Oakville Ontario News, Articles and Reviews

In this time of a very busy Real Estate Market the question of an older home versus a newer home can be foremost in the mind of many Buyers. The Spring Market, February and March, is traditionally the busiest Real Estate season. Historically low interest rates continue and are providing a solid foundation for our housing market. It is a perfect combination of housing values and home financing options that can include money for renovations.

Older homes have their special charm with their location, larger lots, their style and often their affordability. Many of these homes have been lovingly upgraded and feature the open concepts of newer homes. Life style is a choice and for avid gardeners and for those who enjoy the feeling of space, these properties excel. With the influx of trades people who are happy to do the yard work, older homes have great appeal.

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The month of March has a tendency to bring up thoughts of warmer weather as families head South for some fun in the sun. If you happen to be thinking about a vacation home investment, then you might want to consider Florida!

Not only have Snowbirds been buying up Florida real estate for their own enjoyment, but their younger friends and counterparts are among the growing numbers of Canadian investors snapping up deeply discounted vacation homes with the intention of renting them out until they retire. These are people, known as “endvestors,” are planning ahead, and planning well!

“Endvestors” understand that if they don’t purchase now there is a chance they might not be able to afford a second home when the time comes to enjoy their retirement in a warmer climate. That being said, Florida is an ideal destination due to its accessibility by car, a bonus for those who prefer not to fly.

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Seasonal factors play an important role in selling a property, but there are other things to consider as well, such as supply and demand and the uniqueness of the local market conditions. No matter when a home goes to market, one should take a few things into consideration that might affect not just the ability to sell the home, but the ability to get the highest price for the home. Timing is everything!

Buyers are increasingly affected by our seasons and that affects their attitude as to when they purchase their home. In Ontario, we enjoy four distinct and beautiful seasons and these changing seasons play a large part in creating good buying conditions.

Winter brings a series of challenges, weather, holiday distractions resulting in a lack of interest from buyers. But do not despair, the reality of the “Spring Market” is really in February and March. According to data; home sales begin in February, with closings peaking through late May, June, July and into August as families settle down for the summer months and prepare children for the new school year. This trend has been consistent since early 2000.

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Residential real estate in Canada outperformed expectations this past year, posting another solid year of housing activity across the board while surprising everyone! This trend, expected to continue next year as Canadians continue to demonstrate faith in home ownership, continues despite wide spread concerns over the European debt crisis and its impact on the global economy. According to a report released by Re/Max, “The housing market has demonstrated tremendous resilience in recent years, but 2011 stands out” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “Instead of responding to economic concerns both here and abroad with a retreat in sales and prices, residential real estate markets actually experienced an upswing in the volatile third and final quarters of this year. While clearly not impervious to the impact, Canadian consumers are intent on making their moves now, in advance of higher housing values and rising interest rates down the road.”

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