ED TRACY*

Cell: (705) 796-6348 |

 

I have listed a new property at 30 SHANTY BAY Road in Barrie. The list price is $559,900 
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I have listed a new property at 28 KEMPENFELT Drive in Barrie. The list price is $689,000 
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I have listed a new property at 160 COLLIER Street in Barrie. The list price is $599,900 
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I have listed a new property at 160 COLLIER Street in Barrie. The list price is $599,900 
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I have listed a new property at 30 KEMPENFELT Drive in Barrie. The list price is $735,000 
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Selling Sooner Rather Than Later May Save You Thousands of Dollars!

 

The craziest real estate market in Canadian history has received the attention of experts globally, and now the Canadian Bank Regulator (OSFI). 2017’s real estate roller coaster proved once again that Canadians appreciation for home ownership, at any price, had no limits.

 

Have we reached the peak? The Canadian Bank Regulator (OSFI) seems to think so! Regulations put in place in 2016, designed to slow things down, did not have the desired outcome. Buyers of all classes simply found ways around the rules. As of August 2017 insured mortgages (CMHC) were down 40.5 per cent in the 12 months since they were subject to the 2016 stress test, while uninsured mortgages grew 17.3 per cent. This is why the Canadian Bank Regulator felt compelled to act once again

.

The new stress test is designed to simulate a borrower's financial situation by assuming they would have to pay back the loan at the posted average. Under OSFI's new rules, borrowers would be stress tested at either the five-year average posted rate, or two per cent higher than their actual mortgage rate — whichever one is higher. Financial experts expect an initial rush of buyers before the January 1st 2018 deadline, after which sellers will have to bear the burden and make up the difference if they want to sell.

 

In 2017, where the average single detached home in the City of Barrie is $535,000, a buyer in 2018 will be approved for $85,000 less of a mortgage. Since it’s not likely the average buyer could come up with the extra down payment amount required, sale prices will, over time, be adjusted lower to reveal a new average selling price through 2018 of approximately $450,000/$500,000.

 

Without a doubt, the ride up for now is over. By the time prices begin to recover 2-3 years from now, home sellers will have ample competition from new home builds in the south east and west corridor of Barrie, where there will be an expected explosion in population in the new Innisfil/Barrie City annexed lands. Approval for thousands of new build homes are already underway.

 

If you’re considering selling your home within the next 6-12 months, selling sooner rather than later might just put tens of thousands of extra $$ into your bank account.

 

Plan ahead! Don’t hesitate. To find how this might affect you or for more facts, figures or detailed data, you can reach me at edtracy@me.com or direct 705 796 6348.

 

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I have sold a property at Barrie.
Immaculate, ready to move in. 2369 sq. ft. with many upgrades. Hardwood floors main and second floor. 4 Bathrooms. Spacious dining room, generous kitchen with island and breakfast area and granite countertops. Main floor family room with gas fireplace. Full finished basement with 2 piece bath. Recently repainted in custom decor. Beautiful oak floors and crown molding. Large master with walk-in closet and bright 4 piece ensuite. Spacious main bathroom. Walkout from the kitchen to very spacious deck and fenced yard. Meticulous landscaping front and rear. Inground sprinkler. Gas BBQ outlet. Large front porch. Oversized cold room storage. Closing is flexible. Check out the Video Tour.
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I have listed a new property at 51 KRAUS Road in Barrie. The list price is $535,000 
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I have listed a new property at 42 ARCHER Crescent in Elmvale. The list price is $649,900 
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I have sold a property at e in Barrie.
Quality Built Gregor Home In Country Club Estates. Prime Location In North East Barrie, off Livingston St. Private quiet back yard. 5 Bedroom Raised Bungalow With Two Bathrooms. Eat-In Kitchen. Fully Finished Basement With Two Bedrooms, Rec. Room And Bathroom. Bright And Spacious With Large Basement Windows. Newer Shingles. Water Softener And Central Vacuum. All Appliances. Private Rear Fenced Yard With Deck.
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I have listed a new property at 42 ARCHER Crescent in Elmvale. The list price is $649,900 
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I have listed a new property at 10 FOREST DALE Drive in Barrie. The list price is $479,900 
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I have listed a new property at 461 PENETANGUISHENE Road in Oro-Medonte. The list price is $1,100,000 
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I have listed a new property at 1990 WEBSTER Boulevard in Innisfil. The list price is $650,000 
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I have listed a new property at 461 PENETANGUISHENE Road in Oro-Medonte. The list price is $1,100,000 
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I have listed a new property at 10 FOREST DALE Drive East in Barrie. The list price is $499,000 
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I have listed a new property at 1990 WEBSTER Boulevard in Innisfil. The list price is  
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I have listed a new property at 1164 GLENGARRY LANDIN Road South in Springwater. The list price is $1,150,000 
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I have listed a new property at 461 PENETANGUISHENE Road in Oro-Medonte. The list price is $1,100,000 
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I have sold a property at Barrie.
Prime Barrie Location Close To Lake And Downtown With Double Garage And Double Driveway. Private Fenced In Yard. Main Floor Two Piece Bathroom And Main Floor Laundry. Large Eat-In Kitchen. Bright Spacious Great Room With Double Aspect Windows. Finished Basement With Gas Fireplace. Bathroom On Each Level. Luxury Master Bedroom Faces East With Large Bay Window And Seating Area. All Appliances Included. VIDEO TOUR link above.
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