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Durham Region Real Estate Deja-Vu
Here is my recollection of the timeline we saw with Real Estate sales over the past few years. In 2017 we saw a drop in values after our Provincial Government implemented a foreign buyer tax. The reaction to the market was swift and brutal. From April until July 2017, values plummeted 25% in Oshawa alone.…
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Euphoria, Panic and Hope. Durham Real Estate in 2023.
Most people know what the 5 stages of grief are: Denial, anger, bargaining, depression, and acceptance. In real estate cycles there are also a set of emotions people experience during the ups and downs. Here is what the stages might look like. When it comes to Real Estate cycles there are a few parts of…
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Considering Selling your Property?
Here is a New Year Resolutions breakdown list that might help with a sold sign. The new year rolls around every year about this time and as the champagne is sipped and the words flow it is common for people to announce new year resolutions. Some choose to lose weight, others quit smoking, change their food choices, get fit and…
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What can we expect for the Durham Real Estate Housing Market in 2023
Scrolling through predictions about the coming year the “experts” seem to be contradicting themselves. ” Toronto’s housing prices will likely climb even more in 2023.” “Steep price declines will restore sanity to Canada’s housing market in 2023.” Or still, “Canada Housing and Mortgage Corporation believes the national average home price in Canada will decrease by 14.3%.”…
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Immigration, Inflation and Real Estate Cycles
Looking back to the late 1980s and some of the leaders in Real Estate I admired, one man constantly comes up. Guy Leblanc. Picture a chubby, bald, middle-aged man who wore a white suit and drove a white Cadillac. You get the picture. However, he was very wise. What I learned from him can be illustrated…
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House prices are coming down, why are rents going up?
Housing prices have declined since February 2022 but guess what? The price of renting a home or apartment has jumped similar to how the values of homes increased during the pandemic. To help clarify why rents have risen it helps to look as an investor does when considering buying a property to offer as a rental. The average price…
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Where the Real Estate Market in Durham Region was 2 years ago
Think back to September 2020…. Lockdowns, masks, hand sanitizers, restaurants doing take out and delivery with no indoor dining. It was a crazy time and thank goodness we are past the restrictions and the fear of the pandemic. Another crazy part of the pandemic is what happened to Real Estate in Durham region over the past 24 months. When our…
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Fence-Sitting? Time to Jump
Rates are up. Inflation is up. Uncertainty is up. Why would anyone consider buying now? This could be the best opportunity for a Buyer in the past year to buy a home. Let’s dig in and find out why. In February, the average home in Durham was selling for $1,209,000 and as of the end…
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A Tale of Four Houses
It was American Thanksgiving, and I was in Phoenix doing my best to enjoy a turkey dinner whilst recovering from emergency dental surgery. In-between bites, I ended up selling a home in east Oshawa. The Sellers ended up settling a good price which helped them move to a rental and enjoy the equity their home…
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The Durham Real Estate Market is Tanking
Did I grab your attention with that headline? Headlines exist to cause a reaction, and over the past few weeks I have had 2 experiences with Agents offering on homes I had on the market for sale, where the Agent narrative mirrored was being shared in the media. The first, was with a property I…
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