If you’re craving homemade bread but you don’t have time for a big fuss, this is the recipe for you! Irish soda bread bakes crusty on the outside, with a soft, fluffy centre. The flavour is quite basic, but perfectly balanced.

Ingredients 

2 cups all purpose flour
1 1/2 tsp baking soda
1/4 tsp salt
1 tbsp sugar
1 tbsp Herbs de Provence (or dried dill)
1 cup shredded Irish cheddar, divided
1 cup buttermilk

1. Preheat oven to 400F. Line a baking sheet with parchment paper.
2. In a large bowl, whisk together flour, baking soda, salt and sugar. Stir in half of the buttermilk, the herbs and 3/4 cup of shredded cheddar. Pour in remaining buttermilk, and stir until dough comes together into shaggy ball.
3. Place dough on a lightly floured surface and knead for about 1 minute, just until the dough comes together and you can shape it into a fairly smooth ball. Press into a disc about 1 1/2 inches high and place on prepared baking sheet.
4. Sprinkle with remaining 1/4 cup cheese. Cut a deep cross in the top with a sharp knife.
5. Bake 30-35 minutes, until the top is a dark golden brown. A toothpick will come out clean when inserted into the centre.
6. Allow to cool on a wire rack before slicing.

Makes 1 loaf, serves 8

With houses selling faster than ever, many homeowners are choosing to sell without the involvement of a real estate agent. Why would anyone do this? For someone unfamiliar with the industry, it looks like a good idea. By selling your house on your own, you avoid paying a commission to the agent. And in this market, you don’t need a lot of exposure to bring in the offers. Simply listing your house on MLS can generate a lot of interest. 

As a result, you see “For Sale By Owner” (FSBO) signs popping up more often.

Many sellers believe they’ll end up with more money in their pocket by selling without an agent. However, this is rarely the case. An agent will almost certainly earn more for you than you ever could on your own, even in this fast-paced seller’s market. How could this be? 

Licensed agents are well trained, certified and have access to many resources an FSBO seller does not.  

Here are a few of the many ways an agent can help maximize your sale.

Listing at the Right Time

When you hear the term “Seller’s Market,” it’s a general principle that more people are looking to buy a home than there are houses for sale. However, prices fluctuate in every market, and timing matters greatly. You can’t rely on general principles if you want to maximize your sale. For example, everyone “knows” that Spring is the best time to list your house. But each city is different, and there are other factors at play. Sometimes a new law comes into effect that can affect housing prices. 

Nothing feels worse than selling your house today, only to find out you might have gotten thousands more by waiting a couple of weeks. 

No matter what the market is doing, there are still better times than others to list your house for the maximum return.

Upgrading the right way. 

As a seller, you know you need to get your house in tip-top shape before listing it on the market. But do you know what upgrades to make? Some renovations will increase your bottom line by thousands of dollars.

Some won’t help at all and are a waste of your time and money. Other upgrades can actually hurt your sale. An agent with experience in your area knows what buyers are looking for. This insight will save you a lot of expense and hassle from performing unnecessary renovations.

Effective marketing strategies 

Many home sellers list their homes on the MLS, and that’s the extent of their marketing. But the biggest single factor in getting the most profit from your house is finding the right buyer.

An experienced agent often has a roster of clients who are already searching for a home in your area.

Finding a highly-motivated buyer means your house will sell quickly, with minimal hassle and at a price you can be satisfied with. 

Expert Selling and Negotiation Skills

Without representation, you’ll have to deal personally with everyone who expresses interest in your home. This means constant phone calls, emails and sudden knocks at the door from passersby who saw your sign.

Do you know how to weed out those who want to beat you down on price and those who just want to walk through because they’re nosy?

And when you do stumble across an interested prosper, are you prepared to do a complete sales presentation and negotiate top dollar for your property? 

As you can see, selling a house is more complicated than you may have thought. And we haven’t even talked about the paperwork yet.

Handling the legalities 

Every real estate transaction involves several legal, binding contracts.

If you accidentally violate one of these agreements, you may end up spending your profits on lawyer’s fees. Or a sale you thought was a sure thing could fall through because of some faulty paperwork.

Think of your agent as an investment.

Many real estate agents provide complete service, start to finish. They even pay many of the expenses of selling your home out of their own pocket, including the staging and marketing expenses. 

If your house doesn’t sell, it costs you nothing.

At the highest commission rate, you only have to sell for 6% more to earn back every penny of your agent’s fees. However, you can expect much more. The average sale through a Realtor® is 20% higher than a sale by owner. What does that math look like?

Let’s say you sell your house for $500,000. An agent would add an extra $100,000 to your final price.

Since the maximum commission would be $36,000, you’d have at least $64,000 in extra profits.

Perhaps even more important than the price is the peace of mind that comes with using an experienced real estate agent. You will likely get more money from your sale, and you’ll have less to worry about and fewer expenses. 

Want to know more about how to sell your house the right way? Here are some other articles that will help:

• Our Top 7 First Time Seller FAQs
• How to Set the Right Home Price the First Time
• The Costs of Selling a Home: What to Expect

Are you ready to take the first step in finding an agent to help sell your home? You can learn more about our process in our free seller’s guide.

If you are thinking of upgrading your home in the near future, you undoubtedly have many questions on your mind. Some are easier to answer than others. 

Want to know how much your current home is worth?  That’s as easy as doing a quick assessment.

The most pressing question that we get asked a lot is “What should I do first?” Is it better to sell your home before you look to purchase a new one? Or should you look now and buy while still in your current house?  Depending on your financial situation, and the current real estate market, there is a strong case for both.

The Pros and Cons of Buying First

The significant advantage here is equity. The longer you keep your current home, the more equity you build. And with the market going up, your home naturally increases in value over time.

You can use this equity to finance your new purchase. Now, you’re building wealth on two properties. Buying first is ideal in many situations, but it’s not the right choice for everyone. 

Who should buy first?

Buying first is an excellent option if both of these scenarios apply:

1. Your finances allow you to hold two properties comfortably. (Interesting fact: this is the exact strategy some investors use to build their long-term wealth!) 
2. You don’t need to move urgently and have time to decide and plan. If you buy first, there is no rush to leave your current house. You can take your time packing and moving, which eliminates most of the stress from the process. Buying first also gives you all the time you need to find the perfect home, and you won’t need to settle for anything less.

The disadvantage is it can be a heavy burden to carry two mortgages. And unless your financial situation is very secure, buying first can be risky. If you cannot make both mortgage payments, you could lose one or both properties.

The best way to minimize this risk is to thoroughly analyze your finances to know if you can afford two payments, and for how long.

It’s also wise to have all the minor repairs and staging done on your current home, so it’s ready to sell on short notice if you ever feel overwhelmed. 

Want to know more about what it means to sell your home this year? Here are some more resources to guide you:

• Housing Market Insight for January 2022
• What You Need to Know About Selling a Home in 2022
• Our Top Seven First-Time-Seller FAQs

The Pros and Cons of Selling First

The advantages of selling first are clear. You have the cash in hand for a down payment on your new home. With this guaranteed financing, you can place strong offers and compete with other buyers. Selling first takes all of the guesswork out of the equation. You will know precisely what price range you can afford.

The disadvantage is how quickly the market can move after you sell. Prices are still on the rise. If you sell too early, you may find it challenging to re-enter the market.

Selling first may also put you in a time crunch. Closing dates are firm and don’t give you much time to find and purchase a new home.

Again, these risks can be reduced by having a plan in place.

You can research what’s available in different areas. For example, a home in Burlington right on the Lakeshore may be out of your price range. But if you’re flexible about your location, you’ll find more affordable options.

With a plan in place, you’ll be in a solid position to move quickly with your sale and subsequent new purchase.

Who should sell first?

You should always sell first if you have any concerns over your finances or you know you can’t bear the cost of two mortgages.

1. Selling first is ideal when you need to move quickly. If relocating for a new career, you probably won’t want the workload of owning two properties even for a short time.
2. You’re not comfortable with the risk associated with buying. Even if your finances allow you to carry two mortgages, it doesn’t mean you should. Deciding whether or not to take that risk is a highly personal choice, and not one to take lightly. 

What does buying a home look like in 2022? Check out some of our other informative articles below:

• What You Need to Know About Buying a Home in 2022
• The True Cost of Buying a Home
• What You Need to Know About the New Stress Test Changes

Whether you decide to sell or buy first, you need a strategy and expert guidance. A professional real estate agent who is familiar with the area is a resource you don’t want to be without. If you have any questions about buying or selling, we can help!

This whipped feta with greek yogurt dip is paired with balsamic roasted strawberries and basil. It’s a sweet, savoury, and DELICIOUS appetizer or starter. Can be made in advance, with an option to serve as crostini!

Ingredients

January 2022 – GTA Housing Market News

What is going on with the real estate market?

Here are the January stats:

• The average selling price was up in the GTA by 28.6 per cent year-over-year
• The average sale price in the GTA is $1,242,793⁠
• Listings remained in short supply, resulting in tight market conditions and very strong year-over-year price growth⁠

Milton Real Estate Market

The average price in Milton $1,381,000

Burlington Real Estate Market

The average price in Burlington $1,322,000 

Oakville Real Estate Market

The average price in Oakville $1,564,200

Have questions about the market? Contact us today to learn more!

Previous Reports on GTA Housing Market News

December November October September

Many Canadians who currently rent are dreaming of homeownership. If you fall into this camp, you may be wondering whether 2022 is the time to make your dream come true. The truth is, there are many things to consider—including which option will most benefit you financially. 

If you’re trying to decide whether to buy or rent the next place you call home, here’s what you should know…

The current market

When you’re thinking about buying, it’s important to understand local market conditions. There’s no doubt that we’ve been in a seller’s market for some time now, and (while we certainly can’t predict the future) there’s no indication that this trend is going to change anytime soon. 

While 2022 has just begun, last month’s numbers can provide us with some much-needed insight. In Halton Region, the average home price is on the rise—and for December, it reached $1.34 million. In Milton, it was nearly $1.35 million, and in Burlington, it was $1.23 million.

In other words, it’s hard to get a foot in the market right now. Given the sums of money involved, it’s critical to think your decision through. That said, if you have the time and resources to compete, there are some substantial benefits to doing so. 

From long-term appreciation to greater financial security, there are many reasons why so many buyers can’t wait to take this step—even if it means starting with a small condo when they’re looking forward to buying a house. Let’s take a closer look at the financial advantages of purchasing a piece of real estate right now.

The first step towards buying a home is making sure you’re informed. You’ll find in-depth information about what the process is like right now in our recent blog posts below.

• How New Government Policies Could Help First-Time Buyers
• Your Guide To The First Time Buyers Incentive. Is It Worth It?
• Best Burlington Condos For First-Time Buyers

The financial perspective

Studies frequently show that in most cases, owning a home is more financially beneficial than renting in the long run. To start with, as The GTA’s population grows, so too does the number of people who need a place to live. That’s putting rentals in high demand, so it’s no surprise that rents are on the rise. Unfortunately, when you pay this monthly cost, your money doesn’t work for you. It helps your landlord pay their mortgage.

If, on the other hand, you decide to buy, a significant portion of your mortgage payments will go towards your principal. In a sense, it can be considered a forced savings account (since you’re constantly building equity). When you look at it this way, you can see how monthly rent can be significantly more costly than your mortgage payments. 

When it comes to improving your financial situation, owning a home gets even better. You’ll not only benefit from equity but long-term appreciation. In the vast majority of cases, local real estate becomes more valuable over time. While the market fluctuates, it also bounces back—and an experienced agent can help you get top dollar when you’re (eventually) ready to sell.

Buying a home also gives you the opportunity to bring in passive income if and when you decide to move into another home. By renting out the living space you buy, you can grow both your bank account and your personal net worth. Having an investment property is also a great way to diversify your portfolio. 

Ready to learn more about the purchase process? Start by downloading our buyer’s guide right here.

Your long-term priorities

Let’s say you don’t have your future financial security in mind, nor are you thinking about growing your wealth by investing. The truth is, you’ll almost certainly need to think seriously about money matters in the years ahead. Owning a piece of property can give you a significant headstart.

Of course, there are other reasons to buy a home, the biggest one being your quality of life. If you’ve always envisioned yourself in a place you can truly call your own—where you can renovate to your heart’s content and take pride in ownership—that’s one of the best possible reasons to purchase if you can afford to.

All of that said, there are situations where renting is the better option. Will it put you in financial peril if you buy today? Are you unsure of where you want to be in the near future? Does the commitment of owning (and all the potential hassle and costs associated with ongoing maintenance) feel like a deterrent?

At the end of the day, the decision to buy or rent is a significant one, and it shouldn’t be taken lightly. The good news is, a real estate professional who’s passionate about what they do should be happy to answer your questions—and help you determine whether buying is right for you!

Have unanswered questions about buying a home? We would be happy to discuss them with you. Get in touch here.

For many Canadians, getting their foot in the door of the real estate market is harder than ever. New stress test rules are making it harder to borrow. While recent years have seen the minimum down payment rules shift in favour of a larger lump sum. And that’s not even mentioning the current seller’s market climate with steep competition and rising real estate prices. 

However, all is not lost and the dream of homeownership is still a viable possibility for millennials and their contemporaries. 

Especially when we consider that a major part of the Liberal Party’s election platform hinged on policies targeted to help first-time buyers. 

Let’s take a look at how some of these programs could help you reach homeownership in 2022:

The Tax-Free First Home Savings Account

Currently, Canadians can draw funds tax-free from their RRSP for a house downpayment, however, the catch is that they are then beholden to pay that money back after a certain period of time. 

The Liberal Party has promised to implement a new type of savings account that will help first-time buyers save for a down payment without requiring them to repay. The account is designed for Canadians under 40 and will allow them to save up to $40,000 toward the purchase of their first home.  

Additionally, if you save $40,000 but do not use the full amount for your down payment, the leftover funds will revert back to an RRSP. 

Did you know that we host monthly webinars for first-time buyers? You can sign up for our latest webinar right here. 

The Buyer’s Bill of Rights

In today’s competitive seller’s market, buyers can feel discouraged about bidding on properties. First-time buyers especially, since they are the ones with less experience and, in most cases, less purchasing power. 

The Liberal Party’s Buyer Bill of Rights intends to soften some of these issues. Policies like a ban on blind bidding, establishing the legal right to a home inspection, and numerous clauses that improve the transparency of real estate transactions in favour of the buyer. 

Ready to buy your first home? Take a look at some of our great resources for first-time buyers:

• How Will Rising Interest Rates Affect Buyers?
• Our Top 6 Milton Condos for First-Time Buyers
• Our Top 8 First-Time Buyer FAQs

Doubling the First-Time Home Buyers Tax Credit

A lot of Canadians rely on the First-Time Home Buyers Tax Credit to help with many of the extra expenses associated with buying a home. It’s a helpful resource to pay for things like closing fees, moving expenses, and more. 

Currently, the tax credit is capped at $5,000 but the plan for 2022 is to increase it to $10,000. 

Want to learn more about getting a mortgage? We spoke with some of our amazing mortgage broker contacts to answer some of the top questions you might have. You can read the post here.

Still Available: The First-Time Home Buyer Incentive

This program has been around for a while now and has seen some improvements made over the year. The incentive is a shared equity mortgage designed to help qualified first-time homebuyers enjoy a lower monthly mortgage payment without having to pay a larger lump sum down payment. 

The incentive is shared with the Government of Canada. And the amount depends on the overall purchase price of your home. Although you are required to eventually pay back the investment, you are not required to pay interest or ongoing payments on the loan. 

Get your buying journey started by downloading our Buyer’s Guide right here. 

December 2021 – GTA Housing Market News

What is going on with the real estate market?

Here are the December stats:

• Average sale price across the GTA is up 17.8% year over year ⁠
• Average sale price in the 905 area code for freeholds saw an increase of 33% over last year Dec 2020
• Supply continues to be an issue across all home types ⁠
• Despite continuing waves of COVID-19, demand for ownership housing sustained a record pace in 2021.

Milton Real Estate Market

The average price in Milton $1,348,700

Burlington Real Estate Market

The average price in Burlington $1,228,800

Oakville Real Estate Market

The average price in Oakville $1,445,000

Have questions about the market? Contact us today to learn more!

Previous Reports on GTA Housing Market News

November October September August

It’s happening: 2021 is drawing to a close. The ongoing pandemic has led to plenty of ups and downs this year, and the real estate market has been no exception. Low inventory and high (in fact, record-breaking) home prices have meant that many sellers achieved incredibly successful results—but what will the year ahead bring?

If you’re planning to sell in 2022 and you’re wondering what will come next, you’re not alone. We can’t predict the future of real estate, but given our decades of local experience, we can certainly provide some context and make a few educated guesses.

Here’s what you should know if you’re putting your home on the market in 2022…

You’re in a good position, no matter the home you have

There’s no denying that the local real estate market has been a hot commodity of late, and detached homes have been the most in-demand housing type. We’re seeing many buyers who are seeking more space during the pandemic, purchasing houses with some outdoor square footage. That said, we’re seeing a flurry of activity across housing types.

For one thing, limited inventory means many buyers need to be more flexible. That means they’re purchasing properties that don’t necessarily fit their ideal criteria and those that may not be in perfect shape. In addition, many buyers are looking to the future, thinking about what will constitute a good investment in the years ahead. 

For example, while bungalows have always made fantastic family homes, we’re seeing a resurgence of interest in this particular property type. Often, they afford buyers the opportunity to rent out their basements as separate apartments (an increasingly popular way to make some extra income). In some cases, they also contain the extra space required for the much-coveted home office.

Not only are some buyers more inclined to think about a range of property types, but they may also be more willing to consider various locations. In some cases, former city dwellers are moving away from urban centres in light of the pandemic. This has boded well for sellers in suburban and primarily residential communities—and likely will for the foreseeable future.   

All of that said, consider the fact that interest rates are set to rise by Q3 of 2020. When that happens, affordability will go down for many home buyers. That may or may not have an impact on how you should price your home (depending on who your most likely buyer is). A real estate professional who knows the local market can help you understand all the nuances involved. 

Wondering whether selling with our team is right for you? Learn more about what it’s like to work with us.

• How we Help Sellers
• Our Seller’s Guide

Buyer competition will likely remain strong

As a seller, you’re in a good position right now, as the market is very competitive. The most recently-released statistics for Oakville-Milton reveal that in November, the number of new listings added for that month were the lowest they’ve been in over a decade. At the same time, sales rose by nearly 5 per cent year over year.

Low inventory has meant more buyers competing for properties that are on the market, and we believe we’ll see more of this in the new year. If that happens, it’s going to mean more multiple offers scenarios, quicker sales, and more transactions where the sellers receive offers over asking. 

It’s worth noting that we may see a rise in the number of sellers looking to take advantage of these conditions. Even if low inventory persists to the extent that it currently exists, many of the sellers who do make a move will likely take steps to ensure their property looks its best—and you should too. It could mean the difference between selling your home and selling it for more than you ever could have predicted.

Expert advice will help you make the most of the situation

When it comes to the best time to sell, is the spring still considered ideal? Should your home be staged—or is it unnecessary when the market is this hot? Does it make sense to price your home below market value right now to generate multiple offers?

Sellers always have questions about how to get the best possible price and conditions. That’s especially true right now when many of the so-called “rules” of the market have gone out the window (at least for the moment). The good news is, with conditions so strongly in your favour, it’s a matter of making the best of a good situation.

If you’re preparing to take this life-changing step, your best bet is to find a real estate agent who will help you price, prepare, and market your property for the best possible price. It’s all about building a strategy based on long-term local expertise, which is why it’s so important to find a professional who can provide it. 

Interested in learning more about selling with us? Here are some of our latest selling posts:

• How to Set the Right Price the First Time
• Our Top 7 First Time Seller Tips
• The Costs of Selling a Home: What to Expect

The bottom line

If you’re preparing to sell in 2022, you’re well-positioned to achieve fantastic results. That said, there’s a lot of uncertainty right now, including in the real estate market. Now is the time to do your research and find a skilled agent who can act as your guide. Remember that even in a market that favours you, strategy is a must!