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Understanding Parkland Dedication Fees in Ontario

In a recent development in the Town of Blue Mountains, Ontario, a couple seeking to sever their land faced an unexpected hurdle: a hefty park dedication fee of $50,000, equivalent to 5% of the land's value. This revelation came as a shock to the applicants, highlighting the significance of understanding all associated fees when dealing with land transactions.

Parkland Dedication, a customary condition for any consent severance in the Town of Blue Mountains, is a vital aspect of land development processes in Ontario. This requirement often entails either transferring land ownership to the municipality or compensating with a cash payment in lieu of land.

For prospective buyers eyeing large properties in Ontario with intentions of severing for future use, comprehensive due diligence is imperative. Understanding the full scope of factors influencing such decisions is essential for informed decision-making.

In the realm of real estate transactions, thorough due diligence involves delving into various aspects beyond mere property boundaries. Whether it's investigating building allowances, sewer systems, water sources, or necessary permits, meticulous examination is crucial.

The regulatory framework guiding such matters in Ontario is provided by The Planning Act, empowering municipalities to finance growth-related expenses for parks and recreational purposes. This ensures that burgeoning communities maintain adequate access to green spaces and recreational amenities.

The saga of the Blue Mountains couple underscores the importance of awareness regarding parkland provisions in Ontario municipalities. By being cognizant of such regulations, individuals involved in property transactions can navigate potential hurdles more effectively and make well-informed decisions.

As property transactions can be complex undertakings, seeking professional assistance and utilizing available resources for understanding local regulations is advisable. Ultimately, being proactive in assessing all pertinent factors ensures smoother transactions and mitigates unforeseen challenges.

To delve deeper into the intricacies of the Blue Mountains saga and gain insights into how Ontario municipalities implement parkland provisions, interested parties are encouraged to explore further through the links provided below. After all, staying informed about regulatory nuances can significantly impact one's property dealings in Ontario. Anyone considering severing their property should consult with their local planning department for precise guidance.

TBM couple face $125,000 in fees to build one house (msn.com)

https://www.ontario.ca/laws/statute/90p13#BK61

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Essential Analytics - January 2024

The Toronto Regional Real Estate Board recently published its market report for January 2024 statistics. Let's take a closer look at some of the key metrics and our expert takeaways you need to know about:

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Newsletter - Winter 2024

Navigating Transparency: Trust in Real Estate ServicesAct (TRESA) and Competing Offers; What Buyers and Sellers Need to Know:

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TRUST IN REAL ESTATE SERVICES (TRESA)

In any real estate transaction, trust is a fundamental aspect of the relationship between the parties involved. Trust is built on transparency, honesty and effective communication. Buyers and sellers need to have confidence in the real estate professionals guiding them through the process. This trust is essential for a successful and smooth transaction.

The Real Estate Council of Ontario (RECO) has developed a revised “Working with a Real Estate Agent” information guide book that we, as agents, are required to walk through, those who are considering our services or assistance, before providing any services or assistance.

The content to the RECO Information Guide in intended to help buyers and sellers make informed decisions.


Here is what is inside:

Working with a Real Estate Agent

Know the Risks of Representing Yourself

Signing a Contract with a Real Estate Brokerage

Understanding Multiple Representation

How to Make a Complaint


Self-Representation in Real Estate:

This is not a new concept. Some individuals choose to represent themselves in real estate transactions which does require knowledge and expertise to navigate any transactions. While this is a valid choice for some, there are significant risks involved which may involve:

Limited Market Access: Real estate agents have access to extensive data bases and networks, enabling us to reach a broader audience for both buyers and sellers.

Property Information: As a benefit to clients, prudent real estate agents often research zoning, permitted property use, parking availability, building permits etc.

Determining Property Value: Real estate agents have an in-depth knowledge of the market, helping buyers and sellers make informed decisions about pricing, property value and market trends.

Negotiating Offers: Real estate agents are trained in negotiating and can assist in getting the best terms for their clients and help navigate competing offer situations.

Preparing Documents: Real estate transactions require a significant amount of paperwork and legal intricacies which real estate agents prepare and help buyers and sellers decide which terms to include to represent their best interests in an offer or agreement of purchase and sale.

The complexities involved make working with a qualified real estate agent a prudent choice for many as a reliable agent can offer expertise and peace of mind throughout the process.

Please click hyperlink to view the RECO Information Guide.

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Essential Analytics - December 2023

The Toronto Regional Real Estate Board recently published its market report for December 2023 stats. Let's take a closer look at some of the key metrics and our expert takeaways you need to know about:

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Essential Analytics - November 2023


The Toronto Regional Real Estate Board has recently published its market report for November 2023. Let's take a closer look at some of the key metrics and our expert takeaways you need to know about:

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Essential Analytics - October 2023

The Toronto Regional Real Estate Board has recently published its market report for October 2023. Let's take a closer look at some of the key metrics and our expert takeaways you need to know about:

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Essential Analytics - September 2023

The Toronto Regional Real Estate Board has recently published its market report for September 2023. Let's take a closer look at some of the key metrics and our expert takeaways you need to know about:

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Summer Market Reflections

We hope that everyone is enjoying a safe and happy summer!

As we soak up the remaining days of summer here are our real estate reflections:

In February 2022, the Bank of Canada, in response to inflation, began raising the bank rate from less than 1% to the current 5%. This interest rate hike spiked fear in the minds of many buyers who retreated to the side-lines in the Spring of 2022. As the buyer market softened, sellers who did not adjust their expectations were dismayed that they had missed the frenzied peak market prices. Some chose not sell and some sold for very reduced prices.

That said, we’ve seen some strong activity in certain pockets this past Spring. Bloor West was hot with new listings attracting multiple offers while other areas struggled. Why was this? Proximity to the subway? Price point? Style of home? It was an interesting phenomenon because, if higher interest rates had sent buyers to the side-lines, why were they buying in certain pockets and not others? It’s difficult to say for sure; however, this is where our market knowledge benefits both buyers and sellers. We helped both buyers and sellers achieve their real estate goals by knowing where to look for buying opportunities and knowing how to successfully prepare and market our seller’s homes.

Cottage country real estate has also experienced a change in activity. Buyer competition has cooled dramatically since the pandemic when people were fleeing the city for larger “work from home” spaces. We helped happy clients purchase their dream country farms and waterfront cottages and condos during that time. At the moment cottage country prices have softened and there are good opportunities for buyers seeking recreational properties to buy now during the slower summer market. As local realtors in cottage country, we can help you find the perfect getaway property for your family to enjoy for years to come as well as being a great investment.

So, what’s ahead? There are mixed messages. The signals from the Bank of Canada indicate that, although stubborn inflation is still present, they may not increase interest rates anytime soon; however, there is no guarantee if the economy doesn’t cool itself. The war in Ukraine is still a factor that drives prices, particularly prices associated with food and petroleum products. And, at home in the GTA, there is an unsatisfied demand for housing, particularly affordable housing, which continues to be fuelled by aggressive immigration policies. It’s truly hard to imagine that house prices will not continue to rise over time as the GTA market has historically proven, regardless of occasional downturns.

The only thing we know for sure is that real estate is not an exact science. Every home is unique as is every client who has a unique set of circumstances and the market is continually recalibrating. Dave and I do not have a crystal ball (well, we actually do but, we cannot read the future with it). However, we do watch the market closely and pivot quickly to adapt and advise our clients appropriately in real time.

As Fall approaches, we anticipate an increase in market activity. If you are considering a move this Fall, please give us a call to chat about your real estate objectives. We have recently helped other clients achieve their real estate goals and we would be happy to assist you as well. Please take a moment to review our sales and what our clients are saying about us.

The Fall Home Show at the Enercare Centre is happening September 29 - October 1, 2023. Please reach out if you would like two tickets to the show. 



Sales




Testimonials


The process of selling our 30+ year family home could not have been better managed than in the caring hands of Nancy and Dave. 

Kudos for their efforts in the dead of winter to effectively market and sell our property in a short period of time. 

The transition to condo living began with the discovery of a unique property that fit all of our needs. With Nancy and Dave’s expert sleuthing and quick action we were able to purchase this jewel in record time!

We can’t say enough about their tenacity, empathy and professionalism at all times. It was easy to hand them the reigns with confidence.

Thank you Nancy and Dave!

 B & J Sutherland | Mississauga



This year we purchased our first home with the help of Nancy and Dave and we couldn’t be more happy with their services! They were patient, knowledgeable, and extremely diligent in making sure we found a place that met our needs and budget. We really lucked out and they got us an amazing deal on a place that far exceeded our expectations. Thanks to them we are now living in our wonderful new home and have appreciated their support throughout the entire process.

Rhian & Adam | The Kingsway





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Essential Analytics - August 2023

The Toronto Regional Real Estate Board has recently published its market report for August 2023. Let's take a closer look at some of the key metrics and our expert takeaways you need to know about:

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Essential Analytics - July 2023

The Toronto Regional Real Estate Board has recently published its market report for July 2023. Let's take a closer look at some of the key metrics and our expert takeaways you need to know about:

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Essential Analytics - June 2023

The Toronto Regional Real Estate Board has recently published its market report for June 2023. Let's take a closer look at some of the key metrics and our expert takeaways you need to know about:

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