Real Estate News Headlines // November 29th 2014
What is happening in the Canadian Real Estate Market?
The Globe and Mail
Flip flop: How the ravenous appetite for homes in Toronto is making life hard for renovator/developers
As Toronto’s real estate market continues its wild run, it’s not just potential homeowners who are having trouble finding affordable properties. For infill developers and resellers — otherwise known as flippers — bidding wars and wild-eyed buyers are making it hard to turn a profit rehabilitating broken homes.
The story of the house at 25 Skey Lane offers a good example of how a house can suddenly draw competing bidders — even a few weeks after the “for sale” sign first appeared.
If you’re looking to invest in Calgary real estate or buy a home with a low down payment, don’t be fooled by offers that look too good to be true.
Given that more Canadians own their homes today that at any other time in our nation’s history, it’s fair to say that home ownership has become one of our country’s primary cultural values.
Jethro Seymour, one of the Top Davisville Real Estate Brokers at Royal LePage RES Ltd., Johnston & Daniel Division