Saugeen Shores Real Estate Buzz

How about a little bit of positve news for a change!  The days are getting longer, the sun is shining more and Spring is here.  The real esate market has picked up somewhat over the last few weeks.  According to the stats from the Grey Bruce Real Estate Board, March 09 has surpassed February 09 sales in the Saugeen Shores area.  In February, there was  a total of 8 sales; 6 of them residential and 2 farm land.  For the same time period in March, there has been 20 sales; 1 cottage, 1 commercial, 1 vacant lot and 17 residential. 

It is my opinion that we are seeing an increase because the Sellers are pricing many of the properties to sell and are realizing that the prices have decreased from the last few years, there are Buyers out there who have been looking around for awhile and the availability of low interest rates;  4.05% on a 5 year closed was quoted to me by one of my mortgage brokers.

 …a great way to start the Spring!

Just read an article on how you can save your money by selling your property privately with the help of a company for a fee, of course.. Sounds good, eh!  Let’s look a little closer:

1)  these people have undertaken a “rigorous” training program; what does that mean?  What kind of training do they have as they are not legally able to act as your Realtor in any form unless they, have in fact, obtained their real estate license.  Did they receive training on how to use a website or how to put a sign in your lawn, all of which you can do yourself without having to pay anyone any money at all! As a Realtor, I took 3 courses over a span of about 1 year to obtain my license and, as all other Ontario Realtors,  I continue to take courses as we need to obtain 24 credits every 2 years in order to maintain our license.  These courses are offered on a variety of subjects that help to keep us current with what is happening in the the real estate world and also helps us to assist our Sellers and Buyers in the best possible way.  Apart from that, personally, I have 13 years of experience which, I believe, speaks for itself!

2)  apparently they possess expertise in the world of ‘private sale’ but do they have any expertise in the world of real estate?  This is probably one of the most significant transactions that you will ever make and you will need to know something about the real estate market and not just what is here say!

3)  when marketing a home, one should hope to get it out to as many possible buyers as they can.  Perhaps this can be accomplished the best by having it as a multiple listing; this way you would have a large number of viewers as this is primarily the way one starts their search whether it be on the major sites such as  RE/MAX, Coldwell Banker, Royal LePage, etc. or, how smart is this, www.mls.ca!!  Basically it is one stop shopping!

4)  How many people think their homes are just that much nicer than the one that sold just down the street.  There is selling and then there is overselling.  How does a Seller talk effectively with a Buyer; I wonder?  Are there legal disclosure issues involved here? Do you like to hear negative comments about your property or does that put you on the defensive; not a good thing when dealing with a potential Buyer; especially the Buyer who is looking for that deal!

5)  Are you made aware of how many of these ‘private sale’ homes are actually sold through professional real estate offices after languishing on the market for many months?  Something that you may want to ask about!  As a licensed Realtor, in order to come up with a fair market price, I go though all of the sales, all of the current listings and also look at any properties that may have been on the market but have since expired.

6)  Who governs their “strict code of ethics” and what is that code of ethics?  Realtors are governed by RECO (Real Estate Council of Ontario) and we must abide by a long list of rules and obligations when dealing with, not only with our clients,  but other Realtors as well.

7)  I am sure that you have heard the saying, “if it is too good to be true, it likely isn’t”.  I think that it is fair to say that every company and profession has their client testimonials as well as their naysayers; it is a big world with a large population and everyone needs to find the one that works best for them.  Just make sure that you have all of the pros and cons up front so that you can make an educated decision.

Last but not least, I have worked with Buyers who absolutley do not want to work directly with a Seller.  In a Buyer’s market, how would you work with this situation?

First-time buyers driving force in Canada’s residential real estate markets, says RE/MAX

Entry-level purchasers are now the engine driving home-buying activity in almost every major centre in Canada, according to a recent report released by RE/MAX.

The 2009 RE/MAX First-Time Buyers Report, highlighting first-time buying activity in 32 residential housing markets across Canada, found that improved affordability is prompting many first-time buyers to get off the fence, out of the rental, and into the market. While a sense of caution still prevails, more and more first-timers are finding it hard to pass up the chance to become homeowners in today’s buyer-centric real estate climate. Increased inventory and longer days on market, coupled with the lowest lending rates ever, are presenting opportunities that have not been seen in almost a decade.

While the current economic crisis has caused some first-time buyers to either take it slowly or apply the brakes, home ownership remains a top priority for those who are able to take advantage of reduced carrying costs, rock bottom interest rates and lower house prices. Affordability has greatly improved and buyers are firmly in the drivers’ seat in just about every market we surveyed. The new reality is that homeownership remains well within reach for most first-time buyers.

Although the year got off to a slow start, February home sales were well ahead of those reported in January. The upward trending is expected to continue as more and more first-time buyers enter the market in the weeks ahead. The flurry of activity in the lower-end may also serve to kick-start sales in the mid-to-upper end of the market, which have, as expected, been relatively sluggish in recent months. While inventory and days on market was up virtually across the board, it’s noteworthy that several markets reported tighter conditions in the lower end of the market, where demand and buyer activity remains quite healthy.

Canadian markets from coast-to-coast are ripe for a reawakening as the weather warms up. First-time buyers seem more acclimatized to economic factors, even though the barrage of bad news continues to flow. Those who are secure in their jobs, have accumulated good down payments, and have acceptable credit ratings are continuing to venture forward, undeterred by tighter lending criteria.

According to the RE/MAX Report, buyers are clearly in control in most Canadian markets. Of the 32 markets surveyed, 22 (69 per cent) remain firmly in buyer’s market territory. These include Vancouver, Surrey, Port Coquitlam, Chilliwack, Kelowna, Victoria, Edmonton, Calgary, Saskatoon, Regina, Ottawa, Peterborough, London-St. Thomas, Niagara Falls, Mississauga, Metro Toronto, Northern GTA, Kingston, Windsor, Hamilton-Burlington, Barrie, and Halifax-Dartmouth. Ten (31 per cent) report more balanced conditions: Winnipeg, Kitchener-Waterloo, Sudbury, North Bay, St. Catharines, Saint John, Moncton, Fredericton, St. John’s, and Charlottetown.

Forty per cent of markets offered single-detached homes priced under $200,000, including Charlottetown, Saint John, Moncton, Peterborough, Niagara Falls, St. Catharines, Windsor, Fredericton, Halifax-Dartmouth, London, North Bay, Kingston, Saskatoon and Winnipeg. More than two-thirds (71 per cent) offered condominiums starting under $200,000, (Moncton, Fredericton, Halifax-Dartmouth, Sudbury, North Bay, Peterborough, Mississauga, Burlington, Niagara Falls, St. Catharines, Kitchener-Waterloo, London, Windsor, Surrey, Chilliwack, Victoria, Kelowna, Edmonton, Saskatoon, Regina, and Winnipeg).

The most affordable markets for detached homes, based on starting prices are: Moncton ($115,000), Charlottetown ($120,000), and Saint John ($130,000) in Eastern Canada; Windsor ($75,000), Niagara Falls ($119,000), and St. Catharines ($125,000) in Ontario; Winnipeg ($185,000), Saskatoon ($190,000), and Regina ($210,000) in Western Canada.

RE/MAX is Canada’s leading real estate organization with over 17,000 sales associates situated throughout its more than 670 independently-owned and operated offices across the country. The RE/MAX franchise network, now in its 36^th year, is a global real estate system operating in more than 70 countries. Over 6,800 independently-owned offices engage nearly 100,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in resident, commercial, referral, and asset management. For more information, visit: www.remax.ca

This property is located within walking distance of the downtown core as well as the poplular Rail Trail.  It has a large fenced in rear yard on a corner lot.  The main living area has been updated with flooring, paint and a new kitchen with an eating bar.  The sun porch/room has patio doors that lead to a private patio area and lots of green space.  The double car garage would suit any handyman.  Windows have been updated and the shingles were replaced in 2005.  The lower level is full and infinished except for the laundry area and 3 pc bath.  The rest is ready for your finishing touch to make this a comfortable home for either a first time home buyer, perhaps a retiree or a small family.  An ideal way to get in on the market.