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If you already own a piece of cottage country, it’s OK to feel smug. With professionals still lobbing the word ‘frenzy’ about when describing the real estate market, first-time buyers better be prepared to compromise and steel themselves for multiple-offer situations.
“Muskoka, like many smaller communities within a reasonable drive from the Greater Toronto Area, was particularly impacted by the migration out of the GTA and by buyers who accelerated their long-term plans to purchase a second property,” says John O’Rourke, broker, Royal LePage Lakes of Muskoka.
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