What Will 2012 Hold For Brantford Real Estate?

As we begin the New Year in Brantford, home buyers and home sellers have the same question: Is now a good time to buy, sell, or invest in real estate? To answer that, let’s take a look at the most recent market summary from the Brantford Regional Real Estate Association:

Home values in the Brantford region are up by 7% from a year ago. The average price for a home as of November 2011 was $238,114.

The inventory of homes for sale is lower than a year ago. At the end of November 2011, we had 631 active residential listings on the market; that’s down 6% from the prior year.

The inventory of homes for sale stands at a 3.5 month supply. This means that at the present pace of sales, we’d clear the shelves in just about 90 days if nothing else came on the market.

This is the tightest real estate market we’ve seen in two years. If you’re a Brantford home seller, it would be like comparing it to a perfect cup of coffee; steaming, but not too hot. (If you’re a Brantford home buyer, you may be a little frustrated that you’re still in line and haven’t gotten your coffee yet.)

Total sales activity – a separate measurement from pricing – is up 3% from a year ago.

How does it look for the future? Different economists hold different opinions, but some are saying we’re in a sweet spot; the market is healthy and active, values are appreciating, but we’re not throwing all caution to the wind and seeing rampant speculation. It was the latter situation that contributed to the housing bust in the U.S.

Naturally, if there are any widespread economic shake-ups, it could affect the real estate market. Home values are best when employment is stable and people feel financially secure. Canada is not immune to the impacts of global financial concerns, but thus far we’ve weathered things pretty well.

Is now a good time to buy, sell, or invest in real estate? As your Brantford real estate agent, I would say yes, so long as your personal finances are in order and you’re not going out on a limb. Sometimes changes happen in a market that cannot be predicted, so above all, consider what is right for you and your needs in the long run.

Based on our recent market activity, 2012 appears to hold a balance of opportunity for buyers, sellers, and investors alike. If you’re thinking of buying or selling a home in Brantford, or you have questions about Brant County real estate, give me a call!  I will be happy to help you.

Wishing you all the best in the New Year,

Wally Dufrat | Sales Representative
RE/MAX Twin City Realty, Inc. Brokerage
515 Park Road North | Brantford, ON N3R 7K8
Direct:  (519) 752-5400 & (877) 759-5900 | Cell: (519) 761-7400 | Fax: 519-752-3400

Before You Buy or Sell Your Next Home, Visit My Websites at:
www.BrantofordHomeInfo.com or www.FreeBrantfordHomeInfo.com for FREE Information!
 

 

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It Pays to Pre-Inspect Your Brantford Home!

Did you know that more than 85% of homebuyers who apply for a mortgage also request a home inspection? This can hardly be considered a surprise, as inspections can reveal pricey flaws and much-needed improvements that need to be made on the home. As a seller who plans on putting your home up for sale on the Brantford real estate market, this should make one part of your selling strategy very clear: get your home inspected BEFORE putting your home on the market.

Most sellers wait for the buyer to request a home inspection before having one. Given that a home inspection can make or break your Brantford real estate transaction, a smart strategy would be to pre-inspect your home, so that the homebuyer’s mind is at ease and you can be up-front about any and all issues with the home. As a Brantford real estate agent, part of my job is preparing home sellers for listing their home and helping them to come up with the best selling strategy. One recommendation I always make is to get your home pre-inspected. Here are a few reasons why this approach might pay off:

It reassures prospective homebuyers. When an interested buyer does the initial walkthroughs in your Brantford home, the only flaws that stand out will be the obvious ones. A home inspection helps homebuyers see the issues that they may have initially overlooked during their first few viewings of the home. Getting your home pre-inspected shows that you took the initiative to find out what was wrong with the house and that you are being honest and up-front with interested buyers. This will put the buyer’s mind at ease and make them feel more comfortable about working with you. It will also avoid the frustration that occurs when various deals fall through due to home inspection.

You can use the outcome of the inspection to buy more time or save money. If you know about your home’s red flags and areas of improvement ahead of time, then you can choose to renovate the issue immediately or adjust the sales price to reflect the outcome of your inspection. It gives you a few days to find a solution that will satisfy both your needs and those of Brantford, ON home buyers. If you choose to make repairs ahead of time, you will also have some time to shop around for the best deal from various contractors. In other words, you won’t be pressured to fix issues on your home quickly. This can save you both money and additional anxiety.

You can set your asking price based on the outcome of the inspection. There’s nothing more frustrating than finding a Brantford homebuyer who is willing to pay your asking price, only to have the final figure drop due to the results of your home inspection. Getting pre-inspected will allow you to set a fair and realistic asking price and know where you stand in the market.

Avoid repeat repairs. Getting a home pre-inspected will help you find out the source of all of the issues of your home, so that you won’t waste money on fixing seemingly obvious problems only to find that the cause was something entirely different during the inspection. In other words, getting pre-inspected will allow you to use a professional to pinpoint the problem and get the right repair, instead of doing initial improvements before listing your home and finding out post-inspection that it wasn’t the source of the problem.

Getting pre-inspected may sound like a hassle, but in the long run, it will save you both time and money during your Brantford real estate transaction. As the area’s real estate and community expert, I consider it a large part of my responsibility to help Brantford home sellers come up with the best marketing strategy for their home. Something that I highly recommend is to get your home pre-inspected. As always, if you have any questions about the Brantford real estate market, or if you want to know more about the area, don’t hesitate to contact me. I am always happy to help in any way I can. I hope to hear from you soon!

Wally Dufrat
RE/MAX Twin City Realty, Inc. Brokerage
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