Blog - Page 6 of 6 - CAITLIN HILL

Real estate industry updates & Muskoka events

Non-waterfront sales just miss tying February record

Residential non-waterfront sales activity recorded through the MLS® system of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS® numbered 130 units in February 2016, were up 23.8 per cent from February 2015. This was just one sale short of the February record set in 2004.

Sales of waterfront properties rose by 2.6 per cent year-over-year to reach 39 units in February 2016. This was the highest February level since 2002.

“Demand for both waterfront and non-waterfront properties remained strong in February, with sales figures for both coming in at their highest levels in over a decade,” said Tom Wilkinson, President of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS®. “As per usual at this time of the year, lower winter sales volumes, particularly for waterfront properties, are playing havoc with average and median price measures.”

The median price for residential non-waterfront property sales was $225,500 in February 2016, up 0.2 per cent from February 2015.

The median price for waterfront sales was $310,500 in February 2016, down 16.6 per cent from February 2015.

The dollar value of all residential non-waterfront sales in February 2016 totalled $31.7 million, up 29.9 per cent from February 2015. This was the highest dollar volume of any February on record.

The total value of waterfront sales was $20 million, down eight per cent from February last year.

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The Tamaracks Have Just Peaked

Tamarack, the latest changing tree species in Algonquin Park, has “just peaked” depending upon the location, showing a brilliant golden colour in wetland areas before the needles of this coniferous tree species drop for the winter. The rusty reds of Red Oak are also present on the landscape offering some colour, in combination with the Tamaracks. All the other deciduous tree species are bare and fully prepared for the onset of winter.

During the past 42 years in Algonquin Park, the peak Sugar Maple fall colour has ranged from as early as September 15 (1982) to as late as October 9 (1996). This year the peak Sugar Maple colour was determined to be October 8, 2015 (nearly record late as a result of warm fall temperatures). Many factors such as temperature, rainfall, wind speed, and daylight length all play factors in when the peak will occur and how long it will last. High winds, rain, or even snow can sometimes quickly result in fragile leaves being knocked off the trees increasing what is called “leaf fall”.

The peak of Algonquin Park’s Sugar Maple forests is traditionally expected during the last week of September or first week of October. An Algonquin Park visit between early and mid-October will observe the peak yellow-orange colours displayed by poplar and birch species. A mid to late October visit showcases Tamarack at their peak yellow colour before dropping their needles in preparation for winter.

Waterfront Sales Set New Record

Residential non-waterfront sales activity recorded through the MLS® system of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS® numbered 173 units in September 2015, down 9.4 per cent from September 2014. This was still above the five and 10-year average for the month.

On a year-to-date basis residential non-waterfront property sales were running 4.4 per cent above levels at the same time last year. This was also the best sales figure for this period since 2003.

Sales of waterfront properties rose 17.3 per cent from September a year ago to 203 units in September 2015. This was the first September to see sales rise above 200.

Year-to-date sales of waterfront properties were running 13.6 per cent ahead of the same period in 2014, marking the best first three quarters of any year on record.

“Non-waterfront sales stepped back on a year-over-year basis in September, although looking back past last year it was still the best showing for the month in more than a decade,” said Tom Wilkinson, President of Muskoka Haliburton Orillia – The Lakelands Association of REALTORS®. “Meanwhile, for the third time in the last four months, sales of waterfront properties again set a new monthly record.”

The median price for residential non-waterfront property sales was $227,750 in September 2015, up 4.5 per cent from September 2014.

The median price for waterfront sales was $375,000 in September 2015, edging down 1.3 per cent from September 2014.

The dollar value of all residential non-waterfront sales in September 2015 totalled $41.6 million, down 8.4 per cent from September 2014. However, this was still the second best level for the month on record.

The total value of waterfront sales was $103.6 million, up 17.4 per cent from September last year. This was the best September on record and the first time in history that volumes in this month had surpassed $100 million.

Summary – Sales by Housing Type
Category	September 2015	September 2014	Year-over-year percentage change
Non-Waterfront Residential	173	191	-9.4
Waterfront	203	173	17.3
Includes transactions in all areas recorded by the REALTORS® Association of Ontario Lakelands

Summary – Median Price by Housing Type
Category	September 2015	September 2014	Year-over-year percentage change
Non-Waterfront Residential	$227,750	$218,000	4.5
Waterfront	$375,000	$380,000	-1.3
Includes transactions in all areas recorded by the REALTORS® Association of Ontario Lakelands

Detailed – Non-Waterfront Residential Sales and Median Price by Area
Non-Waterfront Residential
By Area	Unit Sales			Median Sale Price
By Area	September 2015	September 2014	Year-over-year percentage change	September 2015	September 2014	Year-over-year percentage change
Muskoka	88	93	-5.4	$227,000	$200,000	13.5
Haliburton	16	11	45.5	$181,500	$184,000	-1.4
Orillia	68	78	-12.8	$233,000	$225,500	3.3

Detailed – Waterfront Sales and Median Price by Area
Waterfront
By Area	Unit Sales			Median Sale Price
By Area	September 2015	September 2014	Year-over-year percentage change	September 2015	September 2014	Year-over-year percentage change
Muskoka	123	96	28.1	$395,000	$428,853	-7.9
Haliburton	51	44	15.9	$350,000	$302,500	15.7
Orillia	26	42	-38.1	$444,500	$347,500	27.9

Three Muskoka Lakes In A Day

Yesterday I found myself on three different lakes in Muskoka. Lucky me. My morning started on Brandy Lake in Port Carling, then I travelled to Lake Muskoka and by the end of the day I was on McKay Lake in Bracebridge. We are so lucky here in Muskoka to have so much water around us. I think most of us take it for granted. As an appraiser and a real estate agent, I see things through a different lense than most. Yesterday, as I stood on a hard sand beach looking out at the morning sun on Brandy Lake, I tried to shed that analytical mind of mine that’s always looking at exposure, frontage, view, topography – and just breath it in and enjoy. I love my job. Who else gets to visit three lakes in a day and call it work! But my analytical mind can’t rest for long. I started to think about the different people that certain lakes attract – and they do. Just hearing a lake name will bring to mind a certain “type”. Now of course there are exceptions to every rule, but here in Muskoka it really seems to be true. People either want to be on the “Big Lakes” or the absolutely DO NOT. Some want the smaller lakes, but still be close to the big lake action, and others want to be far away from it all. Where ever you are, they are all beautiful. Muskoka and it’s lakes are an amazing resource for us. Their towering pines, granite rock outcroppings and varied terrain are one of a kind, and their beauty is something I will never get used to.

June Real Estate Update

It’s June in Muskoka and the real estate market is hot. For Sale signs are being replaced with Sold signs all over the District. Whether you are selling a home or cottage, that’s good news for everyone.

Waterfront unit sales in south Muskoka are at an all time high since before the year 2000. The month of May was up by 20 units over the same month looking back over 15 years. The biggest jump in this sector is in properties ranging from $500,000 to $2,000,000. Unit sales in this range are higher than we have seen before.

Bracebridge residential unit sales are holding pretty steady in line with where they have been since 2010, with the month of May being slightly slower than previous years. We’ve seen the most sales in the $300-$400,000 range. The average sale price for Bracebridge residential from Jan-May 2015 is $286,766, up $22,260 over 2014.

New Muskoka home and cottage properties are being listed everyday, and now’s the time to keep your eye out for that perfect one – you never know, it may be gone before you know it!

Mortgage Brokers – What Can They Do For You?

Obtaining financing and taking out a loan from the bank for hundreds of thousands of dollars is probably the most stressful part of buying a home, and the biggest purchase people will make in their lives.

In the past, home buyers in Muskoka have pretty much turned exclusively to their banks for their mortgage needs. These days there are more options thanks to mortgage brokers. Independent mortgage brokers are licensed mortgage specialists who have access to multiple lenders and mortgage rates. They essentially negotiate the lowest rate for you.

A mortgage broker can save you time and headaches. Instead of meeting with every bank in town, they do all the work for you. They act as a liaison between you and the lending institutions. Mortgage brokers negotiate the best available terms and rates on your behalf, and will usually work with dozens of different lenders to do so. It really is the most efficient way to get the best mortgage for your needs.

A mortgage broker can help you with all aspects of a mortgage, from figuring out how much you can truly afford, to determining the best mortgage product for you, to finding ways to save you money and pay off your mortgage faster.I
Since mortgage brokers are only paid when a loan is approved and signed, their assistance will cost you nothing.

2. Mortgage brokers help those with less-than-perfect finances secure a loan.
For those with blemishes on their credit report or a low household income, a broker might be able to negotiate better rates than if you approached the lending institutions yourself.

3. Mortgage brokers will save you time.
Mortgage brokers will do all of the legwork for you in terms of paperwork and negotiating with lenders. They will also be your point of contact for everything related to your financing.

When deciding which type of financing is right for you, here are a few details you need to make sure you share with your mortgage broker or the lending institution you decide to work with:

Prepayment
How often will you be able to make additional payments on your mortgage without being assessed a penalty, and how much will you be able to pay?

Frequency of payments
Whether it’s weekly, biweekly, accelerated biweekly or monthly, make sure the lender offers the payment frequency you feel most comfortable with.

Penalties to breaking the mortgage
Make sure that you are fully aware of what the penalty would be should you decide to opt out of your mortgage term.

Here are links to some local Muskoka Mortgage Brokers that we recommend:

James Zantingh, The Mortgage Centre
http://www.mortgageandlending.ca/

Leslie McCann, Summit Mortgage Services
https://www.summitmortgageservices.ca/

Springify Your Cottage or Home

Sell Sell Sell – Take all that extra stuff and have a garage sale! Clean out cupboards, basement and garage and let other people have a chance to enjoy the things you don’t use anymore – and make some cash!

Give It Away – What doesn’t sell at your garage sale, or if you don’t have the time to have one, give your extra things to a charity like the Goodwill or Salvation Army. Helping those who are less fortunate will help them and help you.

Clean Out The Garage – The garage is the place where things go and never return. Spring is the time to pull out those large items and take them to the dump.

Scrub It Clean – There are some things that aren’t a part of our daily (or weekly) cleaning routine. Spring is the time to clean out all those nooks and crannies. Think about your gutters, dryer vent, under the bed and behind furniture. Don’t forget the cupboard under the kitchen sink!

Organize – Now’s the time to go through those kitchen junk drawers, the desk drawer that will hardly close, even your dresser drawers (if they have mysteriously gotten too full over the past year).

Update Curb Appeal – Nothing says spring like flowers and some colour. After a drab winter, brighten up your home by planting some flowers either in the garden or in pots on the front porch or alongside the driveway.

Cottage Selling Tips

1 – First Impressions Last A Lifetime – What a buyer sees when they arrive at your cottage will go a long way in forming their opinion of your property. Clean up the yard of leaves and debris, give the deck a fresh coat of paint and plant some flowers to give an added touch of colour.

2 – Get Rid Of Your Stuff – Buyers want to envision themselves and their things in your cottage. Getting rid of clutter and knickknacks will de-personalize the space and make rooms feel bigger. This helps buyers focus on room size, layout and view, as opposed to being distracted by clutter and mess.

3 – Take Care Of The Fix-It Jobs – All those little jobs that get put off should get taken care of. The leaky faucet, the hole in the screen door, the damaged drywall – taking care of those things will go a very long way. Also make sure all your light bulbs are working.

4 – Price It Right – Pricing your property right is the key to selling. If it’s priced to high, the market will know. Properties that sit and go stale have a hard time selling.

Buying a House In Muskoka

When you’re looking for a house for sale in Muskoka, there are many things to take into account and sometimes it can get a little overwhelming. I’ve found lots of buyers that don’t want to have to think about things like a water test or home inspection. For them, the process of buying is stressful enough. I gladly take care of the little things in order to make the experience as smooth as possible for my clients.

Often buyers have spent weeks and sometimes months looking for a houses in Muskoka. I will take care of searching through available listings to find the ones that match your needs and wants. That way you aren’t spending endless hours at night, after a hard days work, looking through MLS listings that may or may not be right for you. I will let you know whenever new listings come on the market and take you to see the ones you want. I can get surveys, utility costs and other information that may be helpful in your decision making process.

Once I find the right home for you, I will help you negotiate through the offer process to make sure you get the best price possible. I’ll make it as quick and easy at we can. At this point most buyers are usually exhausted. Yet now they have to think about conditions, which have to be dealt with by strict deadlines. It can all be a little overwhelming. That’s where my knowledge of the area and the business can makes things a whole lot easier. I will help with mortgage brokers, insurance companies, lawyers, home inspectors, water tests, even movers and house cleaners! Buying a house for sale in Muskoka should be an exciting and enjoyable experience. With my help, it can be.

I love working with buyers. It’s fulfilling work to help people through what is usually the single biggest purchase in their lives, and to see smiles on their faces when it’s all over and they’re living happily in their new home. Finding and buying a house for sale in Muskoka is no small task, and I am here to help you through every step of the process.