Ride around Ennismore-Douro-Warsaw-Lakefield

Peterborough and the Kawartha's is a wonderful place to live and play. If you live here STOP! Look around you. There is amazing sites and views everywhere. I took 2.5 hours and went for a 85 km ride around Ennismore-Douro-Warsaw-Lakefield. I would like to show you some of the sites I seen and you can enjoy them as well!

Home Inspections, how to do them in today's market

I read an article in a local magazine this morning titled "Getting a Proper Home Inspection is Critical" and I thought I would write a blog based on the points and comments the author had in the magazine article.

In the article the author started his article by stating it is a seller's market but cautioned not to forget about common sense. He went on to comment that "a lot of agents are suggesting putting in an offer without any conditions". Other comments made were 'you need to go in with a safety net" and "kind of crazy to consider an offer without the home inspection condition"

I understand his point of purchasing a house wisely. A home inspection is something that needs to be completed before purchasing a home. What I disagree with the author is the timing of the inspection.

In a Seller's market the author is advising to have a condition on Home Inspection in an offer. Sometimes this is the kiss of death of an offer. Think about it. You have your house listed at $300000 and you are looking at three offers. One is cash, no conditions $350000, the other is $3500000 with Financing, home inspection and insurance and the other is also $3500000 just home inspection. Which one would you take as a seller?

What I suggest is to do a home inspection BEFORE an offer is placed. In a Sellers market you must do your due diligence before the offer so you have a chance at the property.  This way as the author has stated you are not going in "blindfolded". If you identify a property you would like to place an offer on, request to the Seller through their Realtor to have two hours to complete an inspection. The Seller wants as many "clean" offers as possible and if they are not hiding anything the request will most likely be granted.

One thing we both agree on is to find an insured and licence inspector. The industry is unregulated so my 8 year old daughter can become a home inspector next week without question if she wanted to.

509 CAUSEWAY VIEW RD N ENNISMORE ONTARIO, CHEMONG LAKE-Brad Sinclair Flat Rate Realty

 Looking for the ideal vacation home, residential home or cottage? Here it is. This home checks off all the marks. Located minutes from Bridgenorth and Peterborough this home features clean waterfront, excellent views, well-maintained buildings, garage and the most wonderful sunrises to the east. Enjoy the open concept living along with a 4 seasons sunroom with walk out to a large comfortable deck. Other features at this house includes 3 bedrooms, 2 bathrooms, beautiful oak kitchen, natural gas fireplace, central air and furnace. The property features level lot, armour stone shoreline with sand bottom, detached garage, crank up aluminum dock and a large lot across the road for more room to play or park extra cars.

The brakes are being tapped on the Peterborough Real Estate Market in May-Brad Sinclair Flat Rate Realty

February, March and April in 2017 I seen  many sales numbers that were mind blowing. I would just utterly stare at the final sale number of a listing and think to myself, what would happen if I could get those numbers for my house? Then May happen.

In May 2017 it was noticed by many of us in the business that listings that we were holding offers on listings were only getting 1 or 2 offers instead of the 10-20 offers we were seeing a month prior. Sometimes no offers were coming in at all right away. What happen???? Sellers were asking why they are not getting $100,000 over asking like their neighbour did?

A few reasons why.

1. Sellers were not getting the $100000 over asking because they were now asking $100,000 more then they would have asked last year
2. Buyers are growing tired of the multiable offer situation and refuse to participate 
3. The number one reason: INVENTORY!

 May 2017 had an explosion of inventory that cooled the market. Don't get me wrong, buyers bought up the inventory in record numbers but they did with more caution.

So what does this all this mean? I have no idea. Honestly. It is going to go one of two ways. June will continue with a large amount of listings hitting the market continuing to cool things down OR inventory will dry up as May was an odd month of inventory and the market will rebound to the record sales value amount. 

If you want live updates and advice, please feel free to give me a call. 705-927-6236