Current Statistics Indicate A Strong Sellers Market…“The spring market is here as evidenced by the brisk sales numbers in March. We are seeing a continued influx of buyers who are able to work remotely and families looking to move from attached units to detached properties coming to Niagara. Although supply has also increased, demand has outpaced it.” Said Terri McCallum, President of the Niagara Association of REALTORS®.
Why is there such a large jump in sales compared to last year?The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average or median price measures and also tracks the actual number of sales within each month. With the announcement of the global pandemic in March 2020 came a virtual halt to real estate sales from March to May of 2020. The real estate market is seeing more sales as compared to last month even with record low inventory levels.
Is Now The Time To Sell?Our sellers are getting mind-blowing prices for their homes! If you had thought of downsizing in the next 1-5 years, now may be the time to re-evaluate your plan. It can seem so overwhelming and a bit intimidating. The Expertise of The Salisbury Team has tried and true systems in place to help you navigate this ever changing market. I can offer helpful guidance based on you needs and ideas! Give me a call…
So, let’s take a look at how Niagara and your municipality performed compared to March of 2020!
It is starting to warm up and signs of spring are everywhere! Crocuses and daffodils are blooming, the grass is beginning to grow and the days are getting longer.
It just might be time to get out the golf clubs!
Easter 2021 – Another Covid Modified Holiday!
Last Easter, as we cancelled the usual easter traditions, I would never have guessed that we would be celebrating another Easter Weekend under strict COVID protocols. Many of the usual celebrations and Easer Egg Hunts have been cancelled, however some creative people have come up with ways to safely create new versions of long held traditions.
Check out this Link to 2021 Easter in Niagara!
Why Does the Date of Easter Change Every Year?
Here is a Link to Everything Easter on Wikipedia!
I hope you enjoy this Easter long weekend!!
Warm St. Patrick’s wishes!
“The Luck Of The Irish”
Every year, the Chicago River in Chicago, Illinois, is dyed emerald green. The tradition has been going strong for over five decades.
Legendary Irish Pubs – Bizarre Facts!
Here is a link to 10 things you may not know about Irish Public Houses… From 24-hour opening, to corpses, dog shows to legally drinking in a Pub outside of legal drinking hours!
Have a sham-ROCKIN’ Day!
Current Statistics Indicate A Strong Sellers Market…
I’m not sure what the Groundhog said, but the Spring Real Estate Market is ramping up early!! When we compare the February 2021 real estate statistics for the Niagara Region to last year, we can see a 21% increase in the number of sales and houses being on the market nearly half the amount of time! With record low inventory, residential home sales continue to remain strong.
What is HPI?
The MLS® Home Price Index (HPI), tracks price trends far more accurately than is possible using average or median price measures. The characteristics of the HPI composite benchmark in Niagara is a home between the age of 51 to 99 with three bedrooms and two bathrooms. The overall MLS® HPI composite benchmark price for the Niagara region was $578,400 in February 2021. This was an increase of 31% compared to February 2020.
Is Now The Time To Sell?
Our clients are getting mind-blowing prices for their homes! If you had thought of downsizing in the next 1-5 years, now may be the time to re-evaluate your plan. It can seem so overwhelming and a bit intimidating. The Expertise of The Salisbury Team has tried and true systems in place to help you navigate this ever changing market. I can offer helpful guidance based on you needs and ideas! Give me a call…
So, let’s take a look at how Niagara and your municipality performed compared to January of 2020!
Daylight Savings Time Is Here!
Every year Daylight Savings sneaks up on us and this year is no exception. It seems like I just sent you the head’s up on changing you clocks back!! So, with that in mind, we’re here to provide you with a reminder to help ensure you aren’t the person that forgets to change their clocks and has a tough start to their day.
On Saturday evening before you go to bed on March 13th, don’t forget to set your clock FORWARD one hour.
This is also a great time to consider some basic but important maintenance.
Changes On The Horizon!
The twice-a-year flip-flop moved closer to its demise last year after provincial governments in Ontario and British Columbia pledged to simply make Daylight Saving Time permanent, and after Quebec and New Brunswick hinted at doing the same. Despite all of that, the changeover will proceed as normal on Sunday, March 14, because those provinces are waiting for each other and their nearby states to do it all at once.
What Happens When I Decide It Is Time to Sell My Home?
Last week we sent out a new listing notice for 207 Niagara Street. We thought it might be interesting for you to have an idea of what gets a listing from “I think I want to sell my home” to Closing day and thought we would use this property as an example!
The first thing you should do is call me! I will research the market, and if COVID allows, walk through your home to establish a competitive listing price for your home. We will talk about your expectations and our 6-Day Plan to sell your home for the best possible price.
We work with YOUR schedule to set up photography, showing schedules and preferred closing dates to name a few. Our team works with you so that you get all of your concerns and questions answered throughout the entire process.We will have questions for you as well as we complete all the paperwork ensuring the process proceeds smoothly.
The Listing is LIVE!
Let’s use the example of 207 Niagara Street. You home gets listed on MLS on Wednesday evening. We also use social media and our client base to spread the word! In this market, as soon as the listing goes up on MLS the showing appointments start booking up as was the case with Niagara Street. We use a booking platform that prevents double booking and each agent has a scheduled timeframe for access to the home, as well as strict COVID protocols to follow so that you and your family as well as those viewing your home are kept as safe as possible.
If for any reason you need to restrict times when the home can be viewed, no problem!! We simply block off those times in the booking system.
Who Went in My Home?
Over the course of 4 available days for viewing, Thursday – Sunday, 207 Niagara Street had over 60 viewings!! The booking system tracks that for us as well!!
We know who saw your home, when they saw it, and get feedback regarding their experience. Using this information we have the ability to email all, some or one of these agents as the process continues. The system issues each agent their own access code to be used for access to your home so you do not need to worry about the lockbox code getting into the wrong hands.
Our proven 6 day plan allows anyone looking for a home similar to yours time to see the listing once live on a Wednesday, view the home before and during weekend, and at times you want to make available to do so. The prospective buyer then has the time to consider the offer they want to make, and submit their offer on Tuesday for us to discuss all of the offers and present them to you, the seller.
Utilizing this plan, the home on Niagara Street had 6 competing offers by our offer presentation time on Tuesday. When looking at offers, we consider price, closing dates and any conditions within each and explain the pros and cons of each. We will advise you, however the final decision is ultimately up to you.
You Have Accepted an Offer, Now What?
Congratulations! Your home has been sold… In the case of 207 Niagara Street it sold for $435,000.00. That is $55,100.00 OVER ASKING price using our 6 day plan!
There are so many little things to tend to now and where to start may seem a bit overwhelming. That is where our team kicks in. Our Closing Coordinator, Leslie Bickle has you covered and will provide you with information to help make sure you have all you need to make this move go as smoothly as possible. Our concern for your continued happiness does not end at closing day. We are here for you and will check in on you every now and then to make sure of your continued satisfaction with your decision.
Is NOW the time for your to sell Your Home??
As you can see from our example of 207 Niagara Street, through the monthly newsletters and stats, or through general real estate talk around the dinner tables with family and friends, sellers are getting absolutely mind blowing prices for their homes right now!! We do not know how long this will last, so it might be a good idea to think about shortening your timeline. Please call us to discuss your plans and let us help you make the best decision for you and your family. We will never pressure anyone to make a move they are not ready to make.
When YOU are ready, call us. If someone you know is ready, have them call us as well!
Valentine’s and Family Days are here again!
This is a great time to take a step away from on-line meetings and learning and working from home. Turn off your screens and spend some time noticing the best parts of those you love. Go for a walk, cook together, play a game and remember to share why those you love mean so much to you. It is easy to take those we love for granted, especially when we are spending nearly every waking moment with them!
Want to know “The Best Ideas To Celebrate Valentine’s Day 2021 As A Family”? Just click the picture to read the article!
Navigating the Real Estate Market!
When we compare the January 2021 real estate statistics for the Niagara Region to last year, we can see a 11% increase in the number of sales AND a price increase of 27%! Residential home sales continue to remain strong into the beginning of 2021. The flip side of this statistic is that even though home prices and number of sales are up, there also appears to be a record low inventory with 24% fewer homes on the market as compared to January of 2020.
Homes are selling over asking price and often with multiple competing offers. It can seem so overwhelming and a bit intimidating. The Expertise of The Salisbury Team has tried and true systems in place to help you navigate this ever changing market. Please contact us if you have any questions and to find out about the many services we provide for our clients.
So, let’s take a look at how Niagara and your municipality performed compared to January of 2020!
Sunday February 7th 6:30 pm
The Old and The New… A Tale of Two Quarterbacks.
Place Your Bets…
Here’s to a Great Game!! Don’t forget to place your take-out orders early and support our local businesses!
Canadian Revenue Agency and Your Home
If you have sold a house in 2020, the Canada Revenue Agency (CRA) has some information for you! The global pandemic has also resulted in changes to CRA services. I hope that this information is helpful.
Now is a good time to report the sale of your principal residence. Before 2016, if you sold your property, and it was your principal residence for every year you owned it, you did not have to report the sale to claim the principal residence exemption. Now you do!
The CRA advises you to amend your tax return as soon as possible for any year in which you forgot to report. They are getting tougher with people when it comes to reporting the routine sale of their home, even when there is zero tax owing. You can click on the flag to be linked to the CRA Real Estate Site.
COVID-19 has impacted our lives in so many ways. There have also been many changes made to how the Canadian Revenue Agency is handling tax filing and benefits. Updates on changes to the Canada Revenue Agency services, due dates and programs affected by the pandemic are available on their website and by contacting your accountant.