Toronto Real Estate News from Chris Elder May 2019   
  Real Estate News




Chris Elder
Sales Representative

30 Eglinton ave. w. Suite C12
Mississauga, Ontario
647.774.7986
www.chriselder.info


 
Spring is usually a very busy time for home sales! This month's article discusses how you can use spring's natural beauty to enhance your home's resale potential.

There are also some tips that'll help you determine whether or not someone's telling you the truth as well as a few social media spring cleaning strategies to help you keep your digital world in check.

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 
Home sales up compared to same time last year.

Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported a substantial year-over-year increase in home sales in April 2019.

The number of residential transactions jumped by 16.8 per cent to 9,042 compared to 7,744 in April 2018. On a preliminary seasonally adjusted basis, sales were up 11.3 per cent compared to March 2019.

New listings were also up year-over-year by eight per cent. However, the annual growth rate for new listings was much lower than that reported for sales. This suggests that market conditions continued to tighten which points toward an acceleration in price growth.

“The strong year-over-year growth in sales is obviously a good news story and likely represents some catchup from a slow start to the year. TREB’s sales outlook for 2019 anticipates an increase relative to 2018. It should be noted, however, that growth in new listings is not keeping pace with sales."

"This points to the ongoing housing supply issue in the GTA. In this regard TREB welcomes the provincial government’s Housing Supply Action Plan announced last week to reduce red tape and improve the mix of housing types. TREB provided input on the Plan through submissions and participation on working groups,” said Mr. Bhaura.

The year-over-year rate of price growth generally edged up in April relative to the first three months of the year. The MLS® HPI Composite benchmark was up by 3.2 per cent – the highest rate of growth in more than a year. The average selling price was up by 1.9 per cent to $820,148, representing the strongest annual rate of growth so far in 2019. On a preliminary seasonally adjusted basis, the average selling price was also up by 1.1 per cent compared to March 2019.

Price growth continued to be driven by the condominium apartment segment and higher-density low-rise segments. The average price for detached houses dipped year-over-year, specifically in regions surrounding the City of Toronto. The detached market segment, with the highest price point on average, has arguably been hardest hit by measures such as the OSFI stress test.

“While sales were up year-over-year in April, it is important to note that they remain well-below April levels for much of the past decade. Many potential home buyers arguably remain on the sidelines as they reassess their options in light of the OSFI-mandated two percentage point stress test on mortgages."

"Longer term borrowing costs have trended lower this year and the outlook for short-term rates, for which the Bank of Canada holds the lever, is flat to down this year. Unfortunately, against this backdrop, we have seen no movement toward flexibility in the OSFI stress test,” said Jason Mercer, TREB’s Chief Market Analyst.

The Mississauga Waterfront Festival 
This incredible family-friendly festival is back for its 22nd year!

Spend some quality family time this summer at the beautiful Port Credit Memorial Park for this exciting, 3-day waterfront festival!

The Mississauga Waterfront Festival continuously makes the list of Ontario's Top Festivals and Events as it consistently showcases a fresh new lineup of performers and attractions.

The fun kicks off on Friday, June 14th and runs until Sunday, June 16th. Enjoy the carnival, outdoor concerts, theatre performances, a petting zoo, interactive sports activities, games, vendors, delicious food and much more!

For more information such as hours of operation and the extensive entertainment schedule, check out the Mississauga Waterfront Festival website. Be sure to bring the entire family as there's no charge for this event. Hope to see you there!

A Few Tips that Spring to Mind 
If you're thinking of selling your home, springtime's the perfect time!

Home sales usually surge come springtime as the fresh, sunny weather encourages people to fix up their homes and check out what else is on the market. Here are a few ways to take advantage of spring fever:

  1. Flower Power - Place a few vases of fresh cut flowers throughout your home.

  2. Clutter Control - Decide what needs to be tossed out and what can be donated.

  3. Spring Fling - Once you've decluttered, freshen up your home with a thorough spring clean.

  4. Wide Open - Clean and then open your windows so the sun shines in and fresh spring air flows throughout your home.

  5. Refresh Your Nest - Inject vitality into your space by swapping out couch cushions, throws and towels with shades and fabrics that reflect the spring season.

  6. Outdoor Living - Families are entertaining more at home than ever before so extend your inside space outdoors with comfortable seating and ambient lighting.

  7. Curb Appeal - The spring naturally highlights your yard's best features so prune trees, trim shrubs, rake the grass and add flower pots around the front door.

If you plan on putting your home on the market, use the spring season to highlight its best features so it stands out from the competition. You only have one chance to make a great first impression, so clear out the cobwebs and make your home spring fresh!

The Language of Lying 
Here are a few tell-tale signs to help you recognize tall tales!

One of the most effective ways to determine whether or not someone's lying is to examine their body language and speech patterns. Here are a few tips that'll help turn you into a human lie detector:

  1. Um, Err - Liars often mispronounce words, stutter or sniff due to nervous tension.

  2. Tick Tock - Deceptive answers usually take longer to formulate than truthful ones.

  3. Cover Up - Covering the mouth and rubbing the nose and eyes can indicate untruthfulness.

  4. Pivoting - Liars welcome a change in conversation resulting in their body language becoming more relaxed.

  5. Fade Away - Their body will start to scrunch up as if they're trying to fade away and any movement will be stiff and limited.

  6. Pick Pocket - Showing palms is a sign of honesty so people who are fibbing will often put their hands in their pockets and fidget.

  7. Look at Me - Liars usually avoid eye contact while seasoned pros will overcompensate and maintain deliberate eye contact.

Detecting deceit isn't always easy as some people are better liars than others. Asking questions can help determine whether or not someone's lying as it's difficult to fabricate specific details on the spot. A single tell may mean nothing but when combined together, chances are they're hiding something.

Social Media Spring Cleaning 
It's not just your closets that could do with a good spring clean!

Whether you're on Facebook, Twitter or Instagram, it's good to get in the habit of performing regular maintenance on your accounts. The following tips will help you clean out the digital cobwebs:

  1. Safe & Secure - Change your passwords and beef up security settings.

  2. Perfect Privacy - Review your privacy settings and adjust if necessary.

  3. Hack Attack - Back up your Facebook page in case your account gets hacked.

  4. Clear the Clutter - Unfollow or unfriend those you no longer keep in touch with.

  5. Lock Down - Update the recovery details that are associated with each account.

While you're in clean-up mode, go through your phone and delete any apps you no longer use. Most apps require access to your personal details so the fewer you have, the more privacy you'll gain.



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.