Virtual Staging is a winner!

What do you do when you stare at an empty room? Chances are, you envision what it would look like furnished. You’d likely try and picture how big a bedroom would be once a bed was in it, or what the best layout in the family room would be. Let’s face it, empty rooms can feel cold and often appear small. Rooms with well laid-out furniture and accessories bring warmth and offer inspiration.

From my experience in the real estate industry, I’ve witnessed buyers first-hand having trouble picturing themselves in a home simply because it was empty. This is exactly why I offer Virtual Staging to my clients!

I recently had the opportunity to list a brand new condo townhouse in Vaughan for a good client and friend of mine. I used Virtual Staging to showcase the unit to its fullest potential. Interested to see the difference for yourself? Move the sliders below to left and right to view the before and after photos.

I’m happy to report, the Virtual Staging and digital marketing package provided for this property resulted in a new record-high lease price!

You can check out some of the other ways I’m staying ahead of the curve to benefit my clients here.

As always, please feel free to reach out with any questions!

2020 was a record year for real estate in the GTA. Despite the COVID-19 pandemic, government restrictions and uncertainty in the economy, there were over 95,000 home sales. If you’re thinking that sounds like a high number, that’s because it is. In fact, it’s the third-highest result on record. That’s not all though. Another, even more significant record was recorded in 2020. The average selling price in the Greater Toronto Area has reached almost $930,000 – up by 13.5% compared to 2019.

What’s fuelling this hot market you ask? A few things..

1. Increased desire for single-detached homes. With the pandemic lockdowns, work-from-home trend and newly introduced stay-at-home order, who doesn’t want a little more square footage and a backyard these days?
2. Cheap money. Record low mortgage rates are allowing buyers to qualify for much higher amounts than they previously would have, greatly increasing their buying power.
3. Low inventory + high demand = bidding wars. With not much inventory to choose from, days-on-market are significantly decreasing as more buyers look to make purchases.

There are however some good buying opportunities out there right now for those looking to invest in Toronto’s condo market. From the second quarter of 2020 and onward, there has been plenty of condo apartment inventory available to choose from. I have a feeling this opportunity won’t last for too much longer though. In the past month-or-two, we’ve seen a lot of that inventory start to get eaten up. It’s only a matter of time before Toronto condo prices begin to rise as well – and I anticipate that to begin very soon.

From what we can tell, it definitely looks like it’s going to be full-steam-ahead for residential real estate in 2021. Sellers will see new record-high sale prices and buyers will take advantage of record-low interest rates.

As the quote by Will Rogers says, “Don’t wait to buy real estate, buy real estate and wait”. 

Cheers to 2021.

Doug Ford announced a “Stay at Home” order for the province of Ontario that came into effect at 12:01 a.m. on January 14th. Since the announcement, I’ve been getting a number of questions from clients about what this mean for real estate. The answer is — very little. Real estate will continue to be considered an ‘essential’ industry. Realtors are able to continue to safely provide services, with the exception of “open houses”, which were discontinued last year.

Now, more than ever though, it’s crucial to take advantage of the technology and cutting-edge virtual tools available. When marketing a home for sale, high quality photos, video, and a 3D tour are a must! In-person showings are still allowed through appointment. However, we strongly encourage buyers to have a good look through marketing materials before requesting a showing.

Sometimes going to view a house used to be a family affair. Buyers would bring along their whole extended family to all view the home they were considering purchasing. Now with the second wave of the pandemic underway, it’s requested that only the ‘decision makers’ be present at the appointment. Before an in-person showing takes place, buyers must submit COVID-19 screening paperwork. During the showing, everyone is required to sanitize hands, wear a face mask while inside, and limit touching to what is necessary.

The ‘offer table’ is digital as well. Deal paperwork is signed with electronic signatures and submitted by email. Offers are presented and reviewed virtually, and deposits are encouraged to be made by electronic wire transfers or direct deposit. After a deal is signed, lawyers continue the virtual process to close the deal.

It’s clear the switch to digital is here to stay. I do hope someday soon we can return to life without masks and hand sanitizer though. Until then, let’s all stay safe.