Monthly Archives: March 2016

HOT NEW LISTING: 240 BEDFORD PARK AVENUE, TORONTO $1,249,000

001WS

Immaculate TurnKey Fully Reno’d Home from Top to Bottom! 10++ Detached 2 Story Family Home In Prime John Wanless School District.  Open Concept Main Floor w/Brand New Custom Kitchen and Ceasarstone Waterfall Countertops, All Stainless Steel Appliances, New Windows w/Beautiful Modern Hardwood Floors throughout. A Nice/Convenient Main Floor Powder Room added to the Rear Sunroom/Office. Separate Entrance to Large Basement Rec. Room w/New 4 Pc Bath, All New Broadloom and New Laundry room. Great Location just Steps To Yonge + TTC Subway Entrance!

Brand New Kitchen w/Stainless Steel Fridge, Gas Stove, Hoodfan, Dishwasher, Microwave. New Engineered Hardwood floors throughout, New Hvac, A/C, Furnace, Electrical, Plumbing (all in 2015), New doors, PotLights, Windows (all in 2015) New 4 Piece Bathrm in basement, New Mainfloor 2Pc powder room, New Broadloom in Basement Rec. New Laundry. New Back Flow valve (all in 2015)

For More Information Visit: www.240BedfordPark.com

HOT NEW LISTING: 193 DOWNEY CIRCLE, AURORA | $679,000

001FM

A Stunning Spacious Bright End Unit Townhome In Prime Aurora Over 2200 Square Feet. This Beautiful Home Has Upgrades Throughout And Features 4+ 1 Bedrooms, 4 Baths, Gorgeous Loft, And A Finished Basement. Landscaped W/Interlocking Walk Ways, One Of A Kind Floors, Fresh Paint, Gas Fireplaces, Quarts Bathroom, And A Custom Gourmet Kitchen With Granite, Island, Backsplash, Including Stainless Steel Appliances. Very Well Maintained, Move In Ready A Must See!!

For More Information Visit: www.193Downey.com

HOT NEW LISTING: 879 BUR OAK AVENUE, MARKHAM | $649,000

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Location! Location! Location! Prime Markham Freehold Townhome On Premium Fronting Onto Park Lot! Original Owner Never Offered Before! Beautiful Layout With 3 Bedrooms, 4 Washrooms, Finished Basement With Home Theater Ready And Rare 3 Parking Spaces 2 Car Garage. Interlock Front And Backyard, Stainless Steel Appliances, Central Vac, Laminate And Hardwood Throughout All Within Wismer Community And Prestigious Schools! Close To Everything You Need!

For More Information Visit: www.879BurOak.com

HOT NEW LISTING: #805 – 18 William Carson Cres | $610,000

 

 

Luxury Hillside Ravine Condo In Hoggs Hollow Area!! This Bright & Spacious Split 2 Bdrm +Den Layout Features 1,067 Sq.Ft+Balcony With Stunning Beautiful Treed West Views. 9' Ceiling, Functional Layout, Open Concept Design, Den Can Be Used As 3rd Bedroom, Hardwood Floors Throughout. Two Parking Spots Side by Side. Fantastic Facilities. Walking Distance To Subway, 2 Min To 401, Golf Course, Park, Famous School District: York Mills Collegiate, St.Andrews Junior High.

All Elfs, All Window Coverings, Fridge, Stove, Dishwasher, Washer and Dryer! Exclude Freezer in Den Maint Fee Includes All The Utilities. 2 Parking Side by Side And 1 Locker Included, Huge Granite Countertop. This Unit Is Not To Be Missed.

For More Information Visit: www.18WilliamCarson.ca

 

 

HOT NEW LISTING: #502 – 2 ANNDALE DRIVE | $679,000

 

Luxury Corner Unit In Tridel Hullmark Centre With Split Bedroom Unit With 2 Bathrooms Which Boasts 9 Ft Smooth Ceilings, Designer Kitchen With Built-in Island and Wine Fridge, Built-in Microwave and Oven, Granite Countertops, Double Vanity Sinks, Frameless  Glass Shower and Quartz Bench, Wide Plank Expresso Flooring, His/Hers Closets, Large Balcony, Direct Access To 2 Subway Lines, Whole Foods. Minutes To Restaurants And State Of The Art Amenities.  Health Club Style Gym, Theater, Billiard & Whirlpool, Steam Sauna + Outdoor Pool, Hot Tub & Cabanas. BBQ and Dining Area!

Extras:  All Electrical Light Fixtures, All Window Coverings, Stainless Steel Fridge, Cook Top, Built-in Oven and Microwave, Panelled Dishwasher, Built-in Island With Wine Fridge, Washer and Dryer. Over $25,000 in upgrades! Almost 1000 sqft.

For More Information Visit: www.2Anndale.ca

 

How Competition is Affecting Home Prices in Toronto

Sarah-Joyce Battersby of The Toronto Star, stated that single-detached homes are becoming a “luxury item” in the city of Toronto, especially for first-time buyers. But is it true? Are single family detached homes becoming so expensive that they can only be considered a luxury item? Available only to a select few? Examining the numbers and considering what some analysts have to say about the current and future condition of the Toronto real estate market sheds light on whether “luxury item” can accurately characterize detached homes in this city.

The most recent statistics published by the Toronto Real Estate Board show a familiar trend we’ve witnessed over the past year: record setting price and sales figures. There were a record number of transactions last month, over 7,000, up a whopping 21.1% compared with February 2015. The average home price in the Toronto area climbed almost 15% to $685,278, while the MLS home price index, an alternative (and what many deem a better measure), showed a gain of 11.3%. With regards to detached homes specifically, the average price in the 416 region is close to $1.2-million (up 16.3 per cent since this time last year), while in the surrounding 905 area, it’s now $816,705.

The number of new listings also rose, up 8.2% year over year. But even that, combined with new mortgage restrictions introduced in the middle of the month, has done little to slow down demand, which is what’s driving up prices, among other things. Garry Marr of The Financial Post commented on this, stating that the “initiative to increase the minimum down payment needed to buy a home has done little to slow the market.” It’s become evident to anyone examining the market that supply simply can’t keep up with the blistering demand. And a few reasons are cited to account for this.

Both John Pasalis and David Fleming, two seasoned Toronto real estate agents who spoke with the Toronto Star, argue that the demand for homes in Toronto has become insatiable and insanely competitive. Buyers looking to purchase any kind of unit can expect to compete with multiple offers, from buyers both domestically and internationally. Buyers can be split into two categories, those on a budget who have a max price ceiling they can consider, and those with money to burn. Part of the problem is that latter can “bully” the former out of the running for most homes by placing a bid far above the asking price, effectively muscling potentially buyers out of the running for their dream home. And with the Canadian dollar being relatively low compared to foreign currencies, international interest in Canadian real estate is booming. Even foreign buyers who are poised to only spend $1 million can realistically spend $1.2-$1.3 million after conversion.

Robert Hogue, a senior economist with RBC., makes a very interesting point when it comes to housing affordability, stating that, “There’s no hard-and-fast rule for what’s affordable and what’s not affordable.” The only way to truly know how bad affordability has gotten is after a crash or market correction, which is dependent on employment rates. For now, everyone involved or interested in the Toronto real estate market will have to adopt a wait-and-see attitude.