Om034335 volume 8 issue 9_treb-a


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Om034335 volume 8 issue 9_treb-a

  1. 1. Prices Rise, Sales SettleInformation courtesy of the Toronto Real Estate Board.TREBSummer results from the TorontoReal Estate Board (TREB) showeda total of 7,570 sales in July 2012,a slight decline from totals a yearearlier, with the difference attributedto the condominium apartmentsegment in the City of Toronto.TREB President Ann Hannahexplained the 1.5 percent decreasein sales from July 2012 compared toJuly 2011: “Very strong annual salesgrowth in the first half of 2012 andan earlier peak in sales this springcompared to 2011 help explain moremoderate sales this summer. Newmortgage lending guidelines andthe additional upfront cost of theCity of Toronto land transfer tax alsoprompted some households to puttheir buying decision on hold.”The average selling price in July2012 was $476,947 – up by fourpercent compared to July 2011. TheMultiple Listing Service®Home PriceIndex (MLS®HPI) composite index,which allows for an apples-to-applescomparison of benchmark homeprices from one year to the next, wasup by 7.1 percent year-over-year.“The GTA housing market becamebetter-supplied in recent months.Buyers benefited from more choicein the marketplace, resulting in lessupward pressure on the averagehome price in July,” said JasonMercer, TREB Senior Manager ofMarket Analysis.How are things going in your neckof the GTA? Please remember thatthe latest updates on the areasthat interest you are just a phonecall away!Sales & Average Price By Major Home Typejuly 2012 Sales Average Price416 905 Total 416 905 TotalDetached 852 2,729 3,581 $752,431 $552,239 $599,869Yr./Yr. % Change -4% -1% -2% 8% 5% 6%Semi-Detached 272 509 781 $526,979 $389,592 $437,440Yr./Yr. % Change -14% 2% -4% 5% 5% 4%Townhouse 323 980 1,303 $416,084 $357,166 $371,771Yr./Yr. % Change -5% 24% 15% 3% 5% 4%Condo Apartment 1,246 507 1,753 $347,996 $279,603 $328,216Yr./Yr. % Change -13% -2% -10% -1% 1% -1%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 9
  2. 2. 2Poor LightingWhen done right, lighting lends a room a warm, invitingatmosphere while providing enough light to carry out thetasks for which you use the room. Too common, however,are rooms so dark they give new meaning to “man cave”or so harshly lit they make you feel like you’re on stage.Often, the problem is a single overhead fixture. Roomsshould have three layers of light: ambient, for generallighting; accent, for highlighting features like bookcases orartwork; and task, for reading in the bedroom or choppingveggies in the kitchen, for example. Dimmer switches andsoft white light bulbs are very useful in the creation ofgood lighting schemes.Hanging Artwork Too HighMake artwork difficult to see and you defeat its purpose.Hang it where it can be comfortably viewed: at eye level.Keep in mind that “eye level” differs between standing andsitting positions, of course, so when hanging art, considerwhere it will be viewed from – art to be viewed whileseated at your dining table should be hung lower than artin your hallway, for instance. Rules of thumb: “eye level”for most people is 60 to 65 inches from the floor to thecenter of the artwork; there should be six to eight inchesbetween the top of a furniture piece and the bottom ofthe artwork hung above it, so that the art anchors to,rather than floats above the furniture.ClutterAccessory overload is an all too common affliction:picture frames obscuring every available surface,collectibles everywhere you look… In additionto being visually draining and making roomsappear smaller than they are, clutter is mentallydraining, adding to your stress level andmaking you feel a lack of control over yourlife. Edit your stuff: if you don’t use orlove it, it goes; consider rotating yourknick-knacks so that only some areout at any one time – changingthem with the seasons, forexample, can help keep yourdécor fresh. For greaterimpact, keep collectiblestogether instead of placingthem throughout the room.Awkward Furniture ArrangementsOft-seen mistakes include: pushing all the furniture backagainst a room’s walls, leaving a void in a room’s middle,making conversation difficult; traffic paths that don’tallow enough walking space around your furniture or thatdirect people through the conversations or activities takingplace in the room; layouts in which seating areas aren’taccompanied by a place to set down, at the very least, adrink; placing all the visually “heavy” pieces of furnitureon one side of the room, resulting in a space that’sunbalanced; and overlooking proportion, in terms of howpieces relate to each other (e.g. diminutive tables next tooversized sofas).Décor Don’tsTrends come and go, but there are some décor decisions that are just never en vogue. In fact, they canoutright sabotage the look, and sometimes the functionality, of your room. Below are four mistakes thatdecorating professionals would agree are cardinal decorating sins.
  3. 3. The Final AnalysisVolume 8, Issue 9 3Not to be skipped, your final walkthrough is your lastchance to ensure your new home is conveyed toyou in satisfactory condition. Here are a few wordsof advice about your pre-closing viewing.At Your ServiceA professional cleaning service. Whether you hirethem to get your home sparkling clean from top tobottom before it goes on the market, or just to come inregularly to maintain things while it’s for sale (or both),a cleaning service can do wonders for your stress levels.A professional organizer. Don’t know how to tackleyour clutter? So used to it you can’t even see it? Anorganizer can simply identify your problem areasand provide you with a to-do list, or get hands-on inhelping you clear your clutter. You’d be surprised howaffordable their services can be.Temporary storage. Showing your home off at itsmost spacious state might necessitate off-site storage.Portable containers are ideal for those on the move– have your things delivered right to your new door!There are even climate-controlled storage units for yourmore delicate stuff.Junk removal service. What to do with all that clutter,the dilapidated furniture taking up space? If you’ve gota lot of stuff you don’t want going with you to yournew address, consider hiring a junk removal company(perhaps even a green one – they exist!) to deal with itbefore buyers see it.True, such services are an additional expense, but whenyou consider that studies have consistently shownthe return on investment for simply cleaning anddecluttering to be around $2,000, a little professionalhelp may be well worth the cost.Surveys agree that cleaning and decluttering isthe most low-cost, high-return home improvementa seller can make. To help you get (and keep)your home clean and clutter-free, consider availingyourself of any of the following services.If the seller is present during your walkthrough, it maybe beneficial. No one knows the property better, so it’sa great opportunity to ask questions about it, your newneighbors, or the neighborhood. Also ask for their newcontact info, for forwarding mail after you’ve moved in.Your real estate representative should attend yourwalkthrough. Not only can they keep you from gettingdistracted (mentally arranging your furniture), theyknow what to check for, and should there be problems,can advise you of your options and immediately contactthe seller’s representative.If permitted, take a camera so you can document anyproblems. If you took any photos of the home duringprevious visits, bring them along too, so you cancompare its condition then to its condition now, as wellas identify and more closely investigate spots that werecovered by furniture or rugs, for example.Bring your contract so you can ensure that all itemsincluded in the sale have been left behind and that allagreed-upon repairs have been made. You might alsowant to bring the home-inspection report so you cancheck if any problems revealed (but not repaired perthe contract) have gotten worse.Ask the seller to provide you with any manuals andwarranties for the home’s appliances and such.Warranties and invoices for any work done on the homebefore closing will also be very useful to you as the newowner, so ask for those too.
  4. 4. Living in your new house while still trying to sell the old one?You know that carrying two mortgages can be costly enough.To make the house you’re trying to sell less expensive tomaintain, here’s what you can – and shouldn’t – do to loweryour utility bills.First of all, don’t be tempted to shut off all the utilities atyour listed house. Doing so could cause it to linger on themarket longer, costing you – rather than saving you – money.A house that’s dark, or too hot or cold, or where fixturescan’t be tested, is not a welcoming one for potential buyers.Don’t be in the dark about your utilities. Instead, takethese steps to lower the costs of maintaining yourunoccupied house: Unplug your appliances. So long as your utilities are stillon, appliances can simply be plugged back in for any buyerwho doesn’t want to wait for the home inspection toconfirm that they work. Turn off your water heater. Buyers might want to flushtoilets and run faucets to check out the water pressure, butthe water needn’t be warm in order for them to do so, sowhy pay to heat it? Program your thermostat to shut off when reasonableshowing hours are over. It may not need to be on between8 p.m. and 10 a.m., for example, when buyers aren’t likelyto be viewing your house. (If there’s any chance of waterpipes freezing, simply lower the thermostat instead.) Replace your air filter. Dirty filters force your HVAC systemsto work harder, using more energy. Clean filters alsohelp maintain indoor air quality, which is important in avacant house.With these tips you can maximize your home showings whileminimizing your utility costs!Low(er) MaintenanceTerminology TipMortgage modification — is a processwhere the terms of a mortgage aremodified outside the original terms ofthe contract agreed to by the lender andborrower (i.e. mortgagee and mortgagor).A loan modification will typically result ina change to the loans monthly payment,interest rate, term or outstanding principal.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