One of the largest real estate companies in the U.S. is poised to open its first Montreal office – with a name even Quebec’s language watchdog would approve of.
Texas-based Keller Williams Realty Inc., with about 700 offices and 80,000 brokers around the world, is to open its first Quebec franchise in August under the name KW Urbain, a co-founder of the new venture tells me.
“Out of respect for the public in Quebec, we decided to use a more neutral-sounding name,” said Michel Beauséjour, who is opening the KW’s downtown office.
Beauséjour is also the former CEO of the Greater Montreal Real Estate Board, and the Fédération des chambres immobilières du Québec. He resigned from his position in 2010, a few weeks after stirring controversy during an interview with La Presse when he said Quebec’s new Brokerage Act would bring an end to the “era of peddlers in home resales.”
The deliberate choice of a name, easily understood in both of Canada’s official languages, comes at a time when six Canadian subsidiaries of major U.S. retailers are suing the Quebec government for a recent crackdown on English language trade names on signs. The retailers, including The Gap Inc., Best Buy Co., Inc. and Costco Wholesale Corp. went to court, following demands by the Office québécois de la langue française that they add French phrases or slogans to their signage.
Since Keller Williams operates through franchises, Beauséjour said he and his partners had more leeway in choosing a name for the Quebec market. KW Urbain will compete with mainstream real estate agencies like Royal LePage, Sutton, Via Capitale and Re/Max.
Keller Williams already operates in five other Canadian provinces, including Ontario and B.C. Beauséjour said the banner took longer to open in Quebec, not only because of the province’s distinctive culture, but because of its unique real estate laws, which are the strictest in Canada.
“It’s much easier for an agency like Keller Williams to go to Toronto than to Montreal, not just for the language but for the culture,” Beauséjour said. “It’s definitely a banner that’s developing nationally.”
Parti Québécois Finance Minister Nicolas Marceau warned his federal counterpart Monday that any further tightening of the rules on insured mortgages would have “negative consequences” for Quebec’s economy and housing market.
Unlike the double-digit sales growth seen recently in Toronto and Vancouver, Montreal’s housing market has been relatively flat over the last two months. This widening gap between activity in Canada’s three largest cities is provoking Quebec fears of a fifth federal crackdown on mortgage rules to cool what BMO described as a November “heat wave” in Toronto’s housing market.
“If they start to tighten rules again because everything is going well in Toronto, that would be a problem,” Dominic St-Pierre, Quebec region director of Royal LePage Real Estate Services, told me last month.
“It’s a real concern for us.”
In an economic update last week, Flaherty said he would tightening mortgage rules once again, if needed, citing record-high “consumer debt” and a “resurgent housing market” as top domestic threats to Canada’s economy.
On Friday, the Canadian Real Estate Association reported that national resales rose 8.3 per cent in October, compared to the same month in 2012, even as the average sale price of a home rose 8.5 per cent on an annual basis.
Quebec’s real estate market is now considered balanced, with buyers now having the upper hand when purchasing condos.
“No new measures need to be taken to curb Quebec’s residential sector, contrary to other Canadian markets that are showing signs of overheating like Toronto and Vancouver,” Marceau wrote in a release.
“I think it’s very logical that (finance minister) Marceau is taking this position,” said Nicolas Ayotte, president of the Via Capitale real estate agency. “I think Quebec might want to consider further actions like plans to promote home-ownership.”
Residential construction accounts for seven per cent of Quebec’s GDP.
I hate to speak ill of my own neighbourhood, but I think it’s pretty evident that the downtown condo market is going through a bit of a price correction.
Last year, condo prices tumbled further in Montreal’s downtown Ville Marie district than anywhere else on the island, new data from the Quebec Federation of Real Estate Boards show. Last year, the price of a median condo declined six per cent on an annual basis to $305,000, the QFIB’s latest barometre report says.
(Click on the link for the report in English, or in French.)
On a per square foot basis (average), it’s the first time that condo prices have declined in Ville Marie since 2009, dropping 1.2% year over year. Here are Federation economist Paul Cardinal’s figures (average per square foot):
2011 – $395
2012 – $416
2013 – $411
Cardinal doesn’t like to talk about corrections: “we’re adjusting to the new reality of the market.”
While Cardinal’s remark might appear understated, I agree that a six per cent drop is hardly post-crash Florida territory. Long term, values are still rising; since 2008, the median price of a downtown condo has grown 20%.
And the 18% drop in the median price of a single family home is not quite so alarming when you consider that only a limited number houses are sold in Ville Marie, which can widely skew the results (prices were up 45 per cent in 2011).
But real estate brokers tell me their clients are simply not getting the same prices that their homes might have fetched in 2011, or early 2012. What’s most worrisome for me is that active listings for downtown condos are up 41% in 2013, compared to a year earlier.
What that means is a smaller pool of buyers (fewer can qualify for mortgages now because of the tighter rules introduced in July 2012) have 41 % more condos to choose from.
“I think it is a price correction,” Royal LePage broker Raymond Singh tells me.
Even the price of once hot plexes is down a bit. Singh has heard of one investor who is trying to sell a handful of plexes in Ville Marie. They are renovated and are listed at market value, but he has not yet attracted a buyer.
In Greater Montreal – where single family home prices grew 2% to $279,500, and condo prices remained flat at $227,000 – homeowners now trying to sell can console themselves if they bought a decade ago. Prices have more than doubled since 2001.
But if you bought two years ago, prepare to wait, or take a hit.
2264 Duvernay St., condo, 1 bedroom, 1½ bathrooms, two-storey unit in the Atwater Market area, private entrance, fireplace, private terrace. Built in 1999. Taxes (municipal and school): $2,431. Condo fees: $109 per month. Valuation: $249,600. Asking price: $299,000. Sold for: $285,000. Listing agent: Tatiana Londono, Group Immobilier Londono Inc., 514-912-3019.
4971 Lavoie St., Pierrefonds
Pierrefonds
4971 Lavoie St., bungalow, 3 bedrooms, 2 bathrooms, finished basement, fenced yard, quiet neighbourhood. Built in 1955 on 5,917-square-foot lot. Taxes (municipal and school): $2,358. Valuation: $225,400. Asking price: $279,500. Sold for: $255,000. Listing agent: Franco Pompilio, Royal LePage Global, 514-898-4461.
6100 Deacon Rd., Outremont.
Outremont
6100 Deacon Rd., condo, 3 bedrooms, 2 bathrooms, corner unit in Sanctuaire du Mont-Royal, floor-to-ceiling sliding glass doors, large terrace, heated indoor parking. Built in 1986. Taxes (municipal and school): $8,516. Condo fees: $507 per month. Valuation: $889,900. Asking price: $1,049,000. Sold for: $1,030,000. Listing agent: Marcene Albinati, Royal LePage Tendance, 514-703-2876.
Submit a home sale
Brokers may send submissions to: realestate@montrealgazette.com. To be considered, the following information is required:
1o York St., unit 201, condo, 2 bedrooms, 1½ bathrooms, corner unit, high ceilings, open plan, balcony. Built in 2003. Taxes (municipal and school): $4,013. Condo fees: $287 per month. Valuation: $389,200. Asking price: $439,000. Sold for: $424,000. Listing agents: Marilyn and Adam Lally, Royal LePage Heritage, 514-836-7653.
17 Clearview Ave., Pointe-Claire.
Pointe-Claire
17 Clearview Ave., semi-detached bungalow, 3 bedrooms, 2 bathrooms, several updates, including basement makeover, propane insert in main-floor fireplace. Built in 1955 on 5,960-square-foot lot. Taxes (municipal and school): $2,967. Valuation: $266,300. Asking price: $340,000. Sold for: $340,000. Listing agent: Maryann Thurn, Re/Max Royal (Jordan) Inc., 514-952-7324.
2301-2303 Lise St., LaSalle.
LaSalle
2301-2303 Lise St., attached duplex, two 5-room units, well maintained, double garage, possibility of additional bachelor unit. Built in 1967 on 2,739-square-foot lot. Taxes (municipal and school): $4,561. Valuation: $472,200. Asking price: $539,000. Sold for: $514,900. Listing agents: Frank Carnuccio, Roberto Annecchini and Joseph Delli Quadri, Groupe Sutton-Clodem, 514-364-3315.
Submit a home sale
Brokers may send submissions to: realestate@montrealgazette.com. To be considered, the following information is required:
Former Montreal mayor Michael Applebaum, who was forced to resign in 2013 after his arrest on 14 criminal charges linked to real estate transactions while he was borough mayor of Côte-des-Neiges—Notre-Dame-de-Grâce, is working again — as a real estate agent.
Applebaum’s realtor sign is planted before a lower N.D.G. duplex on Mayfair Ave. near Fielding Ave. that is selling for $359,000 and features three bedrooms, wood floors and a spacious backyard. Applebaum’s name is on the sign, but not his photo.
His website page with Imagine Realties Inc. lists a total of two homes for sale. The other is a $419,000 three-bedroom family home located on the Ottawa River in Pointe-Fortune, about a 50-minute drive west of Montreal.
Reached on Monday, Applebaum confirmed he has renewed the real estate licence he first obtained to supplement his municipal councillor salary during the 1990s.
“OK, so listen, I’m doing real estate right now, that is my profession, that’s all I have to say,” he said. “I have the right to make a living, I’m working at real estate, absolutely. It’s nothing that I’m hiding. Simple as that.”
Applebaum refused to speak about the criminal charges against him.
Applebaum was elected interim mayor of Montreal in 2012 following the resignation of Gérald Tremblay and served for seven months, resigning on June 18. The day before his resignation he was arrested at his home by officers with the provincial anti-corruption squad UPAC and subsequently charged with fraud, breach of trust, conspiracy to commit municipal corruption and municipal corruption. Applebaum has maintained his innocence and said he plans to fight the charges.
A police affidavit requesting authorization for a search a warrant said they suspected Applebaum was implicated in a system of corruption involving as many as 10 real estate deals in Côte-des-Neiges—N.D.G. between 2002 and 2012, while he was mayor of the borough. The system allegedly involved the authorization of zoning changes and permits for various developers, in exchange for tens of thousands of dollars in bribes. Former city councillor Saulie Zajdel and Jean-Yves Bisson, who was head of the permits division for the borough, were also charged.
Last year Zajdel’s lawyer, Jeffrey Boro, said his client opted to go directly to trial in order to clear his name as soon as possible. Boro said coverage of Zajdel’s case had made him look guilty before his trial had begun and made it difficult for his client to move forward.
“Would you want to do business with him?” Boro asked. “It’s not a pretty situation.”
Applebaum’s preliminary hearing regarding his fraud and conspiracy charges is set to begin in June, two years after he was first charged.
Applebaum received a severance package of $268,000 less than a month after he resigned, reflecting his 18 years in civic office. His spokesman at the time of his charges said he would probably get half of it, after taxes and other deductions. Provincial law mandates severance packages be paid no matter the reason for leaving office. Applebaum, 52, will also be eligible for a municipal pension.
Imagine Realties co-founder and director Salvatore Sansalone said he knew Applebaum well from their years when they worked for the Royal Lepage real estate firm together and has been getting only positive comments about his work. Asked if he was concerned about negative repercussions given Applebaum’s highly publicized case, Sansalone said: “Has he been convicted? … He’s out there doing what he has to do. He’s trying to make it by. He has a right to live. He has a right to eat.”
The organization overseeing the activities of real estate and mortgage brokers in Quebec said Monday it can suspend or revoke the licences of agents who have been convicted of a crime, or found guilty of ethical breaches after complaints are made to their disciplinary committee. Neither of which applies to Applebaum, officials at the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) said. Brokers must renew their licences every year.
Jeremy Searle, a former colleague of Applebaum at the N.D.G. borough and presently councillor for the Loyola district where Applebaum is selling a home, said he hoped Applebaum would be found innocent and be able to return to real estate and politics, if he wishes.
“He’s always tried to do his best,” Searle said.
Applebaum told the Montreal Gazette in 2002 he became a real estate agent to supplement his $30,000 year salary as a city councillor during the 1990s. He stuck to residential real estate instead of commercial, he said, because he wanted to avoid the appearance of conflict of interest if there were zoning changes required for his properties. At the time, six of the 68 city and borough councillors on the ruling Montreal Island Citizens Union party were real estate agents, the most common second jobs for councillors after education. In 2002, Applebaum’s overall remuneration when extra pay for membership on committees and his expenses were factored in was $102,868.
Applebaum came under fire as borough mayor for working as a real-estate agent while serving as president of the borough’s closed door zoning committee from 2002 to 2009. He only gave up his real-estate licence and quit the Comité consultatif d’urbanisme (CCU) when he was named to the city’s top decision making branch, the executive committee, in 2009.
Reaction has been positive, Applebaum said on Monday.
“Everything is fine with me, there’s no problem,” he said. “I’m working with people, I’m doing very well — people are very nice to me and they are very happy to see me. … You can write your article if you like, but I have the right to make a living and that is what I’m doing.”
1994: Michael Applebaum is elected to council in the district of Notre-Dame-de-Grâce at age 31. He and Loyola councillor Jeremy Searle were the only two councillors elected from the short-lived Montrealers’ Party in the election that saw Pierre Bourque defeat outgoing mayor Jean Doré.
2001: Applebaum is elected as part of mayor Gérald Tremblay’s Union Montreal party. He is named as an associate councillor to the city’s Executive Committee. Applebaum was also named chairperson of the borough’s Comité consultatif en urbanisme, which makes recommendations to councillors about zoning changes.
2005: Applebaum is criticized in the election campaign by rival councillor Jeremy Searle for continuing to practice real estate while also serving as an associate councillor on the city’s Executive Committee.
2008: C.D.N.—N.D.G. borough councillor Francine Senécal criticizes Applebaum in the media for being both a real estate agent and the chairperson of the CCU, saying it gives the appearance of a conflict of interest.
2009: Applebaum is named by Tremblay as a full councillor on the executive committee. He quits as chairman of the CCU, and decides not to renew his realtors’ licence.
2011: Applebaum is named executive committee chairperson.
2012: Applebaum is voted as interim mayor by city council.
2013: Applebaum is arrested on corruption charges.
50-52 19th Ave., duplex, one 4½-room unit and one 5½-room unit, electric heating, potential gross annual rental income of $19,320. Year of construction not known. Lot size: 3,222 square feet. Taxes (municipal and school): $3,397. Valuation: $301,000. Asking price: $349,000. Sold for: $327,000. Listing agent: Daniel Morton, Royal LePage Global, 514-697-4460.
51 Desbarats St., Kirkland.
Kirkland
51 Desbarats St., bungalow, 3 bedrooms, 2½ bathrooms, double garage, backyard lined with mature hedges, forced-air system. Built in 1975 on 9,946-square-foot lot. Taxes (municipal and school): $4,919. Valuation: $459,900. Asking price: $375,000. Sold for: $300,000. Listing agent: Daniela Lamorte, Abbey & Olivier, 514-378-4240.
89 Celtic Drive, Beaconsfield.
Beaconsfield
89 Celtic Drive, cottage, 4 bedrooms, 3½ bathrooms, across from park, stone exterior, fully renovated, open-concept kitchen, luxury ensuite bathroom, professional landscaping, pool, two fireplaces. Built in 1968 on 9,188-square-foot lot. Taxes (municipal and school): $6,957. Valuation: $630,400. Asking price: $695,000. Sold for: $654,000. Listing agents: Paul Martinelli and Denis Comeau, M Immobilier, 514-545-2545.
Submit a home sale
Brokers may send submissions to: realestate@montrealgazette.com. To be considered, the following information is required:
256 Comber Ave., split-level, 3 bedrooms, 3½ bathrooms, beautifully renovated, large rooms, finished basement, central air, central vacuum. Built in 1969 on 6,660-square-foot lot. Taxes (municipal and school): $4,987. Valuation: $515,100. Asking price: $629,900. Sold for: $615,500. Listing agent: Catherine Alarcon, Abbey & Olivier, 514-247-6582.
6100 Deacon Rd., Côte-des-Neiges.
Côte-des-Neiges
6100 Deacon Rd., condo, 4 bedrooms, 2½ bathrooms, stylish condo in Le Sanctuaire, two separate entrances, private front balcony, large backyard patio garden, indoor parking. Built in 1986. Taxes (municipal and school): $10,013. Condo fees: $759 per month. Valuation: $1,021,900. Asking price: $1,178,000. Sold for: $1,139,000. Listing agent: Marcene Albinati, Royal LePage Tendance, 514-703-2876.
4559 de Monaco St., Pierrefonds-Roxboro.
Pierrefonds
4559 de Monaco St., two-storeys, 3 bedrooms, 2 bathrooms, wood floors, stunning kitchen with granite countertops and centre island, large master bedroom, finished basement wired for surround sound. Built in 1986 on 5,253-square-foot lot. Taxes (municipal and school): $3,859. Valuation: $387,000. Asking price: $439,000. Sold for: $418,000. Listing agent: Steve Weinman, office, 514-947-6962.
Submit a home sale
Brokers may send submissions to: realestate@montrealgazette.com. To be considered, the following information is required:
In the wake of selling a stone mansion fronting Lake Memphremagog for $13.25 million, real-estate agent Marie-Yvonne Paint said the luxury housing market in Quebec is strong.
“It was like a mini Versailles,” Paint said of the Magog home, where ceilings reached 25 feet. Its sale price is the highest recorded for a residential property in Quebec on the Multiple Listing Service. “It was outstanding, refined, elegant.”
Paint has been selling luxury homes since the late 1980s, she said. Ten or 12 years ago, residential sales in Quebec surpassed the $2-million and $3-million thresholds, she said, long after those prices were reached in Toronto. “Quebec was really behind in prices,” Paint said.
It is described as a "mini Versailles." It's the mansion that made headlines earlier this month when it sold, setting a new record for the highest price for a residential dwelling in Quebec. So, let's take a tour.
Exterior of mansion in Magog on the shores of Lake Mephremagog that sold in October 2015 for a record-setting $13.25 million. (Photo courtesy of Royal LePage.)
It has incredible views of Lake Mephremagog.
(Photo courtesy of Royal LePage.)
Elegant sitting areas with floor to ceiling windows. (Photo courtesy of Royal LePage.)
Living room.
(Photo courtesy of Royal LePage.)
Looking upward to the mezzanine.
(Photo courtesy of Royal LePage.)
View of the mezzanine. (Photo courtesy of Royal LePage.)
Elegant stairway is a bit of a show-stopper. (Photo courtesy of Royal LePage.)
The kitchen, one of several.
(Photo courtesy of Royal LePage.)
Interior shot. (Photo courtesy of Royal LePage.)
Fireplace. (Photo courtesy of Royal LePage.)
The interior pool , which is linked to the master bedroom upstairs via an elevator. (Photo courtesy of Royal LePage.)
T theatre room. (Photo courtesy of Royal LePage.)
Another sitting area. (Photo courtesy of Royal LePage.)
The front gates. (Photo courtesy of Royal LePage.)
The mansion sits on seven acres of property fronting the lake. (Photo courtesy of Royal LePage.)
A gazebo on the grounds. (Photo courtesy of Royal LePage.)
A dock extends into the lake. (Photo courtesy of Royal LePage.)
On the grounds. (Photo courtesy of Royal LePage.)
Another view of the exterior. (Photo courtesy of Royal LePage.)
The market has caught up steadily in the past 10 years, she said, with high-end homes concentrated in Westmount, Outremont, Tremblant and Magog in the Eastern Townships. Paint’s recently brokered sale is her first above the $10-million mark, she said. The property came on the market in 2013 at an asking price of $25 million.
“A luxurious house has luxurious finishings,” Paint said. “It’s is not a matter of price.”
Finishings, she said, may include marble bathrooms, heated floors, geothermal energy, integrated sound systems, very sophisticated wine cellars and home theatres.
“Everything is the latest technology,” Paint said. “That’s what I call luxurious.”
Luxury home buyers are mostly business people, Paint said, and she sees a lot of buyers with Internet-based businesses. Wealthy Chinese families, Paint added, are also buying luxury homes, although that demographic doesn’t represent a large percentage of sales.
Like the undisclosed buyer of the property in Magog, Paint said, most luxury home buyers are locals. “Nobody from abroad is going to buy a house (here) for $13 million,” Paint said, “Unless they are working here or have their business here.”
Other than high-end finishings, people seeking luxury homes, she said, seek certain locations, and homes with garages.
Before showing multi-million-dollar properties, interested parties are screened, Paint said. “We ask for references, like bank references. We don’t want to waste anybody’s time.”
Alain Bédard, CEO of transportation company TransForce, is the seller of the Magog home.
Geneviève Laurier, a spokesperson for Revenue Quebec, confirmed the tax agency’s issued a notice of a hypothec against Bédard’s Magog home in 2013 for a total of about $17.59 million. Hypothecs can be issued in cases of nonpayment of taxes.
According to Rick Leckner, a communications specialist hired by Bédard, Bédard still owes less than $3 million to Revenue Quebec. TransForce has more than 20,000 employees, with companies including parcel delivery services Canpar and Loomis, Leckner said, and it has grown through acquisitions in the U.S. Leckner also said Bédard was born in 1953 in St-Hyacinthe and now lives in Florida.
“It looks like a new construction, but it was a huge extension of an existing building,” Paint said of Bédard’s former home on the east side of Lake Memphremagog, which was finished in about 2012.
Leckner said construction took about three years, and the project was done with Bédard’s wife.
Materials used in the home include parquet floors and fireplace mantles imported from France and three-paned windows from Germany, Paint said. The entryway is marble with a palatial staircase, the exterior was natural stone, and it has geothermal energy.
An elevator links the master bedroom dressing room and an indoor pool, Paint said, and the home has three kitchens, including one for caterers, and one in the pool area.
Other buildings on the seven-acre property include a coach house, a guest house and another house for the property’s caretakers, a married couple.
“I guess they are going to stay, because the (new) client needs somebody to take care of the property,” Paint said of the caretakers.
The Magog property was on the market for about 18 months, and was advertised in the New York Times and Wall Street Journal.
The sale of 551 Verchères Street, Paint said, will be notarized in 2016. It’s normal to take between about two and six months for notarization, she added.
“When we go to the closings, when we go to the notary, people treat me very well, because they are happy,” Paint said, adding her rewards for closing sales like this are happy clients, which leads to new clients. Paint was unwilling to disclose her earnings from the sale, saying it would be indecent. “But you, know, it’s very easy to guess.”
“The welcome tax for this house will be close to $200,000,” Paint said of the one-time municipal tax. Annual municipal taxes for the property are an estimated $90,000.
Paul Cardinal, the manager of market analysis at the Quebec Federation of Real Estate Boards, said the first time a Quebec residential property sold for more than $2 million was in 2000, in Montreal. The first time one sold for more than $5 million was in 2007. Since 2012, 10 properties have sold for more than $5 million, he said.
The highest residential sale in Quebec next to the recent $13.25-million deal, Cardinal said, was $10.2 million for a home in Senneville in 2014, and after that, for another property in Senneville earlier this year, for $6.76 million.
Dominic St-Pierre, director for the Quebec region at Royal Lepage, said in 2006, 183 Quebec residences sold through Multiple Listing Service cost $1 million or more. So far in 2015, 519 residential properties in Quebec cost $1 million or more. Of those, he said, 380 were in Montreal.
People who buy luxury homes in the countryside and in Outremont tend to stay, Paint said, while people who buy downtown and, to some degree, Westmount, tend to move.
“Maybe the old generation is staying, but the new generation has a tendency to move more often,” Paint said, even within the same city. Events like divorce, promotions or more children prompt moves, Paint said.
146 Argyle, cottage, 4 bedrooms, 2½ bathrooms, family room opens to kitchen, large master bedroom, finished basement, large landscaped backyard with in-ground pool. Built in 1995 on 9,594-square-foot lot. Taxes (municipal and school): $7,141. Valuation: $678,000. Asking price: $799,000. Sold for: $776,000. Listing agent: Tatiana Londono, Groupe Immobilier Londono, 514-937-1717.
1010 Kless St., LaSalle.
LaSalle
1010 Kless St., cottage, 3 bedrooms, 2½ bathrooms, grand wooden staircase, wooden kitchen cabinets detailed with Swarovski crystal, granite countertops, master bedroom has large walk-in closet and electric fireplace, landscaped backyard with in-ground pool, finished basement. Built in 1976 on 6,105-square-foot lot. Taxes (municipal and school): $6,704. Valuation: $645,000. Asking price: $998,900. Sold for: $995,000. Listing agents: Frank Carnuccio, Robert Annecchini and Joseph Delli Quadri, Groupe Sutton-Cloden, 514-364-3315.
497 Hermitage Ave., Pointe-Claire.
Pointe-Claire
497 Hermitage Ave., semi-detached cottage, 3 bedrooms, 1½ bathrooms, new bathroom, new windows, new doors, fenced backyard, large playroom with wood stove. Built in 1981 on 2,290-square-foot lot. Taxes (municipal and school): $2,708. Valuation: $248,000. Asking price: $279,000. Sold for: $279,000. Listing agent: Debra Middleton, Royal LePage Elite, 514-697-9181.
Submit a home sale
Brokers may send submissions to: realestate@montrealgazette.com. To be considered, the following information is required:
Price gains for residential real estate are likely to slow this year across Canada as economic turmoil abroad and low oil prices at home give some buyers pause, according to brokerage Royal LePage.
The average Canadian home price probably will rise 4.1 percent in 2016, Royal LePage, the country’s largest real estate firm, said in a report released Wednesday. That’s down from a 6.5 percent growth pace last year, and would be the smallest increase since 2012, according to the firm.
Canada is being buffeted by the continued low price of oil and the deceleration of the economy in China, Canada’s second- largest trading partner, according to Royal LePage. Mortgage rule changes probably will have little impact on people’s ability to buy because the cost of borrowing is so low and demand for housing remains high in Vancouver and Toronto, the country’s two priciest real estate markets, the brokerage said.
“It doesn’t have as positive a feel as the start of 2015,” Phil Soper, chief executive officer of the brokerage, a unit of Brookfield Real Estate Services Inc., said in an interview. “When we started 2015, we were dealing with the oil shock, but most of us believed it was a short-term hiccup in global commodity markets and not a long-term trend. The challenges the Chinese economy has faced and the other geopolitical problems around the world all point to a more somber mood for Canada.”
The largest increase in home prices is likely to be in Vancouver, with a 9 percent jump forecast for 2016, followed by Toronto, at 5.5 percent, Royal LePage said. Price gains in all other major cities will probably be no more than 2.5 percent, with a decline of 3 percent forecast in Calgary and a 2 percent drop expected in Edmonton, according to the firm.
100 56th Ave., two storeys, 3 bedrooms, 2½ bathrooms, kitchen has been redone, wood floors, fireplace, two terraces — one on main floor and one on second floor, all original doors and handles. Built in 1920 on 4,000-square-foot lot. Taxes (municipal and school): not available. Valuation: not available. Asking price: $749,000. Revised price: $679,000. Sold for: $560,000. Listing agents: Frank Carnuccio, Joseph Delli Quadri and Roberto Annecchini, Groupe Sutton-Clodem, 514-364-3315.
11 Drayton Ave., Pointe-Claire.
Pointe-Claire
11 Drayton Ave., cottage, 3 bedrooms, 1½ bathrooms, solarium off the dining room, fireplace, original wood floors, terrace off master bedroom, finished basement, many stainless steel appliances included. Built in 1947 on 9,100-square-foot lot. Taxes (municipal and school): $5,477. Valuation: $510,200. Asking price: $625,000. Sold for: $580,000. Listing agent: Tania Bettinelli, Re/Max Royal (Jordan), 514-694-6900.
409 Dublin Rd., Beaconsfield.
Beaconsfield
409 Dublin Rd., split-level, 3 bedrooms, 2½ bathrooms, gas fireplace, finished basement with office, new windows, deck, Unistone patio. Built in 1970 on 7,814-square-foot lot. Taxes (municipal and school): $4,245. Valuation: $383,400. Asking price: $399,900. Sold for: $393,000. Listing agent: Daniel Morton, Royal LePage Global, 514-697-4460.
Submit a home sale
Brokers may send submissions to: realestate@montrealgazette.com. To be considered, the following information is required:
612 Main Rd., Canadiana, 4 bedrooms, 2½ bathrooms, views of Lake of Two Mountains, water access, three fireplaces, period woodwork, large dining room, many windows. Built in 1892 on 48,025-square-foot lot. Taxes (municipal and school): $8,566. Valuation: $728,400. Asking price: $799,000. Sold for: $600,000. Listing agents: Alain Mignot, Compas Immobilier, and Helen Henshaw, Royal LePage Village, 514-703-8981.
599 Wellington St., Montreal.
Ville-Marie
599 Wellington St., condo, 1 bedroom, 1 bathroom, in historic Hudson Bay Company building, corner unit, large windows, exposed brick walls, wood columns and beams, high ceilings, access to rooftop terrace, one parking spot. Building converted into condos in 1999. Taxes (municipal and school): $6,852. Condo fees: $265 per month. Valuation: $705,000. Asking price: $749,000. Sold for: $738,000. Listing agent: Monique Assouline, Engel & Volkers, 514-219-5897.
93 Rockwyn Ave., Pointe-Claire.
Pointe-Claire
93 Rockwyn Ave., two-storey, 4 bedrooms, 1½ bathrooms, stone fireplace in living room, bright kitchen, hardwood floors, large playroom in basement. Built in 1966 on 6,304-square-foot lot. Taxes (municipal and school): $3,975. Valuation: $365,800. Asking price: $369,000. Sold for: $359,000. Listing agent: Susan Heseltine, Re/Max Royal (Jordan), 514-805-3422.
Submit a home sale
Brokers may send submissions to: realestate@montrealgazette.com. To be considered, the following information is required:
403 Lakeshore Rd., two storeys, 4 bedrooms, 4½ bathrooms, custom-built, water views, unique design, high ceilings, private, gas fireplace, heated floors, garage, fully landscaped, in-ground pool. Built in 2012 on 26,543-square-foot lot. Taxes (municipal and school): $15,411. Valuation: $1,447,500. Asking price: $1,948,000. Sold for: $1,915,000. Listing agent: G. Shepherd Abbey, Abbey & Olivier, 514-694-7866.
3190 Chèvremont Blvd., Île-Bizard.
Île-Bizard
3190 Chèvremont Blvd., split-level, 2 bedrooms, 2 bathrooms, open-concept, updated kitchen, finished basement, fireplace. Built in 1984 on 6,559-square-foot lot. Taxes (municipal and school): $3,256. Valuation: $317,600. Asking price: $339,500. Sold for: $330,000. Listing agent: Keith Gold, Royal LePage Village, 514-830-2638.
779 14th Ave., Lachine.
Lachine
779 14th Ave., bungalow, 2 bedrooms, 1 bathroom, front and back extensions, large kitchen, basement less than 6 feet, garage. Built in 1936 on 5,300-square-foot lot. Taxes (municipal and school): $2,485. Valuation: $236,000. Asking price: $229,000. Sold for: $203,000. Listing agent: Sabina Gabriel, Royal LePage Village, 514-726-2686.
Submit a home sale
Brokers may send submissions to: realestate@montrealgazette.com. To be considered, the following information is required:
104 St. Andrew’s St., split-level, 3 bedrooms, 2 bathrooms, on quiet cul-de-sac, large kitchen, fireplace, no neighbours behind, park across the street. Built in 1984 on 14,995-square-foot lot. Taxes (municipal and school): $3,277. Valuation: $409,000. Asking price: $378,500. Sold for: $344,524. Listing agents: G. Shepherd and Caprice Abbey, Abbey & Olivier, 514-694-7866.
230 Bruton St., Beaconsfield.
Beaconsfield
230 Bruton St., bungalow, 3 bedrooms, 2 bathrooms, cathedral ceiling in living room, large windows, fireplace, large deck. Built in 1963 on 10,256-square-foot lot. Taxes (municipal and school): $4,348. Valuation: $398,000. Asking price: $478,800. Sold for: $448,000. Listing agent: Sabina Gabriel, Royal LePage Village, 514-726-2686.
12 McKinley St., Dollard-des-Ormeaux.
Dollard-des-Ormeaux
12 McKinley St., cottage, 4 bedrooms, 1½ bathrooms, hardwood floors, crown mouldings, large garage, screened veranda, finished basement. Built in 1968 on 5,403-square-foot lot. Taxes (municipal and school): $4,161. Valuation: $2339,200. Asking price: $440,000. Sold for: $423,000. Listing agents: Mary Thibault and Helen Tsakalos, Re/Max Royal (Jordan), 514-824-2163.
Submit a home sale
Brokers may send submissions to: realestate@montrealgazette.com. To be considered, the following information is required:
150 Sherbrooke St. East, condo, 1 bedroom, 1 bathroom, third-floor unit, balcony, indoor parking, gym in building, close to métro. Built in 2008. Taxes (municipal and school): $3,567. Condo fees: $207 per month. Valuation: $373,800. Asking price: $389,900. Sold for: $381,000. Listing agents: Philippe and Mathieu Jussaume, Abbey & Olivier, 514-815-5166.
180 Donnacona St., Dollard-des-Ormeaux.
Dollard
180 Donnacona St., condo, 2 bedrooms, 2 bathrooms, second-floor unit, mezzanine, gas fireplace, wood floors. Built in 2000. Taxes (municipal and school): $4,371. Condo fees: $200 per month. Valuation: $307,600. Asking price: $395,000. Sold for: $385,000. Listing agent: Sabina Gabriel, Royal LePage Village, 514-726-2686.
13 Papillon Ave., Pointe-Claire.
Pointe-Claire
13 Papillon Ave., semi-detached, 3 bedrooms, 2½ bathrooms, renovated, finished basement, garage, fenced yard. Built in 1983 on 3,239-square-foot lot. Taxes (municipal and school): n/a. Valuation: $298,000. Asking price: $359,900. Sold for: $347,000. Listing agents: Mary Thibault and Helen Tsakalos, Re/Max Royal (Jordan), 514-824-2163.
Submit a home sale
Brokers may send submissions to: realestate@montrealgazette.com. To be considered, the following information is required:
526 Roland-Durand Blvd., cottage, 4 bedrooms, 2½ bathrooms, wood floors, gas fireplace, heated floors in bathrooms, 3-season veranda. Built in 2004 on 11,828-square-foot lot. Taxes (municipal and school): $4,820. Valuation: $524,100. Asking price: $589,000. Sold for: $467,000. Listing agent: Dina Tuvo, Re/Max 2000, 450-682-2000.
Beaconsfield
300 Pintree Crescent, cottage, 4 bedrooms, 3½ bathrooms, renovated kitchen and bathrooms, two fireplaces, in immaculate condition. Built in 1955. Taxes (municipal and school): $8,975. Valuation: $857,000. Asking price: $1,049,000. Sold for: $1,073,800, $24,800 over asking price. Listing agent: Don Field, Deakin Realty, 514-695-2575.
Pointe-Claire
31 Sunnyview Ave., bungalow, 3 bedrooms, 2 bathrooms, hardwood floors, crown mouldings, garage, fenced backyard, large deck. Built in 1954 on 9,139-square-foot lot. Taxes (municipal and school): $3,983. Valuation: $344,200. Asking price: $309,000. Sold for: $305,000. Listing agents: Jennifer Smith and Daniel Arsenault, Royal LePage Village, 514-694-2121.
Submit a home sale
Brokers may send submissions to: realestate@montrealgazette.com. To be considered, the following information is required:
2011 du Patrimoine St., bungalow, 3 bedrooms, 3 bathrooms, landscaped lot, uni-stone terrace, central air conditioning, gas fireplace. Built in 2004 on 18,747-square-foot lot. Taxes (municipal and school): $4,596. Valuation: $479,500. Asking price: $519,000. Sold for: $480,000. Listing agents: Philippe and Mathieu Jussaume, Abbey & Olivier, 514-815-5166.
Dorval
1960 Carson Ave., bungalow, 3 bedrooms, 1½ bathrooms, hardwood floors, two fireplaces, family room in basement. Built in 1953 on 6,719-square-foot lot. Taxes (municipal and school): $3,154. Valuation: $324,900. Asking price: $324,000. Sold for: $317,500. Listing agents: Jennifer Smith and Daniel Arsenault, Royal LePage Village, 514-694-2121.
Pointe-Claire
10 Hornell Ave., cottage, 5 bedrooms, 2 bathrooms, hardwood floors, renovated bathrooms and kitchen, very large lot. Built in 1949 on 20,940-square-foot lot. Taxes (municipal and school): $4,354. Valuation: $397,600. Asking price: $439,000. Sold for: $415,000. Listing agents: G. Shepherd Abbey and Caprice Abbey, Abbey & Olivier, 514-694-7866.
Submit a home sale
Brokers may send submissions to: realestate@montrealgazette.com. To be considered, the following information is required:
1132 des Géraniums Ave., two-storey, 3 bedrooms, 2½ bathrooms, on quiet street, lots of natural light, winding staircase, cathedral ceilings, fully furnished home office, additional bedroom in basement. Built in 2001 on 7,382-square-foot lot. Taxes (municipal and school): $7,432. Valuation: $682,500. Asking price: $734,000. Sold for: $725,000. Listing agent: Eleni Akrivos, North East Realties, 514-680-4674.
5284-5286 Montclair Ave., Notre-Dame-de-Grâce.
Côte-des-Neiges
5284-5286 Montclair Ave., semi-detached duplex, one 3-bedroom unit and one 4-bedroom unit, hardwood floors, two parking spots, side yard, potential gross annual rental revenue of $25,800. Built in 1951 on 2,754-square-foot lot. Taxes (municipal and school): $2,973. Valuation: $293,700. Asking price: $435,000. Sold for: $399,000. Listing agents: Daniel Arsenault and Jennifer A. Smith, Royal LePage Village, 514-823-2272.
35 de la Pointe-Claire Ave., Pointe-Claire.
Pointe-Claire
35 Pointe-Claire Ave., two-storey, 3 bedrooms, 2½ bathrooms, hardwood floors, master bedroom with ensuite, electric forced air furnace and heat pump, semi-finished basement. Built in 2016 on 4,598-square-foot lot. Taxes (municipal and school): not available. Valuation: not available. Asking price: $499,000. Sold for: $500,108, $1,108 over asking. Listing agents: Eric Taranowski and Charlene Grabowski, Keller Williams Prestige, 514-426-0047.
Submit a home sale
Brokers may send submissions to: realestate@montrealgazette.com. To be considered, the following information is required:
Curb appeal plays a big part in selling a house. But marketing homes that fall into the niche market that is equestrian properties involves so much more. Attracting buyers to these listings – which often surpass the $1-million mark – often includes showcasing the number of box stalls as well as bathrooms and bedrooms.
And nowhere in the Montreal area is the market for equestrian properties more active than the booming little town of St-Lazare, west of Montreal.
Aerial view of the property at 4115 Ste-Angélique Rd., St-Lazare. The 74-acre estate is for sale with an asking price of $3.4 million. (Photo courtesy Royal LePage Village)
The town of about 19,700 residents west of Vaudreuil-Dorion has a robust equestrian reputation, with kilometres of wooded riding trails that add to the appeal of these properties. The town does its part to promote the equine culture as well, hosting an annual Au Galop horse festival and, as its website claims, riders and their horses have the right to circulate on roads. The Club Équestre les Forestiers, which offers extensive riding trails, is centred around La Pinière, a conservation area in the municipality that is part of Parc nature les Forestiers-de-St-Lazare, a popular spot for riders.
Helen Henshaw is a real estate broker with Royal LePage who has several equestrian properties listed, including a $3.4 million 74-acre estate on Ste-Angélique Road in the Green Maple Hill neighbourhood of St-Lazare. This property has four ponds, is zoned agricultural-equestrian, has a barn with seven stalls and two tack rooms, paddocks, a country-chic style designed main house, an indoor pool, a tennis court, a two-bedroom guesthouse which is a converted barn, a caretaker’s house and a five-car garage that has a loft/office on the second floor.
Former barn converted into a garage and office space on second floor. (Photo courtesy Royal LePage Village)
“You’ll have a range of buyers, all discerning,” Henshaw said. “The ones with lower budgets will tend to focus on the horse facilities and grounds more than the home, although it’s always a bonus to have a nice home.
“For the higher-end properties, the buyers tend to want all the bells and whistles,” she said of equestrian listings.
Interior view of the second-floor office space above the garage on horse farm for sale in St-Lazare. (Photo courtesy Royal LePage Village)
“In general, it’s important that the land has good footing, good drainage, good fencing, good barn, enough paddock room for the horses, good turn-out shelters, and either an arena or the space to build one for indoor riding in winter and inclement weather. It’s also great to be connected to a good trail network, like there is here in St-Lazare, run by the Club Équestre,” she added.
Henshaw takes special measures to market equestrian properties both locally and internationally, such as listing the resales in horse magazines and on www.horseclicks.com and www.horseproperties.net.
“You just never know where your buyer is going to come from. They could come from the neighbourhood, Montreal or China or Germany,” she said.
Driveway leading to 4115 Ste-Angélique Rd., St-Lazare. (Photo courtesy Royal LePage Village)
Normand Roy is a real-estate broker with Exit Performa who is well versed when it comes to listing equestrian properties in the region, including a bungalow-style home with an in-law suite on a 82,500-square-foot hobby farm on Du Métayer St. in St-Lazare. It has an asking price of $549,900. The listing notes that the property benefits by having direct access to an extensive network of equestrian trails.
The barn at hobby farm on Du Métayer St. in St-Lazare. (Photo courtesy Normand Roy, Exit Performa)
“St-Lazare is where people are really looking for equestrian properties, so we have variable places that we can find,” Roy said.
Marketing these properties through horse-themed websites, such as Fédération équestre du Québec (feq.webnow.cc), is standard, while relying on open houses is not the right strategy, Roy said, adding private showings are offered to would-be buyers.
The house on 82,500-square-foot hobby farm on Du Métayer St. in St-Lazare. (Photo courtesy Normand Roy, Exit Performa)
“Equestrian properties are slower (to move) than (typical) residential properties, because not everyone is looking for equestrian. It’s just normal,” he said. “It depends on the price range, obviously. Equestrian properties can go as low as $400,000 and also be over $1 million.”
Higher priced equestrian properties could take up to three years to sell, Roy noted.
“I’ve even seen (equestrian) homes on the market seven or eight years,” he added.
Roy said about 35 per cent of the local equestrian real-estate market is driven by St-Lazare area homeowners who are tired of paying costly boarding fees for their horses.
“Instead of having a place you rent, they want a place with a barn,” he said of horse enthusiasts.
“If you have one horse, you’ll pay $400 a month. If you have three horses, it starts to add up. You’re talking about $1,200 a month,” he said of boarding fees. “At a certain point, you might as well have your own (stables).
“Having access to (riding) trails is definitely a big deal,” he added.
In St-Lazare, about 10 per cent of the active real-estate market consists of equestrian/agriculture properties, Roy estimated.
“So there’s about 20 farmettes at the most (for sale at any given time),” he added.
An equestrian property should have a minimum of 80,000 square feet in St-Lazare, Roy noted.
