Locating The Discount Mansions – Deal of the week

I have a client that has a large family and he asked me to locate some good deals for him. I searched the whole GTA for single family homes in subdivisions that were above 5000 sq.ft. and under $1.1 million dollars. Here is my research for anyone looking for the same kind of properties.

At under $1,100,000 there were only 3 properties.

232 Boake Trail, Richmond Hill for $888,888 Expired
232 Boake Trail, Richmond Hill for $868,888 Back on the market!
29 Pilgrim Drive, Markham for $979,900
34 Winterport Court, Richmond Hill $1,069,000

-please click here- for the MLS listings.

Please contact me to discuss any of the listings or any other real estate issues.

Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008

Power of Sale Listings – Week of Jan 26th

For this week there is an increase in the number of power of sale listings for freehold properties in Toronto and a decrease of power of sale condominium units.

This week I will include power of sale listings from Richmond Hill, Markham, Mississauga and Oakville.

TORONTO

Freehold properties please - click here page 1- and - Page 2 -

Condominium properties please - click here-

RICHMOND HILL / MARKHAM

For properties please - click here -

MISSISSAUGA / OAKVILLE

For properties please - click here -

For other areas in the GTA, please request it by emailing me and I will email the listings to you.

Please contact me to discuss any of the power of sale listings.

Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008

Toronto National Home Show presented by Re/Max 2009 Feb 20 – Mar 1

2009 National Home Show

Located at the Direct Energy Centre, Exhibition Place
100 Princes’ Blvd.
Toronto, ON
416-263-3000
Click here to map your route using google maps.

It runs from Feb 20 to March 1.

Regular tickets are $15. As a Re/Max Agent I can get tickets for $8. Please contact me if you are interested in purchasing tickets.

***All my tickets have been distributed. Thank-you to all my clients for coming to the show.

6 Reasons to go:

• Explore the 2009 Dream Home: affordable luxury and easy DIY ideas
• Save on the latest products for all your home & garden needs
• Our new tySTYLE feature – Ty’s must have products, designs and DIY ideas
• Meet Ty Pennington
• Tour 32,000 SQ FT of garden ideas – 8 gardens from Eco to Small Spaces
• Shop, find ideas & advice – Ontario’s best retailers all under one roof

Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008

Canada’s New Mortgage Rules

Effective October 15 2008, the federal government implemented new mortgage criteria. Impact is minimal, only affecting individuals obtaining a mortgage with a down payment of less than 20 per cent from a federally regulated lender.  The first change is the maximum amortization period being reduced from 40 to 35 years. The second change is the minimum down payment is now five per cent, eliminating the no down payment program.

This is good news because the higher amortization periods may mean slightly lower monthly payments but results in higher interest payments in the long run.

The no down payment option has been eliminated from federally regulated lenders, however some lenders have some creative solutions to help customers. The program will lend you 95% and give you the extra 5% for free. What’s the catch? Well as you can guess, nothing is free. Basically the 5% is rolled into the higher interest rate you would pay. I think it is a good program for the ones that really need it.

Contact me and I can help refer you to experienced mortgage brokers that can solve your financial needs.

Canada’s central bank cut its benchmark interest rate to its lowest level on record to 1%. As a buyer, this is the golden opportunity you have been waiting for. Low real estate prices with the addition of low interest rates. You can not lose with this combination investing long term in real estate. Grasp this opportunity, contact me and let’s look for some good deals.

Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008

Week of JAN 20th – Power of Sale Listings in Toronto

I must apologize for being a day late posting Monday’s Power of Sale List. Let’s start bargain hunting!

This is a list of power of sale properties for Toronto. Power of sales are usually properties where the owner is not making mortgage payments and the financial institution is selling the property to recoup their money. Many of the properties are great for the first time home buyer or the handy man.

For freehold properties please - click here -

For condominium properties please - click here-

For other towns or cities around GTA, please request it by emailing me and I will email the listings to you.

Please contact me to discuss any of the power of sale listings.

Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008

10 Bellair Street Condominiums Yorkville Condos in Toronto

10 Bellair Street

Today I will be featuring one of my favourite condominium buildings in Downtown Toronto at Olde Yorkville Village. 10 Bellair Street is an upscale luxury condominium built in 2003 by Tridel and Brookfield. It is conveniently located right in the heart of Yorkville Village at the intersection of Yorkville Avenue and Bellair Street. 10 Bellair presents a most distinguished presence for those who appreciate the value of an extraordinary address.

There are 26 stories plus two penthouse units that are two levels each. Units consist of studio, one, two and three bedrooms units up to 4000+ sq.ft. suites.

The Bellair Club is a 2-storey 5-star fitness and spa centre which includes a landscaped sky garden terrace. Amenities include a “Bellair Club & Spa”, billiard room, Havan lounge, ballroom, 2 guest suites, golf simulator, glass pavilion, conference room, party room and complete exercise facilities featuring an indoor pool, sauna and gym. Residents and their guests may enjoy the recreational room and rooftop terrace with bbq’s. There is security and concierge services operating 24 hours a day. Executive concierge and valet parking.

In my opinion, this is certainly one of the best condominiums in Toronto. It offers lavish suites with superb amenities in a convenient location.

No studio nor 1-Bedroom suites available for sale/lease at the moment.
Available 2-Bedroom suites start at $1,195,000 (approx. 1,500 sq.ft) upto $6,000,000 (approx. 4000 sq.ft.)
2-Bedroom leases starts at $5,300 / month.

<Click here to view units for rent>

<Click here to view units for sale>

If you would like more information on 10 Bellair or to view available units to rent or buy, please contact me.

Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008

Toronto (GTA) Home prices and sales drop in December

The average GTA price in December 2008 was $361,415. During the same period last year, the Toronto MLS system recorded an average of $394,931, and in December of 2006 overall GTA prices averaged $336,217.

For December 2008 recorded sales were 2,577 down from 4,646 sales recorded during the same period last year. A 45% drop in sales.

FOR SELLERS

There was a 45% increase in active listings and 29% increase with Days on the Market. We are definitely in a buyers market now. But for Sellers, there is nothing to fear, because with my promotional plans your house will definitely perform above these averages. Even though values have dropped, the average prices have stabilized and still remain above 2006 numbers.

Contact me and I can help you sell your home at the maximum value using the full extraction method.

For 2008 as a whole, prices averaged $379,347, compared to the $376,236 recorded in 2007, and the $351,941 average recorded in 2006. Sales were 74,552, compared to the 93,193 recorded in 2007, and the 83,084 record during 2006.

FOR BUYERS

As the above chart shows, sale numbers have been steadily declining since Mid-2008 and the active listing supply is high. We are in a buyers market and it greatly benefits the first time home buyer. This is the best time to buy low and sell high in the future. Real estate is a long term investment, so start early and invest.

Contact me and I can help you locate your dream home.

Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008

Power of Sale Listings in Toronto

On Mondays I will compile a power of sale list for Toronto. Power of sales are usually properties where the owner is not making mortgage payments and the financial institution is selling the property to recoup their money. Many of the properties are great for the first time home buyer and the handy man.

For freehold properties please - click here -

For condominium properties please - click here-

For other towns or cities around GTA, please request it by emailing me and I will email the listings to you.

Please contact me to discuss any of the power of sale listings.

Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008

Deal of the Week – 80 Western Battery Road and 50 Lynn Williams Street *Updated July 30

80 Western Battery Road and 50 Lynn Williams Street

This is a new loft condominium better known as Zip Condos and Loft.  It is located in the trendy Liberty Village. The best deal in this building are the studio units. The asking price starts at $199,000 $182,900 and potential rent is $1,000 /month. Maint. fee is $180/month. The reason I choose this building for this week’s deal is because of 3 elements.

• It has a low purchase price.
• It has good rental potential.
• It has great price appreciation potential.

At the moment, there are 1 available Studio units that I can show you. Asking price starts at $193,000 $182,900.

1-Bedroom units start at $245,000 and 2 Bedroom units start at $349,500.

Building amenities – 24-Hour Concierge, 2 Guest Suites, Underground Car Wash, Indoor Pool, Party Room, Sports Lounge, Cyber Lounge, Theatre Room, Well Equipped Fitness Room With Cardio Machines, Yoga And Aerobics Area.

To view the units or for a copy of the MLS listings at 80 Western Battery Road and 50 Lynn Williams Street, please contact me by email or cell.
To view the units for rent at 80 Western Battery Road and 50 Lynn Williams Street, please contact me by email or cell.

Kirby Chan
Sales Representative
Forest Hill Real Estate
info@kirbychan.com
www.KirbyChan.com
416.305.8008

By the way… I’m never too busy for your referrals.

Gibson Square in North York by Menkes

Gibson Square is a two tower condominum building located in North York at the intersection of Yonge Street and Park Home Avenue.  It is named Gibson Square because it is located beside the historical Gibson House Museum and Park.

On the main level, there will be retail stores fronting onto Yonge Street and Park Home Avenue. There will also be direct access to Subway.

The Gibson Club is located on the second level and offers over 20,000 sq.ft. of recreational amenities. Some of the amenities are two party rooms, billiards room, mahjong room, theatre, outdoor roof garden, board room, swimming pool, fitness room, yoga studio and games room.

Key features are floor to ceiling windows, granite counters, built-in appliances, marble bathroom vanity, porcelain tiles and plank laminate flooring.

Tentative Occupancy Date: October 2012

Please contact me for floor plans and prices and for your chance to buy at Gibson Square Condos.

Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008