More photos = More viewers

A study by Point2 Technologies, a provider of website and listing syndication software for real estate professionals, says home buyers are more attracted to online listings that have lots of photos.
 
The study set out to examine the impact of photos in driving real estate transactions, as part of a broker’s or agent’s online marketing efforts. Point2 Technologies says the results strongly suggest that adding more photos generates a better response to real estate listings.
 
Listings that did not include any photos performed very poorly, generating little consumer response and business, says the company. The study showed that listings with zero photos attract, on average, 0.02 per cent of the detailed listing views that listings with 21 to 36 photos enjoy. Listings that featured a single photo fared significantly better.
 
“Once again the data indicates that online home shoppers want rich content, specifically in the form of more photos, otherwise they intend to move on to the next listing,” says Carey Tufts, director of marketing, Point2 Technologies. “Especially in today’s market, home sellers and their agents do not have to take this risk. The data sends a powerful message. With more than 80 per cent of home buyers continuing to do their research online, agents must attach more photos to their listings for them to stand out and attract more potential buyers.”
 
Compared to listings with only one photo, those with 21 or more photos generated more than triple the number of detailed views, more than double the amount of interest, and double the number of leads, says the study. Compared to listings with no photos, those with 21 or more photos generated more than 55 times the number of detailed views, nearly 27 times the amount of interest, and 898 times the number of leads.

I provide virtual tours and atleast 30 photos with all my listings at no extra cost. If interested in finding out more drop me an email.

Brampton home for sale #7

Only $385,000! Absolutely beautiful house that’s great for entertaining. Huge open concept kitchen combined with the family room. Raised bungalow with 5 bedrooms on a corner lot. Hardwood throughout most of the house. Located in a great family oriented neighbourhood by Mavis and Steeles Ave. Brampton’s best value! For more details and pictures drop me an email.

November stats for Brampton

Number of houses sold in Brampton in November 2008 = 315

Breakdown of Brampton sales:
Freehold townhouse sales = 53
Condo townhouse sales = 53
Condo apartment sales = 36
Semi-detached sales = 126
Detached houses sales = 301
Other type =

Number of houses sold in Brampton in November 2007 = 573

November stats for Halton Hills / Georgetown

Number of houses sold in November 2008 (in Halton Hills / Georgetown) = 61

Breakdown:
Freehold townhouses = 7
Condo apartments = 5
Condo townhouses = 4
Semi-detacheds = 0
Detacheds = 42
Other types =

Total number of houses sold in October 2007 (in Halton Hills / Georgetown) = 96

Brampton townhouses

Brampton consists of both condo townhouses and freehold townhouses. Up until December 4th 2008, 614 freehold townhouses have been sold. That’s compared to 770 in all of 2007. There have been 529 condo townhouses sold so far this year and 653 condo townhouses sold in all of 2007.

Freehold Townhouses price breakdown for 2008
Number of solds in each price category:
$150,000 to $200,000 = 19
$200,000 to $250,000 = 172
$250,000 to $300,000 = 339
$300,000 to $350,000 = 93
$350,000 to $400,000 = 6
$400,000 to $600,000 = 0

Condo townhouses price breakdown:
$100,000 to $150,000 = 10
$150,000 to $200,000 = 272
$200,000 to $250,000 = 170
$250,000 to $300,000 = 87
$300,000 to $350,000 = 10
$350,000 to $400,000 = 0
$400,000 to $600,000 = 0

These stats are only for Brampton townhouses. If you are interested in staying up to date on the Brampton or Georgetown real estate market drop me an email.

Condos in Brampton

In 2007, 855 condos were sold in Brampton. Up until December 3rd 2008, 423 condos have been sold. The prices have ranged from $110,000 all the way to $369,000. The lowest priced condo, however, in this area of Brampton was sold for only $100,000! The most expensive building on average has been 1 Belvedere court (Queen St / Main St). The least expensive condos are located around Bramalea City Centre.

The condos around the Bramalea City Centre are generally around $140’000′s to $160’000 for a 2 bedroom unit that is over 1000 sqft. This is great location as it is close to the Brampton’s biggest mall, the library, grocery stores, bus stations, GO station, and highways. There are also rental buildings in that neighbourhood.

Another very affordable neighbourhood is the one by the Shopper’s World. The 2nd mall of Brampton, located by Hurontario and Steeles Ave, is surrounded by condos and rental buildings. This year, so far, 127 condos have been sold in that area. The lowest priced unit went for $130,000 in a condo located by Mclauglin and Steeles Ave. It was a 1 bedroom plus den with a maintenance fees of $375/month. This building is generally for the retired community.

Price Breakdown:
Number of condos sold up until December 3rd, 2008 in each price category:

$75,000 to $100,000 = 1
$100,000 to $125,000 = 29
$125,000 to $150,000 = 128
$150,000 to $175,000 = 79
$175,000 to $200,000 = 83
$200,000 to $225,000 = 72
$225,000 to $250,000 = 46
$250,000 to $275,000 = 6
$275,000 to $300,000 = 0
$300,000 to $325,000 = 3
$325,000 to $350,000 = 0
$350,000 to $400,000 = 1
$400,000 to $600,000 = 0

These stats are for Brampton condos only. If you are interested in staying up to date in the Brampton or Georgetown market drop me an email.

Benefits of home staging

What are the benefits?

• Faster sales time. 
• Higher sales price. Nationally, most staged homes are selling for their original asking price which is 4-8% higher than other sold properties.
• Stand out from the competition. Get the edge by having the best buy on the market.
• Buyers feel home is well maintained helping eliminate low offers.
• Increase showing times. Buyers have an invitation to stay longer and make an offer.
• Buyers are focused on the features of the home and not the stuff in it.
• Staged homes showcase better on websites and in other advertising.
• Create buzz with brokers. Who doesn’t want to sell a house that looks like a cover of a magazine?
• Professional stagers provide an honest independent third party assessment of a home from curb to closet. Sellers cannot truly be objective in a house they have been living in. Stagers have the experience and ideas to help sellers get their house ready and work closely with Realtors to help get a house sold.
• Staging is investment in getting a house sold and the investment in staging is always less than a price reduction! A good stager works with a sellers’ budget and time frame to properly Stage a house. When compared with the other costs associated with the sale or purchase of a home, staging is very reasonable.
• They showcase very well on virtual tours.

For questions on the Brampton or Georgetown / Halton Hills real estate markets you can reach me at textvic@gmail.com

How to sell in a buyer’s market

Brampton (actually pretty much all of Canada) has enjoyed a seller’s market for several years now. The tables are however turning. The U.S economic crisis has finally started effecting Canada and most of the world. In November 2007 543 houses were sold in Brampton and so far this November only 283 houses have been sold in Brampton.

Not everyone is complaining though. Buyers couldn’t be happier. Those who have job security are all smiles because finally the prices have started to stabilize, and there are more listings on the market to choose from. For a few years if there was a property that a buyer wanted to buy chances were 10 other people wanted to buy it also. Bidding wars became very common and the prices kept skyrocketing.

So how do you sell in a buyer’s market? First off: if you don’t have to sell then don’t. Just wait it out till it becomes a seller’s market again. If you must sell because of your situation then be sure to price it right. You just cannot these days price it high to test the market or to leave lots of room for negotiation. If the house is worth $300,000 then be sure to price between $294,000 to $301,000.  Ask your agent to give you weekly updates on market conditions. If similar houses start selling for $295,000 then you need to know that and unfortunately keep adjusting your price.

Second thing you can do to increase your chances of getting your house sold in Brampton (or Georgetown / Halton Hills) is to offer the buyer agent a bonus.  There are so many listings competing for that one buyer now. The buyer relies on his agent to show him the appropriate houses. If you offer that agent a bonus then you can be sure your house will be on his list to show. Some listings I’ve seen are also offering buyers bonuses. A multimillion dollar listing was offering a brand new car to attract buyers!

Renovations help. However, keep your budget in mind. No point in spending $10,000 on renovations and gaining only $5,000 in the selling price. Another thing  you can do is to hire an agent who has the experience and skills needed to sell in this kind of market. He will be able to give you more specific pointers.