Sales of homes priced over $1 million were up year-over-year in Toronto, Vancouver, Calgary, Victoria and Oakville in the first nine months of 2016. In the Greater Toronto Area and Vancouver, Canada’s largest high-end housing markets, sales of $3 million-plus homes saw significant increases, of 86 per cent in the GTA and 41 per cent in Vancouver.
High demand in the GTA and Vancouver has resulted in a spillover effect in neighbouring markets, as buyers look further out for more selection and value. In Oakville, an affluent suburb to the west of the GTA, sales of $1 million-plus homes increased by 111 per cent year-over-year, driven by price appreciation throughout the market as well as increased interest from foreign buyers. ...
When my wife and I began searching for our first home, we could not have imagined meeting realtors willing to be as invested in our lives as Lorie and Michael. By the time we met these two, we had been scanning potentials on our own for a while. Finally settling on a house we wanted to visit, when we went into our bank for pre-approval they insisted that we use Lorie and her team for our search. This is the first time I've ever been able to say that I appreciate a bank.
Within a few days we visited the house and began working out an offer. We won! ... But unfortunately upon inspection we decided the house was not for us as it needed too much work. Devastated, my wife and I decided to take a break from our search. We wanted to move, but as this was the first house we had seen in our price range AND our style, we worried that it would be a while before another popped up. Ever patient, Michael and Lorie worked with our quirks and gave us some space ... but never gave up. During these two or three months away, Michael checked in several times and continued sending homes he thought would be of some interest. They weren't the realtors I expected. I thought they would only help us if we were buying right away - isn't that how they make money?
Within a few months, we were ready to actively search again. Soon enough we found another house. Stunning. Everything we wanted and very close to our price point. After seeing a couple others we decided we would put in an initial offer. Though not accepted, in the ensuing back and forth Michael negotiated an incredible deal! Without giving away exact numbers, he dropped asking by eight percent! If you're buying a home, you know that this can amount to a nice sum of money.
Anyway, at this point we signed the dotted line and began the inspection process. There were some problems. We would need the price lowered even more to be able to afford fixing them. My wife and I instantly worried this would mean we would lose the house. After the last house, this one seemed to follow suit. But Michael would not be bothered. And while I have no idea how he did this, within a few days he negotiated the final pay price to over eleven percent off asking. Again, decent sums of money here!
That being said, Lorie, Michael and the rest of the team go beyond merely negotiating. As I mentioned before I was surprised how non-pressured I felt through the entire process. Rather than seeing us as dollar signs, I truly felt as though they were interested in who we were as a couple. They spent the extra time getting to know my wife and I. It was easy to express ourselves and what we were worried about or what we wanted. Even though their work is done as we've bought the home, they continue to check in and see how moving prep is going. They're even providing moving boxes! I could drone on and on, but here's the important bit I want to say: While Lorie, Michael and the team are, in my mind, the best realtors in Ottawa, what's more important (at least to us) is that they are incredible people as well. Selling or buying, I will always use The Lorie Ann Warren Team!