Frank Steinhausen, Broker
FSteinhausen@REMAX.net
RE/MAX Rouge River Realty Ltd., Brokerage
Phone 905-428-6533
Fax 905-668-1850
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Archive for the 'Buying real estate' Category
GTA Resale Housing Remains Stable in August
August 21st, 2008 Categories: Buying real estate, Real Estate News, Selling real estate
August 19, 2008 — The Greater Toronto Area (GTA) resale housing market remained stable throughout the first half of this month, Toronto Real Estate Board President (TREB) Maureen O’Neill announced today.
“We’re continuing to see consistent levels with respect to sales volumes and prices,” said Ms. O’Neill. “While the numbers are more conservative than those in recent years, the stability we’re experiencing should help sustain consumer confidence as we move into the fall market.”
With 3,019 transactions in the GTA during the first half of the month, sales were down 13 per cent compared to the 3,480 sales recorded at mid-August last year, and off eight per cent compared to the 3,290 sales recorded during the same period in 2006.
In the City of Toronto, 1,192 transactions were recorded, down 15 per cent from the 1,411 sales that took place in the first half of August 2007, and off six per cent compared to the 1,269 sales that occurred in the same timeframe two years ago.
“While 2007 was a record year, it is still worthwhile to note that sales in the City of Toronto increased 11 per cent between mid-August 2006 and mid-August 2007, before the Toronto Land Transfer Tax went into effect,” said Ms. O’Neill.
In the 905 Region there were 1,827 sales to mid-month, down 12 per cent from the 2,069 transactions that took place in the same period a year ago, and off 10 per cent from the 2,021 sales recorded in the first two weeks of August 2006.
Prices meanwhile, increased compared to the same timeframe last year. The current average price in the GTA is $373,844, up five per cent from the mid-August 2007 figure of $354,088.
In the City of Toronto the average price is currently $394,563, up seven per cent from the $370,037 figure recorded a year ago.
In the 905 Region the average price is $360,325, up five per cent from the $343,210 recorded at mid-August 2007.
There are currently 26,128 active listings, up 28 per cent from the 20,365 properties available for sale a year ago. This has resulted in homes remaining on the market for a slightly longer period of 35 days compared to 32 days last August.
Several GTA neighbourhoods however, experienced brisk sales throughout the first half of this month.
In Whitby (E15) transactions increased 12 per cent compared to the same period a year ago as a result of strong detached home sales.
Detached home sales also led Aurora (N06) to a 21 per cent increase in transactions.
Streetsville (W19) saw eight per cent more transactions driven by a significant increase in the sale of attached row houses.
In Downtown Toronto (C01) transactions increased six per cent compared to mid-August 2007 as a result of strong sales in all housing types.
“It’s encouraging to see strong activity levels in pockets throughout all four corners of the GTA.” Said Ms. O’Neill.
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Why Do It Yourself In Real Estate?
August 8th, 2008 Categories: Buying real estate
I came across an interesting opionion in my blog-scanning. I think it is interesting, because I think he is right. When I can leave all the leg work to an expert, I do. Here’s what Marc Davidson of 1000 Watt Blog thinks:
Why agents will one day rule the real estate world
Karen is my travel agent.
Her services cost me $40.00 per flight.
Those services save my life.I email Karen my travel particulars.
Within the hour, she sends me an itinerary.
I approve, she books. Runs my card. Done.I have no interest in using the web for travel anymore.
It’s anything but empowering.
It’s not even fun.Empowerment is delegating arduous tasks to a professional.
Someone who possess a core expertise in that which you are novice.
And produces results faster and better than you can.Spending time booking a hectic travel schedule is not empowering.
Zaps time better spent on other things.
Playing Wii with the kids. Jogging. And after drink with my wife and wishing the moment could last forever.Real estate.
I’m done searching for homes online.
It’s cumbersome, confusing and no longer fun.Search sites have now narrowed it down beyond simplicity.
With advanced search filters galore.
And maps with little blue markersI struggle to get passionate about that.
Or believe that it is the best experience the web can provide.
Or that it gets users any closer to what they really want.Survey’s say consumers research for months prior to calling an agent.
Then, during a ten minute phone call, they tell that agent what they are really looking for.
A home with an artistic vibe to it. Close to a Montessori school. In a neighborhood where there are other kids.And I wonder, why don’t we just do that from the onset.
How can a web search possibly find vibe?
I’m sure it could.
I guess all those Stanford grads who now decide how we simple folk search haven’t thought of it.
But an agent can do it for us. Especially a good one.One that knows the neighborhood.
And understands what “vibe” means.
And send us an itinerary of vibey homes by email within the hour.These days, my sands of time are dissolving into the bottom half of the hourglass.
At 51, having been at the Internet thing since the 80’s, I appreciate the immense value it offers.
I also appreciate its limitations.For the last decade, through the web, real estate handed the agent’s work over to the consumer.
It was cool for a while. Some say empowering
But now, I think for me anyway, I’d like to hand it back to the agent.Gladly.
I don’t want to do your job anymore.
I think, I am not alone.You are the future of real estate.
I still believe in the web.
And there are some search sites I love.
And broker sites that help me source good agents.They are the ones posting nice, quality pictures of their homes.
Posting them on the big national search sites.
Branding their efforts with their brokersThey are the ones who are making it easy for me to contact them.
Not through a form. Or some office number.
With a real email account. A cell number. A facebook link.And live chat.
As for the 6% commission, I am at peace with that.
Especially in the wake of Exxon’s recent net profit report.
And the billions of bonus dollars all their execs will reap.If my agent handles search, finds the right home or sells my home during a bad market, god bless them.
Here’s my check.
Thank you so very much for your service.- Davison
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GTA Resale Housing Stable in July
August 7th, 2008 Categories: Ajax, Buying real estate, Durham Region, Pickering, Pickering Village, Real Estate News, Selling real estate
TORONTO, August 6, 2008 — With 7,806 transactions recorded last month, the Greater Toronto Area (GTA) resale housing market continued at a moderate pace in July, Toronto Real Estate Board (TREB) President Maureen O’Neill announced today.
Prices remained stable throughout the GTA in July. At $371,427 the average price increased slightly more than one per cent from $366,012 recorded in July 2007 and nine per cent from the $342,034 figure of two years ago.
In the City of Toronto the average price of $395,342 increased less than one per cent from the July 2007 price of $395,044 and 10 per cent from the July 2006 figure of $360,409.
In the 905 Region the average price increased three per cent to $355,401 compared to the July 2007 figure of $345,967. This also represents an eight per cent increase from the July 2006 average of $329,644.
“Sales declined 12 per cent last month from the best-ever July 2007 record of 8,912 but increased 10 per cent from the 7,082 sales transacted in July 2006,” said Ms. O’Neill. “Comparing July 2007 with July 2006, sales increased by 26 per cent.”
In the City of Toronto 3,132 sales were recorded, down 14 per cent from July 2007’s 3,640 transactions but up 10 per cent from the 2,852 sales recorded two years ago in 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
In the 905 Region there were 4,674 transactions, down 11 per cent from July 2007’s 5,272 sales but up 10 per cent from the 4,230 sales recorded in July 2006. Comparing July 2007 with July 2006, sales increased 25 per cent.
From a year-to-date perspective, the GTA’s 51,249 sales in 2008 have declined 14 per cent from the 59,339 reached at this time a year ago.
Certain neighbourhoods throughout the GTA experienced increased sales activity in July.
In Whitby (E15) sales increased 22 per cent from July 2007, based on strong sales in most housing types.
Brampton East (W24) saw a 12 per cent increase, based primarily on semi-detached home sales.
Strong detached home sales drove Uxbridge (N16) to a 23 per cent increase compared to a year ago.
The Annex (C02) experienced a 29 per cent sales increase due to strong detached home and condominium apartment sales.
In addition to stable prices, the list to sale price ratio, at 98 per cent, remains unchanged from a year ago.
“While homeowners continue to see healthy returns, it is taking slightly longer to achieve a sale; the average time on market has increased to 33 days compared to 31 days a year ago,” said Ms. O’Neill. “This may be due to that fact that there is now more choice available to homebuyers; there are currently 26,543 active listings, a 28 per cent increase from a year ago.”
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 28,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.
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GTA Resale Housing Prices Up, Sales Down
July 19th, 2008 Categories: Area interest, Buying real estate, Selling real estate
TORONTO, July 17, 2008 — Moderate activity and strong prices continued to characterize the Greater Toronto Area (GTA) resale housing market during the first half of July, Toronto Real Estate Board President Maureen O’Neill announced today.
“The average price in the GTA during the first half of July was $379,072, which is a one per cent increase from the $374,254 recorded in the first two weeks of July 2007 and a nine per cent increase from $346,267 recorded during the same period in July 2006,” said Ms. O’Neill.
In the 416 area, the average price was $419,199, up one per cent from the $414,321 recorded during first half of July 2007 and up 14 per cent from the $367,541 recorded during the same period two years ago.
At $353,257 the 905 region’s average price was up two per cent from $345,741 recorded in the first half of July 2007 and up six per cent from $332,733 recorded during the same period in July 2006.
“Continued strength in house prices throughout the GTA indicates that consumers continue to recognize the value of real estate as a long-term investment,” said Ms. O’Neill.
Sales activity remained moderate in the first half of July, with 3,497 homes changing hands in the GTA. This is a decrease of 11 per cent from the 3,947 properties sold in the same period in 2007 but an eight per cent increase from the 3,251 transactions recorded in the first two weeks of July 2006. Sales in the first two weeks of July 2007 saw a 21 per cent increase from mid-July 2006.
In the 416 area there were 1,369 sales, down 17 per cent from the 1,641 recorded during the first two weeks of July 2007 but up eight per cent from the 1,264 sales recorded in the same period in July 2006. Before the Land Transfer Tax went into effect, sales increased 30 per cent in the first half of July 2007 compared to the same period in July 2006.
Sales in the 905 region came in at 2,128 in the first half of the month, down eight per cent from the 2,306 recorded during the same period last year but up seven per cent from the 1,987 sales recorded during the first half of July 2006. Sales in the first two weeks of July 2007 saw a 16 per cent increase over mid-July 2006.
Activity in certain areas increased in the first half of this month.
Bowmanville (E17) saw a 12 per cent overall increase in sales due to an increase in detached home transactions.
Brampton (W24) sales increased 18 per cent, driven primarily by a significant increase in semi-detached home transactions.
The Annex (C02) experienced a 70 per cent increase in sales largely due to an increase in detached home transactions.
“Although the number of available properties has increased 25 per cent compared to a year ago, from 21,777 to 27,317 listings, the number of days on market remains the same at 32, which is a positive sign,” said Ms. O’Neill.
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 28,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.
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11 Questions to Ask When Choosing a Real Estate Agent
July 14th, 2008 Categories: Buying real estate, Selling real estate
- How long have you been in residential real estate sales? Is it your full-time job? (While experience is no guarantee of skill, real estate, like many other professions, is mostly learned on the job.)
- How many homes did you and your company sell last year?
- How many days did it take you to sell the average home? How did that compare to the overall market?
- How close to the initial asking prices of the homes you sold were the final sale prices?
- What types of specific marketing systems and approaches will you use to sell my home? (Look for someone who has aggressive, innovative approaches, not just someone who’s going to put a sign in the yard and hope for the best.)
- Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction? (While it’s usually legal to represent both parties in a transaction, it’s important to understand where the practitioner’s obligations lie. A good practitioner will explain the agency relationship to you and describe the rights of each party. It’s also possible to insist that the practitioner represent you exclusively.)
- Can you recommend service providers who can assist me in obtaining a mortgage, making repairs on my home, and other things I need done? (Keep in mind here that real estate professionals should generally recommend more than one provider and should tell you if they receive any compensation from any provider.)
- What type of support and supervision does your brokerage office provide to you? (Having resources, such as in-house support staff, access to a real estate attorney, or assistance with technology, can help a real estate professional sell your home.)
- What’s your business philosophy? (While there’s no right answer to this question, the response will help you assess what’s important to the real estate practitioner—fast sales, service, etc.—and determine how closely the practitioner’s goals and business emphasis mesh with your own.)
- How will you keep me informed about the progress of my transaction? How frequently? Using what media? (Again, this is not a question with a correct answer, but that one reflects your desires. Do you want updates twice a week or don’t want to be bothered unless there’s a hot prospect? Do you prefer phone, e-mail, or a personal visit?)
- Could you please give me the names and phone numbers of your three most recent clients
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Lack of Planning, Doesn’t Constitute a New Home Development Emergency
July 13th, 2008 Categories: Area interest, Buying real estate
Lack of planning on Mattamy’s part, doesn’t constitute an emergency on 
the city council’s part.
At a recent city council meeting, Mattamy Homes tried to speed up the approval process by asking Pickering city councillors to allow them to start grading for their new home subdivision in Seaton.
Denied.
It seems that Mattamy Homes asked to jump over a couple of planning by-laws in order to get a jump on building. City council actually said “no” to a big developer.
It is not that the development is not going to happen. It will. It looks like the council is trying to avoid any chaining of protesters to trees or bulldozers by making sure that all the papers are filed in the right order.
It looks good on you, council.
We will keep you posted.
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What’s Happening In Your Neck Of The Woods? Local Real Estate Updates
July 6th, 2008 Categories: Ajax, Buying real estate, Oshawa, Pickering, Selling real estate
As I was reviewing the June statistics, I looked over the detail that is always presented and is usually glanced at.
Here is what I found:
- In South Pickering:
– 4 condo apartments were for sale and none sold.
– 10 condo townhouses were actively for sale and 4 sold with the average sale price of $231,700.
– 2 linked homes (attached by the garage) were for sale and none sold.
– 5 freehold townhomes were listed for sale and 1 sold.
– 6 semi-detached were for sale and 6 of them sold with an average price of $232,000. That’s a rare site to see everything sold.
– 48 detached homes were for sale and 27 of them sold. That’s a solid 56% sell through rate. We only worry if it stays below 40% for a number of months. - In North Pickering:
– 15 condo apartments were listed for sale and 14 sold. Pretty good odds.
– 49 condo townhouses were for sale and 16 sold for an average sale price of $208,000.
– 6 linked homes were for sale and 2 sold. Not a popular option in Pickering this month.
– 32 freehold townhomes were listed and 15 of them sold for an average of $253,000.
– 18 semi-detached were actively listed and 3 sold.
– 199 detached homes were listed for sale and 60 of them sold for a sell through rate of 30% and an average price of $339,390. - In Ajax: (let’s start at the top)
– 344 detached homes were listed and 124 sold for an average price of $318,750.
– 29 semi-detached were for sale and 9 of them sold for an average of $255,500.
– 53 freehold townhomes were actively listed and 22 of them sold.
– 8 linked homes were for sale and 3 sold.
– 31 condo townhomes were listed and 7 sold.
– 3 detached condo were listed in south Ajax and one sold.
– 17 condo apartments were for sale and 6 sold.
The days on market is holding steady at about 30 days giving buyers the chance to be sure of their decisions.
Want the magnifying glass to deeper and find out about your neighbourhood, I can give you what you need.
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GTA Resale Housing More Balanced in June
July 6th, 2008 Categories: Buying real estate, Real Estate, Real Estate News, Selling real estate, Whitby
July 4, 2008 — The trend toward more balanced market conditions continued in June with 8,600 properties changing hands, Toronto Real Estate Board President Maureen O’Neill announced today.
It is important to note that in this release you will also find market numbers specific to the resale housing activity in 2006 and 2007. This comparison is provided to help present a more accurate perspective of the resale housing market of 2008.
At $395,866, the Greater Toronto Area average price for last month increased by four per cent compared to June 2007 when it was $381,963. The City of Toronto’s average price of $433,082 last month increased three per cent from $421,139 in June 2007. In the 905 Region, last month’s average was $370,559, an increase of four per cent, from $355,240 in June 2007.
In the first two quarters of 2008, the average GTA price increased four per cent to $390,054 from $373,719 during the same time period in 2007, and up 9 per cent from the $356,977 recorded in the same period in 2006.
In the City of Toronto, the average price in 2008 increased four per cent to $427,198 from $411,530 in 2007, and up 10 per cent from $389,313 during the same period in 2006. In the 905 Region the increase was five per cent to $365,536 from $347,852 a year ago, up 9 per cent from
$334,220 in 2006.
“Although June 2008 sales in the Greater Toronto Area (GTA) have declined 18 per cent to 8,600 from the June 2007 total of 10,451, June 2007 was the best performance ever for that month,” said Ms. O’Neill.
“This year we’re seeing a return to calmer conditions but the market remains healthy. When compared to the 8,730 transactions in June 2006, GTA sales activity in June 2008 decreased by only one per cent.” Record month June 2007 saw a 20 per cent increase over June 2006.
In the City of Toronto there were 3,481 transactions last month, a decline of 18 per cent from June 2007 with 4,238 sales but down 4 per cent over the 3,641 transactions in June 2006. When you compare record month June 2007 with June 2006, a period before the Toronto Land Transfer Tax went into effect, sales increased 16 per cent.
The 905 Region experienced an equivalent decline of 18 per cent, with 5,119 sales last month compared to 6,213 transactions in June 2007 but a one per cent increase over the 5089 properties sold in June 2006. When you compare record month June 2007 with June 2006, sales in the 905 Region increased by 22 per cent.
In the first two quarters of 2008, GTA sales declined 14 per cent to 43,685 transactions from 50,648 during the same time a year ago and down five per cent from the 45,797 recorded in the same period in 2006. When you compare the first two quarters of 2007 with the same period in 2006, GTA sales increased by 11 per cent.
In the City of Toronto, sales for the first two quarters declined 15 per cent to 17,370 from 20,574 in 2007 and down 8 per cent from 18,917 in 2006. In the 905 Region sales declined 12 per cent to 26,315 from 30,074 in 2007 and down 2 per cent from 26,880 in 2006. However, when you compare the first two quarters of 2007 with the same period in 2006, sales increased by 9 per cent in the City of Toronto and by 12 per cent in the 905 Region.
“The increase in listings we have seen in recent months has resulted in a slightly longer period during which homes are on the market, from 29 days a year ago to 34 days currently,” said Ms. O’Neill. “This has given buyers and sellers a little more time to make well-considered decisions.”
In certain pockets however, the pace of sales remained brisk this June. Brooklin (E19) experienced a 35 per cent increase in overall sales based on strong detached home transactions.
Burlington (W25) saw a 65 per cent increase in activity, driven by detached home transactions and even more robust attached/row house sales.
In Downtown East (C08), activity was up four per cent due to attached/row house and condominium apartment sales.
“We expect to see balanced market conditions continue in the coming months,” said Ms. O’Neill. “When you look at it from a long-term perspective real estate invariably provides stable returns.”
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GTA Resale Housing Continues Steady Pace
June 20th, 2008 Categories: Ajax, Buying real estate, Pickering, Pickering Village, Real Estate News, Selling real estate
TORONTO, June 18, 2008 — The Greater Toronto Area (GTA) resale housing market continued at a moderate but healthy pace throughout the first half of June, Toronto Real Estate Board President Maureen O’Neill announced today.
Prices continued their upward trend in the first half of this month. The GTA average price is currently $398,542, up four per cent over the $384,576 average from the same timeframe a year ago and up 11 per cent from the $358,648 recorded at mid-June 2006.
In the City of Toronto the current average price is $439,469, up three per cent over the $424,888 average a year ago and up 14 per cent over the $386,960 average in the first half of June 2006.
In the 905 Region the average price is $371,686 up four per cent from the $357,359 average a year ago and up 10 per cent from the $338,578 recorded at mid-June 2006.
“With 4,374 transactions in the first two weeks of this month, sales in the GTA declined 14 per cent compared to the same timeframe a year ago, which was particularly a strong year, when 5,074 properties were sold,” said Ms. O’Neill. “However, compared to the first half of June 2006 when 4,074 properties changed hands, this month’s activity is up seven per cent.
In the City of Toronto 1,733 sales took place to mid-June 2008. This represents a 15 per cent decrease compared to the 2,045 properties sold a year ago but a two per cent increase over the 1,690 transactions in the first half of June 2006. A different story emerges when you compare the first half of June 2007 before the Toronto Land Transfer Tax went into effect to the same period in June 2006, a period showing a 21 per cent increase in sales.
In the 905 Region, the scenario was similar. In the first two weeks of June, 2,641 properties were sold. This represents a 13 per cent decline compared to the 3,029 homes sold in the first half of June 2007 but an 11 percent increase over the 2,384 properties sold at mid-June 2006. When you compare the first half of June 2007 to the same period in June 2006, sales increased by 27 per cent.
Certain communities including Riverdale, West Agincourt, Caledon and Richmond Hill South experienced strong activity in the first half of this month.
In Riverdale (E01) transactions increased 28 per cent compared to the first half of June 2007 driven by strong condominium apartment sales.
Condominium apartment transactions also drove West Agincourt (E05) to a 24 per cent increase in sales compared to the same timeframe a year ago.
In Caledon (W28) detached home transactions led to a nine per cent increase in sales over the same period a year ago.
Richmond Hill South (N03) also experienced strong detached home sales, which resulted in a five per cent increase from mid-June 2007.
“With employment and interest rates holding steady and a 17 per cent increase in available listings compared to a year ago, it is an ideal time to take advantage of all that the market has to offer,” said Ms. O’Neill.
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Get Government Assistant for Home Renovations that Include a Rental Unit
June 18th, 2008 Categories: Ajax, Buying real estate, Pickering, Pickering Village, Real Estate News
The Canadian Mortgage and Housing Corporation (CMHC) wants to help you put a legal, rent-able suite in your home.
Looking at the possibility of home affordability being out 
of reach for some people. CMHC has initiated a Residential Rehabilitation Assistance Program (RRAP) which will pay for or help pay for renovations.
RRAP is available to home owners, private entrepreneurs or First Nations people who, adhering to local building and zoning bylaws, want to put a secondary or garden suite into their home or on their property.
The idea is to assist “ïn the creation of affordable housing for low-income seniors and adults with a disability by providing financial assistance to convert or redevelop existing residential properties.”
Before you start your renovations, check with CMHC to see if you are eligible. If you meet the conditions of the program, you can receive a fully-forgivable loan—that’s right, fully-forgivable—which may be used to cover the costs. You can receive up to $24,000 per unit.
Call me for more details or go to the CMHC web site for information about the program.
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