Despite a flurry of debate in the media about whether Canada is headed towards a real estate bubble or not, there are many good signs in the Toronto market right now.

Interest rates are low, sale prices rose four-per cent last year, and condo construction sites are everywhere.

In fact, the Toronto Real Estate Board (TREB) reported that 2011 was the second-strongest year on record since 1994.

So if the market is strong, why is there so much talk about a bubble?

One factor sparking the debate is that changes are coming. Richard Silver, TREB’s president, says that Toronto has moved from being a sellers’ market to a more balanced one. More listings are available for buyers to chose from, compared to when several buyers would compete for one property.

Adding to this, the Canadian Real Estate Association (CREA) forecasts that average sale prices will be flat in 2012.

“[A bubble] need[s] a trigger,” CREA chef economist Gregory Klump told the Globe and Mail. “A massive oversupply, or a massive decline in demand – and those triggers are not in the cards when you look at the prevailing economic forecast.”

Don Campbell, president of the Real Estate Investment Network, agrees. “I do not believe that Toronto, as a whole, is in a bubble,” he told the Toronto Sun. “I think it’s more like a balloon where the air is going to start leaking out.”

Real estate markets are at risk of a bubble when there is high unemployment or significant interest rate increases. This is not happening in Canada, Craig Alexander, the chief economist for TD Canada Trust, says. Instead, Alexander predicts a moderate raise in interest rates, likely by one percent a year through to 2013.

“ … I think when we see interest rates rise, we’ll see housing prices decline but it won’t be a dramatic decline,” Alexander told the Toronto Sun.

Another factor in the debate is the amount of debt carried by Canadian households.

Helmut Pastrick, chief economist for Central Credit Union 1, dismisses this concern. He says that most of the debt Canadians carry is manageable.

“… Most of the debt is mortgages, backed by an appreciating asset, and most of the debt is issued by lenders who have pretty good lending … so generally it’s a sound form of credit,” Pastrick told the Financial Post.

In fact, the Globe and Mail’s Sean Silcoff goes as far as to call Toronto’s current real estate market “strong”.

So as we said, there is good news in the housing market right now.

Real estate expert Mark Weisleder thinks great things are happening in Toronto’s real estate market these days.

He recently wrote in the Toronto Star:  “I believe there has never been a better time to buy a home. I’ve been in the industry for 28 years as a lawyer and I haven’t seen so many positive signs for housing …”

Weisleder isn’t the only one who thinks good things are happening in Toronto and the Greater Toronto Area’s housing market. Here are five reasons why now is a good to buy a home.

1. Mortgages rates ‘can’t get any lower’

Today’s low mortgage rates are nothing to sneeze at. In his article, Weisleder went on to say that, “(rates) can’t get any lower.” He encourages anyone with a variable mortgage to switch to a fixed rate.

According to the Canadian Mortgage and Housing Corporation (CMHC), more than 99 per cent of Canadians pay their mortgages on time. Compare that to 15 per cent of American homes which are in foreclosure or under water, and it’s easy to see how our market is in much better shape than what’s happening in the States.

Weisleder also points out that Canadian lenders can sue for shortfall when a mortgage doesn’t get paid. In the States, the only option lenders have is to foreclose on the property, which weakens the market.

2. There are more new places to move into, and they keep on coming

Condos have changed the face of real estate in Toronto and the GTA. Last year in the 905, one in three properties sold was a condo.

It may feel like there are construction sites building new condo towers all over the place, but with over 100, 000 new people arriving to Toronto and the GTA each year, we need more of these homes.

RealNet Canada Inc. president George Carras told the Toronto Star there are only   six months of active supply housing left in Toronto. To create the housing we need, developments are getting approved faster. Not to mention, for the first time in several years, low-rise construction rates are also up, which means more choices for buyers.

3. So many hot spots!

The Toronto Real Estate Board (TREB) recently analyzed neighbourhoods, and proved what many of us already knew, there are many real estate hot spots in our communities.

Milton, Richmond Hill and Markham are extra-hot right now, and Newmarket is one of the tightest markets in the GTA. Some of the fastest places to sell in Toronto are Eglinton and Mount Pleasant and Etobicoke’s Stonegate-Queensway. The good news is that should an economic downturn occur, it would unlikely affect the property values in these hotspots.

4. Look at prices more closely, and it’s good news

We know real estate is all about location, location, and location.  We also know that in Toronto and the GTA, great locations translate into higher property values.  Worry comes over news that markets in the U.S. and Europe have crashed over high income to home price ratios.

Not to worry, Weisleder says. Comparing the median price of homes against the median Canadian income results in a safe, 3.5 ratio, which is much lower than what was happening in the States and Europe.

5. Feel good about the economy  

Canadians do not have the same debt level as Americans, and the debt we do carry is mostly our mortgages, which are held at low interest rates. Weisleder points out that in a U.S. election year, any President up for re-election will work hard to ensure the economy gets better, which is good news for all of us.

Minto 30 Roe is coming soon to 30 Roehampton, and it’s going to be fantastic. At the heart of Yonge & Eglinton, this 34-storey condominium will feature stunning architecture by Rudy Wallman, and sophisticated interiors by II by IV Design. With an amazing location, fabulous design and exciting amenities, there are so many reasons to love Minto 30 Roe.

Development Name - Minto 30 Roe
Developer - The Minto Group
Location – 30 Roehampton Ave.
City/Neighbourhood – Toronto
Price From – tba

For more information, please contact me for consultation

Chic, timeless, sophisticated. TEN YORK is a glass vision in the sky designed by award-winning architect Rudy Wallman of Wallman Architects, creators of some of the most striking urban designs in the city. Signature designer suites by the ultra stylish design firm II BY IV Design Associates captivate with their imagination, elegance and timeless designs. The finest of features and finishes in the spacious suites will appeal to even the most discerning owners. An abundance of luxurious amenities make TEN YORK a charmed world unto itself. Prominently at the entrance to the city overlooking Lake Ontario. Key attractions are mere steps away – the Air Canada Centre, Maple Leaf Square, Rogers Centre and Harbourfront, with direct highway access to all parts of the city.

Development Name - Ten York
Developer - Tridel
Location – 120-130 Harbour St.
City/Neighbourhood – Toronto
Price From – tba

For more information, please contact me for consultation

How to live a downtown lifestyle with an uptown address

The town motto in Richmond Hill is, “a little north, a little nicer.” But for some hardcore Torontonians, “a little north” conjures images of car co-dependency and infinite strip malls. Not so great a destination for those city-dwellers who feel the centre of the universe only exists south of Bloor.

But think again. Expanding your real estate horizons … a little north can lead to more space, lower costs and some surprising urban advantages. Maybe it’s time to open your urban heart to the northern suburbs?

Why a little north can be a little nicer than (to state the obvious) Toronto

Do Toronto in the Hill … and spend less money

Check out the Toronto International Festival Group’s Reel Screenings festival in Richmond Hill, where you can catch TIFF-worthy films at almost half the price you pay in Toronto ($10 for advance tickets). Not to mention, the town does their own TO-events, Richmond Hill style, such as Doors Open and the Santa Claus Parade. (With the added bonus of not having to deal with downtown traffic and parking prices.) And yes, there’s also theater, art galleries and, more importantly for caffeine addicts, great indie coffee joints. Covernotes tea and coffee house, Better Coffee Company. See, told you north can be nice. Now who wants a latte?

Foodies rejoice

It’s been (for some) an embarrassing urban secret that the best Chinese and Korean restaurants in Toronto are actually in York region. And going a little north for your food certainly doesn’t limit your choices, Chinese, Korean, or otherwise. And, of course, there are farm markets such as Reesor Farms right at your door. Dim sum, kim chi or heirloom tomatoes anyone?

Toronto doesn’t own the multicultural patent

Turns out, folks in Richmond Hill are slightly younger than the Ontario average. And not only is the town fast growing, it’s one of Canada’s more diverse communities.  But taking it a step further, Richmond Hill does diversity, well. While the Richmond Hill motto is “a little north, a little nicer” the mission statement is a meaningful: “Richmond Hill, where people come together to build our community.” But it’s about more than words, the town won an award []for their efforts to bring diversity into action, creating, among other things, a plethora of groups  and a multicultural food festival.

Trails!

Richmond Hill has got enough trails to make cyclists, skaters and hikers over in the big city realize in some ways, Toronto’s not that big. Check out, as an example, the town’s master plan to create an “interconnected Town-wide system providing safe and accessible routes through the Town’s parks and open spaces.” Interconnected! Town-wide!

For skaters (ice and inline), there’s a scenic 250-meter looped trail, the Richmond Green.

While hikers can benefit from organized Walks on the Wild Side which explore Richmond Hill’s natural heritage system. It’s right by the Greenbelt, after all.

And if this isn’t enough to convince you, the Town of Richmond Hill lists more reasons of their own [here]

Good things keep coming to Merton Street.

The newest addition is The Merton, 12 stunning new luxury town homes, which are already under construction and promise to bring extra elegance to the street’s already bustling community.

Have you ever wondered why folks keep flocking to this quiet, midtown street? The answer is simple, there’s something about living on Merton.

Location, location, location

Experience the culture of many distinct Toronto communities. The Merton will be built just west of Mount Pleasant Avenue, where stunning neighborhoods surround the address. Walk over to Leaside’s friendly yet stylish Bayview Avenue. Spend your time in Mount Pleasant Village, or hop over for some excitement close by at Yonge and Eglinton. Head south to Yonge and St. Clair, and experience Deer Park. Not bad for one address!

… And the location is convenient!

Living in North Toronto means having the best of downtown and uptown lifestyles. Merton Street is walking distance to Davisville subway station. But unlike downtown living, Merton is also uptown enough to be car friendly. There’s ample parking (metered and two lots) on the street for your driving visitors. Walk, drive or bike to several neighborhood grocery stores. Find anything you need on Yonge Street, or Mount Pleasant. It’s all about location, location, location, that’s convenient, convenient, convenient!

Shopping, darlings, shopping

Speaking of things you need, living on Merton means having great shopping at your doorstep. And who doesn’t need to buy stuff? The different neighborhoods around Merton are a shopper’s paradise. Bayview and Mount Pleasant were made for high-end window-shopping. Find a vintage bargain at the Elegant Garage Sale, pick up a great mystery at the Sleuth of Baker Street or find anything you could possibly need at Jacaranda Tree and Co. (And much more!)

Eating!

There’s good food close-by Merton Street. No, make that great food. Mount Pleasant and Bayview are restaurant hot spots, with many critically acclaimed Indian, Italian and Japanese venues. Find great chocolate shops, and countless bakeries, specializing in everything from heavenly fresh breads to sinful baked goods. Go on and pamper your foodie self!

Great outdoor living in the big city

With all that nearby indulgence, outdoor activity is a good thing!

Toronto says it’s a “city inside a park”, and living on Merton Street is no exception. There are four parkettes close by, Balliol, Fiona Nelson, Glebe Manor Square, June Rowlands, and Mount Pleasant.

Finally, cyclists can access the Belt Line Trail, an almost 10 km old railway trail from the Moore Park ravine.

We told you, there’s something about Merton.

Glass tower condos are everywhere in Toronto. But a recent series CBC news series made headlines when it referred to these towers as “disposable buildings.” Citing concerns about energy efficiency, potential high retrofitting costs, water leaks and a poor return on investment, the article cautioned potential buyers that the great views these buildings provide may not be worth their potential risks.

Not so, says a recent article in Glass Magazine, which blamed poor construction, and not glass towers, for the problem.

Rob Botman, general manager of Glassopolis, told the magazine that quality materials prevent most problems. “You can get properly designed [glass] systems that are watertight, well insulated, and provide excellent solar control and privacy.”

It’s true many glass tower condos in Toronto are designed to Leadership in Energy and Environmental Design (LEED) standards,  and meeting LEED standards is no small feat. They are international recognized, and a third party is responsible for certification.

According to the Canada Green Building Council, LEED certification focuses on five key areas, including energy efficiency, which would not be possible if glass towers were huge energy wasters, as the CBC reports imply.

It’s also worth noting that glass technology is continuously improving. Large windows let in light, which saves electricity. Low-emissivity coatings and lower solar heat gain are also energy saving, the magazine says.

Alessandro Fenzi, director of Fenzi Group, told Glass Magazine it’s all about proper construction.

“If the insulating glass units [are] manufactured properly, with the correct components, then the CBC report is not correct. Gas retention will be perfect and energy saving will be there for a long time,” he said.

At the end of the day, common sense prevails. Do your research, and know what kind of building you’re buying into. Be sure a glass tower condo has a high-quality glass system, and then, by all means, enjoy the view.

Putting your home up for sale is an enormous job. Before potential buyers can come in for a look, your house or condo needs to become a space other people can visualize as their own.

Simple enough, except the problem is, you still live there.

It’s a daunting task, because while your space needs to look pristine, it’s still the place where you live. For the time being, at least.

How to live in a home that needs to look livable without looking lived in

Move out emotionally before you actually move out

Any real estate agent will tell you, you need to remove all personal items from your space. That means taking the family pics off the walls and the books off the shelves. It can also be a good idea to put some furniture in storage – the less clutter potential buyers see the better. Consider this de-cluttering opportunity the first step in leaving your home. The less personalized the space, the more you’ll be able to maintain an appealing environment for potential buyers.

Make a list of things you want to do about town, but never have time to do

It’s not a good idea to hang around during an open house. Buyers tend to feel much more comfortable when the homeowners are not there. So what’s there to do when you’re kicked out of your home on a weekend afternoon? See the glass as half full. Plan activities that the whole family will enjoy. Haven’t been to the museum lately? Now is your time. Missing out on the latest movies? Bingo.

Hopefully, your home will sell so quickly you’ll only have one weekend of leisure activity to enjoy. Then again, if it doesn’t, you and your family can make the most of it.

Create a daily cleaning routine and stick to it

When people come to see a new home, there’s an expectation that a space will look fresh and recently cleaned. But no one wants to do a total wipe-down every night. So, if you have the help, use it. Even small children can do things such as bringing in the guest towels or making sure their toys are put away. And giving kids responsibility can help them feel more a part of the move.

Help is a good thing, so are cut corners

Now may be a good time to hire cleaning help, or if you have someone already, it might be a good time to send more work their way. Otherwise develop a housework habit. Get the kids involved and pull out the vacuum every night

There’s also something to be said for not cooking. If you have to clean out your fridge and stove, and take everything off your countertops anyways, ordering in, getting prepared food from your grocery store, or having a frozen dinner diet can save time, and more importantly, energy. Remember, it’s temporary.

Staycation anyone?

If you have pets, it’s a good idea to board them. Dogs may get aggressive toward strangers, and cats, well, let’s just say they have a habit of needing to use the litter box at the worst times. If a close friend or family member can take your pet, can they take you in as well? Is this an opportunity to catch-up with someone? Or, can your mess-monster kids enjoy some quality sleep-over time with friends the night before the open house?

Remember, you have a lot of work to do keeping your house a clean slate for that potential buyer. Go easy on yourself.

Photo credit: digitalart / FreeDigitalPhotos.net

Who says you can’t have it all? Midtown living takes on a downtown vibe when you’re just steps from the subway, great restaurants and all the happenings at St. Clair & Bathurst. At home, airy interior spaces, a sublime outdoor rooftop terrace infinity pool and amenities await.

Rise Condominiums is a new condo project by Reserve Properties currently in pre-construction at 501 St Clair Ave. W. in Toronto. The project is scheduled for completion in 2015. Available condos range in price from the low $200,000′s to over $600,000.

Development Name- Rise Condominiums
Developer- Reserve Properties
Location – 501 St Clair Ave. W. (South-east corner of Bathurst St. and St. Clair Ave. W.)
City/Neighbourhood – Toronto
Price From – Low $200k to over $600k
Style – 25 storey tower with 320 units
Size – 437-865 sqft
Features – 9 ft. ceilings. Luminous engineered hardwood floors throughout. Custom European kitchens with stone counter tops, stone surfaced island, single or double under-mount sinks, glass tiled back-splash and stainless steel appliances. The bathrooms feature frameless glass shower, rain shower head, deep soaker tubs and porcelain tiles.
Amenities – Rooftop Terrace with Pool, Outdoor Cabanas, Outdoor Dining Area, Fire Pit, Outdoor Cooking Stations, Private Dining Room, Library, Workout Facilities, Yoga Studio, Change Rooms, Sauna

For more information, please contact me for consultation

The Beverly Hills Resort Residences is the latest addition to Great Lands’ outstanding portfolio of choice properties in the Greater Toronto Area.

The development has been planned as an extremely upscale, resort-style development which will incorporate, for the first time in Richmond Hill, a “woonerf” street with an exclusive high-end restaurant, boutiques and personal service shops. The podium level will feature an indoor/outdoor pool, spa, cocktail bar, a 20 foot gas fireplace, and more.

The project was named “The Beverly Hills” because we think it best represents the image of the complex, with high-end resort style amenity areas that would compete with anything in Beverly Hills, California. Think of Rodeo Drive shopping, mixed with a Caribbean resort upstairs. I wanted it to be a sustainable active living environment, and a destination point, where the younger generation will be interested to settle, and be closer to their families.

One of the unique aspects of our development is these luxury buildings will be affordable to the average consumer or first time buyer, as we will be capping the down payment before occupancy at only 15%, and spreading that over six payments in two years. That is unheard of in the industry.

I sincerely believe that if you purchase a new home from us, it will be the start of a strong and lasting relationship between our family and yours. I encourage you to shop the market, and then come to us last. You will then understand the “Great Lands Advantage”.

Developer- Great Lands
Style – Four towers ranging from 11 to 24 stories
Size – 500-1000 sqft
Features – Coming soon – luxury, Resort feel – hardwood floor through out – granite counter tops – amenities
Location – South East corner of Yonge and Sixteenth

For more information, please contact me for consultation