Hello Web Friends !
I haven't written for a bit because I need to settle in from my holiday and see what was happening and so far, what I see is .... A LOT OF LISTINGS SELLING BELOW ASKING !!!
So here are a few scenarios I have seen lately; First I saw a bungalow in Pickering priced a little high for the market right now and they HELD offers. It intrigued me because I couldn't believe they would hold offers in this market. The Buyers aren't playing this game... so I showed it and my clients and I both agreed not to put in an offer as it not worth the asking and there was no way it was worth competing for.... Offers were Monday night - Still on market, now offers anytime. 20 days later. Did you help your Seller or did you hurt them?
I have seen another listing in Ajax listed for 919 and on the market since July. Then it was terminated and comes out the next day with the same agent for 949 !! Did I miss something???? That to me is just a waste of the agent's time and money. Sorry but when an agent takes on a listing, it is their money and time being spent with NO guarantee that it will sell. It costs the Seller nothing. So why would an agent do that? Who is advising this, the home seller? Are they
not using a Realtor for proper guidance and information?
Then I have seen homes that went on the market priced at last year's prices and they are SOLD CONDITIONAL... so those were priced to sell. You cannot price your home in February/March 2017 prices. Those are gone. Those days are finished.
We have seen some sellers who sold FIRM in the frenzy, have to put their homes back on the market because the Buyers backed out. They either couldn't close or they couldn't sell their own home so the home they purchased is now back on the market and anyone who thinks it should go on for what it sold for is not being realistic. The sellers may have one price and they may take lower... you need to find out the history and a good Buyer agent will do that. When you see the house with me, you are told when it was last bought, what they paid for it, what neighbouring homes are for sale or sold for. How can you make an informed decision without that.
Now to get to the nitty gritty. The September Stats. The numbers are basically this... sales are down 35%, not prices... so the number of listings to solds are down 35% compared to same time in September 2016. We saw this coming but the way they report it, the media skews it. The actual home prices are up 2% from September 2016. Which is still good prices for homes. The issue is people want March 2017 prices and it won't happen. So if you want to list your home to sell it, you need to price in in the range of September 2016 when we were all smiles and optimistic about the crazy HIGH prices of the market and now all of sudden it is like those prices are "you losing money"... well let me be frank, you can't lose money on something you never had... it is like saying a stock is worth 150.00 a share and you didn't buy it and now it is worth 75.00 a share and you buy it and say you lost 50%.. how so?????? The prices are still amazing considering what homes sold for 10 years ago. So all this negative nonsense is ridiculous. And in 10 more years, these prices will be cheap by comparison.
I do think we are in for a bit of a dip at the tale end of this year and early next year because I think they are making more changes to the mortgage qualifications and approvals and that will definitely change price points where some buyers may not qualify... these changes I have heard are coming in mid October but they don't truly know when they will take effect. But when I know, I will let you know.
So all is well and the home which you love and reside is not worthless like the media would like you think. The buyers that are out there are smarter now and they only buying properties priced correctly and they are rarely competing and even if they are, they aren't paying the crazy prices of earlier this year.
If you want the stats for your particular neighbourhood, I would be happy to send them to you, just shoot me an email. But let's be real everyone, the market was out of whack before. Now it is more balanced and normal. I don't know about you but I welcome normal. It seems with all the tragedies we have seen around the World lately, normal isn't such a bad thing.
So if you need anything at all, listings, prices, home evaluation, or just have a question, reach out and call or text me at 416-300-3004, Michelle Makos, Broker Owner at Royal Heritage Realty Ltd. Keeping it Real in Real Estate !
P.S. And off topic, who says you have to have a sign ???? I sell many homes with NO signs (mind you I do love my signs) ... because some of my clients don't want the neighbourhood knowing their business, ... Signs do not sell your home... Especially if you are on a residential street with little traffic. If you want one, great but if you don't want one - say so !! I have had people say, "We don't want one but when we sell, you can put it up sold... " LOL.. I don't care either way. My marketing is what sells your home, not the sign on your front yard. Signs are purely advertising for the agent to maybe get a sign call but for the majority of people, they are internet saavy and search the web. Google me ... Google anyone you do business with.
Have a great long weekend everyone and HAPPY THANKSGIVING... to one and all !!!
Cheers !
Michelle xo
So here are a few scenarios I have seen lately; First I saw a bungalow in Pickering priced a little high for the market right now and they HELD offers. It intrigued me because I couldn't believe they would hold offers in this market. The Buyers aren't playing this game... so I showed it and my clients and I both agreed not to put in an offer as it not worth the asking and there was no way it was worth competing for.... Offers were Monday night - Still on market, now offers anytime. 20 days later. Did you help your Seller or did you hurt them?
I have seen another listing in Ajax listed for 919 and on the market since July. Then it was terminated and comes out the next day with the same agent for 949 !! Did I miss something???? That to me is just a waste of the agent's time and money. Sorry but when an agent takes on a listing, it is their money and time being spent with NO guarantee that it will sell. It costs the Seller nothing. So why would an agent do that? Who is advising this, the home seller? Are they
Then I have seen homes that went on the market priced at last year's prices and they are SOLD CONDITIONAL... so those were priced to sell. You cannot price your home in February/March 2017 prices. Those are gone. Those days are finished.
We have seen some sellers who sold FIRM in the frenzy, have to put their homes back on the market because the Buyers backed out. They either couldn't close or they couldn't sell their own home so the home they purchased is now back on the market and anyone who thinks it should go on for what it sold for is not being realistic. The sellers may have one price and they may take lower... you need to find out the history and a good Buyer agent will do that. When you see the house with me, you are told when it was last bought, what they paid for it, what neighbouring homes are for sale or sold for. How can you make an informed decision without that.
Now to get to the nitty gritty. The September Stats. The numbers are basically this... sales are down 35%, not prices... so the number of listings to solds are down 35% compared to same time in September 2016. We saw this coming but the way they report it, the media skews it. The actual home prices are up 2% from September 2016. Which is still good prices for homes. The issue is people want March 2017 prices and it won't happen. So if you want to list your home to sell it, you need to price in in the range of September 2016 when we were all smiles and optimistic about the crazy HIGH prices of the market and now all of sudden it is like those prices are "you losing money"... well let me be frank, you can't lose money on something you never had... it is like saying a stock is worth 150.00 a share and you didn't buy it and now it is worth 75.00 a share and you buy it and say you lost 50%.. how so?????? The prices are still amazing considering what homes sold for 10 years ago. So all this negative nonsense is ridiculous. And in 10 more years, these prices will be cheap by comparison.
I do think we are in for a bit of a dip at the tale end of this year and early next year because I think they are making more changes to the mortgage qualifications and approvals and that will definitely change price points where some buyers may not qualify... these changes I have heard are coming in mid October but they don't truly know when they will take effect. But when I know, I will let you know.
So all is well and the home which you love and reside is not worthless like the media would like you think. The buyers that are out there are smarter now and they only buying properties priced correctly and they are rarely competing and even if they are, they aren't paying the crazy prices of earlier this year.
If you want the stats for your particular neighbourhood, I would be happy to send them to you, just shoot me an email. But let's be real everyone, the market was out of whack before. Now it is more balanced and normal. I don't know about you but I welcome normal. It seems with all the tragedies we have seen around the World lately, normal isn't such a bad thing.
So if you need anything at all, listings, prices, home evaluation, or just have a question, reach out and call or text me at 416-300-3004, Michelle Makos, Broker Owner at Royal Heritage Realty Ltd. Keeping it Real in Real Estate !
P.S. And off topic, who says you have to have a sign ???? I sell many homes with NO signs (mind you I do love my signs) ... because some of my clients don't want the neighbourhood knowing their business, ... Signs do not sell your home... Especially if you are on a residential street with little traffic. If you want one, great but if you don't want one - say so !! I have had people say, "We don't want one but when we sell, you can put it up sold... " LOL.. I don't care either way. My marketing is what sells your home, not the sign on your front yard. Signs are purely advertising for the agent to maybe get a sign call but for the majority of people, they are internet saavy and search the web. Google me ... Google anyone you do business with.
Have a great long weekend everyone and HAPPY THANKSGIVING... to one and all !!!
Cheers !
Michelle xo
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