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Sprawling $1.5M Halton Hills estate perfect for entertaining: Home of the Week

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HALTON HILLS

Location: 3 Bridlewood Blvd.,

The elegant living room has a hardwood floor, gas fireplace and adjoining sitting area surrounded by windows.
The elegant living room has a hardwood floor, gas fireplace and adjoining sitting area surrounded by windows.  (Re/Max Real Estate Centre)

Hwy. 7 and 6th Line

Asking price: $1,535,000

Size: about 3,080 sq. ft., plus about 1,540 sq. ft. finished basement

Lot: 229-by-385 feet, three-car attached garage, private drive with parking for up to 13 cars, in-ground pool

Taxes: $7,532 (2018)

Bedrooms: 4

Bathrooms: 5

This sprawling brick-and-stone estate on more than two acres has had extensive upgrades — including two airy sitting rooms, a fully-finished basement with bar and 2,200-sq.-ft. cedar deck with outdoor kitchen — worth over $400,000.

“This home has been perfect as a gathering place for our family and friends — sitting by a bonfire, soaking in the hot tub, swimming in the pool or enjoying an outdoor dinner party,” says homeowner Paul Farrugia who has lived in the home, northwest of Georgetown, for 14 years.

This two-storey, brick-and-stone home is surrounded by a manicured lawn, trees and gardens.
This two-storey, brick-and-stone home is surrounded by a manicured lawn, trees and gardens.  (Re/Max Real Estate Centre)

“There are weekly farmer’s markets in nearby Acton and Georgetown. Halton Hills offers great programs at their recreation centre, and … both towns have good shopping options as well as some really good dining.”

The home has easy access to Hwy. 7 and is less than an hour’s drive to downtown Toronto. It is a few minutes away from a conservation area, close to two golf clubs and two GO train stations.

The U-shaped kitchen has granite counters, a breakfast area and walkouts to the back deck.
The U-shaped kitchen has granite counters, a breakfast area and walkouts to the back deck.  (Re/Max Real Estate Centre)

“Along with its many upgrades, this executive home has been immaculately maintained. With over 3,000 square feet of above-grade, luxury living space and a fully-finished basement, there is ample room to accommodate a large family,” says listing agent Carolyn Ellerton.

“Another highlight of the property is the finished, heated, triple-car garage with an epoxy floor and high lift doors with jack shaft openers,” says Ellerton.

Surrounded by a large, manicured lawn, mature trees and garden beds, this stately home features a high-arched stone entrance with additional exterior stone detail, a winding driveway and long front stone walk with an inlay.

A barbecue, fridge and sink are built into the backyard outdoor kitchen.
A barbecue, fridge and sink are built into the backyard outdoor kitchen.  (Re/Max Real Estate Centre)

Inside the double entry doors, the foyer has a ceramic-tile floor, a double closet and a powder room.

Next to the foyer is the spacious living room with hardwood floor, gas fireplace, picture windows, a built-in TV enclave with cabinetry, and an adjoining, round sitting area surrounded by arched windows.

The dining room has a custom hardwood floor, electric fireplace and adjoining round sitting room.
The dining room has a custom hardwood floor, electric fireplace and adjoining round sitting room.  (Re/Max Real Estate Centre)

On the other side of the foyer is an equally spacious dining room with a custom inlay hardwood floor, an electric fireplace and an adjoining round sitting area surrounded by arched windows.

The large U-shaped kitchen has a ceramic-tile floor, granite counters, stainless steel appliances and a breakfast area with two sets of sliding glass door walkouts to the back deck.

Completing this floor is a laundry room/mud room with a walkout to the backyard and direct access to the attached, heated garage.

Windows surround the roomy, four-piece master ensuite with a large soaker tub.
Windows surround the roomy, four-piece master ensuite with a large soaker tub.  (Re/Max Real Estate Centre)

On the second floor, the master bedroom is equipped with double walk-in closets, a carpeted floor, a picture window and a four-piece ensuite with a large soaker tub surrounded by windows.

A second bedroom features a double closet, carpeted floor and a four-piece ensuite. There are two more bedrooms, both with large closets and broadloom on the floors. Another four-piece main bathroom serves these bedrooms.

The finished lower level has a recreation room with laminate floor, pot lights and a built-in dry bar. There is also a family room with a Berber carpeted floor, plus an exercise room and a two-piece bathroom.

The backyard has a hot tub, in-ground pool, change room, built-in fire pit and two large storage sheds.
The backyard has a hot tub, in-ground pool, change room, built-in fire pit and two large storage sheds.  (Re/Max Real Estate Centre)

The enormous back deck spans the width of the home and includes a hot tub and large outdoor kitchen with a built-in barbecue, and ample counter space and a built-in fridge and sink. The in-ground pool and change room is surrounded by a wooden deck and wrought-iron fencing. The backyard also features a long stone walkway, a built-in fire pit, lots of lawn space, and two large storage sheds.

To have a look at this property contact listing agent Carolyn Ellerton, Re/Max Real Estate Centre Inc., Brokerage, l 519-837-1300; www.getguelph.ca.

Home of the Week is written by freelance contributor Allison Harness, a Toronto-based real estate writer. Although we try to provide the most up-to-date information available, we cannot guarantee features as listed. Please contact the realtor. To make a submission to Home of the Week, email soldhome@rogers.com.

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New pandemic protocols will change Quebec’s real estate business

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Quebec real estate brokers got some good news Monday when COVID-19 restrictions were lifted.

For the husband and wife real estate duo of Daniel Arsenault and Jennifer Smith of Royal Lepage Village in Pointe-Claire, it means they’ll be able to once again visit a potential client at their home, albeit two metres apart.

But it’s not completely business as usual as new pandemic protocols must be observed in the buying and selling of properties.

The traditional practice of holding open houses, in which properties for sale are showcased to the general public, will undergo tweaks.

“For example, if a family of five visits a home, only one person at a time is allowed inside,” Arsenault noted. “Given proper social distancing and limited numbers of people in a house at any time, proper sanitation, we’re pretty well back to business.”

In the new normal, virtual tours, or online visual tours of properties, will likely grow in popularity among both buyers and sellers looking to reduce person-to-person contact.

“We were doing it already, but more people will probably do it (now) is drone photography and 3-D virtual tours and floor plans,” Arsenault said. “That will become more of the norm because we want to make sure the people are qualified before visiting.

“In real estate, as in any sales business, you should qualify to lead. Now it’s much more so the case. We need to qualify that the buyers are financially prepared, that they’ve worked for a bit to decide what locations they want to go to.”

The onus on prospective buyers will be to filter info such as location, proximity to transportation lines and schools.

“So it’s a much more detailed analysis or qualification prior to committing to a visit,” Arsenault said.

Montreal’s red-hot real estate market has chilled like the rest of the economy since the city went into COVID-19 lockdown in mid-March. After 61 consecutive months of increases, the Montreal Census Metropolitan Area reported a 68 per cent decrease in residential sales transactions in April 2020 compared with the year earlier period.

“(The pandemic) is going to affect economy in ways we can’t even imagine,” Arsenault said. “Where there were 10 buyers before, now there might be five, so supply and demand might force prices down a bit.”

Arsenault said homes under $500,000 will likely remain attractive in a sagging economy.

“The low end of the market, in good locations, is insulated from (a downturn) … because if you’re in a bigger house and you need to downsize you’re going to go to the lower end. It’s more frugal.

“On the other hand, houses in a fringe location or are outliers in terms of size … is going to be a challenge. In other words, the house that was harder to sell before will be harder to sell now.”

Arsenault speculates that other factors, such as the type of housing and proximity to others, could affect the real estate market going forward.

“If you’re an elder person and planning to go into a retirement home, you’re holding off for now,” he said. “We have clients who are doing exactly that.”

Arsenault said the Montreal condominium market could also take a hit if buyers start looking for single-family homes with backyards and more space between neighbours.

“If people were on the fence, this will be a catalyst,” he said.

But other factors, such as proximity to medical services, must also be weighed if people move farther away from the city.

“We’re going to see fear of proximity,” Arsenault said. “No matter what the government is telling them, there is going to be a vast portion of the population that is going to be afraid to be around other people.

“Historically, after every major economic crisis, one of the trends was more people moving into smaller properties closer to major cities. So reduce your financial footprint.

“And now we have both happening at the same time. We have the financial crisis but we also have fear of proximity.”

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What Will Happen to the Real Estate Market in Calgary?

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The City of Calgary has been weathering its own storm, long before the COVID-19 public health crisis roared into the spotlight. The city is heavily reliant upon the energy sector, and as a result, the local economy has been suffering from the fallout of sinking oil prices. Investment levels have been weak within the city, and Calgary’s construction sector has been dealing with a downturn of its own.

On the flip side, 2020 brought a promise of change for Calgary. The city’s GDP was expected to expand by 2.4% over the next three years as the energy sector started to show signs of stabilization. There was hope that this economic boost would help to lift demand within the city’s housing market, which has struggled with a surplus of real estate inventory. According to Calgary Real Estate Board (CREB) statistics, there was a year-over-year increase in sales of 4.35% in the first quarter of 2020, setting the Calgary housing market up for the best first quarter in years!

Unsurprisingly, the spread and implications of the COVID-19 crisis has derailed some of this optimism. The Calgary housing market has had to forfeit the gains it had made earlier in the year as many realtors, buyers, and sellers have had no choice but to press pause and stay home. Below, we dive into how the pandemic has impacted the Calgary real estate market, and what we can expect to see in the months to come.

The Impact of COVID-19 on the Calgary Real Estate Market

In early March of 2020, Calgary businesses and residents adjusted to a new normal amid social distancing measures to contain the spread of the COVID-19. While the real estate industry, deemed an essential service, was continuing to operate, REALTORS® were forced to pivot, forgoing open houses for virtual home tours and 3D 360-degree imagery.

The full impact of these measures and business closures were most felt by the Calgary economy and real estate market over the month of April. Overall home sales plummeted almost 63%, new listings were down 54%, and the average price of a Calgary home fell more than 8%. These trends were mirrored in the communities surrounding Calgary; over April only 60 sales were reported in Airdrie, and 17 homes were sold in Okotoks.

Amid an environment of business closures, social isolation and depressed consumer confidence, it comes as so surprise that demand within the market is falling, and that sales activity is on the decline. Chief economist for the Calgary Real Estate Board (CREB) Ann-Marie Lurie commented in the CREB market update for April: “Demand is also falling faster than supply. This is keeping the market in buyers’ territory and weighing on prices.”

In April of 2019, the average price of a home was $460,953 – by the end of April 2020, the average home price was sitting at $422,655. The steepest price plunge has been seen in homes priced over $600,000.

Reignited demand in the Calgary market will help to re-balance the market and flatten the curve in terms of dropping real estate prices. The question remains as to when those waiting out the pandemic will feel safe enough, and financially ready to return to the market.

Calgary’s Return to Business-as-Usual

Alberta Premier Jason Kenney has already announced a multi-stage rollout for the province to emerge from its COVID-19 lockdown, with some businesses given the green-light to open as early as May 14th. The success of this plan, Kenny comments, will depend on the capacity of Albertans to continue to heed rules put forth by public health officials, including limiting public gatherings of over 15 people.

With the local economy and daily life within Calgary already on the path to recovery this month, there is much hope that by summer, there will be enough of a climb in demand within the housing market to start reversing some of the dips caused by the public health crisis.

Hope for the Calgary Real Estate Market

Mid-way through April, Prime Minister Justin Trudeau announced that the federal government would be pledging $1.7 billion to clean up orphan wells across the provinces of British Columbia, Alberta, and Saskatchewan. As well as providing environmental relief, this move will bring a much-needed boost to the struggling prairie provinces.

Effective immediately, this incentive will help to provide thousands of jobs within the receiving provinces, also helping large corporations (some of the region’s main employers) avoid bankruptcy in the midst of the public health crisis and the plummeting oil prices. With this investment helping to maintain 5,200 jobs in Alberta, there is optimism that this will also provide a modest boost for real estate within the province’s major markets, including Calgary.

Prior to the outbreak, despite its high unemployment rate, the city of Calgary continued to grow in population, attracting residents from other areas of Alberta. As the city maintains its reputation as one of Canada’s top 10 affordable real estate markets, it will continue to pull homebuyers in, who will be even more keen to take advantage of low prices and low interest rates post-crisis.

Other financial incentives and programs introduced since the onset of COVID-19 will also help to soften the economic blow to homeowners in Calgary. Mortgage deferral programs will also prevent spikes in new listings which can further imbalance the market during periods of high unemployment. With listings declining proportionately with sales over the second quarter, says Lurie, this will make the market less competitive for those selling their homes in Calgary. “Given the nature of this crisis, the situation is evolving rapidly. If additional government policies and programs are enacted, it could help soften the economic burden faced by Albertans”, Lurie says.

While so much uncertainty remains regarding the economic, political, and real estate climate within Calgary, hope and a spirit of resilience remains strong.

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Edmonton’s real estate market looks to bounce back after sales drop due to COVID-19

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As much of Alberta tries to recover from the economic impacts of COVID-19, Edmonton’s real estate sector is among the industries hoping to bounce back.

After facing a major decline in home sales in April, many realtors say they are looking forward to a relaunch of their own.

“Mid-March we got that announcement that everybody needed to stay and work from home and that sort of dropped off, and then we really saw the effects of that impact happening in March in April,” Jennifer Lucas, chair of the Realtors Association of Edmonton, said.

Buyers and sellers started expressing safety fears about touring homes. In the latest report released by the Realtors Association of Edmonton, sales of single-family homes were over 55 per cent in April, compared to the same period last year.

The average sale price of single family homes is $410,200 — a drop of just over 4.14 per cent from last year.

With no exact timeline for a market rebound, there has been some indication that things are changing.

“We’re starting to see now that the government has introduced their phase-in plan for the economy, that people are starting to feel comfortable with the protocols we’ve put in place… they’re starting to get their houses back on the market and we’re getting a lot more calls from buyers to start looking at houses,” Lucas said.

“There’s no question this last week, week-and-a-half we’ve had tons of conversations with buyers and sellers that are definitely looking to get going,” realtor Ryan Boser with Sarasota Realty said.

While many realtors switched to virtual showings and assessments during heightened COVID-19 restrictions, they said making such a large transaction could benefit from a more personal approach.

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