Happy 2010

Happy New Year everyone !!!! We have a clean slate and a fresh start to what I think is going to be a brilliant year in real estate. The market is healthy, sales are up and interest rates are still low. What more could a buyer or seller ask for !

I do see the interest rates slowing increasing over the course of the this year, so if you are still sitting on the fence, now is definitely the time to bite the bullet and get searching for that home of your dreams.

If you are considering selling, I foresee a Spring market with a lot of inventory. If timing really isn't a major issue in your decision, consider selling sooner rather than later because you will have less competition and who knows what the interest rates will be down the road and how they will effect the house prices.

Some interesting tidbits, you might want to keep in mind:

The non-refundable Home Renovation Tax Credit (HRTC) is based on eligible expenses for work performed or goods acquired after January 27, 2009, and before February 1, 2010, in respect of an eligible dwelling, pursuant to an agreement entered into after January 27, 2009.
I have attached the link for more information here:
http://www.cra-arc.gc.ca/nwsrm/txtps/2009/tt091103-eng.html

As far as Land Transfer Taxes, please find a link to a calculator to help you figure it out below:
http://www.torontorealestateboard.com/LTT_splash/ltt_calculator.htm

Latest Market Watch (December 2009) released from the Toronto Real Estate Board is also an interesting read if you are considering making a move.
http://www.torontorealestateboard.com/consumer_info/market_news/mw2009/pdf/mw0912.pdf

And don't forget, if you have any real estate questions that you need an answer to, please don't hesitate to email me at michelle.makos@rogers.com and I will do my best to get it answered for you quickly and efficiently.

On that note, have the best year yet and I look forward to working with you in the future.
Cheers
Michelle

1876 Bowler Drive - New Listing

Hi Everyone,

Just wanted to let you know of this great new listing I have in Pickering. This one is sure to sell fast !!!! 3+1 bdrm detached home on a ravine lot. Nothing to do here but move in and enjoy the 2 fireplaces, completed renovated/updated kitchen, professionally finished basement and a backyard to die for !!!!!! All this for $340,000. You can walk to schools, shopping and public transit. Click on the link to view the inside photos.

Not to mention the market is crazy right now. Houses are selling over asking !!! Multiples everywhere. What happened to the dreaded R word !!!! I guess that is over !! Thank God !

With the leaves changing colours and the winter slowly creeping in on us, don't think now isn't as good a time as any to list your house. I have buyers and they are all out looking with a vengence for that next new home.

So if you are considering making a move any time soon, give me a call for a free no-obligation market evaluation of your home. You might be pleasantly surprised.

Have a great day and check in every once in a while to see whats new in Durham Region.

Be Thankful !

Many Clients Are Asking: Should I Purchase My Home Now or Wait for the Market to Stabilize?

Many people are debating whether they want to buy a property now or whether they should wait. They are getting mixed messages from the media about the market conditions and the state of the economy. Reports are indicating that the real estate market is rebounding. However, we are still hearing negative news about businesses folding and job losses. So is now a good time to buy?

The decision whether to buy a home now or wait is very tricky at the moment. On the one hand you have very low mortgage rates as the Bank of Canada had cut the interest rate several times in the last few months to try and get the banks lending again. Deals as low as 2.75% are being advertised to entice new customers into the market and get the chain moving again. Also, property prices have dropped in the last year and there are many good deals to be made.

On the other hand, there is still the question whether housing market prices will hold or drop further. Potential buyers are wary about taking on such a huge borrowing to find that the dream house they have just bought may be worth appreciatively less in six months' time.

House prices are cyclical. A low market is always a good time to buy even though it may be several years before the market rebounds. The property market will rebound. If you are in a position to buy a house and can afford the repayments, buy now. Waiting to buy could result in paying much higher prices in a rising market.

Are you really ready?It is also important to consider how long you will be in the home that you are about to purchase. Once you buy the home, it may be very difficult to resell right now. If the market continues to drop and you end up moving and selling in a year, you may have been wiser to wait a bit longer. So that is something that you want to make sure that you consider when making the decision to purchase a home.

Of course, if you have a long-term plan to be in the home, the fluctuations and potential decrease in value in the near term doesn't need to get you down, as the only price that matters is the price you are able to sell for when you need or want to move.

Another thing that you need to think about is if you can afford the home that you are considering buying. While prices have dropped recently, you want to make sure that you find a home that is going to fit your budget. As a precautionary measure you should also budget for the fact that the cost of living might rise even further, and that being able to afford these increases will be important.

If you have the funds available for a down payment and you are eligible for a mortgage, and feel comfortable about your job security, and currently meeting the rising costs of living fairly easily; then the time is probably right for purchasing property. It is still a buyer's market, so find your dream home, negotiate your best deal and jump in. Buying property now is one of the best times in the last hundred years to get a bargain !!!

If I can help in any way, please don't hesitate to contact me.

What a summer !!!

Well, here we are, half way through August and what a summer it has been ! I certainly have no complaints. This has been my busiest July and August ever. Homes were selling faster than even and in multiple offer situations !

It seems the market has shifted. It isn't a buyers market anymore. I would say it has definitely stabilized and if you have a good home and it is priced right, IT WILL SELL !!!!

Read the mid month August report for sales from the Toronto Real Estate Board if you don't believe me !!

http://www.torontorealestateboard.com/consumer_info/market_news/news2009/pdf/nr_mid_month_0809.pdf

It has been a great summer (other than the weather but it would appear that even that is on the upswing !)

September is around the corner and the kids will be going back to school and the fall market is looking healthier than the Spring market. If you want a market analysis done, please don't hesitate to give me a call and I can bring you up to date on all you neighbourhood sales and what is on the market currently.

I hope everyone is having a safe and happy summer and if you have a local business that you would like me to link with my website, please feel free to email me at michelle.makos@rogers.com and I would be happy to add it. I support all local Durham businesses. Together we can make a difference.

Have an awesome summer and I will catch up again with you all soon !

Cheers

Michelle

Well its been a while ! : )

Hi Everyone,

I know I haven't updated my blog in a while and it is funny because I thought no one read it !!! Much to my surprise, this week at least 3 people mentioned to me that I haven't updated my blog lately so I figured on a rainy Saturday evening, I should take a moment a play catch up.

The market you ask???? Actually for me, this year has been great... no complaints at all. Steady listings and buyers and more than enough to keep me busy.

The weather has been awful so far. What is up with this crappy summer weather. I converted my pool to saltwater this summer and have only used it maybe twice. I will admit the hot tub is getting used alot tho !!! : ) There has to be some sort of relaxation after a hard days work.

I have been working on my website regularly and trying to keep the information up to date as well my photo. There is nothing worse than these Realtors that have photos from 10 years ago !!! lol.

On a whole, the market is moving along at a great pace. The lower priced homes (under 300K) seem to be moving faster than the higher priced ones but I must say if they are priced right, they ARE moving !

The interest rates are amazing and the buyers are looking to cash in on them.

At first it seemed to be a buyers market and they had the upper hand but now it seems the market is shifting a wee bit and the sellers are a little more in control due to the shortage of well priced nice homes on the market.

My backyard is almost finished and I should update you with some photos soon ... as well as renovated one of my bathrooms. What a nightmare !!! You don't realize how much you use that room, especially when it is under construction and you can't ..... : )

It should be completed soon, granite countertops should be arriving soon and the glass shower doors and when it is all done, I will post a few pictures of that too.

For now all I have is my new headshot and new business cards on order .....

If I can assist you in any of your home buying needs or selling questions, please don't ever hesitate to contact me. I would love to chat with you either over the phone or via email. My email address is michelle.makos@rogers.com and I am always just a click away.

I hope you are enjoying your weekend thus far and I think I am going to go pour myself a glass of wine and enjoy probably the first Saturday night I have had off in a while. Hot tub anyone?????? lol

Take care, stay safe and remember

Let MAKOS Move You !!!!

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 !!!!!

Is the roof of the housing market caving in????

Well I was looking through the articles on Durham's ecomony and found this very interesting one that pretty much hits the nail on the head. It is definitely worth the read ! It was posted December 19, 2008.

If the cup of coffee you were drinking on Tuesday morning didn’t wake you up, the headline on the front page of the Globe and Mail most surely did.

The headlines screamed “Housing sales hit 20-year low as real estate slump widens” followed by huge sub-head noting an 11 per cent decline in prices and a 44 per cent drop in Ontario housing sales in large RED print, based on the December 15th press release issued by the Canadian Real Estate Association.
The only problem with the article is that it is incorrect. In the third paragraph, the author writes “Between May and November, the average price of an existing home in Canada fell by 11 per cent, matching the drop in 1990 that coincided with the onset of a painful recession. Housing prices would go on to fall about 20 per cent and it would be another decade before they managed to make new highs.”

Unfortunately for the Globe, there was no 20 per cent drop. According to the Canadian Real Estate Association, the Canadian average price actually rose approximately 15 per cent from 1990 to 2000. There were three moderate dips in housing values in the decade 1990 (3.4 per cent), 1995 (4.6 per cent), and 1998 (1.5 per cent). Average price in Canada has climbed consistently since 1998. It’s also important to note that the decline in national housing values have typically been modest and have bounced back almost immediately. Finally there are no two consecutive years of falling prices.

While the national housing picture has been a picture of stability, average housing values in Ontario have seen slightly more volatility over the past 27 years. There have been six decreases in average price noted with five of the six occurring between 1990 and 1996. Prices fell 17 per cent during that time frame, after climbing a phenomenal 70 per cent between 1986 to 1989 ($107,158 to $182,186). Residential average price has been on an upward trajectory since 1996 the longest uninterrupted period of growth since 1980.

Based on our comments, the Globe and Mail has printed a correction in this morning‘s newspaper, page A2

So now that the folks at the Globe have been straightened out, we shift our focus to the challenges today’s economic realities are bringing to the housing market. Truth be told, there is not a sector - not even gold - that has not been hard hit by economic turmoil in recent months. Real estate has held up remarkably well, in light of current market realities. We need to see some economic stability - and a recovery in consumer confidence levels - before we can expect housing markets to rebound. Job security will be key.

Inventory will also play an important role. If inventory levels subside, we could see stability return to housing values. To illustrate, new listings fell seven per cent in the Greater Toronto Area in November. If this trend continues, and existing inventory is absorbed, housing values may remain relatively stable in the year ahead.

I’d like to conclude today’s communication with the story of a hot dog vendor in Chicago who sold the very best hot dogs by the side of the road. His business was booming, people loved his hot dogs, and his business steadily increases month after month. The man loved his business and believed in the need to provide great food at a great price.

This man was so busy advertising and selling his hot dogs and making lots of money, that he didn’t even have time to read the newspaper or listen to the radio. Consequently, he never heard a word about a predicted recession or the need to cut back to save for the potential economic slowdown. As long as he continued to offer his delicious hot dogs, his customers bought them. He kept selling, and they kept buying.

Then one day his college educated son told him that an economic recession was surely coming. His son told him that people wouldn’t have enough money to buy his hot dogs. The successful hot dog vendor believed this, so on his son’s advice, he cut back on his advertising. Additionally, he started ordering less supplies and product, because after all, people would be cutting back soon.
He even went so far as to take down many of the billboards that lead to his roadside stand. And sure enough, people stopped coming to him. People stopped buying his hot dogs, and he eventually went broke.

Then he thought to himself. “How smart my son is in predicting this.”

Don’t be influenced by what you read in the newspapers or hear on your television. It’s true that market conditions have changed, but human nature has not. Real estate is one of the largest investments people will make in their lifetime. It’s also one of the safest. Get out and spread the word. If you bought a home in 1980 worth $67,000, that property is valued at over $300,000 today an increase of 350 per cent and the profit is capital gains exempt. It’s no wonder that Canada has one of the highest homeownership rates in the world, at close to 70 per cent.
No matter what the investment community will tell you, you can’t live in your mutual fund.

Sincerely,

Michael PolzlerExecutive Vice President and Regional DirectorRE/MAX Ontario-Atlantic Canada Inc.

IT'S OVER !

Well I did it !!!! I am finally living at the new place ! The pool is up and running and all is good !
Work is extremely busy with a great Spring market and the houses are moving rather quickly right now.

I did jump in and get that Bluetooth after all and upgraded to the Blackberry Pearl .... I guess you always thought I was just sitting at the computer when you get those quick reponses - NOT !!!!! But at least now, I can be driving and not be reaching for that ever ringing phone. It does make life a little easier. It frees up your hands for writing now !!! LOL.

I must say finally getting settled has taken an extra bit of workload off of my plate. I hate to admit it but "Thank God for the movers !" I could have never moved us over here .... I think I would still be back at the old place.

It is sooooooo peaceful here.. in the morning I sit out on my porch and the chipmunks come and sit with me. Wow, I have to admit, me sitting with chipmunks sounds crazy but it is really a nice feeling. Instead of listening to police sirens and noise, I hear the birds. It is like my cottage in the City so speak.

I will definitely be having my buddies over real soon, just let me get a few more boxes unpacked and little more done (work wise) and then it is POOL PARTY time !!! Hope to see you there.
Have a great week everyone !
Cheers,
Michelle

THE MOVE IS ON !!

Well everyone, the move is set for Monday and then just a quick clean up of the old homestead and we are off to greener pastures !! I am looking forward to it. I think change is good for everyone ....... once I am settled in, I will have all my friends over for a pool party and a laugh. The market is pretty busy right now and everyone seems to want to move !! Which I think is a good thing. Interest rates went up this past weekend so if you are thinking on making a move, get pre-approved and lock in your rate now. You never know what another 90 days might hold. The new house is moving along. The hardwood floors are in the upstairs at least. Didn't get the main floor done but the wood is there, so that is a good thing. Hopefully all will go well and I will be able to come on here next week and fill you in on the last of the moving details. As for Sutton, its great !!! Should have done it sooner. What a great group of people work there and we all seem to really get along. So all in all, I can't complain. Have a great weekend everyone - I hear the weather is going to be great ! Cheers Michelle

I CAN'T BELIEVE IT !

Well here I sit at 11:02 pm on a Monday night and am no closer to moving into my new house than I was a week ago. So much for the brilliant idea of bridging and not moving out in one day. I think the more time you have to move, the less you do. Now we are getting down to the wire and if you walked into my old house, you wouldn't think it was different from any other day other than a FEW and I mean FEW boxes.

I should of thought of this from a Realtor's point of view. Who the heck moves in their busiest season. As anyone in real estate knows, the Spring market is huge !! What do I do - I decide to move. DAH !!!!!!!!!!!!!! There is something to say for October and November closings. (lol)
Now I laugh.... let me tell you, I wasn't laughing yesterday. Not only was I supposed to do the shelf paper in the kitchen cupboards, I had an offer on the go and it was above all, MOTHER'S DAY.

And did I mention, I am a mother too !!!!!!!!!!! Where is my holiday in all of this ! Not that I want a holiday, just a half hour without my Blackberry buzzing would be nice. But I guess I shouldn't complain. Business is good and the market is healthy and I lucky to have calls to answer . So on that note, I have a great listing in Whitby and another one coming up this week in Pickering, not to mention a potential one in Bowmanville. You see, I get around (ha ha)

I guess in between all this, I better get some packing done because the end of the month will be here soon and then I am in real trouble. Stay tuned for my next adventure ... blue tooth?
To get one or not to get one? What do you think? I can't tell you how many times I have said "hello" to someone who wasn't talking to me but was talking on their bluetooth and now I am considering getting one !!!

Will I or won't I?????????????? The jury is out.

WELL .... I'M STILL ALIVE !

Sorry, its been a while but anyone who has moved can relate !!! I still don't know where anything is or what to do next but I will manage. It's back to business this weekend. The blackberry is buzzing with new Spring business. It is amazing what a little nice weather can do for people who are considering a move. Having just done it first hand, I can tell you it is a big decision. I am thrilled with my new home. It is like living in the country but still close enough to shopping, that I don't feel like I am living on Green Acres (not that anything is wrong with Green Acres !). As long as I don't have to climb a telephone pole to make a phone call - it's all good !!!!! Off to a listing presentation but stay tuned. The unpacking is next !