Two Apartment Home For Sale in East End St. John’s

February 27, 2009 · Filed Under New MLS Listings, St. John's Investments and St. John's MLS listings · Comment 

12 Lancaster StreetFraser and Stephen Winters just listed 12 Lancaster Street. Great owner occupied 2 apartment home located in Airport Heights Subdivision in East End St. John’s. Three bedrooms up  and two in the basement apartment.  Hardwood floors throughout most of main floor. Ceramics in large kitchen. 3 piece ensuite and walkin closet off master. Decent sized family room downstairs for main unit.
Two bedroom basement apartment is in great condition. Very spacious and bright, complete with its own laundry facilities. Currently rented for $700 pou Landscaped and fully fenced. This home is well maintained. A great investment property or live upstairs and help supplement your mortgage.  Call Fraser or Stephen Winters for more information.  Asking price is $279,900

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Canadian House Sales to rebound in 2010 says CREA

February 26, 2009 · Filed Under CREA Reports and Real Estate Canada · Comment 

In a new release from CREA earlier this month, Canadian house sales are expected to decline in 2009 but rebound back in 2010.  The full news release is below.

National MLS® home sales activity is expected to decline in 2009 before rebounding in 2010, according to a new residential housing forecast prepared by The Canadian Real Estate Association.

National MLS® home sales activity declined 17.1 per cent in 2008, and MLS® sales activity is forecast to fall an additional 16.9 per cent to 360,900 units in 2009. This would be the lowest level for national sales activity since the year 2000.  Sales activity is expected to decline from levels set in 2008 in every province, led by declines in British Columbia, Alberta and Ontario.

National MLS® home sales activity is forecast to rebound by 9.9 per cent to 396,600 units in 2010, marked by an acceleration in activity in the second half of that year. The rebound in activity in 2010 is forecast to be biggest in British Columbia and Alberta.

New listings on the MLS® systems of real estate Boards in Canada have been trending steadily lower since peaking in the second quarter of 2008, and that trend is forecast to continue. It is that combination of rebounding sales activity and fewer new listings that will stabilize the MLS® resale housing market in 2010.

“We are caught in a cycle where consumer confidence has been eroded because of job losses, and consumer confidence is an essential ingredient for housing sales activity,” says the President of The Canadian Real Estate Association, Calvin Lindberg of Vancouver. “And housing activity helps creates jobs.”

“The essential selling ingredients in today’s market are realistic pricing, marketing, and preparation. There are potential buyers making inquiries, but the barrage of economic news makes them much more cautious than before.”

The MLS® sales forecast developed by CREA Chief Economist Gregory Klump shows that fewer transactions in some of Canada’s more expensive housing markets, combined with reduced asking prices, will continue to put downward pressure on average MLS® sale prices.

The national MLS® average home price is forecast to decline eight per cent in 2009, with prices down most in Western provinces and Ontario. By contrast, the average home price in Newfoundland & Labrador is forecast to rise 4.8 percent in 2009. Prices are forecast to stabilize in 2010, with annual price increases of one per cent or less in five provinces.

The price trend is similar but less dramatic for the weighted national MLS® average price, which compensates for changes in provincial sales activity by taking into account provincial proportions of privately owned housing stock. The weighted national MLS® average price is forecast to decline 6.4 per cent in 2009, and hold steady in 2010.

“Increasingly cautious homebuyers and mortgage lenders means that active listings will take longer to sell in 2009 compared to previous years,” said CREA Chief Economist Gregory Klump.

“The national housing market is recalibrating due to weak sales activity,” said Klump. “Supply will take time to adjust to lower demand, but sellers unwilling to accept offers below their expectations will remove their home from the market,” he added. “Fewer active listings reduces buyer choice, and in time puts a floor under prices,” CREA’s Chief Economist added.

Click here for the full PDF version of this news release.
(CREA 09/02/09)

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East End St. John’s Home for Sale

February 23, 2009 · Filed Under St. John's MLS listings and St. John's Real Estate · Comment 

23 Athone Place New listing located on a great cul-de-sac in east end St. John’s.  (23 Athlone Place) Immaculate 2+1 bedroom split entry home with lots of upgrades in recent years. Vinyl windows and siding, new kitchen with corian counter tops. Two full bathrooms (one on each floor). Basement has a large third bedroom as well as a cozy rec room. Fully fenced and landscaped.  Asking price is $189,900.  Call Fraser and Stephen Winters for more information or to book an appointment.

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St. John’s Area Housing Starts Increase in January

February 19, 2009 · Filed Under CMHC Reports, New Home Construction and St. John's Real Estate · Comment 

The following is CMHC’s newest press release for housing starts in St. John’s for January.

Urban housing starts increased during the month of January, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). January’s total housing starts increased 88 per cent, with 124 starts recorded throughout the St. John’s area versus 66 starts in January of 2008. An additional six housing starts were recorded in other urban areas across the province for a total of 130 provincial starts, an increase of 91 per cent.

“January’s urban housing starts posted considerable growth over the same month last year and can be attributed to the relatively mild winter conditions experienced throughout the month,” said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador. “Pent-up demand, paired with builder capacity constraints, appears to have caused some of the residential construction activity from last year to spill over into the first month of 2009,” added Janes.

For Canada’s urban centres, total housing starts fell 40 per cent with 7,244 recorded in January compared to 12,153 during January of 2008. Single-detached starts decreased 44 per cent to 2,512, while multiple starts of 4,732 represent a 38 per cent decline from a year ago. Throughout Atlantic Canada, there were 348 urban housing starts posted versus 385 the previous January, a decline of ten per cent.

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New Development proposed for Southlands and Kenmount Road

February 18, 2009 · Filed Under Local St. John's, New Home Construction and St. John's Real Estate · Comment 

715 acres of land for Southlands and 495 acres for the upper part of Kenmount Road could possibly hold 5000  to 7000 homes if approved for residential development. Full article can be read at The Telegram Online – Expanding horizons: St. John’s looking at opening 1,200 acres to development

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Newfoundland Real Estate Stats for January

February 4, 2009 · Filed Under Market Trends, Monthly MLS Stats and St. John's Real Estate · 2 Comments 

After coming to a dramatic slowdown in December from a banner 25% price increase year, 2009 is back in full swing.  Although sales are down (25% compared to last January), much needed listings are up (5%).  Officially we are into a balanced market now.  Increased inventory, record low mortgage rates and what appears to be still a lot of buyers, the real estate market in St. John’s should hold its own compared to the rest of Canada.

This month, Newfoundland’s Real Estate MLS housing price break down is showing a 25% decrease in sales while there are currently 680 listings, an increase of 5% from last year.  Majority of the sales showing were in the $200,000 to $350,000 price bracket.

Total # of New MLS Listings [Jan] = 680

Total # of Sales [Jan] = 200

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 2289

The average price of a home in the St. John’s Real Estate market is now $198,757  2008.  Compared to the provincial average of $184,055 YTD for 2009.  Note this is for ALL Newfoundland (nlar.ca)

Here is a break down by area for the month of January

St. John’s Real Estate: Listings = 117  Sales = 48 Sales/Listings Ratio = 41%

Average Sale Price: $219,146 for the month of January

Mount Pearl Real Estate: Listings = 11 Sales = 6  Sales/Listings Ratio = 55%

Average Sale Price: $208,667

Paradise Real Estate: Listings =52 Sales = 14 Sales/Listings Ratio =27%

Average Sale Price: $264,325

East Extern Real Estate: Listings = 32 Sales = 16   Sales/Listings Ratio = 50%

Average Sale Price: $229,048

Conception Bay Real Estate: Listings = 41   Sales = 17  Sales/Listings Ratio = 41%

Average Sale Price: $192,321

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New listing over looking Bally Hally and Quidi Vidi

February 2, 2009 · Filed Under New MLS Listings, St. John's MLS listings and St. John's Real Estate · Comment 

4newfoundland4 Newfoundland Terrace is a fantastic 2 story town home, with exceptional views of Quidi Vidi Lake and Bally Hally Golf Course.  This house boasts 9ft ceilings, crown mouldings and was professionally decorated. Hardwood floors, ceramic tiles throughout most of home.  Open concept kitchen and dining room with adjacent family room.  Three bedrooms, master with ensuite and walkin closet. Basement is fully developed and has access to in house garage. Rear yard is fully landscaped and fenced.  New price is $265,900.  Call Fraser and Stephen Winters for more information.

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