Mike Holmes had it right on home-buying

RE: House prices in the GTHA

When the government puts forth legislation regarding the expensive real estate market, it should consider regulating rules for selling a house. Agents are using used car sales tactics not seen since the 1970s. Helping amateur home flippers sell off substandard renovations. They make claims of how professional the upgrades are, when it is simply lipstick on a pig.

They price homes below market value to spike interest and create bidding wars. During this, conditions like home inspections are waved. It should be mandatory to have inspections done either before or after the sale. I’ll bet a lot of these proud homeowners are in for a rude awakening in a few years.

Another fallacy is location, location, location. Be honest, you take pride in your home and surroundings and price your home based on its condition. Does that mean the neglected homes in your neighbourhood should be as valued? According to real estate rules a Pinto on a Porsche lot has the same value. Mike Holmes said it best about buying homes. You get a guarantee when you buy a toaster, but no protection when you make the most important purchase of your life. Let’s change this and other rules that apply to real estate. Jeff Campbell, Hamilton