Archive for December, 2007
How to Ensure a Quick Sale for Top Dollar? Contact Hilary Shantz, Halton Real Estate Agent
December 26th, 2007 Categories: Client Stories and Testimonials, Halton Real Estate, Oakville Real Estate News, Real Estate News
Even over the yuletide season, the wheels of real estate continue to turn.
Here are photos from a home sold last week by Hilary!
How to ensure a quick sale for top dollar?
1) Home Staging: Let Hilary bring in her expert staging consultant Karen Kostyshyn of Home Interior Transformations to prepare your home to wow potential buyers. Karen brings in “props” and with her eye for detail and current decorating trends takes an ordinary home and transforms it into one that looks like a “model home”. (Hilary includes the cost of professional staging in her services offered.)
2) Decluttering: If you are downsizing or have a lot of unnecessary items in your home, talk to Hilary about including a declutttering session in your home selling strategy. A professional organizer can help in sorting stuff out and taking extraneous items away for donation, dump or even resale. Editing your home professionally will make it look more spacious and appealing! (Refer to my article on how buyers buy: you need to have them at hello.)
3) Professional Photographs: Then let Hilary bring in aprofessional photographer to provide just the right lighting and multiple shots to showcase the home to advantage, virtual tours, slide shows. This attracts those who are shopping on the internet. Nowadays some 80% of home buyers start their search online.
4) A Savvy Marketing Plan Unique for Your Home, including exposure to multiple home selling sites on the internet and advertising in the Real Estate Book. Your home will have its own url for “rich detail” so that buyers can be sold on the home even before actually viewing it.
5) Pricing it Right: To price a home right, you need to know what has sold recently in the neighborhood and for how much, current economic factors that affect the forces of supply and demand, number of other homes currently for sale in that category, and how they have been priced (competing homes), aseasonal factors and their impact on the market, and just basic “intuition” gained from experience, and a “feel for the market”.
Did you know that “Real Estate Spring” begins the second week of January?
Call Hilary 905–257–3633 and her Home-Selling Team to talk about preparing your Halton home for sale!
| Discussion: 6 Comments »
Santa Brought Me a New Home for Christmas! / Burlington Real Estate Agent
December 24th, 2007 Categories: Burlington Beat, Client Stories and Testimonials, Halton Real Estate
It’s Christmas Eve and Kim has signed off today on an almost new Branthaven home in Burlington.
Burlington based Branthaven Homes are synonymous with quality and craftsmanship.
The kitchen has dark cherry wood cabinetry, with brushed nickel knobs, a sunny window seat, breakfast counter.
A fully finished basement with walkout to a private patio, two spacious bedrooms, two bathrooms. Upgrades everywhere, including quality berber carpeting, 9 inch ceilings, high efficiency furnace, water conserving toilets, stylishly contoured dark wooden banisters. Walk to Go to transit, and a stones throw from Starbucks, and other amenities. 
Brian Kuch, home inspector from Global Property Inspections and Boris (my assistant bee) gave the home two thumbs up: “This home is in mint condition”.
Congratulations Kim! Happy Birthday!
I look forward to seeing you in your classy pad in the New Year.
It was fun getting to know you and to have the chance to sell your home and help you relocate to Burlington.
Kim’s testimonial:
Dear Hilary,
I found you to be very patient and professional, even when times were extremely hectic and unstable.
I truly appreciate your dedication and commitment to my home selling and searching process, as I am sure all your clients do.
I know there are sacrifices you make to provide such great service to your clients, and you always seem to be available to us. Your negotiation skills and market knowledge allowed me to find and finally get this amazing home!
Many thanks and have a great Christmas!
Kim
| Discussion: No Comments »
Canadian Real Estate Forecast for 2008
December 19th, 2007 Categories: Latest Real Estate Market News & Stats, Mortgages, Economics, Finance, Real Estate News
Oakville Real Estate, Burlington Real Estate, Halton Real Estate, Canadian Real Estate
I am reprinting the Royal LePage Market Survey Forecast for 2008, released this week by Phil Soper, President of Royal LePage.
It is a good summary of the main economic factors that are influencing the Canadian residential housing market. Note the chart showing price increase broken down by city, from 2006 to 2007, and the forecast for 2008.
In Oakville, Burlington, and the Greater Toronto Area, prices rose on average 6.6% from 2006 to 2007. This was less than the Canadian average which was 10.7%. For Canada and GTA Royal LePage is predicting 3.5% increase in house prices for 2008. I read recently that ReMax is predicting a 5% increase for the Greater Toronto Area. Royal LePage is traditionally quite conservative in its predictions.
Following is the report:
Solid economic fundamentals should allow Canada’s residential real estate market to chart its own course and maintain its buoyancy throughout 2008
TORONTO, December 17, 2007 – After experiencing an exceptional year characterized by strong average house price appreciation and record breaking unit sales, the momentum from 2007 is anticipated to carry over and position Canada’s real estate market for steady, yet moderate growth in 2008, according to the Royal LePage 2008 Market Survey Forecast released today.
Nationally, average house prices are forecast to rise by 3.5 per cent to $317,288 in 2008, while transactions are projected to fall slightly from this year’s record high unit sales to 500,927 (–4.0 %) unit sales in 2008. Despite the year-over-year reduction in unit sales, the number of homes trading hands in 2008 is expected to remain higher than in all years prior to 2007.
“Canada’s housing market in 2008 should continue to thrive on a balanced diet of strong economic fundamentals, including high levels of employment, resilient consumer confidence, modest levels of inflation and the relatively low cost of borrowing money,” said Phil Soper, president and chief executive of Royal LePage Real Estate Services. “Canada is currently enjoying one of the longest housing market expansions in history; however, as we move into 2008 it is anticipated that slowly eroding affordability will cause demand to ease, allowing the market to move toward balanced conditions, with lower levels of price appreciation, and fewer homes trading hands.”
With the most affordable major market homes in Canada, residents of Regina and Winnipeg are forecast to drive the greatest increases in house prices in 2008, as job opportunities and in-migration continue to soar in each city. While Calgary and Edmonton will continue to boast healthy economies and high levels of home sale activity, the excessively fast run-up of home values in 2006 and the first half of 2007 priced people out of the market, causing inventory levels to rise late in the year. Alberta home price increases will be much more moderate in 2008 as the regional market continues to adjust to the new house value reality.
With the country’s highest home prices, Vancouver’s steadfast market will continue to expand on the back of a strong provincial economy. As the city readies itself for the 2010 Olympic Games, there will be an abundance of new jobs created.
Ontario and Quebec markets are anticipated to maintain their relative strength and vibrancy throughout next year, weathering stormy financial markets and adjusting well to the high value of the Canadian dollar. The services based industries that have become the backbone of the Toronto and Montreal economies have tolerated the rise of Canada’s dollar to parity very well, despite increasingly price competitive offering from overseas markets.
In Atlantic Canada, a slight depletion of inventory coupled with high immigration levels will see the housing market growing at a strong and steady pace – Halifax is expected to have higher than national average growth in 2008.
The frenzied pace of price inflation that has characterized the real estate market over the past two years in the resource rich west were unsustainable and should ease substantially in 2008. In Central Canada, price increases peaked in late 2005, and have been moderating since.
From coast-to-coast, the homebuyer demographic is anticipated to swell with first-time purchasers, as many flock to take advantage of recently reduced lending rates, longer amortization periods and the resultant manageable mortgage payments.
Added Soper: “The year ahead presents opportunities for those people who have shied away from the frenetic real estate market of the past few years, with its bidding wars and unconditional offers; while prices should continue to rise, they are expected to do so at a more reasonable pace. Canada’s economy is strong, and the desire for home ownership remains a vibrant and attainable goal – real estate remains a solid long term investment.”
2008 Market Survey Forecast
|
Market |
08/07% |
2008 Forecast |
2007 Projected |
2007 / 2006 |
2006 |
2005 |
|
Halifax |
6.9% |
$233,000 |
$218,000 |
7.3% |
$203,178 |
$189,196 |
|
Montreal |
3.5% |
$238,000 |
$230,000 |
6.6% |
$215,659 |
$203,720 |
|
Ottawa |
4.2% |
$285,000 |
$273,500 |
6.2% |
$257,481 |
$248,358 |
|
Toronto |
3.5% |
$388,500 |
$375,500 |
6.6% |
$352,388 |
$336,176 |
|
Winnipeg |
11.4% |
$190,000 |
$170,500 |
12.2% |
$151,983 |
$134,028 |
|
Regina |
15.4% |
$188,600 |
$163,500 |
24.0% |
$131,851 |
$123,600 |
|
Calgary |
4.0% |
$429,000 |
$412,500 |
19.0% |
$346,675 |
$250,832 |
|
Edmonton |
1.0% |
$341,000 |
$337,500 |
34.5% |
$250,915 |
$193,934 |
|
Vancouver |
4.0% |
$587,500 |
$565,000 |
10.8% |
$509,876 |
$425,745 |
|
CANADA |
3.5% |
$317,228 |
$306,500 |
10.7% |
$276,974 |
$249,201 |
Highlight of 2008 Trends
Strength of the Canadian Dollar
The position of the Canadian dollar hovering at parity will continue to bolster the country’s high consumer confidence, and is anticipated to translate into continued growth in consumer spending. The negative impact of the high dollar on the country’s manufacturing sector for export trade will be mostly felt in Southern Ontario and Quebec; however, both regions are demonstrating considerable resiliency, with a concerted effort by both governments and industry underway to improve productivity and improve international competitiveness.
U.S. Economy
In sharp contrast to the weakening U.S. economy and deteriorating housing market, Canada’s economy and housing market continues to demonstrate staying power. Canadian mortgage products are markedly different from those offered in the U.S., and the sub-prime market makes up a significantly smaller portion of the overall Canadian mortgage market. It is unlikely that the residential real estate industry in Canada will have to endure the kind of sharp correction underway south of the border.
Employment
Employment rates across the country are expected to continue at the current very high levels, driven by the robust energy and general natural resource sectors specifically, and a very healthy services economy in general. In the year ahead, job market growth is anticipated to continue, especially in Regina, Winnipeg and Halifax.
The move by the Bank of Canada to reduce its overnight target-lending rate by a quarter of a percent in December 2007 will bode well for first-time buyers planning to enter the market in 2008. The relatively low current interest rates, and the possibility that rates could fall even lower in response to moderating inflation and lower rates in the U.S., will continue to attract new buyers to the housing market.
Call Hilary and Her Home-Sellling Team for assistance in buying or selling in Oakville, Burlington, Mississauga, Milton or Georgetown.
| Discussion: 7 Comments »
Hilary Shantz, Oakville, Ontario Real Estate Agent Has Been Meme’d!
December 18th, 2007 Categories: Blogs, Blogging and the Blogosphere, Lighten Up, Oakville Events
Being “meme’d” in blogger’s lingo is being tagged, online, and then having to write 5 things about yourself that others may not know. (See Wikipedia for original definition of meme, in short a unit of cultural information that propagates from one mind to another).
Fellow real estate blogger Janice Gagliardi of Port Orange Juice in Florida meme’d me. Five days till Christmas and so much to do, but let me take a minute to give my random response to this, in the spirit of Christmas!
Five Things You May not Know About Me:
1. When I was five, and sitting in the back seat of the car, I put a paper bag over my dad’s face while he was driving. (Seemed like a good idea at the time.)
2. I have been married for 17 years to my husband Wayne, and we have two kids, Nathan (age 15) and Meagan (age 14). We live in South East Oavkille in a home surrounded by trees.
3. Going to our family cottage in Buckhorn, Ontario in the Kawartha Lakes for the last thirty-five years holds many memories for me. We have no cable tv, land phone or other technology up there, just a hand made birch bark canoe that glides across the water. We have seen deer on the property and have a resident family of beavers. I still remember the squeals of delight from our son when at age four he discovered some turtle eggs, saw them hatch and named each one before putting them back safely in the water.
4. I find real estate to be an emotional roller coaster ride, thrills and spills, one day you’re up one day you’re down, but one thing is guaranteed, it’s never boring. The best thing about it is the people. The most challenging thing about it is you’re always working with people who are under stress.
5. I was born in Edinburgh, Scotland, and lived in Jamaica, Scotland and the Cayman Islands as a child, and have lived in Canada for the last 3+ decades. My grandparents were from China. My husband is Mennonite. His ancestors were originally from Berne, Switzerland where his predecessor Ulrich Shantz left Europe for Pennsylvania 12 generations ago. The family subsequently moved to continue their farming lifestyle to the fertile lands of Kitchener, Waterloo, in Ontario, as did many other Mennonites, in the early 1800’s.
Now I am going to pass this on to to three other unsuspecting bloggers. Merry Christmas, you don’t have to respond till after the 25th!
| Discussion: 4 Comments »
10 Ways to Keep Heating Costs Down This Winter
December 18th, 2007 Categories: Green Trends, Home Maintenance
Oakville Ontario Real Estate, Burlington Ontario Real Estate, Halton Region Real Estate
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The huge snowstorm we had on the weekend reminds us here in Halton Region that we have a few months of winter weather to anticipate. (This beautiful photo – Lone Tree in Winter – was taken by my friend Ashley Hockenberry. Not entirely relevant to the topic at hand, but I wanted to share it with you anyway.) Now that winter is here, being wise about controlling heating costs and minimizing wasted energy are a concern for many of us. Here are some ways to maximize warmth in your home this winter, and reduce heating costs. 1. Dress warmly indoors. When I was a child living in Scotland, most people didn’t have central heating. We were in the habit of dressing warmly or wearing a sweater around the house, thick socks or slippers. 2. Adjust your home thermostat. A good rule of thumb: Set your thermostat at 21°C when you’re home awake, 18°C when you’re sleeping and 15°C when you’re out of the house. Consider purchasing a programmable thermostat to reduce you heating bill by as much as 20 per cent. 3. Let the sun shine in: While up to 25 per cent of your home’s heat is lost through its windows, they are also a source of solar warmth. During daylight hours, keep your drapes open and let the sun help heat your home. In winter, open the blinds and curtains on the sunny side of the house (the south-facing side) when the sun is shining and close them as soon as the sun goes down to retain the solar heat. Close curtains on the shady side of the house (north-facing side). 4. If you don’t have curtains, you may consider installing some. Curtains made from heavy fabric with lots of folds (fullness) can prevent cold air from seeping in and warm air from seeping out, which reduces your heating costs. 5. Insulate your windows with plastic window film to reduce heat loss by 50 per cent, For a good source of window film information and installation, contact www.allprotint.ca and chat with Janet Johnson, right here in Oakville. 6. Check to see where draughts may be coming in. Caulk, seal and weather strip around windows and doorframes, baseboards, ducting and electrical outlets, as well as fireplaces to save up to 20 per cent on your heating bill. 7. Remember to close your fireplace flue when you’re not enjoying a fire. 8. Close interior doors leading to hallways or stairways to keep the heat where it’s needed most. Don’t heat areas of your house you don’t use regularly, such as guest rooms. Close heating vents or turn back thermostats in those areas and close the doors for a painless reduction in heating costs 9. Did you know a bathroom fan can suck all the heated air out of the average house in little more than an hour? Over the course of the winter, ventilation fans can increase your heating costs by a surprising amount. Use both bathroom and kitchen ventilation fans more sparingly in winter. 10. Keep your furnace, heat pump, or other heating equipment in top operating condition. Dirty filters reduce the efficiency of your furnace or heat pump. Poorly tuned units are inefficient and use more fuel. An annual maintenance agreement is well worth the money to ensure that your equipment is properly maintained and will last as long as possible. Do you have any other winter energy conservation tips to share? Use the comments button to pass them on! |
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| Discussion: 3 Comments »
Buying Your First Home? New Ontario Land Transfer Tax Rebate Puts Money in Your Pocket
December 14th, 2007 Categories: First Time Buyers, Oakville Real Estate News, Real Estate News
Today I went to visit a young couple in their new home. They were very happy to have their very own home after renting for years.
So I was glad to read the good news today that first time buyers in Ontario will find it just a little bit easier to get into the market.
Effective today, the Ontario government is giving all first-time home buyers a break on land transfer tax by expanding the Land Transfer Tax Refund Program to include purchases of resale homes.
Ontario Finance Minister Dwight Duncan announced that first-time buyers of resale homes, as well as newly constructed homes, would be eligible for a refund from the provincial government of up to $2,000 of the Land Transfer Tax paid.
The expanded Land Transfer Tax Refund Program for First-time Home buyers is part of a package of new tax initiatives that are expected to provide $1.4 billion in provincial tax relief for business and people over three years.
“The government is making strategic investments in people, communities and infrastructure to strengthen Ontario’s economic advantage and help manufacturers and other sectors challenged by current economic conditions” said the press release issued yesterday.
If you are a first-time home buyer in Oakville, Burlington, Mississauga, Milton, Etobicoke or Georgetown, call Hilary to guide you through the process.
Note, I’ve been getting inquiries requesting more details about this rebate so here are the practicalities:
- Enter into the Agreement of Purchase and Sale after December 13, 2007 (December 14th or later). The date that you entered into the Agreement of Purchase and Sale is considered to be the date at the top of page 1 of the Agreement, NOT the date that all the conditions were fulfilled.
- The rebate hasn’t passed through legislation yet, it’s just a proposal – Passing through legislation takes 1-6 months usually – However, an affidavit is going to be released Friday Dec 14th or Monday December 17th to allow purchasers to apply for the refund, so the likelihood of approval through legislation is pretty good.
- You are allowed up to 18 months from closing to apply for the refund.
- You have to pay the LTT on closing and then apply for the refund thereafter.
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| Discussion: 6 Comments »
