Nancy Shea - Morrison - 11x17 - NL - DEC17

www.LiveInMorrison.com

Aboutowne Realty Corp., Brokerage

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1235 North Service Road West Suite 100 Oakville, ON L6M 2W2 Each Office Independently Owned and Operated.

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416-520-4785 Nancy@NancyShea.ca www.NancyShea.ca www.LiveInMorrison.com

MORRISON DECEMBER 2017 REAL ESTATE MARKET REPORT

Published by REAL Marketing (REM) | www.REALMarketing4You.com | 604.880.5816 | Š2017

Majestic Home in Muskoka-like Setting

263 Dalewood Drive | Offered at $3,298,000 4+1 Beds, 3.1 Baths | 3,605 Approx. Square Feet | 0.3 Acres

This custom, updated home is located on one of the most desirable streets in SE Oakville. Large principle rooms make entertaining a pleasure. A separate dining and living room are great for more formal entertaining, while the massive kitchen with breakfast bar offers a great spot to gather for more casual entertaining. The open concept floor plan makes for great flow with the kitchen open to the breakfast area and family room. The light filled family room has a wall of windows

PREPARED ESPECIALLY FOR

JOHNATHAN AND ANGELA-MARIE WILLIAMS

inviting the outside in, as well as a walk out to the lovely private backyard with inground pool. If towering trees and privacy appeal to you, this is the perfect home for your family. The basement level offers a light-filled office and a large rec room/TV area with a walk up to the backyard. A gym, storage area, and utility room complete the level. Walking distance to EJ James, St. Vincent, Maple Grove Public School, and Oakville Trafalgar High School.

Johnathan and Angela-Marie, My marketing is representative of the time, effort, and money you have spent in obtaining and maintaining your home. If you are looking to sell, let me help you achieve exceptional results. Call me today at 416-520-4785.

TEAM Presented by Carol Raymond, Your Seasons Glen Real Estate Specialist

MORRISON

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REAL ESTATE MARKET REPORT

416-520-4785 Nancy@NancyShea.ca www.NancyShea.ca www.LiveInMorrison.com

Morrison Homes Currently Listed

For more information on these listings, please call me at 416-520-4785.

37 Homes | 2.1 - 8.3 Bedrooms | 1.1 - 7.2 Washrooms | 1,057 - 15,036 Approx. SqFt. | $1,199,000 - $16,988,000

Morrison Homes Sold in the Past 60 Days

The Real Effect of the New Mortgage Stress Test On January 1st, 2018, the revised Guideline B-20 – Residential Mortgage Underwriting Practices and Procedures will go into effect. These new guidelines created by the Office of the Superintendent of Financial Institutions, or OSFI, strengthen the federal regulations for residential mortgage underwriting.

What does this mean?

Everyone will be subject to a ‘stress test’ if they wish to have an uninsured residential mortgage loan.

Who typically has an uninsured mortgage loan?

Anyone who is putting down more than 20% on the purchase value of their home will generally get an uninsured loan. Anyone who puts down less than 20% is required by law to purchase insurance from Canada Mortgage and Housing Corporation (CMHC) in order to secure a mortgage from a lender.

What is the goal of this new Rule?

It’s to ensure borrowers can afford their loans even if interest rates are two percentage points higher than the contractual mortgage rate being offered.

What is the Impact on Buyers?

What is the Impact on Sellers?

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This could reduce the amount of an uninsured mortgage loan that a borrower could qualify to receive.

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In general, there is still a greater demand than supply for real estate in Morrison.

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Mortgage rates are varied, offering different types (i.e. variable and fixed), timelines (1 - 5 years), and rates (currently 3.04 - 4.99% fixed).

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Sellers should realize the importance of pricing their home to stay in-line with market forces.

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The effect on overall prices for the average home in Morrison may not be anything more than a slow down in the rate of appreciation.

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The probable result will be a shift in the type of mortgage chosen by home buyers, in order to qualify for their desired amount.

Johnathan and Angela-Marie, Call me today at 416-520-4785 to learn more about these changes and how I can help you still achieve exceptional results if you’ve considered selling your home.

Information Sourced From: OSFI: http://www.osfi-bsif.gc.ca/Eng/osfi-bsif/med/Pages/B20_dft_nr.aspx and CMHC: https://www.cmhc-schl.gc.ca/en/hoficlincl/moloin/rean/rean_061.cfm

Status Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold

Approx. Age 31-50 Years New 31-50 Years 51-99 Years 16-30 Years N/A 16-30 Years 51-99 31-50 Years 0-5 Years 0-5 Years 6-15 Years 0-5 Years 31-50 Years 31-50 Years New 16-30 Years 51-99 Years 51-99 Years 51-99 Years 6-15 Years

Style 2 Storey 2 Storey Sidesplit Bungalow Bungalow 2-Storey 1 1/2 Storey Bungalow 2 Storey 2 Storey 2 Storey Bungalow 2 Storey 2 Storey Bungalow 2 Storey 2 Storey Bungalow Bungalow Bungalow 2 Storey

Bedrooms 5.0 5.0 4.0 3.1 3.0 4.1 4.1 3.1 4.0 6.0 5.1 3.1 5.0 4.1 2.2 4.1 6.1 1.0 3.1 2.1 4.1

Washrooms 4.1 6.1 2.1 0.2 2.1 5.0 3.0 2.0 3.1 4.1 6.2 3.0 4.1 4.1 4.1 6.2 0.0 1.0 2.0 2.0 4.1

Approx. Square Footage 3,944 4,852 1,200 1,966 1,750 3,500-5,000 2,811 1,100-1,500 2,688 4,365 6,565 2,037 3,260 2,687 2,574 5,245 7,855 1,000 1,003 971 4,087

Sold Price $2,288,000 $5,600,000 $2,600,000 $1,460,000 $2,000,000 $2,490,000 $2,675,000 $2,150,000 $2,630,000 $3,450,000 $5,200,000 $2,250,000 $2,300,000 $2,288,000 $2,750,000 $4,280,000 $9,000,000 $2,200,000 $1,200,000 $1,139,750 $3,150,000

Sold Date 11/22/17 11/17/17 11/14/17 11/13/17 11/12/17 11/09/17 11/09/17 11/01/17 10/31/17 10/31/17 10/31/17 10/20/17 10/20/17 10/16/17 10/10/17 10/10/17 10/06/17 10/03/17 10/02/17 09/29/17 09/28/17

DOM 78 35 7 53 12 7 11 9 8 41 144 102 7 5 8 21 107 77 88 24 35

Nancy Shea, RE/MAX Aboutowne Realty, and The RE/MAX Collection are not in any way affiliated with any Morrison Owners Associations, nor is this in any way an official advertisement or publication of Morrison. © 2017 The RE/MAX Collection. All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to the Association of Realtors® (AOR), the Toronto and Oakville Real Estate Boards, their MLS systems, as well as property builders by location from September 28th, 2017 through November 27th, 2017. Listings and sales may not be those of RE/MAX Aboutowne. Neither TREB, OMDREB, nor its MLS systems guarantee the accuracy of this data, which may not reflect all of the real estate activity in the area. E&OE. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. Due to TREB regulations, full disclosure of all listing and sold data is only available upon request.

Happy ys a d i l o H

Johnathan and Angela-Marie, May the holidays bring you peace and happiness that last throughout the new year! All the best to you and your family!

— Nancy

As your Morrison real estate specialist, I take pride in representing our community and protecting its home values. I look forward to another year as your trusted local resource for any of your real estate needs! This market report was created especially for Morrison residents. For an in-depth analysis on your property, call me today at 416-520-4785.