Guelph Real Estate News from MICHELLE IVY November 2018   

 
When selling your home, it's important that everything be in tip-top shape. This month's article highlights some fairly common repairs that will help you sell your home fast and for top dollar!

There are also a few tips on how to prevent an invasion of rodents this winter as well as some reminders on foods you should never feed your dog.

Thanks so much for checking out this month's newsletter. Please get in touch if you have any questions or comments regarding the articles, or real estate in general -- it'd be great to hear from you!

Cheers,
Michelle

In this issue...
Guelph Real Estate Market Update 
Guelph area home sales fall back in October.

According to statistics provided by the MLS® System of the Guelph and District Association of REALTORS®, home sales numbered 230 units in October 2018. This was a decrease of 16.4% from October 2017.

On a year-to-date basis, home sales totalled 2,533 units over the first 10 months of the year. This was a decrease of 13.9% from the same period in 2017.

“Home sales fell back in October, reversing the trend of steady improvement we’d been seeing since June,” said Kristi Mercier, President of the Guelph and District Association of REALTORS®.

“That said, one month does not make for a new trend so we’ll be watching to see if activity picks back up as we get closer to the end of the year. In contrast to October’s sales slowdown, price growth has been picking up in recent months.”

The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price for Guelph and District was $526,300, up 9.3% in October 2018 compared to October 2017. This was the largest year-over-year increase since January.

The benchmark price for single-family homes was $542,600, up 9.4% on a year-over-year basis in October. By comparison, the benchmark price for townhouse/row units was $377,500, up 7.3% compared to a year earlier while the benchmark apartment price was $330,900, rising 11.8%.

The average price of homes sold in October 2018 was $515,327, down 0.3% from October 2017. The more comprehensive year-to-date average price was $529,481, also down 0.3% on a year-over-year basis. The dollar value of all residential home sales in October 2018 was $118.5 million, decreasing by 16.7% from the same month in 2017.

There were 338 new residential listings in October 2018, down 3.4% (12 listings) on a year-over-year basis. Overall supply levels have moved up remain historically subdued. Active residential listings numbered 489 units at the end of October, up 3.6% from the end of October 2017.

Months of inventory numbered 2.1 at the end of October 2018, up from the 1.7 months recorded at the end of October 2017 and below the long-run average of 4.7 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Sales of all property types in the Guelph region numbered 243 units in October 2018, a decrease of 15.6% from October 2017. The total value of all properties sold was $126.1 million, down by 17.7% from October 2017.

Reaping Returns on Repairs 
Completing basic repairs before selling your home pays off.

If you plan on selling your home in the near future, you'll want to tackle any necessary repairs ahead of time as buyers will be completely turned off if your home appears to have been neglected.

Buyers also factor fix-up jobs into the purchase price, often overestimating the costs involved, so it's best to just take care of them yourself. Here are a few repairs to consider:

  1. Grimy Grout - Dirty grout is a real turn off as it looks like mold so apply new caulking to freshen up the entire area.

  2. Flooring Fixes - Flooring can totally transform the look of your home so replace any cracked floor tiles or torn carpeting and refinish scratched hardwood.


  3. Rough Roof - If your roof needs replacing, it's better to do it before you sell as buyers get so turned off by the cost and hassle that it could be a potential deal breaker.


  4. Fresh Paint - Fill in all holes and cracks in the walls before painting. Make sure to repair and paint your baseboards so they don't look beaten up compared to your fresh walls.

  5. Curb Appeal - Your home needs to make a perfect first impression so patch cracks in the driveway, caulk windows, spruce up your porch and invest in some landscaping.

  6. Dripping Faucets - A dripping tap can signal expensive plumbing repairs to buyers. It'll probably only need a new rubber washer that costs less than a dollar so get it fixed!

  7. The Kitchen is Key - Kitchens are critical and can make or break a sale. Repainting cabinets, adding new hardware or upgrading your countertop are all worthwhile investments.

Buying a home is an emotional experience so it's critical to create an incredible first impression that will make buyers want to own your home the moment they set eyes on it! Although it may initially seem like a hassle to repair a home you'll be moving out of, it'll be well worth the time and money in the end.

Move Over Mice 
'Tis the season for mice who are looking for cozy winter homes!

Rather than dealing with mice who’ve already made themselves at home, try and prevent them from entering in the first place! Here are a few ways to refuse access:

  1. Fallen Fruit - Pick up any fruit that has fallen from the trees in your yard.


  2. Put a Lid On It - Store any food items including pet food and birdseed in rodent-proof containers.


  3. Tight Squeeze - Mice can fit through a hole the size of a pencil so fill any gaps around your foundation and soffits.


  4. Inside Job - Don’t forget to seal holes from the inside of your home and around any openings in your garage or shed.


  5. Controlling Climbers - Mice are great climbers and will try and access your roof by using vines, shrubs and overhanging branches. Cut these back so they're not able to get a leg up on entry points!


One or two mice can quickly turn into a full-scale invasion and once you have them, they’re very hard to get rid of. There’s nothing that’ll keep you up more at night than the sound of mice scurrying around inside your walls so take steps now before it’s too late.

Foods NOT for Fido 
We all share scraps with our pup but certain foods can be toxic.

The holiday season is almost upon us which means lots of delicious food! If your pup hides out under the table looking for scraps, it’s important to know what food you can share and what could be poisonous.

There are plenty of festive foods that Fido shouldn't be indulging in such as fat trimmings & bones, chocolate, salty snacks and sugary foods as they can cause serious issues or even death.

There are also many lesser-known foods that are harmful to dogs such as avocados, chives, leeks, garlic, dairy products, macadamia nuts, cooked bones, yeast dough, the sweetener xylitol, corn on the cob, persimmons, peaches, plums and grapes; to name just a few.

The holiday season is a time for sharing amazing meals with loved ones but not everything should be shared with the dog. Aside from fattening up Fido, certain foods can cause serious damage. If you’re ever in doubt, you can always look it up online.



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