General Info • December 22, 2023

The Pros and Cons of Listing Your Home for Sale in Winter: A Guide for Ontario Residents

by Gerald Lawrence

In the dynamic real estate market of Ontario, Canada, deciding when to list your home for sale is a crucial decision. While many homeowners prefer the warmer months for the selling process, listing your property in winter comes with its own set of advantages and disadvantages. In this blog, we’ll explore both sides to help you make an informed decision.

Advantages of Winter Listings:

Less Competition Because Of Fewer Listings:
One significant advantage of listing your home in winter is the reduced competition. With fewer sellers on the market, your property may stand out more, attracting serious buyers looking to make a purchase despite the season.
Motivated Buyers Who Are More Serious:
Winter buyers are often more motivated. Whether due to job relocations, changes in family dynamics, or other factors, those looking for homes in winter are generally serious about making a purchase. This could lead to a quicker and smoother selling process.
Cozy Atmosphere and Warm Ambience:
Winter provides an opportunity to showcase the cozy and inviting aspects of your home. A well-heated, well-lit home can create a warm atmosphere that resonates with potential buyers during chilly weather.

Disadvantages of Winter Listings:

Weather Challenges:
Ontario winters can be harsh, with snow, ice, and cold temperatures. This can make it challenging for potential buyers to visit your property, leading to fewer showings. Additionally, weather-related issues may affect the overall market activity.

However, this may not be as much a disadvantage since I use 3D Interactive Virtual Tours. In the competitive real estate market, a 3D Interactive Virtual Tour emerges as a powerful tool for sellers in Ontario, Canada, seeking to showcase their homes with unparalleled detail. This cutting-edge technology allows potential buyers to virtually navigate through every room, providing a realistic and immersive experience from the comfort of their own homes. Sellers benefit by thoroughly presenting their properties, highlighting unique features and intricate details that might be overlooked in traditional photographs. This interactive approach not only captures the attention of prospective buyers but also saves time by attracting individuals genuinely interested in the property’s layout and design. By offering a virtual walkthrough, sellers can effectively convey the true essence of their homes, fostering a stronger connection with potential buyers and increasing the likelihood of a successful sale.
Curb Appeal:
Winter landscapes may not showcase your property’s exterior as well as during the warmer months. Snow and ice can cover landscaping elements, making it harder for buyers to visualize the full potential of the outdoor space. As a seasoned Realtor®, I address this challenge by proactively scheduling professional photography and/or videos during the summer months whenever feasible. Moreover, I curate summer photos from homeowners’ family members and employ digital editing techniques to eliminate any individuals or pets from the visuals. Additionally, I leverage aerial photography resources available to Realtors, enhancing the overall visual presentation of the property. This meticulous approach ensures that the marketing materials accurately reflect the property’s features and appeal, providing potential buyers with a compelling and unobstructed view of the home.
Holiday Distractions:
The winter season is often filled with holidays and festivities, which can distract potential buyers. Schedules may be busier, and some individuals might postpone their home-buying decisions until after the holidays. While the statement holds validity, we believe that stunning holiday decorations can elevate the overall aesthetic of a space, offering potential buyers insights into how they might personally decorate the home. Despite the bustling nature of the holiday season for many individuals, it serves as a unique time for some families to explore properties collectively. This period may be one of the few instances in the year when families can thoroughly consider and decide on a property together, benefiting from the fact that they may have more time off from work than usual, facilitating joint decision-making with everyone’s input.

Conclusion:

Deciding when to list your home for sale in Ontario involves weighing the pros and cons of each season. While winter may present challenges, it also offers unique advantages, such as less competition and motivated buyers. Consider your specific circumstances, the condition of your home, and your target market to determine the best time to embark on the selling journey. Consulting with a professional REALTOR® like myself, I can provide valuable insights tailored to your situation. If you plan to list your home in the Spring instead, please check out my blog on what to do in the winter to prepare for listing your home in the Spring.

The real estate market inside scoop for the community you love. See homes that are for sale and have recently sold. Find out if home sales in your neighbourhood are trending up or down. See what homes around you are currently selling for.

Home Sweet Home Under 400K: Find Your Ideal Property Today!

by Gerald Lawrence

December 13, 2023

New Listing in Oshawa

by Gerald Lawrence

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September 6, 2023

NO RATE CHANGE! But Still a Chance For Increase Next Time!

by Gerald Lawrence

Bank of Canada maintains policy rate, continues quantitative tightening

FOR IMMEDIATE RELEASE

Media Relations

Ottawa, Ontario

September 6, 2023

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening.

Inflation in advanced economies has continued to come down, but with measures of core inflation still elevated, major central banks remain focused on restoring price stability. Global growth slowed in the second quarter of 2023, largely reflecting a significant deceleration in China. With ongoing weakness in the property sector undermining confidence, growth prospects in China have diminished. In the United States, growth was stronger than expected, led by robust consumer spending. In Europe, strength in the service sector supported growth, offsetting an ongoing contraction in manufacturing. Global bond yields have risen, reflecting higher real interest rates, and international oil prices are higher than was assumed in the July Monetary Policy Report (MPR).

The Canadian economy has entered a period of weaker growth, which is needed to relieve price pressures. Economic growth slowed sharply in the second quarter of 2023, with output contracting by 0.2% at an annualized rate. This reflected a marked weakening in consumption growth and a decline in housing activity, as well as the impact of wildfires in many regions of the country. Household credit growth slowed as the impact of higher rates restrained spending among a wider range of borrowers. Final domestic demand grew by 1% in the second quarter, supported by government spending and a boost to business investment. The tightness in the labour market has continued to ease gradually. However, wage growth has remained around 4% to 5%.

Recent CPI data indicate that inflationary pressures remain broad-based. After easing to 2.8% in June, CPI inflation moved up to 3.3% in July, averaging close to 3% in line with the Bank’s projection. With the recent increase in gasoline prices, CPI inflation is expected to be higher in the near term before easing again. Year-over-year and three-month measures of core inflation are now both running at about 3.5%, indicating there has been little recent downward momentum in underlying inflation. The longer high inflation persists, the greater the risk that elevated inflation becomes entrenched, making it more difficult to restore price stability.

With recent evidence that excess demand in the economy is easing, and given the lagged effects of monetary policy, Governing Council decided to hold the policy interest rate at 5% and continue to normalize the Bank’s balance sheet. However, Governing Council remains concerned about the persistence of underlying inflationary pressures, and is prepared to increase the policy interest rate further if needed. Governing Council will continue to assess the dynamics of core inflation and the outlook for CPI inflation. In particular, we will be evaluating whether the evolution of excess demand, inflation expectations, wage growth and corporate pricing behavior are consistent with achieving the 2% inflation target. The Bank remains resolute in its commitment to restoring price stability for Canadians.

Information note

The next scheduled date for announcing the overnight rate target is October 25, 2023. The Bank will publish its next full outlook for the economy and inflation, including risks to the projection, in the Monetary Policy Report at the same time.

Content Type(s): Press, Press releases

August 23, 2023

August 2023 VIP GiveAway

by Gerald Lawrence

If you have already entered this contest, free to get a FREE Home Evaluation in 10 Seconds with No HASSLE!

August 2023 VIP Club Giveaway

a VIP Gift Card

Uncategorized • August 18, 2023

Gift Card Give Away – August 2023 VIP Club

by Gerald Lawrence

Are you already in back to school mode? Make sure to enter this month’s contest to win a VIP Card, it will definitely help with your back-to-school shopping. Use this card to go to any places you wish for your end-of-summer shopping needs!

August 5, 2023

Happy Long Weekend

by Gerald Lawrence

August 4, 2023

Interesting Change: See the July 2023 Real Estate Statistics for the Greater Toronto Area & Beyond!

by Gerald Lawrence

GTA home sales, new listings, and home prices were up in July 2023 when compared to the same time last year.

If you are interested to know how much your home is worth, enter the basic details by clicking this link and I’ll get a No-Obligation FREE Home Evaluation!

Property Update • July 29, 2023

Discover Your Dream Home in Oshawa, Ontario: A Kassigner Gem

by Gerald Lawrence

Oshawa, Ontario – Nestled within the welcoming community of Oshawa, a hidden gem awaits, offering the perfect blend of comfort, convenience, and elegance. Introducing a superb Kassigner-built home that exudes charm and function, providing an idyllic family home for you and your loved ones.

A Perfect Family-Oriented Location

Located in a fantastic family-oriented area, this property boasts a prime location, making it a top choice for families seeking a warm and friendly neighborhood. With proximity to five top-notch schools, parents can rest assured their children will receive an excellent education.

Nature’s Playground at Your Doorstep

Nature lovers will rejoice in the abundance of green spaces nearby. Just a mere 5-minute stroll will lead you to three picturesque parks, offering endless opportunities for outdoor activities and quality family time. For more play options, you’ll find four inviting playgrounds and two expansive sports fields within a pleasant 20-minute walk.

Convenience at Your Fingertips

For those with a daily commute, the property’s unbeatable convenience comes to light. A transit stop is just 4 minutes away, providing easy access to public transportation options.

Exquisite Interior and Generous Spaces

Step inside to be greeted by stunning hardwood and tile floors on the main level, creating a warm and inviting ambiance. The second level showcases elegant parquet flooring, adding a classic touch to every room.

The home boasts four spacious bedrooms, offering ample space for your family’s comfort. Additionally, an unfinished fifth bedroom in the basement provides exciting possibilities for customizing your living space. With three total bathrooms, including one with a rough-in for an additional shower, there is tremendous potential for expanding your home to suit your needs.

A Garage Fit for Your Needs

No need to worry about parking space – the high and deep garage is perfect for accommodating your large vehicle, complete with a soaring 9ft header for extra height.

Your Private Oasis Awaits

Step outside to your own private oasis, a fully fenced backyard providing the perfect sanctuary for relaxation, entertaining friends, and creating cherished family memories.

Welcome Home

Don’t miss this incredible opportunity to call this beautiful property your forever home. Contact us today for more information and to schedule your private tour of this fantastic Kassigner gem.

Oshawa, Ontario offers the perfect blend of city amenities and a welcoming community, making it the ideal place to call home. Take the first step towards your dream life by discovering the charm and elegance of this superb Kassigner-built residence.

Disclaimer: This property is currently listed for $799,900. (Listing ID: E6701622)

Coldwell Banker R.M.R. Real Estate, Brokerage is a leading real estate agency in Durham Region, dedicated to helping you find your dream home. For inquiries and to book a viewing, please contact Gerald Lawrence at 416-556-0238.

Disclaimer: The above blog is for informational purposes only and is not a formal real estate listing. Prices and availability are subject to change. Please verify all information with the respective real estate agent.

Market Update • July 12, 2023

Bank Of Canada Raises Overnight Interest Rates Again! – They are not done yet!

by Gerald Lawrence

Bank of Canada raises policy rate 25 basis points, continues quantitative tightening

FOR IMMEDIATE RELEASE

Media Relations

Ottawa, Ontario

July 12, 2023

The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening.

Global inflation is easing, with lower energy prices and a decline in goods price inflation. However, robust demand and tight labour markets are causing persistent inflationary pressures in services. Economic growth has been stronger than expected, especially in the United States, where consumer and business spending has been surprisingly resilient. After a surge in early 2023, China’s economic growth is softening, with slowing exports and ongoing weakness in its property sector. Growth in the euro area is effectively stalled: while the service sector continues to grow, manufacturing is contracting. Global financial conditions have tightened, with bond yields up in North America and Europe as major central banks signal further interest rate increases may be needed to combat inflation.

The Bank’s July Monetary Policy Report (MPR) projects the global economy will grow by around 2.8% this year and 2.4% in 2024, followed by 2.7% growth in 2025.

Canada’s economy has been stronger than expected, with more momentum in demand. Consumption growth has been surprisingly strong at 5.8% in the first quarter. While the Bank expects consumer spending to slow in response to the cumulative increase in interest rates, recent retail trade and other data suggest more persistent excess demand in the economy. In addition, the housing market has seen some pickup. New construction and real estate listings are lagging demand, which is adding pressure to prices. In the labour market, there are signs of more availability of workers, but conditions remain tight, and wage growth has been around 4-5%. Strong population growth from immigration is adding both demand and supply to the economy: newcomers are helping to ease the shortage of workers while also boosting consumer spending and adding to demand for housing.

As higher interest rates continue to work their way through the economy, the Bank expects economic growth to slow, averaging around 1% through the second half of this year and the first half of next year. This implies real GDP growth of 1.8% in 2023 and 1.2% in 2024. The economy will move into modest excess supply early next year before growth picks up to 2.4% in 2025.

Inflation in Canada eased to 3.4% in May, a substantial and welcome drop from its peak of 8.1% last summer. While CPI inflation has come down largely as expected so far this year, the downward momentum has come more from lower energy prices, and less from easing underlying inflation. With the large price increases of last year out of the annual data, there will be less near-term downward momentum in CPI inflation. Moreover, with three-month rates of core inflation running around 3½-4% since last September, underlying price pressures appear to be more persistent than anticipated. This is reinforced by the Bank’s business surveys, which find businesses are still increasing their prices more frequently than normal.

In the July MPR projection, CPI inflation is forecast to hover around 3% for the next year before gradually declining to 2% in the middle of 2025. This is a slower return to target than was forecast in the January and April projections. Governing Council remains concerned that progress towards the 2% target could stall, jeopardizing the return to price stability.

In light of the accumulation of evidence that excess demand and elevated core inflation are both proving more persistent, and taking into account its revised outlook for economic activity and inflation, Governing Council decided to increase the policy interest rate to 5%. Quantitative tightening is complementing the restrictive stance of monetary policy and normalizing the Bank’s balance sheet. Governing Council will continue to assess the dynamics of core inflation and the outlook for CPI inflation. In particular, we will be evaluating whether the evolution of excess demand, inflation expectations, wage growth and corporate pricing behaviour are consistent with achieving the 2% inflation target. The Bank remains resolute in its commitment to restoring price stability for Canadians.

Information note
The next scheduled date for announcing the overnight rate target is September 6, 2023. The Bank will publish its next full outlook for the economy and inflation, including risks to the projection, in the Monetary Policy Report on October 25, 2023.