What determines price?

Believe it or not, the 2006 Spring real estate market has already started with a bang and people are back out buying properties with zeal. Last year we saw a new record for sales in Toronto, and this year looks like it will be as good or better. Finding the right home is important to people, and it should be. There’s nothing quite like having a home you love, in a neighbourhood you love. If you are looking to buy, think as long-term as possible. People often end up living in a house longer than they predict, so plan accordingly! My advice to buyers is always to take the time to look around, and really think about where you want to be. Buying a home is not only a major investment of money, it’s about where you live, and that’s one of the most important decisions you will ever make.

Remember: Preparation + Presentation + Promotion + Proper Pricing = Profit!

I am happy to announce that, as part of my commitment to ongoing professional development, I recently completed my Real Estate Broker designation through the Ontario Real Estate Association , and am now Associate Broker with RE/MAX Hallmark Realty Ltd.
 

1,508 Sales to Mid-Month

TORONTO, January 18, 2006 -- The first half of January resulted in 1,508 resale home sales in the Greater Toronto Area, Toronto Real Estate Board President John Meehan announced today.

“As usual, activity in the post-holiday season market is more moderate than during the peak spring months, but so far it is running at a normal pace for this time of year,” Mr. Meehan said. “Sales typically accelerate during the second half of the month and into February as the spring market begins to warm up.”

Ted Tsiakopoulos, Ontario Regional Economist for the Canada Mortgage and Housing Corporation, cited strong economic fundamentals as reasons for confidence in the Toronto market.

“Favourable interest rates, positive consumer sentiment and a respectable job market will ensure Toronto’s resale market will remain healthy in 2006,” Mr. Tsiakopoulos said.

Strong sales of condominiums played a significant role in one of the hottest markets in the GTA. In Toronto’s Downtown/Harbourfront area, sales of condominiums made up 89 per cent of the transactions, as overall sales in the first half of January outpaced last year’s total by 69 per cent.

The average price of a home in the Greater Toronto Area in the first half of January was $311,065, an increase of two per cent over the $303,236 recorded during the first half of January 2005.

Mr. Meehan added, ”The overall stability of the market makes it an excellent time to buy that first home or make a lifestyle change by switching to a different home.”

Toronto REALTORS are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service designed exclusively for REALTORS. Serving more than 22,000 REALTORS throughout the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board.

(Source: The Toronto Real Estate Board)

Storage units – convenience or avoidance?

There seems to be a trend now toward people going out and renting storage units as part of their de-cluttering process. Storage units can be an excellent idea in some circumstances – like when you’re preparing your house for sale and need to pare things down in a hurry, or when you’re renovating and need things out of the way temporarily, and similar short-term needs. But beware. For many people “out-of-sight, out-of mind” kicks in quickly, and they end up paying monthly rental fees, sometimes for years, to store things that they could quite easily do without. The real trick isn’t de-cluttering, it’s divesting yourself permanently of things that you don’t really want or need. So before you book storage, ask yourself – why do you think it ends in “age”?

Mirror, Mirror on the Wall

When I’m preparing properties for sale, I almost always bring in framed mirrors, large and small, to help show off the space. With the right decorative frame, a high quality mirror can be almost like a piece of art, only more versatile. Mirrors help to bring in light, and can make a place seem bigger and more open. Mirrors are called the "aspirin" of Feng Shui because of their ability to fix unbalanced energy flows. So go out and bring light and energy into your house by adding a new mirror or two. Note: While mirrors are generally considered to promote good energy, a mirror in your bedroom is strictly taboo, so if you have one there, you're best to move it.

Spring flowers are here – treat yourself!

You may have noticed the pots and pots of Spring flowers already in the stores. Perhaps not that surprising since it feels like Spring outside, but still a welcome sight. Treat yourself to a few tulips and daffodils around the house to help you get through until the real Spring arrives.

The National Home Show - April 8 - 16 - Be my guest!

The National Home Show, Canada's premier home show is coming up soon at the National Trade Centre. Sponsored by RE/MAX , this annual show features all the latest products and ideas for renovating, decorating and landscaping. Let me know if you or your friends and family would like to go, and I will be happy to give you passes as my guest. Don't be shy - I'll be thrilled if you ask!