T'is The Season!

As I sit over the past 3 weeks, writing my Christmas cards to clients, colleagues, family and friends, I reminisce as I see each person's name....I wonder how they like the cottage? Are they enjoying their new home? What do they think of the town?  I really enjoy this time and it always gives me a comforting feeling, a feeling of thankfulness, because I get to meet the greatest people! As much as I assist my clients, they always teach me a thing or two! Learning about their jobs, their lives, their cultures....this is why I love real estate!

It never gets tiring. My grandfather used to tell me, what seemed like daily, "if you are not learning something new every day, you have wasted it". He was right, and I have kept this philosophy with me throughout my career. I hope I am doing him proud.

This annual time of reflection is very healthy and helps me to realize what a great career I have. Thank you everyone who I have had the honour to cross paths with, and who have had a hand at enriching my life.

So we start another year - more new clients, new friends, new adventures, new happy endings. Being proud and excited about the area that you represent doesn't hurt either!
To everyone I wish you a wonderful holiday season and a fabulous 2015!

2014 - Steady and Healthy

Another real estate year is almost complete. The market is settling down with distractions such as Hunting Season arriving, and people needing to close up, clean up and secure homes and cottages for winter. For me personally, this was a banner year in real estate in the Highlands as I continue to grow my business, but let's talk about what YOU are interested in! How was the market in general, in the Highlands?
Firstly, PLEASE be careful about what media says about the real estate market. Fear-mongering is big business, people actually benefit from providing scary reports. It is important to speak to someone in the vicinity of where you are selling or planning to purchase. Every region, community, lake, price range, has it's own market. What is happening in Toronto or Vancouver has no bearing on what is happening in a small town, or Central or Northern Ontario.
Even each Cottage Country has a different market (such as The Kawarthas, The Highlands, or Muskoka). Your price range also has a huge impact on market trends. Where is the bulk of buyers for a cottage - $250,000 to $300,000? $400,000 to $500,000?
So down to business - The Highlands! 2011 and 2012 were not the best. Media was reporting tough times, and Buyers came looking for deals. Sellers were not willing to drop their prices, therefore many deals were written, but not that many came together. Last year our market settled down. Prices were not gaining, they were staying steady. This is good news for both the Buyer and the Seller - a balanced market. This year it looks like there will be some small gains in values, but nothing to make Buyers nervous. This again results in lots of sales.
In May 2014 our board saw 1,423 listings on the market, the highest number in the past 3 years, with the most sales happening in August - 511. This is a slight increase from 2013 with 505 sales in August, and a bigger increase from August 2012 of 426. Since May of 2014, each month's statistics show increased sales and listings from the previous year. It is a healthy market!
If a property is priced correctly - it will sell. That's the bottom line!
The Highlands offers a variety of recreational options, from the first-time cottager looking for something on a back road, or close to lake, under $100,000, to direct waterfront at every price range. Our luxury market continues to grow each year, with cottages on the market at $800,000 to $2-3 million.
Thinking of moving to the Highlands? The Residential market, too, is on the rise. Minden and Haliburton are both seeing growth. Minden just received a Dairy Queen, last year received a Canadian Tire, and there are rumours of more. Haliburton just got a Tim Horton's (yes - I said it -- and you thought everyone already had one!). The social groups, activities and culture of the area is very strong. Buyers are looking for that combination of wanting to simplify their life, reduce their expenses, and still have convenience. Of course, growth in residential properties means growth in business....everyone wins!
Can't wait to see what 2015 brings!

Fractional Ownership Cottages

I currently have two fractional ownership cottages for sale, and Buyers often ask why someone would purchase one......so here it is. Firstly, Fractional Ownership is partial ownership in a cottage, usually through a company, whereby you have true ownership in a fraction of the cottage. The two that I have for sale are 1/10th ownership. Similar to timeshares, a term most people are familiar with.
This ownership is true ownership in every sense of the word - you may leave it in your will to someone else, you may sell it, you may rent out your time, or swap with other members of the same group for other properties in different areas. It is incredibly flexible. Each owner gets 5 weeks per year of use. One week never changes - a set week each summer that you can count on for your holidays. You then get one week for each season - Fall, Winter, Spring, and an additional "floating" week. Each of the 10 owners rotate in who choses first their weeks of choice. Buy two shares in the same cottage and have 10 weeks per year!
The best part of fractional ownership is that many Sellers today tell me they aren't using their cottage as much as they would like to. They feel that for the investment, they should be using the cottage more, but they have busy lives ....kids in sports, or with summer jobs, other obligations. Fractional ownership takes that guilt away. You don't have to come every weekend, and then cut the grass, tend to the gardens, and do repairs. All maintenance is looked after in a fractional ownership situation. There is an annual maintenance fee, but there is no cleaning, no road/driveway maintenance and clearing, no property taxes. Arrive, enjoy, leave! Fun at the lake without all the obligations : )

Myths Busted

There is a disturbing trend in real estate these days. The ability of people to google, check mls, zoom on Google Earth has empowered Buyers ....mostly in a good way! Buyers are educated, they know what they can get for their money, they can check the neighbourhood and search out statistics. All good.
What it has caused though is a sense of "I know the market", "I watch mls", "I will just work with the listing agent". Here are some points to keep in mind:
1. Knowing what is for sale does not tell you what a property ultimate sold for - there is often a big gap! Therefore a Buyer can easily overpay;
2. What you see on the internet is often deceiving. Good photos can make a property look incredible, and not show the drawbacks. Equally so, and more importantly.....bad photos can have you overlook the perfect property, extending your search time;
3. MLS does not provide a good feel for different areas. A property in the Haliburton Highlands compared to a property in Muskoka or The Kawarthas are not all equal. Your Realtor can explain why there are differences and what your money truly should get you in each individual market;
4. Calling the Listing Agent each time you see a property causes extra work for you, the prospective Buyer. The Listing Agent, until a Buyer Representation Agreement is signed, is working for the Seller. They do not know your likes, dislikes, price point, area of interest. Therefore you continue to call agents, only to find out that the property is not for you, and you start again.
4. Working with the Listing Agent does not give you a better purchase price. At the end of the day, the Brokerage gets paid, and the Seller wants the price that the Seller wants. The listing agent will sell the property - if not to you, then to someone else, all they have to do is wait. Remember, the listing agent's job is to get the Seller the best possible price for their property, not create a fire sale so they can get paid quicker.
One of the scenarios that we are seeing today is a couple drive to the area on Saturday to look at cottages. They have 4 appointments with 4 different listing agents (tough to coordinate to start with!). The couple sees each individual property - none are what they are looking for, they have lost a full day with no results, and each of those 4 agents knows nothing about the Buyers or their goals. The day is a loss, and the next weekend the couple start the dance all over again!
Here is what should happen: the couple talks to 3 or 4 different agents to get a feel for each of the agents. Are they a good fit? Are they truly interested in my goals? In my wishlist? Do I get a sense that this agent will spend time on my behalf? Do they seem to have a knowledge of the listings currently on the market and the area/town/lakes? Once the "right fit" is found, the legwork is in the hands of the Buyers' agent. That agent will look at what is on the market, with their knowledge of each lake (big, small, weedy, good boating, good swimming, quiet), they will weed out the listings on lakes that don't fit the Buyer's wishlist. Then they will look at factors such as seasonal, access, water frontage, # of bedrooms, move-in ready or needing tlc.....THEN, and only then, will they forward possible properties to the Buyers. The Buyers only look at properties that are true candidates. A date is set, the Buyers come up, and the agent takes them to each of the potential properties. The Buyer may not like what they see...that's o.k. It's a process. But that initial meeting is also crucial, because the agent is going to learn even more about you by your reactions to the properties that he/she has shown you that day.
Buying a property should be fun and exciting....not a huge amount of work. Let someone be on your side, work for you, and care for your happy ending.

Going the Distance....

This charming fellow hangs on my wall in the office. Every morning I walk in, and there he is to greet me! I smile every time! A simple gesture from a client that means the world to me! We get caught up some times in the bigger things in life.....large gifts, things we own, things we accomplish, but it is truly the small things that give us all the pleasure in the world!
The people who gave me the bear emailed me one day. We had never met or spoken before. They said they saw a piece of property - an acreage, and wondered if I was willing to represent them in the purchase process. First I said I wanted to go see the property so I knew what I was negotiating over. So out I went - tried to find lot lines, looked at the terrain and the neighborhood. I then called them and told them what I had done. In return, they wanted to come see the property again, with me. So out we went and walked, climbed, hiked and stepped in moose leavings...did I mention the property was 28 acres??
The end result is that they are very happy with their purchase, they couldn't believe I was willing to go out in the bush with them, and I got this token to remember them by. The backpack is perfect! And the bear represents a carved bear that was on the property. 
Now it is confession time....walking through the bush is not a hardship for me. Just give me an excuse! Every time I see this guy on my wall I wish I was back out there! Never been to the Highlands?? Oh my goodness you have to come! Haliburton Highlands is stunning and loaded with fun! See you out there one day!

Home Inspections and their REAL Purpose!

Yesterday, along with 6 other realtors from our office, I attended a mock inspection with a local Home Inspector. Even though I attend every home inspection with or on behalf of my clients, I always seem to learn something!
Yesterday was no different. Realtors cannot misrepresent or act as professionals in other areas - we are not inspectors, builders, lawyers, accountants, mold remediators...... we are real estate agents. We have studied contract law, real estate law, and introductory courses on some of the above items - but only someone who does it for a living is completely "in-the-know".
One key take-away from yesterday is what the inspector is really doing there. They are looking for safety issues. If your inspector is constantly saying "this is not to code" - they are doing you a dis-service. Most homes have things that are not to code, because the codes change regularly. They were probably to code at the time of being built or installed, but they aren't now. Is this a problem? Not usually. Unless it presents an unsafe situation for you and your family. Of course, we all know of the "homeowner fix-its", but again - if it is poorly done it does not matter unless it is unsafe.
I love home inspections - it helps the Buyer learn about their future home or cottage. Where are the shut-off valves, how the systems work, and more importantly, they offer a blueprint for the Buyer of future maintenance. The home inspector will point out what may need repair/maintenance or replacement within the next year, 5 years, 10 years - it gives the new home owner a guide, a plan to help with reducing surprises.
There was also discussion around mold - every home has mold - did you know that? There are also often very easy fixes for this very common occurrence. Many Buyers will eliminate a property that has signs of mold - but this can be a big mistake - that could be the perfect home or cottage and it is passed over. Don't get me wrong - mold can also be a very serious issue! I am just saying not to dismiss a property without getting more information.
Currently there is no mandatory regulations in place for home inspectors, but over the next few months there are big changes coming. Ask some very important questions before hiring a home inspector - what designations does he/she have, what association do they belong to? Did you know that OAHI members (Ontario Association of Home Inspectors) voluntarily follow a set of regulations? Good to know!
We are lucky in our County that we have some excellent home inspectors. They are extremely knowledgeable, ethical, and thorough. Please -- never buy a home or cottage without an inspection!

Reflection and Cottage Life Show

Well, another year has passed. I know it is a cliche to make resolutions in January, but in real estate it actually makes sense. It is part of my business plan - reviewing the past year, successes and challenges and coming up with plans to maintain, increase, or improve where necessary.
I really enjoy this time of year. Reviewing reminds me that I am on track and doing a good job. We get lost in the day-to-day so easily. This past week has been my review period, and I must say, I am very happy. The market in 2012 in the Haliburton Highlands was static. There were 237 sales in 2013, and there were 237 sales in 2012. Weird but true! The average sale price in 2013 was $239,686, and the average sale price in 2012 was $248,000 - so prices went down slightly, but basically maintained value, and # of sales.
Looking at the statistics, my personal business grew 363%! Wow!
One of my biggest challenges over the past year is "fitting in" technology. Sitting down to my blogs, facebook and twitter are big challenges after a very busy day - so here is where I get back to my resolution (goal is a better word!). More blogging! Continued education is always there, and this year I am taking courses for ABR (Accredited Buyer Representative). I am excited about this one.....more education on how best to represent and protect my buyers - always a good thing!
The Cottage Life Show is coming the last weekend in March, so now is the time to start preparing. I know that for Sellers it is difficult to think about getting your cottage listed in the middle of January, but it needs to be done. RE/MAX has a huge presence at the Toronto Cottage Life Show, and it is where we start to get the Buyers warmed up, by showing off the new listings that will be available - so call me for your quotes! Trudging through deep snow is what I do! Cross country skies and snow shoes are in my trunk and ready for use.
Bring on Spring - it will be here faster than you think! Have a wonderful 2014 everyone!