TEAM WEIR NEWSLETTER - MARCH 2020
In This Issue…
- David’s Update
- Quinte Real Estate News
- Why Get A Pre-Listing Home Inspection?
- Should You Worry About Market Fluctuations?
- Finding The Perfect "Kid-Friendly" Neighbourhood
- Did You Know?
DAVID'S UPDATE
Here, at Team Weir, we have tried to stay at the leading edge of technology to best serve our Buying and Selling clients. Over the years we have introduced professional staging and photography for our Sellers and electronic buyer books for our incoming military house hunters. We strive to ensure you are well looked after!
Last year, we trialled electronic lockboxes on some of our listings to provide increased security for our Seller clients … a service strongly encouraged by the Ontario Real Estate Association, although not yet mandatory. Our trial went well and we are continuing to use these new high tech boxes on our listings.
We also introduced a real estate concierge service last year, to benefit both Buyers and Sellers. This third party service provides assistance to you after a 'firm sale’ is in place but before the home actually changes hands. The provider assists with things like setting up or disconnecting utilities, finding doctors or new schools, providing government websites for health care/drivers licenses, etc. This service often fills in the gaps not provided by relocation companies.
Weir here to help de-stress the moving process!
David Weir
Team Weir members are available to complete a no cost - no obligation market evaluation if you are considering selling your home.
QUINTE REAL ESTATE NEWS
February Sales for residential properties in 2020 are up 49% over 2019. In other words, there are lots of buyers now and homes are getting 99% or more of asking price.
Active listings in February 2020 are down 17% over 2019.
These stats indicate a real supply problem which, of course, increases prices for homes. So, list now before everyone else does! And you will likely still get a closing date that meets your needs.
In addition, the significant reduction in mortgage rates that was announced last week will allow more buyers to get into the market and/or encourage buyers to spend more money on a home. Furthermore, the ‘tweaking’ of the mortgage stress test next month will also enable more buyers to enter the real estate market.
WHY GET A PRE-LISTING HOME INSPECTION?
As published by Pillar To Post, a pre-listing home inspection can uncover previously unknown problems – major and minor – allowing your sellers the opportunity to make repairs, updates or replacements as needed or as they wish.
By addressing issues before the home goes on the market, you can list a home with greater confidence about its condition. This can mean cleaner offers and a smoother transaction for both parties. And a home in better condition will normally sell for more than one with problems that could have been corrected.
Homes that are already on the market can be at a disadvantage if problems are revealed during a subsequent home inspection. Issues that you and the seller were previously unaware of could keep a property from selling at its highest potential price, when it’s too late to address them.
SHOULD YOU WORRY ABOUT MARKET FLUCTUATIONS?
You turn on the television and watch a news story about housing prices going down. Then you read an article about the housing market on the upswing again. It’s a little like being on a roller-coaster ride!
Unfortunately, the ride isn’t much fun if you’re thinking of buying or selling a home. In fact, it can be very confusing and frustrating. You just don’t know if “now” is the right time to make a move.
In reality, the housing market has been fluctuating for decades. Yet, people sell their homes every day for good prices, and just as many people get into their next dream home affordably.
When you hear news of market fluctuations, there are two important things to consider.
First, a lot of media information about the housing market is national, or at least regional. If the housing market is trending up or down nationally, remember that it doesn’t necessarily mean that your LOCAL market is doing the same. In fact, it’s entirely possible for housing prices to be rising in your neighbourhood, while they are falling nationally, and vice versa.
Second, if you’re selling your current property while buying another home, then the net effect of market fluctuations may cancel out. Say, for example, that the local market is on the upswing. You’ll probably be able to sell your current home for a good price. However, the home you purchase will likely also be priced to reflect the upswing. The same holds true when the market is down.
All that being said, there are some circumstances in which you need to consider market fluctuations when deciding whether or not to make a move. Call today for more information.
FINDING THE PERFECT "KID-FRIENDLY" NEIGHBOURHOOD
Fast forward a few years and imagine that your kids have grown up. They’ve come back to the “old neighbourhood” to reminisce. What will they remember? The playground where they hung out with their friends? The quiet cul-de-sac where they learned to ride their bikes? The park where they picnicked and flew kites?
Lasting memories are built in neighbourhoods where amenities match lifestyles. When shopping for a new home, evaluate a prospective new neighbourhood against the following 3 E’s:
Education: What resources are available in the neighbourhood to help with your child’s education? Are there schools and other services, such as libraries or art studios? How do they rate?
Environment: Is it safe? Do your kids need to cross busy streets to go to parks or to school? Are there other families with kids the same age?
Entertainment: Swimmers need pools and soccer players need a field. Are the right facilities, programs, and leagues available for your kids? Where will you play as a family?
Keep the 3 E’s in mind when choosing your next neighbourhood. You’ll start a lifetime of wonderful memories for you - and your kids.
DID YOU KNOW?
- Green is the national colour of Ireland.
- Green is the color used for night vision goggles because the human eye is most sensitive and able to distinguish the most shades in that color.
- Green has long been a symbol of fertility and was once the preferred color choice for wedding gowns in the 1400’s.
- Green was a sacred color to the Egyptians representing the hope and joy of spring. The floors of the temples were green.
- In North American stock markets, green is used to indicate a rise in stock prices, however In East Asian stock markets, green indicates a drop in stock prices.