Cliff Barron here with my market update for June 13th-19th, 2021, for Milton, Georgetown and Glen Williams. 

Before I get there, I mentioned last week that I was going to talk about rent to own for air conditioning and furnace. Is it a good idea?  Is it an option? It's always an option, but not always a good idea. I'll put it bluntly -it's NOT a good idea.  This actually happened to me: my furnace went out December 23rd, which was a really nice thing to happen just before Christmas. So, your furnace goes, and you have no money because you spent it all on Christmas. What do you do? You can't live without heat.  So, you fall for one of those, rent-to-own kind of things because they come with a great warranty. And I only have to pay a certain small amount of money per month, (I think around $150 a month) and then I'm going to pay off this AC and furnace over the next 10 years - but it comes with a warranty!  So, the thing is when a buyer buys your place they have to assume that payment - and they never, ever, ever want it. They want to move into a house where it's free of all encumbrances and liens and rental items. A hot water tank is kind of standard, but when it comes to the furnace and air conditioning, people just do not want it. And the other problem is when you go to buy it out, they inflate the heck out of the price, too. So, furnace and air conditioning you can buy for $6000-$7000 for the combination. But when you go to buy it out (because you want to sell your house) the buyout is about $8,000 -which is way more than you would have bought them new previously!  And you're buying a seven year old set of appliances!  So, it's not a good idea if you can avoid it.  

Here's my recommendation:  I know it's always tight. Like when the furnace goes, you're always in a rush to get it done because half the time it goes in the middle of winter when it's minus 20 outside. But if you can think ahead, you have the option of a line of credit with your bank (if you can) if it's possible. And then because of the interest rate they're going to charge you way, way less than the financing fees, the AC and furnace company is going to charge. So don't go for it. If you can avoid it, avoid it at all costs because when you go to sell, that's when you're going to figure out the hard way that you got kind of taken. 

So, getting to the sales for Milton, Georgetown and Glen Williams.  Sales are still good. The market has kind of slowed a little bit. It's kind of like a July market right now. A typical July market where the showings are a lot slower - nowhere near as many offers. You know, the days of 20, 30 offers are starting to go. Now, you'll see 1, 2, 3 offers. Sometimes you won't see any offers. 

So anyway, getting to Milton.  The detached homes in newer Milton, 19 sales, $1.347M on average.  The price is still up there.  Old detached - 4 of them at $1.028M, 4 semis at $870k and 18 townhouses over $856k. So that's interesting - the semis and the towns are getting close in price. 

Then you get to Georgetown and Glen Williams. There's a couple of big ones that sold in Glen Williams, so that always skews the price up a little bit. 12 detached sold for $1.375M, which is a very high average. Nice properties off Eaton Street - they are some really nice properties -1 semi sold for $1.09M, just over a million. That's interesting - because that has never happened before. And then 3 townhouses sold for $759k. Georgetown is still doing well. It's funny - it's busier than Milton - I can tell you that right now.  In Milton, it's because there are so many homes to choose from. Whereas in Georgetown, there's not as many listings. There are still a lot of people wanting to go to Georgetown. So, the demand is there. It's not as busy as it was, but there's still a lot of demand and things are doing well. 

Cliff Barron from RE/MAX.  Any questions, send me a DM, PM, email, text, phone call, homing pigeon whatever you want and I'll help you out. Thanks and take care!