Ask a Realtor anything

[davepratt]

Hey Dave, 52 Brookside Dr, Toronto had a 'coming soon' sign on it, before it was available 'for sale' it was 'sold over asking'. I cannot find what it went for. Are you able to look it up. Tia.
it was obviously a bully offer of some sort.

That's very odd. It was never listed on MLS. My guess is someone saw the coming soon sign and approached the agent with an offer that the seller accepted. I've never seen this before. I'm not sure it's kosher.

[Bladerunner]

That's very odd. It was never listed on MLS. My guess is someone saw the coming soon sign and approached the agent with an offer that the seller accepted. I've never seen this before. I'm not sure it's kosher.

Wow, a bully offer before a property even hits the market.

Impressive.

Not sure it ends up looking like anything different than a private deal other than the agent getting a commission?

As long as the buyer and seller are happy, I’m not sure it matters. Early bird gets the worm

bladerunner

[gimmeabogey]

That's very odd. It was never listed on MLS. My guess is someone saw the coming soon sign and approached the agent with an offer that the seller accepted. I've never seen this before. I'm not sure it's kosher.

Thanks for checking.

[nearace]

Hey Dave, thinking of removing the upstairs soaker tube with my washer and dryer, the wife says it will hurt my resale, thoughts on this ?

[davepratt]

Hey Dave, thinking of removing the upstairs soaker tube with my washer and dryer, the wife says it will hurt my resale, thoughts on this ?

If it's the only tub then it will limit your market. If there's another one up there then you're good to go.

[mpare]

I knew that house prices had rebounded in Toronto were rising, but I really didn't appreciate just how much they'd gone through the roof outside of Toronto. Our Newmarket home that sold in September of 2018 for a little over $710K was recently listed for sale at $800K. They may have had some $25K of exterior improvements - a new roof and deck, and an extension of the fenced in area, the latter of which I thought diminished the curbside appeal of the house. I was WRONG. The place sold on the same day it was listed for $850K! Not a bad return on their investment.

Dave, how far outside of Toronto does this sellers' market trend extend?

[Chambokl]

Dave, how far outside of Toronto does this sellers' market trend extend?

Michael you would be surprise . . . The market is hot pretty much everywhere. At this time of the year house shouldn't be selling up North . . . No snow helps but the market is still strong and prices are higher than ever. Now that people have realized they can work from pretty much anywhere . . . it has like destabilize the house market across the Province.

[trunckslammer1]

House prices. IMHO, these prices reflect the fact that any money you have in the bank generate little to no returns.

We had been looking at commercial properties for the past 5 years. Every year it keeps going up. A little under 2 years ago, a 12,000 sq ft building went for $200/sq ft. We thought it was too high. Today the market is $350/sq ft for the same type of building.

If you have the cash to pay, you can easily get 2/3% on the return and that does not even take into consideration the appreciation factor

[davepratt]

I knew that house prices had rebounded in Toronto were rising, but I really didn't appreciate just how much they'd gone through the roof outside of Toronto. Our Newmarket home that sold in September of 2018 for a little over $710K was recently listed for sale at $800K. They may have had some $25K of exterior improvements - a new roof and deck, and an extension of the fenced in area, the latter of which I thought diminished the curbside appeal of the house. I was WRONG. The place sold on the same day it was listed for $850K! Not a bad return on their investment.

Dave, how far outside of Toronto does this sellers' market trend extend?

It goes well beyond the GTA. In fact cottages are flying off the shelf at incredible prices.

[hackerhare]

It goes well beyond the GTA. In fact cottages are flying off the shelf at incredible prices.

The biggest challenge in working from your cottage is the availability of high speed internet. In some of the more populated areas, like Bracebridge, they are starting to install fiber. But in the Muskokas (where my cottage is), the service is still spotty and inconsistent. And if you plan to do videoconferencing, then data adds up very quick.

Yes, cottage sales are picking up fast. Used to be that you need to plan ahead for a sale, and allow for a long listing period. This year, they were going in a few weeks.

And for those planning to move to cottage country, if you have a stroke or heart attack, the prognosis is not very good. We equipped our cottage with a defibrillator, and a crash cart. Even then, not sure if its enough short of having your own chopper or plane.

[nomullies]

We went from considering a cottage in the fall to giving up the idea as prices shot up right in front of our eyes. Oh well.

On another front maybe Dave or someone can answer this. Two houses in my hood (Summit Court Mississauga) just sold. Which is fine but neither got listed on MLS. One was "exclusive" and on the realtor's website without a price. It sold for what I believe was a fair bit below market. The other was "coming soon" according to the sign and it sold two days after being listed on MLS for two days. Meaning it never got listed. Why would anyone not want the house on MLS? More eyeballs, greater demand, higher price in my mind. I get using a service with the lower commissions, but both houses had realtors with other listings on MLS.

[Chambokl]

Dave will answer but probably in that case speed of sale was more important than price . . . seems that is what happen.

[davepratt]

We went from considering a cottage in the fall to giving up the idea as prices shot up right in front of our eyes. Oh well.

On another front maybe Dave or someone can answer this. Two houses in my hood (Summit Court Mississauga) just sold. Which is fine but neither got listed on MLS. One was "exclusive" and on the realtor's website without a price. It sold for what I believe was a fair bit below market. The other was "coming soon" according to the sign and it sold two days after being listed on MLS for two days. Meaning it never got listed. Why would anyone not want the house on MLS? More eyeballs, greater demand, higher price in my mind. I get using a service with the lower commissions, but both houses had realtors with other listings on MLS.

Far too many possible factors go into these decisions so there's no way to know the reasoning. Some are logical and some are ludicrous. I do however smell something when I see these deals.

[rsfairwaysandgreens]

Hi
Any chance I can find out what the selling price was for 26 LINKS Trail, Port Severn, Ontario
Many thanks

[dmcdam]

On another front maybe Dave or someone can answer this. Two houses in my hood (Summit Court Mississauga) just sold. Which is fine but neither got listed on MLS. One was "exclusive" and on the realtor's website without a price. It sold for what I believe was a fair bit below market. The other was "coming soon" according to the sign and it sold two days after being listed on MLS for two days. Meaning it never got listed. Why would anyone not want the house on MLS? More eyeballs, greater demand, higher price in my mind. I get using a service with the lower commissions, but both houses had realtors with other listings on MLS.

We bought our current home in 2016 before it listed on MLS. The seller was heartbroken over a divorce and just wanted to be done with the whole process as quickly as possible. In his mind it was worth leaving a bit of money on the table for it to be wrapped up very quickly.