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Selling Your Home During The Holidays – Everything You Need To Know

Have you been thinking about listing your property during the Holidays? Sometimes, your circumstances dictate when you have to sell – perhaps you’re relocating in the New Year for a new job. Or you found your dream home and need to sell the current home you live in.

While the thought of selling your home during the winter months may dampen your holiday spirit, the season does have its advantages: holiday buyers tend to be more serious and competition is less fierce with fewer homes being actively marketed.

So, if you’re in the position of having to sell, here are some tips you should consider:

Hire a For Sale On Georgian Bay Agent

Using For Sale On Georgian Bay means your agent will work hard for you and won’t disappear during Christmas or New Year’s. We love listing homes during the holidays – it allows us to do some great marketing work that’s unlike any other time of the year. Having a good agent will ease your stress and give you more time to enjoy the season.

Deck the Halls, but Don’t Go Overboard

Homes often look their best during the holidays, but sellers should be careful not to overdo it on the decor. Adornments that are too large or too many can crowd your home and distract buyers. Also, avoid offending buyers by opting for general fall and winter decorations rather than items with religious themes.

We’ll Seek Out Motivated Buyers

Anyone house hunting during the holidays must have a good reason for doing so. Our agents will be using strategies to target buyers on a deadline, including people relocating for jobs in your area, investors on tax deadlines, and first time buyers. 

Price it to Sell

No matter what time of year, a home that’s priced well for the market will make buyers feel merry. Rather than gradually making small price reductions, we recommend our clients selling at this time to draw attention of serious buyers. There is no need to price at under-market value, but rather than starting high and making small reductions, price strategically and watch your home sell quickly.

Make Curb Appeal a Top Priority

When selling your home during the holidays, maintaining the exterior of your home becomes even more important. Bare trees equal a more exposed home, so touch up the paint, clean the gutters and spruce up the yard. Keep buyers’ safety in mind as well by making sure stairs and walkways are free of snow, ice and leaves.

Give House Hunters a Place to Escape from the Cold

Make your home feel cozy and inviting during showings by cranking up the heat, playing soft classical music and offering homemade holiday treats. When you encourage buyers to spend more time in your home, you also give them more time to admire its best features. 

Relax — the New Year is Just Around the Corner

The holidays are stressful enough with gifts to buy, dinners to prepare and relatives to entertain. So, don’t stress too much about selling your home during the holidays. With your For Sale On Georgian Bay agent in place and the right marketing strategies, you’ll be in good hands to ensure a quick sale at the right price for you.

If you want to learn more about how we can help you sell your home stress-free during the holidays or winter months, don’t hesitate to reach out.

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Interest Rates Rise Again – Here’s 5 Things You Need To Know!

Our friends at Mortgage Wellness have their finger on the pulse of interest rates in Canada. With their help and knowledge, we have been able to provide you with five current facts about the most recent increase. As many of you may have heard, on December 7th the Bank of Canada raised its benchmark interest rate for the seventh time this year in an effort to cool rising inflation in the country.

1) Prime Rate is now 6.45%, at the beginning of the year the prime rate started at 2.45%. 

2) The increase was .5%. The increased cost of borrowing for those with a variable rate mortgage, adjustable rate mortgage or home equity line of credit is $500 per year for every $100,000 of borrowed money. For example, if you have a $300,000 mortgage you could expect your cost of borrowing to increase by $1500 dollars a year or about $125 per month.

3) This increase only affects those with a variable rate mortgage, adjustable rate mortgage or home equity line of credit. 

4) If you have a fixed rate mortgage, you’ll see no change to your rate or payment whatsoever.

5) Most people think that this is the end of increases from the Bank of Canada. However, articles suggest that we will see one more increase in 2023 before we start to see cuts at the end of 2023. 

If you have questions, we suggest you reach out to our good friends at Mortgage Wellness. If you are in need of a pre-approval, help with your mortgage or just have an inquiry, we are lucky to have Mike Moore and Shannon Houde in our office throughout the week here at 255 King St in Midland. 

View Mortgage Wellness’ 5 things you need to know video here.

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November 2022 Market Report For Our Communities

As we get deeper into the holiday season let’s take a look at how the Market is looking. We saw a large decrease in sales activity where November sales were down 29% compared to 2021. For a few months in a row now, active listings continued to surge, across our communities we saw 211% rise in active listings. There’s lots of opportunities for Buyers right now but don’t forget that seller’s are still getting top dollar for their properties. Although prices are down (7.3%), it’s important to remember that, year to date, the average sale price is up 8.1% compared to this point last year.

In our local communities, we saw the active listing trends continue, a lot more inventory in Penetanguishene with a huge 433% increase and in Tiny with a 304% increase. We also saw large inventory increases in Penetang and Tay throughout November. Prices stayed fairly consistent compared to last year with very minimal decreases In Midland. Across our other communities, we saw larger decreases. However, it’s important to note that there were limited sales to base this information off – Sales Activity was down almost 30% across the region. As we head into the new year, we expect a re-balancing of the market to continue with more opportunities for buyers but also attractive sales prices for sellers.

Trust your local experts to guide you through the process and take advantage of the current market. Ask us about our FREE Home Market Analysis to determine exactly how much your Home is worth in today’s Market.

All data correct as of December 8th, 2022, data gathered by the Ontario Collective based on November 2021 vs November 2022.