When you're having a garage sale, one of the toughest tasks is pricing your items. If you put a price tag on your old golf clubs that’s too high, no one will buy them. If you make the price too low, they might sell quickly, but you’ll spend the rest of the day wondering if you could have gotten more!
It's similar to selling your home — except with your home, the stakes are much higher.
You want to price your property to sell, but you don’t want to leave any money on the table.
How do you accomplish that?
Setting the right list price for your home requires a combination of skilled calculation and industry savvy.
Let's start with the "calculation" part...
When you work with me, I'll review recently sold properties that are similar to yours in type, size, features and location. Then, using that data, we’ll calculate a range that represents your property's "current market value."
For example, consider a spacious 15-year-old bungalow in a nice neighbourhood. If similar homes in the area have sold for $475,000- $550,000 in the last six months, then it's obvious that your home should sell in that range too. A list price above or below that range would be in the danger zone.
But skilled calculation is only half the task.
Setting your list price also requires expertise in the local market, combined with good old-fashioned gut instinct. That instinct comes from being on the front lines of many property transactions.
That's why working with a good real estate salesperson is so important, when you’re deciding on the list price for your home.
If you are looking for a large condo for your family and great security, then your search is over. Here is the Immaculate Corner unit in one of the prestigious Crown building in Brampton. 100 County Crt Blvd. You will fall in love with this condo. Click the link below to have a sneak preview.
Once a Year, Consider Your Property’s Potential Assuming that at each renewal, a homeowner’s mortgage would be less than it was in the previous term, homeowners can look forward to eventually improving their monthly cash flow. In addition to a smaller mortgage, some may also enjoy the benefit of additional home equity if the property’s market value has increased since it was first purchased. If these factors are working in your favour, it could be a good time to think about your options.
For example, you could consider increasing your monthly payments and shortening the amortization period for your remaining mortgage. Alternatively, you might consider upsizing to a more accommodating home, or downsizing and benefitting from more affordable monthly costs (e.g. mortgage, condo fees, etc.) and fewer responsibilities. If you’re looking for financial opportunities, another option might be to examine the income-earning potential of a second property that could provide you with a stable monthly return on your investment. If now is the time to consider how you may capitalize on your property’s potential, let’s meet to discuss the best options for you. We can start with a candid evaluation of today’s market and your property, and then consider the factors that might affect values in the short and long term.
Should You Buy the Latest Home Automation Gadgets?
You’re at work when the thought hits you, “Did I lock the door when I left this morning?” You check your smartphone, see that you didn’t, and click the “LOCK” button. Now your house is secure.
That’s home automation for you!
But, is home automation a good idea? That depends on a number of factors.
On the pro side, home automation can improve your quality of life. There are automation products that will adjust heating/cooling depending on whether or not you’re home, make your morning coffee when you get out of bed, and the list goes on and on. These conveniences save you time.
Home automation can also give you peace-of-mind. It’s comforting to be able to remotely see the inside of your home and check that everything’s okay.
Home automation can also make your property more appealing to buyers. Traditionally, buyers like homes with security systems, and will appreciate other automation gizmos, too.
The only downside is the cost. Like most new technology, home automation products can be pricey and may become out-of-date within just a few years.
Thinking about it? Experts advise you to do your research first. Check out product reviews online. Then, if you determine that a particular product is going to benefit you, go for it!
According to a recent study, the average homeowner pays more attention to kitchen stove safety than they do BBQ safety. But, the fact is, a BBQ mishap can be just as devastating. So, it pays to know the latest safety tips.
• Keep BBQs at least 8 feet away from your house.
• Check for venture tube blockages regularly. (Spiders are notorious for spinning webs in there.)
• Clean the grill frequently to prevent flare ups. A grease fire on the grill can continue burning even after you’ve turned the BBQ off.
• Don’t position your BBQ close to foliage, such as under a tree or next to shrubs.
• Never BBQ in an enclosed area, such as a garage, even if the space is well ventilated.
• Avoid leaving the grill unattended, especially when cooking greasy foods such as sausages, beef burgers or steaks.
• Do not let children BBQ.
Finally, make sure your BBQ is turned completely off after use. It’s a good idea to double-check this when making the rounds and locking up your home for the night.
Experts say you should treat a BBQ as you would a camp fire — with care.
You might naturally assume that it is most important to talk to a Realtor when you’re selling or buying a home. But there are many other circumstances in which it makes sense to give me a call. Here are a few examples.
1. When you’re at the “thinking about it” stage
If you’re just thinking about selling your home, and haven’t made a firm decision yet, you might feel uncomfortable calling a Realtor. Don’t be. In fact, I welcome your call. We can discuss what your current property will likely sell for on today’s market, and determine the type of home you qualify to buy. That way, you’ll have some clarity and be able to make a more informed decision.
2. If you’re nervous about the selling process
If you haven’t sold a home before, you might be concerned about what’s involved in the process. You might even worry that putting your home on the market is going to be a lot of work and create a lot of turbulence for you and your family. Fortunately, selling your home doesn’t need to be scary. In fact, a big part of my job as a Realtor is to make the process as smooth and trouble-free as possible. So if you have concerns about selling your home, you should give me a call.
3. If you have questions
You likely have questions about the local real estate scene from time to time. You might have questions like: “How much did that home around the corner sell for?”; “Is now a good time to make a move, or should I wait until the market changes?”; and, “How much is my current home worth?”
When you have questions like those, you don’t need to dig for answers on your own. You can give me a call. As an expert in the local market, I can give you the answers you need.
TORONTO, June 5, 2017 – Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 10,196 sales through TREB’s MLS® System in May 2017 – down by 20.3 per cent compared to 12,790 sales reported in May 2016. Sales of detached homes were down by 26.3 per cent. Sales of condominium apartments were down by 6.4 per cent. The supply of listings was up strongly over the same period. Active listings – the number of properties available for sale – at the end of May were up by 42.9 per cent compared to the record low a year earlier. The number increased considerably for low-rise home types including detached and semi-detached houses and townhouses. Active listings for condominium apartments were down compared to May 2016. “Home buyers definitely benefitted from a better supplied market in May, both in comparison to the same time last year and to the first four months of 2017. However, even with the robust increase in active listings, inventory levels remain low. At the end of May, we had less than two months of inventory. This is why we continued to see very strong annual rates of price growth, albeit lower than the peak growth rates earlier this year,” said Mr. Cerqua. Selling prices continued to increase strongly in May compared to the same month in 2016. The MLS® HPI Composite Benchmark price was up by 29 per cent year-over-year. The average selling price for all home types combined for the TREB Market Area as a whole was up by 14.9 per cent to $863,910. Year-over-year price increases were greater for condominium apartments compared to low-rise home types. This likely reflects the fact that the low-rise market segments benefitted most from the increase in listings. “The actual, or normalized, effect of the Ontario Fair Housing Plan remains to be seen. In the past, some housing policy changes have initially led to an overreaction on the part of homeowners and buyers, which later balanced out. On the listings front, the increase in active listings suggests that homeowners, after a protracted delay, are starting to react to the strong price growth we’ve experienced over the past year by listing their home for sale to take advantage of these equity gains,” said Jason Mercer, TREB’s Director of Market Analysis.
Need more information on your particular street or neighbourhood, please text me, email me or call me and I will provide complete information for you.
You don’t have to freeze in the winter or start reading by candlelight to reduce your electricity bill. There are many simple ways to use less power with little, if any, impact on your lifestyle.
A good place to start is with your electronics.
According to the David Suzuki Foundation, “Any gizmo that has a clock, digital timer, remote control or standby mode is sucking energy when it's not being used (it's called 'phantom electricity' — and it's scary how much of it there is).” So keep them unplugged as much as possible. Also, unplug charger cords for phone and computers when not in use. Even when not connected to the device, they still suck power.
Another easy change to make involves your lights. Switching to compact fluorescent (CFL) or LED light bulbs can save you a lot of energy. They’re 75% more efficient.
Finally, the old-fashioned method of insulating doors and windows can work wonders for lowering your electricity bill. In fact, some particularly drafty homes can lose up to 40% of their heat. Check for drafts regularly and repair or replace insulation as needed.
None of these ideas will impact your day-to-day living. Yet, they could potentially save you a bundle.
Imagine finding a home you love, making an offer, and then finding out there are other competing offers on the table. Ouch.
If you’re looking for a property in a competitive market, it is likely that there will be multiple offers. Even just one can create the risk that you’ll lose the home. So how do you make sure your offer is enticing enough to win over the seller? Here are some ideas:
• Don’t make a low-ball offer. If you do, it might be dismissed and you probably won’t get another chance to bid — especially if the other competing offers are near the listing price.
• Have a pre-arranged mortgage and include that with your offer. This reassures the seller there won’t be any money issues. (Most lenders will provide you with a pre-arranged mortgage certificate for this purpose.)
• Go in with a price high enough that the seller will be interested, but not so high as to be leaving money on the table. This is tricky and requires a savvy knowledge of the current market.
• Have a REALTOR® present the offer on your behalf. A REALTOR® will know how to do so professionally, and in a manner that gives you the best chance of getting the home.
In a competitive situation, working with a REALTOR® who is an expert on the local market — and a skilled negotiator — is crucial.