Archive for the ‘Listings’ Category

Sick and tired of all BrokerBabble online and in the blogosphere?  Can’t justify paying $1,000,000 for that one bedroom bungalow? … you’re not alone!

Last week, @BigVeech suggested I check out FML Listings – an anonymous Tumblr blogger who shares their opinion on everything from the high prices of buying in the city to the broker exaggerated choice of words in the listing. The blog launched this month and already The Grid TO, Blog TO,  Torontoist, Move Smartly have picked up on their postings!

I reached out to FML Listings and asked a varitey of questions about their thoughts on the current state of the TO market.  Check out our chat below!

How long has the blog been up for?

The blog has only been up for about two weeks. There are about 2 or 3 pages of listings at this point, and I’m finding more and more each day, along with all the amazing submissions people have been sending in. I had no idea there’d be this much content, and it’s almost sad in a way that I have about 20 listings ready to go up as I type this.

What made you start FMLL in the first place? Was there one listing that pushed you over the breaking point lol?

Well, I’ve been looking for houses on and off for a couple years and lately every listing I see is just crazier than the last. Then a few weeks ago I saw one that just killed me—it was a really old run down (and tiny) semi-detached house near the Danforth (listed as “in the beaches”) being sold for almost a million dollars, and I just couldn’t keep that one to myself. I wanted everyone to see how insane that was. The feedback I got when I posted it was so overwhelming; it made me realize that a lot of people didn’t know what was going on with real estate in this city. So I just kept posting more listings, and unfortunately there are tonnes of them.

Is there a goal to the blog?

Mostly for personal sanity. Every time I go to an overpriced open house, I tell myself “no one’s going to buy this.” Then it actually sells for at least asking price. So, seeing all the feedback I’ve been getting agreeing that the market is completely out whack makes me feel just a *little* bit better about the situation, and a little less crazy. That’s always great.

But more so, now that it’s getting so much exposure, I just love that word is getting out on what’s going on. I feel like a lot of people don’t realize how insane the market has gotten, so my ultimate goal would just be to spread the word to as many people as possible, and start that conversation of “wait a minute, is that house really worth a million dollars?”

Realtors loooove to promote the level of sales they’ve achieved through titles with very little value to the public (like platinum broker, 100% club etc) Have you considered giving an award of your own for crappiest listing?

Haha, that’s a great idea!! I would love to do that, but I think about 70% of the listings would win that award. It’d be so hard to narrow it down. When I write each listing out it seems I always start with “and this one is my favourite of all time!!” Then, as a new candidate comes along, I have to take a step back and tell myself that they all can’t be my favourite.

Any examples of listings done well?

It’s hard to say, but I’ve seen a couple good listings here and there. Recently I saw one out in the west end that was overpriced because the owners had just renovated it, but it was beautiful and the realtor was honest and upfront about everything, which is a nice change. But more often than not, most listings I see are very poorly done and rarely represent the actual home and price the home *should* be.

What do you expect out of your realtor when listing your home?

Well, I’d first and foremost expect honesty. I think in this market, agents are just getting lazier and saying whatever they want to make the quick sale. I first used an agent over 5 years ago to buy a condo, and they did a lot of work for me. But now I feel like the market just sells itself, and some agents are taking all this commission and not doing much work for it. I mean right now, I’m about to put my house up for sale (it’s a semi-detached in Richmond Hill), but I’m finding it so hard to justify paying a Realtor $25,000 commission to put a typo-filled, incorrect information, skewed-imaged listing on MLS and just wait for the offers to come in.

What your biggest pet peeve with MLS listings?

Just the lack of honesty in the listings, or the abundance of errors. I mean, if you look at some listings, they’re mapped in the wrong area, have incorrect photos (or none at all), or completely incorrect information. I’ve had agents tell me that to carry a million dollar property I was in, it would be $1600 a month, which I know just isn’t true. Or other agents say in their listings that houses in Newmarket are only 10 minutes to downtown Toronto. Have they ever driven on the 404 during the morning rush hour?? They’re selling inexperienced people a lifetime of debt they can’t afford, and a lifestyle they’re not prepared for. There needs to be some accountability there.

Can others send crappy listings to you?

Yes. I added a submission page for people to email me listings. So far the response has been overwhelming; the content is just overflowing at this point. It’s great that I have blog content, but more so it really makes me upset that there even are this many unaffordable trash houses. And now I’m getting listings from people in Brampton, Mississauga, and other 905 areas. So now it seems like it’s much more than just a Toronto problem.

Have any Realtors contacted you about seeing their listing on the blog?

Not yet, thankfully. I’ve actually had a lot of Realtors contact me praising me for what I’m doing! It’s an amazing feeling, and so validating. I mean, the back-story is that we’ve been looking at houses for years and we just never understood what was going on. Surely agents must know that these properties are overvalued. So to see these realtors email me and praise the site, it’s a great feeling.

In an effort to sell off the remaining units at 3018 Yonge St, the developers are offering a purchasers the opportunity to buy with just 5% down!  Buyer’s only need to give $2000 at time of signing the offer with the remaining 5% due in 30 days. The remaining 15% isn’t due until occupancy!

Read the rest of this entry »

It’s not often that I promote leases on my blog, so when I do, you know it’s going to be a good one!

This spacious suite is located at 380 Macpherson and also goes by the name Madison Lofts. It’s 1 bedroom plus den loft that comes in at about 785 sq.ft. and features two separate marble bathrooms!  It feels much larger with it’s 12 foot ceiling heights and long layout.  From the walkout balcony you can take in the Cities beautiful sunsets as the views are clear to the west… and of course there’s the gorgeous views of Casa Loma from the couch! Not bad for a converted hydro building!

On the main level of the building there’s round the clock security at the front desk.  In the same area you’ll also find a well equipped gym and a party room.  Up-top  is the rooftop terrace that features sun bathing chairs and gas BBQ’s and in the basement there’s ample guest parking.  For the commuters, Dupont Station is literary at the end of the street!

I’m listing the unit for $1950 a month and we’re looking for a minimum of a 1 year lease.  If you or someone you know is looking, feel free to send them my way!

Ho Ho Ho! Santa Savel is here, spreading Christmas cheer to alllllllll my loyal readers… I have the perfect stocking stuffer for the pre construction investor in your life.  Everyone and anyone with even the slightest bit of interest in buying a brand new condo, absolutely needs to read Brain Persauds latest book: Investing in Condominiums – Strategies, Tips, and Expert Advice for the Canadian Real Estate Investor!

The book shows readers the ins and out of profitable condo investing by sticking to investing fundamentals, carrying out proper due diligence, and having an exit plan. Investing in Condominiums gives Canadian investors the nuts and bolts of undertaking such an investment based on real-life examples and expert knowledge.

I picked up my very own copy of the book last week, and am already half way through it!!! What I particularly like about it is that it draws on Canadian scenarios and even uses local, Toronto examples to explain it’s lessons.  Brian went in the trenches and interviewed the “who’s who” in Canadian real estate – from developers, lawyers, designers, financiers and even Realtors (myself included on pages 8, 79 and 87).

I’ve said it a million times over that the pre-construction game is soooo different than resale.  Prior to this book, there was no single place to reference when questions arose.  Brian, a preconstruction investor himself, shares his expertise in a way that’s very easy to understand no matter what your real estate experience is! Kudo’s to him and everyone involved in making this book a reality!

One lucky reader will get an autographed copy of the book during my Christmas Pre-Construction Contest!  The rules are simple: From Monday December 5th, 2011 to Friday December 23, 2011 I ask that anyone (living in Toronto or the surrounding GTA) leave a comment below with their FAVOURITE pre-constuciton condo in the City.  On the 23rd I will pick a winner at random and send them over their very own copy of Investing in Condominiums!

Happy Holidays and good luck!

So I’ve just listed a great new unit at the Vu Condos in downtown Toronto… What’s so “great about it” you ask?  Well for starters, is a located way up in the tower (23rd floor) and is a floorplan that doesn’t come available too often!  You get tons of natural light shining in from the floor to cieling windows, and a perfect view of the sun rising in the morning.  In the evening you can watch it set over the City to the north.  Depending on where you stand in the unit, you can actually see in three different directions: The lake to the south, the West Don Lands to the East and the cluster of buildings that make up our skyline to the North!

This particular unit come updated with an island in the kitchen and stainless steel appliances! The owners also elected to replace the standard bathtub with floor to ceiling glass show stall.  To maximize space in the bedroom, they closed off a door connecting the master to the bathroom.  In total, the unit is about 745 square feet…and for those looking for a bit more room the condo also comes with TWO parking spots and TWO lockers!  Check out a video below:

If you’d like a private tour of this unit, contact me for an appointment!  For more info on this unit, click here!

Here are a few photos from inside the unit:

You haven’t truly sold Real Estate until you’ve sold a co-op!

Co-op’s are a form of ownership wildly popular in New York yet not that common in Toronto. They’re typically cheaper to purchase when compared to a condo unit. The price of co-op units makes them ideal for a first time purchasers. The term “co-op” is commonly associated with government supported housing, yet many have no relation and are run entirely by the residents and property manager.

The unique location of my listing is on the border of two sought after communities. The building is located on 1648 Bathurst and has Forest Hill to the East and Cedarville to the West! The shops and restaurants of”Upper Village” are minutes away on Eglinton. Loblaw’s and the St. Clair subway station can be found to the South.

The building has a ton of character with a welcoming Tudor style exterior. Typical units in the area are reflective of its time and are rarely updated. I helped my client purchase in the co-op a while back and was amazed when I saw how she transformed the place! Here is what it looked like before the renovations:

From your first visit, you’ll notice that this isn’t you’re typical co-op! The owner has extensively updated the look and feel of her place while still respecting the character and charm originally built into the unit. The walls have been recently painted to give the area a warm feel. The kitchen went through a massive overhaul with the old finishes removed and a much more modern style applied.  The dull white cabinets, the laminate countertops and the basic appliances have been replaced with granite counterops, mahogany coloured cabinets, glass blacksplash and stainless steel appliances.  And now, the after photos:

The living area which was once painted in 2 clashing hues of yellow has been transformed with a floral wallpaper and warm coloured complimentary wall!  My client has preserved the character of the imitation fireplace by giving it a fresh coat of paint.  I particularly love the inlay around the base of the fireplace…that level of work is rarely seen these days.  Oh, and did I mention the hardwood???  Yes I said hardwood NOT laminate!  Try finding that in a newly built condo!

And check out the video!

Laundry is available in the lower level of the building and there is a parking space available for rent!  The unit is placed on the main level, at the rear of the building which allows for quite conversations without the noise of traffic.  The maintenance fees include property taxes, hydro, water and heat.

You can learn even more about the listing on my SavelSells website or feel free to contact me for a private showing!