Royal LePage - Your Community Realty, Independently Owned and Operated, (905) 731-2000
Jim Reid, Broker, (905) 731-2000
New Interactive Neighborhood Website
"MARKET OUTLOOK"(SeptemberB 2006)
The "Buyer’s Market" has arrived in Richmond Hill. The ratio of Sales to Active Listings has slipped to 47.6% in central Richmond Hill, (N04).Since the beginning of 2006 in the GTA, this ratio has declined from 56.2% to 50.4%. Thus, Toronto is showing clear signs that prices have likely peaked at close to $355,000. This is a Y.T.D. increase in value of 5.6%, but unit sales were only ahead 2.8% by the end of July.
Unit sales demonstrate that a large number of people are still buying and selling properties. But, the average selling price increase may not necessarily indicate that people will pay more for the same property this year.
In fact, since renovations have mushroomed into a $billion industry, I believe that a significant portion of the price increase is represented by genuine upgrades and improvements to the homes that sold.
My basis for this belief is that there have been many more listing price reductions this year than anytime during the past ten years, (with the exception of shortly after 911).
Also, my research shows that there are a record number of listing expiries this year. Homes listed above last year’s values aren’t moving.Thus, market conditions are definitely changing. Therefore, you will need new strategies to get top value when you sell and when you buy. Jim and Lou know the strategies that will work for you!
"New - Interactive Neighbourhood Website!"
"Heritage Estates & Mill Pond Living"
We now have our own community website at:
www.heritageestatesliving.com .
This dynamic new inter-active website is for the use of you and your neighbors in the Mill Pond quadrant.
In the FREE Classifieds, announce your garage sale, sell your old boat, exercise equipment or bicycle.
In Community News, post pictures of your street party or announce a local event or meeting.
In Neighbourly Referrals, find a painter, roofer or maybe a baby-sitter.
In Recipe Exchange, share a family favorite recipe or try something deliciously new for your family.
In Organizations, you can tell everyone about your local Arts Group, Bridge Club, Bible Study, Nature Club, Walking/Hiking/Cycling Group, or even form a new Community Group.
In Hobbies and Interests, you can find others with similar interests and get connected.
There is even a monthly Neighborhood Newsletter that you can subscribe or contribute to.
In Local Resources, you might offer your professional or amateur services to your neighbors.
You can even suggest new categories, such as a Teens for Teens area if you like.Your new web site also includes lots of informative articles and connections to many handy websites. You’ll definitely want to include it in your Internet "Favorites".
As we go forward, it would be great if we could include all the current local properties for sale at this website. When you sign your MLS Listing Agreement, ask your realtor to allow Jim Reid to also advertise your new listing.
With this new web site, I hope to provide a worthwhile vehicle to help us draw even closer together. There is so much going on with each family that I’m sure you have helpful information to share with your friends in this wonderful community.Of course, the secret to the success of this site will be your level of involvement. Perhaps you can bring this site to the attention of your family "Internet techie", and discuss how your family can become involved?
"Local Real Estate Consultants"
We are your personal professional real estate investment consultants. We get your product ready to market. We target the right group of Buyers. We research the financial factors. We negotiate excellent deals.
Also, we help our clients find the best property to purchase. We have a full selection of reputable people specializing in law, mortgages, inspections, home staging, etc.
It pays to hire experienced experts.
Why not begin by calling Jim Reid for properties in Woodland Acres, Heritage Estates or the Mill Pond? Or contact Lou Recine for the Westbrook quadrant!
Office: (905) 731-2000