Condo Lease info for Greater Toronto – January/2012

Toronto, January 20, 2012 — Greater Toronto REALTORS® reported the leasing of 4,664 condominium apartments during the September to December 2011 period – up two per cent from the 4,563 units leased during the same time-frame in 2010. While the number of transactions was up, the number of apartments listed for rent through TorontoMLS during the last four months of 2011 dropped by seven per cent compared to the same period in 2010.

“The rental market for condominium apartments is very tight in the Greater Toronto Area. Growth in rental transactions outstripped growth in listings throughout 2011, even with strong condominium apartment completions,” said Toronto Real Estate Board President Richard Silver. “In line with tightening market conditions, the CMHC condominium apartment vacancy rate for the GTA dropped in 2011. The end result was robust increases in average rents.”

Average condominium apartment rents for one-bedroom and two-bedroom apartments rented during the September through December 2011 period increased by four and five per cent respectively in comparison to the same period in 2010. The average annual rate of increase for one-bedroom and two-bedroom rents was above the rate of inflation in the second half of 2011.

“The number of renters looking for apartments with modern finishes and amenities has steadily increased. The main source for these types of units has been investor-held condominium apartments. As renters have flocked to this segment of the rental market, upward pressure on rents has increased,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Rental Market Summary Tables: September – December 2011
Apartments
All Bedroom Types				Bachelor				One-Bedroom				Two-Bedroom				Three-Bedroom
Listed		Leased		Leased		Avg. Rent		Leased		Avg. Rent		Leased		Avg. Rent		Leased		Avg. Rent
2011	7,930		4,664		109		$1,289		2,465		$1,564		1,954		$2,062		136		$2,236
2010	8,483		4,563		129		$1,211		2,457		$1,498		1,874		$1,958		103		$2,225
Yr./Yr. % Chg.	-7%		2%		-16%		6%		0%		4%		4%		5%		32%		0%
Source: Toronto Real Estate Board
Townhouses
All Bedroom Types				Bachelor				One-Bedroom				Two-Bedroom				Three-Bedroom
Listed		Leased		Leased		Avg. Rent		Leased		Avg. Rent		Leased		Avg. Rent		Leased		Avg. Rent
2011	712		348		2		$1,313		31		$1,341		112		$1,759		203		$1,945
2010	744		343		4		$1,131		28		$1,308		97		$1,671		214		$1,771
Yr./Yr. % Chg.	-4%		1%		-50%		16%		11%		2%		15%		5%		-5%		10%
Source: Toronto Real Estate Board

Parkside Towers (B2) – World On Yonge

Parkside Towers (B2) is in the final phase of residential condominium buildings in this mixed use development called World On Yonge.  Located just a couple of blocks north of  Steeles on the East side of Yonge St. is a master planned mix of commercial, residential and retail shopping that will change this area of Toronto forever.

Currently under construction with closings for Januray of 2015 and later you will need to be a long term planner to get in on these units.

All of the suites will have 9′ high ceilings and laminate flooring through-out. The suites will be finished with European style kitchen cabinets,granite countertops, Ceramic Backsplash, 4 Stainless Steel appliances plus white stacking washer/dryer. Hydro is not included in the $0.49/sq. ft. maintenance fees since each unit will be metered individually.

Amenities include Party/Multi function room and a membership in Club Liberty which includes an exercise room, whirlpool, indoor pool, sauna and change rooms, card and billiard room as well you will be ablt ot BBQ on the outdoor green roof terrace.

There are 211 suites over the 18 floor levels of this building

1 Bed – One bedroom suites start at $267,000 (530sq.ft.) and go as high as $277,000 (559 sq.ft.)

1+1 – One bedroom + Den start at $312,000 (610 sq.ft.) and go as high as $371,000 (755 sq.ft.)

2 Bed. – Two bedroom suites start at $397,000 (770 sq.ft.) and go as high as $422,000 (870 sq.ft.)

3 Bed – this suite is on the 2nd floor and sells for $446,000 for 998 sq.ft. of space.

3 Bed + Den – this suite sells for $656,000 (1,250 sq.ft.) and is available on the 16th, 17th, 18th and Penthouse levels.

Parking spots currently sell for $28,000 including HST.

 If you have an interest in buying or selling in the North York, Richmond Hill or Markham area and would like to discuss the current market, please  fill out this contact form or call me directly at 647-295-4854.

To search 100’s of Condos currently for sale – Click Search Markham / Richmond Hill MLS Listings and contact me for up to date details and market analysis.

RE/MAX Hallmark Listings – January 18, 2012

Keep up to date with our new listings from across the GTA. See what other properties are listing for in the different areas. For further information on any of these properties contact Jeff @ 647-295-4854

New RE/MAX Hallmark Listings

January 18th, 2012

Yonge:

Property:    223 Webb Drive #3208

MLS #:        W2268545

District:       Mississauga

Price:           $1,350/Month

Property:    375 King Street W #403

MLS #:        C2268188

District:        C01 – Waterfront

Price:           $289,900

Property:    375 King Street W #403

MLS #:        C2268197

District:        C01 – Waterfront

Price:           $1,400/Month

Mt. Pleasant:

Property:    1 Lomond Drive #201

MLS #:        W2267429

District:        W08

Price:           $1900/Month

Property:    5 Chester Avenue

MLS #:        E2267902

District:        E03

Price:           $749,000 

Property:    945 Ormond Drive

MLS #:        E2267324

District        Durham

Price:           $429,900         

Property:    33 Wolverleigh Blvd

MLS #:        E2268219

District:        E03

Price:           $649,900

Pape:

Property:    74 Wolverleigh Boulevard

MLS #:        E2268233

District:        E03

Price:           $1900/Month 

Property:    111 Lindsay Avenue

MLS #:        C2268193

District:        C01

Price:                    $575,000 

Property:     2GladstoneAvenue PH803

MLS #:        C2268291

District:        C01

Price:                    $429,900

Queen:

Property:     4ASammon Ave

MLS #:        E2268608

District:        E03

Price:           $599,900

Property:    66-76 Kippendavie Ave #219

MLS #:        E2268511

District:        E02

Price:           $424,900

Property:    66-76 Kippendavie AvePh# 409

MLS #:        E2268514

District:        E02

Price:           $879,900            

Property:    30 Hibbard Dr

MLS #:        E2268297

District:       Ajax

Price:           $319,000    

Property:    750 Glencairn Ave

MLS #:        C2268541

District:        E04

Price:                     $1,699,000

Property:    361 Front St #2609

MLS #:        C2268525

District:        C01

Price:           $369,800

Property:    1531 Narva Rd

MLS #:        W228513

District:       Mississauga

Price:           $1,799,000

Miracle at Yonge

Miracle at Yonge is a gorgeous condominium located on King William Crescent in the Red Maple and Bantry area within 1 block of Yonge Street.

There is a variety of  1 Bed.(625 -670 sq.ft.) , 1 Bed + Den (710 sq. ft.) and 2 Bedroom suites (890 – 960 sq.ft.)  available to choose from.

All suites are equiped with 4 Stainless Steel appliances in the kitchen and a White Stacking Washer/Dryer for the laundry. Kitchens are nicely finished with granite countertops, undermount sink and ceramic backsplash.

Laminate flooring is standard in the living areas with broadloom in the bedrooms and den areas. 

Prices start around the mid $200,000 and include 1 parking spot and 1 locker.

Add to this a fabulous amenity component – like party rooms, with catering kitchen and bar, a media/billiards room, a full exercise studio with a yoga/pilates room, a 24-hour concierge.

You are within easy walking distance of shopping, dining and entertainment. Major transportation links include Hwy 404 and Hwy 407, GO Train to Union Station and direct GO Transit and York Region Transit bus service straight to the TTC subway at Yonge & Finch.

With stylish parks and well equipped playgrounds throughout the area, there’s wonderful green space for everyone to enjoy all year round.

MISTA – Markham International Sports Training Academy

Markham has a plan to elevate the future of amateur sport in the province and create a level playing field for Ontario athletes, with great big dreams.

 The Markham International Training Academy (MISTA) is innovative multi-sport training facility devoted to athletes dedicated to aspiring young athletes with national, international and Olympic dreams.

 After several years pouring over ground breaking ideas, Markham planners have come up with an exceptional model for the long overdue Canadian Sports Training Academy – (Canadian Sports Institute Ontario)

So far, Pan Am planners have failed to come close to fulfilling the promise of accessible, stand alone, sustainable facilities for 2015, Markham’s CSIO proposal is second to none.

 MISTA in Markham — is a vision of what Sport Facilities will become.

 We believe this is the most exciting concept for sport in decades.

• MISTA will be — a Game Changer for athletes at every level
• Ease of access in the GTA GO Transit–the 404 and 407 highways
• Adjacent  Bill Crothers Secondary a Sports centric High school
• Pan Am 2015 is not just a project  it must leave a legacy for sport
• A total sports environment  with Office space for all organizations
• Medical testing, and training facilities for all sports on site

 

We feel Provincial and National Organizations possess a huge influence on future plans for legacy facilities, simply because dedicated volunteers provide invaluable support for a multi-sport games.

Search 1000’s Of York Region Condos

The process of searching for a condo in York Region is not often an easy one.  The good thing is ~ I just made it easier for you.  The links below will save you an incredible amount of time.  Each link will allow you to view condos currently for sale in each area specified.   Just one more click to preview 1000’s of condos currently on the market complete with photos, prices, and details for each listing.

Richmond Hill Condos Below $200,000

Richmond Hill Condos $200,000 – $300,000

Richmond Hill Condos Above $300,000

Markham Condos Below $200,000

Markham Condos $200,000 – $300,000

Markham Condos Above $300,000

Search Properties by Area

If you have an interest in Buying in or Selling and would like to discuss the current market, please Fill out this contact form

or call me directly at (647) 295- 4854

When is the right time to buy?

A client recently asked me ” When is the right time to buy?”.

The mortgage broker that they are working with said “the winter was the best time to buy because there were fewer people looking to buy in the winter and that they could negotiate a better deal”.

The right time to buy is an open ended question. Is it the right time to buy based on the current mortgage rate at the time? Is it the best time to buy based on the current economic condition within the country? Is it the best time to buy based on your own time frame ie: your current lease is up in 3 months.

I think it is nearly impossible for anyone to say exactly when the right time to buy is. What is right for one person might not be right for another. Everyone has their own set of criteria that triggers the time to buy, it might be financial, it might be certain characteristics of a particular house, it might be job related or it might be a change in the family dynamics.

What I can tell you is that when it is time for you to buy a new home you need to find someone that can help guide you through the process of purchasing that new home. What are the needs of your family unit, where do you want to live, what type of home and what features in the home do you require to make it the perfect home for your current requirements.

There is no correct answer to the question however you generally know yourself when the best time to buy is because you and your family are ready for the process to begin.

I wish everyone all the best in finding that perfect home for yourself.

 

April /09:

If you speak with a mortgage broker and ask about what the interest rates are going to do you will probably get the following answer.

“The current best rate available for a 5 year fixed mortgage term is 3.85% and is not likely to go much lower and with reasonable expectations for rates to be 5% – 6% for the same 5 year fixed term in the years 2010 and 2011.”

 The selling pricing on the houses and condominiums has softened somewhat but do not expect to see the drastic decreases seen in the USA.

If you are looking to get into the housing market and you are fairly confident in your job then in my opinion this is probably the best time to get into a house or condo and lock in a 5 year fixed rate mortgage.

As far as mortgages are concerned I recommend finding a good mortage broker rather than using a bank. The banks are not geared towards helping you with your situation if you are a square peg trying to fit into a round hole.  The mortage broker on the other hand will guide you through the process and help wherever possible to see that you get a mortgage.  Keep in mind that they are not miracle workers and ultimately all of the numbers must be correct and legitimate.

All the best with your house hunting and should you require any assistance please contact and if I am unable to assist you then I will point you in the right direction. Please keep in mind that these comments are my own personal opinion and that you should always seek advice from trusted experts in their respective areas.

#11 Oneida Crescent, Richmond Hill – 1+1 Condo Available

 

This beautifully decorated 1+1 condo is currently available for sale.  A great starter unit for the single person or the young couple embarking on a life together. The additional living space can be used a dining room as shown in the pictures or as a work at home office separate from the living/dining area.  Located on an upper floor and facing east across Red Maple you get the early morning sunshine and a pleasant view of the recently completed park area.  The exterior balcony featuring glass see through safety panels is accessable from both the living room and bedroom through sliding doors. This balcony design is the largest available on any of the suites in the building. The kitchen includes an upgraded fridge, stove and dishwasher.

The unit includes: 1 parking space, 1 locker, and an ensuite laundry featuring stacking washer and dryer units.

The building amenities include: Move-in room, mail room, 2 furnished Guest Suites. The central lobby and 24 hour Concierge are shared with the sister building 23 Oneida.

The indoor recreation amenities include an entertainment room complete with kitchen and bar area, an equipped exercise room, Men’s and women’s change rooms, cards room/library and a billiards room.

Priced in accordance with current market conditions this condo is an excellent value and the sellers are willing to work with a closing date to suit your needs. To view this beautiful unit or for any additional information please contact Jeff at 647-295-4854.

7905 Bayview Avenue – Thornhill Condo

7905 Bayview Ave. – “Landmark of Thornhill” in Private Parklike setting. Located at Bayview and Greenlane south of Hwy 407 this is 1 of 3 luxury condos in the same complex. This building offers 12 floors and 26 units per floor of 1+1 , 2, 2+1, 2+2, 3 and 4 bedroom suite designs. Located close to community centre, banks, library, schools, shopping, restaurants, public transit to Finch Subway and Hwy 407 & 404.

Amenities include: tennis, squash, billiards, patios, indoor pool, exercise room, recreation room, steam and sauna room, 24 hr Security Gaurd and security system.

Prices range from : $277,500 – $650,000

I’ve provided the most recent Stats for sales at 7905 Bayview Ave. over the past 200 days. 

 

Field	Count	Mean (Average)	Median	Mode	Low	High
List Price	13	$401,331	$359,000	n / a	$298,000	$699,900
Original Price	13	$404,315	$359,900	n / a	$298,000	$699,900
Sold Price	13	$375,962	$350,000	n / a	$277,500	$650,000
% List	13	94.69	96	97	85	99
Taxes	13	$3,449	$3,225	n / a	$2,357.16	$6,540
Bedrooms	13	2.2	2	2	2	4
Washrooms	13	2.8	3	3	2	5
Days On Market	13	31	24	n / a	3	92

 Let me be your Markham – Richmond Hill Condo Expert.  If you’re interested in Buying or Listing a condo in my area, then contact me for Market Info.

7805 Bayview Avenue – Thornhill Condo

7805 Bayview Ave. – “Landmark of Thornhill” in Private Parklike setting. Located at Bayview and Greenlane south of Hwy 407 this is 1 of 3 luxury condos in the same complex. This building offers 15 floors and 24 units per floor of 1+1 , 2 and 2+1 bedroom layouts. Located close to community centre, banks, library, schools, shopping, restaurants, public transit to Finch Subway and Hwy 407 & 404.

Amenities include: tennis, squash, billiards, patios, indoor pool, exercise room, recreation room, steam and sauna room, 24 hr Security Gaurd and security system.

Prices range from : $258,000 – $343,000

I’ve provided the most recent Stats for sales at 7805 Bayview Ave. over the past 200 days. 

Field	Count	Mean (Average)	Median	Mode	Low	High
List Price	14	$299,221	$302,500	n / a	$249,900	$348,800
Original Price	14	$299,936	$302,500	$319,000	$249,900	$348,800
Sold Price	14	$293,936	$297,500	n / a	$258,000	$343,000
% List	14	98.36	97.5	96	93	107
Taxes	14	$2,661	$2,659	n / a	$2,477.71	$2,887.77
Bedrooms	14	2	2	2	2	2
Washrooms	14	2	2	2	2	2
Days On Market	14	15	10	2	2	58

 

 Let me be your Markham – Richmond Hill Condo Expert.  If you’re interested in Buying or Listing a condo in my area, then contact me for Market Info.