admin March 24th, 2011
All across the city we are seeing many new condo developments. Renovations and in fill development is still strong in the home sector but we are seeing an incredible number of condo projects under construction, nearing completion or in the selling phases of development.
Yorkville has a number of new projects such as The Four Seasons Hotel and Residences, Milan and 36 Hazelton. There are 2 developments on Balmutto Street, across from the Manulife Centre, several new condo developments on Charles Street both east and west of Bay Street and on St. Thomas Street. Both King St. W. and King St. E. are becoming elegant and trendy areas, with the completion of the Thompson Hotel and The Ritz Carlton Hotel, and Trump Tower which all have private residences attached to them. Many other condo projects have sprung up in King West such as 66 & 75 Portland and The Fashion House at 560 King W. Further west we have Liberty Village and all of the development in Trinity Bellwoods near the Drake Hotel and the Gladstone on Queen Street. South, there is all the development along the waterfront near Bathurst and Spadina such as City Place, DNA, Water Park City and near the Rogers Centre there is Maple Leaf Square.
To the east, The Distillery District is still under construction with new phases on Mill St. and with the West Donlands and East Bayfront areas encompassing a vision of parks, biking and walking trails and recreational facilities in the works, there are many new projects being developed there such as River City, Bayside and Parkside along with the village for the Pan Am Games coming to Toronto in 2015. Toronto is growing up in front of our eyes. To grow with it, contact me for information on any of these condos.
admin March 15th, 2011
We are well into the spring market now. As always, we had a little stall during March break, but now that everyone is back to school and work, focus is back on selling or finding the right home for many people. We are still experiencing tremendous demand for homes and condos in all areas of Toronto. What we are finding, at the moment, is that there are not enough homes on the market to fill the demand for properties, so this is again, creating an environment for setting specific dates for bids to come in.
Considering all the financial events around the world, we certainly are in an enviable position here in Toronto. All areas of the city have seen increases in values as buyers keep looking for new areas where it is still affordable to buy into the housing market. This is encouraging more renovation in these parts of the city and in turn beautifying all of these areas and increasing the values in the area. If you are interested in getting a list of up and coming areas and properties in those areas, please contact me either by email or by phone and I will be happy to send you a list of possible properties. We have lists of distress sales and good investment properties.
admin March 1st, 2011
The Bank of Canada was expected to raise interest rates this morning as the price of oil and the Canadian dollar have been climbing and fears of inflation are the new conversation. The Bank of Canada, however, decided to keep the status quo and not to raise the interest rate this time.
Most financial analysts feel that rate hikes are inevitable at some time as the Canadian dollar is now above parity with the U.S. dollar and our GDP was higher; however, there is still cautiousness from the Fed to keep a balance between encouraging growth in the economy and keeping inflation at bay. The risk that an increase in interest rates would kill the economic recovery is a concern, especially in the light of higher oil prices. Higher prices for oil have the ripple effect of higher production and transportation costs which ultimately get passed on to the consumer as higher prices for goods and services.
So at the moment interest rates are still at an amazing level and the variable rate is still an attractive option. Spring Housing Market is here and new properties are coming to market daily. For a market evaluation of your home and a list of available properties in your area, please contact me at 416-925-9191 or sglenn@trebnet.com.