Toronto Condos

Sailing? Such a great thing to do!

2012-01-19T09:34:00.002-05:00

People came from water. Well, every living thing in this world has its predecessor coming from the sea. No surprise then when so many people claim to love swimming, sailing or just being near water.

I personally prefer sailing. That feeling of freedom, sea wind tugging at your clothes...it's usually very relaxing. At least if you're not in the storm, of course. That's why I would personally recommend sailing to anyone who loves to relax in not so standard way. Of course, owning a boat isn't so easy, the boat itself taking much of your time in terms of caring about it, but it pays itself handsomely.

If you want to sail on your own boat, you need to pass the captain's exams, but if you aren't so keen on studying or simply don't have time, you can still rent a ship with a captain, or use standard commercial sailing services. That way you don't have to worry about a thing (if your captain is a respectable fellow) and can focus on enjoying the ride, fishing, or just relaxing sailing by yourself or sailing with your family!

Happy sailing and make sure you don't get lost!

Where In The World Will You Find The Purest Air?

2011-10-24T11:27:00.002-04:00

Pollution may damage your health and has been blamed for quite a few respiratory problems, the worst offenses being seen in cities. One of the most striking stories about air pollution recently concerned China and how, for the 2008 Olympics, had to purify their air. Not only were residents discouraged from driving and factories shut down during this event, there were also air blowers and aircraft working to disperse the smog cover that always surrounds Beijing. Sadly even with these drastic measures it didn't completely clear the issue, with athletes claiming they were under performing due to air quality and problems with breathing.

China may have pollution problems, but Canada is completely the opposite. According to the World Health Organization (WHO), Canada’s cities are at the top of the rankings with the greatest air quality in the world.

WHO wanted to measure air pollution levels in numerous cities and countries to supplement medical and health research and provide quality information for policymakers. The report concentrated on the disease burden caused by the health risks of air pollution for each city and was called Outdoor Air Pollution. To put things into perspective, outdoor air pollution is believed to to account for 1.4 per cent of total mortality and other common health problems.

The guide used by the WHO is the compound mass of microscopic airborne particles per cubic metre, measured in micrograms. It acknowledges that places more dependent on coal, areas with hardly any air circulation (wind), and cities with a lot of traffic are susceptible to a greater health risk.

From all of 91 countries and 1,100 cities all over the world, Canadian cities took eight of the the Top 10 least polluted cities in the analysis. Of all the cities analyzed around the world, the capital city of Yukon, Whitehorse ranked first by a big margin! According to this report of The Toronto Star, Whitehorse is followed by Kitimat and Burns Lake, both in British Columbia.

The WHO recommends that there should be less than 20 micrograms of pollution per cubic metre and just about all Canadians fell within those rules. Even though 21.2 µg/m3 is a little higher than the advised amount, our "worst" city isn't too far over the limit and that was Sarnia in Ontario. Of course Canada does have some advantages over other parts of the world as it has a smaller population density, but some of the credit needs to go to the control mechanisms and stringent regulations on pollution that we put in place.

An island east of Madagascar, Mauitius and Estonia in Europe were the only areas that had a higher overall result than Canada had Somewhat surprisingly, the country with the worst air pollution is Mongolia (likely its capital of Ulaanbaatar), closely followed by a few cities in India, Pakistan, and Iran.. Written by Toronto MLS realtor.

History And Refinement Are The Foremost Attractions At Toronto's Waterfront Condominiums

2011-08-12T10:23:00.002-04:00

Anybody that has walked down to Toronto's Waterfront can tell you that this place is exceedingly special. The Waterfront alludes style and history and feels like that little piece of paradise. There are shops and restaurants as well as cultural and family events to see, but perhaps the largest thrill you can find in Toronto’s Waterfront is living there in one of the impressive condominiums that are abundant.

TiptopLofts is situated on the lake close to the shopping and dining of the Quay and many entertainment stops at Toronto’s legendary Harbour front. The resurfaced stone facades out front and even some of the original light fittings in the lobby can fool you into thinking you’ve gone back in time.

Some of the appeal is the diversity of activities located in the small area that makes up the waterfront. With family activities, fine dining at one of the many restaurants, clubs and shops, the Ontario Place is not far away.

The 18 Yonge Apartments make you feel more as though you’re in the bustle of a cosmopolitan centre as you can detect the pulse of traffic out front. Style and class is considerable throughout the 39-story apartment block and it even has a 24-hour concierge who is around to see to your needs.

Another superior condo building on Toronto’s Waterfront is the Harbour Terrace Condominium seen at the Queen’s Quay and Spadina. Every unit has spectacular views of the lakes brought about by the imaginative design of of the building which positions each unit at a 45% angle.

The Toronto Symphony is just yards away from another splendid condo complex that is located at the south end of the city. Down town and water front amenities are close to the Pinnacle Centre and for people that enjoy being in good physical shape, there is an indoor pool and a fitness centre.

Conceivably the most luxury condominiums found at Toronto’s Waterfront are the appropriately named WaterClub Condominiums located at York Street and the Queen’s Quay. A luxury lobby sets the scene of this 3 phase complex and the exquisite granite countertops in the apartments say 'elegance'. Not to be bettered, these suites also have a pool that spans both indoors and outdoors as well as underground parking for people that are safety conscious

Still at the Toronto Waterfront but this time at the north of Lake Ontario, Ten Yonge Street is found To make the most of the view, these apartments have floor to ceiling windows, so an exemplary choice for individuals that like being near water.

Three Top Articles - My Selection

2011-02-08T09:43:00.002-05:00

Every day comes with tonnes of interesting articles, unfortunately nobody has time to read them all. Let me suggest you just three of them:

Contemplating New Year's Resolutions? - Don't Discount Your Home - Few good thoughts about New Year's resolutions! The article continues here

A Valuable Guide For Those Wishing To Sell Their Property At Xmas - The last Xmas is gone, but the topic of selling property during holiday is always fresh.

Contemplating New Year's Resolutions? - Don't Discount Your Home

2011-01-18T08:01:00.002-05:00

Another year has finished, I can hear a lot of you questioning 'where did the time go'? Along with the fireworks, the parties and the cold weather, now is a prime time to seriously contemplate what , if any, New Year's resolutions you are going to start up. Many of us think about resolutions which directly influence us, such as cutting down on fatty products, exercise and healthy living. But we should not ignore our house though. Why not consider a few of property related New Year's resolutions as well?

To get you to think about it, I have listed some suggestions for resolutions which you may like to try:

We have all heard and seen facts about becoming more ecologically friendly, this would be a good time to put that information into action. Try not to be too wasteful and begin, for instance, recycling and splitting up trash! It is very simple, you will help the environment and it will definitely feel good to know you are doing something for our planet.

CO2 Monoxide detectors and fire alarms are exceedingly important in every walk of life, including our houses. If you don't have a fire warning alarm or a Co2 detector, you should install them. For those of you who have these fire and CO2 alarms put up, you need to make sure they are working and the batteries do not need changing. Don't ignore this; it may save your life someday!
What do you wish you could to do in your home? Make a decision about what you want to decorate or refurbish in your property and write them down, so you have a list of work to be done. You can then buy everything you need when it's on sale/the least expensive and save a lot of cash. Just think how much of your hard earned money you could save by purchasing items at sale prices. If you make plans, you have time to look around and choose the best way forward.

When purchasing an appliance for your property think about what you require, the price you want to spend before researching thoroughly your options; avoid buying the first one you come across. A few appliances, even if more expensive, might save you a lot of energy; try to think your purchase though!
Think about energy saving ideas you can implement. We have already looked at the way domestic goods in the home can save you cash, there are other ways too. Turning the heating down by 1 degree, turning off lighting, closing curtains on an evening to retain heat, insulate your boiler and unplugging electrical appliances when not in use, are just a few ideas for you to think about.

'Your property is your castle'; take care of it! As with any property repairs are commonplace, so do not keep putting it off. To keep your property in decent shape and avoid massive repair bills, make sure any repairs or redecoration is completed regularly.

As Toronto realtor, I know resolutions bounded to home are difficult. Look at your lifestyle think about what you have time to finish and what cash is available to you. Don't keep putting off your to-do list, if you want to paint the outside of the house, then do it; after all it is your property. Just pluck up the courage and complete the work! Do what makes you feel cheerful and revamps the property you live in.

picture by dgthekneelo

Best of December

2011-01-03T06:08:00.002-05:00

Here is a brief list of the most interesting December articles from Toronto Condos, which can be found on the Web.

In December, we focused on Feng Shui and Christmas. Meaning Behind Feng Shui can be found on Wikinut followed by Feng Shui in the Home - Bedroom. Another article, Selling A House At Xmas - Valuable Information, can help you the next December.

Don't forget also our Reverse Mortgage and Toronto Waterfront Condos articles!

A Handy Guide For Those Wishing To Sell Their House At Xmas

2010-12-21T06:13:00.001-05:00

picture by Ambre Carnes

The long expected holiday season seems to be advancing pretty fast. The primary thought in a lot of people's minds is getting the Xmas presents purchased and wrapped, therefore the shops are extremely busy. Clearly, the pre-Xmas madness has begun. Would you even consider selling your property at this time of year? Well, there are families who do want to sell their property, even during the craziest part of the year. Selling your property at this time of year does not really have to be a poor decision.

One of the best positives is that, before Christmas, the people who are looking for a new home are most likely very serious about it. With reduced time and so much to do, unless you are serious about purchasing a house, then it really is the last thought on your mind. With little time to themselves, prospective buyers are often more motivated and won't waste your time if they are not interested.

Also, the number of houses for sale right before Xmas may be smaller than during the rest of the year. The buyers do not have that many options to choose from, consequently there is less competition for you. As a result of this, many sellers find they get a good price and the sale goes through much faster. Most of us feel sentimental around this time and can fall in love with a property more easily; you may find that they are even willing to pay out more for the property of their dreams.

Decorating your house for the holiday season is normal for the majority of people, sellers who have decorated can use it to appeal to buyers. Decorations make a property look cozy, lived in and extremely pretty. Use the decorations to fluff your property, fluffing is quite usual at any time of year but more so at Xmas. Most homes look truly gorgeous with Christmas decor. Beware you do not go overboard with decorations. Decorate your property to the maximum effect, but keep an eye out on how many or where you place decorations so you don't go overboard.

With the many bonuses of Xmas time selling, don't put off putting your Condos in Toronto on the market, use the holiday season to your advantage. If a person wants your house, there is nothing to worry about. We have all heard of people buying cars for their loved ones at Xmas, well there are people who will buy a home as a Xmas present as well. You may think 'no way', but I have heard of buyers who do this.

Interesting articles in the last two months

2010-12-13T07:01:00.003-05:00

Besides writing for blogger, I am active on number of other sites. Here is the list of the most interesting articles from October and November.

How to decorate your home

Simple guide on how to improve your home's look

Multigenerational living

One home, more generations? Yes, and no!

Leveraging social networks

Why and how should realtors use social networking

Selling home the easy way

How to sell your home without stress?

Rent or buy?

One of the key questions of personal financial planning!

Community cleaning

Your mission - help to clean your neighbourhood. More information about community cleaning also here. Community cleaing was hot topic also in the cleanup article on Amazines.

Feng Shui

I devoted two article to this interesting topic. The second one about Feng Shui can be found on Xanga

Feng Shui in in our House - Where you Sleep

2010-11-19T11:20:00.001-05:00

Meaning wind-water - does this word association remind you of something? I can hear some of you saying 'No', well it doesn't make it any clearer to me either. But if offered with its original translation, you probably would know exactly what it is. Although the expression 'wind-water' doesn't make any sense to most of us, the original translation often does. Feng Shui began in Chinese astronomy and it was used to orient buildings with heaven and earth, nowadays it is more about balancing heaven and earth in our environment to promote positive qu (pronounced chee).

Within the home many individuals already organize their rooms directed by this old Chinese tradition. It doesn't matter which room in the property you want to organize, every single room can be organized using this old tradition. It doesn't matter how many rooms are in the hproperty, they are, according to the theory all connected. Still I just want to tell you about a few fundamental rules that can be used for the room everybody spends time in, for at least a few hours each day, the bedroom.
When choosing what to put in your bedroom, according to feng shui, you should avoid items such a TVs and gym apparatus. This is because this type of apparatus will eliminate any good energy you have in there. On the other hand, good happy artwork and items are just right for any bedroom. To promote good energy, look for positive pictures and items that you can duplicate, as one of something is still wrong for the bedroom. Choose pictures that are bright, cheerful and positive as well as ornaments, though make sure ornaments are part of a pair. Choosing inspirational things is the key to being content. If you feel good about the decor in the room, then odds are you are on the proper track. You have to admit to yourself that looking at something nice and joyful is much better than looking at something depressing and sad.

Feng shui will also help you choose the colors best suited to create that perfect setting in your bedroom A decent range of colors that is put forward, is the color of human skin, from pale colors to a dark brown I would say most of these shades can combine particularly well with any other color. If you decide to use these shades, you will also find that the majority of other decors go well with them, as they are quite neutral. Try making use of a contrasting colour on some of the walls, or your favorite colour; this should make a perfect combination. As flesh tones are quite neutral, any other color you choose should go very well and look effective.
Feng shui will also help you find the correct direction to put your bed. You should know which aspect of your life you want to influence, in almost all of them, the bed should be turned in a slightly different direction. The general rule is, decide which part of your life you want to change, then position the bed in a slightly different direction. There is no universal working position, so look up the position in accordance with the part of your life you want to improve. If you are unsure what each position means, then there are many ways to find out, from books to browsing the Internet.
As a Summerhill homes realtor, who spent almost 3 decades working with properties, I must warn you: Beware! One thing you should not do, according to feng shui, is to put a mirror facing your bed. People can still have a mirror in the bedroom, though. Close your bedroom door as well as closet doors, is another recommendation feng shui promotes. I don't know about you, but I always feel protected having the doors closed anyway. If you generally do not like doors closed or need them open for a reason, then for your piece of mind don't close them. One of the most important things to take into consideration, is your comfort is paramount. No amount beneficial energy is going to flow if you feel distressed in your bed.

Feng Shui by Skype Nomad

Neighborhood Cleanup May Be Your Initiative

2010-10-21T08:32:00.002-04:00

picture by Alan Stanton

Is your community full of waste, rubbish over the streets and dirty? Take the problems into your own hands and clean it up! it out! Young or old, fit or unfit, a neighbourhood cleanup is something the whole street can become become involved in. Not only does it cleanup your area but it also brings communities together and a good way to make new friends.

So nobody else thought of the job or wants to arrange it;sort it out; that's not an issue, organize it yourself. There has to be a leader with every job, don't be frightened to be in charge of the event! The streets are not going to clean themselves, if you can't pluck up the courage to do something about the rubbish. The local authorities should be your first point of call, do this in advance of getting anyone else involved with the event It's best to check with them first, to avoid any problems in the future, not that there is likely to be. They may be able to support you by loaning equipment or even just some good support and advice.

To help your whole community, the affair should be massive, which means arranging a great campaign. Catch the attention of your neighbours with posters or a note through the postbox; you could even pop round personally to rally their support. Tell residents well in advance so they can make arrangements to be there, then keep them informed as well as sending out reminders. Anyone that is interested in helping should have their names written down so you know how many residents are turning up and try and set up a few meetings to sort out the nitty gritty with them. Ask for support with the organization, if your day is going to involve large numbers of people and cover a large area, you could find the work too much to do by yourself.

Details of what needs to be completed should also be assembled as well as any equipment you may need. People can also dispose of stuff from their own home; it depends on what you agree. As for the community itself, share the responsibilities. Nobody can be expected to provide all the materials needed, nor can one person be expected to deal with any issues, to that end delegate responsibility. A good idea is to have each resident or family bring only the bits they are going to need in the cleanup. Put the community litter to a community bin, and so on.

When looking for the right manager, look at someone with large social network. Your broker can be helpful. As a Toronto homes expert I mean it! After the cleaning it could be a nice idea to celebrate the work has been done with a street party. If a full day of tidying does not get the neighbours more friendly, a celebration certainly will! Organize, for instance, a fun barbecue evening in a common space and have a brilliant time! The sign of a nice neighbourhood is working together and being there for each other. Help your community be great, too.

Home Repairs: No Help Needed

2010-09-26T12:43:00.002-04:00

There is nothing in this world that works well forever. Furniture, machines and basically anything in your home cannot either. When something breaks down, many of you would call an expert to look at it right away, I'm sure. That is not always necessary, though. A noticeable amount of money could be saved if you at least try to fix at least the simplest things yourself. Experts, however, save a lot of time, energy and patience.

What can you do alone and when is the help of specialists necessary? Let's check out few activities:

Light bulb changing - well, honestly, I don't expect anyone to call professionals to do this, really. Still, there sure are many who would not do it themselves. They would rather survive long hours with no light until someone perhaps taller and handier comes along. If you do it yourself, be careful and always turn off the power switch when changing a bulb though.

Paint - it kind of belongs to repairs, too. A fresh coat of paint can very noticeably "repair" the look of a room or house. As I have mentioned in one of my articles, paiting belongs to activitied which could be on your own 'to do' list. It is not expensive. You only have to pay for the paint. On the other hand, though, it takes a lot of time and energy.

Clogged drain - it happens every once in a while, due to hair or minerals in the water. There is no need to immediately call professionals when you want to save the clogged drain. They often only advise you to use some specific chemicals. Those can be found in many specialist or DIY shops, try to visit them!

Roof - if you feel really confident about your skills, you could try to do the job, yes. In my opinion, it would not be such a wiese decision, though. First of all, it is quite dangeruous. Also, the roof certainly belongs to the most essesntial parts of your house. If you do not repair it well enough, water could get inside of your home very easily if it rains. Hence it seems to be quite wise to let professionals do the job.

Electricity - repairing anything electrical is something only professionals should be allowed to do. I'm pretty sure that even when you were a child, your parent told you many times that working with electricity, if you are not an expert. might end up in a disaster.

In case you have decided to save few dollars by doing a couple of easy fixes at home yorself, good luck! Online, you can find hundreds of different articles books or videos which could guide and help you. Just look for them. Not to offend anyone, I am certainly not a professional at home repairs either, but while searching for some guides, I found a book, the title of which is worth mentioning: The Complete Idiot's Guide to Simple Home Repair by Judy Ostrow. I laughed out loud when I saw it.

Painting Your Home

2010-09-15T05:33:00.001-04:00

We all have that desire once in a while to change how our property looks. As the owner you have probably lived with the same look for many years and while it still looks nice to others, to you its ready for a change. You do not need to go to a massive expense to change the look, a coat of paint can freshen the look of your property.

So now you have determined you are going to repaint, there are one or two decisions that need to be made. The very first thing that should be settled is whether you want to paint the exterior, interior or both. It's not just you who will see the results of your hard work, if you paint the outside, individuals passing by will see that fresh new look. Painting the outside is not an option if you live in a building that is not owned by you, such as a apartment With condos, the choice is quite apparent and it is the interior that will be redecorated with a new color. For most people, repainting the inside is the option they will choose, which stands to reason as the interior requires redecorating more frequently.

Once you have made the decision to paint your property, the next thing on the agenda is who is going to do the painting. If you have some family and friends living close by, then the cheaper way is to do it yourself. The only expense will be the new paint colour, some tools and maybe a couple of beers and pizzas for your assistants. If you don't have a lot of time to work with, then you could find that decorating this way could take up your free time for quite a few weeks, also think about the chaos it would cause. Despite the fact it will cost you more, a more simple option, and one that will have the least impact and disruption on your life, would be too employ someone to do it for you.

The most essential question to be determined is the correct color. A small room can look more spacious with a pale neutral paint and a dark room can be made to look fresher with a bright colour. It is important to think about whether the wall covering will match the furniture and accessories in the room it does not have to be the same shade but they should be complementary. As for the outside paint, be careful not to make your house look totally like the one next to yours. Although, it is probably not a good idea to paint the outside of the property with strong colours, a colour that blends in with the neighbourhood is probably the best idea.

Don't let friends or family tell you what colour you should choose, only you know what is right for your property. So if painting your property is on your to do list, then good luck and I hope this write-up helped.

Created by Elli Davis Team, popular Toronto Condos realtors

picture by Barjack

Colorful, Autumn Home

2010-09-11T18:05:00.003-04:00

Time flies by faster than we realize and very soon, we will have to wave summer goodbye. Walks in colorful leaves and listening to raindrops will be a big part of our lives for some time again. All of the season have some specific characteristics. Autumn does too and those should be shown in your home too.

There are many houses that are redecorated quite a few times a year, according to the current season. Fall seems to be the most colorful out of the seasons - those offer many interesting ideas. The top colors of this season are orange, red, yellow and brown. Your place can get a very nice and warm look thanks to these colors. You certainly do not have to repaint all the walls in the house and change the furniture but couple of accessories can make wonders.

Pillows, candles, pictures or paintings could easily change the way a room looks. They are really affordable and hence you can have a specific collection for every time of the year. Buying a little picture showing autumn leaves, for instance, is very easy. The painting does not have to be by a famous artist or expensive - it can be sold everywhere. Also the orange, red and yellow color combination is very stylish and many rooms are furnished and accessorized by items from these colors. In case the colors and styles in your home do not go well with these, you should not use them, naturally.

When someone says "autumn", leaves is the word that comes first to mind of many. It is easy to pick up few nice ones even in your garden. This is where a vase comes in handy, use it to show the wonderful leaves you found. In case you belong to creative people, you certainly can create a nice arrangement from the leaves. Moreover, a bowl full of red apples looks quite autumn-y as well.

Autumn is also the time of the year when it is starting to get cool outside, so we have to prepare for the cold winter. This is also a very good time to get your roof and heating system checked, chimney cleaned and purchase a supply of wood, if necessary. It will be easier to enjoy cold, long, autumn and winter nights if you prepare for it beforehand.

Is There a Positive Side to Living in a Home with Lots of Generations?

2010-09-05T10:03:00.001-04:00

Do you live in a home with your kids and your parents? In spite of the fact that this scenario seems to be more common in old movies, it is certainly becoming more and more usual nowadays, than it was a few years ago. As with anything, lots of generations living under one roof will have positive and also negative sides to it. This feature, hopefully, will show you the main areas of living like this. If moving back home to be with extended family is something you are looking to do shortly, hopefully this report can give you an insight into what to expect.

Positive things to consider.

-it can often make better monetary sense. If the property is very large, with a floor for each generation, then this may not happen.
-you are occupying a house with your whole family around you. This can be a really advantageous point for living together as it can boost very close family ties.

-if the younger adult needs to go away at short notice and has no idea who could look after the children, in a multiple generation house, someone is always there to take care of them (no babysitter is needed). For the younger generation, there is a wealth of advice and support available from the older generations.
-the older generations may have health issues, therefore the younger members of the property can support them to living independently as much as possible. Helping each other is the big positive point of living together, just think coming home from a long day at work and someone has prepared a meal for you.

-the older generation can feel by themselves, primarily if they are housebound or have lost their life partner. With young adults and kids around, there is unlikely to be a dull moment, therefore being surrounded by family gives the older generation people to lean on.

Let's now consider the not so good points.

-if you want to have a personal life and some alone space, it's not going to be effortless.
-parents might meddle in the life of their children and grandkid too much, and vice versa.

disputes about bringing up the children (the grandparents are treating them too much and so on).

-consider your partner, how are they going to feel being in such close proximity to your family, they may even worry that you are comparing them.
-the generation gap could cause problems, each generation has their own way of seeing things and thoughts on how things should be done. Naturally, it is important to live in a home, which is capable of accommodating more generations Forest Hill houses is ideal for this.

Rules need to be set up before entering into this kind of household, there are a multitude of other areas to think about that I haven't covered, as a family it's up to you how you deal with it. Honesty is particularly important, though. Do not put yourself in the situation just because someone else would like you too, if it isn't the life you want then nothing is going to change your point of view. When all said and done, if you are depressed then other people are going to feel that, which makes for a very tense home and relationships could break down.

Picture by Wisconsin Historical Images

Homes That Are Overpriced Do Not Sell

2010-08-27T15:47:00.003-04:00

You have certainly seen many wonderfully looking houses with the sign 'for sale' right next to them. That is nothing unusual, is it? Unless the sign is there for way too long. Why aren't these homes, in spite of their fabulous look, sold already? Think about it.

You may be partially right if you guess it is because of their not very attractive location. Yes, the house might look absolutely gorgeous but if no important facilities are in close proximity or if its surrounding is not nice, it does not matter how awesome the house looks. Such scenario is not all that common, though. The reason houses do not sell is quite different. Usually these stunning homes, which seemingly do not sell, are simply overpriced.

Buyers, naturally, do not even want to offer on such homes. The seller might be offended by an offer which is way below the requested price and the buyers may be embarassed by offering too little. They simply do not think it would be beneficial for either side. Furthermore, the sellers are expected to realize they are asking too much. Buyers are convinced sellers know what they are doing and would not sell the house for any less money; otherwise, they would have dropped the price already.

My advice to you is, if you are trying to sell your home and nobody has put in an offer so far, even though the property has been on sale for some time, think about whether the price you are willing to sell it for is not unrealistic. One of the simplest way to find out is to ask your realtor or someone who is an expert for your area. Also, if you have almost no showings, no contract in spite of showings or really no offers at all, you are very likely actually overpricing your property. It is understandable that you like and value it, but be realistic, who is going to buy it if it is unreasonably expensive?

People are not that silly. In order to actually sell overpriced homes, their sellers have to lower their price eventually anyway. It is thus smarter to start off with a "normal" price and do not spend long months waiting and worrying that the home will never be sold.

Summertime and Your Garden

2010-08-06T16:52:00.003-04:00

Summer time is the favorite time of the year for many. It is certainly not cold outside, the weather should be quite warm. You can spend so many summer nights outside having a barbecue session or simply relaxing in your flowery garden. The garden, oh yeah. We should not forget it needs attention during the summer, too. Perhaps, it requires even more regular care and it certainly needs a different type of care than usual. So what is the way to achieve having a nice garden which will last throughout the whole summer?

Do not forget to water and fertilize! When the weather is extremely hot, the soil dries out and it just needs to be watered. Late evenings, when the temperature cools down is the best time watering, as the overheated soil will not be unpleasantly shocked by very cool water. Also, fertilizing is quite important. Do not be too active with either of these activities, though. They might be harmful if you repeat them too often.

Another key activity is pruning! There are people who are scared to cut even those parts of trees or plants which essentially need it. That is one of the greatest gardening mistakes one can make, in my opinion. In case there is a dead head, the plant essentially needs pruning! Do not even think about it, just do it! It would probably end up completely destroyed otherwise.

Looks are important! Sculptures, wooden wheels or fountains form a part of many nice gardens. How many times have you stopped to look at them in someone's garden? Make them a part of yours, too! They might be a pretty good source of shadow or water, and thus not only attractive but also very useful. Nowadays, there are thousands of opportunities to make a garden look fabulous, just open your eyes and search a little! No need to go far from your home. Garage sales even in your neighborhood, for instance, can provide you with pretty and interesting items.

It is also important, in case you are leaving your house for a longer time, not to forget to ask someone to regularly water and check your garden. If you just left it here with nobody to look after it, it could be damaged after couple of very hot, dry days.

Which Option to Decide Upon - Buy or Pay Rent?

2010-07-14T08:50:00.001-04:00

Almost every youngster dreams about growing up, having a successful career, buying a great property and having an amazing family. Many of us dreamed of having our own property, unluckily that dream may not be as achievable as it once was. Renting a property also comes into consideration, as well. Looking at the long term, purchasing is always going to make more economical sense than paying rent. Whether buying your property or renting, they have their own advantages as well as disadvantages.

Renting

Choosing to rent is far the easiest way of moving out of your parent's property. It is quite simple to rent once you have found the house you like, just a matter of signing contracts with the landlord. You move in and you live there for as long as you keep the agreement for. A security deposit is often payable, but after that you pay the rent decided upon. A big advantage is repairs - so the water pipe bursts, instead of expensive repairs out of your pocket, it's up to the landlord to pay for them. New windows, a new heating system, air conditioning or any other improvements are usually the responsibility of the landlord. The biggest downside, is possibly the fact that the place is not your own and it is very likely that you will have to move out in the long run. Frequently you do not have the rights of when you have to vacate the property. Living in a house for a period of time makes it feel like your home, so it could be upsetting if you have to vacate it. Certainly if you are one of those individuals that enjoying moving, then this would be an bonus point for you. You have no home to sell, no worries about making the home nice for potential purchasers or the fees associated with selling. A big downside is if you want to make some considerable changes in the place, you have to ask for permission off the landlord.
Ownership

To start off with it could be difficult. You would need to find a suitable loan business for a mortgage and after it's accepted it will take years before you are clear of debt. Then after the purchase itself, you may want to decorate the building to your own particular taste. Including the mortgage fees, you have to pay fees for the property, all the improvement and maintenance costs and also home insurance. Still, you are the proud titleholder. The property is your own and if you want to refurbish it or change something, you just do. Apart from some cases where you may need planning permission and consent from the neighbours, you do not have to ask anyone before you do anything to the building. A word of caution though, what seems like a small repair or redecorating task can turn out to be rather expensive. Moving house is not going to be easy compared to moving from rented homes. A big downside is you are going to need to sell the property or rent it if you decide you want to move somewhere else. There is a need to wait for good market conditions, but it may take quite a long time. However, as somebody, who specializes in one of the most stunning areas in Toronto - Bridle Path Toronto - I can tell you with property ownership can be felt a very special taste!

If you do not want to settle down for years and plan to move away in the near future, renting is better than buying, especially if the rent is not very much. The monetary outlay of buying a property takes at best a couple of years to start paying off. You are unlikely to see any perks, in fact everything feels like it is costing you at the beginning.

picture by el clinto

Multiple Generations Living Together

2010-06-25T10:18:00.003-04:00

Do you live with your children AND parents or grandparents? Even though the scenario of 3 or more generations living together may be more usually seen in older movies, the truth is that it is now becoming more common than few years ago. Of course, multiple generations home have many positive, but on the other hand, also many negative sides. I hope to show you some of them in this article and in case you are just now contemplating moving in with your parents or children, it may also help you a little.

Why YES
-it may make more economic sense - but not necessarily, as sometimes the house is so huge that every generation has their own separate part and all of them only meet in the living room or kitchen
-the family is together and sometimes a really ideal family atmosphere and great relations could be created
-if the younger adults urgently need to go somewhere and don't know who could take care of the kids, in a multiple generation home, someone is always there to do so (hence no babysitter is needed) ; also, parents and grandparents can give great advice with regard to bringing up children
-members of the younger generation can take care of the house or go grocery shopping (the older are not always able to do this, maybe due to health issues).
-on the other side, the older generation could for instance cook while their kids are at work - mutual help is essential here
-any older people feel quite lonely, but living with their kids and grandchildren could help to overcome these feelings, as they will always have someone in close proximity that they can rely on

Why NO
-some might feel like they have no real private life at all, like they are never really alone -parents might interfere in the life of their children and grandchildren too much and vice versa -disagreements about bringing up the kids (the grandparents are spoiling them too much and so on)
-a very close relationship between children and their parents may not always be a good thing (women usually hate to be compared to the mother of their partner - e.g. "nobody can cook like my mom")
-having to adapt to and having to respect the needs and wishes of other generations (sometimes they may be surprisingly different)

It is very hard to give all the universal good and bad points with regard to multiple generations living under one roof- it all depends on the relationships between family members and setting clear rules right from the beginning. It is necessary not to lie to yourself and to your family. If you feel like you could not live in such a house, then don't. It is as simple as that. Even if your wife wants it, you are important too. Not taking your feelings and thoughts into consideration might end up in a catastrophe.

Second Homes: What to Avoid

2010-06-17T11:03:00.002-04:00

It is now very common to be an owner of a so called second home used mainly for vacationing. I am quite sure that, if it is not you, you know of someone who owns a home used just for holidays, weekends and relaxation. However, after purchasing the property, many people suddenly find it is useless (or not used as much as they expected) and realize it may cost them more than they predicted and so on. People may just not be happy about the buy after some time. This article aims to give you a couple of tips on what to do in order to really enjoy the second home.

Most importantly, you should realistically consider whether the house is really needed. If you think so, try to figure out why and for approximately how long. It is nice to think that you will spend a lot of time there until the end of your life, but usually it is not like that at all. As people are getting older, their preferences and needs are changing quite drastically. Even though it may seem to be just okay to look after a home when you are about 30, it will be completely different by the time you turn 60. Consider everything carefully. If the house is not going to be used for a longer time (you may just want it for a summer), it perhaps is better to just rent one. You do not necessarily have to buy it.

As always, finances are a big issue here. It is just a second home, that is true. But you should not forget that you have the very same responsibilities as for your original home. Payments, loans and problems are the same. However, as second homes are often located nearby the beach (and water) or mountains, they may be more endangered. Insurance can be very expensive and it is an almost essential part of a vacation home. Briefly put, responsibly consider whether you can actually afford a second home. If you know you do not have enough money yourself, it probably wouldn't be wise to borrow from your family or acquaintances. Seriously, owing money to someone is not pleasant, especially as second homes are not essential.

In spite of the fact that these vacation homes are popular, many are disappointed shortly after purchasing them. It is their fault that they do not think the buy through properly, though. Hopefully the tips offered in this article will help, in some way, prevent dissatisfaction with your weekend home. In case you have something to say about it, just leave a comment to share your thoughts. I would love to read it.

Renting Your Property Out and Tenants

2010-06-12T14:04:00.001-04:00

picture by gigiyesica

Leasing a home either as a landlord or a tenant, is something the majority of us do at least once in our lifetime. Only a couple of lucky ones have always been owners of their property and never had to experience living in someone's home. Some people however, do acquire properties to lease out. There rarely is a great landlord and tenant relationship, even the best ones can have the random disagreement or dispute. So whether you are a landlord or a tenant, here are some hints on making it run a little bit better:

Paying your rent on time is one of the first important rules of being a worthwhile tenant. Nothing is this life is free, so if an individual is providing you with a property then you should not make them wait for rent Also try not to be too wild and do not damage the house or the garden Even though it is not your house so you are not destroying your own property, try to take care of it just like it was your own. Typically only as many people as agreed upon should reside there – be honest and do not get roommates behind your landlord's back.

As a landlord you have a duty of care to your tenant, so make sure the home is in good condition. Check the home for broken windows and doors, make sure the facilities are safe and the property is clean. Try to pay for gas, water or electricity (if you pay for these) on time so that there will be no bad surprises for the tenants – it won’t be nice if suddenly there isn't running water. As per tenancy contracts you do not have the right to turn up and let yourself in unannounced, therefore do not keep an extra set of keys. Of course, the home is yours but remember, the people living there are paying you for that, therefore it is their private space.

As a Forest Hill Houses professional I believe the most important thing to do is put everything the tenant and the landlord agree on, on tenancy agreements. Some examples of what should be included are: who pays the gas and electric bill, the date the rent is due, the amount of notice that needs to be given by both sides and who is liable for property repairs. As a landlord are you going to accept dogs in the property? Clearly, agree on rules, write them down (trust me, it can prevent many possible disagreements and to be a good landlord and tenant, try to follow the rules.

How to Avoid the Pitfalls when Marketing Your Property

2010-06-05T08:39:00.001-04:00

Experts are there to help you sell your property, but if you prefer to do it without their help you could make numerous mistakes. The aim of this article is to point out some of the most frequent errors people make when selling their house, also how to avoid the pitfalls that will hamper your efforts to sell your property.
The possible sale of your property could depend on the exterior of your home, I have talked about it in other articles, this is the first thing a possible buyer is going to see. A very normal mistake is to think that the exterior is not really important, since people, generally come to look at the inside of the property. The garden, shed, patio and general state of the exterior of the property is imperative. You could leave the exterior in a tip, with overgrown grass and waste everywhere if you are really not bothered about marketing your property.

picture by thinkpanama

Whilst you may love your animals, a probable purchaser may not like them. There is nothing worse than a dog or cat jumping up at the potential buyer as they enter the property. In addition, some animals may smell really terrible. If you have, for instance, a really smelly cage with birds, clean it out just before the potential buyers comes to visit. Open windows to let out the smell of any animals and it also makes sure each room smells clean. Offensive smells can be pretty discouraging to possible buyers.

If you want to put purchasers off, then forget to clean your home. Smelly, dirty laundry, unwashed dishes, full bins and dirty work surfaces are just a few things that can be offensive to someone viewing your property. Understand me when I say, future buyers DO notice these problems. If you walked into a property and saw dirt everywhere and it smelled offensive, would you buy it? I would be out of that property quickly and would not look back!

Clutter, such as shoes, magazines, coats and other personal things need to be hidden away. Family pictures and the little one's painting masterpieces need to be kept to a minimum. Of course these possessions show this is a well loved family property but the people who are viewing your property need to imagine themselves living there. With all your individual things lying around, this isn't going to be easy for them. Your potential buyer could look in drawers, so avoid stuffing your personal possessions inside them, as doing this can be as detrimental to a possible sale as leaving them out.

What hints can you think of to help others have a favourable house sale? Have you viewed a property and disliked something so didn't purchase it? Let me know if there is something else that could be helpful to include in this report.

In case you have any question concerning selling a home, contact Elli Davis from Luxury Homes Toronto

More information from the GTA area.

What To Do About Bad Neighbors?

2010-05-09T07:36:00.002-04:00

Think about two scenarios. The first one - you have moved into your new home and it is just great. However, it has one irritating problem: the neighbors. The second one - your current place has been your home for year, you feel comfortable there and do not want to move out anytime soon. But suddenly, new neighbors move in and unfortunately their presence is not very pleasant. What to do in those situations? How do you solve the problem of bad neighbors? The aim of this article is to provide an answer to that, so read further to find out more.

In case you are the soon to be new person in the neighborhood, it is good to research the area a bit before actually moving there. Ask the people living there. It is unlikely that the owners of the home you are planning to buy are going to admit they are moving away because of the neighbors. So ask around, you will certainly get some feedback from those that live nearby. You should at least try, it is worth it.

On the other hand, if new people come to the neighborhood and you do not like them, you need to stay diplomatic. Not everyone is satisfied with their neighbors, that is for sure. But going to their home ans start screaming is not going to solve anything. At first, think about why exactly are you unhappy. You might be just too spoiled. Moreover, think about whether you are not doing something irritating, too.

Are you absolutely positive that the neighbors are guilty? Go and talk to them then. Peaceful attitude is the key. What you can do is inviting them over, have fun and talk. You will get to know them that way. Not only that is is less difficult to talk to a friend and tell them about your problem, but they also might be nicer and more considerate after becoming friends.

Sure, some of them might not be willing to cooperate at all. Are they way too loud and lots of people are complaining? Make a petition and give it to all the unhappy neighbors to sign! Some evidence, like pictures, will also be necessary to prove them they are doing a bad thing. Visit their house again, after you have all this info. If they are absolutely ignoring you and do no seem to be cooperative, you ought to contact their landlord. The very last chance is solving the problem you have through legal channels.

Purchasing a Home - Women

2010-04-29T17:21:00.001-04:00

A Few years or decades ago the idea of a (single) female purchasing a property herself would have been absolutely unimaginable. Whilst it may have been unimaginable years ago, in todays society a lot of single women now have the financial security to be able to buy a property of their own. Therefore we are seeing many professional and single women doing just that and the trend seems to be growing.

The disparity over the last few years has moved women away from the pigeonholed, uneducated, stay at home wife and mother. Even though there still isn't full gender equality, young girls, just like boys, if they are brainy enough, go to universities and have a brilliant chance to become successful lawyers, doctors or anything they want to be.

Some recent polls give some modicum of truth to my words, so let's have a look at these polls. For example, the 3rd annual TD Canada Trust Women and Home Ownership Poll, completed by the end of 2009, shows that 44 percent of women think the financial security as the most important thing about being a homeowner. That means a 21 percent rise from 2008. Not paying rent to live in a condo was the 2nd most popular answer to the question about benefits of property ownership. 38 percent of females voted for this choice. Again we are observing an increase since the poll in 2008, this choice had risen from 13%.

The general age of a first time property buyer is said to be 29, of which over 80% are single women, according to the IPSOS-Reid poll. Looking at the figures in more in depth detail, we also find that 80% of those women have no children and half have university degrees.

As a (female) Realtor from Toronto I understand that not every bit is as good as it seems. If you look at most professional jobs, there is still a gap in wage, with women being worse off than a man doing the same job. Statistics still show that women purchasing homes by themselves have more chance of running into problems, such as paying off a mortgage, than their male counterparts or if they were part of a married couple.

picture by Tizzie

Does Your Home Need a Refurb?

2010-04-21T13:01:00.003-04:00

Imagine you have bought a house. Your new home which you are very happy about. But it could be in better condition; it is not exactly new and has a number of faults that should certainly be dealt with. Shortly, a refurb is essential. The aim of my article is to offer you few tips you could use when buying a home that needs a refurb.

Look after exterior at first. Is there a big backyard, overgrown and messy grass and trees? That should be taken care of - exterior catches attention of people first. New trees, grass, flowers, a pool or something for children - you are allowed to do anything you wish. Most importantly, it is you, who should be satisfied with how your backyard looks.

After you are done with the exterior, you can go inside. The walls should be painted if necessary. Also, the floors, carpets, ceilings, windows or doors should be in a good state. In case something in your home seems like it is not going to last for a long period, throw it away - change it. In the end it may cost you a lot less than repeated repairs.

As for rooms - kitchens and bathrooms are usually those which need more attention than the rest of the rooms - in some of them, paint, carpets and furniture is basically everything that should be taken care about. If you are not planning to live in the house right away, but rather doing all the repairs while staying at a different location, it is probably better to start with these rooms. When you are done with those, the most difficult part of your work is over. Surely, in some houses these rooms might be in a better condition than the rest, so that they would not need extensive repair.

Be careful, if you are buying a home just because it is cheap, but in a horrible state, it may cost you a lot more than a nice, but more expensive, home that does not require so much work. Before purchasing a home for refurb, calculate the approximate cost of the big change, so there are no shocking surprises at the end when you see all the bills. I wish you the best of luck with possible future refurb of your home, and I want to ask you to share your experience if you have gone through home refurb before.

House Enhancements Real Estate Scams

2010-03-22T11:54:00.000-04:00

This real estate scam related feature one will be concerned with home improvement scam and a particular example of one of its most common types.

You Have a Home with a Chimney

These chimney scams are very frequent. It might just happen that somewhere, somehow you see an advertisement regarding chimney cleaning, for a very acceptable price, of course. So you make an appointment and the sweeper comes out to look at your chimney, but "oh no" your chimney is ready to drop down and badly needs fixing or even replacing. But be wary. Before taking the word of this sweeper, make sure you search around for a second or even a third recommendation.

Quality usually comes at a higher price, but often this is the better option. We all like a good deal, but often not everything, is as it seems. If they do the chimney clean right, then you have been lucky and should be grateful you found a bargain. But as soon as they mention your chimney needs fixing, watch out and ask someone else before paying out for the repair. If a sweeper is advertising with money off coupons or even direct into your mailbox, often sets the radar off for future fiddles. If you ever had a trades-person employed around the corner and just happens to offer you a good price, there is often something very fishy going on. I feel that I'm repeating myself, but be wary.

Property Improvement Swindles That you May Come Across

Here are some general hints about things to watch out for:

-they are allegedly working in your neighbourhood and just happen to turn up at your door offering a good price.

-offering you a low price because they happen to have extra material left over from a job or they have a bulk order they don't want.

-as they are working in your house they can do this chore or that job all at a reduced price - you may end up having your whole home unnecessarily repaired.

-wants payment upfront before the repair is finished (Are they going to finish the job or complete it well?)

If a small voice in your head says be careful; listen to it! With these scams in your head and your own natural instincts you can't go far astray.

Written by Elli Davis' Realtor Toronto team.

What Is Rental Scam?

2010-03-22T07:01:00.002-04:00

This is my last article about real estate fraud for now. Its main topic is rental scam. Have you ever heard about that before? I really think you have. But even if you haven't, the name is pretty telling itself.

You might simply be lied to a lose money to rental scammers. Want to know how to be careful? Here I am offering you some tips how to recognize a rental scammer.

Most importantly, if the price is a really low for a specific location, watch out. If something is too good to be true then it usually is not. In case you really have no clue about the approximate prices, search for the common prices in the area. Internet should help you. Browse the web a little.

Internet can actually help you in quite a few ways. Remember how did you discover the rental possibility? Online? If so, just try and copy the text of the advert to a search box and you will see whether there are many almost same ones. Name, some contact info or pictures of the home can be changed, for example. If there are, then it is even more likely you have found a rental scammer.

You should also be careful with the style of the offer - sometimes even the wording can tell a lot. A text just somehow quickly put together makes rental scam more likely. Another thing is the contact info. If the person does not leave their phone number, it is not a good sign. Of course, it does not necessarily have to mean anything, it just seems safer with a number there. Another bad thing is if the tenant says their are a reverend or something similar to look more credible.

Still, if you decide to contact the person even after some of these signs, be careful if they seem to too eager. Beware of their words that they have little time, etc. And if you have questions, always wait for a reply. The tenant should answer all your questions, if they hesitate, that is another bad sign. You should not just say yes to a thing in case you still have questions and doubts. If you do, you are making it very easy for the scammers to cheat on you.

Real Estate Fraud: Loan Servicing

2010-03-14T11:31:00.002-04:00

Loan Servicing Fraud is the main theme of my next article from the real estate fraud series! Do you want to know what it is, how to spot it and what to do to protect yourself? If yes, continue reading.

Loan Servicing Fraud only occurs when you obtain a loan from someone who is dishonest and has questionable practices. Subprime lending is very often connected to this kind of fraud. Naturally, unexperienced, first time lenders are threatened the most.

Simply said , after signing all the documents (thus almost unable to change the situation), the borrowers might find out that they need to pay higher monthly payments than they originally agreed on. The unexpected fees in the monthly payments are for, for example, insurance or some legal operations etc. Another instance is that a person applying for a mortgage loan is offered some, very good, interest rate they are happy about. After having all the needed papers organized and ready, or maybe after doing something around the wanted home, some lenders might just make the borrowers accept higher, less convenient rates than they applied for in the beginning. As the borrower is under pressure, they many times agree, since they are worried they might lose the loan.

Thus you all need to be very careful with your lender. The best is to have one, whom someone you know already has (positive) experience with. Such lenders therefore already passed the test of people the opinion of whom is important for you. In case there is no such lender, you ought to look out for out the one you have found and examine them. Internet is your friend in such cases - you can find some references about your lender, try it. If many people complain about them, just get a new one as soon as possible. A good, honest lender should provide you with documents clearly declaring the amount of the loan together with all the additional fees you may have to pay in the future.

All the payments should be included in the documents right in the beginning, so go through all of them carefully. Question? If you have some, ask your loan officer - do not be afraid and keep asking until you understand everything well. When you think the situation is clear enough, check out the papers you got once more, just to ensure all the info is correct. If it is, it is perfectly fine and safe to sign everything.

Home Equity Fraud: Explanation and Its Types

2010-02-28T11:16:00.002-05:00

My second article for the real estate scam series is here. It deals with home equity fraud and two of its most common kinds. Let's start with saying that the majority of lenders are just alright and honestly want the best for you, willing to help and offer you a good deal. But we cannot forget about those who are trying to profit and are not quite sincere. You need to be cautious.

The two most common kinds of home equity fraud are home equity flipping and home equity stripping.

Home equity stripping:

It is taking money out of your house/condo and basically even taking your property away. Let's say you have trouble with paying your monthly loan payments. When being in such a situation, do not apply for additional credit. You really need to be careful. Some lenders may well tell you to lie and fake your personal information in order to qualify for a mortgage loan, you would not qualify for otherwise. The best decision is not to listen to such lender and start looking for a new one. In case you cannot afford a mortgage loan, do not obtain one. Remember that lying does not solve the situation, it might just complicate everything for you. You lender might take away your house and strip you of basically everything ("equity stripping") if you cannot pay your monthly mortgage loan payments.

One of the basic forms of home equity stripping is 'home equity lines of credit'. Your property serves as a guarantee in such a situation. In such cases, it is extremely important to know and truly realize how big loan you can afford and at what rate. Be sincere to yourself at least - if you lie to yourself, you can just lose your property.

Home equity flipping:

Home equity flipping occurs when a lender is trying to convince you flip your current loan, whether you currently have more convenient conditions or not, just for their own benefit (keep in mind that the lenders earn on all your transactions). Just do not let them persuade you that repeated refinancing is good for you. If you actually are well informed about your situation, it is a big plus. Make sure to read all the documents you get and use your head. When in doubt, talk to someone who is informed enough. Just ask for an advice if you need one.

Part 1: Real Estate Scam

2010-02-28T07:40:00.003-05:00

Real estate fraud is a quite usual thing. Lately, it has been gaining popularity. I'm pretty sure the vast majority of you have heard about that already. Still, I want to briefly summarize some of its types for you.

Foreclosure scam

Picture a situation that you have just purchased a new property, which you are really excited about. On the other hand, though, you have debt and big problems with paying it off. You might become kind of hopeless and thus ready for any help. Out of sudden, someone representing themselves as a mortgage consultant comes to your life, seemingly prepared to save the situation. They persuade you - the desperate homeowner in need, to transfer the ownership to them. From now on, your monthly mortgage payments will go straight to them. In spite of the ownership transfer to the "consultant", you still owe the monthly money to the institution lending you.

Mortgage Fraud

This is different than the foreclosure scam. It is a criminal act which aims to misrepresent personal info to be able to qualify for a mortgage loan. It involves identity theft, employment fraud, shot gunning, fraud for profit, income fraud, cash-back schemes, occupancy fraud or failure to disclose liabilities.

In identity theft, the scammer claims to be someone else (of course, without consent of this person) a uses their fake identity to obtain a loan, which they never pay off.

A situation when someone is officially borrowing for their primary place of stay, but actually use it for investing while occupying another residence, is called occupancy fraud.

Shotgunning occurs when numerous mortgage loans are obtained for the very same property, greatly exceeding its value.

Employment fraud is when a scammer claims to be in a higher position as they actually are, or they claim to own or to be self-employment in a non-existent company/institution just to prove they will be able to pay off their loan.

Income fraud is when a borrower lies about their income, claims to earn a lot more than they do in reality to be able to get a bigger loan.

Failure to disclose liabilities occurs when borrowers hide credit card debt or mortgage loans on other properties to decrease the monthly debt on the loan application.

Cash-back scheme means that a price of a home is significantly exaggerated (not in a legal way) to provide cash-back to the borrower or other transaction participants.

When the price of the home is understated or overstated on purpose, appraisal fraud occurs. To either get a bigger loan or to get a lower price on a foreclosed property.

Fraud for profit occurs when a group of people that cheats for financial gain. It also involves overstating the value of the house or condo.

This is just the first article from my real estate scam series. I am going to continue soon. Just leave a comment in case you are willing to share your experience with real estate fraud, I will be glad.

The State of Canadian Market

2010-02-13T17:50:00.003-05:00

Have you seen the latest Capital Points report by the Scotiabank group? As most of the times, it sumarizes up to date info about various sectors of Canadian economy, showing that on interesting charts, and even more. There's also a comparison of the economy of Canada to that of the US and couple of other countries. So what is the current state and what are some of the expectations according to Scotiabank group? Continue reading to find it out.

The recent state (many of these issues were mentioned in my posts already):

Housing

-the number of unsold new single homes in our country decreased and is now at prerecession levels

-as the interest rates are very low, there is increasing demand for houses

-residential building permits and housing starts in last few weeks improved

-there was an approximately 20 percent in residential permits during the last two months of 2009

Import/Export

-there was a big improvement in Asian import demand

-the leader in import among Asian states is China

-even though the share of Canadian exports to China is not exactly great, but as China says, imports from Canada grew by estimated 20 percent in the last month of 2009 Employment

-in January, 43,000 jobs were created in Canada

-there were 109,000 job gains in our country since April 2009

-during the past six months, 138,000 jobs have been created

-there was growth in total hours worked in 2009, although, if compared to the US, the pace was not very fast

-average hourly wages increased by 1.8 percent from 2008 to 2009, the slowest rise since June 2003

Predictions:

-big increases in housing starts

-growth in new home prices

-improvement of the job market

-improvement in housing construction

-moderate narrowing in the deficit on higher commodity prices

-January housing starts at the level of about 184,000, which is a 3.5% gain from a month before

As mentioned, my short posts did include many of these data, but having them summed up with some new info is great anyway, I think. My article however is just a short review and for all the data about Canada and other states, including graphs you should certainly read the original, 20 pages long report.

2009 Housing in Canada

2010-02-06T09:53:00.002-05:00

A new Canada Mortgage and Housing Corporation report about the 2009 housing situation just came out. You should check it out, it is quite in-depth and interesting. No real surprises if you regularly check the situation, but it is nice to see all the exact data summarized.

Here are the key figures from the report:

•The seasonally adjusted annual rate of housing starts in December increased by 5.8 percent from November up to 177,800 units. The November level was 168,000 units. As a matter of fact, the number of housing starts was at its highest montly level since October 2008 in December.

•Urban single and multiple starts also rose in December. From November, the seasonally adjusted annual rate of urban starts increased by 6.6 percent to 157,200. Urban single starts rose to 79,400 units, by 6.4 percent. And the rise of urban multiple starts was 6.9 percent to 77,800 units.

•Only in the Prairies the seasonally adjusted annual rate of urban starts did not rise in December. There, urban starts actually decreased by 3.8 percent to 30,600 units. Actual new listings for 2009 also declined, by 12.6 percent compared to 2008.

•The "sales to new listings" ratio for our country was at the level of 66 percent in December and has therefore stayed in the sellers' market territory. In 2009 overall, this ratio was 59 percent.

•As for the seasonally adjusted average MLS price in our country, it rose by 0.9 percent to $345,335 in December. A month before, it was $342,287. The MLS price rose by 5 percent in 2009 compared to 2008.

•2,600 positions were lost in December. Total employment in 2009 in Canada decreased by 1.6 percent, which is 276,900 jobs, from 2008. Thus for the first time in 17 years, the annual employment growth in Canada was been positive.

•In December, the unemployment rate was 8.5 percent. 200 part-time jobs and 2,400 fulltime jobs were shed. Decrease by 16,600, the biggest one, was in Ontario.

•Actual urban starts in 2009 declined by 30.4 percent from 2008. Urban single starts for 2009 decreased by 18.7 percent and urban multiple starts by 38.2 percent from 2008.

•Starts in rural and urban areas went down by about 29.4 percent in 2009 in comparison with 2008. For the first time in eight years, housing starts in 2009, went below 200,000 units. Here in Ontario, total starts decreased by 32.9 percent.

•There also was a decline in New Housing Price Index - 1.4 percent from November 2008.

•In December, the seasonally adjusted annual rate of MLS grew by 2 percent in December, to 561,660 units. In 2009, existing home sales in Canada in 2009 increased by 7.7 percent from 2008. The seasonally adjusted annual rate of MLS new listings grew by 4.7 percent to 854,412 units in December. The seasonally adjusted average MLS price in Ontario was $341,810 in December 2009.

Couple of declines, and the really bad employment situation in Ontario upsets me. Still, nice to see it all summarized. What's your opinion? Do you find the results surprising? What do you expect this year?

Virtual networks and real estate

2010-01-29T15:11:00.000-05:00

A short time ago someone I know said to me "If you are not on Facebook, you fundamentally don't even exist." I am now beginning to believe those who say it. Social network sites give you an awarenes into what your friends and work mates are doing. It is just about unachievable to keep in communication otherwise.

Still, staying informed about the life of your friends and acquaintances surely is not the only purpose of such websites. Another point of social websites is promoting yourself and bringing in business especially if you are a real estate agent. The times when a billboard or a little advertisement in a newspaper was enough for propagation of one's work or business are long disappeared and they will not come back. The way to the future is now the internet and computers. On-line, (what a coincidence) you can come across lots of articles with instructions and working tips on how to use the phenomenon of social networking.

For older people who were not brought up with computers, it's tough to get used to operating computers and to find their way round websites. Youngsters go on computers from a young age, so are fluent with them, while we, from the older generation, are taking a while to work things out. Regardless of the issue we still have a go. Those ideas, I venture, are not just felt by me, but by many realtors out there.

After working all day its not surprising we come home tired, so it's hard to sum up the energy to find interesting things to talk about on blogs or make posts on social websites such as facebook and twitter. Our daily routine now involves just that sort of input. Settling down now means going on-line to get our social networking chore done. Is there members of the public out there that are fascinated in our posts? Do people, other than fellow realtors, actually look at the articles we write? I think we will never know for sure, will we?

Personally because the reports are of interest to me, I do peruse and look at the websites of my fellow real estate associates. But who knows whether their features also attract ordinary people (I don't mean this in a negative way, of course), the job of whom is not involved with real estate at all. By reading colleagues blogs and posts, it doesn't matter how often I get together with them, I am always up to date with their lives. So I may not have spoken to someone for a long time, but I can honestly say I have learnt alot about them, and this is thanks to social networking. What a awesome thing social networking is.

In my professional life I sell Toronto condos, and I consider social networking to be one of the key ways of success. Hopefully this short article was of any help for you!

Global Property Market Recovering

2010-01-20T13:42:00.003-05:00

The world housing market is continuing in its recovery, the newest Global Real Estate Trends report by Scotia Economics claims. Canadian market is in a good condition and in couple of other states, signs of recovery of the real estate market are visible too.

In 2009, the approximate number of MLS home sales 465,000 - increase of seven percent from a year before. The number of new homes last year, however, decreased from 2008. It was approximately 146,000 in 2009 and 211,000 in 2008. There was an increase in home prices, though - up to $315,000 over the year.

Canada is actually the leader in the property price increases. In the third quarter of 2009, average home prices rose by 11 percent. "Canada still leads the pack among the markets we track. " Adrienne Warren, Senior Economist of Scotia Economics said. "Inflation-adjusted average home prices in the July to September period were up 11 percent from the same quarter a year ago, a dramatic turnaround from the 10 percent yearly decline recorded in the opening months of 2009. " Warren further noted. There is no need to be worried about the rising prices in the country, according to Scotia Economics, though. As they claim, prices in the country rose mainly due to basic demand-supply factors and they should stabilize in the near future.

In Australia, the average home prices are in positive territory again, as they increased by 5 percent from third quarter of 2008 to third quarter of 2009. However, in the US, average home prices decreased by 6 percent in the third quarter of 2009 from the same period in 2008. That still is a pretty good result, if we consider that there was a fourteen percent decline in first quarter of 2009 from the year before. In European countries it's diverse: the situation in the UK is almost like the situation in the US. And in France we can see stabilizing of prices. "A shortage of homes for sale, alongside strengthening housing demand, is contributing to the firming in prices in a number of countries, including Canada, Australia and the UK." said Warren.

Good, good. Expected, too, after all the recent positive news about economic recovery. Great to hear once again that Canada belongs to countries doing just fine. If we compare our results with those of the US, we are pretty good. And frankly, I do feel quite proud.

Property Investment Remain Popular in Canada

2010-01-13T15:05:00.001-05:00

With the start of new year, more Canadians are primarily focusing on paying down their debts, a poll conducted for Manulife Financial in December 2009 claims. This outcome came after three quarters of increases of interest in investment.

The priority to pay down debts has gotten to its highest level in 5 years in December. Taking care of their consumer credit is now the main priority of 28 percent of 1000 polled Canadians. It was 20 percent two years ago and 24 percent last year. Paying down one's own mortgage is the second top priority. 14 percent of respondents share this opinion, in comparison with 11 percent from a year ago. The thrid most common answer of Canadians was that they are saving for retirement, 11 percent of Canadians are of this opinion - last year it was 14 percent.

Concerning overall financial state of Canadians, 46 percent of respondents think their financial situation is better now than it was 5 years ago. Last year, the number of Canadians who share this view was 5 percent higher and it was 14 percent higher two years ago. 28 percent of polled Canadians believe that their financial situation 5 years back was just the same as it is today, and 25 percent of Canadians consider their current situation to be worse than it was in late 2004.

As for Manulife Sentiment Index, after three quarterly gains in a row, it has decreased in December from 3 months earlier by 7 points to +18. The main focus of the index are the feelings of Canadians about investing in few categories.

It is mainly based on these categories:

-Investing in their homes is the top choice of Canadians. Still, in December 2009, the index for investing in property has declined by 5 points, to +52.
-Investment in real estate decreased by 13 points in December, after quite a few gains this year. Its level, +27 is still higher than it was last year, when it actually went to the negative territory.
-The current level of balanced funds is +16, and they increased by 2 points.
-Cash and fixed income investments decreased by 8 points to + 10 in December.
-The current level of equities is -5, as they have decreased by 6 points.

I'm quite pleased to see Canadians still find investing in their homes this important. And it is also great to know that our country has responsible citizens, the top priority of whom is paying their debt. I'm quite curious whether the repeated warnings by the Bank of Canada's representatives has influenced it somehow.

What will the June G20 summit in Toronto mean for the city?

2009-12-17T11:55:00.004-05:00

Toronto will host a huge event on June 26th and 27th. As our Prime Minister Stephen harper announced during his stay in South Korea, the G20 summit is going to be moved to Toronto instead of originally planned Huntsville area.

What implication will this fact have for Toronto and its citizens?

Firstly, Toronto will become the top place of the world for two days, due to the visit of 20 of the top world leaders. The most popular of them is the US president and Nobel Peace Prize winner, Barack Obama. Except for the important political personalities, many officials and journalists from the US, EU member states, India or China will come to Toronto. As said by Mayor David Miller, the even will positively influence the city's growing reputation worldwide.

Additionally, as the president of the Greater Toronto Hotel Association, Terry Mundel, said, the event will surely have good economic implications for Toronto. Approximately 10, 000 hotel rooms will be needed for more than 30 international delegations. As said by Mundel, the expected revenues for accommodation make up to about $17 millions. If we count food, drinks and basic entertainment, it sure is a nice sum of money. The pubs and restaurants in Toronto will certainly have a lot of customers during the event.

A noteworthy question definitely is that of security, too. In the words of Toronto police spokesman, Mark Pugash, all the aspects that anyone would await as being part of a global event are being worked on, and have been worked on for some period. Mayor Miller is thus convinced everything will go extremely smoothly. Undoubtedly, helicopters, closed roads, police cars and policemen will be present everywhere, but Miller believes the citizens will be understanding. Don't forget about the restrictions during the summit. Going and and to for example tour open houses will be almost impossible during that period.

Interestingly, the summit is not the only event to take place in Toronto in late June. Toronto Jazz festival is starting during the last weekend of June too. Let's hope the Toronto police don't mistake Jazz lovers for globalization protesters.

Canadian First Time Home-Buyers Tax Credit: Never a Humorous Matter

2009-11-22T15:21:00.002-05:00

First Time Home-Buyers Tax Credit was one of the governments action incentives to help with the property decline. Unfortunately this incentive doesn't seem to be a blessing next to the USA tax plan, as well as coming off as a bit of a joke. So do we find it just one massive laugh?
First, let’s examine the two tax credits. The Canadian First-Time Homebuyer’s Tax Incentive, presented by the Federal government, is formed on a $5,000 deductible. Multiplied by the lowest income tax rate (15%), it tots up to a net $750 credit for anybody who intends to buy a housing unit in Canada and didn’t own property during the last four years.

On the other hand, the American tax incentive can be as big as 10% of the real estate's value, to a maximum of $8,000. In the US the incentive is taken from the buyer's income tax (owing) whereby in Canada it's deducted from the tax base. The tax credit incentive is cashed back to the new house owner if tax owed by them doesn't top the $8,000. Whereas in Canada a person can't have owned a house for the 4 years before, in the US this is only 3.

While the Canadian real estate market rebound is credited by specialists generally to the Bank of Canada interest rate cut, the (still quite shaky) recovery of the American market was indeed fueled by their gigantic tax credit. The American plan decreased the pressure of finding a down payment for a property and paved the way for first time buyers to get on the property ladder. The question of whether the Canadian economic action plan shouldn’t take the tax credit more intently comes normally, but the answer is more complicated.

In the first instance, there is a question of requirement. Whilst both Canada and the US have both been in recession there has been a marked difference in the consequences of it. The Canadian market bounced back within a few months with the main losers being housing investors and estate agents; but the Americans have seen the slump hit home owners with a flood of short sales and forclosures.

Looking at the fiscal situation we also see a difference. With around 1.5 million taxpayers claiming the aid, the US federal government has lost around $10 billion in tax revenues so far, adding more weight to the already tremendous budget deficit.

To read the rest, please look at our original article "Is the First Time Home-Buyers Tax Credit Really as Good as It Sounds?" Thank you.

Image: Credits to leadenhall.

The Forecast for Canadian Interest Rates Looks Good

2009-11-17T06:56:00.003-05:00

The current level of interest rates is to remain at 0.25% after the last rate disclosure in October by the Bank of Canada. Many experts concur with the Bank of Canada's announcement.

The figure has been kept at record lows for half a year now and the Bank wants to keep it static at least till June 2010. As any real estate agent would tell you, one of the main factors in the property market improvement and continued prosperity in that area are these low interest rates.

Unfortunately there is always a few that clamour for interest rate hikes. Due to large economic growth in certain areas many individuals are being very cautious. Quite a few feel the best way to stop the bubble before it bursts is to increase interest rates. Taking this into account, even with higher prices in the real estate market and faster turnover, the experts still agree that the Bank of Canada has made the proper decision.

The most substantial reason is the confirmed growth of the GDP, which doesn’t seem to be following the BoC forecast of a 2% rise in the third quarter of 2009 (August growth was -0.1%). One of the other aspects concern the domestic industry which is still noticing very high levels of trade deficit and therefore a slower return to normal.

Also, financial pointers don’t demonstrate any signs of growing leverage (the risky use of debt to raise return on investments). Inflation is close to -1%, leaving all fears behind for the present. The other consideration, is all this is the real estate market, which doesn't seemed to have crashed as predicted. Real Estate prices are increasing nicely with a good supply on offer on realtors books. With the real estate downturn last winter there was an excess of properties which are now selling, as the demand is bigger so the prices rise.

Although there are never any guarantees it is fairly positive that the BoC will fulfil its pledge to keep the interest rates low for a good few months yet. At least now the home buyer can feel confident in purchasing their new property.
(Image source)

Canada's Economic Action Plan: Real Estate

2009-10-25T18:36:00.003-04:00

With the economic slowdown internationally many countries as well as Canada have special policies to help with this. The Economic Action Plan is the name of these special policies in Canada. With 90% of the resources of the fiscal year 2009-2010 being implemented, it is time to have a closer look at it, spotlighting on the Canadian housing sector.

The Canadian economy is being supported with fiscal stimulus by the projects within the Economic Action Plan. The Gross Domestic Income (GDI/GDP) in Canada is at over 4%, due to the stimulus package, higher than the USA and one of the largest worldwide.

Ways to reduce Canada's Tax Burden

Possibly the most substantial part of the Plan is tax cutting. The tax lowering lures related to the property market are: - Home improvement tax credit: $2.5 billion (for the year 2009-2010). - Increase in Home Buyers’ Plan withdrawal limitation: $15 million. - $175 million allocated for First-time Real Estate Buyers' Tax Credit.

Millions of Canadians have profited from these tax reduction lures already. Since earlier in the year, whilst not the most conspicuous, the First-time House Buyer's Tax Credit helped energize a very quick property rebound all over Canada. Real Estate owners making use of the property renovation credit have noticed their positions strengthened when coming to sell their homes, along with a rise in the market value of the property.

Provoke housing development

In spite of the fact that some realtors specializing in resale real estate are not too inspired about new construction, in the long term it is definitely crucial for a healthy real estate environment and also for real estate agents themselves. Including the tax relief mentioned already to boost and encourage the construction industry and private property ownership, direct spending on construction has further added encouragement which benefits the whole economy.

The action plan has watched over 4,000 projects in the property market begin with a further 3,000 planned. These also involve around 300 social housing projects, which have funds of about $1.025 billion in the fiscal year 2009-2010.

There is nearly $10 billion budgeted for this area alone. Realtors are finding these moves interesting due to the property market impact. In one of our recent articles MoveOntario2020 we talked about the details on how infrastructure projects alter values of properties in their vicinity. Social housing broadens the supply of homes and alters both the resale and rental market, introducing more affordable housing for low income social groups.

The closeness of projects is something that some realtors find vital, when their business is directly affected by these sort of neighbourhoods. However, there is also more international impact on the labor market – construction projects support thousands of jobs and improve the financial situation of the workers, thus raising their ability to finance their own homes.

How effective is this action plan?

Canada's economy has seen the property market become it's driving force, hence it being one of the first areas that have seen a rebound in the current downturn. The monetary policy has been one of the driving forces behind the upward turn of the housing market so state realtors. Still, fiscal boosts plays its own part. Although the plan is very steep we can say it has a positive effect on the real estate sector and we know that a flourishing real estate market is an implication of a healthy national economy.

How to Run a Garage Sale and Succeed

2009-10-18T16:46:00.003-04:00

Garage sales take careful planning if you want a successful, stress free event. Let’s start by looking at the preparation to be done: Start off by choosing whether you want to hold it by yourself or join forces with someone else. The date and time are critical factors and you need to check your neighbours have no problems as well as any official rules surrounding garage sales in your neighbourhood.

Any goods you are selling need to be clean and in decent condition. Label goods such as clothing with the size and box goods such as books, with their titles exhibited. Any sharp items such as knives need to be secured carefully. Clear price stickers and incentive offers such as 'buy one get one free' all assist with sales. Last but not least, find tables to display your items and chairs for your buyers to rest on. Goods such as clothes hangers to show clothing to its best advantage are a brilliant idea as well as packaging so you buyers can take the items home. Make sure you obtain a decent amount of change in coins and notes. If you are not going to box up any left over goods then ask a charity shop to collect them.

Then you need to think about promotion. Free and attractive garage sale signs are offered for customers by some real estate companies. As the signs are the first thing your buyers will see, by choosing these attractive signs your sale starts off with a polished feel. Find out if your local paper offers cheap or free ads and place posters up in the church, school and local shops. Provide as much information you can, ranging from the times and directions to a summary of goods for sale.

Empty the area of sale of any bits and pieces not for sale and make sure its clean and tidy. To stop yourself being run ragged ask friends and family to help on the day. On the day of the sale if you haven’t put out your tables and chairs then this is the first thing you should do. Allot a rest area where you will be providing drinks, an empty trash can nearby is also a good idea. Directional signs along the route to your home from the main street need to be set in place. Appoint someone to deal with paying purchasers and packaging their goods. Some buyers will want to bargain with prices, so make sure your helpers are aware of your views on this.

Make the area attractive, alluring and obstacle free. Spare batteries and access to an electrical socket are a must to confirm your items work. Show your items appealingly and try to separate them into groups such as household, clothing or gardening. People driving or walking by can be encouraged to stop by Exhibiting your most appealing products nearer your property entrance. It has been known for purchasers to try and return merchandise days later, therefore erect a sign that says 'all sales are final'.

Early arrivals are an inevitable problem when you host a attic sale. Be polite, welcoming and engaging with all your customers and be predisposed to negotiate on the prices. At the designated ending time ask last minute stragglers to politely depart as you are clearing up and packing away any of those unsold goods. Put away tables and chairs and clean up any garbage left lying around also pick up the direction signs. It's officially completed and now you can wind down. Tally up your money while drinking that well earned coffee and deliberate on what you are going to do with it.

Garage sale signs and a more detailed tips can be found at our main site.

Restaurant Reviews: Regal Heights Bistro (Toronto)

2009-10-15T09:43:00.002-04:00

The windshield wipers of our car are attempting to slap away the pouring rain that's turned this part of Corso Italia into a place full of gravel and muck, as we make our way towards the Regal Heights Bistro on St. Clair, just east of Dufferin. The streetcar track/road improvement project on St. Clair Avenue West is still not finished, limiting the traffic to one lane. Fortunately the bad weather seems to have kept traffic light, and we're able to park just across the street from the restaurant. First we have to cross the no-man's-land of cracked pavement and orange cones, and then I can finally look at the building where I think the Regal Heights Bistro is housed. "There's no sign, there used to be a big sign, and it looks like a pub inside," I observe uneasily. "I hope this is still the right place." "Yep – Regal Heights Bistro," my partner confirms, pointing at a little hand-lettered sign inside the front window, and we see the trademark Jazz Brunch sign as well.

No sooner do we cross the threshold than a hostess is waiting to seat us, offering a choice of any table we want. At eight fifteen, most patrons are sitting near the bar, with the whole restaurant being about a third full. "Are you here for the fist time? The original sign blew down, and the new one we put out on a chalkboard was washed away by the rain." "Today you are in for a treat, we have a birthday celebration and a jazz band, it will be fun!" She reassures us that this is indeed the place we were looking for - though the interior looks more like in a pub than in an upscale bistro, and we can smell French fries in the air. Next we focus on our menus - a two-sided thing that quite disappoints my partner.

"They must've changed their menu," he remarks with a sad face. Maybe as an elitist jazz musician himself, he is just unhappy about the prospect of a live band. The name of the restaurant is written on the top of the menu. I check it again and again, just to make certain we are in the right place. Although I could find no website for the Bistro, and valuable little online information other than bare-bones positive reviews, I did dig up some posted menus: and these presented dishes like caprese salad, provencale escargots, chicken liver pate, smoked salmon crepes and black squid ink linguine. I don't need a menu to tell me that no homemade black squid ink linguine is coming out of this place. The actual offerings consist of normal pub food, perhaps gussied up a bit by special flavors and toppings, but pub food still.

Our hostess comes back to note our order and I note that the menus are very different from what we found online – what happened? Different ownership? "Oh no, same ownership," she assures us. "We haven't done anything on the website in a long time. Our menu has been this way for the last couple of years, we've just gone through a lot of different chefs. Our focus is always on fresh food; we shop every day, we cut our own meat, we make our own burgers, there’s no microwaves…we just want to have more of a casual dining feel." Although the whole pub is definitely casual, including the paper napkins, when I look at the wall signage from around the world, I would still expect a bit more sophisticated menu.

Our hostess smiles: "We shrink from that gastro-pub term," and puts us at her ease with a charming, friendly manner.

See the rest of the story at our original restaurant review

Appraisals: Quince Restaurant (Toronto)

2009-10-14T10:43:00.002-04:00

Quince is one of the Toronto must-try places - a Mediterranean-inspired bistro with reasonable prices and fresh, innovative flavors. It has been evaluated as extraordinary by the Eye Magazine and after getting some mixed reviews from Toronto Life, also one of the Toronto's Best New Restaurants of 2007. The founders of Quince are Jennifer Gittins and Michael van den Winkel, a husband and wife formerly known from the high-valued Stork on the Roof. Their new place, opened in fall of 2006, is located just a few blocks south of the busy intersection at Yonge and Eglinton.

Enclosed by a pretty patio graced with teak furniture and plenty of cushions in bright, primary colors, Quince is directly across the street from the abandoned hulk that was once Cheaters, an infamous nudie bar. Only two doors down, we can find the famous place Coquine and a neon sign saying "Adult Video & Novelties" - I bet you wouldn't expect this in a region famous for its blossoming business district and parks popular for families. But in the last twenty-five years, there has always been an eclectic mix of shops on this part of Yonge Street between Eglinton and Davisville. Clothing shops, bead and paper shops, home decor, but also adult venues - all this can be found around here.

Just at the door at Quince's, we are warmly welcomed by a hostess and offered a spot near the bar on one of the low, cushioned banquettes. Even though it's a Saturday evening and we are in this lively neighborhood, we can still choose a table, pleading excessive height. “What’s downstairs?” I ask. We get a reply from our hostess: "Oh, that's our private dining room." It is available for lunches and dinners and it has its own bar and lounge, all elegantly decorated (although the tile floor will tell you it's located in the basement). Tonight it's off limits to couples, being available for corporate or private groups of maximum 40 people or cocktail receptions of 70 people at most. For these events, the staff offers you a menu along with matching wines, so that you don't have to care about all the details yourself.

Our waiter is approaching with a brief list of specials, just a moment after we have picked our table. I want to say a brief list of specials consisting of a long explanation of ingredients and preparation methods, and how the meals go together. We can see that the waiter is apparently an expert, he doesn't even need to refer to his notebook as he explains us what is garnish vs. a side dish. The waiter could be best described as personable, friendly and efficient. Left alone to ponder if a whole sea bream (“Most people choose a side with it, it’s just the fish,” our waiter cautions apologetically) is a good idea, we take a look around. I notice the cleverly designed lighting that enhances the whole space of the dining room and adds lovely warmth to it. The space seems to be noticeably large but still somewhat intimate at the same time. The volume level is very comfortable too – despite almost all the tables around us being full, we can easily hear each other and the background music (think D’Angelo and Stevie Wonder). The interior is decorated with modern art in earthy colors, gracing the loft-style brick walls and adding balance to the exposed ductwork, painted in chocolate brown to ease off all traces of sterility. Amazing for voyeurs, a semi-open kitchen offers a glimpse of the wood-fired oven behind the bar.

If you want to see the rest of our review, see the original article, thank you.

How to Keep the Temperature in Your Home within Pleasant Limits in the Hot Months

2009-09-28T14:30:00.002-04:00

Is your icebox one of the most often visited places in your home during the summer time? Is your house so unpleasantly hot that you dream you lived in Iceland? Millions of homeowners in Toronto and elsewhere are impacted by this problem every summer. We are bringing you some advice on how to get ready for the next hot summer.

The easiest option: Air-conditioners

The internal temperature of our houses can be decreased by more ways, let's take a short look at them. The most effective, but most expensive, is the well-known air-conditioner. If you want to get the best value possible from your AC unit, there are several tips to follow - of course if you decide to go this way. First, pick a machine of the correct size according to the size of your house or condo. If you have a common family home with two bedrooms, look for units with around 5,000 btu - that should be enough. Ideally, the unit should be placed in a window on the wall that faces north, if that is possible. This will ensure optimum conditions for the unit which will allow it to operate more efficiently. Clean the internal filters at least once a month to prevent house dust from building up and having a negative effect on its operation. If you know you won't be home for more than an hour, just turn the AC off and then after your return re-cool the rooms, this way it is more economical.

Solutions for green-thinking customers

But what to do if you think more eco-friendly and don't want to use precious energy for these power-hungry machines? Well, there are more ways to decrease the internal temperature without adding to global warming by excessive and unnecessary use of CO2 producing fossil fuels. We will begin with the top of your house and go downwards step by step.

Roof

As you might already know, the amount of heat transferred depends on the sort of material it goes through. Tiles, shingles or other sorts of roofing materials are a perfect example of this. If you wish to save on air-conditioning, think about applying a good-quality insulation to your attic space. A 12-inch layer instead of a 3-inch might reduce the cooling costs by as much as 10 percent.

To read the rest of the story, please follow the Keeping your Toronto home cool article.

Photo by jon starbuck

The Stockyards Review: The Stockyards Smokehouse & Larder

2009-09-22T13:42:00.002-04:00

The Stockyards is a new kid on the block that's surprisingly been voted Toronto's Best Barbecue by NOW Magazine, scoring a perfect 5 out of 5 n's. When you hear about new barbecue's your first thought is to be wary. I'm no different especially as I make great barbecues myself. Cluck, Grunt n' Low at Bloor and Walmer had the greatest southern food and barbecue I've ever sampled, and they're out of business, while some of the pulled pork offerings I've had lately tasted like sawdust coated in sauce. Poor quality barbecues seems to be normal in these places. Coating a thick smokey, sweet sauce over anything can hide the worst cooks mishaps. So I'm already a doubter, but definitely up for some good greasy meat, when I seize three friends and head to the Stockyards.

We go to St Clair West subway station and take the bus west, just following the stop that lets you off at the Artscape Wychwood Barns - a multi-purpose enterprise combining artists' lofts with a greenhouse, historical museum and gallery space, typical of the upswing of this area. The neighborhood is a bit destitute at the moment, but a Starbucks on the corner demonstrates that the St Clair strip is up and coming.

The place is very busy and we are squished tightly next to people consuming barbecue from paper-lined cast iron pans. The noise of a busy restaurant is awesome. The telephone never seems to stop ringing, customers talking, the cooks shouting orders and instructions to each other. The amount of people waiting to eat, eating, waiting to pay is outstanding. As there were four of us, none of us thought our chances of getting seats together were likely until a woman sitting at the counter grasps hold of me.

It is a friend of mine whom I haven't seen in years called Gail. "All the people I work together swear by this place," she says. I notice that she hasn't any food to which she answers that she is a vegetarian. Vegetarian choices are only available as side orders on the menu. Gail says she won't consume the chips because they are prepared in lard. Another thing that is not vegetarian accommodating is the rib night which is done three times a week. It's good to have an adviser because the restaurant has a frenzied feel, though there's method to the madness as the staff brown-box boundless take out orders to accommodate the herds.

When a vacant space opens up at the massive counter, directly across from the cooks, we nab it and put in our orders, then go to the front to pay. Stockyards has a wait-service and takeout which is re-mindful of a large burger chain. As it was busy I have to admit we overlooked the need to tip. We get our own drinks from the fridge; my friend has a homemade lime-ade infused with mint that she pronounces 'delicious' ($2.75) Fortunately none of us are drinkers, as The Stockyards doesn't yet have a liquor license four months into opening.

"Is it always this lively, even from day one?" My friend asked a man. The man introduces himself as Tom Davis, the proprietor. He is a very solicitous, energetic and frank kind of person, who said that it had.

For the rest of the Stockyards Smokehouse & Larder review, please visit our main website.

Photo source: Sifu Renka

Calmer times arrived to Toronto real estate market in August

2009-09-21T08:01:00.000-04:00

For many of us, August means a time for holidays and relaxation to calm down your nerves after the hectic times before. This is also what has been going on concerning the housing market - the rapid growth from June and July has now ended and things are calming down, moving towards a more healthy and stabilized environment. Compared to August last year, all the indicators are showing much better results now, however lower than during the few months before.

Tom Lebour, the TREB President, points out the demand has increased across all housing types and also price ranges. The market is now very active, which is reflected by the days on market and active listings indicators both dropping. For a more detailed analysis, please follow our Toronto real estate market article.

What are you scouting for? A house or Condo (second part)

2009-09-03T17:13:00.002-04:00

In our first text of this series, we have focused on the profile of a typical condo purchaser. The features of a typical house owner will be the concern of our today's article.

Susie likes living in a house.

Having a personal space is one of the things Susie likes the most. She left communal housing behind in college and hasn’t looked back – who wants to be separated from their neighbours by just a single wall? Susie just wants to have her privacy and enough space, and she doesn't mind having to spend some more time for commuting to work. Also shopping has to be done weekly, but it is no problem for her to take her SUV to the supermarket and fill it up. Her two kids are what Susie values the most, and she wishes to have a safe yard for them to be able to run and play around, just the way she did during her own childhood. Susie and her family also live in a neighbourhood where they know the other families nearby which is really useful, because there is always someone at hand to give advice about the best babysitters, school sports or the new off-leash park. And also Susie's family may still grow in the future (although they still haven't really planned it yet with her husband Stuart), they might decide to have another baby or maybe Stuart's mom may need help and move in with them. Therefore they definitely need enough space for the family to expand. Also the family members have different hobbies - Stuart works on his vintage car in the garage and their daughter Jenny plays the drums, which would be impossible to do in an apartment - it is loud enough in the basement, so Susie is thinking about getting it soundproofed and putting in a bathroom, then they would have a great teen retreat. On weekends, Susie loves to tool around in her garden, which is really her pride and joy – there’s nothing like picking fresh vegetables for a salad while Stuart fires up the grill. Susie and Stuart also consider very important the fact that they legally own the land they live on. Well, if the roof leaks (as it did last year after all those storms), it's still their own roof and they had some money for such emergencies saved aside. Occasional house reparations just come with the territory. Susie and Stuart don’t mind staying on top of the maintenance work, because they each have their own tasks and responsibilities (Susie cuts the grass and Stuart takes the recycling to the curb). As far as safety is concerned, Susie believes that their new system will keep the burglars out of their house. And also there is a residents' association that keeps an eye on what's going on in the neighbourhood. She is just happy in their secure neighborhood and wants to stay there long-time and put down roots.

So now which one of our two profiles felt closer to you - Hari or Susie? None of them? Well, in that case you might like to consider living in a condo town house, which has some benefits of both a condo and a house.

Final advice If you decide to purchase a house, then we recommend that your mortgage combined with all property taxes shouldn't eat up more than 25 per cent of your monthly income, just to make sure you have enough money left for any necessary up keeping. First try to estimate the necessary up keeping expenses and also to what extent you are able to keep up with the repairs needed, as all the responsibility (from a leaky faucet to a flooded basement) will be just upon you. And how much will be your expenses for transportation? Don't forget about these, as it is important to be considered, mainly when moving to a suburb. Always ask for a new home inspection and examine it in detail, so that you won't come across any ugly surprises that would ruin your carefully planned budget. For example, a fixer-upper with an ancient furnace, old wiring and insufficient insulation will demand a more or less immediate cash infusion just to make the house livable.

Photo Source: sssteve.o

Condominium Or House: The Tough Decision

2009-09-02T09:18:00.004-04:00

Deciding between the choices of a House or a Apartment Specifically for first time purchasers, this can be a hard question because each choice has its advantages and disadvantages. To help you decide what’s best for you, we’ve assembled profiles of the ‘typical’ happy condo and happy home owner. Both options will help give you an vision of what works for you even if they don't match your circumstances exactly. This first report looks at a apartment buyer.

Hari needs a apartment.

Hari left home and sub let an apartment. He is a professional who is always on the go. Many of his friends still lease, but some have gotten into lasting relationships which led to bigger apartments and even homeownership for them. Suddenly, Hari’s single person pad feels a little closed in and sterile (as his mother always points out). He is now looking to the future. A more spacious place, one that he can call home. A place he can entertain, decorate and buy some furniture for. Hari works drawn out hours at the office, so it’s important for him to minimize the commute and the time spent running jobs, shopping, picking up healthy take-out, grabbing his dry cleaning, and going out for fun. Hari's hobbies do not require a lot of room, so room is not something that he needs. He also doesn't like the idea of the upkeep and money needed to maintain masses of room. In the space department, Hari only really wants closet space and a nice large wall for his flat-screen TV. Simple, sleek with new accessories are the main aims. Caring for an outdoor area is not something he desires to do. He needs a apartment that has all inclusive services so if something goes askew its fixed and at no extra charge. Hari gets on well with other people but he’s not all about making lifelong bonds with his neighbours; he’s fine keeping to himself. A bit of noise isn't an issue. But he draws the line at personal protection – that’s why he really likes knowing that the apartment building he’s considering is patrolled and monitored 24 hours a day. When it comes to taking care of himself, Hari cares about fitness, so it’s great that the building has state of the art training facilities and a nice pool – there’s a savings on his gym membership right there, because the monthly apartment fees cover all the resources! Looking to the future, a parking space would increase investment profit to the property. Hari doesn’t plan to be in his apartment evermore, after all. Who knows what the future holds? For someone in this situation now, the benefits of apartment life make sense.

If you determined that a apartment could be a better fit, never let the monthly apartment fees, combined with property taxes, mortgage and insurance, outstrip 30% of your monthly income. Always look at the fiscal health of the Homeowners Association (HOA) to see if the monthly apartment fees actually cover pricey repairs to the building, or whether residents have to pay an additional premium every so often (this depends on the health of the reserve fund, which your real estate lawyer can examine for you, as well as the apartment by-laws; sometimes, for grave or unexpected repairs, plans are made for special assessments to cover these costs). What is made available in your fees? If there are extra amenities included do you really want them? Make sure your proposed building is pet-friendly if that is an issue for you, and find out the probable utility costs for anything not covered in the apartment fees (i.e. heat, hydro). If your condo has many of windows there could be significant heat loss so your expenses could rocket if heating is not covered.

In the following article we will look at a usual house owner profile.

Photo source: mannequindisplay

Housing Situation Report in Canada: Syntesys

2009-08-27T11:36:00.003-04:00

The conditions on the Canadian real estate market in 2008 and the first half of 2009 are analyzed in a report recently published by the Canada Mortgage and Housing Corporation. It deals mostly with the housing starts and with the affordability to rent & buy.

The report finds that after the shock of last year, now our real estate market is recovering again, however slowly. The new home market began the year of 2009 some 43% lower than in the first six months of 2008. However, in July 2009, the MLS sales already grew bigger by over 17% than in July 2008.

The general trend on the real estate market is growth now, and this goes also for the new housing price index. The average price in Canada has changed from -0.6% to -0.1% between January and May. In conformity with the improving resale market, the new housing price change in Toronto was slightly over zero for most of the time.

Economic conditions: Unemployment

We can be rather optimistic at the moment in regard to our economy. First, the unemployment growth seems to have got under control. In July, the number of net losses was 13,000, whereas during the first quarter of 2009, the fall reached 273,000. Moreover, the Bank of Canada describes the positive outcomes of the stimulus packages that were brought out by many countries during the last year.

Affordability to rent

Affordability of home ownership or renting is based on calculations of how many hours one needs to work in a month to bring the average cost of 2-bedroom apartment rent or the average mortgage payment down to 30 per-cent of gross monthly income. In 2008, the average hourly wages has increased by more than 5% up to $23.69 (Ontario: $24.65, Toronto: $24.93)).

Generally, the average number of working hours required to earn the average rent for a 2-bedroom apartment down to 30% has declined from 114 to 113 hours per month. The biggest decrease has been observed in St John's, Brantford and Guelph, whereas in Toronto the number of hours declined from 149 to 146, meaning that Toronto ended up as the second most expensive city in this "competition", just after Vancouver.

Affordability of home owner-ship

While the number of hours required to rent didn't decrease so distinctly, the same number for average mortgage payments down to 30% of gross income was more distinct - between 2007 and 2008 it declined from 255 to 240 hours. One of the cities where the amount of hours required to own declined the most, was Toronto: from 299 to 286. But yet Toronto stays 4th among the most expensive cities to own after Vancouver, Victoria and Abbotsford.

End notes

As an overall result of real estate market recovering from the second half of the year 2008, also new housing made a step towards better affordability, which I really welcome, being a Toronto realtor. If we look at the numbers for the first half of 2009, we can see steady or slight decrease of prices and slight improvement in affordability of both renting and home ownership. As the interest rates are still staying quite low, it is now a good time for purchasing a property, before the market takes a second breath.

Photo source: Rantes Aguirre

You Won Your Dreamhouse: And Now What..?

2009-08-13T10:00:00.003-04:00

Even after your bid for the property you decided to buy has been accepted by the seller, there's plenty left to do before you can rightfully move in. In the following article, as an experienced realtor from Toronto I can familiarize you with the most important steps of the process.

After your offer has been accepted, the next thing to do is to meet with your legal adviser and have her/him explain you all your responsibilities following from the contract. Your solicitor should help you to understand all the costs related to the closing procedures, including Land Transfer Tax, disbursements and legal fees.

UTILITIES

It is also necessary to verify the absence of any arrears or outstanding charges, such as gas, water or hydro expenses. Your legal adviser does this by sending letters to the municipal or regional utility departments. Another purpose of these letters is to find out if the equipment on the property is rented or owned, and also to inform the utility departments about the scheduled closing date, the new owner's name and the name of the seller's legal adviser. Information about the billing type and whether the billing is metered, all this is also demanded by these letters.

TAXES

Taxes is another serious topic. You will have to provide a Tax Certificate, which will verify the amount of the current year's taxes and any arrears and outstanding charges for the current year and any previous years.

BUILDING & ZONING

The Building and Zoning Department will need to get involved as to the particulars of zoning by-laws and restrictions relating to the distance from the street and side and rear lines, type of construction, lot areas and building areas, lot frontage and depth requirements and permitted uses. Another letter is sent by your legal adviser to this department, together with a copy of the survey to reveal all this.

TITLE & EXECUTION SEARCH

The appropriate division of the Land Registry Office will start a Search of title to the property in order to establish whether or not the seller is the owner of the property and whether or not he has the legal right to convey the property. The search also reveals if the property is not a subject to any encumbrances, encroachments, easements, liens, agreements or mortgages that were not disclosed in the Agreement or Purchase and Sale. Also an execution search is done in the appropriate Sheriff's Office to ensure that there are no executions against the seller or previous owners of the property that would affect your title.

FINANCING

While your legal adviser is completing his initial searches, it is your responsibility to make necessary arrangements for financing. The amount of financing you will qualify for and the amount you will need to finish the transaction should be clear already before you have signed the Agreement of Purchase and Sale. On the day of closing, you might not be aware of all the fees related to mortgage financing. Your legal adviser can advise you of these fees when the financial institution that you chose provides you with a Mortgage Commitment Letter.

BEFORE THE DAY OF CLOSING

A few days before the closing, you will need to come to your legal adviser's office to sign all the necessary documents and to produce a certified cheque to confirm the balance of closing funds.

CLOSING DAY

Your legal adviser will agree to meet with the vendor's legal adviser at a mutually convenient time at the appropriate Land Registry Office where he will sub-search title and complete final execution searches. They will exchange documents, keys and cheques and your legal adviser will make sure all the necessary documents are registered. As soon as this has been completed, you can get the keys and the seller will get the finances.

AFTER CLOSING

Now your legal adviser will provide you with a reporting letter that acknowledges your title and explains all the transaction details. Then you are finally free to move in to your new house! Just make sure to check that all items that should be included in the purchase price, as described in the Agreement of Purchase and Sale, are left on the property by the seller. Let your legal adviser know without any delay if you think something is missing.

(picture by azhure)

Toronto's Transport system: Be Ready for Shake-Out

2009-08-09T13:24:00.001-04:00

The transportation system is the crucial element of every big city in the world and Toronto is no exemption. In the last four decades, Toronto has faced a population explosion: nowadays it has almost five times more people than in 1970. That's why our transportation system needs to change in order to be able to satisfy the changing demands. Only improvised solutions have been provided by a number of minor improvements in the past. Nevertheless, in the upcoming years, the character of transportation in south Ontario will be totally changed by a project known as The Big Move. (picture by yjh)
MoveOntario2020 is the name of the key part of this overall transportation outlook. It has been announced in June 2007 (is that a coindicence that liberals were reelected just in October after that?) and people are now impatiently anticipating the new reality. $17.5 billion is the total budget set apart for the 52 projects of the total plan ($11.5 billion covered by Ontario’s budget). 1. GO Transit upgrades and extensions; 2. Major municipal transit expansions; 3. Cross-boundary subway expansions; and 4. Rapid-rail link between Toronto Union Station and Toronto

Real estate and transit system

The real estate in Toronto is a very complex industry and can be influenced by many different attributes, either only a little, or the impact may be bigger. It may often be difficult to identify the effect of a concrete change in the local or global economic environment, but clearly there are some factors that are more relevant than other ones. One of the key attributes is the transportation system.

You all can imagine the way in which transportation system positively influences the quality of living. For instance, the direct expenses on commuting are smaller, just as indirect expenses such as time consumption. Moreover, we can mention easier accessibility of public facilities or cleaner air and generally healthier environment, whereas there only a few minor negative short-term aspects.

There are a number of research papers attempting to quantify the effect of various improvements in transportation system. One of the papers from Tinbergen Institute, dealing with railways, offers a number of 25% - that is how much the positive effect of railway accesibility on house price can be. Every house's value can grow by 2.5% on average, provided that the public transport frequency is improved twice. This is valid just one year after the works are completed.

MoveOntario impact on the real estate in Toronto in upcoming years

Our expected outcomes can be based on a recent research made by REIN Canada. One of the key means of transport to decrease the commuting time is a rail commuting system, in Toronto represented by subway and GO Train system.

This kind of system has a positive impact on areas about 800m around from every station, with price maximization in 500m range. The areas that are impacted the strongest are older neighbourhoods or places where people earning less money live. Speaking about real estate prices effect, we can mention Toronto neighbourhoods around Spadina and Younge subway lines extensions. For GO Train it’s more complex; there are 17 projects involving capacity expansion, new lines and/or lines extension and there are 9 more projects involving GO Bus Rapid. In Waterfront and Eglinton neighbourhoods, we suppose a similar effect brought about by new light train transit lines.

Conclusion

All the effects of MoveOntario 2020 on Toronto real estate market are just not possible to be described in one text. The REIN study shows that the most positively affected areas will be around Vaughan, Scarborough and Barrie. Coming next should be the regions of Milton, Brambton and Uxbridge&Stoufville, these will also enjoy high influence. These regions can await 10-20% price rise. The third group is represented by all Toronto quarters which lie along the new lines or along the old lines, which capacity will be improved. Positive effect on real estate prices should appear 1-3 years after the particular project is completed.

And we still haven't described everything. With more neighbourhoods being easily accessible thanks to the new transport system, also the quality of life near the old parts will be better. Some 175 000 jobs are expected to be created thanks to MoveOntario, which may again positively impact the Toronto area real estate prices. With well-functioning transport system we are going to attract more people, more investors and more business. The whole Toronto will profit from the improved transport system and the house values in the area may grow for the next decades.

Canadian Real Estate Market: Better Times Ahead

2009-07-23T08:31:00.000-04:00

The real estate bubble in the USA exploded about two years ago. As a result, people participating in the real estate market in Canada came up with a demand: "How will the circumstances in real estate in Toronto or Canada be developing from now on?"

There were two basic motives for this uncertainty. First, Canadian real estate market, as our whole economy, has powerful attachment to the situation in the USA. The second reason is originating from the progress of the property market in Canada between the years 2006 and especially 2007. The situation indicated a likelihood for a similar bubble to develop here. Now let's look at the situation almost twelve months later.

The way how things were developing between 2008 and 2009 didn't really appear too good, which only reinforced all the negative prophecies and only a few people still managed to keep their confident viewpoint. If we look at the monthly year to year sales statistics, we can identify a clear fall with its peak in January 2009: -47% compared to the same month last year. So it's apparent that the "depression panic" from fall 2008 has reached Canada. No wonder that most people were reluctant about making any important financial decisions, resulting in the property market almost coming to a halt. Under these circumstances, some “experts” foretold Canada facing similar collapse as in the USA. However, the reality is quite different. Let’s examine the 2009 figures.

Number of sales and year-to-year change

These are the most characteristic and closely watched indicators. Looking at these indicators, it is evident how the market froze in during the winter months. However, the sales in June sprang to more than four times of the volume in December. May was the first month in this period when we observed sales growth (compared to the same month in previous year) and June's +27% indicated the Toronto housing market is back on the horse.

Days on market

Another important indicator. While the previous ones draw the bulk of the market, Days on market show us the speed and freshness. These are important characteristics, since if we had only the whole market volume numbers available, we wouldn't be able to predict how long any property would be out on the open market. It is like another side of the same coin. In January, during the most problematic times, an average home stayed on the market just 14 days longer. Confronted with South Florida or Detroit, where days on market value got close to 120-150 days, our slowdown was ridiculous.

Active listings flow change

This figure indicates the mood of the real estate market. It is based on observing the number of new listings on the market. If the home owners are scared that their property price would decline and they want to save their investment, the inflow is naturally growing, while the opposite situation is generally considered as a favourable time to buy property. The future of other market's attributes can be predicted from the active listings flow change. For instance the positive change after January was seen as a market turn signal.

Average price

This one usually attracts the greatest attention from my real estate clients. Usually, one of the biggest items on people's property list is their home, which means that every market change can result in the owner getting thousands of dollars more or less. When the prices declined in autumn 2008, already the next April they rose back and higher.

Why is the market doing so well?! Even now, pessimistic news about the state of our economy are printed almost daily. So why has such a quick recuperation of the housing market occurred? We can find two basic factors:

1. Failed expectations

Many Canadians observed the collapse of US housing market and presumed the same scenario at home. However, what is crucial to emphasize here is the fact that the problems in the USA originated from the subprime sector. Few defaults at the beginning caused a chain reaction. It started with a price decline, and as a result foreclosures and short sales were not covering all the toxic mortgages, so the banks were pressed to put even more foreclosured properties on the marked, which decreased the prices even more. I dare to say that Canada has a very healthy financial system, which in cooperation with very limited subprime sector where there are only a few foreclosures occuring makes our real estate market a secure one. Homeowners became aware of this fact very soon and relaxed.

2. Stabilized economy and buying opportunities

Now we will briefly analyze the figures about inflation, unemployment, GDP predictions and interest rates. Real estate market largely depends on this data, as follows from real estate prices explanation. Despite the fact that these figures concerning employment or economic growth could look even much better, we can be quite relaxed: our economy is far from a collapse, it is only slowed down, in a stagnation period. All these facts also helped to stop the winter real estate fuss.

Conclusion and the future

We can say that in addition to enduring the winter depression, Toronto housing market has recovered very quickly and now it is growing again. We can even call the condo resale market as hot now. The previous "one year break" has resulted in low interest rates and favourable prices, which means especially first time buyers can enjoy terrific opportunities. Now it is also terrific time for investors to pick some cherries, as their prices still haven't recovered. Due to the market speed, most homes are now sold during the first month on the market and the selling price is usually quite good. So the vendors can feel comfortable too. On the other hand, slower labor market and pertaining level of uncertainty will hinder sudden price burst and bubble creation in next years. From the exceptional market growth of 27% in June we can tell that the market is trying to get to its previous speed and volume and it is likely to get steady soon. Toronto housing market forms a solid foundation of stability for Ontario's economy in wild times.

Face mask - myths about swine flu

2009-07-13T04:46:00.004-04:00

As a condo broker I travel a lot through Toronto every day and sometimes I can see people wearing these face or surgeon masks. I have close contact with lot of clients every day, so exposion to swine flu is not so distant to me. But can these mask really help us?

Thankfully, the swine flu isn't spread that badly so far - at the moment there's 8,883 cases, of which 36 ended sadly. (Ontario - 3,464 cases, 12 deaths.) Don't you sometimes ask yourself, when comparing these statistics, why WHO cares so much about the swine flu, when so many people die every year because of the ordinary flu?

One of the reasons is that the ordinary flu is usually dangerous to only very small babies or old people or those with a compromised immune system. The problem with the swine flu is that it is especially dangerous for young and strong people as opposed to small babies, elderly or weak, and that's why WHO takes it so seriously. Also, the WHO is trying its best to anticipate the big pandemic of so called from 1918 to repeat. That's why the WHO has previously advised on using facemasks to reduce the spreading of the dangerous flu.

Before we go on more about the mask, yesterday you maybe heard of or read about some two farmers from the Saskatchewan province falling ill with a new kind of swine flu. The farmers only suffered from very light flu and the officials do not think this new flu will spread.

The mask: what is it for?

Influenza, or simply flu, is a respiratory illness. It is mostly spread by inhaling the virus from the mist created by coughing & sneezing of an ill person, or by touching your face (eyes, nose or mouth) after you touched a surface contaminated with the virus. But there's the rub: a sick person is contagious already 24 hours before any flu symptoms shop up, and up to 7 days after the first symptoms. So before you knew you were sick, you might have infected other people at home, work or school or wherever you were, since you didn't feel ill.

The whole idea about the facemask is to provide a barrier between you and the air around you. The basic facemask isn't too effective in filtering the air you breath in, so it's not so very efficient to prevent you from catching the virus. But the good news is that the mask is quite good when breathing out - it does help to block the virus effectively when a patient needs to sneeze or cough. Considering the fact that people might be spreading the dangerous virus while still feeling OK, it might be helpful to wear the mast even before one gets sick.

What mask should you choose?

There are so many kinds of surgeon masks and respirators that choosing one might be a bit of a problem. You won't make a mistake if you go for a N95 mask/respirator instead of a basic type. This kind of mask guarantees the minimum of 95% filtration of the particles that could possibly make you sick.

But relying totally on the protective equipment you chose is not enough without following some ground hygiene procedures. Not forgetting to often wash your hands using soap or alcohol sanitizer is essential. Always use a tissue when sneezing or coughing and discharge the tissue straight after use. Also don't go out if you feel sick and avoid crowded places if possible.

Real estate prices mystery solved

2009-06-26T14:26:00.004-04:00

Have you ever thought about the reasons for the changes in property prices? In the following article, I will try explain the main factors behind the property prices’ shifts. This knowledge has been gained from over two decades working as a Toronto realtor.

Following the trend
How to calculate the next price move? How does one determine when it is best to invest? What majority buyers do is they simply watch for the previous direction of prices. In other words, their expectations are mostly affected by the previous movement. If the prices rise they expect the growth to continue, and vice versa. Although such a strategy does not consider the real factors that have an impact on the price, it is applied. Relying on this method alone can produce very painful experiences, just as we saw not too long ago. (picture by kevinzhengli)

Fundamental economic factors

What economic factors have the most significant impact on how prices are formed?
- Economic growth
- Nominal interest rates (before inflation) and structure of mortgage products
- Inflation
Let’s look at these factors in more detail.

Economic growth

The stronger the state of economics, the better it is for business as well as for real estate. One of the reasons is that when economics is stronger it raises property prices because the buyer gets reassured that there will be a rise in the demand for housing, and a rise in the value of his property which will enable him to sell it again for a profit. In accordance with BIS Quarterly Review, 1% of GNP increase is connected with 1% to 4% property price rise after 3 years.

Nominal interest rates and structure of mortgage products

In order that property prices grow, the very first thing needed is eager buyers. One implication of the fact that house lones have to be made when anyone wants to buy property, is that there will be many buyers who will go rather for houses with interesting mortgage products that includes low nominal rates. According to the mentioned source, a 1% drop in the nominal interest rate can be linked with 1/2% to 1% rise in property prices after 1 year. Equally, the buyers seem to be very sensitive to even a slight rise of nominal interest rates, causing the property prices to settle. But there are exceptions to the rule. For instance - a credit crunch occurs when official interest rates become of less importance and the loan market gets driven by different factors. Likewise is the real estate market.

Inflation

Property prices are strongly impacted by the rate of interest while changes in interest rates are influced by inflation. High inflation has a varied impact in different countries. Some countries see investing into property as balancing inflation in which case higher inflation will result in a rise of property prices (for instance Germany). Such countries may be characterized with fixed interest rate loans with no equity withdrawal. Although, high inflation will have a bad impact on property prices in countries where interest rates are floating, as in the UK, or with equity withdrawal as in the USA.

Conclusion

As with most rules there are exceptions and numbers and values do not always have to apply to your area. It is realtor's business to see the exceptions and differences. However, it is important to note that a general system is used by means of which real estate prices are created on the market. Don't let shallow attitude get thebetter of you. Think about every aspect of the market.

Tips how to win the real estate offer

2009-06-24T07:18:00.005-04:00

Here are some tips a and tricks on how to win an offer of the house you've always wanted. For a worthwhile house, it is not unusual to have 15 or even more candidates in the competition, which can be very disappointing for an inexperienced buyer. I know this very well from my daily work with clients, being a real estate broker for more than 25 years. Well, I cannot make sure that even if you follow my advice, you will finally win the offer, but anyway it might be useful for you and even save you some money. (picture by on1stsite)

Important: Get pre-qualified

Prospective clients who can get prequalified for a bank loan always have a better chance of getting the deal than candidates without a proper financial background. Of course, it wouldn't make a good impression if your financing was not sure and the vendor found out about it - in that case all other tricks won't be able to save you.

Explore the seller's wishes

Try to find out about the seller's expectations, as it would be a waste of time if there were some details that you were not able to meet. It is therefore advised to find out all the prerequisites accompanying the sale of a property you want to bid on. It is better to stop trying in case you find out you are not able to meet them. However, if you can satisfy all the requirements, contact your realtor and ask for help writing a letter to go with your bid. That will give you a chance to let the seller find out more about you and will highlight the positive aspects of your offer.

No low-ball, no even cut off marks

Now it is important not to propose an offer that is significantly below the fair price of the home, as this would probably make you an unsuccessful candidate and the seller would choose another buyer. And that's even if you deliver a comparative offer in a later stage. Thus the best way is to offer around $1,800 to $4,800 more than the highest estimated bid. For example the most the owner expects is about $470,000. Try adding some money and come to $473,164 - the offered price doesn't have to be an even number!

The deposit

The usual, best looking amount of the deposit is between 10% and 20%. Of course in most cases you can try to bargain the final amount of your down payment with the seller after the contract has been secured and usually with a success outcome. The crucial point is that you actually pay the deposit after you sign the contract, otherwise you wouldn't seem to be a respectable buyer.

Good faith deposit

The next technique is quite aggressive but produces some great results. Try to make the earnest money deposit as big a part of the down payment as possible (this deposit is not returnable if you back out later). You have to pay this money anyway, as the earnest money deposit is included in the down payment, but it sends a strong signal to the owner. It tells the owner that you really want to go through with the deal. After closing the business, you can usually rearrange the down payment value, so what matters here is the good faith deposit, showing how interested you really are in the property.

Come up with a free lodging offer

In the summary accompanying your offer, propose a free-post occupancy agreement to the seller in case they need a week or two in the property after it's been sold to settle their affairs. This might be the final aspect that plays for you to win the deal, as in a different situation the seller would have to pay some rent, being no longer the owner of the property.

And finally some dream home tips...

Do You Think Reverse Mortgage the Best Choice for You?

2009-06-10T15:42:00.001-04:00

Reverse mortgage: are you considering it? You surely don’t have to work with finances for you to know about this financial product: As realtor expert from Toronto, almost every day I hear about someone who went for it. Reverse mortgage is a unique kind of home loan that gives you the opportunity to get a part of the price of your home in cash.
This financial product may be also called "Equity Release", as in England, where it is quite popular. If you are older than 60, you feel you don´t have enough funds and the idea of monthly payments is somewhat horrifying for you, the reverse mortgage might be the right solution for you.

The system

Briefly explained, when using the equity release, you get paid the money according to the value of your home, while the interest is accumulated as the time goes. The client or his/her spouse is allowed to stay in their home as long as needed, since the liability has to be paid back only after they sell the house or the client (or spouse) moves out or passes away. Typically, clients can take credit ranging between $20,000 and $500,000. It should not exceed 30% of the home price, or 40% if the client is over 70. In the next part of this article, we will examine some pluses and minuses of the reverse mortgage.

Benefits

The mortgage is tax-free. You don't have to pay any monthly amount. The ownership of your home does not change. If you still have a mortgage on your home or any other debts, this may be a perfect form of paying them up, while freeing yourself from the monthly payment obligation. The interest can be paid step by step. In this case the debit sum does not increase. Another realty may be mortgaged instead of the original one (full price or part only). If you wish to end your mortgage any time, you can do so with no additional charges, provided that you have used this product for the minimum of 3 years.
Gradually, the interest rate becomes smaller. The financial institution has no chance of foreclosing in case the client borrowed more money than his home is worth. If it happens that your home loses part of its market price with time, the bank cannot demand more money than the market value of your home.

Cons

Before you enter the program, you have to pay about $1,300. After a few years' time, the amount of money you had borrowed may be equal to the value of your home you bought using your lifelong savings. If you borrowed $50,000 at the interest of 10%, the loan reduplicates every 7 years. In specific numbers, the loan will equal $100,000 after 7 years and $200,000 after only 14 years. Even if you are lucky and the home price is growing gradually, the debt is growing too and finally there might be nothing left.

Briefly, for home owners who don't have enough money and need to get some in a short period of time, the reverse mortgage might be the right way to go. Differently to the home equity line of credit, your home still remains in your property as long as you live there, and you can get the release mortgage no matter how insufficient your salary might be or how much you owe elsewhere. It is important to acknowledge the fact that the debt multiplies within not such a long time, therefore if the client starts using the reverse mortgage when still young and with insufficient income so that he/she is not able to keep the regular payment schedule to pay off the interest rate, the debt may become close to the total house value, leaving the client with not much financial supply left. If you are interested to find out more about this option, contact your financial planner.

New video site

2009-06-07T11:43:00.001-04:00

One short notice - Toronto condominium professionals are bounded with new technologies, that's why we started ellidavis.tv. Enjoy this site with video testimonials of our clients!

Coming - Summer events in Toronto

2009-05-15T18:34:00.003-04:00

Our team in Toronto Condos has always some important jobs to do, however, we always find time to enjoy some cultural events!

Have you ever noticed how many events there is in Toronto over the summer?Thousands of different events fills the summer in Toronto every year, offering meaningful recreation to over 5 million inhabitants the GTA.I cannot cover or even mention every single festival or concert (for complete listings see toronto.com.Why not have a look at 5 very different festivals instead. Maybe you'll find just what you were looking for.

Woofstock

When: June 13th and 14th
Where: St. Lawrence Market Neighbourhood

Doggies wherever you look! For the 7th time already, Toronto will be hosting the largest outdoor festival for dogs in North America. This year there’s a chance to win a honeymoon weekend package for two at the Le Meridian King Edward Hotel during the festival. All you need to do is participate at the Woofstock Wedding High Tee on June the 7th and be the owner of the best dressed doggie bride or groom! Good luck!

Luminato

When: June 5th – 14th
Where: various places

Have you heard of Luminato?For 10 long days, get ready to celebrate all kind of arts in the streets, squares and parks of Toronto once again.With over 100 of events lasting for 10 days, casting over music, films, dance theatre, visual arts food and more you can forget the boredom.Tickets available for sale already.

Northern Ink Xposure

When: June 19th – 21st
Where: Toronto Hilton

The annual gathering of tattoo artists and tattoo lovers from around the world is much more than just a tattoo show – it is a life style show for tattooed people. This year’s theme is ‘Tattooing and contemporary fashion with good ol’ Rock n’ Roll’. Most of the events are open to public, but only VIP passes (only a few hundreds!) will get you to the many after parties. If interested, check out the N.I.X. fan profile on facebook!

Fan Expo Canada

When: August 28th – 30th
Where: Metro Toronto Convention Centre

This year celebrating the 25th anniversary of Terminator, Linda Hamilton cannot be missing! The 15th annual multigenre fan convention covers popular arts such as comic books, fantasy, science fiction books and movies, horror, anime, video games and many more. Plenty of workshops and seminars, autograph sessions, masquerade and with a long list of featured guests you can experience the perfect weekend.

Casa Loma’s Renaissance Festival

When: July 4th – 6th
Where: Casa Loma

This family fair festival offers great fun for everyone! Come and enjoy dueling knights, magician shows, medieval music, comedy, Renaissance Shoppes, ongoing games and much more. Tickets also available online.

New video from Toronto condos!

2009-04-28T07:39:00.003-04:00

We have prepared this short video for all of you who are consdering buying a new condo. Prepare your coffee and have a 5 minute break...

Toronto has its own Agenda

2009-04-24T17:56:00.003-04:00

It is worth mentioning that Toronto sticks to its Agenda for Prosperity for nearly 3 years now. By seizing its diversity Toronto can possibly become a great place for global economy since it also enjoys all the advantages which businesses would require to choose their location. The most important of these advantages is that Toronto is the heart of one of the most rapidly growing economic regions of North America. Amongst the reasons why Toronto is now so successful lies the fact that big investments were made the previous century.

This new century is called "the century of cities". Why? Because in the context of it cities all around the world will be trying to become the actors to shape global economy. Toronto has the realistic ambition to be one of them and, moreover, inspire for solving metropolitan challenges like climate change and human wellness and security. Under these circumstances, tourism as well as real estate in Toronto can easily flourish. What is needed to succeed in them again? It is obvious that the answer is broader level investment. Economy should keep growing.

One year ago the mission to present Toronto as a gateway to North America and attract investment from Chinese enterprises started. This is a good sign, although it is not enough. After all, Toronto is lately believed to be the next Dubai...Can this be true? Statistics say that in 2025 Canada will be a leading oil-producing country and maybe more needed for the "oily-hungry" United States.

Toronto Condo Guide

2009-02-15T08:02:00.004-05:00

I would like to introduce you 10 most important Toronto Condos neighbourhoods, where is situated most of the condo development in our town. Every area with its own taste - no wonder Toronto is considered the condo capital of North America.

So here they are, one after another:

Bay Street

A century ago completely burned by the Great Fire, now the financial heart of Toronto, Canadian Wall Street. You can smell the business in the air - every important financial company has its Canadian headquarters here, in one of the representative business centres.

Avenue Road

Philosopher's Walk of the University of Toronto, The Royal Ontario Museum, Queen's

Park, Ontario's Parliament - bored? Then you can admire trendy exteriors (and interiors of course) of Hermes, Louis Vitton, Chanel and other exclusive shops.

King West

Roy Thomson Concert Hall or the Anglican Cathedral Church of St. James, picturesque Victorian-look houses - this is King West during the day. During night, this neighbourhood turns into fast beating heart of nightlife in Toronto - pubs, bars, restaurants, all here, few steps from the brand new condo development.

CityPlace

This is going to be condo-buyer's dream soon. #1 condo offer in Toronto. Vast ex-railway land is

turned into huge condo development - around 130 buildings, from townhomes to high-rise development, numerous ponds, parks and walking paths, Ontario lake few steps away - should I continue?

Waterfront

I spread words about Waterfron condos in Toronto some month ago!

St. Lawrence Market

If you want to live in stylish environment, go for St. Lawrenc

e Market. Old factories from this 19th century industrial area have been turned into lofts, Big St. Lawrence Market with fresh food offer, historical St. Lawrence Hall and the Flatiron Building remained. If you don't like living in the old factory, you can choose condo from the new development built in this area.

Yonge and Eglinton

Called "Young and Eligible" too, this is the area of young professionals. The Yonge Eglinton Centre complex, numerous sidewalk cafes and fashion boutiques, wide range of condo living from townhomes to high-density development. Yonge and Eglinton is modern and busy area, despite the fact it used to be a part of the old Town of North Toronto.

Yorkville

The Toronto International Film Festival occupies many of local cinemas. In between the movies, you can visit some of local 700 galleries here. Yorkville is also #1 shopping district and the same for food lovers!

South Etobicoke

This is an area with complex opportunities - parks, Humble River, good services, business and entertainment prospects, good highway connection - South Etobicoke definitely belongs to top 10 condo neighbourhoods.

The Village

This historical neighbourhood is an ideal place for afternoon walk. Victorian houses and apartments from the 19th century (but new condo development is on the way), numbers of restaurants and eateries can offer relaxing whiles. By the way, the television series Queer As Folk was filmed here.

Hunt for a realtor

2009-01-03T06:46:00.003-05:00

Are you going to sell/buy some piece of real estate, let's say some condos in Toronto? Then you are sure looking for some reliable realtor. But how to decide for the right one?

You may simply ask somebody around you - family, friends, colleagues - for their experience with real estate agent in the desired neighborhood. Probably you can get some information. On the other hand, a mediocre referral is worse then none. In that case, you should look farther afield.

Better place for seeking a reliable agent is online. You can find there some hard data, which doesn't lie. All good realtors are proud to present their done deals, testimonials bios, awards, education...

And all good realtors are happy when you contact them and ask question. Don't be afraid to be very detailed, you are going to buy an important service.

Ask for the:

-marketing strategy. MLS is not enough!
-time schedule. Are you going to need your agent in the evenings? Sundays? Does he have enough time for you?
-additional services. Arranging house inspection, mortgage, real estate lawyer meeting. You are going to spend your money, so ask for complex service!
-prince range. Is your potential agent dealing condos in your price range?

Don't hesitate to refuse agent's services, if you are not completely satisfied. It's the only way how to ensure smooth process of buying/selling your property.

Toronto real estate market news

2008-11-17T13:45:00.004-05:00

I am sorry I haven't been present for so many weeks on my blog, but we have been very busy at luxury homes Toronto. So let me present you at least some stats from Toronto real estate market for October, issued by the TREB in Market Watch Report.

Where to start? Let's take it one after another.

Sales continued in serious decline, this time it was -35% for Great Toronto Area (-38% for the City and -32% for suburbs) compared to October 2007 and poor -25% down compared to October 2006.

Similar results appear when we look at the price level. It has declined -10% for GTA, (-13% for the City, -8% for suburbs). Fortunately, no signs of collapse appear, because the price level is still around the level of 2006. (-1% for GTA, -3% for the City and +1% for the suburbs).

Home sellers realize this and they don't flood the market with new listings. There was only 9% growth annually, but the number of active listings is still around the 27000 items. Market turnout remains pretty fast, with properties selling in less than 40 days on average.

Months are running and we can see the previous predictions were right - the peak of 2007 is gone, but the market is not going below its standards, which were set 4-5 years ago.
Except those, who bought their property 1 year ago, you don't have to feel any concerns about the value of your home.
And home buyers have still good chance to make an interesting deal!

Toronto market in July

2008-09-04T08:35:00.003-04:00

Canada and another western countries are facing possible economic crisis. GDP growth is often somewhere near to zero, inflation and unemployment is rising, gas prices...
One of the most endangered markets is the real estate market. It's not only the collapse in United States - it's also United Kingdom, Spain, Ireland, parts of India...
And what about Canada? You can read complex article about Canadian real estate market future on our Toronto real estate. What was the reality in July?
According to the Market Watch, the situation in Toronto is calm. There has been significant sales drop of 12%, compared to the year 2007, but sales were still 10% up the 2006 numbers. Price level has grown 1% and average number of days on market is around 30.
These numbers are a good proof of market strength. despite the sales drop prices remain stabile, so it means people are not panicking and flooding market with houses. And that's the most important thing, because psychology is now the key factor. There are no real substantial problems, like mortgage crisis in the USA. Our subprime mortgage level is much lower and the interest rate has been slightly calmer during last 7 years, compared to FED rates.
So if you own some property, you can remain in good mood!