Volume #7, Issue #49
December 16 - December 31, 2016
l Your Loca
s g n i t s i L
E AT -D ST O P-T ATE Y U HE L A T T S TH WI s use -ho n e op ca/ ar. gd
page 7 Open Houses page 8 Local Market Stats Stay Connected! to your local REALTORS® Follow our
feed @_GDAR_ and like our
page at “theRealEstateUpdate”
Read the online edition at www.GDAR.ca — Updated weekly!
GuelphHomes.com Put my 35 years of marketing and negotiating experience to work for you. “We honestly couldn’t have been happier with the service and results. Steve was ‘hands-on’ helping prepare the house for sale, and the quality of the staging and virtual tour he arranged were simply excellent, as was his approach to promoting the property. It sold in less than a week for 99% of the asking price - and he was there to help with all the after-sale issues as well.” — Penny & Murray W., Guelph > Keswick
Steve Dawkins Broker
“Our experience with Steve both selling and buying was great. He was always there for us, his follow up, advice and execution second to none. He turned what can normally be a trying time into an enjoyable experience. I do not write testimonials often. He earned every dollar of his commission, and I would not hesitate to have him on my side again or work with my close friends.” — Daryl & Judy W., Guelph “Steve is a professional, hard-working agent who definitely puts his clients first. He was extremely patient, and listened to our feedback throughout the whole process. As a result, he found us the right home for our unique needs. Steve can be trusted to guide you through the process of purchasing a home.” — Basia & Jack Z., Brantford > Guelph
Direct: 519-827-8434 | Office: 519-837-1300 | Toll-Free: 1-855-95-REMAX | steve@dawkins.ca
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December 16 - December 31, 2016
Your Local Listings by REAL ESTATE UPDATE
Guelph & District Association of REALTORS®
The Allen Group www.royalcity.com 519-821-6191
serving Guelph, Hamilton & Toronto
Publisher The Guelph & District Association of REALTORS®
Production and Creative Design Craig Design • (519) 955-4416 • realestateupdate@gdar.ca
Printed Distribution & Circulation Inquiries J.P. Abbott Distribution Services Ltd. • (519) 821-3206 QUESTIONS or CONCERNS about Distribution: Please call J.P. Abbott Distribution Services Ltd., 519-821-3206 with details.
REAL ESTATE UPDATE is printed & published every Friday and is also available in an online weekly digital edition at www.GDAR.ca. This issue is 8 pages without any inserts and available at convenient pick-up sites.
REAL ESTATE UPDATE is distributed free of charge through “green” outdoor pick up boxes and key distribution partners which include real estate brokerages, retail outlets, restaurants, professional businesses, and community centres throughout Guelph and Wellington County.
WISHING EVERYONE a JOYOUS CHRISTMAS and a WONDERFUL 2017! — The Allen Group
The publication and all its images remain the property of Guelph & District Association of REALTORS® and its members, and may not be reproduced without written permission of the publisher. The publisher assumes no responsibility for statements or claims made by advertisers. Advertising is exclusive to voting members only of the Guelph & District Association of REALTORS®. The publisher reserves the right to refuse any ad due to content or lack of protocol. Views expressed in any editorial found herein are not necessarily those of the publisher. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license. Guelph & District Association of REALTORS® 400 Woolwich Street, Guelph, ON N1H 3X1 Phone: (519) 824-7270 Fax: (519) 824-6730
Geoff Allen • Deb Allen • Cassandra Allen
COVER IMAGE © Africa Studio / Dollar Photo Club
Sales Representative
Sales Representative
Sales Representative
519-546-3991
519-400-5474
416-294-0020
geoff.allen.re@gmail.com
deb.allen.re@gmail.com
cassandra.d.allen@gmail.com
THINKING OF THINKING OF BUYING A HOME? BUYING A HOME?
When you’re buying a home you need pertinent facts about the house, the neighbourhood and the community. example, When you’re buying a home you need pertinentFor facts about the is the asking price too high?and Was house everFor a grow-op? house, the neighbourhood thethe community. example, Is well water andWas safethe for house drinking? Can you build is the asking pricepotable too high? ever a grow-op? a Are youand allowed out the basement? Issecond the wellstorey? water potable safe to forrent drinking? Can you build a second storey? Are you allowed to rent out the basement? There are countless questions when it comes to buying a house, knows how to fiitnd the answers. They do the and your There areREALTOR countless®questions when comes to buying a house, ® homework so that you can make decision—and get knows how an to fiinformed nd the answers. They do the and your REALTOR the best possible homework so thatoutcome. you can make an informed decision—and get the best possible outcome.
REALTORS is a trademark controlled by the Canadian Real Estate Association. Used under license. WE DO THE HOMEWORK is a trademark of the Ontario Real Estate Association. REALTORS is a trademark controlled by the Canadian Real Estate Association. Used under license. WE DO THE HOMEWORK is a trademark of the Ontario Real Estate Association.
PREPARED BY: CLIENT: TRIM SIZE:
RYAN EDWARDS OREA GUELPH ASSOCIATION 10.375"W X 5.85"H
PREPARED BY: CLIENT: TRIM SIZE:
RYAN EDWARDS OREA GUELPH ASSOCIATION 10.375"W X 5.85"H
COLOURS:
COLOURS:
CMYK
CMYK
THINKING OF
December 16 - December 31, 2016
Your Local Listings by REAL ESTATE UPDATE
1499 Gordon St., Guelph • 519-837-1300
Guelph & District Association of REALTORS®
238 Speedvale Ave. W., Guelph • 519-836-6365
782 Tower St. S., Fergus • 519-787-0203
Independently Owned and Operated Brokerage
w w w. r e m a x c e n t r e . c a Please visit remaxcentre.ca
WHAT’S YOUR HOME WORTH?
FREE Online Home Appraisal FAST!
PRIOR to buying or selling is when important decisions are made.
Talk to experience... talk to Pat. Pat Prior Direct:
www.mantonteam.com
search ‘ramonaostrander’
Search Guelph area commercial properties & business opportunities.
prosper.ca
Ramona Ostrander*
519-830-9728
RE/MAX REAL ESTATE CENTRE INC.
visit ROrehomegroup.ca
Perceptive and transparent service my standard; compelling communication & discerning action my tools for deliberate results. 519-837-1300
STEVE DAWKINS** 519-827-8434
*Sales Representative
**Broker
WISHING YOU ALL a WONDERFUL CHRISTMAS and all 2017! the best in 2017!
Linda Duszczyszyn Sales Representative ABR, ASA * Hall of Fame Recipient, 2016 * Accredited Buyer Representative * Accredited Senior Agent
www.howREALTORShelp.ca
REAL ESTATE CENTRE INC. Independently Owned and Operated Brokerage
DIRECT:
519-993-5505
CALL 519-837-1300 ext. 170 • lindad@remaxcentre.ca
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December 16 - December 31, 2016
Your Local Listings by REAL ESTATE UPDATE
Guelph & District Association of REALTORS®
Photo: © Stock Photo Secrets
4
THE FRENZY OF THE HOUSING MARKET: let’s discuss what’s really happening With recent changes to mortgage lending imposed by The Department of Finance, many wonder what the market expectations are for the national and local market housing markets. There were several changes announced on October 3 but the most wide-reaching will be the impact on high ratio mortgages (home purchases with less than 20% as a down payment). This restriction doesn’t just apply to first-time homebuyers, but generally anyone in the middle class who will be buying a home that requires default insurance. This impact will mean a 20% drop in purchasing power for these individuals. For example if you were approved for a purchase price of
2016 that there was only one month’s of inventory on the market (a balanced market would have about a three month inventory). Unfortunately home affordability is not congruent with the provinces push towards limiting space and intensification of housing. We can clearly see this as homes in Guelph’s downtown core continue to aggressively appreciate in value. Guelph, K/W and Cambridge will continue to see net migration from places like Toronto and Milton as these migrants will see the area as an inexpensive alternative to the GTA. This local area will continue to see good price appreciation because of these factors.
“NEARLY 25% OF THE POPULATION WHO ARE MOVING UP INTO A NEW HOME MARKET CATEGORY ALSO PURCHASE THEIR NEXT HOME WITH LESS THAN 20% AS A DOWN PAYMENT.” $450,000 with ten percent as a down payment now they’ll be able to buy for $360,000 instead. Most of the conversation around these changes has included only the first time buyer; however I believe that nearly 25% of the population who are moving up into a new home market category also purchase their next home with less than 20% as a down payment. This change was focused on cooling the housing market in overheated areas such as Vancouver and the GTA. Home inventory in the Guelph, K/W Cambridge area will continue to be low, which will drive strong home appreciation. The Guelph and District Association of REALTORS® reported in October
This may be a good option for those who are self-employed and show little taxable income. Over the next five years there will be a massive transfer of wealth from one generation to another as baby boomers pass on their wealth to their children. Many parents are now considering giving their children early inheritances to purchase a home and allow their children to have a 20% down payment on a home. The new mortgage rules do not apply to home purchases with more than 20% as a down payment. Consider renovating your home instead of moving. If you love where you live but just need a little more room or an update to the house, home renovation is a good alternative. You can often tap into the existing equity in your home to update a kitchen or bathroom and perhaps add a room or another level to your home.
WHAT CAN CONSUMERS DO?
OTHER OPPORTUNITIES IN THE MARKETPLACE:
Readjust your expectations for home ownership and plan for the future. Most people strive to purchase a single detached home, but that may not be realistic now. Adjusting your expectations to buy a condo or a town house and then planning to move up in five to seven years is a reality and a good alternative to renting for five years.
Purchases of rental properties or multi-unit residential properties are an opportunity to rent to tenants who have good jobs and credit but need to save more for a down payment. Lending money privately to individuals who don’t qualify for bank mortgages under the new guidelines is a good option for those who have the ability to lend their money. Many individuals who are self-employed and show little taxable income and have a good credit rating are good credit risks and are open to working with private lenders to help them get into a home or purchase rental properties. Mortgage brokers are professionals and can help both lenders and buyers alike.
Get some help from a family member. If you’re still focused to buy in a price category where you feel you want to be, but cannot qualify for under the new guidelines, find a co-signer. A co-signer with good income stability and credit history can put you into a higher home purchase category.
— ARTICLE SUBMITTED BY SANDRA LASTOVIC, SENIOR MORTGAGE AGENT, THE MORTGAGE CENTRE —
•
Your Local Listings by REAL ESTATE UPDATE
December 16 - December 31, 2016
Guelph & District Association of REALTORSÂŽ
HomeLife Power Realty Inc. Brokerage
1027 GORDON ST., GUELPH
INDEPENDENTLY OWNED AND OPERATED
914 KING ST. W., KITCHENER
519-836-1072 519-885-8810 Toll Free: 1-888-932-3548
www.homelifeguelph.com
www.homelifepower.ca
homelife@homelifeguelph.com
May this Christmas bring
Joy & Love to your Heart & Soul, and may you start the New Year on a Beautiful Note. Wishing you the Best Christmas and a Safe and Happy New Year!
— from All of Us at HomeLife Power Realty Inc.
Idil Abdi
Sales Representative
Tunde Abiodum
Maria Annable
Broker
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Debbie Askin
Sales Representative
Lisa Chou Broker
Sales Representative
Brendan Clancy
Baz Durzi
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Broker
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Susan Kenny
Andreas Krause
Harold Lee Broker
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Colin MacDonald
Bryan Marquess Broker
Mani Mattu
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Don McLauglin
Sales Representative
Chris Mossey
Sales Representative
Sean Myslik
Sales Representative
Diana Nercessian
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Hugh Peloso
Sales Representative
Rob Piombini Broker
Corina Plotogea
Sales Representative
Dalibor Radulovic
Sales Representative
Mico Radulovic
Sales Representative
Darlene Reparon
Sarah Rubenstein
Gasper Russo
Jen Skinn
Glenn Stanley
Sean Stongman
Nancy Vallance
Brett Wehrle
Chris Wehrle
Lucy Christine Wehrle
Rick Wehrle
Terra White
Broker of Record
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Will Lenssen
Nitsa Eliopoulos
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Jackie Harrison
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Lucas Jauch
Parmpreet Chohan
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Natasha Gosse
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Igor Ivanisevic
Christianne Child
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Broker
Jodi Holt
Marvin Castillo
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Danny Fetter
Jane E. Hastings
Haosen Cai
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Carl A. Leybourne
Sales Representative
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December 16 - December 31, 2016
Your Local Listings by REAL ESTATE UPDATE GUELPH
214 Speedvale Avenue W. T: 519.821.6191 TF: 800.475.2251 speedvaleoffice@royallepage.ca
Guelph & District Association of REALTORS®
GUELPH
848 Gordon Street T: 519.824.9050 gordonoffice@royallepage.ca
GUELPH
ShowCase of Homes, Stone Road Mall royalcity@royallepage.ca
ROCKWOOD
295 Alma St. Unit 1 T: 519.856.9922 rockwoodoffice@royallepage.ca
www.royalcity.com
JUST LISTED! 187 Waverley Drive
28 Serena Lane
MOVE IN READY FAMILY BUNGALOW
Three bedrooms upstairs and a fully finished basement featuring separate entry, huge recreation room (w/gas fireplace), kitchenette area, 3 pc bath, office and potential fourth bedroom! New furnace and central air in 2014, among many other updates. An ideal home for downsizers and first time homebuyers alike! John Clark* & Lorna Ronald*. $409,900
9.3 ACRE LOT IN ROLLING HILLS
Perhaps the largest and most private estate building lot in the City. 346 feet of frontage. Ideally treed, with open space and pond/wetland area that abounds in nature. You can enjoy solitude yet also enjoy the convenience of restaurants, the Galaxy Cinema, schools and shopping minutes away. The best of both worlds. John Clark* & Lorna Ronald*. $875,000
JUST LISTED! 161 Inkerman St., Guelph - Sat., Dec. 17th, 1-3 PM
RENOVATED BUNGALOW
Three bedroom bungalow with detached shop and a spacious, fully fenced yard. 100 amp service, furnace and A/C 2008 (with two years of warranty left), water heater 2011. Outside is the 16’x30’ detached shop/garage with hydro and opener, insulated and finished with a concrete floor. Parking for at least 3 cars in the driveway. On a cul-de-sac in a highly accessible location. John Clark* & Lorna Ronald*. $389,900
UPDATED OPEN HOUSES Visit gdar.ca/open-houses for “Up-to-the-Second” Open House listings from local REALTORS®
54 Uplands Place
RAISED BUNGALOW WITH IN-LAW POTENTIAL Tucked away in a quiet neighbourhood in Guelph’s east end. Featuring an updated white kitchen with dark countertops and backsplash, and modern 5 pc. bath with a double vanity. There is a stackable washer/dryer set in the bathroom, handy for an entirely independent unit, if one wanted separation from the basement. In-law suite potential is there, with two hydro meters and separate entry from the garage into the basement. John Clark* & Lorna Ronald*. $409,900
8466 Wellington Road 50
HALF ACRE LOT IN ROCKWOOD
TH I E W GS! T A D IN es T O IS us T L P U EST -ho Y n STA E L AT /ope TH ar.ca gd
Half acre building lot on the edge of the quaint town of Rockwood. Lot dimensions are 90’x247’, centrally located between Guelph and Acton for an easy commute in either direction. John Clark* & Lorna Ronald*. $229,000
Visit www.royalcity.com for more great homes.
NO SIGN-UPS.. JUST CLICK AND VIEW! †
Licensed Assistant *Sales Representative **Broker ***Broker of Record
Your Local Listings by REAL ESTATE UPDATE
December 16 - December 31, 2016
Open House!
Saturday, Dec. 17th 2016
PRICE
TIME
ADDRESS
REPRESENTATIVE
BROKERAGE
$389,900
1:00-3:00 PM
161 Inkerman Street, Guelph
Collette Aeschlimann Royal LePage Royal City Realty
Marc Petitpas, VP of Sales
Complementary Real Estate Services Inc.
Ask us about our cooperating REALTOR® offer!
125 Norfolk St, Guelph
500 Hanlon Creek Blvd., Guelph
Bisson.C@TheMortgageCentre.ca Lastovic.S@TheMortgageCentre.ca
MPetitpas@FusionHomes.com Sales@FusionHomes.com
www.SkipTheBank.ca
www.FusionHomes.com
(519) 763-3900
1-877-862-8850
Silver www.gdar.ca/open-h
ouses
Your Hometown Realty
519-846-4663
www.HometownRealty.ca
Scotiabank
Canadian Home Inspection Services
Meridian Credit Union
Re/Max Real Estate Centre
www.Scotiabank.com
www.CanadianHomeInspection.com
www.MeridianCU.ca
www.ReMaxCentre.ca
1-800-4-SCOTIA
226-820-1744
519-837-2233
Smith Valeriote Law Firm LLP
DLC Home Capital Solutions Inc. (FSC010844)
MortgageGuys.com
www.SmithValeriote.com
www.HomeCapitalSolutions.ca
MortgageGuys.com
519-837-2100
1-877-662-0225
519-836-6365
RBC Royal Bank
519-341-6900
1-866-871-9868
Mortgage.RBC.com
Trillium West Real Estate
Planet Realty Inc.
At Home Group Realty Inc.
HomeLife Power Realty Inc.
Coldwell Banker Neumann
www.trilliumwest.com
www.PlanetRealty.ca
www.HomeGroupRealty.ca
www.HomeLifePower.ca
www.CBN.on.ca
226-314-1600
519-837-0900
226-780-0202
519-836-1072
519-821-3600
Bronze AmeriSpec
Pillar To Post
Home Inspection Services
Professional Home Inspections
BrokerLink
Richard R. Morrow Law Office
Building Insights Inc.
RLB LLP
Centre Staged Inc. Champion Mortgage Inc.
Season’s Greetings from the RC Team
Chartered Accountants & Business Advisors
StayBridge Suites
Guelph’s Only Extended Stay Hotel!
Cheryl Stelzer Barrister & Solicitor
TD Canada Trust
Home Improvement Professionals
Teranet/Geowarehouse/Vimo
Lobban Stroud Ltd.
7
e s u o H n e p O e r o ! e n M i l n O s g n i t s i L
Gold Chris Bisson & Sandra Lastovic
Guelph & District Association of REALTORS®
The Real Estate Book
Mortgage Architects
Guelph & Wellington County
Nelson Watson LLP
Visual Advantage
Paquette, Travers & Deutschmann
Welcome Home Inspection Services
Peter A. McSherry Law Office
Winmar Guelph
Wishing everyone a Happy, Healthy, Prosperous 2017
Thank You To Our 2016 Sponsors Sponsors!! 214 Speedvale Ave. W., Guelph, ON, N1H 1C4 Office: 519.821.6191 Fax: 519.821.6764 johnlclark@royallepage.ca ~ lornaronald@royallepage.ca ~ collette@royallepage.ca www.GreatGuelphRealEstate.ca
8
Your Local Listings by REAL ESTATE UPDATE
December 16 - December 31, 2016
Guelph & District Association of REALTORS®
Thank you ALL for Helping and Supporting us these past Seven Years. This was only possible because of you. We made it to our Final Issue of REAL ESTATE UPDATE, and wish you all the Best in 2017. Visit www.gdar.ca for Open House listings!
SEASONS GREETINGS & HAPPY NEW YEAR!
Sold by a REALTOR
®
MLS® Market Analysis
CITY OF GUELPH
CENTRE WELLINGTON TOWNSHIP
TOWNSHIPS OF PUSLINCH AND GUELPH-ERAMOSA
Number of Homes Sold Year-to-Date
Number of Homes Sold Year-to-Date
Number of Homes Sold Year-to-Date
Includes detached, semi-detached, townhouses, & apartment units
2016 2015
2351 2297
2016 Trending: Up 2% from 2015
Average Sales Price Year-to-Date Includes detached, semi-detached, townhouses, & apartment units
2016 2015
$415,831 $369,296
2016 Trending: Up 13% from 2015
Includes detached, semi-detached, townhouses, & apartment units
2016 2015
449 442
2016 Trending: Up 2% from 2015
Average Sales Price Year-to-Date Includes detached, semi-detached, townhouses, & apartment units
2016 2015
$404,138 $363,392
2016 Trending: Up 11% from 2015
Includes detached, semi-detached, townhouses, & apartment units
2016 2015
241 226
2016 Trending: Up 7% from 2015
Average Sales Price Year-to-Date Includes detached, semi-detached, townhouses, & apartment units
2016 2015
$709,688 $546,329
2016 Trending: Up 30% from 2015
Home Selling Indicators (previous month)
Home Selling Indicators (previous month)
Home Selling Indicators (previous month)
Includes detached, semi-detached, townhouses, & apartment units
Includes detached, semi-detached, townhouses, & apartment units
Includes detached, semi-detached, townhouses, & apartment units
Months of Inventory
1
# Days on Market
18
2016 Trending: Seller’s Market
Months of Inventory
1
# Days on Market
34
2016 Trending: Seller’s Market
Months of Inventory
4
# Days on Market
47
2016 Trending: Balanced Market
Updated Nov. 30, 2016. Sales information has been drawn from sources deemed reliable, but accuracy and completeness of the information is not guaranteed. The Guelph & District Association of REALTORS® does not assume any responsibility or liability, and all numbers should be independently verified.