SOLD In Bluewater ~ Durand-Huronview Subdivision

HOME SALES TAPER OFF IN AUGUST

 

Last month, 569 homes exchanged hands via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR), 3.2% fewer than in August 2022. During the same period, 1,212 new listings came on the market, 13.2% more than in the eighth month of 2022. The local housing supply saw a slight increase from 2.9 months of inventory in July to 3.4 months in August.

 

"In August, the local real estate market experienced a lull, with home sales hitting their lowest point since 2014. Whether that was just a simple summer lull or a direct effect of the Bank of Canada's mid-July decision to raise interest rates and their messaging about the lingering above-target inflation, that remains to be determined by the real estate activity we'll see in the next few months," said 2023 LSTAR Chair Adam Miller.

 

With new listings outpacing sales, LSTAR's overall sales-to-new listings ratio fell to 46.9% in August. "This gave buyers more options and slowed the rate of price growth in our area," Miller added.

September Newsletter ~ The PEDLAR Team Update

 

Hoping For More Warmth In September!   Hope everyone had a great Labour Day weekend and made the most of the nicest weekend, weather wise, of the summer! It is a bitter sweet moment at the end of summer as the kids go back to school and summer feels like it is done. BUT the nice weather is still here and we are hoping for the warm weather to stick around in September! Many businesses continue their hours of operation into September so come on down if you wanted to spend one more day in Grand Bend before things change. We love to talk real estate so call us anytime at 519-238-5700! The PEDLAR Team CMN Hike 2023 Thank you to everyone who has donated so far in our goal of raising $5,000 for the Children's Miracle Network! Garrett Pedlar, of The PEDLAR Team, and Jeannette Pedlar are taking on the Bruce Trail. The mission is to hike the Niagara and Iroquoia Sections of the Bruce Trail, nearly 200KM, from September 18 – 23, 2023! We are collecting donations for Children’s Miracle Network in the spirit of charity! We are just over $4,000 in donations so we would greatly appreciate any dollar donation you can afford to reach our goal of $5,000.  Click the link to donate today: https://childhealth.donordrive.com/index.cfm?fuseaction=donorDrive.event&eventID=560&fbclid=IwAR0IAiGXC7-zPXsSCZNpxl-rChH0Jnjn81zvgfyVDNfeqmFTaRHY_83ZvH0 Understanding Mortgage Insurance Mortgage insurance is designed to protect lenders and borrowers in the event of default on a mortgage loan. When purchasing a home with a down payment of less than 20% of the property's value, lenders require borrowers to obtain mortgage insurance. The primary purpose of this insurance is to mitigate the risks faced by financial institutions when extending mortgages with higher loan-to-value (LTV) ratios.  For lenders, mortgage insurance acts as a safeguard, guaranteeing that they will be reimbursed if the borrower fails to meet their mortgage obligations, such as making timely monthly payments. This assurance enables lenders to offer mortgage loans to a broader range of buyers, including those with limited down payment savings, thus promoting homeownership opportunities for many Canadians.  From the borrower’s perspective, mortgage insurance allows them to access more favourable loan terms, including lower interest rates, even with a smaller down payment. It reduces the barriers to entry into the housing market, making homeownership a viable option for individuals who might otherwise struggle to accumulate a substantial down payment.  Click the link to read the full article: https://blog.remax.ca/understanding-mortgage-insurance/ 8 Tips For A Home That Sparkles Cleaning your home requires more than just soap and scrubbing. It takes strategy. Whether you’re preparing to list your home for sale, or are getting ready to move into your new place, these tips will come in handy. So, grab your supplies, turn up your favourite music, and let’s get to work! Create a "Tackle List" and Strategy Start by Decluttering Refresh Linens & Bedding Deep Clean the Kitchen Disinfect the Bathroom Vacuum Floors & Carpets to Perfection Make Your Windows Shine Don't Ignore Your Outdoor Space Click the link to read the full article: https://blog.remax.ca/8-tips-for-a-home-that-sparkles/ Grand Bend & Area Chamber Of Commerce 8th Annual Fundraising Classic Golf Tournament The Grand Bend Chamber and volunteers always put on a great golf tournament being hosted at White Squirrel Golf Course this year for a day of fun and networking! All proceeds of the tournament go to support the Welcome Centre's Tourism and Visitor Services. Tournament is on Wednesday September 11th with a 1pm shotgun start. This isn't a competitive tournament and is meant for a day of fun for all levels of golfers! There will be a Nazem Kadri signed Calgary Flames jersey being raffled off so you don't want to miss this event! Register today at http://www.grandbendchamber.ca/golf Ausable-Port Franks Optimist Club 50/50 Support the local Optimist Club that is running another 50/50 fundraiser this summer to raise funds for many projects that the club puts on for the youth in our community! The Ausable-Port Franks Optimist Club is celebrating 40 years of giving back to this amazing community and without your support in raising funds this would never be possible. We greatly appreciate anybody who can find it in their heart to buy tickets! With two early bird prizes it pays to get your tickets now! Click the link to buy tickets: https://www.rafflebox.ca/raffle/optimistausableportfranks/ FOR SALE #608 - 9 Pine Street, Grand Bend Listed at $929,900   Welcome to the highly coveted Beachplace Condominiums on Grand Bend main beach! This turn key fully renovated unit offering 1,200 square feet on the sixth floor with panaromic views of Grand Bend and the sandy shores of Lake Huron is the dream spot you have been searching for! Spacious entrance foyer with double closet invites you in to the expansive living room with wall of windows to take in the views. The floor to ceiling tiled surround with gas fireplace and built-in cabinetry give this space an amazing focal point. Patio doors to your lakeview balcony with room for sitting and admiring the beauty of Lake Huron. Lots of space for a dining table off of the kitchen that also has an eat-up bar. The brand new kitchen offers it all with brand new appliances, pull out pantry cupboard, accent lighting, tiled backsplash, granite counters and more. In-floor heat throughout the living space and bathrooms make for a very comfortable space even in the cooler months with gas fireplace for when desired. Central air throughout the unit to make things cool in the warmer months. Spacious lakeview primary bedroom with shiplap accent wall leaves space for a walk-in closet and fully updated ensuite. The ensuite is tastefully done with double vanity, granite counters, deep linen closet or storage and a walk-in shower with tiled floors, walls and ceiling. The unit allows for another bedroom with lakeviews and full four piece bathroom. Brand new carpet throughout bedrooms. In-suite laundry makes living here year round or part time a breeze. Condo amenities include one reserved parking spot, lots of visitor parking, access gate to property, secured entrance into building, storage locker, grounds are beautifully landscaped, seating area and much more. Lots of renovations in common areas to update the hallways, front entrance, trim and more. Never miss our famous Lake Huron sunsets again! The pictures don't do the scenery enough justice and must be seen in person to truly admire. Click the link to watch the virtual tour: https://www.youtube.com/watch?v=pbPn33Y70LU FOR SALE #26 - 48 Ontario St S, Grand Bend Listed at $789,000   Riverfront condo with a premium stand-alone upper unit setting in Grand Bend. Situated along the Ausable River; Harbour Gates offers a private gated lifestyle just a short walk to all of Grand Bend’s amenities and the fantastic beaches of Lake Huron. With the sprawling green space, tennis courts, in ground pool, firepit area and boat docking along the riverfront boardwalk this is one the best locations in town! Inside, the unit has been updated throughout to give you an open concept design with modern finishes and thoughtful design. The spacious kitchen features quartz countertops, maple cabinetry, pot lighting, center island with seating and separate eating area with built-in stainless-steel appliances. Plus, a drink cooler and wine cellar for entertaining. Living room includes a stone feature wall with gas fireplace plus walkout patio doors to your oversized deck. Enjoy views of the river from your private patio space with gas bbq hook up and awning for shade on those warm summer days. Upstairs, your primary bedroom suite overlooks the river with a large bay window, double closets, and access to the cheater ensuite that was updated with quartz countertops, stand up shower and lots of storage in the cabinetry. The second bedroom allows room for family and friends to visit. Luxury vinyl plank flooring with neutral paint tones throughout. This unit was built with additional extra’s for the location with an additional window overlooking the pool area in the living room, oversized wrap around deck and no neighbors beside you! In unit laundry as well as parking for one car and additional guest parking. Home owners get yearly first right of refusal on the dock space at $15 /foot (2022). Lots of recent updates like kitchen, flooring, pot lights, bathrooms, fireplace and surround in 2022. Updated furnace 2020, AC 2019, Hot water heater owned 2022.Click the link to watch the virtual tour: https://www.youtube.com/watch?v=H6hEpKKXS4Q   FOR SALE 25 Gill Road, Grand Bend Listed at $625,000   Welcome to affordable housing here in Grand Bend with this 4 bedroom, 1 1/2 bath home just minutes to downtown and the beaches of Lake Huron. Features over 1300 sq. ft on the main floor plus the original 2 bedrooms on the second floor with lots of opportunities as a starter home or an investment property with lots of parking and a spacious 83' by 182' treed lot. There is room for everyone, especially in the private backyard and it is close to shopping, a walk to the beach, grocery stores and all the conveniences of the Bend. The paved laneway has room for at least 6 cars and the 28' by 35' garage has a separate workshop already in place. The owners have tried to keep up the house with updates like the electrical, furnace, hot water tank, roof and windows plus the main bathroom was just recently updated with new flooring, countertops, and lighting. Most of the home features new laminate flooring and there are potlights in the living room. All the appliances are included like the fridge, stove, washer, dryer and all the window coverings so you can move right in. Come and see this affordable home right here in Grand Bend. Click the link to watch the virtual tour: https://www.youtube.com/watch?v=rX8hWLY7uFQ   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