Your home is fabulous, in a great location, up until now it's been sitting on the market for many weeks with little or no interest. You are getting very disheartened. What can you do?
Real estate is an inconsistent business with markets fluctuating according to the economy, interest rates and supply and demand. The general market aside, there could be other reasons why your terrific home has not sold.
The number one reason excellent homes do not sell is because they are overpriced. Setting a sale price for your home is a complex business. You want to get the maximum possible return on the sale without turning off potential buyers with an exaggerated price.
As this article is being written, home prices in Toronto are down approximately 20% year to date. Home sellers must price their home for today’s market if they are genuine about selling. An initial high price will drive away potential buyers put off by an over-valuation of your home. They will think your home is simply out of range, or that you are being greedy or unrealistic in your thinking.
It is important to price your house according to the market in which it is located. For example, a house located near hydro towers or backing onto a railway line may sell for less than and identical house situated in a nearby area without these adverse facilities.
Additionally, if there are a lot of homes for sale in your neighborhood, it becomes a buyers' market and you will not be able to obtain the price you think you should get if your neighbors are willing to go lower.
Finally, there are trade-offs when selling your house: a lower price usually means a larger group of potential buyers and a faster sale, while a higher price means a smaller market of potential buyers and a slower sale. The current market conditions, CMA) as presented to you by your realtor determine the price you should ask for your home. If you overprice it, you must be prepared to wait to get it or reduce it in time.
Another reason your house may not be selling is exposure. Are you trying to sell it yourself? If so, it may be difficult to arrange showings around your work and family schedule, you do not want to pay the cost of advertising, you are hoping someone will drive by and call, to name a few obstacles, therefore limiting the potential for a sale. Listing your home with a realtor will give you the exposure you need to sell your home and the professional feedback. Not only does a realtor have more flexibility in showing your home, he or she will also advertise the house, list it on the widely used MLS (Multiple Listing Service) website, their own website, and that of their company’s. A realtor will also do open house and is an objective party to hear what people are saying when they come through.
A realtor will attract buyers because of a photo on the MLS listing, the internet website, advertising, emails to other realtors, open houses, a professional sign on the front lawn or feature sheets.
Other matters to consider include:
· Does your home look neat and welcoming from the street? Enhancing your exterior appeal will increase your chance of a buyer being interested. It is in good repair? Just like with photographs, your home is judged on its appearance from the road.
· Is your house clean and neat? This is vital to making a strong impression on potential buyers. Clutter is not desirable, so take time to sift through your belongings and get rid of the stuff you don't need or want. Throw out the junk and donate the rest of your unwanted possessions to charity. Even after going through your things, you may have too much stuff in plain view.
Make your closets and cabinets look spacious, and if there is too much, buy some plastic containers and store the stuff you don't use very often in the tubs, which you can stack neatly in a corner in the basement. This will improve the look of your home and it will be packed already for your move.
· Update your interior decorating to enhance the attraction of your home. Replace old flooring, apply new paint, and add a slip cover to your or unstylish furniture. Changing the doorknobs in your kitchen and bathrooms is a great way to modernize its look without spending a lot of money. Remove stained or foul smelling carpet. Hardwood flooring found in good condition underneath the carpet is an added bonus.
· Odour management. Not everyone loves our pets as we do. Make sure the kitty litter box is fresh (and out of the way!), and that hair and musty pet blankets are out of sight. If your pet has soiled the carpet, it should be professionally cleaned or removed.
Toronto residential real estate has become a buyer’s market. It is still strong and it is still a great time to by with mortgages remaining low.
Monday, October 27, 2008
Monday, October 6, 2008
Toronto Events from November to January 2009
Toronto from December 2008 to February 2009
Cavalcade of Lights
November 29 - December, 2008
Venue: Nathan Phillips Square
Website: www.toronto.ca/special_events
Toronto's festive season officially kicks off at the end of November each year with the brilliant illumination of Nathan Phillips Square with more than 100,000 lights, spectacular fireworks and a massive Christmas tree, heralding a month of merry-making and fun events in the city centre. Events include 'Designs in Ice' exhibition, outdoor concerts, street theatre and skating parties. For more information contact Toronto Special Events on (416) 395 0490 or email spevmktg@toronto.ca
Cavalcade of Lights Saturday Night Fireworks
December 6, 13 & 20, 2008
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Celebrate the Holidays With Us at Casa Loma
The Toronto Star Presents
Sleeping Beauty’s
Enchanted Castle
Friday, November 28, 2008 to Sunday, January 4, 2009
Closed at 1:00 p.m. December 24th and all day December 25th
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Black Creek Pioneer Village
December 6, 13 & 20th
6:00-9:30 p.m.
Delight in the glow of oil lamps, candle light and innovative gas lighting throughout the Village
Taste real sugar plums, chestnuts & other traditional holiday treats
Crowd around to hear the story telling
Warm yourself with hot apple cider
Try your hand at Victorian games
Sing along with carollers
Learn to make beautiful, old fashioned Christmas decorations
Enjoy unique, ‘save the tax’ shopping all evening in Black Creek’s Gift Shop & Laskay Emporium.
$32/person
$27/person for Black Creek Pioneer Village & Conservation Area Members (taxes included)
To purchase tickets click here.
Christmas By Lamplight Program with Dinner
Half Way House Restaurant, Black Creek Pioneer Village
$81/adult & $58/child (12 and under)
$76/adult & $53/ child for Black Creek Pioneer Village & Conservation Area Members (taxes included)
To purchase tickets and make reservations, please call 416-736-1733 ext.5331
*********************************************************************************
Christmas Treats Walk At the Toronto Zoo
During this annual event Siberian Tigers, Reindeer and other animals receive their seasonal goodies at the Toronto Zoo. Strolling carolers roam the grounds and there's free hot chocolate for everyone.
It's recommended that participants bring a non-perishable food item to help the food bank. Half-price admission to the Zoo is all day. Admission proceeds on this day go to support the Endangered Species Fund.
Please note this in an outdoor event.
Price: General Admission (13-64): $20, Senior (65+): $14, Child (4-12): $12, Child (3 and under): free
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Whatever the holiday, the city will generaly have something going on at Nathan Phillips Square. Great ice rink throughout the winter
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WinterCity - a 14-day celebration of culture, creativity and cuisine.
January 30 to February 12, 2009
Winterlicious - the ever popular Prix-Fixe promotion, mouth-watering Culinary Events & the new Chef Series.
January 30 - February 12, 2009
In 2009, the WinterCity festival will run from Jan 30 to Feb 12, 2009 with spectacular shows, concerts and surprises for all ages.
*************************************************************************
Cavalcade of Lights
November 29 - December, 2008
Venue: Nathan Phillips Square
Website: www.toronto.ca/special_events
Toronto's festive season officially kicks off at the end of November each year with the brilliant illumination of Nathan Phillips Square with more than 100,000 lights, spectacular fireworks and a massive Christmas tree, heralding a month of merry-making and fun events in the city centre. Events include 'Designs in Ice' exhibition, outdoor concerts, street theatre and skating parties. For more information contact Toronto Special Events on (416) 395 0490 or email spevmktg@toronto.ca
Cavalcade of Lights Saturday Night Fireworks
December 6, 13 & 20, 2008
*************************************************************************
Celebrate the Holidays With Us at Casa Loma
The Toronto Star Presents
Sleeping Beauty’s
Enchanted Castle
Friday, November 28, 2008 to Sunday, January 4, 2009
Closed at 1:00 p.m. December 24th and all day December 25th
******************************************************************************
Black Creek Pioneer Village
December 6, 13 & 20th
6:00-9:30 p.m.
Delight in the glow of oil lamps, candle light and innovative gas lighting throughout the Village
Taste real sugar plums, chestnuts & other traditional holiday treats
Crowd around to hear the story telling
Warm yourself with hot apple cider
Try your hand at Victorian games
Sing along with carollers
Learn to make beautiful, old fashioned Christmas decorations
Enjoy unique, ‘save the tax’ shopping all evening in Black Creek’s Gift Shop & Laskay Emporium.
$32/person
$27/person for Black Creek Pioneer Village & Conservation Area Members (taxes included)
To purchase tickets click here.
Christmas By Lamplight Program with Dinner
Half Way House Restaurant, Black Creek Pioneer Village
$81/adult & $58/child (12 and under)
$76/adult & $53/ child for Black Creek Pioneer Village & Conservation Area Members (taxes included)
To purchase tickets and make reservations, please call 416-736-1733 ext.5331
*********************************************************************************
Christmas Treats Walk At the Toronto Zoo
During this annual event Siberian Tigers, Reindeer and other animals receive their seasonal goodies at the Toronto Zoo. Strolling carolers roam the grounds and there's free hot chocolate for everyone.
It's recommended that participants bring a non-perishable food item to help the food bank. Half-price admission to the Zoo is all day. Admission proceeds on this day go to support the Endangered Species Fund.
Please note this in an outdoor event.
Price: General Admission (13-64): $20, Senior (65+): $14, Child (4-12): $12, Child (3 and under): free
*******************************************************************************
Whatever the holiday, the city will generaly have something going on at Nathan Phillips Square. Great ice rink throughout the winter
*********************************************************************************
*********************************************************************************
WinterCity - a 14-day celebration of culture, creativity and cuisine.
January 30 to February 12, 2009
Winterlicious - the ever popular Prix-Fixe promotion, mouth-watering Culinary Events & the new Chef Series.
January 30 - February 12, 2009
In 2009, the WinterCity festival will run from Jan 30 to Feb 12, 2009 with spectacular shows, concerts and surprises for all ages.
*************************************************************************
Toronto Sales for September from the Toronto Real Estae Board
GTA Resale Housing Market Measured in September
October 3, 2008 -- The Greater Toronto Area resale housing market continued at a measured pace through September, Toronto Real Estate Board President Maureen O’Neill announced today.
With 6,424 homes changing hands last month, activity in the GTA declined six per cent compared to the 6,866 sales that took place in September 2007 and declined three per cent compared to the 6,622 transactions that were recorded two years ago.
In the City of Toronto sales were less robust. The 2,546 transactions recorded last month declined 11 per cent from the 2,854 sales in September 2007 and declined five per cent from the 2,680 sales recorded in September 2006. Sales increased six per cent between September 2006 and September 2007.
“We remain concerned about the Land Transfer Tax in the City of Toronto,” said Ms. O’Neill.
In the 905 Region, the 3,878 sales recorded last month were within three per cent of September 2007’s 4,012 transactions, and within two per cent of September 2006’s 3,942 sales. Sales in this region increased two per cent between September 2006 and September 2007.
From a year-to-date perspective, the GTA resale housing market has declined 14 per cent from the 73,827 transactions recorded a year ago. To date, there have been 63,595 sales through the TorontoMLS system this year. In the City of Toronto year-to-date sales have declined 16 per cent from last year’s figure of 30,059 to 25,257 transactions this year. In the 905 Region year-todate sales have declined 12 per cent. So far this year there have been 38,338 sales in the 905
Region compared to 43,768 last year. Prices throughout the GTA however, have remained fairly stable. At $368,549, the average price of a GTA home in September has declined three per cent from $380,132 recorded a year ago.
In the City of Toronto, the current average price of $393,647 declined six per cent from the September 2007 average of $420,182. Compared to the September 2006 average of $371,682 though, prices in Toronto for September 2008 have increased six per cent.
In the 905 Region, the average price of $352,071, increased marginally from the $351,641 recorded in September 2007, and was up five per cent from 2006 September average of $333,818.
“Although the market is not as robust as it was a year ago, homeowners are continuing to see strong returns on their investment,” said Ms. O’Neill. “On average, Sellers are achieving 97 per cent of their asking price.
With the average number of days on market increasing to 36 days from to 31 days a year ago, it is taking slightly longer for homeowners to achieve a sale.
“Even with respect to sales activity, each month we continue to see a handful of neighbourhoods reporting increases compared to a year ago.”
In Scarborough East (E08) transactions increased 22 per cent compared to September 2007 based on strong sales of all housing types.
"Given that these are trying times for the world economy, in context, the Greater Toronto Area resale housing market continues to fare quite well,” said Ms. O’Neill. “From a long-term perspective, buying a home remains a sound financial decision.”
October 3, 2008 -- The Greater Toronto Area resale housing market continued at a measured pace through September, Toronto Real Estate Board President Maureen O’Neill announced today.
With 6,424 homes changing hands last month, activity in the GTA declined six per cent compared to the 6,866 sales that took place in September 2007 and declined three per cent compared to the 6,622 transactions that were recorded two years ago.
In the City of Toronto sales were less robust. The 2,546 transactions recorded last month declined 11 per cent from the 2,854 sales in September 2007 and declined five per cent from the 2,680 sales recorded in September 2006. Sales increased six per cent between September 2006 and September 2007.
“We remain concerned about the Land Transfer Tax in the City of Toronto,” said Ms. O’Neill.
In the 905 Region, the 3,878 sales recorded last month were within three per cent of September 2007’s 4,012 transactions, and within two per cent of September 2006’s 3,942 sales. Sales in this region increased two per cent between September 2006 and September 2007.
From a year-to-date perspective, the GTA resale housing market has declined 14 per cent from the 73,827 transactions recorded a year ago. To date, there have been 63,595 sales through the TorontoMLS system this year. In the City of Toronto year-to-date sales have declined 16 per cent from last year’s figure of 30,059 to 25,257 transactions this year. In the 905 Region year-todate sales have declined 12 per cent. So far this year there have been 38,338 sales in the 905
Region compared to 43,768 last year. Prices throughout the GTA however, have remained fairly stable. At $368,549, the average price of a GTA home in September has declined three per cent from $380,132 recorded a year ago.
In the City of Toronto, the current average price of $393,647 declined six per cent from the September 2007 average of $420,182. Compared to the September 2006 average of $371,682 though, prices in Toronto for September 2008 have increased six per cent.
In the 905 Region, the average price of $352,071, increased marginally from the $351,641 recorded in September 2007, and was up five per cent from 2006 September average of $333,818.
“Although the market is not as robust as it was a year ago, homeowners are continuing to see strong returns on their investment,” said Ms. O’Neill. “On average, Sellers are achieving 97 per cent of their asking price.
With the average number of days on market increasing to 36 days from to 31 days a year ago, it is taking slightly longer for homeowners to achieve a sale.
“Even with respect to sales activity, each month we continue to see a handful of neighbourhoods reporting increases compared to a year ago.”
In Scarborough East (E08) transactions increased 22 per cent compared to September 2007 based on strong sales of all housing types.
"Given that these are trying times for the world economy, in context, the Greater Toronto Area resale housing market continues to fare quite well,” said Ms. O’Neill. “From a long-term perspective, buying a home remains a sound financial decision.”
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