Real Estate Curve

I am an agent working in the GTA area, based on what I see not all homes are priced or sell accordingly to the market right now(January 2009). People do get good deals with $40,000 – $60,000 lower purchase prices but only from the vendors that really have to sell.

There is alot of people still selling their homes way above the market value, their frame of mind is that if they don’t sell for what price they want to won’t sell at all. Some people made the mistake of buying first and then selling their home, at this time of the market if you buy something and your house isn’t selling, then you will have to reduce the price until you get it sold. This is not a typical way it should be but if you are stuck with 2 properties a price reduction is the only way. As I say to alot of people if something is priced right it will sell.