Your Real Estate Fix of the Week 11.16.17

New From Erie's Edge

This week’s new listings include a space that’s been remodeled and place to build your own model. You can view all of our listings on our website at www.eriesedge.com/for-sale. Click on the images below to view the detailed listings.


Modern updates matched with an awesome country location. What a perfect pair! This charming home sits on a beautiful lot on the edge of Delhi at 7 Scott Street. There’s a good chance that it’s spacious bright design is your match made in heaven.

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Exclusive is the new black! We’re talking about this rare lot at #20-80 New Lakeshore Road in an exclusive gated Port Dover community. With luxurious perks included in the common fee, you can build your dream home on this piece of cloud nine.

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’Tis the season! New listings are impacted by the seasonality of the market. This jolly real estate market is driven by supply and demand.  If you’re thinking of selling, reach out to an Erie’s Edge REALTOR® today at 519-586-7922 to discuss wether the timing is right to sell now, or in the new year.

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Your Real Estate Fix of the Week 11.09.17

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We’re back with your real estate fix! This week’s new listings have some seriously stunning spaces. You can view all of our listings on our website at www.eriesedge.com/for-sale. Click on the images below to view the detailed listings.


We’ve heard that “happiness is the biggest window a house can ever have.” Who ever said this clearly hasn’t seen the remarkable windows at 40 Yin Street in Waterford. This luxurious stone and stucco home will spoil you with natural light, spacious rooms and stunning features. We’re telling you, this whole home is happiness!

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Your family will love calling this spacious (like, 2232 square feet kind of spacious) brick bungalow “home”. This 3 bedroom beauty also has a 3 season sun porch and blank canvas basement ready for your ideas. We’re serious, 19 Yu Boulevard in Waterford has a ton of space for your whole family. Oh, did we mention it’s stunning?

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We can’t get over the beautiful 1.1 acre lot at 605 Charlotteville East Quarter Line Road in Vittoria. The view is incredible and the home has nothing but potential  If you’re ready to renovate or build, there’s no way you’re letting this country paradise go!

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If condo living is your style, you’ll want to give 23 Wren Court in Tillsonburg a chance! The low condo fees, spacious rooms, and convenient location are offering you that low-maintenance condo life you’ve been looking for.

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If you’d like more information on these or any of our listings please leave a comment, or give us a call 519-586-7922.  Happy house hunting!

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The Best Burgers of Norfolk County

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Admit it, you love burgers!  Well, so does the Erie’s Edge team. We truly can’t resist a mouth-watering patty topped with fried, fresh, or classic fixings.  

Here are a few of our team’s favourite burger spots in our very own, Norfolk County (in no particular order)!

Sandbar On The Beach

Sandbar On The Beach is loading up their 100% prime rib patties with all kind’s of toppings, even Peanut butter! I certainly haven’t been br4ave enough to try the P.B. burger yet but I  have been loving the pickled peppers, beer battered jalapenos, and panko friend bacon topping options.  The favourite for one Erie’s Edge team member at Sandbar On The Beach is the French Cowboy Burger.  This burger is rocking some perfectly smoked Montreal brisket and crunchy onion rings. For the record, it’s not all deep fried and meat, meat, meat. The Turkey Point local restaurant also puts an awesome fresh take on their prime rib sandwiches with both the Beach Burger and the Campos Burger. All to be enjoyed with an awesome lakefront view.

211 Main

3Jalapeño Popper Burger, enough said! This “upscale but not uptight” gastropub in Port Dover really nailed it with this one, which was dubbed a favourite burger from an Erie’s Edge team member.  I’m sure you’ve guessed the mix of toppings on this hand made, locally raised, AAA patty; jalapeno’s, mozzarella and cream cheese. 211 Main seems to be really nailing their cheese game when it comes to burgers.  Aside from the popper burger, their menu boasts a double smoked maple bacon cheese burger, a blue haze burger featuring Dover Cheese Shop smoked blue cheese, and a black bean burger topped with goat cheese. Cheese please!

Uncle’s Country Coffee

I was told by another Erie’s Edge team member that a burger from Uncle’s Country Coffee was worth the title of a favourite.  Since this burger mention was located in Port Rowan, just a few minutes from our office, you can’t blame me for ordering one on my next lunch break. “Bacon Cheese Burger with all the fixings, please”. It was simple, but it sure was mighty! The perfectly proportioned typical toppings came stacked on a delicious juicy patty. I am now faced with the burden of resisting the Uncle Burger to curb my beef patty cravings on a regular basis. Thanks Uncle’s!

Willie’s

5If you ask almost anyone from Port Dover, including one of our Erie’s Edge team members, they will undoubtedly tell you that “Willie’s is the best”.  With a humble explanation of “it’s topped with peameal bacon, cheese and their famous homemade Willie’s sauce.” This quarter-pound charbroiled beef burger is equally popular with the summer-time tourists.  Worth a mention is the good vibe, beach side atmosphere that comes with enjoying a famous Willie’s burger in Port Dover!

David’s on Tour

1Another seasonal burger favourite for an Erie’s Edge team member is David’s on Tour located at Burning Kiln Winery.  Though I haven’t tried their burger myself, because I am shamefully addicted to their Walnut Crusted French Brie Chunks which I order at almost every visit, I’ve heard rave burger reviews! They switch it up with a new burger each week, so you never have to choose a single favourite. Ask your server to pair it with a glass of Burning Kiln wine, dine on the patio with a gorgeous view for a nice relaxing dinner. Meet you there?

The Combine

Famously serving… drum roll please… the award winning Combine Burger! Let me get right to it. This Simcoe restaurant is proudly serving fre2sh, locally sourced, home made dishes and they are doing it oh so well. It’s no surprise that their burger, featuring local Jensen’s aged cheddar cheese, was picked as a fave from one of our Erie’s Edge team members.  This beefy patty is also accompanied by smoked bacon, caramelized onions and the Combine’s very own home made grainy mustard mayo and ‘352’ smoked tomato ketchup. It still gets better. Visit The Combine on a Pattyshack Wednesday to get this burger for a great deal!

There you have it. The Erie’s Edge teams favourite Norfolk burgers. We know you have one too. So, what’s your favourite?

Your Real Estate Fix of the Week 10.26.17

New From Erie's Edge

 You’re going to love the cherished details and intimate character in these featured listings! This week’s new listing is accompanied by a couple awesome new prices. You can view all of our listings on our website at www.eriesedge.com/for-sale. Click on the images below to view the detailed listings.


Feel the romance in this charming classic. You’ll feel it in the cozy cared for spaces, and through the beautiful restored details. Warm natural light passing through large windows sets the stage for gleaming hardwood floors and original wood doors and trim. 52 Washington Grand Avenue in Tillsonburg is welcoming you home.

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85 James in Tillsonburg is a certain kind of cozy. The kind with a warm living room that makes you want to wrap yourself in a blanket, sip a hot tea, and dive into a favourite novel. It’s that kind of cozy under the vaulted ceilings, beside the large gas fireplace on the hardwood floors. Looking through the big bright windows and door to the spacious back deck surrounded by beautiful mature trees. You know, that kind of cozy.

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The country roads will take you home. Find your way to this beautiful home at 453 Concession Road 1 in Port Rowan hosting 3+3 bedrooms in it’s spacious interior. Stunning landscaping, a large back deck and a classic front porch create even more living space and of course, a place to enjoy the country views.

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If you’d like more information on these or any of our listings please leave a comment, or give us a call 519-586-7922.  Happy house hunting!

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Get to Know the Home Buyers’ Plan

ANDREW BODRA

Just over a year ago, I made the huge step of purchasing my first home. (Don’t be so impressed, I was almost 30, it was time).

I’m a millennial so, I obviously browsed the internet for all the do’s and don’ts, tips and tricks of buying a home. With the weighing reminder from all the internet “experts” about “the hidden costs of home-ownership” and “the first year is the toughest”, it is no wonder that spending much of my readily available savings on a down payment conjured feelings of pure panic.

I could surely write you a hefty list of advice for purchasing your first home. Tips like, make sure you can get INTERNET at that cute home tucked into the forest of trees in the middle of nowhere (Yes, that happened).  However, I will stick to one important tip that helped to relieve some of the stress that came along with making the largest purchase of my life.

If you are considering buying or building your first home, find out if you qualify for the The Home Buyers’ Plan! If you’re like me, I had heard of the plan (HBP) but really had no idea how it could help me or how to use it.

What is the Home Buyers’ Plan?

The Home Buyers’ plan is an exception to the rules of withdrawing from RRSP’s to use toward the purchase of your home for first time buyers. Under the plan, you are eligible to withdrawal up to $25,000, tax free, from your RRSP.  Which means you don’t need to claim the amount of the withdrawal as income for that year and pay the tax as you would in a typical scenario. I look at it as if I simply loaned myself interest-free money from my RRSP.

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In my situation, when I had found my little piece of (internet-less) paradise, my mortgage agent provided me with the form to complete and submit to my RRSP provider in order to withdrawal the funds under the plan. But, the form is available on canada.ca and is simple to complete.

Good news, no repayment instalment is due until the second year AFTER the date of the withdrawal. Which helps to take some of the load off in that struggling first year of home ownership.  With annual instalments, I have 15 years to repay the borrowed amount back to my RRSP.

So, If you’re in the market for you first home (YAY for you!) have a chat with your RRSP provider and take a look at the requirements and restrictions for the Home Buyers’ Plan. If you have any questions about buying YOUR first home, reach out to us at ray@eriesedge.com or 519-586-7922.

View These Homes Tomorrow!

 

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Your Local Real Estate Team will be busy tomorrow hosting 4 open houses at 4 beautiful properties. Get the details below:


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Step inside a charming Tillsonburg classic at 52 Washington Grand Avenue. Open house on Saturday, October 21 from 12:30 – 2pm.

 


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View a well kept property in a great Tillsonburg neighbourhood at 9 Greeneagle Drive.  Open house on Saturday, October 21 from 12:30 – 2pm.

 


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Take a tour of this Hayhoe built home at 42 McGuire Crescent in Tillsonburg. Open house on Saturday, October 21 from 2:30 – 4pm.

 


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Visit this country located home in Brownsville at 292325 Culloden Line.  Open house on Saturday, October 21 from 2:30 – 4pm.

 


Contact Your Local Real Estate Team for more details at 519-409-7653!

 

 

Why the New Mortgage “Stress Test” Will Stress Homebuyers Out

Why the New Mortgage “Stress Test” Will Stress Homebuyers Out
Huge changes to mortgage rules were announced earlier this week.
 
Yet another “stress test” will be applied to mortgages.  Currently, homebuyers who have carefully saved a downpayment of 20% or more aren’t required to purchase mortgage default insurance. Only mortgage consumers with down payments less than 20% require default insurance which costs anywhere from 2.80% to 4.00% of their mortgage amount.
 
However, new rules on mortgage lending take effect next year and result in a major decrease in affordability for responsible homebuyers.  Uninsured mortgages now require the minimum qualifying rate to be the greater of the five-year benchmark rate published by the Bank of Canada (presently 4.89%) or 2% (200 basis points) above the mortgage holder’s contracted mortgage rate.
 
So, what does this mean?  Let’s take a look at the numbers.
Bank of Canada Five-Year Benchmark Rate
The Bank of Canada’s current five-year benchmark is 4.89% which in this example is greater than the buyer’s mortgage rate plus 200 basis points.
 
A family with an annual income of $50,000, a 20% downpayment at a five-year fixed rate of 2.84% amortized over 25 years can currently purchase a home for $370,547.
 
Under new rules buyers will have to qualify at the five-year benchmark rate of 4.89% meaning that they will only be able to afford $301,095  A difference of $69,452.
2% Above Contracted Rate
 In a case where the mortgage rate, plus the 2% stress test is greater than the The Bank of Canada’s current five-year benchmark rate, here’s how the numbers add up.
 
A family with an annual income of $50,000, a 20% downpayment at a five-year fixed rate of 2.84% amortized over 25 years can currently purchase a home for $360,942.
 
Under new rules buyers will have to qualify at the five-year benchmark rate of 4.89% meaning that they will only be able to afford $295,350.  That’s a difference of $65,592.
If you’re in the market to buy a new home and would like to talk about these new mortgage rules and the current real estate market, we can be contacted at 519.586.7922 or stop by our office at 1019 Bay Street, Port Rowan.  All of our contact information is also available on our website at www.EriesEdge.com

Your Real Estate Fix of the Week 10.19.17

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This week’s new listings are full of style. From country character to modern chic these homes are set to impress!

You can view all of our listings on our website at www.eriesedge.com/for-sale. Click on the images below to view the detailed listings.


The large eat-in kitchen might just be our favourite space in this modern country styled home. Complete with patio doors out to the large deck it is hard to beat. We’re guessing 163839 Brownsville Road in Tillsonburg might just become your favourite space.

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Covered front porch, wide back deck, bright sunroom. Could you have any more places to enjoy the country views from this charming home? Well yes, if you count the over sized garage 2 sheds and 1/2 acre lot. You’ll be surrounded with country views and plenty of space at 2401 Highway 3 in Tillsonburg.

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The epic cathedral ceilings and amazing modern kitchen are turning heads! 42 McGuire Crescent in Tillsonburg is new to the market and has so much to offer (including a walk-in closet and 4 piece ensuite). This beautiful open concept home is dressed with stylish finishes and is ready to show them off.

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Experience the high life! Literally, this spacious penthouse condo unit is home on the highest level. And it comes with high life perks. You know, the luxurious kind. Like underground parking, exercise room, beautiful patio, in-house laundry, convenient location, and the list goes on. Did we forget to mention? You can live this luxury in Tillsonburg at 603-80 Bridge Street.

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If you’d like more information on these or any of our listings please leave a comment, or give us a call 519-586-7922.  Happy house hunting!

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Your Real Estate Fix of the Week 10.12.17

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This weeks listings are all about the vibes. These homes will have you feeling relaxed, comfy and luxurious. Go ahead, feel out these awesome new listings.  You can view all of our listings on our website at  www.eriesedge.com/for-sale. Click on the images below to view the detailed listings.


We are truly loving the outdoor spaces at this brick bungalow! We can overlook the green yard and landscape from the upper back deck, or sit back and relax in the sun room. We’re finding lots to love indoors too, like the gas fireplace and hardwood floors. You’re going to fall in love at 15 Carolyn Boulevard in Simcoe!

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Cozy up in this conveniently located Delhi home! Ceramic tile and oak cabinets fill the spacious eat-in kitchen. Hardwood covers the bright living room making it easy to get comfy at 62 Sovereen Street. Cozy, comfy, sounds like home, doesn’t it?

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Life is easy in Staffordville. It’s easy and it’s bright! This beautiful ranch home is basking in warm, natural light. The sleek design and open concept create a luxurious vibe that’s easy to immerse yourself in. The features and upgrades at 55016 Jackson Line make living, well.. easy!

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If you’d like more information on these or any of our listings please leave a comment, or give us a call 519-586-7922.  Happy house hunting!

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Erie’s Edge Team Members Invest in Professional Development

REALTORS® owe it to their clients to invest in professional development.” (1)

We are proud to announce that two Erie’s Edge Real Estate team members have joined an elite group of real estate professionals who have earned the prestigious Fellowship of the Real Estate Institute (FRI) designation.

Erie’s Edge Broker of Record, Ray Ferris and Broker Daryl Rainey recently achieved this advanced designation which is acknowledged by the real estate community as a demonstration of expertise and integrity.

Successful completion of several courses and comprehensive assignments and exams identifies professionals in the industry who put great value on continuing their education to better serve their clients and lead their teams.

Daryl remarks that “The complexity of the modern real estate market combined with expanded legal obligations means REALTORS® owe it to their clients to invest in professional development.” 

With his clients in mind, Daryl said that “REALTORS® are involved in transactions that have a high degree of emotional and financial risk and reward associated with them. This increases the need and expectation of a highly educated professional.”

Earning this designation, which focuses on high business standards, legal practices and ethical standards was not a requirement for Ray Ferris, but a choice. “As a Broker of Record, I feel it’s my obligation and responsibility to our firm’s salespeople, brokers, and of course our clients, to acquire and maintain practical skills and knowledge to navigate the intricacies of a constantly changing real estate market.” 

In a constantly changing and complex real estate market, continuing education is necessary for REALTORS®. “The extensive educational requirements to become an FRI signify a standard of excellence and accomplishment,” says Ferris.

Congratulations Ray and Daryl!

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