HAMILTON REAL ESTATE UPDATE

Please don't hesitate to reach out for detailed stats that are specific to your neighbourhood, or even if you're just curious about what the house down the street sold for – it'd be great to hear from you!

Bank of Canada Rate Update

The Bank of Canada announces second consecutive policy rate cut.

In a scheduled announcement on Wednesday, July 24th, the Bank of Canada reduced its target once again for the overnight lending rate from 4.75% to 4.5%.

The move was widely expected by financial markets and marked the Bank’s second rate reduction since the onset of the pandemic four years ago, bringing rates down to where they stood in April 2023.

The Bank noted that Canada’s economy picked up in the first half of 2024 but at a slower pace than population growth, while consumer spending and housing are showing signs of weakness.

The Bank continues to note that employment has been rising at a slower pace than working-age population growth, of which the latter is expected to grow at a stronger pace than previously expected.

According to the Bank, Canadian economic growth is forecast to pick up over the remainder of this year and over the course of 2025 “as borrowing costs ease”, implying a continued unwinding of tightness in monetary policy that should provide a boost to exports, household spending, and business and residential investment.

The Bank continues to focus on elevated shelter costs as a significant contributor to inflation. However, it also noted that both headline and core measures of inflation have moderated and are close to historical norms.

In its Monetary Policy Report, the Bank also made special note of several challenges impacting housing supply growth such as municipal zoning restrictions, high development fees, time-consuming permitting processes and shortages of skilled construction workers.

Although excess supply in the economy is lowering inflation, the Bank is also monitoring shelter and services costs which are pushing inflation in the opposite direction. The Bank has stated that “monetary policy decisions will be guided by incoming information” and their assessment of its implications for the inflation outlook.

The Bank of Canada will make its next scheduled interest rate announcement on Wednesday, September 4th and will publish its full outlook for the economy and inflation in its next Monetary Policy Report on Wednesday, October 23rd.

Happy Closing Day!

Relocation, Relocation, Relocation

Moving to a new city for a new job can be an exciting yet overwhelming experience.

The prospect of relocating to a new city for work means you'll need to be well organized as there’s usually not much time to get acquainted with the new area.

Before you make your move, consider factors such as workload and travel expectations, along with job opportunities for your spouse and schools for the kids. Here are a few other points to keep in mind:

Time Is Money
Investigate the cost of living in your new city and create a budget and a detailed timeline to help you stay focused and on track.

Recon Mission
Plan a trip to familiarize yourself with the local area. If it's too far to visit in person, check out a few community websites to get a better feel for the area.

Take the Credit
Employers often provide relocation packages to help offset expenses such as temporary housing and moving costs. There may also be certain tax credits available.

Professional Help
Arrange a home evaluation to find out what your home’s worth, and ask to be referred to an agent in your new city who can help get you acquainted with the local market.

Smooth Move
The best way to ensure a smooth move is to write out a plan of action that includes a detailed checklist that clearly states what needs to be done.

Deciding whether or not to relocate can be stressful. Not only are you trying to negotiate a new career but you'll also be starting a new life in an unfamiliar place.

However, if you pay close attention to all the details and plan everything out in advance, you'll set the stage so that you’ll be able to enjoy a smooth move.

Please don’t hesitate to get in touch if you have any questions or need any real estate advice!

For Rent! 132 Jackson St. E. in Hamilton. $3250.00

Click Here - 132 Jackson St E.

4127 Walcot Crt in Beamsville-Raised Ranch/Bungalow

Nestled in a Peaceful Beamsville Neighbourhood, this Home Offers a Tranquil Ambiance with Meticulous Attention to Detail. This Raised Ranch / Bungalow, Offers a Harmonious Fusion of Comfort, Functionality and Style in a Great Court Location. Features Include: Granite Counters and Quality Wood Cabinets in the Eat In Kitchen, Vaulted and 9 Foot Ceilings Throughout, Open Concept Design, Convenient Access to the Large Side Patio Deck, Offering a Perfect Setting for Al Fresco Dining or Peaceful Moments in Nature. Discover the Comfort of a 2 + 1 Bedroom and 2 - 4 Piece Bathrooms Which is a Perfect Set Up for an In Law Suite with a Separate Entrance. The Master Bedroom Offers a Serene Escape with a Walkout to the Deck, Dual closets (Including a Walk-In Closet), and Access to a Shared Four-Piece Bathroom, Providing a Private Sanctuary for Relaxation. The Basement Unveils a Cozy Oasis with High Ceilings and a Three-Way Gas Fireplace that Radiates Warmth and Comfort. The Lower Level Bedroom also has Walkout Access to the Backyard that Extends Indoor Living to the Outdoors, Enhancing the Spaciousness and Versatility of the Home. The Double Car Garage Provides Convenience and Ample Space for Parking and Storage Needs. Additionally, Utilize the Storage Area Underneath the Deck to Organize Items Effectively, Maximizing Functionality While Maintaining a Clean and Organized Outdoor Area. 

111 Nugent Dr. in Hamilton

This Fantastic Bungalow/Raised Ranch is Located in Beautiful East Hamilton Located Close to Everything!! This Home has Great Curb Appeal and the Pride of Ownership (One Family - Original Owners) is Evident Throughout. Outdoor Features Include: Double Wide Asphalt Driveway, Attached Garage, Covered Front Veranda and Large Fenced Backyard. As You Walk Inside, You’ll Appreciate the Original Hardwood, Spacious Foyer, Living Room, Dining Room & Kitchen with Plenty of Cabinetry & Counter Space, 3 Spacious Bedrooms and a Generously Sized 4 Piece Bath. You’ll Be Impressed with the Size of the Lower-Level with a Kitchen, Family Room with a Brick Wood Fireplace, Cantina, and Large Utility/Laundry Room & 3-Piece Bathroom. Another Feature is the Separate Side Door Entrance Leading to the Lower Levels which has Excellent Potential for an In-Law suite. Located Close to Schools, Shopping, Parks, Public Transit, GO Station, & Easy Highway Access to the Redhill and LINC Expressways and the QEW. This Home won't last long on the Market!

88 Broadway #304 in Toronto

Welcome to the 88 on Broadway Avenue Unit #304, This 2 Bedroom + Den Condo with 2 Bathrooms Features a Granite Counter Kitchen with Stainless Steel Appliances and Plenty of Counter Space. The 9'Ceilings and Upgraded Hardwood Throughout Allows You to Enjoy its Beauty Without the Hassle of Constant Upkeep and Creating a Sense of Richness that Resonates Throughout in Every Part of Your Living Area. The Primary Bedroom has a Walk in Closet and a Four Piece Bathroom. It has Amenities that Include: 24/7 Executive Concierge, Fully Equipped Fitness Studio with Top of the Line Cardio Equipment, Steam Room, Whirlpool and Swimming Pool, Party Room with Gourmet Catering Kitchen, Entertaining 9th Floor Outdoor Terrace with BBQ Facilities, and Children's Playground. This Unit #304 Includes One Parking Spot and 1 Locker Underground. Come and Experience Urban Sophistication and Elegance at the 88 on Broadway Unit #304, where Luxury, Convenience, and Style Come Together to Redefine the Art of City Living. 

10 Crossings Way in Hamilton

Located In Desirable Stoney Creek Mountain. Conveniently Located Minutes Away From The Redhill & Linc Expressways, Grocery Stores, Schools, Shopping, Conservation Areas And Hiking Trails. Features Include; 3 Bedrooms, 2.5 Bathrooms, 2 Parking Spaces (Garage And Driveway) With Plenty Of Visitor Parking, Open Concept Layout, Hardwood Flooring Throughout, Loads Of Natural Light, Bedroom Level Laundry, Beautiful Kitchen Featuring Granite Counter Tops with 4 Stainless Steel Appliances & the 2 Bathrooms on Second Level have the Luxurious Granite Counters. The Sliding Patio Leads To the Backyard With Adequate Outdoor Living Space. 

Getting Ready for School Daze

Going back to school can be a big adjustment after the lazy days of summer.

Getting back into the school routine after a peaceful summer can be hectic. Here are a few tips that will help make the transition a little easier:

Shop Early
The first few weeks of school are very busy and unpredictable, so be sure to purchase your back-to-school items as early as possible.

After School Plans
Start discussing extra-curricular activities, homework routines and household chores so that you can organize your fall schedule ahead of time.

Have a Hub
Hang a calendar in a central spot where everyone can write down their activities and attach a folder for notices and permission slips so that everything's in one place.

Sleep Easy
Ease back into the school routine by gradually adjusting bedtimes (and wake-up times) a week or so before school starts to help everyone get back into the routine.

Be Positive
Returning to school is an emotional adjustment for children so help them stay positive and ensure you’re around to help put them at ease.

Back to school doesn’t have to be about forgotten lunches, unlabelled belongings and lost permission slips. With a little pre-planning, you'll be able to enjoy the rest of the summer knowing that September will be smooth sailing.

Hamilton Real Estate Questions

Please reach out if you ever have any questions about the Hamilton real estate market, even if it’s just to find out what the house down the street sold for – it’d be great to hear from you!

P.S. Please let us know if you'd ever like a hand finding your dream home or even if you're just curious about what the house down the street sold for. We are always happy to help