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Surreal Estate: $5.8 million for a Collingwood hockey haven with its own rink and sports bar



Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: dressing room

Location: Collingwood
Price: $5,850,000
Bedrooms: 3+1
Bathrooms: 3+1
Parking spaces: 11
Daena Allen-Noxon

The place

A one-of-a-kind two-house family estate with a sports bar, a dressing room and a 14-by-29-metre ice rink. Standing on a 25-acre lot in the ski town of Collingwood, this hockey fan’s paradise has been featured on Sportsnet’s Hometown Hockey with Ron MacLean.

The history

In 2013, a family of four built two houses on this huge property: one for living and one for leisure. They fashioned the main home as a winter chalet and built a rink in the second one to host birthday parties, friendly hockey games and fundraisers for charities such as Big Brothers Big Sisters of Canada—all while celebrating the country’s favourite sport.

Now that the kids have moved out, the parents are looking to sell the entire complex and downsize. Realtor Daena Allen-Noxon has fielded several calls from families with hockey-playing kids and even a few from hockey academies looking for new training facilities. “The scarcity of ice time in Ontario adds to the property’s appeal,” says Allen-Noxon.

Related: $3.9 million for a Huntsville home with a unique, award-winning design

The tour

The main house borders the Osler Bluff Ski Club and has access to a network of forested trails for skiing and snowshoeing. It has a sprawling front deck and an attached garage. 

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: facade

The foyer serves as a mudroom for snowy boots and leads to the powder room.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: foyer

Moving down the hall reveals the living room. The owners placed their dining table here to watch evening hockey games on that big-screen TV above the fireplace.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: living room

Here’s the kitchen, which comes with stainless steel appliances, plenty of storage, a marble peninsula and a bespoke hanging hood fan.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: kitchen

This reverse view shows off the custom oak cabinets, which accommodate a second sink and a coffee station.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: kitchen storage

Upstairs, there are five bedrooms. The main suite overlooks the front yard.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: main suite

This is the main bathroom, equipped with an elevated marble tub flanked by corner windows and a glass shower with a rainfall head.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: bathroom

Another bedroom features a massive bunk bed unit.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: bedroom

The home also has a finished basement with a fireplace, a guest bedroom and, yes, another giant TV.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: basement

The adjacent games room leads to the manicured side yard and deck via french doors.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: games room

Here’s a view of the entire property. Next up: an inside look at the leisure house up the path.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: aerial view

The leisure house’s crown jewel is its wood-and-polyethylene rink—covered with ice in the winter and transformed into a pickleball court for the summer.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: rink

Guests can take in games from this viewing gallery with its own kitchen, bar, TV and stone fireplace.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: viewing gallery

Another view of the gallery.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: bar

Above the rink is a dramatic loft with a wall-to-wall couch, an 80-inch TV and a ping-pong table as well as a gabled recess that currently holds an office.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: office

Post-game, players can relax in this state-of-the-art steam room.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: steam room

Here, even the bathrooms are peak Canadiana.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: leisure house bathroom

Next to the rink are a few essential amenities: a stainless steel fridge for Gatorade and a pinball machine to loosen up pre-game.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: pre-game amenities

The owners built a full dressing room, with rubber floors for skates and enough stations to host an entire hockey team.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: dressing room

And, yes, the place comes with a brand-new ice resurfacer.

Toronto, Real Estate, Surreal Estate, Collingwood Hockey Home: Zamboni

Have a home that’s about to hit the market? Send your property to [email protected].



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Former B.C. Realtor has licence cancelled, $130K in penalties for role in mortgage fraud



The provincial regulator responsible for policing B.C.’s real estate industry has ordered a former Realtor to pay $130,000 and cancelled her licence after determining that she committed a variety of professional misconduct.

Rashin Rohani surrendered her licence in December 2023, but the BC Financial Services Authority’s chief hearing officer Andrew Pendray determined that it should nevertheless be cancelled as a signal to other licensees that “repetitive participation in deceptive schemes” will result in “significant” punishment.

He also ordered her to pay a $40,000 administrative penalty and $90,000 in enforcement expenses. Pendray explained his rationale for the penalties in a sanctions decision issued on May 17. The decision was published on the BCFSA website Wednesday.

Rohani’s misconduct occurred over a period of several years, and came in two distinct flavours, according to the decision.

Pendray found she had submitted mortgage applications for five different properties that she either owned or was purchasing, providing falsified income information on each one.

Each of these applications was submitted using a person referred to in the decision as “Individual 1” as a mortgage broker. Individual 1 was not a registered mortgage broker and – by the later applications – Rohani either knew or ought to have known this was the case, according to the decision.

All of that constituted “conduct unbecoming” under B.C.’s Real Estate Services Act, Pendray concluded.

Separately, Rohani also referred six clients to Individual 1 when she knew or ought to have known he wasn’t a registered mortgage broker, and she received or anticipated receiving a referral fee from Individual 1 for doing so, according to the decision. Rohani did not disclose this financial interest in the referrals to her clients.

Pendray found all of that to constitute professional misconduct under the act.

‘Deceptive’ scheme

The penalties the chief hearing officer chose to impose for this behaviour were less severe than those sought by the BCFSA in the case, but more significant than those Rohani argued she should face.

Rohani submitted that the appropriate penalty for her conduct would be a six-month licence suspension or a $15,000 discipline penalty, plus $20,000 in enforcement expenses.

For its part, the BCFSA asked Pendray to cancel Rohani’s licence and impose a $100,000 discipline penalty plus more than $116,000 in enforcement expenses.

Pendray’s ultimate decision to cancel the licence and impose penalties and expenses totalling $130,000 reflected his assessment of the severity of Rohani’s misconduct.

Unlike other cases referenced by the parties in their submissions, Rohani’s misconduct was not limited to a single transaction involving falsified documents or a series of such transactions during a brief period of time, according to the decision.

“Rather, in this case Ms. Rohani repetitively, over the course of a number of years, elected to personally participate in a deceptive mortgage application scheme for her own benefit, and subsequently, arranged for her clients to participate in the same deceptive mortgage application scheme,” the decision reads.

Pendray further noted that, although Rohani had been licensed for “a significant period of time,” she had only completed a small handful of transactions, according to records from her brokerage.

There were just six transactions on which her brokerage recorded earnings for her between December 2015 and February 2020, according to the decision. Of those six, four were transactions that were found to have involved misconduct or conduct unbecoming.

“In sum, Ms. Rohani’s minimal participation in the real estate industry as a licensee has, for the majority of that minimal participation, involved her engaging in conduct unbecoming involving deceptive practices and professional misconduct,” the decision reads.

According to the decision, Rohani must pay the $40,000 discipline penalty within 90 days of the date it was issued.



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Should you wait to buy or sell your home?



The Bank of Canada is expected to announce its key interest rate decision in less than two weeks. Last month, the bank lowered its key interest rate to 4.7 per cent, marking its first rate cut since March 2020.

CTV Morning Live asked Jason Pilon, broker of Record Pilon Group, whether now is the right time to buy or sell your home.

When it comes to the next interest rate announcement, Pilon says the bank might either lower it further, or just keep it as is.

“The best case scenario we’re seeing is obviously a quarter point. I think more just because of the job numbers that just came out, I think more people are just leading on the fact that they probably just gonna do it in September,” he said. “Either way, what we saw in June, didn’t make a big difference.”

Here are the pros of buying/ selling now:

Pilon suggests locking in the rate right now, if you don’t want to take a risk with interest rates going up in the future.

He says the environment is more predictable right now, noting that the home values are transparent, which is one of the benefits for home sellers.

“Do you want to risk looking at what that looks like down the road? Or do you want to have the comfort in knowing what your house is worth right now?” Pilon said.

And when it comes to buyers, he notes, the competition is not so fierce right now, noting that there are options to choose from.

“You’re in the driver seat right now,” he said while noting the benefits for buyers.

Here are the cons of buying/ selling now:

He says one of the cons would be locking in the rate right now, then seeing a rate cut in the future.

The competition could potentially become fierce, if the bank decides to cut the rate further more, he explained.

He notes that if that happens, the housing crisis will become even worse, as Canada is still dealing with low housing inventory.

An increase in competition would increase the prices of houses, he adds.

Selling or buying too quickly isn’t the best practice, he notes, suggesting that you should take your time and put some thought into it.

Despite all the pros and cons, Pilon says, real estate remains a good investment.

According to the latest Royal LePage House Price Survey for the second quarter of this year, the average home price in Canada is $824,300. That’s up 1.9 per cent from the same time last year, and up 1.5 per cent from the first quarter of 2024.

In the Ottawa Housing Market Report for June 2024, the average price of a home was up 2.4 per cent from this time last year to $686,535, but down 0.6 per cent from May 2024.

Experts believe many potential buyers are still hesitant of jumping into the housing market and waiting for another interest rate cut of 50 to 100 basis points.

“I don’t think it’s going to be the rush that we see in the past, because people are used to more of a conservative approach right now,” said Curtis Fillier, president of the Ottawa Real Estate Board. “I think there’s still a bit of a hold back, but I definitely do think with another rate cut, we’ll probably see a very positive fall market.”

With files from CTV News Ottawa’s Kimberly Fowler



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Real estate stocks soar to best day of year on rate cut bets



(Bloomberg) — The stock market’s worst group notched its best day of the year as a cooler-than-expected inflation report stoked bets that the Federal Reserve will start cutting interest rates in September.

Shares of real estate companies jumped 2.7% Thursday for their biggest gain of 2024, climbing to their highest level since March as investors snapped up homebuilder, digital and commercial real estate stocks alike. Real estate also was the best-performing group in the S&P 500 Index Thursday, with volume that was around 30% higher than the 30-day average, according to data compiled by Bloomberg.

Arguably the most significant news to come from the latest consumer price index reading was a pullback in housing-related inflation. Shelter costs rose just 0.2% for the slowest monthly increase in three years. Homebuilders, which have risen 7.1% this year, were up 7.3% for the session, the most since 2022. Shares of D.R. Horton Inc., which is scheduled to report earnings next Thursday, gained 7.3%.

“Housing has really been the last shoe to drop in terms of winning the battle against high inflation,” Preston Caldwell, chief U.S. economist at Morningstar wrote in a note to clients Thursday. “Leading-edge data has strongly indicated for some time now that a fall in housing inflation was in the works.”

A rally in real estate stocks is bad news for short sellers who have been piling into the group, which is the worst performer in the S&P 500 this year. To start the week, short interest as a percentage of float hovered near 49% in the SPDR Homebuilders ETF, the highest level since February for the exchange-traded fund, according to data from S3 Partners.

Property owners are rallying as well. Real estate investment trusts, which were brutally penalized during the two-year run up in borrowing costs, advanced by as much as 3%. And the outlook for the group appears to have turned a corner, according Rich Hill, senior vice president and head of real estate strategy and research at Cohen & Steers Capital Management.

“We think this is a compelling backdrop for listed REITs especially as fundamental growth remains on solid footing,” he said, referencing the latest inflation data and rate outlook. “The rally that started in October of 2023 pushing returns more than 20% above their trough looks set to continue if inflation cools and interest rates continue to decline.”

Shares of industrial REIT Prologis Inc., which reports second-quarter results on Wednesday, rose 3.3% to hit their highest level since April. U.S. Treasury yields tumbled, with the 10-year bond falling to 4.2% and the policy-sensitive two-year note slipping to 4.5%.

(Updates indexes and stock prices for market close.)



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