46 Ravine Drive - Comparable Market Analysis

46 Ravine Drive

Comparable Market Analysis Dundas

Dear John & Kimberly,

In response to your request for an evaluation, as a practicing real estate salesperson I am establishing Market Value for Listing purposes

Value is established, for the property at 46 Ravine Drive as of this dated letter.

Date: October 18, 2022 Market Value: $999,000 (range +/- 3%)

There are limiting conditions and assumptions connected with this evaluation done by the herein sales representative:

It is assumed any MLS® data used is reliable and correct

The client will not circulate or expose information provided herein without prior approval of the writer

Any update expected must be requested in writing

If the herein sales representative is required in a court of law, in relation to this evaluation, the court cost will be $350 per hour.

Please find enclosed some general information about the process of selling real estate. If you have any other questions about preparing your home to ensure that you get the top price the market will bring in, please feel free to contact me. I look forward to helping you with all of your real estate needs, and ensuring that you get the best price and terms on the sale of you r property!

Sincerely,

Mike Heddle, Hon. B. Comm. Broker

The Heddle Group | Team Leader Royal LePage State Realty, Brokerage P. (905) 574 7441 F. (905) 662 2227 www.LiveInHamilton.ca

Summary of Comparable Listings

This page summarizes the

Active Listings

in

market

Address Price

46 RAVINE Drive

SqFt

List Date

$/SqFt 1196827.68 $599,900 3 10/13/2022

Park Street W $640.929361 $899,900 3 10/05/2022

The Haven Street $810.721,1102 $1,100,000 4 07/25/202238 Helen Street $907.591,2121

Averages: $866,600 1,086 $786.411.43.3

Sold Listings

Address Price

SqFt

Sale Date

46 RAVINE Drive $/SqFt 1196827.68 $730,000 3 09/17/2022

SKYLINE Drive $657.661,1102 $740,000 3 08/02/2022

Pleasant Avenue $722.661,0241 $800,000 3 06/30/2022

MOONGLOW Place $637.451,2550 $840,000 3 10/11/202225 NEWCOMBE Road $585.371,4352 $873,000 5 10/14/20224 Kings Gate $761.781,1462 $950,000 5 09/26/2022

PLEASANT Avenue $758.791,2522 $980,000 3 04/30/2022

Watsons Lane $915.891,0702 $1,007,000 5 06/30/2022

GREENING Court $567.641,7743 $1,290,000 4 06/03/202229 MARTINGROVE Drive $1,085.861,1882

Averages: $912,222 1,250 $743.682.03.8

MedianLow Average High Count $599,900

$886,450 $900,817 $1,290,000

$789,900 $870,375 $942,275 $1,317,000

Royal LePage State Realty

Researched and prepared by Michael Heddle

CMA

Dundas (41)

Adjust

Dundas (41)

Valley (414)

Adjust

Royal LePage State

by Michael Heddle

CMA

Adjust

Helen Street

Hamilton

Dundas (41)

Coote's

(411)

Freehold Sale

Hamilton Dundas (41) Coote's Paradise (411)

- Partially

-

12,500

(see Remarks)

AdjustDetails 33 SKYLINE Drive H4143043

Residential Freehold Sale Sold Hamilton Dundas (41) Pleasant Valley (414) 3 50,000 2.0

Full - Partially Finished 08/02/2022 $799,000 09/17/2022 $730,000

spaces / Attached 1,110

- / 31-50 Years $5,196 / 2022

25,000Partially Finished

Forced Air Bungalow/Ranch - Raised 25,000Partially Finished 55.02 215.67

$730,000

$826,500

Royal LePage State Realty

Researched and prepared by Michael Heddle

CMA

Finished

- Raised

Adjust

MOONGLOW Place H4139632

Residential Freehold Sale

Hamilton Dundas (41) Pleasant Valley (414)

Adjust

50,000

Full - Fully Finished 06/27/2022 $749,900 06/30/2022 $800,000

spaces

- / 51-99 Years $4,551 /

Forced Air Bungalow Fully Finished 50.23

Royal LePage State Realty

Researched and prepared by Michael Heddle

CMA

Dundas (41)

Valley (414)

Adjust

Royal LePage State Realty

by Michael Heddle

CMA

PLEASANT Avenue

Type

Type Freehold

Type

Hamilton

Dundas (41)

Coote's Paradise (411)

Residential Freehold Sale

Hamilton Dundas (41) Pleasant Valley (414)

Adjust

AdjustDetails 6 Watsons Lane H4133229

-12,500

Full -

Finished 09/22/2022 $934,900

Dundas Residential Freehold Sale Sold Hamilton Dundas (41) Coote's Paradise (411) 3 50,000 2.0 8 Full - Fully Finished 04/27/2022 $879,900 04/30/2022 $980,000 4 1 spaces / Built-In 1,070 31,500/0 50 - / 31-50 Years $4,591 / 2021

$950,000

Fully Finished 50.00 110.00 $-26,500 $923,500

Gas Forced Air Bungalow/Ranch - Raised Fully Finished 50.00 125.06 $81,500 $1,061,500

$980,000

Royal LePage State Realty

Researched and prepared by Michael Heddle

CMA

Adjust

GREENING Court

Type

Type

Hamilton

Dundas (41)

Coote's Paradise (411)

Residential Freehold Sale

Hamilton Dundas (41) Coote's Paradise (411)

-25,000

AdjustDetails 29 MARTINGROVE Drive H4133445

Full -

Finished

- Raised Fully Finished 47.00 135.50 $-169,500 $837,500

$1,007,000

Dundas Residential Freehold Sale Sold Hamilton Dundas (41) Coote's Paradise (411) 4 25,000 2.0 9 Full - Fully Finished 04/29/2022 $1,349,000 06/03/2022 $1,290,000 11 1 spaces / Attached 1,188 2,000/0 65 1972 / 31-50 Years $5,055 / 2021 Gas Forced Air Bungalow/Ranch - Raised Fully Finished 65.00 372.25 $27,000 $1,317,000

$1,290,000

Royal LePage State Realty

Researched and prepared by Michael Heddle

Minimums and Maximums

This page summarizes key fields of

The listings in this analysis can be summarized as follows:

Listing Price between $599,900 and $1,349,000

Sale Price between $730,000 and $1,290,000

936 to 1,774 Square Feet

$506.76 to $1,135.52 per Square Foot

$567.64 to $1,085.86 per Sold Square Foot

Royal LePage State Realty

Researched and prepared by Michael Heddle

Number of Days On Market

This chart illustrates the level of excitement and interest in a new listing over time. It also demonstrates the importance of pricing correctly. When a property is first listed, it generates a very high level of interest from prospective buyers, which reduces dramatically over time. It is important to be priced correctly from the beginning, during the peak of this curve.

Days On Market

Royal LePage State Realty

by Michael Heddle

CMA Map Layout

RAVINE Drive, Dundas

Park Street W, Dundas

The Haven Street, Dundas

Helen Street, Dundas

NEWCOMBE Road, Dundas

PLEASANT Avenue, Dundas

Kings Gate, Dundas

SKYLINE Drive, Dundas

MOONGLOW Place, Dundas

GREENING Court, Dundas

Pleasant Avenue, Dundas

MARTINGROVE Drive, Dundas

Watsons Lane, Dundas

Royal LePage State Realty

Researched and prepared by Michael Heddle

List Price and Sale Price

Royal LePage State Realty

by Michael Heddle

Brief Summary of Compared Listings

This report summarizes the comparable listings contained in this market analysis

Status: Active

Bds BthList Date

Address L Price

SqFt

Freehold269 Park Street W $599,900H4148585 10/13/2022 1.0936

Freehold12 The Haven Street $899,900H4148087 10/05/2022 2.01,110

Freehold38 Helen Street $1,100,000H4132902 07/25/2022 1.11,212

Averages: 3.3 1.4

1,086 $866,600

Status: Sold Bds BthSale Date

Price SP/LP

MLS® # DOMProp Sub Type

Price SP/LP

Address L PriceSqFtMLS® # DOMProp Sub Type

5 MOONGLOW Place $749,900H4139632 06/30/2022 0.01,255 3$800,000 106.7

Freehold

Freehold7 Pleasant Avenue $789,900H4134835 08/02/2022 1.11,024 82$740,000 93.7

Freehold33 SKYLINE Drive $799,000H4143043 09/17/2022 2.01,110 46$730,000 91.4

Freehold25 NEWCOMBE Road $849,900H4148183 10/11/2022 2.01,435 5$840,000 98.8 3Freehold6 Watsons Lane $879,900H4133229 04/30/2022 2.01,070 3$980,000 111.4

Freehold7 GREENING Court $899,000H4139304 06/30/2022 3.01,774 9$1,007,000 112.0 5

Freehold4 Kings Gate $899,900H4146753 10/14/2022 2.01,146 23$873,000 97.0 5

Freehold66 PLEASANT Avenue $934,900H4146953 09/26/2022 2.11,252 4$950,000 101.6 4

Freehold29 MARTINGROVE Drive $1,349,000H4133445 06/03/2022 2.01,188 35$1,290,000 95.6 1,250 $905,711 23

Averages: 3.8 2.0 $912,222 100.9

Royal LePage State Realty

and prepared by Michael Heddle

Pricing Recommendation

General Facts About Pricing

There are certain factors that are within our control and some factors beyond our control when it comes to setting the price. Those factors within our control are: the appearance of the property, how aggressively we market the property and the price Factors outside our control are: location of property, size and local amenities. It's important to accept those factors that are beyond our control and focus on the pricing and preparation

A property priced at market value will attract more buyers than a home priced above market value. Consider that a competitively priced property will also attract a greater number of potential buyers and increase your opportunity for a quick sale

Market Statistics...

Sell Price Statistics

Summary...

Sell Price Per Sq. Ft. Statistics

$931,900

$1,317,000 $855,300 $1,109

Average Price/Sq Ft: High Price/Sq Ft: Median Price/Sq Ft: Low Price/Sq Ft:$826,500

Average Price: High Price: Median Price: Low Price: Figures are based on selling price after adjustments, and rounded to the nearest $100

After analyzing your property, comparable properties on the market now, recent sales and comparable properties that failed to sell, I conclude that in the current market, your property is most likely to sell for .

Royal LePage State Realty

Researched and prepared by Michael Heddle

Copyright RAHB 2022.

Market Analysis Explanation

This is an explanation and overview of this market analysis.

This Comparative Market Analysis will help to determine the correct selling price of your home. Ultimately, the correct selling price is the highest possible price the market will bear.

This market analysis is divided into three categories:

1. Comparable homes that are currently for sale

2. Comparable homes that were recently sold

3. Comparable homes that failed to sell

Looking at similar homes that are currently offered for sale , we can assess the alternatives that a serious buyer has from which to choose. We can also be sure that we are not under pricing your home.

Looking at similar homes that were sold in the past few months, we can see a clear picture of how the market has valued homes that are comparable to yours. Banks and other lending institutions also analyze these sales to determine how much they can lend to qualified buyers.

Looking at similar homes that failed to sell, we can avoid pricing at a level that would not attract buyers.

This Comparative Market Analysis has been carefully prepared for you , analyzing homes similar to yours. The aim of this market analysis is to achieve the maximum selling price for your home, while being able to sell your home within a relatively short period of time.

This is a comparative

Royal LePage State Realty

Researched and prepared by Michael Heddle

APPENDIX A: MPAC Assessment vs. Market Sale Price

APPENDIX A - MPAC Assessment vs. Market Sale Price

Status Address

MPAC Sale Price % Difference

Subject 46 Ravine Dr 474,000$

Active 269 Park St. W 326,000$ $

Active 12 The Haven St. 405,000$ $

Active 38 Helen St. 416,000$ $

Sold 33 Skyline Dr. 459,000$ 730,000.00$ 59.04%

Sold 7 Pleasant Ave* 403,000$ 740,000.00$ 83.62%

Sold 5 Moonglow Pl. 402,000$ 800,000.00$ 99.00%

Sold 25 Newcombe Rd. 462,000$ 840,000.00$ 81.82%

Sold 66 Pleasant Ave. ** 428,000$ 950,000.00$ 121.96%

Sold 6 Watsons Lane *** 415,000$ 980,000.00$ 136.14%

Sold 7 Greening Crt. 493,000$ 1,007,000.00$ 104.26%

Sold 29 Martingrove Dr. 457,000$ 1,290,000.00$ 182.28% 108.52%

Average $ 988,367 Range $ 861,818 to 1,119,325$

NOTE: * denotes properties included in the "Direct Comparison Approach".

However, this method of deriving value is only presented as an alternative analytical tool to provide the Seller with additional "actual" statistical information regarding the subject property. Furthermore, it is noted that this method of deriving value is not as accurate as traditional valuation methods such as the "Direct Comparison Approach to Value" and the "Cost Approach to Value". The information contained herein is provided for analytical purposes only and Royal LePage State Realty, Brokerage makes NO representations and/or warranties regarding the accuracy of this information and the relationship between this information and true market value.

APPENDIX B: Cost Approach to Value

Land Value: 50.00 Front Ft @ 8500 425,000.00$

Actual Age: 39 years

Effective Age: 15 years

Improvements:

* estimate square footage

APPENDIX B - COST APPROACH TO VALUE 32,730.00$ 12,500.00$

5,752.00$ $

Cost New Depreciation @ 10% Current Value Building 1091 Sq. ft. @ $300 327,300.00$ 294,570.00$ Basement 719 *Sq. ft. @ $80 57,520.00$ 51,768.00$ Garage 0 Sq. ft. $ $ Landscaping @ 125,000.00$ 112,500.00$

Total Current Value of All Improvements 458,838.00$ 458,838.00$

Indicated Value by the Cost Approach 883,838.00$ Value Rounded to 885,000.00$

The cost approach value has a minimal value in terms of deriving market value since the Land Value is a difficult value to derive based on comparable available market values in the area. Thus, this method of deriving value is only presented for the purpose of an alternative analytical tool used inorder to provide "actual" statistical information regarding the subject property. Furthermore, it is noted that this method of deriving value is not an accuarate representation of "market" value and the "Direct Comparison Approach to Value" illustrates a more accurate representation of value. The information contained herein is provided for analytical purposes only and Royal LePage State Realty, Brokerage makes NO representations and/or warranties regarding the accuracy of this information and the relationship between this information and true market value.

APPENDIX C: Market Adjustment

APPENDIX C - Sale Price vs. Market Change

Jan-17 Sep-22

% Change

Average Sale Value 599,913.00$ 985,556.00$ 64.28%

Median Sale Value 569,700.00$ 950,000.00$ 66.75%

YTD 2016 YTD 2022 % Change

Average Price 541,988.00$ 1,069,498.00$ 97.33%

Median Price 512,417.00$ 966,345.00$ 88.59%

Subject Property Sale Price

46 Ravine Dr 615,000.00$ Adjusted Value (vs. Average) 1,010,341.40$

Adjusted Value (vs. Median) 1,025,539.76$

Adjusted Value (vs. Average) 1,213,571.65$

Adjusted Value (vs. Median) 1,159,801.83$

Based on an analysis of the average sale price in the acqusition year versus the market change, the estimated "market" value of the subject property is:

Estimate of Value: $ 1,102,314 Value Add: $Return: 100%

Estimate of Value: $ 1,102,314

Estimate of value (Range): $ 1,010,341.40 to $ 1,213,572

However, this method of deriving value is only presented as an alternative analytical tool to provide the Seller with additional "actual" statistical information regarding the subject property. Furthermore, it is noted that this method of deriving value is typically not as accurate as traditional valuation methods such as the "Direct Comparison Approach to Value" and the "Cost Approach to Value". Thus, the relative significance of this method of deriving value is extremely low. The information contained herein is provided for analytical purposes only and Royal LePage State Realty, Brokerage makes NO representations and/or warranties regarding the accuracy of this information and the relationship between this information and true market value.

APPENDIX D: MPAC Geowarehouse Enhanced AVM Report

APPENDIX E: Geowarehouse Report

Copyright © 2002-2022 Teranet Inc. and its suppliers. All rights reserved.

This report was prepared by: SALES REPRESENTATIVE mikeheddle@royallepage.ca

MICHAEL HEDDLE ROYAL LEPAGE STATE REALTY Office: (905)574-7441

www.mikeheddle.ca Fax: (905)662-2227

Property Details

Enhanced Site & Structure

Assessment Roll Legal Description: PLAN M250 LOT 2

Property Address: 46 RAVINE DR DUNDAS ON L9H6K7

Zoning: R2

Property Type: RESIDENTIAL Site Area: 0.12A

Site Variance: Regular

Driveway Type: Separate or Private Driveway

Garage Type: BASEMENT GARAGE

Garage Spaces: 0

Water Service Type: Municipal

Sanitation Type: Municipal

Pool: Indoor :N, Outdoor :N Locker: 0

Sales History

Sale Date Sale Amount Type Notes

Mar 23, 2017 $615,000 Transfer

Jun 25, 2010 $360,000 Transfer

Jun 23, 2006 $325,000 Transfer

Aug 20, 1984 $1 Transfer

MICHAEL HEDDLE (78672)

Demographics

Dominant Market Group

Dominant Market Group

Sales Statistics

Maximum: $7,605,000

$600,000

$1,633,497

Median: $1,246,000

Area Heat Maps

Average Sales Heat Maps - Last 1 Year

The Average Sales Heat Map shows the

surrounding

compared

Growth Rate Heat Maps - Last 5 Years

The Growth Rate Heat Map shows the growth of the average sale price of properties within the subject property's block compared to surrounding blocks.

Market Turnover Heat Maps - Last 1 Year

The Market Turnover Heat Map shows the percentage of properties that have sold in the past year within the subject property's block compared to surrounding blocks.

by MICHAEL HEDDLE (78672)

Historical Market Trends

Average Sale Values and Growth Rates

Market Turnover Rates

Market Statistics

Area Map

Average Sales Price - Last 1 Year

$0 $1,059,543

Block Municipality

Growth Rate - Last 5 Years

Market Turnover - Last 1 Year

5 Year Analysis

Up and Coming - This area has proven more affordable than many areas of the municipality, and has seen property prices grow 21.4% higher than the average municipal growth. Worth investigating for investment potential.

Terms and Conditions

Reports Not the Official Record. Reports, other than the Parcel Register, obtained through Geowarehouse are not the official government record and will not necessarily reflect the current status of interests in land.

Data contained in the Geowarehouse reports are notCurrency of Information. maintained real-time. Data contained in reports, other than the Parcel Register, may be out of date ten business days or more from data contained in POLARIS.

Data, information and other products and services accessed through the LandCoverage. Registry Information Services are limited to land registry offices in the areas identified on the coverage map.

Completeness of the Sales History Report.

Some Sales History Reports may be incomplete due to the amount of data collected during POLARIS title automation. Subject properties may also show nominal consideration or sales price (e.g. $2) in cases such as transfers between spouses or in tax exempt transfers.

Demographic Information is obtained from Environics

Demographic Information. Analytics. Environics Analytics acquires and distributes Statistics Canada files in accordance with the Government of Canada's Open Data Policy. No information on any individual or household was made a vailable to Environics Analytics by Statistics Canada. PRIZM and selected PRIZMC2 nicknames are registered trademarks of The Nielsen Company (U.S.) and are used with permission.

The Property Information Services, reports and information are provided "as is" and your use is subject to the applicable Legal Terms and Conditions. Some information obtained from the Land Registry Information Services is not the official government record and will not reflect the current status of interests in land. Use of personal information contained herein shall relate directly to the purpose for which the data appears in land registry records and is subject to all applicable privacy legislation in respect of personal information. Such information shall not be used for marketing to a named individual.

Parcel Mapping shown on the site was compiled using plans and documents recorded in the Land Registry System and has been prepared for property indexing purposes only. It is not a Plan of Survey. For actual dimensions of property boundaries, see recorded plans and documents.

Copyright © 2002-2022 Teranet Inc. and its suppliers. All rights reserved.

APPENDIX E: Market Conditions

OUTSTANDING MARKET REVIEW

Our goal is to ensure that our aggressive and ‘dialled in’ marketing plan get the most exposure of your property listing in front of serious qualified purchasers. It’s important for us to keep communication open with you and routinely review the market conditions and our marketing efforts.

MARKET CONDITIONS

The conditions of the macro and micro markets surrounding your property are key to understand when offering your property for sale. As your real estate advisors, it’s important for us to make sure that we effectively communicate those conditions with you so that you may be informed.

Months-of-Inventory [M.O.I.]

Determining the current market conditions, and type of market, is key in order to provide professional guidance with the sale of your property. A ‘market intelligence’ tool that illustrates the strength of the market is determining the number of months’ of inventory. This metric identifies the strength of the market be indicating market demand. Typically:

“Seller’s Market” is identified as between 0 4 months’ of inventory. “Balanced Market” is typically represented by 4 6 months of inventory. “Buyer’s Market” is defined as anything over 6+ months of inventory.

The Heddle Group. | www.theHeddleGroup.ca | info@theheddlegroup.ca

https://matrix.rahb.ca/Matrix/Stats/StatsPrint.aspx?c=AAEAAAD**…GNoYXJ0LXR5cGUxPSJTcGxpbmUiIGNoYXJ0LXR5cGUyPSJDb2x1bW4iIC8(&t2=

Month Months of Inventory

Nov 2021 0.5

Dec 2021 0.6

Jan 2022 0.8 Feb 2022 0.6 Mar 2022 0.6 Apr 2022 0.7 May 2022 1.5 Jun 2022 1.6 Jul 2022 1.8 Aug 2022 2.2 Sep 2022 5.3 Oct 2022 8.5

Search Criteria

Time frame is from Nov 2021 to Oct 2022 Region is 'Hamilton' Municipality is 'Dundas (41)' Transaction Type is 'Sale' Results calculated from approximately 500 listings

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Month Sale Price, Average

Nov 2021 $899,384

Dec 2021 $1,148,382

Jan 2022 $1,348,704

Feb 2022 $1,254,670 Mar 2022 $1,169,316 Apr 2022 $1,076,401 May 2022 $1,061,108 Jun 2022 $1,087,390 Jul 2022 $1,102,232 Aug 2022 $935,468 Sep 2022 $1,040,917 Oct 2022 $949,125

Search Criteria

Time frame is from Nov 2021 to Oct 2022 Region is 'Hamilton' Municipality is 'Dundas (41)' Transaction Type is 'Sale' Results calculated from 332 listings

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Oct 2022

Search Criteria

Time frame is from Nov 2021 to Oct 2022 Region is 'Hamilton' Municipality is 'Dundas (41)' Transaction Type is 'Sale' Results calculated from 332 listings

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