Blog

Smart Moves For Spring

Wed, 23 May 2012 15:13:00 GMT

Spring makes us think of planting seeds. Sometimes, they are literal, like the wildflowers we planted at the foot of our front lawn a few weeks back. Often, they are symbolic, as in the seeds of wisdom, or of investments.

In this edition of Smart Moves, we’ll look at Toronto and the surrounding area in terms of how sewing those seeds has paid off for investors in the condo market, and where to potentially plant some other seeds in the investment/rental property markets close to home.

As always we welcome your feedback good or bad. We hope you think of us first when you or your friends, family or colleagues need to buy or sell your next home, condo or investment property.

Click on the link below to view our Spring Newsletter.

Spring 2012 Newsletter

RENEW. ENERGIZE. DONATE! 4th ANNUAL RED DAY!

Sat, 05 May 2012 17:23:00 GMT

We are excited to let you know about two fun and exciting events taking place in the coming week, the first being “RED Day”, 2012!

On May 10th our office will be taking part in the 4th Annual Keller Williams Realty R.E.D. (Renew, Energize, and Donate) Day.

More than 75,000 associates in Canada and the U.S will donate their day to projects related to renewing and energizing their local communities. And of course, our Keller Williams Advantage office and our 130 associates will be participating on this day.

Our goal is to help those who cannot help themselves by offering a “Handyman” for a day - or in this case a “Handy Team” to do minor repairs to homes in need. We will be working on 6 different homes in the city as part of the Habitat for Humanity Project.

Additionally, we are collecting non-perishable food items and toiletries to support our local organizations in need. We welcome any support you may be able to offer: if you have any supplies or food items you can donate, please call or email us prior to Wed. May 9th and we will gladly coordinate a pickup from your home.

We can be reached by phone at 416-259-2444 or email admin@ireneandphilip.com. Alternatively, you are always welcome to drop items off at our 1238 Queen Street location, at the corner of Leslie. We extend our wholehearted thanks on behalf of our Keller Williams family.

How to Find the Right Real Estate Agent to Sell Your Home

Tue, 10 Apr 2012 23:13:00 GMT

The Globe and Mail published an article this week on how to find the best agent to sell your home. Author Fabrice Taylor certainly put some thought into this piece and it was good to see a balanced perspective.

Some of his tips were truly beneficial: don’t hire a friend or relative out of a perceived obligation….don’t hire a big name big box agent because you truly will get lost in the shuffle and be just a number….don’t hire an agent who charges you the lowest commissions because they will either not be professional enough to do a good job or be too consumed by high volume to give you the right amount of attention. Lastly, his suggestion to do your homework ahead of time to ensure you find the right agent is critical…and one we always stress to our clients.

However, a few points I’d like to debate in the spirit of business. I read Freakonomics too and if you take the time to find the right agent they will NOT rush you into a quick sale, even in competition…see above re: doing your research ahead of time. Also, in our experience you do get what you pay for…professionals charge appropriately for their time and energies. But, once again, your homework up front is paramount – don’t just hire someone who charges the highest fee just because you think that means full service: in any listing interview make sure your agent presents you a marketing plan and critical path of the steps they’ll take to present your property and describe how they’ll negotiate in your best interest.

Additionally, don’t attempt to negotiate commissions ‘before you let an agent through your door’….asking the right questions up front should be your guide as to whether or not you should schedule an interview. If there is a commission discussion necessary, have it face to face once you’ve had an opportunity to view the marketing presentation in person.

And lastly, commission incentives cannot be legally structured in Ontario – agree on a fee up front, once you’ve determined you’ve found the right agent for you.

SMART MOVES: OUR WINTER NEWSLETTER

Wed, 01 Feb 2012 16:18:00 GMT

Since Winter brings us deadlines for RRSP contributions, the gathering of receipts for the Spring Tax Return panic, and lots of economic data about the previous year, we thought this edition of our newsletter could, as much as possible, bring you positive news about numbers: specifically, real estate values in Toronto (climbing); mortgage rates (dropping); and tax breaks for seniors (giving). All in, 2012 looks like a great year to take advantage of continuing price stability and growth.

In this edition of SmartMoves, we’ll look at one of the most common mistakes homeowners make when they embark on a renovation; the potential impact of an extremely low mortgage rate; renovation tax credit for seniors....and a personal invitation to our upcoming Family Day Skating Party.

Additionally, we have a terrific downtown condo townhouse listing out this week with open houses today, Wednesday, Feb 1st 12-1pm and Saturday, Feb 4th, 2-4pm. If you know anyone who might be interested, please pass this email on to them. Click here to view the listing and below for the YouTube slideshow :

http://www.youtube.com/watch?v=uqf57w87QRg&fmt=18

As always we welcome your feedback good or bad. We hope you think of us first when you or your friends, family or colleagues need to buy or sell your next home, condo or investment property.

Click on the link below to view our Winter Newsletter.

http://kbteamtoronto.files.wordpress.com/2012/01/winter-2012.pdf

Aging Baby Boomers Changing the Landscape of the Housing Market

Tue, 31 Jan 2012 20:18:00 GMT

As Accredited Senior Agents, we have the daily experience of working with many Mature and Senior clients. That demographic is changing as is their effect on housing. A recent Globe article stated that the oldest of the baby boom generation just entered retirement age this year, but by 2036, seniors will represent about one quarter of the total population in Canada, which will mean more older households and more of those headed by single seniors: they will likely demand a different kind of residence from the two-story detached home they raised families in.

CMHC reported that the starts for condo buildings in major urban centres were up 33% in 2010 and prior to that, 29% in 2009. “Aging households will support continued growth in condominium markets” they added. As well though, we can also expect to see growing demand for home adaptations from Seniors who may want to stay in their current homes as long as possible…which could give yet another shot in the arm to the renovation market. Ian Melzer, of the CMHC’s Housing Needs Policy group also stated: Typically, young seniors are not living in accessible bungalows, so there will be renovations … installation of ramps or elevators, widening of the front door, bathroom doors. You might get replacement of bathtubs,” he explained.

For those who are definitely looking for a change fron their exising home, we have also seen explosive growth in Mature Lifestyle companies (such as Amica) who offer various levels of assisted living for all age ranges of seniors, with the ability to purchase their unit like a regular condominium, rather than the monthly rental arrangement which had been more traditional in the past. These developments have given younger more active seniors a viable option for a move from their family home.

While Canada’s birth rate remains below its replacement rate, the population is increasing faster than at any time since the early 1990s thanks to immigration. Last year, new arrivals swelled to 271,000, the highest in four decades, accounting for two thirds of population growth. Most continue to move to Canada’s three biggest cities – Toronto, Montreal and Vancouver.

These factors combined will result in Canada’s housing market continuing to grow, but likely at a slower pace than the recent boom years.

Why Waiting to Sell Your Home Can Be A Mistake

Tue, 31 Jan 2012 19:56:00 GMT

There is a common misconception that the best time for anyone to sell their home in Toronto is in the spring. We’ve put together the following information, to show you how you can maximize your sale price by acting sooner, rather than later.

Reason #1: Less competition. The winter months are traditionally slower times for new listings. April through June usually sees an increase of up to 70% in the number of new homes hitting the market! This means more choice for buyers and more competition for you. The more properties prospective purchasers have to choose from, the less likely they are to submit full price offers. Lower inventory also means a greater likelihood of competing offers, resulting in a higher sales price, and a higher net return on your sale.

Reason #2: Only serious buyers look at this time of year. Winter months have a tendency to weed out the lookers from the serious buyers. People who are ready and willing to move don’t care if there is snow on the ground or that it gets dark early. They have made a decision to move and they want to move now.

Reason #3: Mortgage Interest rates are predicted to rise in 2012, quarter by quarter over the year. Buyers are anxious to get settled before any possible rate increases occur. Increases in rates decrease the amount of mortgage a family can afford, cutting them out of certain price ranges. Buyers will be looking to maximize their purchasing power early in the year.

Reason #4: Relocation is at its highest at this time of year. Companies are anxious to get new employees settled for the beginning of the year. Statistically, corporate relocations rise by up to 15% from November to March.

Reason #5: Current market stability. Right now, the market is perceived as stable, leading to greater consumer confidence. In contrast, many economists are predicting that increased economic instability in the U.S may finally begin to have an impact in Canada, with a 5% reduction in sale prices being widely discussed by end of fiscal 2012.

Reason #6: The perfect gift to yourself – a new home. Start your year off the best possible way – in a new home for yourself and your family. By the time everyone else decides to list their home for sale, you will be moved in to a new comfortable space.

It's a Skate Party... You're Invited!

Mon, 09 Jan 2012 20:30:00 GMT

Get out there and buy a house! NOW is a great time...

Mon, 09 Jan 2012 20:29:00 GMT

One of our trusted mortgage brokers, Peter Majthenyi of Mortgage Architects, sent us a little update on his views on interest rate trends and the outlook for next year. It’s a great current reminder for those who are still sitting on the fence waiting for a real estate market correction….stop! And get out there and buy something.

Peter says: By now you may have heard the two big December announcements. The Bank of Canada has down-graded our 2012 economic growth & the Central Banks have agreed to reduce the cost of lending each other money; so what does that mean for us homeowners (and future buyers)? Low mortgage rates well into 2013 … that’s what I’m talking about! Now I feel we would be best served by taking a “convertible” mortgage like a 1 year (2.86%)or 5 year variable (2.80%) because bigger mortgage rate discounts may be on the horizion and we do not want to get stuck with a mortgage we do not want if rates drop? We’ll teach you more when you have the time to connect with us … Anytime, Peter & Team.

You can visit Peter’s site for current rates and contact info at http://www.mymortgageplanner.ca/ and although the month of December is generally light on inventory of available properties, it’s a good time to start doing your homework and get yourself set for an active search in the New Year

Is Buying a Pre Construction Condo a Good Investment?

Mon, 09 Jan 2012 20:27:00 GMT

We are often approached by clients who purchased a pre-construction condo unit in previous years, are nearing building completion date and are now anxious to sell their unit(s). But buying from plans doesn’t automatically equal a windwall 3-5 years down the road.

The Globe and Mail had a great article about the risks of buying pre-construction. Hats off to our own Brian Persaud of Keller Williams Advantage Realty, whose book “Investing in Condominiums” is featured here.

Globe & Mail Article

If you’re considering such an investment, make sure you speak to a real estate professional who is an expert in your market. And do it BEFORE you visit a builder, so that they can advise you on the pros and cons of the neighbourhood, Builder reputation, whether or not the prices are reasonable and if you can actually expect to benefit in the long run. A good agent will also walk you through the contracts in detail and give you a clearer picture of what you can expect while you wait for the building to be built. Do this before you start the process, in addition to taking your contract to a lawyer after you sign on the dotted line.