Yesterday, Bank of Canada lowered the overnight rate for the second time this year by .25% due to a weaker than expected economy in the first two quarters. What does that mean if you are shopping for a new home or planning to sell and buy a home? The common questions is whether the drop in interest rate will fuel the already heated market and drive up consumer debt? This could mean that more people will be able to afford to buy, so margin borrowers can buy more house so-to-speak, or in a better position to enter the housing market. Next, will be to see how all the chartered banks reacts with the news to adjust their current lending rate. TD was the first to jump on lowering their prime by 10bp at 2.75%.  The Canadian economy is contracting blaming slower global growth and low oil pri... 07/16/2015

 This weekend, I took a scenic walk by Bluffers Park and Marina, which is located just 25 minutes drive eastward from Toronto's bustling Downtown core. The Scarborough Bluffs and Bluffers Beach offers a secluded tranquil escape along the Toronto waterfront, with protected wildlife, hiking trails, picnic areas and a large marina. One of the unique features at the Bluffers Park Marina are a community of 24 exclusive floating homes. They are year round residential dwellings similar in construction to conventional homes, equiped with modern amenities, roof decks, plumbing, electricity, furnaces etc.  The community attracts creative work at home types, that enjoys small community living and active outdoor lifestyle.                                                                             ... 07/13/2015

Condos, then Freehold Houses, then Townhouses and then back to Condos I met, a potential client, a couple of years ago ……., last year she said to me she was planning on buying a condo in two years time.  She had her eye on a particular condo complex. A beautiful high-end older complex, so the units were larger. She needed space, a minimum of 1400 sq ft. Then in February this year she called to say she wanted to buy sooner rather than later ………, no problem. However, there were no units available for sale in that complex…….. So, she decided to look at other buildings, in her preferred area. I showed her some units; she was not very keen on any of them. The showings continued, some on her own and some with her mother. A beautiful soul, very spritely for her age. She wanted to make sure; th... 07/12/2015

SPECIAL DEPOSIT PROGRAMFind the key to fine Living at Key West in Etobicoke5% ONLY FOR UNITS UNDER450000 WITH MORTGAGE APPROVAL5% ON OCCUPANCYIN ADDITION2% OFF purchase priceThousands in Upgrades1 Parking and 1 Locker Models Fully Furnished - Occupancy Starting from January 2016 Type Model Suite Size(sq. ft.) View StartingFloor *Selling Price Summer Deal 1 Br 1B 545 N 5 $277,500 $271,900 1 Br 1D 610 N 6 $303,500 $297,500 1 Br+M 1E+M 605 N 9 $318,000 $311,500 1 Br 1A 520 W 31 $318,500 $312,000 1 Br+M 1C+M 595 S 28 $358,000 $350,500 1 Br+M 1G+M 640 NE 34 $377,000 $369,500 1 Br+D 1F+D 630 S 37 $390,500 $382,500 2 Br 2A 865 NW 4 $415,500 $407,000 2 Br 2B 965 SW 4 $476,500 $467,000 2 Br 2C 990 SE 3 $493,500 $483,500  For more details and bookings, please contact.Sham Pathania,SalespersonHome... 07/05/2015

Tomorrow, July 1st is Canada Day! Here are a few pertinent questions and answers:Who was Canada’s first Prime Minister?Sir John A. MacDonald.In what year was the the current flag adopted?1965. What was the official flag before the Red Maple Leaf was adopted?The Red Ensign with the Union Jack in one corner.What is the year of Confederation?1867.Which were the original four provinces?Nova Scotia, New Brunswick, Ontario and Quebec.   06/30/2015

East 55 Condos –a new condo developmentSales  started for ‘East 55 Condos’ in 2015.  This is a new condo development (east of Yonge Street) currently in the preconstruction stage at 53 Ontario Street in Toronto. This project is scheduled to be completed in 2018. This development is going to be 25 storeys with a total of 276 units. The units range in size from 426 sq ft to 2243 sq ft and the sales price starts at $279,900.   Some of the features include: White painted interior walls 4″ baseboard and 2 1/2″ door casing Slab style bathroom, closet and washer/dryer room doors with brushed chrome hardware Frosted glass sliding bedroom doors Stacked washer and dryer Individually controlled heating and air conditioning system utilizing a heat pump system. 06/28/2015

Supply of low-rise homes, in Toronto  ….. limited Toronto is the largest city in the GTA (Greater Toronto Area) and one of the largest regions of activity in the country.  Due to the lack of supply of land it makes sense to build condo towers rather than single-storey houses. This has resulted in higher prices for homes (due to the shortage of low-rise houses). Also, higher land costs and restrictive government regulations have stretched out development project time lines to as much as seven years.   The supply of new ground-related housing in the GTA has fallen by half since the early 2000s, from about 30,000 units in 2001-2003 to about 15,000 units in 2013-2014.    06/14/2015

Real Estate for Seniors A new service launched this week for investors interested in real estate for seniors.  The ageing population is creating new opportunities in the housing market.  This is a growing sector, with an increasing population of retirees and so property aimed at that demographic is proving attractive to investors. Baby boomers are living longer, working longer and are not making the same choices that seniors before them have made. The Ontario Retirement Communities Association launched its new data service on Tuesday. It is going to be an online service, called CORE. This service will give investors access to data on the market in Ontario including financial and property information. This service may expand to other parts of Canada.  06/12/2015

Toronto Foodies  -Top Picks for This Weekend: June 5 to June 7  This weekend, Toronto foodies have many choices – there are several festivals to help you get your pick of food to eat. These include: Mac and Cheese Festival, presented by Metro, providing a gourmet twist to everyone’s favourite childhood dish, while giving back to the community through FoodShare Toronto. Riverside Eats and Beats, along Queen Street East between the Don Valley Parkway and Queen Street Bridge. Raw and Vegan Fest at 918 Bathurst Street, just North of Bloor St. Dundas West Fest, closes down Dundas from Ossington all the way west to Landsdowne. Many community groups, shops and restaurants make the Dundas West Fest successful due to the inclusion of all the local groups and businesses for food and entertainment.   06/04/2015

A New Sales Record for the Month of May  Toronto Real Estate Board President Paul Etherington announced 11,706 sales reported by Greater Toronto REALTORS® in May 2015. This result was up by 6.3 % in comparison to 11,013 sales reported in May 2014. For the TREB market area as a whole, sales were up for all major housing types. However, in the City of Toronto, where the supply of low-rise listings has been constrained, sales were down for detached homes.Record May transactions, coupled with a dip in the number of homes available for sale, resulted in strong price growth. The MLS® Home Price Index (HPI) Composite Benchmark was up by 8.9 % year over year in May. The MLS® HPI uses benchmark homes to estimate price growth.The average selling price for all home types combined in May 2015 was u... 06/02/2015

SOLD86 Winnett Ave, TorontoOur thrird pre-emptive offer won this home   Fantastic 2 storey, semi-detached in Humewood School district.                                          *We provided a very happy buyers for their first home.                                    The property is move-in ready. Ren'd kitchen with white quartz counter tops,                                               Stainless steel appliances and walk-out to a large deck.                                     Large upstairs bathroom with 2 person soaker tub, rain shower glassed                                       shower stall, custom vanity sink and vanity. Stacked Washer/ dryer                                            Fenced in lush perennial back yard. Private parking.     CONTACT US        05/30/2015

Toronto says goodbye to Captain John's This morning Thursday May 28th a giant piece of Toronto history was hauled away from the Yonge St. slip where it has been a fixture for 40 years.  Hundreds came by foot and boat to Queens Quay for the send-off, of the ship, the Jadran. Some came to salute the end of an era, others to say good riddance, and others simply to be there to witness the event. For a brief time, there was concern that mounting winds might delay the move again. But just after 10:30 a.m., as planned, super tug Jarrett began to pull on a harness attached to the stern and a cheer went up, as the ship smoothly edged out. Police boats, kept onlookers on kayaks, sailboats, water taxis and pleasure craft away. Two tugs worked in tandem to pull the ship; which has been moored for d... 05/28/2015

                     Holding Back Offers or                                   Pre-emptive Bully Offers Holding back offers until a specific date has become the norm-usually a week after the listing appears on MLS. This hold back date is posted on the listing in the brokerage remarks. Holding back offers have merits for both buyers and sellers: More buyers can view the property The listing agent can hold weekend open houses Buyers can get in their own home inspector Buyers can get pre-approved as opposed to pre-qualified. There might be a greater chance to get multiple offers=a higher price than asking. The downside: Another property comes out that is far more appealing Buyers don't want to bid in a multiple offer situation. Buyers have more time to think about the downfalls of the house... 05/24/2015

Greater Toronto Area – Home Sales a new high …….. Home sales in the first two weeks of May 2015 were 9.6 per cent higher than in May 2014. The Toronto Real Estate Board reported 5,655 sales in the first 14 days of May 2015, compared to 5,160 sales during the same period in May 2014.  The strongest price growth was in the detached homes market, with the average price up by 13.8 per cent. Detached homes sales growth in the City of Toronto has been strongest for high-end homes, thus pushing the average price higher. 05/21/2015

Toronto Real Estate Board announced a 9.6 % year-over-year increase in home sales reported by Greater Toronto Area REALTORS® during the first 14 days of May. There were 5,655 sales reported in the first two weeks of May 2015 compared to 5,160 sales during the same period in May 2014.The average selling price for this time period was up was  by 10.7 % @ $652,782for all home types combined over  the first half of May 2014 The strongest price growth was in detached homes, with the average price up by 13.8 %. “The low-rise market segments, including detached home sales, have been the driver of average price growth in the GTA this year. While tighter market conditions have been a key factor, average price growth has remained very strong including a shift to higher priced homes.Detached sales... 05/19/2015

Victoria Day 2015 in Canada …...is on Monday, May 18th This weekend is a long-weekend in Canada!  Victoria Day celebrates Queen Victoria's birthday (May 24th).  Victoria Day is always on a Monday; and  is commonly referred to as the Victoria Day Weekend, the May Long Weekend, or the May Two-Four (a case of beer in some parts of Canada is called a "two-four" and many of these are consumed over the holiday). For family fun, there are the Ontario Science Centre’s interactive exhibits and science demonstrations. Then, there is the ‘old favourite’ the Toronto Zoo with over 5,000 animals; and a ‘new favourite’ the wonders of marine life at Ripley’s Aquarium. There is a Toronto CityPass for 45% off on admission to five major Toronto attractions – the CN Tower, Royal Ontario Museum, Casa Loma, ... 05/15/2015

TORONTO, May 5, 2015 – The Average Selling Price in Toronto is now $635,932.00 up 10% of April 2014The overall average selling price, which accounts for all homes reported sold by GTA REALTORS® in April 2015, was up by 10 % year-over-year to $635,932. The MLS® Home Price Index (HPI) Composite Benchmark, which estimates the price of a benchmark home with the same attributes from one period to the next, was up by 8.4 % over the same period. The fact that average price growth outpaced growth for the MLS® HPI Composite Benchmark, suggests that a greater share of higher-end homes changed hands this year compared to last. 11,303 sales were reported in April 2015. This was the highest sales result on record for the month of April and represented a 17 % increase over April 2014. New listings we... 05/04/2015

FREE Toronto Power Of Sale Real Estate Seminar!!! You Will Gain Insider Secrets To Purchasing Power Of Sale Properties $$$$ Thousands Of Dollars Below Market Value!!! Seminar Available Date: Saturday May 23, 2015 @ 11amLocation: Markham, ONAdmission: FREE           Register Today @ :www.bankforeclosurehouseprices.com Our FREE Power Of Sale Real Estate Seminar Will Teach You How To:* Purchase a house or condo with *zero down payment. * Move from renting, to first time homeowner to Real Estate Investor in as little as 3-5 years.* Learn how to save up to *$10,000 on your next move.* The top 5 mistakes that could hurt any power of sale or distress sale home buyer.* How to take advantage of special incentives available to first time home buyers.  * About first time-home buyer government prog... 05/03/2015

Questions about Short-Term Rentals ....... The 2015 Pan Am Games in Toronto are just 2 months away. Associated with it are questions about short-term rentals. Should landlords allow their tenants to rent out their properties to short-term visitors? The event begins on 10th July 2015 and is expected to draw 250,000 visitors, along with 10,000 athletes.   Rental opportunities could be lucrative; some argue that this kind ‘payday’ should be considered. While others, prefer to avoid these types of short-term agreements.   Short-term rentals can be dangerous in Ontario because Ontario landlords cannot charge a 'damage deposit' and if there are damages or the tenants leave a mess, the landlord won't have a damage deposit to pay for repairs or clean up.Some landlords are worried that their ten... 05/03/2015

  Condo Expenses  -Separate Bank Accounts Condo Corporations have two different types of expenses: 1.    There are the OPERATING EXPENSES such as snow removal, general maintenance and other recurring expenses for the up-keep of the property.and2.    There are the MAJOR PLANNED EXPENSES. These expenses are pre-planned, and paid for, from the Reserve Fund. Such expanses include the replacement of assets of the corporation and the updating and renovation of the common elements.  Therefore, the best accounting practice would be to have two separate bank accounts to make it easier to monitor and keep a track of all the expenses.   04/26/2015