Best Beaches in Ontario right here in Grand Bend

Grand Bend has some of the best beaches in Ontario, if not Canada. This is from the Southwestern Ontario Tourism Association telling everyone how great our beaches are. Just follow the link to see all the wonderful attractions on Lake Huron.

http://bestbeachesontario.com/beaches/best-beach

Phantom real estate bids are enough of a problem that Ontario is cracking down this July

Starting July 1, the Real Estate Council of Ontario (RECO) will be enforcing new rules that place strict criteria on what constitutes a bid on a residential property. The goal is to crack down on the elusive phantom bid, which some homebuyers suspect occur in bidding wars, but are unable to prove. This involves sales agents hinting to prospective buyers there are other bids as a way to coax them to bid higher. "They say, 'We're expecting another offer. I do have another offer. You may want to go back to your client and make sure this is their best offer'," says Joseph Richer, registrar of RECO. "They are suggesting there might be competing offers when there may or may not be."

With the new rules, "You cannot suggest or even imply that you have an offer unless you have one in writing, signed sealed and ready to be delivered," said Richer, while adding there have been very few formal complaints about phantom bidding over the years.

The current rule is clear that no offer is valid until it is signed. The new rules will force brokerages to keep an offer, or an equivalent summary (basically, a list of buyers and contact info with name of broker, date and time), on record for one year.

 

Market Continues Strong in May

The local housing market continued strong in May 2015, with total sales up 6.8% over the previous year. "In fact, May 2015 is the best May on record since 2007," says Carl Vandergoot, President of the London and St. Thomas Association of REALTORS®. He adds, "We can thank job growth, stable mortgage rates and affordable home prices for what is turning out to be a very robust market in our area." 861 detached homes and 194 condos sold last month, when a total of 1,055 homes exchanged hands.

Listings were down 3.7% and inventory – active listings end of period – were also down 2.7%. "Our supply of listings is still good and we would still characterize our market as balanced," says Vandergoot. "But, if supply continues to tighten up, we might find ourselves moving into a sellers market. My advice to any potential sellers sitting on the fence would be to take advantage of the current situation and list."

As of May 31, the average price for a detached home Year-to-Date stood at $281,564, up 4.1%, while the average price for a condo over the same period stood at $189,832, up 3.8%. Year-to-Date the average price of all homes sold through LSTAR's MLS® stood at $263,785, up 3.8%.

Our sales to date here in Grand Bend are up 75% over last year! So we are expecting 2015 to be a banner year for cottage country. There is a good selection of listings available right now and this is a great time to list as well, as the early summer season is usually the most active for sales.

The Market Springs to Life

The Spring market is off to a good start with 964 homes exchanging hands in April 2015, up 15.3% over the previous April." This makes last month the second best April in the past decade – second only to April 2010," says Carl Vandergoot, President of the London and St. Thomas Association of REALTORS®. 776 detached homes sold last month, up 16.5%, along with 188 condos, up 10.6%. Average price, Year-to-Date, was also up 2.2% overall. The average price for a detached house Year-to-Date stood at $278,094, while the average price of a condo for the same period stood at $184,982.

Listings were also up 5.4%, while inventory – active listings end of period – were down a marginal 0.2%. "We still have a good supply of listings," says Vandergoot, "and our market continues to be a balanced one, good for both buyers and sellers.

However, supply does seem to be tightening up a little, meaning that, if anybody’s thinking of listing their home, now might be an excellent time to do it."

The market here in Grand Bend has been very active as well with our sales up almost double from the same time last year. With the snow finally gone and the May 24 weekend upon us it looking like a very good year ahead for this market.

Ipperwash Beach Agreement Finally!

After fears that vehicles would be driving along Ipperwash Beach this summer, an agreement has been reached between local officials, community members and First Nations to temporarily ban traffic on the beach.
The agreement was hammered out Tuesday and will be in effect throughout the summer.
Negotiations are continuing to find a long-term solution after members of the Kettle and Stony Point First Nations made a bid to reclaim the land by removing barricades.
The First Nations said they removed the municipal barricades to reconnect the trail that historically linked the Kettle and Stony Point Nations.
“We’re discussing how to go forward with Ipperwash,” says Mark Lindsay, an executive member of the Centre Ipperwash Community Association (CICA).

His association will hold a public meeting Sunday afternoon at the Port Franks Community Centre from 1 to 4 p.m.
Lindsay says it is hoped the meeting will help determine more natural ways to prevent vehicles from entering the beach and to ensure Ipperwash remains “the historically special place it is” and to “celebrate longstanding relationships.”

February sales solid in the area...

Despite record-breaking cold, a total of 535 homes sold in February. "Given that the average number of February sales over the past decade stands at 489, I think it's fair to describe February 2015 as a good, solid month for home sales," says Carl Vandergoot, President of the London and St. Thomas Association of REALTORS®.

Also up for February were listings by 6.2% - while inventory - active listings end of period – was down a marginal 1.3%. The market continues to be a balanced one.

The average price of a home in the Association's entire jurisdiction, which includes Middlesex and Elgin Counties, stands at $248,056 Year-to-Date, down 2.4%. "This is an average price, rather than a median,” explains Vandergoot. "The figure will fluctuate based on what is sold at what price in any given month."

 

"It was nice to see that sales are still strong even in February. The market here in the Grand Bend area has been effected by the stormy weather we have been having this past month." Doug

 

Winter is here

February has turned into winter here in Grand Bend. The market and the phones were busy after Christmas with buyers looking forward to the spring. There is still a good selection of properties and if you can find what you are looking for now is a good time to buy that home or cottage, before this snow goes away and the market heats up!