LCAR Unit 19 - Financing the Real Estate Transaction - 14th Edition Revised
Om034335 volume 9 issue 2_treb-a
1. Strong Home Prices Close Out 2012
Information courtesy of the Toronto Real Estate Board.
TREB
The Toronto Real Estate Board
(TREB) reported that as home prices
rose in 2012, total sales for the
year dropped slightly from 89,096
transactions in 2011 to 85,731 in
2012 – still a healthy showing on an
overall basis.
TREB President Ann Hannah said,
“The number of transactions in 2012
was quite strong from a historic
perspective. We saw strong year-
over-year growth in sales in the first
half of the year, but this growth
was more than offset by sales
declines in the second half. Stricter
mortgage lending guidelines resulted
in some households postponing
their purchase of a home. In the
City of Toronto, the dip in sales was
compounded by the additional Land
Transfer Tax, which buyers must
pay upfront.”
Referring to the rise in the 2012
average selling price by almost
seven percent to $497,298, TREB
Senior Manager of Market Analysis
Jason Mercer noted, “Robust annual
rates of price growth were reported
through most months of 2012. Price
growth was strongest for low-rise
homes, including singles, semis and
townhouses. Despite a dip in sales,
market conditions remained tight for
these home types with substantial
competition between buyers.”
If you’re wondering what the market
conditions are like in your area, or
how much your home might be
worth this spring, please call today
to set up your no-obligation update!
Sales & Average Price By Major Home Type
DEC. 2012 Sales Average Price
416 905 Total 416 905 Total
Detached 491 1,254 1,745 $722,393 $565,544 $609,678
Yr./Yr. % Change -12.3% -13.6% -13.2% 2.4% 8.1% 6.2%
Semi-Detached 129 242 371 $556,260 $385,723 $445,020
Yr./Yr. % Change -35.2% -15.4% -23.5% 7.4% 5.6% 4.0%
Townhouse 154 423 577 $392,590 $347,897 $359,825
Yr./Yr. % Change -20.2% -15.2% -16.6% 5.2% 5.2% 5.1%
Condo Apartment 680 263 943 $342,847 $281,458 $325,726
Yr./Yr. % Change -26.9% -26.3% -26.7% -1.8% 2.1% -0.9%
Recine Team Report
Compliments of Melanie & Fabio RE/MAX Premier Inc., Brokerage
Each office is independently owned and operated.
Melanie Maranda Recine &
Fabio Recine
Sales Representatives
"It's your call
Call Melanie and Fabio"
RE/MAX Premier Inc., Brokerage
9100 Jane Street, Bldg. L, Suite #77
Vaughan, ON L4K 0A4
Office: 416-987-8000
Fax: 416-987-8001
Direct Melanie: 647-836-4062
Direct Fabio: 416-828-5441
mmaranda96@hotmail.com
frecine@trebnet.com
www.RecineTeam.ca
Greetings! You’re receiving this
newsletter with hopes that you find it
informative and entertaining.
If you’re thinking of making a move, or
are just curious as to real estate trends
in your area, please feel free to call at
any time. It’s always good to hear
from you!
Best wishes,
Melanie and Fabio
Volume 9, Issue 2
2. The War Against Germs
2
Rhinoviruses (the predominant cause of colds) and
influenza viruses are easily transmitted through direct
contact with contaminated surfaces, and can live on
surfaces anywhere from several hours, up to two days.
Where are germs – viruses included – most likely to be
hiding in your home? Some of the answers you’ll no doubt
guess – others may surprise you.
Your kitchen sponge/dishrag/towels. Their moistness makes
them an ideal breeding ground in which germs can survive
and thrive.
The TV remote. When it’s not stuffed between the couch
cushions, it’s being handled by hands that have been
coughed and sneezed on.
Doorknobs, light switches, and handles (faucet, appliance,
drawer, or door). In and out, on and off, all day, every day –
is it any wonder they’re so dirty?
Your computer keyboard. Do you eat and drink over your
keyboard? Many people do – but then don’t clean them
nearly as often as they should.
The bathtub. Some studies have even shown the bathtub,
particularly the area around the drain, to be dirtier than
that other bathroom culprit, the toilet.
Your salt and pepper shakers. Would you believe your
shakers can have one of the highest concentrations of
viruses in your home?
Now that you know some common hotspots, how can you
inhibit the spread of germs at home and lower the risk of
illness? First, step up your disinfecting game, if only during
cold and flu season.
There are plenty of commercial wipes and solutions
available that promise to “kill 99.9% of germs” and whose
labels shout “antibacterial”. But chances are you’ve already
got some highly effective disinfectants in your cupboards
– ones that are less expensive and less toxic, too: bleach
(a little goes a long way when diluted with water), white
vinegar, lemon juice, hydrogen peroxide, and isopropyl
alcohol. Whatever your disinfectant of choice is, use it with
paper towels, which can be thrown away after use, further
helping to prevent the spread of germs.
Of course, the best thing you (and everyone else in your
family) can do to inhibit the spread of germs and illness
at home is wash your hands, frequently and thoroughly.
A proper hand washing requires soap and lots of rubbing
– palm-to-palm, palm-to-back, and fingers interlaced
– for at least 20 seconds. And if you think you need an
antibacterial product, here, too, think again: regular soaps
work just as well as those marketed as “antibacterial.” In
fact, many experts now advise against antibacterial soaps as
they’re no more effective, yet may contribute to antibiotic
or antibacterial resistance. Finally, dry hands completely
– damp ones spread more bacteria than dry ones – using
disposable towels, or designate a towel for the exclusive use
of each family member during cold and flu season.
As we’re in the thick of cold and flu season, now seems a fitting time to talk about germs at home – where they
like to congregate, how to prevent their spread, and, by extension, how to minimize the risk of them making you
and your family sick.
3. Fully Detached
Hunting Equipment
Volume 9, Issue 2 3
Home hunting can be an arduous task. To make the
process less stressful and more fruitful, here are six
things you should consider bringing with you on the
hunt for your next address.
A needs/wants checklist. This is a handy way to
measure how each property you look at stacks up to
your requirements. As well, a checklist will help keep
you focused and your decision-making based on your
needs rather than on your emotions.
A pen and paper (or more high-tech note-taking
device). You’ll no doubt want to take some notes –
what you saw that you liked, what would have to
change, any concerns you had, questions you’d like to
ask – about each home you visit.
A camera. Homes tend to blur together after a while,
so taking pictures of their exteriors and surroundings
will help you to remember (and distinguish between)
each property – just be respectful of sellers’ privacy
about interior photos.
A tape measure. You might not need this on your first
round of home hunting, but once you’ve narrowed
your search down to serious contenders, you might
want to know things like how (or even if) your
furniture will fit in the space.
Energy-boosting snacks. It’s easy
to run out of steam when viewing
several homes in a day; plus,
it’s hard to focus when
you’re hungry. Dried fruit
and nuts, yogurt and
granola, or whole-grain
crackers with cheese are
great battery rechargers.
A professional real estate
salesperson. If you bring
nothing else, bring your
real estate representative.
Your rep will save you
time, by narrowing your
home search and keeping
you focused, and save
you stress along the way.
Get packing. Start with the personal stuff:
photographs, diplomas, trophies, kids’ artwork,
souvenirs, knick-knack collections, etc. With these
things gone, it’s easier for buyers to imagine themselves
living in the space – and it’s easier for you to picture
them there, too. Besides, you’ll have to pack these
things up at some point anyway.
Redecorate – for buyers, that is. When your property’s
on market, its décor should appeal not to you, but to
the greatest number of potential buyers: think neutral
colors and subdued patterns on walls and floors. When
it stops looking like your home, it stops feeling like
your home – that’s a step in the right direction for you
and for buyers.
Adopt a show-ready lifestyle. While your home is for
sale, you need to tweak your daily routine so as to be
prepared for buyers’ arrival at a moment’s notice. That
means making some rooms off-limits, taking the trash
out every day, and making beds every morning, for
example. With the change in routine comes the needed
change in mentality.
Ask your real estate sales rep for a report on
comparable sales – current sales of properties similar
to yours in terms of square footage, number of
bedrooms, number of bathrooms, etc. Seeing such a
breakdown will help you to paint a picture of your
home that’s by the numbers rather than one that’s
drawn from emotion.
Emotionally detaching from your home is key to
remaining objective when setting your asking price
and sitting at the negotiating table. Here’s how to
stop seeing your home as “your” place, and start
seeing it as a product to be marketed and sold like
any other.