04 November 2010 ~ 0 Comments

Follow up and opinion to Remax condo article


It seems over the past few years any bit of positive real estate information to be published from any of the big real estate brokerages is met with some surefire opposing opinion critique (mostly opinion) by main stream journalists and publications.

And it almost always reeks of the same rhetoric. Reports published like the recent condo market findings by Re/Max Ontario/Atlantic is most obviously biased and self serving (Toronto Life online John Michael McGrath November 2nd) because that’s what all us “real estate” sales people, brokers or companies do. Pass along only one sided (read self serving) information to paint a picture that will allow real estate agents like me to go out and sell more houses.

The absurdity in these articles and statements made by journalists who commonly seem to do a minimal amount of fact checking if any points merely to the fact that traditional media and where we consumers go to get our news has changed. Note that I write changed! Not changing. We no longer can trust journalists and mainstream publications for accurate reporting on matters of any sort as they continuously give us reasons not to! Case in point the Toronto Star and Globe and Mail publicly endorsing a candidate in the recently held city of Toronto Mayoral election. I pretty much know what to expect from a news source that is already telling me who they support when really they should be focused on providing the news. Maybe this is why newspapers and good journalists area a dying breed.

So back to Mr. John Michael McGrath and his writings on the upcoming real estate crash (as felt by our neighbours to the south so obviously it is going to smack us as well). Stop comparing apples to oranges. With proper research one would know that the U.S. real estate marketplace is drastically different then what we are experiencing in Toronto. And I only say Toronto because this is where I live and the condo market statistics provided by Re/Max Ontario/Atlantic covered this area. And this doesn’t only apply to today’s market but past markets as well.

It’s like saying it’s raining in Canada today! It may be raining in Kingston, Ontario and be sunny in Toronto. Or snowing in Ontario but mild and dry in British Columbia. But people please…stop with the generalities! All you do is put misleading information into consumers heads which can actually have an adverse affect on them and their real estate intentions and well being.

The market could be strong in Toronto currently (meaning this week) and cooling in Brampton. You can think global all you want but real estate will always be local.

Professional real estate sales people who commit themselves to their craft are the ones to go to for up to date relevant information. And yes this can obviously take some time and research on finding out who these sources are (start by asking your friends). Get in to a conversation with one and see what his or her thoughts are on the current market. Here’s what my clients have been getting in reply when asking me “how’s the market Mike?”

Well that depends. Are you thinking about selling, buying, leasing or purchasing an investment property? Let’s talk.

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