Newsletter

HOME OWNERS FALL NEWS LETTER 2019

 
 

Fall 2019 | Volume 17, Issue 4

 
 
 

Canadian real estate market continues recovery in second quarter

 
 
 

According to the Royal LePage House Price Survey1, during the second quarter of 2019 low interest rates and healthy employment offset the market drag caused by economic uncertainty that kept monthly unit sales volumes below the ten-year average2. As a result, home prices appreciated modestly at the national level.

The Royal LePage National House Price Composite, compiled from proprietary property data in 63 of the nation's largest real estate markets, showed that the price of a home in Canada increased 1.1 per cent year-over-year to $621,696 in the second quarter of 2019. When broken out by housing type, the median price of a two-storey home rose 1.0 per cent year-over-year to $727,165, while the median price of a bungalow dipped 0.4 per cent year-over-year to $516,048. Condominiums remained the fastest growing housing type on a national basis, with the median price rising 3.8 per cent year-over-year to $452,451.

"We now have evidence of a sustained market recovery in some of the nation's largest markets, and signs of a price floor in other regions hit hard by the eighteen month-old housing correction," said Phil Soper, president and CEO, Royal LePage.

Canada's economy continues to grow, albeit at an unexceptional pace, with a slumping housing market being a major contributor to the slowdown. Offsetting this, business investment has picked up considerably, helping to sustain a period of exceptional employment growth, particularly in British Columbia, Ontario, and Quebec.

Royal LePage predicts national home prices to see a modest uptick by the end of 2019, rising 0.4 per cent compared to the end of 2018. The Greater Toronto Area and Greater Montreal Area are expected to continue to drive national home price gains with forecast increases of 1.4 per cent and 4.5 per cent respectively, while Ottawa is expected to outpace the GTA with a projected price increase of 1.6 per cent by year-end. Weakness in the Greater Vancouver market is expected to continue, with the aggregate home price forecast to decrease by 5.5 per cent compared to end of year 2018. Home prices in western cities like Calgary, Edmonton, and Regina are expected to decrease 3.6 per cent, 3.0 per cent, and 4.9 per cent, respectively.

To view the chart with aggregated regions and markets visit rlp.ca/houseprices

For more information see rlp.ca/mediaroom

1 Aggregate prices are calculated using a weighted average of the median values of all housing types collected. Data is provided by RPS Real Property Solutions.

2 CREA, Canadian home sales rise again in May 2019, June 14, 2019.

 
 
 

7 Handy tips to prep your house for winter

 
 
  infographic  
     
   
 
 

Before you rake those leaves...

 
 
 

Bagging leaves can be back-breaking work — what happens if you leave the leaves till spring?

Many good things, as it turns out:

Free mulch. Fallen leaves prevent weed growth and retain moisture just like wood mulch. They also protect lawns and gardens from scattered salt when the ice hits. Delicate plants thrive under a mat of wet or frozen leaves, and can easily push through in the spring.

   
 

Shelter for bees and butterflies. Did you know not all Monarch butterflies migrate? A number of our fluttery friends overwinter in town! Caterpillars hide under fallen foliage, and friendly bumblebees use it to shield their eggs and larvae. Wait until warm weather is firmly established before carting leftover leaves to the curb.

Compost. If you practice home composting, alternate green waste with brown. This keeps your future fertilizer from becoming wet or smelly. Remember to use a pest-resistant bin and keep out bread, meat, grease, and oil.

Of course, if your homeowners' association requires leaf removal, follow the rules. Keep leaves out of eavestroughs and drainage areas – if you can scatter a few on gardens and flower beds, your yard will thank you once spring has sprung.

 
     
   
 
 

Why fall is a great time for homebuying

 
 
 

When winter weather blows in, our impulse could be to hunker down and hide. However, house hunting in autumn can be to your advantage. Here are four reasons why:

  1. Better perspective. When it's gloomy out, you'll have a stronger idea how interiors look in low light. Also, leafy trees and shrubs can hide flaws around a home's exterior or downspouts. Bare branches

   
 

reveal areas in need of repair.

  1. Assess the action. In September, most neighbours have returned from the cottage and summer holidays. What could seem like a tranquil, traffic-free neighbourhood in mid-summer could be considerably more active than you suspect.

  2. Seasonal sales. Want to update your old barbecue or kitchen appliances? Purchase them from an end-of-summer sale at the local home store. Or, ask your real estate agent about the great discounts you can get from Whirlpool and Kitchenaid, through our Preferred Supplier program!

  3. Less competition. New inventory is appearing on the market, and there are fewer people shopping for a new home after summer. Sometimes, the sellers of newly-available properties need to move for a job and are eager to make a deal.

Buying a home in fall enables you to settle in before inclement weather impedes your move. Enjoy snowy scenes from the comfort of your new living room.

 
     
   
 
 

Dedicated to making a difference

 
 
 

Supporters raise funds for their local women's shelter in a variety of ways

 
 

Imagine if your home was a place of fear, worry and hurt, not one of love and acceptance. Sadly, that's the case for thousands of women and children living with domestic violence. Through the generosity of Royal LePage professionals from coast to coast, the Royal LePage Shelter Foundation has raised $30 million in support of women's shelters and domestic violence prevention and education programs.

   
 

The Royal LePage Shelter Foundation is proud to be Canada's largest public foundation dedicated exclusively to this cause. Royal LePage covers the foundation's operating costs so 100% of all donations are directed to helping more than 50,000 women and children escape domestic violence each year.


Did you know?
 

  • On any given night in Canada, more than 6,000 women and children are living in an emergency shelter to escape domestic violence.

  • Each year in Canada, an estimated 362,000 children witness or experience family violence.

  • On average, every six days in Canada a woman is murdered by her current or former intimate partner.

  • Women who have experienced domestic violence have rates of PTSD similar to soldiers returning from war zones.

This is why Royal LePage offices and agents are dedicated to making a difference.

Contributions to the Royal LePage Shelter Foundation help women find safety, work through their traumatic experiences, and build lives for themselves and their children that are free from violence.

Many Royal LePage agents also volunteer at their local shelter and provide in-kind donations like clothing, toiletries and gift cards. In addition, the Royal LePage Shelter Foundation raises the profile of services available to women seeking help, including providing support to initiatives like sheltersafe.ca, a 24/7 online connection to shelters across Canada. The Royal LePage Shelter Foundation also supports programs that help youth develop healthy and respectful relationships, an important step in preventing intimate partner violence.

In talking about an issue that is too often hidden behind closed doors, Royal LePage professionals bring awareness to the impact of domestic violence and give survivors the chance to lead a safer and happier life.

For more information on the Royal LePage Shelter Foundation, please visit rlp.ca/shelter.

 
     
   
 
 
 
 
 
 
 
 
 
     

David Parsons | Team Lead

Sales Representative

Residential, Commercial, Industrial, Land Investment at Royal LePage

(416) 566-1884

parsons@royallepage.ca 

 

1654 Lakeshore Road W.

Mississauga, Ontario

L5J 1J3

 
 
 

1654 LAKESHORE ROAD WEST

Mississauga ,  ON L5J1J3

 

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All offices are independently owned and operated, except those marked as indicated at royallepage.ca/disclaimer. Not intended to solicit currently listed properties or buyers under contract. The above information is from sources believed reliable, however, no responsibility is assumed for the accuracy of this information.

© 2019 Bridgemarq Real Estate Services Manager Limited. All rights reserved.

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FIRST TIME BUYER AND SELLER INFORMATION

When you're shopping around for a new home, it's easy to let your emotions take over. This quick list of dos and don'ts can help you keep a level head while you look, and ensure you don't end up with buyer's remorse down the road.

DO a drive-by. Check out the exterior, the street and the neighbourhood. If you can, stop by during the day and in the evening to get a sense of what it's like at different times. See if there are any good shops and restaurants in the area, and if it's a place where you feel comfortable walking around. Check walkability scores of different neighbourhoods here .

DO come prepared. Show up to showings and open houses armed with a list of questions. Take plenty of photos. Sketch out layouts. Measure spaces to ensure your furniture will fit. Write down all the things you love, items that require repair or renovation, elements you're not so keen on. When you're looking at multiple homes, it's easy to get confused – having detailed notes of each visit will help you keep track.

DO look at homes in your price range. It's easy to fall in love with a place you can't afford. Don't bother looking at the ones that are priced out of reach - you'll only be setting yourself up for disappointment, and make yourself feel like you're settling for less than you deserve.

DON'T forget to take stock of storage. There's nothing like moving into a new place and realizing there's nowhere to stow your stuff. Look at closets, basement storage, attic space and outdoor sheds. Where will you keep your vacuum cleaner? Your spare linens and towels? Sports equipment and off-season clothes?

DON'T sweat the small stuff. That harvest gold fridge and the stained basement carpet can both be replaced at a relatively low cost. The scary turquoise dining room can easily be repainted. Watch out for high-cost fixes instead, like outdated electrical or bathrooms that require a complete overhaul.

DO check the water pressure. Run the taps and flush the toilets (separately and at the same time). See if the showerhead blasts water or just gives off an unsatisfying drizzle. And don't forget to check how fast the water heats up. If it's really slow, there could be issues with the heater.

DON'T forget to check the exterior. Look for damp or buckled spots on the siding, peeling paint, loose shingles, cracks in the foundation. A quick look can save you thousands of dollars in the long run.

DON'T overestimate your DIY capabilities. Fixing that leaky faucet? Sure, almost anyone can do that. But renovating the kitchen? Ripping out drywall? Putting in new plumbing? Before you make an offer on a house that's not move-in ready, make sure you're not getting too enthusiastic about what you can actually accomplish. If you think you can do it yourself, then realize you need outside help, you'll be facing some serious costs you didn't factor into the purchase price.

DON'T be afraid to move on. So many buyers get stuck on the idea that another home as perfect as this one will never come along. That's simply not true. New listings come on the market every day, so never assume that there's nothing as good as - or better - out there. Be patient.

Finding a property you love is exciting, but it's a little like falling in love with a person. That initial glow can make you overlook faults that will drive you around the bend a few years down the road. Keeping emotions in check and the long-term future in mind can help you make a smart buying decision – and finding  the home that's perfect for you.