Greater Toronto REALTORS® reported 8,442 sales through the Multiple Listing Service® (MLS®) in June. This represented a 23 % decrease compared to the record 10,955 sales reported in June 2009. Sales for the second quarter of 2010 amounted to 28,810 – up 1% annually. Year-to-date sales through June were up 23% to 50,455 compared to the first six months of 2009.
We experienced a record number of existing home sales during the first half of 2010, but these sales were weighted more towards the beginning of the year. The pace of home sales has moderated from record levels over the past two months with the prospect of higher mortgage rates.
The average price for June transactions was $435,034 – up 8% compared to the average of $403,972 recorded for June 2009.
With more homes to choose from in the second quarter, many home buyers have been making less-aggressive offers. This has resulted in less upward pressure on the average selling price. The annual rate of average price growth in the second half of 2010 will be in the single digits.
Median Price In June, the median price was $367,750, from the $345,000 recorded during June of 2009.
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Understanding the Offer to Purchase Form is essential once your house hunting expedition is a success! You have found the perfect home, one that satisfies your needs, most of your wants- and best of all, fits your pocketbook. Now comes one of the most important phases of your home-buying experience: making an offer to purchase the home.
If you are buying a home, then, before you decide on whether this home is your dream home, the following checklist will help you look at prospective homes with a critical eye. We suggest printing this page and putting it on a clipboard. When you find a home that really interests you, mark the features you see and note their general condition on this list.
Home value sometimes referred to as "Value in Use", is best described as the probable price at which a home trades in a free, competitive, and open market and is synonymous with the market value.
The Income Tax Act does not specifically set out whether or not a gain or loss is capital in nature. The taxpayer is responsible for reporting the gain as income or capital gain. This report may then be challenged by the Canada Customs and Revenue Agency with the onus of proof on the taxpayer.
When should I sell my home? Your answer to this question might be right now! If you have taken a job in another city or made an offer on a new home, or had an addition to your family, selling your home fast might be the most important goal you have. Most people, however, have some flexibility when they sell their home. Let us take a closer look at the most important factors that can go into this decision.
A very accurate saying is that "Any home will sell once you get the price right." Of course, this is usually said from the perspective of dropping a price until it's too attractive to pass up. Actually, the accurate pricing of your home prior to listing is as much an art as it is a science.
You may have lived in your home for many years. The location factors that you considered when making your purchase decision may not apply to today’s buyers. The task is to identify the current positive aspects of your home’s location and market them aggressively. When it comes to positive locations, people’s different attitudes and preferences will determine if a location is a “good” one.
Marketing a home for sale is quite different from most other types of marketing and advertising. Unlike marketing many products, homes are each unique. Marketing decisions will be based on thorough examination of the home’s features and comparison to the competition in the marketplace. Decisions must also be made concerning improvements that might enhance the home and sell it faster and for a higher price.
Whether buying or selling a home, one activity will be part of the process in all cases and for all involved. Let’s look at the offer to purchase contract and negotiation process from both sides
