Monday, April 28, 2008

Explorer Condominium

Humber Bay Shore
58 Marine Parade Dr.

EXPLORER consists of two elegant 14-storey towers connected by a shared 4-storey podium housing the buildings amenities and lobby with 24-hour concierge services.

All suites have balconies, terraces or patios.

Elaborately landscaped courtyard features water accents and seating areas. The two-storey lobby with unobstructed lake and city views connects Marine Parade Drive with the passenger drop off area. Suite sizes range from just under 340 square feet to two-storey penthouses with over 3,042 square feet of living space. 267 units total.

Phase III of the Waterview development


Indoor swimming pool with whirlpool
Change rooms with saunas
Fitness centre with commercial grade equipment
Formal dining/meeting room overlooking the lake
Spa facility
Fully-equipped theatre for private screenings
Party room with caterer’s kitchen and wet bar
Billiard room, cyber lounge and much more

Key to numbering system; Units in East Tower are numbered 1- 7 Units in West Tower are number 8 to 15, as applied to units over the 5th floor.

PRICING: Call for latest prices and last sold information available

Additional Photos of interiors theatre, party rooms and exercise facilities.

If you would like more information on this building or to find out what is currently available for sale please Contact David Pylyp Sold data is available, you need to register to obtain this information with a correct email address and the report will be emailed to you instantly.
Please fill in the information below to receive the last 6 months sales.

Are you an Owner?
If you own a unit in this building and you would like to sell your condo, click here and get a free condo value analysis.

Friday, April 25, 2008

Windermere by the Lake

9 & 15 Windermere Ave, 93 The Queensway

Experience the exclusive and unique Lakeshore community of Windermere by the Lake!

Distinguished by a contemporary glass and steel tower, Windermere’s charming brick and stone townhomes and the well-manicured gardens surrounding them create an attractive contrast between old and new. There are 120 one, two and three-bedroom townhomes.

The 308 suites in the 28 storey tower are fashionably designed in a classic contemporary style with curved walls, hardwood flooring, and panoramic views. Windermere has made sure that every small detail is looked after, from the granite countertops and ceramic tiles in the kitchen to marble sinks in the master bathroom. The spacious rooms have 9’ ceilings and breathtaking floor-to-ceiling windows that afford residents a stunning city or lake view.
Located between the Queensway and Lakeshore, Windermere by the Lake is just 2 blocks from the beach and just minutes away from a 24-hour Sobeys and other convenient stores. Luxurious amenities include the Park Lounge and Lake Club Fitness facility. A member’s lounge equipped with a kitchen, workout area, virtual golf, indoor pool, and saunas make entertaining easy and fun.
Release Pricing
  • One Bedroom Suites 175,000 to $ 280,000* with Den
  • Two Bedroom Suites $300,000 to $400,000* with Den
  • Three Bedroom Suites $500,000 to $ 775,000

Maintenance: 40-cents/sq. ft.

Stacked Townhomes

  • 1 bedroom from $185,000 to $220,000
  • 2 bedroom from $200,000 to $285,000

Maintenance: 22-cents/sq. ft.
Traditional Townhomes: $393,900 for 1,626 sq. ft.

Maintenance: est. $135/month

Windermere by the Lake floorplans

If you would like more information on this building or to find out what is currently available for sale please Contact David Pylyp There are a limited number of units still available from the builder and sales have occurred posted registration.

Sold data is available for last four month period. You need to register to obtain this information.

Tuesday, April 22, 2008

Rising housing values and lack of inventory

Rising housing values and lack of inventory
challenge first-time buyers, says RE/MAX

“Homeownership continues to be primary objective”

While higher housing values and tight inventory levels have hampered home-buying activity so far this year, longer amortization periods and alternative housing types have offset the impact on most major markets across the country, according to a report released today by RE/MAX.

Despite a higher degree of frustration in the marketplace than in previous years, the RE/MAX Affordability Report found that first-time buyers, in particular, remain steadfast in their determination to purchase a home. In fact, entry-level purchasers are adjusting their expectations by sacrificing size, location, and even long-term financial freedom, to overcome challenges such as rising prices and serious supply issues. Innovative financing has become key to homeownership in today’s environment – with longer amortization periods gaining favour in 62 per cent of the major centres surveyed. Low or no down payments were popular with first-time buyers in 38 per cent of markets.

Doom and gloom reports coming from south of the border have yet to hinder overall momentum. First-time buyers are still leading the charge, taking advantage of every resource available to achieve homeownership. They’re determined to get into the market sooner rather than later. If suburban locations, smaller condominiums and town homes, or a little sweat equity is what it takes to get into the market, these purchasers are game.

Inventory levels, however, remain one of the foremost concerns facing purchasers across the country. A shortage of available entry-level product was identified as a major obstacle impeding buyer intentions in three-quarters of markets surveyed in the report.

First-time purchasers continue to play a pivotal role at both a local and national level. The impact they have on the housing market is significant, as they are the impetus for sales in the mid-to-upper price ranges. As long as this segment of the market remains healthy, the real estate outlook will continue to be favourable.

Although average price is the barometer for housing values in most major centres, first-time buyers looking to achieve homeownership consider starting prices a more meaningful gauge of affordability. Starting prices can be substantially lower than the market average.

The best value for the dollar continues to be found in the suburbs. For those unwilling to sacrifice on location, small condominium units in new developments and condominium conversions of rental buildings offer up the next best alternative. Condominium conversions in some of the country’s major centres can be picked up as low as $150,000 to $175,000.
RE/MAX Ontario Atlantic

Monday, April 21, 2008

How to match the home you buy to your pocketbook

So, you've decided to take the big leap and purchase your first home. Most of us have a "dream home" tucked away at the back of our minds -- complete with six bedrooms, two fireplaces and a panoramic view. Before setting off to view properties you likely can't buy.

Your "dream home" can easily become a nightmare when most of your money goes to pay the mortgage and there's little left over for anything else. Overextending yourself financially is the quickest way to destroy the excitement of home ownership and add stress to your life.

Smart home-buying means knowing what you can afford and being practical about it. Most first-time buyers, in particular, lack the funds needed to buy a home without assistance from a bank or financial institution. Buying a home means combining savings with money borrowed through a special arrangement called a mortgage.

To keep mortgage payments within their means, most first-time buyers purchase what is commonly known as a "starter home." A starter home is just that -- a way of getting started in long-term real estate investment.

To match the home you buy to your pocketbook you have to realistically assess your needs, determine what you can afford and, usually, lower your expectations. Begin by enlisting the services of a real estate representative. This individual will help you target your home ownership dreams and provide valuable information on mortgage options, interest rates and incentives, such as government programs, for first-time buyers.

In the meantime, here are some ways to determine how much you can afford.
Set a maximum price rangeTo determine your "affordability" price range, you must calculate two amounts: the amount of cash you can afford to put towards the purchase (down payment) and the maximum amount of loan (mortgage) you can comfortably carry. Typically, household expenses should not exceed 35 per cent of your gross income.

Put down as much as you canThe key to getting started for most first-time buyers is the initial down payment. This is the part of the purchase price you have to put down as cash. You may be able to buy a home for as little as five per cent down. But remember that the larger the down payment, the easier it will be to manage the other expenses (mortgage, utilities and property taxes).

An ideal down payment is 25 per cent of the purchase price. Keep some cash in reserve though for unexpected expenses related to a home purchase and typical expenses such as land transfer tax, legal fees and moving expenses.

Know how much to borrow
To establish your maximum mortgage limit, a financial institution will determine the monthly payment you can afford by calculating your debt-service ratio. List all your loans (car, personal loans, monthly credit card balances). The sum of these and your mortgage payment, including principal, interest and taxes, should not exceed about 40 per cent of your gross income. The mortgage payment and taxes should not exceed about 30 per cent of your gross income.
Understand interest ratesThe size of the mortgage you can arrange, based on payments you can afford, depends on interest rates. The lower the rates, the larger the possible mortgage and the more affordable home-buying will be.

However, there are other variables to consider: How open is the mortgage? Is it portable? Would prepayment be allowed? Discuss your mortgage options with David Pylyp, banker or financial advisor. Decide what's best for you, establish a limit and stick to it.

Look at other sources of funds
If you have been contributing regularly to a Registered Retirement Savings Plan (RRSP), you may have to look no further for your down payment. The federal government's RRSP Home Buyers' Plan allows eligible taxpayers to withdraw up to $20,000 per person ($40,000 per couple) tax free from their plan to buy a qualifying home. However, you have to pay back every year at least 1/15th of the amount taken out until it is all paid back, or there will be a tax penalty.

The Ontario Home Ownership Savings Plan (OHOSP) is a provincial program which provides tax credits on annual contributions to an Ontario resident earning less than $40,000 a year (or less than $80,000 per couple) who has never owned a home. While there is no limit to the amount you may deposit in an OHOSP, you can only receive tax credits on annual contributions of $2,000 ($4,000 per couple) or less. Depending on your annual income and the money you invest, you can earn up to $500 individually or $1,000 a couple in tax credits a year. The plan must be closed and a home purchased by the end of the seventh year.

The Canada Mortgage and Housing Corporation's (CHMC) five per cent down mortgage program is available to both first-time buyers and those who have already owned a home. This benefits buyers who can afford the monthly payments, but would have trouble saving for a larger down payment. Under the program, CMHC may insure the mortgage on your home (against default in payments) for up to 95 per cent of the lending value. An insurance premium of about 3.75 per cent of the mortgage loan is charged. This amount can be added to the mortgage or paid on a monthly basis.

Other sources of funds you can tap into for a down payment include savings and investments and loans or gifts from your family or relatives. If you're already a homeowner and moving up, you can use money that you get from the sale of your present home.

Is it time to "move up?"

Chances are when you bought your first home you were thinking of it as a "starter home" and dreamed of owning a larger and better home one day.

With today's mortgage rates in the lowest range they've been for almost 30 years, you might be pleasantly surprised that you can afford that "move up" house now. Using the equity you've built up in your current home, your carrying charges may not be much larger than what you've been used to paying. If you're curious to find out, ask David Pylyp to help you calculate carrying costs on a "move up" home.

There are many reasons why you may wish to have a larger home including a growing family, the desire to have more bedrooms so the kids can have their own space. Or maybe you want a larger yard, a garage or a home with a private driveway. Whatever your reasons, moving up to a new home can be very satisfying.

It's also a smart move because the equity in your home will continue to grow and the value of a bigger and better home will be ultimately greater over time. As well, the pride of ownership in a bigger house will probably be even greater than you had when you bought your first home.
When you decide that moving up is the way to go, be sure to enlist the services of a REALTOR®. Your options can be confusing at times, but a REALTOR® can help you make the right choices.
David Pylyp will help you determine the market value of your current home and therefore the price range you should be considering in a move up home. You'll need to determine where you want to move. Do you want to stay in the same neighbourhood or move on? There are almost as many individual choices on location as there are homes. David Pylyp, a REALTOR® is skilled and knowledgeable in all aspects of a real estate transaction and can ensure you make a smooth move.

Moving up to meet your changing lifestyle and needs can be an exhilarating experience. Your home is probably the best investment you'll ever make so why not take advantage of current market conditions and enhance your investment today. OREA

Call David Pylyp today and let's get started.

Creating Curb Appeal

They say you can't judge a book by its cover. But when it comes to houses, the exterior can be just as important as the interior if selling or buying.

When selling, it is the outside, or the home's curb appeal that often determines whether the inside is ever seen. How a house 'shows' from the street can tell a potential buyer a lot about what it may be like inside. Even if the inside is the sparkling, charming, structurally sound dream home they've been searching for, a buyer is not going to forget a cracked driveway, fallen shutters, overgrown grass and flower beds.

That's why most REALTORS® recommend a house not be seen for the first time at night. If you have no choice but to view homes at night, always be sure to drive past them during the daytime before making any final decisions.

For sellers, there are many ways to enhance the exterior of a home to achieve the curb appeal necessary to attract prospective buyers. Start by taking a close, objective look at your home from the curb. Be sure to view it from different angles. Ask friends and neighbors for their unbiased opinions. What are the appealing features? What's not so appealing? What can you do to improve its appearance?

Are the shrubs untrimmed? Are there broken doors and windows, loose screens and railings? Does the exterior trim, or entire surface, need a paint job?

The interior may be clean, without a leaky faucet, cracked floor or loose door hinge in sight. But if the exterior roof, gutter, walls, driveway, garage and yard look dirty and untidy, chances are you're not going to get a lot of potential buyers knocking at the door.
Creating curb appeal is making your home inviting from the outside -- where first impressions begin. This doesn't mean spending a great deal of money remodeling and renovating. Adding a new front verandah might add a lot of curb appeal, but so will a couple of wicker chairs and potted flowers by the front door - at a lot less cost.

Here are some more tips for making the outside of your home attractive and inviting:
Clean up the yardMow the lawn, trim the hedges, weed the flower beds, get rid of dead trees and shrubs; get rid of any broken lawn furniture; shovel the walk and driveway in winter; rake the yard in the fall.

Repair any problemsIf the roof is damaged, repair it. Also repair any doors and windows that have loose hinges or other damage; fix storm doors and window screens; caulk window exteriors; clean and repair sidings and other structural flaws.

Eliminate clutterIf you have yard and construction debris piled up along the side of the house, or elsewhere, get rid of it. The exterior of your home should be as uncluttered in appearance as the interior. This includes cleaning out the garage - a major breeder of clutter. Be ruthless. If you haven't used something in a year, give it to charity or recycle it.

Give siding a fresh new lookCleaning the exterior surface is all your home may need for a fresh new face. Before rushing to paint siding, try washing it. For painted wood siding and aluminum siding, use a solution of one cup strong detergent and one quart chlorine bleach in three gallons of water. Be sure to wear rubber gloves, goggles and other protective garments. Work from the bottom up and rinse thoroughly.

To spruce up vinyl siding, hose it down, sponge it with a mild liquid detergent and rinse.
Use paint to brighten, re-proportion exteriorA paint job can do wonders for the exterior of a home. A low house can look more graceful and tall from the curb by emphasizing its vertical features. Paint elements such as doors, shutters and corner trim in a color that contrasts with the siding material or color. On a high home, emphasize horizontal by using a contrasting paint color on window sills and fascia boards. You can also make a tall house look lower by painting it a dark color, provided that the roof is dark too. Conversely, a light color will make a home look larger.

Co-ordinate the exterior 'look'The more co-ordinated your house looks from the outside, the more appealing it will be. Co-ordinate the 'look' of your home by painting the garage, tool shed, playhouse and other outdoor structures with the same color schemes as the house. If your house is a mixture of conflicting textures - vertical siding, shingles and brick, for instance - try painting them all the same color, or in two related shades of the same color, to create a harmonious look. Dark tones work best when working with conflicting textures.

Use flower powerWell-placed flowers, trees and shrubs can really make the outside of a home look inviting. Not only does attractive landscaping invite buyers, it can increase the value of a home. Even without major landscaping, flowers can make a yard look colorful and pleasant. Plant them in garden beds, hang them from railings and porch ceilings, add flower boxes to window sills. There is no limit to the power of flowers.

At night, highlight garden features with spotlights and floodlights. Well-lit paths and entrances promote safety, discourage burglars and are an added feature to any home. A pretty wreath on the door and a welcome mat will finish things off.

Spring out of Hibernation

Spring brings a sense of excitement and anticipation to those tired of being cooped up indoors for the long winter months. This is especially true for gardeners - spring means it's time to get growing again.

For many people, just the act of digging in the soil can be very uplifting. But equally satisfying is the beauty a well-kept garden can add to your home. If you are thinking of selling your home, landscaping can actually increase your home's "curb appeal" and "saleability."

Even if you don't consider yourself a green thumb, you can enjoy the art of adding colour and life to your garden. And, there are plenty of places to turn for tips and advice. Your local library or bookstore will have a variety of books and magazines to help you and the Internet has an abundance of gardening information as well.

Where to begin
You may be looking out the window at a lot of dead plants, leaves and debris leftover from the winter. The first job for most people will be a thorough clean up of your yard, planters and flowerbeds.

Create a plan
Take care to plan your garden before you start buying flowers and shrubs. Because garden centers are so busy at this time of year, it's a good idea to bring along a sketch of what you want your garden to look like. Consider sunny and shady areas of your yard and decide where you want flowers, shrubs and vegetables to grow. Also be sure to think about a colour scheme, varying heights and widths of plants as well as blooming schedules. You don't want the whole show to take place in early spring or summer.

Your local garden center can help you choose a combination of perennials, shrubs and annuals that will provide continuous colour throughout the entire growing season and into the fall. Many will even provide landscape design services free of charge provided you purchase the plants from them.

When to start
Once you start seeing tulips and other spring bulbs come into bloom, the soil is usually warm enough to start digging. The ground should also be thawed enough to divide and move perennial flowers and herbs, plant shrubs and trees and to start rejuvenating your lawn. It's also a good time to prune bushes.

Spring gardening tips
Here's a few more tips to get your garden growing this spring - check with your local garden center for more advice:

Prepare your flower beds by deeply digging the soil and adding composted manure. Loosen heavy clay soil by adding peat moss.
Plant perennials now and enjoy them for years to come. Pay attention to different blooming times and plan for a sequence of color all season long.
Tidy up your spring bulbs by removing faded flowers. Don't cut down the leaves of your spring bulbs until the foliage turns brown. Bulbs need their leaves to replenish food reserves for next year's flowers.
Plant summer flowering bulbs such as Freesia, Gladiolus, Dahlias, Lilies and Anemonies.
Plant annuals and vegetables once all risk of frost has passed.
Your garden can actually become an extension of your living space - outdoors. A well-planned and maintained landscape will beautify your home and provide an oasis for the senses.


Sunday, April 20, 2008

Assistive Devices Program - Help for Seniors


The Assistive Devices Program (ADP) is administered by the Operational Support Branch of the Ontario Ministry of Health and Long-Term Care.

The objective of ADP is to financially assist Ontario residents with long term physical disabilities to obtain basic, competitively priced, personalized assistive devices appropriate for the individual's needs and essential for independent living.

Devices covered by the program are intended to give people increased independence and control over their lives. They may allow them to avoid costly institutional settings and remain in a community living arrangement.

Equipment Funded by ADP

ADP covers over 8,000 separate pieces of equipment or supplies in the following categories: prostheses; wheelchairs/mobility aids and specialized seating systems; ostomy, and enteral feeding supplies; needles and syringes for insulin-dependent seniors; monitors and test strips for insulin-dependent diabetics (through agreement with the Canadian Diabetes Association); hearing aids; respiratory equipment; orthoses (braces, garments and pumps); visual and communication aids; oxygen and oxygen delivery equipment, such as concentrators, cylinders, liquid systems and related supplies, such as masks and tubing.


Any Ontario resident who has a valid Ontario Health card issued in their name and has a physical disability of six months or longer. Equipment cannot be required exclusively for sports, work or school. ADP does not pay for equipment available under the Workplace Safety and Insurance Board or to Group “A” veterans for their pensioned benefits.. There are specific eligibility criteria which apply to each device category.

Accessing ADP

Initial access is often through a medical specialist or general practitioner who provides a diagnosis. In most device categories, an authorizer assesses the specific needs of the person and prescribes appropriate equipment or supplies. Finally, a vendor sells the equipment or supplies to the client.

In some device categories, such as adult hearing aids or prosthetic devices, the assessor is also the vendor.


Most devices must be authorized by a qualified health care professional registered with the program. Registered authorizers work in hospitals, home care agencies or private practice.


The program will only help pay for equipment that is purchased from vendors registered with the Assistive Devices Program.

Financial Assistance

ADP pays up to 75 per cent of the cost of equipment, such as artificial limbs, orthopaedic braces, wheelchairs and breathing aids. For others, such as hearing aids, the ADP contributes a fixed amount. With regard to ostomy supplies, breast prostheses and needles and syringes for seniors, the ADP pays a grant directly to the person. The Home Oxygen Program under ADP, pays 100 per cent of the ADP price for oxygen and related equipment for seniors 65 years of age or older and for individuals 64 years of age or younger who are on social assistance, residing in a long-term care facility or who are receiving professional services through a Community Care and Access Centre, and 75 per cent of the ADP price for all others.

In most cases, the client pays a share of the cost at time of purchase and the vendor bills ADP the balance. For ADP supply categories where grants are paid, the client pays 100 per cent of the cost to the vendor.

There are many sources of funding for the client's share of the cost including :
clients voluntary/charitable organizations e.g. March of Dimes, Easter Seals, Kiwanis social assistance, DVA insurance companies relatives/friends. November 2002ISBN #000-0000

Call the Assistive Devices Program at 1-800-268-6021(Toll-free in Ontario only)In Toronto, call 416-327-8804TTY 1-800-387-5559

Saturday, April 19, 2008

GTA resale housing market down but still healthy

TORONTO, April 17, 2008 -- The Greater Toronto Area resale housing market saw 3,955 homes change hands in the first half of April, down five per cent from the same time period last year, Toronto Real Estate Board President Maureen O’Neill announced today.
“The first half of April brought sales activity within five per cent of mid-April 2007,” said Ms. O’Neill.
In the City of Toronto sales are down 11 per cent compared to a year ago, with 1,514 transactions taking place. In the 905 suburbs, sales are down just over one per cent to 2,441 for mid-month April 2008 from 2,477 sales midmonth April 2007.
Throughout the GTA prices have risen seven per cent compared to the same timeframe last year, to an average of $399,117. In the City of Toronto the average stands at $454,211 up 10 per cent over mid-April 2007. The 905 Region has seen a six per cent increase compared to a year ago, with a current average price of $364,939.
The number of listings on the market is one per cent greater than last year with current inventory sitting at 22,985.
This indicates that inventory is on the rise. The positive news is homeowners are selling their homes with an average of 28 Days on Market compared to 30 a year ago. The slight increase in inventory levels and house prices are encouraging factors.
A number of GTA neighbourhoods showed strong sales activity during the first half of this month.
Willowdale (C07) saw a 75 per cent overall increase in transactions, driven by strong, detached, condo-apartment, and condo-townhouse sales.
In Vaughan/Thornhill (N02), transactions increased by 53 per cent compared to mid-April 2007, as a result of strong detached home sales.
Strong detached home sales also drove Brampton East (W24) to 37 per cent compared to the same timeframe a year ago.
In Riverdale (E01) transactions are up 10 per cent, also as a result of strong detached home sales.
“We’re also seeing sellers achieve on average 99 per cent of their asking price, which is one per cent higher than a year ago,” said Ms. O’Neill. “April’s numbers point to a stable, healthy market for the Greater Toronto Area this spring. However TREB still remains wary of the Land Transfer Tax in Toronto.”

Tuesday, April 15, 2008

Selling your home in west Toronto ?

Toronto Spring Market & Low Inventory – Houses Needed for Sale.

The Spring market is upon us, and with low inventory in many hot areas of the City, a strong economy, and interest rates at historic lows (& coming down even lower!) .. this is The ideal time to Sell Your HOME!

There are motivated, financially qualified Buyers out looking to purchase, and in many neighbourhoods (Alderwood, Mimico, and the Humber Shores condominiums, among others) there is a shortage of quality inventory.

This means that when a quality property comes on the market it will be in Great Demand! If you’ve been thinking about Selling, This is the ideal time to Sell!
I would be happy to meet with you to discuss the market value of your home, and outline how I use a multi-tired advertising and marketing campaign to get your house SOLD Quickly, and for TOP DOLLAR!!

Contact me to arrange a no obligation meeting. April and May are the ideal months to put your house on the market, and I can help you create great impact and exposure, ... having Buyers eager to purchase your home.

Should you have Buyer's Agency?

Do you need Buyer's Agency?
The simple answer to this question is yes.
The natural tendency for Buyers, when they see an attractive property advertised, is to contact the listing agent directly.
Seems to make sense because, presumably, that agent knows the most about that property. Bad idea!
The listing agent is contractually obligated to obtain the best price and terms for Seller. He or she must not divulge any weakness in the Seller's negotiating position. A Buyer's agent, on the other hand, can and should use every legal and ethical device to obtain the most favorable outcome for the Buyer through every step in the property buying process.Sellers employ their own agents to protect and promote their interests.
Why shouldn't Buyers have the same option? They should.

Buyer representation does not cost the Buyer any additional expense and usually saves a sizable chunk of money and time.
  • Avoids conflict of interest.
  • Agent owes fiduciary duties to Buyer.
  • Agent has access to all properties on the market.
  • Agent thoroughly researches property defects and potential and advise the Buyer even if it means pointing out reasons not to buy.
  • Agent makes an affirmative effort to determine the Seller's motivation and weaknesses and share this information with you to assist in negotiating on the Buyer's behalf.
  • Agent negotiates the best price and terms for Buyer.
  • Agent keeps all information about the Buyer confidential, including the Buyer's ability or willingness to pay more for the property than they are offering as well as the Buyer's motivation for buying.
  • Agent promotes and protects Buyer interest at all times through the entire process.
  • Agent arranges property showings and can assist with financing, arranging home inspection, finding a lawyer.
  • No additional cost to Buyer.
  • Buyer often saves a lot of money and time

Friday, April 4, 2008

March Sales Moderate

April 3, 2008 -- Low inventory levels kept sales brisk but well off record levels, TREB President Maureen O'Neill announced today.

"With 6,631 transactions recorded during March, the overall Greater Toronto Area resale market was down 22 per cent from the 8,518 sales of March 2007. Since inventory, at 20,533 listings, fell six per cent between these two time periods, a portion of this result can be attributed to a lack of suitable product. And this lack of product was at least partially caused by the severe winter weather that kept both buyers and sellers on the fence during the first half of the month."
Sales were not evenly distributed across the Greater Toronto Area. In the City of Toronto (416 area code), they decreased 27 per cent to 2,527 from last March. However, the 905 suburbs saw only an 18 per cent decline, to 4,104 sales. Overall, average prices rose four per cent in the GTA to $380,338 over March of 2007. Within the City of Toronto proper, however, the average, at $404,361, increased only two per cent over the $394,199 recorded during the same period last year. Furthermore, City of Toronto districts bordering the 905 averaged $347,882, up less than one per cent from the same period last year.

Breaking down the total, 2,545 sales were reported in TREB’s 28 West districts and averaged $360,524; 1,114 sales were reported in the 14 Central districts and averaged $481,115; 1,390 sales were reported in the 23 North districts and averaged $424,742; and 1,582 sales were reported in TREB’s 21 East districts and averaged $302,235.

If... we had not had the cold or the Miller Tax what might have been?

Balance of Report Available here

Wednesday, April 2, 2008

7 Deadly Homes Sale Sins

Selling a home expediently and profitably takes far more than faith. It takes keen insight. Successful real estate ventures don't happen "on a wing and a prayer," but rather by knowing what specific pitfalls to avoid in working toward closing a heavenly deal.

The following list of "7 Deadly Home Sale Sins" details key offenses sellers should avoid at all costs to get on the path toward the promise land of profitability:

7 Deadly Home Sale Sins

Pride. Buying a house is always an emotional and difficult decision. As a result, resist the urge to "hard sell" and excessively boast about your property. Instead allow prospective buyers to comfortably examine your home - without you present if at all possible. If you're here while a prospective buyer is inspecting, don't try haggling or forcefully selling based on your subjective views of how great your home is. Instead, be friendly and hospitable and largely out of sight. Pointing out any unnoticed enhancements and amenities is fine. Being receptive to questions is advisable, but this is not the time for negotiation and salesmanship.

Envy. Don't be jealous of what the other homes in the neighbourhood sold for, as the intention to fare better financially with your real estate transaction than others have realized in your community can - and will - negatively impact your judgment and objectivity as it relates to YOUR home sale. As most markets have declined over the past couple of years, it is very common for sellers to covet what others have garnered in the past. Current market conditions play a large role in setting the sale price, so rather than review sales over previous months and years it's wise to consider the currently available inventory of homes comparable to yours relative to pricing, days on market and other such indicators.

Anger. If an offer comes in lower - way lower - than expected, stay cool and consider the opportunity for what it's worth. Don't let a low offer insult and anger you to the extent that your objectivity is impaired and you render an emotion-driven response. Indeed, don't let a bout of righteousness cloud your judgment in considering all of your options. Many deals come together that, at first, seem unlikely to have a chance. When that low offer comes in, appreciate that someone has thrown their hat into the ring. Continue sending counter offers until both you and the prospective buyer find some kind of middle ground - or you feel it's time to fish or cut bait.

Greed. Every seller naturally wants to get the most money for his or her product. The most common mistake that causes sellers to get less than they hope for, however, is listing too high. Listings reach the greatest proportion of potential buyers shortly after they reach the market. If a property is dismissed as being overpriced early on, it can result in later price reductions, which reflect poorly on the listing. Overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price than they likely would have had they been priced properly in the first place.

Sloth. Simply put, complacency and laziness have no place whatsoever in the high stakes game of real estate. When attempting to sell your home to prospective buyers, ensure your home looks as clean, tidy and generally pleasant as possible. Make sure everything looks presentable at all times so that you're ready for last-minute showings. Remove as many personal possessions as you can from around the home, including photographs, so the prospects can better envision themselves living in the space. A poorly kept home, or one with too much clutter, will make it dramatically more difficult for buyers to become emotionally interested in your property.

Gluttony. When selling a home, resist the urge to be penny-wise and pound-foolish. You may need to spend some money in order for the property to realize its full sales revenue potential. Even before you list your home, hire professionals to inspect the roof, pool and other structural elements for termites (yes we do have neighbourhoods in Toronto with Termites) and other important buyer considerations. Make ALL repairs before you list the house on the market. Also, don't forget to stage the home. Plant fresh flowers, apply a coat of new paint, lay new carpet, add furnishings and decor items. Today's buyer is discriminating and has many choices - don't give them a reason to have concerns. Make the best first impression possible.

Lust. An overly intense desire to secure a specific, non-negotiable sale price can - and will - adversely impact your home sale. Sellers should always be willing to negotiate price with a prospective buyer, and resist the urge to improve their profit margin by cutting corners or generally overpricing. Without such price flexibility and a competitively priced listing, the house will languish too many days on the market, which puts it at a strategic disadvantage and may ultimately force the home to sell for a lower price than it would have otherwise.

Let me help you get the most money for your home in the least amount of time with the least amount of inconvenience. Listing Commissions are negotiable.