Toronto, ON Real Estate News

By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Tomorrow, July 1st is Canada Day! Here are a few pertinent questions and answers:Who was Canada’s first Prime Minister?Sir John A. MacDonald.In what year was the the current flag adopted?1965. What was the official flag before the Red Maple Leaf was adopted?The Red Ensign with the Union Jack in one corner.What is the year of Confederation?1867.Which were the original four provinces?Nova Scotia, New Brunswick, Ontario and Quebec.  
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
East 55 Condos –a new condo developmentSales  started for ‘East 55 Condos’ in 2015.  This is a new condo development (east of Yonge Street) currently in the preconstruction stage at 53 Ontario Street in Toronto. This project is scheduled to be completed in 2018. This development is going to be 25 storeys with a total of 276 units. The units range in size from 426 sq ft to 2243 sq ft and the sales price starts at $279,900.   Some of the features include: White painted interior walls 4″ baseboard and 2 1/2″ door casing Slab style bathroom, closet and washer/dryer room doors with brushed chrome hardware Frosted glass sliding bedroom doors Stacked washer and dryer Individually controlled heating and air conditioning system utilizing a heat pump system.
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Supply of low-rise homes, in Toronto  ….. limited Toronto is the largest city in the GTA (Greater Toronto Area) and one of the largest regions of activity in the country.  Due to the lack of supply of land it makes sense to build condo towers rather than single-storey houses. This has resulted in higher prices for homes (due to the shortage of low-rise houses). Also, higher land costs and restrictive government regulations have stretched out development project time lines to as much as seven years.   The supply of new ground-related housing in the GTA has fallen by half since the early 2000s, from about 30,000 units in 2001-2003 to about 15,000 units in 2013-2014.   
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Real Estate for Seniors A new service launched this week for investors interested in real estate for seniors.  The ageing population is creating new opportunities in the housing market.  This is a growing sector, with an increasing population of retirees and so property aimed at that demographic is proving attractive to investors. Baby boomers are living longer, working longer and are not making the same choices that seniors before them have made. The Ontario Retirement Communities Association launched its new data service on Tuesday. It is going to be an online service, called CORE. This service will give investors access to data on the market in Ontario including financial and property information. This service may expand to other parts of Canada. 
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Toronto Foodies  -Top Picks for This Weekend: June 5 to June 7  This weekend, Toronto foodies have many choices – there are several festivals to help you get your pick of food to eat. These include: Mac and Cheese Festival, presented by Metro, providing a gourmet twist to everyone’s favourite childhood dish, while giving back to the community through FoodShare Toronto. Riverside Eats and Beats, along Queen Street East between the Don Valley Parkway and Queen Street Bridge. Raw and Vegan Fest at 918 Bathurst Street, just North of Bloor St. Dundas West Fest, closes down Dundas from Ossington all the way west to Landsdowne. Many community groups, shops and restaurants make the Dundas West Fest successful due to the inclusion of all the local groups and businesses for food and entertainment.  
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By Diane Plant, Broker, TorontoHomeSearch: Forest Hill Real Estate
(Forest Hill Real Estate Inc, Brokerage)
A New Sales Record for the Month of May  Toronto Real Estate Board President Paul Etherington announced 11,706 sales reported by Greater Toronto REALTORS® in May 2015. This result was up by 6.3 % in comparison to 11,013 sales reported in May 2014. For the TREB market area as a whole, sales were up for all major housing types. However, in the City of Toronto, where the supply of low-rise listings has been constrained, sales were down for detached homes.Record May transactions, coupled with a dip in the number of homes available for sale, resulted in strong price growth. The MLS® Home Price Index (HPI) Composite Benchmark was up by 8.9 % year over year in May. The MLS® HPI uses benchmark homes to estimate price growth.The average selling price for all home types combined in May 2015 was u...
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By Diane Plant, Broker, TorontoHomeSearch: Forest Hill Real Estate
(Forest Hill Real Estate Inc, Brokerage)
SOLD86 Winnett Ave, TorontoOur thrird pre-emptive offer won this home   Fantastic 2 storey, semi-detached in Humewood School district.                                          *We provided a very happy buyers for their first home.                                    The property is move-in ready. Ren'd kitchen with white quartz counter tops,                                               Stainless steel appliances and walk-out to a large deck.                                     Large upstairs bathroom with 2 person soaker tub, rain shower glassed                                       shower stall, custom vanity sink and vanity. Stacked Washer/ dryer                                            Fenced in lush perennial back yard. Private parking.     CONTACT US       
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Toronto says goodbye to Captain John's This morning Thursday May 28th a giant piece of Toronto history was hauled away from the Yonge St. slip where it has been a fixture for 40 years.  Hundreds came by foot and boat to Queens Quay for the send-off, of the ship, the Jadran. Some came to salute the end of an era, others to say good riddance, and others simply to be there to witness the event. For a brief time, there was concern that mounting winds might delay the move again. But just after 10:30 a.m., as planned, super tug Jarrett began to pull on a harness attached to the stern and a cheer went up, as the ship smoothly edged out. Police boats, kept onlookers on kayaks, sailboats, water taxis and pleasure craft away. Two tugs worked in tandem to pull the ship; which has been moored for d...
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By Diane Plant, Broker, TorontoHomeSearch: Forest Hill Real Estate
(Forest Hill Real Estate Inc, Brokerage)
                     Holding Back Offers or                                   Pre-emptive Bully Offers Holding back offers until a specific date has become the norm-usually a week after the listing appears on MLS. This hold back date is posted on the listing in the brokerage remarks. Holding back offers have merits for both buyers and sellers: More buyers can view the property The listing agent can hold weekend open houses Buyers can get in their own home inspector Buyers can get pre-approved as opposed to pre-qualified. There might be a greater chance to get multiple offers=a higher price than asking. The downside: Another property comes out that is far more appealing Buyers don't want to bid in a multiple offer situation. Buyers have more time to think about the downfalls of the house...
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Greater Toronto Area – Home Sales a new high …….. Home sales in the first two weeks of May 2015 were 9.6 per cent higher than in May 2014. The Toronto Real Estate Board reported 5,655 sales in the first 14 days of May 2015, compared to 5,160 sales during the same period in May 2014.  The strongest price growth was in the detached homes market, with the average price up by 13.8 per cent. Detached homes sales growth in the City of Toronto has been strongest for high-end homes, thus pushing the average price higher.
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By Diane Plant, Broker, TorontoHomeSearch: Forest Hill Real Estate
(Forest Hill Real Estate Inc, Brokerage)
Toronto Real Estate Board announced a 9.6 % year-over-year increase in home sales reported by Greater Toronto Area REALTORS® during the first 14 days of May. There were 5,655 sales reported in the first two weeks of May 2015 compared to 5,160 sales during the same period in May 2014.The average selling price for this time period was up was  by 10.7 % @ $652,782for all home types combined over  the first half of May 2014 The strongest price growth was in detached homes, with the average price up by 13.8 %. “The low-rise market segments, including detached home sales, have been the driver of average price growth in the GTA this year. While tighter market conditions have been a key factor, average price growth has remained very strong including a shift to higher priced homes.Detached sales...
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Victoria Day 2015 in Canada …...is on Monday, May 18th This weekend is a long-weekend in Canada!  Victoria Day celebrates Queen Victoria's birthday (May 24th).  Victoria Day is always on a Monday; and  is commonly referred to as the Victoria Day Weekend, the May Long Weekend, or the May Two-Four (a case of beer in some parts of Canada is called a "two-four" and many of these are consumed over the holiday). For family fun, there are the Ontario Science Centre’s interactive exhibits and science demonstrations. Then, there is the ‘old favourite’ the Toronto Zoo with over 5,000 animals; and a ‘new favourite’ the wonders of marine life at Ripley’s Aquarium. There is a Toronto CityPass for 45% off on admission to five major Toronto attractions – the CN Tower, Royal Ontario Museum, Casa Loma, ...
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By Diane Plant, Broker, TorontoHomeSearch: Forest Hill Real Estate
(Forest Hill Real Estate Inc, Brokerage)
TORONTO, May 5, 2015 – The Average Selling Price in Toronto is now $635,932.00 up 10% of April 2014The overall average selling price, which accounts for all homes reported sold by GTA REALTORS® in April 2015, was up by 10 % year-over-year to $635,932. The MLS® Home Price Index (HPI) Composite Benchmark, which estimates the price of a benchmark home with the same attributes from one period to the next, was up by 8.4 % over the same period. The fact that average price growth outpaced growth for the MLS® HPI Composite Benchmark, suggests that a greater share of higher-end homes changed hands this year compared to last. 11,303 sales were reported in April 2015. This was the highest sales result on record for the month of April and represented a 17 % increase over April 2014. New listings we...
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FREE Toronto Power Of Sale Real Estate Seminar!!! You Will Gain Insider Secrets To Purchasing Power Of Sale Properties $$$$ Thousands Of Dollars Below Market Value!!! Seminar Available Date: Saturday May 23, 2015 @ 11amLocation: Markham, ONAdmission: FREE           Register Today @ :www.bankforeclosurehouseprices.com Our FREE Power Of Sale Real Estate Seminar Will Teach You How To:* Purchase a house or condo with *zero down payment. * Move from renting, to first time homeowner to Real Estate Investor in as little as 3-5 years.* Learn how to save up to *$10,000 on your next move.* The top 5 mistakes that could hurt any power of sale or distress sale home buyer.* How to take advantage of special incentives available to first time home buyers.  * About first time-home buyer government prog...
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Questions about Short-Term Rentals ....... The 2015 Pan Am Games in Toronto are just 2 months away. Associated with it are questions about short-term rentals. Should landlords allow their tenants to rent out their properties to short-term visitors? The event begins on 10th July 2015 and is expected to draw 250,000 visitors, along with 10,000 athletes.   Rental opportunities could be lucrative; some argue that this kind ‘payday’ should be considered. While others, prefer to avoid these types of short-term agreements.   Short-term rentals can be dangerous in Ontario because Ontario landlords cannot charge a 'damage deposit' and if there are damages or the tenants leave a mess, the landlord won't have a damage deposit to pay for repairs or clean up.Some landlords are worried that their ten...
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
  Condo Expenses  -Separate Bank Accounts Condo Corporations have two different types of expenses: 1.    There are the OPERATING EXPENSES such as snow removal, general maintenance and other recurring expenses for the up-keep of the property.and2.    There are the MAJOR PLANNED EXPENSES. These expenses are pre-planned, and paid for, from the Reserve Fund. Such expanses include the replacement of assets of the corporation and the updating and renovation of the common elements.  Therefore, the best accounting practice would be to have two separate bank accounts to make it easier to monitor and keep a track of all the expenses.  
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By Diane Plant, Broker, TorontoHomeSearch: Forest Hill Real Estate
(Forest Hill Real Estate Inc, Brokerage)
Toronto is undergoing the building of a Light Transit System which is both and underground and above ground route along Elinton Ave. It commenced in the West end and is progressing undergoround along Eglinton. in 2013 at Black Creek and will hit Yonge St in 2016. Last night we witnessed history in Toronto. The hole boring machine was moved from the east side of the Allen Rd to the west side on Eglinton Ave. It was witnessed by hundreds of people who were lucky enough to live close enough. The machine was raised from the tunnel underground by this machine.  The hole boring machine wighs in at 400 tons. It was loaded onto a flatbed truck that was remotely operated.  The video below is the actual moving processs https://www.facebook.com/diane.plant.50/videos/10204216734233810/?pnref=story   
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By Diane Plant, Broker, TorontoHomeSearch: Forest Hill Real Estate
(Forest Hill Real Estate Inc, Brokerage)
Toronto Mid-Month April Homes Sales Results Greater Toronto Area REALTORS® reported 4,635 home sales during the first 14 days of April 2015. Representing a 3.4 % increase compared to April 2014. New listings were down by 4.6 % year over year.The average selling price for April mid-month home sales was $625,121 – up 7 % year over year. Average prices were up for all major home types, both in the City of Toronto and the surrounding regions.“We are experiencing balanced to seller’s market conditions in most areas and market segments in the GTA. This suggests that home ownership demand is being driven by a wide swath of the population. There is strong growth in condo listings and has been met with strong growth in condo sales. We have experienced growth in higher-end home sales,”
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By Diane Plant, Broker, TorontoHomeSearch: Forest Hill Real Estate
(Forest Hill Real Estate Inc, Brokerage)
Are Toronto Homes Being Priced For Bidding Wars?  Buyers are frustrated and so are their real estate agents. I have been a Broker in Toronto for 26 years and I have witnessed many market changes and trends. Bidding wars are everyday occurances now in the negotiating process. Pricing a home was always based on fair market value. How was this established? Recent sales of similar homes, on streets surrounding the property to be listed gave the agent a reasonable price at which to offer the home for sale.  Today, homes in the "hot pockets" of Toronto are often priced $100,000.00 under the fair market value. If in week one a home is priced at $749,000.00 and sells for $850,000, in week two a similar home is priced at $755,000.00 and sells for $860,000. The following week another house is lis...
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Toronto condo buyers are into the spring marketThis week activity really started up ….... With the coming and going of Easter, Passover and March break, prospective buyers have more properties to view in the downtown condo market. Listings have increased and the number of buyers is increasing as well.Sales and prices tend to reach a peak each year in April and May, while March tends to be a bit slower, because of the breaks for school students.  Most condo buyers these days are people who actually want to live in the unit. They have no choice if they cannot afford a house. For most buyers, they are also on a rung on the property ladder, aiming towards buying a single-family dwelling sooner or later.
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