Tue, 7th February, 2012 - Posted by (0) Comment-
The Hamilton‐Burlington real estate board has just reported 819 property sales through the MLS for the month of January. This represents almost an 11 per cent increase in sales over the same month last year. They have also reported that 7.7 per cent fewer listings were taken in January 2012 compared to January of last year. The average sale price of a property has also risen 4.2% over last year’s average, yet the inventory of available properties has dropped by almost 12%
“The story for the month of January,” said RAHB President Cameron Nolan, “is that while sales have edged up compared to last year, we are seeing significantly fewer listings than normal. Our listing inventory is the lowest it has been in some time.”
What does this mean for you?
I hate to sound cliché, but now is a great time to sell. We are seeing a flood of buyers hitting the market right now. The most obvious reason would be the record low mortgage rates lenders are able to offer, but I think the weather also has something to do with it. Historically, people didn’t buy in January/February because who wants to go running from home to home in 3 feet of snow with temps in the minuses. The grass is green and the temps are up causing an early start to the spring market.
Buyers are out and ready to purchase, but there isn’t anything to buy right now. Everything that is in relatively good condition and priced well is selling after only a few days on the market. This has resulted in an upward pressure on prices. If you are considering selling your home this year, you may want to do it sooner than later. Once the spring hits and everybody starts putting their homes up for sale, the market will become more balanced causing a downward pressure on pricing.
Get into the market while inventory is low and you will get more money for your home.
Considering Buying or Selling Your Home?
For more information on buying or selling real estate in Burlington, Hamilton, Oakville, or Toronto, or if you have questions about current market trends, staging properties or mortgage interest rate information, I’d be happy to answer all of your questions to accommodate all of your real estate needs.
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Sat, 4th February, 2012 - Posted by (0) Comment-
The worst thing about selling your house is you have to eat out a lot more than you normally would to accommodate showing requests. But the best part of selling your house is that you get to eat out a lot more than you normally would! Last night we had to accommodate a showing and decided to try Shoeless Joe’s at Appleby and Upper Middle. For the full menu, CLICK HERE
It is a great place for the kids as each booth had its own TV. Without having to ask, the Manager came over and switched our set to Looney Tunes to keep our little 2 1/2 year old occupied so the parents could enjoy a great meal.
If you are a fight fan, this would be an awesome place to watch the fights as you could watch everything from the comfort of your booth. Food was good and the service was friendly.
If there is a place or an event in Burlington that has left an impression on you and you would like to share it with my audience, please do not hesitate to drop me a line with your story and I will be sure to add it as on of the 365 Things To Do In Burlington.