Posted in: Bowmanville, Clarington Real Estate
We have listed a new property at 105 Westover DR in Clarington.
Stunning Family Sized 4Bdrm Home On Large Pie Shaped Lot. This Home Features A Large Backyard With A Huge Deck Great For Entertaining. The Main Floor Boasts Gorgeous Hardwood Floors, Freshly Painted, Open Concept Family Room With A Gas Fireplace & Pot Lights. The Kitchen Boasts A Large Eat In Area, Breakfast Bar & Good Sized Pantry Great For Storage. The 2nd Floor Bedrooms Are All Spacious In Size. The Basement Is Already Framed To Get You Started.
The Covid-19 pandemic has changed our lives in almost every way. Certain aspects like family and home-based pursuits have been strengthened, while external activities like education, recreation and entertainment have been challenged.
Covid-19 has had an absolute impact on the economy with many businesses closing, negatively impacting employment opportunities.
Interest rates are at historical lows and if you have been saving to purchase your first home you may be well positioned; but that may not be the case in all areas. If you are still looking to live the urban lifestyle, there has been downward pressure on condominium prices as vacancy rates creep higher creating expanding inventories. The suburbs are a different story, particularly in the Regional Municipality of Durham. Those starting families and needing more space have been leaving Toronto’s core and looking to the 905 region for access to modern infrastructure and recreation facilities. Many established families in the 905 have decided to weather the pandemic and stay in their current homes. This move has limited supply, while demand has crept up. This trend may be partially attributed to the pandemic and the need for yard spaces that condominiums just cannot offer.
In the Durham Region the average home price was up almost 20% year over year with the City of Oshawa seeing gains of over 22.5%. Established homeowners in Toronto have seen enormous increases in equity since 2009 making the move outside the city financially advantageous. This reality has created cash rich competition for first-time buyers.
Many younger real estate buyers that purchased a condo as an investment years ago are now stuck with the prospect of dwindling equity and increasing maintenance fees limiting their ability to save a down payment for a larger home outside the city. Furthermore, younger wage earners tend to work in less established positions that have been hit harder with pandemic layoffs and downsizing.
For those fortunate enough to have the money to purchase, short supply has seen the return of bidding wars for attractive properties. There is a good option for millennials, the fixer upper. The 905 presents many opportunities to purchase an older home (25-40 years old) that may be in original condition. Those willing can avoid the bidding wars and seek older homes saving thousands of dollars. One clear advantage of this strategy is having less money tied up in a home purchase freeing funds to update a home with the latest amenities suited to the buyer’s taste.
Being in the present is important for our health and perspective, our future presents a plethora of opportunities for growth. Without trying to be overly new age, the steps we take now will provide a brighter tomorrow. The new year is a fresh start and avoiding grand resolutions may help avoid self-deprecation as the winter months drag on. Bearing this in mind, the old adage “one day at a time” would be more useful to keep personal growth goals on the rails. To be resilient means to be mindful of all the things we as Canadians enjoy. Be kind and be well in 2021.
Over the holidays there was a newspaper article highlighting a proposed development in Vancouver, called Quantum Park. One interesting result of the pandemic was the ability technology has given us to be productive away from the office. Quantum Park will redevelop three hectares of industrial land in Vancouver’s inner harbour into mixed use (commercial/residential) property. The development will be part of moving the city toward a tech centric economy. Although the office will not completely be outmoded, Quantum Park will allow tech companies to lease office space and meeting areas in close proximity to employee dwellings making the morning commute obsolete.
Closer to home Toronto has been considering what to do with The Port Lands that stretch across the lake front from Cherry to Leslie Streets south of Lakeshore Boulevard. One of the most exciting announcements has been the naturalization of the Don River. This process will see the waters of the Don River flow freely into Lake Ontario for the first time in over a century. Parks, bridges, and foot paths will complement proposed residential spaces between the Keating and Shipping channels creating a new island. The area will be complemented by the existing Cherry Beach and Tommy Thompson Park (Leslie Street Spit).
Indeed, there are exciting times ahead for residential, commercial and leisure developments in the Greater Toronto Area. Over the next few months, we will be bringing some other interesting developments in real estate to our readers.
Thank you for your support over the last fifteen years, let’s take 2021 as it unfolds with a positive outlook toward a healthy and hopeful future.
Posted in: Greensborough, Markham Real Estate
We have listed a new property at 310 55 The Boardwalk WAY in Markham.
Stunning Condo Apt In The Desirable "Swan Lake Community". Large 1246 Sq Ft Unit, Great Layout Featuring Master W-Huge Walk-In Closet,4 Pc Ensuite W- Sep Shower & Jetted Soaker Tub. Lg 2nd Bedroom, Additional 4Pc Bath, Laundry Rm W- Stackable Washer/Dryer, Hall Closet With Double Doors,& Covered Balcony Accessed From Breakfast Area. Updated Kitchen With Quartz Counters, New Sink & Faucet, Freshly Painted & New Hardwood Throughout 2019.
Posted in: Bowmanville, Clarington Real Estate
We have listed a new property at 22 Rustwood ST in Clarington.
Opportunity For First Time Buyer! Fantastic 2 Story Home With A Cozy Front Porch In A Quiet Community Close To Tons Of Amenities. Bright Eat In Kitchen With A Walk Out To A Large Deck & Backyard Great For Entertaining. Great Layout With Spacious Living/Dining Room. Three Good Sized Bedrooms, Master Boasting A Walk-In Closet And Semi Ensuite. Finished Rec Room With A Built-In Wet Bar And 4 Pc Bath. Close To Hwys 418 & 401.
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