Well, it has indeed been another very busy season
in the Real Estate business, although there is
no question that sales have started to slow and
it's becoming a Buyers' market. As you can see
from the Quinte & District Real Estate Board
statistics shown in the table below, fewer properties
have sold in 2008 compared to the same period
in 2007 and the average residential property price
has increased in 2008.
2008
2007
%
change
Sales
(all property types) to 31 May
1,373
1,663
-17.4%
Sales
(all property types) for May
416
510
-18.4%
Average
Residential Sale Price to May
$195,094
$180,116
8.3%
Average Residential Sale Price for May
$206,715
$200,023
3.3%
Number
of Residential Listing in May
771
627
23.0%
Nationally, more balanced housing markets in
many provinces are causing price gains to shrink.
The national MLS® residential average price
rose 1.8% year-over-year to $318,761 in May 2008.
This is the highest level ever for average price,
but the smallest year-over-year price increase
in seven years. MLS® residential average price
scaled new heights in Manitoba, New Brunswick,
Nova Scotia, and Newfoundland & Labrador in
May .
Some other recent news in the Real Estate industry
came this week in a government of Canada announcement
that, effective 15 October 2008, there will no
longer be 100% financed mortgages nor will there
continue to be 40-year amortization periods. Mortgages
will only be amortized up to 35 years and Buyers
will have to have 5% down to purchase a home.
Click here
for the Globe and Mail's summary of the details.
On a lighter note, we would like to introduce
a new member of Team David Weir. Chelsea,
our daughter, who has recently graduated from
Queen's University with a Bachelor of Arts (Honours)
in Sociology, has come on board this summer. You
can expect to hear Chelsea on the phone and see
her in your neighbourhood soon!
As always, we are continuing to look for new
ways to improve customer service and have thus
added a new feature to our website which will
allow new Buyers and Sellers to provide us with
online feedback. If you bought or sold a house
in 2008, you are eligible to win a digital camera
by simply filling out our short survey and submitting
it to us online. All participants will automatically
be entered in the camera draw at the end of the
year. You can find the link on our homepage
at the 'Win' button.
We would also like to remind all our incoming
Buyers that you are entitled to one hour of staging
or handyman services as part of our commitment
to making your home-buying experience as stress-free
as possible. Just give Janet a call when you're
ready and we can arrange to have one of our professionals
meet with you at your home.
Finally, don't forget about our Annual Open House
which takes place the first Sunday after Labour
Day. Flyers and reminder emails will be sent out
to everyone later in the summer. We look forward
to seeing new and familiar faces!
Many thanks to all for your support again this
year. As always, feel free to give myself or Donna
a call with comments or ideas for our Newsletters.
It's that time of year again when
we start to accept names for the annual Florida
getaway. This year we're changing it up and are
going to be offering accommodation in Fort Myers,
Florida on the lovely Gulf coast. The ground-floor
condo features 3 bedrooms and is located directly
across from the marina. Check out the virtual
tour of the condo and learn about the property
at the Landings,
which features on-site golf, tennis, and boating.
In addition to changing the location,
we're also offering a second draw. The first draw
will take place during our Annual Open House on
7 September, and the second on 16 March 2009.
Entries will be good for the two draws so be sure
to email your name to Donna
early to be eligible for both. Remember, if you
don't enter, you can't win!
Big
Music Fest Ticket Winners
Congratulations to Nancy Harvey & Darron
Bazin, the lucky winners of the Big Music Fest
tickets. I understand that the Tragically Hip
were smoking hot and that everyone had a fantastic
time. So what's next for the Quinte area? Check
out the next heading!
Empire
ROCKFEST
Get ready to rock and roll! During
the weekend of July 24th - 26th the Empire Square
Live will feature three amazing nights of entertainment
that you can be part of. Artists such as Tom Cochrane,
Bachman-Cummings, Steve Winwood, David Wilcox,
Mark Farner, Colin James, and others will be in
the house! Check out the Empire
Theatre for details about each show.
David is offering tickets to all three evenings
so be sure to send in your name to Donna for a
chance to win tickets to see these amazing Rockers!
Draw will take place on July 15th, so keep your
calendar free until then.
Each year, roughly 40,000 people in North America
are treated for injuries related to handrails,
railings and banisters. Approximately 1,200 die
from these injuries.
Ensure existing railings are well secured and
not deteriorated by visually examining them for
rust or rot. Next, grab the railing and shake
it but be careful you don't fling yourself off
the porch or deck by breaking the railing.
Make sure the railing will do what it's supposed
to do -- keep people from falling off a deck or
a porch and make it difficult for children to
climb over or through the railing.
Building codes vary from region to region but
most older railings do not comply with local codes.
Modern railings are usually 42 inches high if
the deck or the porch is more than six feet off
the ground. If the fall would be less than six
feet, the railing height only needs to be 36 inches.
On stairs leading up to decks or porches, railing
heights are often 31 to 34 inches.
Modern railings have spindles spaced so that
a ball with a four-inch diameter cannot be passed
through the spindles. This is to ensure that toddlers
cannot squeeze through or get their heads caught
between the spindles.
The design of the spindles should not create
a "ladder effect." In other words, the
railing should not have horizontal components
that can be easily climbed by a child. Flower
boxes, benches and the like should not be placed
against railings or fastened to railings. They
make it easier for kids to climb.
Pet urine on the condenser coil (outdoor unit)
of your air conditioning system will cause an
acid-like reaction and render your system unusable
within a surprisingly short period of time.
The not-quite two year-old high efficiency Amana
air conditioning system shown in these complimentary
photos was an over-winter victim of Fido and his
friends, who repeatedly marked the coil by peeing
on it. Short of offering up the family pet for
adoption, there is an easy and effective solution.
At the end of the cooling season, wash the entire
cabinet and coil with soapy water in a spray dispenser
connected to your garden hose, and then wrap up
the entire cabinet with an appropriate cover designed
for your system. Covering the outdoor coil will
deprive your pooch and his buddies of their favourite
pee spot for the other nine months of the year!
Article Courtesy of Electrospec
Home Inspection Services
Return
to Top NEW
FEDERAL RULES FORCE REALTORS® TO ASK FOR ID
Effective 23 June 2008, new federal laws triggered
major changes to real estate transactions, as
part of federal efforts to battle money laundering.
Under the new regulations, REALTORS® will
have to collect personal information from property
sellers and buyers, such as their name, address,
date of birth and occupation, backed up by identification
such as a driver's licence or passport. When dealing
with foreign buyers, agents in Canada will now
have to hire local agents who can vouch for the
identity of the buyer. For more insight on what
to expect during your next real estate transaction,
check out the following articles: CTV.ca,
Globe
and Mail, and Toronto
Star.
On May 14, 2008, amendments to
Ontario's Land Transfer Tax came into force, expanding
the Ontario Land Transfer Tax refund for first
time buyers to include purchases of resale homes.
Previously, eligible taxpayers had been able to
claim a refund only if they purchased a newly
constructed home.
Expanding this Land Transfer Tax
refund is part of the package of new tax initiatives
announced in the 2007 Fall Economic Outlook and
Fiscal Review and provides $1.4 billion in provincial
tax relief for business and people over three
years.
First-time buyers of resale homes,
as well as newly constructed homes, are now eligible
for a refund from the provincial government of
up to $2,000 of the Land Transfer Tax paid upon
registration. Eligible taxpayers can make refund
claim with respect to the transfer of a resale
home only if the agreement of Purchase and sale
was entered into after December 13, 2007.
An asphalt driveway
is one of the most common surface types in this
area. Sealing an asphalt driveway and dealing with
problems promptly will prolong the life of your
driveway.
Scrape weeds away with a spade or lawn edging
tool. Fill cracks as soon as you notice them or,
in this part of the country, it's best to fill
them during the winter when the cracks are widest.
For cracks 1/8" and smaller, a rubber sealer
or filler can be used. Anything bigger requires
some type of crack filler. Cracks should be as
clean and dry as possible before applying the
filler. Compact the material with a tamper or
by placing a board over the area and driving your
car over it.
Clean oil spots with a diluted driveway cleaner
as soon as possible. The longer it's let to set,
the harder it will be to remove later on.
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