Your dream of living the ultimate California lifestyle in San Francisco and the Bay Area could come true in 2018. The price of homes in San Francisco is falling. The California real estate market is moderating, however the number of listings isn’t growing fast.
You likely will need a thorough home search strategy to find a worthwhile detached home for sale here. The high prices will ensure you take your time to get something nearly affordable.
Connecting with Realtors in San Francsico is wise. They know the market. However, you should expand the sources of potential listings of detached homes and soon-to-be-listed houses. San Franciso has many waterfront and inland communities you’ll love living in. If houses are too pricey, you can look into townhouses.
You might choose to stick with San Francisco (SFAR) however, they tend to stick with the MLS and their own pocket listings. That can hamper your overall property investment strategy. You may end up with less home for your money. Good look searching in Outer Sunset, Outer Mission, Daly City, Mission, Haight Ashbury, North Beach, Nob Hill, North Beach, Russian Hill, Pacific Heights, and more communities.
There are 1300 homes for sale in San Francisco listed on realtor.com and Zillow has 330 houses for sale listed. That’s still a lot of houses for sale! Let’s hope more affordable homes become available soon. By all means, check out Zillow’s listings below.
You can find other properties including land, townhouses, and condos in San Diego County too. Use my homes for sale search strategy to find them. Without a good search process, it’s unlikely you’re going to outcompete other buyers who are more search savvy than you. The home prices in San Diego and much of California have started to flatten. Make sure you up on all the factors related to the current and forecasted prices of houses for sale in California.
There are 3 sources of non mls listed homes in NYC — Craigslist, ForSaleByOwner, and Zillow. Check out Zillow’s database of San Francisco homes for sale.
Houses for Sale – Your Ultimate Source for Finding Homes for Sale
If you’ve read the housing forecast report, you know the availability of homes for sale is squeezed. A lot of properties aren’t even listed which will make it significantly difficult for you to find the property you’re dreaming of.
Real estate investors know fast about great homes for sale that offer the best investment value and there’s several ways they get first dibs on properties for sale.
Realtor Pocket Listings is one way they get connected to exclusive, quality houses. This is where the Realtor works both sides of a transaction and they keep the home listing to themselves hoping to broker it to their own pool of buyers. This works well in a market like we have now where houses for sale are rare.
Realtors will keep these listings quiet, so you need to be in contact with as many Realtors as possible, such as one from each major brokerage. The bottom line in finding your dream home or good investment property and houses for sale in your city is with a well rounded home search strategy.
Houses for Sale on the MLS
Remember that you may not see the best houses for sale on the MLS. You need to expand your search online using a variety of housing sources. Some services also do complex predictive analytics where they monitor social activity and other sources to find homebuyers and sellers who are exhibiting pre-sale behavior. This can be very good.
Realtor.com, Zillow, Remax, Trulia, Redfin, Coldwell Banker, Century 21, Sothebys, and Craigslist might be the way to go, to find houses for sale, but you’re kind of getting the leftovers. It’s like searching for a job using the classifieds. These are the awful jobs companies can’t fill so they advertise and go through the painful process of employee selection. That’s a grind.
Finding the Best Houses for Sale
With real estate, you’re looking for the best properties, the good stuff, that no one knows about. It’s better to find the best rather than toiling with a Realtor sorting through a limited supply. However, it’s wise to use a Realtor as part of your quest to find the best homes, houses, condos, townhouses, apartments or income investment properties from Los Angeles to San Diego to Florida. Use the Zillow Home Search Tool to get started!
Investors, while you’re at it, get educated about the national housing forecast, and find housing markets where there is a good upside potential for ROI. Don’t stick to your local market just because you live there. There’s more potential in the best cities.
Our quest in this page is detached houses for sale in your city. Let’s get started!
It’s hard not to forecast San Diego as a good housing market from 2017 through 2020 just as it is in LA, San Francisco and the Bay area. Buy if you can find anyone willing to sell.
The gorgeous climate, wonderful lifestyle, improving California economy, increased immigration of workers here, beefed up military spending, and proximity to Mexico and the Asian block countries means it is perfectly positioned for big housing demand and very high home prices.
There’s no better place to relocate to if you’re established or your business is doing well. San Diego will give you back everything you give it and more. I’ve had amazing clients in San Diego.
San Diego is an exciting place to live and for real estate investment. Similar to South Florida, it’s younger buyers in the US and foreign buyers that are eyeing property here. And while many experts call for only moderate price increases, you’ll see the stats below are suggesting higher San Diego home prices and decreased availability. It’s the right time to sell your San Diego home.
What’s San Diego’s achilles heel? Lack of housing development and urban intensification. Another problem might be politicians trying to suppress growth in this little piece of heaven. But San Diego’s smack dab in the middle of everything. They’ll be under extreme pressure to stop the resistance and net migration into SD County.
Political Resistance to Population Growth
In the face of huge demand, politicians will be under the gun about putting the Kaibosh on SD’s amazing real estate fortune. This factor will ensure prices will rocket out of control. Are local SD County politicians and the California government doing much to grow housing developments inland? Will the exodus of illegal Mexicans ease the issue? Are illegals buying homes?
Demand for homes in San Diego County will never subside. It is one the best places on earth and prices will stay high. For homeowners here, it is on of those infrequent opportunities to cash out and make a killing. You only need a dream and somewhere to go.
Here’s an easy to understand Forecast of San Diego’s real estate future.
San Diego’s Real Estate Forecast for 2017 is Rosy
And that’s despite the negative outlooks of some toward all of SoCal. February 2017 saw significant price increases (e.g., La Jolla up 29% year over year for detached houses and 55% for townhouse condos) and it’s driven by the California housing shortage crisis. Because of that, we’ll see big home prices right through the spring. The same outlook applies to Los Angeles, Orange County, San Jose, and the San Francisco Bay Area.
This graphics below shows housing is in short supply and affordability is plummeting. It’s an emergency situation that forecasts big rent increases and strong home price growth. Since home building takes time especially in a heavily regulated environment, there’s little chance of diminished demand. With incomes increasing and millennials coming into their family building years, the stage is set for rocketing prices.
The Three Tiered Market in SD
This excellent chart below courtesy of First Tuesday, shows how demand for lower priced properties is almost a separate world. It’s this more steep tier that is most likely to see huge price growth. Will this turn into a San Diego housing bubble as part of a US housing crash? The 2007 real estate crash saw big drops in luxury home prices in SD and this time around, we have to wonder if foreign money will vacate fast if the market heads downward. My opinion is that California and San Diego are pretty strong and there’s no other compelling destination for foreign money.
It’s an excellent opportunity for rental property investors who want to capitalize on the severe housing and rental property shortage. Property owners near the I5 with waterfront views in La Jolla, Del Mar, Claremont, Solana Beach, and Encinitas may not have much to be concerned with.
As long as the Trump ecconomic surge continues, San Diego’s outlook should be bright.
Should I Sell My San Diego Home?
You could hang onto your home for another 20%, but if enough San Diegans do keep their home off the market due to greed, the repercussions could be serious. This holding onto property is happening all over North America. With nowhere to go, there’s likely not going to be a big selloff anytime soon so price rises could elevate. To ease this crisis, governments could offer incentives for home sellers to let go of their property? For sure, new housing will not ease this crisis. What will make a difference is Realtors convincing people to sell their homes and move on with their lives.
The housing shortage is a global phenomena, not just in San Diego. All the in demand cities are seeing foreign that’s fleeing other countries boost up prices in New York, Palm Beach, Toronto, and Miami. The new problem we may face is a shortage of construction workers, which could raise construction costs. That will put upward pressure on resale home prices.
Considering Buying or Investing in Real Estate in San Diego?
Here’s 13 factors you should be weighing when buying or selling in San Diego County:
Housing Demand – High overall demand – “all cash bidding wars” in some cases
Housing Supply – Throttled, supply is far from what’s needed
Mortgage Rates – Continuing Low, especially in light of global economic slackening
Down Payment and mortgage rules – Banks are withdrawing FHA loans however some are offering downpayments as low as 3%
Regional Employment – Very low and falling
Buyer Income – low yet rising quickly
Home Prices – High and rising – out of reach for most buyers – many consider San Diego County homes grossly over-priced
Demographics – Millennials coming into family and home buying years and their income is growing fast
Number of Renters – increasing fast
New Home Construction: slow (100k to 140k per year) and illegal workers being chased out
Economic-Foreign Trade – Trump expected to raise US GDP and add fuel to incomes and home prices
President Trump – uncertainty of what Trump will create and how much interference he’ll see
Taxes on Sale of Home – Tax situation is great for sellers
What will the San Diego Real Estate Market Look Like in 2017?
2016 was a great year and there’s no reason to believe the market will falter. In fact, San Diego’s situation is very similar to the Los Angeles real estate forecast. Typically, SD’s housing market doesn’t pick up until after the main markets have grown. Normally, it takes years before demand for high end luxury homes reaches speed here in SD.
The market right now is in waiting mode for US buyers to get richer – particularly Millenials entering their family raising years. Sure there are South American Buyers looking for homes right now, as well as Russians, but that demand could dry up soon.
With the new Trump Era fully engaged, job growth will pick up steam in Southern California. This will drive growth in places like Escondido, Del Mar, Oceanside, Carlsbad, and San Diego.
San Diego Home Prices
Take a look at San Diego’s historic price chart courtesy of SDAR. Detached home prices are up $300,000 in the last 4.5 years. We’ll be looking at similar price growth rates in 2017. Many experts are commenting more on a possible housing crash, which would include San Diego.
If you’re thinking of selling, this might be the best time to contact a San Diego Realtor and begin the process. There is no vertical price rise on the graph, or glut of first time buyers with underwater mortgages, but 29% price rises in La Jolla might be a signal of trouble ahead.
My guess is that we’re in for good times for a while in San Diego. Make sure you review the Los Angeles report and the Toronto Real estate forecast to give you a better understanding the global foreign buyer demand that’s affecting all markets. US home builders should be optimistic about demand and put pressure on legislators to free up land and offer incentives.
According to SDAR, home prices are up 6% to an average of $540,000. The real estate trends reflect the general demand as shown in the Los Angeles Market report. A sharp rise in real income, combined with lower unemployment, rising GDP, and fewer listings available points to higher prices in 2017, 2018 and 2019. But things are heating up as we saw in La Jolla where detached homes rose an astonishing 29% to an average of 2.26 million. These rates are only seen in other cities such as Toronto.
About Business: Should San Diego be a Startup Haven?
Forbes published their top cities for startups report and they chose San Diego as the best place to launch a new business. You probably wouldn’t get too much argument that a medical and security software startup would thrive here, but is SD better than silicon valley at anything else? Blair Giesen of Thevoiceofsandiego.com is a little skeptical that investors are here and that San Diego is a tech hub. But don’t tell that to San Diego Startup Week who just had their 5 day convention. And conventions are one big advantage San Diego does have.
San Diego Has All the Charm and a Good Economy – But are You Communicating That Well Enough?
California was just named the 5th largest economy in the world and it’s had a great year in 2016. That’s amazing, but does San Diego’s small business and startup growth compare to that of LA and silicon valley? Some of the data below suggests that despite growth in manufacturing and professional services, talented workers may not want to move to SD county. With the Trump presidency firmly launched, San Diego, San Francisco and Los Angeles may be headed for boom times.
Which industries are best for startup businesses in San Diego?
Team Up with the Right Partners
Should San Diego Chamber of Commerce and San Diego Regional Economic Development be doing more? Although some startups have found success, it isn’t easy to succeed especially in digital marketing against tough competition. Companies would be wise to get connected with companies and investors in other cities, perhaps Canada or the UK to build a wider base of success. By networking and accessing those components that don’t and never will exist in San Diego, SD might be able to compete equally with LA, NY, Boston and Silicon Valley. What shouldn’t be underestimated is the desire of companies in Vancouver or Toronto or London to work with SD companies. Motivation is a key factor in performance.
San Diego’s wonderful leisure climate and opportunities are a powerful draw to bring smart talent, business entrepreneurs, and investors from around the world. All that’s needed are people who believe in San Diego!
Should SD be Leveraging the 4 Pillars instead of Leaning on Them?
San Diego has 4 key industries including maritime/naval, healthcare, tourism, and research.
Although US naval fleets and operations are the biggest engine of business and tax revenue in San Diego, the future of war doesn’t look good. If defense budgets stay at current levels, that’s fine, but San Diego needs to grow and diversify to generate greater opportunity, investment and of course jobs.
According to dot.ca.gov, in 2012, most employment sectors in San Diego enjoyed job growth. And the city’s current 4.2% jobless rate is extraordinary. Most cities can only dream of that. The largest gains occurred in professional services (+5,700 jobs), leisure and hospitality (+5,400 jobs), and retail and wholesale trade (+4,500 jobs), and education and healthcare (+4,300 jobs). The only sector that lost jobs was government (-1,400 jobs).
It’s expected that from 2013 to 2018, growth will average 1.9 % per year and the fastest rates of growth will occur in information and professional and business services with annual rates of 3.8% and 2.9%
Compare SD’s per capital income growth to San Francisco’s pictured here at right, and you can expect more skilled, creative talented IT related workers to choose Palo Alto and Mountainview rather than San Diego to work and live. But for startups, it might be better to stick to Toronto (see Entrepreneur.com’s vote), Vancouver or Charlotte. Boston, LA, San Francisco, and Silicon Valley are expensive. And Sergei Brin of Google agrees.
Don’t launch your startup in Silicon Valley. During the boom cycles, the expectations around the costs – real estate, salaries – the expectations people and employees have … it can be hard to make a scrappy initial business that’s self-sustaining. Silicon Valley is good for scaling that opportunity, providing more capital and allowing more risk.” — Sergei Brin stated at the Global Entrepreneurship Summit June 27, 2016
From 2016 to 2020, SD’s population will grow about 180,000 and per capita income will grow about $4,000 to an average of $58,428. The professional services sector will see the strongest job growth in total of more than 20,000 new jobs.
And in this graphic at right, we discover that per capita income will rise much faster than the California average (other CA counties will do much better).
High wages in San Francisco, Palo Alto, Mountainview, Santa Clara, San Jose will draw high skilled IT workers like flies. However the Bay Area is pricey and the cost of doing business there will eat away at capital and profits. Silicon Valley looks to India for alleys but Donald Trump might throw a monkey wrench into their machine.
REAL ESTATE: High volumes of sales and soaring home prices indicate that compared to the rest of the nation, California metros are benefitting from strong housing sector growth in 2013. San Francisco is considered by some to be the strongest market in the country, closely followed by several other California metros including San Jose, Sacramento, Orange, and San Joaquin Counties.
Lucrative Canadian Real Estate Market Spilling over into the US
Foreign buyers are buying up US properties and the biggest increase is coming from Canadians. Even NAR’s Chief Lawrence Yun was surprised by the growing demand from Canadians given the low Canadian dollar. Yun is quoted in an LA Times report that the high housing prices in Toronto and Vancouver were also behind the movement of investment money to buy US real estate.
Canadians are now the biggest buyers of US real estate at $20 Billion per year next to the Chinese at $31 Billion. There’s no reason to believe it won’t continue right through 2018.
One Toronto real estate agent was quoted as saying buyers are cashing out in Canada and then buying second houses to vacation in the United States, usually in Florida. “The Canadians love your weather. We have more money because of our real estate market here — that’s really the answer.”
Canadian Investment in US Property up 50%
Purchases from foreign buyers in the US has grown 50% in the last year. This is a big trend which US real estate agents should be aware of. The lack of housing supply in the US is putting upward pressure on prices, which perhaps Canadian buyers are hoping to gain from.
Many Canadian and Chinese buyers go online to find suitable investment properties. Is your website visible online? Is it truly engaging for buyers and sellers? Take a good look at these real estate marketing packages to gauge where you should aim your strategy. There’s never been a better time to plan your real estate sales future.
Call me at 416 998 6246 and let’s get your career launched properly.
What real estate web design and marketing companies have learned is that Realtors want their cake and eat it too. The battle is on to give everything they ask for, but it seems the one key piece that makes it work.
Zillow, Real Estate Webmasters, Commissionsinc, and AgentLocators try to provide such a complete comprehensive real estate marketing solution. That includes technology, messaging, analytics, and more. But in my discussions with prospects who have tried them, they aren’t too satisfied. They assumed that by having it all, that the most important things would be magically solved. Turns out, digital marketing in real estate isn’t that easy despite the promises.
You might be underperforming because your web and social content sucks. This is where a creative real estate content specialist is the solution — they create unique, significant, and relevant material to your specific target clients
Google too has discovered that as a helpful their ad service is to Realtors in providing leads, that home buyer and seller conversion rates are outside of their control. They advise persistently to offer better content for your visitors. And customers of the lead generation companies see the same thing. They provide all these tools and services ad nauseum, but Realtors see the same results regardless of who they are. There seems to be something in uniqueness, significance, and personalization that makes prospects pay attention.
So what’s determining Realtor conversion rates if it’s not the all inclusive service? High Quality Content.
High Quality Content is the Holy Grail
The value home buyers and sellers are seeking is the feeling of satisfaction that they’re getting close to what they want. If they see the perfect home for them, that’s the best content you can have — the thing they want. Well, chances are you don’t have that perfect home and it may not even be on the MLS. However, your content can persuade them that you are the best channel to get that satisfaction. It’s the same with sellers who want the best price.
High quality content is text, video, images and value propositions that represent what they are after. It’s your reasonable facsimile
High quality content serves many other purposes too such as high Google rankings, and social media sharing.
High quality content makes a better impact resulting in more buyer/seller intent and more immediate action.
High quality content keeps buyers/sellers more engaged and keeping you top of mind.
So this missing piece of the pie, is also kind of an all-inclusive benefit in itself. High quality content serves all of your promotional needs and does it really well. It’s like the product on the shelf that sells itself. But it’s not a simple matter to create exceptionally good content. It’s a matter of strategy, budget and time. Too often, realtors have none of these which is why 95% of all agents never improve their earnings.
At some point, you have to stop following trends and all you can eat digital marketing schemes and begin pursuing a unique route to really satisfying your prospects. That will take expertise, time, money and confidence. Keep reading this blog and you’ll build the spirit and confidence necessary.
Content is central to success in real estate marketing today, so start thinking strategy and how you’re going to present an irresistible offer via that content.
After closing their sale, the homeowners will have a moment to reflect on it.
And they do think: “I wish we had gotten more for our home. It would have made a difference for us. Selling quick didn’t leave us with a satisfying taste.”
The reason for that is, when the emotional attachment to the home was broken, they suddenly realize it was just a house and that quite likely someone else valued it even more than they did.
There are buyers out there who would be in ecstasy if they found your home. You need to take your time and reach those people.
When you do, you won’t care about agent commissions, paperwork, and showings. You’ll get a life-changing price for your home and so you should after the blood, sweat and tears you shed to pay it off. The best hours, days and years of your life went into paying that house. Get what you deserve!!
I know, you need to sell fast to cover your new home purchase or to get rid of your ex asap. Perhaps there are other solutions that will give you time to sell now and buy later. That takes the pressure off so you can make good selling and relocation decisions instead of reacting under pressure. I’ve seen divorced couples keep calm and sell their house professionally and avoid selling for way less.
There are vultures in the market waiting for these opportunities to buy cheap. Instead, it’s wise not to get overwhelmed with emotion. Just like the cash in your retirement savings account, emotions will disappear.
Selling your home intelligently is the smart way to go. So many benefits await. As with the happy old couple in the photo above, you’ll be satisfied with your decision. Good for your self-esteem and good for your bank account. And retirees can’t possibly have enough money. You’re going to last 25 to 30 years more with no pay check!!
More Homeowners Selling Means More Competition
Yet with this sudden increase in house listings, buyers will have better selection. You’ll need to do more to win that big price. You can, if you do it right.
From how your MLS listing is worded to the multimedia presentation of your home, to how your home is improved and presented in person, there’s much you can do to boost your selling price. SELL THAT HOUSE!! for more.
90% of Buyers Go Online to Search For Homes and Information — this is where you intercept them
A Realtor Who is Doing their Own Marketing is Leaving Money on the Table
Remember that real estate is a complex business and Realtors hate doing their own marketing. If they are doing their own digital marketing, they’re probably not engaging their pool of prospects and expanding it. Your Realtor needs to be the selling mastermind with total focus on interacting with as many potential buyers as possible.
Hire an agent that respects marketing and isn’t a “transaction specialist.” A real estate lawyer and mortgage agent do the transactions. Your agent needs to impress you with the power of their reach and persuasion. They must be a selling strategist or you should find another agent.
More Leads and Prospects Please!
Consider what creates a good offer and a record breaking offer: more prospects. That’s right, the more people know your home is for sale, the more bidding pressure there will be, and the more likely the home will be sold for its true value.
Get True Market Value for Your Home
When you sell fast, or have fewer buyers, it means the market doesn’t know about your house for sale. You won’t be getting true market value. True market value isn’t comps or your home market evaluation. That’s the price that other unwise buyers had to settle for. That’s not you. If you don’t get impulsive or desperate you can get a big price.
And don’t be too impressed with over asking. With homes selling $1 million overasking price, all cash, the asking price is meaningless.
Tell your Agent you won’t hire them, unless they hire me!
Let’s Get Educated so You Will Guarantee a Higher Selling Price
The overall strategy is to: 1) improve your house, 2) use a digital marketing Realtor, 3) and let as many buyers across the country know you’re selling. Because it may be income property investors who will pay more for your old property, you want to hire a professional to help sell it. The additional cash from doing it this way could amount to hundreds of thousands of dollars. One realtor recently got $1 million over asking for an old house in Toronto.
But hold on, not all Realtors have the top selling power. I hope you don’t assume that going with the most well known Realtor in town is the only way to go. Because Realtors are having an easy time selling right now since there’s so many buyers.
It may look like they’re doing a knockout job, when in fact, they often rely on the MLS and their small list of potential buyers. “Comps” or market evaluation might be code words for “sell fast.” Keep in mind, that competent Realtors know about the Internet, Google, Facebook and top notch content.
Even top Realtors rely on the small pools of contacts of their team. But that won’t get you a big over asking price. For that, you need strategic digital real estate marketing and pull in big crowds of qualified buyers.
Maximize Reach > Create a Great Message > Filter Unqualified Visitors > Engage with Real Buyers > Close
Here’s the Best Ways to Sell Your House Quick and for More
Check out their real estate marketing provider for their effort and performance
Ask them how they will improve your house for selling
Ask them how they will achieve ‘over market value’ and if they’re not out to maximize your selling price don’t hire them
Offer the chosen Realtor a higher selling commission if they get way over market value – they’ll be worth every penny
Ask them to provide a complete breakdown of their marketing and sales process and the marketability of your home
Ask them what makes the most difference to selling at a higher price and how they will focus on that key tactic
While you might thinking that selling fast involves a quick paint job and covering up stains on the carpet, the real strategy is good marketing. And if you’re holding off paying a Realtor a commission because you resent all the selling costs and their 5 to 6% commission, relax. If you choose a digital real estate agent, they will give you a fantastic return on your investment.
Those who shop the MLS listings are often bargain hunting. Are they going to have the resources to step up the price? Not likely, which is why you need to expand your reach and make your home look like a million dollar listing. A digital Realtor offers much better reach to buyers all over the planet and throughout your city and can elevate the value for the buyer.
Hire a modern professional and you’ll be rewarded many times over with a no hassle transaction from a qualified, eager and willing buyer. No haggling and your old house will sell fast enough. Don’t sell your place in 3 days. You can reach tens of thousands or perhaps hundreds of thousands by being patient and selling it professionally.
This blog enjoys a rate of 1 Million visitors per year and you are one of them! I reached you and I can reach anyone who goes online. Get smart about digital marketing and you’ll get more than you could hope for.
Condos in Toronto on the other hand are home buyer’s soup du jour for 2018, 2019, and 2020 because of new mortagage rules and limited availability. Constructions starts are down due to rent controls and buyer worries over government behanviour.
Both provincial governments took credit for the sales and price drops, but the truth is, is that buyer psychology caused the market to moderate in sales only. Whether buying or renting, prices are high and it’s still a seller’s market.
The Toronto real estate market hasn’t lost much in the way of price even though sales have dropped. The worrisome aspect of this sudden roller coaster ride of prices is the effect on the Canadian economy which is highly rated, but somewhat insecure.
In Toronto and Vancouver, the downpayment for a home/condo alone, is enough to buy a property outright in most other places across Canada. Rising private debt, stagnant wages, and low interest rates could be enough to form a bubble and lead to a crash. But most experts feel the Vancouver and Toronto real estate markets will be just fine.
Why these politicians are so adamant in their opposition to housing growth isn’t known. As the NDP government comes into power in BC, prices in Vancouver have begun to advance. As long as housing is in short supply, the price pressure will always be upward. That’s a good cue for all real estate investors.
According to TREB, the MLS® Home Price Index Composite benchmark price rose 9.7% YoY, in October. The average selling price for all home types was $780,104 – up by 2.3% compared to the average of $762,691 in October 2016.
Graphic courtesy of TREBhome.com
House Prices in Toronto’s MLS Districts in 2017
Average Prices and Price Growth – Detached Homes TREB
Price Change Last 17 months
Price Change Last 6 Months
Stats above courtesy of TREB Market Watch Report
Toronto House Prices — MLS City Districts Home Price Comparison
TREB District City of Toronto
Avg Price October
Avg Price Sept
Avg Price August
Average Price April 2016
Avg Price April 2017
Avg Price Mar 2017
Avg Price Feb 2017
Price Change Since Feb 2017
If you examine the latest house price trends in the GTA, you’ll see moderation, yet not all TREB districts saw reductions. In some areas, they’re still climbing almost in defiance of any market meddling.
For sellers, the agonizing questions of whether they should sell now, is being solved. They held on to get the highest price and are eager now to unload their property. Some got too greedy and are accepting up to $300k less than last spring’s offers. Timing is everything in real estate.
A lack of housing supply will keep prices up for many years ahead. The Ontario governmet is more concerned with rising rents than it is in encouraging new construction. Rent contorls are already drying up up the availability of rental properties.
Currently, the condo market is thriving, however once the new construction condos have been sold and occupied, prices overall will climb.
Home Price Index for Toronto vs rest of Canada courtesy of Terranet National Bank housing index.
That Old House means so much more to buyers. They have the vision, the dream and they’re willing part with $1.5 million to live the dream. If you’ve got a home to sell right now, you need to hire a Realtor and capitalize on this glorious market opportunity.
The Mindset of Homeowners Who Need to Move on
Realtors need to be more psychologically aware and effective by adopting the mindset and vocabulary of the very people who move on. What words, phrases, images and activities do optimistic home sellers use? Retirees and 45+ people have priorities. Find them and speak their dreams.
And if you’re thinking of selling your Toronto home you need to use that vocabulary too. There is an incredible array of lifestyle opportunities for you. The world has never offered so much for the International home buyer. No homes in Ontario? No problem, beautiful places such as Costa Rica, Belize, Nicaragua, Mexico, Chile, and Dominican Republic await.
Why do people settle for a lesser life than they can have?
When Will Toronto’s Market Crash?
There may not be a crash, but no one is saying that for sure.
The Toronto Housing crisis is one partly of homeowners never dreaming that they get this kind of ROI out of the old house they bought. None of us were trained or educated for this opportunity. The result is too many older people hanging onto their homes, more out of being confused and unprepared to progress with their lives.
If you have a good Toronto Realtor, you really can sell your home at above expectations. Above asking is easy. Don’t even mention above asking, since everyone is using the lowball strategy to create bidding wars. Houses are selling for outrageous prices because Realtors are smart about building big demand from the right people.
Best Return Ever in Toronto
Even with foreign buyers out of the picture, demand for housing is huge in Toronto. From Mississauga, to Newmarket to Vaughan and Oshawa, people crave homes. And single detached homes with yards are the holy grail. So rare, so pleasant and rewarding some will sell their soul to the devil to be a homeowner. You don’t have to sell the joy of ownership theme to them.
So what are you doing right now to move forward and capitalize on the “Best Investment Return ever?” It’s not too late. I hope you’re contacting a good Realtor right now and beginning the selling preparation process.
Don’t sell your house in 3 days. Take your time and sell it for $75,000 more. It’s your hard earned investment and you deserve the best. Always think highly of yourself. Your Realtor will have lots of ideas about how to make the buyers very happy and contented. The improvements on your home for instance will add value and carry them forward.
I’ve written a variety of posts on selling your house, how now is the time to sell your house, and about retiring pleasantly in Central America. Time to travel, time to really enjoy life away from the city, and your time to celebrate your life. Sell that home!
Where will you move to? How about where you’ve always dreamed. Stats show babyboomers aren’t selling their homes because they have nowhere to move to. If a Realtor can solve that problem, they would be millionaires quickly.
A Realtor can help you determine what repairs are necessary and with the key task of finding your next home. And it’s not just a process of finding a home to buy, it’s more a process of gracefully moving into a new exciting phase of your life.
Why Should You Sell This Spring?
highest demand season from buyers (April/May/June)
prices are good and potential for multiple bids is strong in most cities
The point of selling your home is in getting the best price with good marketing, and exploring the options you have. Are you looking for a new job? Wages are rising and each month 200k new jobs are being created. Would you like to move south? Florida home prices are in a lull. Good time to buy there. Would you like something with a rental income suite or granny suite? Now you’re getting smart.
In this post, you’ll discover 14 tactics to improve your selling price. We’re in a digital world, so please don’t rely on a traditional Realtor with no online presence. Maximum price depends on your ability to reach home buyers. That’s marketing. Everything’s about marketing.
1. Find a Realtor with a great online marketing presence and then ask to be featured on that site. Make sure they advertise your home on Google and Facebook. Build preference right away. Exposing your home directly online is excellent because your selling proposition or offer is right in front of them. No vague promises but a real home for them to obsess over!
2. Promote your home for a while before putting it up for sale — set the foundation for getting a lot of bids. It takes time to get the message out to all potential buyers who may include foreign buyers. A fast sale will likely be below asking price.
3. Ensure your agent spends a lot of time contacting other real estate agents in your city since you want to access as many networks as possible. Ensure your agent is as accessible as possible to show the home and answer questions. Your agent should use SMS as much as possible because it enables fast communication.
4. Ensure you have a top notch video of your home highlighting its best features and about your great neighborhood and feature the prices of nearby homes too. Give the prospects the best context possible to see your home as the most desirable.
5. Hold a selling party and invite all your neighbors, family and friends. This is a very important event and you want the very best results. Any prospects showing up can meet the neighbors and that can be a good selling point. Don’t invite your crazy neighbors and ensure your family are nice and sociable.
6. Research local comparative homes for sale and previous solds and determine what was wrong with them and what features buyers liked.
7. Leave behind something really cool that they would like. If it’s a 55 inch screen TV, or buy a tasteful, new chandelier or expensive barbecue — something they’re bound to like. People are impressed with generosity. An instant heating water heater might be another feature that’s not expensive but highly desirable and influential.
8. Fix everything including broken faucets, door handles, floor squeaks, and make sure nothing annoying or embarrassing is visible which can ruin the mood of your showing.
9. Get your home professionally cleaned. Professional cleaners have super effective steam cleaning machines and solutions that get carpets, tiles and grout very clean.
10. Paint the interior rooms a neutral color. Given what you’re going to get for your home, don’t skimp on covering up the old, gloomy, or weird colors.
11. Clean up the yard and exterior surfaces of the home. Curb appeal is no joke. The buyers mood is set upon seeing your home from the street. Do a little landscaping, green up the grass, fix broken side walk pieces. Buyers are affected by how relaxing the yard, patio, or deck looks.
12. Have the home professionally staged. Home stagers know how to make homes look really inviting. They’ll increase the apparent value and make visitors want to linger in the home. The longer the buyers stick around the more they build their intent to buy.
13. Fix the roof and clean it. Getting the dull look out of the roof can make it look newer and reduce worries about it.
14. Promote and Sell your Home soon because for many people selling theirs and moving is easier in the May to August period.
Good Luck on the sale of your home. It is a wonderful thing you will be rewarded for all the years of hard work you spent in employment to buy it. I hope you view your home as an investment and not a keepsake. It’ll help you achieve the right frame of mind to the results you hope for and need.
The purpose of a customer relationship management solution is to help you create leads. So how’s yours doing in that regard? Some reports suggest both corporations and small business are seeing their CRM fail.
Why do CRM solutions fail? Which CRM solutions should you try? Some experts believe a lack of planning is the reason. Quite possibly the issue for small business is a lack of leads and traffic to their website. There just isn’t enough for the system to work with and add value to.
If you have enough traffic, then you can begin to draw some conclusions about where the best prospects are coming from (Google) and what content, value proposition, and communications get the best results. A really good CRM system does make a difference to your customers — and it reflects your respect for them.
There are endless varieties of CRM solutions available out there, from Salesforce to Agile CRM to Follow up Boss, offering a bewildering array of promises and actual features. So how do you formulate what’s essential for you? You’ll get some helpful ideas below.
I had the good fortune of working with a client in Calgary who used Real Estate Webmasters CRM system. I was impressed with the range of information it provided from keyword tracking to lead scoring. Of course, when you’re spending $30 to $40k for a real estate website, you’d expect to have all the bells and whistles in your CRM service too. Yet even if with all that power, a lot of the actionable intelligence comes back to your own content and engagement strategy. If you don’t have one, there’s not much to measure.
Your CRM can do it a lot for you, however you might not be getting much out of yours. The bigger your realty business, the more likely you’ll need a good CRM solution. The key to CRMs is improving your understanding of prospects and your engagement with them. That’s because you need real estate leads and improve conversion and closing rates.
What should a CRM system give you?
make customer relationship management very easy
excellent lead management using SMS, email, and web forms all in one solution
ability to send custom responses to inquirers
track visitors from landing page to ongoing engagement via email
ability to run promotions
ability to do A/B testing and assess performance
provides a customer scoring system
prospect nurturing – helpful, no hassle tools to nurture your leads
The REW CRM is awesome. And they offer good customer support. All in all, REW has what I call an awesome unique value proposition. Although some people aren’t as impressed about the UVP, I pivot all digital marketing under the significant, personalized and unique value proposition.
Automated Mediocrity = Annoyance and Brand Damage
Before you get carried away with the CRM solution euphoria and automation, focus on what messages, value proposition and epic level content you’re going to deliver via this system. I hope when you’re deciding which real estate customer relationship management system, that it’s the system that lets you deliver unbeatable value to your clients that will win you new business. Treating your CRM as an administration tool might make your marketing mediocre — it has to be to discover what messaging and content will move the needle for you.
Automating your marketing could also destroy your credibility, sincerity and brand, so ensure that it is a helper for a real relationship with clients and prospects. Trust and competence I believe are the 2 things that convince. The accent shouldn’t be on automation. Instead, it’s about improving timing of manual messages and improving engagement.
Here’s Tom Ferry with his Opinion on CRM Choice. He says the CRM’s purpose to “be the Hub” rather than trying to be the Realtor with the best unique value proposition. Which do you think is more important? Hey Tom, I do know a Realtor in Palm Beach!
Besides REW, other evolved CRM’s exist out there. One good one you might consider is Realvolve, and when you visit their website, you’ll be confronted with their UVP right away. That shows they’re on the ball. No monkeying around. They communicate right away how their system will nurture and deepen a natural/responsive relationship with your prospects. And it lets you communicate your value proposition more effectively though all touchpoints with those visitors, prospects and clients.
How to Choose the Right CRM System
As Travis Robertson talks about in this video below: you need to break the CRM selection problem down by identifying your needs first. Then with that established, you can find a solution that fits your business. Don’t skew yourself or your business to suit someone else’s system and priorities.
Here’s a List of CRM Priorities You Want to Consider:
ease of lead management – is it easy to learn and manage?
ability to build rapport and be helpful to prospect
ability to collect information from prospects
powerful search features including fuzzy logic to find things you can’t remember clearly
geo location segmentation – give prospects information relevant to where they’re living
prospect interest segmentation – disocvering their preferences/interestes to enable better engagement with the prospect
manual tagging of leads – tag whatever might be meaningful to conversion
integration with your website mls listings and content — a standard feature
analytics integration – with Google or other 3rd party analytics solutions
analytics quality and insight – lead tracking, visitor reports, member activity, knowing what generated a lead and what actions tend to maintain a prospect, time of day activity reports, content overview reports.
integration with marketing automation – ease of creating and managing email campaigns
quality of forms and pop up registrations
integration with SMS/mobile applications
A/B testing of email and marketing content and incentives
client meeting and event management
drip campaigns and nuturing
integration with other apps (realvolve doesn’t give any examples of apps)
The key to Realvolve Solution is its CRM analytics – such as prices of homes and neighborhoods clients look at, any notes they made, content viewed, where they came from, and the ROI on those prospects. You can also A/B test your pop ups and other marketing collateral and personalize your email campaigns. Find out what works fast, and refine it.
1. Real Relationships
2. Actionable Intelligence
3. Limitless Automation
These 3 keys to Realvolve’s value proposition are excellent. How many agents wish their FB and content strategy was genuine and of true personal interest to visitors and clients? How many want real insight and better yet, actionable insight?
In this video, Mark Stepp of Realvolve gives you an insightful introduction to the Realvolve interface.
Kevin Ward’s 5 Point System for Converting Internet Leads
I like Kevin Ward’s educational videos. He’s the real estate trainer, speaker and coach and CEO and owner of YesMasters, a service that helps Realtors sell more real estate and build a better life. You’ll find his videos engaging, granular, informative and well explained. He targets many of the biggest problems facing modern Realtors today.
Even if you hand off all your online marketing strategy to someone such as me, it’s really important to understand the process and appreciate what’s being done on your behalf.
“If you’re selling a ton of houses, but your working 24/7 and never able to take a real vacation…or you’re missing all your kid’s soccer games…that sucks. That’s not real success for most people.” from Yesmasters.com
He begins this Youtube video below by saying the Internet isn’t everything in the world of real estate and real estate marketing. However he does say the Internet has changed real estate forever. And he considers online leads worthy enough to create an Internet lead conversion system.
The Internet can make your lead generation and lead management a lot easier so you can have a life and see your kids soccer games. He should probably have added that an Internet lead is as good as you make it. You can create junk leads, unmotivated leads, disappearing leads or converted sales. In fact, it’s up to you and your website content strategy. Don’t blame the Internet. Blame yourself. If you have no respect for content strategy right now, it won’t take long to see how your content strategy is what serves your visitors.
It’s not that Internet leads can’t be converted well. The real issue is the source you’re accessing (Google, Facebook, lead generators, Realtor.com, Sothebeys.com, Remax.com, Coldwellbanker.com, etc.) and whether you have the content and system to get them to call you.
Kevin talks about how building trust, communicating, and connecting are still key real estate agent skills. What he doesn’t mention is how your Internet marketing strategy creates the setting for the kind of relationship you want. Your content shapes everything and magnifices the intent the possess. Conversion transactions may happen offline, but prospects are online and they are reachable when they’re online. You can reach people, bring in traffic and get them to reach you with a solid high performance content, PPC, SEO and social media strategy.
As you’re watching the video consider how valuable good content is in creating visitors and turning them into prospects and a closing. If you had 70,000 visitors per month as I do, how many could you convert to a sale? Big traffic and very persuasive content = a primed and juiced up visitor. Maybe you could make millions. Kevin is going to explain his funnel process below.
Kevin’s 5 Point Funnel Process for Converting Internet leads (and my 2 bits too):
1. Prequalifying and Distinguishing between Lead and Prospect – will they make their decision now or later? You can create content and get your visitors to indicate when they’re expecting to make a decision. The content they choose to read tells you what phase they’re in.
2. Get them on the Phone Fast. Yes, the goal is to get them to phone, to talk to you right away. It’s the most immediate and engaging medium and the prospect wants to speak with you now. Forget CRMs for now. This is where your phone skills save the day.
3. Speed and Urgency: Speak to them within 2 minutes. People are searching and don’t want to interrupt their search experience. If you don’t answer right away, you’ve ruined their experience. The velocity of that person’s online reading and engagement translates to their sense of urgency. They’ll be drilling down into your listing or content and that’s when the urge to speak with happens. You can stimulate or launch that urgency and get them to call you with your content. Kevin says it may take you 6 to 24 months to convert, but I have to argue that prospects don’t call an agent until they’re 80% of the way through the process so they’re more ready to get going on this than you think. It’s your online website content that does the hard work to generate that phone call.
4. Patience and Preparation. As Kevin says, it’s not a churn and burn process. They’re not going to buy or sell right away, so what do you do in the meantime? Your website content can also help you prime the visitor/prospect beforehand, so they stick with you. They want to know what’s going to happen ahead of time and they want to be in control. You can use the power of suggestion to prep them for nurturing.
5. Use A Nurturing System. Kevin recommends a good lead nurturing system (doesn’t call it a CRM) that takes them from their in limbo phase and keeps them moving toward their decision. He suggests talking to them once per month and never pressure them to do anything they’re not ready to do.
So now your next step is to figure out what is the type of content that creates high Google rankings, gets shared socially, gets your value proposition across laser-clear, keeps visitors engaged and wanting to return to your site, and what urges them to make contact with you. If you get that phone call and they’re eager, then your EPIC content has done the job.