That’s the lowest price rise this year. From February through July, CREA’s monthly reports showed housing prices rising more than eight per cent over 2010.

The hottest provincial market in November was Newfoundland and Labrador, where prices were up 12 per cent from the same month in 2010. At the back of the pack was Prince Edward Island, where the average resale home price dropped 11.1 per cent.

At the municipal level, prices jumped more than 10 per cent year-over-year in the Ontario communities of Thunder Bay, Hamilton/Burlington and St. Catharines, in Quebec’s Saguenay region and in Gatineau, across the river from Ottawa.

“While certainly not gangbuster numbers, these are respectable turnouts given the volatile economic backdrop that has characterized the global economy this year,” Francis Fong of TD Economics said in a note.

Fong said that when the final numbers come in for all of 2011, he expects housing prices will show a seven to eight per cent rise for the year. Next year, though, he’s forecasting a one to two per cent drop amid a deceleration in income and job growth.

A recent report in the Economist magazine suggests Canadian homes are 29 per cent overvalued, rising at one of the fastest paces among the 20 countries surveyed. Since 2007, prices are up 22 per cent, it determined.

Vancouver is most expensive by far

Once again, the country’s most expensive homes by far were in Vancouver, where the average non-seasonally-adjusted sale price in November was more than $728,000. That beat Victoria at $499,676, B.C.’s Fraser Valley at $478,968 and Toronto at $480,421. The cheapest homes were in Trois-Rivières, Que., at $147,046.

Sales volumes nationally were up five per cent over last year, while the number of new listings increased 2.7 per cent. Compared with the month before, however, November saw a slowdown in new listings by a seasonally adjusted 3.4 per cent.

CREA’s figures are based on properties sold through the Multiple Listing Service.

A panel of experts from the Ontario Real Estate Association (OREA) board of directors advises against making hasty or uninformed choices by avoiding five common errors:

1. Not knowing what you can afford
Barbara Sukkau, president of OREA and a Realtor based in St. Catharines, says that mistakes made in a competitive environment can be costly and restrict lifestyle choices.

“Many people don’t know that there’s an easy way to calculate how much house they can afford to determine, regardless of competing bids, what lifestyle they want to maintain within the market,” says Sukkau. “In addition to the cost of the home, potential buyers should consider the land transfer tax, closing costs, moving costs and leave room for any unforeseen extras.”

In fact, Realtors often use a calculation called the Gross Debt Service Ratio. Sukkau explains how to calculate what you can afford at http://bit.ly/OREAaffordabilty.

2. Not preparing your finances, or getting pre-approved 
“Many sellers will require a potential buyer to get pre-approved. When there are competing bids on the house of your dreams, pre-approval could give you the edge,” says Patricia Verge, OREA board member working out of Ottawa.

“Pre-approval can take up to a few days after you provide your bank with things like verification of income and down payment,” Verge adds.

If a buyer meets the lender’s requirements, then written confirmation of pre-approval will be provided. According to the Canada Mortgage and Housing Corporation, this pre-approval is time sensitive and is not a guarantee of receiving a mortgage loan.

Verge also cautions buyers against using their pre-approval as a final budget. “Potential buyers should balance their debt load and other financial commitments with what the bank is willing to lend,” she says.

3. Not knowing your must-haves
Tom Lebour, OREA board member working out of Mississauga, notes that his clients aren’t always sure about what they’re looking for.

“Clients often fail to consider what amenities are in the neighbourhood they’re looking to buy in, especially when relocating from the city to the suburbs. How ‘walkable‘ is a neighbourhood to places like grocery stores, schools and banks? This feature is important to many homebuyers, but they can fail to think about it in the excitement about the number of bathrooms a house has. Create a list by thinking about a day in your life and the various things important to you and your family.”

4. Not getting a home inspection 
“I always advise buyers to have their own home inspection done, even if the seller offers the results of a previous inspection and even if others are keen to put in an offer,” says Phil Dorner, OREA board member working out of Belle River.

“Ensure that you have a qualified and bonded home inspector perform a full inspection as part of your offer. An investment of a few hundred dollars could save you thousands down the road.”

5. Getting emotions involved in negotiations 
Buyers and sellers will often let their emotions get the best of them, says Mike Douglas, OREA board member from Barrie.

“Emotions can get in the way of negotiations because sellers inadvertently assign real value to their memories, which don’t hold financial value for the buyer. We do our best to help our clients keep their emotions out of the equation,” Douglas says.

For more tips, visit orea.com and order your free books on home buying and selling. Or, check out Barb Sukkau’s video on what a Realtor can do for you.

Highlights:

• Sales activity rose in October, marking the highest level since January.
• Actual (not seasonally adjusted) national sales activity in October stayed in line with the 10-year average for the month, as it has most months this year.
• Year-to-date sales are also even with the 10-year average.
• The number of newly listed homes remained little changed from levels in the previous three months.
• While the combination of stronger sales and stable new listings resulted in a slightly tighter balance of supply and demand, the national housing market remains firmly rooted in balanced territory.
• The national average price posted a 5.5 per cent year-over-year gain in October, the smallest increase since January.

Homes sold through MLS® Systems of real estate Boards and Associations in Canada rose 1.2 per cent in October 2011 from the previous month. While national sales activity levels are still best described as average, the monthly rise in October sales built on the 2.5 per cent gain in September, and lifted activity to the highest level since January.

Just over half of all local markets posted monthly sales increases, led by gains in Montreal, Toronto, and Vancouver.

“There was no shortage of headline news in October about global financial market volatility and economic uncertainty, but it doesn’t appear to have dampened homebuyers’ spirits,” said Gary Morse, CREA’s President. “Interest rates are at low levels and are likely to stay that way for some time to come. Homebuyers clearly see the opportunities that the current interest rate environment presents. That said, all real estate is local, so buyers and sellers should consult their local REALTOR® for an understanding of opportunities in their housing market.”

As has been the case in most months this year, actual (not seasonally adjusted) national home sales in October stayed in line with the 10-year average for the month. Although up 8.5 per cent from levels one year ago, the gain in large part reflects last year’s nascent pick-up in activity following a mid-year lull.

A total of 397,561 homes have traded hands via Canadian MLS® Systems so far this year. This represents an increase of 1.8 per cent from levels in the first 10 months of 2010, but is directly in line with the 10-year average for the year-to-date figure.

The number of newly listed homes remained little changed in October compared with levels recorded in each of the previous three months.

“The prevailing economic outlook for Canada is one of slower but still positive economic growth, with heightened caution about investment and hiring decisions,” said Gregory Klump, CREA’s Chief Economist. “Consumer confidence and the housing sector are being supported by low interest rates and high employment levels, but their prospects depend on how Canada’s economic outlook evolves in response to global economic risks and outcomes in the months ahead.

Home sales activity over the past couple of months suggests buyers are confident that the Canadian economy will remain relatively unscathed by global economic risks, since every home purchase is a homebuyer’s vote of confidence in the future. That confidence is no doubt rooted in the success of coordinated fiscal and monetary policy responses that helped quickly pull Canada out of the last recession, and a stated willingness and ability to carry out further policy actions if need be.”

While the combination of stable new listings and stronger sales made for a slightly tighter balance between supply and demand in October, the national housing market remains firmly rooted in balanced territory. The national sales-to-new listings ratio, a measure of market balance, stood at 53.4 per cent in October, up from 52.8 per cent in September.

Based on a sales-to-new listings ratio from 40 to 60 percent, about 60 per cent of local markets in Canada were in balanced market territory in October. Of the remaining markets, there was a handful more seller’s markets than buyers’ markets.

The number of months of inventory stood at six months at the end of October on a national basis, little changed from the end of September (6.1 months). It has remained stable at about six months since April. The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is another measure of the balance between housing supply and demand.

The actual (not seasonally adjusted) national average price for homes sold in October 2011 stood at $362,899. This is up 5.5 per cent from October 2010, making it the smallest increase since January.

“Everyone wants a house or condo that will be perfect the minute they move in so they only have to do the minimum amount of work to it,” says Barbara Sukkau, president of OREA. “But with the price of houses continuing to rise, and some buyers desperately looking for a family home in a seller’s market, it may not be an option for all buyers. Buying a property that needs work can be a way to save on the overall cost even when you factor in the cost of an extensive renovation,” says Sukkau.

OREA recommends potential homebuyers work with their Realtor to identify properties that will build equity after improvements are made but still remain in budget. Together with their Realtor, homebuyers should research what the top homes in the neighbourhood sell for before buying a fixer-upper.

“It doesn’t make sense to invest $100,000 worth of renovations in a property if the other homes only sell for fifty thousand more than what you bought the house for,” says Sukkau. “Buying a house that needs renovation should grow equity — not become a property that’s too expensive for the neighbourhood when you want to sell.”

Sukkau says there are other benefits to buying a property that needs renovation, such as the fact that HST does not apply to the price of a resale home, unlike newly built homes, which can save a homebuyer thousands of dollars. Also, the federal government currently offers grants up to $5,000 to owners who want to make their home more energy efficient. If an older home needs new windows or a new furnace, then homeowners can apply for the grant for this cost. And finally, renovating a home lets the homebuyer add their own personality to the space and determine what’s most important to them. Newly built homes, while beautiful, can have a cookie-cutter feel and look very similar to the other homes in the neighbourhood.

No matter if a homebuyer decides on a fixer-upper or a property that needs no improvements, according to Sukkau the most important thing is for potential homebuyers to know their budget and stick to it. “Before looking at any home, discuss with your Realtor what your budget is for both the property and any possible renovation. Even though it is difficult, remain emotionally detached when looking at homes, and if a property is beyond your means, then move on to the next one,” says Sukkau.

A video about how to calculate home affordability is available here. More information on buying a property can also be found at howrealtorshelp.ca.

National sales activity rose 2.7 per cent in September when compared to August, and follows three months of stable activity. September’s increase reflects strengthened activity in a number of major markets, led by Toronto. The monthly increase pushed national sales to its highest level since recently tightened mortgage regulations dampened sales earlier this year.

Highlights:

• Sales activity rose 2.7 per cent in September from the previous month.
• Holding in line with the ten-year average, activity during the first nine months of this year pulled ahead of sales over the same period last year.
• The number of newly listed homes held steady when compared to the previous month.
• The national housing market tightened in September from the month before, but remains firmly entrenched in balanced territory.
• The national average price posted the smallest year-over-year increase since January.

TD Bank economist Francis Fong said the housing start numbers suggests the housing market remains “extremely healthy as the three-month moving average increases to its highest level since November 2008.”

“Employment and income growth remains sufficiently healthy and economic fundamentals, though having slowed recently, remain stable.” Fong said in a note to clients.

“In addition, recent financial turmoil emanating from Europe has hit Canadian markets hard and has led to a renewed flight towards the safety of government bonds. This has helped to keep mortgage rates at their record low levels, meaning affordability is still supportive of housing demand.”

In the CMHC report, the agency said starts in urban areas rose by eight per cent to 185,900 units.

Multiple-unit urban starts increased 14.2 per cent to 118,000 units, while urban single starts decreased by 1.5 per cent to 67,900 units.

Quebec was the big winner in the September numbers, with a 14,000 increase in starts to 57,800 — a 13.9 per cent jump and the highest level of starts since February 2008.

“Multiple housing starts are expected to move back towards levels consistent with demographic fundamentals in the near term,” said Mathieu Laberge, CMHC’s deputy chief economist.

Rural starts were estimated at a seasonally adjusted annual rate of 20,000 units in September, up from 18,900 units in August.

“The strength in Canada’s national housing market conceals signs of predictable softening in some regions,” said Phil Soper, president and chief executive of Royal LePage Real Estate Services. “The third quarter saw a return to a normal seasonal business cycle as price appreciation slowed in many areas – with some average values even falling slightly – after the busy spring trading season. A broader slowdown is expected in the months ahead but fears of a US-style correction are completely unfounded.”

In the third quarter of 2011, the national average price of a detached bungalow rose 7.8 per cent year-over-year to $349,974, while standard two-storey homes rose 7.7 per cent to $388,218 and standard condominiums rose 5.7 per cent to$239,300.

“To best provide Canadians with an accurate look at the housing market, Royal LePage uses year-over-year comparisons as the housing market follows a seasonal pattern. It is important to note that our 2011 third quarter results benefit greatly by going head-to-head with what was by far the previous year’s weakest period,” continued Soper.

Sustained demand from foreign buyers helped drive prices up in the country’s largest markets as Vancouver’s standard two-storey homes rose 16.9 per cent year-over-year to $1,142,500 while detached bungalows in Toronto climbed 9.4 per cent to $518,433.

Conversely, while the volume of homes trading hands has increased in Alberta, house prices in the province remained soft with detached bungalows in Calgaryfalling 1.0 per cent in the third quarter. Similarly, detached bungalows and standard two-storey homes in Victoria fell 2.0 and 1.1 per cent respectively.

“Canadian home owners have turned a deaf ear to the negative economic situation shaking housing markets in Europe and the United States,” added Soper. “A resilient domestic economy coupled with the stimulative effect of ultra low interest rates has extended the post-recession bounce in house prices, but there is evidence of over-shooting in some markets. Although some commentators are predicting that the sky will fall on the Canadian housing market in a US-style implosion, we lack the structural conditions that precipitated the housing crash in the United States six years ago.”

Regional Market Summaries

In Atlantic Canada, while other major markets remained relatively flat year-over-year, Halifax posted healthy gains in all three housing types surveyed with standard condominiums increasing 10.4 per cent. Similarly, standard condominiums in Saint John also witnessed an increase of 10.4 per cent. This is attributable to sales of higher-end waterfront listings.

Continued confidence in Montreal‘s residential real estate market remained strong as year-over-year prices for standard two-storey homes rose 4.4 per cent to $367,500 while standard condominiums rose 7.6 per cent to $236,333.

Healthy price appreciation was witnessed in all three housing types surveyed inOttawa, as standard two-storey homes rose on average 8.4 per cent. Standard condominiums and detached bungalows increased 7.9 per cent and 7.0 per cent respectively.

Toronto witnessed impressive price gains across all three housing types surveyed due to a lack of supply. Standard two-storey homes increased 7.6 per cent year-over-year and detached bungalows 9.4 per cent over the same period. Standard condominiums increased a healthy but more modest 6.0 per cent as demand was more easily met with a higher level of inventory.

Population growth is fueling Winnipeg‘s healthy price appreciation as standard condominiums increased 6.4 per cent, detached bungalows increased 5.1 per cent and standard two-storey homes increased 4.4 per cent.

Both Calgary and Edmonton remained relatively flat year-over-year except for standard condominiums, which increased 3.2 per cent and 3.9 per cent respectively. Two storey-homes in Edmonton also posted a gain of 3.8 per cent.

Vancouver‘s traditional housing types performed exceptionally well as detached bungalows rose 17.0 per cent year-over-year and standard two-storey homes rose 16.9 per cent. Condominiums in the city increased a more modest, but healthy, 5.1 per cent due to higher inventory.

Royal LePage’s quarterly House Price Survey shows the annual change of prices for key housing segments in select national markets.

“It’s clear that there is a real need to educate Canadians on the basic components of real estate purchases, as well as the options available in terms of private sales versus selling with a realtor,” said Patrick Sullivan, general manager and vice-president of ComFree. “The do-it-yourself model doesn’t stop with home improvement – it also applies to home sales, it just requires a little knowledge. ComFree is a good example – we offer what homeowners need to sell their home commission-free and save thousands of dollars.”

Barriers to Private Sale

For many home owners, there remain several key roadblocks in the decision making process about whether to sell privately or work with an agent. Respondents listed the following as their top three:

• The visibility of the listing to potential buyers – 57 per cent
• The time commitment involved – 55 per cent
• Concern over making a legal error – 52 per cent

And while time commitment was one of the top deterrents mentioned by Canadians, the survey shows that an almost identical time investment (overall average was 29.7 hours) is required regardless of whether a home is being sold by the owner or with a realtor.

“The legal process is the same with or without a realtor,” said Sullivan. “Either way, it’s important to hire a lawyer who specializes in real estate to review an offer, conduct a title search and finalize the deal.”

The Mystique of the Realtor

The poll showed that nearly half of respondents (48 per cent) incorrectly stated that a realtor is required to list one’s home on the Multiple Listing Service (MLS) and a further 13 per cent indicated that they weren’t sure. In fact, ComFree can obtain a listing, through our brokerage partners, on MLS for any Canadian looking to sell their home privately.

Canadians also overestimate the services that are included in realtor fees. One in five of the respondents polled incorrectly stated that at least one of the following would also be included:

• Home inspection to determine any necessary home repairs (21 per cent)
• Setting up mortgage insurance where necessary (19 per cent)
• Financing & pre-approval of a mortgage (16 per cent)

And while the majority of respondents indicated that they had previously worked with a realtor vs. selling privately (79 per cent and 19 per cent respectively), a greater proportion of home owners said they would be likely to sell privately in the future (28 per cent).

Likelihood to sell privately in the future is significantly higher in Atlantic Canadaand Quebec compared to other provinces:

• Atlantic provinces – 48 per cent
• QC – 39 per cent
• MB/SK – 32 per cent
• AB – 29 per cent
• BC – 22 per cent
• ON – 21 per cent

“Realtors with their high commissions, like TV dinners and eight-tracks, are relics best left in the past,” said Sullivan.  “Today, anyone can sell their home on their own as long as they are willing to invest a few hours of their time and look for the legal and marketing expertise.”

Highlights:

• Sales activity was stable from July to August, but posted another big year-over-year gain reflecting weakened demand last summer.
• Year-to-date sales pulled ahead of 2010 levels for the first time this year, and remain in line with the ten-year average.
• The number of newly listed homes was also little changed from July to August.
• The national housing market stayed firmly entrenched in balanced territory.
• There were more balanced local markets in August than at any other time on record.
• The national average price posted another year-over-year gain in August, but has moderated from elevated levels earlier this year.
• Upward skewing of the national average price is diminishing due to fewer expensive sales and a declining share of national activity in Vancouver andToronto.

For a second consecutive month, national home sales activity held steady in August 2011 when compared to the previous month. Among major urban centres, Toronto and Ottawa posted a monthly increase in activity while Calgary, Montreal and Vancouver saw activity decline slightly.

“The housing market in Canada remained on a firm footing in August when compared to volatile financial markets,” said Gary Morse, CREA President. “Through their actions, homebuyers are showing that they remain confident about the stability of the Canadian housing market, and recognize that the continuation of low interest rates represents an excellent opportunity to buy their first home or trade up.”

Actual (not seasonally adjusted) sales activity came in 15.8 per cent above national levels reported one year earlier. This was the largest year-over-year increase since last April, but largely reflects weakened activity one year ago.

A total of 324,030 homes have traded hands via Canadian MLS® Systems so far this year. While this stands only marginally above levels in the first eight months of last year, it nevertheless marks the first time this year that year-to-date activity has pulled ahead of 2010 levels.

As has been the case for much of this year, the year-to-date sales figure continues to run in line with the ten-year average.

The number of newly listed homes nationally was also little changed from July to August. This kept the national housing market firmly planted in balanced territory. The national sales-to-new listings ratio, a measure of market balance, stood at 51.6 per cent in August, unchanged compared to July.

Based on a sales-to-new listings ratio of between 40 to 60 per cent, 70 per cent of all local markets in Canada were in balanced market territory in August – a greater percentage than at any other time on record. There were just 12 buyers’ markets in August, which was the lowest figure so far this year.

The number of months of inventory stood at 6.2 months at the end of August on a national basis, which is little changed from the end of July (6.1 months). The national months of inventory figure has been stable at about six months since April. The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is another measure of the balance between housing supply and demand.

The actual (not seasonally adjusted) national average price for homes sold in August 2011 stood at $349,916. This is 7.7 per cent above its year-ago level, which marked the low point for 2010.

The national average price has moderated compared to earlier this year, with sales activity in Vancouver, and more recently in Toronto, exerting less of an effect on the national average. Their share of provincial and national sales activity reached unusually elevated levels earlier this year, but has since receded in line with normal seasonal variations.

“Once again, economic and financial market headwinds outside Canada are keeping interest rates lower for longer,” said Gregory Klump, CREA’s Chief Economist. “Those headwinds will likely persist until, and indeed after, fiscal quagmires in the U.S. and Europe are resolved. In the meantime, the Bank ofCanada will have ample reason to delay raising interest rates further, which is supportive for the Canadian housing market.”

Average house prices in Canada continued to rise in the second quarter across housing types surveyed. The national average price of a detached bungalow rose 7.5 per cent year-over-year to $356,625; the price of a standard two-storey home rose 6.1 per cent to $390,163; and the price of a standard condominium rose 3.5 per cent to $238,064.

While prices continued their recent climb, signs of moderation are appearing, and vary from region to region. In the Atlantic provinces, markets that had recently enjoyed unusually high price appreciation such as Halifax and St. John’s are still seeing gains, although smaller than those in recent quarters. In Montreal, additional inventory coming on the market has provided home buyers with more choice and opportunities for negotiation. Home prices in Calgary declined modestly as the market continues to adjust after the Alberta housing boom experienced in the middle of the previous decade. The Vancouver market continues its rally, with the average price of detached bungalows and standard two-storey homes both over $1 million and seeing double digit year-over-year gains, though the average price for a standard condominium saw a very modest increase of 2.5 per cent.

“In many of Canada’s regional markets, we saw house prices appreciate at a significantly faster rate than wages and salaries, and this trend cannot continue indefinitely,” observed Phil Soper, president and chief executive, Royal LePage Real Estate Services. “We expect price gains to moderate considerably in the latter half of 2011, which should reduce the stress associated with purchasing a new home,” Soper said. “Vancouver, and specifically certain neighbourhoods in the lower mainland of British Columbia, remains an anomaly, as investment from outside of the country continues to support higher price levels.”

While price appreciation and housing activity are expected to slow during the second half of 2011, the strong start will support a 2011 national average house price forecast at end of year 7.7 per cent higher than the close of 2010. Sales volume is forecast to decrease marginally by 2.0 per cent over the same period. Year-over-year prices should appreciate modestly in 2011’s third quarter as most Canadian housing markets cooled during the same period in 2010. Similarly, this year’s final quarter should display a flat year-over-year price performance when compared to an unusually strong fourth quarter of 2010.

“While the global economy struggles to find its footing, here in Canada we are seeing indicators of a return to long-term norms,” noted Soper. “There is an expectation of continuing improvement in employment levels across the country and accompanying strength in wages and salaries, which should provide support for the housing market. Looking ahead to 2012, signs are pointing to stability for Canadian home owners and new buyers. We believe we are past the period of peak house price appreciation.”

Regional Market Summaries

The residential real estate in market in Halifax saw healthy year-over-year price gains across all three housing types surveyed. Strong local economy coupled with low interest rates has driven demand in the region. At the end of 2011, average house prices in Halifax are forecast to be 3.3 per cent higher than 2010.

Detached bungalows and two-storey houses in Montreal posted strong year-over-year gains – higher than 7 per cent in the second quarter, while standard condominiums rose modestly by 1.9 per cent. At the end of 2011, average house prices in Montreal are forecast to be 7.0 per cent higher than 2010.

Ottawa’s housing market posted healthy year-over-year price appreciation across all housing types surveyed. An average standard two-storey home rose 5.2 per cent year-over-year to $371,500. Despite modestly rising inventory, at the end of 2011, average house prices in Ottawa are forecast to be 5.0 per cent higher than 2010.

Toronto’s seller’s market witnessed strong year-over-year price appreciation. Price gains ranged from 4.7 per cent to 6.1 for the housing types surveyed. Low inventory coupled with low interest rates continue to drive real estate prices. Lack of inventory was cited as the main reason for reduced market activity.

Confidence in the local economy has brought optimism to the Winnipeg market and is reflected in the real estate market’s performance. Detached bungalows rose 7.5 per cent to $281,125, while condominiums rose 6.6 per cent. At the end of 2011, average house prices in Winnipeg are forecast to be 6.0 per cent higher than 2010.

The largest year-over-year gain was seen in Regina, where standard two-storey homes jumped 15.6 per cent. Detached bungalows also posted a strong 11 per cent gain. Regina’s limited inventory has not been able to keep up with the demand created by the booming local job market. At the end of 2011, average house prices in Regina are forecast to be 12.4 per cent higher than 2010.

Calgary witnessed moderate year-over-year price declines as it continues to adjust from the boom experienced in the middle of the previous decade. Edmonton, posted modest gains for standard two-storey homes and standard condominiums, while detached bungalows posted a moderate year-over-year decrease. At the end of 2011, average house prices in Calgary are forecast to increase 3.8 per cent while Edmonton house prices are expected to decrease moderately by 1.2 per cent compared to 2010.

Vancouver experienced some of Canada’s largest year-over-year price increases with detached bungalows rising 14.1 per cent and standard two-storey homes rising 12.0 per cent. Average prices for standard condominiums stabilized rising 2.5 per cent. At the end of 2011, average house prices in Vancouver are forecast to be 15.4 per cent higher than 2010. Unit sales in Vancouver, during 2011, are expected to be 6.0 per cent higher than 2010 indicating strong market activity.

Royal LePage’s quarterly House Price Survey shows the annual change of prices for key housing segments in select national markets. Click here to view the chart

“Immigration continues to be a factor in supporting rental housing demand. Recent immigrants tend to rent first before becoming homeowners,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “In addition, condominium completions moved lower in the past months, while rental apartment unit completions remained relatively stable. As a result, the overall demand for rental apartment units increased faster than supply for this type of housing. Accordingly, this pushed Canada’s vacancy rate downward. “

The results of CMHC’s spring survey reveal that, in April 2011, the major centres with the lowest vacancy rates were: Winnipeg and Regina (0.7 per cent); Québec (1.0 per cent); Toronto (1.6 per cent); and Kingston (1.7 per cent). At the provincial level, Manitoba has the lowest vacancy rate at 0.7 per cent. All other provinces were above 2.0 per cent.

The survey reveals that the major centres with the highest vacancy rates were: Windsor (9.4 per cent); Kelowna and Abbotsford (6.6 per cent); and Charlottetown (4.9 per cent). On a provincial basis, the highest vacancy rate was in Alberta (4.7 per cent).

The Canadian average two-bedroom rent in new and existing structures was $864 in April 2011, compared to $848 in April 2010. With respect to the CMAs, the highest average monthly rents for two-bedroom apartments in new and existing structures in Canada’s major centres were: Vancouver ($1,181); Toronto ($1,124); Ottawa – Gatineau (Ontario Part $1,056); Calgary ($1,040); Edmonton ($1,029); and Victoria ($1,024). These are the only major centres with average rents at or above $1,000 per month. Provincially, the highest average monthly rents were in Alberta ($1,029), British Columbia ($1,015) and Ontario ($980).

The lowest average monthly rents for two-bedroom apartments in new and existing structures were: Saguenay ($542); Trois-Rivières ($546); and Sherbrooke ($577). On a provincial basis, the lowest monthly rents were:  Québec ($671); New Brunswick ($672); and Newfoundland and Labrador ($683).

Year-over-year comparisons of average rents can be slightly misleading because rents in newly built structures tend to be higher than in existing buildings. Excluding new structures and focussing on structures existing in both the April 2010 and April 2011 surveys provides a better indication of actual rent increases paid by tenants. Overall, the average rent for two-bedroom apartments in existing structures across Canada’s 35 major centres increased 2.2 per cent between April 2010 and April 2011, slightly higher than what was observed between April 2009 and April 2010 (1.8 per cent).

CMHC’s spring Rental Market Survey also found that the rental apartment availability rate in Canada’s 35 major centres was 4.3 per cent in April 2011, down from 5.4 per cent in April 2010. A rental unit is considered available if the unit is vacant (physically unoccupied and ready for immediate rental), or if the existing tenant has given or received notice to move and a new tenant has not signed a lease. Availability rates were highest in Windsor (11.3 per cent), Sherbrooke (8.7 per cent), London (8.3 per cent), Abbotsford (8.1 per cent) and Kelowna (8.0 per cent). The lowest rates were in Winnipeg (1.1 per cent), Regina (1.7 per cent), St. John’s (2.6 per cent) and Québec (2.8 per cent).

As Canada’s national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

Actual (not seasonally adjusted) activity came in 2.7 per cent above levels reported last May. This was the first year-over-year increase in more than a year, reflecting falling sales activity in May 2010. Activity fell sharply last year between April and July, with May marking the mid-point of that slide. Although activity has been more stable this year, last year’s sales volatility is expected to continue to affect year-over-year comparisons in the months ahead.

Highlights:

• Sales activity held steady from April to May, but posted the first year-over-year gain in over a year due to falling demand in May 2010.
• Year-to-date sales are in line with the ten-year average.
• New listings also remained stable from April to May.
• National housing market remains firmly entrenched in balanced territory.
• National average price is still being skewed upward by historically high sales activity in certain Vancouver neighbourhoods.

A total of 196,749 homes have traded hands via Canadian MLS^® Systems so far this year. This is in line with the ten-year average for year-to-date activity in May.

“The Canadian housing market has seen some big ups and downs in recent years, making national sales activity so far this year look like something of a Goldilocks story by comparison – not too hot, not too cold,” said Gary Morse, CREA’s President. “Since local housing market trends often differ from national trends, buyers and sellers should consult their local REALTOR^® to understand how the housing market is shaping up where they live.”

Seasonally adjusted new residential listings were little changed from April to May, edging up one tenth of a percentage point. The number of newly listed homes fell in Vancouver, Fraser Valley and the Okanagan region in May, offsetting small gains in Toronto andMontreal.

With sales and new listings holding steady on a national basis in May, the resale housing market remained firmly planted in balanced territory. The national sales-to-new listings ratio, a measure of market balance, stood at 52.1 per cent in May, little changed from 52.5 per cent in April.

Based on a sales-to-new listings ratio of between 40 and 60 per cent, housing markets were balanced in 62 of 101 real estate boards in Canada. Less than half of the rest can be characterized as sellers’ markets, based on a ratio above 60 per cent. “For the most part, sellers’ markets became slightly more balanced than the previous month,” said Gregory Klump, CREA’s Chief Economist. “Toronto stood out as an exception, with sales activity there growing faster than new supply.”

The seasonally adjusted number of months of inventory stood at 6.1 months at the end of May on a national basis. This is little changed compared to the six months of inventory at the end of April 2011. The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is another measure of the balance between housing supply and demand.

The national average price for homes sold in May 2011 was $376,817, up 8.6 per cent from the same month last year. A number of compositional factors skewed the national average price upward in May. These factors include historically high sales activity in selected priceyVancouver neighbourhoods and broadly based price gains in Toronto, where supply remains tight relative to demand. If Vancouver sales are excluded from the calculation, the year-over-year change in the national average price amounts to 5.6 per cent; excludingToronto and Vancouver shrinks the increase to 3.7 per cent.

“Changes in the national average home price reflect variations in home sales activity across and within local markets,” said Klump. “Failure to recognize changes in the mix of sales activity can lead to misinterpretation of average price fluctuations. It can also give rise to faulty predictions of broadly based home price deflation by way of price correction.”

Canada offers many different types of housing and a wide range of prices. Finding the right place for you
and your family to live will take some effort. The Newcomer’s Guide to Canadian Housing answers your questions about renting or buying a house. It gives you the right questions to ask landlords, building superintendents, real estate sales representatives, property managers and lenders.

Giving a complete picture of Canadian housing is difficult, because housing in each of the 10 provinces and three territories is different. There are differences in housing types, largely because of different climate conditions. Prices are different. They depend on local economic and employment conditions and the number of houses and apartments available.

You will have to be flexible. For example, you may find the house you want in a neighbourhood that you like. The house may cost too much, or the neighbourhood may be too far away from shopping or your job. You may have to accept a smaller place until you can afford what you really want.

You may find Canadian housing customs and practices different. For instance, Canadians consider a family with three or four children quite large. That means that there are not many four-bedroom apartments. Most Canadian parents want each child to have his or her own bedroom, particularly when the children become teenagers. Teenage boys and girls usually do not share a bedroom.

There is no Canada-wide law about housing. Every province has its own laws about renting and buying. If you are a tenant that is, if you rent—you have rights and responsibilities. This Guide tells you what they are.

For example, it is against the law to refuse to rent to you because of your:
• race
• creed
• religion
• colour
• family status
• age
In most provinces it is against the law to refuse to rent to you because you have children.

You are responsible for damage to your apartment or rented house that is more than normal wear and tear.
Leases are an important, legally binding part of any rental agreement. Mortgages are a legally binding part of buying a home. The Guide explains leases and mortgages in detail.

The Newcomer’s Guide to Canadian Housing starts with “Housing in Canada” information about housing in Canada. It tells you what you will find when you start looking for a place to live and what you should look for.

“Housing in Canada” is followed by “Renting” where you will find the information you need about renting an apartment or a house. The final section is about buying. This section explains mortgages, interest and takes you through the steps in buying a house.

For more information download and read the guide here:

“There’s great selection out there now,” Pamela Alexander, CEO of Re/Max you can find a starter property for around the $300,000 mark if you look long and hard – and not everybody has to look at a million dollar property out west. I think another thing is that people are seeing really solid equity increases in their principle residences and looking to draw some equity out of that as well to buy a cottage,” she said.

The report looked at the sales and trends in 46 markets across Canada and found that sales are up or on par in 41 per cent of cottage country. Half of markets, including Ontario, Atlantic Canada and the Laurentians, offer cottages at $350,000 or less, according to the report. In Ontario’s Muskokas, where expensive cottages are the norm, buyers have more option this year, Alexander said.

“There’s great value, $300,000 to $500,000 in the area there,” she said. “And it’s still really affordable if you just step back to some of the smaller private lakes or perhaps not as elaborate as those $5 million cottages.”

In Atlantic Canada, there are less international buyers leaving cheaper options for Canadians looking for a vacation home, Alexander said.

“One of the things that has changed there is the American purchasers, which was a really strong market for a long period of time, have really turned their sights elsewhere,” she said.

Average cottage prices in 2011:

• Newfoundland $105,000 (in 2008 it was $95,000)

• New Brunswick $450, 000 (2008, $200,000)

• Nova Scotia $240,000 (2008, $200,000)

• Prince Edward Island $350,000 (2008, $250,000)

• Quebec $450,000 (no prices for 2008)

• Ontario Muskoka $325,000 (2008, $275,000)

• Manitoba $280,000 (2008, $250,000)

• Saskatchewan $400,000 (2008, $300,000)

• Alberta $800,000 (2008, $1.25 million)

• BC North Okanagan $995,000 (2008, $1.5 million)

• BC Salt Spring Island $669,000 ($1.3 million)

“Housing starts increased modestly in May due to an increase in multiple construction in most provinces and in rural starts,” said Bob Dugan, chief economist at CMHC’s Market Analysis Centre. ”The increase in multiples and rural starts was partly offset by a decrease in single starts.”

Urban starts increased 0.8 per cent to an annual rate of 161,000 units in May. Urban multiple starts were up four per cent to 100,000 units, while single urban starts fell 4.1 per cent to 61,000 units. May’s annual rate of urban starts increased 33.3 per cent in British Columbia, 13.5 per cent in Quebec, 11 per cent in the Atlantic region and 10 per cent in the Prairies. Urban starts fell 22.9 per cent in Ontario.

Rural starts were estimated at a seasonally adjusted annual rate of 22,600 units in May. TD Bank economist Francis Fong said in a note that affordability is beginning to erode as home price increases have significantly outpaced income and job growth.

“With the Bank of Canada set to raise interest rates later this year affordability will weaken further, putting downward pressure on overall prices and, thus, construction activity,” Fong wrote.

“TD Economics anticipates housing starts to run below their long-run sustainable level over the next few years as multi-unit building slowly unwinds.”

CIBC World Markets economist Krishen Rangasamy said housing starts reached a peak of around 200,000 in the first quarter of last year and the numbers have been on a gradual decline ever since, even with low interest rates.

“And with a recent softening in the pace of existing home sales, the listing to sales ratio rose to a seven-month high in April. So, we may see some softness ahead for housing,” Rangasamy said.

“We expect housing starts to continue to soften — a 10 per cent or so drop in starts compared to last year — as home prices stagnate in light of higher interest rates in the second half of the year.”

An average home goes for $373,000 nationwide, while in Vancouver the average price is $815,000. But BMO senior economist Sal Guatieri says a correction in Vancouver will likely be less severe than previous ones.

“Four corrections in the past three decades saw declines averaging 21 per cent. However, if interest rates stay low and wealthy immigrants continue to pour into the city, prices could stabilize sooner than in past downturns,” he said in a statement.

Vancouver’s house prices have nearly tripled in the last decade. The BMO report says demand from China has been strong, because of fewer travel restrictions and stricter purchase rules and high prices there.

Vancouver’s prices, after only being a tad higher than those in Toronto in the early 2000s, are now 71 per cent higher than those in Canada’s largest city.

The BMO report says average housing prices across the country have doubled in the past decade, to a new high hit in April.

“Prices are 5.1 times median family income and housing costs an extra two years of gross income compared to 2001, when the boom began and valuations were closer to historic norms,” Guatieri said.

The report says historically low interest rates have yet to make housing affordability a major issue yet, but that could change if there’s even a moderate rise in interest rates.

The report compared Vancouver’s market to those in Toronto and Calgary. Toronto’s prices should be stable in a low interest-rate climate, the report says, but could soften if rates increase in the next few years. Calgary’s housing prices have doubled within the last four years, but have yet to hit the highs set before the recession.

“Barring a sharp pullback in energy prices, Calgary’s house prices stand a reasonable chance of growing alongside incomes in coming years,” Guatieri said.

Average home prices in April 2011: (10-year change in brackets)

• Nationwide: $373,000 (122 per cent)
• Nationwide (without Vancouver): $337,000 (111 per cent)
• Vancouver: $815,000 (188 per cent)
• Calgary: $412,000 (127 per cent)
• Toronto: $477,000 (91 per cent)

Composting is not only good for the garden; it’s good for the environment. Roughly one-third of household waste is made up of organic material which can be composted. By diverting kitchen scraps and lawn and garden clippings from your regular household waste stream, you can make a significant reduction in the amount of garbage going to local landfill sites.

How it Works

A rich, dark, soil-like material, compost is formed when microscopic bacteria which live in soil and wastes begin to eat away at organic matter, causing the compost pile to heat up. Once enough heat is generated, the wastes start to break down.

The amount of time it takes for compost to form depends on what’s in the pile and how regularly it’s turned. It’s very important to keep the pile moist, but not wet.

The material should be turned every two or three weeks or when it becomes compacted or develops an odour.

Compost Material

Things you can compost include leaves, wood ash from fireplaces or woodstoves, coffee grounds, tea bags, nut and egg shells, lawn and garden clippings, fruit and vegetable wastes and leaves.

Be sure not to put in materials like pet wastes, charcoal or coal ashes, dairy products, fats, oils or oily foods, meats, bones or fat. It’s also a good idea to steer clear of throwing mature weeds in your compost pile because they could contaminate the compost and, eventually, your soil.

Your compost heap can be as simple as a small, three-sided bin, or as fancy as a covered, multiple-bin unit. You can make your own composter quite easily with some lumber as seen in the photo.

Getting Started

To start with, make sure you place your compost bin in a well-drained area of your property. When starting your compost heap, put down a layer of kitchen and yard wastes first, then add some soil, along with some commercial compost or manure to give the process a little extra help in getting started. Once these initial layers are formed, continue to add organic material, along with shovelfuls of soil.

Be sure to turn the pile so that everything decomposes. Turning the pile on a regular basis ensures that air is circulating, and that the pile is not overly moist or dry. You can avoid compost odors by always covering wastes with a layer of soil about one inch in thickness. Experts also suggest that no layer of material exceed a depth of four to six inches.

Also keep in mind that it takes longer for large pieces of material in a compost heap to break down. Try to restrict pieces of waste to one inch or less in size; these are ideal.

When your compost is ready to be used, it will be crumbly and soil-like in appearance. You may want to use a screen to sift out any large pieces of material which haven’t fully decayed.

Applications

Compost can be used to prepare garden beds before planting. It can also be used around trees and shrubs. As well, you can make a nutrient-rich solution for your garden plants out of compost and water. You can spread it over your veggie garden, like this one located close to the composter. A fenced-in garden keeps away woodland critters that may munch away your prized veggies.

This fenced garden and timber edged-composter is located in Marmora, at a rural log home and chalet on 1.5 acres. The estate is listed for sale at $699,900.

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license. Source: Ontario Real Estate Association.

For many people, just the act of digging in the soil can be very uplifting. But equally satisfying is the beauty a well-kept garden can add to your home. If you are thinking of selling your home, landscaping can actually increase your home’s “curb appeal” and “saleability.”

Even if you don’t consider yourself a green thumb, you can enjoy the art of adding colour and life to your garden. And, there are plenty of places to turn for tips and advice. Your local library or bookstore will have a variety of books and magazines to help you and the Internet has an abundance of gardening information as well.

Where to begin

You may be looking out the window at a lot of dead plants, leaves and debris leftover from the winter. The first job for most people will be a thorough clean up of your yard, planters and flowerbeds.

Create a plan

Take care to plan your garden before you start buying flowers and shrubs. Because garden centers are so busy at this time of year, it’s a good idea to bring along a sketch of what you want your garden to look like. Consider sunny and shady areas of your yard and decide where you want flowers, shrubs and vegetables to grow. Also be sure to think about a colour scheme, varying heights and widths of plants as well as blooming schedules. You don’t want the whole show to take place in early spring or summer.

Your local garden center can help you choose a combination of perennials, shrubs and annuals that will provide continuous colour throughout the entire growing season and into the fall. Many will even provide landscape design services free of charge provided you purchase the plants from them.

When to start

Once you start seeing tulips and other spring bulbs come into bloom, the soil is usually warm enough to start digging. The ground should also be thawed enough to divide and move perennial flowers and herbs, plant shrubs and trees and to start rejuvenating your lawn. It’s also a good time to prune bushes.

Spring gardening tips

Here’s a few more tips to get your garden growing this spring – check with your local garden center for more advice:

• Prepare your flower beds by deeply digging the soil and adding composted manure. Loosen heavy clay soil by adding peat moss.
• Plant perennials now and enjoy them for years to come. Pay attention to different blooming times and plan for a sequence of color all season long.
• Tidy up your spring bulbs by removing faded flowers. Don’t cut down the leaves of your spring bulbs until the foliage turns brown. Bulbs need their leaves to replenish food reserves for next year’s flowers.
• Plant summer flowering bulbs such as Freesia, Gladiolus, Dahlias, Lilies and Anemonies.
• Plant annuals and vegetables once all risk of frost has passed.

A well-planned and maintained landscape will beautify your home and provide an oasis for the senses. Here is a home with gardens that have become an extension of the home’s living space – outdoors. This century home in Campbellford is within walking distance to shops, schools, restaurants, walking trails and waterfront parks along the Trent Canal. The gardens include privacy decking and landscaped patios to create outdoor rooms to enjoy living beyond the indoors. Asking $194,900.

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license.

Source: Ontario Real Estate Association.

Each weekend in spring and summer you’ll find yard sales popping up in neighbourhoods everywhere. And, where there are yard sales, there are yard sale “junkies.” For many people, scouring yard sales for a bargain on a Saturday morning is an art. Why not take advantage of that fact to make some cash off your cast-offs and have fun while you’re at it.

Yard Sale for Cure

“Yard Sale for the Cure” is the natural evolution of our involvement with breast cancer, and yet another occasion for us to give back to the community. In real estate, it’s often said that you only have one chance to make a good first impression.

There is no truer adage when it comes to selling your home. A well maintained and clutter-free home will sell more quickly and for a higher price than a similar home that is not as inviting. “Yard Sale for the Cure” provides homeowners with an excellent opportunity to unload items no longer in use, while simultaneously raising much-needed funds for Breast Cancer Research.

RE/MAX invites you to join the event that brings hundreds of neighbourhoods together for a massive one day yard sale in support of breast cancer. This year, on May 28, look for the pink “Yard Sale for the Cure” signs while you search out bargains.  Or consider hosting your own lawn sale!

The Ontario Real Estate Association and your local REALTOR® offer the following tips to host a successful yard sale:

First, settle on a date and time for your sale. Weekends are virtually universal for yard sales, and most run from 8 or 9 a.m. until 4 or 5 p.m. You’ll also need to set a rain date, usually the next day if your sale is on a Saturday, or the following weekend if your date is Sunday.

Most sellers advertise by posting signs on lamp posts and hydro poles. This is a more effective way of letting people know you’re open for business than you might suspect. Veteran buyers (see below for more) will scout a neighbourhood during the week looking for telltale flyers. Many of your customers will use this method.

Have someone present at all times. Theft is unlikely, but many sellers have learned the hard way that it does happen. Placing valuable items closer to your sales desk is a good idea.

Running out of change is also a problem that plagues many sales. As most of your transactions will involve small amounts, it never hurts to have $50 or more in small bills and loonies and twoonies at hand. Buyers will often stop at a bank machine before they come, so expect to get a lot of tens and twenties early in the day.

The ability to deliver the kind of goods and service that buyers want is perhaps the most important factor in the success of your sale. There are a number of items that are always in high demand: art, antiques (even distressed pieces), furniture, appliances, electronic equipment, tools, and lately, computer games and accessories. If you have goods in any of these categories, mention them in your flyer or ad.

As to pricing your goods, nothing turns away a potential buyer more than a price that is too high. You can always expect haggling, but most won’t even bother if you price an old lamp at $20, when similar items can be had for $5. The best plan of action is to attend a few sales the week before, and find out the going prices.

How you physically place your goods can also make a big difference. Don’t clutter up your yard, and make sure your items are separated by category. This is a great opportunity to be creative. For example, there is a mini‑boom in memorabilia from the 50s, 60s and 70s. Believe it or not, the old Lava Lamp you consider trash, might be exactly what someone else is looking for.

Another good tip that will help make a sale is to offer free coffee to your visitors. A friendly face and a free cup of java can do wonders. Or if you want to get the kids involved, have them set up an old-fashioned lemonade stand and charge five cents a cup.

Finally, the success of a yard sale is measured by the amount of additional space you have in your house after the yard sale is over, and the amount of money you make. Now you may be tempted to run out and purchase more items that will likely end up in your next yard sale. But, why not celebrate your success by spending the money on dinner at a nice restaurant for the family and whoever helped at the sale.
This home has not only got excellent items for sale on their front lawn each weekend, but the house itself is for sale.  This Century home in Campbellford is within walking distance to shops, schools, restaurants, walking trails and waterfront parks along the Trent Canal. Lovingly restored woodwork, original trim, hardwood and pine floors grace the interior. It is for sale at $194,900.

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license

RE/MAX Ontario-Atlantic Canada and RE/MAX of Western Canada examined 12 major centres from coast-to-coast and found that luxury sales have surged in close to two-thirds of housing markets between January 1 and April 30 of this year, compared to the same period in 2010. Six of the seven major cities examined – with the exception of Calgary – are poised to set new records in top-end activity by year-end. Several are just short of peak levels reported in 2010. Despite limited inventory levels and upward pressure on prices, sales of luxury homes in 2011 have surpassed last year’s record performance in the Greater Toronto Area. Toronto’s core continues to draw the lion’s share of purchasers, with the vast majority of sales occurring in older, established neighbourhoods such as Rosedale, Forest Hill, South Hill, Annex, Lytton Park, Lawrence Park, Leaside, Bridle Path and Hogg’s Hollow in the central core, the Kingsway and Princess Anne Manor in the west end, and the Beach to the East.

Serious equity gains in recent years have contributed to increased demand from local purchasers for luxury product across the board, although some foreign investment has been noted. Given strong demand and nominal supply of upscale properties within the Greater Toronto Area, the market is likely to continue to experience strong upward momentum for the remainder of the year. A number of factors position Canada as an attractive option, foremost that its real estate remains a bargain by international standards, given its ranking for quality of life, political and economic stability and the strength of its property laws. To those abroad, it is a perfect mix.

The climbing wealth factor has played a role. The financial status and number of millionaires is rising once again – a fact supported by several recent studies released by notable institutions such as capGemmi/Merril Lynch, CitiPrivate Bank, Deloitte Centre for Fianacial Serivces and Investor Economics – to name a few. While estimates vary, the studies concluded that the high net worth population in Canada and/or aborad and its corresponding fortues, is trending upward and will experience considerable expansion moving forward. Despite the impact of the 2008/2009 global financial crisis, most millionaire portfolios/assets have improved or exceed pre-downturn levels. Residential re estate holdings have increased among high net worth individuals, as they express a clear preference for tnagible assetts. This trend is expected to continue and serve to boost high-end residential real estate in months ahead in 2011.

A prime example of a luxury home that has riden out the tide through the real estate down-turn for luxury home sales during 2009/2010 is an estate known as Ravenstone located between Toronto and Ottawa. Situated on 1.58 acres overlooking the Crowe River is a custom-designed 3,200 sq ft log home with polished granite kitchen counters, sunken great-room with oak floors and walnut dowlings, vaulted post & beam ceilings, dble-sided stone fireplace, family room with custom-built wet-bar, master en-suite with heated Italian porcelain floors & jet tub, walkouts from bedrooms to riverside decking.

Additional 2-BR 960 sq ft, chalet contains a loft and ensuite with claw-foot soaker tub, ideal as a guest house, nanny’s quarters. Surrounded by landscaped gardens, gazebos, patios, decking & hot tub, tall pines, next to 280 ft of Crowe River shoreline with a private boat dock. A bargain for luxury home-hunters at $699,900 CAD.

There is an open house at Ravenstone during Canada’s May long weekend on Saturday May 21 and Sunday May 22 from 1 – 3 pm each day. Contact Astrid Hood for directions.

Source: RE/MAX Ontario-Atlantic Canada

Walleye are also know as Pickerel and, according to Fishing Ontario published by Mussio Ventures Ltd., a book I picked up at the Campbellford Canadian Tire Store, Walleye are the most prized sport fish in Ontario.  The Walleye’s diet is made up of mainly baitfish and you can also try leeches or grubs. When jigging along the shoreline you need to know where to pick the best location.  Look for weed beds or go fishing at dawn or dusk when walleye are most active during the darker times of day.

Jigs are a great lure for walleye anglers.  The single hook nature of the jig provides the ability to be worked effectively through weeds.  According to Fishing Ontario, the key to finding a successful jigging lure for either size or colour is done mainly thorugh trial and error.

Campbellford, normally a quiet town becomes a hive of bustling activity on the May Long weekend when the locks are open and fishing season begins. A great, spot with easy parking and lots of shoreline to find your own private fishing spot is near the Meyersburg Flea market.  Once you make your way out to shore, here are locations to look for when casting from shore of the Trent River:

• Find a rocky rubble in a point or wade out onto shoals into deeper water where this could be a source for early Spring Walleye.
• Shoreline rocks and weeds are where Walleye like to feed using your single hook jig.
• Down at Percy Boom you can find a pier or wall with deeper water just out in front where you may find Walleye after spawning.
• Flyfishing into the river rapids when the fish are on can be more challenging but rewarding method in catching your fish.  Many experienced fly anglers will have 2 or 3 rods of different weights for different fish sizes.

This year we have had a long cool Spring and so the fishing season should be great along the Trent River system south of Campbellford near Meyersburg.

Here is a country family retreat set on 3.39 acres with 185 ft on the scenic Trent River. This 7-bedroom, 2.5 bath, 2-storey, home with 2 double detached garages, and detached workshop with hydro has a fenced above-ground swimming pool, surrounded by landscaped gardens with fruit trees, flagstone paths and gazebo. This part of the Trent is excellent for fly-fishing, or a boat launch is just down Percy Boom Road to enjoy 12 miles of lock-free boating. This home has several wheel chair ramps and would be a wonderful Bed and Breakfast retreat, vacation rentals or bring your in-laws to live with you. For sale at $399,900.

Source – Fishing Ontario Kawarthas, Musio Ventures

Another valuable tool for Realtors® facing multiple offer situations is OREA’s standard form, Offer Presentation – Acknowledgement (Form 109). This form is designed to prove to the buyers that their offer was in fact presented in situations where the offer was not accepted or was not signed back. It can also be used to verify that a seller’s counter-offer has been presented to a buyer.

There are advantages and disadvantages to being in a multiple offer situation, which is why buyers and sellers need to be fully informed of the options, benefits and risks involved, as well as the brokerage’s policies on dealing with them. Clients should also be made aware of the options open to the other party to the transaction, so that they can make informed decisions about their own strategy.

Although multiple offers can be satisfying for the seller and the listing brokerage, there are risks involved. It’s a good idea to talk about the various options with your REALTOR during your initial listing presentation. Your REALTOR will let you know their policy on handling multiple offers and how the presentations will be handled.

If you decide to accept one offer, the other buyers may walk away and set their sights on another property. If the accepted offer is conditional and the conditions are not met, there may be no transaction at all.

If you counter an offer in any manner, the buyer may wait until the last minute before deciding whether or not to accept that counter-offer. If you reject all offers and advise all buyers to reconsider their positions and bring their best offers at a specific time, some buyers may decide not to participate.

A seller must avoid making more than one simultaneous counter-offer because several buyers may accept at the same time and this could result in competing contracts and potential lawsuits.

A REALTOR representing buyers, has to be sure to make their clients are aware of the volatility and nature of the current market so that they can decide on their negotiation strategy. Price may not be the only concern for the sellers and there may be other concessions that would make your offer more attractive. For example, buyers may decide to arrange financing and property inspections in advance, forego chattels, make a higher-than-usual deposit or adjust the closing date.

Section 26 of the REBBA Code of Ethics applies specifically to multiple offers. If a brokerage that has a seller as a client receives competing written offers, the brokerage must disclose the number of competing written offers to every person making an offer, but it cannot disclose the content of those offers. This also applies to a brokerage with a seller as a customer, if part of the arrangement with the customer is for the brokerage to receive the offers.

Another requirement of REALTORS is to convey any written offer, amendments, waivers, etc. to the client at the earliest practical opportunity regardless of the identity of the individual making the offer, the contents of the offer or the nature of any arrangements for commission or remuneration. This is all subject to the written direction of the client or arrangement with the customer. A seller may consider receiving multiple offers an exciting oportunity, but all offers must be treated in a fair manner.

A recreational property located north of Campbellford with Crowe River access, is scheduled to have several showings in one weekend.  This property comes equipped with a recreational mobile home, a guest bunkie, and a workshop with 2 bathrooms, septic in place and water hookup.  There is access to the popular Crowe River for fishing and swimming.

This could result in multiple offers and the Seller’s REALTOR will have to balance the receiving and presentation of all offers to give fair opportunity and customer service to the buyers as well as have the Seller have full opportunity to review all offers before deciding on which one to consider.

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license. Source: Ontario Real Estate Association (OREA)

Buying a home is the smartest financial decision you will ever make.  In fact, most American and Canadian homeowners would be financially broke at retirement if it wasn’t for one saving grace — the equity in their homes.  Furthermore, mortgage rates are more flexible today than ever, and tax allowances favor home ownership.  Real estate values have always risen steadily.  Of course, there are peaks and valleys, but the long-term trend is a consistent increase.  This means that every month when you make a mortgage payment, the amount that you owe on the home goes down and the value typically increases.  This “owe less, worth more” situation is called equity build-up, and is the reason you can’t afford not to buy.

Even if you have little money for a down payment, or credit problems, chances are that you can still buy that new home.  It just comes down to knowing the right strategies, and working with the right people.  See below.

Deadly Mistake #2: Not hiring a Buyer’s Representative to represent you. Buying property is a complex and stressful task.  In fact, it is often the biggest, single investment you will make in your lifetime.  At the same time, real estate transactions have become increasingly complicated.  New technology, laws, procedures, and competition from other buyers require buyer agents to perform at an ever-increasing level of professionalism.  For many home buyers, the process turns into a terrible, stressful ordeal.  In addition, making the wrong decisions can end up costing you thousands of dollars.  It does not have to be this way!

Work with a Buyer’s Representative who has a keen understanding of the real estate business and who is on your side.  Buyers’ Representatives have a fiduciary duty to you.  That means they are loyal to only you and are obligated to look out for your best interests.  Buyers’ agents can help you find the best home, the best lender, and the best InterNACHI inspector. This last perk is particularly useful, as there are many unqualified inspectors on the market today!

Trying to buy a home without a REALTOR® or a qualified inspector is, well… unthinkable.

Deadly Mistake #3: Getting a cheap inspection. Buying a home is probably the most expensive purchase you will ever make.  This is no time to shop for a cheap inspection.  The cost of a home inspection is very small relative to the home being inspected.  The additional cost of hiring a certified inspector is almost insignificant.  As a home buyer, you have recently been crunching the numbers, negotiating offers, adding up closing costs, shopping for mortgages, and trying to get the best deals.  Do not stop now.  Do not let anyone talk you into skimping here.

Here is a Century home built in 1898, in Campbellford within walking distance to shops, schools, restaurants, walking trails and waterfront parks along the Trent Canal. Lovingly restored woodwork, original trim, hardwood and pine floors. Tastefully decorated with elegant window coverings. Large bathroom with tiled floors and refinished claw-foot tub. Forced air gas furnace in 2009. Kitchen windows in 2010. Other windows replaced 2003/2004. New drywalling in most rooms. A home inspector would give it a passing mark for all the modern upgrades!

InterNACHI front-ends its membership requirements.  InterNACHI turns down more than half the inspectors who want to join because they can’t fulfill the membership requirements. InterNACHI-certified inspectors perform the best inspections, by far.  InterNACHI-certified inspectors earn their fees many times over.  They do more, they deserve more and, yes, they generally charge a little more.  Do yourself a favor…and pay a little more for the quality inspection you deserve.

source: Jones on Homes jonesonhomes@hotmail.ca

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license.

Closing is the point at which ownership and usually possession of the property is transferred from the seller to you. It takes place after the parties involved agree that all legal and financial obligations have been met. Your lawyer and your REALTOR® will do much of the work, but here’s a checklist that will show you what to expect as the process unfolds:

• Make sure a copy of the signed Agreement of Purchase and Sale is sent to your lawyer right away. Your REALTOR® will usually do this for you. Your lawyer needs to see any conditions that exist, and the date you and the seller have agreed to close. The lawyer will ask you how you (and others involved in the purchase) want to be registered on the title to the property.
• Immediately begin satisfying any of the conditions of the agreement that require your action. These have definite dates attached to them and if you miss one you may have to arrange an extension or possibly risk losing the entire deal. As each condition is met, the REALTOR® will fill out a waiver form for signatures. Note that most lawyers won’t be doing many of the tasks they need to do for closing until the conditions are waived.
• Upon your direction and after the conditions have been met, your lawyer will begin searching title to the property. This is an exercise of going back through government records to ensure a clear title that is transferable. Electronic registration and title insurance have significantly changed the way titles on properties are transferred.
• If you decide to have the home inspected, your offer should contain a condition that the property passes inspection.
• If no current land survey exists on the property, arrange for one soon. Your lender may require it, and you’ll want it for your own peace of mind, anyway.
• Contact your lending institution to begin the process of finalizing mortgage documents. Ask if your lawyer can draw up the documents; this will usually save money.
• Your lawyer will contact the seller’s lawyer with any questions or issues regarding title and costs.
• Your lawyer will check with local utilities (hydro, gas, water) to ensure there are no outstanding claims and to get final meter readings on the day of closing. You should contact the utilities and telephone and cable companies well in advance to arrange for services in your name.
• Meanwhile, your lawyer is busy making sure that property taxes on your new home are up-to-date, local zoning and building restrictions have been met and there are no liens on personal property, such as appliances, to be sold with your house. You want your lawyer to make sure that what you’ve agreed to buy is what you’ll get — nothing more or less.
• Well before closing; contact your insurance agent to arrange homeowner’s insurance coverage to become effective on the date of closing. Your agent can give you a “binder” letter, certifying coverage is in place. If you’re moving from your current owned (rather than rented) home to another, your agent will handle the homeowner’s insurance transfer for you.
• Your lawyer will review and verify the draft deed, statement of adjustments and other closing information provided by the seller’s lawyer, and will deal with any problems as they arise.
• A day or two before closing, you’ll meet with your lawyer to go over and sign the closing documents. Bring the certified cheque(s) to cover costs involved. Your lawyer will let you know the amounts in advance. The big day arrives. You don’t need to be present, usually. The lawyers for both parties exchange documents, keys and cheques and then register the deed and mortgage. Soon thereafter you’ll be given the keys to your new home.

Now the celebration begins

Here is a home with a Seller waiting for A buyer to close the deal with!   Located in a desired neighbourhood of Meyers Island, Camnpbellford, Ontario, this unique open-concept home with second-level interior balcony, tongue- in-groove pine ceilings, wood-burning fireplace inset, provides wonderful water views of the Trent River in a cozy cottage-like atmosphere. Asking $315,000.

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license. Source: Ontario real Estate Association.

Asking Price $315,000

A home inspector will provide a visual inspection by looking at the home’s various systems, including interior and exterior components.  The inspector will check exterior components including roofing, flashing, chimneys, gutters, downspouts, wall surfaces, the foundation and the grading around it.
Interior systems the home inspector will check include electrical, heating, air conditioning, ventilation, plumbing, insulation, flooring, ceiling and wall finishes, windows and doors.  To be properly inspected, a chimney must first be cleaned.

Sellers can speed their home inspection by following these suggestions. The inspection will go smoother, with fewer concerns to delay closing.

1. Confirm that water, electric and gas service are on, with gas pilot lights burning.

2. Ensure pets won’t hinder the inspection. Ideally, they should be removed from the premises or secured outside. Tell your agent about any pets at home.

3. Replace burned-out light bulbs to avoid a “light is inoperable” report that may suggest an electrical problem.

4. Test smoke and carbon monoxide detectors, and replace dead batteries.

5. Clean or replace dirty HVAC air filters. They should fit securely.

6. Remove stored items, debris and wood from the foundation. These may be cited as “conducive conditions” for termites.

7. Remove items blocking access to HVAC equipment, electric service panels, water heaters, attics and crawlspaces.

8. Unlock areas the inspector must access: attic doors or hatches, electric service panels, closets, fence gates and crawlspaces.

9. Trim tree limbs to 10 feet from the roof, and shrubs from the house, to allow access.

10. Attend to broken or missing items such as doorknobs, locks and latches, windowpanes, screens and locks, gutters, downspouts and chimney caps.
Checking these areas before your home inspection is an investment in selling your property. Your Realtor will thank you.

Shown above is a Trent Canal waterfront home that has been prepared to be inspected by any home inspector with minimal interference to a home inspector’s visual review.  It is an open-concept Viceroy style home with second-level interior balcony, tongue- in-groove pine ceilings, wood-burning fireplace inset that has been WETT inspected. Recent improvements include newer stair and bedrooom carpets, steel roof on garage in 2009, fireplace insert in 2009, renovated main floor powder room, and freshly dry-walled and painted bedrooms. Most of the original windows and glass doors have been replaced. Asking $315,000.

Source: Terry Jones, Jones on Homes; Canada Mortgage and Housing Corporation.

Email jones on homes

In order to get prepared, here are ten things REALTORS® need to know:

1. With a few exceptions, REALTORS® will no longer be able to send electronic messages to clients or potential clients without their consent.

2. Consent will be implied for REALTORS® to send electronic messages to a client for two years following a real estate transaction and six months after an inquiry from a potential client.

3. A transitional provision allows REALTORS® to send electronic messages to clients without their consent for three years, provided the relationship existed before the new rules come into force.

4. The onus is on the REALTOR® to prove consent; therefore you must document that consent has been obtained by a recipient.

5. When obtaining consent, REALTORS® must set out the purpose for which the consent is being sought, as well as information identifying them. More details about obtaining consent will be included in the regulations issued for the legislation, which have not been drafted yet.

6. REALTORS® will need to ensure each electronic message contains their contact information, an unsubscribe mechanism, and any other information set out in the forthcoming regulations.

7. Consent will be implied and REALTORS® will be able to follow up by email with new contacts they meet at networking functions, so long as the electronic message is relevant to the recipient’s business.

8. Consent will not be implied for REALTORS® to follow up on a referral unless the potential client provides their express consent, or has a personal, family or existing business relationship with the REALTOR®.

9. REALTORS® who fail to comply with these new electronic marketing rules could face administrative monetary penalties of up to $1 million for individuals and $10 million for corporations. In addition, individuals who receive unsolicited electronic marketing materials from a RELATOR® could launch a private right of action and sue for monetary compensation.

10. Telephone marketing continues to be governed by the Do Not Call List rules. In the future, the government may include telephone marketing under the same electronic marketing compliance regime.

Source: the Canadian Real Estate Association

You can email Astrid Hood anytime to let her know you would be happy to recieve updates on properties for sale in Ontario. She has several listings for sale that she can email the details to you. Such as this log home with chalet over-looking Crowe River located in Marmora, listed at $799,900. Just Ask!

As with most major decisions, the amount of work and research you undertake can have a dramatic effect on how well you do in the end.  Here are some tips when you are ready to negotiate for the home of your choice:

1  Needs vs Wants

Everyone can picture their ideal home.  If you haven’t thoroughly prepared yourself prior to viewing houses, chances are that you will find what you think is your ideal home, and will wind up paying too much for it. It is essential to treat the buying process in a slightly detached manner.  Those who fall in love with houses usually pay too much. That’s why it’s recommended that you develop a list of needs and one of wants.

When looking at houses, make sure that they cover all of your needs – things like adequate space, a good neighborhood, perhaps a garage – and then have fun with items on your wants list.  Treating the process in a regimented manner will help you to make a rational, informed decision.

2 Get pre-approved

Visit your lending institution prior to shopping.  Be sure to get a mortgage commitment in writing. Being pre-approved gives you a solid price range, and lets your Realtor® and potential sellers know that you are serious and not just a browser.

3 Get the right people behind you

Buying a home is a complicated process, with many people involved.  Having the right people on your side can make a big difference.  An experienced, dedicated, and knowledgeable Realtor® can put a team of advocates, including lenders, lawyers, home inspectors and movers, on your side immediately.

4 Communicate

The more you share with your Realtor®, the better he or she will be able to represent you.  Letting your representative know exactly what you’re looking for, in terms of needs/wants, price range, and location, can eliminate unnecessary trips to unsuitable homes and that focus can help ensure that you wind up in the right home.

5 Location, location, location

It’s still true.  The desirability and resale value of your home depend on location more than any other factor. People want a desirable community that includes character, quality of schools, access to work, major transportation arteries, recreational facilities, etc. On your viewing trips, take a careful look and ask the following questions: How does this home compare to others in the neighborhood? Are yards fenced? Are there many children playing in the streets? Are the front and back yards and the exteriors of the homes properly maintained?  The less expensive houses in a better area tend to appreciate faster than the most expensive houses in a less desirable area.

This home (see photo above) will be difficult not to get emotional over.  Located in a prime location on Belmont Lake waterfront, surrounded by 5.95 acres of scenic woods and meadows where wildlife will visit at your doorstep.  A nature boardwalk leads you to a waterfront dock for boating and swimming.  Priced at $509,900.

6 Proceed quickly

When you’re ready to buy, act.  Good properties sell.  This is especially true given the current state of most real estate markets. However, when you work with a Realtor®, you have access to the latest technology. As part of the MLS and Agent Handshake networks, a Realtor® has access to properties within hours of when they are listed. Technology works to your advantage. Many Realtors® now have personalized websites which allow you to sign on as a client, and receive notification of new listings via email. You save time and effort, and you can view only those homes that come closest to meeting your needs.

7 Keep it impersonal

You want your Realtor® to know details about your financial circumstances and what you are looking for in your dream home, but your Realtor will maintain her poker face and keep your cards hidden with the negotiations.  Don’t get offended or emotional when counter offers or sign-backs come back at prices or conditions you find unacceptable. This is part of the meeting in the middle process to make a fair deal for both parties.Most people expect to haggle over the price. There is always room for negotiation, and your Realtor® should be a professional negotiator.

source: Astridhood.Point2agent.com

Low interest rates and a recovering economy continued to fuel activity in Canada’s housing markets over the past year, which has led to country-wide increases in average home prices. In the first quarter of 2011, the national average price of a detached bungalow rose 4.3 per cent year-over-year to $341,355, while standard two-storey homes rose 3.5 per cent to $379,388 and standard condominiums rose 4 per cent to $237,919.

“The rate at which Canadian homes are appreciating may well have peaked for the next year or so,” said Phil Soper, president and chief executive of Royal LePage Real Estate Services. “We expect house prices will continue to creep up, but most of the excess demand created by the initial drop in interest rates has been satisfied, and affordability continues to erode slowly, allowing the listings supply to catch up. In most markets, lower single digit percentage increases are more likely for the balance of the year.”

In the first quarter of 2011, certain markets such as Vancouver, Montreal and Halifax continued to experience significant price gains compared to the same period a year earlier, largely due to favourable regional demographic shifts and healthy local economies.

“Canada’s real estate market has maintained momentum coming out of 2010, indicating that the post-recession recovery is continuing,” Soper added. “While low interest rates continue to drive demand, the tepid pace at which employment levels are improving is tempering the rate of home price appreciation in many Canadian cities. The exception to this trend can be seen in markets like Vancouver, where foreign buyers, particularly from China, are driving demand in select mid-to-high priced markets, and driving up the regional average reported home prices at a surprising pace. In Montreal and Halifax, demand from first-time buyers and purchasers of luxury homes are creating significant year-over-year gains in home values.”

Among the best performing markets in the first quarter of 2011, Vancouver’s standard two-storey homes increased 9.7 per cent year-over-year to $1,083,750. Detached bungalows in Montreal rose 7.6 per cent year-over-year to $276,343 and standard condominiums in Halifax rose 13.1% year-over-year to $191,500.

Meanwhile, year-over-year price appreciation softened in St. John’s where the market is cooling down after an extended period of double digit price increases. In Saint John, detached bungalows dropped 6.3 per cent year-over-year to $178,000. While the medium-term prospects for the housing market in Alberta’s major cities remains very positive, the city of Calgary in particular is still adjusting to the rapid pace at which home prices appreciated in the middle of the past decade. The average price of a standard two-storey Calgary home was down 2.1 per cent year-over-year to $423,122.

Regional Market Summaries

Halifax witnessed the largest year-over-year price gains in Atlantic Canada, and some of the highest gains nationally, including the largest increase in standard condominiums rising 13.1 per cent.

Montreal continued to post strong gains as standard condominiums posted a year-over-year increase of 8.7 per cent, while detached bungalows rose 7.6 per cent.

Ottawa’s first-time buyers continue to drive the housing market as the region saw year-over-year price appreciation ranging between 5.2 to 5.9 per cent across all housing types surveyed this quarter.

Toronto’s detached bungalows and standard condominiums made healthy gains increasing 4.5 per cent and 3.7 per cent respectively. Demand for detached bungalows was driven by first-time buyers concerned with potentially rising interest rates and developers who are rebuilding or renovating the homes into larger units.

Winnipeg’s standard two-storey homes posted strong year-over-year gains rising 7.1 per cent to an average price of $297,125, second only to Vancouver in growth and tied with Halifax for this housing type.

While Saskatoon’s housing market posted modest changes, the three housing types surveyed in Regina made healthy year-over-year gains ranging from 3.2 per cent to 5.4 per cent.

Edmonton’s housing market stabilized with year-over-year price changes ranging from minus 1.8 per cent to increases of 2.3 per cent.

Calgary’s house prices saw modest year-over-year depreciation across all three housing types surveyed as a result of an increase in inventory. This coupled with low interest rates has presented attractive opportunities for potential buyers.

Driven by low interest rates, single family homes in Vancouver again dominated house price gains as two-storey houses rose year-over-year by 9.7 per cent. Although inventory is down slightly from last year, listings are keeping pace with demand.

Royal LePage’s quarterly House Price Survey shows the annual change of prices for key housing segments in select national markets.

Click here to view the chart

Housing values in the Royal LePage House Price Survey are Royal LePage opinions of fair market value in each location, based on local data and market knowledge provided by Royal LePage residential real estate experts.

Royal LePage Q1 2011 House Price Survey – Data Chart

How much will it cost?

Kitchen renovations can cost you anywhere from $2,000 to $3,000 for a cosmetic facelift with no new cabinets, plumbing or electrical changes. Look to spend at least $10,000 if you choose new low-end cabinetry, counters, appliances, flooring, paint, and some minor structural changes. However, the sky’s the limit when it comes to a new kitchen and you can expect to pay $20,000 and up for high quality cabinets, custom work and many upgrades.

Keeping costs down

There are ways to cut costs when updating your kitchen without sacrificing quality.  Regardless of what you do budget, you should get the best you can afford. If your budget is tight and smaller projects are what you’re aiming for, here are a few ideas with the main goal to create a bright and open modern space:

Resurface or repaint old cupboards

Paint is inexpensive and can transform wooden cupboards in a matter of hours. Try a new painting technique, or a textured look, or a zesty combination of colours. You can also resurface old cupboards with wood laminate, or one of the new, non-traditional plastic-based materials that resist chipping, denting and staining. Formica counter tops, for example, provide the look and feel of expensive solid surfacing at about half the cost.

Use more glass

Replace a few cabinets with glass ones. Glass and mirrors in a room add the illusion of more space, as well as glamour — especially if you add interior lights to your new cupboards.

Change your hardware

Simply adding new cabinet and drawer handles can change the look of a kitchen! With the many choices in colour, size and style of drawer knobs and handles, there’s no limit to what you can achieve.

Floor and wall facelifts

Paint, wallpaper and flooring in a variety of textures, styles, colours and patterns can easily spice up a bland kitchen. Stencil a border around a window,below a ceiling, or between the cupboards and the counter tops and you can change the mood overnight.

Be innovative

A good kitchen should not only look great, but stand up to daily wear and tear. It should function well and enable people to move freely between it and related areas of the house.

A great room with kitchen was built as an addition to a 35 year old home. The renovation increased the home’s total square footage.  The bright open-concept room with large windows, a walk-out to a balcony, many pot lights, neutral colours and gleaming porcelain floors have created a modern open feel to an original older-style home.  This Trent Hills home is currently for sale at an asking price of $329,900.

If you plan to completely remodel the kitchen, be honest about your ability. You may want to leave this important job in the hands of an expert who can do the work quickly and professionally. A kitchen designer/contractor can suggest unique ideas and come up with creative solutions to particular problems. Finally, be sure to get at least two bids on the work you plan to do and compare these carefully.

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license. Source: Ontario Real Estate Association.

“In a more balanced housing market, it makes sense that younger and first time homebuyers are waiting to assess all of their options and do their research before buying a home,” said Bernice Dunsby, director of Client Acquisition, Home Equity, RBC. “It’s also important to get expert advice on what you can afford and leave yourself with a little extra wiggle room in your budget so you don’t become house poor, as home maintenance and lifestyle costs can add up.”

The poll found that younger Canadians are more likely to purchase a home than other age groups, as 43 per cent (aged 18-34) are looking to buy in the next two years, compared to the national average of 29 per cent. Older Canadians are much less likely to buy in the next two years, including those aged 35-54 (29 per cent) and over-55 (17 per cent).

When looking for advice on purchasing a home, younger homebuyers (aged 18-34) are more likely to use real estate websites (55 per cent) or family (48 per cent) and friends (35 per cent). The majority of older Canadians, aged 45-54 and over-55, are more likely to rely on a real estate agent as their choice for advice, at 71 per cent and 74 per cent respectively. “Being prepared and working with a mortgage specialist will help you buy with confidence and give you expert advice on current financing options,” added Dunsby. “Having a mortgage pre-approval is a critical component of buying a home, particularly for younger homebuyers. It presents you as a serious purchaser to both realtors and sellers.”

According to the poll, younger Canadians (aged 18-34) are most concerned about having a good down payment (23 per cent) and rising real estate prices (23 per cent) when looking to buy a home. Canadians aged 35-54 are most concerned with rising prices, as 24 per cent are worried about mortgage rates and 25 per cent about home prices increasing. Canadians over the age of 55 list increasing home prices (36 per cent) as their biggest worry when deciding to purchase a home.

While 43 per cent of younger Canadians (aged 18-34) are paying off their mortgage faster than they expected, two-thirds (66 per cent) say it is larger than they would like it to be.

5 tips for Canadians looking to buy a home:

Leave some wiggle room: Line up your paycheque and compare it to your total costs. Make sure that you have enough left over for new furniture, repairs and costs of living. Do a spending analysis to see what the total costs of homeownership would be relative to your lifestyle and build that into your plan (i.e. if you enjoy eating out or going to the gym).

The power of the pre-approval and stress test: Make sure you have your financing in order before you start your search – it will show sellers and real estate agents that you’re serious.Mortgage pre-approvals have no obligation and help lock in your interest rate. Work with a professional mortgage specialist to test your mortgage for potential mortgage rate and cost increases to make sure you can handle it.

Don’t overbuy: Be realistic in choosing a home that’s within your means and make concessions on what you’re looking for. Set aside a budget for ongoing home maintenance and potential cost increases (for utilities, taxes and fees). Online tools and calculators can help you plan your budget.

Look at payment flexibility: Look at a mortgage that provides you with the option of doubling up your mortgage payment or putting down a lump sum payment once a year. Doubling up your mortgage payment just once per year can save you tens of thousands in interest costs and take years off your mortgage amortization period.

Don’t forget closing costs: Closing costs are typically one to two per cent of your final purchase price. Build this into your budget along with the cost of new appliances, utility and cable hookup and moving costs.

Types of homes are Canadians looking to buy?:

Younger Canadians (ages 18-34)

• Detached house 59 per cent
• Condo/loft 15 per cent
• Semi detached house 10 per cent
• Townhouse 10 per cent

Mid-range Canadians (ages 35-54)

• Detached house 71 per cent
• Condo/loft 10 per cent
• Semi detached house eight per cent
• Townhouse seven per cent

Older Canadians (55 and older)

• Detached house 68 per cent
• Condo/loft 15 per cent
• Semi detached house five per cent
• Townhouse five per cent

The Re/Max First-Time Buyers Report, highlighting trends and developments in nineteen major Canadian centres, found that low interest rates and balanced market conditions have provided significant impetus in 2011, particularly at lower price points.

“Despite homeownership rates approaching 70 per cent, there is clearly room for growth as entry-level buyers make their moves from coast-to-coast, undeterred by higher housing values and changes to lending criteria” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada.

“Many purchasers intent on realizing homeownership are scaling back on expectations or are willing to sacrifice location, quality and/or size to make their dream a reality – not unlike generations before them.”

Inventory levels, while tight in several larger centres, are more balanced overall, giving first-time buyers a good selection of housing product from which to choose. A typical first-time home buyer’s home can be found in Norwood, Ontario. Priced at $189,900 with 3 bedrooms, a fenced-in back yard, a large finished basement with family room.  Being in walking distance to schools and shops, all perfect for a young growing family.  Norwood is located within a 30 minute commute to Peterborough or an hour from the Greater Toronto Area.

“With the Canadian economy on firmer footing overall, residential real estate is well-positioned moving into the traditionally busy spring market,” says Elton Ash, Regional Executive Vice President, Re/Max of Western Canada. “Consumer confidence is climbing in conjunction with economic performance, and concerns over a secondary recession fade with each passing day. The mood is cautiously optimistic, as first-time buyers enter the market.”

As prices escalate, first-time buyers are indeed spending more—some out of necessity, but others are simply in a position to do so. Unlike in years past—a greater percentage of today’s first-time buyer pool is comprised of dual-income, college or university-educated couples with solid earnings. They’re spending close to average price or slightly more to secure—in most cases—a better location or a home that will grow with them. Yet, the fact remains that those on a tighter budget can get in for considerably less, with reasonable choices in every major market across the country. While some may feel discouraged by eroding affordability levels, the underlying confidence in the concept of homeownership is rising.

Source: Re/Max Ontario-Atlantic Canada

The Seller may counter your contingency with an escape clause. For example, the Sseller may wish to continue showing the house and if they receive another offer, you’ll have the option of backing out or removing your contingency.

Here are eight elements you will need to consider:

1. Basic Details: This includes the address and legal description of the property, and the names of the vendor, purchaser and brokers involved.

3. Chattel – Inclusions and Exclusions: Items within the home that will be included in the purchase price such as appliances, fixtures or decorations such as drapes or mirrors are referred to as chattel. Don’t assume that anything will be left behind. If you want it, put it in writing.

4. Deposit: Items within the home that will be included in the purchase price such as appliances, fixtures or decorations such as drapes or mirrors are referred to as chattel. Don’t assume that anything will be left behind. If you want it, put it in writing.

5. Terms: These include the total price of your offer as well as the financing details. You may arrange your own financing or may ask to assume the seller’s mortgage, especially if it has an attractive interest rate. There will also be an expiration date and time after which the offer is no longer valid.

6. Conditions: These might make your offer subject to home inspection, to your obtaining financing or to your selling your property.

7. Closing or Possession Date: These might make your offer subject to home inspection, to your obtaining financing or to your selling your property.

8. Request for a Current Survey of the Property: If the Seller does not have one, you may wish to make one obtaining a land survey a condition of the closing. In most cases, the Seller will not pay for a new survey. You can ask the vendor to provide a “Declaration of Possession” or you could buy a “Title Insurance” policy instead. If however, you are planning to add to the house or build a garage, the best idea is to request a new survey – you’ll likely need it to get your building permits or include the cost of a new survey as part of your building costs.

The municipality may have a record of land lot subdivision plans on record.  A property for sale also comes with zoning restrictions or land-use controls that you will want to investigate as part of your conditions to obtaining pbuilding permits when buying land.

Here is vacant land for sale with interested buyers investigating the potential to obtain building permits as part of their offer to purchase.

Source: Remax Ontario-Atlantic Inc.

If you’re not buying and selling strategically or for investment, the best time to sell is really when you feel your existing home will not meet your future needs. The best reason to purchase a new home is to take advantage of your family and lifestyle changes. Do you wish to be closer to a school? Are you switching jobs? Do you have an aging parent to care for?

In Canada, weather and holidays do play a factor. Almost no one goes house hunting around Christmas, and few give up their summer vacations. Of course, those with school-aged children are less likely to move during the school year and summer is an ideal time. In some areas, there is a definite “spring cycle” — perhaps it’s a bit of spring fever and a wish to break out of the bonds of winter.

Some gamblers look for winter bargains and then try to sell their homes during the spring cycle. But overall, that could be more tension and aggravation than you wish. And the monetary results may be disappointing.

Another key factor to consider is the economy. Are interest rates higher or lower in comparison to your current mortgage? If they are higher, you may want to stick with your current home, as your new mortgage payments could be uncomfortable. If rates are lower, you might be able to trade up to a more expensive home without a significant increase in your monthly mortgage obligation.

What’s more, if it’s a buyers’ market, you may be in a strong position to purchase a new home, especially if you have accumulated some equity in your current property.

The Spring is a traditionally busy time in Eastern Ontario to buy and sell homes.  You will be seeing a lot of Remax ‘for sale” signs going up on front lawns such as the home shown above.

Buy or sell first?

That’s tricky. After all, if you find a purchaser for your existing home, before you’ve found a new one, you may find yourself living out of a suitcase if convenient closing dates can not be negotiated. On the other hand, if you find your dream home before you’ve unloaded your old one, you may be faced with carrying two mortgages for a time.

So how do you manage? Easy. Do your homework and have a good idea about the neighbourhood and type of home you’re looking for. Do an honest evaluation of your family’s needs and budget. Speak to your RE/MAX representative and start your new home search as soon as your existing home hits the market.

If you’ve found a home, before you’ve sold your existing one, use “sale of your existing home” as a condition on your offer. If you don’t sell your house within a fixed period of time, you can choose not to go through with the offer. This, however, is a difficult condition for many vendors to agree upon and you may find that you have to forgo your price negotiating power.

Purchasing a home before you sell could be a risky strategy if you’re counting on the proceeds from the sale. If you’ve found a purchaser before you’ve found your next home, use “purchase of a new home” as a condition when you sign back the agreement. Again, it will only be for a fixed time. Even if you have not found the ideal next house by the time the deal closes, you may still wish to proceed with the offer. As a buyer with a “sold house” you will be in a better position to negotiate price.

Source: Remax Ontario Atlantic Real Estate

Ask your REALTOR® if your home’s listing will be exposed to global and local real estate market venues.

Also, local print ads in local Real estate newspapers available for visitos to your town, will inform buyers interested in your neighbourhood.  A brochure box at your lawn sign will give buyers a valuable resource and keep your listing at the top of their list. The latest cutting-edge marketing item from Re/Max is a lawn sign where the buyer who is examining your home from the curbside, can text a message to themselves and receive instant listing photos and information to their smart phone!

Open House

Your REALTOR® will also tell you that an open house can be another effective marketing tool. While some homeowners are adverse to this idea, it’s one you should discuss with your REALTOR® if you really want your home to receive maximum exposure to interested buyers. During an open house or prearranged showings, it’s a good idea to make sure that you and any other members of your family (including pets) are absent. Many buyers are intimidated by the presence of homeowners and tend to rush through a home as a result.

Keep in mind that effective marketing of your home requires a lot of communication between you and your REALTOR® and there are several things you can do to make sure your home gets the best possible exposure.  In addition to the marketing your Sales Representative will do for you, here are some tips you can do to make sure your home is ready when your buyers have discovered your listing:

Be Candid with Your REALTOR®

First of all, disclose everything you can about your property and the neighbourhood in general. This information will help your REALTOR® a great deal and he/she can choose how and when this information can be related to prospective purchasers. For example, there may be something about your home or the area you live in that you may take for granted, but that characteristic could be a major selling point for your home — such as its close proximity to local schools and recreation facilities.

It’s also wise to be candid about any potential drawbacks as well, so both you and your REALTOR® can be realistic in arriving at a suitable list price. Where possible, your REALTOR® is likely to have some suggestions as to how these problems can be improved upon.

As well, your REALTOR® may notice some serious flaws in you home or even some basic elements that are missing. They may not bother you, but could work to your detriment when it comes to selling your home. As a result, your REALTOR® is likely to make helpful, reasonable recommendations that will enable you both market your home successfully. It’s important to keep an open mind and follow his/her advice.

Operating Costs

It’s also a good idea to have information on hand that will give the REALTOR® an idea of the costs of running your home — annual heating bills, along with documentation of any recent major repairs or upgrades — such as a new roof or new wiring or plumbing. These can be very effective marketing tools.

Clean and Clutter-Free

Before any showing or open house, it’s imperative to make sure your home is clean and uncluttered — both inside and out. Get rid of junk (don’t forget the garage) and any unpleasant odours from smoke, cooking or pets. A neat exterior is inviting and a clean and neat interior just makes good, plain marketing sense. Consider having your home painted. It’s a relatively inexpensive way to show it in its best light.

You’ll find that a team effort, combined with a realistic approach will help you market your home much more effectively.

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license. Source: Ontario Real Estate Association.

This is a 3-bedroom bungalow with a finished basement ( below). Lower level rec room with laminate flooring & gas fireplace. Laundry room / workshop with ceramic floor tiles. Lower level bathroom has step-in shower and whirlpool tub. Large eat-in kitchen with oak cupboards. Fenced back gardens with 10X12 shed. Attached garage with door into house plus carport. Located in a quiet residential area of Norwood, Ontario, walking distance to schools & shops. Easy commute to Peterborough within 30 minutes.

A REALTOR® has the experience and the knowledge to guide you through the process of buying your first home and can help take the mystery out of the many terms, phrases and clauses you will encounter.

The following glossary, an excerpt from the Ontario Real Estate Association’s “How to Buy Your Home” book, provides definitions of some of the most common real estate terms you are likely to come across.

Amortization: The number of years it takes to repay the entire amount of a mortgage.
Appraisal: An estimate of a property’s market value, used by lenders in determining the amount of the mortgage.
Appreciation: The increase of a property’s value over time.
Assessment: The value of a property set by the local municipality, for the purposes of calculating property tax.
Assumable Mortgage: A mortgage held on a property by the seller that can be taken over by the buyer, who then accepts responsibility for making the mortgage payments.
Blended Mortgage: A combination of two mortgages, one with a higher interest rate than the other, to create a new mortgage with an interest rate somewhere between the two original rates.
Blended Mortgage Payments: Equal or regular mortgage payments, consisting of both a principal and an interest component. With each successive payment, the amount applied to interest decreases and the amount applied to the principal increases, although the total payment doesn’t change. (Exception – see variable rate mortgages.)
Bridge Financing: Money borrowed against a homeowner’s equity in a property, usually for a short term, to help finance the purchase of another property or make improvements to a property being sold.
Buy-down: When the seller reduces the interest rate on a mortgage by paying the difference between the reduced rate and market rate directly to the lender or to the purchaser, in one lump sum or monthly instalments.
Closing: The real estate transaction’s completion, when the parties involved agree that all legal and financial obligations have been met, and the deed to the property is transferred from the seller to the buyer.
Conventional Mortgage: A first mortgage issued for up to 75 per cent of the property’s appraised value or purchase price, whichever is lower.
Counteroffer: One party’s written response to the other party’s offer during purchase negotiations between buyer and seller.
Debt Service Ratio:  The percentage of a borrower’s gross income that can be used for housing costs, including mortgage payment and taxes (and condominium fees, when applicable).
Deed: A legal document that conveys (transfers) ownership of a property to the buyer.
Easement: A legal right to use or cross (right-of-way) another person’s land for limited purposes. A common example is a utility company’s right to run wires or lay pipe across a property.
Encroachment: An intrusion onto an adjoining property — such as a neighbor’s fence, storage shed or overhanging roof line that partially (or even fully) intrudes onto your property.
Equity: The difference between the price for which a property can be sold and the mortgage(s) on the property. Equity is the owner’s “stake” in a property.
Foreclosure: A legal process by which the lender takes possession and ownership of a property when the borrower defaults on the mortgage obligations.
High-Ratio Mortgage: A mortgage for more than 75 per cent of a property’s appraised value or purchase price.
Land Transfer Tax: Payment to the provincial government for transferring property from the seller to the buyer.
Lien: Any legal claim against a property, filed to ensure payment of a debt.
Mortgagee: The lender.
Mortgage Insurance: Government-backed or private-backed insurance protecting the lender against the borrower’s default on high-ratio (and other types) of mortgages.
Mortgagor: The borrower.
Multiple Listing Service (MLS): A system for relaying information to REALTORS® about properties for sale.
Prepayment Privilege: A mortgage feature that allows the borrower to prepay a portion or all of the principal balance with or without penalty. This privilege is frequently restricted to specific amounts and times.
Principal: The mortgage amount initially borrowed, or the portion still owing on the mortgage. Interest is calculated on the principal amount.
Status Certificate: A written statement of a condominium unit’s current financial and legal status.
Variable-Rate Mortgage: A mortgage for which payments are fixed, but whose interest rate changes in relationship to fluctuating market interest rates. If market rates go up, a larger portion of the payment goes to interest. If rates go down, a larger portion of the payment is applied to the principal.
Vendor-Take-Back Mortgage: When sellers use their equity in a property to provide some or all of the mortgage financing in order to sell the property.
Zoning Regulations: Strict guidelines set by municipal governments regulating how a property may or may not be used.

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license. Source: Ontario Real Estate Association.

Actual (not seasonally adjusted) national sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards came in 5.9 per cent below levels reported last February. This marks the smallest year-over-year decline in nine months, and the fourth consecutive month in which sales activity was on par with the five-year average for that month.

Seasonally adjusted home sales activity edged down 1.6 per cent in February 2011compared to the previous month on a national basis. Sales activity eased in almost two-thirds of all local markets from the previous month, offsetting monthly increases in activity among other markets including Vancouver and Calgary.

Nationally, new listings in February edged up 1.5 per cent from the previous month on a seasonally adjusted basis, which builds on the 4.3 per cent monthly increase in January. The rise in new listings is consistent with CREA’s expectation that many sellers, who shied away from listing their home last summer when the national housing market softened, would list their home in early 2011, having by now observed improved demand and stable prices.

With both sales activity and new supply little changed in February, the housing market remained firmly in balanced territory. The national sales-to-new listings ratio, a measure of market balance, stood at 53.5 per cent in February. This is little changed from the previous four months.

“Most local housing markets in Canada are well balanced, but there are still a number of buyers’ and sellers’ markets,” said Georges Pahud, CREA’s President. “Housing market trends often evolve and diverge from national trends due to local factors, so buyers and sellers should consult their local REALTOR® to understand how the housing market is shaping up where they live.”

The number of months of inventory represents the number of months it takes to sell current inventory at the current rate of sales activity, and is another measure of the balance between housing supply and demand. The seasonally adjusted number of months of inventory stood at 5.7 months at the end of February on a national basis. This is little changed from the 5.5 months reported in January, when it reached the lowest level since last April.

The national average price for homes sold in February 2011 rose 8.8 per cent year-over-year to $365,192. “The average price has been skewed higher nationally and in British Columbia recently by a record number of multi-million dollar sales in a couple of areas in GreaterVancouver,” said Gregory Klump, CREA’s Chief Economist.

“When you take Vancouver out of the equation, the year-over-year increase in the national average price drops to 3.4 per cent,” added Klump. “While that’s still stronger than in the past six months or so, national average price gains may recede after tighter mortgage regulations take effect in March.”

An open house is just one aspect of an effective marketing plan your REALTOR® will develop to sell your home and one of the many services a REALTOR provides.

Tips and advice on how to get your house ready for sale are also part of a REALTORS® expertise. He or she will advise you about things like de-cluttering and depersonalizing your home as well as minor improvements such as painting and rearranging furniture. Obviously you will want to ensure your home is squeaky clean for your open house, but there are also simple touches that can make your home even more appealing.

Fresh flowers are an easy way to give your home a cheery and well looked after feeling. Invest in enough flowers to place one large bouquet for impact either in the foyer or the living room and a few smaller ones throughout the house. The scent of fresh-brewed coffee, home-made bread or cookies, can also be very welcoming. See the list below for more open house preparation tips.

REALTOR® Open House

Your REALTOR® may suggest you first hold an open house for REALTORS®. Other REALTORS® are already working with buyers who may be interested in your property and will inspect your home with their buyers in mind. An open house for REALTORS® is also more convenient for you, eliminating many of the single inspections that would otherwise be necessary.

Public Open House

You should hold at least one or more open houses for the general public as well. This type of open house tends to attract many browsers. But if your home is clean, attractive, in good repair and well-priced, it may just turn a “browser” into a buyer. Also, many purchasers want to get the “feel” of several neighborhoods before they begin working with a REALTOR®. An open house will attract these buyers.

Chances are your open house for the public will be held on a Saturday or Sunday afternoon since that’s when most people are likely to have free time for cruising around the neighborhoods they are interested in. REALTORS in Re/max Eastern Realty Inc., Brokerage are hosting 32 Open houses this weekend, March 12th and 13th in Peterborough, Ennismore, Lakefield, Millbrook, Hastings, Cavan, Trent Hills & Warkworth.  You can catch an open house at 306 Godolphin Road on the north edge of Warkworth from 1 – 3pm on Saturday afternoon.

Although you may be curious, it’s a good idea for the property owners to leave the home during an open house. Your presence could be distracting and potential buyers may rush their visit to avoid disturbing you. They may be hesitant to comment on your home while you are there, and generally feel more relaxed if the owner is not present.

Your REALTOR® may also suggest you temporarily remove any dog, cat or other family pets from the property since their presence could also be distracting.

Here are some tips from the Ontario Real Estate Association and your local REALTOR® for a successful open house:

• Remove or lock away valuables such as jewelry, cameras, compact discs, valuable coins and currency.
• Attend to any potential hazards — electrical wires crossing open areas, sharp table or counter top corners, slippery stairs and walkways, fragile items that can be easily damaged.
• In poor weather, provide a place for overshoes, boots, umbrellas and coats.
• Avoid cooking food with strong odors such as fish.
• A warm fire on a cold day can be a nice touch, but ask your REALTOR® first since he or she will have to tend to the fire in your absence.
• Spruce it up!

Often the smallest defect can be a turn-off to some potential buyers. Use this handy check list to assess what needs cleaning, mending or changing before the big day:

Floor coverings (Includes carpeting, tile, linoleum, hardwood, etc.)

• Dirty or stained?
• Worn or damaged?
• Is there hardwood under carpeting that can be restored?

Walls, ceilings, baseboards

• Any fingerprints or stains?
• Any holes, nails, tape residue?
• Are they all neutral or complimentary colors?

Doors

• Do they squeak?
• Are the handles secure and work properly?
• Any stains or other damage?

Windows

• Are they clean and crack free?
• Do they open easily?
• Are the coverings clean and also easy to open?

Lighting

• Is there sufficient light?
• Any broken switches; exposed wiring?

Pet areas

• Are these clean, organized and odor free?

Kitchen and bathrooms

• Are countertops organized?
• Are all sinks and faucets working properly?

Other rooms

• Have all areas been thoroughly vacuumed and dusted?
• Has all clutter, including excess furniture, been collected and removed?
• Are books, toys, clothes all neatly stored?
• Do mirrors look clean?
• Are window coverings open?

Outside the home

• Are all exterior surfaces, including decks, pools, walkways and driveways clean, clear of clutter and in good condition?
• Do fence and other gates open easily?
• Are the lawns mowed, walkways clear of snow, leaves removed, trees pruned, gardens weeded, hedges trimmed?

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license. Source: Ontario Real Estate Association.

Activities you can expect to do for the two day bash, include:

Catch a bus ride to the Sugar Bush:

Catch a bus ride to the Sugar Bush - Photo Credit: Ron Taylor 400eleven.com

Festival-goers have a choice of driving direct to the Sugar Bush or going from town by the free bus to the Maple woodlot where there are rides, entertainment, and of course a maple syrup fest meal of  pancakes, sausage, and freshly made maple syrup for $7 for adults, $3 for children . Sugarbush attendees  get to see how the maple syrup is collected and made – the old fashioned way in a vat over a fire and the new distillation ovens. As well there are natural trails and craft demonstrations at the sugar shack. Catch a sugarbush sleigh ride, saw contests, snowshoe races, and three legged plank races as some of the list of ongoing events.

Photo Contest at the Warkworth Library:

Come to the Library on Main St. next to the Royal Bank and enjoy a warm cup of coffee, sit and relax. Get a free copy or three of your Festival pictures printed. See past pictures of the Festival. Enter the Photo Contest for a prize of the photo editing program Photoshop Elements or a book on Photofinishing. Chat and connect on the Internet.

In-town shopping delights:

Shops in Warkworth include Scott’s Variety where you can get all your staples and snacks or browse the magazine rack with free maps, community brochures and real estate magazines of homes for sale in the area.  Stop by the community bulletin board to read ‘what’s happening’ in the area and community news updates.  By the Royal Bank, where you can get some extra cash, will be the annual Petting Zoo that thrills the kids! Continue to walk east to the elementary school for the Antiques Show. There is an Arts and Crafts sale at the Warkworth Hall.  There is a Jewelry Bazaar at the Masonic Hall, White Elephants Sale with Gingerbread Tea at the Seniors Center plus Mini Golf at St.Paul’s United Church.  Other shops in the town include a variety of boutiques, home design shops and coffee shops.

Visit an Open House:

Before you drive away for the day, maybe you will think this place is not only a nice place to visit, but you could actually live here!  There are a couple of open houses scheduled in the Warkworth area for this weekend where you should stop by to see a home for sale.  For example, from Mill Street in Warkworth, take Old Hastings Road north. Turn right on Percy Street, then turn right on Godolphin Road and travel a couple of minutes until you reach #306 Godolphin Road.  On Saturday March 12, from 1:00 pm – 3:00 pm this charming country Viceroy Bungalow will be open for viewing.  It is set on a 4.82 acre lot surrounded by a wooded back drop and the pastures and hills of Northumberland County. There is an oval-shaped above ground pool and hot-tub, detached double garage and circular driveway for added convenience. Located only 1.5 hours east of GTA.  Asking $222,000.

Astrid Hood will be your hostess at the Open House and hopes to see you there!

Below are three different home examples priced a little higher than what would be considered “starter home” prices in Northumberland County, but it could be a great next step for you!

There are many reasons why you may wish to have a larger home, including a growing family.  You may need to have more bedrooms so the kids can have their own space. Or maybe you want a larger yard, a garage or a home with a private driveway. Here is country family retreat set on 3.39 acres on the scenic Trent River near Campbellford, Ontario. This 7-bedroom, 2.5 bath, 2-storey, home with 2 double detached garages and detached workshop with hydro for all the stuff and toys that come with an large or extended family. It has a fenced above-ground swimming pool, surrounded by landscaped gardens with fruit trees and lots of storage space. Asking price: $404,900.00

Perhaps you are retiring, and do not need the extra space, but want a home with all the amenities for comfortable living to suit your new lifestyle.  Do you imagine having the options to go boating in the summer? Snowmobiling in the winter?  You can have your own in-ground swimming pool with sunroom, jet-tub with sauna and wet-bar kitchenette to entertain your friends. You can take time to enjoy relaxing gardening on an acreage or have a few spare rooms to develop a workshop or hobby room. All this is available to you in a pleasant neighbourhood located close to Campbellford’s shops, library, Hospital, and the famous WestBen Theatre.  Asking Price $399,900.00

Maybe you feel a little cramped living in town, want to get out to the country and have some space between your neighbours, but still like the idea of municipal services and living not too far from a community and its schools and amenities?   Tucked into a hardwood woodlot, this 2-BR bungalow with potential in-law suite in the lower level with kitchenette and whirlpool tub could be your retirement oasis. Located in a rural neighbourhood of tastefully designed homes, only a few minutes drive from the scenic town of Campbellford and all its amenities. The surrounding trees afford cool shade all summer and privacy from the easy access off municipally maintained roads. Natural gas service heats a cosy gas “wood-style” stove in the roomy family room. A double garage with carport and workbench, heated with an oil furnace rounds off the package. Asking price” $224,900.00

Sometimes, just moving to a different community a little further out from the city (which generally have higher starter home prices), can give you more home for a lesser asking price. Whatever your reasons, moving up or on to a new home can be very satisfying.It’s also a smart move because the equity in your home will continue to grow and the value of a bigger and better home will be ultimately greater over time. As well, the pride of ownership in a bigger house will probably be even greater than you had when you bought your first home.

When you decide that moving up is the way to go, be sure to enlist the services of a REALTOR®. Your options can be confusing at times, but a REALTOR® can help you make the right choices.

Astrid Hood of Re/max Eastern Realty Inc., Brokerage can help you determine the market value of your current home and therefore the price range you should be considering in a move up home. You’ll need to determine where you want to move. Do you want to stay in the same neighbourhood or move on? There are almost as many individual choices on location as there are homes. A REALTOR® is skilled and knowledgeable in all aspects of a real estate transaction and can ensure you make a smooth move.

Moving up or on to meet your changing lifestyle and needs can be an exhilarating experience. Your home is probably the best investment you’ll ever make so why not take advantage of current market conditions and enhance your investment today.

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license.  Source: Ontario Real Estate Association.

“While we do not expect a significant correction nationwide, the risk of such would increase, especially in some regions, if prices were to continue to outrun incomes or if interest rates were to increase rapidly,” economist Sal Guatieri says.

He notes that after slowing last summer, Canadian home sales rebounded in the fall and house prices have kept rising.

On average, home prices rose five per cent in the past year to January, while in Vancouver they rocketed 20 per cent. On average, home prices are 10 per cent higher now than they were before the recession, when they were at an all-time high. The problem is that the value of homes have increased much faster than incomes.

The bank says average home resale prices compared with personal incomes are 14 per cent above the long-run trend, up from last summer, although still below the 21 per cent peak that preceded the 1989 crash. But that is not the case in all markets. Five provinces are currently in the danger zone, led by Saskatchewan, where the ratio is 39 per cent above historic norms.

Also well-above the long-run levels is Newfoundland, 34 per cent higher; British Columbia and Manitoba, 31 per cent, and Quebec, 23 per cent above.

By comparison, in Ontario the price-to-income ratio is only 10 per cent higher than historic norms, suggesting prices are moderately overvalued but not in bubble territory. What’s made this possible have been historically low interest rates which have allowed Canadians to carry bigger mortgages. As a result, mortgage payments for the typical owner consume 35 per cent of disposable household income, about the same as the 23-year average of 34 per cent.

The bank says there should be no major correction if incomes increase faster than home prices in the future, as expected. It says sales are expected to cool and prices stabilize this year in response to higher interest rates and tighter mortgage rules that go into effect later this month.

“The risk of a correction would increase, however, if prices rose alongside rates and incomes,” the report cautions.

If prices don’t stabilize, the report says it would put the Bank of Canada in a tight spot. It risks creating a housing bubble if it keeps rates super-low too long, or could precipitate a crash if it hikes rates too quickly.

The Bank of Montreal report is the latest to throw up caution flags about the seemingly unstoppable Canadian housing market. Last month, Capital Economics warned the Canadian housing bubble was poised to burst, needing only the pin-prick of rising interest rates to set off the collapse. The economic consulting firm noted that by historical standards, almost all the key indicators around housing were at historic highs. It predicted prices could fall 25-35 per cent in the next three years once interest rates and mortgage upkeep costs begin rising.

Still, most private sector analysts see a soft landing rather than a crash, in part because the Bank of Canada is unlikely to raise rates sharply or quickly.

Advance Planning.

Planning should begin at least two months in advance. Confirm with your REALTOR® your closing date before scheduling your moving date. If you are renting, confirm your move-in date. Make a list of all records that must be transferred to a new location, such as children’s school records, and financial and medical records. Whether moving two blocks or 2,000 miles, decide what must go with you
This may be a good time for a serious cleaning of the closets or the basement where you’ve been storing your “valuables.” It can be expensive and time consuming to move things you really don’t need, or worse, to find that there’s no place to put them in your new home.If you are disposing of a large number of items, consider holding a garage or moving sale to offset some of your moving expenses. If you’re donating items to charitable organizations, ask for a receipt for tax purposes.

New Address

Send change of address cards to magazine publishers and organizations who you are affiliated. Most magazines request 4 to 6 weeks notice. Provide change of address notice on credit card bills and leave forwarding instructions with the post office. Let your friends and neighbours know your new address. This also is a good time to request help you may need with packing and moving. If you are moving yourself, schedule a moving party providing pizza and beverages for anyone who can help.

Take inventory of borrowed or lent items. Return what is not yours and retrieve your items. Mailing that hedge trimmer across the miles to its owner will be expensive as well as a nightmare to package. Dispose of flammable liquids, such as gasoline or oil. Is there gasoline in your lawn mower? Two weeks before you move, contact local utility companies to advise of a date to disconnect service. Arrange for utility service in your new home. Clear up outstanding accounts, particularly if you are leaving the area. Plan carefully for the transfer of checking and savings accounts. Open an account in advance in your new community so you have access to money, but make sure your old account stays open until all checks have cleared.

If you are driving any distance, service you car before you move. Car problems in an unfamiliar community can be troublesome. This is also a good time to make appointments with doctors and dentists arranging for a final check-up and discussion of potential problems of which to advise a new doctor.

Packing up

Begin packing early, particularly those items seldom used. If you have a hired a moving company, request boxes and packing paper. A local grocery store is a good source for boxes and packing paper. Ask for boxes in advance. Smaller stores may receive shipments only once a week and will only give away boxes if you are there at a specified time to pick them up. Collect both large and small boxes, keeping in mind that filling a large box with books or records will make moving them difficult at best.

Have plenty of packing supplies handy. Save old newspapers for packing material. For delicate items, you may want to purchase special packing boxes to materials to ensure safe moving. Be creative in your packing particularly with odd-sized or fragile items. For example, move mattresses with old sheets on them as a protection from dirt. An antique floor lamp rolled up in a rug, or a crystal decanter packed in the middle of bath towels adds increased protection.

Of course, creative packing can lead to confusion when unpacking. Make sure all boxes are clearly labeled with their contents. Mark boxes “fragile” which have breakable items. For those items too precious to risk damaging move by hand. Make a list of items to pack separately; items needed on the road (maps, prescription medicines, toys for children); items needed to settle in (cleaning supplies, light bulbs, tools); and those items you will need within the first few days of arrival (food and utensils for the first meals). Pack a suitcase which you could live out of if it should become necessary. Keep important papers such as medical records and insurance policies in one place where they can be retrieved quickly if needed.

Moving Day

When the moving day has finally arrived, makes sure someone is home to meet the mover and point out items to be loaded onto the truck. If your are handling your own move, organize loading to maximize space in the truck and to ensure that the heavy box of books does not get loaded on top of the china box. Before leaving, make a final check of all rooms, closet shelves and other spots where items may have been overlooked. Have an empty box handy for those “found items,” or items which didn’t seem to fit in anywhere else. Turn off all lights and close and lock all windows and doors. Leave your keys with the REALTOR®, Landlord or new owner.

Make sure you are there to meet the movers to avoid possible additional charges. During warm weather, have cold beverages available for movers–professionals or volunteers. Finally, don’t try to unpack everything at once. Unpacking carefully and in an organized manner, keeping in mind which boxes can be stored as they are, will save time in the long run.By following these tips, your move into a new home will be a smooth and enjoyable experience.

If you are ready to move out of your existing home or apartment, perhaps you are ready for a change of scenery at this Trent River waterfront home where you can bring your mother in-law or invite your family and friends to stay over.  The main house has a walk-out lower level in-law suite with contained kitchenette, sitting room, full bathroom and bedroom. In addition there is a 860 sq ft guest house or granny flat with a fully fenced garden, 4-pc bathroom, living room and open concept kitchen. The asking price is $399,900.

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license. Source: Ontario Real Estate Association.

Leverage
Secondary home ownership is an attractive investment option because it gives you even more leverage than you have with your principal residence. Leverage is when a relatively small amount of your money controls a much larger asset – like a property. The more leveraged you are, the greater the financial return on your down payment becomes if the value of your property increases. There are very few other investments which can be purchased with such a small percentage of your own money.

For instance, let’s say you acquire a second property for $100,000, with a $15,000 down payment, and during the first year that you own it, the property increases by a value of three per cent for a $3,000 gain. As a result, the return on your down payment of $15,000 is 20 per cent – $3,000 divided by $15,000.

Other Investments
By comparison, let’s say you were to buy a term investment of $100,000 (in cash) for one year and it increased by $8,000 over the course of the first year. Since it cost you $100,000 in cash to buy it, the return on your investment is only eight per cent before taxes. Obviously, leveraging is a powerful way to make your money work for you.

Getting Financing
You should be aware that many lenders place non-owner occupied deals in the high-risk category and it’s not that unusual to find lenders who will not finance rental units at all – or those who will only finance them if they are insured.Obviously, lenders will want to know whether the property will carry itself. (Is there sufficient rent to cover the mortgage payment?) Don’t make the mistake of assuming that a rental income of $500 per month will carry a mortgage payment of $500 per month. Only a portion of the rent is used to pay the mortgage; the remainder must cover taxes, maintenance, vacancy, bad debt and expenses.

Many inexperienced purchasers think that owning rental properties will allow them to “get rich quickly” and when this does not happen, the owner becomes disillusioned and loses interest in the property.

Costs
You should also be aware that the cost of obtaining a mortgage (for legal and appraisal fees) on a non-owner occupied property can be higher than the cost of obtaining a mortgage on an owner-occupied property, when more than one unit – such as a duplex or triplex is involved.  Interest rates charged on rental properties might also be higher because some lenders view these properties as being a higher risk.As mentioned above, the main responsibility of having a second property is being able to carry it financially. And if you’re like most people, you’ll probably have to rent it to someone as a result.

This is also a great deal of responsibility because you will have to maintain the property in addition to your own principal residence, and you’ll be responsible for finding tenants who you trust and feel comfortable with.Some parents with grown children ready to go off to university or college choose to purchase secondary properties for their offspring to live in while they attend school. This gives them an excellent investment and they are assured that the occupants will take good care of the home.

If you’d like more information about purchasing a second property, consult Astrid Hood, REALTOR® with Re/Max Eastern Realty Inc., Brokerage.  Astrid works out of Campbellford, Ontario where there are many waterfront properties available that make popular second homes for recreational purposes or to lease out to vacationers or year-round tenants.

This country retreat set on 3.39 acres on the scenic Trent River is located just south of Campbellford, Ontario.  There are 7 bedrooms, 2.5 baths, with 2 double detached garages, and detached workshop with hydro. It has a fenced above-ground swimming pool, surrounded by landscaped gardens with fruit trees, flagstone paths and gazebo. This part of the Trent is excellent for fly-fishing, or a boat launch is just down the road to enjoy 12 miles of lock-free boating. This home has several wheel chair ramps and would be a wonderful Bed and Breakfast retreat or investment for vacation rentals.  Priced at $404,999.

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license.  Source: Ontario Real Estate Association.

REALTORS® in Ontario must complete a rigorous learning program required for registration under the Real Estate and Business Brokers Act. These licensing education courses are offered by the Ontario Real Estate Association (OREA) on behalf of the Real Estate Council of Ontario (RECO) which administers the Act.

Once you have successfully completed the required courses, you must embark on a two-year, hands-on training period under the supervision of a registered broker. This part of the process is called “articling.”

But that’s not all. Even after you’ve obtained your registration, you will need to continually upgrade your skills through continuing education and professional development. Basically, a career in real estate takes perseverance, flexibility, hard work and a major investment of time and money. However, the financial and emotional rewards for your efforts can be great. There is nothing quite like the satisfaction of successfully negotiating a real estate transaction and helping to make someone’s dream of home ownership come true.

• So do you have what it takes? The following are the basic attributes a REALTOR® should possess.
• Good communication skills — especially good listening skills. This is most important in order to understand the needs of consumers and provide the best possible service. Other personal traits of a good REALTOR® are confidence, objectivity and a positive, service-oriented attitude.
• Strong negotiation skills — A REALTOR® must be able to negotiate well and in a manner that is mutually acceptable to all parties involved. In order to be a good negotiator, a REALTOR® must possess strong “people skills” and genuinely enjoy working and dealing with various types of people.
• Self-motivation — Listings don’t just appear. A REALTOR® needs to be prepared to work hard on obtaining lots of referrals in order to build a strong client base.
• Flexibility — Real estate is not a 9 to 5 job. Often REALTORS® are required to work evenings and weekends and long hours.
• Patience — Selling a house can be an emotional experience and buying can be very stressful. One of the attributes highly prized in a REALTOR® is thoroughness and attention to detail.
• Knowledge — A basic grounding in the fundamentals of math is necessary for measuring and appraising property and arranging mortgage financing. Basic computer skills and research skills are also required for access to the Multiple Listing Service and searching for legal documents.
• Ability to handle pressure — A REALTOR® needs to be able to keep many balls in the air at once such as showing properties, taking listings and handling offers.
• Trustworthiness, diligence and helpfulness — Buyers and sellers must be able to trust a REALTOR®, know that he or she has a passion for the business and that they are helpful and not intrusive.

Buying or selling a house is a complicated transaction requiring a great deal of knowledge and skill. Consumers can feel confident when they deal with a REALTOR® who is well-educated, skilled and professional that they will receive the best possible service and advice. For more information about a career in real estate visit www.orea.com.

Here is a home listed exclusively with Astrid Hood, REALTOR® with Re/Max Eastern Realty Inc., Brokerage. It is a 2 storey, 10 year old home on the Trent River at Burnt Point Bay with room for your cars and boats. A drive through double car garage and a single car garage or workshop.  Boat dock at the waterfront and scenic waterfront views from westerly windows. Asking price $299,900.

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license.  Source:  Ontario Real Estate Association.

• the price you are willing to pay
• the neighbourhood where you want to be located
• the style of home (ie: bungalow versus a 2-storey home)
• the size of lot you would prefer
• do you want an urban home with municipal services?
• or do you mind a rural home with well and septic sewer?

There may be other factors that are important to you. The more refining of your “wish list”, the narrower the search field will become. Sometimes, if there are too many requirements of your future new home, there could be very few homes left that fit your dream home image. In that case, it may be time to prioritize the “list” and you may need to be willing to accept a home that perhaps has a lovely neighbourhood even if the style isn’t what you were hoping for. Maybe it is something you can renovate or change to suit your tastes later.  This would differentiate what are your real “needs” as opposed to “wants” in your home search.

If you have a growing family, a home that has at least 3 bedrooms may be a  necessity.  This is what would be referred to as a “need” rather than just a “want”. ”Needs” are things in your new home that you must have, in order to be comfortable. According to the Ontario Real Estate Association, Step-by-Step guide for Home Buyers; “As you contemplate the kind of home to buy, your strategy should be to find a home within your price range, that fulfills all or most of your ‘needs’ and as many of your ‘wants’ as possible.”

One way to do this is to create a list for yourself of all the things you would like to have in your new home. Break your list down into different components of the house your would be looking for. The components can have headings and under each heading have sub headings of the qualities that are important. Next to each quality, mark it as a “need” or a “want”.

Below is a partial example of what  headings you could have on your needs and wantslist:

Home’s Exterior - need or want?

• large lot and yard
• detached home
• double garage
• swimming pool
• fenced back yard
• waterfront lot

Home’s Interior - need or want?

• 3 bedrooms
• 2 bathrooms
• front hall coat closet
• formal dining room
• kitchen with south window
• hardwood floors

Home’s Systems - need or want?

• Oil or gas heating
• Air Conditioning
• Municipal water
• Municipal sewer
• high-speed internet
• central vacuum

Neighbourhood - need or want?

• Quiet street
• close to shops
• close to schools
• on edge of town
• golf course
• close to hospital

Once you have your list compiled, the next step is to ask your Realtor to match the type of home you’d like to purchase with what is available on the market in the neighbourhood you are searching. You may find the style of home your are looking for with all your needs and wants, may be in a price range you are not willing to pay, and it will help you decide to move some of your “needs” into the “wants” category. You may want to do drive-by’s through the communities you like, to see the homes that are available and it will give you a feel of where you would be comfortable living.

Once you are sure that you have zeroed in to the right homes in the right geographical area, it is time to book the appointments through your Buyer Representative to actually go in and see some of them in person. At this point, it should be very evident to decide which is the right home for you.

This 2-BR bungalow may have some qualities on your wish list with a potential in-law suite in the lower level with kitchenette and whirlpool tub. Located in a rural neighbourhood of tastefully designed homes, only a few minutes drive from the scenic town of Campbellford. Priced at $224,900.00.

But home prices are also on the rise to the point where even moderate-income families — with household earnings of between $44,500 and $70,000 — are being squeezed out of the housing market.

“The cost of housing has risen dramatically and we now have levels that are approaching, or have exceeded at times, the city of Edmonton. And Alberta’s average family incomes are much, much higher than they are in Saskatchewan,” said Alan Wallace, Saskatoon’s neighbourhood planning manager.

“Prices rose so quickly that even somebody who was … able to save a down payment on a $190,000 home, now has to save much more for a $300,000 home. Even some of the entry-level product in Saskatoon starts at $270,000, so it’s a much more difficult thing to do.”

The city has decided to help with the down payment in a move it says is the first of its kind in Canada.

Council recently voted unanimously in favour of an equity building program — a five-year plan to provide low-interest loans to help people switch from rental accommodations to home ownership. The plan will allow eligible households to get about $12,000 for a down payment on a home ranging in value from $220,000 to $280,000. The aim is to help some 250 households over the life of the program.

Wallace said there are provincial programs, such as subsidized housing, to help lower income people. But there was nothing to help people in the middle.

“So a picture starts to form that people are struggling. And if they struggle long enough with inadequate, insufficient, unaffordable housing, a number of things happen which are negative,” said Wallace.

“They’ll maybe move away from the community or they will live in substandard housing — housing that is inadequate for their needs. It could be a large family that is in a two-bedroom apartment.

“The negative consequences are that people just don’t succeed in life. They don’t succeed educationally. They don’t succeed in a healthy way.”

It’s also hoped the program will free up units for lower-income renters.

Wallace said the program won’t cost the city any money if all goes according to plan. Cash for the down payments is coming from the city’s investment portfolio, not from operating revenue, and the loans will have to be repaid over five years.

“It’s not a handout. It’s not a subsidy program whatsoever.” The program will be done in partnership with the Affinity Credit Union.

Credit Union vice-president Serese Selanders said interest has “far exceeded” expectations. There were more than 150 calls in the first few days after the announcement.

“It’s kind of bittersweet,” said Selanders.

“On the one hand, we’re very excited because … this confirms that we’ve done the right thing, that we’re going to be able to meet people’s needs. On the other hand, it is somewhat sobering in that there is a huge need out there.”

The Association of Saskatchewan Realtors calls the initiative a step in the right direction for Saskatoon.

“It’s always good to be able to assist some folks in moving from rental to purchase because of the long-term benefits of home ownership, increases in net worth and those types of things,” said Bill Madder, the association’s executive vice-president. “I think it’s been shown very clearly that home ownership, if it’s attainable, is a very good step in long-term financial health for people.”

Economists and others, however, are skeptical. The Canadian Taxpayers Federation says there’s a risk that the public could be on the hook for the money.

“Our concern would be if the people don’t pay the loans back,” said Colin Craig, the federation’s Prairies director. “There have been many instances in government history where the governments have generously loaned individuals and companies money but haven’t seen it all paid back.

“The city should stick to focusing on pipes, pavement and policing.”

Eric Howe, an economics professor at the University of Saskatchewan, suggests making more homes affordable in a tight housing market will increase demand and, in the end, the program will have “no consequence whatsoever.”

“There’s a certain supply of housing in Saskatoon, a certain supply of housing you can buy, and all it will do is drive up the price of that until the mortgage program doesn’t make any difference at all,” said Howe.

“I understand that politicians want desperately to look like they’re doing good things, but I wish they wouldn’t do this sort of thing. It’s just going to somewhat distort the market.”

Howe also said it’s probable that a fraction of the loans won’t be paid back.

“If you couldn’t afford to save the down payment in five years, then why would anybody suppose you could afford to pay the down payment back in five years?

“If you can afford to save the down payment in five years, then just get your house five years from now.”

As you dream of when the snow has melted and you can get outside and feel and smell the earth again, is there a shady part of your garden that you remember was an eyesore last summer? Think about how your garden functioned over the past growing seasons and usually every home in Ontario has a north side that seems to be the forgotten area of the garden. During our hot humid summers, a shady area can be the perfect respite, but we want it to be welcoming and not just a neglected area of dark gloomy things.  Here are some ideas of what to do on the shady side of the house.

Some taller shrubby plants for along the wall as a backdrop

If it is an area of the home where not even a glint of early morning or late afternoon sun peeps around, consider some surface material edging around the home such as a layer of wood-chips, stone chips, round river rock, flat flagstones or other surfacing materials in order to create a clean edge around the foundation of your home instead of just dirt which can splash up against the house foundation and be unsightly. In this dark zone, inevitably some rugged hardy weeds or grasses will still attempt to grow here and  a hard surface will deter that kind of unwanted intruder.

Under a wood-chip or natural stone surface, a landscape filter cloth will further inhibit unwanted wild grasses as well as keep the sub soil from moving up into your decorative surface layer.  Perhaps this is the spot to build a patio or decking which can be built right up to the home to cover over the shady subsoil. Determine where the house shade line ends, and this could determine how far out to build your shady deck or patio. Beyond the shade line, is an excellent area to start planting gardens. The shade line will move as the sun progresses through the sky, so it will be shady during some parts of the day at the edges of your deck or patio.

What should we plant in our shady or partially sunny gardens?  Most plant materials are hardy to a certain zone. Anything I discuss here is suitable for the southern Ontario climate’s hardiness zones around the greater Toronto area, and a bit north, which would be zones 4 to 5. But many of us live in micro-climates where you have a certain hotspot in your gardens where you could plant a Carolinian species or that north cold side that is exposed to the winter wind chill will certainly take your garden’s hardiness down to a zone 2 where a plant material with the name “Siberian ” in front of it could survive there.

Consider the shapes of the plants you would like to plant, and their potential to grow and expand.  The are tall varieties, low growing varieties and ground covers.  In the shade, not too many blooming plant varieties survive a lack of sunlight.  You will mostly find leafy plants which tolerate shade.

Decking built with shade gardens under tall shade-producing cedars

Shade-tolerant ground covers to plant around your patio edges can include: Bugle Flower, Lily-of-the-Valley, Crown Vetch, Mock Strawberry, Colorata Euonymus, Sweet Woodruff, Wintergreen, English Ivy, Creeping Jenny, Japanese Spurge, Creeping Potentilla, Irish Moss, Periwinkles and many varieties of Hostas or they are also known as Plantain Lilies.

Some taller shrubby plants for along the wall as a backdrop, to define corners of your patio or for some privacy screening could include: False Spirea, Bridalwreth Spirea, Honeysuckles, Peashrubs, Ninebark, Azaleas, Dogwoods, Hydrangea, Elders, Serviceberries, Japanese yews.

There are many varieties of annuals that are available in the local garden centres every Spring that can add a splash of colour for the growing season. Consider planting pots that can be set out on your patio or decking for impact around the hard edges where there are no gardens.  If your patio has an awning or pergola overhead, hanging pots with trailing shade-loving vines and annuals will make the space very inviting, and no longer have a feeling of the neglected side of the house.  Some shade-tolerant annual plants you can plant in pots or around your shrubs can include: Ageratum, Coleus, Begonias, Impatiens, Lobelia, Nicotiana, Pansy and Violas.

In this photo  is an example of decking built with shade gardens under tall shade-producing cedars. This cool and inviting place is a respite in the heat of the summer.   The hard built lines are softened by an edge of different Hosta varieties and other herb annuals.  The home where this garden is located, is in a prestigious small subdivision of Bay Meadows, on the shores of the Trent River just a 5 minute drive north of picturesque Campbellford and 1.5 hours from the Greater Toronto Area.  It is listed for sale for $399,000.

Astrid Hood

Contact our Realty expert Astrid Hood

If you have any questions about locating properties in Ontario or need advise on your home’s curb appeal please feel free to contact our realty expert Astrid Hood of Remax Eastern Realty Inc., Brokerage at astridhood@remax.net or by toll free at 1-800-567-4546

• Follow Astrid on TWITTER:  http://twitter.com/AstridHoodRemax
• Visit Astrid’s Facebook page: http://facebook.com/AstridHood

Here is a partial list of some of the places you may want to venture to or google, to take in a breathtaking visual adventure:

The Grand Canyon in the USA, presents 277 miles of gold and bronze–hued landscape and is considered one of the natural world’s most gorgeous sights to behold; add a soft blue sky to the mix, and you’ve got yourself one of the world’s best views.

The Matterhorn is one of the world’s most famous mountains located in Switzerland. It rises 4478 meters high. It is not the highest mountain in Switzerland,  but the vista of this pinnacle reaching the sky creates a visual feast and desire to climb to its peak.

Visit the Sacred Valley of the Incas, also known as The Urubamba Valley or “El Valle Sagrado de los Incas”. Ancient ruins, gentle mountain slopes and scattered farming towns define the valley for a pleasing green vista.

The Black Mountains is a mountain range located in Bhutan, a small landlocked country in South Asia, located at the eastern end of the Himalayas and bordered to the south, east and west by the Republic of India and to the north by the People’s Republic of China. A landscape that varies from hilly to ruggedly mountainous invites tourists to view this majestic ancient scenery.

At the Victoria Falls in Zimbabwe, water plummets over the edge into the Zambezi River. This incredible amount of water generates a huge amount of spray which shoots 1000 feet into the sky and can be seen 30 miles away, creating a visual inspiration making this one of the greatest natural wonders of the world.

In Canada’s Province of Nova Scotia is the Bay of Fundy where 14 billion tonnes (14 cubic km) of seawater flows into the Bay’s Minas Basin twice daily. You can walk the ocean floor and visit the site of the highest recorded high to low tide range in the world. Impressive Geological formations along the shoreline can only be experienced and hard to capture in only a photograph.

Another Ontario phenomenon is Flowerpot Island, which is an island in Georgian Bay and is a part of Fathom Five National Marine Park. The island spans 2.1 km from east to west, and 1.5 km from north to south, and has a total area of 2 km² (500 acres). The name of the island comes from two rock pillars on its eastern shore, which look like flower pots and amazing to behold.

Ontario’s own, Niagara Falls, displays impressive waterfalls on the Niagara River, straddling the international border between the Canadian province of Ontario and the U.S. state of New York. The falls are 17 miles (27 km) north-northwest of Buffalo, New York and 75 miles (121 km) south-southeast of Toronto, Ontario, between the twin cities of Niagara Falls, Ontario, and Niagara Falls, New York.  Go there any day to find tourists from all over the world enjoying the view and misty spray that continually fogs the air.

One of my favorite views (see the above photo) I have recently encountered locally is from the Northumberland Hills, overlooking Rice Lake. The adjoining photo was captured as the dawn sun was rising over Rice Lake. This awesome view was from a home in Asphodel Heights, which is known as the highest home in the subdivision.  The home is currently listed for sale at $259,000.

See a video of the home and its panoramic views at http://www.astridhood.net/337IndianVideo/.

Astrid Hood

If you have any questions about locating properties in Ontario please feel free to contact our realty expert Astrid Hood of Remax Eastern Realty Inc., Brokerage at astridhood@remax.net or by toll free at 1-800-567-4546

Follow Astrid on TWITTER: http://twitter.com/AstridHoodRemax

Visit Astrid’s Facebook page: http://facebook.com/AstridHood

As you study your home, with both its quirks and its positive attributes, keep a running checklist of the charming features you’d like to preserve as well as areas that need improvement to make them more livable and acceptable to buyers who come to preview your home. Often in interior design, the focus is on the right fabric, the perfect wall treatment, the show-stopping piece of art and while these elements are important in beautifying a home, sometimes a space needs to be reworked and renovated.

The kitchen, being one of the most important architectural elements in a home is worth investing in making it a premiere space. If you can invest in some architectural updating and rearrange your walls, create one large room to encompass your kitchen as well as the family room. By creating this big family space, everyone can be comfortable and “hang out” together and even sit with you while you cook. In a traditionally designed older home, you may have to consider amalgamating existing smaller rooms such as the pantry or side sunroom or porch area.  Traditional lines don’t fit more modern furniture styles or don’t fit in current trends such as a main floor laundry room or mudroom and ample lighting opportunities.

The key to kitchen design is to treat it like a beautiful room rather than a utilitarian space.  It needs be be a place you love to work in and people love to hang out here with you. Design a space for the refrigerator, shelving, the stove and plenty of cupboard space. Modern fridges and stoves fit into the cupboard design so that they become part of the architectural features.

The  photo above is an example of a centrally located kitchen with open views to dining and living rooms as well as adjacent dining nook and sunroom. The kitchen is seen as soon as you enter the double front doors and remove your coats in the front foyer. The cook can be greeting guests as they enter the warm and inviting home as she tends to her menu at work. The kitchen area is raised next to a sunken living area, and a few steps down to the entry foyer.  The raised kitchen makes it even more central and visually dominant to the home’s layout.

The gleaming granite counter tops and Florida ceiling lights create a bright atmosphere. An open ended work space with island counters allow traffic to flow through this area to all parts of the home. A neutral colour palette with earthy architectural materials such a dark granite counters, rugged brickwork around the built-in appliances and light hughes of maple wood cabinets make this space inviting, and cozy even if it is open-concept and airy. The result is pure bliss for a family who often entertains as well as gathers and relaxes in this combination family/kitchen area. This kitchen is found in a log home estate available for sale for $850,000 in Marmora, Ontario.

Astrid Hood

If you have any questions about locating properties in Ontario please feel free to contact our realty expert Astrid Hood of Remax Eastern Realty Inc., Brokerage at astridhood@remax.net or by toll free at 1-800-567-4546

Follow Astrid on TWITTER: http://twitter.com/AstridHoodRemax
Visit Astrid’s Facebook page: http://facebook.com/AstridHood

As a buyer approaches your home, first impressions count! Re/max has learned that landscaping the front  of your home will give you a 7% better return on your renovating dollar over the average return on other popular home renos.  According to Re/max in `Smart Renos Payback`,increasing your curb appeal can be as simple as adding containers of brightly coloured flowers. Another idea would be to add a low maintenance garden for blocks of colour and texture.  You could also consider a simple water feature either in the front or back yard to add ambiance.

A minimum suggestion to improve your curb appeal, according to the Ontario Real Estate Association, in a step-by-step guide for home-owners, “How to Sell Your Home”, would be to weed your flower beds, remove dead tree limbs, keep your lawn well mowed and edged, trim the hedges, rake the leaves, sweep the sidewalks, fix and paint the deck or fence, plant a few flowers, and do anything else you can to enhance your home’s curb appeal. In the winter, shovel the sidewalks and driveway regularly and make sure there’s no ice for your prospective buyers to slip on.

For most of us, our home is a major investment and we should consider doing more than just a minimal sweeping to the entrance landscaping. That fist step onto the walkway leading to your front door, or the first turn onto your driveway is an extension from your home as your visitor is greeted by your property’s ambiance. Consider your entrance foyer actually beginning at your front curb.

Use the front walkway in a pleasing way using fluid lines, to lead the buyer

Many factors come into play as you plan that front garden landscape.  Landscaping combines elements to create a functional yet visually pleasing extension of indoor living to the outdoors. Landscape design principals take into consideration elements such as line, form, colour combinations, design rhythm, the design focus, texture of your design elements, the scale next to the home, unity and balance all effect the final layout. For an entry landscape, an important feature will be the transition from the curb to your home, which we will consider the focal point in this case.  We want to lead the buyers’ eyes from your inviting landscape to the home that they will consider to purchase!

Moving from outside in, is called a transition.  Transition can be accentuated with plant materials aligned along the pathway. Using taller to shorter plants, using textural changes from coarser to finer materials, which assists the the gradual movement of the viewer’s eye within the design and to the focal point – your home’s entrance door. A garden path that leads a viewer past garden details, makes it an intriguing walk and peaks the curiosity of the visitor to move forward and find out what is beyond the next ‘garden door’. Use the front walkway in a pleasing way using fluid lines, to lead the buyer and encourage them to easily move from their car to your front porch. If the walkway is in an awkward location and not aligned with the opening of a car door, it creates an emotional barrier to the visitor as they try to determine which way to go to find your home’s entry.

Elements of landscape design are displayed by fluid lines

In the photo above  elements of landscape design are displayed by fluid lines, form, texture and hot colours with plant material to attract the buyer’s eyes to the front of the home, and encourage their curiosity to want to move forward and see what goes beyond the landscape that frames the front entry approach. This home is country family retreat set on 3.39 acres on the scenic Trent River by Meyersburg. This 7-bedroom, 2.5 bath, 2-storey, home with 2 double detached garages, and detached workshop with hydro has a fenced above-ground swimming pool is surrounded by landscaped gardens with fruit trees, flagstone paths and gazebo and is for sale for $404,999.

Our realty expert Astrid Hood

If you have any questions about locating properties in Ontario or need advise on your home’s curb appeal please feel free to contact our realty expert Astrid Hood of Remax Eastern Realty Inc., Brokerage at astridhood@remax.net or by toll free at 1-800-567-4546

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Each heat source has its advantages and disadvantages and the cost often depends on the state of the economy and the cost of oil at the time. The best thing to do is to have two or more different heat sources in your home to offset the one that is most expensive at the time.

The old oil furnace is being phased out with lighter, cheaper heating models. Oil tanks are considered environmentally risky in case of leaks, need to be upgraded to be insurable every 15 years and if not stored outside, leave a residue fuel smell inside the home. You can get fireplaces that connect to your oil tank for an additional heat source besides the central furnace heat.

Electric heat is clean, has no smell, is quiet and easy to use.  An electric fireplace is easy to plug in wherever you have an electric outlet to create instant ambiance in a room.  This is a simulated fireplace experience, and is really a fancy electric heater for a room that could use supplementary heat.  If you move from your home, this type of ‘fireplace’ is considered furniture and you can take it with you and plug it in at your new house!  There are many smart-looking electric “fireplaces’ with polished wood frames and mantels you can shop for at the local furniture store.

A traditional fireplace that requires a chimney is not considered the most efficient type of heat for a home

A traditional fireplace that requires a chimney is not considered the most efficient type of heat for a home, but often considered the most romantic and visually appealing. Modern wood fireplaces now have built-in fans to distribute the heat into the room rather than losing it up the chimney.  And modern wood-stoves are built to radiate heat in the home. The most attractive classic fireplace would be a natural stone, floor-to-ceiling architectural element with large wood mantelpiece that dominates a room.

This fieldstone fireplace is located in an Ontario open-concept home with great-room, which allows plenty of height and space to display the centrally located two-sided wood fireplace. An additional wood fireplace is located in the lower level to take advantage of the massive chimney built through the home. The home is available for sale at $389,000.

Many other types of heaters, try to mimic the wood fireplace or wood-stove “look” and ambiance. If you live in a municipality that offers natural gas lines, then it would be advantageous to connect to this source. Newer high-efficiency gas furnaces or stoves don’t need a chimney but can exhaust from a side wall vent, need a draft hood, electric ignition and powered exhaust system.

You can install a compact natural gas fireplace model or one that looks like a ‘wood-style’ stove.  If there is no natural gas line installed in your area, as most rural areas in Ontario don’t, then we often see propane cylinders and tanks set just outside the home for the interior gas stove. The propane tanks are refilled by a gas truck a few times through the year as required.

This wood-style gas stove is located in an Ontario bungalow originally designed to be heated with electric baseboard heaters

This style of gas stove creates an ambiance in the family room as if it were a wood stove, but there is no no mess or chores to lug in wood logs from the outdoors. This supplemental heat source is from municipal natural gas lines, for a consistent fuel source for clean and efficient heat and has enhanced the home’s value which is currently for sale at $224,900.

Astrid Hood

If you have any questions about locating properties in Ontario please feel free to contact our realty expert Astrid Hood of Remax Eastern Realty Inc., Brokerage at astridhood@remax.net or by toll free at 1-800-567-4546

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Nina Callaway, a writer and event planner who has guided many couples through the process of wedding planning, has developed tips for avoiding outdoor wedding pitfalls.

Some of her advice includes:

• Make sure your guests will be comfortable by providing shade umbrellas, or awnings.  Have bottles of water available or hand out paper fans for those hot days. The climate during June in Ontario is usually moderate and usually not too hot or too cold during midday.  But it is wise to be prepared for all possibilities.
• Have a back-up plan in case it rains. A sturdy tent that will withstand a windy rainstorm will also be welcomed on a sunny hot day when guests look for shade. If there is no tent, an indoor back up location is a good plan to scoot the tables and chairs indoors during a sudden downpour.
• Plan for wind. Many light summery fabrics will end up floating like billowing parachutes and loose hair will find its own unkempt setting.  Nina suggests women plan a style that won’t leave you looking like Cousin It! Men in the wedding party should use pomade or other styling product.
• 

  Wedding party under archway

  Look into a sound system. If your wedding will incorporate a guest list and rows of seating, the group gathered will most likely not be within ear-shot of the ceremonial reciting. The great outdoors has a way of absorbing and losing sounds.  And if there is a backdrop of lapping waves, or wind rustling through the trees, voices will end up being drowned out.

• Enhance the outdoor beauty with decorating and landscaping. Visit the site a week before your wedding to make sure the grass is mown, the ground raked, and the flowers have bloomed.  Other decorations you may want to consider include an arch or trellis to focus the ceremony and frame the bride and groom as they say their vows; strings of lights or lanterns in the trees; luminarias; torches; or farolitas. Control pesky flying things with citronella candles or a bug zapper.
• Consider how the caterer will serve the wedding dinner outside. A sit-down dinner with table cloths and centre pieces create an elegant atmosphere in the out-of-doors.  Be sure there are foods that are compatible to being served outdoors. Have plenty of ice and water around as well. For a fancy cocktail, why not serve a classic mint julep or a mojito? The mint will refresh and cool your guests.
• 

  Attractive table settings

  Find that special location that has the scenic Ontario backdrop you will cherish as it is captured in your wedding photo album forever. There are city and Provincial parks that may need a permit for wedding photography, as well as there are banquet halls and resorts with outdoor gardens especially designed for your special day.

The property where these wedding photos were captured is located in Marmora, Ontario and is available for sale for $850,000.

Astrid Hood

If you have any questions about locating properties in Ontario please feel free to contact our realty expert Astrid Hood of Remax Eastern Realty Inc., Brokerage at astridhood@remax.net or by toll free at 1-800-567-4546

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Their dream was to retire

Their dream was to retire, sell the large luxury home, and purchase a more modest bungalow in Ontario for summer-time living and also purchase a cosy bungalow in Florida for six months of the year during Canada’s snowy winters.

After listing their home for a few months, an open house and several showings later, a buyer came along for us. Cliff and Kathy began shopping for their new homes, and in particular were now growing wings to officially become Snowbirds!

The mobile home they selected for their winter roost is located in Parrish/Bradenton Florida and known as The Gardens (www.lorsam.com).

I recently chatted with them and asked them a few questions I thought would be of interest to others who may be dreaming of becoming Snowbirds during this January cold snap:

Q. How did you find your Florida Home?

A. We searched the Internet

Q. Are there additional expenses, fees or taxes as a Canadian resident in Florida?

A.Taxes are the same as any American purchasing a home

Q. How do you feel about the annual drive down to and back from Florida?

A. It is like any two day drive which can be tiring and timing is everything.  We travel on Saturday and Sunday as there is less truck traffic.

Q. What do you do to prepare your homes before you leave?

A. Up North…turn water off.  Put telephone, Internet, Cable on vacation for the duration (minimum of three months) Arrange for mail pick up and have our house checked weekly.

South…turn water off.  Telephone etc. on vacation.  Put bleach in toilets cover with saran wrap so the water does not evaporate in the heat.  Arrange for outside maintenance and pest control. Redirect Us mail to Canada at no charge. Arrange for weekly checks on the house.

Q. How long do you stay at each home?

A. Six months in florida and six months in Canda.

Q. Are you well-recieved as a Canadian Snowbird in Florida?

A. Absolutlely

Q. What tips would you give to anybody considering being a Snowbird?

A. Check the area you are considering extensively (Is it a vacation destination or residentiial)

Q.. What do you miss about Canada when you are in Florida?

A. Tim Hortons not the snow

Q . In your opinion, is it a good time for Canadians to buy a Florida home?

A. Absolutely. Due to the depressed real estate market and value of the Canadian dollar

Q. What is your favourite thing about living in Florida in the winter?

A. No snow.  New people great friends cheap liquor.

With an International Real Estate Specialist designation (I.R.E.S.) I have contacts in different parts of the world, inlcuding Florida, where I can refer buyers in Ontario looking for a winter vacation investment.

Asking price, $179,900 U.S.

My Florida real estate contacts are ready to take care of any Snowbirds ready to escape the Canadian chill.

For example, this Rotonda West canal home built by Newport Homes is the Parade Model and was a model home. It has great curb appeal, includes a canal lot, mature landscaping front and back and has southern rear exposure.

This home is bright, spacious and in immaculate condition. Popular Rotonda West is well located within minutes of dozens of golf courses, gorgeous beaches, world class fishing and boating, shopping, restaurants and an easy drive to Busch Gardens or Disney parks.

Great vacation, part-time or permanent location. Asking price, $179,900 U.S.

If you have any questions about locating properties in Ontario or Florida please feel free to contact our realty expert Astrid Hood of Remax Eastern Realty Inc., Brokerage at

Astrid Hood Realtor

astridhood@remax.net or by toll free at 1-800-567-4546

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The change would add 100 per cent of condo fees to the expenses considered when a buyer is applying for a mortgage. Currently, only 50 per cent of the fee is considered. Toronto realtor Brad Lamb says the move is going to push a lot of people out of the market.

“A lot of people are going to get locked out of buying a condo, which, in most cities in Canada, is the most affordable option for housing,” he said. “It’s a terrible idea.”

The maximum length of a mortgage could also come down from 35 years to 30.

“You’re talking $150 to $200 more per month, which works out to $40,000 in purchase price,” Lamb said.

Craig Alexander with TD Bank says the new rules might not take people out of the market completely.

“It really wouldn’t take people out of the market. It would mean people would end up taking a lower mortgage and buying a lower-priced house,” he said.

Prime Minister Stephen Harper acknowledged the rumours of the new rules.

“The government remains concerned about growth and the level of household debt, and will look at taking prudent steps to moderate that growth,” he told reporters. “We’ve seen some moderation recently.”

There is also speculation the government might increase the minimum downpayment required. Currently it is five per cent.

Traditionally, the Spring months (March, April, May) in our 4-season climate, are when home-buyers are ready to venture out on the roads, and begin trecking around to find new homes to move into. Often, the Spring buyer would like to have the sale done by the end of June, in time for summer vacation and to be all settled before the kids are ready to start their new school. This, being the average pattern of most people, also creates a bit of a surge in activity with many sellers submitting listings in the Spring knowing there will be buyers actively shopping in the warming weather.

When the market is full of homes to sell, that creates more competition betwween individual sellers, and will create what is known as the “buyer’s” market.  With many homes listed for sale, buyers will have an advantage to compare listings and have more leverage to negotiate. The seller will be less likely to stand firm on the asking price if the buyer can say they have another similar home in mind during the negotiations. In January, you can hope for more qualified buyers with less competition which would mean a better chance you will sell your house.

There are, in fact, people searching for homes all year round, and we don’t need to wait for the Spring “glut”. Sometimes, with the nice weather, you may get people out who simply enjoy the past-time of viewing homes and attending open houses, to see what is available in a certain neighborhood, or see what their neighbor’s house looks like inside or to get decorating ideas! Not all fair-weather home viewers are necessarily serious buyers and are sometimes referred to as “tire-kickers”. At this time of year, those who are willing to venture out in minus 20 C temperatures and slosh through snow drifts will be more serious buyers than those in Spring.

This January 2011, we are starting off strong with what seems to be a more active than usual real estate market during our Canadian winter. Traditionally there are not too many phone calls or requests for showings in the midst of these short days of the year,  but this month I have had several requests for showings in sub zero weather: at waterfront cottages with no heat or plumbing switched on;  I met buyers on the crest of a hill-top vacant lot with the brisk wind-chill creating an ache on my face as we tearily blink at the amazing views over a frozen Rice Lake; I have asked home sellers to please keep their walks and porches shoveled of snow to allow a pleasant winter curb-appeal for showing requests.

According to the Canadian Real Estate Association (CREA) News Release on January 14, 2011, activity in December 2010 ran slightly ahead of the ten year average for the month. “The hand off to 2011 for sales activity in the fourth quarter suggests that the continuation of low interest rates will further support the housing market,” said Gregory Klump, CREA’s Chief Economist.

“With activity having returned to healthy levels and a firm floor under prices, many sellers who shied away from the market heading into the summer are expected to list their properties heading into the spring,” said Klump.

Asking price $224,900

With a confident forcast for 2011, based on a strong end to the year 2010, it would seem that the early bird seller would do well to beat the Spring rush, and list their home with a REALTOR® who is ready to market the home to the serious buyers that are already shopping.  Here is a Campbellford bungalow that was listed on a Tuesday in January this year, and there was a showing scheduled the following weekend!  Tucked into a hardwood woodlot, this 2-BR bungalow with potential in-law suite in the lower level with kitchenette and whirlpool tub could be your retirement oasis. The home is located in a rural neighbourhood of tastefully designed homes, only a few minutes drive from the scenic town of Campbellford and all its amenities. The surrounding trees afford cool shade all summer and privacy from the easy access off municipally maintained roads. A natural gas service heats a cosy gas “wood-style” stove in the roomy family room. A double garage with carport and workbench, heated with an oil furnace rounds off the package. Asking price $224,900. See the YouTube video here:

Astrid Hood of Remax Eastern Realty Inc

If you have any questions about locating properties in Ontario please feel free to contact our realty expert Astrid Hood of Remax Eastern Realty Inc., Brokerage at

astridhood@remax.net or by toll free at 1-800-567-4546

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Actual (not seasonally adjusted) national sales activity via the Multiple Listing Service^® (MLS^®) Systems of Canadian real estate Boards was down 14.4 per cent on a year-over-year basis in December 2010, which reflects record level sales for the month of December in 2009.  Activity in December 2010 ran slightly ahead of the ten year average for the month

The national trend for monthly sales remained stable in December, with seasonally adjusted sales activity having edged down by less than a percentage point from the previous month.  Led by Calgary, Winnipeg, and Hamilton-Burlington, seasonally adjusted sales activity was up month-to-month in half of local markets. Toronto, Vancouver, and Montreal were among the markets that posted a small month-over-month decline in December.

“Overall sales activity has improved in recent months, but the upturn has been uneven among local markets,” said Georges Pahud, CREA President. “Housing market trends often differ due to a number of local factors, so buyers and sellers should consult their local  expert to understand how trends are shaping up in their market.”

National home sales activity improved steadily over the second half of 2010, with seasonally adjusted sales up 18.3 per cent in December compared to the recent low reached in July. As a result, seasonally adjusted activity in the fourth quarter of 2010 rose 12.1 per cent from third quarter levels, and was up less than a percentage point compared to second quarter activity.

“The hand off to 2011 for sales activity in the fourth quarter suggests that the continuation of low interest rates will further support the housing market,” said Gregory Klump, CREA’s Chief Economist. “Sales may be starting to plateau in some of Canada’s most active and expensive housing markets.  Combined with a pickup in new listings and further interest rate increases, the stage is being set for smaller price gains and a further deceleration in the growth of mortgage debt.”

Some 447,010 homes traded hands over Canadian MLS^® Systems in 2010, down 3.9 per cent from 2009. Annual sales activity was higher than CREA had forecast previously due to stronger than projected sales activity in the fourth quarter.

The number of new residential listings on Canadian MLS^® Systems held steady in December, rising by less than one percentage point on a seasonally adjusted basis. New listings remain 14.2 per cent below the recent peak reached in April 2010.

The housing market remained in balanced territory on a national basis in December, with sales as a percentage of new listings amounting to 55.2 per cent. Just over half of local markets in Canada were in balanced territory in December.

Three-quarters of the remaining local markets are sellers’ markets.  “With activity having returned to healthy levels and a firm floor under prices, many sellers who shied away from the market heading into the summer are expected to list their properties heading into the spring,” said Klump. “Sales in the months ahead are not expected to continue trending upward as steeply as they have in recent months, so an increase in new listings may return many sellers markets to balanced territory.”

The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and can be used to gauge the balance between housing supply and demand. The seasonally adjusted number of months of inventory stood at 5.8 months at the end of December on a national basis. This was unchanged from November, and remains 1.4 months below where it was in July.

The number of months of inventory in December rose compared to November levels in British Columbia, Saskatchewan, Quebec, New Brunswick and Nova Scotia, and was down from the previous month in Alberta, Manitoba, Ontario and Prince Edward Island.

The national average price for homes sold in December 2010 was $344,551, up two per cent from the same month last year, and stable compared to average price in October and November. About 60 per cent of local markets recorded year-over-year gains in December. Average price was down on a year-over-year basis in 30 per cent of local markets, and remained stable in the remainder.

The annual average price for homes sold via Canadian MLS^® Systems rose 5.8 per cent to $339,030.  Much of the increase reflects compositional factors within and across housing markets that caused average price to be skewed downward in 2009.

However, hot tubs can be used year-round under properly maintained conditions. The comfortable temperatures seen during summer months still produce many cool Canadian summer evenings, where home owners incorporate hot tubs in their home environments. The insulated models available for our northern climate can be left running all 4 seasons.  The water heat can be turned up to high heat, for frigid days and nights and turned down to a comfortable tepid temperature for cool midsummer evenings.

Soaking yourself in the rolling, bubbling hot waters

The Scandinavian tradition of hot baths blends well in Canada.  Soaking yourself in the rolling, bubbling hot waters cause surface blood vessels to dilate, increases blood flow to the skin, raises body temperature and cleanses the skin.  According to Scandinave Spa Resorts located in Whistler B.C., Mont Tremblant Quebec, or Blue Mountain Ontario, in addition to cleansing the body, the massaging jets in a hot tub stimulate blood circulation and release endorphins. All of the senses are awakened; muscles are soothed and a general sensation of well-being washes over you. The second stage in a resort spa consists of closing the pores of the skin with a brief, but highly beneficial , cool water in a shower, waterfall or cool bath.  In a Canadian back yard spa, a roll in the snow works wonders to cool down the body!

The investment for a hot tub is only a fraction of an in-ground or above gound pool and is not likely to deter a buyer from putting in an offer on your home if all else is satisfactory.  Many models are portable and could be considered a chattel, meaning it can be a negotiable item to be either included or excluded from the purchase price of the home.  Sellers can decide to not include their hotubs in the home sale, and take it with them to their new home.  But the properly installed and designed spa area, in your own outdoor personal  garden spa should include the hot tub as part of the home’s layout and would be considered inseperable. Good landscaping always adds to a home’s resale value, and incorporating your hot tub spa space as part of the landscape will create an inviting outdoor area to excite buyers into liking what they see.

The hot tub is set on decking only a few chilly steps away from a home entrance

An example of a well-designed home oudoor hot tub spa, is seen in the photo.  The hot tub is set on decking only a few chilly steps away from a home entrance. The cedar plank decking lets any water splashes to run between the floor planks and decking will prevent anything being carried onto the tub from the feet.  There is a matching set of cedar steps to help get up into the tub.  An overhead pergola prevents snow fall from piling up on the hot tub cover, shelters the users from rain and keeps the tub shaded in the summer.   Of course the surrounding scenery should be a major consideration when situating your hot tub to maintain a soothing atmosphere as part of your relaxing experience..  The scenery here set amongst the wooded shoreline of Crowe River can’t be beat!  This hot tub is located at a luxury log home for sale in Mamora, Ontario, and the entire estate with hot tub can be yours to purchase for $850,000.

Astrid Hood

If you have any questions about locating properties in Ontario please feel free to contact our realty expert Astrid Hood of Remax Eastern Realty Inc., Brokerage at astridhood@remax.net or by toll free at 1-800-567-4546

Follow Astrid on TWITTER:  http://twitter.com/AstridHoodRemax

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What are the benefits to home ownership?

1.  If you’ve managed to save enough for a decent sized deposit, then your monthly payments could be less than the cost of rent.

2. Holding a mortgage is an investment to property ownership rather than payments that are not building equity.

3. Ownership of real estate, if you can hold it long enough, usually produces an increase in your investment.  Even if markets go down, the cycle traditionally heads up again.

4. If you have to move before reselling can happen, you can rent out your property for a monthly fee to cover your mortgage payments and maintenance costs.

5.  Renovations or  home improvements usually give you increase to your home’s future resale price as part of your investment.

6. As a home owner, you can knock down walls, own pets, smoke if you want and generally be your own boss.

What are the benefits to renting a house?

1. No large deposit  required.  Usually only the first and last month’s rent is expected before you move in.

2. When buying a home, the mortgage monthly payments could be greater than the cost of rent and may be harder to carry than rent.

3. No mortgage approvals required.  As long as you can prove you can make the monthly payments, you should be approved to be a tenant.

4. You can arrange for monthly or a short-term lease in case you find a job in another location or decide the neighbourhood you have intially selected does not feel like home.

5. All homes require upkeep and maintenance. In Ontario the home’s maintenance is the job of the landlord.

6. As a renter you have the right to quiet enjoyment of the home and the landlord needs permission before entering the premises.

The rental price is $1,000.00 per month.

As a REALTOR, I would want to help you find a home to purchase in the neighbourhood of your choice, but it is my job to help you decide what is the best move for you in your circumstance. Real estate brokerages have sales listings as well as homes for lease. For example, if you were to move to Campbellford, an Ontario town just east of Toronto, there is a waterfront bungalow for lease close to the town’s shops and all amenities.

There is a great water view from the large living room windows, plus patio doors to the rear deck. 3 bedrooms, 4-piece and 2-piece bathrooms, full basement plus main floor laundry hookup. Attached garage, freshly renovated and newer laminate flooring. Hydro, cable, water/sewer and telephone not included in rental fee. Landlord is willing to apply for a zoning change to commercial for a commercial renter. Large front lot with easy access off Front Street, would make ideal parking area for a business. The rental price is $1,000.00 per month.

Astrid Hood of Remax Eastern Realty Inc

If you have any questions about locating properties in Ontario please feel free to contact our realty expert Astrid Hood of Remax Eastern Realty Inc., Brokerage at astridhood@remax.net or by toll free at 1-800-567-4546

Follow Astrid on TWITTER:  http://twitter.com/AstridHoodRemax
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The low cost of borrowing stimulated the housing market in 2010, and this trend is predicted to continue in the first half of 2011. The widely held consumer belief that rates will rise in the latter part of 2011 may prompt an increase in buying activity early in the year.

“Trends in the housing market continue to be driven by the lingering after-effects of the recession, Canadians realize that interest rates are unsustainably low and that homes will become effectively more expensive when mortgage rates return to normal levels.  We will likely see more price appreciation early in 2011 as some buyers complete transactions in advance of anticipated higher borrowing costs.” said a spokesperson

He went on to add, “2011 is expected to unfold much like 2010, when close to 60 per cent of sales volume occurred in the first half of the year in anticipation of interest rate increases that never materialized. However, housing market activity in the first half of 2011 will be modestly closer to the norm, as last year’s phenomenon was exacerbated by mid-year tightening of mortgage accessibility and the introduction of HST in Ontario and British Columbia.”

Canadian housing market looking strong moving into 2011

Regionally, the strongest price appreciation of the cities studied is expected in mid-sized urban centers where affordability is better than the national average. For example, in Winnipeg, St. John’s and Fredericton, two-storey homes below $300,000 are still widely available. Demand in these cities is expected to be strong, putting upward pressure on home values.

Click here to view the typical house price chart

Cities in Alberta are expected to be among Canada’s strongest performing markets in 2011. Woes in the historically volatile region’s housing market stretch approximately five years, when the Alberta housing market suffered a sharp correction following several years of double-digit price increases.  The province’s energy-driven economy staged a comeback in 2010, recovering from the recession-led plunge in oil and gas prices.  Major employers are expected to steadily increase hiring in 2011 which should attract new residents to the province and put upward pressure on the limited supply of housing. Royal LePage forecasts the average price of a home in Calgary will increase 5.4 per cent through 2011 while Edmonton home prices will increase 3.3 per cent. Home sale transactions are predicted to rise 6.7 per cent in Calgary and 9.1 per cent in Edmonton over the same period.

Across Canada, the average price of a home is forecast to rise 3 per cent over the coming year to $348,600 while the number of transactions is expected to drop 2 per cent.

During the fourth quarter of 2010, average home prices either increased or stabilized year-over-year, with Winnipeg, Ottawa, Montreal and St. John’s seeing the biggest gains.  Nationally, the average price of detached bungalows rose to $324,531 (up 4.6 per cent), the price of standard two-storey homes rose to $360,329 (up 4.4 per cent), and the price of standard condominiums rose to $226,746 (up 3.9 per cent), compared to the fourth quarter of 2009.

The spokesman continued, “Like many Canadians, we anticipated an end to the ultra-low interest rate era before year-end 2010.  Paradoxically, global economic weakness, particularly in the United States, allowed policy makers and financial institutions to keep borrowing costs low, resulting in a stronger Canadian housing market and a better than forecast fourth quarter.”

Regional Market Summaries

The residential real estate in market in St. John’s, Newfoundland saw strong year-over-year price gains across all three housing types surveyed every quarter this year. However, market has showed signs of cooling as inventory starts to rise.

Detached bungalows and two-storey houses in Montreal saw an 8.7 per cent year-over-year increase in the fourth quarter, while standard condominiums jumped 11.3 per cent. Average prices in Montreal are forecast to increase by a more modest 3 per cent in 2011 as a more balanced market emerges.

Ottawa’s housing market saw year-over-year price appreciation ranging between 6.3 and 10 per cent across all housing types surveyed this quarter. However, as inventory grows, Ottawa can expect price increases to be closer to 4 percent in 2011.

House prices surveyed in Toronto increased modestly year-over-year. Standard two-storey homes witnessed the largest increases at 5.6 per cent. Market activity slowed in the second half of the year as buyers rushed to the market in the first half of the year in anticipation of interest rate hikes and HST.  For 2011, price increases are expected to be very modest at approximately 1 per cent.

Detached bungalows, standard two-storey homes, and standard condominiums inWinnipeg witnessed strong year-over-year price gains this quarter. Detached bungalows performed the strongest, increasing 10.3 per cent compared to the fourth quarter of 2009. Although the market is showing signs of cooling, sellers are still seeing multiple offers and are often receiving higher than their asking price. Winnipeg is expected to maintain its momentum throughout 2011 with prices rising around 7 per cent.

Single family homes performed best in Regina, which saw standard two-storey homes increase 9.1 per cent, while detached bungalows rose 8.4% and standard condominiums increased 2.4 per cent. Prices in Regina are expected to increase an overall average of 5 percent in 2011.

Both Calgary and Edmonton are positioned for house price increases in 2011 with a rebounding energy sector. In 2010, Calgary witnessed moderate year-over-year price depreciation across all housing types surveyed. Edmonton saw more modest price depreciation for two-storey houses, while condominiums decreased 5.7 per cent. Detached bungalows witnessed the only price increase among housing types surveyed at 1.2 per cent.

Single family homes in Vancouver dominated house price gains as two-storey houses rose year-over-year by 9.8 per cent in 2010. Condominiums on the East Side performed particularly well and, on average, Vancouver’s standard condominium market rose 7 per cent.  Vancouver prices are expected to increase 3.7 per cent in 2011.

The quarterly House Price Survey shows the annual change of prices for key housing segments in select national markets.

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A condominium offers ownership of your own unit but with usually a monthly fee, you are afforded the luxury of having common elements, as a tenant-in-common, maintained by the superintendent or property manager.  Each tenant-in-common is entitled to the same rights over the common property elements and use of the whole property.  It is only their individual units that is for the owners’ exclusive use. As discussed in Muchmor Magazine’s article “Condominiums, types, styles and how to choose the one that’s right for you“, the author pointed out, “there are almost as many types of condos as there are kinds of people who want to live in them. Residential condominiums can range from high- and low- rise apartment buildings to townhouses, duplexes, triplexes, single detached homes, freehold plots or even mixed-use condominiums that include retail or commercial space.

For example, there is a condo bungalow being offered in Peterborough’s desirable Westview Village, developed, designed and built by Award Winning Geertsma Homes. It features an open concept kitchen, living room features vaulted ceilings, pot lights and good quality carpet and vinyl. Spacious master bedroom with walk-in closet and full en-suite, den or 2nd bedroom with bay window, main floor laundry, 2nd bathroom and garage man door to house. Full unspoiled basement. Paved driveway, and well designed deck off living room. the home is described as bright and cheery and offers plenty of space for retirees or single person at an asking price of $275,500, annual taxes of $3,000 and monthly condo fees of $215.

A one & half style home is listed in a small community of condominium townhouses in Peterborough geared to the active adult lifestyle. The main floor of this home features a separate dining room, an open concept kitchen/family room with cathedral ceilings, master bedroom with en-suite, laundry and a 2 piece bath. Upstairs there is an amazing loft area that overlooks the family room, another bedroom and 4 piece bath. Asking price for this condominium is $278,999 with annual taxes of $3,300 and monthly fee of $218.

A uniquely designed one-level dwelling with four apartments for adult lifestyle living is listed in Hastings, Ontario within walking distance to the Trent River waterfront park and marina. The condo unit offers 750 square feet of living space with additional 750 square feet of storage space, 2 bedrooms, combo living/dining room and 4 piece bath. There is a central common area, main floor laundry, paved designated outdoor parking space and private patio with separate entrance for each unit. The asking price for ground level each apartment unit is an affordable $134,900  with taxes around $1,200 per year and monthly fees around $200 per month.

A comfortable mobile home surrounded by a deciduous wood lot

A non-conventional condominium-type of ownership is available in a recreational property north of Campbellford, Ontario.  A comfortable mobile home surrounded by a deciduous wood lot, with all the amenities including a septic system, hydro, propane tank and appliances is waiting for you for summer fun and relaxation.

Nature abounds with wildflowers, shade trees and the Crowe River for swimming, fishing and boating a short stroll down Trillium Trail. The price includes exclusive use of a 75 by 100 foot lot, the mobile home, aluminum boat, motor and some gardening tools. The common elements of this listing encompass the surrounding parklands, the private road access which is maintained and plowed in the winter by the management and the Crowe River waterfront is available for boat launching and swimming.

There is a nature trail all along the approximately 1,000 feet of shoreline for all common residents to enjoy. The asking price for this package is only $27,500 with annual taxes of just $30 with no monthly fees but a single annual maintenance fee of $255!

My contact Information:

Astrid Hood of Remax Eastern Realty Inc

If you have any questions about locating properties in Ontario please feel free to contact our realty expert Astrid Hood of Remax Eastern Realty Inc., Brokerage at astridhood@remax.net or by toll free at 1-800-567-4546

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The following information to help you make sure your new home will fit your needs, preferences and price range:

• When shopping around for a new condominium, it is important to ensure that you are aware of what is and what is not included in the purchase price. For instance, are there amenities such as pools and parking? How is access to such amenities paid for? Are finishes within the units included in the purchase price? Are there other charges over and above the purchase price you should be aware of? Are utilities (gas, electricity and water charges) covered in the monthly condominium fees or not? All such questions must be considered to ensure that you can compare the overall costs associated with different condominiums.
• Every condominium also comes with its own set of rules, regulations and by-laws. These can range from restrictions on the number of occupants allowed to live in each unit to limits on pets, noise, parking and times when certain amenities may be used. These rules are designed to ensure that the condominium is properly operated and maintained. They can also help protect the rights of each owner and ensure that the living environment stays peaceful and harmonious. To decide if you can live by these rules, make sure to obtain and read a copy of them before you make any firm decisions. This information should be readily available from the seller, property manager, Board of Directors or the condominium’s governing documents.
• The boundaries of each individual unit can vary considerably from one condominium to another. In some condominiums, the boundaries of your unit could end behind the interior drywall of the dividing walls. In others, it might only go as far as the wall’s centre line.This can be an important distinction, so find out where your ownership will end, especially if you’re planning to carry out any alterations or renovations.
• For a freehold or bare or vacant land condominium, the individual unit encompass the entire house, including the exterior walls, roof and even the land surrounding it. Before making a purchase, make sure you understand exactly where your unit’s boundaries will begin and end.
• Your condominium may also include some “exclusive use common property elements.”These are areas that are outside the boundaries of your unit but reserved for the exclusive use of the unit owner. Common examples include balconies, parking spaces, storage lockers, driveways and front or rear lawns. While these spaces are for your exclusive use, there may be restrictions on how and when you can use them.

For example, you may not be able to park a boat, RV or commercial vehicle in your assigned parking spot, or there may be restrictions on what you can place on your balcony. If you feel there may be a potential conflict regarding what you want to do with any of your common property elements, try to clear it up before you sign on the dotted line.