milton real estate
TRANSCRIPT
Market Overview
• Third Quarter 2013 562 homes sold in Milton for a total Dollar volume of $265,746,694
• Avg Price $472,859
• New Listings – 854
• Active Listings – 342
• Avg Sale Price/ List Price Ratio 98%
• Avg Days on Market (DOM) - 24
Market Overview
158 Homes sold in MILTONOCTOBER 2013
Min Price Max Price DOM BR WR Sale/List
Detached - 78 $ 412,000 $ 1,270,000 26 4 3 98%
Semi-Detached 22 $ 359,000 $ 520,000 13 3 3 99%
Link - 6 $ 385,000 $ 650,000 30 3 3 98%
Townhome - 51 $ 312,000 $ 470,000 18 3 3 99%
Vacant Land - 1 $ 600,000 $ 600,000 19 - - 88%
GETTING READY TO SELL
• Motivation • Associated Costs• Selling Process• What can a Realtor do for you!• Receiving Offers • Acceptance of Offer• At Closing - Moving
GETTING READY TO SELL
• MOTIVATIONWhy are you selling?
• Reasons Graduating to a new life stage Job ChangeMove to a more desirable areaFinancial
– Time Line
GETTING READY TO SELL
• ASSOCIATED COSTS
PRE-SALE• Preparing your House for sale
• Renovations
• Home improvements
• Home Staging
GETTING READY TO SELL
• COSTS ON CLOSING DAY• Real Estate Agent’s commissions
– What does this cover?
– Usually in the 5% range
• Legal Fees and disbursements – $1000 to $1500
• Utility and property tax adjustments
• Mortgage Prepayment and
• Discharge Fee
GETTING READY TO SELL
• SELLING PROCESS
• Getting your House Ready – De-clutter, Paint Job, Small Renos
• Home Staging– A well presented home will attract more buyers & a higher sale price
– Proven to decrease the time the property remains listed
– Statistics of RESA (Real Estate Staging Association) and Statscan show staged homes are sold for 5 to 17% higher & in 78% less time than their non-staged counterparts
GETTING READY TO SELL
• WHY STAGEVacant Property staged Sold $10,000 over asking, 2 weeks after staging
Occupied Property staged Sold in 4 days at 100
% of asking price
SELECTING A REALTOR
• Interview two or three realtors before settling on any one
• Marketing Plan
• Service Pledge
• After Sales Service
PRICING YOUR PROPERTY
• Importance of determining your property’s asking price
• Benefits of Pricing Right– Property sells faster as it is exposed to more qualified
buyers
– Your home doesn’t lose its “marketability”
– The closer to market value, the higher and more offers received
– A well-priced property can generate competing offers
PRICING YOUR PROPERTY
IMPORTANCE OF EARLY ACTIVITY• As soon as a home comes on the market, there is a flurry of
activity surrounding it. • Overpriced homes, loose potential buyers fast.• By the time the price drops, a majority of buyers are lost.
PRICING YOUR PROPERTY
COMPARATIVE MARKET ANALYSIS
• Determining the offer price– Comparable houses sold in past year
– Comparable houses expired in past year
– Comparable houses currently listed
• Comparable properties chosen based on – Type of Subject property – townhome, semi-detached,
detached, Sq footage– No. of Bedroom, Bathrooms and other features– Location – proximity to subject property
A STRONG MARKETING PLAN
• Proper Pricing
• Proper Exposure– Yard Sign, MLS, Open Houses, Ad in newspaper, – Exceptional Internet Marketing and buyer capture
strategy– Local and National Team marketing strategy– Showcase 21/virtual tour– Property home page– Property domain– Google directional campaign (Ad words)– Quality marketing material– Daily online traffic monitoring
RECEIVING OFFERS
• Understanding Conditions and Clauses
• Negotiating favourable conditions and price
• Offer Conditions – English version of contract available
• Multiple Offers
ACCEPTANCE OF OFFER
Deposit received and held with your Brokerage
Conditions cleared or waived such asHome Inspection / New Home WarrantyFinancing Approval
Legal Paperwork
AT CLOSING AND MOVING
Payments of closing costs, commission, legal, etc.
Plan ahead – arrange for movers
Line up utilities & other services like phone, cable & internet
Forward mail to new address
Closing Day – Legal possession of home, any balance on adjustments is paid out
All chattels included in contract are present