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Selling This Fall Doesn’t Have To Be ‘Scary’

Halloween is just around a month away! However, that doesn’t mean you have to be ‘SCARED’ to sell your home this Fall. In fact, now is a great time to list your home for sale. We’ve compiled 4 ‘Tricks’ that will help you enjoy all the ‘Treats’ of a Fall Sale! 

THE MARKET IS STILL STRONG!
Sale prices are up across our community and properties are selling on average in 1 Month right now. Interest Rates continue to drop and now is the time to move to be home for the Holidays.

MOTIVATED BUYERS
We have motivated buyers that want to be in their new home for Winter and the Holidays. The Leaves are falling and these buyer’s dream homes are calling! Buyers are in decision making mode!

LESS COMPETITION
It’s not always the best decision to list your home during the most popular selling seasons. Right now, there are fewer new properties on the market meaning you’ll have less competition – which can pay off big time!

CURB APPEAL
Take advantage of the season by dressing up your home with warm, fall coloured plants, decorative door wreaths and seasonal items like Pumpkins.

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Barrie Market Report For August 2024

August statistics reflect a market that is balancing itself after a period of heightened activity. With active listings growing and inventory levels rising, buyers are benefiting from more choices, while sellers are still experiencing stable demand. This equilibrium is helping to create favourable conditions for both sides of the market.

Find out what your property is worth in today’s Market at https://forsaleinbarrie.ca/index.php/whats-my-property-worth/

Stats are correct as of September 25th. Based on August 2023 v August 2024

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August 2024 Market Report For Our Communities

Across the region, we’ve seen up and downs in all the major categories this month. Increases included; Active Listings and Average Price, whilst decreases included Sales Activity and New Listings. This follows the trend that we saw during the pandemic that prices will rise as interest rates drop. With prices up, this is great news for sellers whilst this month brings great news for Buyers too with Active Listings seeing a bump.

In our communities we saw an decrease across the board in Sales Activity with the largest decrease being in Penetanguishene with 54%. Also across the board in our communities we saw an increase in Active Listings with the largest increase coming in Penetanguishene at 77%, we did see very small decreases in Tay and Springwater of -3% and -1%. We also saw a rise in Average Price in the majority of local communities with the biggest being in Springwater with 29%. August showed us a strong market for both Buyers and Sellers and we anticipate a busy beginning to the Fall Market.

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 September 23rd, 2024, data gathered by the Ontario Collective based on August 2023 vs August 2024.

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Barrie Market Report For July 2024

The July statistics demonstrate the resilience of Simcoe County’s real estate market. While we see slight decreases in month-over-month sales and prices, the year-over-year growth in sales and new listings highlights the ongoing demand and stability in the region.

The increase in active listings is providing buyers with more opportunities, and we expect this balanced market to continue offering favourable conditions for both buyers and sellers.

Find out what your property is worth in today’s Market at https://forsaleinbarrie.ca/index.php/whats-my-property-worth/

Stats are correct as of August 27th. Based on July 2023 v July 2024

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July 2024 Market Report For Our Communities

Across the region, we’ve seen increases in all the major categories this month. Increases included; Sales Activity, New Listings, Active Listings and Average Price. This follows the trend that we saw during the pandemic that prices will rise as interest rates drop. With prices up, this is great news for sellers whilst this month brings great news for Buyers too with Active Listings and New Listings both seeing a bump.

In our communities we saw an increase across the board in Average Price with the largest increase being in Tay Township with 30%. Also across the board in our communities we saw an increase in Active Listings with the largest increase coming in Penetanguishene at 53%. We also saw a rise in Sales Activity in the majority of local communities with the biggest being in Tay with 50%. July showed us a strong market for both Buyers and Sellers and we anticipate a busy end to the Summer Market as look towards the Fall. 

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 August 14th, 2024, data gathered by the Ontario Collective based on July 2023 vs July 2024.

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Decluttering Your Life & Rightsizing Your Home

Have you ever felt overwhelmed by all the stuff in your home? If you’re planning to move to a smaller space, now is the perfect time to sort through your belongings. Decluttering before a move can save you both time and money since movers typically charge based on the weight or volume of your items. The fewer things you have, the lower your moving costs will be. Starting fresh in your new home with only the essentials can help you feel more organized and in control. Here are some tips to create a more peaceful living environment and set a positive tone for your new space.

Assess Your Current Possessions

Before you start packing, take a thorough inventory of your current possessions. This step is important because it helps you understand the sheer volume of items you own and what you genuinely need in your new, smaller home. Get the dimensions of your new home to understand how much space you have. Create a floor plan to visualize the layout and placement of your furniture. This will help you determine which furniture and larger items will fit and which ones you might need to sell or donate.

Let Go of the Unnecessary

One of the most challenging aspects of downsizing is letting go of items that you’ve accumulated over the years. Use the following strategies to make the process easier. The Four-Box Method involves labelling four boxes as “Keep,” “Donate,” “Sell,” and “Trash.” As you go through your belongings, place each item into one of these boxes. This method forces you to decide on each item and prevents you from keeping things “just in case.” The One-Year Rule suggests that if you haven’t used an item in the past year, it’s likely that you don’t need it. This rule is especially useful for clothing, kitchen gadgets, and hobby supplies. Marie Kondo’s KonMari Method asks you to question whether each item sparks joy. If it doesn’t, it’s time to thank it for its service and let it go. This method emphasizes keeping only those items that truly bring happiness into your life.

Sentimental items are often the hardest to part with. While it’s important to preserve memories, it’s also necessary to be practical. Here are a few tips for handling sentimental items. Keep the best and let go of the rest by selecting a few items that hold the most significant memories and letting go of the rest. For example, keep a handful of your children’s artwork instead of every piece they’ve ever created. Create a memory box dedicated to sentimental items.

Sell and Donate Items

Once you’ve decided what to let go of, consider selling or donating items that are still in good condition. This not only benefits others but can also help you financially. Platforms like Kijiji and Facebook Marketplace are excellent for selling items, allowing you to reach a wide audience and potentially make a good profit. Make sure to take clear, high-quality photos and write detailed descriptions to attract more buyers. Consider hosting a garage sale to quickly sell multiple items and engage with your community. Promote your garage sale on social media and community boards to attract more visitors. 

For donations, look for local charities, shelters, and thrift stores that accept gently used items. Organizations like Goodwill, Salvation Army, and local community centres often accept donations, and some even offer pickup services, making it easier for you to donate. Another tip is to check with local schools, libraries, shelters and community centers, as they often need donations like books, sports equipment, and office supplies. For example, many animal shelters are happy to receive your old blankets and towels. This way, you can support local institutions while decluttering your home.

Adapt to a Smaller Space

Living in a smaller home requires a shift in mindset. Embrace the idea that less is more, and focus on creating a space that feels open and uncluttered. Maximize vertical space by using wall-mounted shelves, hooks, and cabinets. This helps keep your floors clear and gives the illusion of a larger room. Opt for light colours, as they can make a room feel more spacious. Choose light-coloured furniture and decor to brighten up your space. Stay organized by investing in organizational tools like drawer dividers, closet organizers, and storage bins. Keeping everything in its place will help maintain a clutter-free environment. Regular decluttering should become a habit. Periodically go through your belongings and assess what you no longer need to prevent clutter from building up over time.

Embrace a Minimalist Lifestyle

Downsizing offers an excellent opportunity to embrace a minimalist lifestyle. Minimalism is about focusing on what truly matters and eliminating excess. This doesn’t mean you have to live with the bare minimum; rather, be intentional about what you keep in your life. Here are some principles of minimalism to consider. 

Quality over quantity suggests investing in high-quality items that will last longer and bring you more satisfaction than cheaper, disposable alternatives. Mindful consumption means being mindful of your purchases. Before buying something new, ask yourself if it adds value to your life and if you have space for it in your home. 

Experience over material goods encourages you to shift your focus from accumulating stuff to creating memories. These values can lead to a more fulfilling and enriching life.

Ready to downsize? Let your For Sale On Georgian Bay Agent guide you in finding the perfect home that fits your new lifestyle. With personalized service and access to a wide range of properties, we’ll make your transition smooth and stress-free.

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Barrie Market Report For June 2024

The Barrie real estate market is showing resilience despite the fluctuations observed in June. While we are seeing a decrease in sales compared to last year, the month-over-month growth is a positive indicator. The increase in active listings provides more options for buyers, and we anticipate a balanced market as we move forward.

These trends indicate a cautious adjustment in the real estate landscape, as buyers and sellers continue to navigate changing market conditions. The overall impact on home prices, coupled with the rising months of inventory, suggests a nuanced environment for buyers and sellers alike

Find out what your property is worth in today’s Market at https://forsaleinbarrie.ca/index.php/whats-my-property-worth/

Stats are correct as of July 23rd. Based on June 2023 v June 2024

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7 Questions First Time Home Buyers Should Ask

Asking the right questions is crucial in the homebuying process. While many questions should be directed to your For Sale On Georgian Bay agent about the property, it’s also important to ask yourself various questions to ensure this decision is the best for you, your family, and your future. Whether it involves conducting more research or running the numbers on a spreadsheet, these questions will be key to making the biggest purchasing decision of your life.

So, what should you ask? Often, the most basic questions are the most vital. Let’s explore what you need to find out before starting the process of purchasing a home.

7 Questions First-Time Home Buyers Should Ask

Here are seven questions first-time home buyers should ask:

Do I Have a 20 Percent Down Payment?

A 20 percent down payment is an essential component of the home buying process. However, it can be difficult for the typical household to accrue a sizable down payment in today’s Canadian real estate market. The main advantage is that having 20 percent of the purchase price ready allows you to borrow less, pay less interest, and trim your monthly payments.

If you do not have at least 20 percent, you may be required to pay mortgage insurance premiums from the Canada Mortgage and Housing Corporation, or CMHC.

Will I Qualify for a Mortgage?

When you begin house hunting, the best immediate step you can take is to get pre-approved for a mortgage. By qualifying for a mortgage, you know how much you have available and at what rate. But will you qualify for a mortgage? This is what top lenders will require or consider:

  • Income
  • Employment status
  • Credit
  • Down payment
  • Stress test
  • Debt service thresholds or debt-to-income (DTI) ratios.

What Are the Hidden Costs of Purchasing a Home?

Gone are the days of simply obtaining a mortgage and receiving the keys to your new home. Today, there are many layers to the home buying process, and, as a result, there will be various hidden costs to factor into your budget. Here is a brief list of what you can prepare for:

  • Land Transfer Tax
  • GST/HST
  • Title insurance
  • Land survey
  • Condo fees (if applicable)
  • Mortgage default insurance (if applicable)
  • Legal expenses
  • Hook-up costs
  • Moving expenses

Can I Afford to Maintain a Home?

Home ownership can be expensive as there are many fixed, variable, and emergency costs you will experience every month. In other words, your household will need to budget for more than just the monthly mortgage payments. Here is what you can anticipate to spend on during the coming years:

  • Home insurance
  • Utilities
  • Property taxes
  • Maintenance (mowing the lawn and watering the grass, for example)
  • Household repairs or replacements.
  • Water heater rental
  • Condo special assessments

And this is just the tip of the financial iceberg.

Should I Book a Home Inspection?

Home inspections are imperative for homebuyers. They ensure that the home you are buying is in good condition and will not require expensive repairs, renovations, or replacements once the property is transferred to you. While it is an added expense of a few hundred dollars, it is an investment that could help you trim the selling price if you find anything wrong with the house.

How Old Is Everything Anyway?

When you come across a house that has piqued your interest, it is essential to determine how old the appliances and major systems are, such as the washer and dryer, refrigerator, water heater, roof, electrical system, and HVAC systems. If they are new, you are less likely to face issues than if they were as old as the neighbourhood.

Is This the Right Neighbourhood for Me?

Do you wish to own a home in your current neighbourhood, or do you wish to branch out somewhere else, be it a large city or a small town? This is something important to consider, especially when you factor in other elements, such as schools, transportation, nearby amenities, your office, and other day-to-day items essential to your living standards.

Final Thoughts for First-Time Home Buyers

Buying a home is a significant milestone in your life. Home ownership is a part of the Canadian Dream. Because it is a substantial investment, you need to do your due diligence and in-depth research to ensure that you have made the right decision for you and your household. You should never be cavalier when buying a property. Ask any and all questions, even if you think they are silly – your For Sale On Georgian Bay agent is here to answer them!

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June 2024 Market Report For Our Communities

Across the region we see that active listings are up 34% and the median price is up 2% from last year. New Listings are also up 7% and the list to sale ratio is sitting at a very strong 97%. Good news for buyers and sellers alike!

In Springwater and Penetang we saw Average Price increases with a large incease of 18% in Springwater! We saw large increases across the board for active listings in our community, even seeing a 55% increase in Midland. As we move through the Summer Market, we did see a slow down in sales activity. This was expected as many buyers were eagerly awaiting the first rate reduction in 4 years. With plenty of inventory and now more purchasing power for buyers, we expect to see a busy end to the Summer Market. 

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 July 17th, 2024, data gathered by the Ontario Collective based on June 2023 vs June 2024.

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Barrie Market Report For May 2024

The Simcoe County real estate market is showing resilience despite the fluctuations observed in May. While we are seeing a decrease in sales compared to last year, the month-over-month growth is a positive indicator. The increase in active listings provides more options for buyers, and we anticipate a balanced market as we move forward.

These trends indicate a cautious adjustment in the real estate landscape, as buyers and sellers continue to navigate changing market conditions. The overall impact on home prices, coupled with the rising months of inventory, suggests a nuanced environment for buyers and sellers alike.

Find out what your property is worth in today’s Market at https://forsaleinbarrie.ca/index.php/whats-my-property-worth/

Stats are correct as of June 29th. Based on May 2023 v May 2024