Happy New Year! I hope that the holidays treated you well and that 2014 has plenty of success, prosperity, health and happiness in store for you!
Sometimes I wonder where the time has gone. Another year passed, another wonderful group of clients serviced, and another ecclectic mix of homes renovated and sold! To all of those who I crossed paths with in 2013; family, friends, colleagues, clients: Thank you!
And what a year it was! The market fared a lot better than many would have expected for most of Canada, the GTA included. Average selling prices continued to soar and as I mentioned in several past blogs, bidding wars and aggressive buyers were the norm.
So what does 2014 have in store? Experts predict that the coming year will continue to be surprisingly prosperous in the world of residential real estate. While this is a sign of a strengthening economy, price growth is largely attributed to tightening market conditions. If you expect prices to fall flat, or drop even, I wouldn't suggest holding your breath while waiting in 2014. You can also expect to see more new construction, as well as more renovations to older homes as sellers try to compete with new-builds in their area.
When it comes to the average consumer choosing a Broker and Realtor to work with, expect to see some game-changers in 2014 too! Brokerages now have the option to charge both a commission AND a flat fee, where previously it was only one or the other. Expect competition between brokerages to rise in the upcoming year, with more Realtors coming up with varying compensation arrangements and sales pitches in an attempt to earn your business!
What does all of this mean for you?
Well, if you've been holding off on getting your feet wet in the real estate market, waiting for the overall picture to improve, then 2014 just might be the year you've been waiting for. Whether you are buying, selling, investing, renovating or anything in between, you're going to want a reputable brand and experienced Agent by your side. Someone you can trust, and someone who puts your best interest first! I hope you'll remember that you can count on me.
Cheers to 2014!