Elli's Blog: All Categories

I couldn't help writing more on the subject of my previous post.

While some homeowners may think that attempting to sell their homes by themselves will be advantageous and perhaps even give them an edge over those who use a realtor, the reality is that most real estate lawyers do not recommend attempting to sell one's own home in today's economy. 

Reasons to use a certified realtor include that you will, on average, only get one tenth of the exposure you would if you used a good real estate agent, which means your home could take ten to fifteen times longer to sell if you were not willing to settle for a lower price and you will most likely get a lower selling price.  Buyers tend to think that if a home has spent a good amount of time on the market,…

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Here is a letter I would like to share with you. It was written by one of my clients. I think it is worth pondering upon.

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We made a big mistake when we decided to sell our home without an agent.  Our pride at seeing that “For Sale by Owner” sign on the front lawn soon turned to bitterness.

Why?

Simple.  I am not a Toronto real estate agent. We had no idea of the complexity of a real estate transaction, how many different issues and skills we were going to confront.  We were up for weeks on end trying to do research that an agent would have had at his fingertips.

Like what?

Start with exposure.  We had no idea how vast the professional real estate market network stretched.  We thought a sign on the lawn and a few internet posts and little word…

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When selecting a realtor to represent and sell a home, it is important to choose the right candidate for the right reasons. The right realtor will use many diverse methods to market a property, ensure that the Toronto homeowner’s asking price will correspond with its actual market value and be priced competitively, give tips and suggestions to the homeowner regarding how to present a home and not oversell it to prospective buyers, assess the profitability of making improvements to the property and especially make the home seller aware of his or her rights and obligations, especially regarding the contract to sell the property.

Your Toronto real estate agent will function as a mediator between the home seller and the homebuyer and as a translator who…

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Despite the optimism of last year's banner real estate year year, 2008 has opened many questions. First the popping of the US real estate market bubble makes the casual investor wonder if such a mortgage and price collapse could repeat itself in Canada. World oil and food price problems continue to make many people believe that world recession is knocking at the back door.

I have written an article in which I try to answer the question: Is there any reason for concern in the Canadian real estate market?

You can read the article reviewing the overall economic situation in more depth on my Toronto condos page.

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In May, Scotia Bank released the new housing trends for the 1st quarter of 2008. New figures show that the real estate market is cooling down after seeing phenomenal numbers in 2007. Resale of homes have fallen 15% which is down from last summer and the average resale home price in Canada had its first quarterly decline in the first quarter of 2008.

Canada also saw a decline in residential building permits in comparison to last year and the inventory of unsold new homes are trending higher. Some factors causing the decline in these first quarter numbers include the relentless weather that we experienced throughout the winter season along with limited demand for the increased supply.

Financial experts expect a 15% decrease in overall sales… Read Full Post

There are two levels to drawing in potential homebuyers: initially attracting their attention to the property through successful marketing and then favourably presenting the home. The first level is often a hurdle for owners of Toronto condos and houses wishing to sell their property as they are often unaware of how to effectively market their properties. Indeed, contrary to popular belief, it is good marketing that distinguishes a home from the hundreds of others on the market rather than a house’s unique features. The beautiful home veiled in obscurity will gather no admirers, but a well-marketed home, whose benefits as well as its features are advertised, is more likely to draw buyers.

Meanwhile, a homeowner should make use of his or her realtor in…

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I have found some very interesting housing data in a recent press release.

When it comes to laying down roots, the proverbial debate of 'the city versus the suburbs' is likely to get a little more heated, as the majority of house prices in both Canada's major urban and suburban neighbourhoods were found to have nearly doubled over the past 10 years, with urban dwellings appreciating slightly more than their suburban counterparts, according to the Urban vs. Suburban Survey released by Royal LePage Real Estate Services. The country's most impressive gains were seen in Edmonton where condominiums in both urban and suburban areas more than tripled and quadrupled in price, respectively.

The survey found that Toronto's urban detached bungalows and standard…

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In 1914, One King West was the capitol of the Dominion Bank (now part of Toronto Dominion - TD Bank). Crowds gawked as a team of horses hauled its 40-ton vault door to the site.

Today, its original Art Nouveau splendor, gold leaf paintings, horsehair-stuffed leather chairs and even its caged vault - now a private dining room and bar - are part of this refurbished testament to conservative Canadian money management in the new gilded age.
John Panagakos has lived - part-time living as he and others call it - at One King for two years.
"I live north of the city with my kids. This is my cottage; my cottage on the Wall Street of Toronto. This building is a jewel for people who work in the financial district."
The city's first condo-hotel, John says it's… Read Full Post