Canadian home sales edge higher in November - Chuck Surette

OTTAWA - December 15, 2011 – According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity rose slightly in November 2011 from the previous month.

Highlights:

• Sales activity rose slightly (+0.5 per cent) from October to November on a seasonally adjusted basis.
• Year-to-date sales remained in line with the 10 year average, but pulled further ahead of last year’s levels.
• The number of newly listed homes was down 3.4 per cent from October to November.
• The national housing market remains balanced, but is edging closer to seller’s market territory.
• The national average price posted a 4.6 per cent year-over-year gain in November, the smallest increase since January.

Sales activity recorded through the MLS® Systems of real estate Boards and Associations in Canada edged upward by one-half of a percentage point. This marks the third straight month in which national activity was up from the previous month’s levels.

Activity rose in about 60 per cent of all local markets with a record November in the Halifax-Dartmouth region offsetting a dip in sales in Toronto.

“The Canadian housing market is proving resilient in the face of ongoing global economic and financial uncertainty, to the benefit of Canadian economic growth,” said Gary Morse, CREA’s President. “That said, some housing markets are picking up while others are holding steady or consolidating, so buyers and sellers should talk to their local REALTOR® to understand current and prospective trends in their local housing market.”

Throughout most months in 2011, actual (not seasonally adjusted) national home sales were in line with the 10-year average. November sales marked a break in that pattern, climbing seven per cent above the 10 year average and reaching the fourth highest level on record for the month.

“Toward the end of every year, there’s a natural inclination to compare how momentum for national sales activity and average price compare to the year before,” said Gregory Klump, CREA’s Chief Economist. “National sales activity picked up late last year, and November’s results suggest that a similar trend may be playing out again this year. By contrast, national average price also picked up toward the end of last year, whereas this year it has held steady after having peaked in the spring.”

“With interest rates expected to remain low for longer, the housing sector will no doubt be closely watched for signs of excess,” added Klump. “That said, current trends for resale housing and new home construction suggest that tightened mortgage regulations are working as intended and fostering economic stability in Canada.”

A total of 432,048 homes have traded hands via Canadian MLS® Systems so far this year, up 2.1 per cent from levels in the first 11 months of 2010. The year-to-date sales figure remains broadly in line (+0.7 per cent) with the average for that period from 2001 to 2010.

Compared to October, the number of newly listed homes fell 3.4 per cent in November. New listings slipped lower in more than two-thirds of Canadian housing markets, with Toronto, the Hamilton-Burlington region, and Calgary contributing most to the national decline.

The national housing market remains balanced, but is edging closer to seller’s market territory. The national sales-to-new listings ratio, a measure of market balance, stood at 55.5 per cent in November, up from 53.4 per cent in October. This marks the third month in which the national ratio has risen, and it now stands at its highest reading since the spring.

Based on a sales-to-new listings ratio of between 40 to 60 percent, just over half of local markets in Canada were balanced in November, while a third of markets qualified as sellers’ markets.

The number of months of inventory nationally stood at six months at the end of November. It has held steady at about this level since April, which is above levels posted during the first quarter. The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is another measure of the balance between housing supply and demand.

The actual (not seasonally adjusted) national average price for homes sold in November 2011 stood at $360,396. This represents a year-over-year increase of 4.6 per cent, its smallest increase since January.

Source:CREA

I'm Here to Help,

Chuck Surette

Sales Representative

Coldwell Banker at Success Realty, Brokerage

Office-519-633-5570

Cell-519-777-4727

http://www.chucksurette.ca

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Reindeer Cupcakes

Josies latest project - Reindeer Cupcakes.

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Chuck Surette

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Green Door

Finishing up the door to my office tonight. It's made from scrap ship-lap cedar board and 100 year old studs removed during renos to our home + a salvaged window.
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Chuck Surette

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Making Rice Krispies Packages

Todays project -Josie saw this idea online and just "had to" make them.

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Don't be scared of the Dark

This Holiday Season - Don't be scared of the Dark. Kegging up some dark ale for our Christmas guests. This one should be very mild. I wonder how many takers we'll get?

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Chuck Surette
Sales Representative Coldwell Banker at Success

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Client/Partnership Support

Big thanks to Ryan at Kileys Sweetcorn for designing + displaying my billboard! We used our billboard/parade float to participate in 3 local parades this year. It was a blast! Thanks for your support.

I'm here to help,

Chuck Surette
Sales Representative
Coldwell Banker at Success Realty
www.chucksurette.ca

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Untitled

Deadly-Sins-Overpricing - Chuck Surette.pdf Download this file

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Chuck Surette

Sales Representative

Coldwell Banker at Success Realty, Brokerage

Office-519-633-5570

Cell-519-777-4727

http://www.chucksurette.ca

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A thank you from Peter Brown my Client

This format should work better:

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Chuck Surette

Sales Representative

Coldwell Banker at Success Realty, Brokerage

Office-519-633-5570

Cell-519-777-4727

http://www.chucksurette.ca

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A thank you

Nice referral - not sure if it will show up. Thanks Peter!
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-----Original Message-----
From: peter brown
Date: Wed, 7 Dec 2011 00:53:16 To:
Subject: a thank you

Chuck

I wanted to take this opportunity to express my thanks and gratitude for your professional assistance when my son and his wife purchased a home.  As you know, my son relocated from Ohio to St. Thomas and he was very unfamiliar with the area, house prices and value.  Your help was most appreciated as you listened, gave great advice and continued to work right up to and including the closing on the home they bought.  You were honest, hard-working and showed care and knowledge.  As you know, my son had "tried" to find a home with 4 other realtors but they simply were more interested in a sale rather than the process of picking a home that suited their needs and likes.

It was a very pleasant experience dealing with you and my son, daughter-in-law and I would highly recommend you to other buyers as we know you are a person of quality and someone who can be trusted.

All the best to you and your family.

Respectfully
Peter Brown

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London St. Thomas Real Estate Results from November 2011

The news from St. Thomas was very positive. Fifty homes sold in London’s Sister City in November, up 22% from November 2010. The average price for a home in St. Thomas Year to Date stands at$185,303.

Data shown was taken from CREA’s National MLS® Report for September 2011, and it demonstrates how homes in London /St. Thomas continue to maintain their affordability compared to other major Ontario and Canadian centres.

Source: LSTAR E-STATS

I'm Here to Help,

Chuck Surette

Sales Representative

Coldwell Banker at Success Realty, Brokerage

Office-519-633-5570

Cell-519-777-4727

http://www.chucksurette.ca

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Stable outlook for Canada's housing market in 2012 - Chuck Surette

House prices and sales will remain stable through 2012, according to the latest forecast by the Canada Mortgage and Housing Corporation (CMHC).

In its fourth quarter outlook, CMHC predicts the average price will increase 1.2% from $363,900 in 2011 to $368,200 in 2012. Sales will rise from 450,100 units in 2011 to 458,500 in 2012, up 1.9%. Housing starts, however, will drop 2.2% from 191,000 in 2011 to 186,750 in 2012, according to the CMHC outlook.

Global economic concerns have resulted in growing fears about how that might impact Canada’s market, but CMHC Deputy Chief Economist Mathieu Laberge said the country’s real estate market will remain strong.

“Despite continued uncertainty in the global economy, Canada’s economic fundamentals remain positive, particularly with respect to interest rates, employment and immigration,” said Laberge. “These factors will continue to support Canada’s housing sector in 2012.”

In Vancouver and Abbotsford, where average-price growth has topped any other Canadian city, the average will gain 3.2% in 2012, on top of 5.3% gains forecasted for this year. 

Unemployment there will drop from 7.9% to 7.5%, said the CMHC report. Sales activity, however, will start to tail off from the 7.3% growth in 2011 to 3.3% growth in 2012.

The market will likely continue to attract builders, with housing starts expected to rise 9.4% in 2012 and building on 5.1% gains in 2011 over 2010.

In the Greater Toronto Area, apartment starts are expected to be 37.5% higher in 2011 over 2010, totalling 18,200 stats in 2011. Those numbers won’t slow in 2012, as apartment units will gain another 1.6% to reach 18,500 in 2012.

Overall housing starts will drop 2.3% in Toronto, CMHC predicts, largely based on a 14.1% drop in single-detached starts, from 8,500 in 2011 to 7,300 in 2012.

Toronto price gains will also slow, from 4.3% gains in 2011 to 1.4% gains in 2012 to an average of $457,500.

source:canadianrealestatemagazine.ca

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Chuck Surette

Sales Representative

Coldwell Banker at Success Realty, Brokerage

Office-519-633-5570

Cell-519-777-4727

http://www.chucksurette.ca

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Nuthin says lovin' like Utility Turkey in the Oven....

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CREA Updates Resale Housing Forecast - Chuck Surette

OTTAWA – November 15, 2011 – The Canadian Real Estate Association (CREA) has made a small revision to its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations for 2011 and 2012.

Activity came in broadly in line with expectations across much of the country in the third quarter of 2011 with the exception of Ontario. Sales there came in stronger than anticipated in a number of regions over the summer, but were held aloft mostly by Toronto activity as the third quarter ended.

Stronger than anticipated sales in Ontario pushed up national activity in the third quarter, and prompted CREA to raise its annual sales forecast for 2011 from 0.9 per cent to a revised 1.4 per cent.

“The continuing strength of home sales activity in the face of ongoing financial market volatility speaks volumes about the confidence of Canadians in our housing market, said Gary Morse, CREA’s President. “Interest rates look like they’ll remain low at levels that are friendly to the housing market for some time to come, and that’s good news for Canadian home sales activity and the overall economy.”

CREA forecasts that national sales activity in 2012 will ease by 0.5 per cent to 451,200 units. This represents a small upward revision CREA’s previous 2012 sales forecast, and reflects expectations that Canadian interest rates will remain low until well into next year. Forecast sales for 2011 and 2012 remain roughly on par with the annual average for activity over the past ten years.

The national average price has evolved as CREA expected, with average home prices in Vancouver moderating compared to levels in the first half of the year. Vancouver sales of multi-million dollar properties have returned to more normal levels after having shattered a number of monthly records this spring.

CREA’s national average home price forecast for 2011 is little changed at $362,700, representing an annual increase of 7.0 per cent. In 2012, the national average price is forecast to hold even with the 2011.

“A number of factors will keep Canada’s housing market in check as interest rates remain low,” said Gregory Klump, CREA’s Chief Economist. “These include tightened mortgage regulations, high household debt levels, together with slower economic and job growth. That said, with global economic growth expected to remain fragile but positive, employment levels and income growth in Canada should remain supportive for the housing market.”

“Headline news about economic uncertainty has put only minor dents in consumer confidence. How confidence evolves depends on how global turmoil plays out over the coming months. Should global economic headwinds weigh more heavily than expected on Canadian economic prospects, the federal government and the Bank of Canada have made it clear they stand ready to take flexible and measured responses as appropriate. That’s encouraging from the standpoint of the Canadian economic and housing market prospects.” 

I'm Here to Help,

Chuck Surette

Sales Representative

Coldwell Banker at Success Realty, Brokerage

Office-519-633-5570

Cell-519-777-4727

http://www.chucksurette.ca

See the full gallery on Posterous

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Santa Claus Parade Chuck Surette

Here's a picture of our float for the St. Thomas Santa Claus Parade. It was a blast! We saw lots of friends and gave away over 12 pounds of candy!
I'm here to help,
Chuck Surette
Coldwell Banker at Success Realty

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Canadian home sales edge higher in October

OTTAWA – November 15, 2011 – According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity picked up a little further in October 2011 following the uptick in September.

Highlights:

• Sales activity rose in October, marking the highest level since January.
• Actual (not seasonally adjusted) national sales activity in October stayed in line with the 10-year average for the month, as it has most months this year.
• Year-to-date sales are also even with the 10-year average.
• The number of newly listed homes remained little changed from levels in the previous three months.
• While the combination of stronger sales and stable new listings resulted in a slightly tighter balance of supply and demand, the national housing market remains firmly rooted in balanced territory.
• The national average price posted a 5.5 per cent year-over-year gain in October, the smallest increase since January.

Homes sold through MLS® Systems of real estate Boards and Associations in Canada rose 1.2 per cent in October 2011 from the previous month. While national sales activity levels are still best described as average, the monthly rise in October sales built on the 2.5 per cent gain in September, and lifted activity to the highest level since January.

Just over half of all local markets posted monthly sales increases, led by gains in Montreal, Toronto, and Vancouver.

“There was no shortage of headline news in October about global financial market volatility and economic uncertainty, but it doesn’t appear to have dampened homebuyers’ spirits,” said Gary Morse, CREA’s President. “Interest rates are at low levels and are likely to stay that way for some time to come. Homebuyers clearly see the opportunities that the current interest rate environment presents. That said, all real estate is local, so buyers and sellers should consult their local REALTOR® for an understanding of opportunities in their housing market.”

As has been the case in most months this year, actual (not seasonally adjusted) national home sales in October stayed in line with the 10-year average for the month. Although up 8.5 per cent from levels one year ago, the gain in large part reflects last year’s nascent pick-up in activity following a mid-year lull.

A total of 397,561 homes have traded hands via Canadian MLS® Systems so far this year. This represents an increase of 1.8 per cent from levels in the first 10 months of 2010, but is directly in line with the 10-year average for the year-to-date figure.

The number of newly listed homes remained little changed in October compared with levels recorded in each of the previous three months.

“The prevailing economic outlook for Canada is one of slower but still positive economic growth, with heightened caution about investment and hiring decisions,” said Gregory Klump, CREA’s Chief Economist. “Consumer confidence and the housing sector are being supported by low interest rates and high employment levels, but their prospects depend on how Canada’s economic outlook evolves in response to global economic risks and outcomes in the months ahead.

Home sales activity over the past couple of months suggests buyers are confident that the Canadian economy will remain relatively unscathed by global economic risks, since every home purchase is a homebuyer’s vote of confidence in the future. That confidence is no doubt rooted in the success of coordinated fiscal and monetary policy responses that helped quickly pull Canada out of the last recession, and a stated willingness and ability to carry out further policy actions if need be.”

While the combination of stable new listings and stronger sales made for a slightly tighter balance between supply and demand in October, the national housing market remains firmly rooted in balanced territory. The national sales-to-new listings ratio, a measure of market balance, stood at 53.4 per cent in October, up from 52.8 per cent in September.

Based on a sales-to-new listings ratio from 40 to 60 percent, about 60 per cent of local markets in Canada were in balanced market territory in October. Of the remaining markets, there was a handful more seller’s markets than buyers’ markets.

The number of months of inventory stood at six months at the end of October on a national basis, little changed from the end of September (6.1 months). It has remained stable at about six months since April. The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is another measure of the balance between housing supply and demand.

The actual (not seasonally adjusted) national average price for homes sold in October 2011 stood at $362,899. This is up 5.5 per cent from October 2010, making it the smallest increase since January.

I'm Here to Help,

Chuck Surette

Sales Representative

Coldwell Banker at Success Realty, Brokerage

Office-519-633-5570

Cell-519-777-4727

http://www.chucksurette.ca

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Ten offers to buy empty St. Thomas Ford plant

Ten offers to buy empty St. Thomas Ford plant

Company to compile short list

By QMI AGENCY

Updated 6 days ago

More than 10 offers have flooded in to buy Ford's empty St. Thomas Assembly Plant, some of which offer "economic opportunity" for the region, says the commercial realtor handling the file.

The Big Three automaker will now compile a shortlist of possible buyers for the massive factory, which shut down in September after a 44-year, eight-million vehicle run.

Ensuring that any buyer improves the local economy is top of mind for Ford, said realtor Peter Whatmore, vice-president of C.B. Richard Ellis.

"We are delighted with how it went (with the listing) — there was a tremendous response," he said. "Several of them are probably very good for the local economy and the greater region, although it will take time."

Ford would like to see an operating business on the site, to erase the memory of the plant's closing, said another observer.

"Ford wants to see something there that will run well, so it does not look like it ruined the region," said Dennis Broome, president of the St. Thomas Economic Development Corp. board.

"This is about jobs," he said. "If we can save any, it helps London, St. Thomas and the region."

More than 1,000 jobs were lost when the sedan plant, best known for the Crown Victorias it built, was closed.

Ford will compile a short list in about 30 days of the preferred offers on the site and talks will begin in earnest after that, with no timeline for completion of a sale.

"We have had submissions from all over North America," said Whatmore. "Some of them are going to create jobs — we are optimistic Ford will ultimately come to terms with the best economic package for the region."

C.B. Richard Ellis has conducted 25 plant tours, some with local businesspeople, but Whatmore declined to comment if there are any local offers on the table.

"Worst-case scenario for our client would be razing the site. There are substantially better options on the table," he said.

The prospective sale is good news for Southwold township, where the factory is, since it has lost substantial tax revenue from the closing and hopes to get some back with a new owner.

"That is excellent," said Suzanna Dieleman, the township treasurer.

"It is important in a number of ways. It would provide employment for our residents, and it would be an excellent boost for the morale of the community.

"If it was occupied and used for commercial or industrial business, that would be good for the community as a whole."

This year Ford will pay about $200,000 in taxes on the site, about half what it paid when the plant operated.

Township residents have been hit with a 7.5% tax hike this year and may be looking at another 7% next year.

I'm Here to Help,

Chuck Surette

Sales Representative

Coldwell Banker at Success Realty, Brokerage

Office-519-633-5570

Cell-519-777-4727

http://www.chucksurette.ca

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Roof vents?

We were inspecting a mobile home yesterday and came upon this...Looks like some of my late Father in-laws handiwork. Home made roof vents. It looks like he did a nice job!
Chuck Surette
Sales Representative
Coldwell Banker at Success Realty

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125 Hagerman is FIRM!

125 Hagerman is a firm deal (sold!). Congrats to my clients Justin and Jen. Special thanks to Peter. Thanks so much for the referral of your family member. I appreciate the opportunity to assist you both. It has truly been a pleasure. I'm here to help,
Chuck Surette
Sales Representative
Coldwell Banker at Success Realty
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Chrismas Cheer

Means Beer! 2 new brews on tap for Christmas season. Amber all grain + Brown with demurra sugar + home grown hops. Come by for some Yule tide cheer!

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Yoga Cat

Tito is a strange cat...
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Punkins!

Kileys Sweetcorn has Halloween Pumpkins $2 each or 3 for $5.
Call Ryan 519-630-8429
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Looks like a burger, tastes like a Cupcake!

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Hamburger Cupcakes!

Josies latest culinary creation - Hamburger Cupcakes! I think our kid is going to be a pastry chef...
Chuck Surette
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Port Stanley Sunset

Would you like to see sunsets like this more often? See my new listing in Port Stanle at http://www.chucksurette.ca
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New Listing in Port Stanley

Steps from the beach - this bungalow could be just whay the doctor ordered! Call me at 519-777-4727 for more details! Chuck Surette
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New Play Structure at Paradise Valley

Add another ammenity to the list at 4895 Lakeshore Road.
See www.chucksurette.ca for more details.
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Happy Thanksgiving!

One of the things I am thankful for this year, is that I don't have to do this for a living! Adding some drainage to the basement. Holy hard work! Happy Thanksgiving.
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Picture Perfect Pie

Pie by Josie and I. (My first) I hope it tastes as good as it looks!
Chuck Surette
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Cleaning the garage

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Cityview

Chicken Burger and chilli for lunch.
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At the cityview restaurant

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Sign is up! 47 Barwick

Sign went up today at 47 Barwick Street in St. Thomas. MLS listed for $138,900.
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Swap Meet!

Checking out all the cool cars at the London Swap Meet. This sedan delivery could be pretty sweet!
Chuck Surette
Coldwell Banker at Success Realty
MLS
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Walking a future building lot MLS

Checking out the site for a new house to be built just outside of Shedden listed on the MLS.
Chuck Surette
Coldwell Banker at Success Realty

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Randall klein Design - Furniture Made in London

I had a chance to check out Randall Klein Design today. Awesome selection of furniture made right here in London. And yes, they have a clearance section where you can get items at ikea prices!!!
I'm here to help,
Chuck Surette
Coldwell Banker at Success Realty
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New MLS Listing 967 Elias St in London

I just listed this picture-perfect bungalow on the edge of Old East Village in London. Listed at $149,900. All the work has been done. All it needs is You!
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Fresh Floors

Hey - I sanded, stained + poly'd the floor in our spare room. What do ya think? Chuck Surette
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Happy birt-day!

Happy Birt-day to my lovely wife.
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Watchin the breaks on the Great Lakes

Some good waves on Lake Huron today!
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Heading to the Pinery

Heading to the Pinery via Paradise Valley, after a very positive showing of 4895 Lakeshore Rd. Chuck Surette
Coldwell Banker at Success Realty MLS
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New MLS Listing 47 Barwick

New Listing in St Thomas coming soon!
Chuck Surette
Coldwell Banker at Success Realty
MLS
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10 Dollar Canoe continued

More holes!! (?)
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Staying on Top of Things.

Installed a new (to me) topper on the truck today. Thanks Russ!
Chuck Surette
Coldwell Banker at Success Realty
MLS
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10 Dollar Canoe continued

What hole?
Do you think it will hold water?
Chuck Surette
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What $10 gets you at a yard sale

It's gonna take some work. Hopefully it will float!
Chuck Surette
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Anyone know what type of butterfly this is?

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SWEE-CORN

First Sweetcorn of the season!!!
Come see Ryan at Kiley's Sweetcorn + Vegetables located at the corner of Bush Line + John Wise
Tell him I sent you...

I'm here to help,
Chuck Surette
Coldwell Banker at Success
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Kudos to Park Place Catering

I was trapped in the office and Starving... Park Place catering and Sandwich Shop to the rescue! Check them out!
Chuck Surette
Coldwell Banker at Success Realty
St. Thomas MLS
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Billboard Frame Complete

Almost done with the billboard. Good thing it wasn't too hot today...
Chuck Surette
Coldwell Banker at Success Realty
MLS
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Best Pizza in London (?)

I know some folks love Marvelous - but I'm a big fan of Piero's. What about You??

I'm here to help,
Chuck Surette
Coldwell Banker at Success Realty
MLS

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Canadian home sales pick up in June

OTTAWA – July 15, 2011 – According to statistics released today by The Canadian Real Estate Association (CREA), home sales activity over MLS® Systems of Canadian real estate Boards climbed in June 2011 compared to May.

Highlights:

• Sales activity climbed from May to June, with a big year-over-year gain reflecting falling demand in June 2010.

• Year-to-date sales remain in line with the ten-year average.
• The number of newly listed homes also rose from May to June.
• National housing market remains firmly entrenched in balanced territory.
• National average price still being skewed upward by the value of sales in expensive Vancouver neighbourhoods, with price gains in other markets providing additional loft.

Seasonally adjusted national home sales activity rose 2.6 per cent in June 2011 compared to the previous month. Two-thirds of local markets posted month-over-month gains in June.

Activity remained stable in Toronto while declining slightly in Vancouver and the Fraser Valley. Major markets that saw gains compared to May included Calgary, Montreal, Ottawa, London, Hamilton, and Victoria.

“Canadian housing demand remains resilient, thanks to low interest rates, job growth, and home buyer confidence in the economy,” said Gary Morse, CREA’s President. “That said, local housing market trends often differ from national trends, so buyers and sellers should consult their local REALTOR® to understand how the housing market is shaping up where they live.”

Actual (not seasonally adjusted) activity came in 10.8 per cent above June 2010 levels, but this largely reflects falling sales activity last June. This was also the case for the year-over-year increase in activity in May. Year-over-year comparisons in July may also be stretched by falling activity one year ago, since July 2010 marked the low point for activity last year.

“The Canadian housing sector remains on a solid footing,” said Gregory Klump, CREA’s Chief Economist. “The rise in monthly home sales activity at the end of the second quarter, upbeat business sentiment and hiring intentions, and signs that the Bank of Canada is in no rush to raise interest rates bode well for home sales activity and prices going into the second half of 2011.”

National sales activity was down 4.7 per cent in the second quarter compared to levels in the first quarter. This in part reflects how new mortgage rules announced in January and implemented at the end of March pulled sales forward into the first quarter at the expense of sales activity in April and May. Mortgage interest rates also rose in April and May, which may have moved some home buyers to the sidelines.

A total of 245,170 homes have traded hands via Canadian MLS® Systems in the first half of 2011. Year-to-date sales activity is running in line with the ten-year average, with monthly sales activity having come close to the ten-year average from January to June this year (Chart A). This highlights the relative stability of demand this year compared to the past three years, when activity swung significantly above and below average monthly levels.

The number of newly listed homes also rose nationally by 1.8 per cent from May to June. Gains in Toronto, Vancouver, and Ottawa contributed most to the national increase. The rise in new listings will be especially welcome news for home buyers in Toronto, where listings have been in short supply relative to demand this year.

The national housing market remains firmly planted in balanced territory. The national sales-to-new listings ratio, a measure of market balance, stood at 52.6 per cent in June, little changed from 52.2 per cent in May.

About 60 per cent of local housing markets in Canada were balanced in June. Almost half of the remainder can be classified as sellers’ markets, based on a sales-to-new listings ratio above 60 per cent.

The seasonally adjusted number of months of inventory stood at six months at the end of June on a national basis, holding steady compared to May. The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and is another measure of the balance between housing supply and demand.

The national average price for homes sold in June 2011 was $372,700, up 8.7 per cent from the same month last year. The national average price is becoming less affected by the overall number of sales in some expensive Vancouver neighbourhoods, but is still being pitched higher by the value of those sales. Activity in these neighbourhoods has eased from levels reported in February and March, while sales elsewhere across Canada have risen in line with normal seasonal trends. As a result, property sales above $1 million in Vancouver West, West Vancouver, and Richmond now account for a smaller but still elevated share of national activity.

While the effect of Vancouver activity on the national average price has begun to wane, broadly based price gains in other housing markets are holding the national average price aloft. Close to 80 per cent of local markets posted year-over-year average price gains in June. This includes Toronto, where price gains reflect a tight balance between supply and demand.

PLEASE NOTE: The information contained in this news release combines both major market and national MLS®sales information from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighborhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® is a co-operative marketing system used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 100,000 REALTORS® working through more than 100 real estate Boards and Associations.

Further information can be found at :
http://www.crea.ca/public/news_stats/media.htm.

I'm Here to Help

Chuck Surette

Sales Representative

Coldwell Banker at Success Realty
519-777-4727
http://ChuckSurette.ca

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Tips for cost effective kitchen renovation

If you’re thinking of selling your home in the near future, investing in a few well-conceived improvements could pay you big dividends in terms of improving your resale value The big question is: where to spend your money?  Whether you’re selling in the near future or at some later date, your first consideration should be the value you place on the improvements while you’re continuing to live in the home. After taking that into consideration, there are several guidelines that can help you achieve the best return on your investment.  The kitchen is normally the focal point of any house.  It’s the high point of virtually every potential buyer’s walkthrough – male and female alike.  As such, improvements to this area are almost always a worthwhile investment. 

As a general rule, the more visible an improvement is, the better your chances for a good return on your investment.  For example, mentioning you have a new water heater or plumbing upgrade won’t have the powerful visual impact of a new kitchen counter top or tile backsplash -- even though they may cost the same.  Refacing your existing kitchen cabinets is a lower cost option than replacing all your cabinetry.  If you’re thinking of a major kitchen renovation, focus your energy – and your budget – on creating new work surfaces and improving function or traffic flow, rather than simply focusing on adding more floor space. 

For the more budget conscious, a fresh coat of paint is one of the least expensive improvements that can create a favourable first, and lasting impression on buyers.  In fact, dollar for dollar, a fresh coat of paint often delivers one of the best returns on your investment.  So, why stop with the walls?  Painting your kitchen cabinets and simply replacing your handles with updated hardware can revitalize the entire look of your kitchen and strengthen its visual appeal. 

Remember when choosing your colours that light colours can make a room appear larger, and neutral shades will be most appealing to the greatest number of potential buyers.  Another optical effect that will help create the illusion of more space is to install new flooring or backsplash tiles on the diagonal to draw the eye up and away on the longest line possible.

A new tap, and possibly even a new kitchen sink are also very affordable options to give your kitchen a quick and affordable ‘facelift’.

Lighting is also a very affordable way to improve the look and the function of your kitchen space.  For a very minimal investment, the new halogen light fixtures can illuminate your workspace while adding ambiance to your kitchen.   Small under the cabinet halogen pot lights take up little space, and can add a modern flair.

If you’re not sure what’s worth doing or where to start your kitchen reno, give me a call.  I would be glad to let you know what improvements will show well to prospective buyers in the future and where to find the best deals on reno supplies. 

I'm Here to Help,

Chuck Surette

Sales Representative

Coldwell Banker at Success Realty, Brokerage

Office-519-633-5570

Cell-519-777-4727

http://www.chucksurette.ca

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