Greater Toronto REALTORS® reported 4,718 transactions through the TorontoMLS® system in December 2011. The December result capped off the second-best year on record under the current Toronto Real Estate Board (TREB) boundaries. Total sales for 2011 amounted to 89,347 – up four per cent in comparison to 2010.
“Low borrowing costs kept Buyers confident in their ability to comfortably cover their mortgage payments along with other major housing costs,” said TREB President Richard Silver. “If Buyers had not been constrained by a shortage of listings over the past 12 months, we would have been flirting with a new sales record in the Greater Toronto Area,” added Silver.
The average selling price in December was $451,436 – up four per cent compared to December 2010. For all of 2011, the average selling price was $465,412, an increase of eight per cent in comparison to the average of $431,276 in 2010.
“Months of inventory remained below the pre-recession norm in 2011. Very tight market conditions meant substantial competition between Buyers and strong upward pressure on selling prices,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
“TREB’s baseline forecast for 2012 is for an average price of $485,000, representing a more moderate four per cent annual rate of price growth. This baseline view is subject to a heightened degree of risk given the uncertain global economic outlook,” continued Mercer.
This one is sure not to last !!! 3 Bdrm. Detached Family Home backing onto a Park in a sought after Courtice neighbourhood. Finished Basement w fireplace, great kitchen with lots of cupboard space, single car garage but double car driveway !! Too many feature to list ! For more information call Michelle Makos today at 905-831-3300 or check out the virtual tour !
I hope your summer has been going well !!! Fantastic weather we have been having, thats for sure !!! Big changes for me this summer !! Added another website to my many sites - this one being http://www.durham-homes4sale.com/ so feel free to check it out.
But the biggest news of the day is my recent brokerage change to RE/MAX First Realty Ltd. in Pickering. Having worked at Sutton and Royal LePage, I decided to go with the big guys !! And after my first day on the job, I honestly can see why they are "Above the Crowd!!!! " What a stellar bunch of people and it truly was pleasure settling in there.
Also I have recently hooked up with Real Estate TV so you can have your home shown on the Real Estate Channel with Rogers TV. Exposure, exposure, exposure !!!
And to add to that, I am now posting all virtual tours on You Tube so you have it all !!!
Market is good, rates are low and houses ARE SELLING !!! Call me if you have any real estate questions or needs that I can assist you with and remember, "Let Makos Move You !!"
Have a great August and stay tuned for lots of new real estate information coming this way.
Recently I have been in contact with many sellers who are planning on going it alone ... I don't begrudge anyone who is trying to save money but at the end of the day, do you really want to take that chance with your most valuable possession.
Selling your own home can be a very emotional and tedious job. If you work, how are you going to arrange for showings? How do you know the potential buyer is even qualified? How do you know anything about this random person you are bringing into your home? Bottom line is .... you don't.
Realtors pre-qualify everyone they show homes to. We market your home and know the language needed. If you are looking for a professional to sell your home and take away the stress and hassle, call a professional, full time Realtor.
You have nothing to lose. In my mind, it is the Realtor who is taking the risk??? We are the ones who are taking your listing and investing our own personal money into it and if it doesn't sell or you decide to take it off the market, we get paid absolutely nothing ... would you go to work everyday and have no idea whether or not you will receive a pay cheque????
Yes, sometimes a house sells quickly.... but there are many times when they don't or the market shifts and your Realtor is left holding the expenses.
There was a recent article in the Toronto Star from a FSBO - (For Sale By Owner) and she herself said, she would never do it again. Yes there are success stories out there but they are far more few than the horror stories. It is just no one writes about those !!
So all I am asking is - before you decide to list your property, call a local Realtor and meet with them and let them explain the "VALUE" they can bring to you. At the end of the day, they will probably net you more money, quicker and with less hassle than you could ever imagine.
I remember being told, there are always going to be people who buy "Timex" and there are always going to be people who want "Rolex"..... :)
Most people are familiar with hiring a real estate agent to sell a home, but fewer are aware that as buyers, they are also able to hire an agent to work diligently, protect their interests and find the best possible property for the best possible price. Many people assume that the best person to call when interested in a property is the listing agent, when this is not the case!
Buyers often approach the task of finding a new home by calling the number on “For Sale” signs, searching real estate magazines & newspaper ads and using web sites such as Realtor.ca. What they may not realize is that by contacting the listing agent directly (the name on the “For Sale” sign or the ad), they are actually calling the agent who’s first and foremost responsibility is to protect the interests of the seller!
This is not to say that you cannot buy a home from a listing agent .... they are licensed professionals and are obligated to work with a buyer in a fair, honest and ethical manner as their customer, but they do not necessarily owe buyers the fiduciary duty that they owe their client, the seller. Without a signed Buyer Agency Agreement, anything that you disclose to the listing agent about your budget, motivation or otherwise, can and will be used to benefit the position of the seller during negotiations.
What is a buyer to do? Hire your own Buyer Agent! You can interview potential buyer agents and choose the one who you feel will work the hardest for you, has the best track record, and whom you feel comfortable with. Furthermore, a buyer agent’s services are almost always paid out of the gross commission that the seller has paid to their listing brokerage!
When you have found the sales representative that you want to work with, you will sign a contract called a “Buyer Agency Agreement” which legally obligates your agent to provide you fiduciary duty, confidentiality and to protect your interests and motivations. In return, you agree to work solely with your agent for the time period stated therein, and allow them to collect their commission from the sale of the property that you purchase.
Once you have chosen your Buyer Agent, you will be in a much better position to find the best property for you. Many listings are sold before the “For Sale” sign ever goes up and there is a time lag between realtor’s MLS and the public MLS website, so your Buyer Agent is able to notify you about a hot listing before it hits the public portals. Once your agent understands your preferences, they will also keep their eyes open for you as they inspect properties daily.
Remember that during the day, while you’re at work, your agent will be out inspecting and comparing properties to find you the perfect fit! In addition to helping you find a property, a good agent will also be able to help you with things such as mortgage pre-approvals, lawyers, insurance, and home inspector referrals.
Buying a home can be an intimidating task. Hiring a Buyer Agent to guide you through this process is one of the best ways to ensure that you will be prepared to make a confident and informed decision when the time comes to place your offer.
For more information, please call Michelle Makos at 905-831-9500 or 416-300-3004 or email at michelle.makos@rogers.blackberry.net
12 Reasons to List now
During the Holidays and the Winter Season!
There is less competition for buyers
Winter prospects are more serious buyers
Your home looks better during the holidays
One of the highest percentages of "listings sold" to "listings taken" occur during this time of year
You may receive more money for your home now, because you have less competition
Throughout the holiday season, you may restrict showings during your personal family events
Buyers have more time to look at homes during the holidays, especially during vacations
January is traditionally the biggest transfer month - and you must be on the market to capture that market
By selling now, you can have a delayed closing or extended occupancy until the beginning of the following year if you want to
When you sell during the winter you have an opportunity to buy during the spring, when many homes are on the market
You may have fewer actual showings, but more qualified and motivated prospects
Corporate transferees, who need to buy a home now, can't wait till spring
"Buy and Sell with Michelle!"
Michelle Makos
Sales Representative
Sutton Group - Heritage Realty Inc., Brokerage
905-619-9500
