Home sells for $1.15M OVER ASKING

Ok so this just is more of the same.   Last week a home in Whitby sells for

almost double and now this one in Toronto sells for 1.15 MILLION OVER ASKING !!   The article is in the Toronto Star in the link attached.

Homes sells for 1.15 OVER ASKING in Toronto

Just thought I would share this.

Happy Valentines Day !

January 2017 - Market Watch - Just Released !

No surprises here !  Market up 11.8% in sales compared to January 2016 and the prices are up 22.3%.   If you are thinking of selling, this might be the year to capitalize on the equity in your home and the strong housing market.  For a more in depth analysis of your home and what I can do for you, let me know.

TREB January 2017 Market Watch from Michelle Makos

December 2016 Market Watch Report

TREB December Market Watch 2016 from Michelle Makos

Interesting Fact - December 2013 - Average Selling Prices was $520,398 and December 2016 - Average Selling Price is $729,922... not a bad return on investment !

For more information if buying or selling a home, feel free to contact me for personal and professional service.  Michelle Makos, Royal Heritage Realty Ltd., 416-300-3004

Average Selling Prices for November 2016

Well as we wait to see what the December numbers are, here are the November numbers released from the Durham Region Association of Realtors. The numbers speak for themselves.

  

I will be sure to post the year end numbers for 2016 as soon as they are released.

At this time I would like to wish everyone a happy, healthy and prosperous New Year.   Looks like it is going to be another crazy year in real estate.  Please remember if you have any real estate related questions, buying, selling, investing, no matter how big or small, reach out, I would be only to happy to help.

10 Years Later - Who Knew???

Well there you have it my friends !!   Anyone who bought in 2006 is in a good position as far as real estate.  The increase is 264% increase... Talk about crazy !

So can this continue into 2017... we will have to wait and see but TD Bank has increased their mortgage rates and I am sure more will follow.  Something has to slow this down.. if you are thinking of selling, now is the time.. but also consider where will you buy?   That is a key factor... and in a market where everything is selling within days, I would recommend buying first and then listing your home unless you have alternate living arrangements.

Also a good time for anyone looking to borrow, instead of paying 19.9% on balances on credit cards, consider using the new equity in your home for a PLOC registered against your property and that way you will pay Prime + which is a lot lower than 19%.. unless you can pay your balances off on your credit card in full every month.. which is what I highly recommend.

For those who would like to check their credit score .. you can go to www.borrowell.com and get a free Equifax credit score and it won't affect your credit score either.   I highly recommend everyone keep an eye on what their score is as it affects your borrowing power and the interest rates you will get.

I also want to take this time to wish you all a very Happy Holiday Season and I look forward to working with you, now or in the future and if you have any real estate questions, don't be afraid to ask !

Cheers my real estate friends !   Let's hope 2017 is a fantastic year for all of us with continued good health and happiness.

If you have friends or family looking for make a move in a New Year, please don't hesitate to pass along my name, I would be only to happy to help !

HAPPY HOLIDAYS !

OCTOBER MARKET STATS - Check them out !

October Market Watch is Here ! from Michelle Makos

No surprises here ! October Average Prices for a detached home

 Ajax $713,929 - Pickering $793,507 - Oshawa - $509,701 - Whitby $724,268 - Aurora $1,212,402 - Oakville $1,311,536 - Mississauga $1,009,971 - Richmond Hill $1,531,618 - 

AND YOU WONDER WHY DURHAM REGION IS ON FIRE !!!!

If you require any real estate advice or a free home evaluation, feel free to contact me anytime.

Michelle Makos, your real estate advisor 

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!

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 !

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

TREB Market Watch for May 2016 from Michelle Makos

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.

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.

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.

February 2016 - Market Figures - Transactions UP 21.1% from same time last year !

March 2016 Real Estate Market Figures from Michelle Makos

It's a Sellers Market Out There !

Well folks, here we are approaching Easter weekend and the market is insane.  Buyers are fighting to win their Dream Home in multiples almost every night of the week.  Many people think that this is only happening in Toronto and I can tell you that is simply not true.  Durham Region real estate is a hot commodity right now.

Recently had on home in Ajax, 21 offers and sold almost 120K over asking.  Is

Welcome to Multiple Offers !

that unusual?   Not right now.  It seems to be becoming the norm.  But how far will it go?   We need inventory to balance this market out.   Yes, interest rates are low.  The demand is high but the supply just doesn't seem to be there.  A minute a home is listed, it seems to sell within a week or less.

Agents are waiving inspections and financing conditions just to WIN.   If you are the listing agent or the Seller, this is great times but if you are on the other side, it can be rather frustrating.   People ask me all the time, "will this continue?" and the trust to the question is, I simply don't know.   I don't see it slowing down any time soon.

We are getting buyers from Overseas, buyers from Toronto who can now sell their house there for $1M and move to Durham and buy for less money but not necessarily buy down in size.  It is driving our house prices through the roof.

I think the important thing to focus on here is know your market.  Buyers should have an agent from the market they are buying in.  It doesn't matter where you buy but make sure you agent knows the area, schools, market values, past sales, etc.

This is important.  Your agent when you are a Buyer is there to PROTECT your

interests.   Please keep this in mind as I see Buyers going to Open Houses now and thinking if they use the Listing Agent, they will get a deal... NEWS FLASH - there are no deals right now !!!   This is a strong market... Highest and Best Offer wins... but at least if you have your own Agent you know they are working in your best interests.

If they tell you, that's high enough - listen !   Don't buy with your emotions.  Listen to reason.   We have been doing this a long time.  

Back in 1989/1990 a similar market happened, interest rates were higher (12 to 14%) and home prices were much more reasonable but it corrected itself in a matter of weeks.   It took years for those homes to rally back to the prices Buyers paid for them.

I am not trying to scare anyone out of buying real estate.  It is your biggest and best investment.  I am just trying to educate both Buyers and Sellers.  If you are thinking of selling and are sitting on the fence, don't wait too long... you never know what can happen and if you are buying now, use an experience agent who knows your market you are buying.  Just because they are your family or a friend, that doesn't necessarily mean they know what works in that particular neighbourhood.

I can honestly say, from what I have seen lately, the offer price needs to be at least 5 to 10K for each offer over asking FIRM to win.   So it depends on how many offers and which neighbourhood and price point you are buying in.

The good news is ... we have a healthy real estate market right now which is good for the economy.   Good luck in your home search and play your poker hand right.  Keep your cards close to your chest.  Share your numbers with your agent so you can strategize together the best way to attack the situation and come out on the winning side.  

Have a wonderful holiday weekend everyone and happy house hunting !!! 

Check out the latest market statistics from TREB for January 2016.

Strong Start.  8.2% Increase in transactions from January 2015

Market is still strong.  

Treb Market Watch - January 2016 from Michelle Makos

Market Review and Outlook Report for 2016

TREB Market - Year in Review - Market Outlook 2016 from Michelle Makos

1299 Glenanna Road, #33 - Pickering ON - $469,900

NEW LISTING

Immaculate One Year Near 3 Bdrm Townhouse in Prime Pickering Location

$469,900

Just Move Right In

Call me today for a private showing.

December 2015 - Best Year EVER in Real Estate

December 2015 TREB Market Watch from Michelle Makos

No Additional Land Transfer Tax Outside Toronto

After petitions and marches, they have listened.  The government WILL NOT be adding the additional land transfer tax to the 905 area code and beyond.  This is great news for home buyers.  We are hoping there is no political spin on this and this is the end of it.



Read more here:
No additional Land Transfer Tax outside Toronto

169 Admiral Road, South Ajax Home For Sale

169 Admiral Road, Ajax

Just listed - $349,900

Fantastic 2 Bdrm Well Maintained Home w/Double Car Garage (Detached), Finished Basement w/Rec Room and Bar

Treed Lot !

Call Michelle Makos, Royal Heritage Realty Ltd today for a Private Viewing

Virtual Tour - Click Here

** SOLD OVER ASKING ** 5 Days on the Market

Thinking of Selling Your Home?

Fall market is soon upon us.  Prices are up and inventory is low.  This is a great time to sell.  Be in a new home for Christmas.  

The market is strong, interest rates are low.  This is a great time to list your home and get top dollar.  With professional photographs, virtual tour, internet exposure and fool proof marketing plan that will get you maximum exposure on your largest investment.

I would be happy to meet with you and go over the best marketing/pricing strategy to obtain top dollar for your home.  No obligation. Call today !