Thursday, October 12, 2017

2137 Blue Ridge Crescent, Pickering - JUST LISTED

Don't Miss Out on This Beauty!

$669,900


 Location, Location, Location!! Stunning Family Home In High Demand Brock Ridge Community. . This Pampered Home Has 3 Bedrooms, 2.5 Baths And Features Patio, 2-Car Garage, And A Terrific Finished Basement. Fresh Paint Everywhere. New Carpet. An Affordable Dream House. No Pets And Non Smoker. Nothing To Do But Move Right In. Bright Eat In Kitchen With W/O To Fully Fenced Backyard. $669,900.   Best deal in the neighbourhood.

Friday, October 6, 2017

DURHAM REGION HOMES STILL HOLDING THEIR OWN


I am happy to say Durham Region prices are holding their own.  Even doing better than some Toronto areas.  Our prices are still up 4% from the same time last year.... and a lot of other regions can't say that.   We have a lot of listings and our sales are down but not our prices year over year.   Yes we are not seeing the prices of Feb and March 2017 but those days are gone now.   Interest rates are start to increase slowly so anyone in variable rate mortgages might want to speak to the Broker about locking in.  I have a feeling we may see another one or two before the year is out.   I will keep you posted when the new rules come out this month and when they will take effect.  Until then, enjoy this wonderful October weather and call me if you have any real estate needs.  Cheers !

Tuesday, October 3, 2017

WHAT WILL HAPPEN NEXT?

Hello Web Friends !

I haven't written for a bit because I need to settle in from my holiday and see what was happening and so far, what I see is .... A LOT OF LISTINGS SELLING BELOW ASKING !!!

So here are a few scenarios I have seen lately;  First I saw a bungalow in Pickering priced a little high for the market right now and they HELD offers.  It intrigued me because I couldn't believe they would hold offers in this market.  The Buyers aren't playing this game... so I showed it and  my clients and I both agreed not to put in an offer as it not worth the asking and there was no way it was worth competing for.... Offers were Monday night - Still on market, now offers anytime.  20 days later.  Did you help your Seller or did you hurt them? 

I have seen another listing in Ajax listed for 919 and on the market since July.  Then it was terminated and comes out the next day with the same agent for 949 !!  Did I miss something????   That to me is just a waste of the agent's time and money.  Sorry but when an agent takes on a listing, it is their money and time being spent with NO guarantee that it will sell.  It costs the Seller nothing.  So why would an agent do that?  Who is advising this, the home seller?  Are they
not using a Realtor for proper guidance and information?

Then I have seen homes that went on the market priced at last year's prices and they are SOLD CONDITIONAL... so those were priced to sell.   You cannot price your home in February/March 2017 prices.  Those are gone.  Those days are finished.

We have seen some sellers who sold FIRM in the frenzy, have to put their homes back on the market because the Buyers backed out.  They either couldn't close or they couldn't sell their own home so the home they purchased is now back on the market and anyone who thinks it should go on for what it sold for is not being realistic.  The sellers may have one price and they may take lower... you need to find out the history and a good Buyer agent will do that.  When you see the house with me, you are told when it was last bought, what they paid for it, what neighbouring homes are for sale or sold for.   How can you make an informed decision without that.

Now to get to the nitty gritty.  The September Stats.   The numbers are basically this... sales are down 35%, not prices... so the number of listings to solds are down 35% compared to same time in September 2016.  We saw this coming but the way they report it, the media skews it.   The actual home prices are up 2% from September 2016.   Which is still good prices for homes.  The issue is people want March 2017 prices and it won't happen.  So if you want to list your home to sell it, you need to price in in the range of September 2016 when we were all smiles and optimistic about the crazy HIGH prices of the market and now all of sudden it is like those prices are "you losing money"... well let me be frank, you can't lose money on something you never had... it is like saying a stock is worth 150.00 a share and you didn't buy it and now it is worth 75.00 a share and you buy it and say you lost 50%.. how so??????   The prices are still amazing considering what homes sold for 10 years ago.   So all this negative nonsense is ridiculous.   And in 10 more years, these prices will be cheap by comparison.

I do think we are in for a bit of a dip at the tale end of this year and early next year because I think they are making more changes to the mortgage qualifications and approvals and that will definitely change price points where some buyers may not qualify... these changes I have heard are coming in mid October but they don't truly know when they will take effect.  But when I know, I will let you know.

So all is well and the home which you love and reside is not worthless like the media would like you think.   The buyers that are out there are smarter now and they only buying properties priced correctly and they are rarely competing and even if they are, they aren't paying the crazy prices of earlier this year. 

If you want the stats for your particular neighbourhood, I would be happy to send them to you, just shoot me an email.  But let's be real everyone, the market was out of whack before.  Now it is more balanced and normal.  I don't know about you but I welcome normal.  It seems with all the tragedies we have seen around the World lately, normal isn't such a bad thing.

So if you need anything at all, listings, prices, home evaluation, or just have a question, reach out and call or text me at 416-300-3004, Michelle Makos,  Broker Owner at Royal Heritage Realty Ltd.   Keeping it Real in Real Estate !

P.S.   And off topic, who says you have to have a sign ????  I sell many homes with NO signs (mind you I do love my signs) ... because some of my clients don't want the neighbourhood knowing their business, ... Signs do not sell your home... Especially if you are on a residential street with little traffic.  If you want one, great but if you don't want one - say so !!   I have had people say, "We don't want one but when we sell, you can put it up sold... "  LOL.. I don't care either way.   My marketing is what sells your home, not the sign on your front yard.   Signs are purely advertising for the agent to maybe get a sign call but for the majority  of people, they are internet saavy and search the web.  Google me ... Google anyone you do business with.

Have a great long weekend everyone and HAPPY THANKSGIVING... to one and all !!!
Cheers !
Michelle xo






Thursday, September 21, 2017

JUST LISTED - 76 FAIRWAY DRIVE, AURORA

You won't want to miss this showstopper !!  Backyard oasis.    Gorgeous 3+1 Sidesplit in a desirable neighbourhood.  Backyard is perfect for entertaining.  Lush landscaping, Cabana, Hot Tub and Privacy.  Inside we have a open concept home with designer colours, granite, skylight, pot lights, finished basement, 2 way fireplace and more.   This entertainers dream is beyond words.  Must be seen to be appreciated.  A real Beauty.  $1,299,900



For a private showing or more information, contact Michelle Makos, Broker Owner @ Royal Heritage Realty Ltd., before it is gone.   905-831-2222.

Wednesday, August 9, 2017

37 Kimberly Drive, Whitby ~ SORRY IT IS SOLD FIRM

No More Fooling Around !!! This Fabulous Bungalow In Family Friendly Brooklin Is At An Unbelievable Price And Is Looking For It's Next New Owners. Meticulously Cared For By The Original Owners. 3 Bdrm, 50' Ft Premium Lot, Double Car Garage W/Access To Laundry Room On Main Floor. Fully Fenced And Private Backyard On A Pool Sized Lot. Open Concept. Everything Is On The Main Floor.  You Can't Beat This Price. Won't Last !



To book a showing on this beauty or to view the Virtual Tour, visit www.37Kimberly.com
today!   This home is waiting for you !  Call Michelle Makos at Royal Heritage for more details.

Saturday, August 5, 2017

Great Things Never Came From Staying in Comfort Zones

Happy Long Weekend My Fellow Friends and Followers,

I just wanted to update you all on the dreaded July numbers and throw a little light into the dim picture the media has painted.  First of all, SALES were down 40.4 % from the same time last July (2016)... Sales NOT prices.  I have heard so much confusion and misinformation.  The sky is NOT falling in on real estate.  In fact, July and August have ALWAYS been the slowest time in real estate and with the added regulations that came about in April it just made it worse.... so yes the numbers are down for the 3rd consecutive month and I would guess August will be about the same..... BUT
look to September to see a nice hiccup in the  market.

I think we are just balancing out right now.   Prices are still up from the same time last July by maybe 5% but we saw huge growth in 2016 so anything now looks bad and the press has a way of spinning things to sensationalize them.  So if you are thinking on buying or selling, don't be discouraged.  Opportunity may be knocking.... I would say September after the long weekend you will see a more balanced and happy market.  Buyers will be able to have their conditions and Sellers will still make money .. maybe not at the 2016/early 2017 prices but let's face it, those prices were beyond ridiculous.  Anything that goes up that fast, was not normal.  I believe it was all due to lack of inventory.  Now we have a surplus of inventory and the Buyers seem to be waiting?  What are you waiting for?  Interest rates are still amazing, house prices are coming down to what they were a year or more ago and you have CHOICE, which you didn't have as much of before ...

This week I read this quote "Be fearful when others are greedy and greedy when others are fearful" ~ Warren Buffett AND how true is that statement.   Right now, people are running scared like the sky is falling in real estate, the bubble is popping etc and in fact, a smart person would be seeing that as an opportunity to get in the market.  No one ever looked back in history and said "Gee I wish I never bought that house"... whether it was in the peak in the market or the bust.... because real estate is not only an investment but it is YOUR HOME.   My goodness, no one is losing money if they bought in 2016 .. because chances are they aren't selling it... for a while and when they do, they will be just fine.  It is more the speculators who come in and buy homes and flip them and want to profit from it... not people like you and I who buy real estate for our home, our children's home and future retirement.

So please stop letting people scare you about real estate.  Yes it is slow, always is SLOW.  Yes, prices are down considerably from February and March and April of 2017 and I am glad they are.  The prices were going up too fast and buyers weren't given the opportunity to even have a second look or a proper inspection.   So YAY to a real estate slow down but I can guarantee you that the market will be healthy and strong in September ... once the dog days of summer have passed... not to mention the rain - the weather this summer has been awful and people aren't out looking at home in the rain.  They just aren't.

So if you are looking to buy, keep looking... you're timing is awesome and if you are thinking of selling, I would wait until after the long weekend in September and then reach out and let's talk about what we need to do to sell your home.  I still recommend people sell before they buy in this market and have always preferred people do that but the past 3 years that hasn't been the case... because you couldn't buy anything without firm offers in competition.  Those days are gone hopefully for a while.

Now let's breathe a little easier that the real estate mania has finally settled down and we buy and sell with more realistic and beneficial goals than before.  I am attaching the Durham Region stats for July and you will see the numbers are still good.  The days on market are more but the sale prices are still good... in comparison to 10 years ago, they are great !  So people need to stop being so negative and look at this as a great time to buy in real estate.




Have a great long weekend everyone... and hopefully we get some nice weather.   If you have any questions about the market, your home or any listings, please don't hesitate to reach out.

Please remember if you are buying and selling in the SAME MARKET ~ the conditions won't effect you.  It is when you are buying in one market and selling in another that you may get caught, this generally happens with long closings but if you buy and sell within 90 days, you are going to be find.  What you save on the buy will be the difference you may "think" you have lost on the sell.



In 10 years from now, we look back on these prices and laugh and say, "Man I wish I bought more real estate"... just like we have all been saying the past year and half I am sure !!!  I think we all know the housing plan put in place, spooked a few buyers and the interest rate hike didn't help but the deals are out there and ones that are shopping now, are going to look back and say, "I am so glad I did"... between now and the end of 2017, you will see some great opportunity.  Be ready for them.

Cheers to that !
Michelle Makos
Direct Line - 416-300-3004
Broker/Owner
Royal Heritage Realty Ltd.



Thursday, July 6, 2017

TIMES ARE A CHANGING !!!

And just like that ~ we have a Buyers Market !!!


As you can see, the prices have fallen from April to June considerably.  Anyone waiting to buy a home, your wait time is over.  I would recommend locking in the interest rates now as next week we will see BoC increase Prime which will effect the mortgage rates.

If you have been waiting to get into the market, NOW is the time.  With the market being saturated with listings, you can negotiate the price like you have not seen for a few years.

If you are interested in being sent new listings, simply email/text or call and I would be happy to set that up for you !!!

Take advantage of this market change ... these don't happen often but when they do it is opportunity knocking !!  Investment property, first home... Let's go shopping !!

Thursday, June 15, 2017

MARKET UPDATE - MID JUNE 2017 - WHERE DID ALL THE BUYERS GO?

I just wanted to give you a quick update.  The market is saturated with listings. 1:10 ratio.   So currently in Pickering, we are sitting with 232 Freehold Active Listings and in the past 7 days, 28 have sold.  What does that tell you?  Buyers choice !!!  They can negotiate and they have so much choice they can be picky !!!   This is where a good negotiator working on your side can save you thousands of dollars.  The same scenario  is happening in Ajax with 323 active listings and only 20 SOLD... and Whitby has a whooping 370 Active Listings and only 39 have SOLD.

Many of these people on the market right now have bought FIRM in March and beginning of April and are starting to panic.  They NEED to sell in order to close on the purchase they made.  Thank God I don't have any clients in this situation.  I had a feeling this was going to happen and now it has.  It is a desperate situation for many people out there... and it is unfortunate.  

BUT if they do not sell, they will not CLOSE on their purchase and in turn that 
will result in lawsuits galore.   The Sellers will sue the Buyers for not closing but it isn't just for the deposit, it will be for damages.   Damages can include penalties and the difference in the sale price if they have to resell the property and it sells for considerably less.  Unfortunately this is starting to happen now with June closing and many July closings where the homes are still on the market and not sold.


If you are thinking on buying an investment property or a first time buyer, this is the optimal time to find a good deal.  If you are looking to move and sell and buy, I highly recommend you sell first as it may not sell at all... and if you were looking to just list to "cash in", although the prices are still high, the days of multiple offers and no conditions (financing or inspections) are gone... That ship has sailed in Durham Region for now.  Let's see what the new stats say for Mid June when they are released.


And on a brighter side, I want to wish all the Dads out there, a Very Happy Father's Day and if you aren't a Dad, have a great day and enjoy the weekend. Take care and I will keep you posted.  Remember, if you want to know a sold or have a question, reach out and if you know anyone looking to buy or sell, do your research.  Use a Professional.     Have a great evening !!!

Thursday, May 25, 2017

And Just Like That !!

I just thought I would update everyone on what I see going on... especially in Durham Region.   It would appear that everyone who wanted to sell their home, waited until after Easter weekend and it seems that the we are now saturated with listings.

By looking at the listings and the sold listings it would appear the ratio is about 10:1... meaning for every 10 homes listed, ONE  home sells within a week.  Is this bad?  Not necessarily.  This just has not been the norm for so long that people are panicking.

Let's not panic.   The Buyers now have great opportunity to purchase homes without the bidding wars and without paying crazy over asking prices.  They may even be able to get a home inspection.  Those days were unheard of a few months ago.. hell, even a few weeks ago.

But it has definitely shifted and Realtors need to face the reality that the Sellers are no longer in the driving seat.....The BUYERS are... but many of the buyers were frustrated and didn't want to play anymore and have retreated.  It is time to revive those buyers because opportunity is knocking right now.  There are some sellers who are just hoping to cash in while the prices were at an all time high, and it is pretty safe to say, I think they may be a few weeks to late.  But there are also sellers out there who have bought in March and early April and MUST sell their home in order to close on the purchase.  This is where things get tricky.

Do they have options?   There are always options.   If you are in that position, you need to stay in close contact with your Realtor and get sound advice.  It isn't as easy as saying "keep my deposit".   If you think that, you are mistaken.   If you bought firm, you signed a legal contract.   If you are nearing your closing date, you need to discuss your options.... extend your closing to give you more time, if possible.   See if the Seller you bought from will take back a mortgage for you, if not, call on family to help you come up with funds to close the deal or speak to a mortgage broker about private funds.  But DO SOMETHING... don't wait until the 9th hour... nothing can be done a day before closing.  Deal with it sooner rather than later.

I was one of those people that bought in 1989 and my back up property didn't sell and what a nerve wrecking time it was.  I speak from experience.  Work with a Realtor that knows what they are doing.  I didn't and it took me years to recover from poor representation.   Have a plan of action.. what if... ask questions.

People that think they just lose their deposit are dreaming... that rarely is all they lose.   So be informed.   But if you are a buyer out there, the market is your playground right now.  With the market full of listings, you are able to shop til you drop.   What are you waiting for?   There are deals out there to be had.   You just need to find them.  I think this summer is going to be a great time to capitalize on some great deals.

Just know - the market is quiet.  You may have noticed all the "FOR SALE" signs out there and the SOLD riders are not going up like they used to.  This is becoming more balanced.  Agents can now really negotiate on your behalf.  If you have older children living at home, this may be the time for them to grab something.  There are homes out there selling for UNDER asking now.

Homes are being listed at the price they are expected to get and not silly under value prices and encouraging bidding wars.  Those days are slowly disappearing. This is good news for buyers.

On top of all the uncertainty, we are also seeing some Buyer Remorse out there.   Buyers who haven't closed yet on their deals and now seeing all the choice out there are feeling they overpaid. This is always going to happen if you are caught when the market is shifting.   Timing is everything and no one has a crystal ball.   All I can say to that is, I am sure in 10 years from now, you won't regret your purchase because real estate is one thing, if you buy it and hold it long enough, you will NEVER lose.   So hold on to your hats and get ready for a wild ride.

If you are looking to purchase a home or sell a home, work with someone you trust and is working in your best interest.   This too shall pass but for now, it is definitely been a fast turnaround.  Scary for some and opportunity for others.

Keeping it real in real estate !
Your friend
Michelle Makos
Broker/Manager - Royal Heritage Realty Ltd.,
Direct:  416-300-3004


Friday, May 19, 2017

1239 CANBOROUGH CRES., PICKERING - SOLD OVER ASKING

Check out this fabulous new listing in family friendly Glendale.  5 Level Sidesplit with a spectacular kitchen, open concept, 3+1 bedrooms, finished basement, lush landscaping and private backyard.  This home is close to schools, transit and shopping.  Nothing to do but move right in.



Stainless Steel Appliances, Front Loading Washer & Dryer,  Two Walk Outs
to tiered Decks and so much much more.   Hitting the market Tuesday for $749,900... call for a private showing.

View from the Deck
Showings are by appointment only. No pets.  Shows pride of ownership throughout.   Truly a pleasure to show.
Located on a pie shaped lot on a great crescent in Pickering.  Your backyard oasis awaits.

1239 Canborough Crescent.... Welcome Home