Saugeen Shores Real Estate Buzz

This property is located just a short walk from the beautiful sandy shores of Lake Huron in Port Elgin.  The current owners have put in much time and effort in updating it.  Newer shingles, Victorian style windows, wiring, plumbing, bathrooms, master bedroom addition on the upper rear, covered porch, detached garage/workshop, gas hot water heating, etc.  The lot is 66 feet x 132 feet.  This would be ideal for a full time home, a summer home or perhaps use it for part of the summer and then rent it out.  For more info, go to
 Some Updated History In Saugeen Shores.

If you or someone you know is thinking about putting their house on the market, here is some helpful information for you.  As I am sure you are aware, the way that a property is presented is first and foremost the most important factor when it comes to Buyers choosing to view your property.  I have been working with a Home Staging Professional and together we are offering my Seller clients the benefit of her expertise.  Please check this out and see what I mean; Getting Your House Ready For The Market

 Snow, clouds, Canadians losing to the US,Monday; what a way to start a week!

However, happy clients, great co-workers, Canadian couple hopefully heading for a gold in skating, Monday; a whole new start!

It is what we make of it.  Grumpy breeds grumpy and smiles bring smiles.  Take a walk up the street in downtown Port Elgin or Southampton and I would almost bet that you would get a greeting from most people that you meet.

We are very fortunate to live in the area that we do.  We have the diversity of two different commercial cores, great schools, a hospital that offers great care, two medical centres, a variety of fitness alternatives and a varied choice of different housing options.

So, on that note, if you are considering a move to our area, come for a visit and stay for awhile!

With some people thinking that the prime rate may be heading upwards in the latter part of this year, the government has taken some initiative to try to control the debt that some people tend to take on when it comes to buying properties.

OTTAWA — Canada’s top economists and opposition MPs are welcoming new moves by the feds to rein in property speculators and to make it harder for some to buy houses.

“We want to have the most prudent guidelines and the most prudent regulations we can,” said Warren Jestin, chief economist for Scotiabank. “The steps taken by the government will tend to reduce the risk of the market overheating and going into a reversal.”

The changes announced by Finance Minister Jim Flaherty are threefold:

• Canadians buying a house with less than 20% down must qualify based on a five-year fixed rate, regardless of what mortgage they get.

• People refinancing their mortgages will be able withdraw a maximum of 90% of the value of their house, down from 95%.

• Property speculators who buy places but don’t live in them, will have to put a minimum of 20% down, up from 5%.

The new rules come as concerns emerged a housing bubble may be forming, which could pop, wounding an already weak economy.

Flaherty said this worry is premature, but he was concerned by people taking “excessive amounts of cash” out of their homes and felt it was time to crack down on speculators.

“Early policy action can help prevent negative trends from developing,” Flaherty said. “Our government is acting to help prevent Canadian households from getting over extended and to prevent some lenders from facilitating it.”

Don Drummond, chief economist for the Toronto Dominion Bank, said the changes were “good” and he wished he thought of the property speculation angle first.

“All of the changes are minor but they’re all designed to help that 5% of the market that tends to get into trouble,” Drummond said.

The move was welcomed by the Canadian Real Estate Association, which said it was happy the feds decided to make these changes instead of others.

“We’re pleased the federal government didn’t increase the minimum down payment or decrease the amortization period,” said Gregory Klump, chief economist for the CREA. “The impact of those could be deep and damaging.”

Liberal finance critic John McCallum said he broadly welcomed the changes but warned they could discourage landlords from buying, resulting in fewer affordable homes for rent.

NDP finance critic Thomas Mulcair said, “Making sure that potential home buyers can manage their debts is critical … and frankly I welcome Flaherty’s belated attention to this problem.”

Mulcair, however, wants restrictions put on how much banks can charge customers on mortgages to prevent variable mortgage rates from rising too fast.

peter.zimonjic@sunmedia.ca

I could not believe what I saw when driving along Miramichi Bay the other day!  Someone had taken it upon themselves to cut down some trees on the water side of the road.  Just who does one think they are to not only come along and do that, but to also leave the debris there.  Very sad!  I have lived in this fine area for 41 years and it is just a known fact that this is not something one does!!  Shame on you!

When Buying a house, avoid causing anyone grief, including yourself, the Seller or the Real Estate Representatives, by ensuring that you are 100 percent happy with your decision.  Although it does not happen very often, there has been a few times that I have heard of situations whereby, after putting forth an Offer to purchase and having it accepted, the Buyers have second thoughts.  When that happens, we have a problem especially if there are no conditions in the Offer.  If this is the case, the Sellers will have to agree to ‘mutual release’  the Buyers and this is something that they do not have to do.  In order to not have this happen, make sure that you have looked at enought properties to know exactly what you want and what you do not want.  When you have found what you think to be the right one, take your time to make sure the right conditions are in the offer and make the offer price something that you know you will be able to manage.

Throughout the process keep in mind that this may be one of the largest purchases that you have ever, or will ever make.  However, also keep in mind, that this is a very large decision for the Sellers as well so please do not take the decision lightly!

Apparently we have a new fixture in our neighbourhood;  a pumper truck that is sucking up the excess water that we are expereincing.  I am not exactly sure why (though I have heard rumours) but there seems to be an awful lot of water laying on the roads in the area of Brentwood, Wellington and Woodlawn.  There is even a generator, that runs out of gas on the weekends, that is powering a pump that is suppose to take this water to a proper storm drain.  On top of this issue, apparently when the people who are affected by this situation call in to inquire about what will be done to alleviate the issue, they are greeted by the mindset that there really is nothing wrong.  I have to wonder how these same people who are employed to look after such matters would react if such an issue arose in their area of town.  I believe that, at the very least, the people involved are owed an explanation of what is going on with the water situation and what steps are being taken to rectify it.

Better news in the Toronto Star on April 15th, 2009.  Apparently the low mortgage rates and the decrease in house prices are enabling the first time home buyers to enter the market.  This has been stated by some Canadian Real Estate experts.

Phil Soper, president and CEO of Brookfield Real Esttae Services has said that the affordability in many parts of the country is improving.

He continues to state that the housing market has shifted from a seller’s market to a buyer’s market which is good news for someone who is looking to buy their first home.

From a local Broker’s prespective, I can say that this is certianly showing in our market as well.  The past  3 weeks, we have seen an increase in both listings and sales.