This is one smokinnnnnnnnnn real estate market!!!

Have a look at the numbers in the table below and you`ll see what I mean. The listings are coming on the market in great numbers, selling in great numbers, and we remain firmly entrenched in one of the strongest SELLER MARKETS in history!

The strongest segment of the market is below $375,000, an indication that sales are being driven by first-time buyers, and maybe a small does of move-up buyers getting out of condo`s while rates are low and conditions are improving in the economy.

Multiple offers are still the norm, underpricing is still the norm, and shortage of good inventory is still a problem. Time to sell – Call me 905-208-7002

ps – The weekly reports will be returning in the previous format shortly; our new service provider couldn`t work some issues out with the MLS, so it`s back to me doing the weekly overviews.

Nothing is more emotional and more highly charged than purchasing the place where you are going to raise your family, put down roots in the community, become involved in schools and other civic organizations. And to make that decision without having an advocate is nothing short of foolhardy. It is in your best interests to be adequately represented in this, the most important of all financial investments for your family’s well being. Although the home buying process varies with each person according to their specific needs, most transactions follow a general path.

To avoid the stress of purchasing a new home, secure all the information you can about a property, make informed intelligent decisions and avoid these 10 Buyer’s Mistakes:

6. More concerned with others’ opinions instead of trusting their gut.

Because buying a house can certainly be emotional, many buyers rely on the opinion of others instead of their own.  Therefore, it is important that you be armed with a practical checklist. Being prepared before you preview homes with your Realtor will help keep your search for the perfect house on track. Begin your home buyer checklist by writing down the minimum requirements you expect in a new home. You can also add some of the wish list items you would like to have but are not absolute necessities. Once you review potential homes against your list, trust your gut. Remember, this is going to be your home.

7. Choose the wrong agent to represent them.

It’s just as important to shop around for the right real estate agent as it is to shop for the right home. A wrong person leading you through this extensive process can lead to hassles and headaches. To find the right real estate agent, get referrals from family and friends. Do research online. Ask your potential real estate agents lots of questions! They should seem willing and able to answer any and all questions you may have. The more you ask, the more educated you can be to make the right decisions.

8. Think that by dealing with the listing agent they will get a better deal.

Buying a home without a real estate agent doesn’t necessarily mean you’ll save a bundle.

Many home buyers believe they can negotiate a discount off the price of the home they want to purchase if they forgo the services of a real estate agent and instead contact the seller’s realty agent or the seller directly on their own. This strategy may be successful on some occasions; however, it could also flop and potentially alienate both the seller’s agent and the seller. In some cases, the seller’s agent will not talk to you without the representation of a buyer’s agent.

9. They try to time the market or interest rates.

Now is a good time to buy – prices are down,  interest rates are low, there are lots of homes to choose from and you can bargain with sellers. If you try to wait and time the market, you are likely to lose out. Just as no one can accurately predict the peaks and valleys of the stock market, the same holds true for housing. Most likely, your guess on market timing would be wrong. But if you choose to buy now, you will not only be in the driver’s seat during the buying process, you will also reap the gains of price appreciation once you become a home owner.

10. More focused on finding a good deal than finding a good house.

A low price is not always a good value. In fact, it may be no bargain at all if the maintenance costs are prohibitive. Find out when the house was last painted and re-roofed. Ask the seller to provide copies of utility bills so you can accurately budget the ongoing cost of your home purchase. Home inspections may reveal more extensive repair work requiring greater expenditure than you anticipate. Also, if the house has a large yard, trees, a swimming pool or a spa, and you don’t have the time or expertise to do pool cleaning or yard work, find out what the current owner pays to maintain those amenities.

Nothing is more emotional and more highly charged than purchasing the place where you are going to raise your family, put down roots in the community, become involved in schools and other civic organizations. And to make that decision without having an advocate is nothing short of foolhardy. It is in your best interests to be adequately represented in this, the most important of all financial investments for your family’s well being. Although the home buying process varies with each person according to their specific needs, most transactions follow a general path.

To avoid the stress of purchasing a new home, secure all the information you can about a property, make informed intelligent decisions and avoid these 10 Buyer’s Mistakes:

1. They get penny wise and pound foolish when it comes time to make an offer.

If you are certain that you have found your dream home, don’t place an unreasonably low offer, especially if there is buyer competition. If the home truly is as dream worthy as you consider it to be, it is highly unlikely that you are the only interested buyer. So if the home is well within your budget, consider placing an offer that is towards the top of your budget in order to knock your real estate competition out of the ball park or risk losing the house.

2. They believe something better is around the corner.

Some buyers give into fears that prevent them from making a decision to purchase. These fears can manifest in different ways, one of which is “waiting for something better” to come along. These buyers will ultimately waste too much time and lose out on the opportunity to purchase quality homes. If you sit on the fence and wait, you could end up literally waiting for years. When you find the perfect home (which is only ever 85% perfect), make an offer to buy it.

3. They lack imagination when seeing home.

People shopping for a new house usually lack imagination. Generally, buyers only know what they see not the way it is going be. Some people might initially want a turn-key house, a house that is ready to be lived in, not a home where they will immediately have to begin painting and remodeling. Try to use your imagination and picture yourself and your belongings in homes you visit because you may be overlooking your dream home.

4. Focus on who is right or wrong vs. getting their home.

Imagine you found a house and decided on an offer. The seller will often counter the best offers to see who’s willing to pay more. It’s easy to get embroiled in a “right and wrong” debate and keep countering offers. Don’t expect several rounds of these counters, however. This isn’t an auction, and you wont have unlimited opportunities to raise your bid. The seller will typically snatch the most attractive counter to their counter. If you haven’t made your best showing, you’ll lose out to someone who did. Right or wrong won’t matter here. You will not get your home.

5. Listen to water cooler talk instead of their trusted advisor.

Everybody is getting exposed to news from varied sources these days. The internet can be a powerful albeit unreliable source. Sadly, many bloggers, think that because they constantly preach about how prices are crumbling and everyone will lose all their money that somehow that makes them trustworthy, like, “See I’m telling you bad news so you can trust me.” Unfortunately, your friends and colleagues pass this information on as credible and it could cost you dearly. Trust your Realtor to give you accurate information and advice during the buying process.

Stay tuned for part 1 . . .

This 2-part series looks at the 11 Worst Mistakes Sellers make when selling their home . . .

So you’ve decided to sell your home. Selling a home is stressful enough. There is a lot of “behind the scenes” action taking place that you may not know about. Contrary to public perception, your listing agent does not usually attempt to sell your home to individual home buyers. That wouldn’t be a very efficient process.

Your listing agent markets and promotes your home to the other local agents who work directly with home buyers. This dramatically increases your personal sales force. During the first couple of weeks your home should be a flurry of activity with buyer’s agents coming to preview your home so they can sell it to their clients…

Unless these mistakes are being made. . . .

7. Wait too long to get to the right price.

When you drop your price, your house is “old news.” You will never be able to recapture that flurry of initial activity you would have had with a realistic price. Your house could take longer to sell. Once your home sits on the market awhile, it is harder to get a good offers. Potential buyers will think you might be getting desperate, so they will make lower offers.

8. They don’t take the first offer as serious as they should thinking they will get something better.

It is human nature for you to want the highest price for your home. In a buyer’s market, you’ll need to determine what is most important to you–price, moving date, keeping the appliances–and get the best deal possible. That said, the first offer is frequently the best offer, so don’t be unreasonable.

9. They try to improve the property instead of lowering the price.

Smart sellers will weigh the cost of proposed improvements against the home’s market value after the repairs or upgrades are completed. If an upgrade won’t return the investment, such an improvement might not be warranted. And keep in mind, if your home is already overpriced, more improvements won’t necessarily bring the home value up in your market.

10. Focus on who is right or wrong vs. getting their home sold.

If your home isn’t selling, it’s easy to get into a battle of wills over who is right or who is wrong. It doesn’t matter what you want for your home, it only matters what someone is willing to pay for it. Every buyer wants a good deal, and every seller wants top dollar. Realtors have to walk a tight rope to balance things to try and achieve a win-win for both buyers and sellers. For example:

If you had just 6 weeks to sell your home, and you got a reasonable offer in week 3 or 4, wouldn’t you take it? Or would you risk having to pay double mortgage payments, or live apart from your family for months, etc. to POSSIBLY make 3% more? (knowing also there is a possibility you would get less). The goal is to get your home sold.

11. Try to find their next home before they sell their current home – cart before the horse.

Imagine you found the home of your dreams.  You’re all ready to move in.  The problem is you still have to sell your old place otherwise your stuck paying on two properties!  By selling first it helps ensure that you can afford the new house on time without worrying about extra mortgages to cover yourself.  Also, if you buy a home first you will most likely put a bit into the contract that says you have to complete the sale of your old place before you close on the new home.  This helps protect you from being stuck with two places.  But it doesn’t make you an attractive buyer either!