Lee Quaile Broker of Record With so many prospective Canadian home buyers continuing to feel the negative effects of the ongoing housing crunch as we move into 2023, governments at various levels have been working for months to do what they can to legislate relief. Towards the end of last year, the Ontario provincial government secured royal assent for one of the largest such efforts seen...
Lee Quaile Broker of Record The past 24 hours have brought a pair of significant developments in our province – both of which will change how millions of Ontarians interact with our housing market. The roller coaster ride that’s characterized the past two years has been slowing for a few months now, with rising interest rates and general uncertainty working to put the brakes on the...
Lee Quaile Broker of Record The past several weeks haven’t exactly been jam packed with good news on the economic front. Canadian consumers are aware by now of the pain that’s being inflicted both by the widespread economic malady of the day (inflation), as well as its hardly-more-attractive remedy (interest rate hikes). While the Bank of Canada’s efforts to curb runaway price increases since...
Lee QuaileBroker of Record The Provincial Government has moved recently to introduce new legislation aimed at alleviating housing shortages in Ontario and stabilizing the cost of entry to our housing market. Bill 109, or the “More Homes for Everyone Act, 2022”, aims to ease financial pressures on homebuyers by acting to restrict the activities of real estate speculators, curbing...
Prices look set to remain at or above historic heights. Lee QuaileBroker of Record It’s a historic benchmark – today, for the first time ever, the average sale price of a detached home in Kitchener-Waterloo is more than one million dollars. The sheer pace of the price increase that our real estate market has seen since the summer of 2020 has been nothing short of breathtaking for both...
Our Fourth Annual ‘Winter Warmth’ Charitable Drive Earlier this December, the staff and agents at Chestnut Park West saw the culmination of well over a month’s worth of hard work and planning when we hosted our fourth consecutive Winter Warmth campaign, here at Waterloo Town Square. Hundreds of our clients and friends (and their families) turned out to collect our gift of either a Christmas tree...
FEDERAL HOUSING POLICY PRIMER Lee QuaileBroker of Record With less than three weeks now left to pass until election day, campaign rhetoric and promises are tumbling out of the various political war rooms at an increasingly frenzied rate. It can be tough for the average voter to keep up with where each party stands on everything from environmental issues to foreign policy, to taxation… and...
What does this campaign promise mean in practice? Lee Quaile & Erik ErwinBroker of Record & Sales Representative,Chestnut Park West With the announcement of this year’s impending Federal Election on September 20th, Canada’s six major political parties have all scrambled into campaign mode. And aside from perennial top-of-the-ticket issues such as health care, unemployment, foreign...
Southern Ontario Homebuilders Face Increasing Obstacles Lee Quaile Broker of Record If there’s one overarching theme to this past year’s real estate market in Southern Ontario, it’s been the inadequacy of supply in keeping pace with surging demand from homebuyers. This most fundamental of economic laws has served as an engine to drive prices ever higher in our region since early last...
Rules for Homebuyers Lee QuaileBroker of Record Admitting failure and backtracking is difficult enough for most people, but when’s the last time you heard of a government-affiliated agency tapping out and issuing a public statement outlining their mistakes? It’s a rare occurrence! But that’s exactly what happened earlier this week when Canada’s federal housing agency (CMHC) came...