Real Estate Talk:
Choosing a neighbourhood
A sense of community is a big plus when selecting an area to purchase property
By Joseph Marovitch
In a time when one’s faith in humanity is tested as people fight over wearing a mask during a pandemic to ensure the safety of others, or governments refusing to hand over the reins of power in a free and fair election, ever so often, something occurs that is both refreshing and renews one’s view.
An incident occurred the other day in which a family reached out for help and residents from Westmount, NDG, Hampstead, TMR and CLS pulled together immediately.
A young couple with a little boy relocated from the U.S. to Montreal. Due to delays caused by the pandemic, the father and mother had not received their papers permitting them to be employed. Weeks passed and they ran out of money and food. The mother placed a message on an NDG Facebook page explaining their situation and asking for help. My wife, Tracey, read the Facebook post and, upon verifying the situation, took action. She told the young mother that help is on the way.
In choosing an area to purchase property, it is good to know where the schools and parks are, where the grocery stores, health clubs and bakery are located, but it is also good to know what your neighbours are like.
Tracey posted on her Facebook page what was going on. Immediately, people from Westmount, NDG, TMR, Hampstead and CSL donated funds and food. Tracey’s friend Barbara, the owner of the Monkland Tavern, donated boxes of prepared meals and groceries. We spent all of Sunday picking up the donations and gift cards for Super C and Provigo. By the end of the day, my SUV was full, from front to back, with enough groceries to last over a month.
When we pulled up in front of the family’s residence, the mother and son were in the living room window waving at us. We brought everything to the front door. The little boy was all smiles, and the parents were surprised and relieved. We left before any of us shed tears.
This was a moment when pride in where one lives is overwhelming. There was no hesitation from any of the wonderful people who donated to help this family in a time of need. We are still receiving calls to donate from all over the area we live and work in, Westmount, NDG, TMR, Hampstead and CLS. I am sure other municipalities would do the same, but these are the areas that responded.
‘This was a moment when pride in where one lives is overwhelming. There was no hesitation from any of the wonderful people who donated to help this family in a time of need.’
In choosing an area to purchase property, it is good to know where the schools and parks are, where the grocery stores, health clubs and bakery are located, but it is also good to know what your neighbours are like. In these areas, from what we experienced, people are friendly and caring. There is a wonderful sense of community.
Thank you to all the wonderful people that donated to help this family out.
Should you have questions or comments, please refer to the comments section at the bottom of the page. As well, to view past articles, click here.
Next article: Purchasing property in a corporation and its effect on taxes for the buyer
State of the market
One Montreal press headline states that the city remains a seller’s market with record sales for August. Another headline states that condo sales in Montreal are thriving.
Once again, certain real estate agencies are stating Montreal is having record sales and touting a seller’s market. According to the Canadian Mortgage and Housing Corporation (CMHC), Centris listings in Montreal are down 21% from 2019. It is a seller’s market because there is a limited supply of properties for sale. The measure used to determine record sales by the agencies is the price.
If only one property is for sale this year, and 100 buyers want it, there will be a bidding war and the price for the property will be exceedingly high. Does this mean it is a successful record sales year?
‘Place property on the market and there will be little competition in terms of other property for sale, and plenty of competition for buyers to buy.’
No! It means there are not enough properties for the demand. It means brokers are searching high and low to find property for their buyers in need. There is nothing wrong with the law of supply and demand but in a pandemic, can a seller’s market such as the one we are experiencing be considered a great market?
The market is skewed in terms of records, however, one thing is certain, it is a seller’s market for now. Place property on the market and there will be little competition in terms of other property for sale, and plenty of competition for buyers to buy.
There are reports that several companies in the U.S. and Canada have created vaccines for the virus. If this is the case, in the next year or so, once the population is vaccinated, and the fear of contagion is relieved, we should see an increase in property for sale and prices evening out.
Have a great week, stay safe!
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Joseph Marovitch has worked in the service industry for over 30 years. His first career was working with families from Westmount and surrounding areas, hosting children between the ages of 6 to 16 as the owner and director of Camp Maromac, a sports and arts sleep away summer camp established in 1968. Using the same strengths caring for the families, such as reliability, integrity, honesty and a deep sense of protecting the interests of those he is responsible for, Joseph applies this to his present real estate broker career. Should you have questions please feel free to contact Joseph Marovitch at 514 825-8771, or email@example.com