Christina, Author at Nick Fitzgibbon

What are the long term rental trends in Guelph?

Mar 8,2024 | Guelph Living

The real estate market in Guelph, ON is not only bustling with activity in terms of buying and selling homes, but also in the long-term rental sector. With housing prices on the rise, more people are turning to renting as a more affordable and flexible option. This increased demand for rental properties is creating a favourable environment for investors looking to capitalize on the rental market in Guelph.

One noticeable trend in Guelph is that tenants are renting for longer periods of time(if possible). With the rising cost of homeownership and the competitive housing market, many individuals and families are opting to rent for an extended period rather than rush into buying a home. This trend is creating a stable rental market in Guelph, with consistent demand for rental properties.

As a result of the increased demand for long-term rentals, rents in Guelph are also on the rise. Landlords are able to command higher rental rates, making it a lucrative time for investors to enter the rental market. With the potential for strong rental income and a growing pool of tenants looking for quality rental properties, investing in rental properties in Guelph could yield a solid return on investment. With the University of Guelph and soon to add Conestoga Campus downtown Guelph we can expect this demand to just increase over time.

Overall, the long-term rental trends in Guelph point towards a market that is ripe for investment opportunities. With more demand for rental properties, tenants renting for longer periods, and higher rental rates, now is a good time for investors to consider adding rental properties in Guelph to their portfolio. Prime locations for rentals in the City have always been Downtown Guelph, South end and Old University to capture that student market. But with the larger factories in Guelph, like Linmar, really anywhere in the city that is accessible to transit would be considered a great investment for renters, may just have a smaller renter pool compared to the University. By working with a knowledgeable real estate agent who understands the rental market in Guelph, investors can capitalize on the current trends and make informed decisions to maximize their investment potential.

February Market Stats: Spring in Here!

Mar 5,2024 | Buying

 

As the snow melts away and the flowers start to bloom, the real estate market in Guelph, ON is heating up for the spring season. With warmer weather and longer days, potential buyers are eager to find their dream homes in this picturesque city.

Guelph, known for its vibrant community, excellent schools, and beautiful parks, is a highly sought-after place to live. The spring market brings a fresh wave of listings, giving buyers more options to choose from. From cozy bungalows to spacious family homes, there is something for everyone in Guelph.

For sellers, the spring market is the perfect time to showcase their properties. The lush green lawns and blooming gardens make homes look more inviting, attracting potential buyers. With the help of a skilled real estate agent, sellers can maximize their property’s potential and secure a great deal.

Buyers, on the other hand, should act fast in this competitive market. With more buyers looking for homes, properties can sell quickly. Working with a knowledgeable real estate agent is essential to finding the right home in Guelph and navigating the buying process smoothly.

Whether you are looking to buy or sell in Guelph this spring, now is the time to make your move. Don’t miss out on the opportunity to find your perfect home in this charming city. Reach out to a local real estate agent today to get started on your real estate journey in Guelph.

Purchasing out of town? Use your trusted local real estate agent—here’s how

Feb 26,2024 | Buying

Sometimes a move takes you a bit further afield than the streets and town you already know so well.

How do you find someone you can trust to help you find the right home when you haven’t established your own network of connections there yet?

One of the smartest things you can do is reach out to your local REALTOR® first. She or he will vet and search for an agent that would be a good fit, someone who has a proven track record.

Once you are connected with the local expert in the area you are moving to, Nick FitzGibbon (or any agent) can continue to help. He can be involved in the negotiations, review the offer, etc., to ensure that you are being taken care of properly.

“I pride myself on being an expert in the geographical areas that I work in (Guelph, Puslinch, Fergus, Rockwood, KW, Cambridge). In my opinion, there is a huge advantage in being a ‘local’ realtor and focusing my energy and effort on the neighbours and cities I specialize in,” says the REALTOR®.

“When I have trusted clients ask if I can help with their real estate needs in other areas, this is when I look for a strong referral to make sure my clients get this same advantage in their transaction,” he says.

Working with a local REALTOR® to find an out of town one may seem counterintuitive, but it offers several advantages.

First, the local agent understands the market you are moving from in a way the out of town agent never will, including how best to prepare your home to sell.

Second, they have a wide network of buyers who they’ve worked with before, and know other local agents who can help market your home.

Third, they are able to leverage the many professional connections they have built over the years, which extend to multiple cities and markets beyond their primary areas of focus.

For the best REALTORS®, the majority of their business comes from repeat clients and referrals from the people who know and trust them. Repeat clients have had a successful working relationship in the past—and often stay in touch or become friends—while referrals generally only come from the most trusted sources. These personal recommendations are worth their weight in gold, as it means you get the very best advice on both ends of your move.

The benefits to using a local REALTOR® in the market you’re moving to are obvious. They can get you in to see newly listed homes quickly and they have much deeper knowledge about the many factors at play in their area, including neighbourhood specifics, schools, community amenities, environmental issues, local politics, the latest happenings and future plans.

Says FitzGibbon, “Being able to refer my clients to a local expert gets them the best of both worlds. I still get to be a part of their transaction and can ensure they are being well taken care of, while at the same time working with a local realtor who is more familiar with all the finer details of that area and neighbourhood.”

Guelph Housing Market: Annual Report

Feb 6,2024 | Buying

Canada’s housing market began 2023 in a state of rebalance: home sales were down, inventory remained limited, sales prices were softening, and interest rates were on the rise. In March, with inflation showing signs of improvement, the Bank of Canada announced a conditional pause on its series of interest rate hikes, sending a wave of eager buyers to the market. Demand for homes was robust, and within months sales activity had returned to prepandemic levels, leading to an uptick in new listings and a boost in home sales.

By summer, housing supply had fallen to a two-decade low and competition for available homes was fierce, with the national average sales price up more than $100,000 since the beginning of the year, according to the Canadian Real Estate Association. The Bank of Canada resumed its series of rate hikes, raising the benchmark rate to 5%, a 22-year high, pushing many buyers and sellers back to the sidelines.

Affordability challenges led home sales to fall once again, breaking a six-month streak of monthly sales increases, while supply and demand imbalances continued to put upward pressure on sales prices in many areas.

Sales: By year’s end, sales were down 11.2 percent to 2,402 units.
Prices: Home prices were down 7.0 percent to $795,000 for the year. Single Family home prices ended the year down 8.8 percent compared to last year, and Townhouse/Condo home prices were down 4.3 percent.
Listings: Year-over-year, the number of homes available for sale was up 39.3 percent. There were 372 active listings at the end of 2023 compared to 267 listings at the end of 2022. New listings were down 9.1 percent to finish the year at 4,269.
Sales by Price Range: The number of homes sold in the $349,999 and Below price range fell 40 percent to 9 units. Homes sold in the $350,000 to $484,999 price range rose 35.4 percent to 130 units.
List Price Received: Sellers received, on average, 99.7 of their list price at sale, a year-over-year decline of 5.9 percent. If demand shrinks in 2024, list price received at sale could drop as well.

The Bank of Canada has signaled that it may be nearing the end of its rate hiking cycle, with some economists predicting 2024 may bring rate cuts, although it may not be until midyear or later. In the meantime, inventory will remain tight compared to recent years, and affordability challenges will continue to impact home sales, which will help ensure the Canadian rental market remains competitive in the months ahead. As for home prices, opinions are mixed, with some analysts expecting prices will hold steady or continue rising in areas, while others foresee a modest price drop in some markets, at least until interest rates begin to decline.

READ MORE HERE

GuelphandDistrictAssociationofREALTORS

What Does Guelph Have to Offer Career Seekers?

Feb 2,2024 | Guelph Living

When it comes to finding a place to build your career, Guelph, Ontario has much to offer. Known for its strong economy, thriving job market, and high quality of life, Guelph is an attractive destination for career seekers. Here are some of the things that make Guelph an ideal place to start or advance your career.

  1. Diverse Job Opportunities: Guelph boasts a diverse range of industries, including manufacturing, technology, agriculture, and healthcare. This means that career seekers can find opportunities across various sectors, whether they are looking for a job in engineering, finance, marketing, or any other field.
  2. Strong Economic Growth: Guelph has consistently shown strong economic growth over the years, making it an excellent place for career advancement. The city is home to many successful businesses and continues to attract new investments, which translates into a steady stream of job opportunities.
  3. Education and Innovation: Guelph is home to the University of Guelph, which is renowned for its research and innovation. This creates a fertile environment for career seekers who are interested in working in cutting-edge industries and being part of groundbreaking projects.
  4. Work-Life Balance: Guelph is known for its high quality of life, offering a perfect balance between work and leisure. With its beautiful parks, vibrant arts and culture scene, and numerous recreational activities, Guelph provides career seekers with a great place to relax and recharge outside of work.
  5. Strong Community Support: Guelph has a strong sense of community, with a supportive network of organizations and resources available to help career seekers succeed. From networking events to mentorship programs, the community in Guelph is committed to helping professionals thrive in their careers.

In conclusion, Guelph offers an abundance of opportunities and a supportive environment for career seekers. Whether you’re just starting out or looking to advance your career, Guelph’s diverse job market, strong economy, and high quality of life make it an attractive destination. So, if you’re considering a new career move, Guelph is definitely worth exploring.

Condo or Detached: What Makes a Better Investment in Guelph?

Jan 29,2024 | Buying

Investing in real estate is a smart financial move, but when it comes to choosing between a condo or a detached property, the decision can be tough. In the vibrant city of Guelph, Ontario, both options offer unique benefits that make them attractive to investors. To help you make an informed decision, let’s explore what makes a better investment in Guelph: a condo or a detached property.

Condos in Guelph are in high demand, particularly among young professionals and students. With the University of Guelph located in the city, there’s a constant influx of students looking for rental properties. Investing in a condo allows you to tap into this market, as condos are often more affordable and easier to manage than detached properties. Additionally, condos typically offer amenities such as gyms, pools, and concierge services, which can make them more appealing to prospective tenants.

On the other hand, investing in a detached property in Guelph can offer long-term benefits. Guelph is a growing city with a thriving economy, attracting families and individuals looking for more space and privacy. Detached properties tend to appreciate in value over time, making them a solid investment for those looking for long-term capital growth. Furthermore, detached properties offer the opportunity to rent out the entire house, maximizing rental income potential.

Ultimately, the decision between a condo or a detached property in Guelph will depend on your investment goals and preferences. If you’re looking for a more hands-off investment with potential for higher rental income, a condo may be the way to go. However, if you’re willing to take on more responsibility and are seeking long-term appreciation, a detached property might be the better choice.

Regardless of your decision, it’s essential to work with a knowledgeable real estate agent who can guide you through the process and help you find the right investment property in Guelph. With their expertise and market insights, you can make a sound investment that aligns with your financial goals.

In conclusion, both condos and detached properties have their advantages as investment opportunities in Guelph. By carefully considering your investment goals and working with a professional, you can make a smart decision and secure your future in Guelph’s thriving real estate market.

Impressive Ivy Rock Acres is on the market and it’s a must-see

Nov 2,2023 | Buying

October Market Report- Buyers Market

Oct 20,2023 | Market Reports

Buyers Market is NOW

Are you considering purchasing a new home or property? Well, now is the perfect time to do so! The real estate market is currently experiencing a buyer’s market, which means there are more properties available for sale than there are buyers. This creates a unique opportunity for buyers to find their dream home at a great price.

One of the key advantages of a buyer’s market is the abundance of options available. With more properties on the market, buyers have a wider selection to choose from. Whether you’re looking for a spacious family home, a cozy apartment, or a piece of land to build your dream house, you’ll find plenty of options to suit your needs.

Additionally, in a buyer’s market, sellers are more motivated to make a deal. They understand that they are competing with other sellers for buyers’ attention, so they may be more willing to negotiate on the price and terms of the sale. This gives buyers the opportunity to secure a better deal, whether it’s through a lower purchase price, seller concessions, or favourable financing options.

Another advantage of buying in a buyer’s market is the potential for future appreciation. While the current market may be in favour of buyers, over time, the real estate market tends to balance out. By purchasing a property now, you can position yourself for potential appreciation in the future when the market shifts in favor of sellers.

So, if you’ve been considering purchasing real estate, don’t delay! Take advantage of the current buyer’s market and start your search today. With a wide selection, motivated sellers, and the potential for future appreciation, now is the perfect time to make your real estate dreams come true. Happy house hunting!

 

The inside scoop on the current condo market

Oct 19,2023 | Buying

Live in luxury downtown Guelph

Oct 18,2023 | Buying