TORONTO, February 18, 2010 -- Greater Toronto REALTORS reported 3,555 sales through
the Multiple Listing Service during the first two weeks of February.
This represented a 74 per cent increase compared to the 2,044 sales recorded during the same period in 2009 when resale transactions had dipped due to the recession. The February mid-month sales total was also 7.7 per cent above the previous high set in 2006.
"Home ownership demand remains strong in the GTA, as households remain confident
that economic recovery is at hand and that ownership housing will continue to be a
quality long-term investment," said Toronto Real Estate Board President Tom Lebour.
The average price for February mid-month transactions was $429,997 - an 18 per cent
increase over 2009. New Listings within the Toronto Real Estate Board boundaries were up 15 per cent to 6,212.
"Double-digit price increases will persist through the first quarter of the year," said Jason Mercer, TREB's Senior Manager of Market Analysis. "However, as new listings continueto increase creating a better supplied market, we will see the annual rate of price growth moderate into the single digits."
Source: Toronto Real Estate Board
Friday, February 26, 2010
Tuesday, February 16, 2010
Making Offers in a Hot Market
These past few weeks have been extremely busy and in a hot market as we have been seeing, many houses are now again going to multiple offers. I have had clients who have lost out on homes due to not listening to professional advice and being afraid of “overpaying”
In market hotspots such as Old Meadowvale Village, Levi Creek, Churchill Meadows & Sheridan Homelands offers must be approached very carefully to ensure that you win in a multiple offer situation.
These include;
1. Come prepared with your best price but do your research carefully. Look at other properties in the area that have sold and their upgrades – compare with the property you are bidding on and know the true value of your potential home.
2. List Price doesn’t equal purchase price. Many homes in hotspots are priced fairly or even below market value to obtain multiple offers. Don’t bid lower than asking just to feel like you are getting a good deal.
3. Consider adding things to your offer to make it more appealing to sellers. Match your closing date as closely as possible to what the sellers need or include a generous deposit cheque to make your offer more attractive to sellers. Where offers are very similar, including these important elements may help you win the deal.
4. Listen to your Realtor®. They know the true value of the home and will work as hard as possible to get you the deal.
5. Ensure you are comfortable with your offer but do not miss out on a great home in order to save a few dollars.
Following these simple steps will ensure you win in a multiple offer situation and get into your dream house quickly.
For more information or to contact me with any questions please visit www.marianogigante.com or email me today at marianog@sutton.com
In market hotspots such as Old Meadowvale Village, Levi Creek, Churchill Meadows & Sheridan Homelands offers must be approached very carefully to ensure that you win in a multiple offer situation.
These include;
1. Come prepared with your best price but do your research carefully. Look at other properties in the area that have sold and their upgrades – compare with the property you are bidding on and know the true value of your potential home.
2. List Price doesn’t equal purchase price. Many homes in hotspots are priced fairly or even below market value to obtain multiple offers. Don’t bid lower than asking just to feel like you are getting a good deal.
3. Consider adding things to your offer to make it more appealing to sellers. Match your closing date as closely as possible to what the sellers need or include a generous deposit cheque to make your offer more attractive to sellers. Where offers are very similar, including these important elements may help you win the deal.
4. Listen to your Realtor®. They know the true value of the home and will work as hard as possible to get you the deal.
5. Ensure you are comfortable with your offer but do not miss out on a great home in order to save a few dollars.
Following these simple steps will ensure you win in a multiple offer situation and get into your dream house quickly.
For more information or to contact me with any questions please visit www.marianogigante.com or email me today at marianog@sutton.com
Tuesday, February 2, 2010
Selling Your Home in the Winter
In the past, the best time to sell a home has been in the Spring and Summer.
Buyers with children are more likely to be in the market and plan their moves for when their children are out of school and have time to make friends in time for the new school year.
In a market with some of the lowest interest rates seen, if you want or need to sell your home during the colder months of Fall and Winter, there are ways to take advantage of the time of year. There are many buyers actively seeking homes in Mississauga, Milton, & Oakville.
When selling a home in colder months, think about how it feels to enter a home when it is cold outside and it has a warm and cozy feel. This is how you want buyers to feel when they come into your home.
Some things to consider doing are;
Leave lights on. Lamps often give off a better, homier feel than harsh overhead lights.
Smell can evoke extremely powerful emotions in buyers. Baked goods are a favourite of anyone in the cold winter months. Keep cookie or cake dough ready and throw in a few cookies before a showing or open house. This will immediately make your home show better.
Candles can also be a choice during a supervised open house or showing in a safe place. This can be a good choice, particularly in the dining room.
It is possible to sell your home in the winter, but it certainly depends on the effort you put into it and market conditions at the time.
If selling in the winter, it is important to speak to a licensed Realtor who specializes in your area. Ideally, find a local Realtor who lives in your area. It is in their best interest not only professionally but also personally to get you top dollar for your home.
Many homeowners who try to sell their home privately in the winter will see their home languish on the market without the benefit of warmer weather street traffic.
Selling in the winter requires a careful prcing and marketing strategy. Call me today at 416-256-7000 or visit www.marianogigante.com to schedule a free consultation and get your home sold for top dollar.
Buyers with children are more likely to be in the market and plan their moves for when their children are out of school and have time to make friends in time for the new school year.
In a market with some of the lowest interest rates seen, if you want or need to sell your home during the colder months of Fall and Winter, there are ways to take advantage of the time of year. There are many buyers actively seeking homes in Mississauga, Milton, & Oakville.
When selling a home in colder months, think about how it feels to enter a home when it is cold outside and it has a warm and cozy feel. This is how you want buyers to feel when they come into your home.
Some things to consider doing are;
Leave lights on. Lamps often give off a better, homier feel than harsh overhead lights.
Smell can evoke extremely powerful emotions in buyers. Baked goods are a favourite of anyone in the cold winter months. Keep cookie or cake dough ready and throw in a few cookies before a showing or open house. This will immediately make your home show better.
Candles can also be a choice during a supervised open house or showing in a safe place. This can be a good choice, particularly in the dining room.
It is possible to sell your home in the winter, but it certainly depends on the effort you put into it and market conditions at the time.
If selling in the winter, it is important to speak to a licensed Realtor who specializes in your area. Ideally, find a local Realtor who lives in your area. It is in their best interest not only professionally but also personally to get you top dollar for your home.
Many homeowners who try to sell their home privately in the winter will see their home languish on the market without the benefit of warmer weather street traffic.
Selling in the winter requires a careful prcing and marketing strategy. Call me today at 416-256-7000 or visit www.marianogigante.com to schedule a free consultation and get your home sold for top dollar.
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