Over the past decade or so the housing market has experienced some significant ups and downs. For some this has resulted in huge gains, but for others it has meant devastating losses. The overall result of this situation is that both buyers and sellers now need to be more market savvy. It is not so easy to sell a home any more and securing a mortgage can be quite a challenge, even for those with excellent credit.

Everyone now has to view property deals in a very different light. Instead of assuming that prices will just continue to rise, people are now aware that this is often not going to be the case and are hesitant to pay for a home that may decline in value. The entire North American market has been hit by this situation and the Greater Toronto area real estate listings are equally affected.

Despite there being many depressed areas in other parts of the country, the city as a whole seems to be doing well. Most neighborhoods are still seeing relatively fast sales and prices have not dropped too much. Sellers are seeing a slight price drop but nothing too dramatic. This really is excellent news as it helps to keep everyone confident.

Anyone considering getting into the property market must really understand the long term implications. By doing their homework properly they can not only secure a bargain, but avoid many of the costly pitfalls that have affected their friends and neighbors. No one wants to loose money when they sell their home, indeed this should not be necessary if they are patient and take the time to really understand how the real estate industry works.

One of the best ways to get a bargain in the competitive Toronto market is to consider buying a fixer home. These are properties that require some work. This can vary tremendously between something that just needs some new paint and a few cosmetic improvements to a house that needs to be totally overhauled from top to bottom.

Only those with serious experience in the home improvement business should take on a real project. This type of home will require a significant amount of time and expertise. Those who know what they are doing will be able to save a lot of money by doing the work themselves. People who are prepared to learn skills such as tiling and flooring can also save a lot by taking on these tasks themselves.

Fixer houses usually sell fast too. The Toronto, ON market is well known for its fast turnover, even when other cities are slow. The growing population and thriving job market have created robust real estate sales.

There is also a lively market for down town condominiums and apartments. These are very appealing to young professionals. There is no extra work to take care of and building maintenance is usually covered by a monthly fee. An on site gym or pool is also an advantage.

Read more about Looking At Greater Toronto Area Real Estate Listings.