Royal LePage Real Estate Services Loretta Phinney, Brokerage

Is the GTA housing market actually cooling off?

By: Loretta Phinney Team

Is the GTA housing market actually cooling off?

Tags: Real Estate, Fair Housing Plan, Bidding Wars, Selling price

33% more homes are on sale in April 2017 compared to April 2016. Bidding wars are less frequent. Property searches are slowing, and sellers can no longer expect selling prices to soar hundreds of thousands of dollars higher than the asking price.   A lot of these factors stem out of the Ontario government’s 16 point Fair Housing Plan. Analysts have pointed out that the government’...Read More

Goldman Sachs: Canadian housing has a 30% chance of correction

By: Loretta Phinney Team

Goldman Sachs: Canadian housing has a 30% chance of correction

Tags: Real Estate, Housing supply, Toronto, Housing markets

Goldman Sachs conducted a study on housing markets in G10 countries. They found that Canada had the third highest risk for a housing correction out of the G10.   Sweden and New Zealand have the most risk for a housing correction at 35 and 40% chance respectively. A housing correction, according to Goldman Sachs, is a price decrease of 5% or more per year.   Part of the reason for Canada&...Read More

Avocado Toast: The bane of aspiring millennial homeowners

By: Loretta Phinney Team

Avocado Toast: The bane of aspiring millennial homeowners

Tags: Housing affordability, Home ownership, first-time buyer,

If you can’t afford a home, maybe it’s due to an insatiable appetite for $19 avocado toast, according to Tim Gurner, a 35 year old real estate mogul. His main point? Discretionary spending on luxury food items is a factor in the millennial generation’s difficulty in affording homes. Millennial’s expectations for living standards are just too high.   So does Tim Gurner&...Read More

Halton Region aims to be a leader in Cycle Tourism

By: Loretta Phinney Team

Halton Region aims to be a leader in Cycle Tourism

Tags: Tourism, Cycling Infrastructure, Gran Fond, Milton Velodrome

Do you like cycling? If you do, and you live in Halton Region, the future is looking pretty good. The economic development division of Halton Region is developing a Cycle Tourism Strategy that will make Halton a premier destination for cycle tourism in the province.   Cycle tourism has become one of the fastest growing sport and recreational tourist activities in Canada and around the world. ...Read More

Clublink Appeal for Glen Abbey dismissed by the OMB

By: Loretta Phinney Team

Clublink Appeal for Glen Abbey dismissed by the OMB

Tags: Glen Abbey, Ontario Municipal Board, Oakville, Development

The contentious issue of developing Glen Abbey Golf course into housing and commercial space has come to a halt – at least for now. The Ontario Municipal Board sided with the Town of Oakville in a recent hearing.   Clublink had appealed the interim control bylaw that the Town of Oakville used to prevent development while studies were completed. Clublink argued that the interim bylaw was...Read More

More Stores in Oakville, Burlington and Mississauga selling beer and cider

By: Loretta Phinney Team

More Stores in Oakville, Burlington and Mississauga selling beer and cider

Tags: Oakville, Mississauga, Burlington, LCBO

Just in time for the summer. 76 new independent and large grocery store chains are now authorized to sell beer and cider. Which ones are close to you?   The 76 stores are added to the existing 130 that sell beer and cider. 70 of these can also sell wine. The new additions were added based on geographic distribution.   In Burlington, the new store selling beer and cider is: Fortinos, 1...Read More

What do parents think about their grown children living at home?

By: Loretta Phinney Team

What do parents think about their grown children living at home?

Tags: Real Estate, Millennials, GTA, Mortgage, Rent

More and more millennials are moving back home after university rather than moving out. Even with a modest income of $70k per year, millennials are unable to buy into the real estate market. Many parents have expressed concern with the new reality of having a full nest.   A survey of 1,000 moms was conducted to gauge their attitudes about children moving back home. About 30% of moms are anxio...Read More

How was Halton’s economy in 2016?

By: Loretta Phinney Team

How was Halton’s economy in 2016?

Tags: Real estate, Halton Region, Oakville, Burlington, Construction

Halton Region has a strong economy and the 2016 numbers show it. It’s not Toronto, it’s not Peel Region, or Hamilton. Halton’s economy is unique in its own way and has its own strengths that set it apart from other regions.   Take Halton’s building permit construction value. It grew 19% in one year. In 2016 it was worth $2.14 billion which is a new record. Building per...Read More

Local Event: Oakville Green Garage Sale and Oakville Conserves Energy Fair

By: Loretta Phinney Team

Local Event: Oakville Green Garage Sale and Oakville Conserves Energy Fair

Tags: Oakville Residents, Garage Sale, Community Event, Energy Conservation

On Saturday May 27th, Oakville Green is hosting its annual Giant Community Garage Sale. The event takes place from 8 am to 1pm at the Oakville Town Hall parking lot. There will be over 80 venders and low cost BBQ is hosted by M & M Meat Shop. The Town of Oakville is consecutively hosting the 11th annual Oakville Conserves Energy Fair inside of Town Hall. One of the main attractions will be TR...Read More

Lake Ontario Water Levels: High But not record breaking

By: Loretta Phinney Team

Lake Ontario Water Levels: High But not record breaking

Tags: Lakeside real estate, Property Flooding, Lake Ontario, GTA

Lakeside real estate is always sought after, especially in the GTA. Those with properties on the shores of Lake Ontario might have noticed something different this spring. Water levels of Lake Ontario haven’t been this high since 1993. Lake levels are 55 cm above average right now but 12 cm below the record set in 1973.   Water levels in lakes change naturally. This keeps coastal habita...Read More