Home Trends from Ed and Chris

Connect Realty, Brokerage

Edward Wang

Christopher Wannamaker

Direct: 416.807.1977 edward@wgrouprealestate.ca

Direct: 647.285.6964 christopher@wgrouprealestate.ca

Office: 416.588.8248 | www.wgrouprealestate.ca

THE W GROUP REAL ESTATE

Royal LePage Connect Realty

CREATE A COLOURFUL OUTDOOR AREA

When you don't have a green thumb but still thrive on colour, there are a lot of options you can consider to bring colour into your outdoor space. Most patio furniture comes in neutral colours, but the fabric covering the cushions can be bright and patterned and changed as often as you desire. Match the furniture with an outdoor rug and coloured umbrella and your space will be much brighter instantly. If you're not sold on using fabric in your particular area, turn to accessories to bring in splashes of colour. Side tables, lanterns, stepping stones, bird houses and vases are a few ideas that when added to a neutral outdoor space can add pops of colour to create a happy, inviting area. Outdoor lighting in the form of LED string lights that allow you to change their colours can help create a warm atmosphere after the sun goes down.

Office: 416.588.8248 | www.wgrouprealestate.ca

THE W GROUP REAL ESTATE

Royal LePage Connect Realty

HOME INSPECTIONS When putting in an offer on a property, more often than not, a home inspection clause is included. This means that before the sales goes through, a home inspector will have the opportunity to walk through the home with the buyer and inspect the property and make note of anything that may be a potential problem. Home inspectors look at everything from the interior to the exterior of the property as well as the electrical, plumbing, heating and cooling systems. They often provide a report of their findings which will help you make an informed decision on whether or not the purchase of the home is right for you. An inspector can climb up into the attic, follow plumbing and pipes along walls in the basement and the like, but they cannot move furniture (rugs, paintings, etc.) that may be hiding something. They also can't cut into the wall or floor or dismantle anything. They can suggest looking further into certain things that may require an expert opinion or further negotiation with your agent and the seller.

Office: 416.588.8248 | www.wgrouprealestate.ca

THE W GROUP REAL ESTATE

Royal LePage Connect Realty

WHY PEOPLE SELL THEIR HOMES As a buyer, you can rest assured there are a number of reasons that every month tens of thousands of Canadians put their homes on the market and will collectively continue to do so regardless of the current market. First up are life-changing situations from marriage to divorce to children moving out to grandparents moving in. These types of situations often call for a change in housing type, style or budget which will result in a property coming to market. Next up is a work-related reason. Whether they have received a promotion or accepted a new job in another part of the city, town, province or even country, Canadians have to move for work and doing so will add to the local real estate market. Financial reasons also motivate a number of real estate transactions, especially when high mortgage rates make a home less affordable and owners downsize to lead a more comfortable lifestyle. Finally, many home owners just want a new place to hang their hat - sometimes there are maintenance tasks that are just too difficult, costly or time consuming to continue; sometimes, a different size yard, kitchen or basement is desired; sometimes mobility issues make a house with stairs inaccessible and a condo with an elevator more appropriate. Whatever the reason, patience is paramount as a buyer. The right property will come on the market soon. And know you can purchase a home for the interim while the right "forever" home comes on the market.

Office: 416.588.8248 | www.wgrouprealestate.ca

THE W GROUP REAL ESTATE

Royal LePage Connect Realty

WATERING CAN 101 A watering can is just a watering can, right? It does have one main function - to help you water your plants, but there are a few nuances to consider when you're shopping for the right tool for the job. A large watering can will help you transport more water and water more plants at once, but how heavy will it be when filled? Are you able to comfortably carry it and pour from it? When carrying the jug, a rounded handle will be more comfortable, and two handles make pouring easier and allow you better accuracy. Look for a wide opening that is easily accessible and not blocked partially by the handle which will allow you to easily fill it via hose or water barrel. A long spout with multiple watering nozzles would be ideal as you can effectively water any size or shaped plant. An attachment that provides a rain-like pour as well as one that allows a direct stream would also meet most watering needs. Finally, the material the watering can is made out of is also important. Plastic cans will deteriorate due to exposure faster than a metal watering can. However, metal watering cans can break and need to be re-welded or repurposed at some point too, so they're not indestructible, but do tend to last longer.

Office: 416.588.8248 | www.wgrouprealestate.ca

THE W GROUP REAL ESTATE

Royal LePage Connect Realty

GTA REALTORS® Release May Stats

AVG. SALE PRICE Single Family Dwelling $1,506,675

AVG. SALE PRICE Condo/Townhouse $836,642

ACTIVE LISTINGS 21,760

DAYS ON MARKET 19

GTA REALTORS® June 5, 2024 – May home sales continued at low levels, especially in comparison to last spring’s short-lived pick-up in market activity. Home buyers are still waiting for relief on the mortgage rate front. Existing homeowners are anticipating an uptick in demand, as evidenced by a year-over-year increase in new listings. With more choice compared to a year ago, buyers benefitted from more negotiating room on prices. Greater Toronto Area REALTORS® reported 7,013 home sales through TRREB’s MLS® System in May 2024 – a 21.7 per cent decline compared to May 2023. New listings entered into the MLS® System amounted to 18,612 – up by 21.1 per cent year-over-year. The MLS® Home Price Index Composite benchmark was down by 3.5 per cent on a year-over year basis in May 2024. The average selling price of $1,165,691 was down by 2.5 per cent over May 2023. On a seasonally adjusted monthly basis, the average selling price edged up slightly compared to April 2024. “While interest rates remained high in May, home buyers did continue to benefit from slightly lower selling prices compared to last year. We have seen selling prices adjust to mitigate the impact of higher mortgage rates. Affordability is expected to improve further as borrowing costs trend lower. However, as demand picks up, we will likely see renewed upward pressure on home prices as competition between buyers increases,” said TRREB Chief Market Analyst Jason Mercer. Source: Toronto Regional Real Estate Board | Market values stated are of the average of Toronto and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

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Office: 416.588.8248 | www.wgrouprealestate.ca