Put your needs first!

Every week I see news headlines about Toronto’s real estate market - it’s cooling down, it’s heating up, it’s a good time to buy, it’s a good time to sell. I believe that the best time to buy or sell is when it suits you, your family, and your finances. In a city the size of Toronto you will always be able to find a house or a buyer – you just have to be clear on what you want and be a little bit flexible. Yes, there are periods of the year where transactions are more likely to happen, and those periods may give you more options, but real estate changes hands in Toronto 52 weeks of the year – 78,898 transactions in 2003. So choose the timing that's right for you.

Here’s a June press release from the Toronto Real Estate Board to give you an idea of what’s been happening recently in the city:

It's a Hat Trick! Three Consecutive All Time Record Months
Monday, June 7, 2004

The Toronto Real Estate market posted its third consecutive all time record performance in May, with 9,193 single-family dwellings changing hands through the Toronto MLS system, TREB President Cynthia Lai reported today. "This figure is up just slightly from April's 9,168 figure, our previous all-time record, and up 15 per cent over May of 2003."

"The March, April, and May period was the best three month stretch in the history of the city (27,437 sales), and 2004 is on course to be the best year our local resale market has ever seen," Ms. Lai remarked. "As President of the Toronto Real Estate Board, these kinds of results make me very proud. In fact, when I leave office at the end of June, my term will have marked the best twelve month period that the Toronto resale market has ever recorded."

Ms. Lai went on to say that prices continued their upward trajectory in May, with the average going to $325,501, a one per cent increase over last month, and a nine per cent increase of May of last year. Fortunately, inventory also rose, to 22,484 active listings, a nine per cent increase over the previous month. "We have plenty of listings," Ms. Lai said. "And as long as that is the case the price increases we are seeing should be relatively constrained."

Breaking down the total, 3,438 sales were reported in TREB's 28 West districts and averaged $300,128; 1,559 sales were reported in the 14 Central districts and averaged $444,138; 1,848 sales were reported in the 23 North districts and averaged $349,317; and 2,348 sales were reported in TREB's 21 East districts and averaged $265,137.

Cooling your air-conditioning costs!

Here are a few easy ways to stay comfortable while keeping your air conditioning costs down:

1. Close blinds and curtains as much as possible during the day to block the sun.
2. Use a programmable thermostat and set it to turn the air conditioning low or off at night, and when you are out.
3. Close doors and air vents in unused rooms.

For more tips on saving costs on your air-conditioning: http://oee.nrcan.gc.ca/tips/AirCondition.cfm

It’s not the heat, it’s the humidity!
If you don’t already have one, be sure to get a good de-humidifier for your basement to reduce moisture in the humid summer months. Keep your unit going all summer, and even throughout the year depending on your house’s moisture levels. Remember to empty your de-humidifier frequently; ideally set it up to empty directly into a floor drain.

Flower Power
This is the perfect time of year to enjoy flowers in the house – for free! Bring fresh flowers in from the garden all summer. Depending on the size and maturity of your garden, you can treat yourself to a full bouquet, or steal just one or two stems to brighten your house. Place fresh flowers from your garden in your kitchen, bathroom and bedroom – anywhere you will see them the most. Look for small vases that you can use for your dinner table or any spot that needs to be brightened.

No matter how much you like your house, it’s good to get out!
Here’s just a bit of what’s on in Toronto for you to enjoy during July:

Know someone on the move?
If you know someone who is looking to buy or sell a house or condominium in Toronto, please have them call me, or let me know and I will contact them with your introduction. Most of my clients come through referrals from people like you! Thank you for your confidence!