- What is a seller's market?
- What is a buyer's market?
- How much do I have to pay an agent to help me buy a house? You don't pay anything to the Realtor.
- How long does it take to sell my home?
- Is there a best time to sell my house?
- How much is my home worth?
- What should I do to get me home ready to go on the market?
- Should I make repairs before listing my home?
- How can I win a bidding war against multiple offers?
- What tips do you have for seniors looking to downsize?
- Should I sell in the spring or should I wait ?
- Should I sell my house before I purchase another house?
- Is it wise to list a home for sale at a high price so there is room to negotiate the price down?
- How do you know if you have outgrown your home?
- Should I do a home inspection?
A seller’s market occurs when there are more interested buyers than there are available properties. A real estate seller’s market puts the seller in a better negotiating position. This type of market typically results in more multiple offer situations, higher prices, and homes selling quicker.
A buyer’s market occurs when there are more available properties than there are property buyers. This puts the buyer in a good position as it provides them with more options and a better negotiating position when it comes to making an offer.
In Ontario, it is usually the seller who pays the commissions. When the sale of the home closes and the seller receives the money for the home, the total commission amount is taken off of the sale price and held by the listing brokerage.
Location, price, and other factors can affect your home sale. Most real estate agents know the average number of days on the market in their neighbourhoods by heart, so all you have to do is ask.
Property sells year-round. It is mostly a function of supply and demand, as well as other economic factors. The time of year you choose to sell can make a difference in the amount of time it takes and the final selling price. Generally, the real estate market picks up in the early Spring. During the summer, the market usually slows. The end of July and August is often the slowest month for real estate sales. The strong spring market often places upward pressure on interest rates, many prospective home buyers and REALTORS® take vacations during Mid-summer. After the summer slowdown, sales activity tends to pick up for a second, although less vigorous, season which usually lasts into November. The market then slows again as buyers, sellers, and REALTORS® turn their attention to the holidays. Then mid-January things start to pick up again to be able to move in the spring market.
A comparative market analysis is an informal estimate of market value performed by a real estate REALTOR® or broker. It is based on sales and listings that will compete with your property that are similar in size, style, and location. A range of values will be determined thus arriving at a probable market value. Many REALTORS® offer a free analysis anticipating they will have a new client. I am happy to come over to chat with you about the value of your home.
The way you live in a home and the way you sell a house are two different things. First and foremost, "declutter" countertops, walls, and rooms. Too many "things" make it difficult for the buyer to see their possessions in your rooms or on your walls however, don't strip everything completely or it will appear stark and inhospitable. Then clean and make attractive all rooms, furnishings, floors, walls, and ceilings. It's especially important that the bathroom and kitchen are spotless. Organize closets. Make sure the basic appliances and fixtures work and get rid of leaky faucets and frayed cords. Make sure the house smells good: from an apple pie, cookies baking or spaghetti sauce simmering on the stove. Hide the kitty litter, and possibly put vases of fresh flowers throughout the house. Pleasant background music is also a nice touch. The second important thing to consider is "curb appeal." People driving by a property will judge it from outside appearances and make a decision then as to whether or not they want to see the inside. Sweep the sidewalk, mow the lawn, prune the bushes, weed the garden, and clean debris from the yard. Clean the windows (both inside and out) and make sure the paint is not chipped or flaking. Also, make sure that the doorbell works.
Minor repairs before putting the house on the market may lead to a better sales price and is always a good idea. Buyers often include a contingency "inspection clause" in the purchase contract which allows them to back out if numerous defects are found. Once the problems are noted, buyers can attempt to negotiate repairs or lower the price with the seller.
1st you should always have an agent looking out for your best interest. The 2nd thing is to write a cover letter or send a video about your family and how much you would love to own their home. That may set you apart from the other offers. You should always go in with your best foot forward regarding price and conditions. You have to ask yourself, at what price am I willing to lose this house at.
Your downsize doesn’t have to be stressful, sad, or scary. Stay positive and get excited about a simpler life in a new place with less clutter. Most seniors know that there will come a day when they’ll have to downsize, either to simplify their lifestyle, to cut costs, to be closer to grandchildren, or to address medical needs. First off, talk to your family and your Real estate professional and then take your time, and don’t try to sort through your entire house in one day or weekend. A couple of weeks to a month is a more realistic timeline. Take it one room at a time, and take breaks throughout, through your duplicates and things you will never use again. Second, If you’re moving to an apartment or townhome, you might not have a garage or office space. Nearly everything in those spaces will need to be sold, donated, tossed, or relocated to other rooms. These areas might also be good items for consignment or garage sales.
Each situation is different. The First piece of advice with so much at stake, it's imperative that sellers contact a real estate professional to find out if the timing is right for them. The second piece of advice is depending on market conditions. I'm always happy to chat!
The problem is in a seller’s market you can sell but where do you go right?
Option #1 - Choose a longer closing date to give you time to find the perfect home.
Option #2 - You can opt for a “rent back”: you rent your home from the new buyer while you secure your next house.
Option #3 - Explore the other temporary living options—renting nearby, house sitting, living with family—and consider how each would be for a month to a year’s time. Have a plan B in case the reality of the stay is not what you anticipated.
In the real estate market right now in Niagara unless the property is exceptional, so unique, or so rare, pricing it too high could be a bad idea. Buyers are looking at the data to see what comparable homes are selling for. A savvy seller will agree to price his home at market value or just below to create more of a buyer frenzy to create a higher selling price and the home will not stay on the market as long as an overpriced home.
Many homeowners are surprised when they suddenly realize that the “perfect” home of just a few years ago no longer suits their needs. From an expanding family to the empty nest, it’s common for a home to no longer be the right fit. If you’re unsure if you’ve reached the point where a move is warranted, here are a few signs you’ve outgrown your home.
What if I sell my home and I'm not able to find another one? This question has come up a lot this year, and for good reason.
Many potential sellers are concerned that if they do decide to sell their home, they won’t be able to find one to buy in time for closing. Having a plan B, making a plan to live with family short term, look at new construction, renting back the property for a few months. There are options which can be discussed
Yes, A home inspection is suggested to be one of the most vital steps when purchasing a property. A professional inspector has a keen eye for how well the house has been taken care of. The inspectors can comment on structural and cosmetic issues, along with any local code issues. Moreover, a home inspector will help you better determine the home’s value.