In speaking with one of our trusted mortgage brokers, they’ve said one of the biggest worries people have when buying a home is the appraisal coming in low. Thinking about it, we agree - this is a part of the process you as a consumer have no control over. 

One note I want you to remember though... It's rare for an appraisal to come in lower on a purchase! 

As one appraiser once said to me: "The best way to tell what a property is worth is by what it just sold for in the open market". Honestly, I rarely actually see an appraisal these days on a MLS purchase (most just auto-appraise), and when I do they almost always come it at sale price.

Clients with less than 20% down:

• I almost never see an appraisal needed for these clients, unless the property is in poor shape, purchased privately, or under power of sale. 

• The main reason we rarely see appraisals needed is that there are so many comparable sales in this price range, and the mortgage insurers (CMHC, etc...) are responsible for determining the property value. Their automated Valuation model (AVM) algorithm is super generous, so this rarely happens.

• For context, I can't think of a deal I have done in the last year for an insured purchase where the purchase price was not supported... not a single one!

Clients with 20% down:

• If they're looking under a million, again we see very few appraisals needed as long as the property is urban, not a rental, in poor shape, purchases privately, or power of sale. There's usually enough comparables in the market that either the lender's AVM or the appraisal supports the purchase price.

• If they're looking over a million (or more rural) and just have the 20% down, this is where there's a bit more risk at play simply because there are less supporting comparables, and the higher the price point, the more subjective the property evaluation becomes.

• Again... I can't think of my last deal where a purchase price under a million wasn't supported by either an AVM or an appraisal (knock on wood!).

Clients with a massive down payment (think over 35%):

• These are the easy files - almost no risk unless there's something wrong with the property itself.

• If a client is buying a $900k home with $300k down and the appraisal comes in at $880,000, in the lender's eyes it's simply a $880,000 purchase with $280,000 down, and the client is kicking in the $20,000 difference. Easy!

Hopefully this can help relive some stress you have when thinking about mortgages. If you need any additional help we love working with Jim! https://jimstefflermortgages.com/

Okay real talk, spring is finally here, and it’s time to shake off those winter blues and give your house a little refresh. Whether you're living at home, renting your first place, or just helping your family tidy up, here’s a simple way to get your space feeling clean, bright, and ready for the season.

1.Clear the Clutter

You know all that stuff that’s just been sitting around since, like, November? Yeah... time to go through it. Put away the winter coats, throw out old junk you don’t need, and maybe even donate some stuff. Less clutter = less stress.

2. Give It a Good Clean

Time to blast your favourite playlist and do a solid clean. Dust off those corners, wipe down windows so the sunlight actually comes through, vacuum like you mean it, and maybe even tackle the scary spot under your bed 👀.

3. Check your Air Conditioning

If your place has AC or vents, change the filters and clean around them. You’ll thank yourself later when the weather heats up and your place isn’t a stuffy nightmare. Bonus: it helps with allergies too.

4. Tidy Up Outside

Winter can be rough on your house. If you’ve got a driveway, roof, or even just a little patio, take a walk around and see if anything’s cracked, broken, or just straight-up messy. Cleaning the outside makes the whole place feel better.

5. Double Check Safety Equipment

Quick reminder to test your smoke alarms, check batteries, and make sure your place is safe. Super easy, super important.

Thinking About Moving Soon? Spring’s actually a super popular time to buy or sell a home. So if you (or someone you may know) are thinking about moving, now’s a great time to start planning. And if you want help with that, I know a few people 😉

*Last Updated April 1st 2025

As we approach the 2025 federal election, housing affordability and supply remain key issues for Canadians. With demand outpacing supply in many markets, homebuyers, sellers, and investors are looking to political leaders for solutions. Each major party has put forward policies aimed at addressing housing challenges, and as a real estate professional, I want to break them down in a straightforward, unbiased way.

Liberal Party of Canada

Under the leadership of Prime Minister Mark Carney, the Liberals' Canada’s Housing Action Plan focuses on increasing supply and affordability by:

• Doubling home construction with 500,000 homes a year. Using the model similar to that after WWII with affordable, modular and efficient homes. 

• Cutting red tape to speed up home construction and repurposing federal lands for housing. (New Policy)

• Developing a Home Buyers’ Bill of Rights to increase transparency in the purchasing process. (New Policy)

• Removing the GST from new rental housing projects to encourage development. (Continued Policy)

• Supporting first-time homebuyers with a Tax-Free First-Home Savings Account and a doubled First-Time Home Buyers’ Tax Credit. (Continued Policy)

• Introducing a two-year ban on foreign home purchases and an anti-flipping tax on properties sold within 12 months. (Continued Policy)

• [Source: Liberal Party of Canada](https://liberal.ca)

Conservative Party of Canada

Led by Pierre Poilievre, the Conservatives emphasize increasing housing supply through:

• Incentivizing municipalities to boost homebuilding by 15% annually or risk losing federal funding.

• Selling 15% of federal buildings to be repurposed as housing.

• Eliminating the GST on new homes priced under $1 million.

• Introducing longer mortgage terms (seven to ten years) and reviewing mortgage stress tests to ease affordability.

• Maintaining a two-year foreign buyer ban.

• [Source: Conservative Party of Canada](https://conservative.ca)

New Democratic Party (NDP)

Under Jagmeet Singh, the NDP’s approach centers on affordability and renter protections, including:

• Implementing a 20% tax on home sales to non-Canadian citizens and non-permanent residents to curb speculation.

• Doubling the Home Buyers’ Tax Credit to help with closing costs.

• Reintroducing 30-year mortgage terms for CMHC-insured entry-level homes to lower monthly payments.

• Waiving the federal GST/HST on new affordable rental units.

• Building 500,000 affordable housing units over ten years, with half completed within five years.

• [Source: New Democratic Party of Canada](https://ndp.ca)

Green Party of Canada

Under co-leaders Elizabeth May and Jonathan Pedneault, the Greens propose structural changes to prioritize affordable and sustainable housing by:

• Refocusing CMHC on affordable, non-market, and cooperative housing solutions.

• Restoring tax incentives for purpose-built rental housing and encouraging community land trusts.

• Launching a Canada Co-op Housing Strategy with CMHC.

• Increasing funding for new builds and rental assistance.

• Creating a dedicated Minister of Housing to tailor national strategies to local needs.

• [Source: Green Party of Canada](https://greenparty.ca)

What This Means for Homebuyers and Sellers

Regardless of the election outcome, housing policy will continue to evolve. Buyers may see shifts in affordability programs, incentives, and mortgage regulations, while sellers should stay informed about market trends driven by new supply and demand policies. Investors should pay close attention to tax changes and foreign ownership rules.

As always, real estate is local, and national policies often play out differently across provinces and cities. If you have questions about how these potential changes could impact you, feel free to reach out!

Get out and vote!

ReMax just revealed their brand-new logo for 2025 at their R4 convention in Las Vegas! The update is all about making Our branding more modern and digital-friendly, so it looks better online and on social media.

The new logo has been getting mixed reactions online. Some people really like the new design, while others are giving it quite a bit of slack. Many fans of the old logo feel that it had a more timeless appeal, while supporters of the change appreciate the modern and sleek approach.

The new design is meant to keep ReMax up-to-date in the new digital world. You’ll start seeing the new logo everywhere, on signs, marketing materials, and all over the internet.

So, what do you think? Do you like the new ReMax look, or do you prefer the old one? Drop your thoughts in the comments!

If you haven’t made consent small talk about the snow lately, you probably don’t live in our market. It’s been a long time since we have seen a winter like this, and although I enjoy the snow, shovelling these large banks is getting tiring. If you’ve ever noticed a thick ridge of ice forming along the edge of your roof, you may be dealing with an ice dam. These formations can cause serious damage to your home if not addressed properly. Let’s break down what ice dams are, why they form, and how you can prevent them from wreaking havoc on your property.

An ice dam is a buildup of ice that forms along the edges of a roof, preventing melting snow from properly draining off. When warm air escapes into the attic, it causes snow on the roof to melt. As the water reaches the colder edges of the roof, it refreezes, creating a barrier. Over time, this dam can trap more water behind it, leading to leaks, structural damage, and even mold growth inside your home.

Signs of Ice Damming

• Large icicles hanging from the roofline

• Water stains on interior walls or ceilings

• Ice buildup in gutters and downspouts

• Warped or sagging roof edges

Ice dams might look harmless, but they can lead to significant damage, including:

• Roof Leaks: Water pooling behind the ice dam can seep under shingles, leading to costly roof repairs.

• Insulation Damage: Once water enters your home, it can soak attic insulation, reducing its effectiveness and increasing energy costs.

• Mold and Mildew Growth: Moisture buildup can create the perfect environment for mold, which can pose health risks for your family.

• Structural Issues: Repeated ice damming can weaken roofing materials, ceilings, and walls over time.

The good news? Ice dams are preventable! Here are a few key steps you can take:

1. Improve Attic Insulation & Ventilation: Ensuring your attic stays cold prevents uneven melting of snow on your roof.

2. Seal Air Leaks: Close any gaps around vents, chimneys, and light fixtures to prevent warm air from escaping into the attic.

3. Clean Your Gutters: Clogged gutters prevent proper drainage, making ice dams more likely to form.

4. Use a Roof Rake: After heavy snowfall, carefully remove excess snow from the edges of your roof.

5. Consider Heat Cables: In problem areas, heated cables can be installed to prevent ice formation.

If you notice an ice dam forming, act quickly:

• Use a roof rake to remove excess snow (but do so safely!).

• Apply calcium chloride (NOT rock salt) to help melt the ice.

• If you’re dealing with leaks or significant buildup, call a professional to assess and fix the issue.

As a homeowner, staying ahead of winter-related maintenance can save you from costly repairs down the road. Ice dams are a serious concern, but with the right preventive measures, you can keep your home safe, dry, and damage-free all winter long. If you’re considering buying or selling a home this season, our team is here to help. We can provide guidance on winter home maintenance and ensure you’re making a well-informed decision. Reach out today—we’d love to chat!

Our next provincial election is coming up, and while voting might not be everyone s priorities, it’s one of the most important ways to have a say in the future of the province. The provincial government makes decisions that affect daily life, from healthcare and education to transportation and one of the biggest concerns right now, housing.

What Does the Provincial Government Do? 

Unlike municipal governments, the provincial government is responsible for a lot of things that impact us directly. They make decisions about things like healthcare, education, public transportation, highways, energy, housing policies and affordability 

Housing is a major issue for many people right now, whether they’re trying to buy their first home, rent an apartment, or even just keep up with inflation.

Housing Is Mostly a Provincial Issue 

Many people assume housing policies are a federal responsibility, but the provincial government plays the biggest role in shaping the housing market. They decide on policies that affect what can be built and where, how much landlords can increase rent and what protections renters have, programs to help first-time buyers, land transfer taxes and foreign buyer taxes. 

The choices made by the next provincial government could impact housing affordability and availability for years to come.

Your Vote Makes a Difference 

If you care about housing, affordability, or any other issue that affects your daily life, voting is a great way to have your voice heard. Elections are decided by the people who show up, and your vote helps shape what will happen for years to come.

Paris is growing fast, and now, two brand-new schools are coming to town. This is good news for students and families because it means more space, better facilities, and new classrooms to learn in. The provincial government is investing millions to build these schools and help with crowded classrooms.

One of the schools coming to Paris is a new Catholic elementary school and the other, a new public elementary school. They’ll have cool learning spaces, big gymnasiums, and outdoor areas for students to enjoy. Plus, they are saying both schools will have childcare centres, which is super helpful for parents who need a safe place for their kids while they work.

The Ontario government is putting $51 million into these schools as part of a bigger plan to build and improve schools all over the province. This investment will create over 1,000 new spots for students and more than 100 licensed childcare spots in Paris.

For students and families, this is a game changer. More space means less crowded classrooms, better learning experiences, and brand-new facilities. Paris is growing, and these schools will help make sure kids have everything they need to succeed.

Are you getting your home ready for the Spring market? We’ve got some upgrades with the best return on investment for your curb appeal. The first thing a buyer will notice about your home is the exterior and front of the house. It’s a smart idea to give the best first impression to potential buyers, you can do this by following some of our tips below.

The first upgrade we have for you is landscaping. Landscaping is one of the most impactful ways to boost curb appeal. Focus on simple upgrades like adding mulch, planting flowers or shrubs, and trimming overgrown trees to create a nicer look.

Replacing your garage door offers one of the highest returns on investment. A new garage door not only adds to the overall look of your home but also improves functionality and energy efficiency, making it a great upgrade for homeowners.

Upgrading to new windows enhances your home's curb appeal while also adding comfort and style. New windows can lower outside noise making it an investment that pays off in value and aesthetics.

Installing a new steel front door is a good way to elevate your home's curb appeal and make a better first impression. Known for its durability, security, and appearance, a steel door is a smart investment that adds value and makes your home's exterior better.

Exciting news for hockey fans and Brantford residents, the Brantford Bulldogs are here to stay for another 15 years! The team has been bought by NHL player Zach Hyman and his family.

The Bulldogs originally moved to Brantford in 2023, playing at the Brantford Civic Centre after their old arena, the FirstOntario Centre in Hamilton, was being renovated. Now, with their new owners, the team is planning to build a brand-new sports complex in Brantford to serve as their new home.

Zach Hyman explained one of the main reasons for this long-term commitment: “Hockey brings people together.” If you’ve ever been to a Bulldogs game, you would know the atmosphere is electric and they definitely bring the community together. With 15 more years ahead and a new arena, there is plenty for the community to be excited for.

 Big Plans for the Future

The Bulldogs aren’t just staying, they’re investing in making Brantford their forever home. The new arena promises to be a modern and exciting facility, and many locals, myself included, can’t wait to see what big plans they have.

It’s great to see how this team is focusing on more than just hockey. The Bulldogs are making it clear that they want to be a meaningful part of Brantford’s identity and future.

 Why This is Awesome for Brantford 

Having the Bulldogs in Brantford is a big win for the city. The games are thrilling, family-friendly events, and now we have at least 15 more seasons to enjoy. With a brand-new sports complex on the way, Brantford will feel like an even more serious hockey city.

But this isn’t just about hockey, it’s about building pride in our community and giving residents something special to rally around.

 Can’t Wait for What’s Next!

Whether you’re a huge hockey fan or just looking for a fun weekend activity, the Brantford Bulldogs are here to stay, and the future looks brighter than ever. With new owners, a long-term commitment, and big plans ahead, Brantford’s hockey scene is on the rise.

 Let’s go Bulldogs!

The news of Justin Trudeau's resignation as Prime Minister of Canada has sent some shock through Canada, sparking debates about the potential effects on certain industries as well as the real estate market. As Trudeau steps down, it’s important to look at how this might affect housing policies, the real estate market, and the economy.

 1. Uncertainty and Market Reactions

Leadership transitions can bring uncertainty to many things including the real estate market. Buyers and sellers may have a wait-and-see approach until they see how Trudeau’s resignation will influence real estate which could slow down market activity.

  2. Shifts in Housing Policy

 Under Trudeau's leadership, the government introduced some housing-related policies, including the Tax-Free First Home Savings Account (FHSA), the ban on foreign homebuyers, and significant investments in affordable housing. With his resignation, these programs may come into question:

 - Affordable Housing: Trudeau's government prioritized funding for affordable housing projects, including the Rapid Housing Initiative. A change in leadership could lead to another look or reduction of these commitments.

- Foreign Buyer Ban: For the past two years, foreign buyers haven’t been allowed to purchase homes to help control rising prices. Under new leadership they might decide to change this rule depending on their plans.

- Support for First-Time Buyers: Programs created to help first-time buyers, such as the FHSA, may be changed or replaced under a new administration.

 3. Economic Stability and Interest Rates

 Trudeau’s resignation may influence Canada’s economy, which also affects the real estate market. Uncertainty could lower confidence and international investment. Additionally, with the Bank of Canada closely monitoring inflation and housing prices, any shifts in policy under new leadership could change the direction of interest rates, affecting housing costs.

 What This Means for Homebuyers and Sellers

 For homebuyers, uncertainty surrounding Trudeau’s resignation could lead to a temporarily slow market as sellers await clarity on what will happen. Sellers, on the other hand may find it challenging to predict market trends for the next couple months.

 Investors’ Perspective

 Investors should stay up to date on this matter as well as policy changes. Markets may experience unpredictable outcomes, but this could also present opportunities if you’re prepared to adapt to shifting conditions.

 Conclusion

 Justin Trudeau’s resignation marks the end of an era in Canadian politics, with potential effects on the real estate market. While we don’t know the full impact yet, this transition presents challenges and opportunities for people in the market. Staying informed and working with knowledgeable real estate professionals will help through your real estate journey.

As we bid farewell to 2024, it's time to reflect on how the real estate market performed over the past year. From price fluctuations to shifts in sales volume, here’s an in-depth look at what happened in 2024 and how it compared to previous years.

Quick 2024 Summary:

• Average Sale Price: The average home price in 2024 was $587,268, marking a +1.91% increase from 2023’s average of $576,259. This modest rise indicates continued stability in home values despite market headwinds.

• Sales Volume: Total sales for the year reached 2,613, a slight decline of -1.47% compared to 2023’s 2,652 sales. This continues a multi-year trend of declining sales volumes, reflecting a more cautious market.

Monthly Trends: Peaks and Valleys

• January to March: The year began with a strong January, with average sale prices at $574,876, a remarkable +14.7% YoY increase from $501,263 in January 2023. However, February and March saw prices dip slightly below 2023 levels.

• Spring Market (April to June): Spring proved to be the star of 2024. April’s average price soared to $681,863, an impressive +12.4% YoY gain, the highest monthly increase of the year. June also saw strong performance, with prices at $648,355, reflecting renewed buyer confidence during this period.

• Summer Market (July to September): Prices softened during the summer months, with August experiencing the sharpest drop to $519,457, down from $572,774 in 2023.

• Fall and Early Winter: The market rebounded in the latter months of the year. December’s average price climbed to $644,163, a significant increase from $574,404 in December 2023.

Key Economic Factors in 2024

1. Bank of Canada Key Interest Rate Cuts: Throughout 2024, the Bank of Canada steadily reduced its key interest rate, providing much-needed relief to borrowers and spurring activity in the housing market. This downward trend in rates is widely expected to continue into 2025, further encouraging buyer confidence and affordability.

2. CMHC Lending Policy Changes: A significant policy shift by CMHC allowed home buyers to secure insured mortgages for properties valued up to $1.5 million, up from the previous cap of $1 million. This change expanded opportunities for buyers in higher-priced markets and contributed to the stability of home values across Canada.

3. 30 Year Mortgages: First time home buyers, and any buyers purchasing some new construction homes, are now able to extend their mortgages up to 30 years. This means they can now get into a home they previously couldn’t afford or get into the same home with more affordable monthly payments. 

4. Projected Annual Value Increase: By the end of 2024, we anticipate an overall increase in home values of 4-6%, with the bulk of these gains recognized during the strong spring market. This growth reflects the combined impact of improved affordability and increased buyer activity driven by economic adjustments.

Key Trends and Insights

1. Price Stability Amid Fluctuations: The average sale price saw modest annual growth, but monthly data revealed significant fluctuations, with spring and winter markets driving overall gains.

2. Declining Sales Volume: The gradual drop in sales since 2021 points to potential challenges, including higher interest rates earlier in the year, tighter lending criteria, or market saturation. Buyers may also be adjusting to affordability concerns.

3. Seasonal Patterns: Spring remains the most dynamic season, with buyers and sellers taking advantage of increased activity. Conversely, late summer continues to be a quieter period for the market.

What Does This Mean for 2025?

As we move into 2025, these trends offer valuable insights:

• For Buyers: With rates continuing to drop and increased lending flexibility, timing will be key. Spring and late winter could present competitive opportunities, while summer may offer deals.

• For Sellers: Strategic timing will be crucial. Listing in spring or late fall could maximize your returns, as these periods consistently show price resilience.

• For Investors: With a projected 4-6% annual value increase and expanding lending options, 2025 could be a prime year for strategic investments, especially during quieter summer months.

We expect 2025 to be a continued year of growth. However we constantly heard throughout 2024 that the market was slow, which if compared to 2021 / 2022 it can certainly feel that way, but with 38 years of experience on our team we can tell you that this market is still healthy and fast when properties are priced correctly and marketed at a top level. Lending rates continue to drop, and many are expecting a nearly 1% drop in the BoC key lending rate in the first quarter of 2025 which means homes will become more affordable, this combined with new home buyers able to extend their mortgage to 30 years increasing their purchasing power further we expect prices to climb and sales to grow.