Real eState
Residential property sales remain strong in BDAR's latest real estate numbers – BradfordToday
NEWS RELEASE
BARRIE AND DISTRICT ASSOCIATION OF REALTORS
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The November 2021 sales information is in, and residential property sales recorded through the Matrix System for the Barrie and District Association of Realtors (BDAR) region showed strong year-over-year increases in the average price of units sold. This was driven by both the units sold within the City of Barrie and the areas outside of it. However, the number of transactions has decreased from the same time last year.
Month-over-month (November 2021 vs. October 2021)
Residential homes
The Housing Price Index (HPI) showed a 2.9 per cent month-over-month increase of from October 2021.
Simcoe County
617 residential units were sold in Simcoe County last month — a 12.1 per cent decrease from October 2021. During the same time a year ago (October 2020 to November 2020), there was an 26.8 per cent decrease in the number of units sold.
The average price of residential units sold last month was $845,644 — a 1.5 per cent increase from October 2021. This growth was greater than the Month-over-month change in average price a year ago (+0.1 per cent).
City of Barrie
197 units were sold last month within the City of Barrie, which was 10.5 per cent less than the number of units sold the month prior. A year ago, the number of units sold between November and October decreased 24.5 per cent.
The average price of units sold within Barrie during November 2021 was $836,147. This was 8.6 per cent more than the average price during October 2021. In comparison, the average price of units sold between November 2020 and October 2020 increased 0.2 per cent.
City of Barrie – Apartments and condos
25 apartment and condo units were sold in Barrie last month — 26.5 per cent less than the number of units sold in October 2021. The average price of apartment and condo units sold in the City of Barrie last month was $559,692 — 10.3 per cent more than the average price in October 2021.
Simcoe County excluding Barrie
In Simcoe County excluding Barrie last month, 420 units were sold. This was 12.9 per cent less than the number of units sold during October 2021. At the same time a year ago, there was an 27.9 per cent decrease in the number of units sold outside of Barrie.
The average price of units sold in the areas outside of Barrie last month was $850,099. This was 1.5 per cent less than the month prior. Between November 2020 and October 2020, the average price of units sold outside of Barrie increased 0.2 per cent.
Innisfil
41 residential units were sold in Innisfil last month — a 29.3 per cent decrease from October 2021. During the same period a year ago (October 2020 to November 2020), there was a 30.8 per cent decrease in the number of units sold. The average price of residential units sold in Innisfil last month was approximately $989,879 — a 11.0 per cent increase from October 2021. In comparison, there was a 0.5 per cent decrease in average price from from October to November in 2020.
Orillia
47 residential units were sold in Orillia last month — a 19.0 per cent decrease from October 2021. During the same period a year ago (October 2020 to November 2020), there was an 32.5 per cent decrease in the number of units sold. The average price of residential units sold in Orillia last month was approximately $691,428 — a 4.7 per cent increase from October 2021. The average price a year ago increased 6.9 per cent from October to November.
Essa
In Essa last month, 31 residential units were sold. This was 16.2 per cent less than the month prior. During the same period a year ago, there was no change in the number of units sold. The average price of residential units sold in Essa last month was $879,230 — a 9.7 per cent decrease from October 2021. This time last year, the average price increased 8.0 per cent from October 2020 to November 2020.
Year-to-date (YTD) (November 2021 YTD vs November 2020 YTD)
All residential homes
Simcoe County
9,358 residential units were sold in Simcoe County during November 2021 Year-To-Date (YTD) (January 1st, 2021 – Nov. 30, 2021). This was 8.0 per cent more than what was sold during the same timeframe last year (Jan. 1, 2020 to Nov. 30, 2020). The average price of residential units sold during November 2021 YTD was $787,980. This was 32.7 per cent greater than the average price during the same timeframe last year.
City of Barrie
3,103 units were sold in the City of Barrie during November 2021 YTD. This was a 10.7 per cent growth from the same timeframe last year. This growth was greater than the growth in total Simcoe County (+8.0 per cent).
The average price of units sold within the City of Barrie during November 2021 YTD was $741,002. This was 31.6 per cent more than the same timeframe last year. This growth was less than what was seen in the total Simcoe region (+32.7 per cent). During November 2021 YTD, Barrie accounted for 33.2 per cent of residential properties sold. This was 0.8 share points more than the same timeframe during 2020.
City of Barrie – Apartments and condos
435 apartment and condo units were sold in Barrie during November 2021 YTD — 12.4 per cent more than the number of units sold in November 2020 YTD. The average price of apartment and condo units in the City of Barrie this year so far was $496,080. This was 21.8 per cent more than the average price during the same timeframe last year.
Simcoe County excluding Barrie
6,255 residential units were sold in the areas outside of Barrie during November 2021 YTD. This was 6.7 per cent more than the number of units sold during November 2020 YTD. This growth in number of units sold was less than the growth seen in the total Simcoe region (+8.0 per cent).
The average price of units sold during this time was $811,285. This was 33.3 per cent greater than what was seen during November 2020 YTD. This growth was greater than that of total Simcoe (+32.7 per cent). During November 2021 YTD, Simcoe County excluding Barrie accounted for 66.8 per cent of residential properties sold. This was 0.8 share points less than the same timeframe during 2020.
Innisfil
687 residential units were sold in Innisfil during November 2021 YTD. This was 9.2 per cent more than what was sold during the same timeframe last year (Jan. 1, 2020 to Nov. 30, 2020). The average price of residential units sold in November 2021 YTD was $861,222. This was 42.8 per cent greater than the average price during the same timeframe last year. During this time, Innisfil accounted for 7.3 per cent of sales in Simcoe County — a 0.1 share point change from the same timeframe last year.
Orillia
699 residential units were sold in Orillia from the beginning of 2021 to Nov. 30, 2021. This was 7.2 per cent more than what was sold during the same timeframe last year (Jan. 1, 2020 to Nov. 30, 2020). The average price of residential units sold during November 2021 YTD was $641,180. This was 35.8 per cent greater than the average price during the same timeframe last year. During November 2021 YTD, Orillia accounted for 7.5 per cent of sales in Simcoe County, 0.1 share points less compared to Orillia’s share in November 2020 YTD.
Essa
409 residential units were sold in Essa during October 2021 YTD. This was 10.5 per cent more than what was sold during the same timeframe last year (Jan. 1, 2020 to Nov. 30, 2020). The average price of residential units sold in November 2021 YTD was $813,999. This was 33.8 per cent greater than the average price during the same timeframe last year. During this time, Essa accounted for 4.4 per cent of sales in Simcoe County — 0.1 share points more than the same timeframe last year.
Year-over-year (November 2021 vs November 2020)
All residential homes
The Housing Price Index (HPI) showed a 36.8 per cent Year-over-year increase between November 2021 and November 2020.
Simcoe County
617 residential units were sold in Simcoe County last month — 13.2 per cent less than the same time last year. As well, the average price of residential units sold was $845,644, which was 30.0 per cent greater than that of November 2020.
City of Barrie
197 residential units were sold during November 2021 within Barrie. This was 16.9 per cent less than the number of units sold during November 2020. This decline was greater than that of total Simcoe County (-13.2 per cent).
The average price of residential Barrie units sold during November 2021 was $836.147 — 38.5 per cent greater than the average price of units sold during November 2020. This growth was greater than the average-price growth of total Simcoe County (+30.0 per cent). Sales in Barrie accounted for 31.9 per cent of residential sales in Simcoe County last month. This was 1.4 share points less than the same time last year.
City of Barrie – Apartments and condos
25 apartment and condo units were sold in Barrie during November 2021 — 21.9 per cent less than the number of units sold in November 2020. The average price of apartment and condo units in the City of Barrie during November 2021 was $559,692. This was 35.5 per cent more than the average price during the same time last year.
Simcoe County excluding Barrie
420 residential units were sold outside of Barrie during November 2021, and this was 11.4 per cent less than the number of units sold during November 2020. This decline was less than the 13.2 per cent decline in the total Simcoe region.
The average price of units sold in Simcoe County excluding Barrie last month was $850,099. This was a 26.1 per cent increase in the average price, Year-over-year. This growth was less than what was found in total Simcoe County (+30.0 per cent). Residential property sales outside of Barrie accounted for 68.1 per cent of sales in Simcoe County last month. This was 1.4 share points greater than the same time last year.
Innisfil
41 residential units were sold in Innisfil during November 2021, and this was 8.9 per cent less than the number of units sold during November 2020. This decline was less than the 13.2 per cent decline seen in the total Simcoe region. The average price of units sold in Innisfil last month was approximately $989,879. This was a 43.7 per cent increase in the average price, Year-over-year. This growth was greater than what was found in total Simcoe County (+30.0 per cent). Sales in Innisfil accounted for 6.6 per cent of sales in Simcoe County during November 2021. This was 0.3 share points more from Innisfil’s share of sales during the same time last year.
Orillia
47 residential units were sold in Orillia during November 2021, and this was 9.6 per cent less than the number of units sold during November 2020. This decline was less than the 13.2 per cent decline seen in the total Simcoe region. The average price of units sold in Orillia last month was approximately $691,428. This was a 33.6 per cent increase in the average price, Year-over-year. This growth was greater than what was found in total Simcoe County (+30.0 per cent). Orillia’s sales made up 7.6 per cent of sales in Simcoe County. This was 0.3 share points more than the same time last year.
Essa
31 residential units were sold in Essa during November 2021, and this was 22.5 per cent less than the number of units sold during November 2020. This decline was greater than the 13.2 per cent decline seen in the total Simcoe region. The average price of units sold in Essa last month was approximately $879,230. This was a 31.6 per cent increase in the average price, Year-over-year. This growth was greater than what was found in total Simcoe County (+30.0 per cent). Sales in Essa accounted for 5.0 per cent of sales in Simcoe County during November 2021. This was 0.6 share points less than Essa’s share of sales during the same time last year.
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Real eState
Former HGTV star slapped with $10 million fine and jail time for real estate fraud – Fortune
Back when mortgage rates and home prices were more reasonable and manageable, homeowners invested in fixer-upper properties and made them their own. Now these types of projects aren’t as popular. But in the early-to-mid-2010s, HGTV shows including Fixer Upper, Love It or List It, and Flip It to Win It were all the rage as viewers binge-watched dilapidated homes transform into dream properties.
But as it turns out, one former HGTV star’s house-flipping show was masking major real estate fraud. On Tuesday, Charles “Todd” Hill, was sentenced to four years in jail and ordered to pay back nearly $10 million to his victims following his conviction. Los Gatos, Calif.–based Hill, 58, was the star of HGTV show Flip It to Win It, which aired in 2013 and featured Hill and his team purchasing dilapidated homes and fixing them up. Hill then sold them for a profit.
“Some see the huge amount of money in Silicon Valley real estate as a business opportunity,” Santa Clara County District Attorney Jeff Rosen said in a statement. “Others, unfortunately, see it as a criminal opportunity—and we will hold those people strictly accountable.”
What did Hill do?
According to the indictment shared with Fortune, the accusations against Hill happened between 2012 and 2014, around the time his show (which lasted just one season) began. The indictment shows 10 counts of grand theft of personal property exceeding $950,000; three counts of embezzlement; and one count of diversion of construction funds. Hill could not be reached by Fortune to comment on the indictment, conviction, or sentencing.
Hill was convicted last year of the multiple fraud schemes, including scams that happened before his show aired. This included a Ponzi scheme with evidence showing that Hill had spent laundered money on a rented apartment in San Francisco, hotels, vacations, and luxury cars, according to a press release from the Santa Clara County District Attorney’s Office. HGTV did not respond to requests for comment from Fortune ahead of publication.
“To hide the theft, he created false balance sheets and got loans using fraudulent information,” according to the district attorney’s office. In another case, Hill diverted construction money for personal use. But one of the strangest accounts came from an investor who had poured $250,000 into a property he wanted Hill to remodel.
Instead, during a tour of the home, the investor “found it to be a burnt-down shell with no work done on it.”
After the district attorney’s investigation, Hill was indicted in November 2019 and in September 2023 admitted his guilt and was convicted by plea of grand theft against all of his victims. He’ll have to pay restitution of more than $9.4 million and serve 10 years on probation.
Victims who spoke at Tuesday’s hearing said they’re still reeling from the financial and professional damages from the fraud, according to the district attorney’s office.
A Winnipeg man’s registration as a real estate salesman has been cancelled after a family vacated their home on a tight deadline for a sale that never went through, then changed brokerages and, months later, got $60,000 less for their house than what they expected when they moved out.
A Manitoba Securities Commission panel found Reginald Wayne Kehler engaged in professional misconduct and conduct unbecoming a registrant when he signed a document on behalf of sellers without their knowledge, reduced the listing price of a home without their approval, and didn’t tell them for nearly a month that a potential buyer hadn’t paid a promised $100,000 deposit.
The sellers, identified as D.R. and P.R. in the panel decision released Wednesday, were awarded $10,394 from the real estate reimbursement fund. Kehler was ordered to pay $12,075 to cover costs of the investigation and hearing.
The sellers were a military family who had to move in 2020 after the husband was posted to Ottawa.
They chose Kehler as their listing agent, because he had helped them find the home when they moved to Winnipeg in 2018, and they had a good relationship with him, the panel’s decision says.
They listed their house in May and on June 15, 2020, accepted an offer of $570,000 with possession on July 15. A deposit of $100,000 was to be paid within 72 hours of acceptance of the offer.
Kehler was the salesperson for both the buyer and the sellers — but the sellers say he never told them that.
A form that indicated the sellers knew he was also representing the buyer, dated June 15, 2020, was filed.
While it appeared to be signed with the sellers’ names, they said they didn’t see it until March 2021. One of the two wasn’t even in Winnipeg on June 15.
“Kehler, in his interview with commission staff, acknowledges that the sellers never signed this document — we note that the purported signatures on the form look nothing like the actual signatures of the sellers on other documents,” the decision says.
Kehler told commission staff he’d been authorized to sign on the sellers’ behalf, which they denied. The panel found them more believable.
Once the deal was made, the sellers, believing they had just a month before the buyer would take possession of their home, quickly packed up and prepared to move with their two young children.
Buyer never made deposit
Meanwhile, the buyer hadn’t made the $100,000 deposit before the deadline — but Kehler didn’t tell the sellers.
Kehler told commission staff that was because he thought the deposit was still coming, and he didn’t want to cause more stress for the sellers.
On July 10, just five days before the buyer was to take possession and the day before the family was leaving Winnipeg, the sellers spoke to Kehler — but he still didn’t tell them the deposit hadn’t been paid.
Kehler “said everything was fine,” according to the decision.
It wasn’t until the evening of July 13, when the family arrived in Toronto on their way to Ottawa and just 36 hours before the scheduled closing, that Kehler told them he’d never received the deposit.
Eventually, they received $4,000 of the deposit, but the sale of the house never closed. The sellers scrambled to extend the insurance on their old home and make sure they continued to pay the utility bills, the decision says.
Home relisted
Kehler then recommended they relist the home, and it went back on the market at $574,900.
On Aug. 10, 2020, Kehler recommended the price be reduced to $569,900. Instead, the seller said he should reduce the price to $567,900.
But when the seller looked at the online listing on Aug. 22, it was listed at $564,900.
The sellers also asked Kehler about maintaining the property, since they were no longer in Winnipeg. He agreed he would, but friends ended up going and mowing the lawn, the decision says.
The sellers asked Kehler and his brokerage about what could be done to “make things right,” the decision says, but they never received any responses.
On Sept. 5, they hired a new brokerage to sell the home. Under the new real estate salesman, they accepted an offer on Dec. 13, and closed the deal Jan. 2, 2021, receiving $507,500 for the home.
Kehler’s actions were “contrary to the best interests of the public” and undermined “public confidence in the real estate industry,” the decision says.
Real eState
Dr. Phil left speechless after real estate agent claims that squatting is justified by colonization – New York Post
Dr. Phil spoke with property owners about how squatters are using legal loopholes to occupy properties, but one real estate agent argued it can be justified because of a history of “colonization.”
Wednesday’s episode of “Dr. Phil Primetime” featured one guest named Kristine, a real estate agent who “doesn’t think adverse possession is immoral,” but believes that “people with no housing dying from the elements is immoral.” According to the Legal Information Institute, adverse possession is where a “person in possession of land owned by someone else may acquire valid title to it, so long as certain requirements are met, and the adverse possessor is in possession for a sufficient period of time.” The requirements and period of time vary by state and city.
In her introduction on the show, Kristine argued that there are “multi-million dollar projects, and they’re just abandoned.” She added that she believes the land of those abandoned projects can be reclaimed.
She also noted she is working with a client who is “trying to occupy a property” that’s around 300 or 500 acres.
“It’s something that’s so large that you wouldn’t even notice what 2 acres is compared to how many acres are on there,” she said. “Adverse possession is a law that’s left over from both Spanish and English colonization, it is how they took the land from the native people, and it’s a process we can use to take that land back.”
“You said that if I’ve got 100 acres or 1,000 acres and somebody goes and gets in a corner of it and adversely possesses 5 acres of it, I’m not gonna miss it, I’ve got 1,000 acres anyway?” Dr. Phil asked Kristine.
“Well, yeah,” she responded. “Can you tell me, if you’re looking at 1,000 acres, could you tell me what 5 acres was?”
Dr. Phil’s jaw dropped, and he said, “Hell yes.”
A landlord named Tony argued with Kristine about how she believes the manner in which people inherit property should be taken into account when it comes to adverse possession.
“We’re not in 1776, we’re in 2024,” Tony said, sparking a wave of applause from the audience.
“Do you think that a corporation that makes over a billion dollars a year is injured by someone taking 5 acres of land?,” Kristine argued.
Another guest quickly interjected with “somebody is.”
Another guest named Patti confronted Kristine by arguing she does not use her car 24-hours-a-day.
“Playing out your scenario, then theoretically anyone on the street should be able to boost your car and drive it, because that car is just sitting around unused,” Patti said, sparking applause from the audience.
“I don’t have a billion-dollar net worth,” Kristine argued, which made Barry ask if having a billion dollars is where Kristine draws the line.
Dr. Phil concluded the episode by commending Kristine for her willingness to defend her beliefs, but said he “100%” disagreed with her.
“It is a lawful thing to do if you do it in the right way, I 100% disagree with your philosophy, but your facts are correct,” he said. “She’s not suggesting people go squat in someone’s home when they go on vacation, she’s talking about something completely different, at another level, and if you’re not a billionaire, she isn’t targeting you.”
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