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Entries in Buying / Selling (90)

In Toronto, sometimes meeting the asking price just isn’t enough

Bidding wars that lead to offers six figures over asking have become routine in Toronto’s spring market. But even in a contest reduced to a single buyer and seller, the results are unpredictable, as agent Ira Jelinek and his clients found out recently.

They had already lost out on several houses this spring when a semi-detached came up for sale in Leslieville. The house at 104 Jones Ave. was listed with an asking price around the $600,000. They expected to compete against other contenders, as they had five or so times already. But to their surprise, on offer day, Mr. Jelinek’s clients were the only buyers to turn up.

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Posted on Friday, May 16, 2014 at 01:15PM by Registered CommenterElaine in | CommentsPost a Comment | References1 Reference

The New Year Heralds In a Seller’s Market In Canada’s Largest Cities

According to the Royal LePage House Price Survey and Market Survey Forecast released today, the average price of a home in Canada increased between 1.2 per cent and 3.8 per cent in the fourth quarter of 2013.

The survey showed year-over-year average price increases in the fourth quarter of 2013 of 3.6 per cent to $418,282 for standard two-storey homes and 3.8 per cent to $380,710 for detached bungalows, while the average price of a standard condominium rose 1.2 per cent to $246,530. Prices are expected to maintain healthy momentum into 2014, with Royal LePage projecting a 3.7 per cent increase nationally from 2013 and a shift to a seller’s market in the first portion of the year.

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Posted on Friday, February 7, 2014 at 04:54PM by Registered CommenterElaine in , | CommentsPost a Comment | References1 Reference

No winter slump on the sellers’ market: ‘It’s a 12-month business’

Winter tends to be a relatively slow time for selling real estate. But while many people wait for the spring thaw to list their property, slow season might just be the best time to attract a buyer. At least that’s the philosophy of Royal LePage veteran Elli Davis, who clinched eight deals in December and has been busy so far this month.

“I encourage people to list in December and January,”  she says, speaking from 30 years of experience. “Many listings expire Dec. 31. But when I take a listing in September or October, I try to get it to the end of January to really cover that holiday season.”

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Posted on Saturday, January 25, 2014 at 02:58PM by Registered CommenterElaine in | CommentsPost a Comment | References1 Reference

New rules allow mix of fee and percentage

Last week, the Government of Ontario passed Stronger Protection for Ontario Consumers Act, 2013 (also known as Bill 55), which immediately changes the rules around real estate fees to give brokerages and their clients more options for how they structure fees and commissions. It’s an important development that will be of particular interest for sellers, because they typically pay the commission for both the buyer’s and seller’s representatives.

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Posted on Saturday, December 21, 2013 at 10:55AM by Registered CommenterElaine in | CommentsPost a Comment | References1 Reference

Selling your own home is a big job

November is national Financial Literacy Month and this year the theme Financial Literacy Across Generations. This is the second in a series of Ask Joe columns touching on real estate decisions that buyers and sellers face at different times in their lives.

I can’t decide whether I should sell my home myself or hire a real estate agent. What are the pros and cons of each?

When the time comes to put your home on the market, it can be tempting to handle the transaction yourself — For Sale By Owner.

Keep in mind the significant time and effort it takes to sell a home. Going the FSBO route means you’ll be responsible for everything — setting the right price, advertising your property, letting interested buyers in, reviewing offers, negotiating terms and managing the paperwork once an agreement is reached. Yes, you’ll save the money that would have been paid to a real estate professional, but think about what your time is worth, and your level of knowledge and expertise in handling such a transaction.

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Posted on Saturday, November 9, 2013 at 01:11PM by Registered CommenterElaine in | CommentsPost a Comment | References1 Reference
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