End of 2022 & 4th Quarter 2022 Market Report

Bank Of Canada 25 Basis Point Increase

2022 The PEDLAR Team Year In Recap

January Newsletter ~ The PEDLAR Team Update

 

Happy New Years From The PEDLAR Team! Welcome to 2023!   Hope everyone enjoyed their holidays and were able to spend some time relaxing, seeing friends and family, getting some good food and not caught in any snow storms! The young ones got what they wished for which is a snow filled Christmas morning. Thankfully for the adults that snow is all gone and we can traverse the roads much easier. Our family loves going skiing in the winter so we would like to see some snow come back but we will have to wait and see. It's a new year and an opportunity to set some goals for yourself either personally or professionally for the year ahead. I think an overarching goal we can all take on this year is being more accepting of one another. Unfortunately COVID did one thing really well, divide people and families! We hope you are excited for the new year and don't let the media take that smile off your face! We love to talk real estate so call us anytime at 519-238-5700 Lambton Shores Short Term Rental Licensing Program For those clients that have a property that they rent out in Lambton Shores this is for you! To make sure you know exactly what is going on and what you should do please click the link below for more information! For those that submitted their short term rental info to the municipality last year, you will be contacted by the municipality directly to help with any questions you may have. Click the link: https://www.lambtonshores.ca/en/our-government/short-term-rental_licensing.aspx?fbclid=IwAR12uVFzn6D4uQLNrrAgAZLtNSkW5zbiRay6mglZiDn2OXD9eC3kSxrPldk Sellers: 5 Ways To Make Your Home Stand Out In Today's Market   In this ever changing market as we go to a balanced market after a few years of a sellers market is imperative to take the right steps to get top dollar for your home. Here are 5 tips to help make that happen! 1) Make Renovations Big Or Small 2) Improve Curb Appeal 3) Stage If Applicable 4) Professional Photography 5) Hire The PEDLAR Team To List Your Home! Read the full article by clicking this link: https://news.remax.com/sellers-5-ways-to-make-your-home-stand-out-in-todays-market?fbclid=IwAR2XF7M04ymjLfA4gWvpz_bSvEpM8_aHmsQhLzX8Y7lFZ4l_NEmr0FOTjLA Pros & Cons: Banks Vs. Mortgage Brokers   When looking for a good mortgage rate, there are two main options: going directly through a bank or working with a mortgage broker. Each can be a good option, depending on your financial situation. So how do you decide which one to try? Let’s look at the difference between banks versus mortgage brokers, their pros and cons, and how to figure out which is best for you. The big difference between a bank and a mortgage broker is that a mortgage broker can provide you with mortgage products from several different lenders, while a bank can only give you the mortgage option from their own company. Mortgage brokers have access to a variety of lenders and rates, which means they can find the lowest possible rate for you and any specific terms you’re interested in, and brokers may even enjoy volume discounts, since they regularly do business with a variety of lenders. We have a list of bank and mortgage brokers to contact if you would like assistance in putting you in contact with some local professionals and get your research started today! Read the full report by clicking the link: https://blog.remax.ca/pros-and-cons-of-banks-versus-mortgage-brokers/ Featured Business Of The Month The Dunes Refillery 8575 Lakeshore Road, Lambton Shores   This month we have another amazing local business to feature! The Dunes Refillery just outside of Port Franks at 8575 Lakeshore Road, Lambton Shores. They have a vast assortment of meats, oils and so much more! You have to make it a stop on your way through and make sure to bring some empty containers to fill up with all their goods! Here are some words from the owner, Raquel, below. It wasn’t until after moving away from the city and forced to slow down during a global pandemic that we realized how consumed we’d become with fast fashion and throwaway culture. This coupled with having two small children at home with a vastly different idea of a good snack also kicked these plans into high gear to reverse the disconnect we had created with food and shopping resourcefully. It started by shopping the local fruit and farm stands, then realizing there was still a gap for one off things that we needed just a pinch and a dash of that, thus began the research into more sustainable and zero waste stores in Canada. While completing our research it was apparent that while Lambton shores was brimmed with opportunity for low waste sellers and a community looking for more sustainable options there wasn’t a space that brought all our ideas together. With that, we built the Dunes Refillery, what started with locally sourced low waste products, refillable household cleaners, and bulk pantry staples quickly turned into frozen foods, artisan cheese, and the introduction to the creamiest milk around!  We understand that the transition to a low waste lifestyle can seem daunting and perhaps time consuming, so we sought out the best of the best to help bring our dream to fruition and on boarded staff that had the same values and dreams we had to keep our store open 7 days a week. It’s been a quick eight months and definitely hasn’t come without lessons but in such a short time we’ve built so many beautiful connections and can’t wait to see what this next season has in store! Click the link to check their website out: https://www.thedunesrefillery.com/ FOR SALE 29 Beach Lane, Grand Bend Listed at $2,200,000   Picture perfect lakefront setting in the heart of Grand Bend with great curb appeal and over 3000 sqft of well-designed living space. Walk out your front door to the Blue Flag designated beaches of Lake Huron with sandy shores for long beach walks and world-famous sunsets. At first glance you see the landscaped gardens, triple wide stamped concrete drive, covered front porch with composite decking, irrigation system and 1.5 detached garage complete with power supply for EV charger and change room to shower off the sand after the beach. Inside your welcomed into the home at the foyer which opens to the heart of the living space. The home was completely updated in 2000 including new foundation, electrical, plumbing, drywall, and Pella windows while also enlarged adding the lower level, upper level, and front main floor family room sunroom. They did leave some original charm in the living room and dining room that features knotty pine walls, ceilings, and original hardwood floors as well as a gas fireplace with stone feature wall. The kitchen was updated in 2013 with an abundance of working space and storage. The main floor sunroom family room is the perfect place to relax with a wall of windows overlooking the Lake and a walkout to the lakeside screened in porch. The main floor also includes a full bathroom and guest bedroom. Upstairs you have your spacious primary bedroom suite overlooking Lake Huron with walk in closet, 4 pc ensuite and private walk out covered patio. There’s 2 additional bedrooms, 4 pc bath and laundry room on the second level for family and friends. Finished lower level with another large family room that includes pot lighting throughout. Space for a workshop in the utility room and lots of storage. This home is certainly a unique offering that showcases pride of ownership by the same family for over 70 years! Click the link to watch the virtual tour: https://www.youtube.com/watch?v=vIvTol-UoR0 FOR SALE 277 Station Street, Parkhill Listed at $549,900   Welcome to 277 Station Street in Parkhill! This updated bungalow offering just over 1,800 finished squared feet of living space with a detached in-floor heated 20'x30' garage that is sure to impress you. Situated on a quiet street in Parkhill offering a 50'x167' lot with a fully fenced back yard. Enclosed front mud room makes for a great entrance foyer. As you step inside to the open concept living room, kitchen, dining area. Updated kitchen with stainless steel appliances, quartz countertops, flooring and breakfast nook. Lots of large windows for natural light with California blinds for privacy in the living room. Main floor offers three generous sized bedrooms with a three piece bathroom. Depending on what you prefer there is laundry on both the main level and lower level. Sliding door to spacious back deck with lots of room for patio furniture and enjoying the back yard. Lower level offers all the bonus space with lots of storage, large laundry room, rec room with gas fireplace, full bathroom and the fourth bedroom. Parkhill is a great town for first time home buyers, young families, retirees and everything in between. Only 30 minutes from London and 15 minutes to Grand Bend and sandy shores of Lake Huron.Click the link to watch the virtual tour: https://youtu.be/v_cVLevb0Ms   FOR SALE 13 Creekside Place, Grand Bend Listed at $749,900   Charming yellow brick multi use building in downtown Exeter. Store front with Main St access creates great visibility for a any retail business with 600 sqft of space. Front and rear entrance, 2 pc bath, exposed brick walls, ceramic tile floors, 10' ceilings and large display window. On the upper floor you have a 1 bedroom 1 bathroom apartment that was just renovated this summer. Featuring exposed brick walls, modern kitchen and bathroom, Ash hardwood floors and spacious living room overlooking Main ST. Lots of natural light throughout the apartment. Updated roof and windows in the last 10 years. Property currently rented with business on month to month lease and upstairs apartment rented on 1 year lease. Building and land only for sale. Click the link to watch the virtual tour: https://www.youtube.com/watch?v=lSyHtVP56hM   Support Your Local Ausable-Port Franks Optimist Club Online Raffle 50/50 Buy your tickets today to get in on the early bird prizes that were donated by some amazing local companies that include Westland Greenhouse, Green Bucks, The Lake Hound, Grog's Pub & Grill & Colonial Hotel! Click here to buy tickets today: https://www.rafflebox.ca/raffle/optimistausableportfranks/ 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 2023 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

Quiet December Wraps Up Modest Year

 

299 residential properties exchanged hands last month in the jurisdiction of the London and St. Thomas Association of REALTORS® (LSTAR), bringing the total number of homes sold through the Association's Multiple Listing Service® (MLS®) System in 2022 to 7,639.

"The last month of 2022 was the December with the lowest number of home sales recorded by LSTAR in the last decade. And, overall, 2022 saw the second lowest number of home sales since 2012," said Randy Pawlowski, 2022 LSTAR President.
"No one could have predicted that at the beginning of the year when the local housing market peaked, fueled by the lingering pandemic and its socio-economic effects. Once the economy started to get back on track and the Bank of Canada began increasing its benchmark rate, the dynamics of the local housing market changed drastically. One could say that, for LSTAR Members, 2022 came in as a roaring lion and went out like a lamb," he added.

While residential transactions were at their second-lowest point in the last decade, the number of new listings climbed to 14,126 - the second-highest yearly total during the same time frame. This brought the number of months of inventory to 3.8 as of December 31st.

"December's sales-to-new listings ratio sat at 74.6, which shows that housing demand is still high in our area," Pawlowski observed. "With the increased levels of inventory, local Buyers have now more choices and time to shop for new homes. However, the considerable loss of affordability triggered by the successive interest rate hikes continues to challenge local Buyers. And on the supply side, many homeowners are reluctant to list their properties, given the recent drops in average and HPI benchmark prices," he noted.

Compared to a year ago, LSTAR's average home price decreased, but remained higher than the figures seen in 2020 and before. Year-to-date, the overall average price of LSTAR sat at $724,583. In December, LSTAR's overall average home price was $612,770, 14% lower than a year ago, but 10.5% higher than in December 2020. 

Lambton Shores Short Term Rental Licensing Program