Here is a quick little synopsis of the last 30 years in Downtown Toronto. The biggest change, apart from prices which have increased almost seven fold, is the number of Condominiums in our marketplace. Since the late 1970's and early 80's, Condominiums which were only 2-5% of real estate sales have increased to just under 50% of the sales activity in 2007. What is really great however, is that over the past ten and certainly five years, the number of renters converting to home ownership has significantly increased as can be seen in this graph by CMHC. Not only has this drastically changed the Toronto Skyline, but it has increased the tax base and made us more of a "Home-proud" City! Become a Homeowner today. Whether you are a first-time buyer or investor, let me help you. Call me at 416... 01/19/2009

Cabbagetown is a Village in the middle of a big City. One of the many that make Toronto great and one of my favourite areas for its' diversity. You can have a great coffee at the Jet Fuel Cafe and be verbally abused by the owner, lovingly named Johnny Jetfuel. Do not order a non-fat, no-foam Latte in a double cup (my usual Starbucks order) or you'll be told "You'll get it how I make it, with 2%, in one cup, and if you don't like it-see ya!!"  However, if you can be flexible, it's addictive and the Jet Fuel Cafe' is the centre of the Cabbagetown Community. Don't be intimidated by the would-be Lance Armstrongs walking around in skin tight bicycling outfits. Johnny was a Bicycle Courier in earlier years and it has become the hangout for some really fit. However don't worry! There are lots... 01/19/2009

One of the most important trends to watch in Real Estate is the average number of days on the market. Over the past year there has been an increase in the days on the market from 30 days in the most active market to our recent level of 38 days. To Sellers this means that expectations have to change and for Buyers this means that there is not the urgency to buy...however do not be surprised when great properties still sell quickly and for good prices. Unusual homes in good locations are not as affected by market conditions..don't get caught sleeping at the switch. You may not be the only person looking for that special something! For more comments visit: Downtown Toronto Real Estate: Days on the Market. 01/19/2009

Before you think of putting your home on the market, call your REALTOR and ask them for a brutally honest discussion of issues that they think should be addressed in your home  before listing. Here are a few tips to keep in mind that might help you on an ongoing basis so pre-listing preparation is kept to a minimum.    Remove all clutter. Visually simplify each room. Let a purchaser imagine their decor in your home. As well, you limit your market if your home is too strongly decorated.     Check your home for obvious issues like water spots on the ceiling and get them fixed. They will tip off Purchasers or Inspectors to a problem that may no longer exist.     Repair everything that needs to be repaired...do not renovate. Try to paint any major areas to brighten your home. Remember that ... 01/19/2009

There is a Big Cow (not an Elephant) in the room when any discussion takes place about the US and its present credit crisis. Neither the Democrats nor the Republicans will touch this Holy Cow; Mortgage Interest Deductibility. At its conception in the early 1900's it was a great boon for a young growing economy but what it has created is a Society that has flourished on great amounts of debt. A Canadian will proudly tell you that their Mortgage is paid off, an American will look at the Canadian and wonder why they would do something so foolish. Why not use the equity to buy something else until there is no more equity left, just debt. Sadly, the Bush Government has been running the Country the same way. Canadian Banks allow Buyers to borrow up to a 33% of their gross income; American Ban... 01/19/2009

When I encounter someone not in my small circle of friends, and they ask how I am, I know that the second question will be "How's the market?" Without trying to be rude (my first instinct...), I try to point out that it is almost impossible to gauge any statistic that would reflect a world economic crisis as well as Canadian and American elections within a short time frame. Of course, the Real Estate market will be affected much as it was on and after September 11. That was short-lived and people got passed the paralysis and life moved on. Let's give all this chance to settle out and remember that your home is not a stock portfolio. It is where you share time with family and friends and where your health is more important than any property valuation. Happy Thanksgiving!! For more commen... 01/19/2009

We live in a great City for biking....I really should do more but I love walking...you get to see so much more... and that is the problem. As I walk through the City though, I find myself getting angrier and angrier at the Bikers. First of all, I am walking on a sidewalk...not a sidebike. What are bikes doing on a sidewalk especially when they are adjacent to bike lanes?  I live next to a street that has bike lanes on it, so what are bicycles doing zooming past me up on the sidewalk, going both ways with little or no respect for the walkers and runners that occupy the "sidewalk". It is then that I notice that the rolling racers are not wearing helmuts and that the Government only mandates those under 18 to do so. Yet, in this Province everyone sitting in a car must wear a seatbelt or yo... 01/19/2009

I am a creature of habit. I get up very early, exercise, respond to emails and head to Johnnie Jet Fuel's for a (you'll get it the way I make it!) Latte'. The early morning music can be a bit too stimulating so I often find myself standing outside and watching the new construction at the south-west corner of Aberdeen and Parliament. Most mornings I end up shaking my head. Sorry, but I don't get it! In an area full of Victorian peaked roofs and gables, what is that "Square Bunker" doing there? We have an active Cabbagetown Preservation Association and an Old Cabbagetown BIA, not to mention that Cabbagetown is protected by the Toronto Historical Association. Were they not on their watch? Were they asleep at the switch? Granted, I do not claim to have the have the eye of Toronto Star Colu... 01/19/2009

Toronto's Winterlicious 2009, runs from January 30 - February 12.  The wildly popular prix-fixe menu promotion, also includes cool culinary events, cooking classes and more guilty pleasures.  There are 150 participating restaurants, at affordable prices.  Reservations start today.  Bon appétit!! http://www.toronto.com/winterlicious www.toronto.ca/special_events/wintercity/winterlicious.htm "TORONTO'S CONDO SPECIALIST" Casey Ragan www.TheCondoLife.com  01/17/2009

I will state the obvious, we are experiencing a recession here in Canada.  And some people may be questioning whether they will be able to pay their mortgage in the near future.  A home with a basement apartment may be the key.  If you have a home currently with a second kitchen in the basement, consider renting it out to help cover your mortgage payments.  If you are looking to buy a home, maybe consider one with a second kitchen or a duplex or triplex.  Their are rules for basement apartments that make it safer and legal, so call me for the details. If you would like to start receiving listings for these types of homes, drop me a quick e-mail at info@torontosuburbs.ca and I will start sending them today.   01/15/2009

Paul Meredith, a mortgage broker with CityCan Financial, provided me with current information on mortgage rates today, and a great message, and I thought I'd pass it on to you - the buyers taking advantage of this market.If you are looking for additional mortgage information, feel free to give Paul a call.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . With mortgage rates still falling, and more cuts expected, prospective home buyers are in the drivers seat considering the amount of inventory that is available to them, and the number of motivated sellers.   At this time, there is a window of opportunity for homebuyers to be purchasing and it is important for them to realize th... 01/14/2009

In this market, when buyers want a quick closing (to ensure the house is worth the same when it closes, as it was when they bought it), it is important for sellers to be qualified, as well. - Do a Net Equity Statement.  If the home sells for X, will that amount cover all the mortgages? Cover the lines of credit, or home equity lines?  Will it cover all your debts/credit cards/loans? Will it cover your legal costs and real estate fees? - Plan your Move If a buyer requests a short closing; and they will, in this market, do you know exactly where you are going to live? - Can you help sell your house? If a buyer needs it, are you in a financial position to take back part of the sale price as a first or second mortgage?   Make sure you and your Realtor go over everything, and you know exactl... 01/13/2009

This is something that I go over with each and every one of my clients, but I thought I would pass it on to the general public.  This is especially important to do, in this market.  Ensure that you review everything with your Realtor.  If you are unclear about anything, ask questions.  Take notes.  Ask more questions.  Don't be afraid to call and ask questions until you know you've got it; or you're comfortable with the information (and it can be a lot all at once; so take your time, but be thorough). - Get pre-approved for your mortgage.  Getting pre-qualified is not enough - Ensure you have your downpayment available (in the bank).  Make sure the money is enough to cover all closing costs and any 'surprises' that may arise - Don't spend any money on major purchases, between the time y... 01/13/2009

My client and dear friend Rochelle Holt owns a great bookstore in Harbord Village (Toronto). I have spoken about Rochelle and her book store before, but with the start of a New Year, and renewed hope for peace in the world, spiritual wellbeing, living a healthy lifestyle, including meditation and relaxation, yoga, etc., I thought I would introduce you to WonderWorks one more time. I love this place.  I don't visit nearly enough times, but every time I do, I bring something with me that helps me that little bit more to let go of everything (stress) - even if just for a little while.  I have enjoyed beginner Yoga DVDs,music that has helped me relax, and more recently, a cd with wonderful 'sounds' to fall asleep by (and if you have trouble sleeping like I do, you'd run to get one). Here ar... 01/10/2009

Sometimes I truly feel sorry for the FSBO's I recently came across a situation when the owner of the property had a certain concept, and the FSBO advertiser sold them a Pie in the Sky Idea.  Here's the situation; Owner's of a New home SAVES SAVES SAVES the commission on the sale of their Brand New house that they did not move into. It is and continues to be vacant.  They place a FSBO sign on the lawn clearly identifying the property.  They PAID this internet site and concept provider in good Faith that their house would be exposed to the market and they would Save.  The phone number they wrote in on the sign.... Was the telephone number of the FSBO site's contact to sign up as a FSBO. The FSBO site has no way to cross reference the phone number to a property, there is no way to direct t... 01/10/2009

Correction seems like the kindest word… 2008 was at once cruel and kind in the Toronto housing market.  Cruel, no doubt, to investors who had placed their faith in the potential appreciation of Toronto real estate and especially to buyers who invested in multi-unit schemes intended to reap large rewards.  While real estate prices in the Toronto market have fallen by an average 8% in the last 12 months, this frankly is a pretty modest decline compared to losses experienced in equity and bond markets.   Cruel too was the experience for most homeowners of opening up their recent property assessment notices - many of which seemed to reflect what your home may have sold for on the busiest night of the bidding war era!  But there weren’t 9 cars idling outside with anxious buyers, and a $50,0... 01/09/2009

The Bank of England has cut its overnight lending rate by half point to 1.5%, the lowest since the central bank was founded in 1694. Many economists believe that the Bank of England will cut rates below 1.0% by the second quarter. The central bank reduced the interest rate by 1.5 percentage points in November and by 1 percentage point in December. Gina Burgio, Mortgage Agent VERICO Designer Mortgages Inc. Toll Free: 1-877-345-6265 Fax: 1-877-345-6256 Email: gina@ginaburgio.com Each VERICO Broker is an independent owner operator. 01/08/2009

Graphing courtesy of John Pasalis, REALOSOPHY Very few Listing Presentations go by that I am not asked, "When is the best time to sell our home?". My thoughts and the reasoning behind them are an assessment that deals with Selling in Toronto, remembering that Real Estate is a truly local business and is completely different as you travel the world.... Toronto is a very Cosmopolitan City, service-based businesses abound and there are two major vacation times in this City's calendar. Very little happens her in the two weeks before or after Xmas and during the humid Summer months of July and August, Torontonians head to the Lake regions surrounding the City. All one has to do is monitor the traffic in the Downtown during these times and you know that a large number of Torontonians have es... 12/31/2008

If you are committed to benefiting financially from the Real Estate market, it may defy your logic, but the best time to buy UP is when the market is DOWN. I recently sold a listing for $50,000 less than we would have sold it for 6 months ago, but at the same time the Seller was able to buy up to a property that would have cost him over $100,000 more six month's before. He saved $50,000. He was happy when it was pointed out that when buying up you must always keep the differential as the motivating factor. As the market moves up, the differential increases, as the market goes down, the differential decreases. Don't let the naysayers in the market place stop you from doing the math. Get your house on the market and SOLD, while keeping an eye on what is out there. Then when you are SOLD a... 12/31/2008

With the market going through a Downturn, it is natural that Sellers would be thinking about selling privately to maximize their profit. This is a tough market and you have to be primed to sell, so here are some suggestions that might help: 1) Make sure that everything in you house, construction-wise is perfect or close to it. 99% of homes in this market will be inspected for flaws, so you need a knowledgeable 3rd party to go through your home to make sure it will pass a home inspection. You might even want to hire a pre-selling Home Inspection by a certified Home Inspector. 2) I suggest that you disclose in writing what the Home Inspector finds. Certain issues could prove to be an out for a Buyer at or before closing time, if you knew them and did not disclose them at the time of the O... 12/28/2008