Use a Realtor. Power of Sales are usually listed on MLS with a Realtor. It is often a very lengthy process to work an offer of this kind of transaction. You might think you are getting a great deal, but the bank has had the home appraised and they usually try to stick close to that appraised amount when negotiating an offer. They will keep that price for a specific amount of time and then reduce it, only slightly, if it has not sold in that time frame.
Inspect ! Inspect! Inspect!. Often a Power of Sale is left in a very messy condition. The bank will not sign off on warrantying the appliances, electrical, foundation, structure, plumbing, etc. Your home inspection will be your only means of knowing if you are buying a money pit and how much you are willing to repair, if necessary. The inspection can not tell you anything about what is hiden beneath the wall.
Buying a Home Listed On MLS with the Home Owner. Home prices have been adjusted downward from 2008. These homes will be priced in the same area as Power of Sale. Banks are not willing to "give away" the home under Power of Sale. Banks have to try and recoup their losses. Sellers must answer any questions you have about anything structural, electrical, plumbing, appliances, etc., banks will not not off on anything reguarding the state of the home. You are buying "as is", Caveat Emptor-Buyer be Ware.
If you are buying, selling or relocating to Toronto and need help from a professional REALTOR®, who is WORKING FOR YOU give me a call (416) 488-7875 and ask for Diane Plant or visit my website. I know Toronto.
Tuesday, December 30, 2008
Sunday, December 21, 2008
Isn't this the craziest weather?
It started Friday with that awful snow storm. People were stranded all over the city-in bus terminals, airports, subways, malls and on the roads. Businesses and schools closed early.
Saturday was beautiful. The major roads were clear but the Holiday shopping made moving about Toronto hectic.
Sunday had its ups and downs with the snow. We woke up to snow covered roads and driveways again. It turned sunny in the early afternoon and then the sky darkened and the snow blew in furiuosly again. It's 4:00 p.m. and all is calm once again.
This year we decided to finally get a snowblower, after 10 years of trying to make that decision. Last year did us in. Shovelling out 6 times in one day-that was enough. Well we have 110 ft of driveway and it gets cleared out now in about 15 minutes with the heaviest snow. This was the best investment.
We are babysitting our pug-shitsu/beagle "grandchildren". They are having a blast in the snow. We put on their hoodies and off they go.
I must say cudos to the people who work for the city-they are clearing our roads in record time.
Saturday was beautiful. The major roads were clear but the Holiday shopping made moving about Toronto hectic.
Sunday had its ups and downs with the snow. We woke up to snow covered roads and driveways again. It turned sunny in the early afternoon and then the sky darkened and the snow blew in furiuosly again. It's 4:00 p.m. and all is calm once again.
This year we decided to finally get a snowblower, after 10 years of trying to make that decision. Last year did us in. Shovelling out 6 times in one day-that was enough. Well we have 110 ft of driveway and it gets cleared out now in about 15 minutes with the heaviest snow. This was the best investment.
We are babysitting our pug-shitsu/beagle "grandchildren". They are having a blast in the snow. We put on their hoodies and off they go.
I must say cudos to the people who work for the city-they are clearing our roads in record time.
Friday, December 12, 2008
It's a Buyers market! Now is the time to make your dreams come true.
The housing market is historically cyclical. Every phase of continued price increases has been followed by a period of declining values. The last up cycle was from 1983 to 1989. It’s therefore not surprising that after the boom of the last 11 years, we’re currently experiencing a housing market correction. In most parts of the country, the days of being able to profit from buying and selling a property quickly is over, at least for a while. Owning a home and building equity in real estate is likely to remain a sound long-term investment.
We are now experiencing a “buyer’s market.” What is a “buyer’s market”? Simply put- a market in which there is a greater supply of homes for sale than buyers who want to buy. For the first time since 1997 buyers do not have to rush into a buying frenzy and make irrational decisions in “bidding wars”. There are now more homes on the market in all neighbourhoods than there are buyers prepared to make offers. The number of days a home is on the market has been increasing causing declining sales figures over previous months. Qualified homebuyers are in an enviable position to negotiate.
Almost 85% of first-time buyers today start a home search online. However, many buyers are unaware that the data and websites they are viewing could be outdated. Now is the time to sign your self up with an experienced professional Realtor who has previously worked in this kind of market. Along with your Realtor, do your homework. Ask your agent to include your e-mail address on their database so you can receive daily MLS listings, both new and reduced prices, thereby gaining access to the same information agents receive though out the day. I offer this great service directly to my buyers that fit their personalized search criteria. This service truly saves the buyer from driving all over the place, wasting precious gas, and educates you about the current Toronto and Greater Toronto Area real estate market inventory.
If you are considering purchasing a home, this could be your golden opportunity! Here are some solid reasons why you have an advantage:
1) Pre-qualified buyers.
If you do not have a mortgage specialist-ask your realtor for a referral. When you start your home search you will know exactly what you are pre-qualified to spend and will only look at those properties that fall within that range and you don't waste your time being overwhelmed by the choices. You can offer on a home with confidence that the mortgage will be approved (if the house is appraised by the bank at or below what you offered).
2) Lower interest rates
Today’s long-term fixed mortgage rates are low. The Bank of Canada once again dropped it’s prime rate once again on December 10 to 3.5%. Todays historically low interest rates mean you’ll benefit from increased buying power. It is also a good time to take out a variable mortgage rate because interest is fluctuating and you benefit when it goes down.
3) First-time buyers who don't have a home to sell.
A back up of inventory is partially responsible for the big slow down. If you as a the first-time home buyer can get over your fear and confusion about what " the market" is doing, you not only will help yourself by purchasing a home, but you will be part of the overall solution to help correct this market.
4) This is a true buyers market
the best in 11 years! Decide on area, and must have amenities before looking at homes. This will save you from becoming exasperated by the experience. Now is the time you will be able to buy in areas that you thought you were never going to be able to afford in a “bidding war” market. It also means you can afford to be more discriminating and take the time to find a home with all of the features that you are looking for.
Sellers are often ready and willing to " make a deal" in many cases, regardless of the asking price. This translates to out of pocket money you might not save in a different market. You can ask sellers to take back a mortgage, and get creative in contract inclusions such as appliances and repairs required as outlined in the home inspection.
5) New Home Builders Sales incentives
Many builders are beginning to offer incentives to lure buyers. They do not want to be sitting on inventory. In some cases, they’re offering price discounts or complimentary extras such as granite kitchen countertops, custom cabinetry, upgraded carpeting, top of the line appliances and gourmet kitchens.
The fundamentals of the Canadian economy and today’s buyer’s market suggest that now is an excellent time for prospective buyers to explore opportunities to buy a new home.
The bottom line is that buyers have never had a wider selection than they do now, besides the ability to buy a home at prices that are considered by many to be quite affordable. It’s hard to say how much the housing prices will decline. Whether home prices continue to decline or go back up, this may be the best time for homebuyers.
Follow your Dreams, not the market! Will you regret not buying your first home in this down market? Will you be comfortable buying later in a potentially rising market? My professional advice is to seize the opportunity and do what is best for you and your family. Don't try to second-guess the market. Create your own economy by enjoying the incredible ongoing benefits, pride and enjoyment of home ownership. It is the Canadian dream. Make your dream a reality. It's truly your market! Confer with your agent, explore the market, then buy, buy, buy!
We are now experiencing a “buyer’s market.” What is a “buyer’s market”? Simply put- a market in which there is a greater supply of homes for sale than buyers who want to buy. For the first time since 1997 buyers do not have to rush into a buying frenzy and make irrational decisions in “bidding wars”. There are now more homes on the market in all neighbourhoods than there are buyers prepared to make offers. The number of days a home is on the market has been increasing causing declining sales figures over previous months. Qualified homebuyers are in an enviable position to negotiate.
Almost 85% of first-time buyers today start a home search online. However, many buyers are unaware that the data and websites they are viewing could be outdated. Now is the time to sign your self up with an experienced professional Realtor who has previously worked in this kind of market. Along with your Realtor, do your homework. Ask your agent to include your e-mail address on their database so you can receive daily MLS listings, both new and reduced prices, thereby gaining access to the same information agents receive though out the day. I offer this great service directly to my buyers that fit their personalized search criteria. This service truly saves the buyer from driving all over the place, wasting precious gas, and educates you about the current Toronto and Greater Toronto Area real estate market inventory.
If you are considering purchasing a home, this could be your golden opportunity! Here are some solid reasons why you have an advantage:
1) Pre-qualified buyers.
If you do not have a mortgage specialist-ask your realtor for a referral. When you start your home search you will know exactly what you are pre-qualified to spend and will only look at those properties that fall within that range and you don't waste your time being overwhelmed by the choices. You can offer on a home with confidence that the mortgage will be approved (if the house is appraised by the bank at or below what you offered).
2) Lower interest rates
Today’s long-term fixed mortgage rates are low. The Bank of Canada once again dropped it’s prime rate once again on December 10 to 3.5%. Todays historically low interest rates mean you’ll benefit from increased buying power. It is also a good time to take out a variable mortgage rate because interest is fluctuating and you benefit when it goes down.
3) First-time buyers who don't have a home to sell.
A back up of inventory is partially responsible for the big slow down. If you as a the first-time home buyer can get over your fear and confusion about what " the market" is doing, you not only will help yourself by purchasing a home, but you will be part of the overall solution to help correct this market.
4) This is a true buyers market
the best in 11 years! Decide on area, and must have amenities before looking at homes. This will save you from becoming exasperated by the experience. Now is the time you will be able to buy in areas that you thought you were never going to be able to afford in a “bidding war” market. It also means you can afford to be more discriminating and take the time to find a home with all of the features that you are looking for.
Sellers are often ready and willing to " make a deal" in many cases, regardless of the asking price. This translates to out of pocket money you might not save in a different market. You can ask sellers to take back a mortgage, and get creative in contract inclusions such as appliances and repairs required as outlined in the home inspection.
5) New Home Builders Sales incentives
Many builders are beginning to offer incentives to lure buyers. They do not want to be sitting on inventory. In some cases, they’re offering price discounts or complimentary extras such as granite kitchen countertops, custom cabinetry, upgraded carpeting, top of the line appliances and gourmet kitchens.
The fundamentals of the Canadian economy and today’s buyer’s market suggest that now is an excellent time for prospective buyers to explore opportunities to buy a new home.
The bottom line is that buyers have never had a wider selection than they do now, besides the ability to buy a home at prices that are considered by many to be quite affordable. It’s hard to say how much the housing prices will decline. Whether home prices continue to decline or go back up, this may be the best time for homebuyers.
Follow your Dreams, not the market! Will you regret not buying your first home in this down market? Will you be comfortable buying later in a potentially rising market? My professional advice is to seize the opportunity and do what is best for you and your family. Don't try to second-guess the market. Create your own economy by enjoying the incredible ongoing benefits, pride and enjoyment of home ownership. It is the Canadian dream. Make your dream a reality. It's truly your market! Confer with your agent, explore the market, then buy, buy, buy!
Wednesday, December 10, 2008
Toronto's new Land Transfer Tax has negative impact on City economy
On February 1, 2008, the City of Toronto imposed a Land Transfer Tax (LTT) on the sale of real estate within its municipal boundaries. This LTT requires that buyers pay a tax of about 1.1 percent on the purchase of a house in Toronto.
In the December 2008 report by C.D. Howe Institute their recent study says:
"We assess the effects of the LTT on the volume of sales and on prices using data on the sale of single-family homes in the Greater Toronto Area between January 2006 and August 2008. Our data show that the LTT caused a 16 percent decline in the number of single-family homes sold after January 2008 and a 1.5 percent reduction in house values. We calculate that in its first year, the LTT will cause a reduction in household mobility – at least 3,500 families in the municipality of Toronto will stay in houses from which they would have otherwise moved – and an average reduction in selling price of about $6,400 per house.
The reduction in household mobility means that families will be more likely to remain in houses that are too big or too small, or are too far from their workplace or school. The dollar value of this lost mobility is about $1 for every $13 of revenue that the LTT generates for Toronto’s coffers, or about $12 million per year. We also find that the LTT has led to significant new administrative expenses.". to read this report in full -visit http://www.cdhowe.org/pdf/commentary_277.pdf
Land Transfer Tax Has Impacted Economy as reported by the Toronto Real Estate Board
A separate study conducted for the Canadian Real Estate Association determined that every re-sale housing transaction pumps $33,425 of spin-off consumer spending into the economy on things like renovations, furniture, and appliances. This means that, by causing a loss of 5,000 sales, the Toronto Land Transfer Tax has cost the City’s economy about $170 million.
The analysis expects the Land Transfer Tax to continue having a negative impact on Toronto’s real estate markets, which is why it is important for everyone to fight this tax now and over the long-term. THE NEXT MUNICIPAL ELECTION WILL BE CRITICAL. TREB is getting ready and is coordinating REALTORS® that want to get involved. Let's all get invlolved.
Call or email your City of Toronto Councillor and Mayor David Miller E-mail: mayor_miller@toronto.ca and let them know how upset you are with the decision they made to increase the tax and let's get the decision reversed.
In the December 2008 report by C.D. Howe Institute their recent study says:
"We assess the effects of the LTT on the volume of sales and on prices using data on the sale of single-family homes in the Greater Toronto Area between January 2006 and August 2008. Our data show that the LTT caused a 16 percent decline in the number of single-family homes sold after January 2008 and a 1.5 percent reduction in house values. We calculate that in its first year, the LTT will cause a reduction in household mobility – at least 3,500 families in the municipality of Toronto will stay in houses from which they would have otherwise moved – and an average reduction in selling price of about $6,400 per house.
The reduction in household mobility means that families will be more likely to remain in houses that are too big or too small, or are too far from their workplace or school. The dollar value of this lost mobility is about $1 for every $13 of revenue that the LTT generates for Toronto’s coffers, or about $12 million per year. We also find that the LTT has led to significant new administrative expenses.". to read this report in full -visit http://www.cdhowe.org/pdf/commentary_277.pdf
Land Transfer Tax Has Impacted Economy as reported by the Toronto Real Estate Board
A separate study conducted for the Canadian Real Estate Association determined that every re-sale housing transaction pumps $33,425 of spin-off consumer spending into the economy on things like renovations, furniture, and appliances. This means that, by causing a loss of 5,000 sales, the Toronto Land Transfer Tax has cost the City’s economy about $170 million.
The analysis expects the Land Transfer Tax to continue having a negative impact on Toronto’s real estate markets, which is why it is important for everyone to fight this tax now and over the long-term. THE NEXT MUNICIPAL ELECTION WILL BE CRITICAL. TREB is getting ready and is coordinating REALTORS® that want to get involved. Let's all get invlolved.
Call or email your City of Toronto Councillor and Mayor David Miller E-mail: mayor_miller@toronto.ca and let them know how upset you are with the decision they made to increase the tax and let's get the decision reversed.
Monday, October 27, 2008
Your home is fabulous but it is not selling
Your home is fabulous, in a great location, up until now it's been sitting on the market for many weeks with little or no interest. You are getting very disheartened. What can you do?
Real estate is an inconsistent business with markets fluctuating according to the economy, interest rates and supply and demand. The general market aside, there could be other reasons why your terrific home has not sold.
The number one reason excellent homes do not sell is because they are overpriced. Setting a sale price for your home is a complex business. You want to get the maximum possible return on the sale without turning off potential buyers with an exaggerated price.
As this article is being written, home prices in Toronto are down approximately 20% year to date. Home sellers must price their home for today’s market if they are genuine about selling. An initial high price will drive away potential buyers put off by an over-valuation of your home. They will think your home is simply out of range, or that you are being greedy or unrealistic in your thinking.
It is important to price your house according to the market in which it is located. For example, a house located near hydro towers or backing onto a railway line may sell for less than and identical house situated in a nearby area without these adverse facilities.
Additionally, if there are a lot of homes for sale in your neighborhood, it becomes a buyers' market and you will not be able to obtain the price you think you should get if your neighbors are willing to go lower.
Finally, there are trade-offs when selling your house: a lower price usually means a larger group of potential buyers and a faster sale, while a higher price means a smaller market of potential buyers and a slower sale. The current market conditions, CMA) as presented to you by your realtor determine the price you should ask for your home. If you overprice it, you must be prepared to wait to get it or reduce it in time.
Another reason your house may not be selling is exposure. Are you trying to sell it yourself? If so, it may be difficult to arrange showings around your work and family schedule, you do not want to pay the cost of advertising, you are hoping someone will drive by and call, to name a few obstacles, therefore limiting the potential for a sale. Listing your home with a realtor will give you the exposure you need to sell your home and the professional feedback. Not only does a realtor have more flexibility in showing your home, he or she will also advertise the house, list it on the widely used MLS (Multiple Listing Service) website, their own website, and that of their company’s. A realtor will also do open house and is an objective party to hear what people are saying when they come through.
A realtor will attract buyers because of a photo on the MLS listing, the internet website, advertising, emails to other realtors, open houses, a professional sign on the front lawn or feature sheets.
Other matters to consider include:
· Does your home look neat and welcoming from the street? Enhancing your exterior appeal will increase your chance of a buyer being interested. It is in good repair? Just like with photographs, your home is judged on its appearance from the road.
· Is your house clean and neat? This is vital to making a strong impression on potential buyers. Clutter is not desirable, so take time to sift through your belongings and get rid of the stuff you don't need or want. Throw out the junk and donate the rest of your unwanted possessions to charity. Even after going through your things, you may have too much stuff in plain view.
Make your closets and cabinets look spacious, and if there is too much, buy some plastic containers and store the stuff you don't use very often in the tubs, which you can stack neatly in a corner in the basement. This will improve the look of your home and it will be packed already for your move.
· Update your interior decorating to enhance the attraction of your home. Replace old flooring, apply new paint, and add a slip cover to your or unstylish furniture. Changing the doorknobs in your kitchen and bathrooms is a great way to modernize its look without spending a lot of money. Remove stained or foul smelling carpet. Hardwood flooring found in good condition underneath the carpet is an added bonus.
· Odour management. Not everyone loves our pets as we do. Make sure the kitty litter box is fresh (and out of the way!), and that hair and musty pet blankets are out of sight. If your pet has soiled the carpet, it should be professionally cleaned or removed.
Toronto residential real estate has become a buyer’s market. It is still strong and it is still a great time to by with mortgages remaining low.
Real estate is an inconsistent business with markets fluctuating according to the economy, interest rates and supply and demand. The general market aside, there could be other reasons why your terrific home has not sold.
The number one reason excellent homes do not sell is because they are overpriced. Setting a sale price for your home is a complex business. You want to get the maximum possible return on the sale without turning off potential buyers with an exaggerated price.
As this article is being written, home prices in Toronto are down approximately 20% year to date. Home sellers must price their home for today’s market if they are genuine about selling. An initial high price will drive away potential buyers put off by an over-valuation of your home. They will think your home is simply out of range, or that you are being greedy or unrealistic in your thinking.
It is important to price your house according to the market in which it is located. For example, a house located near hydro towers or backing onto a railway line may sell for less than and identical house situated in a nearby area without these adverse facilities.
Additionally, if there are a lot of homes for sale in your neighborhood, it becomes a buyers' market and you will not be able to obtain the price you think you should get if your neighbors are willing to go lower.
Finally, there are trade-offs when selling your house: a lower price usually means a larger group of potential buyers and a faster sale, while a higher price means a smaller market of potential buyers and a slower sale. The current market conditions, CMA) as presented to you by your realtor determine the price you should ask for your home. If you overprice it, you must be prepared to wait to get it or reduce it in time.
Another reason your house may not be selling is exposure. Are you trying to sell it yourself? If so, it may be difficult to arrange showings around your work and family schedule, you do not want to pay the cost of advertising, you are hoping someone will drive by and call, to name a few obstacles, therefore limiting the potential for a sale. Listing your home with a realtor will give you the exposure you need to sell your home and the professional feedback. Not only does a realtor have more flexibility in showing your home, he or she will also advertise the house, list it on the widely used MLS (Multiple Listing Service) website, their own website, and that of their company’s. A realtor will also do open house and is an objective party to hear what people are saying when they come through.
A realtor will attract buyers because of a photo on the MLS listing, the internet website, advertising, emails to other realtors, open houses, a professional sign on the front lawn or feature sheets.
Other matters to consider include:
· Does your home look neat and welcoming from the street? Enhancing your exterior appeal will increase your chance of a buyer being interested. It is in good repair? Just like with photographs, your home is judged on its appearance from the road.
· Is your house clean and neat? This is vital to making a strong impression on potential buyers. Clutter is not desirable, so take time to sift through your belongings and get rid of the stuff you don't need or want. Throw out the junk and donate the rest of your unwanted possessions to charity. Even after going through your things, you may have too much stuff in plain view.
Make your closets and cabinets look spacious, and if there is too much, buy some plastic containers and store the stuff you don't use very often in the tubs, which you can stack neatly in a corner in the basement. This will improve the look of your home and it will be packed already for your move.
· Update your interior decorating to enhance the attraction of your home. Replace old flooring, apply new paint, and add a slip cover to your or unstylish furniture. Changing the doorknobs in your kitchen and bathrooms is a great way to modernize its look without spending a lot of money. Remove stained or foul smelling carpet. Hardwood flooring found in good condition underneath the carpet is an added bonus.
· Odour management. Not everyone loves our pets as we do. Make sure the kitty litter box is fresh (and out of the way!), and that hair and musty pet blankets are out of sight. If your pet has soiled the carpet, it should be professionally cleaned or removed.
Toronto residential real estate has become a buyer’s market. It is still strong and it is still a great time to by with mortgages remaining low.
Monday, October 6, 2008
Toronto from December 2008 to February 2009
Toronto from December 2008 to February 2009
Cavalcade of Lights
November 29 - December, 2008
Venue: Nathan Phillips Square
Website: www.toronto.ca/special_events
Toronto's festive season officially kicks off at the end of November each year with the brilliant illumination of Nathan Phillips Square with more than 100,000 lights, spectacular fireworks and a massive Christmas tree, heralding a month of merry-making and fun events in the city centre. Events include 'Designs in Ice' exhibition, outdoor concerts, street theatre and skating parties. For more information contact Toronto Special Events on (416) 395 0490 or email spevmktg@toronto.ca
Cavalcade of Lights Saturday Night Fireworks
December 6, 13 & 20, 2008
*************************************************************************
Celebrate the Holidays With Us at Casa Loma
The Toronto Star Presents
Sleeping Beauty’s
Enchanted Castle
Friday, November 28, 2008 to Sunday, January 4, 2009
Closed at 1:00 p.m. December 24th and all day December 25th
******************************************************************************
Black Creek Pioneer Village
December 6, 13 & 20th
6:00-9:30 p.m.
Delight in the glow of oil lamps, candle light and innovative gas lighting throughout the Village
Taste real sugar plums, chestnuts & other traditional holiday treats
Crowd around to hear the story telling
Warm yourself with hot apple cider
Try your hand at Victorian games
Sing along with carollers
Learn to make beautiful, old fashioned Christmas decorations
Enjoy unique, ‘save the tax’ shopping all evening in Black Creek’s Gift Shop & Laskay Emporium.
$32/person
$27/person for Black Creek Pioneer Village & Conservation Area Members (taxes included)
To purchase tickets click here.
Christmas By Lamplight Program with Dinner
Half Way House Restaurant, Black Creek Pioneer Village
$81/adult & $58/child (12 and under)
$76/adult & $53/ child for Black Creek Pioneer Village & Conservation Area Members (taxes included)
To purchase tickets and make reservations, please call 416-736-1733 ext.5331
*********************************************************************************
Christmas Treats Walk At the Toronto Zoo
During this annual event Siberian Tigers, Reindeer and other animals receive their seasonal goodies at the Toronto Zoo. Strolling carolers roam the grounds and there's free hot chocolate for everyone.
It's recommended that participants bring a non-perishable food item to help the food bank. Half-price admission to the Zoo is all day. Admission proceeds on this day go to support the Endangered Species Fund.
Please note this in an outdoor event.
Price: General Admission (13-64): $20, Senior (65+): $14, Child (4-12): $12, Child (3 and under): free
*******************************************************************************
Whatever the holiday, the city will generaly have something going on at Nathan Phillips Square. Great ice rink throughout the winter
*********************************************************************************
*********************************************************************************
WinterCity - a 14-day celebration of culture, creativity and cuisine.
January 30 to February 12, 2009
Winterlicious - the ever popular Prix-Fixe promotion, mouth-watering Culinary Events & the new Chef Series.
January 30 - February 12, 2009
In 2009, the WinterCity festival will run from Jan 30 to Feb 12, 2009 with spectacular shows, concerts and surprises for all ages.
*************************************************************************
Cavalcade of Lights
November 29 - December, 2008
Venue: Nathan Phillips Square
Website: www.toronto.ca/special_events
Toronto's festive season officially kicks off at the end of November each year with the brilliant illumination of Nathan Phillips Square with more than 100,000 lights, spectacular fireworks and a massive Christmas tree, heralding a month of merry-making and fun events in the city centre. Events include 'Designs in Ice' exhibition, outdoor concerts, street theatre and skating parties. For more information contact Toronto Special Events on (416) 395 0490 or email spevmktg@toronto.ca
Cavalcade of Lights Saturday Night Fireworks
December 6, 13 & 20, 2008
*************************************************************************
Celebrate the Holidays With Us at Casa Loma
The Toronto Star Presents
Sleeping Beauty’s
Enchanted Castle
Friday, November 28, 2008 to Sunday, January 4, 2009
Closed at 1:00 p.m. December 24th and all day December 25th
******************************************************************************
Black Creek Pioneer Village
December 6, 13 & 20th
6:00-9:30 p.m.
Delight in the glow of oil lamps, candle light and innovative gas lighting throughout the Village
Taste real sugar plums, chestnuts & other traditional holiday treats
Crowd around to hear the story telling
Warm yourself with hot apple cider
Try your hand at Victorian games
Sing along with carollers
Learn to make beautiful, old fashioned Christmas decorations
Enjoy unique, ‘save the tax’ shopping all evening in Black Creek’s Gift Shop & Laskay Emporium.
$32/person
$27/person for Black Creek Pioneer Village & Conservation Area Members (taxes included)
To purchase tickets click here.
Christmas By Lamplight Program with Dinner
Half Way House Restaurant, Black Creek Pioneer Village
$81/adult & $58/child (12 and under)
$76/adult & $53/ child for Black Creek Pioneer Village & Conservation Area Members (taxes included)
To purchase tickets and make reservations, please call 416-736-1733 ext.5331
*********************************************************************************
Christmas Treats Walk At the Toronto Zoo
During this annual event Siberian Tigers, Reindeer and other animals receive their seasonal goodies at the Toronto Zoo. Strolling carolers roam the grounds and there's free hot chocolate for everyone.
It's recommended that participants bring a non-perishable food item to help the food bank. Half-price admission to the Zoo is all day. Admission proceeds on this day go to support the Endangered Species Fund.
Please note this in an outdoor event.
Price: General Admission (13-64): $20, Senior (65+): $14, Child (4-12): $12, Child (3 and under): free
*******************************************************************************
Whatever the holiday, the city will generaly have something going on at Nathan Phillips Square. Great ice rink throughout the winter
*********************************************************************************
*********************************************************************************
WinterCity - a 14-day celebration of culture, creativity and cuisine.
January 30 to February 12, 2009
Winterlicious - the ever popular Prix-Fixe promotion, mouth-watering Culinary Events & the new Chef Series.
January 30 - February 12, 2009
In 2009, the WinterCity festival will run from Jan 30 to Feb 12, 2009 with spectacular shows, concerts and surprises for all ages.
*************************************************************************
Homes Sales September 2008 from The Toronto Real Esate Board
GTA Resale Housing Market Measured in September
October 3, 2008 -- The Greater Toronto Area resale housing market continued at a measured pace through September, Toronto Real Estate Board President Maureen O’Neill announced today.
With 6,424 homes changing hands last month, activity in the GTA declined six per cent compared to the 6,866 sales that took place in September 2007 and declined three per cent compared to the 6,622 transactions that were recorded two years ago.
In the City of Toronto sales were less robust. The 2,546 transactions recorded last month declined 11 per cent from the 2,854 sales in September 2007 and declined five per cent from the 2,680 sales recorded in September 2006. Sales increased six per cent between September 2006 and September 2007.
“We remain concerned about the Land Transfer Tax in the City of Toronto,” said Ms. O’Neill.
In the 905 Region, the 3,878 sales recorded last month were within three per cent of September 2007’s 4,012 transactions, and within two per cent of September 2006’s 3,942 sales. Sales in this region increased two per cent between September 2006 and September 2007.
From a year-to-date perspective, the GTA resale housing market has declined 14 per cent from the 73,827 transactions recorded a year ago. To date, there have been 63,595 sales through the TorontoMLS system this year. In the City of Toronto year-to-date sales have declined 16 per cent from last year’s figure of 30,059 to 25,257 transactions this year. In the 905 Region year-todate sales have declined 12 per cent. So far this year there have been 38,338 sales in the 905
Region compared to 43,768 last year. Prices throughout the GTA however, have remained fairly stable. At $368,549, the average price of a GTA home in September has declined three per cent from $380,132 recorded a year ago.
In the City of Toronto, the current average price of $393,647 declined six per cent from the September 2007 average of $420,182. Compared to the September 2006 average of $371,682 though, prices in Toronto for September 2008 have increased six per cent.
In the 905 Region, the average price of $352,071, increased marginally from the $351,641 recorded in September 2007, and was up five per cent from 2006 September average of $333,818.
“Although the market is not as robust as it was a year ago, homeowners are continuing to see strong returns on their investment,” said Ms. O’Neill. “On average, Sellers are achieving 97 per cent of their asking price.
With the average number of days on market increasing to 36 days from to 31 days a year ago, it is taking slightly longer for homeowners to achieve a sale.
“Even with respect to sales activity, each month we continue to see a handful of neighbourhoods reporting increases compared to a year ago.”
In Scarborough East (E08) transactions increased 22 per cent compared to September 2007 based on strong sales of all housing types.
"Given that these are trying times for the world economy, in context, the Greater Toronto Area resale housing market continues to fare quite well,” said Ms. O’Neill. “From a long-term perspective, buying a home remains a sound financial decision.”
October 3, 2008 -- The Greater Toronto Area resale housing market continued at a measured pace through September, Toronto Real Estate Board President Maureen O’Neill announced today.
With 6,424 homes changing hands last month, activity in the GTA declined six per cent compared to the 6,866 sales that took place in September 2007 and declined three per cent compared to the 6,622 transactions that were recorded two years ago.
In the City of Toronto sales were less robust. The 2,546 transactions recorded last month declined 11 per cent from the 2,854 sales in September 2007 and declined five per cent from the 2,680 sales recorded in September 2006. Sales increased six per cent between September 2006 and September 2007.
“We remain concerned about the Land Transfer Tax in the City of Toronto,” said Ms. O’Neill.
In the 905 Region, the 3,878 sales recorded last month were within three per cent of September 2007’s 4,012 transactions, and within two per cent of September 2006’s 3,942 sales. Sales in this region increased two per cent between September 2006 and September 2007.
From a year-to-date perspective, the GTA resale housing market has declined 14 per cent from the 73,827 transactions recorded a year ago. To date, there have been 63,595 sales through the TorontoMLS system this year. In the City of Toronto year-to-date sales have declined 16 per cent from last year’s figure of 30,059 to 25,257 transactions this year. In the 905 Region year-todate sales have declined 12 per cent. So far this year there have been 38,338 sales in the 905
Region compared to 43,768 last year. Prices throughout the GTA however, have remained fairly stable. At $368,549, the average price of a GTA home in September has declined three per cent from $380,132 recorded a year ago.
In the City of Toronto, the current average price of $393,647 declined six per cent from the September 2007 average of $420,182. Compared to the September 2006 average of $371,682 though, prices in Toronto for September 2008 have increased six per cent.
In the 905 Region, the average price of $352,071, increased marginally from the $351,641 recorded in September 2007, and was up five per cent from 2006 September average of $333,818.
“Although the market is not as robust as it was a year ago, homeowners are continuing to see strong returns on their investment,” said Ms. O’Neill. “On average, Sellers are achieving 97 per cent of their asking price.
With the average number of days on market increasing to 36 days from to 31 days a year ago, it is taking slightly longer for homeowners to achieve a sale.
“Even with respect to sales activity, each month we continue to see a handful of neighbourhoods reporting increases compared to a year ago.”
In Scarborough East (E08) transactions increased 22 per cent compared to September 2007 based on strong sales of all housing types.
"Given that these are trying times for the world economy, in context, the Greater Toronto Area resale housing market continues to fare quite well,” said Ms. O’Neill. “From a long-term perspective, buying a home remains a sound financial decision.”
Sunday, September 14, 2008
The Top Five Reasons Your House Has Not Sold
The Top Five Reasons Your House Has Not Sold
Why won’t your house sell?
One day a woman named Mary called to ask for real estate advice. She started by saying that her house had been listed for four months with another agent. Activity was slow and she had no offers. When she questioned her agent, she was simply told, "Well, selling a house takes time."
Quite rightly, that answer didn’t satisfy Mary.
Nationwide research shows that there are five main reasons real estate doesn't sell in a timely fashion. Scroll down to explore why:
The Initial Interviews
Before listing her house, Mary had wisely interviewed three agents. This is a smart move, even if the first or second agent makes you feel comfortable enough to list your house immediately. Without multiple interviews, you have no way to compare each agent’s marketing plans, including their price recommendations.
Each agent had provided Mary with a written price opinion, which is called a comparable market analysis (CMA). Two agents had recommended a similar price, and the other had suggested a price that was a bit higher.
Mary said one of the agents told her she could get $20,000 more than the other two agents had quoted. The agent was so enthusiastic, believable and convincing that Mary really believed this agent. After all what did Mary know about market values? This agent was an expert.
1)"Buying" a Listing
What probably happened is the agent "bought" the listing by quoting Mary a higher price during her presentation, knowing that Mary’s house would never really sell at that price. The agent intended to wait a few weeks before convincing Mary to lower the price in order to get the listing. This is commonly called "buying a listing."
Mary’s situation demonstrates a valuable lesson for sellers: if one agent quotes you a significantly higher price than the others, that agent is probably not the right one for you. The market doesn’t lie, so each agent you deal with should arrive at a very close figure. If you list your house higher than market value then drop your price later, your house will be "market worn." Your final selling price will probably be lower than if you had listed it correctly in the beginning.
Let’s say you list your house for $150,000 but it’s really worth $140,000. Buyers in the $140,000 range will never see your house because they’re not looking at $150,000 houses. They can’t afford them. And $150,000 buyers will be comparing your house to others that are truly worth that price, meaning those houses will sell while yours just sits there. In fact, many agents will show an overpriced house for comparison when they’re trying to sell listings that are more realistically priced.
Why do Some Owners Overprice?
Often it’s on their agent’s advice, which we just discussed. Another reason they’ll overprice is based on past value. Assuming a house appraised for $140,000 three years ago, they’ll add an annual appreciation rate of three, four or five percent to come up with $150,000 or more. Doesn't this make sense? But that’s not valid reasoning. I’ve never found any research to indicate that a home is guaranteed to appreciate.
Your house is worth what today’s market says it’s worth, regardless of what the house was worth one, two, five or ten years ago.
Comparing Home Prices to Stocks
Houses are just like stock. Hopefully they go up in value. Sometimes they come down. If you paid fifty dollars for one share of IBM stock two years ago and it’s valued at $30 per share now, would you expect to sell your stock at what you paid ($50) plus a profit? Of course not. Well your house is the same. A property’s value is determined by today’s market, not by yesterday’s value plus appreciation.
Mary’s price was too high. That’s the number one reason it hadn’t sold after four months.
2) Condition
After concluding that Mary had her house listed too high, the next step was to ask about the condition of the home. She said it was in pretty good shape, but that it was hard to keep it clean with a family and that it needed painting. She thought she could avoid that expense in such a good market. Mary couldn’t have been more wrong.
Buyers are looking for model-home conditions. The paint inside and out should be near perfect. Everything should be kept perfectly straight and orderly. In fact, a buyer should be able to move into her house without doing anything, including cleaning the carpet.
Even if Mary received an offer, the condition of the house would cause the buyer to offer less than market value. Mary needs to take the house off the market and paint it inside and out, cleaning everything, including the carpets, windows and light fixtures.
Although it may be difficult, a seller really has to walk through the house as if they are a potential buyer, being very critical and asking whether they would purchase a home in this condition. If you don’t feel you can do that, hire an interior designer to do it for you and to suggest what needs to be done to prepare your house for the most important show time you’ll ever have.
Once Mary had completed the recommendations above, the next step would be to invite all three agents back to visit and do another market analysis. She might even invite another agent that had impressed her during the previous listing period.
Another common question that many sellers ask, “ what do I do about pets, especially my dog”? The results of a recent survey stated that 60 percent of all people are extremely scared or highly allergic to animals. What does this mean to a seller? Sometimes you need to make other arrangements for your family’s pets. Of course, these pets are family members and you probably don’t want to board your pet. That’s okay, a simple solution where dogs are concerned is to take them for a walk or put them in the backyard (if you have one) during the showing.
With dogs, just the liability factor is huge. Your pet is the friendliest around but some child may come in pull your dog’s tail, causing your pet to react by biting this child. Then you have problems. Therefore, its best let a friend keep him, or have some relatives take care or take him outside or to board your pet, during this important stage of selling your home.
The things that make your house stand out the most is price and condition.
3) Location
The third reason a house won’t sell in a good market is location. Such things as undesirable schools, a higher crime rate, filthy/messy neighbors, a busy road, or noise pollution (i.e. beside a busy railroad track or under a flight pattern) can mark a bad location.
Mary’s location was good. There were no real negatives to affect her sale.
However, if your house is located poorly, the only thing that can compensate is a lower listing price. In order to sell a house in a bad location, the owner would have to ask for less than what similar homes in more desirable areas have sold for.
A good REALTOR will be savvy enough to recommend a good strategy and overcome a bad location.
4) The Listing Agent’s Reputation
The fourth reason a house won’t sell in a great market like we’re currently experiencing is the listing agent.
Your listing agent could cause huge problems if he or she is hard to get along with or difficult to work with. That’s something you can’t really anticipate, but that kind of attitude in an agent can make other REALTORS not want to show his or her listings unless they simply can’t find anything else to show potential buyers -- even though such behavior goes against the REALTOR’s code of ethics. It’s only natural not to want to work with someone who has a bad attitude or a condescending nature.
Agents who are rude, arrogant, and difficult to work with will not have as many showings as an agent who is cooperative and enthusiastic.
Many times an buyer’s agent will see a certain listing agent’s name on the multiple listing sheet and immediately take that house out of their showing schedule. Just because an agent is a top producer in your area does not guarantee that he/she has the respect of other agents in town. The only way to guard yourself against this type of discrimination is to check out the reputation of the agent you are thinking about hiring or get personal referrals.
5)Marketing Plan
Aggressive Marketing Plan
If your house won’t sell but you feel the house is priced right, in good condition, in a good location, and your agent is easy to work with, the marketing plan is probably the problem. Gone are the days when all the agent had to do was put a sign on your yard, place your house on the multiple listing service, run an ad, and wait for the offers to come in.
6) Lock-Box & Ease of Showing
That brings us to ease of showing. If you don’t allow your agent to put a lock box on your door you will miss out on a huge part of the showing market. Let me explain why and a step-by-step process of a typical showing agent.
Here’s how that agents works: when an agent has a couple coming in from out of town to buy a house, the agent will prepare a list of possible properties to show the couple. The properties are based on a previous in-depth interview to determine the couple’s needs. After searching the MLS computer, the agent will print a list of possible properties. Your House May Be on the "B" List
If the agent can’t make an appointment to show your house because you are not home, you’re going to miss the first few rounds of showings because your house is going to be placed on the "B" pile. If the buyers don’t find a house that meets their needs in the first few days, the agent goes back to the second pile of properties and starts showing the ones without lock boxes or houses whose instructions demand the homeowner be present at all times.
Suppose this couple falls in love with a house on the first few rounds of showings. Even if you have the best house in the city in the best condition -- you’ve lost that sale. So for every showing you do get, just think of how many you’ve missed. Allow your agent to put a lock box on your house and agents will be able to show your home when their client is available, even if you are not home. You’ll get much better traffic and a quicker sale that way.
Conclusion
As this article is being written, Mary is painting her house, cleaning, removing extra clothes from the closet, taking out bulky furniture and following a rigid checklist to de-personalize her house. The next step is to have her agent come back out and re-evaluate the listing price. Plus, she could call back the original agents she passed on. After all, they may have provided good guidance to begin with.
To recap, the top six reasons a house won’t sell today are: Pricing;Condition; Location; Listing Agent’s Reputation & Marketing Plan.
Why won’t your house sell?
One day a woman named Mary called to ask for real estate advice. She started by saying that her house had been listed for four months with another agent. Activity was slow and she had no offers. When she questioned her agent, she was simply told, "Well, selling a house takes time."
Quite rightly, that answer didn’t satisfy Mary.
Nationwide research shows that there are five main reasons real estate doesn't sell in a timely fashion. Scroll down to explore why:
The Initial Interviews
Before listing her house, Mary had wisely interviewed three agents. This is a smart move, even if the first or second agent makes you feel comfortable enough to list your house immediately. Without multiple interviews, you have no way to compare each agent’s marketing plans, including their price recommendations.
Each agent had provided Mary with a written price opinion, which is called a comparable market analysis (CMA). Two agents had recommended a similar price, and the other had suggested a price that was a bit higher.
Mary said one of the agents told her she could get $20,000 more than the other two agents had quoted. The agent was so enthusiastic, believable and convincing that Mary really believed this agent. After all what did Mary know about market values? This agent was an expert.
1)"Buying" a Listing
What probably happened is the agent "bought" the listing by quoting Mary a higher price during her presentation, knowing that Mary’s house would never really sell at that price. The agent intended to wait a few weeks before convincing Mary to lower the price in order to get the listing. This is commonly called "buying a listing."
Mary’s situation demonstrates a valuable lesson for sellers: if one agent quotes you a significantly higher price than the others, that agent is probably not the right one for you. The market doesn’t lie, so each agent you deal with should arrive at a very close figure. If you list your house higher than market value then drop your price later, your house will be "market worn." Your final selling price will probably be lower than if you had listed it correctly in the beginning.
Let’s say you list your house for $150,000 but it’s really worth $140,000. Buyers in the $140,000 range will never see your house because they’re not looking at $150,000 houses. They can’t afford them. And $150,000 buyers will be comparing your house to others that are truly worth that price, meaning those houses will sell while yours just sits there. In fact, many agents will show an overpriced house for comparison when they’re trying to sell listings that are more realistically priced.
Why do Some Owners Overprice?
Often it’s on their agent’s advice, which we just discussed. Another reason they’ll overprice is based on past value. Assuming a house appraised for $140,000 three years ago, they’ll add an annual appreciation rate of three, four or five percent to come up with $150,000 or more. Doesn't this make sense? But that’s not valid reasoning. I’ve never found any research to indicate that a home is guaranteed to appreciate.
Your house is worth what today’s market says it’s worth, regardless of what the house was worth one, two, five or ten years ago.
Comparing Home Prices to Stocks
Houses are just like stock. Hopefully they go up in value. Sometimes they come down. If you paid fifty dollars for one share of IBM stock two years ago and it’s valued at $30 per share now, would you expect to sell your stock at what you paid ($50) plus a profit? Of course not. Well your house is the same. A property’s value is determined by today’s market, not by yesterday’s value plus appreciation.
Mary’s price was too high. That’s the number one reason it hadn’t sold after four months.
2) Condition
After concluding that Mary had her house listed too high, the next step was to ask about the condition of the home. She said it was in pretty good shape, but that it was hard to keep it clean with a family and that it needed painting. She thought she could avoid that expense in such a good market. Mary couldn’t have been more wrong.
Buyers are looking for model-home conditions. The paint inside and out should be near perfect. Everything should be kept perfectly straight and orderly. In fact, a buyer should be able to move into her house without doing anything, including cleaning the carpet.
Even if Mary received an offer, the condition of the house would cause the buyer to offer less than market value. Mary needs to take the house off the market and paint it inside and out, cleaning everything, including the carpets, windows and light fixtures.
Although it may be difficult, a seller really has to walk through the house as if they are a potential buyer, being very critical and asking whether they would purchase a home in this condition. If you don’t feel you can do that, hire an interior designer to do it for you and to suggest what needs to be done to prepare your house for the most important show time you’ll ever have.
Once Mary had completed the recommendations above, the next step would be to invite all three agents back to visit and do another market analysis. She might even invite another agent that had impressed her during the previous listing period.
Another common question that many sellers ask, “ what do I do about pets, especially my dog”? The results of a recent survey stated that 60 percent of all people are extremely scared or highly allergic to animals. What does this mean to a seller? Sometimes you need to make other arrangements for your family’s pets. Of course, these pets are family members and you probably don’t want to board your pet. That’s okay, a simple solution where dogs are concerned is to take them for a walk or put them in the backyard (if you have one) during the showing.
With dogs, just the liability factor is huge. Your pet is the friendliest around but some child may come in pull your dog’s tail, causing your pet to react by biting this child. Then you have problems. Therefore, its best let a friend keep him, or have some relatives take care or take him outside or to board your pet, during this important stage of selling your home.
The things that make your house stand out the most is price and condition.
3) Location
The third reason a house won’t sell in a good market is location. Such things as undesirable schools, a higher crime rate, filthy/messy neighbors, a busy road, or noise pollution (i.e. beside a busy railroad track or under a flight pattern) can mark a bad location.
Mary’s location was good. There were no real negatives to affect her sale.
However, if your house is located poorly, the only thing that can compensate is a lower listing price. In order to sell a house in a bad location, the owner would have to ask for less than what similar homes in more desirable areas have sold for.
A good REALTOR will be savvy enough to recommend a good strategy and overcome a bad location.
4) The Listing Agent’s Reputation
The fourth reason a house won’t sell in a great market like we’re currently experiencing is the listing agent.
Your listing agent could cause huge problems if he or she is hard to get along with or difficult to work with. That’s something you can’t really anticipate, but that kind of attitude in an agent can make other REALTORS not want to show his or her listings unless they simply can’t find anything else to show potential buyers -- even though such behavior goes against the REALTOR’s code of ethics. It’s only natural not to want to work with someone who has a bad attitude or a condescending nature.
Agents who are rude, arrogant, and difficult to work with will not have as many showings as an agent who is cooperative and enthusiastic.
Many times an buyer’s agent will see a certain listing agent’s name on the multiple listing sheet and immediately take that house out of their showing schedule. Just because an agent is a top producer in your area does not guarantee that he/she has the respect of other agents in town. The only way to guard yourself against this type of discrimination is to check out the reputation of the agent you are thinking about hiring or get personal referrals.
5)Marketing Plan
Aggressive Marketing Plan
If your house won’t sell but you feel the house is priced right, in good condition, in a good location, and your agent is easy to work with, the marketing plan is probably the problem. Gone are the days when all the agent had to do was put a sign on your yard, place your house on the multiple listing service, run an ad, and wait for the offers to come in.
6) Lock-Box & Ease of Showing
That brings us to ease of showing. If you don’t allow your agent to put a lock box on your door you will miss out on a huge part of the showing market. Let me explain why and a step-by-step process of a typical showing agent.
Here’s how that agents works: when an agent has a couple coming in from out of town to buy a house, the agent will prepare a list of possible properties to show the couple. The properties are based on a previous in-depth interview to determine the couple’s needs. After searching the MLS computer, the agent will print a list of possible properties. Your House May Be on the "B" List
If the agent can’t make an appointment to show your house because you are not home, you’re going to miss the first few rounds of showings because your house is going to be placed on the "B" pile. If the buyers don’t find a house that meets their needs in the first few days, the agent goes back to the second pile of properties and starts showing the ones without lock boxes or houses whose instructions demand the homeowner be present at all times.
Suppose this couple falls in love with a house on the first few rounds of showings. Even if you have the best house in the city in the best condition -- you’ve lost that sale. So for every showing you do get, just think of how many you’ve missed. Allow your agent to put a lock box on your house and agents will be able to show your home when their client is available, even if you are not home. You’ll get much better traffic and a quicker sale that way.
Conclusion
As this article is being written, Mary is painting her house, cleaning, removing extra clothes from the closet, taking out bulky furniture and following a rigid checklist to de-personalize her house. The next step is to have her agent come back out and re-evaluate the listing price. Plus, she could call back the original agents she passed on. After all, they may have provided good guidance to begin with.
To recap, the top six reasons a house won’t sell today are: Pricing;Condition; Location; Listing Agent’s Reputation & Marketing Plan.
St Clair Artwalk and Studio Tours Sept 27 and 28th
St Clair Artwalk and Studio Tour takes place all around the St Clair Ave W area. This is year 5. Artwalk features local area residents showcasing their art, music and literary talents. Visit www.stclair-artwalk.org
Be sure to take in the Jazz concert on September 25th at St. Mathews Church, 611 St Clair Ave W. starting at 7:00 pm. You can get tickets at ticketweb.ca or at Ellington's cafe.
Artists will open their studios from 11 am to 4 pm on Saturday and Sunday.
There is an out door art market at the corner of Wychwood Ave and St Clair W. with 25+ artisits are displaying.
St Matthews United Church (on the south side) at 729 St Clair W will host the emerging artists.
St Michaels & All Angels Church (on the south side at Wychwood) at 611 St Clair Ave W. will be home to the outdoor main stage with great sounds of entertainment.
Business along St Clair West will become art galleries showcasing many community artisits.
Please visit Diane Plant's exhibit at 635 St Clair Ave W in the Maple Paints Store. I will be featuring my art "Mini Chairs on Canvas." This is a collection of whimsical, brightly painted mini chairs on canvas arranged in contemporary abstract designs.
Be sure to take in the Jazz concert on September 25th at St. Mathews Church, 611 St Clair Ave W. starting at 7:00 pm. You can get tickets at ticketweb.ca or at Ellington's cafe.
Artists will open their studios from 11 am to 4 pm on Saturday and Sunday.
There is an out door art market at the corner of Wychwood Ave and St Clair W. with 25+ artisits are displaying.
St Matthews United Church (on the south side) at 729 St Clair W will host the emerging artists.
St Michaels & All Angels Church (on the south side at Wychwood) at 611 St Clair Ave W. will be home to the outdoor main stage with great sounds of entertainment.
Business along St Clair West will become art galleries showcasing many community artisits.
Please visit Diane Plant's exhibit at 635 St Clair Ave W in the Maple Paints Store. I will be featuring my art "Mini Chairs on Canvas." This is a collection of whimsical, brightly painted mini chairs on canvas arranged in contemporary abstract designs.
Saturday, September 13, 2008
Toronto Residential Real Estate - Do We Always Expect Multiple Offers?
Do homebuyers and sellers in the Toronto real estate market believe that real estate negotiations are all about multiple offers? It appears that way when I talk to clients. This, however, is not the real world of real estate negotiating. The historical way of trying to make a purchase or sale is by calm discussion between both parties to agree upon a price that is satisfactory to both.
The Toronto market, since the middle of the late 90's took a great upward turn, gathering momentum yearly and almost every home in the central core had a delayed offer date, creating a frenetic market for the sellers and buyers. Few homes had a transaction with only one offer.
When I speak with buyers now, they want to wait to make a purchase because they feel that prices are going down. They do not feel this pent up anxiety to have to make a purchase immediately because the market is too calm for them, something they are not used to. Many buyers today have had only one experience in making an offer, that of bidding on a home that has tough competition, boosting the price way over asking. This left one extremely happy seller, only one happy buyer and many who were disappointed.
This is a great time to make a purchase. Interest rates remain low and stable. You can get a home inspection in a timely manner and make a knowledgeable decision based on excellent information. Negotiations between the seller and buyer are more in tune with a conventional market and purchasing a home now is usually at or below the asking price.
Last year properties were under priced to attract enormous competition. The right asking price for a property is critical this year because most houses are no longer attracting multiple offers. Sellers are advised to list at a price they would be willing to accept or use a realistic starting point for negotiations with a prospective buyer.
The Toronto real estate market is still healthy. Buyers and sellers must not get the impression that we are suffering the same market conditions as our neighbours south of the border. One thing we can say for our Government - we don't allow a zero percent down payment. The federal government has announced reforms aimed at avoiding a U.S. style housing price bubble. Starting Oct. 15, the Finance Department will stop guaranteeing 40-year mortgages and mortgage loans with no down payment. Unconventional mortgages under 20% down are insured through CMHC (Central Mortgage and Housing) and all buyers must qualify for a mortgage based on their income and debt ratio (unless using private financing).
Maureen O'Neill of the Toronto Real Estate Board says "The Toronto Real estate market has experienced a slow down in actual numbers of 7,806 sales of single-family dwellings sold from that of July 2007 figure of 8,912 but the sales were up 10 per cent from July 2006 (7,082).
Furthermore, the sales decrease in July 2008 from July of 2007 was distributed unevenly across the GTA. Within the City of Toronto, the 3,132 sales recorded in July 2008 is down 14 per cent from last July's 3,640 figure but up 10 per cent from the 2,852 sales recorded in July 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
Overall, the GTA average price rose just over one per cent in July 2008 over July 2007 to $371,427 from $366,012, and a nine per cent increase from $342,034 recorded during July 2006.
Once again, price movements differed depending on the part of the GTA involved.
Within City of Toronto boundaries, the increase was marginal (under one per cent) to $395,342 in July 2008 from $395,044 in July 2007 and up 10 per cent from the $360,409 recorded during July 2006".
The Toronto real estate market is strong and now is a great time to buy.
Diane Plant is a Broker with Forest Hill Real Estate, serving the Greater Toronto Area since 1988. She is in partnership with her son, Jeremy Plant, forming Team Plant. Get FREE membership to Team Plant's Preferred Buyer's Club by visiting our website http://www.team-plant.com and click on Buyers.
I invite all comments at diane@team-plant.com
The Toronto market, since the middle of the late 90's took a great upward turn, gathering momentum yearly and almost every home in the central core had a delayed offer date, creating a frenetic market for the sellers and buyers. Few homes had a transaction with only one offer.
When I speak with buyers now, they want to wait to make a purchase because they feel that prices are going down. They do not feel this pent up anxiety to have to make a purchase immediately because the market is too calm for them, something they are not used to. Many buyers today have had only one experience in making an offer, that of bidding on a home that has tough competition, boosting the price way over asking. This left one extremely happy seller, only one happy buyer and many who were disappointed.
This is a great time to make a purchase. Interest rates remain low and stable. You can get a home inspection in a timely manner and make a knowledgeable decision based on excellent information. Negotiations between the seller and buyer are more in tune with a conventional market and purchasing a home now is usually at or below the asking price.
Last year properties were under priced to attract enormous competition. The right asking price for a property is critical this year because most houses are no longer attracting multiple offers. Sellers are advised to list at a price they would be willing to accept or use a realistic starting point for negotiations with a prospective buyer.
The Toronto real estate market is still healthy. Buyers and sellers must not get the impression that we are suffering the same market conditions as our neighbours south of the border. One thing we can say for our Government - we don't allow a zero percent down payment. The federal government has announced reforms aimed at avoiding a U.S. style housing price bubble. Starting Oct. 15, the Finance Department will stop guaranteeing 40-year mortgages and mortgage loans with no down payment. Unconventional mortgages under 20% down are insured through CMHC (Central Mortgage and Housing) and all buyers must qualify for a mortgage based on their income and debt ratio (unless using private financing).
Maureen O'Neill of the Toronto Real Estate Board says "The Toronto Real estate market has experienced a slow down in actual numbers of 7,806 sales of single-family dwellings sold from that of July 2007 figure of 8,912 but the sales were up 10 per cent from July 2006 (7,082).
Furthermore, the sales decrease in July 2008 from July of 2007 was distributed unevenly across the GTA. Within the City of Toronto, the 3,132 sales recorded in July 2008 is down 14 per cent from last July's 3,640 figure but up 10 per cent from the 2,852 sales recorded in July 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
Overall, the GTA average price rose just over one per cent in July 2008 over July 2007 to $371,427 from $366,012, and a nine per cent increase from $342,034 recorded during July 2006.
Once again, price movements differed depending on the part of the GTA involved.
Within City of Toronto boundaries, the increase was marginal (under one per cent) to $395,342 in July 2008 from $395,044 in July 2007 and up 10 per cent from the $360,409 recorded during July 2006".
The Toronto real estate market is strong and now is a great time to buy.
Diane Plant is a Broker with Forest Hill Real Estate, serving the Greater Toronto Area since 1988. She is in partnership with her son, Jeremy Plant, forming Team Plant. Get FREE membership to Team Plant's Preferred Buyer's Club by visiting our website http://www.team-plant.com and click on Buyers.
I invite all comments at diane@team-plant.com
Toronto Residential Sales for August 2008
GTA Resale Housing Remains Steady Throughout Summer Months
September 4, 2008 -- The Greater Toronto resale housing market closed out the last full month of summer at a steady pace, Toronto Real Estate Board President Maureen O’Neill reported today.
The Greater Toronto Area (GTA) average price increased one per cent, to $364,886 when compared to last August’s figure of $361,890. Compared to the $338,192 figure recorded two years ago though, the average GTA has increased eight per cent.
In the City of Toronto the average price declined one per cent to $377,990 from last August’s $381,681. Compared to the August 2006 figure of $344,419 however, the average price in the City of Toronto has increased 10 per cent.
In the 905 Region the average price increased two per cent to $356,657 from last August’s $348,563. Compared to the August 2006 figure of $334,245 the average price in the 905 Region has increased seven per cent.
“These healthy figures substantiate that when undertaken as a long term investment, buying a home is one of the smartest financial moves you can make,” said Ms. O’Neill.
With 6,318 transactions recorded last month, sales in the GTA declined 22 per cent compared to the record August 2007 figure of 8,059. Volumes were off just nine per cent however, from the 6,976 sales recorded in August 2006.
In the City of Toronto, there were 2,437 sales in August, a 25 per cent decline from the 3,243 transactions recorded a year ago.
Compared to the 2,706 sales recorded in August 2006 though, this represents a 10 per cent decline. Sales increased 20 per cent between August 2006 and August 2007
September 4, 2008 -- The Greater Toronto resale housing market closed out the last full month of summer at a steady pace, Toronto Real Estate Board President Maureen O’Neill reported today.
The Greater Toronto Area (GTA) average price increased one per cent, to $364,886 when compared to last August’s figure of $361,890. Compared to the $338,192 figure recorded two years ago though, the average GTA has increased eight per cent.
In the City of Toronto the average price declined one per cent to $377,990 from last August’s $381,681. Compared to the August 2006 figure of $344,419 however, the average price in the City of Toronto has increased 10 per cent.
In the 905 Region the average price increased two per cent to $356,657 from last August’s $348,563. Compared to the August 2006 figure of $334,245 the average price in the 905 Region has increased seven per cent.
“These healthy figures substantiate that when undertaken as a long term investment, buying a home is one of the smartest financial moves you can make,” said Ms. O’Neill.
With 6,318 transactions recorded last month, sales in the GTA declined 22 per cent compared to the record August 2007 figure of 8,059. Volumes were off just nine per cent however, from the 6,976 sales recorded in August 2006.
In the City of Toronto, there were 2,437 sales in August, a 25 per cent decline from the 3,243 transactions recorded a year ago.
Compared to the 2,706 sales recorded in August 2006 though, this represents a 10 per cent decline. Sales increased 20 per cent between August 2006 and August 2007
Friday, August 8, 2008
July 8 Prices Up, Sales In Line With Seasonal Expectations
August 6, 2008 -- TREB Members reported 7,806 sales of single-family dwellings in July, continuing a healthy but not record setting pace into the summer. “Even though GTA sales were down 12 per cent from the best-ever July 2007 figure of 8,912, sales were up 10 per cent from July 2006 (7,082),” said TREB President Maureen O’Neill.
July 2007 saw a 26 per cent increase in sales over the 7,082 recorded in July 2006. Furthermore, the sales decrease in July 2008 from July of 2007 was
distributed unevenly across the GTA. Within the City of Toronto, the 3,132 sales recorded in July 2008 is down 14 per cent from last July’s 3,640 figure but up 10 per cent from the 2,852 sales recorded in July 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
In the 905 suburbs sales declined 11 per cent, to 4,674 in July 2008 from 5,272 last July, but increased 10 per cent from the 4,230 sales recorded in July 2006. Sales from July 2007 increased 25 per cent over July 2006.
Overall, the GTA average price rose just over one per cent in July 2008 over July 2007 to $371,427 from $366,012, and a nine per cent increase from $342,034 recorded during July 2006.
Once again, price movements differed depending on the part of the GTA involved.
Within City of Toronto boundaries, the increase was marginal (under one per cent) to $395,342 in July 2008 from $395,044 in July 2007 and up 10 per cent from the
$360,409 recorded during July 2006.
In the 905 municipalities surrounding the City of Toronto, however, the average price climbed almost three per cent to $355,401 in July 2008 from the July 2007
figure of $345,967 and up eight per cent from $329,644 recorded during July 2006.
Breaking down the total, 3,045 sales were reported in TREB’s 28 West districts and averaged $352,956; 1,349 sales were reported in the 14 Central districts and
averaged $467,743; 1,519 sales were reported in the 23 North districts and averaged $408,815; and 1,893 sales were reported in TREB’s 21 East districts and averaged $301,658.
NEIGHBOURHOOD CORNER
North York
In the first seven months of 2008, North York (C04,C06,C07, and C12 through C15) has seen 4,129 sales, down 19 per cent from the 5,115 recorded during the January to July period of 2007. The price averaged $500,109, up two per cent over the $488,663 recoded during the comparable period last year.
GTA Resale Housing Stable in July
August 6, 2008 -- With 7,806 transactions recorded last month, the Greater Toronto Area (GTA) resale housing market continued at a moderate pace in July, Toronto Real Estate Board (TREB) President Maureen O’Neill announced today.
Prices remained stable throughout the GTA in July. At $371,427 the average price increased slightly more than one per cent from $366,012 recorded in July 2007 and nine per cent from the $342,034 figure of two years ago.
In the City of Toronto the average price of $395,342 increased less than one per cent from the July 2007 price of $395,044 and 10 per cent from the July 2006 figure of $360,409.
In the 905 Region the average price increased three per cent to $355,401 compared to the July 2007 figure of $345,967. This also represents an eight per cent increase from the July 2006 average of $329,644.
“Sales declined 12 per cent last month from the best-ever July 2007 record of 8,912 but increased 10 per cent from the 7,082 sales transacted in July 2006,” said Ms. O’Neill. “Comparing July 2007 with July 2006, sales increased by 26 per cent.”
In the City of Toronto 3,132 sales were recorded, down 14 per cent from July 2007’s 3,640 transactions but up 10 per cent from the 2,852 sales recorded two years ago in 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
In the 905 Region there were 4,674 transactions, down 11 per cent from July 2007’s 5,272 sales but up 10 per cent from the 4,230 sales recorded in July 2006. Comparing July 2007 with July 2006, sales increased 25 per cent.
From a year-to-date perspective, the GTA’s 51,249 sales in 2008 have declined 14 per cent from the 59,339 reached at this time a year ago.
Certain neighbourhoods throughout the GTA experienced increased sales activity in July.
In Whitby (E15) sales increased 22 per cent from July 2007, based on strong sales in most housing types.
Brampton East (W24) saw a 12 per cent increase, based primarily on semi-detached home sales.
Strong detached home sales drove Uxbridge (N16) to a 23 per cent increase compared to a year ago.
The Annex (C02) experienced a 29 per cent sales increase due to strong detached home and condominium apartment sales.
In addition to stable prices, the list to sale price ratio, at 98 per cent, remains unchanged from a year ago.
“While homeowners continue to see healthy returns, it is taking slightly longer to achieve a sale; the average time on market has increased to 33 days compared to 31 days a year ago,” said Ms. O’Neill. “This may be due to that fact that there is now more choice available to homebuyers; there are currently 26,543 active listings, a 28 per cent increase from a year ago.”
July 2007 saw a 26 per cent increase in sales over the 7,082 recorded in July 2006. Furthermore, the sales decrease in July 2008 from July of 2007 was
distributed unevenly across the GTA. Within the City of Toronto, the 3,132 sales recorded in July 2008 is down 14 per cent from last July’s 3,640 figure but up 10 per cent from the 2,852 sales recorded in July 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
In the 905 suburbs sales declined 11 per cent, to 4,674 in July 2008 from 5,272 last July, but increased 10 per cent from the 4,230 sales recorded in July 2006. Sales from July 2007 increased 25 per cent over July 2006.
Overall, the GTA average price rose just over one per cent in July 2008 over July 2007 to $371,427 from $366,012, and a nine per cent increase from $342,034 recorded during July 2006.
Once again, price movements differed depending on the part of the GTA involved.
Within City of Toronto boundaries, the increase was marginal (under one per cent) to $395,342 in July 2008 from $395,044 in July 2007 and up 10 per cent from the
$360,409 recorded during July 2006.
In the 905 municipalities surrounding the City of Toronto, however, the average price climbed almost three per cent to $355,401 in July 2008 from the July 2007
figure of $345,967 and up eight per cent from $329,644 recorded during July 2006.
Breaking down the total, 3,045 sales were reported in TREB’s 28 West districts and averaged $352,956; 1,349 sales were reported in the 14 Central districts and
averaged $467,743; 1,519 sales were reported in the 23 North districts and averaged $408,815; and 1,893 sales were reported in TREB’s 21 East districts and averaged $301,658.
NEIGHBOURHOOD CORNER
North York
In the first seven months of 2008, North York (C04,C06,C07, and C12 through C15) has seen 4,129 sales, down 19 per cent from the 5,115 recorded during the January to July period of 2007. The price averaged $500,109, up two per cent over the $488,663 recoded during the comparable period last year.
GTA Resale Housing Stable in July
August 6, 2008 -- With 7,806 transactions recorded last month, the Greater Toronto Area (GTA) resale housing market continued at a moderate pace in July, Toronto Real Estate Board (TREB) President Maureen O’Neill announced today.
Prices remained stable throughout the GTA in July. At $371,427 the average price increased slightly more than one per cent from $366,012 recorded in July 2007 and nine per cent from the $342,034 figure of two years ago.
In the City of Toronto the average price of $395,342 increased less than one per cent from the July 2007 price of $395,044 and 10 per cent from the July 2006 figure of $360,409.
In the 905 Region the average price increased three per cent to $355,401 compared to the July 2007 figure of $345,967. This also represents an eight per cent increase from the July 2006 average of $329,644.
“Sales declined 12 per cent last month from the best-ever July 2007 record of 8,912 but increased 10 per cent from the 7,082 sales transacted in July 2006,” said Ms. O’Neill. “Comparing July 2007 with July 2006, sales increased by 26 per cent.”
In the City of Toronto 3,132 sales were recorded, down 14 per cent from July 2007’s 3,640 transactions but up 10 per cent from the 2,852 sales recorded two years ago in 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
In the 905 Region there were 4,674 transactions, down 11 per cent from July 2007’s 5,272 sales but up 10 per cent from the 4,230 sales recorded in July 2006. Comparing July 2007 with July 2006, sales increased 25 per cent.
From a year-to-date perspective, the GTA’s 51,249 sales in 2008 have declined 14 per cent from the 59,339 reached at this time a year ago.
Certain neighbourhoods throughout the GTA experienced increased sales activity in July.
In Whitby (E15) sales increased 22 per cent from July 2007, based on strong sales in most housing types.
Brampton East (W24) saw a 12 per cent increase, based primarily on semi-detached home sales.
Strong detached home sales drove Uxbridge (N16) to a 23 per cent increase compared to a year ago.
The Annex (C02) experienced a 29 per cent sales increase due to strong detached home and condominium apartment sales.
In addition to stable prices, the list to sale price ratio, at 98 per cent, remains unchanged from a year ago.
“While homeowners continue to see healthy returns, it is taking slightly longer to achieve a sale; the average time on market has increased to 33 days compared to 31 days a year ago,” said Ms. O’Neill. “This may be due to that fact that there is now more choice available to homebuyers; there are currently 26,543 active listings, a 28 per cent increase from a year ago.”
Monday, July 14, 2008
Explore Toronto on Foot
The Toronto Star
Jun 26, 2008
There are plenty of opportunities to connect with nature in the city. High Park and Edwards Gardens are well-known to most. If the concrete jungle's more your thing, explore the urban charms of Toronto. Here are some examples of sites to get started.
There are plenty of opportunities to connect with nature in the city. High Park and Edwards Gardens are well-known to most. If the concrete jungle's more your thing, explore the urban charms of Toronto. Here are some examples of sites to get started.
Lawrence/Sherwood Park
Alexander Muir Memorial Gardens is just two short blocks south of the Lawrence Ave. subway station.
Named for the man who penned “The Maple Leaf Forever,” the park features lovely stone terraces that are hugely popular for wedding photos.
There are sumptuous gardens with winding paths and hidden nooks that are perfect for a quiet romantic interlude. You can walk south and east through a quiet ravine filled with towering trees and cross under Mt. Pleasant Rd., then go up a small hill, cross Blythwood Rd. and slip into sprawling Sherwood Park.
Then, you can either retrace your steps or go west up the hill to Sherwood Ave. and work your way to Yonge St., then head south to Eglinton Ave. or north to Lawrence for the subway.
Jim Byers
______________________________________________________
DON VALLEY BRICK WORKS
The old Don Valley Brick Works has been transformed into an outstanding attraction.
There are large ponds dotted with lily pads and bulrushes, where herons sail silently and red-winged blackbirds dart to and fro.
There are wildflower meadows and lovely walks and benches to rest your weary bones. You can sometimes spot 400-million-year-old fossils in the shale that lies on the west side of the old quarry, as the site was part of a subtropical sea long, long ago.
There’s also some terrific industrial architecture and various nature programs offered. Visit evergreen.caÖ and click on “evergreen brick works” for more information.
The TTC now offers Saturday service from the Davisville subway station.
Jim Byers
_______________________________________________________
RATTRAY MARSH
Listen hard and you can hear faint traffic behind the stand of giant maples, oaks and birches at your back. But it’s drowned out by the classic song of the marsh before you: the throaty brrrr of red-winged blackbirds, darting from bulrush to tall tree.
When you need a little wilderness, there’s no better stroll than Mississauga’s Rattray Marsh, a Credit Valley Conservation gem on the lakeshore. Encompassing woodland, marsh, beach and meadow, the birder’s paradise shelters species like herons, wood warblers, eastern kingbirds, tree swallows, catbirds and spotted sandpipers. Rabbits, beaver, deer, foxes, turtles, snakes and spring peepers, too.
Easiest entry is via adjacent Jack Darling Park. Walk west along the beach. A wooden bridge marks the start of a beguiling boardwalk that skirts the marsh, passing around an ancient oak knoll and into woods.
Three viewing platforms let you watch wildlife or just admire irises glowing purple against green reeds and brown water, its silty richness carried down from Sheridan Creek. In the meadow beyond, wildflowers perfume the breeze.
Doreen Martens
_________________________________________________________
TORONTO ISLANDS
Of course, everyone knows about the Centre Island ferry from the foot of Bay St. But there’s an enormous island out there waiting to be explored. Avoid the crowds and take the boat to Hanlan’s Point, instead.
There are lovely walks along inland bays, with glimpses of Toronto’s finest boats and gaggles of baby ducks and geese as you stroll past towering willows. You can doff your chapeau (and a lot more, if you like) at the nearby clothing-optional beach or wander up to the beach near Gibraltar Point.
There are places to fish and rollerblade. You can also rent a canoe or a bike. Franklin Garden (named after the famous turtle) on Centre Island offers outdoor activities for the younger set. Check out the crab cakes at The Rectory Café on Ward’s Island, which has the loveliest and quietest patio in the city, and be sure to admire the homes and some of the stunning gardens at the east end of the island.
Jim Byers
________________________________________________________
HIGHLAND CREEK PARKS
From Beechgrove Dr. and Lawrence Ave. E., travel south on Beechgrove to Copperfield Rd., then walk, bike or rollerblade east along the paved path to the mouth of Highland Creek at Lake Ontario.
Further east, past the fork of two footbridges, you’ll find the newly developed Port Union Village Common Park, which includes lookout points with spectacular views across the lake, more than a kilometre of man-made rock beach and a great open-park setting to soak up the sunshine.
Alternatively, travel north at the footbridge fork, along the Highland Creek path as it meanders beside the river through lush forest, wildflowers and ferns.
Many species of birds can be observed, along with deer, fox and coyote, if you’re lucky and early or late in the day.
The path continues under Lawrence Ave. E. toward Col. Danforth Park. Ultimately, the route takes you through all of south Scarborough’s ravines flanking Highland Creek and its tributaries.
Pat Burton
__________________________________________________________
URBAN CHARM
Roncesvalles
One of Toronto's liveliest and authentic neighbourhood streets, Roncesvalles Ave. is the heart of the Polish community.
But it's also a cosmopolitan mix with a jazz club, Gate 403, a repertory cinema, The Revue, green grocers on corners, and a sprinkling of Thai and Indian restaurants.
In the south, Roncesvalles begins with TTC street car barns and a monument to the Katyn massacre of World War II, and a sweeping view of Lake Ontario.
Walking north, you'll pass Polish delis, with racks of smoked sausage, independent coffee shops, (Cherry Bomb and Alternative Grounds) with hipsters, independent bookstores, (Another Story and She Said Boom!) and the tiny, perfect cheese store, Thin Blue Line.
_____________________________________________________________
UNIONVILLE
Unionville's Main St. offers a blend of historic charm, small-town friendliness and high-end sophistication, all wrapped up in a lovely package with historic buildings.
The Harvest Wine Bar has a variety of fine wines and an eclectic menu. The owner of Kris clothing knows her clientele and buys her products in Europe with specific customers in mind. There are art galleries, including the Fred Varley, plenty of coffee shops and ice cream options. Toogood Pond has spots for picnics, fishing and lovely strolls along the water. It's a couple minutes off Hwy. 404, just north of Toronto's city limits.
______________________________________________________
LITTLE INDIA
From the intersection of Highfield Rd. and Gerrard St. E. begins a world of raucous colour, of milling crowds, of spicy food. It's as close you can come to India in Toronto.
Start with a visit to the Maharani Emporium, where you can get traditional gifts such as handicrafts and statues of gods and goddesses. Across the street is the Indian record shop, where you can pick up Bollywood movies and classical Indian music. The Milan Saree Shop offers saris and lehngas with intricate designs in sharp colours.
Hungry? Head to the Regency for piping-hot north Indian fare. Or try south Indian food at Udupi Palace.
________________________________________________________
BAYVIEW AVE.
In a few blocks south of Eglinton you can find everything from scrumptious pastries and baked goods at COBS Bread, as well as Epi Breads (try the sourdough) and Patisserie La Cigogne, which makes a killer chocolate croissant. Terrific ice cream-like treats are offered at Hollywood Gelato. Restaurants range from Indian to southern U.S. barbecue. Check out the Vietnamese/Thai cuisine at Riz or Lemongrass and the meaty selections at Cluck, Grunt and Low. Or wander into Duff's Famous Wings for a taste of Buffalo. Fun shops include The Smokin' Cigar and Sleuth of Baker Street, which features visiting authors such as Harlan Coben.
__________________________________________________________
LESLIEVILLE
Leslieville is a scrappy east-end working-class neighbourhood that has recently been gentrified by artistic types, many employed in the local film industry.
Antique and funky furniture stores, healthy food shops and trendy restaurants vie for attention amidst historic buildings like the Opera House, now a club venue, and the Queen/Saulter Library.
Queen St. E. is its nerve centre, beginning at Jilly's strip club at Broadview Ave. on the west and ending at the Duke of Connaught at Leslie St. Brick Street Bread, an organic bread store at Logan Ave., and the Leslieville Cheese Market are two examples of niche establishments catering to discerning foodies who also dine at places like Kubo Radio, featuring Asian cuisine, and Pulp Kitchen, a healthy eatery/juice bar.
Jun 26, 2008
There are plenty of opportunities to connect with nature in the city. High Park and Edwards Gardens are well-known to most. If the concrete jungle's more your thing, explore the urban charms of Toronto. Here are some examples of sites to get started.
There are plenty of opportunities to connect with nature in the city. High Park and Edwards Gardens are well-known to most. If the concrete jungle's more your thing, explore the urban charms of Toronto. Here are some examples of sites to get started.
Lawrence/Sherwood Park
Alexander Muir Memorial Gardens is just two short blocks south of the Lawrence Ave. subway station.
Named for the man who penned “The Maple Leaf Forever,” the park features lovely stone terraces that are hugely popular for wedding photos.
There are sumptuous gardens with winding paths and hidden nooks that are perfect for a quiet romantic interlude. You can walk south and east through a quiet ravine filled with towering trees and cross under Mt. Pleasant Rd., then go up a small hill, cross Blythwood Rd. and slip into sprawling Sherwood Park.
Then, you can either retrace your steps or go west up the hill to Sherwood Ave. and work your way to Yonge St., then head south to Eglinton Ave. or north to Lawrence for the subway.
Jim Byers
______________________________________________________
DON VALLEY BRICK WORKS
The old Don Valley Brick Works has been transformed into an outstanding attraction.
There are large ponds dotted with lily pads and bulrushes, where herons sail silently and red-winged blackbirds dart to and fro.
There are wildflower meadows and lovely walks and benches to rest your weary bones. You can sometimes spot 400-million-year-old fossils in the shale that lies on the west side of the old quarry, as the site was part of a subtropical sea long, long ago.
There’s also some terrific industrial architecture and various nature programs offered. Visit evergreen.caÖ and click on “evergreen brick works” for more information.
The TTC now offers Saturday service from the Davisville subway station.
Jim Byers
_______________________________________________________
RATTRAY MARSH
Listen hard and you can hear faint traffic behind the stand of giant maples, oaks and birches at your back. But it’s drowned out by the classic song of the marsh before you: the throaty brrrr of red-winged blackbirds, darting from bulrush to tall tree.
When you need a little wilderness, there’s no better stroll than Mississauga’s Rattray Marsh, a Credit Valley Conservation gem on the lakeshore. Encompassing woodland, marsh, beach and meadow, the birder’s paradise shelters species like herons, wood warblers, eastern kingbirds, tree swallows, catbirds and spotted sandpipers. Rabbits, beaver, deer, foxes, turtles, snakes and spring peepers, too.
Easiest entry is via adjacent Jack Darling Park. Walk west along the beach. A wooden bridge marks the start of a beguiling boardwalk that skirts the marsh, passing around an ancient oak knoll and into woods.
Three viewing platforms let you watch wildlife or just admire irises glowing purple against green reeds and brown water, its silty richness carried down from Sheridan Creek. In the meadow beyond, wildflowers perfume the breeze.
Doreen Martens
_________________________________________________________
TORONTO ISLANDS
Of course, everyone knows about the Centre Island ferry from the foot of Bay St. But there’s an enormous island out there waiting to be explored. Avoid the crowds and take the boat to Hanlan’s Point, instead.
There are lovely walks along inland bays, with glimpses of Toronto’s finest boats and gaggles of baby ducks and geese as you stroll past towering willows. You can doff your chapeau (and a lot more, if you like) at the nearby clothing-optional beach or wander up to the beach near Gibraltar Point.
There are places to fish and rollerblade. You can also rent a canoe or a bike. Franklin Garden (named after the famous turtle) on Centre Island offers outdoor activities for the younger set. Check out the crab cakes at The Rectory Café on Ward’s Island, which has the loveliest and quietest patio in the city, and be sure to admire the homes and some of the stunning gardens at the east end of the island.
Jim Byers
________________________________________________________
HIGHLAND CREEK PARKS
From Beechgrove Dr. and Lawrence Ave. E., travel south on Beechgrove to Copperfield Rd., then walk, bike or rollerblade east along the paved path to the mouth of Highland Creek at Lake Ontario.
Further east, past the fork of two footbridges, you’ll find the newly developed Port Union Village Common Park, which includes lookout points with spectacular views across the lake, more than a kilometre of man-made rock beach and a great open-park setting to soak up the sunshine.
Alternatively, travel north at the footbridge fork, along the Highland Creek path as it meanders beside the river through lush forest, wildflowers and ferns.
Many species of birds can be observed, along with deer, fox and coyote, if you’re lucky and early or late in the day.
The path continues under Lawrence Ave. E. toward Col. Danforth Park. Ultimately, the route takes you through all of south Scarborough’s ravines flanking Highland Creek and its tributaries.
Pat Burton
__________________________________________________________
URBAN CHARM
Roncesvalles
One of Toronto's liveliest and authentic neighbourhood streets, Roncesvalles Ave. is the heart of the Polish community.
But it's also a cosmopolitan mix with a jazz club, Gate 403, a repertory cinema, The Revue, green grocers on corners, and a sprinkling of Thai and Indian restaurants.
In the south, Roncesvalles begins with TTC street car barns and a monument to the Katyn massacre of World War II, and a sweeping view of Lake Ontario.
Walking north, you'll pass Polish delis, with racks of smoked sausage, independent coffee shops, (Cherry Bomb and Alternative Grounds) with hipsters, independent bookstores, (Another Story and She Said Boom!) and the tiny, perfect cheese store, Thin Blue Line.
_____________________________________________________________
UNIONVILLE
Unionville's Main St. offers a blend of historic charm, small-town friendliness and high-end sophistication, all wrapped up in a lovely package with historic buildings.
The Harvest Wine Bar has a variety of fine wines and an eclectic menu. The owner of Kris clothing knows her clientele and buys her products in Europe with specific customers in mind. There are art galleries, including the Fred Varley, plenty of coffee shops and ice cream options. Toogood Pond has spots for picnics, fishing and lovely strolls along the water. It's a couple minutes off Hwy. 404, just north of Toronto's city limits.
______________________________________________________
LITTLE INDIA
From the intersection of Highfield Rd. and Gerrard St. E. begins a world of raucous colour, of milling crowds, of spicy food. It's as close you can come to India in Toronto.
Start with a visit to the Maharani Emporium, where you can get traditional gifts such as handicrafts and statues of gods and goddesses. Across the street is the Indian record shop, where you can pick up Bollywood movies and classical Indian music. The Milan Saree Shop offers saris and lehngas with intricate designs in sharp colours.
Hungry? Head to the Regency for piping-hot north Indian fare. Or try south Indian food at Udupi Palace.
________________________________________________________
BAYVIEW AVE.
In a few blocks south of Eglinton you can find everything from scrumptious pastries and baked goods at COBS Bread, as well as Epi Breads (try the sourdough) and Patisserie La Cigogne, which makes a killer chocolate croissant. Terrific ice cream-like treats are offered at Hollywood Gelato. Restaurants range from Indian to southern U.S. barbecue. Check out the Vietnamese/Thai cuisine at Riz or Lemongrass and the meaty selections at Cluck, Grunt and Low. Or wander into Duff's Famous Wings for a taste of Buffalo. Fun shops include The Smokin' Cigar and Sleuth of Baker Street, which features visiting authors such as Harlan Coben.
__________________________________________________________
LESLIEVILLE
Leslieville is a scrappy east-end working-class neighbourhood that has recently been gentrified by artistic types, many employed in the local film industry.
Antique and funky furniture stores, healthy food shops and trendy restaurants vie for attention amidst historic buildings like the Opera House, now a club venue, and the Queen/Saulter Library.
Queen St. E. is its nerve centre, beginning at Jilly's strip club at Broadview Ave. on the west and ending at the Duke of Connaught at Leslie St. Brick Street Bread, an organic bread store at Logan Ave., and the Leslieville Cheese Market are two examples of niche establishments catering to discerning foodies who also dine at places like Kubo Radio, featuring Asian cuisine, and Pulp Kitchen, a healthy eatery/juice bar.
July to Ocober in Toronto 2008
Fresh Wednesdays - Nathan Phillips Square July 9 - August 27, 2008(Farmers Market runs June 4 - October 15, 2008)
Tasty Thursdays - Nathan Phillips Square July 10 - August 28, 2008
Sunday Serenades - Mel Lastman Square July 13 - August 24, 2008
Tasty Thursdays - Nathan Phillips Square July 10 - August 28, 2008
Sunday Serenades - Mel Lastman Square July 13 - August 24, 2008
July 22 until August Toronto Summer Music http://www.torontosummermusic.com/downloads/2008_TSMF_festivalcalendar-PF.pdf
07/23/2008 07/27/2008 Just For Laughs Toronto Downtown
Sunday, July 13, 2008
Greater Toronto Area Resale Housing More Balanced in June
July 4, 2008 -- The trend toward more balanced market conditions continued in June with 8,600 properties changing hands, Toronto Real Estate Board President Maureen O’Neill announced today.
At $395,866, the Greater Toronto Area average price for last month increased by four per cent compared to June 2007 when it was $381,963. The City of Toronto’s average price of $433,082 last month increased three per cent from $421,139 in June 2007. In the 905 Region, last month’s average was $370,559, an increase of four per cent, from $355,240 in June 2007.
In the first two quarters of 2008, the average GTA price increased four per cent to $390,054 from $373,719 during the same time period in 2007, and up 9 per cent from the $356,977 recorded in the same period in 2006.
In the City of Toronto, the average price in 2008 increased four per cent to $427,198from $411,530 in 2007, and up 10 per cent from $389,313 during the same period in 2006. In the 905 Region the increase was five per cent to $365,536 from $347,852 a year ago, up 9 per cent from$334,220 in 2006.
“Although June 2008 sales in the Greater Toronto Area (GTA) have declined 18 per cent to 8,600 from the June 2007 total of 10,451, June 2007 was the best performance ever for that month,” said Ms. O’Neill.
“This year we’re seeing a return to calmer conditions but the market remains healthy. When compared to the 8,730 transactions in June 2006, GTA sales activity in June 2008 decreased by only one per cent.” Record month June 2007 saw a 20 per cent increase over June 2006.
In the City of Toronto there were 3,481 transactions last month, a decline of 18 per cent from June 2007 with 4,238 sales but down 4 per cent over the 3,641 transactions in June 2006. When you compare record month June 2007 with June 2006, a period before the Toronto Land Transfer Tax went into effect, sales increased 16 per cent.
The 905 Region experienced an equivalent decline of 18 per cent, with 5,119 sales last month compared to 6,213 transactions in June 2007 but a one per cent increase over the 5089 properties sold in June 2006. When you compare record month June 2007 with June 2006, sales in the 905Region increased by 22 per cent.
In the first two quarters of 2008, GTA sales declined 14 per cent to 43,685 transactions from 50,648 during the same time a year ago and down five per cent from the 45,797 recorded in the same period in 2006. When you compare the first two quarters of 2007 with the same period in 2006, GTA sales increased by 11 per cent.
In the City of Toronto, sales for the first two quarters declined 15 per cent to 17,370 from 20,574 in 2007 and down 8 per cent from 18,917 in 2006. In the 905 Region sales declined 12 per cent to 26,315 from 30,074 in 2007 and down 2 per cent from 26,880 in 2006. However, when you compare the first two quarters of 2007 with the same period in 2006, sales increased by 9 per cent in the City of Toronto and by 12 per cent in the 905 Region.
“The increase in listings we have seen in recent months has resulted in a slightly longer period during which homes are on the market, from 29 days a year ago to 34 days currently,” said Ms. O’Neill. “This has given buyers and sellers a little more time to make well-considered decisions.”
“We expect to see balanced market conditions continue in the coming months,” said Ms. O’Neill. “When you look at it from a long-term perspective real estate invariably provides stable returns.”
At $395,866, the Greater Toronto Area average price for last month increased by four per cent compared to June 2007 when it was $381,963. The City of Toronto’s average price of $433,082 last month increased three per cent from $421,139 in June 2007. In the 905 Region, last month’s average was $370,559, an increase of four per cent, from $355,240 in June 2007.
In the first two quarters of 2008, the average GTA price increased four per cent to $390,054 from $373,719 during the same time period in 2007, and up 9 per cent from the $356,977 recorded in the same period in 2006.
In the City of Toronto, the average price in 2008 increased four per cent to $427,198from $411,530 in 2007, and up 10 per cent from $389,313 during the same period in 2006. In the 905 Region the increase was five per cent to $365,536 from $347,852 a year ago, up 9 per cent from$334,220 in 2006.
“Although June 2008 sales in the Greater Toronto Area (GTA) have declined 18 per cent to 8,600 from the June 2007 total of 10,451, June 2007 was the best performance ever for that month,” said Ms. O’Neill.
“This year we’re seeing a return to calmer conditions but the market remains healthy. When compared to the 8,730 transactions in June 2006, GTA sales activity in June 2008 decreased by only one per cent.” Record month June 2007 saw a 20 per cent increase over June 2006.
In the City of Toronto there were 3,481 transactions last month, a decline of 18 per cent from June 2007 with 4,238 sales but down 4 per cent over the 3,641 transactions in June 2006. When you compare record month June 2007 with June 2006, a period before the Toronto Land Transfer Tax went into effect, sales increased 16 per cent.
The 905 Region experienced an equivalent decline of 18 per cent, with 5,119 sales last month compared to 6,213 transactions in June 2007 but a one per cent increase over the 5089 properties sold in June 2006. When you compare record month June 2007 with June 2006, sales in the 905Region increased by 22 per cent.
In the first two quarters of 2008, GTA sales declined 14 per cent to 43,685 transactions from 50,648 during the same time a year ago and down five per cent from the 45,797 recorded in the same period in 2006. When you compare the first two quarters of 2007 with the same period in 2006, GTA sales increased by 11 per cent.
In the City of Toronto, sales for the first two quarters declined 15 per cent to 17,370 from 20,574 in 2007 and down 8 per cent from 18,917 in 2006. In the 905 Region sales declined 12 per cent to 26,315 from 30,074 in 2007 and down 2 per cent from 26,880 in 2006. However, when you compare the first two quarters of 2007 with the same period in 2006, sales increased by 9 per cent in the City of Toronto and by 12 per cent in the 905 Region.
“The increase in listings we have seen in recent months has resulted in a slightly longer period during which homes are on the market, from 29 days a year ago to 34 days currently,” said Ms. O’Neill. “This has given buyers and sellers a little more time to make well-considered decisions.”
“We expect to see balanced market conditions continue in the coming months,” said Ms. O’Neill. “When you look at it from a long-term perspective real estate invariably provides stable returns.”
Saturday, July 12, 2008
Say goodbye to ZER0 down mortgages and 40 year amortizations in Canada
Ottawa tightens mortgage rules to avoid 'bubble'…no more zero down mortgages and 40 year amortizations
LORI MCLEOD AND KEVIN CARMICHAEL Thursday, July 10, 2008
The federal government is cracking down on the mortgage industry in a move that could help protect against a U.S.-style housing bubble, but will also make it tougher to borrow money to buy a home. The Finance Department said yesterday it will stop backing mortgages with amortization periods longer than 35 years as of Oct. 15. It will also start demanding a down payment equal to at least 5 per cent of the home's value, rather than guaranteeing mortgages where they buyer has borrowed the total amount.
"Today's announcement marks a responsible and measured approach by the government to ensure Canada's housing market remains strong, and to reduce the risk of a U.S.-style housing bubble developing in Canada," the Finance Department said in a statement. Existing 40-year mortgages will be grandfathered, a Finance Department spokesman said.
In 2006, the maximum amortization period was extended to 40 years from 25, and longer-term mortgage products have become increasingly popular with buyers looking for lower monthly payments as the price of Canadian homes soared. Last year, 37 per cent of new mortgages were for terms of longer than 25 years, according to the Canadian Association of Accredited Mortgage Professionals (CAAMP).
But while longer amortizations stretch out monthly payments, they also greatly increase the cost of a mortgage over its lifetime.
For example, the total interest on a $300,000 mortgage can soar from $286,161 over the life of a 25-year mortgage to $498,416 over a 40-year amortization period - adding more than $200,000 to the cost of the home.
This, combined with the fact that these mortgages are often combined with little or no equity, raised alarm bells with policy makers looking at the turmoil that took place in the U.S. when house prices started to fall.
"We've seen an inclination now, a trend, toward longer-term amortizations and smaller down payments, and that is a matter of some concern," Finance Minister Jim Flaherty said in a speech in May. Mr. Flaherty was not available for comment yesterday.
Reaction from the industry was mixed.
"CMHC supports the new parameters ... . We also support their efforts to maintain the strong Canadian housing market," said spokesperson Stephanie Rubec, adding CMHC will stop insuring 40-year and zero down payment mortgages in October.
"It's the right move," said Nick Kyprianou, president of Home Capital Group Inc., whose principal subsidiary, Home Trust Co., provides alternative mortgages. "Why get people overextended? Nobody wins by getting people right to the end of the cliff."
Others, however, say home buyers and banks have been prudent with their finances, and are being punished for the more lax approach south of the border."Things here are not like they are in the U.S. where they had those NINJA loans, no income, no job, no assets. ... It's only going to hurt the consumer," said John Panagakos, owner of Toronto brokerage Mortgage Centre.
The move actually comes at a time when the housing market has moved on to other concerns, the most pressing of which is chilling consumer sentiment due to high fuel prices, said Douglas Porter, deputy chief economist at BMO Nesbitt Burns Inc.
"It's a bit like closing the barn door after the horse has already run down the road."
LORI MCLEOD AND KEVIN CARMICHAEL Thursday, July 10, 2008
The federal government is cracking down on the mortgage industry in a move that could help protect against a U.S.-style housing bubble, but will also make it tougher to borrow money to buy a home. The Finance Department said yesterday it will stop backing mortgages with amortization periods longer than 35 years as of Oct. 15. It will also start demanding a down payment equal to at least 5 per cent of the home's value, rather than guaranteeing mortgages where they buyer has borrowed the total amount.
"Today's announcement marks a responsible and measured approach by the government to ensure Canada's housing market remains strong, and to reduce the risk of a U.S.-style housing bubble developing in Canada," the Finance Department said in a statement. Existing 40-year mortgages will be grandfathered, a Finance Department spokesman said.
In 2006, the maximum amortization period was extended to 40 years from 25, and longer-term mortgage products have become increasingly popular with buyers looking for lower monthly payments as the price of Canadian homes soared. Last year, 37 per cent of new mortgages were for terms of longer than 25 years, according to the Canadian Association of Accredited Mortgage Professionals (CAAMP).
But while longer amortizations stretch out monthly payments, they also greatly increase the cost of a mortgage over its lifetime.
For example, the total interest on a $300,000 mortgage can soar from $286,161 over the life of a 25-year mortgage to $498,416 over a 40-year amortization period - adding more than $200,000 to the cost of the home.
This, combined with the fact that these mortgages are often combined with little or no equity, raised alarm bells with policy makers looking at the turmoil that took place in the U.S. when house prices started to fall.
"We've seen an inclination now, a trend, toward longer-term amortizations and smaller down payments, and that is a matter of some concern," Finance Minister Jim Flaherty said in a speech in May. Mr. Flaherty was not available for comment yesterday.
Reaction from the industry was mixed.
"CMHC supports the new parameters ... . We also support their efforts to maintain the strong Canadian housing market," said spokesperson Stephanie Rubec, adding CMHC will stop insuring 40-year and zero down payment mortgages in October.
"It's the right move," said Nick Kyprianou, president of Home Capital Group Inc., whose principal subsidiary, Home Trust Co., provides alternative mortgages. "Why get people overextended? Nobody wins by getting people right to the end of the cliff."
Others, however, say home buyers and banks have been prudent with their finances, and are being punished for the more lax approach south of the border."Things here are not like they are in the U.S. where they had those NINJA loans, no income, no job, no assets. ... It's only going to hurt the consumer," said John Panagakos, owner of Toronto brokerage Mortgage Centre.
The move actually comes at a time when the housing market has moved on to other concerns, the most pressing of which is chilling consumer sentiment due to high fuel prices, said Douglas Porter, deputy chief economist at BMO Nesbitt Burns Inc.
"It's a bit like closing the barn door after the horse has already run down the road."
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