Friday, September 1, 2023 / by Evelyn Lopes
Not long ago, home sellers were in their heyday, as historically-low mortgage rates triggered a real estate buying frenzy. However, the Bank of Canada shut down the party when it began raising interest rates last year.1
Now, it’s not as simple to sell a home. While pandemic-era homebuyers were racing the clock—trying to lock in a low mortgage rate and gain a foothold in the market—current buyers are much more discerning. Higher prices and mortgage rates have pushed their limits of affordability, leading them to prioritize cost, condition, and overall value.
The reality is, home inventory remains low, so most properties will still sell with some basic prep, the right price, and a good real estate agent. But owners who go the extra mile are more likely to sell faster and for a higher amount.
If you have plans to sell your home and want to net the most money possible, this list is for you. Here are our top seven strategies to attract the best offers and maximi; ...
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Tuesday, July 18, 2023 / by Evelyn Lopes- Klarine
CLICK THE IMAGE TO WATCH FULL VIDEO
Are you struggling to attract buyer attention and sell your home in the thriving Toronto GTA market? If so, it's crucial to identify and address potential obstacles that may be hampering your efforts.
In a recently published YouTube video, we discuss the five common roadblocks homeowners often encounter when trying to sell their properties. You can find this video on our You Tube Channel- The Evelyn Lopes Realty Team.
This blog post will expand on these insights to help you better navigate the home selling process.
Limited Access to Your Home
The first major pitfall we discuss in the video is the issue of limited access. A common mistake many sellers make is not providing sufficient opportunities for potential buyers to view their homes. The mantra to remember here is simple: Limited access equals limited exposure. If you restrict viewing times excessively, you significantly reduce your property's exposure to prospective buyers, which ...
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Thursday, June 1, 2023 / by Evelyn Lopes- Klarine
There’s an old adage in real estate: location, location, location. But ever since the Bank of Canada began its series of inflation-fighting interest rate hikes last year, a new mantra has emerged: mortgage rates, mortgage rates, mortgage rates.
Higher rates had the immediate impact of cooling homebuyer affordability and demand. But when the Bank of Canada announced in early March that it would put additional rate changes on hold, the country's once-frozen housing market began to thaw. Since then, Canadian home sales have bounced higher than expected.
However, many homeowners are still putting off listing. After successfully riding out the past year's turbulence, some homeowners are waiting for prices to more fully recover. Others are holding back because they are unable to port their mortgages and feel beholden to their existing, lower rates. As a result, real estate activity isn't nearly as robust this year as it might have been had more sellers listed their homes.
As eco ...
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Tuesday, May 30, 2023 / by Evelyn Lopes- Klarine
What are the COSTS OF SELLING A HOME in Ontario
Unveiling the Secrets and Costs of Selling
When selling your home in Ontario, it's important to be aware of the various costs associated with the process, so that you can budget for them accordingly. This list is extensive, you may have some, or all of them to account for, but being aware of them is the first step when contemplating a move. Let's break them down.
Mortgage Payout:
When selling your home in Ontario, it's important to address your outstanding mortgage. For most people , this is the biggest cost when selling a home. Here's a breakdown of the mortgage payout process:
First get your Mortgage Statement:
Contact your mortgage lender and request a mortgage statement. This document provides a snapshot of your remaining mortgage balance, including any applicable interest or penalties.Knowing this amount is crucial when calculating your net proceeds from selling your property. Calculating your net proceeds from t; ...
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Tuesday, April 25, 2023 / by Evelyn Lopes- Klarine
Selling your home can be a stressful and overwhelming process, but upgrading and improving your home before listing it on the market can help attract potential buyers and increase your chances of a successful sale. However, not all upgrades and improvements are worth the investment when it comes to selling your home. In fact, some upgrades may even hurt your chances of a successful sale or not yield a high return on investment. That's why in this article, we'll discuss what not to fix, upgrade, and improve when selling your home to save you time, money, and headaches.
Whether you're a homeowner, a home flipper, or a DIY (do it yourself) home seller, these home selling tips will help you increase your home's value and enable you to avoid costly home selling mistakes, make informed decisions, and get your home market-ready. If you are ready to dive into the world of selling your home and discover what NOT to upgrade and improve, then this real estate article is a must-read!
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