Real Estate Blog - October, 2022

RE/MAX Agents and Brokers Sold on Giving to CMN

RE/MAX has proudly supported Children’s Miracle Network (CMN) and their member hospitals since 1992, raising over $89 million and counting. With donations through the Miracle Home program and fundraising that takes place throughout the year, our affiliates continue to show their generosity. Recently, RE/MAX® affiliates participated in fundraising events at the 2022 Activate Canadian Conference in Quebec City, to raise more than a record-breaking $160,000 for CMN! RE/MAX agents and brokers gave generously through events that included a live auction, Flip for Kids Coin Toss, a 50/50 draw, and the RE/MAX Run for Kids. Proceeds directly supported CMN and its member hospitals. Read on to learn more about how RE/MAX gives to CMN.

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Elements You’ll Want to Consider When Renovating Your Bathroom

Redoing your bathroom can be a challenging, albeit rewarding experience. As with any remodelling job around the home, there are many things to consider beyond your favourite features and finishes—changes that could seem to be a great idea now, but end up affecting your resale value in the future.

Whether you’re looking to modify your powder room, ensuite, half bathroom, or full bathroom, if you’re interested in making common bathroom modifications such as replacing your tub with a shower, or integrating more accessibility into your bathroom, read on to discover some key aspects to consider.

Will common bathroom renovations hurt your home equity?

Clean, updated bathrooms are never a bad idea when trying to appeal…

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How To Remove Cigarette Smell From Your Home

If you have moved into a new home and the previous owners were smokers, you may find that the house needs to eliminate the smell of cigarettes. The goal here is not to mask the smell but to get rid of it. Air fresheners can help for a short time, but they are not a good long-term solution. If you’re wondering how to remove cigarette smell from your home, you’re in luck! There are several things you can try.

How To Remove Cigarette Smell From Your Home

First, air out the house completely. Fresh air is one of the best things you can use to eliminate the overwhelming odour – plus, it’s free! Open all your windows and doors if it is warm enough outside, and place portable fans pointing outward in front of the largest windows.…

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What’s Happening in the Atlantic Canada Housing Market?

The Atlantic Canada housing market has been sizzling since the early days of the coronavirus pandemic. But what differentiates the real estate markets in New Brunswick, Prince Edward Island, Nova Scotia, and Newfoundland and Labrador is how they have held steady, even as the broader Canadian real estate market experiences a correction.

Although there have been forecasts suggesting that the eastern provinces could join the downturn, the numbers so far show that real estate activity in this part of Canada is not imploding.

So, what do the data show? Let’s look at the latest trends in Atlantic Canada.

What’s Happening in the Atlantic Canada Housing Market?

Here is a look at the four major Atlantic Canada real estate…

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Long-Forgotten: 6 Abandoned Places in Canada

There’s something fascinating about abandoned places. A shuttered institution with a haunted past. A long-forgotten resort reclaimed by the wilderness. A once prospering village left to decay—or with buildings perfectly preserved, but empty all the same. We’re often drawn to these places and the stories they tell, regardless of how eerie they may seem. With that in mind, here are the tales of six abandoned (and a little creepy) places in Canada.

1. Kitsault, British Columbia

If you drive 167 kilometres north from Terrace, British Columbia, you’ll find the former mining town of Kitsault. Perched along the coast of the Observatory Inlet, this remote town in northern British Columbia sits on the traditional territories of the Nisga’a First…

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A Spotlight on Newfoundland Real Estate

Since the beginning of the coronavirus pandemic, the Newfoundland and Labrador real estate market has seen the best of times and the most modest of times. In other words, the Atlantic Canada housing market has enjoyed a pandemic boom, but prices have not mirrored what was taking place in British Columbia or Ontario.

Despite climbing interest rates that have ostensibly impacted many major urban centres, small towns and rural communities across the country, Newfoundland and Labrador have held steady. The province and its municipalities have not fallen off a cliff. Instead, despite waning demand, prices have remained intact and affordable.

So, what occurred in the eastern province’s real estate market? Let’s explore the…

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Insight into Newfoundland and Labrador Housing Prices and Market

The Canadian Real Estate Association (CREA) publishes a monthly report on the trends of the latest activities in the Newfoundland and Labrador housing market. There are significant trends in the housing market at the beginning of the last quarter of the year.

First, Newfoundland and Labrador housing prices have appreciated despite other Canadian provinces' sizable drops in property and housing values. The national average for the decline in housing prices is 4.3%. On the flip side, CREA reports that the housing prices in Newfoundland and Labrador have experienced a moderate gain of 8% on a year-on-year comparison. The benchmark price for housing in Newfoundland and Labrador (as of September 2022) is $285,200. 

The price for single-family homes…

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Locking In a Variable Rate Mortgage

When mortgage interest rates were on a downward trend in the early days of the coronavirus pandemic, a variable mortgage rate made sense. With no signs of tightening on the horizon, the housing market boomed at extraordinary levels never seen before.

Now that interest rates are rising as the central bank attempts to rein in out-of-control price inflation, the discussion is how high mortgage rates will go. It is a crucial conversation, since rising rates will increase your monthly mortgage payments. While it’s challenging to forecast just how high mortgage rates will climb, Canada Mortgage and Housing Corporation (CMHC) thinks they will start to stabilize in 2024, which is when some market analysts expect the Canadian real estate market to…

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Should You Get a Home Inspection?

Should I get a home inspection? A careful mind always answers “yes” but under certain market conditions, some homebuyers may be tempted to bypass this critical step in the purchasing process. It could be a competitive seller’s market, or the immediate “feels” you get when you find a home that could be “the one.” From the moment you walked through the front door, you knew it had to be yours. The walk-in closet, open-concept plan and lush backyard are exactly what you’ve been dreaming of, and may be enough to overlook the leaking faucet in the bathroom and the strange smell wafting up from the basement.

Sometimes when viewing a home, it is easy to let staging get the best of us. We get so caught up in the pretty wrapping that we forget…

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What to Keep In Mind When Choosing Your Living Room Aesthetics

Often considered one of the most important spaces in a home, the living room is a place to embody the perfect design that allows you to seamlessly relax, socialize, and enjoy entertainment with family or guests. Whether you enjoy hosting, using the living room as more of a quiet space, or you’re looking for a cozy, comfortable space decked out with the latest smart tech, we’re here to walk you through the process of how to go about choosing design features for your living room. 

Start with functionality

While there’s no such thing as one-size-fits-all when it comes to designing and decorating your living room, there are some key elements of design that can be emphasized once you establish its function.…

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