With an abundance of pre construction building going up in the entertainment district, there is no question that the Icon Condo has maintained its value as well as it's appeal to buyers. Even though the newer product going up within a very close radius to the Icon has higher end finishes, it has not affected the pricing for these two buildings located on Wellington Street West. If anything, it will gradually increase the pricing for existing units in these buildings.
The Icon on Wellington Street has always commanded high resales values even though the building is close to 10 years old. Not only are the amenities fantastic but the the building is run and managed very well. This alone makes a huge difference in the value of the building.
Click on Icon Condos for more information on selling or buying an Icon Unit.
Showing posts with label the Icon condo units for sale. Show all posts
Showing posts with label the Icon condo units for sale. Show all posts
Monday, September 12, 2011
Tuesday, August 16, 2011
Asking Price...How much will I get?
We recently met up with a potential client who was looking to sell her Toronto Condo. During our meeting it became very evident that her main concern was knowing what percentage of the asking price we expected to deliver to her. Many Realtors use these statistics as a marketing tool for themselves by saying “Sold for 110% of the asking price!” As Realtors we know these statistics don’t carry much weight. However, from the perspective of a potential seller the listing agent looks like a superstar, right?
Pricing your Toronto condo for sale is one of the most important parts of the selling process. Determining the listing price depends on a few factors, such as market conditions, comparable sales and of course the unit itself- taking into consideration layout, location and condition. There are few pricing strategies that can be considered once a seller is ready to go to market.
1. A common pricing strategy in a strong buyer’s market is to under price the property and hold off offers until a certain date. It is the seller’s home to generate a multiple offer situation which will in return push the selling price above the asking price. Although the selling price is above the asking price, it does not necessarily reflect that the seller got any more for the property than true market value. It is by using this strategy that you will see agents marketing themselves by stating they sold over the asking price. Keep in mind that a major concern with this strategy is that the buyer can’t actually afford the price of the property generated by the multiple offer situation. More times then none, their original budget was the listing price- not the selling price which can at times go as much as $50 000 over the original asking price.
2. Another strategy is to price the property at market value. This strategy is a safer strategy as it targets the right buyers. If a buyer has been financially pre approved for a mortgage, they know exactly how much they can afford. An offer received that is conditional on financing approval will not be such an issue as the buyer’s have likely already been pre approved at the listing price.
3. A final strategy that is not as common as others is overpricing the property. This option works at it’s best when sellers have no urgency to vacate or don’t have any financial pressure to sell. A seller must carefully consider this option before listing their property as the buyer will most likely be someone who has been waiting specifically for that unit to come onto the market. In other words, the buyer pool will be much smaller for an overpriced unit, however an end user, who has been waiting for the unit will always pay a premium for their primary residence.
In short, don’t be fooled by marketing material that suggests that properties have been sold for well over 100% of asking. As you can see there are many different stratgies that can be carried out when deciding to list and sell your Toronto condo. Take the time to carefully consider which option best suits you.
Pricing your Toronto condo for sale is one of the most important parts of the selling process. Determining the listing price depends on a few factors, such as market conditions, comparable sales and of course the unit itself- taking into consideration layout, location and condition. There are few pricing strategies that can be considered once a seller is ready to go to market.
1. A common pricing strategy in a strong buyer’s market is to under price the property and hold off offers until a certain date. It is the seller’s home to generate a multiple offer situation which will in return push the selling price above the asking price. Although the selling price is above the asking price, it does not necessarily reflect that the seller got any more for the property than true market value. It is by using this strategy that you will see agents marketing themselves by stating they sold over the asking price. Keep in mind that a major concern with this strategy is that the buyer can’t actually afford the price of the property generated by the multiple offer situation. More times then none, their original budget was the listing price- not the selling price which can at times go as much as $50 000 over the original asking price.
2. Another strategy is to price the property at market value. This strategy is a safer strategy as it targets the right buyers. If a buyer has been financially pre approved for a mortgage, they know exactly how much they can afford. An offer received that is conditional on financing approval will not be such an issue as the buyer’s have likely already been pre approved at the listing price.
3. A final strategy that is not as common as others is overpricing the property. This option works at it’s best when sellers have no urgency to vacate or don’t have any financial pressure to sell. A seller must carefully consider this option before listing their property as the buyer will most likely be someone who has been waiting specifically for that unit to come onto the market. In other words, the buyer pool will be much smaller for an overpriced unit, however an end user, who has been waiting for the unit will always pay a premium for their primary residence.
In short, don’t be fooled by marketing material that suggests that properties have been sold for well over 100% of asking. As you can see there are many different stratgies that can be carried out when deciding to list and sell your Toronto condo. Take the time to carefully consider which option best suits you.
Thursday, August 4, 2011
Icon Condo Availability
Currently there is a great 2 bedroom unit on a high floor with both parking and locker. This is a corner unit, just under 1400s/f with a terrace. Priced at just under $730 000, this unit is great for a young family or the young professional looking for some more space at home.
Click on Icon Condo for more information or to book a showing.
Click on Icon Condo for more information or to book a showing.
Tuesday, July 19, 2011
One Bedroom plus Den Unit Available
Currently there is a one bedroom plus den unit without parking and locker located for sale in The Icon.
Click on Icon Condo for more information and pricing or to view the unit.
Click on Icon Condo for more information and pricing or to view the unit.
Saturday, July 16, 2011
Toronto Life Magazine Feature
The August issue of Toronto Life Magazine features Erica Smith who was in search of a Toronto condo. After selling her place at the Icon, she ended up in the St. Lawrence Market area. Enjoy the story!
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Click on Icon Condos for more information on buying or selling your Icon Condo.
Friday, April 1, 2011
New Listing in The Icon: $315 000
We have a great new one bedroom with both parking and locker in 250 Wellington Street West. Parking spot has a prime location close to the elevators! Click on Icon Condo for more details and pictures.
Thursday, March 31, 2011
New Listing in The Icon
The Condo Chicks will be listing an incredible one bedroom unit in 250 Wellington Street in the next couple of days. Located on a high floor, it also has both parking and locker. Click on Icon Condos for a showing.
Thursday, March 17, 2011
Friday, February 11, 2011
The Truth about Open Houses
The process of selling your condo can be somewhat stressful and as Realtors, it is our job to market and sell your property to the best of our ability with the least cost and disruption to you and your family. There are many tools that we use to help in the sale of your home but one common misconception is that open houses and advertising it in the newspaper sell your condo. While these marketing tools may seem like a good opportunity for you as the seller, the truth is, open houses generally don’t sell a home.
According to The National Associations of Realtors, only 1% of homes are sold by conducting public open houses. Realtors use open houses as more of a prospecting tool then a way to sell the home. It is not uncommon for a listing agent to pass on the job of hosting an open house to a newbie agent as there is a very low chance of the home selling through this avenue. For newbie Realtors, open houses present a great opportunity to meet prospects who are in the market for a condo. When parties come through the open house, the Realtor has them put down their information on a sign in sheet. In addition to being a security measure, this list allows the Realtor to follow up with them and help them in their home search.
Another type of open house is what is called an "agent open house." This type of open house allows Realtors in the neighbourhood to have the opportunity to visit the property before it is exposed to the public. What is commonly forgotten is that Realtors have access to the most important tool for selling your home and that is the MLS system. If an agent has a client for your home, they will book a showing for their client through the MLS system. Not only is the property advertised freely to all the Realtors on MLS, but is also published on the public MLS site. From the public MLS site, buyers can search for your home and contact the listing agent if they want to view the property.
Another common misconception that sellers have is that newspaper and magazine advertising increases the odds of selling your home. Again, according to The National Associations of Realtors, only 3% of homes are sold by advertisement inquiries. Also keep in mind that these advertisements can be very expensive.
Realtors understand that sellers want everything possible done to sell their home however, Realtors also know that conducting open houses and newspaper advertising generally will not sell a home. In reality, Realtors bring the most serious and qualified buyers so focus on the types of marketing that attract the Realtors; having a well put together home that shows well and pricing right and then the qualified buyers will follow.
If you are looking to sell your toronto condo or home, click on Condo Chicks for more information.
According to The National Associations of Realtors, only 1% of homes are sold by conducting public open houses. Realtors use open houses as more of a prospecting tool then a way to sell the home. It is not uncommon for a listing agent to pass on the job of hosting an open house to a newbie agent as there is a very low chance of the home selling through this avenue. For newbie Realtors, open houses present a great opportunity to meet prospects who are in the market for a condo. When parties come through the open house, the Realtor has them put down their information on a sign in sheet. In addition to being a security measure, this list allows the Realtor to follow up with them and help them in their home search.
Another type of open house is what is called an "agent open house." This type of open house allows Realtors in the neighbourhood to have the opportunity to visit the property before it is exposed to the public. What is commonly forgotten is that Realtors have access to the most important tool for selling your home and that is the MLS system. If an agent has a client for your home, they will book a showing for their client through the MLS system. Not only is the property advertised freely to all the Realtors on MLS, but is also published on the public MLS site. From the public MLS site, buyers can search for your home and contact the listing agent if they want to view the property.
Another common misconception that sellers have is that newspaper and magazine advertising increases the odds of selling your home. Again, according to The National Associations of Realtors, only 3% of homes are sold by advertisement inquiries. Also keep in mind that these advertisements can be very expensive.
Realtors understand that sellers want everything possible done to sell their home however, Realtors also know that conducting open houses and newspaper advertising generally will not sell a home. In reality, Realtors bring the most serious and qualified buyers so focus on the types of marketing that attract the Realtors; having a well put together home that shows well and pricing right and then the qualified buyers will follow.
If you are looking to sell your toronto condo or home, click on Condo Chicks for more information.
Sunday, November 28, 2010
SOLD: 270 Wellington: $334,500
The Condo Chicks recently sold their 1 bedroom plus den listing with both parking and locker in The Icon. As the market is softer, it took a bit more "creative selling" to get this unit sold for our client. At the end of the day, our client is very happy! Listed at $334,500, The Condo Chicks got just shy of asking!
If you are looking to sell or to buy a unit in The Icon, contact The Condo Chicks!
Monday, March 8, 2010
New Website Launched
We have officially launched our principal website! Check it out at http://www.condochicks.com/
Don't forget to contact us for not only your Icon needs, but all of your condo needs!
Don't forget to contact us for not only your Icon needs, but all of your condo needs!
Thursday, March 4, 2010
New 1 Bedroom + Den Unit Coming Up for Sale
In a few weeks we will be listing a large 1 bedroom plus den unit on a high floor in the Icon.
Contact us for details!
http://www.condochicks.com/
Contact us for details!
http://www.condochicks.com/
Sunday, May 24, 2009
Power Outage: June 13, 2009
There will be no power in the Icon on June 13th, 2009 from 1am-2am and 6am-7am.
Friday, April 17, 2009
The Icon Condo Units for Sale
2 STOREY, 2 BEDROOM + DEN UNIT FOR SALE - $599,990
FEATURE SHEET
- 2 Bedrooms each with Ensuite bathroom
- 1 Powder room
- Designer Reno of 2 Storey Sub Penthouse Loft with 2 balconies.
- Custom & Upgraded finishes : granite, porcelain tiling, faucets.
- Built in home theatre
- 3" Maple Hardwood Floors
- 1 Underground parking spot
- South view
FEATURE SHEET
- 2 Bedrooms each with Ensuite bathroom
- 1 Powder room
- Designer Reno of 2 Storey Sub Penthouse Loft with 2 balconies.
- Custom & Upgraded finishes : granite, porcelain tiling, faucets.
- Built in home theatre
- 3" Maple Hardwood Floors
- 1 Underground parking spot
- South view
If you are interested in a private viewing or have questions please contact us.
If you are an agent & would like to add you listing, contact us.
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