Frank Fu Feng

416-800-5898

Re/Max Realtron Realty Inc., Brokerage

www.realtyfrank.com

Mobile: 416-800-5898

Dear Sir/Madam,

At this time of year, it’s not uncommon for homeowners to think about any repairs or renovations needed in and around their property. For example, you might be considering remodelling the living room or doing a kitchen renovation.

The good news is, investing in your home often pays dividends. You enjoy your property more, and it might even increase in market value.

However, it can sometimes be a challenge to find the right contractor or other professional to do the work.

If that’s your situation, I may be able to help.

No, I won’t show up at your door wearing a tool belt! But, I do have an extensive network of trusted professionals in the local “home” industry. So, if you need a recommendation for a contractor, designer, repair service, or other professional, give me a call. I may be able to provide you with a name.

And speaking of recommendations, if you know anyone who is looking for real estate help, I’d appreciate it if you gave them my name. I’d be happy to answer their questions and provide any advice and assistance they need.

GTA REALTORS® Release March 2024 Stats

GTA Real Estate Market Update by Toronto Regional Real Estate Board

TORONTO, ONTARIO, April 3, 2024 – March 2024 home sales reported through TRREB’s MLS® System were lower than the March 2023 result, due in part to the statutory holiday Good Friday falling in March this year versus April last year. Despite a better-supplied market compared to last year, there was enough competition between buyers to see a moderate increase in the average March home price compared to last year’s level.

Greater Toronto Area (GTA) REALTORS® reported 6,560 sales through TRREB’s MLS® System in March 2024 – down by 4.5 per cent compared to March 2023. New listings were up by 15 per cent over the same period. On a seasonally adjusted monthly basis, sales were down by 1.1 per cent. New listings were down by three per cent compared to February.

The first quarter ended with sales up by 11.2 per cent year-over-year. New listings were up by a greater annual rate of 18.3 per cent.

“We have seen a gradual improvement in market conditions over the past quarter. More buyers have adjusted to the higher interest rate environment. At the same time, homeowners may be anticipating an improvement in market conditions in the spring, which helps explain the marked increase in new listings so far this year. Assuming we benefit from lower borrowing costs in the near future, sales will increase further, new listings will be absorbed, and tighter market conditions will push selling prices higher,” said TRREB President Jennifer Pearce.

The MLS® Home Price Index (HPI) Composite benchmark was up by 0.3 per cent year-over-year. The average selling price was up by 1.3 per cent to $1,121,615. On a seasonally-adjusted month-over-month basis, the MLS® HPI Composite was up by 0.2 per cent and the average selling price was up by 0.7 per cent compared to February. “The average selling price edged up in comparison to last year as we moved through the first quarter of 2024. Price growth is expected to accelerate during the spring and even more so in the second half of the year, as sales growth catches up with listings growth and sellers’ market conditions start to emerge in many neighbourhoods. Lower borrowing costs in the months ahead will help fuel increased demand for ownership housing,” said TRREB Chief Market Analyst Jason Mercer.

“As demand for ownership and rental housing increases, supply will continue to be top of mind. Governments at all levels must maintain their focus on pursuing innovative solutions to increase the amount and mix of housing supply to improve affordability. This includes removing roadblocks to non-traditional arrangements, such as co-ownership models to benefit home buyers, including first-time buyers and seniors. Encouraging gentle density, including multiplexes, is critical to helping high demand areas such as the Greater Golden Horseshoe to meet housing supply targets,” said TRREB CEO John DiMichele.

Best Regards,

Frank Fu Feng

Direct: 416-800-5898

www.realtyfrank.com

Fix it or Leave it As Is?

When you’re preparing your home for sale, you obviously want your property to look its best for buyers. That means fixing things that are broken, and, possibly, making a few improvements.

But, how do you decide whether to invest in fixing or improving something versus just leaving it as is?

Say, for example, the walls throughout your home are a bit faded. (They’ve gone through a lot of living!) You can get all the dents and holes filled and repaint the entire place. That would definitely make a huge difference in how your property looks to buyers. Or, you can choose NOT to do that project in the hopes your home will “show” well regardless.

There are a few things to consider before making that decision:

How much will the fix or improvement cost?
How much better will your home look to buyers?
Will the fix or improvement help sell your home faster?
Will the fix or improvement help sell your home for a higher price?

Once you have those answers, you’ll be in a much better position to make that decision.

By the way, painting is almost always a smart move when preparing your property for sale. The impact can be dramatic, and the cost is relatively low.

Selling your Home when You’re “Crazy-Busy”

Let’s face it. We all get busy at times. Sometimes we get “crazy-busy.” The trouble is, if you’re thinking of selling your property, having a jam-packed schedule might make you want to put off listing until a later date.

And, who knows what the market will be like later in the year?

The good news is, you can sell your home, even if you’re busy. There are plenty of ways to reduce the time, effort and stress involved.

The first step is to find out what needs to be done. Make a list. Turn that list into a plan and get that plan down on paper. That way, the process won’t just live in your imagination — where it might seem much bigger and more intimidating than it really is. Instead, it will be realistic and practical.

The next step is to see what can be done by others. If your schedule is already hectic, you want to minimize what you do on your own and outsource where possible. For example, you could hire a cleaning company, junk removal service, professional stager, and/or tradesperson. Of course, you’ll need to weigh that expense against the time you’d save, but it is often worth it.

Staying organized is also essential. When you’re busy, effective organization tools — to-do lists, calendar, scheduling app, etc. — will be your best friends. The more organized you are, the more you’ll feel on top of things.

Finally, get talking to professionals who are going to be able to help you — and even shoulder some of the heavy lifting.

The bottom line? Don’t let being “crazy-busy” prevent you from taking advantage of the opportunity to sell your home.

Starting a Backyard Garden

Not every homeowner is willing or able to dedicate backyard space to a big garden, but the size of your garden shouldn’t deter you from looking into options for a very rewarding hobby.

Whether through simply growing a few herbs or flowers in containers, or by tilling a plot for bountiful harvests, gardening is known to improve physical activity and help reduce stress. Furthermore, tending to plants can help us develop personal resilience and learn to embrace acceptance on a psychological level. If you are a beginner, do not dismay – you will be surprised at the advice you can easily gather just by researching online or at a garden-centre.

Start with a plan based on the time you want to invest and the results you want to achieve, such as abundant foliage or luscious fruits and vegetables. Although each type requires specific care, indigenous plants tend to be hardiest. After determining growing schedules and sunlight requirements, you need to decide when and where to plant. Make sure taller species do not overshadow neighbouring sunlight-seekers, but also avoid over-exposing those needing shade. Before planting seeds or transplanting slips, condition the soil with recommended nutrients, and ensure water is readily accessible.