Om034335 volume 8, issue 3 treb-a


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Om034335 volume 8, issue 3 treb-a

  1. 1. TREBCourtesy of the Toronto Real Estate Board.GTA Springs Into Strong Real Estate SeasonSales & Average Price By Major Home TypeJanuary 2012 Sales Average Price416 905 Total 416 905 TotalDetached 559 1,577 2,136 $743,993 $530,129 $586,098Yr./Yr. % Change 9% 15% 13% 15% 5% 8%Semi-Detached 157 336 493 $526,599 $377,456 $424,952Yr./Yr. % Change -5% 16% 8% 6% 11% 7%Townhouse 194 531 725 $410,129 $340,957 $359,467Yr./Yr. % Change 10% 19% 16% 7% 10% 9%Condo Apartment 775 351 1,126 $343,835 $272,103 $321,475Yr./Yr. % Change -2% 1% -1% 5% 7% 5%Greater Toronto REALTORS®enjoyedan impressive start to 2012, reportingan 8.8 percent increase in salesactivity for January 2012 overJanuary 2011. The spring seasonpromises even more positive action.“A favourable affordability picturebolstered by very low postedfixed mortgage rates has kepthomebuyers confident in their abilityto achieve the Canadian goal ofhomeownership,” said Toronto RealEstate Board (TREB) President RichardSilver. “The buyer pool remainsdiverse in the GTA with stronginterest in home types across thepricing spectrum.”As year-over-year sales increased,so did the average selling price inthe GTA, with an average Januaryselling price of $463,534, showing anincrease of almost nine percent overlast January’s average selling price.“Low inventory levels have keptcompetition between buyers strong,resulting in robust annual ratesof price growth over the last year.Strong price growth is expectedto attract more listings. A bettersupplied market should result in aslower rate of price growth, especiallyin the second half of 2012,” saidJason Mercer, TREB Senior Managerof Market Analysis.Wondering how much your propertymight be worth in today’s market?Interested in seeing what otherhomes are selling for? Simply pick upthe phone and ask for a no-obligationproperty evaluation and the mostrecent market updates!Recine Team ReportCompliments of Melanie & Fabio RE/MAX Premier Inc., BrokerageEach office is independently owned and operated.Melanie Maranda Recine &Fabio RecineSales Representatives"Its your callCall Melanie and Fabio"RE/MAX Premier Inc., Brokerage9100 Jane Street, Bldg. L, Suite #77Vaughan, ON L4K 0A4Office: 416-987-8000Fax: 416-987-8001Direct Melanie: 647-836-4062Direct Fabio: 416-828-5441mmaranda96@hotmail.comfrecine@trebnet.comwww.RecineTeam.caGreetings! You’re receiving thisnewsletter with hopes that you find itinformative and entertaining.If you’re thinking of making a move, orare just curious as to real estate trendsin your area, please feel free to call atany time. It’s always good to hearfrom you!Best wishes,Melanie and FabioVolume 8, Issue 3
  2. 2. 2Money is a powerful motivator. Ask yourself if there’sprofit in selling items you no longer need. Thanks to theInternet (and sites like eBay, Amazon, and Craigslist)there are more ways than ever to turn your trash intosomeone else’s treasure. Also consider “trade in, trade up”programs where you swap things you don’t need (e.g.older electronics) for credit toward things you do. Youwon’t get rich via consignment stores and yard sales, butthe goal is less stuff – any financial benefit is a bonus.Remember, it’s the thought that counts. Sometimes, it’sthe memory associated with an item that makes it hard tolet go of: the gift given to you by a friend, or the knick-knack bought on vacation. But you don’t need to keep theitem in order to honor the giver or treasure the memoryattached; keep the thought instead. If it helps you let goof the item with a clear conscience, take a picture of itand put that in a scrapbook, along with the story of theitem’s origins.Think about the good your belongings could do for, or joythey could bring to someone else. When you consider thatthe clothes you no longer wear could help someone landa job or that the house wares you no longer use couldmean a family’s fresh start, letting go of stuff makes awhole lot more sense than hanging on to it. So in additionto that “sell” pile, make a pile marked “donate to charity.”Another stumbling block that makes it difficult to purgeis the question, “What if I need it someday?” Those whofrequently find themselves asking that question need toask themselves these questions: When did I last use it?How likely am I to use it in the future? What might theconsequences be of getting rid of it? Put items you never/rarely use, but think you might need, in a box and set adeadline (e.g. six months) – any boxed items not used bythe deadline are ones to purge.Focus on the positive. What do you stand to gain byparting with some of your things? Clutter can be a sourceof stress, so purging can actually be good for your mentalwell-being, allowing you to feel lighter and free. Maybeletting go of certain belongings will allow you to movepast painful memories and onto a new phase of life. Atthe very least, fewer things mean less stuff to clean and,when it comes time to move, less to pack up.Do you know someone who’s a bit of a hoarder? Or do you yourself have trouble parting with belongingsdoing little more than occupying space? Then keep reading – whether you’re downsizing to a smaller home orpurging as part of your spring cleaning ritual, here are some strategies to help make letting go a little easier.Learn to Let Go
  3. 3. Volume 8, Issue 3 3 Respect appointment times and open-house hours.Sellers often have to shuffle their schedules aroundto accommodate showings. Don’t cancel at the lastminute or show up late. Also, don’t surprise sellers byshowing up outside of established open-house hours. Exercise good etiquette when viewing homes. Don’tshow up with a crowd or with rambunctious kids;don’t bring food or drink inside; respect requests toremove shoes; don’t take pictures without permission;don’t rummage through closets, cupboards or drawers. Get pre-qualified for a mortgage loan. Given twobuyers, one pre-qualified, one not, with which do youthink sellers prefer to deal? Answer: the pre-qualifiedone, since the seller can be more confident suchbuyers are capable of obtaining the financing theyneed to seal the deal. Keep your comments to yourself. You might think thesellers’ taste in décor is dreadful or that their propertyisn’t worth nearly what they’re asking. You might eventhink voicing such opinions to the seller will net you abetter deal. Chances are you’ll just offend the seller, tonobody’s benefit. Think through an unreasonably low offer. Offeringsomething less than the asking price is par for thecourse, and there may be justifiable reasons to doso. But simply throwing out a number that’s basedmore on what you’d like to get away with rather thanwhat’s reasonable may just insult the seller. It’s overpriced. This is the top reason why qualityproperties don’t sell more quickly. Buyers tend toassume, rightly or wrongly, that a seller whose homeis priced above fair market value isn’t serious aboutselling or open to negotiating. As such, buyers may feelthey’d be wasting their time by even making an offer. It doesn’t show well. A home may have excellent “bonestructure”, be fairly priced, and boast a great location,but if it doesn’t perform well at showings, it won’t sellquickly. What makes for a poor performer? A homethat smells bad, is cluttered, dirty, dark, hasn’t beenwell maintained, or whose décor is seriously outdated. It’s inaccessible. Even if buyers could see past themess, if they can’t get inside the home to see it atall, they’re certainly not going to buy it. Sellers whoare too restrictive about showing hours, insist buyersmake appointments, require 24 hours’ notice, or cancelappointments, for example, are sellers who should beprepared to have their property linger on the market. The seller isn’t working with a real estaterepresentative. Owners taking the do-it-yourselfapproach to home selling often don’t have enoughtime or money to effectively market their properties.If they do find interested buyers, these sellers may lackthe knowledge (e.g. document preparation) needed tosee the sale through to completion, meaning the homeremains on the market.A property that doesn’t generate as much interestand sell as quickly as expected isn’t necessarilyone that’s flawed. There are several reasons whyperfectly good homes linger on the market. Beloware some of the most common.Spring’s here, which means the real estate marketis in high gear! Don’t run the risk of losing yourdream home to a competing buyer by inadvertentlydisrespecting the seller. If you’re looking to buy,please take a moment to consider these points.A Guide for BuyersA Guide for SellersTalk to your real estate representative aboutyour home-buying and selling needs to ensurethe smoothest, most successful transaction.
  4. 4. When it’s time to sell your house, your street’s appealcan be just as important as your home’s. Unfortunately,living next to (or near) that house – you know, theneighborhood eyesore – can be another obstacle on theway to a sale. What can you do?It’s worth checking local laws to see if there are anyordinances that would enable officials to step in;in some areas, for example, owners can be fined forproperty neglect. Good places to start include yourmunicipality’s building department, public-healthdivision and fire department.Of course, you could always try the direct route: talkingto the owner. However, avoid an adversarial approach:you never know – they could simply be too ill to keepup with maintenance. Consider offering your assistance,whether by helping them find affordable services, topitching in yourself – consider it just one more thingon your pre-sale “to-do” list. Your neighbors may alsopitch in to mow the lawn, remove weeds and trim theshrubs, even if it’s only to improve their own views ofthe property. A word of caution though: make sure youhave permission from the owner to step foot on theirproperty, as you don’t want to risk a trespassing charge.Lastly, you’ll want to make sure anyone so much asdriving by can clearly distinguish your property fromthe eyesore next door. Define property boundariesby meticulously maintaining your landscaping, andconsider adding shrubs or fencing if you don’t havesuch boundaries already.The Eyesore Next DoorTerminology TipContingency — A contingency is a writtenprovision in a real estate contract thatspecifies any conditions that must be metin order for the contract to become legallybinding. If those conditions are not met,the contract is null and void. Contingenciesare very common in real estate contracts,particularly in buyers’ offers. For example,buyers often make their purchase of aproperty contingent on obtaining financing,having the property professionallyinspected, or selling their current property.4The information and opinions contained in this newsletter are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the publishedinformation. This newsletter is provided with the understanding that it does not render legal, accounting, or other professional advice. Not intended to solicit properties or businesses listed for sale and agency agreements in place with other real estate brokers. Whole orpartial reproduction of this newsletter is forbidden without the written permission of the publisher. © Market Connections Inc.® 2012, Phone: (800) 387-6058.www.RecineTeam.caMelanie Direct647-836-4062Fabio Direct416-828-5441Fabio and Melanie RecineSales RepresentativesCompliments of Fabio Melanie Recine RE/MAX Premier Inc., Brokerage