Thank You Pickering and Community Votes

 

Michelle Makos, Broker ~ 968 Essa Crescent - #Pickering #luxury #lakevie...

Stunning Custom Built 5 Bdrm. Showstopper !! Enjoy The Perks Of A Waterfront Vacation Lifestyle Combined With A Luxurious Home Less Than 30 Minutes To Dt Toronto. You Can Have It All!! Step Out Your Door And You Can Bike On The Waterfront Trail Through The Conservation Area, Laze On The Beach And Kayak Or Skate. It's Paradise In Pickering! This Rare Waterfront Home Featuring 4188 Sq. Ft. Of High End Custom Finishes W/ Breathtaking Views

For Private Viewing call Michelle Makos, Royal Heritage Realty Ltd.  416-300-3004

8369 PEFFERLAW - SOLD FIRM

 SORRY IT'S TOO LATE !!  This #Pefferlaw Property is SOLD FIRM

Thanks to all those who showed it. 

23 Gatesgill Crescent ~ North York Bungalow for Sale

$999,900 - Offers to be reviewed Sunday October 30th.  To arrange a viewing of this home, contact Michelle Makos, Royal Heritage Realty at 416-300-3004.  

PRIME NORTH YORK LOCATION

3+1 Bedroom Brick Bungalow

8369 Smith Blvd., Pefferlaw (Georgina) - NEW LISTING

 Peace and Serenity on this 11.8 Acres of Country Living.  This Piece of Pefferlaw Paradise Features a Beautiful 3+1 Bdrm. Family Home w/ Wrap Around Porch.  Enjoy stunning sunsets or some pond hockey in the winter.  Bring all your toys. This Season Round property has it all.  Spacious Main Floor Area perfect for entertaining.  Large windows to enjoy the views.  Large Primary Bdrm w/Spacious Master Ens. inc. Sep Shower & Jacuzzi Tub. 

SEE VIRTUAL TOUR

For more information on this listing - Contact the Listing Agent, Michelle Makos, Broker - Royal Heritage Realty Ltd.  416-300-3004 ... Call or Text

8369 Smith Blvd., Pefferlaw - 11.8 Acres with 3+1 Bdrm Family Home for Sale

JUST LISTED - 8369 SMITH BLVD.  GEORGINA

$1,199,900

334 Painted Post, Dr., Scarborough - SOLD OVER ASKING

119 Showings, 19 Offers and ONE VERY HAPPY SELLER !!  Let me help get you moved.  I will always work for you.  You are my priority, not a pay cheque.  

Call today to set up a meeting, my direct cell is 416-300-3004.  Let's talk about getting you moved !

Move with Makos !

334 Painted Post Dr, Toronto - JUST LISTED

 

1927 Pine Grove Ave., Pickering - Just Listed

Rare Opportunity !! Prestigious West Pickering Neighbourhood. All Brick 3 Bdrm. Semi With Loads Of Natural Sunlight. This Well Maintained Beauty Is Clean And Move In Ready. No Pets. Non Smoking. Open Concept Main Floor. Garage Access From Front Foyer. Perfect For First Time Home Buyer. New Fully Fenced Backyard W. Lush Garden & Deck. Close To Rouge Valley, 401 407Etr And Go

AND JUST LIKE THAT ... APRIL 2022 COOLS DOWN

Well the numbers for April are about to be released and the sales are way down from the previous month. If you have been watching the listings you will notice that some are still selling over asking but many are not. Some are even relisting higher and taking offers any time. We are at a turning point. The interest rates at the Big 5 Banks are all over 4% now with a Bank of Canada prediction of another .5 to .75% bps.



That in turn will cause the banks to hike again. We are in for a rough ride over the next little while. Many Sellers are holding out for those January and February numbers and unless you have a very unique and over improved property, don't count on it. We are seeing deals that were done in the peak of the market, not closing now.

Some buyers were advised to buy first and bought when the market was at an all time high are now trying to sell their price and not seeing the same value that they thought they would get as little as 2 months ago. The appraisals on some are coming in low and buyers can't make up the difference. This is going to be big hiccup moving forward. No one wants to catch a falling knife.

I do not see the market picking up in the near future at all... if anything I think it slowing down and although it may be great for First Time Home Buyers (if they can get approved at these higher rates), it may also cause a lull as the payment on a $800,000 with a $200,000 down, not including property taxes, gas, inflation, groceries etc.... is well over $4,100.00/mo. So it will in turn effect home prices. Rates go up, prices will come down.

Then we have all these buyers that bought the past 1 year or more with no conditions. Buying a home in winter with no home inspection and now that the snow has melted and the Spring is in the air, they are seeing all kinds of faults in the property. Leaks, Damage, Mold, Imperfections that they maybe didn't notice in their 15 minute walk through/showing (eye roll).... yes, during the crazy times, we have 15 minute appointments for people to make decisions on the largest investment of their lives.

Sadly many of these purchases are now showing some buyers remorse and even more so when they are seeing properties sell for less or not selling at all and sitting when they paid considerably more. Sales Comparison More to support future interest rates hikes:
https://www.canadianmortgagetrends.com/2022/04/bank-of-canada-prepared-to-raise-interest-rates-forcefully-if-needed/   ( You should check these numbers out )


Then I see messages like this: If you are thinking on selling your home, be prepared for it not to sell in multiples over asking now. Those days are slowly disappearing and the days of houses being on the market longer and negotiating prices is more the norm now. Buyers are waiting to purchase... the only ones really buying right now are the ones that were pre-approved back when the rates were much lower and have it locked in for 90 to 120 days. After that, they need to reapply and their purchasing power will go down due to the higher rate. In any market, people will still have to buy and sell homes.

What I am saying is the market is definitely swinging away from a Sellers market. The April Market Watch is showing much of the same thing. GTA Home Prices Cooling from Hot Spring 2022 - HouseSigma Days on market have doubled, Prices and Sales down .. .the further out you go, the further the reductions are starting to happen. I think this is going to be a rough ride for a couple years until we get inflation and interest rates under control.

Right now this is just the early stages. If you are thinking on buying or selling, I would love to have a more personal conversation with you to let you know what your options are and how to market your property to best service your needs. If you are buying, timing right now is everything. Get a pre-approval done (I can send you to a broker who can assist you without leaving your home) and lock in the rates now because more hikes coming. June 1st we will probably see BoC raise another .50 to .75 bps. I hope this gives you a little insight to what we are seeing happening and if you need a sold price or set up for listings, just email and I will be happy to get you set up with what you need. Happy House Hunting and Happy May !!!

Cheers, Michelle
Your Sometimes Too Honest Real Estate Broker 

 

21 Abraham Crt., Ajax - $949,900

Hitting MLS Tomorrow.. Check out this beautiful home. 4+2 Bdrm. Finished Basement, Swim Spa, Open Concept and more. Take a peak. For private Showing call Michelle Makos, Royal Heritage Realty Ltd.