Evaluating Your Options

Here is another email thread I wrote to a couple trying to evaluate their options and clouded by their past.

I am the first to admit that my views and opinions expressed here are quite strong, but isn’t it what we are supposed to do as professional: to provide strong guidance and advice and to express our opinions and beliefs?

Did you have a chance to look through a few properties I sent you in the last few days?

Click here to view Properties of Interest

Morning

Yes, sorry. One of those weeks. 

Nancy is loathing the Danforth Village properties. This is a hard enough adjustment for her and she perceives returning back to the area in which we used to reside to be difficult to take. 

That said, she is entranced by the Old Toronto First Ave / Surrounding Leslieville area. And the Blake Jones pocket. 

I know I know!  Limitations. I understand her feelings, i've  told her we that need to monetize our asset, to take a step back in order to move forward, but she is a proud person and has trouble with the idea of returning to a neighborhood we moved away from 10 years ago. 

Keep sending. 
Sent from my iPhone

Sorry to be blunt but that is what I do as a professional: expressing my views;

10 years ago Riverdale was not the Riverdale it is today, is that correct?

It has heated up and priced itself out for many. It has appreciated through the roof. You just happened to hit a sweet spot by landing here. We all have.

As it appreciated beyond all norms, it has many buyers who no longer can afford it, looking on the periphery. Hence Leslieville and South Riverdale and Riverside were born out of nothing and nowhere

Now these districts, as they become more of a established neighborhoods, are attracting a lot of attention and money. They too are getting pricier

The point is this: Danforth village of 10 years ago was nothing, no man’s land. As these districts are heating up, buyers are searching for new pockets. In my personal view, Danforth village is the next spot.

I think it has the most upside potential of all these other areas. It is still affordable, it is along the subway line, schools are better, families are moving in, shops are flourishing, Starbucks are coming in…you get the point.

The main purpose of what you want to do is to cash in on the big area where you have made lots and to “cash down” in buying into the area where it costs less but has more upside potential.

Selling in one pricey area to buy into another pricy one? What’s the point? It defeats the purpose of this whole exercise.

It is all in your (Nancy’s mind). Danforth village is not what it used to be, nor what it will be 10 years from now. Buy low sell high, I am sure you have heard of it. that is what you are trying to do.

That is what I believe Danforth village is going to do. I walk along that stretch of Danforth and I can see what Broadview to Pape used to be, then Pape to Jones, and Jones to Woodbine is going to be next, I already see it happening. What Riverdale is today is not the way it looked even 10-15 years ago, it looked the same as Jones to Woodbine looks today

Having said that, it is not your only option. The pocket is good. South Riverdale and Leslieville is good too, but trust me, there are no great bargains there either.

That is a lot of words to say one thing: for the things to change in your life, you need to change things in your life, in your case, your view of the past.

I don’t mean to preach, as I said, you do have other options, I am just saying you need to reevaluate and to keep an open mind, free of past so you can clearly see the potential future