The Shift – February 19
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RAHB Average Price by District – (#) Residential Unit Sales
Hamilton
Hamilton West, 10 – 12
Hamilton East, 23, 24, 27 – 29
Hamilton Centre, 13, 14, 20 – 22
Hamilton Mountain, 15 – 18, 25 & 26
Burlington, 30 – 36, 38
Outlying
Flamborough, 40, 43 – 45
Dundas, 41
Ancaster, 42
Waterdown, 46
Stoney Creek, 50 – 52
Glanbrook, 53
Grimsby, 54 -55
West Lincoln, 56
Smithville, 57
Dunnville, 61
Cayuga, 62
Calendonia/Hagersville, 63 & 70
Onieda/Seneca, 71 & 64
Rainham, 65
Canborough/Dunn, 60
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 779 sales were processed through the RAHB Multiple Listing Service® (MLS®) System in January. Sales were 9.3 per cent higher than the same month last year and four per cent higher than the 10-year average.
There were 1,248 properties listed in January, a decrease of 14.9 per cent compared to January of last year, and the lowest number of listings taken in a January for the last 10 years.
“Last month’s sales were like the weather in January – warmer than usual,” said RAHB CEO George O’Neill. “When you put higher than average sales with the lowest number of new listings in 10 years, you get a continued seller’s market to start the year. Currently there is less than three months of listing inventory to move forward toward the spring market.”
Seasonally adjusted* sales of residential properties were 12.3 per cent higher than the same month last year, with the average sale price up 7.5 per cent for the month. Seasonally adjusted numbers of new listings were 11.6 per cent lower than January of 2015.
Seasonally adjusted data for residential properties for the month of January, 2016:
Actual overall residential sales of 735 units were 7.8 per cent higher than the same month last year. Residential freehold sales were 9.2 per cent higher than January of 2015 while sales in the condominium market increased by less than one per cent.
The average price of freehold properties showed an increase of 8.6 per cent compared to January of last year; the average sale price in the condominium market increased by 1.3 per cent when compared to the same period.
The average sale price is based on the total dollar volume of all properties sold by RAHB members. Average sale price information can be useful in establishing long term trends, but should not be used as an indicator that specific properties have increased or decreased in value. Contact a REALTOR® for information about your area or property.
The average days on market increased from 46 to 49 days in the freehold market and decreased from 51 to 50 days in the condominium market when compared to the same month the previous year.
“It is always advisable to use the services of a REALTOR® when you are listing or selling a home,” added O’Neill, “but it’s especially important in a prolonged seller’s market such as we are experiencing. REALTORS® can help home sellers price their homes appropriately for the market, and help home buyers compare and pay a fair market value for their new home.”
Every community in RAHB’s market area has its own localized residential market. Please refer to the accompanying chart.
*Seasonal adjustment removes normal seasonal variations, enabling analysis of monthly changes and fundamental trends in the data.
Established in 1921, the REALTORS® Association of Hamilton-Burlington (RAHB) represents more than 2,900 real estate brokers and sales representatives from Hamilton, Burlington and outlying areas. Members of the association may use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict code of ethics. The association operates the local Multiple Listing Service® (MLS®) and provides ongoing professional education courses for its members. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at www.REALTOR.ca. More information about RAHB is available at www.rahb.ca.
This one-day conference is filled with opportunities and events designed for REALTORS®, and you are invited to attend!
What’s Happening
Lunch time Panel with Moderator Keanin Loomis – Find out more about local municipal initiatives
Knowledge Pods in the Exhibit Hall – stop for a few minutes and learn from the pros
CONNECTIONS Café – a place to meet and chat with your colleagues about issues of the day
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Wednesday, March 23, 2016
8 a.m. – 2 p.m. (Badge pick up begins at 7:30 a.m.)
Hamilton Convention Centre
1 Summer’s Lane, Hamilton
FREE for members who register by 8:30 a.m., Monday, March 7.*
$35+HST for RAHB members registering after the cut off or at the door.
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For more information, visit here. Register online or contact Sheila at the RAHB office – 905.529.8101 x234 or email sheilas@rahb.ca
* Members who register before 8:30 a.m. Monday, March 7 but do not attend REALTOR® CONNECTIONS (and do not cancel
their registration in advance of the event – see cancellation policy below) will have a $35+HST administration fee charged to their RAHB account.
Cancellation Policy: Cancellations will be accepted until 8:30 a.m., Monday, March 14. Cancellations received after that date will not be eligible for any applicable refund.
Computer
Held at RAHB – 505 York Blvd. – Lower Level
C – Chambers Room M – McCullough Room
Courses
Board of Directors, Committee and
Task Force Meetings
Held at RAHB – 505 York Blvd. – First Floor
T – Thompson Room P – Purnell Room
Upcoming Events
Office Closures
The RAHB office will be closed
Monday, February 15 – Family Day
(From the GeoWarehouse blog, January 25, 2016)
Teranet has announced its New GeoWarehouse – everything you loved about GeoWarehouse, only better. Here are just a few of the improvements:
• An enhanced single search bar makes property searches even easier
o Quick search by address, name, PIN or ARN
o View recent search activities
o Receive real-time suggestions as you type
• Improved map search
o Single-click map search
o Quick links to the Property Report and full-screen Street View
o Location detection to find properties near you
• Enriched comparable sales search
o Quick access to comparable sales search
o Custom polygon drawing tool
o Real-time stats
Sign up to learn more here
From the Registrar’s office ….
In response to registrant feedback, RECO is making changes to further help registrants comply with regulations, starting with a new process to review advertising before it is published.
A new Registrar’s Bulletin describes a new procedure whereby RECO will review registrant advertising before it is published. RECO will review the advertisement when asked to do so by a Broker of Record. The bulletin also introduces a new process for registrant-based complaints about advertising. All registrants should review the bulletin as soon as possible.
The changes are intended to:
The changes took effect January 1, 2016.
The following article appeared in the January, 2016 issue of OREA’s “The Edge” by Merv Burgard, Q.C
It all began when a home owner arranged for an alarm system to be installed in his residence. The cost of installing the system was more than $700 and the package featured a keypad entry and basic alarm system. The owner also signed up for a monitoring service, which included a monthly charge of $45.14. A modem was installed that would trigger the monitoring device.
Some 18 months later, the same owner decided to sell his home. The agreement of purchase and sale (APS) stated: “Chattels included … Alarm system and equipment.” However, the only item listed in the Rented Equipment category
was as follows: “Hot water tank with the buyer to assume the rental contract.”
In the course of the property sale, a lawsuit ensued. The buyer and seller disagreed on whether the buyer was required to assume the monthly charges for the alarm system. The seller claimed that the buyer was to have taken over the cost of the alarm modem and monitoring system.
The judge in this case ruled that the APS was a “botched” agreement. It was not made clear to the court why the seller did not have the modem and alarm monitoring system removed from his prior residence and transferred to his new residence, to minimize costs. The seller stated that he did not know where the modem had been physically located. The judge ruled that the seller was responsible for the monthly charges. The seller’s claim against the buyer was dismissed.
Gu v Carnovale 2013 CanLII 60220
This content has been reproduced with permission from the Ontario Real Estate Association.
You will soon be receiving a brochure that describes the benefits of the Plan which is underwritten by ManuLife Financial. If you want more information, click here, the website designed exclusively for CREA members, where you can evaluate the merits of the plan and get a no-obligation quote.
Metal sign frames to promote listings & open house showings:
Colonial “L” Style – 2 pieces
Choice of black or white
31”w x 72”h (11” shank w/stabilizer bar)
$32.05 each*
Colonial bottoms only
Choice of black or white, 35” h
(11” shank w/stabilizer bar)
$20.25 each*
Colonial tops only
Choice of black or white
$17.00 each*
Double “H” style – 2 pieces
Black only
24 ½”w x 54”h
(14” shank)
Holds 18”h x 24”w
sign inserts
$27.85 each*
Double “H” bottom only – Black only
$16.75 each*
Open House “A” frame
Choice of black or white
Holds 24”w x 18”h sign inserts
$25.75 each*
Sign inserts for “A” & “H” frames
Red letters on white background, 4 sign choices, 24”w x 18”h each
• Open House This Sunday 2 – 4 p.m./
Open House This Saturday 2 – 4 p.m.
(printed both sides) $5.22 each*
• Open House with arrow – $3.90 each*
• REALTOR® On Duty – $3.90 each*
• Garage Sale with arrow – $3.90 each*
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* All applicable taxes are extra. Prices subject to change.
Monday – Friday, 8:30 a.m. – 4:30 p.m.
T.: 905.529.5979 F.: 905.529.7109 E.: realtyshoppe@rahb.ca
Mould
Wednesday, February 10, 2016
10 a.m. – Noon
Instructor: Richard Merkley
Register here
Tax and Investment Planning for REALTORS®
Friday, February 12, 2016
10 a.m. – Noon
Instructor: Ed Ounpuu
Register here
Tax and Estate Planning – Part II
Monday, February 29, 2016
10 a.m. – Noon
Instructor: Hem Bhatt
Register here
OREA 2016 Standard Forms and Clause Revision Update
Friday, March 4, 2016
9:30 a.m. – Noon OR 1 p.m. – 3:30 p.m.
Instructor: Cassandra Agnew Walker
Register here
Problems with Older Homes
Friday, April 8, 2016
10 a.m. – 11:30 a.m.
Instructor: Andrew McCarthy
Register here
HST for the Real Estate Professional
Wednesday, May 12, 2016
10 a.m. – Noon
Instructor: Ed Ounpuu
Register here
All the above courses are free for RAHB members (although members who register but do not attend will be assessed a no-show fee on their monthly invoice) and will be held at the RAHB office, McCullough Room (lower level). For more information or to register, contact Angela at angelam@rahb.ca or call 905.529.8101 x233.
e-PRO® Day 1 – Certification course
Wednesday, May 11, 2016
8:30 a.m. – 4:30 p.m.
Fee: $199+HST
Note: e-PRO® Day 2 – is completed online
Fee: $149 +HST
Register here