Muddy York: Toronto Real Estate Blog

Entries from May 2009

Toronto’s Steps to Cure Cystic Fibrosis Event

May 28, 2009 · Leave a Comment

By Morgan Dumas and Diti Dumas

This Sunday marks the 2009 Great Strides™: Taking the Steps to Cure Cystic Fibrosis fundraising event. This walk has become one of the largest national fundraising events in Canada and includes thousands of co-workers, friends and families who come together each year as a community to help find a cure or an effective control for Cystic Fibrosis. Cystic Fibrosis (CF) is the most common, fatal genetic disease that affects the digestive system and lungs in children and young adults. Not only does CF block the absorption of adequate nutrients from foods, the disease severely affecgreatstridests the lungs and in time respiratory problems become increasingly severe and life-threatening.

This year’s event will be held at the Toronto Zoo from 8:30a.m. to 2:00p.m. on May 31st and CTV’s Tom Brown will be joining participants for this day of family fun.  If you collect a minimum of $25.00 in pledges (per participant) you will receive entrance to the Toronto Zoo, a map, walk activities, a FREE lunch, a loot bag (for children only) and access to a special show. Best of all, you will be helping to find a cure for this terrible disease that affects the lives of many children and young adults each day.

Last year, $1.73 million was raised to support vital Cystic Fibrosis programs. And over the years, this walk has proven to be a great opportunity for local supporters to make a difference in the lives of people who live with cystic fibrosis everyday.

For more information about the Great Strides™: Taking the Steps to Cure Cystic Fibrosis fundraising event please visit: https://secure.e2rm.com/registrant/LoginRegister.aspx?EventID=24838&LangPref=en-CA

Diti Dumas is a Sales Representative with Royal LePage R.E.S. Ltd./JOHNSTON & DANIEL DIVISION, Brokerage.  Diti is a regular contributor to the Muddy York Blog.  Diti’s website is located at www.ditidumas.com.

Morgan Dumas is an aspiring writer and journalism student from Ryerson University in Toronto.

Categories: General Information
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Muddy York Update – TREB Market Update – Mid May 2009

May 27, 2009 · Leave a Comment

trebThe Toronto Real Estate Board released the mid May 2009 statistics for the Greater Toronto Area.  The number of sales to date was 4,561 in the first half of the month compared to 4,422 in mid-May of 2008.   The average price for the GTA was $400,817 mid-May of last year compared to $399,811 this year.

In the Central District of Toronto, the average price was $439,459 compared to $437,205 last year.  The number of sales to date was 1,864 compared to 1,734 in mid-May of 2008.

Source: Toronto Real Estate Board

Categories: Market Information · Muddy York Quick Tip
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First-Time Homebuyers Report

May 26, 2009 · Leave a Comment

According to a recent Royal LePage First-Time Homebuyers Report, first time home buyers were surveyed as to the motivating factors impacting their decision to enter the real estate market:key

  • 86% of potential first time home buyers say low interest rates make them more likely to purchase a home
  • 81% cite lower housing prices as a motivating factor
  • 76% cite job security
  • 64% cite a stable economy as an important factor in their decision to buy.

In the Greater Toronto market, condominiums continue to attract first-time buyers with location and affordability serving as the leading driving indicators.  The First-Time Homebuyers Tax Credit and the increased RRSP deduction limit are proving great incentives for this demographic.  According to Royal LePage, first time buyers are approximately 25 to 30 years old with equal portions of couples versus single individuals purchasing.  Couples are spending up to $400,000 of the first purchase and singles (dominated by females) purchasing within the $250,000 to $300,000 price range.

Source:  Royal LePage

Categories: Market Information
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Plans for Lower Don Lands Unveiled

May 25, 2009 · Leave a Comment

toronto-waterfrontDetailed plans were unveiled for naturalizing the mouth of the Don River and transforming the Lower Don Lands, a 125-hectare (308-acre) industrial area located south of the rail corridor in the east end of Toronto’s harbour, into a new model for sustainable city building.

Plans include re-naturalizing the mouth of the Don River, by re-routing it through the middle of the area, and building in features such as wetlands boarders and a spillway and varying river depths to provide necessary flood protection to the flood prone area. The re-born river mouth will also be the centerpiece of a new mixed-use sustainable community featuring abundant parks and public green space.waterfront

The area’s first community will be the Keating Channel neighbourhood which runs from East Bayfront to the Don River and from the West Don Lands to Villers Street.  The precinct plan for the area consists of 25 blocks that will feature a variety of built-forms and architecture that supports a diversity of experience and uses.

Plans for the Lower Don Lands were developed by Waterfront Toronto in partnership with Toronto and Region Conservation, City of Toronto and Toronto Transit Commission through a comprehensive Environmental Assessment process which has included the examination of several alternative planning solutions.

Waterfront Toronto will submit the Keating Channel Neighbourhood Precinct Plan and related documents to the City of Toronto for approval this fall.  The approval process is expected to be completed by the end of the year.  More information.

Source:  Waterfront Toronto

Categories: Neighbourhood Information
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The Buyer Representation Agreement

May 22, 2009 · Leave a Comment

When it comes to just about every kind of contract, signing on the dotted line makes us all a little bit nervous.business-people-2

When selling a home, most people are aware they sign a Listing Agreement with a REALTOR®. There is, however, an agreement that REALTORS® are now asking their home-buying clients to sign. It’s an agreement that works in favour of buyers, guaranteeing the very best in real estate service.

The Real Estate Council of Ontario (RECO), a public agency formed to protect consumers and regulate the industry, introduced guiding principles mandating that REALTORS® ask their clients to sign a Written Representation Agreement at the earliest possible time.

When choosing representation, homebuyers have the option to sign either a Buyer Representation Agreement or a Buyer Customer Service Agreement.

The Buyer Representation Agreement signifies that for a designated period of time, the buyer has engaged a specific REALTOR® firm to work exclusively on his or her behalf at finding a property. The agreement confirms the REALTOR®’s commitment to make his or her best efforts for the buyer.

By comparision, signing the Buyer Customer Service Agreement the buyer acknowledges the Broker has provided him/her with written information explaining agency relationships including Seller Representation, Sub-Agency, Buyer Representation, Multiple Representation and Customer Service.

Source:  Toronto Real Estate Board

Categories: General Information
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The Legend of Leaside

May 21, 2009 · Leave a Comment

By Diti Dumas and Morgan Dumas

In 1819, John and Mary Lea and their young son William arrived to North America from Lancashire, England.  Upon settling in Canada, John purchased 200 acres of timberland and a farm with a log cabin on it. The piece of land was lot 13 concession 3, which is more recently known as being between Bayview Ave. and Leslie St. and half a mile from Eglinton.leaside

In 1829, the Lea family built a larger brick house to replace the log cabin they had been living in for the past 10 years.  The house they built was claimed to be the first brick house built in the town of York.  In 1841, the eldest of John Lea’s children, William bought an additional 130 acres to the south of his father’s land and built an octagonal home which he named Leaside.  The exact location of this house was very close to the present site of Leaside Memorial Gardens.

Over 10 years later, John Lea passed away leaving the farm to be divided between his remaining family. In 1881 William sold a parcel of land to the Canadian Pacific Railroad for a train station and gave ½ an acre to the Anglican Church for the original St. Cuthbert’s Church on Government Road (which is now Bayview Ave.) In 1891, the Don Branch of the railroad was built and the Leaside Junction Station was built three years later in 1894.  This is when Leaside became a name and more importantly a location on the map. For over 75 years, this station was one of Toronto’s busiest.  It was destroyed by a fire in 1940; however it was rebuilt in 1946.  What made the town of Leaside unique was not only its location, but also that it was the only town to be completely planned in detail before a single dwelling was built, and to grow to completely fulfill its intended design plans.  These plans were created by Fredrick Todd who decided to use many of the Canadian Northern Railway company executive’s names to label the streets. Some of these include; Laird Dr., Hanna Road and Wicksteed Ave.

On April 23, 1913, Colonel Davidson and Randolph McRae were successful in their application to the province of Ontario to incorporate Leaside as a town with a population of 43 and less than a month later the first town council was elected on May 8, 1913.  The residential development of this area was stalled due to the outbreak of WW1.  Also that year, Canadian Wire and Cable became Leaside’s first industry and opened the Leaside Munitions Factory during WW1.  Canadian Wire and Cable built 60 homes on Airdrie, Rumsey and Sutherland for its workers after the war.  Leaside was also the location of an airfield used for the training of Canadian pilots and on June 24, 1918 the first air mail delivery in Canada was to Leaside’s Airfield. Today, a commemorative plaque to honor this success is located at the intersection at Brentcliffe and Broadway.  In 1919 under the Ontario Housing Act the Leaside Housing Company received a loan to build working class homes. However, the building of these homes was stalled until the 1930’s due to transportation problems. In 1927 a high level bridge known as the Leaside Viaduct was built across the Don Valley and an underpass was built below the railway.  Between the 1930s and 1950s, the residential construction of Leaside continued and in 1967 the town of Leaside was amalgamated with East York to become The Borough of East York.  Thirty years later Leaside was amalgamated once again into the new megacity of Toronto.

Since then, Leaside has held onto this land for more than 150 years ago and it is no surprise that it continues to be one of the most sought after neighbourhoods in Toronto. It is especially appealing to middle- upper income families who are looking for an ideal location to raise their growing families.  The average house prices in Leaside start at $400,000 and include a variety of options including two-storey detached homes, semi-detached homes and bungalows.  For single people or smaller families, Leaside is also home to a variety of exclusive condo and townhouse projects which were built in the 1990s and start at $200,000.  It also has a collection of the nicest rental apartment buildings in the city.

Not only do the many wonderful parks in Leaside: Serena Gundy Park, Sunnybrook Park, Trace Manes Park and Howard Talbot Park make this area ideal for families, but also the sense of community you feel while walking down the main streets.  To the west of Leaside is the highly desirable Bayview Ave. which boasts an astonishing array of shops and restaurants including some of the best Gelato in the city (located at Hollywood Gelato). Bayview is not the only shopping district in this neighbourhood, residents can also walk or take a short drive to Eglinton Ave. and the shops at the Sunnybrook Plaza. The newest and possibly most exciting shopping development in Leaside is the Leaside Centre which includes large national retailers such as The Home Depot, Best Buy, Hallmark and Urban Barn at the south-end corner of Laird Dr. and Eglinton Ave.

For the younger members of the family, Leaside is one of the most sought-after school districts in Toronto and includes Northlea Public School in North Leaside, Bessborough Public School and Rolph Road Public School in South Leaside, Leaside High School and St. Anselm Catholic School.  For families interested in the private sector, Junior Academy, Crescent School and Childrens Gardens Nursery School are only a short walk or drive away. Leaside Memorial Gardens is said to be the pillar of this family oriented neighbourhood, with an arena, indoor swimming pool, curling arena and auditorium.

Bus service can be found throughout the interior of the Leaside community, south of Eglinton Ave. and connects to the St. Clair subway station.  Bus routes on Bayview and Eglinton Ave also connect to the Davisville and the Eglinton Stations. However, if you have a car, transportation is even simpler as you can drive downtown from Leaside in about 10 minutes via the Bayview extension.

As the many residents will tell you, Leaside is more than a neighbourhood of houses, schools, parks and stores; it’s a community that’s based on family! On a bright sunny morning you will see people with their families walking down the streets waving and talking to their fellow neighbours, and you will know that you are home and the key is Leaside.

Diti Dumas is a Sales Representative with Royal LePage R.E.S. Ltd./JOHNSTON & DANIEL DIVISION, Brokerage.  Diti is a regular contributor to the Muddy York Blog.  Diti’s website is located at www.ditidumas.com.

Morgan Dumas is an aspiring writer and journalism student from Ryerson University in Toronto.

Categories: Leaside
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Structures 101 – “This house isn’t going anywhere.” Or is it!

May 20, 2009 · Leave a Comment

By Carson Dunlop & Associates

Serious structural problems in houses are not very common, but when they occur they are never cheap to fix. Some can’t be fixed at all.  This report won’t turn you into a home inspector, but it will give you some of the common indicators.

Uneven Floors
Uneven floors are typical, particularly in older homes. Here is a trick to help distinguish between a typical home with character and a structural problem. If the floor sags to the middle of the home, it’s probably just a charming old home. Houses are like people, they sag in the middle when they get older. On the otherhand, if the floor slopes towards an outside wall, there is a good chance that the house has a significant structural problems.

Leaning House
While no house is perfect, this is one area where you should be very careful. Take a look at the house from across the street. If the house appears to be leaning one way or the other, there may be a structural problem. It may help to line up a front corner of the house with the back corner of an adjacent house just for reference. The corners should be parallel. Stepping back from the house to take a look is always a good idea. It is easy to miss something major by standing too close to it! If there is a lean that is detectable by eye, don’t take any chances, get it checked out.

HORIZONTAL FOUNDATION CRACKS ARE BAD

It is not uncommon to find cracks in the foundation. This goes for new houses as well as old ones. While there is a great deal of engineering that goes into “reading” these cracks, there is one rule that you should never forget. “Horizontal cracks are a problem”. Of course not all vertical cracks are acceptable, but they are generally not as serious as a horizontal crack.cracks

Harmless Cracks
Shrinkage cracks in a new house: Most new foundations will develop small vertical cracks. These cracks are a result of the concrete shrinking as it cures. These cracks are about  1 /8 inch wide or less. They don’t affect the structure. The only concern is leakage. If you see small cracks in a new foundation, don’t panic. In fact, in a new home, some builders will pre-crack the foundation and fill the crack with flexible material.

Plaster Cracks

Few things are more misunderstood than plaster cracks on the inside of the house.

The following crack types are not generally related to structural movement:
• a small crack (less than 1 /4 inch) that follows the corner of the room where two walls meet
• small cracks that extend up from the upper corner of a door opening

The following cracks may be related to structural movement –
• large cracks (larger than 1 /4 inch in width)
• cracks that run diagonally across the wall
• cracks on the interior finish that are in the same vicinity as cracks on the exterior of the house.

Carson & Dunlop Associates is a consulting engineering firm which has been devoted exclusively to building inspections since 1978.  Their website is located www.carsondunlop.com and they can be reached at (416) 964-9415.

Categories: Home Inspection Information
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REM Online: OREA says harmonized taxes will cost $2,000 per sale

May 19, 2009 · Leave a Comment

orea2The Ontario Real Estate Association (OREA) says the provincial government’s plan to harmonize the GST and PST will add over $2,000 to the cost of a real estate transaction, hurting the resale home market and prolonging the housing industry’s recovery from the current economic downturn.

“Now is not the time to be erecting barriers to homeownership,” says Pauline Aunger, president of OREA. “We need consumers to invest in housing to help get our economy going again.”

Under a harmonized sales tax (HST), homebuyers and sellers will have to pay extra tax on a range of services associated with real estate transactions such as legal fees, moving costs, real estate commissions and home inspection fees. Currently, consumers only pay the five per cent Goods and Services Tax (GST) on these services.

“These additional taxes could price some homebuyers, especially first-time homebuyers, right out of the market,” says Aunger. “Harmonizing will not help homebuyers in any way.”

For a resale house priced at $360,000, a HST could add over $2,000 in new taxes to closing costs. In total, a HST will add $313 million annually in new taxes to resale home transactions.

“In the last decade, Ontario’s homeowners have faced a barrage of new costs,” says Aunger. “From municipal land transfer taxes to sky rocketing property taxes, homeowners are being pushed to the brink to accommodate increasing demands from government. A harmonized sales tax is yet another cash grab on Ontario’s already overtaxed homeowners.”

Source:  REM Online – posted: 5/7/2009

Categories: General Information · Market Information
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1st Time Seller? Or Perhaps You Haven’t Sold a Home For Awhile?

May 18, 2009 · Leave a Comment

By Sandra Pate

Thinking of selling and not sure where to start? business-people-2
Feeling overwhelmed with so much  information coming your way?

Selling a home today has certainly changed in the past decade or two. Yet in many ways it hasn’t changed at all. There are really just 4 basic steps to selling your home successfully:

1.  Choose a great realtor.
2.  Spit & polish your home.

3.  Determine a fair asking price.
4.  Set a successful marketing plan.

Simple but not easy.  If you look at the list closely, you can see that each of the points from 2-4, will be determined by your choice of #1.  Very simply, the agent that you choose will determine the success of your sale. They will help you prepare your home properly, price it in the right range, create a successful marketing plan for your home and ultimately help you achieve your goals by getting the best price in the shortest amount of time, all the while making it look easy.

There are many articles written about ‘how to choose a realtor’. It’s not easy! And it is the single biggest decision you need to make. They all look great on paper, they all sound great. You might like one better than another or feel that one might do a better job than another. Like many major decisions in life, you should not only ask for references but actually talk with 2 or 3 of them. It might just be the best step that you make in the decision making process.

Happy realtor shopping!

Sandra Pate is a Broker with Royal LePage Real Estate Services Ltd./JOHNSTON & DANIEL DIVISION. Sandra’s website is located at www.postcardhomes.com.

Categories: General Information
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