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New property listed in Dufferin Grove, Toronto C01

I have listed a new property at 138 St Clarens AVE in Toronto. See details here

Rarest of opportunities to own a one-of-a-kind, 3-storey, detached, signature residence. Custom built with a modern aesthetic, this is a super bright, very care-free, low maintenance home for a savvy investor. Currently set up as three separate apartments, each with its own entrance, this home is perfect for keen investors looking to generate solid income but can also be easily be converted to single-family with income from the basement apartment. Offering almost 1700sf, including the basement, this 5-year old home has all the conveniences; third floor deck, parking off the lane, gas boiler/on demand hot water heating system, 4-head heat pump with AC, proximity to shopping, transit, parks &schools.

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Market Watch: Bank of Canada Hints at Rate Drop, Federal Changes for First-Time Homebuyers Unveiled

A lot has happened in the real estate market over the past few weeks, and the changes keep coming.

In April, not only did the Bank of Canada hold rates steady again, it indicated that an interest rate reduction was in the future cards. It will likely only be .25% when it happens – perhaps as early as June – but it would easily be enough to spur some people into action.

The federal government also released a budget and announced that starting on August 1, first-time homebuyers will be able to use up to $60,000 of their RRSPs for a downpayment (up from $35,000) and lenders will be able to offer them a 30 year amortization term as opposed to 25 years.

Will this have a major impact on the market? Probably not. The difference between monthly payments would be less than $250 on a $500,000 mortgage. However, it will help some first-time buyers enter the market, and that is definitely a good thing. Click here for more 

As for the market itself? March saw more of the same kinds of activity we’ve seen this year so far. We continue to see an abundance of new listings coming out and not as many sales. I rack this up to as potential buyers (investors and end users) wait for interest rates to drop. We’re definitely seeing this in the condo market more than the single-family home market.

In actual numbers:

In C08 (Yonge east to the Don Valley, Bloor to the Waterfront), there were 417 new listings in March and 128 sales, which is roughly only about 30%.

In C01 (Yonge west to the Dufferin rail tracks, Bloor to the Waterfront), the numbers were slightly higher – 757 listings with 256 sales, which means roughly 1/3 of the listings sold.

That may seem low, but even in the hottest market you’re lucky to see 60% of the homes listed actually sell. The number of properties being listed is lower than what’s being reported. I’m seeing listings being re-listed and refreshed, which skews the numbers. (Each time a property is re-listed, it counts as a new listing.)

What’s to come this spring?

I believe we’ll see a continued trend of more properties coming out on the market and fewer sales across the board. In specific sectors, we’ll see a higher percentage of single family homes selling, compared to condos.

Until interest rates come down, there won’t be a substantial change in activity levels even with the changes in the Federal budget.

I always like to highlight opportunities in the market. While it’s never good karma to take advantage of someone’s circumstances, there are deals to be had on condos. Some (though not many) sellers have to sell. There are definitely units that have been on the market for a while and are not getting traffic. When an offer comes along, the sellers are thankful to see it. It’s not desperation - people are just generally ready to negotiate because they want to get their property sold, especially if it has been on the market for so long.

I know buyers are waiting for interest rates to go down, but I don’t think it’s sunk in for buyers that this interest rate climate is probably the new normal for a while to come. We’re unlikely to see rates as low as they were in 2020 any time soon.

If you're curious about what's happening in your neighbourhood, please get in touch! 

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April 2024 Newsletter: Best Fish & Chips in TO - Hot Docs Returns - How to Update a Bathroom Without Buying Anything New

Happy Spring... a time when we're re-energized, renewed and refreshed... and that includes my website. Take a peek at the revamped www.BE-AT-HOME.com and let me know your thoughts!

Scroll down and I've got some market predictions, bathroom upgrade ideas, and places to find the best fish & chips... as well as some exciting new property offerings!

Also below, and despite a little controversy, Hot Docs is set to return at the end of April with a full range of programming, from a film about trans-trendsetter Jackie Shane to films about world politics, and the climate.

As for the market, the unseasonably warm weather this winter led to a busier-than-usual market in March, and with signs pointing to an interest rate reduction coming this year, we anticipate the spring market will continue to be busy as more listings are hitting the market each week!

Click here for the full newsletter

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New property listed in Cabbagetown-South St. James Town, Toronto C08

I have listed a new property at 103 77 Maitland PL in Toronto. See details here

Welcome to Celebrity Place!! Stylishly renovated, 2 bedroom, 2 baths, "Garbo Suite" (851 Sq Ft as per builder plan) with an open concept modern kitchen, updated baths and an entertainer's dream living space with wood floors & walk-out to a massive private garden terrace. The private second bedroom is perfect for couples that desire a "work from home" alternative or those that wish to cost-share. The suite is flooded with the warmth of natural morning light. This is a very well run, secure and superbly cared for complex where convenience is key, being only steps to all the city has to offer. Transit, shopping, Loblaws, Farm Boy, Metro, Yonge & Bloor, Varsity theatres, parks, great restaurants... who could ask for more!

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New property listed in Church-Yonge Corridor, Toronto C08

I have listed a new property at 706 155 Dalhousie ST in Toronto. See details here

Rare, west-facing Merchandise Building, one bedroom loft with stellar city views. Well maintained, recently painted and ready for you personal touches. An expansive sun-soaked suite with a raised private bedroom (with a ton of storage underneath) featuring massive concrete pillars, soaring ceilings and impressive barn doors. Don't miss the amazing amenities which include, 24-hr concierge, a 5-star gym & an entertainer's dream roof top terrace with BBQ's, party room, kitchen, indoor pool and dog-run. If convenience is a deciding factor in your next home, this location has it all being steps to groceries at the Metro, transit, Eaton Centre, TMU, financial core, theatre, libraries, restos and more. Merchandise Lofts can't be beat!

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February 2024 Newsletter: Best 24-Hour Restaurants - Sugar Shack TO - Behind the Headlines: The Truth about Toronto’s 9.5% Property Tax Surge, TRESA Turmoil, and the Countdown to Interest Rate Announcements
We might be in the shortest month of the year, but the city is brimming with exciting upcoming events. One in particular to keep watch for is Sugar Shack TO... maple syrup enthusiasts unite!! And, if you’re a night owl, the city has got you covered with some fantastic 24-hour dining options.

The Bank of Canada chose to hold interest rates steady at the end of January, but even without a rate decrease, we're seeing more activity in the market, including a return to multiple offers because there are so few properties on the market. If you are considering making a move this year, now is the time to get started!

Click here for the full newsletter
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New property listed in Church-Yonge Corridor, Toronto C08

I have listed a new property at 2309 281 Mutual ST in Toronto. See details here

Radio City! Fully Renovated "Right To The Studs", Modern, One Bedroom (Approx 600Sf) W/Locker And Expansive Sun Soaked East Lake Views, Oversized Balcony, High-End, Crisp White Kitchen With A Ton Of Storage. Ready For end of May Occupancy. Don't Miss The 5-Star Facilities Including stunning party room, lounge, billiards, Fitness Centre, 24Hr Security, Guest Parking & Guest Suites. Steps To Neighbourhood Shops & Ttc, & Minutes Away To Easy Access To The Dvp.

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Toronto's Post-March Break Housing Surge: Will Listings Translate to Sales in the Spring Market?

In the first three days after March Break, the Toronto housing market was inundated with new listings. Will that translate into sales? We’ll have to wait until the March numbers are released, but one thing to keep in mind is that in February, the average single family home was on the market for 26 days, while the average condo took 41 days.

The spring market traditionally begins after Easter, but because we’ve had the warmest winter on record since 2009, house hunting has become more appealing and with the exception of March Break, it’s been a busy month!

One thing is for certain - there’s less emotion in the market than there was before, especially for condo buyers. Buyers are confident that they’ll find what they want. Last month there were about 4,400 condos on the market, including 2,237 that were listed in February.

There also doesn’t seem to be any sense of urgency around units that are usually in high demand which is adding the amount of time properties are staying on the market. Add to that, a lot of listings are being terminated and then relisted either at the same price or at a lower price which increases the "property days on market" even more.

The reason this is happening is people are still testing the market looking for a deal. When it comes to condos, if they are looking to purchase, they are being careful and waiting patiently for the right opportunity.

Case in point, a unit at the Massey Harris lofts (not my listing!). It shows beautifully and they don’t come up very often, but after three weeks, the price was lowered. It went from $1,149,000 to under $1M and as of this writing, it’s still on the market.

Single family homes are a different story. One thing I’m noticing is that so many sales are significantly over asking (like hundreds of thousands of dollars), which could partly be due to underpricing, but also people are expecting an interest rate drop and they’re trying to get ahead of the expected uptick in the market because of lowered rates.

I think when we get the March stats, we’ll see the price of condos remain fairly stagnant, but there will be price growth in the single family home market.

The media is also driving the market. If you read the headlines, you see things like “First-Time Buyers Are Bringing On Bidding Wars And Closing In On $1M Listings”

“What will Toronto's spring housing market look like? Experts say first-time buyers are back — and prices could jump 6% this year”

I often am asked when is the best time to make a move and my answer is always the same. You can try to strategize the market and time it perfectly, but it's rare that one ever hits the bottom or the top of the market. Those that succeed most in real estate, are those that ride allong the middle over time. Quite, honeslty, it always comes down to making a move at the time that’s best for you.

I can’t predict if there will be a substantial difference between what’s happening in the market now and what will happen later this spring. Even if the Bank of Canada decreases the interest rate, it’ll be a quarter of a percent, which will give people some positivity. It may drive a few buyers forward, but I don’t know whether it’ll be substantial.

If you’re curious about what’s selling in your neighbourhood or just want to talk real estate, give me a call!

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New property listed in Waterfront Communities C1, Toronto C01

I have listed a new property at 427 75 Portland ST in Toronto. See details here

Tranquility In The Midst Of Covetable King West . Yoo Design By Philippe Starck. All White interior palette w/ refinished wood flooring creates a soothing, spa-like aesthetic. in this one bdrm plus den condo. Modern, Scavolini Kitchen w/ the cleanest of lines, an enviable prim. bdrm w/frosted glass doors & massive closet, and a party-sized balcony with bbq hookup will definitely move this suite to the top of your list. If convenience is in your cards then this neighbourhood can't be beat. Restos, lounges, parks, transit, shops, Queen West, financial core all only steps away!

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New property listed in Waterfront Communities C8, Toronto C08

I have listed a new property at 1909 33 Mill ST in Toronto. See details here

Pure Spirit Condos! If You're Looking For A Stunning Urban City View, This Is It! Well Laid Out One Bedroom Plus Den Suite With Parking And Locker And An Awesome Urban view. It's Gorgeous! In The Heart Of Historical Distillery District, Steps To St Lawrence Market, Theatre, Restos, Park, Transit, The Lake & Beach, Shopping & Lcbo On Queens Quay Or The Market. You Can't Ask For More!

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New property listed in Cabbagetown-South St. James Town, Toronto C08

I have listed a new property at 103 77 Maitland PL in Toronto. See details here

Welcome to Celebrity Place!! Stylishly renovated "Garbo Suite" (851 Sq Ft as per builder plan) with an open concept modern kitchen, updated baths and an entertainer's dream living space with walk-out to a massive private terrace. The suite is flooded with with the warmth of natural light. This is a very well run and superbly cared for complex where convenience is key, being only steps to all the city has to offer. Transit, shopping, Yonge & Bloor, Varsity theatres, parks, great restaurants... who could ask for more!

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New property listed in Niagara, Toronto C01

I have listed a new property at 711 90 Stadium RD in Toronto. See details here

Bright And Open Suite, Very Functional Layout. Beautifully Finished With Granite Counter Tops, Stainless Steel Appliances, Light Laminate Floors In Living Space And Warm Broadloom In The Bedroom, Juliette Balcony Looking Towards The City With View Of The Cn Tower. Excellent Location Down By The Water. Ideal For Walkers And Sports Enthusiasts. Very Easy Access To Lakeshore And The King West Area, Ttc Just Around The Corner.

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