Collingwood Blue Mountain Real Estate - Marg Scheben-Edey REMAX four seasons realty limited brokerage

May

The Most Popular Restaurant in Meaford

By Marg Posted in Local businesses, Meaford

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Leeky

It’s always amazed me that a little restaurant in Meaford could have a line-up every night of the week. But it’s true and, it is called the Leeky Canoe.

Some time ago, the Meaford Express ran a fairly substantial article about the restaurant but it doesn’t explain the success entirely. My opinion is that a) Meaford is not over-supplied with restaurants and therefore lacks much competition and b) they give lots of cheap, cheerful and carb laden, comfort food at a very reasonable price. On top of this, the service is always friendly and the tab is never a shock.

Check it out yourself. Just be prepared to wait in line.

May

Georgian Triangle Real Estate Barometer May 10-16, 2013

By Marg Posted in Market Conditions

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This market summary includes data for Collingwood, Blue Mountains, Wasaga Beach, Clearview, Grey Highlands and Meaford. The information was obtained from the MLS® statistics provided by the Georgian Triangle Association of REALTORS®. Previous week(s) in brackets. barometer4

Single Family Residential
New Listings: 67 (67, 63, 68 )
Average List Price: $471,506
Range of List Prices: $94,500 – $7,500,000
Number of Sales: 23 (24, 24, 28 )
Range of Sale Prices: $106,000 – $650,000

Condominiums
New Listings: 19 (20, 18, 24 )
Average List Price: $271,111
Range of List Prices: $110,000 – $599,900
Number of Sales: 5 (6, 9, 11)
Range of Sale Prices: $136,500 – $279,000

Vacant Land
New Listings: 20 (7, 17, 18 )
Number of Sales: 6 ( 0, 4, 6)
Range of sale prices: $65,000 – $339,500

Price Changes (up or down): 43

Notable this Week:
1 Single Family Residential listing sold at it’s list price and 1 sold over it’s list price
1 Vacant Land listing sold over it’s list price

May

Six Ways To Lose Money Upgrading Your Home

By Marg Posted in Renovating

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bad taste

One of the joys of home ownership is being able to do pretty much whatever you like to your home. If you want to put in purple carpets and paint the walls with happy faces, go right ahead. That is, if you know you will be in your home forever and a day. If on the other hand you think you may be selling in the next few years, you may wish to give some serious thought to the issue of payback on various renovations.

Some things, such as modest upgrades to kitchens and baths, will often have a good payback while other things such as landscaping are 50/50 in most cases. Some things can actually create negative value or at very least, give very little payback when you compare your investment to your new home value. Here is my top 5 list of ways you might lose money on upgrades:

Over Improvement: If you are in a subdivision where the average home has a value of say, $225,000, you shouldn’t put in a $50,000 kitchen nor should you spend $50,000 on landscaping the back yard. The neighbourhood values will prevent you from recouping a full value.
Installing a Swimming Pool: Chances are that the cost of the pool will far outweigh any benefit you would get upon sale. First of all, you will severely narrow the number of buyers that may be interested in your home since not everyone wants a pool. You know the rule about supply and demand. As demand goes down with fewer buyers, so does the price. Now on the other hand, if you are in a million dollar neighbourhood where infinity pools with waterfalls are the norm, it might actually be a good investment.
Things that get dated quickly: Some home improvements are almost guaranteed to be passé in a short period of time. Anything electronic such as a bulky surround sound or entertainment system, is likely to be a liability within a couple of years. Same with very trendy carpet colours, light fixtures and counter tops. For major investment items, it’s safest to stay with classic, tried and true improvements that have stood the test of time.
Bad Taste: Oh my gosh, this is a tough one as taste is said to be personal but sometimes, it’s so bad that it would be safe to say the vast majority of the main stream public would agree. For example, painting the walls of your living room black (don’t laugh – I’ve seen it) and installing a disco ball is not a really good idea. Nor is dark green shag carpet in the bathroom. If you are really not sure, please ask your friends and maybe a pro or two for their opinions of your planned upgrades.
Converting the garage into living space: Most people would prefer the garage and if you are in a neighbourhood where garages are the norm, this is especially true. If you really need more space, finish the basement or maybe it is time to move.
Not doing the upgrades properly: I can’t tell you how often we have home inspections and then find out that a home renovation has caused problems with improper wiring, plumbing and even drywall. We’ve seen footings give away, roof lines separate and other pretty scary consequences of bad renovations. Use a reputable contractor and do it right!

May

Are Mortgage Rates Headed Up?

By Marg Posted in Money Matters

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Do we have a looming threat of stagflation in the Canadian economy, which would trigger higher inflation and mortgage rates? This week’s guest post by mortgage planner, Dave Larock, looks at this very topic.

Anyone keeping an eye on Canadian mortgage rates should pay special attention to our Labour Force Survey (commonly referred to as our ‘employment report’), which is released by Statistics Canada each month.

The Survey gives us a bevy of useful information about whether and where our economy is adding jobs, whether average incomes are rising or falling, and whether the average worker is putting in more or less hours of work each month. Together, these factors combine to give us valuable insight into where our overall economic momentum is headed.

Here are the data from the latest report, which was released last Friday, with some thoughts on its implications for Canadian mortgage rates:

Read more on Dave’s blog…

David Larock is an independent full-time mortgage planner and industry insider. Visit his blog for many more interesting articles and some great mortgage advice.

May

Five Dollar Golf in the Town of the Blue Mountains

By Marg Posted in About Town

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P1050224 My hubby John likes to play golf but figures his skill set doesn’t justify big green fees every time he wants to bring out the clubs. A few years ago, he and my 70something Uncle discovered Tomahawk in Thornbury and they were hooked.

Situated on just over 51 acres of land just south of town, Tomahawk was developed many years ago as a Par 3, 18 hole pitch and putt course by a local fellow. He maintained it privately but opened it to the public on a donation basis with all funds going to the Schizophrenia Society of Canada. Then in the spring of 2007, he sold the land to the Town of the Blue Mountains.

The Town added soccer pitches and improved some of the golf lands making it a beautiful treasure that is affordable and enjoyable for families, youth and seniors. It is maintained through corporate sponsorships and minimal “pay as you play” fees of just $5.00 with funds used to offset the maintenance costs of the facility now called, the Tomahawk Recreation Complex. Golf is available on a first come first serve basis and tee times are not available.

To get there, take Highway 26 West to Thornbury and turn south onto Grey Road 113 (just east of Goldsmith’s Fruit Stand). Turn right onto Peel Street (10th Line) first entrance on the right. The civic address 417230 10th Line.

P1050226 P1050225

May

Georgian Triangle Real Estate Barometer May 3-9, 2013

By Marg Posted in Market Conditions

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Real Estate Barometer Collingwood, Wasaga Beach, The Blue Mountains, Meaford, Clearview

Single Family Residential
New Listings: 67 (63, 68, 68 )
Average List Price: $487,132
Range of List Prices: $115,900 – $1,800,000
Number of Sales: 24 (24, 28, 24)
Range of Sale Prices: $36,000 – $800,000

Condominiums
New Listings: 20 (18, 24, 13)
Average List Price: $286,825
Range of List Prices: $129,900 – $589,900
Number of Sales: 6 (9, 11, 9)
Range of Sale Prices: $149,000 – $332,000

Vacant Land
New Listings: 7 (17, 18, 17)
Number of Sales: 0 (4, 6, 6)
Range of sale prices: n/a

Price Changes (up or down): 50

Notable this Week:
3 Single Family Residential listings sold at their list price
2 Single Family Residential listings sold above their list price

May

As Water Levels Decline, Who Owns the Extra Beach?

By Marg Posted in Buying Real Estate, Vacation Property

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receding water Just last week, one of my clients asked me this exact question and then lo and behold, the next day I got my newsletter from Real Estate lawyer, author and speaker, Mark Weisleder addressing this very issue. In the email, Mark said:

“Lakefront cottage purchases have many challenges, particularly with respect to who owns the land at the water’s edge. Please see the attached article, which discusses the range of issues when buying or selling a lakefront property and the importance of understanding whether a 66 foot shore allowance applies to the property and whether it has been properly closed by the municipality and transferred to the owner. Otherwise, you could have a situation where the cottage is built on land that is not owned by the seller.”

Here is a link to Mark’s article on this topic as it appeared in the Toronto Star.

As you can read, the answer is not an easy one and depends on how the current deed is written among other questions. Buyers of waterfront properties should ALWAYS get a full legal opinion regarding the ownership rights and obligations of such a property.

May

Georgian Triangle Real Estate Barometer April 26 – May 2, 2013

By Marg Posted in Market Conditions

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Georgian Triangle Real Estate Barometer

Single Family Residential
New Listings: 63 (68, 68, 68 )
Average List Price: $478,511
Range of List Prices: $149,900 – $3,950,000
Number of Sales: 24 (28, 24, 26)
Range of Sale Prices: $170,000 – $520,000

Condominiums
New Listings: 18 (24, 13, 25)
Average List Price: $314,955
Range of List Prices: $82,999 – $699,000
Number of Sales: 9 (11, 9, 3)
Range of Sale Prices: $123,800 – $267,900

Vacant Land
New Listings: 17 (18, 17, 15)
Number of Sales: 4 (6, 6, 4)
Range of sale prices: $79,000 – $250,000

Price Changes (up or down): 49

Notable this Week:
2 Single Family Residential Listings sold at their list prices, and 1 sold for more than it’s list price
1 Condominium Listing sold at it’s list price
1 Vacant Land Listing sold at it’s list price

May

April 2013 Real Estate Market Recap For Collingwood, Blue Mountain and Area

By Marg Posted in Market Conditions

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Slowly but surely, the market is waking up along with the daffodils. As we began the second quarter last month, sales remained comparable to last year with a slight increase of about 4% in the number of properties sold. Compared to 2011 though, it was a banner month as sales were 27.5% higher than in April 2011. The dollar value of the sales was actually down a little suggesting that most of the activity is still in the more moderate price ranges and as has been the case for some time now, the most active price range is in the $200,000 to $300,000 range. Sales in the upper end have remained slow keeping the average sale prices down. This chart shows market activity in all areas.

market summary

There were some competing offers this past month on in-town, residential properties in most of the towns we serve but again, they were ones priced under $225,000 and in good condition. We also saw competing offers on some condominiums that were well located (water views) and in pristine condition with excellent pricing. It seems that buyers really are looking for new, shiny and move-in units.

The sales to listing ratio is in balanced market conditions in Collingwood but remains in buyers market territory in all other areas served by our board. Meaford in particular has had a challenging year. Here is a snapshot, by area, of the six main communities we serve.

By area

There are currently 2226 properties listed for sale, of all types, in the whole of the Georgian Triangle.

It’s always a pleasure to meet new people and to assist them in meeting their real estate goals. If you would like to schedule a buyer or seller consultation with me, please feel free to email me or call at 705-446-1762.

May