Blog Category Archives: Real Estate Market

I have had a wee bit of a stressful week and felt like putting out a light-hearted blog today. I hope you enjoy these fun facts.

Real Estate Facts

1. The median age of the average Realtor is 57.
2. The average age of a first-time buyer in Canada is 29. The average repeat buyer is 52.
3. The average cost of a home in Canada is just over $389,000.
4. The average cost of a home in the GTA is just over $523,000.
5. The two amenities that most convince couples to buy their first home are the master bathroom and the walk-in closet.
6. At the opposite end of the spectrum, having a swimming pool ranks as the least important amenity when deciding on a first home.
7. Only 48% of first time buyers are married couples.
8. 74% of unmarried renters living alone are at least somewhat willing to live with their significant other to save money.
9. Only one third of all home buyers are buying for the first time.
10. Unsurprisingly, the internet is now the main source for people to search for homes (92%) and real estate agents (88%).
11. On the flip side, only 17% of people now use home/real estate magazines to find the same information.
12. Buyers search a median of 12 weeks and visit 10 homes.
13. 57% said they would give up a home with a larger yard if it meant they could have a shorter commute.
14. TGIF! The best day of the week to list your house is Friday.

 Contact Me Today! 

When you’re ready to buy or sell in the Burlington or Oakville area, or for general real estate advice, please contact me and I can help!

Enjoy the rest of your week!

Source: http://www.realestate411.ca/15-fun-real-estate-facts-figures 

Did you know that most, if not all, neighbourhoods experience four distinct phases of a life cycle? Some may even go through the cycle more than once, depending on the age of the neighbourhood. Each phase will have an impact on property values as well as demographics. Do you know which of the following four phases your neighbourhood is in?

GROWTH PHASE

This is the phase in which a neighbourhood is first being developed. It is becoming popular and building construction is replacing much of the vacant land. New construction includes not only residential housing, but the development of amenities such as schools, plazas, parks, etc.

STABILITY PHASE

In this phase the neighbourhood has been completed and has reached the height of its popularity. Property values are at their highest in comparison to other similar neighbourhoods and a full range of amenities are in place.

DECLINING PHASE

In this phase a fully developed neighbourhood is losing its appeal and popularity. Properties tend to look less well maintained. Retailers and commercial businesses are either closing or moving away, leaving higher than usual vacancies. Property values tend to decline as compared to other similar neighbourhoods. This phase may be caused by the growth of other neighbourhoods or high unemployment rates.

RENEWAL PHASE

This is the phase in which a neighbourhood is bouncing back from a period of neglect or decline and which is becoming popular and in demand again. New construction, home renovations and the reappearance of retailers and commercial businesses are evident.

Knowing the phase a neighbourhood is in can make a big difference, especially when purchasing an investment property. For example, if the neighbourhood is in decline, the vacancy rate will probably be high which can translate into lower monthly rental income. If you have school-aged children and you live in an area of decline, your children’s school may close due to declining enrolment.

Contact Me Today to Learn More 

I can provide you with advice on when to buy or sell depending on your specific situation and circumstances and can explain the affect each phase could have on your finances and lifestyle.

When you’re ready to buy or sell in the Burlington or Oakville area, or for general real estate advice, please contact me.  I can help!

Can having bad neighbours affect the value of a property? In a word, “yes.” Bad neighbours can make life very difficult and unpleasant and can actually decrease the value of your property.

So just what is a bad neighbour? Some things to watch out for are: severely overgrown grass and gardens, incessant dog barking, windows covered in dark plastic or newspapers (could be a sign of a grow op), a steady flow of traffic in and out of any one particular home, cars parked on the front lawn, garbage in the backyard, loud parties, and finally, a property that looks vacant.

The good news is there are steps you can take to avoid living near a problem neighbour:

1. Knock on the neighbours’ door. Ask them what it’s like to live on the street and how long they have lived there. Ask whether they’ve had any problems with neighbours. My experience has been that people are usually very willing to share this information. An added bonus is you get to meet your potential neighbours before deciding to go ahead with an offer.  By the way, if you are shy about doing this, ask your real estate agent to. Trust me, we’re not shy.
2. Look at the properties around you.  Knee-high grass is not a good thing. Aside from the critters that could be living there, and that will eventually come over to your house, this can be a warning sign of a problem neighbour. Garbage cans and recycling bins on the front porch are not a good thing either.
3. Visit the street at different times of the day.  It may be quiet during school and business hours so make a point of driving by on a Friday or Saturday night. Is there loud music blaring? People yelling in the street? I know this may not be possible to do in a competitive real estate market in that you may not be able to take several days before deciding to go ahead with an offer.  At the very least, talk to the neighbours as mentioned in #1 above.
4. Ask your agent for the sales history of the property. If it has changed hands an unusually high number of times, this could be a red flag.
5. Try to find out how many of the properties are leased or rented vs. owned. Again, your agent should be able to help with this.

Have you ever had a problem neighbour? I encourage you to share your story. I bet you’ll see you’re not alone.

When you’re ready to buy or sell in the Burlington or Oakville area, or for general real estate advice, please contact me. I can help!

Welcome to my very first real estate blog.  I can’t tell you how many times I’ve sat down to get set up to start blogging. I finally set up my WordPress account, and here is the result. 

I hope that you find my blogs informative without being dry and repetitive. My own personal style is to inflect a little bit of humour in pretty much everything I do, and that will include blogging.  So sit back and enjoy my debut blog and what I plan will be the start of many more to come.

So who am I and why am I blogging? 

About three years ago, although I enjoyed my job as a law clerk, I was looking for a new challenge. I wanted to be in control of my own career, how much I earned, etc. Although I have had a passion for real estate my whole adult life, I always felt I would not be strong enough to handle the rejection working in sales would undoubtedly bring.  Of course, if you want to work in sales whether it is selling houses or newspapers — not a good quality to have. Fortunately, with age came confidence and assertiveness and the fear of rejection all but disappeared.

I have thoroughly enjoyed working in this business for what has now been two years. I have worked with many wonderful people and look forward to meeting many more.

I sell all types of residential real estate and have sold properties in Burlington, Hamilton, Waterdown, Oakville, Mississauga, and Brampton.

The intention of my blogs will be to keep you informed of the real estate market as well as various real estate issues affecting you, the consumer. I sincerely hope this will be an interactive blog and I encourage you to post your comments or pose any questions you might have.

That’s it for now. My next blog will contain more real estate related information and I hope that you have enjoyed reading my inaugural blog!

Until next time …

Media Release – Stable Real Estate Market Forecast for 2014 (January 22,2014 – Hamilton,Ontario)

The REALTORS®Association of Hamilton-Burlington (RAHB) expects to see average sale prices of residential properties increase by 3.5 per cent in 2014, according to president Tim Mattioli. He predicted a market similar to 2013.

In a pre-recorded conversation with RAHB CEO Ross Godsoe, Mattioli noted that despite a drop in consumer confidence, continued low interest rates and stable unemployment rates in the Hamilton CMA bode well for the coming year.

“We can be cautiously optimistic for 2014,” he said, “We’re looking at a pretty good year again.”

Mattioli predicted 14,000 residential property sales in 2014 and 19,500 residential listings. Average sale price is expected to increase by about 3.5 per cent.

Results from 2013 showed that all property listings and sales had increased over the previous year, with average sale price up by 6.5 per cent. Total dollar volume from the sale of all properties was over $5.474 billion, more than a 10 per cent increase over 2012.

The residential market similarly showed listings and sales up over 2012 with the average sale prices up by 6.7 per cent over the previous year. Average days on market remained steady at 44 days in 2013. For much of the year, a seller’s market prevailed.

Godsoe noted that the average sale price quoted for RAHB can be misleading. “When (people) hear the REALTORS® Association of Hamilton-Burlington and they hear that average sale price, they think that’s the average sale price of a house in Hamilton,” he said. He noted the average sale price for the city of Hamilton is $307,000 and “in many areas in our marketing area, the average sale price is under $200,000 and also in some areas we have an average sale price of over $400,000.” He emphasized the importance of using a REALTOR® when buying or selling a home, because “they know the market, they know the communities, they know the areas.”

Mattioli noted that the year began with a reduced inventory of listings carried over from the previous year, and the lower inventory was felt throughout the year.

Godsoe compared last year’s predictions with the final results for the year and noted that listings and sales were close to their predicted levels, but the average sale price rose considerably more than the predicted rate of inflation.

When you’re ready to buy or sell in the Burlington or Oakville area, or for general real estate advice, please contact me. I can help!