New Addition to the Father And Son Team

July 15, 2009 · Filed Under Market Trends and St. John's Real Estate · 1 Comment 

Well, it’s been a few weeks since I’ve posted anything on my blog, but all with good reason – It’s a baby boy!  Nicholas Winters is the quasi new member of the Father and Son Team.  Or is it Grandfather and Father Team now.

The St. John’s Real Estate Market average house prices are still slowly increasing.  Up to approx $211,000 now.  CHMC haven’t released this quarters stats yet but I’d be curious to see if the trend has shifted from a buyers market to a balanced market.  It does feel more balanced out there on the street.  Active listings are still up in number but buyers are plentiful as well.

The local St. John’s housing market has been in the news the past week.  I’ve watched news clips on both CBC News and the NTV Evening News.  Both reports positive market conditions.

RE/MAX has released a press release titled Recovery underway in key Canadian markets ends buyer dominance in resale housing, says RE/MAX which boasted even more positive news for the St. John’s market.  You can read the St. John’s Market-by-Market review here.

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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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Innovative new program helps homeowners secure the value of their biggest investment

April 24, 2009 · Filed Under Real Estate Canada and Remax Newfoundland · 1 Comment 

As home sellers in St. John’s real estate market adjust to increasingly competitive market conditions, RE/MAX has launched Fit To Sell, a timely program designed to secure a quick sale for top dollar.

“In the past two months, hundreds of homes have been listed for sale, but only 40 per cent have sold,” explains Michael Polzler, Executive Vice President, Regional Director, RE/MAX Ontario-Atlantic Canada. “This innovative new program encourages existing homeowners to increase their stake in the home-selling process by working with their real estate professional to maximize their homes’ potential.”

The launch of Fit To Sell coincides with the opening of the St. John’s Home Show, scheduled for April 30 through to May 3, at the Mile One Centre. RE/MAX will be presenting its Fit To Sell tips, developed with the help of popular staging expert Carla, host of the DVD series ‘How to Stage your own Home’ and owner of Nex-Step Design, at the event.

“We know that location, price, and condition are the three major factors that come into play when selling a home – and while location and price are clearly choices made by the buyer at the onset, condition is the one factor that a seller can influence,” says Polzler. “Sellers who make the right decision in preparing their home for sale can significantly improve their bottom line.”

Check out the Fit to Sell website www.fittosell.ca for a comprehensive package of videos and checklists to get top dollar for your St. John’s home.

Be sure to fill out your online ticket for a chance to win a $25,000 Viking Kitchen through the RE/MAX Ultimate Viking Kitchen Contest.

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26th Annual Home Show at Mile One Presented by RE/MAX

April 19, 2009 · Filed Under St. John's Real Estate · 3 Comments 

Don’t miss Newfoundlands largest building and renovation home show. April 30th to May 3rd RE/MAX is proud to present the 26th Annual Home Show at Mile One Centre.  Brought to you by the Canadian Home Builder’s Association – Eastern Newfoundland.

Home Show 2009 is organized by the Canadian Home Builders’ Association – Eastern Newfoundland (CHBA-EN) to provide a meeting place for consumers and professional members of the residential construction industry.  A primary focus for the Show organizer is the sharing of information on energy efficiency, healthy housing, and the value provided by contracting with professional product & service providers.

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RE/MAX St. John’s Real Estate Market Share

January 19, 2009 · Filed Under Remax Newfoundland and Remax Reports · 1 Comment 

remaxmarketshare2008

The stats have been tallied and once again RE/MAX is leading the way in market share for St. John’s and surrounding areas.  Over 40% of the real estate business in St. John’s is being transacted with RE/MAX Realtors and the RE/MAX branding.

As reported back in July for the first two quarters in 2008 for  St. John’s real estate market update, RE/MAX has been consistantly hovering near 40%.  In fact for over 5 years I’ve seen RE/MAX going from the mid thirties and up.

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St. John’s Real Estate outlook for 2009

January 5, 2009 · Filed Under First Time Buyers, Market Trends, St. John's Investments and St. John's Real Estate · Comment 

The first week of business for 2009,for me anyways, and already people are asking the million dollar question….where will the housing prices be in 2009?

As in most years, it’s difficult to predict.  Last year CMHC predicted 6% and RE/MAX stated at least 12%.  I remember saying after the first quarter we’ll see much higher then 12%.  The final tally for 2008 is not yet in but should be close to 23% in my opinion.

Now….where do I see the St. John’s real estate market for 2009.  Currently my mind is set at a 5% increase from 2008.

How can I say this with the US housing market expecting to drop even more, Canadian markets are predicted to lower in some areas, and the UK, no real direct relation, but the world housing market seems to be taking a hit right now.  It all boils down to consumer confidence, the provincial economy and a balanced market.  All three we are seeing in Newfoundland currently.

There are still a lot of sale pendings left over from 2008 that will help keep the numbers up for unit sales in 2009, but there is clear evidence that it’s no longer a seller’s market.  With mortgage rates still at VERY low levels, as well as increased inventory in new construction and pre-existing homes, this will leave more choices for buyers.

Personally I do not see the market going into the negative numbers, but I do see houses sitting longer on the market and “price reduced” signs being more familiar then “sold signs”.

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Threat of global recession hinders home sales in major Canadian housing markets in 2008 and 2009, says RE/MAX

December 3, 2008 · Filed Under Real Estate Canada and Remax Reports · Comment 

Mississauga, ON (December 3, 2008) – Global economic uncertainty weighed heavily on residential real estate activity in most major Canadian centres during the latter half of 2008. Although the forecast for 2009 promises more of the same, most markets are expected to weather the storm, says RE/MAX. “Housing market performance will clearly be contingent on economic performance at a local, provincial, and national level in 2009,” says Michael Polzler, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada. “Issues affecting the overall economy are impacting housing markets across the country and the situation is not expected to be remedied until consumer confidence is restored. That said, we could see a bounce back as early as spring – if inventory levels remain stable, pent-up demand kicks into gear, and lower interest rates stimulate home-buying activity.”

Click here for the RE/MAX Press Release

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