admin April 17th, 2011
CHIC MEETS TRADITIONAL in this Exquisitely Executed 2 ½ storey renovation in Moore Park. Set on a tranquil, South-facing 33 ft. x 143 ft. lot, this 4 bedroom family home is surrounded by beautiful ravines and walking trails. Kitchen and baths have been renovated to perfection with honed marble, Caesar stone & heated floors. All electrical, plumbing and mechanicals have been updated in the last 3 years. Close to Moore Park Tennis Club and in the Whitney School District, this home has fabulous capacity for a future addition on its gorgeous over-sized lot. Garage and 2 car parking too. Just move in and enjoy! $1,299.000.
CALL ME TO VIEW THIS OUTSTANDING PROPERTY BEFORE IT’S SOLD! 416-925-9191
RIGHT CLICK AND SAVE TO DOWNLOAD FULL FEATURE SHEET HERE
CLICK HERE FOR MLS LISTING
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 January 24th, 2011
This month Jim Flaherty announced 3 changes to the lending practices banks will have to follow. This comes in an effort to stem the increasing burden of debt that we are seeing in Canada. The following are the basic changes announced.
1. A reduction of maximum amortization from 35 to 30 years for insured mortgages, or in other words mortgages that normally exceed 80% of the property’s value. Effective date March 18, 2011.
2. Lowering the maximum amount Canadians can borrow in refinancing their homes to 85% from 90% of the value. Effective date march 18, 2011.
3. Withdrawing the backing of government insurance on home equity lines of credit (HELOC’s). Effective date April 18, 2011.
A representative for MorCan Financial had the following to say about the new changes…
Although these measures are designed to tackle Canadians’ recent surge in debt, they fail to tackle the real problems and effectively punish those who need the most help. These measures play into the hands of increasingly rapacious credit card companies, which charge exorbitant interest rates to people who are most in need of help and decrease Canadians’ ability to use their homes as a secure avenue for low interest-bearing credit. It brings to mind the phrase “rearranging the deckchairs on the Titanic”, an idiom which would perhaps be more apropos if rearranging the deck chairs caused the Titanic to sink faster. The solution to our debt problems lies in effectively managing our debt and eliminating the burden of high debt bearing credit. Mortgages are the solution and not the problem.
Please contact Marcus Tzaferis for your mortgage needs or to answer any questions you may have.
MorCan Financial
1006 King Street West
Toronto, Ontario M6K 3N2
Marcus Tzaferis
416-214-9000
marcus@mortgagemarcus.com
admin June 24th, 2010
Like the weather, real estate markets are hotter in the summer; certainly true for this year. There are typically more buyers out looking for homes, and more sellers listing their homes for sale. If you are in the market for a new home or are thinking about selling during this time of year, there are some tips and trends to keep in mind to maximize your results.
Check out the following article for some food for thought.
admin April 7th, 2010
Buying a new home can be a daunting process, but if you follow these 5 simple tips, you should be able to keep your head above water.
admin March 3rd, 2010
I wonder if the average consumer knows that there are 3 levels of Real Estate Boards that constantly lobby the government on the consumer’s behalf. For instance when the City of Toronto proposed the extra Municipal Land Transfer Tax, Toronto Real Estate Board continuously lobbied against it. It’s members also encouraged their clients to let City Hall know that they were against this legislation. We are the only city in the Province of Ontario that pays the Land Transfer Tax twice. I don’t think most people realized what this tax would be until they bought a home and were faced with paying the Land Transfer Tax to the Province of Ontario and then again to the City of Toronto.
This tax adds an extra $20,000 and often much more to the price of buying a home in Toronto. We are being penalized, in essence, for wanting to own a home in Toronto. Add to that the fact that our real estate is the most expensive in all of Canada and it is making it increasingly difficult for young people to purchase their first home and certainly adds a debt load in excess of where most young people would like to be. The great thing about democracy is that there is power in the people and if we make enough noise, we will be heard. If you still believe that this is a punitive and unjust extra tax, you can keep telling your local councilor to make your views known at City Hall. You never know, they just might repeal the tax if we do. What are your views?
admin January 27th, 2010
Looking for your perfect first home requires a lot of decisions among which, location is a major factor. Consider these points when deciding where to buy…
1) Potential Value: Besides the fact that neighbourhoods will vary in average sale prices at the time that you’re buying, you should also consider the upside value of the home you’re purchasing in the coming years. Is there new infrastructure being built? Are new businesses coming in? Sometimes, it might take up to a decade before a neighbourhood improves but you can also save a lot of money and get a better return on your investment if for the future.
2) Proximity: Proximity to transportation, amenities, schools and your work will help with your peace of mind over the years and help with the resale value of the house. It can also help to save you money in the long run.
3) Demographics: What is the community like that you’ll be moving into? Are you looking for a younger or older community? Does the neighbourhood consist largely of families with children, singles and couples or retirees and seniors? Being part of a community can effect your overall experience in your home for the coming years.
These few points may make the difference between a happy home and a headache. For something you’re investing a lot of money into, location is an important consideration. I hope these ideas help you find the perfect home.
If you are thinking about buying a new home, please contact me to receive more information.
admin January 22nd, 2010
With the new year already underway, we are seeing the beginnings of the typical spring market and it’s increases in sales. The Greater Toronto Realtors reported 1,749 existing home sales on the Multiple Listing Service (MLS®) during the first two weeks of January. This result was almost double the 888 sales reported for the same period in 2009, when sales had dipped to a recessionary low.
“We have had a strong start to 2010,” said Toronto Real Estate Board President Tom Lebour. “Widespread sales growth in terms of geography and housing type indicates that many households remain confident in their ability to purchase and pay for a home over the long-term.” The average price for transactions in the first two weeks of January was $395,307, compared to an average of $332,495 for the same period in 2009.
“Double-digit average annual price growth will continue through the first quarter of 2010 as sales remain high relative to listings and we continue to make comparisons to last year’s winter downturn,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
source: Toronto Real Estate Board
admin December 7th, 2009
With all of the hustle and bustle of the holiday season, you may not expect to be buying something as large as a new home, but as Lendingtree.com points out, there are at least 5 good reasons to think about purchasing a home around the holidays…