Thursday, February 28, 2013

1926 Lake Shore Blvd West, Toronto

Four Points Sheraton
1926 Lake Shore is the Lake front Hotel location at Windermere and Lake Shore Blvd., W.  The Hotel closed its doors October 15th.

Carttera's Urban Intensification Fund 2 acquires development site at 1926 Lake Shore Boulevard West, Toronto.

November 2012 Carttera's Urban Intensification Fund 2 recently acquired a 1.1 acre site located at 1926 Lake Shore Boulevard West in Toronto. This site fronts onto Sunnyside Park and has spectacular views of Lake Ontario, High Park and downtown Toronto. Carttera plans to redevelop the site as a residential condominium. Carttera - What's New 

1926 LAKE SHORE BLVD W OPA / Rezoning 13 125924 WET 13 OZ Ward 13 - Etob. York Feb 27, 2013 --- --- --- --- Proposed amendments to the Zoning By-Law to permit the development of 2 residential towers with heights of 42 and 48 stories connected by a 4 storey podium. A residential gross floor area of 78,625 sq m is proposed. The building will contain a total of 847 units, 613 parking spaces below grade, and 248 above grade.

Stand by for further updates...

How do you find an agent?

Lets start by making a plan for where you want to be. Call me at 647 218 2414

Monday, February 25, 2013

Land Transfer Tax makes RED HOT impact on Toronto Real Estate

The sales are up? The sales are down? Prices are falling? Who says? Are there more listings?

Lets look at the details;

There were 2,081 sales of detached homes in the Toronto GTA that encompasses the Toronto real Estate Board.   In case you missed the details, 3 times as many home buyers selected a home in the 905 rather than the 416.  This same ratio continues in all categories except condos. If there was ever a more glaring example of inequity it is the ADDITIONAL Land Transfer Tax. Previous conversations; CD HOWE reports on Land Transfer Tax Impact 

Lets examine the AVERAGE DOLLARS

I am not a statistician but average means AVERAGE. The average house sale in Toronto was up 2.7% for a sale price of $ 765,000 on 502 units.  [ Before everyone gets on a TITHER on t How can people afford a house program just check out this link...  Average is actually $270K ]   Sales in the 905 were TRIPLE for the same period and their prices increased 6.8%

So when people say: Is the market up or down?

We can say condo prices in Toronto are down almost 5% over last year but prices have adjusted only by One Percent. Detached homes are up 4.8%  SO really there was no change at all. The number of listings has been slow to feed the demand of Toronto Home Shoppers and we will continue to see Bidding Wars.  

Ready to get started?  Teaching your child to ride their bicycle inside the underground parking garage or in the hallway is not the same as being on the street in front of your own home.

Sunday, February 24, 2013

Does your CONDO use Hotel style Access Cards?

Key Card Access
The concept is simple enough. Technology allows a card (plastic card with magnetic strip) to provide temporary or authorized access to a suite door. The security is good, cards are unique but unmarked. If they are lost or stolen they have no markings that identify their origin.  They cannot be duplicated without authorization and the correct (computer program) device. 

If you are locked out or lost your keys, the concierge staff could provide access and then you merely reorder a replacement door key.

This has obvious advantages for rental properties as keys are passed from tenant to tenant over a number of years and potentially dozens could be in play.  Using cards makes them annually renewable and provides the security of deactivating a number of cards remotely.

When a Suite is placed for Lease or Sale; typically owners provide the key for the CANADA POST mailbox to use in a lockbox (held at Concierge Desk). Agents [THEY] open your mailbox and retrieve the access card. This creates an opportunity for "OTHERS" to read your mail and it could adversely impede your negotiation position. 

Please consider providing and using a FOB. This eliminates one entire step to assist REALTOR showings and still protects your privacy. The Fob is generally programmed for the suite and all common area doors; Gym, Party Room, Billiards etc.

The key itself is maintained in the lock box and Nosey Nellie is not reading your mail.

DEMAND to have your offer presented in person

You are selling your house.. I want to present my offer in person... 
Why? I represent the interests of the Toronto BUYER and I want to ask these simple questions. 

Was this house every used for Notorious means? Death, Grow Op, Drug House? What else is on this street? REALTORs are required under the Real Estate and Business Brokers Act [REBBA] to disclose any “material facts” that could affect the value of a property, including a murder, suicide or suspicious death. Is there anything in this house that would negatively impact my buying decision? Is there anything on or in the YARD of your property that impacts my decision? Maybe a buried Oil tank or septic bed? Is there anything happening in the neighbourhood that should be aware of when considering your home? I should know about new hydro towers, wind turbines. Buying a house is not just sending in a FAX or email Offer. Its getting all the answers so you can make an informed decision Call me 416 233 9000

Wednesday, February 20, 2013

Are you really my client or just a customer

When you call on a FOR SALE sign; that agent is under contract with the seller of that house.  Where did you get the idea that they own you anything when negotiating, or negotiating for you at all?

Here is a clear and concise explanation of Buyers Agency and Representation from RECO  [Real Estate Council of Ontario]

When working with an agent to show you Homes in Toronto, they have a clear obligation to show you all the homes that are suitable and in your price range. Will they skip some?   Sure.  Those that are listed 5 times and still over priced, grow houses, poor locational placement on the street, dis repair, deferred maintenance and problematic sellers.  Or do we WANT look at all 19,000 listings?

Ready to start your home search?

You can start here.

Tuesday, February 19, 2013

Toronto Condos Return Profit on Investment

Tell me again about the ACTUAL Rate of Return in Toronto condo and real estate market.  By leveraging your 20% or 30% down you can have a return on your entire portfolio value.

Where would you like to put your investment in the GTA's continuing real estate market? 

Just be careful what you buy...  Get informed advice. 

Maybe you would like to conduct your own search.

How can I help you?  416 233 9000

Monday, February 18, 2013

Never (Ever!) Offer a Distressed Seller This…

You have all seen the flyers  left on someone's door explaining that (he) was a real estate investor, could buy his house, pay cash and close quickly. Unimaginative, I know, but effective.

Jack was behind on his mortgage and needed help, Quickly. The POWER OF SALE Eviction date was less than a week away. I knew this because, desperate and out of options, he called after finding the bright yellow letter.

I was a little nervous to meet with him. After all, Jack had over $80,000 in equity in his home. He had procrastinated in dealing with his situation for so long but with careful negotiation he could score himself a home run.

As we sat at his kitchen table, Jack described his financial situation. He was disabled from a previous job and living off the insurance. Some unexpected expenses came up and he couldn't pay his mortgage. He got behind and just couldn't seem to catch up. Sad, but not uncommon. I’d heard many stories like his before. I listened carefully and told him I understood.

There are still some options even at this stage;  Legal involvement in your situation, refinancing your program and getting you on your feet or simply to move out.

Controlling your own sale permits you the option of redemption until the Banks Sale goes through. Your mortgage holder will be reimbursed in this order

  • The Condo Maintenance Fees
  • Municipal Property Taxes
  • Lawyers fees
  • Sale Expenses
  • Interest Expenses
  • Then the balance is paid to principal

Now you are responsible for the deficiency (remaining) balance. That's what power of sale means. The Power of Sale Demand Notice is for both possession and the balance outstanding. In Canada when a property is foreclosed upon a Lender takes control of the Asset ( It now becomes their asset ) 

Veronica Thompson is a licensed Mortgage Broker providing First and Second Mortgages, Refinance approvals plus We can provide solutions to your money problems quickly. Some of the issues we have dealt with are helping you create household budgets, consolidations and refinancing.

There are many reasons why you need mortgage or credit assistance; we've heard most of them, so don't hesitate, give us a call             416-410-1150        or send me an email.
Veronica Thompson, a Mortgage Agent with Mortgage Alliance Accumetrix (License #12036) concentrating her efforts in the Toronto GTA that includes Mississauga, Brampton and Oakville. Ask a question or Get Help Here.

Thursday, February 14, 2013

100 Most influential Realtors on Twitter

David Pylyp   Most Influential Agents on Twitter

 Stefan Swanepoel published a list of 100 influential and interesting people within real estate. It’s an interesting list and got a few of us (myself included) a bunch more followers.
twitter-logo_000However, set aside for a minute that he missed a whole bunch of influential people (which he is already revising) the reality is that a lot of people on his list just aren’t that interesting (and many border on being twitter spammers).   If you’re a real estate professional new to twitter and you started following some of those people, I can only imagine twitter would start looking like a big wasteland of crappy tweets.
However, I think a list of influential people could be a really good thing, especially for people new to twitter…  I’ve had this idea for measuring “twitter influence” within a community, and Stefan’s project finally pushed me to build a prototype.   The idea is to measure, as objectively as possible, the influential people within a twitter community.
So what is the criteria I asked myself;

Although I have been published on Huffington Post, the CBC, and Tech Vibes  I haven't  made the list. Real estate sales is about people who do business with you, if they like, know and trust you. Post your reviews... be seen. Etobicoke - Toronto. The real deal with a real office in a virtual world of realtors.  Let me show you what I can do. Toronto / Etobicoke. 

Wednesday, February 13, 2013

Sorry that you were misrepresented on that Rent to Own

Was it presented to you as a good deal? 

This Rent to Own program that gains favour from time to time.  I ranted about this extensively during the 2008 Credit Crisis when all the North American markets CLENCHED shut for about 6 months into January of 2009 when [Obama] the AMERICAN GOVERNMENT released the Bail out Money. People  will try to take advantage of others misfortune.

Those very same factors are in play right now in Ontario [the Toronto west GTA] with Tightening Credit Criteria from CHMC, shortened amortizations and stricter verification to qualify for a mortgage processes.

This program is especially appealing to those who have strong cash flow but less than stellar credit.   It has value in the fact that you can afford a "DEPOSIT" in addition to the First and Last Month's rent on the Rental, and Money will be added to your deposit on a monthly basis at $200 or $300 from the over inflated amount paid.  Well thats the way you planned it and understood it to be.

This contract usually has a fixed selling price for a future date or an OPTION to Purchase.  These must be clearly spelled out in the contract.  If the market adjusts; you need to have an out, but what about the payments you have already made, Will you get those back? WHO will finance an over priced purchased because you have a fixed closing date?

Risky Business
Toronto real estate lawyer Bob Aaron said all sellers take that risk, when they sign up for rent to own.
“There’s a fringe of investors all over the country who make money teaching courses and putting buyers and sellers together with rent to own,” said Aaron. “The biggest problem is: how do you get rid of a bum [tenant]?”
Real estate professionals said tenants also risk losing the money they put toward a purchase.
“There’s no accountability with this kind of system,” said Samantha Gale of the Mortgage Brokers Association of B.C. “You don’t have some kind of standards which are adhered to and you don’t have any kind of recourse.”Because operators like Burnett are not licensed or regulated, when deals go south, consumers have no recourse but to launch court battles.
The article points out potential pitfalls from the unsuccessful negotiation of a "deal".  I work with a Credit Repair Counsellor [Veronica Thompson] who is also a licensed Mortgage Broker to interview and help prospective purchasers secure a property.

If you are not dealing with the underlying issues that make you candidate for Rent to Own, a lack of financial records, low credit score,  poor job stability or divorce...   what makes you think that in 5 years your credit will be better to instantly qualify for a mortgage based on a future value.

Have you ever changed your mind after a few years?

What do you think?   Is rent to own your only option?

Friday, February 8, 2013

De-Clutter Organise and Re Purpose what you have

Getting more money for your home is possible. Would you like to know how?

Our Team of professionals can help you Organise and de-clutter to make your home feel larger.

By using your own furnishing we can re-purpose many things in your home to make it look warm, fresh and inviting. Would you like to know more?

Talk to your local Toronto real estate professional now.

David Pylyp Group

416 233 9000

Tuesday, February 5, 2013

Park Lake Residences Toronto

Your Pied a Terre in the City.

A newly built and Freshly Painted Two bedroom Suite with two spacious bathroom at the luxurious Park Lake Residences, located at Lake Shore and Ellis Ave., right at Sunny side Beach.

This building is a two tower structure with a centre podium that houses an open air terrace for BBQ's and Lounging.  Sight lines are to Humber Bay Shore, the bay, The Humber River Bridge, The North Views include dramatic vista for High Park. There is a strong management team in place here with a Large Reserve in compliance with Reserve Fund Audit compliance.   All parking is above grade with 4 levels for resident garage parking and a main floor open air garage for visitors.

The access to transit is fed from the #80 #TTC Queensway Bus to Keele Subway, a Lake Shore EXPRESS #508 bus to Union Station and a 24 hour transit line alone Queensway / Queen Street ensures prompt and continuous access.

UPGRADES include  Hardwood Floors, Stainless Steele Hardware and Stainless Steel Appliances, Fridge, Stove, Microwave, Built in Dishwasher PLUS Stackable Washer and Dryer.   Kitchen has a Granite Counter top, under mounted Cupboard lighting and a subway tile ceramic back splash.  All existing window coverings remain with the property. Bathrooms include marble wall trim, floors and upgraded plumbing.

This Suite measure 860 square feet as per the builders floor plan. (Available)

Additional Property Details

Virtual Tour on Property

Additional Property Pictures Search W2551722

Showcased Property Brochure

This property is available for showings and occupancy Effective Feb 05th, 2013

Contact David Pylyp
Accredited Senior Agent
RE/MAX Realty Specialists Inc., 

416 233 9000

or direct at 
647 218 2414

Sunday, February 3, 2013

Have you taken the Better way recently?

Took the subway downtown recently to an event at the Metro Convention Center.  Subway stations were as I remembered them.  The crowds at 7 PM on a week night were not.  Rush hours now seem to start earlier and end later.   Transit relief lines are needed.   Subways need to be extended in all directions into the 905.  That include Peel, Durham, and North to  Markham.

Are you convinced that new revenues are required?
YesNoNot Sure

After you have completed the survey [ I didn't see SELECT subways ]   the conclusion asks are you willing to pay more??

Living in Toronto

Take the survey

It would appear to me that instead of taking action going forward on the decades of studies we already have;  there will be more public input on what we want.  What we want is less waste and lower taxes that are efficiently spent. 

I read thru and the conclusion asks very specifically are you now convinced that we need to pay more to fund our transit systems?  Are we ready to PAY more in Tolls and Taxes?

Our climate suggests that as roads get clogged with ice, snow, deliveries, double parkers, more condo buildings, fewer parking lots, more jobs in the city that we take a serious look at building underground. Real Estate sales Growth, net migration to Toronto for education, jobs, safe haven and family will push us to 6.0 Million inhabitants in the GTA in my lifetime.

Metrolinx is proposing a regional Transit Authority to move people better in the amalgamated GTA. Maybe its time has come.   I [taxpayers] have no more money for cost over runs and additional YEARS of construction delays and traffic frustration is costing business BILLIONS!

What are your thoughts?