Home Re-sale Market (GTA - TREB areas)

	Homes Sold			Average Price
	2007		2008	2007	2008
April	9452		8762	$379,025		$398,687
March	8518		6631	$365,285		$380,338
February	6772		6015	$368,687		$382,048
January	5173		5075	$353,724		$374,449

Your Home At Center Stage
In Hollywood they are called stylists. They are fashion professionals who help celebrities shine by outfitting them in the right clothes and accessories. In the world of home buying and selling, real estate professionals fill the same role, but in this case the “star” is your home. Here are five things you can do to stage your home for sale.

Staging is an important part of the home sale process.Staging is presenting your home in its best and most appealing light to the majority of buyers. In the end, it may even lead to less time on the market and a better sales price.

1. De-clutter and de-personalize: Remove all clutter and reduce the number of personal pictures and mementos. You do not have to purge everything, but packing away items at a friend’s house or in storage might be a good idea.

2. Go for an updated look: If you have well-worn, wall-to-wall carpet, rip it up and replace it. If your kitchen cabinets are dated, spruce them up with new paint. Making your home look its best may take some money and some elbow grease.

3. Create a warm and cozy environment: You want your home to have a welcoming feel. Rearrange seating to create conversation areas. You want buyers to want to stay and relax.

4. Lighten up: Use table lamps to create a warm glow and mirrors to reflect the light around the room. Open up blinds and shades to let the sunshine in. A fresh coat of paint in an inviting, neutral tone will play up the sense of light and warmth.

5. Use accessories: Accent pillows, throw blankets, fresh cut flowers, bowls of polished fruit and artfully arranged books, can help you complete the sophisticated and inviting scene. Remember, you want buyers to imagine themselves living in this setting.

Work with us in preparing your home for sale by creating the home of your buyer’s dreams.

Flipping A New Home?
All new homes in Ontario are covered by a statutory warranty as per Ontario New Home Warranties Plan Act. Tarion Warranty Corporation is responsible to administer the act and also serves as the Regulator of the new home building industry.

If you buy new housing units and re-sell without first occupying them, than you may have specific obligations under the Ontario New Home Warranties Plan Act. You may also be required to submit an Application for Registration as a ‘Vendor’ to Tarion Warranty Corporation, meeting specific terms and conditions.

You may be responsible for the Deposit Protection, Delayed Closing and any material changes made after purchase from the builder. You are further required to provide Tarion with written confirmation that the builder will provide necessary warranty service or alternatively, specify how you will provide it.

There are other specific requirements that you may have to comply with and should be aware of. To get the latest information on new home warranty and your obligations visit www.tarion.com.

The Upper Hand
When there are more homes for sale than the market demands, the advantage in the real estate transaction shifts to the buyer. Often called a “buyer’s market,” it means the purchasing party holds most of the power.

Here are four ways you can capitalize on that power position.

Price – This is the most obvious and perhaps the most important place buyers can exercise their advantage. In such a market, buyers may have the opportunity to bid below asking price, especially if a property has languished for several weeks without an offer. A proactive approach will allow you to space out the projects and the related costs.

Timetable – In a market without bidding wars and multiple offers, sellers may be willing to make allowances to keep their buyer satisfied. If you have specific timing needs make them part of the negotiations.

Repairs – The home inspector may recommend certain upgrades or repairs after his review. Consider asking the seller to make these changes or to reduce the asking price to pay for these extra costs. In different market conditions, the seller would probably refuse, but in a buyer’s market, they might be more inclined to make concessions.

The Extras – Think about requesting additional items, such as window treatments and furniture, to be included in the sales price. Although it is nice to be in the party with the upper hand, a word of caution. Don’t be greedy. Follow your real estate professional’s lead about what is appropriate and what would be overstepping your bounds. The idea is to use the market conditions to your benefit, not to make the transaction difficult. Remember, if you take your demands too far, it could jeopardize the sale.

Renovating Your Kitchen
The kitchen countertop is typically the most used part of the kitchen and may need to be changed due to wear and tear over time or simply for aesthetic reasons.

Lately, granite has been more popular for countertop. Granite is a durable material that is heat and scratch resistant. It is also one of the expensive materials. Although granite adds to the elegance of the kitchen and hence increased value of your home, the countertop should be maintained on a regular basis. One of the common damages that may occur is small chipping and cracks around the sink area due to hitting of dishes, pots and pans while washing. These chippings and cracks may cause water collection and absorbption in granite and should be repaired to avoid further damange and to maintain the original beauty of the countertop. Make sure to ask your contractor or supplier on how to take care of your beautiful granite.

"All glory comes from daring to begin" - William Shakespeare