Sunday, December 22, 2013

Six real estate myths debunked

“There are so many real estate myths out there that people take as being the gospel,” says Ron Abraham, president of the Ontario Real Estate Association.

1. Houses that are professionally staged sell for more than non-staged homes.
“Staging a home can add dollars to a property’s sold price but it is more important for the property’s features and functions to show well,” says Ann Hannah, president of the Toronto Real Estate Board. “Allocating funds toward a new countertop, a fresh paint job or a good cleaning may in fact be money more wisely spent.”

2. Realtors don’t make any money in first six months.
“You cannot make a blanket statement that says that nobody will earn any money in the first six months in real estate,” says Abraham. “There are some people who don’t make any money in their entire career in real estate. Some people are very successful in their first two months and then do nothing. Other people are not successful for a year and then they blossom.
“When we instruct classes to prepare new people coming into the business, we say you should be prepared for no income for six months. The theory is if you get a listing in your first week and it sells within the next 90 days and it doesn’t close for another 90 days, there is your six months. But it is a myth that Realtors do not make anything in the first six months, generally speaking.”

3. Buying any real estate is a great investment.
“Buy any property as an investment is definitely a myth. Not only is it wrong; it can be financially ruinous,” says Don R. Campbell, a Canadian-based real estate investor and founding partner of the Real Estate Investment Network and Cutting Edge Research. “This myth is often perpetrated by those in the business of selling real estate and has been debunked over and over, only to be re-invigorated when it serves those who are trying to sell properties that make current poor investments,” he says. “One key determinant for any property purchase is: Is it speculation or is it an investment? A property that does not carry itself through the income it generates is speculative. That doesn’t make it wrong, but it does add a much higher level of risk. A property with income that not only covers all operations and financing costs but also provides an income is a true investment. With this additional income, you can afford to hang on if a market doesn’t perform on the equity appreciation side – without this income the emotional and financial roller-coaster is much more violent and in fact can throw you right off the tracks,” says Campbell.
He says a good question to decide if the property is worth adding to your portfolio is: “ ‘If I bought 10 of these and the market stayed flat, would I still be getting closer to my overall financial goal – or would it hurt badly?’ If it is getting you closer, then it is worth grabbing. If it isn’t, then it is a speculative purchase with high risk,” says Campbell.

4. Choosing to sell your home yourself instead of using a Realtor will save you money.
“Homeowners who choose to sell a property on their own should consider that for the most part, buyers prefer not to negotiate directly with sellers,” says Hannah. “Buyers might, for example, have reservations as to whether homeowners are representing the condition of the property in a forthright  manner. More importantly, those who use the services of a Realtor can do so with the confidence that they are entering into one of their life’s most significant transactions with a knowledgeable professional who is governed by rules, regulations and legislation. As with most things in life, you get what you pay for.”

5. Spring is the best time to purchase a new house.
“That will depend on the market,” says Abraham. “Is spring the best time to buy a home in a cottage market? No – the best time for a cottage market may be in October or November when there isn’t as much activity. A lot depends on the kind of market that that particular area is enjoying or not enjoying. Many people feel that spring is a good time because if you buy a home in spring and you don’t close the deal until the end of June, the kids are out of school. Or you close the deal between the end of June and before September so you move before the kids go back to school. You don’t want to start them in school in September and have to move them around December. For a family with young children, that might be an easier way to buy a home but it doesn’t make this myth a blanket statement,” he says.

6. Homes with pools are harder to sell.
“Homes with pools can narrow the interest of buyers, particularly when they have young children, says Hannah. “Buyers don’t always want the risk or the upkeep of a pool. Conversely, buyers who want a pool generally regard it as a bonus. If there is a pool, it is best if it is situated on a lot that is  big enough to accommodate both a pool and a backyard recreation space such as a patio for entertaining.”

Sometimes it pays off to not believe every myth you hear.

Monday, December 9, 2013

HIGHLIGHTS OF THE WEEK

 
 
The Bank of Canada kept the overnight rate constant at 1.00% this week, in a communiqué which was interpreted as more dovish than the last. Markets reacted swiftly and the Canadian dollar plunged to a three-year low.

•  Canada’s trade balance tipped into surplus in October, as imports fell further than exports. The trade surplus was a razor thin $75 million, up from a $303 million deficit in September.

•  Employment was solid in November, advancing by 22,000 positions, while the unemployment rate held firm at 6.9%. So far this year, employment growth has averaged 13,400 per month, down from 25,400 over the same period in 2012.


Sunday, December 8, 2013

New Brokerage...... business as usual

 
 

We are super happy to announce that we are joining a new brokerage - Intercity Realty Inc.!
Great people & amazing team!

Saturday, November 9, 2013

Bathurst/Eglinton - 1 Bdrm apt for rent


Bright. Super Clean, Spacious Corner Unit In Quiet Low Rise Condo Building Located In Upper Forest Hill! Refinished Oak Hardwood Floor, Large Master With Double Closet, Crown Moulding, Decorative Fire Place, California Shutters. Fully Furnished. Fantastic Location - Ttc At The Door And Minutes To Downtown, Steps To Parks, Forest Hill, Restaurants And Shopping

Saturday, June 29, 2013

Attention Investors - 2 Family Custom Built Home




Original Owner. Huge 5 Bdrm, 2 Family Custom Built Home In Demand Area. Large Eat-In Kitchen, Formal Dinning Room, Sun Filled Living Room, Hardwood Floors Throughout. Master Bdrm With Double Closet & 4Pc Semi-Ensuite. Separate Entrance To Finished Basement With 2 Bdrms, Full Bath, 2nd Kitchen & Living Rm With Fireplace. Direct Access To Garage. Large Backyard. True Pride Of Ownership. Perfect For Multi-Generational Living Or Outstanding Investment Opportunity.  Fantastic Location - Steps To Schools, Ttc, Subway, Park, Shopping & Hospital. Minutes To 401.

Saturday, June 8, 2013

New Listing - Even The Price Is Beautiful!

Perfect For Multi-Generational Living. Designed to Delight

1513 Greenvalley Tr in Oshawa

Open House Saturday and Sunday 2-4pm.



Gorgeous Is An Understatement... Impeccable And Meticulously Maintained, Bright & Spacious 4+2 Bdrm/4 Bath Family Home. Large Formal Dining & Living Rooms, Family Size Eat-In Kitchen With Breakfast Bar & Walk-Out To Fully Fenced Sunny Backyard. Family Room With Hardwood Flooring, Pillars & Gas Fireplace, Main Floor Laundry and Direct Access To Garage. Large Master With walk-in closet and Spa-Like Ensuite With Jacuzzi Tub And Separate Shower. Professionally Finished Basement with second kitchen, 2 bedrooms and 3pc bath. Pot lights.  Interlock Front Entrance. Finished Top To Bottom. True Pride Of Ownership - Move Right In! Fantastic Location - Steps To Schools, Shopping & Parks.


Monday, May 13, 2013

Amazing 2 Bdrm Condo In The Heart Of Woodbridge

 


Live The Good Life In This Beautifully Maintained Condo Building In The Heart Of Woodbridge. Absolutely Stunning, Completely Renovated 2 Bdrm With New Hardwood Floors Throughout, New High End Kitchen With Electrolux Appliances, New Kitchen Cabinets & Granite Countertops, New Washroom, Master With His & Hers Closets. Walk Out To Private Balcony. Ready To Move In. Perfect For First Time Buyers, Frequent Travellers And Business People. Recreation Facilities Incl. Party Room, Exercise Room And Roof Top Terrace. Fantastic Location - Minutes To Vaughan Mills And Canada's Wonderland, Easy Access To Hwys 400 & 407.  For more info please contact Anna at 905-409-5810 or Jerzy at 416-417-5221 or visit www.gr8toronto.com

Thursday, May 9, 2013

MONTHLY RESALE HOUSING FIGURES

Greater Toronto Area REALTORS® reported 9,811 sales through the TorontoMLS system in April 2013, representing a dip of two per cent in comparison to 10,021 transactions in April 2012. Both new listings during the month and active listings at the end of April were up on a year-over-year basis.

"Despite the headwinds we have experienced in the housing market this year, April sales came in quite strong in comparison to last year. As we move through the spring and into the second half of 2013, the demand for home ownership should continue to firm-up relative to last year," said Toronto Real Estate Board President Ann Hannah.

"It has been almost a year since the federal government enacted stricter mortgage lending guidelines. It is realistic to surmise that some households, who originally put their decision to purchase on hold, are once again looking to buy," continued Ms. Hannah.

The average selling price for April 2013 transactions was $526,335 – up by two per cent in comparison to April 2012. The MLS® HPI Composite Benchmark Price was up by 2.9 per cent.

"The condominium apartment segment in the City of Toronto was a key driver of price growth in April, with both the average selling price and the MLS HPI apartment index up on a year-over-year basis. The improved condo sales picture, with Toronto sales down by only one per cent compared to last year, suggests that interest in condo ownership may be improving," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Monday, February 11, 2013

MONTHLY RESALE HOUSING FIGURES

Greater Toronto Area REALTORS® reported 4,375 transactions through the TorontoMLS system in January 2013. This number represented a slight decline compared to 4,432 transactions reported in January 2012.

"The January sales figures represent a good start to 2013. While the number of transactions was down slightly compared to last year, the rate of decline was much less than what was experienced in the second half of 2012. This suggests that some buyers, who put their decision to purchase on hold last year due to stricter mortgage lending guidelines, are once again becoming active in the market," said Toronto Real Estate Board (TREB) President Ann Hannah.

"It is interesting to note that sales were up for many home types in the GTA regions surrounding the City of Toronto. This is due, at least in part, to the additional upfront land transfer tax in the City of Toronto," added Ms. Hannah.

The average selling price for January 2013 sales was $482,648 – up by 4.3 per cent compared to $462,655 in January 2012. The MLS® Home Price Index (HPI) Composite Benchmark price was up by 3.8 per cent over the same period.

"There will be enough competition between buyers in the marketplace to prompt continued growth in home prices in 2013. Expect annual average price growth in the three to five per cent range this year," said Jason Mercer, TREB’s Senior Manager of Market Analysis.

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