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St. John's Newfoundland is one of North America’s oldest cities. Spectacular coastlines, panoramic views, outdoor adventure, rich history and culture await all who live here.
Stephen & Fraser Winters your RE/MAX real estate agents for St. John's. Buying, selling or relocating to St. John's Newfoundland? Put the successful Father and Son Realtor team to work for you. Fraser and Stephen will show you the smart approach to buying and selling St. John's Real Estate.
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STEPHEN 709.682.9045
FRASER 709.682.9245
Looking to buy a home in St. John’s? Relocating from another city to St. John's? Fraser and Stephen Winters are here to help you! Whether you are buying or selling, take advantage of our free St. John's real estate market reports and access to the St. John's area MLS.
Since Chevron signed the multibillion-dollar memorandum of understanding to develop the Hebron offshore oilfield project back in August 2007, St. John's real estate and surrounding areas have gained favorable optimism and increases in residential homes. Looking to sell you home for TOP DOLLAR? Contact Fraser and Stephen Winters for your free, confidential Home Market Evaluation
This real estate blog is written by Fraser & Stephen Winters. We both are full time successful top producing RE/MAX Realtors in St. John's, Newfoundland. The information contained on this website is from sources believed to be reliable. However, it may be incorrect. This information should not be relied upon without personal verification. We assume no responsibility for its accuracy. This information is not intended to solicit clients already under contract. For more information about us visit our website.
Looking for neighborhoods or school information for a particular street in St. John's or Mount Pearl? We can help you find the right neighborhood by browsing information on schools and property values and much more.
Interesting Real Estate links throughout Canada
- The First Quarter 2010 edition of CMHC’s Housing Now – Major Centres – St. John’s is now available and can be accessed by clicking here
- Ottawa to make changes to mortgage rules that would require banks to consider whether a person who takes out a variable-rate mortgage on a home can continue to make the payments if were to go up significantly
- The much heated topic of the week (from a REALTOR’s point of view) is the Competition Bureau’s attack on the Canadian Real Estate Association (CREA) and its Multiple Listing Service (MLS). Check out this Globe and Mail article by Stephen Ladurantaye – What’s a stake in Competition Bureau’s MLS fight.
- TheScope.ca writes about the proposed new 15-storey Fortis building will look like in downtown St. John’s. Complete with actual photo’s of the building courtesy of Fortis.
- How will the 2010 Winter Olympic’s effect the Vancouver Real Estate Market? A very interesting read.
- Is a Real Estate Bubble forming in Canada? Check out BNN’s Squeezeplay as they interview Don Campbell and discuss.
MLS Home sales strong according to CREA
The Canadian Real Estate Association (CREA) has just released last months stats, and say Canadian MLS homes sales are strong for August.
Below are some paragraphs outlining the article. For the entire article click here
According to statistics released, a total of 42,483 homes traded hands via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards in August 2009. This represents an increase of 18.5 per cent from the same month last year, and the third consecutive year-over-year gain of more than 15 per cent. Sales were 6.6 per cent below the record for the month of August set in 2007.
Resale activity in August 2009 was up from year-ago levels in about approximately three-quarters of all local markets. Year-over-year gains in Vancouver (117 per cent), Toronto (27 per cent), Calgary (17 per cent) and Montreal (nine per cent) contributed most to the national increase in activity. Aggregate MLS® home sales activity for 25 major markets posted the third consecutive increase from year-ago levels of more than 20 per cent in August.
Demand continues to improve in Canada’s more expensive housing markets, drawing the national average price upward. The national MLS® residential average price rose 11.3 per cent from year-ago levels to $324,779. This is the highest national average price for the month of August.
Don Campbell’s interview on The Hour with George Stroumboulopoulos
Last night, The Hour with George Stroumboulopoulos had a great interview with Don Campbell. Don is a Real Estate Consultant, educator, investor and author of a some excellent real estate investing books, his newest Real Estate Investing in Canada: How to Create Wealth with the ACRE System.
The main discussion was based around whether the Canadian real estate market is going through a crash or just a correction. In interesting comment was how he referred to the last three real estate years as “The Tiger Woods Years”. (ie can buy just about anything and make money). The market is now in a correction stage according to Mr. Campbell.
Yes market activity has slowed, prices have dropped and new construction starts lower, but he is preaching that this is just a market correction, be smart on what/where you buy.
He was asked: what conditions do you look for with regards to buying a property in a particular city?
1) look for population increasing
2) average income increasing
3) affordable properties
4) highly accessible (ring road exits, subway, train stops etc)
What five cities in Canada are on his top list for the next 5 – 7 years?
1) Edmonton
2) Calgary
3) Barrie
4) Kitchen-Waterloo-Cambridge
5) Hamilton
Canadian Real Estate Outlook for 2009
Business News Network (bnn.ca) had an interview this morning with Phil Soper, President and CEO of Royal Lepage Real Estate Services discussing the Canadian Real Estate Outlook for 2009.
Historically low interest rates, stable local economies and increasing affordability should support Canada’s residential real estate market during transitioning period.
He stressed that we will see a correction in 2009 and not a crash like we are seeing in the US. Nationally the real estate market peaked in the 4th quarter of 2007 so we are 4 quarters into the “correction” already.
His prediction is a 3% decrease nationally with higher decreases in the bigger cities such as Toronto and Vancouver which will see 4% and 9% declines respectively. Halifax is expected to remain relatively flat with a 1% gain. (Side note: the St. John’s real estate market was not mentioned)
He basically went on to say that the first quarter will be a difficult quarter but will recover in the second half of ’09. I feel that this will be the trend with the Newfoundland market as well.
Mortgage rates are still at all time lows and he pointed out that most buyers are not overly concerned with the “sticker price” on a property but are more concerned with the monthly mortgage payments.
Read the full press release Correction, not crash for Canadian real estate market in 2009; Average house prices forecast to fall 3.0 per cent
Why Canada Needs Capital Gains Tax Deferrals on Real Estate
Canadians are increasingly migrating to regions where new jobs are plentiful, and they must be able to move their assets with them. Households can move their furniture and their stocks and bonds, but not their real estate investments, without substantial tax consequences. Reinvestment in real property should be facilitated so that investors can reposition existing investments without punitive tax measures. The deferral will facilitate more effective management of real estate investment portfolios in recognition of the fact that Canadians are becoming more financially self-reliant in retirement.
The Canadian Real Estate Association (CREA) is recommending to the federal government to amend the Income Tax Act to promote increased reinvestment in real property. The amendment would effect a deferral of both the capital gains tax and the capital cost allowance recovery for all real property investments when an investment property is sold and the proceeds are invested in another real property within the subsequent year. Any proceeds that are eligible but not reinvested, or where such reinvestment does not meet the criteria, would be subject to capital gains tax. (Similar to the United States 1031 Exchange)
The proposal also helps make the federal government an active participant in the regeneration and intensification of urban neighborhoods. This requires properties to be turned over at a rate that is sufficient to promote regeneration.
Recommended Real Estate Links
- Fraser and Stephen Winters
- Remax St.John's
- Terry Kelly
- St. John's MLS Listings
- Carter Home Designs
- St. John's Newspaper
- VOCM Local News
- CBC Newfoundland
- Eastern School District
- St. John's Weather
- St. John's Board of Trade
Real Estate Sites
- Search MLS.ca
- St. John's Listings
- Globe & Mail Real Estate
- Real Estate Blogs Directory
- Canadian real estate
- Home Builders Association
- Atlantic Home Warranty
- Homeplus Online
Recent Entries
- New listings near downtown St. John’s 37 Golf Ave
- Investment property in St. John’s near Memorial University of Newfoundland – 39 Weymouth
- RE/MAX St. John’s & Area Market Share for January to June 2010
- New Listing in Bauline 47a Pouch Cove Line – $209,900
- CMHC St. John’s Area June Housing Starts
- St. John’s Newfoundland Real Estate June MLS Stats
- Executive Home for sale in Paradise – 26 Clarke’s Hillview Street
- New home for sale in East End St. John’s – 76 Berteau
- East End St. John’s home for sale – 14 St. Laurent Street
- New home for sale in Cowan Heights – 15 Harrington Drive
Mortgage Rates
