In Port Carling, a redevelopment of the Glenwood Trailer Park has been proposed to create a 250-home subdivision on the 44-acre site. This “Hanna’s Landing” project needs official plan amendment. Cottagers on Mirror Lake and Lake Muskoka are concerned that the size & density of the project will affect water quality.

On Lake Rosseau, the venerable Windermere House resort is undergoing extensive renovations and modifications, including relocating the dining room to overlook the Lake. The new owner is a successful Toronto restauranteur. Windermere Marina has been purchased by Skeleton Lake’s Woodland Marine. Plans are underway at the marina for increased dockage, and off-site service & storage facilities.

Also on Lake Rosseau, the massive "Red Leaves" resort in Minett is scheduled to have its “Rosseau” hotel open this summer. This opening may be delayed by the ongoing construction of a municipal-grade sewage treatment plant. A local residents’ group was opposing the rezoning of the hamlet of Minett to "resort village" on grounds of very high density, but the group has now dropped their appeal to the OMB.
“The Rock” golf course is also expected to reopen this spring, after having been closed for the 2007 season while 5 holes were being reworked to make the course user-friendly.

On Lake Joseph, a demolition permit has been issued for the historic Marygrove resort, situated across from the Lake Joseph Club. The resort’s owners, The Sisters of St. Joseph, have not set a date for the demolition. The owners have applied to rezone the site to allow 4 cottage lots to be created in place of the current resort.

Huntsville’s former “Hidden Hitch” auto parts plant has been sold to “Aero Defense Products”. This Canadian corporation will build armoured cars and ambulances, and plans to employ 100 people by 2010. The factory will provide the Town with an estimated $1.7Million in annual economic benefits.

Also in Huntsville, the “More FM 105.5” radio station has been bought by the Haliburton Broadcasting Group. The Group now operates 13 stations in central & northern Ontario under the “Moose” banner.

On The Lake of Bays, the former “Britannia” resort property on the west shore is for sale. The owners were asking $15Million, but are now asking for tendered bids. The property has approximately 2,500 feet of waterfront and 450 acres of land. “Britannia” has been owned by a new-age religious group since the 1970’s.

The “Muskoka Bay Golf Club” near Gravenhurst was voted Canada’s Best New Golf Course for 2007. It is a long, dramatic course surrounded by granite ridges and small lakes. Well worth playing!

On Muskoka's restaurant scene, in Bracebridge the popular “Wabora Fusion” Japanese Steakhouse was selected as one of Canada’s 10 best new restaurants for 2007.

SOLD:                   Lake Joseph Burnt Island 6,300 ft superb private shore, 33 acres       Asking:  $ 8,500,000.
SOLD:                   Lake Joseph Olde Muskoka estate, 1,595 ft idyllic South shore            Asking:  $ 4,595,000.*
SOLD:                   Lake Joseph 900 ft contoured shore on Craig Point, sunsets too          Asking:  $ 2,900,000.*
SOLD:                   Lake of Bays “Blueberry Point”, over 820 ft perfect shore/sunsets    Asking:  $ 2,350,000.
SOLD:                   Lake Joseph/Joseph River new exec cottage, 650 ft sand shore            Asking: $ 1,695,000.
SOLD:                   Lake of Bays Jo-Lee Point, captivating California beach home          Asking:  $ 1,575,000.
SOLD:                   Lee Lake private 70 acre Lake near Huntsville, 600 acres forest        Asking:  $ 1,495,000.
SOLD:                   Lake of Bays 3 family cottages on 285 ft sand West shoreline              Asking: $    689,000.*
SOLD:                   Lake Rosseau Royal Muskoka, family cottage on sandy shore             Asking:  $    629,000.
SOLD:                   Lake Muskoka Milford Bay locale, year round home/cottage              Asking:  $    525,000.*
LISTED:               Bird Lake private 1,700 ft private shore, 74 acres, E Bracebridge     Asking:  $    695,000.
LISTED:               Lake of Bays over 300 ft sunset shore, roomy cottage & bunkie          Asking:  $    549,000.
LISTED:               Lake Muskoka Milford Bay ideal Islander landing, older home          Asking:  $    369,000.
*represented the purchaser

2008 is my 12th year as a Muskoka realtor. I have built a solid reputation in our neighbourhood for real estate professionalism and performance. My total career sales of cottage properties now exceed $100 Million. Approximately 90% of my sales are now comprised of repeat & referral clients. Thank you!
Despite ongoing problems in the U.S. economy and its housing sector, our Muskoka cottage market has not yet seen a softening in demand or prices, as the Canadian economy remains strong. We could see some buyers choosing to purchase cottage property rather than invest in the unstable equity markets.
I predict our maturing market of the past 3 years to continue in 2008. Expect the inventories of available cottage properties will again increase slightly, but will not be sufficient to meet ongoing demand, particularly in the $1.5Million-plus segment on The Muskoka Lakes and in the $750K-plus segment on The Lake of Bays. Thus I predict further, moderate increases in prices in these market segments.
At Chestnut Park, our 2007 sales results were up 15% over last year in both the number of properties sold and in dollar volume. Our 2007 average sale price of $1.2Million is almost identical to both our 2005 and 2006 average. Our 2007 dollar volume of  Muskoka sales was $243Million, a new record for Chestnut Park.

From Muskoka MLS records, the average sale price of a property on The Muskoka Lakes increased from 2006 to 2007 by almost $200K  to $1.130Million. This spike in average prices reflects the sale of a number of properties in the over-$5Million segment. On The Lake of Bays, the average sale price was $511K. 
Our Muskoka market is experiencing price resistance from buyers in the segment up to $700,000 on Lakes Muskoka, Rosseau & Joseph. Potential buyers are viewing cottages, but waiting for prices to be adjusted downwards to meet their value expectations. Some buyers are looking to smaller lakes as alternatives.

The “spec-build” segment of our market has almost disappeared due to lack of available building lots, and high material costs. Prime lots on Lakes Rosseau and Joseph are now selling for over $5,000 per ft frontage.
Do you know what your cottage is worth in today’s maturing market? Call me for a complimentary evaluation without obligation. I currently have qualified clients wishing to purchase cottages and vacant lots on Lakes Rosseau, Joseph, Muskoka, and The Lake of Bays.
Enjoy your spring in Muskoka, 

Paul Crammond.