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Open House.

Please visit our Open House at 130 Mainprize CRES in East Gwillimbury. See details here

Prepare to be wowed by this stunning 3-bedroom Bungalow, perfectly situated on a desirable cul-de-sac, backing onto a serene ravine. The spacious open-concept design features vaulted ceilings, a cozy two-sided gas fireplace, and gleaming hardwood floors throughout the principal rooms. The updated kitchen is a chef's delight with a large centre island, quartz countertops, and sleek stainless steel appliances, perfect for hosting and everyday living. The finished basement extends your living space with a media room, games room, and home office, offering endless possibilities. Step outside to your own private oasis! The expansive backyard is a true showstopper, featuring a large deck with a pergola for entertaining, a sparkling in-ground pool, and breathtaking southerly views of lush greenspace and the ravine. It's the perfect escape for relaxation and outdoor enjoyment. Located in the charming Village of Mount Albert, this home is walking distance to shops, restaurants, the library, community centre, and scenic walking trails and only a 10-minute drive to Hwy 404 and the GO Train & Newmarket. This showpiece home is ideal for anyone seeking a friendly neighbourhood or for downsizing seniors. Don't miss this incredible opportunity!

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Open House. Open House on Sunday, November 3, 2024 2:00 PM - 4:00 PM

Please visit our Open House at 130 Mainprize CRES in East Gwillimbury. See details here

Open House on Sunday, November 3, 2024 2:00 PM - 4:00 PM

Prepare to be wowed by this stunning 3-bedroom Bungalow, perfectly situated on a desirable cul-de-sac, backing onto a serene ravine. The spacious open-concept design features vaulted ceilings, a cozy two-sided gas fireplace, and gleaming hardwood floors throughout the principal rooms. The updated kitchen is a chef's delight with a large centre island, quartz countertops, and sleek stainless steel appliances, perfect for hosting and everyday living. The finished basement extends your living space with a media room, games room, and home office, offering endless possibilities. Step outside to your own private oasis! The expansive backyard is a true showstopper, featuring a large deck with a pergola for entertaining, a sparkling in-ground pool, and breathtaking southerly views of lush greenspace and the ravine. It's the perfect escape for relaxation and outdoor enjoyment. Located in the charming Village of Mount Albert, this home is walking distance to shops, restaurants, the library, community centre, and scenic walking trails and only a 10-minute drive to Hwy 404 and the GO Train & Newmarket. This showpiece home is ideal for anyone seeking a friendly neighbourhood or for downsizing seniors. Don't miss this incredible opportunity!

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Bank of Canada makes supersized 50 basis point cut to overnight lending rate

Fourth consecutive cut brings key lending rate to 3.75% for the first time in two years

For the first time in two years, the Bank of Canada’s overnight lending rate has hit under 4%.

In its scheduled October 2024 announcement, the central bank lowered the target for the overnight lending rate by 50 basis points to reach 3.75%. This marks the fourth consecutive cut to rates in 2024, and the largest decrease since the onset of the pandemic in March 2020. 

In September, Canada’s Consumer Price Index recorded the smallest yearly increase since February 2021, rising 1.6% year over year, hitting under the Bank’s 2% inflation target for the second consecutive month. This was a key factor in the Bank’s decision to lower the lending rate by a larger amount in October. 

“In the past few months, inflation has come down significantly from 2.7% in June to 1.6% in September. Recent indicators suggest it will be around 2% in October. Price pressures are no longer broad-based, and both our measures of core inflation are now under 2.5%. Our surveys also find that business and consumer expectations of inflation have shifted down and are nearing normal. All this suggests we are back to low inflation. This is good news for Canadians,” said Tiff Macklem, Governor of the Bank of Canada, in a press conference with reporters following the announcement. 

“If the economy evolves broadly in line with this forecast, we anticipate cutting our policy rate further to support demand and keep inflation on target. The timing and pace of further interest rate cuts will depend on incoming information and our assessment of its implications for the inflation outlook. We will take our monetary policy decisions one at a time,” he added.

Lower rates could trigger early spring market 

Another cut to the overnight lending rate may be enough to stimulate activity in stagnant housing markets across Canada come spring, especially among buyers who have been sidelined by the higher cost of borrowing over the past two years. 

In its Q3 2024 Home Price Update & Market Forecast, Royal LePage predicted that the aggregate price of a home in Canada will increase 5.5% in the fourth quarter of 2024, compared to the same quarter last year. As lower interest rates boost consumer confidence and borrowing power, home prices are expected to increase as more buyers re-enter the market. Rising demand in the late months of 2024 and into the new year will likely put Canada’s housing market on track for an early spring market. 

“Activity in Canada’s housing market has been sluggish in many regions due to higher borrowing costs, but today’s more aggressive cut to lending rates could cause the tide to turn quickly. For those with variable rate mortgages – who will benefit from the rate drop immediately – or those with fast-approaching loan renewals, today’s announcement is welcome news indeed,” said Phil Soper, president and CEO of Royal LePage. “With every cut to the overnight lending rate, more homebuyers are expected to come off of the sidelines. In turn, rising demand will cause home prices to increase more rapidly, eliminating the advantages of lower borrowing costs. We expect that an early spring market is on the cards – a pull-ahead trend we’ve seen in previous market turnarounds.”

Though the Bank of Canada started to reduce rates in June, many homebuyers have been waiting for a more substantial cut to rates before choosing to reboot their purchase plans. According to a Royal LePage survey, conducted by Leger, 51% of Canadians who put their home buying plans on hold the last two years said they would return to the market when the Bank of Canada reduced its key lending rate. Eighteen percent said they would wait for a cut of 50 to 100 basis points, and 23% said they’d need to see a cut of more than 100 basis points before considering resuming their search.

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Open House. Open House on Saturday, October 26, 2024 2:00 PM - 4:00 PM

Please visit our Open House at 130 Mainprize CRES in East Gwillimbury. See details here

Open House on Saturday, October 26, 2024 2:00 PM - 4:00 PM

Prepare to be wowed by this stunning 3-bedroom Bungalow, perfectly situated on a desirable cul-de-sac, backing onto a serene ravine. The spacious open-concept design features vaulted ceilings, a cozy two-sided gas fireplace, and gleaming hardwood floors throughout the principal rooms. The updated kitchen is a chef's delight with a large centre island, quartz countertops, and sleek stainless steel appliances, perfect for hosting and everyday living. The finished basement extends your living space with a media room, games room, and home office, offering endless possibilities. Step outside to your own private oasis! The expansive backyard is a true showstopper, featuring a large deck with a pergola for entertaining, a sparkling in-ground pool, and breathtaking southerly views of lush greenspace and the ravine. It's the perfect escape for relaxation and outdoor enjoyment. Located in the charming Village of Mount Albert, this home is walking distance to shops, restaurants, the library, community centre, and scenic walking trails and only a 10-minute drive to Hwy 404 and the GO Train & Newmarket. This showpiece home is ideal for anyone seeking a friendly neighbourhood or for downsizing seniors. Don't miss this incredible opportunity!

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Open House. Open House on Sunday, October 27, 2024 2:00 PM - 4:00 PM

Please visit our Open House at 130 Mainprize CRES in East Gwillimbury. See details here

Open House on Sunday, October 27, 2024 2:00 PM - 4:00 PM

Prepare to be wowed by this stunning 3-bedroom Bungalow, perfectly situated on a desirable cul-de-sac, backing onto a serene ravine. The spacious open-concept design features vaulted ceilings, a cozy two-sided gas fireplace, and gleaming hardwood floors throughout the principal rooms. The updated kitchen is a chef's delight with a large centre island, quartz countertops, and sleek stainless steel appliances, perfect for hosting and everyday living. The finished basement extends your living space with a media room, games room, and home office, offering endless possibilities. Step outside to your own private oasis! The expansive backyard is a true showstopper, featuring a large deck with a pergola for entertaining, a sparkling in-ground pool, and breathtaking southerly views of lush greenspace and the ravine. It's the perfect escape for relaxation and outdoor enjoyment. Located in the charming Village of Mount Albert, this home is walking distance to shops, restaurants, the library, community centre, and scenic walking trails and only a 10-minute drive to Hwy 404 and the GO Train & Newmarket. This showpiece home is ideal for anyone seeking a friendly neighbourhood or for downsizing seniors. Don't miss this incredible opportunity!

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New property listed in Mt Albert, East Gwillimbury

I have listed a new property at 130 Mainprize CRES in East Gwillimbury. See details here

Prepare to be wowed by this stunning 3-bedroom Bungalow, perfectly situated on a desirable cul-de-sac, backing onto a serene ravine. The spacious open-concept design features vaulted ceilings, a cozy two-sided gas fireplace, and gleaming hardwood floors throughout the principal rooms. The updated kitchen is a chef's delight with a large centre island, quartz countertops, and sleek stainless steel appliances, perfect for hosting and everyday living. The finished basement extends your living space with a media room, games room, and home office, offering endless possibilities. Step outside to your own private oasis! The expansive backyard is a true showstopper, featuring a large deck with a pergola for entertaining, a sparkling in-ground pool, and breathtaking southerly views of lush greenspace and the ravine. It's the perfect escape for relaxation and outdoor enjoyment. Located in the charming Village of Mount Albert, this home is walking distance to shops, restaurants, the library, community centre, and scenic walking trails and only a 10-minute drive to Hwy 404 and the GO Train & Newmarket. This showpiece home is ideal for anyone seeking a friendly neighbourhood or for downsizing seniors. Don't miss this incredible opportunity!

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Toronto real estate market shows promising gains in September

It seems increased affordability and favourable market conditions are encouraging buyers to re-enter the market. The Toronto Regional Real Estate Board (TRREB) reported a positive trend in the Greater Toronto Area (GTA) housing market last month, as September home sales outpaced last year’s figures.

Market dynamics: sales and listings on the rise 

In September 2024, the GTA witnessed a significant increase in home sales, with a total of 4,996 properties changing hands, marking an 8.5% rise from the 4,606 sales recorded in September 2023. Furthermore, the market saw a substantial increase in new listings, with 18,089 new entries into TRREB’s MLS® System, a 10.5% increase year over year. On a seasonally adjusted basis, September sales also increased compared to August, along with new listings. This growth suggests a healthier market balance that benefits both buyers and sellers.

Price Adjustments: A Buyer’s Advantage

The MLS® Home Price Index Composite benchmark showed a decrease of 4.6% compared to last year, with the average selling price settling at $1,107,291, slightly down from the previous year’s average of $1,118,215. On a seasonally adjusted basis, the average selling price edged up slightly compared to the month prior.

These adjustments in price points reflect a market that is increasingly favourable to buyers, particularly in the more affordable segments of the market such as condominiums and townhouses.

TRREB President Jennifer Pearce highlighted the positive impact of recent economic changes, stating, “With every rate cut, more GTA households find themselves in a position to make a long-term investment in home ownership. The adjustments in mortgage lending guidelines and the downward trend in borrowing costs are making it easier for first-time buyers and existing homeowners alike to purchase properties.”

Jason Mercer, TRREB’s Chief Market Analyst, added, “The increase in new listings has not only improved sales but has also empowered buyers with greater negotiating power. This shift is leading to moderate price declines across various housing types, improving overall affordability.”

Future outlook: Enhanced flexibility for homebuyers 

TRREB CEO John DiMichele expressed satisfaction with recent policy changes that enhance mortgage flexibility. “The recent adjustments to mortgage lending guidelines, including the removal of the stress test requirement for mortgage renewals and the extension of amortization periods, are crucial for giving buyers more leverage and options in the housing market,” DiMichele explained.

As the GTA real estate market continues to recover, these changes are expected to sustain the momentum of growth, benefiting both the economy and individual homebuyers looking to enter or navigate the market more effectively.

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Open House. Open House on Sunday, October 6, 2024 2:00 PM - 4:00 PM

Please visit our Open House at 40 Grist Mill RD in East Gwillimbury. See details here

Open House on Sunday, October 6, 2024 2:00 PM - 4:00 PM

Discover this charming raised bungalow in Holland Landing, nestled on a private and oversized lot that offers a backyard oasis with a two-tiered deck and hot tub - perfect for relaxation and entertaining. Lovingly maintained, this home has undergone key updates over the years, ensuring it's move-in ready. The open-concept main floor boasts beautiful hardwood floors, a spacious living and dining area complete with a cozy gas fireplace, elegant wainscoting, crown molding, and a seamless walk-out to a large deck. The custom Rockwood kitchen is a chefs delight, featuring a large centre island, granite countertops, stainless steel built-in appliances, and a stylish backsplash.This home is designed for entertaining! The finished lower level includes a warm recreation room with a wood-burning fireplace, engineered hardwood flooring, a convenient 2-piece bath, and a spacious laundry/utility room with a built-in workbench and garage access. The oversized two-car garage is a dream for any handy person, offering ample workspace with a large workbench and built-in cabinets.

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