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Do you love where you live?

4/26/2014

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According to a recent survey of Mississauga residents and business owners, 93% say that they are generally satisfied with life in Mississauga, and 84% would recommend Mississauga as a place to raise a family. But residents are not as committed when comparing “the Burbs” with the big city, as only 77% stated they were proud to live in Mississauga and only 69% believed that they had a better quality of life than in Toronto.

When asked what key words best described Mississauga, the top responses were: growing, family friendly, safe, culturally rich, neighbourhood feel, welcoming, balanced lifestyle, and community oriented. The key words used least to describe the city were: surprising, rich history, sophisticated, hi-tech, young, charming, visionary, naturally beautiful.

Forty years ago, when Rockwood was a still only a farmer’s field, Mississauga had just incorporated all the “little villages” within the area to emerge as a city. Back then, we were, for the most part, a suburb of Toronto, a bedroom community. For those who grew up in Etobicoke, East Mississauga offered affordable housing within a reasonable commute, by car, to downtown Toronto. But today’s Mississauga is different and not entirely by accident. A few years ago, it became clear that while we are the sixth largest city in Canada, we, unlike our counterparts, had no downtown. The new City plan quickly changed to bring a new urban feel to the City Centre. To boost the urbanization of Mississauga came a proliferation of new condos, from which came new demands for more transit.

You can really see the changing face of Mississauga when respondents of this survey identified the key attributes of city. My take is that the positive words: geographic location, cleanliness, parks and green space, safe streets, infrastructure, recreation activities, and economic prosperity came from the suburbanites among us. The elements that least describe us -- accessibility, downtown, transit, eniors Activities, Traffic Congestion, Night Life and Affordability--possibly came from the urbanites among us.

But overall, the survey identified that Mississauga offers its residents good facilities and amenities, for shopping (88%), education (80%) and health care (77%). While 66% of those surveyed were optimistic about the city’s future, almost half expressed concerns that the city is growing too quickly.

*Please note this article was originally published in the Summer 2014 edition of The Rockwood Times.
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2014 Predicted to be a seller's Market

3/4/2014

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All indications are that 2014 will be a banner year for those looking to sell. While there have been relatively few sales in Rockwood over the winter months, the selling prices are already reflecting strong growth over last year.

The prediction for 2014 is that we will experience a seller’s market in the 1st half of the year, followed by a more balanced market in the 2nd half of the year. According to Phil Soper, President of Royal Lepage;

“We predict continued upward pressure on home prices as we move towards the all-important spring market. In addition to normal demand, housing prices in Canada this year will be influenced by buyers who put off purchase plans in the very soft spring of 2013.

Talk of a ‘soft landing’ for Canada’s real estate market in the new year is misguided. We expect no landing, no slowdown, and no correction in the near-term. Conditions are ripe for as strong a market as we saw in the post-recessionary rebound of the last decade.”


Falling interest rates, will also increase demand in the market. Affordability coupled with an absence of sufficient listings to satisfy demand should put upward pressure on prices to the delight of sellers. As more homes come on the market, midyear, expect prices to cool down and level off for the back half of the year.

While home sales this spring are anticipated to bring record highs for Rockwood, unfortunately this is not a “carte blanche” for sellers.

Properties which are tastefully renovated and in good condition will be the hot properties. However, buyers will still consider purchasing and renovating to taste if the asking price plus the cost of renovation is within the market value of the neighbourhood.


*Please note this article was originally published in the Spring 2014 edition of The Rockwood Times.

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Is NOW a good time to SELL your home?

12/2/2013

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Author: Dale Biason, Director, Rockwood Homeowners' Association

That depends on what you own and why you need to sell. Traditionally, the detached market in Rockwood Village is best between March and June. Summer is slow, then it picks up a little in September but, by November, it falls sharply until spring.

This is primarily due to the fact that homes in the area are well suited for families. Families looking to buy in Rockwood Village probably have children in school. Therefore, once school starts, the market wanes, as families generally want to buy a home and get settled before the school year starts. Also, inventory at this time tends to be low, and buyers like choices.

This being said, there are local residents that want to either upgrade from a townhome to a semi-detached or detached home, and now is the best possible time to do that because lingering inventory is probably ripe for a good deal, especially if the sellers are motivated to sell before the spring market.

Townhomes are generally a different situation. There is less fluctuation in this market as the buyer pool is primarily composed of first-time buyers who may not have children, have very young children and “empty nesters” who are downsizing. There is not as much seasonality in the townhome market.

According to the Toronto Real Estate Board, 2014 will be a good year for sellers as inventory levels are anticipated to remain low and, with mortgage rates remaining stable, the table is set for a seller’s market.


*Please note this article was originally published in the Winter 2013 edition of The Rockwood Times.

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Home values keep moving up and up...

10/16/2013

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Author: Dale Biason, Director, Rockwood Homeowners' Association

In spite of forecasts predicting falling prices for 2013, home values continue to rise throughout the GTA. Rockwood Village is actually outpacing the market with an overall increase in value in excess of 8% in year to date sales versus the same period in 2012. The average increase in the GTA was 5.4%. While the number of sales is only slightly higher than last year, the number of sales continue to be strong.

The average sale price for a 4
bedroom home rose from $650,500 in 2012 to $720,500 in 2013. The most amazing part of this new benchmark is that 22% of these sales were over $800,000. Town homes posted similar increases. The average selling price of a townhouse was $401,000 driven by the availability of more 3 storey units this year.

Unlike last year, we are not hearing predictions of gloom in the market, however, mortgage rates have been increasing steadily and government restrictions on lenders is having an impact on affordability.

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"in-law-suites" by-law changes

3/21/2013

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Author: Dale Biason, Director
Rockwood Homeowners' Association

Published in Spring 2013 The Rockwood Times Newsletter

In January 2012, a Provincial mandate forcing all municipalities
to change their by-laws to allow secondary units “AKA” nanny or
in-law suites came into effect. In response, the City of Mississauga went to the people for their input in drafting a plan for by holding several meetings last year.

Attending residents voiced their concerns about non-resident
landlords, and the effect that this had on the neighbourhood. Absentee landlords basically neglected their properties and as a result the neighbourhood and market values were compromised. Armed with the feedback from those meetings, on February 25th, at a well attended meeting, the municipal planning and development committee rolled out their much awaited plan. The new bylaw could affect up to 30,000 homes, but as secondary units are currently illegal, there is no way to accurately predict the exact number of existing units. The committee obviously took note of community concerns and proposed that any dwelling with a secondary unit must be the principal residence of the owner, and that there be a mandatory parking space. Advocates of lower cost housing lauded the Provincial mandate, but according to Mayor McCallion, changes to make secondary units legal may backfire. She also voiced concerns about the cost of covering services from garbage removal to schools and warned that “this will affect your taxes.”


The mayor also said the province needs to listen to the municipalities on issues related to the units, such as by-law enforcement. Under existing legislation, enforcement staff can’t enter a home to check for a basement apartment unless the owner or occupant grants permission.“In my opinion, I think we better put the province on notice that unless they come through with the answers to (our) questions, we will delay the implementation,” said McCallion. “It’s okay for them to mandate us to do certain things but there comes a time when they have to comply with our requests.”

A supplementary report, including comments from the meeting, will be brought back to council for their approval at a later date.

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Market Watch: Buyers are anxious to purchase in rockwood!

3/17/2010

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Author: Dale Biason, Director, Rockwood Homeowners' Association

The housing market is red hot! If you are a Seller, over the next few months you can expect to sell your home quickly and for top dollar. Why? Inventory across the entire GTA is at record low levels.

With not too much choice, buyers are snapping up homes anxious to cash in on record low mortgage rates. The current days on market information for
Rockwood indicates an average selling time of 15 days which is twice as fast as the two previous years.


Buyers armed with mortgage commitments at all time low rates are anxious to purchase, but without a supply of existing inventory, homes are being sold very quickly. In many areas of Mississauga, bidding wars are becoming common practice, and some sellers are receiving as many as twenty offers on their properties. This generally results in a sale significantly more than the asking price - but for every boom, expect a bust! The current prediction is that the market will remain strong until summer then cool down. In April, new Federal Government rules will stiffen the mortgage qualification criteria. By the summer, mortgage rates are expected to start rising as the economy picks up, making homes less affordable Demand is therefore anticipated to decline, and in turn the bubble will inevitably burst.

Sellers should keep in mind the effects of the new HST will undoubtedly have impact on your pocket. Commission now taxed at 5%, will increase to 13%, along with legal fees and other services. These changes will come into effect July 1st, 2010.

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Rockwood Village is immerging as one of the “in demand” areas of Mississauga. Easy access it to downtown Toronto, Pearson Airport, all major highways and exceptional schools, makes our community very desirable. In the past two years we have seen the average price of homes rise a modest 5% from $513,800 in 2008 to a current average price of $538,000. Smaller
homes have shown the strongest gains, with semi’s and links increasing in the 10% range.


It would seem that in this hot market, home prices in Rockwood would also be soaring, however, a four bedroom home actually decreased in 2009 from $574,428
in 2008 to $566,350. Sales of four bedroom homes in 2010 are currently averaging $570,250.


*Please note this article was originally published in the Spring 2010 edition of The Rockwood Times.

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Audubon Park may be Rezoned for Housing

3/15/2010

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Author: Boris Swedak, Advisor & Life Member, Rockwood Homeowners' Association

The City of Mississauga is taking steps towards the rezoning of Audubon Park which is located in the North end of our Rockwood Community where Fieldgate Drive meets Audubon Boulevard.

Diana Rusnov at the City met with Ontario Realty Corporation (ORC)  staff in October to start the rezoning process. The ORC will be submitting an application to the Ministry of Municipal Affairs and Housing (MMAH) to remove the lands from the Parkway Belt West Plan. A public notice in a local paper will inform Rockwood residents of the proposed change. Once the application is signed off by the Minister, the City will receive notice that the lands are no longer in the Parkway Belt West plan.
Next, Mississauga’s Planning & Building [P&B] Department will undertake a City initiated Official Plan Amendment and Rezoning to designate and zone the lands in line with the abutting and surrounding area. While the ORC did mention that they would like some additional density for possible townhouses, Mississauga said that they would not support this but agreed to a single family zone the same as the R4 on the rest of Audubon. Finally, once the lands are designated in the Official Plan [OP] and Zoning By-law, the ORC will proceed to put the lands on the market. The successful purchaser will then need to make an application for severance to create the individual lots. This entire process is likely to take more than a year.

*Please note this article was originally published in the Spring 2010 edition of The Rockwood Times.

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