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Location: North York – Between Yonge Street and Bayview Avenue, North of Highway 401.
Type – Bungalows
Use – Many North York bungalows are still livable, but many are being torn down and bought as vacant land to build custom homes. Many buy them as investments and rent them out.
Active Listings – click here -
Statistics
Statistics & Counts
| Field | Count | Mean (Average) |
Median | Mode | Low | High |
|---|---|---|---|---|---|---|
| List Price | 47 | $654,657 | $638,000 | $638,000 | $475,000 | $950,000 |
| Original Price | 47 | $666,174 | $649,000 | $728,000 | $475,000 | $950,000 |
| Sold Price | 0 | n / a | n / a | n / a | n / a | n / a |
| % List | 0 | n / a | n / a | n / a | n / a | n / a |
| Taxes | 41 | $3,811 | $3,727 | 3980.9 | $2,834.75 | $5,240.79 |
| Bedrooms | 46 | 3 | 3 | 3 | 2 | 4 |
| Washrooms | 47 | 2.4 | 2 | 2 | 1 | 7 |
| Days On Market | 0 | n / a | n / a | n / a | n / a | n / a |
Prices range from $475,000 to $950,000.
Premium streets can carry a 10% premium over the average price. Bungalows in the Mckee School District / Earl Haig School District are usually in higher demand and in turn command a higher price.
List or Buy your North York bungalow with Kirby Chan.
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.
LTD Condos
LTD built by Malibu Investments, is located north of Malibu Condos near the intersection of Bathurst Street and Lake Shore Boulevard. Construction has not begun so the builder is still selling at pre-construction prices.
The builder describes the building as having the edge of industrial warehouse chic, mixed in with a dose of contemporary glass, planted with a lot of greens resulting in a cool, casual living space combined with an urban attitude.
LTD will be 15-storeys high with 187 suites. All units will have balconies or terraces so you can always take a step outside and take a breath of fresh air. Ground level units are live/work 2-storey units and come in 1-bedroom plus den or 2-bedroom layouts.
Amenities include a fitness centre, party room, billiards room, private screening room and a lounge with kitchen, dining table and bar. Guest suites and vistors parking provides convenience to your guests.
Suites finishes include stainless steel appliances, granite kitchen countertops with tiled backsplash, stone vanity tops and wood veneer floors, 9-foot ceilings and balconies.
Studio units start at $185,900.
1-bedroom units start at $215,900.
1-bedroom + den units start at $237,900.
2-bedroom units start at $348,900.
2-bedroom + den units start at $441,900.
Live/Work units start at $346,900.
Parking spaces – $29,000
Lockers – $5,000
Projected Occupancy – May 31st 2011
The Builder is offering me limited time incentives. Please contact me for more information on incentives, floor plans and pricing.
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.
Market Watch – March 2009
In March 2009, Greater Toronto REALTORS® reported 6,171 sales –
down seven per cent from March 2008, representing the smallest year-over-year decline in the last five months. The average price for March transactions was $362,052 – down less than five per cent from the same month last year.
“The Greater Toronto housing market has stood up very well given the challenging economic times the world has experienced in recent months,” commented TREB President Maureen O’Neill. “In fact, over the past two months, the situation in the housing market has improved.”
The seasonally-adjusted annual rate of sales increased to 65,600 in March – up 36 per cent from the ten-year low reached in January.
“Sales in March increased at a rate over and above what would be expected from the normal spring-time bump,” said Jason Mercer TREB’s Senior Manager of Market Analysis. “A greater number of households have taken advantage of increased affordability in the housing marketplace.”
The median price in March was $317,500 from the $326,000 recorded in March of 2008. The median price in March was $317,500 from $312,900 in February 2009.
Source: Toronto Real Estate Board
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.
After a 2-day snow storm, the sun has returned. The market interest is certainly picking up, with our office registering 900 showings this week. 50% of the analyst would say it is going to get worse. 50% of the analyst would say it is the bottom now and the housing market will rebound. To be honest with you, who really knows. These people are just guessing, and what I know is 50% of them are going to get it right and be labeled as experts. The other 50% will have to try their luck again. I like to look at the stats and I will provide the March housing statistics in the next post. In summary for the month of March, 2009 vs. 2008, we are down 7% in sales transaction and down 5% in average price. When compared to the month of January and February the housing market is improving at a steady rate. It seems it is not as bad as the media portrays it to be.
Let us move on to this week’s list of power of sales.
Power of Sale Listings for Central/North Toronto
Freehold/Condominium properties please - click here -
Power of Sale Listings for East Toronto
Freehold/Condominium properties please - click here -
Power of Sale Listings for West Toronto
Freehold/Condominium properties please - click here -
York Region (Richmond Hill / Markham / Vaughan / Aurora / Uxbridge/ Stouffville) – There are very few Power of Sale listings for the towns in York Region, so I have lumped them together.
Freehold/Condominium 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
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.
Toronto Real Estate
Kirby Chan
Toronto Power of Sale
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.
The warm weather has arrived! 13 degrees today, looks like spring is coming early. Good weather affects real estate prices and I feel this as more clients are calling me to see homes and to get a market evaluation on their own home.
Let us take a look at this week’s list of power of sales.
Power of Sale Listings for Central/North Toronto
Freehold/Condominium properties please - click here -
Power of Sale Listings for East Toronto
Freehold/Condominium properties please - click here -
Power of Sale Listings for West Toronto
Freehold/Condominium properties please - click here -
Richmond Hill / Markham / Vaughan – There are very few Power of Sale listings for the three towns in York Region, so I have lumped them together.
Freehold/Condominium 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
TREB MARKET WATCH
The average GTA price in February 2009 was $361,305. During the same period last year, the Toronto MLS system recorded an average of $382,048.
For February 2009 recorded sales were 4,120 down from 6,015 sales recorded during the same period last year. A 32% drop in sales.
“A considerable number of transactions continued to take place in February 2009. Motivated buyers and sellers, who were aware that market conditions changed over the past few months, were able to negotiate transactions acceptable to both parties,” said Toronto Real Estate Board President Maureen O’Neill.
On a month-over-month basis, sales and average price were above January levels of 2,670 and $343,632 respectively. The housing market is seasonal. Traditionally, in the first half of every year, sales and average price climb to their highest levels in late spring before trending lower from July onward.
“While the economic downturn has had an impact, the GTA housing market is resting on a solid foundation. Current home prices and mortgage rates suggest that GTA homes have become more affordable on average,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis. “A greater number of home buyers could take advantage of this affordability once their positioning in the economy becomes more certain.”
Typically the spring real estate market tends to experience more activity and with the Canadian economy experiencing a period of low mortgage rates and strong immigration, this trend could continue. According to Statistics Canada, Canada welcomed 247,202 permanent residents in 2008, 70,000 more than in 1998, and well within the Government’s planned range of 240,000 to 265,000 new permanent residents for 2009.
The median price in February 2009 was $312,900 from the $324,000 recorded during February of 2008.
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
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
During the first half of December there were 1,487 resale transactions reported in the GTA. Sales are down from 2,868 sales recorded in the same period a year ago. The average price is currently $360,652 down from $404,707 recorded in the same period a year ago. During the same period in 2006, the average price was $343,048.
There are currently 24,708 listings on the TorontoMLS system, from 17,027 a year ago. The average number of days a home now remains on the market is 43, as compared to 33 days a year ago. Sellers are achieving 96 per cent of their listing price, as compared to 98 per cent a year ago.
Treb President Maureen O’Neill assures us that the situation is not as bad as what the media has portrayed, “Keeping today’s market statistics in perspective, MLS® statistics confirm that over the last 10 years the price of homes has increased in value. What this means for the consumer is that real estate continues to hold its value and is a solid choice for long-term investments”
Who can benefit from the reduced sales and lower average prices?
This is an excellent time for first time home buyers. They get to enter the market with a lower entry price. In addition, they get rebates from the Provincial and Toronto Land Transfer Tax.
This is an excellent time for home owners that want to move up in to a larger home or to a better area. Even though their existing home has dropped in price, their potential home has dropped even more.
This is an excellent time for investors looking for an investment out of the stock market. A safe investment would be a condo studio unit similar to my previous deal of the week. Small studio units and one bedroom units are the safest in our existing economy because affordable low-cost housing is in high demand for sale and lease.
I take in to consideration your location, price and your own personal financial and family situation when considering your purchase or sale. I can provide you with information about neighbourhoods, school districts and realistic prices because of my vast knowledge of the GTA.
Kirby Chan
Real Estate Sales Representative @ Re/Max
info@kirbychan.com
www.KirbyChan.com
416.305.8008
