Tuesday, April 14, 2009

Toronto Housing Prices Holding Firm

Ok, I've been getting some ad money (controversy!), and this just happened down the road, so I have to blab!

House down at the corner was selling to allow relatives to cash out, since the old people had died. Not a great location at a busy intersection. They went through 2 real estate agents already, and this third one put on a big splash with signs everywhere and lots of open houses. The sellers set a boom price of 650K and were holding firm. The only buyers were hard-nosed 'buy to rent' people, and they offered 500K. The prices held firm!

Now, the agent has fled, and all that is left are the wind-blown hinges of the last 'For Sale' sign, and a few tattered 'Open House' signs.

So, that's what I have to say to all those rosy real estate news stories, that the prices are holding up.


Toronto Realtor said...

Can't really bargain with someone who has set his mind on one price and won't deal with you. No wonder the Agent left:)

Take care, Elli

Harold Asmis said...

ps. I just heard the bank was taking over the house. See what it sells for now!