Housing Market Remains Strong in Oakville for First Quarter 2011
April 28th, 2011 Categories: First Time Buyers, Halton Real Estate, Latest Real Estate Market News & Stats, Mortgages, Economics, Finance, Real Estate News
In the first quarter of 2011 the Oakville housing market remained quite healthy. Although the total number of sales was down 10% versus year ago to 754 sales, the average price was up 8% to $612,500 and the median house price edged up 3% t0 $503,500. Part of the reason for the increase in prices despite a drop in sales has been due to less inventory on the market and the maintenance of record low mortgage rates.
The average time that houses are on the market is up to 31 days versus 25 days in the same period a year ago – but this is still very good turnover. The outlook looks good for the second quarter with the Bank of Canada holding the prime rate at 3.00% and 5 year fixed mortagage rates staying below %4.00 with some short-term variable mortgage rates as low as 2.2%.
If you are thinking of buying or selling please give me a call (905.599.3311) and I would be delighted to assist you.
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Fall 2010 housing market to improve (Re/Max)
October 8th, 2010 Categories: Halton Real Estate, Latest Real Estate Market News & Stats, Mortgages, Economics, Finance, Oakville Real Estate News, Real Estate News
Gairloch Gardens, view of Lake Ontario,. Oavkille
You may wish to read this recent article entitled “Fall housing market to improve”, based on findings by Re/Max.
One always has to temper opinions of real estate brokerages, as they tend to be a bit optimistic about predictions, however there are some good points made.
Mortgage experts are predicting that prime – which is now at 3% – will be staying at this level for the next several months.
FOR MORE DETAILED INFO ON LOCAL MARKET CONDITIONS, CALL HILARY, YOUR OAKVILLE REALTOR, AT 905 599 3311.
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Why Move to Oakville, Milton or Burlington? Halton Region Safest in Greater Toronto Region says Maclean’s Magazine
March 23rd, 2008 Categories: Burlington Beat, First Time Buyers, Halton Real Estate, Oakville Real Estate News, Why Move to Oakville?
“Halton Region is a very safe place to live” says Maclean’s Magazine.
I was doing an open house yesterday afternoon in the new area of Bronte Woods and met two families from GTA land, one from Leaside and another that owned a home in downtown Toronto, both planning to relocate to Oakville, “for lifestyle and affordability”.
This is definitely a growing trend, and not surprising, given the relatively higher price of detached homes in Toronto, high property taxes, and now the new municipal land transfer tax which has placed an added financial burden on home-buyers.
Given the many wonderful benefits of living and raising a family in Halton, we will certainly see this trend continue.
But back to the subject of this post.
I noticed an article in The Oakville Beaver last week which said that Maclean’s Magazine recently profiled Halton as the safest place to live in the Greater Toronto Area.
Maclean’s rankings were based on 2006 per capita crime rates for murder, sexual assault, aggravated assault, robbery, break and enters, and auto theft from the Canadian Centre for Justice Studies.
To read more about why Halton is so safe, click here to access the Oakville Beaver article.
The article also says that Halton is the fourth safest region in Canada. Good news for our families and for the value of real estate in Halton. Let’s keep it that way!
LOOKING TO MOVE TO OAKVILLE, BURLINGTON OR MILTON? IT’S A GOOD DECISION! CALL HILARY AT 905–599–3311 TODAY TO HELP YOU FIND YOUR DREAM HOME.
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Can’t Afford A Fancy Condo in Florida or Muskoka Cottage? How’s This for a New Trend?
March 4th, 2008 Categories: First Time Buyers, Halton Real Estate, Investing in Real Estate, Lighten Up, Oakville Real Estate News, Real Estate News
Lisa Valade, my mortgage broker, sent me this photo this morning. If you have champagne taste but a beer budget, might be something to think about!
Call Hilary to talk about your dreams for real estate, 905–599–3311.
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Very Inspring True Story of a 12-year old Child Prodigy
March 3rd, 2008 Categories: Food for Soul and Spirit, Halton Real Estate, Oakville Real Estate News
My friend Grace sent me a link to a CNN video tonight that is so inspring and beautiful I had to share it. Akiane is a twelve-year self-taught artist who expresses deep emotion and spirituality through her paintings. She began having visions that she depicted from the age of four.
Although her mother and her upbringing was atheistic, Akiane from a young age believed in God and was able to express her visions of heaven and God in her art. Her faith began to impact her whole family.
Take a look for yourself, folowing this link http://tinyurl.com/yxewot.
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Another Healthy Year Ahead For Canadian Real Estate Say Speakers at Scotiabank Forum
March 1st, 2008 Categories: First Time Buyers, Halton Real Estate, Investing in Real Estate, Latest Real Estate Market News & Stats, Mortgages, Economics, Finance
Scotiabank held a Canadian Real Estate Outlook and Trends Forum 2008 on February 26 last week. Here are quotes from some of the speakers:
“Our expectations are that balanced conditions will prevail throughout 2008, which will mark a return to a more ‘normal’ environment than the highly skewed sellers market that we have experienced over the better part of this decade.
A stumbling American economy will impact us, slowing growth here at home, yet the solid foundation that supports the contemporary Canadian economy should prevent the housing market here from retracting.
New flexible financial products, affordable interest rates and increasing choice in the condominium market across Canada, will continue to attract first-time buyers to real estate – even in high-priced markets. We can also expect to see a broadening buyer pool, as emerging high growth market segments such as single female buyers are anticipated to take advantage of the favourable market conditions.” – Phil Soper, President and CEO Royal LePage
“The Canadian economy is likely to maintain moderate growth momentum this year and next, with the strength of the development boom in the resource-rich regions of the country providing a much needed offset to the increasing drag on our manufacturing centres from the intensifying U.S. slowdown and persistently strong currency. – Aron Gampel, Vice-President and Deputy Chief Economist, Scotiabank
From a supply perspective, most Canadian markets are still in sellers’ territory, in which prices would be expected to rise faster than inflation. Yet, some of the hottest markets in recent years, including Edmonton, have become much better balanced due to a flood of new listings. Based on a combination of job growth, housing supply and affordability, among this year’s potential outperformers are Saskatoon, Regina and Winnipeg in the West, Sudbury, Hamilton and Quebec City in Central Canada, and St. John’s to the East. – Adrienne Warren, Senior Economist, Scotiabank
Hilary’s Note:
The unseasonably cold and snowy weather conditions in Southern Ontario have certainly put a damper on buyers wanting to brave frigid conditions to go house-hunting, while many sellers are waiting for a bit of a thaw before listing. Any day now we will see more of those FOR SALE and SOLD signs going up!
Read also:
Canadian Real Estate Market: A Decade in Review 1997–2007
Bank of Canada Governor Confirms Canadian Interest Rates to Be Cut
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Oakville and Milton Home Sales and Price Changes for January 2008
February 19th, 2008 Categories: Halton Real Estate, Investing in Real Estate, Latest Real Estate Market News & Stats, Mortgages, Economics, Finance
|
Oakville |
2007 |
2008 |
% C hange |
|
No. of Residential Sales |
217 |
194 |
-11% |
|
Average Sale Price |
$419,533 |
$541,935 |
29% |
|
Median Sale Price |
$362,500 |
$415,000 |
14% |
|
Milton |
2007 |
2008 |
% C hange |
|
No. of Residential Sales |
92 |
74 |
-20% |
|
Average Sale Price |
$315,094 |
$335,493 |
6% |
|
Median Sale Price |
$300,000 |
$320,000 |
6% |
Average and median prices are continuing to rise, while number of sales declined in January 2008 versus last year. Inclement weather in 2008 versus a milder 2007 as well a consumer concerns over the impact of U.S. market on Canada have moderated the number of homes listed and sold for the start of the year.
Stay tuned to The Oakville Buzz for monthly stats on home prices and sales volume. Source: Oakville Milton and District Real Estate Board
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Top Ten Reasons People Move to South East Oakville
February 18th, 2008 Categories: Halton Real Estate, Historical Oakville, Oakville Real Estate News, South East Oakville
The areas of Old Oakville, Morrison and Ford, are commonly referred to as “South East Oakville”. Our family enjoys living here!
I have compiled a Top Ten List of why so many people choose to move here, from other parts of Oakville, or other towns and also from overseas.
1. It’s a mature neighborhood with many trees and gorgeous leafy streets.
2. Homes have larger lots than the newer areas in Oakville. Most lots offer private back yards as their landscape is mature or they back on to woods or parks.
3. Excellent schools, both public and private in the area. Oakville Trafalgar High School has a long tradition of excellence, with a stellar reputation for academics, sports and music. “OT” is one of the oldest high schools in Ontario, celebrating its 150th anniversary in May 2008. St. Mildred’s-Lightbourn School is a prestigious private school for girls, estabisehd more than 110 years ago.
4. Cachet – Since the inception of Oakville this area has been the most prestigious part of the city to live and, with the exception of a few tony neighborhoods in Toronto, boasts the highest priced homes in Ontario.
5. Close to the lake and the gracious estate homes along Lakeshore Road
6. Close to historic downtown Oakville for fine restaurants, cafes, quaint shops and the many festivals throughout the year.
7. Easy commute for people working in Toronto, 5 minutes drive to Clarkson Go Station. From there, on the express train, takes about 20 minutes to get to Union Station in Toronto.
8. It’s a great investment! Homes here appreciate more quickly than in other areas of Oakville, and will continue to do so. (More on this in another post.)
9. Joshua Creek Heritage Trail and other walking trails provide beautiful forests at your doorstep for jogging or dog-walking.
10. Extensive custom rebuilding and renovating of older homes make this area even more desirable, and creates elegant and attractive streetscapes.
Looking to buy or sell in South East Oakville? Give Hilary a call today!
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First Time Buyers: Want to Withdraw RRSP Funds to Buy a House?
February 6th, 2008 Categories: First Time Buyers, Halton Real Estate, Mortgages, Economics, Finance, Oakville Real Estate News
Question: 
“Can I use my RRSP’s to buy a house?”
First Time Buyers often ask if they can use some of their RRSP money in the home purchase.
First let me say, now is a a wonderful time for first time buyers to purchase their first home.
Some recent posts on The Buzz discuss various factors iimpacting this decision including new Land Transfer Tax Rebate for first time buyers, an environment of declining interest rates, and a more balanced real estate market in the GTA/Halton area, versus the seller’s market of the last 7 years, all of which bode well for FTB in Ontario.
(See also a recent post on solid economic fundamentals in Canada, despite challenges in the U.S.)
The question of RRSP money being applied to home purchase has been asked me enough times to warrant mention here.
There are two categories of people who are eligible to withdraw RRSP funds (without tax penalty) for home purchase:
1) First Time Buyers
2) People with disabilities or relatives of people with disabilities who are helping them purchase
Some Pointers for RRSP withdrawal:
1) Must be a resident of Canada
2) Must occupy the home as principle residence
3) Have up to 30 days after closing to withdraw funds from your RRSP
2) Don’t need to use all the funds towards the down payment (money can be used for closing costs, home renos etc)
3) Allowed a maximum withdrawal of $20,000 per qualified home buyer
4) Have 15 years to repay RRSP, without tax implication
5) Revenue Canada helps keep accounting straight by providing a statement on the annual Notice of Assessment outlining repayment requirements.
More details on this can be found here on the Revenue Canada website.
IF YOU ARE A FIRST TIME BUYER, CONTACT HILARY 905–599–3311 FOR STEP-BY- STEP GUIDANCE, from financing, to market conditions to moving advice!
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Attention Builders and Homesellers: What’s Hot and What’s Not for Homebuyers
January 24th, 2008 Categories: Green Trends, Halton Real Estate, Oakville Real Estate News, Real Estate News
Builders and homesellers, make sure you are hitting the sweet spot with buyers!
Here are latest home trends for 2008 revealed in annual survey by Mark Nash, real estate author, (Nash surveys 886 real estate agents in U.S. and Canada).
What’s Hot in 2008
Destination Bathrooms The master bath has evolved into “the home getaway with multiple task areas, featuring freestanding or “throne” bathtubs in the center of a soaking room, multiple flat screens TVs and wireless Internet so you don’t miss anything as you move from bathing to grooming to lounging. If the bathroom is outfitted for serving bars, wine coolers, espresso machines and grazing snacks, all the better. (Definitely seeing this trend in Oakville luxury homes)
Pet Showers The kitchen or work sink is out for the dog bath. Dedicated dog showers are an emerging trend. Be it in a mud or utility room, garage corner or basement, dog lovers want a place to clean their pooches after a visit to the neighborhood dog park. Common dog showers feature a 3′ x 3′ shower base, surrounded by ceramic tile 4 feet up the wall. Pet showers are all about convenience: Fido can step in, eliminating the master’s need to lift. (Seeing these in many $1 million+ homes in South East Oakville)
Monitoring and Controlling with Hand-held Devices. Forgot to turn off the coffee maker, close or open the blinds, turn the heat down or the air conditioning up? The latest technology lets hand-held devices open or close the blinds, turn lights on or off, or let Fido out the electronic pet door. The home owner can be around the corner or across the country and still determine what’s going on at home.
Home Elevators Catering to the aging baby boomer population, home elevators are another trend. You don’t have to move or downsize when you get older. Simply have a mini-elevator installed and you’re all set for the future. No more unsightly and very 1970s chair-on-the-rail-system for these financially flush, forward-thinking home buyers.
Outdoor Living Spaces Nash says outdoor living spaces that look interior are a very hot item for 2008. These spaces are decked out with massive fireplaces, flooring, walkways, custom kitchens and even artwork, fabrics and finishes that will hold up against Mother Nature.
New Home Energy Options The environment is a big part of the home scene. Eco-friendly homeowners are also looking for new home energy options. More and more builders will be employing out of the ordinary energy sources, such as solar panels and windmills. Using materials and systems that help protect the environment are not just a fad, notes Nash. “Home buyers are asking about how their potential new home can save the planet,” he says. “It’s more than a trend, it’s a convenient truth.”
Off-grid homes. Solar panels, windmills and inverters are here to stay in a big way. With brown-outs and power line-damaging storms on the increase, buyers in 2008 will look for hybrid home-energy options. Even being partially off-grid beats getting expensive power from coal-fired utilities to these eco-energy users.
Floating homes. If your ‘hood has calm, protected waters, you’ll soon have floating homes that look like conventional, soil-situated structures. From Louisiana to Vancouver, floating homes are being chosen as primary home. Plus, watching sunsets are a more enjoyable and greener alternative to lawn mowing.
Concealed appliances Buyers bypass matching cabinet panels that are used to disguise the ubiquitous refrigerator and dishwasher. Hinged and pocket doors are the latest way to integrate visually those boxy necessities and make the kitchen more non-traditional and less functional-looking.
What’s Not
Formal Living Rooms The living room belongs to a bygone era. The great room has officially replaced the traditional living room. Homeowners are favouring more of an informal open space that combines the eating, cooking and living space in one. Nash refers to the living room as the “forced museum”. (In viewing homes with buyers, we often see the living room being used as work-out space, pool room, home office, craft or hobby place.
Soaring cathedral ceilings are now being seen as wasteful. Buyers prefer ceilings between nine and 11 feet in height. If you can’t add a loft in a soaring room, “downsize me” height-wise, buyers say.
Bigger Is Not Better Goodbye to what Nash calls the “McMansions”. Huge homes that boast massive square footage are out. In 2008, homeowners are looking for quality, not quantity. Nash says size doesn’t matter as much as quality finishes. (On that note, we are seeing custom rebuilds in Oakville sit on the market if finishings, fixtures, workmanship are not of a high standard.)
Mosaic Tile and Retro-70’s Look Mosaic tile is on its way out. Intricate, detailed tile is very costly and time-intensive to remove and it really reflects the previous owner’s taste. In general the retro-70s chic look is becoming a thing of the past.
Need help getting your home ready for sale? Click here to Contact Hilary and her home-selling team today!
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