RE/MAX affiliates raised $100,000 for Children’s Miracle Network during Activate 2019 Conference

RE/MAX affiliates raised $100,000 for Children’s Miracle Network during Activate 2019 Conference

RE/MAX of Western Canada hosted the RE/MAX Annual Canadian Conference and raised $100,000 for Children’s Miracle Network in support of local Children’s Hospitals in 24 hours during the three day event, October 23-25, 2019 held at the Fairmont Banff Springs, Banff, AB.  The conference was attended by over 800 RE/MAX agents, owners and managers from across Canada and the US.

Several fundraising initiatives occurred during the conference which included; silent auction, live auction, raffle for a trip for two to Maui, Flip for Kids Coin Toss, as well as a number of other organized initiatives by the attendees. Collectively these fundraising events raised $95,180 for Children’s Miracle Network member hospitals. However, prior to the announcement of the amount raised, an agent and long-time supporter of Children’s Miracle Network made a donation in memory of his mother who was an RE/MAX agent for over 20 years, to bring the fundraising total to $100,000! This is just one example how RE/MAX agents put their money where the miracles are!

“Reaching this $100,000 milestone would not be possible without the generosity of our wonderful agents, brokers and managers. I am honoured to be affiliated with such amazing people that care so much about the health and well being of children.  Their donations, bids and other fundraising efforts are making a difference,” Marie Sheppy, Manager, Corporate Affairs, RE/MAX of Western Canada. “If we can change kids’ health, we can change the future!”

Since becoming a Children’s Miracle Network sponsor in 1992, RE/MAX affiliates in Canada have donated over $72 million, these funds are vital in treating the 2.3 million children that visit a children’s hospital in Canada every year. Many funds raised by RE/MAX is through the RE/MAX Miracle Home Program, RE/MAX agents donate a portion of their income from each home sale.  These donations help fund paediatric medical equipment and treatments, as well as other healthcare services.

About RE/MAX Canada

RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 125,000 agents provide RE/MAX a global reach of more than 110 countries and territories. RE/MAX is Canada’s leading real estate organization with more than 21,000 Sales Associates and over 922 independently-owned and operated offices nationwide. RE/MAX, LLC, one of the world’s leading franchisors of real estate brokerage services, is a subsidiary of RE/MAX Holdings, Inc. (NYSE:RMAX). With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $150 million for Children’s Miracle Network Hospitals® and other charities. For more information about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.ca.

Gelderman.ca Real Estate Team
RE/MAX Aldercenter Realty

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Breaking Down the Housing Debate

Everything you need to know ahead of the 

2019 Federal Election

The 2019 federal election is fast approaching, and the housing debate continues to be a hot topic in the country. A national housing strategy that’s assessed annually and updated based on economic markers and buying trends is crucial to the longevity of Canada’s housing market.

Over the last year and half, real estate has made headlines: interest rates, high home prices, affordable housing strategies, and government intervention with new regulations such as the mortgage stress test.

Many Canadians, especially millennials, new immigrants and those employed in the so-called “gig economy” feel home ownership is becoming less tangible by the day. While politicians of all stripes acknowledge the mounting urgency of affordable housing, few are offering any timely or compelling solutions.

To-date, Canada’s housing affordability issue remains rampant. The government has made efforts to help Canadians effectively manage their household debt as a way to improve affordability, with the mortgage stress test, which I am 100 per cent supportive of – but the stress test has done more harm than good and is simply unrealistic based on economic forecasts.

As a country, we must incentivize and support homebuyers – especially first timers who are currently precluded from entering the housing market. We can’t let policies become barriers to the Canadian dream. We need a strategy to resolve our housing challenges in the long-term versus Band-Aid solutions to appease political agendas in the short-term.

To this end, it’s important that voters consider the different viewpoints of the parties as well as their own, as they prepare to cast their vote on October 21. Here’s an overview of the biggest housing hurdles to be addressed, as well as the party positions thus far.

Housing affordability and cost of living are among voters’ top concerns, making this the number-one focus for all party candidates in the 2019 Federal Election. Canadians seek a government that will address their housing concerns and prioritize the health of our economy. As election day nears, I encourage Canadian voters to educate themselves on the issues, and consider their candidates’ answers to these questions, to help inform their decisions:

1. How will you address the mortgage stress test to ensure it effectively addresses housing affordability?
2. How will you encourage millennials and first-time homebuyers to purchase homes?
3. What’s the plan to create more affordable housing across the country – particularly in hot markets such as Toronto and Vancouver?

Housing debate topics up for discussion – and action

HOUSING SHORTAGE

Between the lack of rental housing, supply of affordable housing and less incentive for developers to build more, Canada is experiencing a serious housing shortage. This is particularly true in our two biggest markets, Vancouver and Toronto, where the average cost of living continues to tick upward, and residents are left scrambling for affordable alternatives. Candidates must explore solutions that incentivize developers to produce more supply, but also provide options to citizens that enable them to purchase homes more easily and affordably.

SHORT-TERM RENTALS

Short-term rentals have removed approximately 31,000 spaces from the rental market, having a big impact on the long-term supply. While Canadians struggle to purchase affordable homes, they also struggle to find housing alternatives in the short-term, with the average one-bedroom in Toronto costing $534,349. This trend is not going away and must be addressed at the federal level now. From an investor standpoint, short-term rentals make sense, but in the context of liveability and neighbourhood dynamism, they pose many challenges for Canadians who looking for a place to call “home.” Governments need to consider regulation to ensure both stakeholders are well taken care of, and that the issues of both parties are addressed appropriately and effectively.

MORGAGE STRESS TEST

Homebuyers deserve an opportunity to climb the property ladder as much as previous generations, but the mortgage stress test in its current form is an obstacle in what has become a far-fetched dream. I am 100 per cent supportive of responsible debt levels and policies to ensure that goal, but let’s be realistic. Even with the recent modifications to the mortgage stress test, it still isn’t solving the affordability crisis in our country. Quite simply, the circumstances under which the stress test was first introduced are no longer a reality. As we look toward October’s election, it’s crucial to consider how government intervention might help or hinder Canada’s housing market. At the very least, Canada’s next government needs to reassess the stress test.

Every party has made plans and promises in the great housing debate. Will it be enough?

Justin Trudeau’s Liberals1

On the Mortgage Stress Test:

• Undertake a review of escalating home prices in high-priced markets – like Vancouver and Toronto – to determine whether speculation is driving up the cost of housing.
• Increased the amount first-time buyers can withdraw from their RRSP’s to $35,000 from $25,000 in budget 2019
• Earmarked $1.25 billion over the next three years for First-Time Homebuyers’ Incentive (which launched September 2, 2019)6
• On September 12, 2019, promised an expansion of the First-Time Home Buyer Incentive (FTHBI) program to cover home values up to $789,000 in hot markets of Toronto, Vancouver and Victoria if elected.7
• Up to $40,000 in interest-free loans for renovations to improve energy efficiency of homes. Grants of up to $5,000 to those buying zero-emissions new homes.
• Addressing house-price inflation with a one-per-cent annual vacancy and speculation tax on homes held by non-residents or non-Canadians.

On Short-Term rentals:

• Increase the new residential rental property rebate on the GST to 100 per cent, eliminating all GST on new capital investments in affordable rental housing.

On the Housing Shortage:

• Provide $125 million per year in tax incentives to increase and substantially renovate the supply of rental housing across Canada.
• As part of a new, 10-year investment of nearly $20 billion in social infrastructure, prioritize significant new investment in affordable housing and seniors’ facilities.

Andrew Sheer’s Conservatives

On the Mortgage Stress Test:

• Promised to scrap the tests on mortgage switches and consider additional measures that will improve housing affordability.2
• Criticized the Liberals’ Carbon Tax, claiming that it will further erode affordability/cost of living, pushing the dream of home ownership even farther.3

On the Housing Shortage:

• Will help get new homes built across Canada, addressing housing shortages and affordability issues by cutting red tape, shortening timelines and bringing down costs. 3

Jagmeet Singh’s NDPs

On the Mortgage Stress Test:

• Double the homebuyer’s tax credit to $1,500 for first-time buyers.
• Re-introduce 30-year terms to Canada Mortgage and Housing Corporation (CMHC) insured mortgages for first-time homebuyers.

On Short-Term rentals:

• Remove GST/HST on the construction of new rental units.

On the Housing Shortage:

• Create 500,000 units of quality, affordable housing in the next 10 years.

Elizabeth May’s Green Party

On the Housing Shortage:

• New developments will have a minimum of 20 per cent affordable homes.
• Push for innovative solutions such as “tiny homes,” laneway housing, co-housing and secondary suites.
• Invest an additional $200 million over projected increases in the 2018 budget in funding for shelters, social, co-op and supportive housing.

Real estate continues to be one of the safest and most reliable financial investments for Canadians. As real estate professionals, it’s our duty to help potential homebuyers navigate this tricky landscape and support them in determining their best options. We urge governments to develop a national housing strategy that addresses all issues relating to affordability, or risk pushing the Canadian dream of home ownership that much farther away for all.

Sources:
1 Our plan for affordable housing, liberal.ca
2 Conservative leader vows to end stress test on mortgage switches, whichmortgage.ca
3 Scheer says we are in a cost-of-living crunch, stcatharinesstandard.ca
4 2019 federal election platform guide: Where parties stand on everything, macleans.ca
5 Our platform, gpo.ca
6 2019 federal election platform tracker: Where the major parties stand so far, bnnbloomberg.ca
7 Trudeau Liberals promise to expand first-time homebuyers program if elected, globalnews.ca

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September 2019 - Fraser Valley Housing Market Statistics

Property sales in Fraser Valley have recovered bringing market into balance

For the third straight month, home sales in the Fraser Valley surpassed 2018  levels bringing the market back in line with long-term averages. The Fraser Valley Real Estate Board processed 1,343 sales of all property types  on its Multiple Listing Service® (MLS®) in September, a 3.5 per cent increase  compared to sales in August 2019, and a 29.8 per cent increase compared to the  1,035 sales in September of last year. Darin Germyn, President of the Board, says, "The market's return to balance is  good news for both buyers and sellers, however it's important to put the 30 per   cent year-over-year increase in sales into context. September's sales went from amongst the worst in 10 years to just above our 10-year average."   "Home prices are still dropping compared to a year ago, but on a month-to-month  basis, prices are moderating because supply is shrinking. Our incoming supply of  new listings has dropped consistently for the last four months pushing our total  inventory in the Fraser Valley to the lowest it's been since April, which has had an  impact on prices."   There were 7,946 active listings available in the Fraser Valley at the end of   September, an increase of 3.9 per cent compared to September of last year and   a decrease of 1.2 per cent compared to August 2019. The Board received  2,769 new listings in September, a 17.5 per cent increase compared to August  2019's intake of 2,357 new listings and a 6 per cent decrease compared to  September of last year.   Germyn adds, "Financing is still a challenge for many clients, but fortunately in  a balanced market like this, REALTORS® have the time to work with clients and  advise them of the best strategies for them, whether they are buying or selling." MLS® HPI Benchmark Price Activity Single Family Detached: At $950,000, the Benchmark price for a single-family detached home in the Fraser Valley decreased 0.4 per cent compared to August 2019 and decreased 3.9 per cent compared to September 2018. Townhomes: At $520,000 the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley decreased 0.3 per cent compared to August 2019 and decreased 4.8 per cent compared to September 2018. Apartments: At $405,500, the Benchmark price for apartments/condos in the Fraser Valley decreased 0.9 per cent compared to August 2019 and decreased 7.6 per cent compared to September 2018. For the Fraser Valley region, the average number of days to sell an apartment  in September was 41, and 37 for townhomes. Single family detached homes  remained on the market for an average of 46 days before selling. For the FULL Statistics Package click HERE Know someone moving ANYWHERE in the WORLD? Call us today--We know the BEST agents everywhere!!

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What You Should Know about the Fall Real Estate Market

What You Should Know about the Fall Real Estate Market

As Canadians prepare for the busy fall real estate market ahead, the decision on whether to buy or sell a home this year will be mired in more than the typical uncertainties that come with a transaction of this magnitude. Housing affordability, interest rates and the mortgage stress test were big newsmakers in 2018 and 2019, and will continue to make headlines for at least another six weeks, with the looming federal election on October 21, and lots of housing issues and policies up for debate between now and then.

So, what can consumers expect from fall real estate? Those seeking a long-range forecast will have to wait at least until election day and likely well beyond, to see what party takes power, which policies they move ahead with and how these changes play out in real time. Uncertainties aside, here’s what we do know:

Canadian homebuyers seem to be getting used to the new mortgage rules, and there have been some important changes at the federal level that are expected to impact homebuyers and in turn, home sellers:

• The mortgage stress test qualification bar was recently lowered from 5.34 to 5.19 per cent, increasing purchasing power – albeit only slightly.
• The First Time Home Buyer Incentive (FTHBI) took effect on September 2, whereby eligible first-timers can get a shared-equity government loan to help with the down payment.
• The Home Buyers’ Plan (HBP) withdrawal limit was increased from $25,000 to $35,000, toward the purchase of a first home.
• Rumours of interest rate drops are circulating. The Bank of Canada’s interest rate announcements are a trending topic worth watching every six weeks.

Beyond these factors, fall real estate does experience some seasonal effects. For home sellers, the yet-favourable weather draws crowds to open houses, and many homebuyers experience FOMO (fear of missing out) at the prospect that their days are numbered before the typical winter lull in listings. This often results in increased activity.

However, this habitual seasonality is at the mercy of market conditions, which will have a greater effect on the upcoming fall real estate market than solely the time of year. Is it a buyer’s market or a seller’s market? Demand will be the biggest factor in the buyer’s and seller’s bottom line.

Homebuyers and sellers need to remember that all housing markets are local, and it’s more important than ever to tap into the ground-level expertise of a professional real estate agent, who can best advise you on market trends, and counsel you on the timing of the transaction, and the price.

Buying or selling a home is probably the biggest transaction you’ll make in your lifetime. Don’t leave anything to chance. RE/MAX is the most widely recognized real estate brand in the world, and for more than 20 years it has been the leading real estate organization in Canada. By receiving the best training, administrative and marketing support for the RE/MAX network, brokers and agents can focus on what matters most: real estate.

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Fraser Valley housing market continues to stabilize...

Fraser Valley housing market continues to stabilize as sales pick up compared to last year

For the second month in a row, home sales in the Fraser Valley surpassed 2018  levels bringing the market closer to historical norms. The Fraser Valley Real  Estate Board processed 1,297 sales of all property types on its Multiple Listing  Service® (MLS®) in August, an 11 per cent decrease compared to sales in July  2019, and a 12.3 per cent increase compared to the 1,155 sales in August of last  year. Darin Germyn, President of the Board, observed, "Compared to last year, this  August has been quite robust. All property types are selling and we're seeing  a resurgence in the single-family detached market. Across North Delta, Surrey   and Langley, sales are up over 25 per cent."   "It's great to see. We're returning to a normal, steady market. Our sales, new  listings and number of active listings in August were all slightly below the  10-year average."   There were 8,040 active listings available in the Fraser Valley at the end of   August, an increase of 9.6 per cent compared to August of last year and a   decrease of 3.6 per cent compared to July 2019. The Board received 2,357  new listings in August, a 15.7 per cent decrease compared to July 2019's  intake of 2,797 new listings and an 8.5 per cent decrease compared to  August of last year.   Germyn adds, "Inventory has stopped growing as demand has picked up, which  is why we're also seeing prices moderate. Last month, prices of typical homes  in the Fraser Valley were on par with prices from six months ago." HPI® Benchmark Price Activity Single Family Detached: At $954,100, the Benchmark price for a single-family detached home in the Fraser Valley decreased 0.3 per cent compared to July 2019 and decreased 5.4 per cent compared to August 2018. Townhomes: At $521,400, the Benchmark price for a townhome in the Fraser Valley in the Fraser Valley increased 0.1 per cent compared to July 2019 and decreased 4.9 per cent compared to August 2018. Apartments: At $409,200, the Benchmark price for apartments/condos in the Fraser Valley decreased 0.1 per cent compared to July 2019 and decreased 7.7 per cent compared to August 2018. For the Fraser Valley region, the average number of days to sell an apartment in August was 45, and 36 for townhomes. Single family detached homes remained on the market for an average of 44 days before selling. For the FULL latest Statistics Package click HERE Visit our web site for more great information, and to  view our Team Listings www.gelderman.ca Know someone moving ANYWHERE in the WORLD? Call us today--We know the BEST agents everywhere!! Serving Abbotsford, Chilliwack, Mission, Langley, Surrey and the WORLD! Office Phone: 604-743-7653