2013 Remax Recreational Property Report

The Kawarthas:

 

Extensive rain and some flooding hampered recreational property

sales out of the gate in 2013, impeding showings and dampening

overall enthusiasm. Yet, improved conditions in recent

weeks have bolstered intentions and the momentum is now in

line with last year’s levels. Three-hundred and eighty-six recreational

properties changed hands in the East Kawarthas over

the past 12-month period (May 2012 to April 2013), compared

to 388 during the same period one year earlier. While prices

have remained relatively stable, average price climbed slightly

to $369,000 from $357,000. Buyer confidence has been a factor

and affordability continues to bolster demand in the area.

Entry-level properties remain most coveted, with those listed

under $300,000 moving best. Given the recent trend toward

retirement living, many purchasers are willing to ante up

for turnkey, four-season properties. Renovation continues unabated,

as owners add square footage or enhance the quality

of existing cottage product. In traditional fashion, Buckhorn,

Pigeon and Chemong Lakes are drawing solid interest, with

cottages priced from $250,000 to $600,000 moving well. While

Stoney and Clear Lakes tend to host the East Kawarthas’ most

prestigious recreational getaways, the most expensive sale so far

this year was recorded at Mississauga Lake for $1.6 million.

The appeal?—clear water, good fishing and greater privacy.

Th e starting price for a typical, three-bedroom, winterized recreational
 

property on a standard one-third to a half-acre lot

remains unchanged at $300,000. Days on market has held up,

hovering around 90 days. Overall, the market for recreational

 

the East Kawarthas on track to finish the year above 2012 levels.

For the full report click below:

 

Full Report Here

Rising confidence levels, lower values, and favourable supply spark buyer enthusiasm

 in Canadian recreational property markets, says RE/MAX

 

77 per cent of recreational markets reported stagnant starting prices or a year-over-year decline

 

 

Summer has finally arrived and its impact is evident on recreational property markets across the country.  Greater stability is returning to this segment after several years of slow growth, with close to 70 per cent of markets expected to match or exceed 2012 sales by year-end.

 

With buyer enthusiasm climbing, many markets have experienced a rebound in activity in recent months.

 

The shift can be attributed to six major factors:

 

1.       Confidence is growing in overall economic performance. 

2.       Selection of recreational product is at its best level in recent years.

3.       Prices have softened in many Canadian markets.

4.       Paper wealth accumulated in the stock market in recent years is making its way into recreational property markets.

5.       Purchasers are bypassing tighter financing criteria through HELOCs (Home Equity Line of Credit) on their principle residence.

6.       Increased foreign and out-of-province investment.

 

Signs of change have emerged in recreational hotspots nationwide.  Deals are coming together with greater ease, with more buyers and sellers reported to be on the same page.  Multiple offers have been noted in some Muskoka markets.  Luxury sales have experienced an uptick in a number of recreational communities in Ontario, including Prince Edward County, Collingwood, Honey Harbour, Grand Bend, Haliburton, and Innisfil to Oro.  Given the steady momentum of today’s market, there are indications that 2013 could emerge as the turning point—suggesting the window of greatest opportunity is likely drawing to a close.

 

Baby boomers continue to fuel the lion’s share of demand, securing properties for family enjoyment and/or with an eye to retirement down the road.  More mature boomers are opting for existing and proposed residential development on the waterfront, offering all the comforts of home, but none of the upkeep.  Ontario’s Huntsville and Midland/Penetang/Tiny/Tay are prime examples.   Full-time living is on the upswing, and as a result, this demographic is fuelling the growing trend toward renovation. 

 

Teardown activity has subsided in many markets as fewer ‘traditional cottages’ are listed for sale.  The rising cost of construction—and added HST—has also served to increase the appeal of resale recreational cottages, second homes and chalets.  There are some exceptions, as new builds continue unabated in some Ontario markets including Grand Bend, Bala/Port Carling, Midland, Innisfil to Oro, and throughout Eastern Ontario, as well as in Shediac Bay, New Brunswick and the Newfoundland Coast (East).

 

Value continues to be a key driver, with momentum strongest at the entry-level price points—between $250,000 and $500,000.  With starting prices down or unchanged in 77 per cent (24/31) of markets examined in 2013, a great deal of opportunity exists for those ready to secure a recreational getaway.  Regardless of the type of product or price point, it’s clear that favourable conditions and confidence have bolstered interest and intentions this year.  The stage is set for a solid 2013 performance. 

 

Flaherty says "the uncertainty ends today"

We are being told the Pickering Airport is a go. Finance Minister said on Tuesday the 7500 hectares that was taken from Pickering residents four decades ago will finally proceed to become an airport.

Additional land will also be set aside for economic development, and Flaherty says Ottawa will consult with community and business groups to figure out what to build. I hope that this is the case.

I personally have mixed emotions on this development. I think the economic impact for Peterborough will be huge. However, the environmental cost to wildlife, farm lands and wetlands must be considered as well.

This all said, the government has made the decision and work will start immediately. According to Flaherty it will take 10 years to construct the lower quadrant of lands for the airport.

No cost has yet been assigned to the construction of the airport.

Take a look at this blog about the protest since 1972. Click here

 

 

Thank you still in order for GE but also a thank you to the community of Peterborough and the Fisher Family for fountain.

After reading the article in the Examiner about GE giving the Centennial Fountain to Peterborough in 1967, it turns out there is more to the story.

According to the Peterborough Examiner it was Frank Fisher who came up with the idea of the fountain, with Bill Fisher leading the design committee and Ches Fisher leading the fundraising committee.

The cost of the original fountain in 1967 was around $30,000.

Current management at GE was under the impression GE donated the fountain but can not find anyone or any documentation saying so. That said GE is still pleased that they are in a position to fund the current refurbishment.

Dinosaurs Return @ Indian River Reptile Zoo

Once again Re/Max is teaming up with the River Reptile Zoo to bring the world’s prehistoric dinosaurs back to life! (well as close to alive as possible)

The event was enormously successful in 2012. Visitors came in droves to view life sized, animatronic dinosaurs which took the naturalistic hillside by storm to engage the crowds and our community.

As a sponsor I am offering $5 vouchers per person. If you would like the vouchers give me a call! 705-292-9551

 

 

General Electric steps up for Peterborough again.

Centennial Fountain in Little Lake needs to be repaired. The cost to repair to Peterborough was estimated at $90,000. That money was already approved by council to spend on the fountain but last night according to the Peterborough Examiner (Brendan Wedley), GE made the commitment to pay for the repairs.

The fountain was actually a gift to the city from GE in 1967.  At that time the gift was a significant contribution to the city and the covering the cost of repairs is just as significant. Thank you GE.

Do you know what Poison Ivy and Poison Oak looks like?

Before you go tromping through the woods, take a look at the below photos and avoid!!

 

 

 

 

How to Discourage Buyers from Buying Your Home on Purpose

If you're listing your home for sale, then of course you’ll want to make the best impression possible on potential home buyers. But, just to have a little fun, say you don't want to sell your property. What could you do to discourage those who view your home?

Well, you could have your pets in the home during viewings. That will certainly make it uncomfortable for some buyers – especially those with pet allergies.

You could also leave personal items around, such as family pictures and trophies. That will make it more difficult for a buyer to imagine himself and his family living there. It might even make him feel a bit like an intruder!

Clutter in bedrooms, closets and other areas of the home will make those spaces feel less spacious than they really are, as well as make visitors feel uncomfortable.

If you really want to turn off a buyer, then put off doing any minor repairs. A dripping tap, flickering light, dent in the wall, or other maintenance issues are certain to gain a buyer's attention. 

If all that doesn't shoo away a buyer from your home, then stick around during a viewing and follow him and his family from room to room. That will certainly make him feel uneasy.

Of course, we're just having a bit of fun here. When you put your home on the market, you want to sell it.

It’s easy to avoid all the pitfalls described above and ensure potential buyers appreciate the full value of your home.

So when you’re preparing for a showing, think of ways you can make your property appear its best, and make the buyer feel welcomed and comfortable viewing it.

Want more ideas on how to sell your home quickly and for the best price? Call today.

 

Doubling Your Storage Space (While Using the Same Space)

Finding storage space in the home is becoming increasingly challenging. These days, we all just seem to have more stuff!

Fortunately, you don't necessarily need to rent a storage locker or add a new room to your home to fit everything. There are many innovative ways to increase the capacity of the storage space you're already using.

For example, there are storage bins you can buy that are designed to fit neatly under a bed. Some have wheels, making the bins easy to pull out and access.

You've probably seen closet organizers at your local home improvement centre. These can easily double the storage capacity of a closet, while making the space look neater and more organized.

Finally, there are storage units available that are camouflaged as something else, such as an ottoman.

Visit your local home improvement centre. There are many more innovative storage solutions available for your home.

 

ATV trip @ Spectacle Lake Lodge

Our 2013 ATV trip was a great weekend of riding and socializing. Our accomidations and the food was 10 out of 10 at Spectacle Lake Lodge. He is some pictures of the fun:

Inspections of new Re/Max listings Bridgenorth April 24/2013 (Smith, Ennismore, Lakefield)

 Here is the homes we viewed as an office for our agent walk throughs. Nice group of homes!

Potential New Selwyn Logos

Council is choosing one of these logos. I do not think at this time that the public is going to get an opportunity to choose the logo. My vote would be Concept 1, what would you choose?

Dealing with multiple offers

You may think that having to deal with multiple offers on your home is a wonderful problem. After all, there are so many buyers clamoring to purchase your property!

The challenge, however, is picking the best offer – and that isn't always the one with the highest price.

Most offers come with conditions, such as "conditional on securing appropriate financing" or "conditional on the sale of our current property." You have to consider both the price and the conditions when choosing which offer to accept.

There are other considerations, too. What if someone makes a great offer on your home, but they don't have a pre-approved mortgage and they haven’t put their current home on the market? That kind of offer is risky because it is more likely than an unconditional offer to fall through.

So there's a lot to think about when you're in the seemingly enviable position of dealing with multiple offers. How do you select the right one? The answer is to have a good REALTOR® by your side to help you make the right decision!

Want more tips on finding and buying your next dream home? Call today.