The Property Pedlar Blog

London St. Thomas Association of Realtors Awards the Don Smith Buiding Awards

2012-02-08T10:29:00.000-08:00

The winners of the Don Smith Commercial Building Awards, established by the Regional Commercial Council (RCC) of the London and St. Thomas Association of REALTORS® (LSTAR) and sponsored by D&H, CBRE, TD Commercial Banking and Honeywell Building Solutions, were announced on February 7 to a capacity crowd at the London Club. According to Greg Harris, RCC Chair, the awards program was established, “to recognize, reward and celebrate excellence and innovation in commercial building right here at home.” The program was named after Don Smith, legendary co-founder of Ellis Don, a world-renowned construction company with London roots.

The 18 entrants to the competition were judged on how environmentally sensitive the individual buildings were; on design and innovation; and on the extent to which they met a specific developmental need within the broader community.
This was a great event that I got to attend as the President Elect for the London St. Thomas Association of Realtors. It was well attended and the Regional council did a great job selecting these outstanding buildings in the London area.

London New Home Starts Higher

2012-01-10T08:29:00.000-08:00

LONDON, January 10, 2012 New home starts were up in the London Census Metropolitan Area in December according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). However, in the year ending December 2011, single-detached home starts were down nearly twenty per cent compared to 2010.
“Single-detached housing starts have been gradually increasing over the last few months on a seasonally adjusted basis,” said Margot Stevenson, CMHC’s Senior Market Analyst. “The strength in both the single-detached and townhouse segments indicates new residential construction ended the year on a positive note,” added Stevenson.

2011 was another great year selling real estate

2012-01-05T12:49:00.000-08:00

Just completing my records for 2011 and found that sales ended up very similar to last years! The number of sales were identical to 2010 but the number of listings taken, was up 40%, from 48 to 68 this year. We had more upper end sales this year and with the increase in listings there is more inventory available. Most of 2010 was a balanced market and prices should level off this coming year with the extra listings now on the market. Our average price for this year with the residential market in our office, was $234,200, which is in line with the London area as well. Wishing you and your families all the best for 2012.

Market Stable in 2011

2012-01-03T12:36:00.000-08:00

The London St. Thomas Association of realtors reported that 2011 proved a solid year for real estate sales, with 8,048 homes exchanging hands over its twelve-month course -- just 1% down from the previous year. “It was a little slow coming out of the gate, but in the end we finished strong, despite concern over the extent to which global economic worries would impact us locally,” says Jack Lane, LSTAR President for 2011. “December delivered a strong performance as well, with 384 sales, just 0.8% down from the previous December. “We are especially pleased by how well St. Thomas did in 2011,” observes Lane. “Its sales were up 3% over last year’s and its average price rose to $189,413, up 3.7%.”

The average price for a detached home in LSTAR’s jurisdiction at Year End stands at $244,430, up 5.3% from January 2011. The average price for a condo stands at $179,560 year end, down 3.4% from January 2011. Homes in LSTAR’s jurisdiction continue to maintain their affordability compared to other major Ontario and Canadian centres.

Home sales, prices climb in November says CREA.

2011-12-15T09:04:00.000-08:00

The Canadian Real Estate Association says November sales of resale homes rose 6 per cent, while prices added 4.6 per cent year over year. The national body says seasonally adjusted sales were also up 0.5 per cent from October. It was the third straight month that national activity was up from the month before.
The national average price increased 4.6 per cent year over year to $360,396, the smallest jump since January. The number of newly listed homes was down 3.4 per cent from October to November.

REALTORS® and OPP launch Realty Watch

2011-12-09T09:09:00.000-08:00

The London and St. Thomas Association of REALTORS® (LSTAR) and the Ontario Provincial Police have launched a new community policing program– Realty Watch.
“The program has two components,” says Sgt. Steve Montpetit, O.P.P. Provincial AMBER Alert Coordinator. “The first has to do with reporting suspicious activity. REALTORS® can report either directly to the police or through Crime Stoppers any suspicious activity they observe in the course of their day-to-day business . . . and that’s potentially very useful when you consider how much crime takes place during the day when people are away at work.”
“The second component of the Realty Watch Program has to do with responding to alerts,” Montpetit continues . “Both AMBER alerts, which go out in the case of child abduction cases , but other alerts as well, such as those that go out when people with a medical condition go missing. LSTAR has over 1,500 Members spread out over three counties linked together through an association-wide, internet-based communications system that allows them to receive alerts immediately. From a police perspective, that’s a lot of eyes on the ground.”
“Realty Watch is a concrete way REALTORS® can help improve the Quality of Life in our community,” says Jack Lane, LSTAR President. “In the course of doing our business, we’re out and about in neighbourhoods at all times of the day and night; provided we know what to look for, we might be able to provide useful information to the police, and that’s what Realty Watch is all about. As for the alerts, the broader the net the police can cast, the more likely we are to find people in trouble before it’s too late. “
Realty Watch was kicked off with an intensive training session, taught by Sgt. Montpetit and Sgt. Monica Harris, O.P.P. Provincial Crime Stoppers Coordinator and attended by over 134 REALTORS. Both Mark and myself attended this training session at the Real Estate Board.

RE/MAX Market Outlook report says the Market will be balanced in 2012

2011-12-08T09:56:00.000-08:00

Mississauga, ON (December 6, 2011) - Canadian residential real estate defied conventional logic and outperformed expectations in 2011, posting another solid year of housing activity virtually across the board. The trend is expected to carry forward into 2012 as Canadians continue to demonstrate their faith in home ownership, despite concerns over the European debt crisis and its impact on the global economy, according to a report released by RE/MAX.
The RE/MAX Housing Market Outlook 2012 examined trends and developments in 26 major markets across the country. Eighty-eight per cent (23/26) anticipated average price increases by year-end 2011 - with percentage hikes ranging from one to 16 per cent. The forecast for 2012 shows the upward trend moderating, but still ahead of 2011 figures. Overall home sales are expected to remain on par or ahead of last year's levels in 85 per cent (22/26) of markets in 2011 - including Saskatoon with a year-over-year percentage increase of 13 per cent and an eight per cent uptick in Calgary, Winnipeg, Hamilton-Burlington and Sudbury. Almost half of Canadian markets will match the 2011 performance, while the remainder should post increases ranging from one to five per cent next year.

London Condo Starts up this month!

2011-12-08T07:45:00.000-08:00

LONDON, December 8, 2011 - New home starts were up in the London Census Metropolitan Area
(CMA) in November according to preliminary figures released today by Canada Mortgage and
Housing Corporation (CMHC). Builders laid foundations for 130 homes compared to 105 in November
2010.“Increased demand for townhomes homes raised new construction levels last month. Townhomes
offer a convenient lifestyle and are a more affordable option for buyers who want a new rather than an
existing home,” said Margot Stevenson, CMHC’s Senior Market Analyst.
Year-to-date, builders have started 1,082 single-detached homes compared to 1,388 in the first 11
months of 2010. Total starts are 19 per cent below last year for the same period.
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help
Canadians access a variety of high quality, environmentally sustainable and affordable housing
solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and
knowledge to support and assist consumers and the housing industry in making informed decisions.

The Condo Market is soft!

2011-12-04T11:42:00.000-08:00

Home sales in November 2011 dipped 7.1%, due in large part to a drop in condo sales. “Sales of detached homes were down only a marginal 1.8% from the previous November,” says Jack Lane, President of the London and St. Thomas Association of REALTORS®. “It was the condo market that was soft. Bear in mind, however, that condo sales for November 2010 were up 16.2% over November 2009, so the bar was set pretty high. The good news for condo sellers heading into an early Spring market is that there will be pent-up demand; the good news for buyers interested in condos is that there will be plenty of supply at a very reasonable price.” Overall Year-to-Date sales of all house types are down a modest 1.1% from last year. Listings were up 1.6% in November, at month-end the Association’s inventory of listings stood at 3,414, and the average price for a home (including condo sales) in the Association’s jurisdiction stands at $234,602, up 0.2% from the previous month. The year to day average price now stands at $232,819 which is up 4.1% over January 2011.
The news from St. Thomas was very positive. Fifty homes sold in London’s Sister City in November, up 22% from November 2010. The average price for a home in St. Thomas Year to Date stands at $185,303.

U.S. new home sales increase by 1.3% in October

2011-11-28T08:33:00.000-08:00

According to the Economics Department of RBC, sales of new single-family homes in the U.S. increased by 1.3% to a seasonally-adjusted annualized rate of 307K in October, from September’s pace of 303K (initially reported as 313K.) Market expectations going into the report were for a pace of 313K, which would have represented a flat reading based on the initially reported pace for September. October’s increase in the pace of home sales follows a 3.4% increase last month, and represents the fastest pace of sales since May. Increased sales activity combined with an unchanged number of new homes available for sale to push months’ supply of unsold home down to 6.3 from the 6.4 seen in September (initially reported as 6.2.)

We were at the NAR Conference in Anaheim California

2011-11-21T06:33:00.000-08:00

Record dollars invested into the Canadian Housing industry

2011-11-07T09:17:00.000-08:00

Billions spent in new construction, renovation, and infill over the past decade have contributed to a serious upswing in the calibre of Canada's housing stock, propping up residential average price in the country's major centres.
Since 2000, the value of a Canadian home has doubled, rising from $163,951 to $339,030 in 2010. Nowhere has the upswing been better captured than in both the value of residential building permits issued nationally between 2000 and 2010 - at $340 billion - and the estimated $450 billion spent in renovation. The impact of these two forces alone has fuelled the Canadian residential real estate market - as well as the construction industry - for more than 10 years.
As a result, investment in Canada's housing stock is at an all-time high in the 16 Canadian residential real estate markets examined in the RE/MAX Housing Evolution Report. Higher quality housing translated into extraordinary price appreciation across the country - with 62 per cent (10 markets) experiencing increases in excess of 100 per cent since 2000.

Market stays the course!

2011-11-02T06:57:00.000-07:00

The London St. Thomas Association of Realtors reported that Overall home sales in October 2011 were up 3% over the previous year. “The condo market was a little soft this month,” says Jack Lane, President of the London and St. Thomas Association of REALTORS®. “However, the more significant statistic to look at is the Year to Date figure, which shows condos down less than one percent from last year. In fact, total sales Year to Date are down a very marginal 0.6% from last year, so the bottom line is this: real estate in our jurisdiction is absolutely staying the course . . . and that’s good news when you consider the fact that our Year to Date sales at the end of January 2011 were down 9.3%.”

Listings were up 1.3% in October, at month-end the Association’s inventory of listings stood at 3,678, up 7.7% over last year at this time, and, the average price for a home (including condo sales) in the Association’s jurisdiction stands at $232,714, up 1% from the previous month and 4% up from January 2011. “What these stats tell us is that the market is both a balanced one – good for Buyers and Sellers,” Lane explains, “and one that offers buyers a great deal of choice, both in terms of price and style of home. Given interest rates that continue historically low and our area’s great affordability compared to other centres, it’s a good time for renters to consider a move into homeownership.”

Doug and Mark at the REMAX Fall Connect

2011-10-18T11:19:00.000-07:00

We made it to Mississauga in late Sept. to the RE/MAX Fall Connect. We took real estate courses the first day and Mark was able to see the speakers the second day. Great event and a good turnout for RE/MAX. Got our pictures taken with the RE/MAX dragster out of Stratford, and they just posted them on the website.

Canadian home sales pick up in September

2011-10-17T08:47:00.000-07:00

According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity picked up in September 2011.
Sales activity rose 2.7 per cent in September from the previous month.
Holding in line with the ten-year average, activity during the first nine months of this year pulled ahead of sales over the same period last year.
· The number of newly listed homes held steady when compared to the previous month.
· The national housing market tightened in September from the month before, but remains firmly entrenched in balanced territory.
· The national average price posted the smallest year-over-year increase since January.
National sales activity rose 2.7 per cent in September when compared to August, and follows three months of stable activity. September’s increase reflects strengthened activity in a number of major markets, led by Toronto. The monthly increase pushed national sales to its highest level since recently tightened mortgage regulations dampened sales earlier this year.

Fall is here in Colour!

2011-10-10T09:36:00.000-07:00

Thanksgiving was with the Pedlar family in Fordwich, near Listowel where the maples have turned a bright yellow already. So you don't need to go north to see the colours any nicer than right here at home!.....

The Harvest is here in Huron County

2011-10-10T09:28:00.000-07:00

With Thanksgiving upon us it was nice to see the farmers getting their soybeans off with this great weather on the weekend here in Grand Bend.

Market continues to rebound!

2011-10-08T08:38:00.000-07:00

The London Free Press reported that after a slow start, the London-St. Thomas real estate market continues to rebound this year. Year-to-date sales have almost caught up to 2010. The London-St. Thomas Association of Realtors (LSTAR) said 702 homes sold in September, up 19.2% over the same month last year. The sales include 589 detached homes and 113 condos. So far this year, 6,512 homes have sold, slightly below the 6,567 sold in the same period last year. Real estate sales in London-St. Thomas were down as much as 15% in the spring compared to 2010, but the market started to turn around in June. "We had a bit of a slow start in 2011, but we're definitely on the right track now . . . and we expect this positive trend to continue." said LSTAR president Jack Lane. The number of active listings was also up 9% in September. "We're absolutely in a balanced market these days," said Lane, "which means a level playing field for both buyers and sellers."

Another nephew gets married!

2011-09-23T14:32:00.000-07:00

My nephew Adam Samela married his sweetheart Kim at the Pineknott Golf Course in Dorchester. All the Pedlar boys made it to the event and it was a great party!

Higher prices for farmland, says RE/MAX Report

2011-09-13T08:33:00.000-07:00

Rising agricultural commodity values and tight inventory levels have seriously contributed to a significant upswing in the price of Ontario farmland in 2011, according to a report released by RE/MAX Ontario-Atlantic Canada.
The The RE/MAX Market Trends Report – Farm Edition 2011 found that shortages exist in the vast majority of centres studied, with pent-up demand fuelling unprecedented momentum virtually across the province. Upward pressure on acreage values has been consistent as a result. Of the 12 major agricultural communities examined, 11 (92 per cent) reported tight inventory levels, while nine (75 per cent) noted an increase in price per acre. Despite the current volatility in commodity prices, the long-term prospects for the agricultural industry continue to be bolstered by global realities, including population growth, an international grain shortage and decreased availability of quality farmland from a worldwide perspective. The average farmland price per acre in our immediate area is in the $8,000 - $10,000 per acre range.

The London area market heats up in August

2011-09-06T07:15:00.000-07:00

The London Free Press reported that home sales in the London and St Thomas area heated up in August, jumping 21.7% compared with the same month last year. The London-St Thomas Association of Realtors said 763 homes sold last month: 620 detached homes and 143 condos. Association president Jack Lane said August sales were above the long-term average of 753 sales for the month. More sellers entered the market; the number of active listings was up 9.8% by month’s end. The market is balanced between buyers and sellers despite the jump in listings, Lane said. “Homes may stay on the market a little longer than they have previously, but the good news is that things are definitely moving.” After a slow winter and spring, the local real estate market has been on the rebound since June. Year-to-date sales are still 2.9 % below January to August last year, but Lane said there’s time to make up the gap. The average sale price for a detached home in August was $237,285, up 1.2% from July.
Most of the Realtors in the Grand Bend area are members of the London and St. Thomas Association of Realtors.

Tornado in Goderich leaves the town a mess

2011-08-26T13:23:00.000-07:00

These are some of the pictures from the after mass of the Tornado.

Flint Car Show and the Woodward Cruise in Detroit

2011-08-26T13:19:00.000-07:00

Finally made it to the Woodward Dream Cruise in Detroit last Sat. on the 20th. But before we got to Detroit we had to stop into Flint to go to their "Back to the Bricks" car show, which was even better than the Dream Cruise.

St. Jacobs Market Day with Jeannette

2011-08-26T13:04:00.000-07:00

Jeannette and I spent last Tuesday in the St. Jacobs area for our anniversary. What a great place to wonder around and you don't have to drive to Shipshiwana Indiana to see the flea market, garden market and the antiques.

Spent the day in Bayfield with Jeannette for our 29th Anniversary!

2011-08-15T08:35:00.000-07:00

We had a great day in Bayfield shopping and checking out all the shops along the Main Street. The town is certainly changing over the years with new and renovated buildings all along the Main St.

The Long Weekend has been Hot at the beach

2011-08-01T10:12:00.000-07:00

What a great weekend we are having and the beaches have been packed to say the least. Holiday time at the cottage in Port Franks and we are enjoying fun at the beach as well!

Legacy Centre Grand Opening in Thedford

2011-07-26T11:33:00.000-07:00

Jeannette and I attended the Grand Opening of the Legacy Centre last Sat. July 23rd and what a great place this is going to be for Lambton Shores and the Thedford area. The ice surface of the original arena is still there, but that is all! With new dressing rooms, viewing area and glass around the rink, it looks like a new place. Plus there is the Library, Children's Daycare Centre and the new hall, which should become the meeting place, for the area. There was a great turnout for the opening and even though the power went out because of the tornado, the new generator kept everything happening. Hope you are able to enjoy the Centre yourself this coming year. (Lynda Hillman-Rapley from the Advance supplied the photo)

Golfing in the Heat at Camlachie

2011-07-25T13:02:00.000-07:00

Our Real Estate Board from London (LSTAR), was invited to the Sarnia Real Estate Boards golf tournament last Thursday on the hottest day of the year, July 21st and it was like "HOT". Gerry Weir and Greg Harris from LSTAR helped us get through the day and we drank a lot of water!

The Wheat is being Harvested here in Southwestern Ontario

2011-07-25T12:55:00.000-07:00

Summer is really here when the winter wheat is harvested. This is just north of Grand Bend along Highway 21 and as you can see the crop is off and from what I have heard, this could be a bumper crop.

Not So Pro Beach Vollyball in Grand Bend

2011-07-25T07:14:00.000-07:00

Another great weekend here in Grand Bend with the Vollyball on the Beach. There were lots of teams and fun on the beach as you can see. The "RE/MAX" team didn't do so well as Mark and Garrett and their freinds got a good suntan but didn't win too many games. Nice to see lots of things to keep everyone busy this summer, and the weather was perfect.

There are Deer in Grand Bend

2011-07-15T11:56:00.001-07:00

Just listed this property in Grand Bend and as we were taking photos this deer was watching us, wondering what we were doing!

Consumer Credit Slowing in Canada says CIBC

2011-07-15T11:29:00.000-07:00

CBC News ...Canada's household credit is on pace to grow at its slowest rate in a decade, according to a new report released Thursday. CIBC Economics estimates that Canadians will add approximately four per cent to their outstanding debt - all from new mortgages - in 2011. If correct, that would be smallest rise in personal borrowings since 2002, according to CIBC economist Benjamin Tal and the author of the report.
"In fact, inflation-adjusted non-mortgage consumer credit is now rising at the slowest pace since the early 1990s," Tal wrote. That trend would be welcome news for the Bank of Canada. In the recent past, Bank Governor Mark Carney has publicly warned Canadians about the threat from building up too much individual debt, especially if interest rates rise late in 2011 to reduce inflation. Tal calculated that the slowdown in national consumer credit has been driven by Canadians opening fewer lines of credit, up only six per cent. That is the smallest increase on record. As well, growth in outstanding credit cards has been minimal, Tal reported, up less than one per cent in the year. Here, new limits imposed on borrowers by the card companies have crimped any debt increase in this area. The one growth area - home mortgages - is where accumulated debt is rising at a 1.8 per cent clip, or twice as fast as individual income growth, which stood at 0.9 per cent during the same period. But, rising mortgage debt was mitigated by the concurrent rise in the value of assets held by Canadians, according to the CIBC. That means the worth of an individual's house and that person's stock and bond portfolio is increasing at approximately the same pace as his or her mortgage debt is growing. "While debt is still rising faster than income, it is not rising faster than assets. The net worth position of Canadians has improved in the first quarter in absolute terms and relative to income," Tal said

REAL ESTATE SALES REBOUND IN JUNE

2011-07-12T10:50:00.000-07:00

Nine hundred and thirteen homes exchanged hands in June: 741 detached homes, up 12.3%, and 172 condos, up 10.3%. "It's the best month this year and right in line with pre-Recession levels," says Jack Lane, the President of the London and St. Thomas Association of REALTORS®. "The market is definitely heading in the right direction." Residential listings taken last month numbered 1,746, up by 11.2%. "The uptick in listings is just further proof, that we are in a balanced market, one that’s good for buyers and sellers alike," says Lane. London was not the only City to have a good June. St. Thomas’s sales were up by 15.9% and its average house price Year to Date came in at $187,019, up 2.8%. This month, as in previous months and years, homes in LSTAR’s jurisdiction maintain their affordability compared to other major Ontario and Canadian centers.

Housing Market is Hot, Hot, Hot

2011-07-07T08:37:00.000-07:00

The London Free Press reported that after a chilly spring, the London area real estate market started to heat up in June with a 12% jump in sales compared with the same month last year. The London St. Thomas Association of Realtors (LSTAR) said Tuesday 913 homes sold last month. The breakdown was 741 single-family homes and 172 condos. June was the first month this year when sales topped 2010 levels. “It’s the best month this year and right in line with pre-recession levels. The market is definitely heading in the right direction,” LSTAR president Jack Lane said. Lane said he expects the improvement to continue in the second half of the year. “I think the rest of the year will be consistent — a nice steady marketplace.”

Freddie Mac: Better Days Ahead in Housing in the US.

2011-06-29T08:06:00.000-07:00

Freddie Mac’s chief economist is optimistic that the housing market and economy in the States will improve in the second half of 2011, reports NAR's Realtor Magazine. Freddie Mac Chief Economist Frank Nothaft said mortgage rates will likely remain historical lows of between 4.5 percent and 5 percent for the remainder of the year. Also, he expects more buyers to stop waiting on the sidelines as recent price drops in home prices have improved affordability. Nothaft said consumers’ uncertainty about the economy has caused them to delay home purchases and other “big-ticket items.” "Some potential buyers who have the means to buy are awaiting clearer signs that home values have firmed," Nothaft says. But Nothaft says they should be getting their signs in the second half of the year, with projected job gains, and a growing, improved economy. "Even though near-term concerns over income and sales growth are restraining consumer spending, business hiring, and new building, a number of positive signs in the economy indicate that growth will continue and is likely to accelerate in the second half of this year," Nothaft said. "Look for a gradual improvement in housing activity in the coming year.”

Tom Ferry sales power training today

2011-06-27T09:41:00.000-07:00

Getting more training on social websites here in Mississauga. Great info and looking forward to keeping in touch.

REMAX Recreational Report 2011

2011-06-16T08:01:00.000-07:00

Mississauga, ON (June 13, 2011) - Canada's recreational property market is gaining serious traction as savvy purchasers take advantage of ideal conditions, setting the stage for what is expected to be the best market in recent years, according to a report released today by RE/MAX.
The 2011 RE/MAX Recreational Property Report , examining sales and trends in 46 markets across the country, found that substantial equity gains and recovering stock portfolios in major centres have contributed to an upswing in demand from coast to coast. Demand rose in 78 per cent of markets, while sales were up or on par in 41 per cent of recreational centres. Inclement weather, including a late thaw and an abundance of precipitation, resulted in a slow start in many areas, but should be offset by stronger peak season activity. While starting prices have remained relatively stable across the board, there are deals to be had in virtually every region - especially at the top end. Luxury sales, as a result, have climbed in at least half the markets examined. Inventory levels are healthy throughout the country, although there has been some tightening reported at entry-level price points in about one-third of markets. Some of the best selection of product in recent years is now available.

New RE/MAX Curbside Marketing is now working

2011-05-24T09:32:00.000-07:00

RE/MAX has just brought out "Curbside Marketing", which allows buyers to view properties instantly right on their phone. Price, description and the actual listing will come up on your phone, complete with pictures. Just TEXT the unique number on the sign, (try 25120) to 58888 for instant property information and if you have a smart phone you can get a link to photos and virtual tours, on my mobile website. Try it and if your in the area watch for the RE/MAX curbside marketing signs.

Demand for luxury homes intensifies amid rising Canadian and global wealth

2011-05-18T07:25:00.000-07:00

Improved financial standing among high net worth individuals is the major factor driving strong sales activity at the top end of Canadian housing markets, according to a report released today by RE/MAX.
RE/MAX Ontario-Atlantic Canada and RE/MAX of Western Canada examined 12 major centres from coast-to-coast and found that luxury sales have surged in close to two-thirds of housing markets between January 1 and April 30 of this year, compared to the same period in 2010. Leading in terms of percentage increases over the four-month period were Greater Vancouver (118 per cent) - where foreign investment has also played a major role - Ottawa (59 per cent), Calgary (51 per cent), Halifax-Dartmouth (27 per cent), Winnipeg (24 per cent), Hamilton-Burlington (13 per cent) and Greater Toronto (nine per cent). Six of the seven major cities - with the exception of Calgary - are poised to set new records in top-end activity by year-end. Several are just short of peak levels reported in 2010, such as Victoria, Regina, and London-St. Thomas.

National Sales Soften

2011-05-17T09:25:00.000-07:00

Statistics released today by The Canadian Real Estate Association (CREA), reveal that national resale housing activity softened in April when compared to March 2011. Seasonally adjusted national home sales activity was down 4.4 per cent in April 2011 compared to the previous month. As expected, declines were largest in some of Canada’s more expensive and active markets, including Toronto, Vancouver, and the Fraser Valley.

Moving into Townsend Meadows

2011-05-15T18:42:00.000-07:00

Loreen Collins receives the keys to her unit in Townsend Meadows from Jeannine Campbell. Loreen is moving from her lakefront home in Lake Valley Grove to her new unit in Block One and is excited about moving into the community.

Recreational Property Report from RE/MAX is on it's way!

2011-05-12T09:44:00.000-07:00

Just finished talking to Eva Blay, from Point Blank Communications today regarding the first 4 months of activity here in the Grand Bend area. The full RE/MAX Recreational Report will be out in June but with over 50 areas reporting, Eva has to start now to collect the information. Our first 4 months has been slower with the snowy weather we have been having here in Southwestern Ontario, but as soon as the sun is out and the election is over I would expect our numbers will be comparable to last years for listings and sales. Sales so far are somewhat slower by 15% but the listings are up 30%, so there is a good supply of inventory now available. The starting price for a typical 3 bedroom winterized property is now $475,000, up from $425,000 last year with the highest sale of a lakefront in the past 6 months, over $1.5 million. We are expecting the market to get considerably better in the next 6 weeks as long as the rain stops and the farmers are happy campers!

Weather Dampens Real Estates Sales for April

2011-05-10T08:38:00.000-07:00

The London Free Press reported that the cool, gloomy spring weather helped dampen the real estate market in the London area last month. The London and St. Thomas Association of Realtors (LSTAR) said 750 homes sold in April including 619 detached homes and 131 condos, 23.6% below the sales in the same month last year. LSTAR president Jack Lane noted that April 2010 set a sales record for the month and this years April sales were close to the long-term average. 'When you factor in the persistently poor weather that has plagued our region over the last few months, I think 2011 sales point to a healthy, vibrant market. I predict by year's end, our numbers will be down only marginally from those of 2010,' said Lane. The average price for all homes sold in the area jumped 5.5% last month to $242,111.

Detached-Home Starts leveling off in London

2011-05-10T08:32:00.000-07:00

LONDON, May 9, 2011 New home starts were lower in the London Census Metropolitan Area1 (CMA) in April according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). Builders laid foundations for 133 homes compared to 224 in April 2010. “While total new home construction in the London CMA moved lower, detached home starts leveled off,” said David Lan CMHC’s Senior Market Analyst for the London CMA. “On a year-over year basis, detached home starts were down by nine per cent in April compared to the 46 per cent in March 2011. Contrary to the trend elsewhere, starts were up in St.Thomas” added Lan.

First Time Buyers getting ahead of the Higher Interest Rates

2011-04-18T10:05:00.000-07:00

Driven by the threat of higher interest rates down the road, first-time buyers are contributing to strong upward momentum in residential housing markets across the country, according to a report released by RE/MAX. The RE/MAX First-Time Buyers Report , highlighting trends and developments in nineteen major Canadian centres, found that low interest rates and balanced market conditions have provided significant impetus in 2011, particularly at lower price points. Just over 30 per cent of markets are reporting sales in excess of 2010 levels as a result, while almost 70 per cent have experienced an upswing in average price. Leading the country in terms of percentage increases in the number of homes sold are Western Canadian markets, including Saskatoon (up close to 15 per cent), Greater Vancouver (up close to 12 per cent), and Winnipeg (up just over 11 per cent). With an average price hike of close to 20 per cent year-to-date (February), Greater Vancouver continues to show unprecedented strength, followed by Hamilton-Burlington (eight per cent), Quebec City (seven per cent), Winnipeg (close to seven per cent), Greater Toronto (five per cent), and Greater Montreal (five per cent).

March Sales are Warming up!

2011-04-06T06:51:00.000-07:00

The London Free Press just released this article about the London Market, saying the area real estate market showed some signs of improvement last month after a chilly winter. The London and St. Thomas Association of Realtors (LSTAR) said 647 detached homes and 162 condos sold last month for a total of 809. That's still down 5.8% from the same month last year but is an improvement over the last three months when sales were down 9-13% LSTAR president Jack Lane called the March numbers "solid." "Considering how much miserable weather we had in March, I think these numbers speak to the strength of our market and I expect this positive trend to continue throughout the year," he said. Lane noted the number of sales was just below the ten-year average sales for March of 813 homes.

Down in the Big Smoke of Hogtown for OREA

2011-03-04T07:19:00.000-08:00

The OREA Assembly was at the Harborcastle Hotel in Toronto and it was very exciting with the election of the new board of Directors for Ontario. All the Real Estate Boards in Ontario were represented with their voting delegates, plus other real estate agents that came to observe the proceedings, hear the delegates and be educated as well. This was a great opportunity to see how our provincial association was run and to meet the agents that volunteer their time to do this. This was the view out the window of my room, but you can't tell how cold it was.

Busy Month of March for me!

2011-02-26T08:05:00.000-08:00

With spring just around the corner, it is getting busier and the Real Estate Board is keeping me busy as well. OREA meetings are in Toronto this week, where we get to vote for our southwestern Ontario Representative, on the Ontario Real Estate Association (OREA) Board of Directors. Joe Hough, from my real estate board, the London and St.Thomas Association of Realtors (LSTAR), is running so I wish him luck with the election. I get to vote at this meeting as I am the Vice President of LSTAR, so that should be interesting meeting all the candidates from across Ontario that will be at the meeting.

London St. Thomas Board of Directors for 2010

2011-02-22T11:00:00.000-08:00

This is a photo of the 2010 Board of Directors for LSTAR. Great group of professionals that I got to work with this past year at the real estate board in London. I will miss some of them, but then again there is a new Board of Directors for 2011 and I get to meet more wonderful real estate agents that care about real estate and their profession

Made it up skiing...

2011-02-15T10:57:00.000-08:00

If only Grand Bend had a ski hill, we would be in heaven here! But at this point in time there are not any volcanoes or major fault shifts that would create a mountain, so we have to go to Collingwood. Here I am with Mark and Garrett trying to keep warm on a cold day....note the smiles on our faces though.

Home Sales still steady in January

2011-02-09T11:16:00.000-08:00

The London St. Thomas Association of Realtors reported that in the first month of 2011, 428 homes exchanged hands, down 9.3% from the previous year.
“The ten year average for January sales stands at 458,” explains LSTAR President Jack Lane.
“So, while this month’s figures are nothing to get excited about, they are also nothing to be
concerned about. Slow and steady wins the race.” This month, as in previous months and years, homes in LSTAR’s jurisdiction maintain their affordability compared to other major Ontario and Canadian centers.

Winter is quiet time along the Ausable River

2011-02-07T07:30:00.000-08:00

With all the activity going on around town this past weekend it was quiet down by the river with the snow piling up and not a lot of boat traffic!

Winter Carnival here in Grand Bend

2011-02-06T14:39:00.000-08:00

The weather was perfect for the Winter Carnival here in Grand Bend. These pictures show some of the snow carvings along the Main Street. Everyone had alot of fun in the snow.

Mud Creek Cottage only steps to the Beach

2011-02-06T14:23:00.000-08:00

Just listed this great lake view cottage in Port Franks on Mud Creek Road. Only a short walk to the sandy beaches of Lake Huron this 3 bedroom year round retreat features a 100' x 160' private treed lot, central gas heating with air conditioning, vaulted ceilings, gas fireplace and 4 appliances. This is the view off the front deck with Mud Creek out the front door.

Home Sales Down according to CREA

2011-01-15T11:06:00.000-08:00

The Canadian Real Estate Association just reported that home sales across Canada dropped 3.9% in 2010, less than the forecast, on stronger than expected activity in the forth quarter. Some 447,010 homes traded hands over the mls system in 2010. The annual average price for a home in Canada rose 5.8% to $339,030. CREA predicts the market to be stable in 2011, with prices starting to plateau in some of Canada's most active market areas.

Home sales stay the course in 2010

2011-01-03T09:35:00.000-08:00

By Year End, 2010 had managed to outstrip 2009 by a modest 0.7% in terms of sales. A total of 8,128 homes exchanged hands in 2010 – 6,587 detached homes (up 0.4%) and 1,541 condos (up 2.1%), putting sales for last year on par with those of 2002 and 2003. “Both of those years were banner years for real estate,” says Richard Thyssen, 2010 President of the London and St. Thomas Association of REALTORS®. “Our Census Metropolitan Area took a hit with the Great Recession, but we bounced back. Holding our own over the past year is evidence that the sort of market stabilization that both the Canadian Real Estate Association and Canada Mortgage and Housing Corporation forecast in the autumn of 2010 is, indeed, taking place. “
A total of 381 homes exchanged hands last December – 301 detached homes and 80 condos, down 14.7% and 5.9% respectively from December 2009. However, to put these figures into perspective, December 2009 had the distinction of being the best December on record with 438 sales. “We were just coming out of the downturn,” explains Thyssen. “There was a lot of pent up demand that got met in December 2009, which accounts for the unusually high volume of sales.” The average number of sales during December over the past decade stands at 379. The average price for a home in the Association’s jurisdiction in 2010 rose 6.3% for detached homes to stand at $240,147, 7.9% for condos to stand at $171,098 , and 6.4% for total residential to stand at $227.056. The average sale price is calculated based on the total dollar

Merry Christmas

2010-12-25T06:02:00.000-08:00

Hope everyone is having a Merry Christmas, from all of us at RE/MAX Bluewater and the Pedlar Family!

REALTORS Assist Local Charities

2010-12-17T08:18:00.000-08:00

Two local agencies were the big winners today when London and St. Thomas Association of REALTORS® President Richard Thyssen announced the successful applicants for the 2010 round of grants from the REALTORS Care Foundation (RCF). London’s Unity Project for the Relief of Homelessness received a cheque for $6,620 towards the restoration of the shelter’s heritage porch and Ontario Block Parent® Program Inc. will receive one for $3,000 for an educational safety resource for young children called “WHO r u REALLY TALKING 2,” as well as child safety overall. On hand to receive the Unity Project’s cheque were Silvia Langer, Development Manager, and Chuck Lazenby, General Manager, of the Unity Project.
“The RCF acts on behalf of Ontario REALTORS® in funding shelter-related charities across the province,” explains Betty Doré, LSTAR’s Executive Vice-President and this year’s Foundation Board Chair. “Since 1999, we have given more than $2-million in grants to eligible organizations.”
“We’re very proud of the great work our Foundation does,” says Thyssen. “It’s one of the ways we can give back to our community . . . that we can improve our area’s quality of life. Occasions like this, when we can help committed agencies and organizations like Block Parents and the Unity Project reach their goals, are very gratifying, particularly in this holiday season.”
The Unity Project was in for one more surprise – a second cheque for $ 13,479.16 raised by LSTAR’s annual Christmas Party. “We continue to be impressed at what a positive impact the Unity Project has both at street level and in the broader community,” says Thyssen. “ It is deserving of support.”

RE/MAX Housing Market Outlook Report

2010-12-16T07:45:00.000-08:00

Residential values expected to climb further in 2011 as housing sales stabilize in most major centres, says RE/MAX. Although improved economic fundamentals will have a positive impact on Canadian housing markets moving forward, the forecast for residential real estate sales remains static in most major centres in 2011, according to the RE/MAX Housing Market Outlook Report released today by RE/MAX.

"In terms of resale housing activity, what many are talking about as the new normal is actually a return to the traditional real estate cycle ," says Michael Polzler, Executive Vice President, Regional Director, RE/MAX Ontario-Atlantic Canada. "The past decade was truly unprecedented-never before have we experienced a run up that was as strong or lasted as long. As we have digressed from the typical pattern, people have forgotten what the usual healthy cycle looks like, but all the hallmarks are there. Ample inventory levels, steady demand, and moderate growth, both in terms of sales and prices, will characterize the market in 2011. While the pace may appear lackluster in comparison to what we've grown accustomed to, it underscores the principles of real estate 101: The market is cyclical. All boats rise and fall with the tide."

»

Resale housing market on solid ground in November

2010-12-15T12:13:00.000-08:00

National resale housing activity continues its return to normal levels, having risen in November 2010 for the fourth consecutive month, according to statistics released today by The Canadian Real Estate Association (CREA). Seasonally adjusted national home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards climbed 4.8 per cent in November 2010. Although this is well short of record level activity for the month of November posted a year ago, seasonally adjusted sales now stand 19.5 per cent above levels recorded in July,2010, when it reached this year’s low point.

The Winter is finally here in Lambton County

2010-12-14T10:06:00.000-08:00

We have been socked in here for the past two days, with over 15 inches of the white stuff and strong winds blowing the snow every where. Lots of people are stranded in the area and in fact our administrator Shelley, has not made it home from work on Monday. Hope it will clear up soon.

Mark Pedlar has his real estate licence

2010-12-14T09:56:00.000-08:00

My son Mark has joined me at RE/MAX Bluewater Realty, having just completed his real estate courses and is looking forward to the business. It should be fun having Mark working with me and he seems quite excited.

NOVEMBER SALES UP!

2010-12-03T11:29:00.000-08:00

Last month a total of 620 homes exchanged hands, up 6.2% from the previous year, making November the first month to post a gain since June 2010. "Of course we’re pleased," says Richard Thyssen, President of the London and St. Thomas Association of REALTORS®. "November's sales speak to a stabilization of the market, probably at 2002-2003 levels, as both the Canadian Real Estate Association and Canada Mortgage and Housing Corporation forecast." Year to date sales outpace those of 2009 by 1.5%

Ontario Energy Rebates are ending in March, 2011

2010-12-01T13:23:00.000-08:00

Ontario homeowners can get up to $5,000 in home improvement grants through the Ontario government’s Ontario’s Home Energy Savings program, which is in effect until March 31, 2011. To qualify for Ontario government rebates, Ontario homeowners must get a home energy audit before and after their home improvement work. Get up to $150 cash back on the cost of your first energy audit with a rebate from Ontario’s Home Energy Audit program. If you are not certain about the eligibility of your Ontario house, or any specific renovations you are planning, you should request clarification from the Ontario government. Homeowners are responsible for clarifying that their house and planned improvements are eligible for Ontario Home Energy grants before undertaking any upgrade work and related expenses.
If you are still interested in taking advantage of these grants you had better hurry before they end. Here is a link to the information.
www.homeperformance.com/ontario-rebate-grants-ontario-government-energy-rebates

Townsend Meadows Construction progress

2010-12-01T13:18:00.000-08:00

The floors are almost ready for the concrete, which should be poured this week, in Forest. The in floor heating tubing has been laid and the steel reinforcing is down waiting for the covering of concrete. These 3 units should be ready for spring 2011 completion.

New Listing in Port Franks

2010-11-18T11:29:00.000-08:00

Just listed this 2 bedroom cedar sided cottage in Port Franks. Just 3 blocks to the beach and featuring a 110'x 228' private treed lot, new 21'x 11' sunroom and a new roof, this is a great investment for the coming summer.

Time to rake the leaves

2010-11-17T18:07:00.000-08:00

Every year we get to clean up those oak leave here in Grand Bend. Jeannette and Aaron were doing a great job before the rain and snow came!

Made it back from NAR in New Orleans

2010-11-17T17:48:00.000-08:00

Jeannette and I went to the National Association of Realtors (NAR) Annual Conference in New Orleans with the London St. Thomas Association of Realtors (LSTAR) as I am on the Board of Directors this year. It was a great trip with lots to see around the conference and the Big Easy, New Orleans. The music was everywhere from jazz, to blues, to Gospel music on Sunday morning and Earth, Wind & Fire at the concert that night. The weather was in the high 70s and sunny everyday. Should be like that in Grand Bend!

Otawa Trip for Uncle Ron's 60th

2010-11-01T08:09:00.001-07:00

The family made it down to Ottawa this weekend to celebrate my uncles 90th birthday. The drive was long but the leaves were in full colour and the traffic on the 401 was tolerable.

October Sales in Line with Forcast

2010-11-01T07:54:00.000-07:00

Last month a total of 566 homes exchanged hands, down 14.8% from the previous year. “This is right in line with what we’ve seen all over the country over the past five months,” says Richard Thyssen, President of the London and St. Thomas Association of REALTORS®. “We experienced a higher volume of sales immediately after the downturn as consumers who had been sitting on the fence jumped back into the market. Now that pent up demand has been met and the market has settled down a little. The Year-to-date sales figures speak to this: at this point in the year we are still 1.1% ahead of last year.” This month, as in previous months and years, homes in LSTAR’s jurisdiction maintain their affordability compared to other major Ontario and Canadian centers. Home sales in the Grand Bend area were very similar to those of London with prices stabilizing and sales down compared to 2009.

Now that the election is over we can get back to selling!

2010-10-27T06:50:00.000-07:00

With the election finally over we can now see the real estate signs!

The Election in Lambton shores

2010-10-26T08:14:00.001-07:00

We have a new council here in Lambton Shores after yesterdays election. The mayors race was close, with Bill Weber edging out John DeHondt by a 9% margin and in Ward 7 south of Grand Bend, it was a real squeaker with incumbent John Russell winning over Allan Martelle by 25 votes or 9% as well! We will have a new Deputy Mayor as well as Carolyn Jaimeson was defeated. So there will be quite a few new faces on council here in Lambton Shores and we wish them well!

Fall in Grand Bend

2010-10-20T08:57:00.001-07:00

Fall is here and the trees are turning colours with the maple trees having such a brilliant display. Grand Bend is very colourful at this time of year and it is quiet as well!

Great trip out to BC.

2010-10-20T08:29:00.000-07:00

Jeannette, Mark and myself just got back from Beautiful BC. and as Mark says, "there are a lot of trees there". Saw the salmon run up the Adams River, the Gold rush town of Barkerville and the old Mayra Canyon Rail line at Kelowna, so we were busy and drove too many miles.

U.S. housing starts rise unexpectedly increase in September

2010-10-20T08:28:00.000-07:00

RBC reported that housing starts in the U.S. unexpectedly rose by 0.3% in September to an annualized pace of 610K units, representing the third consecutive monthly increase, following August’s 10.5% increase to an upwardly revised 608K annualized units (previously reported 598K) and July’s 2.0% rise, and the fastest pace of starts since April. Market expectations going into today’s report were for a 3.0% decline to 580K annualized units. Building permits, however, surprised to the downside by falling 5.6% to an annualized 539K and compared to market expectations for a slight 0.7% rise to 575K.

September sales continue cooling trend

2010-10-01T13:21:00.000-07:00

Last month 475 detached homes and 114 condos exchanged hands – a total of 589 sales. “Over the third quarter of this recovery year, we’ve seen sales that are more like those of the early two thousands than the period leading up to the global financial crisis,” observes Richard Thyssen, President of the London and St. Thomas Association of REALTORS®. “Given that 2001 and 2002 were both banner years in our market, that’s news we can live with.” Year to Date sales continued to outpace last year’s by 2.7%. “The flurry of activity we saw in the latter part of ’09 and the first two quarters of 2010, as fence-sitters waiting out the recession got back in the game and buyers hustled to avoid paying the HST has subsided. Now, it’s back to business as usual.”

Closing your Cottage Checklist

2010-09-30T10:47:00.000-07:00

Just got an email from Cottage Country, about closing down the cottage for the season and thought you might like some ideas.

The task seems daunting to the average cottager. But, it's not so bad. Here's a check list to make things easy for you.

■Make sure you have your security system in place.
■Void all water pipes to avoid freezing.
■Shut down the propane.
■Remove all food, and anything that may attract animals.
■Defrost and unplug the refrigerator.
■Place an open box of baking soda inside the refrigerator to keep odors away.
■Scatter moth balls in the attic and anywhere small animals or bugs might gather.
■Anti-mildew boxes can be purchased inexpensively to help prevent dampness.
■Cover windows with shades for storm protection and theft prevention.
■Store the barbecue.
■Store patio furniture.
■Make sure all garden tools are safely put away to help prevent break-ins.
■Check the sump pumps to ensure they're working.
■Organize snow removal.
■Tell your neighbors you're done for the season, and be sure to leave your home phone number so they can reach you if necessary.
■Take summer pictures of your cottage to use for advertising purposes.

Thought these were a good idea...so thank cottagecountry.ca

Welcome to Steve Riddell

2010-09-27T13:03:00.000-07:00

Steve Riddell has joined our Exeter office and will be selling in the South Huron, Grand Bend to London area. Steve is a long time resident of Exeter and welcomes his friends, family and anyone looking to buy or sell real estate to give him a call at the Exeter office ..519-235-3777

HST blamed for the slowdown, reports Royal Lepage!

2010-09-24T08:05:00.000-07:00

A recent survey conducted by Royal Lepage in Ontario and reported in the September issue of REM says that people in Ontario and B.C. have misconceptions about how the HST affects real estate transactions. Many home buyers incorrectly believe HST applies to the sale price of resale homes. The HST applies to the purchase price of a newly built home and fees for services and commissions associated with any real estate transaction, but it does not apply to the purchase price of resale homes.

Lakefronts are selling!

2010-09-22T12:55:00.000-07:00

It has been very active along the Lake Huron Shoreline this past month with good prices and lots of activity. September has been a little slower with the kids going back to school and everyone kind of busy, we are hoping that it will pick up again soon! This lakefront property only took a week to sell and the new owners are really excited to start living the cottage life.

CREA reports that Home Resales are up in Aug.

2010-09-22T12:49:00.000-07:00

The Canadian Real Estate Association reported that sales of existing homes in Canada in August rose 4.1 percent from July, the first monthly increase since March, 2010. The industry group said 32807 homes changed hands in August, with most of the monthly gains concentrated in the two biggest markets, Ontario and British Columbia, a reversal from the previous month.

U.S. Housing Starts Rise Sharply in August

2010-09-22T12:46:00.000-07:00

Housing starts in the U.S. posted a sharp 10.5% increase in August to an annualized pace of 598K units, greatly surpassing expectations for a small 0.7% gain going into the report. The increase represents the second consecutive monthly gain and the largest since November 2009. As well, encouraging news was also conveyed by building permits which rose 1.8% to an annualized 569K and compared to an anticipated 560K. Today’s report suggests that the housing market is starting to show signs of stabilizing, however, it does little to alter the fact that the level of activity is still indicative of depressed housing market conditions. The weakness in the sector over the summer can partly be attributed to the first-time home buyer’s rebates that ended in April that brought sales forward from the traditional selling season. This is a report from RBC Economics.

Great Canada Parade in Grand Bend

2010-07-10T07:16:00.000-07:00

The Grand Opening of Grand Bends' Main Street was on July 1st and besides the ribbon cutting there was a car show with everything from model Ts to Hot Rods and everyone had a great time. Plus the weather was perfect. Photos by Lynda Hillman-Rapley

Canada Day is here in Grand Bend

2010-07-01T12:12:00.000-07:00

The weather is sunny and the beaches are crowded here in Grand Bend for the Canada Day Celebrations. We are busy getting ready and making sure our Canadian flag is up and flying. Have a safe and happy holiday

Applying the HST

2010-06-16T13:14:00.000-07:00

The new Harmonized Sales Tax (HST) takes effect on July 1, 2010 and will affect certain agreements , such as the purchase of new homes that close after July 1st. HST will generally apply to the same tax base as the current GST does and therefore resale and resort homes will not be affected. Realtors commissions will be subject to the HST at the rate of 13 percent, instead of the GST rate of 5%. I have had some people ask if this new HST is on resale homes and Thankfully it is not.

U.S.-Style Home Price Correction Unlikely in Canada

2010-05-28T09:11:00.000-07:00

The Canadian Real Estate Association (CREA) released a new report today indicating that home prices will stabilize, and will remain stable for some time. This means that Canadian homeowners are unlikely to experience a U.S.-style decline in the value of their homes. “The relationship between average price and income has recently been cited as portending a U.S.-style correction in Canadian home prices,” said Gregory Klump, Chief Economist, CREA. “However, such warnings ignore the longer-term relationship between prices and income, and disregard typical Canadian housing market cycle dynamics.” Home prices tend to rise in cycles, characterized by periods of sharp growth and periods of stability. By contrast, income generally follows an orderly upward trend over time. For home prices to keep pace with incomes, they must rise faster during housing booms to make up for periods of little or no price growth. Canadian home prices were stagnant throughout most of the 1990s, while incomes continued rising, making housing more affordable. Over the past decade, home prices have climbed sharply as mortgage interest rates declined. Klump adds: “The Canadian housing market is now widely thought to be at, or very near, the top of a cycle, and the ratio of home prices to incomes is currently high. This ratio will revert to its long-term average as it always does as part of a normal housing market cycle. History suggests, however, that it will not do so by means of a significant correction in home prices. The more likely scenario is that home prices will stabilize, giving incomes a chance to catch up again.” The bursting of the U.S. housing market bubble has sparked fears that Canadian home prices may share a similar fate. However, according to Klump, “warnings to this effect ignore solid Canadian mortgage market trends.” Conservative lending practices in the mortgage industry combined with prudent borrowing and accelerated payments among Canadian mortgage holders have been seen throughout the recent housing market cycle. Accelerated accumulation of home equity will provide options for the small proportion of homeowners who may face financial difficulty when their mortgage is renewed at a higher interest rate. These trends are expected to help Canada avoid a U.S.-style housing crisis. The correction in U.S. home prices is set against a massive oversupply of homes due to distress sales, combined with a drop in housing demand due to unemployment. The unwinding of the housing boom in Canada will be more orderly, characterized by softening sales activity and stable prices.

New Rules for First Time Buyers

2010-04-30T11:59:00.000-07:00

Stefania Moretti with QMI Agency reported recently that Tighter lending rules and rising interest rates means Canadians looking to buy their first home may face an uphill battle. New government-backed mortgage lending rules aimed at protecting Canadians from getting in over their heads with debt once rates comes off historic lows came into effect just recently. All homeowners must now qualify for a five year fixed mortgage rate, even if they are choosing a shorter term product. Other new rules on mortgage lending include higher minimum down payments on investment properties,lower refinancing maximums and eligibility changes related to the stated income program. Also self employed Canadians are only eligible for the program during their first three years of business. there is also the HST coming in July that will increase costs slighlty.

Construction on the Main Street of Grand Bend

2010-04-08T11:44:00.000-07:00

With spring finally here the Main Street reconstruction is progressing at high speed... just click here to see the progress.

March Sales were great!

2010-04-06T08:50:00.000-07:00

The London Free Press today reported that March was another solid month for London-area home sales, boosting confidence the real estate market is back to pre-recession levels. The London and St. Thomas Association of Realtors said 859 homes sold last month, up 28% from the same month last year when the market was still in the grip of the recession. The association said the March totals were in line with average sales for the month over the last 10 years. "It's a question of recovering lost ground rather than any kind of boom," said association president Richard Thyssen While real estate crashed in most major markets last year, sales in London and St. Thomas dipped only 3.42% overall, compared to 2008. "Now, we're pretty much back where we were before the financial meltdown and gaining momentum," Thyssen said. He noted the number of homes listed for sale is also up, 20.6% for detached homes and 6.3% for condos. "That's good news for our spring market and for our local economy as a whole, given the considerable economic spin-off of real estate sales," he said.

Great Easter Weather

2010-04-04T04:34:00.000-07:00

Wishing everyone a Happy Easter and may they enjoy this fantastic weather we are having...The beach has been busy, Main Street is a mess with the detours and construction going on and all the visitors trying to get around the town on the back streets, makes for a very busy town these days.

Canadian economy grows fastest in 3 years

2010-03-31T10:12:00.000-07:00

Tavia Grant of the Globe and Mail reported that the Canadian economy began the year with a bang, expanding the most in three years as manufacturing, mining and construction activity quickened. The country's gross domestic product, the broadest measure of all produced goods and services, rose by a better-than-expected 0.6 per cent in January on widespread gains, Statistics Canada said Wednesday. It was the fastest growth since December, 2006, the fifth month in a row of increases, and the latest in a string of economic reports to top expectations. The Bank of Canada said earlier this month the economy has been hotter than it had anticipated, putting additional pressure on the central bank to begin hiking interest rates in the coming months. “Barring some major unexpected economic shock, it is hard to imagine the Bank of Canada raising rates any later than July, and it must be conceded that June is at least theoretically possible,” said Eric Lascelles, chief macro strategist for Canada at TD Securities.

Tundra Swans are Back

2010-03-18T19:11:00.000-07:00

Spring is finally here with the return of the Tundra Swans to Lake Smith, south of Grand Bend near the Pinery Provincial Park. The swans are stopping over at the former Lake Smith before they head north to their nesting area in the Arctic. It was reported that over 40,000 swans are in the area this spring. Click here to see the video.

We are back from the Sunny...Cold South

2010-03-10T07:10:00.000-08:00

Jeannette and myself made it back from our Florida vacation and even though it was a little cooler there, we did not see any snow! The vegetation in Florida looks a little rough with all the cold weather but we were able to golf and get in a ball game, so spring is right around the corner.

February Housing Starts up 5 Fold

2010-03-10T06:56:00.000-08:00

Hank Daniszewski of the London Free Press reported that with even the February snow the London area housing market was heating up with the most single-family housing starts in more than a year. The Canada Mortgage and Housing Corp. (CMHC) said 150 single-family homes were started in London-St. Thomas last month, topping any month in 2009. The number of starts was five times as many as February 2009 when the market was in the middle of a deep slump. CMHC Analyst David Lan said the local market has been on an upswing since last Sept. "We are back to our long term pre-recession numbers". Which is great news for this area as the market is beginning to heat up with the spring like weather.

We are holidaying in Florida

2010-03-03T21:30:00.000-08:00

Wish I could say the weather was warmer but 60 is better than 30! We are in the Orlando area and have been golfing, made it to Epcot at Disney and are off the see the Tigers and Bluejays tomorrow. Hope it will get warmer as well

Listing Inventory Levels are Very Low!

2010-02-24T07:42:00.000-08:00

Lack of inventory will be the greatest Challenge facing housing markets across the country this Spring, according to a report released today by RE/MAX. The RE/MAX Market Trends Report 2010, which examined real estate trends and developments in 16 markets across the country, found that unusually strong activity during one of the traditionally quietest months of the year has led to a sharp decline in active listings in 81 per cent of markets surveyed. The threat of higher interest rates, tighter lending criteria, and in British Columbia and Ontario, the introduction of the new Harmonized Sales Tax (HST) have clearly served to kick-start real estate activity from coast-to-coast, prompting an unprecedented influx of purchasers. As a result, 87.5 per cent of
markets posted an increase in sales in January. Average price appreciated in 81 per cent of markets surveyed. “There have never been so many motivating factors in play at once,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “We’re in for a heated Spring market that will, in all probability, spill over into the summer months, as the window of opportunity draws to a close. The supply of homes listed for sale has been drastically reduced, housing values are once again on the upswing, and banks and governments are moving in unison toward stricter lending policies.” Markets experiencing the tightest inventory levels include Toronto (- 41 per cent); Kitchener-Waterloo (-33 per cent); Ottawa (- 30 per cent); Victoria (- 30 per cent); Greater Vancouver (- 27 per cent); Halifax-
Dartmouth (- 19 per cent); London-St. Thomas (- 18 per cent); Regina (- 16 per cent); and Winnipeg (- 13 per cent). Conditions were still balanced, but starting to tighten in Calgary, Edmonton and Saskatoon,particularly in the single-family detached category.

Townsend Meadows Development

2010-02-21T17:30:00.000-08:00

The Townsend Meadows Development is now completed and ready for area Seniors to move in. Attached is a Photo tour of the Development showing the progress of the Units being built. Just click here to see the photos.

Oakwood Place Condos now Registered

2010-02-20T07:25:00.000-08:00

The Oakwood Place Condos located behind Tim Hortons here in Grand Bend are now registered and are being offered for sale at $139,900. These 2 bedroom units are all on one floor, come with 5 appliances and a balcony from the Master Bedroom. These units have gas heat, central air and are only a short walk to shopping, beaches and of course Tim's!

Yacht Club Web Cam now on site

2010-02-12T08:50:00.000-08:00

I have attached the Grand Bend Yacht Club's Web Cam to my Community Links under the Sports & Recreation section. Just go there and click on the link and you will see what is happening at the Marina in Grand Bend. Right now there is very little except a frozen river and lake..waiting for summer and the crowds that will use the area this summer. Just Click Here

Townsend Meadows is on the Map

2010-02-12T02:53:00.000-08:00

Just put the photo of Townsend Meadows on the GOOGLE earth map with Panoramio. Fun to see how this shows up and if people can see where the project is now. Go have a look just click HERE!