Serving Oakville * Burlington * South Mississauga * Hamilton * Flamborough
Summer is finally here, evidence - the heat in these last few days. Yahoo! Now is the perfect time to let you know of some our favourite upcoming local events.
We also thought we should include a brief overview of the state of the local housing markets. Call us if you or someone you know is thinking about making a move.
We all wish you a wonderful summer.
REAL ESTATE REALITY CHECK
There is lots in the news about the softening of the housing market. Again, as these things go, there are always two sides to every story. Last year I talked alot about Supply and Demand - there was lots of demand and not much supply, hence prices went sky high. This year, the numbers indicate that we have lots of supply, at the same time as demand has dried right up. This lack of demand is due in part to : new mortgage rules (stress testing), concerns about the economy (equity markets on a roller coaster, Trump, NAFTA), an increase in interest rates (albeit modest). If we look at what we are seeing in Oakville (Burlington is not quite as drastic), we see that Buyers are taking their time, looking for a bargain. They are slow to make an offer, and are very cautious when they do. When an Offer comes in, there is a great deal of negotiation. And even when an Offer gets Accepted, there are sometimes more negotiations to get the Conditions met. With only 10 years in the business, I may not have the historical perspective, but I can say that I have not seen a Spring quite like this one.
Pricing is more important now than ever. If the buyers perceive that a home is overpriced, the resultant response is for Buyers to sit back and just wait. This is nerve-wracking for any Seller. The good news in this? Prices. Remove the 2017 prices you saw from your memory. Gone. To date, pricing looks very similar, even a tad higher than 2016 levels. For the most part, this was 5-8% higher than the year before. No one is losing money. We just need to manage our expectations.
The NRTeam continues to have success in this unusual market. With our clients, we are working hard to be nimble and reactive to the signals we are getting. Do not hesitate to get in touch with us if you have questions or if you would like to sit down with me or one of my team over a cup of coffee to discuss your goals.
SUMMER IN OAKVILLE
The exciting events taking place downtown this season
The Oakville Towne Square is a happening place all summer long with the town's new Summer Series which runs from June 7th to September 2nd.
Thursdays - Summertime Movies at 9pm
Fridays - Music in the Square at 7pm
Saturdays - Farmers Market on George St. 8am to 2pm
Saturdays and Sundays - Wellness Weekends for Yoga and Exercise Classes in the Square
This weekend check out our local film festival from Friday to Sunday. The movie screenings are FREE you just have to book a seat a head of time, they are showcasing films from all genres by a variety of Canadian and International filmmakers.
Mark it in your calendars! One of our team favourites, Midnight Madness is happening Friday, July 13th at 6pm. A night full of music, culture, food and shopping as the town takes over Lakeshore Rd till Midnight. Parking is literally madness so we always recommend to carpool and walk in. Celebrating 40 years this summer, Midnight Madness is the event of the summer.
This summer Art in the Park will be taking place Monday, August 6th from 10am to 5pm at Bronte's Waterfront Heritage Park. It began as a celebration of local art and has grown to feature more than 175 artists. Enjoy some beautiful artworks with live music and great food choices.
TD Songs of Summer Music & Arts is planned for August 10th and 11th along Oakville's downtown. The event takes the place of the Downtown Oakville Jazz Festival but is much the same, with free entrance and a variety of music and art experiences. Fun for the whole family!
From June 13th to September 5th visit the Royal Botanical Gardens Hendrie Park on Tuesdays and Wednesdays for lovely evenings of live music. From Jazz and Blues to Country, they've got everyone covered.
From July 20th to 22nd feast your taste buds on some of the top food trucks at Spencer Smith Park. Experience the beautiful Burlington waterfront with some of the best food in the country as well as some local performers, cold beer and hilariously entertaining eating challenges.
You'll definitely find us in the lavender fields this month!
It is officially lavender season and we are on our way to Terre Bleu Milton's beautiful lavender farm. Learn about the beautiful flower in a tour of the farm from June 16th to 24th, or test your yoga skills with "Yoga in the Fields" between 10am and 11am, June 23rd and 24th. Can't make it for the events? It's just as much fun to wander through the purple, fragrant fields throughout the summer.
BURLINGTON - August 31st to September 3rd at Spencer Smith Park
Oakville's Ribfest may be smaller in scale but it is a great warm up to Canada's Largest Ribfest in Burlington. Both events feature award-winning recipes and succulents skills, and also includes live music and activities for the kids!