LRT back to Eastgate Square

If you live east of the Queenston Traffic circle in Hamilton this is great news for you. If you are a transit rider its great news and if you are a home owner in the area, its fabulous news!

The east end of Hamilton has seen a bump in real estate values out performing many areas in the Hamilton area along with the high performing core.

This is primarily due to the new GO station coming to Centennial Parkway near the QEW.  Now that the proposed LRT is to extend to Eastgate Mall again, I feel certain we will see another “bump” in prices in the east end.

Taken from From Hamilton For Transit:

Environment Hamilton and Hamilton 4 Transit welcome Eastgate LRT announcement

Lynda Lukasic from Environment Hamilton and Hamilton 4 Transit, welcomes the news that LRT will be approved to go to Eastgate sooner than originally expected:

“As a resident of the area, I can attest to the community support for LRT to come to Eastgate. This area has one of the largest concentration of transit users in Hamilton, and needs high quality transit options. Eastgate is also a major commercial destination in Hamilton and better transit links will improve the neighbourhood’s economy while protecting its environment. LRT will help to transform Eastgate area into a more walkable neighbourhood, which will improve health and quality of life for all residents.”

The reaction to the extension back to Eastgate is being well received and something I believe is a great move forward.  Being a natural transit hub should actually be more cost effective than creating a hub at the traffic circle.

lrt map

 

Excerpt  article 2011, From Don Campbell, R.E.I.N  Real Estate Investment Network

The City of Hamilton hopes to turn to light rail technology to curb traffic congestion. The announcement of five proposed rapid transit lines in Hamilton lead the REIN team to undertake a research report on the impacted neighbourhoods.

REIN’s detailed research has found that there are three “Tiers of Impact” that will occur in the Hamilton region:

First Tier: Neighbourhoods located near the on and off ramps to the Red Hill Valley Parkway. These include: McQuestern East and West, Barton, Nashdale, Kentley, Glenview East, Corman, Red Hill, King’s Forest and Albion Falls. 

Second Tier: Includes areas that will also be positively impacted by the easier access and traffic flow created by the Highway 8 link to the Red Hill Valley Parkway. This will allow commuters from as far away as Toronto and Oakville to cut key minutes off their drive.

Third Tier: Areas that are within 800 meters of the proposed LRT and GO train stations in Hamilton. These areas will move up to second tier once the official announcements are made as to exact locations, then eventually move to first tier once the actual construction begins. Communities impacted by future LRT lines include: Ainslie Wood, Cootes Paradise, Westdale South, Beasley, Corktown, Kentley, Greenford, Green Acres Park, North Glanford, Ryckmans, Mewburn, Sheldon, Kennedy East, Allison, Greeningdon, Balfour, Bonnington, Yeoville, Rolston, Buchanan, Mohawk, Southam, Centremount, Durand, Corktown, Beasley, Central Hamilton, North End, Ancaster, Mohawk Meadows, Bruleville, Burkholme, northern Crerar, northern Rushdale, Hill Park, Lawfield, Crown Point, northern Homeside, Ancaster, Leckie Park, the Elfrida growth area, Corman, Riverdale, and Winona.

When the LRT stations are completed, communities within an 800-metre radius of these transportation improvements can anticipate a 10%–20% increase in their property values. The largest effect will be felt in older and more established neighbourhoods.

– See more at: http://www.reincanada.com/aboutus/media-news/press-releases/hamiltons-transportation-transformation/#sthash.JMSGkkKc.dpuf

If you’d like to discuss how your home will be impacted in value by the proposed LRT, call or text me at 905-537-6005.

If you would like to discuss the benefits of purchasing a home in this area, contact me.

 

 

 

 

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Why Torontonians Are Moving to Hamilton

At first blush it is all about AFFORDABILITY but delve a little deeper and find out that the THE SECRET IS OUT. Hamilton, Ontario is an awesome place to live, learn, work and play.

Some of the reasons:

Nature and the privilege of being between a great lake and the Niagara Escarpment. Creating the Waterfall Capital of the World. Minutes from rich farm land and Wine Country boasting award winning wines and ice wines.2015-04-17 09.14.30

Communities with pride of ownership, tree lined streets and the sounds of children playing. Family friendly city with many activities, festivals, green-space and bike/walking trails.

Location, Location, Location. Check out this graph and page by Hamilton Economic Development.

Historic Neighbourhoods with a respect for architecture. Developers who have a respect for history.

Bike Sharing program, amazing farmer’s market and the Tiger Cats!

Strong, growing  Arts, Music and Theatre community. Including the renowned Theatre Aquarius.  An amazing entertainment venue that is praised by the artists appearing there for it’s acousti2014-08-08 22.04.12cs and layout – Hamilton Place. Check out the Trip Advisor reviews.2015-04-29 21.57.03

A growing and improving night life. Diverse culinary options – some truly fabulous restaurants . This list is from 2014.  I could add some to that list including Lake Road on James North. Full disclosure, my children work there.  Contact me and ask me about it. Food is wonderful.

2016-01-02 20.08.24

Number one employer is the Health Care including education, research and hospitals. Fabulous universities and colleges.  This  page listing the schools says it best.

Innovation and creativity. Known as The AMBITIOUS CITY.  A city of innovators.

I love my city and I would love to talk to you about making a move to Hamilton.

Check out these Hamilton videos, especially love the award winning video “The Ambitious City.  I believe it speaks well to Hamilton’s Heart and grit.

 

Contact me to find out more.  I’m here to help!

 

 

 

 

 

Exciting Time In Hamilton, Ontario | As LRT Takes Shape

In the last 10 years I have been advising investment conscious clients to purchase close to the waterfront in Hamilton.  Really anywhere north of King around James Street.  Anywhere walking distance to the now completed new GO Station.

Now that ship has pretty much sailed. We know that the Real Estate market is affected by exterior forces. So where should you buy now in Hamilton if you want to speculate on market increases beyond the standard market increase?  Where will your investment work the best for you?

lrt image
Source: raisethehammer.org

A 15 minute walk to the LRT (Light Rail Transit) stops would be my suggestion or anywhere close to the upcoming GO Station at the end of Centennial Parkway.  (Would have been a great place for the new stadium but lets not rehash that).

Hamilton has been seen as a great place to invest by those with foresight for several years now including  R.E.I.N.

Here is a great image of the proposed stops for the LRT B Line coming soon!

HAMILTON LRT ROUTE

B-LINE | A-LINE | PHASE-2 | GO EXTENSION

If you would like to know more about buying a home in Hamilton, Ontario, contact me because Helping You Is What I Do!

http://www.HamiltonRealEstateSales.com

The Ladies of Royal Lepage State Realty, Brokerage present….

An Information Seminar Geared to Mature Adults coming this Fall!
Keep watching for details – date and time
It will be at Sackville Recreation Centre on the Hamilton Mountain.

Loads of great information including how to stay in your home long term.
Right Sizing  your home.
What services are out there for you and so much more!

SRES  Seniors Real Estate Specialist

Wondering If You Are Over Paying For Your Home in Hamilton, Ontario?

Hamilton’s Real Estate market is healthy and strong and on a huge upturn, just trying to catch up you might say. I see it increasing at least over the next few years.  Having said that, I don’t have a crystal ball…..gosh I wish I did.  There are always unforeseen things that impact our local markets.  Global events, mortgage rule changes, economic events, local events to mention a few.

Let’s talk about spikes.dollarsign

Even in the rising graph there can be spikes.

As a Buyer, I caution you to be careful in a spike.  These can be influenced by the time of year but lately it seems to be more about supply and demand.  Of course the supply and demand issue is partially influenced by time of year.  Lately in Hamilton we have had a shortage of homes to sell to an extreme and I believe we have been in one of those spikes.  Depending on your urgency to buy you may want to adjust your timeline even if just by a few weeks.  Timing is everything.  However, be careful not to wait to long or you can see the prices rise before your very eyes.

If you are a Seller, waiting too long could mean lost dollars if you end up in the fray with other Sellers putting their homes on the market. This could negatively impact the supply and demand from your perspective.  Waiting to get the landscaping done might be a costly decision. Timing IS everything.

Interesting to go back and read this article in The Hamilton Spectator from 2011.  The word definitely has gotten out. I believe Hamilton still has some catching up to do and is thriving and growing. DowntownHamilton

Hamilton is a pretty safe investment and in fact a very smart one in my opinion.

Ask your Hamilton area Real Estate professional for advice on Real Estate decisions in Hamilton.  There are many factors that should be considered as you make decisions regarding your biggest or one of your biggest assets or largest purchases of your life.

Contact me for more information at 905-574-4600, toll free 1-877-574-4601 or direct 905-537-6005.

Expect More, Get More!

The Pitfalls of Under-Pricing Your Property in Hamilton. That’s a switch!!

If you haven’t heard,  Hamilton’s Real Estate market is on FIRE!  There is a strategy of under pricing properties to create an even more frantic bidding war.  What are the pitfalls of under-pricing your property in a market like Hamilton is experiencing now?

Properties are selling for over asking price even if they are priced “bang on” or at least what we perceive to be “bang on”.  So if  the property is under-priced as well, there is a strong possibility that the difference between asking and selling price will be quite large.  At what point does this trigger red flags and an appraisal from the lender or the insurer?  That is the million dollar question.  It depends on the location and the perceived risk that the area poses to the lender or insurer.  I’m sure there is a formula so that when the details are input into the lender’s system, it can either go through without a hitch or trigger that appraisal.danger image

So what if an appraisal is called and the property does not appraise at the value it sold for?  If there is a condition on financing the buyer could walk away from the transaction.  In this case at least you would know within the time allowed for that condition. Usually 3-7 days.  What if the buyer came in without a finance condition because they were in competition and “really wanted the house”?  Here is where is gets tricky.  The Buyer needs to understand that if the property does not appraise at the sold value, they will have to come up with their down-payment as well as bridge the difference between the appraised price and the sold price.  This can be quite significant.

There may be a temptation to accept offers without a financing condition but I would want to be assured that the Buyer is of course pre-qualified, can come up with extra cash if there is a shortfall with the appraisal and has been advised that this is a possibility.  Some times it is better to deal with a short finance condition and make sure you know what to expect as opposed to getting a surprise down the road when you find out the Buyers have been unable to procure financing.  Make sure you and/or your agent ask the questions that need to be answered to protect you.

In my opinion, do not under-price your property to create a crazy bidding war.  Price it right, with a good chance of still creating that bidding war. Without sending up RED FLAGS to the lender because you have a sale price that is way higher than the asking price.

If you have any questions about this or want other Real Estate and Hamilton area information, contact me at 905-574-4600 or email kathydellanebbia@royallepage.ca

Expect More, Get More!

Why There is Such a Shortage Of Inventory in Hamilton. The Perfect Storm!

There an incredible imbalance of buyers and sellers. A huge shortage of homes for sale in Hamilton and area. It is What has caused this PERFECT STORM?

There is the pent-up demand from the Buyers who were taken out of the market due to mortgage rule changes in 2012. Many are coming back into the market now.

There is a huge migration of  buyers from the GTA  due primarily to affordability.  Also the fact that there are more commuting options now and even more in the near future. The construction of a new GO Station with “all day” GO service sure to be a reality in the near future.

Incredible mortgage rates further drive and assist the Buyers make their homeownership dreams come true.

and

Hamilton reinventing itself with a diversified economy and changing job market.  No longer the Steel industry as the primary employer but instead everything to do with the Medical Field, education, research and the world class hospitals.  A booming and  changing demographic with a thriving grassroots Arts/Music/Theatre Community.  Hamilton is no longer a secret and is on the map for many reasons.  A mecca for the outdoor enthusiasts with greenspace, waterfalls, beach front, harbour and amazingly located between a Great Lake and an Escarpment.  Then of course, the people, recognized as a very generous and caring community.

Move up Buyers who are nervous about putting their homes on the market in case they can find anything or who are waiting for the “spring market” to list their homes.

The pressure comes from the bottom, from the First Time Buyers.  Hopefully the “Spring Market” will bring more product on the market to help alleviate some of this pressure.  After all a little more balance is always healthier for everyone.

My best advice….If you are a Seller, LIST your home now and beat the rush of Sellers.  If you are a Buyer without the pressure of time.  Breathe for a few weeks and hopefully you will have more product to pick from soon.

Next I will address the so called benefits and pitfalls of under pricing your home in this type of market.

Visit www.HamiltonRealEstateSales.com for more Hamilton and Real Estate information.