Should I List Now... Or Wait Until Spring?

Should I List Now... Or Wait Until Spring?

I met with three clients last week who said, "David, I know it is not a great time to sell. Should I put my property up now or wait until spring?" What's interesting is that I've found myself answering this question frequently... so, I figured it made sense to write about it as it relates to the Greater Toronto and Orangeville real estate market.

If a seller has no place to go or plans on purchasing in the future or there are other external factors that pushes their timeline out, it might make sense to wait until those answers are figured out. This is the case for any seller at any time of the year.

But if there's a real need to sell in the next six months... to me, the answer is obvious. List now.

Take the plunge, so to speak. :)

There are six main advantages for a seller to list now in December or January instead of waiting until spring:

1. Inventory - In the spring, how many other sellers will have ended up waiting as well? They may have been waiting a year or so until the market got better or perhaps just figured it was the best time to list their property. So come March, April and May, there will be that much more competition to potentially go head-to-head with. By listing now, you avoid all that potential competition. In Milton for example, there are a LOT of homes closing through builders like Mattamy, Arista, Sunvale and Montgomery Homes that will be ready between March and July, and there will be a flood of inventory as the buyers of these homes try to sell their homes in order to "move up". I predict Milton will experience more inventory (read: competition) than it's ever seen before in Spring 2009. Not particularly good news if you are trying to sell.

2. Motivated Buyers - Often many buyers will just wait until spring to start their search as well. They will just be beginning the process. Believe me... the buyers that are out house hunting during the Thanksgiving and Christmas timeframes are serious and motivated. By listing now, you will potentially get one of these buyers to write an offer on your property.

3. Mortgage Rates - The mortgage rates right now are at their lowest point in months. This is actually causing an uptick in buyer traffic and activity. If you list now, you will catch this wave of increased buyers shopping for houses (instead of Christmas gifts) because of these lower rates.

4. Buyers Confidence - Further, buyer confidence is starting to shift which is also increasing buyer traffic. The November stats from the Toronto Real Estate Board's Market Watch report show an upswing in prices in November after a very poor October, which saw a stock market meltdown and an always slow real estate market during the end of the election campaigns.

5. Accomplish Your Goals Now - When it's all said and done, wouldn't you rather have your house sold by March and April and moving on with your life than potentially just listing your house at that point in time. I love it when we accomplish our goals ahead of schedule - it's a great feeling. By listing now, you are positioning yourself to accomplish your goals sooner than later. By the way, what would happen if a traumatic life event happened in the spring and you couldn't put off your plans? Nobody knows what will happen in the future, but we do know about today.

6. Reverse Fear - Lastly, not to buy into the media's doom and gloom, but there is always risk that the housing markets could deteriorate more instead of picking up by the middle of 2009. In addition, the reality of the market getting that much better in a short period of time is remote. I doubt that just by waiting until spring, a sales price could be higher by 10 percent. In fact, it could even be a little worse if you think the economy is going to deteriorate as the automakers struggle to survive. By listing now, you avoid that extra layer of uncertainty.

To summarize, you know a great deal more about TODAY than TOMORROW, so go ahead and be proactive.

I'm curious - what is your opinion?

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Ornageville Summer Events

Well here it is again, what better time to take a stroll along Broadway (main street in Orangeville) than the weekend of Friday, July 11th and Saturday, July 12th as downtown Orangeville celebrates its heritage at the 39th Annual Founders' Fair celebrations.

This annual summer celebration takes its direction from the original Fair celebrated in 1970 and offers free fun, entertainment, demonstrations & events throughout the weekend.

Shopkeepers have stocked their shelves with delightful summer treats, downtown restaurants are highlighting the abundance of summer produce on their menus and cafes and coffee shops offer cool summer treats to satisfy your summer cravings.

I hope everyone will enjoy an Ontario summer with a stroll along Broadway and discover all there is to see and do in historic Downtown Orangeville.



Friday, July 11th - 6pm to 10pm
Saturday, July 12th - 10am to 10pm


A celebration of heritage
Visitors and residents alike are invited to celebrate the heritage of Orangeville at the 39th Annual Founders' Fair. A festival atmosphere will prevail with young and old being entertained with a myriad of activities beginning on Friday evening at 6:00 pm. Broadway will be closed from Wellington Street to First Street, and so will Mill Street, starting at 4:00 pm on Friday evening until midnight on Saturday.

Downtown shopkeepers will be offering special sales & products throughout the celebration, entertainers and local musicians will be performing on stages located throughout the downtown area, and buskers will be performing and strolling along the streets entertaining visitors of all ages.

Opening ceremonies feature entertainment on several stages
Opening ceremonies take place beginning at 7:00 with the Town of Orangeville's Official Town Crier, Betty Kading, ringing in Mayor Rob Adams to officially declare the opening of the 39th Annual Founders' Fair. The headline performer for this year's opening ceremonies is Danny Marks, an iconic rocker, guitarist, bandleader and songwriter who will keep the streets hopping until 10:00 pm.

Festival atmosphere & free Family Fun Zone on Saturday
On Saturday, the weekend gala celebration continues with our Market on Broadway, a strong man demonstration, birds of prey demonstrations and internationally recognized ventriloquist Mark Crocker performing throughout the day on our Broadway Grande Main Stage. A FREE FAMILY FUN ZONE on Mill Street featuring the Boston Pizza rock climbing wall, an exotic petting zoo, pony rides, crafts, a bouncy castle, children's musical entertainment and so much more!

Spot the Dot Penny Sale
On Saturday, shoppers will delight in the Penny Sale taking place throughout the downtown area. Pick up your "spot the orange dots" card, for only $0.25 (that's just twenty-five cents), and see if you can win one of the many items being offered by downtown merchants.

Saturday night street dance to close the festivities
To close out the festivities a Saturday Night Street Dance is planned from 7:00 pm to 10:00 pm featuring the Brokenjoe Trio on the Broadway Grande Main Stage and the Campfire Poets on the Meridian Credit Union Stage. The night sky will provide the perfect backdrop as A Different Spin entertains with their evening fire show, and the Family Fun Zone will stay open throughout the evening.

Be sure to DISCOVER BROADWAY and celebrate summer and the founding of Orangeville, with downtown Orangeville's 39th annual Founders' Fair! Bring your family and friends and enjoy the festivities.

Welcome To Dufferin County Ontario Canada

Welcome To Dufferin County Ontario Canada

Welcome to my neck of the woods. This sign should sum it up for anyone asking the question "How safe is it here". If you have any doubt about it ask any police office in the area and they will tell you the same thing. Dufferin is the smallest County in Ontario but we have some if the best folks around including Aaron Downey of the Detroit Red Wings, his hometown is Shelburne Ontario.

Tim Hortons Coming To Shelburne Ontario

Well it's been a long time coming but according to head office, a Tim Horton's store should be built sometime in 2009. The new location is at the South West conner of Hwy 124 and Hwy 89, right across from the No Frills. I don't have any other information on the store but only time will tell.

Tips to Noise-Proof your Home

The other day I had a client call me and ask the follow question "How do I reduce the noise in my house"

The way I see it, whether it's an aircraft overhead, traffic on the street, a neighbour practicing the saxophone, or your own kids at play, often our homes are not as quiet and peaceful as we would like them to be.
That’s why taking some measures to soundproof your home has lots of pay-offs. Not only will you reduce noise and add value to your property, but you will be helping to reduce the stress that excessive noise can cause.
If you’re tired of excessive noise, start by determining which areas of your home are most in need of soundproofing. Noise can be annoying when it comes into the house through windows, the basement and attic. Noise from inside your home can also be annoying to your neighbours, as well as others in your home.
But whether you are trying to keep noise from getting into your home or preventing it from getting out, if it’s anything but a simple problem it may be wise to seek the help of a soundproofing expert.
First, use this handy check list to determine what your problem areas are:

Windows

Windows are the most common way for noise to get in or out. Single glass panes and wood window frames are the least resistant to noise. Double pane glass can reduce noise by about 20 per cent, while vinyl frames can reduce it by as much as 50 per cent.

If replacing the window with a double pane glass or vinyl frames is too expensive an option, consider using a “removable” plug to block the sound coming through the window. A plug will also block light, but it will make little difference if it’s your bedroom window and the noise is keeping you awake at night.
And let’s not forget the added benefits -- the extra insulation of a plug will keep you warmer in winter and cooler in summer.

Attic
Many attics, especially in older homes, lack insulation. Adding insulation can not only help cut down on your heating bills, but it can help to soundproof your home. Materials used to insulate your home also help reduce noise.
Extra layers of asphalt roofing can also increase your home’s noise tolerance, especially to aircraft. If you live near an airport, try stapling extra asphalt sheeting on the roof rafters inside the attic. This is a cheap and effective way to reduce noise.

Entrances
In well-built homes you’ll notice that doors in a hallway don’t line up across from each other. This is to prevent sound from travelling across and through the open doors. Staggering entrances is one way of minimizing noise. Another, of course, is keeping doors closed.
Helpful hints
At least 25 per cent of a room should have some absorbent material, like carpeting or furniture, to reduce reverberation from footsteps.
Rooms located right over living areas should have some form of carpeting for soundproofing. Special carpet padding and floorings are available for use in soundproofing, but these tend to be more expensive. Often, a thick rubber padding and carpet are all you need.
One way of soundproofing walls is to add another layer of drywall. Double drywall on walls facing a noisy street can substantially reduce noise in many homes.
Never soundproof a garage when you can soundproof a basement. The cement foundation of a home absorbs noise. However, you’ll still need to soundproof the basement ceiling

Stanley Cup Parade In Shelburne & Honeywood.

When is the Right Time to List your Orangeville Home?

When is the Right Time?????

One of the most frequently asked question I get this time of the year is when should I list my home on the market? The answer is , it all depends. There are some Factors that need to be considered I have listed only 2 but the list is much longer.

1) Does your Orangeville/Dufferin County home cater to singles or couples?

2) Would your home be suited for families with school age children? Is it a detached semi-detached or town home in Orangeville/Dufferin County?

If you own a county home, be preparded to wait longer, Country sales are have been slower this year due to the US problems and the price of gas.

Of course, depending on supply and demand, if there is limited inventory in your neighbourhood, now would be good time to be in the market.

If your own a detached, semi detached or a town home in the area, the Late summer is the ideal time for sellers to list their home. The fall market is typically the seconds busiest time of the year. Inventory levels are high and demand is usually quite high. The fall market usually starts in August and ends in early November. Buyers purchase in the fall and close in early spring or early summer so they can familiarize themselves with their new neighbourhood.

According to the Toronto Real Estate Board statistics, May 2008 set a new all time record with the highest inventory of homes ever recorded.

If you are thinking of selling this year, now is the time to get ready for the fall market. Be the first one in your area to be on the market. Let's get started by having a pre sale consultation so if there are significant work to be done before listing your home, it can be completed before the end of August.

Real Estate Title Fraud - Protect Yourself

According to the RCMP, one in six Canadians will be victims of some sort of fraud in 2008. This will result in losses estimated to be close to $3 billion, while in the U.S., the FBI estimates losses there will reach as high as $30 billion.

Title insurance is necessary to help protect consumers against real estate title fraud. In 2007, more than 42,000 transactions were subjected to closer review by our fraud underwriting process. This vigilance prevented more than $23 million in potential claims related to fraud.

Although real estate title fraud is far less frequent than other forms of fraud arising from identity theft, it is a violation that can have devastating and long lasting effects on its victims. One of the great injustices about this type of fraud is that perpetrators are rarely caught.

Real estate title fraud can take several forms, and it often starts with identity theft. A basic scam can be simple: a fraudster targets a house, forges a transfer deed using a stolen identity, registers title to the property in his or her own name, forges a discharge of the existing mortgage and borrows against the clear title.

Real estate title fraud can happen to anyone. It’s up to you to get informed and protect yourself. Speak with your lawyer for more details .

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