Prices Continue to Rise for All Home Types

Information courtesy of the Toronto Real Estate Board.

TREB

SAleS & AveRAge PRiCe By MAjoR HoMe TyPe

MAR. 2013 SAlES AvERAgE PRIcE416 905 Total 416 905 Total

Detached 975 2,794 3,769 $846,828 $592,265 $658,118

Yr./Yr. % change -21.6% -16.4% -17.8% 2.8% 5.4% 4.0%

Semi-Detached 314 573 887 $607,334 $403,031 $475,355

Yr./Yr. % change -15.1% -14.0% -14.4% 6.9% 3.1% 4.6%

Townhouse 300 884 1,184 $450,104 $369,590 $389,990

Yr./Yr. % change -18.5% -13.5% -14.8% 7.5% 4.2% 5.0%

condo Apartment 1,266 505 1,771 $367,595 $278,984 $342,327

Yr./Yr. % change -18.7% -17.8% -18.4% 2.0% 1.3% 1.7%

TREB President Ann Hannah noted that despite the rising prices, “There are many willing buyers in the marketplace today. While some households have put their decision to purchase on hold as a result of stricter lending guidelines or the additional land Transfer Tax in the city of Toronto, other households simply haven’t been able to find the right house due to a shortage of listings in some market segments.”

Properties in some Toronto neighborhoods, especially ones close to the core and to public transit, are experiencing bidding wars due to lack of inventory, while others are charting a downturn in sales. Different home types are also seeing different sales patterns, depending on if the property is a detached or semi-detached house, a townhouse or a condominium. Regardless of the structure, however, all average prices continue to show an increase in 2013 over the same period in 2012.

Although the number of sales was down by 14 percent compared to the first quarter of 2012, spring 2013 sprung yet another month of rising home prices in the city of Toronto, with the average selling price in March rising to $519,879 – a 3.8 percent home price increase in March 2013 over March 2012.

Whether you’re considering buying or selling in the Toronto market this year, remember that your one-stop information source about all things real estate is just a phone call away. Please call anytime with your real estate questions!

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Recine Team ReportCompliments of Melanie & Fabio RE/MAX Premier Inc., Brokerage

Each office is independently owned and operated.

Melanie Maranda Recine &Fabio Recine

Sales Representatives

"It's your callCall Melanie and Fabio"

RE/MAX Premier Inc., Brokerage9100 Jane Street, Bldg. L, Suite #77Vaughan, ON L4K 0A4

Office: 416-987-8000Fax: 416-987-8001Direct Melanie: 647-836-4062Direct Fabio: 416-828-5441mmaranda96@hotmail.comfrecine@trebnet.comwww.RecineTeam.ca

Greetings! You’re receiving thisnewsletter with hopes that you find itinformative and entertaining.

If you’re thinking of making a move, orare just curious as to real estate trendsin your area, please feel free to call atany time. It’s always good to hearfrom you!

Best wishes,

Melanie and Fabio

Volume 9, Issue 5

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Choose your paint wisely. Cheap paints use inferior pigments and binders, meaning their hiding capabilities are lesser, they fade and wear faster, don’t adhere as well, and are more difficult to apply, which means working harder and having to paint more often. If that matters to you, buy the best paint you can afford.

Use quality tools appropriate for the job. Good rollers have metal cages, plastic (not cardboard) cover cores, and dense fibers. Good paintbrushes have tightly packed bristles of varying lengths that are split at the ends. For oil-based paints, use rollers and brushes with natural covers and bristles; for latex paint, opt for synthetics.

If you can‘t remove furniture entirely, gather it in the middle of the room, and cover it and the floor with drop cloths. Fabric cloths are preferable to plastic ones, which are slippery underfoot (human or ladder) and stay wet when spilled on. Whatever type of cloth you use, tape it down.

Remove hardware: switch and outlet plates, doorknobs, light fixtures, hinges, handles, etc. Professionals may be able to paint around such items, but you probably don’t want to take the risk. Keep screws and such with the items they belong to and label things as needed to avoid confusion when it’s time to put them back.

Smooth walls are critical, so surface preparation is important. Remove loose, peeling, or flaking paint; repair popped nails; and patch up cracks and holes. If you’re painting over a glossy surface, light sanding will be necessary so that the paint can better adhere to the wall. Allow patched areas to dry completely before painting.

Make sure walls are clean. They might not look dirty, but chalk, dust, hair, oil, and even cobwebs may be clinging to them, which can make it harder for paint to adhere and even show through the finished job. Use a sponge to wash walls with a mixture of water and mild detergent, rinse with plain water, and let them dry completely.

Mask the room. Tempting as it may be to skip it, masking will likely save you even more work later. Choose the right painter’s tape for the job – not all tapes can be used on or cleanly removed from every surface. Overlap sections by a couple of inches and make sure there are no bubbles or folds that could allow paint to seep in.

Don’t skip the primer, particularly if you’re painting a lighter shade over a darker one, if the walls are stained (use a primer designed for stain blocking), or if you’re painting walls that have been repaired (in fact, if you prime nothing else, spot prime areas you’ve patched or they’ll appear as shiny spots when you’re done).

A fresh coat of paint is the cheapest way to give your home a new look and improve its resale value – especially if you do the work yourself. To make the job easier, be happier with the results, and avoid accidents along the way, follow these tips.

PAinTing PoinTers

Emotional QuotiEntKnow thE aREa

Volume 9, issue 5 3

while it’s impossible to know everything about an area before moving in, there are some things you can and definitely do want to learn about before you buy. here are five important criteria to investigate.

Amenities. Whether your preferences lean more towards parks and playgrounds or clubs and culture, you’ll want to know whether your prospective community has the amenities you want, and, more importantly, those you need (e.g. public transit, health-care facilities).

Tone. You may have visited prospective homes and/or areas on sunny Sunday afternoons, but be sure to return at various times of the day and week to see if/how the area’s tone changes. For example, how does it look during rush hour or sound on Saturday nights?

Schools. Even those who don’t have children and intend to remain childfree should be concerned about the presence of quality schools. Why? Resale value: good schools mean persistent demand, and, as a result, faster sales at higher prices for properties near them.

Crime rates. Obviously there’s no guarantee you’ll never be a victim of crime in any neighborhood you move to, but you can find out, via resources like websites and local police departments, the amount – and nature – of crime in any area you’re considering buying in.

Economic factors. Are property values falling, rising, or stable? Is the local job base growing or shrinking? Do local residences look like they’ve been well maintained? Are there many “For Sale” signs on homes? Have a lot of local businesses closed their doors for good?

Where should your investigation begin? With a call to your local real estate representative – there’s no one who knows the area better!

Overpricing. The number one reason why otherwise good homes don’t sell (quickly or at all), overpricing is often the result of sellers factoring in sentimental value in addition to fair market value when establishing their asking price, or an ego-driven desire to “beat” the neighbors, who sold their home last month, by fetching more money for your home than they did.

Rejecting advice. Some sellers take offense to and reject their real estate rep’s advice about making certain changes to their home’s décor, receiving it as criticism of their personal taste. Rest assured, it’s in no way meant as such; rather, these suggestions are intended only to broaden your home’s appeal to more buyers so that it sells faster and for more money.

Rejecting offers. Just as some sellers take offense to their rep’s suggestions, some take offense to offers they feel are too low, and reject them outright in response to the perceived insult. But rejecting offers won’t get you any closer to your goal of making a sale – but keeping negotiations open by crafting a counter offer with your real estate sales representative’s help will.

Being at home during showings. Some sellers are reluctant to vacate their homes while showings are taking place, which is perfectly understandable: it’s difficult to surrender control and have strangers roam through your home in your absence. But your presence can hinder buyers and make them feel rushed and uncomfortable – just what you don’t want when trying to sell.

when selling a home, clear minds and cool hearts would ideally always prevail, but it’s not uncommon for emotions to get the better of home sellers. Below are four emotional mistakes sellers should avoid making.

A security alarm can tell you when someone has broken into your house, but your landscaping can help deter would-be criminals from entering your house in the first place. Here’s how to achieve better security through landscaping.

First, keep your yard well maintained (e.g. mow and rake regularly, maintain edging, remove weeds and debris, keep garden beds well defined and freshly mulched). An unkempt yard will signal to criminals that the house is unoccupied – even if it’s not – and thus assume itself an easy target.

Make sure your trees, shrubs, and hedges are neatly trimmed so that your doors and windows are clearly visible to your neighbors, and criminals have fewer places to hide on your property. Trim any tree limbs that could be used to gain access to upper-floor windows or your roof.

Below ground-floor windows, consider spreading gravel and/or planting hostile vegetation. The gravel makes footsteps easier to hear, while thorny, prickly plantings (e.g. cacti, rose bushes) makes these areas less hospitable to criminals. Your local nursery can suggest hostile plantings suitable for your climate.

Make sure your landscaping design includes lighting. Keep in mind that solar lighting doesn’t put out much light, so while they’re great for ambiance, for security purposes, you’d be better off using motion detecting lights to illuminate areas like your front door, garage, shed, and backyard.

When you’re finished with your yard maintenance tasks, be sure to put all of your tools and equipment securely away. You don’t want to lend criminals a helping hand by leaving out items – such as ladders, axes, drills, and hammers – that they could use to break into your house.

Safety Scaping

Terminology TipEquity — Equity is the dollar amount that

a homeowner has paid towards the cost

of a property. It’s the difference between

what the property is worth and what the

homeowner owes against that property (or

the difference between the property value and

the remaining loan amount on the property).

Equity increases as the mortgage is paid

down or as the property appreciates in value.

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The information and opinions contained in this newsletter are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This newsletter is provided with the understanding that it does not render legal, accounting, or other professional advice. Not intended to solicit properties or businesses listed for sale and agency agreements in place with other real estate brokers. Whole or partial reproduction of this newsletter is forbidden without the written permission of the publisher. © Market Connections Inc.® 2013, Phone: (800) 387-6058.

www.RecineTeam.caMelanie Direct647-836-4062

Fabio Direct416-828-5441

Fabio and Melanie RecineSales Representatives

Compliments of Fabio & Melanie Recine RE/MAX Premier Inc., Brokerage