Toronto Real Estate News from Chris Elder November 2018   
  Real Estate News




Chris Elder
Sales Representative

151 City Centre Drive
Mississauga, Ontario
647.774.7986
www.chriselder.info


 
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!

Chris

In this issue...
Toronto Real Estate Market Update 
Toronto home sales up over same time last year.

Toronto Real Estate Board President Garry Bhaura announced year-over-year increases in home sales and average sale prices reported through TREB's MLS® System in October 2018.

Greater Toronto Area REALTORS® reported 7,492 sales through TREB's MLS® System in October 2018 – a six per cent increase compared to October 2017. On a preliminary seasonally adjusted basis, sales were down by one per cent compared to September 2018.

The average sale price for October 2018 was up 3.5 per cent on a year-over-year basis to $807,340. After preliminary seasonal adjustment, the average selling price was up one per cent compared to September 2018.

The MLS® Home Price Index (HPI) Composite Benchmark was up by 2.6 per cent compared to October 2017. Price growth continued to be driven be the condominium apartment and higher density low-rise market segments.

"Annual sales growth has been positive since the late spring. While the OSFI stress test and higher borrowing costs have kept sales below 2016's record pace, many households in the Greater Toronto Area remain upbeat on home ownership as a quality long-term investment. A strong regional economy and steady population growth will continue to support the demand for housing ownership as we move into 2019," said Mr. Bhaura.

There were 14,431 new Listings entered into TREB's MLS® System in October 2018 – down 2.7 per cent compared to October 2017. The fact that sales were up and new listings were down year-over-year in October suggests that market conditions became tighter.

"Annual sales growth has outstripped annual growth in new listings for the last five months, underpinning the fact that listings supply remains an issue in the Greater Toronto Area. With municipal elections in the rear view mirror, all levels of government need to concentrate on policies that could remove impediments to a better-supplied housing market, including facilitating the development of a broader array of medium density housing choices," said Jason Mercer, TREB's Director of Market Analysis.

The Toronto Christmas Market 
Come out and enjoy an authentic European style Christmas market!

It’s that time of year again when the Toronto Distillery District transforms itself into a European style traditional Christmas market!

Inspired by the Old World and influenced by the New, this annual event includes musicians, a life-sized gingerbread house and even Santa’s Village!

There will also be over 400 performances on the main stage including carolers, singers, brass bands and a variety of cultural dancers.

Marvel at the iconic 54 foot Christmas tree twinkling with over 40,000 lights and 1½ km of gold ribbon! If you need a chance to warm up, there are several heated hospitality lounges where visitors can enjoy an authentic European Christmas cocktail along with an array of delicious food items.

Come and experience the magic and romance between Thursday, November 15th and Sunday, December 23rd every day except Mondays. There’s something fun for everyone at the Toronto Christmas Market. Ho Ho Hope to see you there!

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.



PS Are you sick of scouring the paper and MLS sites 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.