Stouffville Real Estate Centre
6311 Main Street L4A 1G5 Stouffville, ON, Canada

Blog Thursday: Despite dire predictions about the value of homes from the Canadian Mortgage and Housing Association, economic experts agree that the real estate market remains a sound choice. Read our blog to hear from the experts below. Real Estate Continues to Show Unprecedented Strength This Year... The 2020 housing market has surpassed all expectations and continues to drive the ’s country’s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming US election, and more? Here’s a look at what several industry-leading experts have to say. Lawrence Yun, Chief Economist, National Association of Realtors Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market.Further gains in sales are likely for the remainder of the year with mortgage rates hovering around 3% and with continued job recovery. Matthew Speakman, Zillow Economist In a remarkable show of resilience, the housing market has stared the pandemic right in the eye and hasn’t blinked. Tim Hudak, CEO Ontario Real Estate Association Real estate saved our economy during the last downturn and it can once again be the locomotive that gets us back on track. There is still a debate among many leading economists regarding the Canadian Mortgage and Housing Corporation’s (CMHC) previous property forecast that calls for a 9-18% price drop in the coming months. Findings from a new report shares forecasts from 16 Canadian economists shows that the majority of economists believe interest rates will hold close to the current rate until at least 2023. This, according to many experts, suggests that predicted declines in property values are not likely. Half of the panel said the Canadian property market might not fall as far as expected. In fact, half the panel says that the CMHC forecast that Canadian house prices will fall up to 18% this recession is no longer relevant. In the report, Dominion Lending Centres chief economist Sherry Cooper explained that the average home prices nationwide were up by 1.5% at the latest reading in August, cautioning that the CMHC is overly pessimistic. Overall, prices are actually on the rise and that record-low mortgage rates will continue to drive sales and prices higher. Bottom Line Many economists are in unison, indicating the housing market will continue to fuel the economy through the end of the year, maintaining this unprecedented growth.

Motivational Monday: It all depends on how you look at it! Choose to frame for growth and progress even if some days it does not feel easy. Have a great week out there.

Blog Thursday: 6 Reasons You’ll Win by Selling with a Real Estate Agent This Fall There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you can trust to help guide you through the process. If you’re considering selling on your own, known in the industry as a For Sale By Owner (FSBO), it’s critical to consider the following: Your Safety...Continue reading

Fun Fact Friday: In Canada and the US, the harvest table, as it is recognized today, began with the feasts planned as a fall harvest celebration. These feasts are most recognized as the roots of the Thanksgiving holiday. By definition a harvest table as a narrow, long table with hinged drop leaves. The design style has changed over the years, but the table is usually at least 6 feet in length (and sometimes 1 to 2 feet longer).

Blog Thursday: Blog Thursday: Home Buyers are moving to Luxury Homes. Find out why in our latest blog post below. Message for the latest information about buying and selling in Stouffville. Buyers are Finding More Space in the Luxury Home Market... A year ago, additional space and extra amenities had a very different feel for homebuyers. Today, the health crisis has brought to light how valuable more square footage and carefully designed floor plans can be. Home offices, multi-purpose rooms, hymns, and theaters are becoming more popular, and some families are finding the space they need for these upgrades in the luxury market. The Institute for Luxury Home Marketing (ILHM) explains: With quarantine concerns still top of mind for many luxury buyers, we see large, sprawling estates making their comeback. For instance, the last six months have seen a resurgence in the buying of mega mansions and estate-size homes- specifically properties that offer space (both inside and outside), separate home offices, gyms, and private amenities such as swimming pools, yoga studios, and recreation rooms. This was not the case at this time last year, as the most recent Luxury Market Report from ILHM emphasizes Exactly one year ago, we reported that demande for large properties, mega mansions, private estates, and luxury ranches had reduced significantly over previous years; especially from the younger generation of luxury property buyers. For today’s buyers looking for larger homes, steady increases in equity might be what makes a move possible. Leveraging home equity makes it easier to afford the down payment on a luxury home, and current low interest rates are making mortgage payments more affordable than they have been in years. The report from ILHM also notes: Luxury real estate prices may continue to strengthen further into the third quarter, as the affluent continue to see large investment returns from the currently strong stock market. Coupled with the low interest rates, the policies granting (and insisting) on working from home implemented by many employers, and the concerns of the pandemic, all translate to the affluent increasingly trading in their city lifestyle for a home that has it all. Clearly, today’s strong gains in home equity paired with record-low interest rates make fall a great time to move up into the luxury market to meet those changing needs. Bottom Line If you’re ready to gain some breathing room in a larger home, let’s connect so you have the guidance you need to find more space in the luxury market.