Toronto Real Estate News from Margie K Team 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!

Penny & Margie

In this issue...
Toronto Real Estate Market Update 
Home sales up from last year but still below 10 year average.

Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 9,989 transactions through TREB's MLS® System in May 2019.

While this result represented a substantial increase of 18.9 per cent over the 15-year low in May 2018, it should be noted that the result was still below the average for month of May sales for the previous ten years, which stands at almost 10,300.

The year-over-year uptick in sales experienced so far in the second quarter of 2019 reflects spring polling results from Ipsos (undertaken on behalf of TREB) suggesting that the share of likely home buyers in the Greater Toronto Area has edged upwards since the fall.

"After a sluggish start to 2019, the second quarter appears to be reflecting a positive shift in consumer sentiment toward ownership housing. Households continue to see ownership housing in the GTA as a quality long-term investment as population growth from immigration remains strong and the regional economy continues to create jobs across diversity of sectors,” said Mr. Bhaura.

“However, sales activity continues to be below the longer-term norm, as potential home buyers come to terms with the OSFI mortgage stress test and the fact that listings continue to be constrained relative to sales.”

The number of new listings entered into TREB's MLS® System in May 2019 was up only slightly compared to May 2018, increasing by 0.8 per cent to 19,386. Year-over-year growth in new listings was far outstripped by year-over-year growth in sales.

This means that market conditions continued to tighten in favour of sellers. The MLS® Home Price Index (HPI) Composite benchmark price was up by 3.1 per cent on a year-over-basis. The average selling price for all home types combined was up by a similar 3.6 per cent to $838,540. Price growth was driven by the condominium apartment and townhouse market segments.

"We are experiencing annual rates of price growth that are largely sustainable right now in the GTA – above the rate of inflation, but in the single digits. If, however, we continue to see growth in sales outstrip growth in new listings, price growth will accelerate," said Jason Mercer, TREB's Chief Market Analyst.

“This potential outcome underpins calls from TREB and other housing industry stakeholders to address roadblocks preventing a more sustainable and diverse supply of housing reaching the market. Many households are not comfortable listing their homes for sale because they feel that there are no housing options available to better meet their needs.”

Salsa on St. Clair 
Come out and enjoy the biggest street fiesta in Canada!

Get swept up in the fun and flavours of Canada’s biggest Latin-themed cultural celebration!

Enjoy vibrant music, dance performances, an amazing festival parade and some of the tastiest Latin food around!

You won’t be able to stop dancing the day away at the Salsa on St. Clair Street Festival but help is at hand if you’re a novice as salsa and bachata lessons will be offered all day at no charge.

The action will be taking place on St. Clair Ave. West between Christie Street and Winona Drive on Saturday, July 6th and Sunday, July 7th starting at noon. Come out and enjoy the very best in Latin food, music and entertainment. Let the fiesta begin!

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 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 us do the work for you!  Just visit our 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 out on your dream home.


Not meant to solicit clients already under contract.