Ryan Roberts Toronto Real Estate Blog

January 2012 Toronto Real Estate Newsletter

2012-01-19T10:40:00.000-05:00

Ryan roberts real estate broker january 2012 newsletter

9b Woodfield Road - Home For Sale - $519,000

2011-12-13T15:51:00.000-05:00

Just Listed! A wonderful, bright home steps from the all the best Leslieville has to offer as well as the Beach!

Executive Luxury Freehold Townhome In The Beach And Walk To Leslieville. Steps To The Boardwalk And Queen. Builder's Model With Many Upgrades - 9' Baseboards, Crown Moulded Ceiling, 10Ft Ceilings On Main Floor. Gas Fireplace In Large Chef's Kitchen. Ideal Space For Entertaining - 2 Walk-Outs - Large Private Rooftop Terrace. Maple Hardwood Floors. California Shutters. Close To Parks And Leslieville Farmer's Market. Large Garage With Direct Access To House.

Stainless Steel Fridge & Stove, Stainless Steel Microwave, Dishwasher, Washer/Dryer, All Electric Light Fixtures, All California Shutters, All Blinds, All Curtains & Rods, Patio Furniture, Large Planter On Deck, Cac, Built-Ins In Master.

For more information about this listing please visit my website: 9b Woodfield Road
For all of the photos and virtual tour click here: 9b Woodfield Road

Google Street View:

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Attention Tenants and Landlords of Ontario...

2011-11-10T13:45:00.001-05:00

I have recently come across some questions regarding what tenants are responsible for while renting, as well as what Landlords are responsible for. All of us at some point or another in our lives have rented, whether at university, or a flat before your first home purchase. There are many ins and outs that one needs to know...

For example:
1) How much notice must a landlord give the tenant to visit the property (in a non-emergency)?
2) How much notice of termination must a tenant provide?
3) What if a toilet seat breaks, who is responsible?

I have included a PDF from the Landlord and Tenant Board website as well as a link to their site for your information.

Know your rights whether you own the property or rent. This can save a lot of hassle.

Landlord and Tenant Board link

A guide to the ontario residential tenancies act

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November 2011 Toronto Real Estate Newsletter

2011-11-08T15:59:00.000-05:00

Ryan Roberts November 2011 Toronto Real Estate Newsletter

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November Toronto Real Estate Newsletter

2011-11-07T14:09:00.000-05:00

Here is the latest news from our market watch. One thing I would like to add to this information is that we have felt a slow down in the first week of November, approximately 3 weeks earlier than our seasonal slowdown. What we have noticed is that once a buyer has purchased there are fewer buyers coming into the buying process...ie, we are seeing less multiple offers and we are seeing houses begin to go "under asking".

Greater Toronto REALTORS® reported 7,642 home sales through the TorontoMLS® in October 2011. This represented an increase of 17.5 per cent compared to the 6,504 transactions reported in October 2010.

Monthly sales data follow a recurring seasonal trend that should be removed before comparing monthly results within the same year. After adjusting for seasonality, the annualized rate of sales for October was 97,100, which was above the average of 90,700 for the first three quarters of 2011.

"The pace of October resale home transactions remained brisk in the GTA. This bodes well for a strong finish to 2011," said Toronto Real Estate Board President Richard Silver. "Home buyers who found it difficult to make a deal in the spring and summer due to a shortage of listings have benefited from increased supply in the fall."

The average selling price through the TorontoMLS® in October was $478,137 - up eight per cent compared to October 2010.

"Sellers' market conditions remain in place in many parts of the GTA. The result has been above-average annual rates of price growth for most home types," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis.
"Thanks to low interest rates, strong price growth has not substantially changed the positive affordability picture in the City of Toronto and surrounding regions."

A Few Pics From Some Recent Travels

2011-10-29T22:10:00.001-04:00

I have had the opportunity to travel to some great areas this year. From the Rockies to the Coastal Mountains here in Canada and a brief stint in New Zealand for the Rugby World Cup. Here are a few pictures of some "accommodations" I found along the way...

Starting off with something I noticed while walking the streets of Vancouver (aside from the fact that a majority of houses are wooden), the basement floors are "above grade" something that you do not see very often in Toronto. What a difference this makes for a basement tenant (again, common in Vancouver due to the massive expensive required to purchase a home there). These basements are full of light. Instead of a 3x2 foot window at eye level you can actually have floor to ceiling windows...An example:

A quick and affordable option I came across in Kitsilano...it had a great view of the mountains and ocean...an excellent way to wake up in the morning. Or after a siesta.

Back here in Toronto, this is actually one of my favourite downtown homes, the back end appears to have been renovated in a nice modern way... (I do love red-brick century old homes):

Now on to New Zealand, I was walking along the wharf in Auckland Harbour when I happened upon a new condo development (this wasn't built during my last trip 6 years ago). I couldn't get over the parking, specifically the boat parking, there were private boat slips for the condo units, along with a private lock system. I have NEVER seen this before, I was in awe. What a way to live your life! (interestingly the car parking lot is located under the boat slip 'pond'. (the second pic shows the traffic lights for the boaters entering and exiting the locks into the harbour.)

An artist live/work space in the hills north of Auckland, the day before saw 24 sheep "cutting the grass" around the space. Very much off-the-grid:

A room with a view, perhaps we all grew out of this type of living once our childhood ended but it still stirs something deep within me ;)

Before I leave NZ, back to the ocean. Since the Rugby World Cup was in town there were many mega yachts of the world's wealthy visiting the harbour. There were some with helicopter pads, full motor boats parked inside boats, incredible. But!...this one stood out for me, it was beautiful - the wood, the shape, simply incredible. The size also blew me away, the pic doesn't do this any justice, have a look at the man at the bow, gives a little bit of an idea just how big this boat is. I have no idea how many can sleep on her, but I'm sure it could fit your friends.

Ah, a final shot, this one was snapped on the distant shores of Lake Simcoe this summer, my accommodations for a couple of dear friends' wedding...that is my suit hanging on the line ;)

Mid October 2011 Toronto Housing Report

2011-10-24T16:11:00.000-04:00

Here is the latest report for the first half of October. The market was quieter a year ago as we were seeing buyer fatigue. Many clients at the time were tired of seeing houses going in to multiple offer scenarios, so they stepped back for a breather which led to a temporary correction in prices. Only time will tell whether this happens again this year. At this stage what we do know is that quality homes are not readily available. When a good quality home that is priced well arrives on MLS there is a flurry of interest. Don't get me wrong we are certainly in a seller's market (and will be for a while) but a slight slow down is being felt due to the quality of homes. A quarter of the homes sold in our office last week went over asking, the other 75% were under. So, stay tuned to what the market holds as we head further into the fall...

TORONTO, October 18, 2011 -- Greater Toronto REALTORS® reported 3,477 transactions through the TorontoMLS® system during the first 14 days of October 2011. This total represented a 20 per cent increase over 2,890 sales reported during the first two weeks of October 2010. Year-over-year growth in new listings for the same period was slightly stronger than that recorded for sales – up 21 per cent to 6,249.

"The first two weeks of October seem to be pointing towards more balanced market conditions as we move toward 2012. Growth in new listings outstripped growth in sales, meaning more choice for buyers," said Toronto Real Estate Board President Richard Silver. "A growing number of home owners are reacting to the above average price growth reported this year and have decided to list their home for sale. They are confident they will receive timely offers in line with their asking prices."

The average selling price during the first two weeks of October was $475,743 – up 7.5 per cent compared to the same period in 2010.

"The average resale home price is expected to grow at a slower pace in the months ahead because the market is becoming better supplied. There will be less competition between home buyers as we move through the fall and winter." said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis. "With a more balanced market in 2012, the average rate of annual price growth is expected to be in the mid single digits."

Live off of your backyard?!?

2011-08-24T14:48:00.002-04:00

This is pretty cool...A little tough in a city environment however if you have 1.5-2 acres of land you can sustain yourself and your family...

http://1bog.org/blog/live-off-the-land-2/

Left Coast Housing

2011-08-16T11:39:00.002-04:00

I recently visited Vancouver. I was staying in Kitsilano... This city makes Toronto housing look affordable. Kits makes TO look downright cheap!?!

Picture a nice starter house in downtown Toronto...it's likely going to cost $650k. Now...try imagine the same quality and size (with a west coast wooden style) this starter home in Kits would cost you $1.6 million...

Toronto has many job opportunities that can provide for housing. Vancouver however relies more on international (mainly Asian) investments. In some cases one buyer will purchase multiple homes sight unseen.

Toronto is a great international city. Only when you have an opportunity to visits others do you gain this perspective. I firmly believe that TO's housing market will hold it's value over the long term.

Top 3 Coolest Things To Do In Toronto

2010-12-21T20:36:00.001-05:00

The Top 3 Coolest Things To Do In Toronto:

3. St. Lawrence Market...remember this place? Perhaps it is familiar because of childhood adventures with your folks or more recently when exploring for fresh foods. What a gem! While you are in the St Lawrence neighbourhood do a tour, there is a very interesting history to the area. Did you know that the last public hanging in Toronto was just around the corner from the market?

2. The new AGO is magnificent! I am always in awe of the glassed space that overhangs the Dundas St West sidewalk. The combination of wood and glass is incredible...oh, and the art is pretty cool too!

1. Explore the many great neighbourhoods that make up our cultural city (Central? Try Little Italy and Trinity Bellwoods area; West? Wander the streets and shops in Roncesvalles; East? Explore The Beach - endless shops and diners)

Warm In Bed

2010-12-21T20:21:00.000-05:00

Well, the cold weather is here - whether we like it or not it will be here to stay for a while.
I love jumping under my down duvet in the winter (and I don't enjoy getting out of it in the morning :)

A couple of years ago I bought a great duvet from a nice women in Parkdale. If you are looking for good advice (yes, there is a fair bit to know about feather types versus synthetic, loft etc...) Cathy can guide you for sure.

Down Facts
This is her site: Feather Factory

location: 1606 Queen St West, Toronto (Parkdale Neighbourhood)

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December Stats State: We're Still On Track For One Of Best Years!

2010-12-09T09:28:00.001-05:00

Well, it has been a quieter period of late but the news is still very positive. Let, me be more specific, the news from us the Realtors has been very positive. The stats have proven yet another good month. Keep in mind that 2009 was an extremely hot year for real estate growth in values and total transactions. It is unlikely that will be repeated for many, many years. With that in mind have a read through, you cannot deny that this is good news for the real estate owners and buyers looking to hold for the long term.

Greater Toronto REALTORS reported 6,510 existing home sales in November – down 13 per cent from 7,446 sales in November 2009. New listings were also down 13 per cent
annually to 8,642.

On a month-over-month basis, the seasonally adjusted annual rate of sales increased for the fourth straight month to 88,100. This rate was substantially higher than the July low of 67,900. “The GTA resale market has tightened since the summer. Healthy market conditions continued to support growth in the average selling price,” said Toronto Real Estate Board President Bill Johnston.

“Sales through the first 11 months of the year were down only marginally compared to the same period in 2009. We remain on track for one of the best years on record under the current TREB market area,” continued Johnston.

The average selling price for November transactions was $438,030 - up five per cent
compared to November 2009. “The average selling price in the GTA is affordable. A household earning the average income can comfortably cover the mortgage payments on an average priced home. Expect the average selling price to grow at a moderate pace over the next year,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Median: In November, the median price was $366,000, from the $353,800 recorded during November of 2009.

Excerpt Taken From Toronto Real Estate Board Market Watch

Housing Affordability Improves In The GTA (Source: MoneyVille)

2010-12-09T00:00:00.000-05:00

Housing affordability is improving in the Greater Toronto Area, thanks to lower mortgage rates and softening price appreciation.

According to a Royal Bank of Canada report to be released Monday after four consecutive quarters of steep decline, housing affordability gained traction in the third quarter of 2010, thanks to bottoming mortgage rates and a slowing demand.

“The improvement in affordability has reduced some of the stress that had been mounting in housing markets during the past year,” said Robert Hogue, senior economist with RBC.

Housing affordability measures improved for the first time since the second quarter of 2009, when sales and prices of homes started to surge in the Toronto market coming out of the recession.

Many of those sales were buyers rushing in to avoid a new Harmonized Sales Tax and to buy before more stringent mortgage regulations. This led to fears that the market was in an unsustainable bubble.

“Although triggering a fair amount of anxiety while it unfolded, the Toronto area market’s return to earth this spring was, in retrospect, a mostly benign affair,” said Hogue. “The fears were that the payback for the clearly unsustainable record high levels of existing home sales at the start of this year would be an all out rout.”

So far that hasn’t happened, as the Toronto market seems to be in for a generally soft landing.

However, affordability is not expected to improve moving into next year with the spectre of increased interest rates, says Hogue.

“The recent decline in mortgage rates, however, is not expected to be sustained much beyond the coming months of this year,” said Houge.

RBC expects the Bank of Canada to start hiking rates in the second quarter of 2011.

“Higher mortgage rates will be the dominant factor raising homeownership costs over the medium term,” said RBC. “We expect housing demand and supply to remain mostly in balance.”

Some of the increases in mortgage rates will be offset by increasing household income as a mitigating factor, says RBC.

The price of an average two-storey home was $554,700 in the third quarter. But it would take a household income of $120,400 to afford that.

Some banks raised five-year fixed mortgage rates slightly last week by a quarter percentage point, as turmoil in Europe spilled over into the bond markets. However, variable rates can still be had as low as 2.15 per cent from some lenders. A five year fixed rate is going as low as 3.45 per cent.

The RBC affordability index for a standard two-storey home has fallen to at 56.1, down significantly from the 60 points recorded in the second quarter of the year. (the lower the number, the more affordable the home)

A rise in the index means homes are less affordable. The study measures the proportion of pre-tax median income needed to service the costs of owning a home such as mortgage, utilities and property taxes. A measure of 56.1 means that it takes more than half of average pre-tax income in Ontario to pay the monthly costs of owning a home.

The long term average since 1985 has been 53.4, meaning that affordability is getting closer to a normal range.

Nationally, the RBC index is slightly above long term averages, suggesting that “some greater than usual tensions persist for Canadian homebuyers,” according to the bank.

“These tensions are unlikely to derail demand for housing in the near term, but will act as a restraint on growth and market activity going forward.”

The Toronto market, meanwhile, looks reasonable when compared to Vancouver. There it takes 78.1 per cent of pre-tax income to afford a two-storey home. But that’s down already by 4.7 points from the earlier quarter.

An average two-storey home in Vancouver goes for $766,300. To afford that, you need to be earning $149,400 annually.

Taken from MoneyVille

November 2010 Toronto Real Estate Newsletter

2010-11-13T08:05:00.002-05:00

Chinese stoke Toronto’s condo boom

2010-11-12T12:22:00.001-05:00

They have cash aplenty; they are in it for the long term, and they have taken the GTA real estate market by storm.Chinese buyers have become by far the dominant force in the new condo market in the GTA. Estimates of their impact suggest overseas Chinese investors, the 100,000-strong local community and the 20,000 to 25,000 Chinese citizens who are students resident in the Toronto area now account for anywhere from 25 per cent to 40 per cent of all new condos purchased here.

In high-end suburbs in Markham and Richmond Hill, Chinese buyers are snapping up $1-million plus homes in both the new and resale markets. In some prime downtown Toronto projects they account for 65 per cent of the sales during the first few crucial launch weeks when prices are lowest.

“Their impact is huge,” says Stephen Wong, president and founder of Living Realty Inc. in Markham.
His company’s 500 agents handle about 4,000 resales a year plus 2.500 new homes. “Our view is that today Chinese investors account for 40- to 45 per cent of all new condo sales,” says Mr. Wong.

“The fact is, they love Toronto. They see a stable, steadily growing residential market in a country with a stable economy and political structure. As long as we can create projects in great locations at reasonable prices, they will keep buying in great numbers.”

Their clout has even reached into luxury new and resale homes in areas where there is a concentration of Chinese residents, says T.C. Chan, president of Tradeworld Realty Inc. His company has 200 agents and a strong focus on Asian investors.

“Where I live in Richmond Hill and in parts of Markham, 60 per cent of luxury resales – homes selling for $1.3-million plus – are going to Chinese,” he says. “We have homes where buyers use them just twice a year when they visit Canada, yet they maintain gardeners, cleaning staff year round.

“I have seen launch days at projects like Angus Glen when they release a new series of luxury homes and expect maybe three or four people to buy over the weekend but instead 20 Chinese families snap them up.” The importance of Chinese investors is shown in the fact that there are six major brokerages now specializing in the trade and about 10 Chinese publications in the GTA dedicated to the real estate market, says Mr. Wong. There is even a professional organization: The Chinese Real Estate Professional Society of Ontario. The extraordinary interest from Chinese buyers begs a number of questions. Where are they coming from? Why are they buying in Toronto? And is the surge of investor-owned condos a good thing?

Last question first: While many people who buy a condo for their own use might feel uncomfortable living in a building where a large number of suites are occupied by short-term renters, without investor-owned suites the GTA would have virtually no rental stock available.

Experts like Barry Lyon of N. Barry Lyon Consulting Ltd. point out that, because of rent controls, about 98 per cent of new rental suites have come from investor-owned condos. Just two years ago when prices for new suites reached the stage where they made little economic sense as a rental unit, investors fled the market.

The concern then was that the GTA would face a shortage of rental suites and rents for what was available would shoot up as vacancy rates dropped. This fall, however, builders managed to cut selling prices at newly launched projects simply by reducing the size of suites.

The cost per square foot remained the same, but the price per suite was down by about 10 per cent. Once again investors could plunk 20 per cent down and see enough in rent to cover mortgage and maintenance payments with a reasonable return.

“Smart Chinese investors can get 4 per cent a year return on a rental plus a significant return on built-up equity and the natural rise in real estate prices when they sell down the line,” says Mr. Wong.

Taken from the Globe and Mail

Top 3 Downtown Streets

2010-11-12T10:25:00.001-05:00

So, this isn't quite David Letterman's top 10 but, there isn't a single weak link in this top 3, promise.

Toronto is full of some fantastic leafy streets only steps to some great parks and parkettes. Some downtown street are full of history, whether originally housing the Toronto elite, politicians there is a story behind each one.

Here are my Top 3 Downtown streets...

3. Markham Street between College Ave and Harbord houses some of the great Georgian and Victorian homes of Toronto's downtown. This street provides access to fantastic shops along College (Little Italy) and to an ever growing cafe and fine dining culture along Harbord. Take a walk north of Harbord and you will find yourself in the quaint Mirvish Village with it's converted Victorian homes - lots of culturally stimulating shops and a handful of good pubs just before reaching Bloor (the home of Honest Eds)

2. Rusholme Road - this street is the greatest kept secret in Toronto... there are many magnificent houses along Rusholme, some properties are 50 feet wide by 250 feet deep!!! Some of these houses look like they haven't been lived in decades. Queen Anne Architecture is prevalent in this stretch. The history behind this street located in Dufferin Grove Park is that wealthy horse owners used to live in the local houses with 2 story coach house and stable houses at the back (10 foot ceilings on the main floor for the horses while 6.5 feet ceilings on the second floor for the jockeys who rode theses horses at the local race track (now Dufferin Mall). It is not uncommon to see a house sell on Rusholme for 1.5 million +++ but requiring a complete renovation costing hundreds of thousands of dollars. This is a gem of street that only Dufferin Grove residents really know about.

1. Palmerston Boulevard....perhaps not a big surprise here! The globe shaped street lamps lining the street south of Ulster towards College the large gates at both the Bloor Street and College Street entrances gives this street a classical English feel unmatched in Toronto. The old mansions have acted as University of Toronto rooming houses since the 1960s. In recent years the rejuvenated interest in Toronto's downtown has brought new buyers into the area who are renovating and/or restoring these expansive homes into single family residences.

Dufferin Grove & Dovercourt Park Real Estate Sales For October 2010

2010-11-11T13:28:00.001-05:00

October was a pretty hot month throughout the core of our city. Dufferin Grove and Dovercourt Park saw a number of houses sell. That being said there hasn't been a lot of selection for buyer's to choose from. I expect that the demand will stay relatively high in our neighbourhood for months to come.

Here is the house values breakdown for the month of October:
- 10 sales
- Average value was $506,015
- Median value was $492,150
- Sale to percentage of list price: 101.7%
- Days on the market: 17
- 2 rowhouses, 5 detached homes, 1 dublex, 2 semi-detached houses were sold.

Houses on the following streets were sold:
4 on Gladstone ave, Ossington Ave, Bartlett Ave, Westmoreland Ave, 2 on Delaware Ave, Havelock Street.

Both the Dufferin Grove and Dovercourt Park neighbourhoods make up a part of the following Toronto Real Estate Board districts C1 & C2, the sales info are as follows:
GTA Sales: $443,729
C1: $408,015
C2: $801048
Days on the market: 24

CREA slashes home-sales forecast

2010-11-05T16:39:00.000-04:00

Keep in mind that this is total transactions noted here. Price and value are far more stable...

The Canadian Real Estate Association slashed sales forcast Friday, saying activity will decline this year and next. National sales activity is now expected to fall 4.9 per cent this year and sales will tumble another 9 per cent next year. Prices, however, are expected to hold up better – ending this year 3.1 per cent higher than they started before falling 1.3 per cent next year.

Lackluster economic and job growth, muted consumer confidence, and the resumption of interest rate hikes next year are the main reasons behind the lower sales forecast. Private sector forecasts vary for next year, with some banks expecting prices to fall as much as 10 per cent in the next year.
September sales data from the national association showed the average national sales price at $331,089, which means CREA believes prices will continue to fall for the rest of the year. Prices peaked in May, when they hit $346,881.

While sales are expected to cool, the number of listings is also expected to remain muted – keeping prices stable.

“Housing demand and supply is stabilizing,” said Gregory Klump, CREA’s chief economist. “That’s good news for home buyers, who will feel less hurried to make an offer than they did when transitory factors ignited housing demand in early 2010. It’s also good news for home sellers, who will feel more confident about price stability now that the housing market has become balanced.”
The organization said interest rates will move higher next year, but that they shouldn’t rise enough to keep people out of the market.

“Many households will be focused on paying down their debts before the Bank of Canada resumes hiking interest rates next year,” said Mr. Klump. “Economic uncertainty is likely to keep potential homebuyers in a cautious mood, so the continuation of low and stable interest rates is unlikely to cause housing demand or prices to swell.”

The organization next releases sales data for October on Nov. 15. The Toronto Real Estate Board released its October numbers Thursday, showing a 20 per cent drop in sales compared to a year ago. Sales were 36 per cent lower in Vancouver, its board said in Wednesday.
CREA said much of the national decline in the next year will be driven by lower demand in Ontario and British Columbia.
The Toronto board optimistically said prices have held steady because real estate in the city has “remained affordable” at an average $443,729 in October.

“The average selling price in the GTA has continued to grow relative to 2009 because home ownership has remained affordable,” said Jason Mercer, the Toronto Real Estate Board’s senior manager of market analysis. “A household earning the average income in the GTA can comfortably afford the mortgage payments associated with the purchase of an average priced home.”

The Bank of Canada doesn’t share the board’s optimism. Governor Mark Carney has warned that Canadian household debt is too high.

Speaking to the House of Commons finance committee last week, Mr. Carney said the slowdown in housing is unfolding as the central bank expected it would, given the tighter mortgage rules brought in by the Finance Department earlier this year and the fact more Canadians are retrenching after spending and borrowing with abandon amid record-low interest rates.

Still, he warned, a quicker drop is possible. That would almost certainly mean Canada would see slower economic growth than Mr. Carney's latest forecasts, which included downgrades for five consecutive quarters.

“One of the important downside risks to our projection is the possibility that there is a more abrupt correction in the housing market than we're anticipating,” Mr. Carney told lawmakers. “We're not forecasting an abrupt correction, but it is a possibility, given two factors: the speed with which house prices rose and, secondly, the absolute weight of debt in the economy that is tied to housing.”

Taken from Globe and Mail November 5, 2010

OCTOBER 2010 Toronto Housing Sales and Stats

2010-11-03T09:28:00.002-04:00

This certainly confirms what I felt in the month of October. There was a pick up in activity for both my listings and buyers. September proved to be quieter due to a late holiday start and great weather. But there numbers rolled in to improve over last October! I hope that November brings more listings as there has been very little, quality homes and condos for sale of recent.

TORONTO, November 3, 2010 -- Greater Toronto REALTORS® reported 6,681 sales
through the Multiple Listing Service® (MLS®) in October 2010. This represented a 21 per cent decrease compared to the 8,476 sales recorded in October 2009. Through the first ten months of the year, sales amounted to 75,582 – up one per cent compared to the January through October period in 2009.

“The annual change in sales and average selling prices has been quite uniform across the GTA and by property type as the market has balanced out from record levels of sales in the second half of 2009 and first few months of 2010,” said Toronto Real Estate Board (TREB) President Bill Johnston.

“The composition of GTA home sales does differ depending on location. Condominium
apartments accounted for 42 per cent of total sales in the City of Toronto and almost 60 per cent of sales in TREB’s central districts,” Johnston continued. “In regions surrounding the City of Toronto, in contrast, low rise home types accounted for almost 90 per cent of transactions.”

The average price for October transactions was $443,729 – up five per cent compared to the average of $423,559 reported in October 2009. The average selling price through the first nine months of the year was $430,802.

“The average selling price in the GTA has continued to grow relative to 2009 because home ownership has remained affordable,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis. “A household earning the average income in the GTA can comfortably afford the mortgage payments associated with the purchase of an average priced home.”

“The outlook for mortgage rates and income growth over the next year is favorable. The average home selling price could increase moderately next year and remain affordable for the average GTA household,” continued Mercer.

Free Pumpkins For Dufferin Grove Families

2010-10-26T14:50:00.000-04:00

It is that time of the year again...I will be handing out pumpkins to the first 50 Dufferin Grove families on Thursday October 28th, 2010 from 4-until out :)
At Dufferin Park Ave and Gladstone Avenue (see map)

Please come by and grab a pumpkins.

- Ryan

View Larger Map

Very Cool Graffiti On Garage In Little Italy Toronto

2010-10-26T09:41:00.001-04:00

A good friend of mine and past client just showed me his transformed garage door in his lane way. This image looks incredible. The story behind it is that a local kid had tagged the garage as "Skimpy" when they first moved in...nothing more than a tag. My client's brother and friend decided to give the tag a major upgrade to a full blown graf story... Check it out... Looks awesome!

House prices see return to normalcy

2010-10-19T15:23:00.000-04:00

A new survey says Canada's real estate market is showing signs of returning to normal as some of the uncertainty that plagued markets begins to fade away.
Royal LePage reported that house price appreciation slowed to modest five per cent growth level in the quarter – which it says is historically typical of balanced real estate markets.

It says wild swings in housing activity that were driven by economic uncertainty appear to have subsided as fears of a double dip recession or a housing bubble are set aside.
The survey found that, on a national basis, the average price of a detached bungalow in Canada rose to just over $324,531 in the third quarter – up 4.6 per cent from a year earlier.
Standard two-storey homes rose 4.4 per cent, to about $360,329, while condominium units increased by 3.9 per cent to just over $226,000.
Royal LePage said local markets like St. John's and Winnipeg posted home price increases above the national average, driven by a surge in the population.

October 19, 2010 Globe and Mail Article

‘Cautious Optimism’ Rules 2011 Housing Outlook

2010-10-18T17:49:00.000-04:00

Two well-known economists offered “cautious optimism” at the BILD Economic and Housing Outlook 2011 breakfast in Markham this week.
But Benjamin Tal, senior economist of CIBC World Markets, and Frank Clayton, consulting economist to the Altus Group, warned that the housing market will continue to soften for some time before stabilizing.
“Not everything is rosy in Canada, especially the housing market, and prices are going down,” said Tal. “This will have a significant impact on the economy as a whole.”
He predicted the housing market will continue to slow down over the next six to 12 months, with prices going down another 10 to 11 per cent before conditions stabilize. House values will rise at about the same rate as inflation after that, he said. The current adjustment period will be “painful but necessary.”
The pair also expect interest rates to remain low for at least another year and perhaps for two to three years. “But rates won’t remain low forever,” said Tal. “The current rates are unsustainable
“I doubt we will see interest rates rising in a significant way for 12 months and beyond,” said Tal, saying that today’s consumers are highly sensitive to rising rates, with the most vulnerable being the 35-plus age group with incomes of $50,000 or less. “The mortgage market is not as vulnerable as people think it is.”
He said the number of households with mortgages has fallen, but the amount of mortgages has increased.
Clayton said this year “is looking pretty good, about the same as last year,” but whenever the market weakens, new housing gets hit the hardest. When new home sales are up, resales are down and vice versa. As new home sales have been outperforming resale this year, he expects the opposite next year. He figures there will be 27,500 GTA new housing starts next year, compared to 33,500 this year. (During the “good days” of 2002 to 2008, there were about 41,800 starts a year).
“The condo market has been a lot stronger than I predicted a year ago,” he said. With 80 per cent of the sales in the first eight months of this year in Toronto, “it’s really a Toronto story.”
A number of factors will influence the housing market including employment/income, affordability, demographics, confidence, the lack of purpose-built rental housing, relative price (new versus resale), land use planning and government-imposed costs.
While Toronto has seemed to have been an island in adding jobs, he said, adding that “unfortunately I think this is going to do down.”
Clayton, like Tal, said no housing market collapse will take place, “but we are moderating.”
In the condo market, he said the owner-occupant market is slowing and will certainly be lower next year; investor buyers, who buy to rent out unit, are likely to continue to absorb new units coming on the market as long as they believe they can make money from renting, but there’s not a lot of data on these buyers.
“The investor market is not going to last forever,” Clayton cautioned, as factors like HST and rising costs will affect the rental condo market.
“The condo market is still a question mark in my mind,” he said. “I think we have too much product.”
As far as demographics go, Toronto’s population continues to grow by 100,000 people a year (nearly all immigrants), said Clayton. There is little growth in the 35 to 49 age group, which means little demand for move-up lowrise housing, and while the 50 to 59 age group is growing, they tend to stay put.
“The real growth is the 60- to 69-year-old age group,” said Clayton. “They want to downsize but a lot want ground-related housing or lowrise buildings. I think this is an untapped market for three- to four-storey condos.”
Clayton also predicted that “intensification is here to stay” and the City of Toronto has the potential to accommodate much more housing.
“I hear that low density land supply is constrained, although there is no data on that, but it should help keep the supply of housing under control,” said Clayton.
He predicted that renovation spending (both contracted and cash) will remain reasonably strong this year and next.

Taken From YourHome

Canada's economy appears to be on the mend

2010-10-18T10:58:00.000-04:00

Canada's economy appears to be on the mend

By Julian Beltrame

OTTAWA - The Canadian economy appears to be on the mend again after a major stumble earlier this summer that rekindled fears of a possible double-dip recession.

Fresh evidence that July may have been an aberration, rather than the beginning of a downward spiral, built Friday as Canadian manufacturing, housing, and U.S. retail sales all came in surprisingly strong.
The most dramatic boost came in the unlikeliest place - a strong two per cent jump in the troubled manufacturing sector in August, powered by motor vehicle, petroleum and coal product manufacturers.
As well, new orders were up 5.3 per cent in a signal of future activity.

On the heels of better-than-expected export numbers Thursday, fuelled by auto shipments, the data is the first strong news the factory sector has received in months.

Equally important, say analysts, is that the long-idle U.S. consumer is showing signs of reviving, with the third consecutive month of healthy growth coming in September, a 0.6 per cent pickup following gains of 0.7 and 0.5 per cent the previous two months.

After a swoon, the Canadian housing sector is also showing signs of stabilizing. The Canadian Real Estate Association reports home sale activity rose three per cent in September, reaching the highest level since April.

"It's a great way to end a Friday," Scotiabank economist Derek Holt said. "We've got a whole Goldilocks round of data with pretty strong growth indicators but no inflation. This is a synchronous upturn in a broad cross-section of indicators that unwinds the synchronous downturn of the prior month."

With positive data appearing for both August and last month, July appears to have been the low point of the rapid slowdown suffered by the Canadian recovery since it's quick rebound of last fall and winter months.

Not only did July result in the first real contraction of activity at minus 0.1 per cent, it also ended the string of strong job creation numbers, actually producing the first loss - 9,000 overall and 139,000 full-time - since last year.

Economists caution that while a double dip appears to have been averted, for at least the rest of the year, there is also now signs that the economy is ready to take off.

The Bank of Montreal says the latest data is consistent with growth of about 1.5 per cent during the just completed third quarter - very modest for this early in a recovery cycle from recession. http://news.therecord.com/Business/article/794558

Latest Real Estate And Economy Details

2010-10-18T10:56:00.000-04:00

There has been a bottoming out

Garry Marr, Financial Post

Rock-bottom long-term mortgage rates appear to have handed the housing sector the lifeline it desperately needs, helping to push up sales for a second consecutive month and keep prices from falling.

The Canadian Real Estate Association said Friday sales last month rose 3% from August on a seasonally adjusted annualized basis - highest since May 2010 - and the second straight month sales rose.

Meanwhile, prices have also begun to stabilize as fears of a dramatic meltdown appear to be abating. The average price of a home sold in Canada last month was $331,089, down slightly from the $331,683 average a year ago. But prices were up from a month earlier, when the average was $324,928.
"Supply and demand are rebalancing and that's keeping prices steady in many markets," said Georges Pahud, president of CREA.

The other factor keeping the market afloat are interest rates.

The Bank of Canada has signalled it will take a pause on raising its key lending rate which should keep the prime rate at most banks at 3%, affecting any variable rate borrowers.

But it's consumers on the long end of the borrowing spectrum who appear to be getting a better deal with the five-year term fixed-rate mortgage reaching an all-time low over the past month.
CREA said two-thirds of local markets last month posted sales increases with Winnipeg, Calgary and Montreal standing out. However, compared with last year, sales still lag across the country, down 19.8% in September from a year ago.

"Record level sales activity late last year and earlier this year is expected to further stretch year-over-year comparisons in the months ahead," the group warned.

TD Bank Financial Group economist Shahrzad Mobasher Fard expects falling mortgage rates to be a significant boost for the market for the near future. "They are a factor that cannot be dismissed," said Ms. Mobasher Fard. "[Current rates] won't lead to an overheating but it will support further growth in home sales and prices. The last two months of data indicate there has been a bottoming out of home-selling activity and prices."

Demand is still tepid but there has been a slowdown in new listings, which are 15% off the peak reached in April. The number of months of inventory, which represents the number of months it would take to sell inventories at the current rate of sales activity, was down to 6.6 months in September.
It was the second straight month inventory levels dropped, having stood at 6.9 months in August and 7.2 months in July.

"Mortgage lending rates eased in the third quarter, which helped support sales activity over the past couple of months," said Gregory Klump, chief economist with CREA.

"Interest rates are going nowhere fast, so home ownership will remain within reach for many home buyers."

The chief executive for Royal LePage Real Estate Services Ltd. said he was almost a bit relieved to see the latest figures.
"I was pleasantly surprised to see the year-over-year average price flat given the strength of last year's September results," said Phil Soper. "I expected a small decline in average price. It has been driven almost entirely by the low cost of money."

Read more: http://www.financialpost.com/news/rates+bail+housing/3679749/story.html#ixzz12i6nm2z1

Canada's economy appears to be on the mend
By Julian Beltrame

September 2010 Toronto Real Estate Market Stats

2010-10-09T21:53:00.002-04:00

Greater Toronto REALTORS® reported 6,310 sales through the Multiple Listing Service® (MLS®) in September 2010. This represented a 23 per cent decrease compared to the 8,196 sales recorded during the same period in 2009. Through the first nine months of the year, sales amounted to 69,069 – up four per cent compared to the first three quarters of 2009.

"The level of sales in the second half of 2010 has been lower, representing a balancing out period following record levels of sales in the latter half of 2009 and first few months of 2010. We remain on track for one of the best years in history for existing home transactions in the GTA," said Toronto Real Estate Board President Bill Johnston.

The average price for September transactions was $427,329– up five per cent compared to the average of $406,877 reported in September 2009. The average selling price through the first nine months of the year was $429,657.

"Resale homes in the GTA remain affordable," said Jason Mercer, TREB's Senior Manager of Market Analysis.

"It is important to consider the positive impact of declining mortgage rates over the past two decades. Simply considering home prices relative to incomes does not allow for an accurate analysis of affordability," continued Mercer. "The share of average household income going toward a mortgage payment on the average priced home in the GTA remains within accepted lending guidelines. This is why the average home selling price has continued to grow."

Median Price
In September, the median price was $360,325, from the $347,000 recorded during September of 2009.

The Republic Of Great Views - 70 Roehmapton Suite 1520 For Sale

2010-10-09T11:45:00.006-04:00

70 Roehampton Avenue Suite 1520 - Asking $535,000

Tridel has completed a wonderful project at Yonge and Eglinton (aka North Toronto's Downtown because of the many shops, restaurants and entertainment options). The views from this South tower 2 bedroom unit are fantastic, a clear North West vista. The balcony provides a lookout to the north, west and east (very uncommon).

This project is of particular interest (aside from being considered Canada's strongest developer) because Tridel paired up with the TDSB (Toronto District School Board) -for the first project of its kind. The project has seen Tridel build a new North Toronto Collegiate Institute school at the base of the north tower. The result is incredible!

The Republic Of Great Views - The Views From This South Tower 2 Bedroom Condo Are Fantastic, A Clear North West Vista. Lots Of Room To Entertain And Enjoy This Quiet Space Above The Bustling Yonge And Eglinton Area. Tridel Is Nothing Short Of The Best! A Block From Eglinton Subway Station, Bookstores, Movie Theatre, Great Shops And Restaurants. The Appliances, Facets Etc. All Have An Eco Touch For Those Who Are Green At Heart.

Be Sure To Check Out The Virtual Tour! Incl: Parking, Locker, Stacked Washer And Dryer, Stainless Steel Stove, Fridge, Dishwasher And Microwave

70 Roehampton Ave Full Listing Details

The unit specifics are:
2 bedrooms
2 Bathrooms
1020 sq ft
High efficeny appliances
Water saving toilets, sinks, showers (the eco friendly condo does exist!)
Parking
Locker
Includes: stacked washer and dryer, stainless steel stove, fridge, dishwasher and microwave

70 Roehampton Ave. Suite 1520 Virtual Tour

70 Roehampton Avenue Google Street View (the crane represents the new tower...)

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August 2010 Dufferin Grove & Dovercourt Park Real Estate Stats

2010-09-24T14:53:00.000-04:00

The month of August brought the following sales activity:

9 sales on the following streets:
- College Street, 2x Concord, 2x Delaware, Dovercourt, Havelock, Salem, Westmoreland.

Average sale price: $606,667

Median sale price: $539,000
List to sale price: 99%
Average days on the market: 29

Button Up Or Button Down - One Of Best Listings Of The Year!

2010-09-15T19:21:00.002-04:00

200 Clinton Street #8 - SOLD

(Warning: this is quite possibly the coolest loft in Toronto, I mean that - It is available for a price that is quite simply irresistible for what you get!!! $989,000) - for more info about this listing please visit 200 Clinton Street #8 For Sale

Enjoy the read ;)

Do you have a list of domestic wishes and desires that, by virtue of their fantastical uniqueness, have been declared by ‘those in the know’ as highly improbable to locate, especially when your objective is to ﬁnd them all under one roof? As the city’s original pioneer in the sales, marketing and development of Innovative Spaces over the past 17 years, I experience ﬁrst hand the challenge in ﬁnding those one-of-a-kind properties that are not only worthy of descriptive far more enriching than the ubiquitous ‘upgraded’ or occasional ‘original model suite’, but are truly deserving of the “so dreamy I keep pinching myself” superlative. These are the properties that come to market maybe once a decade and, if you pause too long to act you may very well not see something like it for another ten years.

So what are your domestic wishes and desires? Do you envision yourself living in a vintage brick and beam loft? You already know the city has a fairly small pool of available product, especially given you want to be in the centre of the City, but it can’t be just any loft because you really want some outdoor space…and not one of those tiny balconies that are only good for checking the weather but something expansive where you can lounge, or maybe even throw that cocktail party or wine tasting you’ve always been meaning to do. And, of course, a barbecue is essential to indulge your passion for entertaining, even though the City’s ﬁre codes are so restrictive it’s nearly impossible to ﬁnd, and don’t forget there should be enough sun-drenched space to grow those heirloom tomatoes and fresh herbs that make your culinary skills shine. And, well, now that you’re dreaming, maybe it’s a lush garden wrapped in a brick wall and your friends are drinking champagne looking at you as if you’ve just won the lottery because you’re so darned lucky.

Because even they didn’t imagine they’d walk into your vintage loft with heated stone ﬂoors, wood beams, brick walls, and ﬁnd themselves standing under a skylit roof over 26 feet high. Geez, you sigh dreamily, knowing by now that you might actually have to win the lottery in order to get a place that spectacular but, allowing yourself one ﬁnal indulgent wish that would make it so impossibly dreamy you’d have to pinch yourself…it would have a limestone shower under a moonlit skylight...

Located west of Bathurst Street north of College on Clinton Street in the Little Italy, this stylish loft is in proximity to all the amenities for urban life. Superbly situated, this residence is a short stroll to the Christie subway station or the 506 streetcar serving College Street, and just south of the Harbord Street bicycle lanes that run west to Ossington or east towards the University of Toronto and Queen’s Park. It’s around the corner to Bickford Park, and Christie Pits and Korea town are just at the top of Grace one street west. Some of the city’s very best restaurants dot Harbord Street both east and west of the property, and to the southeast is Kensington Market, regarded as Toronto’s most dynamic multicultural fresh food markets.

At the bottom of Clinton is College Street, once regaled as one of the country’s Top 5 hippest neighbourhoods. From Markham Street west to Shaw Street, there are numerous sidewalk cafes, including Kalendar Cafe, Cafe Diplomatico, Bar Italia, and Sicilian Ice Cream. There is a small plaza with a Shoppers Drug Mart and 24-hour Metro Grocer on the south side of College between Shaw and Crawford. At Clinton, on the north side, is the Royal repertory cinema, which was recently renovated and has an upgraded projection system as it is used for movie editing purposes during the day and repertory cinema in the evenings. Also at the bottom of the street are Langolina’s, Giancarlo’s and Sotto Voce, all stellar restaurants with patios. Literally, everything you require for a domestic life of bliss is within walking distance for this loft. How amazing is that?

This much-admired intimate factory conversion of only 13 custom residences was completed in 1996. Originally offered as a design/build program, each unit was offered in a base shell configuration allowing purchasers the opportunity to tailor to suit.

Sharing a mews walkway, two parking zones topped with decks and, for seven lofts, exclusive-use outdoor gardens in the former loading dock portion of the building, this charming factory was configured into condominium town houses by slicing the building into eleven segments, with two new units constructed at the back to accommodate garages underneath. In the original development program, buyers collectively influenced the common area design, which resulted in a breath-taking mews walkway secured by iron gates, independent front door colors as well as new decks and exclusive-use landscaping unique to each owner.

This special loft enjoys the rare benefit of being ideally situated in the centre of the complex midway between Clinton and Jersey Avenue. This unique aspect provides an unobstructed south-facing sun drenched vista over the neighbouring Little Italy gardens with their abundance of flowers and vegetable plantings, laundry lines and quirky sheds. This colourful sightline is enhanced on the second level where, from the master bedroom, this view is crowned with the night-lights of the CN Tower in the distance.

Consisting of two floor plates of around 1660 square feet with a private lush landscaped garden of nearly 400 square feet, this exemplary loft with secure garage and storage bay has had custom designed upgrades and betterments in excess of $250,000.

On the first level, from the mews walkways one enters into a diaphanous floor to ceiling curved linen drapery foyer with custom wood valance. Beautifully executed, these four ethereal linen panels can be opened or closed to suit.

The expansive open concept entertainment level can serve as one open space or serve multiple uses. The lounge area, with eleven-foot ceilings, has eight surround sound speakers ready for your media system, with the cable wiring located discreetly under the custom maple stairs next to a discreet powder room and recycling closet.

Beside the lounge is a two-storey atrium light well topped by a five-year new custom 8-skylight pitched roof. With ceiling heights to 26 feet, the Mooi pendant lamp spins when the two operable remote-controlled rain-sensor skylights are open, creating a dynamic ever-changing shadow pattern by night and amazing airflow. Having programmable heated slate floors, this space is great for dining, lounging or for your baby grand piano.

The custom upgraded kitchen with mahogany and white lacquer doors, gas cooking and stainless steel counters is wrapped in a vintage brick wall. Boasting wood beamed ceilings, stone floors and a custom pair of imported Italian Panto mahogany glass doors, this elegant kitchen with five-burner Bosche gas cooktop, Bosch oven and Bosch silent dishwasher plus paneled fridge has a built-in bar, plenty of storage and floating art shelf. Fully functioning for frequent dinner parties up to 16 people, this stellar space has an additional in-floor electrical outlet for those who may prefer to add a substantial dining island.

On the northwest exposure, landscape architect Dan Nuttall has professionally designed the private lush garden sanctuary. The outdoor dining pavilion has a custom stainless steel barbecue with storage for garden implements, cedar decking, original factory windows and a custom sunbrella awning. Continuing the design program of wood, stone, steel and glass, an array of plantings add a natural element to the artful pebble seating area wrapped by an original brick factory wall. Beautifully lit, this garden oasis is stunning by day or by night, with an abundance of trees in the gardens beyond, wonderful bird song and exquisite floral scents from neighbouring yards. This is superlative country living in the City.

Up the custom maple stairs with gentle-rise treads, the sun-filled atrium light well splits the upper level of the loft into two zones of domestic bliss. On the north end, a fitted utility/laundry closet serves the household, located opposite an intimate limestone washroom with rain showerhead and body sprays. Luxuriously appointed, the substantial skylight over the shower provides abundant natural light, with the added secret indulgence of showering under a full moon. It is simply magical.

The second bedroom, or study, features a painted brick wall, the rich patina of original maple factory floors and an expansive window with Juliet glass door overlooking the courtyard and neighbouring gardens. Along with a wall of closets, additional storage bays up to five feet deep provide room for your entire luggage and other miscellaneous items. A custom floor-to-ceiling bookshelf visually extends the soaring ceiling height, while the ceiling fan (one of four) keeps airflow circulating.

On the south side, the master bedroom sanctuary offers respite from the day-to-day ravages of everyday living. Featuring ample room for a king-sized bed, this maple-floored space has a full wall of custom mahogany built-in wardrobes with pullout shelving, double and single-hang bars, shoe shelves and even an ironing board. The deep soaking tub with classic chrome faucet is situated next to the atrium light well, providing a tranquil space to soak for one or two. A recent built-in sound system with DVD player, flat screen television, and two speakers provides a music or visual entertainment.

The curving wall of hand-printed wallpaper offers a soft sensual curve to this mostly linear space, and contains a raised stone-floor sky-lit jewel-box of a powder room. Note the pretty visit of the CN tower when exiting.

In the original development program, this particular loft was promoted as being smaller than it actually is. Once vacant possession of the factory was obtained and the space emptied, the developer discovered the building had been measured inaccurately. As built, the unit is of a near similar size to neighbouring Lofts 6 through 11, though the common fees for this loft reflect the original smaller size as noted in the condominium documentation. The lower monthly common fees per square foot are a hidden benefit for this particular residence.

Marrying all the benefits of a brilliant location with the patina and panache of a vintage factory, this first-time-offered loft offers the very best in lifestyle amenities. You are a hop, skip and a jump to a bike lane, a park or the popular Sam James coffee house, all just around the corner on Harbord. You're up the street from College with its cafe culture, five star restaurants, pool hall or streetcar, or just down the street from Korea town and the Christie subway. Within the interior one celebrates contemporary architecture within a vintage factory shell, all embodying the use of the natural materials of stone, metal, glass and wood. And whichever view you cast your eyes is nature, whether intensely cultivated with multiple crop rotations (I love seeing laundry flapping in the breeze) or a copse of trees, the birdsong and scent is truly breathtaking.

200 Clinton Street #8 Google Street View:

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First Home Buyer Tax Credit Info

2010-09-15T16:14:00.002-04:00

First time buyer tax credit goverment program

View more documents from Ryan.

Canada's Energuide For House Retrofit Grant

2010-09-14T13:12:00.002-04:00

Canada's Energuide For House Retrofit Grant

View more documents from Ryan.

Second Suites In Toronto (AKA Granny Flats)

2010-09-14T11:04:00.001-04:00

Second Suites in Toronto

In an effort to increase the supply of affordable housing, Toronto City Council passed a by-law last year that legalized second suites, also known as accessory apartments.

As a result, second suites are now legal in the City of Toronto in all single family and semi-detached homes, providing they meet certain criteria, including fire and building codes (see below for details).

Following is a list of frequently asked questions regarding the legalization of existing second suites and the creation of new second suites in the City of Toronto. This background information was adapted from information provided by City of Toronto planning staff. For legal and zoning information on second suites in other Greater Toronto Area municipalities, please contact your local planning department.

FREQUENTLY ASKED QUESTIONS:

What is a second suite?

A second suite is a self-contained unit (rental or rent-free) in a single-detached or semi-detached house. Most second suites are basement apartments. They have also been called granny flats, in-law suites and accessory apartments.

Are second suites new?

No! In the past, second suites were permitted in some areas of the City (York, East York, and parts of former Etobicoke, North York and Toronto). Some parts of the City have had a long experience with this form of housing. As well, provincial legislation, in force between July 1994 and November 1995, allowed for the creation of second suites in all areas of the province.

Why has it taken a year for the City's second suites by-law to come into effect?

In July 1999, City Council adopted the second suites by-law. This by-law was appealed to the Ontario Municipal Board (OMB) by a number of residents' groups and individuals. The OMB held a hearing on the appeals in February 2000. The OMB issued a decision in April approving the City's by-law but directed that two amendments be made. The amendments dealt with: (1) parking provisions in some neighbourhoods in the former Toronto, and (2) building alterations.

The final by-law was approved by Order of the OMB on July 6, 2000. As a result of the Order, the second suites by-law (including the amendments) is now in effect.

Where are second suites permitted in the City?

The new by-law permits second suites in all single-detached and semi-detached homes throughout the new City of Toronto -- with certain conditions.

What are some of the conditions that apply to second suites?

Some of the conditions include:

the second suite must be self-contained with its own kitchen and bathroom.
the house, including any additions, must be at least 5 years old;
the floor area of the second suite must be smaller than the remaining unit;
in most cases, homes with a second suite must have at least 2 parking spaces and parking can be in tandem (one behind the other). There is an exception for parts of the former City of Toronto (R2, R3 and R4 districts) where only 1 parking space is required for a house with a second suite. Please contact the City of Toronto's Urban Planning and Development Services Department to determine if a property is located in a R2, R3, or R4 district.
Before planning any changes to the outside appearance of a dwelling the homeowner should contact the City of Toronto's Urban Planning and Development Services Department; and
all new second suites must comply with the Ontario Building Code and require a building permit. Existing second suites must comply with the Fire Code as well as zoning and property standards.

How can I find out if an existing second suite complies with the regulations?

The unit will have to be inspected by Fire Department staff. There is a fee for the inspection and you may be required to upgrade the suite to meet the code requirements and other standards. Contact the City's Urban Planning and Development Services Department for more information (see phone numbers below).

Does the City provide grants or loans to encourage the creation of second suites?

There is currently no grant or loan program for second suites. The City is discussing the potential for a program with senior levels of government. TREB's Government Relations staff is monitoring this initiative and will inform members if the City implements a program.

Will a second suite impact property taxes?

In most cases, there will be little impact on property taxes. A major exception would be where the second suite is created by constructing an addition, thereby significantly adding to the value of a house.

For specific zoning, property standards, or fire and building code questions please contact the City of Toronto's Urban Planning and Development Services Department:
(http://www.torontorealestateboard.com/consumer_info/gov_programs/suite_qa.htm)

East York	(416) 397-4591
Etobicoke	(416) 394-8055
North York	(416) 395-7000
Scarborough	(416) 396-7071
Toronto	(416) 392-7522
York	(416) 394-2535

August 2010 Toronto Real Estate Market Update

2010-09-14T10:57:00.000-04:00

Greater Toronto REALTORS® reported 6,232 sales through the Multiple Listing Service® (MLS®) in August 2010.

This represented a 22 per cent decrease compared to the 8,035 sales recorded during the same period in 2009. New listings decreased by one per cent year-over-year to 10,488.

“The prospect of interest rate hikes and new mortgage lending rules prompted some households to purchase a home sooner than they otherwise would have this year. The result has been a larger than normal dip in sales over the summer months. With this said, it is important to recognize that sales on the year were eight per cent higher than in 2009,” said Toronto Real Estate Board President Bill Johnston.

The average price for August transactions was $411,012 – up six per cent compared to the average of $387,921 reported in August 2009.

“Market conditions have remained tight enough to support higher home prices in comparison to last year. Under current mortgage lending standards, a household earning the average income in the GTA can comfortably afford the mortgage payments on an average priced home. Market conditions and the affordability picture would have to change dramatically before a sustained drop in the average selling price would take place,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

11 William Carson Crescent Suite 619 - SOLD

2010-09-14T09:51:00.002-04:00

Elegant Antiquary Situated On Quiet York Mills Cul-De-Sac. Custom Designed & Built Suite-A Refined Layout Offering Superb Flow & Excellent Views To South & West. Master Br Has Door To S.Balcony As Well As Juliette & Ensuite Bath. Fam Rm Is Very Spacious & Bright, Perfect For Entertaining. Kitchen Offers Wonderful, Bright Layout W/Lrg Pantry & Separate Bar Sink. Formal Living Rm Has Balcony Perfect For Enjoying Evening Sunset. 2nd Br Has Own Ensuite & Juliette

All Elf's, Brdlm W/L, Custom Office B/I's, Stacked W/D, Stove, Fridge, Dw, Mw, All Wdw Cov., Lrg Laundry/Storage/Sewing Rm. Concierge, Pool, Workout Rm, Party Rm, Tandem Prkg (Very Close To Elevator), Dbl Locker. Security Sys In Unit.

11 William Carson Crescent Unit 619:
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Floor Plans
Interior Pictures

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28 Olive Ph12 - SOLD

2010-09-10T10:43:00.001-04:00

A Wonderful 1 Bedroom + Den Penthouse Unit At Princess Place. An Expansive Eastern View From The Living Room, Bedroom And Balcony. A Perfect Space To Relax And Unwind. Well Maintained And Cared For. Lots And Lots Of Storage! Right Around The Corner From Finch Ttc/Go Stn, No Easier Way To Get Around The City! Close To All Amenities. Be Sure To Check Out The Virtual Tour!

Upgrades: Kitchen & Bath Countertops & Hdwd Flr. Incl: Locker, Parking (Near Elevator), Fridge, Stove, M/W, Stacked W/D, All Window Coverings, All Elfs, Broadloom Where Laid. Security Gatehouse For All Visitors. 'Other' Is Balcony. Exclude Bedroom Drapes.

28 Olive Avenue PH12 Full Images

28 Olive Avenue PH12 Virtual Tour

28 Olive Avenue Ph12 Google Maps Local

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Train Wreck In The US Real Estate Market Still To Come?

2010-09-03T23:00:00.001-04:00

This video was posted earlier this year. Don Campbell President of REIN has some really good points about Canada and the state of the USA. I like Don's take on what real estate truly is. (sorry about the cut off view...not sure why the HTML code is doing this)...

10 Things You Should Know When Selling Your Home!

2010-09-03T22:51:00.000-04:00

Some key things to keep in mind with regards to selling your home:

1. How do we set a realistic price?

2. Will we be released from our mortgage obligation if the buyers assume our loan?

3. How much cash will we actually net after our selling expenses?

4. Will we have to pay a prepayment penalty?

5. What are loan discounts and points? Do we have to pay? Why? How much do points cost?

6. What is special financing?

7. How is a property shown to best advantage?

8. How do we know if the buyer is pre-qualified or pre-approved?

9. Does your state have mandatory disclosures and how do we comply?

10. What federal environmental hazards disclosures are required and how do we comply?

11. How do we protect ourselves legally?

Excerpt from: Phil Soper

City Of Toronto Tennis Courts

2010-08-24T10:08:00.000-04:00

Okay, I'm a very poor Tennis player. I'm an athlete, I can play Squash, Hockey, Rock Climb, etc...but Tennis is the ever elusive sport for me. So, I have never really gotten caught up in the activity.
After visiting The All England Club in Wimbledon this summer for a second time, watching the US Open and The Rogers Cup I'm now determined to not look the fool on the courts. It's time to improve my game!

I came across this City of Toronto PDF which shows all of the city run courts in Toronto. My closest Tennis court is Dovercourt Park, which is really nice. The 2 courts are surrounded by the park as well as a row of houses overlooking the park. Hopefully I don't end up breaking any rackets :)

City of toronto tennis brochure web

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Plans revealed for new $800M waterfront neighbourhood

2010-08-19T17:38:00.000-04:00

Waterfront Toronto unveiled plans to build a massive $800 million neighbourhood Thursday.
Developers have dubbed the new neighbourhood Bayside, which will stretch along the water from Sherbourne St. to Parliament St. Waterfront Toronto chose Hines, an American development company based in Houston, to build the project from a field of four finalists.

John Campbell, president of Waterfront Toronto, detailed the size of the project. “The proposal to revitalize Bayside is the largest single development project undertaken to date by Waterfront Toronto,” Campbell said of the area that will cover about 10 football fields.

Plans include 1,700 condominiums, office space for 2,400 jobs, a boardwalk and public access to a green roof overlooking the water. The heart of the project is Bonnycastle St., according to Stanton Eckstut, one of the principal architects. “Every neighbourhood in Toronto has one great main street, from Little Italy to Greektown,” Eckstut said, “But the key is Bonnycastle; we need to make this street work.” Cesar Pelli, the project’s lead architect, gives the plans some star power. Pelli, former dean of Yale University’s School of Architecture, designed the Petronas Towers in Kuala Lumpur. His partner, Fred Clarke, designed the World Financial Center in Manhattan.

Pelli wanted “to make the city reach the water comfortably — as part of the city, not as a foreign place. We see this is a place to live, to work, to visit, to shop, every day of the year, all day long.” The City of Toronto’s executive committee unanimously approved the project on Monday. It will be presented for final approval at the upcoming city council meeting.

If council approves the plans, phase one could be completed as early as 2014 with the entire project completed by 2021.

From The Toronto Star

Housing to drag on economy

2010-08-19T17:32:00.000-04:00

Canada's economy will continue to churn out growth, but the pace is set to slow as the housing
market cools and the U.S. economy falters, according to a Statistics Canada report released Thursday.

The agency's leading economic indicator index — a monthly gauge of where the economy appears
headed in the coming months — slowed to a 0.4 per cent increase in July, after a gain of 0.7 per cent in
June.

July's gain is the smallest recorded in 13 months and follows five steady months of increases closer to 1 per cent. “The economy is downshifting partly because of the slowing housing market,” said Sal Guatieri, a senior economist at BMO Capital Markets. The slowing U.S. economy is also dragging down Canada's leading economic indicators, Mr. Guatieri said.

“Those are two areas we need to focus on going forward — that Canada's housing market will cool too
rapidly because too much demand was pulled forward into earlier this year, and we have to focus on
the U.S. situation because there is a higher-than-normal risk of a recession,” he said.

The housing index was down 4.1 per cent from June, continuing a months-long cooling trend in
Canada's once-bustling real estate sector, as many sales were pulled forward into the first part of the
year in advance of interest rate hikes, changes to mortgage requirements and the harmonized sales tax
in British Columbia and Ontario.

Most of the slowdown in July's leading economic indicators originated in the household goods sector,
where three subsectors fell. None of the seven other components decreased.

Mr. Guatieri had predicted a gain of 0.6 per cent in July — still the lowest figure in over a year — but
said the housing market was a bigger drag than anticipated.

The sector, which once led the economy out of recession, is expected to contribute less to Canada's
gross domestic product in the second half of the year, or even become a drag on it.

The slump in home sales was also reflected in falling sales of furniture and durable goods, and
consumer spending on household goods is expected to continue to slow in the coming months.
“Consumer spending is cooling down as households focus on debt repayment or try to rebuild their
savings rates,” Mr. Guatieri said.

Waning fiscal stimulus spending, slowing export growth due to a high Canadian dollar (CAD/USDI
0.96 -0.01 -1.09%) and weak U.S. demand will also contribute to slower growth, he added.
“We won't see the type of growth we saw in the first quarter, at that 6 per cent pace that was the
strongest in a decade, because most areas will be slowing down.”

While growth is expected to slow from the unsustainable level recorded in the first quarter of the year,
the economy will continue to recover and is expected to record more moderate growth of around 2.5
per cent.

However, weaker figures stateside could prove to be a drag on Canada's economy in the coming
months.

“If the U.S. economy slows further, or worse, dips into recession, Canada's economy would also be
susceptible to a much slower outlook ... because of the very strong trade links between the two
countries,” Mr. Guatieri said.

The U.S. Conference Board, a private-sector forecaster, said Thursday its index of leading economic
indicators rose 0.1 per cent last month, suggesting growth will be sluggish for the rest of the year after
dropping 0.3 per cent in June.

And a report on U.S. unemployment insurance claims released Thursday showed that new applications
reached the half-million mark last week for the first time since November, a sign employers are cutting
jobs again as the recovery slows.

The threat of a so-called double-dip recession in the U.S. could hit Canada's manufacturing sector,
which so far continues to show a steady recovery. New orders for durable goods rose 2.2 per cent in
July, their sixth straight advance.

A second report released by Statistics Canada on Thursday found that wholesale sales declined 0.3 per
cent to $43.9-billion in June, reflecting softness in exports and pointing toward a potential decline in
the retail sector as well.

Fewer wholesale sales sent trade inventories climbing 0.6 per cent to $52.7 billion in June, their
highest level since September, 2009.

From: The Globe & Mail

Condo Status Certificate Story

2010-08-19T17:13:00.000-04:00

This is courtesy of my close colleague Richard Silver at Bosley Real Estate Ltd., Brokerage...

Within the process of listing and selling a Condominium recently, I got a bit of a run-around from a management office that I thought I might share with you: Before listing we called to order a Status Certificate and was told that the staff person dealing with Status Certificates was out of town on Holiday. We asked for a request form to fill out and dutifully wrote out a cheque for $100 and mailed both to the management office. Not having heard back from the management office we assumed that all was moving ahead as it should have been.
A week later we had five offers that we were reviewing, almost all of which were conditional on Status Certificate Approval.

I called the Management Office direct for an update and I was told: that the cost for a Status Certificate had been increased to $130 plus HST and that only a certified cheque or Bank draft was acceptable.
I insisted that the Condominium Act mandated Status Certificates at $100 and that no taxes were applicable and was chastised for my being difficult and was almost hung up on. I suggested that someone at their Head Office be called, as this is one of, if not the largest Condominium Property Management in Toronto, Del Property Management and that their information should be corrected otherwise they would be contravening the Condominium Act . A call back a few minutes later was very conciliatory…yes, I was correct that the amount was $100 and yes their were no taxes to be paid, neither GST, PST or HST…

When I offered to show up at their office with $100 cash I was told that was still not acceptable. Somehow cash is no longer legal tender? When I asked why, I was told that “cash provided too many opportunities”. I suggested that this was a staff issue and not an issue that a third party should have to make accommodations for and maybe a staff review would have been more appropriate. I do “righteous indignation” very well when provoked. Mea Culpa…
After 1/2 hour standing in line at a local bank and another 1/2 hour re-filling out the forms for the Status Certificate, I had to wait another four days for delivery. Then it was couriered to the Buyer’s lawyer in Oakville, Ontario for approval…and another 3 day wait.

There has to be a better way and I think I may have found it:

Conduit allows Realtors, Lawyers, Owners, Mortgage Companies to order Status Certificates online and have them delivered to the purchasing party in a .pdf format. The Status Certificate still costs $100 as per the Condominium Act but there is a $25.00 convenience fee and HST of $3.25 on the convenience fee…a total of $128.25….and you can pay online with a credit card (no visits to a Bank to pick up a Certified funds, no couriers, no time doing pick up or delivery). This .pdf format can be emailed to a number of parties rather than only having one copy that really should be studied by a number of involved parties withing the approval period.
This is a great idea and costs nothing for the Management Company to sign up.
Check out the site, order a Status Certificate or two and let us know how it works or…if you have already tried out this service, we’d all like to have your thoughts below. Please let us know!

Mid August 2010 Market Update

2010-08-19T13:19:00.002-04:00

TORONTO, August 17, 2010 ‐ Greater Toronto REALTORS® reported 2,732 sales through the Multiple Listing Service® (MLS®) during the first two weeks of August 2010.

This represented a 29 per cent decrease compared to the 3,832 sales recorded during the same period in 2009. New listings, at 4,770 were down eight per cent compared to the first two weeks of August 2009. “Throughout the better part of the last year, the number of monthly sales was well above the expected long-term trend. Accordingly, it makes sense that the number of transactions has dipped over the past few months in comparison to last year’s record results,” said Toronto Real Estate Board President Bill Johnston.

The average price for August mid-month transactions was $412,934 – up eight per cent compared to the average of $383,796 recorded during the first 14 days of August 2009. “We have seen a sufficient number of buyers relative to sellers over the summer months to support continued year-over-year price growth in the GTA,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

July 2010's Market - Summer Stats

2010-08-19T13:17:00.000-04:00

July is typically one of our quieter months in Toronto. Many people run off to the cottage or just soak in the rays here in the city. The activity in July reflect this as well as the sprint that a lot of sellers and buyers made prior to July 1st - HST implementation day. Unknown to many of these people was the fact that in fact it made no difference to Buyers of resale and a small difference to home resellers. It goes to show that eduction and a good advisor is important!

Greater Toronto REALTORS® reported 6,564 sales in July – a 34 per cent dip from the record 9,967 sales reported in July 2009. New listings, at 10,825, dropped to the lowest level for the month of July since 2002.
“The level of July sales remained below the expected long-term trend. The market has become more balanced following record monthly sales through most of the winter and early spring,” said Toronto Real Estate Board (TREB) President Bill Johnston.

Total sales through the first seven months of 2010 were up 12 per cent compared to the same period in 2009. Notwithstanding the fact that price trends vary at the neighbourhood level in GTA, the average price for July transactions was $420,482, representing a six per cent increase over July 2009. Over the first seven months of 2010, the average selling price was up 12 per cent annually to $432,253.

“Market conditions promoting growth in the average selling price have remained in place. While July sales were down compared to last year, the number of new listings in the marketplace also fell. This means there was enough competition between buyers to exert upward pressure on price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

In July, the median price was $361,000, from the $339,900 recorded during July of 2009.

Front Pad Parking May Not Be Permitted

2010-08-12T10:17:00.002-04:00

For those of you looking to purchase a home with the hopes up rejigging the front garden of the house please beware! The City of Toronto changed the rules for the old city back in 2004. It is very difficult to get this permission in fact it may be impossible. Be sure to do the research before you buy!!! I recently spent 20 mins on the phone with the off street parking by-law officer. The listing agent was claiming that the city would permit it whereas I didn't agree. I'm glad I did the research as the city would not permit front pad parking for a meriad of reasons.

Parking can make up 5-10% of the value of a downtown Toronto house. This is a substantial difference in price.

Also, if there is already front pad parking please note that the permit does not transfer with title, the purchaser has to apply for her/his permit upon possession. Again, this can be a little difficult when evaluating a home. So be sure a professional realtor does the research, as it is your money and dreams going into the purchase.

I have included a great brochure about off street parking in Toronto in the below SlideShare.

Off street parking in the city of toronto ryan roberts real estate broker

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The following is a link to the web site where the applications can be found along with the code governing front yard parking.
http://www.toronto.ca/transportation/offstreet/index.htm
Here you will find a link to currently licensed front yard parking locations.

Also there is a link to the Ward profile where you can enter an address and it will let you know what ward the property is in and from there you can determine if they can submit an application.
http://app.toronto.ca/wards/jsp/wards.jsp
This link takes you top the map of the City and its wards.

265 Bartlett Avenue Home For Sale $565,000

2010-08-11T10:39:00.000-04:00

Available For $565,000

Clean Lines: Professionally Renovated In Style. 3 Bedroom Semi In Established Neighbourhood. Main & 2nd Floors Rebuilt: New Kitchen, Bathroom, Electrical, Drywall, Carbonized Bamboo Floors On Main. Copper & Pex Plumbing. Near Dovercourt Park. Walk To Subway & Other Amenities. 138' (Long) Lot.
All New & Stainless Steel Ge Side By Side Fridge, Stove, Dishwasher, Vent And Full Size Front Loading Washer/Dryer. Also New High Efficiency Furnace With Warranty. Roof Replaced In 2009. Move In And Enjoy.

265 Bartlett Ave, Dovercourt Park, Toronto Listing

Google Street Maps View of 265 Bartlett Avenue (Pre-renovation picture):

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July 2010 Toronto Real Estate Market Charts

2010-08-09T09:39:00.000-04:00

Treb housing market_charts_july_2010 ryan roberts real estate broker

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A Shame - Last Carnegie Hall Tenant Forced Out

2010-08-03T17:00:00.000-04:00

An interesting article from the Globe and Mail. I cannot believe that this building is going through such a major overhall considering the famed artists who have lived here. One of the artists has had a rent control studi since 1949, she had been paying $650/month, she has 25 foot ceilings...wow.

All of her neighbours are gone, forced out. Now Elizabeth Sargent, the last holdout tenant of Carnegie Hall's towers, is preparing to leave the affordable studios that for more than a century housed some of America's most brilliant creative artists.

Red scaffolding surrounds Carnegie Hall as the city-owned towers are being gutted this summer in a $200-million renovation that includes adding a youth music program. Celebrities like Robert De Niro and Susan Sarandon had fought to save the homes, petitioning the city not to “displace these treasured artists and master teachers.”

Musicians, painters, dancers and actors thrived in the two towers built by 19th-century industrialist Andrew Carnegie just after the hall went up in 1891. The towers – one 12 stories high, the other 16 – housed more than 100 studios, some with special skylights installed to give painters the northern light they prize.

Over the years, Marilyn Monroe, Grace Kelly and Robert Redford took acting lessons here and Lucille Ball had voice coaching. James Dean studied scripts and Leonard Bernstein, music.
Women once lined up on the street to visit an alluring resident – the young Marlon Brando. His studio space on the eighth floor was demolished in early July.

Sargent, a one-time dancer noted for her boldly sexual poetry, is now in her 80s and in remission from cancer. For 40 years, she's lived on the ninth floor of the red brick southern tower above the famed stage of the 119-year-old landmark.

She has until Aug. 31 to clear out.

Sargent and other residents have waged a years-long legal battle against New York City the Carnegie Hall Corp., and a powerful, modern-day philanthropist, Sanford “Sandy” Weill, the former chairman and CEO of Citigroup. The refurbished towers will soon house an education program named for Weill, Carnegie Hall's chairman and benefactor, plus other administrative spaces, according to Carnegie artistic director Clive Gillinson.

When Carnegie Hall announced the project in May 2007, 18 studios were occupied and dozens of other artists rented teaching space.

Editta Sherman, a 98-year-old photographer, had a studio that's still filled with portraits of Hollywood and Broadway stars. She's not been allowed to sleep there since early July and must also remove her belongings by Aug. 31.

Known by her neighbours as the “Duchess of Carnegie Hall,” Sherman vowed two years ago that she'd never leave. “They'll have to drag me out,” she said.

“My whole life has been here!” said Sherman. A resident since 1949, she raised five children in a studio with 25-foot (7 1/2-meter) ceilings and a view of Central Park. Her rent was frozen at $650 a month.

Finally, the two women signed agreements with Carnegie in exchange for new midtown Manhattan apartments where rents will be subsidized by Carnegie for the rest of their lives.

“I'd rather live in these rundown rooms than any new apartment in a glass tower,” said the reclusive Sargent, speaking to a reporter by telephone from behind her studio door. She reached a hand into the hallway to retrieve a bag of groceries left on the knob by a former neighbour.

An Associated Press team toured the construction site and obtained exclusive photos and video of the tower renovation, zeroing in on controversial spots – historic parts of the building being torn down.
The old stone-and-cast-iron staircases and some original walls will survive, according to architectural plans for the towers obtained by the AP.

What's left inside is just a shadow of the bustling labyrinth of corridors, stairways and studios where modern American dance took its first steps, created by choreographers like George Balanchine and Martha Graham.

Debris now spills down a stairway leading to a rooftop studio. “SAVE” is scrawled on a wall in red, with a line to guide workers when they chop off a ceiling and skylight built in the 1890s.
In 1960, developers wanted to tear down the entire Carnegie Hall building to construct a high-rise on the site. But violinist Isaac Stern led a successful public campaign against demolition and the city bought the property for $5 million, creating the Carnegie Hall Corp. to run it.

“It's Weill's money, but it's our history – and this is the endgame here,” said actor Billy Lyons, 29, assistant to acting coach Wynn Handman, who had worked from a Carnegie studio since the early 1980s, training actors including Denzel Washington, Mira Sorvino and Michael Douglas.
The towers will be rebuilt as new music education spaces and classrooms, archives and administrative offices for the Carnegie Hall staff.

“They're erasing every piece of our cultural history, and it's not all for the children,” said Lyons. “It's for Sandy Weill events.”

Weill and his wife, Joan, have pledged $25 million toward the project – which includes a lavish rooftop terrace with a nearby dining area accessible by a glass elevator – to be named after the couple, according to a confidential legal document obtained by the AP. It's signed by Weill, his wife and Gillinson.

The rooftop plans in particular have drawn strong opposition. Preservation advocate Christabel Gough of the Society for the Architecture of the City told the Landmarks Restoration Commission last year that the towers' roofscape “should be sacrosanct under the landmarks law.”

But Carnegie Hall Corp. won commission approval for plans that preserve little inside the two structures. The landmarks commissioners are appointed by Mayor Michael Bloomberg, an ex-officio member of Carnegie's board. The city and the state have committed $50 million in taxpayer money for the project, with another $56 million coming from a Carnegie Hall bond sale.

“The main motivation is to create a music education centre where we can work with schoolchildren and talented artists,” Gillinson told the AP. He said the 60,000 square feet (5,600 square meters) of studios will now be available for programs run by the Weill Music Institute at Carnegie Hall, in partnership with the city's Department of Education and The Juilliard School. They will teach music to urban children and, by computer and satellite, to youngsters around the globe.

“This will benefit tens of thousands of people and upset a small number of people, a very small number of people,” Gillinson said. “Of course I'm sorry, and of course I'm upset, and of course we've looked after the people.”

Globe and Mail August 3, 2010

155 Dalhousie Street - 1008 - Fully Furnished Loft For Lease

2010-07-27T08:29:00.001-04:00

Merchandise Loft Conversion Gem! Gluckstein Designed Sub-Penthouse Overlooking The City! Fully Furnished Space With Style And Comfort. 12' Ceilings, Two Bedroom With Foyer Suitable For Den Or Reading Nook. Custom Floor To Ceiling Bookshelves, Gas Fireplace. Washer, Dryer, Stainless Steel Fridge, Gas Stove, D/W, Lots Of Storage. Wide Screen TV.

Fully furnished space for lease: $2600/month.

For more information, pictures and virtual tour:
155 Dalhousie Street Unit 1008 Listing Details and Pictures
155 Dalhousie Street Unit 1008 Virtual Tour

Google Street View for 155 Dalhousie Street, Toronto:

View Larger Map

New Bosley Office - 1106 Queen Street West - Beaconsfield Neighbourhood

2010-07-20T09:23:00.001-04:00

Bosley's new office on Queen west in Toronto is nearly finished...Goodbye car wash hello professional real estate brokerage serving the downtown west area! There are so many new condo developments in the Beaconsfield neighbourhood of West Queen West, there should be no shortage of real estate activity.

This office will be a super hip, contemporary space! This interior will fit in nicely amongst the many gallery's in the area. Office Manager, Mark McLean (formerly of Sotheby's fame), is leading a great group of realtors.

Here is a picture taken pre-completion, the transformation will be amazing!

1106 Queen Street West - near the Starbucks west of Dovercourt and Queen Street in Downtown West, Toronto.

Important Factors When Buying A Home

2010-07-14T10:18:00.000-04:00

What factors affect the value of a home?

* Location: Real estate people always say “Location, location, location.” That’s because the area you live in will be the biggest factor affecting your home’s price. It’s smart to buy a home where housing prices are likely to increase. Also, the people who may buy your home from you one day may be willing to pay more for a home that is close to schools, sports centres, stores, services, and so on. Keep that in mind as you look.
* The condition of the home and the property it is on: Does the home need a lot of repairs? How is the roof, plumbing, and electrical wiring? A home in good repair may be worth more. Also, the condition of the outside of the home, the lawn, gardens, driveway, and trees will all affect the value of a home. These are the first things that buyers see, and are together known as curb appeal.
* Renovations and updates: An older home might need some work to keep it safe, modern, and comfortable. If you are buying at a home that has had some renovations, check the quality. When you do work on a home you own, do it as well as you can. Poor work can lower the value.
* The economy: There are some things you can’t control that affect house prices, like interest rates. Higher interest rates mean it costs more for a mortgage, so fewer people buy homes. When that happens, the prices of homes can fall. Lower interest rates, on the other hand, can boost buying and drive prices up. House prices often go up for a while, and then come down a bit. Try to find out as much as you can about how prices are changing, or may change, when deciding to buy or sell a home. Often there will be stories in the paper about housing prices.

How much is my home worth today?

If you’re considering buying a home, or you just bought one, you know how much it’s worth. But if you’ve owned your home for a while, its value has probably changed. Here’s how you can find out how much it’s worth now:

* Call a real estate agent: Ask them for an estimate of your home’s value. You may be able to get an agent to do this for free, because they hope to get your business in the future.
* Ask an appraiser: Your bank or a real estate agent should know a number of appraisers. Banks use them to estimate house values before they approve mortgages. You can also look in the yellow pages. An appraiser will charge a fee for the service.
* Check to see what other homes in your area have sold for recently: Compare your home with similar ones that have sold. Unless you keep up with what’s happening in your area, this information may be hard to get. Ask your real estate agent if you can’t find it yourself.

How much will my home be worth in the future?

To estimate a home’s future value, you will have to do some informed guessing. Start with finding out what has happened to prices in your location over several years.

This chart shows how house and condo prices in several Canadian cities changed from 1990 to 2010. Note that real estate prices in Toronto went down a lot between 1990 and 1996 and took a number of years to climb back. Still, the average growth for these cities since 1990 was almost 8 per cent, almost double the historical average of 5 per cent a year.

Toronto
(value in 2009): $254,890
(Value in 2005): $336,176
(Value in 2010): $409,000
Total% increase, 1990-2010: 60.46
Average % increase per year: 3.02
(From CREA)

(There are more cities included in the original article on the Globe and Mail site, an interesting point is that Toronto's year on year growth is amongst Canada's lowest %...)

Chinese Buyers See Great Value In Toronto & Vancouver

2010-07-14T10:10:00.000-04:00

30 investors taking tour of Toronto and Vancouver this summer expected to drop a half-million dollars each

Half a world away, a handful of Chinese citizens are feverishly planning a Canadian real-estate shopping excursion.

A farmer, an engineer, a furniture maker and a caterer are among the 30 hopeful investors who have paid $5,500 each to take a real estate tour of Toronto and Vancouver in August. This isn't about tourism: Each of them expect to drop at least a half-million dollars on downtown condos during their 10-day visit.

While Chinese investors in Canada are nothing new, this delegation is thought by those in the industry to be one of the largest to travel in one group. The trip was put together by Ricky Zhang of TransAsia Investment Partners, a Chinese company that was created to help residents buy properties abroad, particularly in Canada.

He said it was difficult for investment groups to travel together before last December, because Canada and China didn't have a deal that allowed large Chinese tours to Canada. But with a travel agreement now in place, he said interest has increased and Chinese investors are looking to spend heavily while abroad.

"With the rising risk of the bubble bursting in the Chinese real estate market, there is a demand for overseas real estate for diversification, safety and relatively high rental yield," he said.

"The purpose for this trip is to find good deals for immigrants and investors. We do not intend to bring speculators to Canada and, during the promotion events, we always highlight on the market stability as opposed to the great volatility in China."

FMSTART Cat:e528746c-3414-401a-b14b-50247e3bdf01Forum:2d13dc33-9921-4d4a-815f-e809277631e4FMEND

To ensure investors are serious, he has deliberately set the price tag high.

"They stay in four-star hotels, eat $30 meals," Mr. Zhang said. "I am not sure if this is a really high standard in Canada, but in China it is only affordable by the upper class."

The Chinese government has discouraged its citizens from investing in local real estate, fearing that a surge of speculative buying could inflate a real estate bubble that would have dire consequences if the economy slowed.

In a sign the tighter lending standards are working, Chinese house prices fell by 16 per cent in June.

The restrictions are causing those with excess capital - a large swath of the rapidly growing middle class - to look overseas for safe havens for their capital. This is especially true as China's export base continues to grow and foreign capital pours into the country.

"The fact is, China needs to be investing more of its capital abroad," said Patrick Chovanec, a business professor at Beijing's Tsinghua University. "The fact that Chinese citizens have limited ability to invest abroad, even as they pile up earnings from exports, is one of the factors fueling a real estate bubble within China."

Canadian real estate is seen as good value in China, even though 2009's 5.2-per-cent year-over-year gain stoked fears of a bubble. But over the same period, prices in Hong Kong gained 27.6 per cent while those in mainland China gained 25.1 per cent.

Prices are expected to fall, however, as a flood of new listings and a slowdown in sales helps to cool what was a hot market. The Real Estate Board of Greater Vancouver said yesterday that sales fell 30 per cent in May compared with a year ago, while the Toronto Real Estate Board reported a drop of 20 per cent.

Support from foreign buyers could help to prop up the higher end of the market, agents suggest, because they tend to prefer properties that Canadians consider high end.

The group will visit two condo developers while in Canada - Tridel Corp., and Concord Pacific. Both have catered to foreign buyers, with several language options available on their websites, and multilingual agents to answer queries.

"You often hear they are attracted by the schools in Canada," said Jim Ritchie, senior vice-president of sales and marketing at Tridel. "The other reason tends to be that they want a place to stay when they are here, even if it's not very often."

TransAsia Investment Partners plays up Canada's education system in its promotional materials, and its representatives talked up the country's universities during its information seminars show through the Yangtze River-Delta.

"Many of the visitors are upcoming immigrants or someone who is considering immigration," Mr. Zhang said. "Therefore, most of them plan to live there or send their kids to Canada for education. All the properties we will visit are near great schools and universities. There is still a significant portion of investors looking for safety and the rental income, but this group is smaller."

Barbara Lawlor, president of Baker Real Estate in Toronto, said about 10 per cent of her sales involve foreign buyers. She tends to work with international agents, rather than directly with the foreigners, as most tend to shop from their own countries and make the purchase sight unseen.

"Having large groups come through is an interesting development," she said. "Usually we deal with a buyer's agent, but the investor portion of our market is constantly evolving as families emigrate and look for places to live."

From The Globe and Mail July 14, 2010

Canadians Bought 23% of US Homes Sold In 2010

2010-07-13T14:09:00.000-04:00

Study says Canadians have become the biggest foreign buyers of U.S. real estate

Canadians bought more U.S. properties than citizens of other countries in the last year, although financing was a hurdle for many of them.

A study by the National Association of Realtors showed Canadians bought 23 per cent of all the homes sold to foreigners from March, 2009 to March, 2010.

Mexicans came in second at 10 per cent. The United Kingdom (9 per cent), China (8 per cent) and Germany (7 per cent) rounded out the top five.

The study said there were $907-billion (U.S.) of sales in the time period studied. Foreign buyers are estimated to have spent $41-billion, or 4 per cent of that total. That means Canadians that did manage to navigate the system spent $1.6-billion on U.S. real estate.

"Although international purchasers from a wide variety of countries are present throughout the United States for a variety of reasons, proximity to the home country and the convenience of air transportation are believed to be important considerations in selecting the buying location," the study reported.

The study's appendix, however, is rife with anecdotes of buyers running into hurdles.

"Thirty-four per cent of potential purchasers were unable to complete a transaction due to financing problems," the report stated.

"Several comments illustrate the problems associated with financial transactions conducted across borders - and in these cases the country under consideration was Canada - next door to the United States."

Summer Is Here And So Is June's Real Estate Market News

2010-07-13T14:01:00.000-04:00

Summer is here! Sales were still good. Although, transactions were only up 1% over last June - but keep in mind last summer was record setting through each month. That being said our values are stronger this June versus last. The story for the remainder of the year should be moderate growth. We can likely say goodbye to the frothing months of the past. Here is the breakdown:

There were 8,442 sales through the Multiple Listing Service® (MLS®) in June. This represented a 23 per cent decrease compared to the record 10,955 sales reported in June 2009. Sales for the second quarter of 2010 amounted to 28,810 – up one per cent annually. Year-to-date sales through June were up 23 per cent to 50,455 compared to the first six months of 2009.

“We experienced a record number of existing home sales during the first half of 2010, but these sales were weighted more towards the beginning of the year,” said Toronto Real Estate Board President Bill Johnston. “The pace of home sales has moderated from record levels over the past two months with the prospect of higher mortgage rates.”

The average price for June transactions was $435,034 – up eight per cent compared to the average of $403,972 recorded for June 2009. “With more homes to choose from in the second quarter, many home buyers have been making less-aggressive offers. This has resulted in less upward pressure on the average selling price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

“The annual rate of average price growth in the second half of 2010 will be in the single digits.”

In June, the median price was $367,750, from the $345,000 recorded during June of 2009.

May Sales - Toronto Real Estate

2010-07-13T13:54:00.000-04:00

The spring season has left us and now onto Summer. This season is tyically slower than the Spring and Fall. The reason being that people like to take advantage of the great outdoors again. Vacations begin to take hold. Here is the latest:

Greater Toronto REALTORS® reported 9,470 sales through the Multiple Listing Service® (MLS®)in May, representing a one per cent dip from May 2009. In comparison to previous years, this was the third highest May sales result on record. “The pace of transactions slowed in May following record-setting sales in February, March and April,” said Toronto Real Estate Board President Tom Lebour. “Buyers who otherwise would have been purchasing a home in May moved more quickly this year, likely to get ahead of mortgage rate hikes.”

New listings were up 38 per cent annually to 18,940. The average price for May transactions was$446,593 – up 13 per cent compared to the average of $395,609 recorded in May 2009. “The gap between listings and sales has widened, which means
there is more choice for buyers,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The annual rate of price growth will slow in the second half of 2010, from the current double digit pace into the single digits.”

In May, the median price was $376,750, from the $337,000 recorded during May of 2009.

Eco Ad: Nissan Leaf With Lance Armstrong

2010-07-09T23:15:00.000-04:00

If you haven't realized yet, I love cycling. This is a good ad...

Lance Armstrong - Gotta Love What This Guy Has Done With His Cycling Career And For Cancer!

2010-07-09T22:18:00.001-04:00

Brief History Of The Tour De France

2010-07-01T08:33:00.000-04:00

This is my favourite sporting event in the world. I cannot wait for July 3, 2010 for it to begin.

255 Richmond St East Unit 127 - Available For $345,000

2010-06-16T10:56:00.000-04:00

A Fantastic Loft That Captures The Attendance Of Anyone Who Walks In. Bright, Expansive Space With 18Ft Ceilings! This Open Concept 2 Storey Loft Is Ideal For Entertaining Friends. Lots Of Storage. Great Cafes, Brunch Spots & Design Stores Within A Couple Of Blocks! Be sure to check out the virtual tour below!

Outdoor Dog Run, Steam Rm, Quaint, Peaceful S.Facing Patio W/Vines, Flowers, Lots Of Light - Perfect For Coffee & Paper On A Lazy Wknd Morning! Incl: Light From Set Of Chicago; Pkg & Locker; All Elfs; Brdlm, M/W, D/W, Fridge, Stove, W/D.

For more information and all of the great pictures click here: 255 Richmond Street East Unit 127
For the virtual tour click here: 255 Richmond Street East Unit 127 Virtual Tour

Google Street View:

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Macintosh At The Cottage

2010-06-12T20:49:00.002-04:00

This is our Yellow Labrador, Macintosh. He loves the cottage and taking a few laps then jumping in the water...Repeat...There is nooooo stopping him ;)

2010 World Cup Of Soccer Schedule Courtesy Of Ryan Roberts

2010-06-11T10:47:00.000-04:00

The biggest sporting event in the world is kicking off today. Unfortunately Canada won't be there...but, there are a lot of great countries to cheer on!

Click the link below for your copy of the 2010 World Cup of Soccer Schedule (Football as the rest of the world knows it). And feel pass to kick this along to a friend.

Enjoy the games!

http://www.mydreamtorontohome.com/account/3fb790e259eb2f60/pdfs/2010_World_Cup_Of_Soccer_Schedule_Ryan_Roberts_Real_Estate_Broker.pdf

Dufferin Grove Alternate Parking Protest

2010-06-03T16:23:00.003-04:00

As I walked home from the Common on College at Gladstone after a great Dry Cappuccino (thanks to Anna) I noticed that a number of Dufferin Grove home owners have created signage to protest the alternate side street parking from April until November each year. The city implemented a rule that half way through each month the street parking switches to the other side of the street for cleaning purposes.

Some people a clearly beginning to grow frustrated.

What do you think about this?

Good Things Happening In Dufferin Grove!

2010-06-03T15:21:00.004-04:00

I'm so happy to see that there have been some positive changes in my neighbourhood of recent. Dufferin Grove has seen some really positive growth.

The Tim Hortons at Gladstone Ave and Bloor St was a big improvement from the Colour Your World that sat there before.

The Gladstone/Bloor Public Library looks incredible in it's newly renovated and expanded state.
Ristorante Roma is under an energized new management group.

I was walking with my wife and pup the other day when we noticed that a new bar/restaurant is opening on Bloor just east of Havelock, the two young guys (one is named Matt, as I recall) seem to be pretty excited about their endeavour - they hope to open in mid-June.

Not to mention Calico, Piston and many other newer businesses popping up on the neighbourhood. I'm pretty excited to call it home!

(Oh, and the Adult Video store has closed down)

RR

May Sales Were Strong

2010-06-03T14:58:00.002-04:00

Prices are up, listings are way up and sales are actually down compared to the same month last year. You can bet when the papers tell everyone sales are down compared to last year they will neglect to mention it was still the third best May ever recorded.

Greater Toronto REALTORS® reported 9,470 sales through the Multiple Listing Service® (MLS®) in May, representing a one per cent dip from May 2009. In comparison to previous years, this was the third highest May sales result on record.
“The pace of transactions slowed in May following record-setting sales in February, March and April,” said Toronto Real Estate Board President Tom Lebour. “Buyers who otherwise would have been purchasing a home in May moved more quickly this year, likely to get ahead of mortgage rate hikes.”
New listings were up 38 per cent annually to 18,940. The average price for May transactions was $446,593 – up 13 per cent compared to the average of $395,609 recorded in May 2009.
“The gap between listings and sales has widened, which means there is more choice for buyers,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The annual rate of price growth will slow in the second half of 2010, from the current double digit pace into the single digits.”
Median Price
In May, the median price was $376,750, from the $337,000 recorded during May of 2009.

Home Ownership Gets More Expensive

2010-05-29T09:53:00.001-04:00

Canadians will find it more expensive to own a home this year and in 2011, as higher interest rates are expected to chip away at affordability even as the rise in home prices begins to subside, two of Canada's major banks predicted Tuesday. A report by RBC Economics Research released Tuesday said affordability would deteriorate throughout 2010 and 2011 as rising interest rates increase mortgage and other loan payments.

"Some erosion in affordability is going to come from higher interest rates... (meanwhile) prices continue to rise. Combine the two and I think the second quarter you should expect some further deterioration in affordability," said RBC senior economist Robert Hogue.

Canada's hot housing market is coming back into balance between supply and demand following a seller-friendly period in which buyers competed for — and drove up the prices of — the few houses for sale during the first stages of economic recovery.

As demand cools and supplies increase, the pace of price increases will slow, but won't fall fast enough to offset rising interest and mortgage rates, Hogue said.

"I'd be hard-pressed to see any kind of the recent pace in price increases being maintained, but it might not be an outright decline any time very soon," he added.

The RBC report found home ownership costs in Canada rose across all housing segments in the first three months of 2010 — the third quarter of increases in a row.

With the exception of Alberta, home affordability measures deteriorated across all provinces with significant declines in affordability in British Columbia, Saskatchewan and Manitoba. Housing affordability declined more moderately in Quebec, Ontario and Atlantic Canada.

Meanwhile, a new report from the Canadian Real Estate Association found that Canadian home prices are unlikely to undergo the type of sharp correction seen south of the border, where prices plummeted and foreclosures ensued.

The CREA report says the current period of high home prices is a natural part of the demand-driven market cycle.
"The Canadian housing market is now widely thought to be at, or very near, the top of a cycle, and the ratio of home prices to incomes is currently high," said its chief economist Gregory Klump.
The CREA report said the income-to-house price ratio will soon revert to its long-term average as it always does as part of a normal housing market cycle.
"History suggests, however, that it will not do so by means of a significant correction in home prices. The more likely scenario is that home prices will stabilize, giving incomes a chance to catch up again," Klump said.

Unlike their U.S. counterparts, Canadian mortgage holders have borrowed conservatively and are accelerating mortgage repayment, which will give options to those who may face financial difficulties when they renew their mortgage at a higher rate, the report said.

A report on housing affordability by CIBC World Markets on Tuesday suggested about 1.5 million, or 17 per cent, of houses in Canada, are currently overvalued.

CIBC senior economist Benjamin estimated that, on average, Canadian home prices are now around 14 per cent over their "fair" value, adding there would likely be a five to ten per cent price correction in the next few years.
"This pace of appreciation has been quicker than justified by housing market fundamentals such as income, rent or demographic changes," Tal wrote in the report.

"While the booming housing market is starting to come back to earth, the fact that prices are overvalued today does not necessarily mean that they will crash tomorrow," he added.

Tal's report found the average price of a house has risen by nearly 23 per cent since reaching recent cyclical lows in January 2009. And the erosion of affordability — as interest rates rise faster than prices drop — could cause problems for the most vulnerable segment of the population, he said.
CIBC's new home ownership affordability index found that home ownership is increasingly difficult for families with household incomes less than $50,000, who on average spend close to 60 per cent of their gross income on mortgage payments, property taxes and electricity costs.

The report found that Canadians today spend 15.6 per cent of their average gross personal income on mortgage payments, which is about the same as 10 years ago. When adding in electricity bills and property taxes, it rises to about 22 per cent of gross income.

Tal predicted that in the second quarter of the year, affordability will continue to deteriorate, even as prices level off. He added that home prices will fall in the second half of the year and in to 2011, which will improve affordability.

"I don't think affordability will be a major issue over the next two years. I think it will be relatively stable with interest rates rising, but prices actually going down a little bit," he said.

From the Globe and Mail

Contemporary Camden Loft Now Available - $389,000 - 29 Camden Unit 504

2010-05-26T20:00:00.002-04:00

Nestled In The Fashion District On Quiet, Possibly The Quietest Street Around. Only A Few Camden Lofts Come Available A Year. A Very Desirable Space To Call Your Own. An Open Concept Gem With Brushed Concrete Floors. Very Bright Space With High Ceilings. Steps To Queen/King West Cafes, Bars, Restaurants.

Check Out The Virtual Tour! Underground Parking Beside The Elevator! Lots Of Storage. Includes Locker, All Elfs, Stove, Fridge, Dishwasher, Window Coverings, Broadloom Where Laid. Exclude: Dining Room Mirror, Tv & Mount.

I personally love this building. You are hard pressed to find a lesser known street downtown with such a great building. Simple, smooth space. People rarely leave their units, so it is a great opportunity!

For more information click here: 29 Camden Street Unit 504 For Sale
Virtual Tour: 29 Camden Street Unit 504 Virtual Tour

Ryan Roberts, Broker, Bosley Real Estate Ltd, Brokerage - 416-519-4040

29 Camden Google Street View Map:

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Cash Flow Is King

2010-05-25T08:05:00.001-04:00

WHY FLIPPING IS NOT REAL ESTATE INVESTING

Building a real estate portfolio can mean working toward financial freedom – or it can mean taking risks that will give you more sleepless nights than days on the golf course.

The difference, according to Don Campbell, is cash flow. “I would never buy a property that didn’t have positive cash flow,” says Mr. Campbell, president of the Real Estate Investment Network. “A lot of people, unsophisticated investors, buy properties as if they were stocks – the only way they’re going to make money is if they rise in value.”

Of course, it’s great if your properties do rise in value. But this is the “buy and pray” strategy, not the best for real estate investing, says Mr. Campbell, author of 81 Financial and Tax Tips for the Canadian Real Estate Investor, released in February.

Mr. Campbell’s advice is to look for properties in areas that have a future, not a past. And don’t make the mistake of thinking they have to be close to home. Look for places where the average income is increasing, where the population is growing faster than the provincial average, areas that are in transition and where there is spending on transportation infrastructure.

Then as you add properties, think of each as a small business in its own right and manage it until it is throwing off cash. Get your expenses where you want them to be, get your rents where you want them to be, develop a good relationship with clients, i.e. your tenants, and build loyalty.

When each property reaches that “normalized state,” you can think about adding another one. Adding properties too soon, Mr. Campbell says, is a recipe for chaos and frustration.
This is where cash flow becomes most important – because if yours isn’t positive, the bank isn’t going to lend you more money.

“If you have a positive-cash-flowing portfolio, the bank adores you,” Mr. Campbell says. “It shows that you know what you’re doing, that you have the ability to manage your investments, and that you have some business acumen.”

In fact, he adds, banks are insisting on positive cash flow now for investment properties. “You know you can expand when the bank says you can expand.”

Continually manage your portfolio with this in mind, and don’t be afraid to get rid of a property if it isn’t performing. Beginning investors often make the mistake of holding on for dear life to that one money-losing investment in an otherwise healthy portfolio because they don’t want to admit they’ve made a mistake. Mr. Campbell’s advice: Sell it, even if you take a loss, use the loss wisely from a tax perspective and move on.

Another reason cash flow is king is the show of intention when it does come time to sell. Showing that you intended to hold a property as a money-making instrument may qualify for a capital gains exemption, which means you would pay capital gains on only 50 per cent of your proceeds, instead of 100 per cent.

So-called flippers and blatant speculation do not qualify, as far as the tax man is concerned.

“If you’re lining up around the block for a box in the sky that doesn’t exist – and you hope to flip it – it’s not cash flow and it’s not a capital-gain-exempt investment,” Mr. Campbell says. “Therefore you’re going to be paying a lot more tax.”

Globe and Mail Article May 23, 2010

Mid-May Toronto Real Estate Market Figures

2010-05-19T17:07:00.001-04:00

TORONTO, May 19, 2010 - Greater Toronto REALTORS® reported 4,887 sales through the Multiple Listing Service® (MLS®) during the first two weeks of May. This represented a seven per cent increase compared to the 4,561 sales recorded during the same period in 2009. New listings increased by 48 per cent annually to 10,059.

“The average household looking to purchase a home continued to benefit from affordable opportunities in the first half of May,” said Toronto Real Estate Board President Tom Lebour. "The number of done deals will remain high for the remainder of 2010, but will dip from record levels.”

The average price for May mid-month transactions was $448,641 – up 12 per cent compared to the average of $399,811 recorded during the first 14 days of May 2009. "The total number of homes currently listed in the GTA is now within a more normal range. As buyers benefit from more choice in the second half of 2010, average selling prices will grow at a slower pace," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Dufferin Grove and Dovercourt Park Sales For May 2010

2010-05-18T16:43:00.000-04:00

Dufferin Grove & Dovercourt Park Sales:

Here is the breakdown for the month of April 2010.

A total of 16 sales; 2 on Salem Ave., Hallam St., Bartlett Ave., 2 on Ossington Ave., 4 on Concord Ave., 2 on Gladstone Ave., Dufferin St., 2 on Westmoreland Ave., Shanly St.

Average home sale price was $502,886, median sale was $510,690. 3 of the sales were townhouses, 7 detached homes, 6 semi-detached.

The average days on the market was 14 (same as last month).

A Book I Liked: Liar's Poker

2010-05-06T10:27:00.001-04:00

Liar's Poker is my book of the month! It is amazing how little can actually change with time. This book goes back to the 19080's Wall Street days. No wonder the stock market investing analysis and fundementals saw such a turn for the worst a few years ago...You could see this coming back in the 80s. I cannot get over how much ego was governing decisions. What a great book!

Liar's Poker by Michael Lewis (his book Moneyball is great too) Next on my list is The Big Short

2011 To See A Drop In Values?

2010-05-06T09:41:00.001-04:00

Taken From The Financial Post (link below)

OTTAWA -- The latest housing forecast from TD Economics leaves 2010 totals for sales and prices in Canada largely the same as its previous expectations in December, though that masks a wider discrepancy it now expects between a hot first half of the year and cooler second half.

The forecasting unit of Toronto-Dominion Bank released a report on Wednesday that maintained its call for housing resales this year to rise 2.1% to 475,000, and the average price to gain 9% to $349,000.

"While sales in Q1 were slightly higher than our late-2009 forecast, we view the strength as borrowing from future sales in a move by buyers and sellers to pre-empt regulatory and interest-rate changes," TD said in its report.

The bank said that people in Ontario and British Columbia are pushing ahead with home purchases to avoid higher costs associated with harmonized sales taxes that take effect in those provinces in July.

As well, it said homebuyers across the country have felt rushed to avoid higher interest rates. Major banks have already started raising their borrowing costs, and the Bank of Canada is expected to start hiking its overnight target rate from a record-low 0.25% in June or July.

The more accelerated cooling effect during the second half of this year will lead to lower prices than previously thought in 2011, TD said. It now expects the average home price to fall 2.7% to $339,700 next year; it previously called for a 1.6% price gain.

TD said housing prices in Canada are currently overvalued by about 15%, based on longer-term economic factors such as income growth. That gap should narrow to 10% by the end of next year, it said.

The gap will close further in the following two to three years, the report said, as housing prices grow at about the rate of inflation - after having averaged 8% annual gains over the last eight years - and household incomes catch up.

Financial Post May 4, 2010

Green Commercial Real Estate Investments Look To Rise

2010-05-06T09:35:00.000-04:00

Almost two-thirds of professional Canadian real estate investors are planning to add to their portfolios over the next 12 months and are willing to pay a premium for green buildings, a global survey of the commercial property market found.

The majority of investors, or 85%, favoured making acquisitions in Canada, with Toronto the preferred location, followed by Vancouver and Montreal, the Colliers International Global Sentiment Survey said.

Canadian investors were greener than their U.S. counterparts, with 50% saying they were prepared to pay a premium for sustainable buildings compared with just 30% of U.S. investors.

The survey polled 240 major institutional investors around the globe, with 26 in Canada. Their combined portfolios were worth more than $300 billion. Worldwide confidence in the commercial real estate market is also returning, with 64% of investors planning purchases in the coming year.

Most respondents said the commercial market hasn’t yet hit bottom, but are confident of a strong recovery starting later this year.

In Canada, the gap between what sellers expect for their property and what buyers are prepared to pay is likely to start to narrow towards the end of this year, helping transactions return to more normal levels.

About 54% of respondents said they were looking to sell off underperforming assets, though 42% of them were unwilling to dispose of properties at the bottom of the cycle.

“If there is a lesson to be learned from this recent recession it would be about the importance of proper assessment of investment opportunities in the context of market cycles,” said Milton Lamb, chair, national investment team, with Colliers International in Canada. “The commercial real estate market is not a stock market where one can enter and exit so easily, which means proper research and analysis become more important than ever."

Thanks to CREA Twitter Account and The Toronto Sun

More Records Set & We Expect Sustainable Growth In 2010

2010-05-06T09:25:00.000-04:00

Here is April's real estate market update. We have seen more growth in April. As you will see below we are also expecting the year to be sustainable. The media has discussed things like: "Bubbles" and "too much growth too fast"... as always I caution all people following the market to choose a good advisor who is active in the market, someone who can guide you and keep you fully informed so that you can make a great decision. We do not see a "bubble"; we do see a slow down for the fast pace but no expectation of a drop in values in the near future.

Greater Toronto REALTORS® reported 10,898 sales through the Multiple Listing Service® (MLS®) in April, representing a 34 percent increase compared to April 2009. There were also 20,683 new listings in April – a 59 per cent annual increase. Both the sales and new listings results amounted to new records for the month of April under the current Toronto Real Estate Board (TREB) boundaries.
“The GTA resale market is functioning properly. Sales were high as buyers continued to take advantage of affordable home ownership opportunities. Listings grew as home
owners reacted to strong sales and price growth,” said Toronto Real Estate Board President Tom Lebour. “More balanced market conditions will result in sustainable rates of annual price growth in the second half of 2010.”

The average price for April transactions was $437,600 – up 13 per cent compared to the average of $385,641 recorded in April 2009. “Home sales continue to be driven by many different segments of the market, with sales growth for all major home types in both the City of Toronto and surrounding 905 regions,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “Home sales will remain strong in the second half of 2010, but will slip from the current record pace as borrowing costs rise.”

In April, the median price was $373,000, from the $330,000 recorded during April of 2009.

Sweet, Sweet Candy Factory - 993 Queen Street West, Unit 317 For Sale

2010-05-05T08:00:00.002-04:00

Available for $495,000

How Sweet It Is! Toronto's Most Desirable Loft Conversion: The Candy Factory. The Loft That Started It All On West Queen West. Trinity Bellwoods Park With It's Weekly Market Is Only A Block Away! Bright, Beautiful Brick & Beam Space With A Superbly Renovated, Hip Kitchen W/Marble Counter tops, Breakfast Island And Stainless Steel Appliances - A Must See! 12 Foot High Ceilings Only Adds The Open Concept Feel. Max In-Suite Storage Space!

Check Out The Virtual Tour! Undg Parking. 24 Hr Concierge. Incl: Hunter Douglas Blinds, Wall Mounted Theatre Speakers; Stacked Washer/Dryer; Shelves In Hallway. Excl: Dining Room Chandelier, Tv & Mount, Decorative Mirror In Living Room, Hallway Mirror.

For more information and pictures click here: 993 Queen Street West #317 Candy Factory
Candy Factory Virtual Tour

Ryan Roberts
Broker
Bosley Real Estate Ltd., Brokerage
T: 416-519-4040

993 Queen Street West - Google Street View:

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Competition Bureau misguided about MLS

2010-04-30T18:30:00.000-04:00

This is a good article taken from yourhome.ca (Toronto Start)...

Buying a home is a lot different than buying an airline ticket. Yet if you read the complaint by the Competition Bureau against the Canadian Real Estate Association (CREA), you would think it is that simple to buy or sell a home in Canada, by just using the Internet for support. Unfortunately, it is not that easy.
According to the Bureau, CREA and its member real estate boards effectively control the market in Canada, since 90 per cent of all residential home sales are completed using the Multiple Listing Service (MLS) systems, and consumers thus have no real choice in paying commissions, which, according to the bureau, is usually five per cent of the sale price. It is further claimed that the rules passed by CREA regarding use of these systems prevent anyone from offering different service models, thus eliminating choice for consumers. They would like every seller and buyer to have access to the MLS system, and be able to sell and buy properties themselves, without the services of a real estate salesperson.
No statistics are introduced by the bureau to support any of these claims. The fact is that there are other alternatives for Canadian consumers today, both within the MLS systems and outside it. There are many “For Sale by Owner” websites gaining market share across Canada, offering a flat fee service to sell your home. These include Com Free in Western Canada, Grape Vine in Ottawa and many others who participate in the National FSBO network.
Even within MLS, there is no set commission and consumers can negotiate directly with their salesperson. There are many examples across Canada where salespeople and brokerage companies charge less than five per cent commission, including flat fees.
Now that CREA has introduced changes that permit sellers to post their listings onto MLS through a realtor and not use an agent for any other service, we will see even more business models introduced by salespeople going forward, again offering more choice for consumers.
In my opinion, there is a real danger to consumers in trying to buy or sell their homes without the advice of a real estate professional. Sellers will not know how to qualify buyers who attempt to tour their home, will not understand how to properly price their home for sale and will not appreciate their obligations of disclosure of defects to unwary buyers. This will result in sellers not obtaining the maximum sale price for their homes and potentially involve them in unnecessary lawsuits from buyers.
Buyers will not know if the seller has any authority to sell the home, or whether the property is in fact in the process of being taken over by the bank. Deposits could thus be fraudulently misappropriated.
To try and understand the bureau’s position, let’s say a company bought a 100-acre lot and started selling cars, each one inspected by their certified technicians and advertised across Canada. The company was very successful. Buyers trusted them. Now a private car seller finds out that they cannot get nearly the price or exposure by selling by themselves. Should that person be able to go to the government and demand that he be put on the successful seller’s car lot, with the private seller’s name in the windshield, selling his own uncertified car to the public?
In a sense, this is what the bureau is asking regarding the MLS system, which has been built, paid for and maintained by realtors, to provide Canadians with the widest exposure, security and protection when buying or selling their home across Canada.
When you buy an airline ticket on the Internet, it costs you about $100 if you change your mind. If you make a mistake in the largest purchase decision of your life, it may cost you tens of thousands, and unnecessary legal headaches.
Now that there are new MLS rules in place, my advice to the bureau and CREA is to take some time to monitor developments over the next year, before rushing to trial, where only the lawyers win. I would be pleased to hear your own views on this very important subject.
Mark Weisleder is a lawyer, author, course developer and public speaker for the real estate industry who is an occasional contributor to Real Estate News. Visit him online at www.markweisleder.com.

http://www.yourhome.ca/homes/realestate/article/799424--competition-bureau-misguided-about-mls

Wychwood/Hillcrest Neighbourhood - Client Testimonial

2010-04-21T08:49:00.001-04:00

Ryan's sincerity and professionalism really set him apart from the other agents we had met before we started looking for our first home. His approach was simple: he really listened, never seemed too busy to talk and always came through with what he promised.
We found our dream home very quickly. It was the first we saw, in fact, but Ryan did not try to push us to buy when we fell in love just to make a sale. He encouraged us to really think about it and, when we were sure with both head and heart to proceed, he was an expert negotiator and secured our home well under the asking price in a very competitive market. We are still amazed at the result!
After we bought, Ryan made himself very available to us through every step of a very quick closing, going well above and beyond the expected after the sale was complete.
Today, happily ensconced in our perfect little home, we still can't believe we own the place and remain convinced that he is one of the best in his field.

Colin & Beth
Construction & Design
Wychwood / Hillcrest Neighbourhood
For More Testimonials Click Here

Welcome New Mortgage Rules, I Guess...

2010-04-19T16:49:00.000-04:00

The new mortgage rules take effect today... Here is the Globe and Mail's take:

Ottawa’s tougher mortgage rules have sparked a rush by home buyers to get in before the new regulations take effect Monday, but may not dampen the real estate market to the extent observers believed.

“When the new mortgage insurance rules were announced, there was widespread expectations that this could help to cool the market,” said Toronto-Dominion Bank economist Craig Alexander. “But the true impact should prove limited.”

The rule that was expected to have the most widespread effect says all borrowers must meet the qualification standards for a five-year fixed-rate mortgage, even if they choose a variable-rate mortgage or one with a shorter term.

That means that, as of Monday April 19th, lenders must test customers who seek, for instance, a three-year variable-rate mortgage or a three-year fixed-rate mortgage, and ensure that they could still afford their monthly payments if they had to pay the higher rate that applies to a five-year fixed-rate mortgage.

But the rule doesn’t apply to customers who want a five-year fixed-rate mortgage. As a result, those customers face a less stringent test, since they need only prove that they can afford the rate they are actually signing up for.

Most of those customers are able to negotiate a significant discount off of the bank’s posted five-year rate. Indeed, they are generally paying a rate that’s closer to the rate on three-year variable-rate mortgages, and that’s the one they’ll be tested at.

“So most buyers could still qualify for the same size mortgage as under the old rules, so long as they take a five-year fixed mortgage product,” Mr. Alexander said.

Because many buyers didn’t know how the rules would be applied, some jumped into the market before the change, he added. “Despite the limited impact on qualifying, the new rules likely did encourage some additional sales earlier, which will contribute to a cooling later on.”
Eric Iankelevic, a mortgage agent with mortgagebrokers.com in Toronto, said this spring has been “hands down” his busiest ever. He estimates that his business of mortgage closings, either through refinancing or new purchases, is up 60 per cent in April and May from the same two months last year.

“It has been a robust spring market and I believe that has been driven by first-time home buyers who have been made aware of the rule changes by real estate and mortgage agents,” he said.

In addition to the rule changes, higher expected interest rates and the introduction of harmonized sales taxes in Ontario and British Columbia in July are pushing people into the housing market, Mr. Iankelevic said.
While the new qualification standards might not be as strict as many people believed, they still meet Ottawa’s goals, experts say.

The government designed the new rule to help ensure that homeowners will be able to afford their mortgage payments when interest rates rise. Rising rates are less of a worry for a borrower who has locked in for five years than for those who have three-year mortgages.

“The government stressed that the rule changes were not to deflate the housing market, but rather to diminish speculation and provide greater incentive for buyers to take mortgages that were less vulnerable to rising rates,” Mr. Alexander said.

THE NEW RULES AND THEIR EFFECTS
Here are the main changes to Canadian mortgage rules, that took effect on Monday April 19:

CHANGE 1: Qualifications
Borrowers must qualify for a five-year fixed-rate mortgage, even if they opt for a lower variable rate. Previously buyers had to qualify for the higher of a three-year fixed rate or a variable-rate mortgage.

A buyer of a $337,000 home will require $9,200 more in annual income to qualify. A buyer of a $200,000 home will need to earn $5,400 more.

CHANGE 2: Refinancing
Lower the maximum amount a homeowner can withdraw when refinancing a mortgage, to 90 per cent from 95 per cent of the value of the property.

The effect? Limited, although it could dampen the purchase of some large consumer goods bought through mortgage refinancing.

CHANGE 3: Speculation
Increase the required down payment to 20 per cent from 5 per cent for insured mortgages obtained for purchasing speculative housing investments not occupied by the owner.

About 5 to 15 per cent of mortgage deals will be affected in a "significant" manner, said Toronto-Dominion Bank, which predicts the rule will "significantly reduce the risk of speculation driving the market forward."

Great Reasons To Ride A Bike!

2010-04-19T16:34:00.002-04:00

Here is a great video by peopleforbikes.org !
All I want to do is ride! What a great list of reasons....

Best & Worst Improvements For The $

2010-04-19T11:24:00.000-04:00

If you plan to sell your home in the next year, you're probably keen on finding a few ways to gin up its value. For many people that means donning an old pair of overalls, pulling out the power tools and going to work on some ambitious renovation projects.

Here's a smarter idea: Leave the work duds in the closet, the tools in the garage and the renovation plans on hold. Instead, get out a large trash can and a dust rag.

"Just clean up your act," says Chicago real estate agent Zack Sudler. "Put your junk in a storage locker, neaten, fix the wobbly ceiling fan - and do it before you call your Realtor.

An important point that many home sellers fail to realize: Their first sales job involves hiring a top-notch agent. Many of the best professional home sellers will shy away from putting a lot of time into selling your home if it's a mess.

The only home improvement Sudler recommends is painting. Even there, he advises limiting the work to covering blemishes and repainting any rooms that have overly bright or outdated colors.

On the bigger pre-sale improvement projects, real estate pros tend to have a fairly uniform view: They're rarely worth the money and effort. For most, the value added is a mere fraction of the cost.

To be sure, home renovations can have enormous benefits - to residents rather than sellers. Air conditioning or a new kitchen might dramatically improve your lifestyle. But the incremental amount a buyer will pay for a home after such projects are completed is likely to be well below the seller's cost.

"We've seen homes where sellers have contractors still toiling away when the open houses start," says Patrick Lashinsky, chief executive of San Francisco-based realty agency ZipRealty. "It's a nightmare."

The National Association of Realtors (NAR) conducts an annual survey of its members in 80 cities that is created by Remodeling magazine and used to estimate the return on investment for 33 home improvement projects. The 2009 report concluded that, on average, for every US$1,000 homeowners spend on projects, they get back $638.

Even projects normally hyped as sure bets for adding value generate surprisingly weak gains, NAR reports. Converting an attic into a bedroom, for example, is typically regarded as garnering interest among potential buyers who might have otherwise disqualified the home from their search. An extra bedroom will indeed add value - just not for the majority of people who spend on the conversion. NAR figures homeowners recoup $831 on average for every $1,000 they invest.

Kitchens and bathrooms remain two of the most popular upgrades, and do have among the best returns on remodeling investments. But even for these rooms, mid-range jobs, which offer the highest returns, yield only about $720 and $710, respectively, on average, for each $1,000 invested.

The only investment that tends to get more out of buyers than sellers put into it is a heavy, insulated steel entry door, according to the NAR/Remodeling survey. Spend $1,000 on such an upgrade and you're likely to add $1,289 to your sale price.

If you're looking for examples of ways to waste money on renovations, there are lots of choices. Remodeling a home office yields just $481 for every $1,000 invested. Buying a backup power generator (perhaps from the likes of Honda or Briggs & Stratton) will add only $589 for each $1,000 invested.

All this is anathema to retailers like Home Depot, Lowe's, Bed, Bath & Beyond, Williams-Sonoma and Lumber Liquidators. They all benefit from the myth that pumping money into your house pays off later on the auction block. So do buildings materials firms like Chicago-based USG, maker of the popular Sheetrock brand of gypsum wallboard.

Lashinsky says that on occasion, buying a new appliance for your home can pay off - if the one being replaced is so horribly out of date that it unsettles potential bidders. The agent has a long list of bad ideas to avoid. Among them: Converting a bedroom into a home office and yanking out the closet to make the room look bigger.

"In quite a few states, you're not allowed to list that as a bedroom anymore," he says. Such renovations can be expensive and result in the loss of bidders who need the extra bedroom.

Lashinsky's choice for all-time worst renovation: A family that tore out a long wooden stairway leading up to their lovely hillside home and replaced it with a newly paved path. They made the change right before putting the home on the block in mid-winter, and the path kept icing over.

"People who wanted to see the house literally couldn't get up the path," says Lashinsky. "They kept sliding back down every time they got near the place."

From www.Forbes.com

Madison Lofts Listing - 380 MacPherson Unit 421 - $409,900

2010-04-19T11:01:00.004-04:00

Madison Lofts: Toronto's Art-Deco Secret Nestled At The Base Of Casa Loma. A Welcoming Atmosphere With Soaring Ceilings And An Inviting Western View From The Juliette Balcony. Steps To Dupont Subway Station. This Contemporary Converted Loft Has Fantastic Amenities To Suit Everyone's Needs. This Bright One Bedroom Plus Den, (960 Sq Ft) Is Perfect For Entertaining Friends. Parking And Locker Included! Shows Like New! See The Virtual Tour .

Includes: Stainless Steel - Fridge, Stove, Microwave; Stacked Washer/Dryer; Dishwasher; Exhaust Fan. Excl: Edison Lights In Dining Room, Living Room Chandelier, Tv And Mount, Den Shelf Wine Fridge.

For more pictures and information click here

Google Street View:

View Larger Map

Liberty Village Client Testimonial

2010-04-19T08:47:00.000-04:00

Ryan was a tremendous support in our move and I appreciate the time he invested to understand our needs, even though we weren't clear on them ourselves. Ryan has gained our trust as a knowledgeable, direct, passionate Realtor with a passion for the business. I would recommend him to anyone. Ryan encouraged us to think about what would make us happy, and would caution us from jumping on decisions that weren't in-line with what was really important to us. We now live in a townhouse that fits all of our items on the "wish list". Thanks Ry!

Liane Harrison and Lee Taylor
Liberty Village - King West, Downtown Toronto

Janes Walk At Dovercourt Park

2010-04-16T14:14:00.000-04:00

Date: Sunday, May 2, 2010

Start Time: 2:00 pm

Est. Duration: 1.5 hours

Explore the intriguing past of a typical Toronto streetcar neighbourhood developed in the late 19th and early 20th Century.

Highlights include a discussion of the area’s classic planning template which includes a park at the centre, a commercial strip at Dovercourt/Hallam, and corner stores that interact with the sidewalk. We’ll also talk about the history of place names like Dovercourt and Hallam and find out about some interesting people that have come from the neighbourhood including Marilyn Bell.

Lewis Poplak (MCIP, RPP, LEED AP, B.Arch) is Director of Development at Contex

Jane's Walk

Janes Walk At Dufferin Grove Park

2010-04-16T14:06:00.002-04:00

Date: Saturday, May 1, 2010

Start Time: 11:00 am

Est. Duration: 2 hours

This rather ordinary-looking mid-sized neighborhood park, a block south of the Dufferin subway station, is bounded by a high school, a shopping mall, a heavy-traffic arterial road, and a mix of pre-WW1 houses. Despite the ordinariness, the park is unusually lively, and this walk will show how and why.
Park friends will be stationed in various parts of the park—at the bake ovens (baking), the marsh fountain (with gardening), the cob courtyard (working on the cob wall), the adventure playground (junior builders), the park clubhouse (with early-days accounts), the outdoor rink (playing ball-hockey and skateboarding), the campfire circles (cooking over the fire), the puppetry fieldhouse (building puppets), and in many of the other places where things happen at the park.
City policy documents will be posted at some stations, showing which elements of these fun activities are currently against the city rules (or not). The policy postings add a bit of suspense to the tour. Will Toronto parks succumb to death-by-policy or will that power gradually be diluted by people’s unbowed resolve to befriend their public spaces?
There will be food at the ovens and the outdoor kitchen, maybe some music and other impromptu hijinks, stories, lots of opportunities for play (balls and hockey sticks and shovels to borrow)—and always the possibility of conversation with park friends, about what makes a park neighbourly.
This Jane’s Walk tour will run as a wandering self-guided tour that you can do at your own pace by visiting the various ‘stations’ in the park. You can begin at the Dufferin Grove Park clubhouse at 875 Dufferin Street, one block south of Bloor Street. Come to the front doors and park friend Jutta Mason will get you started. You can explore the various stations in any pattern or pace you want.
As well, from noon to 2 there will be pizza-making at the ovens, and from 5 to 7 (for stragglers) there will be a campfire with good food. The park friends are going to use this occasion as an old-timer reunion as well!
This walk is especially suitable for three kinds of people: (1) children, (2) hands-on, how-to, DIY people and (3) people who want to talk about community engagement in public spaces. To get a map of the ‘stations’ go to dufferinpark.ca

Moving?

2010-04-07T17:22:00.000-04:00

A visual to help demonstrate why someone should hire a moving company or give your friends a call on moving day (with the offer of free food and drinks of course!)...

Eco Home Quick Tip - Time Of Use Rates

2010-04-07T14:51:00.000-04:00

Toronto Hydro - Peak Hours

Consumer costs have risen by 7% because of the new time of use rates! Now, more than ever, let's use our power wisely! For the full breakdown on how you can save click here

Dufferin Grove and Dovercourt Park Sales For March 2010

2010-04-07T14:47:00.000-04:00

Dufferin Grove & Dovercourt Park Sales for March 2010 :
Yet another strong market performance for the Dovercourt Park and Dufferin Grove neighbourhoods.
Here is the break down of house sales in the area for March 2010.

A total of 14 home sales; 3 on Dufferin, Bloor, 2 on College, 2 on Delaware, Dovercourt, Gladstone, Hallan, Havelock, 2 on Ossington

The average home sale was $603,458, median sale was $526,659. Eleven of these houses were semi-detached, three were detached. The average home was on the market for 14 days.

--------

Both the Dovercourt Park and Dufferin Grove neighbourhoods make up a portion of
C1 & C2 Toronto Real Estate Board Regions. Here are the stats for both areas.

TREB C1 for March 2010: 1,025 Sales; Average sale price of $414,898; Median price of 362,500
TREB C2 for March 2010: 191 Sales; Average sale $803,418; Median price of $582,013

Call your neighbour and realtor, Ryan Roberts when you want to list. He knows and loves the neighbourhood and is committed to professionalism.

46 Shannon Street For Sale - Dufferin Grove

2010-04-07T10:28:00.000-04:00

A great Dufferin Grove home that has seen a lot of improvements made. This house is available for sale at $779,000. For more information about this house at 46 Shannon click here

March - Another Record Setting Month In Toronto!

2010-04-07T08:48:00.000-04:00

Another record setting month for Toronto Real Estate. I suspect that we will continue on this trend for a number of months to come. The next paragraph really sums up the success in the market.

10,430 sales through the Multiple Listing Service® (MLS®) in March, pushing total first quarter 2010 sales to 22,418 – the best result on record under the current Toronto Real Estate Board (TREB) boundaries. The average price for March transactions was $434,696. The average price for the first quarter was $427,948.

“The strong rebound in the existing home market was one of the initial drivers of economic recovery,” said TREB President Tom Lebour. “While we don’t expect to see the same rates growth moving forward, GTA households will remain confident in ownership housing as a quality long-term investment, especially as economic recovery expands across all industries.”

The annual rate of growth for new listings continued to accelerate in March. The number of new listings grew by 42 per cent compared to March of 2008. “The average home price in the GTA will continue to grow this year, but the pace will slow as we move through the spring,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “As growth in new listings starts to outstrip growth in sales, buyers will experience more choice, resulting in more sustainable single digit rates of average price growth."

Toronto Housing Market Charts - March 2010

2010-04-07T08:30:00.000-04:00

The Toronto real estate market is incredibly hot. We just set records for average value, amount of sales for the month of March. This strength should continue for a while to come. Here are the charts:

Treb Housing Market Charts March 2010 Ryan Roberts Bosley Real Estate Toronto

View more presentations from Ryan.

No More Eco Energy Retrofit Program

2010-04-01T11:18:00.000-04:00

The popular ecoENERGY Retrofit program that provides grants of up to $5,000 to Canadians who make their homes more energy efficient has come to an abrupt end.

Homeowners who had already booked an appointment for a pre-retrofit evaluation before the Natural Resources Department announced the program’s demise Wednesday remain eligible to apply for a grant. But no further bookings will be considered.

“The remaining $300-million for homeowners currently in the program will continue to support our home renovation industry and deliver both economic and environmental benefits from coast to coast to coast,” Natural Resources Minister Christian Paradis said in an e-mail.

“We have a responsibility to taxpayers to ensure the program operates within its existing budget and no longer accepting new bookings for pre-retrofit evaluations is the kind of prudent fiscal management Canadians have come to expect from this government.”

“ But if you haven’t got your energy audit done, you are out of luck. There is no rebate for you. It’s a completely arbitrary date. We have never heard this date before. ”— Liberal MP David McGuinty

The federal budget released on March 4 promoted the program. “Due to unprecedented demand under the ecoENERGY Retrofit – Homes program, the government is allocating a further $80-million to support additional retrofits by Canadian homeowners,” the budget documents said.

The program, which is conducted in co-operation with the provinces, stipulated that a post-retrofit audit had to be completed by March 31, 2011. But, until Wednesday, there was no deadline for the initial application.

“They are saying they are not killing it since it still technically goes until March, 2011,” Liberal MP David McGuinty said Wednesday. “But if you haven’t got your energy audit done, you are out of luck. There is not rebate for you. It’s a completely arbitrary date. We have never heard this date before.”
His Liberal colleague Geoff Regan, the Natural Resources critic, said the loss of the program is going to be a huge disappointment to a lot of Canadians who were planning on making their homes more energy efficient this spring or summer.

“It is strange for the government to include $80-million in the budget and then a few weeks later kill the program,” Mr. Regan said.

“This will also have a ripple effect across the economy. … I suspect this is one of the consequences of having a government which has run up a record $56-billion deficit last year and more massive deficits in the next few years. It's too bad that homeowners will be the ones to suffer.”

Globe & Mail

Neighbourhood Name Change: Junction Triangle

2010-03-28T17:28:00.001-04:00

It's official, it's no longer fuzzy! The neighbourhood once named after an intersection has chosen an identity. Gone with Wallace Emerson, in with "Junction Triangle". The triangle notion comes from the 3 sets of railroad tracks that frame the area. (also formerly known as the iron triangle...but thankfully this didn't stick).

After two rounds of voting and whittling down more than 230 names, residents of a west-end Toronto neighbourhood went with tradition when it came to choosing a moniker for their fuzzily defined area.

The name "Junction Triangle" got the most support out of the 10 names in a final round of voting last weekend, marking the end of the "Fuzzy Boundaries" neighbourhood-defining project. It got 314 votes out of a total of 674 - more than twice the two runners-up.

Excerpt from Globe & Mail

Want To Commute?

2010-03-26T11:11:00.001-04:00

Just read an article in the Report on Business from the Globe and Mail (April 2010). The average Canadian spends almost 12 full days a year - 63 minutes daily - traveling to and from work. But ask Torontonians how long they spend in transit and the time estimate doubles (of those surveyed).

I really couldn't imagine living outside of Toronto or on the outskirts for that matter..the commute would be pretty tough. No wonder the real estate values in Toronto are so strong and continue to rise.

Major Fixer-upper

2010-03-25T14:22:00.000-04:00

I was just reading the New Yorker when I came across a real estate related comic. Pretty funny. It isn't easy going through a small renovation let alone a big renovation with a partner.

From: March 22, 2010 Edition of The New Yorker

1st Annual RyanRoberts.ca Hockey Game

2010-03-22T11:47:00.002-04:00

Thanks to all of you who came out on Saturday night! I had a lot of fun! Perhaps an hour and forty-five minutes is a little too much hockey for our old bodies! For a selection of pics check out the photo album on my Facebook Page

Mid-March Market Update

2010-03-18T10:26:00.003-04:00

Okay, maybe not like March Madness, I just like the sound of that. It has been another strong month of sales, but no buzzer beaters here. March is an interesting month as March break takes up at least one week (two for private schools) - Easter is also close to the march break this year which will have people spending more time with their families. The weather has been amazing to date which has people thinking positivly after the winter blahs & it will have them prepping their homes to sell. I suspect that over the next 3 weeks we will see a lot of new homes come available.

TORONTO, MARCH 17, 2010 - Greater Toronto REALTORS® reported 4,353 sales through the Multiple Listing Service® (MLS®) during the first two weeks of March. This represented a 70 per cent increase compared to the 2,562 sales recorded during the same period in 2009 when resale transactions had dipped markedly due to the recession. The mid-month sales total was also 16 per cent higher than the previous March mid-month high reached in 2006.

“The spring-like weather in the first half of March brought the first green sprouts of the recurring spring market. Every year, monthly sales climb steadily through May,” said Toronto Real Estate Board President Tom Lebour. "People are buying homes because they are confident in the current economic recovery and mortgage payments on the average priced home remain affordable."

The average price for March mid-month transactions was $440,153 – a 20 per cent increase over 2009. New listings within the Toronto Real Estate Board boundaries were up 34 per cent to 8,540.

"Look for double-digit annual price increases to cease later in 2010, as new listings rebound from the low levels experienced in 2009," said Jason Mercer, TREB's Senior Manager of Market Analysis. "Increased listings will give buyers more choice, resulting in less upward pressure on home prices.”

Proposed Toronto Residential Tax Increase

2010-03-10T11:59:00.002-05:00

Mayor David Miller announced today that he would lower the proposed residential tax increase to 2.9 per cent from 4 per cent.
The move comes after Mr. Miller announced that through more accurate year-end accounting, the city will have a budget surplus more than $100-million than originally forecast.
Mr. Miller said the city's surplus from 2009 turned out to be $350-million, including $31-million in strikes savings.
"The growth in the surplus comes from many areas," he said, including cost containment, wage restraint and higher than expected investment returns.
According to the mayor, the reduced tax hike would save an average of $23 per household, based on a city average of $400,000 home cost.

Excerpt from the Globe and Mail

Bosley Real Estate Ltd. Is Opening A New Office On Queen Street!

2010-03-09T10:20:00.002-05:00

Bosley Real Estate is opening a new, very hip, office this spring on Queen Street West - right in the heart of the artistic hub of Toronto. The Bosley office will be located a few shops west of Dovercourt. It is very exciting as this demonstrates the home value growth in the Toronto downtown west area and the strength of Bosley's rich history of developing strong realtors in Toronto.

The office will service Dufferin Grove, Ronci, Beaconsfield, Parkdale, Trinity Bellwoods, the Condos on King and Queen as well as Littly Italy.

Stay tuned for more information.

Dufferin Grove & Dovercourt Park Real Estate - February 2010

2010-03-08T16:15:00.000-05:00

Yet another strong market performance for the Dovercourt Park and Dufferin Grove neighbourhoods.

Here is the break down of house sales in the area for Feb 2010.
A total of 8 sales:
- 4 on Ossington Avenue
- 2 on Hepbourne Street
- Concord Avenue
- Delaware Avenue

The average home sale was $500,288, median sale was $491,500.
7 of these houses were semi-detached, the 8th was a townhouse.

The average home was on the market for 12 days.

Both the Dovercourt Park and Dufferin Grove neighbourhoods make up a portion of C1 & C2 Toronto Real Estate Board Regions. Here are the stats for both areas.

TREB C1 for Feb 2010:
365 Sales, Average sale price of $420,899; Median of $419,508

TREB C2 for Feb 2010:
59 Sales; Average sale price of $781,733; Median of $773,069

If you have any questions please feel free to contact me, Ryan Roberts.
The neighbourhoods are from Dufferin to Ossington, Dupont to College.

Dufferin Grove & Dovercourt Park Real Estate - January 2010

2010-03-08T16:14:00.001-05:00

January has kicked off what will be another very strong year of sales in the downtown core of Toronto.

Here is a breakdown of the Dufferin Grove and Dovercourt Park communities in downtown Toronto for the month of January 2010.

There 5 house sales in the area.
- 2 on Delaware Avenue
- 2 on Westmoreland Avenue
- 1 on Dufferin Street

The average sale price was $560,720; Median price of $599,900; days on the market average was 33 (due to Christmas/holiday seasonal slow down).

The TREB C1 & C2 stats are as follows:

TREB C1: 210 sales, average value of $416,857; median home price of $363,650

TREB C2: 33 sales in the month of Jan.; Average sale of $757,579; Median value of $585,000.

If you have any questions please feel free to contact me, Ryan Roberts.
The neighbourhoods are from Dufferin to Ossington, Dupont to College.

Up 19% Year Over Year

2010-03-08T09:56:00.000-05:00

Greater Toronto REALTORS® % reported 7,291 sales through the Multiple Listing Service® (MLS®) in February, representing a 77 per cent increase over February 2009. The average price for these transactions was up 19 per cent year-over-year to $431,509. Sales and average price increases represent both increased demand for ownership housing and the base year effect, which involves a comparison of economic recovery this year to a period of economic decline last year.

“Increases in existing home sales and average price were noted across the GTA in low-rise and high-rise home types. Similar rates of growth were experienced in the City of Toronto and surrounding 905 regions,” said TREB President Tom Lebour. “This suggests that first time, move-up and down sizing buyers are all active in the existing home marketplace.” New listings also increased in February, climbing 24 per cent compared to the same month last year. “Annual growth in new listings is expected to continue. New listings growth will start to outstrip sales growth as we move through 2010,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “As the market becomes better supplied, we will see more sustainable single digit rates of price growth.”

Vancouver Olympics...Such Nice Memories

2010-03-03T16:32:00.002-05:00

I just came across this video on the Globe and Mail website. The music is cheerful and the scene on Robson is so exciting! This dance pack is fun and they are sporting the red mittens that seemed to sell out as soon as they landed at The Bay

I hope Toronto gets the Summer Olympics some day soon!

A link to this song (figured I would add it as I searched for a while)...I seem to hum this song every morning when I wake up, pretty catchy.
http://itunes.apple.com/ca/album/dont-let-your-feet-touch-ground/id318026128

Ryan Roberts Toronto Real Estate Blog

January 2012 Toronto Real Estate Newsletter

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Attention Tenants and Landlords of Ontario...

November 2011 Toronto Real Estate Newsletter

November Toronto Real Estate Newsletter

A Few Pics From Some Recent Travels

Mid October 2011 Toronto Housing Report

Live off of your backyard?!?

This is pretty cool...A little tough in a city environment however if you have 1.5-2 acres of land you can sustain yourself and your family...http://1bog.org/blog/live-off-the-land-2/

Left Coast Housing

Top 3 Coolest Things To Do In Toronto

Warm In Bed

December Stats State: We're Still On Track For One Of Best Years!

Housing Affordability Improves In The GTA (Source: MoneyVille)

November 2010 Toronto Real Estate Newsletter

Chinese stoke Toronto’s condo boom

Top 3 Downtown Streets

Dufferin Grove & Dovercourt Park Real Estate Sales For October 2010

CREA slashes home-sales forecast

OCTOBER 2010 Toronto Housing Sales and Stats

Free Pumpkins For Dufferin Grove Families

Very Cool Graffiti On Garage In Little Italy Toronto

House prices see return to normalcy

‘Cautious Optimism’ Rules 2011 Housing Outlook

Canada's economy appears to be on the mend

Latest Real Estate And Economy Details

September 2010 Toronto Real Estate Market Stats

The Republic Of Great Views - 70 Roehmapton Suite 1520 For Sale

August 2010 Dufferin Grove & Dovercourt Park Real Estate Stats

Button Up Or Button Down - One Of Best Listings Of The Year!

First Home Buyer Tax Credit Info

Canada's Energuide For House Retrofit Grant

Second Suites In Toronto (AKA Granny Flats)

August 2010 Toronto Real Estate Market Update

11 William Carson Crescent Suite 619 - SOLD

28 Olive Ph12 - SOLD

Train Wreck In The US Real Estate Market Still To Come?

10 Things You Should Know When Selling Your Home!

City Of Toronto Tennis Courts

Plans revealed for new $800M waterfront neighbourhood

Housing to drag on economy

Condo Status Certificate Story

There has to be a better way and I think I may have found it:

Mid August 2010 Market Update

July 2010's Market - Summer Stats

Front Pad Parking May Not Be Permitted

265 Bartlett Avenue Home For Sale $565,000

July 2010 Toronto Real Estate Market Charts

A Shame - Last Carnegie Hall Tenant Forced Out

155 Dalhousie Street - 1008 - Fully Furnished Loft For Lease

New Bosley Office - 1106 Queen Street West - Beaconsfield Neighbourhood

Important Factors When Buying A Home

Chinese Buyers See Great Value In Toronto & Vancouver

Canadians Bought 23% of US Homes Sold In 2010

Summer Is Here And So Is June's Real Estate Market News

May Sales - Toronto Real Estate

Eco Ad: Nissan Leaf With Lance Armstrong

Lance Armstrong - Gotta Love What This Guy Has Done With His Cycling Career And For Cancer!

Brief History Of The Tour De France

255 Richmond St East Unit 127 - Available For $345,000

Macintosh At The Cottage

2010 World Cup Of Soccer Schedule Courtesy Of Ryan Roberts

Dufferin Grove Alternate Parking Protest

Good Things Happening In Dufferin Grove!

May Sales Were Strong

Home Ownership Gets More Expensive

Contemporary Camden Loft Now Available - $389,000 - 29 Camden Unit 504

Cash Flow Is King

Mid-May Toronto Real Estate Market Figures

Dufferin Grove and Dovercourt Park Sales For May 2010

A Book I Liked: Liar's Poker

2011 To See A Drop In Values?

Green Commercial Real Estate Investments Look To Rise

More Records Set & We Expect Sustainable Growth In 2010

Sweet, Sweet Candy Factory - 993 Queen Street West, Unit 317 For Sale

Competition Bureau misguided about MLS

Wychwood/Hillcrest Neighbourhood - Client Testimonial

Welcome New Mortgage Rules, I Guess...

Great Reasons To Ride A Bike!

This is pretty cool...A little tough in a city environment however if you have 1.5-2 acres of land you can sustain yourself and your family...

http://1bog.org/blog/live-off-the-land-2/