Monday, April 9, 2018

Do you have a real estate question you would like answered? Ask it here !




Monday, March 12, 2018

Neighbourhood Crimes - FREE REPORT

Hi Everyone,

Recently while showing homes I have had an increase in buyers asking me, is this a good neighbourhood?  I certainly do my best to educate my buyers on the neighbourhood but have found this site to be extremely helpful.  www.CrimeReports.com .

I would highly recommend anyone living in a neighbourhood to check it out once in a while and see what is going on around your home.

Just thought I would share it as I found it quite interesting.  Have a great March Break everyone !!

Tuesday, February 13, 2018

77 Andrea Rd., Ajax Home for Sale - $543,811

HITTING THE MARKET ON VALENTINE'S DAY


Don't miss this sweetheart of a DEAL !
3 Bdrm Detached Home, minutes to the Lake.
Finished Basement, Eat In Kitchen and more.

OPEN HOUSE SATURDAY AND SUNDAY
2 TO 4 PM
February 17 & 18th




Sunday, February 4, 2018

Durham Real Estate - The Do's, Don't and Must Know's

Hi Everyone !!

Just reaching out for my February words of wisdom or wishful thinking.. LOL... but here goes.

Market is moving in Durham, albeit slow it is moving.  Best priced homes are selling and those who still refuse to realize the market has definitely shifted and are trying to get more than the last Seller on your street are losing.   Homes need to be priced correctly to sell.   Realtors NOW must show their value !!!   Don't hire someone because they are cheap... or are promising you the moon.  Choose based on valued communication.  A Realtor is an advisor and negotiator.  The Seller is the client.  At the end of the day, Realtors must follow their client's wishes but an educated client on "truths" rather than "wishful thinking" will benefit further by far than a bunch of clouded dreams.

As a Buyer, even with the new financing rules in place, the rates are still low.  Keep in mind they will be going up again.  Waiting isn't going to help... if you want to buy this year.   Bond rates go up and usually interest rates follow.  I think the next hike will be summer time and not before so if you are wanting to buy, get a pre-approval done.  There are so many new builds coming up along Taunton in Durham Region... all these buyers of these homes will need to sell their existing home (or a good majority of them) and if the truth be told, the market has had a big swing since the frenzy of them buying those new builds, so now what do they do???   Can they close???   Can they sell their house for what they thought they would get (Odds are no).... I think we are in for a little bit of collateral damage here in Durham, unless these buyers have tons of cash or no mortgages on their previous home where they can shift some funds.

Another big thing I think we will see make a comeback is Vendor Take Backs... where the Seller is willing to take back a mortgage on their property so the Buyer can close on the deal.   Let's face it, someone who is retiring and bought years ago and has little to no mortgage and are downsizing, probably doesn't need all the money from the sale and can give a 2nd mortgage to the new buyers at a higher than bank rate but it will still get the buyer in the market and the seller will get a monthly cheque... just options.  A lot of Realtors don't even know how these work.   You need to work with agents that have experience and are knowledgeable. 

This past week my son put an offer on a home.   This will be his first home and fingers crossed it will all work out.  We were in multiples and did not pay over asking AND we had conditions.  Don't always be quick to drop all your conditions just because you are in multiples.  That was the case in 2016 and early 2017 but not necessarily the case now unless the comparables prove that this home is considerably undervalued.

I will say I have seen some "gong shows" out there when showing properties with my son.  One was a semi with a so called basement apt.  The agent had no clue what she talking about.   It was a sin that some poor buyer would walk in there and have the wool pulled over their eyes like that.  THAT IS WHY... YOU NEED A REALTOR you can work with that KNOWS the value, knows the questions to ask and is not afraid to speak up.  So what if it awkward .. or calls the agent to task, that is what you want.  Someone who protects YOUR interests.  I was shocked and saddened when I heard some of the responses.   It truly makes our industry look bad when there are agents that don't do their due diligence and educate themselves about the house and the market in the area they are selling.

I am happy to say I did call her out on a few things, she was not happy when we left and she promised to get back to me and never heard from her again.  BUT that home is now sold conditional and I wonder if that Buyer knows what they have bought.  Fingers crossed they do and that they used an agent to assist them that asked the right questions.

All I know is this, people will always either like you or not like you but when I am working with a client, they are my priority.  WE work together as a team.  Whether we are buyers or sellers.   WE make informed decisions.  I show them and back up my information.  They see what I see so they are not making blind decisions.  They are based on FACT.

I also am not writing this to get your business, I am writing this to educate everyone out there the importance of Realtors and there are good and bad in every business.  This is your biggest investment.  TRUST who you work with and KNOW that they are working for YOUR BEST INTEREST... not for a pay cheque.

The January stats will be out this week, probably Monday or Tuesday from TREB and DRAR and I will post them ... keep in mind, if you have any questions about real estate, you can always text, email or call me and I would be happy to answer or assist you.

Happy Super Bowl Sunday !!!!
Cheers
Michelle
Direct:  416-300-3004
www.HouseHunting-durham.com
michelle.makos@rogers.com

Monday, November 27, 2017

712 Rossland Rd. E., #1010 - $449,000

Looking to Downsize?   Ready for Condo Living in Whitby?
This is the perfect location and unit, priced to sell !



Spacious 2 Bdrm. Corner Suite W/Solarium In A Mature Building ~ The Connoisseur, At 712 Rossland Rd E, Is A Prestigious Whitby Condo. The Building Features Large Units, Underground Parking, Indoor Pool And A Party Room. Enjoy 1198 Sq. Ft. Featuring Eat In Kitchen, Solarium, Spacious Master W/ Full Ensuite. New Stainless Steel Kitchen Appliances. Great Views From All Rooms.
S/S Fridge, S/S Stove, B/I D/W, Over The Range S/S Microwave, Electric Wall Fireplace, All Blinds And Window Coverings, All Existing Light Fixtures, Washer Dryer, Broadloom Where Laid.  For a private showing, contact Michelle Makos at 416-300-3004.

Monday, November 20, 2017

Interesting Take on the Housing Market

A few weeks ago at the TREB AGM, we had Benjamin Tal from CIBC speak about the current housing market and the similarities between Toronto and Vancouver.   A lot of interesting insight and graphs to take in but worth the read and thought I would share it with anyone interested.  Great insight in a confusing market.



Thursday, November 2, 2017

November Market Minutes :)

Hello Website Friends !!!

Well the TREB stats are out.  The market is still moving .. SLOWLY but moving.   Sales prices are about 2% above the sale prices in October 2016 but sales are down 26.7% from the month before.   

I watched this video/link on Global yesterday :  RICHMOND HILL WOMAN CAUGHT IN HOUSE SQUEEZE.

I am sorry, this is getting ridiculous... everyone was warned that the prices were going up too quickly and the bidding wars were getting dangerously high and that buying FIRM with no inspections or conditions was a slippery slope and people still wanted to buy buy buy.  Now when it is not going up leaps and bounds,  they are upset with mortgage brokers and realtors.   I warned people at the beginning of the year.  I was good with people selling that weren't buying in that frenzy to cash in and get out.  I told BUYERS to wait.  Don't buy now.   It didn't help my pay cheque but it was the honest thing to do.  NOW and in the next six months, we are going to see another slight drop in prices and then we will be balanced out. 

I think if you have sold your home and/or are a first time buyer, NOW is the time to get out there.  So many people NEED to sell because they are caught in a mess,  like this woman in the video and will take a lower price than listed just to get out of the mess they are in.    If you are selling right now, you need to make sure you working with a solid agent who knows the market and has great exposure on the web because that is where the buyers are going or my WEBSITE of course, because it is always up to date.. :)

So the new market watch is below for any of you that are interested in looking at it.
With the new mortgage lending rules changing January 1st, people are looking to buy now, especially those buying with 20% down who will have to qualify for higher rates.  It is believe it will effect about 20% of their buying power BUT on the flip side, I have heard that you can qualify through Trust Companies and Credit Unions and they are not subject to those qualificaiton rules... so this may be a loophole in the new rules... or they may change it before .. who knows.

All I know is use a professional Realtor who will advise you of the market and help guide you to make informed decisions.   Anyone who has worked with me will testify to that.  I would rather see us walk away, than over pay or get in a mess.  The stress and aggravation are not worth it.  I have been there.   1989/90 and I wouldn't wish it on anyone.  So learn from my mistakes.. :)   Have a great November everyone and if you have any questions or know of anyone moving or looking to buy, I am always happy to help.

Cheers !!
Michelle
Your Friend In Real Estate
ROYAL HERITAGE REALTY LTD.
Broker
416-300-3004

October 2017 Market Report on Resale Housing

Thursday, October 12, 2017

2137 Blue Ridge Crescent, Pickering - SOLD

Don't Miss Out on This Beauty!

SORRY IT'S SOLD


 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.