Monday, February 7, 2011

Toronto Rental and Housing Update February 2011

The January numbers are in and we're off to 13% fewer sales in the GTA.  4337 in 2011 from 4986 in 2010.  The good news is that average prices have risen 4% from $409K to $427K.  According to Jason Mercer, TREB's senior manager of marketing analysis... “The average selling price is expected to grow at a moderate pace in 2011.  Growth rates in the three to five per cent range will be sustainable from an affordability perspective.”

Rental Market - There was a 27% increase in the "rental market" transactions from Sept 2010 to Jan 2010 compared to the same period of time in 2009.  At the same time there was a 22% increase in listings.  Many of these units are condo units bought buy investors who decided to lease instead of selling.  When you take a look at the rental rates in the Central, North, East and West district you see that the average rent either increased marginally or decreased by 1% in the 1BR and 2BR units.  Here are the numbers for the East & North Area.

East Area
• There were 107 one-bedroom apartments and 146  two bedroom apartments rented in TREB’s East Districts. The average rent for one-bedroom
apartments was $1,242 per month, down one per cent from the $1,259 per month recorded for the same period last year. The average rent for two- bedroom apartments was $1,505 per month – up marginally from last year’s figure of $1,501 per month.

North Area
• There were 195 one-bedroom apartments leased in TREB’s North districts for an average rent of $1,346 per month - up two per cent from last year’s average of $1,318 per month. There were 198 two- bedroom apartments rented for an average of $1,721 per month - up one per cent from the average of $1,703 per month recorded during the last four months of 2009.

The Toronto Condo Real Estate
www.TheTorontoCondoRealEstate.com

Jas Jagpal, BSc. York University - Toronto RE/MAX Sales Representative
Cell: 647-272-6629  O: 950-471-0002   F: 905-471-7441

Sign Up
For Vip Savings with Jas.
  BUY • SELL • INVEST • Assign • Lease in the GTA.

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate Houses: www.JasJagpal.com
Blog Posted on: 
www.1stoprealestate.ca : www.TheCondoReport.ca : www.LinkToMorningside.com : www.MarkhamBoxgrove.com
Do you own a Condo at Scarborough Town Centre and looking to sell? 
Consider getting Jas's Flat FEE MLS Listing and SAVE Money.

©
Jas Jagpal, 2011

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Posted via email from Markham Boxgrove Real Estate Blog

Thursday, February 3, 2011

Tridel Aristo - Yonge & 401 - VIP SAVINGS - Sign up Today!

DOWNTOWN  -  UPTOWN
Downtown North York and Uptown Toronto at Yonge & 401

TRIDEL's Luxury Condo -  21 Storey Aristo At Avonshire

Feb 3, 2011. Update

Contact me for VIP PRICES and Floor Plans.

Deadline is Feb 11th, 2011 to have your Worksheets completed and get VIP Savings.

GET FREE LOCKER & $3000 off 1BR + D units and $5000 of 2BRs

Buy VIP, get first selection of suites before it opens to the public in March 2011 and save!

FEATURES and AMENITIES

The Toronto Condo Real Estate
www.TheTorontoCondoRealEstate.com

Jas Jagpal, BSc. York University - Toronto RE/MAX Sales Representative
Cell: 647-272-6629  O: 950-471-0002   F: 905-471-7441

Sign Up
For Vip Savings with Jas.
  BUY • SELL • INVEST • Assign • Lease in the GTA.

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate Houses: www.JasJagpal.com
Blog Posted on: 
www.1stoprealestate.ca : www.TheCondoReport.ca : www.LinkToMorningside.com : www.MarkhamBoxgrove.com
Do you own a Condo at Scarborough Town Centre and looking to sell? 
Consider getting Jas's Flat FEE MLS Listing and SAVE Money.

©
Jas Jagpal, 2011

Monday, January 31, 2011

Tridel Aristo at Avonshire - VIP Pre-Construction Sale - Yonge & 401 - Toronto, North York

Award winning builder Tridel, is offering up another luxury Condo near all the amenities - mid-town- Toronto!

Aristo 21 Storey at Avonshire will be offering 1BR, 1BR + D, 2BR, 2BR + D units.  Investors Register Today!

Prices and floor plans will be coming in a few days.  Register TODAY for VIP access.

The Toronto Condo Real Estate
www.TheTorontoCondoRealEstate.com

Jas Jagpal, BSc. York University - Toronto RE/MAX Sales Representative
Cell: 647-272-6629  O: 950-471-0002   F: 905-471-7441

Sign Up
For Vip Savings with Jas.
  BUY • SELL • INVEST • Assign • Lease in the GTA.

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate Houses: www.JasJagpal.com
Blog Posted on: 
www.1stoprealestate.ca : www.TheCondoReport.ca : www.LinkToMorningside.com : www.MarkhamBoxgrove.com
Do you own a Condo at Scarborough Town Centre and looking to sell? 
Consider getting Jas's Flat FEE MLS Listing and SAVE Money.

©
Jas Jagpal, 2011

Wednesday, January 26, 2011

New Condo Assignments - Save Thousands... Move in this Summer

Assignments have become a popular alternative for condo buyers in the Toronto Real Estate Market because they provide a WIN-WIN transaction. 

The original Buyer (investor) wins in 2 ways. 

1.  Investor wins by reaping some of the gains in value of their condo unit that has appreciated over the 3 to 4 years it took the build the Condo.
2.  Does not have to come up with closing costs and mortgage approval for remaining balance.

The New Buyer wins by:

1.  Buying NEW and below current market value of resale units.
2.  Enjoy thousands of dollars in savings
3.  Move into your unit within few months instead of years.

Jas Jagpal and the professionals at The Toronto Condo Real Estate website can help you buy or sell an Assignment.

Assignments for Sale - 1BR + D at Tridel Solaris 2 - Scarborough Town Centre (Kennedy & 401) and Tridel Avonshire - North York (Yonge & 401) 650-700 Sq Ft.  Pool and all Amenities. Avonshire 9' ceilings.

The Toronto Condo Real Estate
www.TheTorontoCondoRealEstate.com

Jas Jagpal, BSc. York University - Toronto RE/MAX Sales Representative
Cell: 647-272-6629  O: 950-471-0002   F: 905-471-7441

Sign Up
For Vip Savings with Jas.
  BUY • SELL • INVEST in the GTA.

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate: www.JasJagpal.com
Posted on: 
www.1stoprealestate.ca : www.TheCondoReport.ca : www.LinkToMorningside.com: www.MarkhamBoxgrove.com
 
Do you own a Condo at Scarborough Town Centre and looking to sell? 
Consider getting Jas's Flat FEE MLS Listing and SAVE Money.

©
Jas Jagpal, 2011

Monday, January 24, 2011

Why Do Smart Home Buyers - Buy Assignments?

As a Toronto Condo Real Estate Professional... one of the questions people looking to buy a condo have is "what is a condo assignment?".  Often people aren't even aware they can buy/ sell a condo by way of an assignment.  Many of these Buyers would buy Condo Assignments if they knew they would be saving thousands and buying below market value of resale condos. 

In Condo real estate, developers need to sell a certain percentage of units when building a new Condo Tower inorder to get financing to build. For example, Tridel was selling Solaris Condo units in spring 2007, at Kennedy & 401, that are starting to occupying in spring 2011.  Most often investors by these units 3 to 4 years ahead of time at VIP prices and their Realtors help them get an Assignment clause in their purchase and sale agreement.

Why would the original purchaser assign?  There can be many reasons but the main two are: Investors save on "closing costs" and they do not have to arrange a mortgage on the remaining funds due.

The Pros of buying an assignment?  The advantages for a Buyer are big dollar savings!   They save thousands from the current day market price of buying a resale condo... in addition they get the pleasure of buying NEW and having a shorter wait period to move in (3-6 months instead of years). 

The Cons for a Buyer:  They have to come up with significant downpayment and make up the difference between what the original buyer paid an their paying.  See Example Calculation.

If you have an Assignment for Sale then advertise it at www.TheTorontoCondoRealEstate.com

If you are looking to buy an assignment, at Tridel's Solaris 2 (Kennedy & 401, near Scarborough Town Centre) or Tridel's Avonshire at Yonge and 401... go to the Toronto Condo Real Estate Website or contact me directly.  It's quite easy!

The Toronto Condo Real Estate
www.TheTorontoCondoRealEstate.com

Jas Jagpal, BSc. York University - Toronto RE/MAX Sales Representative
Cell: 647-272-6629  O: 950-471-0002   F: 905-471-7441
Sign Up For Vip Savings with Jas.  BUY • SELL • INVEST in the GTA.

Do you own a Condo at Scarborough Town Centre and looking to sell? 
Consider getting Jas's Flat FEE Listing and SAVE Money.

© 2011- Jas Jagpal, Making Good Things Happen For You!

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate: www.JasJagpal.com
Posted on: 
www.1stoprealestate.ca : www.LinkToMorningside.com: www.MarkhamBoxgrove.com

Posted via email from Markham Boxgrove Real Estate Blog

Monday, January 17, 2011

New Mortgage Rules Affecting Canadian Home Buyers and Sellers in 60 days


Some of you may have heard that our Finance Minister Jim Flaherty has just announced a few changes to our mortgage rules. They will take affect in 60 days:
 
1)        Maximum mortgage amortization will go from 35 years down to 30 years. (the difference works out to an extra $30 more per month for every $100,000 borrowed)
2)       The maximum you can refinance will go down from 90% to 85% of the value of the home
3)       CMHC will no longer support Home Equity Lines of Credit (if a client wants a line of credit to purchase, they must have 20% for down payment)
 
The first rule change may cause your clients to ‘act’ sooner rather than later, especially if they are interested in the 35 year amortization option.
The other 2 will likely have minimal impact as most clients refinance up to 75 or 80% so they won't have to pay CMHC premiums, and most clients do not qualify for CMHC lines of credit as the qualifications are very strict.
 
It is speculated that we will begin to see more ‘tightening’ of mortgage rules in the next few months as rates are forecasted to increase & we ( Canada ) try not to end up like the US .

Here is net impact of the first change a client with 90K income that could qualify for 415K with 5 % down, Now the same client will qualify for 397K, another way to look at it is that 4K more in income would be needed to qualify for 415K purchase price. THIS IS EFFECTIVE AS OF MARCH 18 for Mortgages and April 18 for Line of credit.

Here is the link to the official change: http://www.fin.gc.ca/n11/11-003-eng.asp

Wayne Marks TD - Mortgage Specialist
Raja Paul TD- Mortgage Specialist

The Toronto Condo Real Estate
www.TheTorontoCondoRealEstate.com

Jas Jagpal, BSc. York University - Toronto RE/MAX Sales Representative
Cell: 647-272-6629  O: 950-471-0002   F: 905-471-7441

Sign Up
For Vip Savings with Jas.
  BUY • SELL • INVEST in the GTA.

Do you own a Condo at Scarborough Town Centre and looking to sell? 
Consider getting Jas's Flat FEE MLS Listing and SAVE Money.

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate: www.JasJagpal.com
Posted on: 
www.1stoprealestate.ca : www.LinkToMorningside.com: www.MarkhamBoxgrove.com
 

 

Posted via email from Markham Boxgrove Real Estate Blog

Monday, January 3, 2011

News: Toronto Maple Sikhs - New Years Polar Bear Dip - Videos

WOW!  Fantastic Day it was.

Just Imagine two dozen Maple Leaf Sikhs taking the plunge in Freezing Lake Ontario!  It happened on Jan 1st, 2011 in pouring rain. 

As a team we had three goals and we reached them all.  

1.  Have female involvement. 

2.  Double the number of participants from last year's dozen. 

3.  Be the #1 Fundraising Team.

We had six ladies take the plunge and we raised over $7000 for Toronto's Habitat for Humanity more than twice the second place team.

For 2012 - We're hoping that more young Toronto Sikhs and Non-Sikhs join us! 

It would me amazing to see 50 people take the plunge and raise more than $10K for Toronto's Habitat for Humanity.

My sincerest Thanks to all those who sponsored me and helped me raise my goal of $1000!

I have uploaded a few videos to my YouTube channel.  Search "Toronto Maple Sikhs" or "Jas Jagpal".  I spent a considerable time editing the shots my wife took and even created a slow-motion classic with the "Chariots of Fire" Olympic soundtrack from my school days.

OK!!!! I promise my next posting will be back to the Toronto Real Estate Market.

Happy NEW YEAR and may it be full of Happiness, Health and Success!

Links to YouTube Videos

1.  http://www.youtube.com/watch?v=ectIXOazfGw   (Chariots of Fire - 8 min)

2.  http://www.youtube.com/watch?v=PCLEcHG94Zw  (Live Version - 5min)

3.  http://www.youtube.com/watch?v=v0c6kcqJCMI  (News- CP24 - 1min)

4.  http://www.youtube.com/watch?v=oiGJORiWVZs (Capturing Still Pictures - 1min)

__________________________________________________________________

Jas Jagpal, BSc. York University - Toronto RE/MAX Sales Representative
Cell: 647-272-6629  O: 950-471-0002   F: 905-471-7441

Sign Up
For Vip Savings with Jas.
  BUY • SELL • INVEST in the GTA.

Do you own a Condo at Scarborough Town Centre and looking to sell? 
Consider getting Jas's Flat FEE MLS Listing and SAVE Money.

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate: www.JasJagpal.com
Posted on: 
www.1stoprealestate.ca : www.LinkToMorningside.com: www.MarkhamBoxgrove.com
 

Posted via email from Markham Boxgrove Real Estate Blog