..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.