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Volume #7, Issue #47

December 2 - December 8, 2016

l a c o L Your

s g n i t Lis

TE DA T O S P-T LATE U E Y STA H TH T WI s use o h en/op a c ar. gd

page 8 Open Houses & Local Market Stats Stay Connected! to your local REALTORS® Follow our

feed @_GDAR_ and like our

page at “theRealEstateUpdate”

Read the online edition at www.GDAR.ca — Updated weekly!


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December 2 - December 8, 2016

Your Local Listings by REAL ESTATE UPDATE

Guelph & District Association of REALTORS® GUELPH 214 Speedvale Avenue W.

speedvaleoffice@royallepage.ca

848 Gordon Street gordonoffice@royallepage.ca ShowCase of Homes, Stone Road Mall royalcity@royallepage.ca

www.royalcity.com

ROCKWOOD 295 Alma St. Unit 1 rockwoodoffice@royallepage.ca

Publisher The Guelph & District Association of REALTORS®

Production and Creative Design Craig Design • (519) 955-4416 • realestateupdate@gdar.ca

Printed Distribution & Circulation Inquiries J.P. Abbott Distribution Services Ltd. • (519) 821-3206 QUESTIONS or CONCERNS about Distribution: Please call J.P. Abbott Distribution Services Ltd., 519-821-3206 with details.

REAL ESTATE UPDATE is printed & published every Friday and is also available in an online weekly digital edition at www.GDAR.ca. This issue is 8 pages without any inserts and available at convenient pick-up sites.

JUST LISTED! 54 Uplands Place - Sat. & Sun. 1:00-3:00 PM

28 Serena Lane

RAISED BUNGALOW WITH IN-LAW POTENTIAL

9.3 ACRE LOT IN ROLLING HILLS

Tucked away in a quiet neighbourhood in Guelph’s east end. Featuring an updated white kitchen with dark countertops and backsplash, and modern 5 pc. bath with a double vanity. There is a stackable washer/dryer set in the bathroom, handy for an entirely independent unit, if one wanted separation from the basement. In-law suite potential is there, with two hydro meters and separate entry from the garage into the basement. John Clark* & Lorna Ronald*. $409,900

Perhaps the largest and most private estate building lot in the City. 346 feet of frontage. Ideally treed, with open space and pond/wetland area that abounds in nature. You can enjoy solitude yet also enjoy the convenience of restaurants, the Galaxy Cinema, schools and shopping minutes away. The best of both worlds. John Clark* & Lorna Ronald*. $875,000

REAL ESTATE UPDATE is distributed free of charge through “green” outdoor pick up boxes and key distribution partners which include real estate brokerages, retail outlets, restaurants, professional businesses, and community centres throughout Guelph and Wellington County. The publication and all its images remain the property of Guelph & District Association of REALTORS® and its members, and may not be reproduced without written permission of the publisher. The publisher assumes no responsibility for statements or claims made by advertisers. Advertising is exclusive to voting members only of the Guelph & District Association of REALTORS®. The publisher reserves the right to refuse any ad due to content or lack of protocol. Views expressed in any editorial found herein are not necessarily those of the publisher. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license. Guelph & District Association of REALTORS® 400 Woolwich Street, Guelph, ON  N1H 3X1 Phone: (519) 824-7270 Fax: (519) 824-6730

8466 Wellington Road 50

HALF ACRE LOT IN ROCKWOOD Half acre building lot on the edge of the quaint town of Rockwood. Lot dimensions are 90’x247’, centrally located between Guelph and Acton for an easy commute in either direction. John Clark* & Lorna Ronald*. $229,000

Visit www.royalcity.com for more great homes. NO SIGN-UPS.. JUST CLICK AND VIEW!

† Licensed Assistant *Sales Representative **Broker ***Broker of Record

Stick With Your REALTOR

®

Your local REALTOR® can become an expert on your specific needs and tastes. Scattering your time and energy amongst multiple REALTORS® will work against your goal of finding your best home. And because most local REALTORS® have equal access to the same property listings, there’s no real advantage to having multiple REALTORS®. Your best option: choose one local REALTOR® to work with exclusively towards your real estate goals.

www.GuelphAndDistrictREALTORS.ca


December 2 - December 8, 2016

Your Local Listings by REAL ESTATE UPDATE

1499 Gordon St., Guelph • 519-837-1300

Guelph & District Association of REALTORS®

238 Speedvale Ave. W., Guelph • 519-836-6365

782 Tower St. S., Fergus • 519-787-0203

Independently Owned and Operated Brokerage

w w w. r e m a x c e n t r e . c a $164,900

105 BAGOT ST., GUELPH UNIT 407

WHAT’S YOUR HOME WORTH?

FREE Online Home Appraisal FAST! Buy into the real estate market with this spotless 1 bedroom condo apartment in a central location. This spacious floor plan offers comfortable living and a maintenance free lifestyle for mortgage payments of $727 per month or less. Beautifully maintained building with party room, lockers and ample visitor parking. Appliances included. TRACEY MANTON * 519-831-3335 www.traceymanton.com for pics and info.

PRIOR to buying or selling is when important decisions are made.

Talk to experience... talk to Pat. Pat Prior Direct:

www.mantonteam.com

Please visit remaxcentre.ca

519-830-9728

visit ROrehomegroup.ca search ‘ramonaostrander’

Ramona Ostrander*

Perceptive and transparent service my standard; compelling communication & discerning action my tools for deliberate results. 519-837-1300

Guelph Homes .com Guelph’s Definitive Real Estate Website STEVE DAWKINS** 519-827-8434

RE/MAX REAL ESTATE CENTRE INC.

NOW AVAILABLE

EVERY FRIDAY! PICK IT UP AT OVER 230 LOCATIONS WEEKLY!

Independently Owned and Operated Brokerage

REAL ESTATE CENTRE INC. *Sales Representative

**Broker

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December 2 - December 8, 2016

Your Local Listings by REAL ESTATE UPDATE

Guelph & District Association of REALTORS®

Photo: © Stock Photo Secrets

4

THE FRENZY OF THE HOUSING MARKET: let’s discuss what’s really happening With recent changes to mortgage lending imposed by The Department of Finance, many wonder what the market expectations are for the national and local market housing markets. There were several changes announced on October 3 but the most wide-reaching will be the impact on high ratio mortgages (home purchases with less than 20% as a down payment). This restriction doesn’t just apply to first-time homebuyers, but generally anyone in the middle class who will be buying a home that requires default insurance. This impact will mean a 20% drop in purchasing power for these individuals. For example if you were approved for a purchase price of

2016 that there was only one month’s of inventory on the market (a balanced market would have about a three month inventory). Unfortunately home affordability is not congruent with the provinces push towards limiting space and intensification of housing. We can clearly see this as homes in Guelph’s downtown core continue to aggressively appreciate in value. Guelph, K/W and Cambridge will continue to see net migration from places like Toronto and Milton as these migrants will see the area as an inexpensive alternative to the GTA. This local area will continue to see good price appreciation because of these factors.

“NEARLY 25% OF THE POPULATION WHO ARE MOVING UP INTO A NEW HOME MARKET CATEGORY ALSO PURCHASE THEIR NEXT HOME WITH LESS THAN 20% AS A DOWN PAYMENT.” $450,000 with ten percent as a down payment now they’ll be able to buy for $360,000 instead. Most of the conversation around these changes has included only the first time buyer; however I believe that nearly 25% of the population who are moving up into a new home market category also purchase their next home with less than 20% as a down payment. This change was focused on cooling the housing market in overheated areas such as Vancouver and the GTA. Home inventory in the Guelph, K/W Cambridge area will continue to be low, which will drive strong home appreciation. The Guelph and District Association of REALTORS® reported in October

This may be a good option for those who are self-employed and show little taxable income. Over the next five years there will be a massive transfer of wealth from one generation to another as baby boomers pass on their wealth to their children. Many parents are now considering giving their children early inheritances to purchase a home and allow their children to have a 20% down payment on a home. The new mortgage rules do not apply to home purchases with more than 20% as a down payment. Consider renovating your home instead of moving. If you love where you live but just need a little more room or an update to the house, home renovation is a good alternative. You can often tap into the existing equity in your home to update a kitchen or bathroom and perhaps add a room or another level to your home.

WHAT CAN CONSUMERS DO?

OTHER OPPORTUNITIES IN THE MARKETPLACE:

Readjust your expectations for home ownership and plan for the future. Most people strive to purchase a single detached home, but that may not be realistic now. Adjusting your expectations to buy a condo or a town house and then planning to move up in five to seven years is a reality and a good alternative to renting for five years.

Purchases of rental properties or multi-unit residential properties are an opportunity to rent to tenants who have good jobs and credit but need to save more for a down payment. Lending money privately to individuals who don’t qualify for bank mortgages under the new guidelines is a good option for those who have the ability to lend their money. Many individuals who are self-employed and show little taxable income and have a good credit rating are good credit risks and are open to working with private lenders to help them get into a home or purchase rental properties. Mortgage brokers are professionals and can help both lenders and buyers alike.

Get some help from a family member. If you’re still focused to buy in a price category where you feel you want to be, but cannot qualify for under the new guidelines, find a co-signer. A co-signer with good income stability and credit history can put you into a higher home purchase category.

— ARTICLE SUBMITTED BY SANDRA LASTOVIC, SENIOR MORTGAGE AGENT, THE MORTGAGE CENTRE —


Your Local Listings by REAL ESTATE UPDATE

December 2 - December 8, 2016

Guelph & District Association of REALTORS®

HomeLife Power Realty Inc. Brokerage

INDEPENDENTLY OWNED AND OPERATED

1027 GORDON STREET, GUELPH (At Kortright Road)

519-836-1072

www.homelifeguelph.com www.homelifepower.ca Toll Free: 1-888-932-3548 homelife@homelifeguelph.com

SO

! LD

RIVERSIDE PARK CONDO $249,900

Downsizing is easier and life will be less complicated living in this one level, spacious two bedroom, two bathroom home. Just renovated. New flooring in hall, bedrooms, bathrooms, living room and dining area. New kitchen counter, backsplash and lighting. Freshly painted throughout in a complimentary colour. Move in ready. Close to miles of walking trails, shopping, seniors center and restaurants. Covered parking. BRYAN MARQUESS

BRAND-NEW SEMI-DETACHED HOME IN WESTEND $460,000 1450 S.F. with 3 bedrooms and 2.5 baths located in convenient west end behind Costco area. It is built by Fusion Homes still under construction. Closing for Mar 16, 2017. $14,000 upgrades included. LISA CHOU

O S

! LD

55 PLUS BLDG WOW! WE FINALLY HAVE SOME UNITS FOR SALE.

• 2 bedroom 2 bath unit on the 15th floor. Freshly painted and carpeted. Low fees $353.57 which includes heat and water. Asking $294,900 2 units 1 bedroom plus den, 2 baths – see the river and park from your windows. • $284,900 and $297,500 Call for more information. JACKIE HARRISON

11 SHACKLETON $499,900 At over 1800 sqft, this 2 Storey + Loft home with 3+1 bedrooms, 3+1 bathrooms, and fully finished from top to bottom. The open concept main floor design, bright beautiful loft area perfectly set up as the place to hang out with the family, the home theatre, the playroom! The master bedrooms faces the back, has an oversized walk-in closet, a 2 pce ensuite and California shutters. The other 2 bedrooms are spacious. Updated main bathroom has a double paned glass shower, double sinks and skylight. Basement boasts a gym, a Swedish sauna with shower, a spacious laundry room and cold cellar. Fully fenced yard with newer deck, built in hot tub, shed and backs onto greenspace. CHRISTIANNE CHILD and TERRA WHITE

DOWNTOWN BUILDING SITE NORWICH ST EAST $277,900

Invest in yourself for only $35,000. A turnkey established operation is for the offing. The “E-Ride” business will go far in this economic atmosphere of conservation and eco sensitive industry. Everything is included for you to build upon an up and coming clientele. So, if you have small electric motor skills and an entrepreneurial spirit, then please, give me a call. Contact JANE HASTINGS

* suitable for a 3 story building * I have a site plan for review * zoning provides for office/business & residential * 390.2 SQ M site can provide for 3 residential units with required parking. Contact COLIN MACDONALD 519 212-0776

I HAVE

INVESTORS ... that are looking for Residential, Commercial and Investment – Income properties.

LEGAL TORONTO DUPLEX W/BACHELOR APARTMENT

Please call HUGH PELOSO 519-822-6110

Freshly renovated, close to parks & transit hub. Separate meters and more – this will not last. Just 5 minutes north of High Park in up & coming Junction neighbourhood. Call ANDREAS KRAUSE to view and for full particulars 519-835-0120.

MY CLIENTS ARE LOOKING FOR... * Guelph-Eramosa or Puslinch Bungalow w Finished basement * Commercial lot w Buildings in York/Elizabeth & Victoria * High-End bungalow in Waterloo-Wellington w municipal services

HOBBY FARM FOR UNDER $500,000!! 5 year old bungalow on 3.77 acres, small barn, nestled between 401 & 403. 30 minutes to Cambridge. DON MCLAUGLIN

Call Direct: WILL LENSSEN 519-830-4799

NEW LISTING!

$310,000 … A DETACHED BUNGALOW BETWEEN GUELPH AND THE 401

DON’T MISS... This gorgeous 3+2 bedroom stone clad raised bungalow with walk up on just shy of 2/3 acre which is located in the north end of Fergus. You will enjoy the custom built gourmet kitchen with granite counter tops, ceramic tile and tons of cupboard space. Just off the kitchen, sliders to generous sized deck overlooking the backyard and 16 foot gazebo. Please call DEBBIE ASKIN or COLIN MACDONALD

A recent NEW condominium corporation located near Abrefoyle. 2 bedrooms (master with ensuite bathroom) separate laundry room, Kitchen, with separate Dining room that leads to a 3 season sunroom, and a Living room with gas fireplace … there’s more … call now. COLIN MACDONALD, 519-212-0776

Maria Annable

Sales Representative

Will Lenssen

Sales Representative

Debbie Askin

Haosen Cai

Christianne Child

Sales Representative

Sales Representative

Sales Representative

Carl A. Leybourne

Colin MacDonald

Bryan Marquess

Sales Representative

Broker

Broker

Parmpreet Chohan

Sales Representative

Mani Mattu

Sales Representative

Lisa Chou Broker

Don McLauglin

Sales Representative

Baz Durzi

Sales Representative

Sean Myslik

Sales Representative

Nitsa Eliopoulos

Sales Representative

Hugh Peloso

Sales Representative

Natasha Gosse

Sales Representative

Sarah Rubenstein

Sales Representative

Jackie Harrison Broker

Gasper Russo

Broker of Record

Jane E. Hastings

Sales Representative

Glenn Stanley

Sales Representative

Susan Kenny

Sales Representative

Nancy Vallance

Sales Representative

Andreas Krause Broker

Terra White

Sales Representative

Harold Lee Broker

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December 2 - December 8, 2016

Your Local Listings by REAL ESTATE UPDATE

Guelph & District Association of REALTORS®

UPDATED OPEN HOUSES

Visit gdar.ca/open-houses for “Up-to-the-Second” Open House listings from local REALTORS®

TH I W S! E AT ING s D O LIST use T o P T h U S Y ATE pen A ST E L a/o TH ar.c gd


December 2 - December 8, 2016

Your Local Listings by REAL ESTATE UPDATE

to make on our own seemed Selling our house we nse at first. What perfect financial se trating alize was how frus quickly came to re emed to uld be. Our lives se and challenging it co ings. We houses and show revolve around open t we just as a great value, bu knew our house w posure s experience and ex didn’t have the sale ovide. estate agent can pr that the right real onal for rned to a professi e That’s when we tu te knowledge of th ra cu ac e, nc de nfi help. His co ent from sionalism were evid market, and profes work, so is team did all the beginning to end. H e best r lives again. And th we could enjoy ou only just 7 days! Our in ld so e us ho part? Our ks him sooner! Than e se ’t dn di e w at regret is th ! for a job well done Guelph — B. & M. McNey,

Gold Chris Bisson & Sandra Lastovic

Ask us about our cooperating REALTOR® offer!

125 Norfolk St, Guelph

500 Hanlon Creek Blvd., Guelph

Bisson.C@TheMortgageCentre.ca Lastovic.S@TheMortgageCentre.ca

MPetitpas@FusionHomes.com Sales@FusionHomes.com

www.SkipTheBank.ca

www.FusionHomes.com

(519) 763-3900

1-877-862-8850

Silver

519-846-4663

www.HometownRealty.ca

Call your local ® REALTOR

Marc Petitpas, VP of Sales

Complementary Real Estate Services Inc.

Your Hometown Realty

Protect your investment Work with a professional

Guelph & District Association of REALTORS®

Scotiabank

Canadian Home Inspection Services

Meridian Credit Union

Re/Max Real Estate Centre

www.Scotiabank.com

www.CanadianHomeInspection.com

www.MeridianCU.ca

www.ReMaxCentre.ca

1-800-4-SCOTIA

226-820-1744

519-837-2233

Smith Valeriote Law Firm LLP

DLC Home Capital Solutions Inc. (FSC010844)

MortgageGuys.com

www.SmithValeriote.com

www.HomeCapitalSolutions.ca

MortgageGuys.com

519-837-2100

1-877-662-0225

519-836-6365

RBC Royal Bank

519-341-6900

1-866-871-9868

Mortgage.RBC.com

Trillium West Real Estate

Planet Realty Inc.

At Home Group Realty Inc.

HomeLife Power Realty Inc.

Coldwell Banker Neumann

www.trilliumwest.com

www.PlanetRealty.ca

www.HomeGroupRealty.ca

www.HomeLifePower.ca

www.CBN.on.ca

226-314-1600

519-837-0900

226-780-0202

519-836-1072

519-821-3600

Bronze AmeriSpec

Pillar To Post

Home Inspection Services

Professional Home Inspections

BrokerLink

Richard R. Morrow Law Office

Building Insights Inc. Centre Staged Inc. Champion Mortgage Inc.

RLB LLP

Chartered Accountants & Business Advisors

StayBridge Suites

Guelph’s Only Extended Stay Hotel!

Cheryl Stelzer Barrister & Solicitor

TD Canada Trust

Home Improvement Professionals

Teranet/Geowarehouse/Vimo

Lobban Stroud Ltd.

The Real Estate Book

Mortgage Architects

Guelph & Wellington County

Nelson Watson LLP

Visual Advantage

Paquette, Travers & Deutschmann

Welcome Home Inspection Services

Peter A. McSherry Law Office

Winmar Guelph

Thank You To Our 2016 Sponsors Sponsors!!

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Your Local Listings by REAL ESTATE UPDATE

December 2 - December 8, 2016

Sold by a REALTOR® MLS® Market Analysis

CITY OF GUELPH

CENTRE WELLINGTON TOWNSHIP

TOWNSHIPS OF PUSLINCH AND GUELPH-ERAMOSA

Number of Homes

Number of Homes

Number of Homes

Includes detached, semi-detached, townhouses, & apartment units

Includes detached, semi-detached, townhouses, & apartment units

Includes detached, semi-detached, townhouses, & apartment units

Sold Year-to-Date

Sold Year-to-Date

Sold Year-to-Date

2016

2180

2016

420

2016

2015

2139

2015

414

2015

2016 Trending: Up 2% from 2015

2016 Trending: Up 1% from 2015

227 212

2016 Trending: Up 7% from 2015

Average Sales Price Average Sales Price Average Sales Price Year-to-Date

Year-to-Date

Year-to-Date

Includes detached, semi-detached, townhouses, & apartment units

Includes detached, semi-detached, townhouses, & apartment units

Includes detached, semi-detached, townhouses, & apartment units

2016

$413,134

2015

$369,140

2016 Trending: Up 12% from 2015

Home Selling

2016

$400,611

2015

$361,863

2016 Trending: Up 11% from 2015

Home Selling

2016

$710,036

2015 $544,428 2016 Trending: Up 30% from 2015

Indicators (previous month)

Indicators (previous month)

Includes detached, semi-detached, townhouses, & apartment units

Includes detached, semi-detached, townhouses, & apartment units

Includes detached, semi-detached, townhouses, & apartment units

1

# Days on Market

18

2016 Trending: Seller’s Market

Months of Inventory

1

# Days on Market

34

2016 Trending: Seller’s Market

e s u o H n e p O e r o ! e n M i l n O s g n i t s i L You’ll find even more Open Houses at gdar.ca/open-houses

Open House!

Saturday, Dec. 3rd 2016

PRICE

TIME

ADDRESS

REPRESENTATIVE

BROKERAGE

$409,900

1:00-3:00 PM

54 Uplands Place, Guelph

Collette Aeschlimann 

Royal LePage Royal City Realty

Home Selling

Indicators (previous month) Months of Inventory

Guelph & District Association of REALTORS®

Months of Inventory

3

Open House!

# Days on Market

47

Sunday, Dec. 4th 2016

PRICE

TIME

ADDRESS

REPRESENTATIVE

BROKERAGE

$409,900

1:00-3:00 PM

54 Uplands Place, Guelph

Collette Aeschlimann  Royal LePage Royal City Realty

2016 Trending: Seller’s Market

Updated Oct. 31, 2016. Sales information has been drawn from sources deemed reliable, but accuracy and completeness of the information is not guaranteed. The Guelph & District Association of REALTORS® does not assume any responsibility or liability, and all numbers should be independently verified.

THINKING OF THINKING OF BUYING A HOME? BUYING A HOME?

When you’re buying a home you need pertinent facts about the house, the neighbourhood and the community. example, When you’re buying a home you need pertinentFor facts about the is the asking price too high?and Was house everFor a grow-op? house, the neighbourhood thethe community. example, Is well water andWas safethe for house drinking? Can you build is the asking pricepotable too high? ever a grow-op? a Are youand allowed out the basement? Issecond the wellstorey? water potable safe to forrent drinking? Can you build a second storey? Are you allowed to rent out the basement? There are countless questions when it comes to buying a house, knows how to fiitnd the answers. They do the and your There areREALTOR countless®questions when comes to buying a house, ® homework so that you can make decision—and get knows how an to fiinformed nd the answers. They do the and your REALTOR the best possible homework so thatoutcome. you can make an informed decision—and get the best possible outcome.

REALTORS is a trademark controlled by the Canadian Real Estate Association. Used under license. WE DO THE HOMEWORK is a trademark of the Ontario Real Estate Association. REALTORS is a trademark controlled by the Canadian Real Estate Association. Used under license. WE DO THE HOMEWORK is a trademark of the Ontario Real Estate Association.

PREPARED BY: CLIENT: TRIM SIZE:

RYAN EDWARDS OREA GUELPH ASSOCIATION 10.375"W X 5.85"H

PREPARED BY: CLIENT: TRIM SIZE:

RYAN EDWARDS OREA GUELPH ASSOCIATION 10.375"W X 5.85"H

COLOURS:

COLOURS:

CMYK

CMYK

THINKING OF


Real Estate Update - Dec 2 - 2016