Toronto Real Estate Market Update for November 2014
Welcome back, everyone. We are here today to give you a quick market update for the Greater Toronto Area so you can be informed on the health and status of the real estate market.
In Toronto right now, homes are selling quickly. Inventory has been cut down quite a bit because people are taking their homes off the market at a higher rate. What we do have left is a strong seller's market due to the low inventory.
To differentiate yourself among buyers, here are two easy ways to add value to your home, without spending a ton of money:
1. Invest in some paint
2. Spice up your curb appeal
Paint the front door, clean your yard up, and make sure your garage looks nice. These are the first things buyers see when they arrive at your home.
If you are in a condo, paint and flooring are 90% of what buyers see. New paint and carpet might not be a bad idea here.
In terms of numbers, one thing we like to track is active listings on the market. Right now there are 7500 homes for sale across the GTA, compared to only 2500 in January of this year.
We are also finding that there are, on average, 2500 home sales per month. This tells us we have a healthy market and economy, where people are buying and selling on a regular basis.
If you have any questions at all, we would love to hear from you. Give us a call, text, or email and we will get right back to you. We look forward to hearing from you soon!
They sold my home very quickly and I was able to get more than my asking price! He was very quick to respond to my phone calls and emails so he was very responsive. He even lined me up with a stager which I think certainly helped with getting the house sold quickly. We did an open house the first weekend it was up for sale and he recommended that we should hold out and have the bidding on one day which I think helped me get more than the list price.
11 Reasons to List During the Holidays (Part 1)
The holidays are coming up, believe it or not, and it is, surprisingly, a great time to put your home on the market. We aren't just saying this, we have proof to back it up. In part 1 of our blog, we are going to discuss 6 reasons to list during the holidays. This is a great time in the real estate market, let us tell you why:
1. People who look for homes during the holidays are serious buyers
If a buyer is actively seeking out homes while the weather outside is dark, cold, and snowy, they are more than likely a serious buyer. We see this all the time, as casual buyers aren't going to go out of their way to see a home when the weather is bad.
2. Serious buyers have fewer options this time of year
Less competition for you on the market translates to more money in your pocket. Anytime there is low inventory, it raises the value of homes. The holiday season is a great time for sellers, as buyers don't have a lot to choose from. This results in increased value for your home.
3. There will be less demand for your home come January
Less demand for your home equals less money for you. Why wait until the beginning of the year, when your competition will quadruple in just weeks? Inventory is extremely low right now, and taking advantage of this fact will get you a much better price for your home.
4. Homes show better when decorated for the holidays
If you are already having people over for the holidays, you will clean up, make things look cozy, maybe even decorate the walls. Buyers love all of this, and makes your home look much better in their eyes.
5. Buyers are more emotional during the holidays
Because of this, they are more likely to pay your price. We want to take advantage of that warm, fuzzy feeling people get around the holidays and in terms of selling, more emotional buyers are great for you.
6. Buyers have more time to look for a home during the holidays
You probably know someone, if not many people, that are taking some time off work during the end of the year. These are all times for buyers to come look at homes if they are seriously considering purchasing.
If you have any questions, don't hesitate to give us a call or send us an email. We will be back soon, with part 2 of our blog and the remaining 5 reasons why the holidays are such a great time to list.
We had a pleasant experience. He was very friendly and nice to me and I don’t think he had too much difficulty. He did the job that he had to do and it was very easy to communicate with him.
The Rene Team sold my home and also helped me buy an investment property. With the investment property, Rene managed to find me something that was originally what I was looking for, but ended up being a better investment for me. Even now, almost 3 years later, the property had appreciated quite a bit. He ended up teaching me that it was a better opportunity and help make me more of a real estate investor.
They were excellent in trying to find us what we wanted when we were moving and in selling our home. They went through everything for the sale and did an excellent job of keeping us informed of what was going on. When we were looking for a new house, we wanted a certain area but nothing was for sale. Rene went around and started knocking on doors until they were able to find something for us so I couldn’t have asked for a better experience!
We had awesome results. He was very active and helped us out a lot. Everything was very quick and he helped me deal with the seller. We went to him with any questions we had and anytime, nighttime or after work, he would respond and help out right away.
Toronto Real Estate Market Update for Fall 2014
We are committed to keeping you up-to-date on all the latest real estate information in Toronto and today we have a market update with all those latest statistics.
Right now, we are in a very interesting market. Our fall market has just begun and a lot of inventory has recently come off the market, causing price averages to creep higher.
If you are a seller in the Toronto market, your goal is simple: You want to have your house show well. There are a ton of houses that go on the market, but the sellers haven't taken the time to prepare it for showing. This is one easy way to get a leg up on the competition.
For buyers, interest rates on loans continue to be extremely low. Right now, you can get a 6-month rate at 3.95%, a 10 year fixed rate at 4.3%, and a 5 year variable at only 2.4%. These numbers are really low, and locking in a mortgage at these rates could save you thousands over the life of the loan.
If you have any questions, or know somebody who is interested in buying or selling real estate here in Toronto, give us a call or send us an email. We want to be your #1 real estate resource!
