I’ve provided the latest market report for the toronto real estate market.  Below is breakdown of key points over the past month of August.  Contact me below if you want to receive the full report for Durham.

GTA Resale Housing Remains Steady Throughout Summer Months
September 4, 2008 — The Greater Toronto resale housing market closed out the last full month of summer at a steady pace, Toronto Real Estate Board President Maureen O’Neill reported today.

The Greater Toronto Area (GTA) average price increased one per cent, to $364,886 when compared to last August’s figure of $361,890. Compared to the $338,192 figure recorded two years ago though, the average GTA has increased eight per cent.

In the City of Toronto the average price declined one per cent to $377,990 from last August’s $381,681. Compared to the August 2006 figure of $344,419 however, the average price in the City of Toronto has increased 10 per cent.

In the 905 Region the average price increased two per cent to $356,657 from last August’s $348,563. Compared to the August 2006 figure of $334,245 the average price in the 905 Region has increased seven per cent.

“These healthy figures substantiate that when undertaken as a long term investment, buying a home is one of the smartest financial moves you can make,” said Ms. O’Neill.

With 6,318 transactions recorded last month, sales in the GTA declined 22 per cent compared to the record August 2007 figure of 8,059. Volumes were off just nine per cent however, from the 6,976 sales recorded in August 2006.

In the City of Toronto, there were 2,437 sales in August, a 25 per cent decline from the 3,243 transactions recorded a year ago.

Compared to the 2,706 sales recorded in August 2006 though, this represents a 10 per cent decline. Sales increased 20 per cent between August 2006 and August 2007.

The 905 Region’s 3,881 sales last month were 19 per cent off the August 2007 figure of 4,816 but declined nine per cent from two years ago, when 4,270 sales were recorded.

“Despite August’s moderate sales, the 57,364 transactions that have occurred this year are within 14 per cent of the 67,146 figure recorded a year ago,” said Ms. O’Neill. “In light of the fact that 2007 was a record year, our current market can certainly be characterized as stable.”

There are currently 25,076, properties available for sale in the GTA, which represents a 31 per cent increase from the 19,145 active listings a year ago. Increased choice has resulted in properties remaining on the market for an average of 36 days compared to 33 days a year ago.

Several neighbourhoods throughout the GTA experienced increased sales activity last month compared to August 2007.

In Pickering (E13) transactions rose six per cent based primarily on strong semi-detached home sales.

In Halton Hills (W27) strong attached/row house sales activity lead to a three per cent increase in transactions overall.

Condominium apartment and detached home transactions drove Rosedale (C09) to an 81 per cent increase in overall sales.

Detached home transactions also contributed to an 11 per cent overall increase in sales in Aurora (N06).

Time to start looking at properties ~ Here you will be able to search Durham properties currently available on the market.  Click on the Link below to start finding properties that match your criteria.  You can find condos, townhouses, detached homes, semi-detached, and investment properties.  All are currently available to book a private viewing.

 

Click Here To view Whitby Properties

Click Here To View Oshawa Properties

Click Here To View Ajax Properties

Click Here To View Pickering Properties

Custom Property Search Click Here

 

If you have an interest in Buying or Selling in the Whitby – Oshawa area and would like to discuss the current market, please fill out this contact form or call me directly at (416) 457-1722.

 

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700 Wilson and 900 Wilson road are Oshawa’s premier condo buildings. These 2 buildings are situated on beautifully landscaped grounds with towering lake and ravine views of the area.  The city of Oshawa really doesn’t have many high-rise condominium complexes to compare these too.  Residents here love the area and building ~ but most of all love the size of their condos.  Condo suites here range from 1500 – 2000 square feet (the largest in Oshawa).  

Amenities:  exercise room, games room, gym, indoor pool, party/meeting room, sauna.

Price Range:  $280000 – $330000.

Here are the latest Stats for sales in 2008.

Field	Count	Mean (Average)	Median	Mode	Low	High
List Price	9	$310,900	$320,000	$324,900	$278,900	$334,900
Original Price	9	$321,467	$320,000	n / a	$278,900	$374,900
Sold Price	9	$304,256	$315,000	$315,000	$275,000	$322,000
% List	9	97.67	98	98	95	99
Taxes	9	$4,856	$4,900	$4,495.29	$4,378	$5,366.99
Bedrooms	9	2	2	2	2	2
Washrooms	9	2	2	2	2	2
Days On Market	9	51	40	n / a	12	98

 

 Let me help you find that great Condo!  Click on the link to view 100’s of condos currently available in Oshawa.  Click Here to View Oshawa Condos

The power of purchasing real estate is a proven long-term investment strategy.   There are a number of different types of residential income-producing properties.  Each type of property will have different levels of revenue potential and degrees of risk. The most basic of these types of real estate include:

 

·     Duplex (two apartments)

·     Triplex (three apartments)

·     Multiplex (multiple apartments)

·     Rooming house (many rooms with shared kitchens and bathrooms)

·     Low-rise apartment building

·     Mixed-use commercial and residential

·     Properties that need to be fixed up for resale

 

Whether you are an investor who is looking to purchase a property that nets you a profit each month or a home buyer who wants to find a smarter way to bear the cost of home ownership, I have the information you need. Whitby -Oshawa are great areas for rental properties.  Ask me why this area is one of the best in the GTA for rental properties. 

I’m often asked if I know any Power of sale or foreclosure properties available in the Whitby and Oshawa markets.  The truth is ~ I do ~ If you are interested in receiving a list of Power of Sales, Foreclosures, and Estate sales within the Whitby, Oshawa or surrounding area’s just contact me below.

 

Here’s how it works, you will receive a FREE computerized report listing the current Foreclosure properties in your desired price range and Area. There is no cost for this information, and absolutely no obligation. This insider information will be sent to you in an incredibly simple and efficient format, and will give you a huge advantage over other buyers in the market place.  You can request this FREE service by simply filling out the information on the form below including the specific price range and area you would like the “Foreclosure Report” on.

 

Let me help you find that great property!  I want to be your resource centre for all your real estate needs.

How To: Pick the Right Condo

There is one question I’m always asked ~ it goes something like this  “We want to buy a condo, but how do we know that we have picked the right condo project? “

In other words, once getting beyond the obvious qualifiers of price and general location (downtown? suburban?) how should one consider the seemingly endless list of other characteristics.  There’s the physical: highrise? many or fewer units? converted historic building or new construction? The intangible: Who manages the association? Does the developer know what they are doing? And the unknown: Will my view stay forever? Will people want the 2008 version of “modern urban” in 2020?  

Here are some important things to consider. 

Select the building(s) you are interested in very carefully: 

Smaller Buildings (20 units or less)

• Be cautious of buildings that have too many and two few units.
• Buildings that have too few units can be difficult to manage and control the common area expense (association dues).
• It is difficult to find a property a property management company that will devote much time to a building that has fewer than 20 units.
• Property management companies also charge a minimum management fee of $15,000-$18,000 and this can become a big expense per unit if there are only 10 units and this fee is negotiable if the building has a large number of units.
• Be cautious of self-managed associations as this can cause conflict among resident and is uncomfortable (similar to a shared driveway).
• When a large capital assessment arrives (roof, parking lot, exterior maintenance or replacement or boiler expense) this can result in a large assessment per unit.

Larger Buildings (100 Units or more)

• Most loft and condo buyers are first or second time buyers and will live in the property 3-5 years so resale is a very important issue.
• At any point in time it is likely that 5-7% of the units in any building will be for sale in any particular building
• If the building has 400+ units you will be competing with 30 units when you decide to sell.
• When we show a Buyer a large building that has many units for sale we find that they have a hard time recalling any one particular units they saw that day.
• It is sometimes difficult to have a voice in a large building if you are concerned about homeowner’s dues or other issues as the association tends to be run by the management company (and their fee is often based on the expenses to run the building).
• These buildings tend to have a great amenities package (swimming pool, health clubs, business centers, etc.)

 Over the years we have found the following to be a good safe bet:

• Mid size buildings that are well located. 
• Buildings that are unique (warehouse conversions or well designed new construction where the developer has not repeated their work over and over).
• End units or units higher in the building.
• Ground floor units are good provided there is something special (larger deck/on a green space/not on a city street).
• Homeowner’s dues that are 20-30 cents per square foot when you pay your own heat and utilities; 30-40 when it is included (stay away from older large buildings with high dues).

 Pick the right tool for the job (get an agent that knows the market):

• While friends and relatives are great they will often not possess the in depth knowledge of various buildings to help you make the best decision (an experienced agent will be able to tell you which buildings have been a success and why and which units were popular within a particular building).
• Have your agent run the market time for pending and sold units in the buildings you are considering.
• Have your agent analyze then number of listings that have been cancelled or expired as a percentage of listed by building.
• Have your Agent ask the property manager how many foreclosures there have been in the building you are interested for the past 24 months (seller could not sell and ultimately the property was foreclosed).
• Have your Agent determine how much the dues have changed over the past three to five years.
• Ask the property manager if they are expecting any special assessments for capital improvements and if there are funds in reserve to cover this type of expense should it occur.
• Weigh the possibility of increasing interest rates against a building that will not be finished for 12-24 months to determine if you would still want/qualify for the payment if it were higher.

You’ve got the kitchen of your dreams and a master bedroom suite that would look right at home in a 5-star hotel. And your gorgeous new exterior paint job is the envy of the neighborhood. Your place looks so great that real estate agents are dropping off their cards telling you how much they could sell your place for, if you felt like putting it on the market.

 

Sell it now! Good grief no! Not after all the remodeling work. But… who knows? In five or six years when the kids are off to college and you and your mate get tired of mowing that big lawn and knocking around in a house built for five but inhabited by two, a downtown condo may look pretty inviting. Face it. At some point in the future, whether it’s next year or in 20 years, you’re going to want to sell your house. And with all the improvements you’ve made over the years, you should get a nice return on the sale, assuming you don’t let your house fall apart.

 

Remodeling can be frustrating but it’s also fun — filled with anticipation and visible rewards at the end of the project. Maintenance is dull and routine, but you have to do it if you want to retain the value you’ve added to your home. For example: Hardwood floors need to be refinished every 5-10 years depending on wear and tear. If they get too worn down you can do permanent damage to the wood. Exteriors need to be repainted every 5-10 years too, depending on such factors as the weather where you live, or you can damage the exterior wood. Your roof and gutters need annual inspections.  A clogged or damaged gutter and drain spout can flood your basement and cause serious damage.

 

And the list goes on. Like taxes and dental checkups, regular home maintenance isn’t fun. But you must do it if you want to take care of what is likely your biggest single asset — your home.

 

ANNUAL HOME MAINTENANCE CHECKLIST:

 

Kitchen: Check for leaks under and around the sink. Plumbing leaks can damage cabinetry and floors. Check and repair grout and caulking on tile countertops and around the sink. Also check wear and tear on wood floors, which periodically need to be refinished.

 

Bathrooms: Check for plumbing leaks and check grout on tiles. If the grout gets worn away water will start getting into the walls behind the bathroom, causing damage.

 

Basement: Check for cracks in the foundation and leaks. Buildings settle over time and even after decades of having a dry basement leaks may suddenly occur.

 

Attic: Check for signs of water leakage from the roof. Also look for any sign of termites or rodents. Squirrels or rats that nest in your attic can chew electrical wiring, which can lead to fires.

 

Smoke alarms: Batteries need to be changed annually.

 

Heating system: If yours has a filter, change it annually.

Air conditioning system: Change all filters monthly or as recommended by the filter manufacturer.

 

Roof: Note if any shingles have fallen off or if gutters or downspouts appear clogged or damaged. You can always hire a reliable roofing company to get on the roof and take a look. Reputable roofing companies won’t try to sell you a new one unless you really need it. You can simply pay them for an inspection.

 

House exterior: If your house is wood, check that the paint hasn’t worn away so much that the primer paint is showing. If the primer also wears down, you can do damage to the wood. Brick houses should be inspected for damaged bricks or masonry. Check stucco houses and repair any cracks large enough to slide a nickel into.  Asphalt and concrete driveways: Repair any cracks or buckling.

In Whitby and Oshawa’s quick real estate market you need a custom condo search to find the perfect place.  Durham buyers using an automatic system to notify them of new condos are getting the edge needed to beat other buyers to HOT NEW LISTINGS.

 

You can either input all of your requirements below or set up a private consultation.  A custom market analysis will be provided and a property report will be sent to your e-mail.  This automatic search will constantly scan for new properties matching your exact criteria.  My system works on real-time; it’s automatic and time saving.  This works daily, weekly and or monthly depending on the perfect condo you wish to find.

 

Let me help you find that great condo!

The answer is simple ~ People buy on emotion.  Buyers know as soon as they walk into a condo if they like it or not.  The reason we stage properties is to make people fall instantly in love with the place.  First impressions are everything and sometimes you only get a couple minutes to capture a buyer’s interest.  An expert in the area of staging who writes articles on the subject every other Thursday in the Metro has a number of free tips to help everyday people make the most of their space and achieve top dollar when selling.

 

Check out her site www.organizedzone.com for some tips and tricks

 

Let me help you find that great Whitby/Oshawa home!  Click here to view 100’s of properties for sale in Whitby/Oshawa.

To avoid interrupting the school year, most families with school-aged children prefer to move to their new homes during the summer vacation.  This means that numerous home buying decisions are going to be made in the next few months. Traditionally, the spring and early summer months are the best months to sell a home.  It’s during these months that property owners will sell within the quickest time frame and earn the most amount of money on your investment.

 

I’m sharing these thoughts with you to suggest that if you’re anticipating a move in the next six months to a year, the summer and fall months might be the wisest time to make that move. 

 

When you’re ready to discuss selling your property, think about the company that excels at selling quality residential real estate. Also think about the Realtor who is one of the top salespeople in the area.  Feel free to contact me if you would like to learn more about how I sell real estate within the area.

 

Let me help you find that great Whitby/Oshawa home!  Click here to view 100’s of properties for sale in Whitby/Oshawa.