Brantford Real Estate and Community News

July 5, 2018

Brantford Real Estate Market Report for June 2018

Hi,

Here is your Brantford Real Estate Market Report for the month of June 2018. We have broken down the statistics to focus on the detached single-family homes in the City of Brantford as a whole, in the North End neighbourhoods and in the West Brant area. There are not enough sales in the other neighbourhoods to be able to provide an accurate assessment of the activity in those areas. 

Brantford

The average sale price for a single-family detached home for all areas of Brantford in June 2018 was $415,158, which is up 8.12% or an average of $31,166 higher than June 2017. There were 198 new listings of detached homes and 140 sales in the month, which gives us a sales-to-new listings ratio of 70.71% for the month. That means that 7 homes were sold for every 10 homes that were listed in June 2018, indicating a Seller's market for the City of Brantford as a whole. 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 June 2018 was $488,538, which is up 15.96% or an average of $67,228 higher than June 2017. There were 57 new listings of detached homes and 48 sales in the month, which gives us a sales-to-new listings ratio of 84.21% for June 2018. That means that almost 8.5 homes were sold for every 10 homes that were listed in the North End areas in the month of June, indicating a very strong Seller's market last month for the neighbourhoods in the North End areas of Brantford. 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 June 2018 was $459,033, which is down 1.17% or an average of $5,424 lower than June 2017. There were 42 new listings of detached homes and 24 sales in the month, which gives us a sales-to-new listings ratio of 57.14% for June 2018. That means that approximately 5.5 homes were sold for every 10 homes that were listed in June 2018, indicating a fairly balanced market for the month of June in the West Brant area. The inventory of homes in the West Brant area has been building up over the past few months which has given the Buyers more homes to choose from, and made it more competitive for the homes that are for sale.  

Terry's Take on the Brantford Real Estate Market

The Brantford real estate market is hot! The out-of-town Buyers are flocking to Brantford because the home prices in Brantford are still very attractive in comparison to the surrounding areas. I presented 15 Offers on a home last week and 9 of those Offers were from out-of-town Buyers. The Average Sale Price in Brantford last month was up 8.12% versus June 2017 and the high demand for homes for sale in Brantford has resulted in a lot of multiple Offer situations, especially in certain neighbourhoods and price ranges.

If you are thinking about selling your home now is a great time 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. You can also Click Here to check out a few of the things we do to get Your Home Sold for Top Dollar!

If you are looking for a home in the Brantford area Click Here to View Today’s New Listings and to get more information about Brantford.

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

June 22, 2018

Just Listed - 303 Nelson Street, Brantford, Ontario

$269,900 | 2 BEDROOMS | 1 BATHROOM

A beautifully renovated home on a quiet street that is close to parks, schools, shopping, restaurants and highway access. This lovely home has an inviting foyer for greeting your guests, an open concept and bright main floor featuring a cozy living room with attractive hand-scraped walnut flooring, pot lighting, crown moulding, arched walkways with bevelled corners, and a big bay window, a beautiful kitchen with soft-close cupboards, under cabinet LED lighting, ceramic and glass tile backsplash, a lazy Susan, and a breakfast bar. Click Here to View the Full Listing(if still available) with Large Photos and More Information. An immaculate 4pc. bathroom with tile flooring, tile backsplash, and a full shower insert with a ceramic and glass tile ceiling, an impressive oak staircase that takes you up to the unique loft with 4 sealed skylights that allow for lots of natural light, a window on each end for a nice cross breeze to pass through, more LED lighting, plenty of storage space in the knee walls that run the length of the roof on both sides, and an elegant office area. The full basement has a large exercise room, a workshop area, the laundry room, and more storage space. Patio doors at the back of the house with integrated aluminum blinds lead you out to a large pressure-treated deck with a cedar finish that will be a great space for entertaining with family and friends in the private backyard that is surrounded by decorative hedges and beautiful gardens. Click Here to View the Full Listing(if still available) with Large Photos and More Information. This amazing home has undergone 2 sets of renovations(one in 2012 and one in 2014) and has too many features and recent upgrades to list here but a comprehensive list of upgrades is available upon request. A perfect home for a first-time buyer or retiree sitting on a spacious corner lot in a great neighbourhood and with nothing to do but move in and enjoy! Call Terry today at 519-802-8770 to book a viewing before it’s gone!

Posted in Listings
June 15, 2018

Just Listed - 48 Wayne Drive, Brantford, Ontario

$349,900 | 2 BEDROOMS | 2 BATHROOMS

A lovely home on a quiet street in a highly sought-after North End neighbourhood that is close to the Wayne Gretzky Sports Centre, schools, parks, shopping, and highway access. This well-maintained home features an inviting foyer for greeting your guests, a spacious living room(hardwood flooring under the carpeting) for entertaining with a large front window, a bright kitchen that looks out to the backyard, a formal dining area for family meals, good-sized bedrooms, an immaculate main floor bathroom, and access to the deck in the huge backyard where you can enjoy summer barbecues with family and friends. The finished basement has a cozy recreation room for entertaining, an office or den, a 2pc. bathroom with a separate shower that is in the laundry room, and a workshop area. Recent updates include new roof shingles in 2011, a new furnace in 2016, mostly updated vinyl windows, and more. A perfect starter home in a great North End neighbourhood! Call Terry today at 519-802-8770 to book a viewing before it’s gone!

Posted in Listings
June 11, 2018

A Beautiful Executive Home on a 1.5 Acre Lot! 70 McBay Road, Brantford, Ontario

$1,199,000 | 4 BEDROOMS | 4 BATHROOMS

A stunning executive home set back from the road and sitting on a beautifully landscaped 1.48 acre lot that backs onto a field with picturesque views of the rolling farmland. This spectacular custom-built home boasts 3,855 square feet on the main floor and upstairs featuring an inviting open concept family room with a vaulted ceiling, lots of hardwood flooring and pot lighting throughout the home, a wall of windows with a unique fireplace centrepiece, an elegant dining room for family meals, and a gorgeous gourmet kitchen featuring custom cabinets with soft-close drawers, granite countertops, tumbled marble backsplash, an island breakfast bar, and patio doors leading out to the private patio in the peaceful backyard. Click Here to View the Full Listing(if still available) with Large Photos and More Information! This impressive home is very bright with lots of windows that allow for an abundance of natural light, a grand staircase with wrought iron spindles going up to the 2nd floor where you will find a cozy sitting area that looks out to the front of the house, generous-sized bedrooms, a beautiful 4pc. bathroom with a built-in vanity and more granite countertops, and a convenient 2nd floor laundry room. The master bedroom enjoys a walk-in closet and a private 5pc. ensuite bathroom with double sinks, a soaker tub, and a walk-in glass shower. The finished basement boasts a huge recreation room for entertaining with family and friends, a fireplace, another bathroom, and plenty of storage space. There is a professional golf course quality inground sprinkler system that uses the water collected from the roof, and recent improvements include a new front door, extensive landscaping throughout the property, a paved driveway, all LED lighting, and more. A magnificent home on a beautiful property that is only minutes from Brantford, Ancaster and Hamilton. Call Terry today at 519-802-8770 to book a viewing for this amazing property! Click Here to View the Full Listing(if still available) with Large Photos and More Information!

Posted in Listings
June 7, 2018

Millennials Are Skipping Starter Homes for Their Dream Homes

Millennials Are Skipping Starter Homes for Their Dream Homes | MyKCM

A new trend has begun to emerge. With home prices skyrocketing in the starter home category, many first-time homebuyers are skipping the traditional starter homes and moving right into their dream homes.

What’s a Starter Home?

A starter home is typically a two-bedroom home or sometimes even a small three bedroom. “Prices can vary widely by neighbourhood but starter homes in Brantford on average cost between $150,000 to $300,000, while trade-up homes cost between $300,000 to $500,000.”

Finding Their Forever Homes Now

There are many factors that delayed older millennials (ages 25-35) from buying a home earlier in their lives. The aftereffects of the Great Recession teaming up with larger education costs forced many to either remain living in their parent’s homes or to rent.

A lot of millennials have been able to break into better-paying jobs which has helped spur down payment savings. As the dream of home ownership comes closer to reality, many millennials are saving for their forever homes.

According to the latest statistics from NAR, 30% of millennials bought homes for $300,000 or more this year (up from 14% in 2013). 

More and more millennials are settling down, getting married, and starting families, which is a huge factor driving them to look for larger homes.

Increased competition in the starter home market has also been a driving force in waiting to afford their dream homes. Inventory in the starter home market is down from last year. This has driven prices up and has led to bidding wars.

Many first-time buyers who were originally looking for starter homes are realizing that for just a little bit more of an investment, they could afford a trade-up home instead.

Bottom Line

If you plan on purchasing your first home this year, let’s get together to determine how much house you can afford. You may be pleasantly surprised. Click Here to Fill Out a Contact Request Form.

 

 

June 6, 2018

Brantford Real Estate Market Report for May 2018

 

Hi,

Here is your Brantford Real Estate Market Report for the month of May 2018. We are looking at the statistics for the detached single-family homes in the North End neighbourhoods, the West Brant area, and for the City of Brantford as a whole.

Brantford

The average sale price for a single-family detached home from all areas of Brantford in May 2018 was $416,897, which is down 0.14% or $577 lower than May 2017.  There were 241 new listings of detached homes and 146 sales in the month, which gives us a sales-to-new listings ratio of 60.58% for May 2018. These numbers indicate a slight Seller's market for the City of Brantford as a whole last month.

North End

The average sale price in Brantford’s North End neighbourhoods in May 2018 was $449,801, which is down 4.09% or $19,199 lower than the crazy market we had in May 2017. There were 58 new listings of detached homes and 39 sales in the month, which gives us a sales-to-new listings ratio of 67.24% for May 2018. That means that approximately 2 out of every 3 homes that were listed in the North End areas in the month of May were sold, indicating a Seller's market last month for the neighbourhoods in the North End areas of Brantford.

West Brant

The average sale price in the West Brant area in May 2018 was $489,397, which is down 6.70% or $35,170 lower than May 2017. There were 67 new listings of detached homes and 37 sales in the month, which gives us a sales-to-new listings ratio of 55.22% for May 2018. That means that a little more than half of the homes that were listed in West Brant last month were sold, indicating a fairly balanced market for the month of May in the West Brant area.

Terry's Take on the Brantford Real Estate Market

The Average Sale Price in Brantford last month was almost the same as it was in May 2017, which is pretty good considering the crazy market we experienced in May 2017. There are a lot of Buyers who are looking for a home in Brantford but there is still a low inventory of homes, especially in certain neighbourhoods and price ranges. Another interesting statistic from the month of May was the high demand for houses for sale in Brantford for under $500,000 because 76.71% of the detached single-family homes that were sold last month were priced under $500,000. This explains why so many of the homes for under $500,000 are receiving multiple Offers. 

If you are thinking about moving this year call Terry today at (519)802-8770 or Click Here to Contact Us Now for a Free, No Obligation Home Evaluation. You can also Click Here to check out a few of the things we do to get Your Home Sold for Top Dollar!

If you are looking for a home in the Brantford area Click Here to View Today’s New Listings and to get more information about Brantford.

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

June 5, 2018

5 Reasons Why to Sell This Summer!

5 Reasons Why to Sell This Summer! | MyKCM

Here are five reasons why listing your home for sale this summer makes sense.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand has been very strong. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competing with each other to buy the same home.

You can take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory is well under the 6-month supply needed for a normal housing market. This means that there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon which means the Buyers will have more homes to choose from. Don’t wait until this other inventory comes on the market before you decide to sell.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping. 

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has forced these markets into a buyer’s market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly, AND you’ll be able to find a premium home to call your own!

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

Look at the reason you are thinking about selling in the first place and determine whether it is worth waiting. What would the new home give you that you don't already have? What would be important to you in your new home? What would making a move do for you and your family?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Click Here to Find Out What We Do to Sell Your Home and Why Our Listings Sell For More Money!

 

 

June 5, 2018

Moving Up to Your Dream Home? Don't Wait!

Moving Up to Your Dream Home? Don’t Wait! | MyKCM

Mortgage interest rates have risen, and many assume that if mortgage rates rise, home values will fall. History however has shown us that this is not true.

How can prices rise while mortgage rates increase?

“In the current housing market, the driving force behind the increase in prices is a low supply of homes on the market combined with historically low rates. As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constrained supply and continue to put upward pressure on home prices.”

Bottom Line

If you are thinking about moving up to your dream home, waiting until later this year and hoping for prices to fall may not be a good strategy. Call Terry today at (519)802-8770 or Click Here to Fill Out the Contact Form for a Free Over-the-Phone Consultation. 

 

 

June 4, 2018

4 Steps to Follow When Presenting an Offer in Today's Market

4 Steps to Follow When Presenting an Offer in Today’s Market! | MyKCM

So, you’ve been searching for that perfect house to call a ‘home,’ and you’ve finally found it! The price is right, and in such a competitive market, you want to make sure that you make a great offer so that you can guarantee that your dream of making this house yours comes true!

Below are 4 steps provided by The Terry Summerhays Team to help buyers make offers, along with some additional information for your consideration:

1. Determine Your Price

“You’ve found the perfect home and you’re ready to buy. Now what? Your real estate agent will be by your side, helping you determine an offer price that is fair.”

Based on your agent’s experience and key considerations (like similar homes recently sold in the same neighbourhood or the condition of the house and what you can afford), your agent will help you to determine the offer that you are going to present.

Getting pre-approved will not only show home-sellers that you are serious about buying, but it will also allow you to make your offer with confidence because you’ll know that you have already been approved for a mortgage in that amount.

2. Submit an Offer

“Once you’ve determined your price, your agent will draw up an offer, or purchase agreement, to submit to the seller’s real estate agent. This offer will include the purchase price and terms and conditions of the purchase.”

Talk with your agent to find out if there are any ways in which you can make your offer stand out in this competitive market! An experienced real estate agent like Terry Summerhays, who is very active in the neighborhoods in Brantford will be instrumental in helping you put in a solid offer.

3. Negotiate the Offer

“Oftentimes, as long as you are not competing with other Offers the seller will counter the offer, typically asking for a higher purchase price or to adjust the closing date. In these cases, the seller’s agent will submit a counteroffer to your agent, detailing their desired changes, at this time, you can either accept the offer or decide if you want to counter.

Each time changes are made through a counteroffer, you or the seller have the option to accept, reject or counter it again. The contract is considered final when both parties sign the written offer.”

 

4. Act Fast

The inventory of homes listed for sale has remained well below the 6-month supply that is needed for a ‘normal’ market. Buyer demand has continued to outpace the supply of homes for sale, resulting in Buyers needing to compete for their dream homes.

Make sure that as soon as you decide that you want to make an offer, you work with your agent to present it as quickly as possible.

Bottom Line 

Whether buying your first home or your fifth, having a local real estate professional like Terry Summerhays, who is an expert in the Brantford real estate market on your side is your best bet in making sure the process goes smoothly. Let’s talk about how we can make your dreams of homeownership a reality! Click Here to Fill Out the Contact Form for a Free Over-the-Phone Consultation.

 

 

 

June 1, 2018

4 Reasons Why Summer Is a Great Time to Buy a Home

4 Reasons Why Summer Is a Great Time to Buy a Home! | 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 Insights reports that home prices have appreciated over the past 12 months and the same report predicts that prices will continue to increase over the next year.

Home values will continue to appreciate for years. Waiting to buy a home no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Most experts predict that rates will rise over the next 12 months. An increase in rates will impact YOUR monthly mortgage payment. That means 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 a home 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 have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you? If so, Contact Us Now to learn how we can help 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. What is important to you about buying a home? 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.

Call Terry today at (519)802-8770 and let's get started!