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Newsletter March 2011

Stephanie Mulvina
Stephanie Mulvina

Ten easy ways to update your home for resale are outlined. These include cleaning, painting, replacing fixtures, decluttering, and doing landscaping to increase curb appeal. Three new mortgage rules coming into effect are described that will reduce amortization periods, lower refinancing amounts, and withdraw insurance on lines of credit. A client testimonial praises the Mitchell team for their professional service in finding a buyer during a tough market.

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Real Estate Market Watch Our Service Will Move You! REALTY CENTRES, BROKERAGE Independently Owned and Operated Weve Helped Over 3100 Families Make Their Move! www.TheMitchellBlog.com Volume 2, Issue 2 In This Edition: Ten Easy Ways to Update Your Home for Resale What exactly is Home Staging? It is preparing the home for the real estate market so that it is appealing to potential buyers and stands out Ten Easy Ways to Update amongst the competition. And the reason this is important is to get Your Home for Resale the house sold as quickly as possible at optimum price! 3 Mortgage Rules Coming Into Effect 1. Steam clean carpets and consider installing 7. Increase the curb appeal of your home by Kids Corner hardwood flooring or ceramic tiles. planting flowers or placing planters in the front and back yards. Understanding Your Local 2. Paint walls in a neutral but pleasing hue. Real Estate Market 8. Use a lightly scented oil to add a fresh scent 3. Replace the faucets in your bathroom; to your home. Similarly, putting on a pot Customer Testimonial stylish and contemporary fixtures, such as of coffee or baking a cake produces pleasant Yard Sale Savvy the Arzo Bath Collection by Delta, exude a smells that evoke the feeling of home. Market Watch luxury feel at an affordable price point. 9. Depersonalize your home by removing Meet the Team 4. Change a toilet, sink or counter to a family photographs to help potential neutral tone for an instant update. buyers envision themselves in the space. Seminar 10. Help the homeowner see the possibilities; Homes For Sale 5. Paint the tiles in a bathroom or the kitchen set the table for dinner with flowers, fine to inexpensively upgrade a space. dishes and cutlery or run the bath and add Buy or Sell with 6. Do an all over clean-up and purge of your floating candles, leaving out a robe or a set home. Prospective buyers often cant see of fresh towels to enhance the feel of a Tom & Diane Mitchell and beyond clutter. spa-like setting. Use this Truck for FREE* 3 Mortgage Rules Coming Into Effect March 18, 2011 homes, such as home equity lines of credit, or 1. Reduce the maximum amortization period to HELOCs. If you have any questions about your 30 years from 35 years for new government- Mortgage and/or if you are in the market to backed insured mortgages with loan-to-value purchase, we can put you in contact with ratios of more than 80 per cent. a knowledgeable mortgage broker to discuss 2. Lower the maximum amount interest rate trends and the impact Canadians can borrow in on affordability, and which mortgage strategy refinancing their mortgages to will fit your needs. 85 per cent from 90 per cent of Call 905-898-6300 or email the value of their homes. admin@themitchellteam.com April 18, 2011 3. Withdraw government insurance backing on lines of credit secured by Courtesy of Bill Nugent, Dominion Lending Centres *Some conditions/restrictions apply. Subject to availability. Available to charities Free No Obligation Market Evaluation Of Your Home 905-898-6300 www.TheMitchellTeam.com
Mitchell Understanding Kids Corner Yo u r L o c a l R e a l E s t a t e M a r k e t Experts always say that real estate is a great more homes available to buyers, the harder it investment because the value of homes is will be for sellers to move properties. Most Hello, always going up. To some extent, theres truth communities have some new construction, in that. But its also a fact that the real estate but the key is to determine if it is outpacing Boy this winter sure has been cold with market fluctuates. Many people mistakenly the demand. lots of snow so far! Not that I am rely on national trends when evaluating the Increased job growth and in-migration. complaining because it gives me lots of real estate market, however, this could at Where there is strong growth, there are new skiing options! Ive been working on my times be misleading. The key is to focus on workers. New workers need some place to and understand your local market. live. A vast percentage of these people will be G-1 and hope to be licensed soon. Driver training has been very helpful Focusing on your local real estate market is moving in from other areas and often are but for now if you see me at the wheel of the key to evaluating real estate deals. This bringing money from a previous home. If job however could be difficult to evaluate since growth is strong, your real estate market my parents car beware Just kidding of there is often less information on particular should be stable and showing appreciation. course! With regards to my hockey team areas versus the national situation. To Real estate doppler effect. Real estate is weve been put out of the Ontario understand your real estate market, here are a governed by the law of cause and effect. playoffs and now we are back in the York few factors to focus on. Positive situations cause positive outcomes, Simcoes. Hope we win it! Understand the market trend. Sometimes and vice versa. For example, a vibrant its a buyers market and sometimes its a economic growth leads to a vibrant real estate Megan is back at University busy with sellers market. And there are actually other market and strong appreciation of homes, school and comes home some weekends. times when the real estate market is in while loss of jobs and a languishing economy I like to think its to visit with me but I transition. A transitional real estate market produce exactly the opposite effect. really think its to ride her horse Ruby. poses certain issues for people who are buying The conditions that make a good market can Jay is back in Switzerland on the home and selling homes and you should be aware of change literally overnight. All it takes is the stretch of her MBA program. She them. This is especially true for anyone entrance of a major employer or a little word graduates in May of this year and as you involved in real estate right now because the of mouth and buyers looking for a bargain all know by now the big wedding date is real estate market in many areas is either in and seeing others take a chance, and before fast approaching! July is the Month! transition or could be in transition shortly. you know it, a neighbourhood has turned Supply and demand. Real estate is governed around. Homes that sat unsold are selling for Well for now, stay warm! After all, by the law of supply and demand. This rule high prices. Young people are moving in, Spring is just around the corner. is absolute and without exception. The making improvements, and making the area appreciation of a market, the expectations of cool to live in. Luke buyers and sellers, and the velocity of market If you are thinking of buying or selling a sales are all dictated by the supply of, and the property, consult with your local real estate demand for, real estate for sale. agent. He or she is equipped with the right New construction is another area to consider tools and knowledge to insure your when evaluating your market. In this case, we investment is a successful one. Yard Sale Savvy are focusing on supply and demand. The If youve got it, flaunt it! MARCH CHECKLIST APRIL CHECKLIST Clean or replace Remove snow and Clean oven and Sort winter clothes Certain items are always in high demand furnace filter ice from roof refrigerator for tossing, donating, Vacuum walls, Inspect attic, overhang and sale or storage at yard sales. If you have them, mention vents baseboards, furniture Set aside garage sale Transplant and move basement and Check smoke items, drop off tem in Newspaper Ads, Flyers, Kijiji or crawl space plants that are still donations and haul Check sump pump Craigs List. Remember to display those alarms and dormant or just garbage to the dump CO detectors Clean range hood starting to wake up or dumpster these items prominently; Check water Reseed patchy areas Check sprinkler filter curbside is a great spot! heater of lawn systems Clean humidifier Wash windows inside These are always popular and draw attention: Heres What Our Clients Are Saying About Us! Appliances, Kids Clothes, Baby Our recent clients Jackie Carelton were so happy with Equipment, Never-Used Items, Tools, The Mitchell Teams Service they wrote to say: Sports Equipment, Furniture; Especially Our most recent sale required a very specific buyer and The Mitchell Team helped us Kids Furniture. find that buyer during a tough market...Tom and his team have sold 3 houses for us now and we have always received professional and pleasant service. Our most recent sale If you are having a garage sale let us required a very specific buyer and The Mitchell Team helped us find that buyer during know, we will post it on our blog and a tough market. Sandra and Jennifer kept us informed and assisted us with patience facebook. Just call 905-898-6300. during the entire sale and purchase process. Thank you Mitchell Team! We would appreciate the opportunity for your business too, please call 905-898-6300
Market Watch CREA Boost Annual Mitchell Team Resale Housing Forecast... Market Watch OTTAWA February 8, 2011 The lower than the record result reported in Canadian Real Estate Association (CREA) January 2010. has revised its 2011 forecast for home sales While off the record pace experienced a Aurora - N06 2010 2011 activity via the Multiple Listing Service速 (MLS速) Systems of Canadian real estate year ago, the GTA resale market has started Sales 39 43 Boards and Associations, and extended it to the year on a solid footing. Home buyers in 2012. Toronto and surrounding areas continue to Listings 90 85 benefit from a diversity of housing types Sales in the second half of 2010 rebounded for sale at many different price points, said Average Price $496,793 $515,737 faster than CREA had previously expected. TREB President Bill Johnston. The hand-off going into 2011, together % of Asking 100% 98% with the highs and lows for sales activity The average selling price for January 2011 posted in 2010, provided guidance for sales was $427,037, representing an Avg Days on Market 43 36 CREAs revised forecast, said Gregory increase of over four per cent compared to the average of $409,058 reported in January East Gwillimbury - N15 Klump, CREA Chief Economist. 2010. Sales 19 11 Home buyers recognize that low mortgage interest rates represent a once in a lifetime The average selling price is expected to Listings 46 26 opportunity. At the same time, they expect grow at a moderate pace in 2011. Growth that rates will rise, so theyre doing their rates in the three to five per cent range will Average Price $496,421 481,718 homework in order to understand what it be sustainable from an affordability could mean in terms of higher mortgage perspective, said Jason Mercer, TREBs % of Asking 97% 96% payments down the road before they make Senior Manager of Market Analysis. an offer, said Georges Pahud, CREA Avg Days on Market 58 70 President. The housing market and buyer Median Price psychology is different now than it was at Newmarket - N07 In January, the median price was $360,000, the beginning of last year, so buyers and from the $350,000 recorded during January Sales 73 56 sellers would do well to consult their of 2010. REALTOR速 to understand local market Listings 132 113 trends. National Average Ontario Average Average Price 377,883 $411,879 Good Start to 2011 Dec-10 $344,551 $343,257 % of Asking 98% 99% February 4, 2011 Greater Toronto Dec-09 $337,534 $331,410 REALTORS速 reported 4,337 transactions Avg Days on Market 25 34 through the TorontoMLS速 system in *Source CREA January 2011. This result was 13 per cent West Gwillimbury - N18 St. Patricks Day has been celebrated since March 17 in 461 AD when St. Patrick Sales 21 30 died. That day has been commemorated as St. Patricks Day ever since. The first Listings 63 49 year St. Patricks Day was celebrated in North America was 1737 in Boston, Massachusetts. As the saying goes, on this day everybody is Irish! Average Price $322,750 $307,963 % of Asking 98% 97% Meet the Award Winning Mitchell Team Avg Days on Market 87 41 Our highly skilled team takes customer service to new levels YTD as of January 31, 2011 S A T E Real Estate Investor Seminar L A E M S Date: Tues., March 8th, 2011 Seminars held from 7:00 - 9:00pm at the Tom Mitchell* Nicolette Lesperance* Brandon Kosarow* Jennifer Mitchell* Bonnie Butler* Newmarket Public Library, 438 Park Ave., Newmarket S U T To Register call 905-898-6300 or email at P E P A Admin@TheMitchellTeam.com OM R T Gardening is good exercise. Diane Sandra Stephanie Chris Don Rake, hoe, dig or pull weeds Rita Mitchell* Team Manager Bailey* Client Care Mulvina Business Development Nordine Marketing Bower Interior Designer MacDonald Team Courier by hand and burn up to * Sales Representative Administrator Administrator Coordinator 300 calories per hour.
Our Service Will Move You! REALTY CENTRES, BROKERAGE Independently Owned and Operated Additional Photos Online www.TheMitchellTeam.com One of a Kind... A Special Place to Call Home... Attention Horse Owners... Stunning Exec Home... $1,200,000 ID#707N $819,900 ID#708N $699,900 ID#669N $649,900 ID#710N Premium Pie Lot... Fab Income Potential... Olde World Charmer... Great Family Neighbourhood... $529,900 ID#712N $524,900 ID#711N $389,900 ID#687 $369,000 ID#698 Country Setting... Updated Brick Bungalow... Amazing Potential... Huge Mature Treed Lot... $349,900 ID#714N $339,900 ID#713N $334,900 ID#684N $329,900 ID#716N Wonderful Frontage... Loaded with Charm... Priced to Sell... Attn 1st Time Buyers... $309,900 ID#709N $307,900 ID#682N $229,900 ID#655 $219,000 ID#715N Buying or Selling? Or Know Someone Who Is? Pick up the phone and call The Mitchell Team 905-898-6300

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Newsletter March 2011

  • 1. Real Estate Market Watch Our Service Will Move You! REALTY CENTRES, BROKERAGE Independently Owned and Operated Weve Helped Over 3100 Families Make Their Move! www.TheMitchellBlog.com Volume 2, Issue 2 In This Edition: Ten Easy Ways to Update Your Home for Resale What exactly is Home Staging? It is preparing the home for the real estate market so that it is appealing to potential buyers and stands out Ten Easy Ways to Update amongst the competition. And the reason this is important is to get Your Home for Resale the house sold as quickly as possible at optimum price! 3 Mortgage Rules Coming Into Effect 1. Steam clean carpets and consider installing 7. Increase the curb appeal of your home by Kids Corner hardwood flooring or ceramic tiles. planting flowers or placing planters in the front and back yards. Understanding Your Local 2. Paint walls in a neutral but pleasing hue. Real Estate Market 8. Use a lightly scented oil to add a fresh scent 3. Replace the faucets in your bathroom; to your home. Similarly, putting on a pot Customer Testimonial stylish and contemporary fixtures, such as of coffee or baking a cake produces pleasant Yard Sale Savvy the Arzo Bath Collection by Delta, exude a smells that evoke the feeling of home. Market Watch luxury feel at an affordable price point. 9. Depersonalize your home by removing Meet the Team 4. Change a toilet, sink or counter to a family photographs to help potential neutral tone for an instant update. buyers envision themselves in the space. Seminar 10. Help the homeowner see the possibilities; Homes For Sale 5. Paint the tiles in a bathroom or the kitchen set the table for dinner with flowers, fine to inexpensively upgrade a space. dishes and cutlery or run the bath and add Buy or Sell with 6. Do an all over clean-up and purge of your floating candles, leaving out a robe or a set home. Prospective buyers often cant see of fresh towels to enhance the feel of a Tom & Diane Mitchell and beyond clutter. spa-like setting. Use this Truck for FREE* 3 Mortgage Rules Coming Into Effect March 18, 2011 homes, such as home equity lines of credit, or 1. Reduce the maximum amortization period to HELOCs. If you have any questions about your 30 years from 35 years for new government- Mortgage and/or if you are in the market to backed insured mortgages with loan-to-value purchase, we can put you in contact with ratios of more than 80 per cent. a knowledgeable mortgage broker to discuss 2. Lower the maximum amount interest rate trends and the impact Canadians can borrow in on affordability, and which mortgage strategy refinancing their mortgages to will fit your needs. 85 per cent from 90 per cent of Call 905-898-6300 or email the value of their homes. admin@themitchellteam.com April 18, 2011 3. Withdraw government insurance backing on lines of credit secured by Courtesy of Bill Nugent, Dominion Lending Centres *Some conditions/restrictions apply. Subject to availability. Available to charities Free No Obligation Market Evaluation Of Your Home 905-898-6300 www.TheMitchellTeam.com
  • 2. Mitchell Understanding Kids Corner Yo u r L o c a l R e a l E s t a t e M a r k e t Experts always say that real estate is a great more homes available to buyers, the harder it investment because the value of homes is will be for sellers to move properties. Most Hello, always going up. To some extent, theres truth communities have some new construction, in that. But its also a fact that the real estate but the key is to determine if it is outpacing Boy this winter sure has been cold with market fluctuates. Many people mistakenly the demand. lots of snow so far! Not that I am rely on national trends when evaluating the Increased job growth and in-migration. complaining because it gives me lots of real estate market, however, this could at Where there is strong growth, there are new skiing options! Ive been working on my times be misleading. The key is to focus on workers. New workers need some place to and understand your local market. live. A vast percentage of these people will be G-1 and hope to be licensed soon. Driver training has been very helpful Focusing on your local real estate market is moving in from other areas and often are but for now if you see me at the wheel of the key to evaluating real estate deals. This bringing money from a previous home. If job however could be difficult to evaluate since growth is strong, your real estate market my parents car beware Just kidding of there is often less information on particular should be stable and showing appreciation. course! With regards to my hockey team areas versus the national situation. To Real estate doppler effect. Real estate is weve been put out of the Ontario understand your real estate market, here are a governed by the law of cause and effect. playoffs and now we are back in the York few factors to focus on. Positive situations cause positive outcomes, Simcoes. Hope we win it! Understand the market trend. Sometimes and vice versa. For example, a vibrant its a buyers market and sometimes its a economic growth leads to a vibrant real estate Megan is back at University busy with sellers market. And there are actually other market and strong appreciation of homes, school and comes home some weekends. times when the real estate market is in while loss of jobs and a languishing economy I like to think its to visit with me but I transition. A transitional real estate market produce exactly the opposite effect. really think its to ride her horse Ruby. poses certain issues for people who are buying The conditions that make a good market can Jay is back in Switzerland on the home and selling homes and you should be aware of change literally overnight. All it takes is the stretch of her MBA program. She them. This is especially true for anyone entrance of a major employer or a little word graduates in May of this year and as you involved in real estate right now because the of mouth and buyers looking for a bargain all know by now the big wedding date is real estate market in many areas is either in and seeing others take a chance, and before fast approaching! July is the Month! transition or could be in transition shortly. you know it, a neighbourhood has turned Supply and demand. Real estate is governed around. Homes that sat unsold are selling for Well for now, stay warm! After all, by the law of supply and demand. This rule high prices. Young people are moving in, Spring is just around the corner. is absolute and without exception. The making improvements, and making the area appreciation of a market, the expectations of cool to live in. Luke buyers and sellers, and the velocity of market If you are thinking of buying or selling a sales are all dictated by the supply of, and the property, consult with your local real estate demand for, real estate for sale. agent. He or she is equipped with the right New construction is another area to consider tools and knowledge to insure your when evaluating your market. In this case, we investment is a successful one. Yard Sale Savvy are focusing on supply and demand. The If youve got it, flaunt it! MARCH CHECKLIST APRIL CHECKLIST Clean or replace Remove snow and Clean oven and Sort winter clothes Certain items are always in high demand furnace filter ice from roof refrigerator for tossing, donating, Vacuum walls, Inspect attic, overhang and sale or storage at yard sales. If you have them, mention vents baseboards, furniture Set aside garage sale Transplant and move basement and Check smoke items, drop off tem in Newspaper Ads, Flyers, Kijiji or crawl space plants that are still donations and haul Check sump pump Craigs List. Remember to display those alarms and dormant or just garbage to the dump CO detectors Clean range hood starting to wake up or dumpster these items prominently; Check water Reseed patchy areas Check sprinkler filter curbside is a great spot! heater of lawn systems Clean humidifier Wash windows inside These are always popular and draw attention: Heres What Our Clients Are Saying About Us! Appliances, Kids Clothes, Baby Our recent clients Jackie Carelton were so happy with Equipment, Never-Used Items, Tools, The Mitchell Teams Service they wrote to say: Sports Equipment, Furniture; Especially Our most recent sale required a very specific buyer and The Mitchell Team helped us Kids Furniture. find that buyer during a tough market...Tom and his team have sold 3 houses for us now and we have always received professional and pleasant service. Our most recent sale If you are having a garage sale let us required a very specific buyer and The Mitchell Team helped us find that buyer during know, we will post it on our blog and a tough market. Sandra and Jennifer kept us informed and assisted us with patience facebook. Just call 905-898-6300. during the entire sale and purchase process. Thank you Mitchell Team! We would appreciate the opportunity for your business too, please call 905-898-6300
  • 3. Market Watch CREA Boost Annual Mitchell Team Resale Housing Forecast... Market Watch OTTAWA February 8, 2011 The lower than the record result reported in Canadian Real Estate Association (CREA) January 2010. has revised its 2011 forecast for home sales While off the record pace experienced a Aurora - N06 2010 2011 activity via the Multiple Listing Service速 (MLS速) Systems of Canadian real estate year ago, the GTA resale market has started Sales 39 43 Boards and Associations, and extended it to the year on a solid footing. Home buyers in 2012. Toronto and surrounding areas continue to Listings 90 85 benefit from a diversity of housing types Sales in the second half of 2010 rebounded for sale at many different price points, said Average Price $496,793 $515,737 faster than CREA had previously expected. TREB President Bill Johnston. The hand-off going into 2011, together % of Asking 100% 98% with the highs and lows for sales activity The average selling price for January 2011 posted in 2010, provided guidance for sales was $427,037, representing an Avg Days on Market 43 36 CREAs revised forecast, said Gregory increase of over four per cent compared to the average of $409,058 reported in January East Gwillimbury - N15 Klump, CREA Chief Economist. 2010. Sales 19 11 Home buyers recognize that low mortgage interest rates represent a once in a lifetime The average selling price is expected to Listings 46 26 opportunity. At the same time, they expect grow at a moderate pace in 2011. Growth that rates will rise, so theyre doing their rates in the three to five per cent range will Average Price $496,421 481,718 homework in order to understand what it be sustainable from an affordability could mean in terms of higher mortgage perspective, said Jason Mercer, TREBs % of Asking 97% 96% payments down the road before they make Senior Manager of Market Analysis. an offer, said Georges Pahud, CREA Avg Days on Market 58 70 President. The housing market and buyer Median Price psychology is different now than it was at Newmarket - N07 In January, the median price was $360,000, the beginning of last year, so buyers and from the $350,000 recorded during January Sales 73 56 sellers would do well to consult their of 2010. REALTOR速 to understand local market Listings 132 113 trends. National Average Ontario Average Average Price 377,883 $411,879 Good Start to 2011 Dec-10 $344,551 $343,257 % of Asking 98% 99% February 4, 2011 Greater Toronto Dec-09 $337,534 $331,410 REALTORS速 reported 4,337 transactions Avg Days on Market 25 34 through the TorontoMLS速 system in *Source CREA January 2011. This result was 13 per cent West Gwillimbury - N18 St. Patricks Day has been celebrated since March 17 in 461 AD when St. Patrick Sales 21 30 died. That day has been commemorated as St. Patricks Day ever since. The first Listings 63 49 year St. Patricks Day was celebrated in North America was 1737 in Boston, Massachusetts. As the saying goes, on this day everybody is Irish! Average Price $322,750 $307,963 % of Asking 98% 97% Meet the Award Winning Mitchell Team Avg Days on Market 87 41 Our highly skilled team takes customer service to new levels YTD as of January 31, 2011 S A T E Real Estate Investor Seminar L A E M S Date: Tues., March 8th, 2011 Seminars held from 7:00 - 9:00pm at the Tom Mitchell* Nicolette Lesperance* Brandon Kosarow* Jennifer Mitchell* Bonnie Butler* Newmarket Public Library, 438 Park Ave., Newmarket S U T To Register call 905-898-6300 or email at P E P A Admin@TheMitchellTeam.com OM R T Gardening is good exercise. Diane Sandra Stephanie Chris Don Rake, hoe, dig or pull weeds Rita Mitchell* Team Manager Bailey* Client Care Mulvina Business Development Nordine Marketing Bower Interior Designer MacDonald Team Courier by hand and burn up to * Sales Representative Administrator Administrator Coordinator 300 calories per hour.
  • 4. Our Service Will Move You! REALTY CENTRES, BROKERAGE Independently Owned and Operated Additional Photos Online www.TheMitchellTeam.com One of a Kind... A Special Place to Call Home... Attention Horse Owners... Stunning Exec Home... $1,200,000 ID#707N $819,900 ID#708N $699,900 ID#669N $649,900 ID#710N Premium Pie Lot... Fab Income Potential... Olde World Charmer... Great Family Neighbourhood... $529,900 ID#712N $524,900 ID#711N $389,900 ID#687 $369,000 ID#698 Country Setting... Updated Brick Bungalow... Amazing Potential... Huge Mature Treed Lot... $349,900 ID#714N $339,900 ID#713N $334,900 ID#684N $329,900 ID#716N Wonderful Frontage... Loaded with Charm... Priced to Sell... Attn 1st Time Buyers... $309,900 ID#709N $307,900 ID#682N $229,900 ID#655 $219,000 ID#715N Buying or Selling? Or Know Someone Who Is? Pick up the phone and call The Mitchell Team 905-898-6300