THIS ISSUE:REALTOR REMARKS* FREE HOME SHOW TICKETS * MARKET REPORT * SOLDS & UPCOMING LISTINGS * FAMILY DAY WEEKEND ACTIVITIES * DECORATING TRENDS * FREE WEEK IN ARUBA
The crazy market trend of multiple, firm offers and record high sale prices came to a rapid hault in April of 2017. Sellers waited for offers that didn’t come. Like a faucet had been turned off, in a matter of weeks prices of homes were selling for tens of thousands of dollars less than a season prior. Interest rates increased slightly, Toronto had implemented changes to limit foreign buyers from driving prices up, and Buyers in general were sick of getting out bid, pushing their budgets to a max on houses that for some who ‘won’ – did not appraise. The upward price trend that houses in Durham (the region in the GTA that saw the greatest change and jump in value and sales) could not continue forever, and the ‘When would it change?’ question was answered last spring.
So, what does this mean for the housing market in 2018? New rules for first time home Buyers and higher interest rates mean people are approved for less. The squeeze for affordable housing gets tighter, and if History repeats itself; when interest rates rise, prices adjust. This is what we predict will happen over the coming months. More people are keeping financing and inspection clauses in their offers- even amongst competition, and we see more Price Changes appearing on MLS listings. It’s still busy out there, but the biggest change might have to come from the psyche of sellers who expect a ‘top dollar’ from their home sale that looks much different in this new market than that of a year ago. Inventory always plays a stake in price sales, but when buying today, consumers are more cautious and patient.
The good news? If you are selling and buying prices are often relative and an adjustment does not mean a dive in home values. A pretty penny a family dwelling still costs. However, stability and market sanity is a win for all long-term. We hope to witness and are a part of a market that can satisfy both our Buyers and Sellers this coming year. If you or someone you know is looking to Buy and/or Sell, we would love to discuss this with you and help make your housing dreams a satisfying reality.
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Family Day Weekend in Durham Region: FEBRUARY 19, 2018!
The Town of Whitby invites residents to come out and join in on the FREE family-friendly activities being offered on February 19th at: Iroquois Park Sports Centre, Whitby Civic Recreation Complex, McKinney Centre, Luther Vipond Memorial Arena, and Brooklin Community Centre and Library. From 10:00am and 4:30pm residents can...[View Details]
FREE WEEK ACCOMMODATION IN ARUBA:
One bedroom walk-out bungalow to the pool, in a gated complex. View the Contest Rules and Regulations below.
1. INCORPORATING NATURE INTO YOUR HOME Think natural elements like wood, marble or concrete. In every room incorporate a nature inspired texture- whether it be a large statement, accent piece or simply a plant!
2. THE KITCHEN AS A LIVING SPACE It’s where family and friends come together, a favoured gathering space. Why not make a kitchen unique and personal?
3. ENCAUSTIC TILES (Different colours of clay used in one tile) Interesting, beautiful and a myriad of design styles. Can be used in kitchens, bathrooms, around fireplaces, on walls or floors!
4. MATTE FINISHES Specifically in black and white throughout the home whether it be in the form of light fixtures, tiles, flatware- bringing both sophistication and a casual feel to your home.
5. DECORATING WITH CHROME It’s coming back in hardware, lighting and accessories (like it or leave it).
6. SOFT EDGES Soft edges, arches and curves in home design and with accessories and furniture.
7. BOLD COLOURS Take a meander through your local Home Sense and you will see bold colour everywhere! Are you ready for the change? Sherwin Williams colour of the year linked below: https://youtu.be/WDHg6w4poKs
8. PAINT IT OUT Walls and trim all the same colour, but switch out the finish of baseboards or crown mouldings with a bit more gloss to make things pop!