The Fall Market




The fall real estate selling cycle is winding down for 2012 and we are already working with clients to prepare their homes for going to market in early 2013. Homes listed in the early February through late March portion of the spring selling cycle have realized exceptional sale prices over the past three years due to pent-up demand and a general lack of competitive offerings in the marketplace during that same period.

If you or someone you know is contemplating a move next year, we should be discussing same now as it's far more important today to be ready to go to market than to be in that market and experience has shown that to properly get ready to go to market takes time.

Team Mosaad is ready, willing and able to guide and assist you, your family, friends, neighbours and business colleagues in the sale and/or purchase of real estate throughout the GTA and its surrounding Regions in 2013. Give us a call at 416-450-4366 to arrange for a no-obligation meeting to discuss your plans.

Your recommendations and introductions to others are very much appreciated. We'd be pleased to initiate contact upon your direction. Thank you.

RE/MAX Canada Housing Outlook 2013: Moderation - Not Correction

Canadian real estate markets demonstrated remarkable resilience in 2012 - with home sales up or on par in 65% of major centres - despite considerable headwinds in terms of tighter financing and economic uncertainty abroad. The trend is expected to continue, with home-buying activity propped-up by low interest rates and an improved economic picture in 2013.

The Housing Market Outlook 2013 examined trends and developments in 26 major markets across the country. The Report found that the number of homes sold is expected to match or exceed 2011 levels in 65.0% of markets in 2012, led by strong activity in Western Canada, including Calgary (up 13.5%) and Regina (8.0%). 81% of markets are set to experience average price increases by year-end 2012, with Regina the country’s frontrunner at 8.0%, followed by Hamilton-Burlington, Greater Toronto, and Fredericton at 7.0% and Saskatoon at 6.5%. The forecast for 2013 shows the upward trend moderating, but values still ahead of 2012 levels in 85% (22/26) of centres. Stability is forecast to characterize Canadian real estate in the new year, with sales above or on par with 2012 levels in 81.0% of markets.

Nationally, an estimated 454,000 homes will change hands in 2012, falling one per cent short of the 2011 level of 456,749. Canadian home sales are expected to almost mirror the 2012 performance next year, holding steady at 454,000 units. The average price of a Canadian home is expected to remain stable at $364,000 in 2012 - on par with the figure reported in 2011. Values are expected to appreciate nominally in 2013, rising to $366,500, one per cent above year-end 2012 levels.

"Despite all the negativity surrounding residential real estate, the sky is not falling," “Home sales have moderated, but remain within healthy levels. Greater optimism is expected to return next year, as the economy marks further improvement. Canadians appear to be reigning in their spending, heeding cautionary statements by the country’s financial leaders. We believe that will only serve to shore up the already healthy framework of the Canadian housing market in 2013.”

The report found that low interest rates were a major impetus in 2012, fuelling sales of homes across the board. Tight inventory levels also factored into the equation early in the year, causing a flurry of activity in many centres. By mid-year, however, the third round of CMHC mortgage tightening had a noticeable impact on housing markets, pushing homeownership beyond the grasp of many first-time buyers.

The Housing Market Outlook Report also identified several regional disparities. Most notable was the pull back in sales activity in Greater Vancouver. A banner 2011 year and a slowdown in investor activity contributed to the trend in 2012. Yet, moderation was more widespread in the east, with half of Ontario and Atlantic Canada markets reporting 2012 sales off the 2011 pace. Strength was evident throughout Saskatchewan, Alberta, and Nova Scotia, where exceptionally sound economic fundamentals drove demand. The Prairies also stood out in price appreciation, along with the Atlantic Provinces in 2012, and a repeat is on tap for next year. In 2013, Vancouver will rebound to post the strongest sales gain, while the Quebec markets post the sharpest decrease.

“Looking forward, there are a number of factors on the horizon that will serve to bolster residential activity in 2013,”. “Canada’s economic performance is expected to show signs of improvement, particularly in the latter half of the year, which should bode well for housing markets across the country. Historically low interest rates will also continue to drive healthy home-buying activity, especially in the move-up segment. Last, but certainly not least, there’s no denying the universal appeal of bricks and mortar. Canadians believe in homeownership. The stability of real estate over the long-term continues to fuel its appeal.”

While first-time buyers will continue to have a significant presence in the overall marketplace, they are expected to take a back seat in 2013 in Canada’s largest markets - with move-up buyers the new engine driving home-buying activity. The greatest advance in home sales is expected in Vancouver (12.0%), Calgary (10.0%), Halifax (5.0%), Kingston (4.5%) and Saint John (4.0%). The strongest upward momentum in average price in 2013 is forecast for St. John’s (6.0%), Regina (5.0%), Kingston (4.5%), and Halifax (4.0%), followed by Fredericton and Winnipeg at 3.0%. More balanced market conditions are expected in 2013 throughout the majority of markets, with supply meeting demand.

“The long-term outlook for Canadian real estate remains strong,” “It has proven so in the past, and it will ring true in the years to come. Canada’s major centres are evolving at a tremendous pace and gaining traction on the world stage. As we look forward, our communities will certainly be more vibrant, more sustainable, while our housing mix focuses on density and diversification. The sheer number of developments planned or underway is staggering. We know the market ebbs and flows - that’s cyclical - but the future for real estate remains quite promising.”

Immigration and population growth will continue to support housing demand moving forward. The Canadian government’s commitment to immigration will hold steady, with the country set to welcome as many as 265,000 immigrants in 2013. The greater focus on economic immigrants is already leading to quicker household formation and homeownership than in years past. These two factors will also support the burgeoning condominium segment - along with Canada’s aging population - while the desire for tangible assets props up the upper-end.


October Month-End Real Estate Sales Activity Report

Summary of Toronto MLS Sales and Average Price - October 1 - 31, 2012

2012
2011

Sales
Average Price
New Listings
Sales
Average Price
New Listings

City of Toronto ("416")
2,730
$539,188
5,568
3,044
$518,248
5,166

Rest of GTA ("905")
4,166
$480,078
7,486
4,381
$443,664
7,140

GTA
6,896
$503,479
13,054
7,425
$474,241
12,306
 

Toronto MLS Sales & Average Price By Home Type - October 1 - 31, 2012

Sales
Average Price

416
905
Total
416
905
Total

Detached
931
2,417
3,348
779,484
573,598
630,850

Yr./Yr. % Change
-7%
-1%
-3%
5%
8%
7%

Semi-Detached
347
458
805
575,618
390,459
470,273

Yr./Yr. % Change
-4%
-9%
-7%
7%
5%
6%

Townhouse
286
775
1,061
453,477
357,237
383,179

Yr./Yr. % Change
-10%
-1%
-3%
2%
5%
3%

Condo Apartment
1,141
427
1,568
358,741
286,138
338,969

Yr./Yr. % Change
-14%
-20%
-16%
-2%
4%
0%
November Mid-Month Real Estate Sales Activity Report

Summary of Toronto MLS Sales and Average Price - November 1 - 14, 2012

2012
2011

Sales
Average Price
New Listings
Sales
Average Price
New Listings

City of Toronto ("416")
1,055
$522.852
2,221
1,373
$524,434
2,164

Rest of GTA ("905")
1,632
$466,536
3,033
1,884
$448,111
2,907

GTA
2,687
$488,647
5,254
3,257
$480,285
5,071




Toronto MLS Sales & Average Price By Home Type - November 1 - 14, 2012

Sales
Average Price

416
905
Total
416
905
Total

Detached
341
938
1,279
761,273
555,159
610,112

Yr./Yr. % Change
-26.7%
-10.4%
-15.4%
1.0%
1.9%
0.2%

Semi-Detached
130
172
302
604,674
391,147
483,063

Yr./Yr. % Change
-18.8%
-18.1%
-18.4%
6.8%
6.0%
6.3%

Townhouse
120
306
426
437,072
354,366
377,663

Yr./Yr. % Change
-25.5%
-6.1%
-12.5%
4.0%
6.3%
4.3%

Condo Apartment
448
180
628
347,681
275,947
327,121

Yr./Yr. % Change
-21.7%
-29.4%
-24.1%
-3.8%
0.1%
-2.3%
Note: During the first half of November, there were fewer high-end detached homes sold as a percentage of total resale transactions compared to last year. This year-over-year change in the mix of detached homes sold in the GTA, rather than a change in market conditions, was responsible for a lower than normal increase in the average detached home price.
Samir & Freiza Mosaad

Sales Representative
Century 21 Leading Edge Realty Inc., Brokerage
Mobile: 416.450.4366
Email: samir.mosaad@century21.ca
Website: www.century21.ca/samir.mosaad

Get our Team of Professionals Working for You. The Experience Will Move You!
Team Mosaad is ready, willing and able to guide and assist you, your family, friends, neighbours and business associates in the sale and/or purchase of real estate throughout the Greater Toronto Area and its surrounding Regions. Your recommendations and introductions are appreciated. We value your trust and always show our appreciation. Thank you.



Selling Your House Using the Other Three Senses





Most advice on how to prepare your house for sale involves how the property will look to a potential buyer. Appearance is, of course, very important if you want to sell a house quickly and for the best price. But there are three other senses you have to satisfy as well.
Hearing. Check for creaks in the floor, a rattling washer or dryer, or any other unpleasant noise. You may no longer notice these sounds, but potential buyers will.
Smelling. You might love the aroma of exotic cooking, but visitors may not. Also check for other obvious sources of odours: such as ashtrays, laundry hampers, garbage bins and toilets.
Touching. Make sure countertops, door handles, floors and other surfaces are free of dust and dirt. If potential buyers feel the need to wipe their hands after touching something, they won’t leave with a good impression. Appealing to all the senses helps to ensure that your house shows well. Want more proven ideas for making your home show better? Call today.



Using “Conditional Offers” to Your Best Advantage





You find a home that you’re interested in buying. But you have concerns. Is it in a good state of repair? Will you be able to secure the right financing? Can you sell your current home in time?

Any of these issues can prevent you from making a prompt offer and, as a result, cause you to lose the opportunity.
The solution? Make a conditional offer.
A conditional offer means just that. You offer to purchase the home so long as certain conditions, which you specify, are satisfied. Here are the most common examples:
- “Subject to financing”. You will buy the home if you’re able to arrange for a suitable mortgage.
- “Subject to inspection”. You will buy the home if it passes inspection by a qualified home inspector of your choice. If he or she finds that substantial repairs are required, you can either walk away from the deal or renegotiate.
- “Subject to selling my current home”. You will buy the home if you can sell your own home within a set period of time. For example: 45 days. A seller might agree to this if your home is competitively priced.
- “Subject to the repair of ____”. You will buy the home if the seller makes certain repairs, at his or her own expense. This can range from something relatively minor, such as fixing a crack in the foundation, to a major repair like replacing the roof shingles.

A conditional offer will protect you. However, there is always the risk that the seller will say “No.” If you’re in a competitive situation, for example, and another buyer’s offer is unconditional, you may lose the deal - even if your offer price is higher!
So you really need to use conditional offers strategically, in just the right way, under just the right circumstances.



Shopping for a New Neighbourhood





Most people, who want to make a move, shop for a new home. They think about the number of bedrooms they want, the depth of the backyard, the quaintness of the recreation room, and the size of the kitchen.
There’s no doubt about it. Making sure that a house has all the features you need is important.
But when shopping for a new home, you should also pay close attention to the neighbourhood features.
You’ve probably heard the real estate industry phrase: Location, location, location. The neighbourhood you choose has a huge effect on your lifestyle and that of your family.
Think about the age of your kids, the activities your family members are involved in, your commute to work, where you like to shop, etc. Then make sure the neighbourhood you select for your next home supports your family’s lifestyle.
Shopping for a neighbourhood should go hand-in-hand with shopping for a new home. After all, you can renovate a kitchen, but you can’t make a nearby playground magically appear!



Notable, Quotable... Quotes!

 

“…ask yourself what makes you come alive. And then go and do that.
Because what the world needs is people who have come alive.”

Harold Whitman
“…one smile begins a friendship… one candle wipes out darkness…
one life can make a difference.”

Author Unknown
“Buying a home requires extensive information;
the more you know increases the chances that you’ll live there happily ever after.”

Alan Perlis


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SAMIR MOSAAD

SAMIR MOSAAD

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
Contact Me

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