It’s an excellent time to buy in the area. There are very fair prices in Durham and east Scarborough. It's a balanced market. A couple years from now people will look back on it and think this is probably one of the best times there was to buy a house.
It’s definitely a buyer’s marketplace right now. But it’s not the end of the world for sellers. If it’s a slow market and you’re selling and you get your house sold and you buy in a slow market, you haven’t lost anything because you’re moving laterally in the same marketplace.
Also, people worried about getting mortgages in Scarborough should rest easy. Lending criteria is slightly stricter because of the U.S. subprime mortgage crisis but doesn’t affect very many people. Most of the people who would’ve got mortgages before are still able to get mortgages.
The average three-bedroom home in the area of east Scarborough now costs around $330 to $350 thousand. Last year, it would have cost from $340 to $360 thousand.
Low prices won’t last very long in the area. Three to five years from now they’re going be higher and the best time to buy a house is probably right now.
To begin the search for your Scarborough house go here - http://www.torontogreathomes.com/Scarborough_houses/page_1522367.html or call Realtor Alex at (416) 723-9383.
Toronto real estate. SCARBOROUGH'S MARKET IS STILL STRONG
![Toronto real estate. SCARBOROUGH'S MARKET IS STILL STRONG]()
Reviewed by citra
Published :
Rating : 4.5
Published :
Rating : 4.5