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.
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
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
What are the benefits?
For questions on the Brampton or Georgetown / Halton Hills real estate markets you can reach me at textvic@gmail.com
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.
One of the best ways to understand about a home’s condition, habitability and safety is to hire a professional home inspector1. A properly trained home inspector will review your house as a system, looking at how one component of the house might affect the operability or lifespan of another. Home inspectors will go through the property and perform a comprehensive visual inspection to assess the condition of the house and all of its systems. They will determine the components that are not performing properly as well as items that are beyond their useful life or are unsafe. They will also identify areas where repairs may be needed or where there may have been problems in the past. Inspections are intended to provide the client with a better understanding of property conditions, as observed at the time of the inspection.
Following the inspection, the buyer is presented with a written report, consolidating the details of the inspection. The home inspector should be willing to answer any questions a buyer might have and to clarify the limitations of the inspection to avoid misunderstandings. CMHC recommends that potential buyers accompany the inspector as the inspection takes place. It can be a valuable learning experience.
The inspector will check exterior components including roofing, flashing, chimneys, gutters, downspouts, wall surfaces, windows, doors, the foundation and the grading around it. Interior systems the home inspector will check include electrical, heating, air conditioning, ventilation, plumbing, insulation, flooring, ceiling and walls, windows and doors. Unless otherwise arranged, typically a home inspection does not include appraisals, exact quotes for repairs, or determine compliance with regulatory requirements. A home inspection is not intended to provide warranties or guarantees.
Brampton, Ontario has experienced substantial residential growth throughout the 1980s and 1990s. Much of Brampton is geared toward homeownership. The Spingdale subdivision, which began development in 1990, is no exception.
In keeping with the Province of Ontario’s Land Use Planning for Housing Policy Statement at the time, 25% of the housing had to be “affordableâ€. The Province defined affordable housing as that which was affordable to households at the 60% income percentile and below. In the development of the secondary plan for Springdale, the City of Brampton noted that it was important for affordable housing to be spread throughout the entire new community, not concentrated in any particular area.
Greenpark, a very large developer in the Greater Toronto Area, built 667 of the first 1,700 homes in Springdale. Greenpark offered a range of housing from small, affordable starter homes for young families up to million dollar mansions. In fulfilling the need for affordable housing that could be integrated throughout the community, Greenpark chose to build some Uniquattro housing.
The Uniquattro, which was designed by Greenpark, is considered to be an innovative breakthrough in providing an affordable housing option for first-time homebuyers. The Uniquattro requires a reduced lot size and has a compact built form.
The affordability of the Uniquattro can be attributed to reduced lot size and a compact floor plan.
One of the key elements that make the Uniquattro affordable is a reduction in lot size compared with conventional single-detached houses in the subdivision.
As a townhouse the Uniquattro requires a lot width of approximately 18 feet. This is about half the width for a single-detached house in Springdale.
As the site plan below illustrates, even though the lot sizes have a reduced width, they still provide open space for each household. Access to the rear yard in Model A is achieved by using the side yard. In Model B access to the rear yard is achieved via the garage. While width is reduced, the depth of the lot stays the same as other lots in the development, which allows for mixing lots and a smooth integration with other housing types in the community. The Uniquattro yields almost 17 units per acre.
Uniquattros sold for $152,900 (1991). The sale price was below the Province of Ontario’s affordable price guideline at the time of $157,500. Households with an annual income of approximately $55,000 could afford to purchase the Uniquattro.
Single-family houses in Springdale of similar size, but located on 41 foot wide lots (more than twice the width of Uniquattro lots), sold for $189,900 compared to $152,900 for Uniquatros; a reduction of 24% ($37,000). This reduction in price is due to the more efficient use of land.
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That’s tricky. After all, if you find a purchaser for your existing home, before you’ve found a new one, you may find yourself living out of a suitcase if convenient closing dates can not be negotiated. On the other hand, if you find your dream home before you’ve unloaded your old one, you may be faced with carrying two mortgages for a time.So how do you manage? Easy. Do your homework and have a good idea about the neighbourhood and type of home you’re looking for. Do an honest evaluation of your family’s needs and budget.Â
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Speak to your RE/MAX agent and start your new home search as soon as your existing home hits the market. If you’ve found a home, before you’ve sold your existing one, use “sale of your existing home” as a condition on your offer. If you don’t sell your house within a fixed period of time, you can choose not to go through with the offer. This, however, is a difficult condition for many vendors to agree upon and you may find that you have to forgo your price negotiating power.
Purchasing a home before you sell could be a risky strategy if you’re counting on the proceeds from the sale. If you’ve found a purchaser before you’ve found your next home, use “purchase of a new home” as a condition when you sign back the agreement. Again, it will only be for a fixed time. Even if you have not found the ideal next house by the time the deal closes, you may still wish to proceed with the offer. As a buyer with a “sold house” you will be in a better position to negotiate price.
