Othneil Litchmore

I'm probably more witty in real life...

[Othneil Litchmore @olitchmore]

@HeadleyEttennaj @LGCanada This is really bad for business. Do better @LGCanada !

[Paul Reed @Bball_paul]

If you gone quit anything this year quit hating

[Othneil Litchmore @olitchmore]

@agentgina1 If 80% of the deals are done by 20% of the top agents it���s means most people encounter with very competent agents. Obviously bad experiences get way more press. But we need to nail down exactly whats going wrong. Bad experiences are not always due to incompetence.

[Othneil Litchmore @olitchmore]

Real facts

[Othneil Litchmore @olitchmore]

@JimsonHogarth @nasmadotali Very sad 😞

[Othneil Litchmore @olitchmore]

@nasmadotali Not you @nasmadotali. This buyer is having buyers remorse. It’s sad but It happens. I feel that other commenters are trying to make this about the realtors throwaway comments about interest rates. This buyer may have been searching for years before.

[Othneil Litchmore @olitchmore]

@Freakotrader @jasonpereira @danielfoch I’m going to assume that people bid on homes because they actually want them. Knowing whether you’re the highest bid or not doesn’t get you any closer to getting the home. If you’re in a multiple bid situation the seller has most of the leverage.

[Othneil Litchmore @olitchmore]

@REWoman I think I saw that listing too. Northwest Ajax with a basement apartment??

[Othneil Litchmore @olitchmore]

@HeyAddy @REWoman What jumps out to me here is that it seems like capital that was concentrated in certain areas diffused across the region. Areas with the most growth were relatively cheap in 2020.

[Othneil Litchmore @olitchmore]

@REWoman @416PMInvestor I think time will tell what happens in Oshawa. I’m shocked by the prices out there as well (I’m a Durham agent fyi). Maybe it was undervalued for far too long and people are now seeing how valuable the east is.

[Othneil Litchmore @olitchmore]

@REWoman @416PMInvestor In a market of multiple offers I think buyer emotions drives prices more than any measured understanding of the local market. You’re just bidding as much as it takes to beat the other emotional person.

[Othneil Litchmore @olitchmore]

@REWoman @416PMInvestor Curious - do you really think that out of area agents are a big reason for inflated prices? A Durham agent can pull comps in Mississauga and offer accordingly. What additional local insight is there?

[Othneil Litchmore @olitchmore]

@REWoman Good point. They probably shouldn’t even have it listed publicly. Just keep it exclusive and have the listing agent tap the specific network of buyers looking for a property like this.

[Othneil Litchmore @olitchmore]

@nasmadotali @FrankfortReport @googlenews If you sold high and just now bought high then it all comes out in the wash.

[Othneil Litchmore @olitchmore]

In many cases it’s safer for seller to list the home at the same price as the comps so as to attract the same number of buyers and hopefully hit the same sale price in a bidding war.

[Toronto Star @TorontoStar]

A family townhome in Oshawa for $529,000? Prepare for a bidding war, expert says.

The last townhome to sell in the complex is only slightly larger than this unit. Listed on Feb. 16 for $489,900, it sold six days later for $812,000.

https://t.co/tYLiZcH0Or

[Othneil Litchmore @olitchmore]

@goodkarma4344 @nasmadotali That’s the reason I put auction in “”. Listing low and holding offers creates an “auction atmosphere.” The underlying issue remains too many buyers too few homes. Taking the “auction” approach brings order to the process - allows the seller to review all offers at one time.