Peterborough Real Estate Stats • November 24, 2021

October 2021 Update

by Kya Seguin

DID YOU KNOW?

– The average sale price is up 35% from this time last year

– Inventory levels continue to be in favour of Sellers, with 0.5 months of inventory in the City of Peterborough (that means it would take 15 days to completely sell the homes that are currently listed for sale in the city, based on the the current rate of sales activity)

– Houses in the West end of Peterborough are selling the most – with 29 sales last month

– Interest rates are starting to go up, it’s a good time to talk to a mortgage broker and lock in a rate now

Take a look at the market snapshot for October 2021, and reach out if you have any questions. Whether you are buying, selling, or just daydreaming about a new home, I can help you make an informed decision.

Housing Trends & Tips • November 10, 2021

What Not To Do

by Kya Seguin

You’re shopping for houses and you’ve got your mortgage pre-approval lined up. Great! Keep in mind that there are a few things you should NOT do:

– Don’t make a major purchase. This will change your credit score and can possibly disqualify you from a mortgage.

– Don’t change jobs unless it’s absolutely necessary. A consistent work history is crucial to lenders.

– Don’t ignore lender requirements. Be absolutely clear on what the lender requires from you throughout the process and be sure to follow up on these items.

– Don’t go at it alone. Give me a call today so I can help you navigate the process and help you find the home of your dreams.

Peterborough Real Estate Stats • October 19, 2021

September 2021 Update

by Kya Seguin

DID YOU KNOW?

– The average sale price is up 29% from this time last year

– Inventory levels continue to be in favour of Sellers, with 0.8 months of inventory in the City of Peterborough (that means it would take 23 days to completely sell the homes that are currently listed for sale in the city, based on the the current rate of sales activity)

– Houses in the West end of Peterborough are selling the most – with 29 sales last month

– Record-low mortgage rates, pent-up buyer demand, low inventory and relocations made possible by remote work have all contributed to strong sales and price appreciation

What’s interesting about the supply and demand issue we’re facing is that a lot of the “supply” in Peterborough is above the average sale price, but the “demand” is for lower…

Take a look at the local stats for September 2021, and reach out if you have any questions. Whether you are buying, selling, or just daydreaming about a new home, I can help you make an informed decision.

Housing Trends & Tips • October 6, 2021

Where Your Municipal Tax Dollars Go

by Kya Seguin

Have you ever wondered where the money goes every year when you pay your property taxes?

To get a breakdown of exactly where YOUR tax money is going, you can head over to the City of Peterborough website to their property tax calculator, input your address and check it out: https://www.peterborough.ca/Modules/Tax/PropertyTax.aspx

The website will show you the assessed value of your property. This value is usually lower than the actual market value of your property (keep in mind, you want this value to be lower, because then your taxes are lower).

In this example, I am using a recently sold property in the City of Peterborough that sold for the average sale price ($610,000), based on year-to-date sales in the city so far in 2021. The assessed value for this property is $270,000 and the total taxes are $3,910.26 for 2021.

Out of this amount, $413.10 is going towards Education. You can have a look at the breakdown below to see how the remaining municipal tax dollars are distributed (based on this example).

If you have any questions, please reach out any time! 🤓

Home Maintenance • Housing Trends & Tips • September 27, 2021

Considering a Fixer-Upper? What You Need to Know

by Kya Seguin

Fixer-uppers are tempting prospects. Such properties let you buy into a desirable neighbourhood at far below typical market value. That’s because you’re not buying a typical house.

With fixer-uppers, you must think carefully. Ask yourself: Will this house be worth the work I put in? To find your answer, follow these three steps.

1. Add up the costs: First, consider everything that needs to be done in the home. Always assume more work rather than less. Add up all costs for materials and labor. If you plan on doing some of the work yourself, factor in your own labor costs as well. Hiring a home inspector helps a lot during this step. Their expertise can ensure you’re not missing any costs hidden behind the walls or under the roof.

2. Calculate the final value: Regardless of whether you plan to sell the house or live in it, you need to estimate what the finished value will be. Search for comparable listings, or “comps,” that have sold in the area to get a rough idea of what to expect. I can help with this step and run a search on your behalf.

3. Find the difference: Finally, subtract the total estimated costs from the estimated final value. Subtract an extra 5-10% for unforeseen issues. The number you get should be the absolute upper limit of what you offer. Anything more, and a great deal can easily turn into a money pit.

If that final number looks good to you, then that fixer-upper may be just what you’ve been looking for. Time to secure a renovation loan!

Peterborough Real Estate Stats • September 21, 2021

August 2021 Update

by Kya Seguin

DID YOU KNOW?

– The average sale price is up 29% from this time last year

– Inventory levels continue to be in favour of Sellers, with 0.5 months of inventory in the City of Peterborough (that means it would take 16 days to completely sell the homes that are currently listed for sale in the city, based on the the current rate of sales activity)

– Houses in the West end of Peterborough are selling the most – with 43 sales last month

– Record-low mortgage rates, pent-up buyer demand, low inventory and relocations made possible by remote work have all contributed to strong sales and price appreciation

Take a look at the local stats for August 2021, and reach out if you have any questions. Whether you are buying, selling, or just daydreaming about a new home, I can help you make an informed decision.

Home Maintenance • September 2, 2021

Organize your closet like a champ

by Kya Seguin

Want a closet that looks like it’s straight out of a magazine? Follow these tips to organize masterfully and give yourself peace of mind.

Group like clothing items together – group same-length dresses, long-sleeved shirts, etc. together in your closet to create a clean look.

Add more hanging room – you can find additional closet bars for cheap and installation is quick and easy.

Keep things uniform – matching hangers & organizers give your closet a more purposeful look.

Try colour-coding – organizing your closet by colour makes matching easier!

Get creative with shoe storage – try a shoe organizer that hangs on your closet door or cubby shelving on the floor.

Peterborough Real Estate Stats • August 17, 2021

July 2021 Update

by Kya Seguin

DID YOU KNOW?

– The average sale price is up 35% from this time last year

– Inventory levels continue to be in favour of Sellers, with 0.6 months of inventory in the City of Peterborough (that means it would take 19 days to completely sell the homes that are currently listed for sale in the city, based on the the current rate of sales activity)

– Houses in the West end of Peterborough are selling the most – with 37 sales last month

– Record-low mortgage rates, pent-up buyer demand, low inventory and relocations made possible by remote work have all contributed to strong sales and price appreciation during Covid-19

Take a look at the local stats for July 2021, and reach out if you have any questions. Whether you are buying, selling, or just daydreaming about a new home, I can help you make an informed decision.

Home Maintenance • August 13, 2021

Preventative Home Maintenance in a Jiffy

by Kya Seguin

Most of us know that regularly changing your car’s oil is the key to keeping it running for the long haul. The same theory applies to homes — a little preventative maintenance will save you down the line. Here are four quick and easy tasks that prevent costly repairs…

1. Declutter your gutters. Preventing build-up in your gutters is key to getting water away from the foundation of your home. Cleaning before winter also prevents ice build-up that can cause extensive damage.

2. Inspect hardscapes. Snow, rain and freezing temperatures can be tough on concrete, asphalt and other hardscapes. Look for cracks where water, weeds and insects can get through. Small cracks can often be sealed with a pre-mixed patch, but call a professional if you find more significant gaps or shifting of concrete.

3. Let the laundry room breathe. Vacuuming out dryer vents and air ducts helps maximize efficiency and prevents the build-up of flammable lint.

4. Clear your drains. Pouring a cup of baking soda, followed by 1/2 a cup of vinegar, down your drain and then flushing with hot water will prevent clogs.

Peterborough Real Estate Stats • August 6, 2021

June 2021 Update

by Kya Seguin

DID YOU KNOW?

– The average sale price is up 42% from this time last year

– Houses in the West end of Peterborough are selling the most – with 44 sales last month

– Record-low mortgage rates, pent-up buyer demand, low inventory and relocations made possible by remote work have all contributed to strong sales and price appreciation during Covid-19

Take a look at the local stats for June 2021, and reach out if you have any questions. Whether you are buying, selling, or just daydreaming about a new home, I can help you make an informed decision.