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Non-Financial Benefits of Home Ownership Homeownership is so much more than a financial decision.  There are two major questions on buyers’ minds in today’s market: Though prices have been decreasing for a few months, How Low Will Prices Go?  Interest rates have increased considerably, and though the rate held in the last BOC announcement, the question is: When will rates start […]
Sales Stats Niagara MLS Stats: 12-Month Price and No. of Sales to January 31, 2024 The following chart displays the number of sales for 12 months to January, 2024 vs. 12 months prior. The CREA HPI Benchmark Prices are also for 12 months to January 2024 vs.12 months prior. The Home Price Index tracks price fluctuations more accurately as opposed to average or median prices which can be skewed depending […]
Uncategorized Niagara MLS Stats: 12-Month Benchmark Price to December 31, 2023 The following chart displays the number of sales for 12 months to December 2023 vs. 12 months prior. The CREA HPI Benchmark Prices are also for 12 months to December  2023 vs.12 months prior. The Home Price Index tracks price fluctuations more accurately as opposed to average or median prices which can be skewed depending […]
Seller Resources The Risks of Virtual Staging of Your Home About Photo Enhancements and Virtual Staging Professional listing photos can inspire buyers to want to see the home. However, virtual staging through various forms of technology can have a negative impact on buyers once they see the home. Digital vs. Physical, On Location Staging Online staging companies can offer online furniture placement and the promise […]
Buyer/Seller Resources Prices Are Coming Down and So Are Rates On a regional basis, the HPI Home Price Index has fallen every month since August and into November. Specifically, the price drops were as follows: Monthly HPI Price %’age Change Jul-23 $667,600   Aug-23 $660,900 -1.0% Sept-23 $651,700 -1.4% Oct-23 $639,900 -1.8% Nov-23 $635,400 -0.7% Aggregate Loss -4.9% As noted, these downward fluctuations in price […]
The 5-Yr Buy & Hold Rule Builds Wealth Pt.1 Over the last number of months real estate values have no doubt been declining resulting in a wait and see for many. We all know that the rise in interest rates, soaring prices, plus other factors have contributed to this market reaction. And, predictions by experts are all over the map. Can You Predict When […]
Sales Stats Niagara MLS Stats: 12-Month Benchmark Price to August 31, 2023 The following chart displays the number of sales for 12 months to August, 2023 vs. 12 months prior. The CREA HPI Benchmark Prices are also for 12 months to August 2023 vs.12 months prior. The Home Price Index tracks price fluctuations more accurately as opposed to average or median prices which can be skewed depending […]
Uncategorized The Challenge of Mortgage Renewals With the rise in interest rates, mortgage holders may be challenged by the subsequent increase in monthly payments on renewal of their mortgage. The Financial Consumer Agency of Canada (FCAC) is urging lenders to work with clients to help manage the effects on their mortgage. Extending Amortization Some lenders are putting into practice one of […]
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Buyer/Seller Resources When Is Holding a Mortgage Possible? This article spotlights a Seller Take-Back Mortgage. That is when a seller is in a position to offer to hold the mortgage for the buyer. When is this Alternative Possible? Here are 7 Situations. Possibly the seller is eager to sell but interest is low due to market conditions; It can be entertained when a […]
Niagara MLS Stats: 12-Month Benchmark Price to July 31, 2023 The following chart displays the number of sales for 12 months to July, 2023 vs. 12 months prior to July 2022. The CREA HPI Benchmark Prices are also for 12 months to July 2023 vs.12 months prior. The Home Price Index tracks price fluctuations more accurately as opposed to average or median prices which can […]
Competing Offers, Part 2 In our first article on competing offers, we pointed out the process as directed by RECO, the Ontario Regulator. Here we cover some misconceptions and hopefully clarify common issues with the following Q&A. Is Proof of Presentation Required?  In competing offer situations, some buyers can be disappointed in being told another offer was accepted over […]
Competing Offers: The Process, Part 1 Competing Offers Have Resurfaced on Selected Properties Spring has once again given rise to competing offers, mostly in price ranges that are affordable to the greatest number of buyers. So What is the Process for Offer Presentations Under Ontario regulations, an offer must be conveyed to the seller as soon as is reasonably possible unless […]
Seller Resources Conditional Offers: They’re Back Many buyer offers today are back to including conditions such as financing, home inspection and the sale of the buyer’s property. It is sound due diligence that should be taken. But Here is What is Puzzling A buyer makes an offer on condition that they are approved for mortgage financing. Yet the seller, the seller’s […]
Sales Stats MLS Stats for 12 Months to January 31, 2023 by City The following chart displays the number of sales for 12 months to January 31, 2023 vs. the prior 12 months. The CREA HPI Prices are also for 12 months to January 31-23 vs. the prior 12 months. The Home Price Index tracks price fluctuations more accurately as opposed to average or median price which can […]
Foreign Buyer Ban on as of January 1, 2023 The Federal Government’s Prohibition on the Purchase of Residential Property by Non-Canadians Act will be in effect as of January 1, 2023. Who Does it Prohibit Foreign Individuals: The Act prohibits non-Canadians from buying for two years. So if an individual is not a Canadian citizen, is not a permanent resident or is not registered […]
What are the Major Exemptions for Canada’s Foreign Buying Ban The following is a list of exemptions within the Foreign Buyer Ban regarding the purchase of residential properties in Canada. Who is exempt? International students who have filed tax returns for the past five years and have spent the majority of the past five years in Canada are excluded. In addition, the purchase price of […]
Buyer/Seller Resources MLS Stats Year to Date in Niagara From Jan. 1, 2022 to July 31, 2022 vs. the same period last year. YTD to July 31-22 vs. Same time Last Year No. Unit Sales 2022 No. Unit Sales 2021 % Change No. Sales Avg. Sales Price 2022 Avg. Sales Price 2021 % Change Avg. Sales Price Fort Erie 383 609 -37% $775,685 $637,798 […]
Buyer/Seller Resources Impact of a Shifting Market Investors Purchased 90% of New Supply Back in January, 2022, Better Dwelling reported that up to 90% of new real estate supply was purchased by investors due to cheap credit. These are non-owner occupied houses. The information derived from Statistics Canada defines such a purchase “as a home that’s “vacant, rented out to others, or […]
How to Save with Higher Rates & Lower Prices With the market indicating reduced prices and higher mortgage rates, the following might serve to give a buyer a different perspective on affordability. The Drop in Prices As mentioned in the Century 21 Today June Newsletter, the overall average price in the Niagara region has changed. February represented the highest average price at about $872,000. […]
Is Co-Ownership Buying Coming to Niagara Has The Time Come for Niagara Residents? With prices in Niagara soaring, the prospect of home ownership is slipping away for some local residents. So the time has come for some to embrace the concept of co-ownership. Co-ownership is not a new idea as it is being employed in BC and in Toronto, as well […]

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