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Real eState
Real estate agent fined $1,000 and has licence suspended for one month – HalifaxToday.ca
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A Halifax-based real estate agent has had his licence suspended and is facing a fine for violating the Real Estate Trading Act and the province’s COVID-19 restrictions.
A decision posted to the Nova Scotia Real Estate Commission’s website on Monday morning says Adam Scott of HaliPad Real Estate Inc. is suspended through February 17th.
“The evidence supported Mr. Scott facilitated a viewing with a client knowing the client arrived from outside of Atlantic Canada the night before and had not completed the province’s COVID-19 pandemic mandatory 14-day self-isolation,” the commission said.
Scott’s biography no longer appears on HaliPad’s website.
In addition to his month-long suspension, Scott has been ordered to pay a $1,000 fine.
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New report from Sotheby’s International Realty Canada highlights that the city leads the nation for demand growth.
Published May 09, 2024 • Last updated 10 hours ago • 3 minute read
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Ultra-luxury homes in Calgary may not be selling like hotcakes, but homes priced $4 million or more are seeing higher demand than ever before, says a local realtor, specializing in the niche resale real estate segment.
“This spring, Calgary has seen multiple ultra luxury sales over the $4-million mark, compared with last spring,” says Corinne Poffenroth, senior vice-president of sales with Sotheby’s International Realty in Calgary.
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She points to one sale in late April in Upper Mount Royal for more than $5 million among a handful of ultra-luxury home transactions that are becoming more common, though still far from the norm in Calgary. The recently published Top-Tier Real Estate: Spring 2024 State of Luxury Report, by Sotheby’s International Realty Canada, reveals that Canada’s luxury market is recovering after the recent slump in activity in many major centres, resulting from higher borrowing costs.
It also highlights Calgary as a luxury market outlier with higher demand than other large cities, further adding the city should continue to lead Canada for percentage sales growth of high-priced homes.
“One big reason is Calgary is attracting a lot of new businesses right now,” says Don Kottick, president and chief executive officer of Sotheby’s International Realty Canada.
What’s more, Calgary is a value market for luxury, unlike Vancouver and Toronto where luxury starts at $4 million. In Calgary, by comparison, luxury starts at $1 million.
Yet luxury is a moving target in Calgary these days — upward in price, that is — given that the average price for a single-family detached home in the city exceeded $800,000 at the end of March, Calgary Real Estate Board statistics show.
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Still, buyers are arguable purchasing a luxury home in Calgary for about $1 million, with Kottick noting a comparable home in Vancouver costs $4 million — which is considered luxury there.
Most luxury demand in Calgary is for single-family homes “accounting for 83 per cent of sales for homes priced at $1 million-plus,” Poffenroth says.
Yet ultra-luxury — $4-million-plus — in Calgary, often a slow market, has picked up, as noted in Sotheby’s report.
It points to two luxury properties worth more than $4 million selling in the first three months of the year versus none in the same period in 2023.
The market for luxury homes under that price, however, was much more active. All told, 441 sales over $1 million occurred in the first quarter of this year, an increase of 63 per cent year over year, the report states.
The vast majority of sales are in the $1-million to $2-million range, accounting for 92 per cent of luxury activity in Calgary.
While many of these transactions involve single-family detached homes, other luxury housing types — townhomes and condominium apartments — are seeing stronger demand than seen in the previous 10 years, Poffenroth says, pointing to recent sales for $1.5 million and $3 million for apartment condominiums downtown.
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“We are seeing both downsizers wanting larger luxury condos and a lock-and-leave lifestyle to replace their large estates, combined with out-of-province buyers who see the investment value in Calgary luxury condos.”
CREB statistics from the first quarter of 2024 reveal 15 apartment sales of $1 million or more versus 10 in 2023, also a strong market historically. Row sales did fall from four to three sales year over year, ending March 31, but semi-detached transactions in that price range were up sharply from three last year to nine this year.
Kottick says the report forecasts improving demand for Canada’s luxury market, especially if interest rates fall, with Calgary expected to again be a luxury activity leader.
“The city is still booming economically, and that will certainly drive luxury sales.”
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It’s unclear how long this Toronto house has been abandoned.
The last time it sold was in 2009 for $1.8 million, and even then, it was being sold “as is.”
“The house had been vacant and derelict for years before I purchased it,” said current owner Marina Stefanovic.
“And at the time the sellers, the estate of the couple that passed away, was not allowing showings inside the house for safety reasons. The children of prior owners had chainsawed the house throughout (floors, fireplaces, walls, etc.) looking for a valuable coin collection that the parents had.”
For the record, the kids never found the coin collection.
When Stefanovic bought it she had grand plans but she told blogTO that it took a long time to get through the Committee of Adjustments for approvals of new plans.
By the time plans were approved Stefanovic, her family had moved out of the area and things stalled.
In 2017, 132 Blythwood Rd. went on and off the market for the entire year. It started at $6,188,000 and dropped to $5,295,000 by December, but never sold as a deal fell through.
The front of the house.
In the intervening seven years, the house has remained abandoned and has only become more derelict.
And yet, despite the abysmal state of this house, the home has just been re-listed for $6,385,000.
Why? You might ask. Because land. It’s always land.
An aerial shot of the neighbourhood and property.
132 Blythwood Rd. is sitting on a massive 77 by 403-foot ravine estate lot with a substantial amount of table land (aka flat ground).
With over 30,000 square feet of land, the possibilities of building a dream home are pretty much endless, if you have the cash.
You could have a sprawling estate with a pool, detached four-car garage, and enough room for the greenhouse of all greenhouses.
In fact, according to the listing, plans for a dream home are already in the works.
There’s a survey, previously approved renovation/extension plans by Richard Wangle, and draft plans for a 13,000-square-foot new build.
Or, if you’re more entrepreneurial, you could divide the property in two and build a whole townhouse development, a condo, or whatever you want.
The backyard and detached garage.
This property has the space and potential to pretty much do anything you can get a building permit for.
Location wise, it is in the prestigious Lawrence Park neighbourhood where homes, on average, go for over $4 million.
So that obviously plays a part in the listing price, but even considering all that $6 million is likely high.
When we ran the address through HouseSigma and looked at the comparables, the value of the 132 Blythwood Rd. was in the $4 million range.
Looks like there once was a pool.
Then again, Stefanovic shared that in the years she’s owned the property she’s received a number of unsolicited offers – the highest offer being $6 million plus commission.
So who knows, maybe it will sell for close to the asking price.
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New report from Sotheby’s International Realty Canada highlights that the city leads the nation for demand growth.
Published May 09, 2024 • Last updated 10 hours ago • 3 minute read
Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page.
Article content
Ultra-luxury homes in Calgary may not be selling like hotcakes, but homes priced $4 million or more are seeing higher demand than ever before, says a local realtor, specializing in the niche resale real estate segment.
“This spring, Calgary has seen multiple ultra luxury sales over the $4-million mark, compared with last spring,” says Corinne Poffenroth, senior vice-president of sales with Sotheby’s International Realty in Calgary.
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She points to one sale in late April in Upper Mount Royal for more than $5 million among a handful of ultra-luxury home transactions that are becoming more common, though still far from the norm in Calgary. The recently published Top-Tier Real Estate: Spring 2024 State of Luxury Report, by Sotheby’s International Realty Canada, reveals that Canada’s luxury market is recovering after the recent slump in activity in many major centres, resulting from higher borrowing costs.
It also highlights Calgary as a luxury market outlier with higher demand than other large cities, further adding the city should continue to lead Canada for percentage sales growth of high-priced homes.
“One big reason is Calgary is attracting a lot of new businesses right now,” says Don Kottick, president and chief executive officer of Sotheby’s International Realty Canada.
What’s more, Calgary is a value market for luxury, unlike Vancouver and Toronto where luxury starts at $4 million. In Calgary, by comparison, luxury starts at $1 million.
Yet luxury is a moving target in Calgary these days — upward in price, that is — given that the average price for a single-family detached home in the city exceeded $800,000 at the end of March, Calgary Real Estate Board statistics show.
Noon News Roundup
Article content
Advertisement 3
Article content
Still, buyers are arguable purchasing a luxury home in Calgary for about $1 million, with Kottick noting a comparable home in Vancouver costs $4 million — which is considered luxury there.
Most luxury demand in Calgary is for single-family homes “accounting for 83 per cent of sales for homes priced at $1 million-plus,” Poffenroth says.
Yet ultra-luxury — $4-million-plus — in Calgary, often a slow market, has picked up, as noted in Sotheby’s report.
It points to two luxury properties worth more than $4 million selling in the first three months of the year versus none in the same period in 2023.
The market for luxury homes under that price, however, was much more active. All told, 441 sales over $1 million occurred in the first quarter of this year, an increase of 63 per cent year over year, the report states.
The vast majority of sales are in the $1-million to $2-million range, accounting for 92 per cent of luxury activity in Calgary.
While many of these transactions involve single-family detached homes, other luxury housing types — townhomes and condominium apartments — are seeing stronger demand than seen in the previous 10 years, Poffenroth says, pointing to recent sales for $1.5 million and $3 million for apartment condominiums downtown.
Advertisement 4
Article content
“We are seeing both downsizers wanting larger luxury condos and a lock-and-leave lifestyle to replace their large estates, combined with out-of-province buyers who see the investment value in Calgary luxury condos.”
CREB statistics from the first quarter of 2024 reveal 15 apartment sales of $1 million or more versus 10 in 2023, also a strong market historically. Row sales did fall from four to three sales year over year, ending March 31, but semi-detached transactions in that price range were up sharply from three last year to nine this year.
Kottick says the report forecasts improving demand for Canada’s luxury market, especially if interest rates fall, with Calgary expected to again be a luxury activity leader.
“The city is still booming economically, and that will certainly drive luxury sales.”
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