SOLD In Grand Bend ~ VanDongen Subdivision

LEASED In Grand Bend ~ Downtown Location

SOLD In Parkhill ~ Multi-Unit Investment Property

SOLD In Zurich ~ Stone Meadows Community

March Sees Record Number of Listings, but Inventory Remains Low

 1,049 homes were sold in March 2022 in the London-St. Thomas area via LSTAR's MLS® System. During the same time frame, 1,544 listings came on the local market, which makes last month the March with the highest number of listings in the history of the London and St. Thomas Association of REALTORS®. 

"Despite the record number of listings, our inventory – the number of active listings at month end – saw just a slight increase from last month, creeping up from 0.5 months to only 0.6," said Randy Pawlowski, 2022 LSTAR President. "The sales-to-new-listings ratio for the entire jurisdiction of LSTAR was 67.9%, much lower than a year ago, but still indicating a Sellers' market," he continued. "The latest interest rate hike by the Bank of Canada may have put a damper on what has been so far a truly fierce competition among local home buyers," he explained. 

In March, the overall average price for all home types in our area was $823,954, whereas LSTAR's composite MLS® Home Price Index Benchmark Price sat at $774,200. "These figures suggest that the pace of home price gains might have started to slow down in our area," Pawlowski said. "It's way too early to predict the impact of this new measure, but Ontario Government's recent decision to increase the non-resident speculation tax to 20% and expand it throughout the whole province might also help tame home prices," he added. 

April Newsletter ~ The PEDLAR Team Update

 

April Showers Bring May Flowers!   Hope everyone is enjoying their April thus far and not sick of the rain yet because the forecast shows more on the way. The best thing to do is simply smile and keep moving forward because that's all we can do. Think about the flowers blooming in May for some inspiration to stay positive! The market continues to amaze us as homes priced correctly continue to get the attention they deserve and usually selling for more. As we enter the Spring market it should be interesting to see how the new inventory is absorbed by buyers as Summer is only a couple months away! Also if you haven't drove down the main street you should definitely go take a look before the new stuff is all built! Very exciting to see multi-millions getting pumped into our little town by investors that see our town as having mega potential. We must give a big pat on the back to those at the Grand Bend Chamber of Commerce, local entrepreneurs that own the restaurants and small business, and to the volunteers that continue to strive to offer a bigger and better experience for those who live and travel to our area. The new edition of 'IT STARTS AT THE BEACH' was just released and there may be some recognizable faces on the cover! This magazine is put together by our Grand Bend Chamber Of Commerce to showcase everything our amazing community has to offer from a walking trails map to a brewery tour map. Pick your copy up at the Grand Bend Chamber of Commerce office or come into our office at 46 Ontario Street South in Grand Bend. Have a great Easter weekend and hopefully we get some nice weather for it! Want to take advantage of the Spring market then give us a call for an evaluation and see if now is the right time for you! Call us anytime at 519-238-5700. Lambton Shores Short-Term Rental Update   This past Tuesday was another council meeting where the topic of short term rentals were discussed again. To view all the latest details of that discussion click the link below. The big opposition to what was proposed in the past council meeting was a maximum occupancy of 8 people in a home. This seems to be a sticking point for the general public that could either be on sewers or homes built to accommodate 2 people per bedroom in a 5 or 6 bedroom home. Sounds like some changes are going to be made to increase the occupancy and exclude children under 12 in that max occupancy figure. To read the full report from Tuesday's council meeting it is in the link below. Another major talking point is implementation of these policies taking effect for 2022 or hold off till February 2023. Click the link to view full council report: https://www.lambtonshores.ca/en/our-government/resources/Documents/Short-Term-Rentals/CAO--2022-Short-Term-Rental-By-Law-and-Licensing-Program-.pdf Canadian Housing Market Outlook To 2027 Re/MAX Canada came out with their 'Canadian Market Housing Outlook Report to 2027' with some very interesting material that all home owners should read. Here are some Key Takeaways and Survey Results below with a link to the blog and link to the full report at the bottom. Key takeaways: Interest rate increases at a reasonable schedule of four times a year would create a stable and more relaxed housing market over the next five years. Current immigration policy is focused significantly on accepting new Canadians on the basis of their economic and social capital characteristics (i.e., education, French/English language skills, and previous Canadian work or study experience). However, the policy could be more clearly linked with national labour market demands, especially relating to construction trades, potentially addressing housing supply issues driven by skill shortages. While the deployment of taxes such as the foreign buyer’s tax has been front and centre over the last few years as a tactic to calm Canada housing market prices, removing the exemption on capital gains for principal residences could have a greater impact on market disruption. According to a Leger survey commissioned by RE/MAX Canada as part of the report: Over the next five years, Canadians said taxation (50 per cent), rising interest rates (46 per cent), and the possibility of an economic recession (42 per cent) rank as their top three worries when it comes to buying a home. Thinking ahead five years, 37 per cent of Canadians say their preferred community would be suburban, while 30 per cent want to live in an urban environment, and 27 per cent say rural. 61 per cent of Canadians agree that real estate is the best long-term investment they could make (which they don’t see changing over the next five-years), however, rising property-related taxes (64 per cent), rising interest rates (58 per cent) and a possible capital gains tax (55 per cent) are factors that would cause barriers or concerns when it comes to buying a home in that time frame. To read the full blog click this link: https://blog.remax.ca/canada-housing-market-outlook-to-2027/ To view the full report click this link: http://download.remax.ca/PR/REMAXUnlockingTheFuture_Chapter1.pdf Province Makes Further Restrictions Against Foreign Investors   Ontario real estate is more expensive, and thus, less attainable than ever. In an effort to cool the hot housing market, the Ford Government has increased and expanded its foreign homebuyer tax, effective today. The Non-Resident Speculation Tax (NRST) first took effect in 2017 as a 15-per-cent tax applied to properties within the Greater Golden Horseshoe Area that were purchased by foreign nationals, foreign corporations and taxable trustees. Starting on March 30, 2022, the tax will impact foreign-purchased properties province-wide, at a higher rate of 20 per cent. The change comes as part of the Ford Government’s action plan on housing, aimed at tackling the affordability crisis. The Province said the tougher NRST rules are intended to “strengthen efforts to deter non-resident investors from speculating on Ontario’s housing market and help make home ownership more attainable for Ontario residents.” Click the link to view the full Re/MAX Canada Blog: https://blog.remax.ca/province-cracks-down-on-foreign-speculators-in-ontario-real-estate/ Getting Your Home Ready For Spring   It's that time of year to give your home a good Spring cleaning! The focus should be on a deep clean and decluttering to help everyone in the home destress. Click the link below for a great list of things to do in all the different parts of your home. It is a long list so even if you get half of these things done you are doing awesome! You will thank yourself later we promise. Click the link to view the full list: https://www.cachethomes.com/spring-cleaning-tips-2022/ Feature Business Of The Month Green Bucks With Matt & Julie DeJong   We love showcasing our local business owners that love this community as much as we do! They recently were awarded the “Best Specialty Store” in the 'We Love What's Local' campaign! Matt & Julie DeJong took ownership of GreenBucks Dollar Discount Store in Grand Bend in the fall of 2014. It was an established business, purchased from founder Dave Greene who was retiring at the time. The DeJong’s have enjoyed stocking the store with key items for everyday needs but have also grown the business to include a larger variety of those everyday items along with adding a new seasonal décor section. Their goal is to provide our community and beyond with quality products at affordable prices and this is a commitment they are proud to stand by. In fall of 2017, they decided to expand their business to include a seasonal Christmas Store. Operating out of an empty unit beside the Dollar Discount Store, this was well received each year following by so many that they knew an expansion was necessary. In Spring 2021 with much excitement, the construction of their newly designed Seasonal Store began at 10005 Lakeshore Road, Grand Bend – just 5 minutes south of their main store. Opening day for GreenBucks Country Christmas Store was held in November 2021 and what a success it was, thanks to our local community and many visitors travelling for hours to visit. Following the Christmas season, this location closed for the months of January and February while staff changed over to a new look for Spring and Summer. This store was reopened once again in March 2022 with beautiful new home décor for both indoors and outdoors. The DeJong’s main goal for this location as well, is to continue their tradition of offering high quality products priced lower than the suggested cost and to have something for everyone! They look forward to welcoming all the new residents moving to Grand Bend as well as the many tourists who visit our beautiful town throughout the year. They hope you will stop by to say hello and browse through both their store locations. Click the link to check their website out: https://gbucks.ca/   FOR SALE 9899 Wilbert Street, Grand Bend VanDongen Subdivision Listed at $529,900   Year round home in Grand Bend surrounded by mature trees on a nice corner lot in Vandongen Subdivision. Cute and tidy bungalow with board & batten siding, brick front accent and asphalt drive with lots of parking all situated on a 109’ x 160’ lot. Spend time outside with family and friends playing horseshoes or your evenings around the fire pit. Inside you have an open concept interior with hardwood floors and lots of natural light throughout. Eat in kitchen updated in 2010 with wood cabinets, tile backsplash and patio doors to the brand-new back deck. Dining room area could be an excellent office or 3rd sleeping area. Sunken living room overlooking the front yard. 2 bedrooms on the main floor with an updated bathroom. Full basement partially finished with a second full bath and bedroom. Potential to finish off a second living room with wood fireplace and brick accent wall. Gas forced air heat with AC. Home can come fully furnished with everything needed to move right in and enjoy life in Grand Bend. Click the link to watch the virtual tour: https://www.youtube.com/watch?v=D7x-rl7qROU   FOR SALE 9717 Army Camp Road, Ipperwash 7 Unit Investment Property Close To The Beach Listed at $1,450,000   Multi unit investment opportunity just a short walk to Ipperwash Beach. The Pinewood Motel situated on a large 226’ x 200’ parcel (triple wide lot) with mature trees and a park like setting. 7 units in total consisting of 4 x 2 bedroom 1 bath suites with kitchenette’s, 2 x bachelor units and the 2 bedroom 1 bath owners suite with full kitchen and living room. Units 1,2,3,&4 are the 2 bedroom suites that are 25’ x 15’ with vinyl plank flooring and updated kitchens. Units 5 & 6 are the bachelor units 12’ x 24’ with in floor heat. Owners suite is 24’ x 26’ with in floor heat. Each unit has its own Daikin mini split unit (2019) for heat and AC. Large laundry room and owners storage space as well as a separate office space at the front 9’x7’. Landscaped pool area with 4’ chlorine pool. Lots of recent updates throughout like kitchens, flooring, most stoves, and fridges plus much more. New roof 2013, new septic system 2013. Units 5,6 and owners suite built in 2013. Comes complete with all chattels, website and phone number making this a turnkey investment. Building is located on 2 lots with the third lot being a vacant residential lot included with the sale. Great opportunity to make this into a summer retreat and weekly rental location families can enjoy for years to come. Click the link to watch the virtual tour: https://www.youtube.com/watch?v=2LqXYmw3m_A   Ontario Regional Referral Team Looking to move outside of the area and not sure who to call? As always call The PEDLAR Team with any of your real estate needs! We are closely connected with a group of realtors that cover Southwestern Ontario. Along with our involvement in the Re/MAX community we are sure to line you up with a trusted knowledgeable real estate agent to make your plans a reality anywhere in North America, or the world for that matter because Re/MAX is global! Check out the website for ORRT and learn more about the group: https://www.orrt.ca/ Get Your 2022 Grand Bend Locals Card!   Support Local With Your GRAND BEND Locals Card It is the hope that this card will encourage you to choose local businesses, more often. They've been quietly adding new businesses, new offers and TWICE as many draws! As lovers of Grand Bend, we need to stick together and keep our businesses OPEN. These Local businesses who are unable to provide specific offers, have stepped up to help provide MORE CARDHOLDER Draws! More Draws = More Winning & More Local Spending. Let's support them, for all they do to support our community.   Click the link to see more information: https://grandbendlocals.com/ New To Lambton Shores? The municipality of Lambton Shores is starting a new initiative of making municipality information easier to find out. Check the link out and see what things you didn't know about this awesome municipality.  Click the link: https://www.lambtonshores.ca/en/living-here/new-to-lambton-shores.aspx?platform=hootsuite   Lambton County & Huron County Business Map   A new initiative started by the Lambton County & Huron County Economic Development groups was uploaded recently. They each created a virtual mapping website to show all the businesses and store fronts across the counties. These were created as an idea during COVID and will become a great tool for locals and tourists alike after COVID. Any business can be posted in the respective area if you go to the proper link below for each county.  Lambton County: http://www.shoplambton.ca Huron County: https://huron.maps.arcgis.com/apps/webappviewer/index.html?id=dc52efb9fee04e748431bb74c8335c9f Social Media   Have a great day everyone and don't forget to check out our social media sites like youtube, facebook, twitter and our website to stay up to date on all the latest listings. You can find the links to these various social media outlets above our information below. See the benefits of using a high quality drone and camera for videos and pictures to add content to each listing. GIVE US A LIKE ON OUR FACEBOOK PAGE BY CLICKING THE ICON BELOW! We love to hear about your experience with The PEDLAR Team so please feel free to head to our facebook page and leave a review. Click the link to leave a review: https://www.facebook.com/thepedlarteam/reviews/

If you or any of your friends and family are looking to buy or sell make sure to call us first! Referrals are the greatest compliment Check our website out by clicking the link below http://www.grandbendrealestate.com  Doug Pedlar      Mark Pedlar     Garrett Pedlar      Broker of Record                         Broker                        Sales Representative   519-902-4099    519-670-0746     519-872-0910  remaxdoug@hay.net           remaxmark@hay.net          remaxgarrett@hay.net