..that Canada could be headed into the same kind of disastrous real-estate bubble and meltdown that we saw right across the border.And a superficial look is just what this issue got. There was never a solid basis for the scary speculation, but it just kept bubbling up. Serious Canadian media, including Toronto's Globe and Mail, made housing-bubble headlines into a staple. Below the headline, there was usually an acknowledgment that there was no evidence of anything more than a hot market, but the scary headlines didn't stop.Even big American newspapers that usually give Canada about as much coverage as Iceland became interested. The Wall Street Journal ran a front-page story in February under the headline Housing Rebound in Canada Spurs Talk of a New Bubble.Where was the talk coming from? The most prominently quoted source wasn't an economist or a real-estate expert; it was Garth Turner, a former politician who had been promoting a book predicting a housing collapse.
Thursday, December 30, 2010
Wednesday, December 29, 2010
Thursday, December 16, 2010
"..... the only safeguard in place to inform consumers if their soon-to-be new homes were formerly used as grow-ops is nothing more than the well-trained eyes of their Realtor and/or home inspector.
In many cases, however, former grow-op homes are given a series of cosmetic fixes that disguise the fact they were once used as a grow-op. Canadian Real Estate Magazine"
Wednesday, December 15, 2010
If you have been searching the MLS for photos of houses and their interiors, you know that the limit of 9 photos is a disappointment and can not truly reflect the character and charm of your home.
For this reason alone; having a digital photographic slideshow of your property with potentially 40 or 50 photos [displayed seasonally if you wish to show off that pool, landscaping and yard] on google for your address, and fully searchable, will provide the most Buyer Views.
Seriously, isn't that really my job? To present your property in a positive fashion and expose you to multiple streams of advertising that are a photo slideshow display as well as Video Tours and highlights. With effective digital marketing our number of days for sale [on market] will be shorter, yielding you additional shoppers and ultimately better offers. Digital Marketing, Photo Slideshows, Video Tours, Marketing Materials and Brochures, Cost of Closing and monthly payment schedules, so your buyers can select the best property. For Buyers Its a one stop shopping experience where I look after all your details. We are interviewing now for what we expect to be a robust and exciting Spring Market in 2011. We only have a few weeks left to prepare
Monday, December 13, 2010
Received this today, What do you think?
I would like to reassure you that your concerns are being taken seriously. By being an active part of the democratic process, you are allowing me to gain perspective on public opinion and suggestions.
It is my hope that the Transit City brand will be replaced with a brand that takes a broader transportation perspective. The plan isn't being killed, but much of the work will be refocused underground.
The first transit priority is to build a subway on Sheppard Avenue and replace the Scarborough RT. These routes were first priority in the Transit City plan, I would like them open before the Pan-Am Games in 2015. The second transit priority is the Eglinton line. This route was second priority in Transit City plan. I would like this line open, as currently scheduled, by 2020.
I have asked the TTC to investigate and present options for a new plan to achieve these goals. Once this plan is established, I will be able to answer more specific questions with regards to cost and changes.
The previous Transit City plan was not approved as one plan by Council, individual lines were voted on. As your Mayor, I look forward to bringing the new plans forward to my council colleagues.
Mayor of Toronto
I believe that Toronto City council under previous administration did vote for parts of Transit City. I Know that further delay just makes for additional expense and gridlock.
Thursday, December 9, 2010
Canada’s residential housing sector is landing safely after a wild ride over the past three years, Toronto-Dominion Bank said in a report on Thursday.
Looking ahead, the economics unit of Canada's No. 2 bank said it expects improved home sales and a higher average price next year, largely because housing affordability will likely be extended as uncertainty lingers about the global economy. http://www.bnn.ca/News/2010/12/9/Housing-prices-to-rise-TD.aspx
The media and some analysts remain glued to the idea that the Canadian housing market is a bubble ready to implode à la the U.S., Ireland, Britain, and Spain, where prices have dropped 22% on average. The latest concerns were fanned by an article in The Economist that suggests the Canadian market is 24% overvalued based on a comparison of prices and rent. Rent captures the stream of income derived from housing, and thus, in theory, is an appropriate valuation metric. However, in practice, it is important to note that statistical agencies often have difficulty measuring effective rents. Moreover, the downward trend in interest rates in the past three decades would normally favour ownership over renting and, hence, encourage a higher price-to-rent ratio today than in the past (Chart 1). Perhaps for these reasons, of the 20 countries reviewed by The Economist, the median overvaluation was 20%, and only four countries were overvalued by less than 10%, casting some doubt on the appropriateness of this metric. http://www.bmonesbittburns.com/economics/focus/recent/101105doc.pdf
So let us turn our attention to Toronto Real Estate;
Although this is a bit slower than last year, these are very strong numbers. The number of homes for sale has dropped dramatically and we’re down to only 15,K units right now. In the GTA as a whole, we currently have less than 2 ½ month’s supply of homes for sale. This is still considered a “Seller’s Market”.
Tuesday, December 7, 2010
Mississauga, ON (December 7, 2010) - Although improved economic fundamentals will have a positive impact on Canadian housing markets moving forward, the forecast for residential real estate sales remains static in most major centres in 2011, according to the RE/MAX Housing Market Outlook Report released today by RE/MAX.
"In terms of resale housing activity, what many are talking about as the new normal is actually a return to the traditional real estate cycle ," says Michael Polzler, Executive Vice President, Regional Director, RE/MAX Ontario-Atlantic Canada. "The past decade was truly unprecedented-never before have we experienced a run up that was as strong or lasted as long. As we have digressed from the typical pattern, people have forgotten what the usual healthy cycle looks like, but all the hallmarks are there. Ample inventory levels, steady demand, and moderate growth, both in terms of sales and prices, will characterize the market in 2011. While the pace may appear lackluster in comparison to what we've grown accustomed to, it underscores the principles of real estate 101: The market is cyclical. All boats rise and fall with the tide."
Friday, December 3, 2010
The proliferation of condo's and especially upscale multilevel penthouse apartments cater to a select crowd of successful but discreet clientelle. We are Canadians.
So lets ask a question; what value should the largest penthouse in Toronto, that is located in the heart of downtown Toronto, on Bay Street, with unobstructed views from the 75th floor of Aura condo's be valued at? Can we conclude the same NYC, Manhattan and Central Park prices apply? SO.. 11,370 square feet, Private elevator, 24 hour concierge, lavish finishes and the prestige of having the only unit, the singular penthouse, tallest, most opulent location would be?
Thursday, December 2, 2010
Unlike Miss Bening; I do not do floors, dishes, counters, make beds, vacuum or general housekeeping.
Saturday, November 27, 2010
Photo array with spectacular views and activities on the waterfront of Humber Bay Shore; Click here
If you are curious about the last 12 months sales please click here; provide your email and the report will be emailed to your instantly. Click Here for Palace Place Info Page
If you would like to live in this exclusive gated condominium community please give me a call, Of course, when you are ready, I would be pleased to sell your home.
Sunday, November 21, 2010
[He] wanders in alone just as I open up, dressed in a shirt without a jacket or coat, takes the feature sheet offered. “Live in the neighbourhood?” I ask, and he meekly remarks “No, I’m not from around here”. He quickly makes his way upstairs to the second level.
When shopping and people follow me; When asked “Can I help you?” Shoppers usually respond with the standard “I’m just looking.” So.. I left him alone… initially.
[He] was upstairs for an abnormal length of time without the shuffling of feet between rooms on the second floor. The wide oak plank flooring on the second was a gleaming satin finish, no runners installed. Had I missed his departure? Had he slipped past? As I went upstairs, the bathroom door at the end of the hall was closed. The light could be seen under the door.
I waited… and there it was … a sheepish response…. “NO, I should have looked first.”
There it was. An Open House Violator. I had him trapped.
But, there were other people that start
When he came downstairs I was busy with other people. We made eye contact, he nodded and made his escape. He didn’t do anything wrong; just should have asked first. What if there was no water or supplies?
Now, I understood the concept of trap and release.
If you have an Open House Story of your own, feel free to add it to the comments section below. Sometimes we just ne
If you need a contact in
Monday, November 15, 2010
You are a beautiful row attach
You are two years old and facing a potential building site for additional townhouses, that currently is a demolished building site strewn with construction rubble and fenc
The owner's purchas
I did not decide to sell, You decid
It is not my fault that the market does not appreciate your upgrade selections and enhancements to the same dollar for dollar investment that you paid. It is not a loss on a property when the March sale (Spring Values are in anticipation of Values where Fall [November] Values are historic) prices are not achieved in the fall as the market is slightly softer seasonally. [factually about 1.5 – 2% deviation]
You could have waited and hoped that prices would rise in the spring of 2011.
My job is to represent my Purchaser. My function is to inform educate and obtain the best terms and pricing in favour of my client. My client is under a Buyers Agency. I am sorry that you were angry at my tactics. I am sorry that you felt you were taken advantage of….
But to say you lost money…..
Let’s be clear. Having a Happy Real estate transaction is great! Having a buyer Score on a property is the best! That is called Buyer Representation. We looked at all the available properties and made a selection based on days outstanding, [days on market] variance to initial asking price, number of price reductions, examined last sold data, trended values to 2007 with annual appreciation and calculated deviation from last sale based on market timing. I think my client is pleased.
Next, my client will be placing their place for sale. Now, I am here to defend their value and use my negotiating skill and the same clear imperical data to obtain the most for them. Informed Clients are empowered to act decisively with confidence not emotionally.
Sunday, November 7, 2010
For an amazing opportunity to live on the waterfront close to downtown Toronto and Bloor West Village, hurry to Pemberton Group’s Park Lake community.
Make your move to this ideal location between High Park and Lake Ontario, only steps from the Queensway streetcar. The completed 18- and 19-storey towers at Park Lake are ready and waiting with a great selection of move-in ready suites — including the final few Lakeview Suites that make water views part of your everyday life. Being able to tour completed suites take the guesswork out of your buying decision!
Another huge advantage of visiting Park Lake is being able to tour the completed amenities in this popular condominium. The two elegant towers that comprise this community are connected by a landscaped podium with a beautiful outdoor barbecue area for alfresco dining. Fitness enthusiasts will appreciate having an equipped exercise room available with state-of-the-art machines. An aerobics/yoga studio enhances the fitness area for those into cardio, stretching and meditating.
When it comes to entertaining on a grand scale in spectacular surroundings, residents of Park Lake can reserve the party room and dining room complete with a caterer’s kitchen. There’s also a cards and billiards room for quieter pursuits. In addition, residents are enjoying 24-hour concierge service provided from the stunning lobby.
Purchasers are particularly impressed with the quality of Pemberton’s finishes. The suites surround owners in practicality and luxury. Among these coveted features and finishes are upgraded GE stainless steel appliances; granite kitchen countertop; ceramic backsplash; kitchen valance lighting; marble or granite bathroom countertop with under-mount basin; keyless entry into building and suite for added security; pre-finished wood flooring for living/dining area and den; 40 oz. carpet in bedroom(s); granite, porcelain tile or pre-finished wood flooring for kitchen & foyer; and individual hydro meters.
You can tour the designer-decorated model that showcases Pemberton’s quality standard finishes to see for yourself just how much value is built in to these fabulous suites.
Park Lake is perfect for everyone from first-time buyers to professional couples, and empty nesters seeking waterfront living, minutes to downtown. The TTC bus to Keele Station is at your doorstep, and the area is rich with amenities.
Nearby, Bloor West Village is home to more than 400 distinct shops, fashion stores, popular restaurants and modern services in a European village setting, and is the scene of year-round activity.
And of course, Lake Ontario is only minutes away, making this the ideal location for water-lovers of all ages. Park Lake offers the best of all worlds, with convenient access to modern amenities as well as nature at its finest. Prestigious High Park, Toronto’s largest public park, is just north of the community.
At Park Lake, the remaining suites range in size from 955 to 1,145 sq. ft. and are priced from the low-$400,000s. Buy with only five per cent down, and move in immediately!
With over 50 years of experience in creating successful residential and commercial developments, Pemberton Group has earned a reputation for building outstanding condominium communities. Discover the Pemberton Difference, which includes distinctive architecture, the innovative use of space to maximize every square foot, remarkable finishes, fine craftsmanship, and incredible recreational facilities — all topped off with exemplary after-sales service.
David Pylyp; Yes it is! Video Pictures and our first Social Event has already occurred with our Meet and Greet Your Neighbours Pictures available on Facebook. This building has a strong and vocal community that has embraced creating relationships. Prices compared to units downtown or closer to Bathurst or Strachan indicate that we are an exceptional value. You decide for yourself.
If you would like to live here drop me an email and I'll add you to the list. Once the building is registered there are bound to be a few units. This will occur in a few short months. Looking at units in Downtown Toronto that have a "Peek a Boo View" of the water desirable makes watching the paired White Swans in High Park and the Autumn colours an absolute delight.
Monday, November 1, 2010
Affordability has fuelled buying activity across the board, according to the 2010 RE/MAX Condominium Report, highlighting trends and developments in eight Ontario markets and one in Nova Scotia. Condominiums now represent one in every three homes sold in the Greater Toronto Area; close to one in every four homes sold in Ottawa and Hamilton-Burlington; and almost one in every five homes sold in London, Kitchener-Waterloo, and Collingwood. The trend has translated into a solid upswing in unit sales activity, with 78 per cent of markets posting an increase in year-to-date sales (January – September 2010 vs. 2009)—with percentage gains outperforming overall residential sales in most
“As one of few affordable housing options available to first-time buyers, the concept is poised for dramatic growth in years to come,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “The lifestyle has also gained a foothold with younger, hipper audiences, as the definition of homeownership evolves with the changing demographic. Dreams of the small home with a white picket fence are being replaced by the funky loft apartment in close proximity to shops, restaurants, and entertainment.”
Other factors that support an escalation in condominium sales include an expanding population base, especially in areas like Barrie which saw a 21 per cent increase in the 2006 census. Immigration and inmigration will also play a role, with at least half of new immigrants settling in Ontario – and more specifically, the Golden Horseshoe. Urban renewal and intensification also add to the mix, drawing younger purchasers to the downtown core of major urban centres.
While the greatest activity continues to occur in the lower price points-under $200,000 in areas like Ottawa, Barrie, and London and under $300,000 in Toronto and Collingwood—luxury product is also attracting more affluent empty-nesters and retirees to the maintenance-free lifestyle. Condominium sales in the GTA over the $1,000,000 price point have seen a 49 per cent increase year-over-year, while condos priced in excess of $450,000 in Ottawa have seen sales jump 72 per cent compared to the same period in 2009.
Investors are also an active part of the equation, spurring demand for entry-level resale product in college and university towns like London, Kitchener-Waterloo, and Barrie—in the hopes of cashing in on student housing. New construction in major centres has also experienced an increase in investment activity—with the vast majority of units in Toronto’s downtown core purchased by Asian and Middle Eastern investors as a long-term hold.
"Unlike 1989, when a flood of new condominium listings wreaked havoc on the market, these purchasers are in for the long haul," says Polzler. "Leverage is not a factor, with most paying cash for their units. If they can’t sell their apartments, they’re more than prepared to rent them out." http://www.remax-oa.com/media-newsroom/article/62/
David Pylyp So what conclusions can we grab from this article? What nugget is there? Single women are forming their own market group. Young professionals are realizing the concept of equity and need to start their nest egg.
Wednesday, October 27, 2010
Despite all the media hoopla associated with Sunday's vote by CREA members to ratify the Competition Consent Agreement, it will be business as usual for real estate professionals across the country.
The public will continue to access listings on the MLS system or Realtor.ca, but any posts to the system remain firmly in the hands of local realtors. Under the terms of the new, 10-year agreement, CREA and the Boards cannot prevent or discriminate against 'mere postings' and members who offer 'mere postings.' CREA does not believe that such rules exist today-but if they do-they must be repealed or Boards will lose their license to operate under the MLS trademark.
So all in all, it's business as usual. Sure, consumers have more choices, but then again, they always have. Discount brokers have been around for years. There is a reason why the MLS system is responsible for 90 per cent of resale housing transactions in the country. Canadians rely on the full-service approach provided by the country's 100,000 real estate professionals. Regardless of alternatives, most people require the services of an experienced agent to sell their home.
All we need to do is look south of the border-where the process is similar-for confirmation of that fact. According to the National Post, "the U.S. Department of Justice negotiated an anti-trust settlement with the National Association of Realtors allowing internet brokers and other agents offering discounted commissions to access the MLS in 2008. Two years later, traditional full-service brokers still control between 70 and 80 per cent of the U.S. housing market, and the average commission has increased to 5.3 per cent of the sale price from five per cent in 2008."
In fact, NAR statistics provided by the National Post show 80 per cent of sellers use a full-service broker, managing most of a transaction from listing to closing. Another nine per cent choose limited services that include discount brokerage and 11 per cent opt for the bare minimum of just listing on MLS.
There's a story to be told here. Consumers place value on the services we provide as realtors and that's not about to change. Why? We have the knowledge and expertise to generate results. Few are willing to take chances with their most valuable asset. As Canada's leading real estate organization, we will continue to do what we do best-assisting buyers and sellers with the biggest financial decision of their lifetime.
Take a moment to look at our new marketing campaign on the critical role of a RE/MAX agent. It is easily found on www.FitToSell.ca. This timely campaign demonstrates the value of using a professional RE/MAX agent. It should help offset some of the negative press, until things settle.
As I said, business as usual.
Executive Vice President, Regional Director
RE/MAX Ontario-Atlantic Canada Inc.
Add your comments. Can I charge extra for attending at your closing and inspections?
Tuesday, October 19, 2010
"Quite a lot of agents are going to offer fees for service. If the vendor is listing for a fee, why can't the buyer's agent do the same? Then there's no commission to deal with at all," Mr. Andrew said. "Everybody engaging the services of a real estate agent would have to be on a contract."
The other major ramification of the agreement could be a gradually squeezing of for-sale-by-owner (FSBO) sites, which could find themselves competing more and more as discount models on the MLS. That was one of the fears of National FSBO Network, whose vice-president of operations, Stephen Skelly, had argued in a letter to the Competition Tribunal that if agents list property on the MLS for a one-time fee and provide no additional service, his members would not be able to compete.http://www.montrealgazette.com/business/fp/money/CREA+nothing+deal+lawyer+says/3691706/story.html
Saturday, October 16, 2010
When is one location superior to another; Ok ok we are firmly in the Bloor West Village Toronto neighbourhood and comparing Beresford to Armadale or is Colbeck a superior location. Is it OK to pay this much money for Runnymede?
Friday, October 15, 2010
Wednesday, October 13, 2010
Tuesday, October 12, 2010
When Pamela Herring bought her first home she didn’t open a bottle of wine to celebrate.
“I regretted [the purchase] the day after I moved in,” she said. “I had a meltdown and hated my home for a few months.”
Herring found support with her family and friends. “My family and friends helped a great deal. My sister told me I could come visit her any time. My parents told me I could stay with them any time I wanted. Everyone invited me over for dinner a lot, knowing how miserable I was. My friends were supportive and told me of their own home buying woes. I didn’t spend much time there if I could help it. I told myself I could always rent it out and move in with my parents again if it got too bad. My dad supported this.”
And in the end, sometimes the situation improves.
Herring said, “I still have relapses. It’s been a year and I like it much better now. I tell myself I can find a roommate if I get too lonely or if I’m mad about the house itself, I tell myself I can renovate or find another in a few years. It’s all negotiating with myself, but the feelings come and go now. It’s getting better … or I’m getting used to it.” http://www.yourhome.ca/homes/realestate/article/868816--when-buyer-s-remorse-extends-to-your-home
So what do you do? I have a simple solution. Although we do a market evaluation to ensure value, I also provide a Satisfaction Guarantee. If you are unhappy with what you have purchased I will sell it for free and help you select something else that may be more suitable.
Monday, October 11, 2010