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21 Melbourne Drive
This is Part 2 of “How to read a MLS listing on Realtor.ca”. We will use the same listing at 21 Melbourne Drive for our example. Has it been a month already and it’s still on the market?
Last time we left off at the listing agents Name and Brokerage.
Let’s move on to the meat and bones of the listing. Under the thumbnail photos, we have the General Description. It’s a very limited space for sales representatives to try to write all the positive features they can think of. Hence the use of Acronyms, with some easy to understand and some so puzzling it takes me a couple minutes to decipher. Let’s take a look at some of the special ones.
Premium lot – This description is very subjective. Some agents would classify corner lots or pie shaped lots or lots backing onto a school as premium. I like to reserve the premium lot description for homes that are backing onto ravines, golf course or lakes. It’s premium because it offers privacy or offers water access. In this case, it may be premium because it is O/L ravine. We will get to that soon.
$$80K Upgrades – Ask for the upgrade list from the builders.
** O/L Ravine – Ravine is across the street behind the daycare parking lot.
*Stone Front *Granite Foyer & Glamorous Hardwood *Lots Of Halogen Pot Lights *Crystal Chandelier & Wall Sconce *Stainless Steel Gas Stove – Straight forward.
B/I Dw – Built-in Dishwasher.
Tumble Marble B/S With Island – That’s B.S. standing for Back splash. So the kitchen has a marble back splash and a centre island for food preparation.
**Approx 2700S.F. – maybe less or more. Usually less.
Cvac+Equip – Central Vacuum + Equipment. Many times abbreviated as CV
Cac, Eac – Central Air Conditioning, Electronic Air Cleaner
Property section – This section describes the Parking and Utilities that service the property.
Building section – This section describes the type of house. In this case, it’s a 2-storey detached brick dwelling with A/C.
Rooms section – This section describes the layout and where each room is located. It also gives the dimensions of each room.
Heating section – This home is heated with Force Air Gas which is a gas furnace. Other variations are Electric which could be baseboard heating or an electric furnace. Another one is oil heating which are radiators.
Land size – Just repeating the lot size here.
It’s pretty simple once you get the hang of it. If you have any acronym that you come across that you don’t understand, ask me in the comments section.
I hope this helps you in reading a MLS Listing, please leave me a comment if you have found this helpful or have any other questions.
Going above and beyond for my clients,
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.
21 Melbourne Drive
Let’s kill 2 birds with 1 stone. I will explain the different parts of a MLS listing while featuring the deal of the week. This week I am featuring a 2-storey detached home at 21 Melbourne Drive in Bayview North of Richmond Hill.
At the top of page we start with the MLS number. Each listing has a MLS number that is assigned chronologically. In Toronto MLS the first letter designates the area the property belongs to . C = Central / W= West / E = East / N = North. This property is located in Richmond Hill so the MLS# starts with a N. If a listing is terminated/expired and is re-listed than a new MLS# will be assigned.
Next to the MLS# is a fairly important part of the listing, the LISTING PRICE. In this case, they are asking $595,000.
Roll you mouse over the thumbnails to see a larger photo. To see more photos you can click on the <more> button.
Building Type: House – This property is a house. Other types are townhouse, rowhouse and apartment.
Bedrooms: 4 – This property has 4 bedrooms. This does not include bedrooms in the basement.
Bathrooms: 4 – This property has 4 bathrooms. Note that the powder room on the main level counts as a bathroom here.
Storeys: 2 – This property has 2 levels not including the basement.
Land size: 50.00 x 98.50 FT – This is the size of the lot measured in Feet. The frontage is 50 feet wide and the depth is 98.50 feet long. Do you know where the front of this lot starts? Is it at the road or at the sidewalk? You can walk to the rear lot line and measure out 98.50 feet. But I can tell you the lot starts behind the sidewalk. A misconception is that the land in sub-divisions extends out to the road boundary. It is the same with homes that have no sidewalks, the city owns the front portion and can pave a sidewalk in the future.
Location: 21 Melbourne Drive – This is the address of the property.
On the right hand side are the names of the Real Estate Representatives (Teresa Tsui & Peter Hin-Tak Tang) that are listing the property. You do not need to know this because you will be picking up the phone and calling ME! “Hey Kirby, is this house at 21 Melbourne Drive a good buy?”
By the way, I’m never too busy for your business and any of your referrals.
Going above and beyond for my clients,
Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008
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
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
This is a renovated bungalow siting on a 50-foot frontage lot. It is located in Thornhill at Yonge Street/Steeles Ave. East. Exterior has been updated with a stucco finish. Interior has been substantially renovated with new hardwood floors, granite kitchen, new 4 piece bathroom. -Please Click here for a full set of interior photos-
This is a great property to live in now and build later. Many bungalows in the area have been torn down by builders to build custom homes. The asking price is $350,000 and has been on the market for 1 month. As a comparison, for the past two years the lowest price a bungalow has sold on this street was $357,000 with no renovations.
If you are looking for an investment, this is a great chance buy this property and rent it out while you sit back and let it appreciate in the coming years. Land in North York is getting scarcer so sooner or later, development will move north of Steeles.
When the market was high, were you thinking how come I did not buy when it was low? Well it is the time to buy now, because prices are low. If you wait and try to find the bottom, you may miss everything. For the past couple of years, real estate has been a good short-term investment but that has changed now. You have to get yourself into a good position now and hold real estate as a long term investment.
This one won’t last long. Please give me a call and I’ll show you this fabulous bungalow.
Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008
