March 17, 2008
Selling your home?
Consider a Pre-Listing Home Inspection.
With a more competitive, balanced market upon us, many sellers want to know what they can do to make their home sell faster and for more money. Besides pricing it and staging it correctly, a pre-listing home inspection can create a competitive advantage for the informed home seller.
While it is normally done before a home goes on the market, it can be done simultaneously with listing provided the results are received quickly and any necessary changes made to the property disclosure.
A pre-listing inspection creates several advantages for a smoother home sale both for the seller and the buyer. For the seller, the pre-listing inspection reveals any unknown problems that could create issues later and gives the seller the chance to research the proper remedies without the added stress of having a buyer waiting in the wings.
Additionally, while even a brand new home can have a long list of minor things that need to be fixed or addressed, having these things revealed in the pre-listing inspection gives the seller the opportunity to take care of things that while not major issues, could scare a first time home buyer away or leave a poor impression about the home or the manner in which it is being maintained.
For the buyer, seeing that a seller cares enough and is motivated enough to have their home pre-inspected can create a good impression and relieves some of the stress normally associated with the purchase of a home. While buyers and sellers may not always agree on price, knowing that a home is in good condition or has no hidden defects can be reassuring to a buyer and may make them more likely to offer fair price for a home vs. having so many unknowns out there that could result in a lower offer.
If you are selling a pre-inspection is something you should consider carefully.
March 12, 2008
Commercial real estate report
Toronto Real Estate Board reports 800,000 square foot plus month
In February, Toronto Real Estate Board Members reported 844,348 square feet of space leased through the TorontoMLS system, Commercial Council Chair Garry Lander announced today. “This figure is up marginally over January’s 842,475 square foot total, and we should see those figures climb even higher as the IC&I Spring market gradually takes off.”
Lease rates remained relatively unchanged from their year-ago levels, with Industrial space trading for $5.84 sfn and commercial space going for $15.23 sfn.
Sales Market Highlights
In February, TREB Members reported 63 sales of IC&I properties. Of these, 38 were Industrial properties of all size categories, which averaged $109.38 per square foot. This compares with a price of $72.57 per square foot derived from non-MLS sources.
See copy of February’s Commercial Realty Watch.
March 12, 2008
Raising the bar for renovations
There’s a new, much-needed, resource that consumers in the Toronto area can use to both find reliable trades people and warn others about those who haven’t measured up. It comes in the form of an on-line directory called HomeStars.ca and is billed as a website aimed at “keeping the trades honest” through reviews posted by consumers. Launched six months ago, this service is to the renovation world what Zagat is to the food and hospitality industry.
It’s definitely a different animal from websites that merely list contractors, trades people and suppliers who have paid a fee to advertise on the site. While those sites are helpful in finding contact information, there’s usually no indication whether the companies listed are recommended, highly or otherwise, by past customers. HomeStars.ca gives us that in an on-line directory where “consumers can read and write real reviews on renovators, retailers and repairmen” in the greater Toronto area.