Durham Region Real Estate Blog

Coldwell Banker has completed a survey which received great exposure recently.  In the survey, houses were compared in several cities throughout the nation.  The annual Coldwell Banker HPCI provides an apples-to-apples comparison of similar 2,200-square-foot, four-bedroom, two-and-a-half bath homes in the United States, Puerto Rico, Canada and a sampling of countries/territories outside of North America where Coldwell Banker Real Estate has a presence.

Canada’s brief market downturn is over, with record prices now seen throughout the resurgent market. Vancouver, BC leads the hot-again west coast at $1.17 million U.S. dollars for the studied home, nearly double that of nearby Burnaby BC at $611,243. Boomtown Fort McMurray at $593,340 surpasses Calgary as Alberta’s most expensive market. Canada’s largest city, Toronto, Ontario comes in at $766,643, while Charlottetown PEI remains the country’s most affordable market, priced at $147,560 U.S. dollars.

The most expensive and most affordable markets (in U.S. dollars(2)) within selected provinces/territories in Canada are:

2009 Avg. 2009 Avg. Province/ Most Sales Most Sales Territory Expensive Price Affordable Price Variance --------------------------------------------------------------------------- ALBERTA Fort McMurray $593,340 Edmonton $401,993 $191,347 BRITISH COLUMBIA Vancouver $1,174,241 Burnaby $611,243 $562,998 MANITOBA -- *Winnipeg $363,042 -- NEW BRUNSWICK -- *Moncton $256,843 -- NEWFOUNDLAND -- *St. John's $324,338 -- NOVA SCOTIA -- *Halifax $257,891 -- ONTARIO Toronto $766,643 Brantford $222,968 $543,675 PRINCE EDWARD ISLAND -- *Charlottetown $147,560 -- QUEBEC -- *Montreal $436,403 -- SASKATCHEWAN -- *Saskatoon $355,237 -- YUKON -- *Whitehorse $341,775 --

* Only one market included in the study.

If you’d like to see more of this survey go to Coldwell Banker.

My calendar shows that it is Sept 22 today and that means the start of fall will officially be upon us as of 5:18p.m.  Are you ready? Even though it feels like 30 degrees Celsius today, I know colder temperatures are coming.  So how do you heat your home?

More than one million Canadian families heat their homes, at least partly, with wood.  For these households, wood is an important energy source, one that involves their active participation.  Having control over the fuel supply offers security from electrical power interruptions and shelter from rising conventional energy costs. 

Are you doing it right? Make sure the wood heating system is installed exactly to safety codes, prepare good quality firewood and operate the system using techniques that will produce the best efficiency and effectiveness. 

Get firewood that is the right size for the appliance firebox and that is property seasoned. Use hardwoods like oak and maple for very cold winter weather, softer woods like birch and poplar for milder spring and fall weather. Store your wood stacked off the ground on rails, in an open area exposed to sun and wind, but cover the tops of the stacks to prevent rain from soaking down through. 

A kindling fire that collapses into a smouldering mess is frustrating. These fires should quickly heat up the chimney to create strong draft and heat the brick and steel of the firebox to create a good environment for stable combustion.  Try using the Two Parallel Logs or the Top-down Fire techniques.

The key to maintaining efficient wood fires is to prevent the wood from smouldering because any smoke that passes out of the firebox will condense as creosote in the chimney or be emitted outdoors as air pollution.  Smoke is not a normal, unavoidable by-product, but is waste, resulting from poor combustion.  There will be no visible smoke from your chimney if the wood burns with bright, active flames. 

Want more tips on wood heat? Call or email me today. Let’s burn safely so we can all enjoy a warm, cozy winter in our homes!

Sometimes I think people are just too negative. Renting when they should be owning.  There are several great mortgage brokers out there who would love to see if you could qualify to purchase your own home.  How often do we just assume the worst or think it’s too embarrassing to ask?  It is my opinion that you should ask whenever you are not sure of your situation.  Those of us in the real estate business just deal in the facts.  We just want to know if you can or cannot afford to purchase a home.   If you do qualify, I’m happy to find the perfect $100,000 or $1,000,000 home for you.  Finding a great house, within a comfortable price range for my buyers is the part of the business that I like the best.   And the mortgage brokers that I know and recommend, feel the same way.  Usually  they can let you know within 10 minutes, whether or not they can help you get a mortgage.  If they can help, their next step will be finding the best rates and terms for you.  If the answer is no, you will get some free, fantastic advice how to get a Yes! answer the next time you ask.  What if the hole you’ve dug for yourself really isn’t as deep as you thought it would be.  Finances are often very misunderstood.  We all think the rich have it so easy, but actually having a secure future is something reserved for those who are best at living within their means, spending and saving wisely.

If you think you can’t afford to buy a house but haven’t checked with a good mortgage broker, send me a quick note and I’ll get you contact information for a couple of great brokers who will have your best interest at heart.

The Durham Region Association of Realtors® (DRAR) reported 875 sales in August 2009, down 15% from July, 2009′s 1033, but up 15% from the 746 recorded in August, 2008.

Average selling prices were down 2.2% ($278,400) in August, from July’s $285,247, but up 2.8% from the reported $270,802 reported in August, 2008.

Home sales are stronger then expected.  The drop in sales from July to August is consistent with market history.  Housing sales usually drop in August as most clients go on vacation or are busy getting children ready for a new school year.

Total active listings are down 34.6% (1865) from August, 2008′s 2849.  There is now a demand for resale homes in various price ranges within the Durham Region. The demand is keeping average selling prices up from the same time last year.

When it comes to deciding which home to purchase, women make up their minds quicker than men, according to a survey by Coldwell Banker Real Estate.  Knowing whether or not a home is “right” for you is decided by 70% of women the day they walked into the house, versus 62% of men.  Men also needed two or more visits (32% of men versus 23% of women).

Does this really surprise anyone?  Most women decide on a house by the way it makes them feel and that is something we know instantly.  Men though, are generally more driven by their head. Can we afford the house, what is the structure like?  Will my family be safe here?  These things need to be investigated and therefore take up time. 

Men and women think differently.  Women would rather live closer to their extended family then to their work (55%) where men would rather be closer to work (63%).   But you can use your differences to find a great place to live!  Things you wouldn’t have thought of will be brought to light by your significant other, and in the end you may find a home that you love based on things you didn’t even think were important! 

Before you buy a home, sit down and recognize each other’s differences and work together, from deciding on a neighbourhood to how to use a spare room.

I wonder how much Coldwell Banker paid for this survey.  Perhaps they should have just paid me for my opinion!

This is a great house in Courtice.  Located in a quiet enclave of homes, near a park is this lovely, three bedroom townhome.  It has an open concept, main floor plan, with the kitchen overlooking the breakfast nook and living room.  There is a breakfast bar for convenience and it also offers plenty of counter top space!  The sliding glass doors off the breakfast nook open to the fully fenced, rear yard.  The main floor also features a two piece bath and direct entry to the attached garage. 

Upstairs is well laid out.  The master bedroom is quite large, with wall to wall closets for plenty of storage.  And the walk in closet in the second bedroom with not disappoint anyone who calls that room for their own.  The third bedroom is also spacious and has a double door closet. 

All the flooring in this house, with the exception of the flooring in the main bath, has been updated in 2008 and 2009.  The home has been freshly painted throughout, has air conditioning and gas heat.  The driveway is long enough to park 2 vehicles in it. 

If you’d like to have a look at this home, just give me a call or send me a message and I’ll set up an appointment to show it to you. 

15 Pidduck Street

These are tough times for many people, and every day someone is looking at a nasty letter from their bank, or the bank’s lawyer. How did things get to this point and could you have avoided them?

At some point in our lives most of us find ourselves a little behind the eight ball when it comes to our finances.  We thought we had more money than we actually did have and the next thing we knew, the collector was calling. Are you getting behind on your house payments?  You might feel embarassed, knowing that you were unable to manage your own finances, but don’t let that stop you from seeking out some help.  You need to take action to work out the best deal for you.

Once you have missed one mortgage payment, you start the ball rolling toward foreclosure, so instead of just missing the payment, contact your mortgagee and ask them if it would be o.k. for you to skip one payment.  This may be just enough of a break to get you back on track.  Find out how much equity is in your home.  Should you refinance with details that better match your current situation?  Maybe a sale of the house is the best option for you.

Call a trusted real estate agent to receive a current market assessment.  An agent can let you know if you will be able to walk away with a little cash in your pocket when you sell your house and pay off the mortgage.  If your home is worth $200,000 and you only owe $140,000, it is in your best interest to do whatever you can to keep the mortgagee happy.  You don’t want to lose the $60,000 equity in your home.  Usually you have a few options and you need to make yourself aware of them.

Some mortgagees will not start official proceedings to foreclose your home until you are three months behind, but you don’t want to let things get that far.  If you do, you will have to come up with a lump sum payment that includes the missed payments, the upcoming payment, the lawyer fees ($2,000 or more!) and proof that you still have home insurance and property taxes paid in full.  That can quickly add up to $6,000 or more!

I just want you to know that it is never a good idea to bury your head in the sand. Stand up, acknowledge your mistakes and move forward! ……and ask me any questions you like. I don’t know you anyway so it doesn’t matter if I know how deep a hole you have dug for yourself!