Mississauga Real Estate BLOG

Port Credit looking from the lake looking north

From an investment perspective those who had the bulk of their investments in the stock market had a very topsy turvey month in October. The debt crisis in Europe dominated the evening news (and still is) and stocks were loosing value more then gaining. However, real estate in Mississauga, Toronto, Etobicoke, Oakville and Brampton just kept on climbing both in numbers of sales and prices.

During the month of October total sales reported in the greater Toronto Area amount to 7, 642 an increase of 16.4% over the number of sales at the same time last year. The average selling price in October was up 8% to $478, 137.

With respect to the Mississauga real estate market total home sales were 916 with an average price of $429,033. The number of new listings on the market during the month was 1430 and active listings at the end of the month 1823. The average days a home was on the market was 24 days.

Although the inventory of homes has increased since the spring and summer the market remains a Seller’s market meaning the number of buyers looking for a home surpasses the number of homes available.

The Canadian Mortgage Housing Corporation recently released their quarterly housing market outlook which predicts that sales for the remainder of the year will remain at the same pacing with a continued edging towards a balanced market. Predictions in this report also indicate that the total number of sales and prices for 2012 will stabilize with modest increases.

While every home buyer is different, there are some common themes you’ll notice among those who are looking for a home. First and foremost, people want a house they will be glad to call a home for years to come. They want someone in the right location, at the right size, and at the right price.

You’ll find that some want something quite large, with many bedrooms. Others are looking for something more quaint — a first home, or a downsized home for empty-nesters. No matter what kind of home you have on the market — it’s important to know who your target buyers are.

This is something a great REALTOR will help you with. A good agent will make suggestions of what to do to your home (these are often simple fixes) that will ensure your home sells as quickly as possible. Staging your home is an important part. You want people to feel like they could really see themselves in the home.

These days, it’s more important than ever before to have a good real estate agent by your side. It can be tough to sell if you’re not able to stand out on the housing market. Let Lea Jensen help you sell your home. She has the marketing tools and smarts to help you sell quickly, and command the best price for your home.

It may be surprising to know, but the top 3 fixes to a home to get it ready for sale, and get top dollar on your return, are also the least expensive!

1. Declutter your home – Rent a storage space on a short term basis and start the decluttering process now. Sparse is good, not only does it give a potential buyer a feeling of spaciousness and calmness. It also allows a potential buyer to feel they can live in the home because you have made the home anonymous (removing personal photos, knick knacks). Make sure the kitchen and bathroom counters are free of any unnecessary items and personal affects and don’t forget the inside of cupboards and closets. Have you ever looked at pictures of homes for sale that are really appealing. Take a closer look and you will realize the homes with most appeal have no clutter!
2. Cleanliness – This can not be overstated! Buyers will pay thousands of dollars more when a home is sparkling clean, (not just surface clean). If it takes a week, go through room by room and clean every corner or hire a professional. Bathrooms and kitchens are especially important. Re-caulking to remove mildew around tubs and showers is vital. You don’t want potential buyers to get an icky feeling in the most important rooms in the house!
3. Paint – there is nothing better than a fresh coat of paint in a wonderful current colour. If you are not handy and precise do not attempt to paint yourself. Drips of paint and splashes are a turn off. It is important to get the advice of a professional on what are the best colours are for your home and which colours will appeal to the masses. (As a service to my clients I provide a free consultation with a decorator to help chose colours and make other simple suggestions in your home)

Don’t delay. Get started now. The market is hot and it is definitely a sellers market. Who would have thought the middle of the summer would be this strong.