Posted on: 17-01-06 14:51:22
Looks like the market in GTA has been stagnant for the past year except for some areas. Are the sellers offering incentives now? Do you get a discount on the asking price? Any CD have good/bad experience??
Hi,
There is infact nothing called 'Price' of a house. Everything is dependent on the market and other factors as well.
Yes, it is not definitely as hot as before but it will pick up with the onset of summer.
What I would advise is that -
1. Know your Budget - the max & min
2. Know what exactly you want and where
3. Narrow Down those Locations/Areas. I think, don't make it too huge. Make it as focussed as possible
4. Do a research yourself by talking to the Seller Agents. Frame an intelligent set of questions to probe certain things like 'why the property is being sold', 'how long in the market', 'whats in the property', etc. Try to understand if there is any desperation
5. Check maps.google.ca and the Public Transit, etc. Get info from other Govt sources if necessary
6. Compare with houses sold (if you can get some trebnet downloads). Or, do a serious deal - that will tell you how low it can go thru dual-agency.
7. Should know the features and the price comparisons with other houses
After a few months of intense negotiations and precise study - You will be much more confident
Good Luck
Aargh!! I'am not asking for advice! I'am asking for 'EXPERIENCE'. I was in the market a few months ago. I backed out when I got the feeling that the market was cooling. Just wanted to confirm from actual buyers that they are getting discounts!!
I was only trying to help you by stating what I learnt negotiating over a period of time.
I bought recently. I don't think, it has cooled down. Maybe, compared to what it was before, a little bit. Hard to say. It will go up in Summer again.
Yes, I think, you can say that - the value appreciation is not as much as before. But, prices are increasing and will increase.
And what you mean by 'discounts'. I bought in December - got no discounts. There are no free lunches. There were plenty of showings the very first weekend and so we moved fast.
