Real Estate Outlook 2019

RAHB and CMHC are teaming up to present Real Estate Outlook 2019, where you will learn about economic, geographic and demographic variables that will influence the housing market in the Hamilton-Burlington area in 2019.

On the agenda for this half-day event are:

  • Anthony Passerelli, CMHC’s Senior Market Analyst, will discuss the state of Hamilton’s and Burlington’s housing markets, and present CMHC’s forecast for the 2019 housing market
  • Lorraine Huinink, Vice President Corporate Real Estate for Metrolinx

Tickets are now on sale!

RAHB member = $42 +HST
non-RAHB member = $52 +HST
Broker table (10) = $420 +HST

Thank You To Our Sponsors

RBC - Signature Sponsor

CIBC - Silver Sponsor

Scotiabank - Silver Sponsor

0 0

Habitat for Humanity Hamilton Needs Your Help

On October 15, Habitat for Humanity Hamilton experienced a massive theft when over $10,000 worth of supplies and equipment was stolen from its warehouse. Items taken include compressors, saws, nail guns, cordless drills and copper pipe. Habitat for Humanity was in the midst of building a home in downtown Hamilton on Wilson Street and the theft will affect that, as well as other projects.

Habitat for Humanity Hamilton is appealing to the community for donations of new or slightly used tools, as well as monetary contributions. The REALTORS® Association of Hamilton-Burlington will be donating financially to the organization, and if you would personally like to donate please call 905-560-6707, or e-mail their CEO Sean Ferris directly at sean@habitathamilton.ca.

More Information

 

0 0

Welcome New Members!

We extend a warm welcome to RAHB’s newest members who joined our Association between
September 29 and October  30, 2018!

Mary Dzambas
Century 21 New Age Realty Inc.

Nasr Bistawrous
Homelife Professionals Realty Inc.

Gordon Burns
Elaine Tolley
iPro Realty Ltd.

Sara Caterini
Adam Cooke
Alyssa Drummond
Julie Hilw
Keller Williams Complete Realty

Susan Blazey
Fathalla Denno
Troy Challe
Glenda DiStefano
Elsa Sewell
Michelle Whitelaw
Keller Williams Edge Realty

Ana Carter
Kingsway Real Estate

Sabi Dhawan
LEADEX Realty Inc.

Stacey Keric
Lenore Lennox
Rob McKichan
Danny Mistry
Demis Rasho
Tyler Robins
Lex Thavarajah
RE/MAX Escarpment Realty Inc.

Krista Toussaint
RE/MAX Escarpment Golfi Realty Inc.

Marcelo Ferreira
RE/MAX Real Estate Centre Inc.

Cristian Enache
Right At Home Realty Inc.

Laura D’Alimonte
Brandon Iaboni
Rachel Taylor
Royal LePage Burloak Real Estate Services

Suzanne McKinnon
Royal LePage Macro Realty

Yossi Klein
Lisa Templeman
Zolo Realty

1 0

Ontario Municipal Election Information 2018

The Ontario Municipal Election is this Monday, October 22, 2018 and we encourage all RAHB REALTORS® to vote for those who represent you, your family, your community and your clients.

Please see below for links to where you can find candidate information for each of the areas within our RAHB market, as well as general voter information for those areas:

City of Hamilton

City of Burlington

Haldimand County

Niagara Region

 

And when considering your available candidates, we ask that you keep the below questions in mind:

  • Do the candidates support or oppose the Municipal Land Transfer Tax (MLTT)?
  • Do Hamilton candidates support or oppose the LRT?
  • Do Burlington candidates support or oppose increased development?
  • What are the plans of Burlington candidates to reduce traffic congestion?
  • Do Hamilton candidates support or oppose rental licensing?
  • Do Hamilton candidates support or oppose easing the process to establish a secondary suite?
  • Do Haldimand candidates support or oppose development?
  • Do Niagara candidates support or oppose growth?
  • Will your candidates support or oppose initiatives to improve housing affordability?
0 0

City of Hamilton – Rental Licensing Pilot

On September 27, 2018, the City of Hamilton Rental Licensing Sub-Committee voted in favour to establish a rental licensing pilot project in Wards 1 and 8. This recommendation will go before the next City of Hamilton Council, with anticipated implementation within the first quarter of 2019.

RAHB voted against rental licensing in the City of Hamilton for several reasons, including: a lack of clarification on the process, uneven zoning by-laws throughout the City of Hamilton since amalgamation, a lack of incorporating the Maple Leaf Strategies Report containing 25 recommendations to address the issues (above and beyond), a lack of plan moving forward, etc.

Please see below for information from the City of Hamilton’s for the rental licensing pilot project, as presented to the Rental Housing Sub-Committee:

LICENSING BY-LAW
This option is intended to assist and support in bringing low density rental properties into conformity and compliance with standards and lessen enforcement challenges presently in existence. An owner occupied low density dwelling unit with three or fewer bedrooms rented within the same dwelling will not require a licence to rent individual rooms (three or fewer) as this is allowed under current zoning regulations.

Considerations in developing a Low Density Rental Housing Licensing By-law and Program include:

Potential Requirements under a Licensing By-law:

(a) Owner to provide proof of ownership and contact information (principal residence), company information
(b) Property management plan
(c) Proof of insurance
(d) Local management contact info (for out of town owners)
(e) Self/City inspections for compliance with the City’s Property Standards and Yard Maintenance By-laws
(f) Electrical safety inspection
(h) Floor plan for the building
(i) Property/yard maintenance plan
(j) Parking plan
(k) Licence fee
(l) Consent to Inspection

Pilot Project Summary

FTEs Associated Costs – FTEs By-Law Amendments Required Inspections Exemptions Fee
Rental Licensing 3 $347,463 Yes Yes, consent for inspection provided by building owner. An owner occupied unit with 3 or fewer bedrooms rented within the same dwelling unit. $200 annually

 

ADVANTAGES OF LICENSING

  • Apply specifically to low density rental housing (5 units or less)
  • Apply equally to existing and new low density rental housing (5 units or less)
  • Require regular inspections
  • Require proof of insurance
  • Be funded by rental housing provider
  • Safer legal properties to rent
  • Potential reduction of enforcement costs to tax base
  • Possible elimination of unsafe, non-compliant properties from market
  • Early awareness of requirements allows for collaborative compliance
  • Competition from unsafe, non-compliant properties reduced
  • Housing stock is maintained
  • Inspection enforcement encourages preventative maintenance, which is more cost effective than deferred maintenance, and thereby helps owners maintain their properties
  • Housing inhabited by the most vulnerable populations, which is frequently the worst housing, is inspected annually
  • Poorly maintained, substandard housing can have a negative effect on neighboring property values

 

DISADVANTAGES OF LICENSING

  • Financial costs associated with a licence, passed on to tenants, higher rents
  • Financial costs associated with insurance, passed on to tenants, higher rents
  • Financial costs associated with bringing a property into compliance passed on to tenants, higher rents
  • Potential loss of rental income due to enforcement
  • Potential loss of affordable housing stock
  • May have an impact on affordable housing
  • Licensing rental housing may not be effective in addressing behavioural issues
  • Residential rental licensing should not be considered as an alternative to enforcement of existing by-laws

 

UNKNOWNS OF LICENSING

  • Although consent of entry written into regulation, unknown if tenants/owners will allow inspection
  • Compliance rates – follow-ups could be time consuming
  • Actual rental homes in Pilot Project area – 1,500 to 2,000 units estimated

 

RAHB is in contact with City of Hamilton staff to obtain more specifics on the plan moving forward and will provide those to RAHB members as they are obtained.

If you have any questions, please contact Wendy Stewart in the RAHB office at wendys@rahb.ca or 905.529.8101 x295 for more information.

More information can also be found on the City of Hamilton website at https://www.hamilton.ca/council-committee/council-committee-meetings/rental-housing-sub-committee.

0 0

CREA Announcement re: Sold Data on REALTOR.ca

On October 3, RAHB received an e-mail from CREA, as did their other members, informing us that CREA’s Board of Directors recently decided to allow the future posting of sold data on REALTOR.ca. This announcement came as a surprise to us since we were not consulted in this matter.
We are seeking clarification from CREA about their plans, and will share those with you as soon as they become available. We will also be seeking input from you, our members, before RAHB’s Board of Directors makes any decision on how to proceed.
To view the CREA announcement, please click on the below button:
0 0

New RAHB Statistics Packages – Including CREA’s Home Price Index (HPI)

New RAHB Statistics Packages will be coming in October for the September 2018 data – and it will include CREA’s Home Price Index (HPI)

Over the past several months, RAHB has been investigating ways to update the statistics packages we provide to members and the public each month. Through much research and consultation, RAHB will be releasing a new statistics package in October for the September data. This new package is more comprehensive, and includes CREA’s Home Price Index (HPI) and additional resources.

Please see below for a listing of the new items found within the RAHB member statistics packages. Links are provided to the updated documents (with August data), and where links are not provided they will be a part of the new packages starting in October. These items with August data are for you to become better acquainted with the new packages, and are not meant for distribution.

*Please note that the HPI reports are quite lengthy, should you want to print them.

New RAHB Market Statistics Reports

Entire RAHB Area

Burlington

Haldimand
Hamilton
Niagara North

 


What is the Same and What is New with RAHB’s Monthly Market Statistics Reports?

What’s the Same? What is New?
Release statistics reports to members and the media on the 3rd business day of the month. Data is pulled on the 1st business day of the month.
Very similar data/statistics reported within the RAHB tables and charts (i.e. Average/Median Sale Price, # of Listings, Days on Market, etc.). The data in previous reports was by sales/listings by RAHB members. The data will now include RAHB member and non-RAHB member data, and be tailored specific to the four main areas within our market – Burlington, Hamilton, Haldimand and Niagara North.
We will continue to provide a geographic map of the RAHB market area with average sale prices and number of sales. Some geographic properties have been added to the map (i.e. lakes, major highways, escarpment), and we will also now include separate maps for the four main areas within our market – Burlington, Hamilton, Haldimand and Niagara North.
We will continue to provide charts with commercial information. We have broken down the commercial data by the four major areas within our market, and added “sales volume” to the list.
We will now be providing Home Price Index (HPI) reports, tailored for the four major areas within our market.
Members will still have access to Matrix/SIM to pull and tailor data for your needs. Members will now have access to CREA’s HPI tool, Tableau (more information below), which will allow members to pull trends and data for specific sub-neighbourhoods throughout our market.
We will begin reporting weekly statistics on News & Alerts (Matrix) every Wednesday. These stats will cover the four major areas of our market and include: Residential New Listings, Residential Sold, Residential Average Price, Commercial New Listings and Commercial Sold.


Weekly Statistical Reporting

In addition to the above documents and resources, we will be providing weekly statistics updates via Matrix/News & Alerts, so please watch out for this information.


CREA’s HPI – What is it?

Developed using data from the Multiple Listing Service®, the MLS® Home Price Index (HPI) allows you to see trends in home prices for a specific type of house in a given neighbourhood.

Combined with your knowledge, experience and skills as a REALTOR®, the HPI will help your clients better understand these trends — and how they can affect the market value of your client’s home.

More importantly, though, it helps your clients approach one of life’s most important decisions — buying or selling a home — with greater confidence.

For more information on CREA’s Home Price Index (HPI) please visit www.crea.ca/housing-market-stats/mls-home-price-index/.

CREA’s HPI Tool – Tableau

Use Tableau

For more information on how to use the HPI Tool, please visit www.crea.ca/housing-market-stats/mls-home-price-index/getting-started/.

We Want to Hear From You!

Although we have updated the monthly RAHB statistics packages and included CREA’s HPI, the way we provide our members with valuable data is never final. We encourage questions and feedback from all RAHB members about the new statistics packages and CREA’s HPI so we can continually work to enhance the resources RAHB REALTORS® have. Please click below and submit your questions and feedback. Thank you in advance.

Please Submit Your Questions and Feedback

Thank you to the RAHB Statistics Task Force and to the RAHB members who took the time to complete the RAHB statistics survey in July. Your input helped guide these updates.

Additional Resources

www.crea.ca/wp-content/uploads/2016/07/HPI_Methodology.pdf

www.crea.ca/housing-market-stats/mls-home-price-index/

www.crea.ca/housing-market-stats/mls-home-price-index/hpi-tool/

0 0

HPI Tool – Tableau

Use the 3 tabs above to navigate the different views of the dashboard. Each tab is labelled with a description of the information contained in that view. For more information on how to use the HPI Tool, consult the Getting Started section.

The MLS® HPI data is now available to download in Excel (.xlsx) format.

We Want to Hear From You!

Although we have updated the monthly RAHB statistics packages and included CREA’s HPI, the way we provide our members with valuable data is never final. We encourage questions and feedback from all RAHB members about the new statistics packages and CREA’s HPI so we can continually work to enhance the resources RAHB REALTORS® have. Please click below and submit your questions and feedback. Thank you in advance.

 

Please Submit Your Questions and Feedback

0 0

Broker of Record / Manager Meeting Update – September 19, 2018

On September 19, 2018 a Broker of Record / Manager meeting was held at McMaster Innovation Park. With 33 people in attendance, there were several engaging and informative discussions that took place, and below is a summary of the topics discussed:

 

VOW / Competition Bureau Ruling with Respect to TREB
On August 23, 2018 the Supreme Court of Canada dismissed TREB’s application to appeal the Competition Tribunal’s ruling that TREB abused its dominant position. Real estate boards and associations that currently have a Virtual Office Website (VOW) data feed, or are considering implementing one (as RAHB currently is) are expected to follow the decision of the Supreme Court of Canada and the Competition Tribunal with respect to making “Disputed Data” available for members who wish to implement password protected virtual office websites.

RAHB informed the Brokers / Managers of the details of the case, provided a brief overview of the history, and discussions were had about RAHB actions moving forward. For information, please visit the RAHB Blog at https://blog.rahb.ca/?p=23240.

 

New RAHB Market Statistics Report
Brokers / Managers were presented with an overview of the new RAHB market statistics packages that will be officially launched on October 3 for the September data release. The new reports will have data broken down into the four main areas of RAHB – Burlington, Haldimand, Hamilton and Niagara North – and include CREA’s Home Price Index (HPI) data. A sample of this report will be sent to all members via e-mail prior to the official launch. Feedback on the new package is welcomed.

 

Realtor.ca
Discussions took place regarding Zillow beginning to enter the real estate market in Canada
, expected to be in 2019. The Directors are encouraging CREA to provide the appropriate resources to ensure Realtor.ca remains the dominant platform for REALTORS® in Canada.

A question raised was: What is CREA doing on behalf of its members to maintain/upgrade Realtor.ca? It was suggested that a town hall meeting with CREA and RAHB members take place to discuss the wants/needs of our members could be beneficial. RAHB is looking to make this happen and will inform members of any developments on this.

 

RAHB Education
Two areas of concern were identified for further investigation:

  • The process to determine and approve courses/speakers offered by RAHB.
  • The pricing model for RAHB education courses.

It was agreed that we want to maintain the highest quality of courses being offered to members. RAHB staff will investigate the above two priorities, and any changes or updates to RAHB education will be communicated to all members.

 

RAHB Service Awards
RAHB Services Awards Committee Chair, Bruce Moran, highlighted the three service awards available and encouraged members to nominate any qualified candidates. Nominations are currently open and forms can be found on the RAHB website at www.rahb.ca/project/rahb-service-awards/. Bruce also emphasized that nominations are judged on strict criteria, and so extensive details included within each nomination enhance a nominee’s probability of winning.

 

Professionalism and REALTOR® Reputation
An open discussion item was brought forth focusing on ensuring professionalism in real estate to enhance the reputation of REALTORS®. RAHB currently has a task force working on this specific issue, and as new items evolve they will be continually addressed.

 

Mandatory Membership within RAHB
The question was raised as to why a brokerage is mandated to hold a RAHB membership for its REALTORS® if the majority of the REALTORS® in that office do not conduct business within RAHB’s market/catchment. RAHB will investigate this rule further and determine its continued relevance.

If you have any questions regarding any of the above topics/discussions, please contact Carolyn in the RAHB office 905.529.8101 x236, or via e-mail at info@rahb.ca.

0 0

RAHB REALTORS® Release July Statistics

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,072 residential sales were processed through the RAHB Multiple Listing Service® (MLS®) System in July 2018, 4.7 per cent fewer than the same month last year and 16.3 per cent fewer than the 10-year average for the month.

Please click here to read the full report.

Follow the links below for:

0 0