Toronto Real Estate Blog Downtown Condos » re/max

Who Do I Read??

Mark Savel — Mon, 20 Jul 2009 06:09:20 +0000

It seems like just yesterday the blogging experience began for me!! As I near my 100th post, I wanted to share the links of some of the other Real Estate blogs that I often read. It also gives my readers a chance to get others perspective on the market and city.

In no particular order, my suggestions for T.O. Real Estate blogs are (insert drum roll):
The Realosophy Move Smartly Blog
Richard Silver’s Torontoism Blog
BuzzBuzzHome Blog
George O’Neill’s Real Estate Musings
Andrew la Fleur’s – True Condos
Tridac Mortgages Money Matters Toronto Blog
Heritage Toronto Blog

and if you’ve stumpled onto my blog looking for content outside of Toronto:
Andrew Perkins Halifax Real Estate Guy Blog
Dave Chomitz Cobourg Port Hope Northumerland Information Blog
The Collingwood – Blue Mountain Real Estate Blog
Ian Watts Video blog

There’s tons of others out there but I choose to list the ones above because (like I) they update frequently! Thanks to all of the loyal readers who’ve checked out the blog thus far and if you haven’t signed up for daily updates you can do so here. If you’re ready to take the next step in your real estate journey give me a call…i’d love to help!

p.s. in my previous entry I promised to post questions about 1Bloor…truth is i’m pretty 1Bloor’d out for the weekend. Besides, I’m sure the events of this week will give me tons of content to work with. Check back often as any new developments (pun intended) will be posted here!

Best June EVER for Toronto Real Estate

Mark Savel — Mon, 06 Jul 2009 21:34:36 +0000

Last month I did a Video Blog on how the first half of June 09 was preforming much better than June 08. Now that June numbers are in, there’s even more good Real Estate news to share! The Toronto Real Estate board is reporting record results with 10,955 sales occurring, up 27% from June 08. The average price was $403,972 – up by two per cent compared to the same month last year.

The C01, C08 districts of the city (where the bulk of condo sales occur) saw averages prices sitting at $340,895 and $345,465 respectively. Well priced units are selling in a matter of days and most for over asking! Sellers, with units selling in record time, now is the perfect opportunity to put yours on the market. Buyers, now more then ever it’s important to be pre qualified and prepared for when yourunit becomes available. With most selling for close to the asking price or above, work with a realtor who’ll actively search the MLS and keep you up to-date with new listings!

If you’d like a copy of this months market report, send me an email and i’ll get one out to you! Interested in getting involved in the market give me a call…i’d love to help!

Toronto Garbage Strike aka BigStink09

Mark Savel — Mon, 22 Jun 2009 05:39:50 +0000

It’s official: The Toronto Civic Employees’ Union Local 416 (CUPE) and the Canadian Union of Public Employees (CUPE) Local 79 have announced that they are on strike. The locals were in a legal strike position as of 12:01 a.m. on Monday, June 22, 2009. The media has been heavily covering the news in Toronto and focusing most of the attention on the garbage, but after a closer look, a lot more is at stake!

Many real estate related services are also on hold including: Building Permits, Toronto Archives and City Planning. Some condo’s garbage pickup will remain unchanged, see if yours is on the list for pickup. I’ve listed the specifics of each real estate related category below:

Toronto Archives – The City of Toronto Archives located at 255 Spadina Rd. will be closed.

City Planning – No planning applications, current applications for amendments to the Official Plan or zoning bylaws or Committee of Adjustment applications will be processed. All scheduled Committee of Adjustment meetings or hearings scheduled to take place during the disruption are cancelled and will be rescheduled. Pending Committee of Adjustment Notices of Decision required under the Planning Act will be sent out. Adjournments are being sought for Ontario Municipal Board hearings on planning-related matters.

Toronto Building -No building permit applications will be received, processed or issued. No preliminary project review applications will be received or processed. No compliance, zoning use or property information letters will be processed or issued. Only emergency building inspections will take place.

AND OF COURSE THE BIGGEST ISSUE…GARBAGE COLLECTION:
Residential curbside garbage, green bin and recycling collection is cancelled in all areas of the City except Etobicoke, where it will continue. All city-wide yard waste, white goods (e.g. fridges and stoves), household hazardous waste, ElectroVan and HazMobile collection is cancelled, including in Etobicoke.

In areas with no collection services:
Residents are encouraged to properly package and store their garbage for the first week of a strike. Continue to separate green bin materials and other garbage.
Do not place any items out at the curb.
Store recyclables (can, bottles, paper and newspapers) and yard waste at home until regular collection resumes. Once your blue bin is full, continue to store recyclables in clear, plastic bags.
If taking waste to a drop-off site, combine green bin materials and other garbage and place in a securely tied, double plastic bag.
To minimize the amount of waste, please:
Postpone garden trimming and pruning
Use a backyard composter for yard waste and organics (no meat or dairy products should be composted)
Residents are asked:
To help elderly and disabled people in their neighbourhood by offering to take their garbage to designated nearest drop-off locations
Not to throw garbage onto streets, into laneways or parks
Not to leave litter or waste at litter bins. These will not be emptied during the disruption
Deliveries of pre-ordered new and additional residential garbage and blue bins will continue.
Existing requests for repairs or exchanges of residential bins will be postponed until the labour disruption has ended.
Should the labour disruption continue, allowances will be made to permit residents to put out additional garbage for collection after resumption of normal services.

For a full list of cancelled or suspended services click here

The Wheel Chair Accessible Home

Mark Savel — Tue, 16 Jun 2009 04:35:56 +0000

What an amazing listing!!!

A sales representative in my office, Lori Bennett has just listed a very special home. What makes it so unique is that it caters to a way of life, that in my opinion, doesn’t get enough attention. The spacious renovated bungalow has been designed to give special needs families the comfort they need and the privacy they deserve.

The sellers have upgraded their home with lifts and built-in’s to accommodate wheel chair or elderly access. It also has 2 full kitchens on the main floor with one designed for complete cooking at wheelchair height. The bathroom was made specifically for wheelchair use and to give the user independence! 3 spacious bedrooms can be found on the main floor and include a 3 piece bathroom in each. Check out the pictures below:

If you’d like a private showing of the house or more info, give me a call…i’d love to help!

The King East – Units Still Available

Mark Savel — Fri, 12 Jun 2009 20:32:44 +0000

As anyone who watches HGTV knows, the #1 thing to consider before buying real estate is location, location, location and this particular project has all three. Located just pass the hustle and bustle of the busy strip known as King West, you’ll find a much more quite yet sophisticated King East. Venture past some of the best home decor stores and you’ll arrive at the future home of The King East (330 King St E).

This 15 story condo is currently in the pre construction stage and has been for about a year, but just this week I’ve recieved emails advertising tons of affordable units still available. Prices range from $420 per square foot and up. Unit sizes go from studios with 310 sqf (yes you read right) to 2 bedroom units with a more spacious 840 sqf layout.

Other notables of the area include: George Brown College a few blocks west (great for those considering the Condo as an investment with rental potential), The Distillery District a few blocks south (a hip place to meet up with friends) and a short commute to St. Lawrence Market (an amazing place to pick up fresh food!!)

Check out some of the show room photos below:

Think this could be the one? Would you like more info… give me a call…i’d love to help! Remeber to protect your interests and have me represent you before visiting the sales center. All prices, figures and materials are preliminary and are subject to change without notice.

Who’s Buying Cottages?

Mark Savel — Wed, 03 Jun 2009 06:24:26 +0000

Click here to view the embedded video.

Just the other day, a past client gave me a call and told me they were ready to take the plunge…LITERALLY! They love the home they’re in, but wanted a 2nd getaway by the lake. They’re timing couldn’t have been better! Canada, and in particular Ontario, has tons of exciting towns for us big city folk to relax in. With the recent global economic downturn, recreational properties have become more affordable than previous years. The search is now on for that perfect lake side retreat!

Also this week, Re/Max Canada released their Recreational Properties Report. What they’ve found is:

Generation X purchasers are poised to replace aging baby boomers as the major force in recreational property markets across the country, according to a report released today by RE/MAX.

The demographic shift was noted in the 2009 RE/MAX Recreational Property Report highlighting sales, pricing, trends and developments in 50 Canadian markets. The report found demand from Gen X (those born between 1965 and 1980) has nearly doubled over one year ago. Seventy-four per cent of markets surveyed this year reported a marked trend toward thirty-something buyers snapping up affordably-priced product, ranging from waterfront cottages to resort condominiums, compared to just 40 per cent in 2008.

“After being priced out of most markets for the better half of the last decade, Gen X purchasers now have the financial wherewithal to buy recreational product at virtually every price point,” says Michael Polzler, Executive Vice President, Regional Director, RE/MAX Ontario-Atlantic Canada. “Gen X is ideally positioned to pick up any slack in recreational property markets caused by softer demand from baby boomers and retirees. They represent the next wave of recreational property owners in Canada and they know it.”

The financial strength of the cohort dovetails well with current market realities. Sixty-six per cent of recreational property markets surveyed reported a decline in the number of recreational product sold in the first four months of 2009, while 22 per cent indicated sales were either up or on par compared to one year ago. While the combination of inclement weather and a global recession clearly hampered sales activity earlier in the year, many major centres are currently experiencing an upswing in activity as the traditional cottage season gets underway.

“Much of the activity in the marketplace today has to do with the mindset of this particular generation,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “More important than the investment aspect is the commitment to lifestyle. The purchase of a waterfront home or a condominium is more than a simple transaction to Gen X purchasers – owning a recreational property underscores their dedication to family and balance.”

The time to buy has never been better. With four exceptions, recreational property prices have softened in most major markets across the country. Only on the Newfoundland Coast and in Ontario, from Innisfil to Oro, Kingston, and Beaverton, have values increased this year compared to 2008. Starting prices remain similar to one year ago and in some cases are even higher.

“While buyer’s market conditions exist virtually across the board, sellers of recreational properties from coast-to-coast are clearly content to wait out the storm,” says Polzler. “They are in no hurry to unload their product. Many have held on to their properties for generations – they’re fully-owned yet underutilized, which has prompted some aging owners to list them for sale.”

The report also found that while lowball offers are on the rise, very few meet with success. Through tough negotiations with multiple sign backs, purchasers who are serious tend to find out the hard way that sellers are serious too. As a result, the sales-to-list ratio remains relatively high in most recreational property markets across the country.

“The prospect of greater stability down the road is creating cautious optimism in the marketplace,” says Ash. “Purchasers are seeking to buy quality product, whether it be situated on lakes, rivers, or ponds, before values start to once-again edge up.”

Highlights:
• Supply is adequate in most markets, but heated activity in the lower-end has resulted in tight inventory levels for entry-level product in 18 per cent of markets including: Bancroft, Combermere, Honey Harbour/Port Severn, West Kawarthas, Orillia, Flesherton, North Saskatchewan, and Salt Spring Island.
• Older cottage owners, many who own their properties outright, are selling to younger purchasers with families.
• Some American cottage owners in Canada are taking advantage of the stronger dollar to cash out of the market.
• American purchasers have largely fallen off the radar, with some exceptions: Lake Winnipeg, Shediac Bay, and Sault Ste. Marie.
• Pent-up demand is a factor in the marketplace, as those purchasers who had intended on buying recreational properties in the latter half of 2008 deferred their purchases to 2009.
• Older Canadians continue to seek secondary homes in warmer parts of the U.S such as Florida, Arizona, California, and Nevada.
• Generation X purchasers are prepared to spend their hard-earned dollars on recreational properties, but at the end of the day, they want to know that they’ve negotiated the best deal possible.
• The upper-end has somewhat softened in markets across the country.

The full in depth report can be downloaded here . I highly recommend giving it a read, as it covers cottage towns all over Canada. If you’d like the names of some great cottage property sales reps, send me an email, I’d love to help!

Deposits 101

Mark Savel — Tue, 02 Jun 2009 05:02:31 +0000

Click here to view the embedded video.

Here’s my real estate video blog #2 Leave a comment below or contact me directly if you’d like to discuss deposits further!