market stats • December 5, 2024

November 2024 Housing Stats CLAR®

by Denise Liboiron

Central Lakes Association of REALTORS® Report November 2024 Housing Statistics

In November 2024, Durham Region recorded 739 sales, a notable 39% increase from the 532 sales reported in November 2023. The average home price in the region rose slightly, from $880,089 to $904,226 during the same period.

Hastings County experienced a 13% increase in sales, with 128 transactions compared to 113 in November 2023. While sales grew, the average price saw a modest decline, dropping from $542,897 to $527,354.

In Kawartha Lakes, sales saw significant growth, with 101 transactions in November 2024 compared to 57 the previous year. The average price in the area also rose, increasing from $678,009 to $715,196.

Northumberland County reported a 56% rise in sales, with 106 transactions in November 2024 compared to 68 the previous year. The average price experienced a slight dip, moving from the November 2023 average price of $753,273 to $741,262.

The Peterborough region saw a 25% increase in sales, with 125 homes sold compared to 100 in November 2023. The average price decreased by 7%, from $668,674 to $622,002.

Prince Edward County experienced a 65% increase in sales, rising from 20 in November 2023 to 33 in November 2024. At the same time, the average price decreased from $874,993 to $720,367.

CLAR Chief Executive Officer, Wendy Giroux, highlighted the organization’s commitment to supporting local communities during the holiday season. “As the holidays draw near, Central Lakes Association of

REALTORS® is proud to give back through our annual Charity Auction fundraising events. This year, we are honoured to support four local Habitat for Humanity organizations, each with active builds in our regions and community food banks. At CLAR, we believe that everyone deserves access to safe and affordable housing, and we are dedicated to making a meaningful difference by contributing to these

essential shelter-related causes.”

For more information or to book an interview, please contact:

Uncategorized • December 5, 2024

New Mortgage Rules December 15 = More Affordability for Buyers

by Denise Liboiron

Big Affordability Change for Buyers

What is the new amount of mortgage down payment needed to purchase a home starting December 15 2024? Instead of $300,000 it is now possibly just $150,000 if the home price is $1.5m The value of the eligible residential property against which the loan is secured must be less than $1.5 million, and the downpayment required is:

5% on the portion of a purchase price up to $500,000 and

10% on the portion of a purchase price between $500,000 and $1.5 million.

So 5% on the first $500,000 = $25,000

Remainder portion if home is $1.5 = $100,000

Downpayment on a $1.5 m home December 15 2024 = $125,000

* for those who qualify and are eligible. Of course always speak to a mortgage provider for more info – this is just a general exercise to illustrate the new Mortgage rules…which are relaxing downpayment demands on homes up to $1.5m homes.

Increasing the $1 million price cap for insured mortgages to $1.5 million

“This measure would apply to all borrowers requiring high loan to value mortgage insurance in Canada and must satisfy the following requirements:

The total loan to value is greater than 80 per cent;

The value of the eligible residential property against which the loan is secured must be less than $1.5 million; and,

The down payment requirements for the loan are as follows:

5 per cent on the portion of a purchase price up to $500,000.

10 per cent on the portion of a purchase price between $500,000 and $1.5 million.

Other Parameters

Effective date: These measures will be available for mortgage insurance applications that lenders submit to mortgage insurers on or after December 15, 2024.

These measures will only apply to high loan to value mortgages on properties occupied by the borrower or a close relative.

All other eligibility criteria for government-guaranteed mortgage insurance will continue to apply.”

More New Mortgage Criteria and Rules such as the 30 Year Amortization are at the Government

More details on Mortgage Rule changes here at this Government Site Link:

https://www.canada.ca/en/department-finance/news/2024/09/delivering-the-boldest-mortgage-reforms-in-decades.html?fbclid=IwY2xjawG_A-tleHRuA2FlbQIxMQABHbUgID2TSxeaXVQ58M8hBRZTeEdVg6YFpfJT98lV6f1MFQDoIVS5VkUG9g_aem_gak8u1O1cztbal51IJoevw

CMHC new PROGRAMS offer Financing for Home Upgrades to add more units and New Construction

by Denise Liboiron

Flexible Financing for Home Upgrades and New Construction

CMHC Improvement is for homebuyers purchasing an existing home that requires some work or building a new home from the ground up. The product offers insured financing up to 95% of the “as-improved” value for 1- or 2-unit owner-occupied properties, and up to 90% for 3- or 4-unit properties. Down payments are based on the lower of market value or purchase price or cost of construction. CMHC Improvement makes it easier for clients to finance their residential property purchases or home improvements with lower down payments. Click the link to find out more information and how to qualify for their programs!

https://www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/mortgage-loan-insurance/mortgage-loan-insurance-homeownership-programs/improvement#:~:text=CMHC%20Improvement%20is%20for%20homebuyers,%2D%20or%204%2Dunit%20properties.

Commercial Real Estate • Commercial Real Estate • November 6, 2024

Spectacular Investment with Flexible Potential for Live-Work or Multiple Units.

by Denise Liboiron

Commercial Main Floor Retail Space that uses the 2nd Floor as Office Studio & Warehouse & Storage plus finished Lower Basement Level with Storage & Staff Room and 2 Baths & Utilities Sink & Closet. The RESIDENTIAL is located on a fully Finished 3rd & 4th Floor with 800 Sq Ft Rooftop Deck. A Gorgeous Contemporary Living Space!
MLS # X9310245 $1,899,000.00

Business for sale also for $149,000.00 or the Owner Operator will RENT BACK the business space.

Call for more information on this Spectacular Investment with Flexible Potential for Live-Work or Multiple Units. Exceeds all Expectations. A Meticulous Makeover of a c.1870s 4flr Historic Brick Bldg. An Exemplary Renovation top to bottom. Live, Work or Invest in a Gorgeous Residential & Commercial Empire steps to the Beach/Marina/VIA Station. 100km to Toronto. 3Bedroom+ 5Baths. Custom, High-end workmanship & designer finishes: Canadian Maple Hardwood flooring, Vaulted Ceiling, Contemporary Kitchen & Designer Baths, Built-in Cabinets, Slider Barn Doors. Unique Arched Windows bring in sunlight glow & blue sky views over a boutique downtown. A large Northside Living Room w/ Glass Doors walks out to an 800 sq ft Rooftop Terrace. Wow! Personal Lift Elevator to 3rd Floor. Guest BR & Beautiful 4pce Bath on 3rd FL Living Level. The 4th Fl Loft BR Suite is Apartment-sized w/ a convenient Laundry/bath combo & a Walk-In Closet. 2nd Floor Studio or Office Space overlooks the streetscape & has potential as Residential Unit with existing 3pce Bath & 2 large Rooms used for Storage/Warehouse Space. Walk out to back or downstairs. Could convert to 2nd Res Unit. A Vibrant Retail Clothing Store provides income on the 1st Floor. Features Contemporary space with Large Retail Display windows & outdoor display area on the busiest main street 100 KM to Toronto. Completely finished clean basement w/ Staff Room, Storage, 2 -2pc Baths & a Utility Sink & Closet. This is a Showstopper Investment truly Turnkey plus potential for added units. 4+ Parking spaces & it backs onto a public park lot. *Business is also for sale for those who want a live-work building! (Owner may rent back Commercial until Business is sold.) Potential on 2nd Floor for more living space or office, studio or commercial rental space. Buyer to investigate all intended uses but it could make a great second floor expansive Residential unit. Heat Pump upper floors. Gas MN Floor. A must-view beautiful opportunity with Rooftop Patio in the heart of town.

Uncategorized • October 21, 2024

Incredible Price Drop! $199,000 for this Commercial Condo w/ Garage Space in Downtown Cobourg

by Denise Liboiron

!!Superb Price!! for this compact but turnkey & easy on the Overhead Retail or Office Space! A Commercial Condo with Garage Space Downtown for $199,000! Investment INCLUDES a coveted Surface Garage Space in the back courtyard. A Chance to get a Prime Retail Storefront in busy, growing & popular destination Downtown Cobourg Tourist & Anchor business district with a few steps to the beach & marina. This Main Street Commercial Condo is Approx. 500 Sq Ft. of space that is easy to maintain with low overhead. Now Vacant & ready for your business or you can set the rent for the next tenant. Large Display Window & Glass door lookout to the bustling Main Street. A character heritage streetscape in a historic condo conversion development. Exposed Brick accent wall adds interior charm . The contemporary updates brighten the welcoming space. Modern updated flooring, a Faux Tin ceiling, a 2Pce Bath, a small Office Or Staff Area in Back & a back door out to a small sitting area for staff or owner & the parking garage area & courtyard to your own covered garage space . Perfect turnkey unit with no maintenance – condo plows the parking area. Great for small retail or professional office space. Locate well in a bustling, almost-filled to capacity Downtown with the perfect mix of Shopping, Dining, Tourist & Business plus Residences all close to the Lakefront, Marina & Sparkling Beach. Vibrant, Growing Destination 100 km East Of Toronto via the 401/407route or a 1 hour ride to the city on the VIA Train, (newly built station 1 Block up the street.) The GO is close by in Oshawa & soon to be in Bowmanville. Condo Fee $223.41/m includes water, bldg insurance, common elements maintenance.
Exposed Brick accent wall. Large display window. Change room. 2Pce Bath. Small Office Or Staff Area in Back & a back door out to a small sitting area for staff or owner. Covered Parking garage space. Display or cafe table area out front.

September 19, 2024

Fall ’24 Summary of Key Developments in the Real Estate Market

by Denise Liboiron

I want to provide a summary of the key developments in the real estate market and the general changes in the investment and economic scene in Canada and the US from the past week.

I receive inquiries from individuals who are either uninformed about the current real estate market conditions or are relying on outdated information. Given the market’s complexity and ever-changing nature, it can be overwhelming to process the constant influx of information. This is where a well-informed REALTOR® can distill the information, helping you make informed decisions.

Feel free to contact me to discuss the latest happenings in the real estate market.

Did you know the Fall Market is witnessing a shift in sales activity following two sluggish years? Things are moving much faster. Call for details if interested in recent sales activity.

Here are some updates that are sure to affect the Real Estate Market going forward

–Canada’s inflation rate dropped to the 2% mark last month, meeting the Bank of Canada’s target rate. This achievement was the rationale for the ten interest rate hikes since 2022. Since June 2024, there have been three rate cuts of 0.25 basis points each, aiding mortgage approvals and affordability for numerous homebuyers, as well as benefiting those with lines of credit interest.

Inflation has decreased, which should lead to lower prices for everyday necessities. The upcoming Inflation Print will serve as an additional indicator of economic conditions influencing the Bank of Canada’s rate decision on October 23, 2024. There is speculation that the rate could drop by 0.50.

— The US Federal Reserve reduced its rate by 0.50 basis points yesterday. The actions of the US regarding their interest rates also have an impact on our Canadian rates. The US Federal Reserve has just cut its policy rate by 0.50 basis points. Many suggest this paves the way for the Bank of Canada to make more aggressive cuts to a 0.50 rate on October 24, with further reductions possible if the economy persists at a lower inflation pace.

Adding to the stream of decisions and influences on the housing market are two other changes.

— CMHC has recently raised the cap on their insurable mortgage amount to $1.5 million. This indicates an increase in purchasing power, enabling more individuals who typically could not buy through the CMHC mortgage insurance program to make a purchase.

— Thirty-year amortizations are now an option, offering greater affordability for qualifying for a mortgage or managing monthly payments. However, this also means that over the span of thirty years, more interest will be paid.

These signals can suggest an uptick in the housing market sales activity going forward after a sluggish 2 year market.

— Unemployment Numbers up. Another view to consider in the economic landscape is the unemployment rate in Canada, which increased to 6.6% in August 2024, up from 6.4% earlier in the month. This marked the most significant rise in unemployment since October 2021. Market expectations were set for a 6.5% increase, but the actual figure reached 6.6%. The Bank of Canada’s Governing Council had anticipated a weakening in the labor market.

It is important to consider the backstory regarding the rise in unemployment. This increase may be linked to the dynamics of the labor market during and after the pandemic. In the summer of 2022, one in three businesses experienced difficulty in hiring staff due to labor shortages. Part of this issue stemmed from employers’ desire to offer lower wages, which led to challenges in filling positions, while another contributing factor was the significant retirement of Baby Boomers. Consequently, many employers were in search of workers to fill numerous vacancies, particularly in lower-wage positions. Canadian workers were seeking higher wages or had skills that commanded better pay. In response to these challenges, the Government of Canada modified the Temporary Foreign Workers program to relax the rules for temporary foreign workers, among

other initiatives. This program facilitated the hiring of foreign staff by businesses in the absence of Canadian labor, allowing for the importation of additional workers to fill job vacancies. However, this program has since been scaled back, potentially leading to more job opportunities in Canada due to the decrease in imported labor.

The impact of various factors on the economy may not be immediately apparent, yet it is valuable information to consider. Numerous questions and forecasts exist, but the data is constantly shifting, and there is a delay in how market activity reacts to these changes. I make an effort to stay as informed as possible. Although I am not an economist, accountant, or mortgage specialist, I do strive to stay in tune with major developments to better inform my own real estate investments and especially to assist my clients in their significant decision-making processes.

If you want to discuss current Real Estate market activity or pricing I have the information for you and can discuss the sales statistics. I am happy to help.

Denise Liboiron, REALTOR®

Real Estate Sales Representative

Century 21 All-Pro Realty (1993) Ltd

905-372-3355 office

289-251-2190 mobile/text message

www.deniseliboiron.com

Commercial Real Estate • June 22, 2024

Downtown Cobourg Commercial 2 Commercial Condo Units in PRIME LOCATION steps to the marina and lakefront/beach

by Denise Liboiron

Buy Unit A & Unit B for $699,000 Imagine your New Office And Retail space in the heart of Cobourg Business Commercial & Tourist District

79 King St W Cobourg ON You can Buy Both Unit A & Unit B together or buy one or the other! A shared vestibule entrance and 2 Superb Commercial Condo Units. Well-renovated! Connected by a shared Vestibule on busy main street. Bothhave large Display Windows. Unit A has 4 Offices, Reception, Two 2-pce Baths R/in, Storage. Unit B is Open Retail space. High Ceilings. All Newer Flooring. Locate your next investment in this in-demand district, the bustling Downtown Heritage Street in Cobourg’s business, boutique & tourist district. Steps to the Marina, Harbour ,Lakefront, Esplanade & Beach. VIA Station is 1blk north. 401 close by. 100KM to Toronto for commuters. Set amongst Key Anchor Tenants, Banks, Financial & Professional Services, Victoria Hall, Art Gallery, Concert Hall, Restaurants, Cafes in the Business, Shopping, Entertainment & Tourist District. Unit A Tenant pays Condo Fees$930.11/m, Property Tax, Heat/Utilities. (Condo fee covers: Water, Bldg Insurance, Common Elements, Reserve fund, Property Mgmt.) Gross Income $18,288.00 Unit B is currently Owner-Occupied. Owner will rent back or vacate TBD

Buy Unit A & Unit B for $699,000

BUY UNIT A 79 King St W Cobourg $349,000

Professional Offices Investment Opportunity! Superb, renovated Commercial Condo with Large Main Street Display Windows, 4 Offices, a Reception Area, Two 2-pce Baths R/in, Storage. Located well in a busy Downtown heritage streetscape in the business, boutique & tourist district steps to the Beach/Marina. Select your next investment in this in-demand district just Steps to Marina, Harbour, Lakefront, Esplanade & Beach. VIA Station is 1blk north & 1hr to Toronto for commuters. Unit shares entry vestibule common area w/ adjacent unit w/ Tenant in place. Set amongst Key Anchor Tenants, Banks, Financial & Professional Services, Victoria Hall, Art Gallery, Concert Hall, Restaurants, Cafes in the Business, Shopping, Entertainment & Tourist District. Tenant pays Condo Fee $493.69/m, Property Tax, Heat/Utilities. (Condo fee covers Water, Bldg Insurance, Common Elements, Reserve fund, Property Mgmt.) Gross Income $18,288.00 Cap Rate 4.6% Solid Tenant Business Offices Lease just renewed 10/31/24

BUY UNIT B 79 King St W Cobourg $349,000

Prime Retail Storefront! Beautifully renovated Contemporary Commercial Condo next to Victoria Hall. Owner-occupied Large Main Street Display Windows. High Ceilings. Updated flooring & lighting. Dedicated 2 Pce bath in common area. Unit shares big & bright entry vestibule off King St w/ the adjacent Unit that has a long term Tenant in place & is also for sale! Can buy together for price discount. This Yoga Studio & Healing Shop is Located in a busy Downtown heritage streetscape in the boutique & tourist district steps to the Lake, Beach & Marina. A growing downtown that is nearly filled to capacity. Select your next investment in an in-demand district with the VIA Station 1blk north & the 401 nearby. Just 100KM to Toronto for commuters. Locate amongst Key Anchor Tenants, Banks, Financial & Professional Services, Victoria Hall, Art Gallery, Concert Hall, Restaurants, Cafes, Shopping, Entertainment to help you thrive in good company. Tenant pays: Condo Fee $436.42 + Tax, Heat/Utilities.

Uncategorized • April 24, 2024

Cobourg New Build Topsoil/Sod and Sidewalk Installation happening !!

by Denise Liboiron

BIG NEW BUILD ANNOUNCEMENT: Topsoil & Sod for lawn and Sidewalk Installation is happening by end of April 2024 ~ very soon ~ per builder letter/update just received! That will make your move in to the shiny new home even more beautiful!

This BRAND NEW Tribute Home is vacant and ready for your new dream lifestyle in Cobourg’s new Tribute Home Community! Be the first to live in this beautiful home. The HST and the Tarion Warranty is already paid for! This is an incredible savings value for a new build you rarely will have the chance to enjoy. So many wonderful features including:
State-of-the Art home with hi-tech upgrades for safety & convenience plus Energy Conservation features and an
*****EV Charger point in Garage*****
For Sale $1,288,000 MLS® X8182738
or
For Lease $3,500 MLS® X8183542

533 Hornbeck St Cobourg ON K9A 4A1
This BRAND NEW Tribute Home is vacant and ready for your new dream lifestyle in Cobourg’s new Tribute Home Community! Be the first to live in this beautiful home. The HST and the Tarion Warranty is already paid for! This is an incredible savings value for a new build you rarely will have the chance to enjoy.

So many wonderful features including:

State-of-the Art home with hi-tech upgrades for safety & convenience plus Energy Conservation features and an
*****EV Charger point in Garage*****

EXTENSIVE LIST OF FEATURES & UPGRADES INCLUDES:
*****Electric Vehicle Charging Point in Garage ***
PRE-WIRED Wide Band width Video Cable * High Speed Data Cabling ~ Ethernet
Roughed-In Security wiring to all doors & windows + Motion Detector locations
Tribute Smarter Home Mobile app including
Smarter Home Thermostat
Smarter Home HVAC Performance
Smarter Water Leak Sensor
Smarter Home Light Switch
Smarter Home Video Door
Energy Conservation Features
Tarion Warranty Coverage

Just completed! Vacant & never lived-in yet the HST is already paid! Brick Home w/ Covered porch entrance has Commanding Presence in Tribute New Home community. 2700 sq ft (approx.) deluxe living space, 4 Bedrooms, 3 Full Baths + 2pce, Many Upgrades$$ Main floor offers 9ft ceilings, high-grade laminate flooring, perfect layout for entertaining w/ sliding glass doors walkout & a Cozy Gas FP in Family Room for guests. Chefs will enjoy the Deluxe Kitchen w/ Quartz Counters, KitchenAid SS Appls. MN FL Den for WFH. Unwind in the spa-like Primary Suite featuring a 6-piece ensuite w. Sep Shower, Bath Tub & 2 Walk-in Closets. A beautiful home ownership opportunity to live in pure comfort & style. Only 2 Mins drive to 401, 5 Mins to Via Rail for commuters & day trippers (1hr or 100km to Toronto by car or train), close to Hospital, Grocers, Malls. 10 Mins drive to Cobourg’s Famous Beach/Marina/Lakefront & Boutique Tourist Downtown.

Uncategorized • Uncategorized • Uncategorized • April 16, 2024

PRICE REDUCED 4 UNIT FIXER-UPPER INVESTMENT PROPERTY

by Denise Liboiron

MLS®#X7401664 $699,000 221 WALTON ST PORT HOPE ON

4-Unit Legal Income Property! Historic Brick Character in Architecturally-rich Port Hope. Jump start your retirement plan. Begin or add to investment portfolio. Tenanted 3512 sq ft circa 1880s property with Charm, Covered Front Porch detail work. Addition in back looks to Ravine & forest. NEEDS RENO. ROOM TO IMPROVE IN A FANTASTIC LOCATION. Acquire this investment Property in a superb location at the top of the street in beautiful historic Downtown Port Hope. Well-located for Tenant’s convenience, close to all amenities including new Loyalist School. Your Tenants may appreciate strolls along the Ganaraska River or browsing the boutiques & dining at all the fab cafes, restaurants & bars just steps away. Specialty Food boutiques & Grocers & Convenience stores nearby. 401 & VIA station nearby for Commuters. 100 KM to Toronto. Locate well in one of the most beautiful small towns in Ontario to invest in. Could also be reclaimed as single family home conversion. Needs some TLC. Not renting at Market Rents but allows room to improve this one!

Extras: Covered Front Porch. Historic Trim work. Roof: May 2004 Boiler pump: new 2021. Basement ready for Laundry Hookups.

Inclusions: N/A. Historic Brick 1880s Character in Architecturally-rich Port Hope

Uncategorized • Uncategorized • Uncategorized • Uncategorized • Uncategorized • April 16, 2024

UPDATE RE COBOURG TRAILS NEW BUILDS. GRASS SIDEWALKS AND PAVING GOING IN APRIL!!

by Denise Liboiron

Please see attached information from the builder regarding the grass installation and sidewalks and paving starting in April! This is great news!! My listing photos have the “virtual grass” to show how it will look for now but it will be getting all the finishing touches in April! So lovely to know — it will be move-in ready very soon.