In my last Market Pulse, I tried to highlight the importance of looking at context when interpreting statistical information, especially something as vague as an average.

Now that we’re looking at the whole of 2011 in reflection, let’s talk a bit about how the market performed and how averages stack up.

There were 3338 sales recorded in 2011 in Oakville. That’s 8.84% more homes sold than in 2010. The Oakville-wide average sale price was a whopping $607,783, a fantastic 7.49% higher than 2010’s average of $565,454. Good sales numbers driven by increased consumer confidence and continued low interest rates. Pretty impressive figures, no doubt, but not a true picture of Oakville’s real estate landscape, which is varied, North to South, East to West.

Looking at the chart below, we can see wild variations in the average sale price of a home in particular neighbourhoods. From a decrease of 12.5% to an increase of nearly 33%, and with averages by neighbourhood from $395,120 to $1,416,467, Oakville’s average prices are all over the place! This is a testament to the how different each neighbourhood in Oakville really is.

Take Central Oakville as an example. Down 12.5% with the exact same number of homes sold in 2011 as 2010. The reason is simple: Whereas in 2010 a good number of properties sold in Central were higher end detached homes, in 2011, more sales were entry level townhomes and condo apartments, driving the average price down. If we were to dig down a little deeper, the average price for properties under $700,000 actually increased about 8.7%. It’s only the lack of sales at higher price points that bring the overall average down.

I’ve said it before, and will say it again, averages are dangerous if used improperly. Always consult a knowledgeable Realtor® for an accurate, complete, and relevant interpretation of market statistics and conditions. 

Alexx

Post from: www.alexx.ca - Alexx Coelho, Real Estate Broker in Oakville ON

2011: Average year or stellar year?

Fantastic Penthouse with balcony! (Photo Gallery | Virtual Tour)

Property Details

Listing Price: $289,900
Address: 50 Old Mill RD #PH6
City: Oakville
Province: ON
Postal Code: L6J 7W1

MLS #: 2038318
Square Feet: 700-1100
Bedrooms: 1
Bathrooms: 1
Basement:

Property Features

This fantastic penthouse level 1 bedroom plus den unit boast 867 square feet of living space, in an efficient, spacious layout, and features ceramics and hardwood flooring throughout. The combination living room / dining room is open from the kitchen, and features hardwood floors, floor to ceiling windows, and a gas fireplace (a feature only available in penthouse level suites). A small Juliette balcony brings in plenty of fresh air. The effcient galley style kitchen offers 4 appliances, plenty of counter space, and a breakfast bar. Perfect for entertaining, and is open to the main living space. The large bedroom offers plenty of space for a queen, and even a king sized bedroom suite, with a large window bringing in plenty of natural light. Double closets (one is a walk-in) offer plenty of storage for him and her. The cozy den is open to the entry foyer and the kitchen with french doors creating a sense of privacy for a tv room, or home office setup. The spacious bathroom features a separate shower and a fantastic jacuzzi soaker tub, and the foyer has a large front hall closet, and access to a spacious in-suite laundry room with room for storage.

Room Sizes:

• Living/Dining Room10’7 X 21’2
• Kitchen 8’4 X 11’6
• Master Bedroom 9’8 X 18’9
• Den – Study 7’6 X 8’1
• 4 Piece Bathroom

Building Features:

• Outdoor BBQ area with gas grills
•  Gatehouse Concierge/Security
• Indoor pool, exercise room and sauna
• Hobby Room
• Party Room
• Workshop
• Underground parking and car wash
• Vistor Parking
• Steps to GO Station (get downtown Toronto in 27 minutes on express train)
• Easy access to highways (QEW, 403, and 407)
• Steps to Downtown (15 minute walk to downtown Oakville, 1.4kms)
• Easy access to shopping (Whole Foods, LCBO, Shopper’s Drug Mart, Oakville Place, Home Depot, No Frills, Canadian Tire, all within 5 minutes of building)

Gallery

Post from: www.alexx.ca - Alexx Coelho, Real Estate Broker in Oakville ON

Fantastic Penthouse at Old Mill!

Fantastic townhouse  at Yonge and Sheppard. (Photo Gallery | Virtual Tour)

Property Details

Listing Price: $434, 900
Address: 5 Everson Drive
City: Toronto
Province: ON
Postal Code: M2N 7C3

MLS #: C2267588
Square Feet: 1000-1199
Bedrooms: 2 +1
Bathrooms: 2
Basement:

Property Features

Welcome to this fantastic townhome located in the Yonge and Sheppard area. A high demand area close to subway, shopping and entertainment. The “Madison” model features a spacious 1150 square foot layout with a roof top patio that is perfect for entertaining!

The main level of the suite features a large combined living and dining room with plenty of natural light and laminate flooring. The spacious kitchen has been recently updated with granite countertop, and features an additional storage pantry, as well as a breakfast bar. A powder room rounds off the main level.

The second level of the home opens into a spacious den, and has two good sized bedrooms. The master bedroom comfortable fits a queen sized bedroom suite and could even fit a King. Both bedrooms have ample closet space. A well laid out 4 piece bathroom services both bedrooms on this level.

The third level provides houses your laundry closet, with some storage, and access to the large rooftop patio. Perfect for entertaining!

The entire suite is extremely clean and well maintained and has been recently painted throughout in neutral colours. 1 parking space and 1 storage locker included with the unit.

The condomium complex is well maintained and condo fees of $535.37 includes: Heat, Hydro, Water, Parking, Building Insurance and Maintenance.
Note: Hot Water Tank and Furnace are rented at $64.92 per month.

Inclusions: Fridge, Stove, B/I Dishwasher, B/I Microwave, Washer and Dryer, All Window Coverings, All Electric Light Fixtures, Kitchen Pantry 

Room Sizes

• Living: 19’5 x 13′ – combined with dining
• Dining : 19’5 x 13′ -combined with living
• Kitchen: 11′ x 9′
• Master Bedroom: 11’5 x 10′
• Bedroom: 9’8 x 9′
• Den: 10′ 5 x 10′
• Bathroom: 4 Peice
• Powder Room: 2 Peice
• Laundry
• Rooftop Patio

Gallery

Post from: www.alexx.ca - Alexx Coelho, Real Estate Broker in Oakville ON

Fantastic Townhouse at Yonge and Sheppard

Desirable, spacious and recently upgraded 4 bedroom in Westmount. (Photo Gallery | Virtual Tour)

Property Details

Listing Price: $679,900
Address: 2323 Foxfield Road
City: Oakville
Province: ON
Postal Code: L6M 4C9

MLS #: 2035995
Square Feet: 2500-3000
Bedrooms: 4 + 0
Bathrooms: 2 + 1
Basement: unfinished

Property Features

Come see this spacious & upgraded Markay built home located in desirable Westmount! Excellent layout! Gorgeous landscaping!  Manicured backyard with wrought iron fence. Aggregate driveway & walkway.  Great room with center fireplace & extra-large window.Separate dining room. Secluded master retreat:5 Piece ensuite, walkin closet & bay window.  Main floor Den & Laundry.  Large Kitchen with breakfast area.Neutral decor! Hardwood floors, S/S appliances & MORE! RSA

Additional Features Include:  Central A/C, Central Vac System, Eat-In Kitchen, Ensuite Bathroom, Main Floor Den, Main Floor Family Room, Main Floor Laundry, Seperate Dining Room 6 appliances + fridge(basement); C/A,C.VAC, Humidifier,Water Softner,all ELFS, ceiling fan, window coverings, GDO’sRoom Sizes

Room Sizes

• Great Room: 15’5 x 15’8
• Dining Room: 12’8 x 11’8
• Kitchen: 11’5 x 10’3
• Breakfast: 11’5  x 9′
• Master Bedroom: 17’3 x 11’7
• Bedroom: 12’2 x 11′
• Bedroom: 15’5 x 9′
• Bedroom: 11′ x 9′
• Den: 11′ 5 x 9′
• Laundry: 11′ x 6′

Gallery

Post from: www.alexx.ca - Alexx Coelho, Real Estate Broker in Oakville ON

Desirable 4 Bedroom in Westmount

Rarely Available townhome backing onto 16 Mile Creek . (Photo Gallery | Virtual Tour)

Property Details

Listing Price: $524,900
Address: 2303 Hill Ridge Court #4
City: Oakville
Province: ON
Postal Code: L6M 3N3

MLS #: 2037559
Square Feet: 1500-2000
Bedrooms: 2 + 0
Bathrooms: 2 + 1
Basement: None

Property Features

Enjoy this rarely available townhome backing onto 16 Mile Creek ravine on quiet, secluded complex. Open concept main floor features hardwood throughout, gas fireplace in living room, open  concept kitchen with breakfast bar, and walkout to yard overlooking ravine. Upstairs has two spacious bedrooms and a sitting/office area. Master has 4pc ensuite, walk-in closet and private balcony overlooking ravine.

Condo Fee: $405 

Building features  include: Central A/C, Central Vac System, Ensuite Bathroom. Fridge, Stove, Dishwasher, Washer, Dryer, GDO, All ELFs, Central Vac and Attach (ALL AS IS)

Room Sizes

• Living Room: 18′ x 18’5
• Dining Room: 18’5 x 10’5
• Kitchen: 10′ x 11’3
• Master Bedroom: 18’5 x 13’8
• En-Suite Bath: 4 Pieces
• Bedroom: 14’3 x 11’3
• Powder Room

Gallery

Post from: www.alexx.ca - Alexx Coelho, Real Estate Broker in Oakville ON

Fabulous Townhouse backing onto Ravine

Recently renovated, spacious 2 bedroom condo apartment. (Photo Gallery | Virtual Tour)

Property Details

Listing Price: $643.89
Address: 5250 Lakeshore Road West, 509
City: Burlington
Province: ON
Postal Code: L7L 5N2

MLS #: 2037716 / H3078726
Square Feet: 1381
Bedrooms: 2
Bathrooms: 1.5
Basement: None

Property Features

Welcome to this renovated, spacious 2 bedroom ‘Cutty Sark’ model with 1381sf of living space. The suite shows impeccable with recent upgrades: high quality laminate flooring in foyer, kitchen and hallway, new berber broadloom in living, dining, and bedrooms. Eat in kitchen updated with granite transformations, 3 stainless steel appliances, new sink and hardware. Whole unit was recently painted throughout in neutral colours. Renovated ensuite bath and powder room. Master bedroom has ensuite and lots of closet space. Second bedroom can be den or tv room. Laundry room in suite a huge bonus! Tons of closet space! Large balcony is perfect for outdoor space, and overlooks the Escarpment. Spectacular sunsets! Great location with easy access to shopping and transportation.

Condo Fee: $643.89 – includes Building insurance, exterior maintenance, heat, hydro, water, parking and basic cable tv.

Building Amenities include: heated outdoor pool, party room, exercise room, sauna, workshop, billiard and ping-pong room, woodworking and ceramic room. The building and surrounding grounds along the lake are extremely well maintained. Wonderful friendly atmosphere among neighbours.

Room Sizes

• Living Room: 24′ x 12’5
• Dining Room: 11′ x 11′
• Kitchen: 12’5 x 9’7
• Master Bedroom: 14’5 x 13’7
• En-Suite Bath: 4 Pieces
• Bedroom: 14’3 x 11’3
• Powder Room
• Laundry

Gallery

Post from: www.alexx.ca - Alexx Coelho, Real Estate Broker in Oakville ON

Renovated condo in Southeast Burlington

Happy New Year!

As with every year past, this is a time when we all make resolutions. If one of your resolutions is to become mortgage free faster, here’s a quick tip that can help with that.  

Here is a simple strategy to pay off additional principal on your mortgage.

• Open an ally.ca account (or ING Direct, if you prefer, but ally.ca pays 2% interest right now, the highest available). This is a savings account that gets linked to your main bank account, but is held at a different institution. Benefit: You can’t withdraw funds very easily. It takes a day or so, this is good!
• SAVE: Once that is setup, go to the ally.ca website and setup an automatic transfer from your chequing account (at your regular bank) to the new savings account. This is the crucial part of the exercise.
• Make it an amount that you won’t notice coming out of your account ($25, $50, $100, $150, whatever you’re comfortable with.)
• Make it come out on a weekly basis, rather than monthly. (You’ll notice $100 coming out each month, but likely won’t notice $25/week) – A smaller amount more frequently is better!
• PAY DOWN: Every 3 months, transfer the money from your ally.ca account back to your chequing and write a cheque to your mortgage company. (Most mortgages have pre-payment options, USE THEM!) This is money that goes straight to paying down your principal.
• REVIEW: Every 6 months, look at your finances and see if you can increase the transfer amount. (if you didn’t notice the transfers in the first place, increase them, and accelerate paying down your mortgage.)

What’s the impact?

• Additional $6,500 off your mortgage after 5 years by just putting $25 per week aside. (That’s a Starbucks habit, by the way), PLUS $595 in interest savings (on a 3.5%, 25 year mortgage)
• Up it to $100 per week, and you’re looking at an additional $26,000 off your mortgage at the end of 5 years (not to mention the interest saved!), PLUS $2,380 in interest savings (on a 3.5%, 25 year mortgage)

Unsure of how much you can afford to put aside? (Take half of your monthly cable bill amount, half of your Tim Horton’s bill, half of your cell phone bill, add it all up, divide by 4, and start with that as a weekly amount)

Let me know how you do.

Alexx

Post from: www.alexx.ca - Alexx Coelho, Real Estate Broker in Oakville ON

Simple tip to pay off additional principal on your mortgage

Take Control of your Mortgage

The biggest responsibility we take on as new homeowners is debt re-payment. That cursed mortgage: It enables us to get the home we want, but then sticks around for 20 to 35 years

It is every homeowner’s dream to be mortgage free, but are we doing everything we can to achieve that goal as soon as possible? (I don’t want to wait 25 or 30 years to be mortgage free, I want it A LOT SOONER than that.)

I found this company that specializes in spreadsheets, and they came up with an excellent mortgage calculator for Canadians. I use it extensively with my clients to figure out mortgage payments, personal budgets, and how it all ties in together. You can download it here: http://www.vertex42.com/Calculators/Canadian-mortgage.html  (check out their other offerings for family and personal budgets)

Why I like this calculator:

1. It lets you put in all the details of your mortgage and choose your Amortization Period (Great for planning)
2. It shows you the Fully Amortized cost of your home (what it really costs at the end of the 20-30 years)
3. It shows you the Balance at Term (what you’ll have to renew in 3-5 years – The Interest Paid should make you ill)
4. It lets you factor in Extra Payments, and as you do, reflects the impact on your Mortgage. (This is the really cool part of the spreadsheet! This is how you become MORTGAGE FREE!)

Most mortgages today have pre-payment options that allow you to make extra payments, this tool helps you visualize taking advantage of those pre-payments.

Say, for example, you have a $400,000 mortgage at 3.49%, amortized over 30 years (a typical mortgage today). Your monthly payments are $1,788.35, and in 30 years you’ll be mortgage free, (assuming the rate doesn’t change in that time period, which it will, but for argument’s sake, it stays steady)

• In the five year term of the mortgage, you’ll pay off $41,428,60 from your Principal, and $65,872.40 in Interest
• Now, you find an extra $100 (one hundred) dollars per month, and add it as an Extra Payment on your mortgage. Congratulations, you just took 2.58 YEARS off your mortgage, saving you $24,373.41 in INTEREST! (Disclaimer: this does assume your mortgage rate will stay the same the whole time, which it won’t, but the principle applies nonetheless)
• With an extra $100/month, In the five year term of the mortgage, you’ll pay off $47,969.41 from your Principal, and $65,331.59 in Interest. That’s an EXTRA $6,540.81 Paid OFF, and about $500 less interest paid.

How are YOU going to find $100 extra per month? Let us know

Alexx

Post from: www.alexx.ca - Alexx Coelho, Real Estate Broker in Oakville ON

Take Control of your Mortgage

Great bungalow on 66′x187′ lot with basement in-law suite. (Photo Gallery | Virtual Tour)

Property Details

Listing Price: $469,900
Address: 1062 Churchill Ave
City: Oakville
Province: ON
Postal Code: L6H 2A6

MLS #: 2033767
Square Feet:
Bedrooms: 3+2
Bathrooms: 2
Basement: Fully Finished, Suite

Property Features

What a great place to call home!

Welcome to 1062 Churchill Ave, a great bungalow sitting on a huge 66′ x187′ treed lot!

The main level of this home offers a spacious living/dining room, 3 bedrooms, a main bathroom, and a large kitchen with a bonus family room.

The living room/dining room has newer carpeting, as well as an updated picture window and a gas fireplace. The three bedrooms on the main level also have newer windows and offer parquet flooring throughout. The main bathroom is original, but is spacious and in good condition.

The spacious eat-in kitchen has newer appliances, updated hardware and newer laminate flooring in a rich colour. The bonus family room is just beyond the kitchen and has a large window and walk-out to the back deck, and massive yard.

Outside, a massive treed backyard offers plenty of outdoor space for a growing family, and a spacious storage shed.

Downstairs, the basement suite offers a large, newer eat-in kitchen, a newly renovated bathroom, spacious bedroom, and main living space. (Seller and Listing Brokerage do not warrant retrofit status of basement suite)

Recent Updates:

• Furnace and Air Conditioner (2008/2009
• Roof (2009/2010)
• Basement Bathroom (2010)
• Carpeting (2005)
• Kitchen Flooring (2006)

Room Sizes

• Living Room/Dining Room: 16’8 x 19’4
• Kitchen and Family Room: 29’6 x 11’4
• Main Bath: 4 Pieces
• Master Bedroom: 12’2 x 10’2
• Bedroom: 12’2 x 10′
• Bedroom: 11’7 x 9’8
• Foyer

Basement

• Kitchen: 16’2 x 14’5
• 4 Piece Bathroom
• Living Room: 17’5 x 10’7
• Bedroom: 15’8 x 11’4

Gallery

Post from: www.alexx.ca - Alexx Coelho, Real Estate Broker in Oakville ON

Bungalow on sprawling lot with in-law suite

Cute as a button 3 bedroom townhome in West Brampton. (Photo Gallery | Virtual Tour)

Property Details

Listing Price: $368,500
Address: 105 Royal Vista Road
City: Brampton
Province: ON
Postal Code: L6Y0N5

MLS #: W2173758
Square Feet: 1485
Bedrooms: 3
Bathrooms: 2.5
Basement: Unfinished

Property Features

What a great place to call home!

As you enter this home, you come upon a spacious foyer with a good sized closet. The powder room is just nearby. As you pass the upgraded wood staircase, you come upon a spacious kitchen with upgraded stainless steel appliances, ceramic tiles and an efficient U shaped layout. Beside the kitchen is a cozy breakfast area. Beyond the kitchen, the great room has parquet floors and occupies the entire back of the house and offers a great living space with plenty of natural light and a patio door to the backyard (used as Juliette balcony right now)

Upstairs, the home features three great size bedrooms, 2 bathrooms and a computer loft. As you go up the stairs, you come to the computer workspace. At the front of the house, there are two good sized bedrooms, with ample closet space. Both are serviced by a 4 piece main bathroom. Across the back of the home lies the Master bedroom suite. A good sized bedroom capable of taking in a king sized suite. It also features a spacious walk-in closet, and master en-suite bathroom with separate shower and oversized tub.

• Great Room: 16’7 x 11′
• Kitchen: 8’3 x 11′
• Breakfast: 8’4 x 11′
• Powder Room
• Foyer

Upper Level

• Master Bedroom: 12’10 x 16′
• 4 Piece En-suite
• Second Bedroom: 11’8 x 9′
• 4 Piece Bathroom
• Third Bedroom: 9’4 x 11’2
• Computer Loft: 8′ x 5’6

Basement

• Unfinished Space

Gallery

Post from: www.alexx.ca - Alexx Coelho, Real Estate Broker in Oakville ON

West Brampton 3 Bedroom Townhouse