JUST LISTED on Presquile Drive




Market Stats Jan-Feb 2017 Joshua Creek

Market Action in Joshua Creek Jan-Feb 2017

Average Selling Price increased by 31% from Feb 2016

Median Selling Price increased by 38% from Feb 2016

Here are the Stats for prices in Feb and Jan 2017:

Detach Homes Sold in JC in FEB 2017

Average Median Low High
List Price $1,512,532 $1,490,590 $978,000 $2,475,000
SOLD Price $1,669,163 $1,685,000 $1,226,000 $2,605,000
% Difference 112% 110% 95% 129%
Bedrooms 4 4 3 5
Washrooms 4 4 3 5

Detach Homes Sold in JC in JAN 2017

  Average Median Low High
List Price $1,475,991 $1,499,000 $699,500 $2,390,000
SOLD Price $1,524,150 $1,602,500 $781,000 $2,320,000
% Difference 104% 103% 97% 116%
Bedrooms 4 4 2 4
Washrooms 4 4 3 5

Market is Hot right now.

Call me for a Free Market Evaluation of your home. (905) 270-2000

Stats derived from MLS sales reported on TREB

Oakville Median Price UP 28.54%

Oakville, ON, February 2, 2017 – According to figures released February 2 by The Oakville, Milton and District Real Estate Board (OMDREB), the number of all property sales increased by 3.36 per cent in January compared to the same period in 2016. Monthly property sales totaled 431 compared to 417 in January 2016.

The number of new property listings saw a decrease of 5.14 per cent, from 370 in January 2016 to 351 in 2016.

“We saw a positive start to the New Year, in terms of monthly property sales,” said Dennis Horton, 2017 President of OMDREB. “We’re excited to see how the real estate market will do in 2017.”

The dollar volume of all property sales processed through the OMDREB MLS® system saw an increase of 12.89 per cent in January 2017 to $260,196,853 from $230,486,636 in January 2016.

Oakville’s median residential sale price for the month of January was $988,500, an increase of 28.54 per cent from $769,000 compared to January 2016. The median sale price in Milton was $665,100, an increase of 20.94 per cent from $549,950 compared to the same time last year.

(Courtesy: Oakville Milton District Real Estate Board)

Joshua Creek Market Update – 6 Jan 2017



It is not quite Spring yet, but I thought I’d get you ready for something to look forward to. Along with Spring comes a red hot real estate market, which by the way usually starts around the 21st of January. 

Listing inventory is a bit thin in Joshua Creek at the moment. At present writing on 5 Jan there are 8 homes listed and can be viewed by clicking on “Listings in JC“. Have a look at the Table below for market stats for single detach homes in Joshua Creek. The average selling price of a single detach home increased from $1.300M to $1.472M from 2015 to 2016. That is a whopping increase of 13.1%. Homes over $1M experienced a larger appreciation of $17% in average price. The lowest sold price was $810,00 and the highest $2.67M in 2016. Price appreciation in Joshua Creek is way over the average selling price of a detach home in Oakville. This creates a high demand environment from buyers wanting to move into Joshua Creek. 

Some of you may be waiting for the weather to break to make a move. The current environment of low interest rates is ripe for home prices to move higher but by how much? The price of your particular home depends on many factors like location, square footage, upgrades, condition, and seller motivation. If you’re planning a move this year, let’s get together and put a plan in place to make a successful move.

Market Stats for Joshua Creek, Oakville (6 Jan 2017)


– Andy

Should you stress about the mortgage stress test?

Should you stress about the stress test?

What you should know about new mortgage rules.

In October, our Finance Minister announced that new mortgage rules will include more stringent “stress testing” for borrowers. The new rules are designed to lower debt levels, enforce some belt-tightening, and protect the housing market over the long term. Here’s how these new rules will affect us:


There has been a long-time rule that you must have “high-ratio mortgage insurance” if you have less than 20% down payment. This insurance is there to protect the lender, and the premium is almost always added to your mortgage amount.

What’s changed? If you require an insured mortgage, you must qualify for your mortgage using the Bank of Canada qualifying rate (currently 4.64%) regardless of what your actual mortgage rate will be.

That means that – although you may find a much better mortgage rate – you’d still need to show you can handle the mortgage using the qualifying rate. This financial “stress test” was already applicable for fixed and variable mortgages with terms of 1 to 4 years. Now, it also applies to fixed-rate mortgages of 5 years or longer.

Why the new rule?

The government wants to be sure that borrowers can withstand any increases in mortgage rates when their mortgages come up for renewal.

Will my payments be higher?

No. Your payments will still be based on your much lower actual mortgage contract rate. Keep in mind that mortgage rates are expected to stay at record lows into 2020. So this new rule isn’t costing you more. The potential change will be in how much mortgage you will qualify for: up to 20% less. You may need to plan on purchasing a less expensive home, or save up a larger down payment, or ensure you eliminate all or most of your other debts.

Please consult a qualified Mortgage Specialist at your Bank or a Mortgage Broker to see how to qualify for your real estate purchase.

Andy Sagu

Should we ban foreign investors from buying our real estate?


The topic sounds like a statement only a moronic Presidential candidate would make 🙂 However, should we?

A family with a combined income of $90,000 would qualify for a $500,000 house. Today this kind of money buys either a decent condo or a condo townhome in a suburban sub-division. The math that most baby boomers were used to was that your house should cost 3 times your annual salary. So where has such affordability gone? Most people when asked this question point to foreign investors, particularly Rich Chinese Investors as the root cause of rising prices.

There are protests and lobbies in Vancouver to curb this inflow. Some economists claim that upwards of $9B per year flows into the Toronto real estate market from Rich Chinese Investors. That is $750M per month or $24.7M per day or $1M per hour. There is no real way to verify this data and I remember Stephen Harper during his campaign had pledged half a million dollars to implement a system for tracking this. Builders of new condos say that it is around 5% but I think they downplay the numbers.

There are reports of Investors using real estate in Canada as a vehicle for laundering their cash. According to one source, Chinese are allowed to move money to Hong Kong and from there one is allowed to invest $50,000 overseas. Anything in excess of the $50,000 would be considered smuggling. Mortgage rules for a foreign non-resident investor buying in Canada are pretty straightforward. You need 35% down and show a bank balance in your account to cover 6 months of principal and interest. If $50,000 is 35% it means that the asset value cannot exceed $143,000. That will buy two and half parking spots at a downtown condo building. Legal or illegal, the money is flowing in and it’s not going to stop.

It’s a pretty sweet deal for Canadian lenders to control a rising asset with a 65% loan to value, so don’t expect the Government to do anything about it. Prime Minister J.T. has said that any attempt to impose tough rules to curb such influx of capital will have an adverse effect on equity of homeowners. I don’t think so. In Britain a special capital gains tax was implemented for foreign investors and did nothing to control rising real estate prices. Australia has implemented stricter buying rules to combat rising prices, often attributed to Chinese investors driving up the market. Prices jumped up 10% from last year.

Count your blessings that we live in Canada since the World is beating down our door.

Our current demographic dictates that prices will continue their upward trajectory.

We have to treat foreign investors as one part of the supply demand effect.

If you’re an owner that bought 20 years ago you’re a millionaire, as a result of the same effect.

If you’re not in real estate by now, get on the bus – fast.

Andy Sagu

“Your home Guaranteed Sold… or I will buy it” – OMG REALLY?

Every morning on this Toronto talk radio station I hear this ad from a realtor – “Your home sold guaranteed… or he will buy it”. I’m sure you’ve seen ads on billboards with the same claim. What are these people trying to do? Give you a level of comfort to go ahead buy first or is it that they care about your financial well being ? The impression it creates is a that if your home does not sell as priced then the agent will buy it at market value. Absolutely, not true.

These guarantees always come with an asterisk – “Some conditions apply”. The conditions vary by the programs offered and here’s a sample of how to qualify:

1. The seller must buy one of the agent’s own listings

2. Seller must agree to paying for an appraisal and home inspection

3. The guarantee comes with a guarantee fee of 10% off the appraised value (or whatever it is).

4. Full commission is applicable in addition to the wholesale price.

5. Closing not less than 90 days, Not all properties qualify, etc.

Of course these agents don’t see anything wrong or illegal with the practice. After all, this is akin to trading in a used vehicle at the dealer’s wholesale price in exchange for a new one. Is this what you have in mind when selling your home?

I doubt that most people fall for this. Agents are not in the business of buying your home but the sexy headline and sound bite did generate that call to the agent. Whenever I hear this ad on the radio or see a billboard I’m quite frankly, disgusted by such deceptive claims.

Words that need an asterisk do not deserve your call.

If I meet one of these guys the only “guarantee” I have is to take a long shower.

Andy Sagu