The resale housing market across Canada has rebounded significantly in the second quarter of 2009 wherein sales exceeded those reported during the same three months of 2008. When uncertainties about both our domestic as well as the global economy surfaced last year, many potential buyers which retreated to the sidelines are now back. As has historically been the case, soft market conditions typically create a pent-up demand which sooner or later comes back stronger than ever. Those waiting for the market to in fact bottom out will only know this has happened when prices start to increase so “timing” the market to maximize the greatest financial benefit whether selling or buying is next to impossible to gauge. Resale housing sales across Canada during the second quarter totaled over 147,000 properties, the fourth strongest quarter for sales ever reported. MLS® sales in the Georgian Triangle during the second quarter totaled 535 properties down 3.6% from the 555 units sold in the second quarter of 2008.
Several segments of the expensive, upper-end market have come back sharply in most markets across Canada which tends to skew both the national and local “average” residential prices. “Average price” is a term which the media focuses on relentlessly thus giving consumers misleading information with respect to overall pricing trends both up and down. Whether buying or selling, it is always best to contact a local REALTOR® that has access to MLS® data specifically for your market area and price range in order to correctly gauge what is truly happening with prices for a specific property location and type.
Nationally, MLS® home sales rose almost 18% in June, the local market showed similar gains posting a 16% increase in unit sales over June of 2008. The inventory of new resale home listings coming onto the market has continued to decline in recent months. Year-to-date the number of new residential MLS® listings throughout the Georgian Triangle has decreased 5%. The age old relationship of supply and demand has as a result, created a stable market in terms of pricing throughout our area. Over-priced properties simply do not generate interest and as a result do not sell. We continue to have a great number of these scenarios in the local market as is evidenced by the fact that the number of expired listings in the local MLS® system has risen 31% in the first six months of 2009 versus the same period in 2008.
Click on the link below to listen to a podcast by the chief economist of the Canadian Real Estate Association regarding resale housing market activity in the second quarter.
mms://wm.streamingmediahosting.com/canadianrealestate/klump_july_09.wmv
Sunday, July 19, 2009
Thursday, July 16, 2009
Round and Round We Go!
Located at the junction of Mountain Road and Scenic Caves Road, the area's first traffic roundabout is really starting to take shape so-to-speak. Collingwood has reviewed the concept of implementing roundabouts at various locations around Town and are intending to install them at some point on High Street. The Blue Mountains however have one-upped Collingwood by seeing the merit of using this form of traffic control to better manage the flow of vehicles into the south end of Blue Mountain Resort, up the escarpment via Scenic Caves Road and on Mountain Road to and from Collingwood.Roundabouts have been used elsewhere, particularly in Europe for years as well as in other ski resort destinations such as Aspen, Colorado. While living in Chicago, I regularly encountered them throughout certain suburbs. Most will at some point in time have used the one on University Avenue in Toronto by Queen's Park without even perhaps realizing what it was. Given the adverse winter driving conditions we encounter in this area, combined with the over zealous drivers racing to beat the morning rush to the ski slopes, this will be an interesting experiment to watch. If the Mountain Road location works with minimal incidents/collisions, then roundabouts will work anywhere. If not, then it might be a good location for the insurance industry to set up a claims centre. Time will tell.
Commercial Vehicles
In the continuing saga regarding the debate over commercial vehicle parking in residential areas, the following was emailed by myself to Collingwood Council for their deliberation on the matter.
Mayor Carrier and Members of Council.
During the public meeting of July 6th, it was apparent that there are two strongly opposing sides re: the issue of commercial vehicle parking in residential areas.
Those against, (myself included) would appear to be respectful of the assets and community identity(s) that we as the current custodians living in this municipality have to be mindful of and to protect for future generations to aspire to live in and enjoy. Those for this controversial bylaw change are certainly entitled to make a living however a person’s livelihood should not come at all cost nor at the expense of your neighbours. I believe that Council has shown this to be the case with respect to the Collingwood Ethanol situation wherein trading jobs for our environment was not acceptable. As with our natural environment, neighbourhood environments deserve the same level of consideration.
Using current economic conditions and the lack of significant new jobs in the area are hardly valid arguments to support the need for self employment and the ability to park a commercial vehicle in one’s driveway. Recessions typically last 9 to 14 months whereas the decision you make regarding this issue will last a lifetime.
A couple of years ago those of us in the real estate profession worked diligently and cooperatively addressing the use of real estate For Sale and Open House signs. These signs although rather small and temporary in their use were felt by some to be an eyesore and detracted from the overall appearance of the Town. We were sensitive to these concerns and arrived at an amicable solution with Town staff which has worked to everyone’s satisfaction. A “For Sale” or “Open House” sign erected temporarily for a few hours to a few weeks is in no way even remotely comparable to a large commercial vehicle with graphics and other lettering adorning a private residence on a daily basis/permanent basis.
As I stated during the public meeting on July 6th, people’s homes now more than ever have become their sanctuaries. It is where they go at the end of their workday and on weekends to relax with family and friends and this is being done so on an ever-increasing basis. A study just released by the Canadian Real Estate Association indicates that from 2005 to 2007, the amount of money spent by Canadian homeowners on renovations and home improvements during their 3 years of home ownership has doubled to $15,000. In Ontario the number is actually higher at $15,875. Based on the residential property sales in Collingwood for the period in question (2005 – 2007) this could arguably have an impact of $12.9 million in economic income to local business. I do not belief that the owners of commercial trucks looking to park said vehicles in their driveways can boast of anything even close to that number. Vacations are actively being replaced by “staycations” with homeowners improving their homes and yards both to enjoy as well as to further enhance their investment. Their willingness to do so may be compromised if commercial vehicles are allowed to invade residential neighbourhoods with the owner electing to move versus improve. One can only speculate as to the impact on property values but I can state unequivocally that many buyers will resist purchasing a home in an area faced with having to cope with the presence of a commercial vehicle next door or across the street.
Decisions with respect to planning and other matters made in the past have already had a profound impact on our Town. The Town’s identity has in fact been compromised on occasion in favour of the commercial identity for those such as Wal Mart, Home Depot and others. Now is the time to stop and reflect on why people choose to come here in the first place. Spending millions to improve Hurontario Street or adding to our parks and trail systems are worthy initiatives to improve the lifestyle that Collingwood residents have come to enjoy but what’s the point if individual neighbourhoods are deflowered of their aesthetic appeal?
Other alternatives do indeed exist with respect to the off hours parking of commercial vehicles. I note that Hydro One has several vehicles parked in a secure, fenced-in area within one of the public storage facilities on the 10th Line. There is little chance of theft and certainly no opportunity exists for “Lot Lizards” to ply their trade. In addition the parking of these vehicles in such facilities in itself is an economic benefit.
Lastly, there is a fundamental lack of courtesy and respect being shown to their neighbours by those in favour of this bylaw. As was presented at the July 6th meeting condominium owners are protected by the rules and regulations of their respective condominium corporations. Single family home owners many of which have a far greater financial investment than their condo dwelling counterparts are entitled to the same level of enjoyment and protection of their properties. By voting against this proposed change, you will ensure that they receive it with little or no economic consequences within the municipality or service standards to consumers as a result.
Yours for a better Collingwood.
Mayor Carrier and Members of Council.
During the public meeting of July 6th, it was apparent that there are two strongly opposing sides re: the issue of commercial vehicle parking in residential areas.
Those against, (myself included) would appear to be respectful of the assets and community identity(s) that we as the current custodians living in this municipality have to be mindful of and to protect for future generations to aspire to live in and enjoy. Those for this controversial bylaw change are certainly entitled to make a living however a person’s livelihood should not come at all cost nor at the expense of your neighbours. I believe that Council has shown this to be the case with respect to the Collingwood Ethanol situation wherein trading jobs for our environment was not acceptable. As with our natural environment, neighbourhood environments deserve the same level of consideration.
Using current economic conditions and the lack of significant new jobs in the area are hardly valid arguments to support the need for self employment and the ability to park a commercial vehicle in one’s driveway. Recessions typically last 9 to 14 months whereas the decision you make regarding this issue will last a lifetime.
A couple of years ago those of us in the real estate profession worked diligently and cooperatively addressing the use of real estate For Sale and Open House signs. These signs although rather small and temporary in their use were felt by some to be an eyesore and detracted from the overall appearance of the Town. We were sensitive to these concerns and arrived at an amicable solution with Town staff which has worked to everyone’s satisfaction. A “For Sale” or “Open House” sign erected temporarily for a few hours to a few weeks is in no way even remotely comparable to a large commercial vehicle with graphics and other lettering adorning a private residence on a daily basis/permanent basis.
As I stated during the public meeting on July 6th, people’s homes now more than ever have become their sanctuaries. It is where they go at the end of their workday and on weekends to relax with family and friends and this is being done so on an ever-increasing basis. A study just released by the Canadian Real Estate Association indicates that from 2005 to 2007, the amount of money spent by Canadian homeowners on renovations and home improvements during their 3 years of home ownership has doubled to $15,000. In Ontario the number is actually higher at $15,875. Based on the residential property sales in Collingwood for the period in question (2005 – 2007) this could arguably have an impact of $12.9 million in economic income to local business. I do not belief that the owners of commercial trucks looking to park said vehicles in their driveways can boast of anything even close to that number. Vacations are actively being replaced by “staycations” with homeowners improving their homes and yards both to enjoy as well as to further enhance their investment. Their willingness to do so may be compromised if commercial vehicles are allowed to invade residential neighbourhoods with the owner electing to move versus improve. One can only speculate as to the impact on property values but I can state unequivocally that many buyers will resist purchasing a home in an area faced with having to cope with the presence of a commercial vehicle next door or across the street.
Decisions with respect to planning and other matters made in the past have already had a profound impact on our Town. The Town’s identity has in fact been compromised on occasion in favour of the commercial identity for those such as Wal Mart, Home Depot and others. Now is the time to stop and reflect on why people choose to come here in the first place. Spending millions to improve Hurontario Street or adding to our parks and trail systems are worthy initiatives to improve the lifestyle that Collingwood residents have come to enjoy but what’s the point if individual neighbourhoods are deflowered of their aesthetic appeal?
Other alternatives do indeed exist with respect to the off hours parking of commercial vehicles. I note that Hydro One has several vehicles parked in a secure, fenced-in area within one of the public storage facilities on the 10th Line. There is little chance of theft and certainly no opportunity exists for “Lot Lizards” to ply their trade. In addition the parking of these vehicles in such facilities in itself is an economic benefit.
Lastly, there is a fundamental lack of courtesy and respect being shown to their neighbours by those in favour of this bylaw. As was presented at the July 6th meeting condominium owners are protected by the rules and regulations of their respective condominium corporations. Single family home owners many of which have a far greater financial investment than their condo dwelling counterparts are entitled to the same level of enjoyment and protection of their properties. By voting against this proposed change, you will ensure that they receive it with little or no economic consequences within the municipality or service standards to consumers as a result.
Yours for a better Collingwood.
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