Gridlock in Toronto's luxury real estate pockets [Globe and Mail, The (Toronto, Canada)]
Toronto Dominion Bank (The) (TD)
Last toronto dominion bank (the) earnings: 2/27 06:30 am
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Source: Globe and Mail, The
A surfeit of listings in many Toronto neighbourhoods has prompted an increasing number of real estate agents to resort to an unfamiliar strategy: they are discouraging homeowners from listing their homes for sale. In early July, some sellers who have failed to land a deal have recently taken their properties off the market while buyers vacillate. James Warren, real estate agent with Chestnut Park Real Estate Ltd., says he is advising homeowners to hold off in areas with abundant inventory except in cases where they need to list because of a job transfer, an estate sale or another pressing reason. “Unless I absolutely had to, I would wait until the fall,” says Mr. Warren. “The audience isn't listening right now.” Mr. Warren does much of his business in Rosedale, where one luxury property traded hands in November for $21-million. “The gentleman bought it for full price, first showing,” says Mr. Warren. The problem since, Mr. Warren says, is that other homeowners in the upsc
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