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The Equity in your home is like any other investment - it needs to be monitored. Homeowners should have their Equity evaluated once a year.
Now might be the perfect time...
Toronto Real Estate Board President Mark McLean announced that there were 12,870 home sales reported through TREB’s MLS® System in May 2016. This result represented a new record for the month of May and a 10.6 per cent increase over the same period last year.
In contrast, the number of new listings was down over the same time frame by 6.4 per cent. The decline in listings was experienced in both the low-rise and condominium apartment market segments.
“Whether we’re talking about existing homeowners or people looking to purchase for the first time, there is no shortage of buyers in the marketplace today. So, while the record number of home sales through the first five months of 2016 is not necessarily surprising, it does sometimes mask the larger story in the GTA: the shortage of listings, which has resulted in strong upward pressure on home prices,” said Mr. McLean.
The MLS® Home Price Index Composite Benchmark was up by 15 per cent year-over-year in May 2016. Similarly, the average selling price for all home types combined was up by 15.7 per cent over the same period. Low-rise home types, which remained in short supply in many GTA neighbourhoods, experienced the strongest price growth.
“Widespread competition between buyers of singles, semis and townhouses across the GTA has underpinned the robust annual rates of price growth experienced so far this year. With this said, however, it is also important to understand that tighter market conditions for condominium apartments have resulted in price growth well above the rate of inflation in this market segment as well,” said Jason Mercer, TREB’s Director of Market Analysis.
TORONTO�S REDPATH WATERFRONT FESTIVAL
Get ready to enjoy exciting times down at the waterfront!
Get ready for three days of entertainment along the Toronto Waterfront and at HTO Park between July 1st - 3rd. This year includes Canada Day celebrations and an incredible fireworks display over Lake Ontario!
This action packed Redpath Waterfront Festival offers an array of live music, dancing, great food and other family friendly entertainment - there really is something for everyone all weekend long!
If you’re a dog lover, you’ll definitely want to check out the Ultimutts Stunt Dog Show with non-stop tricks from rescue dogs.
Finally, make sure you take in the grand finale Parade of Sail on Sunday where all the festival ships and local vessels sail thorough the Toronto harbour from west to east. Hope to see you down there!
BUYING A HOME AWAY FROM HOME
There’s something special about owning your own little getaway.
Owning a vacation property would be a dream come true for most of us! Here are a few important points to consider if you’re thinking of purchasing your own little piece of paradise:
Motives - Determine whether you’re looking for a spot to enjoy with family on the weekends, an investment property that you can rent out or a retirement retreat.
Income - Renting out the property when you’re not using it makes great financial sense. Location is critical for renters so make sure it’s in a high demand or up-and-coming area.
Location - Figure out how far you’re prepared to travel and whether or not you need year-round access. Once you’ve decided on a possible location, spend some time there before you commit.
Numbers - Looking for a vacation home is exciting but it shouldn't be an impulse decision. Make sure you thoroughly go over all the financials just as you would for your primary residence and don’t forget to include maintenance costs.
Co-Ownership - Purchasing your new getaway with friends or family means you can share the upkeep and expenses. Just make sure you agree on everything from day one and approach it like a business so you can spend your time relaxing instead of arguing.
Fixer Uppers - Renovating a “diamond in the rough” is a great option as it allows you to add your own personal touch. Major renovations often require permission though so make sure you’re familiar with local zoning rules and regulations.
Buying a home away from home is a huge decision so do lots of research, get your finances in order and seek professional advice before taking the plunge. If you’re considering a few different locations or if you have questions regarding financing, please don’t hesitate to get in touch.
HOW TO BRIGHTEN UP A BASEMENT ON A BUDGET
Your basement doesn’t have to be a dark and dreary spot anymore.
Low ceilings, limited light and general dreariness can make the basement a hard spot to hang out in. Here are a few ways to brighten things up in this often dark and cramped looking space:
Fresh Coat - Paint the walls a light shade and ceilings even lighter to give the illusion of height.
Lighten Up - Use various lighting sources layered at different heights including wall sconces and lamps to brighten things up.
Mirror Mirror - Place mirrors across from your basement windows in order to maximize the effect of natural light.
Floored - Don’t break up the basement by choosing different flooring materials. Pick solid, continuous flooring so that the space will appear larger.
These are just a few ways to transform your basement from dark and dreary to bright and beautiful. All it takes are just a few simple adjustments and before you know it, your basement will become one of your most popular hangouts!
NEVER LOSE YOUR KEYS AGAIN
A Bluetooth tracker can quickly & easily help you recover lost items.
You know that feeling of rushing out the door only to realize you can’t find your keys! Instead of wasting valuable time frantically tearing the place apart, you’re now able to track them digitally.
Tile allows you to simply stick a tag on your keys or remote for example so you can keep track of their whereabouts through the Bluetooth functionality on your phone. If your phone goes missing, you can use the tracker to ring it even if it’s on vibrate!
Tile really comes through if the missing item is out of range as it’ll automatically connect with other users who are close by. If someone else's phone finds it, you'll be privately notified of its location. It’s like a community-based electronic lost and found!
Are you sick of scouring the paper and MLS sites looking for homes? Tired of playing telephone tag with agents only to hear the home's already sold? Sit back, relax and let us do the work for you! Just visit The Johnson Team website and check off the features you're looking for. Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home.