The frantic bidding wars and multiple offer scenario's which characterized the first 4 months of 2017 are largely over, at least in Oakville and surrounding areas. Noticeably fewer foreign buyers exist as a result of the Provincial government's 15% foreign buyer’s tax, implementation of previously announced changes to mortgage lending rules and mortgage insurance guidelines as well as the near ‘death throws’ of Home Capital one of the country’s largest and most prominent B lenders. The city of Montreal is now the new darling of foreign investors.
Locally, the number of new listings is way up, giving buyers much more selection then in recent memory as well as time to think about the purchase. Selection is good and prices negotiable.
Prices have not gone down as yet and June transactions are establishing a base for the third and fourth quarters of the year. We will likely see downward pressure on home prices in the coming months if supply builds and interest rates rise.
If you've been waiting to step in to the market now is the best time to buy in the last 12 months.
Commercial Development opportunity in Kerr Village
110 Deane Avenue
Mixed Use/Commercial zoning which permits a wide variety of potential uses. The property has been rezoned by Town of Oakville to be an addition to the existing Kerr Street commercial/retail district. Current zoning permits building 2-4 storeys with minimal setbacks.
Short or long term investment opportunity in 'VILLAGE ON THE LAKE' in Burlington, situated across from the proposed Burloak Regional Waterfront Park. The property is currently tenanted with a lease expiring in February 2018. Well-managed complex suitable for empty-nesters and families alike.
Well maintained executive home, 4 bedroom plus den, 3.5 baths, approximately 3250+ s.f. Features large principle main floor rooms, main floor den, family room with wood burning fireplace, huge family size kitchen with wall pantry. Walking distance to high ranking Abbey Park H.S. and sought after Pilgrim Wood P.S.