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 3^rd 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 3^rd 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

http://Bit.ly/CondoTour


List your condo?

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.
https://www.washingtonpost.com/news/wonk/wp/2013/08/22/why-do-real-estate-agents-still-exist/

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.

http://www.Facebook.com/dpylyp
http://www.Twitter.com/davidpylyp
http://www.SellinginToronto.ca
https://plus.google.com/u/0/+DavidPylyp

https://plus.google.com/u/0/+DavidPylypToronto/posts
Matterport Tours are available at http://DigitalImagingToronto.com

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

Putting your House on the MLS is not enough

Just POSTING your house onto Realtor.com  or MLS.ca 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. http://realtormag.realtor.org/technology/feature/article/2016/02/3-technology-habits-you-should-kick

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.

You claim you had 2000 views on REALTOR.ca - Prove it!

OK!

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 MLS.ca 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

Toronto's Million Dollar Homes are HOT

The luxury market in the Greater Toronto Area was very active during the first seven months of the year. Sales of properties over $3 million increased 119 per cent year-over-year. The increase of sales at the top-end of the luxury market can be attributed to two factors.

One is overall price appreciation in both markets, driven by low inventory and high demand for single-family homes that has led to more homes meeting the higher dollar threshold. A second factor is high demand for luxury homes from foreign buyers in both markets. 

Two demographics make up the majority of buyers in Toronto’s luxury market.  One is families with older children and parents with professional jobs who have built up enough equity in their previous home to upgrade. The second are families from outside of Canada, primarily China, with school-aged children. These buyers typically choose four or five-bedroom homes and are strongly influenced by proximity to good schools.


http://download.remax.ca/PR/HMO2016/Report/REMAXHousingMarketOutlook2016.pdf#20561241

Average sales prices now exceed $600,000 for a detached home.  Our year over year gain for 2015 is expected to be at or near 10%

Canada Mortgage and housing has introduced new rules for additional down payments requiring 10% down after the $500k threshold.   I doubt these measures will have any effect to slow sales.

Rates continue sub inflation
Inventory Remains Low
Immigration for Jobs and Safe Haven Continues

Are you Selling or Buying?  http://DavidPylyp.com  Come see what's new!

What do you think?

Digital Imaging arrives in Toronto

When home sellers see that you’ll be presenting their property online in immersive 3D, they will be blown away. A Matterport 3D Showcase™ makes you the clear choice to list any property. 

Digital Imaging Toronto is revolutionizing how real estate photographers, brokerages and agents showcase residential and commercial properties. The Matterport 3D technology is simple, powerful and effective. The ultimate home Viewing instrument that allows you to measure and create floorplans. 

A 3D Showcase™ is an online experience that lets home buyers move through a property and see it from any angle. Even get a completely unique sense for the place with our “dollhouse” view. Try it here!

 

Matterport 3D Media Platform Demo from Matterport on Vimeo.


... BUT there are thousands of other professions and services that could use this technology; 

• Restaurant or Pub displaying their venue 
• Homes under construction displayed in stages of completion 
• Stores that have an online shopping presence 
• Commercial Real Estate Brokers to display retail or office space. 
• Home designers to display what could be changed. 
• Insurance Companies for Claims or Verification Museums, 
• Art Galleries and other Venues 

 Matterport is a key part of the optimal “click and mortar” showroom and commerce experience. The Matterport Pro 3D Camera and Capture App for iPad automatically produces high-quality immersive 3D models in the hands of any user. As the camera gently spins, it captures the colors and contours of a space—and calculates dimensions and spatial relationships between objects. Other laser-based camera systems are cumbersome, expensive and take days to create a 3D model. Access and organize your 3D models. 

The Matterport 3D Portal is a management and distribution platform for all of your 3D models. Access and organize your scan jobs and models, collaborate with your team, share models with clients, and publish models to the general public. All of your 3D models are uploaded into the folder you designate for each user. Cloud-based creation and hosting of high-fidelity 3D models. 

The Matterport Cloud executes an extensive set of computer vision algorithms to process the photography and 3D data, creating a 3D model that combines HDR-quality imagery with dimensionally accurate geometry. In this way, geometrical data is converted into an efficient polygonal mesh, which can be easily streamed to the Matterport 3D Showcase media player. 

Be there. From anywhere. Once a Matterport 3D model is hosted in the Matterport Cloud, viewers anywhere in the world can explore these spaces from their desktop or mobile device. The result? A totally immersive experience that literally transports you. 

 This functionality is now available on Virtual Reality platforms like VR Googles. http://matterport.com/virtual-reality/ News Releases http://matterport.com/in-the-news/ 

Call Digital Images Toronto to arrange your Virtual Tour - starting June 20, 2015

Digital Imaging for Home Tours 3D with Matterport

New Technology now available in Toronto

Matterport digital imaging combines 3D and 2D technology and renders a drive-able video tour. You control what you want to see and from what perspective.




3D Showcase Navigation Help. 

3D Showcase features a new help experience designed to drive greater engagement with your models. Navigation Help educates users on key features, such as walking around inside the model and viewing the Dollhouse. 

Click the question mark icon to open Navigation Help. Navigation Help automatically appears once for each user. If you wish to display help every time a particular 3D Showcase runs, you can add the query parameter help=1 to the embed code, as shown below:

Call to create a Digital recreation of your home today 647 218 2414

Virtual Tours Are available Approximately June 20th 2015
Condos from $200    Houses from $300
Engagement is 4'x that of a normal virtual tour
Book Now! 

SAMPLE condo showcase https://my.matterport.com/show/?m=d2rR1qJuRbb

Exclusive Whisper Listings for Luxury Homes

Why didn't we see that one?  Some houses are sold as POCKET or Whisper Listings.

Recently a Hollywood movie star sold her house in a whisper listing.  Yes, You can have a look at Jennifer 's House

http://variety.com/2015/dirt/real-estalker/jennifer-lopez-pocket-lists-hidden-hills-estate-1201419521/  

Toronto has more millionaires per capita than any other city in North America, and they love their privacy and anonymity.  http://www.macleans.ca/news/canada/99-reasons-why-its-better-to-be-canadian/


What is a POCKET LISTING?  Simply, I protect your privacy.

It is a Listing, that at this time the Seller has no intention of placing on the open MLS.

These are listings that I sometimes have that are in better closed neighbourhoods.  This may be because of school district or simply pricing. [or the owner's privacy]

We have met at an open house and  a specific buyer that wants this particular subdivision.  There are very few or none available.  I will write and canvas the individual homes for pocket listings.

Notes and Direct Mail; Receiving a few replies will lead to previews of specific properties, that will agree to showing their home discreetly.

These one party signed exclusive [pocket] listing agreements, may prove suitable or may not.  They nevertheless become available inventory to my clients.


What are the advantages?
Some want privacy...
Some do not want the open MLS knowing they are for sale
No people [shoppers] through the property that are unqualified to make the purchase.

Are you ready to be previewed for Whisper Listings?

Call Now....  If it's busy .. call back

647 218 2414

Top 10 Reasons to Live in Toronto

The Toronto scene is happening!

The City of Toronto is an amazing place to be right now. But if you're an out of towner looking to relocate and join the fun, it may seem tough to get started. Toronto's hustle and bustle has spread from Mississauga to Markham, Finding a place to stay can be expensive and intimidating. It really is a close knit scene, so you may need a helping hand to break in.

I can help you.

You need merely to raise your hand and you can be 'adopted.' We will try to pair you with a welcoming member of the Toronto scene. Whether its a place to tweet from or a cup of coffee; we will meet you when you visit.

Either way, you will see Toronto through the eyes of Torontonian. Join my face book group and say hello.

1 - National Geographic rates Toronto the most civil and civilized city in the world

2 – We are Number 2 in North America for quality of living (Mercer Consulting)

3 – Toronto is Best international city for work and family (Fortune Magazine)

We have One of the lowest crime rates of any city of comparable size. Readers Digest surveyed 32 cities in the world. Toronto came in second.

4 – Culturally, Toronto is a mecca with 100 festival, 125 museums, 50 ballet and dance companies, 6 opera companies, the third largest centre for film and TV in the world, the third largest English language Theatre market in the world. TIFF is now a worldwide scene.

5 – Toronto’s GDP is bigger than the City of Hong Kong and the entire countries of Ireland and Finland

6 – Toronto headquarters for the 5 largest domestic banks

7 - Toronto headquarters for Canada’s six largest insurers, including ManuLife and Sun which are 2 of the top 10 in the world

8 – TSX is the third largest stock exchange in North America

9 – Moodys has rated only 3 banks in North America are AAA; two are Canadian, TD and the Royal.

10 – Toronto is the third largest financial services centre in North America behind New York and Chicago

If you would like to meet; just call 647 218 2414.

Do it the Canadian way, at Tim Horton's.

I was on TV this year for my matterport 3D imaging investment.    Let's do thing MOBILE