Is your condo priced right to sell in today’s market?
What is the first impression that your condo makes to a buyer?
These are the most important factors in selling your home.
One that is priced right and shows well SELLS.
Buyers have more to choose from and homes that are well furnished, decluttered and well maintained have a huge advantage.
Having your condo staged makes a huge impression on prospective buyers.
The first impression is that the home shows perfectly and makes the buyers want to stay in your home longer. First impressions are made in 30 seconds or less.
Staged homes are here to stay. It is a new standard in today’s selling market and more and more people are taking advantage of this service. Why? It gets more money for the home and they sell faster.
Call our office and talk to us about selling your condo today! We offer a complimentary professional consultation by a home stager as part of our service!
Tuesday, March 3, 2009
Tuesday, February 10, 2009
Home Buyer Highlights of the 2009 Federal Budget
Tax credits for home buyers and home owners
Home renovation tax credit
Under a new temporary renovation tax credit, home owners can claim a 15 percent non-refundable tax credit for eligible expenditures over $1,000 but not more than $10,000, for a maximum credit of $1,350 ($9,000 × 15%). The credit is available for eligible costs of work performed or goods acquired after January 27, 2009 and before February 1, 2010 (unless the expenditure is made under an agreement in place on or before January 27, 2009).
Family members (spouses or common-law partners and their children under 18) are subject to a single limit based on their pooled expenditures. The credit is only available for a dwelling that is eligible to be the family’s principal residence or that of one or more of their other family members.
Expenditures will qualify for the credit if they are incurred in relation to a renovation or alteration of an eligible dwelling, provided the renovation is of an enduring nature and is integral to the dwelling. Examples include new furnaces, windows and decks. Eligible expenditures include labour costs, professional fees, building materials, fixtures, equipment rentals and permits.
First-time home buyers’ credit
First-time home buyers who acquire a qualifying home after January 27, 2009 may be entitled to claim a new non-refundable tax credit up to $5,000 and worth up to $750 ($5,000 × 15%).
To qualify, neither the individual nor his or her spouse or common-law partner can have owned and lived in another home in the calendar year of the new home purchase or in any of the four preceding calendar years. The credit can be claimed by either the purchaser or by his or her spouse or common-law partner.
The credit will also be available for certain home purchases by or for the benefit of an individual eligible for the disability tax credit.
Home Buyers’ Plan threshold increased
The budget increases the amount that first-time home buyers can withdraw tax-free from a Registered Retirement Savings Plan (RRSP) to purchase or build a new home to $25,000 (up from $20,000). The new limit applies to withdrawals made after January 27, 2009.
Information provided by KPMG.
For more information, please contact me anytime!
Home renovation tax credit
Under a new temporary renovation tax credit, home owners can claim a 15 percent non-refundable tax credit for eligible expenditures over $1,000 but not more than $10,000, for a maximum credit of $1,350 ($9,000 × 15%). The credit is available for eligible costs of work performed or goods acquired after January 27, 2009 and before February 1, 2010 (unless the expenditure is made under an agreement in place on or before January 27, 2009).
Family members (spouses or common-law partners and their children under 18) are subject to a single limit based on their pooled expenditures. The credit is only available for a dwelling that is eligible to be the family’s principal residence or that of one or more of their other family members.
Expenditures will qualify for the credit if they are incurred in relation to a renovation or alteration of an eligible dwelling, provided the renovation is of an enduring nature and is integral to the dwelling. Examples include new furnaces, windows and decks. Eligible expenditures include labour costs, professional fees, building materials, fixtures, equipment rentals and permits.
First-time home buyers’ credit
First-time home buyers who acquire a qualifying home after January 27, 2009 may be entitled to claim a new non-refundable tax credit up to $5,000 and worth up to $750 ($5,000 × 15%).
To qualify, neither the individual nor his or her spouse or common-law partner can have owned and lived in another home in the calendar year of the new home purchase or in any of the four preceding calendar years. The credit can be claimed by either the purchaser or by his or her spouse or common-law partner.
The credit will also be available for certain home purchases by or for the benefit of an individual eligible for the disability tax credit.
Home Buyers’ Plan threshold increased
The budget increases the amount that first-time home buyers can withdraw tax-free from a Registered Retirement Savings Plan (RRSP) to purchase or build a new home to $25,000 (up from $20,000). The new limit applies to withdrawals made after January 27, 2009.
Information provided by KPMG.
For more information, please contact me anytime!
Monday, February 2, 2009
January Numbers Are In!
Despite January's freezing temperatures and snow, the MLS Districts C01 & C08 (Downtown Toronto) saw 159 sales for the month! There are many people moving for various reasons. With people transferring to new jobs, upsizing and downsizing, our real estate market is very active. Mortgage rates are low!
Now is a great time to buy or sell!
Now is a great time to buy or sell!
Friday, January 23, 2009
New Low Mortgage Rates!
CURRENT MORTGAGE RATES
January 21, 2009
Prime Rate 3.00%
Variable Rates:
Fully Open Variable 4.00% (Prime rate + 1.00%)
Variable Closed 3.80% (Prime rate + 0.80%)
Fixed Rates:
1 year closed 3.99% 3 year closed 4.75%
4 year closed 4.39% 5 year closed 4.49%
7 year closed 5.50% 10 year closed 6.35%
*Quick close preferred rates available
**No down payment? Cash back mortgages available
CINDY MASON
Mortgage Agent Lic. No. M08004144
TEL. 1-800-441-5425 EXT.1
FAX: 905-852-1379
CELL: 1-800-441-5425 EXT.2
CMASON@MORCAN.CA
January 21, 2009
Prime Rate 3.00%
Variable Rates:
Fully Open Variable 4.00% (Prime rate + 1.00%)
Variable Closed 3.80% (Prime rate + 0.80%)
Fixed Rates:
1 year closed 3.99% 3 year closed 4.75%
4 year closed 4.39% 5 year closed 4.49%
7 year closed 5.50% 10 year closed 6.35%
*Quick close preferred rates available
**No down payment? Cash back mortgages available
CINDY MASON
Mortgage Agent Lic. No. M08004144
TEL. 1-800-441-5425 EXT.1
FAX: 905-852-1379
CELL: 1-800-441-5425 EXT.2
CMASON@MORCAN.CA
Monday, January 19, 2009
Start of 2009
The Toronto Real Estate Board releases statistics for the first half of 2009.
Greater Toronto REALTORS® reported 888 sales during the first
half of January compared to 1,776 in the first 15 days of 2008. “According to Statistics Canada
the economic situation throughout Canada changed noticeably over the past year with job losses
in the fourth quarter of 2008. Toronto is not immune to this, the GTA housing market has been
impacted,” according to TREB President Maureen O’Neill.
Prices have been affected, as expected. Condos and homes are still selling, but it is increasingly important to price accurately, stage professionally and hire the right agent to aggressively market the property.
This is good news for anyone moving up in real estate now. Although, you will accept less money for your current home, if you are buying up, you are likely to buy lower. I'm recommending now as a great time to buy investment properties or move up to that larger home you have been dreaming about. Many people, if moving from a small condo, are considering keeping their condo as an investment property. I highly recommend this option if you are in a financial position to do so and only if the condo can carry itself (the rent can cover all expenses). There are obviously risks involved when investing in real estate and it is important to educate yourself with the advice of a professional realtor, lawyer and accountant.
In every market, there are people who see the negative only and there are people who see the opportunities.
Greater Toronto REALTORS® reported 888 sales during the first
half of January compared to 1,776 in the first 15 days of 2008. “According to Statistics Canada
the economic situation throughout Canada changed noticeably over the past year with job losses
in the fourth quarter of 2008. Toronto is not immune to this, the GTA housing market has been
impacted,” according to TREB President Maureen O’Neill.
Prices have been affected, as expected. Condos and homes are still selling, but it is increasingly important to price accurately, stage professionally and hire the right agent to aggressively market the property.
This is good news for anyone moving up in real estate now. Although, you will accept less money for your current home, if you are buying up, you are likely to buy lower. I'm recommending now as a great time to buy investment properties or move up to that larger home you have been dreaming about. Many people, if moving from a small condo, are considering keeping their condo as an investment property. I highly recommend this option if you are in a financial position to do so and only if the condo can carry itself (the rent can cover all expenses). There are obviously risks involved when investing in real estate and it is important to educate yourself with the advice of a professional realtor, lawyer and accountant.
In every market, there are people who see the negative only and there are people who see the opportunities.
Wednesday, October 22, 2008
Interest Rate Drop
Well... It seems that every cloud has its silver lining. While the real estate market, may be slowing, what a great time to buy as interest rates are lowered yet again.
Bank of Canada reduced the overnight rate to 2.25%, therefore TD Prime rate is now 4.00%. The change will be seen in line of credit lending rates as of October 22nd, and will be reflected in variable rate mortgages as of November 1, 2008.
Bank of Canada's next scheduled overnight rate announcement: December 9, 2008.
As always, I remain available to answer any real estate questions you have.
Bank of Canada reduced the overnight rate to 2.25%, therefore TD Prime rate is now 4.00%. The change will be seen in line of credit lending rates as of October 22nd, and will be reflected in variable rate mortgages as of November 1, 2008.
Bank of Canada's next scheduled overnight rate announcement: December 9, 2008.
As always, I remain available to answer any real estate questions you have.
Friday, October 17, 2008
Distillery: Rising Prices in a Cooling Real Estate Market
Despite media reports of a struggling economy and doom and gloom for the real estate market, prices have been strong and properties are still selling in our fine Distillery District!
As of the end of September this year, average prices in our Toronto Real Estate Board’s district C08 are actually up, on average, by approximately $20,000. On October 17th, the Toronto Real Estate Board reported that “Downtown East (C08) experienced a 16 per cent overall increase in activity compared to mid-October 2007 primarily as a result of condominium apartment sales.”
Now is a great time to sell if you are considering a move in the near future. If not, now is a great time to hold on to your property for the long run. Even if properties decrease in value in the coming months, real estate has historically been a sound investment over the long term. Buyers tend to buy in a high market because as the market rises, they become fearful of being priced out of the market and missing out on a property. This amazes me. A down market, like the one we are experiencing now, is actually a great time to buy! Everyone has heard the sell high, buy low motto. Unlike last year, when prices were rising faster than buyers could sign offers, buyers have a lot of choices and more flexibility negotiating today.
Even in a declining real estate market, does Distillery District have enough to rise to the top? What an opportunity for our developing area to gain ground during this time. With all the new construction on board, Distillery is gaining public awareness at a fast rate. Where can you live in this City with so much character as Distillery has to offer? As other areas may be commoditized, a condo in Distillery is much more than a concrete box in the sky. Distillery is a lifestyle, with a community neighbourhood association, fundraisers, socials, volunteer gardening and spirit.
Especially in such economic and political uncertainty, great neighbours and community spirit are what we need to flourish and set ourselves apart from other areas of Toronto.
I remain yours and here to answer any questions about our local real estate market and to offer information or advice upon request.
Rachel O’Hearn, Salesperson
Re/Max All-Stars Realty Inc., Brokerage
416.597.0077
As of the end of September this year, average prices in our Toronto Real Estate Board’s district C08 are actually up, on average, by approximately $20,000. On October 17th, the Toronto Real Estate Board reported that “Downtown East (C08) experienced a 16 per cent overall increase in activity compared to mid-October 2007 primarily as a result of condominium apartment sales.”
Now is a great time to sell if you are considering a move in the near future. If not, now is a great time to hold on to your property for the long run. Even if properties decrease in value in the coming months, real estate has historically been a sound investment over the long term. Buyers tend to buy in a high market because as the market rises, they become fearful of being priced out of the market and missing out on a property. This amazes me. A down market, like the one we are experiencing now, is actually a great time to buy! Everyone has heard the sell high, buy low motto. Unlike last year, when prices were rising faster than buyers could sign offers, buyers have a lot of choices and more flexibility negotiating today.
Even in a declining real estate market, does Distillery District have enough to rise to the top? What an opportunity for our developing area to gain ground during this time. With all the new construction on board, Distillery is gaining public awareness at a fast rate. Where can you live in this City with so much character as Distillery has to offer? As other areas may be commoditized, a condo in Distillery is much more than a concrete box in the sky. Distillery is a lifestyle, with a community neighbourhood association, fundraisers, socials, volunteer gardening and spirit.
Especially in such economic and political uncertainty, great neighbours and community spirit are what we need to flourish and set ourselves apart from other areas of Toronto.
I remain yours and here to answer any questions about our local real estate market and to offer information or advice upon request.
Rachel O’Hearn, Salesperson
Re/Max All-Stars Realty Inc., Brokerage
416.597.0077
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