The Toronto Real Estate Board reported that in July the average price of resales was up 6% over last July and sales were through the roof. Condo sales in Toronto are on fire! I have not seen this enthusiasm spread to condo life in Oakville for condos over 500K. In my opinion it is only a matter of time before this surge hits the higher priced units and we see high end inventory start to shrink and prices rise. After a tough start to the year the next price change for higher end condos on the market may be UP!
Cheers..Doug Izon P. Eng. Real Estate Broker, Century21 Dreams 905-599-1265 www.EyesOnOakville.com; Mortgage Broker, AMP, Centum Total Mortgage Services Inc. Lic # 10646 www.TotalMortgageServices.ca
In December 2008 in Oakville we sold 8 homes for every 100 homes for sale (8%). During the last 30 days we sold 40 homes in Oakville for every 100 for sale (40%). This is now a very healthy market.
Homes in the lower price ranges are selling well. Higher priced homes/condos continue to sit ignored and forgotten as buyers are still licking their wounds from the stock market and banking meltdown. If you are a trend follower you may say buy a home where there is lots of action. In this case you would buy into the lower market segment that is active and has increased from its lows.
Eventually the pendulum swings and the higher priced properties will again be courted. They can only be ignored for so long. I am sitting in a high end condo doing an open house today where there are 13 listings and nothing has sold in 3 months. This will not last. The contrarian would buy the higher priced property now, when demand is low, sellers are frustrated, and prices are soft. The opportunities are many, the risks are relatively low and my contention is now is the time to buy. Now is the time to buy that property that you could not afford 7 months ago. You may not be able to afford it 7 months from now.
Cheers..Doug Izon P. Eng. Real Estate Broker, Century21 Dreams 905-599-1265 www.EyesOnOakville.com; Mortgage Broker, Centum Total Mortgage Services Inc. Lic # 10646
Well here we are almost in April waiting for a sale in 111 Forsythe. There are12 properties available on MLS priced between $625000 and $2,160,900. Three of these are for rent and there are seven others for rent. 19 of the 68 units in the building are available on MLS. Daniels is also selling through their sales office approximately another 5 units. This activity is not uncommon when a Condo is registered and people take title of their units. Keep in mind that things change in the 3 years that have passed since many signed on. I believe that when the snowbirds come home, the stock market continues to improve, and the warm weather comes so will the sales. With inventory high and interest rates low this may just be the time to buy. For more details on 111 Forsythe please visit http://www.111forsythe.com
Cheers..Doug Izon P. Eng. Broker Century21 Dreams 905-599-1265 www.EyesOnOakville.com
Last weekend was the Grand Opening of the “BeachHouse” development by Branthaven Homes. http://www.branthaven.com/brancontent.html This development is directly on Lake Ontario on Beach Blvd in Hamilton. I always like unique properties. They have 29 of the 55 townhomes in the project that face directly on and are only 50 m from Lake Ontario. Branthaven sold many of the townhomes though individual appointments with clients who pre registered. When I arrived on the Sunday of the Grand Opening weekend they had 8 homes left with 3 on the water. Prices on the water are $450K for 1400 sq ft over 3 levels. Congratulations to Branthaven on selling 80% of this unique project. They are doing something right to have such success in a very competitive market. Cheers Doug Izon, P.Eng., Broker, Century 21 Dreams Inc. 1-800-605-5909 www.EyesOnOakville.com firstname.lastname@example.org
I was invited to an agents reception and a glimpse behind the gates of Edgemere Estate yesterday. I attended with four fellow realtors from Century 21 Dreams and all I can say is WOW. To quote the invitation “Edgemere will soon be home to a community of twenty-eight private condominium residences built with the highest integrity – redefining luxury, waterfront living. Residences measure from 3,600 square feet on one level to over 5,500 square feet on two levels. Prices begin at $4.6 million.” The estate home that will be removed from the site is stunning and is the nicest home I have entered in Oakville. It will be replaced by 10 smaller buildings. Each building will have 2-3 residences and all will have great views of Lake Ontario. The property is 12.5 acres and has 1000 feet of shoreline. If you are looking for a unique luxury Oakville address to call home this may be the one. If you are interested on following a unique development on a unique piece of Lakefront then keep your eyes on Edgemere. Please call for more information. There is a great website that gives many details and contact information. At this time they are taking reservations for the residences.
Developer: Niche Developments: Marc Hewitt
Marketing/Sales: The Invidiata Team Re/Max Aboutowne Realty Corp.,Brokerage;Tracey Dunn or Christopher Invidiata 905-842-1502
Cheers: Doug Izon P.Eng. Broker, Century 21 Dreams Inc. www.EyesOnOakville.com 1-800-605-5909 email@example.com
Developments come and go but what happened to the condo development “The Woods of Aubergine” in Lakeshore Woods community of Oakville? This development was supported by a major builder and realty company and now when I google it it seems to have vaporized. I went to the realtor reception for this development in early summer 2008 and they had their opening July 19,2008. The project appeared to be well designed, priced and marketed. I will have to do a drive by the site to see what is up. There are many condo developments going on in Oakville at various stages. Two that I am most familiar with are the 111 Forsythe development in downtown Oakville www.111forsythe.com and The Shores development in Bronte www.theshorescondooakville.com
Cheers ..Doug Izon P.Eng. Broker, Century 21 Dreams Inc. http://www.EyesOnOakville.com 1-800-605-5909 firstname.lastname@example.org