SOLD In Lambton Shores ~ 100+ AC Farm

SOLD In Grand Bend ~ 1.5 Storey Home With Detached Garage

SOLD In Bluewater ~ Highlands 2 Newer Bungalow

SOLD In Lambton Shores ~ Commercial Business

SOLD In Lambton Shores ~ Oakwood Estates Side Split

SOLD In Port Franks ~ Riverfront Side Split Home

SOLD In Lambton Shores ~ Lake Valley Grove Retreat

SOLD In Parkhill ~ Updated Bungalow On Gorgeous Lot

SOLD In Parkhill ~ Side Split On Large Lot

SOLD In Parkhill ~ One Floor Bungalow

SOLD In Grand Cove Estates ~ Updated Bungalow

 

The PEDLAR Team CMN Hike 2024   Garrett Pedlar and his mom, Jeannette Pedlar, are taking on the Bruce Trail again! Their mission this year is to hike the Toronto & Caledon Hills sections from April 19-23, 2024 and then the Dufferin Hi-Land & Blue Mountain sections from September 20-24, 2024. Totaling over 230 KM all in the name of Children's Miracle Network! All donations go to CMN and with a goal of $10,000 we need all the help we can get. We raised over $8,000 last year and want to aim to get more this year! Any donation value is greatly appreciated in support of our mission. You will get a donation receipt immediately once donating. Click the link below to donate or scan the QR code below and it will take you directly our individual Children's Miracle Network donation page. Click to donate today: https://childhealth.donordrive.com/index.cfm?fuseaction=donorDrive.event&eventID=577

Home Sales, Prices Climb in February

 

594 homes exchanged hands last month via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR), marking a 33.2% increase in sales activity over February 2023. The number of newly listed properties rose from 873 in January to 1,024 in February, showing a 31.8% increase over a year ago.   "While the number of home sales remained on par with LSTAR’s 10-year-average for February, the number of newly listed properties soared to new heights, reaching its second highest value for that month," said 2024 LSTAR Chair Kathy Amess. "Many of the Sellers who chose to adopt a ‘wait-and-see’ approach in the last months of 2023 were encouraged by the fact that the Bank of Canada decided once again not to increase its benchmark rates," she explained.   Out of the 594 residential properties sold in February in LSTAR's jurisdiction, 417 were single-family homes, 104 were townhouses, and 54 – apartments. The average price for a single-family home in LSTAR’s jurisdiction surged from $605,785 in the first month of the year to $682,780 last month, while that of a townhouse climbed only slightly - from $504,304 in January to $507,229 in February. The average price of an apartment from the London-St. Thomas region increased from $319,210 in January to $382,496 last month.   "In addition, the average prices for single-family homes and apartments saw slight year-over-year increases, rising by 1.7% and 3.9% respectively,” Amess emphasized.  “However, when compared to February 2023, the average price of a townhouse remained virtually unchanged,” she added.   Housing supply plummeted from 3.3 months of inventory in January to 2.7 months in February.   "LSTAR’s sales-to-new listings ratio settled at 58% last month. This is something that we like to see because indicates a fairly balanced real estate market, which benefits all the parties involved," Amess said.   The overall average home price of LSTAR saw a month-over-month uptick – from $605,785 in January to $617,790 last month – but was 0.2% lower than in February 2023. However, the Composite MLS® Home Price Index (HPI) Benchmark Price posted month-over-month and year-over-year gains – of 2.5%, and 1.7% respectively - climbing to $587,400.

March Newsletter ~ The PEDLAR Team Update

 

Feeling Lucky To Find That Pot Of Gold In Your New Dream Home Or Cottage! Local ARTWORK Giveaway! Welcome to March! Lots of things to be excited about as we enter March with the first day of Spring on March 20th, International Women's Day today March 8th, debatably one of the best holidays in the calendar year with St. Patricks Day and Easter at the end of the month! The weather has been nothing short of amazing for those that like the warmer temperatures and we all might be on the golf course before we know it. The real estate market is showing strong signs of life with more sales being processed in the past two months of 2024 then the last six months of 2023 all together. It is shaping up to be a much more balanced market today in comparison to the pure buyers market we found ourselves in for the last half of 2023. The Bank of Canada (BOC) did not change rates again this past week so that was positive news for the real estate market and something most experts were predicting. Our guess is that you won't see interest rate decreases till the Summer. Our hearts go out to the homeowners that are getting stretched thin with their increased mortgage payments due to the BOC rapid increase. On the other hand if the BOC alleviates those homeowners pains by decreasing the rates they have the potential to spark a fury of buyers coming back into the market and inflating prices. The last thing the BOC wants to do is see inflation go up at all and will make every decision in an effort to make sure this does not happen! The spring market always brings buyers to the table so a decrease in the rates would only add gasoline to that situation. There was a survey that said 51% of buyers that put their homebuying dreams on hold due to interest rates over the past two years would not consider buying a home until the interest rate decreases at least once.  This month we are giving away some local artwork that would look great in your home as a pair! A simple map of both Lambton County and Huron County. Grand Bend is on the far northeast tip of Lambton County in Lambton Shores. Just north of Grand Bend is where Huron County starts so the pair covers a large region around Grand Bend. Simply answer this question to get your name entered into the draw: What is your favourite food or drink to add green to in celebration of St. Patrick's Day? We are never to busy to talk real estate so give us a call today at 519-238-5700! RE/MAX Canada Taxes & Canadian Real Estate Report In an analysis of six major housing markets including Vancouver, Calgary, Winnipeg, Toronto, Montreal and Halifax, RE/MAX found governments at all levels are collecting billions from Canadian homebuyers through levies and development fees on new construction, as well as land transfer and property taxes on residential properties. Tax rate increases, in tandem with record-high housing values and mortgage rates, have sparked a post-pandemic exodus from the country’s most expensive markets, contributing to a significant uptick in interprovincial migration numbers in Alberta and Atlantic Canada in 2023. While some homebuyers were content to move outside of core markets within their province, close to 60,000 Canadians found their answer to the current housing crisis in Alberta and, to a lesser extent, Nova Scotia, New Brunswick and Prince Edward Island. According to Statistics Canada’s Quarterly Demographic Estimates, Provinces and Territories Interactive Map, interprovincial migration doubled over already-strong year-ago levels in the first three quarters of 2023 in Alberta, with the province welcoming 45,194 people, compared to 22,278 during the same period in 2022. Read the full report by clicking this link: https://blog.remax.ca/taxes-contributing-to-shift-to-more-affordable-canadian-housing-markets/?rmxv=1707229493 Looking For A Mortgage Or Renewal Coming Up?   If you are looking for a new mortgage or have a mortgage renewal coming up it is never to early to start the process!  Looking For A Mortgage? - Consider both fixed and variable rates and find out if these rates are negotiable - Investigate different prepayment options - Be aware of their early termination penalties in case your mortgage needs to be broken early - Different lenders allow different options so know your payment flexibility - Use a lender with a good reputation and great customer service Looking to Renew Your Mortgage? - Start the renewal process early - Know the terms of your current mortgage - Explore all your options - Negotiate the terms Looking for a new mortgage or renewing your mortgage can be a stressful scenario considering the past two years increases to the interest rates. To alleviate some of that stress we strongly recommend getting in touch with a mortgage agent/broker 2-3 months in advance. We suggest talking to multiple mortgage agents and see who is the right fit for you! We are more than happy to provide you with mortgage agents contact information and let you take it from there to find your best suited fit. The Ultimate Guide To Landlord-Tenant law   The financial rewards of investing in multifamily commercial real estate properties or leasing out space you already own can be significant. Having a steady flow of monthly rental income can offer you greater financial freedom both now and in the future. Still, landlord-tenant relationships can be complicated. If you’re considering becoming a landlord in Ontario, an in-depth understanding of landlord and tenant responsibilities under Ontario’s Residential Tenancies Act can help make your single or multifamily rental an amicable and profitable business venture. Landlord-tenant law refers to the various provincial and territorial legislations that outline the rights and responsibilities of landlords and tenants involved in residential and commercial leases and may also govern rental application and screening processes. The Ontario RTA (formerly known as the Ontario Landlord and Tenant Act) sets out landlord-tenant rights and responsibilities once the parties enter into a tenancy agreement. Ontario’s Landlord and Tenant Board (LTB) ensures the rights and obligations of both landlords and tenants are balanced and is a tribunal with the authority to resolve disagreements between landlords and tenants. Click the link to read the full article: https://blog.remax.ca/the-ultimate-guide-to-landlord-tenant-law-in-ontario/ 37 Orchard Road, Grand Bend Listed at $599,900   LOCATION! LOCATION! LOCATION! Create your own dream home/cottage or enjoy the home as it is at 37 Orchard Road in Grand Bend. This home is just steps from south beach on the other side of the marina from main beach. The location is steps from every amenity that Grand Bend has to offer including restaurants, shopping, marina, parks, grocery stores and much more. Very rare bonus about this small area is that these homes are all serviced by municipal sewers! Along with the typical municipal water, gas and hydro. Beautiful lot measures 50' x 180' with a long double wide asphalt driveway leading to the double car carport. The bungalow home was built in 1974 with two bedrooms and one full bathroom. The basement was recently redone with new flooring and paint. Come view this home and bring your imagination because with the right vision you could create an absolute haven for yourself! Offers being reviewed on March 20th. Click the link to watch the virtual tour: https://www.youtube.com/watch?v=WWRWbNws8O8     9901 Eric Street, Lambton Shores Listed at $619,000   Family home in the family friendly community of Walden South. Situated along the Ausable River with deeded docking in the community river frontage. Situated on a private pie shaped lot backing onto farmland with a large gravel drive, steel roof, stamped concrete patios and walkways with a 10’ x 15’ shed for storing all your outside toys. Inside, the home has a spacious 4 level split design with lots of natural light flowing throughout the home. Main floor living room with hardwood floors and vaulted ceilings. Eat in Kitchen with cherry cabinetry, granite countertops and marble tile backsplash. The cherry cabinetry matches the custom cherry trim on the main floor and upstairs hallway. Upstairs you have 3 bedrooms, which includes the primary bedroom, plus a full bathroom. Walkout lower level with large patio doors leading to a stamped concrete patio. Enjoy time with the family in the large family room with a gas fireplace along an angel stone feature wall. Coming in from the driveway you have a mudroom on the lower level with 2-piece powder room. Lots of storage in the unfinished 4th level. Pride of ownership shows throughout the home making this a must see on your list when looking for your next place! Click the link to watch the virtual tour: https://www.youtube.com/watch?v=tTMeXLL9kAA 10147 Port Franks Estates Dr, Port Franks Listed at $779,900   Nicely updated bungalow home on a private setting in the heart of Port Franks. Large 80’ x 188’ yard nicely landscaped with a concrete double wide drive, steel roof, single gar detached garage, concrete fire pit patio and 12’ x 12’ garden shed. Enjoy your time outdoors on the back deck with covered gazebo and low maintenance composite decking. Inside, the home features vinyl plank flooring throughout with pride of ownership evident in the well maintained and updated interior. Main floor living room includes a large picture window over looking the front yard, gas fireplace and pot lighting. The kitchen includes oak cabinetry that matches the oak trim on the main floor, glass tile backsplash, stainless steel appliances and a side entrance with built in bench and storage. Eating area off the kitchen leading to the living room with patio doors to the back deck. Lots of natural light flows throughout the main floor. 2 bedrooms on the main floor including your primary bedroom. The main floor also includes an updated main floor bath with glass tile features and main floor laundry room. Downstairs is great for the growing family, a space to relax or guests with heated floors keeping the space warm and inviting. Large family room that is big enough for a workout space, ping pong table or games area as well as space for entertainment and enjoying the game on the TV. Two additional bedrooms in the lower level with an updated bathroom. Additionally, the home has an updated furnace (2022), Hot water heater (2021) AC (2021) as well as central vac and hydro meter that is plug in generator ready. Enjoy all the benefits of living in Port Franks with world class private beaches for the residents of Port Franks, boat launches and marina’s. The community also has a library, community center, available tennis courts, hiking trails, an abundance of wildlife and community park playground. It’s a great community for the growing family, retiree’s or those looking for a weekend escape.   Click the link to watch the virtual tour: https://www.youtube.com/watch?v=Sq7R36S6kLg Looking For An Agent Outside Of Our Coverage Area? Just Ask Us!   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 Ontario, Canada, North America, or the world for that matter because RE/MAX is global! Get Your 2024 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 Social Media   Have a great day everyone and don't forget to check out our social media sites like instagram, 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 & INSTAGRAM 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