Blog Archives

It is much more difficult to get into real estate as an agent than it was 20 years ago but that does not stop incompetent people from joining the profession. A potential realtor must now pass several challenging, university level exams in order to obtain a license to trade. On top of that, better brokerages, particularly the smaller non-franchised ones, (not a walmart equivalent where volume equals quality) are actually accountable for the behaviour and conduct of their realtors.

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I know its early February but there are thousands of buyers out there.  Are these not the best conditions in which to sell a home or condo? Whats missing? (Your opinion?)  Rates are still comfortably low. The economy in our area continues to head in the right direction. Money is fairly easy to borrow. Why then are people not selling their houses? All successful realtors (which excludes many realtors) will have at least several buyers.   read more

HOW many real estate shows exist on television these days? 20? 30? Im not talking about the dozens of dubious design shows or get rich quick infomercials. Just the First-Time-Flip-Virgin-International-Househunting-Intervention-Big City-Income Property type shows that seem ...

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In the City of Toronto ("416") there were 3,777 sales with an average price of $432,478 in May 2009. In May 2008 there were 3,711 sales with an average price of $434,271.

Note the slight increase in the number of sales and the fact the average price less is than half a percent down from last year. Although this is remarkable, it is consistent with what I see and the reports out of my Bosley Real Estate office.

What is creating the increase?   read more

There is a multitude of reasons why the pocket just west of Bathurst and St Clair is moving in the right direction. Soon the road construction will be over. When the dust settles more and more people will see the appeal of the neighbourhood. I live just north of St Clair with a dozen schools and 4 parks within walking distance, including the new, community oriented Wychwood Green Barns & park. This facility hosts an organic farmers market on Saturday mornings in and around the LEED certified development. Artscape made use of the old TTC streetcar barns to revitalize the area by promoting arts, culture and smart design. Hillcrest Park sits atop the Iroquois Bluff with tennis courts and a large childrens playground. Humewood Park, although smaller than the others, hosts the neighbourhoods children amongst some huge trees dating back to the days of the Humewood Estate.

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There are many reasons why you should buy now.

Interest rates are very low: you can get a 5 year mortgage for 4.19% (March 10^th, 2009) or lower and the rates will not stay this low forever... they might not go much lower.

In spite of the often misleading articles in the newspapers, the market in downtown Toronto is relatively strong partly because the increases in value over the last few years were not anywhere near the over inflated values of properties in Calgary, Vancouver and other cities. In Toronto, if you bought a house in 2000, then sold it in 2008, you would have benefitted from a 56% increase in the value of that home. Many neighbourhoods had higher increases over that time span.

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Many factors influence quality of life. Where one lives is one of the most important decisions to be made when searching for a home. Easy access to the things you do most often makes life simpler and less stressful. Think in terms of work, play, education, transport and other conveniences.

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Part of the reason for this blog posting is to try to correct some of the misconceptions about the Toronto real estate market since I find the reporting in the media to be anywhere from misleading to simply incorrect. The media hopefully gets its information from the same sources as I do, but the message too frequently gets lost in the translation . (understatement #1)

An example being a recent article in the Globe and Mail titled Homeowners new reality: Youre suddenly poorer (click for link) in which too little detail is connected to the numbers. They refer to info from CREA (Canadian Real Estate Association) stating that existing home sales will drop by 12 % from the previous year, a decline which will moderate to 3% in 2009. This is referring to the volume of sales, not prices. In our world of sound bites, this statistic often gets confused for a price drop.  The article mentions properties in Vancouver, a city which has benefitted from sizzling price increases for years.

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Psychology plays a significant role in the changes that are occurring in the global
stock markets as it does with Downtown Toronto real estate. I have yet to see much failure in the real estate market in Downtown Toronto but the doom and gloom talk is getting to me. In order for there to be a serious downturn, the supply has to outpace the demand.

A significant number of homeowners have to be in a situation where they are forced to sell. Although I have met many buyers who are pausing to reflect on the global situation, I still have more buyers than suitable houses.  read more

The markets have a lot of people doubting the strength of the Canadian economy despite solid fundamentals. How this doubt will affect the Toronto Real Estate market is something weve yet to see, although many people think they have the answers. I dont purport to know, but a look at the facts might help dispel a few misconceptions.

From the CREA (Canadian Real Estate Association) website:"Informed buyers and informed sellers look at the facts. And the facts right now indicate the real estate resale market is stabilizing in many markets," says Calvin Lindberg, the President of The Canadian Real Estate Association.

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The scale of renovations in a house can be broken down into 4 categories depending on what you have to start with.


- The first  is the simplest when you have the appropriate space and layout but need some aesthetic improvements for whatever reason. Considering how individual peoples' taste is, this scenario is very common. (some people's taste should remain individual) .


- The second enters into the category of serious work with the renewal of kitchens and bathrooms. Along with this category, electrical and plumbing upgrades often go hand in hand. Many of my clients can handle this category with a little bit of preparation.
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About the web:

I find it interesting the way he words this to imply the "omnipotency" of the web with its  ever expanding influence.

"There is only One machine
The web is its OS
All screens look into the One
No bits will live outside the web
To share is to gain
Let the One read it"

(borrowed  from Kevin Kelly on the TED website)
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Common knowledge seems to be the Toronto Real Estate Market is undergoing a transition. Few people know what we're transitioning to. i wish I knew.The facts make a statement.

There has been a 20%+ drop in the number of sale transactions in the city of Toronto real estate market yet the average price still increased by several percentage points. This may be attributed to the sale of better product which still commands a respectable price whereas the mediocre homes are sitting on the market for longer periods.
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