September Wrap-Up from the Toronto Home Experts Team!

As we ease into the new school year and return to familiar routines, the fall real estate market is already buzzing with activity! This season always brings a renewed energy, as buyers and sellers look to make their moves before year-end. Our team is thrilled to share two exciting new listings this month: a stylish townhouse in Davisville and a beautiful detached home in Richmond Hill. Scroll below for more details on each property.

And don’t forget, if you’ve got a real estate question on your mind, we’d love to hear it! Submit your question through our Ask Anything feature and we’ll thank you with a $10 Starbucks gift card. Each month, we’ll also highlight one of your questions (and our answer!) right here in the newsletter.

Wishing you a wonderful start to the season, enjoy the fresh energy of fall and all that comes with it. We’ll see you next month!

How to Protect Landlords From Potentially Major Repair Costs In Rental Properties

Landlords are always concerned about how their tenant is taking care of their rental property. Maintenance and repairs are inevitable with every property, and maintenance and repair expenses should be considered part of the cost of owning an investment property. Here are some things you need to know about your responsibilities as a landlord and how to best protect yourself from having to cover the cost of damage to your rental property due to the tenant’s negligence or deliberate actions.

Kind and professional!

"Alex Kluge was very kind, professional, and diligent in his work to find our home that fit perfectly for us. I would highly recommend his services!"

Nick S.

FOR SALE : 151 Merton Street TH3, Toronto

Top 5 Things You'll Love About This Home:

1. Spacious 4-bedroom townhouse with 1,686 sq ft in coveted Midtown.

2. Bright eat-in kitchen with new granite counters & walkout to large patio.

3. Luxurious primary bedroom with walk-in closet & renovated ensuite.

4. Private 1-car underground garage — a rare Midtown perk.

5. Steps to Davisville subway, top schools, shops, trails & family amenities.

Asking $1,450,000

FOR SALE : 9 Maraca Drive, Richmond Hill

Top 5 Things You'll Love About This Home:

1. Detached 4+1 bedroom home on quiet, low traffic street

2. 9 ft ceilings on main floor with crown moulding

3. Modern kitchen with solid wood cabinetry, quartz counters and backsplash

4. Two primary suites each with ensuite batch and large closets

5. Large finished basement with built in surround-sound system

Asking $1,749,000

Ask Anything!

Each month, we answer one of your real estate questions. This month’s featured question was:

Q: “Why do some listings get cancelled after only being on the market for a week and then get re-listed at a higher price?”

A:  When sellers list their properties for sale, there are 2 main pricing strategies that they choose between:

1. List at market price, with some negotiating room

2. List at a “marketing price” with an offer date – this usually means that the price they are advertising at is not necessarily a price that they would be willing to accept, but a price designed to get buyers interested, with the hopes that setting an offer deadline and having potentially more than 1 offer be submitted at the same time, may push the price even higher than the asking price

While strategy #2 above is commonplace in some pockets of the city, because of the softer market, it is less successful as buyers are weary about getting into “bidding wars” or competing for a property. While buyers these days are looking to negotiate a purchase under strategy #1, some sellers are still opting for strategy #2 because it can shorten the length of time before an offer comes in, and often results in offer(s) with fewer, if any, conditions. 

Sometimes, and especially in current market conditions, a seller may choose to employ strategy #2, but on the offer deadline, find themselves in a situation where there are either no offers are received, or of the offer(s) that were received, none of them were satisfactory to the sellers. The next step would be to cancel the original listing, and re-launch at a price that they’re willing to negotiate from (which is more likely higher than what they were originally listed at.

For our clients, we look at the activity in their immediate pocket, determine what the buyers will respond best to, consider the seller’s personal circumstances and then make a recommendation on which strategy to use when listing their home for sale. For further details on this or any other real estate or Toronto related questions, please contact us anytime for assistance!

Want to see your question featured next month? Submit your real estate question through the link below, and we’ll send you a $10 Starbucks gift card just for participating!

Featured Toronto Eats!

J-Town

Address:  3160 Steeles Ave E #9, Markham, ON

Instagram:  @jtownmarkham

Our Experience: This month’s review is not of any particular restaurant, but of a hidden gem (that foodie Alex had never even heard of!) featuring a number of options to explore. J-Town opened in 1998 sits on the border of Markham/North York, hidden from view of the street. It is a cluster of small business owned retail shops, selling Japanese cosmetics, clothing, books, jewellery, ceramics and more. There’s also a mini mart, selling a variety of imported Japanese groceries and food products, in addition to grab-and-go take out products. Across the courtyard, there are Japanese seafood products, butcher (the only Japanese butcher in Ontario!), bakery, and restaurants offering authentic Japanese fare in both casual and full dining room settings. Must tries include:  Tanuki, a Japanese-Western fusion eatery, Bakery Nakamura for their viral cat milk pudding and the ultimate black sesame latte, and a onigiri from By the Sea.

Recommended by Elaine!

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