COVID-19 and Real Estate – What’s Happening

It’s day…I’m not sure what day we’re at now – with our new world and life of social distancing.

It’s been a crazy few weeks, and things are changing and coming at us at a pace we’ve probably never experienced before. From so many things being closed or shut down, to having to learn how to work from home along with keeping our kids safe – and also making sure that they are continually learning, to caring for and keeping in touch with parents and family, sometimes only virtually. These are definitely trying times. It is a time of uncertainty, worry and, as we’ve all heard so many times, so unprecedented.

I just wanted to let you know that real estate in Ontario is continuing to carry on. Realtors and the real estate industry were deemed an essential service as many Canadians still need to move or sell homes during this time.

Real Estate and COVID-19: What you need to know

Real estate has been able to adapt like many other business. Here are some things that have been implemented:

  1. Public Open Houses have been stopped; however, virtual open houses are the new normal. An agent selling a home will still be able to host open houses through platforms such as Zoom, Facetime and Facebook Live.
  2. Conducting private tours for agents and their clients online so that they can view the home and ask any questions they may have.
  3. For in-person showings, making sure there are no double bookings to view homes (only one client in at a time).
  4. Prospective buyers should keep the number of viewers to a minimum. This is not the time to bring the kids or mom and dad to look at homes with you.
  5. For showings, sellers are required to leave all inside doors open (e.g. closet doors, pantry doors) and rooms accessible to limit the amount of outside touching that takes place in the home.
  6. Providing gloves, hand sanitizer and wipes for properties listed for sale to make sure the property stays clean.

These are all things that have been implemented, but if you do NOT need to sell your home at this time, I would recommend putting the sale of your house on hold for a while. As there are fewer buyers on the market right now, selling your home might be a bit more challenging.

On the other side of things, if you are looking to buy…this time of crisis might work to your advantage.

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Low inventory: what does this mean for Buyers & Sellers?

If you’re contemplating buying or selling property and have heard the term “low inventory,” you may be wondering exactly what that means to you.

Low inventory – what does this mean for Buyers & Sellers?

Inventory refers to the number of listings currently for sale. There are several factors that contribute to low inventory.  Seasonal influences are one.  Generally the winter months see a lower number of homes listed. Other factors include: the economy, consumer confidence, interest rates, and employment rates.

Continue reading Low inventory: what does this mean for Buyers & Sellers?

Know the Numbers!

I always find a major factor that stops people from being able to purchase a home or a property is the downpayment. Costs of homes in the GTA are at an unreachable level for many – or at the most part – people are stretched to their limit trying to afford housing and balance all of life’s expenses. Here are the numbers and the facts regarding your initial downpayment. Arming yourself with information is the first step to achieving the goal of home ownership.

downpayment

How much do you need? Not surprisingly, most Canadian homebuyers purchase a property with the absolute minimum downpayment. The thing is, the minimum can vary, so you want to be sure you know how it’s calculated.

Will you live in the home? If the house will be owner-occupied, then you need 5% down for the first $500,000 of the purchase price, and 10% for any amount over $500,000 up to $999,999. If the purchase price is $1,000,000 or more, the minimum down is 20%.

Continue reading Know the Numbers!

What a weekend!

The 2nd Annual Elizabeth Gardens Community Yard Sale on June 16 was a huge success.  With a total of 24 homes participating this year, the crowds that came by were much larger than the previous year.  Over 20 directional signs were put up around the neighbourhood – and maps were posted on https://gsalr.ca/ and the Facebook community page.

yard-sale-balloons
We got lots of positive feedback from the participants that the sale was a great success. We also received some great suggestions and interest to participate next year.

It was great to meet so many of you and the weather held up nicely for the morning.  Please watch out for information on next year’s sale in the mail – and spread the word to your neighbours.  We can make this a huge annual event.

Realestating.ca is proud to sponsor this event to help the community.  Elizabeth Gardens is definitely an amazing neighbourhood with great people.  It’s truly a great location and community.

Please keep Realestating.ca in mind if you have any questions regarding buying or selling a property.  If you have friends or family that will be looking to buy or sell – please remember to pass my name and contact information on.

Looking forward to next year!

Join us this weekend!

The 2nd Annual Elizabeth Gardens Community Yard Sale is going on this Saturday from 8:00 am – 1:00 pm with over 20 homes participating in the neighbourhood!

elizabeth-gardens-yard-sale

It looks like it’s going to be a beautiful morning – come out and explore the neighbourhood while doing some treasure hunting! There are a lot of homes for sale in the neighbourhood as well! Come take a look and discover this beautiful area!

Elizabeth Gardens is minutes from the lakefront in South East Burlington and minutes south from the QEW and Burloak exit. It’s an amazing neighbourhood with many types of homes mostly built in the 1960’s – and lot of re-developed homes.

Hope to see you out this weekend!