Saugeen Shores Buzz

As headlined in the Business section of the Toronto Star yesterday “Housing Slowdown Speeds Up”.  If this article does not get the news through, I am not sure what will.  According to the figures released by the Canadian Real Estate Association, the average price of a home in Canada in October was $281,133 compared with $312,024 in October of 2007.  In Ontario, the average price was down 10% to $281,661 in October compared to $312,937 in October of 2007.  And guess what; Saugeen Shores is in Ontario and therefore affected by this price decrease.  Why some people still believe that the prices have not fallen and why they continue to hold out for 2007 prices is beyond me.  One way to accept this price easier is if you are, in fact, selling and buying in the same market; you are selling cheaper but are also buying cheaper.  Also, if you have been in your home for the past many, many years, yes, you may have done a little better last year (10% better) but after all the years of living in the same house, you are likely still faring pretty good with the house prices that we are seeing.  Hoepfully, we will not see too much more of a decrease!  Just remember, if you are considering to sell your property, you need to price it realistically for the present day market and not according to the price that your neighbour received a year ago!

In Flanders fields the poppies blow
Between the crosses, row on row,
That mark our place; and in the sky
The larks, still bravely singing, fly
Scarce heard amid the guns below.

We are the Dead. Short days ago
We lived, felt dawn, saw sunset glow,
Loved, and were loved, and now we lie
In Flanders Fields.

Take up our quarrel with the foe:
To you from failing hands we throw
The torch; be yours to hold it high.
If ye break faith with us who die
We shall not sleep, though poppies grow
In Flanders Fields.

- John McCrae

A powerful poem, especially with all of the fighting that is taking place; whether it be on the fields in Afghanastan or Iraq.  Whether the soldiers are Canadians, Americans, Iraqis’, Afghanis’
or the myriad of other nationalities that are involved in this destruction; we all bleed the same color!  On Nov. 11th, take 2 minutes of your time and say a silent prayer for those that have been lost to the casualtiy of war and their families and also for the lives that will continue to be taken as long as this warfare continues.

Well here we are in the 2nd week of November and, once again, I will touch briefly on our real estate activity.  This past week, we have seen it a little busier than the past few months.  There are definately Buyers out there but they are taking their time and thinking through any purchase that they hope to make.  I have seen Offers come and and are quite a bit lower than the asking price but this is not unusual in a Buyer’s market.  One of the problems with low ball Offers is that it can get the Seller’s back up and then it will make it even more difficult to negotiate a deal.  When an Offer comes in too low on a property that is fairly priced for the market, the Buyer is not giving the Seller any room at all to negotiate and it is then not surprising to see the Offer go back to the Buyer at full pop.  Right at the moment the inventory is getting lower so this could have a negative effect on the Buyer’s who are sitting on the fence.  Of course no one really expected the prices to drop like they have and we are not sure if they have hit their low point; however, with the low availability of product, some recent sales and some motivated Buyers, this could be a good time for a Seller to get their property on the market.

Here are a few more thoughts about the real estate market in Saugeen Shores.  Now, as much as we are hearing depressing news on a daily basis with the stock market, the banks, the loss of jobs, etc. there is a little bit of positive news.  Here in Saugeen Shores, as in most other communities,even though the banks have tightened up on their lending policies (in some cases), there are still lots of houses presently on the market waiting for some Buyers.  Let’s put a positive swing on things; perhaps with the lower prices, investing in real estate would be a little better that the stock market at the moment or this may the time to purchase an investment property or maybe as a first time homebuyer, the prices are getting into the range that you can now afford to purchase! Our interest rates are still at a fairly low level and along with the reduced prices, as a potential first time buyer, you may be able to get into the market and pay the same or a little more for a mortgage as you are presently paying for rent.  What goes up does come down BUT what goes down usually goes back up so this may be your time to get into the real estate market in Saugeen shores!

I am not about to impart good news here!  If you are at all familiar with not only our local real estate market but the real estate market at large and even beyond…you will not be surprised when I tell you that our house prices have fallen.  In the best of times, it is not necessarily the easiest thing to tell someone what their home is worth because even though we do this on a daily basis, there is always someone who thinks that their house is just a little nicer than the neighbours and therefore worth $20,000 more!  Not!  Now we are into a time where not only have the prices dropped but with the new assessments just released, we are sometimes seeing houses prices now below the new assessment price as done by MPAC.  The good news is, yes there are Buyers out there and yes, they will buy ,but no, they will absoluelty not pay more than what the market dictates even if you do have central air and central heating as well as a beautiful location with lots of trees!  The bottom line homebuyers is this, if you want to sell, you need to price your property realistically for today’s market and not for the market that we saw in the last two years.

Well, here we are; once again it is that time of year when Port Elgin rolls out the welcoming mat to all of our visiting friends, family and tourists that come to town to marvel at the pumpkins, ohhh and ahhh at the cars, take in the wonderful craft show (where you can see the wonderful art of Peter Sheeler http://www.petersheeler.com and just have a great time with the family.  I remember the first Pumkinfest way back when and am in awe in how it has grown.  I take my hat off to the organizers and all of the many helpers that put in many, many hours in order to make this a good weekend for all.  So why not join in the fun this weekend and have a good one!  For more info go tohttp://www.pumpkinfest.org/

I just wanted to take a minute and thank Abby Bolton and her helpers for her perseverance in getting this dog park off the ground.  I know that we enjoy it, our doggies enjoy it and, from what I have heard, several people enjoy the chance to get there with their dogs.  It is nice to see them running, playing and interacting with the others.  If you would like more info about this park, google “Saugeen shores dog park” your dogs will love you for it!

I received this great little newsletter the other day from one of our local mortgage brokers and there is an article that I would like to pass on to you.  I thought that it would be quite relevant with the way our gas prices keep fluctuating.  I hear more often than not, that people are quite concerned about where this is all going.    So here goes…just a few tips that you may never have considered:

• Choose ‘regular’ gasoline.  Most cars do not require more expensive ‘premium’ gas but be sure to check your owner’s manual.
• Fill up at the station with the lowest price.  Today’s gasolines provide very similar performance.  While brand-name gas can be more expensive than ‘no name’ brands, there really is not much difference.
• Adopt new travel practices.  Perhaps you could take the bus to work, carpool, cycle or even get a little exercise by taking to the feet.  Sharing a ride not only doubles your fuel economy but it also cuts your commuting costs in half.
• Explore telecommuting.  If your company will allow, perhaps you could work from home 1 or 2 days per week.  You could also try shoppping and banking on your computer.
• Slow Down.  Try not to waste fuel by driving at high speeds, making fast starts and changing speed.
• Reduce air conditioner use. (YIKES!!) Turn off the A/C whenever possible and open the windows or use flow-through ventilation.
• Avoid idling.  Your engine does not usually need to be warmed up.  Also, if you are stopping for more than a minute or so, stop the car! (Commom sense)
• Maintain your vehicle.  Make sure your air filter is clean, keep the tires properly inflated and get your wheel alignmnet checked.

So there you have it; a few little hints to  help you cut down on your gas consumption.

On another note, if you would like to receive this newsletter, I am sure that you could give Jim a call; he would be more than happy chat with you.  Of course, if it is a mortgage that you are looking for, I am sure that he can help you out in that resepct as well.   http://www.mortgageintelligence.ca/jimcook

“Why does the Buyer want a home inspection on my property? Everything has been working well for me!” I can tell you as a Realtor, just about every Offer that I write or every Offer that I present has a home inspection clause in it. It not only protects the Buyer but it may protect the Seller in the long run…

A home inspector is usually hired by the Buyer to go over his/her purchase with a fine tooth comb. The inspection covers a wide variety of items that may cost the Buyer substantial money down the road if they have not been cared for. It is one thing to go into an agreement knowing about the defects in a property but if this info is not known to the Seller and, therefore not known to the Buyer, the end result could be costly.

Any time that I have had a Buyer do an inspection, I try to impress upon them that we are looking for major concerns such as roof issues, water issues, electrical pluming and/or foundation issues. We all are aware that every house, including new builds, have things that have to be looked after; however, the larger things can add up to a lot of expense.

A Buyer will usually accompany the home inspector during the inspection so that they can get first hand advice on how to deal with a problem. A good inspector will give them different options of how to remedy it.

There are 3 ways that a Buyer may deal with the inspection’s outcome. They may want to negotiate a better price so that they will be able to make the repairs, they may want the Seller to do the repairs or they may just choose to walk away from the deal if they cannot come to an acceptable conclusion with the Seller.

In our present Buyer’s market, it would be wise for a Seller to perhaps have a pre-inspection completed so that they know for sure what is going on in their home so that there will not be any surprises when the Buyer has their own inspection.

So…in the end, though everything may have been working well for you in your home over the past many years, the Buyers today have such a selection of properties to choose that their expectations are high when it comes to value for their money!

We must be growing….more and more I hear different sirens blaring! Police, fire, ambulance; whatever it may be, it bothers me when I hear these sounds. I remember a time, and not so long ago, that when a siren was heard, everyone looked and wanted to know what was going on. Now, it seems that it is ‘old hat’ and most people just keep on with their daily lives when this happens. Are we now immune to the sound of somebody else’s pain? I guess it can only be expected as the town grows and more and more people move to our fine area. On a postive note, I saw a policemen walking about downtown today and it was refreshing to see. It’s nice to know that they are there if and when we need them!