The Fighting Knights 2010 Summer League Champs

Yes it is only Men's hockey but you could have fooled me! You would think there were scouts in the crowd...Lol.  The level of competition this summer was incredible, especially the playoffs. Everyone was a little giddy last night and rightfully so; everyone from both teams left everything out on the ice. It was a real guts and glory game which ended 2-1 with the game winner coming with only 1:30 left on the clock. I think the goal scorer's each walked away with a Gordie Howe hat trick!

Nice to see the losing team at Monaghans in Oakville, and yes we did buy them a pitcher of beer - they deserved it for their efforts.

Cheers!

David

Let me know if you see or hear about any good deals!

Let me know if you see or hear of any good deals…

This is often a remark I hear from people when we are parting ways or if we speak on the phone. Have you ever said this to a Realtor?

If yes, this is the time of the ‘good deal’ for investors and first time buyers; Prices are down, interest rates are lower than in months past, and inventory is slightly up.  Houses are taking much longer to sell.

However the market is not in a crash mode or spiraling out of control, it is in fact very much in balance. So where are the deals?

In order to answer that question the reasons for selling must be considered. Most sales are ‘move up or move down’.  These take up most of my inventory at any given time. Undoubtedly though, there are houses where the three D’s come into play: Debt, Divorce, and Death.

When the market is hot the three D’s do not come into play, nor do Power of Sales; there is no reason to discount as they will sell despite the circumstances for selling. Of course in a flat market that all changes.

So why is there not a surge to pick up lower priced properties?

One major reason is the new government policy requiring a 20% down payment on investment properties. There are creative ways around this - (contact me for details) , however the simplicity of drawing out 10% from your savings to jump on a good deal is lost. Another reason is that prices have not really dropped yet, and the general awareness of lowered prices may not be evident until October or November.

If you are ready or curious about an addition of an investment property to your portfolio, then let’s talk. After all you probably asked “Let me know if you see or hear of any good deals”….  yes I have!

David Smeriglio

Sales Representative/Owning Partner

Sutton Group Icon Realty Inc. Brokerage

905.848.1313

Luxury 1+1 in Quaint Port Royal.

Literally a 5 Minute walk from Kipling subway and walking distance from Islington Village and Kingsway Village (Bloor/Islington). Rare ground floor oversized 1+1 with 2 full baths and a 100sqft + patio. Take the tour!

Back from Holidays and eagerly awaiting Market update

Just back from a two week holiday in and around the east coast of New Brunswick. Every time we go we have a want to buy a small home near the beach along the coastline. Perhaps one day this will become a reality.
I am quickly reminded of the fast pace we live in as soon as we hit highway 401 and the 10+ lanes of traffic barreling down at 130KPH. But it does feel good to be home.

June statistics continue to point towards a steadying balanced Real Estate market. Some headlines, no doubt pining for a juicy story, want to focus on sensationalistic numbers which are usually only clarified deep inside the article. The number du jour is "a 23% drop in sales". In reality this does mean there are fewer buyers on the market, however there is also less inventory so prices have stabilized. Also the 23% drop is versus June of 2009, which was one of the busiest months in the history of the Toronto Real Estate Board.

I look forward to the July numbers which should reveal the trend we are currently experiencing.

David