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Toronto Home Sales off to a strong start in 2012

01-17-12
David Pylyp
David Pylyp: Real Estate Agent in Toronto, ON
  • view my blog
  • Office: (905) 272-3434
  • Mobile: (647) 218-2414
  • Secondary: (905) 361-3387

We are starting a New Year with Resolutions and Optimism! And an price increase of 8.5% averaged over last year.

The first real estate post that I notice is that "the eventual increase in interest rates will lead to a decline in home prices (probably in the magnitude of 10% - 15%)"
The ink was barely cold on the presses when the pundits were howling about interest rate increases. When the Bank of Canada announced only 3 days earlier.

TORONTO, January 17, 2012 – Greater Toronto REALTORS® reported 1,506 sales through the TorontoMLS® system during the first two weeks of January 2012. This result represented a six per cent increase compared to the first 14 days of January 2011. New listings were also up on a year-over-year basis, but by a lesser 3.7 per cent.


“The market didn’t miss a beat after the holiday season, with robust sales growth continuing and sellers’ market conditions remaining in place. Strong competition between buyers continued to push the average selling price higher in the Greater Toronto Area relative to a year ago,” said Toronto Real Estate Board (TREB) President.


The average selling price during the first two weeks of 2012 was $444,473 – up by more than 8.5 per cent compared to the same period in 2011.


“Prices were up for most major home categories in the GTA in comparison to last year. The strongest price growth was for single-detached homes in the City of Toronto. The average price of singles in the 416 area code was up by 22 per cent year-over-year, pointing to a greater weighting of higher end detached homes changing hands compared to the same time last year,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.


http://www.torontorealestateboard.com/market_news/release_market_updates/news2012/nr_mid_month_0112.htm


So here we are the start of a new sales year. Interest rates appear to be stable for the remainder of 2012. Inventory [available homes for sale] continue to be in short supply with the inevitable multiple offers when more than one buyer wants the same house.


Many of the pundits are talking about construction cranes and the inevitable lack of occupants for these newly constructed properties. Now lets add the one variable that no one is discussing; The vacancy factor for Toronto rentals is very competitive. The Vacancy Rate appears to be around 1%. ONE percent. Rentals in high rise condo average $1,600 to $2,000 for a two bed two bath unit at Humber Bay Shore or Square One Mississauga


All of this may indeed be for only a limited time as demand may cause the rates to increase because of borrowing demand. Call now and let's beat the rush!


What do you think? Add your comments.

6 Comments
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HST and Real Estate Resale in Toronto / Mississauga

06-30-10
David Pylyp
David Pylyp: Real Estate Agent in Toronto, ON
  • view my blog
  • Office: (905) 272-3434
  • Mobile: (647) 218-2414
  • Secondary: (905) 361-3387
Save the HST on Toronto GTA Real Estate

When they say that there are only two truisms in Life; Death and Taxes, let me at least help you with one. The Toronto Home HST TAX Buster!

During the malaise of Summer 2010 and to help with seemingly unmotivated buyers, we are prepared to absorb the entire HST portion of your real estate transaction as it pertains to the sale of your home.
This is intended to apply to Resale Homes.

We will establish a reasonable asking Price. Promotion, Provide you with a property video that will be seen by hundreds of inquiring shoppers on Realtor.com, MLS.ca and featured on my sites. Dozens of Photo's in addition to the limited photo stream that is available on MLS.ca, Adverting on myriad related real estate sites to get viewership and discovery, Presentation; the assistance of a professional home stager for the initial consultation. Most importantly, Negotiation. I will do my best to inform you of ALL the options that are available to you during the marketing period, especially during the offer and through transaction management.

How to avoid a Bad Romance in Real Estate


How will your home be presented to the Buying Public online? With Google streetview so that buyers can place the homes photo's in context to neighbours and neighbourhood, A Picassa Slide presentation of the interior photo's and street that didn't make it into the top 9 with the Toronto Real Estate Board but still need to be seen, Video to place it all in a framed package. keyword advertising that is product specific to whom you are seeking as a buyer.

Bungalow in Etobicoke for Sale Sample

There will be a surge of homes coming off the market as listings expired at the end of June and Sellers need to re evaluate the Marketing, Promotion and Pricing of their homes. These listings will be competition for your buyer. How will we attract them? Marketing and Promotion do matter.

David Pylyp Listing Presentation What do I actually do?

Interest Rate Specials are available from Astrum at Prime Minus 90 Get the current rates here;
http://www.davidpylyp.com/homeresources.cfm?advertiserid=1206 Your participation could save you $6 - $9,000 over the course of five years in a mortgage. This savings program is available to my clients only.

Thats not all, If you are selling.... You will need legal services. Stan Gelman, Lawyer, Mississauga, has graciously offered a Summer Sizzler of his own for all new deals closing in July and August 2010 of $400 per sale plus disbursements. Your own situation may cause this to change slightly.

Have a look at Stan Gelman's Land Transfer Tax Calculator to see how much Land Transfer Tax is payable on your next purchase. http://www.davidpylyp.com/ShowResources.cfm?Pageid=52214&TypeOfPage=6

To Contact David Pylyp Call 905 361 3387 or email david@davidpylyp.com

I invite you to call me over for a coffee and ask whatever questions you like. Its not as important to know what I know, Its more important for you to know that I care.

Lets start with the easy part
Call David Pylyp
RE/MAX Realty Specialists Inc.,
905 361 3387 or cell 647 218 2414

If this is not the type of marketing and service you are receiving, what are you getting?
Google David Pylyp Toronto yourself
6 Comments
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Lets Connect in 2K10 Toronto - Oakville

01-20-10
David Pylyp
David Pylyp: Real Estate Agent in Toronto, ON
  • view my blog
  • Office: (905) 272-3434
  • Mobile: (647) 218-2414
  • Secondary: (905) 361-3387

So here we are it’s a new decade 2K10

It’s a new decade and you have found a best way on the internet to find an experienced professional tech savvy realtor in the Toronto GTA serving Etobicoke Mississauga and Oakville.

I could talk to you about;

  • What sold on that street or neighbourhood
  • How much per square foot in that condo complex
  • How many days was it on the market
  • How will you deal with Mom & Dad’s Housing needs
  • First Time Buyer rebates and Land transfer Taxes
  • Securing and Booking your financing commitment and interest rate

But we need to connect;

  • You need to know that I will pay attention to your needs
  • I will listen to your list of requirements
  • You need to be confidant that I won’t push you into something you don’t want
  • We will devote the time, energy and resources that you need for your purchase
  • We will look at as many houses as you need to see, to feel comfortable
  • We will explain every aspect of your real estate transaction as many times as necessary
  • You and I will continue our dialogue long after you have moved in to discuss what mortgage renewal rates are available for you and what is selling on your street.

We will (with your permission) advise the people living on your new street who will be moving in, so that you can feel welcomed and make new friends easier.

Drop in and Visit me at our Square One offices for a coffee or tea. We can discuss whatever is on your mind. Call me at 647 218 2414 or 905 361 3387 email: david@davidpylyp.com

0 Comments
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Market Observations Toronto Real Estate

03-05-09
David Pylyp
David Pylyp: Real Estate Agent in Toronto, ON
  • view my blog
  • Office: (905) 272-3434
  • Mobile: (647) 218-2414
  • Secondary: (905) 361-3387

While everyone is concerned about job losses and the declining number of sales a curious thing is happening.

Greater Toronto REALTORS® Reported 4,120 Resale Housing Transactions in February

March 05, 2009 -- Toronto Real Estate Board Members reported 4,120 sales in February 2009 compared to 6,015 sales recorded in February 2008. The average home price was $361,305 last month compared to $382,048 during the same month last year.

That's not a very long banner.

BUT the details are what is interesting;

In the West section ( that I serve) Last year Feb 08, we had 7,359 listings with 2,358 sales. A ratio of approximately one in four that sold or 32.04%

This Feb. 09, we had 7,944 listings with 2544 sales. A ratio of approximately one in four that sold or 32..02%

Complete table for last 14 month period of West Toronto Sales.

There are two vastly different perspectives I wish to draw your attention to;

While everyone is screaming at the top of their lungs that things are bad, it is exactly as it was statistically as was last year at this time.

The number of available listings and the number of sales during that month period are almost identical.

There has been no dramatic increase in the number of for sale signs, There have been no huge upswings in Power of Sales or foreclosures, and indeed families are not living in the streets.

Yes, it would apprear that the average price of homes has trended slightly downward; but if eleven Million dollar homes sold into that same average calculation the numbers would be displayed (spin would be different). The headline I heard tonight was average homeowner lost $20,000.

OR the sold prices are averaging 5% difference from last year. Which headline sounds better to keep you on the edge of your seat?

Complete Download of the Market Watch Report is available here

While out in Markland Wood this past Wednesday with Steven D'Sousa, CBC Videographer, I was asked "Where are all the For Sale Signs?" I tried to explain, that in mature (40 + Years) neighbourhoods there are an average of 3.7 to 4.2% of homes sold in any given year. Given that ratio, a given neighbourhood will have only 37 to 42 listings in one year. Those buyers that want these desireable locations in the west end of Toronto, will decide to buy them or wait.

When asking prices are adjusted (reduced) they will at some point find a buyer. We are currently in a buyer's market with Purchaser's being able to negotiate incredible deals. This may change while the talking heads and pundits are bickering on the evening news and in the fall you may see a change in the ratios. By the time you realise the change your negotiation opportunity has passed you by.

If you are considering the sale of your home in west Toronto / Etobicoke / Mississauga I would like to hear from you. Contact me at 647 218 2414.

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Buying on the Slide Toronto Buyers Advantage

02-16-09
David Pylyp
David Pylyp: Real Estate Agent in Toronto, ON
  • view my blog
  • Office: (905) 272-3434
  • Mobile: (647) 218-2414
  • Secondary: (905) 361-3387
Buying during a down turn can be nerve wracking; unless you truly understand the process.

If you are a tenant; let's assume your rent is $1500 and you would like to WAIT out the market. You are gambling with $54,000 in real dollars over the next 3 year period.

Lets consider Buying a house and Saving you that $ 50,000 off the purchase price that would have been made only months ago into early 2008.

I invite you to call me at 647 218 2414

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