How are the homes for sale in Woodbridge, Maple and Toronto doing?
Recine Team Report Compliments of Melanie & Fabio RE/MAX Premier Inc., Brokerage Toronto Market Looking Up! With a 21 percent increase in home sales through the Toronto MLS® system in June 2011 compared to June 2010, and a 9.5 percent increase in average price for June transactions over the same period, it certainly appears that the Toronto market is looking “up”! In fact, the 10,230 sales ﬁgure resulted in the third best June on record. Melanie Maranda Recine & These most recent numbers provide a be on track for a record number of Fabio Recine Sales Representatives positive insight into what is to come. transactions in 2011 if not for the decline in listings so far this year.” “The strong June result capped off "Its your call Call Melanie and Fabio" an interesting ﬁrst half of 2011,” says “Tight supply meant more Toronto Real Estate Board (TREB) competition between home buyersRE/MAX Premier Inc., Brokerage President Richard Silver. and an accelerating annual rate of9100 Jane Street, Bldg. L, Suite #77 price growth in the second quarter.” “The pace of sales was a bit sluggishVaughan, ON L4K 0A4 at the beginning of the year, but “Home owners will likely react to rebounded in May and June. Because the stronger price growth by listingOffice: 416-987-8000 of the positive affordability picture, their homes in greater numbers. AFax: 416-987-8001 home buyers remained conﬁdent in better supplied market would resultDirect Melanie: 647-836-4062 their ability to purchase and pay for in more moderate price increases,”Direct Fabio: 416-828-5441 a home over the long term.” predicts Mercer.firstname.lastname@example.org@trebnet.com Jason Mercer, TREB’s Senior Manager Is a real estate move in your sights?www.RecineTeam.ca of Market Analysis, adds, “While Simply call for a personal home sales have been strong, we would evaluation, today!Greetings! 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 Fabio Courtesy of the Toronto Real Estate Board. TREBEach office is independently owned and operated. Volume 7, Issue 8
Inviting InspirationWhether you’ve just moved into your very first home and you’re working with a blank canvas, or you’reredecorating your home for the fifth time, coming up with decorating ideas can be a challenge. Luckily,inspiration can be found everywhere. Here are a handful of places from which you might invite some ideas.The GreaT OuTdOOrs wallpaper borders, fabrics, and even furniture. are youWith its brilliant hues, intricate patterns and varied a wine enthusiast? Think rich burgundy curtains, wine-textures, nature is an ideal source from which to draw themed artwork, and vine-like patterns on fabric or ininspiration. We have such a profound connection to our metalwork. The great thing about taking your inspirationsurroundings that it makes perfect sense to bring some from something so personal is it makes for a décor that’sof the outdoors in. do you love spending time at the truly reflective of who you are.beach? Think marine blues and greens, nautical stripes,and driftwood sculptures. Feel more at home roughing it in The mediain the wild? Think hard woods, stone and earth tones. never have there been so many TV shows devoted to home décor — there are even entire networks dedicateda PaGe FrOm hisTOry to the topic. But, while these shows are entertaining,different historical periods are indelibly associated with they’re less practical than looking to magazines andcertain aesthetic looks. so, if there’s a particular period catalogues for ideas, as you can rip pages out and takethat fascinates you, why not revive it at home? Take the them with you as reference while shopping. and, withart deco style of the early 20th century, for example. catalogues, you’ll know exactly where to buy what youyou can recreate it with a color palette of black, white, like; similarly, magazines often indicate where featuredcream, beige and pastel accents. Black lacquer cabinets, items can be bought.mirrored accents, chrome hardware, wood furniture, andglass tabletops help complete the look.mOdel PerFecTmodel homes are an excellent source of ideas because Go Greenthey’re decorated by professionals — professionals who As you shop for furniture and accessories toare up on the latest trends, who know how to make complete your new décor, think locally. Not only do you help support your community by buyingspaces seem bigger than they are, and how to highlight locally made goods, you help the environment,a home’s best features, for example. Why not bring your too, by reducing the harmful effects ofcamera along and take pictures for later reference? transportation, such as pollution. If you can’t buy local, buy sustainable, which means purchasingWhaT dO yOu dO FOr Fun? items made from recyclable resources or madedo you have a hobby that might lend itself to a by companies committed to environmentallydécor theme? For book lovers, there are book-themed friendly manufacturing processes or both.2
Going Local Mind the GapYou may have heard the adage that “every Ideally, you’d always be able to coordinate yourmarket is different.” But do you know why? closings so that you sell one home and buy theHere’s a look at just a few of the many factors next on the same day. But things don’t alwaysthat make every real estate market unique. go so smoothly. So what do you do when your closings don’t line up?n Demographics. Which kinds of properties are — and will be — in demand in any particular market? That The more risky of two scenarios is that you’re closing depends, in part, on its demographic characteristics, on the purchase of your new home some time before such as age, income, family size, growth rate, and closing on the sale of your old one, and you’ll be migration patterns. For example, if retirees are flocking saddled with two mortgages. If you can’t finance them to a particular area, demand for condos there might both on your own or with help from family, talk to a increase. And as demand increases, so will prices. lending consultant before you put your current homen Inventory. This is relative to the supply side of the on the market — you may be able to borrow against equation; that is, how many properties are available the equity in your old home in order to finance the for purchase? The answer differs between markets, due purchase of your new one. to factors like housing starts, for example. Whether a particular community is experiencing a buyer’s market The less risky possibility is that you’re closing on your or a seller’s market largely depends on inventory levels. current home before your new one, in which case you’ll be homeless for a time. One option is a rent-backn The job market. Back to the demand side of the provision, which allows you to rent your recently sold equation, is the local job base growing or shrinking? home from its new owners; this strategy will limit your In markets experiencing job growth, demand for pool of buyers to those who don’t require immediate housing tends to be higher and, in turn, property values occupancy, however. In any case, you’ll need to find increase. Conversely, if a major local employer closes temporary accommodations, not just for you but for its doors, for example, the demand for and value of your belongings and any pets you may have as well. properties may decline. However you choose to bridge the gap between yourReal estate sales representatives are experts on theirlocal markets — they know who a particular market’s two closings, plan ahead and don’t forget to account forbuyers are, and what those buyers want; they know the added expenses (e.g., borrowing money; arranginghow much local inventory is available; and they’re short-term accommodations) as you organize andknowledgeable about the economic factors that budget for your move.influence property values. Whether you’re a buyer ora seller, this information is critical to your pricing andnegotiating strategy.Volume 7, Issue 8 3