Barrie Real Estate News from Michael Preston June 2019   

 
The ability to successfully negotiate can be a real game changer! This month’s article discusses some simple negotiating tips that will help you successfully navigate your way through virtually any situation.

There are also some ideas on how to cool down your home without having to turn on the A/C as well as a few tips on how to grill the perfect steak!

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!

Michael

In this issue...
Barrie Real Estate Market Update 
Home sales up compared to same time last year.

Residential property sales recorded through the Matrix™ System in the Barrie & District Association of REALTORS® Inc. (BDAR) region numbered 464 units in May 2019. This was an increase of 23.1% from May 2018 but was still below average for the month.

On a year-to-date basis, home sales totalled 1,828 units over the first five months of the year, an increase of 14.6% from the same period in 2018.

Within the City of Barrie, residential sales activity numbered 226 units in May 2019, up 21.5% on a year-over-year basis. A similar year-over-year increase of 23.2% was recorded in surrounding areas, where sales activity totalled 224 units in May 2019.

“Sales are doing better this year than they were in 2018,” said Tania Artenosi, 2019 BDAR President. “The combination of the Ontario Fair Housing Plan, the B-20 stress test, interest rate increases along with increase housing prices are still having an effect on our market.”

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 Barrie & District was $466,600, down 6.1% in May 2019 compared to May 2018.

The benchmark price for single-family homes was $474,800, down 7% on a year-over-year basis in May. By comparison, the benchmark price for townhouse/row units was $301,200, up 2.3% compared to a year earlier, while the benchmark apartment price was $365,600, rising 6.7%.

The average price of homes sold in May 2019 was $531,323, up 7% from May 2018. The more comprehensive year-to-date average price was $518,804, up 4.1% from the first five months of 2018.

The year-to-date average price figure for homes sold within the City of Barrie thus far in 2019 was $492,183, up by 1.9% compared to the year-to-date average selling price in 2018. The year-to-date average price figure in surrounding areas was $543,192, an increase of 5.4% compared to the year-to-date average price in 2018.

There were 1,047 new residential listings in May 2019. This was a decrease of 10% on a year-over-year basis. Active residential listings numbered 1,586 units at the end of May, edging down only 0.8% (12 listings) from levels seen at the end of May 2018.

Months of inventory numbered 3.4 at the end of May 2019, down from the 4.2 months recorded at the end of May 2018 and below the long-run average of 4.1 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 Barrie region numbered 491 units in May 2019, an increase of 21.2% from May 2018. The total value of all properties sold was $289 million, jumping 41.5% from May 2018.

Simple Negotiating Strategies 
The ability to successfully negotiate can be a real game changer!

Real estate agents use their negotiation skills to help both parties move towards a common goal. They are, however, an important skill that everyone can take advantage of.

The principles are the same whether you’re negotiating a raise with your boss or a curfew with your teenager. Here are a few techniques to consider:

  1. Silence is Golden - Don’t say anything after making an offer. This gives the other party a chance to think but more importantly, it forces them to break the uncomfortable silence.


  2. Cash or Charge? - If your child hates doing their homework, simply ask “Would you like to do your homework before or after dinner?” Instead of excuses, they'll just pick an option.


  3. Plan B, C and D - It’s important not to paint yourself into a corner so always leave yourself options so that you’ll be able to pivot in another direction if things don’t initially go your way.


  4. Feel, Felt, Found - This technique recognizes the other party’s objection and then offers a solution. “I know how you feel. I felt the same way when I had to go to bed early but the next day, I found I had way more energy!"

Life can sometimes be a challenge but honest communication and the ability to negotiate can turn virtually any circumstance into a win-win situation!

Negotiating is a huge part of an agent’s skill set, so when it comes to buying or selling a home, be sure to have an expert on your side to help you overcome the various challenges that may arise.

Don't Lose Your Cool 
Stay cool and score some huge savings this summer!

Air conditioning is great to have when things heat up but it can be very expensive and it’s also bad for the environment. Here are a few tips to help you keep your cool without having to turn on the A/C:


  1. Cross-wind - Place a fan near your window to help create a cooling cross breeze.

  2. Treehouse - Plant deciduous trees on the east and west sides of your home as the leaves will provide shade.


  3. Sunny Side Down - The sun lets in a lot of heat so close your blinds on any windows that receive direct sunlight.

  4. Biggest Fan - Set your ceiling fans to rotate counterclockwise in the summer as they’ll help pull hot air up towards the ceiling.

  5. Appliance Smarts - Use the BBQ or crock pot instead of turning on the oven and wait until the evening to run the dryer and dishwasher.

No one wants to overheat during the dog days of summer but by making a few small changes, you’ll be able to stay as cool as a cucumber while saving the planet and some cash!

There's a Lot at Steak! 
There’s nothing better than grilling a steak in the great outdoors!

The sizzle and aroma of a BBQ is a sure sign that summer’s just around the corner. No one likes a dry, overcooked steak, so here are a few tips to ensure your steak gets grade A treatment:

  1. Plan Ahead - Bring the steak to room temperature before throwing it on the grill.


  2. Fire it Up - A hot grill results in a juicer steak so always preheat your BBQ.


  3. Don’t Poke - Never cut into a steak to see if it’s done as the juices will escape.


  4. Rest Easy - Let it rest for 5 minutes under tented foil to allow the juices inside to redistribute.

The type of beef obviously makes a huge difference to the taste but many experts say that marbling, which are thin white streaks of fat, is just as important as it makes for a juicier, more tender steak. Happy grilling!



PS Are you sick of scouring the web looking for homes? Tired of playing telephone tag with agents only to hear the home's already sold? Sit back, relax and let me do the work for you! Just visit my website and check off the features you're looking for. Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home.


Not meant to solicit clients already under contract.