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Tuesday, July 12, 2016

BUYERS NEED TO KNOW !

New or Resale … you NEED a Buyer’s Agent

Buyers should be aware of their options so they are better able to protect their positions in this crazy sellers market or in any market for that matter. The role of the Realtor has been undergoing tremendous change over the past several years. Prior to 1991, all Realtors worked for the Seller in a Real Estate transaction. A buyer can now choose to retain representation with a Licensed Realtor and receive the same legal relationship that Sellers have received for nearly 100 years.
A buyer who understands their options will typically want to sell their Real Estate representative EARLY in the transaction in order to avoid potential conflicts of interest should they be making many calls to various Realtors (typically listing agents representing the Seller) or if shopping New Home sites (representatives are not necessarily Realtors – thereby having no accountability to the Buyer through RECO* or REBBA**).
With the advent of the Internet, many Buyers are conducting tremendous research on their own before looking at homes or contacting a Realtor. It cannot be understated that part of the research conducted from a buyer’s perspective, is the careful selection of the Realtor to represent their interests in the acquisition of property. A skilled Buyers agent will add tremendous value to the buyer during the drafting of the contract, during negotiations, and overseeing the contract to completion. If you’re going to spend the next 25 years paying for your new home… shouldn’t you spend a few minutes finding the right person to help make it all happen?
We know your rights … do you?
You have the right to remain silent
Anything you say while un-represented could be used against you
during negotiations;
You have the right to be REPRESENTED
If you choose NOT to be represented;
Then all Realtors will work on behalf of the Seller during negotiations.
To find out more, please feel free to contact me, or book a complimentary private consultation to discuss your Real Estate Goals. My services are guaranteed to ensure your complete satisfaction!




Saturday, July 9, 2016

JUNE MARKET - Still a Sellers Market

Check out the average selling price for a home in Durham Region.  Month to month we see steady increases.   Multiple offers still the norm and now with the Feds saying they are going to increase downpayments from 5% to 10% hoping to slow it down - I don't think that will work.   Many foreign investors are buying with more than 10% down regardless.  Who all this is hurting, is the young first time buyer who can't afford these prices.   How on earth are our children going to buy homes especially with the prices escalating at such a fast pace !

The government wants to slow it down but have had no problem in Toronto collection the double land transfer taxes on all these crazy priced homes as well as they haven't changed the allowable amount for first time home buyers to pull from their RRSP's, nor have they increased the tax credit allowable to the first time buyer !   Hmmmmm.

Here is the latest Durham Region Stats for June


So it would appear that Whitby has surpassed Ajax in pricing... which is interesting... but overall Durham is the the best bang for your buck in housing.   Some say we have been undervalued for years and this is just catch up, others say that it is the 407ETR extension that made Durham a more viable option to move to.

Whatever the reason,  Durham Region is on the move !  Thinking of moving, make sure you use a Professional who knows the marketplace.  

Happy House Hunting !



Tuesday, July 5, 2016

1219 County Rd 28 - Country Bungalow For Sale

JUST LISTED

3+2 Bdrm Country Bungalow w/Double Car Garage, Separate Workshop w/Hydro, Decked in Above Ground Pool, 2 Kitchens, 2 Living/Dining Areas and all this on a 100 x 150 Ft. Lot.
$429,900
Call for details

Friday, June 3, 2016

No Shortage of Buyers !!! May Market Watch Just Released


As so it continues !!!   
Toronto Real Estate Board President Mark McLean announced that there were 12,870 home sales reported through TREB’s MLS® System in May 2016. This result represented a new record for the month of May and a 10.6 per cent increase over the same period last year. In contrast, the number of new listings was down over the same time frame by 6.4 per cent.

Thursday, May 26, 2016

24 Bearwood St., Brampton

Brampton Beauty - 24 Bearwood Street - Just Listed

JUST LISTED - $499,900

Don't miss this beautiful detached brick home in a Prime Brampton location. Close to all amenities w/ a flexible closing.  Open Concept Living and Dining Area.  Master Bdrm w/semi ensuite.  Walkout to fenced backyard and more.  For private viewing call Michelle Makos, Royal Heritage Realty Ltd., 416-300-3004


For virtual tour - CLICK HERE

Tuesday, May 24, 2016

Monday, May 23, 2016

Pickering Home Prices Have Doubled Since 2006

If you bought a home in Pickering in Pickering and still own it, you have just won the lottery !   Prices of homes in Pickering have doubled since 2006...

April 2006 Pickering Sold Summary

Compared to the sold stats from April same time 2016

April 2016 Pickering Sold Summary

You can see an average detached home in Pickering now sells for $772,399... which is almost double from $368,859

That is 100% return on your investment if you sold it today... so anyone that thinks real estate isn't your best investment... I think this may change your mind.

Not to mention you can live it in and not pay Capital Gains tax when you sell it if it is your principal home.   Also with interest rates at an all time low, NOW is the time to invest... who knows how much the average home in Pickering will be in another 10 years... $1.4M doesn't sound that crazy anymore.... Happy Victoria Day Weekend and celebrate your best investment... Your Home !
Cheers to that.

Saturday, May 21, 2016

It's the Wild Wild West Out There

I have to say the market is going full steam ahead.   Was in multiples last night again for a client.  Once again we did not improve high enough to win BUT at some point, integrity has to prevail.   How much is too much ???   I seems to me the prices are moving way too high, too fast.

People say Realtors are making a killing this year.  Well as a partner in a
brokerage with over 100 agents, I can tell you firsthand, they are working ten times harder to put one deal together.   The market is lacking inventory and the buyers are at the mercy of the seller.  Agents are showing and writing offers that go no where and are back at it the next day trying again.    

In the heat of the bidding war, when do you say, "Ok, I think we need to walk".  I think I have said it several times this month... LOL... because I just feel like the home does not have that value attached to it.  If I wouldn't feel comfortable paying that for the house or selling it to my kids for that price, I certainly cannot advise my buyer to pay that.

At some point, you have to say, "It's your call" to them and let them decide how much is too much.  

Has Durham Region been undervalued for too long and we are just paying catch up to York Region and GTA?   Are we now just being seen as the closest pocket to Toronto that is affordable?   I would like to think so because nothing else seems to justify this huge spike in prices.

In 2006 a detached home in Pickering the average price was $344 approx.  In 2016 the average price for a detached home in Pickering is close to $700K... so you have a 100% increase in value in 10 years.   Prices have doubled for conversation sake.  

If only we knew then what we know now !  :)   So do you think in 10 more years, the average house in Pickering will be 1.4M.... Hey it doesn't sound so crazy anymore !

Will the market slow down?   I hope it balances out.  A market like this is a slippery slope.  When it is balanced, people can have home inspections, negotiate sale prices etc.   Right now, it is the Wild West out there.  Seems like common sense is out the window and it is just "pick a number" ...

Agents need maybe to list higher to stop all the multiple offers.  That might put the brakes to this... Who knows... But at least I know I can sleep at night because I am not letting my clients pay some of these ridiculous prices.....

Happy House Hunting Everyone..... May the best offer win !  

Tuesday, April 19, 2016

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.


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🏡 Real Estate Reality Check:

🏡 Real Estate Reality Check: : Toronto & Durham Real Estate Market Update – Prices Down 21% Since Peak