What went down in October

Dear Friend,
Despite the elections, the real estate market kept its torrid pace as Toronto Real Estate Realtors reported the sale of 8,804 homes through the Toronto Real Estate Board system, the most October sales in the history of the Board! The average price of a home has increased as well:
City of Toronto   $661,831
York region        $775,456
Durham Region $440,627
Peel region        $ 526,301

Call me if you want to know a breakdown of your particular area, I have the information.
The demand for homes remains high (and will go higher as immigration continues) and a shortage of homes for sale will ensure strong price growth into 2016, well above the rate of inflation.
There are several factors in play that make this is a great time to invest in real estate.
1.     A real shortage of rental properties. Basement apartments in Newmarket and Aurora are renting for well over $1,000 per month. For a basement apartment!

2.     Immigration continues and the influx of refugees as promised by the Liberal government will increase demand which will increase rental rates and purchase prices.

3.     The Wynne government is seriously considering allowing municipalities throughout Ontario to institute a second land transfer tax on top of the existing provincial tax. This will just increase the costs of purchasing a property if that occurs.

All in all, NOW is the time to invest in real estate!
If you have some questions, or are considering investing outside of the City, give me a call and let me put my expertise to work for you.
Have a great November and remember, “I am never too busy for your referrals!”


Your Friend in Real Estate

National Housing Day takes place on November 22nd

National Housing Day commemorates the day in 1998 that the Big City Mayor’s Caucus of the Federation of Canadian Municipalities declared homelessness to be a national disaster. National housing day takes place on November 22nd every year and has gone from one day of events to a week of events spanning from November 16th – 22nd.
The Toronto Real Estate Board (TREB) in collaboration with Canada Mortgage and Housing Corporation (CMHC), Habitat for Humanity Canada and Evergreen City Works hold and partake in a variety of initiatives aimed at raising awareness about the importance of affordable housing in the GTA.
Working in collaboration with our partners, TREB was able to compile statistics on the state of affordable housing in the GTA and Canada.
Share this infographic on your social media channels and help create awareness. Be a part of the conversation and use hashtag #NHW2015.
Through understanding where the need for affordable housing lies, we can better understand how to remedy it!

How REALTORS® Give Back


As a Greater Toronto REALTOR I know how fortunate I am to share in one of life’s most important milestones with thousands of GTA residents each year as they become homeowners.
REALTORS® much like myself know that important milestones like buying a home is not only one of the biggest financial and lifestyle decisions you will make, but also a dream many Canadians strive to achieve, and having the support from family and friends can make all the difference.
However, not everyone is fortunate enough to have such a support system and recognizing this, Greater Toronto Realtors consider it a privilege to help communities, and the people who live in them achieve that dream of homeownership, helping to put them on a path to success.
Each year, TREB Members donate $1 per member per month, which goes towards supporting shelter-related charities across the GTA. In 2015, GTA Realtors donated more than $480,000 that went to 60 shelter-related not-for-profit organizations.
Realtors are also very involved in their communities. Each year Realtors across the GTA donate their time to causes such as Habitat for Humanity. These home builds not only help a deserving family obtain affordable housing, but studies have proven that home ownership has decreased health problems in Habitat families. Those families have also seen an increase in the number of children that will go on to pursue a bachelors degree or higher.
TREB Members also offer assistance to young people in their communities through scholarship programs, summer work placements and the children’s breakfast program. These initiatives help set up youth for success, so we can continue to build healthier, stronger and more vibrant communities.
GTA Realtors are passionate about the communities they work in, because they live in them too. They realize that giving back to their communities helps make it a better place to live for all.
You too can help make a difference by volunteering your time, organizing a fundraiser or making a financial contribution. To get involved and to learn more about the many ways Greater Toronto REALTORS® are working to make a difference call me!

written by Mark McLean, TREB President

Renos that Add Value

Buying a fixer- upper is a great way to buy in a desirable neighborhood at an affordable cost. Renovating is a way to build equity in your home. Updates to the kitchen, bathroom or family room can maximize space for your family to grow and add value to your property.
When contemplating how you will update your home, it’s wise to keep in mind going green has big benefits and that which was once old can be made new again.
Recycle, Reuse, Reduce
What do donations and renovations have in common? The Habitat for Humanity ReStore. This building supply store accepts and resells quality new and used building materials. Funds support Habitat’s building programs while reducing the amount of used materials in the landfill. Check out ReStores online at:www.habitat.ca/en/community/restores/location
Before you decide to donate or recycle, maybe consider refurbishing old items to make them new again. Like updating a tub, a sink or countertop? Techniques for resurfacing and countertops made of more modern materials like Caesar Stone, recycled glass, concrete, steel, stones, and the myriad of tiles will give you lots of options for upgrading the look without replacing the whole bathroom or kitchen.
Go Green
 Energy efficient lighting, appliances, faucets, toilets and showerheads are a few options for increasing the green factor in your home, not to mention the monetary savings.
When it comes to flooring, cork and bamboo are among the greenest options as they come from renewable sources. Bamboo is also a great choice for cabinets. Another responsible option would be wood that is certified by the Forest Stewardship Council of Canada.
When purchasing windows look for low-E argon-filled units with the Energy Star® symbol to achieve the highest thermal efficiency.
Useful tip: Ever wondered how old your thermo-pane windows are? Most are stamped with the year and month they were made on the metal piece between the panes of glass.
Replacing an aging roof may prevent bigger problems from happening in the future. Roof shingles made from a variety of recycled materials are widely available and sometimes the life expectancy of your new roof is worth paying the extra costs. Housing is a long-term investment.
Heating systems and central air conditioning are wise investments for your home for a few reasons. Investing in high-efficiency doesn’t just benefit the environment, but as a homeowner you will experience significant savings for your household when you choose models with the Energy Star® symbol.
While décor may be subject to taste, you will find that energy efficient money saving upgrades have a universal appeal. Keeping these tips in mind can help you increase your home equity, while reducing your carbon footprint. They can also make for great selling features when it’s time to move again.
For more information about greening and renovating your home, or commercial properties call me at 416-410-6000.