Toronto Real Estate Board MLS Update: GTA Resale Housing Down but Healthy

March 5, 2008 — President Maureen O’Neill announced today, Toronto Real Estate Board Members recorded 6,015 resale home transactions last month, down 11 per cent in the Greater Toronto Area overall , 14 per cent in the City of Toronto and 9 per cent in the 905 suburbs compared to February 2007.

“To get an accurate perspective of current market conditions, a number of factors have to be considered,” said Ms. O’Neill. “With 18,018 properties available for sale, inventory has decreased seven per cent from last February.

“This indicates that despite moderate sales, there is not an over-supply of homes on the market. Generally, properties that are listed are selling fairly quickly and with a list to sale price ratio of 99 per cent, for the most part, sellers are realizing their asking price,” O’Neill added.

Despite the decrease in the number of sales from this time last year, there was positive news with respect to prices in February. At $382,048 in the Greater Toronto Area and $424,235 in the City of Toronto, the average price increased four and two per cent respectively compared to February 2007. As well, the time on market in February was 30 days compared to 35 days a year ago.

Despite the overall decline, some GTA neighbourhoods experienced strong sales in February.

In Pickering (E13) sales rose 28 per cent overall compared to a year ago due to a strong increase in condo townhouse and condo-apartment transactions.

Strong condo-apartment sales also drove transactions in Rexdale (W10) to an overall increase of 18 per cent compared to February 2007.

Richmond Hill North (N05) experienced a 19 per cent sales increase compared to a year ago primarily as a result of strong detached home transactions.

“All economic indicators are in place for an active year in the GTA, and as the weather improves sales are expected to increase as well,” said Ms. O’Neill.

Source:  TREB (Toronto Real Estate Board)

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Toronto Real Estate Terrible MLS Photo of the Day #8

terrible MLS photo of the day logo

Today’s terrible MLS photo is not so much a terrible photo, but a very bad photo because it was the only image used for a home valued at over $1,000,000.00.  I am sorry, but if you are listing a million dollar home, spend the little bit of money and have a professional real estate photographer shoot your photos for you.  I do it with $300,000.00 homes, why wouldn’t you do it with a million dollar MLS listing.

million dollar terrible mls photo of the day

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How to Successfully Lease a Condo Apartment In Toronto.

Are you looking to lease a condo in Toronto?  Quality apartments do not last long, You need to be prepared with the following items to improve your chances being accepted as a tenant.  You should have these ready before even looking at condos.

  • Letter of Employment – You need to get a letter of employment from your employer.  The letter should state how long you have worked there and your current salary.
  • Credit Report. – You will need to have a recent credit report.  You can get it instantly on-line via www.equifax.ca or via www.transunion.ca.  You want the full report and credit score.
  • Rental Application – You will need to fill in the rental application form.  The rental application is a standard OREA (Ontario Real Estate Association) form.  I can email you a .pdf file that allows you to type on it or I can give you a copy when we meet for the first time for a showing.

After you are accepted as a tenant, you will need to do the following:

  • Provide a certified cheque or bank draft for the first and last month deposit, this has to be done the next business day.
  • Provide a key deposit (not a set amount, each lease will have its own amount)
  • Get a standard tenant insurance package.
  • For your convenience you should also be prepared with 10 postdated cheques for the first year of the lease.

Steven Campbell, Sales Representative
Forest Hill Real Estate Inc., Brokerage

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Toronto Real Estate Update: January 2008 GTA New Home Market Report

— RealNet Canada Inc. releases the January 2008 GTA New Home Market Report, providing insight into sales activity, index price and remaining inventory of Low Rise and High Rise projects by product type for each Toronto Real Estate Board district.

January 2008 GTA Low Rise New Homes Sales Regain Momentum

There were 1,703 new home sales recorded in January 2008 in the Greater Toronto Area, down 16% from the same time last year. January 2008 Low Rise sales accounted for 60% (1,019) of the new home sales activity in the GTA, with an increase of sales of 10% from the previous month and a decline of 26% from the same month last year. According to the RealNet New Home Price Index the average asking price of a new Low Rise home increased by 8.2% within the last 12 months. January 2008 High Rise sales totaled 684 units sold, down 31% over the previous month and up 3% compared to the same time last year. Similar to Low Rise, the average asking price of a condominium unit increased by 11.1% since January 2007. 
 
 
 

Source: TREB (Toronto Real Estate Board)

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Toronto Real Estate Terrible MLS Photo of the Day #7

terrible mls photo of the day logo

Yes it is another edition of the Toronto Real Estate Terrible MLS Photo of the Day.  Usually I post this series on Tuesday’s and Friday’s.  Unfortunately I was busy on Tuesday this week so we are posting a day late.  This series has been popular with all readers so I have decided to keep my Tuesday and Friday schdule and I will post 2-3 more as time permits during the week, making it an almost daily feature here, so make sure you subscribe below.

Toronto MLS Terrible photo of the day #7

I am sure the view would look just as nice with the inside being bright.

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Featured Toronto Condos: 33 Empress Ave.

33-empress-ave-condos

Welcome to 33 Empress Ave.  A beautiful Condo building located in North York right at the corner of Yonge St. and Empress Ave.  33 Empress has direct access to the TTC Yonge subway line and bus routes.  Highway 401 is a very short drive just 5 minutes south.

Local Amenities

33 Empress is a very popular building.  Besides being located in the heart of North York these condos have direct access to Empress Walk, which is a shopping plaza featuring Loblaws, a movie theatre, restaurants, and shopping.  This building is also walking distance to more shopping, restaurants and other entertainment.  Centerpoint Mall is a short drive, located at Yonge and Steeles.

33 Empress Condo Features

Condo apartments in this building range from bachelor’s or 1 bedrooms to 2 bedroom, 2 washroom and some of the one and two bedrooms have dens.  There is 24 hr security, parking for units that own the spot.

Some of the amenities include an exercise room, recreation room and a sauna.

Maintenance Fees

Maintenance fees include water, parking (when spot is owned), building insurance and common elements.  Heat, hydro, cable and central air conditioning is not included.

Steven Campbell, Sales Representative
Forest Hill Real Estate Inc., Brokerage

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Toronto Real Estate Terrible MLS Photo of the Day #6

Terrible MLS photo of the day #6

Todays terrible MLS photo of the day is a photo of a plant.  Yes, it is a plant.  I think I will buy a house just to get a plant.  I think if you are going to publish a photo of a plant on the MLS, maybe it is time to consider hiring a professional photographer.

Toronto Real Estate Terrible MLS photo of the day #6

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Featured Toronto Condos: 28 Harrison Garden Blvd.

28-30 Harrison Garden Blvd Spectrum Condos
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Welcome to 28 Harrison Garden Blvd.  This condo apartment building is located at Yonge st. and Avondale st., which is just south of Sheppard Ave. east of Yonge st. and just north of highway 401.  The Back side of the condo building faces Yonge st.

Types of Condos/ Apartments in the Building

This building has several different styles of condo apartments in it.  They range from 1 bedroom and 1 washroom to 2 bedrooms, 2 washrooms and a den (which some can be used as a bedroom).  Parking is available in the building, spots are owned by individual unit owners.  South West facing units have a view of downtown Toronto.

Building Amenities

This high end condo building has a 24 hour concierge and security system,  exercise room, recreation room and a sauna.  Outside the building there is parkland.

Local Community Attractions

28 Harrison Garden Blvd is very close to the Sheppard TTC station which has access to the Sheppard subway line and the Yonge St. subway line.  There is plenty of shopping right at Yonge and Sheppard.  There is also a movie theatre and lots of other entertainment.  The building is about 5-10 minute drive from Bayview Village mall and Centerpoint Mall.

Steven Campbell, Sales Representative
Forest Hill Real Estate Inc., Brokerage

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Featured Toronto Condos: 797 Don Mills Road, Tribeca @ Eglinton

797-don-mills-rd-condos

Welcome to 797 Don Mills Road Tribeca.  A Toronto Condo building Located right at Eglinton Ave East and Don Mills Road.  

797 Don Mills Road Condos 

This Condo building features units ranging from 1 bedroom plus den to 2 bedroom plus den that can converted to a 3rd bedroom.   They range from just over 700 square feet to just under 1200 square feet.   The units feature vaulted ceilings and some have balconies.  There is underground parking which is owned by the individual unit owners.

What do Maintenance Fees Cover? 

Maintenance fees include heat, central air conditioning, parking (when spots belong to unit owners), and common elements.  Property taxes, cable and hydro are not included.

Building Amenities

797 Don Mills Road features a 24 hour gym and recreation room.  There is a security guard on Duty 24 hours inside the ground floor entrance.

Local Amenities

The Don Valley Parkway (DVP) is minutes away.  You can get downtown in 10 minutes.  The TTC is right outside the building.  Buses go north and south along Don Mills road and East and West along Eglinton Ave.  This building is located across the street from the Ontario Science Centre.  Across the street to north is the Great Canadian Super Store.   5 minutes east is Eglinton Square mall at the corner of Victoria Park and Eglinton.  The mall is anchored by The Bay and a Dominion.

Steven Campbell, Sales Representative
Forest Hill Real Estate Inc., Brokerage

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