Brantford Real Estate and Community News

Feb. 14, 2019

5 Reasons to Love Using A Real Estate Professional

 

5 Reasons to Love Hiring A Real Estate Pro [INFOGRAPHIC] | MyKCM

Highlights:

  • Hiring a real estate professional to guide you through the process of buying a home or selling your house can be one of the best decisions you will ever make!
  • An experienced realtor is there to help you with the contracts, explaining the process of buying and/or selling a home, negotiations, and pricing (both when making an offer or setting the right price for your home).
  • One of the top reasons to hire a local real estate professional is their extensive knowledge of your local Brantford real estate market and how the conditions in your specific neighborhood will impact your experience.
Feb. 11, 2019

Thinking of Selling Your House? This is a Perfect Time!

It is common knowledge that a great number of homes sell during the spring buying season. For that reason, many homeowners hold off putting their homes on the market until then. The question is whether or not that is a good strategy this year.

The other listings that come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market during this season in comparison to the rest of the year? The three months in the second quarter of the year are consistently the most popular months for sellers to list their homes on the market.

Last year, the total number of homes available for sale nationally in the month of January was 1,520,000. That number spiked to 1,870,000 by May! That's 23% more homes on the market! What does this mean to you? With the national job situation improving and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring; they are out looking for homes right now.

Bottom Line: If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition amongst buyers. Beat the rush of housing inventory that will enter the market and list your home today! Call Terry today at 519-802-8770 to find out what the best options are for you based on your situation. 

Feb. 7, 2019

Days On Market: Here's How Long It Will Take You "On Average" To Sell A House In 63 Canadian Markets

It takes less time to sell a house in quiet Maritime markets than it does in bustling Montreal. By Daniel Tencer

A row of houses reflected in a pond in Calgary, Alta.

AGINEGOLF VIA GETTY IMAGES
A row of houses reflected in a pond in Calgary, Alta.

Please find below an interesting article that we came across recently. Keep in mind that the days on market in this article may be taking into account every type of property or excluding certain types of properties because the Days on Market for the detached single-family homes that actually sold in Brantford, Ontario in 2018 was 26 days.

We've been hearing from our readers lately that real estate news focuses too much on Toronto and Vancouver and not enough on the rest of the country. This is a legitimate point. Both within the industry and among the public, there's been a fascination with these two markets. And there's some reason for that. As recently as 2015, the Toronto and Vancouver metro areas accounted for 29 per cent of all home sales in Canada. But with the recent slowdown in those cities, they're becoming less important to the overall market, accounting for only 22 per cent of sales in 2018. So it's time to take a look at what's going on in all those other markets that aren't Toronto or Vancouver. In the coming weeks, we'll be featuring stories on conditions in Canada's smaller and medium-sized markets — or at least as much data as we can find, because there are often gaps in those smaller communities. This week we are drilling down through Canadian Real Estate Association statistics to see just how long it takes to sell a house in the many varied markets across the country. Despite a sharp slowdown in home sales across southern Ontario in recent months, these cities are still the places where houses "fly off the shelves," as it were, at breakneck speed. The shortest time period in the country is in Windsor (yes, population-of-200,000 Windsor), where it typically takes 12 days to sell a house. Compare that to 134 days in Saguenay, Que., the longest period reported by any real estate board in Canada. In fact, the bottom of the list is dominated by municipalities in Quebec. Even Montreal, which had the strongest housing market among major cities in 2018, has a 74-day average selling time, compared to 23 days in Toronto and 56 in Greater Vancouver, which had far weaker housing markets in the past year. It takes less time to sell a house in most Maritime cities than it does in a bustling Montreal. Go figure.This isn't just about economics; there is something cultural going on here. Maybe that old trope that English Canadians are always in a hurry and French Canadians like to take their time has something to it. And it's also about the markets' legacy, or what people are accustomed to. After years of competitive housing markets, Ontarians are used to making these decisions quickly. Meanwhile, decades of a moribund housing market have made "fear of missing out" a nearly unheard-of phenomenon in Quebec. Looking at Montreal's housing market, which continues to be affordable after years of strong demand, while Toronto and Vancouver struggle with record levels of unaffordability, I can't help but think that Quebecers may be on to something here. But there is one other factor to consider: Recycled listings. Realtors in some parts of the country are taking houses off the market and re-listing them, to make the listing look "fresh." That can distort the numbers. It's unlikely this is making a huge difference in these numbers, but something to keep in mind. Here are the average days on market for houses across Canada. *For markets that distinguish between condo and detached home data, the number is for detached homes. Only province-wide numbers were available for Nova Scotia and P.E.I. Data was missing for some communities, particularly in B.C.

Days On Market: Here's How Long It Will Take You To Sell A House In 63 Canadian

Feb. 4, 2019

The KonMari Method: Helping You Prep Your House For Sale

 

The KonMari Method: Helping You Prep Your House For Sale | MyKCM

One of the biggest challenges sellers face when listing their house is decluttering. Cleaning out some of the more personal decorating choices allows buyers to imagine themselves living in the house. Those planning to sell soon are in luck! Marie Kondo, the inventor of the KonMari Method of Tidying Up, has gained popularity with her new Netflix series. She gives some great tips for sorting through years of accumulated possessions that we all collect in our homes. “The KonMari Method™ encourages tidying by category – not by location – beginning with clothes, then moving on to books, papers, komono (miscellaneous items), and, finally, sentimental items. Keep only those things that speak to the heart, and discard items that no longer spark joy. Thank them for their service – then let them go.” When you subjectively look at all of your belongings, you can sort through the ones that mean the most to you. Not only will you increase space for more joy-bringing items in your new home, but you will also have a much easier time packing the remaining belongings! “Remember, tidying up isn't about getting rid of stuff. It is about creating an environment that sparks happiness and improves your quality of life.” When selling your house, first impressions matter! Before you or your agent schedule a photographer to take photos for your listing, make sure to tour your home with fresh eyes. Look for any imperfections that a buyer might notice. When you sort through your more sentimental items, consider packing them away to ensure that you know where they all are. That way, they are safe during open houses and showing appointments. This will also cut down on the amount of packing you need to do right before you move!

Bottom Line: Whether you are selling your house to move up to a larger one, downsizing, or moving in with family, only bring the items that truly spark joy for you. This will not only help cut down on the items you move, but also ensures that you’re off to a great start in your new home!

Feb. 3, 2019

Brantford Real Estate Market Report for January 2019

Hi Everyone,

Here is your Brantford Real Estate Market Report for the month of January 2019 with the statistics for the detached single-family homes in the City of Brantford, the North End neighbourhoods, and the West Brant area. 

Brantford

The average sale price for a detached single-family home for all areas of Brantford in January 2019 was $402,678, which is down 2.68% compared to the average sale price of $413,775 for January 2018. There were 111 new listings of detached homes and 72 sales in the month, which gives us a sales-to-new listings ratio of 64.86% for the month of January. That means that 6-7 homes were sold for every 10 homes that were listed in the month, indicating a Seller's market for the City of Brantford as a whole. The number of new listings in Brantford were up 12.12% and the number of sales were up 26.32% in January 2019 vs January 2018. If you're curious about your home's value in this market, Click Here to Contact Us Now for a Free, No Obligation Market Evaluation of Your Home.

North End

The average sale price in Brantford’s North End neighbourhoods in January 2019 was $425,578, which is up 4.51% compared to the average sale price of $407,216 for January 2018. There were 29 new listings of detached homes and 18 sales in the month of January, which gives us a sales-to-new listings ratio of 62.07% for the month. That means that approximately 6 out of every 10 homes listed in the month were sold, indicating a Seller's market in the North End neighbourhoods last month. The number of new listings  in the North End areas were down 3.33% and the number of sales were down 5.26% in January 2019 compared to January 2018. Click Here to Check Out a few of the things we do to get Your Home Sold for Top Dollar!

West Brant

The average sale price in the West Brant area in January 2019 was $455,495, which is down 12.38% compared to the average sale price of $519,850 for January 2018. There were 20 new listings of detached homes and 19 sales in the month of January, which gives us a sales-to-new listings ratio of 95.00% for the month. That means that 9-10 homes were sold in January for every 10 homes that were listed in the month, indicating a very strong Seller's market in the West Brant neighbourhoods last month. The number of new listings in West Brant were up 5.26% and the number of sales were up 35.71% in January 2019 vs January 2018.

Terry's Take on the Brantford Real Estate Market

The month of January is typically a slower month with everyone recuperating after Christmas and New Year's and the busy holiday season. However, I found that there was a lot more activity in January this year compared to previous years as Sellers were wanting to get their homes on the market and Buyers were wanting to go out to view properties. The average sale price in Brantford was down slightly last month versus January 2018 but the number of new listings went up 12.12% and the number of sales went up 26.32% compared to last year. There are still a significant amount of out-of-town Buyers who are buying properties in Brantford as the demand for the houses for sale in Brantford remains strong, and the homes that are priced correctly and marketed aggressively are selling quickly and for an excellent price.  

The Terry Summerhays Team's listings in 2018 sold with an average sale price that is 3.96% above the asking price, and 5.76% higher than the Brantford Regional Real Estate Association's average sale price in 2018, which was 98.2% of the asking price. Simply put, We Sell Homes for More Money!! When you're selling your home, how much would an extra 5.76% on your sale price (and in your pocket) be worth to you? Don't just settle for a sign on your lawn, Click Here to find out why and how we sell our listings for MORE MONEY!!

If you are thinking about selling your home and you would like to get it sold fast and for an excellent price call Terry today at (519)802-8770 or Click Here to Contact Us Now for a Free, No Obligation Market Evaluation of Your Home.

Are you thinking about buying a home in Brantford? Click Here to View Today’s New Listings and to get more information about Brantford. The Terry Summerhays Team are a team of local real estate professionals who know the City of Brantford and surrounding areas inside and out. We know if a home is in a good neighbourhood or not, and we have the local knowledge and expertise to be able to advise our clients on whether or not the price of a home is too high, a fair price, or a great price. Contact us today for all of your real estate needs and receive the exceptional service and expertise that you deserve!

Thank you for your time and have a great day!

 

Terry

 

 

 

 

 

***Statistical information was compiled from data provided by the Brantford Regional Real Estate Association

Jan. 29, 2019

3 Things You Need to Know in a Shifting Real Estate Market

3 Things You Need in a Shifting Real Estate Market | MyKCM

Whether you are thinking of selling your house or buying a home, today’s real estate headlines can be confusing – perhaps even concerning. What is actually happening with mortgage rates? Are home values dropping or are they just rising at a slower pace? What impact will the economy have on the housing market? If you are either a buyer or seller (or both), you need to know what it will mean to you and your family if you go ahead with the move. You need to understand three things:

1. What is happening in the housing market right now?

Consumers must get past those fear-mongering headlines and gain a deep understanding of what is truly happening. How strong is buyer demand right now? How much competition do listings have today compared to what they will have in the spring? People want to make an educated decision on what is probably their family’s greatest financial asset.

2. Why is it happening?

Understanding the individual pieces that impact the sale or purchase of real estate is important. Understanding how those pieces impact each other is critical. How does the amount of a down payment impact the mortgage rate a buyer will be offered? Can you still price your house a ‘little ahead’ of the market and still be sure it will sell?

3. How do the first two affect your local market?

Basically, you want an understanding of the overall housing market and a simple and effective explanation of how it will impact your personal real estate goals. Bottom Line The best way to get all three is to work with a professional who understands this shifting real estate market and can expertly guide you on the journey to reach your housing goals. Let’s get together to discuss what today’s market means for you.

Call or Text Terry today at 519-802-8770 to schedule a free consultation.

 

 

 

 

Jan. 16, 2019

Why It Makes No Sense to Wait until Spring to Sell Your Home

The price of any item (including residential real estate) is determined by the theory of "supply and demand." If lots of people are looking to buy an item and the supply of that item is limited, then the price of that item increases. The supply of homes that are for sale dramatically increases every spring. 

Putting your home on the market now, rather than waiting for increased competition in the spring, might make a lot of sense.

Bottom Line.....Buyers in the market during the winter are truly motivated purchasers and they want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate at this time of year.

If you're thinking about selling your home, call Terry at 519-802-8770 to schedule a free consultation so you can make an informed decision. 

Jan. 3, 2019

Brantford Real Estate Market Report for December 2018

Hi Everyone,

Here is your Brantford Real Estate Market Report for the month of December 2018 with the statistics for the detached single-family homes in the City of Brantford, the North End neighbourhoods, and the West Brant area. 

Brantford

The average sale price for a detached single-family home for all areas of Brantford in December 2018 was $405,776, which is 4.32% higher than December 2017. There were 45 new listings of detached homes and 60 sales in the month, which gives us a sales-to-new listings ratio of 133.33% for the month of December. That means that 13 homes were sold for every 10 homes that were listed in the month, indicating a very strong Seller's market for the City of Brantford as a whole with more homes being sold than were being listed in December. If you're curious about your home's value in this market, Click Here to Contact Us Now for a Free, No Obligation Market Evaluation of Your Home.

North End

The average sale price in Brantford’s North End neighbourhoods in December 2018 was $429,167, which is up 6.76% compared to December 2017. There were only 10 new listings of detached homes but 9 sales in the month of December, which gives us a sales-to-new listings ratio of 90% for the month, indicating a strong Seller's market in the North End neighbourhoods last month. Click Here to Check Out a few of the things we do to get Your Home Sold for Top Dollar!

West Brant

The average sale price in the West Brant area in December 2018 was $472,074, which is up 5.95% higher than December 2017. There were 12 new listings of detached homes and 19 sales in the month of December, which gives us a sales-to-new listings ratio of 158.33% for the month.That means that there were almost 1.6 times as many homes sold than were listed in the West Brant areas in the month of December, indicating an extreme Seller's market in the West Brant neighbourhoods last month.

Terry's Take on the Brantford Real Estate Market

The month of December is typically a slower month with everyone being extra busy getting ready for Christmas and enjoying the holidays with their family and friends. As you can see above, the average sale price across the board was up compared to December of 2017 and there were more homes being sold than were being listed in December. With the home prices in Brantford still being lower than the surrounding areas there is a strong demand for the houses for sale in Brantford and when there are more homes being sold than being listed it further increases that demand. This can result in a very strong sale price when the right listing strategy is used for a home and when it is done properly.

The Terry Summerhays Team's listings in 2018 sold with an average sale price that is 3.96% above the asking price, and 5.76% higher than the Brantford Regional Real Estate Association's average sale price in 2018, which was 98.2% of the asking price. Simply put, We Sell Homes for More Money!! When you're selling your home, an extra 5.76% on your sale price is a lot more money in your pocket! Don't just settle for a sign on your lawn, Click Here to find out why and how we sell our listings for MORE MONEY!!

If you are thinking about selling your home and you would like to get it sold fast and for an excellent price call Terry today at (519)802-8770 or Click Here to Contact Us Now for a Free, No Obligation Market Evaluation of Your Home.

Are you thinking about buying a home in Brantford? Click Here to View Today’s New Listings and to get more information about Brantford. The Terry Summerhays Team are a team of local real estate professionals who know the City of Brantford and surrounding areas inside and out. Contact us today for all of your real estate needs and receive the exceptional service and expertise that you deserve!

Thank you for your time and have a great day!

 

Terry

 

***Statistical information was compiled from data provided by the Brantford Regional Real Estate Association

Dec. 27, 2018

4 Reasons to Buy A Home This Winter!

4 Reasons to Buy A Home This Winter! | MyKCM

Here are four great reasons to consider buying a home today instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Insight report revealed that home prices have appreciated by 5.6% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.7% over the next year. The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

The Ontario Real Estate Association states "In line with financial market expectations, the Bank of Canada announced on October 24, 2018 it was raising its trend-setting  overnight lending rate from 1.5% to 1.75%. The Bank made it clear that it intends to further raise interest rates: "...the policy interest rate will need to rise to a neutral stance to achieve the inflation target" - with the "neutral" interest rate currently thought to be between 2.5% and 3.5%. An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You are Paying a Mortgage

There are some renters who have not yet purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person building that equity. Are you ready to put your housing cost to work for you?

4. It’s Time to Move on With Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise. But what if they weren’t? Would you wait? Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings. Give Terry a call today at 519-802-8770 and let's go over things to see if buying a home is the right choice for you.

Dec. 20, 2018

Pancake Breakfast with Santa 2018

 

A Big Thank you to our amazing clients who were able to make it out this year for our Pancake Breakfast with Santa. We wish all of you and your families a Merry Christmas and a Happy New Year!

Wishing You the Best in 2019,

Everyone at The Terry Summerhays Team