Randy Miller

Broker Of Record

Urban Avenue Realty Ltd., Brokerage

Whitby & Brooklin Real Estate

Office 905-430-1800

Direct 905-430-9444

Email: randy@randymiller.ca

Categories

Trailfest Ajax

WHEN:    Sunday, May 31, 2015
WHERE:  Arbour Park, 55 Harwood Ave South, Ajax


There are 3 ways for families to participate:

  1. Approx. 38 km Ride with the Mayor.
    Registration at 9 a.m. | Ride starts at 9:30 a.m. * Some biking experience recommended
     
  2. Approx. 17.5 km Tour d’Ajax
    Registration at 9 a.m. | Ride starts at 9:45 a.m. * Great for single riders or families
     
  3. Family Walk & Stroll (approx. 3.5 km)
    Registration at 9:30 a.m. | Starts at 10 a.m. * A walk for the whole family


Trailfest Activities

  • Minor bike repairs at 8 a.m. Hosted by Northern Cycle
     
  • FREE BBQ* for registered participants
     
  • Bike decorating station for children
     
  • FREE Trailfest giveaways
     
  • Family yoga & stretch warm down at 11:30 a.m. and 12 p



For more information, route map and registration visit www.ajax.ca/trailfest!

Search Homes for Sale in Durham Region

Randy Miller
Broker of Record
Royal Heritage Realty Ltd.
Offices in Pickering and in Whitby
905-430-1800

 

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Highway 407 east extensionClick to enlarge

Once complete, the Highway 407 East project will help relieve congestion and support the efficient movement of people and goods through the eastern Greater Toronto Area and beyond. It will create opportunities for business, accommodate population and employment growth and provide emergency detour routes for Durham Region.

Hwy. 407 being extended across Durham Region

Provincial Transportation Minister Steven Del Duca, right, was in Oshawa on Tuesday, April 7 along with Durham Regional Chairman Roger Anderson, left, to announce the government has signed a $1.2-billion contract to extend Hwy. 407 easterly from Harmony Road to Hwys. 35/115 in Clarington. Work on the extension will begin in December of this year and be completed by 2020

Construction on extending the 407 from Brock Road in Pickering to Harmony is underway and is slated to be completed by the end of this year.   

Phase 2 will start in December of this year and will reach a north-south eastern link near Holt Road in Clarington, connecting Hwy. 401 and Hwy. 407, by December 2017. The remainder of Hwy. 407 east to Hwy. 35/115 will be open in 2020.   

In an interview Mr. Del Duca said he thinks this is an extraordinary opportunity and people and commercial goods will flow more smoothly.  

The 407 east from Brock Road in Pickering will remain in public hands and will be a toll road, he added.     Mr. Anderson praised the Province for moving forward with the extension east of Harmony.   

Mr. Anderson noted there are thousands of acres of land zoned commercial and industrial along the 407 that can be developed once the highway is in place.   

Mr. Del Duca said having the highway will create business and accommodate the growing population.    

He added the way the contract with Blackbird is structured, the company will cover any costs if the project goes over budget or the timeline isn’t met.   

Toronto is one of the only cities that doesn’t have a bypass, Mayor Henry said, and Hwy. 407 will give people (commuters) a different avenue to and from the city which will save people lots of time.

 The eastern link between the 401 and 407, running along Holt Road, will be called Hwy. 418.

Highway 407 East – Overview

The Highway 407 East project is comprised of three highways; these are Highway 407, Highway 412 (formerly known as the West Durham Link) and Highway 418 (formerly known as the East Durham Link).

Construction has started and will continue until 2020, when Highway 407 is open to traffic at Highway 35/115 in Clarington and the two connecting highways from Highway 407 to Highway 401 are completed. As announced, there is a seamless plan to extend Highway 407 from Brock Road in Pickering to Highway 35/115 with the following key dates:

By late 2015 – Phase 1 from Brock Road in Pickering to Harmony Road in Oshawa (22 kilometres), and Highway 412 (a 10 kilometre north-south highway that connects Highway 407 to Highway 401) will be open to traffic;

By 2017 – the initial portion of Phase 2 from Harmony Road to Taunton Road/Highway 418 will be open to traffic; and,

By 2020 – the remainder of Highway 407 (from Highway 418 to Highway 35/115) and Highway 418 (a 10 kilometre north-south highway from Taunton Road to Highway 401) are scheduled to open to traffic, completing the project.

Highway 407 is a separate entity owned and operated by the Province, connected to the existing 407 ETR. Initial tolls on Highway 407 will be lower than on 407 ETR.

Sources: - durhamregion.com, - http://www.highway407east.com/

Randy Miller

Broker of Record
Royal Heritage Realty Ltd.
Offices in Pickering and in Whitby

905-430-1800

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Sales and Price Up Year-Over-Year in March 2015

April 7, 2015. Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 8,940 sales in March 2015. This result represented an 11 per cent increase compared to March 2014. Sales were up for most major home types, both in the City of Toronto and the surrounding regions. New listings were also up, but by a lesser 5.5 per cent, indicating tighter market conditions.

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“Home sales increased compared to last year as the cost of home ownership remained affordable, with lower interest rates going a long way to mitigate the effect of rising home prices. However, a substantial amount of pent-up demand remains in place, especially as it relates to low-rise market segments. This suggests that strong competition between buyers, which has fuelled strong price growth so far this year, will continue to be experienced throughout the spring,” said Mr. Etherington.

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In March, the average selling price for all reported transactions was $613,933 – up 10 per cent year-over-year. The MLS® HPI Composite Index, which tracks benchmark homes with the same attributes from one period to the next, was up by 7.9 per cent. Average price growth was strongest for detached homes in the City of Toronto, at 15.9 per cent. Over the same period the detached MLS® HPI in the '416' area code increased 7.8 per cent.

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The MLS® HPI provides a clear indication of price growth due to market forces - the relationship between demand and supply. Comparing MLS® HPI growth to average price growth provides a sense of the changing mix of home types sold from one period to the next.

"It is clear that seller's market conditions in many parts of the GTA are driving price growth. However, looking at the detached market segment in the City of Toronto in particular, growth in the average selling price outstripped growth in the MLS® HPI. This points to the fact that the mix of detached homes sold this year compared to last has shifted towards more expensive properties," said Jason Mercer, TREB's Director of Market Analysis.

Increased Average Home Prices in Durham Region

Durham Region Association of REALTORS® (DRAR) President Sandra O’Donohue reported 1,086 residential transactions in March 2015.

This resulted in an increase of 14.7 per cent from 947 in March of last year. “The number of sales increased significantly year-over-year, however, we are still seeing less inventory compared to the same period last year” reported O’Donohue. Durham saw 1,527 new listings enter the market in March 2015 compared to 1,553 in March 2014. “This makes for competition between buyers and drives home prices up” explained O’Donohue.

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The average selling price in the Durham Region reached $430,291 in March 2015. In March 2014, the average price of a home in the Durham Region was $380,267. “Low interest rates are keeping home ownership affordable even with the rise in home prices” explained O’Donohue. Average price growth was strongest for townhouses in the Durham Region, at 15.3 per cent compared to the same period last year.

Competition between buyers has also had an effect on the sale price over list price percentage. “We have seen homes sell for an average of 101 per cent of the asking price. This is a factor that is driving prices up across the Durham Region, and is an indicator of a strong seller’s market,” explained O’Donohue. In March of last year, the average home sold for 99 per cent of its asking price.

"Durham is still experiencing a seller’s market. However, low borrowing rates are keeping home ownership affordable” explained O’Donohue. “Buyers continue to view home ownership within the Durham Region as a great long-term investment”.

If you are looking for a house in Durham Region or are already a homeowner and wish to move to a new house in Pickering, Ajax, Whitby, Brooklin, Oshawa, Courtice or Bowmanville, please contact me for more information.

Having sold real estate in Whitby and the Durham Region for over 20 years, I can help you with both - the buying and selling process. 

Randy Miller
Broker of Record
Royal Heritage Realty Ltd.
Offices in Pickering and in Whitby
905-430-1800

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Easter Egg Hunt Durham Region 

Are you ready for the Easter Bunny? Check out the following events to join in. 

Easter Egg Hunt in Whitby

When: Saturday, April 4th, 2015, 10:00am-11:00am
Where: Whitburn Park. (Beside Jack Miner Public School, 2 minutes southwest of Brock and Taunton, Whitburn Street, Whitby)
Cost: Free

Free Easter Egg Hunt. Saturday April 4th, 2015 at 10:00 am. Whitburn Park in Whitby. Free for children up to grade 5. Over 500 Eggs and Chocolates! Treats for parents too!

Brooklin Scouting Easter Egg & Scavenger Hunt

When:  Saturday, April 4th, 2015, 9:30 am to 3:30 pm
Where: Brooklin Kinsmen Park (Behind the Library at 8 Vipond St)
Cost: $5 per participant

The Scouts from 1 st and 2nd Brooklin are hosting an Easter Egg and Scavenger Hunt. For boys and girls aged 7 and younger, eggs will be hidden in the grass. Look for the specially marked ones for instant win prizes or gather the most number of eggs for one of the bigger prizes. For youth aged 8 to 13, test your keen eye sight and knowledge about the Environment, Nature, current story characters, Scouting and Brooklin by joining the Scavenger Hunt! Everyone is welcome! Bring your family, friends and neighbours! You can come with a group or by yourself. Loot bags for all participants and prizes for top scavengers and most eggs collected Crests for all Scouting / Guiding members.

For more information visit http://www.whitbyscouts.org/programs/pack/2015-easter-hunt.pdf.

Easter Parade in Pickering

When: Saturday, April 4th, 2015, 10:00 am to 12:00 pm
Where: Venue: Parade Route: East on Annland St. at Liverpool Rd. to Krosno Blvd. and along Krosno to Bayly St. in Pickering.
Cost: Free

The R.C.L, Branch 606 & the Ladies Auxiliary proudly present the Annual Easter Parade. Put on your best Easter bonnet, decorate your bike, wagon or doll carriage to win great prizes! Free lunch and activities at the Legion after.

Community Easter Egg Hunt in Ajax

When: Saturday, April 4th, 2015, 10:00 AM
Where: 1201 Ravenscroft Rd., Ajax
Cost: FREE

Join us for our annual Community Easter Egg Hunt. For children ages 2-12. There will also be singing, skits, and snacks. Preregister online by March 29. The younger children must be accompanied by an adult. Free.

The Downtown Cobourg Easter Egg Hunt

When: Saturday, April 4th, 2015, 10:00 am - 12:00 pm
Where: Downtown Cobourg
Cost: Free

Grab your Easter Basket and head Downtown to find goodies in your favourite participating shops! Little bunnykins can try to spot the Easter Bunny for an extra treat! Don’t miss in-store promotions, prizes and more!
Visit website

6th Annual Easter Egg-stravaganza in Oshawa

When:  Sunday, April 5th, 2015, noon - 3pm
Where:  Oshawa Municipal Airport1200 Airport Blvd2 lights west of Simcoe St. off of Taunton Rd.
Cost: $10 per family (food, drinks, pony rides & face painting are extra)

The Oshawa Airport Lions Club is pleased to host the Oshawa Airport Lions Club. Join us for a fun-filled afternoon hunting candy-filled Easter Egg, visiting with the Easter Bunny, and playing games. Easter Bunny arrives by airplane at 1pm.

Randy Miller
Broker of Record
Royal Heritage Realty Ltd.
Offices in Pickering and in Whitby
905-430-1800

 

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Rising house prices

Housing markets across much of province could be boosted by slumping oil and improving U.S. economy, economist predicts.

Toronto’s record house prices could soar a further 17 per cent by the end of 2017 as the lack of supply in the face of unrelenting demand continues to drive prices far beyond the rate of inflation, says the chief economist of Central 1 credit union.

Long-time housing watcher Helmut Pastrick says those who caution that Toronto’s market is in bubble territory and about to burst are based on “inadequate models” that ignore some key basics.

“The principal drivers of home prices are market demand and supply fundamentals. Toronto’s population is growing and supply is limited. Prices will keep rising until the next economic recession, whenever that is.”

Barring any unforeseen global crises, that’s at least two years off, predicts Pastrick, who’s studied the housing market for 40 years, 18 years as chief economist with Credit 1, the umbrella organization for about 130 credit unions in Ontario and B.C.

Ontario housing markets, with the exception of Toronto, have largely underperformed since 2001. But that’s now likely to change in the face of the “economic seismic shift” of slumping oil prices that may be a drag on the Canadian economy but a boon for Ontario exporters and manufacturers, says the economic forecast being released Thursday.

He anticipates that Toronto home prices, which averaged $573,183 in 2014 could soar to $670,000 by the end of 2017. Ontario house prices, which averaged $430,984 in 2014, could hit $496,000 during the same time.

Southwestern Ontario, and especially communities with a strong manufacturing base such as Windsor and Sarnia, are likely to see an uptick in jobs and economic growth which could play out in strong house sales and above-inflation price increases to the end of 2017, he adds.

Regional markets around the GTA — such as Kitchener-Waterloo, Barrie, Hamilton and the Niagara Peninsula — could also see a surge in sales partly as a result of Toronto’s tight market. That could translate into house price gains in the 16 per cent range over the next three years, says Pastrick.

The Canadian Real Estate Association recently predicted that low oil prices could result in a 1.1 per cent decline in national home sales through 2015, but a 2 per cent increase in average prices.

Read the full article: http://www.thestar.com/business/2015/03/25/torontos-record-house-prices-to-rise-further-by-2017.html By: Susan Pigg Business Reporter, Published on Wed Mar 25 2015

To learn more about local real estate market conditions in Whitby, Brooklin, Ajax, Pickering, Oshawa, Courtice and Bowmanville, please contact me.

Randy Miller
Broker of Record

Royal Heritage Realty Ltd.
Offices in Pickering and in Whitby

905-430-1800

 

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San Francisco’s housing market is strong for many of the same reasons as Toronto’s:

- Migration, which is adding 10,000 new residents each year
- Low levels of unemployment which support prices
- Surging stock markets that make people feel wealthier
- High rents which make ownership attractive
- Low interest rates

Source: Paragon Real Estate Group

If Toronto’s housing market comes under pressure, the experience of San Francisco may offer some clues about what might happen. How far might prices fall? How long would the pain last and what would a recovery look like?

Even though GTA house prices have been predicted to fall in each of the past 10 years, they keep hitting new highs. The average price of a home in the GTA rose 7.5 per cent in January, year over year, bringing the average to $552,575.

The housing stakes are particularly high in the GTA, says TD Bank deputy chief economist Derek Burleton. He says a healthy real estate market is critical to the region’s overall fortunes and since the GTA is Canada’s economic engine, the rise or fall of housing carries a national weight.

As an example of what can happen, Burleton says the oil price shock is paralyzing Calgary’s housing market. Average prices are down 10 per cent from their highs and more is likely in store. Listings are rising, but buyers are few and far between.

“They’re saying, ‘Why buy now when you can wait and it will be cheaper?’ ” he says.

Burleton says GTA house prices are 10 to 15 per cent higher than they should be relative to rents and income growth. But that doesn’t mean a crash is coming now, or later. That number is a calculation and not necessarily the way people behave.

“Prices may be higher than they should be, but that can be sustained for years,” he says.

Burleton says it would take a huge economic shock, “a global event” to cause the kind of drop seen in the U.S. post-2008, where prices fell by an average 35 per cent over three years. But even that number is misleading because the experience in overbuilt Sunbelt states like Arizona and Florida was far more painful than big urban centres with real economies.

There are things we can conclude from the way cities like San Francisco coped with the crash. Bay Area prices tumbled by an average 27 per cent between 2008 and 2011 as part of the subprime mortgage lending collapse. By the end of 2014, they were 15 per cent above the 2008 peak.

San Francisco is similar in many ways to the GTA. The Bay Area includes Oakland and San Jose, the home of Silicon Valley. It has a metro population of 7.7 million. It attracts creative talent and offers high paid jobs.

The GTA has a population of about six million. Toronto is the head office capital of Canada as well as a centre for banking, investing and finance. Like San Francisco, the GTA attracts migration from other parts of the country, as well as investment from abroad. Both cities are social and cultural centres.

“When people talk about the most desirable places in North America to live, Toronto and San Francisco are usually on the list,” says Patrick Carlisle, chief market analyst with the Paragon Real Estate Group, one of San Francisco’s largest realtors.

Carlisle says the causes of the U.S. housing crash were unique. Ultralow rates following Sept. 11 supercharged mortgage lending. When that was combined with “refinance insanity and degraded loan underwriting standards” you set the table for disaster. He says criminally lax lending rules meant unemployed people, with no sources of income, were being qualified for mortgages worth hundreds of thousands of dollars. Those loans became assets on the books of banks and other lenders. Once these “homeowners” started defaulting, things quickly fell apart.

Home Price Index San Francisco
(Source: Paragon Real Estate Group)


Carlisle has looked at 30 years of San Francisco housing data that includes three corrections. One in 1991 lasted three years and led to an average 11-per-cent drop in prices. A one-year sell off in 2001 caused by the dot-com bust and Sept. 11 also saw prices fall 11 per cent. The third, averaging 27 per cent over three years, was the latest.

He says the broad cycle is consistent: price retreats for two or three years, a bottoming out for a couple more and then a quick climb. The cycles can be short or long, but are tied to economic well-being. Once recovery starts, prices quickly accelerate “as if somebody turned on a switch.”

San Francisco Housing Market Cycles
(Source: Paragon Real Estate Group)

Lawrence Yun, chief economist with the National Association of Realtors, a Washington, D.C., lobby group, agrees with Carlisle.

“One difference between Canada and the U.S. is that the U.S. had lax underwriting standards. The Canadian market has been fuelled by low rates and good underwriting standards that keep payments at manageable levels.”

Yun believes our housing market will stay intact as long as the economy is creating jobs.

“San Francisco is strong because the job market is strong. If you can hang on to jobs in Toronto, then prices will hold up,” he says “But if the economy goes into a mild recession home prices will decline.”

Yun says housing is affected by local economic conditions which is why prices rose in Dallas-Fort Worth during the worst of the bust. The oil industry was booming. These days, prices are falling in Dallas, as they are in Calgary.

Meanwhile, Boston has joined San Francisco in surpassing its 2008 price peaks, while Chicago, another city often compared with Toronto, has not.

The bigger point is that whatever happens will not be world ending, but part of a cycle that has repeated itself many times since the Dutch Tulip mania of the 1600s.

“While future cycles will vary in their details, the causes, effects and trends are often quite similar,” Carlisle says, adding in a recent research note: “Up, Down, Flat, Up Down, Flat . . . Repeat.”

Source: by Adam Meyers, The Star http://www.thestar.com/business/personal_finance/2015/02/18/if-gta-housing-unravels-how-it-might-unfold-mayers.html

Durham’s housing market off to a great start with a promising forecast for 2015

Within Durham Region price growth is anticipated to continue into 2015 and with low borrowing rates, housing remains affordable. For more insight into Durham Region's housing market, contact me!  

Randy Miller
Broker of Record

Royal Heritage Realty Ltd.
Offices in Pickering and in Whitby

905-430-1800


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Enjoy good music with your Valentine!

 

Pink Floyd

 

Without question, Pink Floyd remains one of the most influential rock bands of all time. Their record-breaking status is legendary. Get ready for PFX-THE PINK FLOYD EXPERIENCE as they make their debut in Oshawa performing 4 SIDES OF FLOYD .  A fully packed show covering songs from four sides off of four different Floyd albums combined with a spectacular light show, full quadraphonic sound and six outstanding musicians bringing you the most authentic Floyd experience.  It’s “a must-see for any Pink Floyd enthusiast!” (C-News, Northampton, MA)

For more information and tickets for this Valentine's Day event, visit General Motors Centre!

Randy Miller
Broker of Record
Royal Heritage Realty Ltd.
Offices in Pickering and in Whitby

905-430-1800 

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