Have a Walk Away Number !

Hey everyone,

Just thought I would give you a quick update with what is happening in the market out here.   Buyers are completely frustrated and so are the agents.  The prices are going up every day.  This weekend a house in Whitby listed for 7 something sold for over ONE MILLION dollars... Complete craziness.

So I guess what I am trying to say is work with someone you trust.   Don't get talked into some of this nonsense.  There will be another house... be informed and be ready ... but don't be stupid.

AND... don't put in conditional offers .. chances are you are going to lose (at least out here anyway) and you are only boosting up the prices because the other firm offer, isn't being told yours is conditional.  They just see another offer and then jack their offer up another 10K to beat you and yours wasn't even in the running.

So please use good judgment.   Have a walk away number !  Don't get sucked into the emotional roller coaster .. be smart !   Yes the house prices are on the rise and yes you are going to pay top dollar but you don't have to be reckless.   Stay calm, listen to your Realtor and follow their lead.  They are working for you. They know the market.  They want YOU to win as much as YOU do.  They don't earn a living either when they lose.  They are writing offers and and losing all the time.  Imagine if someone said to you, go to work and if you win you get paid (not right away mind you but in a couple months when the deal is closed) or go to work and do your best with what you have and lose and don't get paid... and keep doing it, week in and week out... for FREE.  So please understand not all Realtors are making tons of money like the media portray.  We have a lot of great agents that are working 10 times harder and making ZERO !!

So let's all work together, quit blaming each other or the Seller or the agent.  It is just a crazy time in real estate and hopefully we get some more inventory so this crazy pace slows down and people can negotiate again... like the good ole days !

But when you are ready to make an offer, be careful.  Don't get caught up in the winning of it.  Have a WALK AWAY number... Play until you hit it and then throw in a towel.  It is just crazy what some of these houses are selling for and I wonder how many people are waking up the next morning sick thinking what they just paid for that house !!   It is supposed to be a special time, buying a home ~ not a game.   Surround yourself with professionals that know the market and understand how to play the game ~ because right now it is a game !

Don't get so invested in a home that you can't walk away.   It's bricks and mortar. Another one will come out tomorrow and probably better than the last..... Slow and steady wins the race.  Be patient.  Do you homework.  Get pre-approved.  Be informed and work with someone you trust to direct you to the finish line !

That being said, enjoy your evening.  Super Bowl Sunday !!!   If I can ever help or answer a question, don't be shy.  I am always here to help.   Hang on to your hat though, I think we are in for quite the ride ... :)

Cheers to that my friend !
Signing off, your real estate friend,

Michelle xo

How much would you pay for this home?

This home received multiple offers... in Vancouver.

Could this be Toronto if this keeps up?

Pickering Home Prices Have Doubled Since 2006

If you bought a home in Pickering in Pickering and still own it, you have just won the lottery !   Prices of homes in Pickering have doubled since 2006...

April 2006 Pickering Sold Summary

Compared to the sold stats from April same time 2016

April 2016 Pickering Sold Summary

You can see an average detached home in Pickering now sells for $772,399... which is almost double from $368,859

That is 100% return on your investment if you sold it today... so anyone that thinks real estate isn't your best investment... I think this may change your mind.

Not to mention you can live it in and not pay Capital Gains tax when you sell it if it is your principal home.   Also with interest rates at an all time low, NOW is the time to invest... who knows how much the average home in Pickering will be in another 10 years... $1.4M doesn't sound that crazy anymore.... Happy Victoria Day Weekend and celebrate your best investment... Your Home !
Cheers to that.

Can this ride continue?

Well as we near the end of May, it would appear there is no end in sight to the bidding wars, multiple offers and craziness in the real estate market.

I have been asked numerous times, do I see an end in sight?  Will this last?  What will happen IF ....

ALL of these are valid questions.  I too am asking myself, how long can this continue.  Homes are selling for record high prices.  Homes that last year in Pickering were 400 and 500 are now selling for up to 100K more.

Is it because the Toronto market with the double land transfer tax has forced people to come East to Pickering and Ajax and drive up the home prices? Possibly.... or is it that Pickering and Ajax home prices were the slowest to increase in the past years and now are playing catch up.  Maybe !

With interest rates at an all time low, I have wonder what would happen if the rates went up, even 2% over the next few years... could people afford to pay their mortgage if it doubled?   I don't know, I guess it would depend on income, down payment and debt.   I just keep scratching my head on this one.

They say the rates are not going anywhere, anytime soon.  So can the prices keep continuing to escalate... at such a fast pace.   Some say they will.  Others are skeptical that this can last.  It definitely is a Sellers market here in GTA and Durham.

As long as the rates stay manageable and the market is strong with Buyers out in droves, things will continue to flourish.

If for some reason, the markets takes a small correction, all you have to do is ride it out.  It eventually rallies back... like it did in 1990... my fear is the people that cannot ride it out.  Then what?  Power of Sales will pop up more and more.  Let's face it, if you bought with 5 or 10% down and prices take a dive, what equity do you have ... unless you can "HOLD" for the time it takes to ride it out, many people will end up walking away... am I making sense?   Sometimes I think faster than I type.  LOL

Well just take this as a warning.  When buying or selling, hire a full time professional who knows the market and prices and will protect your interests. That is all that concerns me with my clients.   Yes, enjoy the new found money when selling at all time highs but remember you have to buy too and then the shoe is on the other foot.  So think it through and talk to your local Real Estate professional and figure out the best strategy for you.

Have a super summer and enjoy the market everyone...may it long continue to thrive and prosper.

And for those sitting on the fence, remember this - never have I heard people lose money on real estate.  My parents paid 16K for their first home and it is worth about 800K... just be smart, maximize your equity and remember, you can't live in a Mutual Fund !  LMAO

Cheers xo

BIG CHANGES !!!

I just wanted to let everyone know that I have officially resigned from Re/Max First Realty Ltd and as of December 1st, I have partnered up with some established and well respected colleagues and we are very excited and proud to have opened our own Full Service Independent Brokerage serving Durham Region and the Greater Toronto Area.

Royal Heritage Realty Ltd. is a dream come true for us.  There is so much we can offer,  that is beyond anything the big brands can do.  We will respect your business and work ever so diligently to represent you ~ whether buying or selling.

My partners include;  Joe Pitino (33+ years in the business with Re/Max), Paul Etherington (current President of the Toronto Real Estate Board), Randy Miller (Commercial/Residential Realtor with Re/Max) and myself.  Together we bring a vast amount of knowledge from technology to long time real estate experience and commitment.  We look forward to working with you and earning your business and referrals.

Proud members of the TORONTO REAL ESTATE BOARD

Stay tuned, lots of great information coming and if you are a Realtor looking for a new Brokerage in 2015, give us a call, we would love to speak with you.

"REAL ESTATE YOU CAN TRUST"

Thank you !!!!

I am very honoured to have my name amongst these great women in real estate.  I look forward to constantly working and striving to provide the best service in real estate for my clients and with my colleagues int he industry.  When you love what you do, you never work a day in your life !!!  Thank you again for this incredible mention.   

New CMHC Insurance Premiums effective May 1st.

New CMHC Rules from Michelle Makos

Happy Endings !

Have you ever had one of those days ???  I am sure many of you have.  Well today I had one of those days !  LOL... but I am happy to report it ended splendidly.  

Not only did my clients end up closing on their home, it would NEVER have happened without the diligence and hard work of my favourite lawyer, John Zinati !!  He called me at 6 pm on a Friday night and worked and made calls until he could hand over the keys to my client who waited patiently.   Sometimes it is all about work ethics and passion.  There are true professionals in the real estate industry and don't ever think there isn't.  Even the Listing Agent was on the phone trying to help get it sorted.
This is why when you are purchasing real estate, work with people who are trusted.  It is all about relationships and hard work.  Because of everyone working together today, my clients were able to send me a picture to my cell phone at 8:30 pm this evening saying "THANK YOU, WE ARE HOME !"

Home Sweet Home

This is why I love my job !!  Look at those smiles !!!   Tonight they are proud homeowners for the first time and a special thanks goes out to John Zinati and his office staff for staying late and getting the job done.

I highly recommend Zinati & Kay and can rest easy tonight knowing my clients are warm and safe in their new home.   Good things happen to good people ! 

I am so thrilled to have been able to be a part of those smiles !  Have a great weekend everyone !  Cheers xo

Marijuana Grow Homes - Red Flags

Marijuana Grow Houses - Red Flags



Inside a Marijuana Grow Home Operation



Marijuana Grow Homes are a growing concern. Having worked for the Ministry of Attorney General in my previous career, I can tell you these homes look fine primarily from the outside but have distinct things to look for on the inside. Some Power of Sale homes were previous grow houses and the costs involved to bring them back to "liveable" homes is quite expensive, not to mention the stigma associated with them and the problem to get them insured by an Insurance Company is extremely hard. So if you are thinking on purchasing one of these homes, think hard and long and know what you are getting yourself into. Here are some tips on identify a Former Grow House and what to look for.

Identifying a Former Grow House:

•Mould in corners where the walls and ceilings meet

•Painted concrete floors in the basement, with circular marks of where pots once were

•Evidence of tampering with the electric meter or the ground around it

•Indications of windows and doors having been sealed

•Unusual or modified wiring on the exterior of the house

•Brownish stains around the soffit that bleed down along the siding

•Concrete masonry patches, or alterations on the inside of the garage

•Patterns of screwholes on the walls

•Alteration of fire places

•Denting on front doors (from police ramming the door)

Identifying Potential Grow House Operators (Purchasers):

•Third party purchasers

•Questionable income sources

•No contract negotiation

•Offers to pay in large amounts of cash; multiple cash transactions

•Multiple down payments on behalf of one individual

•Secretiveness and no reasonable explanations

Identifying Potential Grow House Operators (Renters):

•Did the renter check out every room?

•Did the renter provide proper identification?

•Have references been provided and do they check out?

•Did the renter spend a lot of time viewing the breaker boxes, wiring and plumbing?

Contacts for More Information:

Contact your local police department for more information or specific concerns. In Pickering and Ajax, please call the Durham Regional Police Service or visit their website at www.drps.ca

(Source: Compiled with information from the Canadian Real Estate Association and chrismathers inc. crime and risk consulting)

What the heck?

Well here we are in the first week of February and all the media has to say is about how bad the ecomony is and the recession will be long lived and BLAH BLAH BLAH !!!! I personally am off to my best start ever and last week sold a listing on the very first day it went out on TREB with TWO, not ONE, but TWO offers within 24 hours. So what is all the whining about !!!! :)

I think no matter what the media has to say, there will always be people out there looking to capitalize on the extremely low interest rates and great prices. On the other hand, if you are thinking of moving up in this market, THIS IS the time. When the market rebounds, you can make a killing on some of these homes.

Yes I know that sounds mean but the bottom line is, real estate is safer than ANY investment you can make. I am sure you have all heard how your parents bought their homes for $16,000 and worked for pennies etc., we now those houses (some of them anyways) are worth 300 to 400K. Where on earth would you get that return on your money ..... NO WHERE .... except maybe a lottery !!! : )

So lets stop thinking its the end of the world and capitalize on this. It is simple. Any way you look at it, there are deals to be found, money to be made and money to be saved. The market isn't dead. The market is what we make it !!!!

Good or bad, people will always want real estate either for investments purposes or security in their futures and now is the time to BUY !!!!!

If I can be of any assistance to anyone, please feel free to call my cell at 416-300-3004 and I would be happy to provide you with a no obligation home evaluation or discuss what is available out there to buy and get out of paying rent and someone else's mortgage !!!

The Spring market is around the corner !!!!!

Who says moving is easy !

Well I can't believe it .... I list and sell homes for a living but have lived in mine for the past sixteen years and believe it or not, this week is the BIG MOVE ! Thursday May 3rd actually. I can't believe how stressful it is. I now have sympathy for all my clients when they are moving. Who would have thought you would accumulate that much CRAP and not know it .... I don't even know where to begin.

Finding boxes is one thing - packing them is another. Never mind the unpacking (ha ha). Oh well, I guess the fun is just about to start. Last time I moved, our patio table flew off on the 401 - of course, my brother was driving. Never a dull moment ! On that note, I better go pack some more of I will never be ready for Thursday. Anybody want to help me ??????????????????