Wednesday, April 6, 2011
Vaughan Homes For Sale Real Estate MLS Property Search March 2011 Update
Vaughan Real Estate - Vaughan Homes For Sale - Market Update - March 2011
Hot off the press. The Toronto Real Estate Board published March market statistics by district yesterday and I have reviewed the key indicators and will interpret the March numbers for the Vaughan Real Estate Market. The market is definitely hot right now and the spring market has begun early. The bulk of what we experienced in March was a function of two key factors. One was a factor of buyers trying to buy before interest rates go up and they will and buyers trying to beat the March 18th deadline with respect to the mortgage rule changes that saw 35 year amortization periods disappear and have buyers put down more money as a downpayment. If you need more info on the changes, call me directly or call one of my mortgage specialists and they will be glad to answer all your questions. The other key factor was that market conditions were tighter in March compared to last year. With competition between buyers, we have seen a very strong but sustainable rate of price growth. Right now, I will provide my observations, for those that are interested, on the Vaughan Real Estate Market. Here are some quick facts and a brief market update on Vaughan Real Estate and Vaughan Homes For Sale for March 2011.
In my last update, I spoke about a healthy market when it comes to Vaughan Real Estate and that is exactly what we are expereincing when it comes to Homes For Sale in Vaughan. As you may know by now, I am all about facts and here are the facts for Homes for Sale in Vaughan for March 2011.
The Vaughan Real Estate market showed that inventory was down substantially for March versus the prior year for the same month. We had 434 active listings this past March versus 567 last March. That represents 23% fewer lisitngs. In a nutshell, Vaughan is experiencing a lack of listings right now. That bodes well for sellers so if you are thinking about selling, now might be a good time to put your Vaughan home up for sale.
The Vaughan Real Estate Market for March had 271 sales versus 300 transactions last March. These numbers indicate that the Vaughan Real Estate Market remains strong, is quite stable but we are lacking some quality listings right now.
When we look at the average selling price in the Vaughan Real Estate Market for March 2011, it was at $550,252 which is up 6.40% versus lastMarch's number of $517,153. Again, the Vaughan Real Estate Market remains positive relative to average selling price versus the prior year and with more buyers looking at fewer available units, the numbers make sense. The old supply and demand theories at work again.
Homes for Sale in Vaughan were on the market for an average of only 20 days in February, which is actually higher than last March's number of 17. Again more buyers looking at fewer available units and these buyers are buying quickly. These numbers indicate that the Vaughan Real Estate Market remains healthy and that it is a sellers market right now.
That's pretty much it for Vaughan Real Estate and Vaughan Homes For Sale for March. Watch for my April Market Update in a few weeks.
If you want to see these market update numbers for any month, please visit my website at www.AtYourServiceAlways.com and look at the left menu for the month you are looking for. You can check any district in the GTA.
By the way, when you are dealing with any Realtor, make sure they know these facts as well. If not, find one that does. Have a great day.
Friday, March 11, 2011
A REAL EXAMPLE OF WHY ESTABLISHING THE RIGHT PRICE IS SO CRITICAL
When it comes to Vaughan Real Estate and pricing a home for sale in Vaughan, we keep hearing how it important it is to set the right price when you or your Vaughan Real Estate Agent go to market your home, however, I cringe every time I see home owners making a mistake by over pricing their homes from the get go and in the end, they end up selling their Vaughan home for less than what the market would bear if it was priced properly.
Vaughan homeowners work hard for their money, yet it is very frustrating to see these same people leaving crumbs on the table when it comes to selling what they worked so hard to get.
Some get it while others simply don't. I want to share with you an example of homes that were sold and marketed properly and homes that were not priced well and sold well below market value. Maybe pictures will help more people understand the importance, so I have a perfect example for you.
There are all kinds of examples and I've picked one of many in the Vaughan market. This is probably the best example as all three homes are virtually identical. As a matter of fact, they are all the same model, builder and neighbourhood. Please, please, please, if you are unsure of what you should price your home at, please call me or email me and I will gladly offer my expertise. Call me at 416-574-8778 or email me at joeandreoli@yahoo.ca or visit my website at http://www.VaughanHomesForSale.com I want to see you get top dollar and sell it quickly. Here goes and I hope more people understand this very important concept. DO NOT OVER PRICE YOUR VAUGHAN HOME.
Example A - a four bedroom home in Vaughan went on the market for $998,800 and sold in 48 days for $960,000. This was priced at market value.
Example B - another four bedroom home in the same area within 500 metres of example A was originally priced at $1,048,000 and after 84 days on the market, the listing was terminated and after a few weeks, was listed again at $998,800 and it sold for $985,000 after only 35 days.
Example C - I really feel bad for the homeowner and the agent. This home, during the same timeframe as above was priced at $1,100,000 and it sat on the market for 138 days. Then it was reduced to $939,000 and further lowered to $914,900. After two months, it just sold for $870,000. The buyers picked up a great house at bargain prices. What a steal. Shame on the homeowners and agent.
This is a real example. It just happened. If the home was priced properly, it would have sold quickly. This occurred during a hot market. Once homes are on the market for awhile, buyers start to think "What is wrong with the house" and it doesn't sell. To make matters worse, the example "C" was marketed more than the other two examples. They were "motivated sellers" at the end of it all.
I hope this example helps people thinking of selling. If you need any assistance, please call me directly. Have a great day.
VAUGHAN HOMES FOR SALE - A REAL EXAMPLE OF WHY ESTABLISHING THE RIGHT PRICE IS SO CRITICAL
Vaughan Real Estate Call Joe Andreoli
Tuesday, December 7, 2010
Vaughan Real Estate - Vaughan Homes For Sale - Market Update
Family, friends and clients keep asking for my professional opinion on Vaughan Real Estate so I thought I would provide my observations for those that are interested. Here are the facts and a quick market update on Vaughan Real Estate and Vaughan Homes For Sale for November.
I keep talking about a balanced market when it comes to Vaughan Real Estate and that is exactly what we are expereincing when it comes to Homes For Sale in Vaughan. For those that know me, I am all about facts. After all, you can't manage what you can't measure. The numbers I will be quoting are from TREB and I will be talking specifically about Vaughan Real Estate and Homes For Sale in Vaughan.
The Vaughan Real Estate market showed a 13% decrease in inventory for November compared to October 2010, however, there were 17% more homes for sale in Vaughan compared to the same month in 2009. The Vaughan Real Estate Market for November had 257 sales versus 288 in the month of October and compared to 271 last November. These numbers indicate that the Vaughan Real Estate Market has stabilized and remains quite healthy.
When we look at the average selling price in the Vaughan Real Estate Market for November, it was at $531,000 which is flat versus the prior month, however, it was up 4.2% versus last November. Again, the Vaughan Real Estate Market remains positive relative to averaage selling price versus the prior year.
Homes for Sale in Vaughan were on the market for an average of 32 days, which is up 6 days versus October and up by 10 days versus last November. These numbers indicate that the Vaughan Real Estate Market remains healthy and seems to be stabilizing.
Finally, I want to mention that when it comes to Vaughan Real Estate, I like to prove the media wrong. AGAIN. According to the media, there's been nothing but doom and gloom this year. WRONG. If you look at the Vaughan Real Estate Market, there have been 2,272 sales year to date versus 2,319 year to date sales for the same time last year. There is actually more inventory versus last year. Last year there were 3,748 homes for sale in Vaughan compared to 4,257 homes for sale in Vaughan year to date. More selection this year when it comes to Vaughan Real Estate. Average selling price YTD this year is almost $517,000 versus an average selling price for a home in Vaughan last year of $465,000. The average home price YTD increased by 11%. The media reports doom and gloom. I report the facts for Vaughan Real Estate.
If you want to see these market update numbers for any month, please visit my website at www.AtYourServiceAlways.com and look at the left menu for the month you are looking for. You can check any district in the GTA.
By the way, when you are dealing with any Realtor, make sure they know the facts as well. If not, find one that does. Have a great day.
I keep talking about a balanced market when it comes to Vaughan Real Estate and that is exactly what we are expereincing when it comes to Homes For Sale in Vaughan. For those that know me, I am all about facts. After all, you can't manage what you can't measure. The numbers I will be quoting are from TREB and I will be talking specifically about Vaughan Real Estate and Homes For Sale in Vaughan.
The Vaughan Real Estate market showed a 13% decrease in inventory for November compared to October 2010, however, there were 17% more homes for sale in Vaughan compared to the same month in 2009. The Vaughan Real Estate Market for November had 257 sales versus 288 in the month of October and compared to 271 last November. These numbers indicate that the Vaughan Real Estate Market has stabilized and remains quite healthy.
When we look at the average selling price in the Vaughan Real Estate Market for November, it was at $531,000 which is flat versus the prior month, however, it was up 4.2% versus last November. Again, the Vaughan Real Estate Market remains positive relative to averaage selling price versus the prior year.
Homes for Sale in Vaughan were on the market for an average of 32 days, which is up 6 days versus October and up by 10 days versus last November. These numbers indicate that the Vaughan Real Estate Market remains healthy and seems to be stabilizing.
Finally, I want to mention that when it comes to Vaughan Real Estate, I like to prove the media wrong. AGAIN. According to the media, there's been nothing but doom and gloom this year. WRONG. If you look at the Vaughan Real Estate Market, there have been 2,272 sales year to date versus 2,319 year to date sales for the same time last year. There is actually more inventory versus last year. Last year there were 3,748 homes for sale in Vaughan compared to 4,257 homes for sale in Vaughan year to date. More selection this year when it comes to Vaughan Real Estate. Average selling price YTD this year is almost $517,000 versus an average selling price for a home in Vaughan last year of $465,000. The average home price YTD increased by 11%. The media reports doom and gloom. I report the facts for Vaughan Real Estate.
If you want to see these market update numbers for any month, please visit my website at www.AtYourServiceAlways.com and look at the left menu for the month you are looking for. You can check any district in the GTA.
By the way, when you are dealing with any Realtor, make sure they know the facts as well. If not, find one that does. Have a great day.
Friday, August 20, 2010
Thursday, April 29, 2010
Monday, January 11, 2010
How the new HST will impact real estate - A must read
I hope everyone enjoyed the holiday season. Now it's back to reality. It's kind of nice to get back into a routine not only for myself, but for my kids as well. Now that the holidays are over, we need to focus on this HST tax that is coming this July. Not much is being said about it right now. That can be attributed to the power of the media. They are not really putting much behind this. They will once they realize the true impact.
By the time they get beind it, it will be too late to change. The damage will have been done. The new 13% harmonized sales tax comes into effect in Ontario on July 1, 2010, and it will likely hit the whole housing market hard. If you haven't bought or sold by July 1, you may well be out of luck. I know my clients really haven't given it much thought. When I bring it up, some can't be bothered because they really don't understand the true impact.
I believe there are going to be a lot of very surprised people on July 1. This is a huge tax increase that is currently below the raadar screen.
It's true that resale houses will not be taxed, however, everything to do with the sale will be -- the house inspection, the mortgage insurance, the agent's commission, the moving costs and the legal fees.
Once you do the math, the extra tax on a resale house priced at $370,000 will come in at about $2,000. Keep in mind that not many homes in a city like Vaughan sell for that type of price . Most sell for substantially more so you would be looking at an even bigger tax grab.
It's enough to make you wonder exactly why you're thinking of moving. Or to get you packing your bags and calling the mover today.
For new home buyers, it's even worse, however, it's not as bad as it was originally expected to be. Under pressure from groups like the Ontario Home Builders Association, the province has decided not to levy the tax on the first $400,000 of any new home purchase. (GST has been payable for a number of years but builders tend to hide it in the house price.)
So on a $500,000 house, the extra HST hit will be $6,000 instead of $30,000 (builders get a 2% tax credit that lowers the overall tax hit from 8% to 6%).
We should actually be thankful that the government decided to make a change to their proposed tax plan on new homes. If they did not make the change, it would have crippled new home developments across the city. Without that change, the loss of a potential 21,200 jobs in the GTA alone looked probable. That's enough to scare off first-time home buyers and potentially many other people struggling to make ends meet.
This new HST will impact many things you haven't even thought of yet -- but the housing-related taxes are killers.
Here's how new HST tax adds to the cost of a sale on a house less than $400,000:
Realtor Commission $1,100- $1,600
Mortgage insurance $475
Legal costs $85
Home Inspection $35
Title Insurance $10
Total $1,705 -$2,205
It all adds up. In a nutshell, if you plan on buying, do it now. If you plan on selling, the spring market will be hot. If you need any further info, give me a call or email me with your questions or concerns.
Joe
At Your Service....Always
By the time they get beind it, it will be too late to change. The damage will have been done. The new 13% harmonized sales tax comes into effect in Ontario on July 1, 2010, and it will likely hit the whole housing market hard. If you haven't bought or sold by July 1, you may well be out of luck. I know my clients really haven't given it much thought. When I bring it up, some can't be bothered because they really don't understand the true impact.
I believe there are going to be a lot of very surprised people on July 1. This is a huge tax increase that is currently below the raadar screen.
It's true that resale houses will not be taxed, however, everything to do with the sale will be -- the house inspection, the mortgage insurance, the agent's commission, the moving costs and the legal fees.
Once you do the math, the extra tax on a resale house priced at $370,000 will come in at about $2,000. Keep in mind that not many homes in a city like Vaughan sell for that type of price . Most sell for substantially more so you would be looking at an even bigger tax grab.
It's enough to make you wonder exactly why you're thinking of moving. Or to get you packing your bags and calling the mover today.
For new home buyers, it's even worse, however, it's not as bad as it was originally expected to be. Under pressure from groups like the Ontario Home Builders Association, the province has decided not to levy the tax on the first $400,000 of any new home purchase. (GST has been payable for a number of years but builders tend to hide it in the house price.)
So on a $500,000 house, the extra HST hit will be $6,000 instead of $30,000 (builders get a 2% tax credit that lowers the overall tax hit from 8% to 6%).
We should actually be thankful that the government decided to make a change to their proposed tax plan on new homes. If they did not make the change, it would have crippled new home developments across the city. Without that change, the loss of a potential 21,200 jobs in the GTA alone looked probable. That's enough to scare off first-time home buyers and potentially many other people struggling to make ends meet.
This new HST will impact many things you haven't even thought of yet -- but the housing-related taxes are killers.
Here's how new HST tax adds to the cost of a sale on a house less than $400,000:
Realtor Commission $1,100- $1,600
Mortgage insurance $475
Legal costs $85
Home Inspection $35
Title Insurance $10
Total $1,705 -$2,205
It all adds up. In a nutshell, if you plan on buying, do it now. If you plan on selling, the spring market will be hot. If you need any further info, give me a call or email me with your questions or concerns.
Joe
At Your Service....Always
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