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
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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
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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
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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
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Whatever the holiday, the city will generaly have something going on at Nathan Phillips Square. Great ice rink throughout the winter
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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.
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Monday, October 6, 2008
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.”
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