Today's Most Desirable Home Features

Canada Realty Newsletter May 2010-

Housing trends and styles are changing constantly. Today, more than ever, buyers have a strong sense of what they want in a home.
Today’s desirable home features depend greatly on the type of buyer. Buyers can be divided into two main groups. The first group are first-time buyers which is pretty self-explanatory. The second group are the move up buyers, which are looking to move into a home that addresses the shortcomings of their existing home. They aren't necessarily second-time buyers but they are often people that have out grown their current home. Buyer age is also a main factor in deciding the desired home features.
This article focuses on what is hot in the housing market today. Whether you are planning on renovating, selling, or you are looking for a new home, this information will help you make choices that will contribute to both your real estate enjoyment and investment.
Home Exterior Today, stone and stucco are very popular choices. Brick is the standard material used with mass builders, but the more customized and trendy home builders are using stone and stucco on a more frequent basis.
Floor Layout Bungalows are hot nowadays. Excessive floor level changes are no longer popular as people desire to live on one or two levels.
Room Sizes Room sizes have been gradually increasing for a number of years. Buyers tend to place the most importance on three key rooms: the kitchen, family room and master bedroom. You can expect to see these three rooms continue to increase in size over the next 10 years while rooms such as the living and dining room are likely to get smaller or disappear altogether. Many new homes scrap the living room and instead incorporate that space into the family room or the 'Great' room.
Buyers still, ideally, desire four bedrooms in their home and would like, if possible, two living areas. One of the living areas can be the recreation room in the lower level (basement).
A master bedroom on the main floor is ranked very important for buyers 65 and older. A two-car garage with ample storage area and a main floor laundry area is desirable for move-up buyers.
Kitchen and Bathrooms The kitchen is becoming the hub of the house. The most desired features for the kitchen include: an abundance of counter space, a butler’s pantry, deep drawers and two sinks. Stainless steel appliances are also very popular today, and in the upper end market, appliances concealed as cabinetry are very chic.
Large kitchens with an island and counter tops made of granite or marble are very desirable for move up buyers. However, this must be matched with stylish kitchen cabinets.
Luxurious bathrooms with a separate tub and multiple shower heads; pedestal sinks and large mirrors; an overall spa like feeling; attached dressing rooms and a place to sit are all desirable features. Master suite soaker tubs and whirlpools are still desirable for many home buyers, but not as important as other features.
Energy Efficiency With the green movement becoming more popular, energy efficient appliances, high-efficiency insulation, eco-friendly treatments, and environmentally smart building plans are among the "green" features touted in homes.
Tech-readiness Satellite and internet wired along with multiple phone jacks are what people want in today’s technology world. With today’s busy lifestyles relaying heavily on technology, even a day or two without high speed internet could be a major inconvenience.
Home Office Today, many people would much rather have home office space than a formal dining room. Many employers are seeing the business advantages of allowing employees to work from home. As well, many people are using work from home opportunities to help supplement income because of work shortage or as an opportunity to make money online.
Outdoor Living Space The popularity of outdoor spaces continues to grow. Patios, deck, exterior lights, fenced yard and fire pit extend the outdoor living space at home and make a great extra feature.
Other Notables Some other notable features that home buyers consider very important when buying a home include central air conditioning, recessed lighting, hardwood flooring, energy efficiency and the potential to turn a profit should they decide to sell their home in the near future.
Today’s buyers are looking for a little luxury and features and treatments that are the highest quality their price range will permit.

GTA REALTORS Report Mid-Month Resale Housing Figures

TORONTO, May 19, 2010 - Greater Toronto REALTORS reported 4,887 sales through the Multiple Listing Service (MLS) during the first two weeks of May.
This represented a 7% increase compared to the 4,561 sales recorded during the same period in 2009. New listings increased by 48% annually to 10,059.
"The average household looking to purchase a home continued to benefit from affordable opportunities in the first half of May," said TREB President Tom Lebour.
"The number of done deals will remain high for the remainder of 2010, but will dip from record levels".
The average price for May mid-month transactions was $448,641 - up 12 % compared to the average of $399,811 recorded during the first 14 days of May 2009.
"The total number of homes currently listed in the GTA is now within a more normal range. As buyers benefit from more choice in the second half of 2010, average selling prices will grow at a slower pace," said Jason Mercer, TREB's Senior Manager of Market Analysis.

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TREB MLS New Listings - April 2010

TREB MLS SALES - April 2010

GTA REALTORS® Report Monthly Resale Housing Figures

May 5, 2010 --Greater Toronto REALTORS® reported 10,898 sales through the Multiple Listing Service® (MLS®) in April, representing a 34 per cent increase compared to April 2009. There were also 20,683 new listings in April - a 59 % annual increase. Both the sales and new listings results amounted to new records for the month of April under the current Toronto Real Estate Board(TREB) boundaries.
"The GTA resale market is functioning properly. Sales were high as buyers continued to take advantage of affordable home ownership opportunities. Listings grew as home owners reacted to strong sales and price growth," said TREB President Tom Lebour. "More balanced market conditions will result in sustainable rates of annual price growth in the second half of 2010.
The average price for April transactions was $437,600 - up 13 % compared to the average of $385,641 recorded in April 2009.
"Home sales will continue to be driven by many different segments of the market, with sales growth for all major home types in both the City of Toronto and surrounding 905 regions," said Jason Mercer, TREB's Senior Manager of Market Analysis. Home sales will remain strong in the second half of 2010, but will slip from current record pace as borrowing costs rise."