How Much Do Toronto Homes Really Cost?

Buying a home? Click here to search all homes on the MLS 
Selling a home?  Click here for a free home value estimate. 
Call us at (416) 438-2536 for a FREE home buying or selling consultation
Hello everyone, welcome back. Today we're talking about the latest headlines in Toronto that claim the average home in Toronto costs $1 million. Where are these statistics coming from? We're not quite sure, but we do want to provide you with the real average prices in different areas of Toronto, and it should help to explain how people are coming up with that figure.

In West Toronto, from Steeles down to the lake, the average price of a home is $534,157. The highest priced neighborhood in this area is Stonegate Queensway, with an average price of $778,000.
In East Toronto, from Victoria Park to Rouge River, the average price is $512,721. The highest priced neighborhood is South Riverdale, where the average home costs $709,754. 
Finally, in Central Toronto, with Differin to the west, and Victoria Park to the east, the average price is $757,272.

The highest priced neighborhood here is Lawrence Park North, where an average home costs $2,115,887.

We hope this puts a clear perspective on the recent news. While most areas in Toronto are priced well below the $1 million mark, there are neighborhoods, like Lawrence Park North, where the average price is so high, it brings up the averages of the other neighborhoods.

If you have any questions for us, we would be glad to help out. Give us a call or send us an email, and we will be in touch soon.

Some Common Misconceptions About Real Estate

 Buying a home? Click here to search all homes on the MLS 
Selling a home?  Click here for a free home value estimate. 
Call us at (416) 438-2536 for a FREE home buying or selling consultation
Many home buyers and sellers think that real estate agents only want to sell a home as soon as they possibly can, so that they can get paid sooner. While we can't speak for every agent out there, we can say that at the Aldo Udovicic sales team, we want to get you the best possible deal, but on your timeline.

We have a system that allows you to take up to a year to find the perfect property at the best price for your family. We are now selling homes to the 2nd generation of our clients, and our goal is to become your family's Realtor of choice. Your best interest is the only thought that comes into our head as we work with you to get your ideal home or investment property. 

If you are thinking about buying or selling, let us know. We have some helpful tools we'd like to share with you, and can't wait to tell you about them!

When Should You Put Your Toronto Home on the Market?

Buying a home? Click here to search all homes on the MLS
Selling a home?  Click here for a free home value estimate. 
Call us at (416) 438-2536 for a FREE home buying or selling consultation

Today I am speaking to anybody who has thought about selling their home. We want to talk to you about getting your home ready for sale this spring, during the busiest selling season of the year in Toronto. We have some great tips for you today to help get you into the right mindset as a seller, and to help you make your choice of who you want to sell your home.

First, here are some tips for sellers:

• Get into the right mindset: When you decide to sell your home, it's no longer your home. It is an asset that you are trying to sell for the highest possible dollar amount. 
• Think of your home sale as a business transaction: Your memories will always be with you, but the physical space of the home often needs to be altered or completely changed so it can appeal to the highest possible number of buyers

Once you've gotten into the correct mindset, it's time to make the decision of who you want to hire to sell your home, if you want to hire anybody at all. Why should you consider our team? Well, aside from our vast experience and knowledge of the Toronto real estate market, we have a checklist of 209 items that are involved in selling your home. It sounds daunting, but it really isn't.

We would love to sit down with you and go through the list, showing you how we work harder to get your home sold. You can put your home in the MLS or in the newspaper yourself, we have hundreds of different marketing avenues to get your home sold for a good price. 

Finally, one of the biggest decisions you will make when selling your home is its price. Each home is different, and we want to leave the decision up to you. While we will provide you with plenty of data and examples of what comparable homes sold for, we leave the decision of where to price all up to you. 

We would love to share all of this cutting-edge information with you. If you have any questions at all, feel free to give us a call or send us an email. Now is the time to make your move if you are looking to get settled in by this summer. We look forward to hearing from you soon!

Should You Wait to Sell Your Toronto Home?

Buying a home? Click here to search all homes on the MLS

Selling a home?  Click here for a free home value estimate. 

Call us at (416) 438-2536 for a FREE home buying or selling consultation

Today we address a widespread misconception many homeowners are fooled by: that it's better to wait to sell your home when the market is "hot." In other words, many homeowners think it's better to wait until there is a frenzy of buyers in the market making multiple bids for homes that really aren't worth the asking price. 

The problem is, in most cases, those same sellers become buyers themselves. This means they have to compete with other buyers to get the home of their dreams. Because of this, the best time to sell is not necessarily when the market is hot. Indeed, the best time to sell is when you are best prepared and the numbers make sense for your situation.

In the Toronto area, some neighborhoods are currently shifting toward a balanced market and many homeowners are sitting on the sidelines waiting for the next frenzy of buyers. You don't have to wait to get the most value out of your home - you can sell your home for a great price in today's market if you act now. If you do your homework and get some good advice on how to price your home and what improvements need to be made, you can put your home on the market with confidence. 

As always, we are here to help you make sound financial decisions when it comes to buying and selling real estate. Give us a call or shoot us an email - we'll help make your Toronto real estate experience a success.

How to Never Lose Money in Toronto Real Estate- 3 Key Strategies

Buying a home? Click here to search all homes on the MLS

Selling a home?  Click here for a free home value estimate. 

Call us at (416) 438-2536 for a FREE home buying or selling consultation

Toronto Real Estate Will Always Have Ups and Downs

But there are 3 key strategies that will ensure you never lose money in Toronto real estate. Regardless of market trends, profitable homeowners and investors have several strategies that you can learn and use. 

1. Your home is an investment- and should be treated accordingly. Ultimately your home is a product you buy, use, and hopefully resell for a profit. 
2. Only make improvements that add value to your home. Don't waste time and money on curiosities that either add no value or decrease the value of your home. For more advice on the best improvements you can make to your home, click here.
3. Sell during the best local conditions. We know it can be difficult to wait sometimes - you've found the perfect home and want to get out of your current one. It's important you don't start your search until the market conditions are ideal. You want to make money on your home and the only way to do that is when the market is strong for sellers.

So if you know you want to sell your home, especially if you need to get into your next property by the start of the school year, it's critical to make your move now.

We'd love to meet with you, review the current market value of your home, and see if now is a profitable time to sell your home. You can also request your Free Home Value Report right here on our site. Thanks for watching!

3 Reasons to List Your Toronto Home for Sale in the Next 60 Days

Buying a home? Click here to search all homes on the MLS

Selling a home?  Click here for a free home value estimate. 

Call us at (416) 438-2536 for a FREE home buying or selling consultation

If you have been watching the Toronto real estate market lately, you know that demand for homes is off the charts. We're currently at a 52% market absorption rate, which means we have low inventory. 

So today we want to give you 3 reasons why the next 60 days is critical if you plan to sell your Toronto home:

1. Demand:
• We have a very low inventory and the demand for new homes is enormous. House prices are going up at an average of 10% a year, but that rate can't be maintained forever. It's better to take advantage of the record prices at the rate they are going for currently.
2. Less Competition:
• For now, that is. As we move deeper into the summer months, more and more homeowners will be putting their houses on the market. It's important to act soon if you are thinking about putting your home on the market. Right now we have a very low inventory so buyers are going to continue to fight over homes that show well. This will mean better offers for you, possibly even multiple offers.
3. Great time to Move Up:
• There has never been a better time to move up from your current home into a better one. Homes are appreciating at a 4% rate this year and I predict them to be near 8% by the end of 2015. As interest rates and prices go up, your buying power goes down. If you want to move up to a larger, more expensive home, now is the time. The truth is nobody can really predict what the housing market will do in the future. All we can do is tell you that we are sure now is a great time to make a move.

If you have any questions about the Toronto real estate market or want to learn more about your options, please give us a call or email us today. We'd love to help you.

Toronto Real Estate: Appropriately pricing your home

Buying a home? Click here to search all homes on the MLS

Selling a home?  Click here for a free home value estimate. 

Call us at (416) 438-2536 for a FREE home buying or selling consultation

Why are homes incorrectly priced?

Often I find sellers making the crucial mistake of incorrectly pricing their home. Usually, this is the result of poor advice from an agent, or the seller has misguided notions about starting with a high price. Drawing from my extensive experience in real estate, I can tell you first-hand that starting with too high of an asking price will derail your aspirations of getting top dollar for your home.
 

How do you decide the appropriate price range?

A fundamental rule of home selling revolves around the fact that most buyers in today’s market will search for homes online, and are inherently attracted to homes that are appropriately priced. So how does one determine the proper price range that is conducive to the preferences of potential buyers? With the vast majority of buyers looking for homes through online databases, homes are usually grouped within certain price range brackets. Therefore, the best strategy for sellers is to perform either a competitive or comparative market analysis, which will then help to establish the optimal price range for a seller's home.
 

5 Reasons to Price Your Home Attractively

1. Attract more buyers – With your home listed in the optimal price range, it allows you to garner the most attention and speculation from prospective buyers. As more buyers consider your home, the more offers you will receive, which ultimately gives you the greatest chance for getting top dollar on your home.
2. If priced incorrectly, buyer activity will become stale – With a starting price that is unappealing to buyers, your home will become stagnate with little interest. Buyers will perceive your home’s prolonged time on the market as a red flag indicating potential problems or issues with the home that make it undesirable.
3. Over-priced homes benefit competition – Naturally buyers will shop for homes in a comparative manner. If your home is priced wrong, buyers will gravitate towards other homes that are more ideally priced. By allowing this to happen, you have effectively helped sell someone else's home.
4. Lacks velocity – Listing your home with a starting price that is above the optimal range will diminish the presence of your home on the market. Starting high and then reducing your asking price does not enhance the appeal of your home. Consequently, your home will not have any “velocity”, or noticeable impact on the attention of buyers in the market. 
5. Appraisals will affect the transaction - Inevitably, your home will be subject to an appraisal so that its overall value can be determined. This is important to remember because if you manage to sell your home for a higher amount than it is actually worth, the appraisal will reveal this and you will lose out on the transaction. Avoiding this situation simply demands that your home is priced at an amount that corresponds to its actual value.

In closing...
When your home is priced attractively, staged correctly, and marketed aggressively, you maximize your home’s chances of selling at top dollar. Always remember the importance of price as a determining factor for your home’s overall closing value.
 

Once again, thank you for joining me on my video blog and stay tuned every two weeks for further updates and tips about real estate and the current market conditions in the Toronto area. Always feel free to contact me with any questions you have about your home’s value or the market.