It's February And The Winter Weather Is Finally Here
Hope everybody enjoyed their January as we get use to remembering we are in 2023! We have seen a couple bad storms whip through our area but I guess it is what we should expect for living in Canada. We are a skiing family so we don't mind seeing some snow so that we can get up to Blue Mountain for some skiing. Even more fun watching Chloe, Mark's oldest daughter, trying to get the hang of skiing!
The market has been very interesting to watch as the last quarter of 2022 was very slow with activity and we expected it to be more of the same going into 2023 but January has been surprisingly much busier with buyers actually buying homes and seeing SOLD signs go up. It seems to be leaning towards a balanced market where as the last part of 2022 was a pure buyers market. It should be interesting to see how things progress around here as the spring market is usually the busiest time of the year for real estate and it is right around the corner. This is a great market for first time home buyers or investors to find a deal. Professional tip is go get pre approved because sellers are becoming more comfortable with the reality of having to work with a buyer.
We love to talk real estate so call us anytime at 519-238-5700
The Difference Between Pre-Approval & Pre-Qualified
Purchasing a home can be confusing with all the different terms and requirements. Two steps involved in the mortgage process are pre-qualification and pre-approval. But what’s the difference between being pre-qualified and pre-approved?
Prospective homebuyers should consider getting pre-qualification at the onset of their home-buying process. It allows them to consider their budget and gain insight into their mortgage options.
Then, homebuyers should consider getting pre-approval when they are more involved in the home-buying process, ideally within three months of the expected purchase date of their new home. It allows them to understand their financial position better and narrow their options
Interest rate hikes served to destabilize most major Canadian housing markets beginning in 2022, however a new report from RE/MAX Canada reveals that homeowners are well-positioned to ride out the coming storm in large part due to lower loan-to-value ratios on new mortgages. The RE/MAX 2023 Canada Housing Barometer Report examined average price and new mortgage values published by CMHC-Equifax Canada in 12 major markets from British Columbia to New Brunswick, to compare loan-to-value (LTV) ratios between Q3 2012 and Q3 2022.
Over the last few years, home sellers have had the upper hand. But with Canadian Housing market conditions expected to shift this year, you may be wondering, what is a balanced market? Let’s explore recent history, and what this recent change means for you.
At the height of the market during the pandemic, many Canadian cities experienced skyrocketing home prices, from single-family residential properties in major urban centres to townhomes in rural communities. In the process, prospective homeowners also had to endure intense bidding wars, causing some buyers to ditch conventional homebuying best practices, including home inspections. During this time, the Canadian real estate market transformed into a seller’s paradise thanks to historically low mortgage rates.
But now that the Bank of Canada (BoC) is on an inflation-busting crusade of raising interest rates and trimming its enormous balance sheet, Canada’s housing industry is witnessing a moderation, and many regions are expected to (or have already) moved toward balanced market conditions.
Re/MAX Canada Quest For Excellence Scholarship Program
The RE/MAX Quest for Excellence scholarship program is a cash scholarship that recognizes students for their ongoing community contributions and pursuit of leadership. RE/MAX Canada will award 40 scholarships of $1,000 each to students across Canada (except for Quebec).
Participants must be a Grade 12 student attending high school in the 2022/2023 academic year, who have not previously participated in graduation commencement ceremonies in the past. Deadline for applying is March 13, 2023.
Featured Business Of The Month Southwest Marine + Powersports 70672 Bluewater Hwy N, Grand Bend
Very excited to bring this company to our newsletter because now is the time to be thinking about those toys for summer!! Don't wait until the nice weather is here and its to late. Head into their amazing new facilities and make this the best summer yet! Here are a few words from the business itself:
Welcome to Southwest Marine + Powersports.
Southwest as you know it has undergone somewhat of a reconstruction in the last couple years. You may have seen the massive upgrade to our facilities (just under 60,000 sq ft), but our all-around image has not changed. Owner, Jeff Kints, has maintained the family feel that our customers have come to know and love; one that was 40 years in the making. Jeff acquired Southwest from long time owner Dave Gill, as well as Brian Kipfer’s Service Center from Hensall to create a full-service dealer right here in Grand Bend.
We opened our doors to the new facility in September of 2022 and are looking forward to meeting all your future needs. We are proud to continue offering the best selection of Yamaha motorized sports vehicles in Southwestern Ontario. Recently, adding many more big names to our Marine + Powersports lineup. Over the years, we have continually evolved with our loyal customers and the vehicles we sell.
Please do not hesitate to contact us at 1519-238-2887, or online at http://www.southwestmap.com for any questions about our products and services. You can also come and see us directly at our dealership in Grand Bend, in Southwestern Ontario. Thank you for being a part of our journey – we look forward to many years to come.
FOR SALE 29 Beach Lane, Grand Bend Listed at $2,200,000
Picture perfect lakefront setting in the heart of Grand Bend with great curb appeal and over 3000 sqft of well-designed living space. Walk out your front door to the Blue Flag designated beaches of Lake Huron with sandy shores for long beach walks and world-famous sunsets. At first glance you see the landscaped gardens, triple wide stamped concrete drive, covered front porch with composite decking, irrigation system and 1.5 detached garage complete with power supply for EV charger and change room to shower off the sand after the beach. Inside your welcomed into the home at the foyer which opens to the heart of the living space. The home was completely updated in 2000 including new foundation, electrical, plumbing, drywall, and Pella windows while also enlarged adding the lower level, upper level, and front main floor family room sunroom. They did leave some original charm in the living room and dining room that features knotty pine walls, ceilings, and original hardwood floors as well as a gas fireplace with stone feature wall. The kitchen was updated in 2013 with an abundance of working space and storage. The main floor sunroom family room is the perfect place to relax with a wall of windows overlooking the Lake and a walkout to the lakeside screened in porch. The main floor also includes a full bathroom and guest bedroom. Upstairs you have your spacious primary bedroom suite overlooking Lake Huron with walk in closet, 4 pc ensuite and private walk out covered patio. There’s 2 additional bedrooms, 4 pc bath and laundry room on the second level for family and friends. Finished lower level with another large family room that includes pot lighting throughout. Space for a workshop in the utility room and lots of storage. This home is certainly a unique offering that showcases pride of ownership by the same family for over 70 years!
FOR SALE 5486 Beach Street, Lambton Shores Listed at $1,569,900
Charming lake level lakefront along the sandy shores of Lake Huron in the community of Lake Valley Grove. This is a unique offering featuring an updated bungalow home with a separate guest suite attached to the double car garage all situated on a 81’ x 186’ private setting. Drive up the double wide paved driveway and your greeted by the meticulously landscaped yard giving this home great curb appeal with multiple gardens, cement front walkways, side yard patio with pergola and wood board walks connecting the 2 homes. There’s a reason why this property is a Communities in Bloom award winner. The main home was completely updated in 2017 featuring a modern design with luxury vinyl plank flooring throughout. The kitchen features white shaker cabinetry with soft close drawers, stainless steel appliances, granite countertops, glass tile backsplash and a large wall pantry for everyday storage. Inside the living room you can enjoy the views of the lake with the gas fireplace and stone accent wall for charm. There’s sliding patio doors off the living room to the lakeside covered patio that includes privacy shades on each side. Separate dining area with vaulted ceilings and crown molding with accent lighting. Waking up in the spacious master bedroom with the view of the lake from your pillow is the best way to start any day. There’s a second bedroom as well as a full 4 piece bath completing the home’s interior. Large crawl space giving you lots of room for dry storage. The 400 sqft guest suite was built in 2018 and includes it’s own covered lakeside patio with sliding doors to the interior. Inside features a kitchenette, large open family room with pull down murphy bed and 3-piece bathroom. The double car garage is currently set up as a one car garage with a bonus room that features french doors to the front drive that could be a perfect art studio or office. Enjoy all that Lake Huron has to offer including the sandy beaches, crystal blue waters and world famous sunsets.
FOR SALE 7683 Riverside Drive, Port Franks Listed at $569,900
Welcome to Port Franks and this 2 plus 1 Bedroom home featuring a large 1/3rd acre treed lot with a fenced back yard and a spacious double garage with parking for 4 out front, on the paved drive. There is lots of privacy with a large 25'x13' deck overlooking the back yard, the fire pit, dog run and the 10'x12' garden shed, all surrounded by mature pine trees. The front of the home has a full 20' long wooden deck as well, so you can be in the shade anytime. The 24'x21' garage features a drive through door to the back yard, where you are able to store your toys behind the garage. The home has everything the family needs from a large foyer to store the coats, 2 baths, a spacious living area with a natural wood fireplace and comes with the pool table in the lower family room, ready for the kids! There has been some recent updates plus the roof is only 4 years old and there is new flooring on the main level. Port Franks is a great place for the family with the best sandy beaches in the area, boat docking at the Conservation Park, lots of activities at the Optimist Community Centre and Park, plus walking trails in the Lambton County Woodlots and of course, those world famous sunsets which are just amazing! This is like living in the Pinery Park when you are just minutes to the Ausable River, Lake Huron and the mature pine and oak trees of the area.
Support Your Local Ausable-Port Franks Optimist Club Online Raffle 50/50
Buy your tickets today to get in on the early bird prizes that were donated by some amazing local companies that include Westland Greenhouse, Green Bucks, The Lake Hound, Grog's Pub & Grill & Colonial Hotel!
Looking to move outside of the area and not sure who to call? As always call The PEDLAR Team with any of your real estate needs! We are closely connected with a group of realtors that cover Southwestern Ontario. Along with our involvement in the Re/MAX community we are sure to line you up with a trusted knowledgeable real estate agent to make your plans a reality anywhere in North America, or the world for that matter because Re/MAX is global!
It is the hope that this card will encourage you to choose local businesses, more often. They've been quietly adding new businesses, new offers and TWICE as many draws! As lovers of Grand Bend, we need to stick together and keep our businesses OPEN. These Local businesses who are unable to provide specific offers, have stepped up to help provide MORE CARDHOLDER Draws! More Draws = More Winning & More Local Spending. Let's support them, for all they do to support our community.
The municipality of Lambton Shores is starting a new initiative of making municipality information easier to find out. Check the link out and see what things you didn't know about this awesome municipality.
A new initiative started by the Lambton County & Huron County Economic Development groups was uploaded recently. They each created a virtual mapping website to show all the businesses and store fronts across the counties. These were created as an idea during COVID and will become a great tool for locals and tourists alike after COVID. Any business can be posted in the respective area if you go to the proper link below for each county.
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