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St Johns, NL Real Estate News

By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
Housing starts are still doing very well in Newfoundland according to Canada Mortgage and Housing Corporation (CMHC) report.  Today's news release indicated that December housing starts totalled 201 in St. John's compared to 202 in December 2008.  The total for the province in December were 223 compared to 226 in December 2008. Chris Janes, Senior Market Analyst with CMHC in Newfoundland and Labrador said, “The local residential construction industry remained buoyant throughout 2009 and ended the year off just nine per cent compared to 2008’s record pace.  Despite weakness in the global economy in 2009, positive local economic and demographic factors continued to support stable residential construction activity within the St. John’s region, as well as in other urban centres across the p...
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By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
A St. John's Newfoundland Realtor's message to clients and friends for 2010.  Here we are already 10 days into the New Year.  Once again, the real estate market is up and running.  Personally I have been busy with showing homes, marketing my listings and working on ramping up my marketing plans for the next year. I have some new developments on the horizon.  I will add videos of my clients homes to my blog in the very near future.  Thanks to some friends on ActiveRain and to some of my clients who have the know-how, it is just a matter of time.  Here is a snapshot of my new camera.  Its a Canon FS20 with an 8 GB built in memory.  We are going to have fun!   Blogging will be an integral part of my marketing again in 2010.  My goal here is to bring good information to those who are planni...
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By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
Let me tell you why buyers, sellers, and Realtors in St. John's Newfoundland love home inspections.   Why wouldn't they? Home inspectors provide a very valuable service.  Home inspections identify the deficiencies of a home and make sure all parties to the transaction are fully informed about the condition of the home.  In doing so, they help to keep both the buyers and sellers out of court and that always make the Realtor happy.  Here are seven advantages of having a home inspection done before a deal is closed. 1.  All home buyers have a right to know the home condition before they make a final buying decision.  If a vendor neglects to disclose or is simply unaware of a deficiency, the home inspector can help to discover it. 2.  Home inspections provide an objective opinion about the ...
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By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
Bill Cosby will be in St. John's for a good time but not for a long time.  He is coming to the St. John’s Mile One Stadium on December 4, 2009.  The show starts at 7:00 PM and the doors are open at 6:00 PM.  This is a one night only event with one of the funniest family entertainment professionals in America. Tickets are $89.50 and $59.50 including tax, plus surcharge and can be purchased at the Mile One Centre Box Office; by phoning (709) 576-7657, (toll free) at 1-800-361-4595 or online at www.admission.com.    If it is possible that some men are born to make merry, there is no doubt that Bill Cosby was one of them.  Bill has amused and entertained for five decades in all forms of media including live stand up, television, sitcoms, and movies.  In the 1960s, his stand-up act was a sen...
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By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
The Olympic torch was in St. John's, Newfoundland today.  It started at Cape Spear, North America's most easterly point and it marched proudly through the communities of Petty Harbour, the Goulds, Conception Bay South, Manuels, Chamberlains,  Paradise, Mount Pearl, and finally it ended up being paraded to the Confederation building and on through the streets of St. John's, Newfoundland.  The weather was cool and the sky was overcast but there was no wind, rain or snow to be concerned with.  The festivities ended at Bowering Park, in the west end of St. John's, this evening with a real Newfoundland kitchen party that included live music, hot beverages and a super charge of good old Olympic fever.   I managed to catch a glimpse of one relay team and happily they obliged me by posing aroun...
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By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
For sale by owner (FSBO) I will not call you.   Sometimes we Realtors see signs like this.  For Sale By Owner - No Agents Please.   Personally, I never call For Sale By Owners with that sign on the lawn.  And I know lots of other Realtors like me.  We never push ourselves on anyone.  It is one of the qualities of Professional Realtors. I sometimes wonder what you really think about a Realtor that does not call FSBOs.  It is not that we are too busy to call you or that we are afraid to call either.  There is a very important reason why Realtors like me will not call you. I don't call FSBOs with this sign because they asked me to NOT do that.  I have had aggressive sales people contact me and I don't like it any more than you do.  I understand how being agressive can bother people so out ...
Comments 21
By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
Cape Spear, Newfoundland is the most easterly point in North America. A few months ago, I wrote a post about a place not far from St. John's.  That place is Cape Spear, Newfoundland, the most easterly point in North America.  It was called A Badge Of Honour For The Taking.  I was not long blogging when I wrote that post.  My focus was on writing eloquently about interesting places in Newfoundland.  I was happy if my compositions were interesting, informative and perhaps even flavoured with a little bit of whit.    I know some people did read the post, but at the time I was an unknown in the blogging world; a mere neophyte as they say. (Oh you should see my following now!)  So, it was a little disappointing that nobody commented.  Check it out.  You'll see.  At the time I was sure there ...
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By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
This is the Free Home Buyers Resource Manuel for home buyers in Newfoundland.  I have put this together to provide helpful information for the new home buyer.    Sometimes I am asked by home buyers for a package of information that will help them learn about the home buying process.  You will find everything I have posted for home buyers in the past year all linked together in this one place to help you with your quest.  As I add new posts on home buying in Newfoundland, I will continue to build this page with each new link. In the comment section below, please feel free to ask any home buying question that you like.  I will reply to all your question. Lets begin with the following links.   Seven Things You Should Know About Professional Realtors   Search The Multiple Listing Service (...
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By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
The thought of relocating from one address to another is a two move or two house process that can be a little daunting for many.  Let’s call a move a spade and then, let’s call a spade a spade.  There are no easy moves when you must move twice.   For some, just thinking about this is overwhelming. Wouldn't it be nice if we could just wiggle our nose and everything was done in a flash?  Unfortunately we don’t live like Samatha.  Truth is, we don’t even know a friendly witch to call when we have to make that move.  It will have to be done one box at a time.  (If you don’t know Samatha, you probably did not watch the 70’s television sitcom, Bewitched.)  Here is something to remember about buying and selling a home. Buying a new home and selling your existing home is not really a single eve...
Comments 10
By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
In St. John's Newfoundland, a local lender, Mr. John Woodford with the Royal Bank of Canada just sent me an email last evening to say that interest rates have moved up for the major lenders in Canada.  It appears that he knew this was coming since Monday but was not permitted to release it to the public.  I always knew John was a man of principal.  Turns out he is actually a man of principal and interest.  OK, bad pun.  Here is the latest news according to John.  "The 5 year fixed closed rate is now 4.54%.  The 5 year variable open rate is prime + .70 (2.25 + .70 = 2.95%) and the 5 year variable closed (the shining star!) is prime + 0...ie: 2.25%.  The latter is proving to be very popular these days!"  Yes, I should say so.  A five year floating rate at prime is very nice indeed!  I jus...
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By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
As I write, another day comes to a close and a new one will dawn in a few hours.  Each new day is a gift to us all.  The truth is we really don't deserve to have it....we didn't pay anyone for it and we can't change what's done when its over.   We just live in it and we can change it either for good or for not so good. We never know what a day will bring but one thing is for certain.  We should always make sure we do our best for the people we serve.  In truth, doing our best for others is exactly how we do what is best for ourselves.  It's what we call a positive sum game.  Serving others is positive for both the one served and the one serving. I try to live my life to the fullest and make sure I do the very best I can for my clients.  I am not boasting about this because I am sure I d...
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By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
Would you like to search the Multiple Listing Service (MLS) for homes in St. John’s, Newfoundland for free?  Would you like to know all the homes for sale in St. John's that fit your personal criteria?  You can do it, and with no hassle, no driving around waisting money on gas, no reading through pages of advertising, no searching all over the internet and no calling every agent in the book for information.  Just sit back in your chair and have a list of all available homes on the Multiple Listing Service delivered right to your computer.  It’s easy and it won’t cost you a dime.  Home buyers are always looking for information that will help them find the exact right home.  Yet with all the searching through a maze of homes for sale on the market and with looking through the Home Buyers...
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By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
Within the last week, it was reported that Moammar Gadhafi was planning a visit to St. John’s on Sept 29th.  His plane was to refuel at the airport and perhaps these visitors would take in a few sights and snap a few photos of the oldest city in North America.  It’s not a wonder that they would like to visit Newfoundland.  Most who haven't would and many who have visited the beautiful province long for the day when they can return. But, it’s not every day the capital city St. John's is visited by a dictator of notoriety such as Moammar Gadhafi.  As he would be streaming a team of trained killers and packing an arsenal of weapons at the side, the scheduled event was catching quite a bit of attention.  Needless to say the city was in a stir.  The prevailing question that was on many peopl...
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By Stephen Winters
(Remax Realty Specialists)
What a great summer we are having (or is it had).  Unfortunately you can feel the nights getting colder.  On that note, it might be a great time to think of ways to make your home more energy-efficient AND receive grants through the ecoENERGY Retrofit Program. There you can find a list of improvements and retrofits that are eligible under the ecoENERGY Retrofit - Homes program and the corresponding grant amounts. The maximum grant you can receive for a home is $5,000.  Don't forget the Home Renovation Tax Credit.  You can claim a non-refundable tax credit on your 2009 income tax return based on eligible expenses incurred for work performed or goods acquired after January 27, 2009, and before February 1, 2010 resulting in a maximum tax credit of $1,350.  Here is a break down by area for...
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With the worst of the recession over, residential real estate markets in major Canadian centres are poised for growth in the final quarter of 2009, according to a report released today by RE/MAX. The RE/MAX Bricks and Mortar Report found the bounce back that began in early Spring has made this recession one of the shortest on record for real estate. Low interest rates, pent-up demand, and improved affordability levels have all played a role in the recovery now well underway. Percentage increases in sales from January to August 2009 were led by Vancouver, (up a substantial 14 per cent to 23,158), Victoria (up 7.4 per cent to 5,266), Edmonton (up 6.2 per cent to 13,691), Regina (up five per cent to 2,597), Ottawa (up 2.4 per cent to 10,830) and Toronto (up 1.8 per cent to 58,421). Housing...
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By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
Most of us know the value of a good education today.  Without a degree it is often difficult to get meaningful employment at anything other than serving hamburgers, cleaning hotel rooms or mowing lawns.  Competition for well paying jobs has increased and though for a while many workers could move just about anywhere and find meaningful work, the recent recession has changed that picture quite a bit.  Now even some of the well educated have found job hunting a necessary life skill. A few weeks ago, I noticed a mother introducing her little ones to the merits of Memorial University in St. John's, Newfoundland.  It seems even the local water fowl are now taking note of the benefits to a good education.  While passing along by the university, I noticed this mother with her young brood walke...
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By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
On July 8, 1892, St. John's, Newfoundland was devastated by a fire that destroyed nearly all the homes and businesses in the east end of the city.  The high winds that day, the incomplete repairs to the water supply system and the simple incident of dropping a pipe in Timothy O'Brien's stable at Freshwater Road at the top of Carter's Hill ushered in what would become the worst fire in St. John's history.  Together these events combined to create the calamity that leveled much of the city turning it into rubble and soot within twenty-four hours.  The fire spread and devoured virtually all of the houses and buildings in its path, as well as much of its major commercial area before being extinguished.  It is known as the Great Fire of 1892.  There was an estimated $13,000,000 of damage don...
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By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
This is a good time to own or buy rental properties in Newfoundland....at least when it comes to finding a tenant to rent from you.  Canada Mortgage and Housing Corporation’s (CMHC) survey of rental accommodations conducted during the month of April indicated that vacancy rates for private apartment structures containing three or more units were lower throughout the province in all centres surveyed.  According to Chris Janes, Senior Market Analyst-NL, the overall vacancy rate in the province was 2.0 per cent during the April survey, with 106 of the 5,285 units surveyed sitting vacant.  This represents a reduction of 1.2 percentage points from last April’s rate of 3.2 per cent.  The vacancy rate was highest in Bay Roberts CA (Census Agglomerate), while the lowest vacancy rate recorded wa...
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By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
The Battery is known as a small residential area within the city of St. John's, Newfoundland.  Situated at the entrance to the harbour and located on the slopes of Signal Hill the Battery is noted for its steep slopes, colourful houses, and its importance as a station for defense of the St. John's harbour during both World Wars. The Battery is also where Chain Rock is situated.  Chain Rock is an outcrop to which a large chain and anti-submarine boom was attached connecting Pancake Rock on the opposite side of the harbour at Fort Amherst.  This boom was installed to prevent the entry of German U-boats into the harbour during World War II.  The space between the two rocks is 174 meters.  Chain Rock and Pancake Rock were used as early as 1770.  A chain was stretched between both rocks by m...
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By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
One attractive feature of living in St. John's is the interesting walking trails throughout.  Many people use the trail system and appreciate it for convenience, the wonderful scenery and the length of walks available.  It is so easy to walk out your front door and be scooting briskly around some pond, traveling the meandering of a beautiful brook or wondering through a park like settings.  Sometimes within a few minutes some people who live close enough can be bounding through the forest of Pippy Park. The Rennies River Trail is just one of those walks.  It meanders along the Rennies River which cuts through the city.  The complete walk will take about 40 minutes from start to finish so a return trip will run you about an hour and a half.  The trail weaves through lots of large trees, ...
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