I could pretty much cut and paste my entry for July/August! Nothing has changed. In fact, the market is hotting up even more if that's possible. The condo market has seen a big rise in buyer interest and multiple offers and over asking prices abound. For houses, we expect it in a hot market, but not SO much for condos. This is a great time for sellers, a little tougher for buyers. While there is a lot of product on the market, the buyers still exceed the supply.
So...if you're thinking of selling, the time is nigh.
No one can predict how long this boom will continue, but as long as interest rates are low and Premier McGuinty still plans to implement the HST taxes in April, 2010 then there is probably no end to the busy market.
Sunday, October 25, 2009
Saturday, August 29, 2009
July/August 2009 Market Report
Well, who would've thought? July 2009 was a record setting month for sales in the GTA. In less than 1 year, the market has completely bounced back from one of the worst recessions it's seen to the best summer month in history.
This was due largely in part to the interest rates and rumours of a recovering economy. Overall though, this is a sign of consumer confidence, which rules all markets. For Sellers, you are currently in the hotseat as there is a huge demand for properties and limited homes on the market. Bidding wars abound and many homes are fetching $50-$100K over the asking price! Don't despair Buyers! Come fall (a few weeks from now) you will see more and more properties on the market in what is traditionally a peak period for homes being listed in the GTA.
Things will soon balance out and we we can again see happy Sellers and Buyers participating in a great Toronto Real Estate year.
This was due largely in part to the interest rates and rumours of a recovering economy. Overall though, this is a sign of consumer confidence, which rules all markets. For Sellers, you are currently in the hotseat as there is a huge demand for properties and limited homes on the market. Bidding wars abound and many homes are fetching $50-$100K over the asking price! Don't despair Buyers! Come fall (a few weeks from now) you will see more and more properties on the market in what is traditionally a peak period for homes being listed in the GTA.
Things will soon balance out and we we can again see happy Sellers and Buyers participating in a great Toronto Real Estate year.
Tuesday, July 14, 2009
Toronto Real Estate Market June/July
Some said we would not see another '2007' for a long while. They were wrong! June and July of this year has been astounding for real estate sales in the GTA. Both homes and condos have exceeded sales and prices since last year and part of 2007. Despite the government outlook on our economy (gloomy) nothing seems to be stopping buyers from buying - and some paying top dollar (over asking) and entering bidding wars once again. Some people are puzzled and say 'If our economic outlook is so bleak, why the real estate frenzy?'. It's a good question. The current interest rates have a lot to do with booming sales. Today you can get a mortgage for under 3% and a 5 year fixed for just over 4%. It's incredible. Even though we've seen low interest rates in the past few years, these are definitely the lowest. On top of this, some people feel that with their past investments losing up to 45% of their growth on paper, they want something to invest in that's 'tangible'; bricks and mortar, a piece of land, a home. Other aspects helping the bourgeoning market is that in the latter part of last year (when sales came to a standstill) buyers were scared. They were uncertain of where they stood in their workplace. Would they be let go? Was their company downsizing? Would they be retired? Now, those buyers know and are more secure in their job futures. So these are a few answers to the rise in sales. Mainly, buyer confidence is back. And ultimately when the public has confidence, the economy improves.
Hopefully you'll be next!
Hopefully you'll be next!
Friday, May 29, 2009
Real Estate Market - Hot or Not?
The month of May has seen a surge in real estate activity in the GTA. People are asking me on a daily basis 'What's happening? It doesn't FEEL like we are in a recession.' People are buying; homes and condos are selling fast and many of them over the asking price in a short period of time. Despite the gloomy economic forecast by every media outlet and newscast, there is a rational explanation.
For the first time in history, the interest rates for borrowing are at a record low.
Also, many people who feared the looming crisis back in October/November and into the new year may feel a sense of relief in terms of their job security now and when people feel a sense of security it manifests as confidence. Public confidence plays a huge role in any market, and right now it is showing in the real estate market.
So to answer my own question, yes, the market it HOT! How long it will stay that way is anyone's guess but as the old adage goes...strike while the iron is hot. This is especially true for Sellers right now.
For the first time in history, the interest rates for borrowing are at a record low.
Also, many people who feared the looming crisis back in October/November and into the new year may feel a sense of relief in terms of their job security now and when people feel a sense of security it manifests as confidence. Public confidence plays a huge role in any market, and right now it is showing in the real estate market.
So to answer my own question, yes, the market it HOT! How long it will stay that way is anyone's guess but as the old adage goes...strike while the iron is hot. This is especially true for Sellers right now.
Make Your Home 'Appeal' ing
Creating curb appeal!
They say you can’t judge a book by its cover. But when it comes to houses, the exterior can be just as important as the interior if selling or buying.
When selling, it is the outside, or the home’s curb appeal that often determines whether the inside is ever seen. How a house 'shows’ from the street can tell a potential buyer a lot about what it may be like inside. Even if the inside is the sparkling, charming, structurally sound dream home they’ve been searching for, a buyer is not going to forget a cracked driveway, fallen shutters, overgrown grass and flower beds.
That’s why most REALTORS recommend a house not be seen for the first time at night. If you have no choice but to view homes at night, always be sure to drive past them during the daytime before making any final decisions.
For sellers, there are many ways to enhance the exterior of a home to achieve the curb appeal necessary to attract prospective buyers. Start by taking a close, objective look at your home from the curb. Be sure to view it from different angles. Ask friends and neighbors for their unbiased opinions. What are the appealing features? What’s not so appealing? What can you do to improve its appearance?
Are the shrubs untrimmed? Are there broken doors and windows, loose screens and railings? Does the exterior trim, or entire surface, need a paint job?
The interior may be clean, without a leaky faucet, cracked floor or loose door hinge in sight. But if the exterior roof, gutter, walls, driveway, garage and yard look dirty and untidy, chances are you’re not going to get a lot of potential buyers knocking at the door.
Creating curb appeal is making your home inviting from the outside -- where first impressions begin. This doesn’t mean spending a great deal of money remodeling and renovating. Adding a new front verandah might add a lot of curb appeal, but so will a couple of wicker chairs and potted flowers by the front door - at a lot less cost.
Here are some more tips for making the outside of your home attractive and inviting:
Clean up the yard Mow the lawn, trim the hedges, weed the flower beds, get rid of dead trees and shrubs; get rid of any broken lawn furniture; shovel the walk and driveway in winter; rake the yard in the fall.
Repair any problems If the roof is damaged, repair it. Also repair any doors and windows that have loose hinges or other damage; fix storm doors and window screens; caulk window exteriors; clean and repair sidings and other structural flaws.
Eliminate clutter If you have yard and construction debris piled up along the side of the house, or elsewhere, get rid of it. The exterior of your home should be as uncluttered in appearance as the interior. This includes cleaning out the garage - a major breeder of clutter. Be ruthless. If you haven’t used something in a year, give it to charity or recycle it.
Give siding a fresh new look Cleaning the exterior surface is all your home may need for a fresh new face. Before rushing to paint siding, try washing it. For painted wood siding and aluminum siding, use a solution of one cup strong detergent and one quart chlorine bleach in three gallons of water. Be sure to wear rubber gloves, goggles and other protective garments. Work from the bottom up and rinse thoroughly.
To spruce up vinyl siding, hose it down, sponge it with a mild liquid detergent and rinse.
Use paint to brighten, re-proportion exterior A paint job can do wonders for the exterior of a home. A low house can look more graceful and tall from the curb by emphasizing its vertical features. Paint elements such as doors, shutters and corner trim in a color that contrasts with the siding material or color. On a high home, emphasize horizontal by using a contrasting paint color on window sills and fascia boards. You can also make a tall house look lower by painting it a dark color, provided that the roof is dark too. Conversely, a light color will make a home look larger.
Co-ordinate the exterior 'look’ The more co-ordinated your house looks from the outside, the more appealing it will be. Co-ordinate the 'look’ of your home by painting the garage, tool shed, playhouse and other outdoor structures with the same color schemes as the house. If your house is a mixture of conflicting textures - vertical siding, shingles and brick, for instance - try painting them all the same color, or in two related shades of the same color, to create a harmonious look. Dark tones work best when working with conflicting textures.
Use flower power Well-placed flowers, trees and shrubs can really make the outside of a home look inviting. Not only does attractive landscaping invite buyers, it can increase the value of a home. Even without major landscaping, flowers can make a yard look colorful and pleasant. Plant them in garden beds, hang them from railings and porch ceilings, add flower boxes to window sills. There is no limit to the power of flowers.
At night, highlight garden features with spotlights and floodlights. Well-lit paths and entrances promote safety, discourage burglars and are an added feature to any home. A pretty wreath on the door and a welcome mat will finish things off.
They say you can’t judge a book by its cover. But when it comes to houses, the exterior can be just as important as the interior if selling or buying.
When selling, it is the outside, or the home’s curb appeal that often determines whether the inside is ever seen. How a house 'shows’ from the street can tell a potential buyer a lot about what it may be like inside. Even if the inside is the sparkling, charming, structurally sound dream home they’ve been searching for, a buyer is not going to forget a cracked driveway, fallen shutters, overgrown grass and flower beds.
That’s why most REALTORS recommend a house not be seen for the first time at night. If you have no choice but to view homes at night, always be sure to drive past them during the daytime before making any final decisions.
For sellers, there are many ways to enhance the exterior of a home to achieve the curb appeal necessary to attract prospective buyers. Start by taking a close, objective look at your home from the curb. Be sure to view it from different angles. Ask friends and neighbors for their unbiased opinions. What are the appealing features? What’s not so appealing? What can you do to improve its appearance?
Are the shrubs untrimmed? Are there broken doors and windows, loose screens and railings? Does the exterior trim, or entire surface, need a paint job?
The interior may be clean, without a leaky faucet, cracked floor or loose door hinge in sight. But if the exterior roof, gutter, walls, driveway, garage and yard look dirty and untidy, chances are you’re not going to get a lot of potential buyers knocking at the door.
Creating curb appeal is making your home inviting from the outside -- where first impressions begin. This doesn’t mean spending a great deal of money remodeling and renovating. Adding a new front verandah might add a lot of curb appeal, but so will a couple of wicker chairs and potted flowers by the front door - at a lot less cost.
Here are some more tips for making the outside of your home attractive and inviting:
Clean up the yard Mow the lawn, trim the hedges, weed the flower beds, get rid of dead trees and shrubs; get rid of any broken lawn furniture; shovel the walk and driveway in winter; rake the yard in the fall.
Repair any problems If the roof is damaged, repair it. Also repair any doors and windows that have loose hinges or other damage; fix storm doors and window screens; caulk window exteriors; clean and repair sidings and other structural flaws.
Eliminate clutter If you have yard and construction debris piled up along the side of the house, or elsewhere, get rid of it. The exterior of your home should be as uncluttered in appearance as the interior. This includes cleaning out the garage - a major breeder of clutter. Be ruthless. If you haven’t used something in a year, give it to charity or recycle it.
Give siding a fresh new look Cleaning the exterior surface is all your home may need for a fresh new face. Before rushing to paint siding, try washing it. For painted wood siding and aluminum siding, use a solution of one cup strong detergent and one quart chlorine bleach in three gallons of water. Be sure to wear rubber gloves, goggles and other protective garments. Work from the bottom up and rinse thoroughly.
To spruce up vinyl siding, hose it down, sponge it with a mild liquid detergent and rinse.
Use paint to brighten, re-proportion exterior A paint job can do wonders for the exterior of a home. A low house can look more graceful and tall from the curb by emphasizing its vertical features. Paint elements such as doors, shutters and corner trim in a color that contrasts with the siding material or color. On a high home, emphasize horizontal by using a contrasting paint color on window sills and fascia boards. You can also make a tall house look lower by painting it a dark color, provided that the roof is dark too. Conversely, a light color will make a home look larger.
Co-ordinate the exterior 'look’ The more co-ordinated your house looks from the outside, the more appealing it will be. Co-ordinate the 'look’ of your home by painting the garage, tool shed, playhouse and other outdoor structures with the same color schemes as the house. If your house is a mixture of conflicting textures - vertical siding, shingles and brick, for instance - try painting them all the same color, or in two related shades of the same color, to create a harmonious look. Dark tones work best when working with conflicting textures.
Use flower power Well-placed flowers, trees and shrubs can really make the outside of a home look inviting. Not only does attractive landscaping invite buyers, it can increase the value of a home. Even without major landscaping, flowers can make a yard look colorful and pleasant. Plant them in garden beds, hang them from railings and porch ceilings, add flower boxes to window sills. There is no limit to the power of flowers.
At night, highlight garden features with spotlights and floodlights. Well-lit paths and entrances promote safety, discourage burglars and are an added feature to any home. A pretty wreath on the door and a welcome mat will finish things off.
Thinking of hosting a Yard Sale? Some tips...
If your annual spring cleaning ritual has produced a mountain of unused and unwanted items, you may want to think twice before you simply toss them out. How about a yard sale to turn some of that “junk” into someone else’s “treasure?”
Each weekend in spring and summer you’ll find yard sales popping up in neighbourhoods everywhere. And, where there are yard sales, there are yard sale “junkies.” For many people, scouring yard sales for a bargain on a Saturday morning is an art.
First, settle on a date and time for your sale. Weekends are virtually universal for yard sales, and most run from 8 or 9 a.m. until 4 or 5 p.m. You'll also need to set a rain date, usually the next day if your sale is on a Saturday, or the following weekend if your date is Sunday. Most sellers advertise by posting signs on lamp posts and hydro poles.
Running out of change is also a problem that plagues many sales.
Think like a yard sale buyer
The ability to deliver the kind of goods and service that buyers want is perhaps the most important factor in the success of your sale.
There are a number of items that are always in high demand: art, antiques (even distressed pieces), furniture, appliances, electronic equipment, tools, and lately, computer games and accessories. If you have goods in any of these categories, mention them in your flyer or ad.
Surprisingly, many veteran yard salers are not interested in old clothing. Unless you've got something special to offer, you can expect to turn much of your old wardrobe over to charity.
As to pricing your goods, nothing turns away a potential buyer more than a price that is too high. You can always expect haggling, but most won't even bother if you price an old lamp at $20, when similar items can be had for $5.
Don't clutter up your yard, and make sure your items are separated by category.
A friendly face and a free cup of java can do wonders.
Finally, the success of a yard sale is measured by the amount of additional space you have in your house after the yard sale is over, and the amount of money you make. Now you may be tempted to run out and purchase more items that will likely end up in your next yard sale. But, why not celebrate your success by spending the money on dinner at a nice restaurant for the family and whoever helped at the sale. Source: OREA
Each weekend in spring and summer you’ll find yard sales popping up in neighbourhoods everywhere. And, where there are yard sales, there are yard sale “junkies.” For many people, scouring yard sales for a bargain on a Saturday morning is an art.
First, settle on a date and time for your sale. Weekends are virtually universal for yard sales, and most run from 8 or 9 a.m. until 4 or 5 p.m. You'll also need to set a rain date, usually the next day if your sale is on a Saturday, or the following weekend if your date is Sunday. Most sellers advertise by posting signs on lamp posts and hydro poles.
Running out of change is also a problem that plagues many sales.
Think like a yard sale buyer
The ability to deliver the kind of goods and service that buyers want is perhaps the most important factor in the success of your sale.
There are a number of items that are always in high demand: art, antiques (even distressed pieces), furniture, appliances, electronic equipment, tools, and lately, computer games and accessories. If you have goods in any of these categories, mention them in your flyer or ad.
Surprisingly, many veteran yard salers are not interested in old clothing. Unless you've got something special to offer, you can expect to turn much of your old wardrobe over to charity.
As to pricing your goods, nothing turns away a potential buyer more than a price that is too high. You can always expect haggling, but most won't even bother if you price an old lamp at $20, when similar items can be had for $5.
Don't clutter up your yard, and make sure your items are separated by category.
A friendly face and a free cup of java can do wonders.
Finally, the success of a yard sale is measured by the amount of additional space you have in your house after the yard sale is over, and the amount of money you make. Now you may be tempted to run out and purchase more items that will likely end up in your next yard sale. But, why not celebrate your success by spending the money on dinner at a nice restaurant for the family and whoever helped at the sale. Source: OREA
Top Reasons to Move to Leslieville
Leslieville, once a little known east end suburb of Toronto, is now one of the most sought after stretches of east Toronto to live in. In the past 8 or so years, Leslieville has seen dramatic changes in its retail business, the type of homeowners and residents its attracting and its popularity.
Why? Not only is the area close to Toronto Beaches (Ashbridges Bay, Kew Beach, Woodbine Park) it is very close to the downtown core and all the major highways to/from the City - the Gardiner Expwy, The DVP and the Lakeshore. Every week a new and exciting shop seems to open up on this ecectic strip of Queen St. East between Pape and Greenwood Avenues.
In just a few years, stores like Lowe's Farms Organic Foods, the Leslieville Cheese Shoppe, Nathalie Roze & Co. (clothing), The Curzon (bar), The Roy(pub), The Purple Purl (wool shop), Any Direct Flight (clothing), The Red Rocket (coffee bar), & The Film Buff (movie rentals) have sprung up - just to name a few. Not to mention numerous small and successful restaurants, butchers, vintage shops and baby supply stores. There's even a website devoted to residents of the 'hood called The Leslieviller.
The community's recent protest against a Walmart in the area shows the people of Toronto and this small community that local goods and independent shopkeepers are making a comeback.
The only 'corporatization' of Leslieville is one Starbucks at the corner of Logan/Queen St. Despite that, it hasn't seemed to take any business from the smaller, successful coffee parlours in the neighbourhood like The Mercury Bar or Tango Palace. There is something for everyone is Leslieville.
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