Nicole Gay, Real Estate Broker

Nicole Gay, Real Estate Broker I help clients build wealth through real estate using my proven system. I would love to help get you from where you are to where you want to be! Brokerage

REAL Broker Ontario Ltd.

There’s a shift, but the sky isn’t falling😆.🔹What’s happening?Last month, we saw our 1st indication that there is change...
05/05/2022

There’s a shift, but the sky isn’t falling😆.

🔹What’s happening?

Last month, we saw our 1st indication that there is change in the trends we have been all too familiar with the past 2 years: record-breaking prices, tons of sales, & crazy competition.

👉The April numbers are in and it’s factually confirmed: there is a shift. There is an overall slow down in the # of sales from both last month & last year. We also saw the average home price take a dip this month; but it’s all relative🧐.

The BOC announced a rate hike that serves as a small catalyst that has shifted our April numbers. In April, we saw just over 8K sales, which was a huge drop compared to April 2021 (41.2%!) and 27% less than March of this year⬇️.

Interestingly, the decline in the # of sales was greatest in the “905” area codes; an area that saw pressurized growth during Covid peaks as people left the city and sought out more space.

🏡The average price is now $1,254,436 which is down about $45K from last month, but still up 15% year over year.

Seller’s still have the upper hand, with the number of new listings down by 11.7% year over year, and properties selling for 112% of the asking price on average.

🔹Why should I care?

What does this tell us? The COVID related boom in the real estate market is moving on to the ember stage. The BOC has goals to fight inflation and overspending in the real estate space is a primary target. Experts are predicting more rate changes this year📈.

😅You’re probably sick of us saying this, but supply hasn’t changed. Price growth will continue to trend up, & although we can’t predict the future, this slow down just shows us that we can breathe a little when buying and selling. The overall trends show a strong & growing market, and when compared historically over longer periods, the acceleration of growth will be slower, but is still expected.

Real estate can be very reactionary. Media plays into the shift narrative which will create a window for buyers to seek a great opportunity right now that we haven’t seen in prior months🗞️.

Sellers, who you work with matters: a sign on the lawn is simply not enough, & you need an agent who can adapt. 👋

04/19/2022

Condo Maintenance Fees! Let’s chat about them.

There are a lot of factors that go into determining the maintenance fee amount.

Maintenance fees are your proportionate share to help run the building.

Luxury buildings have great amenities and have higher costs to operate and maintain so they usually have a higher fee than a more basic building.

Utilities are another big factor. Some buildings are all-inclusive and the heat, hydro, water and even cable tv can be included which comes with a higher fee, whereas some buildings have a lower fee but those utilities are separately metered, and your responsibility.

Older building usually have high fees as they require more upkeep.

Questions? Ask away!

04/07/2022

Dare we say the market is shifting?! 🤯

🔹WHAT'S HAPPENING
👉Based on March's market stats & what we are seeing today, we can say “yes!”, there is a small shift, & experts are predicting this may set the tone for the rest of the year.🤞🏻

Now, let’s start with an important fact: when we are talking about a shift, this doesn’t mean anything drastic by way of the GTA being a strong Seller’s market. What it does mean is that Buyers have a small level of relief as price growth is moderating & the pace of new listings vs. sales is increasing.📈

This shift comes after over a year of record-breaking , so the stats still show a very active, competitive market that we have grown accustomed to. The average selling price is at 1.3 million dollars and the price growth year over year is still in double digits. Listings are now selling 16.7% faster than in 2021, in about 8 days. Further, for sales, we just experienced the 2nd best first quarter on record.🏆

🚨Now, here’s where we see change:

-There was a 30% decline in sales this March compared to this month last year
-Price growth has dipped from last month (while still up year over year)
-The condo market is getting stronger, with this segment seeing the smallest dip.

The average selling price of all home types dropped by $34K from Feb’s report. And fewer sales means that we are trending (gently) towards a more balanced market.

🔹WHY SHOULD I CARE?
This is the 1st movement we have seen that indicates there is any level of a slow down in both price & sales. Competition is not AS tight as it was and we have some breathing room in price & opportunities to buy. There’s been a slight shift, & it’s very possible that the price growth could be more moderate for the rest of the year🙌.

👆One thing is unchanging: supply is the ⭐of this real estate show, and it’s scarce. We will continue to see a Seller’s market & competition, just not at the level we saw last year.

With rate changes predicted, & gov't policies putting a serious emphasis on the housing affordability crisis, it can be hard to dissect what this market means for you as a Buyer or Seller. That’s where we can help - let’s build a plan together!👋

04/05/2022

Not all showings go as expected.

If you show enough homes you are bound to run into an odd encounter or two, or ten.

This is the story of one of those times.

03/31/2022

What’s better? Selling before buying, or buying before selling 🤔

It depends!

Ultimately each client is unique and your personal circumstances may dictate which option is better.

We also factor in the market of course. In a strong sellers market you may be more likely to buy first, when inventory is low, and secure a purchase.

In a shifting market it may make more sense to sell first to know what your purchasing power is and eliminate the risk of buying at the height of the market and then selling after a shift.

Ultimately there is no “right” answer and the it’s often helpful to chat through your particular circumstances and risk tolerance to chart the best path ahead!

If you are considering a move, reach out! Let’s chat about what makes the most sense for you and your family.

🚨 There’s a big difference between selling a house, and selling a house for the most amount of money, in the shortest am...
03/29/2022

🚨 There’s a big difference between selling a house, and selling a house for the most amount of money, in the shortest amount of time, with the least amount of hassle to the Seller.

In any market, demand is essential.

However, not all demand is created equal.

When I am representing my Seller clients my goal is to create a ton of 𝐪𝐮𝐚𝐥𝐢𝐟𝐢𝐞𝐝 demand.

We do this through various online and offline strategies, and don’t rely solely on a low list price and a sign on the lawn. In fact, we have an entire marketing and inside sales team that generates buzz around your property and qualifies interested buyers, which ultimately creates, you guessed it, even more demand.

Interested in seeing how we do it differently? Send me a message!

03/25/2022

How much can you expect to pay when buying a resale home?

Down payment - your down payment plus your mortgage will add up to the purchase price of the home.

Legal fees - this is the fee you pay your lawyer for their services.

Land transfer tax - paid to the government on closing *note there is a first time home buyer rebate if you qualify*

Home inspection fees - I always recommend you get an inspection!!

Mortgage insurance - applicable if you are putting less than 20% down.

Title insurance - Paid at closing and the amount varies depending on what you are purchasing.

Questions? Ask away!

[email protected]
416-948-9914
www.nicolegay.ca

03/21/2022

Use these tips if you aren’t looking to spend a fortune but want to update your home

1. Paint! A fresh coat of paint can make a huge difference. It spruces up the space without major amounts of work. In fact, it was one of the first things I did to my own home when I moved in and if felt like an instant upgrade


2. Upgrade your hardware. Dated doorknobs, cabinet handles, and faucets can instantly date the space. This simple upgrade will make a huge difference, just remember to keep it consistent throughout the house and remember functionality before you install that unique but impractical item.


3. Landscaping. As we head into spring, it is a great time to start planning what you will do to the exterior of your home to dress it up. A nice, welcoming outdoor space (both front and back yards) is a great way to increase your homes value, while also getting to enjoy this .


What do you plan on doing to your home this year? Comment below!

03/18/2022

Down Payments! Let’s go through how the minimum down payment is calculated.

It is calculated as a percentage of the purchase price.

It is on a scale for homes below $1,000,000.

$500k or below means you need a minimum of 5%.

Purchases above $500k and below $1MM are 5% on the first $500k and 10% on the portion above.

As soon as the purchase price is $1MM or above, it is 20% minimum on the total.

Questions? Ask away!

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Allow me to reintroduce myself!Hey! My name is Nicole Gay and chances are that we have already met, but if not I want to...
03/17/2022

Allow me to reintroduce myself!

Hey! My name is Nicole Gay and chances are that we have already met, but if not I want to take this opportunity to let you know a bit about me.

I help young professionals in the GTA build wealth through real estate. It is something I am extremely passionate about and find great amounts of joy helping my clients hit their real estate goals.

Let’s face it, if you aren’t selling or buying properties often, the process can seem overwhelming.

I am here to ensure you get from where you are to where you want to be in the most convenient, fastest, and least stressful way possible. So, let me do the heavy lifting.

You can rely on my experience to guide you in this next milestone.

My goal for this page is to share tips, spread knowledge about what is happening in the market, and share a bit more about who I am in this crazy thing we call life!

📸

: Scoop up the ideal suite in Carleton Village 👌🏻1 Bed & 1 Bath | Large Balcony | Large Fitness Centre🛌The SuiteSittin...
03/15/2022

: Scoop up the ideal suite in Carleton Village
👌🏻

1 Bed & 1 Bath | Large Balcony | Large Fitness Centre

🛌The Suite

Sitting in a sought-after new six-storey development, this spacious one bedroom condo offers a great opportunity for first-time buyers and investors to join a trendy west-end neighbourhood on the rise! Scoop up the ideal suite in Carleton Village; a stylish north-facing unit overlooking hip St. Clair Avenue West with modern finishes and an open-concept layout. The kitchen features a convenient breakfast bar, making great use of space, while the unit also includes a large balcony for outdoor entertaining or relaxing.

📚Amenities

Enjoy brand new amenities at SCOOP Condos, where residents can take advantage of a large fitness centre, a handy pet-wash area plus a community room with a library area just off of the building’s beautiful shared backyard patio. Meeting and dining rooms plus a party lounge offer even more space for entertaining guests, who also receive free visitor parking.

📍Location & Lifestyle

SCOOP Condos stands on St. Clair Avenue West in historic Carleton Village, the site of the area’s first European settlement in the 1840s and one of Toronto’s up-and-coming neighbourhoods. A 72-unit building and the first to go up in the vibrant west-end, SCOOP is surrounded by great restaurants, coffee shops and other retail stores; extensive parks, trails and other greenspace; plus endless transit options—including a streetcar stop just outside your door plus the Bloor GO Station a few minutes south.

Message me for more details! 📲 [email protected]

Address

309 York Mills Road
Toronto, ON
M2P1E4

Telephone

+14162231818

Website

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