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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 !!!

Selling Your Home in this Market

Well we all know the market has been busy the last few months and April is no different.  This week I listed a property in North Oshawa.  A nice detached home with single car garage... for $399,900.   To give you some idea, the week prior to this listing a home exactly the same listed for $399,900 the week before and sold for $440,000.

So I hold offers from a Thursday to Tuesday.... during that time another home on the street lists for $399,900 and doesn't hold offers and has a walk out basement as well... it sells in one day for $460,000....during the weekend, I get two bully offers which I recommend to my clients not to take and to stick with the game place and let me do my thing.   They agree and said, do your thing !

Tuesday morning comes and another home on the street hits the market at $399,900 as well.   Tuesday night comes and we end up with 12 offers... I do my job and my clients end up getting $480,000 Firm.   The house that went up the same day sells that night for $360K with a bully offer.

The moral of this story is ... stick to the game plan.  Bully offers are not always the best offer you are going to get.  Hire a professional that knows how to deal with multiple offers and get your Sellers the most money possible.  In this case, my sellers were the clear winners.  They obtained the highest price on the street at $380,000     They are thrilled, as am I.

It pays to market the property properly and have it get its maximum exposure and then play on this market with confidence.  The stronger the agent, the better the outcome.

Don't settle for less than you deserve.  Hire someone who knows their market and has integrity.  They will bring value to your home.  So in less than a month, the same street had all 4 houses come out at $399,900 and one sold for $440, one for $460 and one for $450 and then OURS for $480K..... the HIGHEST AMOUNT ON THE STREET.

If you or anyone you know is thinking on selling and would like to meet and discuss the best approach to take in this market, I would love to speak with them and do an in house evaluation.   It's fast and full of market information.  Make the call - it just make make you an additional $20 to $30K and what phone call isn't worth that !

On that note, Happy Selling everyone... have a great day !

1252 Ashgrove Crescent - Oshawa Home For Sale

*** OPEN HOUSE ***

Sunday April 3rd, 2 to 4 pm

1252 Ashgrove Crescent, Oshawa

Fabulous 3 Bdrm Home.  No Neighbours Behind.

Professionally Finished Basement, Designer Decor

Eat In Kitchen w/ W/O to fenced Backyard

Access to Garage

For more information,

Michelle Makos

Royal Hertiage Realty

Direct Line 416-300-3004

SELLING YOUR HOME FAST

9 SECRETS TO SELLING YOUR HOME

FAST IN A SLOWER MARKET



Selling your Home Fast

 Selling a house in a balanced real estate market can be a little more challenging. In times like these, it's not enough to simply list your home and wait; you actually have to sell your home. No one really wants to sell anything when the market is slow, however, it's not impossible to sell your house without a game plan and great marketing and a positive attitude.

1. Know your market

One of the most important things you can do to get your house sold is to learn your market, the value of your property and your competition. Most sellers operate in the dark, simply offering the property for the price they want, without regard to what other homes have sold for and are currently selling for. Undervaluing or overpricing your home can cost you tens of thousands of dollars.

2. Price your home right

With homes sales slowing, there's little doubt that selling for a good price in today's market is going to be tricky.  So if you try to ask as much for your property as your neighbour got a year ago, you are probably not asking enough but it all depends on finishes and extras.  Price your home conservatively by looking at similar houses currently on the market. Also look at the homes that aren't selling. Chances are those owners priced their homes too high.

If you really want to stimulate a sale, you should under price your property by just a little. Trimming the price by a few thousand dollars can generate more foot traffic and create a buzz.

3. Make your home presentable

Keep your house looking good at all times, repair things that are broken, and replace things that are rundown. Add a fresh coat of paint (neutral colors preferred), freshen up landscaping, trim trees, clean up clutter and remove personal items, so that prospective buyers can picture themselves in the home rather than seeing you there.

To guarantee a quick sale, consider using a professional home staging service but it is not always necessary. Your property must make a strong, positive impression. Staging a home is the cheapest way to make a house look different from your competition so it becomes the most memorable one that the buyer saw.

4. Market your home aggressively

In addition to using the multiple listing service, advertise in local papers and be sure to include beautiful photos. Each photo should showcase something interesting and unique about the property.  Use the power of the internet.  I personally blast my listings all over the internet and various tools to rank it higher in the search engines.  Real Estate Channel, TV, You Tube videos, professional photography and more. 

Place numerous signs and flags in front of your home so that your house is easily seen. Consider placing a well designed flyer in front of the house. Make sure the flyer has great photos of the property from all angles, inside and out, as well as a link to a web site where people can take a "virtual tour."

5. Be flexible with showings

It only takes one Buyer to get your home sold. Don't make your Realtor feel as though their request for a showing is an inconvenience.

6. Play up your home's best features

If you have fireplaces, make sure that you have fires burning so that there is a beautiful warm glow and the sound of crackling. If you have a gourmet cook's kitchen, have some great-smelling treats baking in the oven. Turn on soothing music. Set all lights and lamps if the home looks dark or feels heavy. Lighting is crucial. Do the same as if you were having a formal dinner party- the house will certainly sparkle.

7. Offer buyers incentives

A low price may be incentive enough for some buyers, but others might be holding out for something more. This is where creativity can really take over. Perhaps you can throw in a new set of kitchen appliances, or a 3-day paid vacation in Mexico. There are a ton of incentives that speak to the heart of the buyer; be creative and see which one speaks to yours.

8. Offer flexible terms

Often, the best way to sell a home more quickly in a buyers market is to adjust the terms of the sale instead of the price. While it may sometimes be necessary to adjust the asking price downward, or to negotiate a lower price with the buyer, sometimes offering help with with the closing date, will go a lot further.

9. The first offer rule

If you get an offer within the first few weeks, the tendency is for sellers to try and hold out for a better offer. This is generally a mistake. The biggest fish usually bite first, so keep in mind that your first offer will often be your best.

Lastly, keep a positive attitude!

Call Michelle Makos for a free home evaluation at 416-300-3004

You will love my energy !