Exclusive Information from the Team Bush Home Selling Team
What the heck is going on in the Real Estate market?
2023 is going to be a much more stable year for real estate as we head back to a more normal balanced market. What we are seeing is a move back to more of a pre-covid market. The Bank of Canada is looking to moderation in the future as it assesses the market reaction to the recent rate increases. Interest rates appear to have leveled off and this will add needed stability. This stability is broadly expected to remain throughout 2023. Home sales have softened along with the price corrections, but is good that many industry experts believe that we have hit bottom.
For sellers, if a move was in your plans, now is a good time to consider getting it on the market before the spring flood of homes. Many people wait to put their home on the market in the spring, but you would be competing with more homes on the market. Homes are taking longer to sell and buyers are more savvy with more homes to choose from so preparation and pricing is critical to win in this market. We offer free in-home or on-line consultations to determine the market value of your home and advice on how to achieve the highest price for your home. A silver lining for purchasers considering moving to a larger home, this market traditionally is one where the cost of moving up is at an all-time low. We can provide the list of those luxury homes should you be in that category!
Buyers are now having more selection of homes to choose from, and they can include conditions such as home inspection, and financing. The day of holding offers and competing for homes has been greatly reduced. It’s a much friendlier environment to purchase a home! Prices have come down since the peak in February 2022. Today you can make a smart, educated offer.
Buying or selling a home is a process with many things to consider. For many the starting place is getting pre-qualified for a mortgage. Once you understand your finances, searching for a home becomes much easier. Of course, we can refer you to trusted mortgage advisors if you do not already have one. Once that is behind you, then the fun begins! We can provide lists of on and off market properties that match your criteria. Then we get you inside! Once we find the right home, we can negotiate the best price and terms and then further add conditions to protect your interest.
To get started give us a call/text at 905-308-1877 and we can help you map out what are your best next steps. We are here to help empower you with up to the date information to make the best decision.
3 Tips for Renting Out your Space for Additional Income
(NC) According to a recent poll, four in five Canadians who are interested in hosting on short-term rental platforms like Airbnb cited additional income as the main reason they would open their home. There is demand from everything from spare bedrooms to cottages and listing space is easy, simple and secure.
With many Canadians looking for accommodations, it is ideal to try out hosting for the first time. In fact, some short-term rental sites estimate you could make as much as $830 per month just by sharing a room in your home.
To help you start earning some extra money, and maybe even make some new friends, follow these tried and true steps:
- List your space for free on a site. Whether you have a second bedroom or a second home, you can offer your extra space with no sign-up charges or membership fees. Be sure to check local laws to see what restrictions there may be on hosting in your area. Remember to include plenty of high-quality pictures to show off your space and increase interest from potential guests.
- Decide how you want to host. Hosting gives you the flexibility to choose your schedule, price and requirements for guests. Ensure your online hosting service allows you to list house rules like no pets, parties or smoking and check to see if they provide a host guarantee or insurance.
- Welcome your first guest. Once your listing is live, it’s ready to book. Make sure that the site you use offers a mutual review system and a secure method to communicate with guests ahead of their stay. Be sure to provide check-in instructions including contact information, Wi-Fi passwords, your neighbourhood guide, house rules and any other vital information guests may need to get situated and comfortable. Local tips and recommendations go a long way towards creating a truly memorable stay.
If your current home doesn’t have the space for income opportunity, then consider purchasing a new home that allows you the ability to rent out space and generate passive rental income.
You can get free hotlist of homes for sale, in your price range and criteria now, go to: www.AwesomeHomesList.com
WOULD YOU SELL YOUR PRESENT HOME IF YOU FOUND YOUR DREAM HOME?
As you may have heard, the best deals and discounted homes rarely make it onto home search sites and many sell before they are listed with an agent. This makes if very difficult to find your DREAM HOME. Not to mention, the thought of selling your current home can also be scary especially when you trying to find your next home.
WE HAVE A SOLUTION!
Our exclusive VIP Home Finder system helps Buyers find the PERFECT home. Simply tell us exactly what you’re looking for and we will find it. We invest the time and marketing dollars to specifically target the neighbourhoods you are interested in to find you the perfect home, including homes that are not yet listed for sale or available to the public. This means you’ll know about these unlisted homes before other buyers allowing you to negotiate the best price possible.
So, if you have been searching and not finding your ideal home, let us help!
Simply fill out the form at: www.HelpFindMyDreamHome.com
Tell us exactly what you’re looking for in your DREAM HOME; the location, style and price range that your are interested in and we will show you ideal properties that aren’t publicly listed!
Feel free to contact us directly with any questions or to discuss your DREAM HOME search by calling or texting 905-308-1877.
REAL ESTATE INVESTOR CORNER
Building Wealth Through Real Estate
67 Weir St, Hamilton
$450,000 – Positive Cash Flow!
403-16 Markle Cres, Ancaster
CONDO UNIT $564,900
1158 King Rd, Burlington,
COMMERCIAL UNIT $629,900
CASH FLOW PROPERTIES
Turn Key Real Estate Investment Opportunities. Guaranteed Cash Flow or We Pay You the Difference!*
FOR MORE INFO ABOUT INVESTOR CORNER OR CASH FLOW PROPERTIES, INCLUDING A FREE LIST OF AVAILABLE HOMES FOR SALE, CALL US AT 905-308-1877
DID YOU KNOW…
WE DONATE $$ FROM EVERY HOME WE SELL
As you may have heard, CityKidz does amazing things for the children living in the Hamilton area. We are thankful to have such a wonderful organization in our community that give of their time to reach out to over 2000 children every week by providing them programs, meals and a chance to thrive in less desirable circumstances so they can achieve their dreams.
CityKidz depends on volunteers and donations to help them invest in a different outcome for children living in poverty.
This is why we here at Team Bush – Your Home Sold Guaranteed have resolved to do what we can to help. For homes we sell this year, we are donating $10,000 or more to help them in their quest to Break The Cycle of Poverty in the city of Hamilton. This is where you can help!
Who do you know considering making a move you could refer to our award-winning real estate sales team? For anyone considering a move that we help, you can rest assured that not only will they get the award-winning service we are known for, but that a solid portion of the income we receive from the transaction will go toward a very worthy cause.
We want to make it easy for you to refer your friends, neighbors, associates or family members considering making a move. Call us at 905-308-1877, Email: firstname.lastname@example.org or you can fill out our online form at www.HelpTheKidz.com
You and your referrals mean more than ever to our team. As we move forward in this new season, please know we are extremely thankful for you and your being a special part of our business.
YOUR REAL ESTATE MARKET UPDATE
2022 marked a year of adjustment in housing demand across the REALTORS® Association of Hamilton-Burlington (RAHB) real estate market area as sales activity eased by 30 per cent over the near-record highs achieved in 2021. Rising lending rates, previous price gains and limited supply options weighed on potential purchasers. At the same time, new listings continued to grow in the region, but only for homes priced above $800,000. The pullback in sales was enough to support inventory gains across all price ranges by December. While inventories have nearly doubled, levels reported in 2022 are still nearly 20 per cent below long-term averages for the region. Moreover, supply levels remained well below typical levels for homes priced below $600,000.
Across the RAHB real estate market area, easing sales and rising supply have shifted the market from the extreme sellers’ market conditions at the beginning of the year to one considered relatively balanced. The shift took some pressure off home prices, which hit a record high in February but declined 25 per cent by December. While the price adjustment within the year was significant, it is important to note that as of December, prices remain over 16 per cent higher than pre-pandemic levels. On an annual basis, prices are still nearly 10 per cent higher than in 2021.
Hamilton saw 6,923 sales in 2022, activity eased by 32 per cent from last year’s record high. Rising lending rates, limited supply choice and earlier price gains were all contributing factors. As the year progressed, new listings increased and inventory levels rose from record low levels. This helped shift from a strong sellers’ market to one relatively balanced.
The adjustment in the real estate market also weighed on home prices which started to trend down in March after hitting a record high. As of December, benchmark prices dropped by 25 per cent from the peak and 15 per cent compared to December 2021. Despite the adjustment in prices, levels remain over 16 per cent higher than prices reported at the end of 2021.
Sales activity fell across all property types this year. Despite a drop in sales, the apartment condominium sector continued to outperform the long-term average for the area, as more inventory relative to historical levels gave consumers more choice in this property category. While the shift away from a seller’s market did impact home prices, the adjustment from the peak has been more significant in detached and semi-detached properties. Nonetheless, the downward pressure on prices did not offset all early gains, as annual figures were still positive across all property types.
CONTINUE READING THE RECENT REAL ESTATE MARKET STATS ON OUR BLOG, click button below
You can get any update on the market based on your current address. This will give you an idea of what your home is worth, and we will include what is selling in your area. Also, get tips on how to increase the money in your pocket at closing. If you would like this update please give us a call at 905-308-1877.