Om034335 volume 8, issue 2 treb-a


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Om034335 volume 8, issue 2 treb-a

  1. 1. TREBCourtesy of the Toronto Real Estate Board.2011: The Second-Best Year for Toronto Home Sales!Toronto rang out 2011 with newsfrom Greater Toronto REALTORS®that,with 89,347 sales within the currentToronto Real Estate Board (TREB)boundaries, 2011 was the second-bestyear on record!“Low borrowing costs kept Buyersconfident in their ability to comfortablycover their mortgage payments alongwith other major housing costs,” saidTREB President Richard Silver. He added,“If Buyers had not been constrained bya shortage of listings over the past 12months, we would have been flirtingwith a new sales record in the GreaterToronto Area.”The average selling price for December2011 was $451,436 – up four percentcompared to December 2010. For allof 2011, the average selling price was$465,412, showing an increase of eightpercent in comparison to the averageof $431,276 in 2010.“Months of inventory remained belowthe pre-recession norm in 2011.Very tight market conditions meantsubstantial competition betweenBuyers and strong upward pressure onselling prices,” said Jason Mercer, TREBSenior Manager of Market Analysis.Mercer continued, “TREB’s baselineforecast for 2012 is for an averageprice of $485,000, representing amore moderate four percent annualrate of price growth. This baselineview is subject to a heightened degreeof risk given the uncertain globaleconomic outlook.”Wondering how your home fits intotoday’s market and what the housingforecast is for 2012? Please call for ano-obligation discussion today!Sales & Average Price By Major Home TypeDecember 2011 Sales Average Price416 905 Total 416 905 TotalDetached 581 1,512 2,093 $701,846 $525,360 $574,351Yr./Yr. % Change 4% 12% 10% 3% 4% 3%Semi-Detached 202 289 491 $517,152 $365,417 $427,842Yr./Yr. % Change 20% 12% 15% 10% 9% 10%Townhouse 199 517 716 $372,164 $333,359 $344,144Yr./Yr. % Change 3% 20% 15% -7% 8% 2%Condo Apartment 943 363 1,306 $351,104 $275,173 $330,000Yr./Yr. % Change 7% -3% 4% 3% 9% 5%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 2
  2. 2. 2For Small Rooms Choose furniture that’s not only small in size, but openin design – think sofas and chairs with exposed legsand without arms, tables with glass tops and bookcaseswithout backs. Don’t place furniture where it willobstruct pathways or views: the further the eye can seeinto a room, the bigger it will seem to be. Flooring should unite spaces, not break them up,lending small spaces uninterrupted visual flow. Connectrooms with continuous hardwood floors or carpetingthroughout your home, and, where rugs are desired ornecessary, opt for one solid-print area rug instead ofhaving several smaller, patterned ones scattered around. Be color-conscious. Light, soft hues – whites, creams,pale blues, greens and yellows – help lend small rooms asense of airy spaciousness. Also opt for a monochromaticcolor scheme – when colors contrast, you lose some ofthat visual unity, mentioned above, that’s key to trickingthe eye into believing the space is bigger. Speaking of light, window coverings should be gauzy,so as to let in as much natural light as possible. Centraloverhead lighting has the effect of “pulling” walls in, soscatter light sources around the room – recessed lightingis ideal for small rooms. Take advantage of mirrors toreflect windows and artificial light sources.For Large Rooms Unlike small rooms, where furniture should be positionedagainst the walls to avoid breaking up the space, in largerooms, furniture should be brought out from the walls,directing traffic around the room’s perimeter, and placedin distinct groupings serving different purposes, likereading, talking and watching television. Go big and bold. Think large scale, in your furniture, inyour artwork, in your plants, in your light fixtures, andin your patterns (do avoid vertical and horizontal stripes,though – they’ll emphasize the room’s height or width).Proportion is key. Opt for heavy, rich, textured fabrics fordrapes and pillows, and thick, plush rugs. For your walls, pick a warm, dark hue. If you preferwallpaper to paint, consider something textured orembossed (remember: large patterns). Paint your ceiling;if you have high ceilings, use a shade darker than yourwalls and consider installing moldings a few feet below –both tricks help “lower” the ceiling. Avoid stark lighting – halogen and fluorescent lightsaren’t exactly cozy. For an intimate atmosphere, youwant soft, warm, ambient light (in addition to any tasklighting needed for whatever activities you use the roomfor). Think low-wattage incandescent light, lots of tableand floor lamps, and wall sconces.Rooms that are shy on square footage can present a decorating challenge for homeowners, as can roomsthat have square footage to spare. How do you make a small room look more spacious? How do you makea big room feel more cozy? Below are some suggestions to help you solve either décor dilemma.
  3. 3. Volume 8, Issue 2 3 Remind yourself that your feelings are a normalreaction and that you’re far from the only homebuyerwho’s ever doubted, in the face of an imminent closing,that they made the right choice. You’ve made a bigdecision – it’s perfectly natural to second-guess yourselfafter having done so. Stop shopping! Unless you’ve reason to believe the dealmay fall through (e.g., due to the home-inspectionresults), continuing to look at real estate listings canonly serve to further confuse you and exacerbate yourdoubts. Fact is, you’ll always find properties whose grassseems a little greener, so once you’ve committed to aproperty, it’s best to step away from the Internet andclose those classifieds! Review your search criteria. If you made a “needs vs.wants” list before you started home hunting, now’s thetime to pull it out and go over it again. Taking stockof the criteria that served to narrow your search downto this home will help remind you that you made thewisest decision possible, given your needs and budget. If you didn’t make a list prior to home-hunting, makeone now. Write down everything you love about thehome and its location. Also write down any concernsyou have. Committing your thoughts to paper canput things in perspective – helping you realize yourconcerns lack merit, for instance.The right kind of buyer is one who’s serious aboutbuying. They’re not looky-loos or tire-kickers, onlyattending open houses because they’re just dying tofinally get a look inside a neighbor’s place, or to getsome reno and décor inspiration for their own homes,or because they have extra time on their hands on aweekend afternoon.The right kind of buyer is one who’s not only able toafford your property, but who is financially preparedto purchase it. They’re ready to make an offer. They’vebeen pre-approved and pre-qualified by a lendinginstitution, meaning they won’t present a stumblingblock mid-transaction due to financing problems.The ideal kind of buyer is a buyer who can make a cleanoffer – that is, one with no or minimal contingencies.While an inspection contingency is typical andshouldn’t turn sellers off, a buyer whose offer isconditional upon the sale of their home might not bethe right buyer for you.So how can you distinguish the right kind of buyerfrom the wrong kind of buyer? That’s where your realestate sales representative can help. It’s part of theirjob to screen buyers on your behalf, weeding out poorprospects and focusing on those who are more likelyto facilitate a quick, smooth sale — saving you time,energy, and even money.Pricing your home competitively is key to getting itoff the market sooner – as is not wasting time andenergy on the wrong kind of buyer. So who is theright kind of buyer?Buying or“Just Looking”? Even seasoned homebuyers can sometimes findthemselves suffering a case of cold feet after signingan offer to purchase a home. Below are somestrategies to help you cope with buyer’s nerves.Fear of Commitment
  4. 4. Everyone likes to save a few bucks, but when it comesto home repair and renovation, it doesn’t always pay totake the do it yourself approach. Below are five projectsbest left to the professionals. Roofing. The risk of injury is reason enough to leaveroofing projects to the experts, but in addition,mistakes here can quickly lead to more serious andexpensive problems, like water damage, mold, andfoundation issues. Electrical work. Safety is a concern here too: onemisstep could result in electrical shocks and fires. Evenif your handiwork poses no physical threat, poweroutages and shorts could arise, and your house mightnot be up to local code, posing problems should youdecide to sell it. Plumbing. A plumbing project gone wrong might notbe as big a safety issue, but it can certainly wreak alot of damage. A botched plumbing job can lead toleaks, which can in turn lead to problems rangingfrom rot and mold, to a more expensive water bill, tofoundation issues. Window installation. Improper installation couldresult in air leaks, as well as making your house a lesscomfortable and more expensive place to live. HVAC (Heating, Ventilation and Air Conditioning).Inefficient HVAC systems can result in poor indoor airquality, unstable temperatures, and more expensivebills. Safety is also a concern, as electrical and chemicalcomponents are involved in HVAC repair, which mayrequire permits and meeting certain building codes.Remember, doing a big home maintenance job yourselfisn’t always as easy, or as economical, as it may appear.Projects for the ProsTerminology TipLien — A legal claim placed by a creditoron a piece of real estate to secure thepayment of a debt. A lien gives its holderthe right to sell the property to satisfythe debt if it’s not otherwise paid; whenthe debt is paid, the lien is removed.When buying a property, it’s importantto ensure, by means of a title search,that there are no liens against it thatcould prevent securing your clear title.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) 387-6058.2 Bedroom299KHandy Mans dream339KSold!!Fabio and Melanie RecineSales Representatives416-828-5441/647-836-4062Compliments of Melanie and Fabio RE/MAX Premier Inc., BrokerageVilla GiardinoHwy 7 and MartingroveKing City1 acreMississauga