10 Aug 2010

Canada experiencing largest residential decline in real estate pricing since first quarter 2010

Since harmonized sales tax (HST) came into effect, increased costs for resale homes has put a damper on the market place. More people will try and buy resale homes in order to save the HST that is only payable on new homes.  Notwithstanding, increased pressure on resale homes, Canada is experiencing the largest decline in pricing since leading the pack in the first quarter of 2010 with largest increase in sales prices.  According to economist Adrianne Warren, “Demand and prices have softened alongside moderating global growth…The slowdown has been the most dramatic in Canada.” Average Canadian sale prices during the first quarter were up 16.6 per cent year over year, but in the second quarter, just 6.6 percent.

What this decline means for Torontonians selling homes is that there will be more supply, fewer sales and more competition among sellers of resale homes.

For sellers to get top selling prices, they will have to remove all stops and show the house in the most and best marketable condition.

This means a thorough cleaning of the home from top to bottom and removal of all clutter from the space. There is no one better than a professional Toronto home stager to achieve these goals. They will advise you what stuff stays and what stuff goes, how to best show off your various spaces and even supply scaled updated furniture if there are some spaces that are lacking furniture to best show off your house.

Some stagers will not remove clutter offsite but store it in a corner of the seller’s basement or in a garage because the home owner is trying to save money. This is definitely not the way to do things.

Any clutter that will be removed from the Toronto resale home should be stored offsite. This means that stuff should at least be stored at a parent’s or friend’s basement or garage. However, if you do not want to impose on friends or family, then your neighborhood Toronto self storage is ideal for this type of thing. The gain in the sale price will more than compensate for the inconvenience of storing your clutter offsite.

Not only that, you’ll get an early start on packing and once the clutter is removed, it is easier later on to remove the core furniture without all the packing of knick knacks and various other clutter. 

Whether you need short or long term storage, look for Toronto storage reviews of self storage companies that have unblemished reputations for storing your clutter. Take the example of  Jiffy Self Storage in Toronto. They have a perfect record of zero complaints with the Toronto Better Business Bureau, have been featured in Toronto Life Magazine’s annual Best of the City reviews as, “Toronto’s Best Storage” and have won the Consumer’s Choice Award for Business Excellence 14 consecutive times.

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