Can this ride continue?

Well as we near the end of May, it would appear there is no end in sight to the bidding wars, multiple offers and craziness in the real estate market.

I have been asked numerous times, do I see an end in sight?  Will this last?  What will happen IF ….

ALL of these are valid questions.  I too am asking myself, how long can this continue.  Homes are selling for record high prices.  Homes that last year in Pickering were 400 and 500 are now selling for up to 100K more.

Is it because the Toronto market with the double land transfer tax has forced people to come East to Pickering and Ajax and drive up the home prices? Possibly…. or is it that Pickering and Ajax home prices were the slowest to increase in the past years and now are playing catch up.  Maybe !

With interest rates at an all time low, I have wonder what would happen if the rates went up, even 2% over the next few years… could people afford to pay their mortgage if it doubled?   I don’t know, I guess it would depend on income, down payment and debt.   I just keep scratching my head on this one.

They say the rates are not going anywhere, anytime soon.  So can the prices keep continuing to escalate… at such a fast pace.   Some say they will.  Others are skeptical that this can last.  It definitely is a Sellers market here in GTA and Durham.

As long as the rates stay manageable and the market is strong with Buyers out in droves, things will continue to flourish.

If for some reason, the markets takes a small correction, all you have to do is ride it out.  It eventually rallies back… like it did in 1990… my fear is the people that cannot ride it out.  Then what?  Power of Sales will pop up more and more.  Let’s face it, if you bought with 5 or 10% down and prices take a dive, what equity do you have … unless you can “HOLD” for the time it takes to ride it out, many people will end up walking away… am I making sense?   Sometimes I think faster than I type.  LOL

Well just take this as a warning.  When buying or selling, hire a full time professional who knows the market and prices and will protect your interests. That is all that concerns me with my clients.   Yes, enjoy the new found money when selling at all time highs but remember you have to buy too and then the shoe is on the other foot.  So think it through and talk to your local Real Estate professional and figure out the best strategy for you.

Should you need direction or have questions about the market or neighbourhood sales, call me.  I am always thrilled to talk to real estate.

Have a super evening and enjoy the market everyone…may it long continue to thrive and prosper.

And for those sitting on the fence, remember this – never have I heard people lose money on real estate.  My parents paid 16K for their first home and it is worth about 800K… just be smart, maximize your equity and remember, you can’t live in a Mutual Fund !  LMAO

Cheers xo

Mid Month TREB Market Share for Jan 2014

Greater Toronto Area #REALTORS® reported 1,287 transactions through the TorontoMLS system during the first two weeks of 2014. This result was down by approximately eight per cent compared to 1,396 sales reported during the same period in 2013. New #listings entered into the system were down by a greater 20 per cent year-over-year.

See full information and stats here:

265 Senator Street, Pickering – NEW LISTING

Don’t miss this great new listing in Pickering.  3+1 Bdrm Stunning Home.  Viewings by appointment only.  For information visit my website or click on the virtual tour below.  $519K.  This beauty won’t last !

265 Senator Street, Pickering

COMING SOON – 1675 Goldenridge Court, Pickering

SNEAK PREVIEW – MONDAY APRIL 1st, 2013

Superb Marshall Built Executive Home in High Demand Prestigious Enclave.  Many luxury upgrades, fabulous kitchen with quartz countertop, Chefs Desk, Upgraded floors and trim, Soaring Ceiling in Family Room w. Gas Fireplace, 50 Ounce Carpet, 5″ Baseboards,  9′ Ceilings on main level.  This home truly has the “WOW” factor. Inspection Report by Global Home Inspections.  Shows to perfection !!!


Search North Pickering and South Pickering Homes

Searching for the home of your dreams in Pickering, Ontario? Whether it is south Pickering, near the lake or north Pickering near the 407, the opportunities are endless. North Pickering, South Pickering, East Pickering or West Pickering… I can help you decide which neighbourhood best suits your needs. Pickering is divided into many different neighbourhoods. Amberlea, Brockridge, Duffin Heights, Dunbarton, Highbush, Rosebank, Rougemount, Village East, West Shore and so on. Having lived in Pickering for 25 plus years, I can tell you about the schools, shopping, transit and more.
Here is a little video from the City of Pickering highlighting our beautiful downtown. Live, Work, Play and Invest in Pickering.
Using my Preferred Buyer MLS® Email Notification Program, you can search a huge inventory of MLS® property listings and view information about homes that are currently available not only in the Pickering area, but in any region of Durham. Based on your criteria, I can quickly locate homes complete with pictures and descriptions. You’ll be notified as new homes come on the market daily by email, allowing you to see the hottest new Pickering real estate listings first, before they’re sold or appear on MLS!

Work, Rest, Play and Invest in Pickering, Ontario

Search North Pickering and South Pickering Homes

Searching for the home of your dreams in Pickering, Ontario? Whether it is south Pickering, near the lake or north Pickering near the 407, the opportunities are endless. North Pickering, South Pickering, East Pickering or West Pickering… I can help you decide which neighbourhood best suits your needs. Pickering is divided into many different neighbourhoods. Amberlea, Brockridge, Duffin Heights, Dunbarton, Highbush, Rosebank, Rougemount, Village East, West Shore and so on. Having lived in Pickering for 20 plus years, I can tell you about the schools, shopping, transit and more.
Here is a little video from the City of Pickering highlighting our beautiful downtown. Live, Work, Play and Invest in Pickering.
Using my Preferred Buyer MLS® Email Notification Program, you can search a huge inventory of MLS® property listings and view information about homes that are currently available not only in the Pickering area, but in any region of Durham. Based on your criteria, I can quickly locate homes complete with pictures and descriptions. You’ll be notified as new homes come on the market daily by email, allowing you to see the hottest new Pickering real estate listings first, before they’re sold or appear on MLS!

Pickering – Perfect Area to Invest in Real Estate

Search North Pickering and South Pickering Homes

Searching for the home of your dreams in Pickering, Ontario? Whether it is south Pickering, near the lake or north Pickering near the 407, the opportunities are endless. North Pickering, South Pickering, East Pickering or West Pickering… I can help you decide which neighbourhood best suits your needs. Pickering is divided into many different neighbourhoods. Amberlea, Brockridge, Duffin Heights, Dunbarton, Highbush, Rosebank, Rougemount, Village East, West Shore and so on. Having lived in Pickering for 20 plus years, I can tell you about the schools, shopping, transit and more.
Here is a little video from the City of Pickering highlighting our beautiful downtown. Live, Work, Play and Invest in Pickering.
Using my Preferred Buyer MLS® Email Notification Program, you can search a huge inventory of MLS® property listings and view information about homes that are currently available not only in the Pickering area, but in any region of Durham. Based on your criteria, I can quickly locate homes complete with pictures and descriptions. You’ll be notified as new homes come on the market daily by email, allowing you to see the hottest new Pickering real estate listings first, before they’re sold or appear on MLS!