I’m amazed at the talent some people have for knowing what looks good.

Drs. Vecchio (yup, there are two of them) have done it again.  After transforming their last home, they took this tired older home and did it again.  Applying concepts of Feng Shui and old-fashioned good taste, they have transformed their new abode into a welcoming home and business.

Their Inner Harmony Family Chiropractic and Wellness Centre is located at 272 Ste. Marie St one block east of the main street in Collingwood’s downtown core.  The area is an emerging commercial district with many recent residential to commercial changes.

Congratulations Dave and Melissa.  You’ve done it again!

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

According to the 2001 Census, almost 15% of the Collingwood population identified themselves as being Anglican.  Locally, that congregation is served by All Saints’ Anglican Church located on Elgin Street opposite St. Mary’s Catholic Church downtown.

This church is said to be one of the most beautiful historic churches in Ontario and, it stands as one of the most significant early buildings in Collingwood.  I’ve often noticed people painting pictures or taking photographs of the adjoining former manse which is seen in galleries or books across the country.

The church was erected in 1858 and expanded in 1876.  From the history section of their website, “Over its long history, the church has been enhanced by a number of memorials, including magnificent stained glass windows, white oak organ case and marble font as well as unique brass pulpit and lectern, a beautiful and distinctive altar and a dramatic relief carving of “The Last Supper”.”

There is a terrific profile on the Heritage Collingwood site about the rectory building that includes a detailed history and beautiful photographs.  Next time you pass these buildings, I’d really recommend taking some time to really notice how special they are.

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

What do you feel like eating?  Chances are you’ll find it near Collingwood these days as the range of dining options has really expanded over the last few years.

One of my favourite spots for lunch is the Siamese Gecko located on the west side of Hurontario Street between 3rd and 4th streets in downtown Collingwood.  Friends who have traveled to Asia swear it’s the most authentic Thai food they have tasted outside of Thailand itself and all say it’s among the best they’ve had.

It’s a rather unpretentious spot with a relatively plain décor and casual but friendly staff.  The food is incredible with a marriage of flavours that makes me want to go back again and again. 

The Som Tum salad is crunchy and sweet with a tiny kick and in my books, a must with each meal and, it’s large enough to share.  The Pad Thai is too sweet for my tastes but I know my lunch mates rave about it while I eat jasmine rice along with the most delectable dish of chicken and sweet potatoes bathed in a mild yellow curry and coconut sauce that makes me want to lick out the bowl.  Actually, I’ve never gotten to the bottom of the bowl as the portions are so generous I always ending up taking some home to share. 

The Siamese Gecko is licensed and open for lunch and dinner.

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

For people wanting to build a large home on an estate-sized lot close to downtown Collingwood, there are very few choices available. 

Last month, a new development called Windrose Valley  was launched at the corner of Osler Bluff Road and the Sixth Street extension on the borders between the Town of Collingwood, the Town of the Blue Mountains and Clearview Township.  It’s a marvelous location minutes from Osler, Blue Mountain and downtown Collingwood.

Windrose Valley is made up of 43, one to two-acre estate lots together with communal lands that house natural areas, walking trails and a few planned amenities such as tennis courts, a horseshoe pit and volleyball court.

With today’s new provincial policies directed at intensified development, the days of large estate lot developments are all but over which makes this project rather interesting at this point in time.  The lots have frontages ranging from 132 to 285 feet with depths ranging from 259 feet to 437 feet;  certainly large enough to accommodate a substantial home, triple car garage, pool AND a tennis court.

All of the lots will be serviced by a community water system shared with the Buckingham Woods development nearby.  Owners will have to put in their own septic systems.  Natural gas, phone, cable and high-speed internet are all available as is municipal garbage and recycling pick-up.

The lots are building permit ready with immediate closings available and, development charges have already been paid.  While there are architectural controls in place to protect the values, views and natural land features, the principles have stated they don’t plan to unduly limit the styles and creativity of purchasers.

Lots range in price from $175,000 to $425,000 (plus GST) depending on their location, size, view and situation.  Buyers are also currently being offered a bonus of a Social Membership to OslerBrook Golf and Country Club which represents a $5,000 value.

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

I can’t say it was a surprise to see that there were only 106 sales in the Georgian Triangle MLS® board area last month compared to 200 in October 2007.  Most of those sales were priced between $150,000 to $250,000 as has been the trend all year.

For the first full ten months, the total number of sales are down 17.7% which is still much better than provincial average but a substantial decline nonetheless.  The number of new listings continues to climb with 545 listed last month and a total of 2117 active listings in effect at month’s end.  The number of property listings that expired was also up by 37% last month, 18% YTD.

As mentioned before, we really like to watch the sales-to-listings ratio.  Anything below is 40% is considered a buyers market.  Well, I dare say, it landed at just under 20% last month and it sits at 30.86 YTD compared to 41.22 last year at this time.

Interestingly, the 12 month average sale price is almost identical to what it was at this point last year and, other than in Grey Highlands, the YTD average prices are still up in every other community of the Georgian Triangle.

So far, this is what was expected.  Potential buyers are out there but are nervous.  Sellers are waking up to the reality of the market and we should start seeing conservative price reductions in short order.  This is the natural cycle of a market correction.  I just wish it didn’t bite quite so much!

All MLS® data and/or statistics obtained from the Georgian Triangle Real Estate Board.

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

Part 5 of a 5 post series

How do we know when we’ve hit the bottom of the market?  It’s part science and part gut instinct I’d say.  As a REALTOR®, I notice things like phones ringing more, showings increasing, recreational property sales reviving, fewer price reductions and that type of thing.  We don’t always quantify these but we notice and feel the trends.  It’s not happening yet.

The performance of real estate markets lags behind national economic cycles so these are important early indicators to watch.  Since money supply is generated in part through the stock market, a recovery in that sector is a positive indicator. We’ll see commercial vacancy rates start to decline and, there will be improved banking credit appearing in the private sector. Interest rate decreases will stop and then either hold or start to creep up.

Beyond that, there are several more local market key indicators to watch:

• The number of sales:  this is the number of units sold month over month.  As different markets may follow differing seasonal trends, year over year comparisons are important,

• The ratio of listings to sales:  This is the percentage of listings that sell.  We look at the number of new listings each month divided by the number of sales to arrive at this ratio.  Two or three months of an improving ratio is evidence of a trend.  This is perhaps the most important indicator of all.

• A declining number of listings:  Things tend to be at their worst just before the end of the cycle.  By then, Sellers will have given up trying to sell their homes and the listing inventory will likely start to decrease.  Again, watch for a trend.  Right now, listing inventories are still climbing.

• Fewer days on market

• Properties selling at a higher percentage of the asking price (currently around 94%)

Here is a chart showing the sales to listing ratio’s in the Georgian Triangle market for the last three years:

Economists are starting to venture forth with predicitions (how do they do that?) saying look for the bottom next spring.  We’ll see.

Related Posts:

Part1: So, How’s The Real Estate Market You Ask?
Part2: The Things Sellers Need To Consider Right Now
Part 3: The Things Buyers Need To Consider Right Now
Part 4: Are We Close to the Bottom of This Real Estate Market Cycle?

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

Part 4 of a 5 post series

Someone said to me recently that they thought we were nearing the bottom of the market.  I couldn’t disagree more and I think there is more bad news ahead and we still have a way to go before balance returns to the market.  There is an overbuild of inventory to clear and more importantly, countries around us that need to stabilize their financial and banking systems.  That’s going to take a little while.

I do however want to say again what I said in the last post.  What goes down, always goes up.  Stop reading the media reports whose goal it is to sell their product.  We are NOT Iceland, Britain or the U.S.  In an email to REALTORS® this week from RE/MAX Ontario-Atlantic Canada Executive Vice President, Michael Polzler, he did a great job of outlining some of the fundamental differences we have in Canada compared to these other economies:

1. Subprime mortgages represent less than five per cent of our market nationally.
2. Foreclosures occur in about one quarter of one per cent of mortgage transactions in this country.
3. Canadians have more equity in their homes.
4. We have less debt than our neighbours south of the border.
5. Speculation has played little or no role in existing home sales in Ontario.
6. The fundamentals of our economy are relatively solid. Of the G8 countries, only Canada is expected to show growth in 2008 and 2009.
7. The Canadian banking system is one of the best in the world, relying more on old-fashioned lending than innovative financial products geared toward profit.
8. The Canadian job market is stronger than the US, adding more than 200,000 jobs so far this year.
9. Interest rates remain favourable.
10. Housing values in Ontario major centres did not experience serious, double-digit price appreciation year-after-year for an extended period. Our markets were characterized by stable, healthy growth.
11. Immigration continues to play a key role in housing markets. Between 2001 and 2006, more than 1.1 million immigrants came to this country, with about half settling in the province of Ontario. Immigrants tend to purchase a home within the first five years of living in Canada.

In a nutshell, the stability of our banking system ranks #1 in the world and, the current market reaction is not caused by distress sales, foreclosures or bank failures such as in the U.S.

Yes, I think the market will still go down and yes, this also presents great opportunities for those who are ruled with their heads and not by fear instilled in their hearts.  It’s time to take a breath and use our heads as we go through this cycle.  Know the signs of market bottom and then watch for them.  Consider all the facts before making decisions.  Chose to work with a REALTOR® who can be a trusted advisor.

Next post:  Signs of the Real Estate Market Bottom

Related Posts:

Part 1:  So, How’s The Real Estate Market You Ask?
Part 2: The Things Sellers Need To Consider Right Now
Part 3: The Things Buyers Need To Consider Right Now

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!
The Things Buyers Need To Consider Right Now

Surprisingly, I think I have shown more property in the last month during this “slow-down” than I have in any other month of this year.  People WANT to buy but they are afraid so many are taking a wait and see approach which is in turn creating a backlog of pent-up demand as mentioned in the first post of this series.  

I like that people are taking the time to really think about what is right for them rather than rushing headlong into decisions.  Here are some of the things buyers should consider:

Wait and See:  As of the end of September, prices in the Georgian Triangle had not dropped and in fact, they still went up in all areas except Collingwood where they moderated slightly.  I really do think they will come down in some areas but the question is, by how much?  Wouldn’t we all love to know that! 

If you are currently renting, take into consideration the cost of rent.  For example, if you are paying $1200.00 a month to rent and wait a year to buy a home, you will have spent almost $15,000 on rent during that time.  Chances are that house you are dreaming of will not go down $15,000 in value in one year.  Possible yes but the chances are very slim.  It’s also likely that interest rates will be higher in a year and, if the market comes back on strong, there will be more competition from other buyers.

If you are considering the purchase of an unfinanced vacation home, it may make sense to wait a little to see if there are some bargains brewing over the winter months.

Inventory:  Right now, new listings are still coming on the market but history shows that this will naturally decrease over the winter months.  Inventory also tends to drop off sharply right before a market recovery.  Urgency and multiple offers are gone from the market so this may be a good time to consider buying if the right property comes along.

Interest Rates:  This is a very important and under-rated consideration.  It’s what decides the bottom line of what goes out of your pocket each month.  I would suggest you go to your lender and get pre-approved for financing and, don’t over extend your comfort zone.  Common thinking at the moment is that rates may go down in December and then start to climb as recovery sets in.  House prices are not the only thing to watch. 

Investment Property:  In our area, the ROI (Return on Investment) and the Cap rates have not been great for several years with prices now 15% above 2005 levels but rents nowhere close.  Reduced prices, anxious sellers and decent interest rates increase opportunity at a time like this.  You also need to watch interest rates closely.  With so few income properties on the market, it doesn’t make sense to wait if the right thing comes along where the numbers work for you.

A point to ponder:  Many retirees are in a panic at the moment as their life savings in their stock portfolios are dropping on an almost daily basis.  What if they had all purchased an income property 15 or 20 years ago and had it paid off?  Today, they’d be collecting a rent cheque from the tenants every month no matter what the stock market or real estate market does.  It’s exactly what John and I are doing to save for our own retirement.

The Bottom Line is that you are not buying a house in the U.S.  You are buying a home that eventually you will pay off no matter what happens.  Be mindful, consider all the options and take your time.  Look for opportunities and be prepared.

Next in the series:   Are We Close to the Bottom of This Real Estate Market Cycle?  

Related Posts:

So, How’s The Real Estate Market You Ask?
The Things Sellers Need To Consider Right Now

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

Close to 70% of Canadians own their own homes and we know that real estate has always proven to be a solid, long term investment.  Unlike a mutual fund or gold bar, you can live in the investment. 

The dream of home ownership is very much alive.  Because of this, there are always people who want to buy a home or investment property and what happens in a downturn is that more people than not take a wait and see approach.  This leads to pent-up demand that, when released into the market again, causes a slow and steady climb as the cycle begins again. 

So what to do if you are a seller in a soft market?

This is not the time to test the market.  If that is your idea, may I suggest you put it on the back burner for now and stay put.  If on the other hand you are trading homes (this is a good time to do that) or if you need to sell for any number of reasons, then here’s my advice:

• Price Well:  Be realistic about fair market values.  Right now, less than one-third of homes listed for sale are selling and that may get worse over the months ahead.  Over-pricing your home will lead to stagnation on the market and nothing but frustration for you.  You might want to read this.

• Be Ready To Compete:  You will be competing with hundreds of other resale properties AND with beautifully upgraded model homes on new home sites.  This means you need to have your home in top-notch condition.  Prepare your home for sale, have it staged, keep it clean and make it easy to show.

• Be creative:  Builders are offering incentives such as free air-conditioning, a finished basement or free appliances.  What can you offer to compete with that?  Don’t bother giving an incentive to us REALTORS® but rather, offer something of interest to potential buyers.

• Make it easy:  Make it easy to show your home.  Leave lights on for evening showings so we don’t trip on the walkway or fall in a snow bank.  Be flexible with potential closing dates and, check your ego in the basement when dealing with an offer.

• Use a REALTOR®:  This is not s shameless plug.  I genuinely believe and know the value that REALTORS® bring to the table.  Your neighbour, your stock broker, your co-worker and your Dad are not experts on the market although they may want you to think they are.  Work with a trusted real estate advisor who wants a successful sale as much as you do!

Next:  The Things Buyers Need To Consider Right Now
     

Related Posts: 
So, How’s The Real Estate Market You Ask?
The Most Important Factors That Will Get Your Home Sold

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

Let’s talk about that. 

All of us read and hear about the global financial crisis and every day, the media is filled with what amounts to horror stories about the economy.  Conventional wisdom says REALTORS®, Financial Planners and other advisors with a self-interest only preach the positive as though we live in some reality vacuum.  Sometimes, I think that’s true.  Sometimes it’s not.

LABYRINTH

I think we need to have a real dialogue about what is going on as people need to make decisions and certainly when it comes to real estate, they are decisions that involve our largest assets, the roofs over our heads and the places that we call home.  Not something to be taken lightly.  Hence, this is the first post of a five-part series. (I’ve warned you before that I have LOTS to say!)

Although our local Georgian Triangle market held it’s own in September, my sense is that the number of sales and average prices will be WAY down for October.  It’s very quiet, few sales are reported and I see a lot of long faces in the real estate offices.  This is not however, the least bit of a surprise.  There is a GLOBAL financial crisis underway and although we know we are pretty special as Canadians here in South Georgian Bay, we are not immune to the world events around us.

I’ve ridden out several up and down cycles in my twenty year real estate career and in the 32 years that we’ve been home owners ourselves.  What goes up must come down and what goes down, always goes up.  This is a self-correcting economic system we live with and while it is painful at the time, some balance is not a bad thing.  We’ve had a sustained run up in prices that have strained all normal boundaries of affordability and it’s time reality creeps back in.  For now, the days of speculative profiteering in real estate are over.  But, good or bad, they will be back.  Oh yes, they’ll be back.

I have heard lots of people in the last few months talk about the fact that they would like to buy property but, they “think we’ll wait until spring/summer/next year to see what happens.”  These people are all still buyers but they are looking for the bottom of the market and rightly so.  Who want to buy high?  Nobody that I know.

Economists world-wide are predicting recovery in late 2009 or at worst, 2010. If you read the any media slaughter story, these positives are even included somewhere in the last paragraph or two.  Kind of like hidden fine print because they don’t sell papers. Did you know that resale sales units in the U.S. went up 5.5% last month – the highest surge since 2003? 

There seems to be general agreement that Canada is in one of the strongest positions in the world and while sluggish, is still expecting growth over the next year.  And then you know what will happen?  At the first hints of a turn-around, people will know they missed the bottom and all that pent-up demand will flood back into the market in short order.  Prices will start to climb again and regrettably for some, so will interest rates.  And then everyone will start buying higher and paying more.  It happens every time.

Related Posts:
Collingwood Boom Continues

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

I was having an email chat today with Vancouver real estate Broker, Maggie Chandler.  In one of her emails back to me, she included a clip from a newsletter written by Vancouver Real Estate Guru, Ozzie Jurock that happened to have a little line in it that said, “We also hear of Intrawest being in trouble.” 

Huh?  Why had I not heard this?

So a quick search on Google revealed that yes indeed, there is some stress if not big trouble brewing at Fortress who purchased Intrawest two years ago in a multi-billion dollar deal. Fortress owns a number of resorts including our own Village at Blue.

According to an article in todays Globe and Mail Report on Business, Fortress  Investment Group, which is a U.S. based asset management fund, financed their purchase of Intrawest through a lending group that among others, included Lehman Brothers and, well, we all know what happened to them.  It seems that Fortress’ $1.68 BILLION U.S. loan came due today (October 23rd) and they are struggling to refinance that debt.

In another Whistler publication, they naturally put a more positive spin on the situation given that Whistler-Blackcomb is the starlet of the resort group.

So what now?  Will they be able to refinance the debt and if so, will it be on favourable or harsh terms?  Will they go bankrupt (I sure hope not) or will they sell?  Will it be business as usual?  Given the global state of economic affairs, my guess is that’s it’s going to be a long winter for this company.

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

Did you know that Canada ranks #1 in the Global Competitiveness Report of having the lowest incidence of malaria?  Not a surprise.

Moncton REALTOR®, Larry Estabrooks,  recently drew my attention to this report put out by the World Economic Forum.  In it, Canada ranked 10th overall in terms of Global Competitiveness which is no small feat but could still be a little better.  Mundane albeit interesting reading.  But there’s an important golden nugget in the report that bears notice.  Canada ranked #1 in the world with respect to stability of its banks.

In these times of global financial upheaval, we see governments loading billions of dollars into the banking system world-wide.  Certainly in my lifetime, and I’m 48, I’ve never quite seen anything like it.  Like you and everyone else, I wonder where this will lead and if the world will ever be quite the same.  I can say though, that I’m comforted to know that our banking system is more stable than any other in the world.

Incidentally, we rank 6th in the world for internet users.  So log on and check out the report if you feel like it.  Or play a game.  Or do some online banking.

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

While everyone is busy keeping an eye on real estate prices, I would like to suggest that keeping an eye on INTEREST RATES is equally important.  I know this first hand since once upon a time in 1981, my husband and I had a mortgage with an interest rate of 21.5%!  Our little $40,000 mortgage cost us $641.00 a month back then whereas today, that same amount would carry for less than $250.00 a month.  Wow.

In an email last week, local mortgage agent, Kelly Adam sent along a rather interesting chart showing rates over the last few years.

A quick calculation on my favourite calculator site shows something very worth paying attention to.

According to the chart, the average mortgage interest rate in 2005 was 4.98%.  In the three years since then, rates have crept up to an average of 5.67% for a five year term.  Look at the impact:

 A $200,000 mortgage today, amortized over 25 years, would cost the borrower $6,647.00 more over the five year term and if it were equally level over 25 years, the difference would amount to paying $23,912.00 more.

Economists seem to be predicting some downward pressure on rates in the short term but increases in the longer term.  Depending on your own risk tolerance (that’s what I call how well you sleep at night), you may want to think about taking a variable rate mortgage in the short term and locking in a few months from now.  No guarantees but hey, every penny counts if you call it right.

Related Posts:

Credit Ratings and Mortgages 
Changes To Canadian, Government Backed Mortgage Rules

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

There were a few interesting tidbits in today’s local newspaper that seem worth sharing:

Collingwood issued over $3 million worth of new building permits in September bringing the year-to-date total to a rather stunning $81.18 million for the first nine months of the year compared to $35 million for the same period last year.  Seems growth continues despite global economic concerns.

Collingwood Council has announced a new Heritage Grant Program.  Owners of designated heritage properties can apply to receive a grant toward the conservation and restoration of the heritage features of their properties.  Grant amounts of one half of eligible costs up to $3,000 are available.  I’ll bet this would qualify.

The Town of Collingwood Sustainable Community Plan is now complete and is available for viewing at the Town Hall.   I sure hope they’ll put it up on the Town’s new and much improved website soon.

Oh yeah, and they are also inviting applications for the position of Deputy Fire chief in case you are job hunting.

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

Sometimes life throws you little curves and yesterday, it was a curve BALL for me.

I’ve always been intrigued by a few of the regular Canadian bloggers on a real estate site I frequent (ActiveRain) and in particular, Sylvie Conde in Toronto has always caught my attention.  Just read her blog to see how unfailingly kind and generous of spirit that she is all the time.   (BTW, I have no idea what Sylvie even looks like.  This gal doesn’t have a single photo of herself on any site anywhere!)  Well, today Sylvie threw me a Friendship Ball which quite frankly, I had not heard of before.  (Yes, sometimes I live under a rock).  Anyway, a little homework and I found out that it’s certainly a gift that keeps on giving and Sylvie, I’m honoured!  Thank-you for being so nice.

So now it’s my turn to throw this lovely ball to two more ActiveRain friends.  How in heavens name am I supposed to do that?  I find everyone there so interesting and really think I’d like to be friends with just about all of them.  But chose I must so here comes that ball…

First up is my new friend, Kathy Clulow from RE/MAX in Uxbridge.  Kathy is a true promoter of her region.  She also remembers special challenges or interests that us other bolggers may have and is always sure to pass on something that may fall into that area. (I’m also cheating a little because I know Kathy will share this ball with her MARVELOUS husband Barrie  who has taught me tons about understanding the techie side of things.)  And, the ball goes to them (both) because they also took the time to get in touch and visit with me when they visited Collingwood.

The second toss goes to Larry Estabrooks from Moncton, New Brunswick.  I love the way Larry views the world and his attention to what is right.  He’s a born leader and teacher who I admire and learn from every time he posts or comments.  I really, really hope someday that I get to meet him.

There really are terrific REALTORS® out there in the blogosphere and I’m proud to have the chance to connect and learn from them almost every day.

I have a very talented and smart client.  She recently made a significant life change upon her retirement by leaving the city to move to Collingwood to live a quality lifestyle.

This gal purchased a run-down condo that had the right bones, a fabulous location and a good price.  Then she set her mind to making it hers and here are the results:

Isn’t that amazing?  It looks like an entirely different place and rest assured, she has improved the resale value well beyond her investment.  Hat’s off to her and congratulations on this transformation!

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

Collingwood has some beautiful churches.

According to the 2001 census, about 1 in 4 local people did not identify themselves as having any particular religious affiliation however, that means about 75% of people do.  Church life plays a prominent role in society and perhaps more so in small communities.  The census reported that close to 16% of the Collingwood population identified themselves as being Roman Catholic and locally, that congregation is served by the beautiful St. Mary’s Church, “Our Lady of the Lake.”

According to Heritage Collingwood, the first Catholic Church in Collingwood was blessed in 1858 and was then located on Pine Street.  In 1888, the new church was built at the corner of Ontario and Elgin Streets where it still remains.  It’s a lovely building with a tall Church tower, arched windows and notable brickwork.  Incidentally, the land where it sits was donated by Mr. Thomas Long – the same family that donated the land for Collingwood’s present library at Second and Pine Streets.

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When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

Many people who own secondary properties in vacation country like to rent them out from time to time to cover overhead costs associated with owning such a property.  That may get a little more difficult soon.

The Town of the Blue Mountains has been discussing the issue of short term rentals for some time now and earlier this year, they enacted an interim control by-law to allow some time for the study of this matter.

This week, a staff report came out with recommendations governing the licensing of short term accommodations and, from what I read, it will be VERY tricky to get approvals in most residential zones if this is approved.  I’m not saying that I disagree with the direction.  If you own a home in a residential area, you want your investment to be protected from commercial uses that may impact your enjoyment.  That’s certainly a fair thing to expect.

If you are considering the purchase of a recreational property with the intention of renting it out, you need to read the staff report and the Interim Control By-Law.  Longer term rentals shouldn’t be a problem so owners may need to rethink their ownership investment strategies.
Related Posts:

Many Short Term Condo or Chalet Rentals Are Prohibited 
If You Are A Landlord In Ontario, Please Read This 

When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

I just got the stats in for September which is also the end of the 2008 third quarter.  I’ve got to say, I was a bit surprised at what the numbers showed.

The total number of all sales in the area were up marginally from August levels and only slightly below September 2007 levels with 8 fewer sales for the month.  Considering the fairly large drops year over year in May through August, this was welcome news indeed.  The dollar value of these sales in the month of September was up 3% over September 2007 however, the total dollar value YTD is down 13%.

The total number of listings YTD is up by 8% compared to the end of the third quarter, 2007 with 2085 active listings in the MLS® system at the end of the month.

When we look at residential sales only, the number of units sold YTD is down somewhat from 2007 however, it should be remembered that 2007 was a record year.  I went back a bit further to see what YTD sales volumes were in the first three quarters and here is what I found:

YTD Residential Sales as at September 30th (Collingwood, Clearview, Blue Mountains, Wasaga Beach, Meaford and Grey Highlands)

 *  2008   944 units
 *  2007 1096 units
 *  2006   960 units
 *  2005 1022 units

Here is how average residential sale prices compare for the Georgian Triangle:

 *  2008 $280,867
 *  2007 $278,838
 *  2006 $266,545
 *  2005 $243,655

The 12 month average residential sale price is higher than a year ago in every community of the Georgian Triangle except for Collingwood where the average is down from last years $307,000 to the current level of about  $299,000. 

The largest volume of residential sales occurred in the $150,000 to $250,000 price band with 75 units sold last month, followed by 28 sales from $250-350,000.  There were 10 sales over the $500,000 mark in September (compared to 6 in September 07) and, three sales over the million dollar mark (compared to nil in September 07).

The sales-to-listing ratio is currently 32.29% which is virtually unchanged from last month but down from 40.82 last year.  This is certainly Buyer’s market territory.

So, why did September perform better than expected?  It’s hard to say but some think it had to do with the pending elimination of the 40 year, zero down mortgages.  Personally, I doubt that and think it was more a case of buyers recognizing opportunity with more anxious sellers.

The information contained herein is based in whole or in part on information supplied by the Georgian Triangle Real Estate Board for the period of Januaury, 2005 to September 30, 2008.

Related Posts:

August Real Estate Stats Are In For Collingwood and Area  

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When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

The costs to maintain our home never go down, do they?  Gas, electricity, cable, telephone service, water, sewers, taxes… they do take an ever-growing chunk out of our wallets each month! 

When buying a home, it’s a good idea to consider the operational costs of running the house you are considering and, looking at what improvements might be made to improve the energy efficiency of the home.  Most media today focuses on changing light bulbs.  That’s a good thing to do but in reality, lighting represents less than 5% of your over-all energy costs.

According to data provided by the Ministry of Natural Resources, a typical Ontario home can break down its energy usage as follows:

  *  Heating  57-62%
 *  Water Heating 20-21%
 *  Appliances  12-13%
 *  Lighting      4-5%
 *  Cooling      0-7%

How efficiently a home is heated is the most important consideration.  This includes looking at the building envelope for things like vapour barriers, drafts, ventalation and of course, insulation.  Is the heating source highly efficient and what changes may be needed?  Does the landscaping allow for optimal conditions for letting sunshine in or out?

The Ontario Ministry of Energy and Infrastructure provides some excellent information on their website with charts and calculators that can assist you in assessing home heating and cooling options. 

They have also established a home energy retrofit program to assist homeowners with the cost of home energy audits and grants of up to $10,000 toward energy conserving retrofits in a home.
Related Posts:

The Time Has Come To Build Green
If You Are Renovating 

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When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

I’m happy to have another guest post today from one of our favourite Mortgage Consultants, Michelle Reichart.   Thanks Michelle.

Credit reports can make or break your chances of getting finances. I can’t stress how important it is in getting a mortgage to have good credit. 

One of the most important things that lenders look at is something called your Beacon Score  which is the name given to your credit score as published by Equifax and it indicates your overall credit worthiness.  Anything over a 640 beacon score is considered to be good credit.  Anything over 680 beacon score is very good credit.  You want to be over a 680 beacon score in order to get the best mortgage rate, and better products.

People don’t take the time to look at their credit report and make sure everything is accurate.  They also don’t take the time to repair their credit report when there is a problem until it is too late and they are trying to get a mortgage. Repairing a credit report takes time.  A mortgage broker can show you ways on how to repair a credit report and to help you with this process.

Good credit means better rates, because the lenders look at the person as less of a risk.  It is all about how much risk the lender is willing to take on a person.  The more the risk the higher the rate yet, the biggest debt is a person’s mortgage and this is usually not on a credit bureau. Surprising!

Bank of Montreal reports on a credit bureau but not RBC or Scotia Bank. Virtually no non-banks report on the credit bureau either.  I think in the near future this will change.

Just because mortgages are not on your credit bureau, the lenders do check with each other.  If you have a mortgage and your credit rating is not the best, the lender will call to get a “mortgage rating”.  The mortgage rating will let the lender know if you missed a payment and what type of risk you are to the lender.

Be sure to look at your credit rating.  It is important. To see your credit rating you can go to my web-site.  Go to the drop down menu, under Residential Mortgages- hit bruised credit- bottom of page is Equifax and or Trans Union.  There is a small fee to get your credit rating.

Related Posts:

Changes To Canadian, Government Backed Mortgage Rules
Building A Home In The Collingwood ~ Blue Mountain Area:  Financing
You CAN Pay Your Mortgage off Faster 

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When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

As I’m still having trouble picturing a large completed building on the site, I like to wander by and check out the progress of the new library being built at the corner of St. Marie and Simcoe Streets.  First up is the elevator shaft which will eventually carry us up to the green roof.  Can’t wait!

By the way, you can watch a webcam of the construction on the town website.  Please tell me you have better things to do…

Related Posts:

Collingwood’s New Library Will Be Gold
What Is A Green Roof?

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When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!

It may not be a subjective or thorough study however, Relocate- Canada has named Collingwood one of Canada’s Top 20 places to live.  It’s the second time of late that we’ve been recognized in this fashion so certainly someone is out there spreading our little secret!

Here’s what they had to say about our fair town:

“Located on the Nottawasaga Bay, at the southern shore of the beautiful Georgian Bay, and at the base of the Blue Mountain, Collingwood, Ontario is known as an all year destination.  Collingwood is easily reached by Highways 24 and 26 and is only a ninety minute drive from Toronto. There are many events throughout the year.  Many festivals, including one of the world’s largest Elvis festivals, bring visitors to Collingwood in search of a good time.  Hiking, golfing, horseback riding, fishing, rock climbing, and dog sledding are just a few of the many outdoor activities that residents and visitors enjoy in Collingwood.  The downtown has been nationally recognized as a historic place, and is the first downtown in Ontario to be given this honour.
High tech and auto industries flock to Collingwood contributing greater than 20% to Collingwood’s tax  base, ensuring jobs and growth for the area.  Collingwood has a competitive edge in bringing companies to their area.  Because of its close proximity to both Toronto and the US, companies can lower production costs, labour costs, and greater numbers of customers with access to duty free shops.”

This comes on the heels of last weeks Business In Motion meeting showing that more jobs have been created than lost in recent years and that building permits are at an all time high.   All of these good news facts certainly fly in the face of the comments made by the PGIB group who incidentally have prompted the local citizenry to rally behind the actions of the Mayor and council in welcoming CLEAN industry and who have taken a hard line on ones that are not so.

Amid all the doom and gloom in the global economy, it sure is nice to read good news, isn’t it?

Related Posts:

10 Best Places To Invest In Canada;  Collingwood Is On The List
Collingwood Building Booms Continues
South Georgian Bay Growth Continues In Record Numbers

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When it’s time to buy or sell real estate in the Collingwood, Blue Mountain or Georgian Triangle area, contact Marg, an experienced and competent Broker who’s ready whenever you are!