Wednesday, April 25, 2018

You Were Asking: Spring Has Sprung

Spring Has Sprung

With all of the emphasis put on curb appeal and first impressions when selling your home, it's important to remember the back yard. Many families, especially those with young children, spend a lot of time there during the summer months in particular, so it's important to make the rear yard an appealing place; a place where families can kick back and relax. 

Most of the work is the same as that done on the front. Mow the lawn, pull weeds, keep garden areas neat and rake leaves. Put away lawn mowers and other garden tools. Make it easy for potential home buyers to view and walk around. 

If you have the space, create conversation areas with patio furniture, highlighting various areas, but make sure the furniture is clean and in good condition. Otherwise, all people will notice is furniture that's past its prime. 

Show off areas that are perfect for the kids to play, but keep toys to a minimum, especially if you have a small back yard as the effect will be a cluttered look. 

If you have a deck, fix and loose boards or rails and throw on a coat of stain. Make sure the pool and surrounding areas are also clean and in good repair. 

Friday, April 6, 2018

Market Update: Market Conditions and Summer Forecast

Market Conditions and Summer Forecast

It’s a different market this year.  The January start-up seemed on track and then we watched carefully as some of the early deals fell apart due to the bank’s additional safety measures to tighten the lending rules.  

Sellers and buyers seem to be doing quite the dance this year.  The inventory coming on is still showing signs of overpricing, while the buyers are just not ‘buying’ the ‘hold offer’ strategy.  Cautious is the tone out there, and, to be honest, coming off of last year’s pressure cooker of a market, I, for one, cannot blame a buyer for the pause for thought methodology in purchase.  

Buyers are getting an opportunity now to go back to look a few times over, often weeks on the market homes which sold last year in a seemingly nano second. It’s a back to basics market for the most part.  Now, homes have to be ready to hit the market and the buyers who are looking are being a lot more critical.  We’re even seeing some homes with conditional on sale offers.  That hasn’t been seen in a long while.  

As in any market, our advice is yes, to be strategic, but, really educate yourself.  We are still being asked if it is smart to rent.  It depends, is the short answer.  What stage are you in your life?  What are your goals?  Happy to help.

Tuesday, April 3, 2018

March Stats Recap

A tale of two cities….

The last 31 days in Burlington has made quite a difference, as we eluded last month we felt a significant shift in the Spring market. Off to a slower start than usual, but, spring has sprung! With an 8% increase in the overall sale price across the City and an average more on par with years passed. Millcroft continues to be an area of activity with 77 sales in the last 31 days! Buyers seeking Roseland have found a quick turnover with an average of just 14 days on the market and a mere 16 sales which caused many Sellers to see sales of full asking price or more.

In Hamilton, the numbers tell us a different story… the average sale price has fallen 11% from last month. The positive news? It’s still well above the 10 year average and, has not fallen below the average from this time in 2016, before the big boom last year. Fairly on par for days on market but, a significant surge in listings and a 60% turnover of inventory. Likely noted by Buyers who are purchasing at 100% of asking, on average. Downtown and surrounding areas are booming with the average sale 102% of asking… with Beasley, Corktown, Lansdale and Stinson reaching as high as 106%!


How long will the trend continue? It’s hard to say… typically we see rates plateau in April but, with a late start we may see Spring even beyond the May long weekend. The long and short of it? If you’re thinking of selling… don’t wait until Summer if you want to strike while the iron’s hot!