By: Julie Curran

October Market Update

Tags: market update, thanksgiving

Hi there!

In this season of thankfulness, I want to thank my clients for trusting in me as your real estate agent and your friend. I wouldn’t be where I am today without you. Here’s to enjoying the company of good friends and family. I wish you a happy Thanksgiving and a safe Halloween!

Where are first time buyers shopping for a home right now in Durham Region? 
Bowmanville and Courtice seem to be the hot spots for 1st time buyers to get into the market. They offer affordable housing and in the month of September we had 46 homes sell. The average price is between $ 450,000 to $475,000 in this market. Clarington offers a wide variety of new homes that is creating a lot of opportunities for people to move up and stay within their community which then allows for first time buyers to get into the market. We are still seeing a lot of bidding wars in this price range as the supply can't keep up with the demand.
What happens if there is a problem with the house when I first move in?
This month I received a call from my first-time buyers who after the first day of receiving the keys to their new home discovered the fridge that was included with the deal wasn't keeping the food cold. I made a call to an appliance guy I know and within 24 hours he was over at their home and ordered the part needed to repair the fridge. I would rather take care of a problem like this then go after the seller to recoup the cost.
Are you thinking about waiting until the spring to list your home? 
Firstly, a spring market in my opinion can start as soon as February or March and what people need to realize is buyers and sellers are moving throughout the year for lots of different reasons. If you are a Seller who puts your home on the market in the beginning months of the new year, chances are there aren't a lot of homes on the market for buyers to choose from so depending on their timing of when they need to be moved could mean your home is going to be at the top of the list for anyone looking.  As we progress into April and May we tend to see a lot of listings come available which gives buyers more inventory to choose from. A tip I've been sharing with my clients who are planning to list in the early months of next year is let's go ahead and get the outside photos taken now while the property is looking pristine, that way we can include those photos in the marketing of the home no matter what time of year you decide to list.
What are buyers facing in this market?
I’m working with a couple of first time buyers right now and it's a bit frustrating as they are getting caught up in the "bidding war" scenario and it can be disheartening when they lose out. The best advice I can give them is to be patient. If we are confronted with the situation of competing for a property I always ask my clients to go in the price they feel it's worth to them and if it goes for any higher, you should feel ok knowing you weren't willing to go to that price. I'm a true believer things happen for a reason and although it’s not always what a client wants to know I promise them I will continue searching for the perfect home for them! 
"Working with Julie was an absolute pleasure! As first-time home buyers, we had a lot of questions. Julie was always quick to answer all questions, even after closing! She made the house buying experience as seamless as possible for us. She was patient and took the time to understand what we wanted in a house. Julie found the perfect house for us and we could not be happier."

- Jenn & Jake

What are sellers facing in this market?
Sellers want to know what is happening in my price range and why isn't my house selling. I don’t think the market has gotten back to normal since the crazy prices we saw in 2017, but right now buyers are taking their time in the purchasing process and unless they see value in the home they are looking at they are continuing their search. Historically every time we have an election it seems to slow down our market as people are waiting to see what might change and once it's over things do pick up. Right now, it's important to listen to buyer feedback and if we aren’t seeing showings booked or open house traffic that may be an indicator that the list price may not align current market value. Sometimes the right thing to do is to be patient, but other times we need to adjust if a quick sale is the goal.

Check out these beautiful homes for sale!

What property has wowed you recently?
I've shared with a lot of my clients my goal is to be on the water by June 2020 and recently I toured the house of my dreams. Sadly, it wasn't the right time for me to make a move but it checked off almost everything on my wish list. As Lake Scugog has a limited number of swimmable shorelines this one did offer a hard sand bottom and a couple unique features it offered was a bunkie with hydro (I could see my kids enjoying coming to visit and stay) and an outdoor shower, who would have thought? 

Help Me Fill a Love Box 

I've signed up to support the Super Sophia Project and I'd love your help in filling a love box. 

Love Boxes are filled by community members with toys, crafts, clothes, gift cards etc. and are gifted to children in hospitals all across the GTA, Durham and Up North.

Please give me a call if you're interested in this amazing cause!

Upcoming Local Events

Crisp apples are dipped in melted caramel for a special autumn treat. You can take these Ultimate Caramel Apples one step further with our special extra toppings.

What You Need

  • 5 apples (1-1/2 lb./675 g), washed, well dried
  • 1 pkg. (340 g) Kraft Caramels
  • 2 Tbsp. water