A Fort McMurray real estate agent is encouraging people shop local by creating a video series called 30 businesses in 30 days.
This month, Melanie Galea started posting videos showcasing small businesses in Fort McMurray. From pet stores, to coffee roasters and spas, Galea has been trying to remind locals about what businesses they could be shopping from.
“It just seemed like it was needed more than ever,” said Galea.
“These business owners are ready for Christmas.”
She said there are concerns that businesses are going to be shut down and several businesses have already closed during the pandemic and flood.
“People are staying home, they’re maybe not spending quite as much money. Some businesses are doing well, but I’ve seen businesses shut down because of what’s happening right now.”
Galea did a similar promotion in 2015, making videos to showcase 30 businesses. Thirteen of those stores have since closed.
Galea put a call out for businesses to contact her about making a video, and she was even surprised to find out about companies she had never heard of before.
“It’s great to see there are new businesses,” said Galea.
“The reaction has been fantastic.”
Galea said her videos have even inspired former McMurrayites. She said a former Fort McMurray resident, now living in Edmonton, reached out to Galea to ask about buying gift cards from Fort McMurray shops.
The entire series took about 100 hours to create. She charged $50 per business to do the video, but it’s costing her more than $250 per episode.
“This is my give to the community,” said Galea. She started filming the series in the beginning of October.
Carley Johnson, owner of Firebag Coffee Company, started selling coffee and coffee accessories in February. She roasts coffee at her home in Fort McMurray and sells it online and at local markets.
Since her video went live, she’s had people reach out to her saying they didn’t know her business existed and says her sales have increased.
The company does free delivery in town, and she says they do about 25-30 orders a day.
“Since the video’s run I’ve probably had at least 5 to 10 new people contact me every day.”
“It’s wonderful,” said Johnson.
Michael Langille’s video hasn’t gone public yet — it’s slated for Dec. 9. He’s the owner of The Little Pet Company, which is in the midst of expanding.
“Some people think that we’re still shut down since the flood,” said Langille. “It’s about broadcasting that we’re here.”
He said many people thought the flood destroyed the shop, which it didn’t.
The store was “busier than ever” for the first few months of the pandemic, but recently noticed a “sgnificant change” in the number of customers coming in.
Langille said he doubled his store’s inventory with the expansion, but “we’re not seeing double the sales by any means.”
“We might’ve seen a ten per cent increase, which is not what you want to see when you’re expanding your business.”
He’s hoping the video gets people coming into the store, and spending their dollars in town, rather than online.
Canadian Real Estate Agent Rankings: RE/MAX Captures 33 of Top 100 – RE/MAX News
In a recent ranking of Canadian real estate agents by Rate-My-Agent.com Inc, 33 RE/MAX agents were named in the Top 100 list for 2020, claiming the most of any other brokerage. The review site compiled its list of top-rated Canadian real estate agents based on ratings and reviews received during 2020.
Congratulations to the RE/MAX agents from coast to coast made the list!
#4 – Jennifer Queen – RE/MAX Professionals (Winnipeg, MB)
#6 – Jamie Swaile – RE/MAX Performance Realty (Winnipeg, MB)
#8 – Ben Sweet & Meredith Miller – RE/MAX iRealty Innovations (Calgary, AB)
#11 – Patrick Fields – RE/MAX Select (Edmonton, AB)
#14 – Erin Hayes – RE/MAX Edge Realty Inc. (Burlington, ON)
#15 – Amber Van Den Broek – RE/MAX Executives Realty (Winnipeg, MB)
#17 – Evelyn Lacerda – RE/MAX Realty Specialists Inc. (Mississauga, ON)
#19 – Andy Kloppenborg – RE/MAX Performance Realty (Winnipeg, MB)
#20 – Seth Allred – RE/MAX House of Real Estate (Calgary, AB)
#21 – Anurag Sharma – RE/MAX Twin City Sharma Realty (Kitchener, ON)
#23 – Mira Marion – RE/MAX Performance Realty (Winnipeg, MB)
#26 – Marcel Gladu – RE/MAX Crown Realty (1989) Inc. (Sudbury, ON)
#32 – Meagan McKillop – RE/MAX Professionals (Winnipeg, MB)
#35 – Shawn Hinchey – RE/MAX Jazz Inc. (Oshawa, ON)
#36 – Marc Parenteau – RE/MAX Affiliates Realty LTD. (Ottawa, ON)
#37 – Pierre & Cynthia Charron – RE/MAX Professionals Saint John INC. (Saint John, NB)
#40 – Rie Takahashi Zhou – RE/MAX Real Estate (Kamloops, BC)
#42 – Mary Ann Schiralli – RE/MAX Aboutowne Realty Corp. (Oakville, ON)
#43 – Laura Schewchenko – RE/MAX Real Estate (Central) (Calgary, AB)
#45 – Michael Pavone – RE/MAX Elite (North) (Edmonton, AB)
#49 – Lorin McLachlan – RE/MAX Executives Realty (Winnipeg, MB)
#54 – Brent Miller – RE/MAX Real Estate (Kamloops, BC)
#62 – Marcus Power – RE/MAX Professionals Saint John INC. (Saint John, NB)
#63 – Colton Davidson – RE/MAX Real Estate Centre INC. (Kitchener, ON)
#65 – Bill Papaioannou – RE/MAX Escarpment Realty INC. (Hamilton, ON)
#69 – Scott Glover – RE/MAX Treeland Realty (Langley, BC)
#73 – Reisha Dass – RE/MAX Real Estate Centre INC. (Burlington, ON)
#77 – Connor Honey – RE/MAX Excellence (Edmonton, AB)
#81 – Ed Dale Jr. – RE/MAX Professionals (Winnipeg, MB)
#90 – Darren Yee – RE/MAX iRealty Innovations (Calgary, AB)
#91 – Larry Paletta – RE/MAX Escarpment Realty INC. (Stoney Creek, ON)
#98 – Carol Cohen – RE/MAX Elk Valley Realty (Fernie, BC)
Benefits of Working With a Professional Real Estate Agent:
Selling your home can be an emotional experience. In fact, RE/MAX research reveals that a real estate transaction is one of life’s top stressors, second only to divorce (ouch!). Under some circumstances, sellers may wish to handle the sale of their home on their own. As a consumer, you have the option to handle the transaction on your own, or work with a Realtor. While an FSBO may have some pros, it also has its cons. Click here to check out eight very valid reasons to have a real estate agent on speed dial.
Canadian Real Estate is Competitive. How do you Choose the Right Agent?
According to research by the National Association of Realtors, there are huge benefits to working with a real estate agent, including higher sale prices. However, every homebuyer and seller would be wise to do some “home work” to find a real estate agent who knows his or her market and who has a proven track record. Treat your vetting process like you would a job interview: ask lots of questions, and don’t settle until you’re satisfied with the answers. Click here for seven starter questions that should be on your list.
Canada’s Real Estate Market Is The Fastest Growing In The G7, And The Most Inflated – Better Dwelling
Canadian real estate prices aren’t just fast growing by local standards. They’re growing fast by any standard. US Federal Reserve data shows real home prices advanced in most of the G7 in Q3 2020. Canada topped the list of advanced countries for annual price gains. This isn’t a new trend though. Canadian real estate prices have become such a focus of speculation, they’ve grown almost 3x faster than the second fastest growing G7 country.
Canadian Prices Are The Fastest Growing In The G7
Canadian real estate prices are still growing at a breakneck speed. Real prices increased 2.93% in Q3 2020, bringing them 8.27% higher than the same quarter a year before. The annual growth is now the biggest of the G7 countries. Since the beginning of the Great Recession, Canadian real estate prices have outperformed every G7 market… by a wide margin.
G7 Real Estate Prices Change
The inflation adjusted change in G7 real estate prices in Q3 2020, compared to a year before. Source: US Federal Reserve, Better Dwelling.
Canadian Prices Grew 45% Faster Than Germany, The Second Best Performing Country
Germany’s real estate prices are the best performing in the past quarter, and just behind Canada annually. Germany’s real home prices increased 3.09% in Q3 2020, bringing real prices 6.99% higher than a year before. Despite being the second best performing country in the group, prices are only 38.5% higher than they were in 2005. That means Canadian prices grew 45.2% faster over that period – leading to a massive gap.
G7 Real Estate Price Index
An inflation adjusted index of G7 real estate prices. Source: US Federal Reserve, Better Dwelling.
Japanese Real Estate Is The Only Market To Fall
Japan, the negative rate marvel most countries are using as a successful model, is the only country that’s negative. Real home prices in the country were down a fairly flat 0.01% in Q3, bringing prices 1.15% lower than a year before. Real home prices in the country are 11.4% lower than they were in 2005, meaning home prices failed to even keep inline with inflation.
Italy Was The Only Other Market To Have A Slow Q3
Italy made the biggest quarterly drop in the most recent numbers, but still managed to squeeze out a gain. Real prices fell 2.14% in Q3 2020, bringing them 2.17% higher than last year. Since 2005, real home prices are up 30.1% – which is huge, it just doesn’t seem big against Canada’s movement.
Cheap money is a global trend, inflating almost every real estate market. Canada’s economy is unusually dependent on real estate though. The country’s residential investment is nearly double that of the US currently. It’s also almost 50% higher than the US was during their housing bubble. Somehow, the country’s central bank thinks growing at 25x the rate of US real estate is normal.
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Barrie is the New Investment Hotspot in Ontario Real Estate – RE/MAX News
For years, the Ontario real estate market had been dominated by a few key regions: Toronto, Ottawa and Hamilton. The rest of the province has generally garnered less attention compared to these booming housing markets. Yet, the coronavirus public health crisis changed everything, and now it is the suburbs and rural communities that are experiencing exponential growth and attracting people from these major urban centres.
Barrie has turned into one of the most sought-after real estate markets in the province, appealing to families who want to plant new roots, and real estate investors who want to profit on the investment buzz emanating from Central Ontario. Many industry observers had foreshadowed for years that Barrie was going to experience skyrocketing activity. Still, it was not until the COVID-19 pandemic and a change in real estate consumer behaviours that led to the city’s incredible success this year.
What was once a buyer’s market has quickly transitioned into a seller’s market, thanks to “strong growth” in sales activity and home valuations. But what does the latest data show? The growing real estate market in Barrie is not slowing down.
Barrie is the New Investment Hotspot in Ontario Real Estate
According to the Barrie & District Association of REALTORS® Inc. (BDAR), residential retail sales advanced 51.5 per cent in December from the same time a year ago, totalling 344 units in just one month. On an annual basis, home sales totalled 5,718 units in 2020, rising 23.6 per cent year-over-year.
According to BDAR, composite benchmark price rose 23.3 per cent to $613,200 in December 2020 compared to December 2019. All types of properties witnessed incredible growth at an annualized rate:
- Single-family: $644,000 | +24 per cent
- Townhouse: $440,600 | +28.8 per cent
- Apartments: $372,800 | +11.3 per cent
Overall, the average price of homes that exchanged hands in December soared 34.7 per cent year-over-year, to $744,835.
And these figures are anticipated to grow due to a lack of new supply coming to market, says Robin Jones, President of the Barrie & District Association of REALTORS®.
“Even with the recent influx of new listings overall inventories continue dropping to new record lows. With demand far outpacing supply we’re likely to continue seeing double-digit price growth through early 2021.”
Indeed, BDAR figures show that there were only 276 new residential listings in December 2020, which is up 39.4 per cent from the same time a year ago. Meanwhile, active residential listings plummeted 65.6 per cent from December 2019 to December 2020. Moreover, months of inventory fell to 0.6 at the end of December, down from 2.8 months at the same time last year. This is an important metric because it shows the number of months it would take to sell today’s stocks at the current rate of activity.
Real Estate Investors or Family Homebuyers?
The question that is now being entertained in the broader housing industry is whether Barrie is attracting real estate investors or family homebuyers.
While Barrie has become one of the go-to places for households looking to exit the big cities for quieter lifestyles in rural communities, Barrie also has various factors working in its favour to suggest this could be an investor’s dream. Here are some of the factors currently at play in the Barrie real estate market:
- Rental rates have been climbing due to a shortage of rental units. The city has attempted to rectify the situation by allowing homes to be converted into duplexes, raising the possibility of greater income generated from one house.
- Are bidding wars prevalent throughout Barrie? It is inevitable due to a short inventory list, and this is bullish for investors because it results in fast turnover.
- The Bank of Canada (BoC) has made borrowing cheaper and investing more rewarding. At the onset of the coronavirus pandemic, the central bank slashed interest rates. The result has been more borrowing and a transition away from safe-haven assets, such as guaranteed-investment certificates (GICs) and bonds. With rates expected to remain low (at least for now), it can be more affordable to borrow from mortgage lenders, giving you greater options in the housing market.
A Look at Barrie’s Real Estate Market in 2021
Can Barrie maintain this momentum heading into 2021? According to RE/MAX’s Housing Market Outlook (2021) report, Barrie real estate is expected to jump four per cent to an average price of $569,525 across all property types. Tightening housing inventories and strengthening demand are the city’s two primary factors driving its real estate boom in 2020, 2021 – and beyond.
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