tag:blogger.com,1999:blog-31854529162324962362024-03-05T16:21:43.319-05:00Live Play - Georgian BayReal Estate & Other News for Southern Georgian BayRick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.comBlogger480125tag:blogger.com,1999:blog-3185452916232496236.post-69896985845705581392019-04-22T13:15:00.000-04:002019-04-22T13:15:21.624-04:001st Quarter 2019 Southern Georgian Bay MLS® Market Report -<br />
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<span style="font-family: inherit;"><span style="color: black;"> Real estate activity for
the 1st quarter of 2019 across the Southern Georgian Bay region has </span>shown some improvement
from the slowdown we experienced in the second half of 2018 with stronger sales in specific
portions of the market particularly in the higher price segments.</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgBgra6MhbplkCcms190MGhnycFzxVqnkNXe22dQPyxQdugLCNpbUB3iwXAXmmzdNLOAlF1svQojZ5XVd2yPo-oublsQ9rDkkyLOK4upRodOuX9vulT8_y5PT3PRXrbkTJL1erBsCeWSg/s1600/YTD+Total+Sales.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgBgra6MhbplkCcms190MGhnycFzxVqnkNXe22dQPyxQdugLCNpbUB3iwXAXmmzdNLOAlF1svQojZ5XVd2yPo-oublsQ9rDkkyLOK4upRodOuX9vulT8_y5PT3PRXrbkTJL1erBsCeWSg/s200/YTD+Total+Sales.jpg" width="200" /></a><span style="font-family: inherit;"><span style="color: black;"><span style="mso-spacerun: yes;"> </span>MLS® dollar sales in both January and
February were at increased levels from the same time </span>last year but softened slightly
in March with sales for the month of $87.6 million down 5.2% from March 2018. Despite softer sales in March, total 1st
quarter residential dollar sales through the MLS® system of the
Southern Georgian Bay Association of REALTORS® (SGBAR) totalled </span><span style="font-family: inherit;">$201.9 million, an
increase of $12.9 million or 6.8% more than the 1st quarter of 2018.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">Once </span><span style="font-family: inherit;">again it is worth noting
that these results are for residential MLS® sales only including single </span><span style="font-family: inherit;">family homes, condominiums
and vacant lots.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">Commercial properties,
farms etc. are</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">excluded as are sales of
new homes made directly by developers outside of the local MLS®</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjlKfOzg5UdNIIixrKvZJC8PUaCesWCg8AiVpMovOYAK_qglnsBDXwx89ww_mz-4_3zM7EGT6uaYJYwMuJ4j2Dck_ipx7tYeVsCy62SQf85R1KuTqIfGGkOyJYrkibL6SYXVR9rD-lcvg/s1600/Sales+by+Month+Dollars.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjlKfOzg5UdNIIixrKvZJC8PUaCesWCg8AiVpMovOYAK_qglnsBDXwx89ww_mz-4_3zM7EGT6uaYJYwMuJ4j2Dck_ipx7tYeVsCy62SQf85R1KuTqIfGGkOyJYrkibL6SYXVR9rD-lcvg/s200/Sales+by+Month+Dollars.jpg" style="cursor: move;" width="200" /></a><span style="color: black;"><span style="font-family: inherit;">system. <o:p></o:p></span></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgTXah0u8pGVL19POhhBLPjCQ5BW-RgrmhUUsQFpUSB0h4ZQyGRAcDgHPvxRp2jopHyW_XHX6Qeow_L-d800JkCIPSGUhZrC6qUZ-jL65Hul4af8vkB1zkDakxIDeYZ88iK_3ARaWLd6w/s1600/Sales+by+Month+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgTXah0u8pGVL19POhhBLPjCQ5BW-RgrmhUUsQFpUSB0h4ZQyGRAcDgHPvxRp2jopHyW_XHX6Qeow_L-d800JkCIPSGUhZrC6qUZ-jL65Hul4af8vkB1zkDakxIDeYZ88iK_3ARaWLd6w/s200/Sales+by+Month+Units.jpg" width="200" /></a><span style="color: black;"><span style="font-family: inherit;"><span style="font-family: inherit;"> While year-to-date MLS® dollar sales have
increased over the first three months of 2018, unit </span></span></span><span style="font-family: inherit;">sales in 2019 through the
end of March are below last year. MLS®
unit sales in the 1st quarter totalled 386 properties,
down 10.2% from the 430 units sold in the 1st quarter of 2018. Sales start to ramp up in
January following the end of the holiday season and typically peak April through June when
properties start to look their best during the spring and early summer. Inventory levels of
properties listed for sale on the MLS® system also ramp up during this period, potential buyers
have more to choose from come spring but competition among sellers is also stronger. We have experienced a relatively harsh winter
which has made for less than ideal driving conditions,
this combined with cold temperatures has hampered property showings which is at least
partially responsible for the slow start to this year.</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEigv_oZWA1mqDlXeyeHuOeV8DQHQTd7O-DGeDE29jCJ5hteTDRBkUtUygSreBp_YZI0hYTntnSe7pPo1qP0vtpOQqA961b8QIi8xadnlDkUkmKLdYVwmPc1eWPjE07wopMhJcxo1jKWKA/s1600/Single+Family+Sales+By+Area.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><span style="font-family: inherit;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEigv_oZWA1mqDlXeyeHuOeV8DQHQTd7O-DGeDE29jCJ5hteTDRBkUtUygSreBp_YZI0hYTntnSe7pPo1qP0vtpOQqA961b8QIi8xadnlDkUkmKLdYVwmPc1eWPjE07wopMhJcxo1jKWKA/s200/Single+Family+Sales+By+Area.jpg" width="200" /></span></a><span style="font-family: inherit;"><span style="color: black;"><span style="mso-spacerun: yes;"> </span>Year-to-date MLS® single family home sales
across our market total 279 units a decrease of 5 </span>homes or 1.7% less than
the first three months of 2018. At the
same time we are seeing stronger single family
home sales in some area municipalities around the region which are reflected on the
accompanying chart. MLS® home sales in
Collingwood total 66 properties up 34.6% while sales in the
Blue Mountains of 48 homes is up a modest 6.6% from one year ago. All other area
municipalities have year-to-date single family home sales that are close to or slightly below the 1st
quarter of 2018.</span></div>
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<span style="font-family: inherit;"><span style="color: black;"><span style="mso-spacerun: yes;"> </span>While overall year-to-date MLS® dollar volume
through the end of March is ahead of last year </span>and unit sales are down,
certain price levels are showing some significant gains from one year ago particularly in the
upper price segments of the market.
Sales in these upper price ranges is what is driving total MLS®
dollar sales making up for the shortfall in unit sales. Sales in the $500,000 to $799,999 range
total 108 properties up 28.5% from one year ago. Sales from $1 to $1.499 million are up
slightly with 13 sales this year compared to 12 in the 1st quarter of
2018. Sales between $1.5 to
$1.999 million total 8 units which is four times greater than the sale of 2 properties sold in the
first three months of last years.
Similarly sales over $2 million have </span><span style="font-family: inherit;">doubled this year</span><span style="font-family: inherit;">with 4 MLS® sales
reported versus just 2 sold at this time last year.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">These numbers</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">clearly reflect that our
market continues to move more upscale especially in the Blue Mountains </span><span style="font-family: inherit;">where almost 50% of sales
above $750,000 in our market area take place.</span><span style="font-family: inherit;">
</span><span style="font-family: inherit;">Sales in the lower </span><span style="font-family: inherit;">price segments of our
market continue to remain weaker than last year particularly in the </span><span style="font-family: inherit;">$100,000 to $500,000 price
ranges.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">First it is important to note
that properties priced under the </span><span style="font-family: inherit;">$300,000 mark are getting
harder and harder to find unless they are perhaps a smaller and </span><span style="font-family: inherit;">older entry level home or
condominium. Sales under $100,000 in the
1st quarter of 2018 </span><span style="font-family: inherit;">totalled 32 units whereas
this year there we only 13 sales.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">During
the first three months of 2018 </span><span style="font-family: inherit;">there were 181 MLS® sales
in the $300,000 to $500,000 price category this year the number </span><span style="font-family: inherit;">has dropped 12% to a total
of 159 properties sold.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">Properties in
these price ranges represent a </span><span style="font-family: inherit;">prime segment of our
market where demand is strong but the inventory of available properties </span><span style="font-family: inherit;">listed for sale is low and
we suspect this trend may continue throughout 2019.</span></div>
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<span style="font-family: inherit;"><span style="color: black;"><span style="mso-spacerun: yes;"> </span>Overall we continue to experience a general
shortfall of inventory listed for sale on our local </span>MLS® system. Year-to-date, the number of new listings for
residential properties totals 674 units which is a modest 3%
increase above the number of new residential listing that came to market in the 1st quarter
of 2018. While demand still exceeds supply,
properties listed for sale are lingering on the
market longer before selling. For the
1st quarter of 2018 the average time-on-market before selling
was 47 days, for the first three months of 2019 that average number has increased to 56
days. The only exception to the
inventory shortage is in the upper price ranges of the market. Overall our MLS® system has 4.6 months of
available inventory listed for</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgQP7QWE9IFLxj1tTnXcFILNeOXRHQQfGKMTX4cIKgs4iDxmTZi3p9rkAwFiqbvApUS3wsfdGt5FCY6StilrMfXB1xUget-k04uk21s87gkRBvyB3XIvNaTZHYSiVJG8x0sc7rfNEIhQ/s1600/Sales+By+Price+Range.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgQP7QWE9IFLxj1tTnXcFILNeOXRHQQfGKMTX4cIKgs4iDxmTZi3p9rkAwFiqbvApUS3wsfdGt5FCY6StilrMfXB1xUget-k04uk21s87gkRBvyB3XIvNaTZHYSiVJG8x0sc7rfNEIhQ/s200/Sales+By+Price+Range.jpg" width="200" /></a><span style="font-family: inherit;"><span style="color: black;">sale.<span style="mso-spacerun: yes;"> </span>For residential properties priced in the $1
to $1.5 million range there is 8.5 months of </span>available inventory while
above $1.5 million there is 26.6 months of inventory listed for sale. For buyers looking to purchase
an upper end luxury home or ski chalet in the area there is an abundance of properties to
choose from making this a good time to buy the property that meets your needs and
budget. The level of MLS® listed
inventory overall however is showing signs of trending upwards which is encouraging for
those looking to buy especially in the lower price segments. Listing activity in both January and March
was above last year’s level in these two</span></div>
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<span style="color: black;"><span style="font-family: inherit;">months. <o:p></o:p></span></span></div>
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<span style="font-family: inherit;"><u><span style="color: black;">Price Range</span></u><span style="color: black; letter-spacing: 4pt;"> </span><span style="color: black; letter-spacing: 28pt;"><span style="mso-spacerun: yes;"> </span></span><u><span style="color: black;">Current # of Active Listings</span></u><span style="color: black; letter-spacing: 5pt;"> </span><span style="color: black; letter-spacing: 37.3333px;"> </span><u><span style="color: black;">Months of Inventory</span></u><span style="color: black;"> <o:p></o:p></span></span></div>
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<span style="color: black;"><span style="font-family: inherit;">Under $300,000 55 2.0 <o:p></o:p></span></span></div>
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<span style="color: black;"><span style="font-family: inherit;">$300,000 to $499,999<span style="letter-spacing: -2.0pt;"> 1</span>91 2.7
<o:p></o:p></span></span></div>
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<span style="color: black;"><span style="font-family: inherit;">$500,000 to $799,999 220 5.7
<o:p></o:p></span></span></div>
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<span style="color: black;"><span style="font-family: inherit;">$800,000 to $999,999 60 7.8
<o:p></o:p></span></span></div>
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<span style="color: black;"><span style="font-family: inherit;">$1.000 to $1.499 Million 57 11.4 <o:p></o:p></span></span></div>
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<span style="color: black;"><span style="font-family: inherit;">$1.500 to $1.999 Million 33 32.6 <o:p></o:p></span></span></div>
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<span style="color: black;"><span style="font-family: inherit;">$ 2 Million +2218.3 <o:p></o:p></span></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgQP7QWE9IFLxj1tTnXcFILNeOXRHQQfGKMTX4cIKgs4iDxmTZi3p9rkAwFiqbvApUS3wsfdGt5FCY6StilrMfXB1xUget-k04uk21s87gkRBvyB3XIvNaTZHYSiVJG8x0sc7rfNEIhQ/s1600/Sales+By+Price+Range.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><span style="font-family: inherit;"></span></a><span style="font-family: inherit;"><span style="color: black;"><span style="mso-spacerun: yes;"> </span>MLS® condominium sales during the 1st quarter
total 68 units, a decrease of 23% from the </span>first three months of 2018
when 89 condominium units were sold.
Some of this decrease stems from a significant number
of new condominium units being built and sold in the area by developers which are not
sold through the local MLS® system. A
number of condominium properties are also rented
out for the ski season and as the season winds down with spring now here some of these
condominium properties will undoubtedly get listed in the coming months.</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWdPlh9GzQCgpHPxKKvgk5i11lKiEcanq1OyUG1wnLQiDqNZUyUYg52Vm3D56YpUUsA2r2gQB1cP7p98Pi9M9kt4fthWgGuyTw62Pq7XhypMyf4l29k1bSKrWB5hhsalx6dvl2TV0c2A/s1600/Sales+By+Property+Type.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><span style="font-family: inherit;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWdPlh9GzQCgpHPxKKvgk5i11lKiEcanq1OyUG1wnLQiDqNZUyUYg52Vm3D56YpUUsA2r2gQB1cP7p98Pi9M9kt4fthWgGuyTw62Pq7XhypMyf4l29k1bSKrWB5hhsalx6dvl2TV0c2A/s200/Sales+By+Property+Type.jpg" width="200" /></span></a><span style="font-family: inherit;"><span style="color: black;"> In summary, o</span>verall we have experienced a slight shift in
the market. Sales are softer yet prices
thus far have remained relatively
stable. Buyers some of whom must meet
tighten mortgage rules and lenders are both being
cautious. With the odd exception, the
days of multiple offers with properties regularly
selling for well over their asking price are substantially diminished. To restore buyer confidence
as well as to help them meet the tighter lending rules two things need to happen. First we need to see an upturn in the number
of properties listed for sale and the arrival of spring will no
doubt bring that about as it typically does.
Cautious buyers and those that require mortgage
financing need more choices of what is available to purchase. Further, both buyers and sellers
may need to adjust their expectations in terms of what they as buyers can afford to pay whereas sellers may need to
accept more list at more realistic asking prices that are consistent with
today’s current market conditions. With
the heated market conditions we experienced in 2016
through to and including early 2018, many buyers got caught up in the multiple offer melee. More inventory listed for sale will further
serve to balance the market levelling the playing field
for both buyers and sellers alike.</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgOgWaiQCG1OwJEUoDFpLQWhixE85jP03ZpLBt0rv3WOk4LX6DOC5lNaeI8Bx1dlUwwQYrIg_DPlAaNclUDZs0rKIJr5gjM5cOpZ60_CSER-CyH0OayiLdxLk8LRnveOGDLfMR4FKGfVg/s1600/Listings+by+Month+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><span style="font-family: inherit;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgOgWaiQCG1OwJEUoDFpLQWhixE85jP03ZpLBt0rv3WOk4LX6DOC5lNaeI8Bx1dlUwwQYrIg_DPlAaNclUDZs0rKIJr5gjM5cOpZ60_CSER-CyH0OayiLdxLk8LRnveOGDLfMR4FKGfVg/s200/Listings+by+Month+Units.jpg" width="200" /></span></a><span style="font-family: inherit;"><span style="color: black;"><span style="mso-spacerun: yes;"> </span>As we head into the spring market it will be
interesting to see how the overall level of real </span>estate activity unfolds
through the balance of 2019. If you are
considering buying or selling in the months ahead I would
be delighted to discuss your particular needs and what would be the best strategy in helping
you meet you goals and objectives relative to real estate in the Southern Georgian Bay area. </span></div>
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<span style="font-family: inherit;"> Please feel free to <a href="http://www.rickcrouch.realtor/contact.cfm">Contact Me</a> of you have any questions or to discuss you specific real estate needs and or goals in 2019 or beyond.</span></div>
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Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-33473844049589056792019-03-21T12:43:00.003-04:002019-03-21T12:48:54.309-04:00Finding Your Piece of Paradise On The Water We have had a long cold winter and while I like many enjoy skiing, snowshoeing and other outdoor activities this time of year, I am now looking forward and I am ready for the warmer weather and especially the start of another cottage season.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjrvWo4TN9W3xRjr-qjxfyl42opIV535OvQRl29goimC5P3n4SFylk6dvBEHdFh9T3BAa-v7GeMkaEytduObGw3IaGwMezRquqRnO-XR0Elf4f_DH6YNf1vJfn4olQHan61yR7OmEU8Ig/s1600/Labelled.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="710" data-original-width="949" height="149" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjrvWo4TN9W3xRjr-qjxfyl42opIV535OvQRl29goimC5P3n4SFylk6dvBEHdFh9T3BAa-v7GeMkaEytduObGw3IaGwMezRquqRnO-XR0Elf4f_DH6YNf1vJfn4olQHan61yR7OmEU8Ig/s200/Labelled.jpg" width="200" /></a> Waterfront properties in the southern Georgian Bay area make up a significant part of our real estate market. In 2018 the sale of waterfront homes and condominium properties in Collingwood and surrounding municipalities totalled 111 properties with a combined value of just over $85 million. These sales ranged anywhere from modest cabins priced in the low $200,000 range to luxury high end homes over $2 million.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgBmBwZsNO-3DcoY26uUPihhqLSxScW3KRFDnJzWZHWQT6ItoKyMZgERdOGzrqfNa0qhtu8uMZxtNh0pjmNjc1h-PwxEirdVBhbe0bKv-s_UoYZEUonLJ1hpcoyzxnqwUZIVa6LrPvr6Q/s1600/IMG_9124.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="133" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgBmBwZsNO-3DcoY26uUPihhqLSxScW3KRFDnJzWZHWQT6ItoKyMZgERdOGzrqfNa0qhtu8uMZxtNh0pjmNjc1h-PwxEirdVBhbe0bKv-s_UoYZEUonLJ1hpcoyzxnqwUZIVa6LrPvr6Q/s200/IMG_9124.JPG" width="200" /></a> Growing up as a kid I was introduced to the cottage lifestyle on Manitoulin Island where my mother was born. My grandfather, a farmer on Manitoulin built a small cottage on the water and every Saturday after the farm chores were done we would make the three mile or so drive to the cottage to spend the balance of the weekend swimming and fishing with evening campfires. Not everyone is attracted to those activities but many are and owing a waterfront property is a dream for countless Canadians especially for those living in urban centres like Toronto that long for a cottage property to escape to.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi-mQ19yw20-5htgLfu5xiAHZsYcVnemq0bDCYyqes_k-M7HdAJjjx67P4GnUfVW5kAHfoVqJ7NDBPrJPiYcmHaATB_6YS2CJ0J_zsSIwzTrBtERNvN-Z1hSYukS0XdgTu0FiySd6BzzA/s1600/Lot+4+B.JPG" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="133" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi-mQ19yw20-5htgLfu5xiAHZsYcVnemq0bDCYyqes_k-M7HdAJjjx67P4GnUfVW5kAHfoVqJ7NDBPrJPiYcmHaATB_6YS2CJ0J_zsSIwzTrBtERNvN-Z1hSYukS0XdgTu0FiySd6BzzA/s200/Lot+4+B.JPG" width="200" /></a></div>
As stated above, owning a waterfront property is not for everyone nor can a real estate transaction involving the purchase or sale of a vacant waterfront lot, a modest seasonal dwelling or a full time home or cottage on the water be treated the same as buying a residential home in a typical urban subdivision. Having owned my own cottage for over 45 years I am well versed in what owning a waterfront property entails including added operating expenses and maintenance above your full time residence. Is it worth it? In my opinion absolutely. In addition I have listed and sold many waterfront properties in our market area several of which we well over $1 million. This is one segment of the real estate market when the value of waterfront properties has increased significantly over the years. As the saying goes when it comes to waterfront, "they are not making any more" so that along with the increased demand of consumers looking for their piece of paradise has and will no doubt continue to drive up prices higher.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhB-zx4K8o7ldDVs4hRQKH_99uiIqztWrimYdW46wuC4qsXnG39OXYM0QoAms0WHMrKmM8Oxs9lfB6SBEDPcJB-vix0cg7th_oFG0A-phrE2CnqA-i1_z9vFNLI5yg_9pTkL-VZkHFZUA/s1600/IMG_1355+%25282%2529.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="1200" data-original-width="1600" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhB-zx4K8o7ldDVs4hRQKH_99uiIqztWrimYdW46wuC4qsXnG39OXYM0QoAms0WHMrKmM8Oxs9lfB6SBEDPcJB-vix0cg7th_oFG0A-phrE2CnqA-i1_z9vFNLI5yg_9pTkL-VZkHFZUA/s200/IMG_1355+%25282%2529.jpg" width="200" /></a> Thinking about where we want to be five to ten years from now, my wife and I started to look two years ago at waterfront homes that were for sale on Mantoulin Island. My cottage is just that, a cottage (Bottom photo) versus a full time home and it will be left to my kids. Having not seen an existing property for sale that we liked, we started top contemplate building from scratch. Last summer we found the perfect property listed for sale which was an estate sale. A 1.5 acre waterfront lot nicely treed situated on the largest lake on Manitoulin, Lake Manitou and just 20 minutes from the cottage and other amenities. Not only was the property exactly what we wanted but it had some added benefits. The driveway and hydro was already installed along with a large 24' X 32' garage all of which would be $100,000 or more to replace. See accompanying photos.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0gbIAvEocnA_u2GdZ7iPFNKqwp4FD1JgX18hC6eltixyLkDE_90UXxCnw1rfvMc0cEJmuw1aIylYKv7XqZMwg7tVEft4zm9fhga9Cy7W9ZlCidkSER2BKbZJehGfX0CFikrb2QEoCrA/s1600/IMG_9113.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="133" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0gbIAvEocnA_u2GdZ7iPFNKqwp4FD1JgX18hC6eltixyLkDE_90UXxCnw1rfvMc0cEJmuw1aIylYKv7XqZMwg7tVEft4zm9fhga9Cy7W9ZlCidkSER2BKbZJehGfX0CFikrb2QEoCrA/s200/IMG_9113.JPG" width="200" /></a> As a REALTOR® I quickly did my own due diligence with the municipality and others which allowed us to go in with a cash offer, no conditions and a short closing date. The offer was accepted so we now own not one but two piece of waterfront real estate on Manitoulin Island.<br />
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This coming weekend March 21st to 24th is the <a href="https://shows.cottagelife.com/show/spring-cottage-life-show/?queries%5Bcategory%5D=waste-water-treatment#show-info">Cottage Life Show</a> in Toronto. My wife and I will be attending both days and have lined up a number of exhibitors we want to meet with to gather information on building. In my next post I will share the details that you need to be aware of when buying waterfront property. In the meantime take a lot at <a href="https://www.royallepage.ca/en/realestate/news/canadian-recreational-property-prices-forecast-to-appreciate-5-8-in-2018/">Royal LePAGE'S Annual Recreational Property Report</a> for a breakdown of the recreational property market across Canada.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhccLLZXV-XM-0TY_QKcvQyqPhICCtPOtfIlNDSYeEubO7B44rX8l4LCXd60ejWM3J8lVmbxOhzDqQ4wL5WbpV8I1f7Q52h_M708EwDmNI1R6xZ3jhRGZqANd6hG0D5k0p232p67ZDbbw/s1600/DJI_0113.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1200" data-original-width="1600" height="149" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhccLLZXV-XM-0TY_QKcvQyqPhICCtPOtfIlNDSYeEubO7B44rX8l4LCXd60ejWM3J8lVmbxOhzDqQ4wL5WbpV8I1f7Q52h_M708EwDmNI1R6xZ3jhRGZqANd6hG0D5k0p232p67ZDbbw/s200/DJI_0113.jpg" width="200" /></a> If buying a waterfront or other recreational property is on you wish list, please feel free to <a href="http://www.rickcrouch.realtor/contact.cfm">Contact Me</a> and I will be delighted to share my experience as a cottage owner and real estate Broker to help you find you piece of paradise in southern Georgian Bay.<br />
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<br />Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-45270595654501608842019-03-15T11:28:00.000-04:002019-03-18T15:36:14.748-04:00Southern Georgian Bay Real Estate Market Report - February 2019<br />
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<span style="font-family: "arial" , "sans-serif";"><span style="mso-spacerun: yes;">
</span>Real estate activity for the first two months of 2019 across the Southern
Georgina Bay region has shown an improvement from one year ago with stronger
sales in specific segments of the market.<o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEighS1602-aAKsWgtQM7R7qo78LLlDjNHMaEIykPHkTRA0KrsVctsvVbPgNcoHqbf64_iWQ-u1dP9SvTn5Q0WwCAXkuyGebS2069TjnI015haABv4tkddA4tU-SoQO0ZRADMnHqB66Uhg/s1600/YTD+Total+Sales.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEighS1602-aAKsWgtQM7R7qo78LLlDjNHMaEIykPHkTRA0KrsVctsvVbPgNcoHqbf64_iWQ-u1dP9SvTn5Q0WwCAXkuyGebS2069TjnI015haABv4tkddA4tU-SoQO0ZRADMnHqB66Uhg/s200/YTD+Total+Sales.jpg" width="200" /></a><span style="font-family: "arial" , "sans-serif";"><span style="mso-spacerun: yes;">
</span>Total year-to-date MLS® dollar sales as reported by the Southern
Georgian Bay Association of REALTORS® (SGBAR) through the end of February
totals $110.3 million, an increase of $20.2 million or 22% from the $90.1
million in sales for first two months of 2018.<span style="mso-spacerun: yes;">
</span>While on the surface this number shows a more robust real estate market
in our area from a year ago, year-to-date sales are $14.0 million or 11% below
the level of MLS® sales for the two first months of 2017.<span style="mso-spacerun: yes;"> </span>Once again it is worth noting that these
results are for residential MLS® sales only including single family homes,
condominiums and vacant lots.<span style="mso-spacerun: yes;"> </span>Commercial
properties, farms etc. are </span><span style="font-family: "arial" , sans-serif;">excluded.</span><span style="font-family: "arial" , sans-serif;"> </span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUk-z69pGadq6nBqoYxNutPcyBWBvfOqAVeL9PFVfgdVUJdFwKVjz9NRlI4_qLvtfWDpkzJmDOTqhmovV0EH7J6iInq8UKAHZtqMjzwLdXdPt71qpfMH-vrSXpmOjMFYKj_QFQcmTMpA/s1600/Sales+by+Month+Dollars.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUk-z69pGadq6nBqoYxNutPcyBWBvfOqAVeL9PFVfgdVUJdFwKVjz9NRlI4_qLvtfWDpkzJmDOTqhmovV0EH7J6iInq8UKAHZtqMjzwLdXdPt71qpfMH-vrSXpmOjMFYKj_QFQcmTMpA/s200/Sales+by+Month+Dollars.jpg" style="cursor: move;" width="200" /></a><span style="font-family: "arial" , "sans-serif";"> </span></div>
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<span style="font-family: "arial" , "sans-serif";"> While year-to-date MLS® dollar sales
have increased significantly (22%) over the first two months of 2018, unit
sales remain relatively weak. Through
the end of February MLS® unit sales total 208 individual properties, 10 units
more or just 5% above last year. The
chart below</span><span style="font-family: "arial" , sans-serif;">shows year-to-date 2019 versus 2018 sales
across the various price segments of the market with increases in the upper
price ranges most notably $500,000 to $799,999 and from $1.5 million and
higher.</span><span style="font-family: "arial" , sans-serif;"> </span><span style="font-family: "arial" , sans-serif;">The key segment of the market
wherein there is the greatest demand is down 11% from one year ago with 85
sales so far in 2019 compared to 96 last year.</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgWWFPrGzwKjrntaJYiJ334ANFEUgJ5JQlrI2z5yU02uxZndeBZ5TBnLb2nX0FvtGtroJ8ZXNbnQ0mE2JTUOgal3zCN0nbBe1kUpk_KHTN9q2oyhTNLYJAvukGQdj-pXPFng3DmuzqoVA/s1600/Sales+by+Month+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgWWFPrGzwKjrntaJYiJ334ANFEUgJ5JQlrI2z5yU02uxZndeBZ5TBnLb2nX0FvtGtroJ8ZXNbnQ0mE2JTUOgal3zCN0nbBe1kUpk_KHTN9q2oyhTNLYJAvukGQdj-pXPFng3DmuzqoVA/s200/Sales+by+Month+Units.jpg" width="200" /></a><span style="font-family: "arial" , "sans-serif";"><br /></span></div>
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<span style="font-family: "arial" , "sans-serif";"> Some of the current weakness in sales
is seasonal in nature. Sales start to
ramp up in January following the end of the holiday season and typically peak
April through June when properties start to look their best during the spring
and early summer weather. Inventory
levels of properties listed for sale on the MLS® system also ramp up during
this period, potential buyers have more to choose from but competition among
sellers is also stronger. </span><span style="font-family: "arial" , sans-serif;">Overall we experienced a general shortfall of inventory listed for sale
on our local MLS® </span><span style="font-family: "arial" , sans-serif;"> </span><span style="font-family: "arial" , sans-serif;">in 2016 through to
early 2018 at which time the market started to show signs of slowing down.</span><span style="font-family: "arial" , sans-serif;"> </span></div>
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<span style="font-family: "arial" , "sans-serif";"><o:p> </o:p></span><span style="font-family: "arial" , sans-serif;"> </span></div>
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<span style="font-family: "arial" , "sans-serif";"> While that situation exists in some
price segments of the market today, it is not universal across the region.<span style="mso-spacerun: yes;"> </span>As of this report, the amount of inventory
listed for sale in the various price segments varies greatly.<span style="mso-spacerun: yes;"> </span>The following is a summary of residential
properties listed for sale by price range and the "months of
inventory" shown is based on the current rate of sales that we have
experienced in these price segments over the past year. <o:p></o:p></span></div>
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<u><span style="font-family: "arial" , "sans-serif";">Price Range</span></u><span style="font-family: "arial" , "sans-serif";"><span style="mso-tab-count: 3;"> </span><u>Current
# of Active Listings</u><span style="mso-tab-count: 1;"> </span> <span style="mso-tab-count: 1;"> </span><u>Months of Inventory<o:p></o:p></u></span></div>
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<span style="font-family: "arial" , "sans-serif";">Under $300,000<span style="mso-tab-count: 3;"> </span><span style="mso-spacerun: yes;"> </span>48<span style="mso-tab-count: 4;"> </span><span style="mso-spacerun: yes;"> </span>1.8<o:p></o:p></span></div>
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<span style="font-family: "arial" , "sans-serif";">$300,000 to $499,999<span style="mso-tab-count: 3;"> </span><span style="mso-spacerun: yes;"> </span>152 <span style="mso-tab-count: 4;"> </span><span style="mso-spacerun: yes;"> </span>2.1<o:p></o:p></span></div>
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<span style="font-family: "arial" , "sans-serif";">$500,000 to $799,999<span style="mso-tab-count: 3;"> </span><span style="mso-spacerun: yes;"> </span>182<span style="mso-tab-count: 4;"> </span><span style="mso-spacerun: yes;"> </span>4.8<o:p></o:p></span></div>
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<span style="font-family: "arial" , "sans-serif";">$800,000 to $999,999<span style="mso-tab-count: 3;"> </span><span style="mso-spacerun: yes;"> </span>54<span style="mso-tab-count: 5;"> </span>7.0<o:p></o:p></span></div>
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<span style="font-family: "arial" , "sans-serif";">$1.000 to $1.499 Million<span style="mso-tab-count: 2;"> </span><span style="mso-spacerun: yes;"> </span>48<span style="mso-tab-count: 5;"> </span>8.7<o:p></o:p></span></div>
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<span style="font-family: "arial" , "sans-serif";">$1.500 to $1.999 Million<span style="mso-tab-count: 2;"> </span><span style="mso-spacerun: yes;"> </span>32<span style="mso-tab-count: 4;"> </span><span style="mso-spacerun: yes;"> </span>29.9<o:p></o:p></span></div>
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<span style="font-family: "arial" , "sans-serif";">$2 Million +<span style="mso-tab-count: 4;"> </span><span style="mso-spacerun: yes;"> </span>29<span style="mso-tab-count: 4;"> </span><span style="mso-spacerun: yes;"> </span>25.0 <span style="mso-tab-count: 1;"> </span><o:p></o:p></span></div>
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<span style="font-family: "arial" , "sans-serif";"><span style="mso-spacerun: yes;">
</span>What does this mean to sellers and buyers?<span style="mso-spacerun: yes;"> </span>While year-to-date residential sales between
$500,000 to $799,999 are up 68% from a year ago, there is currently well over 4
months worth of inventory listed for sale to choose from.<span style="mso-spacerun: yes;"> </span>Similarly, sales in the $1.5 to $1.9 million
dollar range are 10 times greater than in the first two months of 2018 yet with
32 active MLS® listings that is almost 30 months worth of inventory while
properties listed for sale priced above $2 million represents 25 months of
inventory.<o:p></o:p></span></div>
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<span style="font-family: "arial" , "sans-serif";"><span style="mso-spacerun: yes;">
</span>The level of MLS® listed inventory overall however is showing signs of
trending upwards which is encouraging for those looking to buy especially in
the lower price segments.<span style="mso-spacerun: yes;"> </span>New MLS®
residential listings in January were up 8.6% from one year ago and totalled 190
units.<span style="mso-spacerun: yes;"> </span>New listing activity then
slipped in February totalling 192 properties down 10.7% from 215 new listings
that came to market in February of last year.<span style="mso-spacerun: yes;">
</span>There is no question that we have had a harsh winter with adverse
snowfalls and bad driving conditions, hardly ideal conditions for buyers to
view properties for sale and many sellers have held off listing their home until <o:p></o:p></span><span style="font-family: "arial" , sans-serif;">conditions improve with the arrival of
spring.</span><span style="font-family: "arial" , sans-serif;"> </span><span style="font-family: "arial" , sans-serif;">Many sellers may also be fearful
that they have perhaps missed the window of opportunity to maximize the sale
price of their home or condominium.</span><span style="font-family: "arial" , sans-serif;"> </span><span style="font-family: "arial" , sans-serif;">I
have in fact had clients of my own who live in the Greater Toronto Area state
that selling their home now will net them a lower price than 12 months ago.</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRHRa5hVNy-X7QrCtlK7srr8EoXbYbYhcglan4RDoGFe6MQdV0u8SxAdVNaJjdtSInPfvrGtIB7cR2Fsknke3zRFnmDwjyYjOLWeCJ-sbaoW6-_XPrCHrpk9dma7bws-9239YE0qVHMA/s1600/Sales+By+Price+Range+Chart.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRHRa5hVNy-X7QrCtlK7srr8EoXbYbYhcglan4RDoGFe6MQdV0u8SxAdVNaJjdtSInPfvrGtIB7cR2Fsknke3zRFnmDwjyYjOLWeCJ-sbaoW6-_XPrCHrpk9dma7bws-9239YE0qVHMA/s200/Sales+By+Price+Range+Chart.jpg" width="200" /></a><span style="font-family: "arial" , "sans-serif";">
Year-to-date MLS® single family home sales across our market total 90
units an increase of 29 properties or 48% more than the first two months of
2018. Again this is primarily driven by strong
sales in the $500,000 to $799,999 price range as well as the strength of the
upper end market $1.5 million and higher.
The Blue Mountains and Wasaga Beach are the only municipalities in the
region with single family home sales equal to or greater than last year, all
others ie: Cleaview, Collingwood, the Municipality of Meaford and Grey
Highlands are all down anywhere from 25% to over 60% in home sales year-to-date. Yes the number of units is small and the
winter has made property showings difficult but we are not the only area where
sales are down and it's not all due to "new" home sales as some would
claim. </span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjvPNN_qGMJtmwjoOzaS7dOJ1kSpZzYtJ1V8ISYMFYSohLSJcyAeiX5aTK5HLq8zn62BKIPkuFRLE5qOu4LeyE55YAuXSLQLZY9LiBf9iCdn9s1ZQMsxM_oTTFqZF1QF2KKY2_Vem-voQ/s1600/Listings+by+Month+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjvPNN_qGMJtmwjoOzaS7dOJ1kSpZzYtJ1V8ISYMFYSohLSJcyAeiX5aTK5HLq8zn62BKIPkuFRLE5qOu4LeyE55YAuXSLQLZY9LiBf9iCdn9s1ZQMsxM_oTTFqZF1QF2KKY2_Vem-voQ/s200/Listings+by+Month+Units.jpg" width="200" /></a><span style="font-family: "arial" , "sans-serif";"> <o:p></o:p></span><span style="font-family: "arial" , sans-serif;">
With respect to the local condominium market, year-to-date sales of 23
units is down a modest 3 properties or 11% from a year ago. The demand for condominiums in our area
continues to grow and this is not unique to southern Georgian Bay. A </span><a href="https://www.teranet.ca/wp-content/uploads/2018/03/Teranet_MIR_Mar2018-ilovepdf-compressed.pdf"><span style="font-family: "arial" , "sans-serif";">report just released by
"Teranet"</span></a><span style="font-family: "arial" , sans-serif;">
who is a leading provider of land registry services and real estate data insights
across Canada found that in 2017 over 25% of residential real estate
transactions across the country were for condominium properties. Condominium ownership is popular with both
baby boomers looking to downsize with a less maintenance intensive lifestyle as
well as for first time home buyers that are finding themselves priced out of
single family home ownership. After
looking at the residential sales data for our market in 2018 I found that MLS®
condominium re-sales in our market accounted for 24% of the 1,800 plus MLS®
residential sales in our region last year.
Year-to-date sales reflect that for the first two months of 2019, condo
sales have dipped to 20% of all residential sales in the area but this is
likely to change in the months ahead as a significant number of area condos get
leased our for the ski season and with that season winding down we </span><span style="font-family: "arial" , sans-serif;">are seeing more condo units come onto
the market for sale.</span><span style="font-family: "arial" , sans-serif;"> </span><span style="font-family: "arial" , sans-serif;">As of this report
there are 110 active MLS® condo listed for sale which represents three months
of inventory.</span><span style="font-family: "arial" , sans-serif;"> </span><span style="font-family: "arial" , sans-serif;">As previously </span><span style="font-family: "arial" , sans-serif; font-size: 11pt; line-height: 115%;">mentioned, several
new condominium projects in the area are adding additional new condominium units
into the market primarily in Collingwood, the Blue Mountains and Wasaga Beach
and the sale of these newly constructed units generally do not flow through the
local MLS® system. For further
information on the area's condo market visit my website<a href="https://www.blogger.com/goog_146828728"> </a></span><span style="font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 115%;"><b><span style="font-family: "arial" , "sans-serif";"><a href="http://www.rickcrouch.realtor/">www.rickcrouch.realtor</a></span></b></span><span style="font-family: "arial" , sans-serif; font-size: 11pt; line-height: 115%;"> for a copy of my
latest </span><span style="font-size: 11pt; line-height: 115%;"><span style="font-family: "arial" , sans-serif;"><a href="http://www.rickcrouch.realtor/public_docs/documents/2018%20Southern%20Georgian%20Bay%20Condominium%20Market%20Report.pdf">"Condo Communique´"</a></span><span style="font-family: "calibri" , sans-serif; font-weight: bold;"> </span></span><span style="font-family: "arial" , sans-serif; font-size: 11pt; line-height: 115%;">newsletter detailing the 2018 Southern Georgian
Bay Condominium Market. </span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirEwXXs7or9GsFtt0qg097yZ7kFP3mQhWHzRbr9jLAL5Eh4CdoYoxYrwliicyCMHbR6qa83ZqRauTStnVaj0999ah8vqs5W0V8hHThTfZoFqGA055UrEyyAv17W0qZv3_5bHDwwkp_zA/s1600/Single+Family+Sales+By+Area.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirEwXXs7or9GsFtt0qg097yZ7kFP3mQhWHzRbr9jLAL5Eh4CdoYoxYrwliicyCMHbR6qa83ZqRauTStnVaj0999ah8vqs5W0V8hHThTfZoFqGA055UrEyyAv17W0qZv3_5bHDwwkp_zA/s200/Single+Family+Sales+By+Area.jpg" style="cursor: move;" width="200" /></a><span style="font-family: "arial" , sans-serif; font-size: 11pt; line-height: 115%;"><br /></span></div>
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<b><span style="font-family: "arial" , "sans-serif";">Summary</span></b></div>
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As reported in my last newsletter , the market has shifted, buyers and
mortgage lenders are both being cautious.
With the odd exception, the days of multiple offers and properties
selling for well over their asking price are gone. To restore buyer confidence as well as to
help them meet the tighter lending rules two things need to happen. First we need to see an upturn in the number
of properties listed for sale and the arrival of spring will no doubt bring
that about as it typically does.
Cautious buyers and those that require mortgage financing need more
choices of what is available to purchase.
With the heated market conditions we experienced in 2016 through to
early 2018, too many buyers got caught up in the multiple offer melee and in
many cases I personally feel they over paid. Banks are fearful of buyers over extending
themselves and on occasion financing is not approved if the appraisal comes in
less than what the buyer is willing to pay. More inventory will further serve to balance
the market evening the playing field for both buyers and sellers. Lastly, sellers and to some degree the real
estate community needs to accept the fact that the market has changed and listing
a property for sale with an asking price that is significantly above fair
market value is unlikely to attract a willing buyer(s) nor will it help that
buyer(s) to secure mortgage financing if they need it.<o:p></o:p></span></div>
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As with other facets of our profession I watch our MLS® system activity
closely on a daily basis and I will continue to report on meaningful data that
is applicable to the real estate market in our area throughout the year. In the meantime if you have any questions
please feel free to contact me at any time. A Free PDF copy of this <a href="http://www.rickcrouch.realtor/public_docs/documents/February%202019%20-%20Southern%20Georgian%20Bay%20Market%20Report.pdf">Market Report</a> and others is available on my website at: <a href="http://www.rickcrouch.realtor./">www.rickcrouch.realtor.</a><o:p></o:p></span></div>
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<br />Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-43402778865454560412019-03-02T14:53:00.001-05:002019-03-02T15:08:36.280-05:00The Changing Retail Landscape People often say to me "you are really smart" and I beg to differ. As a kid I was an average student and I have never been afraid or embarrassed to share the fact that I repeated grade 3. At some point however things changed and I became almost obsessed with learning and being "informed" about what goes on in the world especially business and while I am flattered by comments where people say I am smart, there is a difference between exceptionally intelligence and being knowledgeable through information gathering. <br />
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Early in my career I spent several years in and working up through the retail sector including close to 10 years with Canadian Tire. It was a great experience, I learned a lot and over the years it has served me well as I advanced through several executive management positions in both Canada and the U.S. mostly in the manufacturing sector before entering the real estate profession. Even today I am a voracious reader and ever day I awake thinking "what can I learn today?" I have also tried to impart this attitude in my kids.</div>
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As a REALTOR<span style="font-family: "calibri" , sans-serif; font-size: 11pt;">®</span> I follow what's happening in the market very closely and not just in the residential but also in the commercial real estate sector as well, particularly retail. Retail like many other segments of the economy such as manufacturing has gone through wide scale change and recent announcements would indicate it is far from over. Think of the many long standing retailers we have seen disappear, Eatons, Simpsons, Sears, Woolworths, Woolco, Towers, K-Mart, Zeller's and let's not forget about Target's disastrous and short lived expansion into Canada.</div>
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The next casualty I have been expecting to fall is Hudson's Bay. Their stores are for the most part dated, poorly merchandised with products that in my opinion are over priced and offer poor value for consumers. In late February Hudson's Bay announced they were closing their <a href="https://www.forbes.com/sites/warrenshoulberg/2019/02/22/hbc-closing-home-outfitters-20-saks-off-fifth-stores-as-its-teardown-continues/#5025e6fc66c0">Home Outfitters</a> stores and some Saks Off Fifth locations claiming that it will allow them to "further streamline their retail portfolio....." This could prove to be too little too late.</div>
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Information just released indicates that clothing retailer <a href="https://www.680news.com/video/2019/03/02/gap-to-close-230-stores-unknown-amount-in-canada/">Gap is closing 230 stores</a> in Canada and the U.S. and at the same time as Hudson's Bay announced the <a href="https://www.forbes.com/sites/warrenshoulberg/2019/02/22/hbc-closing-home-outfitters-20-saks-off-fifth-stores-as-its-teardown-continues/#5025e6fc66c0">Home Outfitters</a> closing <a href="https://globalnews.ca/news/4975274/payless-shoesource-stores-closing-canada/">Payless Shoes</a> was doing likewise for their retail outlets across Canada.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj2Ye3C5dr13wCxLembkUBeCyppJA8igXCjIhyphenhyphenroXO2j2g5R0QNwkfE5lZj-05NQIvb_ZaR3a_X5k4hJy_QS0M0DJkV0Zuuw8o9_2twrEnDB-kHop6ocjGGTi6qKS90JdLtC_R7T333yQ/s1600/Sears+2.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="982" data-original-width="1600" height="196" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj2Ye3C5dr13wCxLembkUBeCyppJA8igXCjIhyphenhyphenroXO2j2g5R0QNwkfE5lZj-05NQIvb_ZaR3a_X5k4hJy_QS0M0DJkV0Zuuw8o9_2twrEnDB-kHop6ocjGGTi6qKS90JdLtC_R7T333yQ/s320/Sears+2.jpg" width="320" /></a> Online shopping through the likes of Amazon is taking a lot of heat for the demise of many bricks and mortar retail outlets but I am not convinced that they alone are entirely to blame. Let's face it, we are an aging population and personally as I get older I find that I need less. We instructed our kids not to buy us Christmas gifts as we need nothing. Even when I am in need of or in the market form something I expect value whether it's for cloths or a car. A dress shirt at the Hudson's Bay for $130 is not in my opinion good value no matter how nice it may be. In addition I no longer find traipsing around a huge mall fun. Yesterday while in Barrie for a medical appointment I did visit Georgian Mall. The first thing that jumped out at me was that there is still a Sears sign on the exterior of mall surrounded by peeling paint. It's been over a year since Sears announced they were shutting down their Canadian stores. I am surprised that this sign hasn't been taken down and the building freshened up a bit to help attract shoppers at a time when there are other options.</div>
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I will confess that I do some shopping online including Amazon which is typically not for cloths especially for shirts, pants, and shoes etc. that you really needs to try on. While <a href="https://www.costco.ca/">Costco</a> has a good prices on clothing, the lack of dressing rooms makes size selection a bit awkward.</div>
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Overall I believe the real issue at hand is that we are simply "over retailed" relative to demand. Some retailers have expanded too aggressively through store expansion and acquisition much of it resulting in huge debt loads that they now find they cannot afford. I also believe that in recent years retailers have benefited from increased consumer spending driven by low interest mortgages, home equity loads, credit cards and other sources of money. Many real estate markets across Canada slowed in 2018 and this trend is expected to continued for the next year or two. If home price appreciation slows or worse drop even slightly, this will certainly have an impact on consumer spending so to place all of the blame on online shopping is neither a fair or accurate analysis of what might really be going on with retail.</div>
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As it has been said many times, we are in the "information age" and I am a great believer that acquiring accurate and timely information is knowledge which is why I endeavour to absorb as much knowledge as I can. It's not about having a negative attitude it's about been informed so I can be a better person and in the case of real estate so I can provide in depth, accurate and relevant information in order to best serve my own needs and those of my valued real estate clients.</div>
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What are your thoughts?</div>
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Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-42685845921740403642019-02-28T10:51:00.002-05:002019-02-28T10:51:18.343-05:00Consumers Want & Are Entitled To More Real Estate Data Over the past few years it seems that real estate has become one of the if not the hottest topics out there. I get stopped on the street and in the grocery store by people (some of whom I do not know) asking me "how's the market or "what's going on with real estate?" Not only is real estate of interest from an investment standpoint but judging by the myriad of home improvement shows on TV, home decorating, renovating, buying a second property for vacation purposes and or just moving up to something larger place are all playing a role in our fascination with real estate.<br />
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Lately there has been an added emphasis both inside and outside the real estate community about a number of so-called "disruptive" new players entering the Canadian real estate market some of which are coming from the U.S. Many have new "business models" removing the buying and particularly the selling process away from REALTORS® putting it into the hands of consumers alleging that there are considerable savings to be had in the form of not paying commission to a real estate salesperson and their brokerage. A <a href="https://www.cbc.ca/news/business/redfin-canada-real-estate-1.5014763">recent story </a>with CBC about this trend asked "Is it the early days of a real estate revolution?" It may not be a revolution but yes things are changing.</div>
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Technology has played a huge role in our daily lives and real estate is no exception. When I entered the real estate profession back in 2001 it was the almost the pre-Internet era and we still had MLS® catalogues that were printed by weekly. By the time the catalogue was received many of the properties were already sold. When the first "online" MLS ® systems started to appear we could load photos of homes online albeit about three. Photo capacity was increased so as to permit nine, then thirty. Now the number of photos we can upload is almost unlimited in addition to floor plans, virtual tours etc.</div>
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Amongst the new players entering the Canadian real estate market are <a href="https://www.zillow.com/homes/for_sale/Toronto-ON/pmf,pf_pt/792680_rid/globalrelevanceex_sort/43.921142,-78.855057,43.494277,-79.901505_rect/9_zm/">Zillow</a>, <a href="https://www.redfin.com/">Redin</a> and an <a href="https://purplebricks.ca/on?utm_source=google&utm_medium=cpc&utm_campaign=1669868869&utm_content=323910808302&utm_term=purplebricks%20canada&gclid=EAIaIQobChMI2vSW6tPe4AIVNCCtBh2vWAiBEAAYASAAEgJ7ffD_BwE">Purplebricks</a> who are based in Britain. Whether these so called disruptors "revolutionize" our market remains to be seem but there is no question the real estate ;landscape is changing. Some of these companies (and others) have raised tens if not hundreds of millions of dollars in investor financing yet they have yet to make any profit.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhbKx9omgE_jPk57_YgiTFLDKrOWy_f21E6Y-kbA83woMDkmR53zoqbYLUOVx9OT5b1917wqeTU1HjjCT6X_frWFMI7rb8ipTz9O9WeLZV1x-B67TksKmtGhQeRUOxTwyi24BvRT0-B1w/s1600/My+SOLD+Sign.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhbKx9omgE_jPk57_YgiTFLDKrOWy_f21E6Y-kbA83woMDkmR53zoqbYLUOVx9OT5b1917wqeTU1HjjCT6X_frWFMI7rb8ipTz9O9WeLZV1x-B67TksKmtGhQeRUOxTwyi24BvRT0-B1w/s320/My+SOLD+Sign.jpg" width="320" /></a> Consumers want, need and in my opinion are entitled to more information that will assist them with their real estate buying and selling decisions. As real estate professionals it is our responsibility to help them <u>every step of the wa</u>y<u> </u> with their real estate buying and selling needs and along with the changes that have already taken place along with those yet to come, we need to adjust our roles in order to provide greater consumer value to the real estate buying/selling transaction. As professional REALTORS® we need to be the providers of relevant and helpful consumer centric information rather than the self imposed "gatekeepers" of said information.<br />
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On the the things consumer want is better access to data particularly for properties that have "SOLD." Last year the <a href="https://www.canada.ca/en/competition-bureau/news/2017/12/federal_court_ofappealupholdsdecisioninfavourofrealestateinnovat.html">Toronto Real Estate Board (TREB) lost a long standing case</a> with the Competition Bureau claiming that releasing sold information etc. posed a threat to privacy issues. As a result of the courts ruling, consumers can expect to see sometime in the near future more information available to the public. Typically our practice is not to release MLS® "sold" information on a property until the sale has closed. Sales sometime do fall apart and don't close be it for financing or other reasons. As a consumer, you would be both unhappy and disadvantaged if the sale price of your property was freely given out, the sale was not completed and the property have to be put back on the market for sale. Would you want the world to know what you accepted or are prepared to take for your home? I suspect not.<br />
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I will report further on this subject in future posts, in the meantime I would love to hear your comments or feel free to Contact me if you have any questions or concerns as it relates to your particular real estate situation <a href="mailto:rickcrouch@propertycollingwood.com">rickcrouch@propertycollingwood.com</a>.<br />
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Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-31520762355625623792019-02-14T14:23:00.002-05:002019-02-14T14:36:59.358-05:00Real Estate Mistakes Happen.....That Shouldn't!<div>
An interesting article is circulating online about the unfortunate situation that a couple in the U.S. found themselves in regarding property they own. See <a href="https://www.tmj4.com/news/local-news/family-calls-out-zillow-over-real-estate-mistake?fbclid=IwAR1mpA1oOW1nmNXO5mklx4WopPW2GkwjbsJ62XOFD5sw_gOuJxCB-ObBacc">"Local family calls out Zillow over real estate mistake."</a></div>
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The incident in question involved the owners home on Lake Geneva which is located near the Illinois/Wisconsin border north of Chicago. I lived in Chicago for four years and I am very familiar with Lake Geneva as I boated there. It has a history as being the summer playground of Chicago's who's who including the Wrigley gum and Schwinn bicycle family's plus it was the location of the first <a href="https://www.grandgeneva.com/about/grand-history">Playboy Resort Hotel</a> in the U.S. which opened in 1968. </div>
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The property in question was apparently listed for sale on <a href="https://www.zillow.com/on/">Zillow</a> a large online real estate portal in the U.S. and they are now in Canada and was stated as being in foreclosure when in realty it wasn't. The owners owned outright with no mortgage and it was not even for sale. <a href="https://www.zillow.com/on/">Zillow</a> was apparently quick to realize the mistake and withdrew the listing. The question to ask is how did this happen in the first place?</div>
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Consumers often question the value that we as REALTORS® bring to the real estate transaction. As I have stated in the past and for those that may be unfamiliar with our profession, in Ontario as in most parts of Canada, we operate under law which in Ontario is the Real Estate and Business Brokers Act. Both the "Act" and the Canadian Real Estate Association (CREA) have strict Code of Ethics guidelines that those of us licensed top practice real estate must adhere to. Mistakes like this shouldn't happen and as per Article 4 of the CREA Code <i><span style="font-family: Arial, Helvetica, sans-serif; font-size: 11.0pt; line-height: 115%;"><b>"A REALTOR® has an obligation to discover
facts pertaining to a property which a prudent REALTOR® would discover in order
to avoid error or misrepresentation."</b></span></i><br />
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Whether I am representing a Seller or a Buyer, I routinely verified everything regarding a property from room and lot sizes, to taxes, zoning and other matters. I know first hand of a recent transaction outside of the local real estate market where the buyer of a $950,000 property sued the seller for $750,000 alleging misrepresentation. The case dragged on for two years with the seller and the two REALTORS® via their insurance paying out over $130,000 just to make the matter go away.</div>
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That is a lot of money in anyone's books, more importantly you can't put a value on the worry and stress that an ordeal like this has on you plus there is the added cost of legal fees. Don't let this happen to you. Whether you are buying or selling hire a REALTOR® that you feel confident with and don't be afraid to ask any questions regarding matters that are of importance to you. It's all part of what we should know and the services we provide as real estate professionals.</div>
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<a href="https://www.zillow.com/on/">Zillow</a> is now making inroads in Canada. The U.S. real estate market is a very different from what we have in Canada. There is no "national" MLS® system in the U.S. like we have in this country. Like their banking industry the U.S. market in terms of MLS® coverage is very fragmented. Only time will tell how successful <a href="https://www.zillow.com/on/">Zillow</a> becomes here, watch this blog for future posts and updates. </div>
Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-17828413239168544302019-01-30T09:05:00.000-05:002019-02-05T00:26:17.964-05:002018 Year End Real Estate Market Review <span style="font-family: inherit;"><span style="font-family: "arial" , sans-serif;">Following two years of record sales activity across the southern
Georgian Bay area with MLS® dollar sales exceeding $1 billion, real estate
activity slowed in 2018 as it did in many market across the country. </span><span style="font-family: "arial" , sans-serif;"> </span><span style="font-family: "arial" , sans-serif;">MLS® sales in our region for 2018 as reported
through the Southern Georgian Bay Association of REALTORS® (SGBAR) totalled
$956.2 million a decrease in dollar volume of 9% and 8% for 2017 and 2016
respectively.</span><span style="font-family: "arial" , sans-serif;"> </span><span style="font-family: "arial" , sans-serif;">Further, MLS® unit sales were
down 22% in 2018 versus 2017 and totalled 2,083 properties, 24% fewer than the
number sold in 2016.</span><span style="font-family: "arial" , sans-serif;"> </span><span style="font-family: "arial" , sans-serif;">These results
include MLS® sales of all property types including residential, commercial and
farms. (Click on each graph to enlarge).</span></span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEggxR0Z0c3ojEHBRCXffdMOaJrJ5y9yn-kyLFRLN56dHUzY6S7Ks4Xi1L1N7tPg4hRIBYLFCWVd3R7idAVZqM-u0KRvgxMXj_dR2MURnMMSDPnqP_zpCA4mS9L_YAYwqVWg66jL-qE1hg/s1600/Total+2018+YTD+Sales+in+Dollars.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEggxR0Z0c3ojEHBRCXffdMOaJrJ5y9yn-kyLFRLN56dHUzY6S7Ks4Xi1L1N7tPg4hRIBYLFCWVd3R7idAVZqM-u0KRvgxMXj_dR2MURnMMSDPnqP_zpCA4mS9L_YAYwqVWg66jL-qE1hg/s320/Total+2018+YTD+Sales+in+Dollars.jpg" width="320" /></a><span style="font-family: inherit;"><span style="mso-spacerun: yes;">
</span>Personally, I watch the real estate statistics in our area and elsewhere
very closely.<span style="mso-spacerun: yes;"> </span>Our </span><span style="font-family: inherit;">role as REALTORS® is to assist our
clients in making informed and knowledgeable decisions with respect to their
real estate buying and selling needs.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">We
need to know the numbers to best inform our clients and that is especiallyimportant
when the market has shifted to a slower pace as it now has.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">With both MLS® unit and dollar sales in 2018
below the levels </span><span style="font-family: inherit;">we saw in 2017 and 2016 the question
everyone is asking is why?</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">After reviewing
all of the data for last year as well as for 2016 and 2017, I have made several
observations.</span><span style="font-family: inherit;"> </span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjFrAkhdJGSfc4wpJ5npHz8WhFOA63lfQCKc0W5bH4ziZin-Y7xnYp6Wi2FUFld2x3CZ1QyUhRwsvyb_7JduuXC2Fs7NsInTKILDmmoILbEe0ChHREEb0sNxFdFC9TE7tixZUokb4DmWg/s1600/Monthly+2018+Sales+Dollars.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjFrAkhdJGSfc4wpJ5npHz8WhFOA63lfQCKc0W5bH4ziZin-Y7xnYp6Wi2FUFld2x3CZ1QyUhRwsvyb_7JduuXC2Fs7NsInTKILDmmoILbEe0ChHREEb0sNxFdFC9TE7tixZUokb4DmWg/s320/Monthly+2018+Sales+Dollars.jpg" width="320" /></a><span style="font-family: inherit;"><span style="mso-spacerun: yes;">
</span>First, we have seen the tightening up of mortgage lending rules along
with the implementation of mortgage stress tests.<span style="mso-spacerun: yes;"> </span>These changes affect first time buyers, those
looking to move up to a larger property (mortgage) or renewing an existing
mortgage.<span style="mso-spacerun: yes;"> </span>Note, if you are renewing a
mortgage with your current lender a stress test is not required.<span style="mso-spacerun: yes;"> </span>This combined with the modest increase in
lending rates and the implementation of a foreign buyers tax in Ontario and
British Columbia all played at least some role in slowing the market down.<span style="mso-spacerun: yes;"> </span>These steps were brought forth by both the
federal and provincial governments hoping to cool very over heated markets in
many areas of the country most notably Toronto and Vancouver. <o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjU8vZRcRegvMGHd1C-pQCyE-WtdO3Rd8z6yzvz96PoGAnvHZ2Hh5Ku-PtglLQPB1nNBEmpaynnAt5qWE3qCMrt2wAD6jg15thtqFTj9ceSSOqJBytybLloTMsvO3C5pUi5RMQGhERvzw/s1600/Monthly+2018+Sales+in+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjU8vZRcRegvMGHd1C-pQCyE-WtdO3Rd8z6yzvz96PoGAnvHZ2Hh5Ku-PtglLQPB1nNBEmpaynnAt5qWE3qCMrt2wAD6jg15thtqFTj9ceSSOqJBytybLloTMsvO3C5pUi5RMQGhERvzw/s320/Monthly+2018+Sales+in+Units.jpg" width="320" /></a><span style="font-family: inherit;"><span style="mso-spacerun: yes;">
</span>Of even greater significance is the lack of available housing inventory
we have seen listed for sale over the past two to three years in our local
market and elsewhere.<span style="mso-spacerun: yes;"> </span>It is this lack of
inventory couple with a strong buyer demand and low mortgage rates that has helped
lead to properties listed for sale getting multiple offers and selling for over
list price that has driven MLS® dollar sales and pricing through the roof while
unit sales declined.<span style="mso-spacerun: yes;"> </span>Also worth noting
is the number of new homes and condominiums that are being built and these have
without a doubt impacted the resale market with buyers choosing to buy
"new" versus settling on a property that was 20 or 30 years old and
needs updating for which they may not have the funds to do so.<o:p></o:p></span></div>
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</span>New MLS® listings in 2018 totalled 3,133 properties, a decrease of 4%
from 2017 but a slight improvement from 2016 to 2017 when new listing activity
fell by 5%.<span style="mso-spacerun: yes;"> </span>Late in 2018 we saw the
number of new listings coming to market increase slightly. <span style="mso-spacerun: yes;"> </span>At the same time for sale signs lingered
longer and price reductions started to emerge in our MLS® system more
frequently. There were sellers who wanted to sell and buyers who wanted to buy
but in many segments of the market there was still an insufficient amount of
inventory to satisfy those needs.<span style="mso-spacerun: yes;"> </span>At the
same time and despite the strong market demand, the number of MLS® listings
that expired increased 23% from 613 properties in 2017 to 752 in 2018.<span style="mso-spacerun: yes;"> </span>In retrospect some sellers were perhaps too
aggressive in their asking prices and their home or condo simply didn't sell as
they stubbornly refused to a price reduction.<span style="mso-spacerun: yes;">
</span><o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGzuYCGRrXDkIp9wXYPFF4kVWQwKoa1WbZzJ6IZC-8sQAgWIXtYMhWaexuGiuzXuVirx9SVd5RXZKMERccYXIvOr4nm7i_8FVEe3xYgDNmgk3ims4pKcqtlylBlwXBF0jtuy_fKJtsqA/s1600/2018+Sales+by+Type+in+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGzuYCGRrXDkIp9wXYPFF4kVWQwKoa1WbZzJ6IZC-8sQAgWIXtYMhWaexuGiuzXuVirx9SVd5RXZKMERccYXIvOr4nm7i_8FVEe3xYgDNmgk3ims4pKcqtlylBlwXBF0jtuy_fKJtsqA/s320/2018+Sales+by+Type+in+Units.jpg" width="320" /></a><span style="font-family: inherit;"><br /></span></div>
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</span>In May of last year we noticed the market had started to shift.<span style="mso-spacerun: yes;"> </span>The number of multiple offers received on
properties notably diminished as did the level of sales activity where homes
were selling for well over their asking price.<span style="mso-spacerun: yes;">
</span>The tighter lending rules no doubt caused some buyers to step back and I
observed many deals in our Brokerage fall apart as the result of a buyer(s)
being unable to get financing.<span style="mso-spacerun: yes;"> </span>That is
not to suggest that it was the buyer's credit rating that killed the deal.<span style="mso-spacerun: yes;"> </span>With tighter lending rules banks and other
lenders began taking a long look at the prices being paid by their buyer
clients and in some cases the selling price was above the property's appraised
value.<span style="mso-spacerun: yes;"> </span>Regardless of what a buyer is
willing to pay, if their bank doesn't see the same value then securing
financing can become a real challenge.<span style="mso-spacerun: yes;"> </span>Some
buyers were also unwilling or simply couldn't afford to get into a bidding war
and stepped away.<o:p></o:p></span></div>
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<span style="font-family: inherit;"><span style="mso-spacerun: yes;">
</span>MLS® single family homes sales in 2018 totalled 1,375 properties, down
19% from the <o:p></o:p></span></div>
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<span style="font-family: inherit;">1,701 homes sold in 2017.<span style="mso-spacerun: yes;"> </span>Every municipality in our area saw a decrease
in the number of MLS® sales of single family homes, the reductions ranged from
11% to 23% from the number of homes sold in 2017 and are as follows:<span style="mso-spacerun: yes;"> </span>Clearview Township and the </span><span style="font-family: inherit;">Municipality of Meaford were both down
-11%, the Blue Mountains saw a decrease in unit </span><span style="font-family: inherit;">sales of 19% while Collingwood and
Grey Highlands both showed decreased sales of </span><span style="font-family: inherit;">20% each.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">Lastly single family home sales in Wasaga
Beach were 23% less than the number sold in 2017.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">Once again I will point out that these
results do not include the sale of new or soon to be built homes made by
developers which not go through the MLS® system.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">A good example is the Indigo Estates
subdivision in Collingwood where well over 100 homes were pre-sold before work
on the subdivision's site even began. </span><span style="font-family: inherit;"> </span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEid38VljsZWulcmPEO7b4-Pt2tULDHxO-mdGGeinibRv1bwDKP7aHg5_mBvUer-oeaITRzXP5PuUP7y6PuWUvUY_-bBPlAbS7eJsKZYUyzfER2xE5mLYneykW5y-1-q-DwR1IkeJODQ4A/s1600/Single+Family+Sales+by+Area.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEid38VljsZWulcmPEO7b4-Pt2tULDHxO-mdGGeinibRv1bwDKP7aHg5_mBvUer-oeaITRzXP5PuUP7y6PuWUvUY_-bBPlAbS7eJsKZYUyzfER2xE5mLYneykW5y-1-q-DwR1IkeJODQ4A/s320/Single+Family+Sales+by+Area.jpg" width="320" /></a><span style="font-family: inherit;"><span style="mso-spacerun: yes;">
</span>Condominium sales in 2018 showed similar results with 434 units sold
through MLS® compared to 523 sales in 2017, a decrease of 17%.<span style="mso-spacerun: yes;"> </span>Of the total number of<span style="mso-spacerun: yes;"> </span>MLS ® condo sales made in 2018, 51% were in
Collingwood, 36% in the Blue Mountains, 8% in Wasaga Beach with the remaining
5% elsewhere in the area.<span style="mso-spacerun: yes;"> </span>New
condominium construction is one area of the market which remains very robust
particularly in Collingwood and the Blue Mountains.<span style="mso-spacerun: yes;"> </span>Many buyers from the Greater Toronto Area
(GTA) are members of the area's ski and golf clubs and prefer a location close
to those as well as to shopping and other area amenities.<span style="mso-spacerun: yes;"> </span>Lastly, MLS® vacant land sales of 212 units
were down 39% in 2018 versus the 349 vacant land units sold in 2017 largely due
to the fact that several developments were sold out and inventory of vacant fully
serviced lots available to purchase was extremely limited.<span style="mso-spacerun: yes;"> </span>I sold the same lot in the new 3rd phase of Nipissing
Ridge next to the Craigleith and Alpine ski clubs three times at ever
increasing prices over an 18 month period which clearly reflects the demand we
were seeing in 2016 and 2017.<o:p></o:p></span></div>
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<span style="font-family: inherit;"><span style="mso-spacerun: yes;">
</span>One area of the real estate market that I believe requires clarification
concerns pricing.<span style="mso-spacerun: yes;"> </span>When reporting on
overall real estate activity and the state of the market, media reports </span><span style="font-family: inherit;">often include a reference to "average"
sale prices.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">When the
"average" sale price shifts up </span><span style="font-family: inherit;">or down for any given municipality or
the area in general, homeowners always draw the </span><span style="font-family: inherit;">conclusion that their property has
appreciated or depreciated in value accordingly and that is generally not the
case.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">According to the Canadian Real
Estate Association, at the end </span><span style="font-family: inherit;">of 2018 the 12 month average
residential sale price for our area stood at $498,804 which represented a 4.7%
increase over 2017.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">As stated earlier
herein, home sales in all area municipalities were down significantly in 2018
versus 2017 so without further investigation an "average" sale price
increase of 4.7% year-over-year should be taken lightly until the cause for
such an increase has been clearly determined.</span><span style="font-family: inherit;">
</span><span style="font-family: inherit;">The mix of properties that have sold in any period of time has a far
greater impact on the average sale price than just increases or decreases in
sale prices, shifts in the economy etc.</span><span style="font-family: inherit;">
</span><span style="font-family: inherit;">Case in point.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">In 2008 there were
just two MLS® home sales in Collingwood over $750,000.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">In addition to these I sold a home for over
$1 million which was not listed on the local MLS® system.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">In 2018 MLS® residential sales over $750,000
in Collingwood totalled 49 properties, that is essentially 25 times the number
of sales over $750,000 just ten years ago.</span><span style="font-family: inherit;">
</span><span style="font-family: inherit;">Whether you are buying or selling, pricing needs to be looked at
carefully by area and property type.</span><span style="font-family: inherit;">
</span><span style="font-family: inherit;">This has never been more important than now.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">The market has shifted, interest rates are
expected to rise and both buyers and sellers need to be informed and prepared
to make the right decisions.</span><span style="font-family: inherit;"> </span><span style="font-family: inherit;">This is a
key element of the work and analysis that we as REALTORS® need to provide our
clients.</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTd29MsR2I8icXZZgZOnoCASIzf23pR9XfFG7wA7aZpnKTlBPo1DZWM6l1tBw2oMpPyLqoRh-FHbRcacstF_q-hv6HXbUwwGuo2ichi0ONnHpy7SkfGzf-_YTq9SR5VwFHnNKdcwh9rQ/s1600/Sals+by+Price+Range+in+Dollars.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTd29MsR2I8icXZZgZOnoCASIzf23pR9XfFG7wA7aZpnKTlBPo1DZWM6l1tBw2oMpPyLqoRh-FHbRcacstF_q-hv6HXbUwwGuo2ichi0ONnHpy7SkfGzf-_YTq9SR5VwFHnNKdcwh9rQ/s320/Sals+by+Price+Range+in+Dollars.jpg" width="320" /></a><span style="font-family: inherit;"><span style="mso-spacerun: yes;">
</span>During 2018 we continued to see a strong demand for properties in
specific price segments of the market.<span style="mso-spacerun: yes;">
</span>Sales in the $300,000 to $499,999 price range is the "sweet spot"
if you will of our market with sales in 2018 totalling 861 units.<span style="mso-spacerun: yes;"> </span>This price range is the segment where
inventory has been lacking as these sales were down 15% from the 1,018 MLS®
sales reported in 2017.<span style="mso-spacerun: yes;"> </span>It is becoming
increasingly difficult to find much in our market area for less than
$300,000.<span style="mso-spacerun: yes;"> </span>Sales last year between
$100,000 to $299,999 were down 39% with 318 sales for the year compared to 523
in 2017.<span style="mso-spacerun: yes;"> </span>Sales in the $500,000 to
$799,999 segment remained strong in 2018 down just 7% from one year ago with
465 MLS® sales in 2018 versus 498 in the prior year.<o:p></o:p></span></div>
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<span style="font-family: inherit;"><span style="mso-spacerun: yes;">
</span>Where we continue to see growth in residential property sales is at the
higher-end of the market, homes priced $750,000 and up.<span style="mso-spacerun: yes;"> </span>A growing segment of the local real estate
market is for luxury homes and condos.<span style="mso-spacerun: yes;">
</span>While this part of the market softened somewhat in 2018, we still saw
189 MLS® sales reported over $750,000 in 2018, down 23% from 245 sales in this
price range in 2017 but 170% more than just 82 sales over $750,000 back five
years ago in 2014.<span style="mso-spacerun: yes;"> </span>See my Luxury Home & Condominium Market Report on the Luxury Homes page of my personal real estate website for
more details.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
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<span style="font-family: inherit;"><span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
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<span style="font-family: inherit;"><span style="mso-spacerun: yes;">
</span>As previously started we have seen an overall decrease in MLS® listing
activity from 2016 through 2018.<span style="mso-spacerun: yes;"> </span>Many sellers
were prepared to sell as with a sharp increase in multiple offers, properties
selling for over their listed prices and a shortage of properties for sale it
was indeed a "seller's market."<span style="mso-spacerun: yes;">
</span>The problem was finding a replacement home or condominium to purchase at
a fair price was a tall order.<span style="mso-spacerun: yes;"> </span>As such
many sellers decided to stay put and wait until the market became less
hectic.<span style="mso-spacerun: yes;"> </span>At this time we have seen an up
tick in the number of properties coming onto our MLS® system as overall activity
moves towards a more balanced state, levelling the market somewhat for sellers
and buyers alike.<span style="mso-spacerun: yes;"> </span>As shown on the charts
above, annual real estate activity starts to ramp up in January and typically
peaks in May or June before beginning to trend downwards in early summer.<span style="mso-spacerun: yes;"> </span>This includes both sales as well as listing
activity.<o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: inherit;">Summary
Conclusion<o:p></o:p></span></b></div>
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</span>As we head into 2019 there is every reason to remain optimistic about
the demand for southern Georgian Bay area property.<span style="mso-spacerun: yes;"> </span>We are still in the early stages of having
people move to this area and there are three main reasons driving this
migration.<span style="mso-spacerun: yes;"> </span>First, the recreational
amenities here has established the area as Ontario's true four season
playground.<span style="mso-spacerun: yes;"> </span>This is attracting retirees
as well as full time residents looking for an alternative lifestyle where they
can essentially work from home and commute to the Greater Toronto Area (GTA) a
day or two a week or as needed.<span style="mso-spacerun: yes;"> </span>For
those looking for a recreational secondary property, the choices here are many
and prices are significantly more affordable than places such as Muskoka.<span style="mso-spacerun: yes;"> </span>Home prices in Toronto have escalated to the
point where even a modest entry level home is approaching the $1 million mark
which makes pricing in our area looks much more favourable. <o:p></o:p></span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgyI_cJeIZqckNgS-kBecKssHH0uu7fcGQ6d3MQsKgNNYT7AEe1iMO49dNIzgkubfbS1ZW96cPamK363My5MU601UiRjYgBrSSc4qlAwskMdZ5lHiAi8JJ7Sev4e7tofx40fH9PXDeX-g/s1600/Monthly+2018+Listings+in+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgyI_cJeIZqckNgS-kBecKssHH0uu7fcGQ6d3MQsKgNNYT7AEe1iMO49dNIzgkubfbS1ZW96cPamK363My5MU601UiRjYgBrSSc4qlAwskMdZ5lHiAi8JJ7Sev4e7tofx40fH9PXDeX-g/s320/Monthly+2018+Listings+in+Units.jpg" width="320" /></a><span style="font-family: inherit;"><span style="mso-spacerun: yes;">
</span>So what's the downside<span style="mso-spacerun: yes;"> </span>First,
sales in Toronto and other parts of the GTA have also softened no doubt for the
same reason we have seen a market slow down here.<span style="mso-spacerun: yes;"> </span>These are strong feeder markets for this area
with many buyers coming from Toronto and or the surrounding area.<span style="mso-spacerun: yes;"> </span>Interest rates have crept up and tighter
lending rules have made securing financing increasingly difficult to obtain
especially for first time buyers.<span style="mso-spacerun: yes;"> </span>The
good news is this has already served to slow down the crazy pace we experienced
in 2016 and 2017 when multiple offers and skyrocketing sale prices were making
it increasingly difficult for the average consumer to enter the market
comfortably.<o:p></o:p></span></div>
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</span>Personally I remain optimistic about 2019 and beyond.<span style="mso-spacerun: yes;"> </span>Buyers acquire property in this area because
they "want" to not because they "have" to.<span style="mso-spacerun: yes;"> </span>A slowdown in market activity can be a good
thing for sellers and buyers alike.<span style="mso-spacerun: yes;"> </span>The
biggest threat perhaps looming which could impact real estate across the country
is the level of debt being carried by many Canadian families.<span style="mso-spacerun: yes;"> </span>From 2000 to<span style="mso-spacerun: yes;">
</span>2017 real estate values across Canada have essentially tripled, far
outpacing income growth.<span style="mso-spacerun: yes;"> </span>While our economy
has performed well, many economists attribute that to strong consumer
spending.<span style="mso-spacerun: yes;"> </span>Low interest (mortgage) rates
have contributed to sharp increases in real estate sales and prices.<span style="mso-spacerun: yes;"> </span>Add to this home renovation spending, the
purchases of new furniture, appliances along with new vehicles etc. and the
debt burden of many may have reached their limit. <span style="mso-spacerun: yes;"> </span>Consumer debt in Canada is now said to be over
$2.1 trillion.<span style="mso-spacerun: yes;"> </span>Real estate sales in
Alberta and Saskatchewan are feeling the impact of falling oil prices and
General Motors decision to close their Oshawa Ontario assembly plant will
affect not only GM workers but those of their various suppliers as well.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
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<span style="font-family: inherit;"><span style="mso-spacerun: yes;">
</span>The fundamentals of the Canadian economy remain strong which bodes well
for our real estate market moving forward.<span style="mso-spacerun: yes;">
</span>A market correction such as what we have witnessed in 2018 can only
serve to stabilize the dynamics of buying and selling real estate for consumers
creating a level playing field between both buyers and sellers.<span style="mso-spacerun: yes;"> </span>As both a REALTOR® and the owner of two
properties myself I play close attention to what is going on as it is the best
way for me to serve my valued clients.<span style="mso-spacerun: yes;"> </span>I
sold my own home in Collingwood last year as my significant other and I decided
it was time to consolidate our real estate into one principal residence.......hers!<span style="mso-spacerun: yes;"> </span>I already own a summer cottage and following
the sale of my home we purchased together another waterfront property on which
we hope to build a home in two or three years.<span style="mso-spacerun: yes;">
</span><o:p></o:p></span></div>
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<span style="font-family: inherit;"><span style="mso-spacerun: yes;">
</span>Despite a slowdown in market activity last year, I am happy to report
that 2018 was a year of record sales for our Brokerage, Royal LePAGE Locations
North.<span style="mso-spacerun: yes;"> </span>Sales for our Brokerage totalled
just over $288 million.<span style="mso-spacerun: yes;"> </span>We have the
highest market share in four of the five municipalities we serve, Clearview
26%, Collingwood 32%, Meaford 36%, the Blue Mountains 26% and as a relative
newcomer to Wasaga Beach we have quickly become the 3rd busiest real estate office
there.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
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</span>If I can be of any help in assisting you with making your real estate
buying and or selling decisions I would be delighted to share my experience and
knowledge with you.<span style="mso-spacerun: yes;"> </span>In the meantime best
wishes for 2019 and I will continue to provide monthly reports on the status of
real estate activity and other related matters in the months ahead.</span><br />
<span style="font-family: inherit;"><br /></span>
<span style="font-family: inherit;"> A full copy of my <a href="http://www.rickcrouch.realtor/public_docs/documents/2018%20Year%20End%20Market%20Report.pdf" target="_blank">Georgian Triangle Real Estate Market Report 2018 Year In Review</a> is available to download from my personal real estate website <a href="http://www.rickcrouch.realtor/newsletters-229.cfm">www.rickcrouch.realtor.</a></span><br />
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Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-50434975783062363792019-01-10T11:02:00.002-05:002019-01-10T11:02:16.052-05:00New Government Qualifications For Drone Use Over the past couple of years, drone of all sizes have become an increasingly popular new devise with consumers and some of you may have received one for Christmas. While they are fun to fly and depending on the model are capable of taking amazing photos and videos, they do come with some inherent risks. For the past year or more the federal government has been working on new requirements pertaining to the use of drones. Yesterday, (January 9, 2019) Transport Canada issued a <a href="https://www.canada.ca/en/transport-canada/news/2019/01/minister-garneau-unveils-canadas-new-drone-safety-regulations.html" target="_blank">news release</a> announcing what the new regulations entail.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjCIyaiTElvi4HpZe61c72F1l3oPGeUTDmJZn-Oa_m2Cbxn6KKKVzLGIlgsP_1tZSM5F3cVtOX2S9f4fLFeUsjJ_YK55ZclC6Z_Pmygdq5JrmJSMmhz8WOIzdjU9RR92WhwHcrlxYmhhA/s1600/Bay+of+Islands.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1200" data-original-width="1600" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjCIyaiTElvi4HpZe61c72F1l3oPGeUTDmJZn-Oa_m2Cbxn6KKKVzLGIlgsP_1tZSM5F3cVtOX2S9f4fLFeUsjJ_YK55ZclC6Z_Pmygdq5JrmJSMmhz8WOIzdjU9RR92WhwHcrlxYmhhA/s200/Bay+of+Islands.JPG" width="200" /></a> I have owned and flown a drone for over two years and have logged dozens of flying hours including during a trip my wife and I made around New Zealand as reflected on the adjoining photo. In the right hands they are relatively easy to fly. Like anything else however they are not foolproof and require a degree of common sense, skill, adequate, through preparation and you need to know the rules. <br />
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Transport Canada as well as other governing bodies elsewhere defines and treats drones for what they are, they are an aircraft. In order to enhance my flying skills and knowledge I completed 20 hours of ground school just like I would for a pilot's license. Topics including flight plans and preparation, safety, maintenance and other relevant topics to flying an airplane. For several years I have had a Restricted Operators Certificate (ROC) for the VHF radio in my boat, through this ground school course I also obtained an aeronautical ROC.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeOtF0yWO46B5Qvnk4Qn8pIXYdpO6uQjl7fKj3NU3_LS5gUwiEDkA46SP8Mey2JLylvtOlbkp9pLkH0CmhaIzGBxp19DFbqlpxN3ATD3BrEUAuV66-uKUSpmjpFs7QVqLEwDIIWrdk-A/s1600/Aerial+View+Retouched+2.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1064" data-original-width="1600" height="132" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeOtF0yWO46B5Qvnk4Qn8pIXYdpO6uQjl7fKj3NU3_LS5gUwiEDkA46SP8Mey2JLylvtOlbkp9pLkH0CmhaIzGBxp19DFbqlpxN3ATD3BrEUAuV66-uKUSpmjpFs7QVqLEwDIIWrdk-A/s200/Aerial+View+Retouched+2.jpg" width="200" /></a> I was one of the first real estate practitioners in our area to use aerial photography for real estate marketing. I use the tern "aerial" because at the time small consumer type drone did not exist. The photographer I used was licensed and insured. He flew what was essentially a radio controlled helicopter with a Sony digital camera mounted underneath and it took some great shots see attached). To this point I have not used my own personal drone in my real estate practice as essentially it is illegal without having a licence and the required amount of liability insurance. Now that the new rules have been established, I will follow though and obtain all of the needed registration and insurance etc needed in order to be fully compliant with the new regulations and to fly safely. Before every flight I ensure that my drone battery is fully charged and that my take off point has been recorded into the GPS system of my drone. Why? If my drone and controller were to loose radio contact with each other, my drone will automatically fly back to the take off point where I can then land. My drone will not even take off when I am in close proximity to any airport or aerodrome. The system simply shuts down as a safety precaution.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEglxKDDz5pK5JMuSYDFDVSEKB0ekDvfgNCkv6kcAeiwrNUd0XND9mQWWRpDBSQMGgFPRve-XemTho5Bc_r7uIHoo5zW7zZJ9mxKVT1_pPK-V76ixdv6_86tyJkOOY8D7dqJ6El4I1r8eQ/s1600/IMG_4749.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="133" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEglxKDDz5pK5JMuSYDFDVSEKB0ekDvfgNCkv6kcAeiwrNUd0XND9mQWWRpDBSQMGgFPRve-XemTho5Bc_r7uIHoo5zW7zZJ9mxKVT1_pPK-V76ixdv6_86tyJkOOY8D7dqJ6El4I1r8eQ/s200/IMG_4749.JPG" width="200" /></a> I see a lot of real estate marketing that is using drone photography and I am willing to bet many of aerial or drone photos are being taken by unlicensed and or non-insured operators. If a drone crashes or otherwise hits a person, car or your neighbour's house, the drone operator better have some good liability insurance coverage. If you are listing your home for sale and your listing REALTOR® includes drone photos in their marketing efforts then I highly suggest you ask "is the drone operator licensed and insured?"<br />
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Drones can be a a lot of fun but by no means should they be treated as a toy. By taking the necessary precautions and using common sense I have never been even remotely close to a crash or had my drone fly off never to be seen again. It's just not worth the risk from a liability standpoint nor would I enjoy having a two thousand dollar piece of equipment lost as the result of carelessness.<br />
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<br />Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-47385782585888749622018-12-12T16:05:00.000-05:002018-12-12T16:05:00.723-05:00November 2018 - Southern Georgian Bay Real Estate Synopsis Sales results for the southern Georgian Bay real estate market are now out for the month of November and show a slight increase in dollar volume for the month versus at the end of November 2017 but with that is a continuation of weaker unit sales that we have seen throughout most of 2018.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEilQUxTsEpFJNAQ46pJvqURfLuMb4x_EUL7kPo2AxgVkF8ce3NL9QegA989aIfFIdwV6g0qU11nLEdbKOjN4w1ecIJVFPzl9fdEXkhhwkjm902lLhvwfWgi9Q4Yjd2F-AJv8yPjlx9Y0g/s1600/Total+2018+YTD+Sales+in+Dollars.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEilQUxTsEpFJNAQ46pJvqURfLuMb4x_EUL7kPo2AxgVkF8ce3NL9QegA989aIfFIdwV6g0qU11nLEdbKOjN4w1ecIJVFPzl9fdEXkhhwkjm902lLhvwfWgi9Q4Yjd2F-AJv8yPjlx9Y0g/s200/Total+2018+YTD+Sales+in+Dollars.jpg" width="200" /></a> Sales reported through the MLS® system of the Southern Georgian Bay Association of REALTORS® for November reflect a modest 2% gain in dollar sales revenue for the month totalling $75.3 million versus $73.9 million in November 2017. At the same time, MLS® unit sales in November of 134 properties shows a 12% decline from the same month last year when 153 sales were reported. Ironically the number of new listings coming to market in November increased 8% with 183 properties coming onto the market compared to 170 new listings in the same month last year. Nonetheless this increase in available inventory coming onto the market as we approach the holiday season is no doubt "to little to late" to bolster overall the sales shortfall for 2018.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgl_wURRGniSD210PJraSNA4LH7VZrSEAZM3z0Uvnr7g6UhoC1sEaphsq1tf73cszDAgNpOI1rEZaHSx96fRinKpPDTkejZ-us-AO4JjWHPRorAcdsxwkIcVdRy7OJ024kppvbIeuLq4w/s1600/Monthly+2018+Listings+in+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgl_wURRGniSD210PJraSNA4LH7VZrSEAZM3z0Uvnr7g6UhoC1sEaphsq1tf73cszDAgNpOI1rEZaHSx96fRinKpPDTkejZ-us-AO4JjWHPRorAcdsxwkIcVdRy7OJ024kppvbIeuLq4w/s200/Monthly+2018+Listings+in+Units.jpg" width="200" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgMB_rQ3Yos59asCwtSiF1QCzYAMiuVOL1M1A1L7C2UQBx8RRV9ZlexSYh-LhSMCJpeoAFg4aszSjbXZLU_UBYe008fC7JZvi24W1FrCE_kffMn5IgvrDuo_Ypz5ULM2FVulsPvoLxEJA/s1600/Monthly+2018+Sales+Dollars.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgMB_rQ3Yos59asCwtSiF1QCzYAMiuVOL1M1A1L7C2UQBx8RRV9ZlexSYh-LhSMCJpeoAFg4aszSjbXZLU_UBYe008fC7JZvi24W1FrCE_kffMn5IgvrDuo_Ypz5ULM2FVulsPvoLxEJA/s200/Monthly+2018+Sales+Dollars.jpg" width="200" /></a> After two years of back-to-back annual MLS® sales in 2016 and 2017 that surpassed $1 billion for the first time in each of those years, sales volume for 2018 is going to come in below the level we saw in 2017. Year-to-date MLS® dollar sales to the end of November totals $880.2 million, a decrease of 14% from $1.025 billion in MLS® listings sold during the first 11 months of 2017. These year-to-date results for 2018 are also below the results we had in 2016 both in terms of dollars and the number of properties sold. With the holiday season being a priority for many, December is traditionally a slow month for real estate sales and listing activity. Monthly sales in December are typically below $50 million, this would suggest total annual MLS® sales across our market for 2018 will be in the $925 +/- million range.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhn7f0T62BNjAgq4PbqG-ApLGLnHs2vFEzaPyn_y41ymC6jPCqS1TUqWzuJwh-_pB7s1GxOX_dJUHKcpFh9bdijKhAaFkMRlHqGmCJaQhF9QsfjGYbCqCmnqJXV-8aCHtaMit35RZ6SFg/s1600/2018+Sales+by+Price+Range.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhn7f0T62BNjAgq4PbqG-ApLGLnHs2vFEzaPyn_y41ymC6jPCqS1TUqWzuJwh-_pB7s1GxOX_dJUHKcpFh9bdijKhAaFkMRlHqGmCJaQhF9QsfjGYbCqCmnqJXV-8aCHtaMit35RZ6SFg/s200/2018+Sales+by+Price+Range.jpg" width="200" /></a> MLS® Single family home and condo unit sales are both running at a similar pace and are well below the number of properties sold through the first 11 months of 2017. Year-to-date single family home sales total 1,352 units down 18% from 1,656 sold in the same period last year. At the same time condo sales of 414 units are also down 18% from last year when 503 units we sold. In both cases it is important to point out that new home and condo sales made by developers are not included in these MLS® statistics some of which would account for the softer sales of MLS® resale properties this year. Vacant residential land sales are well below the number sold in 2017 primarily due to a lack of available lots listed for sale.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEglDqqYYC9HC0Q1s7kPwvFvxW3pfz9J4LC-Wd7MJCGN869VrutU_2MDD6MCFpgkOY10J4iwHwC9xtfYf_mcFqQjGnYBjNJD9tSwsczACvOlE4j14xwnkfOK-k7oVUgcvpx7TpP9J3TzmQ/s1600/2018+Single+Family+Sales+by+Area.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEglDqqYYC9HC0Q1s7kPwvFvxW3pfz9J4LC-Wd7MJCGN869VrutU_2MDD6MCFpgkOY10J4iwHwC9xtfYf_mcFqQjGnYBjNJD9tSwsczACvOlE4j14xwnkfOK-k7oVUgcvpx7TpP9J3TzmQ/s200/2018+Single+Family+Sales+by+Area.jpg" width="200" /></a> Sales in most price segments of our market are lower than 2017. Two exceptions to this is the $800,000 to $1 million range where year-to-date sales of 91 properties are up by 4 sales from one year ago. In addition, sales over $2 million are also up modestly with 14 sales reported in 2018 compared to 11 in 2017. As per the accompanying chart every other segment of the market is running at a pace below last year. In conjunction with this, every municipality in our region has seen a decline in the number of MLS® single family home sales this year with decreased unit sales running 13% to 22% below the number of homes sold through MLS® in 2017.<br />
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In many segments of the market, reduced levels of inventory have also created a slowdown in sales activity during 2018. Since September there has been an uptick in new MLS® listing activity but on a year-to-date basis new MLS® listings which total 3,031 properties are still 5% below the number of new listings that came to market in 2017. Again when you take an in-depth look at the year-to-date MLS® statistics there are always exceptions to the overall results. In terms of inventory, our market currently has an abundance of properties listed for sale priced $750,000 and above. As of this article we have just over 14 months of available inventory for sale priced above $750,000 so there are plenty of options for buyers in this price range and some good value to be had.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgQHzI_hFdXmyipJ9YLURfszAt0XIui7-ugNQMb1gcMbUqj2AGaCpc0ImvsznHurg2lTp9397yaD5AWyz1_w_x02MPCWSmH6NOBza9MepncnmI5XKj2O-FLSQiqiA93efNjmeISrUKGng/s1600/2018+Sales+by+Type+in+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgQHzI_hFdXmyipJ9YLURfszAt0XIui7-ugNQMb1gcMbUqj2AGaCpc0ImvsznHurg2lTp9397yaD5AWyz1_w_x02MPCWSmH6NOBza9MepncnmI5XKj2O-FLSQiqiA93efNjmeISrUKGng/s200/2018+Sales+by+Type+in+Units.jpg" width="200" /></a> Overall, 2018 has brought about a much more balanced market. The frenzied bidding wars we experienced in 2016 and early 2017 have sharply diminished leading to much more favourable and less stressful market conditions for sellers and buyers alike and we are not alone. Real estate activity in the Greater Toronto Area has also slowed as it also has in large urban centres such as Oakville, Guelph, Cambridge, Kitchener/Waterloo, London and elsewhere. These are all strong feeder markets for southern Georgian Bay real estate. A cooling off of market conditions in our region and elsewhere was bound to happen some of which is driven by increased mortgage interest rates and tighter lending rules.<br />
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The demand for southern Georgian Bay real estate has not diminished. Whether it is for retirement or recreational use, people still favour the varied four season lifestyle afforded by property ownership in this area and this is not a trend that is likely to disappear anytime soon. <br />
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As we head into 2019, sales activity will ramp back up as it always does heading into the spring. How much the market rebounds in 2019 over what we have experienced in 2018 is any one's guess. There has never been a better time to consult a local REALTOR®, one with extensive knowledge of this area and current market conditions to assist you with your real estate buying and or selling goals and objectives. <a href="http://www.rickcrouch.realtor/contact.cfm" target="_blank">Contact me</a> and I would be delighted to provide any of my followers with a no obligation consultation of your particular buying and or selling needs. <br />
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<br />Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-77740017992264627772018-11-29T16:51:00.001-05:002018-11-29T16:51:42.807-05:00October 2018 Market Report, Final Comments As stated in my post dated November 11th and titled <a href="http://propertycollingwood.blogspot.com/2018/11/area.html" target="_blank">"Area Real Estate Sales Continue to Remain Soft in 2018"</a> I pushed the notion that paying attention to statistical data is a key element in helping our valued real estate clients make informed decisions. As November draws to a close and the monthly results are known, I suspect we will have some better insight into what the next couple of years will bring, in the meantime let's take one final look at what has happened in the first 10 months of 2018.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEie44z75NVP6n4bEQiO2xXD0cxbftkKOYjkeahaSJHXSE8IXZ4KKQ0g4s6sQISVR4p9N1-DzpNFP8V8hMOSsjbvsQ2pPGVN05spA1krrSmBY1iOBXzIc27E0h6dLUYg4Rhnqltj7Npb0g/s1600/2018+Sales+by+Type+in+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEie44z75NVP6n4bEQiO2xXD0cxbftkKOYjkeahaSJHXSE8IXZ4KKQ0g4s6sQISVR4p9N1-DzpNFP8V8hMOSsjbvsQ2pPGVN05spA1krrSmBY1iOBXzIc27E0h6dLUYg4Rhnqltj7Npb0g/s200/2018+Sales+by+Type+in+Units.jpg" width="200" /></a> Year-to-date MLS unit sales are running 19% behind 2017 and this decrease is equally shared in both the single family home and condominium segments of the market. Through the end of October we have seen 1,256 single family home sales, a decrease of 18.6% from last year. Condominium sales year-to-date for the first 10 months of 2018 total 375 units and similarly to home there too are down 18.8%. <br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjiDvwJsRFelpGfI0CpHaI4wKnd0e1W5fvJgazlVgPOYPc2WdB82ldOE-CWh9aW5o-6lXgPFobkOZHK7HB-I5RnL7jM4PP1mfP_CVnyuQQmtRNAtLKPzuKye4SoFLZ46TLHGHl_WB8wMA/s1600/2018+Single+Family+Sales+by+Area.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjiDvwJsRFelpGfI0CpHaI4wKnd0e1W5fvJgazlVgPOYPc2WdB82ldOE-CWh9aW5o-6lXgPFobkOZHK7HB-I5RnL7jM4PP1mfP_CVnyuQQmtRNAtLKPzuKye4SoFLZ46TLHGHl_WB8wMA/s200/2018+Single+Family+Sales+by+Area.jpg" width="200" /></a> Meanwhile, vacant land sales are down over 65% this year with 100 units sold compared to 293 sales in the first 10 months of 2017. While the overall inventory of properties available to purchase remains below last year, nowhere is this more evident than with vacant lots. The glut of lots for sale from a couple of years ago are gone and no newly created lots/subdivisions have come on stream to replenish those lots that have sold and now have homes under construction.<br />
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The obvious question after reviewing the softer MLS sales data for many real estate market across Canada is, what is the cause and how will this downturn in real estate sales impact us moving forward in 2019, 2020 and beyond? <br />
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First, we all need to acknowledge that Canada's real estate market is somewhat unique to other parts of the globe. Given the market strength that Canadian real estate has demonstrated for many years, we are viewed by many countries as having a fascination with real estate and or home ownership regardless of the cost or overall economic climate. In most markets across the country, real estate values have tripled between 2000 to 2017 far out pacing the increase in annual incomes during the same period. Yes our market did slow down after the collapse of the U.S. real estate market through 2007 to 2009 but not nearly to the extent of our neighbours to the south. Real estate activity in Ontario started to rebound strongly in early 2010 the year in which the province implemented the harmonized sales tax (HST). Many in the province had the impression that home purchases under the new HST tax structure were going to be HST taxable and they rushed to buy. In some circumstances HST can apply to the purchase of a new home and in even a resale but that is more of an exception than the rule.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBSdobtuuJvWJCa8ilgC9XHtJvMurc7P7IvL5fb6r01hQlN2X3MDnXJpxWXoCJQkrvcn6dWADuRXIwKhK59xE44ifut2ZKqebaR7oSDfFpuvqrQ0YKbdhxkVJpnGmMz-PonXT8dXmxvQ/s1600/2018+Sales+by+Price+Range.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiBSdobtuuJvWJCa8ilgC9XHtJvMurc7P7IvL5fb6r01hQlN2X3MDnXJpxWXoCJQkrvcn6dWADuRXIwKhK59xE44ifut2ZKqebaR7oSDfFpuvqrQ0YKbdhxkVJpnGmMz-PonXT8dXmxvQ/s200/2018+Sales+by+Price+Range.jpg" width="200" /></a> There is no question that low interest mortgages in recent years have helped to fuel the housing craze we have experienced. Multiple offers, with properties often selling for over their highly inflated list prices became the norm. Low interest mortgage have allowed buyers to spend more on a home they perhaps intended. Sooner or later that craze had to end, interest rates would rise as they have and other economic drivers would come into play all of which would impact the real estate market and other segments of the economy. This week's announcement by General Motors Canada is a good example. Some couples with both the husband and wife working may now be faced with raising a family and paying down debt as a one versus two income family and it's not just the auto industry that will create this, the oil and gas industry currently faces its own set of problems. While situations such as this is not a pleasant scenarios it is reality and it will no doubt have an impact on real estate and other aspects of our economy in the months or years ahead. <br />
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Only time will tell, November's market statistics will be out shortly. Stay tuned and follow my blog for ongoing market reports and other information that I will post to help you make information decisions about you specific real estate needs and or goals. For details on the luxury home and condominium market in our area see my <a href="http://carriagetradehomes.blogspot.com/" target="_blank">Carriage Trade Homes blog.</a><br />
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Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-75204866757474870502018-11-27T16:51:00.000-05:002018-11-27T17:12:34.872-05:00General Motors Closures - Where Do We Go From Here? Yesterday's announcement by <a href="https://media.gm.com/media/us/en/gm/home.detail.html/content/Pages/news/us/en/2018/nov/1126-gm.html" target="_blank">General Motors</a> that is was closing several manufacturing plants in both Canada and the U.S. was grim news for 2,500 assembly workers in Canada, 14,000 in the U.S. plus thousands more with salaried positions throughout the company. I learned of this pending announcement Sunday night on my way to Toronto via an exclusive story released by CTV news. While it is unfortunate not only for the affected workers but for the province as a whole, it was not unexpected. The Canadian retail industry has gone through change ie: Sears and Target and will continue to do so, the auto industry and other businesses is no different.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdhscDMC7Kbk0rURqDJkbEyy2Zp7dYHn-rlJMkHQ9j0DP7RYV-zF59hvPvflLChBPNU3WyJmA8P02boqe0XJSpncRNT3nMSOmlImAiE-qKZW4Bj3q1Twpc6ngMYj5OUKLBub0tInhoJQ/s1600/Doug+Ford.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="705" data-original-width="713" height="316" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdhscDMC7Kbk0rURqDJkbEyy2Zp7dYHn-rlJMkHQ9j0DP7RYV-zF59hvPvflLChBPNU3WyJmA8P02boqe0XJSpncRNT3nMSOmlImAiE-qKZW4Bj3q1Twpc6ngMYj5OUKLBub0tInhoJQ/s320/Doug+Ford.jpg" width="320" /></a> On Monday I was one of approximately 400 members of the Ontario Real Estate Association (OREA) attending a conference in Toronto to discuss advocacy issues pertaining to both REALTORS as well as Ontario home/property owners. Speakers at this event included Premier Doug Ford, NDP Leader Andrea Horwath, Green Party Leader Mike Schriener, interim Provincial Liberal Leader John Fraser, Canada's Ambassador to the U.S. David MacNaughton and lastly former Prime Minister Stephen Harper. Rarely do you have the opportunity to meet and hear such political talent in the same day and I felt privileged to attend.<br />
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Needless-to-say Monday morning's announcement by GM news impacted the conference, Premier Ford was delayed half an hour in arriving having been on the phone addressing the issue with GM's President. Whether you like Premier Ford or not, Ontario's new government have moved quickly to address many of the issues facing the Province not the least of which is the economy and the deficit. Mr. Ford did not shy away from the closure issue acknowledging that GM workers will need assistance in securing new employment. At the same time he remained resolute that Ontario is "open for business." Faced with global economic change and competition, he said that Ontario and in fact Canada needs to attract business that includes smart and other up and coming technologies, artificial intelligence and those that represent the future growth of business outside the traditional manufacturing sector. Ms. Horwath on the other hand touted that the government needs to fight GM's decision in every way possible, as does the head of their Union. Clearly they have no grasp of reality and they still cling to the belief that unions have a lot of clout.<br />
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My father, a dentist like his farther and brother was a car guy so I come by it honestly. He was for the most part a strong GM customer. Growing up we had Chevrolets, Pontiacs, an Olsmobile even a Corvair with the odd Ford thrown into the mix. My father died in 2001 and I have always thought how shocked he would be if he had lived to see GM file for bankruptcy with the Pontiac and Oldmobile divisions both gone along with Mercury, Plymouth and others. I as well have had my share of GM vehicles over the years. In addition to my current car an Audi, my wife has a 1980 Corvette which she drives in the summer and it continues to go up in value. We also have a 2015 GMC Denauli pick-up bought earlier this year (with cash) for less than half of its original $69,000 sticker price. Will I ever buy a brand new vehicle again? Not likely when I can let someone else take a 30% or 40% hit in value in the first three or so years of the vehicle's life. Also, I am not interested in low interest financing, "employee" pricing or any other gimmicks the auto makers throw at consumers. <br />
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I moved to Collingwood in 1985 as the result of a transfer with Goodyear Canada. Goodyear's Collingwood plant was a significant supplier to GM and Ford that included fuel and transmission lines, rad hoses and other hose products. Those days are long gone. Collingwood's Pilkington glass plant supplies auto glass for the Chevrolet Impala, a poor selling car that will soon no longer be in GM's vehicle lineup. My father had a 1962 Impala, he always said it was the nicest car he ever had, I wish I had it now! Fortunately the majority of Pilkington's business is outside of GM, good for them.<br />
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Following their brush with bankruptcy GM is in relatively strong financial shape. By means of the direction they announced yesterday, they have chosen to invest in the future which like for may other car/truck manufacturers includes electric vehicles and those that are self driving as reflected by GM's purchase of San Francisco based startup <a href="https://getcruise.com/mission" target="_blank">Cruise Automation</a> for $1 billion in 2016.<br />
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Times and marketplace changes driven by consumers will continue to rise and I believe the acceleration of those changes will continue to escalate. Politicians and unions can kick and scream all they want but trying to fight what consumers want and are willing to pay for is like trying to swim up Niagara Falls. GM has set a good example for many in business to follow, make the required changes to float with the rising tide rather than try to swing against the current.<br />
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Like everyone I offer my condolences to the GM workers affected by the closure of Oshawa and GM's other facilities. You will absolutely need to maintain a strong resolve to find alternate work, which may require training for new skills in order to transition into a completely different field of work. Despite the challenges we all face from time to time perseverance always pays off. Hopefully Ontario's current government will implement the required efforts to develop employment opportunities in the province's economy that will offer opportunities for these displaced workers as well as for our our children, opportunities that we as adults never had.<br />
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<br />Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-84533564505922144492018-11-11T16:07:00.000-05:002018-11-13T21:46:17.885-05:00Area Real Estate Sales Continue to Remain Soft in 2018<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxf33CVHgeZmXrEHzi1O3i4u3KWyFOuSYQpjdfSfDWlEP1bJzz30achWO8JHb79fT35RLYKTrBbiuLcwjPWTMdq0kg96CFRsVQoRguZoCPWJn6MCBEFOhox9olTBOK-I6hytbKihZWrA/s1600/Total+2018+YTD+Sales+in+Dollars.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxf33CVHgeZmXrEHzi1O3i4u3KWyFOuSYQpjdfSfDWlEP1bJzz30achWO8JHb79fT35RLYKTrBbiuLcwjPWTMdq0kg96CFRsVQoRguZoCPWJn6MCBEFOhox9olTBOK-I6hytbKihZWrA/s320/Total+2018+YTD+Sales+in+Dollars.jpg" width="320" /></a> I am going to start this post off with a somewhat different flavour. I admit to being a bit of a statistics junkie especially when it comes to real estate and other matters involving the need to make qualified, informed decisions. There is an old saying that "figures lie and liars figure" which makes having accurate information and data all that more important. For me this is especially true when serving my real estate clients and helping them make qualified and important selling or buying decisions. Sharing relevant information and data is therefore in my opinion a key priority in my role as a "consultant" so-to-speak to real estate buyers and sellers.<br />
There is no denying that most real estate markets across Canada have experienced a much softer year in 2018 than in 2016/2017 and the southern Georgian Bay area is no exception. Following record breaking sales in 2016 and 2017 where MLS® sales reported by the Southern Georgian Bay Association of REALTORS (SGBAR) exceeded $1 billion, we are going to fall well short of that historic sales volume for 2018. I am happy to report however that sales through our Brokerage, Royal LePAGE Locations North have remained strong this year especially over the past couple of months. Kudos to our sales staff and the administrative assistants in our five area offices for their efforts in serving the needs of our valued clients.<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg2_RNaEoqFJop-3id2vLaW7fWFNvdSYHVExrvbsvVzpo0P1xAmLOjEChcNaJ08YDwh1OBgODa7M7cb_KX_sXI4bNaIMUbFd_NQdQwj5Y1MvPKU-UlIqBOyKLHGx5AFCX3XZSeKmuLnTQ/s1600/Monthly+2018+Sales+Dollars.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg2_RNaEoqFJop-3id2vLaW7fWFNvdSYHVExrvbsvVzpo0P1xAmLOjEChcNaJ08YDwh1OBgODa7M7cb_KX_sXI4bNaIMUbFd_NQdQwj5Y1MvPKU-UlIqBOyKLHGx5AFCX3XZSeKmuLnTQ/s320/Monthly+2018+Sales+Dollars.jpg" width="320" /></a> Through the end of October, year-to-date MLS® sales in our area total $803.9 million, 15% below the $950.9 million worth of properties sold in the first 10 months of last year. MLS® year-to-date unit sales in our market through October are down 376 properties or 19% from one year ago. The biggest question we need to ask ourselves for this slowdown in area real estate activity is why, what if anything has changed?<br />
First, the southern Georgina Bay area has become and remains a prime area that attracts buyers. Arguably whether it is a place for part-time weekend enjoyment, a location for your family's primary residence or for retirement purposes, we have a lifestyle that is second to none. People have been increasingly coming to this area for years and that trend is not likely to change any time soon unless economic or other circumstances come into play that will affect that.<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNA47bBkxm4Nqucai9bL6Q1oNG3_KKu9VuiMfEtET43T4KpQRGgAnkeHoOonxTnd9K9vbsYMqFkCvHB0Ry1u8wkQPQD98On-Nifex-QUnDRkYNaVvixEYPvpcnaPmzWO5Z3ZCRQWhopg/s1600/Monthly+2018+Sales+in+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNA47bBkxm4Nqucai9bL6Q1oNG3_KKu9VuiMfEtET43T4KpQRGgAnkeHoOonxTnd9K9vbsYMqFkCvHB0Ry1u8wkQPQD98On-Nifex-QUnDRkYNaVvixEYPvpcnaPmzWO5Z3ZCRQWhopg/s320/Monthly+2018+Sales+in+Units.jpg" width="320" /></a> One of those circumstances is affordability. Everyone is aware that interest rates have crept up in recent months. This combined with the fact that lending rules have been tightened with respect to attaining a mortgage has had some downward pressure on many buyers ability or willingness to make the plunge into home ownership. In my management role I have signing authority for the Brokerage and in recent months I have signed several Mutual Release documents cancelling sales where Buyers we unable to get the required financing to complete their purchase. This does necessarily mean the Buyer's credit rating was at fault. In some cases the lenders may as the result of inflated prices, not seen the value in the home or condo the Buyers was willing to pay or the property did not get the appropriate "realistic" appraised value to secure financing. This trend is not likely to change any time soon.<br />
Canadian real estate prices have on average tripled from 2000 to 2017 which explains to a large degree the rampant growth in both prices and real estate activity overall. Much of this has been the result of low interest rates/credit which is a polite way of saying "debt." An article in the Financial Post back in September titled <a href="https://business.financialpost.com/personal-finance/debt/key-household-debt-ratio-creeps-higher-in-second-quarter-to-169-1-per-cent" target="_blank">"Canadians household debt is creeping back again"</a> speaks to this issue and personally I believe this poses a potential threat to the strength of both our real estate market over the next 2 to four years and perhaps the economy as a whole. Am I being a pessimist? Some may think so but it's more a matter of being realistic and again looking at the data. More on this in upcoming posts.<br />
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<br />Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-31003007480472027542018-10-29T11:53:00.000-04:002018-10-29T11:53:50.642-04:00How's The Real Estate Market<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgouE16k1GXbe-hInCLAOSQvxFLlO4NnvcvaN0-ML1vkGG-gW9zEi1uNKdV4qwUf3KEifQxGCKzSOeGL_YPnibm5EC0b4wt8WcT9s2pw1Xx6N2QBD9O_SSDW9srFTShO9JMRMHShBR3GA/s1600/YTD+Sales.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgouE16k1GXbe-hInCLAOSQvxFLlO4NnvcvaN0-ML1vkGG-gW9zEi1uNKdV4qwUf3KEifQxGCKzSOeGL_YPnibm5EC0b4wt8WcT9s2pw1Xx6N2QBD9O_SSDW9srFTShO9JMRMHShBR3GA/s200/YTD+Sales.jpg" width="200" /></a> Real estate sales activity in many markets across Canada continues to remain significantly below the frantic level of sales that we experienced in 2016 and during the first 4 to 5 months of 2017. I don't profess to be the smartest guy but in order to counsel my buyer and seller clients I make a concentrated effort to be informed and to stay abreast of what's happening and I follow market activity in our market and others closely. Whether I am grocery shopping or just bump into people on the street, the most common question I get is "how's the real estate market?"<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgz2hOfrqj4Aun9_DMoc0yNl3JXbcW-6fhNq8t5v0aQtiBQPsxbArtygW-tB69C5Y6bilZw9QZ_AbxLhPWCZLqGW3i_Vo1eag976Cj22P90Zuv4QSZARBzsk3IexcDa1ezNwiSYHkJb-A/s1600/Sales+Units+by+Month.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgz2hOfrqj4Aun9_DMoc0yNl3JXbcW-6fhNq8t5v0aQtiBQPsxbArtygW-tB69C5Y6bilZw9QZ_AbxLhPWCZLqGW3i_Vo1eag976Cj22P90Zuv4QSZARBzsk3IexcDa1ezNwiSYHkJb-A/s200/Sales+Units+by+Month.jpg" width="200" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhDHb2ccqCWimTRxW-BTlRZ6rxLhLDGMqPXSYUycHaqVvGNeNalzN3sxMq9VP-zPuozeR9G99B_7n3eJ6eKT0gtcwgyTVpNuZstPp6pDdwhw5EQa7ZjJ-YcUxinfyZbhuydNrHSUX6_-A/s1600/Sales+Dollars+by+Month.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhDHb2ccqCWimTRxW-BTlRZ6rxLhLDGMqPXSYUycHaqVvGNeNalzN3sxMq9VP-zPuozeR9G99B_7n3eJ6eKT0gtcwgyTVpNuZstPp6pDdwhw5EQa7ZjJ-YcUxinfyZbhuydNrHSUX6_-A/s200/Sales+Dollars+by+Month.jpg" width="200" /></a> My initial response this year is that we are down in terms of MLS dollar and unit sales from last year. People are generally surprised as for the most part, the media tends to provide less coverage of real estate sales activity when the market weakens than they do when the market is booming. In the past couple of years print, online and radio/television media touted how robust the market was. Often you heard about the property that drew 20 or 30 offers and sold for $100,000, $200,000 or more over list price. When have we ever heard about the home that languished on the market for a year or two and finally sold for 25%, 30% or more below the original asking price?<br />
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Year-to-date MLS real estate sales as reported by the Southern Georgian Bay Association of REALTORS to the end of September are down 17% in terms of dollars sold. MLS dollar volume for the first three quarters of 2017 totalled $859.7 million whereas for 2018 sales are $714.8 million. As was the case in 2016 we ended 2017 with MLS sales over the $1 billion mark at just under $1.1 billion and th4ese sales did not include sales of new homes and or condominiums by developers. Given the fact we are well off that pace through September I forecast total MLS sales for 2018 will be in the $925 to $950 million range roughly 15% to 18% below 2017.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj79t0q3uyhA01P6Gp_QRw4OuGlgEfibxR4mDE8-aYZ__2w-PSAi3I48VRDW3IgIaUOFRhAfR08qUu9sgbVQWY6aDOiA1a7q0hUiE4YpBO07BwmRj1c3oEZRLF6OxHHCEjHW9g0GEspWw/s1600/Single+Family+Sales+by+Area.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj79t0q3uyhA01P6Gp_QRw4OuGlgEfibxR4mDE8-aYZ__2w-PSAi3I48VRDW3IgIaUOFRhAfR08qUu9sgbVQWY6aDOiA1a7q0hUiE4YpBO07BwmRj1c3oEZRLF6OxHHCEjHW9g0GEspWw/s200/Single+Family+Sales+by+Area.jpg" width="200" /></a> Year-to-date MLS unit sales through the end of September total 1,460 properties which is 20% fewer sales than in the same period last year. New listing activity has increased in recent months but the number of new listings this year is still running 6% less than the same time frame in 2017. The average number of days-on-market has crept up this year to 47 compared to 40 last year and I believe we will see this number increase.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9EB4tao6TkNJ93OULZA2UwHsC_HS6tRSGY-aGji4YujXpYYuYhfuKcoclyW2RoX9Yx8O63_4K_QjdFWhsD3Sh1BL5aj6tKjcr0D4iVstu69E07SexpGfe7tV1kSh_bUnkHlhnKhlsBA/s1600/2018+Sales+by+Price+Range.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9EB4tao6TkNJ93OULZA2UwHsC_HS6tRSGY-aGji4YujXpYYuYhfuKcoclyW2RoX9Yx8O63_4K_QjdFWhsD3Sh1BL5aj6tKjcr0D4iVstu69E07SexpGfe7tV1kSh_bUnkHlhnKhlsBA/s200/2018+Sales+by+Price+Range.jpg" width="200" /></a> Sales in virtually every price segment of the market are below 2017 especially at the upper end where year-to-date sales between $1.5 and $2 million are 56% below last year. Sales in our area under the $300,000 mark are down 41% while sales between $300,000 and $500,000 are down 15% from last year. In my next post I will summarise market activity across the various municipalities in our region but the results are similar, unit sales are down 14% to as much as 25% from one year ago in every municipality that makes up our market area.<br />
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So collectively what does all this information tell us? With sales down both in terms of dollars and the number of properties sold along with an increase in the number of days it takes to sell a property, we have clearly entered a new era one where buyers, the banks and other lenders are getting increasingly cautious. <br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEigaIT586HnJRKFtv2i8FAU9qib4PeJrbL7TE0fX6P-mkAecdxSkvMQ8Huu1j5NrGSi62Vl1ZAvmkbFXjVTZFbQ6-EWw7uXGzlPqPs_WSoNH32hhylK3EWDhHFGxJ76Q74C14t697h45w/s1600/Monthly+2018+Listings+in+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEigaIT586HnJRKFtv2i8FAU9qib4PeJrbL7TE0fX6P-mkAecdxSkvMQ8Huu1j5NrGSi62Vl1ZAvmkbFXjVTZFbQ6-EWw7uXGzlPqPs_WSoNH32hhylK3EWDhHFGxJ76Q74C14t697h45w/s200/Monthly+2018+Listings+in+Units.jpg" width="200" /></a> Our market like many across Canada is or has shifted to one that is balanced more evenly between sellers and buyers and I see this trend continuing. Buyers who are willing to wait will no doubt benefit with more properties coming to market and lower prices. In future posts I will explain why.<br />
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In the meantime please do not hesitate to <a href="http://www.rickcrouch.realtor/contact.cfm">Contact Me</a> if you have questions or to have a no obligation consultation regarding your personal real estate needs and or goals.<br />
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<br />Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-43529186150266020812018-10-19T10:16:00.000-04:002018-10-19T10:16:57.411-04:00It's Municipal Election Time - Have You Voted? Great article on the democratic election process by <a href="https://www.simcoe.com/opinion-story/8959742-the-system-works-when-we-participate/?fbclid=iwar1mdwfl9xvovi_nwi-qfafo4jaicbjxtrmzyx62qesezqv4--iyuqg4w9c">Ian Adams</a> and well worth the read.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNkpCfeIZeyFv_WyP8dQTNhxFLZDrc82Y_Pawu_3qnrv4P5Dp1rqvL9m-dC3MTq2POWanYa9zq5YTqWxVs8oPSrKFOpB7TI4WD9iJPq02Gn0lQRe7nWsiNAYoQuwAWHAcojs_TASkL0A/s1600/IMG_0024.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNkpCfeIZeyFv_WyP8dQTNhxFLZDrc82Y_Pawu_3qnrv4P5Dp1rqvL9m-dC3MTq2POWanYa9zq5YTqWxVs8oPSrKFOpB7TI4WD9iJPq02Gn0lQRe7nWsiNAYoQuwAWHAcojs_TASkL0A/s320/IMG_0024.JPG" width="320" /></a> I ran in the last municipal election for Collingwood Council and I am not afraid to admit that the 38 vote shortfall Ian mentions in this article between getting elected and not was me. While I was disappointed at the time I took pride in my campaign efforts and the contribution I made in bringing forth change to the town's municipal government.<br />
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People that supported my efforts last time have asked why I did not run in this election. The simple reason is having sold my home earlier this year I no longer live or own property in Collingwood and now reside in Clarksburg. Nonetheless my interest in this community, province and country have not diminished and I have actively but quietly followed the current election process. My children were both born in Collingwood.. My son and his girlfriend have just moved back to Collingwood so like everyone I have a vested interest in the well being and future of the communities I am affiliated with. <br />
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I have cast my vote in both the Blue Mountains as well as on Manitoulin Island where I own properties. I did my research of the candidates which isn't hard and asked questions when needed.<br />
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On Monday it will be interesting to see if my choices made a difference in helping those I voted for get elected. More importantly it will be interesting to follow the process to see if those elected to their Council positions serve their respective communities in the best interest of the public at large during the next four years.<br />
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<br />Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-8517770472158925542018-10-02T16:38:00.000-04:002018-10-02T16:38:30.447-04:00Thinking Of The Future As a real estate Broker for over 17 years I know from experience that it is not often we handle a real estate transaction for ourselves. Normally we work on behalf of our valued <a href="http://www.rickcrouch.realtor/sellers.cfm">Seller</a> and or <a href="http://www.rickcrouch.realtor/buyers.cfm">Buyer</a> clients so it is fun when we get to engage in some real estate business on behalf of ourselves.<div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3d9XJGT1C26Y3azVqBvNGEdf4VNAJgw7_zF_IGu_paZRMU99PdLmbby-42uQYhr1OPoQM9JFc56Q57HfDrO1vTFTd8i-xriLe8oHywGFOn0P0JTctTbXfgU1-uC9nqonh91vQ10J_CA/s1600/IMG_9124.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh3d9XJGT1C26Y3azVqBvNGEdf4VNAJgw7_zF_IGu_paZRMU99PdLmbby-42uQYhr1OPoQM9JFc56Q57HfDrO1vTFTd8i-xriLe8oHywGFOn0P0JTctTbXfgU1-uC9nqonh91vQ10J_CA/s320/IMG_9124.JPG" width="320" /></a> Earlier this year I sold my own house in Collingwood and moved to the Thornbury/Clarksburg area. This move was part of a grander plan that my spouse and I came up with thinking about the future in terms of where and what we would like to doing in five or ten years. I love my work in real estate serving my clients and I see myself working for many more years. Nonetheless we are all getting older and it is never too early to think about the future and the possibility for me of working in a different real estate market than southern Georgian Bay.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh896UuoYtKQg9P_d9EzzxQRwnwFEXKwF3uLhVyYLZETRzp0XFuN1dZUe7KMsvLxlRNA5iFST2wuVEusZIuNFHgCPGGH9E6qBczpA09odLQeUBYyHBs-nmK8zYe-dZqJYyRtkU4UgGZ0A/s1600/IMG_9116.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh896UuoYtKQg9P_d9EzzxQRwnwFEXKwF3uLhVyYLZETRzp0XFuN1dZUe7KMsvLxlRNA5iFST2wuVEusZIuNFHgCPGGH9E6qBczpA09odLQeUBYyHBs-nmK8zYe-dZqJYyRtkU4UgGZ0A/s320/IMG_9116.JPG" width="320" /></a> Those that know me are aware that I have a passion for and a deep connection with <a href="https://www.google.ca/search?q=manitoulin+island&hl=en-CA&source=lnms&tbm=isch&sa=X&sqi=2&ved=0ahUKEwiVvaT9wOjdAhUDzbwKHc-mDZkQ_AUIDygC&biw=1440&bih=709#imgrc=NIXkX0KGoeQyuM:">Manitoulin Island.</a> My brother and I jointly own a cottage property there which we have had for 45 years. Our mother was born and raised on Manitoulin, we have family there as well as a lifetime of memories from our many summers spent there. My two children aged 28 and 30 also share the same enthusiasm and love for Manitoulin and its unique lifestyle. My daughter, son-in-law and 11 month old granddaughter Ivy just spent time there with us during their three week visit from home which is the island of Maui, Hawaii. As my daughter always says, "Dad, Manitoulin is still my favourite island, it's a very special place."</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhgQHxqe7DjdbYDeebNNZX6MV7H8xJt-bRUOd_5vuHzqCJTq_HrxAabcCJfvcb2-u7P2mkFyz4l2CZjW8pJcju4l2UYAzlmlPSBddHxv41AAd27DhLgAfwjXjA1Kc6Y8TqFqFhXmCTcRg/s1600/IMG_1356.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="847" data-original-width="1600" height="168" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhgQHxqe7DjdbYDeebNNZX6MV7H8xJt-bRUOd_5vuHzqCJTq_HrxAabcCJfvcb2-u7P2mkFyz4l2CZjW8pJcju4l2UYAzlmlPSBddHxv41AAd27DhLgAfwjXjA1Kc6Y8TqFqFhXmCTcRg/s320/IMG_1356.jpg" width="320" /></a> As of today my spouse and I own an additional piece of Manitoulin Island. In addition to the cottage property I already own and have enjoyed, we purchased a 1.5 acre waterfront lot on one of the inland lake, Lake Manitou. Besides being a lovely treed, private property on which to potentially build our dream home for the future, it has the added distinction of being located on the largest lake (40 square miles) on the largest freshwater island in the world. Very cool!</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiW0mB3Mmpjpm-CThQZsb6gFDVhYtjZBGsF1FkLGKUp4FtxjW5_Voqz9MAhTmX7binHckeneEIGoSe6aC_625Y8nN8O-uzSMvdAf0UOsBBBXB3FDmRK5M4PzDehbusyj1iNrZwFzK-q3g/s1600/2062535_6.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="768" data-original-width="1024" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiW0mB3Mmpjpm-CThQZsb6gFDVhYtjZBGsF1FkLGKUp4FtxjW5_Voqz9MAhTmX7binHckeneEIGoSe6aC_625Y8nN8O-uzSMvdAf0UOsBBBXB3FDmRK5M4PzDehbusyj1iNrZwFzK-q3g/s320/2062535_6.jpg" width="320" /></a> Although there is no home currently on the property, the driveway and hydro is already installed and there is an excellent building site with a view of the lake. In addition there is a recently built garage perfect for storing my 30 boat trailer this winter plus a variety of other vehicles etc. Two additional spaces under roof on each side of the garage can easily be enclosed providing over 1,500 square feet of garage space, a shop or for other storage uses. It's the garage I was always going to built, now I don't have to.</div>
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Dreams do come true but it doesn't just happen. It takes vision, hard work and the support of a loving partner that shares your passion for similar things in life and is not afraid to work for them. I am in trouble as she is already going through home plans. It looks like I will be working for a few years yet and that in my books is just fine.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgZ26TNp5rxjpxkmXuyELpyVBJHD1lPCR5wj8Lb17MXjTGh1kCy2hJm8Nfo3GvXDRx1Ip62o5wqG-fguUbksn_ICh-qVL1a4qiDg3GCYjbicwZ9zfYzlJkw8gCtmMFuR4Gjtf3LsvTSlw/s1600/IMG_0757.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="702" data-original-width="947" height="235" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgZ26TNp5rxjpxkmXuyELpyVBJHD1lPCR5wj8Lb17MXjTGh1kCy2hJm8Nfo3GvXDRx1Ip62o5wqG-fguUbksn_ICh-qVL1a4qiDg3GCYjbicwZ9zfYzlJkw8gCtmMFuR4Gjtf3LsvTSlw/s320/IMG_0757.jpg" width="320" /></a> If you have dreams as well that involve real estate be it an in town, rural or waterfront property, I would be delighted to share my experience to help you in achieving whatever goals and or dreams you may have. The southern Georgian Bay market offers a variety of options whether it is for full or past time use</div>
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<a href="http://www.rickcrouch.realtor/contact.cfm">Contact me</a> and I would be happy to have a no obligation consultation as to where you would like to be further down the road of life.</div>
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Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-30023503898499983732018-09-27T14:28:00.000-04:002018-09-27T14:28:13.435-04:00Southern Georgian Bay Real Estate Sales Shows a Slight Upturn in August<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhpYhIfCsMYsSVOlxsby3iRrUqrG4r0CmjvvJq4eolECNmhxTj8x4Qih_CwMp7V580ax6WcUBC9JF81BJhr_a8kkVv-S7_mVmzQ8wGm6S-ax4qCkjoS-4KG30l50_Sc4N8HkwTGnDajuQ/s1600/Total+YTD+Sales+in+Dollars.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhpYhIfCsMYsSVOlxsby3iRrUqrG4r0CmjvvJq4eolECNmhxTj8x4Qih_CwMp7V580ax6WcUBC9JF81BJhr_a8kkVv-S7_mVmzQ8wGm6S-ax4qCkjoS-4KG30l50_Sc4N8HkwTGnDajuQ/s200/Total+YTD+Sales+in+Dollars.jpg" width="200" /></a></div>
Real estate market activity across southern Georgian Bay in August showed a slight improvement in dollar volume over the same month last year raising the question after seven prior months of weaker sales than the same time in 2017, will this upward trend continue?<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtNE-Qx8-mGfhGr9yDxLc14tBnCRRjfjafGBAnlxNHOswSX47pkWTxaZvPTIr5uq98UW3WQOK5eAr1FDX7-tlrEA2pUrP_H5w3neQE2hISkhUdevwZdF8Koi-WkCbkHb7fGVqyRIYI6Q/s1600/Monthly+Sales+in+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtNE-Qx8-mGfhGr9yDxLc14tBnCRRjfjafGBAnlxNHOswSX47pkWTxaZvPTIr5uq98UW3WQOK5eAr1FDX7-tlrEA2pUrP_H5w3neQE2hISkhUdevwZdF8Koi-WkCbkHb7fGVqyRIYI6Q/s200/Monthly+Sales+in+Units.jpg" width="200" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqEH9Jw3NIFRKkethMULOGI_SLgjQabHrzjYkWJ_F8_SvslpjV_CJsJiZqBR9CcXdTgBO9DG8_1p3PmpY6eHkeXk1E_zHS-Rg8-gV-Ext3ao18pT52xheVXUPWj8SDaweHWLUCfqeI0A/s1600/Monthly+Sales+Dollars.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqEH9Jw3NIFRKkethMULOGI_SLgjQabHrzjYkWJ_F8_SvslpjV_CJsJiZqBR9CcXdTgBO9DG8_1p3PmpY6eHkeXk1E_zHS-Rg8-gV-Ext3ao18pT52xheVXUPWj8SDaweHWLUCfqeI0A/s200/Monthly+Sales+Dollars.jpg" width="200" /></a> MLS<span style="font-size: 13.5pt;">® </span>sales reported by the Southern Georgian Bay Association of REALTORS<span style="font-size: 13.5pt;">® </span>for the month of August totalled $88.8 million, an increase of $4.5 million or 5% over August 2017. This was the first month in 2018 when MLS<span style="font-size: 13.5pt;">® </span>dollar sales exceeded the same month of last year. Despite the modest upturn in dollar sales during August, year-to-date MLS<span style="font-size: 13.5pt;">® </span>dollar and unit sales both remain at significantly lower levels that the first eight months of 2017. Year-to-date MLS<span style="font-size: 13.5pt;">® </span>dollar sales of $630.1 million represents and 18% decrease from last year while unit sales of 1,287 properties are 21% lower than the 1,626 MLS<span style="font-size: 13.5pt;">® </span>units sold in the first eight months of 2017. Mid way through 2017 overall real estate activity in most market across Canada began to slow and the Greater Toronto Area (GTA) which is a major feeder market for property demand in southern Georgian Bay is no exception. Slower sales in the GTA, as we all Guelph, Kitchener/Waterloo and London combined with tighter lending rules have all served to reduce the frenetic sales pace we experienced in our market during 2016 and 2017. This is not necessarily a bad thing as slower sales, the reduction in multiple offers with highly inflated sale prices lends to a more balanced market favouring sellers and buyers equally.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh5bFzghB-qqqhZWZrW6HmLnaJE2wyj0nbrkqt5dCdsLnppOs8o-9KXREn_3cXwwliEYnJzBEuqD2jG_x6WIjNp5Jwqkw6TTzxrPggs8IZRUL1zw-r35QPNtXOFm-N7Ji1fwlrkr4neoA/s1600/Single+Family+Sales+by+Area.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh5bFzghB-qqqhZWZrW6HmLnaJE2wyj0nbrkqt5dCdsLnppOs8o-9KXREn_3cXwwliEYnJzBEuqD2jG_x6WIjNp5Jwqkw6TTzxrPggs8IZRUL1zw-r35QPNtXOFm-N7Ji1fwlrkr4neoA/s200/Single+Family+Sales+by+Area.jpg" width="200" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNUtAPlQHctRAhttwYiWaUhFvr-vVsIf7I_a9Vn1tFyHj6OrtfveSsvMmUNErNdqO0GUpkieiNyTTX6yo6WJIkNSuj9vJ4NcbuMEnvnU-ozS0SNGtDjzNxNKrvXoanFvAEdrseMKiGAQ/s1600/Sales+by+Price+Range.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjNUtAPlQHctRAhttwYiWaUhFvr-vVsIf7I_a9Vn1tFyHj6OrtfveSsvMmUNErNdqO0GUpkieiNyTTX6yo6WJIkNSuj9vJ4NcbuMEnvnU-ozS0SNGtDjzNxNKrvXoanFvAEdrseMKiGAQ/s200/Sales+by+Price+Range.jpg" width="200" /></a> The change to softer MLS<span style="font-size: 13.5pt;">® </span>sales across our region from 2017 is consistent in every municipality that make our market. Overall year-to-date MLS<span style="font-size: 13.5pt;">® </span>unit sales are down from 20% to 34% and are broken down as follows: Collingwood -20%, Municipality of Meaford and Wasaga Beach are both 25% below last year, Clearview -28%, while the Blue Mountains and Grey Highlands are down 32% and 34% respectively. As with sales activity by municipality, decreased sales are reflected in every price segment of our market with a particular emphasis on the upper end market from $1 million and up. Sales between $1 and $1.5 million are 20% below 2017 with 41 sales this year compared to 51 in 2017. Sales in the $1.5 to $2 million range are down 61% from last year with just 7 sales this year versus 18 sales last year.<br />
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One bright spot in market activity this year is the sale of condominiums. MLS<span style="font-size: 13.5pt;">® </span>condo sales through the end of August total 291 units compared to 233 this time last year, an increase of 25%. For many buyers condominiums are a less expensive alternative with less upkeep than a single family home. By comparison, MLS<span style="font-size: 13.5pt;">® </span>single family home sales are down 22% with 996 sales reported this year versus 1,273 sales during the same period last year. Lastly, vacant land sales are greatly reduced from one year ago largely due to a lack of inventory. Year-to-date vacant land MLS<span style="font-size: 13.5pt;">® </span>sales total 82 properties compared to 234 sale in the first eight months of 2017. Please keep in mind the statistics provided herein do not include sales made by builders and or developers that do not go through the local MLS<span style="font-size: 13.5pt;">® </span>system but are made directly by the builders/developers own sales staff.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi1pn87Azj1I6RUs0rN2xWISRbhN-pFC9JaOpO4sUzW9EMMep23rN7mhEz11dJSIeoC5IeuI31OfFntUKoW_UjhssdfGSjDk7flmGkmd6wwjrF0G5_mbKNx3PmqIE10xXbK1QIC10_aSw/s1600/Sales+by+Type+in+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi1pn87Azj1I6RUs0rN2xWISRbhN-pFC9JaOpO4sUzW9EMMep23rN7mhEz11dJSIeoC5IeuI31OfFntUKoW_UjhssdfGSjDk7flmGkmd6wwjrF0G5_mbKNx3PmqIE10xXbK1QIC10_aSw/s200/Sales+by+Type+in+Units.jpg" width="200" /></a> Tighter lending rules combined with an ongoing shortage of inventory listed for sale have both contributed to the current slowdown in MLS<span style="font-size: 13.5pt;">® </span>sales activity we have experienced in 2018. While properties listed for sale have increased somewhat this year, new listing activity is still 7% below the level of last year. Conversely, expired listing activity has increased significantly this year with the number of expired listings up 46% to the end of August. While sale activity has softened, some sellers are still asking above market value for their properties hoping to attract a willing buyer. Weaker market activity nationwide combined with tighter lending rules do not support multiple offers and over zealous buyers to the same degree as they did early last year. <br />
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As always, consumers need to adapt to changing market conditions and whether you are buying or selling, working with a knowledgeable REALTOR<span style="font-size: 13.5pt;">® </span>can work to your advantage in meeting your real estate investment goals. For a no obligation discussion about the current market and or your specific real estate objectives please feel free to <a href="http://www.rickcrouch.realtor/contact.cfm">Contact me.</a> <br />
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<br />Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-67051842581286703152018-09-27T10:33:00.000-04:002018-09-27T10:33:07.767-04:00A Piece Of Colliingwood Maritime History Is About To Sink It is unfortunate that we as Canadians have taken such a laissez-faire position to saving and preserving items that offer a glimpse of our past and represent a historic value that cannot be replaced once lost.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYK5_rVA0wq_e_cPmgV-lGiiYOAEOFOpI7QRbzv2K5X4CP-1ucF8qq3E35PMUvyp7G4QooXHaWdX24n8zWSIjbtbMyCg8O4wcKNDQZ-3bqksnsZxO-quPKrjULKWQpJ4IhgL8nrFhKdg/s1600/DJI_0006.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1200" data-original-width="1600" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYK5_rVA0wq_e_cPmgV-lGiiYOAEOFOpI7QRbzv2K5X4CP-1ucF8qq3E35PMUvyp7G4QooXHaWdX24n8zWSIjbtbMyCg8O4wcKNDQZ-3bqksnsZxO-quPKrjULKWQpJ4IhgL8nrFhKdg/s200/DJI_0006.JPG" width="200" /></a> The master plan for the redevelopment of Collingwood's harbour front is no doubt years away from being fully implemented and completed but hopefully amongst its many features it will serve to recognize and celebrate the Town's shipbuilding and maritime past. <br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgg2kJjNYVHquvyUHv00YP7z0SmCwEn6Zn5k6boFrnNACjYqneBvZ9bMZN5UapclwoBkjZJ05nWLMiN_B3_cW0cJMdyXh6GVRR3e76j0JoE-QSpjTyV93QYIdwvyhwV_DZwX0AzAVOosg/s1600/DJI_0011.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1200" data-original-width="1600" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgg2kJjNYVHquvyUHv00YP7z0SmCwEn6Zn5k6boFrnNACjYqneBvZ9bMZN5UapclwoBkjZJ05nWLMiN_B3_cW0cJMdyXh6GVRR3e76j0JoE-QSpjTyV93QYIdwvyhwV_DZwX0AzAVOosg/s200/DJI_0011.JPG" width="200" /></a> The S.S. Norisle pictured here was built in Collingwood in 1946 and served as a passenger and car ferry between Tobermory at the tip of the Bruce Peninsula and Manitoulin Island up to 1974 when its replacement the Chi Cheemaun (also built in Collingwood) went into service. Up to its retirement, the Norisle was the last steam powered passenger ship on the Great Lakes. The ship was subsequently sold by the province to the Township of Assiginack on Manitoulin Island for $1 (one dollar) and towed to the town of Manitowaning where it has remained ever since. The ship went through a number of uses including that of a restaurant and later a museum but has sat idle for many years deteriorating. I took these drone shorts of the ship earlier this summer. <br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQCoPPLoKxOdxCcdJls6tDNuigEooQ7FvBimZeXXa6o51Oj4TmT2E2uEDxBF5BiBpEVziDcplZq0_4GbUDYFFVrHjkrgcFzlbQ3NJMpUbq78pyrCl5lCmgPp1dOZmjtvWindvOu9emKw/s1600/DJI_0024.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1200" data-original-width="1600" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhQCoPPLoKxOdxCcdJls6tDNuigEooQ7FvBimZeXXa6o51Oj4TmT2E2uEDxBF5BiBpEVziDcplZq0_4GbUDYFFVrHjkrgcFzlbQ3NJMpUbq78pyrCl5lCmgPp1dOZmjtvWindvOu9emKw/s200/DJI_0024.JPG" width="200" /></a> My mother was born on Manitoulin, I have spent every summer there since I was an infant and my brother and I have a cottage property a short distance from the ferry dock that we have owned for 45 years. In my late teens for a summer job I worked on the ferry dock at South Baymouth parking cars, then tying up the Norisle and it's sister ship the Norgoma when they arrived. I also drove cars on and off the ferries which in itself was a challenge especially on the Norisle as it involved taking cars down an elevator into a dark lower hold. There was no turning around to back up, you watched and followed the directions of the 1ST or 2ND Mate as he pointed and moved his finger as to how and where to steer. It was a great experience.<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEieFumhIgWZAXuY9uD_A8iF2zDFnzc7GOC3ABgrr8WVvN5hUFF5ghV8TaZuvI69GZgLxbSeQeMph8xavOEr45f8qqCRzp9-58mxeJAYrw6aTEr4WXP4U0XtZEsJ61H4D27tJUpJiQI7HQ/s1600/DJI_0022.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1200" data-original-width="1600" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEieFumhIgWZAXuY9uD_A8iF2zDFnzc7GOC3ABgrr8WVvN5hUFF5ghV8TaZuvI69GZgLxbSeQeMph8xavOEr45f8qqCRzp9-58mxeJAYrw6aTEr4WXP4U0XtZEsJ61H4D27tJUpJiQI7HQ/s200/DJI_0022.JPG" style="cursor: move;" width="200" /></a><br />
In recent years the Norisle has been at the centre of a lawsuit between the Township of Assiginack and the S.S. Norisle Steamship Society. The Society was hoping to purchase the ship and restore it so as to offer cruises such as the <a href="http://realmuskoka.com/steamships/">Seqwun</a> does on the Muskoka lakes. While doable that in itself is a large and expensive undertaking given the ship is 72 years old and today's safety requirements are much more stringent.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgOmJ_opXeyN1PHX5vWIMudhMYXVT7-nNcheGIPcDM7UkxaHt8CWuJsy1iidBV2us7hy36SsIfWudLb2_vqRrEHm52Vpi1PqIOMIuV30DkE2zSrJHe_wHXz9BVwwUZcn8B-G6psLKXrXw/s1600/DJI_0014.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1200" data-original-width="1600" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgOmJ_opXeyN1PHX5vWIMudhMYXVT7-nNcheGIPcDM7UkxaHt8CWuJsy1iidBV2us7hy36SsIfWudLb2_vqRrEHm52Vpi1PqIOMIuV30DkE2zSrJHe_wHXz9BVwwUZcn8B-G6psLKXrXw/s200/DJI_0014.JPG" width="200" /></a> <a href="https://www.manitoulin.ca/assiginack-norisle-steamship-society-settle-lawsuit-ship-to-become-new-site-for-tobermory-dives/">News was released yesterday</a> that the Township and Norisle Steamship Society have reached an agreement resolving their dispute. The ship is being sold to a group in Tobermory (Tobermory Maritime Association) that will acquire the ship and subsequently sink it as a scuba diving site. It's too bad that something more appropriate could not have been decided for the fate of this piece of Collingwood history. While 5,000 or 6,000 scuba diving enthusiasts visit Tobermory annually, that number is minuscule (Collingwood gets more than that on one weekend to see Elvis impersonators) compared to the number of visitors the ship could attract as a permanent, moored fixture here in Collingwood or elsewhere. <br />
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This is another piece of Canadian history and Collingwood heritage that will be lost which is too bad. That is why many of us are working diligently via the <a href="http://nottawasaga%20lighthouse%20preservation%20society/">Nottawasaga Lighthpouse Preservation Society</a> of which I am the current Chair to acquire and restore the Nottawasaga lighthouse off Collingwood. More of that in future posts.<br />
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<br />Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-43285698759415269522018-07-06T09:28:00.002-04:002018-07-06T09:28:51.053-04:00Is Storage A Problem In Your Garage?<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi1FQAt2uPS09jWUv6lWL7Vuxf1YjwHMMkXwXoVyu5wyNuacoEKqqP9KnvHR0yCPknjcXQEakW2wuhUJSIYUSKtF0CRADIDi-6MrospHq2xRLvmTLDq_u1JkTY-66P-2t-UoQPKJ0_1Zw/s1600/IMG_8734.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="133" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi1FQAt2uPS09jWUv6lWL7Vuxf1YjwHMMkXwXoVyu5wyNuacoEKqqP9KnvHR0yCPknjcXQEakW2wuhUJSIYUSKtF0CRADIDi-6MrospHq2xRLvmTLDq_u1JkTY-66P-2t-UoQPKJ0_1Zw/s200/IMG_8734.JPG" width="200" /></a><span style="background-color: white; color: #1d2129; font-family: Helvetica, Arial, sans-serif; font-size: 14px;"> Space in and outside our homes is often a problem for many of us but there are solutions. One, you can get rid of stuff (which I have done) and or two, you can create some additional space especially in the garage. Besides having my own needs to address as real Estate Broker I am always helping clients solve various issues with the properties or ones they are looking to purchase. </span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjvlY70DaxTwhG9KpXh60plP11Obzwq4xSuVr4ysU0fYvaHez34EnOEaaqarqgroISd6EmzCmMHXB-12mppytJ6h6EVhhwZepe4zhyphenhyphenZmocgZsNmTjdb_vBQHMXfx6AVLZ9tYFPPq-662Q/s1600/IMG_8732.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="133" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjvlY70DaxTwhG9KpXh60plP11Obzwq4xSuVr4ysU0fYvaHez34EnOEaaqarqgroISd6EmzCmMHXB-12mppytJ6h6EVhhwZepe4zhyphenhyphenZmocgZsNmTjdb_vBQHMXfx6AVLZ9tYFPPq-662Q/s200/IMG_8732.JPG" width="200" /></a><span style="background-color: white; color: #1d2129; font-family: Helvetica, Arial, sans-serif; font-size: 14px;"> Like my father (deceased) I am a car nut, actually anything with a motor in it gets my attention. Back in the fifties, sixties and seventies all the new car models came out at the same time usually in early October. It started when I was about four or five years old and my Dad would drag me around on a Friday night and Saturday to the various dealerships looking at all the new cars. I still remember staring at the first Mustangs, Camaros and Firebirds that came out. I have owned and restored many cars over the years as well as motorcycles and boats. </span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhr3-9oJjLblXRFBX1yDvPfMeI0RvRZ4vVH3xNKauImNevltYfUwCNCOgvbeYjyk83vVQnwvSY_arlC9g666jo7JJAdpswmLnquFLkrl0nITEcIC7vS2r7GNMVtnziHDG4mXzX1b9lglg/s1600/IMG_8745.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="133" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhr3-9oJjLblXRFBX1yDvPfMeI0RvRZ4vVH3xNKauImNevltYfUwCNCOgvbeYjyk83vVQnwvSY_arlC9g666jo7JJAdpswmLnquFLkrl0nITEcIC7vS2r7GNMVtnziHDG4mXzX1b9lglg/s200/IMG_8745.JPG" width="200" /></a><span style="background-color: white; color: #1d2129; font-family: Helvetica, Arial, sans-serif; font-size: 14px;"> Between my wife and I we have three vehicles, plus a boat and I have a motorcycle. She has always loved Corvettes particularly the mid-sixties models but they have become very expensive. Looking for something more affordable that she could use and enjoy we found her a great, low mileage 1980 model, fully optioned with a factory four speed transmission which is somewhat rare. With all this "stuff" at home space was becoming s problem so we decided that a car lift in the garage was an potential option to look at. As with most major purchases we shopped around looking at the various vehicle lifts on the market, comparing features and of course price. We settled on a unit made here in Ontario (Oakville) that was well engineered and unlike some others used North American parts versus components imported from abroad. </span><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgK_qMNon_iUJs4LBkChKEO6DCdTD0kJ6iUZINqCryajS7_oH8uTjjvod0upJq5SrYorbSfw8xhsy1rVFXEV_jJbBMgZqIPBYdSj7C4UtmvS_cDJGz7i5m7Q_sMNKAuCVSpj4WTDFwhLg/s1600/IMG_8750.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="133" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgK_qMNon_iUJs4LBkChKEO6DCdTD0kJ6iUZINqCryajS7_oH8uTjjvod0upJq5SrYorbSfw8xhsy1rVFXEV_jJbBMgZqIPBYdSj7C4UtmvS_cDJGz7i5m7Q_sMNKAuCVSpj4WTDFwhLg/s200/IMG_8750.JPG" width="200" /></a><span style="background-color: white; color: #1d2129; font-family: Helvetica, Arial, sans-serif; font-size: 14px;"> The lift was delivered and installed this week and we are very pleased with the results. Taking advantage of the available ceiling height the</span><span style="background-color: white; color: #1d2129; font-family: Helvetica, Arial, sans-serif; font-size: 14px;"> lift allows us to store three vehicles plus my motorcycle in our double car garage. For hobbyists like myself a car lift is a low cost option that will pay for itself while de-cluttering your driveway. The lift allows you to raise a vehicle to different heights for cleaning and or doing other maintenance tasks including underneath the car. If you are interested visit <a href="https://liftsuperstore.com/">The Lift Superstore</a> in Oakville or I would be happy to answer any questions you may have so feel free to <a href="http://rickcrouch.realtor/contact.cfm">Contact Me</a>.</span><br />
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<span style="background-color: white; color: #1d2129; font-family: Helvetica, Arial, sans-serif; font-size: 14px;"><br /></span>Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-20526282481674358552018-06-12T17:01:00.003-04:002018-06-12T17:01:48.480-04:00What's In A Seller's Best Interest <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLioQYjtf-bSOy39XbdVbBsJk_DgHzA6SRNUnNRqGBqm5sX7-MWxaX5UTHcKsH4SjhFMNUkU0PLu4UXJDIHx1DrTyMLnZqL0PQRR1icsrdhgdec3LtZZaArL7FQFVq-83J_newAn_Piw/s1600/coming-soon.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="121" data-original-width="159" height="243" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLioQYjtf-bSOy39XbdVbBsJk_DgHzA6SRNUnNRqGBqm5sX7-MWxaX5UTHcKsH4SjhFMNUkU0PLu4UXJDIHx1DrTyMLnZqL0PQRR1icsrdhgdec3LtZZaArL7FQFVq-83J_newAn_Piw/s320/coming-soon.jpg" width="320" /></a> Late in 2016 and early 2017, real estate For Sale signs began appearing in our market with the added message "Coming Soon To Realtor.ca." Consumers were and still are often confused not knowing what this statement implies so let's clear the air.<br />
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Many of us visiting a movie theatre to take in a film often sit through a parade of ads highlighting upcoming films that are coming to the theatre soon. "Coming Soon To Realtor.ca" signs have been used in markets such as Toronto and elsewhere for years and are a way in which a listing REALTOR® may choose to pre-market a property for sale before it hits the Multiple Listing Service (MLS). Often this is done while the property's owner(s) complete some last minute preparations to list their home or condo for sale on the local MLS and this may include such tasks as interior or exterior painting, decorating, the staging of furniture, yard clean up, completing property photos and so on. While the overall intent of using a Coming Soon To Realtor.ca sign on a property may seem legitimate the big question is, does doing so best represent a seller in exposing the property to as many potential buyers as possible thus helping to ensure they get the best sale price and terms possible?<br />
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As REALTORS® we are governed by provincial law namely the Real estate and Business Brokers Act (REBBA 2002). This act includes a variety of requirements pertaining to advertising none of which can be viewed as being false, misleading or deceptive. Let me ask this question. If as a buyer you noticed a property with a For Sale sign that further said "Coming Soon To Realtor.ca," you had a potential interest in the property only to find out that it was sold and never got listed on MLS, how would you feel? Falsely excited? Mislead? Deceived? I certainly would.<br />
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As a licensed real estate Broker, this is not a practice that I have or would use. First, installing a For Sale sign of any type on a property must include written consent from the seller(s). This consent must have an effective date as well as written direction from the seller(s) as to how and when showings of the property are to be managed as well as the date on which offers will be accepted. Too often these details are overlooked. Too often the listing REALTOR® may just be trying to find a buyer on their own. Again, is this in the best interest of the seller(s)? The answer is probably no!<br />
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The Canadian Real Estate Association (CREA) owns and manages <a href="http://www.realtor.ca/">www.realtor.ca</a>. The only "Coming Soon" sign allowed and or endorsed by CREA is "Coming Soon To Realtor.ca." "Coming to MLS" is not allowed neither is just "Coming Soon" as is begs the question coming soon to what? Some real estate boards and associations across Canada do not allow the use of such signs as part of the MLS rules and regulations, personally I think it's time to perhaps consider the same here in our market. Seller's deserve and are entitled to the best possible service we as REALTORS® can deliver and the same applies to buyers. <br />
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Ultimately a property is either for sale or it's not. Let's stop playing games and service our seller and buyer clients in the best way possible with knowledgeable, timely and forthright service that demonstrates the value that we as REALTORS® bring to the real estate transaction. I would love to hear your opinion on this or feel free to<a href="http://www.rickcrouch.realtor/contact.cfm"> Contact Me</a> with any questions you may have.<br />
Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-75999709772278599542018-05-31T15:00:00.002-04:002018-05-31T15:00:13.616-04:00<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiyTLu2d1ufdpyMtQah_GERuDeaXIBIcMMVO8pYhvILRq2viEqTkv3XZuWQrLLVxOdFl5w5cWZ3I7sQXR1uGn-xC3qC5Z82ONBufzDIG0WnMt6qkM5iquFJtFq1NI28rUQ9x4Sg5TgIGA/s1600/canstockphoto22116210.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="640" data-original-width="800" height="160" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiyTLu2d1ufdpyMtQah_GERuDeaXIBIcMMVO8pYhvILRq2viEqTkv3XZuWQrLLVxOdFl5w5cWZ3I7sQXR1uGn-xC3qC5Z82ONBufzDIG0WnMt6qkM5iquFJtFq1NI28rUQ9x4Sg5TgIGA/s200/canstockphoto22116210.jpg" width="200" /></a> Back in 2008, the City of Toronto brought in their own "municipal land transfer tax" MLTT which was applied to purchases and paid by the buyers of real estate within the city. For years, buyers of real estate in Ontario have paid a provincial land transfer tax based on a scale that increased as the total purchase price went higher. <br />
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I have been a full time REALTOR for 16+ years and the provincial land transfer tax rate has always been the same. On the first $55,000 of the purchase price, the buyer pays a tax rate of .5%. From $55,000 to $250,000 the tax rate increases to 1% and for any amount over $250,000 up to $400,000 the land transfer tax payable is $1.5%. Above $400,000 and up to $2 million the rate increases to 2.0% and for any amount over $2 million the land transfer tax increases yet again to 2.5%. <br />
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Example: It a home outside of Toronto sells for $500,000, the total provincial land transfer tax payable is as follows:<br />
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- On the first $55,000 @ .5% (1/2%) $275.00<br />
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- From $55,000 to $250,000 @ 1.0% $1,950.00<br />
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- From $25,000 to $400,000 @ 1.5% $2,250.00 <br />
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- From $400,000 to $500,000 @ 2.0% $2,000.00<br />
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TOTAL LAND TRANSFER TAX $6,475.00 <br />
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The total land transfer tax payable on that same property if located in Toronto would be the provincial tax of $6,475.00 plus the Toronto land transfer tax of another $6,475.00 for a total payable of $12,950.00.<br />
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Municipalities across the province in general have not been prudent managers when it comes to managing expenses forcing them to look elsewhere for sources of revenue and implementing a municipal land transfer tax in Toronto was a good example. Based on Toronto's success, many other municipalities jumped on the same tax grab bandwagon hoping to increase their revenues while jeopardising the dream of home ownership for many. Thankfully the province stepped in and with some added pressure from the Ontario Real Estate Association (OREA) the opportunities for municipally implemented additional land transfer taxes was thwarted.<br />
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Is it now safe to go back in the water? No so according to an email I received today from OREA. Apparently municipal Councillors in York Region north of Toronto have demanded that the province give the them the required municipal power to implement their own MLTT. <br />
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Here we go again, municipal spending continues to drain a region's economic well-being and the answer is? Let's pass on another tax to the public. The same politicians that advocate increased property and additional land transfer tax implementation are the same ones that lament about the lack of affordable housing. They just don't get it.<br />
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This is not only a provincial election year but a municipal one as well. We had all better get out and make sure our voices are heard. I know that I will. <br />
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Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-67282795757260946732018-04-02T08:57:00.001-04:002018-04-02T08:57:21.951-04:00LED Bulbs May Not Always Be Your Ideal Choice In the sixteen plus years I have been in real estate, technology has played a huge role in not only expanding the real estate business but it has also impacted our daily lives in many many ways. Between advancing my real estate skills, computer knowledge and other facets of life I have always embraced technology and it has served me well. At the same time however, technology can sometimes backfire and I recently learned this with a problem at my house.<br />
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As may of you are aware I recently sold my own home and moved from Collingwood to Clarksburg which is adjacent to Thornbury. My better half and I have been living in our own homes for many years and it was time to consolidate two residence into one. She and I both work long hours, this combined with maintaining two homes plus a cottage(s) I have owned for many years on Manitoulin Island had become more than full time jobs and it was time to simplify our lives.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUZpzOHIxPzWgj7IN1P8H_w6QeT4C4Q1DxHkXQ1INGr-XVbzP7ggJD1zrLbr8usJbdrmunEQWF2DJOBURHdpTY-B9LRq6zzWNea83MQUgN-nGgTLSFU6jb1UkGEEERVpDFpmR-bZy-ug/s1600/IMG_8658.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUZpzOHIxPzWgj7IN1P8H_w6QeT4C4Q1DxHkXQ1INGr-XVbzP7ggJD1zrLbr8usJbdrmunEQWF2DJOBURHdpTY-B9LRq6zzWNea83MQUgN-nGgTLSFU6jb1UkGEEERVpDFpmR-bZy-ug/s320/IMG_8658.JPG" width="320" /></a> I had made many improvements to my Collingwod house including steps that were aimed at reducing my energy consumption and expense. In addition to newer appliances, a hi-efficiency gas furnace and central air conditioner I had also switched most of my interior lighting to LED's. One area in my home where the LED lights backfired so-to-speak with on my garage door opener. The standard incandescent light bulbs on my opener were always burning out mostly the result of the excess vibration they had to endure from the opener itself every time the door was opened or closed. Even rough service bulbs seemed to fail fairly often so I switched the standard bulbs over to LED's. I also did the same on mt spouse's garage door opener.<br />
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Things worked fine with better lighting in the both garages other than we found the garage door remotes had lost some of their effective range and they would often fail to activate the door openers unless you were very close by. Ultimately I discovered that the problem was not the opener or the remotes, it was the LED bulbs. LED bulbs have a frequency of their own and this was creating a conflict with the frequencies of our garage door openers and their respective remotes. Once I removed the LED bulbs and replaced them with normal incandescent bulbs the remotes went back to working as they always had.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgM7HQ_Q9SEJcpl3EIh0CGhxEGaBDlEjizImXEpoUNBaRmFfJaC9CGn5AYwLplhYL0RAEFclsU8qI0YIWpisqBVU9iCGPlMNu6PTHshunkqfJQ9Cu7blkzYPjUNjhlXhQRTr3DJ5HYbbw/s1600/IMG_8657.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1067" data-original-width="1600" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgM7HQ_Q9SEJcpl3EIh0CGhxEGaBDlEjizImXEpoUNBaRmFfJaC9CGn5AYwLplhYL0RAEFclsU8qI0YIWpisqBVU9iCGPlMNu6PTHshunkqfJQ9Cu7blkzYPjUNjhlXhQRTr3DJ5HYbbw/s320/IMG_8657.JPG" width="320" /></a> A move that was implemented to lengthen the life of the garage opener light bulbs ended up causing more frustration than just having to replace the standard type of bulbs on a somewhat regular basis. If you are having trouble with the performance of your garage door opener and you too have installed LED bulbs on the unit, this is more than likely the problem.<br />
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We have plenty of LED bulbs throughout the interior of our Clarksburg home. The garage door works perfectly with the tried and true incandescent filament type bulbs, I will just have to be content replacing the door opener bulbs more frequently when they fall victim to the wear and tear they are subject to via the opening and closing of the garage door. Lesson learned.<br />
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Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-4560944789576466832018-03-25T16:21:00.001-04:002018-03-25T16:21:33.779-04:00What A Difference A Year Makes! After ending 2017 with another year of record MLS® real estate sales in southern Georgian Bay with sales exceeding $1 billion, 2018 has gotten off to a much slower start.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiRoWweaX6XGCARHQDd3dNiVab86zRDrVCKuSK5Zz4WyqefLLi1b68M9stYOTAuH9KrDLEFB6_wurNDEw3e8QYQ9dyw7gxncayLY1NAYd9YNS8SIYLrmwCpVX8cOeEnbb6JQF00Rj16WA/s1600/Total+YTD+Sales+in+Dollars.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiRoWweaX6XGCARHQDd3dNiVab86zRDrVCKuSK5Zz4WyqefLLi1b68M9stYOTAuH9KrDLEFB6_wurNDEw3e8QYQ9dyw7gxncayLY1NAYd9YNS8SIYLrmwCpVX8cOeEnbb6JQF00Rj16WA/s200/Total+YTD+Sales+in+Dollars.jpg" width="200" /></a> MLS® sales reported by the Southern Georgian Bay Association of REALTORS® to the end of February totalled $93.0 million, down 25% from the $124.4 million in properties sold during the first two months of 2017 and 10% below the same period in 2016. A total of 202 properties have sold though the local MLS® system this year, down 20% from the 254 properties sold in the first two months of last year and 29% below the 285 sales in the same period of 2016.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpc9iYc4ZeLGYUwQjWKaFepSgG-N9kYBBC0jmDd3qO7IgpoXoyT0s5-qB4FVnFFt0dmkqacZR6O-TJEClwUV8e4-v4T5akUnikRdyU-RlGAPbIaVoOCn6spJqTZY9IMVDqBx8pnX6yOg/s1600/Monthly+Sales+in+Dollars.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpc9iYc4ZeLGYUwQjWKaFepSgG-N9kYBBC0jmDd3qO7IgpoXoyT0s5-qB4FVnFFt0dmkqacZR6O-TJEClwUV8e4-v4T5akUnikRdyU-RlGAPbIaVoOCn6spJqTZY9IMVDqBx8pnX6yOg/s200/Monthly+Sales+in+Dollars.jpg" width="200" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhrVMttFw6acEnZaZzk-JoYg8KVF_GyvkVUw7y_RSdmjSPxrUFZ89X_aXdOEuBgVQiajPxLFqZ1fLe2K_u3B8TfenEsQtJlEKFDdCdx9HkIS44vE9Wdw0dw9S2MxQgEB_hD42BtOWpT-g/s1600/Monthly+Sales+in+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhrVMttFw6acEnZaZzk-JoYg8KVF_GyvkVUw7y_RSdmjSPxrUFZ89X_aXdOEuBgVQiajPxLFqZ1fLe2K_u3B8TfenEsQtJlEKFDdCdx9HkIS44vE9Wdw0dw9S2MxQgEB_hD42BtOWpT-g/s200/Monthly+Sales+in+Units.jpg" width="200" /></a> While demand for area properties in 2017 remained strong and is expected to continue in 2018, sales activity suffered last year primarily resulting from inadequate inventory levels. Year-to-date MLS® new listings total 396 properties which represents a 4% increase over the first two months of 2017. While admittedly this is not a significant increase it is encouraging to see more inventory coming to market as we head into the spring market when buyer demand starts to increase. Another important aspect to the real estate market in 2018 will be increased mortgage rates as well as stricter rules for borrowing. Tighter lending rules that came into affect earlier this year are sure to impact market conditions overall in 2018 especially for first time buyers. This will no doubt include what buyers are willing to pay as well as what mortgage amounts lenders are prepared to extend to their clients. Sellers need to be conscious of these potential pitfalls when shopping for a home or condominium and this is where we as REALTORS® can be of significant value. Current market conditions are not what they were twelve or fourteen months ago and for property owners serious abut selling, now is not the time to be over-pricing your property beyond its respective market value. Doing so will certainly impact what a buyer is willing to pay and more importantly, the amount of money their lender may be willing to extend them in the form of a mortgage. Look for more on this topic in my upcoming posts.<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhikh-YWgLabajZXZbbT98I3hXafRnqrFLQiv-5tBLelpUy7CMXgJ5q_R12YorPD-UmpSxYFw2NY0ly8eVx23lvuEMs70gjPqeGztO6op78_cy9B_VmIZBNjxWXFSrdPQQOPj4qDoNINg/s1600/Monthly+Listings+in+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhikh-YWgLabajZXZbbT98I3hXafRnqrFLQiv-5tBLelpUy7CMXgJ5q_R12YorPD-UmpSxYFw2NY0ly8eVx23lvuEMs70gjPqeGztO6op78_cy9B_VmIZBNjxWXFSrdPQQOPj4qDoNINg/s200/Monthly+Listings+in+Units.jpg" width="200" /></a><br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOaFLfTwD0AuR8fB0tjU3r4rh-ZHOraB_mvmCWOI94bPIpiVebvxsSIfkFNA2IuXDrwrc3dCZEuaOIaD6Ug_K9Sbp1mVoAqw006EbznynG6usfvcSKNbSehLAtuqJhm9wXvhZFn_YCpw/s1600/Sales+by+Minicipality+in+Unit.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOaFLfTwD0AuR8fB0tjU3r4rh-ZHOraB_mvmCWOI94bPIpiVebvxsSIfkFNA2IuXDrwrc3dCZEuaOIaD6Ug_K9Sbp1mVoAqw006EbznynG6usfvcSKNbSehLAtuqJhm9wXvhZFn_YCpw/s200/Sales+by+Minicipality+in+Unit.jpg" width="200" /></a> The brightest spot in the local real estate market last year was in upper end home sales. During 2017 we experienced a very strong demand for homes priced from $500,000 and higher. Upper end MLS® home sales in our area between $500,000 and $1 million last year totalled 571 units, an increase of 32% over 2016. The same could be said for sales between $1 and $2 million last year where sales were up s whopping 65%. Thus far 2018 has been a much different story. Unit MLS® sales between $500,000 and $799,999 are down 28% while sales from $800,000 to $999,999 are 20% below the same time last year. Sales in the $1 to $2 million price range are down 33% year-to-date. Lastly there have been no sales this year over $2 million whereas in the first two months of 2017 there were three.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjcZ_eQzi3EvyjdnyuONslgERVZ-xlBpoc3vPbgnldyxxzX578ANv4m6yQpPaqvy5skkHLIXgzgRcdTMnoHQT0BBjf5N8wjTS5_Mz5pKy33jO9DNttI1D8ilkt43NRfAioccnnwWKNlIw/s1600/Sales+by+Type+in+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjcZ_eQzi3EvyjdnyuONslgERVZ-xlBpoc3vPbgnldyxxzX578ANv4m6yQpPaqvy5skkHLIXgzgRcdTMnoHQT0BBjf5N8wjTS5_Mz5pKy33jO9DNttI1D8ilkt43NRfAioccnnwWKNlIw/s200/Sales+by+Type+in+Units.jpg" width="200" /></a> It will be interesting to see how the rest of 2018 plays out. As both a Broker and a Market Value Appraiser I watch this data very carefully in order to advise both my buyer and seller clients as to their best options in this ever changing market. For a no obligation consultation as to your specific real estate needs and or goals, please do not hesitate to <a href="http://www.rickcrouch.realtor/contact.cfm">Contact Me.</a> For more details on the luxury home market in our area please see my <a href="http://carriagetradehomes.blogspot.ca/">Southern Georgian Bay Carriage Trade Homes</a> blog.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-xR1_paBHastaLrQh4iqNUdeSZwYtZLdsvy3px0k7IcEGpQTO5-5uzVRElqxIdlT9PNN_mDbu6Trr7GdJzMrZ16dQDfkLUNf8r1lq2tq9MK2u1VZAEOp5_BePyyvfbPyvApjs_a7WBQ/s1600/Sals+by+Price+Range+in+Dollars.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-xR1_paBHastaLrQh4iqNUdeSZwYtZLdsvy3px0k7IcEGpQTO5-5uzVRElqxIdlT9PNN_mDbu6Trr7GdJzMrZ16dQDfkLUNf8r1lq2tq9MK2u1VZAEOp5_BePyyvfbPyvApjs_a7WBQ/s200/Sals+by+Price+Range+in+Dollars.jpg" width="200" /></a><br />
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<br />Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-36613697626371014442018-02-25T13:25:00.001-05:002018-02-25T13:25:18.877-05:00Beware The Word "Winterized" When Contemplating A Real Estate Purchase Having been a full time REALTOR® now for over 15 years, I have always tried to learn a thing or two every month that will help my seller and buyer clients with their real estate transactions.<br />
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Too often information given about properties is inaccurate and or does not conform to our REALTOR® code of ethics requirements which may result in failure to act in the appropriate manner to protect clients. One term that appears far too often and shouldn't in MLS® and other published information about a property says that the dwelling such as a cottage is "winterized." When used to describe a property that is listed for sale, the word winterized is used to imply that the dwelling can be lived in year round.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1UNNZlZ0MZYph2jpyZjRThNakVqZvYGeaPZp-_ECN5l95o8n1Go6Mqt3HaRWLiEcb37bBKlC3He-cJmjR2zkFrbLibMxx2Xu73gdOB-50qtOC-zWYv23WY6mqrdKw_ig4TcS4ZKsNAA/s1600/Cottage.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1200" data-original-width="1600" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1UNNZlZ0MZYph2jpyZjRThNakVqZvYGeaPZp-_ECN5l95o8n1Go6Mqt3HaRWLiEcb37bBKlC3He-cJmjR2zkFrbLibMxx2Xu73gdOB-50qtOC-zWYv23WY6mqrdKw_ig4TcS4ZKsNAA/s320/Cottage.jpg" width="320" /></a> During my early days of real estate training, one of our instructors told us to never use the adjective "winterized" to describe a property. It is somewhat of a vague term and the instructor said that nowhere in real estate terminology was the word even recognized. I have scoured through a lot of real estate glossaries with a variety of terms from A to Z and never have I seen the word winterized which raises the question what does the term "winterized" mean?<br />
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The accompanying photo is my own cottage that was taken last winter. I own this property along with my brother and 2018 marks our 45th year of ownership. There is also a second cottage on the property located above our two car garage. Both cottages have been updated and well maintained including municipal water and sewer, wood burning fireplaces and electric heat. The walls and attics are insulated and they are accessible year round. Can and do we use them in the winter? Sometimes. Would I ever describe them as being "winterized?" Absolutely not.<br />
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One of the neighbouring properties to my cottages is currently listed for sale. It has been a full time year round residence for a number of years and in additional to the main house there are three cottages. The MLS® description of the property says among other things that there are "....three completely finished cottages, one fully winterized, one partially winterized." Once again this begs the questions, what does winterized" mean and what happened to the third "fully finished" cottage which I gather is neither fully or partially winterized.<br />
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Every year I winterize my car, motorcycle, boats, lawnmower, snowblower etc. I even winterize the cottages meaning that the municipal water is shut off, the pipes are drained, the chimneys are covered, the phone service is shut down for the winter and lastly the hydro is turned off. This is the standard practice of correctly preparing equipment and properties for the long cold winter months. Claiming that a property is "winterized" in any type of sale listing description is not and I highly recommend you use a reliable REALTOR® when considering making an offer on any property that is touted as being "winterized." <br />
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If you have any questions or comments I look forward to hearing from you, please feel free to <a href="http://www.rickcrouch.realtor/contact.cfm">Contact Me</a>. <br />
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<br />Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-66061860932910482642018-02-15T13:58:00.003-05:002018-02-15T13:58:35.935-05:00Georgian Triangle Real Estate Market - 2017 Year In Review<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgTcPPmFFG6a2sXKdG04IgJyr90uC5lBm9JPvKXIRfZgpB4sAvXZW0ypFsblxY9CDFN1OZAUfm4SH0PTQxVsTxhEDZX415LlGZWShyoS08zp1wUsn-hHfr9fzY8xMfolD3P8AtNa2_Sow/s1600/Total+YTD+Sales.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgTcPPmFFG6a2sXKdG04IgJyr90uC5lBm9JPvKXIRfZgpB4sAvXZW0ypFsblxY9CDFN1OZAUfm4SH0PTQxVsTxhEDZX415LlGZWShyoS08zp1wUsn-hHfr9fzY8xMfolD3P8AtNa2_Sow/s200/Total+YTD+Sales.jpg" width="200" /></a> During 2017 we continued to see a strong demand for real estate across the southern Georgian Bay Region. Following record MLS sales that were reported by the Southern Georgian Bay Association of REALTORS in 2016, the bar was raised once again in 2017 with total MLS volume for the year of $1.091 billion. This was roughly a 5% increase in sales over 2016.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjX4UcwamVUNahYETrx6ULiY3P4sC1d_2gtGTagnJDmjI_VQlR0puGlykh5Ww_dKLrFT0uodZMUzv2oY0ouvbe8ShkFh5EK8BC-kzjTDgrAHmHJfuLraOKx1Ie5BWM2Tmvv3ZBACVOqiQ/s1600/Monthly+Sales+Dollars.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjX4UcwamVUNahYETrx6ULiY3P4sC1d_2gtGTagnJDmjI_VQlR0puGlykh5Ww_dKLrFT0uodZMUzv2oY0ouvbe8ShkFh5EK8BC-kzjTDgrAHmHJfuLraOKx1Ie5BWM2Tmvv3ZBACVOqiQ/s200/Monthly+Sales+Dollars.jpg" width="200" /></a> Despite the higher sales volume last year, a shortage of MLS listed properties for sale continued to plague the local real estate market in 2017. Sales activity in the first half of 2017 remained strong, with MLS unit sales to the end of June up 1% or roughly the same equivalent from 2016. MLS sales volume at the end of June were up 27% and totalled $6234 million. Meanwhile MLS listings during the same time frame were down 16% from the first six months of 2016 totalling 2,014 properties compared to 2,385 new listings one year earlier.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgiLdefoXLqKdCbnMr09HmOXZDrvnObbvR_L18CK8lvmwDigoauHoeAPQuNgd9-29cIv78_UBvf8yhati3pXliKQedaWpjxZT5zgfWjbW8P6IWEwhrgz_x0tRBoXMMelzEdDoLqZSe0Jw/s1600/Monthly+Sales+Units.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgiLdefoXLqKdCbnMr09HmOXZDrvnObbvR_L18CK8lvmwDigoauHoeAPQuNgd9-29cIv78_UBvf8yhati3pXliKQedaWpjxZT5zgfWjbW8P6IWEwhrgz_x0tRBoXMMelzEdDoLqZSe0Jw/s200/Monthly+Sales+Units.jpg" width="200" /></a> Despite the shortage of properties listed for sale, MLS dollar sales in 2017 remained strong as the result of increased sales in the higher price ranges primarily the $500,000 to $2 million category. Sales of properties between $500,000 and $1 million were up 31% and 36% respectively totalling 571 units compared to 432 in 2016. Sales between $1 to $1.5 million increased 63% with 83 sales reported versus just 51 a year earlier. Lastly, sales in the $1.5 to $2 million range were up 71% with 29 sales compared to 17 in 2016.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihuhqnFF3yKPFaJb8HqTTHAHy_bihmPW0gCmuMhHmn6bTrGbINw9scGYvYK-HGhhINT5YH7PQyt4GnQoMSrdYLhxBVAUcg4mRf6dgGh_Z_pD3eLJj29zSn_YbVy_sT3GC3oPIms89Tlg/s1600/Sales+by+Type.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihuhqnFF3yKPFaJb8HqTTHAHy_bihmPW0gCmuMhHmn6bTrGbINw9scGYvYK-HGhhINT5YH7PQyt4GnQoMSrdYLhxBVAUcg4mRf6dgGh_Z_pD3eLJj29zSn_YbVy_sT3GC3oPIms89Tlg/s200/Sales+by+Type.jpg" width="200" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjR7JcdsRXJ69RQ4fz-yyf0dxWX6DA4ZB0DGY6Me88VBnS-34NMZocTSdRcNaOtQ8Pg1XhcfQfDmXs3TZ3U1vcQKhGKKOGd4cSr1gwWExfz5OM-mi5fms0lRNZNb_9sZv6fmis09f2yYQ/s1600/Monthly+Listings.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjR7JcdsRXJ69RQ4fz-yyf0dxWX6DA4ZB0DGY6Me88VBnS-34NMZocTSdRcNaOtQ8Pg1XhcfQfDmXs3TZ3U1vcQKhGKKOGd4cSr1gwWExfz5OM-mi5fms0lRNZNb_9sZv6fmis09f2yYQ/s200/Monthly+Listings.jpg" width="200" /></a> In total there were 1,551 MLS single family homes sales in 2017 a reduction of 19% from 2016. Condominium sales in 2017 totalled 523 units an increase of 9 units or 2% from the 514 condos sold in 2016. Lastly, MLS sales of vacant land in 2017 totalled 316 properties, an increase of 4% over the number of vacant land properties sold in 2016. As pointed out in the past, these MLS sales and listing statistics do not include properties listed, built and or sold by developers outside of the local MLS system. The Blue Mountains was the only area municipality that realised an increase in MLS sales of existing single family homes in 2017 with 227 sales reported compared to 223 a year earlier. All other municipalities saw a reduction of MLS residential home sales in 2017 their results are as follows: Grey Highlands down 26%, Cleaview down 25%, Wasaga Beach down 21%, Collingwood down 15% while sale in the Municipality of Meaford were down 13%.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3oHGUwlZFqKcKfd9GLVLJdSP_ELtjQsEMM_5oe2hSEmRRTgEM0SqguH2ZtGiK43DhPPO-sM_79rt4yzIHPqxG5WxfRSb-Awi8mwt1lLhOo73-7xXzN-NaTXfpCy0Sud5-iIrZgs-RBA/s1600/Single+Family+Sales+by+Area.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="720" data-original-width="960" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3oHGUwlZFqKcKfd9GLVLJdSP_ELtjQsEMM_5oe2hSEmRRTgEM0SqguH2ZtGiK43DhPPO-sM_79rt4yzIHPqxG5WxfRSb-Awi8mwt1lLhOo73-7xXzN-NaTXfpCy0Sud5-iIrZgs-RBA/s200/Single+Family+Sales+by+Area.jpg" width="200" /></a> As we head into 2018 I feel that we will see a change in market conditions especially from the hectic first few months of 2017. Inventory will no doubt remain soft and the recent changes in mortgage rules will no doubt impact some buyers and that may well decrease the multi offers and over list price sales that we experienced in the early months of last year. Meanwhile, the development of new homes and condominiums in the area will serve to add some much needed housing inventory to our market(s) over the next 2 to 5 years. The demand for area properties will remains strong, fuelled to a large degree by buyers from the Greater Toronto Area and from cities in southwestern Ontario such as Guelph, Cambridge, Kitchener, Waterloo, London and others. We are still in the early stages of buyers in their retirement years looking to move to this area long term.<br />
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As I have stated before, the challenge(s) for many of the local municipalities will be to manage the growth of the southern Georgian Bay area in such a way as to preserve the very reason why people want to vacation and or retire here in the first place. Municipal services such as sewer, water and the local transportation infrastructure will all feel the pressures of the coming market growth.<br />
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For further information on real estate sales in this area please visit the <a href="http://www.rickcrouch.realtor/newsletters-229.cfm">Newsletter</a> section of my personal real estate website <a href="http://www.rickcrouch.realtor/index.cfm">www.rickcrouch.realtor. </a> For a confidential no obligation conversation about you buying or selling real estate needs please feel free to <a href="http://www.rickcrouch.realtor/contact.cfm">Contact Me</a>. <br />
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<br />Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0tag:blogger.com,1999:blog-3185452916232496236.post-20064951950263473682017-12-06T15:44:00.001-05:002017-12-06T15:48:47.925-05:00The Importance of Property Photos When Selling - Part 1 In a prior post I ranted about REALTOR® photos and how unnecessary I felt they were from both a business branding perspective but more importantly they serve no real purpose in serving buyer and seller clients. The flip side of this argument is property photos and how important they have become in the marketing and sale of homes and other forms of real estate.<br />
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When I started in real estate 15+ years ago, our MLS® system at the time allowed for a maximum of three photos with each listing. Those were back in the days when a paper MLS® catalog was still in use by most agents and an Internet based MLS® system was gaining momentum. Subsequently the number of photos was expanded to nine then it jumped to thirty. Thirty photos is not bad especially when a virtual tour can also be posted to a listing highlighting details of the property even further. As of this posting we are in the final stage of moving to an entirely new MLS® platform which has the capability of holding fifty photos per listing and photos can also be labelled.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYyRORVxR3oVcO0953JoiMz47wlrYhYSIv-mwx3VuNwtFNJcdkDvWLungmdEUIC5IsvIbAqrFNQM0MhiD2hR6y65d9bHShFpvCLrvExFrKgUA7kqTCfQx3YUFopbG50g25GdxuWKpbAg/s1600/149+Bay+Street.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1064" data-original-width="1600" height="212" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgYyRORVxR3oVcO0953JoiMz47wlrYhYSIv-mwx3VuNwtFNJcdkDvWLungmdEUIC5IsvIbAqrFNQM0MhiD2hR6y65d9bHShFpvCLrvExFrKgUA7kqTCfQx3YUFopbG50g25GdxuWKpbAg/s320/149+Bay+Street.jpg" width="320" /></a>Photos often make or break whether a consumer gives serious thought to a particular listing and or actually go to see the property first hand. Not only are the number of photos important but also the quality. A recent study in the U.S. showed that listings with professional photos got on average 61% more views, yet many REALTORS® seemed more preoccupied with their personal photo versus those for their listing(s) which after all is where the money in this business is made. I know myself that when I go on a listing and see a lack of photos especially of the interior, right away I am suspect of how the property shows in person and typically it's poorly. The more ambitious and astute REALTORS are not only leveraging photos in their listings but they are talking it one step further on social media platforms such as Facebook, Pinterest, Instagram and others.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsiDZLS9qArVo0ZnBIeQtzDu-Y6UpHwI_J-uJ-ytTpoHwENxsj6bakPmb6ToejPcu4u8R6-eJ2RVFmvDtWUerTdmcxZosJT_OiCiitwOR4jXgz2T7nYnvCeY2mIHxDzgMu-SfxKcPGPA/s1600/Drone+2.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1018" data-original-width="1600" height="203" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsiDZLS9qArVo0ZnBIeQtzDu-Y6UpHwI_J-uJ-ytTpoHwENxsj6bakPmb6ToejPcu4u8R6-eJ2RVFmvDtWUerTdmcxZosJT_OiCiitwOR4jXgz2T7nYnvCeY2mIHxDzgMu-SfxKcPGPA/s320/Drone+2.JPG" width="320" /></a> Every house tells a story and photographs play a big role in conveying that story. Both quality and the quantity of photos comes into play yet too often these are ignored. Today there is no excuse for poor quality pictures or a lack thereof other than REALTOR® laziness. Newer smartphones and tablets take good quality photos including panoramas. Personally I use a Canon DSLR camera, often with a wide angle lens which does a better job of capturing an interior room without any distortion. In addition a separate flash is a must and often a tripod. My photo arsenal also includes drone shots which I have had done by a fully licensed and insured professional. I do own my own drone which I have flown extensively for recreational use but until such time as I am licensed, I am not going to break Transport Canada rules.<br />
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In my next post I will comment on photo quality. In the meantime, for those of you that may be thinking of selling and are interviewing prospective REALTORS®, make a point of asking them about their use of photos in the listing. Next to the correct list price, photos are the next most important aspect of successfully marketing your home or other property.<br />
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<br />Rick Crouchhttp://www.blogger.com/profile/10498345847396880634noreply@blogger.com0