Skip to content

Real estate market remains strong despite layoffs, says incoming prez

The incoming president of the local real estate board is optimistic about the market ahead, despite layoffs in the steel industry.

The incoming president of the local real estate board is optimistic about the market ahead, despite layoffs in the steel industry.

Rob Trembinski — a co-owner and sales representative at EXIT Realty Lake Superior — says a lot of Saulites are concerned about what the real estate market will do over the next 12 months.

“Personally I am optimistic it’s going to be another positive year for us, regardless of the situation surrounding Essar [Steel Algoma],” Rob said.

He said diversification in the local economy is helping downplay the effect of layoffs at the steel plant.

“Back in the 70s when Algoma Steel was employing thousands of Saultites, this would have been a whole different story,” Rob said.

“It will effect those directly affected by Essar, that is certainly the case. But I am confident the Sault has diversified since then to a point that one single steel mill isn’t going to be the end-all and be-all of our economy,” he added.

He admits the full effects of the layoffs are yet to be seen.

Rob said residential sales were up across the idustry in the Sault for 2014, despite less houses listed on the market.

“This year the number of sales is up about 6-percent and our total sales volume is up 12 percent,” he said.

“People are saying ‘there’s lots on the market.’ There are actually less houses on the market than the last couple of years and sales are up,” Rob added.

Rob takes over as president of the Sault Ste. Marie Real Estate Board on January 1, a position his father Terry Trembinski once held.

Rob returned to the Sault after about 12 years combined of schooling and working in the U.S.

“There’s so many great things about our community that until you leave, you don’t understand how great a place this is,” he said.

Terry founded EXIT Realty Lake Superior in 2000 and sold the business to Rob and his sister Kristen in late 2012, capping off a career in real estate spanning over 35 years.

“When my dad had his stroke it was the right thing to do to come back and help with the business,” said Rob.

Terry now lives in Oshawa.

“As much as he likes Oshawa, I know he misses the Sault. His lifetime of friends are here,” said Rob of his father.

“He had done a great job growing it to where it was. It was our job to take it from there. In the past three years we have grown EXIT to one of the biggest brokerages in the Algoma district and number one market share in Sault Ste. Marie,” said Rob.

The mild weather is having a positive effect on the market, which traditionally slows down in the winter months.

“[Potential buyers] think someone is buried in the back yard under the snow,” Rob said.

Once spring returns, he said there will be a better sense of how the market is affected by layoffs in the steel industry.

“I am optimistic we will have answers and things will be cleared up by then,” Rob said.

One of the first questions Rob is asked by potential buyers is, ‘how much do utilities cost?’

Rising electricity costs in Ontario have affected sales of houses using baseboard heaters, said Rob.

“There is a large portion of [homes in] our community that were built with electric heat. That made sense at the time but has certainly changed,” he said.

But he said that buyers can seize the opportunity, buying a house with electric heat and converting it to another system, such as forced-air gas.

Rob said he is still seeing former Saultites — who left to attend school or for work — returning to build their families.

“I wouldn’t say it overcomes the amount of people leaving. I see a lot of seniors moving closer to where their children and grandchildren are,” he said.

Many seniors are also opting to downsize, he said.

Rob said developments — such as the Riverwalk Condominiums in the former Plummer Hospital site — will open up more housing as result of people downsizing.

“It’s a great location, close to downtown with great views of the river,” he said.

Although Rob said banks are starting to tighten up on financing, it remains a buyer’s market due, in part, to what he calls, ‘crazy low’ interest rates.

“It’s a good thing when in the end of November and beginning of December open houses are still really busy. That means people are still out looking,” he said.

“As long as you can still see grass people will continue to look.”


What's next?


If you would like to apply to become a Verified reader Verified Commenter, please fill out this form.




Kenneth Armstrong

About the Author: Kenneth Armstrong

Kenneth Armstrong is a news reporter and photojournalist who regularly covers municipal government, business and politics and photographs events, sports and features.
Read more