When it comes to buying and selling real estate, agents as well as buyers and sellers must always keep in mind that successful business depends as much on perception as anything else. The point of a real estate transaction is the sale, and at the heart of any sale lays the presentation. With this in mind, it is important to analyze any factors, which may have an impact on the presentation itself. When it comes to the sale of a piece of real estate, the range of factors is fairly large, running from areas which can be controlled such as the appearance of the interior of the home, to factors well beyond the control of agents, sellers or buyers. In this article, we will take a look at one of the biggest uncontrollable factors, the weather.
Seasonal real estate One of the guiding maxims of real estate is that agents must work double time in the summer months in order ensure survival in the wintertime. Like many other industries, real estate tends to slow down in the winter, in large part due to weather. Here are some of the reasons why: It's more difficult to present the home in peak condition. First impressions are incredibly important when someone is looking to buy real estate, and it can be very hard to envision what a home would truly look like in the depths of winter (and it can be even worse during February and March, when the snow begins to melt and everything starts looking dirty).
It's harder to keep the interior clean, and any decorative touches accomplished by greenery are totally negated. This is a particular problem with single-family dwellings. Toronto is unique in that condominiums have just as much popularity; in fact condo dwellings don't suffer as greatly in terms of sales from season to season. People just don't like to go out! If you have ever been in Toronto during an infamous cold snap, you know that the basic goal of most people is to stay inside. This means that less people are available or willing to go out and look at houses. Fewer lookers mean fewer buyers, every time! Winter isn't the only weather condition that may put a damper on sales, but taken as a whole weather conditions during this season will be constant and that means a decline in sales.
Speaking on individual days, a sale may be affected due to excessively hot weather, or a very rainy day. The best times for real estate trends will probably always be the "shoulder" seasons of the year; as spring turns to summer and as summer turns to fall. Not only are more people willing to buy, but also the weather won't deter them from doing so either in terms of presentation or availability.
550 Wellington West is situated in the developing Queen Street East and Bathurst area -- and is expected to be a landmark of cutting-edge design. It is the work of Peter Clewes of Architects Alliance Inc., while the interiors are by Cecconi Simone Inc. of Toronto and Barcelona-based Estudio Mariscal.