Thank You Pickering and Community Votes

 

334 Painted Post Dr, Toronto - JUST LISTED

 

738 Krosno Blvd., Pickering - SNEAK PEEK

Calling all First Time Home Buyers !! This lovely Freehold Townhouse (No Maintenance Fees) is hitting the market tomorrow. 3 Bdrms. Updated Kitchen. Walk Out to a Lovely Deck and Backyard. Walking Distance to Lake, Restaurants, Schools, Park and Transit. Take a look. For a Private Showing, call Michelle Makos at 416-300-3004 and I will be happy to show it.

1300 Belair Cres., Oshawa - COMING SOON TO MLS $599,900

Call for private showing !!! Hits the market Thursday ! Perfect for First Time Home Buyer or Investor. 3+2 Bdrm Bungalow with Separate Entrance. Check it out !

MARCH MADNESS - PRICES CONTINUE TO SOAR

I hope you are enjoying some nicer weather.  The market is much of the same.  Many lenders have come forward expressing some concern on the skyrocketing prices but with interest rates still low and the demand still there, house prices are soaring at a record pace.

A small glimpse from the March Market Report:



The change over year during a pandemic no less is absolutely unreal.  The 905 Market is almost doubled in sales from the 416 Market and they seems to be no end in sight .


We are seeing record sale prices.  The inventory is increasing in the Durham Region as well which has slowed the amount of multiple offers but they are still selling are record numbers.  

The Toronto Regional Real Estate Board (TRREB) says the average selling price jumped 21.6 per cent

in March, versus the same month last year, to $1,097,565.  How long can this last?  Your guess is now as good as mine.  I don't even know how they can possibility correct this without causing some people financial ruin.  It is like the train has left the station and it is full steam ahead.  

Something eventually will happen to put the brakes to this - numerous theories but that is all they are... guesses.  I have heard about Capital Gains Tax on your principal residence ( if valued over $1.4)... other things said we Capital Gains Tax is house was sold within a short period of time (ie. flip) even if your principal residence but these are all just speculations.  

Something will eventually slow this down.  Prices seems to be consistent.  The odd one here and there are sold below asking and some we are seeing not getting any offers and they are relisting it $100,000 higher... all kinds of crazy things happening.  Majority of offers are still firm with no conditions.  

Sales set a record for the third straight month with 15,652 homes changing hands, which is nearly twice as many as March 2020 when COVID-19 was first declared a pandemic and home sales dropped dramatically.  So clearly Covid isn't stopping the real estate market.  You can't go for a hair cut but you can looking at houses.  Who knew!!!

Now let me narrow it down for Durham Region - All Types - Average




Now for Detached Homes:




If you have any questions about buying or selling, I would be happy to assist you.  Just call, text or email.  Work with Realtors you have checked out.  Google Them!!!  I must say I appreciate all of your referrals and I feel blessed to have such great clients to work with both buying and selling.  I appreciate all your questions... Follow me on Twitter @REWoman for daily updates and also know that my live chat on my website now, lets you send me direct messages so if you see anything and have a question, reach out.  Together we can work to inform you with the details you need to make the best decisions.  

Have a great week everyone and stay safe !!! 
 

	Michelle Makos Broker Owner Royal Heritage Realty Ltd P: 905-831-2222M: 416-300-3004 A: 1029 Brock Rd Suite #200 E: michelle.makos@rogers.com FOLLOW ME ON TWITTER FOR LATEST UPDATES - @Rewoman CHECK OUT SOLD PRICES - www.DurhamSolds.ca/sold

 

1000 The Esplanade - Suite #413 - Pickering Condo For Sale

9 Colleridge St., Ajax Home For Sale - NEW PRICE

9 Colleridge St., Ajax

Tribute Built 4 Bedroom, 3 Bath Brick Beauty !
Are you looking to more to northeast Ajax?  This fabulous home just hit the market.  Features main floor hardwood, new roof, Stainless Steel Appliances, Huge Master w/Ensuite, Close to schools and transit.  Relax by the fireplace on a cold winters evening.  Enjoy the privacy of your own fenced backyard.  Unspoiled basement and more.  

TO VIEW THE VIRTUAL TOUR - CLICK HERE

To book a private showing, call Michelle Makos @ Royal Heritage Realty Ltd., 416-300-3004.

28 Bradford Court, Whitby - SOLD

Don't miss this beautiful 4 Bdrm Brick Family Home in Whitby on a quiet family court.  Walk Out Basement with Ravine lot !  No Neighbours Behind !!  Soaring ceilings, grand foyer, double car garage with access to the home, open concept w/hardwood floors and meticulously maintained.

To See Virtual Tour - click here

To book a private showing, call Michelle Makos, Royal Heritage Realty Ltd.  416-300-3004.  This home is worth checking out !!! 

77 Andrea Rd., Ajax Home for Sale - $543,811

HITTING THE MARKET ON VALENTINE'S DAY

Don't miss this sweetheart of a DEAL !
3 Bdrm Detached Home, minutes to the Lake.
Finished Basement, Eat In Kitchen and more.

OPEN HOUSE SATURDAY AND SUNDAY
2 TO 4 PM
February 17 & 18th

www.77Andrea.com -  VIEW VIRTUAL TOUR

Interesting Take on the Housing Market

A few weeks ago at the TREB AGM, we had Benjamin Tal from CIBC speak about the current housing market and the similarities between Toronto and Vancouver.   A lot of interesting insight and graphs to take in but worth the read and thought I would share it with anyone interested.  Great insight in a confusing market.

When the Fog Clears - The Housing Market - CIBC Report from Michelle Makos

November Market Minutes :)

Hello Website Friends !!!

Well the TREB stats are out.  The market is still moving .. SLOWLY but moving.   Sales prices are about 2% above the sale prices in October 2016 but sales are down 26.7% from the month before.   

I watched this video/link on Global yesterday :  RICHMOND HILL WOMAN CAUGHT IN HOUSE SQUEEZE.

I am sorry, this is getting ridiculous... everyone was warned that the prices were going up too quickly and the bidding wars were getting dangerously high and that buying FIRM with no inspections or conditions was a slippery slope and people still wanted to buy buy buy.  Now when it is not going up leaps and bounds,  they are upset with mortgage brokers and realtors.   I warned people at the beginning of the year.  I was good with people selling that weren't buying in that frenzy to cash in and get out.  I told BUYERS to wait.  Don't buy now.   It didn't help my pay cheque but it was the honest thing to do.  NOW and in the next six months, we are going to see another slight drop in prices and then we will be balanced out. 

I think if you have sold your home and/or are a first time buyer, NOW is the time to get out there.  So many people NEED to sell because they are caught in a mess,  like this woman in the video and will take a lower price than listed just to get out of the mess they are in.    If you are selling right now, you need to make sure you working with a solid agent who knows the market and has great exposure on the web because that is where the buyers are going or my WEBSITE of course, because it is always up to date.. :)

So the new market watch is below for any of you that are interested in looking at it.

Market Report for October 2017 - Residential Resale from Michelle Makos

With the new mortgage lending rules changing January 1st, people are looking to buy now, especially those buying with 20% down who will have to qualify for higher rates.  It is believe it will effect about 20% of their buying power BUT on the flip side, I have heard that you can qualify through Trust Companies and Credit Unions and they are not subject to those qualificaiton rules... so this may be a loophole in the new rules... or they may change it before .. who knows.

All I know is use a professional Realtor who will advise you of the market and help guide you to make informed decisions.   Anyone who has worked with me will testify to that.  I would rather see us walk away, than over pay or get in a mess.  The stress and aggravation are not worth it.  I have been there.   1989/90 and I wouldn't wish it on anyone.  So learn from my mistakes.. :)   Have a great November everyone and if you have any questions or know of anyone moving or looking to buy, I am always happy to help.

Cheers !!
Michelle
Your Friend In Real Estate
ROYAL HERITAGE REALTY LTD.
Broker
416-300-3004

2137 Blue Ridge Crescent, Pickering - SOLD

Don't Miss Out on This Beauty!

SORRY IT'S SOLD

www.2137BlueRidge.com

 Location, Location, Location!! Stunning Family Home In High Demand Brock Ridge Community. . This Pampered Home Has 3 Bedrooms, 2.5 Baths And Features Patio, 2-Car Garage, And A Terrific Finished Basement. Fresh Paint Everywhere. New Carpet. An Affordable Dream House. No Pets And Non Smoker. Nothing To Do But Move Right In. Bright Eat In Kitchen With W/O To Fully Fenced Backyard. $669,900.   Best deal in the neighbourhood.

DURHAM REGION HOMES STILL HOLDING THEIR OWN

I am happy to say Durham Region prices are holding their own.  Even doing better than some Toronto areas.  Our prices are still up 4% from the same time last year.... and a lot of other regions can't say that.   We have a lot of listings and our sales are down but not our prices year over year.   Yes we are not seeing the prices of Feb and March 2017 but those days are gone now.   Interest rates are start to increase slowly so anyone in variable rate mortgages might want to speak to the Broker about locking in.  I have a feeling we may see another one or two before the year is out.   I will keep you posted when the new rules come out this month and when they will take effect.  Until then, enjoy this wonderful October weather and call me if you have any real estate needs.  Cheers !

Great Things Never Came From Staying in Comfort Zones

Happy Long Weekend My Fellow Friends and Followers,

I just wanted to update you all on the dreaded July numbers and throw a little light into the dim picture the media has painted.  First of all, SALES were down 40.4 % from the same time last July (2016)... Sales NOT prices.  I have heard so much confusion and misinformation.  The sky is NOT falling in on real estate.  In fact, July and August have ALWAYS been the slowest time in real estate and with the added regulations that came about in April it just made it worse.... so yes the numbers are down for the 3rd consecutive month and I would guess August will be about the same..... BUT
look to September to see a nice hiccup in the  market.

I think we are just balancing out right now.   Prices are still up from the same time last July by maybe 5% but we saw huge growth in 2016 so anything now looks bad and the press has a way of spinning things to sensationalize them.  So if you are thinking on buying or selling, don't be discouraged.  Opportunity may be knocking.... I would say September after the long weekend you will see a more balanced and happy market.  Buyers will be able to have their conditions and Sellers will still make money .. maybe not at the 2016/early 2017 prices but let's face it, those prices were beyond ridiculous.  Anything that goes up that fast, was not normal.  I believe it was all due to lack of inventory.  Now we have a surplus of inventory and the Buyers seem to be waiting?  What are you waiting for?  Interest rates are still amazing, house prices are coming down to what they were a year or more ago and you have CHOICE, which you didn't have as much of before ...

This week I read this quote "Be fearful when others are greedy and greedy when others are fearful" ~ Warren Buffett AND how true is that statement.   Right now, people are running scared like the sky is falling in real estate, the bubble is popping etc and in fact, a smart person would be seeing that as an opportunity to get in the market.  No one ever looked back in history and said "Gee I wish I never bought that house"... whether it was in the peak in the market or the bust.... because real estate is not only an investment but it is YOUR HOME.   My goodness, no one is losing money if they bought in 2016 .. because chances are they aren't selling it... for a while and when they do, they will be just fine.  It is more the speculators who come in and buy homes and flip them and want to profit from it... not people like you and I who buy real estate for our home, our children's home and future retirement.

So please stop letting people scare you about real estate.  Yes it is slow, always is SLOW.  Yes, prices are down considerably from February and March and April of 2017 and I am glad they are.  The prices were going up too fast and buyers weren't given the opportunity to even have a second look or a proper inspection.   So YAY to a real estate slow down but I can guarantee you that the market will be healthy and strong in September ... once the dog days of summer have passed... not to mention the rain - the weather this summer has been awful and people aren't out looking at home in the rain.  They just aren't.

So if you are looking to buy, keep looking... you're timing is awesome and if you are thinking of selling, I would wait until after the long weekend in September and then reach out and let's talk about what we need to do to sell your home.  I still recommend people sell before they buy in this market and have always preferred people do that but the past 3 years that hasn't been the case... because you couldn't buy anything without firm offers in competition.  Those days are gone hopefully for a while.

Now let's breathe a little easier that the real estate mania has finally settled down and we buy and sell with more realistic and beneficial goals than before.  I am attaching the Durham Region stats for July and you will see the numbers are still good.  The days on market are more but the sale prices are still good... in comparison to 10 years ago, they are great !  So people need to stop being so negative and look at this as a great time to buy in real estate.

Have a great long weekend everyone... and hopefully we get some nice weather.   If you have any questions about the market, your home or any listings, please don't hesitate to reach out.

Please remember if you are buying and selling in the SAME MARKET ~ the conditions won't effect you.  It is when you are buying in one market and selling in another that you may get caught, this generally happens with long closings but if you buy and sell within 90 days, you are going to be find.  What you save on the buy will be the difference you may "think" you have lost on the sell.

In 10 years from now, we look back on these prices and laugh and say, "Man I wish I bought more real estate"... just like we have all been saying the past year and half I am sure !!!  I think we all know the housing plan put in place, spooked a few buyers and the interest rate hike didn't help but the deals are out there and ones that are shopping now, are going to look back and say, "I am so glad I did"... between now and the end of 2017, you will see some great opportunity.  Be ready for them.

Cheers to that !
Michelle Makos
Direct Line - 416-300-3004
Broker/Owner
Royal Heritage Realty Ltd.

TIMES ARE A CHANGING !!!

And just like that ~ we have a Buyers Market !!!

As you can see, the prices have fallen from April to June considerably.  Anyone waiting to buy a home, your wait time is over.  I would recommend locking in the interest rates now as next week we will see BoC increase Prime which will effect the mortgage rates.

If you have been waiting to get into the market, NOW is the time.  With the market being saturated with listings, you can negotiate the price like you have not seen for a few years.

If you are interested in being sent new listings, simply email/text or call and I would be happy to set that up for you !!!

Take advantage of this market change ... these don't happen often but when they do it is opportunity knocking !!  Investment property, first home... Let's go shopping !!

MARKET UPDATE - MID JUNE 2017 - WHERE DID ALL THE BUYERS GO?

I just wanted to give you a quick update.  The market is saturated with listings. 1:10 ratio.   So currently in Pickering, we are sitting with 232 Freehold Active Listings and in the past 7 days, 28 have sold.  What does that tell you?  Buyers choice !!!  They can negotiate and they have so much choice they can be picky !!!   This is where a good negotiator working on your side can save you thousands of dollars.  The same scenario  is happening in Ajax with 323 active listings and only 20 SOLD... and Whitby has a whooping 370 Active Listings and only 39 have SOLD.

Many of these people on the market right now have bought FIRM in March and beginning of April and are starting to panic.  They NEED to sell in order to close on the purchase they made.  Thank God I don't have any clients in this situation.  I had a feeling this was going to happen and now it has.  It is a desperate situation for many people out there... and it is unfortunate.  

BUT if they do not sell, they will not CLOSE on their purchase and in turn that 
will result in lawsuits galore.   The Sellers will sue the Buyers for not closing but it isn't just for the deposit, it will be for damages.   Damages can include penalties and the difference in the sale price if they have to resell the property and it sells for considerably less.  Unfortunately this is starting to happen now with June closing and many July closings where the homes are still on the market and not sold.

If you are thinking on buying an investment property or a first time buyer, this is the optimal time to find a good deal.  If you are looking to move and sell and buy, I highly recommend you sell first as it may not sell at all... and if you were looking to just list to "cash in", although the prices are still high, the days of multiple offers and no conditions (financing or inspections) are gone... That ship has sailed in Durham Region for now.  Let's see what the new stats say for Mid June when they are released.

And on a brighter side, I want to wish all the Dads out there, a Very Happy Father's Day and if you aren't a Dad, have a great day and enjoy the weekend. Take care and I will keep you posted.  Remember, if you want to know a sold or have a question, reach out and if you know anyone looking to buy or sell, do your research.  Use a Professional.     Have a great evening !!!

And Just Like That !!

I just thought I would update everyone on what I see going on... especially in Durham Region.   It would appear that everyone who wanted to sell their home, waited until after Easter weekend and it seems that the we are now saturated with listings.

By looking at the listings and the sold listings it would appear the ratio is about 10:1... meaning for every 10 homes listed, ONE  home sells within a week.  Is this bad?  Not necessarily.  This just has not been the norm for so long that people are panicking.

Let's not panic.   The Buyers now have great opportunity to purchase homes without the bidding wars and without paying crazy over asking prices.  They may even be able to get a home inspection.  Those days were unheard of a few months ago.. hell, even a few weeks ago.

But it has definitely shifted and Realtors need to face the reality that the Sellers are no longer in the driving seat.....The BUYERS are... but many of the buyers were frustrated and didn't want to play anymore and have retreated.  It is time to revive those buyers because opportunity is knocking right now.  There are some sellers who are just hoping to cash in while the prices were at an all time high, and it is pretty safe to say, I think they may be a few weeks to late.  But there are also sellers out there who have bought in March and early April and MUST sell their home in order to close on the purchase.  This is where things get tricky.

Do they have options?   There are always options.   If you are in that position, you need to stay in close contact with your Realtor and get sound advice.  It isn't as easy as saying "keep my deposit".   If you think that, you are mistaken.   If you bought firm, you signed a legal contract.   If you are nearing your closing date, you need to discuss your options.... extend your closing to give you more time, if possible.   See if the Seller you bought from will take back a mortgage for you, if not, call on family to help you come up with funds to close the deal or speak to a mortgage broker about private funds.  But DO SOMETHING... don't wait until the 9th hour... nothing can be done a day before closing.  Deal with it sooner rather than later.

I was one of those people that bought in 1989 and my back up property didn't sell and what a nerve wrecking time it was.  I speak from experience.  Work with a Realtor that knows what they are doing.  I didn't and it took me years to recover from poor representation.   Have a plan of action.. what if... ask questions.

People that think they just lose their deposit are dreaming... that rarely is all they lose.   So be informed.   But if you are a buyer out there, the market is your playground right now.  With the market full of listings, you are able to shop til you drop.   What are you waiting for?   There are deals out there to be had.   You just need to find them.  I think this summer is going to be a great time to capitalize on some great deals.

Just know - the market is quiet.  You may have noticed all the "FOR SALE" signs out there and the SOLD riders are not going up like they used to.  This is becoming more balanced.  Agents can now really negotiate on your behalf.  If you have older children living at home, this may be the time for them to grab something.  There are homes out there selling for UNDER asking now.

Homes are being listed at the price they are expected to get and not silly under value prices and encouraging bidding wars.  Those days are slowly disappearing. This is good news for buyers.

On top of all the uncertainty, we are also seeing some Buyer Remorse out there.   Buyers who haven't closed yet on their deals and now seeing all the choice out there are feeling they overpaid. This is always going to happen if you are caught when the market is shifting.   Timing is everything and no one has a crystal ball.   All I can say to that is, I am sure in 10 years from now, you won't regret your purchase because real estate is one thing, if you buy it and hold it long enough, you will NEVER lose.   So hold on to your hats and get ready for a wild ride.

If you are looking to purchase a home or sell a home, work with someone you trust and is working in your best interest.   This too shall pass but for now, it is definitely been a fast turnaround.  Scary for some and opportunity for others.

Keeping it real in real estate !
Your friend
Michelle Makos
Broker/Manager - Royal Heritage Realty Ltd.,
Direct:  416-300-3004

APRIL 2017 - AVERAGE SELLING PRICE IN DURHAM REGION

Pickering Detached Homes hit over $1M  - check out the latest selling prices.   More listings coming out daily, market is more balanced, Buyers now is the time to get out there.. the market in May seems to be shifting.  Less multiples.  Is now the time to buy?  Oshawa was actually ranked 2nd in Money Sense magazine as one of the best places to buy real estate !  Contact me if you have any questions about the real estate market, I would love to hear from you.

February Home Sales - Just Released for 2017

February 2017 Market Watch - JUST RELEASED from Michelle Makos

As you can see another steady increase in sales... on average we are seeing an increase of 27.7% from 2016 to 2017.... A true sellers market !   

43 MIchaelman Rd., Ajax - Just Listed !

Are you looking to get into the market?  This home is the ONE !!  Wonderful freehold end unit townhome on a corner lot with fenced in yard and professionally finished basement.  Wrap around Porch.  Huge Master w/ 4 Pc Ensuite and Open Concept Main Floor... All this for $579,900.00  

If you would like to see the VIRTUAL TOUR - CLICK HERE

Offers being accepted Monday, March 6th by 7 pm... Don't miss your Dream Home.