adplus-dvertising
Connect with us

News

Can you afford a vacation home? Here’s what it takes across Canada – Global News

Published

 on


One of the wildest real estate bidding wars Markham, Ont.-based real estate agent Dayle Carmody has seen recently involved a home listed at $499,000 that sold for $300,000 over asking after just a couple of days and some 25 offers later.

The home wasn’t in one of the Greater Toronto Area (GTA) suburbs that have attracted scores of urban buyers looking for more space and greenery amid the pandemic. It was in Hunstville, Ont. in the coveted Muskoka region, one of the province’s most popular vacation destinations.

READ MORE: What you can buy in housing markets across Canada for $500K, $1M and $1.5M

“Anything at that entry-level price point is getting multiple offers within a day,” says Carmody, who is a sales representative at Ferrow Real Estate.

But bidding wars are hardly unique to Ontario’s cottage country amid Canada’s pandemic-fuelled real estate boom. Whether you call it cottage, cabin, chalet or camp, if you’re hoping to snap up a vacation home this year, get ready for bare-knuckle competition.

Story continues below advertisement

“From coast to coast, the line between primary residence and recreational property is blurring,” Phil Soper, president and CEO of Royal LePage said in a statement.


Click to play video: 'Money123: Owning a vacation home without breaking the bank'



2:04
Money123: Owning a vacation home without breaking the bank


Money123: Owning a vacation home without breaking the bank – Aug 3, 2019

The result is a country-wide buying frenzy made worse by supply shortages that are often even more severe for recreational properties than they are in the overall real estate market, according to real estate agents. The trend began last summer and has continued to gain momentum, Soper said.

READ MORE: A better kind of timeshare? Why millennials are choosing co-ownership for vacation homes

Overall, Royal LePage expects the aggregate price of a home in Canada’s recreational markets to soar 15 per cent in 2021, to just over $500,000, the real estate company said in a forecast released Tuesday. That appreciation would come on top of an average price increase of 16 per cent in 2020, according to the report.

Story continues below advertisement

Here’s what to expect across Canada in 2021:

Atlantic Canada


GettyImages.

Average price increase in 2021: 17 per cent.

Average price expected at the end of 2021: just under $227,000.

Along with Ontario, Atlantic Canada’s recreational market is poised to see the sharpest appreciation this year, with plenty of demand from out-of-province buyers from Ontario, Quebec and B.C., according to the report.

In Shediac, N.B., which claims to be the “lobster capital of the world,” sight-unseen home purchases are becoming “more prevalent,” says Heather FitzGerald at Royal LePage Atlantic in Moncton. Some of the out-of-town buyers are retirees returning home or “fulfilling the dream of a vacation home in the Maritimes,” while others are young professionals who can work remotely and have chosen to relocate to a waterfront cottage, he says.

Story continues below advertisement

Forty per cent of surveyed real estate professionals representing buyers in the region said their clients are making four to seven offers on average before closing a sale, according to the report.

Quebec


GettyImages.


GettyImages

Average price increase: 15 per cent.

Average price expected at the end of 2021: just over $290,000.

In Quebec, Éric Léger,  a real estate broker at Royal LePage Humania sees a demographic clash between young buyers craving more space both indoors and outdoors, and older owners who are reluctant to sell because of concerns related to COVID-19, and a record housing supply crunch that makes it difficult for potential sellers to buy elsewhere.

“Eventually, the progress in the vaccination rollout should lead to increased [housing] inventory,” he says.

Story continues below advertisement

Ontario


GettyImages.


GettyImages

Average price increase: 17 per cent.

Average price expected at the end of 2021: around $547,000.

In Ontario, Royal LePage sees average home prices in the recreational market climbing 17 per cent on top of a nearly 20 per cent increase in 2020.

At Ferrow Real Estate, Carmody says that while she is starting to detect bidding-war fatigue among some Ontario buyers looking to purchase at the edges of the GTA, in cottage country she expects multiple offers to continue to be the norm through the summer.

“There’s just so much demand,” she says. “Everybody’s trying to scoop up a cottage or recreational property.”

Prairies


GettyImages.


GettyImages

Average price increase: 9 per cent.

Average price expected at the end of 2021: just under $261,000.

While average home-price growth is expected to come in just shy of double-digit territory this year, the forecast increase comes after recreational property values soared by nearly 22 per cent in 2020, according to Royal LePage.

Story continues below advertisement

While the region isn’t seeing an onslaught of buyers from out of province, local snowbirds are helping to drive up demand.

“I’ve had many clients trade their U.S. properties for waterfront cottages closer to home,” Rolf Hitzer of Royal LePage Top Producers Real Estate, says of properties in properties in Lac du Bonnet, near Winnipeg.

Alberta


GettyImages.


GettyImages

Average price increase: 6 per cent.

Average price expected at the end of 2021: just under $943,000.

Alberta is expected to see a — relatively speaking — tame average price increase of six per cent this year, according to the report. But the province already has Canada’s priciest recreational market with the aggregate price of a vacation home expected to come in just shy of $1 million by the end of 2021. The average is skewed by Canmore, a sought-after destination for its proximity to Banff National Park and luxury mountain properties.

Story continues below advertisement

A growing segment of buyers comes from young and middle-aged Albertans wanting to relocate to the areas, says Brad Hawker of Royal LePage Rocky Mountain Realty.

British Columbia


GettyImages.


GettyImages

Average price increase in 2021: 13 per cent.

Average price expected at the end of 2021: just under $782,000.

Real estate agents in the province are expecting another torrid spring real estate markets ahead of another summer without the possibility of travel.

“Our biggest challenge right now is extremely low inventory and increased buyer demand,” says Francis Braam of Royal LePage Kelowna. “I expect we’ll see double-digit price gains in Central Okanagan this spring.”

Advertisement

© 2021 Global News, a division of Corus Entertainment Inc.

Let’s block ads! (Why?)

728x90x4

Source link

Continue Reading

News

NASA astronauts won’t say which one of them got sick after almost eight months in space

Published

 on

CAPE CANAVERAL, Fla. (AP) — Three NASA astronauts whose prolonged space station mission ended with a trip to the hospital last month declined to say Friday which one of them was sick.

Astronauts Matthew Dominick, Michael Barratt and Jeanette Epps publicly discussed their spaceflight for the first time since returning from the International Space Station on Oct. 25. They spent nearly eight months in orbit, longer than expected because of all the trouble with Boeing’s Starliner crew capsule and rough weather, including Hurricane Milton.

Soon after their SpaceX capsule splashed down in the Gulf of Mexico off the Florida coast, the three were taken to a hospital in nearby Pensacola along with Russian cosmonaut Alexander Grebenkin, who launched with them back in March.

One of the Americans ended up spending the night there for an undisclosed “medical issue.” NASA declined to say who was hospitalized or why, citing medical privacy.

When asked at Friday’s news conference which one had been sick, the astronauts refused to comment. Barratt, a doctor who specializes in space medicine, declined to even describe the symptoms that the unidentified astronaut had.

“Spaceflight is still something we don’t fully understand. We’re finding things that we don’t expect sometimes. This was one of those times and we’re still piecing things together on this,” said Barratt, the only member of the crew who had flown in space before.

Epps said everyone is different in how they respond to space — and gravity.

“That’s the part that you can’t predict,” she said, adding, “Every day is better than the day before.”

Dominick said little things like sitting comfortably in a hard chair took several days to get used to once he returned. He said he didn’t use the treadmill at all during his time in space, as part of an experiment to see what equipment might be pared on a long trip to Mars. The first time he walked was when he got out of the capsule.

The two astronauts who served as test pilots for Boeing’s Starliner — Butch Wilmore and Suni Williams — will remain at the space station until February, flying back with SpaceX. Starliner returned empty in September.

___

The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.

The Canadian Press. All rights reserved.



Source link

Continue Reading

News

43 monkeys remain on the run from South Carolina lab. CEO thinks they’re having an adventure

Published

 on

COLUMBIA, S.C. (AP) — Forty-three monkeys bred for medical research that escaped a compound in South Carolina have been spotted in the woods near the site and workers are using food to try to recapture them, authorities said Friday.

The Rhesus macaques made a break for it Wednesday after an employee at the Alpha Genesis facility in Yemassee didn’t fully lock a door as she fed and checked on them, officials said.

“They are very social monkeys and they travel in groups, so when the first couple go out the door the others tend to just follow right along,” Alpha Genesis CEO Greg Westergaard told CBS News.

Westergaard said his main goal is to have the monkeys returned safely with no other problems. “I think they are having an adventure,” he said.

The monkeys on Friday were exploring the outer fence of the Alpha Genesis compound and are cooing at the monkeys inside, police said in a statement.

“The primates are exhibiting calm and playful behavior, which is a positive indication,” the police statement said, adding company workers are closely watching the monkeys while keeping their distance as they work to safely recapture them.

The monkeys are about the size of a cat. They are all females weighing about 7 pounds (3 kilograms).

Alpha Genesis, federal health officials and police all said the monkeys pose no risk to public health. The facility breeds the monkeys to sell to medical and other researchers.

“They are not infected with any disease whatsoever. They are harmless and a little skittish,” Yemassee Police Chief Gregory Alexander said Thursday.

Authorities still recommend that people who live near the compound about 1 mile (1.6 kilometers) from downtown Yemassee shut their windows and doors and call 911 if they see the monkeys. Approaching them could make them more skittish and harder to capture, officials said.

Eve Cooper, a biology professor at the University of Colorado Boulder who has studied rhesus macaques, said the animals have the potential to be dangerous and urged people to keep their distance.

Rhesus macaques monkeys can be aggressive. And some carry the herpes B virus, which can be fatal to humans, Cooper said.

However, Alpha Genesis states on its website that it specializes in pathogen-free primates. Cooper noted that there are pathogen-free populations of rhesus macaques that have been quarantined and tested.

“I would give them a wide berth,” Cooper said. “They’re unpredictable animals. And they can behave quite aggressively when they’re afraid.”

Alpha Genesis provides primates for research worldwide at its compound about 50 miles (80 kilometers) northeast of Savannah, Georgia, according to its website.

Locally, it is known as “the monkey farm.” And there is more amusement than panic around Yemassee and its population of about 1,100 just off Interstate 95 about 2 miles from Auldbrass Plantation, a Frank Lloyd Wright house designed in the 1930s.

There have been escapes before, but the monkeys haven’t caused problems, said William McCoy, who owns Lowcountry Horology, a clock and watch repair shop.

“They normally come home because that’s where the food is,” he said.

McCoy has lived in Yemassee for about two years and while he plans to stay away from the monkeys, he has his own light-hearted plan to get them back.

“I’m stocking up bananas, maybe they’ll show up,” McCoy said.

The Alpha Genesis compound is regularly inspected by federal officials.

In 2018, the U.S. Department of Agriculture fined Alpha Genesis $12,600 in part after officials said 26 primates escaped from the Yemassee facility in 2014 and an additional 19 got out in 2016.

The company’s fine was also issued because of individual monkey escapes as well as the killing of one monkey by others when it was placed in the wrong social group, according to a report from the USDA.

The group Stop Animal Exploitation Now sent a letter Thursday to the USDA asking the agency to immediately send an inspector to the Alpha Genesis facility, conduct a thorough investigation and treat them as a repeated violator. The group was involved in the 2018 fine against the company.

“The clear carelessness which allowed these 40 monkeys to escape endangered not only the safety of the animals, but also put the residents of South Carolina at risk,” wrote Michael Budkie, executive director of the group.

The USDA, which has inspected the compound 10 times since 2020, didn’t immediately respond to the letter.

The facility’s most recent federal inspection in May showed there were about 6,700 primates on site and no issues.

In a 2022 review, federal veterinarians reported two animals died when their fingers were trapped in structures and they were exposed to harsh weather. They also found cages weren’t adequately secure. Inspectors said criminal charges, civil penalties or other sanctions could follow if the problems weren’t fixed.

Since then, Alpha Genesis has undergone six inspections with minor problems reported only once.

In January 2023, the USDA said temperatures were out of the 45 to 85 degree Fahrenheit (7.2 to 29.5 degree Celsius) required range at some of the compound’s monkey cages. The inspection found moldy food in one bin, sharp edges on a gate that could cut an animal and sludge, food waste, used medical supplies, mechanical equipment, and general construction debris on the grounds.

Supporters of medical research involving nonhuman primates said they are critical to lifesaving medical advances like creating vaccines against COVID-19 because of their similarities to people. Keeping a domestic supply of the animals is critical to prevent shortages for U.S. researchers.

Humans have been using the rhesus macaque for scientific research since the late 1800s. Scientists believe that rhesus macaques and humans split from a common ancestor about 25 million years ago and share about 93% of the same DNA.

These monkeys have been launched into space on V2 rockets, used for AIDS research, had their genome mapped and made stars of their own reality television show. They were in such high demand in the early 2000s that a shortage led to scientists paying up to $10,000 per animal.

Outside of rats and mice, rhesus macaques are one of the most studied animals on the planet, said Dario Maestripieri, a behavioral scientist at the University of Chicago who wrote the 2007 book “Macachiavellian Intelligence: How Rhesus Macaques and Humans Have Conquered the World.”

The animals are very family oriented, siding with relatives when fights break out. And they’re adept at building political alliances in the face of threats from other monkeys. But they can be painful to watch. Monkeys with lower status in the hierarchy live in a constant state of fear and intimidation, Maestripieri said.

“In some ways, they kind of represent some of the worst aspects of human nature,” Maestripieri said.

___

Lovan reported from Louisville, Kentucky, and Finley reported from Norfolk, Virginia.



Source link

Continue Reading

News

Freeland says she’s ready to deal with Trump |

Published

 on

Finance Minister Chrystia Freeland speaks with reporters after chairing a special cabinet committee working on Canada’s plan to deal with the incoming Donald Trump administration. Freeland says she’s stood up for Canadian interests in the past and is ready to go another round. (Nov. 8, 2024)



Source link

Continue Reading

Trending