Toronto, ON Real Estate News

By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Is Business ongoing, during cold Winter months?   Some people think there is no real estate business undertaken during the cold Winter months and that the housing market comes to a stop, when the temperature goes down to sub-zero numbers on the thermometer; to a great extent, that is true.   At the moment, I am working on a rental deal. The Tenant is putting in an offer, and is hoping to move in, on the 1st of March.   Yes business is slow; and additionally there are more reasons to dislike the cold weather; reasons such as burst water pipes and transit delays.
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By Diane Plant, Broker, TorontoHomeSearch: Forest Hill Real Estate
(Forest Hill Real Estate Inc, Brokerage)
  Greater Toronto Area REALTORS® reported a 14.9 per cent increase in the number of sales entered into the TorontoMLS system during the first two weeks of February 2015 compared to the same period in 2014. There was a total of 3,120 home sales during the first 14 days of February 2015.  The number of new listings entered into the TorontoMLS system was also up on a year-overyear basis, but by a lesser annual rate of 3.5 per cent.  “As households continue to take advantage of the great diversity of home ownership options inthe Greater Toronto Area, home sales have continued to trend upwards. While home prices are higher compared to this time last year, borrowing costs are lower. Home buyers are still finding ffordable options to meet their housing needs,” said TREB President Paul Ethering...
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Frosty Valentine’s Day …….     Valentine’s Day in Toronto, ON is going to be cold. On Saturday evening it is going to be -16C and on Saturday night it is going to be -23C, feeling like -37C.   For some, the day will be a magical time for romance and others will be stressing-out, as to how to cope with the cold.   Some will spend the day enjoying Winter sports like skating or skiing, others will go out to a show and / or dinner and yet others not wanting to be adventurous, will stay cozy at home.   What will you be doing? Is it going to be something that stands out, or something novel.
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Toronto, ON had a bone-chilling Thursday with the temperature at -16C and wind chill of -26C.   Residents bundled up to brace the frigid weather, which is expected to linger for the weekend. There has been an extreme cold weather alert in force for the city as the negative double-digit temperatures continue.   Two extra 24 hour drop-in warming centres have been opened to provide clients with warm food and drinks.   Toronto has seen 18 days of extreme cold weather warnings, so far, for the 2014/2015 Winter season.       .
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
The Bartholomew, Toronto, ON   A new development is being launched this Spring by The Daniels Corporation.   It is called ‘The Bartholomew’ and is to be located at Dundas Street East and Regent Street, in east Downtown Toronto, ON.   It will consist of a 13 storey residential condominium tower with prices starting from the low $200,000's and traditional townhomes with prices starting from the mid $500,000's.   This project is steps from a new park, an aquatic centre, schools and shopping.   The condo tower suites will range from studio units to two-bedroom plus den units.  The townhouses will be three storeys with 2 or 3 bedrooms.     This project will be within the award-winning Regent Park revitalisation area.
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Small may be the way to go ……. micro condos   As more single people are wanting to own homes; and higher prices make cities like Toronto, ON unaffordable for single income or low income buyers, small may be the answer.   Also, investors are seeing it as an opportunity to buy small condos and rent it out to young professionals who move to the ‘big city’, Toronto ON in search of jobs. Young people spend most of their day time at work, and evenings socialising and are happy to come home to a small livable space that they call home.   Builders are hoping that the above reasons are going to give ‘micro-condos’ a boom.   Since mortgages are not readily available for condos that are less than 500 square feet, this market in micro-condos maybe limited to cash buyers.     In Toronto, ON there ar...
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Today, the St. Lawrence Supper Club meets at the Hot House Restaurant, at the corner of Church and Front Street starting at 5.30 PM. The cost is $30 cash at the door.   The Supper Club will hear about the ‘Options for the Future’, of the Gardiner Expressway East. Currently, there is heavy traffic, using the section east of Jarvis Street, to access the Downtown Toronto areas.   The Frederick G. Gardiner Expressway, referred to as "the Gardiner", is an Expressway in downtown Toronto, that was built in the late 1950’s and early 1960’s.   It is an important part of the City of Toronto’s transportation system.   Extensive repairs became necessary in the early 1990s, and since then the Gardiner has been the subject of many proposals including options such as: 1.    1. demolish it or 2.    2....
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
  Waterfront Toronto and Menkes Developments   Yesterday, representatives of Waterfront Toronto announced plans for a new 350,000 sq. ft. Innovation Centre  that is expected to provide about 2,000 new jobs in the city.    The private sector, namely Menkes Developments is going to fund the building, which is to be located on city-owned land in the East Bayfront neighbourhood; east of Yonge St on Queens Quay East.   The Mayor of Toronto was at the announcement and called it a ‘job creating jewel’. It is hoped that the building will be the beginning of a bigger innovation district and help Toronto attract ‘high value’ employers.   Menkes Developments plan on breaking ground next year and have the building completed by 2019.   
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Condominium Rental Units  versus  Purpose-Built Rental-Building Units   Recently, Urbanation has been engaged in consulting work, for the market in new purpose-built rental buildings.   In their research they found that some new purpose-built apartment rental projects have been achieving higher per sq. ft. rents than comparable condo project units.   They chose 5 recently completed rental apartment buildings, and compared them to condo projects that were of a comparable scale as the rental buildings.   With 4 of the projects, the average rent for purpose-built units was 4.4% higher or $0.12 more psf; but when the 5th  project was included the average rent across the five projects fell to 1.7% higher or $0.05 more psf.    The end results indicate that currently there is some premium ach...
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Local –a condominium project at Fort York Blvd in Toronto, ON   This project is located south of Fort York Blvd and north of Lakeshore Blvd. Local is a 15-storey boutique building in Onni’s master-plan community in the Fort York area. It is under construction and scheduled for completion this year.   It is steps away from the Bathurst streetcar route. To make residents feel connected to the Downtown core, there are plans for a pedestrian bridge. There are also plans for a grocery store and a new library in the area.   There will be 240 units altogether. The condo unit sizes range from 429 sq ft to 1300 sq ft. There will be a fitness centre, rooftop deck with BBQ facilities and garden plots.      
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By Diane Plant, Broker, TorontoHomeSearch: Forest Hill Real Estate
(Forest Hill Real Estate Inc, Brokerage)
Toronto Area REALTORS® reported 4,355 home sales through the TorontoMLS system during January 2015.  up 6.1 % over January 2014. During the same period, new listings were up by 9.5 %. The average selling price for January 2015 home sales was up by 4.9 % year-over-year to $552,575. The MLS® Home Price Index (HPI) Composite benchmark was up by 7.5 % compared to January 2014. "The January results represented good news on multiple fronts. First, strong sales growth suggests home buyers continue to see housing as a quality long-term investment, despite the recent period of economic uncertainty. Second, the fact that new listings grew at a faster pace than sales suggests that it has become easier for some people to find a home that meets their needs," said Mr. Etherington.
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Items to freshen-up the home space   In the Winter we keep the windows and doors closed, so as to keep the warmth in and not let the cold air in. Many homes today, especially condo units are energy-efficient ‘sealed’ spaces.   So, people buy items to freshen-up the air in the space.  Some of these items may give-off a chemical smell. However, some houseplants are efficient air purifiers and also reduce or eliminate the chemical smell in the space. Examples of these are Aloe Vera, Areca Palm and Boston Fern.     Another source of natural air purifiers are herbs. Examples are Rosemary, Jasmine and Lavender.     So, what is your choice to freshen-up the home space?
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Toronto, ON was named the best overall city to live in, by the U.K.-based magazine, The Economist.       Factors that were taken into account for the ranking were based on business environment, democracy, food security, safety and livability indices.   Although the overall rank was #1; Toronto was placed 4th on two of the indices: the Business Environment and Livability rankings, and only #8 in the Safe Cities category. Tokyo was #1 in this category based on indices that included pedestrian friendliness. One of my colleagues who was there a couple of weeks ago, did mention to me, that he was impressed by the pedestrian friendly streets in Tokyo (besides other things that fascinated him).   Toronto’s lowest ranking was in the cost of living index, in which it ranked #70, exactly in the m...
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
  A short list to keep Buyers and Sellers Happy.   To have a successful business in real estate we have to make sure Buyers and Sellers feel we have given them good service:   1.   We have to get to know our clients and build a professional relationship. Listen to them and also make sure to respond in a timely manner.   2.   We should explain the key points in the contracts and educate where necessary in simple terms.   3.   Stay connected with them until closing; and then keep the marketing connection for future business from them.   4.   Ask them for feedback and obtain testimonials.   5.   Learn from the feedback and improve the service we provide.  
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Interest rate competition?  - to help move the fence sitters.   Last week when the Bank of Canada cut the interest rate, the big banks were not in a rush to cut interest rates, but this week the talk is that the Royal Bank of Canada is the first of the big banks to drop its 5 year fixed rate to 2.84% and it is also cutting the rates for its other fixed rate products.   So, setting up the possibility for ‘interest rate competition’, between financial insititutions.   This gives impetus to buyers who are still sitting on the fence renting, and waiting to buy. Some renters just need a little more confidence in believing that they can take on a mortgage and manage their budget.  
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
Toronto, ON The Demographia International Housing Affordability Survey done annually lists the most expensive and least expensive housing markets in the metropolitan areas of the world.   In their 11th annual report that was just released in January 2015, Toronto, ON is listed as the 3rd most expensive real estate market in Canada, behind Vancouver and Victoria, BC.   Toronto: Median income: $73,900 Median household cost: $482,900   In the metropolitan areas of the world, it is important to maintain mobility and housing affordability. Mobility in the: 1.   The ability to travel in less than an hour from one part of the city to another, and, 2.   The ability to buy and sell real estate with low closing costs. -------------------------------------------------------------------------------...
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
BoC Breaking News.   The Bank of Canada made a surprise announcement today. For the first time since September 2010 the BoC cut its overnight lending rate by a quarter of a percentage point to ¾ percent.   This in turn will affect mortgage rates and probably the real estate market activity.   This cut for the first time in over four years comes about as a result of the economic risk being faced by the decline in oil prices. The sharp drop in oil prices is assumed to negatively impact growth and inflation in Canada.
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By Rosalind Nicholas, Toronto Condo Real Estate Agent, Toronto ON
(RE/MAX Condos Plus Corporation, Brokerage)
 Condo Sales in the last quarter of 2014   In the last quarter of 2014, 4975 condominium units were reported as sold on the Toronto MLS system. This is an 8.3% increase over the last quarter of 2013.   Although the number of re-sale units listed for sale grew in that 2014 time period and also added to by newly completed units that became available on the market; the demand for these units was much greater than the supply.   The condo segment of the real estate market has not shown any signs of slowing down in the Toronto, ON area. To the contrary, the increased demand and the competition between the buyers has also increased the prices by about 3.8% compared to the same period in 2013.     It will be interesting to see what happens in 2015, with even more new units becoming available on...
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By Anne Lok, Toronto Modern Real Estate
(Berkshire Hathaway HomeServices Toronto Realty)
Charmin Upper Beach 3 Bedrm Executive Rental OverviewMapsPhotosDescriptionNeighborhood $3,200 Residential Rental Main Features 3 Bedrooms1 Bathroom1 Partial Bathroom Location 2086 Gerrard St EastM4E 2B1Toronto, ONCanada ANNE LOK Homelife/Realty One Ltd. Brokerage416-922-5533anne@annelok.comhttp://www.annelok.com       Listed by: Homelife/Realty One Ltd., Brokerage Our recent listings Spacious Urban Condo 1 Bed plus Den Subscribe to our listing feed Nearby rentals
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