Monday, November 30, 2009

Improvement of the West Don Lands

In a recent blog posting I asked if Garth Hated Toronto or just Realtors . I am flattered that Garth noticed a realtor's blog

An enthusiastic supporter added this comment to my blog; Why would Garth's negativity on buying a poorly designed 349 sq. ft. coffin in the middle of some highway ramps lead you to believe that he must hate Toronto or realtors? Would you tell your kids to buy trash like that for $180K?

On the heels of this exchange about employment for Toronto during a recession, infill housing for residential use, Housing within the city core to promote urban renewal and improved transit this item was released today from a gathering of rather learned people.

Governments of Canada, Ontario and Toronto Celebrate New Affordable Housing in West Don Lands

TORONTO, Nov. 29 /CNW/ - Funding of almost $23 million for 218 new affordable rental housing units for low-income families, seniors and singles was announced today in Toronto.

Lois Brown, Member of Parliament for Newmarket-Aurora, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); and George Smitherman, Member of Provincial Parliament for Toronto Centre, on behalf of the Honourable Jim Watson, Ontario's Minister of Municipal Affairs and Housing; along with City of Toronto Councillor Pam McConnell, Ward 28 Toronto Centre-Rosedale, on behalf of Mayor David Miller and City Council, and David Mitchell, Chair, Toronto Community Housing, made the announcement.

"Our government is helping Canadians during these tough economic times and giving hope to seniors, families and individuals who need quality, affordable housing that meets their needs," said MP Brown. This investment is possible through our government's Economic Action Plan, that stimulates the economy and creates jobs during this global recession For Ontario, this includes a $1.2 billion joint investment."

"This project represents our government's commitment to ensuring residents in Toronto and throughout Ontario have access to affordable housing," said MPP George Smitherman. "It will not only add significant support to the Province's efforts to reduce poverty, but will also mean the creation of hundreds of jobs for our workers."

"The West Don Lands neighbourhood will be a wonderful addition to our city. This community will be a beautiful, sustainable, and welcoming place for everyone to live, work, and play. I am very pleased that the City of Toronto contributed $4.3 million in waived development fees and charges and property tax exemptions to help create affordable housing for seniors and families." said Councillor McConnell, vice-chair of the Affordable Housing Committee.

"There remains a vast need for more affordable housing and Toronto Community Housing applauds the three levels of government for responding to this need," said Toronto Community Housing chair David Mitchell. "It's a great opportunity to help us achieve our mandate of providing quality housing for low-and moderate-income singles, families and seniors in Toronto."

The Government of Canada wants to ensure that Canadians on fixed incomes can live with independence and dignity and remain in their communities, close to family and friends. Canada's Economic Action Plan provides $400 million, over two years, to build new rental housing for low-income seniors. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure.

Canada's Economic Action Plan builds on the Government of Canada's commitment in 2008 of more than $1.9 billion, over the next five years, to improve and build new affordable housing and help the homeless.

Today's announcement celebrates funding for 218 units in two projects located at King and River Streets that will provide a total of 243 units of affordable rental housing for low-income families, singles and seniors. These homes are being developed by Toronto Community Housing and are part of the West Don Lands revitalization. The City of Toronto is increasing the number of affordable homes to 243 from 218 by directing an additional $7.49 million to this development from the provincial Developing Opportunities for Ontario Renters (DOOR) funding program, made possible through the federal Housing Trust.

Ontario is moving quickly to implement this additional funding. The province has already approved more than $172 million for construction-ready projects, which will improve access to affordable housing for low-income families, seniors and persons with disabilities across the province. It will also create jobs and strengthen local economies. To find out more about affordable housing in Ontario, visit

No opinion was made about whether you should buy or not buy. No one has a gun to your head. Do or Do NOT. The final answer is that Toronto is a net destination for immigration, education, jobs and a safe haven for investment dollars. The market value is the market value. It is land, cost of construction, lot Levies, taxes, permits, materials, design, marketing and yes, the ever evil profit.

Consumers today realize that buying has always been a good hedge against inflation, and will continue to do so. You cannot live inside a mutual fund.

Here is the ultimate irony. If no one bought what they built, They wouldn't build it.

If you do not want the west Don Lands, I have readily available product on Humber Bay Shore at California Condos in Mystic Pointe

Lets recap, Greening the environment, providing low income housing, increased employment, Improved city density (population growth) Please show me where that is wrong?

Saturday, November 28, 2009

To slander everything Toronto

Garth Turner in his blog the Greater Fool "Hot on the heels of realtors bashing each other and throwing elbows over a new condo development in mid-town Toronto comes more evidence dark forces have taken over the GTA". Have a look for yourself about the remarks.

The comment that I found interesting is here;

It’s called River City. The ‘river’ in question is a channelized concrete ditch full of dead water called the Don. And in a crook of roadway, where the six-lane divided Don Valley Parkway leaps skyward to join the elevated Gardiner Expressway, on acres which sat for decades as an industrial wasteland, will rise River City. I will let you imagine.

One feature of this oasis of five buildings and 6,000 suites to be built over the next three years, is a four-acre park. But not just any park – this is the world’s first park built under highway ramps. Yes, under the Richmond-Adelaide ramps, which are choked with rush hour traffic and form one of the main arteries into The Big Smoke, will be bucolic bocci courts, children’s playgrounds and all the pigeons you’ll ever want to meet.

Now, I believe in Urban renewal. I believe in Rapid Transit. I am a proponent of neighbourhood and community. Population shifts in Canada and net migration to the Golden Horseshoe make us a destination. Endless suburbs to the east, west and north are proving to be a transit and gridlock fiasco.

So we need to revisit the Cherry Street side of the city, and the revitalization of the Don River wetlands. To that point I had done some reading, as a curious realtor, as to what might be.

Lower Don Lands Wins International Best Futuristic Design Award

Lower Don Lands plans have received the 'Best Futuristic Design Award’ in one of the world’s leading sustainability focused development industry design competitions. The Keating Channel Precinct, the Lower Don Lands’ first planned community, was recognized at the Building Exchange (BEX) Conference. The fifth annual BEX International Awards, held in partnership with the World Green Building Council, promote global standards for environmentally sound buildings, large-scale developments and infrastructure. Judged by a panel of leading experts, the awards celebrate sustainability, innovation, efficiency and collaboration in the built environment and demonstrate consideration of the issues surrounding climate change, sustainable communities and future legacies.

The Lower Don Lands is also the subject of another recent video created by Waterfront Toronto. The video, which is available for viewing on YouTube, features a flip animation that outlines the plans for the Lower Don Lands. View the video.

Winning an Award? This is a vastly different perspective than I read from the Greater Fool. Toronto is a growing and congested city that needs to deal with real issues of urban planning, hydro generation, How will we move Millions of people daily to work and back?, water cleanliness and quality of life of the residents.

This site on the Lower Don Lands could have been the Olympic Village had we won the bid. What would the fool have said then, Toronto's economy doesn't need tourist dollars? While we obviously read the same news sources, maybe I am just a glass half full person.

Please read Garth's Blog. But Please also read the comments and rhetoric. Make an informed decision. You are welcome to comment here also/

Friday, November 27, 2009

Buy Five and get 3 for FREE

If only that concept worked with Real Estate Investments in Toronto.

The property captioned on the video is a 10 unit residential and commercial mixed use property in close proximity to the (new and improved TTC ) Kipling Subway station. Superb commercial location for a few small stores and or business' that want extra eye's on their sign.

The property if compared to a row attached townhouse with condo fees of the same size would be selling for approximately $600.0 thousand. Three have a wooden patio deck back yard, Two have a rooftop Terrace. (Times 5 Units) . In addition there are 3 completely legal and NEW basement apartments that are one and two bedroom units. PLUS the two commercial units on the Bloor Street facade.

Buy Five you get three for free. Plus the additional cost of the two commercial units, places this Building at a replacement cost of $3.5 Million as the asking price.

So here we are; The Investment Handbook says that good invest is a building that has a CAP Rate of 6 0r 6.5% The Good Book never explained Interest Rates at the 2.5% annual APR or the Landlord Tenant Tribunal with rent limitation annually of 1.2%

The Good Book is also mute on Toronto Land Transfer Tax and GST.

Builders need to build and be permitted to market their finished products. Landlords need to be able to buy renovated or new product for rental purposes that meet market rents.

Do you have a spare million floating around that could earn EBIT 180.0K then give me a call. With a 1.0MM investment the return on investment is 18% or you could keep pushing money into the mattress and hope the kids don't throw it in the landfill. OH, That happened Right?
Scroll Down for Financial Proforma

Thursday, November 26, 2009

Housing is Hot But getting expensive

Ontario's housing market bounces back but homeownership gets less affordable, says RBC Economics

TORONTO, Nov. 25 /CNW/ - Ontario's housing market has recovered its past strength with rising home prices contributing to a decline in affordability for the first time since early 2008, according to the latest third quarter housing report released today by RBC Economics Research.

"Ontario's housing market has experienced a remarkable turnaround with price levels returning to and, in some cases, surpassing earlier peaks," said Robert Hogue, senior economist, RBC. "The downside is that rising property values and a modest increase in mortgage rates have negatively affected affordability, after significant improvement over the past year."

Hogue noted that housing affordability improved considerably throughout most of 2008 and the first half of 2009, which has caused many home buyers in Ontario to jump into the market and drive up property values. The RBC Housing Affordability measure for Ontario captures the proportion of pre-tax household income needed to service the costs of owning a home.

In the Toronto area, full confidence in the housing market and a renewed sense of urgency are now fuelling buyers to purchase homes. This has significantly bolstered resale activity, tightened inventories of homes offered for sale and pushed prices higher to near-record levels. Affordability levels have suffered as a result, with RBC's affordability measures for the Greater Toronto area (GTA) rising between 1.0 and 1.9 per cent in the third quarter.

"Affordability levels in the GTA still remain close to long-term averages, suggesting that this real estate rally is likely to continue in the near-term," added Hogue.

David Pylyp Lets read that short paragraph again.

"Affordability levels in the GTA still remain close to long-term averages, suggesting that this real estate rally is likely to continue in the near-term," added Hogue.

Now here is something all the armchair critics can dig in with, all the Bubble heads who are screaming the sky is falling can now refute the conspiracy of the Royal Bank in collusion with CMHC lend money to people without any expectation of receiving interest payments because everyone will default on their mortgages and walk away. Family's need homes.

Instilling furor to a captive audience makes you an evangelist. It does not necessarily make you an expert. I will defer to the Royal Bank and an educated economist over the media's talking heads. I have no future book deal to sell.

My Newest adventures in Mystic Point. I do sell condo and houses in West Toronto

Tuesday, November 24, 2009

Are you taxed enought yet?

With your support REALTORS® have sent more than 14,000 emails to Members of Provincial Parliament (MPPs) opposing a harmonized sales tax (HST). MPPs have heard from REALTORS® and now we need your help to make consumers’ voices heard at Queen’s Park.

Last week, the Government of Ontario formally launched its latest assault on homeowners, purchasers and sellers with the introduction of Bill 218, the Ontario Tax Plan for More Jobs and Growth Act, 2009 which implements the HST. Every MPP has heard REALTOR® opposition loud and clear. Now they need to hear from consumers. That's you!

Please circulate the below email message to all of your clients, customers, friends and family and encourage them to email their MPPs to stop the HST.

OREA Government Relations

Subject: Stop the HST – Cost of buying, owning and selling a home to go up by 8%

Last week, the Government of Ontario formally launched its latest assault on homeowners, purchasers and sellers with the introduction of legislation to harmonize the provincial sales tax and goods and services tax.

Homebuyers and sellers will pay 8 per cent more on legal fees, appraisals, real estate commissions, home inspection fees, and moving costs, adding about $1,500 in new taxes to the average residential real estate transaction in Ontario.

For homeowners the HST will also add hundreds of dollars in additional tax on utility bills (gas, electricity and home heating fuel), on home renovation labour, the cost of lawn upkeep or landscaping and the cost of snow removal.

Please help Ontario REALTORS® fight this tax. In less than 30 seconds you can send an email to your MPP asking them to vote against sales tax harmonization legislation, by clicking here:

If you don't get involved You don't get to complain.

Add your voice! Make a comment!

Monday, November 23, 2009

California Condos on Humber Bay Shore

Soon, you can ride the wave of excitement in south Etobicoke, when Camrost-Felcorp introduces California Condos – the newest phase at the company’s phenomenally successful, established, 16-acre, master-planned community, Mystic Pointe.

Designed to be as fresh and sophisticated as its name, this hip and urban building will be situated close to the ­waterfront and all that lifestyle has to offer. California Condos residents will live just 10 minutes from downtown in a setting that will make breathtaking city and lake views part of their everyday life.

The condominium will be situated just steps from the Humber Bay Shores waterfront, where residents can bicycle or stroll along the Martin Goodman Trail. Local amenities include a 24-hour Sobeys, Ikea, Sherway Gardens, fabulous restaurants, Humber Bay Park and other area parks, schools and libraries. Access to the Gardiner Expressway is convenient and the QEW, Hwy. 427, the Mimico GO station and TTC are all close by.

For those looking for seemingly endless amenities, the top two floors at California Condos are reserved for the highest beach club in the world. Suite owners will revel in this Venice Beach-inspired complex designed with an eclectic combination of classic and Bohemian ­surroundings. Click here for California Promo Video

The top two floors will cater exclusively to residents, 12,000 sq. ft. of recreational space including an infinity lap pool and whirlpool with a bar that overlooks the city. Talk about “raising the bar” at California Condos! This space also includes cardio theatre, sky gym, an aerobics/yoga studio and a private cabana for spa treatment. Taking the concept of cool to a whole new level, residents will be welcomed to the beach club by a breath-taking view through a wall of glass overlooking the sundeck. On warm summer evenings, residents will enjoy viewing their favourite blockbusters when the sundeck is transformed into a theatre where movies will show on the wall! One floor below, the spacious sky lounge with cappuccino bar shares a catering kitchen with the private dining room, sure to be a hit with the sophisticated urbanites who will call California Condos “home.” California Condos will share with Tides and iLoft residents, the 14,000-sq.-ft Sports and Entertainment Complex located on the fourth-floor podium, and features an outdoor pool, jogging track, two squash courts, indoor theatre room, billiards, saunas and much, much more!

An innovative building, California Condos will soar 32 storeys and feature suites ranging from 580 to over 2100 sq. ft. All suites in this remarkable building will have a balcony or terrace, so owners can make the most of scintillating lake and city views.? Nine- and 10-ft. ceilings, kitchens including a spectacular over-the-island hood fan, and stainless steel appliances are just some of the standard suite features highlighting this incredible building.

Mystic Pointe is one of Toronto’s most coveted condominium addresses. This established community epitomizes Camrost-Felcorp’s leading-edge design and forward thinking when it comes to creating communities that transcend the ordinary to offer something unique in the marketplace. For more than three decades the company has led the building industry in creating many of Toronto’s distinctive and memorable residential communities that are immediately identifiable by Camrost-Felcorp’s signature of excellence. Each unique community is built on a foundation of commitment to craftsmanship, original design, a pre-eminent address, and a vision to create a look and style that is consistently ahead of its time.

Mystic Pointe Key Map for Building Placement California will be located between the iLofts and Tides, sharing the recreation facilities. Promo Video

5% down deals are possible with remaining inventory. Construction has started. Occupancy is proposed for 2011. Call for special pricing and details of remaining units. David Pylyp 647 218 2414 or email

A huge HAT tip to Palm Leaf Productions and Camrost Felcorp for their assistance. Thank you.

OOPS But we had a Home Inspector

Court ruling rattles home inspectors

The home inspection industry in Canada may never be the same again following the decision of the British Columbia Supreme Court last week in the case of Salgado v. Toth*.

Back in September 2006, Manuel Salgado and Nora Calcaneo signed an agreement to buy a house in North Vancouver for $1,095,000. The contract was conditional on financing and a home inspection.

At the recommendation of their real estate agent, the buyers hired Imre Toth and his company HomePro Inspections to prepare a home inspection report for the property. Toth inspected the interior of the house, then spent another 30 minutes examining the roof and the rest of the exterior.

The contract Toth signed with the buyers stated that the inspection and report could not be used as a warranty of the condition of the house, and in the event the inspector was found liable for negligence or breach of contract, his liability would be limited to the $450 cost of the report.

After the inspection, Toth provided both a written and verbal report to Salgado and Calcaneo. He noted a number of structural deficiencies and told his clients that repair costs would be in the neighbourhood of $15,000 to $20,000. On that assurance, the buyers closed the deal.

After closing, the new owners discovered serious problems with the wooden structural beams of the house due to rot and moisture. As well, it turned out that the south part of the house was sitting on fill that had not been properly compacted and the structure itself was settling and unstable.

The buyers sued Toth, the sellers and the real estate agents. The case against the former owners was settled before trial and the claim against the agents was discontinued. The only defendants remaining at trial were Toth and his company.

After a five-day trial, Justice Grant Burnyeat awarded the buyers $192,920, representing the restoration costs of $212,920, minus Toth's original $20,000 estimate.

The judge ruled that Toth was negligent in not inspecting all of the structural beams and in failing to draw to the buyers' attention that the rot was much more widespread than he indicated to them.

The judge found that Salgado and Calcaneo would not have bought the house and would not have suffered damages had they known the full extent of the rot on the east and west side beams of the house. The judge also ruled that Toth was negligent in failing to advise the buyers to retain a geotechnical engineer before waiving the inspection condition in the offer. They relied on Toth's advice regarding the stability of the house and suffered damages as a result of that reliance.

Toth's repair estimate, said the judge, was "woefully inadequate." The judge decided that the repair estimate Toth provided led the buyers to believe that the structural expenditures would not be excessive and that the problems were not significant.

He awarded them the actual cost of the necessary structural changes, including engineering costs. With respect to the exclusion of liability in Toth's inspection contract, the evidence showed that the buyers never read the contract before signing it. The court decided that it was incumbent on Toth to draw to Salgado's attention the exclusion and waiver clauses in the contract and ensure that he understood them.

Since that didn't happen, the judge ruled the exclusion of liability paragraph didn't apply.

An award approaching $200,000 in a home inspection case is virtually unheard of in Canada. My guess is that the case will result in an end to "quickie" home inspections.

Bob Aaron is a Toronto real estate lawyer. He can be reached by email at, phone 416-364-9366 or fax 416-364-3818. Visit the column archives at for articles on this and other topics.

Sunday, November 22, 2009

Are you Planning to live a long long time

The number of Canadians aged 80 years and over topped the 1-million mark for the first time between 2001 and 2006, and the number of centenarians, those aged 100 and over, rose 22 per cent between 2001 and 2006.* According to the latest population projections, the number of centenarians could triple by 2031.*

The good news is that you can reasonably expect to enjoy a much longer life – but you should begin to plan now for those extra retirement years including planning how you are going to fund your new retirement lifestyle.

One aspect of retirement planning that you need to look at right away is longevity to be sure your income will extend for the 17 to 20 years beyond retirement that today’s 65-year-olds can expect to live (on average).**

Here are some tips to a long and comfortable retirement:
  • Decide on your desired retirement lifestyle.
  • Add to your Registered Retirement Savings Plan income with a complementary portfolio of investments that are eligible plus non-registered investments.
  • Assess your projected spending for essential and discretionary expenses and adopt an investment strategy that will match your spending needs. For example, you should plan to be able to meet such essential expenses as housing, food, clothing and medical treatments for longer than your life expectancy and for discretionary expenses like travel, dining out and a new car that can be modified for an increased amount during the first ten years and diminishing thereafter.
  • After retirement, manage your retirement savings withdrawal rate based on the size of your retirement savings, the average return on your investments over time, and the number of years you plan to make withdrawals.
  • Use life insurance to shelter excess capital and maximize the value of your estate; consider a life annuity that will provide a guaranteed regular income no matter how long you live.
  • Protect your income (and your spouse’s) with life insurance and supplementary health insurance including disability, critical illness and long-term care coverage.
  • evisit your plan regularly to assess investment performance, changes in expense levels or any other factors that can impact on how much you can spend in retirement for how long.
You professional advisor can help make sure you live long and prosper through all the years of your retirement.

* 2006 Census: Portrait of the Canadian Population in 2006, by Age and Sex: National Portrait, Laurent Martel and Ăˆric Caron Malenfant, Demography Division, Statistics Canada

** The Daily (Statistics Canada), Monday Sept. 27, 2004 – based on 2002 mortality rates

John Scholl B. Mathematics, CGA,

Consultant - Investors Group Financial Services Inc.

200 - 24 Queen Street East,

Brampton, Ontario L6V 1A3

Wealth Management & Financial Planning

Phone: (905) 450-2891 X529 Toll Free: 1 (866) 799-2223 x529 Cell (416) 731-3660 Fax: (905) 450-9747

Saturday, November 21, 2009

Shoptoism or Shopportunity?

Shop-TO-ism Rather than looking for the cheapest price consumers will look for the best value.

Hey they keep saying that real estate agent have their own vocabulary and language. This one was coined by Deloitte. Its official This Christmas will be better than last year.

According to Deloitte, more than half of the respondents to its recent consumer survey said they intend to spend at least as much this years as they did in 2007.

".. believes that Canadian retail sales this year will be higher than last year," stated Deloitte's Brent Houlden.

"But Canadian retailers will have to work hard to earn that holiday spend, as consumers will be scanning for value and hunting for bargains."

Deloitte said 40 per cent of respondents said they will spend less this year, compared to the 25 per cent who said they planned to spend less in 2007 than they did in 2006.

In a statement countering Deloitte's positive predictions, the Consumers' Association of Canada (CAC) said Canadians are unlikely to spend more this year because they are constantly bombarded with "doom and gloom" news about a possible global recession.

"I think we're in very difficult times and that's what we're hearing from consumers is that they're cutting back, looking for bargains and delaying making purchases of items of a larger nature," said the CAC's Bruce Cran. "It's as bad as I've ever seen it at any time in my lifetime."

Deloitte reported that 83 per cent of respondents said they planning to buy more items on sale this year. The drooping loonie will keep more Canadians at home, with only about 41 per cent of those surveyed planning to shop in the U.S., compared to 64 per cent a year ago.

"Compared to last year, when the Canadian dollar was at or above par leading up to the holiday season, we expect to see a significantly lower number of Canadians spending their holiday budget south of the border this year, which will help out our Canadian retailers," said Houlden.

So there we have it.... Its official The Malls are playing Christmas Carols and the shoppers at the Vaughn Mills Mall were out in full force today.

What do you think? Propertunity Shopertunity? or will it be ShopTOism for you?

Lets Viral Video your House!

Using Video to Connect for Marketing

According to the latest research from Hitwise one in every 45 visits to the Internet is to view video content. Another report predicts that the number of Internet users who view online videos will grow to more than one billion people by 2013. Online video is increasing in popularity on websites because it harnesses the power of TV at a fraction of the cost.

Working with our video team, your business will reach and connect with your target audience in a whole new way within David's circle of friends, business advisors, and local business affilates. This targetted localism is growing within the concept that we are all related in some way if we look long enough.

Online video has the advantage of engaging the viewer, offering them a more interesting experience on my website and encouraging them to stay a little longer. This helps you build a stronger relationship with customers than any other form of media. In particular, online video is unrivalled as a medium through which your unique services can be more effectively described, products can be better demonstrated and your unique service proposal and benefits more clearly differentiated from your competitors' offering.

David Pylyp is pioneered online video for real estate and its optimisation in search results pages, video engines and within websites. Our video service uses the latest technology and techniques to deliver cost effective and quality production values. With the addition of our innovative approach to optimising the videos, the finished video or videos can be hugely valuable for many businesses.

Benefit from our expertise in this new and emerging technology. From agregating the content to writing the script, from preparing your spokespeople to editing their interviews, we can ensure you of a broadcast-quality video of which you will feel proud. Our experts can convert the film into a professional promotional video that is search-friendly, bringing visitors to your site and keeping them there for longer.

Many haven't realised the potential of video on their websites and yours may be one of them. If you would like to discuss how we can work together to help your business embrace this opportunity, help to promote the Localism that is living in the City of Toronto please contact me on 647 218 2414 or by email at

Thursday, November 19, 2009

List your house for Free!

Ken McLachlan, Broker for Re/Max Hallmark Realty Ltd. said it better than I ever could in this repost of his Blog:

Competition Bureau and CREA

I suppose there will be wide spread panic amongst some in our industry - haven't you heard? The Competition Bureau has come out with their long anticipated report about our industry. Read about it here in an article from today's Star. In the report, the Bureau presents that CREA is acting in bad faith when, because of certain rules and regulations, it doesn't permit certain models of business to flourish. At the heart of the finding is the regulation which requires the listing brokerage to be engaged or part of the selling process if the property is listed with a realtor.

As I understand it, the Bureau wants the consumer to be able to handle their own sale of their property, without having to have a realtor negotiate the deal for them, but they want the consumer to be able to have the opportunity of using a realtor (for a fee) to list their property on MLS.

"Mr and Mrs. Homeowner, I will process your listing on the MLS for a fee, all calls, appointments and offers will go directly to you and you will negotiate your own deal with the coop realtor." Seems simple enough for me. In all of my real estate years, the consumer or homeowner has always had a choice. A choice of who to pick to sell and market their home, a choice of what commission will be charged, and a choice to either list exclusively, through the MLS, or privately. Now the Bureau wants the consumer to have the choice to deal directly with professional negotiators, without the help of a listing realtor.

The MLS is a service owned by CREA. Realtors across Canada own CREA. We have put together a cooperative, organized to self regulate our industry. By and large the cooperate works very well. We have high standards, look after the needs of the public and provide historical data and exceptional service for the most part. Is there a need to allow the public to be better served by "allowing" brokerages to just act as a processing service to the MLS? The Bureau thinks so, I am sure CREA doesn't agree.

What has happened to "Free Enterprise" What is wrong with various models developing their own collective to serve their needs? If I want to develop a real estate company which offers a service of listing properties for a fee, with the proviso that the co op brokers must deal directly with the sellers, why don't I just do it, and let the economy buy or not buy into it.

The problem seems to be that the current collective must allow this model and any other model in by taking away the rule of representation for sellers. There lies the problem. I wonder if I will be permitted to develop my own model, outside of CREA. Will the Bureau come to my defense when I say I have no choice but to be a member of CREA if I want to work in this industry? I doubt it.

For the record, any model works for me. Any real estate brokerage can charge, develop, promote and exists side by side with our firm. The consumer has always had choices, will continue to have choices and will make decisions based on value.

This is a long process and ultimately will develop into what needs to be. Some realtors see their service as a fee, lowest fee wins. Other realtors look at it differently.

Wednesday, November 18, 2009

There be Strippers Oh My

Dear Lake Shore Etobicoke Residents,

This is the last update email regarding the Licensing of the new Klub Kave strip club and Jaxx strip club at Lakeshore and Fourth.

After more than a year of concerted effort, to pursue this any further with the City will be an exercise in futility. As local residents, we cannot pursue this any further. A number of residents have devoted significant time and effort to this issue but we are seemingly being stonewalled at every turn.

The following quote in the Guardian from the owner of Jay Jay's best sums up the situation:
" If they're saying I'm operating without a proper licence, fine, I make these guys work for me. It's just a matter of bureaucracy. They're not going to stop me from having my dancers downstairs." - Jack Cohen, Owner of Jay Jay's

It seems an understatement that he "makes these guys work for him." After charging the new strip club for operating without a license (while being run by a different operator), the City has "rectified" the problem by shuffling paperwork and having the owner of Jay Jay's assume operation of the new Klub Kave.

You will find the details of this here

Thousands of area residents have signed petitions, contacted city officials and our Councillors office. While many in public office expressed empathy, no-one stepped up to see this license challenged based on facts and an expert legal opinion.

This has never been a battle about strip clubs, moral issues, or about the owner of the cub - but simply about the location of the club outside of the zoning by-laws and a review of the licensing process that revealed it was a new license that was approved which contravenes zoning and is not what the community was original told by the City..

On this matter, the final word is yours - feel free to write to your elected officials or share your opinions here.

As fellow taxpayers, we encourage you to read the summary at the bottom of this email of the entire infuriating and absurd process of bureaucratic (in)action.

In closing. . . .

We are giving up on this issue but not on New Toronto. Through this we have seen a high degree of interaction and engagement amongst local residents. We have gotten to know one another better and there is true strength in the knowledge that we live in a neighbourhood where people care.

Initiatives like "Shop The Shore" have resulted from the online community. We are going to continue working on new things that contribute to community development and hope you will stay engaged, share your ideas and participate in the process.
Residents For Residents

BACK GROUND Summary of Jay Jay's / Klub Kave licensing issues

1. After being charged for operating without a license, the new Klub Kave can change their paperwork and continue to operate
The details are in these articles:

Klub Kave was started by a different operator than the owner of Jaxx or Jay Jay's. Apparently, the one licence per business concept doesn’t apply in the Lakeshore and the City is satisfied if the owner of Jay Jay's draws up new paperwork to be listed as the "operator" of Klub Kave.

2. RE: #1 above - No-one seems to want to discuss Councillor Grimes motion to stop new strip clubs from opening in the area
Last year, City Council passed a motion by Councillor Grimes that directed the City to do everything possible to stop new sleeper license strip clubs from opening in this community.

Common sense would dictate if there was ever a case for following through on this motion it would be a strip club that is open and being charged for operating without a license.

There has been absolutely no mention about this motion and no-one seems to want to talk about this motion.

3. Klub Kave Liquor license
The ACGO has reviewed the liquor licenses involved for Klub Kave and determined that "Jay Jays" has a liquor license that covers the property - which includes Klub Kave. The fact that the new club is a different business with a different operator is apparently a hole in the system where the left hand doesn't know what the right hand is doing. Business licensing is a city issue (and there was no business license while it was run by a different operator) but liquor licensing is a provincial issue.

The ACGO cleared this license at a time when Klub Kave was being run by a different operator than the owner of Jay Jay's and being charged by the City for operating without a license. Considering how scrupulously the province enforces alcohol-related legislation, it seems odd that this was not enough cause for the inspector to at least suspend alcohol service while the municipal issue was addressed.

4. Summary of the City's information about the initial license approval

Perhaps the most absurd aspect of all is related to the actual validity of the initial license application.

(this next paragraph sums it up and is worth trying to understand!)

The first license was granted because it was a license renewal (Information from Councillor Grimes), however if a restaurant had applied for the license it would be a different story (Curtis Sealock, MLS) but because the community revealed it was actually a new application and not a renewal (Community) then we meant to say the license was not a renewal but granted because there is an existing restaurant license (City Lawyers - after reviewing information from the community) .

The full details of this are here

5. Municipal Licensing handling of the initial application and "rushing to judgment"
Recently, Curtis Sealock a manager of Municipal Licensing stated with regards to Klub Kave that "I know the community is upset. But the thing you never want to do is rush to judgment."

Ironcially, the problem lies in that MLS seemingly rushed to judgement in granting the initial license. After a thorough review (including legal opinion) of the initial license, it seems the initial application slid through the licensing process with very little due dilligence. Mr Sealock himself was involved in communications about this original application. His office did not advise the Councillor’s office about the application and more importantly, there was nothing in the license review paperwork that even remotely lines up with the final explanation put forward by the City to defend issuing the original license (see #4 above)

Mr. Sealock can rest assured that we are not about to accuse his department of rushing on anything since the issuance of the initial license. It has taken weeks at a time to get any response from MLS or the City's Lawyers on licenses that were granted without almost batting an eye.

The community would be well served if senior MLS officials had applied their media bravado about "due process" to the review of the initial license. To refer to residents’ consistently logical and well-researched arguments as simply a matter of a community that is “upset” is dismissive at best.
Share your opinions here


Add you comments. Do you think they should be allowed in such close proximity to residential units? Did you participate in the survey and petitions?

Tuesday, November 17, 2009

Close up of Our Mortgage Market

Sometimes, We need to check our facts and perspective from time to time.

I always thought that people would finance with the shortest and lowest interest rate possible.

68 per cent of mortgage holders have fixed rate mortgages, while 27 per cent have variable and adjustable rate mortgages. Fixed rate mortgages are the most popular among people between the ages 18 and 34, while those in the 55+ age group are more likely to prefer variable rate mortgages

Rather a surprising statistic given that most of the first time buyers are consumed with obtaining the lowest interest rate. I made a quick couple of calls to recent buyers and they all confirmed they had selected the fixed rate program.

Garth Turner of the Greater Fool fame is oft mentioning the highly leveraged and Real Estate Bubble that is bursting in Canadian housing market;

Average amount of equity Canadians holding a mortgage have in their home is $142,000, representing 52 per cent of the value of their homes. Approximately one third of homeowners do not hold a mortgage and have an average $322,000 of equity in their homes. Overall, Canadian homeowners have 74 per cent equity in their homes.

What a vast difference to the Media reports of the over extended over financed Canadian Mortgage market. Last week I found a complete article on the collusion on the part of CMHC to induce borrowers to maintain and increase mortgage debt. The article went on to say that CMHC was causing the price increases because of the borrowing specials.

You are welcome to read the entire article from the source. Click here

Please feel free to add your comments or observations.

Wednesday, November 11, 2009

Time to wake up a few Realtors

The post that I found from Mike Bowler is right on point; we are entering an entirely new and uncharted paradigm for business. The tried and proven models of Yellow Page advertising are being replaced with Google search engines and Bing algorythms. How are you being found online when people Google you. Here what shows when you google me.

Practitioners need to be proficient in Blogging, social media, search engine marketing, and how to work with the e-consumer once they contact you.Using savvy marketing techniques may generate leads for agents, however with no skills in permission marketing and inbound marketing, you will be lost. Nearly 90% of the home buyers are searching homes on the Internet prior to ever contacting an agent. Are they finding you, when they go to Google, Yahoo or MSN?

Consumers drive the industry and have always driven it, however today they are looking online first. Technology, combined with local knowledge and input educates consumers. You’re not going to do that sending junk mail, holding seminars, running ads, or interrupting consumers with phone calls, emails or newsletters. You MUST be proactive by providing great content online with Blogs, podcasts, videos, and webinars that allow the homebuyer or seller to find you.

We need to know that we are all different. Give me a call and we'll talk about it.

We need to form entirely new social and networking circles so that permission based marketing will allow friends to introduce you to their friends and help them buy their home.

Commercial Condo Buyers The Final Frontier

It was my pleasure recently to meet a new [to me] mortgage professional.

Being from a Commercial Lending background I am somewhat more aware than most agents of different financial programs and policies of Lenders. I came across Peter Majthenyi who is a Mortgage Broker with Mortgage Architects.

Our conversation touched on many different issues related to today's turbulent mortgage market, rampant fraud, buyers overheated bids, inflated market evaluations, but most striking contrast was Peter's personal commitment to the mortgage business and his service attitude towards clients. The business has purchased a commercial condominium unit [storefront] at the Loggia Residencial Condo complex at the foot of Islington and The Queensway in Etobicoke.

Peter believes [as I do] that this neighbourhood of South Central Etobicoke has many amenities that will continue to draw business owners and families alike. The proximity to downtown Toronto, via the Gardiner in just 12 minutes, makes one understand why the Condos at iLofts, California and the Humber Bay Shore are in such strong demand.

The conversation turned to Commercial Condominium Units, a very neglected and understated business. Units that are at or near 1,000 square feet are almost non existent within the city core unless you are able to move to the outskirts of the 905 in Vaughn or Mississauga. Business owners have long known that controlling expenses is critical to the survival of the business so what better, then to purchase a condo and be your own tenant.
  • Guaranteed Return on Investment
  • Annual Growth in Equity
  • Known Tenant
  • No Collection Problems

Peter Majthenyi can be contacted at 416 236 9300 for all your mortgage needs. Check their web presence at The storefront Location is 1026 The Queensway, Etobicoke. Islington at QEW. Make a point to have a look. The Mortgage Architects

Monday, November 9, 2009

Potentially Offensive Material at this site

I was genuinely shocked today when I found that reference online to my channel. What possible content could I have that is real estate, mortgaging, local to Etobicoke, concentrates on the Humber Bay Shore waterfront possibly be offensive.

OH.... someone attached a note that my video's contain pornography or are offensive.

My ears turned red. I was furious. Then I thought about it. Who ever you are who thought you could damage or sully my reputation, Let me say again thank you.

You have increased the potential for viewers to find my real estate videos!

  1. YouTube - dpylyp's Channel

    The following content has been identified by the YouTube community as being potentially offensive .... dpylyp subscribed to batonrougeappraiser (4 days ago) ... - Cached - Similar
    YouTube - David Pylyp profiles Humber Bay Shore
    A first test video I made with David Pylyp of Remax fame: ...
    YouTube - "All Marketers are Liars" - Seth Godin speaks at Google
    Seth Godin is the author of six bestsellers, including Permission Marketing, ...
    More results from »
  2. Top cameras: Through a real estate lens | Real Estate and ...

    30 Oct 2009 ... Lets use the technology to our advantage. David Pylyp ... - Cached - Similar
  3. twibs - youtube - 18 results for Twitter Businesses Matching 'youtube'

    Toronto Realtor, Vocal about life in TO, website seo student, Blogger, Fair cook and dishwasher, Youtube/dpylyp Building Friendships, How can I help you? ... - Cached - Similar
  4. RE Agents and Google Rankings 4/8/2009 - Tamara Dorris on Blog ...

    As you had asked; my video's can all be found online at or at and searching David Pylyp. Seo Coaching and Website ... - Cached - Similar
  5. Selling Your Home Using Twitter : The Real Estate Bloggers

    3 Apr 2009 ... I have been trying to connect with topical video's hosted on I wish you continued success. David Pylyp Toronto ... - Cached - Similar
  6. Twitter Videos - Toronto

    Free clip from dpylyp on YouTube. Nov 30, 2008 1:13. Are you falling behind on your mortgage? Get people involved who can help you solve these problems. ... - Cached - Similar
  7. TwittMaster.Com » Youtube as of October 27, 2009

    DavidPylyp: Oh How I want to be a video phenom! If I took up pole dancing with @aradiaOakville Would more people notice me? ... - Cached - Similar
  8. VIDEO.CA Canadian Video Sharing Community

    Added: 3 months ago by dpylyp. Duration time: 1:23 | Views: 496 | Comments: 0 ... Youtube's TrickyRicky77 teaches Phil McCracken how to do impersonations. ... - Cached - Similar
  9. Cool Youtube Videos // BlogCatalog Topic // BlogCatalog

    dpylyp has updated his twitter: Found this cool free YouTube tool from @LonNaylor puts videos on blogs and webpages! ... - Cached - Similar

Have a look at few videos, Rate them, Add a few stars please, make a comment or add a topic you would like to see addressed. My clients come from all walks of life, from many different countries and cultures and I try to embrace everyone.

Condo Buyers hit with big bills for surprise adjustments

As many as 244 purchasers received a nasty surprise at the end of September when they got hit with thousands of dollars in "fictitious" charges on final closing of their new condominium units.

The development in question is a 244-unit medium-rise building near Warden Ave. and Enterprise Dr. in Markham.

The builder's agreement of purchase and sale contains an escalation clause typical of those used by local builders.

The clause contemplates that prior to final closing, there may be increases in the municipal levies or development charges, which were in place prior to construction.

The agreement states that in the event there is an increase in any of these existing levies after the day the document has been signed, "the purchaser shall pay the increase to the existing levy ... as an adjustment" to the builder on closing.

This means that the purchasers have to pay the builder the amount of increases in any government charges, which come into effect between signing and closing. Of critical importance, the clause is silent on whether the purchasers must reimburse the builder only for increases actually paid by the builder, or as well for increases imposed by the Town but from which the builder is exempt because the levies were prepaid.

Toronto lawyer Stephen Shub represented a number of purchasers in the Markham project. He told me that on closing, all of his clients were shocked to see that they were being charged between $7,680 and $11,283 for increases in existing levies.

A schedule attached to the builder's statements of adjustments for each purchaser detailed the amount of levy increase charged.

Shub discovered that the builder had not actually paid the amounts set out in the schedule. At the time the building permits were issued in May 2007, the builder had prepaid less than $300 in levies for each unit. When the town subsequently imposed thousands of dollars in higher levies, the builder did not have to pay those amounts because the increases were not retroactive.

On behalf of his clients, Shub took the position that the builder had no right to charge purchasers for levies it had neither incurred nor paid. The disputed clause in the agreement, he said, "can only apply to monies paid by the builder to the Town of Markham and not to monies never paid by the builder."

Despite Shub's objections, the builder insisted it was entitled to recover levy increases that had been implemented by Markham but that it had not been required to pay.

In a letter to Shub, Michael C. Volpatti, solicitor for the builder, said that the purchase agreement entitled the builder to charge purchasers for "any new levy" after the date the agreement was signed, and "without regard to the date of payment" by the builder.

Translated from legalese, the builder's position is that, according to the agreement, it has the right to recover any new levies, including those that it was in fact exempt from paying.

Eventually Shub closed the transactions on behalf of his purchasers, and the amounts in dispute are being held in trust by the builder's lawyer until further resolution.

In a detailed letter to me, Shub estimated that the builder has pocketed as much as $2 million in "unreal, exaggerated, surprise closing adjustments" from 244 "unsuspecting buyers."

To make matters worse, the buyers had to come up with the cash for these charges, and could not add them to their mortgages.

Calling the builder's actions a "rip-off," Shub wants builders to commit to voluntary upfront disclosure of all closing adjustments. He also calls for regulatory intervention by the Ontario government so that builders will not spring "surprise attacks on the unsuspecting public."

I agree with him. Any attempt to force purchasers to pay thousands of dollars in fictitious charges does no credit to the public image of Ontario's homebuilders.

Bob Aaron is a Toronto real estate lawyer. He can be reached by email at, phone 416-364-9366 or fax 416-364-3818. Visit the column archives at for articles on this and other topics.

David Pylyp; I have many times advocated the Buy a NEW, Never occupied resale unit when they become available on the market, and they do. Prices are temporarily better an multiple units become available at the same time, post registration of the building.

I do not promote buying 'FLIPS' as who will attest to the value today; HOW will we quantify the worth, of this project over another. And ultimately How will you be able to close?

Saturday, November 7, 2009

We already have Metrolinx Lands

The land is already dedicated to rail use; whether it is along the Lakeshore, Humber Bay Shore community or the Rail way lands that are using diesel technology that made the news last week with protests about additional trains. Georgetown to Union. How about downtown to the Airport? Downtown to the airport in 30 minutes .... be still my heart.

OK, So its a flash monorail. We're in a recession. We need manufacturing jobs. Employees pay taxes and buy houses. Who makes it Bombardier!

Makes ya wanna take out a Canadian flag and wave a little huh.

It began with a brilliant idea...
The Monorail was originally envisioned as a joint venture between MGM Grand and Bally's Hotel, with the idea to create a one-mile transportation system linking the hotels.This exciting and forward-thinking idea took flight in 1993 and soon included plans to expand to other locations along the Strip. In 1997, the State of Nevada passed Expansion plans evolved and a professional team, including Nevalegislation that enabled a private company to own, operate and charge a fare as a public Monorail system. da-based Liaise Corporation, Granite Construction Company, Gensler & Associates, Carter-Burgess and Salomon Smith Barney, was assembled to develop the Monorail system.
Bombardier Transportation, a Canadian company and one of the world's largest transit system manufacturers experienced at turnkey operations, was contracted with operating and maintaining the trains, automatic train controls and other control subsystems.

Lets Recap.

Environmentally Friendly, Promotes regional and local employment. Creates Employment, Saves Hydro, reduces car pollution and traffic. A hotel(s) had the foresight to plan, organize and implement a transit system.

Lets get our fingers off these silly petitions to (please) stop the huge tax rip off of the HST that people do not yet comprehend and get your fingers dialing (pushing buttons) your member of parliament and elected official. Call your Member of the Ontario Legislature.

Buzz Hargrove on the CFRB was recently overheard to say that 250 k Ontario employees have lost their jobs. Lets focus on the important issues. Employed people buy houses, furniture, appliances, TV's. electronics, landscaping, pools, flooring, carpeting. Add something to the list.

We need serious people for serious issues; Who cares about WHO's riding the Olympic Torch is being displayed in. It's being Displayed in a Canadian Riding! Lets address employment and power generation issues instead.

What do you think? Do you agree? Add your comments here.

Friday, November 6, 2009

Talk is Cheap

Some will promise you anything you want.

Some of the claims are outrageous.

Here are mine.

I am here to answer your questions. Lets talk about serious issues. Buying before the new HST kicks in. Buying before there are rate increases and locking in. Curing a few credit problems and buying.

Whats the theme here?

Buying a place for you. Talk is cheap. I will listen to what you want.

Thursday, November 5, 2009

So your credit sucks Lets Fix it

So, You went to the bank. Met with the person across the desk. They told you that the RANGE or Beacon Score that is related to your Credit Record is too low for the money that you want to borrow. You feel that you want to afford that pretty house that your wife wants.

You want to make you family happy, but.....

Credit sucks huh

Maybe you just missed a few payments, Often its a forgotten item when you moved. A missed deposit. In any event, rather than being turned down we can have our people look at this for you and straighten a few things out.

It may take a few months, or restructuring your debt to reduce your monthly payments, but if you do nothing, nothing will change. You need to be proactive. We can fix this.

Give me a call at 647 218 2414 and lets Go shopping for your new place to live!

Monday, November 2, 2009

CMHC Housing Market Outlook Fall 2009

Exerpt from CMHC Housing report for resale homes in Toronto

Existing Home Sales Remain Strong

While the overall economy will register its worst performance since 1991 this year, remarkably sales in the that has seen single-detached homes represent a declining share of resale purchases has stopped in 2009 as improved affordability is allowing households to expand their options in the resale market. There are also economic and demographic forces mentioned in the Local Economy section that favour move-up buyers.

As a result, higher-end locations such as Central Toronto, York Region and Halton Region will experience the greatest rise in demand this year. The trend favouring activity for single detached homes is expected to begin slowing in the second half of next year and reverting back towards multifamily dwellings as affordability erodes.

Balanced Market Conditions

Next Year While sales levels have rebounded this year in the resale market, new listings have moved in the opposite direction. This is a reflection of the strong presence of first-time buyers in the market this year. Aside from the improved affordability conditions, the expansion of the Home Buyer’s Plan and the introduction of the First Time Home Buyers’ Tax Credit have provided added incentives for first-time buyers this year. For existing homeowners, the newly introduced Home Renovation Tax Credit provides an incentive for households to stay put and invest in their existing home. Furthermore, a sense of uncertainty remains amongst sellers who will wait for the market to show signs of stability before putting their home on the market. New listings will decline by 17 per cent this year to 135,000, resulting in a sales-to-new listings ratio just above 60 per cent.

This will categorize 2009 as a seller’s market — characterized by a rise in multiple offer scenarios and shorter days on market averages. More supply is expected to come on the market next year as confidence amongst sellers improves and prices move higher. New listings are forecasted to rise to 150,000 units in 2010, which combined with a lower level of sales next year will result in a sales-to-new-listings ratio of 52 per cent. This will bring the market into balanced territory next year and ease price pressures.

Average Prices Move Higher

Tight market conditions and a compositional shift in sales towards single-detached homes will push up average selling prices by more than three percent this year to $392,540. Current selling prices, however, are already above the 2009 average after strong appreciation in the summer months lifted prices back above $400,000 to their peak level reached at the end of 2007. Price growth will slow as the market returns to a balanced position with the average selling price for 2010 rising about two per cent from its current level to $412,000. In comparison to the average for 2009 as a whole, prices will grow by five per cent next year, which in line with the annual average for the decade.

Balance of the report is available for you here. CLICK HERE

Everyone is really on Commission

The Washington Post recently laid off a columnist because his blog posts didn't get enough web traffic.

Of course, in the old days, the newspaper had no real way to tell which columns got read and which ones didn't. So journalists were lulled into the sense that it didn't really matter. The Times quotes Jay Rosen, a journalism professor at NYU, “It’s an unusual public rationale for serious newspaper people, that’s for sure.”

Wrong tense. It's not going to be unusual for long.

In fact, in a digital world where everything can be measured, we all work on commission. And why not? If you do great work and it works, you should get rewarded. And if you don't, it's hard to see why a rational organization would keep you on.

You don't have to like the coming era of hyper-measurement, but that doesn't mean it's not here. Seth Godin.

I really appreciate reading this gentlemen's concepts.

While there are agents out there still screaming at the roof tops that they are in the TOP 1% of whatever category they seem to fit; they have genuinely lost the message. Real Estate has gone internet. Having the most listings remaining unsold when every other agent in town has sold out means a) you are truly gifted b) you over price your listings so high that even in this market they struggle to sell. c) your marketing efforts do not move the product.

Clients do not care about what you know, they need to know that you care.

Clients don't care or understand that we are the top agents in our community.

Clients want to know that you can put extra eyes on their listings, get their homes noticed and to stand out on the MLS system. This includes Video's that are interactive. [Not a slide show uploaded to Youtube] When? Today. Not next week. The market is brisk.

Hyper Localism to draw the prospect to your neighbourhood, but years of experience and encyclopedic knowledge about the "hood" and details will keep them on your page.

A wise lady told me this weekend [from Ottawa in shopping] that she selected my services based on my website presence and a lack of spelling errors on my website. I asked for clarification. [She] said "If you can't spell how can you possibly look after my real estate purchase?"

This electronic age we live in will measure all of us based on performance and not puffery.

Choose wisely when selecting a realtor, there is a vast difference.

Toronto Sales Update Nov 09

Toronto Real Estate Board sizzles past October with record sales and continuing lack of inventory for sale.

Predictions were that we would hit almost 8,000 sales for the month. October 2009 ended up being the highest October in history for number of sales reported to TREB with 8,463 sales.
Available homes and Condos, inventory levels are continuing to fall. As of October 31st there were only 14,404 homes for sale.

Details are available at

To put things into perspective, there were 64% more sales this October than in 2008 and there are currently 47% fewer homes for sale than there in October last year. The numbers show a hotter market than even those head spinning years from 2004 to 2007.

To take advantage of this market as a buyer is a little harder to answer.

How to take advantage as a seller is obvious, Stage, Price it well and Hold offers for 5 days. This bidding will continue well past the first snows of December and probably into the new year

Fasten your seat belts and Stand by…

Sunday, November 1, 2009

FU with P In real estate

This house is definitely FU with P.

The first time I heard it, I was a touch shocked. Did I miss something? Was it slang? Could I have missed their intended home.

Real Estate has many acronyms that we need to learn. The most common it seems is furnace which regularly is referred to as GB & E [gas burner and equipment]. One that seems to have retired is SS&SD, Storms, screens & storm doors. No one seems to mention the myriad of extra outside windows that are bolted, screwed and wedged in to protect us from a Canadian winter. You must have seen Mortgaging that is TAC [Treat as Clear] . Sometimes it will say PTA [Purchaser to Arrange New Financing].

Another often asked category is the closing date with TBA [to be arranged] an as yet undecided or uncommitted closing date. The Listing forms list New, PC [Price Change] and the ever confusing SC. [status change] This means that the property has moved to be under contract but is not sold until the conditions are fulfilled or satisfied, they have financing or inspection contingencies to conclude. The specific conditions are available if you ask the brokerage.

Far from our friends to the South, Closing costs here are always paid for by the buyer. Rebates apply for First Time Buyers that max out at $5725 if you Miller and LTT together. Try the online calculator.

Have you worked out the FU withP? Fixer Upper with Potential. This house is a definite FU with P. I'm still LOL about that or has text speak already aged me?

Are there a few that you would like explained? Lets try. Add your own here.