Home for Sale in Elizabeth Park Paradise – 106 Carlisle Drive

June 21, 2009 · Filed Under New MLS Listings and Paradise Real Estate · Comment 

dsc_0341Just listed in Paradise in the popular Elizabeth Park subdivision, this very well maintained 5 year old split entry bungalow. Laminate flooring throughout most of main floor. Ceramic tiles in kitchen, porch and bathroom. Open concept eatin kitchen with adjoining family room. Fully fenced back yard with 10×12 PT deck. Basement is roughed in for apartment. Still under 7 year Atlantic Home Warranty. Asking price for 106 Carlisle Drive is $224,900.  Call Fraser or Stephen Winters for more information. MLS LISTING # 145029

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Newfoundland Expands Hibernia Oil Field

June 16, 2009 · Filed Under Newfoundland Economy and Newfoundland Oil and Gas · 3 Comments 

hibernia_platformOil is the talk of the province once again in Newfoundland.  This morning news reports can be read throughout the internet outlining the tenative agreement expanding the Hibernia Oil field.  Newfoundland Labrador will have a 10% stake (through crown owned Nalcor Energy) in the Hibernia South expansion. Great news as oil is currently hovering over $71 a barrel. Premier Williams made the accouncement this morning during the Newfoundland & Labrador Oil and Gas Industires Association (NOIA) conference in St. John’s.

What effect do you think this has for real estate in St. John’s?


Complete news articles can be found below

CBC.ca – $10B Hibernia South deal reached: Williams

VOCM.com – Big Day for Oil Patch

Globeandmail.com – Newfoundland gives Hibernia New Life

Thetelegram.com -Hibernia South worth $10 billion to the province: Premier

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Mount Pearl Home for sale – 26 Michener Ave

June 16, 2009 · Filed Under Mount Pearl Real Estate and New MLS Listings · Comment 

26michenerNew listing in Mount Pearl. This fantastic home with essentially nothing to do but move in!  A great little property with vinyl windows, vinyl siding, some new laminate flooring and a new recroom in basement. Main floor family room is bright and cozy. 3 bedrooms on second floor. Main bathroom has lots of upgrades. Front and rear deck as well as a fenced rear yard. Asking price is $144,900.  MLS # 144825 Call Stephen or Fraser Winters for more information.  709.682.9045 or 709.682.9245

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Newfoundland Rental Market Vacancy Rates

June 12, 2009 · Filed Under CMHC Reports, St. John's Investments and St. John's Real Estate · 2 Comments 

average newfoundland rentProvincially the rental market for Newfoundland is showing lower vacancy rates.  Currently we are sitting at 2% (down 1.2% from last year’s vacancy rate for 3.2%)

The St. John’s rental market posted a vacancy rate of 2.2 per cent versus 3.7 per cent last year.  This translates into 80 vacant units out of the 3,668 units surveyed (according to CHMC). With the local labour market remaining healthy, positive net-migration will continue to create rental demand and keep vacancy rates low.  As well, with higher housing prices (and expecting to continue to increase) many buyers are being pushed out of the housing market altogether.  The demand for for rental is expected to remain strong.  Great time to buy an investment property?

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Generation X purchasers poised to be a major force in recreational property markets across the Canada

June 4, 2009 · Filed Under Remax Reports · Comment 

Generation X purchasers are poised to replace aging baby boomers as the major force in recreational property markets across the country, according to a report released today by RE/MAX.

The demographic shift was noted in the 2009 RE/MAX Recreational Property Report highlighting sales, pricing, trends and developments in 50 Canadian markets.  The report found demand from Gen X (those born between 1965 and 1980) has nearly doubled over one year ago.  Seventy-four per cent of markets surveyed this year reported a marked trend toward thirty-something buyers snapping up affordably-priced product, ranging from waterfront cottages to resort condominiums, compared to just 40 per cent in 2008.

The time to buy has never been better. With four exceptions, recreational property prices have softened in most major markets across the country.  Only on the Newfoundland Coast and in Ontario, from Innisfil to Oro, Kingston, and Beaverton, have values increased this year compared to 2008. Starting prices remain similar to one year ago and in some cases are even higher.

“While buyer’s market conditions exist virtually across the board, sellers of recreational properties from coast-to-coast are clearly content to wait out the storm,” says Polzler.  “They are in no hurry to unload their product.  Many have held on to their properties for generations – they’re fully-owned yet underutilized, which has prompted some aging owners to list them for sale.”

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Newfoundland Real Estate Stats for May

June 1, 2009 · Filed Under Monthly MLS Stats · Comment 

The spring real estate market is upon us as noted by the increase in Active MLS Listings last month. Average home prices in all areas have increased since the April St. John’s Real Estate Market Stats.  Increased housing prices means added pressure to first time buyers. This spins off into lower vacancy rates – great for those who own investment 2-apt homes or considering buying an investment property.  Houses are still staying on the market longer – pricing your home correctly is crucial in the market.  I would still call it a buyers market,  but again, there are still some houses receiving multiple offers.

The average price for a home in St. John’s edged slightly higher again for another month (currently at $210,969 for a 12 month period).

Mortgage rates are still at all time lows. The Bank of Canada’s Prime lending rate is at 2.25% and supposed to hold steady here til 2010.  Great for varible rate mortgages but it might be the time to look into a fixed term as the rates can only go up from here.

Total # of MLS Listings [May] = 1108

Total # of Sales [May] = 347

Number of Active Listings in the NLAR MLS System (ALL of Newfoundland) = 3491

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

St. John’s Real Estate: Listings = 210  Sales = 103 Sales/Listings Ratio = 49%

Average Sale Price: $221,707 for the month of May

Mount Pearl Real Estate: Listings = 46 Sales = 15  Sales/Listings Ratio = 33%

Average Sale Price: $201,126

Paradise Real Estate: Listings =46 Sales = 21 Sales/Listings Ratio =46%

Average Sale Price: $240,342

East Extern Real Estate: Listings = 36 Sales = 27  Sales/Listings Ratio = 75%

Average Sale Price: $236,090

Conception Bay South Real Estate: Listings = 50   Sales = 20  Sales/Listings Ratio = 40%

Average Sale Price: $205,934

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