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!
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.
!!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.
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.
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.
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.
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
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.
Beautifully Built Brand-New, Detached, Family or Executive Home on Deep Lot in fantastic location. Brick Home w/ Covered porch entrance has Commanding Presence in Cobourg’s New Tribute Home community. Vacant & never lived-in yet the HST is already paid. 2700 sqft (approx) deluxe living space, 4 BRs, 3 4pce Baths + 1 2pce bath. Many Upgrades$$ Main floor offers 9ft ceilings, high-grade laminate flooring, perfect layout for entertaining w/ sliding glass drs walkout where you can build the deck of your dreams & a deep lot for potential pool! Enjoy a cozy Gas FP in Living Room. Chefs will enjoy the Deluxe Kitchen w/ Quartz Counters, KitchenAid SS Appls. The MN FL Den is a perfect WFH space with Privacy door. Unwind in the spa-like Primary Suite featuring a 4-piece ensuite w. Sep Shower, Bath Tub & Walk-in Closets. Dble Entry to Mn Bath from 2 of the Guest BRs. A 3rd 4-pce bath on the 2nd FL for the 4th Guest BR to use. This is a stunning new home opportunity to live in pure comfort & style with tarion fee & HST already paid. Only 2 Mins drive to 401, 5 Mins to Via Rail for commuters & day trippers (1hr or 100km to Toronto by car or Via Train), close to Hospital, Grocers, Malls. 10 Mins drive to Cobourg’s Famous Beach/Marina/Lakefront & Boutique Tourist Downtown. *Some Virtual Staged Photos. ex. Grass/Paving to be completed Summer 24 House has not been furnished*
Working on a Good Friday as I have to get some listings up on MLS® It goes against the grain of my Catholic upbringing but at least I am hearing the Good Friday Church bells through the open window and the birds chirping gently. It is still cold and a little dark but it always usually is or it rains on Good Friday. Easter Weekend has always been a big thing in our family and in many cultures as well surrounding the spring and rebirth ideas. It seems a little early this year… I do like the symbolism of Good Friday even if it is usually a sombre day ~ but I try to think forward past the images of the day and the stage it sets is of hope for the future… The ideas of Jesus bearing the cross and his struggles on Good Friday in the Catholic religion and then the struggles end and he rises up on Sunday and is reborn to a new life. It is about an elevated spirit. Easter is a magical time after we experience (in Canada at least) the colder and darker days and dormant nature of winter, and it is about renwewal. This is a sense of renewed energy and hope in Spring and nature is fertile and growing again. I send hope and prayers or good thoughts or meditations to all for a joyful fresh spring start and for anyone having struggles be it mental or physical health or wealth or lack, I hope this seasons helps you to feel more abundant and much better. Happy Hoppy Easter to all.
This meme is funny for a little comic relief to an often reflective and more sad-feeling day ~ a little comic relief. I like Eddie Veder’s lyrics in the song Even Flow “someday soo, he’ll begin his life again!” Seems on point for today.
Facebook
X
Pinterest
Copy Link
