Sudbury Real Estate Resource Centre Blog

MLS® sales grow in February

2007-03-27T18:37:00Z

Real estate sales in the region rose significantly this February, according to MLS® statistics released by the Sudbury Real Estate Board.

The Board's MLS® system recorded 209 transactions for all types of real estate in February. This represents a six per cent increase over January.

The total dollar volume reported by the Board's MLS® system in February 2007 was $39,717,831. This represents a 58 per cent increase over the past year.

“February 2007 was a very strong month for real estate sales in Sudbury,” said Board President Dan Gray. “We expect both residential and commercial property sales in Sudbury to remain active in the coming months.”

There was an increase in the sale of residential properties from January to February. The Board's MLS® system reported 181 homes sales in February 2007, up six per cent from January 2007.

The total value of residential transactions reported through the Board's MLS® system in February 2007 was $32,936,291. This represents an increase of 22 per cent compared to January 2007 and an increase of 40 per cent compared to February 2006.

The average price of homes sold through the Board's MLS® system this February was $181,968. This compares to $157,794 in January and $139,774 last February. These figures are useful for comparison purposes and for establishing trends, however, the Board states they do not indicate the actual cost of a home due to the wide selection of housing available in the area.

A total of 250 new residential listings were added to the Board's MLS® system in February. At the end of the month, the Board's MLS® system showed 621 active residential listings.

The Sudbury Real Estate Board represents approximately 260 REALTORS® registered with its member offices in the Greater Sudbury area. The Board - which was created in 1950 - hosts the Multiple Listing Service® (MLS®), provides educational courses, and ensures that members strive to meet uncompromising standards in their service to consumers.

Putting a price on a Lifestyle

2007-03-27T17:53:00Z

Shopping for a house is as much a lifestyle decision as it is a financial one. After all, unless you’re a professional real estate investor, you’re not just buying a house, you’re buying a home.

Sure, there are important financial matters to consider, such as mortgage rates, payments and resale values. But when deciding whether or not to make an offer, you also need to think about how that home will impact the quality of your life.

So, it’s important not to let an attractive list price distract you from considering a home that has features that may be worth paying a little more for.

You should determine the lifestyle features that are important to you and your family and factor them into the purchase price of any home. For example, have you considered the value of:

Ø A large kitchen and a comfortable recreational room with a wet bar? Perfect if you entertain a lot.

Ø A quiet room or cozy alcove? Ideal if you like to read, sew, build model airplanes, or surf the net.

Ø A backyard with the right combination of sun and shade? Priceless if you love to garden.

Ø A relatively flat, rather than inclined driveway? Great for a game of one-on-one basketball with the kids.

Ø A spacious deck or patio area? Hours of enjoyment for the BBQ fanatic in the family.

Ø Parks, recreation centers, and schools within walking distance? A real time-saver if you have children.

Ø Local green space and trails? Ideal if you have a dog to walk or are a jogger.

Taking these “lifestyle factors” into account will put the asking price into perspective, and help you determine how much the home is really worth to you.

If you would like a list of home on the market that meet your financial and lifestyle requirements, call me today.

Ontario Freezes Property Assessments

2006-12-27T17:01:00Z

The Ontario government is cancelling the next two property tax re- assessments, to allow the province time to revamp the controversial system administered by the Municipal Property Assessment Corporation (MPAC). The move effectively freezes assessed values where they are now, but does not affect appeals.

The assessment system has angered Ontario homeowners because they have had to cope with huge increases in their assessments and the subsequent impact on their municipal taxes.

Ontario Finance Minister Greg Sorbara announced the two-year freeze in response to a scathing report from Ontario Ombudsman Andre Marin, who described the Municipal Property Assessment Corp. (MPAC) as an elitist operation with practices that result in thousands of incorrect assessments every year.

Marin's report was released at the end of March and Sorbara announced the cancellation to give MPAC time to implement changes and 22 recommendations in the report. "We will be able to bring about changes that will make the system more fair and accountable," the minister told reporters at the provincial legislature.

"We want to ensure that the changes will result in an improved and strong, functioning system that is fair to all Ontarians."

The assessed value set by MPAC, when multiplied by the tax rate set by municipalities, results in the tax bill sent to homeowners.

Sorbara's announcement came the day before the deadline for Ontario homeowners to appeal their 2006 assessments to the Assessment Review Board. It was extended by the government from the end of March at the time Marin's report was unveiled.

The Finance Minister acknowledged there could be "significant changes" to property values when they are reviewed again in 2008. The minister said, "Our aim is to continue to improve the property assessment system ... The system needs to serve the best interests of all ratepayers across the province."

Marin recommened Ontario look at Manitoba's system, which puts the onus of proof on those who made the assessment. He noted the Ontario system puts the onus on the taxpayer to prove an assessment is wrong and also ignores a property's actual sale price, preferring mass appraisals. (CREA 30/06/2006)

Total value of MLS® sales rises

2006-12-15T02:28:00Z

The value of MLS® sales in the region served by the Sudbury Real Estate Board increased this November compared to the same period one year ago. MLS® sales activity eased compared to the previous month as part of the normal seasonal sales pattern for the area.

The total value of all property sales reported through the Board's MLS® system this November was $33,807,590. This is a decline of five per cent compared to October 2006 but an increase of 13 per cent compared to November 2005.

A total of 210 property sales were recorded through the Board's MLS® system this November – down 25 transactions compared to the previous month and a decline of 24 transactions from November 2005.

"November was a very good month for real estate in Sudbury," said Board President Dan Gray. "While sales have eased compared to the same period in 2005, this was what we expected and our market remains very active by historical standards. We are very optimistic about our fourth quarter results and expect to see an active and healthy real estate market in 2007."

The total value of home sales reported through the Board's MLS® system this November was $30,515,190. This is a decline of nine per cent compared to October 2006 but an increase of nine per cent compared to November 2005.

A total of 187 homes traded hands through the Board's MLS® system this November. This compares to 219 home sales in October 2006 and 210 in November 2005.

The average price of homes sold via the Board's MLS® system this November was $163,183 – a 23 per cent jump compared to November 2005 ($132,755). The Board cautions that the average residential price is a useful figure only for establishing trends and comparisons over a period of time. It does not indicate an actual price for a home due to the wide selection of housing available in the area.

A total of 239 new residential listings were added to the MLS® system of the Sudbury Real Estate Board this November. There were also 782 active residential listings on the Board's MLS® system at the end of the month.

Understanding The Psychology of Clutter

2006-12-06T22:05:00Z

Read any Top 10 listing of things to do to prepare your house for sale and "Get rid of the clutter" is sure to be on it.

But how important is cleaning up really? Does your home have to look immaculate, like it's been torn from the page of a decorating magazine? Can't the average buyer look past a little clutter and see the value of your home for what it really is?

The answer lies in psychology.

Clutter - a disorganized garage, an overstuffed closet, a disheveled basement - can make people feel uneasy and even edgy. In a study published in the Journal of Family Psychology, clutter was even linked to depression.

In addition, clutter can create a feeling of hesitancy, even inertia. "At the sight of clutter people shut down," say organization expert Cathy Philips. "They don't want to do anything". But you want a home buyer to do something - make you and offer!

Clutter can also draw attention to the wrong things. Instead of a big double garage, for instance, a buyer's attention may be focused instead on boxes, lawn equipment an bikes piled in the corner. Clutter can instantly turn a great selling point into a turnoff.

And if all that isn't enough, clutter has the knack for making everything seem smaller. A big spacious closet can look downright claustrophobic when stuffed to the ceiling with shoes, clothes and boxes.

So don't underestimate the psychology of clutter. According to research by HomeGain, getting rid of clutter ranks as one of the best investments you can make in preparing your home for sale, averaging a 594% return on your investment.

Looking for more ways to sell your home faster and for more money? Give me a call and I will be happy to answer any of your Sudbury Real Estate questions. I can be reached at 705-560-5656 or toll free 800-601-8601 or drop me an email

Welcome to my blog!

2006-12-06T21:53:00Z

Hello Buyer's and Sellers! Welcome to my blog.

I hope you find this forum a useful and informative place to find valuable information regarding the Real Estate Industry, tips on getting your home ready for sale, and ways to help you save money whether you're planning on buying, selling, or just maintaining your home.

Feel free to leave feedback or drop me an email. I would love to hear from you.

Regards,
Lana Watier – Sale Representative

Re/Max Crown Realty (1989) Inc.

705-560-5650