Real Estate News Archives - Kawartha Waterfront Realty

Home sales slowed in March

Thu, 04 Apr 2019 15:00:08 +0000

Home sales in Kawartha Lakes were slow last month.

MyKawartha reported, "According to the association, this was down 4.5 per cent (four sales) from March 2018 and marked the lowest March sales figure since the late 1990s."

We expect that sales will rise once the weather warms up. Summer is a great time to buy or sell a home in cottage country! If you're trying to buy or sell a waterfront property in the Kawartha Lakes region, give us a call!

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Why now is a great time to look for a cottage

Tue, 02 Apr 2019 15:00:09 +0000

What's the best time of year to buy a cottage? The Toronto Sun argues it might be early spring.

They said, "If you’re thinking about buying a cottage, be prepared to begin your search as soon as the snow starts to melt."

Getting your search started early will ensure that you can see more properties before they sell. It also means you aren't buying during the peak summer season which can be more expensive.

When looking for your cottage think about all aspects. Is it just for you or will you rent? Do you want to be on a big lake or small lake? Do you need year-round access or is seasonal ok? Good luck with your search!

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Current state of home sales in Kawartha Lakes

Wed, 27 Feb 2019 15:00:06 +0000

Kawartha 411 reported that the home sales in Kawartha Lakes are at their lowest since the '90s.

However, it's not all bad news! They said, "Residential home sales were up almost 20% in December 2018 with 69 units sold. This was an increase of 19% (11 sales) from December 2017. Activity has been steadily improving since hitting last year’s low point in May."

Managing expectations and knowing the market is important. We're happy to help you through this process whether you are a buyer or a seller!

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What will happen if the Toronto bubble pops?

Tue, 05 Feb 2019 16:00:08 +0000

There's a housing bubble in Canada right now, especially in Toronto.

The Motley Fool highly doubts the bubble will pop in 2019. They said, "Some analysts — myself included — think the likelihood of a major housing correction in 2019 is unlikely. There are simply too many long-term factors helping to push prices higher in our major markets."

However, there is always a risk!

This is a good time to be careful about your investments, and potentially identify other areas to invest in.

Click the link to learn more!

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What you need to know about prefab cottages

Tue, 15 Jan 2019 16:00:07 +0000

It seems like prefab cottages are the hot topic these days, but are they actually a good idea? They are actually often difficult to get permits for and legally build. Cottage Life says, "know your zoning to ensure the building you plan to purchase is permitted; confirm with the manufacturer that the unit you are purchasing is compliant with the applicable standards for your lot and check in with the local planning department on any other approvals you might need—building permits, conservation approval or permits for the sewage system are still needed with prefab units." Also, make sure that everything you need is included in the price. Especially in our area it's not a good idea to skip out on important things like insulation! Definitely do your research when considering a prefab cabin – chances are there's an existing cabin that only needs a few tweaks to fit your needs perfectly.

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Home sales increasing in Kawartha Lakes

Wed, 09 Jan 2019 15:00:09 +0000

Home sales are on the rise in Kawartha Lakes! December of 2018 showed 19% more sales than December of 2017. MyKawartha reported, "The association reporters that overall supply is still historically subdued but is up from the extreme lows seen in 2016 and 2017. Active residential listings numbered 246 units at the end of December, up 29.5 per cent from the end of 2017 but well below the end of most other years in history." Though 2018 was a low year for home sales, we can already tell 2019 is going to be a great year! We are here to help make that happen.

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Current status of the markets

Wed, 19 Dec 2018 15:00:07 +0000

Which areas are buyer's markets? Which ones are seller's markets? Toronto Storeys has the numbers. They said, "CREA,the Canadian Real Estate Association, considers ratios between 40 and 60 per cent to be balanced. Which means, at 56 per cent, Ontario has a balanced market. But in the province, the ratio varies widely by region." Peterborough is listed as a seller's market with an average home price of $419,799. What does your area look like on this map? If it's a seller's market, maybe it's the right time to make the move to cottage country!

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Navigating time sensitive real estate offers

Tue, 02 Oct 2018 15:00:07 +0000

Can a real estate sales agent really promise to buy your house if it doesn't sell within a certain time frame? Yes, however this might not always be the best option. This arrangement doesn't always work out as expected, so make sure you speak with a lawyer and fully understand the terms. If you do need to sell your house quickly, this could definitely be a good option – as long as you are informed. The Star said, "When a registered salesperson or broker gives you an offer to purchase your property for their own use, they must give you written disclosure of information, such as whether they are buying it for themselves or a related person; any facts that may affect the property’s value; and any plans they may have for it."

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Sold prices to become public

Thu, 27 Sep 2018 15:00:10 +0000

You should soon be able to access the sold prices of homes without having to pick up the phone. The Star reported, "The Toronto Real Estate Board (TREB) has turned on the sold data tap, officially allowing brokers to post the selling prices of homes on their password protected websites, it told its members on Tuesday. That means consumers should soon be able to access the selling prices of homes directly through a broker’s website, rather than calling a real estate agent." Hopefully this will increase transparency and decrease confusion! Click the link to read more about how they came to this decision.

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Real estate in a will

Wed, 26 Sep 2018 14:00:09 +0000

When it comes to real estate in a will, it usually makes the most sense to probate it. MoneySense said, "You also ask if you must apply for a Certificate of Appointment of Estate Trustee with a will. This is a specific Ontario term. Ontario uses gender-neutral terms such as ‘estate trustee’ with a will or without a will." Including real estate in a will can be tricky business, so it's often best to meet with professionals and discuss the options when writing the will.

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