Fall colours add curb appeal

Whether you’re getting your home ready for sale, or just want to give your entrance a welcoming look, nothing says curb appeal like a burst of colour. Seasonal Fall flowers like Mums are perennials, so the effort of planting them can be worth it, because they come back every year. A less labour intensive solution is to display them in urns or planters, possibly adding some evergreen boughs or twigs to ramp up the effect by adding texture and height. A coordinating wreath with vibrant fall colours can complete the effect. But why stop there? You can refresh your look and introduce a pop of fall colour by painting your mail box, flower pots or even your front door. Want some helpful advice about other improvements that can also add to your home’s resale value? Contact Earl Taylor, your local Coldwell Banker professional.

Welcome Fall with fun activities

Even during today’s physical distancing environment, the beauty of the fall season offers a great opportunity to get out and see nature at its best. It’s also a wonderful way to spend some creative time together to create seasonal crafts for your home.

An autumn hike can include the collection of colourful leaves, pine cones and twigs that can be used to create a fall wreath or centerpiece. You might even introduce festive elements and make it your first preparation for the coming holiday season. Many communities also offer ‘safe distancing’ outdoor visits to apple farms or a pumpkin patch, where you can participate in the fall harvest, and take home your bounty for a fun day of home baking.

Canadian Home Sales Hit Record Highs

Canadian home sales reached an all-time monthly high in September, while the supply of houses listed for sale declined to a record low. According to statistics released on October 15 by the Canadian Real Estate Association (CREA), national MLS® home sales rose by an additional 0.9% in September. Sales activity was up 45.6% year-over-year. Meanwhile, the inventory of homes listed for sale declined to the lowest level on record, spurring high competition for available listings. The national average sale price topped the $600,000 mark for the first time in history.

While similar trends are found in the majority of Canadian markets, bear in mind that this is the national picture. For a closer look at real estate sales and pricing in your local market, contact Earl Taylor, your local Coldwell Banker professional.

Welcome Fall with fun activities

Even during today’s physical distancing environment, the beauty of the fall season offers a great opportunity to get out and see nature at its best. It’s also a wonderful way to spend some creative time together to create seasonal crafts for your home.

An autumn hike can include the collection of colourful leaves, pine cones and twigs that can be used to create a fall wreath or centerpiece. You might even introduce festive elements and make it your first preparation for the coming holiday season. Many communities also offer ‘safe distancing’ outdoor visits to apple farms or a pumpkin patch, where you can participate in the fall harvest, and take home your bounty for a fun day of home baking.

Welcome Spring with a splash of colour

At a time when many of us are spending more time at home than ever before, it’s a great time to perk up your surroundings with a fresh coat of paint. Keeping your décor neutral, with soft, light colours will create a feeling of spaciousness. Strong colours can then be introduced on a limited basis, such as on just one accent wall to add drama.

Starting with a more neutral backdrop, you can welcome Spring with a splash of colour. Introduce colourful accents like throw pillows, area rugs or artwork in bright shades to make your room ‘pop’. Your accents can easily be changed with the seasons to refresh your look throughout the year.

Canadian April 2020 home prices remain stable

As expected during the pandemic, Canadian MLS® home sales fell sharply in April, according to statistics issued by the Canadian Real Estate Association (CREA). But while the number of transactions declined last month, sale prices have held relatively steady in markets across the country.

The national average price for homes sold in April was $488,000, down only slightly by 1.3% from the same month last year. Excluding Canada’s most active and expensive markets, Greater Vancouver and Greater Toronto, the national average reduces to $392,000, says CREA.

Of course, this is just ‘the big picture’ on the national front. Home prices can vary dramatically between regions, within neighbourhoods and even on the same street. For a detailed look at resale prices in your area, contact Earl Taylor – Broker, your local Coldwell Banker professional.

Virtual house hunting

In today’s stay-at-home environment, some prospective home buyers have put off their search, at least for now. It may surprise you to know that real estate activity is continuing, while keeping a safe distance. You can get a head start on your home search with some help from technology and your local real estate professional.

Responding to the constraints of the pandemic, more homes are now being promoted with virtual tours, offering a 360° view of every room. Some listings even offer live virtual walk-throughs by the agent, with the questions answered in real time. Other ground-work, such as researching the neighbourhood to locate schools and shopping, or investigating future developments that may impact resale value can go forward now.

The safety and comfort level of our customers is our priority. Contact Earl Taylor – Broker, your Coldwell Banker professional to learn what options are available and choose what’s right for you.

Earl Taylor describes the September 2019 Real Estate Statistics

September – another strong month for real estate

London and St. Thomas Association of REALTORS® (LSTAR) announced 861 homes* were sold last month, marking the second best September for home resales, since the Association began tracking data in 1978.

“In September, home resales across the region were up 11.8%, compared to the same month last year,” said Earl Taylor, 2019 LSTAR President. “With three months left in the year, almost 8,000 homes have exchanged hands, which is up 3.6%, compared to this period in 2018.”

Meanwhile, inventory remains low, with active listings at 1,841, up 8.8%, compared to September 2018. This number is well below the 10-year average. For comparison, this is down 22.6% compared to three years ago and down 49.6% compared to five years ago.

“What we’re experiencing with low inventory has had an impact on the average home sales price,” Taylor said. “Each of the five major areas in LSTAR’s jurisdiction saw an increase last month. It was up 20.4% in Elgin County, up 6.6% in Middlesex and up 6.5% in Strathroy. London and St. Thomas also saw gains, up 5.1% and 4.3% respectively.”

Overall, the average home price was $412,208. It represents an increase of 6.8% from September 2018 but is almost on par with the average sales price of $413,010 from August.

Area	September Average Sale Price
Elgin County	$426,992
London	$410,930
Middlesex County	$504,172
St. Thomas	$335,374
Strathroy	$406,426
LSTAR	$412,208

Looking closer at London by geographic area, the average price in London East was $343,404, up 13.7% from last September. In London South (which includes data from the west side of the city), the average home sales price was $406,388, up 5.4% compared to the previous year, while London North saw a slight decrease of 2.2% over last September, with an average home sales price of $485,102.

The following chart is based on data taken from the Canadian Real Estate Association (CREA) National MLS® Report for August 2019 (the latest CREA statistics available). It provides a snapshot of how average home prices** in London and St. Thomas compare to some other major Ontario and Canadian centres.

According to a research report¹, a total of $67,425 in ancillary expenditures is generated by the average housing transaction in Ontario over a period of three years from the date of purchase. “Based on the home resales in September, that’s generating potentially more than $58 million back into the local economy for the next few years,” Taylor said.

The London and St. Thomas Association of REALTORS® (LSTAR) exists to provide its REALTOR® Members with the support and tools they need to succeed in their profession. LSTAR is one of Canada’s 15 largest real estate associations, representing over 1,700 REALTORS® working in Middlesex and Elgin Counties, a trading area of 500,000 residents. LSTAR adheres to a Quality of Life philosophy, supporting growth that fosters economic vitality, provides housing opportunities, respects the environment and builds good communities and safe neighbourhoods and is a proud participant in the REALTORS Care Foundation’s Every REALTOR™ Campaign.

*These statistics are prepared for LSTAR by the Canadian Real Estate Association (CREA) and represent a data snapshot taken on October 1, 2019, based on processed home sales activity between September 1 and 30, 2019.

**Seasonal adjustment is widely used in CREA’s statistics as a technique for enabling timely interpretation of data. The purpose of seasonal adjustment is to remove systematic calendar-related variations associated with the time of the year (seasonal effects).

CRA identifies more than a billion dollars in additional taxes in BC and Ontario real estate markets over the last four years

Quick Facts: CRA

• Builders of new and substantially renovated residences or rental properties are required to collect and remit the Goods and Services Tax/Harmonized Sales Tax (GST/HST) to the CRA when they sell, rent out for the first time, or appropriate the property for personal use. Additionally, purchasers of new residences must ensure they abide by the rules when applying for new housing rebates.
• The CRA issues unnamed persons requirements to property developers and builders who have information about buyers involved in a pre-construction assignment sale. This information is used to identify taxpayers who may not be reporting correctly for both income tax purposes and GST/HST purposes.
• Property flipping is not illegal; Canadians have the right to purchase and sell property for a profit. However, the income resulting from these transactions must be reported to the CRA.
• The Real Estate Task Force will focus on ensuring that:
  Taxpayers report all sales of their principal residence on their tax returns;
  Any capital gain derived from a real estate sale, where the principal residence tax exemption does not apply, is identified as taxable;
  Money made on real estate flipping is reported as income;
  Commissions earned are reported as taxable income; and
  For Goods and Services Tax/Harmonized Sales Tax (GST/HST) purposes, builders of new residential properties remit the appropriate amount of tax to the CRA.

Checkout this link for the full article: https://building.ca/cra-identifies-more-than-a-billion-dollars-in-additional-taxes-in-bc-and-ontario-real-estate-markets-over-the-last-four-years/

@earltaylorcb