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Weather can influence shopping habits

Friday, February 10th, 2012 by Dan Cooper

With our snowless winter you might expect more people would be out house hunting. January is traditionally a slow month for home sales – we’re too busy working off the turkey dinners – but so much in the consumer world is dictated by weather. And with unseasonably milder temperatures and the lack of snow, one might expect more outdoor activity.

Weather influences so much of what we do. Nowhere can you see the fickle tendencies of the consumer than in retail. Retailers moan if there is no snow leading up to Christmas. Consumers are slow to get into the holiday spirit when the weather doesn’t co-operate. To exacerbate the situation, a slow recovery in our economy has convinced consumers to focus on paying down debt and making only very wise spending choices.

But then, that’s retail. It’s a completely different beast from making a major investment like real estate. Owning a home happens to be one of the wisest investments you can make – in any economic climate. Real estate has consistently been a great investment and nothing on the horizon will change that. Housing types and styles will change, but location, land appreciation and the desire to own a home will not.

So, when we look over the latest housing stats for January, we see that in Oakville, activity was predictably slow while Burlington showed some gains over January 2011.

In Oakville, the number of sales dropped from roughly 180 in January 2011 to 150 this past month and the average price dropped from $655,000 to $608,000. This of course, includes all residential types – freehold, townhouse and condo. This is a temporary drop and we are already seeing signs of a market that is beginning to pick up steam in February. You have to consider that Oakville is one of the most desired places to live in Canada – and as long as you have demand, you will have a healthy market for real estate.

In Burlington, sales were up by 8.4 percent in January compared with January 2011, and the average sale price increased by 10.9 percent, from $392,242 in January 2011 to $435,162 last month. Broken down, the Realtors Association of Hamilton-Burlington shows that freehold prices rose 10.6 percent while condo prices rose 4.9 percent.

“The story for the month of January is that while sales have edged up compared to last year, we are seeing significantly fewer listings than normal,” says Cameron Nolan, RAHB president. “Our listing inventory is the lowest it has been in some time.”

In the Greater Toronto Area sales were 8.8 percent higher than in January 2011 and the average selling price was up by nine percent.

“A favourable affordability picture bolstered by very low posted fixed mortgage rates has kept homebuyers confident in their ability to achieve the Canadian goal of home ownership,” says Toronto Real Estate Board President Richard Silver. “The buyer pool remains diverse in the GTA with strong interest in home types across the pricing spectrum.”

When it comes to the Toronto market, The Dan Cooper Team has strengthened its presence there with the addition of George Chisholm as one of our newest sales representatives. George brings a wealth of knowledge about the Toronto market and can help clients looking to move to Toronto or bring Toronto buyers to the Oakville/Burlington market. George has been a top performer for many years and received Royal LePage’s Director’s Platinum Award in 2010.

In concert with bringing George onto the Team, we have also heightened awareness for our brokerage and our listed properties through a new magazine that is being distributed through Toronto. Prestige sends out 42,000 copies to affluent neighbourhoods throughout Toronto to provide additional exposure for our listings. This is one more example of how The Dan Cooper Team continues to find new and fresh ways to better market your home.

Dan Cooper is an award-winning broker with Royal LePage Real Estate Services Ltd., Brokerage – the Number 1 Royal LePage Team for Canada in 2009, 2007, 2005, 2002, 2001, 2000 and 1999. He can be reached at 905.338.3737, direct line at 905.849.3303 or through his innovative and interactive website at DanCooper.com. Be sure to catch the Dan Cooper Real Estate Series on DailyWebTV.com. For his free booklet How To Sell Your House For Top Dollar – Fast! or his Guide to Oakville Real Estate, please call the Dan Cooper Team.

Posted in Real Estate Market, Statistics, Weather | No Comments »

Ready to sell more homes and offer more services in 2012

Monday, January 9th, 2012 by Dan Cooper

The year-end housing statistics were not available for Oakville and Milton as I was writing this column, but the stats for Burlington and Greater Toronto are out and they show that sales were strong and house prices continued to climb.

“Low borrowing costs kept buyers confident in their ability to comfortably cover their mortgage payments along with other major housing costs,” says Toronto Real Estate Board President Richard Silver. Greater Toronto witnessed its second-best year on record, Silver said, adding that house prices increased by eight percent in 2011 compared to 2010.

In Hamilton and Burlington, the market saw increases in the number of listings and average sales price in December compared to the same month in 2010. The increase in the average sales price for residential was 7.2 percent and for condominiums an impressive 15 percent.

“The December market performed well compared to the average for the month over the last 10 years,” says Cameron Nolan, President of the Realtors Association of Hamilton-Burlington. “And the average sale price continues to rise in our area.”

In Burlington, the average sale price for a residential home climbed from $384,827 in December 2010 to $412,461 in December 2011. Condominium prices rose on average $265,878 in December 2010 to $305,790 in December 2011.

Next week I will review the housing stats for Oakville, which are expected to be released this week. In other news, our relocation services just got stronger. When moving out of town, out of province or out of Canada, you can start the buying process right here at home. Too often, homeowners believe it is up to them to find an agent in the community in which they are moving. But that’s simply not the case. Royal LePage’s key strategic partnership with Brookfield Global Relocation Services allows me to work with agents around the world on behalf of my clients.

My global reach was broadened last month when Brookfield purchased Prudential Real Estate and Relocation Services (PRERS), a recognized leader in employee relocation and real estate franchising. The addition of PRERS to Brookfield’s existing residential real estate franchising and employee relocation services businesses establishes Brookfield as the world’s second largest employee relocation services provider and the third largest residential real estate franchising business.

Through its various brands, Brookfield’s residential real estate franchisees are now present in all 50 U.S. states, 10 Canadian provinces, Mexico and Portugal, with a network of approximately 80,000 real estate agents, 2,800 real estate brokerage locations and more than $150 billion in annual residential real estate transactions.

U.S.-based Brookfield Global Relocation Services moves nearly 85,000 families in and out of over 125 countries around the world each year. With the acquisition, more than one-third of Fortune 100 companies are its clients. In addition, Brookfield is now the largest provider of relocation services to government, with long-term relationships with the U.S. and Canadian governments.

The acquisition greatly strengthens Brookfield’s existing U.S. business and results in the expansion of its operations in nine countries, with a rapidly growing presence in China, Brazil and India.
My success over the past 20 years has not been restricted to the west GTA, but has included representing thousands of clients who have needed to relocate. Being tapped into a global leader such as Brookfield gives me access to a wealth of expertise and resources.

In addition to helping individuals move, The Dan Cooper Team has the depth, scope and scale to provide a full array of services for corporate clients and the employees they transfer.

This is an example of how The Dan Cooper Team’s creativity, perseverance and determination are paying off for our clients. We use leading-edge online strategies and old-fashioned hard work to sell homes faster and for more money.

If you need to relocate or know of someone wanting to move to the Oakville or Burlington areas, give us a call. We have the expertise and resources to make the move stress-free.

Posted in Brookfield Global Relocation Services, Moving, Relocation, Statistics | No Comments »

Looking for a strong finish in home sales for 2011

Monday, December 12th, 2011 by Dan Cooper

October and November were two of the strongest months for The Dan Cooper Team as we bucked the trend for the Oakville and Milton areas, and remained on track with what was happening in Burlington and the GTA.

There was a cooling in sales in the Oakville area in November, according to the Oakville, Milton and District Real Estate Board (OMDREB), but Hamilton/Burlington and Toronto enjoyed increases in listings, sales and average sale price.

“The increase in transactions has been broad-based, with strong growth across low-rise and high-rise home types throughout the Greater Toronto Area,” says Toronto Real Estate Board President Richard Silver. “The market has also become better supplied, with annual new listings growth outstripping that of sales. As this trend continues into 2012, we will see more balanced market conditions.”

The average price in the GTA for November transactions was $480,421, representing an increase of almost 10 percent in comparison to $437,494 in November 2010.

In the Hamilton and Burlington areas, average prices rose 7.8 percent for homes and 6.1 percent for condominiums. This was for all transactions under the Realtors Association of Hamilton-Burlington, which takes in Glanbrook, Dunnville and Caledonia. Burlington on its own witnessed a 13.8 percent increase in the average sale price last month – $421,008 in November compared to $369,874 the same month last year.

So what happened in Oakville/Milton? The OMDREB says this is a traditional slowdown as consumers busy themselves preparing for the holiday season. It says overall sales in November compared with the same month last year were down 5.9 percent. Oakville, however, saw a 5.5 percent increase in sales, but experienced an almost static position in the average sale price. The average price in November was $588,557 compared with $589,354 in November 2010.

“While we are experiencing the traditional drop in sales that occurs during the winter months, we remain on track for a strong finish in 2011,” says OMDREB President Jack McCrudden. “As long as interest rates remain at their current historic lows, demand for housing in the Oakville/Milton market will remain strong.”

The key to selling your home is to choose an experienced realtor who will market your home effectively. Innovative advertising, knowledge about the marketplace, commitment and exemplary service differentiate The Dan Cooper Team. The result is that we are achieving accomplishments that illustrate the Dan Cooper difference. We have been the Number 1 team in Canada for Royal LePage for seven of the past 11 years, which is a testament to our ability to sell homes quickly and for the best possible price in the Oakville and Burlington areas.

Posted in Burlington Real Estate, Oakville Real Estate, Real Estate Market, Selling, Statistics | No Comments »

Housing market to remain strong to year end

Wednesday, October 19th, 2011 by Dan Cooper

The resale housing market continues to show strong gains as we enter fall. And if low mortgage rates continue, we’re looking forward to a vibrant market through to the end of the year.

Record low mortgage rates remain the most significant factor in buyers’ housing purchase decisions, according to Jack McCrudden, president of the Oakville, Milton and District Real Estate Board. “Even though recent Statistics Canada figures indicate a decline in consumer confidence across the country, homebuyers in this area are still influenced by record low mortgage rates and increased choice in the housing market.”

Similar opinions are being expressed in the Hamilton/Burlington area and Greater Toronto.
Ann Forbes, president of the Realtors Association of Hamilton-Burlington, says, “We are heading into the fall market with positive reports on the market. In general, we are seeing better-than-average results across the board when we look at last year and the 10-year average.”

And in Toronto, Jason Mercer, senior manager of market analysis for the Toronto Real Estate Board, says, “Strong price growth through the first nine months of the year was mitigated to a great deal by low interest rates and rising incomes. As buyers continue to take advantage of the affordable home ownership options in the GTA, we remain on pace for the second best year for sales under the current TREB market area.”

What are we talking about exactly?

In Oakville, sales were up by 3.5 percent and the average selling price increased five percent in September compared to the same month last year. Year-to-date, the average sale price is up by 8.5 percent to $608,301 from $561,197 this time last year.

The biggest gains were witnessed in Milton, recognized as one of the fastest growing communities in Canada, where the number of sales increased by 39 percent and the average price jumped by 16 percent last month compared to September 2010.

In Hamilton and Burlington, the condominium market saw the largest gain with a 13.9 percent increase in the number of sales when compared with September last year. Prices, however, dipped slightly (less than one percent) last month. The area covered by RAHB includes Grimsby, Dunnville and Caledonia. Burlington alone saw the number of sales increase by 11.4 percent, but experienced a drop in pricing by 3.8 percent in September compared to September 2010.

Sales in Greater Toronto were up 25 percent and the average selling price for detached, townhouse and condos were all up about nine percent in September compared to the same month last year. In fact, over recent months the number of listings has improved so the Toronto board expects homebuyers will have more to choose from in the months ahead.

McCrudden appears to sum up the current climate with these comments, “If low mortgage rates continue, we’re looking forward to a strong market through to year end.”

Whether you are buying or selling, it is important to work with a broker who is familiar with the area, has a professional team, strong marketing initiatives and a proven track record for providing results. At The Dan Cooper Team, we are available for our clients 24/7, we have an innovative and effective marketing program and we are selling homes for top dollar – fast. For more information or a free home evaluation, call the Dan Cooper office.

Posted in Real Estate Market, Selling, Statistics | No Comments »

Does growing sales volume mean the housing market is heating up?

Monday, July 11th, 2011 by Dan Cooper

We are now at the halfway mark for the year and the housing market has been quite interesting to say the least. After a slow start in the first few months, the market appears to be steadily improving with the volume of sales making double-digit gains.

The number of homes sold in Oakville increased by 16.8 percent in June. This followed an 11-percent increase in May and heralds a strong market for resale homes, according to the Oakville Milton and District Real Estate Board. “Sales have increased for the second month in a row,” says Jack McCrudden, President of the real estate board. “At the same time, prices are moderating, encouraging more buyers into the market.”

Meanwhile, the number of new listings, those homes being put on the market, is relatively consistent. So we have the number of homes being sold outpacing the number of homes being listed. McCrudden, however, says there is still room for sellers wanting to attract interested buyers. “If interest rates stay as they are, the Oakville, Milton area can anticipate a healthy market over the next few months, with opportunities for both buyers and sellers.”

That’s certainly good news for anyone wanting to sell their home, but also signals the importance of selecting a broker who truly knows the market and is able to market your home effectively. Carefully check the broker’s credentials – how long have they been established in this market, how are they marketing their homes, how efficient are they, and what are their results?

What’s happening with prices? In Oakville, the average price of a home dropped 3.5 percent to $599,504 in June compared with June last year. In Milton, the average price increased three percent.

For the first six months of the year, however, the average price in Oakville increased by seven percent, and in Milton it increased by four percent.

The statistics for Burlington had not been released as I was writing this column, but Burlington has typically been on par with Oakville, so I suspect the story is much the same there.

For Greater Toronto, home sales were up a whopping 21 percent in June compared with June 2010. This number represents the third best June on record – behind 2007 and 2009. “This strong June result capped off an interesting first half of 2011,” says Toronto Real Estate Board President Richard Silver. “The pace of sales was a bit sluggish at the beginning of the year, but rebounded in May and June. Because of the positive affordability picture, homebuyers remained confident in their ability to purchase and pay for a home over the long term.”

The average price for June transactions in Greater Toronto showed a 9.5 percent increase.
As we see the market continuing to rebound, I have to emphasize how important it is to select an effective broker; someone who will ensure you sell your home for the best price possible. Are they using the best print options, how effectively are they using the internet, on what websites and how often is your listing going to be profiled, are they utilizing new technology such as QR codes? The Dan Cooper Team is proud to being doing all of this and more. Our track record speaks for itself – top team in Canada for Royal LePage in seven of the past 10 years. It’s an accomplishment we are proud of and one that our clients have appreciated when we sold their homes quickly and for top dollar.

Dan Cooper is an award-winning broker with Royal LePage Real Estate Services Ltd., Brokerage – the Number 1 Royal LePage Team for Canada in 2009. He can be reached at 905.338.3737, direct line at 905.849.3303 or through his innovative and interactive website at DanCooper.com. Be sure to catch the Dan Cooper Real Estate Series on DailyWebTV.com. For his free booklet How To Sell Your House For Top Dollar – Fast! or his Guide to Oakville Real Estate, please call The Dan Cooper Team.

Posted in Burlington, Milton, Oakville, Real Estate Market, Selling, Statistics | No Comments »