Brantford Real Estate and Community News

Aug. 5, 2020

Brantford Real Estate Update for August 2020

 

Hi Everyone,

***PLEASE WATCH THE VIDEO ABOVE*** Here is your Brantford Real Estate Update for August 2020 with the statistics from last month for the detached residential 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 July 2020 was $559,680, which is up by 22.95% or $104,456 higher compared to the average sale price of $455,224 in July 2019. The sales-to-new listings ratio in July was 87.79%, which means that almost 9 homes in Brantford were sold for every 10 homes that were listed, indicating a very strong Seller's market last month. 

North End

The average sale price in Brantford’s North End neighbourhoods in July 2020 was $573,532, which is up 23.34% or $108,539 compared to the average sale price of $464,993 in July 2019. The sales-to-new listings ratio in the North End areas last month was 100.00%, which means that 10 homes were sold in the North End neighbourhoods for every 10 new listings in the North End that came on the market, indicating a very strong Seller's market in the North End areas.

West Brant

The average sale price in the West Brant area in July 2020 was $698,569, which is up by 23.87% or $134,635 compared to the average sale price of $563,934 in July 2019. The sales-to-new listings ratio in West Brant for the month of July was 96.97%, which means that almost 10 homes in West Brant were sold for every 10 homes that came on the market, indicating a very strong Seller's market in the West Brant areas.

Terry's Take on the Brantford Real Estate Market

The real estate market in Brantford was as strong last month as it's ever been, including the crazy market we had back in 2017, which is mostly due to the high demand for the houses for sale in Brantford and the low supply of homes that are available for sale. Even though the # of new listings were down 19.25% last month compared to a year ago, the # of sales were up 11.03%. Almost all of our listings have been receiving multiple offers and selling for well above their asking prices! We are finding that with our aggressive marketing to areas outside of Brantford, such as Toronto, Oakville, Hamilton, Mississauga, Brampton, Burlington, Milton, Guelph, Kitchener, Cambridge, Waterloo, and so on, we are getting a lot of Buyers from those areas who are wanting to move to Brantford and they are finding the prices in Brantford to be very attractive compared to where they currently live.

If you live in Brantford or Brant County and you are planning on making a move this year, give us a call or text and we can go over your best options for making a move in this market and show you exactly how and why we will sell your home for more money! You can Call or Text The Terry Summerhays Team at 519-802-8770.

To learn more about how Terry Summerhays is able to consistently sell his listings for 4%-6% more money year-after-year check out our proven and aggressive Summerhays Selling System so you can sell your Brantford home faster, easier, and put more money in your pocket!

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

July 30, 2020

Summer is the New Spring for Real Estate

Summer is the New Spring for Real Estate [INFOGRAPHIC] | MyKCM

Some Highlights

  • The health crisis slowed the market this spring, so buyers are jumping back into the market to make their moves this summer.
  • Check these 10 items off your to-do list so your house is ready to sell while buying is hot!
  • Call The Terry Summerhays Team today at 519-802-8770 so we can help you to prepare your house for the sizzling summer market!
July 28, 2020

Not All Agents Are Created Equal

Not All Agents Are Created Equal | MyKCM

In today’s fast-paced world where answers are just a Google search away, there are some who may question the benefits of hiring a real estate professional when selling a house. The reality is, the addition of more information can lead to more confusion. A real estate agent can be your essential guide, but truth be told, not all agents are created equal. Finding the right agent for you and your family should be your top priority when you’re ready to sell your house.

The right agent is the person who can truly walk you through the whole process, look out for your best interest, and seamlessly lead you through all the steps along the way. In today’s complex market, the way we execute real estate transactions is changing constantly, especially as more elements can be done virtually. Making sure you have the best advice on your side is more important than ever.

So, how do you choose the perfect agent?

It starts with trust. You must trust the advice this person is going to give you, and you’ll want to begin by making sure you’re connected to a true professional. An agent can’t give you perfect advice because it’s impossible to know exactly what’s going to happen at every turn – especially in this unique market. A true professional agent can, however, give you the best advice possible based on the information and situation at hand, helping you make the necessary adjustments and best decisions along the way. The right agent – the professional – will get you the best offer available. That’s exactly what you want and deserve.

What do you need to trust your agent to do?

1. Navigate the Process

There are over 230 possible steps that take place during a successful real estate transaction. Don’t you want someone who has been there before, someone who knows what these actions are, to ensure you have a positive selling experience?

2. Negotiate on Your Behalf

Today, hiring a trusted and talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step – from the buyer submitting an original offer, to the possible renegotiation of that offer after a home inspection, to the potential cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.

3. Price Your House Competitively

There’s so much information in the news and on the Internet about home sales, prices, and mortgage rates. How do you know what’s going on in our local area? Who do you turn to in order to competitively and correctly price your home at the beginning of the selling process?

Dave Ramsey, known as the financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring a trusted professional who has a finger on the pulse of the market and is eager to help you learn will make your experience an informed and educated one. You need someone who’s going to tell you the truth, not just what they think you want to hear.

Bottom Line

Today’s real estate market is highly competitive. Having a trusted professional who’s been there before to guide you through the process is a simple step that will give you a huge advantage when you’re ready to sell your house. Let’s make it happen together.

July 16, 2020

Thinking of Selling Your House? Now May be the Right Time

Thinking of Selling Your House? Now May be the Right Time | MyKCM

Inventory is arguably the biggest challenge for buyers in today’s housing market. There are simply more buyers actively looking for homes to purchase than there are sellers selling them, so the scale is tipped in favour of the sellers

Why is inventory so low?

There are many reasons why it’s hard to find a home to buy today, stemming from an undersupply of homes and sellers pressing pause on their moving plans due to the current health pandemic. One of the key factors making it even more challenging, however, is the amount of time current homeowners are staying in their homes. There has truly been a fundamental shift in the market that started about 10 years ago: people are staying put longer, and it’s contributing to the shortage of houses for sale.

As shown in the graph below, historical data indicates that staying in a home for 5-7 years used to be the norm, until the housing bubble burst. Since 2010, that length of time has trended upward, toward 9-10 years, largely due to homeowners aiming to recoup their equity:

Thinking of Selling Your House? Now May be the Right Time | MyKCMThankfully, with the strength the market has gained over the last 10 years, today’s homeowners are in a much better equity position. Now is a fantastic time for homeowners who are ready to make a move to break the 10-year trend and sell their houses, especially while buyer demand is so high and inventory is so low. It’s a prime time to sell.

In addition, with today’s historically low interest rates, there’s an opportunity for sellers to maintain a low monthly payment while getting more house for their money. Think: move-up opportunity, more square footage, or finding the features they’re really looking for rather than doing costly renovations. With more new homes poised to enter the market this year, homeowners ready to make a move may have a golden opportunity to do so right now.

Bottom Line

There are simply not enough houses for sale today. If you’re ready to leverage your equity and sell your house, call The Terry Summerhays Team at 519-802-8770 and let’s connect today for a free consultation. It’s a great time to move while demand for homes to buy is extremely high.

July 9, 2020

Buyers: Are You Ready for a Bidding War?

Buyers: Are You Ready for a Bidding War? | MyKCM

With businesses reopening throughout the country and some experts indicating early signs of a much-anticipated economic recovery, more homebuyers are actively entering the housing market this summer. Today, housing is truly driving the economy forward. With so many buyers looking for homes to purchase and so few houses for sale right now, there’s a disconnect between supply and demand. This imbalance is pushing home prices upward while driving more bidding wars and multiple-offer scenarios.

With more people returning to work we’ll continue to see the number of interested buyers increase. So, if you’re among the many people looking for a home to buy this summer, it’s important to ensure you have the right guidance from the start. This way, you make sure your offer stands out from the crowd when it really counts. Here are two tips to follow.

1. Hire a Trusted Local Expert

A trusted local real estate professional matters more than ever right now, as noted in a recent survey. In fact, according to respondents, 54% of buyers and 62% of sellers indicated that “Particularly during the pandemic, a real estate agent’s guidance is especially valued.”

We’re not in a normal market. We are in one of the greatest health crises we have ever seen. The pandemic has had a dramatic impact on the journey consumers must take to purchase a home. To successfully navigate the landscape today, you need a true expert on your side.

2. Get Pre-Approved for a Mortgage

When there are more buyers than sellers on the market, the process to find a home becomes much more challenging. One way to show you’re serious about buying a home is to work with a lender to get pre-approved for a mortgage before starting your search. With a pre-approval letter, sellers will see your true desire to buy this year, potentially helping your offer rise to the top.

Bottom Line

If this is the year you’re ready to buy, let’s connect to get the process started so you can make sure your offer is a strong one when the competition heats up. 

July 3, 2020

Brantford Real Estate Update for July 2020

 

Hi Everyone,

***PLEASE WATCH THE VIDEO ABOVE*** Here is your Brantford Real Estate Update for July 2020 with the statistics from last month for the detached residential 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 June 2020 was $526,264, which is up by 17.92% or $79,970 higher compared to the average sale price of $446,294 for June 2019. The sales-to-new listings ratio in June was 86.08%, which means that almost 9 homes in Brantford were sold for every 10 homes that were listed, indicating a very strong Seller's market last month.

North End

The average sale price in Brantford’s North End neighbourhoods in June 2020 was $546,380, which is up 11.49% or $56,315 compared to the average sale price of $490,065 for June 2019. The sales-to-new listings ratio in the North End areas last month was 110.81%, which means that 11 homes were sold in the North End neighbourhoods for every 10 new listings in the North End that came on the market, indicating an extremely hot Seller's market in the North End areas.

West Brant

The average sale price in the West Brant area in June  2020 was $583,968, which is up by 19.25% or $78,098 compared to the average sale price of $489,716 for June 2019. The sales-to-new listings ratio in West Brant for the month of June was 68.89%, which means that almost 7 homes in West Brant were sold for every 10 homes that came on the market, indicating a Seller's market in the West Brant areas.

Terry's Take on the Brantford Real Estate Market

The real estate market in Brantford has been very strong with the demand for the houses for sale in Brantford outpacing the supply of homes that are available for sale, especially in certain neighbourhoods and price ranges. Despite having almost 1/2 as many homes on the market last month versus a year ago, there were almost as many sales in June 2020 as there were in June 2019, and the average sale price has gone up 17.92% compared to a year ago. 

If you live in Brantford or Brant County and you are planning on making a move this year, give us a call or text and we can go over your best options for making a move in this market. You can Call or Text The Terry Summerhays Team at 519-802-8770.

To learn more about how Terry Summerhays is able to consistently sell his listings for more money year-after-year check out our proven and aggressive Summerhays Selling System so you can sell your Brantford home faster, easier, and put more money in your pocket!

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 25, 2020

Three Reasons Homebuyers Are Ready to Purchase This Year

Three Reasons Homebuyers Are Ready to Purchase This Year | MyKCM

A recent survey by Lending Tree tapped into behaviours of over 1,000 prospective buyers. The results indicated 53% of all homebuyers are more likely to buy a home in the next year, even amid the current health crisis. The survey further revealed why, naming several reasons buyers are more likely to move this year (see graph below):Three Reasons Homebuyers Are Ready to Purchase This Year | MyKCMLet’s break down why these are a few of the key factors motivating buyers to actively engage in the home search process, and the corresponding wins for sellers as well.

1. Low Mortgage Rates

The biggest reason potential homebuyers indicated they’re eager to purchase this year is due to current mortgage rates, which are hovering near all-time lows. Today’s low rates are making it more affordable than ever to buy a home, which is a huge incentive for purchasers. In fact, 67% of respondents in the Lending Tree survey want to take advantage of low mortgage rates. 

2. Reduced Spending

Some people have also been able to save a little extra money over the past few months while sheltering in place. One of the upsides of staying home recently is that many have been able to work remotely and minimize extra spending on things like commuting expenses, social events, and more. For those who fall into this category, they may have a bit more saved up for down payments and closing costs, making purchasing a home more feasible today.

3. Re-Evaluating Their Space

Spending time at home has also given buyers a chance to really evaluate their living space, whether renting or as a current homeowner. With time available to craft a wish list of what they really need in their next home, from more square footage to a more spacious neighbourhood, they’re ready to make it happen.

What does this mean for buyers and sellers?

With these three factors in play, the demand for housing will keep growing this year, especially over the summer as more communities continue their phased approach to reopening. Buyers can take advantage of additional savings and low mortgage rates. And if you’re thinking of selling, know that your home may be in high demand as buyer interest grows and the number of homes for sale continues to dwindle. This may be your moment to list your house and make a move into a new space as well.

Bottom Line

If you’re ready to buy or sell – or maybe both – call The Terry Summerhays Team today at 519-802-8770 so we can talk about your next steps and help you put a plan in motion.

June 17, 2020

Think You Should For Sale By Owner? Think Again

 

Think You Should For Sale By Owner? Think Again [INFOGRAPHIC] | MyKCM

Some Highlights 

  • For Sale By Owner (FSBO) is the process of selling real estate without the representation of a real estate broker or real estate agent.
  • According to the National Association of Realtors’ Profile of Home Buyers & Sellers, 35% of homeowners who decided to FSBO last year did so to avoid paying a commission or fee. But, homes sold with an agent net 6% more than those sold as a FSBO according to Collateral Analytics.
  • Before you decide to take on the challenge of selling your house on your own, let’s connect to discuss your options so you can make an informed decision. 
June 11, 2020

Are You Ready for the Summer Housing Market?

Are You Ready for the Summer Housing Market? | MyKCM

As the health crisis started making its way throughout our country earlier this spring, sellers have been cautious about putting their homes on the market. This hesitation stemmed primarily from fear of the spread of the coronavirus, and understandably so. This abundant caution has greatly impacted the number of homes for sale and slowed the pace of a typically busy spring real estate season.

With many provinces beginning a phased approach to  reopening, virtual best practices and health and safety guidelines for the industry are in place to increase the comfort level of buyers and sellers. What we see today, though, is that sellers are still making a very calculated return to the market.

Although we’re starting to inch our way toward more homes for sale throughout the country, the number of homes on the market is still well below the demand from buyers.

What we can see today is that homebuyers are more confident than the sellers, and they’re ready to make up for lost time from the traditional spring market. Summer is gearing up to be the 2020 buying season, so including your house in the mix may be your best opportunity to sell yet. Interest in your house may be higher than you think with so few sellers on the market today.

Bottom Line

If you’re ready to sell your house this summer, let’s connect today to talk about your best options for making a move in this market.

June 3, 2020

Brantford Real Estate Update: June 2020

 

Hi Everyone,

***WATCH THE VIDEO ABOVE*** Here is your Brantford Real Estate Update for June 2020 with the statistics from last month for the detached residential 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 May 2020 was $461,232, which is up by 7.14% or $30,747 higher compared to the average sale price of $430,485 for May 2019. There were 47.69% fewer new listings and 20.93% fewer sales compared to last year but since the new listings in Brantford are down more than the sales we are experiencing a strong market. The sales-to-new listings ratio for the month of May  was 90.27%, which means that 9 homes in Brantford 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. 

North End

The average sale price in Brantford’s North End neighbourhoods in May 2020 was $505,405 which is up 2.66% or $13,102 compared to the average sale price of $492,303 for May 2019. The sales-to-new listings ratio in the North End areas last month was 78.57%, which means that almost 8 homes were sold in the North End neighbourhoods for every 10 new listings in the North End that came on the market, indicating a strong Seller's market.

West Brant

The average sale price in the West Brant area in May 2020 was $557,772, which is up by 16.28% or $78,098 compared to the average sale price of $479,674 for May 2019. The sales-to-new listings ratio in West Brant for the month of May was 50.00%, which means that 5 homes for sale in West Brant were sold for every 10 homes that were listed during the month, indicating a balanced market in the West Brant area.

Terry's Take on the Brantford Real Estate Market

As to be expected with COVID-19, both the # of new listings and the # of home sales in Brantford are down compared to last year. However, the houses for sale in Brantford are still selling, and since the # of new listings have dropped more than the # of sales, right now we are experiencing a strong Seller's market in Brantford, especially in certain price ranges and neighbourhoods. The average sale price for a detached residential home in Brantford is up 7.14% compared to a year ago. Also, as the weather has been improving there seems to be more people jumping back into the market with 29.41% of the sales for last month happening in the last week of May.

If you live in Brantford or Brant County and you are planning on making a move this year, give us a call or text and we can go over your best options for making a move in this market. You can Call or Text The Terry Summerhays Team at 519-802-8770.

To learn how Terry Summerhays sells his listings for more money, check out our proven and aggressive Summerhays Selling System so you can sell your Brantford home faster, easier, and for more money!

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