2017 Winter Newsletter

winter-photo2What makes a good neighbourhood?

There’s an old saying that the three most important things in real estate are location, location, location. When you’re house hunting, it’s important to remember that when you buy a home you’re also buying the neighbourhood.

You can get a sense of the community by visiting the area you’re considering on different days of the week and at different times of the day. Talk to residents–they’re a wealth of knowledge about area amenities and community spirit. Read the local newspaper to get up to date on current initiatives and upcoming developments. You might even visit a local community centre to get an overview of what’s going on in the area.

The resale potential of the neighbourhood is important too. Your Coldwell Banker sales representative can create a report for you, showing the properties listed and sold in the area and discuss appreciation in property values to help you make an informed decision.

winter-photo3Selling smarter with ‘Smart Home’ technology

Smart home technology’s time has come and real estate professionals are well aware of that. Sellers have started to use smart devices as selling points to differentiate their homes from others on the market. These attention-grabbing features can dazzle buyers unacquainted with the technology and reassure the growing number of buyers looking for a connected home.

Homeowners wanting to upgrade with smart home features may want to start with a smart thermostat which can provide an immediate money-saving impact. It allows homeowners to cut back on heating and cooling bills without sacrificing comfort. With smart thermostats, they can set the house to be much colder during their absences and still return to a toasty living room just by letting the house know they’re on their way home.

A smart lighting system can also be a sound investment. They can be programmed to react to the presence of residents, so they’ll come on and turn off when someone enters or leaves a room. Besides being energy efficient, it’s also pretty impressive when buyers tour your property.

winter-photo4Regional disparities impact a record year

Industry forecasts predict 2016 was a record year for the Canadian real estate market. The Canadian Real Estate Association (CREA) forecasts national MLS(R) sales will finish 2016 at 536,700 units, a new record. National sales are expected to continue at a strong pace this year, with CREA predicting 518,900 homes will be sold in 2017 despite limited inventory of homes for sale in many major markets.

While it’s interesting to review national trends, regional disparities are becoming increasingly prevalent in markets across the country.

  • BC sales are showing signs of returning to more normal levels after a 15% foreign buyer tax on Vancouver area homes was introduced in August.
  • Ontario sales continue to set new records despite an unprecedented supply shortage in Greater Toronto and surrounding area

Real estate is a national business that is transacted locally. Home sales and prices can vary dramatically between communities, within neighbourhoods, or even on the same street. That’s why its so important to get data that’s specific to your market. For a closer look, contact Gary & Debbie, your local Coldwell Banker professionals.