Om034335 volume 9 issue 5_treb-a


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Om034335 volume 9 issue 5_treb-a

  1. 1. Prices Continue to Rise for All Home TypesInformation courtesy of the Toronto Real Estate Board.TREBSales & Average Price By Major Home TypeMAR. 2013 Sales Average Price416 905 Total 416 905 TotalDetached 975 2,794 3,769 $846,828 $592,265 $658,118Yr./Yr. % Change -21.6% -16.4% -17.8% 2.8% 5.4% 4.0%Semi-Detached 314 573 887 $607,334 $403,031 $475,355Yr./Yr. % Change -15.1% -14.0% -14.4% 6.9% 3.1% 4.6%Townhouse 300 884 1,184 $450,104 $369,590 $389,990Yr./Yr. % Change -18.5% -13.5% -14.8% 7.5% 4.2% 5.0%Condo Apartment 1,266 505 1,771 $367,595 $278,984 $342,327Yr./Yr. % Change -18.7% -17.8% -18.4% 2.0% 1.3% 1.7%TREB President Ann Hannah noted that despite the rising prices, “There aremany willing buyers in the marketplace today. While some households have puttheir decision to purchase on hold as a result of stricter lending guidelines orthe additional Land Transfer Tax in the City of Toronto, other households simplyhaven’t been able to find the right house due to a shortage of listings in somemarket segments.”Properties in some Toronto neighborhoods, especially ones close to the coreand to public transit, are experiencing bidding wars due to lack of inventory,while others are charting a downturn in sales. Different home typesare also seeing different sales patterns, depending on if theproperty is a detached or semi-detached house,a townhouse or a condominium.Regardless of the structure,however, all average pricescontinue to show an increasein 2013 over the sameperiod in 2012.Although the number of sales was down by 14 percent comparedto the first quarter of 2012, spring 2013 sprung yet another month ofrising home prices in the city of Toronto, with the average selling pricein March rising to $519,879 – a 3.8 percent home price increase inMarch 2013 over March 2012.Whether you’re considering buying or selling in the Toronto market this year,remember that your one-stop information source about all things real estate isjust a phone call away. Please call anytime with your real estate questions!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 9, Issue 5
  2. 2. 2 Choose your paint wisely. Cheap paints use inferiorpigments and binders, meaning their hiding capabilitiesare lesser, they fade and wear faster, don’t adhere as well,and are more difficult to apply, which means workingharder and having to paint more often. If that matters toyou, buy the best paint you can afford. Use quality tools appropriate for the job. Good rollershave metal cages, plastic (not cardboard) cover cores,and dense fibers. Good paintbrushes have tightly packedbristles of varying lengths that are split at the ends. Foroil-based paints, use rollers and brushes with naturalcovers and bristles; for latex paint, opt for synthetics. If you can‘t remove furniture entirely, gather it in themiddle of the room, and cover it and the floor with dropcloths. Fabric cloths are preferable to plastic ones, whichare slippery underfoot (human or ladder) and stay wetwhen spilled on. Whatever type of cloth you use, tapeit down. Remove hardware: switch and outlet plates, doorknobs,light fixtures, hinges, handles, etc. Professionals may beable to paint around such items, but you probably don’twant to take the risk. Keep screws and such with theitems they belong to and label things as needed to avoidconfusion when it’s time to put them back. Smooth walls are critical, so surface preparation isimportant. Remove loose, peeling, or flaking paint; repairpopped nails; and patch up cracks and holes. If you’repainting over a glossy surface, light sanding will benecessary so that the paint can better adhere to the wall.Allow patched areas to dry completely before painting. Make sure walls are clean. They might not look dirty, butchalk, dust, hair, oil, and even cobwebs may be clingingto them, which can make it harder for paint to adhereand even show through the finished job. Use a sponge towash walls with a mixture of water and mild detergent,rinse with plain water, and let them dry completely. Mask the room. Tempting as it may be to skip it, maskingwill likely save you even more work later. Choose theright painter’s tape for the job – not all tapes can beused on or cleanly removed from every surface. Overlapsections by a couple of inches and make sure there are nobubbles or folds that could allow paint to seep in. Don’t skip the primer, particularly if you’re painting alighter shade over a darker one, if the walls are stained(use a primer designed for stain blocking), or if you’repainting walls that have been repaired (in fact, if youprime nothing else, spot prime areas you’ve patched orthey’ll appear as shiny spots when you’re done).A fresh coat of paint is the cheapest way to give your home a new look and improve its resale value – especiallyif you do the work yourself. To make the job easier, be happier with the results, and avoid accidents along theway, follow these tips.Painting Pointers
  3. 3. Emotional QuotientKnow the AREAVolume 9, Issue 5 3While it’s impossible to know everything aboutan area before moving in, there are some thingsyou can and definitely do want to learn aboutbefore you buy. Here are five important criteriato investigate. Amenities. Whether your preferences lean moretowards parks and playgrounds or clubs and culture,you’ll want to know whether your prospectivecommunity has the amenities you want, and, moreimportantly, those you need (e.g. public transit, health-care facilities). Tone. You may have visited prospective homes and/or areas on sunny Sunday afternoons, but be sure toreturn at various times of the day and week to see if/how the area’s tone changes. For example, how does itlook during rush hour or sound on Saturday nights? Schools. Even those who don’t have children andintend to remain childfree should be concerned aboutthe presence of quality schools. Why? Resale value:good schools mean persistent demand, and, as a result,faster sales at higher prices for properties near them. Crime rates. Obviously there’s no guarantee you’llnever be a victim of crime in any neighborhood youmove to, but you can find out, via resources likewebsites and local police departments, the amount –and nature – of crime in any area you’re consideringbuying in. Economic factors. Are property values falling, rising, orstable? Is the local job base growing or shrinking? Dolocal residences look like they’ve been well maintained?Are there many “For Sale” signs on homes? Have a lotof local businesses closed their doors for good?Where should your investigation begin? With a call toyour local real estate representative – there’s no one whoknows the area better! Overpricing. The number one reason why otherwisegood homes don’t sell (quickly or at all), overpricingis often the result of sellers factoring in sentimentalvalue in addition to fair market value whenestablishing their asking price, or an ego-driven desireto “beat” the neighbors, who sold their home lastmonth, by fetching more money for your home thanthey did. Rejecting advice. Some sellers take offense to andreject their real estate rep’s advice about makingcertain changes to their home’s décor, receiving it ascriticism of their personal taste. Rest assured, it’s inno way meant as such; rather, these suggestions areintended only to broaden your home’s appeal to morebuyers so that it sells faster and for more money. Rejecting offers. Just as some sellers take offense totheir rep’s suggestions, some take offense to offersthey feel are too low, and reject them outrightin response to the perceived insult. But rejectingoffers won’t get you any closer to your goal ofmaking a sale – but keeping negotiations open bycrafting a counter offer with your real estate salesrepresentative’s help will. Being at home during showings. Some sellers arereluctant to vacate their homes while showings aretaking place, which is perfectly understandable: it’sdifficult to surrender control and have strangersroam through your home in your absence. But yourpresence can hinder buyers and make them feelrushed and uncomfortable – just what you don’twant when trying to sell.When selling a home, clear minds and cool heartswould ideally always prevail, but it’s not uncommonfor emotions to get the better of home sellers.Below are four emotional mistakes sellers shouldavoid making.
  4. 4. A security alarm can tell you when someone has broken intoyour house, but your landscaping can help deter would-becriminals from entering your house in the first place. Here’show to achieve better security through landscaping. First, keep your yard well maintained (e.g. mow and rakeregularly, maintain edging, remove weeds and debris, keepgarden beds well defined and freshly mulched). An unkemptyard will signal to criminals that the house is unoccupied –even if it’s not – and thus assume itself an easy target. Make sure your trees, shrubs, and hedges are neatlytrimmed so that your doors and windows are clearly visibleto your neighbors, and criminals have fewer places to hideon your property. Trim any tree limbs that could be used togain access to upper-floor windows or your roof. Below ground-floor windows, consider spreading graveland/or planting hostile vegetation. The gravel makesfootsteps easier to hear, while thorny, prickly plantings(e.g. cacti, rose bushes) makes these areas less hospitable tocriminals. Your local nursery can suggest hostile plantingssuitable for your climate. Make sure your landscaping design includes lighting.Keep in mind that solar lighting doesn’t put out muchlight, so while they’re great for ambiance, for securitypurposes, you’d be better off using motion detectinglights to illuminate areas like your front door, garage, shed,and backyard. When you’re finished with your yard maintenance tasks, besure to put all of your tools and equipment securely away.You don’t want to lend criminals a helping hand by leavingout items – such as ladders, axes, drills, and hammers – thatthey could use to break into your house.Safety ScapingTerminology TipEquity — Equity is the dollar amount thata homeowner has paid towards the costof a property. It’s the difference betweenwhat the property is worth and what thehomeowner owes against that property (orthe difference between the property value andthe remaining loan amount on the property).Equity increases as the mortgage is paiddown or as the property appreciates in value.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.® 2013, 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