Welcome to 2014!

Canada ~ Land of the Polar Vortex.  Where did this new name materialize from? In past years, whenever we had a cold snap, it was referred to as an “Arctic Air Mass settling over Southern Ontario”.  I think the weather-fortune-tellers are glorifying their craft to make it sound good…like what special effects mean to a Hollywood movie director.  Polar Vortex or Arctic Air mass, all I know is that it is plenty cold outside and I have made use of the many mitts, hats and scarves I have knitted the past couple years while I am out and about showing properties.  Cold weather doesn’t stop me from taking care of my clients, so if you are ready to make a move this *Spring*, please feel free to call upon me anytime.  Call or email, I am always available.  Meanwhile ~ Stay Warm!

 

Time Flies ~ Tough Decisions ~ Being An Adult…

….Isn’t always easy.

Every year, the clock seemingly ticks faster. As a child, I thought time crawled. How many nights do you remember bouncing off the walls, anxious for the all important events to arrive? Counting down the days into *how many sleeps*? You couldn’t wait to become an adult. Then one day, you wake up to realize you are an adult only to long for the carefree days of youth.

Being an adult is fun and for the most part, you can do whatever you please. You can stay up all night if you want to, with no parent enforcing a curfew. But being an adult also means a life full of decisions, both large and small, easy and tough. What do I want to be when I grow up? Will I get married? Will I have children? Will I ever be able to buy my own home?

There are mentors along the way to help guide you down the road during this, most arguably, the best time of your life. Career coaches, personal life coaches, spiritual coaches, financial coaches and then there is me…your Realtor® coach.

Having a Realtor® available to help get you through the new, exciting and sometimes stressful stages of obtaining a home as a new adult is your best resource…which I just happen to be available for. Give me a call at 905-681-7900 and let me show you that being an adult CAN be Fun!

Considering Building An In-Law Suite?

Perhaps thanks to a struggling economy and an unpredictable stock market that has resulted in many retirement nest eggs being decimated, more and more adult children are welcoming aging parents back into their homes.  Such living situations have led to a growth in the construction of in-law suites.

bldg an inlaw suite articleIn 2010, the National Association of Home Builders found that 62% of builders surveryed were working on home modifications related to aging.

In-Law suites are often created by converting a room in the house, such as basement or even a garage, into a liveable suite.  Such suites can benefit elderly relatives who might been dealt an unforeseen financial blow.  But in-law suites can also benefit younger homeowners who want to see their parents more.

In addition, when older men and women move in with their adult children, they can provide some necessary relief from the escalating cost of daycare.  But before building an in-law suite in their home, homeowners might want to heed the following tips:

Be Certain it is Legal

Making changes to your home may require a permit, particularly if your in-law suite will be an entirely new addition to your property and not just a strict room remodel.  Contact your local municipality to ensure your project complies with zoning and to obtain the necessary permits.

Consider the Health of Your In-Laws

Many in-law suites are occupied by aging relatives who might not be able to get up and down the stairs as easily as they used to.  That makes accessibility of the suite a top priority.  Typically, it is best to locate the in-law suite on the main (1st) floor so relatives won’t find it difficult to get in and out of the suite.

Don’t Overlook Privacy

Just because your parents or in-laws will be moving in doesn’t mean they don’t value their own privacy.  Chances are your relatives will initially feel as though they are invading your space and your privacy, so be sure the suite affords adequate privacy to all members of the household.  It might be best to build the suite so it has its own separate entrance from the rest of the home.  The suite should also have its own full bathroom and if possible, kitchen area, so your in-laws can cook for themselves and entertain their own quests without feeling like a burden.  A second kitchen is also something to discuss with the local zoning experts as some locales prohibit having 2 kitchens in a single residence.

Tailor certain Amenities to the Elderly

If your in-laws are older, install certain amenities, such as, grab bars in the shower and bathroom during the initial construction so you don’t have to install them later.  Install easy-open drawers and make sure the suite has ample lighting.

Remember to Install Safety Features

Safety features like fire, smoke and carbon monoxide detectors are a legal necessity.  Make sure the alarms on each of these detectors is loud enough so elderly men and women who have hearing loss can hear them without issue.  Make sure all walkways leading to the in-law suite have motion detecting lamps at night to reduce risk of falling.  Also, if the suite will be a separate building from your house, such as a converted pool house or detached garage, install an intercom system that connects with the main house so your relatives can easily reach you in case of emergency.

In-law suites are becoming more popular as a greater number of older adults are moving in with their adult children, such suites can bring families closer together and prove beneficial for all parties involved.  Just do your homework for providing a safe and rewarding experience for your aging parents!

Market Moving Toward a Balanced Market

(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:

     Seasonally Adjusted  Percentage change compared to Residential Only                                                           Mar/13       Feb/13        Jan/13      Dec/12       Nov/12       Mar/12

New Listings

1555

6.8%

8.4%

5.4%

6.6%

-4.2%

Sales

1056

4.4%

2.0%

3.2%

2.1%

-8.4%

Average Sale Price

$377,130

1.6%

6.0%

5.7%

1.5%

2.9%

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.

 The numbers for the month of March 2013 compared to March 2012:

 All Property Types –                                       

          Actual    2012                          2013

% Change

Listings

2111

1907

-9.7%

Sales

1365

1170

-14.3%

Average Sale Price

$354,545

$392,859

10.8%

End of Month Listing Inventory

4111

3798

-7.6%

       
Residential Only – Actual      
Listings

1954

1765

-9.7%

Sales

1314

1121

-14.7%

Median Sale Price

$303,000

$319,000

5.3%

Average Sale Price

$352,781

$388,147

10.0%

Average Days On Market

41

44

 
End of Month Listing Inventory

3282

3103

-5.5%

       
Freehold Only – Actual      
Listings

1635

1441

-11.9%

Sales

1055

910

-13.7%

Median Sale Price

$327,500

$340,000

3.8%

Average Sale Price

$376,310

$414,079

10.0%

Average Days On Market

40

44

 
End of Month Listing Inventory

2763

2560

-7.3%

       
Condo Only – Actual      
Listings

319

324

1.6%

Sales

259

211

-18.5%

Median Sale Price

$250,000

$258,000

3.2%

Average Sale Price

$256,936

$276,309

7.5%

Average Days On Market

44

43

 
End of Month Listing Inventory

519

543

4.6%

       
Commercial Only – Actual      
Listings

157

142

-9.6%

Sales

51

49

-3.9%

 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.

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.

New Listing!

If you are an INVESTOR looking to add another property to your landlord profile – look no further.  Tenants will stay on unit May 31, 2014 or vacant possession available.

Beautiful renovation in sought after West Hamilton that is just steps from Locke St. shops & boutiques.

PICT0040Circa 1895, this home has been stripped back to the brick and only the finest of materials with well above average workmanship and creativity being used to transform this 3 bedroom, 2 1/2 bath home into something special.  Everything is new from stucco exterior with R20 insulation value (R40 in attic), windows and roof to electrical, plumbing, furnace, A/C, hardwood flooring, granite, gorgeous cabinetry, top of the line GE Profile stainless steel appliances.  Extensive Travertine and mosaic tile work, the list goes on.

This home has been leased the past 2+ years by budding professional doctors that want the finer things in life but not the maintenance that comes with owning a property.

 For More info, click here

 

January 2013 Stats For Burlington

 Hot off the press ~ Here are some brief Stats for our area:

Burlington experienced a decrease of 12.71 % in the number of homes sold compared to January 2012, but at the same time, the average price rose by 4.53 %, from last January. 

                       Active at End            Sales                      Median                 Average

JAN/2013 442 158 $425,709 $454,906
JAN/2012 358 181  416,009  435,162

Sales were down but inventory rose markedly, could this be the turning point from a Seller’s Market to a Buyer’s Market?  Only time will tell….

If you are looking for additional Stats for Waterdown, Flamborough and the Hamilton Area, give me a shout…it would be my pleasure to go over all the details with you!