Strong market is good for buyers and sellers!

I am asked frequently how the Toronto real estate market is doing. I am happy to answer: it is doing very well – strong and steady with prices rising at a consistent rate. It remains a very good time to buy and sell; the strong market simply means that you need to be prepared.

If you are buying, being prepared helps you to be patient when needed and, at the same time, be ready to move quickly when you see what you want. I spend a lot of time with clients who are buying, showing them neighbourhoods and comparing properties, both current and recently sold. I make sure that my clients understand what determines relative property values, and know what features are most important to them. Even well-seasoned home-buyers benefit from a “refresher” as the market is always changing.

To sell in this market and do well, you have to prepare a property in detail to show its absolute best to appeal to a stream of buyers who are more discerning than ever. And you have to market the property appropriately to draw attention.

Buying or selling, this market calls for preparation - and for having an outstanding realtor working with you. Call me at the first thought of doing anything. I will help you do the right things in the right order, and come out on top, emotionally and financially.
 

FEBRUARY CHALLENGES RECORD

TORONTO, February 17, 2006 -- The 3,301 resale home transactions through the first half of the month put February 2006 slightly ahead of record-setting first half of February 2002, when 3,286 transactions were recorded, Toronto Real Estate Board President John Meehan announced today. He also noted that the current month is up almost 13 per cent over last year’s mid-month figure of 2,924.

“The market is off to a solid start, though it’s obviously still very early in the season. The mild winter has likely contributed to higher activity, but nevertheless a strong performance like this is evidence of the overall health of the market,” Mr. Meehan said.

The average price of a home in mid-February was $348,804, up 12 per cent from the $311,065 recorded at the same point in January, and up four per cent over the $334,968 recorded a year ago.

According to Jason Mercer, Senior Market Analyst for the Canada Mortgage and Housing Corporation, strong results through the first half of the month reflect the strong fundamentals that continue to underlie the Toronto area housing market.

“While rising slightly over the past few months, mortgage rates have remained very low by historical standards. Low borrowing costs coupled with respectable job growth have kept home purchases near record levels,” Mr. Mercer said.

At mid-month, some of the most active areas compared to mid-February 2005 were found in the west end of the city of Toronto, outside the downtown core:

One large area east of the Humber river, stretching from High Park in the south up to Downsview, showed an average of 68 per cent more overall transactions compared to mid-February of last year. Detached homes are the most common housing type in this area.

In the east, the Guildwood / Scarborough Village area of Toronto saw 44 per cent more overall transactions than a year ago, led by sales of detached homes.

Outside Toronto, sales activity to mid-month in the town of Whitby was 43 per cent higher than during the same time frame a year ago.

Mr. Meehan added that a strong start to the year is good for consumer confidence.

“Consumers see the strong foundations that are in place and it reassures them that it is a good time to get into the market for the first time or make a lifestyle change by switching homes.”

(Source: The Toronto Real Estate Board)

Reminder - be my guest at The National Home Show - April 8 - 16!

I have purchased passes to the National Home Show just so that I can give them away FREE to you! So, please, be my guest! If you or your friends and family would like to go, don't be shy - just let me know and will be happy to send you passes. The annual National Home Show is sponsored by REMAX and features all the latest products and ideas for renovating, decorating and landscaping. It’s a great outing for any homeowner. www.nationalhomeshow.com

Sale Alert! - Martin Daniel Interiors Spring Sale begins March 9th

Twice a year Martin Daniel Interiors at 2663 Steeles Avenue W. (west of Dufferin) has a clearance sale with deep discounts on fine Italian furniture and home accessories. See www.martindanielinteriors.com for a look at their collection. The 2006 Spring sale starts next week on March 9 – get there early for the best selection – things go quickly!

Some tips for shopping at sale time:

• Make a list ahead of time so you know what you're looking for.
• If space is an issue, bring measurements so you know what will fit – there are no returns!
• If you have them, bring fabric swatches of anything you need to coordinate.
• Don’t be over-influenced by price – buy only what you would want if it were at regular price.

Household Purging: it’s not a project – it’s a way of life!

If you’re tired of hearing about de-cluttering, sorry, it's here to stay. As with housecleaning and personal grooming, it needs to be ongoing. The most important step is to teach yourself to notice what you have - become aware. Start by looking, even for half a second, each time you open a cupboard, a drawer, a closet, and notice what’s there. If there's something that you don't use, don't love, something that's worn or out of style, or that you don't enjoy having in your home, clear it out. No matter who gave it to you or how much you paid for it. Let it go.

Tips and resources:

• Keep an active bin to accumulate items for charity. When the bin is full take it to your nearest Goodwill (or other) drop-off centre. Make this a continuous habit.
• Put larger items such as used furniture out at the curb a couple of days before regular garbage day. Things have a way of disappearing as if by magic. Leave whatever remains for the regular garbage pick-up.
• Check out www.charityvillage.com. They have a great list of charities who will take used furniture, clothing and household items, including those who will pick up if you need them to.
• If you have something to sell check out www.craigslist.com and find the Toronto section. It’s like an electronic bulletin board, and it’s free. We know people who have had great success with this – it seems easier than e-bay since you are dealing with local people, and there’s no bidding on price, just a straight negotiation.

New Smoke Detector Law Effective TODAY March 1, 2006:

The Ontario Fire Code now requires Smoke Alarms to be installed on every storey of your home, not just on sleeping levels as before. Homeowners can be fined $235 for not having enough smoke detectors (and landlords up to $50,000) but, more importantly, this law is for your safety. Check all of your smoke detectors, make sure batteries are charged, and buy additional detectors TODAY if you need them.

Safety Reminder: Know your exit plan in case of fire!

Though we all hope never to need it, having an emergency plan in case of fire in your home may save you and your family. Here are some important reminders:

• Make an escape plan from doors and windows in every room in your house. Practice your plan with your entire family as if the house is dark and filled with smoke, and using different escape routes as if the fire is in different locations. Make sure everyone can unlock and open all windows and doors quickly and knows exactly what to do. Plan how to escape safely from the second floor if you need to. Consider small children and people with special needs.
• Make sure your family knows to leave IMMEDIATELY when they hear a smoke alarm or someone yelling, "Fire!"
• Agree on a meeting point outside the house so you can take a head count - the best place is in front of your house, where firefighters will arrive.
• Since heat and smoke rise, stay close to the floor and, if you need to, crawl to the nearest safe exit.
• Close doors between you and the fire. Use blankets or towels to cover cracks around doors. Get to a window and signal for help - use a flashlight or wave a bright cloth such as a t-shirt. If there is a phone in the room, call 9-1-1, and tell them exactly where you are in the house.
• If you are in a high rise building, do not use the elevator - always exit by the stairs.
• Once you are out, don't go back, no matter what. Make sure someone has called 9-1-1 and wait for the firefighters to arrive.

For more details and fire safety guidelines go to www.toronto.ca/fire/prevention/escape_plan.htm