Recent propertyguys.com survey

I was asked by propertywire.ca to comment on the recent survey conducted by propertyguys.com which states consumers save money selling privately. Got a lot of interest...and comments!

Hamilton #1 in Ontario for investing

As announced in the Hamilton Spectator, May 10^th, Hamilton is now ranked as the top city in Ontario for investing. According to Don R. Campbell, real estate investment author and president of the Real Estate Investment Network, “Hamilton is 3^rd in Canada, after Kitchener/Waterloo and Edmonton.”

Don also stated that FDI Magazine ranked Hamilton 3^rd for “quality of life” which surprised most of the crowd that had gathered at Hamilton’s Warplane Heritage Museum for the annual Commercial Realtors Summit.

Canadian Business Magazine ranks Hamilton as the 7^th best place in Canada to do business and both Glanbrook and Flamborough were cited for realizing the most growth in the next 10 years.

As for proximity to Toronto, Don states that “People measure distance in minutes not kilometres these days,” meaning that the distance for a Toronto commuter is actually getting shorter (in time) due to the improving infrastructure such as the 407 and 401 improvements.

When the Rapid Transit System slated for downtown Hamilton hooks up with the improved GO train operations within the next 15 years, residents from downtown Hamilton will be able to get to downtown Toronto in just about an hour…by mass transit. Thanks to much lower housing costs in Hamilton, that means a lot of Torontonians will be moving here. Don mentioned Vaughn and Richmond Hill as two GTA suburbs where a lot of people are looking to Hamilton for a move. Distances to downtown are similar but the cost of living in Hamilton is so much lower.

STUDENT HOUSING

Of particular note to investors who read this blog regularly is Don’s insight into Student Housing. Noting that a large percentage of graduating students leave the city after school, he says the city has to recognize what is required in order for University-age citizens to initiate the next “Facebook” or “My Space”.

“These people congregate in small units, living commune style, incubating the next great enterprise.” He stresses that the City has to allow for this type of housing in order to keep students here initially.

“After a few years, these same incubated companies will have 15-20 employees and renting space in bigger complexes here in town… But they start in tiny residences or student homes.”

He warns the City to watch Waterloo and see what happens if they pass the licensing law restricting rooms to 4. Waterloo has already experienced increased prices in student homes, leaving many investors looking to Hamilton or London to invest. Licensing single-family homes, he feels, is only one solution to the problem of controlling a growing student population. Better solutions would aid investors to sink money into properties, while simultaneously encouraging students to stay in town and grow their tiny businesses here.

by Robert J. Morrow, editor: http://www.hamiltonhomereview.com/
Sales Rep: Chase Realty Inc., Brokerage

Tip 31, Buying a Condo or Home in Burlington, Ontario - How to Start?

Tip 31, Buying a Condo or Home in Burlington, Ontario - How to Start?

Another 8bdrm student home on the books

It's getting harder to find good residential homes in Westdale to convert to student homes. But Q and the boys did it again! A month or so of reno's and we'll have another 8 bedroom to fill. Congrats guys.

Try as they might, the Government didn't slow down home buyers

The federal government's newly implemented conditions for mortgages reduced the maximum amortization period for government-insured mortgages to 30 from 35 years, and limited the amount people can borrow when refinancing their mortgages to 85 from 90 per cent of the value of their homes.

But rather than diminishing overall demand, the new rules are prompting many to compromise on their expectations.

"Many purchasers intent on realizing home ownership are scaling back on expectations or are willing to sacrifice location, quality and/or size to make their dream a reality, not unlike generations before them," said Michael Polzler, Re/Max's executive vice-president for Ontario and Atlantic Canada.

In fact, first time home buyers are boosting sales to record proportions across the country.The Vancouver region is particularly strong, with sales up about 12 per cent and prices rising 20 per cent.

Some of biggest sales gains are in the West including Saskatoon's 15 per cent gain and Winnipeg's growth of 11 per cent.

Some of the other areas where price growth is strong include Hamilton (eight per cent), Quebec City (seven per cent), Winnipeg (seven per cent), Toronto (five per cent) and Montreal (five per cent).

In our recent experience, a very large percentage of buyers in the market now are first timers. Gov't tactics are not going to dissuade them when the alternative is outrageous rent prices.

Robert J. Morrow, editor: http://www.hamiltonhomereview.com/

Oh What A Feeling!

Open House at 16 Farah Court today. Nice 4bdrm on Hamilton Mountain.
Then off to see CROWBAR at Leander. Oh What a Feeling!

Open House and then Mussels!

Open House today from 2-4. Looking for a condo in West Hamilton? 100 Beddoe Street (off Aberdeen). Go to www.HamiltonHomeReview.com to see pics and info. OR just drop by and say hello. Then we go to Koosh in Westdale again for all-you-can-eat mussels in four different sauces...awesome! Our favourite part of doing an open house is rewarding ourselves by eating out after 'cause I simply don't have time to cook.

Thinking of moving to Retirement Living?

Know anyone thinking of moving into retirement living? We have recently made connections with several of the leading luxury properties in Hamilton and Burlington. This allows us to sell your current home at a greatly reduced commission and liaison with the home to make it a smooth transition.

Choosing a list price for your home...

One of the best ways to choose a list price for your home is to visit other listings in your neighbourhood. Your agent willl gladly do it but may not think about taking you in with them, it so don't be afraid to ask. Leona and I are visiting 3 homes tomorrow to help her understand pricing for end of this month when hers goes up.

What's the difference between a mortgage broker and a bank?

Click title to view video by editor on YouTube

House sales in Hamilton for February

A report on house sales for Feb/11 from the Real Estate Association of Hamilton/Burlington:
"The number of residential properties sold during February totalled 897, and included 702 freehold properties and 195 condominiums. Commercial sales for February, including industrial, farm, vacant land and business, totalled 29 units....

Time to buy down south!

With all this cold weather, you might be thinking of moving south. We've developed some great relationships with agents in various southern destinations. Check it out. Vacation Properties