October 2014

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What home buyers love to see

Buyers are more likely to make an offer on your home if they see a lot of things they love about it. So what do buyers love to see?
One of the main things they like to see is a lot of space. Of course, you can’t change the size of your rooms, but there is a lot you can do to make small spaces in your home seem more spacious.
Buyers also love to see a clean and uncluttered home. Think of how inviting a hotel room looks at first glance, with everything neat and organized. Of course, your home isn’t a hotel, but the more neat and attractive you can make each room, the better.
One thing buyers don’t love to see is potential maintenance issues. So as much as possible, get things fixed or updated.
In fact, the more “finished” and “move in ready” your home looks, the more likely a buyer is to make an offer.
Don’t forget the surrounding neighbourhood either. A buyer may not take the time to explore the area, so be sure to make a list of the most appealing features. You might want to take a picture of the brand new playground just down the street or print off a local map showing nearby shopping, theatre and other points of interest.
It’s not about creating a false impression. Rather, it’s about making your home look its best and drawing attention to its most enticing features.

Want more home selling tips? Call today

Sales Representative
Take The Road To Home
Century 21 Leading Edge Realty Inc., Brokerage
Tel: 416-289-6000 Dir: 647-282-0790 Fax: 905-471-0832
http://www.jasonvaz.com

Market Watch July 2014

Market Analysis discusses July 2014 Market Watch Report

10% Increase of listings/ Transactions in July 2014 compared to July 2013. as well as a year over year growth adding more listings to the market but also increasing sales. 7.5% Price Increase in comparison to the following year.

Income to Debt rations are at 35% so we are still under the 39% Fed Mandated Ceiling

Free Hold
Total GTA Sales: 9,198
Total 416 Sales: 3315
Total 905 Sales: 5883
Condo
Total GTA Condo Sales: 2,132
Total 416 Condo Sales: 1,527
Total 905 Condo Sales: 605

Average Selling Prices in the GTA and Surrounding Areas
GTA Condos: $357,345
416 Condos: $379,000
905 Condo: $302,685

Toronto House Prices Soar Into The Stratosphere

Toronto home sales caught fire in the first half of May, but at this frenzied pace, homeowners better hope that fire doesn’t burn everything down.

The latest numbers from TREB suggest a market so strong that it might just be overheating: Sales volumes jumped 19.6 per cent compared to the first half of May in 2013, and prices followed.

The average cost to buy a house in Toronto, including condos, soared to $663,787, up 11.5 per cent in the space of a year. In the Greater Toronto Area, prices were up 8.9 per cent, to $542,047 on average.

Condo prices in Toronto were up 12.2 per cent, to just under $400,000 on average, while single-family homes jumped 13 per cent to $966,867. (By Teranet’s measure, single-family houses have already surpassed the 1 Million Dollar Mar)

WRITING CREDITS: http://www.huffingtonpost.ca/2014/05/20/toronto-house-prices-soar_n_5359659.html?utm_hp_ref=canada-business

So is this a sign of a strong, healthy market or a sign of extreme overheating?

Compare those house prices to inflation, which was running at a 1.5-per-cent clip last time StatsCan checked, and to wage growth, which is clocking in at about 2.3 per cent per year. Toronto’s house prices are far out of proportion, and affordability is inevitably deteriorating.

Toronto’s real estate board isn’t sounding the alarm just yet.

“While tight market conditions continue to prompt strong year-over-year increases in the average selling price, it is important to point out that the monthly cost of home ownership – mortgage principal and interest, property taxes and utilities – has not trended upward as strongly. Strong price growth has been mitigated to a large degree by low borrowing costs,” the board’s senior market analyst, Jason Mercer, said in a statement.

Incredibly, those low borrowing costs may yet sink lower, if other lenders follows the example of Investors Group, which recently introduced a variable-rate mortgage starting at just two per cent.

All the same, the sudden acceleration in house price growth should concern housing bubble-watchers. As BMO economist recently showed in a chart, bubbles tend to be preceded by a sharp increase in prices. Here, we see sharp price growth before the housing bubble burst in Toronto in the early 1990s. The more recent run-up in prices has not been as steep — until now.

bmo toronto home prices

Despite the strong numbers coming out of Toronto and some other markets like Calgary and Vancouver, some economists have already declared an end to Canada’s long-running housing boom. A recent report from Scotiabank predicts the housing market is about to shift from being a major driver of economic growth to being a drag on GDP.

Victoria Day

File:Victoria édifice fédéral canada.jpg

Victoria Day is a federal Canadian public holiday celebrated on the last Monday before May 25, in honor of Queen Victoria’s birthday. The date is also, simultaneously, that on which the current reigning Canadian sovereign’s official birthday is recognized. It is sometimes informally considered as marking the beginning of the summer season in Canada.

The holiday has been observed since before Canada was formed, originally falling on the sovereign’s actual birthday, and continues to be celebrated in various fashions across the country on the fixed date; the holiday has always been a distinctly Canadian observance. It is a statutory holiday federally, as well as in six of Canada’s ten provinces and all three of its territories. In Quebec, the same day was, since the Quiet Revolution, unofficially known as Fête de Dollard until 2003, when provincial legislation officially named the same date as Victoria Day the National Patriots’ Day