The last few weeks have been some of the craziest in memory for Toronto real estate. If you’ve been looking to buy a house in Toronto, you know what I mean – bidding war after bidding war and sold prices that boggle the mind.
I experienced a weird and wonderful thing last night: my clients and I were the ONLY offer on a house in the Junction. There was no fleet of BMW’s and an assembly line of REALTORS outside the house waiting to make offers. There were no late-night negotiations. And there was no stress of being sent away to “improve our offer” and worries about negotiating against ourselves.
It felt strangely surreal.
There was just a Buyer and a Seller (and their respective agents) in a mini mall in Etobicoke. An offer was made, an offer was accepted. We showed each other pictures of our dogs. And everyone walked away happy. The whole thing started and ended in less than 20 minutes.
It felt good. Real good.
Now I’ve likely had more than my share of bidding wars these past few weeks:
- I was part of an 11-person bidding war in Roncesvalles that sold $200K over asking (we lost)
- I helped clients make an aggressive bully offer on a house in Brockton Village (we lost)
- I was one of two offers on a townhouse in Bloordale, mere hours after it went on the market (we won)
- I represented a Seller who received multiple offers on their townhouse in the Junction on the second day on the market (we won)
- I learned that lot size doesn’t matter to everyone in a 6-person bidding war in the Junction (we lost)
- I helped two amazing clients land the home of their dreams in a 7-person bidding war on the Danforth (we won)
The good news is that bidding war or no bidding war, in the end everything turns out OK. Everybody eventually finds the house they were meant to be in. And this is what it feels like when that happens: