What's Happening, March 2011

WHAT’S HAPPENING? March 2011

By Gitta Levi, Broker, Century 21 Heritage Group Ltd.

Still confused about what’s happening in today’s Real Estate Market? Some properties and some areas of the GTA (Greater Toronto Area) are getting multiple offers, selling for over the asking price. In general, the homes are in neighbourhoods that have traditionally sold that way; ie., the Beaches, Bloor West, Leaside, as examples. Besides that, do we know which homes will be lucky enough to get over the asking price? Here are some factors to consider:

Is your home “Buyer ready"......decluttered, freshly painted, personal items removed , shabby furniture and furnishings removed and replaced by a few “good” pieces, front door and entrance made inviting with a fresh coat of paint and fresh flowers.

Have you done your homework? Mortgage details available: Is there a penalty fee for an early discharge? is the mortgage portable to the property that you’ll be buying? How much more will your Lender give you so that you can buy-up, and what will that cost you per month?

What has sold in your area this year? Ask your Realtor to provide you with area sales: details of those properties and why they got their sale price, how long they took to sell, as well as market activity for your neighbourhood. Listen very CAREFULLY, and UNEMOTIONALLY! The closer your asking price is to the last comparable sales, the more likely you are to net the most from your house sale.

You cannot underprice a house! If you listen carefully to your Trusted Professional Realtor, look at facts that they provide to you, and then logically set a price, the Market of current Buyers will set the price; ie., the more interest there is from Buyers setting forth offers, the more likely you are to get your price, or even over-asking price.

Nothing is more important than the Realtor you choose! A true Professional Realtor will market your home for offers, and then negotiate the offer(s) to your best advantage. CHOOSE WISELY!

For more information on what a true Professional Realtor can do for you, contact Gitta Levi, Broker, Century 21 Heritage Group Ltd, directly at 416-587-8222, or email gitta@gittalevi.com.

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