Stunning sunny extra-wide loft-style condo with huge wall of windows and many fabulous upgrades. - Click for virtual tour.

Brilliantly designed 726-sf condo with well-equipped gym & tranquil landscaped inner courtyard with waterfall. Move in and enjoy!
Walk-in shower, tons of built-in storage!
See virtual tour here.

  
JUST SOLD
#104B - 18 Beverley Street 
:::: Representing the SELLER
Secure & spacious loft-style condo in PHOEBE ON QUEEN/THE BEVERLEY — designed by the award-winning Diamante Development Corp. Stunning sunny extra-wide loft-style condo with huge wall of windows and many fabulous upgrades.
Steps to Queen Street West and Grange Park — two blocks to Osgoode subway station.
   

Stunning sunny extra-wide loft-style condo with huge wall of windows and many fabulous upgrades. - Click for virtual tour.

A downtown Toronto paradise... walk everywhere!
1+1 condo in luxurious Century Plaza
in the heart of the city.
See virtual tour here.

  
JUST SOLD
#503 - 24 Wellesley Street 
:::: Representing the SELLER
Located between Bay & Yonge Streets — just steps to Wellesley station on the Yonge subway line. The T.T.C. (Harbord-Wellesley bus) at your doorstep. A short stroll to Queen's Park, the Ontario Legislature and other inviting greenspaces. Steps to the University of Toronto and all the delights of downtown living. Breathtaking views from 24th-storey rooftop terrace.

xxxxx

JUST SOLD     9 Minto Street :::: Representing the BUYER

2-1/2-storey semi — the coolest reno on the street!
Neighbourhood: South Leslieville
Sold for $492,000 in a 3-way bidding war in November/2010.
Featured Done Deal in The Globe and Mail, real estate section
For more details, please visit my Done Deals page.

   

Considering buying or selling your home in the next few months?
Looking for insight into your neighbourhood real estate market?
I'm here to help. Please get in touch.

 

 
  

MLS replaces old district zones with neighbourhood names

On July 5, 2011, the Toronto Real Estate Board launched a new district structure to replace the existing TREB zones. This is intended to improve the search capabilities within the MLS®, and move from a district mapping system based on a “zone” identified by code numbers to one identified by commonly known names and more easily understood geographic areas.

In place of the old areas (Central, West, East and North) and districts (e.g. C01, C02, C08…), the new three tiers of address criteria will include Area, City and a Community (Neighbourhood).

The Toronto neighbourhood boundaries mirror those in the City of Toronto's neighbourhood maps, which you can see here: http://www.toronto.ca/demographics/profiles_map_and_index.htm.

Here's what TREB's new central downtown/midtown Toronto map looks like:

MLS district/neighbourhood map, effective July 5, 2011

  

 

       

CMHC Toronto Housing Market Outlook:
Autumn 2011

"Flat Sales and Higher Listings will Slow Price Growth."

The market for existing homes will continue along its steady path in 2012. The biggest movers of ownership demand — interest rates and employment — are expected to see little change next year. Weakened financial market conditions and a slower profile for economic growth won’t provide any stimulus for the housing market, however the lasting need for low interest rates will alleviate pressures on affordability. Increased supply and slower growth in prices should also help keep the door open for would-be homebuyers.

All-in-all, resale market activity in 2012 will be largely unchanged from annual results tallied over the past few years.

Read more here.

        

    

  
Best Mortgage Rates (as of February 17/2012)
 

   Variable, Open & Convertible Rates

  

           Closed 1-5 Year Rates
   Variab 6-mth Open 6-mth Convt. 1-yr Open 1-yr Convt.     6-mth 1-yr   2-yr   3-yr   4-yr   5-yr    
Bank of
Montreal		 3.1000 6.300 4.450 6.300 ---     4.450 3.200 3.550 3.950 4.640 3.490  
Bank of
Nova Scotia		 3.100 6.450 4.550 6.500 ---   4.550 3.650 3.890 3.990 4.390 5.290  
  
CIBC
 3.100 6.700 4.450 6.350 ---   --- 3.500 3.290 4.050 3.390 4.040  
National
Bank		 --- 6.700 --- 6.300 ---   4.450 3.500 3.550 3.950 3.390 4.040  
RBC
Royal Bank		 3.100 6.300 4.050 6.300 ---     4.050 3.200 3.550 3.950 3.390 4.040  
TD
Canada Trust  		 3.100 --- 4.450 6.300 ---     --- 3.200 3.550 3.950 3.390 4.040  
Alterna Svgs/ Alterna Bk 3.00 6.300 --- 6.300 ---   4.000 3.050 3.300 3.350 3.400 3.450  
President's
Choice Finan		 3.100 --- 6.040 --- 3.140   --- --- 3.200 3.240 3.300 3.490  
  
Bank West		 --- --- --- --- ---   --- 5.250 5.500 5.750 6.000 6.500  
Concentra Financial --- 6.700 4.450 6.300 ---   4.445 3.500 3.550 3.950 4.640 5.240  
Comtech
Credit Union		 2.850 8.400 6.600 9.000 ---     6.600 2.990 3.250 3.290 3.090 3.490  
  
AGF Trust		 --- --- --- --- ---     --- 3.040 3.200 3.240 3.390 3.490  
Canadian Western Bank --- 6.450 4.450 6.300 ---       4.450 3.200 3.550 3.950 4.640 5.240  
  
    Source: The Toronto Star
    Fiscal Agents Financial Information Services

  

   

Backgrounders

Canadian Government tightened mortgage lending rules, effective April 19, 2010

Stricter mortgage rules to make sure that borrowers can make their payments even if mortgage rates rise were announced by Ottawa on February 16.

The new rules will require that all borrowers meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term. This change is to help Canadians prepare for higher interest rates in the future.

The rules lower the maximum amount Canadians can withdraw in refinancing their mortgages to 90 per cent from 95 per cent of the value of their homes. The rules also require that people who buy a property for investment have a minimum down payment of 20 per cent for government-backed mortgage insurance.

These adjustments to the mortgage insurance program came into force on April 19, 2010.

Department of Finance Backgrounder

 

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Confused about what taxes apply on your home purchase?

Ontario's new HST does not apply on the purchase price of resale homes

Ontario merged the GST & PST into a new 13% HST (harmonized sales tax) on July 1

The HST does apply to newly constructed homes and to professional services associated with real estate transactions (eg. moving costs, legal fees, home inspection fees, and Realtors' commissions) — but the purchase price of a resale home is exempt from the tax.

Although HST does apply to new homes, Ontario provides a rebate of 75% of the provincial portion of the new HST on the first $400,000 on new homes, to a maximum of $24,000.

Buyers must remember to budget for other addtionals costs, such as the city's and province's Land Transfer Taxes, and property taxes.

Ontario brochure:
What's Taxable Under the HST and What Is Not?

  
Please contact me for assistance in your home search or sale.

Realtors Know Real Estate

Left: Playing Hockey on Major Street (City of Toronto Archives, 1920)

 

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