Pre made houses could SERIOUSLY help the housing crisis
So the NEED for more homes in Canada is still huge and there is a major shortgage of people to do the work in building these homes. Houses being pre made in factories (or at least a LOT of the parts) could seriously help in fast tracking homes being built, and could be much less expensive! Matti Siemiatycki, director of the infrastructure institute at the University of Toronto has got it right. These "prefabricated homes" could play a key role in providing a solution to Canada's housing shortage crisis, along with the growing popularity of tiny homes and other more affordable housing options.
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NOW is the turning point for Real Estate - Royal LePage Report
A new Royal LePage Canadian Market Survey Forecast indicates that after this first quarter of 2023, the downslide in the value of home prices in Canada will stop going down and start going up again. In most big cities, condos are expected to go up in price the most. The primary reasons given for this being the turning point for the price corrections is the long term housing supply shortage that is still a problem, and demand from buyers that have been able to buy a new home, and want to buy a new home, but have been sitting on the sidelines waiting to see what happens with the market.
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Great Last Minute Gift Idea! :)
Yes, getting a great gift for many people over the holidays can be really tough. Maybe they don’t need more THINGS, and maybe they have specific style & size preferences. Well maybe this could be a great idea! You could give them the gift of the City of Lonodn’s recreation gift card? You can get one (or many!) to cover programs at community centres, pools, Storybook Gardens and more! See the list of activities & Programs available and where to get a gift card below…
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Canada's Housing Prices by Region Since February, 2022
Some areas of Canada have had housing prices RISE since February, 2022! Below is an infographic showing across Canada, how homes have gone up or down in price this year. Many Ontarians think the recent big decline in home values has been an cross Canada phenomon, but see below where prices have gone up on average by $33,000!
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New Anti-Flipping Houses Tax January 1st
In case you didn't know...
If you or anyone you know is planning on flipping a house next year or beyond in Canada, the government has scheduled a new Anti-Flipping tax to take effect January 1st.
GOV's DEFINITION OF A FLIP:
They have described this as “purchasing real estate with the intention of reselling the property in a short period of time to realize a profit.”
WHAT DOES THIS TAX MEAN?:
Essentially, under the new tax law, anyone who sells a property which they owned for less than 12 months (specifically, 365 consecutive days) will be considered to have “flipped” the house and any profits from the deal will be taxed as business income.
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Property Home Staging During The Holidays
For those that need to sell their home during the holidays, the question inevitably comes up about holiday decorating. Getting festive is a good idea, just don't overdo it & it's best to go with non-denominational items like Wreaths and candles. Curb appeal is super important. Some buyers won't even go in a a house based on what they see from the outside. Don't go crazy! Simple clear string lights are a good idea. For inside, as Red Barrinuevo from HGTV's "Hot Market" says “At the end of the day, you are selling space regardless of what’s inside ... you want it to look bigger, not smaller.” Go with a skinnier tree to make a room look bigger.
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Some highlights from McLean's Real Estate Outlook for 2023
According to a recent McLean's article, Desjardin and TD don't think the home prices will go down much further and values will stay more expensive than pre-covid. One thing they mentioned that I have been eluding to over the past 6 months is that massive Canadian immigration will put pressure on supply. All signs point to this in turn increasing demand and having prices rise again. When that will be, no one knows for sure. The article also suggests that rent will continue to rise, pointing out that the number of renters across the country is growing faster than owners.
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The cheapest House in London is REALLY NOT BAD!
As of posting this, the cheapest house in London is at 552 Nelson Street listed at $299,900 and you would think it looks really rough, but not at all! It has updated finishes, a metal roof, parking for 2 and a large storage shed!
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Christmas Decor Trends!
House Beautiful just came out with 11 Christmas decore ideas to get you in the holiday spirit with a minimalist perspective, keeping things festive, but low-key, fresh and clean.
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Experts Predictions On Next Interest Rate Announcement
That last Bank Of Canada interest rate announcement of 2022 is this Wednesday and experts are chiming in on what they think happen, and most are suggesting it will be another increase of either 25 or 50 points.
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The Magic of Light Are Back!
The Longwoods Road Conservation Area is back again with a 1.8km drive through holiday lights display and with proceeds to the United Way of Elgin Middlesex!
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Canadian Billionaire places HUGE bet on Canada's real estate market rebounding
Canadian Billionnaire Stephen Smith with the Smith Financial Corp is taking a huge bet that the Canadian real estate market downturn is done. He's saying the main reasons why are a shortage supply of homes available in Canada, and high immigration levels increasing demand over the next few years.
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Did you know there'll be a HUGE new Costco in South London?
It's surprising how many people don't know that a massive 160,000 sq ft new Costco will be opening to the public as early as spring 2023! It's very close to the current South Costco that is running, but will be 40,000 sq ft bigger. The gas station with 26 pumps just opened!!
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Lighting of the Lights Fri Dec 2nd!
If you haven't taken in the "Lighting of the Lights" in Downtown London, you really should! Friday, December 2nd they'll be flipping the switch to turn on over 75,000 Christmas lights at Victoria Park at 6:50!
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Top Buyers & Sellers Markets In Ontario Right Now
So a report just came out of the top places in ontario where it’s a Buyer’s Market, and the buyers have the most homes to choose from and are negotiating prices lower more often, vs the top Seller’s Markets, where Sellers’ are more in charge with fewer homes on the market and more buyers, keeping prices more steady and some rising in value. Check them out!:
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See Connor McDavid's House!
Architectural Digest got a tour of Connor McDavid’s house in Edmonton and it’s a contemporary work of art! Check it out!
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The Toughest Challenge In Buying A Home In London, Ontario Right Now
In London, the toughest challenge in buying a property here right now is knowing what they're worth. With competing offers being the norm, you don't want to pay too much, and you don't want to offer too little so you don't end up buying what could be really good for you.
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Elon Musk Explains Why You Should Work With Us
Elon Musk explains why you should work with the Leishman Team in London, Ontario to buy / sell property.
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The Good & Bad Of Buying A Property Near Fanshawe College
So you’re looking a buying a home near Fanshawe College. Here is the good and the bad about purchasing in this area.
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See the London home that sold $600,000 over the asking price!
This is not the norm! A home in London was listed recently at $799,900 and sold for $1,398,000! It was listed quite low considering these factors though…
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