Thank You Pickering and Community Votes

 

2016 Trailwood Court, Pickering - JUST LISTED - $999,900

** JUST LISTED ** Prime Pickering Location - Ravine Lot - 4 Bdrm w/ I/G Pool & Hot Tub. Finished Basement with Pool Table. Close to Schools & 401/407. Quiet Cul de Sac, great for raising a family. $999,900 - Backyard is awesome!

593 Marksbury Rd., Pickering - SOLD OVER ASKING

SOLD OVER ASKING - Steps to the Shores of Lake Ontario ... Fabulous Opportunity for a Renovator, Contractor or someone looking to put in some TLC !!! This ideal home is surrounded by million dollar custom homes. It's being sold in "AS IS" condition. $699,900.... Excellent Opportunity for the right Buyer !!! 

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.

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

1239 CANBOROUGH CRES., PICKERING - SOLD OVER ASKING

Check out this fabulous new listing in family friendly Glendale.  5 Level Sidesplit with a spectacular kitchen, open concept, 3+1 bedrooms, finished basement, lush landscaping and private backyard.  This home is close to schools, transit and shopping.  Nothing to do but move right in.



Stainless Steel Appliances, Front Loading Washer & Dryer,  Two Walk Outs

to tiered Decks and so much much more.   Hitting the market Tuesday for $749,900... call for a private showing.

View from the Deck

Showings are by appointment only. No pets.  Shows pride of ownership throughout.   Truly a pleasure to show.
Located on a pie shaped lot on a great crescent in Pickering.  Your backyard oasis awaits.

1239 Canborough Crescent.... Welcome Home 

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.

Would you like NEW Relevant Listings Emailed to your INBOX without searching everywhere?

Recently I have had so many people on my websites looking for a house and then come back the next day and look at what is new... if you would like to have NEW listings emailed to your INBOX every morning that match your search criteria, follow this link and set it up !  It is FREE and it is accurate.  Don't miss your dream home because you are searching on sites that don't remove SOLDS and EXPIREDs.   Let's do it right !

It's the Wild Wild West Out There

I have to say the market is going full steam ahead.   Was in multiples last night again for a client.  Once again we did not improve high enough to win BUT at some point, integrity has to prevail.   How much is too much ???   I seems to me the prices are moving way too high, too fast.

People say Realtors are making a killing this year.  Well as a partner in a

brokerage with over 100 agents, I can tell you firsthand, they are working ten times harder to put one deal together.   The market is lacking inventory and the buyers are at the mercy of the seller.  Agents are showing and writing offers that go no where and are back at it the next day trying again.    

In the heat of the bidding war, when do you say, "Ok, I think we need to walk".  I think I have said it several times this month... LOL... because I just feel like the home does not have that value attached to it.  If I wouldn't feel comfortable paying that for the house or selling it to my kids for that price, I certainly cannot advise my buyer to pay that.

At some point, you have to say, "It's your call" to them and let them decide how much is too much.  

Has Durham Region been undervalued for too long and we are just paying catch up to York Region and GTA?   Are we now just being seen as the closest pocket to Toronto that is affordable?   I would like to think so because nothing else seems to justify this huge spike in prices.

In 2006 a detached home in Pickering the average price was $344 approx.  In 2016 the average price for a detached home in Pickering is close to $700K... so you have a 100% increase in value in 10 years.   Prices have doubled for conversation sake.  

If only we knew then what we know now !  :)   So do you think in 10 more years, the average house in Pickering will be 1.4M.... Hey it doesn't sound so crazy anymore !

Will the market slow down?   I hope it balances out.  A market like this is a slippery slope.  When it is balanced, people can have home inspections, negotiate sale prices etc.   Right now, it is the Wild West out there.  Seems like common sense is out the window and it is just "pick a number" ...

Agents need maybe to list higher to stop all the multiple offers.  That might put the brakes to this... Who knows... But at least I know I can sleep at night because I am not letting my clients pay some of these ridiculous prices.....

Happy House Hunting Everyone..... May the best offer win !  

Average Selling Price Up 13.8% in Durham Region

So you want to know how much your home is worth?  Well studies released by the Durham Real Estate Board show home selling prices are up an average of 13.8% from the same time last year !    Not a bad return on your investment.  

For a more detailed evaluation, call me and I would be happy to drop by and assess your individual home value.  Every home is different.  Why not know what your biggest investment is worth !!!

It's a Sellers Market Out There !

Well folks, here we are approaching Easter weekend and the market is insane.  Buyers are fighting to win their Dream Home in multiples almost every night of the week.  Many people think that this is only happening in Toronto and I can tell you that is simply not true.  Durham Region real estate is a hot commodity right now.

Recently had on home in Ajax, 21 offers and sold almost 120K over asking.  Is

Welcome to Multiple Offers !

that unusual?   Not right now.  It seems to be becoming the norm.  But how far will it go?   We need inventory to balance this market out.   Yes, interest rates are low.  The demand is high but the supply just doesn't seem to be there.  A minute a home is listed, it seems to sell within a week or less.

Agents are waiving inspections and financing conditions just to WIN.   If you are the listing agent or the Seller, this is great times but if you are on the other side, it can be rather frustrating.   People ask me all the time, "will this continue?" and the trust to the question is, I simply don't know.   I don't see it slowing down any time soon.

We are getting buyers from Overseas, buyers from Toronto who can now sell their house there for $1M and move to Durham and buy for less money but not necessarily buy down in size.  It is driving our house prices through the roof.

I think the important thing to focus on here is know your market.  Buyers should have an agent from the market they are buying in.  It doesn't matter where you buy but make sure you agent knows the area, schools, market values, past sales, etc.

This is important.  Your agent when you are a Buyer is there to PROTECT your

interests.   Please keep this in mind as I see Buyers going to Open Houses now and thinking if they use the Listing Agent, they will get a deal... NEWS FLASH - there are no deals right now !!!   This is a strong market... Highest and Best Offer wins... but at least if you have your own Agent you know they are working in your best interests.

If they tell you, that's high enough - listen !   Don't buy with your emotions.  Listen to reason.   We have been doing this a long time.  

Back in 1989/1990 a similar market happened, interest rates were higher (12 to 14%) and home prices were much more reasonable but it corrected itself in a matter of weeks.   It took years for those homes to rally back to the prices Buyers paid for them.

I am not trying to scare anyone out of buying real estate.  It is your biggest and best investment.  I am just trying to educate both Buyers and Sellers.  If you are thinking of selling and are sitting on the fence, don't wait too long... you never know what can happen and if you are buying now, use an experience agent who knows your market you are buying.  Just because they are your family or a friend, that doesn't necessarily mean they know what works in that particular neighbourhood.

I can honestly say, from what I have seen lately, the offer price needs to be at least 5 to 10K for each offer over asking FIRM to win.   So it depends on how many offers and which neighbourhood and price point you are buying in.

The good news is ... we have a healthy real estate market right now which is good for the economy.   Good luck in your home search and play your poker hand right.  Keep your cards close to your chest.  Share your numbers with your agent so you can strategize together the best way to attack the situation and come out on the winning side.  

Have a wonderful holiday weekend everyone and happy house hunting !!! 

Surprising Ways Buyers Find Homes

Surprising Ways Buyers Find Homes

Do you ever wonder how most people find the homes they eventually buy? You might imagine them driving by a “For Sale” sign or seeing a home for sale in the newspaper and then calling to enquire.

Of course, many buyers find out about listed properties that way. But, according to research by the National Association of Realtors, there are many other — sometimes surprising — ways buyers find their next dream home.

For example:

·          88% of buyers find a home with the help of a real estate agent.

·          90% of buyers search online as part of the home buying process. (Such as viewing a property’s profile on the agent’s website.)

·          69% of buyers searching for a home using Google, use a specific local term, such as “Pickering homes for sale”.

·          29-46% of buyers attend an Open House as part of their home hunting activities.

Overall, the research shows that buyers are using a multitude of ways — combining online and offline methods — to find homes. 

What does all this mean to you? If means that if you’re preparing your home for sale, you need to ensure your marketing plan takes into account all the ways buyers are finding properties — so you can be sure that they will find yours.

Looking for a REALTOR® who knows how to market your home for maximum exposure?   Let's talk.   I would be happy to assist you.

MULTIPLE OFFERS AGAIN ~ SOLD OVER ASKING

Here we are at the end of July almost and no slowdown in sight.  Interest rates still at an all time low and housing market still going crazy.  Not enough inventory for the buyers.  Bidding wars are the norm now.   Most homes that are listed are holding offers until a certain date.  The key is to not hold them that long and not price it too high.  Sometimes this is backfiring on agents who are not pricing the home correctly in order to entice a multiple offer situation.

The benefit to the Seller is that it is done in a short period time - I usually do Thursday to Sunday or Monday - and then best offer wins... this last property had over 100 showings between Thursday and Monday...Multiple offers were registered and then "Best Offer" wins.

Word to the wise, if you are participating in a multiple offer situation, don't bring an offer conditional on financing and home inspection with 8 or more offers, you aren't going to get it and you are only increasing the value of this home by adding your offer in the mix.   

In this market, it is hard when there are so many players to win in a multiple situation like that .. so you need to scope out a listing that has been on the  market a while, maybe needs work, or overpriced and try your conditional on financing and inspection offer but not when a house has 7 or more offers... I feel bad for the agent and for the buyers waiting ... but that is the game of real estate right now.

Its tough to buy a home when you are constantly in a multiple offer situation. Last night was the same thing.  Seven offers.  One winner.  Happy to say my client was thrilled with the results and the winning Buyer Agent was as well.

If you are looking for an aggressive approach to selling your home and an up to date market evaluation, call a local full time Realtor .. or call ME... :)   Have a super week everyone... Mine is off to a great start.
Cheers !

392 Rosebank Rd. S. - Just Listed - South Pickering Bungalow for Sale

** JUST LISTED **

Prime South Pickering Location.  Ranch Bungalow on Corner Lot w/Fenced Yard and Pond.  3+1 Bdrm Family Home.  Finished Basement, Hardwood, Gas Fireplace and more.  Updated Kitchen and Bathroom.

VIRTUAL TOUR

Pre-inspection Report Available Upon Request.

Minutes to GO Station and LAKE !

50 x 151 Ft Lot.

$499,900

1875 Malden Crescent, Pickering Home For Sale - $549,900

Relax in your backyard with a two tiered deck ...

3+1 Bedroom Sidesplit with all the finishes.  Hardwood floors, New Windows, Furnace, A/C, GDO, Renovated Kitchen and Bathrooms

Located in Family Friendly Glendale of Pickering.  Close to transit, schools, parks, shopping and more.

Renovated Kitchen with walk-out to upper deck with new Stainless Steel Appliances and Counter top.  No Disappointments here.

January 2015 - Housing Market - Sales Up, Interest Rates Low, Inventory Low

2014 Sales up 6.7%
Interest Rates Low
Supply and Demand

With low gas prices, will you be saving more money and investing in real estate? To me, real estate is and always will be your best investment.  

Whether a first time buyer or an investor, prices are continuing to rise and the market is strong.

I look back to what I paid for my first home and what it is worth in today's market and think, "Hmmmm, instead of spending money on some of the stocks I bought, I would have been better to buy an income property and let the rent pay for it."  That would be great for retirement.  It is just something to think about.

Real Estate will always be a great investment in my mind and not because I sell it but because I believe it... and the numbers speak for themselves.

Young people with savings who live at home, should also consider buying a small property and renting it out and invest in their future.

It is win/win.  

So if you are considering selling your home, the market is strong and prices are high.  Spring market starts NOW !   

If you are looking to move up, I recommend finding a good local agent, list your home first so you have more negotiating power when you buy.. remember the market is busy and the stronger your offer is, the better chance you have of winning.

With that being said, enjoy the information video courtesy of TREB and I hope if you need any real estate advice in the future, you will contact a full time Realtor who you can trust and work with, to maximize your equity and service all your needs.

Happy Buying & Selling !
To search current homes for sale in GTA and Durham Region - visit www.michellemakos.ca

Holding Offers - Who is REALLY Benefiting??

Ok here goes !!!  Being a full-time professional Realtor, I can honestly say that I have an equal amount of Buyers and Sellers this year, so this is being written with no pull one way or the other,  BUT in my experience, it has become apparent that holding offers is very prevalent.   My concern is this ... as a Buyer Agent - Is it not hard to keep your client motivated to participate in what I call a "goat rodeo"?????....They see the house, they love it and then you tell them, "Great, we have to wait until Monday night:"   Do they lose interest?  Do they talk themselves out of it?   Are they eager to participate in Multiple Offer situations?   I would have to say NO.

So now you have Buyers who are disengaged with the process.  They think we are holding them hostage and agents are over selling the properties and then saying, you need to go firm to win.   Is this really representing their best interest?

Then you have the flip side.  The Seller who thinks this is the way to do it.  List a bit lower than last sale and let people pay higher than asking and sell it in a weekend.   Sounds like the Listing Agent wins in that case and really would have to wonder if the Seller would not have gotten that price regardless if it was just priced at "market value" and let the offers come in as they are viewed and if a multiple offer situation occurs, so be it but don't force it.

I guess it depends on what side of the fence you are on.  I am not saying I don't hold offers ~ because now, most Sellers want that ... BUT ... even as a Listing Agent, if you get an offer priced way over asking and is firm, are you not a little worried at if it will appraise?   Just me speaking out loud here.  

I have walked away from offers when the prices seemed so inflated ~ I advise my Buyer "let's wait"... because honestly, "this house isn't worth it".... and I guess maybe that comes from having experience and knowing the homes in the Durham Region.   These crazy bidding wars usually are from out of the area agents coming into Durham Region and truly I have to wonder if they even know where the Durham/York Pipeline is or if they know about the Whites Road extension and so on.

So the bottom line, no matter whether you are a Seller or a Buyer, choose an agent you feel comfortable with, who KNOWS your neighbourhood and will REPRESENT YOUR BEST INTERESTS.

Happy House Hunting to  All and to all a Good Night !  :)

1557 Dellbrook Avenue - SOLD OVER ASKING

Are you looking for a 4 Bdrm Home with a 2 Bdrm. Basement Apt !  Look no further.  This fabulous all brick family home in the Brockridge neighbourhood of Pickering has that and more.

This home hits the market today !  Features new paint on main floor and 2nd floor ceiling.  New Hardwood flooring in the family room.  Complete basement renovation in 2010 with new kitchen, washroom and flooring.  New Garage Door 2014.  New Driveway 2013.  Home Energy Audit 2010.  R50 Insulation 2010, 30 Year Roof 2007.   Bring your fussiest client, nothing to do here but move in.

Should you wish a private viewing please call me and I would be happy to make those arrangements.

265 Senator Street, Pickering - NEW LISTING

Don't miss this great new listing in Pickering.  3+1 Bdrm Stunning Home.  Viewings by appointment only.  For information visit my website or click on the virtual tour below.  $519K.  This beauty won't last !

265 Senator Street, Pickering

COMING SOON - 1675 Goldenridge Court, Pickering

SNEAK PREVIEW - MONDAY APRIL 1st, 2013

Superb Marshall Built Executive Home in High Demand Prestigious Enclave.  Many luxury upgrades, fabulous kitchen with quartz countertop, Chefs Desk, Upgraded floors and trim, Soaring Ceiling in Family Room w. Gas Fireplace, 50 Ounce Carpet, 5" Baseboards,  9' Ceilings on main level.  This home truly has the "WOW" factor. Inspection Report by Global Home Inspections.  Shows to perfection !!!