As you may know, it’s common to include a home inspection as a condition of an offer you make. It protects you from issues that you might not otherwise see during a viewing.
What do you do if the home inspector finds something wrong? The inspector might find a leak in the foundation, or windows that are old, drafty and need replacing.
Must you pass on a property that you otherwise like?
Not necessarily. Just because the home inspector discovered a deficiency doesn’t necessarily mean you shouldn’t purchase the home. You should, however, bring the issue up with the seller.
Your REALTOR® will do that on your behalf, and look after your interests.
In many circumstances, your REALTOR® will be able to negotiate an agreement that is satisfactory to everyone involved. This will usually be in the form of a reduction in the sale price to cover some or all of the costs of the repair, or a requirement to have the seller get the repairs done before you move in.
So don’t worry if the inspector finds something wrong. Chances are you can still get the home and have any issues dealt with to your satisfaction.
Let’s face it. When you visit a home during a scheduled viewing or open house, you’re usually seeing it at its best. The rooms are tidy. The sinks are clean. The closets are organized and uncluttered. Even the lighting is set to its brightest.
That’s just good old-fashioned marketing.
However, not every house you see will actually look this way. For any number of reasons, a house on the market may be less than tidy, poorly decorated, and even in need of minor repairs. You may open the front door in anticipation, only to be immediately turned off by stains on the carpets, faded paint on the walls, cluttered hallways, and more.
First impressions form quickly. It’s easy to make quick judgments and move on. But, you may be passing on what could be a dream home.
Don’t make that mistake. Make your purchase decision based on a carefully considered second impression, not just your first.
When viewing a house, imagine how it will look with a fresh coat of paint, some redecorating, the minor repairs completed, and your furniture adorning the rooms. You might just find that a home that doesn’t show well is really a diamond in the rough.
(One caveat: Be careful of houses that don’t look like they’ve been well maintained. There could be issues lurking that require expensive repairs or renovations. Always make a professional home inspection a condition of your offer.)
There are advantages to buying a home that doesn’t show well. They attract less interest and, therefore, less competition from other potential buyers. The listing price may be lower too.
Do you sometimes review the real estate ads in your local paper? Do you drive by an open house sign and feel the urge to stop and check it out? Those are common indications that, at least on some level, you’re thinking about the possibility of making a move.
But how do you decide if you should actually move?
The first step is to consider whether there are any practical reasons to consider buying a new home. What’s pushing you in that direction?
- Is your current home too small for your needs?
- Is the commute to work, for you or your spouse, too long? (Perhaps longer than you expected when you purchased the home?)
- Are there property features you would now like to have, such as a larger backyard or a more spacious kitchen?
- Has the neighbourhood changed in an undesirable way?
- Do you have personal reasons for wanting to move, such as a desire to be closer to relatives in another area?
Carefully consider those things that can’t change unless you move. For example, if a major highway was recently built near you, the ongoing sound of traffic isn’t going to go away. It’s now part of the neighbourhood.
If there are no practical reasons for moving, there may still be other reasons for wanting a new home. You may want to move your family to a better neighbourhood, with better schools or you may simply want a bigger home, with a larger backyard, more rooms, and a wider driveway.
There’s absolutely nothing wrong with simply wanting a better place than the one you have now. In fact, that is a common reason why many people make a move.
The point is, if you’ve been thinking about a new home for a while, perhaps now is the time to take the next step. A good REALTOR® can help you understand your options.
Putting your home on the market may be the last thing you have on your mind.
But as you know, life happens. Things change. You might unexpectedly find yourself in the position of wanting or having to quickly sell your home.
It happens more often than you might think. In fact, according to studies into why people sell their homes, more than a third are due to relatively quick and unexpected changes. Something happens – a job relocation, a lifestyle change – and the homeowner finds him or herself making a move.
In these situations, the biggest source of stress is caused by the need to prepare the current home for sale.
If you’ve lived in your house for a few years, or even just a few months, you know how quickly things can pile up. The garage and basement get filled with stored items. Things needing minor repairs get put on hold.
That’s why it’s a good idea, every so often, to inspect your property and ask yourself, “If I had to put my home on the market this month, what would I need to do?” Then plan to get those things done. That way, if you suddenly find yourself wanting to sell your home quickly and for the best price, you’ll be ready.
Day after day we receive reports that average home price in GTA climbed over 600K/625K/650K. While prices are growing with no trend to slow down, there are still options for first time home buyers and investors.
1. Ajax - Salem and Mandrake intersection, 3 bedroom, 3 bathroom - beautifully updated with modern kitchen, granite countertops, hardwood throughout main floor - asking price $369900. 6 days on the market
2. Brampton - Williams Parkway and Jordan Boulevard - lovely 3 bedroom, 2 bathroom home with finished basement and additional bedroom in the basement, listed for $284900, first day on the market
3. Clarington - Boswell and King - 3 bedroom, 3 bathroom corner unit, bright and spacious, 9' ceilings on the main floor - asking price $355000, just listed today
4. Georgina - brand new home from the builder, possession summer/fall 2016, Tarion New Home Warranty, 3 bedroom, 3 washroom, $389000
5. Milton - Harrison community - 2 bedroom, 2 washroom, attached garage, over 1000 sq feet, asking price $399900 first day on the market
6. Oshawa - Simcoe and Olive - 2 bedroom, 1 washroom, one of the largest units in the complex, completely renovated, $199000, 8 days on the market
7. Pickering - Kingston and Valley farm, 3 bedroom, 2 washroom, attached garage, finished basement, asking price $369900, 22 days on the market
8. Whitby - Country Lane and Taunton - lovely 3 bedroom, 3 bathroom home with finished basement, walk out to private yard, eat-in kitchen, only $399000
And there are many more for interested buyer. Unfortunately, they come and go fast....often before they appear on Realtor.ca.
Have questions? Want to book your private VIP showings? Call Marina 416-843-1515 today.
You’ve heard the story. Someone finds a home on the market that seems underpriced, grabs it, and subsequently discovers it’s worth tens of thousands of dollars more than the selling price.
What a bargain!
The truth is, bargains like that rarely happen.
Most properties sell for somewhere close to their market value. That’s why you need to find the perfect home for you, in the right neighbourhood, with a list price that is within your affordability range, and then buy that property for the lowest price your REALTOR® can negotiate.
When you shop for the right property at the right price, you have a good chance of finding and buying your dream home.
But if you go into the market with a plan to find a bargain, you risk overlooking those homes that might otherwise be great opportunities for you. Why? Because your price expectations will probably be a lot lower than the actual market prices.
The good news is that an experienced REALTOR® can help you find a home that’s perfect for you in every way: type, features, neighbourhood — and price.
As you tour a potential new home, you notice that the carpeting in the living room is stained. “Don’t worry about that,” says the homeowner, who senses your disapproval. “We’re going to get the carpeting professionally cleaned before we move.”
Should you take their word for it?
Regardless of how honest a seller may seem, never rely on a verbal promise.
Will they move that abandoned car in the back yard? Will they fix the crack in the front steps? Is that expensive-looking ceiling fan included with the house?
It’s a buyer’s market. It’s a seller’s market. You’ve probably heard these terms before. But what do they really mean when you’re considering buying or selling a home?
A buyer’s market exists when the supply of homes in a particular market exceeds the demand. Since there are more homes for sale, and fewer buyers, homes tend to stay on the market longer and prices may drop.
As a home shopper, you would have more time to look for a home, and more negotiating leverage.
In a seller’s market, by contrast, there are more buyers looking around than there are homes for sale. This would be an advantage when selling a home because the demand would likely cause the home to sell more quickly and for a better price.
As a home shopper, however, you would have to make decisions more quickly, since others may be interested in the same properties.
As you can see, each market has its pros and cons – for both buyers and sellers.
Luckily, a Realtor® who understands your local market can help you navigate through either market condition and help get you into your next dream home.
When you are getting your home ready for sale, you'd better keep your eyes open for all of the competition in the area. The very worst you could do with your listing - overprice it and scare away all the potential buyers. So, what does the real estate situation look like in Long Branch?
19 Freehold properties currently on the market, starting from $479000 for a 3 bedroom bungalow and all the way to $2100000 for a 3-bedroom, 2-storey mansion on water.
There are quite a few interesting listings:
1. 5-bedroom bungalow, on 30x134 lot, listed at $545000, offers held till the end of next week - would be interesting to see the "sold" price
2. 2 bedroom bungalow, listed at $649900, has been on a market for 112 days! And this is with average DOM in Toronto 5-7 days. Outdated kitchen, looks like original floors, tiny lot... Could someone please, tell the owner he needs a price adjustment?
3. 1 1/2 Storey on James sold conditionally, conditions expire tomorrow - this one would be interesting to see, as it is very similar to our home and just around the corner from us. It was listed for $859 000
4. 3 bedroom, 2-storey, $869000 - no pictures, very dissappointing!
5. The rest of the houses are over a million and at this point I dont believe we will have a lot of competition. If we could just finish the blooming renovations! Oh, well!
For more details, please, contact: Marina Gavrylyuk Real Estate Agent with Sutton Group Summit Realty