David began his career as an appraiser right after completing his university studies.
“A finance professor, who specialized in real estate, played a pivotal role in guiding me towards this profession. I earned my P.App, CRA designation over nine years ago.”
Being an appraiser is a career choice that David finds rewarding on a variety of levels.
“I enjoy the opportunity to meet a diverse range of people, each with their unique stories and circumstances. Additionally, tackling complex properties that require creative problem-solving is especially fulfilling. I also like the challenge of managing the company to ensure smooth operations and growth.”
Delivering an elevated level of service to his clients is something David is strongly committed to.
“For example, once a bank reached out to me to appraise a property on Toronto Island. This required a deeper level of research and analysis to ensure an accurate valuation, and I put in considerable effort to navigate the nuances involved. After successfully completing that appraisal, I was called upon for more properties on the island, allowing me to develop a specialized expertise in this niche market.”
Conducting business in a consistent, professional manner is also very important to David.
“For me, professionalism means not just meeting expectations but going above and beyond to ensure that my work is thorough, objective, and reflective of the true market value. I want every client to have confidence that I’ve done everything possible to deliver the most accurate and unbiased appraisal.”
In Toronto, the marketplace that David serves, there’s been a shift in the condo landscape.
“The Toronto condo development market is currently experiencing a standstill due to several economic factors. Builders are facing construction costs of approximately $1,400 per square foot, while buyers are only willing to pay between $1,000 and $1,100 per square foot for new builds. At the same time, there’s been a noticeable shift in demand towards regions outside of Toronto, where real estate prices are lower. As a result, the suburban condo market is seeing more activity and investment, while downtown Toronto developments have slowed.”
One of the most significant developments in North America is the Port Lands revitalization in Toronto.
“This 880-acre project is transforming previously industrial and underutilized lands into a vibrant waterfront community. With a $1.4 billion investment in land remediation and flood protection, the area is being prepared for future growth. Once completed, the Port Lands will accommodate 18,000 to 25,000 residents, reshaping Toronto’s waterfront and making it a major focal point for new development.”
While the spring market in Toronto saw a brief increase in action, the momentum has slowed.
“The average home price in Toronto is currently around $1,070,000. There were 3,359 homes sold in Dec 2024, down slightly from the 3,419 homes sold in Dec 2023. More telling is this–both of these figures are noticeably less than the 10-year average of 4,761 homes sold.”
Active listings in Dec 2024 were up 48% (15,393) vs. Dec 2023 (10,368) too.
“This too is very high compared to historical trends for December.”