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 !

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 St., Claremont - NEW LISTING - Pure Luxury $1,250,000

SPECTACULAR 7 BRDM ESTATE HOME IN CLAREMONT

Luxury At It's Finest !! This Custom Built 2 Family Home On .91 Of An Acre Features A Ravine Lot, A Stream And Over 6,000 Sq. Ft. Of Absolute Glory ! Hardwood Floors, Huge Deck, Scarlett O'hara Staircase, 7 Bdrms, 7 Bathrooms, 3 Kitchens, Pocket Doors, Sunken Living Room, Separate Living Space For Nanny, Inlaws, Etc. Granite Counters, 2 W/B Fireplaces, 3 W/O's Parking For 10 Cars. An Absolute Showstopper ! Too Many Features To List. A Must See !!!!!

Extras:3 Stoves (1 Gas/2 Electric), 3 Fridges, 2 B/I D/W, 2 Washers, 2 Dryers, Pool Table, Tanning Bed, Ride On Lawnmover, 2 A/C, 2 Hi Eff Gas Furnaces, All Electrical Light Fixtures, All Window Coverings.

SEE VIRTUAL TOUR - CLICK HERE

1875 Malden Crescent, Pickering Home For Sale - $549,900

Relax in your backyard with a two tiered deck ...

3+1 Bedroom Sidesplit with all the finishes.  Hardwood floors, New Windows, Furnace, A/C, GDO, Renovated Kitchen and Bathrooms

Located in Family Friendly Glendale of Pickering.  Close to transit, schools, parks, shopping and more.

Renovated Kitchen with walk-out to upper deck with new Stainless Steel Appliances and Counter top.  No Disappointments here.

SOLD FOR 120% OF ASKING PRICE - MULTIPLE OFFERS

Here is an interesting one.   December 2014 I sold this property for $499K firm and the deal fell through on closing due to buyer not obtaining financing.  Re-listed the home in the same condition for the same price and held offers for 5 days.   Received multiple offers and ended up selling for $600K firm.   Sellers were ecstatic to say the least.   Market is unreal right now due to lack of listings and so many buyers out there looking.   If you are thinking on selling your home, do it now.  

If you would like a free home evaluation for your property, please don't hesitate to contact Michelle Makos at 905-831-2222 or 416-300-3004.

The market is smoking hot !

6 Columbus Rd W. - Beautiful Victorian Home w/Side Apt.

Perfect for additional income or extended family.  This home is full of charisma. Hardwood floors, 1/2 acre lot on the four corners of Columbus.  Crown Molding, Inground Swimming Pool.  2 Fridges, 2 Stoves, 2 D/W., Washer and Dryer, Pocket Doors, 3 Fireplaces and more.  A Must See !!!

$699,900

For a private showing or more information, please call Michelle Makos at Royal Heritage Realty Ltd at 416-300-3004

Open Houses - Do they sell your home?

Open Houses ~ Do you think they sell your home or do you think Realtors use

them to find clients?

I may be stepping on some toes here but I, personally do NOT think doing Open Houses sell your home.   Not that I won't do them if a client wants them but I can think of many reason why they are a waste.

The majority of people coming into Open Houses ~ don't even know the price of the home walking in it.  The agent is trying to get a name and phone number/email to protect the privacy of the Seller and really, do we even know if they have a job?   What about security issues?  What about an agent in busy open house - can they properly monitor who and what is going on?  I have to wonder.

Open Houses are a personal preference.   Some people think agents should earn their money and sitting in their home for two hours on a weekend is showing you are working... but I personally could spend two hours being way more productive marketing your home online and locally than a two hour window of "Lookie Lou's".

I have seen many people walk up the driveway at Open Houses and they are either just running errands and nosy or they live on the street and want to compare what your home has with theirs... but honestly, in my personal opinion, the best showings are from agents that bring their clients through.  They have pre-approved them in most cases, given them the information from your listing and has a working rapport with them.

Opening your doors to strangers to walk in and out of your home to me, is not only dangerous but very rarely do homes sell from Open Houses... and the truth of the matter is, even if they have an agent and the agent sees there is an Open House, they will tell their client to pop in.  That is fine but even if they like it, would it not be in the buyer's best interest for THEIR agent to see the property... more often than not, they go back again with their own agent prior to doing up an offer.

So that is my take on Open Houses.   I believe there are all different reasons agents may like them but is it for their own business or for their clients??? 

And let's admit it, how many of us have been driving past a house and see there is an "Open House" and aren't in the market to buy a house but stop .. just because, we like the street or we want to dream or we want to see how it is decorated for ideas... LOL... :)    I can't say I haven't done it too....  

And truly in a market like this one, where inventory is low and listings are selling in days not weeks, are they really beneficial?   If you are considering selling your home in the next few months, remember Spring market starts in February, so list sooner rather than later.   If you would like a free home evaluation or even just a face to face chat about selling (no pressure), feel free to call me at 416-300-3004 (direct) or email me at michelle.makos@rogers.com and I would be happy to speak to you further.

Have an awesome weekend everyone and enjoy the 2015 Housing Market, it is going to be a good one... I can tell.    Cheers !  

BIG CHANGES !!!

I just wanted to let everyone know that I have officially resigned from Re/Max First Realty Ltd and as of December 1st, I have partnered up with some established and well respected colleagues and we are very excited and proud to have opened our own Full Service Independent Brokerage serving Durham Region and the Greater Toronto Area.

Royal Heritage Realty Ltd. is a dream come true for us.  There is so much we can offer,  that is beyond anything the big brands can do.  We will respect your business and work ever so diligently to represent you ~ whether buying or selling.

My partners include;  Joe Pitino (33+ years in the business with Re/Max), Paul Etherington (current President of the Toronto Real Estate Board), Randy Miller (Commercial/Residential Realtor with Re/Max) and myself.  Together we bring a vast amount of knowledge from technology to long time real estate experience and commitment.  We look forward to working with you and earning your business and referrals.

Proud members of the TORONTO REAL ESTATE BOARD

Stay tuned, lots of great information coming and if you are a Realtor looking for a new Brokerage in 2015, give us a call, we would love to speak with you.

"REAL ESTATE YOU CAN TRUST"

44 Hesketh Road, Ajax - SOLD OVER ASKING IN ONE DAY

Well another successful listing and sale.  This property was bought in 2012 for $249,900.  The purchaser was working in Durham Region and felt that buying something would be better than renting !  WOW !  Did he get it right.  Sold once his job was finished here for $320,000.   Not only did he build up his equity over the two years but he also made a nice profit.  More than he would have made keeping the money in the bank.  So who says Real Estate isn't a wise investment. With the right agent representing you and guiding you, you can't lose.  Congrats to my Seller on the quick sale of his home and to anyone thinking about investing in real estate... stop thinking and start doing !!!

If you want to discuss your real estate needs, please feel free to contact me and I would be happy to assist you in your next real estate transaction.   The pleasure will be all mine.   

Quarterly Report from Toronto Real Estate Board - October 2014

Holding Offers - Who is REALLY Benefiting??

Ok here goes !!!  Being a full-time professional Realtor, I can honestly say that I have an equal amount of Buyers and Sellers this year, so this is being written with no pull one way or the other,  BUT in my experience, it has become apparent that holding offers is very prevalent.   My concern is this ... as a Buyer Agent - Is it not hard to keep your client motivated to participate in what I call a "goat rodeo"?????....They see the house, they love it and then you tell them, "Great, we have to wait until Monday night:"   Do they lose interest?  Do they talk themselves out of it?   Are they eager to participate in Multiple Offer situations?   I would have to say NO.

So now you have Buyers who are disengaged with the process.  They think we are holding them hostage and agents are over selling the properties and then saying, you need to go firm to win.   Is this really representing their best interest?

Then you have the flip side.  The Seller who thinks this is the way to do it.  List a bit lower than last sale and let people pay higher than asking and sell it in a weekend.   Sounds like the Listing Agent wins in that case and really would have to wonder if the Seller would not have gotten that price regardless if it was just priced at "market value" and let the offers come in as they are viewed and if a multiple offer situation occurs, so be it but don't force it.

I guess it depends on what side of the fence you are on.  I am not saying I don't hold offers ~ because now, most Sellers want that ... BUT ... even as a Listing Agent, if you get an offer priced way over asking and is firm, are you not a little worried at if it will appraise?   Just me speaking out loud here.  

I have walked away from offers when the prices seemed so inflated ~ I advise my Buyer "let's wait"... because honestly, "this house isn't worth it".... and I guess maybe that comes from having experience and knowing the homes in the Durham Region.   These crazy bidding wars usually are from out of the area agents coming into Durham Region and truly I have to wonder if they even know where the Durham/York Pipeline is or if they know about the Whites Road extension and so on.

So the bottom line, no matter whether you are a Seller or a Buyer, choose an agent you feel comfortable with, who KNOWS your neighbourhood and will REPRESENT YOUR BEST INTERESTS.

Happy House Hunting to  All and to all a Good Night !  :)

Very Competitive Market in July - Latest July 2014 Housing Information

9,198 Sales in July - 5,883 were from 905 AREA - Interesting... 7.5% increase in home prices from same time last year !   Invest in real Estate... 

July Mid Month Market Stats are out !!

I am not surprised by these numbers at all.   The market has been crazy.  Multiple offers, bidding wars, holding offers, highest prices ever.   Definitely a Sellers Market right now with no end in site.  

Thank you !!!!

I am very honoured to have my name amongst these great women in real estate.  I look forward to constantly working and striving to provide the best service in real estate for my clients and with my colleagues int he industry.  When you love what you do, you never work a day in your life !!!  Thank you again for this incredible mention.   

New Website to Find Your Dream Home

Are you finding that more and more websites have outdated listings?

I just launch a great new website www.househunting-durham.com to search UP TO DATE listings by area, price, type, etc.   

It shows the most recent homes first or you can search by neighbourhood or price or whatever you are looking for ?

Don't waste time on Realtor.ca or any of those other sites, check this out.  You won't be disappointed.  

Remax 2014 Housing Market Outlook

Home Buyer Land Transfer Tax - A Must Read