TEAM WEIR NEWSLETTER

MAY 2019

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May is finally here and things are starting to brighten up!

If you’re like most people, this is the time of year when you start making plans for the summer. Perhaps you’re considering a vacation to somewhere exotic or adventurous. Maybe you’re just hoping to stay close to home to spend some extra quality time with family and friends.

Whatever your plans are for the next few months, I wish you and your family a wonderful time.

Speaking of a wonderful time, this is also a great time of year for real estate. As you may have already noticed, things start to get a lot more active in the local housing market during spring and summer. There are a wide variety of properties for sale, and a lot of new buyers looking for their next dream home.

So, if you have any questions about what’s happening in the market, be sure to give Team Weir a call. I’d be happy to give you an update.

The Spring market is showing an increase in local inventory, therefore this may be the time to start your search for that special property. Active Residential Listings continue the positive trend with 935 Active Residential Listings compared to 717 Active Residential Listings in April 2018. This 30.4% increase over last year reflects a healthy real estate market in the local area, offering a variety of available listings.

The April monthly Dollar Sales for Residential Listings also resulted in an increase of 2.2% with $108,554,409 for 2019 compared to $106,263,919 for 2018. The 2019 Year-to-Date Residential number is close to a break-even level, with a 1.4% increase over last year at this time.

Continuing to be a factor in the healthy local real estate market, the Residential Average Sale Price for April is continuing the trend of the past few years, with the average price coming in at $361,848 which is an increase of 6.6% compared to 2018. The Year-to-Date Residential Average Sale Price also shows an increase of 4.6% over 2018. This, combined with an increasing inventory, is an indicator the Quinte area is a great place to invest in your future.

Residential Unit Sales for April 2019 show 300 sales, which is slightly down from 313 sales for 2018. The Year-to-Date comparison shows 2019 is currently 3.1% below the 2018 sales for the same period of time.

2019 2018 %Change
Total # of Residential Listings in April 587 532 10.3%
Total # of Residential Listings YTD 1682 1601 5.1%
Total # of Residential Sales in April 300 313 -4.2%
Total # of Residential Sales YTD 807 833 -3.1%
Total Residential Sales Dollar Volume April $108,554,409 $106,263,919 2.2%
Total Residential Sales Dollar Volume YTD $280,066,775 $276,274,970 1.4%

Your Home At A Glance

Have you ever driven up to a restaurant and been disappointed by your first impression? Perhaps the windows looked dark and gloomy, the façade was worn and unattractive or for some other reason it just didn’t look like a tempting place to eat.

It could still be a fantastic restaurant – a real gem. But, your first impression has soured your anticipation. If you still walk through the front door, it will likely be with much lower expectations.

This scenario often plays out in the real estate market as well.

Buyers drive up to a home for sale and quickly form an impression based on what they see “from the curb”. That’s why you’ll hear real estate experts talk about the importance of “curb appeal”. It’s one of the most important selling points of a property.

If you plan to put your home on the market, you want your home to look as attractive as possible from the street. Fortunately, there are many simple things you can do to improve curb appeal.

For example, you can trim shrubs and hedges, plant flowers, clean the walkway and driveway, paint the front door and garage door, and clean the exteriors of the windows. All these projects are relatively easy and inexpensive. Yet, each can have a dramatic impact on a buyer’s first impression.

Don’t be like the great restaurant that’s hidden behind an unkept façade. Make sure your curb appeal reflects the overall value of your property.

Looking for more advice on selling your home quickly and for the best price? Call Team Weir today.


Top Tips For Spring Maintenance 

Spring has sprung and according to Pillar To Post, now is a great time to get your home ready for the upcoming months. Below we share a few of their tips to get you started:

  • Winter can take a real toll on a home’s exterior. Wood, stucco and other types of siding should be checked for cracks, peeling or chipped paint, and general wear and tear. Have damaged areas repaired and repainted as needed for lasting protection.
  • Clean gutters and downspouts of any debris that may have collected over the winter. Check for any loose connections and adjust if needed.
  • Check patios and walkways for cracks and any loose bricks or pavers. These are a tripping hazard that needs to be corrected promptly.
  • If window screens were removed for the winter, make sure they’re cleaned up and in good condition before reinstalling them.
  • Walk around the property and check for damaged tree limbs and branches. If a large tree appears to be damaged, be safe and call a professional to address any issues.
  • Inspect raised planter beds to make sure they’re in good shape. Before it’s time to plant, mix in some compost and fresh garden soil to help your flowers and vegetables thrive.
  • Inspect the irrigation system for broken sprinkler heads and emitters. Also check for overspray and have the system adjusted to prevent water waste.
  • Have a swimming pool? As soon as the weather allows, have it inspected and cleaned so you don’t have to wait for service later in the season.

Not only are these tips important for the long term care and maintenance of your home, they are especially beneficial if you plan to put your house on the market. If you’re considering selling your home this spring or summer, contact Team Weir today!


For more great tips and information visit our Blog and find us on Facebook. Click here to Contact Team Weir.


The Importance Of Reading And Understanding An Offer

new mortgage rules

When you make or receive an offer to buy a property, it’s important that you read and understand every clause. It is especially important to understand any conditions or any changes that are made to the standard offer.

An offer may contain several types of conditions. The most common are “conditional upon arranging financing” and “conditional upon passing a professional home inspection.” However, there may be other conditions as well.

You should be aware of – and fully understand – all of them.

In addition, the wording of an offer may change during the back and forth negotiations that often happen. Aside from changes to the price, other clauses may be added, removed or reworded as well.

As your real estate agent, I will always explain the changes and ask you to initial them. This is done primarily to ensure you know and approve of what you’re signing.

A recent newspaper article tells the story of a buyer-seller legal dispute that resulted in a six-figure judgement against the seller. This was due, in part, to a lack of understanding of one of the clauses in the agreement.

You don’t want that to happen to you. Take the time to carefully review and understand an offer.

For more great information on selling your home visit our Sellers Series or contact Team Weir today!

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DID YOU KNOW?

  • Africa is the only continent situated in all the four hemispheres – the western, the eastern, the northern and the southern.
  • There is a heart-shaped coral reef in Australia.
  • Around 90% of the world population lives in the northern hemisphere.
  • The Greek national anthem consists of 158 verses.
  • The third-largest country in terms of area, China generously shares its border with Russia, India, Kazakhstan, Mongolia, Pakistan, Myanmar, Afghanistan, Vietnam, Laos, Kyrgyzstan, Nepal, Tajikistan, North Korea and Bhutan.

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