Advice tips and ideas for home owners

2020 Outlook: Real Estate Market Forecast

 Tuesday, January 7, 2020     Marion Goard     House and Home Real Estate Market Buying and Selling

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After a bit of a slump, the future's looking bright again for Canadian real estate. Economists expect positive growth in the national housing market in 2020, supported by low mortgage rates, a solid job market, and a rising population.

In fact, in a recent report, RBC Economics called 2019 a “turning point for Canada’s housing market.” To understand why—and where the market is headed—we take a closer look at some of the key indicators and summarize expert predictions for the coming year.  

More importantly, we explain what impact these changes will have on buyers, sellers, and homeowners in 2020 and beyond.

SALES VOLUME WILL RISE

After peaking in 2016, Canadian home sales volume fell in 2017 and 2018. Fortunately, we saw a turnaround last year as sales began to recover, and economists expect the trend to continue. In a recent “Housing Market Outlook” report, the Canada Mortgage and Housing Corporation (CMHC) predicts “home sales will increase in 2020 and 2021, offsetting the declines observed since 2016 by the end of the forecast horizon.” 

The Canadian Real Estate Association expects to see a modest rate of growth this year. “Sales are forecast to continue to improve through 2020, albeit slowly. National home sales are forecast to rise by 7.5% to 518,100 units next year, with most of this increase reflecting a weak start to 2019 rather than a significant change in sales trends out to the end of next year.”

What triggered this rebound in market activity? According to Rishi Sondhi of TD Economics,“The beneficial combination of solid job markets, rising household incomes, healthy population growth, further distance from restrictive government policies and low mortgage rates have given a boost to demand.” 

RBC Economics believes the main impediment to growth will be a lack of supply to meet the reinvigorated demand. “In fact, low inventories in many local markets appear to be holding buyers back who are faced with fewer and fewer options,” noted RBC in its November housing report.

What does it mean for you? The market is heating up as buyer demand grows. If you’re planning to purchase a home this year, be prepared to compete for the best listings. And if you’re a seller who has been waiting for the market to pick up, now may be a good time to act.

HOME PRICES WILL INCREASE

Home prices declined in many markets as sales volume fell. This year, however, sales are set to outpace the supply of new listings. That’s causing prices to increase as buyers compete for fewer available homes. “The rise in the sales-to-new listing ratio suggests that house price inflation will surge,” writes Stephen Brown of Capital Economics.

Nationally, the CMHC expects the average sales price to exceed its peak 2017 level by the end of 2021, led by growth in Ontario, Quebec, and British Columbia. “Other regions will generally see modest gains over the forecast horizon,” predicts the agency in its Fall 2019 Housing Market Outlook.

Rishi Sondhi of TD Economics predicts that affordability challenges will temper price growth in the country’s most expensive markets.4 However, low mortgage rates, rising incomes, and government interventions—like the First Time Home Buyer Incentive program launched in September—could help eager buyers stretch their budgets.

What does it mean for you? If you have the ability and desire to buy a home, act soon before prices go up. Economists expect both home values and rental costs to rise this year, so you’re likely to pay more the longer you wait.

HOUSING STARTS WILL STABILIZE 

In 2017, Canadian housing starts reached a 10-year high. But as the real estate market slowed, builders pulled back. The CMHC expects both single-family and multi-unit construction activity to stabilize this year and to rebound by the end of 2021 to levels consistent with historical averages, although well below the 2017 peak.

Economists at the CMHC speculate that “the support to new residential construction from the expected improvement in economic activity and incomes will be offset by the projected slowing in household formation over the forecast horizon.”

According to PWC’s latest “Emerging Trends in Real Estate” report, condominiums continue to dominate new construction in Canada. Their relative affordability has made them a favourite of both first-time buyers and investors looking to fulfill a growing demand for rental units. However, a narrowing price gap between condos and detached housing could shift builder momentum towards single-family homes.

What does it mean for you? If you’ve had trouble finding a suitable home in the past, new construction may become an increasingly available option. I can help you assess both current and upcoming developments in our area.

I'M HERE TO GUIDE YOU

While national real estate numbers can provide a “big picture” outlook, real estate is local. As local market experts, we can guide you through the ins and outs of our market and the issues most likely to impact sales and home values in your particular neighbourhood.  

START PREPARING TODAY


If you plan to BUY this year:

  1. Get pre-approved for a mortgage. If you plan to finance part of your home purchase, getting pre-approved for a mortgage will give you a jump-start on the paperwork. It's essential to have a pre-approval in place when you submit an offer to purchase.  In a competitive market, going in without a pre-approval is a sure way to loose out on your offer.  Another benefit: you will find out how much you can afford to borrow, You can budget and shop accordingly.
  2. Create your wish list. How many bedrooms and bathrooms do you need? How far are you willing to commute to work? What’s most important to you in a home? We can set up a customized search that meets your criteria to help you find the perfect home for you.
  3. Come to our office. The buying process can be tricky. I’d love to guide you through it. I can help you find a home that fits your needs and budget, all at no cost to you. Give me a call to schedule an appointment today!

 

If you plan to SELL this year:

  1. Call me for a FREE Comparative Market Analysis. A CMA not only gives you the current market value of your home, it will also show how your home compares to others in the area. This will help us determine which repairs and upgrades may be required to get top dollar for your property, and it will help us price your home correctly once you’re ready to list.
  2. Prep your home for the market. Most buyers want a home they can move into right away, without having to make extensive repairs and upgrades. I can help you determine which ones are worth the time and expense to deliver maximum results.
  3. Start decluttering. Help your buyers see themselves in your home by packing up personal items and things you don’t use regularly and storing them in an attic or storage locker. This will make your home appear larger, make it easier to stage ... and get you one step closer to moving when the time comes!

If you’re considering buying or selling a home in 2020, contact me now to schedule a free consultation. We’ll work together to develop an action plan to meet your real estate goals this year.


Gifts and Gadgets for Every Room in the House

 Sunday, December 1, 2019     Marion Goard     House and Home

For those searching for new and innovative gift ideas this holiday season you'll want to check out the list of this years hottest home technology offerings. I’ve selected a few favourites for every room in the house. Heads up though - included are items that likely are above the price most would pay for a 'gift' however these smart systems and devices add comfort, convenience, and a “cool factor” that will definitely delight.  

Who you know who would love one of the latest gadgets … or perhaps add one to your own wish list! 

ENTRYWAY

Ensure the safety of your loved ones with these smart security upgrades.

Smart Lighting

Ring, a company best known for its video doorbells, has added smart lights to its series of integrated devices. The Ring Smart Light System includes motion sensors, pathlights, spotlights, and even step lights, which can be turned on and off using voice commands when paired with an Amazon Alexa device. Users may opt to receive a notification when motion is detected on the premises, and—if integrated with Ring security cameras—access a live video stream for an added layer of security. Systems start at $99.99.

Smart Lock

Smart locks are a great way to ensure your friends and family are never left out in the cold, and the August Smart Lock Pro+ Connect is among the most highly rated. It’s one of the easiest models to install because it pairs with an existing deadbolt. The Smart Lock Pro enables a user to lock and unlock their door remotely with an app on their phone. And with the auto-lock/unlock feature, it can be set to open automatically upon approach and relock after entry. Retails for $228.99.

Video Doorbell

Video doorbells have become an increasingly popular security enhancement for homes, and for a good reason. Homeowners can detect activity at their front door while away, view visitors via video stream, and communicate without opening the door. Since Ring released its first smart doorbell in 2013, a number of competitors have entered the market. The Nest Hello Video Doorbell has some unique features—like facial recognition, package detection, and pre-recorded quick responses—that place it near the top of the pack. Retails for $299.

LIVING ROOM

These fun and functional gifts are perfect for anyone who is big on style—but short on time.

Automated Planter

Caring for household plants is easier than ever with the latest advancements in technology. Perfect for frequent travellers or forgetful friends, the Dewplanter uses moisture in the air to water plants without manual intervention. Now nature lovers can enjoy the beauty and health benefits of houseplants without the hassle. Plus, for each unit sold, the company pledges to plant a tree somewhere it’s needed. Retails for US$69.50.

Smart Art

Instead of buying your favourite art lover a single painting, why not give him or her 30,000? With the Meural Canvas, you can access an extensive collection of artwork from around the world to display digitally in your own home. Meural utilizes proprietary technology to deliver an anti-glare matte display that automatically adjusts to the lighting in the room. Personal artwork and photographs can be showcased, as well. Retails for $799. 

Motorized Shades

Motorized window coverings aren’t new, but a lower price point and enhanced features have helped to boost their popularity. The latest Motorized Shades from Somfy can be pre-programmed to raise or lower at certain times of day or controlled on-demand via a remote, smartphone app, or voice command when paired with Amazon Alexa or Google Home. They can also be set to operate automatically in response to the amount of sunlight or temperature of the room. Contact a dealer for pricing.

KITCHEN

These kitchen gadgets make life a little easier and a lot more enjoyable. They’re perfect for your busiest friends and family members!

Pressure Cooker

Have you jumped on the multi-cooker bandwagon yet? If so, you know how fast and simple these multifunctional appliances make meal preparation. The InstantPot Duo is a pressure cooker, sauté pan, steamer, slow cooker, rice cooker, food warmer, and yogurt maker all-in-one. It reduces cooking time and lowers energy consumption. Who wouldn’t love one of these versatile tools? With numerous cookbooks and blogs devoted to InstantPot recipes, the meal options are virtually endless. Retails for $129.99.

Cocktail Machine

Cocktail connoisseurs will appreciate the ease and convenience of the Bartesian Premium Cocktail Machine. Listed among “Oprah’s Favorite Things” for 2019, the Bartesian mixes drinks with the touch of a button. Simply fill the canisters with base spirits, choose a cocktail capsule, and the machine does the rest. Now you can mix a margarita, whiskey sour, cosmopolitan, and other favourites as easily as you brew a cup of coffee. Retails for $470. 

Smart Refrigerator

Kitchens are often called the “heart of the home,” and a new refrigerator from Samsung aims to be the hub. The Samsung Family Hub Refrigerator helps busy families stay organized. Grocery shopping becomes a breeze with built-in cameras that allow owners to peek inside their fridge from anywhere. The interactive touchscreen displays pictures, notes, and reminders for family members. And the integrated SmartThings app enables users to control smart devices and appliances from a central point. Retails for $2,999 and up.

BEDROOM

Almost nothing beats a good night’s sleep. Help your loved ones wake up refreshed with these smart devices for the bedroom.

Baby Sleep Soother

As any parent knows, when your baby isn’t getting sleep, neither are you. Help everyone in the family catch some z’s with a Bubzi Co Soothing Owl. This cuddly creature plays lullabies while projecting a starry scene on the bedroom wall to calm young children and help them drift off to sleep. And for every purchase, Bubzi Co makes a donation to Postpartum Support International. Retails for $42.95.

Sunrise Alarm Clock

Know someone who hates getting up in the morning? Alarm clocks that utilize light instead of a noisy alarm can provide a more peaceful transition in and out of sleep. The Philips SmartSleep Connected Sleep and Wake-Up Light includes customizable sunrise and sunset simulation, guided breathing exercises, and sensors that track room conditions, like temperature, humidity, noise, and light. Retails for $219.99.

Smart Thermostat

Temperature fluctuations during the night can disrupt sleep. The Nest Learning Thermostat uses smart technology to track a user’s preferences and build a schedule around them. Homeowners can place one of its integrated sensors in their bedroom to maintain a consistent temperature throughout the night. And Nest thermostats cut energy consumption, so they’ll rest easier knowing they’re saving the planet and money on utility bills. Retails for $329.

BATHROOM

Bathrooms don’t have to be boring. Technology can add flair to the daily routine.

Waterproof Speaker

Music enthusiasts and podcast fans will enjoy streaming their favourites in the shower with a wireless waterproof speaker. The Ultimate Ears Wonderboom 2 is a mid-priced and versatile option that can go from the bath to the beach. It packs an impressive 13-hour battery life in a small, portable case that’s waterproof, dust-proof, and floatable. Retails for $99.99. 

Digital Smart Scale

A scale isn’t an appropriate gift for everyone, but health and fitness enthusiasts may appreciate the high-tech features available with the Withings Body+. It tracks weight, body water, and fat, muscle, and bone mass for up to eight users. It can also be set to display local weather and the previous day’s step count. Customized pregnancy and baby modes make this a suitable choice for a growing family, as well. Retails for $129.95.

Vanity TV Mirror

For a truly luxe bathroom addition, consider an integrated vanity television mirror. The Seura TV Mirror seamlessly incorporates video into a bathroom vanity. It’s vanishing glass technology makes it possible to view the television through a mirror. When turned off, the screen completely disappears. Add lighting or a custom frame to complete the look. Starts at US$3,099 for a 19” display.

MY GIFT TO YOU

Are you considering a permanent technology upgrade for your own home? Give me a call first! Buyer expectations and preferences vary depending on price point, architectural style, and neighbourhood. I can help you determine how the enhancement will impact the value of your home before you make the investment.


New Exclusive Listing - SOLD in 1 day!

 Saturday, November 2, 2019     Marion Goard     House and Home Real Estate Market Buying and Selling Just Listed

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Sold in 1 day! Rarely offered end unit bungalow freehold townhouse.  Bright, spacious and impeccably maintained by the original owners.   

Numerous updates include shingles, floors, furnace and air conditioner, kitchen and bathroom counters, gas stove and dryer. 

Located in a very quiet area in Grimsby close to many amenities. 

Price:            $559,000

Bedrooms:     2

Bathrooms:    1.5

Square Feet:  1198 +/- above grade

Garage:         Single

Basement:     Partially finished with family room and den/office. Potential for additional room plus tons of storage space.

Taxes - TF (2019)

Lot:  33.60' x 98.10' 

Don’t miss out. Make this one yours! 

Contact Marion today to arrange your private showing before the property is listed on the Multiple Listing Service!


Spectacular Ravine Lot

 Monday, September 23, 2019     Marion Goard     House and Home Real Estate Market Buying and Selling Just Listed

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Welcome to 298 Gardenview Dr.! An opportunity such as this doesn't come around very often. They're just not making any more land!

Located in a very quiet area in Burlington's Aldershot neighbourhood this large ravine lot backs onto the Hidden Valley Multi Use Trail and Hidden Valley Park.  It's a nature lovers dream! Quiet and peaceful are the most appropriate words to describe the setting.

Located on the property is a 1250+/- sq.ft. bungalow with walk-out lower level. The home is being sold in ‘as is’ condition. Seller provides no warranties.

Don’t miss out. Make this one yours! 

Click here to view the listing details.

Quick view video - https://player.vimeo.com/video/362351213  

Contact Marion today to arrange your private showing!

New Price:     $829,000

# Rooms (above grade):      6

Bedrooms:     3 +1

Bathrooms:    2.5

Square Feet (living space):  2500 +/-

Garage:         Single

Basement:     Finished with walk out

Taxes - $4,021 (2019)

Lot:  70.00 x 185.75 (irregular)


Lovely family home in sought after south east Burlington!

 Tuesday, September 17, 2019     Marion Goard     House and Home Real Estate Market Buying and Selling Just Listed

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SOLD! - Exclusive - detached 3+1 bedroom home in south-east Burlington.  

More pictures to follow soon!

Welcome to 4317 Longmoor Dr.! This lovely 4 level back split, with approximately 2500 square feet of living space, is located in one of Burlington's prime South East neighbourhoods and offers plenty of room for a growing family.

Upon entering the foyer you’ll immediately find the home has a more open feel than might have been expected. The main level features a spacious living/dining room combination and bright eat-in kitchen, plus access to the backyard and garage. Upstairs you’ll find three good sized bedrooms and a generously sized 4-piece bathroom.  

The lower level, which is partially above grade, includes a family room with fireplace, additional bedroom and 2-piece bathroom. A large recreation room, finished laundry area, utility and storage rooms are a few more steps down on the basement level.  

Enjoy the outdoors or entertain family and friends on the large deck in the private, mature backyard. Your garden tools and equipment can easily be stored in the shed at the rear of the yard. With the paved double driveway and single car garage there’s enough space to park up to 5 cars.  

Walk to schools, parks, community centre, shopping and public transit. There's also easy access to major highways and Lake Ontario.  Don’t miss out. Make this one yours! 

Contact Marion today to arrange your private showing!

Price:            $784,9000

# Rooms (above grade):      6

Bedrooms:     3 +1

Bathrooms:    1.5

Square Feet (living space):  2500 +/-

Garage:         Single

Basement:     Fully finished

Taxes - $3,778 (2019)

Lot:  46.04 x 110.43