Hot Downtown Condo Market

The downtown Toronto market is extremely hot at the moment. I have been representing the owner of a downtown condo, assisting them in the sale of a condo at 18 Stafford Street - in the King West Village area.

The property was listed for one week, with 75 showings and 5 offers. It ended-up selling over asking with no conditions.



There are not enough one bedroom condo suites on the market right now to satisfy consumer demand. Too many buyers are chasing not enough properties. Clearly this is an excellent time to be selling a condo, but trickier to be the buyer.

This suite was beautifully prepared by the owner as well as staging from Julie Reinhart.

Thinking of making a move? Ask how I can be of help.

June Statistics - Record Breaker!

June 2009 turned out to be a very hot month for real estate in Toronto, as published in the Toronto Real Estate Board Statistics today.

10,955 sales in the month - the most in a single month since June 2007, and the monthly average price hit a new all time high of $403,972. If you were waiting for the bottom of the market, as your time to buy, well - that was last winter. Now we are in a rising market. It is a seller's market once again, with multiple offers and bidding wars becoming standard practice.

Real Estate is Baaack!

What a month it has been!

The pace of activity for the Toronto market has really picked up lately. Driven primarly by first time buyers and moderate move-up buyers, the Toronto real estate scene shifted this past month into overdrive. Suddenly multiple offers for properties, bidding wars and selling over asking has returned!

Toronto market statistics were provided by the Toronto Real Estate Board today.

Did you know the market prices have been rising steadily for the past several months?

For the month on May 2009, the Toronto average selling price rose by about $10,000 to $395,609, that is just off the all-time high figure of $395,866 set in May 2008. So that's up 2.6% from one month before, down just %0.6% from one year ago.

Given that there have been more sales in the low and moderately priced homes, once the higher-end homes start to sell more,there should be a further jump in average prices.

June was the busiest month since June 2007, with 9,589 properties changing hands.

Take advantage of this market opportunity... call Ralph Evans at 416 577-5486.

RE/MAX Report Gen X to flex new purchasing muscle in recreational property markets across Canada

RE/MAX has released its 2009 annual Recreational Property Report...

Mississauga, ON (June 2, 2009) - Generation X purchasers are poised to replace aging baby boomers as the major force in recreational property markets across the country, according to a report released today by RE/MAX.

The demographic shift was noted in the 2009 RE/MAX Recreational Property Report highlighting sales, pricing, trends and developments in 50 Canadian markets. The report found demand from Gen X (those born between 1965 and 1980) has nearly doubled over one year ago. Seventy-four per cent of markets surveyed this year reported a marked trend toward thirty-something buyers snapping up affordably-priced product, ranging from waterfront cottages to resort condominiums, compared to just 40 per cent in 2008.

"After being priced out of most markets for the better half of the last decade, Gen X purchasers now have the financial wherewithal to buy recreational product at virtually every price point," says Michael Polzler, Executive Vice President, Regional Director, RE/MAX Ontario-Atlantic Canada. "Gen X is ideally positioned to pick up any slack in recreational property markets caused by softer demand from baby boomers and retirees. They represent the next wave of recreational property owners in Canada and they know it."

Read RE/MAX 2009 Recreational Property Report

From

Etobicoke Real Estate Agent - Ralph Evans

Power Networking Breakfast

Are you a business owner or sales representative, looking for more business? Here is an opportunity to meet other business people for a networking event and to learn more about getting business by referral.

Sponsored by the LeTip Etobicoke Chapter.

Toronto Front Pad Parking

I have been getting a lot of questions about the City of Toronto rules regarding front pad parking.

Here are a few things to help...

People buying a home with a front pad parking space need to re-apply to the city for a new license. The existing license belongs to the previous owner. It is not a right that is attached to the property. Thus we say it "does not run with the land".

Adding a new front pad parking space requires an application to the City of Toronto and their approval. The rules are complex for this, see the bylaw link below.

Existing licenses need to be renewed regularly to be permitted to kee the parking pad.

Resources:

Letter to Real Estate Agents about Front Pads

current list of Toronto homes with authorized front pad parking spaces

City of Toronto Front Parking Pad Bylaw

Parking Pad Application Form


- Ralph

Toronto - Multiple Offers

Surprisingly, Toronto is in another housing boom right now. It's mid-May 2009, the hot part of the spring market and we are seeing several homes sold with multiple offers and bidding wars!

The low mortgage rates are bringing more buyers into the market, at a time that there are is not an over-supply of homes for sale. Agents are holding back on accepting offers until a deadline date and pricing is getting agressive again.

This is back to 2005 - 2007 in terms of strategies.

I'm a Modern Professional REMAX agent in Etobicoke and I'm here to help you to make sense of all of this.

North Toronto

Last week I had the opportunity to return to North-Toronto, the part of Toronto where I grew-up. Given the population growth of Toronto and of the GTA, this hardly seems like the right name for the area any more!

I grew up on Belsize Drive, across from a small parkette. We considered downtown to start south of Bloor St. Certainly when this area was first built into housing in the 1920's it was still on the fringe of the City. Just up Yonge St, before Hoggs Hollow, south of York Mills and north of Lawrence was the city limits. The TTC charged another fare to go beyond that point.

I enjoyed my walk past the small stores along the Yonge St shopping district between Davisville and Lawrence. The stores are the same as I remember, but most of the businesses in them have changed. The Art Shoppe is still there and a few more long time businesses.

As a RE/MAX agent, I understand the many communities that make up the City and help people to find the neigbourhood that is right for them.

If I can help you, please let me know.

Ralph Evans - REMAX Professionals Inc, Brokerage

Back to Normal for Toronto Housing Market - April 2009 Toronto House Prices

Toronto Real Estate Board statistics for April 2009 show that the average price has jumped up by 6.5% since the month before to $385,641 with a volume of 8107 sales made in the month across the GTA - for houses and condos combined.

What this really shows is that Toronto Real Estate has regained almost all of its value, since the market peak. Average home values are now off just 3.1% from the market peak of May 2008.

Click to see larger image.

Expectation is for a further strong upward surge in volume and value as confidence returns to the country and economic numbers improve.

Let me know if you'd like more market information, or to get my help buying, selling and investing in real estate...

Ralph Evans
Sales Representative
RE/MAX Professionals Inc., Brokerage
Office 416 236-1241 Direct 416 577-5486
My website the RE/MAX RealEstateHelpDesk.ca

Getting Your Home Ready to Sell

Any real estate agent can put their sign on your lawn and say that your home is for sale. When you hire Ralph Evans to represent you in the sale of your home, you get so much more!

Ralph wants you to sell your home for more. More money than you would earn working with other real estate agents. How is that going to happen? It can be done by helping the homeowner to get their home ready for sale before it goes onto the market.

Only a few select RE/MAX agents are using these techniques to help their clients succeed. Here are some quick videos and checklists to explain some of the things that can be done to prepare a home.

1. Air Quality
                video
               checklist

2. Curb Appeal
               video
               checklist

3. Depersonalizing
               video
               checklist

4. Flooring
               video
               checklist

5. Furniture Placement and Lighting
               video
               checklist

6. Pre-Listing Home Inspection
               video
               checklist

7. Main Selling Rooms
               video
               checklist

8. Paint
               video
               checklist

9. Decluttering and Prepacking
               video
               checklist

10. Updates and Repairs
               video
               checklist

Ralph Evans
Sales Representative
RE/MAX Professionals Inc., Brokerage
Office 416 236-1241
Direct 416 577-5486
My website the RE/MAX RealEstateHelpDesk.ca