Homes in Creemore and the surrounding hills are in high demand, and with inventory at an all-time low, buyers must be patient
by Janet Lees
Once known mainly for its beer, the picturesque village of Creemore has morphed into a thriving arts and culture-centred community replete with artists, galleries, festivals, concerts, events … and lovely homes and properties that are highly in demand in today’s hot real estate market.
Located slightly off the beaten path, Creemore is our area’s Brigadoon – an idyllic place unaffected by time that is just a wee bit magical. And like the mythical Brigadoon, which only appeared every 100 years, you might have to wait that long to get in on Creemore’s booming real estate market if you’re not prepared (see sidebar).
The village’s charm and character, proximity to the city, and the fact that it is not divided by a highway, are huge selling points, says Basia Regan of Royal LePage RCR Realty in downtown Creemore. “It’s in a very desirable location – 90 minutes north of the GTA, 30 minutes west of Barrie and 15 minutes south of Collingwood/Georgian Bay,” says Regan.
Austin Boake of Re/Max Creemore Hills Realty says the Creemore market, which extends beyond the village itself to the surrounding areas including Mulmur to the south, is also desirable because of its natural amenities. “The landscape has some of the best vistas, water features, trails, forest, plus hundreds of acres of public parkland in our backyard,” he notes.
Who Lives Here?
Creemore was first settled in 1842, founded in 1845 and in 1849 the Corporation of the Village of Creemore was created. The name, taken from the Irish Cro Mor, means “big heart” and today Creemore is often referred to as “the village with a big heart.”
The village houses approximately 1,300 residents plus several hundred properties in the surrounding hills. “People currently living in Creemore are longstanding residents who enjoy the quiet, friendly atmosphere of the village, young families who want a well-rounded lifestyle that includes proximity to workplace, good schools and amenities, and retirees who have moved from their farm to the village,” explains Regan. “In the hills around the village are farmers, weekenders from the GTA and retirees who have moved from the GTA.”
Those who live here are interested in nature and agriculture and are looking for a relaxed, down-to-earth lifestyle, says Boake. “It’s not necessarily a ski/golf crowd, and not all Baby Boomers, but definitely a crowd of enthusiastic outdoors people. Families wanting a small community to raise children want to be in this area because they do not have to fight the 400 weekend traffic. They can work from home with high-speed internet and can easily make the trip to Toronto for necessary meetings and appointments. Friends and family can come for a visit and leave without having to stay overnight.” And the commute to Toronto airport is just over an hour.
What’s the Attraction?
Described as “one of the prettiest towns in Ontario” by Harrowsmith Magazine and the “Hamptons of the north” by the Globe and Mail, Creemore’s proximity to golf, hiking, beaches, skiing and other four-season recreational activities add to its allure. “Once people discover the natural beauty throughout the area – including the UNESCO designated World Biosphere Reserve, the Bruce Trail, the Mad and Noisy rivers, etc. – they want to find a permanent way to enjoy it,” says Regan, adding, “Those looking for a change of pace are also drawn to the area.”
Today’s buyers run the gamut from professionals and young families to retirees and semi-retirees. “Creemore is in the fortunate position of being a piece of paradise for those desiring a quiet country life, those wanting a place to call home that is a mere walk or short drive to work, school, place of worship, medical facility, year-round recreational activities, shops or big box stores, as well as those who want their commute to and from the GTA to be hassle free and less than two hours,” says Regan.
Creemore is highly walkable, with large lots, lots of trees “and few fences,” says Boake. “You see your neighbours on the main street, and just like the song, everybody knows your name. There’s no getting lost in the crowd.”
And with hundreds of acres of surrounding agricultural and conservation land protected by the National Escarpment Commission, the area is unlikely to see any large-scale development, maintaining its small-town, community feel.
“People don’t move,” notes Boake, which gives the area “a Muskoka type of attitude – long-standing family farms and weekend get-a-ways where generations of families take over, also adding to the low inventory and increasing the demand.”
What is Selling in Creemore?
In short, everything, and very little. In other words, everything that goes up for sale is selling fast, because not much goes up for sale. Creemore and the surrounding hills have always been in high demand, and in today’s seller’s market that is even more true.
“Like everywhere in Southern Georgian Bay, we have low inventory, but we are used to low inventory,” says Boake. “It takes a longer period of time to get what you are looking for in Creemore and area. The high end got higher and hotter, with plenty of sales cleaning out a lot of older stock. Vacant land is also in high demand, with a lot of buyers wanting a custom built home. Almost every vacant lot in the village is now sold, and new home developments are not going to happen in the very near future.”
With prices still in the reasonable range compared to Toronto, the best advice for those interested in purchasing a home in Creemore is: be patient … and hire a realtor who knows the local market.
“MLS cannot educate the public about local issues such as septic systems, wells, wind turbines, landfill sites and quarries, not to mention the NEC and the NVCA and the impact on property value, both good and/or bad,” notes Boake, adding that even in today’s hot market, sellers also benefit from using an experienced local realtor. “Even after 30 years in building/design and real estate sales, the Creemore market area can be challenging to value property due to the eclectic nature of the product.” ❧
Buyer Tips
Dos and don’ts for buying when inventory is low
Buying a home in a seller’s market, in which inventory is low and demand is high, can be frustrating. Most of Southern Georgian Bay falls into the low-inventory category, particularly Creemore and Thornbury.
Here are a few tips to ensure success as a buyer in a seller’s market.
Do Check Listings Daily – In a hot market where there are few homes available for sale, it’s a must to stay on top of the new listings coming on the market every day. Otherwise you run the risk of a house being sold before you even get a chance to see it. It also helps to have a crackerjack realtor who is “in the know” and can alert you about new listings immediately as, or even before, they come on the market.
Don’t Wait – A hot market doesn’t allow you the luxury of time to mull over whether or not to make an offer on a home. If you think about it overnight, chances are it will be too late. Time is of the essence, so if you are interested in a particular property, write up the offer without delay and use your conditional time for extra visits, contractor quotes, building inspections, etc. Waiting only gives other buyers the opportunity to get in on the action, resulting in a multiple offer situation.
Don’t Expect a Bargain – This is not the time to look for a bargain property. With few houses on the market in relation to the number of buyers looking for a home – including buyers for whom price is no object – you must be prepared to compete on price or you may risk losing out on your dream home. When you are competing against another buyer or buyers, be prepared to pay full price or even over asking price.
Do Put Your Best Price Forward – The usual back-and-forth negotiations on price don’t apply in a hot market, so make your initial offer a good one. You may not get another chance, so lowballing the initial offer could leave you out of the running. Especially in a multiple offer situation, if you’re not in the top two or three from the start, you’ll lose out.
Do Make a Healthy Deposit – Show the seller you mean business by putting down a good-sized deposit as a sign of good faith that you are serious about buying this house and won’t walk away from the deal. If a seller is dealing with several offers at once, a strong deposit can make a difference.
Don’t Ask For Extras – Forget about asking for extras as part of the deal. The days of getting freebies thrown in are over! Make your offer clean, and if there is something in the house that you are interested in purchasing, negotiate that separately after your offer has been accepted.
Do Delay Possession – This is a little-known trick that can give your offer an advantage over another. If you don’t need to take possession on the day of closing, offer to close on the property, but give the seller a few extra days to move out. It reduces stress and gives the seller some breathing room to vacate the property.
Do Get Pre-approved – Many buyers will require financing as a condition of sale, so not having a financing condition could put you in an advantageous position compared to other buyers. Showing the seller that you have been pre-approved for a mortgage gives a sense of security that the deal is solid. When you are competing with others, it can help give you an upper hand.
Buying a home in a hot market such as Creemore, where demand is high and inventory is low, doesn’t have to be frustrating and disheartening. With a little knowledge and advance preparation, you can come out a winner in today’s real estate game.
