September Newsletter ~ The PEDLAR Team Update

 

Another Summer To Remember!   We hope everyone enjoyed their last official long weekend of summer and is reminiscing about all the good times they had this summer. It was certainly a hot one and as good old Canadians it is greatly appreciated when we wait 8 months in the cold for some heat. Our small town that exponentially grows over July and August goes back to a quiet town as the locals hope for good weather! September is a great time to get out and do those things you were maybe a little hesitant to do during the summer due to the crowds and lack of parking. Many stores and restaurants stay open for September along with many community events going on to embrace. The picture above was from the last night of the Grand Bend Sunset Sounds Concert Series! The major local community event happening right now is the Paint Ontario event at the Lambton Musuem just south of Grand Bend. Nearly 150 pieces are entered into the contest for all to view and really shows the incredible talent we have in Ontario. The event is open for visitiors to enjoy from September 5 - 25 and is sure to impress! We were lucky enough to select this gorgeous painting pictured below as our Sponsorship Choice Award winner. Another great local event is the John Patterson Memorial Poker Run on September 10 and all proceeds go to the Grand Bend Rotary Club Community Centre Project. Hop in your dinghy and take part in a great event supporting a great group! Lastly the Grand Bend Place presents four outstanding concerts in different musical genres, from jazz and folk, to Mediterranean and Celtic. Find tickets at http://www.grandbendplace.com/events with events happening Sept 9, Sept 16, Oct 29 and Nov 16. Everybody loves some good music so get your tickets today! We love talking real estate so call us anytime at 519-238-5700! Bank Of Canada Raise Interest Rates Today   As expected the Bank of Canada has increased the benchmark interest rate by .75 to 3.25 percent. This being the highest level for the Bank's rate since early 2008, before the financial crisis. This increase is an attempt to slow the sky high inflation the Canadian population is all being affected by. Here is a link to the CBC article regarding this newest adjustment that gives an even more in depth look into the reasoning: https://www.cbc.ca/news/business/bank-of-canada-rate-hike-1.6574457 On that note it is also interesting because yes the average price has come down quite drastically in the past 6 months, close to 20% locally, these prices are still much higher than pre covid so we have not lost all the increase homeowners saw over COVID. Homes are still selling, people are still moving, things are still happening in the real estate market just at a slower pace and at a lower dollar value. This is an interesting article from The Financial Post that shed light on the current market: https://financialpost.com/real-estate/housing-market-not-melting-down-statistics Budget Friendly Kitchen Updating Ideas   All updates don't need to cost five figures! Here are a couple images to help give you some ideas on ways to improve or update your kitchen in a budget friendly manner! Something great to think about as we go into the colder seasons and doing anything outside becomes a non-option. FOR SALE 31 Lakeshore Drive, Grand Bend Listed at $3,900,000   Lakefront home in the prestigious gated community of Oakwood Park on the northern boundary of Grand Bend featuring beautiful private sandy beaches in front of your property and the great sunsets of Lake Huron. Totally renovated in 2015 by Medway Homes with over 4300 sqft of modern living space showcasing views of the lake throughout. The exterior of the home features Hardie board siding accented by wood grain finish metal surrounded by landscaped gardens, manicured lawns, concrete drive and a single car garage. Step inside and your welcomed into the home by a two storey foyer that’s accented with George Nelson bubble lighting. Lots of natural light and engineered hardwood oak flooring flow throughout. The main floor opens up to the living room with gas fireplace and stone feature wall. Kitchen with two tone custom cabinetry, quartz countertops, tile backsplash and enjoy cooking with the 5 burner gas stove or double built in ovens. BBQ patio off the kitchen. 2 bedrooms on the Main floor that can be combined for a 2 room guest suite within the home. Finish off the main floor with a full bathroom highlighting penny tile floor and quartz countertop. Upstairs features the spacious primary bedroom that showcases amazing views of the lake, walk in closet and cheater ensuite with heated floors, double vanity, soaker tub and glass tile shower. 2 additional bedrooms on the upper level both with built in beds and pull out trundle beds for added guests. The lower level walkout includes a media room with 96" TV, 2 additional bedrooms, another full bathroom with heated floors and laundry room with luxury vinyl plank flooring throughout. Your lakeside outdoor space is complemented by a two-tiered composite deck with a stone path leading to the lakeside fire pit area all along the path to your private sandy beach. Other outdoor features include the Artic Spa Wolverine Swim Spa, Generac back up power system for the home, Tesla charger in the garage and an in ground sprinkler system Click the link to watch the virtual tour: https://www.youtube.com/watch?v=2uemUUcFjnA   FOR SALE 26 Warwick Avenue, Grand Bend Listed at $550,000   Welcome to 26 Warwick Avenue in downtown Grand Bend just steps from the amenities of main street and the sandy shores of Lake Huron! This home has been extensively renovated both interior and exterior over the last few years! The home has an abundance of character and charm throughout. All situated on a 40 x 82 lot that is easily maintained with sandy backyard and no grass to cut! Would make an awesome cottage or investment property! The great room with cathedral ceilings and stone fireplace make it an amazing space to enjoy! Luxury vinyl plank flooring throughout the home offering two bedrooms and a full bathroom. With four built-in beds in one room and the bottom two on hinges to go up make this room very versatile. Bedrooms both feature an accent wood wall that has been white washed. The 10x8 loft make for a great space for extra guests. Beach vibes galore in this home! With further potential in the full unfinished basement. Backyard offers lots of space to enjoy with 8 x 10 porch leading down to fire pit and 14 x 16 deck with gazebo connected to 2 year old 8 x 12 garden shed. Newly renovated steps and retaining wall to full unfinished basement with outside shower to wash the sand off after a day at the beach. Turn key home with all the updates done and nearly all chattels and fixtures included! Click the link to watch the virtual tour: https://youtu.be/JLpxAHxGbGE   FOR SALE 10134 Beaver Dam Crescent, Grand Bend Listed at $1,100,000   Southcott Pines brick bungalow with updated modern interior situated among the mature tree setting of Grand Bend just a short walk to the sandy beaches of Lake Huron. Welcome to Beaver Dam Cr which is a quiet loop located just steps from the River Walk nature trail along the Old Ausable River channel. The outside features of the home include the brick exterior with covered front entrance, interlocking brick drive, oversized single car garage, steel roof (2019), back patio and lots of mature trees. Walk inside and you have 2800 sqft of well-appointed living space with pot lighting throughout, built in speakers in the primary areas, hardwood flooring on the main and high-quality laminate flooring in the finished lower level. Main floor living room has vaulted ceilings and a stone tile feature wall with gas fireplace for accent. Updated kitchen with granite countertops, stone tile backsplash, stainless steel appliances and center island with pendant lighting. Eating area off the kitchen with patio doors to the back deck. Spacious primary bedroom with additional guest bedroom on the main floor as well as the main floor bathroom that includes a soaker tub plus glass tile shower. Main floor laundry mudroom off the garage with 2 pc powder room. Downstairs the home keeps impressing, with the large family room that features a wood fireplace surrounded by field stone accent wall. Down the hall you have two additional bedrooms, full bathroom with tile glass shower and a large storage room for everyday essentials. The beach is only a short walk away down through several different beach access trails or drive your car to Sun Beach and park for the day. Walk to downtown or Southcott’s clubhouse with playground for the kids and all the amenities near by. This is your chance to live by the lake, surrounded by nature or have that perfect vacation spot to call yours. Click the link to watch the virtual tour: https://youtu.be/i7BOmeRjpNI   FOR SALE 33820 Antoinette's Lane, Bluewater Listed at $2,199,000   Modern lakefront living just north of Grand Bend with double car garage and private access to your own sandy beach along Lake Huron. Situated on a private setting with landscaped gardens, large lakeside back yard and panoramic lake views. Step inside the home and your greeted by an abundance of natural light with 24’ vaulted ceilings in the living room showcasing a wall of windows, with power blinds, overlooking the water and high-quality laminate flooring throughout. Lots of recent renovations throughout the home give you the modern elegance of a model home with the space for the whole family to enjoy. The kitchen features built in appliances (double oven, warming drawer, 6 burner gas stove, fridge, beverage cooler and microwave drawer) accented with the large island, quartz countertops and subway tile backsplash. Eating area off the kitchen with access to your patio space and includes built in cabinetry and bench seating. Living room with gas fireplace and large vaulted ceilings with beautiful lake views. Work from home in the main floor den or make it the 5th bedroom. Main floor updated laundry room and powder room to finish off this level. Custom glass staircase leads to the second floor that includes the primary bedroom suite featuring a spacious bedroom with lake views, walk in closet and renovated ensuite with double vanity, glass shower and tile heated floors, as well as a second bedroom and full bathroom. Finished lower level with 2 additional bedrooms, full bathroom, and family room with gas fireplace. Lots of outdoor living space with the lakeside patio that includes a covered side portion, great for the whole family to eat together on the included 16’ picnic table. Heading down to the lake you have gradual stairs leading to the sandy beach or a gravel path down the bank with shoreline protection in place and hydro at lake level. As a bonus you have a boat lift and ramp for your water toys with two winches. Come enjoy family memories by the lake today!     Click the link to watch the virtual tour: http:// https://youtu.be/18XNf79fu1Y Ontario Regional Referral Team 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! Check out the website for ORRT and learn more about the group: https://www.orrt.ca/ Get Your 2022 Grand Bend Locals Card!   Support Local With Your GRAND BEND Locals Card 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.   Click the link to see more information: https://grandbendlocals.com/ New To Lambton Shores? 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.  Click the link: https://www.lambtonshores.ca/en/living-here/new-to-lambton-shores.aspx?platform=hootsuite   Lambton County & Huron County Business Map   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.  Lambton County: http://www.shoplambton.ca Huron County: https://huron.maps.arcgis.com/apps/webappviewer/index.html?id=dc52efb9fee04e748431bb74c8335c9f Social Media   Have a great day everyone and don't forget to check out our social media sites like youtube, facebook, twitter and our website to stay up to date on all the latest listings. You can find the links to these various social media outlets above our information below. See the benefits of using a high quality drone and camera for videos and pictures to add content to each listing. GIVE US A LIKE ON OUR FACEBOOK PAGE BY CLICKING THE ICON BELOW! We love to hear about your experience with The PEDLAR Team so please feel free to head to our facebook page and leave a review. Click the link to leave a review: https://www.facebook.com/thepedlarteam/reviews/

If you or any of your friends and family are looking to buy or sell make sure to call us first! Referrals are the greatest compliment Check our website out by clicking the link below http://www.grandbendrealestate.com  Doug Pedlar      Mark Pedlar     Garrett Pedlar      Broker of Record                         Broker                        Sales Representative   519-902-4099    519-670-0746     519-872-0910  remaxdoug@hay.net           remaxmark@hay.net          remaxgarrett@hay.net

SOLD In Bluewater ~ Newer Bungalow

SOLD In Forest ~ Brick Bungalow

July Shows More Signs of Market Stabilization

 The local housing market continued to cool off in July, with 514 homes exchanging hands via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR). The housing supply made a steady gain from 2.8 months of inventory in June to 3.6 months of inventory in July, signaling movement toward a more balanced market.

 "With rising interest rates, July saw home sales activity continue to slow down," said Randy Pawlowski, 2022 LSTAR President. "Inventory has increased, showing more signs of a balanced market. The 3.6 months of inventory in July is in line with the months of inventory recorded during the same month in 2014 and 2015."

 While LSTAR's composite MLS® Home Price Index Benchmark Price of $624,400 was down 3.7% from June, this value is still 6.4% higher than the figure recorded for July 2021. Similarly, LSTAR's overall average home price fell slightly from $686,287 in June to $667,323 in July. Compared to the same period last year, this figure is still 7.1% higher. 

This represents a trend the majority of local markets are experiencing across the country, according to CREA."It's also important to note that every home transaction is unique and does not represent activity across the entire marketplace," Pawlowski said. "When markets fluctuate, your local REALTOR® can help you navigate through the changing environment, with professional guidance and real-time data whether you're looking to buy or sell."

Market Cools off in June

 

1,727 new residential listings and 663 home sales were recorded in June 2022 in the London-St. Thomas area via the MLS® System of the London and St. Thomas Association of REALTORS® (LSTAR).  The local housing supply increased from only 1.7 months of inventory in May to 2.8 months of inventory in June. 
"While the number of new listings is the highest ever recorded by LSTAR in the month of June, the number of June home sales is at its lowest point in the last ten years," said Randy Pawlowski, 2022 LSTAR President. "Our local market is cooling off rapidly, but home prices don't follow suit as fast," he added. 
LSTAR's composite MLS® Home Price Index Benchmark Price was down 7.8% from May, decreasing from $703,300 in May to $648,500 last month. However, this value is still 10.1% greater than the figure recorded in June 2021. Similarly, LSTAR's overall average home price fell from $762,397 in May to $686,287 in June. Compared to the same period last year, this figure is still 8.9% higher. 

"While the three consecutive interest rate hikes by the Bank of Canada succeeded to put some downward pressure on the home prices, the low housing supply is what keeps them relatively elevated. Even if the number of months of inventory increased to almost three, this value is still lower than normal. In a balanced market, the inventory should sit at 3.5 or 4 months," Pawlowski said. 

SOLD In Bluewater ~ Highlands 2 Cottage

SOLD In Port Franks ~ Vacant Residential Lot