Homefinder logo

Getting a great deal in today’s real estate market: Focus on Value

In today's hot real estate market, buyers often ask me how to get the best real estate deals in Toronto. While Power of Sales & Foreclosures may be one way to find a deal – I usually advise my clients to focus on finding value – as you will usually be further ahead in the long run.

In today's hot real estate market, buyers often ask me how to get the best real estate deals in Toronto. While Power of Sales & Foreclosures may be one way to find a deal – I usually advise my clients to focus on finding value – as you will usually be further ahead in the long run.

 

The Problem with Foreclosures & Power of Sale

 

Many people believe that properties offered as Power of Sale or Foreclosure are your best bet for finding great deals in real estate. As an experienced realtor, I can tell you that as property prices rise in a healthy market – sometimes these “bargain deals” can be more trouble then they are worth. Remember that bank sale properties are usually sold in As-Is condition – without any warranty or guarantee from the seller. Issues can include general condition, structural issues, grow house usage and/or title problems.

 

As the Greater Toronto Area is experiencing a surge in real estate prices and volumes, often under-priced homes sell for well above the asking price - with multiple offers. Likewise, Foreclosures and Power of Sales usually have lots of competition because so many people are targeting these properties. Since these homes are sold in “As-Is Condition,” it can be difficult to determine what is, in fact, a true bargain. With the help of your real estate agent, do a thorough analysis on any home you're thinking of purchasing to determine the value vs. price.

 

If you are willing to take the risk, you may be rewarded – but it is often not as easy as it seems. Buyers can discover that in a hot market, considering the best overall value for a home can often lead to better results than focusing in finding that killer deal. The key is to find the best home that meets your needs and is available at a reasonable price – then leverage your agent to negotiate the best possible terms of the deal. We will consider these aspects of home buying over the course of the next few blogs.

 

Buy a Toronto home when your circumstances dictate, and buy based on value. As your Toronto Realtor®, I am eager to find you an AWESOME deal based on your needs. I want you to get the best value on your home - even in our hot market. Please check out the details of my Awesome Asim VIP Home Buying Program on my website.

Comments

On September 09 2013 at 12:46 AM dilawer said:

need for investment

On January 15 2014 at 3:29 PM philthom4s said:

That is a nice home thing that this is.
Phillius | http://www.keytowingandstorage.ca/en/

On February 10 2014 at 5:33 PM celine said:

Every time I see a great article like this, I learn so much more! Even the professionals have something to learn. Thanks for sharing this! People need to know about this stuff.
Celine | http://www.roofsaverinc.com/en/

On July 03 2014 at 11:13 AM john bond said:

I have been trying to sell my estate for some time now. It's very large and lies a little bit out of town. My wife wants to move to Europe so we decided it's time to sell it.
John Bond | http://precisiongradall.com/about/

Add a Comment


Your Comment:
Your Name:
Your Address
(Won't be published)

Hot Listings

15947 Bayview Ave, Aurora, 2 beds, 3 baths - N3683354

15947 Bayview Ave

$499,000

2 beds, 3 baths

36 Tandridge Cres Unit 885, Toronto, 3 + 1 beds, 2 baths - W3687003

36 Tandridge Cres

$299,000

3 + 1 beds, 2 baths

2563 #20 HALDIMAND RD, Fisherville, 3 beds, 1 bath - H3197512

Haldimand County

Chuck Hogeterp

2563 #20 Haldimand Rd

$259,900

3 beds, 1 bath

206 Eramosa Road, Guelph, 4 + 3 beds, 3 baths - 30552797

Guelph/Eramosa

Rob Green

206 Eramosa Road

$459,000

4 + 3 beds, 3 baths

Hf-talk-icon

In Your Neighbourhood

News and Advice


News & Features

June 17 2015
Builder Industry Luncheon raises over $1 million for United Way York Region
June 04 2015
Upcoming Building Industry Luncheon a major fundraiser for United Way York Region
October 23 2014
Toronto District School Board selling property in Bloordale