Welcome to our final newsletter of 2009! Once
again, it's filled with timely information that
we think will be of interest to you and that,
hopefully, you will share with your friends and
associates as well. In fact, my Blog and our archived
newsletters are always good central sources of
real estate information and you can also look
me up on Twitter and Facebook for quick updates!
Effective 1 December 2009, the Department of National
Defence (DND) is commencing a new relocation contract
with Brookfield Global Relocation Services (a
parent company of Royal LePage). DND clients who
are transferred, or who have friends that are
transferred, may want to contact
David to see how these significant changes
may impact the sale of their home in 2010.
In the new year, we will also be introducing our
first Business Directory. It provides quick access
to contact information for local businesses, all
three levels of government, and more. Before we
go to print, please feel free to let us know if
you have a business you'd like to promote or if
you've been especially happy with the service
you've received from a Quinte area business and
think they should be included in our Directory.
Finally, a few years ago I decided to expand my
business to be more than just me. While moving
to a team concept seemed to go against the norm
at the time, today many industry experts acknowledge
that Teams are the way of the future in the real
estate industry. Witness, in 2001 only 4% of real
estate transactions involved a Team. However,
in 2008 46% of all transactions were Team related.
This statistic is staggering. This shift to a
Team concept has clearly taken hold very quickly
and today the 'real estate team' is a powerful
force. It's hard to argue against multiple experts
working together to bring about timely and effective
results. We know that by putting our clients first,
our Team will continue to be the one you call
first!
Be confident as we move into 2010! As you will
see below, there has been some recovery in the
Real Estate market and there seems to be general
agreeement that the worst is over. In the meantime,
best wishes for a safe, relaxing and enjoyable
holiday season with family and friends and we
look forward to seeing you in the new year!
National
Perspective 2009 has seen home sales activity lagging
approximately one month behind typical seasonal
patterns.
Overall, the average price of a home in Canada didn't
change much, year-over-year. The average two storey
home in Canada was comparable to a year ago (up
0.1 per cent) at $409,335. Average bungalow values
increased 0.06 per cent year-over-year to $341,146,
while the price of an average condominium increased
0.09 per cent to $243,748.
The market recovered unevenly. In the first quarter
of 2009 we saw the return of first time purchasers,
followed by cautious move-up buyers. In the third
quarter, sales activity in the higher priced regions
of the country and more expensive property categories
picked up momentum, and activity in those segments
began to catch up to the lower priced categories.
With the widespread availability of affordable
mortgage financing, and only modest increases
in home prices, affordability is better now than
it has been in a number of years. We expect house
prices and interest rates to remain relatively
stable into next spring which would keep affordability
levels intact.
Although we are witnessing modest economic recovery,
fears over job security and economic instability
will keep many Canadians in their current homes.
Anxious homeowners are less likely to move, but
as their confidence in the economy recovers, more
people will put their homes up for sale and our
current supply crunch will be lessened. Once housing
supply returns to normal levels, we believe the
economy will support modest pricing growth into
2010.
Information provided by Phil
Roper, President Royal LePage
Quinte Area Numbers Residential sales for October 2009
increased by 43.1%, going from $31,036,228 in
2008 to $44,398,340 in 2009.
The number of new listings, year to date, decreased
9.9%, from 7,101 in 2008 to 6,396 in 2009. The
new Residential listings for the month of October
decreased from 429 in 2008 to 344 in 2009.
October is the 4th consecutive month sales have
been up in the Quinte & District Real Estate
Board area. This is following the National trend
across Canada. Monthly sales in all categories
were up 25.4% compared to October 2008; 262 sales
for 2009 vs 209 for 2008. The $100K - $200K range
is the main staple in our market at the present
time, with the $200K - $300K range being the 2nd
most prominent market for sales.
Information provided by Quinte
& District Real Estate Board Press Release
Your Customer Appreciation Day
has been announced! Team David Weir is inviting
you to join us for a complimentary family
movie at the Empire Theatre on Saturday,
23 January 2010. We have purchased tickets
for the 2:00 PM showing so be sure to mark
your calendars early! The movie, popcorn
and a drink are all on David! Stay tuned
for the name of our Feature Presentation
and for details on how to move to the front
of the line for tickets.
Florida Resort Giveaway
Just a reminder that we're encouraging
entries for our annual Florida getaway.
Anyone who has bought or sold Real Estate
with Team David Weir, or who has referred
clients to us, is welcome to participate
as a token of our appreciation for your
business and your confidence in us as your
Team of choice.
If accommodation at a luxury
resort or at an executive condominium on
the fabulous Gulf coast appeals to you,
be sure to send Donna
an email with your name and contact information.
Last year's winner told us they "...
had a great time. The place was just beauitful
and the girls' eyes were so big when they
saw Disney World." You could be next!!
Colin James
Six-time Juno award winner
Colin James is returning to The Empire
for what will likely be yet another sold
out performance. A singer, guitarist and
big band leader, Colin is touring in support
of his new release 'Rooftops and Satellites'
created in collaboration with Tom Wilson
of Blackie and the Rodeo Kings. Showtime
is Thursday, 28 January at 8:00 PM. Email
Donna
if you would like to be amongst the audience
for this great show!
Did you know that basement leaks are the number
one major complaint from new home owners? According
to Ontario New Home Warranty Program (Tarion)
statistics, the average basement develops two
leaks in the first two years after completion.
The notable areas are cracks, form tie holes,
and honeycombing.
Building a dry basement requires an effective
drainage system and wall assemblies that are more
or less water resistant. However, we as Homeowners,
can contribute to keeping the basement dry by
controlling run-off from on and around the house.
What's surprising is that something as simple
as a low-lying flower bed can often be the major
contributor to a wet-basement problem. Take a
long, hard look around your house. Are the eves
all fitted with eavestroughing,
and do the troughs drain freely into downspouts
and discharge at least two meters away from the
house? Has the backfill around the foundation
settled? Any other low-lying areas? Watch where
the water goes during a rain storm, or spring
melt. If water drains from the street or other
areas, towards your house, consider landscaping
features which can guide the water away.
For more information about the causes and types
of wet basements, check out this All
Around the House article.
If you're soon to be in the market for home or
auto insurance and want to make sure you're getting
the most bang for your buck, check out these sites.
They allow you to compare different types of insurance
with various companies based on your postal code.
How efficient is that? No going through a long
automated telephone procedure, no long conversations,
and all from the comfort of your own home. The
two companies are Kanetix
and InsuranceHotline.com.
Let me know what you think once you've given them
a try!
If you're preparing to place your home on the
market, it's inevitable that you'll need a couple
of minor repairs and slight improvements before
that "For Sale" sign can be driven into
the front yard.
Practical projects like a fresh coat of paint
require little time or money but can make your
home more attractive -- and more attractive homes
are likely to sell faster and for more money.
But what if your home needs more substantial
upgrades? The chart below might help you decide
if the investment is worth the return. If you're
not sure you'll increase the value of your home
enough to recover the cost of your renovation,
be sure to call David for a pre-listing appointment
before you start.
Kitchen
Renovation
$7,500
Kitchen Counter - laminate
$40 per linear foot
Kitchen Counter - marble
$75 per linear foot
Floors
Hardwood Floor Refinish
$2 - $5 per square foot
Ceraminc Tile
$5 - $10 per square foot
Carpet Cleaning
$100 per room
Deck
Pressure Treatment
$15 - $25 per square foot
Custom Design & Built
$50 - $75 per square foot
Security System
Alarm System
$2500
Alarm Monitoring
$30 per month
These estimates reflect the average basic costs
for supplies and installation of building materials
but will vary depending on region, upgrades, complexity,
and disposal fees.
Carbon Monoxide (also called CO) is a poisonous
gas that you can't see, smell or taste.
It's produced by the incomplete burning
of fuels like natural gas, propane, heating
oil, kerosene, coal, charcoal or wood due
to inadequate air.
Improperly installed or poorly maintained
appliances that run on these fuels can create
unsafe levels of CO. In enclosed spaces
like your home, cottage or vehicle, even
a small amount of CO is dangerous.
Other sources of Carbon Monoxide
within the home may include:
Fuel-burning appliances, venting
systems and chimneys that haven’t been
serviced or regularly maintained by a qualified
heating contractor.
A chimney blocked by a bird
or squirrel nest, snow and ice or other debris.
Improper venting of a furnace
and cracked furnace heat exchangers.
Exhaust fumes seeping into your
home from a car running in an attached garage.
Using fuel-burning appliances
designed for the outdoors (like BBQs, lanterns,
chainsaws, lawnmowers, snowblowers) in a closed
area (like a tent, recreational vehicle, cottage,
garage, workshop).
Combustion gases spilling into
a home if too much air is being consumed by
a fireplace, or exhausted by a kitchen or
bathroom fan, in a tightly-sealed house.
For more information about the danger
signs, prevention, and actions to take if you suspect
Carbon Monoxide in your home, see the Technical
Standards and Safety Authority article
in its entirety.
Your home is your most important investment and
you'll want to do everything you can to make the
most of it. Take a look at the checklist below.
The more of these steps you can tick off, the
better your mortgage health.
Accelerate your mortgage payments.
Choose a shorter amortization
period.
Take advantage of mortgage pre-payments.
Make a lump-sum payment when
you renew.
Revisit your comfort level when
renewing.
Think about your short-term
plans.
Consider a blended-rate renewal.
Factor in potential costs when
refinancing.
Use your home equity to borrow
at more attractive rates.
Check your insurance.
Don't forget about your RSP.
Information courtesy of Scotiabank's
MyVault. Click here
for more details about each of the points above.
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