64/ MARCH/APRIL 2017 THE RIDER REaL EStatE: What’s happening with this Crazy Real Estate Market!?

won’t experience price declines this year. This is particularly true for homes located in the Greater Toronto Area and in the larger Ontario region known as the Golden Horseshoe. This is due, primarily, to a pronounced lack of supply of housing stock, particularly for low-density, single-family detached homes. It seems people are trying

By Teri Davidson Despite a predicted decline in sales activity

for 2017, most of Ontario’s housing markets

to escape the rising prices of the bigger cities and looking to move a short drivable distance from the Toronto and Hamilton markets to smaller communities which are now serving as bed- room communities for the com- muters looking to keep their higher wage employment while

enjoying a lower priced style of living.

As a result, anyone in the

market to sell a home in the GTA or in the surrounding areas, including Niagara, Hamilton, Halton, Peel, York and Durham, can continue to expect strong demand. This should translate into higher sale prices and fewer days on the market. Keep in mind, housing

markets are not as prone to bub- bles, and to burst bubbles, when compared to other financial markets. This is, in part, due to the large transaction and carry- ing costs associated with own- ing real property. However,

over the last few decades, the combination of very low inter- est rates and the regulations that allow easier access to mortgage financing has prompted more borrowers to enter the real es- tate market and this has put in- creased pressure on demand. For a crash to occur, there would need to a sudden drop in demand, such as a fairly quick rise in interest rates or signifi- cant a tightening of credit stan- dards.

Our governments imple-

mentation of buyers with less than 25% downpayment having to qualify at the Bank of Canada rate rather than what the rate actually being offered

caused a lot of younger first time buyers to have to delay their dream of buying a first home. This caused a softening of the market but this lower price range of home was soon being bought up by investors who saw this as being a good chance to buy rental property to rent to these buyers who were having to rent rather than purchase. This brought back the rising market prices and we are seeing multiple offer situations and properties selling for far over asking price once again. I believe things will slow down toward the end of this

year or the beginning of next making this a good time to sell the higher priced properties and move down into something more affordable. According to the Canadian Real Estate Association

(CREA), national sales are forecast to drop in 2017 by 3.3%, compared to the previous year. In its annual year- end report, CREA states: “Transactions in B.C. and On- tario are anticipated to remain strong but fall short of this year’s record levels due to deteriorating affordability, an ongoing shortage of affordably priced listings for single family homes and tightened mortgage regulations.” Mortgage rates are expected to rise in 2017. While the in- crease is expected to be slow to moderate, this increase— due to increased capital cost requirements for lenders and the possibility of inflationary economic policy under Pres- ident Donald Trump—will also reduce the number of home buyers in the Canadian marketplace.

Teri Davidson is Broker Owner of Associate Realty

in Brantford Ont. She has been a licensed realtor with the Brantford regional Real Estate Association since 1976 and sits on several committees within her board. She and her family own and operate White House Farm in Ancaster , Ont.

The Jockey Club of Canada Announces 2016 Media

Sovereign Award Finalists

Toronto - The Jockey Club of Canada is pleased to an- nounce the finalists for the Media Sovereign Award cate- gories for 2016. The winner in each of the three media categories will be announced at the 42nd Annual Sover- eign Awards on April 13, 2017 at Palais Royale in Toronto. Judging for the 2016 Media Sovereign Award cate-

gories was performed by Professors of the Journalism Pro- gram at the School of Media Studies & Information Technology, Humber Institute of Technology & Advanced Learning, Toronto, Ontario, Canada.

Real Estate Agent Directory Brant County

Central Ontario

Teri Davidson Broker/Owner

Over 36 yrs full-time experience • Canada's Most Referred Realtor

Serving: Brant, Haldimand, Norfolk, Ox- ford, South Dumfries, North

Dumfries, Ancaster, Flamborough, Cambridge and Woodstock.

Associate Realty Brantford Inc.

519-752-4116 • (519) 647-3330

Erin, Caledon & Surrounding Areas Put your

business here and online for only $299.00 per year!

Broker Harnessing Country Living For You

1-800-268-2455 • (519) 939-SELL (7355) E: Top 3% in residential marketplace 2014-2016

Listed In Alphabetical Order, The Finalists Are:

Writing Category: • Steve Buffery – Trainer Marc-Andre Blouin and his horse don’t know the meaning of quit – Published Toronto Sun • Joe Nevills – Giant Gizmo rocketing up the charts – Pub- lished Daily Racing Form • Beverley Smith – Laurie Silvera’s Woodbine Paradise – Published

Digital Audio/Visual and Broadcast Category: • Horse Racing Radio Network – 157th Queen’s Plate – Broadcast Woodbine Racetrack • Talkin’ Horses – TH S3 EP13 – Broadcast on CTV • Woodbine Entertainment Group – The Ricoh Woodbine Mile – Broadcast on TSN2

Photograph Category: • Cody Gregory – Morning Workout – Published • Erika Rusnak – Dashing Through the Snow – Published Ontario Horse Racing • William Wong – Wednesday Night Lights – Published Ontario Horse Racing

You don’t need to be a finalist to attend the 42nd An-

nual Sovereign Awards on Thursday, April 13, 2017. Everyone is invited to purchase tickets and help celebrate the 2016 Champions of Thoroughbred racing in Canada. Tickets are currently being offered at an Early Bird

discount of $200 each and tables of 10 are $2000. Prices will go up on March 15, 2017 to $250 each and tables of 10 are slightly discounted at $2400. All tickets are plus applicable taxes and must be re-

served in advance by contacting The Jockey Club of Canada at 416-675-7756 or email:

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