Tuesday 13 January 2015

REAL ESTATE IN 2015

REAL ESTATE IN 2015


by Darrin DeRoches
January 8 - 14, 2015
The experts from around our nation are toting Hamilton as the only market to make gains in real estate this year in all of Canada.  We already have won the best place to invest, and now our residential market is going to rise up even more.  This all begs the questions of why, and when will it stop? The easy answer is because, and never, but let’s go a little deeper than that.

    Hamilton should be at the same level as Oakville. Some might think I am still drunk from New Year’s celebrations but that is where we should be.  If you draw a line from Toronto to Hamilton the exact same property is at least $100 thousand dollars lower in Hamilton.  That means Mississauga is $25 grand less than Toronto — Oakville is $50 grand less — Burlington is $75 grand less.  This is just a broad stoke, and the numbers are a little higher actually, but the point is the line should be straight one down to Burlington, then curve upwards as it hits Hamilton into a hockey stick. (Player of the game in the world cup finals: Darnell Nurse: Hamiltonian) This means we would come in somewhere around Oakville, maybe about Third Line.  This where the city will end up and when it does that is when the increase or correction will stop.

    The reason we should be at that price point for real estate is based on many factors, but asically it is because we are a real city.  Airport, waterways, docks, university, colleges, leading hospitals, Ti–Cats, industries, innovation parks, Go trains and the list goes on.  In relation to Toronto we are the far enough away to be priced lower but big enough of a city to command higher price in real estate.  We are poised to grow into our own and it is happening every day in the city.  There are a reported twenty new residential projects coming downtown, expanding lands at the airport, more and more freight at our ports, new industries, new hospital project, innovation at the universities and colleges.  These all contribute to raising  the demand and value of our real estate. 

    Investment dollars are coming to our city and we need to control the growth and make sure the dollars stay in the community. The inventory is getting a little low — so new home starts and building permits should be on the rise.  You should be investing in your own real estate market because by the end of the year it may be too late and too expensive.  I see the prices rising and some sellers are being unrealistic but are getting their price.  If you presently own property in the city you are making money every minute of every day so it may be time to tap into that money and double down while the market continues to grow into the big hockey stick we deserve in Hamilton.  V

    Darrin DeRoches is a local real estate and mortgage broker. He can be reached to answer questions, comments or stories about real estate experiences through this weekly column at sold@uniquerealty.ca.

CONTINUING CONDO NEWS

CONTINUING CONDO NEWS


by Darrin DeRoches
December 25, 2014 - January 7, 2015
I have to continue on the conversation about condos in Hamilton as this week announcements of two projects brings more information.  The Acclamation condos are being reserved and the sales team believes they will have the majority of them gone before the official launch.  This project is on James Street across from the armories.  It will be 60 units from $249,000 to the $949,000 dollar range.  I stated that a million dollar condo will be sold downtown and maybe this is the one of many to come.  They are taking reservations for units and six sold in the first 48 hours. Most people are not even aware of the launch and it may be sold before the actual launch party.  The questions must be asked — why?

    Is it because of the location? The amenities? The price? The demand? The condos themselves?  Is it a mix of everything? I would say it to be a bit of all of those reasons, but the major reason is that we do not have a ton of condos in the city.  The condo market has been underserved, and it is the time to flood the market with these projects.  I believe the timing and hype is the real reason these projects are finding success, and good for them.  The good people of the Acclamation project have been working on this for years, and I believe they deserve the good fortune.  It is their time and money that should bring them, and the city, a great return on their investment. 

    The second project that has quietly surfaced lately is the Tiffanysquare.ca condo project.  It is located between Tiffany and Bay streets.  It is steps to the new GO train and Pier 4.  The views will be the best the city has to offer and mark my words this is the best project to invest in. It will have a mix of residential and commercial, with views of the city and water.  Anyone that knows how to speculate on real estate knows views and water sell condos.  They are taking registrations right now and you should get on the list.

    Every condo project has its positives and negatives, but you have a great selection of product to choose from today.  The Connaught, The Connelly, Acclamation, Tiffanysquare and the list goes on.  Buy now, and by the time the project is built you can see a small, or big return on your investment.  Buying the right condo will determine the highest return.  The right condo in the right project — that is.  If you are considering on investing, downsizing or just want to get a great condo, the time is now and if you want help on making the right decision on your investment contact us and we can help you make the best return!  Happy Holidays and see you in the New Year!  V

    Darrin DeRoches is a local real estate and mortgage broker. He can be reached to answer questions, comments or stories about real estate experiences through this weekly column at sold@uniquerealty.ca.

DUNDAS: MILLION DOLLAR CONDO


by Darrin DeRoches
December 18 - 24, 2014
I read an article recently that explained the story behind the Dundas District Loft project. It was a glimpse into what a couple of brothers have been building in the city for the last thirty or so years.  Dave and Mike Valvasori have done great projects throughout the years and I personally believe they should be recognized by our community. I doubt they would like a plaque or something but I believe we should organize a seminar on how to invest in Hamilton — lead by Mike and Dave.  You can go back to a time where banks would not lend in downtown Hamilton but they still found a way to make things happen. They are a Hamilton family who better the city by each project they conceive, finance and build in our city. 

    They just finished the Dundas District Loft project which they sold out by themselves with units going from three hundred grand to a million dollars. That is right, there is a million dollar condo sold in Dundas without all the glitz and glamour of out of town brokerages or slick marketing.  That in itself is a testament to the project and Dundas as a whole.  They are about to embark on a new project in the Queen and Bold area on a piece of land I myself had shown “so–called investors”.  My clients, as many others, overlooked this plot of land that could be built into a 12 story building but they are doing nineteen units on four floors.  This will be another home run for these builders — mark my words.  Yes, around the corner are a couple of tough rental towers with issues but the rest of the neighbourhood will make the project shine.

    People get excited about certain projects from “out–of–towner’s” but I believe Hamilton has all the talent we need to develop our city.  The construction companies, realtors, banks, lawyers, architects in this city can take the real estate market into greater heights than some out of towner’s who do not understand what the city needs or wants.  I keep my eye on certain projects that use out–of–towner’s and you can see the sales falter for various reasons. They build the wrong product, or use the wrong brokers, and the sales are reflected in these decisions.  I would like to see someone sell a million dollar condo in downtown Hamilton as they did in Dundas. It will happen, in time, but you have to offer more than a white vanilla box to sell such a unit.

    I personally look to work with someone local before I do anything.  It’s not because I am trying to pander to the community, but rather I like to know the person I am working with, and support my city.  There are a lot of creative people in this city but more importantly there are people of character who can not only deliver, they can knock it out of the park!  V

    Darrin DeRoches is a local real estate and mortgage broker. He can be reached to answer questions, comments or stories about real estate experiences through this weekly column at sold@uniquerealty.ca.