(April 4, 2013 – Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported the average sale price for all property types in March was 10.8 per cent higher than same month last year.
There were 1170 property sales processed through the RAHB Multiple Listing Service® (MLS®) in the month of March, representing a 14.3 per cent decrease in sales from the same month last year. RAHB also reported a 9.7 per cent decrease in listings compared to the same month last year.
“It’s certainly a quieter spring than we’ve had for the last three years,” said RAHB CEO Ross Godsoe. “We are seeing fewer listings and sales than average.”
Seasonally adjusted* sales of residential properties were 8.4 per cent lower than the same month last year, with the average sale price up 2.9 per cent for the month. Seasonally adjusted numbers of new listings were 4.2 per cent lower than the same month last year.
Seasonally adjusted data for residential properties for the month of March, 2013:
Actual overall residential sales were 14.7 per cent lower than the previous year at the same time. Residential freehold sales were 13.7 per cent lower than last year; the condominium market saw a decline in sales of 18.5 per cent. The average sale price of freehold properties showed an increase of 10 per cent over the same month last year, while the condominium market saw an increase of 7.5 per cent when compared to the same period last year.
The average sale price is based on the total dollar volume of all residential properties sold. Average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value.
The average days on market increased from 40 days to 44 days in the freehold market and decreased from 44 days to 43 for condominiums.
“We seem to be moving toward a more balanced market,” noted Godsoe. “That will give buyers a bit more breathing room when they are looking for a home. From what the numbers say, however, buyers won’t be looking at paying less than they would have a year ago – only a few of our areas are showing average sale prices that have gone down. ”
Residential sales were down 13.1 per cent for the first quarter of the year when compared to the same period last year, while listings were down 6.3 per cent; average sale price rose 6.9 per cent for the quarter.
Every community in RAHB’s marketing area has their own localized residential market. Please refer to the accompanying chart for residential market activities in select areas of RAHB’s jurisdiction.
*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.
Just as you wouldn’t set out to buy the Thanksgiving Day groceries without a list, you shouldn’t start looking at houses before you know for sure what you want and need in a home.
Focus your home search early on by writing out the features your new house absolutely must have, and those features that, while nice to have, are not necessarily deal breakers.
You can start by asking yourself the following questions:
Knowing your budget will help you decide which of your desired home features should stay on your shortlist. Here are the two factors to consider:
Some home buyers are willing to compromise on location, and for others location is everything. To determine how important it is to you, answer these questions:
These are the features every prospective home buyer must consider. Determine which ones you’re dead-set on, and which ones could go either way:
Although special features are less important than the basics, most home owners have at least a few they’re not willing to compromise on. Find out which are must-haves for you:
TORONTO, February 26, 2013 - Despite the perception that aging Baby Boomers may create an oversupply of traditional single-family homes as they downsize into smaller residences, a new Royal LePage Real Estate survey shows that demand for suburban detached homes remains strong among Baby Boomers and Generation Y.
The poll by Leger Marketing found that of the 40.6 per cent of Baby Boomers (born between 1947 and 1966), who do have plans to move to another primary residence, almost half (43.5 per cent) are looking to purchase another primary residence that is a similar size or larger than their current property. Of the total responses from Baby Boomers who intend to purchase their next primary residence, 66.8 per cent said they will do so in the next five years.
“Baby Boomers are the wealthiest generation in Canadian history. They live in large homes with ample space for their many possessions. They love their garages and their yards. This study clearly indicates that contrary to popular belief, most Boomers do not intend to downsize anytime soon,” said Phil Soper, CEO of Royal LePage Real Estate.
Male Baby Boomers, who are planning to move, are more keen on upsizing their residence than women, with 23.0 per cent reporting that they plan on moving to a larger residence compared to 12.1 per cent of women. Baby Boomers looking to purchase a condominium prefer less amenities and low maintenance fees (54.5 per cent) over properties that have many amenities (39.1 per cent). Seventy-eight per cent of Baby Boomers currently own their own homes.
Contributing to the desire of Baby Boomers to continue to invest in large, suburban homes is the reality of housing children well into adulthood. According to the survey, a quarter of Generation Y lives rent free because of arrangements with family or friends, but that number climbs to 33.4 per cent in the Prairies, 29.7 per cent in Quebec and 27.2 per cent in Ontario.
“The adult children of Baby Boomers aren’t going anywhere fast. Good jobs have proven more difficult for them to find, they’re extending their studies and they’re living at home. It is no wonder the concept of swapping a family-sized home for a small retreat has lost its luster,” said Soper.
Meanwhile, members of Generation Y (those born between 1980 and 1994), who plan to purchase their next residence, are most interested in single-family multi-storey homes (50.6 per cent) and bungalows (19.0 per cent). Only 15.7 per cent of Generation Y said they plan to buy a condominium or an apartment. In comparison, 22.9 per cent of Baby Boomers looking to purchase their next residence desire condominiums or apartments.
The survey found that more than half of Generation Y planning to purchase their next residence, intend to purchase in the suburbs (55.7 per cent) compared to the downtown core of a city (21.7 per cent). Forty-three per cent of current non-owners who plan to purchase in the next five years say it is because they are planning to start a family in the near future. Among this younger demographic planning to purchase their next residence, the safety of a neighbourhood and proximity to their work, family and friends are the most important attributes when selecting a new home. Keeping in mind that nearly half of Generation Y listed their near-term plans to have children of their own (42.0 per cent) as a motivating factor to purchase, the least important factors are proximity to the downtown city core and restaurants or entertainment.
“The young people who make up Generation Y are our first-time home buyers. Like their parents, they dream of owning a lovely house in the suburbs, which provides value as well as access to parkland for children to play and the perception of greater family safety,” said Soper. “Even as condominium living becomes more popular across Canada, the study results do not point to a corresponding decrease in demand for traditional single-family homes. For the Baby Boomers that do head downtown, there is a generation waiting to move in.”
Among Baby Boomers who plan to downsize when they purchase their next residence, the most popular reasons are to reduce maintenance (73.7 per cent), free up money for retirement (48.1 per cent) and for travel (30.9 per cent).
Regional Generation Y comparisons showed that more Ontarians and Albertans place importance on being close to the city’s downtown area or town’s core than Quebecers and those from the Prairie provinces. Likewise, a gym or fitness centre is more important to Ontarians, Albertans and British Columbians than it is to Atlantic Canadians or Quebecers. Atlantic Canadians also place less importance on proximity to public transportation, restaurants or entertainment than Generation Y living elsewhere in the country.
When comparing Baby Boomers across Canada, Ontarians, Quebecers and Albertans are more likely to choose a home in the country than British Columbians. More Baby Boomers from British Columbia value being close to public transportation when purchasing a home than those from Ontario and Alberta. In addition, there are no significant regional differences comparing Baby Boomers who want to upsize, downsize or continue to live in a similar sized property.
Royal LePage Baby Boomer and Generation Y Survey
Survey Results for Respondents Who Plan To Purchase a New Primary Residence
Baby Boomers (1947-1966)
Generation Y (1980-1994)
When I move I plan to…
Upsize
17.6%
63.2%
Same Size
25.9%
20.9%
Downsize
54.0%
12.9%
I don’t know/ I prefer not to answer
0.7%
2.2%
What type of property are you interested in for your next primary residence?
Multi-family properties
Condominiums/Apartments
22.9%
15.8%
Single family homes
Townhouse
6.8%
7.3%
Bungalow
39.0%
19.0%
Single family multi-storey
18.8%
50.6%
Sub-total
64.5%
76.8%
Other
Recreational property
5.9%
1.7%
3.0%
2.8%
I don’t know/I prefer not to answer
3.3%
2.9%
What features/amenities are most important to you in purchasing your next primary residence?
Safety of the neighbourhood/area
61.9%
Includes a backyard or balcony
69.6%
66.3%
Style of the home
63.5%
60.9%
Garage or driveway
67.8%
57.7%
Square footage of the property
50.2%
49.9%
Green/energy efficient
27.2%
20.2%
Swimming pool
12.7%
8.9%
Proximity to work
16.7%
47.1%
Proximity to public transportation
29.0%
31.2%
Proximity to family and friends
23.3%
34.3%
Proximity to downtown/city core
26.3%
24.3%
Proximity to restaurants/entertainment
22.8%
19.8%
Proximity to schools or daycares
29.9%
Includes a gym or fitness centre
7.0%
7.9%
The survey was completed online using Leger Marketing’s online panel, LegerWeb, between September 13th and September 21st, 2012 with a sample of 1,013 Canadians born between the years 1980 and 1994 (Generation Y) and 1,011 Canadians born between the years 1947 and 1966 (Boomers). A probability sample of the same size would yield a margin of error of ± 3.08%, 19 times out of 20, for each respective sample.
Serving Canadians since 1913, Royal LePage is the country’s leading provider of services to real estate brokerages, with a network of 14,000 real estate professionals in over 600 locations nationwide. Royal LePage is the only Canadian real estate company to have its own charitable foundation, the Royal LePage Shelter Foundation, dedicated to supporting women's & children’s shelters and educational programs aimed at ending domestic violence. Royal LePage is a Brookfield Real Estate Services Inc. company, a TSX-listed corporation trading under the symbol TSX:BRE.
For more information, visit www.royallepage.ca.
The dramatically rising cost of home heating is a bothersome concern for most Canadians. Heating your home efficiently this winter will be the key to keeping your energy costs under control. Here are some quick, easy and, most importantly, inexpensive ways to maximize warmth and minimize impact to your pocketbook:
- Adjust Your Personal Thermostat: Wear a sweater and dress warmly around the house. When you're stationary, watching television or reading, you're most susceptible to a chill, so toss a throw around you. Since hot air rises, resist the icy influence of cooler floors with thick socks or slippers.
- Adjust Your Home Thermostat: It goes without saying that the less energy you use, the lower your heating bills will be. Set your thermostat at 21°C when you're home awake, 18°C when you're sleeping and 15°C when you're out of the house. Purchase a programmable thermostat to reduce you heating bill by as much as 20 per cent.
- Let the Sun Shine In: While up to 25 per cent of your home's heat is lost through its windows, they are also a source of solar warmth. During daylight hours, keep your drapes open and let the sun help heat your home. Insulate your windows with plastic film to reduce heat loss by 50 per cent. Insulating curtains are expensive, but pay for themselves within 7 years.
- Seal the Leaks: Caulk, seal and weather strip around windows and doorframes, baseboards, ducting and electrical outlets to save up to 20 per cent on your heating bill. Remember to close your fireplace flue when you're not enjoying a fire. Install a door sweep to resist against under-the-door drafts. Turn off the heat supply and close the door to unused rooms, such as a guest bedroom. Close interior doors leading to hallways or stairways to keep the heat where it's needed most.
Put a Spring in Your Garden StepsYour home is your habitat, and your garden is your sanctuary. To make the journey between the two more pleasing, lead yourself down a perfect garden path. A garden path or walkway will enhance the livability, functionality, and beauty of any home and garden.
The type of walkway you choose depends on how much traffic it gets, how much upkeep you have time for, and how much you want to spend.
Assess Traffic First
Will your walkway get a lot of foot traffic? If so, you’ll want to remove several centimeters of topsoil and add a durable, solid surface such as gravel, brick, concrete pavers, or stone. Make sure your path is wide enough for two people to walk side by side and allow space for overhanging plants.
If traffic isn’t much of a concern, select an easy and natural solution like wood chips or shredded bark. Wood chips will cushion your feet, replenish the soil, and can help conceal unwanted weeds. For added foot comfort, opt for a turf path.
To Maintain or Not to Maintain?
How much work do you want to put into your walkway? Gravel and wood chips are easy to put down, allow for natural drainage, and won’t disrupt plant roots. They’re also very affordable. However, chips and stones need annual replenishing and some weeding may be required.
Mortared paths and dry-laid pavers need the least amount of maintenance, but are more costly options that will likely require professional help. As well, these types of heavy walkways could cause drainage issues and are prone to cracking and splitting.
Shape and Style
Design your walkway with your garden in mind. Leave space between stones to allow greenery to grow and keep the focus on the natural beauty of your plants. Use flagstones and create a rich mosaic pattern using the different shapes and sizes that look natural in any garden.
If you prefer a more modern look, go for square paving stones with a dark border that frames your walkway and complements the colours of your home. Use a curved design to make any narrow areas appear to be wider and more spacious.
Let it Shine
Light up your walkway with LED or solar powered spot lights and lanterns, so you can safely see your way at night. Alternatively, recessed lights that shine along the path offer a nice invitation for an evening stroll.
Hide lights in flower beds, pots and shrubs near your walkway. Concealing the light source will illuminate your plants, offer up some mystery in your garden, and add ‘curb appeal’ to your backyard.
Looking to escape the hustle and bustle of city life and get a little closer to nature? A vacation home may be just the solution.
Whether it’s a chalet in the mountains, a cozy vacation cottage on the lake, or a villa with an ocean view, Royal LePage will help you find your ideal getaway.
We specialize in helping Canadians achieve their dreams of owning a recreational property. A cottage, chalet, cabin or piece of lakefront property is not only a great place to enjoy with family and friends, it’s a smart option for a long-term investment.
Royal LePage publishes a Recreational Property Report that surveys Canadian attitudes toward recreational property. Here are our latest findings:
To find recreational properties listed in your desired area, select "Recreational" under "Type" in our property search.
Contact your local Royal LePage real estate agent, who can help you realize your dream of owning a vacation home or cottage today.
Winter. It's a time of crisp air, gently falling snow, and piles of coats, slushy boots and soggy mittens in your front hall. This season, make your entryway organized and inviting. Here's how:
Make first impressions count. Give your door a fresh coat of glossy paint, and put down a new doormat. Hang a nice winter wreath or plant an evergreen in a sturdy urn.
Store your stuff out of sight. If you don't have enough closet space, add storage by hiding a garment rack behind a curtain, using an armoire, installing a coat tree or hall stand, or by trying one of these storage ideas:- A bench with built-in storage holds your stuff and offers a convenient spot to sit down and put your boots on.- A small bookshelf with labeled baskets is good for storing small items. - A chest of drawers can make your front hall look more like a furnished room, and it gives you a surface for photos, a lamp or incoming mail.
Stay in season. Move non-winter items to a different part of your home. Leave some extra space and extra hangers for your guests' coats.
Tame your shoes. Set a limit to how many pairs each person can keep by the door, and install a shoe rack to keep footwear organized. Avoid putting boots on a mat that doesn't drain ? they won't dry properly and the leather will get damaged. A perforated tray with a mat underneath will let your footwear drip-dry.
Hook it. Heavy-duty hooks keep backpacks, scarves, purses and coats off the floor. Hang them at a height where kids can reach them to make it easy for them to put away their things.
Make a place for your misplaceables. How much time do you spend hunting for keys, sunglasses, cell phones and dog leashes? Dedicate a basket or bowl to these important items by the front door, and you'll never have to search under the couch cushions again.
Design idea 1: Install a hook and small shelf for each person, and stencil their name on the wall beside it.
Design idea 2: Hang an ornate frame and fill the blank space in the middle with small, pretty key hooks.
Floor décor. Offer a warm welcome with a soft, washable rug that doesn't show dirt easily. Put a mat outside, too; wiping your feet before you go in will mean less muck and less cleaning.
Don't forget to decorate. Paint your entryway a striking colour, hang a graceful mirror, incorporate family photos or a favourite piece of art, add a table lamp and an accessory or two. Make it welcoming and beautiful. After all, it's the first place people see when they come into your home.
Take your Winter Garden from Drab to Fab
A garden is our little piece of paradise, a place to appreciate nature in its changing seasons, and winter is no exception. With a little planning you can go outside and enjoy the fresh air and exhilaration of your garden right through the winter.
Create colour by incorporating some evergreens into your garden setting, including pine, fir and holly. Leave tall grasses or plants untrimmed as they’ll look sensational dusted with snow, especially red dogwood. Add more visual interest with bright bird houses, bird baths and statuary. Condo owners with balconies can create a mini garden: put winter kale and branches in a planter and surround with your favourite green boughs, which can last up to three months.
Sit outside on your garden furniture and soak up some sun out of the wind. By treating and protecting your wood or metal furniture it can be left outdoors so you have a front row seat to winter’s wonder. Take the chill off the air with an overhead patio heater, which will keep you warm and comfortable and also provide light for nighttime. If permitted in your municipality, a fire pit adds an extra glow, especially when you sit around it with your favourite people toasting marshmallows, or sipping cups of hot chocolate.
Winter lighting adds an extra dimension to your garden or balcony. Solar lights provide a soft glow to a snowy landscape, or simply wrap a small tree or bush with a string of white LED mini lights. Lights add an element of wonder to dark winter nights.
Too tired to go outside after a long day at work? A hot tub in your garden is a perfect place to unwind and wash your troubles away, or to soothe aching muscles after shoveling mountains of snow from the driveway. Picture yourself immersed in hot bubbling water as snowflakes fall around you.
Taking time to sit and relax is good for you, and the quiet serenity of a winter garden is perfect for reflection or meditating. Take your camera outside and capture the sights of a Canadian winter in all its wonder. Snow has a way of making everything look magical so don’t miss out on the special experience of being out and about in your own winter wonderland.
http://www.sres.org/50_plus_senior_resources.cfm
You’ve invested years getting your home to look just the way you want it. The interior is splashed with vibrant colours, family photos hang from the walls, and treasured keepsakes fill your shelves and tabletops. You love your home, but your needs have changed and it’s time to move.
And your real estate agent wants you to do WHAT?
It may go against every instinct in your body, but the same decorations and set-ups that make the home cozy to you may actually turn off prospective buyers. Buyers want to easily imagine a house as their own, and it can be hard for them to see beyond a current owner’s style. The advice that any good real estate agent or interior designer will give you is to neutralize and do needed repairs and adjustments before you show your home.
If you’re serious about showing your home in the best light in order to attract more offers at a price you’re happy with, follow these interior preparation tips:
Take a walk through your home and scrutinize every room from a buyer’s perspective. Better yet, get a friend or neighbour to do it for you to ensure objectivity. If you have any problem areas, consider a home renovation. Don’t forget to walk around the exterior, too.
Buyers prefer to see a home in move-in condition, and even small things such as a dripping faucet can detract from the value of your home. Repair any cracks, holes and chipped paint in every room. Tighten loose knobs, towel racks, switch plates and outlet covers. Fix tight doors and windows, squeaky floorboards and loose stair banisters. Repair caulking around tubs and sinks, and fix that leaky faucet.
Household security is a sought-after feature in homes, and simple measures such as adding window locks and motion-sensor lights outside can boost the attractiveness of your property. In densely populated urban areas, simple additions such as blinds and shutters are invaluable for improving privacy.
Many potential buyers are willing to pay a premium for good décor. To appeal to the highest percentage of home viewers, keep your décor simple and modern with neutral wall colours. A contemporary and minimalist space attracts the most buyers and brightens up the look of your home, whereas unusual accessories and strong wall colours will limit your pool of buyers. This is also true for renovations. The right renovations can often boost the price of a home, but be careful not to do it with too much flair. Your unique style may set you apart, but it will also scare some buyers away.
Actual returns on renovations depend not only on the renovation itself, but also on how your home compares to your neighbours’. If your home is already above market value for your neighbourhood, your renovation may not yield a higher return. Buyers looking at moderately priced homes won’t be able to pay a premium for luxury finishes. Ask your real estate agent to give you an assessment of homes in your area before embarking on costly renovations. To see which renovations will return the most value when you sell, visit Renovations.
It may sound like a lot to do, but the hard part is over. Once your home’s interior is in tip-top shape, all you need to do isenhance curb appeal, stage your home and prepare for your open house.
Print our Home Staging Checklist to ensure no aspect of your home preparation is overlooked.
Average Sale Price, Listings on the Rise in January(February 6, 2013 – Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported 763 property sales through the RAHB Multiple Listing Service® (MLS®) for the month of January, representing a 6.4 per cent decrease in sales over the same month last year. RAHB also reported a 6.1 per cent increase in listings compared to the same month last year. The average sale price for all property types was up over January of last year by 6.2 per cent.
source;
R E A L T O R S (R) Association of Hamilton-Burlington
Mobile Property Search
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Brief, Mild Correction Forecast for Canada's Housing Market in First Half of 2013, According to Royal LePage
http://www.royallepage.ca/en/media/130108-house-price-survey-q4-2012-market-survey-forecast-real-estate-market-update.aspx?toolstips=1052&relatedcontent=1074
istings, Sales, Days on Market Down; Average Price Up (Again)
(January 7, 2013 – Hamilton, Ontario) The REALTORS® Association of Hamilton-Burlington (RAHB) reported the residential market saw an 8.3 per cent increase in average sale price in December compared to the same month the previous year. The median sale price also saw gains over December of last year.“The month of December was very much like the previous few months,” said RAHB CEO Ross Godsoe, “with fewer listings and sales than last year and also with an increase in average sale price.”Seasonally adjusted* sales of residential properties were 11.5 per cent lower than the same month last year, with the average sale price up 6.9 per cent for the month. Seasonally adjusted numbers of new listings were 5.9% per cent lower than the same month last year.Click herefor the full media release including the charts for Seasonally Adjusted Residential Only, All property types, Residential only-Actual, Freehold only-Actual, Condominium only-Actual and Commercial - Actual.Click here for the Residential Real Estate Market Activity chart for the City of Hamilton.Click here for the Residential Real Estate Market Activity chart for Burlington.Click here for the Monthly Market Activity chart.
REALTORS® Associationof Hamilton-Burlington
http://www.royallepage.ca/en/realestateguide/selling/increasing-home-value/index.aspx
http://www.thespec.com/news/local/article/837863--a-rising-tide
http://www.thespec.com/news/business/article/785060--the-top-place-to-invest
http://www.thespec.com/news/local/article/751051--omb-approves-chedoke-brow-lands-development
Shelter Foundation Let’s put abuse out of commission!
http://www.royallepage.ca/en/community/shelter-foundation/index.aspx
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