Ajax Pickering Real Estate Blog

Jennifer Wilson-Speedy – Yourhome.ca

If only selling a home was as simple as putting up the “For Sale” sign. Instead, it’s an emotional process balled up with agonizing financial decisions and life changes that only get more stressful the longer the property’s on the market.

Sofie Allsopp helps Brits make over their homes to speed up the sale of stagnant properties in Unsellables UK (Wednesdays at 9:30 p.m. on HGTV), an across-the-pond rethinking of the Canadian Unsellables series.

This season, Allsop says, brings “new people (and) some really great properties” – at least, once they’ve cleared up the filth, clutter and worn-out decor.

“I’m always amazed when people’s houses are dirty when they put it on the market.”

In addition to the general turnoff that is grime, clutter “makes a house look so much smaller,” she says, recalling an episode where the newlyweds’ house was piled so high with boxes “you could barely see the floor.”

These kinds of messes not only eat away at valuable floor and counter space but also hinder prospective buyers’ ability to envision their own belongings in the home, which is often a key step in their decision making.

So, if you’re preparing to sell, it’s worth the effort to pare down before the first showings, including stowing family photos and mementos. Allsop also recommends putting oversized or extra furniture into storage to help make rooms feel larger.

Plus, she notes, cutting down on clutter now means less packing when moving day comes.

Faded decor is another Unsellables no-no. Often in houses that have been lingering on the market, “everything just looks a bit tired and unloved,” says Allsop.

As a result, paint is “one of the most important things to do before you put in on the market,” she says, suggesting sellers opt for “pale but interesting” colours, such as muted greens and blues, to help create a fresh look without imposing a bold, and potentially intimidating, personality on the space.

Sellers must also consider their furniture placement. Paring down will help open up spaces, but pieces must also be arranged to emphasize the home’s flow, which means natural walking paths and doorways shouldn’t be blocked. Try to showcase the flexibility of the space too. For example, convey that the home office could also be a bedroom by adding a small bed.

To prevent your home from languishing on the market, Allsop says one of the most important steps is getting a real estate expert to help you set a realistic price. She says a lot of the time people list their homes for too much money – and it ends up sitting for months until they lower the price.

In addition to delays for the sellers, listings that sit on the market also lose appeal with prospective buyers.

“If a house has been on the market for a few months, people will keep seeing it in their (web) searches and it will start to feel stale,” she explains. “Price it for sale.”

And, she adds, don’t forget to give your home’s exterior a little TLC – she notes that will be the photo on your Internet listings.

“You have two seconds to impress before someone clicks on to the next house,” she says. “No one looks at a home with an overgrown yard and says, `This is the house for me.’ ”

Mowing the lawn, painting the front door, stowing the garbage bins and putting out some flowers “will instantly make the front of the house look smarter.”

————————————————————————————————————

Contact the Jeffrey Team for more information  -  416-388-1960

————————————————————————————————————

By Sharon Singleton, QMI Agency

Canada’s real estate market showed no sign of losing steam in February, with housing starts rising faster than expected and a new survey showing 10% of Canadians expect to buy a home in the next two years.

Seasonally adjusted housing starts were 196,700 in the month, up from 185,400 in January, according to figures from the Canadian Mortgage Housing Corp. That was above analysts’ forecasts for a 190,000 gain.

RBC’s 17th annual home ownership study found that the number of Canadians saying they are very likely to buy a new home rose from 7% two years ago to 10%. The number of people who view their house as a good investment rose to a 12-year high of 91%.

Canada’s real estate market has been one of the main drivers of economic growth, with housing construction helping to power a 5% expansion in gross domestic product in the fourth quarter.

Some economists have forecast that the property market will begin to cool from the second half, when the Bank of Canada is expected to begin raising interest rates and demand and supply of available housing becomes more balanced.

“The gain in February housing starts was concentrated in the multiple starts segment, particularly in Toronto,” said Bob Dugan, chief economist at CMHC’s Market Analysis Centre.

Urban multiple starts, or condos, increased by 19.1% to 89,900 units while single urban starts increased by 0.5% to 89,200 units.

Urban starts rose 28.6% in Ontario, 14.3% in Atlantic Canada, 10.8% in the Prairie region and 8% in British Columbia. In Quebec, urban starts dropped 14.1%.

Rural starts were estimated at a seasonally adjusted annual rate of 17,600 units in February.

According to the RBC poll, younger Canadians between the ages of 18 to 24 are likely to lead the market. About 15% said they were likely to buy, almost double the number in 2009.

About 60% also believe housing prices will continue to rise this year, up from just 25% this time a year ago. They also expect mortgage rates to rise, with two-thirds expecting to have to pay more, the bank said.

That belief is being reflected in the choice of mortgage, with 16% opting for a variable rate loan compared with 20% last year.

————————————————————————————————————

Contact the Jeffrey Team for more information  -  416-388-1960

————————————————————————————————————

By Ka Yan Ng – Reuters

Canadian housing starts rose a better than expected 6.1% in February, reinforcing views that the residential housing sector is a major force pulling the economy out of recession.

Starts on new homes rose to a seasonally adjusted annualized rate of 196,700 units in February from a downwardly revised 185,400 units in January, Canada Mortgage and Housing Corp said on Monday.

The number of starts in February surpassed the average forecast of analysts for 190,000. The January figure was a slight downward revision from the previously reported 186,300 units.

“Overall, with the better than expected gain in residential construction activity in Canada, it appears that the new homes market is slowly coming back to life and may finally be benefiting from the resurgence in overall housing market activity,” said Ian Pollick, economics strategist at TD Securities.

The Canadian dollar rose to a six-week high of 97.49 cents, following the housing data. Its currency pared gains as details showed most of the strength was due to a 19.1% surge in the volatile multi-dwelling group.

That group, which includes high-rise condos, soared to 89,900 units in the month. The closely watched single-family home component showed starts increased by a muted 0.5% to 89,200 units. Still, single-family housing starts have advanced for 10 straight months.

The mounting activity was in line with a strong rebound in sales and prices in the broader housing market, spurred by consumer confidence and low interest rates, after the market hit bottom during the global financial crisis.

Analysts expect the market has the legs to advance further this spring before the arrival of new mortgage rules in April and changes to provincial sales tax regimes in British Columbia and Ontario in July cool things down a bit.

“Housing starts continue to chase surging home sales, which appear to have a green light through the spring,” said Robert Kavcic, an economist at BMO Capital Markets. Along with the tax and mortgage rule changes to come, he said he expected interest rate hikes should temper demand.

Meantime, Canadian home-buying intentions for the next two years has risen to 10% from 7% two years ago, according to a home ownership survey by Royal Bank of Canada.

Six in 10 Canadians also believe home prices will increase this year, up from 25% in 2009, the survey found. Similarly, 64% think mortgage rates will be higher over the next year, up from 33 per cent a year ago.

The RBC study also found that 91% of homeowners believe a home is a good investment, the highest level in 12 years, while 26% expect their home to be their primary source of income when they retire.

Regionally, CMHC said Ontario led February’s gain in housing starts, jumping 28.6% from January, followed by a 14.3% advance in the Atlantic provinces. The Prairies rose 10.8%, while British Columbia was up 8%. Only Quebec saw a decline, with a 14.1% fall.

Rural starts were estimated at a seasonally adjusted annual rate of 17,600 units in February.

————————————————————————————————————

Contact the Jeffrey Team for more information  -  416-388-1960

————————————————————————————————————