The most common question Real Estate Agents are faced with on almost a daily basis; Is There Really a "Good Time" To Buy or Sell?
When The Rainmaker Team discusses this question with our clients we look at it from a variety of different perspectives.
First we consider what YOU mean by “good time”? Is it the right time in your life; is it the right time of year, week or month; or is it based on the market? These are all topics we can discuss when deciding if it’s the “right time” to list your home. In our experience, once the decision is made to list your home for sale, all the other “timing” questions simply fall into place.
The decision to move is often made with careful consideration and is usually the result of life changing circumstances such as a marriage, the birth of a child or the need to downsize. People take into consideration mortgage rates and home prices and gradually the decision is made that it may be the “right time” to move.
Typically it has been said the Spring is the best time of the year to sell because people put their homes on the market after being cooped up all winter and are anxious to make a move.
Alternatively, some people may also want to get settled before their kids are out of school, or before heading off for summer vacation. However, these “rules” are quickly changing. In today’s market we at the Rainmaker Team have seen homes sell just as quickly and for excellent prices during the “off” months as well. A serious buyer is looking to purchase at any time of year!
Homes are typically listed towards the end of the work week, with showings and open houses in full swing on Saturday and Sunday. We often tell our clients that properties can also be listed at the beginning of the week with terrific results. A Rainmaker Team member will help you decide on the “right” time of week to list your property so that you can obtain the best results!
So what does this all mean to you? In reality, there is no cut and dry answer to this age old question! When you think you might be ready to buy or sell, contact a knowledgeable and conscientious real estate advisor at the Rainmaker Team. We are prepared to answer all of your questions and can help you decide when the “time is right” for you to enter the real estate market!
By Christine Field, Sales Representative at TheRainMakerTeam
The thought of a kitchen renovation may cause your eye to twitch and your sweat to trickle. You've heard the horror stories — work costing more than expected, lasting too long, or not ending up the way you expected. While you can't predict everything, there are ways to keep the road to a shiny new kitchen relatively stress-free.
Robin Saxberg, principal designer at Hamilton, Ontario's DESZA Design, advises that leaving the project to a professional may save you headaches in the long-run. “Occasionally, the client will want to do the demolition themselves either for cost-savings or for fun, which it is. However, there may be a risk of accidently damaging something important,” she reveals. “Most demos require the rental or purchase of tools, safety equipment and waste bin rental which could eliminate much of the potential savings.”
If you're thinking of taking on the demolition yourself in hopes of saving a few bucks, look at other options. Contact your local Habitat for Humanity ReStore to see if they are able to remove your old kitchen for you. Also keep in mind that the contractor you hire usually includes this in their quote.
If you feel like you're drowning in sawdust, Saxberg says to keep in mind that your kitchen won't always be gutted. “Though your renovation may seem overwhelming at times, it is temporary. Any stress and chaos will pass and when the dust settles, you'll have a beautiful, perfectly unique space that functions the way you need it to.”
In the meantime, follow her five tips for a smooth and successful kitchen reno.
1. Get everything in writing: Read and understand all contracts with designers, contractors and anyone else you hire.
2. Keep an emergency fund: Set aside around 10 per cent of your renovation budget as a contingency fund. If a pipe bursts or the electrical needs to be rewired, you won't panic knowing you have enough to cover it.
3. Plan as much as possible: Lay out your renovation roadmap before the project begins, and don't be afraid to ask your contractor or designer lots of questions. Placing orders before work starts will also cut down on wait time for deliveries.
4. Invest in key pieces: Putting money into a quality stone surface countertop and Canadian-made solid wood flooring will ensure your kitchen will stand the test of time.
5. Reduce, reuse, recycle: Do some good by donating your old kitchen items to a local charitable organization, like Habitat for Humanity ReStores. Many contractors also work with them. This will keep your old kitchen out of the landfill and help others in the process.
Downsizing your home is a hard decision. Once you've made the choice to move, you have another set of choices to make that may be even more difficult.
Because often the homes we move to have less space, you wont have enough room for all the possessions you've accumulated over the years, so how do you know what will you take with you?
They say, in most homes, you can get rid of 30 per cent of its contents and never miss it, so how much are you willing to part with?
Discarding, selling or giving your possessions away can be a gruelling experience because, for most of us, the things we own have sentimental value.
When you know you’re going to move, here are a few things that you can do to make decluttering and downsizing less painful:
TORONTO, ONTARIO, July 6, 2016 – Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 12,794 residential transactions through TREB’s MLS® System in June 2016. This result was 7.5 per cent higher than the 11,905 sales reported in June 2015. In line with the prevailing trend so far this year, the number of new listings was down by 3.8 per cent.
“As I start my term as TREB President, we are certainly in an interesting environment for ownership housing. There is no doubt that demand is at a record level, but would-be home buyers continue to face an uphill battle against a constrained supply of listings, which has perpetuated strong price growth. Buyers and sellers alike continue to benefit from the value a REALTOR® brings to a transaction,” said Mr. Cerqua.
“As the federal, provincial and local levels of government discuss housing policy in the coming months, issues affecting the lack of supply in the GTA should be of paramount importance. TREB will be undertaking, and making public, results of additional research in the second half of 2016, with the goal of proactively adding to the housing policy discussion,” added Mr. Cerqua.
The MLS® Home Price Index Composite Benchmark was up by 16 per cent on a year- overyear basis. The average selling price for all home types combined was up by a slightly higher annual rate of 16.8 per cent to $746,546. The single-detached, semi- detached and townhouse market segments led the way in terms of price growth.
“When TREB surveyed consumer intentions for 2016, we found that the majority of GTA households who were likely to purchase a home continued to be pointed towards some form of ground oriented housing. This is why we continue to see strong competition between buyers in many neighbourhoods where supply remains constrained,” said Jason Mercer, TREB’s Director of Market Analysis.