Frank Steinhausen, Broker
FSteinhausen@REMAX.net
RE/MAX Rouge River Realty Ltd., Brokerage
Phone 905-428-6533
Fax 905-668-1850
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Archive for February, 2008
A Wish List for Buying a Home in Durham Region
February 22nd, 2008 Categories: Ajax, Buying real estate, Durham Region, Pickering, Pickering Village
While your opinions on the type of home you want to own may change during the home buying process, use this easy checklist to help you prioritize and make the shopping process less time consuming.
- How close do you need to be to: (a) public transportation _______ (b) schools _______ (e) expressway _______ (f) neighborhood shopping _______
(g) other_______? - What neighborhoods would you prefer?
- What school systems do you want to be near?
- What architectural style(s) of homes do you prefer?
- Do you want a one-story or two-story house?
- How old a home would you consider?
- How much repair or renovation would you be willing to do?
- Do you have special facilities or needs that your home must meet?
- Do you require a fenced yard or other amenities for your pets?
| Prioritize each of these options into |
Must have |
Would prefer |
| Yard (at least_________) |
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| Garage (size________) |
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| Patio/Deck |
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| Pool |
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| Bedrooms (number_________) |
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| Bathrooms (number_________) |
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| Family room |
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| Formal living room |
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| Formal dining room |
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| Eat-in kitchen |
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| Laundry room |
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| Basement |
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| Attic |
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| Fireplace |
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| Spa in bath |
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| Air conditioning |
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| Wall-to-wall carpet |
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| Hardwood floors |
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| View |
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| Light (windows) |
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| Shade |
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Toronto Real Estate Board Reports Sales Near 3,000 at Mid-month
February 21st, 2008 Categories: Ajax, Durham Region, Pickering Village, Real Estate News
February 20, 2008 — Resale home transactions in the Greater Toronto Area declined in the first two weeks of February, Toronto Real Estate Board President Maureen O’Neill announced today.
The first half of the month yielded 2,775 transactions, down 14 per cent from the 3,240 sales recorded in the same time frame last year. The moderation in sales was more pronounced within the City of Toronto–down 18 per cent to 1,066 from last February’s 1,308—than in the 905 suburbs, which saw transactions off 11 per cent.
“It’s important to recognize that the mid-month report provides an indication of market conditions based on a very brief period,” said Ms. O’Neill.
“However, we believe the harsh winter weather we’ve experienced in the early part of the month has had a negative impact on both sales and inventory levels. If you can’t get buyers out to your open house, then you are less inclined to list. And fewer listings means less appealing product for the potential home-buyer. It’s a compound effect.”
Although sales eased, several positive factors were also noted. At $385,735, the average price in the GTA rose seven per cent compared to $358,533 recorded in mid-February 2007. Within the City of Toronto, the average rose 11 per cent to $434,657, although pockets within the East end (Agincourt, for example) rose at the more affordable pace of around five per cent. As well, properties are remaining on the market fewer days.
The average number of days on market is currently 31 versus 35 days at the same time last year.
Furthermore, a few neighborhoods both within and outside of the 416 area code saw increased sales over the first half of February, 2007.
In Ajax (E14) sales were up 11 per cent compared to mid-February 2007, based mainly on an increase in detached home sales.
In the West region, the W3 (York South) district saw a 41 per cent increase in transactions, driven by strong sales of semi-detached homes.
Central Richmond Hill (N04) also experienced a notable increase in sales compared to the same time frame last year. Transactions were up 21 per cent, primarily due to an increase in attached row sales.
“We are optimistic that we will see a strong spring market because the economic fundamentals remain in place,” said Ms. O’Neill. “Prices are still particularly affordable in Toronto’s East end.”
Toronto REALTORS® are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service. Serving over 27,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.
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The Re-making of Pickering High School, Ajax
February 15th, 2008 Categories: Ajax, Area interest, Pickering Village
As I pulled into the Village Arena parking lot in Pickering Village, I wondered about the progress that is being made on the renovation of the Pickering High School. And, after a two-snow storm week and -22 with the wind chill, how the kids were feeling about trudging through the snow between portables.
According to the school and the press, the renovation are on schedule. The high school was built in 1951 and has been given $20 million for renovation, to accommodate the growing population of Ajax.
The new gym is set to open this month (February 2008) allowing for the demolition of the old gym. This piece-meal destruction and renovation means that the students can still attend classes, it just means that they have to hike over snow banks and dirt piles to do it.
Pickering High School currently is home to about 1700 students, and growing. Gifted and French immersion students from the Pickering and Ajax attend along with regular stream teenagers from the surrounding area.
Check out their web site for up-to-date information: Pickering High School Web site
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Happy Heart Day!
February 14th, 2008 Categories: Real Estate News
I would like to para-phase Ray Charles and say:
What is LOVE? It’s like electricity - we don’t really know what it is, but it’s a force that can light a room.
Hug someone you love today—and everyday!
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How To Clean Your Home in 19 Minutes Per Day
February 13th, 2008 Categories: Ajax, Area interest, Pickering Village
Real Simple magazine offers to timely advice for keeping your Ajax home clean so you can put your feet up on your coffee table instead of your dust bunnies:
With a plan of attack, you can maintain a sparkling house in just 19 minutes a day
These room-by-room to-do lists will help you get the work done quickly so you can put your feet up sooner rather than later.
Kitchen, 4 1/2 minutes daily
Always start with the sink. “Keep it empty and shining,” says Marla Cilley, author of Sink Reflections (Bantam, $15) and creator of www.FlyLady.net, a housekeeping website. A sparkling sink becomes your kitchen’s benchmark for hygiene and tidiness, inspiring you to load the dishwasher immediately and keep counters, refrigerator doors, and the stove top spick-and-span, too.
Bathroom, 2 minutes daily
Make cleaning the basin as routine as washing your hands. But don’t stop there. Get the most out of your premoistened wipe by using it to clean around the edges of the tub and then the toilet before tossing it.
Bedroom, 6 1/2 minutes daily
Make your bed right before or after your morning shower. A neat bed with inspire you to deal with other messes immediately. Although smoothing sheets and plumping pillows might not seen like a high priority as you’re rushing to work, the payoff comes at the end of the day, when you slip back under the unruffled covers.
Family Room, Living Room, Foyer, 6 minutes daily
Start with the sofa — as long as it’s in disarray, your living room will never look tidy. Once you’ve fluffed the pillows and folded the throws, you’re halfway home. If you pop in a CD while you dust, you should be able cover the whole room by the end of the third track.
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Real Estate Affordability to Improve, Experts Say: A National Outlook
February 12th, 2008 Categories: Buying real estate, Real Estate News, Selling real estate
http://www.financialpost.com/story.html?id=301439
Housing affordability is likely to improve this year as house price growth eases and falling interest rates make mortgages cheaper, economists say.
Michael Gregory, senior economist at BMO Capital Markets said housing affordability was becoming an increasingly important issue in some Canadian cities, with house prices jumping at “unsustainable” levels amid a surge in population-driven demand, a strong jobs market and relatively low mortgage costs.
In Saskatoon, the cost of a new house skyrocketed an amazing 45.1% in 2007, while prices were up 25.9% in Regina and 21.5% in Edmonton, Statistics Canada figures showed Monday.
Prices were up 4.1% in Montreal, 6.4% in Vancouver, 6% in Calgary and 3.4% in Toronto and Oshawa over the year.
Nationally, new house prices rose a healthy 6.2% last year, but were down considerably from the 12.1% annualized pace posted in August as supply closed in on demand.
While new home prices should remain strong in 2008, the pace of growth will continue to moderate to about 2% to 3%, Mr. Gregory said.
The slower pace of growth is already evident in the market, with new home prices rising only 0.1% in December, well below the average monthly increase of 0.5% in 2007.
“The key thing is the last few months have been quite subdued in terms of the monthly increases, at least the trend has been, and if that continues, we’ll probably have subdued home price inflation going forward,” Mr. Gregory said.
“The market has a way of cooling itself. Alberta had just got so expensive that people stopped moving there. Eventually supply catches up to demand, and that’s what happened in Calgary,” he said.
He said existing home prices, due Friday, should also show signs of easing, with both segments of the market slowing further in 2009.
Rishi Sondhi, economist at RBC Capital Markets said housing should become more affordable as house price gains ease and interest rates fall, with the Bank of Canada expected to cut interest rates again in March following a 25 basis point cut to 4% in January.
Some economists expect rates to reach as low as 3% by mid-year.
Mr. Sondhi said the moderation in house price growth was placing less pressure on inflation, leaving the door open for the Bank of Canada to cut interest rates to prevent a significant economic slowdown.
Larry Stewart, broker and owner of RE/MAX Saskatoon said the sharp rise in the city’s house prices in 2007 was driving more people, particularly first home buyers, into cheaper high-density living, such as condominiums.
“That’s filling the gap for the new home buyer that can’t afford to get into the market with increased house prices,” Mr. Stewart said, adding that prices in Saskatoon would likely rise a further 20% in 2008.
However, Mr. Stewart said aggressive competition between mortgage companies was helping younger people to get into the market, offering for example loans equal to 100% of the value of a home.
Condo sales have been surging across Canada, particularly in high density city areas such as Toronto, where condo sales accounted for 52% of total new home sales in 2007, according to figures from N. Barry Lyon Consultants and RealNet Canada.
Financial Post
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The Right Price Can Overcome Most Buyer Objections…But Not All
February 12th, 2008 Categories: Area interest
I had to share this great video that a found from my colleague, Perri Feldman of NJ Real Estate Wire:
Just for fun…
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Eagle Ridge Real Estate Market in Pickering Village Shows Some Life: Market Update for January
February 8th, 2008 Categories: Ajax, Buying real estate, Durham Region, Pickering Village, Real Estate News, Selling real estate
In general, I will tell my clients that the weather sometimes will affect the
market, particularly in the winter when looking at houses means trudging through snow banks and slush. The weather seemed a little confused in January. Maybe the home buyers were too.
There were 6 sales in the Eagle Ridge area of Pickering Village. The detached 4 bedroom homes sold for a median price of $445,000.
Home sellers can sit back with their hot chocolate. This high demand area has great opportunities for buyers and sellers to move up this year.
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Ajax Most Active City in West Durham Region: Market Update for January
February 8th, 2008 Categories: Ajax, Buying real estate, Durham Region, Real Estate News, Selling real estate
The weather didn’t keep Ajax buyers indoors for January. Ajax reported a 
more active January than December 2007. Pickering had the reverse market (a more active December).
There were 286 new listings put on the market, adding to the 67 already there making 353 homes available for buyers. And 111 of them were snapped up with an average days on the market of 37 (which means some of those December listings sold). The average price was $298,752 which holds steady to the December average price of $298,908.
Although homes aren’t running off the shelves, a steady January is a good sign that the market is still healthy for 2008. We will have to wait and see.
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No records Broken in North Pickering: Market Update for January
February 8th, 2008 Categories: Buying real estate, Durham Region, Pickering, Real Estate News, Selling real estate
North of the 401 in Pickering showed more activity than the South (it is a bigger district), but the activity was nothing to write home about.
Only 55 of the 211 active listings sold in January, a hair over one quarter, in all of north Pickering. The median price was $283,000.
The median price for all of 2007 was $290,000, and for December 2007 is was $284,750. With not much to compare it to, and mother nature hitting Durham Region hard so far this year, we will be waiting for cabin fever to hit to get things moving.
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