Why Barrie? Why Real Estate Investing? Check Out this Video Interview with Don R. Campbell and Shannon Murree!

Special thanks to Don R. Campbell of The Real Estate Investment Network™ (REIN™) for offering this EXCLUSIVE, can only be seen here, interview with Investor-Only REALTOR, Shannon P. Murree of  Barrie with RE/MAX Chay Realty Inc Brokerage. The City of Barrie is one of the Top Investment Towns and Rated by analysts and researchers of REIN Canada.

Check out this new and never seen before interview. 

Questions answered like: 

• Why Barrie?
• What makes a top 10 Town?
• What are the influencers?
• Who are the important players?
• What could cause a chosen City/Town to fall out of the top 10?

Happy Real Estate Investing!

*disclosure: For informational purposes only. Not to be construed as any legal, accounting or financial advice. Not intended to solicit anyone with any agency agreements whether written or implied. Shannon P. Murree is a licensed Sales Representative with RE/MAX Chay Realty Inc Brokerage is Independently Owned & Operated The Real Estate Investment Network™ (REIN™) is a Canadian business that has been in operation since 1991. Its Members have purchased over $4.0 Billion of real estate. We are Canada’s leading resource center for real estate investors.

REIN™ is a successful Education, Analysis, Research and Leadership resource that provides real estate investing workshops, services and products for its Members. Its 2,700+ Members are individuals, corporations, and entrepreneurs who are interested in learning how economic events affect real estate markets across Canada and how they can position themselves to take advantage of this information.

Is an income property right for you?

If you’re considering buying an income property during your retirement, think carefully before you do so. As long-time property investor Rui Torrao says, “Investment in real estate isn’t for everyone.”

You have to appreciate that—unlike investing in stocks and bonds—this kind of investment isn’t passive. You’ll need to do your homework, stay on top of the real estate market, and master all the details of managing your property to get a good return, even if you hire someone else to do much of the day-to-day work.

“It’s not hands-off,” says Don Campbell, author and senior research analyst at the Real Estate Investment Network, an educational and research company. “You’re in essence buying a small business.”

You also want to consider that you probably already have a big stake in the real estate market through the equity in your house. That may not matter much if you consider your home primarily a place to live and you don’t intend to sell it to realize your retirement objectives. But it can be a factor if you consider your home an investment you may need to cash out of at some point.

In that case, if you buy a rental property—particularly in the same city—that means a lot of your wealth will be riding on real estate’s good fortune.

If holding real estate directly isn’t your thing, you do have a more passive alternative: buying units in real estate investment trusts (REITs). These have some clear advantages, says Michael Missaghie, portfolio manager with the Sentry REIT Fund, Canada’s largest REIT mutual fund.

He points out that REITs are easy to buy and sell with low transaction costs (they trade like stocks). As well, you’re assured of professional management, and REITs provide a well-diversified real estate portfolio that you just don’t get if you buy one or two properties on your own. REITs may hold commercial or industrial properties, office buildings, apartments, shopping centres, hotels and the like.

On the other hand, Campbell says direct investing gives you more control, you save on fees if you have the skills to manage your assets yourself, and you can invest in residential market segments like six-plexes that are too small for REITs to touch.

Which gives you the best return? It depends what you compare. Interestingly, analysts Michael Smith and Matt Koskinen at Macquarie Capital Markets Canada did a head-to-head comparison last October of investing in apartment REITs versus condos. They first compared returns from investing in a Calgary condo to Alberta-focused Boardwalk REIT. Then they compared returns from investing in a Toronto condo to eastern Canada–focused CAP REIT. In both cases, they found the REIT investment came out ahead consistently in recent years.

Campbell reiterates the best direct real estate investments are in niche markets like small multiplex buildings rather than condos, and he avoids Toronto altogether. He contends you can generally make more money through direct investments “if you do it right.”

**originally posted CTV

MARKET CAP COMPRESSION SQUEEZES INVESTORS

Really great tips by another Real Estate Investing Pro:

MARKET CAP COMPRESSION SQUEEZES INVESTORS

No doubt, some of you read the title of this article and thought ... huh?  "Market cap compression" is just a fancy term which merely states that prices for commercial real estate continue to rise.  The market cap has an inverse relationship to the price/value of a commercial property.  In essence, as the price/value of the property goes up, the market cap goes down or becomes "compressed".   In the past few years we've seen significant market cap compression in the commercial sector which is primarily a function of low interest rates coupled with no real alternatives to park investment dollars.  The question is, what does this mean for the average investor either looking to buy their first property or their fifth?

1. Look outside of major urban centres

I've always been a major advocate of investing outside of the major urban areas such as Toronto, Calgary and Vancouver.  As much as I would love to buy properties in those cities, the cap rates for multi-unit residential properties have reached historic lows and thus don't make economic sense for investors looking for cash flow.  Five percent market caps have now become the norm in Toronto.   I've even started to see caps as low as 3.5%.  With caps that low, your investment property is unlikely to cash flow.   Further, when the mortgage resets after the initial term, investors are opening themselves up to signficant risk if and when interest rates rise.

Why look to the smaller urban centres?  Because cap rates in the smaller urban areas tend to be a percentage point or two higher than their more densely packed counterparts.  That's not to say that all smaller areas are created equally.  Investors need to focus on the key metrics to find the right place to invest which includes GDP Growth, low unemployment, low vacancy rates, population growth, etc...  Smaller cities that investors should be looking in include, but is not limited to, Kitcher/Waterloo, Guelph, Cambridge, Hamilton, Durham region (Pickering, Ajax, Whitby, Oshawa) and Kingston.

2. Watch the bond markets

The bond markets are a critical metric and commercial investors  need to keep an eye on them as they are used to establish the ultimate cost of funds (mortgage rate).  Over the past 30 days, the Canadian bond markets have seen a significant increase in bond yields which will ultimately place upward pressure on commercial mortgage rates.  In the longer term, if the movement in bond yields proves to be a trend and not just a blip, market cap compression will begin to reverse as cap rates have a close correlation to the cost of funds.  Investors need to be weary in the short term that they aren't buying commercial properties today based on the recent trend of extremely low cap rates and getting financed at the new higher mortgage rates.

3. Lock into longer terms

With mortgage rates at historic lows, even with the recent run in the bond market, locking into longer term rates such as 5 and 10 year terms will make economic sense for most long term investors.  This type of certainty allows for predictable cash flow and signficant mortgage paydown during your mortgage term.  More importantly, it significantly mitigates the risk of rising interest rates.  

4. Ensure you have a healthy spread

The key to profitable investing is to ensure that you have a healthy spread (the spread is the difference between the market cap and your cost of funds).  Market cap compression in the larger cities such as Toronto have all but squeezed the spread in most cases to zero.  To illustrate this point, the average 12-plex in Toronto has a cap rate of approx. 5%.  The cost of funds for this type of property are typically between 4-5%.  In essence, there is almost no spread, which means that the investment property is unlikely to cash flow.  Even worse, the investor could be in a negative cash flow situation having to pull money out of their pocket every month.  I personally like to work with spreads of 2.5% to 3% to ensure healthy cash flow and to provide a buffer should interest rates rise upon rate reset. 

5. Be weary of too much leverage

Real estate investing and leverage go hand in hand.  In fact, without leverage, most real estate investors wouldn't exist as they wouldn't be able to pay for their property entirely in cash.  As much as I love leverage and have used it extensively to make significant gains, it must be approached with extreme caution.  Basically its the old adage ... too much of a good thing.  While taking on large amounts of leverage/debt may seem like a great idea now that interest rates are at historic lows, one must keep in mind that in all likelihood, when the mortgage resets in 3, 4 or 5 years from now, on a balance of probabilities, mortgage rates will be significantly higher than they are today.  If you are overleveraged this can pose a significant problem with your cash flow and your ability to service your debt.  As a rule of thumb 65% to 75% LTV, in a longer term (5 or 10 year) are usually a pretty safe bet.

Authored by:: Paul Kondakos, BA, LL.B, MBA - Professiona Real Estate Investor

 PAUL KONDAKOS | POSTED ON  MONDAY, JUNE 24, 2013 Realtyhub

Five more tricks to finding a bargain

Here are the last five of ten ways investor Gord Lemon urges you to beat the bushes for a deal. Ahem, a deal at a discount, no less. Note: They're in no order of preference or effectiveness, although all require initiative and, perhaps, a little luck.

The truth is, says Lemon, When it comes to finding more deals, it is not the lack of resources, but rather the lack of resourcefulness that truly prevents real estate investors from reaching their investment goals.

Go to your local landlord/tenant board
There are cases which are held on a regular basis at landlord/tenant boards across the country. These happen both in the courtroom and outside of the courtroom by a mediator. Attending these hearings from time to time gives you the opportunity to meet landlords or property managers who have just come from an experience they probably wish they had not had to go through. They may be very willing to talk to you about selling their property.

Go to foreclosure court
Going to foreclosure court can be a very interesting experience. You can witness foreclosure hearings which will be at various stages in their processes. Sometimes the owners are in attendance and sometimes not. The reason for attending, other than for your edification, is to potentially meet owners and be able to provide them some help. This may be financial help, advice to save their property or a deal to buy the property. Sincerely providing options to owners who are unfamiliar with the process can be invaluable to them. I encourage you to understand the foreclosure process in your province.

Placing ads
Utilize local papers and online ads like Kijiji and Craigslist to get your message out. Simple messages like: “I can buy your house fast!” “Need to sell your house today?” It can be as simple as “I Buy Houses.” These ads work well under the “Money to Lend” sections and attract people who are looking for cash to keep their houses. They may read your ad and realize if they just sold their house, it may relieve their financial pressures.

Fax Realtors
Create a simple message.
“I am looking for distressed houses in [your area of choice] that I can get for a minimum of 10% (or whatever your number is) under market value. I can buy cash and close quickly.” When you fax this to all the local real estate brokerages, you should get calls. This can be the initiation to creating some great relationships with Realtors who may be able to find you some great deals.

Word of mouth
There is no better advertising for you than word of mouth.

Just like in any type of sale, when a trusted friend, neighbour or business associate passes along your name to someone they feel can benefit from what you do, it comes as a great recommendation to the person receiving it. This can dramatically help in your sales process as your service and credibility have perhaps already been addressed. All you have to do now is fill the need and make the sale.

This was originally posted by Gord Lemon and source Canadian Real Estate Wealth Magazine, a monthly publication focused on building value through property investment, covering topics such as values and trends, mortgages, investment strategies, surveys of regional markets and general tips for buyers and sellers.

Shannon's note: establish a good relationship with REALTORS who will carry "pocket" listings and create "VIP Lists" so you'll be in the know. Ask and interview!

Additional NOTE: Check out Top Investor Award 2013 Winners from the Canadian Real Estate Wealth Magazine - Top Investor Awards naming Shannon P. Murree, Sales Representative with RE/MAX Chay Realty Inc Brokerage the 2013 Winner as Top Real Estate INVESTOR Agent -Eastern Division 

Investors helping 'drive' the market, says report

Investors helping 'drive' the market, says report

Written by  Jemima Codrington - Canadian Real Estate Magazine

Are investors the driving force behind Canada’s housing market?

A new survey from RE/MAX, “RE/MAX Canadian Homebuying Trends Survey 2013-2014”, reveals that multi-time buyers are accounting for 41% of all home purchases in Canada. Combined with second-time buyers, the number of buyers purchasing property for the second time or more will account for 70% of home purchases.

Gurinder Sandhu, Executive VP Regional Director REMAX Ontario and Atlantic Canada, says investors fall under this umbrella.

“There are a fair number of investors in that multi-buyer category,” he said. “The challenge is we don’t know how many.
“We know based on discussions with our realtors that there is an increasing number, because over the past 17 years, real estate has been a sound investment.”

Sandhu was also quick to point out that immigration in urban areas is helping to prop up the condo market, despite fears that it’s in bubble territory.

“We still see demand for that product because it represents a product that is more affordable than others,” he said.
RE/MAX surveyed 1,109 purchasers who intended to buy over the next two years, and found that 39 per cent of those surveyed were multi-time buyers, 31per cent were second-time buyers and 30 per cent were first-time. The demographic is a shift from previous years as investors took the helm early last year and dove into the market.

"Between 2009 and 2011, first-time buyers were the engine driving housing activity, taking advantage of favourable conditions and a recovering economy," says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. "That changed in 2012, and even earlier in B.C., as prices reached a breaking point.”

But when quizzed about prices, the response was remarkably positive considering the current climate. 48 per cent of respondents believed housing values will rise, while 35 per cent believe they’ll remain the same. And according to the report, low vacancy rates and higher rents have driven some survey participants away from the rental market and into homeownership. When considering a property type, the majority of buyers were interested in larger properties, and lifestyle and investment were noted as “principle drivers” in the decision to purchase.

The survey also revealed a higher number of women active in home-buying. "Our Realtors   have definitely seen an upswing in the number of female homebuyers active in the market in recent years—and the survey confirms those anecdotal accounts," said Ash.

However the numbers stack up, the report generally indicates that mature, seasoned buyers are taking the helm and profiting from the current market. "Today's real estate consumer is more experienced and financially prudent than in the past," added Ash, “it seems the lessons of excess are being heeded."

Barrie South-End Housing Development - Update August 2012

Traffic, wildlife top list of concerns about south-end housing plan

The fate of a proposed, controversial south-Barrie residential development is winding its way through city hall and the Ontario Municipal Board.

Baywood Homes wants to build as many as 1,900 residential units on almost 100 acres of land along Mapleview Drive, on the east side of the GO train tracks — a mix of high-rise, mid-rise, town homes and stacked town homes.

Because city council has not yet made a decision on Baywood’s proposal, the developer has appealed to the OMB.

The second pre-hearing conference is scheduled for Oct. 11.

Coun. Alex Nuttall, who represents this part of Barrie, says he’s not impressed with Baywood’s tactics, given that the developer’s original plan was for 2,100 units.

“They filed with the OMB on the old one, so that they could apply pressure on the new proposal,” he said. “I think that it creates even more animosity around a project that’s obviously stirred up pretty deep feeling in the community.”

Nuttall said councillors are waiting for city planners to come back with a staff report that recommends, one way or the other, whether Baywood’s plan should proceed.

Then councillors can debate the matter.

He expects that report in the next month or so.

Bill Church, who lives on Birkhall Place, north of the site, says most area residents think this project is too large.

He compares Baywood’s plans to Geranium’s approved development at the east end of Big Bay Point Road in Innisfil, with 1,600 resort condo units and 400 hotel rooms on about 560 acres.

“To do the same thing on 100 acres, it seems to me that something’s wrong,” Church said.

Area residents have also expressed concerns about traffic created by the project’s density on an already busy Mapleview Drive. And there have been concerns about wildlife on the property, as people have seen foxes, deer, rabbits and many birds there — including Canada geese and blue herons since 2001.

Baywood officials have said their plan follows provincial guidelines for more intensified residential development and it’s close to public transit, specifically to GO trains which head south on weekdays and take commuters off Highway 400.

But Church says there’s poor access from 700 and 725 Mapleview Dr. to the Barrie South GO Train Station.

“The whole basis of the developer’s application is that government policy is you’re supposed to ... develop more intensely around GO stations,” he said. “I think the presumption is you can get to the GO station, and in that particular case, they (Baywood) don’t own all the land all the way to the GO station.”

Church is also concerned this area doesn’t have the needed city infrastructure — roads, storm and sanitary sewers, etc. — for the development.

“You can fight it on the basis that it’s simply premature. You don’t have any money to do some of this stuff,” he said.

Church says he’s also concerned with the precedent this development would set, if it’s approved.

He points at Pratt Development’s plans in another part of Barrie.

“What troubles me, and it’s happening on Ferndale (Drive), south of Tiffin (Street), is that they nibble away,” he said.

“They don’t start out with much, but they keep pushing it a little bit and pretty soon you’re looking at it.

“They nibble away until there isn’t anything left.”

Pratt wants to build about 270 low- and medium-density housing units on two separate sites on its 76.4 acres at 40 Ferndale Dr. S. Bear Creek Wetlands occupy 71% of this land, which are not proposed for development, but would be dedicated to the city if the plan is approved.

As for Baywood Homes, Nuttall says it’s been quiet lately in terms of residents’ feedback.

“I don’t receive much any more on it, but as soon as it ramps up, then I’m sure I will,” he said.

City council initially approved a draft plan of subdivision for this land in January 2006, and granted an extension three years later — but told the developer its plans didn’t conform with intensification standards.

Early in 2011, Barrie councillors denied Baywood a one-year extension of its draft plan approval status for this property.

Credit: Barrie Examiner - Bob Bruton

Barrie Means Business! Barrie Mayor Breakfast

Looking to learn about future development and what's happening in Barrie? Words from our 46th Mayor of the City of Barrie. He discusses the plans for Transit Improvements, Businesses, Development, EM2, Infracture for Growth, RVH - Cancer Care Centre, Education, Georgian College, South Branch Library, South End improvements, City Agenda and more!

His entry is at 4:02, speech and then Q&A

Why Do Business in Barrie?

City of Barrie asked five entrepreneurs why they do business in Barrie. Here's what they had to say.

Who are they?

Stella Gan
Head of sales & marketing at Liberty Hospitality Corporation & acting General Manager of Days Inn Barrie.
Days Inn & Liberty North Barrie

Mayor Jeff Lehman
As head of Council & Chief Executive Officer of the City, he is leading Barrie through a period of rapid change.Mayor, City of Barrie

Marc Hill
Marc helps organizations understand, evaluate & participate in the best medium to engage with people.MH Connect

Giulia Rinaldi
Giulia Rinaldi is a realtor specializing in ICI real estate, & owner of At the Five Restaurant in Downtown Barrie.
Royal Lepage & At the Five

Sandra Roberts

Pie Bookazine is an affordable luxury lifestyle publication & IMAGO Zine an energetic, power-lifestyle brand.

CEO/EIC/Creative Director/Publisher

What Puts Barrie on the Map?

Barrie is centrally located: Cottage country to the north and the City of Toronto to the south. With the friendliness and beauty of a small town, the amenities of a large city and a growing population of 140 000, Barrie has the rare advantage of enjoying the best of both worlds. Barrie's central location in close proximity to the Greater Toronto Region puts more than 8.4 million people, representing one quarter of Canada's population, within a 100-mile radius of Barrie.

Source City of Barrie

Barrie Real Estate Market - July 2012

Barrie Real Estate Market - July 2012 

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 418 units in July 2012, up 10 per cent from the same month last year. This was the seventh consecutive year-over-year gain.
 
Within the city of Barrie, sales activity recorded an increase on par with the overall region. The city of Barrie saw 255 residential sales in July, also 10 per cent above levels from July 2011.
 
 
The year-to-date average price for all Barrie homes sold via the Association’s MLS® System in July 2012 was $302,905, up six per cent from levels at the same time last year.
 
The year-to-date average price figure for homes sold within the City of Barrie was $287,367. This was a seven per cent increase compared to the same period in 2011. The dollar value of all Barrie home sales in July 2012 was $129 million, up 12 per cent from year-ago levels.
 
New residential Barrie listings were up seven per cent from a year earlier to 700 units in July 2012.
 
Overall supply levels have generally been trending downward since last summer and this trend continued to play out in July. Active residential listings on the Association’s MLS® System numbered 1,686 units at the end of July 2012. This was down 10 per cent from the end of July 2011.
 
There were four months of inventory at the end of July 2012, down from 4.9 months at the end of July 2011. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
 
Sales of all property types in the Barrie region numbered 430 units in July, up 12 per cent compared to July 2011. The total value of all properties sold in July 2012 was $134.2 million, up 16 per cent on a year-over-year basis.
 
The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members .

For more Barrie Real Estate information go to InvestingInBarrie.com 

The information contained in this report has been prepared by The Canadian Real Estate Association, in co-operation with The Barrie & District Association of REALTORS® Inc.. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither The Canadian Real Estate Association nor The Barrie & District Association of REALTORS® Inc. assumes any responsibility or liability. Copyright© 2012 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.

Barrie Home sales continue to climb in June 2012

Barrie Home sales continue to climb in June 2012

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 516 units in June, up three per cent from year-ago levels.

Within the city of Barrie, sales activity was up by more than the overall trend for the region. The city of Barrie saw 314 residential sales in June, five per cent above levels from June 2011.

“Resale housing demand recorded another strong month in June 2012, although the year-over-year gain was considerably more modest than the 21 per cent jump we saw in May,” said Walter Doret, President of the Barrie and District Association of REALTORS®. “A total of 2,555 homes have traded hands so far this year. This is up 14 per cent from the first half of 2011, and marks the second best start to any year on record after 2007.”

The year-to-date average price for all Barrie homes sold via the Association’s MLS® System in June 2012 was $301,967, up six per cent from levels at the same time last year.

The year-to-date average price figure for homes sold within the City of Barrie was $286,260. This was a seven per cent increase compared to the same period in 2011.

The Barrie & District Association of REALTORS® cautions that over a period of time, the use of average price information can be useful in establishing trends, but it does not indicate actual prices in widely divergent areas or account for price differentials between geographical areas.

The dollar value of all Barrie home sales in June 2012 was $155.3 million, up seven per cent from year-ago levels.

New residential listings were down three per cent from a year earlier to 726 units in June 2012.

Overall supply levels have generally been trending downward since last summer and this trend continued to play out in June. Active residential listings on the Association’s MLS® System numbered 1,582 units at the end of June 2012. This was down 17 per cent from the end of June 2011.

There were 3.1 months of inventory at the end of June 2012, down from 3.8 months at the end of June 2011. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Sales of all property types in the Barrie region numbered 536 units in June, up six per cent compared to June 2011. The total value of all properties sold in June 2012 was $159.2 million, up nine per cent on a year-over-year basis .

 For more information regarding the Barrie Real Estate Market please visit Investing In Barrie.com

Information provided by: The Barrie and District Association of REALTORS®.

The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members .

Barrie Home Sales Climb Higher in May 2012

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 544 units in May, rising 21 per cent from year-ago levels.

Within the city of Barrie, sales activity was up by slightly less than the overall trend for the region. The city of Barrie saw 320 residential sales in May, 18 per cent above levels from May 2011.

A total of 2,039 Barrie homes have traded hands so far this year. That’s up 18 per cent from the first five months of 2011.

The year-to-date average price for all Barrie homes sold via the Association’s MLS® System in May 2012 was $302,217, up seven per cent from levels at the same time last year.

The year-to-date average price figure for homes sold just within the City of Barrie was $286,017. This was also a seven per cent increase compared to the same period in 2011.

The Barrie & District Association of REALTORS® cautions that over a period of time, the use of average price information can be useful in establishing trends, but it does not indicate actual prices in widely divergent areas or account for price differentials between geographical areas.

The dollar value of all home sales in May 2012 was $165.5 million, up 29 per cent from year-ago levels.

New Barrie residential listings were down two per cent from a year earlier to 801 units in May 2012.

Overall supply levels have generally been trending downward since last summer, and that trend continued to play out in May. Active residential listings on the Association’s MLS® System numbered 1,741 units at the end of May 2012. This was down 16 per cent from the end of May 2011.

There were 3.7 months of inventory at the end of May 2012 on a seasonally adjusted basis, down just slightly from 3.9 months at the end of April. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Sales of all property types in the Barrie region numbered 566 units in May, up 23 per cent compared to May 2011. The total value of all properties sold in May 2012 was $170.7 million, up 31 per cent on a year-over-year basis.

The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members .

For more information regarding the Barrie real estate market please go to Investing In Barrie .com

The information contained in this report has been prepared by The Canadian Real Estate Association, in co-operation with The Barrie & District Association of REALTORS® Inc.. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither The Canadian Real Estate Association nor The Barrie & District Association of REALTORS® Inc. assumes any responsibility or liability. Copyright© 2012 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.

Barrie Home sales climb higher in April

Barrie Home sales climb higher in April Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 488 units in April, rising 14 per cent from year-ago levels. Within the city of Barrie, sales activity was up by more than the overall trend for the region. The city of Barrie saw 310 residential sales in April, 29 per cent above levels from April 2011. On a year-to-date basis, sales activity was running 16 per cent ahead of the first four months of 2011. “Demand remained at above average levels in April,” said Walter Doret, President of the Barrie and District Association of REALTORS®. “It’s actually been one of the strongest starts to any year on record. That’s drawing down the overall supply of properties for sale, which is resulting in tighter market conditions and continued upward pressure on prices.” The year-to-date average price for all homes sold via the Association’s MLS® System in April 2012 was $301,501, up seven per cent from levels at the same time last year. The year-to-date average price figure for homes sold just within the City of Barrie was $284,691. This was an eight per cent increase compared to the same period in 2011. The Barrie & District Association of REALTORS® cautions that over a period of time, the use of average price information can be useful in establishing trends, but it does not indicate actual prices in widely divergent areas or account for price differentials between geographical areas. The dollar value of all home sales in April 2012 was $150.4 million, up 22 per cent from year-ago levels. New residential listings were up two per cent from a year earlier to 861 units in April 2012. Overall supply levels have generally been trending downward since last summer. Active residential listings on the Association’s MLS® System numbered 1,701 units at the end of April 2012. This was down 10 per cent from the end of April 2011. There were 3.9 months of inventory at the end of April 2012 on a seasonally adjusted basis, up slightly from 3.8 months at the end of March. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity. Sales of all property types in the Barrie region numbered 497 units in April, up 13 per cent compared to April 2011. The total value of all properties sold in April 2012 was $154.2 million, up 23 per cent on a year-over-year basis . For more information if wanting to purchase in Barrie - contact InvestingInBarrie.com The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members.

The information contained in this report has been prepared by The Canadian Real Estate Association, in co-operation with The Barrie & District Association of REALTORS® Inc.. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither The Canadian Real Estate Association nor The Barrie & District Association of REALTORS® Inc. assumes any responsibility or liability. Copyright© 2012 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.

Barrie Home sales remain strong in March

Barrie Home sales remain strong in March Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 418 units in March, rising 10 per cent from year-ago levels. Within the city of Barrie, sales activity was up by less than the overall trend for the region. The city of Barrie saw 250 residential sales in March, just one sale more than in March 2011. On a year-to-date basis, sales activity was running 17 per cent ahead of the first three months of 2011, and stood above the same period in all other years with the exception of 2007. “Demand eased up a little in March from the record setting pace we saw in February, but nevertheless remained very strong,” said Walter Doret, President of the Barrie and District Association of REALTORS®. “The recent jump in demand has been drawing down the number of properties for sale, which is resulting in tighter market conditions and continued upward pressure on prices.” The year-to-date average price for all homes sold via the Association’s MLS® System in March 2012 was $298,262, up seven per cent from levels at the same time last year. The year-to-date average price figure for homes sold just within the City of Barrie was $281,897. This was a seven per cent increase compared to the same period in 2011. The Barrie & District Association of REALTORS® cautions that over a period of time, the use of average price information can be useful in establishing trends, but it does not indicate actual prices in widely divergent areas or account for price differentials between geographical areas. The dollar value of all home sales in March 2012 was $125.9 million, up 17 per cent from year-ago levels. New residential listings were down four per cent from a year earlier to 778 units in March 2012. Overall supply levels have been trending downward since the end of last summer. Active residential listings on the Association’s MLS® System numbered 1,501 units at the end of March 2012. This was down 13 per cent from the end of March 2011. There were 3.8 months of inventory at the end of March 2012 on a seasonally adjusted basis, up from 3.5 months at the end of February. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity. Sales of all property types in the Barrie region numbered 426 units in March, up 10 per cent compared to March 2011. The total value of all properties sold in March 2012 was $129.2 million, up 19 per cent on a year-over-year basis . The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members. Need more info - contact InvestingInBarrie.com

The information contained in this report has been prepared by The Canadian Real Estate Association, in co-operation with The Barrie & District Association of REALTORS® Inc.. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither The Canadian Real Estate Association nor The Barrie & District Association of REALTORS® Inc. assumes any responsibility or liability. Copyright© 2012 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.

Record February for home sales in Barrie region

Record February for home sales in Barrie region

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. numbered 371 units in February, rising 31 per cent from year-ago levels. This is the first time on record that sales have topped the 350 mark in the month of February. As a result of the strong demand in February, seasonally adjusted sales activity jumped 24 per cent on a month-over-month basis. Within the city of Barrie, sales activity was up by less than the overall trend for the region. The city of Barrie saw 243 residential sales in February, up 25 per cent from one year earlier. On a year-to-date basis, sales activity was running 23 per cent ahead of the first two months of 2011, and stands roughly on par with the record for this period set in 2007. “Demand came in much stronger than expected in February, even after accounting for the extra day and warmer weather this year,” said Walter Doret, President of the Barrie and District Association of REALTORS®. “At the same time the overall supply of properties for home buyers to choose from continues to trend down, and that’s leading to further price gains.” The year-to-date average price for all homes sold via the Association’s MLS® System in February 2012 was $296,096, up eight per cent from levels at the same time last year. The year-to-date average price figure for homes sold just within the City of Barrie was $280,714. This was a nine per cent increase compared to the same period in 2011. The Barrie & District Association of REALTORS® cautions that over a period of time, the use of average price information can be useful in establishing trends, but it does not indicate actual prices in widely divergent areas or account for price differentials between geographical areas. The dollar value of all home sales in February 2012 was $111.5 million, up 44 per cent from year-ago levels. New residential listings were up eight per cent from a year earlier to 662 units in February 2012. Active residential listings on the Association’s MLS® System numbered 1,365 units at the end of February 2012. This was down seven per cent from the overall supply at the end of February 2011. There were 3.5 months of inventory at the end of February 2012 on a seasonally adjusted basis, down from 4.5 months at the end of January. This was the lowest level of inventory since October 2009. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity. Sales of all property types in the Barrie region numbered 378 units in February, up 31 per cent compared to February 2011. The total value of all properties sold in February 2012 was $112.5 million, up 44 per cent on a year-over-year basis. More info on Barrie Real Estate and Investing? Contact the InvestingInBarrie Team! The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview. The Association provides continuing education, Multiple Listing Service® (MLS®), statistical information, and many other services to its members.

The information contained in this report has been prepared by The Canadian Real Estate Association, in co-operation with The Barrie & District Association of REALTORS® Inc.. The information has been drawn from sources deemed to be reliable, but the accuracy and completeness of the information is not guaranteed. In providing this information, neither The Canadian Real Estate Association nor The Barrie & District Association of REALTORS® Inc. assumes any responsibility or liability. Copyright© 2012 The Canadian Real Estate Association. All rights reserved. Reproduction in whole or in part is prohibited without written permission.

Ontario Landlords and Tenants

I'm going to post below an excerpt from a well connected and established mortgage broker here in Barrie who has owned multiplexes. His post is an excellent reason to showcase why it is so important to use those that specialize with Rentals. Not just someone that wears many hats and does not work specifically with Tenants on a daily basis. Why? Read below. There are some great tenants, don't get us wrong but get the wrong one? It will turn you off real estate investing and the reason why you will hear of "tenant horror stories". Who would you rather entrust your property with? (This is why it is our mandate at Shannon Murree and Team of RE/MAX Chay Realty Inc Brokerage in Barrie to work with Landlords to rent the properties and longstanding history of over 14 years. Why? We are real estate investors ourselves.) Ontario Landlord's perspective:

‎*Just curious, in today's climate for you Ontario LLs, how many months a typical loss ends up being? (not counting legal and sheriff fees, etc.)* Here is a typical example: This tenant only gave one month's rent ($1000) on move in: Rent is due on the first late on the second. On the second, you serve an N4 notice to the tenant to pay the rent owing, or move within 14 days. *If tenant moves out, you are out one months rent.* *If tenant does not pay or move in 14 days, you file an app with the LTB, if you are lucky, you get a hearing by the end of that rental month. If tenant shows up, several things can happen at the hearing: Tenant has real good excuse why he is late with rent (example job loss), so the adjudicator will force you to keep tenant on a payment plan. The arrears he owes you will be added in increments of $200 a month along with upcoming month's rent for the next 5 months. NOWHERE IS IT ALLOWED TO BE STIPULATED IF THEY DEFAULT, EVICTION IS IMMEDIATE! *If he doesn''t pay next month's rent along with the extra $200, you must file again with the board (it's free this time) and usually the tenant doesn't get a notice of hearing nor do you have to provide them with one. *The hearing date you get may be in 2 weeks if you are lucky (we are now into second month of no rent being paid) *At the hearing you explain your case to the adjudicator that tenant defaulted on a hearing order payment plan. So the adjudicator prepares a hearing order for eviction which is good in ten days (or it could be immediate-not sure) The hearing order gives the tenant 10 days to move out or landlord will hire sheriff. *Tenant gets this in the mail, they don't move out in ten days so you must hire the sheriff to evict on day eleven. *After hiring sheriff, within a few days sheriff goes and posts move out letter to tenant giving them another couple of days to move out. Tenant still does not move out. Sheriff comes back in a week to physically evict. Then you must keep tenant belongings for 3 days before disposing. I think this added up to three months. Add another month if they don't show for first hearing and filed for a review hearing (which will be granted) Add another month if your hearing dates are later (like 4 weeks after filed app instead of 2) or you call sheriff at Xmas (they won't evict for 2 weeks around xmas and this creates a backlog) Minus one month if you had received first and last month's rent from this tenant. Cost for hearings is $150, cost for sheriff $350. Cost for a paralegal to represent you is $400. Haven't even included damages or your time and aggravation as a landlord. But you go in to inspect for damages and the place is trashed. Thousands of dollars in cleanup and repair. YOU CANNOT FILE AN APPLICATION FOR DAMAGES BECAUSE HE IS NO LONGER YOUR TENANT! So you now have three months rent owing ($3000) plus $500 in fees to evict, $400 legal fees plus damages. Your ex tenant has flown the coup, so could be very hard to collect from them. But when you do have a hearing order with an amount for arrears of rent (and filing costs), it can be transferred to a small claims judgement (approximately $75) and you can fill out garnishment forms if they are worth garnishing and you know where they bank and/or work (for $100). These fees are added to the total judgement amount. Sometimes tenants that disappear, reappear on the radar. A small claims judgement is good for seven years and then you can renew it. It will also appear on their credit report. So as a landlord in order to recoup this cost you raise your rent for the next tenant and raise it every year and keep it high forever just in case this happens again.