Seller's Problems Keep Getting Bigger (Peel Region Real Estate Market Update)
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- čas přidán 16. 05. 2024
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In this episode we take a look at the current Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate home prices and market trends for week ending May 8, 2024. We also discuss why some seller's have it much more difficult than others. If you're selling your home shortly after purchasing it, most buyers will automatically be discounting your price more than others. It's important to have a strategy to combat this.
This video will focus specifically on Brampton, Mississauga, Ajax, Whitby, Pickering but be sure to SUBSCRIBE for more reports on other areas!
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Santo Sessa & Daniel Sessa
Re/Max Premier
(647)560-7778
santo@teamsessa.ca
*This video, nor any of the other videos on the Team Sessa Real Estate CZcams channel, does not constitute legal or financial advice. This is strictly intended for educational and entertainment purposes only.
We are exiting the spring market so the fomo is dying down. I'm doing the same thing your buyer is doing. Slow, steady take your time and find a deal. Taking that approach is both financially in my interest and it protects me against minor market corrections. I look at the listings and determine what I think they are worth based on past sales (outside of the spring market) and offer that. I've set a deadline until January 2025 to find something so I'm not in any rush. Some sellers will be motivated, other won't. If its not the right house, its not the right house. There are plenty more to look at.
I remember a time when vultures would go in for the kill only to find that the values dropped so much that after 6 months they themselves were on the dinner menu .
😂😂😂
Meanwhile every real estate agent,is starting bidding wars,works both ways,don't knock the buyers,when sellers are just as slimy.
Its easy to look. It costs $32 dollars to pull the mortgage docs and the title. All agents should pull these for there clients but its not in their interest to lower their commission.
I lived in two neighborhoods, and noticed that certain houses get sold multiple times. while others have owners living in them for years. I bought one house that was sold about every two years on average. I ended up selling it after two years, for reasons that has nothing to do with the house. Does it mean some house are cursed or whatever? Has anyone noticed this too?
I have been offering 200,000 under listed price to thousands of realtors. Still no Sellers.
Don't worry. Just hold out until end of 2025 when all mortgages gets renewed. Real estate will crash because interest rates won't go down unless we enter a major recession
Don’t worry santo, the other house probably refinanced 3 times and jacked up their mortgage while sitting on low rates.
There both stretched .
Could be.
Well explained, 🙏👌
People have a wishing bias to believe in bank of Canada…
“Rates will be low forever. You can leverage your soul”
“Rates will go down first semester 2024”
There you go….
I really want to know what you told during Covid. Did u stop your clients to over bid or hold off until this downturn
‘This downturn’. 😂 Good luck with that mentality.
I told them (during covid) what I tell my clients now…the current market price, so if we are competing we won’t overpay.
I can say I’ve never had an appraisal come back at less than the purchase price.
I can’t, no one can, predict where prices are going.
Can you please do a episode for Halton region the Condo market, specifically Oakville by 8th Line by Dundas and Trafalgar
Do you also want him to drive you there?
Wow people are getting really into the ins and outs psychologically. We were going to try to list our home of 23 years this year but now we are going to wait. We want a bungalow but they are so much more expensive than a two story. I can stay put, but I need major foot surgery and I will look into putting in a small cylindrical elevator so I can stay in my home to recover. Can you comment on whether an elevator in a home is a hinderance to sell or a bonus? The new ones are so tiny and so stylish not like those awful stair lifts on staircases.
Don’t let seller agent have any negotiating power without you.
informative
A lot of hungry agents nowadays who desperately need to make a deal. Now is the time to disregard your 2nd cousin who sells one house every 3 years and go with someone who is eating properly so they can represent you properly.
You are 💯 correct.
I totally agree as it happened to me.
FAMIGLIA !!! YEAAAA ????
I wouldn't buy a home with this market period.
Toronto Vancouver house prices ll go down %85 imminent
And?
Tons of fake mortgages out there hasn't hit yet.Wait do it hits
Well, good for you…. You’re happy to drop 70 or $80,000 on average to buy and sell a house because, you know, you’re not quite happy with what you have…. That’s how you conduct your financial affairs??. good for you!!! you’ll make your real estate agents. Very happy…..
Just wait until all mortgages need to be renewed end of 2025. The people who took mortgages at the all time lows won't be able to renew at the current rates. Crash is inevitable
Do you not think that those home owners are planning ahead? I know many won’t and are hoping for the best but many will.
And will the rates be this high in 2025?
@@teamsessa you can do all the planning you want but it doesn't change the fact that interest rate will stay high way past 2025. Our neutral rate might be 2.5-3%, but it won't go down to all time lows again. Canada's economic outlook, GDP per capita is declining and our economy will soon crash because all our capital is invested into housing(non productive for the economy). You won't be able to plan for potentially massive job layoffs because that's where Canada is heading.
Many thousands of people have not paid rent for months and months also
I guess all your buyers are millionaires?
How do they afford the mortgage?
I hope real crisis didn’t happen to anyone in Canada including the new buyers.
Thanks
No, not millionaires. Some may be, but the majority of my clients are not.
See how Biased are Realtors: so even if you were working from buyers side why didn't you advice in this video how buyers can smell this opportunity? You instead have advice to sellers realtor. If a buyer is in bad situation and can't close I'm sure sellers side would sue him/her. This says Realtors are kinda more inclined to work for sellers even when buyers pays everyone eventually!
Santo also wants a high commission
Parth, your comment is unfair as you know, if you’ve watched my shows, I go back and forth between advising sellers and buyers. I can’t discuss every possible angle on each show.
The commission comment…really, that’s your takeaway from my shows?
@teamsessa I enjoy your videos, but I'm just pointing out that your interests are not aligned with the ones of buyers. It is in your interest that housing prices stay high as you are paid on a commission basis
I can see your point Matt. But my interests are focused on a clients lifetime value. They need to have such an amazing experience that they will use my services forever and refer me.
Regarding prices, I would prefer house prices being much lower so this way many more people can buy. Even with less commission I will make more money on volume.
No end user sells a home within two years of buying without some significant life changing event or financial stress... no one. Any life changing event that forces a sale - will result in a heightened pressure to sell...and a lower price. It doesn't need to be financial stress... could be loss/change of job, health problem or divorce...
Could be they don’t like the neighbours, neighbourhood, house it too big / small. It’s not always a as life changing event, sometimes life is too short to not live how you want to live.
Now, now matter the reason, a property will sell for market value.
I watched a lot of people suburb hop during 2010-2020 they would buy low and sell high.
I thought it was crazy, but if done properly they made out like vandits
The transaction costs for buying and selling a home or simply too high for individuals to make impulsive decisions on buying or selling a house. I am not referring to speculators or investors here ….I’m talking about end users. You do not buy on a whim and then you don’t like the house 18 months later….
@@rdefacendis Transaction fees may be high for you, from your experience and perspective, but not everyone pays the same to transact of feels the expense to transact is too high to warrant living where the don’t want to. The only static fees in a transaction are lawyers and land transfer tax, everything else is negotiable and for some doesn’t exist at all.
@@rdefacendisit happens. I’ve done it, I know others who have. Sometimes a house or a location doesn’t work out like people would like, or something better comes along. It’s not always about money. Not everyone experiences the same transaction costs.
Slimy buyers + slimy agents = bear market
wait and wait and wait and wait and wait and wait and nothing happened
What an effin fear monger, oh ya your the best..not