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.

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.

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

37 Kimberly Drive, Whitby ~ SORRY IT IS SOLD FIRM

No More Fooling Around !!! This Fabulous Bungalow In Family Friendly Brooklin Is At An Unbelievable Price And Is Looking For It's Next New Owners. Meticulously Cared For By The Original Owners. 3 Bdrm, 50' Ft Premium Lot, Double Car Garage W/Access To Laundry Room On Main Floor. Fully Fenced And Private Backyard On A Pool Sized Lot. Open Concept. Everything Is On The Main Floor.  You Can't Beat This Price. Won't Last !

To book a showing on this beauty or to view the Virtual Tour, visit www.37Kimberly.com

today!   This home is waiting for you !  Call Michelle Makos at Royal Heritage for more details.

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

Buying in 2017

Happy 2017 everyone... just a quick message as the website has had many visitors over the past two weeks and I don't want anyone to get discouraged.  The listings have been few and far between over the holidays as most sellers are waiting for "normal" to return to the workplace and kids to be back at school etc.   Today, TREB released the market stats for December 2016 and it showed continued rise in prices and the second consecutive "record breaking" year in real estate.

So here is my advice, if you are looking to buy, stay on top of the listings you receive or if you see one and I didn't send it and want info, just ask me and I will find out what I can.   I think we are going to have another crazy year as far as prices.   I do not think the foreign market is going to affect Toronto or Durham like it did Vancouver, as a matter of fact, Toronto Real Estate Board took a poll with agents and only 5% felt the buyers were international.  This is strictly lack of inventory.

Prices rose over 20% last year which is a phenomenal return on your investment... and for many it was beyond 20%, especially in Durham Region where our prices were the most affordable.  So don't get discouraged, keep checking back and you will see more and more listings coming out over the next few weeks and by end of February, we will be in a FULL SWING OF THE BEGINNING of SPRING market.   Most people buy to close end of June when kids finish school.. so keep that in mind.  If you are more flexible in your closing, the better your odds of winning.  We need good strong offers, with as little conditions (actually NO CONDITIONS) as possible so have your pre-approvals done in advance and I can give you a couple mortgage brokers to contact if you want that done... I find mortgage brokers USUALLY give you better rates than your bank 90% of the time.

As far as home inspections go, most offers will need to be firm but now that most sellers are holding offers, I do have inspectors that will do a quick walk through with you prior to putting in your offer,  if you have concerns about anything and want to go in firm during the offer process, so that you can put your mind at ease.   Just remember, buying is usually BEST OFFER wins and it can save you a lot of headaches if you have an experienced agent who is protecting YOUR best interests and not the sellers.... it's a lot of money - make sure you are represented at the table !

As always, I look forward to hearing from you and I will be at the Market Outlook on January 31st,  with Chief Economists and CEO's from BILD and other real estate associations and will send you an update on what they predict.  So for now, hang on and get ready for another crazy year.... You are in good hands and Happy House Hunting !

Your Friend in Real Estate.

A little bit about our Company...

 Dreams do come True !   Passion ~ Energy ~ Professionalism

Here is a little bit about why and how we started Royal Heritage Realty Ltd.

One year later, two offices and 112 amazing agents.

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 !!! 

Market Review and Outlook Report for 2016

TREB Market - Year in Review - Market Outlook 2016 from Michelle Makos

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 !

41 Barnes Drive - Ajax New Listing - $349,900

Why Rent, When You can Buy?

41 Barnes Drive, Ajax - Detached 3 Bdrm. Brick Home

$349,900

Great Opportunity to buy a detached 3 Bdrm home in Central Ajax.  Close to all amenities.  Eat in Kitchen, Walk Out to Private Backyard, Living Room w/Fireplace, Unfinished Basement and Single Car Garage.

Showings start Thursday July 23rd, and offers will be accepted Monday July 27th, at 7 pm.   

Open House Sunday July 26th - 2 to 4 pm.  EVERYONE WELCOME.  

52 Delaney Drive, Ajax - SOLD OVER ASKING IN FOUR DAYS !

SOLD OVER ASKING - TOO LATE !

Prime Ajax Location

$379,900

Looking to purchase your first home !!!   Look no further... this fabulous gem is located in the heart of Ajax.  2 Bdrm Starter Home w/Renovated Kitchen and Bath.  Open Concept Finished Bsmt.   Tastefully Decorated.   A Real Beauty !

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.

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"