June Newsletter

 

Potable Water Test

Including a requirement for a water test (known as potable water) within a Purchase Agreement is a condition that should always be included but currently, with many multiple offers on properties some buyers are not including this important condition without considering that most mortgage holders will require proof of potable water for a rural property.

One way to assist you in eliminating this condition while still protecting yourself when submitting a Purchase Agreement is to request the opportunity to take a water sample during your viewing and getting it checked prior to submitting the offer. Private labs can provide the results of a water test in 24 hours. You could also ask if the seller has the results of a recent water test.

For other ways to work around conditions that should normally be included in a Purchase Agreement contact me.

Speaking of water, check the story below on an amazing water experiment.

Take a couple of minutes (an amazing 6 minutes to be exact) to review a study completed back in 1999 by Dr. Masaru Emoto. (This information was sent to me by Dr. Tim Sylvester.)

In a scientific way, Dr. Emoto clearly shows that what we say to others has a great impact on them and with that our own self-talk has a great impact on what happens in our life.

I am far from an expert on Emoto’s discovery, but I believe when it comes to home buying and selling there is something to be learned in how we think and talk about what we want to unfold in our home buying and home selling experience.

I hope you enjoy this month’s bonus video on Dr. Emoto’s Water Experiment found HERE.

PS. If you are looking for a fabulous Chiropractor I highly recommend Dr. Tim Sylvester.

Take a couple of minutes (an amazing 6 minutes to be exact) to review a study completed back in 1999 by Dr. Masaru Emoto. (This information was sent to me by Dr. Tim Sylvester.)

In a scientific way, Dr. Emoto clearly shows that what we say to others has a great impact on them and with that our own self-talk has a great impact on what happens in our life.

I am far from an expert on Emoto’s discovery, but I believe when it comes to home buying and selling there is something to be learned in how we think and talk about what we want to unfold in our home buying and home selling experience.

I hope you enjoy this month’s bonus video on Dr. Emoto’s Water Experiment found HERE.

PS. If you are looking for a fabulous Chiropractor I highly recommend Dr. Tim Sylvester.

PS.  If you are looking for a fabulous Chiropractor I highly recommend Dr. Tim Sylvester.

 

Home Sales Prices Continue To Climb 

May 2020/2021 Overview

Below is an overview of the month of May in the local real estate market. The report represents freehold, non-waterfront, residential homes with numbers compiled from the Barrie & District Association of Realtors for the City of Barrie and The Lakelands Association of Realtors for Orillia and the Lake Country Area.

If you would like information specific to condos, waterfront only or commercial real estate contact me and I would be happy to answer your questions.  

Barrie

2020

 

2021

 

Change %

Selling Price (Median)

$523,250

 

$750,500

 

+43%

Average Days To Sell

26

 

12

 

-54%

# Active Listings

364

 

289

 

-26%

# Homes Sold

202

 

338

 

+67%

Months of Inventory

2

 

1

 

-50%

 

Orillia

2020

 

2021

 

Change %

Selling Price (Median)

$432,000

 

$595,000

 

+38%

Average Days To Sell

37

 

20

 

-45%

# Active Listings

138

 

88

 

-36%

# Homes Sold

56

 

77

 

+38%

Months of Inventory

2

 

1

 

-50%

 Lake Country
(Includes Orillia, Oro-Medonte, Severn and Ramara – Lakeland Association of Realtors)

Lake Country Region

2020

 

2021

 

Change %

Selling Price (Median)

$480,000

 

$630,000

 

+31%

Average Days To Sell

40

 

17

 

-58%

# Active Listings

315

 

169

 

-46%

# Homes Sold

99

 

223

 

+124%

Months of Inventory

3

 

1

 

-67%

Market Inventory

Market inventory is a reflection of how many homes sell in a month compared to how many homes are currently listed in the market. This determines if it is a balanced market, seller market or buyer market.


Buyer Market
6+ months (180+ days) of inventory.

Balanced Market
4 to 6 months of inventory.

Seller Market
Under 4 months of inventory.

At the close of May locally it remains a Seller’s Market.

 

 Pricing Tips for a Seller’s Market 

With the official arrival of summer this months, we’re still firmly in a seller’s market, making now a great time to sell your home. However, if you’re hoping to buy in the near future, you can still get an affordable mortgage and find the home of your dreams without giving up your competitive edge. Find out more about buying or selling in the current market below, plus some budget-friendly home transformations you can complete in a weekend.

There’s a delicate balance between getting the best price for your home and achieving a fast home sale. How much you ask for your home when it first hits the market can be the difference between selling fast for a great price and missing out on motivated buyers. However, the greatest threat to many home sales is a low appraisal. Mortgage lenders won’t approve your buyer’s bid unless the appraisal supports the price. Given this challenge, how much should you ask for your home?

Calculate Your Home Value

One of the first things I’ll help you do when you decide you would like to sell your home is to evaluate your home and recently sold houses similar to yours to determine a realistic home value for your property. 

Ask for the Right Price

Most of the awareness for your home will happen within the first two weeks it’s on the market. Therefore, an accurate price upfront will attract the pool of potential buyers in your home’s target price range, rather than those dependent on you lowering the asking price.

Protect Your Appraisal Value

Mortgage loans falling through due to low appraisals is one of the most common reasons a home sale falls through. When comparing your offers, buyers who are prepared to put down 20% or more or who guarantee the sales price regardless of the appraised value are less likely to fall through for appraisal purposes. 

 3 Budget-Friendly Weekend Renovations

Looking for a quick, easy, and affordable way to transform your home? Look no further! Painting, updating your home’s hardware, and rearranging your furniture can make a big aesthetic difference without making a big impact on your wallet.

Paint

Whether you apply a fresh coat of your current wall colour or mix it up with a brand new colour scheme, painting your walls can make the whole house feel newer. If you’re feeling adventurous, try adding a statement wall using stencils or geometric patterns for a bold addition to your living spaces.

Update the Hardware

After living in your home for a while, it’s easy to overlook the door knobs, drawer handles, and light switch covers. However, sometimes all it takes to fall back in love with your home is a little personalization. Just head to a local hardware store to pick out new hardware for your kitchen, bathrooms, or even the whole house.

Rearrange the Furniture

No one said something a little different has to cost money. Rearranging the furniture in your home is completely free (with the help of some strong friends) and can make you feel like you’ve moved into a whole new house.

 

Getting Ready to Buy Your Next Home

Buying your first or next home is a big commitment, but it doesn’t have to be difficult or stressful. Before you start searching for homes in your area, make sure you’re ready with these simple steps.

Check Your Credit

Collect copies of your credit report and review them for potential errors and see if there are opportunities to improve your credit score. 

Save Up

Buying a house typically requires earnest money, a down payment, and closing costs. Make sure you have money set aside to cover these costs to ensure a smooth transaction.

Get Preapproved

Getting preapproved for a mortgage will give you a good idea how much you can realistically spend on your new home. It will also show sellers that you’re serious about your offer to buy the right home.

Contact Me

Buying a home is much easier with a real estate agent by your side. If you or someone you know is looking to buy or sell a home in the next few months, give me a call! 

 

Lighthouse Opening!

It is now looking like an official ribbon cutting could be on the way in July for the opening of the new home of the Lighthouse Soup Kitchen and Shelter.   

The Lighthouse Community Service and Lighthouse Supportive Housing will serve Orillia’s vulnerable, offer a range of housing as well as emergency food and shelter, primary care, mental health and addiction service, as well as spiritual support for people who are experiencing a housing crisis.  

If you know of someone planning to buy or sell a home in the future please share my name with them.  Your referrals are such a blessing and with each sale, I continue to support The Lighthouse for the operating dollars now required to provide the services so many people need through what Building Hope has accomplished at 75 Queen Street.

“For I was hungry and you gave me something to eat.  I was thirsty and you gave me something to drink.  I was a stranger and you invited me in.  I needed clothes and you clothed me, I was sick and you looked after me,…” .  Matthew 25: 35-36

Your referrals help the vulnerable.  Learn More.

 

Food For Thought
“The fulfilment you’ve known from things you’ve acquired can’t begin to compete with the fulfilment you’ll find by helping someone else.”
Sam Collier