Gravel driveways are a common feature in many properties across Grey Bruce, offering rural charm and practicality for homeowners. However, maintaining these driveways is essential to ensure they remain functional and visually appealing. With proper care, you can prevent issues like potholes, uneven surfaces, and weed growth. Here are some effective tips for maintaining your gravel driveway:
Routine raking is crucial for keeping your gravel driveway neat and even. Use a sturdy rake to spread the gravel evenly and fill in any low spots or ruts. This practice helps maintain a smooth surface, preventing puddles and uneven areas that can lead to further deterioration.
Over time, gravel can shift or become displaced due to weather conditions and vehicle movement. To refresh your driveway, consider topping it up with fresh gravel every couple of years. This not only enhances its appearance but also ensures a consistent surface. When adding new gravel, make sure to spread it evenly to avoid creating bumps or dips.
Weeds can quickly invade gravel driveways, detracting from their visual appeal. Regularly inspect your driveway for any emerging weeds and remove them promptly. Installing a weed control fabric beneath the gravel during the initial setup can significantly reduce weed growth in the long run.
Maintaining clean edges along your driveway is vital for a polished look. Use a spade or edging tool to redefine the borders, preventing gravel from spreading into surrounding areas like lawns or flower beds. This not only enhances the driveway’s appearance but also helps keep it organized.
Good drainage is essential to avoid water pooling on your driveway, which can lead to erosion and surface damage. Ensure that your driveway has a slight slope to facilitate drainage, or consider installing a drainage system to redirect water away from the surface. Addressing drainage issues promptly can save you from costly repairs in the future.
Periodically cleaning your gravel driveway can help maintain its appearance. Use a gentle cleaning detergent for stubborn stains and rinse with a hose or pressure washer at low pressure to avoid scattering the gravel. Regular cleaning not only keeps the driveway looking fresh but also helps prevent the buildup of dirt and debris.
As seasons change, so do the maintenance needs of your gravel driveway. Before winter, prepare your driveway by pulling gravel that has been pushed off the edges back toward the centre. In spring, assess any damage caused by winter weather and make necessary repairs, including adding a top dressing of gravel if needed.
By following these tips, you can ensure that your gravel driveway remains functional and attractive for years to come. Regular maintenance not only enhances curb appeal but also contributes to the overall value of your property.
Looking to buy, sell, or invest? As your REALTOR®, I’ll guide you every step of the way. Contact me today and let’s turn your real estate dreams into reality!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
MLS® home sales continue to surge for second straight month in October 2024.
The number of homes sold in Grey Bruce and Owen Sound via the MLS® System of the OnePoint Association of REALTORS® totaled 238 units in October 2024. This was up sharply by 32.2% from October 2023.
Home sales were 7.1% below the five-year average and 13.3% below the 10-year average for the month of October.
On a year-to-date basis, home sales totaled 2,224 units over the first 10 months of the year. This was a minor increase of 3.5% from the same period in 2023.
“Sales activity kept up the increased momentum in October after surging in September, with sales now almost back on par with typical levels for this time of year,” said Bonnie Looby, President of the OnePoint Association of REALTORS®. “New listings are still coming on strong, with October posted almost the highest level for this month on record. With demand having recovered as much as it has in the past two months, inventory levels are now trending sideways, and the market is firmly back in balanced territory. We expect similar trends to play out over the remainder of the year and will be keeping a close eye on the Bank of Canada’s next rate announcement in December.”
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $571,000 in October 2024, essentially unchanged, down just 0.6% compared to October 2023.
The benchmark price for single-family homes was $579,600, a slight reduction of 0.6% on a year-over-year basis in October. By comparison, the benchmark price for townhouse/row units was $477,100, edging down 0.1% compared to a year earlier, while the benchmark apartment price was $376,300, a modest gain of 3.4% from year-ago levels.
The average price of homes sold in October 2024 was $642,622, a slight reduction of 0.9% from October 2023. The more comprehensive year-to-date average price was $644,703, increasing by 1.4% from the first 10 months of 2023. The dollar value of all home sales in October 2024 was $152.9 million, an advance of 31% from the same month in 2023.
The number of new listings was up by 10% from October 2023. There were 428 new residential listings in October 2024. This was the largest number of new listings added in the month of October in more than three decades.
New listings were 16.9% above the five-year average and 21.9% above the 10-year average for the month of October. Active residential listings numbered 1,374 units on the market at the end of October, an increase of 13.2% from the end of October 2023. Active listings haven’t been this high in the month of October in more than five years. Active listings were 49.5% above the five-year average and 29.3% above the 10-year average for the month of October.
Months of inventory numbered 5.8 at the end of October 2024, down from the 6.7 months recorded at the end of October 2023 and above the long-run average of 4.3 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
(1) Sales / new listings * 100; compared to levels from previous periods.
(2) Active listings at month end / monthly sales; compared to levels from previous periods.
(3) Sale price / list price * 100; average for all homes sold in the current month.
OnePoint Association of REALTORS® serves as a unified body representing almost 3,000 real estate professionals across the regions of Huron, Perth, Grey, Bruce, Wellington, Georgian Bay, Simcoe, Parry Sound, Haliburton and Muskoka.
Related: September 2024 Real Estate Market Update
Wondering how these numbers might impact your real estate plans? Whether you’re buying, selling, or just curious about market trends, I’ve got you covered! Let’s navigate the market together! Contact me for a complimentary, no-obligation property valuation!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
Now that daylight saving time has ended, evening viewings will take on a new significance in the real estate market. With earlier sunsets, it’s essential for both sellers and buyers to adapt their strategies for maximizing these important showings. Here are some top tips to ensure evening viewings are effective and appealing.
Evening viewings cater to buyers who may have busy daytime schedules, allowing them to explore properties at their convenience. As daylight fades, the right ambiance can create a lasting impression, making it crucial for sellers to optimize this time.
Schedule Strategically
Create an Inviting Atmosphere
Enhance Curb Appeal
Prepare for Showings
Plan Ahead
Take Notes During Showings
Ask Questions
As we transition into shorter days with the end of daylight saving time, maximizing evening viewings becomes even more critical in the real estate market. Sellers should focus on creating an inviting atmosphere while being flexible with scheduling, and buyers should prepare effectively and engage actively during showings. By following these tips, both parties can enhance their experience in the real estate market, leading to successful transactions and satisfied clients.
Looking to buy, sell, or invest? As your REALTOR®, I’ll guide you every step of the way. Contact me today and let’s turn your real estate dreams into reality!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
Purchasing a newly constructed home can be an exciting experience, offering modern amenities and the opportunity to be the first owner. However, it’s essential to navigate this process carefully to ensure you make the best decision. Here are some key dos and don’ts to keep in mind when buying new construction.
Even though you’re dealing directly with a builder, having a real estate agent by your side is crucial. An experienced REALTOR® can help you navigate the process, negotiate on your behalf, and protect your interests throughout the transaction.
Before committing to a new construction home, thoroughly research the builder’s reputation and track record. Look for online reviews, visit their completed projects, and speak with current homeowners in their developments to gauge satisfaction levels.
Don’t assume that a brand-new home is free of defects. Hire a professional inspector to examine the property during various stages of construction and before closing. This can help identify any issues early on and ensure they’re addressed by the builder.
Carefully review all contracts and warranties. Pay attention to what’s included in the base price and what’s considered an upgrade. Understanding these details can help you avoid unexpected costs and restrictions.
When selecting upgrades and customizations, focus on structural improvements and features that will add long-term value to your home. Some people may want to consider the resale potential and how their choices might appeal to future buyers.
Assume everything is negotiable
While there may be room for negotiation on certain aspects, don’t expect the builder to slash prices dramatically. Instead, focus on negotiating upgrades, closing costs, or other incentives that can add value to your purchase.
New construction often takes place in developing areas. Consider the location carefully, including future plans for the neighbourhood, potential commute times, and nearby amenities. Remember that young trees and empty lots will take time to mature and develop.
Carefully examine the builder’s warranty and understand what it covers and for how long. Be aware of any limitations and procedures for filing claims. Consider purchasing additional warranty coverage if necessary.
Remember that many new construction homes don’t come with everything you might expect. Budget for items like landscaping, window treatments, and additional storage solutions that may not be included in the base price.
Even with new construction, it’s important to include contingencies in your contract for factors such as financing, appraisal, and inspection. These protect you in case unexpected issues arise during the process.
By following these dos and don’ts, you’ll be better prepared to navigate the exciting journey of buying a new construction home. Remember, while the allure of a brand-new house is strong, it’s crucial to approach the process with diligence and care to ensure you’re making a sound investment in your future.
Looking to buy, sell, or invest? As your REALTOR®, I’ll guide you every step of the way. Contact me today and let’s turn your real estate dreams into reality!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
The Bank of Canada (BoC) has once again made headlines with its latest monetary policy decision, cutting its key interest rate by a substantial 50 basis points to 3.75%. This move, announced on October 23, 2024, marks the fourth consecutive rate cut this year and signals a significant shift in the central bank’s approach to managing the economy and inflation.
The BoC’s decision comes as inflation has cooled considerably, dropping from 2.7% in June to 1.6% in September. This decline, coupled with a softening labor market and modest economic growth, has given the central bank room to maneuver. The bank’s governor stated that with inflationary pressures no longer broad-based, this rate cut aims to support economic growth while keeping inflation close to the 2% target.
For the real estate sector, this rate cut could be a game-changer. Here’s how:
The Bank of Canada’s latest projections paint a picture of gradual economic strengthening:
The next rate announcement is scheduled for December 11, 2024, and market watchers will be keenly awaiting any signals of future policy direction.
For homeowners and potential buyers, this rate cut presents both opportunities and considerations:
The Bank of Canada’s latest rate cut represents a significant shift in monetary policy, with potentially far-reaching implications for the real estate market and the broader economy. While lower rates can stimulate economic activity and improve affordability, they also come with potential risks, such as increased household debt levels.
As we navigate this changing economic landscape, it’s crucial for individuals to stay informed and consider how these changes might affect their personal financial situations. Whether you’re a homeowner, a prospective buyer, or an investor, now is an excellent time to review your real estate strategy and consult with financial professionals to make the most of the opportunities presented by this new low-rate environment.
Stay tuned for further updates as we approach the next rate announcement in December, and remember that in the world of real estate and finance, being proactive and well-informed is key to success.
Read the Press Release.
Looking to buy, sell, or invest? As your REALTOR®, I’ll guide you every step of the way. Contact me today and let’s turn your real estate dreams into reality!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
Hiring a contractor can be a daunting task, especially for homeowners looking to undertake significant renovations or repairs. The right contractor can make all the difference in ensuring your project runs smoothly and meets your expectations. Here are some essential tips to guide you through the process of hiring a contractor effectively.
Before you start searching for contractors, it’s crucial to have a clear understanding of your project. Define the scope of work, budget, and timeline. This will not only help you communicate your needs more effectively but will also assist contractors in providing accurate estimates.
Take the time to research potential contractors thoroughly. Look for:
For those in the Grey Bruce area, check out www.greybrucetrades.ca for profiles on local tradespeople. Browse through their list of Grey and Bruce area businesses to find someone that is right for your job.
Obtain at least three quotes from different contractors. This will give you a better understanding of the market rates and help you identify any outliers. When comparing quotes, ensure that they include similar scopes of work for an accurate comparison.
When interviewing potential contractors, ask questions that will help you assess their suitability:
Once you’ve selected a contractor, ensure that all details are documented in a written contract. The contract should outline:
Review the contract carefully before signing, and don’t hesitate to ask for clarification on any terms you don’t understand.
Effective communication is key to a successful project. Establish regular check-ins with your contractor to discuss progress, address concerns, and make any necessary adjustments. This will help ensure that everyone is on the same page throughout the project.
Create a comprehensive portfolio for each major home improvement project, including:
This organized documentation not only helps you keep track of improvements but also can serve as a valuable selling tool to showcase the care and investment put into your home.
Finally, trust your instincts when choosing a contractor. If something feels off during your interactions—whether it’s their responsiveness or professionalism—consider it a red flag. A good contractor should make you feel comfortable and confident in their abilities.
By following these tips, you’ll be better equipped to hire a contractor who meets your needs and helps bring your vision to life. Remember, investing time in finding the right professional can save you both time and money in the long run.
Looking to buy, sell, or invest? As your REALTOR®, I’ll guide you every step of the way. Contact me today and let’s turn your real estate dreams into reality!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
Choosing the right home involves more than just finding the perfect location; understanding the layout is equally important. Floor plans provide a crucial insight into how a home is structured, influencing everything from daily living to entertaining guests. By familiarizing yourself with the various types of residential floor plans, you can better assess which layout aligns with your lifestyle and preferences.
In this post, we’ll explore some of the most common residential floor plan types, helping you make informed decisions as you embark on your home-buying journey.
Open floor plans have become increasingly popular in modern home design. These layouts typically combine the kitchen, dining, and living areas into a single, expansive space. This design promotes a sense of community and is ideal for entertaining, allowing for easy interaction among family members and guests. The lack of walls can also make a home feel larger and more inviting.
Traditional floor plans feature distinct, separate rooms for specific functions, such as a separate dining room, living room, and kitchen. This layout is often favoured by those who appreciate privacy and defined spaces. Traditional homes may also include features like formal entryways and hallways, providing a classic aesthetic that appeals to many buyers.
Split-level homes are designed with staggered floor levels, which can create unique living spaces. This layout often features a few steps between different areas of the home, such as between the living room and bedrooms. Split-level designs can maximize space on smaller lots and offer a degree of separation between different areas, making them suitable for families.
As multigenerational living becomes more common, homes designed to accommodate multiple families are gaining popularity. These floor plans often include separate entrances, living areas, and sometimes kitchens, allowing for privacy while still being part of a larger household. This layout is particularly appealing for families looking to live together while maintaining their independence.
Two-story homes typically feature a clear separation of living spaces, with common areas on the main floor and bedrooms on the upper level. This design is ideal for families, as it allows for a quiet space for children to sleep while adults can entertain or relax downstairs. Two-story homes often include features like balconies or spacious staircases, adding to their charm.
Ranch-style homes are characterized by their single-story layout, often spreading out horizontally across a lot. This design is popular for its accessibility, making it easier for individuals of all ages to navigate the home. Ranch homes typically feature large yards and open spaces, appealing to buyers who enjoy outdoor living.
When considering a home, understanding the different types of floor plans can help you identify which layout best suits your lifestyle. Whether you prefer the openness of a contemporary design or the traditional feel of separate rooms, knowing your options will empower you to make informed decisions in your home-buying journey. Check out this article about how to read a floor plan.
As your real estate agent, I am here to provide personalized guidance, helping you evaluate which residential floor plan will work best for your family’s unique needs and preferences. Together, we can find a home that not only meets your requirements but also enhances your quality of life.
Looking to buy, sell, or invest? As your REALTOR®, I’ll guide you every step of the way. Contact me today and let’s turn your real estate dreams into reality!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
REALTORS® Association of Grey Bruce Owen Sound reports MLS® home sales surge in September.
The number of homes sold through the MLS® System of the REALTORS® Association of Grey Bruce Owen Sound totaled 257 units in September 2024. This was a jump of 42.8% from September 2023.
Home sales were 5% below the five-year average and 11.5% below the 10-year average for the month of September.
On a year-to-date basis, home sales totaled 1,987 units over the first nine months of the year. This increased by 1% from the same period in 2023.
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $573,800 in September 2024, falling by 1.8% compared to September 2023.
The benchmark price for single-family homes was $582,100, a modest decline of 2% on a year-over-year basis in September. By comparison, the benchmark price for townhouse/row units was $489,100, nearly unchanged, up only 0.3% compared to a year earlier, while the benchmark apartment price was $377,700, a minor increase of 3.9% from year-ago levels.
The average price of homes sold in September 2024 was $642,593, a modest decline of 1.5% from September 2023. The more comprehensive year-to-date average price was $645,441, up modestly by 1.7% from the first nine months of 2023. The dollar value of all home sales in September 2024 was $165.1 million, a substantial increase of 40.6% from the same month in 2023.
The number of new listings saw a moderate gain of 9.5% from September 2023. There were 543 new residential listings in September 2024. This was the largest number of new listings added in the month of September in more than three decades. New listings were 18.7% above the five-year average and 29% above the 10-year average for the month of September.
Active residential listings numbered 1,521 units on the market at the end of September, increasing by 17.4% from the end of September 2023. Active listings haven’t been this high in the month of September in more than five years. Active listings were 49.7% above the five-year average and 26.3% above the 10-year average for the month of September.
Months of inventory numbered 5.9 at the end of September 2024, down from the 7.2 months recorded at the end of September 2023 and above the long-run average of 4.4 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
(1) Sales / new listings * 100; compared to levels from previous periods.
(2) Active listings at month end / monthly sales; compared to levels from previous periods.
(3) Sale price / list price * 100; average for all homes sold in the current month.
The REALTORS® Association of Grey Bruce Owen Sound represents approximately 450 REALTORS® registered with its member offices. The geographical area served by the Association is in southwestern Ontario, bordered by Lake Huron and Georgian Bay including Bruce and Grey Counties, and part of Wellington County.
Related: August 2024 Real Estate Market Update
Wondering how these numbers might impact your real estate plans? Whether you’re buying, selling, or just curious about market trends, I’ve got you covered! Let’s navigate the market together! Contact me for a complimentary, no-obligation property valuation!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
Preparing your home for showings is essential for making a great first impression on potential buyers. Here’s a tailored guide on what to put away during showings to ensure your home looks its best:
By following these steps, you can create a welcoming environment that highlights your home’s best features, making it more appealing to potential buyers. A well-prepared home not only enhances its attractiveness but also increases the likelihood of a successful sale. Check out this article from Apartment Therapy with lots of tips about decluttering.
Looking to buy, sell, or invest? As your REALTOR®, I’ll guide you every step of the way. Contact me today and let’s turn your real estate dreams into reality!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
October is Fire Prevention Month, a time to reflect on the importance of fire safety and to take proactive measures to protect our homes and loved ones. It’s essential to regularly review key fire prevention strategies that can significantly reduce the risk of devastating fires in your home. Here are some critical reminders to keep your living space safe.
The most effective way to safeguard your home is by installing working smoke alarms. Here’s how to ensure they function correctly:
Statistics show that nearly three out of five fire deaths occur in homes without working smoke alarms, highlighting their critical role in fire safety .
Cooking is a leading cause of home fires, so practicing safe cooking habits is vital:
In case of a small grease fire, remember to smother it with a lid or use a fire extinguisher if safe to do so. If the fire escalates, evacuate immediately and call emergency services .
As temperatures drop, heating systems become essential but can also pose fire risks:
Regular maintenance can help ensure that your heating systems operate safely throughout the colder months .
Electrical issues are another common cause of house fires. To minimize risks:
Candles can create a cozy atmosphere but also pose significant fire hazards:
To keep your home safe from fires, consider this maintenance checklist:
By staying vigilant and proactive about fire safety, you can protect your home and loved ones from potential tragedies. Fire Prevention Month serves as a crucial reminder to take these steps seriously—not just in October but throughout the entire year. Find more resources on public safety from the Ontario Association of Fire Chiefs.
Looking to buy, sell, or invest? As your REALTOR®, I’ll guide you every step of the way. Contact me today and let’s turn your real estate dreams into reality!
For more information, contact:
Susan Moffat, REALTOR® with Century 21 In-Studio Realty Inc., Brokerage
519.377.5154
susan.moffat@c21.ca
INFO & SERVICES
CENTURY 21 In-Studio Realty Inc. Brokerage
9 Main St E, Markdale, ON N0C1H0
(519) 375-7653
INFO & SERVICES
Independently Owned and Operated. ®/™ trademarks owned by Century 21 Real Estate LLC used under license or authorized sub-license. © 2020 Century 21 Canada Limited Partnership © 2020 Century 21 Canada Limited Partnership
The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system. The trademarks REALTOR ® , REALTORS ® and the REALTOR ® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license. This listing content provided by REALTOR.ca has been licensed by REALTOR® members of The Canadian Real Estate Association. Not intended to solicit properties currently listed for sale or buyers under contract.
Century 21 Canada Limited Partnership currently has franchise opportunities available in select markets across Canada. The intent of this communication is for informational purposes only and is not intended to be a solicitation to anyone under contract with another real estate brokerage operation. This e-mail message contains confidential information intended only for the use of the individual or entity named above. Any unauthorized use or disclosure is strictly prohibited. If you have received this communication in error please immediately delete the e-mail and either notify the sender at the above e-mail address or by telephone.
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