Move Smartly: The Podcast
How Will You Know When the Market Hits Bottom? And What to Do With a Rental That Loses $900 a Month
Every month, John Pasalis and Davin McMahon take real situations from real people and work through them on air. This month, four of them come back to the same question from different directions: what do you do when you think prices haven't finished falling? A buyer who has been waiting since last year wants to know what a bottom actually looks like in the data, before it's obvious to everyone. A couple in Etobicoke has been on the market since May, cut their price twice, and can't get an offer. A pair of empty nesters with no mortgage are wondering whether to sell, rent for a few years, and buy back in. And a small landlord is $900 a month out of pocket on a condo with a tenant who isn't going anywhere. Then a fifth situation, which is about what a slow market does to the people selling houses rather than the houses themselves. Two first-time buyers with a hard $800,000 ceiling keep getting shown listings $75,000 to $100,000 above it, on the theory that those sellers are desperate.
