Royal LePage survey shows a disconnect between attitudes of intended buyers and current owners in regards to renting and priority features

Toronto, ON, May 16, 2012 – A survey commissioned by Royal LePage Real Estate Services showed that intended recreational property buyers have different ideas on generating income from their properties compared to the actual decisions of those who are already in the market. Often, potential buyers will consider renting as a means to finance their purchase. The survey, which was conducted by Leger Marketing, polled both current owners and those intending to buy within the next five years. In addition, although many desired features of recreational properties remained the same, the survey showed a difference in priorities among the two groups surveyed.

Among intended buyers, 51 per cent said they would rent their property either to a tenant that was referred by someone they knew, or otherwise, to offset the cost of ownership. The cost of owning a recreational property generally includes mortgages, property tax, and utilities but can also include condo fees and snow removal depending on the property. However, among current owners, more than eight in ten (83 per cent) said they do not rent out their recreational property to offset carrying costs, though one in ten indicated that they would “like to.”

“Many Canadians aspire to own a recreational property because of the lifestyle benefit it provides but potential buyers must understand how they plan to finance their purchase to ensure they can afford it,” said Phil Soper, president and chief executive, Royal LePage Real Estate Services. “While renting out your property is an attractive option to improve affordability, the ability to do so profitably varies by region. Some areas have bylaws that restrict rental activity while other regions have strict noise regulations that might limit your ability to attract renters. It’s important to talk to a local agent to get as much information as possible about the community you are targeting, should you want – or require – rental income to make recreational property ownership possible.”

To make the dream of ownership a reality, potential buyers also indicated they’d be willing to:

• Reduce their discretionary spending (32 per cent);
• Purchase a fixer-upper (25 per cent);
• Purchase only the land at first and then build in the future (23 per cent); and
• Purchase with friends or family (22 per cent).

When asked about the most sought after features of recreational properties, more than half of all respondents (55 per cent) ranked “quiet” as the feature they most desire. Four-season use (38 per cent) and boating/fishing (25 per cent) round out the top three most desirable features.

While the top three were consistent among current and intended purchasers, peace and quiet was more of a priority to current owners (57 per cent) than intended purchasers (47 per cent). Interestingly, four-season use was a greater priority for intended purchasers (46 per cent) than current owners (35 per cent).

“Recreational properties are an excellent way to bring families together and to help reduce the stress associated with city living,” Soper said. “This type of real estate can also be a solid investment, particularly if you are interested in a cottage or cabin on the waterfront. Recreational property supply near Canada’s urban centres is fixed while populations grow. Much like when purchasing a home in the city, it’s important to find the recreational property that will suit your needs and your budget.”

The survey was commissioned as part of the 2012 Royal LePage Recreational Property Report, an annual market analysis of recreational property prices, trends and activity in selected leisure markets across the country.

Article courtesy of Royal Lepage.ca

Full article at http://bit.ly/KEqvUJ

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Property Details:

MLS # 2123231

- Two Storey brick and vinyl Cape Cod

- Mirtren built

- located in East Hill, Belleville

- 3 + 1 bedrooms

- 2 ½ baths

- open concept formal living and dining rooms with 9 foot ceilings

- gleaming hardwood flooring

- double car garage

- central vacuum

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May 2, 2012

The Quinte and District Association of REALTORS® statistics prove that we are still experiencing a very healthy local real estate market, for 2012.  Sales are up 25.8 % for residential properties from this time last year.  Active residential listings are showing a decrease of 4.1% from last year.  Though the market remains strong, it should be noted that the average sale price of a residential property, compared to one year ago, has increased by less than 1%.  Almost 45% of residential sales in the Quinte region were below the $200k mark, with sales from $200k to $400k being responsible for over 50% of sales volume.  Over $400k had a total of less than 4% of total sales for April.  Mortgage rates have remained historically low and should remain as such in the foreseeable future.  Home ownership continues to be affordable to a wide segment of the population.

The Quinte & District Association of REALTORS® Inc. serves the interest of 366 licensed real estate Agents in the Belleville, Quinte West, Prince Edward, Madoc, Marmora, Stirling, Tweed, Brighton, Campbellford/ Seymour, Colborne, and Deseronto areas as well as other adjacent communities.

Property Details:

MLS # 2122944

• Bay of Quinte waterfront home for lease
• $2200/mth +
• 4 bedrooms
• 2 baths
• 2 car garage
• Open concept bungalow
• Main floor laundry

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TORONTO, April 5, 2012 – The Royal LePage Shelter Foundation is thrilled to announce its fundraising results for 2011: a record-setting $2 million was raised to support women’s shelters and to help stop family violence in Canada.

Royal LePage is the only Canadian real estate company with its own charity, empowering sales representatives to make a tangible difference in their local community and across the country. Now in its 14th year, the Royal LePage Shelter Foundation supports 200 shelters across Canada, helping more than 30,000 women and children every year. It’s also committed to funding violence prevention and education programs for youth.

Since its inception, the Shelter Foundation has raised more than $14 million with the support of generous Royal LePage agents, brokers, managers and staff, along with members of the communities in which they live and work and local and national sponsors. Since Royal LePage covers the administrative costs of the Shelter Foundation, 100% of the funds raised goes toward the cause.

“Violence against women affects thousands of Canadian families,” says Shanan Spencer-Brown, executive director of the Royal LePage Shelter Foundation. “Half of all women in Canada have experienced at least one incident of physical or sexual violence since the age of 16 and 360,000 children are exposed to family violence every year. That’s why we are so committed to raising funds to provide a safe haven for women and children and to stop the cycle of family violence.”

The Shelter Foundation’s signature event is the National Garage Sale for Shelter, a one-day charity garage sale taking place on May 12, 2012 at Royal LePage offices across Canada. Members of the community are encouraged to join in and de-clutter for a cause. Donate gently used items at any participating Royal LePage office by Friday, May 11 and visit your local Garage Sale on Saturday, May 12. For more information, please contact your local Royal LePage office or visit: www.royallepage.ca/shelter.

“Helping You Is What We Do™ is not just a tagline, it is our corporate philosophy and it translates into a collective commitment to giving back to the community,” said Phil Soper, president and chief executive of Royal LePage. “Royal LePage professionals are tireless in their efforts to create safer homes and safer communities through the Shelter Foundation.”

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Property Details:

MLS # 2122226

•  1 ½ storey home
•  Vinyl siding
•  2 bedrooms
•  2 baths
•  52 x 78 lot
•  2 gas fireplaces
•  Large enclosed porch
•  Laminate flooring
•  Close to downtown, parks and shopping
• Presently rented for $1100/month-tenant pays utilities

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