If you are an investor looking to buy real estate at a cheap cost, this year of 2021 has not been an easy year for you. Cashing out on your investments, this is a GREAT year. Purchasing investment properties, the inventory has just been too low.You may be a residential real estate investor or a commercial real estate investor so there will be different things to look for when searching for the right investment. Not every investor is looking for the exact same thing in a property, but most are looking for a similar outcome; Purchase Low to Rent High.
ANTHONY DE TOMA's blog
Houses that were for sale in the early months of 2021 look to be the best time so far to have sold this year. Many properties that are for sale this summer are still selling for great prices, as many homes in Vaughan continue to do fantastic for sale prices . However, there seems to be a feeling of calmness in the market place, which is a breath of fresh air for many buyers looking to get into the market.
There was a time when housing supply equalled or exceeded demand, which allows the buyer to insert a clause requesting to arrange mortgage financing – this is called a “condition of financing.” How long that condition is would be dependant on the buyer and the advise from the real estate advisor.
Selling your home can be an emotional roller coaster. Many sellers are taking advantage of this booming real estate market in the GTA, as prices in 2021 have jumped more than 10% in many areas, from just a few months ago. The shortage of housing inventory can be heard across North America, as it seems like everyone is dealing with this same issue. In an average market, homes would be priced at a number that the seller would consider selling for and wait for offers to come in.
If you are a buyer struggling to afford a home in todays market, paying way above the expected price may NOT be the right thing to do, even though it feels like it is the ONLY thing to do in this real estate market. Vaughan real estate is booming, and do are areas like Bolton, Innisfil, Oshawa, Milton and ,well, pretty much everywhere… leaving everyone, including banks and lenders, not sure what properties are really worth.
If you are looking to buy real estate in the Greater Toronto Area in 2021, or anywhere in North America for that matter, get ready to compete. Many buyers looking to buy Vaughan real estate and surrounding areas find themselves with no leverage when negotiating the price, mainly because of the amount of competition there is. A lot of this has to do with the low interest rates that are currently feeding the real estate market due to the COVID-19 Pandemic. In order to keep the economy up, interest rates needed to be dropped.