May Flowers Are Here!
Monthly Giveaway Is $50 To
Westland Greenhouse
Welcome to May and the official start to our summer holidays with the MAY 24 weekend only one weekend away! After a cold and rainy April we have been lucky enough to get some warmth at the start of May. A glimpse of the warmer weather to come! Don't forget to smell the flowers as they start to bloom. The picture below was a gorgeous Magnolia Tree on a listing of ours so I had to give it a sniff! We hope nobody forgets this is Mother's Day weekend!! Happy Mother's Day to all the amazing Mom's reading this newsletter.
The real estate market has been an interesting one with inventory at an all time high and sales at a low making for a slower then normal spring market around our area. The Financial Post did a survey and the results were that 71% of potential buyers were waiting for one interest rate decrease before actually buying something. I am not sure if we will see an interest rate change in June like some experts predicted but time will tell!
This month we are giving away a $50 gift certificate to Westland Greenhouse! A locally family run company with one of the best social instagram accounts in the area. No jokes aside you need to go follow their instagram page today! Simply answer this question to get your name entered into the draw: Do you rent or own your hot water heater in your home currently?
We are never to busy to talk real estate so give us
a call today at 519-238-5700!
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Federal Government
Capital Gains Changes
There has been lots of talk around capital gains since the federal government increased the capital gains figures in the new federal budget! Mark Pedlar & Christopher Alexander, President of RE/MAX Canada, were interviewed for a global news article that is linked below. Ultimately we along with everyone else don't like paying more taxes! But we don't think the new tax rules are going to change secondary home ownership for many people. The current capital gains tax rate is 50% on the profit and the new legislation will make it 50% rate on the first $250,000 of profit and then 67% on the profit over $250,000. Keep in mind though that each owner gets their own allotment of $250,000 so a secondary home owned by a couple has to bring in profit of over $500,000 to ever be charged with the new 67% tax rate. The reason for this in our view is that they are wanting to help the housing issue we as a country find ourselves in. The ones that get hurt the most by this are not the flippers and renovators that buy low, put some money in and sell for a profit that raise the purchase price. It hurts the single owner that maybe is single because of a spouse passing away or it hurts the kids who have had the cottage passed down over the years and was originally purchased back in 1952 for $10,000. Here is an example to help you understand the new federal capital gains rules a little better:
Home is purchased for $250,000 … ten years later sells for $600,000
Scenario 1 … owned by one person
Profit is $350,000 … of the first $250,000 then 50% of that is taxable on the personal income … of the remaining $100,000 profit then 67% of that is taxable on your personal income.
Scenario 2 … owned by two people
Profit is $350,000 … split the profit between two people which is $175,000 … of that $175,000 profit for each owner then 50% of that is taxable on your personal income.
Ultimately what I am getting at is that the new capital gains increase for secondary homes when owned by two individuals will rarely be implemented. Would only be really implemented in the case of one owner or a generational secondary home that has been passed through the family over the years.
In addition to the one owner scenario …. When dealing with a $350,000 profit like the example … the taxable profit on the current system would be $175,000 … in the new system taxable profit would be $191,666. In the worst case scenario and the individual is making further income from their existing job so they would be in the 54% tax bracket this increase would result in a further approximately $8,000 in taxes to be paid.
We suggest everyone discuss this with their accountant to see what there impact would be if any to their financial situation.
Click the link to view the full Global News article: https://globalnews.ca/news/10457708/capital-gains-tax-changes-cottage-market/
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RE/MAX Canada 2024
Cottage Trends Report A flood of listings hasn’t hit Canada’s recreational property market this spring, and is unlikely to transpire this year, according to findings from RE/MAX Canada’s 2024 Cottage Trends Report. Despite the affordability challenges and higher interest rates that characterized the 2023 real estate market, Canada’s cottage owners are choosing to hold on to their properties in 2024 rather than selling off – a trend that’s likely influenced by the desirable quality of life alongside the prospect of future returns on recreational property ownership. Looking ahead, RE/MAX brokers and agents in Canada are anticipating an increase in recreational prices by 6.8 per cent. Meanwhile, the number of sales is expected to rise in the majority of regions analyzed (61.9 per cent), with increases ranging from three per cent upwards of 50 per cent this year. In an effort to improve the availability of housing supply, short-term rental bans have begun to materialize in some provinces across the country, while others look to introduce new measures to limit allowances. In the wake of this, the Leger survey commissioned by RE/MAX found that these restrictions have not swayed recreational property owners to sell, with 58 per cent remaining steadfast in their investment. By comparison, only 29 per cent are looking to sell, due to the inability to generate the rental income initially anticipated when they purchased their recreational property. Canadians are split on whether these policies have made buying and selling more complicated, and whether they’ll buy/sell as a result (35 per cent say they won’t; 31 per cent say they will).
Read the full article by clicking this link: https://blog.remax.ca/cabin-and-cottage-trends-canada/?rmxv=1682087900
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FINANCIAL MARKET UPDATE
With Aaron Pedlar
There are 3 certainties in life: death, tax, and the Maple Leaf’s breaking your heart.
After Saturday’s disappointing loss, my schedule has become a little more freed up. The benefit to you is that my monthly ‘Market Perspectives’ is completed and landing in your inbox in a timely fashion!
During the month of April, U.S. inflation drove markets nervousness up a notch with the S&P 500 ending five months of virtually uninterrupted ascent. Meanwhile, bonds continued their retreat as yields across the curve rose. Is a new edition of 2022 in the works? I think not. Rather this is the latest edition of the ongoing tug-of-war battle between economic data pertaining to persistently stubborn inflation and how it relates to the Federal Reserve’s next move on interest rates versus a resilient economy that continues to grow with strong corporate earnings, tight labour market and a consumer who is still spending battled on.
The underlying positive news is when we look under the hood of this persistent inflation, which is largely explained by services. It would be far more worrying if an overheated job market was still in evidence. However, it appears to be the opposite and in this month’s Market Perspectives I have some charts showing that the ‘goldilocks’ scenario where - although things are still good, they are showing signs of cooling. I believe this is a positive catalyst on the inflationary front moving forward and encouraging for investors.
Additionally, with a hint of pullback for the month I made sure to take a minute to help put ‘Volatility in Perspective’. With a close to 5% pullback we have data going back over the last 95 years to uncover how often mild corrections occur in a calendar year. Spoiler alert, its 3.4 times.
Despite the minor pullback in April, as of Fridays close the S&P 500 is still up around 7.5% YTD. What we felt in April was a minor 5% correction which is perfectly normal to shake off the bullish train following back-to-back 10% quarter gains. Also, keep in mind that as I write this today, markets in general are a stone’s throw away from all-time highs that were set earlier this year.
Thanks for taking time out of your day to become a better-informed investor. In times of volatility, or when the journey becomes bumpy as it all too often does, you can be confident that you have an investment professional in your corner who is committed to your success every step along the way.
Check out Aaron Pedlar's website and get in touch today: https://www.pedlarfinancial.com/
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BUSINESS SPOTLIGHT
Shore Line Striping & Bollards
This is a brand new company to the area but they come with a long history of getting the job done right! If you need any lines painted, parking lots, road ways and so much more they are your company to call. Servicing both residential and commercial needs! Having already completed multiple jobs in there first few months of being in business they are ready to tackle any job big or small.
Give Kalvin Thornton a call today for a quote at 519-671-9770!
Or check their website out at http://www.shorelinestripingbollards.ca
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The PEDLAR Team CMN Hike
Spring 2024 |
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The PEDLAR Team
Grand Bend Summer Sunset Concert Series
We are very proud to announce we are the title sponsor for the much beloved Summer Sunset Concert Series that takes place on Sunday evenings on the Grand Bend Rotary Club beach stage. These are some great artists that come to perform and the best part is that it is FREE for all to enjoy! Huge kudos to Glen Baillie and team that put this all together to make for a memorable time for those who attend. |
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Johnstone Built Home With Lots Of Privacy
6 Harbour Park Court, Grand Bend
Listed at $1,075,000
The enclave of Harbour Park court is one of Grand Bend’s top choices for location with a classic beach town vibe situated in a quiet cul de sac just steps to South Beach, Grand Bend’s blue flag designated marina and the downtown Main Street. Situated on the largest lot in the community, this home has great curb appeal with the interlocking brick drive, stone clad front entry, covered front porch, detached garage and landscaped gardens. The backyard offers lots of privacy, landscape lighting, huge deck for entertaining and a sizable yard with mature trees. Step inside this Johnstone built 2 story home and you’re greeted with a spacious design flowing with natural light, freshly painted in neutral colors. The main floor includes engineered bamboo flooring throughout featuring a great room with 18’ cathedral ceilings, gas fireplace and stone surround. Kitchen with granite countertops and tile backsplash. Dinette includes patio doors to the 3 season sunroom as well as the deck both overlooking the back yard. The main floor also includes a bedroom overlooking the front yard with a cheater ensuite (main floor bathroom) and main floor laundry off the kitchen. Walk upstairs and you have 3 large bedrooms and 2 full bathrooms including the primary bedroom suite with a walk-in closet and ensuite. The full basement includes a finished family room for extra living space. The downstairs also has a workshop or hobby room (that could be a 5th bedroom), roughed in 2-piece bathroom and room for storage of everyday essentials. This home has it all plus some of the items you can’t see at first glance are the green lawn all summer long from the irrigation system and the low maintenance exterior thanks to the hardie board siding and leaf filter gutter guards. Come enjoy life by the Beach with a private setting and close to all of Grand Bend’s amenities. |
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Nicely Updated Bungalow With Walkout
10160 Edmonds Blvd, Grand Bend
Listed at $849,900
Welcome to 10160 Edmonds Blvd in Grand Bend! Situated amongst mature trees on a 90’ x 180’ property. This updated bungalow offers over 2,000 sq ft of living space with a fully finished basement that allows for a walkout. Home offers great curb appeal with composite decking & railing, landscaped with large armor stone, updated exterior doors & garage doors along with new roof on both home/garage. Entrance foyer offers two double closets making lots of room for storage. Main floor open concept floor plan allows for an updated gas fireplace with stone surround and large wood beam mantle. Kitchen has been nicely updated with granite counter on island, stainless steel appliances including gas stove & tiled backsplash. The skylight along with large windows allow for an abundance of natural light throughout. Spacious primary bedroom with walk-in closet, built-in makeup desk and four piece ensuite. Main floor allows for another bedroom and two piece bathroom. Fully finished lower level also has an abundance of natural light with the walkout allowing for a wall of windows and access to back patio. This fully renovated rec room has been outfitted with a new gas fireplace & shiplap surround. Lower level allows for the third bedroom & a gorgeous three piece bathroom with walk-in glass and tiled shower. A huge BONUS in this home is the lower level kitchenette with sink and fridge. Stepping out into the back patio is a covered Canadian Spa Hot Tub with built-in speaker system. Large patio has room for patio chair and table set. The kids and grandkids will absolutely adore your home with the coolest tree house you have seen. Entering the 24’x24’ detached garage with 8’ lean-to you will see that these current owners use it as an extension of their living space. Interior includes epoxy flooring, wood trim throughout, metal accents and recently installed wood stove! Extra bonuses include the 30amp RV plug along with the self-monitored hard wired Night Owl Security System.
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Newer Bungalow On 5 AC Parcel
8612 Goosemarsh Line, Lambton Shores
Listed at $950,000
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| Rare find in Lambton Shores a 5 acre oasis across the road from the Pinery Provincial Park just south of Grand Bend. Nestled at the end of a winding lane way through the mature treed setting you have the picture perfect bungalow home with vinyl siding, covered front porch, oversized double car garage and landscaped gardens. Surrounded by privacy on a 5 acre treed setting with a gravel driveway leading to an opening in the tree line for natural light throughout the home and ample yard space. Inside, you have a family room overlooking the front gardens with hardwood flooring and large picture window. The kitchen space includes an eating area, pantry, wood cabinetry, matching black stainless steel GE appliances and a picture window over the sink looking into the back yard. At the back of the home you have the family room with cathedral ceilings, large windows and patio doors leading to the back covered porch. 3 good sized bedrooms on the main floor including the Primary with his and her closets. 2 full bathrooms. Mud room with laundry off the 29’ x 25’ heated double car garage. Full lower level is all drywalled and could be finished off with more living space or great for storage and a workshop. Walk around the exterior of the home and you have the spacious back patio, partially covered, overlooking the back yard with a nice garden shed for all the lawn tools. Find out what living with nature truly feels like with this private oasis today. | | | |
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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! |
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Get Your 2024 Grand Bend Locals Card! Support Local With Your GRAND BEND Locals CardIt 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/ |
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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/ |
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