Have you been looking for that inexpensive get away?...Here it is...just north of Grand Bend in the Highlands I Subdivision. This 3 bedroom Cottage is just a short walk to the beach, comes fully furnished and is ready for renting. There is work to be done to the place but it you are looking for the cottage you can't find it any less expensive than this!
The London and St. Thomas Association of REALTORS® (LSTAR), reported that 386 homes exchanged hands last month. The year to date sales are down 11% compared to 2007, but this year is becoming a return to a balanced resale market with more normal sales levels. The average price of homes in the area continues to rise slowly but this does seem to be a great time to buy that retreat that you have been thinking about!
The Globe and Mail today reported that several Canadian financial institutions lowered their residential mortgage rates yesterday, across a broad range of maturities to take effect beginning this week. The reductions on one to five year fixed-rate mortgages, ranged from one-quarter of a percentage point to a full percentage point and varied with financial institutions. The companies lowering rates included Royal Bank of Canada, Bank of Montreal and Desjardins Securities. The lower rates will hopefully bring some relief for Buyers!
Your new assessment notices are in the mail, and I am sure most people are going to see the value of their home rise. This is the first new assessment in 3 years, so many homeowners will be thinking about the tax hike that is on the way. What you should be focusing on is how your property value changed compared to the average, to see if your taxes are going up. We are also hoping that Lambton Shores council changes the mill rate accordingly, so our taxes don't go up and they make this another tax grab!
After a strong September, October real estate sales in the London area dropped by 15%, while sales across Canada dropped by 14%. The number of sales so far in 2008 is down 7.9%, according to the London St. Thomas Association of Realtors, compared to 2007, which was a record year. The average price of a home is $212,034 in the London area, up 5% from last year with the market here returning to a more normal market. The number of listings are up from last month and up 28% over last years numbers. So it seems to be a great time to buy with more selection and better prices...just like there was a sale going on!
The 7th Annual "Kause for Kids" Motorcycle Parade was held today in the sunshine and 50 degree weather! Over 300 bikes, had to be in the parade with everyone from Santa to the Alhambra band taking part in the activities. Everyone brings a toy for the Kids, dresses warm and cleans the bike for the parade down Main St. and the festivities after. It's like an annual reunion and with the beautiful weather out it was very busy here in town.
With all the talk about the falling real estate market, Michael Polzler of RE/MAX Ontario says the Canadian real estate markets are far-better positioned than their American counterparts for a good number of reasons. 1. Sub prime mortgages represent less than five per cent of our market nationally. 2. Foreclosures occur in about one quarter of one per cent of mortgage transactions in this country. 3. Canadians have more equity in their homes. 4. We have less debt than our neighbours south of the border. 5. Speculation has played little or no role in existing home sales in Ontario. 6. The fundamentals of our economy are relatively solid. Of the G8 countries, only Canada is expected to show growth in 2008 and 2009. 7. The Canadian banking system is one of the best in the world, relying more on old-fashioned lending than innovative financial products geared toward profit.
Real estate is cyclical. There will be peaks and valleys. The more restrained the peak, the more modest the valley. While some buyers and sellers will adopt a wait-and-see attitude, there are those that will continue to venture forward.
NOW....is a great time to buy that 2nd home, cottage, vacation rental or retreat here in Bluewater Country, along Lake Huron! Prices have lowered due to the economic splash and "it is Fall". There is a good selection of all properties from low end right up to the Lakefront homes. Sellers are wanting to sell before the snow flies, which is not far away. Just go and check out some of the prices on my listings and you will see there are better things to do than worry about the economy...go make a good investment... buy Resort Property!
Garry Marr, of the Financial Post says that home prices across Canada fell for a forth straight month. I think we'll see a continued slowing for six months at the minimum, as home prices fell 3.6% in July and then 5.1% August. Those declines might have made it cheaper for consumers to buy a home but in the past two weeks most of the major banks have jacked up the variable mortgage rate for consumers who float with prime. Prime is now at 4.25% at most banks. CREA said Wednesday the housing market appears to be stabilizing, the facts right now indicate the real estate market is stabilizing in many markets," said Calvin Lindberg, president of CREA.
The weather here in Grand Bend was spectacular for the Thanksgiving weekend and busy with people as well, here in town. The cottagers were back and busy at the stores, the drag racers from Windsor were here to see who was the fastest and the trees are really showing their colours. Now if the stock markets would only get better the phones might start ringing. There are lots of homes, cottages and condos now on the market, so it is a great time to buy and the prices are right!
With Thanksgiving coming soon it's a great time to make sure you are ready for the cooler weather. Frost is in the air and snow is not far behind so clean those eave troughs, cover the windows and don't forget about the hot water tank and turning off and draining the water if needed. Enjoy the weekend the weather has been perfect.
Some of the prices for recreational properties at this time of year are very good. It is a great time of year to buy that second home for investment or for the family to use through out the year. There is a good assortment of cottages now listed like this 3 bedroom retreat in the core of the Bend. Just 3 blocks to the beach, comes fully furnished and has a full roof top patio. Best of all the price has been lowered to $174,900!
The London-St. Thomas Association of Realtors just released the Sept sales stats showing that 769 homes changed hands in the month, up 19% from the same month last year and a sales record for the month of September. The average price of a home in London last month was $213,000, up 4.8% from a year ago. So there is some good news on the real estate front here in the area!
Looking for that affordable lakefront cottage close to Grand Bend with a great sandy beach? This 3 bedroom cottage in Poplar Beach is just 8kms. north of Grand Bend and features a 50' x 226' treed lot, great beach, good stairs and deck to the lake, comes fully furnished, sun room, full lakeside deck and a newer roof.
CMHC has just released the July stats for new home sales in the London area. The number of new homes being built are down about 30% from last year but the average price of the homes being built are up only slightly!
Just minutes to the beaches and shopping of Grand Bend this 3 bedroom furnished cottage has been recently updated and is ready to make you money. Pine cabinets and ceiling plus a spacious rear deck gives you plenty of room to entertain. Only asking $187,500.
Are you looking for that perfect Lakefront Home! I just listed the Bluffs of Port Stanley Golf Club that has over 3000 feet of Lakefront on Lake Erie, 126 acres of mature bush and a well kept Nine Hole Golf course to entertain your friends on! The property is just west of Port Stanley and features 3 bedroom brick home with a great view of the lake.
Nine hundred and fifty homes exchanged hands in July 2008, making last month the second best July for home sales since the London and St. Thomas Association of REALTORS. (LSTAR) began keeping records in 1978. The best July on record was in 2007, when 1,009 homes exchanged hands. “Despite reports to the contrary, local-area home sales continue to perform extremely well this year,” comments Bruce Sworik, LSTAR President. Nice to see the market has not gone "south"!
The number of homes put up for sale through multiple listing services across Canada broke through 80,000 for the first time in July, setting a record for new listings in a single month, the Canadian Real Estate Association said Friday. That suggests the balance of power is shifting toward buyers, association president Calvin Lindberg said in a statement, because "the more listings there are on the market, the bigger the impact on the average price." "It means a market when buyers have more options, and sellers must be realistic in their pricing expectations," The Market here in Grand Bend is now a balanced one and there is a good selection of properties for sale
With the long weekend here and summer almost over the activity at SouthBend is ready to begin! The eye catching front gates are almost completed and we are patiently waiting for the big equipment to arrive for the servicing and golf course.
The August long weekend was very busy for Grand Bend with line ups for everything from parking, ice cream, camping, to even getting into town on 21 highway! The beaches were packed, the boaters were happy and the Main St. looked like a parking lot itself. Finally a sunny weekend and every was enjoying it.
This 2 bedroom cottage is in the Highlands l subdivision, just north of the Grand Bend pumping station and minutes to those wide sandy beaches of lake Huron. Private treed and fenced lot just 2 blocks to the beach, great sun room and comes fully furnished!
Perfect view of Lake Huron and the beach from this updated 2 bedroom year round home or cottage. You can sit on the deck and watch those world famous sunsets. Just off 21 Highway at Centennial Road. Asking $349,000
Work is in progress on the entrance signs for the SouthBend Estates Development here in Grand Bend. We are hoping that the golf course and development will soon see the earth moving ...but for now there is going to be a beautiful concrete sign at the entrance.
Another great weekend for the RE/MAX Balloon crew!. Hal did a great job this past weekend with the hot air balloon, getting in three flights over the Grand Bend Drag strip, even with the unsettled weather in the area. This photo was from the Friday night flight as they touched down in a local wheat field with the sunset just perfect.
The Bedard Family are up and away...Shelley and Zak were up in the RE/MAX Balloon this past weekend. They made it all the way from the Grand Bend Drag strip to the outskirts of Dashwood...and the flight was perfect as Hal the pilot did a great job.
The activity here in Grand Bend this weekend is fast as the IRHAMopar Series is underway. Great crowds on Saturday even with the unsettled weather. The RE/MAX Balloon flew over the track on Sat. morning and watched the drags from above. Hope the rain stays away today!
The new entrance signs for SouthBend Estates Development are now going in! The concrete footing is being poured for the signs and it is nice to see some action. We are hoping that construction of the roads and services will begin shortly.
This is the weekend that drag racers from across North America come to Grand Bend for the IRHAMopar Nationals. Starting Thursday the place will come alive as the big rigs come into town to descend on the drag strip. The REMAX balloon will be here as well to soar across the sky. If you need some excitement in your life come to the Bend this weekend and don't forget your ear protectors!
Canada Day was celebrated here in Grand Bend with bands on the beach and fireworks at 10 last night and they were great! The crowds were the largest that we have seen in quite a few years and the weather was just perfect. Watching the people walking up the main street after, was quite a sight. It looked like the crowds after the ball game in Detroit!
One of the nicer treed lots that back unto the golf course has come up for sale. Lot 17 which backs unto the 12th fairway is available for $129,900 and comes with mature oak and pines already in place, just build your dream home around them. This lot is 21.4 x 45 meters in size with green space and the golf course right behind you.
We finally have summer, even with the rain! The phones have been busy now that summer is here and I have been out showing buyers cottages all weekend. The tourists are now here and hopefully the sun will shine to bring everyone back for this coming long weekend.
SouthBend Estates has finally opened. This is the new entrance to the SouthBend Development here in Grand Bend. The clearing is directly across the road from the Beach O Pines entrance, just south of town on 21 highway.
Spring is finally here and the sale of resort property here in Grand Bend have heated up with the warm weather. The extended winter slowed sales in March and April but what a difference a couple of weeks make. Southbend Estates has finally opened the road into the subdivision and we are hoping the subdivision just south of Grand Bend will finally get rolling!