Call Durham Region Home - Real Estate Blog

#GTARealEstate stats are in for December and #DurhamRegion continues to show strong growth with average sold prices up across the board. Where did sale prices rise the most YoY (year over year)? Oshawa saw a 43% jump in the average sold price for a detached home in December.
Have a question about the market? Just ask.
. @sellwithstanton
Jim Stanton 905-409-9967 Office 905-434-2022
jimstantonrealtor@gmail.com


 











#durhamrealestate #torontorealestate #gtarealestate #durhamhomes #whitbyrealtor #whitbyhomes #whitbyrealestate #oshawarealestate #oshawahomes #brooklinrealestate #brooklinhomes #claringtonrealestate #claringtonhomes #pickeringrealestate #pickeringhomes #ajaxrealestate #ajaxhomes #realestatestats #realestatesales #sellwithstanton

Read full post

I have listed a new property at 865 Simcoe ST S in Oshawa.
Must See Investment Opportunity! Legal Duplex Totally Renovated with Electrical, Plumbing and Building Permits Located Minutes To 401 & Go Station. 2 Bed 1 Bath Unit With 10Ft. Vaulted Ceilings, Large Outside Composite Deck- 1 Bed 1 Bath Unit With Large Entryway And Coat Closet And Fenced Outdoor Area.Finished Bsmnt With Kitchen & 4 Piece Bathroom Potential For Office Or Apartment. 2 Driveways With Parking For 8 +, 3 Meters, 3 Panels, Stainless Steel Appliances, Loads Of Upgrades
Read full post

What’s driving real estate demand as we start 2022?


The GTA market continues to be affected by a housing supply crunch and an ongoing demand. While 2021 was the best year for new housing starts in Ontario since 1977 buyers won’t likely see the benefit from added inventory for at least a couple of years. Across the province, we have a long way to go in terms of adding housing inventory to meet demand. Currently, a large number of buyers from 2021 are still trying to make a purchase in 2022 and that will keep demand high to kick start 2022. 

Expect to see a very strong return of international immigration further increasing demand for housing in the GTA throughout 2022. Canada reached its 2021 target adding 401,000 new permanent residents and plans on adding 411,000 new immigrants in 2022 to support economic growth and shore up labour shortages across the country. The influx of new residents will keep the housing market competitive.

So what’s the bottom line? 2022 will continue to be a good year to sell with high demand and prices forecast to increase.

Sources:

https://www.reuters.com/world/americas/canada-meets-2021-immigration-target-with-401000-new-permanent-residents-2021-12-23/

https://www.canada.ca/en/immigration-refugees-citizenship/news/notices/supplementary-immigration-levels-2021-2023.html

https://financialpost.com/moneywise-pro/no-relief-in-2022-experts-predictions-for-canadas-housing-market 


What could slow the housing market in 2022?


The obvious answer is an increase in lending rates. Mortgage interest rates have already seen slight increases in 2021 and the Bank of Canada has hinted that it will be tightening its policies in 2022. In 2021 we saw changes to the mortgage stress test moving from 4.79% qualifying rate to 5.25% and a 0.5% increase in mortgage rates, in 2022 we may see more increases.


“Doug Porter, chief economist and managing director at BMO Financial Group, says financial markets are bracing for as many as five 25-basis point increases in the Bank of Canada’s lending rate next year, which would take it to 1.5 percent from 0.25 percent today.”  - Financial Post


The key factors impacting potential rate increases could be the impact of inflation on the economy, the impact of COVID-19 variants like Omicrom as well as the US Federal Reserve who have already positioned themselves for a rate hike in 2022. As a general rule of thumb, US interest rate changes tend to have an impact on longer-term loans like mortgages in Canada.


Look for mortgage rates to increase throughout the year. As prices rise and borrowing costs grow we could see a slow down in sales volume and there is potential prices level off but even a 1.5% bump in interest rates would still be below the qualifying rate for mortgages. With inventory so low it may not have a huge impact on prices.


So, what’s the bottom line? Mortgage rates will affect borrowing costs but not necessarily impact pricing and there will still be lots of buyers competing for a limited supply. If you’re thinking of making a move start preparing now. Talk with your lender about how rising rates could impact your actual borrowing costs as the year unfolds and start looking for available homes in your desired areas. It may take time to find what you’re looking for so being proactive will put you in a more favourable position.


Need a reliable contact to discuss your mortgage needs? Message us and we can provide some excellent options.


Sources: 

https://www.cbc.ca/news/business/powell-canada-rates-column-don-pittis-1.6286628

https://time.com/nextadvisor/mortgages/mortgage-prediction-2022/https://financialpost.com/moneywise-pro/no-relief-in-2022-experts-predictions-for-canadas-housing-market 


What else could impact the market in 2022?


There are a few unknowns that may have an impact on the GTA real estate market in 2022. Government intervention into the housing market is always a cause for concern and the mortgage stress test is also being revisited in 2022. In 2021 the housing market was front and centre during the federal election and it will be a defining issue in this year’s provincial election but regardless of the outcome, we’re not likely to see the effects of federal and provincial elections in the form of intervention in 2022. 


Covid-19 and the uncertainty surrounding the Omicron variant is also an unknown factor. Although if history is any sort of predictor COVID-19 should have little impact on the trend in real estate prices. Recall in 2020 when the CMHC predicted a 9-18% drop in housing prices at the beginning of the pandemic and since that time the market has been on fire with the average price for a home in Ontario increasing by 44% (CREA). In Durham Region, the average sold price of a detached home in December was $1.178MM and in Toronto $1.69MM. 


So, what’s the bottom line? If you’re planning on buying in 2022 a change to the mortgage stress test could impact what you can afford so getting out ahead of any changes could help. So far COVID-19 has not had a negative impact on real estate prices and we’re not seeing policy changes impacting housing yet, but these are factors to watch.


Sources: 

TRREB Market Watch December 2021

https://www.cbc.ca/news/business/crea-housing-november-1.628649https://www.bnnbloomberg.ca/cmhc-stands-by-forecast-for-sharp-price-drop-in-canada-1.1497129

https://www.cbc.ca/news/canada/toronto/ontario-housing-costs-home-prices-ndp-liberal-green-1.6284033 



Most experts agree that the GTA real estate market cannot continue on its current trajectory forever and feel 2022 should start off strong with similar sales numbers to 2021 yet they expect the market to slow as we move into the second half of the year and rising interest rates take effect. That may be true but don’t expect a reverse in pricing trends. As per Clayton Jarvis of Financial Post’s Moneywise column “People have been calling Canadian real estate’s upward trajectory ‘unsustainable’ for almost a decade now.” 


Sources: https://financialpost.com/moneywise-pro/no-relief-in-2022-experts-predictions-for-canadas-housing-market 


So, what’s the bottom line?


You decide what’s best for you. If you’re waiting for the perfect timing to make your move you could be waiting a while. The reality is that there is never a perfect time to move. It’s about what’s right for you and your goals for homeownership. If you’re thinking about making a move in 2022 your best bet is to speak to a Realtor® and get the lay of the land in your community. We can help you with 40+ combined years of experience helping people just like you buy and sell in the GTA. We can connect you with trusted lenders and support you through the process from start to finish.


Contact us at: P: 416-571-5272 E: brian@sellwithstanton.com S: @sellwithstanton
Read full post

It can take lots of planning before you are ready to move. Now is the perfect time to start preparing by tackling the "to do" list. Here are 4 tips to help you prepare for selling your home in the new year.


1. Organize your paperwork and finances


You will need your property tax information, a property survey (if you have one), appliance manuals, receipts and warranty documentation for any renovating and updating that has been done to the house.  You will also want to organize all of the necessary paperwork for applying for a mortgage if you are planning on obtaining financing to purchase your new home.


2.  Make a list of repairs that will need to be done.


Go from room to room and see what needs to be painted, touched up, cleaned, repaired or replaced. These minor repairs will help show your home in its best light, leading to more interested buyers and ultimately more money in your pocket. Once you've compiled a list, make a plan to tackle these jobs.


3.  Complete routine home maintenance.


Similarily to completing minor repairs, by taking care of general home maintenance the potential buyers will see that your home has been well maintained and looked after. This will give them more confidence in bringing forth an offer.  Simple maintenance should include replacing all air filters. Checking smoke and carbon monoxide detectors. Having your heating system professionally serviced and cleaned. Remove window screens and check for drafts around doors and windows. 


4. Start decluttering.


This may be the most important task when preparing your home to sell. It can also be the most overwhelming.  You can reduce a lot of stress by giving yourself ample time to declutter. Start in one space at a time and consider tossing or donating anything that you do not use anymore. It is so important to show your home as spacious as possible. Clear counter space, organized closets and storage spaces are more appealing to potential buyers.


Still not sure where to start... No worries! We have you covered. As part of our services, we offer a free no obligation home selling consultation. Call today and leverage Jim Stanton and Associates proven home selling system and get the best return on your biggest investment.  

Read full post

I have listed a new property at 844 Logan CRT in Oshawa.
Stunning Jefferey Built Home Situated On A Mature, Quiet Court With A Custom Built 4 Seasons Sunroom Off The Kitchen Overlooking Your Private Pie Shaped Lot With Pool. A True Backyard Oasis! This Home Has Amazing Curb Appeal With A Private Double Drive And Beautiful Hard Landscaping, Gardens & I/G Sprinkler System. Large Principal Rooms And 4 Spacious Bedrooms. California Shutters On The Main Level, Hardwood & Ceramic Floor,5th Bed. And A Full 3 Piece Bathroom In The Basement...This Is A Must-See Home! See Attachments For More Information.
Read full post

I have listed a new property at 1850 Cricket LANE in Pickering.
Must See Home Located In The Highly Sought-After Neighbourhood Of Amberlea. This 4 Bedroom Semi-Detached Home With Finished Bsmnt Shows Pride Of Ownership. Featuring: Spacious Main Floor Layout, W/O To Elevated Deck Overlooking Large Fenced Yard, Direct Access To Single Car Garage, 2 Car Parking In Driveway, 4 Large Bedrooms, Reno'd Main Bath, Kitchen W/Deep Upper Cabinets, Soft Close Doors/Drawers, Stnls Stl Appl, Gas Stove + More
Read full post


October Market Stats are in and here is what the headlines are saying....


October home sales down 7%, new listings fell by 34% from last year: Toronto board - Global News


Toronto's housing market shows no signs of cooling down - City News


Another record-setting month n October for Toronto region as average home price surges to $1.2 million - The Star


Toronto home prices soar al,ost 20% as sales near record - Financial Post


Understanding that these stats and headlines are taking a broad look at the overall market, it is important to seek professional guidance when looking at specific areas and neighbourhoods. We have helped many clients navigate this market and acheive their real estate goals. If you have been thinking about making a move and would like a professional to guide you through the process, give us a call.

Read full post

I have listed a new property at 1850 Cricket LANE in Pickering.
Coming Soon! Well cared for beautiful 4 bedroom Semi-detached home is located in the Highly Sought After Amberlea Community! Features Include: updated kitchen -, main bath reno - newer windows /patio door w/ walkout to newer deck, of the great room - 2 pc powder room - direct access to the garage - large fenced back yard - newer driveway and roof finished basement and more....... Don't miss out! Call Jim or Ben for more details at 905-434-2022 or text or call direct at 905-409-9967.
Read full post

I have listed a new property at 844 Logan CRT in Oshawa.
Gorgeous 4+1 bedroom 2 story home, situated on a court with a private backyard oasis with a custom-built 4 season solarium off the kitchen! This home has great curb appeal with a double drive and beautiful hard landscaping, and gardens with an inground sprinkler system! Reach out for more details call or text Jim at 905-409-9967 or Ben at 905-995-3372 Office 905-434-2022 or online. Check out our Coming Soon Video
Read full post

I have listed a new property at 226 Highland AVE in Oshawa.
Attention First Time Buyers, Downsizers & Investors! This Must See 2 Bed/2 Bath Bungalow Is Nestled On A Pristine, Tree Lined Street In Central Oshawa. Offering A Separate Entrance For In-Law Suite/Rental Potential. Large Backyard On A 122.5 Ft Deep Lot. Updated Kitchen With Corian Countertops, Freshly Painted, Main Bath 2019, Hardwood Throughout Main Floor, Hwt 2017 (Owned), Eaves 2020 W/Downspouts & Gutter Guards, Back Deck Trex Composite.
Read full post

I have listed a new property at 226 Highland AVE in Oshawa.
This lovely 2 bedroom 2 bathroom bungalow is perfect for a first time buyer, down-sizer or investor. Nestled on a pristine treelined street in Oshawa with a large 40 x 122.5 lot this home offers a separate entrance making it perfect for an in-law or rental suite to be added to the basement. Updates include Kitchen & main bathroom. You won't want to miss this opportunity, call today for more information and to book a private tour.
Read full post


Are you thinking about retirement? Are your friends relocating?
Should you remodel your home or sell and buy a new home?
 
Looking to downsize into a home that provides easy mobility and is easier to maintain as we age?
Is there Easy access to Healthcare?
 
These are great questions. We believe in the power of information to help our clients make good decisions that work for them.
 
We have helped clients sell their Homes and Relocate to a Community that works for them and offers Lifestyle opportunities that they were looking for, such as boating, golfing, biking trails, recreational facilities, and much more.
Have a few questions about relocating?

Call or text us - 905-409-9967.
 
We are here to answer your questions!
What price will I get for my home in today’s market?
How long will it take to sell my home?
What will it cost to sell my home?
What are homes selling for outside of the GTA and Durham Region?
 
Visit http://athomesandcottages.com to view current listings for homes and cottages for sale
 
 
 
 
Read full post

The housing market has remained hot and with a lack of inventory and new buyers entering the market every day, it's showing no signs of slowing down. It's with that in mind that we wanted to share these 4 keys to success when buying a home in a competitive market.


If you're considering buying a home right now here are 4 things you must do to have success.


1. Get properly Pre-qualified.


You've heard this a thousand times for a reason. Meet with your #mortgagebroker or bank and get properly prequalified so you can buy with confidence. Knowing what you can afford is critical with housing prices rising as they have over the past 2 years. Looking for an option? Try our friend Barry at completemortgages.ca.


2. Don't get caught in the trap of evaluating homes based on List Price.


These days List Price is every bit a marketing tool as social media is. In the Durham Region homes often sell for between 10-30% over the list price. This is why you need a qualified Realtor© to help you properly evaluate homes you're interested in.


This segues nicely to our next point.


3. Set your expectations


Set your expectations by evaluating what homes like the ones you're interested in have already sold for recently. Your Realtor© can help a lot here by providing a reliable list of previous sales and advising you on how to focus your search to get the best results. Sites like HouseSigma also provide sold prices. Just don't confuse their estimates for sold prices.


4. Understand the risks.


We never advise our clients to buy without conditions. Having the ability to add financing or inspections conditions can be invaluable when buying a resale home. At the same time, many if not most homes are selling firm in this market (meaning no conditions in a buyer's offer). This puts more pressure on you as the buyer to go in firm to be more competitive. You need to be comfortable with the risks if you choose to go that route. Speak to your Reator© and your lender before you make the decision to go in firm so you understand the risks involved and you can make an informed decision.


Bonus Tips - Deposits are key


5. Increase your deposit


These days with so many buyers competing for homes a deposit that is 5% of the purchase price is fairly standard and in fact expected by most sellers. One way to stand out with a prospective seller is to increase your deposit beyond that 5%. Your deposit is collateral on the deal so having a larger deposit shows the seller you're committed to closing. That can make all the difference when a seller is evaluating close offers. Keep in mind if you can't close the transaction you could lose your deposit. Like we mentioned in point number 4, understanding the risks is critical.


6. Make your deposit Herewith


When you submit your offer you can include your deposit "Upon Acceptance" (delivered within 24 hours of acceptance) or "Herewith" (presented with your offer). Including your deposit with your offer can make your offer stand out and show the seller you're committed to closing the deal. That said if your offer is not accepted you just went to the effort and cost of getting a bank draft for nothing.


Have a question about buying in the current market? Connect with us by calling 905-434-2022 or email us at bstantonrealtor@gmail.com.


#durhamrealestate #whitbyrealestate #oshawarealestate #ajaxrealestate #pickeringrealestate #bowmanvillerealestate
#whitby #oshawa #bowmanville #ajax #pickering #sellwithstanton #soldwithstant

Read full post

It continues to be a strong seller's market with low inventory and very high demand across Durham Region.

If you are thinking of making a move, send us a msg or give us a call and we can give you more in-depth information on the market condition in your area and discuss your options.
@SELLWITHSTANTON  @JIM Stanton and Associates - Jim Stanton - Real Estate & Mortgage Broker

REAL GOOD REAL ESTATE ADVICE
☎ 905-434-2022 or text 905-409-9967
bstantonrealtor@gmail.com jimstantonrealtor@gmail.com




Read full post

#Justsold
⚡Congratulations to our sellers!

We have a website that is designed strictly for bungalows - bungalowden.com - and through this site and our other marketing strategies, we are able to get 1000's of eyes on our bungalow listings before they even hit the market. As a result, we consistently sell our listings quickly and at exceptional prices!
Sell your home with confidence knowing you have an amazing team on your side!
Connect with us by calling ☎ 905-434-2022 or text 905-409-9967
bstantonrealtor@gmail.com  -  jimstantonrealtor@gmail.com

Read full post