Sherry Rioux, Broker

Office: 705-445-7085
Direct: 705-443-2793
Toll:    877-445-7085
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Did You Know?
Winter is a great time to have renovations done.
Alair Homes Collingwood is known for quality transformative renovations along with Custom Home Building.  They gladly take on the challenges of a renovation to re-think and re-create your home to fit your needs. They will complete your project smoothly and efficiently, with the same exclusive online software as a full custom home build.  They can help you find your dream home in the one you already have! Give Laurie or Kevin Blair a call to get your winter renovation underway!
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Halloween isn't the only scary part of October...the housing market is sending shivers down buyer's spines as supply remains low and prices increase. Multiple offers are a daily occurrence in our area now. Home sales for Sept 2016 are up 3.9% over the same period in 2015. This was another record setting month. 
In the Western Region of the Southern Georgian Bay (which is the Collingwood/Wasaga/Blue Mountains/Meaford area), we are up 17.3% for the year to date over last year.
Typically, the market tends to slow down as we head toward the end of the year, but the Rioux Baker Real Estate Team at Clairwood Real Estate has not noticed this yet. Supply of properties remains at the lowest levels in more than a decade and the value of all residential transactions in September hit $119 million, the highest September on record!
And things may get scarier yet as the Federal Government announced mortgage rule changes that take affect October 17, 2016! Check out details below on that ghastly news!

Federal Government Announces Mortgage Rule Changes
The Federal government announced mortgage rule changes that take effect Oct. 17, 2016. Apparently, this was the first time that changes were made with virtually no consultation with the mortgage and banking industries.
Clients looking to buy a home with less than 20% down payment --- the new rules include a more stringent 'stress-test' to be used when determining how much of a mortgage a person qualifies for. Until now, unless you were selecting a variable rate mortgage, or a mortgage with a term of less than 5 years, you qualified for a mortgage based on your 'contracted' rate. Most 5 year fixed mortgage rates of the last few months have come in at under 2.50%, therefore you were qualified for your mortgage based on that rate. With the new rules, you have to show that you qualify for your mortgage amount based on the 'Mortgage Qualifying Rate' (MQR). Today the MQR is 4.64%. This change will reduce your mortgage limits by between 20 and 22%.
Therefore a client that was previously pre-approved for a loan of $520,000 can now only qualify for about $410,000.

There are many others who will be affected by these new rules. I suggest that you speak to your mortgage broker to see if this will affect your buyer power in this "crazy" real estate market.

Thanks to Rob Wedgbury, of The Mortgage Centre o/a Rochbury Corporation Inc. for this information.

How SMART Is Your Home?
 The term "Smart Home" gets thrown around today on a regular basis, yet many do not really understand the true definition of a Smart Home.
According to an international real estate franchise who created the term, " A home that is equipped with network-connected products (aka 'smart products,' connected via Wi-Fi, Bluetooth or similar protocols) for controlling, automating and optimizing functions such as temperature, lighting, security, safety or entertainment, either remotely by a phone, tablet, computer or a separate system within the home itself" , can now be identified as a SMART HOME.
According to this recent article in REM Online, "In order to be categorized as a smart home, the property must have a smart security feature that either controls access or monitors the property or a smart temperature feature, in addition to a reliable Internet connection. It must also include at least two additional features from this list:
  • Lighting (smart light bulbs and lighting systems)
  • Safety (smart fire / carbon monoxide detectors and nightlights)
  • Entertainment (smart TVs and TV streaming services)
  • Appliances (smart refrigerators and smart washer / dryers)
  • Heating / Cooling (smart HVAC system, smart fans or vents)
  • Outdoors (smart plant sensors and watering systems)
  • Security (smart locks, smart alarm systems or cameras)
  • Temperature (smart thermostats)"

If your home qualifies, this is another great feature that should be included when marketing your home for sale.


What's Hot In Listings
Fabulous Chalet Minutes to Ski Hill
Renovated 3 level chalet with over $100K in improvements completed in 2016. Low maintenance yard, forced air gas heating & central air. 5 bedrooms, 3.5 bath w/over 2100 sq. ft. of living space. Move in for ski season!
Offered at $689,900
Lighthouse Point and Admirals Gate
Waterfront suites in 2 of the most highly desirable developments in Collingwood. Both will be accepting offers on Thurs., Oct. 20 so don't delay in booking your showing today.
Lighthouse Point - 3 bdrm. ground floor, 1750 sq ft $550,000
Admirals Gate - 3 bdrm. upper level
1922 sq. ft. w/garage & extra parking $749,900
If you are considering buying or selling in the Georgian Triangle, I would like my team to be your REALTOR of choice. Be sure to  Check OUR Website regularly to see the latest in new listings!

Sherry Rioux, Broker
The Rioux Baker Real Estate Team
Clairwood Real Estate Corporation, Brokerage