Real Estate Toronto Canada

Coming soon from BC based developer Onni Group, Garrison at The Yards.

I have exclusive access to select suites for an upcoming VIP sales event for this project. Prices are averaging about $450-475 PSF at this stage of the buying process. VIP buyers get parking for $28K, lockers for $2500 and FREE assignment. Contact me for floor plans and pricing.

Unlike some of the existing Fort York buildings like 219/231 Fort York and 600 Fleet, all suites will have as STANDARD:

• 9′ ceilings
• Laminate flooring throughout
• Stainless steel appliances
• Stone Counter tops

Garrison is Phase 1 of what will be as master-planned community with approximately 1000 units – all by the Onni Group. No question that the Fort York neighbourhood is finally starting to take shape and develop some character. If the rumored Loblaw-owned building at the north east corner of Bathurst and Lake Shore is converted into a Super Store or Loblaws, then the area would really take a leap forward in my opinion.

For more information or to buy at the VIP sales event (happening now) for Garrison at The Yards, please contact me.

Garrison is an intimate 11 storey building, housing only 207 units. The building offers the scale and atmosphere
of a boutique hotel with the added benefit of being part of a larger community. Within minutes of Lake Ontario,
Harbourfront, King West, Queen West, and the Downtown Core, Garrison exemplifies convenient urban living.
And with plans for a streetcar stop just steps from the front door, residents will never be more than a few minutes
away from where they want to be.
In keeping with the eclectic nature of the neighbourhood, the design and architecture of Garrison will be
decidedly contemporary, yet reference the historic. Wallman Architects has created an impressive facade of
glass, accented with red brick. Inside, the modern design aesthetic of II By IV Design Associates will infuse the
common areas with a distinctly downtown feel. All around, lush landscaping designed by GH3 will turn this
urban community into an oasis of green.
The Yards
When completed, The Yards, a master-planned community, will be comprised of four residential towers, totaling
1000 units. The Yards will turn the Fort York Neighbourhood into a vibrant, thriving residential area with shops,
services and plentiful amenity space both indoors and out.

By Nan Campion
Part 1 of 3 Series: The Competition Bureau has stated that sellers should be allowed to list their property on the Multiple Listing Service without accepting and paying for all of the services that a real estate agent can offer. It has even been suggested by the Bureau that one possibility would be [...]img alt=”" border=”0″ src=”http://stats.wordpress.com/b.gif?host=muddyyork.comblog=5188131post=2436subd=centraltorontorealestateref=feed=1″ /img src=”http://feeds.feedburner.com/~r/MuddyYorkARealEstateBlog/~4/4vP30UXCPsQ” height=”1″ width=”1″/

By Sandra Foster
The past few days have been wonderful.  All the snow has gone (at least in the GTA) and spirits are lifting.  I plan to use this energy as my grandmother did, an excuse to get into the basement, backs of closets, bottoms of drawers, to clean house
In working with sellers, it’s common to [...]img alt=”" border=”0″ src=”http://stats.wordpress.com/b.gif?host=muddyyork.comblog=5188131post=2430subd=centraltorontorealestateref=feed=1″ /img src=”http://feeds.feedburner.com/~r/MuddyYorkARealEstateBlog/~4/YeDKbAbneuk” height=”1″ width=”1″/

img alt=”" border=”0″ src=”http://stats.wordpress.com/b.gif?host=muddyyork.comblog=5188131post=2406subd=centraltorontorealestateref=feed=1″ /img src=”http://feeds.feedburner.com/~r/MuddyYorkARealEstateBlog/~4/AtW5hYkirrs” height=”1″ width=”1″/

Perhaps the most iconic City of Toronto landmark is Canada#8217;s National Tower. In the beginning, the tower was referred to as the Canadian National Tower and was named after its builders, the Canadian National rail company. In 1995 the ownership was transferred over to the Canada Lands Company, and now both of the titles “Canada#8217;s [...]img alt=”" border=”0″ src=”http://stats.wordpress.com/b.gif?host=muddyyork.comblog=5188131post=2364subd=centraltorontorealestateref=feed=1″ /img src=”http://feeds.feedburner.com/~r/MuddyYorkARealEstateBlog/~4/oqAmdDtOEMY” height=”1″ width=”1″/

By Susan Eickmeier
Are you participating in Earth Hour? The Toronto Cricket, Skating and Curling Club is!
Earth Hour will be taking place this year on March 27 at 8:30 p.m. It’s expected that hundreds of millions of people across the globe will turn off their lights and stop using electricity of any kind as a form [...]img alt=”" border=”0″ src=”http://stats.wordpress.com/b.gif?host=muddyyork.comblog=5188131post=2425subd=centraltorontorealestateref=feed=1″ /img src=”http://feeds.feedburner.com/~r/MuddyYorkARealEstateBlog/~4/J2uxz6wY8CM” height=”1″ width=”1″/

It is looking like March Madness is about to give way to April If this was a basketball game, we would be getting close to the two minute mark. Desperation hasn’t set in yet, but you need to have a plan and you need to execute it quickly. There is just over a month left to find a home and get a contract together. You don’t have to close on the home by the end of April. You have until the end of June to get the financing together and close. So this is the time to take note of where you are and what still needs to be done to make sure you can take advantage of the tax credit.

The Home Buyer’s Tax Credit is broken into two parts, a tax credit of $8,000 (or 10% of the purchase price if under $80,000) for qualified first time home buyers, and a maximum tax credit of $6,500 for qualified move up home buyers. This isn’t the only reason to buy – home prices are the lowest in years, mortgage rates are still low and you can still buy with a low down payment. But if you have already made the decision to buy a new home, this tax credit is a kicker. There will still be a lot of good reasons to buy a home after the tax credit expires, but it is worth the effort to move up the search if you can get a check for buying now.

So, do you have a plan in place for getting a contract together by April 30^th? Here are some things to watch out for:

Have you been pre-approved for a mortgage?

This is the first step. Without a pre-approval you don’t know how much of a home you can qualify for, or what the best way to structure the purchase. If you haven’t done this, your next call should be to a good loan officer who can help point you in the right direction.

Are you working with a Realtor?

A lot of people start their home search on the internet. There are plenty of sites where you can search for homes, and this is a great way to get a feel for what is available. But when you are serious -and remember, we are at the two minute mark – this is the time to find a good Realtor who can help guide you into the home that is right for you. A good Realtor will save you time and aggravation, and will help you get a better deal.

It might be time to give up on short sales

If you have been looking for bargain properties and concentrating on short sales (homes selling for less than their mortgage balance where you need to get the bank to agree to take less), or if you have an offer on a short sale which has dragged on for too long, it might be time to cut and move on. Short sales take longer to complete, and until the bank holding the loan signs the agreement, you have no idea when, or if, the transaction will come together. (New rules on short sales go in place next month, but it’s still unclear how they will work).

Don’t wait until the last minute

A funny thing has been happening lately in the housing market. Homes are getting multiple offers. This means two or more buyers are bidding at the same time, which pushes the price of the home higher. This isn’t happening on all homes, but on homes in the first time home buyer price range it is becoming a common occurrence. If you wait until the close to the end of April, this is likely to be a bigger factor. Another thing to consider is the property condition. I’ve seen a lot of homes that went under contract but fell apart after the home inspection. If that happens it is discouraging anytime, but if it happens at the end of April, this means you don’t have time to find a new home before the tax credit deadline.

Are you a move up buyer?

If you are a move up buyer and need to sell your house first, the clock is ticking faster for you. If you don’t have your home on the market, priced right and ready to go, you may not be able to find a buyer before the April deadline. You don’t have to have a buyer for your home lined up before the April 30^th deadline, but it will make the process a lot easier and more certain if you do. One possibility if you are getting close to the deadline and still haven’t sold your home, is to write your purchase offer contingent on the sale of your current home. A lot of sellers won’t accept a contingent contract, but if you can show that your home is listed at a realistic price and is salable, this could work. You will still have to sell your home by the June 30^th deadline, but this does buy you some more time.

If you are already moving forward, know what you can afford and have an idea of what type of home is best for you, then you are probably in good shape. If you haven’t gotten that far, you need to play catch up, and that can be more stressful, but you still have time to find a home on time. If you don’t have a contract by the end of April, it’s doubtful that the government will extend the program again. But there will surely be a lot of great homes on the market, and it will still be a strong buyer’s market. There are sure to be bargains later in the year, but if you can get the home you are looking for and a check from the government too, this is a slam dunk.

Thinking of buying but not sure where to start?

First Time Home Buyer Webinar this is a recording of a webinar I did recently which goes over the entire home buying and mortgage process in just under an hour.

Free Home Buyers Guide – From A to Z, everything you need to know about buying a home and getting approved for a loan.

Peter Thompson 630-479-6424

Illinois Mortgage Rates                   First time home buyer loans

Chicago Mortgage Company

By Martin K. I. Rumack
This is a credit for taxpayers which was introduced in the January, 2009 budget and which is still in existence today, as opposed to the Home Renovation Tax Credit which expired on January 31, 2010.
This particular credit is worth $750.00.  This credit did not receive the same amount of media attention [...]img alt=”" border=”0″ src=”http://stats.wordpress.com/b.gif?host=muddyyork.comblog=5188131post=2393subd=centraltorontorealestateref=feed=1″ /img src=”http://feeds.feedburner.com/~r/MuddyYorkARealEstateBlog/~4/0r_hkVFeX-Q” height=”1″ width=”1″/

Many Ontario homes use fuel oil when propane and natural gas are not viable options for heating in the area. These homes will normally have an oil tank somewhere on the property, and when preparing to sell your home it’s a wise investment to have the tank inspected and to know how old it is. 

An important distinction is that oil tanks can be either above ground or underground, and each type of fuel oil tank requires a different set of specifications. The average life expectancy of an underground oil tank, for example, is somewhere between 10-15 years, and at 20 years the risks of leaking increases significantly.

There are no current laws or regulations that state an oil tank must be replaced by a certain age if it’s not leaking, but the Government of Ontario recommends replacing oil tanks that are more than 30 years old. There are however, regulations stating that underground oil tanks must be updated if they’re a certain age. 

Above Ground Oil Tanks 

Above ground oil tanks installed in Ontario after 1971 should have an Underwriters’ Laboratories of Canada (ULC) label. Having a ULC certification is required by law, however oil tanks installed before 1971 have been grandfathered in and are approved for use anyway. This label will also contain manufacturer’s information, and if the age of the tank is not identifiable by looking at the label, the manufacturer can be contacted to ask about the age of the tank.

Typical basement oil tank

If the oil tank was installed after 1971 and does not have a ULC certification label, it needs to be replaced with a certified tank. The ULC label or plate is usually on the top half of the tank and should be clearly visible. The ULC can also come and certify the tank so oil distributers can supply the tank with oil. Without certification, oil distributers are prohibited by law from supplying oil. The Technical Standards and Safety Authority, which regulates fuel oil tanks in Canada, does not inspect aboveground tanks and oil distributers must conduct a preliminary inspection of all tanks they deliver to.

You can conduct a mini-inspection of your own to get a good idea of what you’re dealing with before paying for a fuel oil tank inspection. Checking your above ground tank for instability or shakiness, rust, wet spots, dents, drips, spills and cracks will provide a decent indication of its overall health. 

If the oil tank was installed in accordance with whatever codes were in place at the time, the TSSA will still consider the tank approved for use despite any subsequent changes to those codes over the years.  

When having an above ground oil tank inspected through an oil tank distributer, there’s not much else you need to do after the inspection takes place. On the other hand, if you arranged for an inspection by a third-party company yourself, a follow-up with the distributer is recommended by the TSSA to ensure everything is on the up and up and that the TSSA and the distributor’s requirements for a functional and safe oil tank are compatible with each other. 

Under Ground – Buried Oil Tanks 

All underground oil tanks must be registered with the TSSA. If it’s not registered, those who attempt to have oil supplied to them will likely receive a notice requiring them to have the tank registered within 90 days. Registering a tank with the TSSA is completely free, and can be done by filling out and mailing or faxing the form in.

Based on an amendment to the fuel oil burning equipment code, underground or buried tanks, depending on their age must have been upgraded by a certain date. The last of those dates, for tanks 0-9 years old, passed at the end of last year and it’s safe to assume that if the tank was not upgraded when the amendment was introduced in 2002, it’s due for an upgrade. 

TSSA registers underground tanks, and they’re inspected during installation. According to the TSSA, this inspection of the entire oil system costs $150 per hour, and the amount of hours depends on the complexity of the system.  

It’s difficult to determine if an underground oil tank is leaking as the same signs that imply an above ground tank might be leaking are not readily visible. A sudden increase in oil consumption may indicate a leak, as well as oil slick rainbows on nearby puddles or streams. A TSSA-registered fuel oil contractor can be contacted to inspect the tank and safely remove any oil that make have leaked. Ontario residents are also obligated to call the Ministry of the Environment Spills Action centre at 1-800-268-6060 in the event of an oil spill. 

There are no set dates for the inspection of a fuel oil tank regarding its age, but oil distributers will carry out an initial inspection before they supply you and are supposed to do one every ten years. If a tank has not been used for two years, it must be removed by a TSSA-registered contractor no matter how old it is. 

Selling Your Home 

If you’re selling your home and have an oil tank, before closing the fuel oil supplier should be contacted and it should be ensured that any inspections necessary have been completed. To obtain an inspection, look in your local Yellow Pages to find a suitable, TSSA-recognized company under “Heating”. 

When hiring a distributer to check the oil system, the TSSA has a sample checklist you can download and print. The homeowner can then make sure that all of these items are covered in the inspection. 

Most buyers’ insurance companies will require that they ask the age, location and inspection history of the tank, and by following the above steps you’ll be able to answer accurately answer any questions. 

What Is This Going To Cost? 

When the inspection of a fuel oil tank is conducted by the fuel oil distributer, prices can vary. Some companies will even do it free of charge, or include it in their costs anyway as they must conduct an inspection before they begin. 

BlogTorontoRealEstate.ca contacted Jay Burley at Eco Metal Recycling, a GTA-based and TSSA-certified and registered fuel oil tank removal company. He told us that around the GTA, the removal of an average-sized residential above ground fuel oil tank in a basement generally costs around $450, and the removal of a residential underground fuel oil tank can run, on average, $4,000.

Site inspections of a fuel oil tank generally cost $349, but if an underground tank needs to be removed this fee is deducted from the total cost. 

Handy Phone Numbers And Websites 

Frequently asked questions about above ground oil tanks and a list of manufacturers.

Sample fuel oil tank inspection checklist  

1-877-682-8772 – The TSSA general line 

More information on removing fuel oil tanks: http://www.ecometalrecycling.ca/Oil-Tank-Removal-Service.aspx 

www.opcaonline.org – The Ontario Petroleum Contractors’ Association, where you can find a TSSA-registered contractor for your municipality for removing a fuel oil tank.

1-800-268-6060 – Ministry of the Environment’s emergency toxic spills 24-hour line.

416-734-3402 – the TSSA Records Department for oil tank property history.

I had quite a few reactions (mostly via email) to my last post “Greed“. It seems it really struck a cord with both my fellow Realtors and consumers alike. As a follow up to that post, I wanted to talk about another segment of the market that in my opinion has gone off the deep end and gotten greedy: Assignment Sellers.

For those of you who have been living under a rock for the past couple years and still do not know what an assignment is, please read through my series of blog posts on the subject before continuing.

Time and time again I see assignment sellers (and their agents) making the same mistake: over pricing their assignments.Finding a buyer for an assignment is tricky under the best of circumstances. Finding a buyer for an assignment when that assignment is over priced to begin with is nearly impossible.

For example, Maple Leaf Square assignments are popping up everywhere.  Some sellers are asking $700 per square foot for their units. This is insane. There is almost nothing selling on the resale market at that price anywhere downtown. Why would anyone pay this for a run of the mill condo?

The high end of the resale market (for non-luxury buildings) are buildings like Glas (25 Oxley), College Park (761&763 Bay), Murano (37 Grosvenor and 38 Grenville), and The Met (21 and 25 Carlton). Units in these buildings are averaging about $575 PSF for units with parking spots. The odd unit is selling for slightly above $600 PSF. This is the creme of the crop. Trying to sell an assignment in an unproven building for $700 PSF is just silly.

So what is a realistic way to price an assignment? There is no set rule at this point, however, I would suggest you first determine the value of the property if it were a resale property TODAY, then subtract 10% from that. This is assuming of course, you are a motivated, rational seller who does not want to close on the property. This is also assuming occupancy will take place in the next 6 months or less for your unit.

Don’t get greedy. Price your assignment below equivalent resale market value to give yourself the best chance to find a buyer.

This one is sure to excite some people-let me know your thoughts or comments!

How will commissions be impacted by the Harmonized Sales Tax on real estate transactions as the HST implementation date of July 1st, 2010 approaches? Here is the breakdown:

If the transaction is written and closes before July 1st, 2010, then only GST will be payable upon the amount of the commission.
If the transaction is written before [...]img alt=”" border=”0″ src=”http://stats.wordpress.com/b.gif?host=muddyyork.comblog=5188131post=2417subd=centraltorontorealestateref=feed=1″ /img src=”http://feeds.feedburner.com/~r/MuddyYorkARealEstateBlog/~4/W8z3e5375IY” height=”1″ width=”1″/

Queens Harbour Condo Along Harbourfront In Toronto

Have you ever considered condo living at Toronto’s Harbourfront?  It is a terrific lifestyle with the water and the city so close on either side.

This particular condo is at the ‘quiet’ end of Queens Quay, just east of Bathurst and the suite has a south-west view of sailboats on the lake.

Designed as a spacious, 763 sf one bedroom plus den and solarium, the current owner has made significant upgrades to the suite by converting the den to a second bedroom (with a french door) and by allowing the solarium to be separated from the rest of the condo with french-style pocket doors.

Kitchen has stainless appliances and granite counters

Other suite features include new hardwood floors, crown mouldings, stainless steel kitchen appliances and granite counters.  There is one parking space and a locker which are owned.

Queens Harbour has 24-hour security, an outside patio with two BBQs, a party room with big screen TV, gym, visitor parking and a guest suite.

It’s an easy walk to work in Toronto’s downtown core, an easy streetcar ride to the subway and easy access to the Gardiner Expressway if you’re commuting to anywhere else in the city.

You’ll enjoy all of the excitement of living along Lake Ontario… ferry rides over to Toronto Islands, concerts and more!

Take a look at all the suite photos and floor plan as well as a video of the condo and the building amenities.

img alt=”" border=”0″ src=”http://stats.wordpress.com/b.gif?host=muddyyork.comblog=5188131post=2415subd=centraltorontorealestateref=feed=1″ /img src=”http://feeds.feedburner.com/~r/MuddyYorkARealEstateBlog/~4/4NVIPcERnAQ” height=”1″ width=”1″/

Automotive repair:

I was referred to Christine’s by a good friend of mine who told me a lovely story of the service he had received here. When my old car needed new brakes, I called for an appointment. I was met with a friendly voice that was able to squeeze me in and help me almost immediately for my own safety. Christine was not only trustworthy (no unnecessary “fixes” or upcharges here), but extremely knowledgeable and caring.

Christines’s Automotive

38 Hanson Avenue, Unit 2 (just south of Homer Watson and Ottawa), Kitchener

Tel. 519-772-5044

Computer Repair:

All I can say is Notebook Galaxy. I love these guys! After bringing my broken laptop into three different shops and being told three different stories of what was wrong with it, then requesting work at one shop only to be told they don’t have to parts and I would have to purchase them myself separately, I finally found Notebook Galaxy. I walked in and it was crowded, but I was greeted immediately none-the-less with a friendly welcome and inquiry into my computer’s status. One man was sitting on a couch, a computer taken apart in front of him. The other man was multi-tasking and assisting three people at once behind the desk. I figured it would take a while, but I did not want to leave my computer at another place again. So I waited. To my surprise, they moved through the crowd quickly and efficiently and I was served within 5 minutes. The man on the couch quickly looked at my computer, made a few minor adjustments, and to my surprise, said “it’s fixed”. And it was. No insane prices or elaborate labour charges. Simple fixes, in front of your face. He also showed me how to maintain my computer, get free spyware, and other handy little tidbits that I still use. They have since been the only people I trust to touch my computer!

Notebook Galaxy

347 Weber Street North, Unit B (near the corner of Weber and Columbia), Waterloo

Tel. 519-886-1112

Muddy York was the nickname bestowed upon the early settlement of the York area in Upper Canada in the late 1700s and early 1800s. The capital of colonial Upper Canada was formerly in the Niagara region, but in 1798 the pre-War of 1812 tensions between the early Canadians and Americans began to mount and it [...]img alt=”" border=”0″ src=”http://stats.wordpress.com/b.gif?host=muddyyork.comblog=5188131post=2355subd=centraltorontorealestateref=feed=1″ /img src=”http://feeds.feedburner.com/~r/MuddyYorkARealEstateBlog/~4/4zjhHO99IDM” height=”1″ width=”1″/

By Parmida Modiri, AMP
Your credit report shows a very comprehensive financial history. Your credit score, which is a three digit number, is assigned to each individual based on a variety of factors: number of trading lines open, monthly payments, history of repayment, number of inquiries, etc.
A credit score can range from about 300 (worst) to [...]img alt=”" border=”0″ src=”http://stats.wordpress.com/b.gif?host=muddyyork.comblog=5188131post=2332subd=centraltorontorealestateref=feed=1″ /img src=”http://feeds.feedburner.com/~r/MuddyYorkARealEstateBlog/~4/uyX_oqQ_G6k” height=”1″ width=”1″/

There were 819 sales of single family homes in the Durham Region in February, 2010, and this is a 54% increase over the 532 sales we saw in January, 2010. With February, 2009 sales of 507, the year over year increase of 62% was substantial.

Although slightly lower than January’s $289,195, February’s average selling price for resale home purchases was $286,635, still 9% higher than the $263,899 reported for the same period in 2009 and confirming that the Durham Region housing market is indeed a part of the Greater GTS’s economic recovery.

February also offered an increase in active listing; 1716 versus 1423 for the prior month, but still a significant decline from February of 2009. Although year-to-date total active listings available in Durham Region is down 30% from last year, and annual growth in new listings is expected to continue through 2010. With this increase in available properties will come a more stabilized rate of price growth within the housing market. It will be interesting to see what decisions buyers and sellers will make in the months to come. Stay tuned!

By Heather Rose
Empty nest syndrome is a term that describes the general sadness and depression that affects parents and households when the kids grow up, leave home and go off to college, university or just to live on their own. It’s a very real situation that can easily be felt every moment of the day [...]img alt=”" border=”0″ src=”http://stats.wordpress.com/b.gif?host=muddyyork.comblog=5188131post=2366subd=centraltorontorealestateref=feed=1″ /img src=”http://feeds.feedburner.com/~r/MuddyYorkARealEstateBlog/~4/aOXCv6s4wLA” height=”1″ width=”1″/

The Toronto Inner Harbour fish population is showing signs of recovery and is much more species rich than a few years ago due to the efforts of Aquatic Habitat Toronto (AHT) which  Waterfront Toronto is proud to be a part of.
Waterfront Toronto is a member and financial supporter of AHT, a consensus based partnership between [...]img alt=”" border=”0″ src=”http://stats.wordpress.com/b.gif?host=muddyyork.comblog=5188131post=2321subd=centraltorontorealestateref=feed=1″ /img src=”http://feeds.feedburner.com/~r/MuddyYorkARealEstateBlog/~4/D09bIqeEqpA” height=”1″ width=”1″/