Multiple Offers – Durham Market

Well I cannot believe the prices some of these homes are selling for?   Please, please, please make sure when you are purchasing a home to use a LOCAL agent … they know the neighbourhoods and the comparables.   When you use an agent who is from another area, they don’t.   People are paying ridiculously high prices for homes which in my humble opinion aren’t worth it.

I understand there is a shortage of listings but does that mean Buyers are to be pressured into paying some of 

these crazy prices… I say NO !!  I have told my clients on many occasions, walk away !

People are going in firm on homes that clearly have issues with no inspection conditions.  I have been in numerous houses and after inspections found mould in the attics, faulty wiring, etc.   Make sure you know what you are getting into and that your agent knows the age of the property etc.  

It is great to win in multiple offers and see your happy Buyer’s face but make sure you are doing it for the right reasons.   I always say, “If I meet you at the local grocery store or park, I don’t want to run and hide because I feel you overpaid.”   People hire Realtors to protect their interest and from some of the shananigans I have seen lately, I have to wonder.

If you are a Seller, this clearly won’t mean much other than you are going to get TOP dollar for your home right now.  But if you are Buyer, choose wisely.   Choose someone who knows the market and is diligently working on your behalf to protect your interests and your money.  

Ok my rant is over … just looking at some of the sales the past few weeks and shaking my head. I hope the market continues to stay strong but if it doesn’t, I hope you have a lot of equity in some of these homes because if the market drops … they won’t even be able to sell them and get their initial downpayment out of them.

All I am saying is GET REPRESENTATION that you TRUST.  Yes it is great to win but at what cost 

Good luck to all the buyers out there and to all the sellers… who are getting top dollar for their homes.  If you are thinking of selling – TRUST ME, now is the time to sell.  I have never seen a market so busy and desperate for listings.

To your success !!!  

If you have any real estate questions, please feel free to call me or email me … I love what I do and will be only too happy to answer them.  Cheers !!!

Looking for a Pickering Realtor?

Pickering Homes For Sale, Pickering Real Estate, Pickering MLS, North Pickering, South Pickering, Buying or Selling,

Make sure if you are looking for a home in Pickering, Ontario – check out this page.  It is specific to Pickering, Ontario homes for sale – you can search by neighbourhood, area (east, west, north, south) and also by home type, detached, semi, condo, townhouse.

I have lived in Pickering for 23 years and know what is going on and where !  I was an active member on the Stop The Stink campaign as well as the Pickering Municipal Election.  If you need to know something about Pickering, I’m your girl !  

Looking forward to your comments about the page and please like it if you found the information valuable to you.

To your success !  Cheers !

Work, Rest, Play and Invest in Pickering, Ontario

Search North Pickering and South Pickering Homes

Searching for the home of your dreams in Pickering, Ontario? Whether it is south Pickering, near the lake or north Pickering near the 407, the opportunities are endless. North Pickering, South Pickering, East Pickering or West Pickering… I can help you decide which neighbourhood best suits your needs. Pickering is divided into many different neighbourhoods. Amberlea, Brockridge, Duffin Heights, Dunbarton, Highbush, Rosebank, Rougemount, Village East, West Shore and so on. Having lived in Pickering for 20 plus years, I can tell you about the schools, shopping, transit and more.
Here is a little video from the City of Pickering highlighting our beautiful downtown. Live, Work, Play and Invest in Pickering.
Using my Preferred Buyer MLS® Email Notification Program, you can search a huge inventory of MLS® property listings and view information about homes that are currently available not only in the Pickering area, but in any region of Durham. Based on your criteria, I can quickly locate homes complete with pictures and descriptions. You’ll be notified as new homes come on the market daily by email, allowing you to see the hottest new Pickering real estate listings first, before they’re sold or appear on MLS!

October Market Watch Information from TREB

October 2012 – Market Watch States –  Average Price Up in October, Despite Fewer Sales

November 5, 2012 — Greater Toronto Area REALTORS® reported 6,896 transactions through the TorontoMLS system in October 2012 – a decrease of 7.1 per cent compared to October 2011. There were two more business days in October 2012 versus October 2011. On a per business day basis, transactions were down by 15.6 per cent.*

“Sales have decreased in the second half of this year compared to 2011, especially since the onset of stricter mortgage lending guidelines at the beginning of July. The prospect of higher monthly mortgage payments due to the reduced maximum amortization period has prompted some households to delay their home purchase,” said Toronto Real Estate Board (TREB) President Ann Hannah.

The average selling price for October transactions was $503,479 – up 6.2 per cent compared to October 2011. The MLS® Home Price Index composite benchmark price, which allows for an apples-to-apples comparison in terms of home attributes, was up by 5.1 per cent.

“We continue to see price increases well above the rate of inflation. Active listings have remained low from a historic perspective, so substantial competition between buyers still exists, especially for low-rise homes,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

“It should be noted, however, that the annual rate of price increase has been edging lower over the past few months as the market has gradually become better supplied,” continued Mercer.

*NOTE: The majority of transactions are entered into the TorontoMLS system on business days. There was a mismatch of two business days in September and October of 2012 compared to the same months last year. This is why sales on a per business day basis were noted in releases dealing with these months. The business day anomaly between the two months has now balanced out.