November 28, 2008
Naomi Carniol published an excellent article in yesterday’s Toronto Star about the pros and cons of cottage ownership in Ontario.
The argument between whether a cottage is a luxury item or a investment vehicle has been debate for as long as I have been in the business. Personally, I have always sided halfway in the debate: that cottages are a lifestyle investment as well as a financial one.
When compared to what has recently happened in the equity markets, I think recreational real estate remains one of the best deals around. Albeit not as liquid an asset as stocks or mutual fund, for those seeking a more stable, conservative investment strategy, waterfront real estate is an ideal place to investment. After-all, I’ve never known anyone to spend a summer holiday on their mutual fund portfolio. 
Make sure to check out Ms. Carniol’s excellent article here, http://www.thestar.com/article/542986.
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November 23, 2008
According to last Friday’s “Beacon Star”, the 49,000 property taxpayers that comprise Parry Sound District will see an average assessment increase of 7.3 % in the 2009 property tax year.
Residential property values have increased 30 per cent in the District of Parry Sound since 2005, when the last assessment was completed, a spokesperson from MPAC’s Parry Sound office was quoted.
If you have a concern with your MPAC assessment, feel free to contact them directly call 1-866-296-6722 or visit their website at www.mpac.ca. You have until March 31st of next year to file a a request for reconsideration.
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November 21, 2008
Check out the number of enhancements that were made to the REALTOR.ca website yesterday.
The first major change is a new home page in the residential section. Redesigned to eliminate consumer confusion on, the default now is to a “Quick” search, with the option for users to search using the interactive map. The pop-up window has been eliminated. The results page has also seen a re-designed making both the photos and the interactive map space smaller.
Additionally, the address has also been added to the thumbnails. Zoom level restrictions on the interactive map have also been removed, in response to consumer complaints the site does not respond because of the number of properties in an area. Prior to this change being affected, users would hit the restricted zoom level without displaying properties, creating the impression the map was zooming in and out, in effect “out of control”.
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November 20, 2008
The Parry Sound real estate market has exceeded most people’s expectations, and although total unit sales are down from the previous year, the downturn is not as pronounced as in other cottage markets (Muskoka and Haliburton, for example).
For people looking to sell their Parry Sound area home or cottage, proper pricing is more important than ever. While we have yet to see enough sales to accurately measure a trend, prices are definitely softening and I feel this will continue for at least the next six months.
As many economists are predicting mortgage rates to remain stable or edge lower, we are seeing some of the best buying opportunities in years. Listing inventories remain higher than normal giving buyers plenty of inventory to choose from.
Overall, the situation the U.S. housing market finds itself in won’t extended to Canada, as our regulators and banks have better managed the excessive mortgage lending practices than our neighbours to the south.
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