, this year’s traditionally busy spring real estate market will be among the most anticipated and fraught in memory.
“You paid $1,251,000 for it. The good news is you’ve made a lot of money on this since then,” Frodyma said with a chuckle, rattling through comparable homes either listed or recently sold in the neighbourhood. Working in sales for a life science research company, she currently lives with family in North Toronto — a situation she feels fortunate to be able to rely on. She and her boyfriend, a retail manager, have been saving up with hopes of jumping into ownership rather than forking out rent in Toronto’s expensive market. Even with those savings, buying would feel all but impossible without extra financial help from their families.
“The inventory is still quite low, but we’ve seen bidding wars pick back up,” he added. Looking ahead to spring, he anticipates “some sort of a frenzy again” but it depends on what happens with interest rates. One client is going to “cash out” because the tenant in his investment property left early and with the higher interest rates it’s not worth it anymore.
Mortgage broker James Harrison says they’re busy with pre-approvals, potential buyers who want to be ready for what happens next.“We’re not out of the woods yet, he says. “Stay tuned, prepare your clients.”Cailey Heaps is typing furiously, her keystrokes barely overtaking the stream of pings issuing from her cellphone. The CEO of the Heaps Estrin brokerage on Bayview Ave. has been juggling calls, emails, texts and chats with her team since arriving at her cozy office around 8 a.m.
And the scam of an additional land transfer tax for Toronto is outrageous.