Brantford Real Estate and Community News

Nov. 5, 2019

Brantford Real Estate Update for October 2019

Hi Everyone,

Here is your Brantford Real Estate Market Report for the month of October 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 October 2019 was $441,247, which is up 7.60% compared to the average sale price of $410,072 for October 2018. There were 171 new listings of detached homes and 120 sales in the month, which gives us a sales-to-new listings ratio of 70.18% for the month of October. That means that 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 sales were also up 10.09% in October 2019 compared to October 2018.

North End

The average sale price in Brantford’s North End neighbourhoods in October 2019 was $487,038, which is up 8.70% compared to the average sale price of $448,071 for October 2018. There were 67 new listings of detached homes and 45 sales in the month of October, which gives us a sales-to-new listings ratio of 67.16% for the month. That means that almost 7 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 sales in the North End areas were also up 45.16% in October 2019 compared to October 2018.

West Brant

The average sale price in the West Brant area in October 2019 was $471,829, which is down 3.12% compared to the average sale price of $487,033 for October 2018. There were 33 new listings of detached homes and 24 sales in the month of October, which gives us a sales-to-new listings ratio of 72.73% for the month. That means that almost 7 homes were sold for every 10 homes that were listed in the month, indicating a Seller's market in the West Brant neighbourhoods last month. The number of sales were up 50% in the West Brant area for October 2019 compared to October 2018.

Terry's Take on the Brantford Real Estate Market

The real estate market has been strong in Brantford with more homes selling last month than there were new listings coming on the market. It's a perfect scenario right now for those of you who are thinking about trading up to a larger home because you can sell in the lower price points where there are lots of Buyers competing for your home, but then you can buy in the higher price points where there is not as much competition. Perhaps it's time for you to move up to the home that you've always wanted. 

The Terry Summerhays Team's listings this year have sold with an average sale price that is 3.04% above the asking price, and averaged a 4.24% higher sale price than the Brantford Regional Real Estate Association's average sale price in 2019. Simply put, We Sell Homes for More Money!! When you're thinking about selling your Brantford home, how much would an extra 4.24% 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.

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

Nov. 4, 2019

5 Reasons to Sell This Fall

 

5 Reasons to Sell This Fall | MyKCM

Below are 5 compelling reasons listing your home for sale this fall makes sense.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains 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.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory is still under the 6-month supply that is needed for a normal market. This means that there are not enough homes for sale to satisfy the number of buyers.

Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has hovered between nine and ten years. There is a pent-up desire for many homeowners to move. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

Many homeowners were reluctant to list their homes over the last couple years, for fear that they would not find a home to move to. That is all changing now as more homes come to market at the higher end and it's a perfect scenario for people to trade up to a larger home. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to 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 simpler, as buyers know exactly what they can afford before shopping for a home.

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. There is currently ample inventory for sale at higher price ranges. This means if you’re planning on selling a starter or trade-up home and moving into your dream home, you’ll be able to do that in the luxury or premium market.

According to CoreLogic, prices are projected to appreciate by 5.2% over the next year. If you’re moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage) if you wait.

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

Look at the reasons why you are thinking about moving in the first place and determine whether it is worth waiting. Perhaps the time has come for you and your family to move on and start living the life you desire.

Call Your Local real estate professionals at The Terry Summerhays Team at 519-802-8770 to take advantage of our specialized knowledge and expertise in the Brantford real estate market to guide you through the home selling and/or buying process.

Nov. 1, 2019

4 Reasons to Buy a Home This Fall

 

4 Reasons to Buy a Home This Fall | MyKCM

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

1. Prices Will Continue to Rise

The Canadian Real Estate Association shows that home prices  have appreciated by 5.3% year over 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 Next Year

An increase in rates will impact your monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is needed to buy your next home.

3. Either Way, You Are Paying a Mortgage 

There are some renters who haven’t purchased a home yet because they’re uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you’re living rent-free with your parents, you are paying a mortgage – either yours or that of your landlord.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home 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 costs 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 both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you’re 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 custom renovations, maybe now is the time to buy.

Bottom Line

Buying a home sooner rather than later could lead to substantial savings. Let’s get together to determine if homeownership is the right choice for you and your family this fall. Give us a call at 519-802-8770 for all your real estate needs.

 

Oct. 31, 2019

Taking the Fear Out of the Mortgage Process

 

Taking the Fear Out of the Mortgage Process | MyKCM

A considerable number of potential buyers shy away from the real estate market because they’re uncertain about the buying process – particularly when it comes to qualifying for a mortgage.

For many, the mortgage process can be scary, but it doesn’t have to be! 

In order to qualify in today’s market, you’ll need a down payment (the minimum down payment in Canada is 5%. For down payments of less than 20%, home buyers are required to purchase mortgage default insurance, commonly referred to as CMHC insurance), a stable income, and a good credit history.

Once you’re ready to apply, here are 5 easy steps to follow:

  1. Find out your current credit history and credit score– According to TransUnion, the average credit score in Canada is 650. Even if you don’t have perfect credit, you may already qualify for a loan. 
  2. Start gathering all of your documentation– This includes income verification (such as T-4's or tax returns), credit history, and assets (such as bank statements to verify your savings).
  3. Contact a professional– Your real estate agent will be able to recommend a loan officer who can help you develop a spending plan, as well as help you determine how much home you can afford.
  4. Consult with your lender– He or she will review your income, expenses, and financial goals in order to determine the type and amount of mortgage you qualify for.
  5. Talk to your lender about pre-approval– A pre-approval letter provides an estimate of what you might be able to borrow (provided your financial status doesn’t change) and demonstrates to home sellers that you’re serious about buying.

Bottom Line

Do your research, reach out to professionals, stick to your budget, and be sure you’re ready to take on the financial responsibilities of becoming a homeowner.

Oct. 3, 2019

Brantford Real Estate Market Report for September 2019

Aerial Photography of Gray Houses

Hi Everyone,

Here is your Brantford Real Estate Market Report for the month of September 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 September 2019 was $439,412, which is up 9.30% compared to the average sale price of $402,496 for September 2018. There were 219 new listings of detached homes and 121 sales in the month, which gives us a sales-to-new listings ratio of 55.25% for the month of September. That means that 5 homes were sold for every 10 homes that were listed in the month, indicating a fairly balanced market for the City of Brantford as a whole. The number of sales were also up 35.96% in September 2019 compared to September 2018.

North End

The average sale price in Brantford’s North End neighbourhoods in September 2019 was $469,915, which is up 11.86% compared to the average sale price of $420,092 for September 2018. There were 49 new listings of detached homes and 29 sales in the month of September, which gives us a sales-to-new listings ratio of 59.18% for the month. That means that almost 6 out of every 10 homes listed in the month were sold, indicating a  slight Seller's market in the North End neighbourhoods last month. The number of sales in the North End areas were also up 16% in September 2019 compared to September 2018.

West Brant

The average sale price in the West Brant area in September 2019 was $527,457, which is up 3.92% compared to the average sale price of $507,537 for September 2018. There were 44 new listings of detached homes and 21 sales in the month of September, which gives us a sales-to-new listings ratio of 47.73% for the month. That means that almost 5 homes were sold for every 10 homes that were listed in the month, indicating a balanced market in the West Brant neighbourhoods last month. The number of sales were up 10.53% in the West Brant area for September 2019 compared to September 2018.

Terry's Take on the Brantford Real Estate Market

There were 25.14% more new listings that came on the market in September 2019 compared to September 2018, but the number of sales were also 35.96% higher in September 2019 vs. September 2018. Although the number of sales were up last month the real estate market in Brantford has balanced out a little bit. That being said, the average sale price went up again last month compared to 1 year ago as the demand for the homes for sale in Brantford remains strong, especially in certain neighbourhoods and price ranges. 

The Terry Summerhays Team's listings in 2018 sold with an average sale price that is 3.96% above the asking price, and averaged a 5.76% higher price 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 thinking about selling your Brantford 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.

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

Sept. 5, 2019

Brantford Real Estate Market Report for August 2019

Hi Everyone,

Here is your Brantford Real Estate Market Report for the month of August 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 August 2019 was $441,100, which is up 4.03% compared to the average sale price of $423,995 for August 2018. There were 161 new listings of detached homes and 141 sales in the month, which gives us a sales-to-new listings ratio of 87.58% for the month of August. That means that almost 9 homes were sold for every 10 homes that were listed in the month, indicating a strong Seller's market for the City of Brantford as a whole. The number of sales were also up 24.78% in August 2019 compared to August 2018. If you're curious about your home's new value in this market, Click Here to Contact Us for a Free, No Obligation Market Evaluation of Your Home.

North End

The average sale price in Brantford’s North End neighbourhoods in August 2019 was $481,200, which is up 6.82% compared to the average sale price of $450,465 for August 2018. There were 39 new listings of detached homes and 38 sales in the month of August, which gives us a sales-to-new listings ratio of 97.44% for the month. That means that almost 10 out of every 10 homes listed in the month were sold, indicating a very strong Seller's market in the North End neighbourhoods last month. The number of sales in the North End areas were also up 22.58% in August 2019 compared to August 2018. Click Here to Find 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 August 2019 was $513,890, which is up 10.65% compared to the average sale price of $464,408 for August 2018. There were 33 new listings of detached homes and 26 sales in the month of August, which gives us a sales-to-new listings ratio of 78.79% for the month. That means that almost 8 homes were sold for every 10 homes that were listed in the month, indicating a strong Seller's market in the West Brant neighbourhoods last month. The number of sales were down 16.13% in the West Brant area for August 2019 compared to August 2018.

Terry's Take on the Brantford Real Estate Market

The month of August 2019 saw a 5.85% increase in the number of new listings that came on the market compared to August 2018, but we also experienced an even more significant 24.78% increase in the number of sales in Brantford last month. The statistics show that the Brantford real estate market remains strong with many of the homes that are marketed correctly receiving multiple offers as the demand for the houses in Brantford continue to drive the sale prices up, especially in certain neighbourhoods and price ranges. 

The Terry Summerhays Team's listings in 2018 sold with an average sale price that is 3.96% above the asking price, and averaged a 5.76% higher price 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 thinking about selling your Brantford 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.

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

Sept. 3, 2019

A+ Reasons to Hire a Real Estate Pro

A+ Reasons to Hire a Real Estate Pro [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Hiring a real estate professional to help you buy your dream home or sell your current house is one of the most powerful decisions you can make.
  • A real estate professional has the experience to help you confidently navigate through the entire process.
  • Make sure you work with someone who knows the current market conditions and can simply and effectively explain them to you and your family.
Aug. 29, 2019

Top Priorities When Moving with Kids

Top Priorities When Moving with Kids | MyKCM

When you have school-aged children in your home, buying or selling a house can take on a whole different approach when it comes to finding the right size, location, school district, and more.

Recently, the 2019 Moving with Kids Report from the National Association of Realtors®(NAR) studied “the different purchasing habits as well as seller preferences during the home buying and selling process.” This is what they found:

When Purchasing a Home

The major difference between the homebuyers who have children and those who do not is the importance of the neighbourhood. In fact, 53% said the quality of the school district is an important factor when purchasing a home, and 50% select neighbourhoods by the convenience to the schools.

Buyers with children also purchase larger, detached single-family homes with 4 bedrooms and 2 full bathrooms at approximately 2,110 square feet.

Furthermore, 26% noted how childcare expenses delayed the home-buying process and forced additional compromises: 31% in the size of the home, 24% in the price, and 18% in the distance from work.

When Selling a Home

Of those polled, 23% of buyers with children sold their home “very urgently,” and 46% indicated “somewhat urgently, within a reasonable time frame.” Selling with urgency can pressure sellers to accept offers that are not in their favor. Lawrence Yun, Chief Economist at NAR explains,

“When buying or selling a home, exercising patience is beneficial, but in some cases – such as facing an upcoming school year or the outgrowing of a home – sellers find themselves rushed and forced to accept a less than ideal offer.”

For sellers with children, 21% want a real estate professional to help them sell the home within a specific time frame, 20% at a competitive price, and 19% to market their home to potential buyers.

Bottom Line

Buying or selling a home can be driven by different priorities when you are also raising a family. If you’re a seller with children and looking to make a move, let’s get together to navigate the process in the most reasonable time frame for you and your family. Call Terry today at 519-802-8770 to schedule a free consultation.

 

Aug. 22, 2019

Thank You to All of Our Amazing Family, Friends, and Clients for Helping to Make Hope's Wish Come True!

A huge thank you to all of our awesome family, friends and clients for your continued support and referrals. With a portion of the commission from every home purchased and every home sold this year being donated to our Make A Wish fund, your business and referrals have made our Make A Wish goal a reality! On Tuesday, August 20th at the Leisure Days RV Centre in Ayr, Ontario something special happened. The Terry Summerhays Team and the Make A Wish Foundation Southwestern Ontario granted Hope's wish of having her very own camping trailer so she could go camping with her family. Hope is an amazing 5 year-old girl who is living with Cystic Fibrosis. She likes superheroes, tennis, basketball, and playing board games. We all wish for Hope and her family to enjoy their new camping trailer for many years and to create lasting memories together that they can cherish forever! Thank you again to all of our valued clients, family, and friends for helping us be able to make this happen for this wonderful family.

Aug. 22, 2019

Rent vs Own

Some Highlights:

  • Owning your own home vs. renting may lead to some great options, such as locking in your monthly payments and having the freedom to customize your living space.
  • Whether you rent or own, you have to cover someone’s mortgage costs. You may as well be doing so to build your own wealth, rather than that of your landlord.
  • Renting and owning both have up-front fees when you sign your lease or close, respectively. Think about putting that money to work for you!

Call Terry today at 519-802-8770 and let us help you make home ownership a reality!