Brantford Real Estate and Community News

Jan. 17, 2020

Make A Wish Cheque Presentation

*Note: Melanie Borges is not in the photos because she was not able to make it to the Make A Wish office on that day. 

We want to say "Thank You" to our amazing clients, family, and friends! With a portion of the commission from every home sold and every home purchased with The Terry Summerhays Team going into our Make A Wish fund your business and referrals in 2019 were instrumental in helping us, along with Make A Wish Southwestern Ontario grant a wish for a child who is living with a critical illness. We couldn't have done it without you and your ongoing support! Our goal for 2020 is to be able to grant another wish so let's get to work on granting another wish this year!!

You can check out the post from that special day when Hope's wish was granted here: https://www.brantfordhomesearch.com/blog/hopes-wish-comes-true/

 

 

Jan. 14, 2020

The New Spring Real Estate Market is Here. Are You Ready?

The New Spring Real Estate Market is Here. Are You Ready? | MyKCM

Which month do you think most people who are considering buying a home actually start their search? If you’re like most of us, you probably think the surge happens in the spring, likely in April. Not anymore! According to new research, January 2019 was only 1% behind February for the most monthly views per listing.

So, what does that mean? The busiest season in real estate has just begun.

The same research indicates:

“Historically, April launched the kickoff of the home shopping season as buyers would come out of their winter hibernation looking for their new home. However, the spring shopping season now starts in January for many of the real estate markets.”

With the reality of fewer homes on the market in the winter, and that supply naturally increases as we head to the spring market, waiting for more competition to list in your neighbourhood this year might put you behind the curve. Perhaps now is the time to jump into the market.

George Ratiu, Senior Economist at realtor.com says:

“As shoppers modify their strategies for navigating a housing market that has become more competitive due to rising prices and low inventory, the search for a home is beginning earlier and earlier.”

There is a lot of speculation in the market about why the search for a home is shifting to an earlier start. The one thing we do know is if you’re thinking about buying or selling a home this year, the earlier you get started, the better.

Reminder: When should you sell something? When there is less of that item for sale and the greatest number of buyers are in the market. That’s exactly what is happening in the Brantford real estate market right now.

Bottom Line

The new spring market for real estate is underway. If you’re considering buying or selling a home this year, let’s connect, so you can take advantage of this competitive market. Call The Terry Summerhays Team today at 519-802-8770 and let's discuss your options.

Jan. 11, 2020

There’s a Long Line of Buyers Waiting for Your House

There’s a Long Line of Buyers Waiting for Your House | MyKCM

If you’re following what’s happening in the housing market right now, you know that many people believe the winter months aren’t a good time to sell a home. Senior Economist George Ratiu recently noted:

“Sellers tend to be more reluctant to list during the colder time of year when the market typically makes a seasonal slowdown.”

However, with the low inventory of homes for sale in Brantford, especially in certain neighbourhoods, now is a great time to take advantage of the increased demand because the Buyers are looking and ready to buy but can't find a home right now. A recent report by ShowingTime reveals how Buyer activity is way up compared to the same time last year. The report explains:

“The 12.6% growth in home showings was the most significant jump in buyer traffic during the current four-month streak of year-over-year increases."

Bottom Line

Waiting for the “spring buyers’ market” may be a mistake this year because the purchasers are already out and looking to buy a home. Call The Terry Summerhays Team today at 519-802-8770 to discuss the option of taking advantage of the current market.

Jan. 9, 2020

3 Benefits to Buying Your Dream Home This Year

3 Benefits to Buying Your Dream Home This Year | MyKCM

Outside of a strong economy, low unemployment, and higher wages, there are three more great reasons why you may want to consider buying your dream home this year instead of waiting.

1. Buying a Home is a Great Investment

Several reports indicate that real estate is a good investment, topping other options such as gold, stocks, bonds, and savings. Why? Real estate helps build equity, a form of investing for you and your family. 

The average homeowner of a detached single-family home in Brantford gained approximately $36,015 in equity over the past year with the average sale price of $402,678 in January, 2019 compared to the average sale price of $438,693 in December, 2019. If you want to start building equity and get your own piece of the pie, then put your housing costs to work for you through homeownership this year.

2. Mortgage Interest Rates Are Low

The best 5-year fixed rate in January, 2019 was sitting at 3.69% but as of January, 2020, that rate has dropped to 2.89% This translates into significant savings for a buyer over the term of a mortgage.

When you purchase a home at a lower mortgage rate, it will impact your monthly mortgage payment, giving you the opportunity to buy more house for your money.

3. Investing in Your Family is a Win

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’re paying a mortgage – either yours or that of your landlord.

Today, rental prices continue to increase, and when you’re paying your landlord’s mortgage instead of your own, you’re not the one earning the equity. As an owner, your mortgage payment is a form of ‘forced savings’ you can use later in life to reinvest in your family. You can use it for a variety of opportunities, such as saving for your children’s education, moving up to a bigger home, or starting your own business. As a renter, it can be more challenging to achieve those types of dreams without home equity working for you.

Bottom Line

Buying a home sooner rather than later could lead to substantial savings and long-term financial growth for you and your family. Call The Terry Summerhays Team today at 519-802-8770 and let’s get together to determine if homeownership is the right choice for you this year.

Jan. 2, 2020

Brantford Real Estate Update for January 2020

Hi Everyone and Happy New Year!

Here is your Brantford Real Estate Update with the statistics from the month of December 2019 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 2019 was $437,742, which is up 7.53% compared to the average sale price of $407,077 for December 2018. The sales-to-new listings ratio for the month of December was 126.42%. That means that 12.6 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 selling than there were homes coming on the market. The number of sales were also up 13.56% in December 2019 compared to December 2018.

North End

The average sale price in Brantford’s North End neighbourhoods in December 2019 was $502,850 which is up 17.17% compared to the average sale price of $429,167 for December 2019. The sales-to-new listings ratio in the North End last month was 200%, meaning that there were actually twice as many homes sold in the North End areas than there were homes that came on the market in December 2019. With the depleting inventory in the North End neighbourhoods there is an increased demand for the homes for sale in the North End areas.

West Brant

The average sale price in the West Brant area in December 2019 was $543,246, which is up 15.08% compared to the average sale price of $472,074 for December 2018. The sales-to-new listings ratio in West Brant for the month of December was 80%. That means that there were 8 homes sold for every 10 homes that came on the market in December 2019, indicating a strong Seller's market in the West Brant neighbourhoods last month. 

Terry's Take on the Brantford Real Estate Market

The Brantford real estate market was very strong in December with more homes selling than there were homes coming on the market. The average sale price was up 7.53% for Brantford and was up even higher in the North End(up 17.17%) and West Brant(up 15.08%) areas. The number of sales were also up 13.56% last month compared to December 2018. I know I am repeating myself month after month but once again the demand for the houses for sale in Brantford continues to outpace the supply of homes that are available for sale, especially in certain neighbourhoods and price ranges, which continues to drive the sale prices up. Simply put, there are more Buyers who are looking for a home in Branford than there are homes available for them to buy, so when the Buyers do find a home they like they are willing to pay a higher price to make sure they get it!

The Terry Summerhays Team's listings in 2019 sold with an average sale price that was 3.04% above the asking price, and averaged a sale price that was 4.24% higher 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, put our proven marketing system to work for you! 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 above average 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

Dec. 30, 2019

3 Mistakes to Avoid When Selling a Home in 2020

 

3 Mistakes to Avoid When Selling a Home in 2020 | MyKCM

It’s exciting to put a house on the market and to think about making new memories in new spaces, but we can have deep sentimental attachments to the homes we’re leaving behind. Growing emotions can help or hinder a sale, depending on how we manage them.

When it comes to the bottom line, homeowners need to know what it takes to avoid costly mistakes. Being mindful of these things and prepared for the process can help you avoid some of the most common mishaps when selling your house.

1. Overpricing Your Home

When inventory is low, like it is in the current market, it’s common to think buyers will pay whatever we ask for when we price our homes. Believe it or not, that’s far from the truth. Don’t forget that the buyer’s bank will send an appraisal to determine the fair value for your home. The bank will not lend more than what the house is worth, so be mindful that you might need to renegotiate the price after the appraisal if the buyer does not have a large enough down payment. A real estate professional will help you to set the true value of your home.

2. Letting Your Emotions Interfere with the Sale

Today, most homeowners have been living in their houses for an average of 10 years (as shown in the graph below):3 Mistakes to Avoid When Selling a Home in 2020 | MyKCMThis is several years longer than what used to be the norm. The side effect, however, is when you live for so long in one place, you may get even more emotionally attached to your space. If it’s the first home you bought after you got married or the house where your children grew up, it very likely means something extra special to you. Every room has memories and it’s hard to detach from the sentimental value.

For some homeowners, that makes it even harder to negotiate, separating the emotional value of the home from the fair market price. That’s why you need a real estate professional at The Terry Summerhays Team to help you with the negotiations in the process.

3. Not Staging Your Home

We’re generally quite proud of our décor and how we’ve customized our houses to make them our own personalized homes, but not all buyers will feel the same way about your design. That’s why it’s so important to make sure you stage your home with the buyer in mind. Buyers want to envision themselves in the space, so it truly feels like their own. They need to see themselves in the space with their furniture and keepsakes – not your pictures and decorations. Stage and declutter your home so they can visualize their own dreams as they walk through your house. A real estate professional can help you with tips to get your home ready to go on the market.

Bottom Line

Today’s seller’s market might be your best chance to make a move. If you’re considering selling your house, let’s get together to help you navigate through the process while avoiding common seller mistakes. Call The Terry Summerhays Team at 519-802-8770 today and let's get started!

Dec. 17, 2019

Pancake Breakfast With Santa 2019

 

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

Wishing You the Best in 2020,

Everyone at The Terry Summerhays Team

 

 

 

 

 

 

Dec. 12, 2019

Get Your House Ready To Sell This Winter

 

Get Your House Ready To Sell This Winter | MyKCM

Some Highlights

  • Winter is a great time to list a house, since inventory is traditionally low because most sellers are holding off until spring to put their homes on the market.
  • Waiting for warmer weather when more competition is on the market will only put your house up against more choices for buyers.
  • Get your house ready to sell now with quick and easy fixes that will make a big impact.
Dec. 5, 2019

December 2019: The Buyer Stakes Are High Because Inventory Is Low

 

December 2019: The Buyer Stakes Are High Because Inventory Is Low | MyKCM

The reality of what we’re seeing this month is that homes are selling fast. In today’s strong seller’s market, bidding wars are common and expected with the starter or entry-level homes in Brantford.

First-time buyers have been met with fierce competition throughout their homebuying experience. Some have been out-bid multiple times before finally going under contract on a home to call their own.

Right now, the inventory of homes is a big challenge because the month's supply of inventory is not increasing but the number of homes being sold is increasing.

The graph below shows the year-over-year change in inventory over the last 12 months.December 2019: The Buyer Stakes Are High Because Inventory Is Low | MyKCMAs depicted above, the percentage of available inventory has fallen for four consecutive months when compared to the previous year.

So, what does this mean? If you’re a buyer, be sure to get pre-approved for a mortgage and be ready to make a competitive offer, so you can move quickly. Chances are, homes high on your wish list are going to go fast!

Bottom Line

If you’re thinking of buying a home, make sure you’re taking the right steps at the beginning of the process, so you’re a top contender if you ultimately find yourself in a bidding war. Let’s get together to discuss what you need to do to make your move toward homeownership.

Dec. 3, 2019

Brantford Real Estate Update for November 2019

Hi Everyone,

Here is your Brantford Real Estate Update for the month of November 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 November 2019 was $431,151, which is up 8.20% compared to the average sale price of $398,491 for November 2018. There were 110 new listings of detached homes and 111 sales in the month, which gives us a sales-to-new listings ratio of 100.91% for the month of November. That means that 10 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. The number of sales were also up 37.04% in November 2019 with 111 sales last month compared to 81 sales in November 2018.

North End

The average sale price in Brantford’s North End neighbourhoods in November 2019 was $483,559, which is up 13.43% compared to the average sale price of $426,324 for November 2018. There were 24 new listings of detached homes and 28 sales in the month of November, which gives us a sales-to-new listings ratio of 116.67% for the month. That means that there were actually more homes sold in the North End areas than there were homes that came on the market in November 2019, indicating an extremely strong Seller's market in the North End neighbourhoods last month.

West Brant

The average sale price in the West Brant area in November 2019 was $476,158, which is up 13.35% compared to the average sale price of $420,082 for November 2018. There were 15 new listings of detached homes and 19 sales in the month of November, which gives us a sales-to-new listings ratio of 126.67% for the month. That means that there were almost 13 homes sold for every 10 homes that came on the market in November 2019, indicating a very strong Seller's market in the West Brant neighbourhoods last month. The number of sales were up 72.73% in the West Brant area for November 2019 compared to November 2018.

Terry's Take on the Brantford Real Estate Market

The Brantford real estate market was very strong in November with more homes selling than there were homes coming on the market in many of the neighbourhoods in town. The average sale price was up 8.20% for Brantford and was up even higher in the North End(up 13.43%) and West Brant(up 13.35%) areas, and the number of sales were up a whopping 37.04% last month compared to November 2018. The demand for the houses for sale in Brantford continues to outpace the supply of homes that are available for sale, especially in certain neighbourhoods and price ranges, which is driving the prices up because there are more Buyers looking for a home than there are homes available for them to buy. It's a great time to take advantage of this market to get an excellent price for your home!

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, put our proven marketing system to work for you! 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 above average 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