St Margarets Bay, NS

I went for a quick spin in the boat with my son yesterday. I wanted to test my new camera - A Canon 40D.

Here are a few shots I took as we rounded the end of Mason's Point looking in various directions.

This is looking across at sheeps head Island - An upscale oceanfront subdivision. One house fetched $825,000 Canadian last fall.

This is a shot looking at Alongside at Mason's Point . - Very popular!

And this of a house currently on the market at $989,000 on the end of Mason's Point.

And to finish it off - A photo of Shining Waters Marine. It has become a destination for visiting yachts and includes a great restaurant over looking the water. I recommend a water tour from Shining Waters. - Or for the more adventurous -Rent a sea kayak and see the area up close!

Just 25 minutes to Halifax -- The St. Margarets Bay communities remain highly attractive now and should Double in value over the next 10 years.

Masons Point , Indian Point - Places that had spotty sales in recent years. Well -things have turned around!

Masons Point for one has enjoyed 4 sales in the past months and the craigview shore and peggy's cove rd. have

seen the same in May!

The bench mark for the average 10 yr old home seems to sit at +- $580,000 -$595,000 . There are very little left on the market now, and it seems the average vendor is still apprehensive about selling. The sales are below their feel for what their home should be worth.

I can't see oceanfront homes increasing in value before mid-2009 . And if your willing too wait and do the improvements--- 7- 10 years should reap you around a cool Million.

But if your thinking of selling anytime soon you will still get a fair value.

PS - Check out my website at -- homesearchnovascotia.com

It is currently under construction.

If your a seller on the ocean than this is the year to jump in and join the crowd! 2 major sales in the last week! And one midrange . These properties sat for 2 years at Prices $50,000 - $100,000 more and finally they are reasonably priced. The influx from Alberta seems to be making a difference !

Land should move this season as well because new construction is all the rage. Bungalows are very popular with the people coming in. Open spaces with lots of windows seem to be a hit.

St. Margaret's Bay and it's closeness to Halifax will make any purchase pay dividends. I have ideas that things will basically double in the next 10 Years!

My new web site is at homesearchnovascotia.com

Why not check it out!

Well! As I see it ,after sitting on the sidelines for this particularly horrible winter. Taking the time to access all the MLS data. The homes that sat most of last year and the year before are finally settling out at prices In the mid to high five hundred thousand range. And I can say they all will sell this season -with out a doubt.

I sifted through my buyers this week and re-visited them all. They will all buy this season and that will create a need for new blood! So to speak. New homes to put for sale ,and in a tested market! For once! You will be able to create a CMA for a property and have some sense of security in knowing what it will indeed sell for. Based on the comparables.

It will be a year of reflection for those properties that are truly overpriced and need to come in line or else face another year of painful rejection.

Land should do well this year ,for new construction is the one bright light were it will fetch more dollars than regular homes. -Especially if the finishes are done with Quality in mind!

Allen Heights , Mason's Point , Sheeps head Island, Indian Point and Mariner's Anchorage will do well with their proximity to the city but the older ,outdated homes will still lag!

I look forward to good weather and Spring-like conditions and dealing with all my clients this season!

All the best!

Paul can be reached at 902-499-2950

Why not check out my new website at homesearchnovascotia.com

Catalog

Well, it’s been a mixed bag that’s for sure! It started out strong looking like things were going to bounce back after a dismal 2006 in St. Margaret’s Bay. The buyers showed up in mass and it looked like a blockbuster season. Then hardly anyone bought. A slump in the Calgary market was a major player blamed in the slowdown with a correction there at roughly $50,000. The eastern surge is evident as

people are retiring early, returning home and buying condos and oceanfront. There is a market for Higher priced luxury Homes as well.

The buyers just are not ready to dish-out the huge bucks for properties that haven’t seen an update for 20+ years. A further $50,000 reduction in properties led to no sales with a couple of surprises seeing two overpriced listings sell. However, this goes to show that new or newer homes will sell!

As far as sales go for 2008? Your guess is as good as mine I guess. The whole Halifax / south market inc. St. Margaret’s Bay, East Chester , Chester Basin is a great long term investment. The word on the street seems to be that there will be no increases in value till mid 2009. One word of wisdom I have for sellers is that dated homes don’t sell without big discounts in pricing. Location for boaters isn’t always a trump card either without improvements to property.

People will snap up land and build now that we finally have options on that front. But when the 7-8 lots are gone, expect big increases in lot prices as the 2.5 acre minimum will push prices up considerably.

The other trend will be the buying of tired properties and renovating for profit. It seems the differential between new and old houses has grown. It is a great opportunity for investors although it will require a bit a leap of faith. Good returns for those willing!

Feb 21/2008

The Bank of Canada is meeting on the first week of March and it looks like there is room for a rate cut. I am also hearing rumors of even more cute to come in coming months. If that is true - The season will be extremely busy with perhaps a bounce-back!