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Ryan roberts real estate broker newsletter   june 2013
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Ryan roberts real estate broker newsletter june 2013

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Toronto Real Estate Market Updates and News. What to know about renovating your home.

Toronto Real Estate Market Updates and News. What to know about renovating your home.

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    Ryan roberts real estate broker newsletter   june 2013 Ryan roberts real estate broker newsletter june 2013 Document Transcript

    • BOSLEY REAL ESTATE LTD., BROKERAGE • 290 MERTON STREET, TORONTO M4S 1A9BUS: 416-519-4040 • FAX: 416-322-8800email: ryan@ryanroberts.ca • www.ryanroberts.catwitter.com/TOrealestate • blog.mydreamtorontohome.comPrinted on 100% post-consumer recycled paperB r o k e rRyanRoberts caW o r k i n g B y R e f e r r a lJune 2013May Market UpdateThere were a reported 10,182 sales through the TorontoMLS system in May 2013, representing a dip of 3.4 per centcompared to May 2012. Sales of single-detached homes in the GTA were up by almost one per cent compared to the sameperiod last year, including a three per cent year-over-year increase in the City of Toronto.“The sales picture in the GTA has improved markedly over the past two months. While the number of transactionsin April and May remained below last year’s levels, the rate of decline has been much smaller. A growing number ofhouseholds who put their decision to purchase on hold as a result of stricter lending guidelines are starting to becomeactive again in the ownership market,” said Toronto Real Estate Board President Ann Hannah.The average selling price for May 2013 sales was $542,174 – up by 5.4 per cent in comparison to $514,567 in May 2012.The annual rate of price growth was driven by the tight low-rise segment of the market and particularly by single-detachedand semi-detached home transactions in the City of Toronto. Average condominium apartment prices were also upslightly in comparison to last year.The MLS® Home Price Index (HPI) Composite Benchmark was up by 2.8 per cent year-over-year.“The annual rate of price growth in May was not surprising given the competition that still exists between buyers,particularly for low-rise home types such as single-detached and semi-detached houses. We remain on track for a three-and-a-half per cent increase in the average selling price for 2013 as a whole,” said Jason Mercer, TREB’s Senior Manager ofMarket Analysis.Green Tip:Spring time transitioning into Summer means that we will have access to great local produce! Our growing season hasbeen delayed this year according to local farmers due to colder weather and heavier rain. Buying local foods saves ontransportation pollution, and buying organic is even better.Book of the Month:7 Habits of Highly Effective People - Stephen Covey - An absolute classic book that not only helps one in business but alsowith personal interactions. Stephen passed away recently, his insights will live on in these pages. This book really helps onelive their life without “systems” of success.
    • BOSLEY REAL ESTATE LTD., BROKERAGE • 290 MERTON STREET, TORONTO M4S 1A9BUS: 416-519-4040 • FAX: 416-322-8800email: ryan@ryanroberts.ca • www.ryanroberts.catwitter.com/TOrealestate • blog.mydreamtorontohome.comPrinted on 100% post-consumer recycled paperB r o k e rRyanRoberts caW o r k i n g B y R e f e r r a lFeatures Listing:21 Glenbrae AveOffered for sale at: $1,899,0005 Things You Think Would Add Value To Your HomeBut Really WON’T:5) Invisible Improvements - Okay, I know this sounds ridiculous but hear me out on this one…New plumbing, roof, HVAC(heating, ventilation and air conditioning), etc. These are expected in a house. Not having one of these will hurt the value,but no one will pay you to have kept your home up to a reasonable standard.4) High-end Upgrades - Just because you love you marble floors stained with 17th century bordeaux red wine it is highlyunlikely that the buyer will pay extra for this as it is really a subjective value. Upgrade your features according to theneighbourhood no matter what your love of classical France is.3) Over-the-Top Landscaping - Don’t do too much to your garden to the point where it will be laborious work to theprospective buyer. Perhaps the buyer won’t take the time to keep the yard up nor wish to pay a small fortune to have thepros manage it.2) Don’t Over Build Your Home - What I mean by this is if your average home value is 800K in your neighbourhood itwouldn’t be a wise decision to spend 600K on your home as it would likely be far and above a realistic resale expectation,i.e. it is once again unlikely that someone would pay 1.4+ million for your renovation/build.1) Swimming Pools - I get this question a lot! (yes, even in Toronto where there are few properties that are bug enough for abackyard pool). You may be a fish or love to sun tan by the pool but that cost will not be recuperated on sale - in fact it maylover your value! The cost to upkeep the pool can be too high for those buyers who are not fish. Also, the buyer may desirea usable backyard versus a cement pond!* Remember - always consider your buyer, feel free to ask me about what you are considering. Every question shouldbe considered to protect your investment. When doing a renovation or smaller work on your home keep your potentialbuyer in mind, always ask your what your buyer may want down the road.