Well-maintained Condominium at Bridletowne Circle (Finch & Warden)
A spacious and well-designed suite in the sought-after SkyGarden Complex at Finch & Warden, next to the Bridletowne Mall. Low maintenance fees. First-class Tridel building at top location in Scarborough.
Open concept Living/Dining Room plus Solarium. Huge Master Bedroom with Ensuite 4-pc Bathroom and Walk-in Closet. Large Den or Family Room (easily to convert to second bedroom) and 2-pc Powder Room. Ensuite Laundry and Storage Room. Indoor Parking Space and Locker.
Excellent amenities. First class features, including indoor and outdoor pool, spa, fitness room, 3 tennis courts, 2 squash rooms, driving range, pool room, security guards, etcetera.
Click Cover below to see a 3D presentation of our Featured Listing
We have re-designed our newsletter section and as from March 2006 this page will concentrate on Toronto real estate market news exclusively. What happened with the actual concept of a newsletter with interesting articles about real estate related topics? Starting this issue we publish our Newsletter in 3D Digital WebMagazine format. At this page you see a preview of some of the articles, but the 3D version not only has more content, but provides a much more pleasant reading experience as well. The 3D Digital WebMagazine comes with turnable pages (like a real magazine), without the need of scrolling up and down. You can easily save the magazine for later reading (even when you are not online) and the magazine has an option to make clean prints. No, you cannot compare it with Acrobat’s PDF format, because our DNL format is much more user-friendly: it downloads faster, you jump from one page to the other faster with just a click of the mouse, you don’t have to adjust the size in order to make the text readable, you don’t have to scroll and the quality of the full colour pages is much better. The only thing you need to do is to download the free DNL Reader, a small data file that comes without Adware or Spyware. You only have to download this Reader once. The 3D Digital WebMagazine is free to download, without the need to register or to provide your e-mail address.
We hope you enjoy the revised House Hunting In Toronto Real Estate News Letter.
Real Estate Sales Representatives
Coldwell Banker Case Realty
Sales of existing homes in Canada’s major markets set new annual records in 2005, according to statistics released by The Canadian Real Estate Association
Annual sales via the Multiple Listing Service® (MLS®) in Canada’s major markets totaled 336,071 units in 2005. Led by Vancouver and Calgary, the number of transactions rose 4.7 per cent over the previous annual record set in 2004. It was also the seventh consecutive year in which major market unit sales surpassed all previous annual records.
New annual sales records were set in a number of major markets in 2005, including Vancouver, Calgary, Edmonton, Winnipeg, Toronto, Hamilton, Kitchener, Montreal, Quebec City, Saint John and St. John’s.
Seasonally adjusted home sales via MLS® in Canada’s major markets totaled 27,919 units in December 2005, a decline of 2.3 per cent compared to the previous month.
Seasonally adjusted activity was down 2.4 per cent in the fourth quarter of 2005 compared to the highest quarterly level ever, which was set during the third quarter of 2005
MLS® residential new listings totaled 534,631 units in 2005 compared to 512,489 in 2004, representing an annual increase of 4.3 per cent. New listings set new annual records in a number of major markets, including Toronto.
The annual increase in sales activity was slightly larger than the increase in new listings, which resulted in a slightly tighter market in 2005 compared to 2004. In keeping with the tight market conditions, MLS® residential average price set a new annual record at $266,206 – some 9.3 per cent above the previous record set in 2004.
Average residential price hit $272,184 in December 2005, an increase of 8.6 per cent compared to the same month in 2004. While average price remains strong, this was the smallest year-over-year gain posted since May 2005.
“The continuation of low mortgage interest rates, strong job growth and upbeat consumer confidence resulted in strong resale housing activity across Canada in 2005,” said CREA Chief Economist Gregory Klump. “Of those factors, interest rates played the leading role. Rising interest rates is the primary reason why housing activity in 2006 is expected to moderate compared to the record levels posted last year.”
This Time In The House Hunting In Toronto Real Estate Newsletter
Click the cover below to see our House Hunting In Toronto Real Estate Newsletter in 3D Digital WebMagazine format with additional real estate and home ownership related articles.
Install a programmable thermostat with a built-in timer. You can set it to lower the heat by a few degrees at night and when you’re away, or turn off the AC when you leave for the day. Contrary to popular belief, this method uses less electricity than having the AC constantly maintain a cool temperature! Your savings can easily pay for the cost of the thermostat (as little as $50) in the first year by varying the temperature just a few degrees at night or when you’re away. Just think of the savings over 5 or 10 years!
Of Title Fraud
More than 7.5 million Canadians own their own home. While owning a home may be the Canadian dream and a symbol of financial security, the value of our homes are proving to be an irresistible target for conmen
Criminals have found a new application for identity theft – real estate title fraud – and the Greater Toronto Area is at the centre of this growing criminal activity, according to industry experts who revealed the face of title fraud at a real estate fraud summit last year.
Sometimes it’s a case of stolen identity (a mortgage is taken out in your name), in other instances a home is stolen from under the owner when fraudsters forge phony documents, pay the land transfer tax to secure the title to a house and either sell it or re-mortgage it It’s a scam that’s causing major headaches for insurance companies. “In 2004, mortgage fraud accounted for 36 per cent of the claims we paid, whereas in 2000, it would have been closer to 15 per cent,” says Susan Leslie, vice-president of claims and underwriting for First Canadian Title.
A hot real estate market provides fertile ground and the depersonalized process of buying a house has made such schemes even easier to pull off. In a recent report to its members, the Law Society of Upper Canada faulted the easier access ascribed by the electronic land registry system, the increased competitiveness of money lenders, and the amplified pressure placed by clients on lawyers to close deals without due diligence.
Unfortunately, vigilance alone won’t fix the problem. The criminals are sophisticated, and often the victims aren’t even aware they’ve been scammed until the perpetrators are long gone and nearly impossible to track and the real fraudsters generally get away scot-free.
One protection against fraud is title insurance, which can be purchased for about $250 For a one-time premium, this policy provides relief from the following repercussions of title fraud:
– The cost of defending one’s right of ownership, which can cost tens of thousands of dollars;
– The stress and uncertainty surrounding the a resolution of title-related problems;
– The time spent waiting for resolution from the Land Titles Assurance Fund; and
– The loss associated with a fraudulent mortgage that is entitled to remain registered against the true home owner’s interest
The policy is effective from the date on which you took title to the property until you sell your home. Additionally, policy protects you from title problems such as defects that would have been revealed by an up-to-date survey, title defects including mortgages that were discharged but remain on title, and certain construction liens.
A cul-de-sac (originally in anatomy: French, literally “bottom of a sack” or “bottom of bag”) or dead-end street is a street with only one inlet/outlet. A cul-de-sac is usually differentiated by having a turnaround area at its closed end. In modern urban planning culs-de-sac are deliberately created to limit through-traffic in residential areas.
The use of culs-de-sac reduces the amount of car traffic on residential streets within the subdivision, thus reducing noise and the potential for accidents. It also essentially eliminates non-motorized traffic and most through-traffic. This, in turn, is thought to decrease crime and increase desirability, because very few people enter the neighborhood who do not live there, or are the guests of people who do.
A condominium, or condo for short, is a form of housing tenure. It is the legal term used in the USA and in most provinces of Canada for a type of joint ownership of real property in which portions of the property are commonly owned and other portions are individually owned.
Often, it consists of units in a multi-unit dwelling (i.e., an apartment or a development) where the unit is individually owned and the common areas like hallways and recreational facilities are jointly owned by all the unit owners in the building.
It’s often said that buying a condominium is buying a lifestyle. What does that mean?
Condominium living is different from owning or renting a single dwelling, town house or apartment, because condos have a dual nature. Condominium owners hold title to their units and share responsibility for the operating costs of the balance of the property (common elements such as lobbies) that makes up the condominium.
There are many advantages to condominium ownership. It may be less expensive than other types of home ownership. It can provide an “instant” sense of community. While someone else is shoveling the snow, you can participate in community decision-making.
But condominiums are not everyone’s cup of tea. Condominium corporations may set restrictions on such things as owning pets, or having an outdoor barbeque.
The condominium corporation is run by a board of directors elected by the owners. The board’s function is to manage the corporation. Major decisions are voted on at owners’ meetings. Under Ontario’s new Condominium Act, annual general meetings must be held within six months of the end of the condo corporation’s fiscal year to ensure that unit-owners have an opportunity to review the financial statements in a timely manner. Participation in community decision-making is a benefit of condominium living.
The “Days on Market” shows the average time it took from the date the property went up for sale to the date it had a sales contract. As you can see, it took on average about 45 days in January 2005 to sell a home, but less in all other months. Best months for home sellers were April and May.
Mississauga (MLS districts W12 to W20) had 608 sales in January, up seven per cent over the figure recorded in January of 2005. These sales averaged $305,464, a two per cent increase over last January. Breaking down the total, there were 201 sales of detached homes, which averaged $448,889; there were 171 sales of condominium apartments, and the average for these was $193,481.
TORONTO, January 18, 2006 — The first half of January resulted in 1,508 resale home sales in the Greater Toronto Area, Toronto Real Estate Board President John Meehan announced today.
“As usual, activity in the post-holiday season market is more moderate than during the peak spring months, but so far it is running at a normal pace for this time of year,” Mr. Meehan said. “Sales typically accelerate during the second half of the month and into February as the spring market begins to warm up.”
Ted Tsiakopoulos, Ontario Regional Economist for the Canada Mortgage and Housing Corporation, cited strong economic fundamentals as reasons for confidence in the Toronto market.
“Favourable interest rates, positive consumer sentiment and a respectable job market will ensure Toronto’s resale market will remain healthy in 2006,” Mr. Tsiakopoulos said.
Strong sales of condominiums played a significant role in one of the hottest markets in the GTA. In Toronto’s Downtown/Harbourfront area, sales of condominiums made up 89 per cent of the transactions, as overall sales in the first half of January outpaced last year’s total by 69 per cent.
The average price of a home in the Greater Toronto Area in the first half of January was $311,065, an increase of two per cent over the $303,236 recorded during the first half of January 2005.
Mr. Meehan added, ”The overall stability of the market makes it an excellent time to buy that first home or make a lifestyle change by switching to a different home.”
* Please note that TREB counts by business or sales days. In a 30 day month, there will usually be about 20 sales days, depending on when the weekends fall, holidays, and so on.
TORONTO – Friday, February 3, 2006 –The new year got off to a good start with 4,587 sales in January, up 10 per cent over the 4,153 figure recorded in January 2005, TREB President John Meehan announced today. “Last month’s result was the second best January ever recorded, and an eight per cent increase over the 4,255 sales recorded in December,” Mr. Meehan said. “This certainly bodes well for the resale market going forward into the new year.“
On the pricing front, the GTA-wide average came in at $332,687, up three per cent over the $323,141 recorded during the previous January. The median reached $288,200, up four per cent over the same time last year.
Breaking down the total, 1,796 sales were reported in TREB’s 28 West districts and averaged $315,108; 773 sales were reported in the 14 Central districts and averaged $424,503; 910 sales were reported in the 23 North districts and averaged $370,237; and 1,108 sales were reported in TREB’s 21 East districts and averaged $266,285.
Source: Toronto Real Estate Board