Jason and Theresa: Jumping Back In The Market
A few years ago, Jason suffered devastating injuries in a serious collision with a tractor trailer on Highway 401, and was left unable to work for a long period of time. He and his wife Theresa chose to sell their home through Jody, and rent until Jason got back on his feet both physically and financially.
“We started looking at houses passively throughout the winter of 2016, and saw the sale prices just continue to go up. By April we knew we had to get serious,” Theresa said.
Theresa and Jason wanted to find a home in the east end of Toronto based on their familiarity with it, the proximity of friends and family, and affordability. They were open to buying a detached or semi-detached house, but their son Joey made sure they knew his number one criteria after renting a shared house: “No one else in the basement!”
The market was very competitive through spring and summer. “The bidding wars were pretty frustrating,” said Jason. Added Theresa, “We were pretty close to giving up after losing the fifth house. It was exhausting.”
There were several properties that needed some work, a couple that were renovated flips, and others that were somewhere in between. One house they’d hoped to claim for their own was this detached bungalow in the Clairelea-Birchmount area:
Nicely updated throughout and listed at $649,000, they thought they’d have a shot at calling it home – but with several offers, it ended up selling for far over asking. Based on the extensive research Jody provided, they all knew it just wasn’t worth what they would have to pay to win the price war.
They submitted a bid on another property that was also turned down, and then Jody discovered a lovely 1.5-storey home in East York had not sold on its offer date. They rushed to put together an offer, and even managed to arrange for a home inspection within 24 hours.
Theresa was beyond excited when no problems were discovered, and their solid offer for 10% over the asking price was accepted. The family moved in during the summer of 2016, and added a puppy named Elsa to their household. “Joey is so excited to go to school every day, and I went to school with most of his friends’ parents!”
When asked what tips they would give to other people trying to buy a house in this market, they said, “Pick your price point, and stick to that budget. And take Jody’s advice. We knew we could trust her, and she wouldn’t let us buy the wrong house.”
I’m so thrilled for these lovely people, they really deserve as much happiness as possible going forward. Glad I could help you find your way home!