Kevin W Lee
CENTURY 21 Leading Edge Realty Inc., Brokerage*
- 165 Main Street North
Markham, ON L3P 1Y2
SOLD 200K OVER ASKING 40 Stonesthrow Cres. Goodwood On.
Recent Solds And Active Properties
Stouffville Community Stats June 2017
Average prices for a DETACHED has seen an INCREASE in the Stouffville Community for June. However sales volume has decreased month over month. As a result of slower sales and an increase in the supply, homes are staying longer on the market. Current market trends are expected to change in the near future. Good news for sellers is that average prices in JUNE for DETACHED homes was up over 18% over the same month last year. Need help selling your home in this change market? Contact me for a free home evaluation. Proven Results!
AVERAGE SOLD PRICES
DETACHED $1,132,775 DOM 19, # SOLD 20
SEMI-DETACHED $779,000 DOM 18, # SOLD 2
TOWNHOUSE $664,500 DOM 15, # SOLD 4
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Market Watch June 2017
BUY FIRST OR SELL FIRST?
- Hunting experience more enjoyable.
- You’ll have time to wait until the right home comes up for sale.
- Less stressful knowing that if your offer is unsuccessful, you can wait for the next opportunity to come up.
- Unable to sell your home fast enough, you will find yourself owning two homes at once.
- Could mean paying two mortgages at the same time, not to mention all the other costs of home ownership.
- Trouble securing a mortgage for the new home.
- As a buyer with an existing home to sell, you can protect yourself by making your offer conditional on the sale of your current home. That means if you’re unable to sell within a specified period of time, you’re able to back out of the transaction.
- Worth pointing out that this condition will likely make your offer less attractive to the seller, especially if you’re buying in an area with a hot market.
- Biggest benefit is that you will know how much money the sale brought in, which will help determine how much you can afford to pay for your next home.
- You'll find yourself in a race aganist the clock with your closing date looming and potentially no home to move into when you move out of your current home.
- You may end up rushing the buying process and settling for a home that isn't ideal for you or pay more than our planned because you fell pressured.
HAVE A CONTIGENCY PLAN
- Have a back-up plan in place in case you are left with two homes, or no home, for a period of time.
- If the sale of your home closes first, you might consider a short term rental or moving in with family or friends. This could be better than settling for a less-than-ideal home because you are rushed.
- If the purchase of your new home closes first, you might need something called “bridge financing” to cover the down payment and other closing costs until the sale of your current home closes.
- No matter which option you choose, it’s important to remember that a registered real estate professional is knowledgeable about market conditions and will offer advice and solutions to guide you through the process
- They will be able to discuss various scenarios to make sure you have realistic expectations about what may happen and help you come up with a plan that works for you and your growing family.