Grey Bruce Real Estate News from Susan Terry April 2018   

 
It's a great time to sell your home, inventory is low in Saugeen Shores! Contact me for an opinion of value.

If your teen's heading off to college or university this fall, you’ll need to start thinking about accommodations. This month’s article explores the option of purchasing an investment property for them to live in and manage.
 
There’s also some advice on how to babyproof your home as well as a few spring home maintenance tips to help you get ready for the nice weather that’s right around the corner!

Thanks so much for checking out this month's newsletter. Please get in touch if you have any questions or comments regarding the articles, or real estate in general -- it'd be great to hear from you!

Cheers
Susan Terry

In this issue...
Grey Bruce Real Estate Market Update 
Grey Bruce home sales in line with 10-year average.

Residential sales activity recorded through the MLS® system for the Grey Bruce Owen Sound and Wellington areas totaled 206 units in March 2018.

This was down 32.2% from the record smashing month of March in 2017.

That said, March 2018 sales stood right in line with the 10-year average for that month, and roughly in between the highs and lows of recent years.

On a year-to-date basis, home sales totalled 475 units over the first three months of the year. This was a decline of 22% from the same period in 2017.

The average price of homes sold in March 2018 was $345,310, rising 13.4% from March 2017. The more comprehensive year-to-date average price was $333,918, rising 11.1% from the first three months of 2017.

New residential listings in the region numbered 394 units in March 2018. This was down 4.4% on a year-over-year basis. Overall supply stands at record lows. Active residential listings numbered 696 units at the end of March, down 20% from the end of March 2017.

Months of inventory numbered 3.4 at the end of March 2018, up a bit from the 2.9 months recorded at the end of March 2017 but still well below the long-run average of 9.8 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

The dollar value of all home sales in March 2018 was $71.1 million, falling 23.1% from the record for the same month in 2017. Sales of all property types numbered 267 units in March 2018; this was a 30.6% decline from March 2017. The total value of all properties sold was $82 million, falling 25.4% from March 2017.

Buying a College Crib for Your Kid 
This exciting life event could be a great investment opportunity!

There's an air of excitement when your kids move out to study at college or university but it can also be a very expensive time.

Purchasing an investment property may be one way to offset those expenses. The idea is to cover the mortgage payments with the rent collected from roommates while your child manages and maintains the property.

As with any home purchase, you’ll want to carefully evaluate local market conditions so it’s important to select the right real estate agent. If you don’t already have someone you feel comfortable with, let me know and I can refer you to a professional who has a firm grasp of the local market.

Local rents, vacancy rates and zoning laws should also be examined. Finally, it's important to consider your long-term goals and determine whether you plan on renting it out once your child graduates as this will affect the rate of appreciation.

Specific purchasing details such as co-signing the mortgage or listing your child on title should be discussed with your financial planner and mortgage advisor. There are pros and cons to different ownership scenarios so you'll want to examine what makes sense for your specific individual situation.

Purchasing an investment property that's managed by your child is a decision that shouldn’t be taken lightly but it's certainly an option worth considering. It could end up being a great opportunity but make sure you do your homework so you can carefully weigh up the risks and rewards. When you crunch the numbers, you may just find that purchasing a campus crib makes great cents :)

The Foolproof Way to Babyproof Your Home 
Little ones love to explore so be sure to properly prep your home.

The arrival of a new baby brings many responsibilities, one of which is babyproofing your home. Here are a few things to keep in mind when preparing your home for your new little bundle of joy:

  1. Slam Jam - Install door stops/holders so fingers don't get caught.


  2. Tie Up Loose Ends - Tie up blind and curtain cords so they’re out of reach.


  3. Cabinet Caution - Make sure cabinets and drawers are equipped with safety latches.

  4. Don’t Cut Corners - Cover any sharp corners such as those on coffee tables with foam.

  5. It's No Shock - Cover electrical outlets with safety plugs so that they're not able to shove keys or other objects into them.

  6. Strong Attachments - Securely tether any furniture that could tip over such as dressers and shelves so they won’t come tumbling down if your little one starts climbing.

  7. Supermax Security - Install a baby gate at the top and bottom of your staircase. Make sure they're attached directly to the wall and not just pressure mounted.

It’s best to babyproof your home before your little one arrives as it'll be the last thing on your mind when you're a tired new parent. Getting down on all fours and crawling around will help you see hazards from their perspective.

Spring Home Maintenance Tips 
It's the time of year to give your home a complete physical.

Spring has sprung so it's time to take a good look around your home, both inside and out and conduct some preventative maintenance. Here are just a few ideas to get you started:

  • inspect your attic for rodents and roof leaks

  • inspect your roof and the flashings around your chimney

  • check seals around windows/doors and fix damaged screens

  • repair fences, posts, steps, decks, railings and outdoor furniture

  • clean out your gutters and make sure all of the downspouts drain away from your foundation

Your home is likely your biggest investment so it's important to perform regular maintenance in order to keep it in tip-top shape. If you set aside a couple of days now, you'll be able to sit back, relax and enjoy your home when the summer finally arrives!



PS Are you sick of scouring the paper and MLS sites looking for homes?  Tired of playing telephone tag with agents only to hear the home's already sold?  Sit back, relax and let me do the work for you!  Just visit my website and check off the features you're looking for.  Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home.


Not meant to solicit clients already under contract.