NW Ontario Land

[shadow]

I have been looking for quite some time for a few acres on water within 150 miles of the Minnesota border.  I continually look at realtor pages as well as this site without any success. 

Does anyone know where I can find anything?  I don't want to make money but rather find a place to come and relax and enjoy the canadian wilderness.  It seems hard to find anything because a lot of the places up north of Fort Frances are not organized or the government has them leased and therefore I can not find where they are available.  I would appreciate any advice.

[Pfm1011]

There is of course MLS.ca but additionally I find icx.ca helpful for land but of course remember you are dealing with realtors so expect the asking prices to be stupid as usual. How much acreage are you looking for??

[Sasha]

Hi,

I live north of Dryden and Kenora and south of Red Lake in northwestern Ontario.  I'm originally from Toronto.  Lots of local realtors in the area, one that I've dealt with is http://austinrealty.on.ca/realty/  (Austin and Austin Realty).  Theres also Latitude 50 that has many resort/camps as well as cabins, and Sunset Realty.  Many of these local realtors do not list on MLS.  Theres a website that lists all realtors in northwestern Ontario  and www.norealtyfee.com which lists all private sales.  Many of these properties are sold for well below asking price.  For homes, you may use MPAC CVA as a guide, however, undeveloped properties (many of which are lakefront) may have a CVA of $1, though you won't get for $1.  If you're looking near the U.S border, then thats probably Rainy River district, I'm a little farther north and the prices for properties are a little higher due to increased mining activity and towns such as Red Lake growing rapidly.   Proximity to a reserve also affects land value and actually if you buy property that abuts crown land, you'll have privacy.
The realtors that I listed are all in the Dryden area, if you're looking south of there then try www.norealtyfee.com and google northwestern ontario realtors, you'll get a few hits.
A few years ago, places near the U.S border were on a 'false high', many U.S citizens buying and driving prices up (when our dollar was worth less) and paying more than it was worth, now, with our dollar near par with U.S, the prices have started to correct themselves.  You may find some private sales listed in U.S dollars still.
Hope this helps.

Sasha

[Sasha]

The local economy also has an effect on sales.  Almost all the properties recently sold in Dryden are being sold below the MPAC CVA, the opposite of large cities like Toronto where homes sell for above the CVA.  Rainy River and Fort Francis properties are very inexpensive.  Needless to say, since homes in this area actually go down in value (with age), most people don't put much work into their homes.  Lakefront probably holds its value a little better.  Do a lot of 'comparison shopping' and there are only a few towns that are 'growing' and homes may sell for more than CVA in those towns.  Study the economy of the towns and past sales, most of the real estate web sites (local) are pretty good.  Find out how long the property has been listed.  These areas aren't very active real estate markets and sometimes properties are listed for a few years before they sell (fair market value decreases then and may be less than CVA).  What city are you looking in?  What price range?  I know a few real estate agents in the area.

[shadow]

I am looking for a small piece of land, maybe only a few acres if it is remote but accessible.  I hope to find something within 100 miles of Fort Frances that I can use numerous times throughout the year and eventually most of the year to enjoy the canadian wilderness. 

Thanks for the responses and advice.  Take care.

[cecropia]

Hi,
 I get a property sales "catalogue" from H.M. Dignam. I believe that they buy tax sale properties (among others) to sell at a profit, but their prices are still relatively reasonable. They frequently feature Northwest Ontario properties. You can easily order their monthly property listings catalogue; I think it's about $15 a year Canadian and can be found by googling Dignam. They are also somewhat flexible in terms of payment. I actually bought a piece of land from them some years ago and don't have any serious complaints about them. Good luck.

[Dave2]

I have subscribed to Dignam Land for years.  I think its best value is if you are looking in a less common area and a specific type of land they might have.  The problem with tax sales is that they are random and you cannot forecast what you might get. Dignamland's replacement guarantee or financing options may have also have some attraction. 

The one area I have not done research on them is pricing.  Has anyone ever comparatively priced their properties to market.

Dave2

[Sasha]

Shadow,

Are you looking for vacant land, a cottage or year round home?  Check out this website for realtors in the Rainy River District.  Be careful, as soon as paper mills close, mining operations stop, the towns become ghost towns, prices fall etc...  Waterfront holds its value a little better in the tourist destinations.  If you're not looking to 'make money' buy near one of the 'ghost towns'.  If you want to make money, buy near a newer mining claim and sell quickly if mining operations are reduced and paper mills are closing in the area.  As soon as building for new property occurs, prices stabilize though a temporary increase is observed while there are no new homes and an increase in mining activity (hiring of persons from outside areas looking for residences) until new developments are built.

http://www.rainy-river-property.com/realtors.asp

[cecropia]

Dave2,
Regarding Dignam and land values, I have wondered about your question as well. When I bought my piece of property from them, I later learned that I could have bought my land or other pieces nearby, slightly cheaper by asking around and buying directly from the owners of the properties. However, I didn't have the necessary leisure time to spend getting to know everyone who might have a piece of property for sale. Nor could I be assured that it would all be above board, whereas I felt fairly safe with Dignam and in fact, ended up taking a few years to pay for the property - something I couldn't have done if I were buying directly from the seller. In the end, I felt that while I may have paid a slightly higher price than buying directly from a property owner, it was worth it to me to be able to pay it off in installments and also to have the option of trading the property if I became dissatisfied with it for any reason.
They also tend to deal in marginal land and land without buildings on it, so it's really hard to place a market value on the properties, especially those where there might be limited access or some other impediment. I would be interested in hearing if others have compared Dignam's prices to the market.

[Sasha]

Shadow,

I contacted the municipal townships and got information regarding surplus land that the township is selling, they won't give you the information on the phone, I had to go directly to the municipal office, a few may send you the info.  These properties were lots in town and a few rural lots but not lakefront, though many lakes are nearby. Many of the properties on lakes are privately owned or crown land.  The Ministry of Natural Resources previously listed surplus crown land for sale on its website but no longer does, they now lease out the land to adjacent property owners or commercial establishments.  I'm hoping a few of the municipalities may own lakefront properties that they will sell as surplus, possible.  There is miles and miles of vacant land in northwestern Ontario (very different from southern Ontario), it belongs to someone.  Lucky if you make money and its possible with lakefront, but too much vacant land and communities that aren't growing to make the amount of money possible to make in southern Ontario, though there is a temporary 'lull' in that market as well.
Any idea what the cost is to build a home in northwestern Ontario?  Many mobile homes and modular homes and a few Viceroy type homes, very few with proper foundations and basements.  Been trying to do some pricing, any help with pricing is appreciated.

[Sasha]

Shadow,

If you're still on the board, there are properties on tax sale in Sioux Lookout, one is waterfront.  Have no other info, yet, but its in the area that you're looking into, perhaps a little farther north than you wanted but one is waterfront.  Lots of First Nations reserves in area.  Sioux prices are going down, so be careful, check out MLS and Latitude 50 Realty to see current prices in area.  Municipality also has a non waterfront, surplus commercial property for sale.

Looked at a property in the Dryden area, nice property, owner is selling it at the same price they bought it for 5 years ago, value hasn't gone up and MPAC also thinks that property values haven't gone up.  Again, plenty of reserves in area and the town's economy is linked to a paper mill which is downsizing.  Many paper mills have either closed or downsized in area, actually, a similar trend among small towns with paper mill as main industry across Ontario.  Take a look at Cornwall, in fact, Wikepedia, the on line encyclopedia has economic history of the town and details what occurred after the closing of the paper mill in Cornwall.  If you're looking for nice piece near a lake and a place to have or build a cottage, then the economy makes no difference to you and there are many nice pieces of property in the area.

If you or anyone gets any info on the Sioux tax sale, please post and I'll try and get info as well.

Sasha

[Sasha]

Okay,  this is the response from the township.

Dear Sasha:

 

The property on 349 Moosehorn Rd has a cabin on it. The assessed value is 107,000 and is 1.03 acres. I don?t know if there is a well, hydro or septic field on the property. To find out if you could put a septic field on the property you would have to contact our Health Unit in Sioux Lookout and contact the building department at 807-737-2700

The property on 380 Goretzki Drive is cancelled

The property on 79 Second St. has a house on the property although; I don?t know anything about the house. There is I presume a septic field, water and hydro to the property.

If you have, any other questions please feel free to contact me at the number below

We do not have tender packages on line but I could fax one to you if you like

 

Yvonne Fenelon

Tax Clerk

Municipality of Sioux Lookout

Phone: 807-737-2700 ext 2204

E-Mail: yfenelon@siouxlookout.ca