Friday, January 9, 2009

Comments on Impending Condo Crisis Toronto Real Estate

I received this recently in my email inbox. It is truly worthy of a reply.

"Real estate brokers would like to see the continuation of the property market boom to line their pockets even more." DW

When I pass a full garage of "STUFF" Thats a family that needs to move but doesn't know how.

When I see an elderly person struggling with their groceries up the front steps, that's a person that would be better served with a condominium apartment property that better suits their ability.

When I see a family with children playing in a condominium hallway, they would be better served bricks and sticks house with a backyard.

Professional Realtors help families solve their house and housing needs, challenges and desires, in turn the spin off activity is the people's buying dollars when they move to the new home, not just the carpenters, plumbers, bricklayers, drywallers, painters, electricians, landscapers but also the appliances, tiles, ceramics, carpet, window treatments, pride of ownership displayed in landscaping and interest in garden centers.

In any Home Transaction there are four people involved in your real estate transaction; the Seller, The Buyer, and usually two agents. It is inevitable that the person with the strongest arguments, best presented details, negotiation and persuasion skills will take the business to his side.

To make a blanket statement that Realtors are interested in only the commissions tars everyone as selfish and self serving. I invite you to peruse the letters of reference and Testimonials I have received over the last 20 years.

I personally support a number of charities thru my sales effort by donating at each transaction, but I do not make this part of my marketing campaign by choice. My task is to find customers who need to buy or sell and help them achieve their goals, thereby providing for my family, housing and education.

The response made that realtors are only lining their pockets belies the reality and is incredibly short sighted. It truly enforces the need for realtors to use blogs as a means to educate consumers of the services that we actually provide.

I suggest that you subscribe to this blog to read issues about Toronto Council's Property Tax issues that include your property, Newly Imposed Toronto Land Transfer Tax, development in your neighbourhood, Legal issues that are contensious, Who can lend you money if you are Short funds to close, Strange things that happen at home inspections for both new homes and resale homes, Condominium registration dates, Broadcast the availability of $10,000 Home Buyers Grant, Charity events in your local neighbourhood, new product ideas for home owners to save money on heating costs, Read about FSBO foolishness, Search other's experiences and plights that you may find some solice or information to save you expense and heartache thru the cleverness of inexperience that is trying to find a shorter cheaper faster route.

This is a time for caring, diligence and sensitivity to people's situations.

The article the "GRUMBLER" responded to was intended to say; examine the square footage costs and benefits when you make your purchase choices for a condominium in Toronto, and specifically that the square foot cost of existing older condo's can be almost 50% less than the new sizzle and dynamic rec center that is sold at the condo buying centers. Simply put. Where are you spending your dollars and how much do you actually get. Make prudent choices with an eye towards the long term goal.

There are affordable 3 bedroom condos available at or near the $ 300K mark with 1600 square feet of living space. Yes there are maintenance and property tax costs as with any real estate purchase but when compared with 880 square feet at the same purchase price and only slightly lower maintenance fees, I tend to question a Buyer's needs and Wants.

1 comment: said...

I think 2009 is going to be worse than 2008. Being the biggest trading partner of US, US recession is going to hit us hard