Wednesday, April 27, 2016

Toronto West Condo For Rent!

Have any friends looking for a great condo apartment to rent in the West end! Check this one out. Great building in a great location!


Monday, April 25, 2016

Excellent Toronto East Commercial Retail User or Investment Opportunity

Just Listed this Excellent Commercial Retail Investment Opportunity on Busy Kingston Rd. Former TD Bank Building. Solid Building with Large Lot and lots of parking in the rear. Great For Retail Business User or Investor. Across the street from a High School and in a busy Retail area. Call or msg me for more info. Wont last long!




Condos surge in the GTA

Condo sales in the Greater Toronto Area surged 21.2 per cent in the first quarter of 2016 compared to a year earlier. The Toronto Real Estate Board says that there were 5,974 sales through the MLS during the first three months of this year with around 70 per cent taking place in the city of Toronto.

The pace of demand was reflective of the important entry point to the market that condo apartments offer: “Recent polling undertaken for TREB by Ipsos suggested that approximately half of home purchases made in the GTA this year would be accounted for by first-time buyers.”

With the annual increase in listings down 1.7 per cent, there was an average selling price increase of 8.1 per cent to $393,589.

“While the condominium apartment market segment remains the best supplied in the GTA, market conditions have tightened considerably since the first quarter of 2015. Not surprisingly, the pace of year-over-year price growth has accelerated over the same period of time,” said Jason Mercer, TREB’s Director of Market Analysis. 

Friday, April 22, 2016

New detached homes in GTA break $1 million milestone

The average price of a newly-built single-family detached home in the Greater Toronto Area has exceeded $1 million for the first time. Figures from the Building Industry and Land Development Association reveal that the milestone was reached as of the end of March with prices up from $861,848 a year earlier.

The 21 per cent year-over-year surge has been driven by strong demand in the GTA which has not been met by supply. This, BILD CEO Bryan Tuckey says, is due to government intensification policies and a lack of suitable land.

"The demand for detached homes is far outpacing supply as the GTA's population continues to grow," said Tuckey. "Our region has record-low levels of new detached homes available for sale, which drives up prices and reduces housing choice for consumers."

In March, 905 new detached homes sold and inventory was at just 1,634. The building industry is meeting provincial requirements for townhouses and condos but Tuckey says there is strong demand for detached homes.

"New low-rise homes are being purchased faster than they can be brought to market," Tuckey said. "As long as demand for low-rise homes continues to outpace supply, we will continue to see rapid price growth."

Prices for all low-rise homes, including townhouses, semi-detached and detached, also set a new record in March - $849,312. High-rise homes averaged $459,231. 

Thursday, April 21, 2016

Improving affordability in 60 per cent of housing markets

Housing affordability improved in the first quarter of 2016 in 6 out of 10 markets analyzed for a report from National Bank. Calgary, Montreal and Ottawa-Gatineau saw the greatest improvements but the national figure, showing the proportion of income needed for mortgage payments on a median-priced home, edged 0.1 per cent higher. Nationally homeowners would need to spend 31 per cent of their income on mortgage payments.

The rise was driven by the increasing prices in Vancouver and Toronto while Calgary saw affordability increase as prices fell. Homeowners in the city would require 28.2 per cent of their income for a mortgage on a median-priced home; a year earlier the figure was above 30 per cent. Montreal also saw increased affordability as prices were broadly flat while mortgage costs declined. 

Monday, April 18, 2016

BC sales boom to new record for March

Sales of homes in British Columbia were up 38 per cent in March compared to a year earlier to hit a record 12,500 units sold through the MLS and it’s not just Vancouver that’s booming.

"Housing demand has never been stronger in the province," said Cameron Muir, BCREA Chief Economist. "Most large population centres of the province are now experiencing record levels of housing demand."

However, listings are well behind demand with many parts of the province reporting their lowest inventory in a decade.

Year-to-date figures show a 70.1 per cent rise in sales in dollar terms to $21.59 billion with the average MLS price up 22.2 per cent to $770,408. Sales are up 39.2 per cent to 28,028 units. 

Friday, April 8, 2016

Condo investment sector remains stable – CMHC

The latest study by the Canada Mortgage and Housing Corp. uncovered that the condo investment sector remained stable in the first quarter of 2016, amid record-breaking transaction volumes in the country’s most active markets during the same period.

According to the CMHC, a main driver of the phenomenon is the growing number of condo investors that purchase multiple properties to eventually profit from the leading markets’ high-end prices and rental income. The proportion of investors in Toronto and Vancouver who have purchased at least two additional units apart from their own condos shot up by almost 13 per cent from 2014.

As reported by The Globe and Mail, the CMHC survey—which looked into more than 42,000 owners in Toronto and Vancouver—found that fully 25 per cent of condo investors own at least two units, and nearly 10 per cent said that they have ownership of three or more units.

Meanwhile, around 50 per cent of condo investors in the two cities said that their investment units were for rental income purposes. Over half of condo investors carry mortgages on their investment units, the survey added.

These developments came in the wake of the massively increased number of housing starts in both metropolitan areas, which the CMHC report attributed to an intensified demand for condos and apartments. Vancouver starts grew on a year-over-year basis from 13,400 to 37,000; Toronto starts doubled to 43,000 during the same period.

Building permits up 15.5 per cent in February

Statistics Canada says that municipalities issued building permits worth $7.4 billion in February, a rise of 15.5 per cent from January.

Residential permits were up 5 per cent to $4.2 billion with single-family dwellings up 9.6 per cent to $2.4 billion. Non-residential permits were up by a third to $3.2 billion.

Alberta led the gains with commercial sector permits. For residential it was Ontario that saw the largest gains, for single-family homes. 


source: Mortgagebrokersnews.ca

Friday, April 1, 2016

Scarborough Town Centre Condo Just Listed!

Hot new listing! 1+1 bedroom Scarborough Town centre condo! Great location just steps from town centre, subway,401 and all amenities. Great for first time buyer. Excellent facilities in building. Offered at $258,000. Call or msg me for info.




Thursday, March 24, 2016

Hot New Commercial Retail Listing on busy Sheppard Ave W. near Allen Rd. Great location! Main floor retail in a condo building. High density location. 1748 Square Feet which can be divided into two units. Good Space For Professional Office,Medical Office,Pharmacy,Retail Store,Hair Salon & More. Clean Unit With Good Visibility. Flexible Lease Terms With Good Rental Rate And Option To Renew. Call or msg me for more info. 

Tuesday, March 22, 2016

Hot New Condo Listing Located in Prime East York Area near Broadview and Danforth. Over 1000 Sq ft with 1+1 bdrms. Call or msg me for info.



ListRealEstate Hot New Weekly Market Pick!
Great Wexford Bungalow under 600k. Priced to move quickly! 2 bedrooms, 2 baths, finished basement with separate entrance. Call or msg me for more info


Saturday, March 19, 2016

March 2016 Toronto Real Estate News

The real estate market in Toronto continues to perform well and surprises all the analysts again. In February 2016 there were 7,621 transactions reported. This result represents a 21.1 per cent increase in sales compared to February 2015. The number of new listings entered into TREB’s MLS® System was also up on a year over-year basis, but by a lesser 8.2 per cent. The fact that the annual rate of sales growth outstripped the annual rate of new listings growth shows a tightening of market conditions compared to last year. Even after accounting for the leap year day, sales were above the previous record for February set back in 2010. Sales were up strongly from the 15th day of the month onward as well, despite the new federal mortgage lending guidelines coming into effect that require at least a 10 per cent down payment on the portion of purchase prices between $500,000 and $1,000,000. Seller’s market conditions continued throughout the GTA in February. Strong competition between buyers resulted in a healthy growth in selling prices. The average selling price was up by 14.9 per cent annually to $685,278. Recent polling conducted for TREB by Ipsos suggested that GTA households will remain upbeat about purchasing a home in 2016. Early sales results for January and February certainly support this view. With strong sales up against a constrained supply of listings, home prices continued to trend strongly upward. In 2016 I expect for the average price in Toronto to increase between 7% to 10% depending on the location. The market now is a strong sellers market as the supply of inventory is still limited. In the coming weeks and months we expect more listings to come on the market and more selection of homes for buyers. With it being a very competitive you absolutely need to ensure you have a strong experienced Realtor representing you. A Realtor who knows the pulse of the market and knows how to play the real estate game. Otherwise as a buyer you will have a very difficult time buying. For sellers, if you are planning a move this year now is a great time to look at preparing your home and getting it on the market. 

As always if you are planning a move and would like to discuss your goals feel welcome to call me at 416-856-5408 or email me at aprasoulis@gmail.com. Have a great March! 

Click below to see the Toronto Real Estate Board Market Watch Video

- See more at: http://www.ilisttorontohomes.com/March-2016-Real-Estate-Report#sthash.wcrbWg9s.dpuf

Friday, November 1, 2013

What to Look For When Hiring A Realtor

Many consumers do not know what to look for when they begin their search for a Realtor. Here are some of the key things to look for:

Large or Small Company? - Some consumers will automatically assume calling a Realtor from a large company is the best option. This is not necessarily the case.  Although it's important to have a Realtor who is with a reputable company representing you, the size of the company does not always play a role. Most Realtors are using the Toronto Real Estate Board's MLS system to market their listings.  All Realtors that are part of the Toronto Real Estate Board co-operate with each other on sales, so all Realtors have access to all the listings and all the property information whether they are with a large company or small company. Sometimes the smaller companies with less volume actually have more time to service clients and offer more personalized service as opposed to larger companies which have many clients to service and could get bogged down.

Time and Expertise - One of the most important factors when choosing a Realtor is to choose a Realtor that has the time to service your needs as well as the experience to make the process go smoothly. A full time Realtor is usually the best choice.  A full time Realtor is more active in the marketplace and is on top of the pulse of the market. A full time Realtor will also be available for you all the time and can provide valuable resources such as lawyers, home inspectors, and contractors which can assist you with your move. There are many part-time agents in the industry that sell real estate as a hobby so be very cautious in order to ensure your Realtor has the time and expertise to represent you effectively.

Personal Connection - You should interview your potential Realtor carefully and get to know the Realtor you are looking to choose. Make sure you can trust your Realtor and you feel comfortable talking to them. It is important to be open with your Realtor and be able to tell them exactly what your thoughts and needs are.  Buying or selling a home can be an emotional experience so you want to ensure you have the right connection with your Realtor.

Location, Location - If you are looking to purchase or sell a home in a particular neighborhood, a great option is to find a Realtor who is local and specializes in that area.  Although with technology these days Realtors are becoming well versed in handling a wider demographical area, it still helps to find someone who has a consistent presence in a particular neighbourhood and knows the area you are interested in.  They will generally have the right market insight and knowledge that you need.

The right tech tools - The Internet is a huge marketing tool these days, and if your agent does not have an up-to-date website, a smart phone, or a social media presence, chances are they could be missing out on potential networking opportunities, business, and vital information. Ask how your Realtor stays on top of the market and clients' needs.

After Closing/Follow Up - After you have bought or sold your home with your new Realtor and the deal has closed, issues and items that need to be addressed after the closing can occur.  A good Realtor will have a follow up program in place to ensure that you are happy with the service and there are no issues after the move has taken place.  A good Realtor will also keep in touch with you and continue a relationship with you after the deal on your new property has closed.  





 

Bank of Canada Releases Monetary Policy Report on October 23, 2013


  • The global economy is expected to expand modestly in 2013. However, its near-term dynamic has changed and the composition of growth is now slightly less favourable for Canada.
  • The U.S. economy is softer than expected. But as fiscal headwinds dissipate and household deleveraging ends, growth should accelerate through 2014 and 2015.
  • Overall, the global economy is projected to grow by 2.8 per cent in 2013 and accelerate to 3.4 per cent in 2014 and 3.6 per cent in 2015.
  • In Canada, uncertain global and domestic economic conditions are delaying the pick-up in exports and business investment. This leaves the level of economic activity lower than the Bank had been expecting.
  • While household spending remains solid, slower growth of household credit and higher mortgage interest rates point to a gradual unwinding of household imbalances.
  • The Bank expects that a better balance between domestic and foreign demand will be achieved over time and that growth will become more self-sustaining. But this will take longer than previously projected.
  • Real GDP growth is projected to increase from 1.6 per cent this year to 2.3 per cent next year and 2.6 per cent in 2015. The Bank expects that the economy will return gradually to full production capacity, around the end of 2015.
  • Inflation in Canada has remained low in recent months, reflecting the significant slack in the economy, heightened competition in the retail sector, and other sector-specific factors.
  • With larger and more persistent excess supply in the economy, both total CPI and core inflation are expected to return more gradually to 2 per cent, around the end of 2015.
  • The outlook for inflation is subject to several risks emanating from both the external important that we are not just aware of these risks, but that we also take them on board as we consider the appropriate course for monetary policy.
  • We have identified two important external risks. An upside risk to inflation in Canada that emanates from the external environment is the risk of more-robust economic growth than projected in the advanced economies. Greater global demand would in turn translate into higher exports for Canada and rising commodity prices, which would support higher incomes and spending.
  • A second important external risk is a more protracted and difficult euro-area recovery. Since Canada’s direct trade links to the euro area are limited, the effects would be felt mainly through confidence and financial channels, as well as through indirect trade links.
  • We have also identified three important domestic risks.
  • First, there is a possibility that, for a given projection for global growth, exports could be even weaker than assumed. This is a risk that could materialize if competitiveness challenges were greater than anticipated and would result in an even larger loss of market share.
  • Second, there is a risk on the upside that, as confidence returns, domestic momentum builds faster than expected. Once the recovery in foreign demand becomes more solidly entrenched, and with domestic demand continuing to grow at a moderate pace, business sentiment could improve rapidly.
  • The third important domestic risk remains a disorderly unwinding of household sector imbalances, which are still elevated. The continued slowing in household credit and the rise in mortgage interest rates point to a gradual unwinding of household imbalances, but recent data suggest some risk of renewed momentum in the housing market.
  • Although the Bank considers the risks around its projected inflation path to be balanced, the fact that inflation has been persistently below target means that downside risks to inflation assume increasing importance. However, the Bank must also take into consideration the risk of exacerbating already-elevated household imbalances.
  • Weighing these considerations, the Bank judges that the substantial monetary policy stimulus currently in place remains appropriate and today decided to maintain the target for the overnight rate at 1 per cent.

 

 

Monday, October 28, 2013

GTA REALTORS® Release Condo Report


October 16, 2013 -- Greater Toronto Area REALTORS® reported 5,307 condominium apartment transactions through the TorontoMLS system in the third quarter of 2013. This result was up by 18 per cent in comparison to 4,498 condominium apartment sales reported for the third quarter of 2012. In the City of Toronto, which accounted for 72 per cent of condominium apartment transactions, sales were up by 19.5 per cent.

“The Echo Generation wants to live close to where they work and play. It makes sense that they have turned to condominium apartments as they have moved into home ownership. Many condominium apartments in the GTA are characterized by their proximity to a diversity of employment, transportation and leisure alternatives,” said Toronto Real Estate Board President Dianne Usher.

“A growing number of buyers have restarted their search for a condominium apartment since the summer. Despite the onset of stricter lending guidelines, buyers have found that home ownership remains affordable,” continued Ms. Usher.

The average selling price for condominium apartments in the third quarter of 2013 was $340,069 – up almost two per cent in comparison to the average of $333,846 in the third quarter of 2012.

“We experienced a moderate annual rate of increase in the average condo price. However, while condo sales were up, listings were down in the third quarter. If this trend continues, it could point to increased competition between condo buyers and an uptick in the pace of price growth moving forward,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

5 Things to consider when buying a resale home

The decision to buy a resale home is one of the most important ones your family will ever make. In order to be properly protected, here are 5 things to consider:
 
1. What information is the seller providing in advance?
Sellers used to provide property disclosure statements, telling buyers in advance about the condition of their homes and disclosing problems. Lawyers told them not to do this anymore, because of the potential for lawsuits. Some sellers are now conducting home inspections by a professional home inspection company before they list the property for sale and are giving a copy of the report to any buyer. This has proven to be a benefit to a seller, since they can correct any deficiencies noted by the inspector so they do not have to negotiate with the buyer later after the buyer conducts their own home inspection. Some sellers are also providing home history reports, which can be obtained from homeverified.com or Iverify.com which indicate whether the home has been the subject of an insurance claim for water, fire, flood or sewage backup, and whether the home was ever listed as a grow house or meth lab. The more information a buyer has in advance, the more informed their purchase decision. Still, even with this information, buyers should complete their own home inspection before committing to any purchase.
 
2. Ask the seller hard questions
Ask the sellers or their agent if they have had basement flooding problems, or mould or roof leaks, even if the leaks have been repaired, or any other adverse neighbourhood conditions, whether it is a suicide or murder in the home, or a half way house down the street. Watch how they answer. Sellers are required to respond truthfully to these questions if you ask them directly. If the seller refuses to answer or acts suspiciously, then you need to discuss this with your home inspector and your real estate agent and either adjust your purchase offer or walk away.
 
3. Check with the neighbours
During your home inspection, or before you put an offer in the first place, walk around the neighbourhood and ask the neighbours about the house you are interested and the neighbourhood itself.
 
4. Include the right additional clauses
Make sure that everything you expect to receive on closing is included in your offer. This includes mirrors, closet organizers, window coverings and TV brackets. Ask for 2 complete sets of keys, to get into the home and garage, especially if it is a condominium unit.
 
5. Make sure you can afford it
Get qualified in advance by a professional mortgage broker or your bank so that you know how much you can safely borrow. Make sure your lender will complete their appraisal of the property before you waive any financing condition. Be careful about getting caught up in a bidding war, because if your lender thinks you paid too much, they will not lend you what you may be expecting.
By following these tips, you should be better protected the next time you buy a home.

Saturday, October 5, 2013

How to Avoid a Difficult Tenant

Here are some helpful tips to remember when looking for a tenant.

  • When you advertise for a tenant, make it clear that you do background and credit checks;
  • Ask any tenant to complete a detailed rental application, showing every place they have lived at least in the past 5 years;
  • Ask for a current cheque stub from their place of employment, as proof that they are regularly employed;
  • Ask for at least 3 personal references and call each one, including any prior landlord;
  • Interview the tenant where they currently live, to see for yourself how they treat someone else's property;
  • Check out the tenant on social media - whether it is pictures that they post or blogs that they may have written. For example, if you search Andreas Pirelli, the Alberta tenant referred to above on linked in, you will see that he claims to be the senior chief justice at Tacit Supreme law court;
  • Have the property regularly inspected, to make sure that the tenant is properly maintaining the property and not causing any damages;
  • Treat your tenants with ongoing respect, and they will look after your property better; consider a gift card if rent is always paid on time, or a Christmas present.

October 2013 Toronto Real Estate Sales Report

TORONTO, October 3, 2013 – Greater Toronto Area REALTORS® reported 7,411 residential sales through the TorontoMLS system in September 2013, representing a 30 per cent increase compared to 5,687 transactions reported in September 2012. Year-to-date, total residential sales reported through TorontoMLS amounted to 68,907 during the first nine months of 2013 – down by one per cent compared to the same period in 2012.
"It’s great news that households have found that the costs of home ownership, including mortgage payments, remain affordable. This is why the third quarter was characterized by renewed growth in home sales in the GTA. We expect to see sales up for the remainder of 2013, as the pent-up demand that resulted from stricter mortgage lending guidelines continues to be satisfied," said Toronto Real Estate Board President Dianne Usher.
The average selling price for September transactions was $533,797 – up by 6.5 per cent year-over-year. Through the first three quarters of 2013, the average selling price was $520,118 – up by over four per cent compared to the first nine months of 2012.
The MLS® Home Price Index composite benchmark for September was up by four per cent year-over-year. The annual rate of growth for the composite benchmark has been accelerating since the spring of 2013.
"The price growth story in September continued to be about strong demand for low-rise home types, coupled with a short supply of listings. Even with slower price growth and month-to-month volatility in the condo apartment market, overall annual price growth has been well above the rate of inflation this year. This scenario will continue to play out through the remainder of 2013," said Jason Mercer, TREB’s Senior Manager of Market Analysis.
For the full report visit:
http://www.ilisttorontohomes.com/account/78ab9f8164dfd923/pdfs/october_2013_Market_Watch.pdf

As always if you are interested in more information on the Real Estate Market feel welcome to call me at 416-901-8777 or email me at aprasoulis@trebnet.com.


Friday, September 6, 2013

September 2013 Commercial Market Report

Year-over-year growth in average lease rates, for transactions undertaken on a per square foot net basis for which pricing was disclosed, was mixed. The average industrial lease rate was $5.16 in August 2013 – down from $5.88 in August 2012. Average lease rates for the commercial/retail and office market segments were up on a year-over-year basis.

"Over the last two months we have seen strong year-over-year growth in the amount of space leased through the TorontoMLS system. This growth has been driven by the industrial sector and suggests a strong result for the third quarter. The improvement in leasing activity seems to follow the view that overall economic growth in Canada is expected to improve in the second half of 2013 and even more so in 2014," said Commercial Division chair Cynthia Lai.

Combined sales of industrial, commercial/retail and office properties amounted to 48 in August 2013 – down from 65 transactions reported during the same period in 2012. Broken down by market segment, the number of commercial/retail transactions was the same as reported in 2012, whereas the number of industrial and office transactions was down.

Average selling prices, on a per square foot basis for transactions where pricing was disclosed, were up for industrial and commercial/retail transactions and down for office transactions. Year-over-year changes in average selling prices were strongly influenced by changes in the mix of properties sold this year versus last.

"The mix of industrial, commercial/retail and office transactions can change from one year to the next, on the basis of type, use and geography. These changes can result in fluctuations in the average selling price, especially when considering transactions on a monthly basis," said Ms. Lai.

For the full report visit:

http://communications3.torontomls.net/newstand/news/2013/mn1309/pdf/nr_comm_watch_0813.pdf

 

 

 



September 2013 Toronto Market Report

Greater Toronto Area REALTORS® reported 7,569 residential transactions through the TorontoMLS system in August 2013. This represented a 21 per cent increase compared to 6,249 sales in August 2012.

"Sales were up strongly this past August for all major home types compared to last year. Many households have accounted for the added costs brought on by stricter mortgage lending guidelines and have reactivated their search for a home. These households have found that a diversity of affordable ownership options exist throughout the GTA," said Toronto Real Estate Board President Dianne Usher.

The average selling price for August 2013 was $503,094 – up by almost 5.5 per cent compared to the average of $477,170 in August 2012. The MLS® Home Price Index (HPI) composite benchmark was up by 3.7 per cent over the same period.

"Despite an increase in borrowing costs during the spring and summer, an average priced home in the GTA has remained affordable for a household earning an average income. With this in mind, tight market conditions are expected to promote continued price growth through the remainder of 2013," said Jason Mercer, TREB’s Senior Manager of Market Analysis.

To see the full report visit:

http://communications3.torontomls.net/statistics/mwatch/2013/08/mw1308.pdf

Saturday, June 22, 2013

5 Tips for HomeBuyers

The economy is suffering. The cost of rent, especially for those who want to live downtown, is skyrocketing. What’s a single person to do? These days, a lot of savvy singles are opting to buy themselves a home. According to a recent study by Genworth Financial, a full quarter of homebuyers n 2011/2012 were single.

If you are single and are hoping to jump into the housing market, here are a few tips to help guide you through the process.

1. Stay. In. Your. Budget. Think about how much you can afford, and then lay down the law for yourself that you will stick to that limit. Remember that as an independent single, should you experience a disruption in your job, income, health, or anything else that might make it hard to make your mortgage payments, you will not have a partner to fall back on financially. So while your heart might be tugged irresistibly towards a home that is everything you dreamed of, make sure you don’t overextend yourself (or your wallet).
2. What will your chores list be? When you’re looking for a home, make sure to think through whether you can maintain the property yourself. Will you have time to cut that enormous lawn? Is a condo or townhouse a better fit for your busy life? If you decide to hire people to take care of jobs around the house, make sure you hire smart: do research to find trustworthy and skilled help, get multiple quotes for every job, get everything in writing, and make sure the job is done right.
3. Location, location, location! Make sure you feel safe in your new home! First, screen your potentials homes’ locations. Check your local crime rates and speak with realtors, neighbours, and town officials about the safety of your desired area. Once you’ve chosen a home, make sure you can return to it and enter it feeling safe and secure. After all, if you work away from home, your house will be empty for long periods of time. Install a good security system that will leave you sleeping peacefully at night.
4. Investment wisely. Should you ever decide to relocate, you want to have a home that will sell quickly and well on the market. Keep that in mind as you choose your home. Look for homes that have widespread appeal. This is something home sellers are taught when they are preparing their homes for potential buyers to visit: make sure your home is neutral enough that it could please a large audience and be changed to suit almost anyone’s tastes.
5. The future is now! If you’d like to keep your home for a long time, take some time to think about the future. Do you hope to have a family one day? Would it be a good idea to buy that home with the extra bedroom? Give yourself room to grow.

Don’t get discouraged or doubt yourself! Chances are, if you’re responsible (and brave) enough to be planning to buy your own home, by yourself, you are responsible enough to make wise and informed choices about this major investment. Don’t forget that you also have an arsenal of experts at your disposal, trained and ready for your questions and concerns: make use of the knowledge and guidance of realtors, mortgage brokers, financial planners, and other single homebuyers who have gone through the process before you. They are often willing to give out free advice and to share their vast wealth of knowledge with others. Finally, all the best with your house hunting! We know you’ll love your new home.

Dynamic puts in bid to revive Guild Inn

Scarborough Mirror
A Toronto company has put its offer for reviving the Guild Inn on the table.
Now, it’s for the city to decide if it wants Dynamic Hospitality and Entertainment Group as a partner or not.
The city, after closing the former Inn in 2001, tried and failed twice before to attract a private partner capable of restoring or replacing the historic building, once the centre of an artist colony and centrepiece of the 88-acre Guild Park.
This time, Dynamic was the only company that pre-qualified to submit a proposal to design, build, finance and operate a restaurant and perhaps also a banquet facility where the Inn now stands.
The deadline, extended a few additional weeks last month, was noon Monday, May 31.
Members of the city’s Government Management Committee had planned to discuss Dynamic’s bid at their June 17 meeting, in hopes of signing an agreement by Aug. 27.
The park property, which gave the Guildwood subdivision its name, was sold to the Toronto and Region Conservation Authority in 1978, and the city assumed responsibility for managing the land and buildings in 1993.
Dynamic operates restaurants, nightclubs and comedy clubs and an event theatre in Vaughan, Oakville and Toronto.

Tuesday, June 18, 2013

June 18th, 2013 Toronto Market Report

GTA REALTORS® RELEASE MID-MONTH RESALE HOUSING FIGURES
TORONTO, June 18, 2013 – Greater Toronto Area REALTORS® reported 4,620 sales through the TorontoMLS system during the first two weeks of June 2013. This result was up by 4.7 per cent compared to the first two weeks of June 2012. Year-over-year sales growth was driven by the regions/counties surrounding the City of Toronto. Home sales in the City were basically flat in comparison to last year. “The expectation was for an improvement in home sales in the second half of 2013. Early June results are in line with this outlook. Many households have adapted to stricter lending guidelines and have renewed their search for ownership housing,” said Toronto Real Estate Board President Ann Hannah. “It is also important to note that new listings were down over the same period. With sales up and new listings down, market conditions became tighter. This supports the moderate to strong rates of price growth reported for most major home types, including condominium apartments,” added Ms. Hannah.

The average selling price for the first fourteen days of June was $536,141 – up by 3.8 per cent compared to June 2012. “While price growth has been driven by low-rise home types this year, condominium apartment price growth has improved since March. Despite higher inventory levels, there have been enough buyers relative to available listings to support condo price appreciation,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

My Take on the rest of the Year

In summary I expect that sales in terms of number of units sold will be in line with last years numbers. Prices may flatten over the next few months as inventory levels rise which will make it easier for buyers who have been looking for homes. I expect the Average price will increase modestly by 2%-3% from now until the end of the year. Recently rates on the 5 year and 4 year products went up by 10-20 basis points. If you are a buyer looking to buy make sure you get a pre-approval done in order to lock in a rate. You may want to consider a 3 to 5 year fixed product as rates are low on these products now. 

To view current rates visit http://www.ilisttorontohomes.com/canada-mortgage-rates.html

If you have any questions on the market or are looking to buy, sell or invest in Real Estate feel welcome to contact me at 416-901-8777 or email me at aprasoulis@gmail.com.

Saturday, May 25, 2013

Toronto Real Estate Blog: Just Listed! Very Nice Downtown Condo. Great Value...

Toronto Real Estate Blog: Just Listed! Very Nice Downtown Condo. Great Value...:   View more photos here Good Size 730 Sq Ft Condo Unit In An Excellent Downtown Location! Great Value For The Square Footage! Located...

Just Listed! Very Nice Downtown Condo. Great Value for the sq footage.

 

Good Size 730 Sq Ft Condo Unit In An Excellent Downtown Location! Great Value For The Square Footage! Located Just Steps To Ttc,Ryerson,Metro Grocery,Eaton Centre,Hospitals And Dundas Sq. Features Incl. New Laminate Floors,New Paint Throughout,All New Appliances,Large Master Bedroom With Double Closets,A Nice Size Kitchen Overlooking Dining Area, A Large 4 Pc Bath W/Jacuzzi. Pet Friendly Building. Great Value!
Amenities Incl.24 Hr Concierge,Lovely Rooftop Patio With Hot Tub,Gazebo And Bbq Area,Exercise Room,Party Room,Rec Room,Sauna. All Appliances Incl. New Fridge,Stove,Dishwasher,Washer,Dryer.En-Suite Laundry In Unit.Visitors Parking Area.

Sunday, May 19, 2013

Just Listed! Fully Renovated Chine Drive Home!


Totally Renovated Detached Home On Desirable Chine Drive,South Of Kingston Rd. Great Setting & Area! Beautifully Finished With A Renovated Kitchen W/Quartz Counters & Island,New Stainless Steel Appliances,New Hardwood Flooring Throughout,Two Newly Renovated Bathrooms, An Upper Floor Master Bedroom With A W/I Closet, A Large Basement With Separate Entrance & Easily Converted Into Apartment!New 15Mm Laminate Floors In Basement(They Look Like Hardwood)
Rough In For Kitchen In Basement,Large Laundry Room With New Washer/Dryer,Large Storage Room Off Of Rec Room.All Mechanical Components Updated Incl. Electrical Panel,Plumbing,Furnace & A/C. Hard To Find A Home Like This. Truly A Must See!

For more pictures and info visit: http://www.ilisttorontohomes.com/14a_read.php?ltl=2459960

Monday, May 13, 2013

Just Listed! Wonderful Westney Heights Ajax Home! Great for First time buyer or investor! Check it out.


Desirable Westney Heights Two Storey Detached Home Just Steps To Schools,Ttc And All Amenities! Great Home For First Time Buyer Or Investor! Good Condition With An Updated Kitchen W/Breakfast Bar, Newer Hardwood Floors On Main Floor, A Walk Out To Nice Size Yard, Three Good Size Bedrooms, A Renovated Upper Floor Bath, A Fully Finished Basement With A Bedroom,4 Pc Bath, And A Large Rec Room. Good Bones And Great Value For A Detached Home In Prime Ajax!
Fenced Yard,Single Car Garage And Private Drive, Roof Reshingled In 2006, New Laminate Floor In Basement,Upper Floor Bath Recently Renovated. Appliances Incl. Frige,Stove,Washer,Dryer,Dishwasher,.

Sunday, May 12, 2013

Just Listed!


Nice Large Three Level Chalet Style Townhome In A Great Location Just Steps To Warden Subway,Grocery Stores,Schools(Danforth Gardens,Satec,St.Joachim Catholic), And All Amenities. Great Complex With Well Maintained Grounds And Low Maintenance Fees. Features Of This Townhome Include A Large Living Room With A Walk Out To A Fenced Yard,An Elevated Formal Dining Area,An Eat-In Kitchen,A Main Floor Ensuite Laundry Room, And Three Nice Size Upper Floor Bedrooms.
Also Features Lots Of Closet And Storage Space, A Finished Basement With 2Pc Bath & Rec/Bdrm. Exterior Features Well Kept Grounds, A Private Driveway And An Additional 1 Car Garage. Great Home For The First Time Buyer Or Emtpy Nester!

For more info visit:
http://www.ilisttorontohomes.com/4a_read.php?ltl=2420989

Canadian home sales rise in March

Ottawa, ON, April 15, 2013 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales edged upward on a month-over-month basis in March 2013 but stayed well below levels recorded one year ago.
Highlights:
  • National home sales rose 2.4% from February to March.
  • Actual (not seasonally adjusted) activity came in 15.3% below levels in March 2012.
  • The number of newly listed homes was up 3.2% from February to March.
  • The Canadian housing market remains firmly in balanced territory.
  • The national average sale price rose 2.5% on a year-over-year basis in March.
  • The MLS® HPI rose 2.2% in March, its smallest gain in more than two years.
The number of home sales processed through the MLS® Systems of real estate Boards and Associations and other co-operative listing systems in Canada rose 2.4 per cent on a month-over-month basis in March 2013.
Home sales improved in more than half of all local markets from February to March, led by gains in Greater Vancouver, Fraser Valley, Calgary, Greater Toronto, Montreal, Saskatoon, Hamilton-Burlington, and Kitchener-Waterloo.
“National sales have been holding fairly stable since last summer,” said CREA President Laura Leyser. “We’ll be watching closely as the spring market picks up to see whether the March sales increase marks the beginning of an improving trend. In the meantime, it’s important to remember that local market conditions often can and do differ from what’s reported at the national level, so buyers and sellers really should speak to their REALTOR® to understand how the housing market is shaping up where they live or might like to.”
Sales in March were constrained by the Easter holiday and an extra full weekend at the end of the month, the latter of which is known as a “trading day effect,” and both of which generally result in sales being held back. Seasonal adjustment strips out normal seasonal fluctuations and trading day effects that otherwise affect the data. It puts data on an equal footing so that data for any two months can be meaningfully compared to each other and to underlying economic fundamentals.
“Easter and trading day factors combined effectively to cut March sales short,” said Gregory Klump, CREA’s Chief Economist. “Activity in the months ahead will reveal whether the monthly improvement in seasonally adjusted March sales reflects technical seasonal adjustment factors or a fundamental improvement in demand.”
“That said, the factors that crimped March sales this year were not in play for the same month last year, resulting in speculation that the gap between sales activity this March and March of last year would be bigger than it was in February. That the gap in fact improved marginally speaks to the resilience of housing demand in Canada,” Klump said.
Actual (not seasonally adjusted) activity came in 15.3 per cent below levels reported in March 2012, compared to a year-over-year decline in February sales of 15.9 per cent. Although transactions remained down from year ago levels in more than 90 per cent of all local markets, the gap diminished in a number of large urban markets including Greater Vancouver, Calgary, Regina, Saskatoon, Montreal, and Quebec City. As was the case in February, Edmonton was the only large urban market in which monthly sales surpassed year-ago levels.
“Analysis will likely continue to focus on how sales remain down from last year, but this shouldn’t come as a surprise given that mortgage regulations and lending guidelines at that time were yet to be tightened,” said Klump. “Since those factors came into force, national home sales have held fairly steady, notwithstanding the rise in seasonally adjusted March sales.”
The number of newly listed homes rose 3.2 per cent month-over-month in March. New listings were up in about two thirds of all local markets, led by Greater Toronto, Montreal, London and St. Thomas, and Calgary.
With sales and new listings having climbed in tandem, the national sales-to-new listings ratio was little changed at 49.9 per cent in March compared to 50.3 per cent in February. This measure has held fairly steady around this level for the past eight months. Based on a sales-to-new listings ratio of between 40 to 60 per cent, slightly over 60 per cent of all local markets were in balanced market territory in March.
The number of months of inventory is another important measure of balance between housing supply and demand. It represents the number of months it would take to completely liquidate current inventories at the current rate of sales activity, and it too was little changed in March.
chart of interest01 (E)Nationally, there were 6.5 months of inventory at the end of March 2013. This was down from 6.7 months reported at the end of February, resulting from the increase in sales combined with a third consecutive decline in the overall supply of homes for sale. “The number of months of inventory remains elevated but stable in the wake of recent changes to mortgage rules and lending guidelines,” said Klump.
The actual (not seasonally adjusted) national average price for homes sold in March 2013 was $378,532, representing an increase of 2.5 per cent from the same month last year.
Fewer sales compared to year-ago levels in Greater Vancouver and Greater Toronto continue exerting a gravitational pull on the national average sale price, but price gains in Calgary and Edmonton are increasingly putting upward pressure on the national average.
As evidence of this, excluding Greater Vancouver and Greater Toronto from the national average price calculation yields a year-over-year increase of 4.3 per cent, while only excluding Calgary and Edmonton yields a year-over-year increase of just 1.9 per cent.
The MLS® Home Price Index (MLS® HPI) is not affected by changes in the mix of sales the way that average price is. For that reason, it provides the best gauge of Canadian home price trends.
Chart of Interest 3 (EN)The Aggregate Composite MLS® HPI rose 2.2 per cent on a year-over-year basis in March. This marks the eleventh time in as many months that the year-over-year gain shrank and the slowest rate of increase in more than two years.
Year-over-year price gains decelerated for all Benchmark property types tracked by the index. Price growth remained strongest for one-storey single family homes (+3.4 per cent), followed by two-storey single family homes (+2.5 per cent), townhouse/row units (+2.1 per cent), and apartment units (+0.4 per cent).
Year-over-year price growth in the aggregate MLS® HPI for all Benchmark property types combined also slowed in all markets tracked by the index.
The MLS® HPI again rose fastest in Calgary (+7.7 per cent), followed by Regina (+4.2 per cent), Greater Toronto (+2.9 per cent), Greater Montreal (+2.0 per cent), and the Fraser Valley (+0.1 per cent). In Greater Vancouver, the MLS® HPI slipped further into negative territory, posting a 3.9 per cent year-over-year decline in March.
- 30 -
PLEASE NOTE: The information contained in this news release combines both major market and national MLS® sales information from the previous month.
CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighborhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.
MLS® is a co-operative marketing system used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 106,000 REALTORS® working through more than 90 real estate Boards and Associations.
 

Bank of Canada signals rates to remain on hold even longer

 
The Bank of Canada kept its key policy rate at 1 per cent on April 17th 2013. It has been unchanged at this level for more than two and a half years.
In its April policy rate announcement, the Bank lowered its forecast for Canadian economic growth to 1.5 per cent this year. Its previous forecast published in January predicted growth of 2 per cent in 2013.
The Bank’s new forecast is in line with the recently downgraded outlook issued by the International Monetary Fund and is slightly more pessimistic than the consensus forecast by private sector economic forecasts.
The Bank still expects growth to pick up later this year, but pushed the improvement further out into the second half of 2013. For 2014, the Bank is forecasting growth of 2.8 per cent, up slightly from the previous forecast of 2.7 per cent, with similar growth of 2.7 per cent in 2015.
The Bank also lowered its forecast for inflation, and extended how long it expects it to remain below the inflation target of 2 per cent (i.e. mid-2015). This represents a considerable shifting of the goalposts; only three months earlier, the Bank projected that this would happen sometime in the second half of 2014.
Much of the rest of the Bank’s April policy rate announcement reiterated its views communicated in its previous statement in March. Notably, the Bank is more comfortable about trends for household debt and the housing sector, describing developments in the latter as “constructive”.
The bottom remains that interest rates this year are going nowhere fast. What’s new is that they’re not likely to be going to be going anywhere fast throughout all of 2014 either, particularly given that inflation expectations remain extremely well anchored.
The Bank does not want to be seen as changing its tune too dramatically, or fuelling expectations that it might even be forced to cut rates. For that reason, the Bank indicated that its next move will likely be to raise interest rates, albeit not for some time. That said, that’s now so far into the future that the Bank is really saying is “we’re not going to raise interest rates.”
As of April 17th, 2013, the advertised five-year lending rate stood at 5.14 per cent, down 0.1 percentage points from the previous Bank rate announcement on March 6th. The five-year rate had previously remained at 5.24 per cent since the beginning of June 2012.

Sunday, October 21, 2012

Canada Mortgage Rates - October 2012

Current Canadian Mortgage Rates

(With last date of rate change)

Mortgage
Term
Current *
Rates (%)
Previous
Rates (%)
Change (%)Last Date
of Change
Variable2.802.600.20SEPT 20, 2012
Open5.996.30-0.31SEPT 20, 2012
1 year2.492.390.15SEPT 20, 2012
22.592.39-20SEPT 20, 2012
32.692.64.04SEPT 20, 2012
42.992.990.00SEPT 20, 2012
52.992.84.15SEPT 20, 2012
73.593.69-0.10SEPT 20, 2012
103.893.890.00SEPT 20, 2012
159.259.250.00SEPT 20, 2012
189.259.450.20SEPT 20, 2012
259.359.450.10Jan 16, 2012
HELOC3.003.00-.50SEPT 20, 2012
***All rates are subjected to change without notice*** O.A.C

Are you looking to arrange a new mortgage or renew your existing mortgage? Call us to ensure you get the best rate on the market. With access to over 70 lenders and major banks, we guarantee to find you the best rate. Call us at 416-856-5408 or email us at aprasoulis@trebnet.com.

Thursday, October 4, 2012

Commercial Market Report October 2012

October 3, 2012 -- Toronto Real Estate Board (TREB) Commercial Division Members reported lease transactions accounting for almost 3.5 million square feet of industrial, commercial/retail and office space during the Third Quarter of 2012. This result was down from slightly more than 3.7 million square feet leased in the Third Quarter of 2011.
The year-over-year change in average lease rates was mixed. Based on transactions for which pricing was disclosed, the average industrial lease rate was up compared to last year whereas average commercial/retail and office lease rates were down.
“The industrial market segment accounted for almost three-quarters of total leased space in the Third Quarter. Average lease rates were up for all industrial size categories reported by TREB. If growth in average industrial lease rates continues in the Fourth Quarter and into 2013, it would suggest that market conditions are tightening with industrial firms in southern Ontario more confident about future growth,” said TREB Commercial Division Chair Cynthia Lai.
Commercial Division Members reported 214 combined commercial sales in the Third Quarter – down 18 per cent from 262 sales during the same period in 2011. The average selling price was down for all three categories, but a comparison of transactions suggests that the decline was more the result of a different mix of property types sold this year compared to last, especially in relation to commercial/retail and office space.
“The mix of sold office space shifted towards larger properties in the Third Quarter of this year. Generally speaking, larger office properties are associated with a lower price per square foot. As a result, when larger properties account for a greater proportion of total transactions the overall average lease rate tends to dip, all else being equal,” said Lai.
“The dip in the in the average commercial/retail sale price was also driven by sales of larger properties. Last year the mix and use of larger commercial/retail properties sold dictated a higher price compared to this year. For transactions in smaller size categories, average selling prices were more comparable between 2012 and 2011,” continued Lai.
For the full report visit:

Greater Toronto Realtors October Market report

October 3, 2012 -- Greater Toronto Area (GTA) REALTORS® reported 5,879 transactions through the TorontoMLS system in September 2012. The average selling price for these transactions was $503,662, representing an increase of more than 8.5 per cent compared to last year.
The number of transactions was down by 21 per cent in comparison to September 2011. However, it is important to note that there were two fewer working days in September 2012 compared to September 2011. The majority of transactions are entered on working days. On a per working day basis, sales were down by 12.5 per cent year-over-year.
“While sales have been lower due to stricter mortgage lending guidelines, we continue to see substantial competition between buyers. The months of inventory trend remains low from a historic perspective, which explains the strong price increases we are experiencing,” said Toronto Real Estate Board (TREB) President Ann Hannah.
September average selling prices were up compared to last year for all major home types. Price growth was strongest in the City of Toronto, including for condominium apartments with eight per cent year-over-year growth. All benchmark home types included in the MLS® Home Price Index (MLS® HPI) experienced year-over-year price increases, with substantially stronger increases for low-rise home types.
“Barring a major change to the consensus economic outlook, home price growth is expected to continue through 2013. Based on inventory levels, price growth will be strongest for low-rise home types, including single-detached and semi-detached houses and town homes,” said TREB’s Senior Manager of Market Analysis, Jason Mercer.

For the full report visit:
http://www.ilisttorontohomes.com/account/78ab9f8164dfd923/pdfs/sept_market_watch.pdf