By: Marilyn Rogers

Land Transfer Taxes Could Double Across Ontario

Land Transfer Taxes Could Double Across Ontario

In Ontario when someone buys a home, they have to pay a provincial land transfer tax. In the city of Toronto, there is an additional municipal land transfer tax that adds another few thousand dollars onto the cost of an average priced home. Now, the government of Ontario is thinking about making it so municipalities across the province can enact their own municipal land transfer taxes if they want to. “The Ontario Liberals wrote to us in May 2014, during the election, stating they had no plans to extend these powers to municipalities,” said Patricia Verge, the president of the Ontario Real Estate Association, in a press release. “On behalf of home buyers, we want them to ...Read More

By: Marilyn Rogers

Home Sales Up In Peterborough And Kawarthas Region

Home Sales Up In Peterborough And Kawarthas Region

Home sales across Canada increased in July, as did the prices. Nationally, home sales increased by 0.4 per cent from June to July, while the average home price increased by 8.9 per cent. However, if Toronto and Vancouver are removed from the equation, national sales increased by 4.1 per cent. In July of this year there were a total of 331 real estate sales in the Peterborough and Kawarthas region, with 261 of those sales being residential properties and 37 of those sales being cottage or recreational properties. “Our July sales of 331 are consistent with that of July 2014, and we are ahead year-to-date by 17.2% over last year. Interestingly, this July has seen the best vacant land sa...Read More

By: Marilyn Rogers

Peterborough and the Kawarthas Featured In Remax Recreational Property Report

Peterborough and the Kawarthas Featured In Remax Recreational Property Report

Peterborough and the Kawarthas have been featured in Remax’s recent Recreational Property Report as a prime location for those who are looking to buy and sell recreational properties in Ontario. The report states, “Buyers are attracted to the Kawarthas for the region’s classic Ontario cottage country feel, and relative affordability compared to the Muskokas. Many recreational properties in this area are winterized, allowing cottagers to enjoy year-round activities, including swimming, boating and hiking in the summer, and skiing, snowmobiling and ice fishing in the winter. A recent recreational property report from a different major Canadian real estate corporation says t...Read More

By: Marilyn Rogers

Electronic Signatures Allowed On Ontario Real Estate Documents

Electronic Signatures Allowed On Ontario Real Estate Documents

Happy Canada Day! As of July 1st, the Government of Ontario is permitting electronic signatures to be used on real estate agreements of purchase and sale. This means that important real estate documents will be able to be filled out on a computer or tablet, eliminating the need for printing, faxing and a whole lot of waiting. It’s expected that this will make the home buying and selling process much quicker and more efficient. “Buying or selling a home is one of the most complex, time-consuming transactions that most people make – it’s also one of the most important,” said Madeleine Meilleur, Attorney General. “I hope that this change will open the door ...Read More

By: Marilyn Rogers

The Government of Ontario Takes Action To Stop Phantom Bids

The Government of Ontario Takes Action To Stop Phantom Bids

With the Ontario Real Estate Market hotter than ever, the Government of Ontario and the Real Estate council of Ontario have announced new rules governing how offers are presented. In a multiple offer situation where more than one buyer is competing for a house, some agents might tell buyers that there are other offers waiting in order to drive up the price – sometimes, these offers aren’t real. The new rules require that proof of these offers, so agents will have to keep records of the offers if they want to mention them to buyers.  Of course, agents are supposed to act ethically anyway, and sellers working with a reputable agent shouldn’t have to worry about these k...Read More

By: Marilyn Rogers

What Are The Biggest Trends Affecting The Peterborough Cottage Real Estate Market In 2015?

What Are The Biggest Trends Affecting The Peterborough Cottage Real Estate Market In 2015?

If you’re planning on buying or selling a cottage in Peterborough this year, it’s wise to do some homework and gain a more thorough understanding of what might be affecting the market this year. There are always fluctuating factors that affect markets in any given year, and 2015 is no different. The regular housing market When the home market is hot, it spills over into the cottage real estate market nearby. This means that because the Southern Ontario real estate market is booming, so is the local cottage real estate market.  Work at the cottage Most cottage owners know the drill: as soon as work is finished Friday, you head to the cottage for the weekend before return...Read More

By: Marilyn Rogers

Peterborough Spring Market Sees Best Home Sales Since 2007

Peterborough Spring Market Sees Best Home Sales Since 2007

The spring market is surely upon us. Every year, as the temperatures rise, so does the market activity! Anyone who has been putting off buying or selling a home during the winter months is now getting ready to make their move. According to the Peterborough and Kawarthas Association of Realtors, 204 homes were sold through the Peterborough MLS Listings in March, which is an almost 27% increase in sales over the same time last year. In fact, these March sales are the best sales figures seen since 2007. “PHAR is turning 70 this year and you would not think it with the spritely spring sales,” said Dominic Cole, the President of Peterborough and the Kawartha’s Association of ...Read More

By: Marilyn Rogers

Peterborough Home Sales Remain Strong In January

Peterborough Home Sales Remain Strong In January

According to the latest from the Peterborough and the Kawartha Association of Realtors, 2014 was the strongest home sales year since 2007 and the momentum is still being seen as we transition into 2015. The president of the Peterborough and Kawartha Association of Realtors, Dominic Cole, said in a press release, “With the growth of our economy locally and the reduction of interest rates by .25%, we are seeing that momentum carry through into 2015. January saw a 14% increase in sales over January 2014.” There were 166 total property sales through the Peterborough MLS Listings in January, with 145 of those being residential properties and 8 being cottage/recreational properties. ...Read More

By: Marilyn Rogers

We Hope You Enjoy Peterborough Snofest!

We Hope You Enjoy Peterborough Snofest!

Snofest is an annual winter carnival, and it is just one of the annual events that makes living in Peterborough perfect for the whole family! If you’ve never been, you should definitely consider checking it out this year. The festival runs from January 3 to January 28 and is packed full of fun things to do for the entire family. Events include a pancake breakfast, nature education, a chili contest, face painting, a Snofest Idol competition, a Youth Art Show and Sale, Bingo, the Snofest dart tournament, a Soup Contest, Carnival Day and so much more. Also, stay tuned for the Under The Lock Hockey Tournament at Trent Canal, from February 6 to February 8. Check out the official calenda...Read More

By: Marilyn Rogers

Do Peterborough Wind Turbines Hurt Property Values?

Do Peterborough Wind Turbines Hurt Property Values?

This past year has seen a number of proposed wind turbines and wind farms in Peterborough and the surrounding areas, many of which were questioned as having the potential to harm property values in Peterborough and the Kawartha Lakes region. As wind turbine farms become a more clear reality for the future of Ontario, many rural homeowners wonder if property values could be affected. However, a new study published earlier this month in the Canadian Journal of Agricultural Economics by researchers from the University of Guelph, says that wind turbines don’t have any significant effects on property values in nearby towns or cities, after studying the effects of the turbines in Melanctho...Read More