Luxury Real Estate in Toronto -A blog by Patricia Connell

A Little About Me

Thanks for stopping by.  I am an award winning agent specializing in Luxury Real Estate in Toronto.  

I have lived in Toronto all of my life and I am a graduate of the University of Waterloo.

After completing my University degree I worked in the health care and automotive industry.  I have over 20 years of sales and marketing experience.

While catering to the automotive and healthcare needs of Toronto's elite I learned the importance of service.  I have transferred this skill to the real estate world.

I have a unique ability to tailor the buying and selling process for each individual client.

I am a skilled negotiator with a track record of excellent results for my clients.  I have a genuine desire to strife for the best possible outcome for every client.

I work to provide a professional, private and confidential experience with superior results.

For more information, or to be included in my popular email list, visit my contact page.

To Read what past clients hve to say about working with me, take a look at my testimonials.

I hope to hear from you and am never too busy to lend advice or assist any of you referrals.  Enjoy browsing some of my luxury real estate blog posts through this link.
http://www.luxuryrealestateintoronto.com

HERE IS A LITTLE HISTORY OF ROYAL LEPAGE

Summer 2016 Newsletter

Here is a link to my Summer 2016 Newsletter.  I hope you enjoy it. Contact me anytime with any Real Estate Needs you may have.  I would love to help you with your NEXT MOVE!

http://www.royallepagemc.ca/20/71220/655604/

May 2017 Market Stats

May 2017 Market Stats

May 2017 Market Stats
Toronto Real Estate Board has reported May 2017 total sales were down by 20.3 per cent compared to sales reported in May 2016. Sales of detached homes were down by 26.3 per cent. Sales of condominium apartments were down by 6.4 per cent.  The number of properties available for sale at the end of May were up by 42.9 per cent compared to the lowest level in 15 years recorded in May 2016, but remained below the average and peak during that period.

Which Comes First… Marriage or Mortgage?

Which Comes First… Marriage or Mortgage? | MyKCM

According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2017 at 57% of all buyers. It is no surprise that having two incomes to save for down payments and contribute to monthly housing costs makes buying a home more attainable.

But, many couples are also deciding to buy a home before spending what would be a down payment on a wedding, as unmarried couples made up 16% of all first-time buyers last year.

If you’re single, don’t fret! Single women made up 18% of first-time buyers in 2017, while single men accounted for 7% of buyers. A recent report pointed to a sense of responsibility and commitment that drives many single women to want to own their own homes rather than rent someone else’s.

Here is the breakdown of all first-time homebuyers in 2017 by percentage of all buyers, income, and age:

Which Comes First… Marriage or Mortgage? | MyKCM

Bottom Line

You may not be that much different than those who have already purchased their first homes. Let’s get together to determine if your dream home is already within your grasp!

ADVICE & TIPS TO REACH YOUR REAL ESTATE GOALS IN 2019

 

It’s January, and it’s time to set your sights on the year ahead. Whether you’re hoping to buy a condo in 2019, sell your family home, move up in square-footage, or downsize to a turnkey lifestyle, here are six tips  to help you reach your real estate goals in 2019.

 

Ask yourself why you’re buying or selling

 

We say it a lot, but working with a professional real estate agent is a smart decision. I beleive one of the greatest value adds of working with an agent, and it begins with asking the question why. Why are you buying or selling?

The goal is to find a real estate agent that wants to know the answer to that question, who wants to dig deep to find a true answer beyond the surface level reason of “I think I should” or “It seems like the right time.” Someone who can then say, “Well, actually, given the trends in your neighbourhood or building it’s smarter to keep this property and actually buy something else over here.”

Find a real estate agent who is thinking about your future beyond the point of buying a condo or selling your home. A real estate professional who is invested in your future, thinking 5-10 years down the road, will fully understand the needs of your current situation.

Find an agent that fully explains how they are going to make the buying or selling process easier for you. There’s a huge difference between a generalist agent versus an experienced neighbourhood specialist. A specialist will know a lot more about properties in the area because they’ve explored the buildings, learned the ins-and-outs, and gained the knowledge of small differences between buildings that may “look” similar but have very different maintenance fees or maybe they know which buildings offer units with better accessibility features because they’ve actually walked the wider hallways and stood in front of the lower sinks in the bathroom.

The true value of a real estate agent is hard to define because if you’ve experienced it you probably didn’t even notice. And that’s the key. The experience was seamless and as stress-free as possible that you went on living your life as usual until it was time to sign the paperwork.

 

Keep an eye on interest rates

 

While the Bank of Canada held the key interest rate at 1.75% in December, I will remind buyers to be aware of potential interest rate hikes in 2019. If buying a condo or a home in Toronto is your goal, you should act proactively and try to lock in a rate with your bank!

 

Keep an eye on the market

 

When it comes to setting your goals, I  suggest you keep an eye on the market from now until the time you become active. Just because you see an MLS listing listed at one price, doesn’t mean it will sell for that price.

Keeping an eye on the market will allow you to have a much more realistic gauge on the market to see if what you are looking for and what you can afford actually go hand in hand. If you’re planning to wait for the spring market to start your search for home, it’s a good idea to know exactly what is realistic so that you don’t end up overwhelmed and lost within the frenzy of that particular real estate season.

 

Know how much you can realistically afford

 

Being realistic is key. For buyers,I highly recommends you get a mortgage pre-approval before you start shopping for a condo so you can know your affordability. Imagine going shopping with a Visa card, but you didn’t know its limit. It would be horrifying getting declined at the cashier desk. In real estate the stakes are much higher!

If you’re thinking of selling this year, think about the value of staging. Buyers need to be able to visualize themselves living in your home. Before putting your Toronto home on the market, you need to stage and accessorize to bring out it’s best features. If your furniture fits the bill and your home doesn’t need much staging it most likely needs neutralizing to optimize the space(s) for its best use. Staging is known to decrease the time your home sits on the market, and staged homes often sell for more than vacant or non-staged ones.

 

Sellers should try to beat the market

 

No doubt, this spring will once again see many sellers coming out, and I beleive you should try to beat the market. If you’re selling, try to get your property on the market before everyone else does. Don’t think you need to wait until the middle of spring to sell. The buyers are out there, and they will always buy the right unit. Limit your competition and put yourself in a strong position to sell.

A strong position means being realistic. Study the market and have an honest conversation with your real estate professional about your goals and work together to ensure they are accomplished. Communication every step of the way is key.

 

Buyers should try to know the market

 

By the same logic, I suggest buyers should enter the market in the “offbeat.” We know when seasonal slowdowns and spikes are. For buyers, there may be less to choose from in slower periods of the year, but the competition is likely less fierce which will save you money in the end.

Having a trusted advisor in your corner, someone with their finger on the pulse of the market who can tell you when the slowdown is starting or when things look like they are ramping up will boost your bottom line whether buying or selling.

In addition, I reccomend sellers to be proactive with any renovations. Consult your real estate agent early enough to make sure contractors will be willing to do condo work in the winter months remaining. Many contractors don’t want to deal with the hassle of home renovations and will charge large premiums if you need them to be done in the summer.

 

Bonus: Are you an aspiring real estate investor?

 

Finally, Here are 5 tips for first-time real estate investors. If you’re goal in 2019 is to launch a real estate investment portfolio with pre-construction purchase or in the resale market, My first tip is that you should get a mortgage pre-approval.

You want to find out how much you can responsibly borrow for your investment – speak with a professional broker to fully understand your financial situation to help you leverage existing assets to reach your target amount. 

 

Good luck with your real estate goals in 2019!

Advice & Tips to Reach Your Condo Real Estate Goals in 2019
Patricia Stafferton-Connell is a President's Gold Award Winner - making her Top 6% Real Estate Agent in Toronto