If you're receiving mixed messages regarding the economy lately well join the club. The Canadian economy is performing brilliantly right now, the best in the G8 or is it the G20? The first quarter GDP came in with an amazing and unforeseen 6.1 per cent growth. Although inflation isn't a problem yet you can bet that interest rates will rise if our economy maintains this torrid pace. On the other hand if you believe the news, the crisis involving Greece and other members of the European Union threatens to plunge us into the second half of a double-dip world recession. It's true that Canada did weather the storm better than just about any other country during the recent economic crisis and our current economy is the leader of the pack (vroom, vroom).But the thing that scares me is that by ... 06/03/2010

Could Early Spring Mean Early Summer?  Those of you who are regular readers of my market update may recall that back in February we were enjoying spring-like market conditions. It was the hottest February for real estate in recent memory and local Realtors who were more than ready for the end of the recession were delighted with the early arrival of the spring market. Buyers and sellers wanting to avoid the impending HST plus a general economic recovery stimulated our local market which lead to record sales and market conditions typical of April or May. After a very strong March where market conditions continued to improve, April's numbers look a little lackluster. This makes me wonder if summer might arrive early this year as well. The real estate market typically slows down a little d... 05/03/2010

Canadian banks sent a clear signal that the era of rock-bottom interest rates is over by hiking mortgage rates this week, a move that will cost Canadians more to finance home purchases and could hasten a slowdown of the red-hot housing sector. Surging home sales and prices may cool in the second half of this year due in part to the implementation of the Harmonized Sales Tax in July. The new tax will increase costs for home buyers in Ontario for new homes over $400,000 and for related services such as real estate commissions, home inspections and lawyer's fees. The double whammy of an increase in mortgage rates plus the HST could result in potential buyers staying out of the housing market at least for the short term. Historically Guelph's real estate market has been resilient to the ups... 04/01/2010

Imagine putting your home up for sale and after two days on the market you receive eight offers and sell well over asking price. I know that sounds too good to be true but that's exactly what many fortunate sellers in Guelph experienced in February. Following a strong fourth quarter when the Canadian economy grew by 5 per cent, the biggest rebound in nine years, Canadians are feeling more positive about the economy. A recent consumer outlook index showed growing optimism last month, with 62 per cent now saying they expect the economy to improve in the next year. Consumer optimism was evident locally as buyers willing to out-bid each other hit the streets and bought practically everything in sight. Spring had definitely come early as 33% of MLS sales sold for full price or more. But was ... 03/03/2010

I'm proud to announce that Dean Manton, Real estate Broker with Re/max Real Estate Centre Inc. is Guelph's newest Greenbroker and a member of NAGAB!  What is NAGAB? The National Association Of Green Agents and Brokers (NAGAB) is Canada's largest Non Profit association of GreerealestateTM Real Estate representatives. The Association is committed to promoting ways and means of reducing green house gas emissions, increasing building energy efficiency, conservation, overall sustainability and environmental awareness. The association offers a GreenrealestateTM program for real estate representatives leading to the commercial and residential Accredited GreenagentTM and Accredited GreenbrokerTM (AGATM & AGBTM) designations. Greenrealestate®; designees provide a means by which consumers are abl... 02/10/2010

Calgary, Waterloo, Ottawa, Vancouver, St. John's, and Richmond Hill, Ont., top the Conference Board of Canada ranking of the country's most attractive cities to migrants, the Globe and mail reported in January. These cities have "what migrants are looking for when choosing where to locate," according to the Conference Board's second report on the topic. It analyzed 50 Canadian cities based on 41 indicators including health, economy, environment, society, education, innovation and housing to rank the places most attractive to skilled workers and mobile populations. "Cities that fail to attract new people will struggle to stay prosperous and vibrant," said Mario Lefebvre, director of the Centre for Municipal Studies, in the report" The six top cities all got an "A" grade in the report. Fo... 02/01/2010

Two Tales of a City  One look at December's sales statistics and you can clearly see a huge change from a year ago. December 2008 had us waist deep in the global recession and while banks and automakers were being bailed-out south of the border our local real estate market was pretty much non-existent. Total sales for the month had trickled to an all-time low and while Stephane Dion enjoyed a cup of coffee as the Federal Liberal leader the average days on market for MLS listings slowed to a snail's pace and the amount of active listings for sale began to pile up. Was the market transitioning into the first buyers market that we had seen in more than a decade? It certainly looked that way.  Fast forward to December 2009 and things couldn't be more different. MLS sales are up 63% from las... 01/04/2010

I bought a new townhome over the holidays! It's really great! It's 3 storeys with an elevator. The 3rd floor has a huge sky-light and a walkout to a terrace with a hot tub. In the living room a flat screen TV pops up from behind the fireplace. The chef's kitchen includes top of the line stainless steel appliances and the dining room features a gorgeous chandelier. My daughters just love it and so do Barbie & Ken! Happy New Year and have a happy and prosperous 2010!   12/30/2009

         Are you planning to sell your home in the new year? Here are some important tips that will help you to get your home ready for sale.         Less is more - pare down to the important pieces of furniture with a few accessories. Have one photo only of yourselves and your children. Clear everything off the kitchen countertops. Make the kitchen feel as open as possible. Have the windows washed to let in more light, making the home feel cleaner and well-maintained. Put money into things that buyers will touch, such as doorknobs, cabinet handles, rugs, curtains and carpet. Plant fresh flowers in a pot next to the front door. Ensure that the lawn is well-maintained and trees and bushes are trimmed. Don't use scented candles or air fresheners - you never know if someone is allergic to ... 12/16/2009

The economy may be uncertain but well-priced homes in good condition are still selling.  When it comes to selling your home in a challenging market, the basics still apply: 1) The home is too "lived in" and lacks visual appeal. Clean everything and lose anything personal. What's personal? Anything you wouldn't consider leaving for a new owner to enjoy. 2) The home lacks style and freshness. Would IKEA, Sears, or The Bay recognize any of your furnishings? If your grandmother likes your décor chances are it has NO current style. 3) The furnishings and layout make the property appear small. Do you like a huge, king size bed? Guess what... a single bed--even in a master bedroom--will appeal more to buyers than your masterpiece of wood and metal. 4) The kitchen and bathroom are dated and wou... 12/08/2009

In today's real estate market finding the right home can often be a time consuming process. Because of this, buyers who have lost their patience waiting for the next listing to come up in their price range may find themselves considering a privately sold home. Other buyers may feel that they are getting the inside track on a property that few people know about or have found a great deal because the seller isn't paying commission and therefore is able to sell the home under market value. Any of these reasons may be valid but in every case the buyer is exposing himself to serious risk as well. One of the advantages of buying a MLS listed property with a realtor is that the Realtor or Realtors involved in the transaction are accountable if anything goes wrong. A Realtor's duty to both buye... 12/07/2009

Most Guelphites that I talk to are proud of their city and have an innate sense that it's a special place to live but the amount of accolades recently achieved by the Royal City would make even the most ardent Guelph-booster blush.  Apart from being named among the top 10 places to live in Canada, Statistics Canada recently named Guelph Canada's safest city. Based on volume and severity of police-reported crime, Guelph didn't just edge out other Canadian cities, it won by a mile! But what makes Guelph so safe? Is our police force better trained than those in other cities? Are our politicians wiser than other politicians? I think it has a lot to do with the fact that Guelph was also named Canada's most caring Canadian city by McLean's Magazine. That's right! The "Volunteer Capital of Can... 12/07/2009

Are you planning to sell your home this coming year? If you are you won't be alone. The amount of listings that come on the market is predicted to climb in 2010 and approximately 70% of these will actually sell. Even though you'll be at the mercy of some market trends, the one factor that you can take total control of is the condition your home is in. Once the for-sale sign hits the front lawn, you won't get a second chance to make a good first impression. The key to success is to transform your home from living condition to showing condition before the buyers step on the welcome mat. Many sellers hit the market with properties that are poorly prepared or not prepared at all. The result is longer selling times, loss of equity or not selling at all.  Here are ten simple steps you can tak... 12/03/2009

What a Difference a Year Makes  Thinking back on last November, Barack Obama had just been elected president and Canadians found themselves about to be unwilling participants in the global recession. Depending on who you talk to around Guelph, the recession turned out be much ado about nothing or really had some serious economic teeth. Our local real estate market seemed to feel the effects almost as soon as Stephen Harper begrudgingly admitted that not only was Canada's economy headed for recession, it had already been there for months. Total MLS sales from last November were an astoundingly low 88. That means for the majority of Guelph's 450 Realtors it was a very dry month. The average days on market for MLS sales had increased to 47 and the listing inventory also swelled to 459 home... 12/01/2009

A new report from the Canadian Real Estate Association (CREA) shows the market tighter than ever with the lack of supply of new listings conspiring to make a hot market even hotter. CREA said Thursday the average sale price of a house in Canada reached $331,602 last month, a 13.6% increase from a year ago. There just isn't enough new product coming to market to meet demand. Last month, there were 80,816 new listings across the country, compared to 97,657 a year ago. The supply problem is happening in almost every major Canadian city. The same things continue to drive the housing market. Low interest rates, rebounding consumer confidence and improving overall sense of economic security. Our local statistics tell the same story. Sales figures are up over last year in every category except... 11/02/2009

Our local real estate market has been in a state of transition since June when we started to pull out of the so-called recession. But the most significant change took place during September when what we were calling a recovery turned into a full- fledged seller's market.  At first glance our stats for last month paint the portrait of a typical September. Total sales are just slightly over last year, average days on market just a few days quicker and the average sold % of list price just a fraction more than September /08. But our good friends Supply and Demand have been hard at work and as a result the true market picture is starting to favour the seller.  The main reason for this quick vendor-friendly transition is that our inventory of homes-for-sale is at the historic low of 309 home... 10/02/2009

Realtors Lead Economic Recovery Statistics Canada reports that Real Estate Agents are helping to lead the country out of the recession. I say bravo! Who better than a group of hungry Realtors to loosen the purse strings of the nation. Canada's economy grew for the first time in 11 months in June, providing a glimmer of hope at the end of a period that still marked the country's third consecutive quarter of economic contraction. The Gross Domestic Product increased 0.1 per cent in June from May, led by the oil and gas industry, wholesalers and real estate agents, Statistics Canada reported Monday. Statscan's latest GDP figures reinforce the Bank of Canada's outlook. The central bank predicted last month that Canada's first recession since 1992 would end this quarter and begin a long, slo... 09/01/2009

What’s so great about Guelph? Most Guelphites that I talk to are proud of their city and have an innate sense that it’s a special place to live but the amount of accolades recently achieved by the Royal City would make even the most ardent Guelph-booster blush. Apart from being listed among the top 10 places to live in Canada, Statistics Canada recently named Guelph Canada’s safest city. Based on volume and severity of police-reported crime, Guelph didn’t just edge out other Canadian cities, it won by a landslide! But what makes Guelph so safe? Is our police force better trained than those in other cities? Are our politicians wiser than others? I think it has a lot to do with the fact that Guelph was also named Canada’s most caring city by McLean’s Magazine. That’s right! The “Volunteer... 08/05/2009

Is it over? How do you know when a recession is over? If you're waiting for someone to announce it from the top of the highest hill you'll probably be getting the news about 6 months too late. Just like when we heard we were in a recession, we had been in one for about 6 months. Whether we're riding a death spiral into or climbing out of a recession you can bet that the official announcement will be delayed until the experts are absolutely sure. According to a recent report from the Bank of Canada, the country's recovery from the recession will be shaped more like the steady curve of ‘a hockey stick' rather than bouncing back like a V.  Regardless what shape the recovery takes the fact that people are now discussing an economic recovery rather than the recession is a good indication tha... 07/06/2009

                Real Estate & I-PODS   My 3 year old daughter asked me for an I-POD recently. She obviously isn't aware that we're in the middle of "The worst recession in 50 years". Or at least that's what they're calling it now. I'm going to wait a little bit longer before I call it anything because I think things are going to get a lot better or a lot worse very soon depending on what happens with GM, Ford & Chrysler. The outcome of this on-going drama will have a profound affect on what happens locally and across the province. This week Air Canada and Bombardier joined the list of Canadian Companies that are taking it on the chin. For the first time since the market peaked in August 2008 the monthly average sale price was significantly lower than what it was a year ago. (- 2.5%) Whi... 04/07/2009