There are different years mentioned for Millennials. Some say Millennials are Born between 1980 to 1994, Others say 1982-2004. Millennials are currently between the ages of 25 and 39.
Knowledgeable first-time home buyers: Millennials are more informed when it comes to renovations, repairs and real estate process than other generations. Since they grew up during the development of the internet, they are very tech and research savvy. They're able to find ways to access important information such as listings, neighborhood reports, HGTV home renovation videos and other types of real estate information on their own.
In 2019, they will rely on real estate agents to share information that they can't find online such as neighbourhood developments, local market forecasts, local housing regulations and more.
In 2019, online presence will have a huge impact on a Millennial to hire an agent. Having quality testimonials, attractive social media profiles and online tools/resources are important factors that shape their decision-making in hiring an agent.
Buying preferences: In many instances, Millennials and Boomers are competing for the same home. Some similarities between the groups include a walkable and engaging neighbourhood as well as a smaller home with upgraded amenities.
In 2019, they will account for most of the first-time home buyer market as they gain more purchasing power, acquire higher paying jobs and get married.
The Graff Girls Say Definitely worth it! We had a pre-home inspection on a home we just sold. The buyer read the report but decided to have their own inspection done.
Their agent called to say thank you for having a pre-home inspection as there were no surprises and her clients firmed up the deal without any hesitation!
SO, SAY YES TO HOME INSPECTION! The home inspection familiarizes the buyer with the mechanics of the home and what to be aware of in future years. For a seller, a pre-home inspection informs them of anything that may need to be fixed prior to putting the house on the market to avoid a buyer asking for rebates after negotiating a deal!
We are in the “make it happen” business. That’s what clients hire us to do.
When clients need to sell their home quickly, and for the best price, we make it happen.
When clients need to find and buy their next dream home, we make it happen.
When a client wants the entire process to go smoothly and successfully, we make it happen.
How do we make it happen? When we begin working with a client, we ask a lot of questions. It’s important for us to clearly understand what a client really wants. Then, we use our professional skills, training, knowledge, and experience to make it happen!
So, if you’re looking for a “make it happen” REALTOR®, give The Graff Girls a call.
The Graff Girls work with all buyers and recognize what they are about.
Connecting with Millennials does not always come easy to other generations, and it doesn’t help that there are a lot of contradictory opinions and generalizations popping up daily. Millennials are described as both fickle and brand loyal, having short attention spans and laser focus. We’re told in one article that their buying decisions are most influenced by social media and in the next, that they base their buying decisions on peer advice. We’re also told that Millennials aren’t financially stable enough to purchase homes and yet every stat proves otherwise.
In addition to the seemingly contrary information, Millennials have grown accustomed to distancing themselves from traditional processes and channels, and instead, attempt to go it alone.
The Graff Girls have found when working with Millennials we establish a relationship of trust and guidance that makes for a strong bond and a successful turn of events.
Have you ever worked with someone — a lawyer, an accountant, a contractor — who dropped the ball when it came to communication? Perhaps they failed to return your phone calls promptly or didn’t get back to you when you had a problem or concern.
We can only imagine how frustrating that must be.
In fact, you worry about that very thing when it comes time to select a REALTOR®. So, let us tell you how The Graff Girls work:
We return calls and emails promptly.
We get back to our clients quickly when they have a problem or concern.
We explain everything clearly and answer questions fully.
We keep our clients in-the-loop, so they always know what’s happening.
Our clients are Our priority.
By communicating effectively, we are able to ensure our clients have a better buying or selling experience. That’s important to us.
So, in the spirit of good communication… call or email us, if you have any questions. We will get back to you right away.
The Graff Girls Look At Different Buyers and Their Wants and Needs:
Generation Xers are born between 1965 and 1979, Generation Xers are currently between the ages of 40 and 54
A.Tech-savvy upsizing: Gen Xers are ready to upsize and they are using the internet to research and communicate with others to do so. Though not as tech-savvy as their Millennial counterparts, they spend about 2hours per day on social media looking for the latest news and keeping in touch with friends. Plus, they are more likely to use mobile than a PC/laptop when searching for a product to buy online (59% mobile vs 54% PC/laptop)
·According to an article from MediaPost.com, “Email is the primary means of messaging but they also like direct mail still…They like Facebook and YouTube, accounting for more than 1.5 billion YouTube views per day."
B.Upsizing preferences: Gen Xers are looking to sell their first home and upsize to accommodate their growing family. Their main focus in 2019 will be to find affordable housing in a family neighbourhood where there are high paying job opportunities so they can grow their families, have education opportunities for their children and save money for the future.
Whatever your age is The Graff Girls understand and respect your needs and wants.
There are many questions homeowners ask themselves during the selling process. "How much will my home sell for?" "How much should I list my home for?" "Who should I select as a real estate agent to sell my home?" "What if the Real Estate Agent over prices my home?" But it is in January and February, The Graff Girls receive the following question the most "Is this a good time to be selling a home?"
There are pros and cons when making a decision in all things in life and choosing when to sell a home is no different. There are many factors that need to be taken into consideration before deciding when to sell a home. Many homeowners believe selling a home during the fall or winter months is not a good idea and that the spring is the only time a house should be sold. The Graff Girls have found this to not be true year after year. Certainly, the Toronto real estate market experiences a "spring market rush" every year. There is no doubt that the "spring market" is a great time to be selling and buying real estate, however, the fall and winter seasons may be the best fit for you for many reasons.
The following are reasons why choosing to sell your home now may be a better decision than waiting until the spring:
One way that you can tell the spring real estate market has arrived is by driving down a street in your local community. In all likelihood there will be For Sale signs up all over the neighborhood! One great reason to sell your home now and not wait until the spring market is there is sure to be less competition. The fewer number of comparable homes for sale, the greater the probability that a buyer will look at your home.
Serious Buyers Are Out There
Homes are sold and bought 365 days a year, period! Many homeowners believe that buyers aren't out there during the fall and winter months. This simply is not the case. Serious buyers are always out there! Some buyers may stop their home search because it is the fall or winter, but serious buyers will continue to look at homes, no matter what time of year it is.
The Best Agents Are Always Up To The Challenge Any real estate agent who tells you that the fall or winter months are a bad time to sell is not someone you want selling your home! A great real estate agent will know how to adapt to the current season and market their listings to reflect that. A great real estate agent can make suggestions and give some of their tips on how to sell during the fall or winter seasons. If a real estate agent doesn't have any suggestions on making your home more desirable for the current season, you should be concerned about the creativity they are going to use when marketing your home.
Right now, there are fewer real estate transactions than there will be in the spring. The fewer number of transactions means the mortgage lenders have less loans to process, attorneys have less closings to do, and home inspectors have fewer inspections to do. All these factors should lead to a quicker transaction and closing for all the parties involved. One of the most frustrating things for a seller to deal with while selling their home is not getting answers in a reasonable amount of time. A quicker transaction is going to be less stress for you.
By considering all the reasons above, you will be able to determine whether now is a good time to sell or if you should wait until the spring.
According to CTV news, the average price of houses was dropped by 2.1% in 2018. In 2017, the average price was $509,835 where as in 2018 it was $499,100. In the Country’s largest market, that is Greater Toronto Area, the decline was about 4% falling from $822,961 in 2017 to $787,000 in 2018.
Canada Mortgage and Housing Corporation (CMHC) expects the normal Canadian housing prices in 2019 to be under $525,000. Be that as it may, the regional sales and price forecasts contrast significantly. Urban housing markets in Ontario are relied upon to recoup from the "dampened activity in 2018" due to anticipation of strong job growth and immigration.
For potential home buyers especially young families, who are new in the market. Even after this fall in prices they still are not able to afford houses worth more than a million dollars. So, what is the option for them? They have two options, one is to move outside of GTA, or the second option is to live in a Condo Townhouse. Townhouses are the next best thing for the people who are unable to afford million-dollar homes. It is like a house but condominium ownership.
Few things to notice in 2019 are rising mortgage rates, more stringent lending requirements, and of course continued high home prices.
The Graff Girls will keep you informed of the market outlook each month.