The Toronto Real Estate MARKET Update- Mid-February 2011

I'm starting a New Condo Blog: www.TheCondoReport.ca

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From the Desk of Jas Jagpal - Sales Representative - RE/MAX - Feb 19, 2011

It's a very exciting time for me.  On a personal note: I'm getting my Broker's license and my wife her real estate license and she will be joining my team to help you buy, sell and invest in real estate.  Like myself, she has been in the service industry for over 20 years and currently assists clients with Investments products, RRSPs, RESPs, Life Insurance, etc.  I'm also writing a Blog for my children entitled:  NuggetsForMyChildren.com  -  I've been told it's a difficult read so I'm going to try to keep it simpler.  I can't write all day long... so let's get back to real estate...

 

How's the Real Estate Market?  We're getting Mixed Results.  There are fewer number of homes being sold... but the good news is the average price has increased by 5% in Feb 2011 from Feb 2010.

 

How's the Selling Market?  If I was thinking of selling.  Now would be the best time to do so.  There are FEW Listings on the Market.  Less competition usually means higher prices and a faster sale.

 

How's the Buyer's Market?  With new mortgage rules coming in April (30 year amortization from 35) and banks increasing mortgage rates... those 1st time Buyers who are sitting on the fence should try to buy now.  More importantly get yourself MORTGAGE APPROVED and have the bank HOLD the rate! Need a referral?  I can help.

 

How's the Investment Market? Investing is strong.  People are looking to broaden their investment portfolios and realize that Real Estate is a very profitable Long Term investment strategy.  Let me show you how to be a landlord and make money.

 

What New / existing VIP Condo Projects are available?  There are many.. a few are - Tridel's Aristo ; Westlake2 (South Etobicoke) ; Treviso (Duffering & Lawrence) ; Concord - Bayview & 401 ; EQ3 and Altitude 2 - Scarborough Town Centre; Tridel Ventus 2 - Kennedy & 401.  Signup for VIP updates.


Are you looking to Buy a Condo to live in?

If so and you have some equity the new way to do it is Buying an Assignment.  You buy below Market price.  Get Brand New luxury and save money.

Are you thinking of selling?

Have Jas and his team sell your home.  Get Jas's FREE Market Evaluation and a 45 minute no-nonsense consultation.  You get honest answers to your questions.  By the end you'll know what the market price is for your house/condo and what marketing strategies will help you sell.

First Time Buyer?

Make an appointment with Jas at his office and he will step-by-step walk you through and understand the Buying process.  We will never abandon you during the process and be with you even after you move into your new house/condo.  I've been told this 1 hour investment, is worth a million dollars!

Have any Real Estate related question? 

Ask Jas and he might Blog the answer on his Blog.

If you ever have any real estate, mortgage and financing questions than email me.  My real estate and mortgage team will be happy to answer your questions.

Check out: The Toronto Condo Real Estate website for great info on Buying, Selling, Assigning, Leasing and Investing in condos in Toronto, Scarborough, North York and the GTA.  

Jas Jagpal, RE/MAX - "Outstanding Agents, Outstanding Results"!

Cell: 647-272-6629  Off: 905-471-0002 

Personal Website: www.JasJagpal.com

Jas Jagpal, BSc. York University - Toronto RE/MAX Sales Representative
Cell: 647-272-6629  O: 950-471-0002   F: 905-471-7441

Sign Up For Vip Savings with Jas.  BUY • SELL • INVEST • Assign • Lease in the GTA.

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate Houses: www.JasJagpal.com
Blog Posted on: www.1stoprealestate.ca : www.TheCondoReport.ca : www.LinkToMorningside.com : www.MarkhamBoxgrove.com
Do you own a Condo at Scarborough Town Centre and looking to sell? 
Consider getting Jas's Flat FEE MLS Listing and SAVE Money.
© Jas Jagpal, 2011

 

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Tagged Buy Sell Invest in Toronto Elect Jas Jagpal for Realtor Jas Jagpal Real Estate Blog Markham Boxgrove Mid-February 2011 Real Estate Market Update North York Real Estate Pre-Construction VIP Condos RE/MAX Dynasty markham real estate scarborough real estate

Mid- November Toronto Real Estate Update

GTA REALTORS® Report Mid-Month Resale Housing Market Figures

TORONTO, November 16, 2010 -- Greater Toronto REALTORS® reported 3,076 sales through the Multiple Listing Service® (MLS®) during the first two weeks of November 2010.

This represented a 16 per cent decrease compared to the 3,666 sales recorded during the same period in November 2009. Year-to-date sales amounted to 78,526 – up slightly from the 2009 total.

“The number of transactions remained high relative to new listings through the first half of November, promoting a healthy rate of price growth compared to last year,” said Toronto Real Estate Board President Bill Johnston.

The average price for November mid-month transactions was $437,554 – up more than five per cent compared to the average of $415,066 recorded during the first 14 days of November 2009.

“Mortgage payments on the average priced home remain affordable in the GTA based. This is why the average selling price continues to increase,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

From: Toronto Real Estate Board

November2010-chart

Tagged Jas Jagpal Real Estate Markham Toronto Toronto Average Price Toronto Real Estate Update November 2010 scarborough real estate

Pricing Your Home To Sell is Worth $1000s when Priced Right!

Often Seller's are confused as to how much to "list" their home for sale as they are getting suggested list prices from Realtors that can vary $10K- $20K.  I explain to Sellers that "suggested List Price is an Art, not an exact Science".  However, if due diligence is done, the price variation should be within 5-10K.  More importantly, under normal conditions, the market sets the price that your home will sell and not the "listing" price.

You see, if you list your home at $420K.  Yet the comparable homes values are near $400K.  It won't matter that your Realtor® suggested your home was worth $420K, the market will only pay $400K.  Unfortunately many Realtors inflate their suggested listing price to get your listing, or accept Seller's onerous listing price, knowing that in a month when there are no offers, you will be forced to reduce your pricing.  You lose precious time and energy when you do this and Buyer agents will use your listing as a comparison to sell other listings to their Buyers at lower prices.  Eventually your home carries a "stigma", that there must be something wrong with it, if it stays on the market too long.  And the value may dip below $400K because of this.  So when you reduce the price offers may only come at $390 or less.  Bottom line: you will often suffer when you over price your listing. Don't do it, except in a couple of cases!  "Your local market has very few listings, there are no comparable homes and you are just testing the market".

Whereas, time after time again, we see that listings that are priced right, sell faster and at top dollars.  So if you listed at $300K.  Yet the market showed your home is worth $310K.  Then you will get multiple offers and your home will sell at $310K.  Not only would you have sold within the first two weeks.  You also get fair market value for your home.  Just think, if you were a Buyer, you wouldn't  overpay for a home, just because it is listed $20K more than it's worth.  Buyer agents can get in a lot of trouble, if they misdirect their client to pay more for a home than it's really worth!  The Real Estate and Business Brokers Act 2002, clearly directs registrants to provide fiduciary duties of "Competence & Good Faith".  

So ensure you price your home to sell!  And any Realtor® worth his medal, whose looking out for your best interest, as a Buyer or Seller, will always guide you and tell you how it is, and how it should be... irrespective if they got to list and your sell your home or not.

———-  Jas Jagpal is a Re/Max Sales Representative, who helps families in Markham, Scarborough, Pickering and the GTA in the sale or purchase of their home.  Jas’s professionalism and his unique 20% commission sharing program for charitable organizations distinguishes him as a leader in innovation and charity.  If you are charitable organization,  looking to fundraise and want to partner with extraordinary agent who is honest and upfront, then give Jas a call 647-272-6629.  All buyers and sellers are encouraged to visit Jas's website and download his personal brochure to get to know him better.  Affiliate with Jas, help him raise 50K in 2010 for charities and Make Good Things Happen.  Thank you. ——–

Tagged listing to sell Jas Jagpal fiduciary duties home to sell listing price markham real estate multiple offers pricing right realtor rebba2002 remax scarborough real estate toronto real estate
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