Oshawa - Sneak Peek - Coming out Thursday

$229,900

Perfect Home for First Time Buyer

3 Bdrm Semi w/ Detached Garage ~ Finished Bsmt., Renovated Bathroom, Hardwood and Close to Transit and Schools

OPEN HOUSE - SUNDAY AUGUST 2ND - 2 PM TO 4 PM

609 Devon Avenue, Oshawa

Coming Soon to MLS - Look for it on Thursday 

Offers will be received Tuesday at 7:00 pm. 

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 !

My first published article in REM Magazine ! Thank you !

http://www.remonline.com/can-this-ride-continue-in-the-gta-real-estate-market/

Agree or disagree?

Feel free to share.

1210 Radom Street, #701 - South Pickering 2 Bdrm Condo

JUST LISTED

$219,900

2 Bdrm Condo in Prime Pickering Location.  Bayly and Liverpool.  Walk to GO Station and Pickering Town Centre.  Huge Balcony.  Galley Kitchen with Dining Area and Living Room w/Fireplace.  Includes Fridge, Stove, D/W, Washer and Dryer.  Won't Last.  Call me for a Private Showing.

SEE VIRTUAL TOUR

Pickering Freehold Townhouse For Sale - 323 Sparrow Circle

OPEN HOUSE TODAY ~ MAY 24TH - 2 TO 4 PM.

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

Freehold Townhouse for Sale in Pickering - NEW LISTING

Well if you are looking for a way to get into the real estate market, this may be the one.  This beautiful 3 Bdrm Freehold Townhouse (no maintenance fees) in Pickering goes on the market Tuesday.   Brand new carpet on stairs and bedrooms, finished basement, freshly painted, includes all appliances and very tastefully decorated.

Public transit and amenities close by.  Schools and parks as well.   This fantastic neighbourhood is near Altona/Finch.  No disappointments here.   Priced to sell at $399,900.... call to book a showing.

TO SEE VIRTUAL TOUR - CLICK HERE

April has been crazy !!! May is looking to be the same.

The real estate market in April was INSANE to say the least.  Multiple offers were the norm.  Homes selling at record prices and Buyers seeing their dream homes stolen out of reach because of increased selling prices and bidding wars.

If you are considering buying or selling right now, I cannot stress the importance of finding a Realtor that is experienced and local.  You will have a better chance of maximizing your leverage with a full time experienced local agent.

Sellers should get pre-inspection reports so they can get multiple offers but FIRM without conditions.  It saves any apprehension later after the fact.  For a few hundred dollars, you can give a copy to Buyers agent so they adjust their price and conditions in a multiple offer situation.

I have had two listings this past month sell for 108% of asking price, one sold conditional on sale of Buyers property, two first buyers winning in multiples going over asking and firm, and two selling at 100% of asking price.

If you home is priced correctly, it will sell - get a proper photographer that is professional with a wide angle lens that can show the true potential of your property.  I see some many rotten photos out there.  C'mon guys, you are professional, show your value !!!   My clients are treated no different that I, myself would expect to be treated when selling the biggest investment of my life,

It comes back to you by way of referrals.   Trust me.   So with that said, if you thinking of selling or buying, do your homework... find an agent whom you can trust and work with .. who understands your needs, your wants and who will work to maximize your investing dollars !

Have a super weekend everyone !   Real Estate is booming.  Best investment you will EVER make.   Cheers !

5050 William Street, Claremont Home For Sale