Articles for Sellers

Eric Skicki

Sold My Condo – What’s Next?

Written by Eric Skicki Tuesday, August 4th, 2015
  • sold condo

    Mississauga condos continue to be a great option for first-time home buyers, investors, couples or people who choose to live alone. With prices still below $500 a square foot in the downtown area, the market continues to favour buyers with prices increasing moderately year over year. 

    For anyone looking to sell a condo, the market dictates that on average condos in the City Centre (downtown Mississauga) area sell for 97% of asking price and within 39 days (Toronto Real Estate Board Stats for 1st quarter of 2015).  

    An interesting trend has emerged where those who sell their Mississauga condo move further out west; primary Oakville, Burlington or Milton. These three cities are not known for their high-rise condos, but rather seen as “great places to raise a family”.

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    • This entry was posted on Tuesday, August 4th, 2015 and is filed under ALL Articles, Articles for Sellers.

    Eric Skicki

    3 Truths Every Condo Seller Must Know

    Written by Eric Skicki Friday, November 14th, 2014
    • condo-sellers

       Your Condo Is Not THAT Special

      Most sellers insist that their condo is special and deserves a higher list price than other comparable properties. Sometimes this justification of a higher price is made because of upgrades, other times it’s because the seller is misinformed or just unrealistic.

      We have to keep in mind that some upgrades are not to everyone’s taste; such as floor colors or cabinet colors. Remember that 90% of condos sell within 2% of asking price and therefore, it is important to price your condo right the first time you put it on the market. Overpriced listings quickly become stale listings and buyers lose interest quickly.

      Pro tip: Typically speaking, when selling a unit, an owner can expect to recover only 40%-60% of the value of any given upgrade.

       

      Sellable vs. Livable

      Many properties that are on the market are either owner occupied or vacant, and it is hard to keep it in a very clean condition. However, some things are a bare minimum requirement when choosing to place your condo for sale.

      – Depersonalize your property by putting away personal items in boxes or drawers, since the

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      • This entry was posted on Friday, November 14th, 2014 and is filed under ALL Articles, Articles for Sellers.

      Eric Skicki

      Get A Free RENO & Be Featured On TV!

      Written by Eric Skicki Tuesday, April 8th, 2014
      • property brothers HGTV

        At one point, we have all seen a real estate show on TV. Whether it was Love It Or List It, Property Virgins, or The Property Brothers. Some of us have wondered what it would feel like to have our home featured on a show. How we would like our home to be renovated or remodeled, and what it would look like after. Then we thought about the show and how much our home would be worth after a reno job was complete.

        The shows spark our imaginations and they let us look at our homes, and sometimes we start noticing what we would like to have changed about our home. Then we contemplate; well, maybe it is time to sell this place and get something else. If this is the case, then we have some great news for you. We have been asked by the producers of the Property Brothers: Buy and Sell, to feature some of our clients on the Tv show. The show airs on the W Network and HGTV. Our sellers: both house and condo sellers, interested in this must know the following:

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        • This entry was posted on Tuesday, April 8th, 2014 and is filed under ALL Articles, Articles for Sellers.

        Eric Skicki

        Selecting The RIGHT Listing Agent To Sell Your Mississauga Condo

        Written by Eric Skicki Sunday, March 3rd, 2013
        • hiring a realtor

          The time has come for you to sell your Mississauga condo. You have an option to sell it by yourself, often referred to as “for sale by owner” AKA “FSBO”, or you can hire a Realtor for the job. Since over 95% of condos in Mississauga are sold through agents, most people decide to list their homes for sale with a real estate brokerage.  That said, there are over 35,000 licensed Realtors on TREB (Toronto Real Estate Board) and thus, choosing the RIGHT real estate agent for the job can prove to be a challenge for some. In this blog post, I want to help those looking to sell their property, by providing some insight on selecting the right listing agent.

          Who To Work With

          When asked – “How does one find a good real estate agent to sell a house?”  Most commonly the answers given, are to find an agent who 1) works in the area, 2) is very active 3) does lots of open houses and 4) is advertising.

           

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          • This entry was posted on Sunday, March 3rd, 2013 and is filed under ALL Articles, Articles for Sellers.

          Eric Skicki

          Downsizing: Selling Your Home And Buying A Mississauga Condo

          Written by Eric Skicki Wednesday, September 5th, 2012
          • featuredinselling your house and buying a condo

            The kids have moved out, there are way too many bedrooms in the house and it’s just the two of you and maybe the family pet. The Husband is getting tired of mowing the lawn, doing the plumbing and fixing the roof, whereas the wife keeps complaining about having to clean a big house on her own and she’s getting tired of having to carry the groceries through the long hallway and passing three rooms before she gets to put them down on the countertop.

            It’s time for a nice relaxing vacation, yet there is so much to think about before you leave. You have to go to your friend’s house and give him/her the keys, and maybe even leave the family pet there because you can’t possibly leave a pet and a house for a week or two on its own. Some concerns that come with owing a house are; What if the wind blows over all of your flower pots in the backyard, or it rains onto your garden furniture? Somebody needs to come by, pick up the mail for you, water the plants and make sure that you haven’t left the patio door open for someone to come in. The house is too big, the vacation takes more preparation than it really should, and you’re just sick and tired of it all.

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            • This entry was posted on Wednesday, September 5th, 2012 and is filed under ALL Articles, Articles for Sellers.

            Eric Skicki

            FSBOs, Private Listings and Mississauga Condos

            Written by Eric Skicki Monday, June 11th, 2012
            • featuredinPrivate sale mississauga condo

              Are you planning on selling your Mississauga condo yourself within the next 3 months? Do you have a condo listed privately and you are not getting the results you anticipated? Are you a potential condo buyer looking into private condos, because you are hoping to save some money? If so, this article is for you!

              Selling Your Condo Privately

              I have a lot of respect and admiration for those that are taking on the complex task of selling their home by themselves. These sellers, often referred to as FSBO’s (For sale by owner), choose not to work with a listing agent for perhaps several reasons, but mainly because they want to escape paying high commission fees. Traditionally speaking, most sellers who work with a Realtor in Mississauga can expect to pay anywhere from 1% to 3% to the listing agent and 2.5% to the buyer’s agent (known as the co-operating brokerage). This percentage is common practice rather than a fixed number.

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              • This entry was posted on Monday, June 11th, 2012 and is filed under ALL Articles, Articles for Buyers, Articles for Sellers.

              Eric Skicki

              9 Real Estate Mistakes for Mississauga Condos

              Written by Eric Skicki Sunday, April 15th, 2012

              • Here are some common mistakes both buyers and sellers make, when purchasing and selling condos around Square One.

                1. Buying a Condo Based On Its Interior/Décor – When you are purchasing a Mississauga condo, you are not buying what is inside the unit but the unit itself. You need to look past the furniture, wall colours and décor and focus on square footage, as well as measuring the unit to make sure that your possessions fit how you envision your unit to look like at the end.

                2. Waiting Until Spring To Sell Your Condo – Sure, spring is a very busy season in real estate, however, your condo will sell for its value the rest of the 365 days. It is simply a myth that it will sell quicker in the spring time. People purchase all year round. Just ask yourself – Do people move to Mississauga in the winter? Of course.

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                • This entry was posted on Sunday, April 15th, 2012 and is filed under ALL Articles, Articles for Buyers, Articles for Sellers, First Time Home Buyer.

                Eric Skicki

                Mississauga Condo Status Certificates

                Written by Eric Skicki Saturday, February 25th, 2012
                • What is a Status Certificate?

                  A condominium status certificate is a detailed report about the status of a Mississauga condominium. It outlines valuable information including but not limited to; the amount of money in the condo reserve fund, whether or not any major work needs to be done on the condominium, any claims or law suits made against the condominium, any special assessments made against the unit owners, the condo budget, insurance information, number of units leased and more.

                  Also included within the documentation is the exact cost of monthly condo maintenance fees as well as any outstanding payments.

                  The status certificate not only includes the above financial statements but also the condo declaration and condo bylaws. The declaration outlines all of the rules and regulations of the condo. For example the pet provision which states whether or not pets are allowed in the building.

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                  • This entry was posted on Saturday, February 25th, 2012 and is filed under ALL Articles, Articles for Buyers, Articles for Sellers.

                  Eric Skicki

                  Will the Mississauga Condo Real Estate Market Crash?

                  Written by Eric Skicki Tuesday, February 14th, 2012
                  • It’s all over the news! As we say goodbye to 2011 and enter a new year, we once again hear the debates about the Canadian real estate market. The news are speculating that 2012, with too many building constructions going on within the GTA and putting the buyer in the driver seat, the market will go soft; stating that there are too many condos and not enough people buying (CTV news- CEOs sound alarm over Toronto, Vancouver condo markets ). Other sources such as CMHC, predict stable market conditions with the national average of a house hovering around the $368,900 benchmark.

                    Despite all this, as I stated in my previous article, there is no shortage of buyers for Square One condos. Properties are disappearing fast from the market and are being sold to distant buyers. Just last week alone, two of my buyers where both in a multiple offer situation and both were forced to pay over the asking price for the unit they wanted. I discussed this phenomenon with my colleagues and they shared similar encounters. Seeing multiple offers in the first 2 months of the year is uncommon, as it’s generally seen as the slow real estate season.

                    Mississauga’s condo market is still a baby compared to other places like Toronto and Vancouver. Over the next 15 years there will be over 20 new condominiums constructed. The question that is often raised is whether or not there will be an oversupply of condos in the market which can in turn perpetuate a real estate crash.

                     

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                    • This entry was posted on Tuesday, February 14th, 2012 and is filed under ALL Articles, Articles for Buyers, Articles for Sellers, Investment, Market Statistics.

                    Eric Skicki

                    9 Tips for Selling your Mississauga Condo

                    Written by Eric Skicki Monday, February 6th, 2012
                    • featuredinselling tips
                      1 . Establish the Correct Listing Price Establishing the right price for your property is the most vital thing when selling your Mississauga condo. If your listing price is to high, the property may stay too long on MLS and not get sold. If it’s too low, you don’t receive your fair market value. Also, if the price is too low, buyers might walk away, believing that there is something wrong with the property.

                      2 . Correct Listing Information Your listing agent should make sure that everything is filled out correctly. This includes professional pictures, correct square footage and an accurate description.

                      3 . Allow the Lockbox and Easy Access– Access via lockbox is certainly the industry standard. The code to your lockbox is only released by our office to real estate agents in order to minimize any risk to you. Prospective buyers don’t have direct access to your home and are always accompanied by their representative agent. It is also important to make your home accessible during afternoon and evening times, not just certain hours of the day. You do not want to make it too difficult for prospective buyers to make an appointment to see your home. This will allow for more showings and your home will disappear much faster from the market.

                       

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                      • This entry was posted on Monday, February 6th, 2012 and is filed under ALL Articles, Articles for Sellers.