June 2015 MLS® Statistics


Dominic ColeDominic Cole, President of the Peterborough and Kawarthas Association of REALTORS® states, “We have been experiencing some incredible levels of sales this year and June is no exception.  According to our records, it was the best June sales of all time with 389 total sales!  This is mostly attributed to low interest and mortgage rates, easy access to and from the GTA, the expansion of Peterborough’s Airport, the affordability of properties, and quite simply, the beauty of being in Peterborough and the Kawarthas, with all its lakes and recreation, arts and cultural activities.

As of July 1st, 2015, electronic signatures may be used by REALTORS® and consumers on real estate transactions for Agreements of Purchase and Sale.  The change comes after a long lobbying campaign by the Ontario Real Estate Association and its members that urged the provincial government to amend the Electronic Commerce Act 2000 (ECA) to remove an exclusion of the Agreements of Purchase and Sale.

On Wednesday July 8th, the Ontario REALTORS Care® Foundation’s 10th Annual Motorcycle Ride for Charity 2015 passed through Peterborough and stopped for lunch at the Peterborough Lions Community Centre, as riders headed from Toronto to Ottawa on their sponsored ride.  PKAR traditionally has a number of members who take part in and raise funds to give back to the community.  We are also hosting our 13th Annual REALTORS® Charity Golf Tournament at the Quarry Golf Club on Wednesday, September 16th, 2015.”  Please contact your local REALTOR® to find out more.

CaptureClick Here to watch Dominic on CHEX Newswatch as he talks about the booming Real Estate market.

Peterborough and the Kawarthas Association of REALTORS® Inc. Represents Approximately 440 REALTORS® in Peterborough City and County.  For further information please contact Dominic Cole, 2015 President at (705)743-9111

13th Annual REALTORS® Charity Golf Tournament

2014 REALTORS® Charity Golf Tournament
2014 REALTORS® Charity Golf Tournament

Peterborough and the Kawarthas Association of REALTORS® will be hosting our 13th annual REALTORS® Charity Golf Tournament on September 16th, 2015 at the Quarry Golf Club in Ennismore, where we will be raising funds for our chosen 2015 charities. Last year we raised $9,309.00 at the tournament and hope to surpass that total this year. With help from the Ontario REALTORS Care® Foundation, the 2014 funds raised were distributed amongst 4 local charities; Hospice Peterborough, Food for Kids, Elizabeth Fry Society and Kawartha Food Share.

Registration for the tournament closes on Monday, September 7th, 2015. Register by August 14th, 2015 to be entered into an Early Bird draw for a chance to win a destination trip!

 

If you have any questions, or are interested in becoming a Hole or Prize Sponsor, please contact Jessica Palombo at PKAR: Phone (705) 745-5724 or email events@peterboroughrealestate.org.

The Sponsorship Form can be found here.

For pictures from last year’s golf tournament, click here.

Electronic Signatures

Esigs iPad


REALTORS® Electronic Signatures may now be used on Agreements of Purchase and Sale, as of July 1st, 2015.

Patricia Verge, President of the Ontario Real Estate Association (OREA) states that, “The Agreement of Purchase and Sale is one of the most important documents in a real estate transaction. The ability to sign it electronically will make the process of buying or selling more efficient.” Furthermore she states, “the technology allows agreements to be filled out on a computer or tablet, changes can be tracked and documents can be transmitted with ease.” This is great news for real estate professionals as this will significantly reduce the time required to process a deal, helping to ensure that property buyers/sellers know sooner that they have successfully completed the transaction.

An electronic document signed by the parties using an electronic signature now satisfies the requirement of the Ontario’s Electronic Commerce Act (ECA), that an Agreement of Purchase and Sale, or other document that creates or transfers an interest in land, be in writing so long as it is accessible to be used for subsequent reference. The electronic document must also be capable of being retained by the other person and able to be printed and stored, not simply available for access.


REALTORS® and brokerages should consider the following when choosing an electronic signature technology provider: 

  • Identity Assurance: Ensure there is a process for signer authentication – make sure you understand the different levels of authentication available as they vary by product.
  • Strong Signature Association: There should be at least one reliable form of unique attribution (e.g., email address, UserID, etc) to link to the signature.
  • Document Integrity: System should assign identifiable document ID. Electronic documents should be tamper evident or tamper proof. Changes to documents post-signing should be prohibited or the document itself should indicate any tampering.
  • Audit Trail: An audit trail or certificate should be available to indicate who signed and when including items (not limited to) email address, date/time stamp, geo-location, IP address and authentication measures used to identify the signer. This audit document should also be tamper evident or tamper proof.
  • Storage: The provider should demonstrate its ability to preserve evidence of the transaction including storage, back up and disaster recovery.

Click here to view OREA’s official press release. 

Click here to view RECO’s Bulletin.

Esigs Announcement Group

Minister Meilleur and Patricia Verge, President of OREA, together with other dignitaries making the announcement on Electronic Signatures.

Phantom Offers: Bill 55

RECO

On July 1st, 2015, Bill 55 will make the good practices of Local Peterborough REALTORS® enforcible legislation from the Real Estate Council of Ontario (RECO) for all REALTORS® in the province of Ontario.  As per RECO, Bill 55 means that all offers on Real Estate sales must be submitted to the Brokerage in writing, eliminating Phantom Offers, and must be signed to be valid.  Furthermore, RECO states, “a registrant cannot indicate that they have an offer, unless they have a written offer.”

For more information on Bill 55, please visit RECO’s website at: http://www.reco.on.ca/professionals-news/understand-new-rules-for-handling-offers/

The Ontario Real Estate Association has created Form 801 to help REALTORS® comply with the new legislation.  More information about Form 801 is available on OREA’s Blog: https://www.oreablog.com/2015/06/faq-around-standard-form-801/


 

May 2015 MLS® Statistics

Dominic ColeDominic Cole, President of the Peterborough and Kawartha’s Association of REALTORS® states; “May 2015 has been our best May sales since 2005, with 406 sales.  If we break that down a little further, it’s the best residential sales since 2004! May also had the best Cottage/Recreational Property Sales in 5 years!” President Dominic Cole had a telephone interview with Chex Local News about Peterborough’s rapidly growing housing market and hot sales market; see the full segment here: http://www.chextv.com/2015/06/17/30534/

The Canadian Housing Market has had 4 straight months of increased sales, with a 3% increase from April to May 2015 according to statistics from the Canadian Real Estate Association (CREA). The full report on Canada’s hot housing market is on CREA’s website at: http://creastats.crea.ca/natl/

May stats

Local REALTORS® Support Local Downtown Farmer’s Market

On Wednesday June 10th PKAR was happy to have a booth at the Downtown Farmer’s Market! It was a beautiful morning with local food and local Realtors®.  Throughout the morning many Realtors® attended the market and helped us talk to people about How Realtors® Help with your real estate transactions.

YOUR LOCAL REALTOR®:

  • Has in-depth knowledge of the local community and neighbourhoods including schools, health care facilities and parks & recreation
  • Has a network of resources available i.e.: home inspectors, contractors, cleaners, financial sources and others
  • Works within the framework of insurance and liability coverage
  • Protect your interests and to look after details
  • Will work with you as an active partner in the process, working together every step of the way

For more information about the Downtown Farmer’s Market visit: http://ptbodowntownmarket.blogspot.ca/

Rebecca & Wendy at Market June 10-15

PKAR’s Annual Past Presidents’ Night and Silent Auction


On Wednesday May 27th, 2015, past and present members of Peterborough and the Kawarthas Association of REALTORS® gathered together to celebrate Past Presidents’ Night with a dinner and silent auction at the Evinrude Centre. The evening culminated with the presentation of the annual awards in additional to the presentation of New Member Certificates, and recognition for membership milestones for 25, 50 and 60 years.

The evening begun with a social hour, dinner and silent auction where Realtors® and their guests enjoyed some friendly competition for the generously donated auction items. The Silent Auction raised $6,802 for the Ontario REALTORS C.A.R.E.® Foundation, which will be donated back into the community of Peterborough at the end of the year.

After dinner Ron Abraham, Regional Director with the Canadian Real Estate Association, congratulated PKAR on its 70th Anniversary. Ron also presented PKAR’s Government Relations Committee with the CREA Award for Outstanding PAC Team for Small Boards.

PKAR honoured new members Jack Cole, Clint Gage, Eunice Given,Karen Little, Greg Ret, Jeffery Clark,Steve Macdonell, Alex McLeod, Mandy Spahn, Jason Mooney, Petula Jones and Jeff Wilson.

Sharon Lawes, Bill Smerhy and Dean Bridges were noted for being members who just recently hit the 25-year milestone, as well as Gail Burton and Joe Manacchio who were not in attendance.  All PKAR Members who have achieved 25 years of membership were also named and recognized.

Ronald Lawes, Broker and Owner of RJL Realty Ltd., Brokerage  was celebrated with an Honourary Fellow for his dedication and loyalty to the association. Ronald has been a member of PKAR since 1970 and served as the President in 1998. All Honourary Members were named and recognized by the Association.

The main focus of the night is honouring our Past Presidents'; who dedicated their time to the Association to ensure that organized real estate in Peterborough remains a professional business where our Realtors® are valued members of our community. PKAR’s Past Presidents in attendance were:

  • John Bowes, President 1957, Honourary fellow, PKAR member since 1950, 65 years in real estate
  •  Lorne Smith, President 1958, Honourary Fellow, PKAR member since 1951, 64 years in real estate
  •  Don Barrick, President 1973, Honourary Fellow, PKAR member for 49 years from 1965 to 2014, Retired
  •  Carl Oake, President 1976, Honourary Fellow, PKAR member since 1968, 47 years in real estate
  •  Fraser Hamilton, President 1983, Honourary Fellow, PKAR member since 1965, 50 years in real estate.
  • Sheila McConkey, President 1985, Honourary Fellow, PKAR member since 1969, 46 years in real estate
  • Deanna Weaver, President 1988 & 1994, Honourary Fellow, PKAR member since 1970, 45 years in real estate
  •  Vern Hamilton, President 1989, PKAR member from 1970 to 2012, Retired
  •  Judith Maxwell, President 1991, PKAR member from 1985 to 1993, Retired
  •  David Smith, President 1992, Honourary Fellow, PKAR member since 1983, 27 years in real estate.
  •  John McConkey, President 1996, PKAR member since 1985, 30 years in real estate
  •  Ron Lawes, President 1998, PKAR member since 1970, 45 years in real estate
  •  John Hope, President 2000, PKAR member since 1976, 39 years in real estate
  •  Richard Hawkins, President 2001 & 2011, Honourary Fellow, PKAR member since 1994, 21 years in real estate
  •  Barbara Jinkerson, President 2003, PKAR member since 1986, 29 years in real estate
  •  Robert Norman Clarke, President 2004, PKAR member since 1992, 23 years in real estate
  •  Jane Campbell, President 1988, PKAR member since 1988, 27 years in real estate
  •  Tom Bennett, President 2005, PKAR member since 1994, 21 years in real estate
  •  Clarence Collison, President 2007 & 2008, PKAR member since 1986, 29 years in real estate
  •  Barbara Criegern, President 2009, PKAR member since 2001, 14 years in real estate
  •  Christine Kemp, President 2010, PKAR member since 1998, 17 years in real estate
  •  Rennie Lowes, President 2012, PKAR member since 2003, 12 years in real estate
  •  Peter Ward, President 2013, PKAR member from 2001 to 2013, retired
  •  Ken Barrick, President 2014, PKAR member since 1998, 17 years in real estate
  •  And the current President Dominic Cole, PKAR member since 2008, 7 years in real estate

Also acknowledged were current 60 year members, Lorne Smith and John Bowes – the only REALTORS® in Canada who have been in the business that long!

Part of the Annual Past Presidents’ Night are the annual PKAR Awards. This year the Merit Award and Past President’s Award were given out. Diane Lloyd, Broker of Record for Homelife Preferred Realty Inc., Brokerage, was presented the Merit Award for her work with the Kawartha Pine Ridge District School Board, and 11 years on PKAR’s Government Relations Committee. Donald Barrick, retired as Owner and Broker of Record from Royal LePage Parkway Realty Brokerage was given the Past Presidents Award for his unwavering dedication to his profession as a REALTOR®. Donald was a Realtor® for 49 years and served as the President in 1973, when the average house price in the City of Peterborough was $33,731. Donald was on the Ontario Real Estate Association’s Arbitration committee for over 35 years, and volunteered for many PKAR committees including Political Action, By-Laws and Standard Forms, REBBA Regulations, Professional Standards, Arbitration, as well as creating the Renovating Committee in 1989, which became the Building Committee, which he was a member of,  in 2011. The 2011 committee finally saw the project come to fruition with the transformation of PKAR’s Charlotte Street Office after 22 years.

PKAR congratulates all members who reached Milestones and received awards this year. We are 70 years strong and proud to have such wonderful members.

DSCF1260

PKAR’s Past Presidents

 

For more photo’s from the night click here!


 

PKAR Local REALTOR®: Torchbearer for the Toronto 2015 Pan Am / Parapan Am Games Torch Relay


PKAR and fellow members, 

I am thrilled to announce to you that my nomination for a position as a torchbearer for the Toronto 2015 Pan Am / Parapan Am Games Torch Relay has been accepted and confirmed.

The event is taking place in Peterborough on June 4, 2015 at 5:40pm on the Trent Canal and I will taking part in a canoe paddle leading up to the Historic Lift Lock site at Lock 21.

I have to thank my fellow board members at the Canadian Canoe Museum for making this happen and our Executive Director Richard Tucker who surprised and honoured me with the idea for putting my name forward.

I look forward to seeing you on the Torch Relay as we rev up the 41-day journey to celebrate the spirit of the Pan Am / Parapan Am Games in communities across Canada.

Warmest regards,

Ron Whetung  

Pan Am Parapan Am Games 2015

 Ron Whetung
Sales Representative, since 1985


 

PKAR Has Opportunity Available for Summer Student

PKAR is happy to announce that we have been approved to receive funding from the Government of Canada under the Canada Summer Jobs Program to employ a summer student!  The candidate will be working for 8 weeks, performing day to day administrative tasks in a not-for-profit office setting.

We are looking for a candidate that meets the following criteria:

  • is between 15 and 30 years of age (inclusive) at the start of employment;
  • was registered as a full-time student during the preceding academic year;
  • intends to return to school on a full-time basis during the next academic year;
  • is a student in a secondary, post-secondary, vocational or technical program;
  • is a Canadian Citizen, permanent resident, or person on whom refugee protection has been conferred under the Immigration and Refugee Protection Act* and;
  • is legally entitled to work according to the relevant provincial / territorial legislation and regulations

Anyone interested is urged to contact Wendy Giroux, Executive Officer via email at: exo@peterboroughrealestate.org or in person, Monday to Friday from 8:00am to 3:00pm.

April 2015 Statistics

Dominic Cole
Dominic Cole, 2015 President of the Peterborough and the Kawartha’s Association of REALTORS® Inc. states: “Sales for the month of April are up 28% from last year and this is the best total sales for the month of April since 2007. When you take a look at where sales prices were over the last 10 years, you will realize that Real Estate is still one of, if not, the best investment you can make. The chart below provides some additional insight, but you will see that the comparisons in house prices from 2005 through 2015 have increase by 64.59% in the City and 94.34% in the County!”

chart

The Federation of Rental-housing Providers of Ontario (FRPO) is warning all tenants and landlords to be aware of an increasing number of apartment and rental fraud schemes. Rental scams vary but one scenario that we have experienced in Peterborough recently is identified in this example: A scammer poses as a landlord on websites such as Craigslist or Kijiji for a property that one of our REALTORS® has listed and says they require a deposit on the rental apartment (usually first and last). Once the money is paid, usually through a money transfer, the new tenant discovers there isn’t actually a rental home available, and their money is lost. 

For More Information on Rental Scams and How to Avoid them visit:

http://www.fcac-acfc.gc.ca/Eng/forConsumers/lifeEvents/movingOut/Pages/Housingf-Fraudese.aspx

https://www.rentboard.ca/renter/fraud_and_scams.aspx

http://www.frpo.org/rental-housing-fraud-on-the-rise-beware
chart stats