The Linda Maguire Team earns the Royal LePage Chairman's Award for the top 1% of Realtors in Canada

Many thanks to our terrific clients and team members for propelling us to the top 1% of Royal LePage Realtors in Canada in 2017

National Chairman's Club is awarded to the top one percent of the Royal LePage residential sales force of a designated period based on gross closed and collected commissions GCI) and starting in 2017, including closed units sold. 

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Here we are at the beginning of December 2017, and time for another market update video 

 The market has been balanced but a bit unsettled.

• We saw home prices peak in March/April, after a 35% year-over-year, growth which was then followed by a drop in prices over the early summer.  Things quickly switched from a Seller’s market to a Buyer’s market.
• In July August, prices bottomed out at about 15% down from the peak and buyers started to purchase again in September October.
• So while prices are still up roughly 20% from last December, the market is unsettled.
  • The biggest factor affecting the market is the new mortgage qualification rules. 
  • Roughly 10% of buyers will see a reduction in their buying power as of January 1.
  • Some buyers are getting in before the new mortgage rules apply, while others are waiting to see if the new rules cause a further drop in prices.
  • In the current market
    • Buyers have an opportunity to purchase a home without being in competition. 
    • Seller’s are typically now getting within 5% of their asking price, for properly priced homes
    • So its what we call a Balanced Market.
• What will 2018 bring?
  • We expect Burlington Oakville and Hamilton to continue to be among the best cities for real estate investment in Canada.  Its unlikely that we’ll see 35% price growth again any time soon, but with the flow of people moving from the Toronto market, real estate here should continue to be a great investment in 2018 and beyond.
• We’re happy to help with advice, ideas, or just a conversation about everyone’s favorite topic – real estate.  

#LindaMaguireRE