Toronto, ON Real Estate News

By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Renovations that could add value …..   Flooring: engineered hardwood flooring   Countertops: The overall appearance that fits the kitchen best, could be granite or quartz.   Lighting: Light fixtures should match the style in the property.   Hardware: Good quality door handles and cabinet knobs are an easy way to make the place look stunning.     When the flooring, lighting, and hardware all work together, it gives the property a feeling of luxury. This will attract the Buyers’ attention, and the Sellers’ will likely get a better price.
Comments 13
By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Housing market headlines …….   Housing market headlines can be confusing: Markets are up. Markets are down. Markets are changing. Markets are about to change.   In some areas sales volumes are down, due to lack of activity. In other areas prices are up, due to lack of inventory. The media has to write news items every day, and they put their spin from one day to the next, to make it interesting.   There are several factors to consider such as active listings, demand, price range, price movement, product type eg, commercial, residential houses, residential condos. Also, properties for sale or properties for rent.     The headlines report statistics and trends and even though they are referring to a region, there are differences in the micro-facts of each neighbourhood in a region; and i...
Comments 5
By Diane Plant, Broker, TorontoHomeSearch: Forest Hill Real Estate
(Forest Hill Real Estate Inc, Brokerage)
Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 3,838 sales through the TorontoMLS system during the first two weeks of March 2015. This result represented an 11.8 % increase compared to the same period in 2014. New listings were also up over the same period, but by a lesser annual rate of 8.4 % “Strong year-over-year growth in home sales continued during the first half of March for most home types in the GTA, both in the City of Toronto and the surrounding regions. This suggests that households continue to view the purchase of a home as a quality long-term investment. But for a lack of low-rise listings in some neighbourhoods, it is quite possible that the number of sales could have been higher,” said Mr. Etherington. The aver...
Comments 0
By Diane Plant, Broker, TorontoHomeSearch: Forest Hill Real Estate
(Forest Hill Real Estate Inc, Brokerage)
   Welcome To  16 Chicora Ave   Offered At  $1,649,000   Prime East Annex Home. Extra wide & enlarged 3 storey semi. A front addition & 2 storey rear addition. Hardwood Flooring, Skylights, Granite, Pot Lighting, Sauna, Many Built-Ins, Abundance of storage. Dressing Room in Master Bedroom Suite. Split Heating/Cooling Systems for Master, 2nd & 3rd Bedrooms. Wine Cellar, Rooftop Terrace. Professional Putting Green in Lower Level. Professionally landscaped garden. Can easily be converted To 4 bedroom home.                                                                                                                                                                                                                                                                                                 ...
Comments 1
By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
The two markets (houses and condos) within the Greater Toronto Area housing market …….   RealNet Canada Inc. and the Building Industry and Land Development Association’s research show that in February 2015. 1.     The average price of a new house in the Greater Toronto Area was $733,578 and this is a 12% increase over the previous year. 2.     The average price of a new condo, on the other hand, increased less than 1 per cent during the same time period, going up to $442,672.   The limited supply of land in the Toronto area is increasing the value of new single-family home development. Currently, there are no line-up of investors or their representatives to purchase in new condo projects; causing developers to keep condo prices low and to shrink the size of the condo units.     Accordi...
Comments 3
By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Earth Hour is between 8.30 PM and 9.30 PM on 28th March 2015   Our planet will celebrate Earth Hour, on the last Saturday in March.   The lights will be out for one hour in many cities and towns in about 162 countries, across the globe.   It is easy to participate, just switch off the lights!   In doing so, you will save electricity and support the environment.     Earth Hour should not be confused with Earth Day. Earth Hour started in Sydney, Australia in 2007. It is a global sustainability movement aiming to stop the degradation of the earth’s natural environment.
Comments 10
By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Welcome to Spring 2015!   So, Spring arrived at 6.45 PM this evening. It feels good psychologically, even though the temperatures are still low. Ever so thankful that it is not as low as it was for most of February.   In Toronto, it was the first February in 75 years where the temperature did not climb above the freezing mark.   Now we can look forward to longer daylight hours and warmer temperatures.   Also, this year there was a total eclipse of the Sun on the same day of the Vernal Equinox! This is quite rare; the next time this happens is 2034. The total solar eclipse occurred over the Faroe Islands, off Scotland.   North America will see a total solar eclipse on April 8th  2024 ……. quite some time away.
Comments 4
By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
The Get it in Writing initiative, has been extended for another three years.   The Canadian Home Builders Association, in partnership with the federal government, are overseeing this program that helps Canadians who are planning on having a home built or their current home renovated. It will continue to help consumers with topics such as hiring a contractor and the dangers of using ‘cash’ contractors.       Home renovation and repair represent about half of all residential construction work undertaken by contractors.   More often than not, homeowners who assume they are getting a deal when they agree to pay cash for a lower price, end up paying more when things go wrong, and they have no way to hold the contractor accountable; because by then the contractor has moved on.    
Comments 4
By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
When should you buy real estate?   I say at the earliest possible time you can afford to; more often than not, it is in the 25 to 30 years, age range. So that, by the time you get to the 60 to 65 years, age range; your real estate investment can provide retirement funds.   Many young people in Toronto are choosing to rent rather than buy, even though the cost of borrowing the mortgage funds is low. A big reason for this is the hype in the media about a correction /crash being imminent. This has been said for at least the last fifteen years and it has not happened yet, in Toronto. So for now, the renters are making their landlords rich …….
Comments 1
By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Plans for 1 Bloor St. W., Toronto.   The Toronto businessman who purchased the Stollerys building at the southwest corner of Yonge and Bloor streets is planning a building, according to him, that will put the intersection “on an international map.” This is one of the busiest intersections in the city   The tower is being called ‘The One” and it is going to be 80 storeys high.   The plan, designed by British architect Norman Foster, will replace the Stollerys buiding that has occupied this famous corner of the city for 114 years.  If approved, it would be the tallest building in Canada, other than the the CN Tower.   They are trying to create a shopping destination to compare with Chicago’s Michigan Avenue and New York’s Fifth Avenue. The plan is to build and open the retail section fir...
Comments 3
By Digital Digital, full service
FREE Power Of Sale Real Estate Seminar!!!  You Will Gain Insider Secrets To Purchasing Power Of Sale Properties $$$$ Thousands Of Dollars Below Market Value!!! Register Today @ :www.bankforeclosurehouseprices.com Admission: FREE with promo code: ARPOS Seminar Available Date and Location: Saturday March 28, 2015 @ 10am Location: Markham, ON FREE Offers: * Get A FREE Power Of Sale and Distress Sale - Home Buyer’s Guide For Newbie’s. * Get A FREE Power Of Sale and Distress Sale List Of Homes and Condos With Pictures and Detailed Description. Price Range From $239,900 - $849, 900!!! 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 home...
Comments 0
By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
An Assignment of an Agreement of Purchase and Sale takes place when the original purchaser who bought from the builder assigns or sells the contract that was signed with the builder.    The builder Agreements usually prohibit the purchaser to assign the Agreement. However, in the current Toronto condo market, there is more need for Assignments, as some investors want to sell, make a profit and move on. So, builders are agreeing to permit Assignments.  The builders charge a fee between $2500-$5000 to give this consent.   It is recommended that an Assignment Agreement contain two important clauses: 1.   the Assignment Agreement should have a clause with a condition requiring a review by the lawyer for the Assignee and also the Assignor.  2.   the Assignment Agreement should be conditiona...
Comments 2
By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Buying Real Estate is an emotional business, mainly because buying a property is one of the biggest financial decisions for a person or persons who decide to invest in a home. This decision could affect their lives for years to come.   The right neighbourhood, the appropriate schools, community facilities that meets the needs of the family or individual are important factors when choosing the location of the property.   If buying a condo, the other considerations are what is the reputation of the Builder; and what facilities or amenities are included within the building complex.     Some of the amenities can be extensive, such as an Olympic size swimming pool, or an indoor / outdoor pool, a well-equipped gym including a weights room, squash courts, tennis courts, a running track, a the...
Comments 2
By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
St. Lawrence Neighbourhood Dog Run; a place for dogs to romp and play and poop.   Most owners’ pick-up after their pets are done, doing what they need to do. However, in this snowy weather, it sometimes sinks beneath the snow, and then reappears when there is a thaw.   Sometimes, a driver would pull-up along the The Esplanade, open the car door, so the dog can run into the park, poop and run back into the car.   So, a lobby group was formed trying a plan to fence-in, a part of the park, as a dog run, for the pets of owners in that neighbourhood.  
Comments 4
By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
The College by Tribute Communities   Tribute Communities is building a new condominium complex at College St and Spadina called ‘The College’.   It is a medium-rise building of 15 Storeys with 226 units. The price range is $343,990 to $615,990 for unit sizes ranging from 452 sq ft to 1035 sq ft. The ceiling height is up to 9’. Amenities will include an exercise room, billiards room, lounge, concierge, etc.    It will be close to The University of Toronto’s St. George campus and close to Streetcar routes making it easily accessible by public transit.   Construction has started and is expected to be completed next year.
Comments 2
By Diane Plant, Broker, TorontoHomeSearch: Forest Hill Real Estate
(Forest Hill Real Estate Inc, Brokerage)
Toronto has finally broken the 1 million dollar barrier for the average price of a detached home.   The housing market continues to explode. 6,338 home sales through the TorontoMLS system in February 2015. An 11.3 % year-over-year increase. The overall count of active listings at the end of February 2015, was down by 8.7 % compared to last Feb. This has lead to more competition between buyers. The overall average selling price for February 2015 home sales was $596,163 – up by 7.8 % over same time last year. Driving this increase was the detached market segment. In the City of Toronto, the average detached selling price moved above $1 million dollars for the first time in a calendar month.
Comments 0
By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
The Toronto condo market is still very active   Towards the end of 2014, builders were putting the finishing touches on about 10,000 new condo units in Toronto, that were made available to buyers in early 2015. This is eight times more than the monthly average over the past decade. The majority of the new condo units have already been sold, mainly to investors.   However, the influx of new units has increased the number of unsold units to a 21-year high. It is a big increase, especially in light of the fact that the city’s condo market has been of concern to federal regulators; with regard to the rising levels of household debt in Canada.   Much of this new supply is the result of a building boom that began in 2012, when developers started the construction of more than 37,000 new condo...
Comments 4
By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
TTC Fares increase this Sunday   On March 1st 2014, there will be fare increases for those who ride the trains, buses and streetcars.   Children under 12 years of age will ride for free   Cash payment is $3.00 per adult Tokens or tickets will be $2.80 per adult   Weekly pass is $40.75 and Monthly pass is $141.50   As an aside, more of the ‘state-of-the-art’ streetcars are coming on line to service the 510 Spadina route and the 509 Harbourfront route.  
Comments 1
By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Before undertaking a renovation project …… short list of things to consider.  1.    Hire a reputable contractor and check references.  Also make sure that the contractor is licensed and insured. 2.    Most large renovations will need the contractor to obtain permits example for electrical work.  Having all the permits in advance helps the City authorities to do a proper inspection when the work is completed. 3.    Do not make cash deals as there will be no proof of payment if problems arise later. 4.    Payments should only be made when a milestone has been reached, with all the work completed for that stage of the contract. The contractor also has to provide proof at every stage that any sub-trade being used has also been paid for the work done. 5.    The contract has to be in writing...
Comments 4
By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Do Housing Forecasts mean anything? Almost every other week, there is some kind of forecast by economist, bankers, financiers, realtors, mortgage brokers ……… about the housing market.   The Canada Mortgage and Housing Corp. is forecasting that Ontario's economy will increase the demand for housing.   The lower Canadian dollar is expected to improve Ontario's economy and help new housing construction and sales. Also, the low interest rates, is expected keep the mortgage rates in line to support the housing demand.   Bearing in mind that all markets are local, the Greater Toronto Area is furthermore, expected to remain strong due to the population growth in the area.    
Comments 9