Toronto has highest property taxes in Canada

Is it a good idea to sell you Home or Commercial Property yourself?

How Does a Real Estate Agent Help You Sell Your Property?

If you have decided that now is the time to sell or lease your home or commercial property, you might consider: should I retain a Real Estate Brokerage or do it alone? Do you repair your car, file your own tax returns, or invest all of your investments without a professional. Anyone can buy the tools  or a a tax preparation kit. However how many of us have the time, knowledge and experience to complete these tasks.

Buying a for sale sign  is not the beginning of a successful transaction. Marketing , leasing and selling  real estate is a complex procedure. It  involves investment of time and capital as well one must follow certain  legal requirements. Without the professional experience it may cause the unknown seller costly mistakes. It requires a tremendous depth of knowledge and experience, as well as substantial amount of time to follow-up on every detail promptly and properly.

Will you really save the real estate commission?
Most buyers equate a "For Sale By Owner" sign with a bargain. They assume you will sell for a discount because you do not have to pay the real estate commissions and, as a result, they'll probably offer you less than fair market value. Negotiating your price upward to regain even a part of the anticipated commission savings will be difficult at best.

Do you have the time?
If you do it alone, how much will you really save when you factor in the considerable time you will have to invest? Without a realtor's support, you are the one who will have to write and pay for the ads to market your property, remain available day or night for calls from prospects, run the open houses on weekends and show your property on short notice, screen potential buyers, fill out the paper work and do the dozens of things required to sell a home. Do you really have the time for all this? And what is your time worth - the time spent away from your family and friends and work?

How will you reach potential buyers?
Do-it-yourselfers are faced with the problem of how to market their home effectively. How good are you at writing hard-hitting advertisements that will stand out from all the others and entice prospects to call you? Where should you run these ads, when, and how often? Do you have the time and patience to handle telephone inquiries? Are you prepared for the cost of advertising - including a professional-looking "For Sale" sign? Realtors are experts in effective advertising and cover all of these costs as part of their service to you.

Moreover, when you work with a realtor your home receives far-reaching market exposure through the Multiple Listing Service (MLS). MLS is a computer-based system that relays valuable information about your home to a vast network of realtors and their potential home buyers in your market area. Remember, the greater exposure, the greater the chances for a higher price. Also, most realtors work for real estate companies that have their own websites or real estate online web portals which will feature your listing; these websites are generating thousands of visitors a day.

Do you really know the true market value of your home?
Setting a list price is perhaps the most difficult, yet critical, step in the home selling process. It requires extensive knowledge and training, as well as access to sophisticated market analysis developed over years of experience. Do-it-yourselfers usually lack these resources and often end up guessing at their asking price.

If you set your asking price too high, many prospective buyers will be frightened off without even seeing the property; too low and you will leave thousands of dollars on the negotiating table needlessly. One of your realtor's most important roles will be helping YOU decide upon and negotiate a realistic asking price for your home that meets your both your sales objectives and fair market value.

Are you ready to "pre-screen" every prospect?
Do-it-yourselfers are faced with the challenge of interviewing every person who responds to their ads or "For Sale" sign. How do you go about this arduous task without offending those who are clearly not serious or qualified buyers - and yet protect your own interests and security? Do you have the skills and experience to ask the right questions over the phone before you let a prospect visit? How are you going to find out whether they are really qualified to purchase in your home's price range?

Pre-screening prospects is absolutely necessary to weed out the lookers from the serious buyers. Your realtor knows how to do this effectively, saving you many hours of time and quite a few headaches.

How are your selling and negotiating skills?
Selling real estate is considerably different from selling most other products or services. Many do-it-yourselfers attempt to over-sell, smothering the buyer with every detail and nuance about the property. Few understand the subtle differences between a home's features and the potential benefits to the buyer. Few know how to ask the right questions and uncover the buyer's true needs and wants. Even fewer know how to complete the sale successfully through firm, impartial negotiation.

Realtors are skilled intermediaries with considerable ability to market your home successfully. Wouldn't you feel a lot more comfortable knowing an experienced realtor is on your team negotiating the highest price possible for your home?

Are you up-to-date on real estate and contract laws?
Remember when you bought your home and had to deal with all these papers thrust in front of you for your signature? Well, selling your home is equally complex from a contractual and legal standpoint. If you attempt to sell it yourself, you will either have to prepare all your own legal documents when an offer comes in, or translate the language in the offer presented from the buyer. In the excitement of receiving an offer, are you confident you will be able to recognize terms and conditions that are not in your best interest, or worse, are legally risky? Realtors know how to protect you from these potential legal pitfalls, and will work to help ensure your interests are properly protected.

Let a realtor help you sell your home.
Most of those who sell their homes do so with the assistance of realtors. Of those that try to do it themselves, most change their minds and end up going with a real estate professional, because the process is too complex, too time consuming and too dangerous without the help of a professional. Working with a licensed professional to sell your home, someone who is a member of a Real Estate Association, entitles you to an exceptionally broad range of services and benefits unavailable to do-it-yourselfers.

Please call the Mayer Team

Allen Mayer Salesperson Vice President Commercial Division

Right at Home Realty Inc. Brokerage

Direct Line 416.633.7767

www.allenmayer.com

Healthy December Sales = Best Year Ever 

January 7, 2008 -- A healthy 4,646 sales in December propelled 2007 sales to a record setting 93,193 sales, TREB President Maureen O'Neill announced today. "Year-end sales are up 12 per cent over last year and up 11 per cent over the 84,145 recorded during 2005, the Toronto market's previous best-ever annual performance."

On a year-over-year basis, prices rose seven per cent to $376,236 from last year's $351,941. The annual time-on-market figure stood at 32 days versus 2006's figure of 34 days, meaning that over the course of the past two years it has taken homes within the GTA barely a month to sell on average.

Breaking down the total, 1,756 sales were reported in TREB’s 28 West districts and averaged $357,711; 1,057 sales were reported in the 14 Central districts and averaged $531,366; 771 sales were reported in the 23 North districts and averaged $420,508; and 1,062 sales were reported in TREB’s 21 East districts and averaged $302,113.

NEIGHBOURHOOD CORNER

City of Toronto

The City of Toronto (E-1 to E-11, W-1 to W-10, and C-1 to C-15) recorded 39,052 sales in 2007, up 13 per cent over the 34,404 recorded in the previous year. Prices averaged $415,041, up 10 per cent over 2006.

Power of Sale: The legal right of the mortgagee to force the sale of a property without judicial proceedings if a default may occur. Power of Sale is frequently used by the lender to remedy a default by a mortgagor. This action may only take place due to the inclusion in the mortgage document.

Notices: The mortgagee must wait for a minimum of  15 business days. Once this period expires a notice  is issued  exercising the power of sale. This notice must allow at least 35 days to remedy the problem. After the 35-day period has expired, a sale may take place. However the Mortgagee has a fiduciary responsibility to the Mortgagor to attain the full market value of the property.

Allen Mayer
www.commercialtoronto.com

www.allenmayer.com

H I S T O R Y Caribou Park was formerly part of a farm owned by a pioneer named Thomas Snider who resided here from the 1830's to the 1870's. The Snider farm took in the entire present day neighbourhood and also included land west of Bathurst Street. Remarkably, the Snider farm house is still standing on the western edge of this neighbourhood at 519 Glengrove Avenue. The Snider house is hidden from the street by two towering blue spruce trees that stand guard over this historic house. Following Thomas Snider, the next name to appear on city maps of this area is that of John H. Watson, whose family resided here from the 1870's up until the early 1900's. Another house which was built when this area was still farmland is number 43 Kimbark Boulevard. This cobblestone house was built in 1906 by a stone mason from Scotland, and is listed on the Toronto Historical Board's Inventory of Heritage Properties. The rest of the present day neighbourhood was laid out in two separate plans of subdivision registered in 1910 and 1912. However the actual building of houses in Caribou Park did not commence until the 1930's.

ALLEN MAYER
Vice-President
Salesperson
Right at Home Realty Inc. Brokerage
DIRECT LINE: 416.633.7767