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

Durham Real Estate - The Do's, Don't and Must Know's

Hi Everyone !!

Just reaching out for my February words of wisdom or wishful thinking.. LOL... but here goes.

Market is moving in Durham, albeit slow it is moving.  Best priced homes are selling and those who still refuse to realize the market has definitely shifted and are trying to get more than the last Seller on your street are losing.   Homes need to be priced correctly to sell.   Realtors NOW must show their value !!!   Don't hire someone because they are cheap... or are promising you the moon.  Choose based on valued communication.  A Realtor is an advisor and negotiator.  The Seller is the client.  At the end of the day, Realtors must follow their client's wishes but an educated client on "truths" rather than "wishful thinking" will benefit further by far than a bunch of clouded dreams.

As a Buyer, even with the new financing rules in place, the rates are still low.  Keep in mind they will be going up again.  Waiting isn't going to help... if you want to buy this year.   Bond rates go up and usually interest rates follow.  I think the next hike will be summer time and not before so if you are wanting to buy, get a pre-approval done.  There are so many new builds coming up along Taunton in Durham Region... all these buyers of these homes will need to sell their existing home (or a good majority of them) and if the truth be told, the market has had a big swing since the frenzy of them buying those new builds, so now what do they do???   Can they close???   Can they sell their house for what they thought they would get (Odds are no).... I think we are in for a little bit of collateral damage here in Durham, unless these buyers have tons of cash or no mortgages on their previous home where they can shift some funds.

Another big thing I think we will see make a comeback is Vendor Take Backs... where the Seller is willing to take back a mortgage on their property so the Buyer can close on the deal.   Let's face it, someone who is retiring and bought years ago and has little to no mortgage and are downsizing, probably doesn't need all the money from the sale and can give a 2nd mortgage to the new buyers at a higher than bank rate but it will still get the buyer in the market and the seller will get a monthly cheque... just options.  A lot of Realtors don't even know how these work.   You need to work with agents that have experience and are knowledgeable. 

This past week my son put an offer on a home.   This will be his first home and fingers crossed it will all work out.  We were in multiples and did not pay over asking AND we had conditions.  Don't always be quick to drop all your conditions just because you are in multiples.  That was the case in 2016 and early 2017 but not necessarily the case now unless the comparables prove that this home is considerably undervalued.

I will say I have seen some "gong shows" out there when showing properties with my son.  One was a semi with a so called basement apt.  The agent had no clue what she talking about.   It was a sin that some poor buyer would walk in there and have the wool pulled over their eyes like that.  THAT IS WHY... YOU NEED A REALTOR you can work with that KNOWS the value, knows the questions to ask and is not afraid to speak up.  So what if it awkward .. or calls the agent to task, that is what you want.  Someone who protects YOUR interests.  I was shocked and saddened when I heard some of the responses.   It truly makes our industry look bad when there are agents that don't do their due diligence and educate themselves about the house and the market in the area they are selling.

I am happy to say I did call her out on a few things, she was not happy when we left and she promised to get back to me and never heard from her again.  BUT that home is now sold conditional and I wonder if that Buyer knows what they have bought.  Fingers crossed they do and that they used an agent to assist them that asked the right questions.

All I know is this, people will always either like you or not like you but when I am working with a client, they are my priority.  WE work together as a team.  Whether we are buyers or sellers.   WE make informed decisions.  I show them and back up my information.  They see what I see so they are not making blind decisions.  They are based on FACT.

I also am not writing this to get your business, I am writing this to educate everyone out there the importance of Realtors and there are good and bad in every business.  This is your biggest investment.  TRUST who you work with and KNOW that they are working for YOUR BEST INTEREST... not for a pay cheque.

The January stats will be out this week, probably Monday or Tuesday from TREB and DRAR and I will post them ... keep in mind, if you have any questions about real estate, you can always text, email or call me and I would be happy to answer or assist you.

Happy Super Bowl Sunday !!!!
Cheers
Michelle
Direct:  416-300-3004
www.HouseHunting-durham.com
michelle.makos@rogers.com

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 !!

Thinking on Buying Your First Home?

Getting Your Foot in the Door.

Like many would-be first time homeowners, you may be wondering how you can possibly afford to buy your first home. Even if you think you can't afford a home, these saving tips and financing strategies can take you there sooner than you think and turn you from a renter into an owner.

Develop a plan for saving

The first priority for you should be to develop a culture of saving. This not only helps you in budgeting and planning for the future, but also to satisfy banks and other lending institutions that you have a clear commitment to save.

Start an automatic saving plan

Saving for a down payment can be a financial challenge but it's a step forward to owning your dream home. Make saving automatic by setting up an automatic savings plan at your bank to regularly move a specific amount of money directly from your chequing account to a savings account. You'll be surprised at how much you can save and how quickly the "pay yourself first" approach adds up.


Borrow from yourself

The federal government's Home Buyer's Plan (HBP) lets you borrow from your Registered Retirement Savings Plan (RRSP) to help purchase your first home. You and your partner can each withdraw up to $20,000, provided it's not locked-in and the money has been in the RRSP for at least 90 days. You have to repay the loan in installments over the next 15 years to avoid a tax hit.

Take a holiday from tax

If you open a new Tax-Free Savings Account (TFSA), you won't pay any tax on earnings, which will help you compound your savings. You can contribute up to $5,000 a year to a TFSA, and save for anything you like, tax-free.


Review your mortgage options

Once you make the decision to purchase a property, the next choice is the type of loan to suit your budget. The two most common types of loans are the variable interest rate loan and the fixed interest rate loan.

You can now choose to pay back your mortgage over 25 years, instead of the traditional 20-year amortization period. This means you will pay more interest over the long term, but you can reduce monthly payments to get into your starter home. You can always change this later, once your income rises and you can pay your mortgage down faster.


Get into a starter house

Try to be as flexible as possible when choosing your first home. Unless you are status conscious, your first home doesn't necessarily have to be your dream home. You could settle for a starter home, which you can afford with a small down payment and easy mortgage installments. There are plenty of lower-priced houses out there in need of repair, with some "Do-It-Yourself" projects where you can add more value to the house. Just be careful not to buy a place where the cost of repairs will eat up any profits you might make when you sell.


In just a few years you will build enough equity in your starter home to make it easier for you to sell and move into to your dream home.

Buying your first home is an exciting process. After all, your home could be the largest asset you'll ever own. Being able to finance most of its cost will take a load off your back in the future.

Have a question?  Please don't hesitate to contact me.  I would be happy to answer it or assist you in finding an answer.  Buying your first home is an exciting process.   Happy House Hunting !

Getting Your Foot in the Door (First Time Buyers)

Getting Your Foot in the Door.

Like many would-be homeowners, you may be wondering how you can possibly afford to buy your first home. Even if you think you can't afford a home, these saving tips and financing strategies can take you there sooner than you think and turn you from a renter into an owner.

Develop a culture of saving

The first priority for you should be to develop a culture of saving. This not only helps you in budgeting and planning for the future, but also to satisfy banks and other lending institutions that you have a clear commitment to save.

Start an automatic saving plan

Saving for a down payment can be a financial challenge but it's a step forward to owning your dream home. Make saving automatic by setting up an automatic savings plan at your bank to regularly move a specific amount of money directly from your chequing account to a savings account. You'll be surprised at how much you can save and how quickly the "pay yourself first" approach adds up.


Borrow from yourself

The federal government's Home Buyer's Plan (HBP) lets you borrow from your Registered Retirement Savings Plan (RRSP) to help purchase your first home. You and your partner can each withdraw up to $20,000, provided it's not locked-in and the money has been in the RRSP for at least 90 days. You have to repay the loan in installments over the next 15 years to avoid a tax hit.

Take a holiday from tax

If you open a new Tax-Free Savings Account (TFSA), you won't pay any tax on earnings, which will help you compound your savings. You can contribute up to $5,000 a year to a TFSA, and save for anything you like, tax-free.


Review your mortgage options

Once you make the decision to purchase a property, the next choice is the type of loan to suit your budget. The two most common types of loans are the variable interest rate loan and the fixed interest rate loan.

You can now choose to pay back your mortgage over 25 or 30 years, instead of the traditional 20-year amortization period. This means you will pay more interest over the long term, but you can reduce monthly payments to get into your starter home. You can always change this later, once your income rises and you can pay your mortgage down faster.


Get into a starter house

Try to be as flexible as possible when choosing your first home. Unless you are status conscious, your first home doesn't necessarily have to be your dream home. You could settle for a starter home, which you can afford with a small down payment and easy mortgage installments. There are plenty of lower-priced houses out there in need of repair, with some "Do-It-Yourself" projects where you can add more value to the house. Just be careful not to buy a place where the cost of repairs will eat up any profits you might make when you sell.


In just a few years you will build enough equity in your starter home to make it easier for you to sell and move into to your dream home.


Buying your first home is an exciting process. After all, your home could be the largest asset you'll ever own. Being able to finance most of its cost will take a load off your back in the future.

Looking for a Pickering Townhouse?

The Wharf at the Bottom of Liverpool

As many of you know - Townhouses continue to gain in popularity across the GTA  and the same is true for the Pickering area.   Pickering townhouses offer first-time buyers an affordable entry point into the real estate market.   However, not all Pickering townhouses are entry-level units. There are more and more luxury townhouses available which is appealing to a larger audience, particularly empty nesters.  If you don't want to maintain the outside, there are maintenance companies that can do that.  Freehold or Condo Townhomes are really appealing to many different walks of life.

Are you searching for the townhouse of your dreams in Pickering, Ontario? The Canada-wide Multiple Listings Service® (mls.ca) can take days before the newest townhouses for sale, properties, and other real estate listings in Pickering appear...why not use www.Homes4Sale-Durham.com to see them first?!

Using my Preferred Buyer MLS® Email Notification Program, you can search a huge inventory of MLS® property listings and view information about homes that are currently available not only in the Pickering area, but in any region of Durham and most of all it is free to sign up for and these new listings are emailed to you as they match your search criteria.

Based on your criteria, I can quickly locate townhouses complete with pictures and descriptions. You'll be notified as new townhouses come on the market daily by email, allowing you to see the hottest new Pickering real estate listings first, before they're sold or appear on MLS!

It takes a skilled real estate professional to help both buyers and sellers to make the right decision. Michelle Makos is a RE/MAX real estate professional with years of experience and knowledge to help you in the find you next townhouse.

If you have any questions about any of the Pickering townhouses you find here please feel free to contact Michelle Makos. She will be happy to give you more information or to book a viewing. If you do not find what you are looking for please visit the Find Your Dream Home section. By filling-out the form, Pickering townhouses that match your criteria will be sent to your promptly.

I promise you to make your Pickering townhouse purchase a wonderful experience.  I look forward to it.