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Prices for acreage homes are appreciating faster than urban properties.
In my recent travels I have been more than a little surprised at how much rural acreage homes outside of Thunder Bay are going for these days. During covid, there was definitely an understandable surge in the demand for having a lot less neighbors. Has that desire boomeranged back in 2026? What the heck? So…
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Update on Thunder Bay Home Prices
Warm weather has finally arrived, and Thunder Bay’s late spring real estate market is in full swing. With May sales now in the books, let’s check in what this year’s price trends tell us about the local housing market. Thunder Bay real estate follows a predictable seasonal pattern. Median prices peak in spring and summer…
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Small Town Realtors Matter
Small Town Realtors Matter: Why Local Expertise Adds Value in Northwest Ontario In the real estate landscape of Northwest Ontario, the market varies significantly from one small town to the next. One of the biggest factors in that variation is the presence—or absence—of a dedicated local realtor. They don’t just serve individual customers, they serve…
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Appraisal Time Bombs
Homeowners get appraisals done all the time and, kind of like the guests in the Antiques Road Show, there is a certain fun and excitement about finding out what a professional appraiser thinks your property is worth. And when it comes to the number . . . shouldn’t you want the highest number possible to…
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Whats Up, Thunder Bay?
Home Prices! As the season for home sales is winding down for the year it’s not a bad time to review what happened in Thunder Bay housing markets. And I’m still surprised. Based on Thunder Bay realtor sales statistics, the median home price (more about that “median” later) jumped from about $340k in 2023-24 to…
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How to prepare for my appraisal visit?
It’s common that people have some anxiety about an appraiser visiting to view their home. And I get that, who enjoys being judged? Sometimes people are nervous about this and I try to set them at ease. First of all, it’s not about the housekeeping. Most appraisers have developed a mental filter about your stuff,…
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Thoughts about Current Market Values in the Region
2025 has brought surprisingly strong demand for homes across the market, with both lower end and higher end homes seeing a significant year over year increase, in the order of 10% above 2024 prices. Leaving aside the rural areas for a moment the range of prices we are seeing for single family homes in the…
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Is the appraisal value the same as market value?
I get this question sometimes in speaking with property owners at the door, as some people doubt that the appraised value is meant to be the same as the full market value for the property. The full and proper answer to this question is “… it depends” but the short answer is “yes”. The Appraisal…
Property Appraisal in Thunder Bay & Northwest Ontario