Podcasts about shifting into high gear

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Best podcasts about shifting into high gear

Latest podcast episodes about shifting into high gear

Canada's Podcast
Luxury Home Buying Shifting into High Gear - Toronto - Canada's Podcast

Canada's Podcast

Play Episode Listen Later Apr 3, 2024 6:06


In this video interview, Samantha Villiard, Regional Vice President, RE/MAX Canada, discusses the real estate company's latest luxury home market report. Samantha Villiard FULL PRESS RELEASE  TORONTO, April 2, 2024 /CNW/ — With the end of quantitative tightening in sight, luxury home-buying activity in most markets across the country are slowly shifting into high gear as buyers reap the benefits of softer housing values, according to a report released today by RE/MAX Canada. RE/MAX Canada's 2024 Spotlight on Luxury Report examined luxury home-buying activity in 10 markets across the country in the first two months of the year and found that, despite a disconnect between buyers looking for deals and sellers' price expectations, almost all regions reported a strong start to the year. Ninety per cent of markets experienced an increase in high-end sales, with more than two-thirds recording double-digit growth. Saskatoon led the country in terms of percentage increases, with a 57-per-cent uptick in luxury home sales, followed by Montreal at almost 56 per cent and Calgary at 52 per cent. Edmonton posted a 32-per-cent increase in luxury sales year-over-year, while Winnipeg, Halifax, Toronto and London reported increases of 19.4 per cent, 16.7 per cent, 14.4 per cent, and 9.4 per cent respectively. Only Ottawa saw a decline compared to year-ago levels, with sales down nearly eight per cent. “While figures remain off peak levels reported during Covid, the upswing in luxury sales signal a return to overall health in the country's major centres,” according to RE/MAX Canada President Christopher Alexander. “The ripple effect is already underway, with stronger home-buying activity at lower price points pushing sales into the upper end. In some cities where inventory levels are particularly challenging at the lower end, multiple offers have returned with a vengeance. While that isn't the case at the top end, pent-up demand does exist, and activity is gaining momentum.” Lower overall values, strong equity gains and downward trending interest rates are supporting demand for luxury product including freehold and condominium properties in markets across the country. While a disconnect is somewhat hampering activity in larger markets, with sellers holding out for Covid-era values and buyers seeking bargains, those serious about making moves are finding common ground. An ample supply of product exists in most markets, although some neighbourhoods are experiencing exceptionally low inventory levels at sought-after price points. An influx of fresh, new properties in the spring will renew buyer interest and activity, but chronic supply issues will likely persist at the entry level to luxury. “Equity continues to play a significant role in the marketplace, driving demand at the top end of the market,” explains Alexander. “Although overall gains have been elusive in recent years, a good percentage of buyers who purchased in 2018 and 2019 are well positioned to make their next moves. For example, in the Greater Toronto market, buyers who purchased homes at an average price in 2018 saw equity rise by almost 43 per cent by the end of 2023 ($787,842/$1,126,591). These buyers are coming to the table with a larger downstroke and reduced risk from a lending perspective.” Luxury home-buying activity is also undergoing change as a younger demographic moves into the upper end of the market. Demand is strongest for newer, well-appointed homes in traditional hot pockets. Turnkey properties are most coveted, although there are some buyers that are willing to renovate. The desire for more space and less congestion is once again an emerging trend, as acreage properties boasting large homes in suburban-rural or rural areas experience an upswing in popularity in London, Ottawa, Edmonton and Saskatoon. Building activity is also making a comeback, with new construction and infill on the rise in half of all markets examined. Some luxury buyers looking to expand their purchasing power are moving over into markets such as London (drawing buyers from the Greater Toronto Area), Halifax, Calgary, Edmonton and Saskatoon (drawing buyers from Ontario and British Columbia). However, activity among foreign buyers has fallen dramatically since the introduction of the Foreign Buyer Ban by the Federal Government in January 2023, which it extended through to early 2027. The impact has been palpable in the uber-luxe segment of major markets, such as Metro Vancouver and Toronto, as well as the condominium market in the City of Montreal. “While the idea of a Foreign Buyer Ban sounds good in principle, it makes less sense in practice,” says Alexander. “The ban was originally intended to make a greater number of properties available to Canadians and reduce upward pressure on housing values. The Bank of Canada's 10 rate hikes were all that was needed to achieve that objective, all the while supply remains at historical lows.” Condominiums have been a popular option this year, despite single-detached homes comprising the lion's share of luxury sales. Condo activity was strongest in Metro Vancouver, where sales climbed close to 70 per cent in the first two months of the year (27 versus 16). Solid condominium activity at the high-end price points was also reported in London, fuelled by empty nesters and retirees, and in Ottawa and Montreal. Halifax, which has limited condo product in the top end, has already recorded four sales to date. Some baby boomers in Saskatoon are also opting to downsize from larger homes in high demand areas to newer luxury condominiums in the core. “Buyer enthusiasm is evident as the spring market ramps up,” says Alexander. “Yet, despite the uptick, we're still seeing some factors constraining sales at luxury price points. Most significant is the tax implications at the uber-luxe levels, which have been weighing down the segment, particularly in the Greater Toronto Area.” On the sale of a $4 million home in Vancouver, for example, buyers will pay $90,000 in land transfer taxes. On the sale of a property of similar value in the City of Toronto, land transfer taxes will set buyers back close to $183,000. While sale under $7.5 million remain surprisingly resilient, only one sale has occurred over that threshold (and it was not located in the City of Toronto). The adjustment to higher taxation levels has been slow, but it is being offset somewhat by pent-up demand, with some deciding they can only hold off for so long. Others, meanwhile, are reluctant to list their properties, impacting supply, or are choosing to renovate rather than take a substantial tax hit. “Assuming a continuation of current economic fundamentals, momentum is set to climb at luxury price points from coast to coast,” says Alexander. “With recent inflation numbers coming in lower than expectations at 2.8 per cent, the possibility of further improvement in interest rates only strengthens growing optimism. Yet, there is an air of caution as the challenges of recent years remain fresh in the minds of buyers and sellers. Confidence is building, with the light at the end of the tunnel clearly visible. Demand is coming from a mix of high-income professionals/executives, retirees, empty-nesters, Gen X and millennials, newly landed immigrants, as well as large and multigenerational families – a good sign, as the diversity of buyers at the top end of the market today bodes well for its overall health in the future.” HIGHLIGHTS Condominium sales are up almost 70 per cent in Greater Vancouver. Multiple offers occurring in Calgary; some homes selling sight unseen. Some multiple offers are occurring in Saskatoon, although at the lower price points. This may filter upward in coming months. Alberta markets remain strong – Calgary and Edmonton have been bolstered by affordability, providing buyers with more bang for the buck. Double-digit sales growth was seen in two-thirds of markets (70 per cent or seven out of ten markets examined), including Halifax, Montreal, Toronto, Winnipeg, Calgary, Edmonton and Saskatoon. London is close behind with a 9.4-per-cent increase in top-end sales. The uber-luxe market has heated up significantly in Toronto, with a 77-per-cent jump in sales over $5 million (32 vs. 18), split evenly between the 416 and 905. On the west coast, demand for uber-luxe properties has fallen year-over-year, largely attributed to the Foreign Buyer Ban. Inventory in Toronto is tight in many hot-pocket areas, but values are being held in check for the most part, for now. MARKET-BY-MARKET OVERVIEW METRO VANCOUVER Although softer housing values and greater selection have bolstered sales of detached homes over $3 million in the luxury segment of the Metro Vancouver market in the first two months of the year, strata condominium sales have taken the lead in terms of percentage increases, with sales volumes up 68 per cent year-over-year. Twenty-seven strata condo sales averaging $4 million were recorded between January 1 and February 29 of this year. In contrast, there were 16 sales during the same period in 2023, with an average price of $4.5 million. Just over half of 2024's strata sales (14) occurred in Vancouver's Westside, compared to 11 sales in 2023. Luxury condo buyers at the top end of the market have adjusted expectations, allowing them to sidestep higher interest rates by choosing smaller apartments rather than larger units in the city's most coveted strata buildings. While 2024 appears to be the year of the condominium, year-to-date sales of luxury detached properties in Metro Vancouver have climbed as well, rising almost three per cent in the first of two months of the year. One hundred and fifty-five detached homes changed hands over the $3 million price point so far this year, compared to 151 properties sold during the same period in 2023. Nearly half of those sales (74) occurred in the Westside, where the lion's share of high-end activity occurs in communities, including Point Grey, Dunbar, Kerrisdale, Kitsilano, Kerrisdale and S.W. Marine Dr. Demand for detached housing at uber-luxe levels has fallen this year in large part due to today's high interest rate environment coupled with the Foreign Buyers Ban (implemented by the Canadian government in 2023 and extended until early in 2027). For every quarter point uptick in interest rates, a $50,000 increase in income is required. Those factors, combined with local municipal taxes, including a vacant home tax at two per cent of the total value of the property, and a hefty land transfer tax, have proven insurmountable. Just nine detached homes were sold over $6 million in the first two months of this year in Metro Vancouver, compared to 20 during the same period in 2023. Evidence of the shift in the detached uber-luxe market appeared in the second half of 2023 but has accelerated in the first few months of 2024. Fewer buyers and an increase in the number of high-end detached properties listed for sale in Metro Vancouver has resulted in some downward pressure on values, as evidenced from the sales stats. However, many sellers are holding firm, rather than entertaining lowball offers. Local buyers are the driving force in Vancouver's housing market, but momentum has yet to reach the upper price points for detached housing. Long-anticipated cuts to interest rates are expected to breathe new life into the city's luxury segment as the ripple effect moves through the overall market in the latter half of the year. Demand for both condominiums and detached homes at the top end is expected to improve, especially with rate cuts on the horizon, moving through 2024. CALGARY Calgary's juggernaut real estate market continues to advance, with home-buying activity at the top end of the market climbing 52 per cent in the first two months of 2024. Seventy-six single family homes changed hands over $1.5 million between January 1 and February 29, up from 50 properties during the same period in 2023. Nearly 60 per cent of sales took place in February. Considerable equity gains have allowed local homeowners to step up to larger homes organically in recent years, while luxury buyers from provinces such as British Columbia and Ontario are realizing their dollar stretches much further in the city. The vast majority of purchasers are active in the lower end of the luxury market, stimulating sales between $1.5 million and $2 million. Multiple offers are occurring, and some properties have sold sight unseen in recent weeks. Two-thirds of sales are taking place in Calgary's inner city – including Mt. Royal, Elbow Park, Britannia and Belair – and in neighbourhoods on the periphery of the core such as the Westside, which offer a balance of accessibility and amenities. Communities on the city's outskirts make up the remainder of sales, where the combination of the luxury lifestyle and acreage play a substantial role. Ninety-five per cent of luxury sales are now taking place between $1.5 million and $3 million, with uber-luxe sales over the $4 million price point representing a smaller share of the market. Strong activity at the lower end is likely connected to the mortgage sliding scale and general affordability, with higher interest rates having a greater impact on momentum at the top end. Just over 190 properties are currently listed for sale over $1.5 million, which represents approximately 15 per cent of total inventory. There is a 4.9-month supply of luxury product, which is likely to increase slightly with the spring market just around the corner. The city is on track for a record year of real estate activity in the high end, with any Bank of Canada cut to interest rates expected to encourage greater activity in the luxury segment. With an estimated 3,500 inter-provincial migrants arriving monthly, the pressure on the middle of the market, priced from $800,000 to $1.2 million, will promote spillover into higher price points, further enabling current homeowners to trade up with relative ease to more expensive homes. EDMONTON Edmonton's luxury market continues to fire on all cylinders as both local buyers and those migrating from Ontario and British Columbia spark home-buying activity over the $1 million price point. Sales of high-end homes are up 32 per cent year over year, with 33 single-family and condominium properties sold between January and February of 2024, up from 25 sales during the same period one year earlier. Detached homes in the $1 million to $1.5 million range remain the sweet spot in the market, with the vast majority of sales occurring between these price points. Demand has been greatest in infill core areas of South University, near the University of Alberta and the opposite side of the North Saskatchewan River, including neighbourhoods such as Crestwood, Laurier, and Glenora. The suburban outskirts have also experienced a surge in demand, given new construction in areas like Windemere and acreage properties offering homes with considerable square footage. Condominium sales, on the other hand, are fewer and farther between, with just two sales occurring this year, compared to three one year ago. Large families, multi-generational families, professional athletes, and high-income professionals are behind the push for luxury product in Edmonton. Equity gains have played a role as prices have edged upwards in recent years. Downsizing, lateral moves, and life events have also prompted movement in the market. The upward momentum in the high end is driven by in-migration and relative affordability, where buyers' dollars stretch further. An adequate supply of homes is currently available for sale in Edmonton, with many new builds under construction. The landscape is also changing in many established neighbourhoods as tired, older homes are renovated, or if need be, demolished and replaced by custom builds as investors and builders move to meet the demands of today's buyer. Continued strength and growth are forecast for Edmonton's luxury sector, where the high end represents approximately one per cent of total sales. There are 20 properties pending at present, which foreshadows the strength of the overall market heading into the spring. With lower interest rates on the horizon, there's little doubt that Edmonton's housing market will continue to thrive throughout the remainder of the year. SASKATOON Saskatoon's luxury market is off to a strong start heading into the traditionally busy spring market. Sales of high-end homes over $700,000 are up 57 per cent in the first two months of the year, with 22 homes changing hands between January 1 to February 29, up from 14 during the same period in 2023. A healthy economy and an influx of new Canadians and out-of-province buyers have buoyed home-buying activity in Saskatoon. Net international immigration to the province was just short of 30,000 in the first three quarters of 2023, according to Statistics Canada Quarterly Demographic estimates, provinces and territories: Interactive Dashboard. The strong demand for housing, coupled with a shortage of available properties, is placing strong upward pressure on pricing. Multiple offers are already occurring at lower price points – $350,000 to $500,000 – and threatening to spill over into higher-price ranges. Seventy-nine properties are currently listed for sale over $700,000, with 14 conditional offers pending. New home builders are trying to make up for time lost during the pandemic, when soaring construction and labour costs stymied homebuilding activity. Prices for new construction now start at $600,000 in Saskatoon, with pressure building on existing housing stock. The greatest demand exists at luxury's lower price points, between $700,000 and $800,000 at present, although that could rise in coming months as more sales push through higher price points. Affordability has been drawing buyers from other provinces and there has been a significant increase in young professionals working in oil and gas, mining, and technology. Many are buying properties with small acreage on the outskirts of town where prices are affordable. Equity gains have also played a role, helping local buyers to move up to the next level, particularly those in their late 20s and early 30, who tend to stay in the same neighbourhoods where they grew up. Many are choosing to renovate the older character homes on large lot sizes. Infill is on the rise in many established communities as empty nesters make lateral moves, trading larger lot sizes for newer homes with all the bells and whistles. Baby boomers are selling homes in desirable enclaves such as Caswell Hill, River Heights, Mayfair, Buena Vista, Mt. Royal, North Park, and the original homes along the South Saskatchewan River, and moving to some of the newer condominiums in the centre of the city or across the river in Nutana. The trend toward multi-generational living has also contributed to the uptick in luxury sales, with immigration helping to prop up this segment. With Saskatchewan's commodity-based economy expected to rebound, demand for homes in Saskatoon's luxury segment is forecast to accelerate in 2024. GDP growth in the province is expected to be the second highest in the country in 2024 at 1.3 per cent, following on the heels of Alberta, according to the 2023-24 Mid-Year Report by the Government of Saskatchewan. WINNIPEG Affluent purchasers were strong out of the gate in Winnipeg's luxury housing market, with sales up 19 per cent in the first two months of the year. Forty-three homes sold for over $750,000 between January and February of 2024, the most expensive of which topped $4 million, up from 36 sales during the same period last year. While interest rates have proven challenging for many buyers, the downward trend in mortgage rates has provided some additional incentive for sidelined buyers to take advantage of lower housing values in advance of a Bank of Canada rate drop. Pent-up demand will likely play a significant role in the city housing market once rates fall, placing additional pressure on Winnipeg's already tight inventory levels. Just 130 properties are currently listed for sale over $750,000. Most high-end sales are occurring at entry-level price points, typically between $750,000 and $1 million. Most buyers are young professionals, but there are a growing number of multi-generational purchasers who are looking for larger homes that can accommodate several families. In the city's older luxury enclaves, buyers are looking for dated properties with good bones that are ripe for renovation, allowing them to customize their homes and build value immediately. Demand for infill product is on the upswing, with teardowns now occurring with greater frequency in Tuxedo and North River Heights, where older character homes situated on sprawling lot sizes are commonplace. While many buyers choose to work within the existing structure, custom home builders typically target homes that have been neglected and require a full gut. In some communities, builders are working with the city to sub-divide larger lots in line with the city's commitment to increase density. Depending on their price point, buyers are typically drawn to established communities in Tuxedo, North River Heights, and Victoria Crescent in Norberry, or newer communities in the south including South Pointe, Bridgwater and Sage Creek. These new developments, part of a 15-year development plan between local homebuilders and the Province of Manitoba, are now nearing completion. The average price for a new home in these sought-after communities is close to $1 million. With affordability driving sales at the lower end of Winnipeg's housing market, spillover is expected into higher price points in the months ahead. Many buyers are reluctant to place their homes up for sale too early, fearing that they will not be able to find their next home. Those on the fence are waiting patiently for the right listing to come along, and once it does, they will pounce. LONDON London's housing market is off to a strong start overall with sales up almost 30 per cent in the first two months of the year. Multiple offers are occurring unabated between $400,000–$700,000, yet softer demand exists for luxury properties in the city. Fifty-eight properties have sold to date over $999,999, up 9.4 per cent from year-ago levels for the same period. Most luxury home sales occurred between $1 million and $1.3 million, with just 10 sales reported over the $1.3 million threshold, signifying some hesitancy at the high end. The exception to the rule is the rare uber-luxe property that offers acreage (two to 10 acres), a larger home, and a triple-car garage. Impeding activity at the luxury price point is a disconnect between buyers and sellers, with many sellers still listing properties at loftier 2021 values while buyers are looking for deals. An ample supply of luxury homes is available for sale heading into the busy spring market, where sales of all homes, including freehold and condominium properties, are expected to see increased pressure as the ripple effect takes hold. London continues to experience an influx of buyers from other areas of the province, with the largest segment coming from the Greater Toronto Area. Drawn to the value proposition of the city's residential real estate and its growing base, these affluent buyers are competing with local buyers at the mid-to-top end of the market. Most of the activity in the higher end is occurring in the Southwest (18 sales), where selection is greatest, and the Northwest (20 sales). The remaining sales are occurring on the outskirts of the city. Retirees and upgrading millennials are responsible for the lion's share of activity in the luxury segment, which represented 4.5 per cent of total sales (58/1,036) between January 1 and February 29. Most of the buyers in the city's luxury market are seeking newer homes that are bolder architecturally, with most offering a modern twist, including an open concept, high ceilings, and all the usual bells and whistles. Older character homes in the city's most prominent areas close to the university are also experiencing solid demand, but higher price points are proving challenging. Empty-nesters and retirees are opting for condominiums in close proximity to the city core. Many are willing to renovate older condominiums offering good square footage to their specifications. Home-buying activity in London's luxury segment is expected to heat up in coming months, with lending rates already reflecting the easing expected to impact overall interest rates in the months ahead. Momentum is anticipated to build as buyer's move to realize homeownership before housing values climb beyond their reach. GREATER TORONTO AREA The Greater Toronto Area's (GTA) luxury market has sprung back to life in the first two months of the year, with home sales over the $5 million price point leading the way. Thirty-two freehold and condominium properties changed hands between January 1 and February 29th, up 77 per cent from the 18 sales reported during the same period in 2023. Of the 32 properties sold over $5 million to date, 17 sales occurred in the 416, while 15 were located in the 905. While the new municipal land transfer tax on the luxury segment in the City of Toronto has had some effect on housing sales at the $3-million-plus price point, sales over $7.5 million have borne the brunt, with only one sale occurring over $7.5 million to date, compared to three during the first two months of 2023. Overall luxury sales priced over $3 million are trending higher than year-ago levels, with 167 freehold and condominium properties sold between January and February, up more than 14 per cent from the 146 sales that were recorded during the same period last year. Demand is particularly strong between $3 million and $4 million for detached product, but activity in this range is largely hampered by fewer listings available for sale. Just 115 properties were available for sale between $3 million and $4 million in the central core heading into the traditionally busy spring market. Some communities were down to single-digit inventory levels, including Leaside (3); Cedarvale, Humewood, Forest Hill South, and Yonge-Eglinton (5); Banbury-Don Mills (7); the Beaches (4); and Stonegate-Queensway (5). Realtors with interested buyers have been in constant contact with other realtors regarding upcoming listings in coveted hot pockets and heated price points. Inventory levels remain tight throughout the Greater Toronto Area, with few new listings coming to market at the top end. At least one-third of properties currently listed for sale over $10 million are carryovers from 2023. The disconnect between buyers and sellers remains an issue at luxury price points, where many sellers still expect their homes to fetch similar value to that of the Covid years. Buyers, particularly at uber-luxe levels, are submitting offers at 80 per cent on the dollar but quickly realize that high-end sellers are holding their ground in anticipation of a stronger luxury market down the road. Some areas are more impacted than others, with the Bridle Path in a world of its own, given that listings are especially scarce in the neighbourhood. Some downsizing is also occurring in the market, with empty nesters and retirees making more lateral moves into luxury condominium apartments, townhomes, and new builds on smaller-sized lots in desirable neighbourhoods. Eleven condominiums have sold for more than $3 million in the first two months of the year, compared to 10 between January and February of 2023. Despite strong demand, new builds on small lots are few and far between. Interest rates remain the greatest roadblock to homeownership at present, with many waiting on the sidelines for rate cuts. It's anticipated that once rates start to fall, Toronto's housing market will be exceptionally robust, with pent-up demand the driving force behind heated home-buying activity. OTTAWA While luxury home-buying activity in Ottawa was strong out of the gate, sales softened somewhat in February with affordability taking a backseat to inventory. Just 48 freehold properties priced over $1.2 million changed hands in the first two months of 2024, down over seven per cent when compared to the 52 sales that took place between January and February of 2023. Fewer homes are listed for sale at the top end of the market this year, which has hampered sales activity to some extent. Less than 400 properties are currently available over $1.2 million, 30 per cent of which are priced over $2 million. Equity has played a role in luxury sales this year, as existing homeowners seek to leverage gains against softer housing values. When combined with lending rates that are trending lower, buyers are finding that affordability has improved and what was once beyond their grasp is now attainable. Buying patterns have also changed in the high end this year, given increased demand for detached properties that offer greater privacy and larger lot sizes. As a result, there have been more sales occurring in suburban-rural neighbourhoods, including Stittsville, Kanata, Riverside South, Greely, and Manotick. Demand for more traditional areas, such as McKellar Heights and Westboro, have experienced an uptick. Fewer sales have occurred in Ottawa's coveted Golden Triangle. Luxury condominiums have experienced a slight increase in sales over year-ago levels. Twelve properties were sold over the $800,000 price point in January and February of 2024, up from 10 during the same period in 2023. Condominiums continue to be a popular choice amongst young professionals and downsizing empty nesters and retirees who want to be in the city's core. An ample supply of condominium apartments is available, with 39 properties currently listed for sale. Heated home-buying activity at lower price points, characterized by strong demand and multiple offers, is expected to spill over into Ottawa's luxury market in the second quarter of the year. While a bounce-back is anticipated in the top end, fuelled by lower lending rates and lower housing values, concerns in the civil service sector over the possibility of a federal election could serve to dampen buyer enthusiasm in the short term. CITY OF MONTREAL Strong activity early in the year has set the stage for a robust spring housing market in the City of Montreal's luxury sector. Year-to-date (January 1 – February 29) sales priced over $2.5 million have increased 55 per cent, with 14 freehold and condominium properties changing hands so far this year, compared to nine during the same period in 2023. As lending rates trend lower and consumer confidence levels climb, more buyers and sellers are expected to enter the top end of the market. While inventory is currently ample at higher price points, much of the existing supply has been carried over from 2023. That scenario is expected to change in coming weeks as sellers move to take advantage of the vibrant spring market. While some luxury buyers are still sitting on the fence, hoping values will fall, increased activity is expected to place upward pressure on pricing in the months ahead. Pricing is key in today's market, with local buyers more selective than in years past. Well-appointed homes are generating the greatest interest, especially when located in the city's premier communities that have withstood the test of time – Westmount, Outremont and Hampstead. Younger buyers, looking for more funky architecture, tend to be drawn to areas like Plateau-Mont-Royal, Rosemont-La Petite-Patrie and Villeray, where modern renovations and custom builds are cropping up. New infill properties with the latest finishes, located in established older neighbourhoods have also drawn the attention of some high-end buyers. While luxury condominiums sales are up over last year, the market has been somewhat affected by the Foreign Buyer Ban. Would-be buyers from France, the Middle East, and Asia have been shut out of the market in recent years, and the extension of the Federal government's Foreign Buyer Ban to early 2027 has not helped. Evidence of the slowdown is most noticeable at the $800,000 to $1.3 million price point this year. With the end of quantitative tightening by the Bank of Canada in sight, a much-improved housing market is expected to emerge in the City of Montreal. Sales are forecast to be especially brisk at the lower end of the luxury market, priced under the $1.4 million price point, where multiple offers are expected to be commonplace. HALIFAX Despite an overall flattening in residential real estate activity at luxury price points, sales of properties priced over $1.2 million in Halifax reported a 16 per cent increase in the first two months of the year. Fourteen sales occurred between January 1 and February 29, with 10 single-family homes and four condominium/townhomes changing hands, compared to 12 sales during the same period in 2023. Local executives and newly-landed immigrants have been behind the push for high-end housing in Halifax this year. Some softening in values have contributed to the uptick in activity, with the average price of a luxury property sold in 2024 hovering at $1.56 million compared to $1.73 million one year ago. Halifax's Peninsula area continues to draw the greatest number of buyers, with 50 per cent of sales occurring in the community to date. The area offers up a limited supply of stately character homes, some offering waterfront with riparian rights, in a picturesque setting within five minutes of the city core. While listings are scarce on the Peninsula, there are several properties in the area that offer potential for renovation where the money invested will usually provide a decent return upon sale. The remainder of sales activity is occurring in sought-after suburban neighbourhoods and on the outskirts of town where waterfront properties offering lake frontage are a popular choice. Newer, contemporary construction is cropping up in established older communities such as Bedford West, where modern homes are quickly snapped up. An influx of listings early in the year has contributed to greater selection at the top end of the market for buyers but have held price appreciation in check for sellers. This is primarily due to strong upward momentum at lower price points which has pushed more properties into higher price points. As a result, many would-be trade-up buyers have been sidelined, especially at the $800,000 to $1.2 million price point. There are currently 78 properties listed for sale over the $1.2 million price point. The economic impact of 10 rate hikes by the Bank of Canada in a relatively short period of time has affected a large percentage of local buyers, but falling lending rates are slowly drawing some back into the market at lower price points. On the cusp of the traditional spring market, the forecast is promising. Although the flurry of activity experienced during the Covid era is unlikely to repeat itself, the Halifax housing market is expected to ramp up in coming months. About the RE/MAX Network As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than 140,000 agents in over 9,000 offices with a presence in more than 110 countries and territories. RE/MAX Canada refers to RE/MAX of Western Canada (1998), LLC, RE/MAX Ontario-Atlantic Canada, Inc., and RE/MAX Promotions, Inc., each of which are affiliates of RE/MAX, LLC. Nobody in the world sells more real estate than RE/MAX, as measured by residential transaction sides. RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. RE/MAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children's Miracle Network Hospitals® and other charities. To learn more about RE/MAX, to search home listings or find an agent in your community, please visit remax.ca. For the latest news from RE/MAX Canada, please visit blog.remax.ca. Mario Toneguzzi Mario Toneguzzi is Managing Editor of Canada's Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list. He was also named by RETHINK to its global list of Top Retail Experts 2024. About Us Canada's Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast. With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders. The commitment to a grass roots approach has built a loyal audience on all our social channels and YouTube – 500,000+ lifetime YouTube views, 200,000 + audio downloads, 35,000 + average monthly social impressions, 10,000 + engaged social followers and 35,000 newsletter subscribers. Canada's Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story. businessCanada's Number One Podcast for EntrepreneursentrepreneursentrepreneurshipHomesHousingLuxuryReal Estatesmall business

What in the Weather?
5/4/23 - Hold on to your hats! The growing season may be shifting into high gear

What in the Weather?

Play Episode Listen Later May 4, 2023 19:24


What's going on with the weather?  Dust Storms in the midwest The Dust Bowl and how field practices changed What is the forecast for the coming week?  Date of frost in the state Dry time counterintuitively is better than wet

hats dry dust bowl growing season shifting into high gear
Outer Rim Transmission
Outer Rim Transmission #55 - Obi-Wan Kenobi Promotion is Shifting into High Gear

Outer Rim Transmission

Play Episode Listen Later Apr 25, 2022 118:11


On Outer Rim Transmission #55, we talk about a new promotional Obi-Wan Kenobi Image and more as the series gets closer. Plus, we discuss Amy Hennig's new Star Wars video game, and much more!   You can find the video version on my YouTube channel: (2) Outer Rim Transmission #55 - Obi-Wan Kenobi Promotion is Shifting into High Gear - YouTube While you are on the channel, please be sure to subscribe!    You can buy Outer Rim Transmission shirts here: https://teespring.com/shop/outer-rim-transmission?tsmac=marketplace&tsmic=error&pid=369&cid=6521   Chris- https://twitter.com/Starrapter Chris - https://www.facebook.com/Starrapter/ Chris - Starrapter@aol.com Milton - https://twitter.com/MiltonWebber7 Ben - https://twitter.com/RealBenMaynard Email us at: outerrimtransmission@gmail.com

Futurum Tech Podcast
Shifting into High Gear: Exploring Qualcomm's Automotive Announcements with Nakul Duggal

Futurum Tech Podcast

Play Episode Listen Later Jan 27, 2021 17:45


On this episode of the Futurum Tech Podcast – Interview Series I am joined by Nakul Duggal, SVP and General Manager of Automotive at Qualcomm. Nakul leads the team that manages Qualcomm's automotive strategy, the semiconductor and software portfolio, and the ecosystem development which includes partner relationships. With the explosive growth of electronic and autonomous vehicles, this is a very exciting part of the company to be involved in right now.   Our conversation covered several aspects around the changes in vehicle technology we've seen in the last few decades and what we can expect in 2021 as well as some exciting Qualcomm announcements. Check out my quick review below:   Qualcomm's Automotive Announcements   My conversation with Nakul explored the following:   A quick look into the expansion of the Snapdragon Ride Platform.   How Qualcomm has partnered with Amazon to bring Alexa technology into its Snapdragon Automotive Systems.   Why partnering with legacy automotive companies like GM makes a difference for Qualcomm.   What the Digital Cockpit experience will be like for consumers now that it is integrated with Alexa.   Bringing 5G into the automotive space through different aspects of the portfolio.   There is so much opportunity for growth in the automotive space and I am eager to see where these announcements from Qualcomm take us this year and beyond.   If you'd like to learn more about Qualcomm's automotive announcements be sure to read the recap from my colleague Olivier Blanchard: Qualcomm's Automotive Sector Strategy Shifts Into High Gear This Week With A Bevy Of Announcements   Disclaimer: This show is for information and entertainment purposes only. While we will discuss publicly traded companies on this show, the contents of this show should not be taken as investment advice.

Once Upon A Gene
Two Disabled Dudes - Kyle Bryant and Sean Baumstark

Once Upon A Gene

Play Episode Listen Later Aug 27, 2020 36:11


ONCE UPON A GENE - EPISODE 045 Two Disabled Dudes - Kyle Bryant and Sean Baumstark When I became a part of the rare disease community after Ford was born, I didn't feel like I had any community at all. After Ford was born, I felt less connected to my friends and I sought out a new community through podcasts because hearing stories made me feel connected. Sean Baumstark and Kyle Bryant, the hosts of Two Disabled Dudes podcast, both have Friedreich’s ataxia (FA). They have been an impactful resource in my journey and I'm so excited they're joining me. EPISODE HIGHLIGHTS Can you tell us how you became friends and connected as podcasters? We met through cycling, raising awareness and did a couple bike rides together, including The World’s Toughest Bike Race - Race Across America (RAAM). It starts in San Diego, California and ends in Annapolis, Maryland. A documentary crew followed us and that experience really brought us together.  What is FA? Friedreich’s ataxia (FA) is a rare neuromuscular disease that affects muscle coordination from the toes to the fingertips. It also has symptoms of scoliosis, diabetes, vision loss, hearing loss and life-shortening heart complications. It's a rare disease that affects about 1 in 50,000 people. The condition is dual recessive so both parents can carry the damaged gene, but there's no warning indicators that it will affect the children. The average diagnosis age is 5-15 years old.  Can you share the background of The Ataxian? The film is our race against time in the Race Across America. It's relay style and we had 4 cyclists. The team has 9 days to get from the west to the east coast with no time to stop. We used this race as an opportunity to call attention to FA and raise awareness about life in the rare disease world. Everyone on the team had one mission- to finish before the clock stopped.  Sean, tell us about your organization, Determinence. After being diagnosed, I started doing day hikes with friends to think, talk and wrestle with the new outcomes we thought life was going to bring. It was on one of these hikes that we realized a lot of other people in my community at that time were inspired because they knew I didn;t walk well and struggled with hiking and climbing. People were inspired to get out, which turned into a 5K, then a 10K and eventually a half marathon. This idea of helping people accomplish something physically challenging for them was the driving inspiration behind Determinence. Determinence is a non profit I founded with a mission to help people in the world of disability to climb mountains and cross finish lines. Supporters can donate to the cause or get involved with a team.  Kyle, tell us about your book, Shifting Into High Gear. All of my cycling adventures are documented through blog posts, articles and the documentary. My first ride from San Diego, California to Memphis, Tennessee wasn't documented anywhere so I worked with a writer to publish the book, Shifting Into High Gear. It was an amazing process, thinking about my experience, what it meant to me and what it may mean to someone else who reads my story. LINKS AND RESOURCES MENTIONED The World’s Toughest Bike Race - Race Across America (RAAM) https://www.raceacrossamerica.org/ Two Disabled Dudes podcast https://twodisableddudes.com/ The Ataxian http://theataxianmovie.com/ Determinence https://determinence.com/ Shifting Into High Gear https://kyleabryant.com/ TUNE INTO THE ONCE UPON A GENE PODCAST Spotify Apple Podcasts Stitcher Overcast CONNECT WITH EFFIE PARKS Website https://effieparks.com/ Twitter https://twitter.com/OnceUponAGene Instagram https://www.instagram.com/onceuponagene.podcast/?hl=en Built Ford Tough Facebook Group https://www.facebook.com/groups/1877643259173346/

James Miller | Lifeology
Create your Identity – Kyle Bryant

James Miller | Lifeology

Play Episode Listen Later Jan 13, 2020 27:43


https://www.jamesmillerlifeology.com/feed/ Kyle Bryant @kyleabryant reviews his book Shifting Into High Gear that highlights his remarkable tenacity of how he turned his ataxia diagnosis into a mission to help you create your identity. KyleABryant.com #kyleabryant #ataxia #bicycling #motivation #inspiration #disability The post Create your Identity – Kyle Bryant appeared first on James Miller | Lifeology®.

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AMFM247 Broadcasting Network
James Miller | Lifeology™ - Creating your Identity: Guest - Kyle Bryant

AMFM247 Broadcasting Network

Play Episode Listen Later Jan 12, 2020 27:44


Kyle Bryant reviews his book Shifting Into High Gear that highlights his remarkable tenacity of how he turned his ataxia diagnosis into a mission to help you create your identity. KyleABryant

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AMFM247 Broadcasting Network
James Miller | Lifeology™ - Creating your Identity: Guest - Kyle Bryant

AMFM247 Broadcasting Network

Play Episode Listen Later Jan 11, 2020 27:44


Kyle Bryant reviews his book Shifting Into High Gear that highlights his remarkable tenacity of how he turned his ataxia diagnosis into a mission to help you create your identity. KyleABryant

identity james miller kyle bryant lifeology shifting into high gear
Good Life Project
Redefining Possibility | Kyle Bryant

Good Life Project

Play Episode Listen Later Sep 16, 2019 68:57


Growing up in northern California, Kyle Bryant (https://kyleabryant.com/) loved being outside and being active. But, his late teens would change everything. He began experiencing a loss in balance, coordination and strength. A battery of doctors and tests eventually led to a diagnosis of Friedreich’s Ataxia (FA), a rare, progressive neuromuscular disease that currently has no treatment or cure. While grappling with this diagnosis and all it meant, Kyle discovered cycling, and, along with it, a new lease on freedom. He's now completed numerous ultra-distance rides including "The World's Toughest Bike Race", Race Across America in 2010, as part of 4-man Team FARA which is the subject of the documentary The Ataxian. He is the co-host of the Two Disabled Dudes Podcast and the author of a moving new memoir, Shifting Into High Gear (https://amzn.to/31R1QaR). Bryant is also the founder and director of the bicycle ride fundraiser, rideATAXIA for the Friedreich’s Ataxia Research Alliance (FARA). rideATAXIA is currently held annually in 6 locations and has raised over $7 million for Friedreich's ataxia (FA) research since 2007.Check out our offerings & partners: Peloton: Try the Peloton Bike in your home for 30 days. Free pick-up and a full return if you still aren’t certain the Peloton Bike is for you! Learn more about Peloton’s 30-Day Home Trial at onepeloton.com and use promo code GOODLIFE to get $100 off accessories with the purchase of a Peloton.ThirdLove: Go to ThirdLove.com/GOODLIFE now to find your perfect-fitting bra... and get 15% off your first purchase!Legacybox: There’s never been a better time to digitally preserve your memories. Go to Legacybox.com/GOODLIFE to get 40% off your first order.

James Miller | Lifeology
Shifting into High Gear: Guest – Kyle Bryant

James Miller | Lifeology

Play Episode Listen Later Aug 23, 2019 25:53


https://www.jamesmillerlifeology.com/feed/ Kyle Bryant @kyleabryant reviews his book Shifting Into High Gear that charts the course of his transformation as he journeys on a recumbent tricycle across the United States in the throes of Friedreich's ataxia, a life-shortening and disabling disease. KyleABryant.com The post Shifting into High Gear: Guest – Kyle Bryant appeared first on James Miller | Lifeology®.

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The Donna Seebo Show | Warriors for Peace
#2239 | Kyle Bryant | Shifting into High Gear: One Man's Grave Diagnosis and the Epic Bike Ride That Taught Him What Matters | Donna Seebo Show

The Donna Seebo Show | Warriors for Peace

Play Episode Listen Later May 30, 2019 59:59


Kyle Bryant is the founder and director of Ride Ataxia, a fundraising program of the Friedreich's Ataxia Research Alliance (FARA). This man's story of riding 2,500 miles in a recumbent trike is amazing! What is behind this personal story? Tune in and find out. It will not only touch your heart but make you realize that dreams can be fulfilled in the most unique and amazing ways.

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Ataxia, Did You Know?
#26 Kyle Bryant: Shifting Into High Gear at #2019AAC

Ataxia, Did You Know?

Play Episode Listen Later Apr 9, 2019 24:23


Hi #kNOwATAXIA Nation! Happy #thoughtfultuesday. Today, I’m sharing a podcast I did with my good friend Kyle Bryant. I was able to get a few minutes with him in Las Vegas at the Annual Ataxia Conference. Listen in as we talk about Kyle’s new book, Shifting Into High Gear and learn about his motivation for writing it. I think you’ll really enjoy hearing Kyle’s story. We discuss the rollercoaster of emotions experienced with the diagnosis of a rare disease, the impact this diagnosis has on the family, the importance of becoming an expert in that disease, the road to acceptance (not always a straight line) and the realization that your involvement can make an impact. Please enjoy and let me know your thoughts in the comments below. iTunes https://itunes.apple.com/us/podcast/k... SoundCloud https://soundcloud.com/user-536040137... Facebook https://www.facebook.com/ataxiadidyou... Website http://www.rideforjohn.org/ Instagram https://www.instagram.com/ataxian_/ Twitter https://twitter.com/AtaxiaFacts

las vegas soundcloud kyle bryant shifting into high gear
Mission Unstoppable
Kyle Bryant Rides for his Life, Riding for Freidreichs Ataxia

Mission Unstoppable

Play Episode Listen Later Mar 13, 2019 53:37


Kyle Bryant joins host Frankie Picasso on Mission Unstoppable Radio. Kyle Bryant was diagnosed with Friedreich's Ataxia, at 17, a life shortening illness that threatened to put this athlete in a wheel chair in his 20’s. Needing some control over his life, Kyle decided he would ride 2500 miles on his bike to raise money and awareness for his disease. Little did he know, he would really find himself.As the miles passed on by, Kyle Bryant made a huge self discovery, one that not only changed his own life, but impacts the lives of anyone who reads his brilliant memoir, Shifting into High Gear. You see, whether one is able bodied, have a rare disease like Kyle or face a hang nail, each of us has a choice about three things. 1. How we choose to define ourselves, 2. What limits we place on ourselves, and 3. How much of ourselves we are going to give back for the greater good!However, as time moved on, Kyle began to see that he was not in this disease by himself. That there were opportunities for him to build community and be an example for others despite the obstacles that lay before him, the FA community and their families Kyle chose to break free from self imposed limits and limited thinking. He allowed the definition of himself to expand even as his disease took away. some of his others see defeat. abilities. It is a courageous person who shows up to really Live live where

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AMFM247 Broadcasting Network
James Miller | Lifeology - Shifting into High Gear: Guest - Kyle Bryant

AMFM247 Broadcasting Network

Play Episode Listen Later Feb 28, 2019 25:53


Kyle Bryant reviews his book Shifting Into High Gear that charts the course of his transformation as he journeys on a recumbent tricycle across the United States in the throes of Friedreich's ataxia, a life-shortening and disabling disease. KyleBryant.com

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Never Ever Give Up Hope
Do You Know How to Listen to Your Body and Shift Into High Gear?

Never Ever Give Up Hope

Play Episode Listen Later May 26, 2018 29:43


Tammy Price is the author of Shifting Into High Gear:  A Guide to Listeing to Your Body  which became a BEST seller within ONE DAY of its release.  Tammy is co-founder of Shifting Into High Gear, a multifaceted company deeply rooted in the belief that we have all that we need within to be whole, healthy and happy people. Tammy is the co-creator of the program Heels to Healer (H2H) A Journey to Wholeness, The Practical Solutions Guide for Getting Back Into Balance.    Tammy is a cancer survivor, testament and advocate to the benefits of cultivating a deep "inner adventure' practice.  She is living and loving life by the motto   You Are All That You Need   Tammy's story will motivate you to shift into HIGH GEAR   Are you afraid you'll wake up at the end of your life feeling unfulfilled or that your health will fail you before you find your passion? Or maybe you are feeling bored and are struggling with getting enough rest, sleep and time for yourself? Whatever the case, you may be feeling like you want more out of life, desperate for change and craving the ability to feel amazing, heal old wounds and become more empowered than ever when it comes to steering your health and energy for the best.  Sounds like you're ready to put yourself in the driver's seat when it comes to transforming your health - mind, body and soul. You're ready to shift things into high gear!   

The Anxiety Podcast
TAP 170 - Tammy Price With An Intuitive Approach to Anxiety and Health

The Anxiety Podcast

Play Episode Listen Later Jan 3, 2017 62:08


Summary: In this episode I talk to Tammy Price, a certified Medical Intuitive on how she left her career in Finance to start a journey of self-healing, rebalancing and living authentically. Tammy explains how we need to look more inwards to discover how we can better our health and overall wellness.   Book Tammy discusses: “A Return To Love” by Marianne Williamson Coming out this year: “Shifting Into High Gear, A Guide to Listening to Your Body” by Nikki Hopewell & Tammy Price http://intuitivelyyours.com/   Quotes: “When step into what we are really meant to be doing, the anxiety falls away” “When we are not being who we need to be, our body sends us messages” “A medical intuitive is able to look through the body and identify, using intuition, areas of congestion”   In this episode you will learn: Tammy explains the spiritual aspect and human aspect of living How to get more in touch with your heart and your truth Being a happy person through bringing together mind, body and soul The difference between what you think you need to do vs with what you are meant to do Why it’s unhealthy to put tape over your anxiety How medical illness can be a result of suppressing the real you How the power of thought plays a role in our health and overall wellness Why humans attach negative energy on what you are eating How Medical Intuition works simultaneously with your Primary Care Physician  

Leadership Strategies for Women®
Shifting into High Gear

Leadership Strategies for Women®

Play Episode Listen Later Apr 28, 2009 30:47


Tune in for a Discussion on Shifting into High Gear. Our guest will be successful real estate investor and motivational speaker Keryl Pesce. Learn how to shift your beliefs, shift your focus, shift your direction and shift into high gear!

NEOSA Podcast
NEOSA Sales & Marketing SIG: Shifting Into High Gear - Speeding Up the Sales Process, Part 2, May 15, 2008

NEOSA Podcast

Play Episode Listen Later Jun 2, 2008 20:38


The sales process can be long, complex and frustrating, or it can be short, easy and very rewarding. Why the difference?What can a sales professional do to impact the process? A panel of business executives who make buying decisions on a daily basis and industry experts will discuss the sales process from their point of view. Topics to include: How the sales process works from a customer standpoint What slows the sales process How can you influence the speed of the process Why sometimes nothing helps What really happens behind the scenes When can you confidently "commit" to your boss Panelists include: Robert A. Schepens - President, Champion Staffing and Joe Smucny - CIO Tri-C

NEOSA Podcast
NEOSA Sales & Marketing SIG: Shifting Into High Gear - Speeding Up the Sales Process, Part 3, May 15, 2008

NEOSA Podcast

Play Episode Listen Later Jun 2, 2008 23:10


The sales process can be long, complex and frustrating, or it can be short, easy and very rewarding. Why the difference?What can a sales professional do to impact the process? A panel of business executives who make buying decisions on a daily basis and industry experts will discuss the sales process from their point of view. Topics to include: How the sales process works from a customer standpoint What slows the sales process How can you influence the speed of the process Why sometimes nothing helps What really happens behind the scenes When can you confidently "commit" to your boss Panelists include: Robert A. Schepens - President, Champion Staffing and Joe Smucny - CIO Tri-C

NEOSA Podcast
NEOSA Sales & Marketing SIG: Shifting Into High Gear - Speeding Up the Sales Process, Part1, May 15, 2008

NEOSA Podcast

Play Episode Listen Later Jun 2, 2008 24:49


The sales process can be long, complex and frustrating, or it can be short, easy and very rewarding. Why the difference?What can a sales professional do to impact the process? A panel of business executives who make buying decisions on a daily basis and industry experts will discuss the sales process from their point of view. Topics to include: How the sales process works from a customer standpoint What slows the sales process How can you influence the speed of the process Why sometimes nothing helps What really happens behind the scenes When can you confidently "commit" to your boss Panelists include: Robert A. Schepens - President, Champion Staffing and Joe Smucny - CIO Tri-C