I expect this measure to have
little effect on the market in
the long term and a marginal
easing over the short term. In
fact, we have noticed inventory
levels growing over the last 4-6
weeks due to the anticipation
of these measures. I’m thrilled to have some
great articles written by local
professionals included in this
edition of our Buyer’s Magazine.
I encourage you to read the
article on Bully Offers because
multiple bidding is still very
common in today’s market.
When the Foreign Buyer’s
Tax was first introduced in
Vancouver to slow down the
red hot real estate market, their
market dipped slightly. After 6-9
months, their market stabilized
and now the Vancouver market
is on the rise. What I believe we
will witness here, in the GTA, in
the very short term is an increase
in inventory and subsequently
downward pressure on prices.
We expect this to be a very
short blip and prices to come
roaring back after a short while. Also included is good insight
into Home Inspections and
Financing for a home purchase.
Benczik Team Realty looks
forward to working with you
to help you find and buy
your dream property. We will
continue to push ourselves
to bring you the highest
level of service offered in the
marketplace. Our focus is to
serve you, our clients, so that
you derive enormous value. I
hope to see you soon.
Ultimately, if you are a buyer
and waiting for prices to drop
so you can get a good buy on
a home, you better act quick.
There might be an opportunity
in the short term, but in 6-9
months, I’d expect prices to
have bounced back.
-Leslie Benczik, Broker of Record