10 years ago I was under the impression that the real estate market was fairly efficient. I assumed for the most part everything was priced to near perfection and with the never ending supply of eager buyers it was like looking for a needle in a haystack when it came to good value.
If there is one thing I’ve done a complete 180 on in the last decade, it’s this. Deals, whether ‘off market’ or on MLS happen all the time, be it due to unrealistic sellers, bad timing, inexperienced realtors, or countless other reasons.
In this post I will list a couple of recent examples from East York, an area I grew up in where buyers walked away with some great purchases.
Example 1: A $600k detached home on a subway line along Danforth:
Listings that excite me the most are those done with a cell phone camera, no pictures of the interior, and usually less than 10 pictures in total. An immediate giveaway that very little effort was put into the listing, meaning less traffic, more days on market, and likely a more nervous seller. This property checks all the boxes, it also sold well below market comps and is more than worth it for land value alone.
Example 2: Renovated Detached in Danforth Village.
I have not seen this listing in person, but on paper this was a $1.4M-$1.45 listing in today’s market. It’s difficult to speculate what happened here, but the property was relisted multiple times prior and it appears the sellers had to move on. #ToRE #Toronto #realestategta
