Sigh...it seems every single media article about the real estate market in the GTA says the same thing - lots of interest, but not enough listings - in other words, it is a seller's market. I thought that looking in our prime Toronto area seemed reasonable - the listings that were in our price range were totally workable, recently updated, but not over done. That is until I saw this. A house that sold over $200,00 over asking with a 31 person bidding war! This is the exact situation that we do NOT want. J and I are totally terrified of bidding wars - we just don't want to fall in love with a house and have it slip through our fingers.
Most people would assume that this is limited to the city of Toronto proper - however some of the suburban areas in the GTA have the same issues. Houses in a certain price range sell very quickly in prime areas - location is always the primary factor. J and I are going to start heading for showings soon (can't wait!), but as every article seems to say, we're going to have to make a move very quickly. Not exactly easy when it is the biggest investment of your life! Hopefully there will be a lot of listings coming up, and we can beat the pack!
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