The month of October can be a spooky month, maybe even a scary month with monstrous problems. Yikes!! Well maybe not, but words like that seem to be popping up everywhere as kids and adults alike look forward to Halloween.
In fact, according to the USA Today recently, Adults spend more on themselves to celebrate Halloween than any other day during the year. I get that. Especially if they want to hang out with the kids to go trick or treating, or to a Halloween party of some kind.
Speaking of our friends to the South, real estate has continued to be a hot topic and surely guiding some of the recovery efforts. Is this the best time to buy your vacation property or rental property?
Many homeowners and home buyers are truly scared. Scared to death of how in the world they are going to get out of their house and into their next one. MSNBC recently reported that home sales hit a 15 year low last month in the U.S. This is great news for some (a real treat) and terrible news for others (the trick).
Buyers can absolutely find a home and pay what homes were selling for in 2002. That should have every home buyer looking hard so as not miss out on a great real estate deal. For those wanting to sell, they are selling because they must and that means being extra careful to avoid the pitfalls of selling in today's market in order to get the most amount of money with the least hassle.
As a result of working with hundreds of families over a 10 year time span, we have developed a special program to help buyers locate the home that will bring immediate joy to their life while insuring they are getting the best home at the best price with the least hassle. And for home sellers, we insure their home sales at a price agreeable to them or we'll buy it.* Now that is a how you turn a trick into a real treat.
WE NEED YOUR HELP...
If you or anyone you know is considering making a move to a new home, we would like to offer them a FREE No Obligation to Move Consultation to discuss just how they can make their move, get what they want and do it with the least hassle.
As a special Treat for the month of October, we are offering home owners a Free Special Report called 6 Mistakes to Avoid When Moving Up to Your Next Home in Today's Market! This free report is provided to any buyer or seller we meet with during the Month of October to help make their next move a lot less scary!
Any one you know considering making a move, wanting to buy or sell their home, please refer them to me without hesitation or delay! They will receive the service guarantees I detailed above and you can rest assured your referrals will be rewarded.
If you missed the last couple months Market Watch letters, we are on a mission to donate $100,000.00 to Janeway Childrens Hospital Foundation! They do great work in helping kids struggle to recover from debilitating diseases. We will donate $250 of our income on every referral you send us to Janeway Childrens Hospital Foundation.
Over the last decade of helping thousands of families sell their home and/or buy another, we have met some wonderful, loving, caring people. People like you! So your referrals, those you know considering a move, that we help - you can rest assured that not only will they get the award winning service we are known for and the guarantee to back it up, but that a solid portion of the income we receive from the transaction will go toward a very worthy cause (Kids and families in Dire Need!)
It's easy to refer your friends, neighbours, associates or family members considering making a move. Simply go to www.yournewfoundlandhome.com. Of course you can always call me direct as well at 709-770-7355.
I hope you and your family are well and this month of tricks and treats is full of, well, treats.
With all our appreciation,
The Homelife Advantage Realty Team
709-770-7355
P.S. Remember we love honoring our past clients like you. Read all about that at www.yournewfoundlandhome.com
It's safe to say that virtually every person living in any St. John's home in the 80 years or more has visited
Bowring Park at one time or another. No trip to the city is complete without a walk through its scenic boundaries. Unlike any other place in Newfoundland and Labrador, Bowring Park showcases exactly why you’d want to keep checking the latest real estate listings in St. John's! Winter, spring, summer, fall — every season of the year the park continues to attract thousands of visitors along its footpaths. You’ll want to come back often and do it all!
Before the area came to be known as the Bowring Park we know now, it was obtained from the Newfoundland Government in 1847 by William Thorburn. He turned the 50 acres into a successful farmland. The Crown Grant Land was later leased to the Neville family who formally named the property Rae Island Farm. In 1911, an established shipping firm, The Bowring Brothers, bought the land and commemorated their 100th business anniversary by offering St. John’s a recreational park as a token of appreciation to the local community, and construction began the following year. The park was officially declared open on July 15, 1914 by His Royal Highness the Duke of Connaught.
The Bowring Brothers commissioned landscape architect Frederick Todd of Montreal to head up the project, but it is said that the design and layout of the park was truly brought forth by fellow landscape architect, Rudolf H. Cochius. Cochius lived and worked in the park for several years before and after the opening. The land was chosen for its rich natural beauty, the perimeter beset by two rivers, the Waterford River and the Southbrook River. While the park was opened in 1914, it continued construction up until 1921 when it was formally given over to the city, and has continued to be under the care of the municipal government ever since. Development continued in the following decades to include some of the many fantastic features we get to enjoy today.
Bowring Park is home to a number of unique trees, shrubs and flowering plants. The original greenhouse, built in 1947 was turned into a Conservatory that hosts a number of traveling botanical exhibits and a popular butterfly exhibit. Walking trails, bike paths and bridges were built along the two rivers which converge at the Duck Pond, a picturesque place to enjoy feeding the ducks, swans and pigeons that inhabit the area.
There are a number of areas for leisure and sport activities. Crossing the vehicular bridge, families can take a refreshing dip at the park’s swimming pool, and young people come to enjoy the nearby skate park as well as the playground. Tennis courts, lawn bowling, and large open spaces such as the Bob Whelan Field provide ample opportunity for frisbee or football. In winter the sloping field is the perfect location for sledding.
Past the outdoor pool is the fountain pond, a wonderful site surrounded by a trail for walking and benches for relaxing. It was recently reconstructed through the efforts of The
Bowring Park Foundation,
Husky Energy, and the
City of St. John's. The pond is turned into a lovely skating area in the wintertime. South of this pond is Cabot Theatre, an amphitheatre constructed to commemorate Cabot’s 500th anniversary of his discovery of Newfoundland.
There are a number of statues and monuments around the park. The Fighting Newfoundlander honours the Newfoundland Regiment who fought bravely in World War I. The Caribou is a further tribute to these brave soldiers and is a replica of the original located at Beaumont Hamel, France. The Peter Pan statue located by the Duck Pond is in memory of Sir Edgar Bowring’s granddaughter, Betty Munn, who tragically died at the age of four, along with 94 other passengers, when the SS Florizel capsized during a violent storm. The statue serves as a fitting celebration of childhood.
There are still many more beautiful areas to explore while visiting Bowring Park. It truly is a gem in the middle of busy St. John's, so be sure to stop in with a handful of birdseed to feed a duck or two, or with a picnic lunch in tow. You’ll be sure to want to stay awhile.
Photo credit: http://golfandgear.ca/.
Need a St. John's shopping fix? Want to find everything you need in one easy location, but find the idea of spending a day at the mall overwhelming? Enjoy getting lost amongst aisles and aisles of the latest fashions and newest products? Big box shopping centers might be the answer for you! Such stores have become very popular for their wide range of goods and services and most often allow for a larger selection than can be found within the stores in a traditional mall. In Newfoundland and Labrador, the boxes don't come any bigger or more inviting than they do at Stavanger Drive. With just one visit, you'll quickly see one more reason real estate in St. John’s East is in high demand!
Located in the east end, Stavanger Drive is home to a large selection of big box stores, catering to a variety of needs and markets. From finding the finishing pieces for your home, to trying on the perfect pair of shoes, to picking out your very first pet, Stavanger Drive has you covered. If you are looking for general merchandise, you’re certainly no stranger to Wal-mart or Zellers as your go-to stores. Cost-co offers a wide array of products, mostly in bulk and offers free samples to try usually around meal times. Membership is required but that won’t stop you from being able to try out their delicious poutine or a smoked meat sandwich. Kent, Canadian Tire, Rona all offer home building supplies for the builders of the family in search of a new project. A walk through any one of those places might even give you the inspiration you need to finish off your summer deck, or plant a blossoming garden.
For the perfect touch to any home decor or kitchen, you’re sure to find more than a few treasures at Bombay, Bowering, Pier 1 or Paderno. Electronics expertise is supplied by Future Shop, The Source and the recent addition, Best Buy. Henry’s is a little photography specialty store in the area also worth checking out. You’ll discover crafter’s heaven within the aisles of Michael’s; creative types could gladly spend hours within just browsing, but one of their decorating classes might also spark your interest. Home office supplies, and dare I mention upcoming back to school deals can be found at Staples. There is no shortage of places to shop for clothing and accessories. You’re sure to find a great selection for any occasion amongst Old Navy, Reitmans, Winners, Smart Set, Claire’s, Mark’s Work Wearhouse, The Shoe Company, Addition Elle, or even, Thyme Maternity.
You’ll get a fine supply for all of your pet’s needs at Pets Unlimited, and while you’re there make a pit stop with the kids to pet the bunnies. Many restaurants are conveniently located in the area such as McDonald’s, Subway, Tim Horton’s, Swiss Chalet, Boston Pizza, and Pizza Delight. You’ll find Dominion grocery store as well if you are looking to pick up a few things to make a meal at home. Services, such as PC Medic and Aberdeen Dental round off your visit.
For years, shopping in St. John's was a challenge for anyone wanting the latest fashion or home styles. But not any more. Stavanger Drive contributes to a different shopping atmosphere in old St. John's, so check it out... it might have more in store than you bargained for!
Amazingly, we're already into another Christmas season! The bright lights are already appearing on some homes in St. John's and area, and more will no doubt be lit with each passing day. For most of us, this time of year means lots of shopping, decorating, baking, and celebrating. In the midst of all that activity though, some of you will also be in full real-estate mode, as you prepare to buy or sell a home! That can create some added stresses, but you can also blend it all together into a win-win situation.
Let's face it: homes can look and smell great at Christmas time. All the bright lights, nice decorating touches, greenery, and the delicious smell of fresh baking mixed with the fresh aroma of a freshly cut tree can bring your home to life. So give some extra thought to how you can improve the curb appeal of your home this season. You may find it can pay big dividends. At the very least, you'll find your home even cozier this Christmas.
There are lots of great ideas to be found on the Internet — albeit with many of them laden down with more Google Adwords than decorating ideas — so feel free to Google. But if you want to spend your hours decorating instead of clicking in and out of spammy ad sites before finding the ones with something real to offer, we have some quick links to get you started. Of course, no discussion of home decorating would be complete without Martha Stewart, so we'll start right there. We were especially impressed with Martha's Christmas Lights photo gallery. Not only do you get 15 very nice lighting ideas (including the glowing gift boxes shown in the photo), but you also get full instructions for creating them yourself. You'll also find other photo galleries, complete with instructions, for Christmas trees, Christmas Decorations You Can Make or Buy, and several more ideas for filling your home with the Christmas spirit.
Another trusted name for decorating ideas is Better Homes and Gardens, and their Website is lit up with plenty of ideas for Magical Outdoor Christmas Lights as well as 29 Creative Christmas Wreaths. I have to admit we didn't think it was possible to find new ideas for wreaths at this point, but we found several here. Well worth checking out!
A bit closer to home here in St. John's, Canadian House & Home has their Outdoor Holiday Decorations Photo Gallery. Several of these ideas are more decorative than Christmasy, so you may find they serve to brighten up your property long after most of the season's decorations have been packed away for another year. In this blog post we've been exploring ways to boost your real estate investment by improve your curb appeal. However, if the whole decorating thing is getting you excited, you'll find this Website also has photo galleries, decorating idea, recipes, and entertaining tips for almost every holiday of the year, so you might want to bookmark this site for ongoing reference.
If you prefer video rather than pictures and text when looking for Christmas decorating ideas, take a look at House to Home. It's a British Website with several videos exploring "hundreds of great ideas for Christmas from craft ideas to decorating inspiration." We didn't count to see if there were actually hundreds, but the videos are indeed pretty full of ideas, so we're comfortable in recommending it as a site worth checking out.
So there you go. We started this post by saying that these ideas would help you build your home's curb appeal, and many of them certainly should. However, these ideas will of course brighten any home, whether visions of real-estate agents dance in your head or not! So take a look through these links, and enjoy all that the season has to offer, whether you're buying, selling, or settling in for a long winter's nap.
A favorite topic everywhere from Tim Horton's lineups to open line radio shows is the condition of roads in and around St. John's. The harsh weather, heavy traffic, and stretched budgets combine to make potholes an all-too-familiar landmark throughout the Capital City, and even across the province.
But in case you've ever muttered that we have the "worst roads anywhere," we suggest you think again. As bad as things can be in any city, few places on the planet can come close to...
The World's Most Dangerous Road
That honour goes to North Yungas Road, in Bolivia, which runs 70 km between La Paz and Coroico in the Bolivian Andes. The road amazingly rises over 3.5 kilometers as you drive around incredibly sharp and narrow hairpin curves, often with an 800-meter drop just inches away. Add heavy fog, torrential rains, mudslides, and no pavement, and oh, did we mention there are no guardrails? Peer over the edge on a day when there are no clouds below, and you'll see the wrecks of cars and trucks that will never make it to their destinations.
After seeing up to 200 people dying there each year, the road was finally closed to most traffic when a new, safer road was completed. But don't despair; if you really wanted to try the road for yourself, it's still open to tour buses, hikers and bikers. Let us know when you get back; we'd love to see the pictures!
Just in case you're not easily scared or impressed though, things are about to get even more dangerous. St. John's has some of the best walking trails in North America. The Grand Concourse, is a beautifully groomed network of trails connecting every major green area in St. John's, Mount Pearl, and Paradise. For those who enjoy a bit more rugged outing, the East Coast Trail offers breathtaking views of the coastlines along the entire northeast Avalon.
No matter how rugged the East Coast Trail gets though, it never comes anywhere near as terrifying or deadly as...
The World's Most Dangerous Trail
Welcome to the, ummm, scenic trail to Mount Huashan, in Xian, China. As you can see in the photo on the right, the only thing between you and certain death are a chain and three planks sticking out the side of a sheer rock wall. Hang on for dear life, and hope that you didn't pick a day when snow, rain, or ice make the walk even more… interesting.
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Want to see more? Click here to see some of the "best" that Siberia, China and Nepal have to offer. You'll never complain about St. John's potholes again.
And there they are: Sure cures to any complaints you might have for things being too rough around here. What do you think? Would you try either of these just for the sake of testing the limits of your bravery? Or the lack of your common sense?
Let us know your thoughts. Or even better, why not send along a picture or two of your own favorite roads or trails, whether in the St. John's area or anywhere else in the world. We'd love to see where you've been!
Torbay homes for sale have been in high demand for the past several years now, and no one living in the area is surprised. Actually, one look at the Torbay MLS listings will show you that Torbay is actually the second-fastest growing community in Newfoundland and Labrador. But exactly what is it that keeps pulling people into this hillside community, just minutes from St. John's? Well, after bringing you Five GREAT reasons to live in St. John's! and Mount Pearl Real Estate: Five Things to Love!, we thought it was time to shine the spotlight on Torbay real estate. So get comfy and read on as we bring you:
Torbay Real Estate: Five Things to Love
1. Incredible Scenery
You don't even need to turn off the main road through Torbay to be wowed by the spectacular ocean scenery. The too-blue-to-be-true ocean. The gentle green slopes giving way to dramatic, plunging cliffs being pummeled by huge, crashing waves. It's a photographer's paradise. But just in case you do want more, you'll find plenty by driving just a minute or two in almost any direction. Middle Cove. Outer Cove. Marine Drive. Pouch Cove. This is the type of scenery that tourists fly halfway around the world to find. But if you were in one of the new homes in Torbay you'd find it any time you looked out your window or went for a drive.
2. Community Festivals and Family Fun
The Town of Torbay is a fun place to be, no matter what the time of year may be. Each July, the Hillside Festival celebrates Torbay’s heritage and culture. Every year is unique, but you're likely to find everything from a children’s fun day, boat tours, community barbecues, and community dances, to Heritage Walks through the Town, neighbourhood softball challenges, seniors socials, and a fireworks finale. Through it all you'll also get lots of live music, including popular local performers sharing their talents at the Hillside Dance.
Then, each November through February, WinterLights has brightened the winter days and nights with fun and community-oriented social events such as social events for both kids and seniors and a
special needs Christmas party, as well as food-bank drives and clothing drives. Each week features something for residents, with a focus on both having fun and giving back to the community.
Even outside these festivals, there's lots to do in Torbay. How about skating at the new Jack Byrne Arena, craft fairs, dance workshops, arts and crafts events, hockey games, a Santa Claus parade, and much more? For more information see the Town of Torbay Website.
3. Country living, just minutes from City life
Torbay once seemed to be well outside St. John's. Not any more. Thanks to the Outer Ring Road, an oft-upgraded Torbay Road, and the fact that St. John's keeps growing outward, Torbay is now just minutes away from any part of St. John's. The town is especially close to St. John's International Airport and Stavanger Drive (the largest shopping area in Newfoundland and Labrador). Access to other communities in the region is also improving, given the new bypass road connecting Torbay, Flatrock, and Pouch Cove. if you love country life but big-city comfort, you'd have to be Hannah Montana to get any closer to having the best of both worlds!
4. Great business potential
With such great access to the province's biggest airport and road systems, and with all that available land, it's not surprising that Torbay is actively encouraging new businesses to call the town their home. Torbay has a low tax rate and also has an economic development department that encourages business growth through such programs as Small Business Week, development of a potential Business Park, business/professional development seminars, and enhancement of the current commercial area. Torbay's community of more than 70 businesses ranges from Liddy’s Bar, which is said to be the oldest operating drinking establishment in North America, to Metal World, with its huge fabrication facility serving commercial and industrial clients in Newfoundland and Labrador and around the world.
5. Great real estate demand
Wish so much to offer, MLS listings in Torbay will often feature homes for higher budgets. However, there is generally great value to be found no matter what your price range might be, if you're willing to spend some time looking for just the right fit. Torbay features homes that cover the full range of sizes and styles, both old and new and beautifully blending traditional Newfoundland and Labrador with cutting-edge executive stylings. Torbay is a great place to live and raise a family if you're looking for rural living with urban convenience. For more detail on exactly what Torbay real estate can offer you, please let us know. We think you'll be very impressed!
And there we have it... the best that Torbay real estate has to offer. Or is it? Did we miss anything? Leave a comment below if you think we slipped up somewhere. What do you love about Torbay? We'd love to hear from you!
Looking for new homes in St. John's? If you're buying, you'd probably prefer a home without ghostly figures in windows, hanging bodies, pictures falling mysteriously from walls, and the sound of babies crying when there are none around. Real estate can be tricky enough with getting into, well, unreal estate. So you can be pretty sure that no descriptions like those will show up in any MLS listings.
However, if haunted houses do catch your fancy and you'd like to explore, there is probably no one more familiar with the dark side of St. John's homes than the distinguished Reverend Thomas Wyckham Jarvis, Esquire, eminent Lecturer on the Paranormal, well versed in Grimm Tales of the Vengeful Deceased, Murthers of Gruesome Dispatch, Curious Manifestations of the Holy Ghost and Historical Miscellanea, and host of the award-winning St. John's Haunted Hike. Jarvis has led untold numbers of people through the darkened streets and alleyways of old St. John's, telling tales of apparitions and mysterious happenings. As the Haunted Hike Website relates, there are legends of hauntings at locations such as the Masonic Temple and Victoria Station on Cathedral Street, LSPU hall on Victoria Street, Sutherland Place Apartments on Kings Bridge Road, the Anglican Cathedral Graveyard on Church Hill, and Signal Hill.
Actually, given that St. John's is often still called the City of Legends, it's not surprising that tales of this sort exist. From the first days of settlers trying to carve out a place to survive on this rock even when it was illegal to spend a winter here, all through the many years of military battles and the changing hands, rising time and again from the three great fires that ravaged the city, and standing firm against five centuries of the brutal North Atlantic weather and those towering cliffs and jagged rocks that pulled over 10,000 ships and even more souls beneath the crashing waves, St. John's has known more than its fair share of dark and stormy nights and death and calamity. And watching over it all, that mysterious, foreboding fog has hovered, forever present, threatening to envelope us in its impenetrable grey shroud. It's the stuff that writers work hard to dream up, but to those of us who live here, it's just the view from the living room window.
So what are some of the homes said to be haunted in old St. John's? The Haunted Hike refes to several "true hauntings." Among them, there's the apartment on Brazil Street, which had the following written about it by a former resident:
The previous tenants were friends of mine who were driven out because the wife couldn't stand the manifestations, which they blamed on a rather sinister painting which had been left behind by some earlier tenant. They found the atmosphere sinister and frightening, and objects constantly fell from shelves and walls for no apparent reason. (Note that the building stands on solid rock, and that there is no moving traffic nearby.)...
The first and most persistent manifestation was that this painting used to fall off its nail on the wall and wake me up by crashing onto the electric radiator below. The nail was firmly placed and pointing upwards, so the painting couldn't have slid off. Most strikingly, the painting always fell down at exactly 3 a.m. every time...
I also experienced other manifestations such as a hand, apparently a woman's, lightly touching mine as I lay in bed. There was also the sound of a hand bell being rung. The sound was definitely within the kitchen area of the studio apartment, and could not have come from outside or the next apartment. In the same place, a pen once jumped at least eight inches into the air, and I once saw a kind of formless area of darkness, roughly in the shape of a bat, swoop across the room and vanish into a wall.
Then there's the story from the resident of a home on Victoria Street:
A spectre, female, going down the stairway from the third to the first floor of the house. It is visible when outside on the deck and facing the house. It pauses on the landing between the third and second floor as it is about to go down the stairway, turns toward the harbour and then turns again as it goes down the stairs. It is like a fog cloud in appearance. It has never been seen when I am inside the house. When it is seen there are no different lights lit outside, no planes in the air, no fog in the air, nothing out-of-the-normal. No audible sounds are associated with it.
More details of these and other hauntings can be found on the St. John's Haunted Hike Website.
How about you? Have you ever seen a ghost? Witnessed something so strange that it just had to have been from another dimension? Share your stories; we'd love to hear. And to all of you, have a happy and safe Halloween as you venture out on the spooky streets of old St. John's!
St. John's real estate has been a hot commodity for the past few years. Prices kept climbing for a long time, and for a while in late 2009 through early 2010, MLS listings in St. John's and area always seemed to be moving faster than KFC's Double Down sandwiches. Definitely heart-attack territory.
What a difference a few months can make. While it took a while for most people to realize it, the latest CHMC figures show that for the past six months or so a buyer's market has emerged in eastern Newfoundland. Buyer's market? You've heard the term, but what exactly is a buyer's market, anyway?
Glad you asked! Given the amount of money that you're investing when buying a home in St. John's, Mount Pearl, Torbay, or anywhere else for that matter, it's good to know what such terms actually mean. So let's take a closer look.
Put as simply as possible, a buyer's market is one in which more people are selling homes than buying. That means some of those homes stay unsold longer, and sellers then start dropping their prices in order to get them sold. It's also called a soft market by many people, but the bottom line is that it's great for buyers but bad news for sellers.
According to what we've just said, the number of listings, the number of sales, and the average price would all be indicators of a buyer's market. So how do those figures look for real estate in St. John's and area? As you can see on the right in the figures from CHMC, the number of active listings in the area is now at the highest level since before the start of 2008. That doesn't necessarily mean it's a buyer's market; if the number of sales were also at high levels, then it could actually still be a buyer's market. Unfortunately for sellers, that's not at all the case. As you can see in the second graph, the number of sales (represented by the red bars) have dropped steadily. That's a pretty powerful combination to create a buyer's market, which brings us to the third graph...
Looking at the St. John's real estate market since the start of 2008, we can see that buyer's markets existed in the early winter months of both 2009 and 2010. This is fairly common; the number of people wanting to buy a home and move everything during the winter months is relatively low, which means sellers have to work harder and bring prices lower in order to find a buyer. You can see in 2010 thought that the demand did not pick up significantly as the weather warmed up. Why not? Another good question; you're on a roll today! Let's jump back up to the second chart for at least part of the answer...
As can be seen from the blue line in that chart, average home prices were going through the roof, growing by over $60,000 in just two years! That kind of price increase will discourage or completely prevent many people from buying. This will eventually introduce a correction to the prices. As fewer people are buying, sellers need to lower their prices in order to move their properties. The fact that the increase continued for so long is a strong indicator of just how strong the St. John's housing market was during that time. But inevitably, market forces had to catch up, and that's what's happened in recent months, as the price of the average home now seems to be stabilizing at about the $250,000 level.
So here's a question... if prices were rising, wouldn't more sellers be out there trying to move their properties to get great value? Yet another great question! Yes, in theory that could happen, but it clearly did not in this case. We see St. John's MLS listings dropping while the prices rose. Any guesses why? Anyone? Bueller? Bueller?
The answer is that people selling will usually then also need to buy, unless they are moving away or had more than one home to sell. The same high pricing that would have kept others from wanting to buy would also discourage these people from doing the same. Most would therefore rather keep their homes until they feel they can buy another at a better price.
There is one other factor that can help create a buyer's market: low mortgage rates. A low rate will of course make it easier to finance a home, and that will naturally result in more buyers taking the plunge. Once again, the interest rates are looking very favorable for buyers, as can be seen in the fourth chart, and the CHMC release calls for those low rates to continue throughout the rest of 2010.
So there you have it: our basic explanation of a buyer's market, with real-life examples from today's real estate market in St. John's. Any questions? Comments? Did we oversimplify anything anywhere? Let us know... even if you don't own your own home yet, the floor is now yours!
It's okay to admit it... you've driven around St. John's or Mount Pearl at least a few times, admiring some of the homes in King William Estates or Admiralty Wood. There are some beautiful houses out there both old and new, and it seems like they just keep getting bigger.
However, you're not likely to see any around St. John's that matches one home just completed in Mumbai, India. The 27-storey billion-dollar home is home to Mukesh Ambani, the richest man in India and fourth richest man in the world, along with his wife and their three children. How big? Would you believe it has more floor space that the Palace of Versailles? How about a staff of 600?
Looking at properties in other places can certainly help put local real estate values into perspective. In case you've ever felt land prices are high around St. John's, you might be shocked to hear that land in the Cumballa Hill neighbourhood of South Mumbai starts at about $10,000 USD per meter!
So what exactly will you find at a billion-dollar home? Sure, it's easy to spend a lot of money when planning a new home, but a billion dollars? That's got to be a bit of a challenge. Well, among other things, the Ambanis chose to spend it on:
- A health club with a gym and dance studio
- A swimming pool
- A ballroom
- Nine elevators
- A 50-seat cinema
- Solid-gold chandelairs
- A four-storey hanging garden
- Three helipads on the roof, and
- A parking garage for 160 cars.
For more pictures, check out the whole story at the Overseas Property Mall or watch the video below. Then let us know what you think. A little bit over the top? Or exactly the summer home you'd build out on Nine Island Pond if you were the world's fourth richest person?
We're afraid we don't have any St. John's MLS listings that are quite this size, but let us know if we can help you find something just a little bit more modest. If nothing else, we'll treat you so well that you'll at least feel like royalty!
If you've driven around St. John's much at all in the past few months, you probably already know that 2010 has been a good year for new home construction, and real estate in general. Housing starts from January through September in the St. John's area are up by more than 12% from the same time a year ago.
According to the latest Canada Mortgage and Housing Corporation (CMHC) report, there were 1,328 new home construction starts during the period, whereas the first nine months of 2009 saw only 1,083. Certainly to anyone familiar with the local economy, this is not a complete surprise; St. John's has been one of the bright lights across the country and even around the world.
However, the news is not all perfect. CMHC notes that the number of starts in the region in the month of September dropped to 151, from 157 in September 2009. CMHC Senior Market Analyst Chris Janes explained that, with increased number of newly-built houses available for sale, new home construction has begun to slow, to be more in line with current economic conditions. He says new- home demand was steady during the first six months of this year, but has been slowing in recent months and will continue to slow throughout the remainder of 2010.
Across Newfoundland and Labrador, there were 1,432 housing starts for the first nine months of the year in urban centres with a population over 10,000. This 12.9% increase from the same period in 2009 is almost identical to the increase seen in the St. John's area. It's good to know that the better times are being seen beyond the overpass!
How about you? Have you noticed new home construction activity increasing in your area? Did you see things where you are slowing in September?
It's the Friday afternoon leading into Thanksgiving Weekend. Of course, we're always filled with Thanksgiving as we drive home on a Friday afternoon. But at this time of the year we stop to think about all that we have to be thankful for. And for most of us, there's a lot! Friends. Family. Health. Justin Bieber. The list goes on and on.
For those of us living in and around St. John's though, there is an especially long list. Newfoundland and Labrador is one of the most beautiful and safest places on the planet. Even with the terrible damage that we were dealt by Hurricane Igor recently, we are still free of the absolute, long-term devastation that has hit New Orleans, Pakistan, Turkey, and so many other places around the world. So even in the worst of times, we are still, quite simply, blessed to be here.
So in light of our good fortune and this being Thanksgiving, we offer seven reasons to give thanks in St. John's this Thanksgiving Weekend:
1. Great People
Newfoundlanders are famous around the world for our humour and kindness, and you don't have to be in St. John's very long to know that that's true. If you had to be stuck anywhere, there's no better place to be than stuck in St. John's, surrounded by a bunch of Newfoundlanders!
2. The Outdoors
This is one good-looking rock that we're on. Blue ocean, breathtaking hills and cliffs, trees that look great in any season... we could go on and on. Oh and the fresh air! People coming in on a plane smell the difference while they're still walking down the jetway between the plane and the airport terminal. It's marvelous! And thanks to the Grand Concourse and East Coast Trail, you can get out there and experience our outdoors up close and personal.
3. Johnson Family Foundation
We're keeping this list pretty general for the most part, but it's hard not to appreciate the gifts we've been given from the Johnson Family Foundation. The Grand Concourse. The Johnson GEO CENTRE. The clock tower at MUN. The walls and walkway around the Signal Hill parking lot. Statues around the city. That's millions and millions of dollars in money that could have stayed in their pockets that are instead given to make this a better city in which to live and visit. Thank you, Mr. Johnson!
4. A Strong Economy
Not many people anywhere on the planet have been giving thanks for the economy for the past year or two, but we can. Newfoundland and Labrador has been one of the world's brightest spots from a business point of view. The oil and gas industry has kept things moving, and a number of our other sectors have fared well too. After centuries of hardship, we are indeed fortunate to be doing as well as we are.
5. Amazing Arts and Entertainment
If there is any one thing that defines the spirit of St. John's, it is probably our arts and entertainment. From George Street to the LSPU Hall to Great Big Sea and countless other acts that have sprung up over the years, we entertain like no one else can. We didn't invest music and laughter, but... Oh wait... maybe we did!
6. Memorial University, CNA and Great Private Colleges
We've already mentioned how well our economy is doing, and a big part of that success is the foundation laid by Memorial University, the College of the North Atlantic, and other colleges here. Their research projects and skilled graduates have created clusters in the oil and gas industry, ocean technologies, and other fields that are unsurpassed anywhere on Earth. We're that good.
7. World Peace
Okay, we admit that we can't celebrate world peace yet. There is still a lot of trouble all around this planet of ours. Here in Newfoundland and Labrador though, we're as close to world peace as anyone is. So let's be thankful for what we have, and let's say thanks to those who serve in the military to help make other areas as peaceful as ours.
There you go. We could have gone on with another seven or even 700, but thought we'd keep it simple. How about it? Did we miss any? What are you most thankful for this weekend?
Send your comments, then back away from the computer and go spend a great weekend with family and friends. Play safe, enjoy the food, and stay thankful. This is one great place we live in!
St. John's CMA. Greater St. John's. St. John's and area. We've all seen the terms, but what exactly do they mean? What are the real estate conditions there? You'll know more than most once you read this post!
First, to define the basics, as explained in Wikipedia1, a CMA is a Census Metropolitan Area, which means a large city or "urban core" and any surrounding, closely-connected "urban fringes." In St. John's that would of course include Mount Pearl, Conception Bay South (CBS), Paradise, Portugal Cove-St. Philip's, and Torbay.
You may have already noticed that we have looked at Mount Pearl real estate in past posts, and will be exploring real estate in the other municipalities in future posts. However, as we move out beyond those, it gets a bit harder to predict which communities are also considered to be part of the package. Again borrowing from Wikipedia, the full member list of the St. John's CMA, along with the population of each in 2001 and 2006, is listed here:
| Municipality |
2001 |
2006 |
| St. John's |
99,182 |
100,646 |
| Mount Pearl |
24,964 |
24,671 |
| Conception Bay South |
19,772 |
21,966 |
| Paradise |
9,598 |
12,584 |
| Portugal Cove-St. Philip's |
5,866 |
6,575 |
| Torbay |
5,474 |
6,281 |
| Logy Bay-Middle Cove-Outer Cove |
1,872 |
1,978 |
| Pouch Cove |
1,669 |
1,756 |
| Flatrock |
1,138 |
1,214 |
| Bay Bulls |
1,014 |
1,078 |
| Witless Bay |
1,056 |
1,070 |
| Petty Harbour-Maddox Cove |
949 |
915 |
| Bauline |
379 |
364 |
Did you notice that virtually every community showed growth from 2001 to 2006? Those figures have climbed even higher since then. While the 2006 total shown in the table was 181,098, by 2009 the total population was estimated to have grown to 187,700. This made the St. John's CMA the fastest growing in Atlantic Canada. The only municipality in the area not experiencing growth from 2001 through 2006 was Mount Pearl. This may be a surprise to many, since "the Pearl" was long known for its very high growth rate. The problem came largely from that city's borders being limited by those of St. John's, and in particular the Southlands area. In fact, it is the only community on the Avalon with literally no room to grow. Nevertheless, Mount Pearl has seen several major developments within its existing borders, and we can expect to see the population rise again in upcoming measurements.
So how does this affect real estate in St. John's, Mount Pearl, or any of the other areas in the CMA? As might be expected, it means these are busy days! According to Canada Mortgage and Housing Corporation (CMHC) figures, housing starts in the CMA in August 2010 (the most recent month recorded) were up, totaling 179, versus 151 in August 2009. 2010's total starts were also up, with 1,177 in the St. John’s region up to the end of August, as opposed to 1,026 for the same period last year. The level of demand and resulting high prices will hold some back from buying, but overall the market is certainly strong.
How about you? What part of the St. John's CMA are you in? What signs do you see around you of the market being strong? If you would like more information, please be sure to contact us. At Your Newfoundland Home, we look forward to helping you find Your Newfoundland Home!
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1. http://en.wikipedia.org/wiki/St._John%27s_CMA
Our St. John's Real Estate Roundup recently looked at Pleasantville, in light of the ground being broken on the new development there. This morning, Happy City St. John's pointed their Facebook fans to a Defence Construction Canada (DCC) newsletter article highlighting the new base that will be built in Pleasantville. We were impressed, and thought we'd share the story!
This is indeed a pretty impressive development, bringing together the offices that are now spread across 13 aging buildings all around Pleasantville. Instead of that old mix, we will now see a very modern, $117-million four-storey multi-use facility that will include offices as well as vehicle maintenance garages, warehouse space, a gymnasium, medical unit and mess hall. If you're environmentally minded, you'll be happy to know that the building will meet the LEED® Silver standard for energy efficiency.
Of course, if you have been in the Pleasantville area lately, you may have noticed things already starting to happen there, but given the size of the project, the doors won't open for a while yet. The new building is scheduled to open in November 2013. And as impressive as the facility is, there will still be more to come. A Military Families Resource Centre will also be built, and significant work will be done to improve the surrounding roads to handle the new traffic flow. Plus, of course, the entire area will be transformed, given Pleasantville's major new real estate development. Overall, this will be one of the most significant St. John's real estate developments in the city's entire history.
The DDC is a Crown corporation created in 1951 solely to handle construction projects for Canada's Department of National Defence (DND). They've handled many major developments since then, and now also are responsible for project, environmental services and operational support services. Given the size of many of these activities, it makes it all the more impressive to note that the new Pleasantville structure is the largest contract in the DDC's history for the development of a single building!
Photo credit: Defence Construction Canada
Our St. John's Real Estate Roundup this time around visits St. John's East, long-time home of the most prestigious neighbourhoods in the greater St. John's area, and in all of Newfoundland and Labrador. New home construction has been going on in this area for hundreds of years, back to the days when the "old money" of centuries past first started settling into this harbour city. And while those earliest homes are now gone, thanks to the great fires of old St. John's, the ones that remain from the past 100 years or so are still impressive even by today's real estate standards.
St. John's East is where the seat of governments both past and present can be found, as can hundreds of stores, restaurants, winding walkways, and lovely lakes — or "ponds" as they're called by anyone who truly comes from Newfoundland! Let's take a closer look at the rich real estate appeal that can be easily found throughout the area. Oh, we should mention that, to best capture the appeal of the area, we may mention a few things here that technically fall slightly outside what is normally considered to be St. John's East.
St. John's East Homes
Beautiful homes stand out virtually everywhere you look in these neighbourhoods. You'll find breathtaking century-old Victorian-style homes on the streets of old St. John's, like Kings Bridge Road, Circular Road, and Monkstown Road. Just a little north of there, close to Churchill Square's shopping, you'll fall in love with the tree-lined and tree-named streets like Pine Bud, Maple, Chestnut and Beech. And still a bit further north, you'll be captivated by the newer neighbourhoods like King William Estates with their spectacular sprawling homes and even some waterfront properties. The homes of St. John's East are especially irresistible during the Christmas season, as the mix of bright lights and frosted trees give a storybook appeal to every street.
St. John's East Condominiums
Condominiums have become increasingly popular in recent years and, not surprisingly, St. John's East is where you will find several new developments as well as many of the province's more established condos. In fact, there is enough activity in this area that we are now putting together a full blog post featuring the main condominiums, both existing and new. So for now, we'll leave you with just that teaser, but if you would like more information now, please
contact us directly. St. John's condominiums are one of the most exciting areas of real estate development today!
St. John's East Golf Courses and Parks
Old and new blend together everywhere through St. John's East, and so we start our tour of St. John's golf courses and parks by visiting one of the oldest regularly held events on the entire continent. Quidi Vidi Lake is home to North America's oldest annual sporting event, the Royal St. John's Regatta. The quiet shores of Quidi Vidi are transformed into a mass of 50,000 people on the first Wednesday of each August. For the other 364 days of the year though, it is a beautiful spot for a stroll on the shores and boardwalks, and is also home to a popular dog park.
Within a pleasant walk of Quidi Vidi Lake is Bannerman Park, one of the province's crown jewels, with its historic buildings like the Colonial Building (a national historic site that was the seat of Newfoundland's government from 1850 until 1959), and the neighbouring Government House. The Park is surrounded on the other three sides by statuesque Victorian homes and bed and breakfasts. Bannerman Park is also home to a swimming pool, playground, and baseball diamond, and each year hosts special events like the Newfoundland and Labrador Folk
Festival and St. John's Peace-a-chord.hundreds of beautiful trees and sprawling grassy fields. Several of those old trees were unfortunately felled by Hurricane Igor in September 2010, but the Park is still a beautiful place to spend an afternoon.
Also not to be missed is the immense Pippy Park, one of the largest urban parks in Canada. Stretching across some 3,400 acres (1,376 hectares) the Park features Newfoundland and Labrador's largest serviced campground, walking and skiing trails, protected habitat for many plants and animals, and two golf courses! The 18-hole Admiral's Green is a Graham Cooke championship-designed course that has hosted the Canadian Pro Tour, the Canadian Junior and Juvenile Nationals, and the Canadian Ladies National Championships. Snuggled beside Admiral's Green is the Captain's Hill 9-hole course. Nearby, the YM-YWCA will soon open an impressive new facility, making Pippy Park even more irresistible.
Even besides the 27 holes in Pippy Park, golf courses are a major feature of St. John's East. The long-revered Bally Haly Golf and Curling Club is home to another Graham Cooke course as well as a four-sheet curling rink, and is considered by many to be the birthplace of Newfoundland and Labrador golf.
Yet two more 18-hole courses — the Osprey and Black Duck — can be found at Clovelly Golf, found in the northeast end of St. John's. Both courses were also designed by Graham Cooke and offer spectacular appeal to anyone looking for a superior golfing experience.
Overall, the value of St. John's real estate is significantly enhanced by the range of parks and golf courses available within a few minutes' drive from any part of the city.
And finally, you cannot mention parks in St. John's East or
anywhere in the region without including the Grand Concourse. The Concourse's 125 kilometers
of walkways and sidewalk routes connect every major green
space throughout St. John's, Mount Pearl and Paradise. It is
considered to be one of North America's finest walkways systems, and
even if you are one of the very few people who never use it, you can
still be thankful for the extra property value that comes to any home
nearby its many paths.
St. John's East Shopping
Shopping is a prime consideration when moving to any new home, and very few places in Newfoundland and Labrador come close to matching the range of shopping that you'll find in St. John's East. The largest concentration of large and high-end stores in the province can be found in the Stavanger Drive area. Big names like Costco, WalMart, Zellers stand out, surrounded by other well-known specialty stores like Future Shop, Staples, Old Navy, Lazy Boy, Michaels, Paderno, Princess Auto, and many others. Restaurants also dot Stavanger Drive, offering you favourites like Pizza Delight, Boston Pizza, Swiss Chalet, Tim Hortons, McDonalds, and more.
Nearby, Torbay Road has seen an ever-increasing number of stores and restaurants open their doors. Most can be found in a series of small strip malls on almost every corner from Stavanger Drive down to the large Howley Estates complex that features Sobeys and several smaller stores and offices. Elizabeth Avenue then offers another stretch of stores leading to the iconic Churchill Square, home to several well-established boutiques and restaurants. If you're looking for great shopping, it's hard to imagine it getting any better than what you'll find in St. John's East.
St. John's East Attractions
While some of the favorite attractions for people in St. John's East may actually be slightly outside the area, there is no denying that people there are never more than a few minutes away from some great things to do. To mention just a few, the Johnson GEO CENTRE is one of Canada's top museums, offering a fascinating underground look at the story of our planet, as well as a new, state-of-the-art 3D theatre and a world-class exhibit of The Titanic Story. Nearby, The Rooms is home to the province's archives, art gallery and museum, all housed in a spectacular structure overlooking old St. John's.
Another popular attraction in the area is the Fluvarium, located on the banks of Long Pond, just north of Memorial University. Here visitors travel downstairs to get a speculator panoramic view of life under the surface of the pond and Nagle's Hill Brook. It's a popular destination for schools, tourists, and local residents.
There are many other attractions to see, and we invite you to visit the City of St. John's Website for more information.
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So there you have it. What was hoped to be a brief introduction into St. John's East ended up developing into a pretty long blog post! But we have still barely scratched the surface of all that there is to know. If you would like to learn more about the real estate appeal of this or any neighbourhood in the area, please contact us. We look forward to hearing your particular interests, and helping you find your own Newfoundland Home in St. John's East!
Photo credit: City of St. John's
St. John's and Mount Pearl are warming up to a beautiful, sunny day as these words are being written. However, far from enjoying it, many people are working to recover from Hurricane Igor. They're tackling flooded homes, downed trees, damaged cars and fences, and no electricity. Outside the immediate area, many others are also facing isolation, due to roads and even major highways being washed away.
Hurricane Igor wreaked some of the worst devastation on eastern Newfoundland that the island has ever seen from a storm. VOCM News reported that the weather station at Bonavista received 135 millimetres of rain on Monday morning and probably would have recorded more but the rain gauge
overflowed. On the south coast, St. Lawrence received 239 mm (more than 9"), while St. John's West was hit with 134 mm (about 5 1/2"). This is one of the worst on record for the province, with only two other storms in the past 10 years coming close. As VOCM also reported, in 2001 Hurricane Gabrielle delivered 230 mm near Cape Race, and in 2007
Hurricane Chantal hit the Argentia area with 200 mm.
The winds were also significant, hitting 137 km/hour (about 85 mph) at St. John's International Airport, and 172 km/hour (about 107 mph) at Cape Pine, near St. Shott's on the southern tip of the Avalon Peninsula. Up to 50,000 people lost electricity, with about 75 hydro lines being downed. However, the greatest damages were caused by the rain and resulting flooding. Photos and videos of the damage are now showing up on Facebook, Twitter, YouTube, and other sites. You can also see several photos on VOCM's Website, at http://www.vocm.com/photogallery.asp?id=87&mn=7 and also see dramatic damage from the south coast on the attached video.
If you're among those who escaped the worst damage, there will certainly be ways you can help those who were not so fortunate. Check on your friends and neighbours. Maybe you can help move items from flooded homes, or store some things for other families until they have things back in order. Perhaps you can store food in a freezer or refrigerator until power returns. Newfoundland is famous for its helping spirit and care for others. Now is a good time to show others that we have not forgotten those values.
Photo credit: VOCM News