By: Tracy Lilly

January 2019 + A Year in Review





Real Estate Update:

The December numbers have been released.  As you will see in the chart below, almost all communities saw home sales decline or remain the same compared to December 2017, however, home prices rose in 7 out of 10 neighbourhoods covered in this newsletter. Unfortunately, Grimsby and Dundas saw a dramatic price drop with the majority of sales coming from lower priced homes.  Grimsby and Ancaster are both currently in a balanced market as reflected by the MOI, making both of these communities a great buy right now if you’re considering purchasing a home.

Looking back over the past year, we observed that most communities saw prices fall compared to 2017. The 3 Hamilton neighbourhoods covered in this newsletter were the lucky one’s as their home values increased moderately. What was even more significant was the sizable reduction in home sales in almost all areas, only Grimsby saw an increase in 2018. The reduction in sales were mainly due to the new mortgage stress test rules introduced January 1, 2018 pushing some would be buyers to the sidelines, couple that with 3 interest rate hikes and the market went into decline. 

Looking ahead to 2019, various real estate reports are indicating a modest 1.5 - 2% increase in home prices. Home sales are expected to rise as well. Today, we will find out if the Bank of Canada chooses to raise the overnight lending rate causing mortgage rates to rise.  It was only a few months ago that the predictions were that rates would rise 3-5 times this year.  It’s now not clear if that will happen. Some forecasters believe we may even see a rate cut later this year. We’ll have to wait and see what they decide to do. 

If you’re thinking 2019 will be the year to purchase a home, then it is always the best practice to get a pre-approval. The bank will hold the current mortgage rate for 90-120 days regardless of what the Bank of Canada does, and if the rate should drop they will give you the lower rate instead. 

Overall, home value’s over the last 10 years have doubled. Some communities slightly less and others more than doubled. Real Estate has proven to be a solid investment and will continue to be a solid investment in the years to come.

For a more in-depth analysis of the market in your specific area, please feel free to call, text or email anytime.  I'm here to answer all your questions. C: 905-464-6208

Tracy Lilly
Sales Representative & Accredited Staging Professional

Cell: 905-464-6208       Email:
Office: 905-338-3737





4 Ways to Make the Home Hunting Process Easier

Shopping for a new home can be intimidating. With so many things to do and think about, it’s easy to feel overwhelmed. But it doesn’t have to be that way. Here are some good tips for making the home hunting process a lot easier and much less stressful.

1. Get your mortgage arranged in advance.
You don’t want to find the ideal home on the market, only to face problems arranging a suitable mortgage. You might end up losing the opportunity. So, make mortgage arrangements in advance by getting “pre-approved”. With that pre-approval, you can shop for a new home with confidence.

2. Clearly define the kind of home you want, and the neighbourhood you want to live in.
You can’t view every home that’s on the market. If you try, you’ll burn yourself out! So, write down a clear description of the kind of home you want. How many bedrooms? Big kitchen? Pool? 

Don’t forget to include the neighbourhood. Upscale? Close to downtown? Lots of trees and parks? Urban and close to shopping and theatres?

With this information, we can quickly create a shortlist of properties that meet your criteria.

3. Take good notes.
After viewing a few homes, you may easily start to forget the details. Was it the first property that had the large elm tree in the backyard or was that the fourth property you saw? If you take good notes, you’ll be better able to make decisions later on about which homes to shortlist.

4. Take care of yourself, and your family.
Eat right. Pace yourself. Don’t try to view too many homes in one evening or on one Saturday afternoon.

Want more ideas for finding the perfect home? Call today!


Light Your Way to a Faster Sale

Remember the last time you visited an upscale furniture showroom? The furniture and fixtures on display probably looked great. The colours and textures jumped out at you. It was a feast for the eyes!

There is a good reason why: Lighting.

Of course, the quality of the products has a lot to do with how appealing they look when on display. But smart retailers know that proper lighting is key to making those products look their best. In fact, some retailers even hire lighting consultants!

What does this have to do with selling your home quickly, and for the best price?

Obviously, when showing your property to potential buyers, you want your home to look its very best. Proper lighting can be a big help.

When preparing your home for sale, review the lighting in each room and make sure the space is sufficiently well lit. You want the lighting to be strong enough to prevent dark or shadowy areas, yet not so strong that it’s uncomfortable for the eyes.

Pay particular attention to traditionally dark areas, such as the garage and closets. Make sure those areas are bright too.

If you have a viewing scheduled during the day, take advantage of natural light through windows. Open the curtains!

Finally, one of the most important areas is the foyer. Always make sure the entrance has sufficient lighting. 

Want more ideas for preparing your home for sale? Call today.


Doorways to Better Living Spaces

When people renovate or remodel a room, they almost always overlook the door. However, changing the style of an interior door, or adding a new one, can dramatically change the look of a living space - often for the better.

Although the most common type of door is the traditional solid 6-panel door, there are many other choices available. Want to add light and a greater sense of space to a room? Consider a door with glass panels. Do you have an interior door that gets in the way when opened? Change it to a bi-fold door, which cuts the distance of the swing in half.

There are also specialty doors that are designed to block noise, and sliding doors that tuck neatly into the wall when opened.

Interior doors are typically much less expensive than their exterior counterparts. So, making the decision to upgrade or add a door to a room is an affordable design option.

Visit a door showroom and explore the possibilities.


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