Selling the Rock: Recent Episodes

Lake City Podcast

Sudbury's daily real estate news.

Hey Sudbury, it is getting COLD outside! 🥶

I was driving home from a date night with my wife last night and we had snow pelting the car as we were headed down the highway. With halloween just over a week away, I hope all your little trick-or-treeters are excited and getting their costumes in order. I know I am looking forward to our Halloween fun day with Kivi park happening tomorrow from 11am - 3pm! Again this year we donated 500 pumpkins that will be hid all over the park for families to hunt down and bring home. In addition to that there will be the spooky walk, s’mores station, family photos and so many more activities going on... and if you pop by our tent we’ll have a live carving demonstration, some fun halloween games for the kids and free treats and cotton candy. Its' a great local event to get the kids in the halloween mood! If you do make it out I hope you pop by our tent and say hello! 🎃

On the real estate front we saw sales stay flat with a small drop in the listings! Tune in for this week's crazy transactions and trends!🎧

Housing Market Stats

https://www.crea.ca/housing-market-stats/

Garth Turners the Greatest Fool

https://www.greaterfool.ca/

Hey Sudbury, hope you guys are feeling as stuffed as I am after a full weekend of Turkey and family last week. We are back in the routine with the family this week, all 3 boys are in hockey and keeping us super busy at the rink. After a long hiatus from the rink I put the old goalie skates on to help with my youngest Benjamin this last week. We spent the entire hour working on trying to have 3 year old kids get up on their skates by them selves, and we were somewhat successful. By the end of the hour there were fewer tears and I think I may have even seen a smile. This is one of the best feelings about being in a smaller community when the friends and neighbours all come out with their kids at the local rink, it brings back a familiar feeling, one that we missed out on last year.

On the real estate front we saw an uptick in listings and a slow down in sales for the first time in a long while. I was predicting for the last few weeks that sales would spike as the winter market is around the corner but we weren’t seeing it play out in the stats as we had initially predicted...

Tune in for this week's crazy transactions and trends!🎧

Have questions about the Sudbury real estate market? Let's chat! OH, and follow us on Instagram, Facebook & Youtube at:

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Hey Sudbury,

Happy Thanksgiving weekend! We are wishing everyone a wonderful weekend filled with friends, family and food!

As far as the Sudbury housing market...Tune in to find out this week's most shocking trends and transactions! 🎧

Have questions about the Sudbury real estate market? Let's chat! OH, and follow us on Instagram, Facebook & Youtube at:

https://www.instagram.com/lakecityrealtyltd/

https://www.youtube.com/channel/UCEZuw8g9HAaNEdL2XvheGPw

https://www.facebook.com/LakeCityRealtyLTD

Hey Sudbury,

🎃Can you believe its October 1st today! Fall in Sudbury is one of the most amazing times of the year! Especially when we have crisp sunny fall like we have had in the last few days, not the dreary wet cold fall days that started the changing of the season. It’s shocking that thanksgiving weekend is just a week away. It’s the unofficial closing weekend of all camps in Sudbury, time to take in the dock, the boat and close up camps until next year! It was also a week that saw the first ever ‘National day of Truth and Reconciliation’. It is crazy to think of the devastation that was caused by residential schools, as a parent with young kids myself, I can’t wrap my head around having my kids taken away from me, let alone having decades of it happening over and over again. It was pretty cool to have my middle child (grade one) come home and tell me why they are wearing Orange Shirts and the meaning behind it.

🍁On a national level the liberals are settling into parliament again, and with a lot of the same on the horizon in terms of the makeup of the government, there is some very interesting new housing initiatives that they will be implementing. The highlight being the new savings account for first time home buyers. An account that combines the tax benefits of an RRSP as well as the tax growth of a TFSA. This new account will be especially interesting for parents of young future buyers who I can see leveraging this account in a big way. The governments continued creative fuelling of the housing market is going to continue to push prices up in the short term.

As far as the Sudbury housing market...Tune in to find out this week's most shocking trends and transactions! 🎧

Have questions about the Sudbury real estate market? Let's chat! OH, and follow us on Instagram, Facebook & Youtube at:

https://www.instagram.com/lakecityrealtyltd/

https://www.youtube.com/channel/UCEZuw8g9HAaNEdL2XvheGPw

https://www.facebook.com/LakeCityRealtyLTD

Welcome back to another episode of Selling the Rock - Your local real estate podcast!

🎙Today we have David Kurt and Chad Moore on the mic to dissect the housing promises from Canada's Main Political Parties.

🎧Tune in and listen to our Lake City local realtors POV of each parties' housing plan.

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With only a few more days left to vote, our goal is to provide educational resources to our clients, friends and family so that we all can make an educated decision with our vote.🇨🇦

We encourage everyone to do their part and research each independent party and their platforms before the upcoming election.

Today we are chatting with special guest - Green Party of Canada | Parti vert du Canada Nickel Belt candidate, Craig Gravelle. Every Canadian deserves the opportunity to live in a home they can afford. Tune in to find out how GPC plans to make home buying more achievable for first time buyers! 🏡

Connect with Craig⬇️

Twitter: @CraigGravelleNB

Facebook: CraigGravelleGPC

Email: Craiggravelle32@gmail.com

Educational Resources:

https://newsinteractives.cbc.ca/elect...

https://www.bnnbloomberg.ca/2021-fede...

https://angusreid.org/federal-electio...

https://www.ctvnews.ca/politics/feder...

https://www.refinery29.com/en-ca/2021...

🤔This was an interesting week for sales versus new listings. Weekly, we have been seeing more sales than listings, but with this latest drop again in sales and new listings staying flat we are almost on par with sales being equal to new listings, which would bring us more into a balanced market.

📉Despite how slow the week was with only 40 sales, 65% of them were in multiple offers. We have seen bidding wars spread between 50% at a low to a high of 80% (for number of bidding wars in any given week). With these numbers we are in the middle of the range, but it is higher than we have seen in the most recent few weeks, which shows buyers are feeling a bit rushed with the thought of moving in with the snow looming.

🤨The other big surprise this week was the number of total listings, dropping down again, this time into the mid 150’s. The last time we saw listings this low was around April Fools which shows me that we have seen the peak in listing volume that we expect in a spring/summer marketplace. Moving forward we will most likely follow the path we saw over the winter last year of bottoming out just over 100 total listings, as we expect the seasonality to return to the market. What does this mean for buyers? If you are expecting to see a whole bunch of options as you're searching, you will most likely be disappointed. A lack of listings is one of the biggest factors that have led to the increases in housing prices. If the volume continues similar to last year, we could be primed for another bump in average sale price.

💰One of the most frustrating thing in this marketplace for me as an agent is "the underpriced listing". I’m so used to seeing it, we know the listing agents who are consistently guilty of it; and sure it may work as a strategy for their sellers, so all the power to them, but when we are shopping with buyers there is nothing more frustrating. Just this morning I am touring a first time buyer around a few homes in a first time buyer price range. There’s a new place that just hit the market, photos look amazing, cute as a button and the price is super reasonable! After walking thru the home, I was honest with her that I believe the place will sell at least 100k above where it's listed at, and in all reality probably closer to 120k above the asking price! The frustration lies in the fact that there are already limited homes to see in her budget, and the one that she gets her hopes up for most is the most unrealistic that will be an option in her price range. This is what gets people upset with Realtors and the housing market in general. Again, I understand this is a strategy that can work out best for sellers, as it sparks chaos and may result in people paying more than they would have rationally paid for the place. But this is the reason people hate Realtors.

❄️Where does the market go from here? We see the slow down is happening with market activity. It's playing out week to week with the fewer sales and even reduced listings. I’ve talked about it a few times in the past, about how the listings will see an uptick as we have a last push before the winter market; but even with that we won’t see a return to the chaos of the spring market. The big unknown in the market may be attached to the upcoming election just 10 days away. Each parties platform is unique and has a way of shaping some changes in the housing market; mostly in a positive way for investors and buyers. Politicians are meandering to the public, that is looking to make it easier to jump in the housing market. This at the expense of longer amortizations, artificial interest rates and government incentives. This is a great thing in the short term, but can have some negative effects in the long term if people are taking on more debt than what is reasonable.

Hey Sudbury!

We are a few days away from the start of the school year. The thought of kids going back to in class learning is extremely exciting, especially in our house with the idea of all 3 kids going to school for the first time! At the same time we are inching our way towards another federal election, one with housing taking front and centre; with houses increasing like crazy since the last time we elected Trudeau into office, the nations debt increasing to all time highs, and people working from home; housing could be the number one issue on peoples minds going into this election.

Tune in for this week's most shocking trends and transactions!🎧

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Happy Friday Sudbury & welcome back to another episode of Selling the Rock, your local real estate podcast!

🏡In the full swing of the summer market, we are seeing sales continue to tick up while listings continue to tick down. This is putting more pressure on the supply of housing market and continuing to shift the market in favour of sellers.

⬇️It is really surprising to look at how low the conditional deals are this week. I don’t know if it is just a general drop off in market activity as a whole, but there is a trend with this number dropping every week. As a reminder the number of conditional deals is a snap shot in time to where the market is at with activity. Seeing us get down to 11 this week is the lowest number we’e seen since February!

💰The big shock this week for myself is the drop in total listings available. A few weeks ago we dipped from the 230’s to a low of 179 and then ticked back up to just around 200 listings. But this week we dropped again to 180. Thats a big decrease especially in just 7 days. The main reason for this is the spread of new sales versus new listings resulting in fewer ‘new’ red dots on your realtor.ca app.

🏷The mass buyers who are sitting on the sidelines are ready to jump when the right opportunity comes up was very clear in the Valley this week. I showed one property that was an older but updated bungalow but the kicker here was the detached garage was nicer than most peoples homes. It was recently built with oversized ceilings, a hoist, gas heat, all it was missing was the urinal for a true mans cave. Listed at 399k, the home had 10 offers on it; and when I heard that many buyers lining up I was expecting it to go for a big premium. My analysis had it pegged at the 430-450k range and the right buyer would be willing to pay a premium based on how much they loved that garage. When the dust settled it was just over the 480k mark with an unconditional offer. This was actually encouraging for me. I fully expected a crazy offer of 500k+; especially when I found out that there were double-digit offers on the place. To see an offer where it was accepted, was very encouraging. It shows that a buyer is willing to make a small overpay to get a place they really want, but overall most buyers are educated about values.

🧐Where is the market going from here? I can’t believe I am writing this but the new school year starts in a few days! This year for the first time we will have all 3 of our kids on the school bus! With the change in the calendar we do find there is historically an uptick in activity as people get back into routines around the school year. I expect to find the same this year, and with low inventory my guess is that prices and bidding wars will become a bit more fierce in the next 2 weeks. Following that school year bump in activity we will see the fall market play out with a transaction to a more moderate pace up and until we have the threat of snow and winter coming, buyers hate the idea of moving in the snow and I fully expect to see activity hit a peak again towards the end of the fall to match that timeline.

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Hey Sudbury!👋

I hope you’ve had a great week. I can’t believe that we are winding down on an amazing summer olympics. I truly love the olympics! It's the perfect example of competition, effort and accomplishment, not measured in gold silver and bronze, but in how the athletes measure up to their personal goals. The level of competition is insane and not all athetes that are participating have a chance at a medal, but as a country, I like to celebrate their personal effort rather than the result.

From a real estate sales perspective, we saw a reversal of the slowdown in listings over the last two weeks. This week we increased the supply a ton! As always, tune in for this week's market breakdown!🎧

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Hey Sudbury!👋

Today we have Kate Nelson on the mic with us! She has been with Lake City Realty for four months now and has been an absolute rockstar agent and content creator! P.S if you're looking for real estate content that is educational and entertaining, you need to go follow her on socials!

From a real estate sales perspective, things are still in the slower pace of the summer market. We have seen the shift continue where we are having more sales than listings for the last few weeks. As always, if you want in on the local real estate scoop, TUNE IN! You will be shocked by two specific transactions that happened this week! 😱

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Hey Sudbury!👋

Sorry for the lack of update last week...I took some time with family and it was absolutely amazing. As a Realtor there is often times I feel like I’m constantly connected to my phone and with the support of the team and staff over the last few weeks I have truly been able to enjoy myself and family time.

🎙 Today's episode is EXTRA special because we have our newest team member on board - Ashton Corcoran! P.S if you need advice on rental/investment/BRRRR properties, she's your gal!

📍On a local level, we have the Vale strike which seems like it won’t be a short one. I know this is incredibly hard on a lot of families who have people that are working the picket lines, and I wish them the best. On the flip side, we have another bench mark being reached today as we enter into phase 3; it’s so great to see a lot of my small business friends continue to lift restrictions and get back to a version of ‘the-old’n days’.

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🤔Could this be the end of ‘holding off offers’? I chatted with a few different brokers this week and the comments are all the same that they have had multiple properties that they have held out offers for and on offer date they got crickets. I still believe there is an overwhelming demand for ‘fall-in-love’ properties as opposed to ‘fall-in-like’ properties. We will still see bidding wars, but be cautious about your strategy moving froward.

🤝Multiple offers are a number we’ve been tracking closely, especially with the dip in the last few weeks. We hovered around 80% for the last number of weeks up until last week's drop to just under 70%. We saw another drop this week to the mid 60’s. These numbers don’t mean that the sky is falling for sellers, but they do support my conversation with other office managers this week that bidding wars are becoming fewer.

🏡We’ve had 13 weeks in a row where the # of new listings were larger than the # of sales for the week. Well, this week we reverse the trend! We saw 68 sales which is in-line with the sales we have seen recently, but only 63 new listings. This is the fewest new listings since March! We may have seen the peak of the spring market from a new listings standpoint already.

👇The other trend we have we seen for all of 2021 has been increasing the number of total listings. Well with # sales > # listings this week; we saw a pull back on the total amount of listings available. It was quite a large pull back to going form 236 red dots on realtor.ca to 222!. My predictions way back in the old-days of 6 months ago was that a healthy spring market would see 175-ish total listings. Well, it didn’t take long for us to meet and exceed that number, hitting the peak (at least for now) of 236 just last week. If we continue to see more sales than listings in future weeks we may be seeing total listings pull back towards the 200 range. If this happens, we may be seeing signs of the shift that has been favouring buyers go back to empowering sellers.

🗓Where is the market going from here? For almost 2 years I have been analyzing the stats on a weekly basis and one thing I’ve understood is the market is not efficient. When the stats show the market slowing, the market doesn’t actually slow down for 4+ weeks. Same thing when the market gets more active, it takes a few weeks (or even a few months) for the pendulum to swing and the buyers or sellers to have a true understanding of what is going on in the market. Well the pendulum seems like it could be swinging back towards the sellers...just when buyers were only beginning to see that the market shift in their favour. All that being said, we are headed to a slow down; fewer listings will eventually see fewer sales and we’ll return to a market where houses sell in weeks and not hours. How long will the transition take to happen? I think as we are moving towards a fall market we will see this picture come more into focus. This is actually all good news: fewer blind bidding wars, buyers being able to take their time to make decisions and get offers accepted with those ‘home-inspection’ conditions that seem like a distant memory.

🎈Wish David a Happy Birthday!

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💰Sales are up this week with a pretty big jump (from 61 to 70); but listings are up too (77 to 84). At 84 listings, we almost hit the peak we have seen over the last year and a half for new listings in one week... that’s a lot of new red dots on relator.ca!

🗓Pending deals took a pretty big dip this week. Going back to the mid-teens is some of the lowest numbers we have seen since February! A reminder that pending deals are a snap shot in time as to how active the market place is. Seeing this, we could be preparing for a shift in the market.

🏡Again the biggest number we are focusing in on is total listings. It seems to be the theme for the last few weeks. We almost hit 230 listings available in Sudbury this week! It was only in March that we were in the 130’s and now we have added another hundred listings in addition to what was there. Not only is the number large; it's also a big increase of almost 20 additional listings (10% more listings this week than last week). We are seeing that spread between new listings versus pending and sold places get bigger and bigger! These are all encouraging signs for buyers in this marketplace.

💎Not only did the million dollar sales continue this week, but we saw the biggest volume week of sales ever in the Sudbury Real Estate Board. Previous to this week, the most expensive house to ever sell in Sudbury happened back in 2016 when the recent seller of the Sudbury Wolves purchased the stunning flip home on Torbay road for 3.2Million. Well, this week we saw the 4Million mark broken not once but twice (one time in Sudbury and one camp in the French). That was couple with 9 total sales that were over 800k; most of these sales all happened on the same day with the same buyers agent too! When you take a look at a snapshot of the top 12 sales this week that totals almost 15Million Dollars worth of real estate that sold in the City (and that would hit 20Million if you add in the numbers from French River too). The rumour mills are churning in Sudbury as to where the money is coming from; but from what I hear it's nice to have a local resident hit the lottery big time and scoop up some local real estate for themselves and their family.

🤔Where is the market going? We are seeing two stories continue to play out. This week marks the largest sales volume of real estate ever to happen in Sudbury; without a doubt its probably 3 or 4X an average week of sales. All the while, we are seeing more listings and fewer pending, which, if we are to make inferences from the numbers we should see a slow down in the market place happening. What is underlying this is that fact that buyers are in a strong position to jump on places they really want, and aren’t afraid to write massive offers to get them. While at the same time, not every house is selling, and come offer night a lot of properties find themselves hearing crickets when they are waiting for offers to come in.

Special thanks to all of our listeners! Until next week,

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🚨It's official...picket lines are up at Sudbury's Vale Mines which calls for an emergency podcast!🚨

David Kurt, the broker of record and Chad Moore, a sales representative at Lake City Realty open up the question that's been buzzing around our office...what does the Vale strike mean for Sudbury's real estate market? Tune in to hear their thoughts on where they see things going from a real estate perspective on a short term, medium term and long term basis!

Want to share your insight on how the strike will affect housing prices? We'd love to connect!

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Happy Friday and welcome back to another episode of Selling the Rock, your local real estate podcast!

The big news this week came from the Banks. First of all the earning reports were significantly ahead of where the projections were, with the top 3 banks earning profits in the last 90 days of 9.5 Billion (yup with a B). As much as COVID has wreaked havoc with our day to day lives and the government spending, the banks were prepared for far worse; the amount of money the banks set aside for dealing with 'bad debt' (people not being able to meet their lending) has been slashed by all the banks who have released their numbers. So far, CIBC actually reduced their ‘bad-debt’ allowance by 98%! And the last point of strength for the banks is the introduction of the Stress Test version 2.0 that will be going into effect June 1st, basically making buyers qualify at the minimum qualifying rate (currently 5.25%) or their rate + 2%. I’ve been told anecdotally, that this should reduce home shoppers buying power by approximately 4%; which is pretty negligible in the big picture.

Tune in and listen to this week's 5 biggest takeaways from Sudbury's real estate market activity!🎧

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🏡Sales are flat and listings are up, all good news for buyers who are refreshing their realtor.ca app daily looking to see if any of those new listings check the boxes for their dream home.

👀Not only did we see more listings than sales (quite significantly this week) but the total listings jumped again this week to 205. This is the first week since I’ve tracked the statistics that we have ever hit over 200 listings. Way back at the beginning of the year I predicted a healthy spring market would see listings in the 175 range; this was even more than I could ever have predicted. With the increase in supply, it is a double-edged sword, as the sellers who have finally decided to list to experience ‘the crazy bidding wars’ may find that not every house is experiencing the same attention from buyers.

❤️We talk often about ‘like versus love’ properties and how the ones that feel like they are out of a magazine are getting the most attention from buyers and the highest offers on bidding day. This is a perfect example this week where we saw 3 homes sell for over a Million. 2 of them being waterfront homes, and the third just a really nice house with a pool in Moonglow. It is crazy to think that a couple of years ago we were lucky to see 3 houses in an entire year sell for 1M+ and this week we saw 3 sell, and 5 more listings hit the market with that price point.

🌊Chad on our team does a weekly newsletter called Waterfront Wednesdays; where we recap the waterfront market, review new listings and sales and try to cover something unique to waterfront homes (shore road allowance, lake water systems, SLS zoning, etc…). I remember chatting with Chad a few weeks ago when he was scrambling as there were a total of 3 waterfront homes available in all of Sudbury and the surrounding areas. As I sit here writing this we currently have 28 waterfront homes available; 12 of which have popped up in the last 7 days. I am showing a bunch of them later on this afternoon and the conversation I had with my buyer looking is ‘wow what’s going on with all the waterfront listings’. With May 24 weekend upon us, this weekend we are at the unofficial start of summer and we typically see an increase in waterfront homes as of this weekend. Usually, it's encouraged by couples enjoying friends' homes and camps on the lake, and they get excited about the prospect of enjoying that life for themselves. I remember it happening to my wife and I, 6 years ago, and shortly after we had our dream spot on the lake!

🤔My overall feeling for the marketplace is that there is a disconnect between the numbers and the activity that is happening. We see more listings coming out, which should pump the breaks on the activity and put power back into the hands of the buyers. That doesn’t seem to be happening, I think some of it is the mindset that buyers are in. They wanted to be moving into their home for the Summer, and they were prepared to buy in the spring market. Finding themselves in the heart of the spring market, they are ok to pay the premiums if it means they get the house in the timeline they want. In a typical year, we would find the spring market slow down at the end of June when kids are out of school and parents take their holidays to go camping and travelling. In our second COVID summer, we won’t be doing much travelling, so I don’t see lifestyle causing a slowdown in the market but the continued increase in supply has to work its way into slowing down the market eventually. That being said...don’t expect a drop off a cliff! Expect an easing into a slowdown in the marketplace.

I am so excited to enjoy some family time this weekend. We have golf courses opening back up, sports facilities, and tennis courts too for anyone looking to get their sweat on! I love the May long weekend, and I hope you are enjoying it with your family bubble in a safe and fun way!

📉It was interesting to see the drop in sales from 72 last week to 64 this week. It also translated to a drop in new listings from 85 to 78. We aren’t quite in the ‘unofficial’ spring marketplace (May 24 weekend is typically seen as the start of the spring market). I wonder if we have peaked or will continue to rise as we head towards next week.

📍Having New Listings outpace Sales again this week continues to put power back in the hands of buyers. With these increase in listings continuing we inch our way closer to 200 total listings available in the Sudbury market (up to 190 little red dots on realtor.ca this week versus 188 last week).

🏡Looking through the multiple offers this week, it was interesting to find that there weren’t many that were jaw-dropping 100k+ over the listing price but it seemed like the average $ over listing price was quite a bit higher than what we had seen the last few weeks. Typically we were seeing 25-35k over list price with a few outliers that were 6 figures above. This week we saw a lot of 50k above the asking price. I wonder if the market is just more active or if buyers are paying spring prices to get the properties they really want.

📅I was reflecting on this week's numbers and it seems like we are mirroring the real estate market exactly a year ago where we started to see a comeback in the marketplace after the initial wave and uncertainty of what COVID was going to do to the real estate marketplace. After the initial lockdowns (1 year+ ago) we were in the teen’s or lower # of sales on a weekly basis up until this week in 2020 when sales ticked up into the mid-30s. Today we sit double that this week with almost 2,600 homes sold in the last year. As we prepare to extend the lockdown until early June, it is amazing to reflect on how some things are so different but yet so much is still the same.

🤔In my summary bullet point, I like to predict...where do we go from here? Well, we are one week away from May 24 weekend, and I’ve been wearing shorts the last few days as the weather has hit 20+ and sunny constantly. The number of listings has slowed as we inch our way closer to 200 available homes in Sudbury, which gives buyers selection while at the same time the marketplace remains extremely strong. Prices seem to continue to be strong, although the growth rate seems to have slowed compared to what it was a few months ago. I think we are seeing the levelling off of that growth, which is spurred by increased supply and rates which should be on the rise in the near future. If this happens it would be a very big positive for Sudbury! Prices rise but not as crazy as some of the cities to our South (despite what the trolls on our Facebook Ads may say) we are still affordable as a city here.

One week away from May 24; I hope you guys are able to enjoy yourselves as camps start to open up and we start to enjoy the beautiful Northern Ontario Summer! That's dips in the lake, boat rides, and bonfires! I couldn’t picture a better way to socially distance than that!

Until Next Week Sudbury!

Welcome back to another episode of Selling the Rock, your local real estate podcast!

🏡We have seen it with a few listings on our team in the last few weeks, where we have held off for offer dates and no offers come forward. With the massive increase in listings we have seen over the last few weeks (going from 110 to 188 total listings available) the buyers remain very picky and selective with the thought that there will be more homes available next week.

📈Sales dropped a bit over last week (from 77 to 72) while listing increased slightly (from 82 to 85). This is a continuation of listings outpacing sales, which means more listings available on the market. This week, the jump was marginal (from 186 total listings to 188) but none the less that number is still increasing.

🌟This week we saw 2 different examples of the waterfront dream home and the demand that can come with buyers who are sitting on the fence waiting for a dream property. In the first case, it was a bank repo on the lake in the Southend. It was a truly spectacular listing that just was lacking some finishing touches. Sitting on over an acre with a couple hundred feet of waterfront, and 2000 sqft+ all brick bungalow, it was listed for the high 700’s and went just under 1.2M. The second one was a beautifully redone house on the river just East of Sudbury. The listing was so busy from a demand standpoint that they had to change agents' showings to 15-minute time blocks (yes we drove 40min to get a 15 min showing). That one was again listed in the high 700’s and went for just under $1.05M. Clearly, people are willing to spend their COVID savings on enjoying their home in lieu of spending on travel and concerts.

💸With the 2 big sales above in the last week, there was an increase in the multiple offers over the dip we experienced last week. Last week, 39 of the 77 sales were in bidding wars and this week 57 of the 72 sales were in competition. The point to highlight is that it is abnormal to see a massive $ over listing price as the example above, most of the sales that are happening are at listing price or slightly above.

🧐I like to end with a reflection, where does the market go from here?We chatted about this on our team call this morning and I believe we will continue to see more supply of listings and buyers still jumping on places they are in love with and waiting on places that they may only be ‘in like’ with. I think that we will see flatline prices for the next short-medium term range; not that prices are going to decrease, but clearly, there are some people who are paying a premium over where the value is today to get the space they truly want. I think it will continue to get better for buyers in our local marketplace; we have even seen some of our listings get accepted with a home inspection and financing conditions. We even saw an offer accepted with the condition of selling someone's home this week!

We are only a few short weeks away until the May 24 weekend; which in the North is unofficially the start of summer. I have been running a 100-day countdown on Instagram Reels showcasing 100 tips to get your house ready for the market; if you find yourself in that scenario, take a peek on insta and let me know what you think!

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🏡The biggest number that jumps out to me is the total listings available. 10 weeks ago we were hovering around 100 and now we are closing in on 200. Thats a lot of extra dots on realtor.ca for buyers to pick from!

👊The market still is on fire but the # of multiple offers over the last 2 weeks especially has dropped significantly. A few weeks ago we were seeing 80% of deals go in multiple offers and now we are more in line with the 50%. That's a really interesting number and extremely correlated to the increase in listings in my mind.

😍The new listings actually outpaced the sales again this week by a slight amount, this continues to drive up the overall selection and number of listings available; all good things for buyers in this market. Taking a bit of a deeper dive into the numbers and looking specifically at what’s selling, and for the biggest premiums. It's the same thing we have see for months now, it's the magazine worthy, fall in love homes that are getting the biggest premiums.

🤔Where does the market go from here… This has been on my mind a lot over the last few weeks, and I really do have confidence in the market remaining strong, but there are lots of indicators that the market could be shifting away from the chaos that we have seen. Buyers are still motivated, loads of multiple offers, but there are a ton of properties that expect multiple offers that aren’t getting them. I booked showings on 15 places in the last few days and 7 of them were expecting offers and didn’t get them. At the same time every other colleague I have in Southern Ontario is telling me it doesn’t even matter what the place looks like, buyers are lining up on every single property with cash in hand. If the rest of the province continues to boom in prices and we see modest percentage gains; we may look cheap relative to prices as things move into the future.

🥵You want to hear something thats going to really blow you away…TUNE IN!

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🏷Wow, things really got busy versus last week's numbers. We had double the sales from last week; sure last weeks numbers did fall off compared to the previous week's but 70 is crazy! I did a full scan and 70 sales is the second most sales we have seen since I started tracking our numbers in April of last year!

🏡Sure sales were crazy but the spring market actually brought a huge bump in listings this week as well. With 82 new listings this week, we hit the highest number of listings in any 7 day span since I started tracking numbers just over a year ago as well! Despite the chaos of 70 sales, we actually had more listings than sales which allows the market to expand the selection and give buyers more choice this week than there were last week!

⬆️Multiple offers were almost at 90% this week, which is another number that is shocking (even when we consider the trend of the last 6 months). The interesting thing about the multiple offers though is other than the odd outlier the average home selling isn’t going ‘crazy’ with sale price over list price, we are seeing a few instances of the 100k above asking price, but these are few and far between.

👀The number of total listings which we were surprised to see hit 157 last week after trending in the 100-130 range for all of 2021 so far, jumped again this week by another 5%. That means there is 5% more homes for buyers to pick from on the market this week than there were last week!

🗓Despite the snow we had this morning, we can clearly see that the spring market is here in full effect. The volume of sales, new listings and active buyers in the marketplace are pretty incredible, even when we look historically to any of the numbers we saw over the last 12 months. The one interesting note to take is that when we are comparing with numbers for the last 12 months we really didn't have a true spring market in 2020. When COVID first hit the uncertainty was at an all time high and it greatly affected the typical seasonality we see in the market. This is a good sign that even with the shutdown there still remains a vibrant real estate market; now we just need to make sure we are doing our part at avoiding a curfew and stay home unless it's necessary.

Wishing you all the best as we continue to battle these crazy COVID numbers in Sudbury. Do your part to stay home and stay safe and enjoy the last little bit of a chaotic march break.

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Welcome back to another episode of Selling the Rock, your local real estate podcast!

🏷We saw quite the drop in sales this week, however this must be taken with a grain of salt as last week's numbers were some of the highest sales we have seen anytime over the last year +. It looks like the drop could get us more in line with spring market sales for this time of the year.

🏡New listings popped big this week. We had mid-60’s a few times already this year but this is a very healthy thing for the spring market. The selection gives ground to options for buyers which in turn takes a small amount of the wind out of the sails of this chaotic market.

⬆️The biggest shocker was the increase in the number of new listings, where we hit 157 total listings this week. It was a 15% increase week over week and brought us to the highest # of listings we have seen anytime in 2021 (since I’ve been tracking the total market inventory). I made the prediction a few times that a healthy spring market would see 175ish listings and the increase this week has us well on the way to that number.

👀It felt like multiple offers weren’t quite as crazy this week as they were in past weeks. I think the majority of the 28 sales that went into bidding wars were only slightly above the asking price which was a bit of a change. There were a few listings (mostly done by the same team) that had 100K+ over asking price (note asking price and market price are different things)... when a place is underpriced by 100k and sells for 100k it sells where it should!

🗓This is the biggest shift in the market we have seen in months that could put us back into a balanced market territory. One of the key stats that is tracked for determining a ‘buyers market’ is months of inventory (Sales/Total Listings = how long the market would last if you had no more listings come available). This week we see 4.5 weeks of listings which is amazing compared to the last few weeks where we have seen 1 or 1.5 weeks of inventory. Not that I think prices are going to fall but rather this is a healthy sign of the market activity being a bit more reasonable as we head into spring.

Despite the rain in the forecast, it is beautiful in Sudbury! The snow is gone and most of the ice is from all the big lakes around town. I saw people on kayaks in our backyard just this morning! How can you not love Sudbury at this time of the year?

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💰We were impressed with the sales last week, and we surpassed those sales again this week. It's so interesting to see that in a market with # of sales hitting levels hardly seen at any time in 2020; but still we are increasing the # of new listings as new listings are surpassing the sales for the week.

🧐Multiple offers this week were some of the highest levels we have ever seen. 60 out of 68 sales were in a bidding war! That is beyond crazy, that’s almost 90% of deals in a competitive setting.

🌷Despite the cold weather we are experiencing today, we are truly seeing the signs of the beginning spring market. We had almost 80 listings this week! That's the highest listings we have seen in a one week time period for the last 12 months! Lots of sales but even more listings!

🏡This time last year we were just crawling back from the initial shock of COVID shutdowns, and when I look at year-over-year numbers we had 32 sales for the same 7-day span in 2020 versus 68 sales this year.

⚖️The market, despite the chaos, continues to show signs of balancing. The numbers of total listings were almost flat this week but did climb slightly to just under 140 listings. Comparing that to a few weeks ago when we were at 100 listings with starved buyers. I keep repeating that if we can continue to climb listings, even with an increase in sales we will continue to show more balance in the market; and that’s been reinforced by the numbers the last few weeks.

We are a few days away from April and with all the snow almost gone it is an exciting time around Sudbury. I’m so excited for April showers to bring May Flowers. It is a funny feeling seeing all the Facebook posts from one year ago that show how we were trying to cope with the first few weeks of COVID. We had launched a colouring contest for kids staying at home and filmed videos of our staff as we shifted our work settings. It is slightly eerie when we think how short-term our thinking was at that time. Who knows maybe next year I’ll say the same thing about how we thought with the vaccine rollout coming we'd see the light at the end of the tunnel.

Until next week Sudbury!

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From a local real estate perspective...wow, it was an active week for sales. Sales in the last 7 days have only been matched 5 times in the last year! Pending deals continue to rise and new listings dropped from last week.

My 5 takeaways this week are:

💰Sales climbed again this week, pretty significantly over last week too. It was the 5th strongest week of sales we had over the last 12 months!

🏡Despite the big week for sales, we still had more listings than sales this week. The new listings did drop over last week's # of new listings, but still outpacing the sales by a small amount. This continued increase will provide balance in the chaos of the marketplace, as long as we can keep the listing numbers > sales.

🕐The pending deals are back up to levels we saw most of last year. This explains that buyers are able to get deals accepted with conditions (wow not every offer is a cash offer currently) and that the numbers for next week are already showing signs of strength from firm deals. If all the pending deals become firm we are almost at 20 deals already.

🤔Multiple offers were close to 80% again this week. These numbers are off the chart compared to 2020 but it is a small pullback over last week.

🏘I continue to think the market is shifting, and it feels that way. Now the next few months leading us into spring are going to be the indications of whether the market slows or if things continue to be chaotic. We had seen the # of total listings increase significantly over the last few weeks, but this week we levelled off. A healthy spring market would see 200+ listings on the market, and currently, we sit at 134. The biggest question that remains is, will the number of listings climb to 200, or shrink back down to 100?

I hope you and your families are staying safe! For those who have shifted from a parent to an online teacher, I hope your patience is longer than mine. As for how our marketplace will transition into the spring selling season, it feels like we are at a crossroad in terms of what direction the marketplace will go; and the next few weeks will be very telling!

Until next week Sudbury,

Code Grey…Code Grey! Wow, it's been another roller-coaster week, especially in my home and work life. I talked about it in last week's update how we had a scare in my son's class and had to shift to working from home for the week until we had our test results back, pivoting and relying on my team to an unbelievable amount. Well, I had freedom for a total of 4 days until we got a second call from the principal, telling us that my middle son had a case in his class. It felt like groundhog day; I feel like a pro now when it comes to pivoting and shifting up my entire operations of our business. In addition to that, I know those 7 digits on the back of my health card by-heart after logging in every 15 minutes until I got my negative results again this week.

Only one day into freedom and we saw the local numbers go north of 50+, leading to the code grey announcement. Despite my negative test results, we are shifting our operations back to work-from-home. All while we celebrated the 1 year anniversary of the chaos in our lives.

On the financial end of things, interest rates continue to pop, we early-renewed one of our rental property mortgages this week; even with the rate almost 1% higher than what I signed on our principal home just 2 weeks ago. As I’ve mentioned many times in the last updates, the writing is on the wall that rates will only be going up in the near future, not a bad time to lock in over the long term (note that when I talk about increased rates; I’m talking a difference between 1.5% and sub-3% still; which is an incredibly amazing rate for borrowing still).

From a local real estate perspective, it was almost like the spring market is here already! We had an unbelievable amount of sales, but even more listings. It feels like the shift is here where we are going away from listings being sold in mere hours to listings being sold in days. Want the full scoop on Sudbury's real estate market last week? Tune in! 🎧

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What a week Sudbury! Welcome back to another episode of Selling the Rock!

This week is a reverse of last week's high sales and low listings. We had new listings skyrocket and sales fall back to normal levels for the winter market. Was last week just an anomaly? Ultimately, a healthy spring market will have an increase of supply and increase in demand, we’ll have to monitor how these numbers continue to shape up as the snow starts to melt.

It was the % of deals that were in multiple offers that were in crazy territory again this week. We had more than 8 of every 10 sales happen in a bidding war, only one other time in the last year have we seen numbers close to this percentage. Interestingly, we had fewer sales, more listings and more multiple offers all in the same week. It seems like the % of multiple offers is probably a lagging indicator of the overall market and how things are performing on a weekly basis.

The sale that had every real estate agent talking this week was the executive bungalow with a pool in New Sudbury. Listed at 900k, it was premium priced to begin with and featured a fire orange sports car with a 6-figure price tag in the garage with specific notes to the agents showing the property “DO NOT UNDER ANY CIRCUMSTANCE TOUCH THE CAR”). Only 2 days after the house hit the market it sold firm; at 327k above the asking price. That's almost equivalent to the average price of a house in Sudbury OVER THE ASKING PRICE! The only conclusion I can make is that the owners fell in love with the house and the car and made them an offer they couldn’t refuse.

The entire market saw a pretty significant increase in homes this week. For the last few months we have been hovering just above the 100 available homes number, and this week we bumped that up to 123. This is the most homes available so far in 2021. It makes sense that we will see an uptick of new homes come available as we get closer to the spring market, but seeing the increase this week is a very big positive sign that there may be some normalcy coming in this chaotic market.

I am hoping that Sudbury can avoid going back into the ‘Red Zone’ this week. Just for my own sanity... it has been so nice over the last 24 hours to be out of my house and back at my office. I understand we need to be safe and take precautions but with more people getting poked with the Vax in Sudbury it seems like we are getting closer to the end instead of getting closer to another mass shut-down. From a real estate perspective, we saw listings slow significantly when people got the stay home order. I have a feeling that will happen again if we are put in another shutdown, and the momentum of listings building up that we saw this week will be erased, bringing us even more chaos as we inch closer to the spring market.

Wow-what a week, it looks like it's supposed to be a beautiful weekend out there; regardless of what zone we find ourselves in later on today, I hope you can get outside with your family and enjoy some beautiful sunshine.

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Welcome back to another episode of Selling the Rock, your Sudbury real estate podcast! 🏡

What a week in Sudbury it's been. Between the blizzards and snow days, we managed to have a busier than anticipated week in Real Estate. In addition to the crazy week of home sales, we have seen the COVID vaccinations locally go into overdrive, turning the Carmichael Arena into one big vaccination site. It looks like there is light at the end of the tunnel with a clear path to picking those arms of those that are excited to be vaccinated, which has given a lot of confidence in the real estate market and is currently pushing interest rates up. I spoke to one mortgage broker that was up until midnight last night locking people in at current rates as he is predicting a .3% bump up in the 5 year fixed rates before next week!

From a local real estate perspective we are seeing sales stay flat this week, and listings slightly up. As we prepare for the spring market the additional listings are welcomed! Want in on this week's 5 biggest takeaways on the real estate market? Tune in! 👂

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Welcome back to another episode of Selling the Rock, YOUR Sudbury real estate podcast! 🏡

Another week has flown by and we find ourselves closer and closer to the spring market. It is going to be very interesting which path the market ultimately takes; will the listings continue to increase and the bidding wars fall-off; or will the spring flowers🌷 bring a new flow of buyers both locally and from out-of-town with house lust and a briefcase full of cash? 💸 Only time will tell! ⏳

Tune in for last week's 5 shocking takeaways on the trends in the marketplace! 🎧

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Is it just me or does the last week feel like we are living in the extreme arctic up here in Sudbury! 🥶 Every morning as I wait for the bus with the kids, the windchill feels like it is -40! I guess have to count ourselves blessed as it's been an amazing winter so far, and with Valentine's Day approaching this weekend, we are almost at the halfway point of February. We are only a few flips of the calendar away from spring showers that will bring beautiful flowers!

It's been an interesting week with the Laurentian University saga continuing to play out. I filmed a video for our new YouTube page (Living in Sudbury), that explains my takes on what exactly happened that made things fall off the rails so quickly, as well as the steps that the University will need to take to right the ship, and of course what it means for the Sudbury Housing market.

On the financial side of things, it seems like every week brings some story from the online world. This week was Elon Musk buying up 1.5Billion (with a B) in Bitcoins, then sending out a tweet that Tesla may start accepting Bitcoins as payment for cars in the future. It was enough buzz to send the Online-Currency 25% higher within minutes, and at the time of writing this sits at 60k+ CDN.

From a local real estate perspective, we are seeing sales actually down this week, and listings slightly up; but the biggest takeaway is the number of total listings available. Tune in for a deep dive into this week's market trends and transactions! 🤯

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Full steam ahead… Sales are up 20% this week over last and listings down. The market feels like someone is putting gasoline on a forest fire. Even in the crazy market, supply gets smaller and demand continues to increase meaning if you're a buyer; things are going to continue to get worse before they get better.

Only 8 of the 41 sales this week sold UNDER the asking price. Yep, you read that right, all the other sales were over asking price, and not just over asking, we saw some huge $ over listing price this week. 80% of the deals were bidding wars this week, which is just beyond crazy. It’s the highest % we have seen since I’ve tracked the number almost a year ago.

We keep thinking that the number of listings is so low that it can only go higher… Well, that’s not happening... at least for the moment. We are down almost another 6% of total listings available in the market this week. I did the math when I took out the new construction from these numbers (which a few of them sold this week, more on that later); and we are still down to 70 total listings in all of Sudbury.

Speaking of new construction - You may remember my take away from a few weeks ago, where I showed some frustration and shock at the MASSIVE increase in prices; yea those ones in Lively. One of the bungalows that was listed just one year ago at 529k and didn’t sell (it increased a few times from 530k, to 540k, then expired at 560k). Well, that one just hit the hot sheets sold firm this week, not just at the 630k new revised sale price but with whatever extras and finishes the buyers asked for it sold firm for 680k. Just a small 150k increase from the advertised price 12 months ago.

It seems more times every week, I get more and more calls from Real Estate Agents driving up from Southern Ontario, calling me in front of a property telling me they have clients in their car and want to get into our listing. With Toronto buyers, come Toronto money and pushing our prices higher and higher. If the trend of buyers switching their home town from the ‘6’ to our local ‘Sudbury 5’; the number of new buyers who are entering the market will continue to increase pushing prices to the extreme.

We are in a wild time in the market. There are 2 outcomes that I can foresee happening. Post-lockdown and the spring-market that is coming will boost listings, giving buyers a few more options and taking some wind from the sails of the crazy market. The second scenario being that Southern buyers continue to see Sudbury as our real estate is on a half-price sale; competing with the locals to find their next home, all the while increasing demand and pushing prices higher. Only time will tell if we choose the red pill or the blue.

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This week saw the everyday trader rise up and ‘take the power back’ against the big corporate hedge funds. All starting in a public chat room on Reddit with the message boards describing the best way to rise up and save a dying video game company. The play to drive the stock price up was in retaliation to larger hedge funds placing massive bets on the stock going down; which would have happened if it wasn’t for the Reddit Keyboard warriors jumping in.

What a week, it seems so 2020/2021 for the internet to rise up and put the screw to the hedge fund managers. It shows the power of an online mob. What jumps out to me is now more than ever is, buying stocks (specifically individual stocks) is truly gambling. Even if you invest with strong fundamentals, it may have nothing to do with the stock price.

What does this have to do with real estate? I think it highlights the fact that even in a marketplace where house prices have skyrocketed, homes are a much safer investment. You can’t live in your stock portfolio but you do need a roof over your head.

On a local level, things aren’t great. It seems like every day brings a new school with a COVID outbreak. In the last 7 days there were 72 new cases; 10 of which are active, 5 in schools, 3 in long-term care homes, and one in a retirement home.

From a real estate perspective, we are seeing sales equal to what they were last week but the biggest shift was the decrease in conditional deals; there was a boost in sales this week by about 20%.

Tune in for this week's 5 biggest takeaways on Sudbury's marketplace! 🎧

Like, share, comment or message us! We'd love to know what your thoughts are! 💡

We are 2 weeks into the shutdown, and in a best case scenario, we are sitting with 3 weeks left. I find myself wondering what it was like to be able to go into a hardware store and pick out my own lumber or paint. With a lot of sellers delaying any thought of getting their home on the market until after the most recent shutdown, things are likely going to get worse for buyers in the market before they get better. 😓

Tune in to find out what you need to know if you are thinking about buying or selling in this crazy marketplace! 🎧

Welcome back to another episode of Selling the Rock - Your local real estate podcast!

We are 2 weeks into 2021 and the wild ride that 2020 took us on seems to be continuing. The entire province is under a complete shut down (minus, Costco, Walmart, LCBO, Beer Store, Schools, etc…) but hey, I’m not complaining.

In the province, we are seeing cases in the mid-3000’s per day, and the prediction is if we continue with the current rate of the spread in the next 4 weeks we could be seeing 10k cases a day! As I sit here in my office, masked up and a big bottle of sanitizer next to me; I feel alone, with all staff and agents working from their homes. I just hopped off a team zoom call and am having deja-vu of March of 2020 when COVID first began.

From a real estate perspective, we are seeing listings and sales about equal this week but I feel that the numbers don’t do justice to what we are actually experiencing in the market...

Tune in and have a listen to my 5 biggest takeaways on Sudbury's real estate market this week!

Don't forget to like & subscribe! If today's episode stood out to you, let's chat! Send us a message on socials!

Happy Friday!

Wow, here we are 2021! As we turn the page to a brand new year, it's been a crazy first 7 days, especially for our neighbours south of the border. With Trump being removed from office; and his loyalists storming the cabinet; needless to say, it was quite the week.

Here on a local level, we have just recently extended our lockdown, the glimmer of hope is that schools announced that things will be going back to in-class learning for kids as of Monday. Wow, it's been a busy week trying to play parent/teacher to an SK and a grade 2 student who are sitting at an iPad all day long.

From a real estate perspective, I know I’ve taken a few weeks off my weekly update but I hope you and your family had a relaxing holiday. We have started the year with more listings than sales (although there are 6 of the 21 listings that are re-lists of new construction homes), but multiple offers are still a thing that’s stayed strong into 2021!

My 5 takeaways this week are:

Numbers are down across the board, which isn’t surprising at all at this time of the year. What is surprising to me is the new listings that are popping up; we are seeing a lot of them holding off offers. This has been a thing that’s been the norm as we close out 2020, but moving into the new year I thought we would start to see less of that, but it doesn’t appear so.
The number of listings is almost more than I expected for the first week of the year. I am in talks with a lot of sellers who are holding off until around mid-January to get their homes on the market; so to see over 20 listings for the first week of the year is encouraging to the buyers who have been waiting for listings. The tough part is a lot of these listings are still holding off offers, showing that the power still lies with the sellers.
It looks like multiple offers have found their way to carry forward into 2021. Sure, there were only 5 last week, but 5 of 13 total sales is that consistent % that we have seen. Historically, we find that buyers find deals in the first few weeks of January but this year I think the deals will be few and far between. Buyers are still sitting around and ready to pounce on anything that is good value.
I took a quick look at the first week of 2020 vs the first week of 2021 for # of sales, and sure there isn’t a big sample size but we are double what we were last year at this time. This just shows that the pent-up demand still is alive and well in the marketplace.
Tristan and I made our 3 big bold predictions each as part of one of my favourite podcasts we filmed over the break; click this link here to read it for yourself. My predictions for 2021 were by the end of the year we could hit a 400k average price point, the condo market would gain traction in Sudbury and lastly that the generation following Millenials (Gen Z - age 8-23) will play a big role in shaping the future of Sudbury's Real Estate market. Take a listen to the podcast that we did and I think you will see my rationale as to why these buyers will be the next push to lead our real estate marketplace into 2030 and beyond!

I hope you guys had the best holiday possible. I know it was different with family members restricted and virtual visits over zoom. For myself it was truly unbelievable, I felt relaxed calm and was able to take some time to enjoy the family time. Living on the lake, we were able to have the backyard rink set up; and it seems like every lake in Sudbury has a skating path set up with multiple rinks, it is truly amazing to see Sudburians enjoying the outdoors.

Wishing you all the best in the coming year and we’ll chat next week!

Happy Monday and welcome back to another episode of Selling the Rock - your local real estate podcast! If you listened to our last episode, 2020 RECAP Predictions and Prices, you knew today's episode was on queue! David Kurt and Tristan are on the mic to share their three BIG BOLD PREDICTIONS for 2021!

What's going to happen in Sudbury's housing market this year? Tune in to find out what Lake City Realty is manifesting for 2021!

We would love to know what your thoughts are on David and Tristan's big bold predictions for 2021! Your support is so important to us; like, share, write us a review or send us a PM with topics you'd love us to address over the next few episodes of Selling the Rock!

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As it's almost time to say goodbye to 2020, we welcome YOU back to the very last episode of Selling the Rock until the New Year! Tristan and Dave are excited about this one - it's time for the Annual Wrap Up!

Last year, we sat down in December of 2019 and shared our 3 BIG BOLD PREDICTIONS for 2020...today we will be returning to these predictions to see if any of them panned out this year! 👀 We will also be recapping the housing market in general - what happened in the year of 2020. I know many of you have been following David's 5 Bullet Fridays, which provide weekly Sudbury market updates...but man it was truly a crazy year! 🏡

First of all, we are in a Global Pandemic - which has definitely taken us for a shock and threw a curve in our whole year...and as we sit here we are in the midst of another province wide lockdown. It's starting to seem like this isn't going to end; Deja Vu.

All right, Here we go - Join us as we revisit our Big Bold Predictions for 2020! 😂

Dave's Predictions 🔮

2020 would steer away from a balanced marketplace, turning into a seller's market
We would enter the gig economy and would embrace the Airbnb lifestyle
Nickel prices were going to be soaring high

Tristan's Predictions 🔮

The avg. sale price by the end of 2020 would be $320k
2020 would entail a lot less buyers and fewer sales
Fewer sellers in general

True or false? Tune in to find out! 😉

We are wishing you a wonderful New Years Eve! Here's to a safe, happy, healthy year of moving forward!

Happy holidays...and welcome back to another episode of Selling the Rock! This episode is EXTRA special...

It's our 2 year anniversary in the business! It took a lot longer than two years in thought and process to build what we've got here, but we've opened our doors for business just at the end of December in 2018!

Reflecting back on the idea of a brokerage, what was important to me at the time was creating, establishing and growing something from scratch. The idea of building something that my kids could point to one day and say, "Look what Dad did"...the idea of legacy played a huge role in the behind the scenes of what I've done.

2019 was an okay year. Our sales were basically flat year over year. We had some highs...and some lows. I remember reflecting on why our team hadn't grown in size and why our sales were the same year over year. Lake City Realty wasn't growing the way I had imagined. I thought that if I built something, people would just start approaching me saying, "Dave, I'm interested in joining your brokerage." Clearly that wasn't happening. As we rounded out 2019, we really dove into creating content. This podcast, Selling the Rock really fired away!

Shortly into 2020, we found ourselves in a big global pandemic. Everything was closing around us, leaving me with the uncertainty of how we would continue to function, grow and survive. I still remember wondering if I'd be able to sell another home in 2020. The government just announced another round of Province wide shut down...sure it's going to be a little bit less in the North, but it's another two week's where nothing can go on. Rounding into 2021...we have some interesting times ahead.

2020 was also a great year for our business - we grew in sales at about 5% and we did about 165 deals this year...which is fantastic! That's an increase of almost 10% year over year. We doubled the size of our team! The idea that if I built something, 'they' would come turned into more than an idea! Lake City Realty started with myself, Mike, Tristan and my Dad! This year we've had Kelly - my sister, Jennifer Brouillette and Chad Moore join our family!

The Content...we had done some content and started this podcast in November of last year, but the contents been on fire this year! One of my goals was to hire someone focused on content development and a media expert and we were able to find the perfect fit!

Circling back, we wanted to build a real estate brand for the future - we know that consumers are looking for something different in 2030. We don't want to be the Kodaks of the world...I read the other day that Kodak developed the first digital camera 25 years before anybody else had developed one but they didn't put it out in the world because they didn't want to cannibalize their traditional sales. I think with me, I always want to push the boundaries and build the business that's going to succeed in 5, 10, 15, 25 years from now.

So that's a little bit of a summary of what's gone on behind the scenes in 2020. We survived a global pandemic - so far. I can't be more blessed for the team I have around me!

Thank you from the bottom of my heart for listening to my podcast and for the continued support from the community and from family and friends!

Til' Next Time!

Welcome back to another episode of Selling the Rock! We've got David Kurt and Chad Moore on the mic today to chat about the week! From a real estate perspective listings stayed pretty consistent week over week with last week, as we find ourselves in this pre-christmas lul; and sales actually stayed pretty strong outpacing new listings again this week by close to a third.

The listings and sales were about consistent with last week. We had chatted with getting to a point where we would hit the lul as we head into the Holidays and it appears this could be the numbers we are seeing hold as the slow market. If this does hold true, it could be a pretty strong holiday season. Compared to the the activity last year at this time we actually saw 28 sales during this same week 2019; which means we are busier than last years market as well.

The most surpising number this week is the number of active/pending sales. We saw a huge drop last week when we hit just 6 total deals that were pending and this week we launch that number back up to 20. This is a good sign for # of sales as we head into next week. One of the reasons we’ve pointed to the market continuing to be strong is the nicer weather, and despite headed to a snow storm apparently for Saturday; buyers are still seeming to be pounding the pavement looking for that perfect place before Christmas!

The number of multiple offers stayed really consistent this week again with closer to 50% of the sales being close to asking or above asking price. This has continued for the last few weeks, and it is interesting to think that even with the winter market upon us that their are homes that buyers are willing to get into a bidding frenzy over. The other interesting part of this is the value the sellers are putting on ‘cash’ offers.

David was on a zoom meeting with some Realtors® this week and they were discussing the entry level market in Sudbury and the comment was made that soon enough there will be no listings under 300k; especially within the city. As he was preparing to show a buyer this weekend he saw this exact scenario playing out. Typically the discussion goes like this, “we want a house that doesn’t need too much work, we are ok doing cosmetics and we’d prefer to be in town, and no we won’t do a semi-detached”. There are a few listings that are priced just under the 300k but these prices are artificial with the likelihood that they will sell for a good chunk over the 300k price point.

We're having the conversations with people multiple times a day it appears; questioning if this winter dip is the start of a market cool down in general or will prices continue to go up. We don’t have the crystal ball and can’t predict the future. The biggest reasons for prices to continue to be stronger and quite a bit stronger next year are; it doesn’t appear that the supply will massively increase any time soon, rates will be remaining low for the foreseeable future which makes lending cheap, our properties may seem expensive to those who bought 5 or 10 years ago but to those people in Southern Ontario who are looking at coming north to enjoy this work-from-home shift we’ve become accustomed to it looks like our homes are on sale. The reasons that the market may have peaked include; the fact the government has artificially put rates as low as they can get them, they can’t go lower (house prices are typically inversely tied to lending rates), sure there are some buyers coming up from down south, but most of the buyers who wanted to escape their COVID-condos did so at the start of the pandemic, and people who have been financially hurt by COVID have been able to coast with CERB and deferring mortgages, 2021 will be the first time the government may not be there to stop the bleed.

Tune in for the whole week speel and let us know what your thoughts are! Til Next Week!

Welcome back to another episode of Selling the Rock - Your local real estate podcast!

From a local perspective, it was a winning week for 2 nurses who hit the jackpot last week in HSN’s 50/50 draw. The draw hit the biggest prize yet of over $200k. These two young nurses bought a few tickets to celebrate a recent promotion. This should make for a Merry Christmas for their families for sure! On another note, the City is opening up public skating which I know me and my family are excited to get out for. As a COVID-twist, you have to book your session on the rink (which can be done at this link here). I’m excited to build an outdoor rink on the lake again this year for the kids but this should fill the gap until the ice is safe to get that started.

From a real estate perspective, listings continued at extreme lows for the week, which is reasonable given Christmas is around the corner. While sales dropped from last week they still outpaced new listings by quite a bit.

Want the insider scoop on this week's 5 biggest takeaways as we enter the December market? TUNE IN!

Happy Friday and welcome back to another episode of Selling the Rock, your local real estate podcast! Today we have David Kurt and Chad Moore on the mic to chat about this week's 5 biggest takeaways!

The drop off of listings and sales is so predictable for this time of the year. But wow… Just wow… In just one week we went from 43 new listings which was already near the weekly lows for all of 2020; and this week we only were able to manage 27 new homes that became available. This is 1/3rd the number of a busy week in the summer (and even during these busy weeks the buyers were complaining about the lack of available homes).

With the drop in listings; the interesting thing is that sales stayed consistent. This week we saw 43 sales with the weekly average being 44, so right on par with what we would expect. Sales nearly doubled the new listings this week! This is a leading indicator that available selection for buyers will continue to dry up; and if this trend continues, buyers will not appreciate the availability of homes continuing to decrease.

The multiple offers this week are pretty surprising as well. With almost 60% of the deals happening in multiple offers it feels like the active market may never end. My overall feeling for the last few months is that there are not as many first time buyers that are starting to look for homes in our marketplace. In addition to that, the number of buyers who are escaping Southern Ontario seem to have slowed down; especially for those looking for a principal ‘work-from home’ place. We have seen a strong amount of out of town investor buyers who are targeting Sudbury; but we are seeing strength in the Single Family housing market in addition to the multi-family marketplace.

Speaking of the multi-family marketplace; wow, things have been on fire with investment properties lately. This is where we have seen a lot of out of town buyers coming in droves to look at Sudbury as a viable option; compared to the prices they are seeing in Ottawa and the Golden Horseshoe markets down South. Price per units and capitalization rates, two criteria investors use to evaluate properties seem expensive to local investors; compared to what you could get a year ago, but compared to other marketplaces, Sudbury looks like it's on sale.

For the last few months we've made the prediction that the market was slowing; thinking that as we head into the winter market, the buyers would choose to put their search on hold while those sellers that felt motivated would be forced to list and keep their home on the market in the holiday season. This has been partially true; the drop in listings reflects motivated sellers who will list, while others are holding off until after the holidays or the spring market. The anomaly thats hard to wrap our heads around is the number of sales that continues to be so strong. If these numbers continue, it almost feels like we are headed to a further price increase; something I didn't think we were going to see until mid-way through next year.

As we count down the days to Christmas, it is clear that this holiday will be one unlike any in recent memory. The family around the table will be much smaller in numbers, but ideally that’s what’s going to be required to get back to some version of normal in 2021. I remember almost a year ago at the on-set of the COVID shutdown projecting out how long this would last, thinking it was days or weeks and things would be back to normal. We are approaching a year, and there is a faint hope that 2021 may bring more optimism with a 3rd vaccine being discovered; but it still will remain some interesting times as we try to roll back to some version of the ‘olden days’ pre masks and social distancing.

Stay safe!

Welcome back to another episode of Selling the Rock! David Kurt, here on the mic, to share my FIVE biggest takeaways on this week's real estate market activity in Sudbury!

As every day goes by, it seems like we are getting closer and closer to a second lockdown. I always try to be the eternal optimist, but the cases seem to be approaching staggering levels; for the second time. It couldn’t be more timely that Phizer seems to be fast-tracking their version of the antidote, although rollout is still months if not a year+ ahead. I read something from Dr. Fauci out of the US that if we listen to the scientists and follow their recommendations we could be starting to go mask free around this time next year (assuming the vaccine rollout goes as planned as well).

From a local level, it's hunting season, which usually means things slow to a crawl in our market as people head to Manitoulin to get their hunting fix. We just got news yesterday that tragedy has struck the police force on the island with Constable Marc Hovingh being shot and killed in a dispute with a trespasser on private property. I have so many friends who are in the policing field and it seems like such a common job, but the risks that are tied to simply going in to work every day can be shockingly scary. I understand he has kids and a family and my thoughts go out to all the family and police who put their lives at risk every day.

On a positive note, we at Lake City have begun our 12 days of Local Businesses as we approach the Christmas season. We are featuring local businesses 2x/week, showcasing popular gifts and reminding those in a position to support local businesses this holiday season. For every business we feature, we are raffling off a gift card as well... if you share our posts; stay on the lookout for that.

From a real estate perspective sales dropped considerably this week, while listings seem to have levelled off (with more listings than sales/week).

Tune in! 🎧

If you've thought about selling or buying and would like to know more about how your situation looks in this market, I'd love to chat!

Happy Friday everyone and welcome back to your weekly wrap up episode of Selling the Rock!

Wow-what a change from last week, we saw an abundance of sales with hardly any new listings; and this week sales were around the same number but the number of new listings jumped a ton! We had expected the slow down in sales and new listings as we transition into the winter market, but this week was definitely one where there are more homes available to browse on realtor.ca.

The conditional deals were up significantly week-over-week by almost 30%. This is the best snapshot in time with market activity; showing that the buyers are still out there and excited to jump at homes. As mentioned in past weeks, this could be the pre-winter rush that we expect from buyers but it could also just be a sign that the market continues to be strong.

The most surprising number this week… The % of multiple offers. We went back to 3 out of 4 deals seeing multiple offers this week. That's matching a peak we saw only at the busiest time in the marketplace. There were a lot of deals getting done at a lower price point this week, and it makes sense that those price ranges are more active, but an interesting number to see for sure.

Taking the last point a little further, I reviewed the $ figures on the deals this week. Only 2 deals were over a 500k price point (and in both cases just barely over). It is interesting to see the slow down in the upper-end price homes. This points to a more active first-time buyer marketplace; which is interesting to consider.

The big shortage in the marketplace; at least anecdotally, is the turnkey step-up family homes. Looking at the statistics there is actually more listings available now then there was last week (more new listings than sales again this week; albeit slightly compared to last week), but I currently am seeing it with my buyers and chatting with other agents in the office that are seeing the same thing. It's the lack of move-in-ready; with upper end finished homes that are on the market. What has to happen for these homes to come up? The sellers living in them have to be motivated to jump up to the next level of a luxury home or be living in a fully renovated home and be ready to downsize (usually people at this point are in a house that needs updating). I think that these types of homes will continue to see strong prices as the buyers who are looking to buy these are sitting on the sidelines waiting.

It is a bit scary to read the news on the number of cases of COVID this week. It’s in the news that the current projections could hit 6500 cases a day by Christmas if we continue on the same trend lines that we are currently on. It seems like deja-vu when we realize it was almost this time last year when we were first hearing about COVID and this mystery disease. I know a lot of friends with small businesses would be in a tough place if we did have the world close down around them again. With this said, I hope everyone is staying safe and sound, and continue to do whatever we can to manage the spread.

Until next week guys!

Happy Friday and welcome back to another episode of Selling the Rock, your local real estate podcast!

Today is November 6th, Selling the Rock's 1 year anniversary! Last year to the day we recorded our very first episode of this podcast! 🎙 Looking back in our library, it's AMAZING to see that we're just shy of 100 episodes! It's been our goal to connect with you on a local level and provide local content! We've learned A LOT throughout this journey and we only aim to continue to learn and evolve!

it's been the longest Election day in the US that I can ever remember. We are sitting here on day 3 and they are still counting mail-in votes; all the while the Red wave over the US has been turning more and more Blue. I know it doesn’t affect us directly as the neighbour in the upstairs apartment to the US, but it's been entertaining and crazy to see how truly divided the US is at this point 4 years into a Trump presidency and at the worst of a pandemic which numbers are only going up. It is interesting to see how the search for “Moving to Canada” trended 250% higher than normal during the night of the election night.

As of this morning, it appears that Biden has taken the Lead in Georgia by less than 1,000 votes, Trump Leads Pennsylvania by just over 18k and Biden has pulled ahead in Arizona by 47k votes. With margins razor-thin and Trump making speeches that he’s already won the election, it doesn’t look like things are going to get better any time soon.

Back at home, our COVID numbers continue to climb, just yesterday there were 9 new cases in Sudbury, 7 of them were due to close contact. We continue to do much better than cities South of us but with numbers rising it is a matter of trying to go about living our lives by taking precautions that can help reduce the spread. I would hate to see our numbers get so bad we are forced to go back to shutdowns and tighter restrictions.

From a real estate perspective, it was a very interesting week, sales were actually up huge week-over-week with new listings down massive as well. The market feels slower, and pending sales dropped slightly but still a very active week.

Tune in for our 5 biggest takeaways on the week! 🎧

Since this is such a special day for Lake City Realty and Selling the Rock, we would LOVE for you to leave us a review of how Selling the Rock has brought you value! YOUR support means the world to us!

Happy Wednesday Sudbury - and welcome back to another episode of Selling the Rock, your local real estate podcast! 🎙

Today's episode is a special one-on-one with Jennifer Brouillette, the newest addition to our growing Lake City Realty family! Jenn walks us through her journey in real estate, starting out with her first investment property in 2011 to joining the Lake City Realty team.

We are SO excited for you all to get to know her, SO TUNE IN! 👂

She has some awesome content brewing on the horizon, so if you're looking to get into real estate investing, give her a follow or send her a big welcome message!

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Hey Sudbury! David Kurt and Kelly Wilcock here, bringing you this week's wrap up episode of Selling the Rock - Your local real estate podcast!

Brrrr, it’s cold out there! The fall market didn’t last long in Sudbury, and with the deep freeze in full effect it’s not just the temperature that dropped this week, the listings and sales followed suit. From an economic standpoint, it was an interesting week for the Bank Of Canada. They kept the rates unchanged (which was fully expected); but, they made it clear that rates will not be going up until at least 2023. They are currently spending billions a week on buying up bonds to artificially continue low-interest rates, and the head of the BofC actually revealed, “It means that if you’re a household considering making a major purchase you can be confident that interest rates will be low for a long time.” Needless to say, I am confident that they are trying to continue to promote and strengthen the housing market in Canada.

From a real estate perspective, we saw the listings drop like the mercury on the thermometer. We hit the lowest number of new listings since the first few weeks after COVID!

Tune in to listen to our 5 biggest takeaways from the week! 🎧

Wishing you the spookiest of Happy Halloweens and we’ll check in with you next week!

What a week it’s been. From a COVID standpoint, numbers keep rising; which is to be expected after the family gatherings over Thanksgiving weekend (as much as we tried to keep the gatherings to a minimum). I was told that today sparked the first instance of COVID showing up in the high schools with a positive test at Lo-Ellen. As I type this out I am trying to keep my fingers and toes crossed that this doesn’t escalate to what we are seeing in Southern Ontario; and that kids can stay at school which can keep our local economy moving forward.

From a real estate perspective, we saw a reverse in the trend we were becoming accustomed to in past weeks with more sales than new listings for the first time in a few weeks. The other biggest takeaway is the # of multiple offers was down significantly week over week and as a % it was off a cliff.

Tune in and listen to David's 5 biggest takeaways on last week's Sudbury real estate market activity!

HUGE thank you to everyone who came out to Kivi Park on Saturday! What a fun day of spooktacular activities and costumes! Don't forget to post a photo of your carved your pumpkins on social media! If you tag @kivipark and @lakecityrealtyltd - you will be entered into a draw and could win some SUPER AWESOME PRIZES! The winner will be announced on Halloween!!

Til' Next week!

Hey Sudbury!

Welcome back to another episode of Selling the Rock! Today we have both David and Tristan on the mic to give you your weekly market wrap up! From a real estate perspective, we continue the trend of more listings than sales that we’ve seen in the last few weeks (good news for buyers); in addition to that, the stats across the board were down week-over-week compared to the last few weeks and well below the post-covid averages.

My 5 takeaways this week are:

The slowdown continues in the marketplace this week. For the 4th week in a row, we’ve seen more listings hit the market than were sold; which continues to increase the selection for potential buyers.

As a buyer in the recent marketplace; they have come accustomed to sellers ‘holding off offers’ and dealing with a bidding war/multiple offer frenzy come the seller's selected offer date. While multiple offers are still continuing (61% of sales this week were in a bidding war); it seems listing agents are getting more desperate for offers to come to the table on their offer date. Multiple times this week, I showed places that held off offers and the listing agent was calling me on offer date letting me know they have no offers and sellers would love to have one to work with.

Numbers are down across the board this week, in all 3 major categories (New Listings, Sales and Conditional Deals). I’ve chatted about this in past weekly updates but the idea that ‘Winter-is-Coming’ is clearly having the seasonality impact that reduces activity in our local market every year. Sellers signing a 3-month listing now (and the scary thought of signing a 6-month listing for those agents that push that) bring us through Christmas and into 2021! The countdown is on now where we have 5-6 weeks left in this market until we are dealing with showings in the freezing temperatures and snowstorms.

There are currently 10 waterfront homes available in Sudbury’s waterfront Hot-Spot (Southend/Long Lake road area). I reviewed the list prices and 50% of them are priced in the Ultra-Luxury Price Point, starting at 1.5M and going all the way to just under 5M! The other 5 that are on the ‘affordable scale’ include a fixer-upper around the 400k mark, and then jumping to the 700k-ish type of value. There is clearly a grand-divide between average house prices and waterfront home prices in this market; and this seems like something that isn’t going to go away any time soon, this gap in prices will more than likely just continue to increase.

We are currently sitting at 274 active listings in the City of Greater Sudbury. And typically, as we transition from the Summer to Winter market we will see a decrease in the available listings by about 25% (leaving roughly 75% of the number of listings over the winter months). If this trend continues we could easily see our total listings in the range of 200 or so listings available on the market. This would be extreme lows for the Sudbury marketplace, which may mean that the winter market may actually be stronger than we have seen in past years. There are a lot of unknowns as we prepare for the first COVID-winter market, but it's clear that the rest of the province's real estate market continues massive growth year-over-year, and it almost feels like Sudbury numbers are coming up short versus a lot of our Southern Ontario marketplaces. We are typically a few years behind the trends we are seeing in S.Ont. and if the strong price growth continues there, we could be headed towards a strong long-term picture for our local market!

All the best and we’ll check in with you next week!

It was an interesting last 7 days we’ve had! COVID numbers continue to climb in Ontario (to a smaller extent in Sudbury as well); which has led to Ford requesting immediate family only around the Thanksgiving table this year. I have a feeling there may be an abundance of XL Turkeys at the grocery stores this year.

From a real estate perspective, we continue the trend of more listings than sales that we've seen in the last few weeks (good news for buyers)! Week-to-week activity is staying pretty consistent with conditional deals being exactly average for the week as well.

New listings continue to surpass the weekly sales! This is adding more product to the market and should be putting less stress on buyers. The interesting thing is that a lot of buyers are feeling that they may be running out of time to purchase something before the winter is here. This is pushing them to buy now before they are forced to move in a snow storm.
The frustration of listing agents not pricing places correctly was back this week, not with the volume that we have seen in past weeks. The most interesting example of it this week was a big New Sudbury home that felt like a rustic log home complete from Manitoulin Island. It was a large place with an in-ground pool in the backyard to complete the package. This place was listed under 400k and sold for a whopping 115k over list price!
Market activity continues at a constant pace. When watching the trends of conditional deals every week, we see that the number of transactions has stayed very consistent with our weekly snapshot showing 22 pending deals for multiple weeks in a row. We did see these top out at the high 20’s (even reaching 33 deals one week back in July), but the pre-winter market continues to be chugging along at a standard pace.
This week we saw an interesting example where they held off offers on a property in Lively. There was a bit of a fixer-upper property price just above 300k in a good area of Mikkola, and I actually thought it was underpriced slightly. They were holding off offers for a few days and ultimately didn’t even get their full price. The interesting part is that there was a similar house that was listed at the same time with an offer date a few days later that is on the other side of the highway (upper lively) but more updated; I believe that a lot of the same buyers would be looking at both of these properties. I think what happened is most buyers are leaning towards the more renovated home and because that offer date hasn’t happened yet, they passed up the better location place (that needed more work) with the thought of entering a bidding war on the other property. This is an interesting example of holding off offers. You have to be aware of your competition and when offers are due. I honestly believe that if the Mikkola property would have had an offer date after the more renovated house; they would have had more interest from the people who missed out on the Upper Lively home.
Looking at the numbers this week, it really feels like the slowdown is coming. It is funny these listings are coming up now with only a few months until our winter market is here and some of the buyers icing their home search until the spring thaw. This combined with the mortgage deferrals ending for the 20% of Canadians who opted to put their mortgages on hold; there are lots of factors that could point to the shift in listings continuing.

This may feel like the most interesting thanksgiving weekend that I can remember. Going back to only being surrounded by our immediate family bubble, and any others being present over zoom. I saw someone comment on Facebook that the steps we take now at Thanksgiving will go a long way to enabling us to gather together at Christmas!

Welcome to fall in Sudbury. This week we have David Kurt AND Tristan Ritchie on the mic to chat about the week in today's episode of Selling the Rock!

The leaves are changing, school is in full swing (for now), and the furnace is officially turned on. I’m sitting here writing this cozied up to a warm fire with a piping hot americano (pretending its Pumpkin Spiced). Provincially, we are now down to gatherings of 5 people max, and the rumour is that today's PD day for educators has a focus on what would a shift to online schooling online look like as a transition.

It was an interesting week with the US debate in full swing. The consensus after the first debate is the biggest loser is the viewers at home. Apparently, it had the search “Move to Canada’ spike to all-time highs on Google. Locally, we saw a nasty side of some keyboard-warriors who were threatening to deface the newest Mural painted by the BLM Sudbury chapter; 2020 has us living in a strange world I feel like.

From a real estate market perspective, we are seeing the biggest one week shift away from the crazy seller's market. We had 20 more new listings than sales this week! Comparing to the averages, multiple offers and conditional deals were pretty consistent.

My 5 takeaways this week are:

The shift is real; we saw only 50 sales this week with 70 new listings. That's the biggest spread of new listings we have seen in all of 2020 so far. Good news for buyers who have been frustrated waiting for listings!
Why can’t listing agents list a house at the right price??? This has been a dragging frustration for a lot of buyers in the marketplace and we saw it again a few different instances this week. The worst example was a vintage 1970’s bungalow listed in New Sud’s for 199k; I pulled up single-family homes under 250k in New Sudbury in the last 3 months and there is only one sale (244k) and that was rough! Clearly, this home should have been listed at least at 250k. What happened in the end? 25 total offers with 24 frustrated buyers, and almost 100k above asking price with no conditions.
Reviewing the sales from this week, I took a look at the prices and almost 40 of the 50 sales were under 400k and 56 of the 70 new listings are also under 400k.
Looking at ‘Luxury Sales’ (sales higher than 600k); there were only 5 this week (4 of which were in the South End). The highest one was just over the 900k mark for a flat lot waterfront home on Long Lake that also has a pool (for those who can’t stand the chilly Lake Water).
Looking at the numbers this week, it really feels like the slowdown is coming. It is funny these listings are coming up now with only a few months until our winter market is here and some of the buyers icing their home search until the spring thaw. This combined with the mortgage deferrals ending for the 20% of Canadians who opted to put their mortgages on hold; there are lots of factors that could point to the shift in listings continuing.

In the last few weeks, I had relaxed my prediction that the market would slow down and shift away from the seller's market we have been in. There are clearly leading indicators that could amount to a shifting market though; the biggest being that those mortgage payments for the 20% of Canadians that haven’t made a payment in 6 months will be due this week. That combined with snow in the forecast this week, may be a reason for us to transition into a winter market without really having a fall market at all.

I know on tap for me this week will be braving the cold water to get the floating dock and the boat out of the lake, I’ll make sure the sauna is stoked before taking that dip!

Best of luck and we’ll chat next week!

Things picked up again over last week's 'very average week' (almost mirroring our average stats post-COVID). We had more sales, more accepted offers and way more multiple offers...oh and fewer listings. It appears the market slow down may have things getting worse for buyers before it gets better.

With sales and accepted offers both above the averages, and both up over last week, all while new listings are falling. This is putting more pressure on the # of listings available and the overall market selection (bad news for buyers).

Multiple offers were again off-the-chart this week, and looking at the sale values behind the numbers, WOW there were some big prices above asking. I feel as though when I saw the market starting to slow, the rest of the province didn’t experience the same (unless you were a condo-owner in DT Toronto); and the media has been trumpeting the fact that the housing market continues to go crazy. This may have put some fuel on the fire locally and encouraged buyers to continue with the strong offers.

We are seeing a push back to a pattern of agents under-pricing homes which is very frustrating for buyers. Buyers see a listing that may be priced in their range and get very excited about it (especially when it shows so much better than anything else in the price range). This is a friendly reminder to have the chat with your Realtor about listing prices versus what we think is market value. The conversation I like to have with a lot of my buyers is what would I have listed the house at if I would have taken the listing. We have seen a 50K+ price difference this week in the list to sale prices, and this type of situation can be extremely frustrating for buyers. Just because we as agents think it's worth a certain amount doesn't mean that we will talk you out of seeing it or putting an offer for what you feel the value is; as we don’t have a crystal ball. Ultimately we are here to provide advice and guidance and the buyer is in the driver's seat to make offers they feel comfortable with.

We have had a few agents in our office chat about getting into multiple offers on fixer-upper properties. The comment I made to them is that this is typically when we see the contractors looking for their winter projects; it may be different this year but it seems like the contractors who are working are busier than ever, they will no doubt be a number of them looking for a winter project to keep their crew busy during any downtime; especially when we add to that the sales growth we’ve seen in the market over the last little bit. This will make it more frustrating for first-time buyers who are looking at the entry point to a lot of the marketplace.

As I feel like the market does shift; getting busier for sellers (and power shifting away from buyers), it feels like the available homes that are coming out are actually giving buyers some options of great homes to pick from. This seems like good news for buyers, even though the stats don’t match what the overall feeling is in the market. Maybe this is a leading indicator of the market and will be a sign that things will slow down in the future.

For now, I hope you are staying safe and enjoying the fall weather before the leaves are gone and the snow and shovelling get started!

When I ran this week's stats I compared them to the average stats we have seen post-COVID and surprisingly the stats are coming back EXTREMELY average. I keep talking about a slowing market, and clearly the real estate market (especially in Sudbury) has seasonality to it; but perhaps when I feel like the market is cooling, it's compared to the extremes we saw with the sharp increases as people were able to get out of their houses after COVID and start their search. When I compare to the average stats, we just may be in the new normal world with regards to market activity.

If we are in the average territory this is a good sign! It's not like there is going to be a huge decrease in listings or prices. Clearly, there will be some seasonality and things will slow down as we approach the winter and pick back up when we get to the summer; but all-in-all we are in a steady marketplace.

I also took a look at the total listings on the market today (not just new listings hitting the market) and there are 238 available homes. If we assume that no new homes came on the market and we continued to have 58 sales a week; we would run out of inventory in just over 4 weeks. This is a stat that is commonly used to predict if we are in a seller's market, a buyers market or a balanced market. A seller's market is defined with anything less than 4 months of inventory, a balanced market is 4-6 months of inventory and a buyers market is 6 months +. Clearly, with only a month and a half, we are still in a strong seller's market.

I’m working with a buyer right now that is looking for homes between 320k and 420k, basically anywhere in Sudbury. I figured this is in the heart of our market and there should be lots of options to show them. I was floored at how few homes that met a pretty standard search criterion (3+1 bedrooms min, prefer a bigger yard, some updates). It was like looking for a needle in a haystack! It seems like there are options out there but wow it can be difficult to find some places, and the price points seem to be creeping higher!

I have so many clients asking for my advice on whether or not this is a reasonable market and if things will go down or continue to go up. I wish I had a crystal ball and was able to predict the future, but sadly I’m no expert in tarot cards. Despite that, I will give a few reasons for the market to continue to increase and some reasons it could decrease (this is what weighs on my mind constantly in this market).

I do think we are seeing some homes that are selling above their true values, with buyers being swept up in a bidding frenzy and putting offers that are shocking in price. But despite the large growth we have seen in average prices (specifically over the last 20 months), I think a lot of that increase is just playing catch up to the previous few years where the price points in the market were flat. I think that Nationally, the economy will get worse before it gets better, and due to that, we may see a small pullback in some of the price points we have seen (especially with examples of some of the extreme bidding wars). But overall, we will weather the storm well in Sudbury and prices here will continue to be strong and even continue to grow (at a slower rate then we have seen in 2019/2020).

Catch you all next week!

My wife mentioned to me on Monday of the long weekend that it was the unofficial end to the Summer (Labour Day), and it really hit home that the long nights and beach weather is slowing slipping away (that couple with a frigid boat ride with the family!) Tuesday brought back school for a lot of kids across Sudbury; and whether parents are opting for virtual or in-class version of school year 2020/21, wow, its a nice feeling to get back to some routine. It will be interesting to see what the routine continues to look like as the seasons continue to change. Will kids have hockey this year? Will there be trick-or-treaters in a few weeks from now? We’ll see how things shake out with the first few weeks of school and play it by ear.

Activity definitely feels like it's following the weather, and cooling down this week. But when we start analyzing the sales; sure the number dropped but the competition that’s in the current market; WOW WOW WOW! Almost 70% of the deals this week were in multiple offers, that’s the highest percent we’ve seen in 2020!

New listings are down big this week. We actually hit the lowest number of new listings that we’ve seen in the last 16 weeks! Again listings are typically seasonal and peak in the spring, and bottom out with the winter, but my prediction was that when school starts back up and we get routines going again we will see the listings come back from what has been a low last few weeks; that clearly wasn’t the case this week. This will be an important number to continue to monitor, and although listings equalled the number of firm deals this week, both numbers were a lot lower than anticipated.

Sales definitely dropped this week, it was actually the same number as 2 weeks ago, but looking at it on a longer time horizon; its a sales number that we haven’t seen since the end of May! This is right in line with what I have been preaching that the market is calming down; but when I pair that with the number of multiple offers we reviewed in the last point, it seems that the slowing market is still extremely active from a competition standpoint. There may be fewer buyers out there but the lack of product still makes it very competitive.

The new listings almost matched the # of sales again this week; a positive sign that things are evening out, but when we factor in conditional deals (pending sales) it does throw the balance out of whack. Pending sales are a good snapshot in time about how active the market is at any given time, and what we see with 27 pending sales is another very strong week of market activity.

The market is funny right now; I think that's the best way of explaining it. The low price stuff seems to be going quickly and for the most part, and as much as I’ve been preaching the slow down in the market, things have kept chugging right along. There is also a widening gap with ‘luxury' house values seeming to continue to increase (this week we saw sales in the Valley at 775k, 690k, and 610k!) as “luxury” homes continue to hit higher price points. At the same time I say this, it feels like the market is a lot tougher and the prices homes may have seen (specifically in multiple offers) a month ago aren’t prices that sellers can expect today. I think when we evaluate listings as a whole; we realize that the lack of available homes and the motivation of every buyer is unique; this explains that some homes have the ability to sell for big premiums while others hit the market with little to no showings.

I hope you enjoyed your labour day weekend and you are transitioning well into whatever routines you have!

I’ve talked about a slow down coming for the last few weeks, and we saw the numbers trend in that direction a couple of weeks ago, with numbers reversing in my last weekly update.

This week we saw sales slow back down, although the conditional deals, as well as multiple offers, were still quite high. And the number of new listings were lower but strong considering families are putting their focus back to school as it's only a few days away.

Sales are back down again this week; even lower (by one sale) than when the numbers fell off the cliff a few weeks ago. The sales that are still happening are happening in a competitive environment, with lots of multiple offers. Looking thru the sales, there are a lot of them happening at the entry-level market price points, and the ones that are happening in the 600’s + (there were a decent number of them); are homes that are truly impressive.

Conditional sales were high again this week, surprisingly high to what I was expecting. These are typically a snapshot to show how active the market is at a given time; and with 27 active deals in the last week, it is more active than I thought it would be. Looking at the listings that have offers on them; only 2 were homes that were listed in the last 7 days, with the majority being a few weeks old.

New listings hit a low we haven’t seen in a few months; although still larger than the # of firm sales. There is a noticeable slow down in showings and activity in general on a few of the listings that came out last week. There are a few explanations we may point to for the lower listings; families enjoying the last few weeks before school or a lot of people who were interested in selling may have got their house on the market earlier in the summer. Ultimately, for the market to continue to balance, we will need more listings to come out. My guess is the next pop in listings we will see will be after kids are back to school in September.

I was surprised to see how many ‘luxury’ homes (premium-priced) sold this week. This can be different prices in different areas. Luxury in Chemmy may be at 600k, while luxury in Southend may be 800K. There were a number of bigger sales this week, and I was close with some of my buyers to getting involved with multiple offers on some of them. In the case of the ones that we came across, they offered something very unique that the market hadn’t seen in a long time; a really nice in-law suite for putting the parents downstairs and having built-in babysitters, or a beautiful pool backyard (the place on Jeanine I heard had 150k+ put into the landscaping). In all these cases, buyers were more than willing to pay for the WOW factor.

Almost 80% of sales this week that happened were under 400k. Now that is still a lot of money for Sudbury homes, so its understandable that more than the average is happening at that price point. With interest rates in the gutter (and the way the Canadian economy is looking, it's not going to get better any time soon. My guess is 2 years out before we see interest rates creep up); 350k is a price range that a lot of first-time buyers are looking in. First-time buyers are a huge positive indication of a healthy real estate marketplace, so maybe we can take this as an overall positive, but it is interesting to note.

With the nights cooling off and August running out of days, it truly does feel like the Summer of 2020 is coming to an end. However you have been enjoying your summer, I hope you continue to squeeze the last few ounces of joy out of it!

Until next week!

It was a pretty active week for the Liberals. The previous Finance minister, Bill Morneau, quit or was told to quit all in the untangling of the ethical mess tied to the WE Charity. He forgot to pay back his travel tab of 50k, a small oversight for the finance minister, especially when his daughter is employed by the charity. In stepped a new Minister of Finance, Chrystia Freeland, and although having almost no financial experience or business background; she seems to have some lofty plans. Everything I read seems to hint that Trudeau is pointed to introduce some version of Universal Basic Income. If we think we are in debt as a country now, we may just be getting started.

In local news, kids will have a staggered start to school this fall. We have one new case of COVID (so far-so good Sudbury, good job keeping those numbers down), and we saw a display of the worst parent of the year encourage his daughter to beat up another kid. Wow, that was a busy week. On a real estate perspective, last week we hit what seemed to be a turning point shifting our market; we saw listings spike and sales slow to a crawl.

Sales: 64

Conditional/Pending Deals: 20

Multiple Offers: 34

New Listings: 62

Despite the large number of Sales; there is a great number of them that are under 300k showing that the entry-level price point is still very active. I’ve made this prediction in the past a few times but this price range will be the last range to slow down.

I was reviewing the conditional deals, and only a couple of them were listed in the last week. That is a huge shift we haven’t seen in the last few months. Typically, the new listings are the hot commodities and getting scooped up as soon as they hit the market. This is not the case this week.

As much as every listing agent wants to hold off offers; we’ve seen presumptive offers (or Bully Offers as I prefer to call them) test the sellers and other buyer agents. It happened to one of my teammates this week. He was presented with a Bully offer; his client had not signed a form (in the real estate biz we call it 'form 244') that stated they would refuse to look at any offer that came in before their offer date. He presented the offer and the clients loved it and it sold firm on the spot. The tough part is the backlash he’s getting from other agents saying it wasn’t fair that they weren’t notified about the bully offer. The biggest piece of advice here is as a buyer, if you see a listing with a future offer date and you're interested, book your showing asap; even if it's not for a few days. When we notify ‘anyone who has shown interest in the property’ about Bully Offers, we use the list of showing requests as those to notify. Any agents who hadn’t reached out yet were out of the loop.

A few deals this week, especially in higher price points went for a big chunk of $ under the listing price. This reinforces the point I’ve been making in the past few weeks that buyers in these price points are being super picky. They know what they want and they are in the driver's seat when they are shopping for it.

We saw 2 listings this week sell for 1M + and if you add in one that sold at 980K, that brings the total to 3 (almost) Million dollar listings this week. There are only 6 sales over a Mil in the last year! I think what’s happening here is that buyers are seeing benefits from the increase in their equity in the crazy market and aren’t afraid to jump up in price if they feel like the value is there.

As much as the market is cooling down, it's not crashing and prices are still remaining constant. There will be some tinkering with prices as we try to get a sense of what true values are when FOMO disappears from the marketplace, but all-in-all, I think we’ll continue to see steady growth in prices as we adjust to colder weather and turning the furnaces back on again.

Til' Next Time!

What a week it was for the lending markets on a national scale. It was a mud-slinging contest between Evan Siddal (the head of CMHC) and every other lender and mortgage broker in the media. Siddal accused other mortgage insurers of pandering to high-risk clients; pushing the market to a value that he sees as 20% over-inflated. CMHC % of mortgages have dropped in the last few years to 90% of the insured mortgages to the current numbers around 40%; it could be that the tougher standards have shifted business to their competitors, or it could be that they are out of line with the current lenders in the market.

From a numbers standpoint, I’ve been hyping for weeks that we are starting to see the signs of a gradual slow down in market activity. Numbers I thought would be reflected in the sales data in the last few weeks. But every week, I was continuously proven wrong. Well, it finally happened this week! We have more listings than sales; sales actually dropped to the lowest point they have been in months and we hit the second-highest point of new listings we have seen in all of 2020. Good signs that we are shifting to a more balanced marketplace.

I’ve been following Sales + Pending Deals versus New Listings for months now and this is the first week the new listings won out. What that means is that there are more listings this Friday for buyers to review than there was last week. It may seem like a small thing but its a big deal; it’s the first step to taking some of the “FOMO (Fear of Missing Out) out of the market.

Sales were the lowest number in the last 4 months. That was a bit surprising to see how much that number fell. It can be blamed on a lot of different factors (families enjoying their time before going back to some version of school in a few weeks); but ultimately I’ve been expecting this number to drop for the last few weeks, even saying that I expected more of a gradual slow down than the drop we saw this week.

Buyers are still paying big premiums on certain homes, places that I thought would be even in this market overpriced; but the biggest caveat to go with that point is that buyers will pay the premium for places that they truly fall head over heels in love with. If its a house that is functional or works on a few fronts, buyers aren’t willing to pay the same kind of premiums.

Newest listings were the second-highest number in 2020. It was a few weeks ago that I thought we would start to see new listings start to climb, and we had multiple weeks in a row where that just didn’t happen. I chalked it up to the thought that we peaked with our version of a post-COVID spring market early in the summer and listings were going to normalize. Again the numbers proved that assumption wrong this week; hitting numbers I didn’t expect to see again in 2020; a good sign if your a buyer waiting for listings!

The biggest shift I have seen in the market has been in listings that are more premium price. These are listings in the step upmarket (depending on price point this changes) generally let’s say 500k plus listings would be step-up homes. The sellers hear how crazy the market is and look to get the premium on their homes, but ultimately the buyers have to pay the premium, and in this price range the buyers are becoming pickier than ever. We still see chaos in the first time buyer price range but as things cool off in the higher-priced homes, I expect that in future weeks (maybe months) we’ll see this calming work its way down into all price ranges. [While I make this statement I still fully expect prices to stay strong but maybe remain constant with smaller growth, I truly believe we are not in line for a price reduction in our house values].

Could this be the start of the market shift back to a balanced marketplace? I think we are starting to see the signs that I thought would be happening translate into the numbers! Only time will tell though!

We're sorry we're behind on getting you last week's Sudbury market wrap up...but HERE IT IS! Welcome back to your weekly dose of Selling the Rock!

This pandemic has forced a lot of people to rethink their lifestyle and what their definition is of a fulfilling life. It seems like every day we are hearing another big company tell us that they are shutting the job structure where it isn’t an expectation that people will work at a cubicle 9-5 jobs until they retire. The shift towards remote working as well as people placing more of an emphasis on quality of life continues to be one of the reasons Sudbury has been such an attractive market place; especially for people making the move up North.

David predicted a few weeks ago that the market place would be slowing and shifting to a buyers market. But the numbers continue to prove me wrong. My conversations with clients give the impressions that a surge of listings is coming to the market; which would be great for buyers, that teamed up with some of the lowest # of sales this week may show the market is cooling. But ultimately, the # of deals (when we factor in pending sales) as well as the number of multiple offers shows the market isn’t ready to cool just yet.

Now for the numbers this week; sales hit one of the lowest numbers we’ve seen in a few months, but again it’s still more than the number of listings when we factor in the conditional sales.

All Stats as of August 1st - August 7th

Sales : 52

Conditional/Pending Deals : 24

Multiple Offers : 31

New Listings : 59

The increase in sales actually reverses the trend we saw for the last 3 weeks of decreasing sales. It's still a far cry from the 75 sales we saw the first week of July, but my prediction was that sales were going to continue to slow down, and that didn’t happen this week.

David believes multiple offers will be a lagging indicator to a shift in the marketplace, but it is interesting to note that the number of multiple offers this week (as a percentage) was actually the highest it’s been in the last few months.

A few weeks ago we made a prediction that we would see new listings increase from week-to-week; shifting power away from sellers into the hands of buyers. We saw that happen for most of the last 2 months until last week. This was another week where new listings were down; hitting numbers that we haven’t seen since May. This could be due to the fact that sellers fear the prospect of not having anything to buy if they list their house.

It may be anecdotal and not backed up with numbers, but just within our team, we are working on close to 10 new listings that will be hitting the market int the next few days. We haven’t seen the shift shown in the numbers but if there are a lot of other sellers that are in the same scenario like the ones that we are currently dealing with, we can expect a lot more listings hitting the market into mid-August.

One of our teammates sent a text the other day, and it said: “markets slowing down”. This is the feeling we've had for the last few weeks, but this hasn’t been confirmed by the numbers we are seeing on the weekly updates. This was the week that I expected to see the # of deals be equal to the new listings; my gut keeps telling me we are continuing to see the market slow down. This last week we did see the lowest # of sales in a month, which is a sign that maybe that prediction is coming true; but when we add in the conditional/pending deals we are still about 15 transactions more than the number of new listings that hit the market this week.

It has been a chilly start to August, but hopefully, you are enjoying the home-stretch of your summer. Til' Next week!

Wow, another summer long weekend in the books! We know we're a bit behind...but better late than never! David Kurt is back on the mic to share last week's market wrap up! Surprisingly...it's NOT the real estate numbers that are this week's shocker but the Sudbury COVID numbers! The Sudbury numbers are spiking at an alarming rate, with 22 new cases in the last week and a half (and rumour that there is a bunch more being announced today); not so great for Sudbury. We’ve spent months trending in the right direction, and it's understandable that teenagers are going to get an itch for big outdoor social gatherings (the Sudbury rumour mill has that a Garson ‘bush’ party played a big role in some of the spread this week), but it shows how easy it is for our numbers to trend in the wrong direction. The spike in numbers led to a quick decision by Penny Sutcliffe to reverse the decision she made to relax visitor restrictions at the hospital, and there are threats of more shutdowns or restrictions in the near future.

Schools announced that kids will be going back in the fall (at least for primary students); grade 4+ kids will be wearing masks. High school kids will self-monitor and be on a hybrid schedule of online and in class. I think I heard an audible sigh of relief for all parents across the province yesterday when the announcement was made. As of today, you can even go catch a movie at Silver City if that's something you’ve missed (50 people max/theatre, maybe buy your ticket online to skip the line).

The increase in sales actually reverses the trend we saw for the last 3 weeks of decreasing sales. It's still a far cry from the 75 sales we saw the first week of July, but my prediction was that sales were going to continue to slow down, and that didn’t happen this week.

Although 64 new listings seem like a healthy amount this week (and a slight increase over last weeks numbers); it seems to show that there isn’t a week to week pattern with new listings, if we chart the numbers over the last 3 weeks we can see a trend towards increasing listings, but it is still a stat that's more unpredictable than I would have initially thought.

The market continues to feel like it has slowed a touch, although the numbers don’t back it up this week. I think the most interesting observation from this week came from a few of the listings that we had a buyer make an offer on a few weeks ago. I wrote about the frustration he was going through putting offers on a few different places just a few weeks ago. I actually had one of the agents reach out to me to see if we would still be interested in offering our last offer (we weren’t); and 2 of the other places we made offers on were recently reduced. This is showing that even in a hot market ultimately the buyer has to be willing to pay your price, especially on the step-up (higher priced) homes.

70% of the sales this week were under the 350k price point. It makes sense that we would see the majority of sales in lower-priced homes (average in Sudbury is just under 340k), but it does seem to skew towards more entry-level homes.

We have seen a push towards multi-family properties in the last few weeks; we are seeing in a few cases these properties going in bidding wars as well. It seemed like the prices in Sudbury (multi-family specifically) were getting so high on a per/unit basis that it seemed that that market had slowed. This seems to not be the case currently, especially around purpose-built rental buildings in good locations (not flour-mill/Donovan). I wonder if it is the increase in equity that people are seeing in their principal homes is funnelling an increase in this marketplace as well.

Hope everyone has an awesome week! Be on the lookout for this week's wrap up of the first week of August!

The summer continues to fly by at break-neck pace; and for my friends and colleagues who have been begging for the return of live sports, they were able to watch Major League Baseball for the first time this year. With soccer back already, and hockey and maybe basketball coming back in the next week and a bit; there is some silver lining on the horizon, at least for sports fans.

With Health Sciences North relaxing visitor restrictions and the official word as to Schools reopening plan next week; we are on the cusp of potentially bringing back a lot of normalcy to what’s been an abnormal 2020.

On to the stats for this week, it continues to be an active week, most accurately reflected by the current pending deals (28 conditional sold homes). New listings fell a bit from its 7 week high to 60 new homes this week; an optimistic sign that the market could be replenishing the listings to choose from.

Firm sales this week dropped again even from last week's 6-week low. Conditional sales continue to remain strong and when adding Firm sales with Potential sales the numbers still outpace the # of New Listings, but the difference between the two keeps getting smaller.

I commented last week on how the Multiple Offers didn’t seem to be as crazy, both in the number of them and in $ above asking price. This week it seemed the opposite. From a percentage view, it's the highest % of sales that were in multiple offers in weeks, and even the $ over listing price was shocking when I was reviewing the numbers this week. It is important to note that I believe both $ above list price and % of multiple offers will be lagging stats to a shift (balancing out in the market); its buyers who are full of FOMO (fear of missing out) that may be in a position to over-bid on homes and not realize the market may be slowing down.

I’ve chatted with multiple mortgage brokers this week who have commented to me that they are busier than they have ever been; but there has been a shift in their business from new approvals (people preparing themselves to buy), towards refinances (people tapping into an increased equity in their homes). This may be anecdotal but it would line up with what I believe we are currently seeing unfold in the market (fewer buyers entering will ultimately ease the pressure of future bidding wars).

I had one client this week who made offers on 4 different places that may be seen as step-up home price points. In all first 3 cases, the sellers were very difficult to negotiate with and they sighted the chaotic marketplace as a rationale for them to be able to stay firm on their prices. Ultimately, we were able to get him something we saw as fair-value, but looking back at the first 3 homes, they are all still available at the time I am writing this. Sure they may sell in the next short while, but even in an extremely active market, the buyers have to agree with your value for a sale to happen.

The trend of Southern Ontario buyers coming up to our marketplace seems to be still continuing. I believe that as people go back to their version of normal life, they are finding ways to utilize technology to allow them to continue to work remotely and the need to be downtown at an office maybe once every few weeks instead of every day. The frustration of being cooped up in a concrete box, or on a postage stamp lot with a 1M+ mortgage seems its been enough to have some people re-think their current living situations.

There are a lot of changes being officially announced in the next few weeks. I know with 2 school-aged kids myself, I’ll be listening intently to the plans for schools to open up in the fall. With phase 3 officially going well in Sudbury and Ontario cases of COVID dropping to the lowest levels since March, it's a great sign for things in Sudbury and all of Ontario. Stay well and we’ll see you guys next week!

Wow, I feel like I’ve blinked and its already mid-July. Maybe it's the late nights running out to show houses that were supposed to be holding off offers, but sellers are presented and choose to deal with bully offers (an agent and their excited buyers decided to bypass the offer date with a bully offer; forcing us to ‘see it tonight or miss your chance’). Seeing a listing hit the market and not have an offer date is the rarity now (something that if you’ve been following this weekly email was unheard of 12 weeks ago in our market). With historic low-interest rates, pent up demand from buyers who’ve outgrown their home after being cooped up for 4 months, and buyers FOMO (fear of missing out) at an all-time high; it starts to paint a picture of the chaos we have seen over the last few weeks.

But the chaos can’t last forever, and I keep feeling that any week now we are going to see the trend in numbers start shifting away from the seller's market we are currently in; and back to a more balanced market. As a glimmering of hope for that; Wednesday and Thursday were the first time that the numbers as a whole saw more listings than sales in our market in a long time, it does feel like the market activity is ever so slightly starting to slow down; at least from the emails and phone calls our office has seen towards the end of this week.

New listings were the highest we have seen in the last 7 weeks. That was a bit surprising; usually, we hit a peak of new listings in the spring and that tapers off as we progress into summer. We’ve chatted before how COVID has caused the spring market to have shifted into the summer market, but to see the new listings spike again I believe steps from to 2 potential reasons. The first one being sellers aren’t concerned with selling during COVID (anymore); and are ok to move ahead with listing their home, (which may have been their previous fear). Second, sellers are seeing the premiums in the market and are realizing that they can be selling for a big $ right now, and aren’t afraid to act now.

It’s been a trend that I’ve seen more and more in the last week, but sellers who are holding off offers (waiting for offer night) are now adding in a condition of ‘suitable accommodation’. It’s kind of a reverse condition of needing to sell your home to buy a new one, the seller has a specific home in mind and they are selling only if they get that property. This supports the later point made in the bullet above, sellers are seeing that they can get a premium for the current home and either looking to take that equity and downsize or possibly jump up to a bigger place or waterfront home, they see now as the chance to do it.

Multiple offers were down this week, although sales were down as well. When I started to review the week of sales, the sales-above asking didn’t feel quite as shocking as they have in the past week (maybe I’m growing accustomed to the massive over-bids).

Real estate markets across the country seem to be in the same position as Sudbury currently is, With listings down, prices up and bidding wars all over. One of our principal beliefs at Lake City Realty is being an Expert and focusing on what we know; and because that I don’t want to comment on the housing market Nationally, but I don’t mind giving my 2 cents locally.

Sudbury in the Summer is something truly amazing, and with bell park opening up and gatherings getting slightly larger; I hope you stay safe and enjoy yourself to the fullest.

Happy Friday! Welcome back to another episode of Selling the Rock - your local real estate podcast! David Kurt is on the mic to share his thoughts on the week!

From a National economic standpoint, the debt numbers came in this week and it wasn’t great. The pandemic has caused a $343 Billion deficit, we have a third of the workforce staying at home, and our country’s had the first credit downgrading in 25 years. So, all-in-all not a great week for Trudeau; as a firework-less Canada Day is right in our rearview mirror.

On a local level, we were wondering if last week's dips in numbers were going to be the start of a trend; or if it was a Canada Day holiday blip on the radar. It turns out sales were as hot as the Idylwylde 2020 Ryder cup team this year (congrats on the win by-the-way). We hit almost 100 deals this week (sales + Conditional deals); all while seeing the lowest number of new listings in over 2 months. See the link for the sales in the last 7 days.

We hit the Wayne Gretzky this week of possible deals (99 total [sales + conditional deals]). After last week's dip we hit the highest number of deals in 2020. In addition to that we have the biggest differential of deals to new listings, but its trending in the wrong direction for buyers and making things better for Sellers in Sudbury.

New listings this week are lower than last week's holiday tainted numbers. This must mean that we have clearly shifted out of the spring market and continue to find our selves in a summer market where listings will be scarce for buyers, and it's not changing in the near future.

I was chatting with a friend about the market this week and he asked me how many sales we saw all of last year (approx 2800); which works out to 50ish a week. We are in a market that is a 100% increase in sales, which explains the chaos we are currently experiencing.

You'd think that the record-breaking temperatures, complete lack of product or pure frustration buyers are feeling with bidding wars would show signs of the market slowing down and easing back to a more balanced marketplace. That's just not happening. The only thing that can stop the market full paced charge may be prices reaching a point that buyers are turned away; and even though we’ve seen some crazy increases in average sale price (we are already up 10% in average sale price for 2020 over a busy 2019 market), I truly feel that this increase is catching us up to the rest of the gains the province has seen as a whole in the housing sector over the last decade.

From 2015-2017 (actually from 2012-2017) there was very small incremental growth in average price of a home in Sudbury. 2019 hit and the market started to get really crazy, our average price was up 20K+ year over year and we almost hit a 300k average home price in Sudbury. In the first 6 months of 2020, we are already up almost 30k and seeing an average price of just under 330k for the average sale price in Sudbury. The big bold prediction that I am starting to make is that by the end of 2021 (18 months from now) we may see a $400k average sale price in Sudbury. This could be a huge overshot and very optimistic, but I do see the numbers trending towards it, and I think it will take numbers in that range before buyers start second-guessing jumping into the market.

We're seeing Sudbury have demand from out-of-town buyers like no time that I can remember. I do believe it's tied with people being forced to stay in their concrete box in Southern Ontario for multiple months during COVID; or being confined to a yard the size of a postage stamp; that people are feeling more confident in stepping outside of the city and working virtually and placing more emphasis on their work-life balance. I hope you are continuing to enjoy this beautiful weather; and if you are out and about shopping at some of our local establishments, don’t forget your mask!

Welcome back to another episode of Selling the Rock! David Kurt here on the mic today reflecting on the week and amazing Canada Day spent with the family at the lake; and the thing at the top of my mind is… it is sooo hot. I’m never one to hate on the heat, and I’ll never ask for colder weather, especially after long winters we have in the North, but its times like this that I prefer to be hanging by a pool or the lake over going into work, and I had the realization that a lot of buyers may be feeling the same way.With the craziest June the Sudbury real estate market place has ever seen coming to an end, it's interesting to see if the momentum will continue and shift into July, and our Summer season.

The # of sales this week are down pretty significantly over the last week, which is a very interesting stat to watch. Now I’m not sure if that's real or with the holidays and heatwave over the last week, maybe the buyers have temporarily pushed pause on things for the last week. Despite sales being down, there were still more sales than new listings, the number one stat I try to keep an eye on week to week; which means that as of today a buyer has fewer homes to choose from on the market then they did last week. In a marketplace that buyers are starving for listings, that's clearly not a good sign.

The number of new listings was down over last week, in fact, we are at the lowest number of new listings for the last 6 weeks. Maybe the spring rush of sellers waiting on the sidelines, or for COVID to normalize has come and gone, or perhaps the buyers who were shopping with the thought of selling their home are realizing the difficulty of buying a home in this marketplace (especially when they have a house to sell), and are opting to hold off for the time being. With sales slowing down that’s one part of the equation to shifting out of the craziness of the current marketplace, but we need to have more listings then we are currently seeing to replenish the selection in the market.

There was a beautiful home that hit the market today on Maki for 1.6M; and I started to think about the prices we’ve seen in Sudbury over the past year. I did a quick search and there are currently 16 homes over 1M in the Sudbury marketplace alone (Manitoulin and the French River would add a bunch more to this as well if I included these in the stats). Next, I pulled up the sales and there are 5 sales in the last year for homes over 1M. The biggest shocker is that only 3/5 of them are waterfront; 2 of them are just nice homes in the Southend. On one hand, it feels crazy that there were 21 total homes over a million bucks in Sudbury; on another hand only 5 sales in the last year makes me think that even though there are a lot of homes asking prices over 1M the number of buyers in Sudbury that match the listings just may not be there at least in our current marketplace.

It may be an abnormal week with the heat-spell we’ve been under in Sudbury and the mid-week Canada Day kinda-holiday. I feel like my phone hasn’t been as busy this week with clients reaching out to inquire or see new places; and that was definitely reflected in the stats. This may be an off week so reflecting back on it we may have to put an asterisk next to the numbers.

I don’t want to be one to point out the obvious, but it is crazy hot in Sudbury right now. The current heatwave we are going thru has brought me to the realization that maybe we don’t need ‘holidays’ and vacations to shift out of the current market place as I’ve highlighted in the last few blog posts. It is very difficult to be ambitious to go to work when all you want to do is be at a beach, pool or lakeside. Perhaps this heat spell will be what's required to shift buyers away from the house lust they have been infatuated with; and that will shift the marketplace into a normal pace. Hope you are enjoying this heat-wave in whatever way you can! Tune in next week!

AND WE'RE BACK! David Kurt here on the mic to give you the Weekly Wrap Up!

I’ve got the Alice Cooper song ‘Schools Out’ being sung over and over in my head. Today is the last day of online school for my kids, and giving me a nice break away from the craziness of trying to be a full-time teacher in addition to parent, business owner, and Realtor®. I got a poll from the Rainbow school board this week and they were asking questions about what I would prefer when it comes to a possible plan for next year, would I like to see alternate days for students or alternate weeks (based on reducing the number of students in a classroom); and it sunk in we are in this for the long haul.

With the ‘new normal’ (I hate that term); continuing in Sudbury; and more businesses opening up as we officially welcome in Summer, things just keep getting hotter and hotter with the local real estate marketplace.

This week we saw 63 sales with an additional 30 conditional/pending deals. Sales + Conditional Sales this week = 93 Deals. It was just a few weeks ago that we were shocked to see this number in the 60s and 70s; and this week we almost hit 100! That alone is pretty insane, but believable when I look back at how busy things have been in the last 7 days. The bigger take away from this number is that there were only 70 new listings replacing the 93 deals. That's the biggest reduction in the available product we’ve seen in months; a sign that things aren’t going to get better for buyers any time soon.

The percentage of multiple offers may have dropped, but it's the value of the sales that are going over list price that is the bigger shocker here. There was one listing that was priced at 210 that sold for over 56k above the asking price, with no conditions! And with every new sale, we establish a new baseline for comparable sales and future listings.

The crazy activity in the marketplace has a lot to do with buyers having FOMO (fear of missing out). Having been outbid on a few offers they become extra aggressive with their next bidding war.

We’ve had chats with our team about listing strategy, and I’ve seen a ton of complaints online that ‘Realtors® are the cause of this mass increase in prices’. When we list a house we do try to price it towards the upper end of what the recent sales show. I have heard on a few occasions that there are Realtors who are pricing homes under value purposely to encourage more activity and bidding wars. This is extremely frustrating for buyers! Homes that they are seeing in their price range are misleading and may sell significantly higher than their list price. A good Realtor and educated buyer should be able to estimate actual selling price (or range) when we see these under-priced listings, but realize that if this trend continues, there will be many frustrated buyers out there.

When is this going to stop? I’ve given a lot of thought about this and chatted about it in past weeks posts as well. Typically we see school end and families start to head to camp, or on vacations; although camp trips will continue, vacations will be on hold for the immediate future. This means that we won’t see the drop in buyers who shift their focus away from buying as they are busy with their summer plans. The number to continue to monitor will be Sales+Pending Sales versus New Listings. When things start to shift to more product and fewer offers, that's when the market will slow down, but I don’t know what will cause that in the near future.

If you're wondering how the market affects your situation as a buyer or seller, Lake City Realty would be happy to have a conversation with you!

Hope you are enjoying the official start to summer. Sudbury Summers are the absolute best, we have the lakes, trails and beautiful outdoors to take advantage of; get outside and enjoy it!

Hey everyone and welcome back to another episode of Selling the Rock, you're Sudbury Real Estate Podcast! David is on the mic to share this week's wrap up!

This week was the week of of 'MORE'! More listings, more sales, more multiple offers...it's been a crazy week to say the least! There was a ton of fear last week that CMHC was pumping into the marketplace. Although, the threat of increasing minimum down payments and all the talk or Canadians on the brink of a ‘debt-cliff’ didn’t seem to have any sort of impact on our local marketplace. This week we saw the biggest increase in the number of sales that we've seen in all of 2020! When we look at firm deals and conditional deals together, we had over 60 deals! Multiple offers also jumped back up to 50% this week from 33% last week.

It seems the delay of the Spring market as well as the beautiful weather has created the perfect storm for chaos when it comes to the Sudbury Real Estate marketplace. Supply was up last week, and this week it's up again. I know buyers are begging for more listings, they are on their realtor.ca apps constantly and most know the number of available listings better than they know their mom's birthday. Last weeks trend of # Sales + # Conditional Deals < # New Listings; didn’t hold up this week, and the numbers that we are seeing this week, even with the most new listings we’ve seen in a week in all of 2020, we are continuing to push the market further into Sellers Market territory.

It will be interesting to see if the sales will continue to rise to surpass those new listings in June. As long as the number of sales are greater than the number of new listings, we'll continue to push ourselves into a seller's market.

We appreciate all of our weekly listeners! Let us know what your thoughts are on today's weekly wrap up! And of course, let us know how we're doing; like, comment, share or leave a review! Keep an eye out for next week's episodes of Selling the Rock!

Hey everyone and welcome back to another episode of Selling the Rock, your Sudbury real estate podcast! We apologize we've fallen a bit behind, but here is the weekly wrap up for last week!

In any typical spring market, we hit this point where the phone doesn't stop ringing, we have back to back appointments and we're battling showings and multiple offers with other agents. Well, last week brought a lot of the same similarities...just add in hand sanitizer, face masks, gloves and nonstop COVID-19 disclosure forms. Basically, we are in a spring market...just in the middle of a pandemic!

The real estate numbers continue to show a bright picture that the market is fully emerging from the COVID shut down. Last week, May 9th to the 15th, we saw 45 new listings and 33 sales (with an additional 23 pending sales)! That could bring us to a total of 56 sales last week alone! The number of conditional sales is jaw dropping! A month ago, we saw multiple weeks in a row with 0 pending sales! This truly reflects how busy the market is right now! The percentage of multiple offers last week dropped pretty significantly, from 2/3 to closer to just over 50%. However, we are still seeing the trend of holding off offers.

Just a few weeks ago, David Kurt predicted that we were at the slowest point in the pandemic real estate market. Last week's number of listings almost tripled! This has a lot to do with sellers feeling the marketplace as an opportunity, with a build up of buyers and minimal listings. The market has reset back to a sellers market, similar to what we were seeing pre-COVID.

This busy market can still get busier. We've seen the number of new listings triple in size in size in the last few weeks, but they still aren’t keeping pace with the number of sales (and pending sales). As long as; Sales + Conditional Sales > New Listings; we are going to continue pushing the market further into a sellers market. As we continue to ease up on COVID requirements it is likely that more buyers will enter the home search as well, putting more pressure on the market and increasing the number of sales.

We appreciate all of our weekly listeners and hope that Selling the Rock has brought value to your daily lives. If you are looking into buying or selling in this market, we would be happy to grab a zoom coffee and chat about your unique position in the market.

Keep an eye out for this Friday's Weekly Wrap Up episode of Selling the Rock!

Hey Sudbury! We're a bit behind on getting last week's wrap up out for you all in our effort to keep you up to speed with what's going on in the marketplace, especially on a local level. But you know what they say...better late than never!

David kicks off the episode by celebrating the reopening of hardware stores in Sudbury! That's right, no more waiting in line for pickups or calling ahead for orders! This seems to be one of the first signs that things are starting to go back to normal! Looking at the health unit website, we have 59 confirmed cases of COVID-19, with 2 deceased and 50 that are resolved. This is another great sign that our community is doing what we can to practice social distancing and flatten the curve.

The real estate market in Sudbury is fully emerging from the COVID shut down! Last week we saw 43 new listings! This is last week's most impressive number by far! It was only a few weeks ago where we were only seeing 10-15 new listings. May 2nd to May 8th had 21 sales. 66% of the 21 sales were in multiple offers! This is a strong trend week in and week out and we are seeing some very serious buyers. We've even seen the continued trend of listings holding off offers. Last week there was over 11 offers on a house in Garson and it sold for 30,000 over list price! This is crazy for the Sudbury marketplace!

On top of the 21 sales, there were also 7 conditional sales. 6 of which were listed in the last 9 days. Listings are fresh to the market and buyers are jumping on them right away! On our last Lake City Live, Tristan and I chatted about the spring COVID marketplace. We compared April 2020s numbers to April 2019s. There was a 50% reduction in the number of listings available in the marketplace. The hottest take on what this could all be leading to is that the COVID shut down is actually going to increase prices in Sudbury's marketplace, just based on having the supply and demand thrown so far out of whack!

We are seeing the opposite of what people expected! Tune in and don't forget to show your support for Lake City Realty's Selling the Rock Podcast! It's one of the ways that allow us to continue to connect with our local Sudbury community during times like these. Like, share, comment or leave a review!

Hello Sudbury! Spring is definitely in the air today - what a beautiful sunny Friday afternoon! David Kurt is on the mic today to give you the update on what is going on in the Sudbury Real Estate Market! So grab a drink, go sit outside and tune in!

We're just over 40 days since Doug Ford has closed down all nonessential businesses! We've almost hit 60 days since life as we know it has been completely changed and tilted upside down. Our small March break extension has turned into a very long one for a lot of the parents that are home with their kids right now (Huge shoutout to all of you teachers for all that you do)!

A lot of clients have been wondering what is going on with prices and market activity amidst it all. Two weeks ago, David predicted we had hit bottom in terms of transaction activity, with 15 sales and 15 new listings week over week. We were at the point where it seemed like the market could not get any slower. This week proved that point as we are starting to see a come back!

The bounce back started this week, with 17 sales. The biggest shock was the 10 conditional sales in addition to the 17 - which could bring it to potentially 27 sales this week! Just over 40% of the sales were in multiple offers. Again, this trend remains a strong one in this week's activity. There were 37 new listings this week, which is up 15 from last week! This is definitely refreshing to see!

We are entering the most uncertain and interesting Spring market place for real estate Sudbury has ever seen. Dave's biggest takeaway is that we can be "open for business" for those that need us during these times, but we need to shift and adapt to be virtual and safety first. He shares a recent post that moved him, "If you're not in front of your audience showing how virtual solutions can help people make the choices they need to make - you're already being left behind in the industry". This resonates with Lake City Realty as we pride ourselves in being cutting edge and ahead of the curve. We need to be in a position where we're teaching consumers what virtual first real estate looks like.

We hope everyone has an amazing weekend! Don't forget to show your support for Lake City Realty's Selling the Rock Podcast! It's one of the ways that allow us to continue to connect with our local Sudbury community during times like these. Like, share, comment or leave a review! Stay tuned for next week's Wrap Up!

Hello Sudbury! David Kurt went live on Instagram last Wednesday to run through some recent experiences where we were able to safely help clients navigate through the process of buying and selling in today's marketplace! He also shares his thoughts on where the market is going and when we are going to get back to the norm!

Join us live every Wednesday @ 1pm! We are more than happy to answer any questions you may have about Lake City Realty, our team or general real estate Qs! You can either text us your questions in the chat during the live or DM them! Hope to see you all in on our next live tomorrow!

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Hey everyone! Here's to another week in quarantine! Tristan Ritchie takes the spotlight from David today and is here to give you the market wrap up for last week's activity in our local Sudbury Real Estate market!

Here we go! We are now at what we think is the lowest point in Sudbury's real estate activity due to the COVID-19 pandemic. Last week we had 15 sales, which matches the sales for April 11th-17th! We've spoken to quite a few agents and the consensus seems to be that the phones are ringing more than they have in the past month. Over 50% of the sales were in multiple offers (8/15)! Clearly there's some motivated buyers as this trend continues to be strong. On top of this, 30% of the solds were new builds (3/8)!

There was an increase in new listings this week, with a total of 23! This is quite the pickup of activity considering that the two weeks prior had seen only 15 new listings each. This is definitely not Sudbury's typical spring market, but it's still an encouraging sign to see! We think we are slowly but surely going to rise back to normal from the low we've just hit.

Tune in and let us know what your thoughts are on today's episode of Selling the Rock, brought to you buy Tristan Ritchie! If you're wondering what these numbers mean for you, our team is happy to hop on a virtual call to answer all of your questions. Don't forget to show your support for Lake City Realty's Selling the Rock Podcast! It's one of the ways that allow us to continue to connect with our local Sudbury community during times like these. Like, share, comment or leave a review! Your support truly does mean the world to our team!

Hello Sudbury! We're a couple of days behind again, but here's the wrap up episode for April 11th - 17th! We've been tracking what's been happening in the Sudbury real estate market on a week to week basis. The trends and transactions help us see how being in the midst of a pandemic has affected real estate. Today, David shares the numbers for last week and explains what they mean for YOU.

When we look at the numbers in real estate this week, we are able to see that the 'faucets aren't open, but there still is a trickle of activity coming in'. Pre-COVID, we were seeing 40-50 sales each week. Last week we saw 31 sales, which is still quite a busy week for the market. This week, however, had a big reduction in sales, with a total of 15. That's a 50% drop from last week!

66% of the deals sold in multiple offers, that’s absolutely amazing, we know the buyers that are still in the market are serious but that’s the highest # as a percentage we’ve seen since David's been tracking this!

This week and last week both had 15 new listings. It's nice to see that we are trending towards a stable ground. It appears as though, we're at the bottom, from a transaction standpoint, where we won't see much fewer than 10-15 sales each week. This could be cautiously good news for Sudbury. With numbers close to bottoming out, and market activity still trickling in; if this is the worst Sudbury is getting I think this is an overall positive.

I hope you guys are enjoying the pause, staying safe, and doing your part with social distancing. Thanks again to those in healthcare, grocery and retail workers, and any other essential businesses for you going to work so we can stay home and do our part.

Tune in and let us know what your thoughts are on today's episode of Selling the Rock! If you're wondering what these numbers mean for you, David is happy to hop on a virtual call to answer all of your questions. Don't forget to show your support for Lake City Realty's Selling the Rock Podcast! It's one of the ways that allow us to continue to connect with our local Sudbury community during times like these. Like, share, comment or leave a review! Your support truly does mean the world to our team!

Hey everyone! Here's last weeks 'weekly wrap up'! We're sorry it's coming at ya a few days late, but we hope everyone had an awesome Easter weekend!

David shares his thoughts on last week's market stats! There was a shocking number of sales; a total of 31! Nine of which happened with multiple offers! There were only 15 new listings; which is definitely good to see as it paints the picture that people are staying home and playing their part in flattening the curve. 5 new construction sites were listed - a surprising stat to see, considering Doug Ford's announcement on construction holds.

The amount of sales for the week seem to confirm David's overall guess of where the market is going. We've had a lot of talk internally at Lake City Realty. Initially, we were happy to enjoy this pause on life and sit on the sidelines. However, there has yet to be a light at the end of the tunnel. Everything is pointing to this being long term and things are not going back to normal as quickly as we'd hoped. It's time to have more in depth conversations with our sellers of how we can virtually expose their homes to buyers. Clearly, there's an appetite for houses, given the stats for last week.

Bringing the weekly wrap up to a close, David chats about what the spring market will bring in Sudbury. So, TUNE IN and let us know what your thoughts are!

If you would like to reach out to us or receive our weekly emails with similar content, you can sign up onour website!

And of course, cheer us on! Like, comment, subscribe or leave a review to let Dave know how Selling the Rock has brought value to your daily lives!

Hey everyone! Welcome back to Monday's episode of Selling the Rock - your local Real Estate podcast!

Today we have David Kurt and Tristan Ritchie coming at you live to unpack the perfect listing and seller in this crazy world that we're in right now! They discuss how our team at Lake City Realty is working to prepare ourselves and adapt our operations as there doesn't seem to be an end in sight for COVID-19. If you are a serious seller or are in a position where you need to sell your home right now, we want to be there to help you through the process in the safest, most efficient way, while still doing our part to flatten the curve.

Tristan chats about his upcoming listings and fills us in on how operating is different today for a seller than what it was in the 'pre-covid' a few weeks ago. He also outlines what first meetings look like with sellers and addresses the conversations he is having with them around preparing their home to be able to be shown virtually.

David and Tristan flow through the process of what it looks like to list and have your house on the market. Our team wants to be there for you in some way, shape of form! If you don't have the option to put selling or buying a home on hold right now, you're not going to want to miss this episode of how we can accommodate virtual sales!

We appreciate all of our listeners! Feel free to tell us what kind of topics you're burning to know more about! Give Selling the Rock a like, share or review if you enjoy our weekly conversations and content!

Hey everyone! It's Wednesday, April 1st! Which means TWO things! First off, Happy April Fools' Day! I guess we have COVID-19 to thank for all of the well thought out pranks given the abundance of extra time on everyone's hands! Secondly, we're dropping another episode of Selling the Rock - you're Sudbury Real Estate Podcast brought to you by the one and only, David Kurt!

Coming together as a community is so important right now. Taking the opportunities to support small businesses is truly the backbone of the environment. It is these small businesses that are hurting the most. Today, David goes over a few ways that you can help out local businesses in our community! For starters, ordering take out is a great way to show your support for #local! The Government has also given the green light for ordering alcohol for takeout. This is something we have never seen before and we're excited! Have you been craving your go-to tall can or fav bottle of wine? Order in and enjoy each sip in the comfort of your own home! If you are fortunate enough to have a little bit of extra money flowing in, ordering takeout once a week goes a long way in helping these businesses stay on their feet. Buying gift cards is another great way to support local Sudbury businesses! This could be what they need to get through these tough times. Personally, we couldn't think of a better gift to give your friends, family and colleagues right now. We're sure all of us our dreaming of being able to celebrate the end of social distancing in a local restaurant or shop with loved ones!

It's been amazing to see Sudbury really come together. We are a community that cares. A community that goes the extra mile when it comes to supporting each other. Do what you can to help out our small businesses.

To end off, we'd like to remind everyone that there is still time to enter our Quarantine Colour Contest! Tomorrow is the last day to enter!! If you haven't already, you can find the printable colouring sheet on our Facebook page! Post a photo of the finished masterpiece and TAG US on either Facebook or Instagram! One lucky artist will be drawn at random to win a special prize delivered to their doorstep! The winner will be announced Friday, April 3rd!

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Facebook: Lake City Realty LTD. Brokerage, Sudbury - Team Kurt Real Estate

We appreciate all of the love, support and feedback! If you enjoy our content or have any topic suggestions -- reach out and let us know! Like, share, subscribe or leave a review!

Hey everyone! I'm sure by now we are all feeling a little stir crazy. So, we're here to brighten up your day! We've got David on the mic for this Monday's episode of Selling the Rock - you're Sudbury Real Estate podcast! Tune in to hear him unpack the question "Do tenants have to pay rent April 1st?"!

The announcements that both the federal and provincial governments have made have led tenants to believe that they don't have to pay their rent. This, however, is not the case and can be a tad frustrating for investors. David has yet to hear from anybody that has faced a situation where their investment properties have qualified for mortgage deferrals. So it's important for tenants to realize that their landlord will likely be in a position where they have to pay rent. However, as a landlord, it is so important to be reaching out and having conversations with your tenants. Ask them if they are struggling financially and let them know that if they are in a tough position, you are completely happy to work with them over the long term. Remember that your tenants are your clients; they deserve to be treated like people.

To clear the air on the announcement made, the landlord/tenant board is temporarily dismissed and tenants will not be able to get evicted. However, they are still expected to pay rent, even if that means playing catch up in the future. It's wild to think that this is the first time we've ever had a self made depression/ recession. We have made the choice to turn off the switch. It's certainly not going to be easy to turn the switch back on.

David wraps up this episode with his glass half full - with all of this isolation, so many of us have never felt more connected. And that is exactly what we aim to do with Selling the Rock. So, tune in and connect with us. We'd LOVE to hear your thoughts and concerns on today's topic. Please let us know how we're doing and like, subscribe and share with the people in your circle!

Hey everyone and welcome back to another episode of Selling the Rock - your local Real Estate podcast! This week's wrap up is a bit of a heavy one, so we apologize in advance!

Here we go! David has the stats for the last 7 days, and quite frankly what we're seeing is both shocking and unexpected. There has been an increase in the number of sales and new listings this week! Which is sad to see right now as it paints the picture that people are not taking social distancing seriously and are not doing their part to flatten the curve. David also brings one of the top concerns in the marketplace right now to the table.

You're not going to want to miss this week's wrap up! Make sure you're on the lookout for Monday's episode, where David dives deeper into whether or not tenants are going to be paying rent on April 1st.

Want to connect over virtual coffee? Click here! We'd love to hear your thoughts and concerns!

We appreciate all of the support and feedback! Let us know how we're doing - like, share, comment or leave a review if Selling the Rock adds value to your daily lives!

Hi everyone! Welcome back to another episode of Selling the Rock - your Sudbury Real Estate news! We hope everyone is staying safe and doing whatever they can to contribute to flattening the curve. It's been quite amazing to watch communities come together - we're seeing so many industries step up all around the province to help pool resources that are in demand.

David discusses the release of the list of essential services and workplaces that can remain open. Brokerages and real estate agents are allowed to remain open for business. We are here to help clients that are in immediate needs - whether they are in the midst of a move or whether they're in a position where it's a necessity for them to be in a house. We are still here.

David praises the president of the Real Estate Association's leadership and guidance on how to best act and do your business during these interesting times. Even though we have been listed as an essential service that can remain open for business, we should fully realize that face to face meetings should not be happening at all. It is so important that we all practice our own version of social distancing.

During these dark times, David shines light on the good in all of this. It's almost like life has been paused and we're able to spend our time enjoying each other...enjoying our families. Both teachers and nurses deserve a huge shout out. I'm sure the last two weeks of social distancing has caused a lot of parents to appreciate the level of patience teachers have for kids. And nurses, well they are the heroes of all of this. We can't thank them enough for being brave and continuing to be there to support our community while facing scary unknown waters with shortages of supplies and staff.

At Lake City Realty, we've always stood behind our belief that NO deal is more important than the client. This is exactly what we're looking at now: people's health, the community...the individual comes before anything else. Hopefully you are all staying safe and doing whatever you can to practice social distancing. Hopefully we can see the affect of communities rallying together.

Want to connect over virtual coffee? Click here! We'd love to hear your thoughts and concerns!

We appreciate all of the support and feedback! Let us know how we're doing. Don't be shy, tell us what kind of topics you're burning to know more about! And of course - like, share, comment or leave a review if Selling the Rock adds value to your daily lives!

Hey everyone! Another week has come to an end, which means it's time for our weekly wrap up episode of Selling the Rock - your Sudbury Real Estate podcast! Honestly, we're in crazy times right now!

David dives into this weeks stats! There were 29 firm sales and 11 conditional deals equaling out to 40 possible deals that have happened this week in the market. The number of new listings is 42! This just goes to show thatthere is still a lot going on in the market place. 10 out of the 29 sales were in multiple offers, meaning there were ten people that were motivated and focused to move ahead and find their ideal home. Despite everything that's going on, we are still dealing with very serious buyers.

David explores how COVID-19 might affect the market place on a short term, medium term, and long term basis. It's scary times for all of us and you're not going to want to miss out on this week's wrap up and glance into the future of Sudbury's real estate market!

So, tune in! We'd love to hear what your thoughts are on dealing with COVID-19. Your support means the world to us! Like, share, subscribe or leave a review!

If you would like to reach out to us or receive our weekly emails with similar content, you can sign up on our website!

It's Monday, which means it's time for another episode of Selling the Rock - your Sudbury Real Estate podcast! That's right, COVID-19 can't rain on this parade!

Let's face it, COVID-19 has affected our daily lives and routines - it's been on everyone's mind...and with good reason! Today, David talks about how it has already impacted the real estate market. Buyers are opting to stay home and some sellers that were prepping their house for the market are deciding to hold off until they know how COVID-19 is going to play out. Of course, there are still motivated buyers, so David chats about how to advise clients to proceed with caution.

From a real estate perspective, we've just heard that our annual general meeting is cancelled! The Sudbury Real Estate office has also closed its doors to the public for the time being. Even here at Lake City Realty, some of our admin staff feel more comfortable working from home. We are so lucky to have a job that allows us the mobility to work from home or remote locations. We acknowledge the importance of putting appropriate measures into place and are following them the best we can.

One of the things that we've always believed in is being cutting edge - and utilizing technology to aid our sellers in selling their homes. 3D Images, virtual walk throughs and Facetime tours are more valuable than ever! They provide an avenue for you to explore homes from the comfort of your living room...cozy in pajamas!

David continues to hone down on how we at Lake City Realty can accommodate buyers and sellers amidst the current COVID-19 circumstances. Technology allows us to continue to communicate. It allows us to be present. And it allows us to be readily in touch with others. It's important to take advantage of its power and reach, especially as a real estate agent during this time.

So, tune in! We'd love to hear what your thoughts are on dealing with COVID-19. Your support means the world to us! Like, share, subscribe or leave a review!

If you would like to reach out to us or receive our weekly emails with similar content, you can sign up onour website!

Happy Friday the 13th and welcome back to another episode of Selling the Rock - your Sudbury Real Estate podcast! I'm sure everyone's up to date with news on COVID-19. It's been an interesting week to say the least.

Today, David is on the mic to give you this week's market round up! No doubt COVID-19 makes its way into his thoughts on the rap up! In the last 7 days we've seen 50 sales, which means the market place is still active! However, the number of new listings is small compared to what we need to replenish the market place.

David ponders the question "What's pushing people off the market place?" and chats about his favourite listing of the week!

If you would like to reach out to us or receive our weekly emails with similar content, you can sign up on our website!

So, tune in and please share, like, subscribe or leave a review! We love and appreciate your continued support!

Hi and welcome back to another Monday of Selling the Rock- your Sudbury Real Estate podcast!

A lot of people keep renovations in mind when looking to buy a home. So a huge question is how to finance renovations on top of your purchase!

If you've asked yourself this question, this podcast is for you! David explores options that are there to help you afford those pesky renovation costs along with your purchase! David sits down with you to tell you ALL about the up's and down's of financing your renovations into your mortgage. He provides you with example costs using all the real life math that goes with it! And, most importantly, he touches on what you need to have in order when you qualify!

Be sure to like, subscribe, share and comment! We wouldn't be able to keep this up without your support! Let us know if you have any questions you'd like answered by a realtor!

Check us out here.

Welcome back to Selling the Rock- your local real estate podcast!

We're happy to have David back from a conference where the OREA hosted a show called Reality 2020. In this episode David takes a glance at what the future of real estate might look like, especially with the changing landscape of technology. The current Sudbury market is beginning to reflect Toronto's 2017 market - so keep your ears open if you want to know how this affects both sellers and buyers. If you are a buyer, you might find the marketplace frustrating. However, if you're a seller- you're in luck!

He also dives into which areas first time home buyers are looking at and what that price range can get them. But don't be worried, realtors are here to help you navigate the market!

If you liked this episode, be sure to give Selling the Rock a like, comment or share! We appreciate the support!

If you want more content or want to connect, click here.

Hello and welcome back to another episode of Selling the Rock!

Today David is here to tell you about multiple offers from the seller's perspective! This is a continuation of the last episode regarding multiple offers. David walks you through the ups and downs of multiple offers and offer dates. He also touches on the $1 listing and what it's like being in the seller's shoes receiving multiple offers. Confidence can both hinder or benefit a seller who is predicting to receive multiple offers.

As a seller, it is important to note that 55% of the new listings have sold close or over asking which points signs to competition and multiple offers!

Be sure to like, comment, subscribe and share- the support is appreciated!

Did you know you can listen to our podcast on our website? Click here!

If you're looking to buy, sell or just get more information on what's on the market, check out our website: www.LakeCityRealty.ca

Hello and welcome back to another episode of Selling the Rock- you Sudbury Real Estate Podcast brought to you by Lake City Realty! Our goal is to give our listeners an update on the Sudbury real estate market and educate them about the real estate world to make their experiences more enjoyable!

Today's episode, David is taking a deeper dive into a topic we lightly covered in the past- Multiple Offers. Multiple offers can get tricky pretty quickly if the agent isn't prepared for it. If you were to present an offer on a home and it was registered, then someone use came and presented an offer and it was registered, the agent would have to inform you that you're now in a competition and give you time to adjust your original offer... you can see how this can get complicated if there was a BUNCH of offers, right? There's a lot of back and forth and this process should happen every time an offer comes to the table. This process can be more organized with offer dates.

Our advice? Go in with what you're comfortable with and don't go over what your comfortable limit is! Always have the conversation with your agent about how much you are willing to spend on a certain home- especially if it becomes a competition.

If you'd like similar content to this or would like to get into contact with us, check out our website!

Please like, comment, share and subscribe! It's super appreciated! Thank you!

Hello and welcome back to another episode of Selling the Rock- your Sudbury Real Estate podcast! Our aim is to bring you the news of the market, as well as educate our listeners on the real estate world to make their experiences within more enjoyable!

This weekly round-up David brings some VERY interesting news! In the last 7 days, there have been a whopping 45 new listings! Last week there was only 30! We believe this is because agents around Sudbury are telling their sellers how hot the market is lately so, the sellers are no longer waiting for that springtime market! Further, in the last seven days, there have been three million-dollar homes go up on the market!

Also this week, 54% of the homes sold were sold close or OVER asking price! Listings are beginning to go up with offer dates and David will tell you what that means along with all of his predictions for the week to come!

If you would like to reach out to us or receive our weekly emails with similar content, you can sign up on our website!

Please like, share, comment and subscribe! It's greatly appreciated!

Hi there and welcome back to another episode of Selling the Rock- you Sudbury Real Estate news! Our goal with this podcast is to teach people about the real estate process and help make them more aware of what to expect when buying, selling or looking for a house!

David Kurt is back from his trip to host today's episode about looking for homes online! This can be quite a tricky process with all the online market places around now of days! The majority of the listings within Canada can be found on Realtor.ca! It's probably the best place to look online according to David. However, you can check Kijiji or the Facebook Marketplace (let's be honest, the Facebook Market place is taking over Kijiji anyways), but you may run into expired posts as those websites don't have the most updated information.

Our advice? Talk to a real estate agent that is an expert in the area you're looking for. They usually have the best information about what the market is like in that area and more.

You can check out listings and get in contact with us through our website if you have any more questions!

Don't forget to like, share, comment and subscribe! The continued support is greatly appreciated!

Hello and welcome back to another episode of Selling the Rock- your Sudbury real estate podcast! Our goal with this podcast is to educate the listeners on the real estate market and process so the experiences they have with real estate are much better!

Today, Tristan goes solo to tell you about the area of real estate which he has a ton of experience in- rental properties! He's here to tell you about why the wild market we're in right now makes it a great time to invest in a rental property! He provides other reasons like the high desire for rental properties, undervalued properties, rent prices and much more! So, if you've been thinking about investing in a rental property this is definitely an episode you're going to want to listen to!

Be sure to like, subscribe, comment and share! We really appreciate it!

Happy Valentines Day and welcome back to another episode of Selling the Rock- you Sudbury Real Estate podcast! Our goal with this podcast is to bring you the news regarding Sudbury Real Estate and educate our listeners to make their experience with real estate much better and easier to understand!

Today, Tristan is bringing you this week's market round-up while David is on a MUCH deserved vacation! The market saw more solds than new listings this week which is something we usually don't see! Plus, the number of new listings is considerably low compared to the summer where we might see 20+ listings in one day! Tristan shares with you numbers of listings, solds, and sold pendings AND the experience he had showing homes to a client in this intense winter market we are having!

So, tune in and please share, like and subscribe! We appreciate all of your continued support!

Hello and welcome back to another episode of your Sudbury Real Estate podcast- Selling the Rock! Our aim is to educate and provide advice on all things real estate!

Today, Tristan is on the mic to discuss the idea of upgrading or downsizing your home. Whether you're looking to upgrade due to a growing family or downsizing due to retirement or because of cost, there are some things you need to consider. The market has a large impact on when or if you are going to buy that new home. The last thing you want is to have an extra home you can't afford or not to have a home because you couldn't find one. Tristan is going to tell you how to avoid those and other, issues that may arise when you are looking to upgrade or downgrade your home!

Be sure to like, subscribe, and share! The support is super appreciated!

Hi there and welcome back to Selling the Rick- your Sudbury Real Estate Podcast!

Today David is back with another weekly round up! This week there was a total of 34 new listings (3 resales and one conditional sold)! He's going to tell you how many sold, the stats on Lively and the Southend, and how the spring market can't come soon enough!

Hello and welcome back to another episode of Selling the Rock- your Sudbury Real Estate Podcast!

Today, David is here with a lot of helpful information that will help you understand what kind of homes are selling in Sudbury and what type of people are buying them! We think you'll be just as shocked as we were!

Be sure to like, subscribe and share! The help spreading the word about this podcast allows us to keep coming at you with these educational episodes that will hopefully help you invest in your future!

Hi there and welcome back to another episode of Selling the Rock!

Have you ever wonder how we got to be Lake City Realty and what our logo means? David Kurt is here to explain how he got into realty, discovering the kind of business he wanted to run, creating our logo and MUCH MORE.

You're not going to want to miss this one!

Don't forget to like, share and subscribe! Your support means a lot!

Welcome back to another episode of Selling the Rock- your Sudbury Real Estate podcast!

It's Friday which means it's time for your weekly roundup of what is happening here at Lake City Realty LTD., Brokerage and the Sudbury Real Estate Market!

Spoiler: the market is still HOT!

Be sure to like, share, subscribe and all of that stuff! Your support is continuously appreciated!

Welcome back to another episode of Selling the Rock!

We recently lost a LEGEND in the basketball community BUT, also in the business community. Kobe was much more than an excellent athlete. We can learn from him as an athlete, parent, and a businessman.

To honour him on our end, David is on the mic to tell you what we can learn about business from Kobe.

Rest easy, Kobe.

Be sure to like, subscribe, and share! Your support is super appreciated!

Hello and welcome back to another episode of Selling the Rock- you Sudbury Real Estate podcast!

We're starting a new segment here where we give you a weekly update on what's going on in the market, how we're doing, and the trends we are noticing within the past week!

Today is the first of that ongoing segment! Today, Tristan Ritchie and David Kurt are reunited on the mic and telling you all about the week (or so) they just experienced in real estate. It's been BUSY!

Don't forget to share, like. subscribe, share, and all of that! Your support is super appreciated! It helps get the word out and allows us to reach our goal which is, ultimately, to educate people on all things real estate!

Hello and welcome back to another episode of Selling the Rock!

This is the last episode of our 3 Tips For Staging segments with Kelly Wilcock! You may not think that the bathroom would be an important room to keep in mind when selling your home, but it is something you should consider having ready when your house gets listed! If you're unsure about how to have your bathroom stage and showing ready, Kelly and David are here to help you out with that!

Be sure to like, subscribe, share, comment and all of that! We appreciate the continued support!

Welcome back to another episode of Selling the Rock- your Sudbury Real Estate news!

Chances are, your bedroom is more cluttered and crowded than you think. Or, at least for showing standards. Your master bedroom is your own personal space that is put together especially for your comfort, we get that. But, like the other rooms discussed in these segments so far, decluttering and depersonalizing a room is really what is going to help other people seeing themselves in the home.

We have you covered with what you should focus on and tips that will help with Kelly Wilcock and David Kurt. These professionals are here to make sure your home shows beautifully!

Let us know what you think and be sure to like, subscribe, share and all of that! The support is greatly appreciated!

Welcome back to another episode of Selling the Rock- your Sudbury Real Estate news!

Livingrooms are known for being a comfortable and cozy hang out spot- but, that's not what you want your living room to be like if you're selling your home!

Lucky for you, we are continuing our 3 Tips for Staging segment with Kelly Wilcock! She and Dave are joining up today to tell you the best way to have your living room set up for showings!

Let us know what you think and be sure to like, subscribe, share and all of that! The support is greatly appreciated!

Hello and welcome back to another episode of Selling the Rock- your Sudbury Real Estate Podcast!

Today, David is joined by Kelly Wilcock! She stages homes for a living while working on her realtor course! She and Dave have teamed up for this episode (and the next few) to give you some tips for how to stage the important rooms in your home! Here at Lake City Realty, we do everything we can to ensure your home shows beautifully!

So, tune in and enjoy!

Don't forget to subscribe, like, share and, if you have any questions you'd like answered by a realtor, let us know!

Welcome back to another episode of Selling the Rock!

Today, Tristan is joined by our co-op student Jacob Matthew Murickan! He is an International Business Management Student from Cambrian College! He is doing a project here at Lake City Realty LTD., Brokage about bringing international investors in Sudbury. His project looks at property as an investment and he has learned some very interesting things about the market in Sudbury! You're not going to want to miss this episode if you're buying, selling or renting!

Let us know what you think, or if you have a question you would like answered by real estate experts!

Don't forget to like, subscribe, share, comment and all of that jazz!

Thank you for all your support!

Hello and welcome back to another episode of Selling the Rock- your Sudbury Real Estate Podcast!

Today, our very own Sophie Demore is joining David Kurt on the mic to tell you about what the process of becoming a realtor is like! So, tune in and get ready to learn!

Don’t forget to like, subscribe and share! The support is appreciated!

Welcome to the 25th Episode of Selling the Rock- your Sudbury Real Estate News!

Today, Tristan is coming at you solo to tell you about how to be an efficient buyer in the current real estate market! There is a lack of sellers in the market and a bunch of buyers who are actively looking- here's how you're going to beat the competition!

Be sure to like, subscribe, share, comment and all of that stuff! The support is continuously appreciated! Thank you so much!

Welcome back to another episode of Selling the Rock- your Sudbury Real Estate Podcast!

Today David Kurt tackles the question of how much house can someone afford to buy! He lays out what costs will come up that some people tend to be shocked about, what will be taken into consideration and much more!

So tune and get ready to learn!

Please like, subscribe, share, comment, download and all that! The support is continuously appreciated!

Hello and welcome back to another episode of Selling the Rock- your Sudbury Real Estate Podcast!

How many houses you should look at before you make an offer on a house is not an easy question to answer and David Kurt is here to try and answer that question! In reality, the answer to this question will vary on the type of buyer!

So, tune in and get ready to learn!

Be sure to let us know what you think, like, subscribe, share, comment and download! We appreciate your support!

Welcome to 2020 and to another episode of Selling the Rock- your Sudbury Real Estate Podcast!

Today, David and Tristan are here to share with you their predictions of what will happen to or in the real estate market this year! Monday's episode was their 2019 wrap up of what shocked them the most in 2019 in the market. If you haven't check that one yet, be sure to!

Let us know what you think and don't forget to lie, subscribe, comment, share, and download!

Happy New Year, let's make this one a great one!

Hello and welcome back to Selling the Rock- you're Sudbury Real Estate Podcast! We hope you all had a wonderful holiday!

Today, David Kurt and Tristan Ritchie are here to tell you about what shocked them the most in real estate in 2019!

Keep an eye out for the follow-up episode where they share their 2020 Real Estate predictions!

Be sure to like, comment, share and subscribe!

Welcome back and we hope you had a wonderful holiday!

Tristan Ritchie is still flying solo in this episode about how to select an agent for selling your home! This is a bit different than selecting a buyer agent because your wants and needs are going to be different than if you are buying a home!

Do you have a real estate question you would like answered by experts? Let us know! Be sure to share, comment, and subscribe!

Welcome back and Happy Holidays!

Tristan is flying solo again and here's here to tell you about Buyer Agent Interview! Selecting an agent may not seem like an important step in buying a house, but it actually is! You're going to want an agent that fits you and understand you! Tristan is here to tell you what to ask and look for in a buyer agent!

Keep an eye out for Friday's episode where Tristan will tell you about a Seller Agent Interview!

Do you have a question you would like anserwed by experts?! Let us know! Don't forget to subscribe, comment, and share!

Welcome back to another episode of Selling the Rock!

Today Tristan is flying solo! Here's here telling you all about how to live for free! This ties into an earlier epsiode on Buying Your First Rental Property! So, if you havent checked that one out, defintiely head over to the episode and listen! The information of that epside and this one combined will allow you build a property portfolio AND live for free! And who doesn't want to live for free?!

Do you have a question you would like answered by experts? Let us know! Don't forget to like and subscribe!

Welcome back!

Today, David and Tristan are telling you what they consider when buying a home in Sudbury! If you're looking to buy a home in Sudbury, you're definitely not going to want to miss getting a realtor's experience on this!

If you have a real estate question you would like answered by experts, let us know!

Welcome to another episode of Selling the Rock, your Sudbury Real Estate Podcast!

Today, David and Tristan are debating which is better- buying a fixer-upper or a finished house! Of course, everyone has their preference, but these two realty experts are here to tell you which they prefer and why (along with some pros and cons)!

Do you have a question you would like answered by realty experts?! Let us know!

Selling in the winter?! This idea is crazy to some people! There is a fear of the actual moving process in the cold and snow- but, even worse, the fear of a stale listing! However, the thought of selling in the winter doesn't need to so scary! David Kurt is here to tell you why and how to go about selling your house in the winter! So, if you've been having cold feet about selling your home in winter, you're definitely going to want to tune into this one!

Do you have a real estate question you would like answered by experts? Let us know!

Comparative market analysis(CMA) and appraisals are used to figure out where to price your home at. Although they have the same overall task, the execution and exact purpose are different. This is a pretty important distinction if you are looking to sell your home! But, don't worry! David Kurt is flying solo this episode to inform you of everything you'll need to know about CMA's and appraisals!

So, tune in and get ready to learn!

Do you have a real estate question you would like answered by experts? Let us know!

Welcome back to another episode of Selling the Rock- your daily Sudbury real estate news!

Today, David and Tristan tell you about final walkthroughs!

There's some misconception about what they mean, how long they should be and the intended purpose of the final walkthrough! Lucky for you, our experts are here to clear that up!

Tune and get ready to learn!

Do you have a real estate question you would like answered by experts?! Let us know!

Welcome to another episode of Selling the Rock- your daily real estate podcast!

Today, David and Tristan are talking about deposits. To form a contract, you need something called consideration; that's what a deposit is! The size of the deposit and the time period it is reciveved in can impact your purchase of a home! David and Tristan get into some of the legal stuff, terminology and everything you'll ned to know about putting a deposit on your home!

Tune in and great ready to learn!

Do you have a real estate question that you'd like answered by experts? Let us know!

Welcome to the newest edition of Selling the Rock! If you are a buyer or looking to buy a home, TAKE NOTES. David and Tristan are here to tell you about Buyer Representation forms! This is a mandatory form that must be signed by the realtor and the buyer when a purchase of a home is happening- this form is a commitment between the realtor and buyer. This form has become a hot take in the realty community in regards to binding the realtor and buyer, the commission liability, and more!

So, tune and get ready to learn!

Do you have a real estate question you would like answered by experts? Let us know!

This is the 10th episode of Selling the Rock! In this episode, David Kurt and Tristan Ritchie discuss agency! This discussion s important because it's about client vs. customer! Client vs. customer defines the obligations, duties, and information a realtor can give a person before they transition from customer to client! These experts also discuss the forms that help solidify the difference between those relationships!

This is definitely an important episode whether you are a realtor, buyer or seller! So, tune and learn all about it from your favourite realty experts!

Buying your second home is a pretty big decision to make- David and Tristan understand that! This is why they are here to talk to you about what to expect and how to go about it! If you or someone you know is thinking about stepping into your second home, this is definitely an episode you're going to want to tune into!

Do you have any real estate questions you would like answered by experts? Let us know people!

Your cooperation policy is an important part of selling your home and there's going to be some changes in what the cooperation policy can do soon! David and Tristan discuss the current policy, the problems with it, and the changes expected to come! This is definitely something you're going to want to listen in on if you're thinking of selling or buying a home, or just interested in learning about how real estate works!

Do you have any real estate questions you would like answered by experts? Let us know!

Here's another episode of Selling the Rock, your daily real estate news! In this episode, David Kurt and Tristan Ritchie discuss stale listings and how to refresh them! This is obviously a VERY important part of selling a home since the home may be on the market for a bit longer than expected!

Get ready to learn about this important aspect of reality and tune in!

Do you have any real estate questions that you would like answered by real estate experts? Let us know!

In the sixth episode of Selling the Rock (your Sudbury Real Estate news), David Kurt explains the difference between Foreclosure and Power of Sale! David goes into the possible issues that may come up and the reality of obtaining these properties. These properties seem like a sweet deal but, that isn't always the case!

Get ready to learn and tune in with David Kurt to find out more!

Do you have any real estate related questions you would like answered? Let us know below!

How important are the first two weeks on the market? In this episode, David and Tristan discuss getting your house ready for the market and the market ready for your house with professional photos, coming soon ads, and so much more! These experts share the way they get homes ready for the market and how they get the most results for their listings! Get ready to learn with these real estate experts and tune in!

Do you have any real estate questions that you want to be answered? Let us know below!

In this episode of Selling the Rock, David talks about this year's election! It may or may not come as a shock, but the result of an election can have an impact on the market! Thankfully, David is here to tell you all about it and keep you informed! So tune in and find out all about it!

Do you have any real estate questions you would like answered? Let us know!

Have you ever wanted to own a rental property?

Does Sudbury have neighbourhoods? Do you believe they exist in Sudbury?

In this episode David and Tristan discuss if neighbourhoods in Sudbury exist and how Sudbury neighbourhoods are divided. They compare to the neighbourhood structures to neighbourhoods you would find in bigger cities like Toronto, where they would and wouldn't live, what 'neighbourhoods' are up and coming- and much more important facts and opinions regarding Sudbury neighbourhoods!

Tune in and let us know your opinion on our Facebook page 'Lake City Realty'!

Welcome to Lake City Podcast's first ever podcast! Selling the Rock is your stop for your daily real estate news in Sudbury! We're here to answer all your questions regarding the market in Sudbury, how it differs from other cities, and much more!

In this episode of Selling the Rock, we're discussing multiple offers in the Sudbury real estate market!