Terry Germain has seen a lot of changes in real estate in the Estevan area during his career as a Realtor.
Terry recently celebrated his 30th anniversary as a licensed real estate agent, which is even more impressive when you consider the average real estate agent has a five-year career.
He ventured into real estate because he believed he needed a change in his life. So he moved to Estevan from Alida in 1990, and started with NRS Border Real Estate, earning his licence in 1991. The late Dennis Moe, who was a big part of the local real estate market for many years, was the NRS broker and Germain’s mentor.
“He showed me a lot of what to do and what not to do. I miss him. When I get in trouble every now and then, I always think back to what would he do, what would Moe do to get this deal done.”
He went to work building up his name and reputation in the community, not only through his work, but through playing sports such as hockey and golf, and by supporting local initiatives.
In 1995, Border Real Estate became a Century 21 broker. Terry would remain with them for another 22 years.
“I had some really good years, and of course, in any business, you have bad years,” said Terry.
In 2012, Terry was the No. 3 agent in the country for Century 21 in terms of the number of properties sold. He noted that it reflected how busy all of the agents in Estevan were, as the community was in the boom times.
It’s the type of market he hopes to see again before he retires.
Terry joined Coldwell Banker Choice Real Estate in 2017, and he has been working under their banner ever since.
“I enjoy the flexibility,” said Terry. “The biggest thing is finding families a home on their biggest purchase of their life. It’s very gratifying to me.”
He’s been through the boom and bust cycles that have hit Estevan. Terry noted those usually last about seven years. The late 1990s were a tough time to be in the real estate market. And the construction that occurred in Estevan from 2006-2014 created a lot of change.
“We have good industries in this corner,” said Terry. “I’m very fortunate I chose Estevan to make a career.”
When he first came to Estevan, he didn’t know anyone, and he didn’t know his way around town. Now he knows all the quickest ways around the city.
Terry has seen other changes as well. When he first started, the interest rates were at about 13 per cent. Lower interest rates are a big benefit for the real estate sector.
When he first started, they used to hand-deliver offers for purchases for clients, whereas now they will use email, and they’re using cell phones and other forms of technology to keep in contact with clients.
Thirty years ago, there was just one form to fill out to complete a purchase. Now they have to complete as many as 12.
“Real estate is not a 9-5 job. You’re on call 24-7,” said Terry. “You have clients that are on shift work, and of course, when they’re on shift work, you have to go on shift work.”
He noted on the day of the interview that he had a showing scheduled for 6:30 p.m. that night, The interview occurred on a Friday morning. Another showing was scheduled for two days later on a Sunday morning.
There is also an educational component that every agent needs to complete each year.
In the community, Terry has supported the Estevan Humane Society, Ducks Unlimited and the Royal Canadian Legion’s Estevan branch, and he’s part of the Estevan Strippers hockey club. Earlier this year, Coldwell Banker launched the Homes for the Hospital initiative, in which part proceeds from every home sold by a local Coldwell Banker agent will be directed to the St. Joseph’s Hospital Foundation.
There have been times in which he’s thought it’s time to move on to something else, but he’s toughed it out, and he still enjoys the work. He is glad he went into real estate, an industry he called “gratifying,” and he looks forward to remaining in it for a while yet.
“Listers last,” said Germain. “If you have the product on the market, you’ll make a go of it.”
Number of Sarnia-area real estate listings drops in July – Woodstock Sentinel Review
Many homes were still selling above asking prices in the Sarnia area in July but that statistic eased slightly from the previous month, according to the Sarnia-Lambton Real Estate Board.
Many homes were still selling above their asking prices in the Sarnia area in July, but that statistic eased slightly from the previous month, according to the Sarnia-Lambton Real Estate Board.
The local market’s sales-to-list-price ratio was 104 per cent in July, compared to 108 per cent in June, the board said in its monthly release of local market statistics
“We’re definitely starting to see it shift a little bit,” said board president Rob Longo. “Not monumental shifts, just nice and steady.”
The Sarnia-area market has been seeing homes sell above the list price for some time now, and the median selling price has also been growing.
But the year-to-date median house price in the market remained at $435,000 in July, the same level as June.
“I think we’re going to start to see prices stabilize themselves rather than the huge gains we’ve had over the last couple of years,” Longo said.
“We’re still seeing a busy market.”
There has been a total of 1,223 home sales locally since the beginning of the year, for a total year-to-date sales volume of nearly $606.8 million.
But the year-to-date number of homes listed for sale dropped to 136 in July, which is a record low for that month, Longo said.
The number sat at 217 in July 2020.
The number of active listings had been moving up earlier this year, “but we’ve seen that taper off,” he said.
The easing of pandemic restrictions may be one reason, Longo said.
“People are getting out more. They can travel, they can do different things. … Maybe their focus has shifted a little bit towards that after being cooped for so long,” he said.
But the lack of homes on the market is “a complex problem to solve,” Longo added.
“It really comes down to supply. It is not enough housing supply.”
That is a widespread issue across Ontario and not just in the Sarnia area, Longo noted.
“We’re not seeing enough new housing coming on to meet the demand, which creates a domino effect,” he said.
Issues include “red tape” required for housing projects and the high cost of construction materials, Longo said.
“Sarnia-Lambton specifically, we could easily handle a significant bump in the number of new homes or new units per year,” he said.
As of July, Sarnia had issued 68 single-family home building permits for 2021. That’s already better than the total of 65 issued for all of last year.
Currently, there is just a 24-day inventory of homes listed for sale locally.
“Typically, we would like to see a 30 to 60-day inventory … and we’re just nowhere near that now,” Longo said.
Those higher levels would indicate the Sarnia area was returning to a more traditional and balanced market, he said.
The median number of days listings are on the local market sat at eight in July, compared to 14 days in July 2019.
Metro Vancouver real estate market levelling out, demand remains high – News 1130
VANCOUVER (NEWS 1130) — It’s been a hot stretch for home sales in Metro Vancouver during the pandemic but the latest numbers point to a more moderate market.
Sales in July dropped off 12 percent compared with June, according to the Real Estate Board of Greater Vancouver (REBGV)
“Moderation was the name of the game in July. Home sales and listings fell in line with typical seasonal patterns as summer got going in earnest in July. On top of moderating market activity, price growth has leveled off in most areas and home types,” says Keith Stewart, REBGV economist in a statement.
It was by no means a slow month, however, with more than 3000 sales — which is well above the 10-year average.
“Low housing supply remains a fundamental factor in Metro Vancouver’s housing market,” Stewart continues.
“Home sales remain above average and we’re starting to see price increases relent as well. Going forward, the supply of homes for sale will be among the most critical factors to watch. This will determine the next direction for house price trends.”
The composite benchmark price for residential properties in the region was $1,175,500, which was up 13.8 per cent compared to July 2020 but the same as in June of 2021. Townhouses sold the swiftest, with properties being on the market for an average of 20 days. For detached homes, the average was 30.
Reserve Real Estate: Wine-Centric Homes Around The World Starting At $6 Million – Forbes
As the harvest season approaches, it’s worth looking at homes that wine lovers—from the person who likes to relax with a glass of chilled Chardonnay to the most skilled sommelier—could appreciate.
Winery with former Catalan monastery in the South of France
Location: Perpignan, Pyrenees Orientales—Occitanie, France
Once a Catalan monastery in the 19th century, this property sits in the middle of full-production vineyards. It also has views of both the sea and the mountains. The renovated main residence has more than 7,534 square feet of living space, including, of course, a state-of-the-art wine cellar.
Happy Canyon home in Southern California wine country
Location: Santa Ynez, California
Price: $12.25 million
This classic Mediterranean-style five-bedroom home, along with a guest and foreman’s house, is located on 106 acres in Happy Canyon, an American Viticultural Area in the Santa Ynez Valley. The idyllic property is surrounded by olive orchards and roughly 40 acres of south-facing land primed to nurture Rhone and Bordeaux grapes.
Beverly Hills mid-century home with wine storage
Location: Los Angeles, California
Price: $15.499 million
This four-bedroom home in prestigious Trousdale Estates is more modern Mad Men than monoculture, but along with walls of windows and a home theater is a sleek wet bar and plenty of wine storage. Enjoy a glass of California Pinot Noir while taking in the views of downtown and the Pacific Ocean.
Contemporary hacienda with its own wine production in Spain
Location: Malaga, Spain
This modern estate is surrounded by the nearly 500-acre La Melonera winery, which produces hundreds of bottles of high-scoring vintages. The four-bedroom hacienda features two lounges, a formal dining room and four en-suite bedrooms, including a master with a sauna and a dressing room.
Groupe Mercure, Hilton & Hyland, Inmobiliaria Rimontgo and Village Properties are exclusive members of Forbes Global Properties, a consumer marketplace and membership network of elite brokerages selling the world’s most luxurious homes.
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