Happy Monday Morning current inventory broke through the 14k mark (14,078) with 1209 sales nothing to be concerned about with the inventory piling this is normal going into the spring market we should hit about 17k by July-August. No news from the fed’s, government or banks that can create additional detriment to the market, the damage has been done mid of last month and the media naturally ran off with it and is creating massive doubt in the market for buyers and sellers.

As for my primary residence and real estate investments as you know I’ve been liquidating most of my Canadian assets and will be holding the cash ready to buy. My goal is to double the money within 5 years for example if were selling 8 millions dollars of real estate today the next time around we should be selling 16 millions dollars.

We unloaded a total of 50% with another 50% to go, the important and more desirable units have sold already.

Talking about selling and how to approach a sale in todays market, the good thing about selling my personal assets I don’t differ from the process that use on clients homes.

For example my personal residence just sold 6 days on the market while other more desirable properties are still siting for a total of 45 days on the market, the approach I use and was trained early on is to have more features and benefits then the other homes and be better priced and that’s exactly what me an my wife did with our home.

At the height of the market our home would have been worth $2,450,000.00 and we would need to list at $ 2,499,000.00 to get this sale, naturally market has changed so we were going to list at $2,450,000 and hold out for a sale of 2.390s to low 2,4s.

With 28 listings in Nobleton and 5 much more desirable models as direct competition , we had to price competitively to keep the edge. Theses properties have been on the marker for 45 days and just made a major 200k price correction ($2,468,000.00) forcing are listing price to 2,388,000.00 to still give our home the edge.

Great news is the strategy worked and we sold in 6 days for $2,300,000.00 a fantastic price, 58% appreciation in less then 5 years , we will pocket 850k and free from capital gains, and only losing 6% from the height of the market while the news outlets claim 22%.