Wednesday, December 28, 2016

INSIGHTS to the condo market - Toronto 2017

Urbanation recently polled Builders to ascertain the level of FOREIGN OWNERSHIP in the Toronto Condominium Market

The results of a survey conducted by Urbanation Inc. indicate that the majority (52%) of buyers of new condominium units in the Greater Toronto Area are being purchased by investors who do not intend to occupy their units and that only about 5% of new units are being purchased by foreign buyers (i.e. buyers whose primary residence is outside of Canada). The survey was conducted among developers of condominium projects being developed in the 3rd quarter of 2016 (projects in the pre-construction and construction stages and recently completed projects). Urbanation Inc. is a research company that has been analyzing the Toronto condominium market since 1981.The results of the Urbanation survey are consistent with the findings set out in the Canada Mortgage and Housing Corporation (“CMHC”) November, 2016 report, Housing Market Insight Canada – Foreign Ownership. The CMHC report indicates that foreign ownership of condominiums in the Toronto Census Metropolitan Area in 2016 was 2.3%, with the greatest concentration of foreign ownership in new condominiums and condominiums with more than 500 units.There has been considerable speculation as to whether the Government of Ontario will introduce a tax on foreign buyers, as was done in British Columbia. Since the results of the surveys conducted by both Urbanation and CMHC indicate that only a small percentage of units are being purchased by foreign buyers, this would seem to suggest that there is no need for a foreign buyers tax.Another survey conducted by Urbanation indicated that the supply of condominium units in the Greater Toronto Area listed as available for rent dropped by 13% in the 3rd quarter of 2016.“Market conditions became very tight in the third quarter with the average condo rental spanning only 12 days on the market and the number of units renting for above asking price more than doubling from a year ago.”These findings are consistent with recent findings of the Toronto Real Estate Board, which indicated that rental rates for condominium units had escalated considerably due to the fact that there were fewer new condominium projects being completed in the third quarter.With the hot real estate market in the GTA it will be interesting to see what happens in 2017.

Many are looking at these results in light of BC's additional tax of $150,000 per property in Vancouver and Toronto's eyeing Revenue Tools ( additional Taxes )

Do you think we need a Toronto Condo Tax on Foreign Owners?

How do we decide who is a foreigner?
Are they a Student?

Are the Landed Immigrant or Permanent Resident?

What's the best way to see a condo unit?

Matterport of course

List your condo?

Tuesday, December 20, 2016

AirBnb is finished inside Toronto condo

Now it is up to the individual condo boards to remove them from the buildings.

The condominium declaration in this case provided that the units could only be used “for the purpose of a single-family dwelling, which includes a home office . . .  and for no other purpose.” The declaration did not contain any provision which specified a minimum lease term for any rented units.

 OCSCC No. 961 v. Menzies, the Ontario Superior Court of Justice concluded that the short-term leasing of a condominium unit was in essence the operation of a hotel and thus constituted a breach of the single-family provisions in the condominium declaration and also a breach of the condominium rule that prohibited leases with terms of less than 4 months.

I think that is rather conclusive.  You?

Would you like to talk about condos?

Ping me or email

Tuesday, December 13, 2016

3 New Condos beside the Islington Odeon just off the Queensway

Located just west of what was the best back bacon sandwich....

On the South side of the Queensway, behind the 3 towers by Remington, there is new construction proposed. 

A formerly industrial area of Toronto is about to see an explosion of new residential density. A new proposal for two or three condo towers has been submitted for 2 St. Lawrence Avenue, located on a 3.22-acre site just north of the Gardiner between Kipling and Islington Avenues in Etobicoke. Overseen by Kooby Investments and designed by Kohn Partnership Architects, the application seeks to rezone the subject lands to allow for residential construction

Directly to the north of 2 St. Lawrence, a rezoning application was submitted in 2014 for the construction of a two-storey commercial building along the Queensway—to include a replacement Sobey's for the Kipling Queensway Mall location which will be lost to a Gardiner interchange expansion—with two residential towers of 22 and 27 storeys just to the south. Jumping to the east, the lands of the Cineplex Cinemas east of Dorchester Avenue have been granted permission to be severed, with a rezoning application submitted proposing four residential towers of 12, 12, 12, and 20 storeys along the Queensway frontage.

Do you know this place?   just west of the Odeon Theaters? 

What do you think?

Would you like to live there? Tell me why?  

Thursday, December 8, 2016

Why is AirBnB Bad?

Condos are fighting back against AirBnb

  • Wild parties
  • Never Ending Visitors
  • Over Use of Common Elements
  • Owner Apathy causes values to decrease   

Pick one!

Here's what Lash Condo Law had to say...
What do you think? 

With the growth in the “sharing economy”, many condominiums have been forced to turn their minds to the issue of short-term rentals.  While some investor owners are listing their units on short-term rental sites in order to maximize the revenue generated from their units, many resident owners do not welcome short-term rentals.From the perspective of resident owners, short-term rentals have negative ramifications:§ They detract from the sense of community that many residents desire
§ There are increased concerns about safety with so many strangers coming and going at all hours
§ There is increased wear and tear on the common elements
§ Inappropriate behavior by many short-term renters interferes with the quiet enjoyment of residents
§ The condominium is in effect an unlicensed, unregulated hotel.
Without any legislation that prohibits short-term rentals in condominiums, many condominium corporations are finding it quite challenging to put a stop to this type of activity in their building. However, there have been recent reports in the media about some condominium corporations that are winning the battle against short-term rentals.CBC News reported about a condominium where owners were able to successfully oust from the board, directors who favoured short-term rentals, even though the condominium documents prohibited rentals for a term less than a year. In this case, there were two short-term rental companies that leased units from investor owners and then in turn, advertised and rented the units on a short-term basis and had been doing so for five years.  It took two years for the resident owners to get control of the board so that the prohibition on short-term rentals in the condominium documents would be enforced.The Globe and Mail recently reported about a condominium concierge who was spending several hours a day scanning short-term rental websites looking for units being offered in his building.  He was also keeping a diligent lookout for strangers arriving with luggage and refusing to allow them entry into the building.While it may not be easy or quick to put a stop to short-term rentals, these two stories show that it can be done.Click here to access our Practical Guide to Short-Term Stays (Hoteling), which provides practical steps to condominium boards to effectively address this issue.

 What do you think? 

David Pylyp

Tuesday, April 12, 2016

One in 10 could be behind with their mortgage

The high level of debt carried by Home Owners in Toronto is exceeding their capacity to safe for their rainy day fund.   One singular event, a car accident or if one wage earner is laid off can have serious consequences.

We may qualify at the posted rates and take a mortgage at the variable rates; additional expenses make it harder to save for retirement or that annual vacation.

Who says so?   CD Howe Institute.  December of 2015

 The portion of mortgage indebted households with a primary mortgage debt-to-disposable income ratio in excess of 500 percent has climbed from 3 percent in 1999 to 11 percent in 2012.December 9, 2015 – The federal government should pay close attention to several pockets of risk in the Canadian housing market, according to a new C.D. Howe Institute report. In “Mortgaged to the Hilt: Risks From The Distribution of Household Mortgage Debt,” authors Craig Alexander and Paul Jacobson expose pockets of vulnerability by going beyond national averages and focusing on the distribution of house mortgage debt by income, age and region, all of which matter most when assessing risk.
“Household mortgage debt has risen dramatically and traditional economy-wide averages understate the degree of financial risk for those that carried mortgages because they typically divide the value of mortgages across the income of households with and without mortgages”, remarks Alexander.
Using the data from the Survey of Financial Security, the authors find that the ratio of the value of mortgages on primary dwellings have jumped from 144 percent of after-tax income in 1999 to 204 percent in 2012.  However, this also understates the degree of financial risk for a significant minority of households.
The author’s analysis suggests that a significant minority of Canadians having taken on a high degree of financial risk. The portion of mortgage indebted households with a primary mortgage debt-to-disposable income ratio in excess of 500 percent has climbed from 3 percent in 1999 to 11 percent in 2012. Their analysis of the distribution of mortgage debt is as follows:
  1. Income: The increase in highly mortgage-indebted households has been in all income groups, but more so in lower-income quintiles.
  1. Age: The increase in financial risk is also evident across all age groups, but more so for younger Canadians who have entered the market most recently.
  1. Region: As one might expect, there has been greater concentration of mortgage debt in the provinces with the strongest housing booms.
Additionally, the authors find that roughly 1-in-5 of mortgage indebted households have less than $5,000 in financial assets to draw upon in response to a loss of income or to higher debt service costs. 1-in-10 mortgage-indebted households have less than $1,500 in financial assets to address any shock. This represents an inadequate financial buffer, as average mortgage payments are more than $1,000 a month, before taxes and operating costs.
The federal government may want to consider further policy actions to lean against the shift towards significantly higher mortgage burdens. However, such policy measures should not be unduly heavy handed and should be targeted to address the distributional nature of the risks.
For example, potential targeted measures would be to tighten underwriting requirements by lifting required credit scores, capping total debt-service ratios at lower levels, lifting qualifying interest rates when doing income testing, or varying the minimum downpayment by the size of mortgage to target higher-priced markets. Such measures would build on the regulatory tightening already done to date without posing a material threat to Canadian real estate markets.    Click here for the full report

Getting the correct Mortgage Advice; living with your means and eliminating HIGH Interest rate credit card debt all count towards securing your long term comfort.  I recommend a debt check up with

Because the best mortgage is NO mortgage at all.

David Pylyp

TXT 647 218 2414 or Email

Friday, April 8, 2016

It's 2016 Why do Real Estate Agents Still Exist?

Being Online everything has UBERed many business's into extinction!

Amazon delivers in 24 hours!

The internet should be killing real estate agents!
National Association of Realtors, agents are as widely used as ever: 89 percent of buyers retained one in 2012, up from 69 percent in 2001. It's the same on the seller side, where only 9 percent sold a home without an agent, down from a high of 20 percent in 1987.
Ontario has 42,000 registered agents 

So what's different?

Buyers are International.
Showings are via Virtual Technology with Matterport 3D Tours. Buyers can pre inspect from the comfort of their computers. This reduces stress for you in showings. 

Financing is more complicated
Buyers over bidding on properties may not get funded because of appraisal or other legal issues. Some buildings / complexes has huge supply of condos available. Size does matter.

Home Sellers Insurance
Coverage is available to protect you from unforeseen expenses 

I know people and Have VETTED THEM
Whether they are the painters, landscapers, electricians, flooring contractors, appraisers, home inspectors, bankers, mortgage brokers or lenders; at some point I have used them and found them better than gambling on Craigslist for short notice services required.

Home Verified Reports
Used by Insurance Companies they provide a HISTORY of claims for flood etc.

Real Estate is a local 
I can display for you homes that have sold in proximity to the neighbourhood you want; design a canvass plan just for your search and Flyer / door knock the streets that you would like to live. VIMO applications for reports. 

Using Social Media and my personal network of professional realtors we can reach out to those that are active in local communities and search out pocket listings and coming soon.
Matterport Tours are available at

How you receive the information has changed. 
My function has not.

I look forward to your enquiries.  Call or email today to get started

David Pylyp
647 218 2414

Tuesday, March 1, 2016

Putting your House on the MLS is not enough

Just POSTING your house onto  or is not enough to market your home. You want to attract a wider pool of international buyers who will qualify themselves into loving your home.

New technological advancements in real estate are piling up, making your habits grow old much faster. These cautionary tales from the plugged-in crowd at Inman Connect this year reveal ideas and practices that practitioners should ditch as they move toward a more connected world.Favoring Traditional Listings Over an Interactive ExperienceConsumers are demanding a more dynamic experience while searching for homes online, but many real estate companies aren’t offering 3-D listings because they fear the impact the technology could have on the role of the agent, says Marc Haguenauer, CEO of Vieweet, a company offering tools to shoot 3-D video and virtual reality. “Brokers fear that if you’re using virtual tours as a marketing device, you’re giving away too much information right away and losing leads,” he says.The idea that the enhanced detail of 3-D listings takes away from the importance of an agent is a fallacy, says Mark Tepper, vice president of sales and business development for 3-D camera maker Matterport. He says richer listing detail gives international buyers and those who can’t be there in person to see the property a reason to call. “What it will do is bring you better-qualified buyers and open you up to a global market,” Tepper says.Up next is virtual reality, whereby real estate pros can create a virtual world inside a home. Though the technology is still evolving, Tepper says 3-D will help usher virtual reality into everyday marketing tasks. So it’s important to get a handle on 3-D now so you’re ready for what’s coming next.Outsourcing Technology Education to VendorsBrokers often seek out vendors for training on new technology platforms, but it’s time to rethink that strategy. “We have so many tech tools available, but adoption is a challenge because of the broad demographic of our agents,” says Dina Di Maria, senior vice president of information technology for NRT, a residential brokerage whose brands include Coldwell Banker, Sotheby’s, and ZipRealty.

New Tools are coming to Market your home and Buyers are using Matterport Technology, Virtual Online technology and SINGLE Address website to Feature your home.   Get a top agent who is actually using it to speak to agents and Sellers about how they can use it. 

Distribute 200 - 300 OPEN HOUSE invitations to your event; Include the Website detail.

David Pylyp
647 218 2414

Call to list Today!   We have buyers waiting.

Friday, February 5, 2016

Its been inside the garage all these years

You came to visit and take an inventory.

Mom has relocated to the  retirement centre and the house vacant for over a year.  The carry costs are accruing. 

There in the back; the Soap Box Racer that you built with your Dad and saved for next year's races. It has been waiting all these years.   So many feelings come to the surface.

Your siblings are getting VOCAL about selling the house and taking advantage of the strong real estate market in Toronto; but there are so many things to deal with.

Where do you start?

Accredited Senior Agent, David Pylyp can bring forward an array for help to prioritize and organise the contents. 

Its more than a sale.   These are your memories

David Pylyp
Sales Representative
RE/MAX realty specialists inc., brokerage
416 233 9000

If I can't help; I will recommend someone personally vetted who can

Monday, January 25, 2016


Your home viewing experience is being shared live with the Sellers and our Entire Periscope Live Streaming Audience.

Is that an invasion of your privacy?

Does it safe guard against theft?

Live Streaming your Open House.
Fab or Fail? 

Time to list?

Call Dave 647 218 2414

You claim you had 2000 views on - Prove it!


Any agent can show you the number of views per listing period and their intensity.

That is part of the marketing function.  Getting Eyes on your property

I know that some are proponents of 3rd party websites;  BUT is the strongest portal available to Toronto Home Sellers.  The combination of Matterport as a Virtual Viewer and MLS presentation makes buyers share the listing details with their friends and family.

That makes them PRE qualify themselves.

Can you see when that listing HIT the market?   Let me do this for you and your home sale.  #Call me

Taxing the Land Transfer Tax in Toronto

Instead of curbing spending Toronto City Councillor pitches extra tax on Home and condo purchasers. 

Toronto Canada has the highest Tax to purchase a home based on the sales price of the transaction.

The Ontario Government imposes a Land Transfer Tax
The City of Toronto imposes their own Land Transfer tax

Check what a sale a $750,000 would cost you.

Now they want you to pay a NEW tax on the tax

At the city of Toronto's budget committee meeting on Tuesday, they'll be discussing a proposed $75 administration fee. Torontonians will have to pay the fee in order to process a Municipal Land Transfer Tax payment.

It was put forward by Toronto City Councillor Gary Crawford

If passed, the fee would be imposed as of April 1st and would reportedly save the city $5 million a year.

- See more at:


Tuesday, January 19, 2016

You should know the facts to Change your life in 2016

What prices should we watch this year?   Everything is going to be more expensive!

We faced financial extinction in 2008 and bounced back. The average Toronto detached home approaches $622k. Sales continue unabated averaging 10% per year in financial gains per year since '95 breaking 100K units in the GTA. 

The key seems to be consistency.

This could be coming to an end.


Oil Prices have been falling, much to our delight at the gas pumps but now we realise that OIL and Gas related employment accounts for 25% of our economy. Increased expenses for everything we eat, as we suffer with exchange rate that is an eleven year low.

Brick-and-mortar stores still have value in the form of sales and brand experience, but if they’re not building a strong online presence in tandem, they’ll quickly find themselves out of the running.

Canadian Consumers are increasingly shopping online.

Mortgage Finance rules have changed requiring Larger downpayments and stricter lending guidelines. Those Millennials fortunate enought to have found a decent paying dependable job will some trouble qualifying for new mortgages; Those with contract work will find it a struggle. 

With so much weakness in the domestic economic picture,  uncertainty over oil prices and negativity in Canadian markets, year-end seems a good time for homeowners to focus on eliminating debt and consider finally working towards being debt free.

We All still see Canada as a safe haven for investment and immigration. People will continue to arrive and 95% want the Canadian dream of Home ownership. 

It all simply comes down to consumer confidance... 

I dont have an APP    Just call me  
Let me help you with my best pricing tools

David Pylyp
Sales Representative
Accredited Senior Agent
Toronto Canada 

RE/MAX Realty Specialists Inc., Brokerage
Mississauga, ON

Tall is the most efficient design

Etobicoke South Completions this year; 2016

The congestion around Park Lawn and Lake Shore is set to MORE!

2016 Completions
With much of Etobicoke's high-rise construction activity clustered near the Lake, the Humber Bay Shores and Lake Shore Boulevard corridor are set to see a wealth of projects completed in 2016. Overlooking Mimico Creek just north of Lake Shore Boulevard, The Times Group's Key West kicks off our coverage in Etobicoke's east end, with the 44-storey Burka Architects-designed tower now in the closing stages of construction. With the building now topped off and 90% of the cladding installed, the project is already shaping up aesthetically, with precast concrete piers emphasizing the vertical amidst the surrounding cluster of towers.

Do you have a favourite community? 

Would you like to live here?  Connect with me at 647 218 2414

Sunday, January 10, 2016

We all buy based on monthly payments

But do you actually stop to think and consider the value of what you are purchasing?

Some recent events are causing me to re examine some decisions I have made in the past;  Namely, we decided that paying $735 per month in maintenance fees was acceptable since we lived near the lake, had transit and concierge both at the front door.

Since, I work primarily from home I relished the conveniences of no maintenance obligations, a garbage chute, the power washing of my above ground parking spot inside a heated garage, snow removal and landscaping.  I walked to my office coffee in hand.

We have a new child.  Everything has changed in the span of 9 months

This is causing our revisit to a detached home;  deemed un attainable by pricing, as detached property in the west Toronto averages well into a one million dollar purchase.

The alternative is to accept modern, thermally efficient, well wired (no aluminium or weekend electricians) centrally located townhouse that are in close proximity to a subway station.

A number of these communities have emerged, Islington Village, Furrow Lane, Van Dusen, Bering Avenue, Six Points Road,  and newest is Westhaven's Tiffany Park, [just south of Judson beside the No Frills]

BUT  what are you buying for almost $900,000?  Lets say that together ...  NINE HUNDRED THOUSAND DOLLARS!

The lot size in the pictured sample is 14.76 feet by 61. 81 feet. This includes the patio or rear deck over your tandem garage.  There will be a rear door to the alley.  A lot of this size is called a POLT   Parcel of Tied Land,  the balance of the property is actually a condominium corporation for the ongoing road landscaping and upkeep.  This way we are buying a FREEHOLD property.

Trims and finishes are modern granite and hardwoods, Fireplaces are Gas fired, but there is little rear yard for gardening.

Let' examine the Monthly carry costs

$900,000 Purchase Price
  180,000 Downpayment (20% will save you the CMHC premiun)
 $720,000 First Mortgage  at Today's rate  you qualify at 4.64% but get 2.69% for 5 Yr.

LTT (Toronto Land Transfer Tax to purchase)     $28,200

That payment is $3,294 per month assuming no rate increases over the next five year period.  Your mortgage balance at renewal is $611,709.  We have not paid the maintenance fees or property taxes, Nor turned on any lights or the heat.  Have you

A good used car carries at $500 per month with 0.9% financing but I only extended myself to $35,000.

Adding my car debt requires an income level of $250,000 gross per year ( family or combined ) and that simply is beyond most first and second time buyers.  Mortgage Finance rules have changed for 2016 requiring Larger down payments and stricter lending guidelines. Those Millennials fortunate enough to have found a decent paying dependable job will some trouble qualifying for new mortgages; Those with contract work will find it a struggle.

What are your thoughts on Toronto Housing affordability?

Real Estate NEVER drops in price

Real Estate prices never go down or it's always a good time to buy may have additional qualifiers this year.

The Financial Post says;

With so much weakness in the domestic economic picture, so much uncertainty over whether or when oil prices will recover, and so much negativity in Canadian markets, year-end seems a good time for investors to consider finally working toward real diversification, and paring back their exposure to domestic assets that represent a very small portion of world market.

With our dollar dropping, taxes increasing and the loonie at an eleven year low; this is an excellent year to eliminate high interest rate debt.

Tell them Dave sent you.

In the mean time if you want the best price possible on Toronto real estate