Fall is my favourite time of year in Toronto. It’s no longer so humid that we’re all sweat bombs (believe me, I am not built for extreme heat…those people who have met me on their doorstep in the summer can attest to that), and it’s before the winter makes us all wonder why we chose to settle in an area where a 60 degree spread between seasons isn’t unheard of. It’s also the time of year where I speak with a lot of people who are thinking about a sale in the spring. Fair enough, I say; it’s after the craziness of the holidays has passed, and is traditionally the busiest time of year in the Toronto market. But here’s why you may want to get the gears in motion now for a spring sale:
1) Preparing a home for sale is more work than you may think. While a fresh coat of paint can be applied right before going to market, it’s worth taking advantage of a long lead time to make a list of all of those little repairs that you may have been putting off, or may not have even noticed. I can help by taking a tour of your home with you and identifying the most important areas to focus on since I know what buyers typically look at.
2) The market sneaks up faster than you may imagine. In fact, most agents selling their own homes choose to put them on the market in February; the market hasn’t been flooded with new listings yet, while buyers who were waiting for the New Year are chomping at the bit to get shopping. More buyers = more offers, and this is often when record prices are set. One semi in our area received 27 offers in February 2014, and sold for a record price that hasn’t been topped even a year and a half later.
3) You can react quickly to any changes in the market. While interest rates aren’t expected to rise anytime soon, the global economic situation can remain unpredictable. Should anything happen that may cause a slowdown in the number of sales in the GTA, you can quickly get your home sold while other potential sellers are still preparing to put their home on the market. You make out like a bandit while others leave money on the table only a few weeks later.
Be sure not to be left in the dust once the spring thaw happens. If you have any questions about how best to prepare for a sale, feel free to contact me. I’m happy to help with no obligation.