Tag Archives: Toronto Real Estate

Toronto Real Estate Board Mid-Month Resale Housing Figures

The Toronto Real Estate board has released its market figures for resale home sales during the first two weeks of January. According to their press release, home sales in the Greater Toronto Area have increased by six per cent over the first two weeks of January in 2011.

“The market didn’t miss a beat after the holiday season,” said Richard Silver, the President of the Toronto Real Estate Board in a press release, “with robust sales growth continuing and sellers’ market conditions remaining in place. Strong competition between buyers continued to push the average selling price higher in the Greater Toronto Area relative to a year ago.”

The average selling price has increased by 8.5 per cent.

“Prices were up for most major home categories in the GTA in comparison to last year,” said the Senior Manager of MArket Analysis for the Toronto Real Estate Board, Jason Mercer, in the same press release. “The strongest price growth was for single-detached homes in the City of Toronto. The average price of singles in the 416 area code was up by 22 per cent year over year, pointing to a greater weighting of higher end detached homes changing hands compared to the same time last year,” he said.

What Happens When A Seller Fixes A Problem, But Not Very Well?

We all know that sellers should always disclose any potential problems with a home to buyers, for both ethical reasons and to protect themselves from potential legal issues later on down the road.

But what happens when a major problem in a home was repaired (or thought to be) by the seller?

If a problem has been repaired, even poorly, by the seller, the law is unclear on whether the seller must inform buyers about the issue.

This CBC news story out of British Columbia details a case where this exact situation has occurred. The seller repaired water leakage problems in the basement, but didn’t do a great job. Because the seller repaired the issue, he didn’t have to tell the buyer due to British Columbia real estate laws. And now the buyer is out $50,000 because of the unexpected emergency repairs that were needed.

A signed disclosure statement told the buyer there were no problems, and a home inspector checked out the home in advance and found no defects, so the buyer bought the home.

Later, the buyer consulted with a contractor who determined the initial repair work was “substandard” and that the proper work permits were not taken out.

What do you think? Should buyers be fully informed about ALL previous issues with a home, even if they have been repaired? Should this seller be on the hook for the $50,000?

The My Great Neighbourhood Contest

Do you love your neighbourhood? Is it the perfect place to live?

Royal LePage has announced its second year of the My Great Neighbourhood contest, in which Canadians can submit entries about neighbourhoods they love for a $20,000 grand prize.

“Canadians have a lot to be proud about and the My Great Neighbourhood contest allows residents from coast to coast to creatively showcase the many reasons why they love where they live,” said Royal LePage Real Estate Services president and chief executive Phil Soper in a press release. “We encourage Canadians to share the beauty of their city, the caring spirit of their neighbours, or what makes them proud to live in their community,” he added.

In addition to the grand prize of $20,000, a second prize of $3,500 and a third prize of $1,500 are also available. Entrants can consist of individuals or groups, and can either submit a video or photographs with their entry detailing why their neighbourhood is the best place to live. Entries will be voted on by the public and then a jury.

The contest ends on October 21, 2011 and the My Great Neighbourhood website is available here.

This site is owned & operated by: Royal LePage Real Estate Services Ltd Johnston & Daniel Division,477 Mount Pleasant Road, Toronto, Ontario, M4S 2L9, 416.489.2121. The content is provided by a number of sources as referenced in the contribution list.

Title Insurance Explained (Part 4 of 4)

Peter Powers is a Sales Representative with Royal LePage Real Estate Services Ltd. Johnston & Daniel Division. Peter is a regular contributor to the Muddy York Blog. Peter’s website is located at www.peterpowers.ca.

Title Insurance Explained (Part 3 of 4)

Peter Powers is a Sales Representative with Royal LePage Real Estate Services Ltd. Johnston & Daniel Division. Peter is a regular contributor to the Muddy York Blog. Peter’s website is located at www.peterpowers.ca.

Title Insurance Explained (Part 2 of 4)

Peter Powers is a Sales Representative with Royal LePage Real Estate Services Ltd. Johnston & Daniel Division. Peter is a regular contributor to the Muddy York Blog. Peter’s website is located at www.peterpowers.ca.

Title Insurance Explained (Part 1 of 4)

Peter Powers is a Sales Representative with Royal LePage Real Estate Services Ltd. Johnston & Daniel Division.  Peter is a regular contributor to the Muddy York Blog.  Peter’s website is located at www.peterpowers.ca.

It’s Moving Day!

By Heather Rovet

Moving day is here and you are beginning a new chapter in your life and putting roots down in a new home.  You’ve been dreaming about the new space, envisioning what furniture will go where and what colour to paint the living room.

Moving day can also be stressful.  There is a lot to do and one always wants things to go as smoothly as possible.  Whether you have hired movers or rounded up friends and relatives to help, here are a few things one can do to make moving day a pleasant day!

1. Have a Basic Floor Plan
This will save time and eliminate confusion.  Drawing a floor plan of your new home and then tagging big furniture pieces accordingly allows the movers to know where to put what.

2. Be Present During the Packing and Moving
If you have hired professional movers to pack, pick-up and deliver your furniture and boxes it is wise to be on hand in case they have questions and also so you know what is going in the boxes.

3. Make it Easy on Friends and Family
If you are using friends and family in lieu of movers make it easy for them and be as organized as possible.  Have all your boxes packed before they arrive so all they have to do is carry them to the van.  Feed and water them sufficiently throughout the day!

4. Keep Children and Pets Out of the Way
No matter who is moving your stuff, barking dogs, hiding cats and energetic kids running around is distracting for the movers, unsafe for the children and stressful for the pets.  If it is a school day perhaps arrange a play date for after school and take the pets to a day care for the day or two.  Everyone will be able to focus and get the move done.

5. Ensure there is Parking for the Truck and if Needed Elevator Pre-Booked
When the truck or van arrives at the new place it will need a spot to park in and unload.  If a house chances are you can pull up right out front.  However Toronto has some narrow street and many one-way streets.  Snow banks also reduce the amount of parking.  If you are moving to an apartment or condo building, you may need to set up appropriate parking before hand and many new condos require deposits and pre-booking of the elevator.  The building manager can answer these questions.

6. BREATHE
If you do find yourself getting tense or stressed out, take a moment and just breathe.  It will immediately ground you and bring you back to the moment ensuring you keep your cool!

Heather Rovet is a Sales Representative with Royal LePage/Johnston & Daniel Division and she is a regular contributor to the Muddy York Blog.  Heather’s website can be found at www.heatherrovet.com.

Home Renovations 101

By Myles Slocombe

Whether you’re in the midst of a reno, considering doing some home improvements yourself, or planning on hiring professionals, it goes without saying it’s important to know some of the terminology used to help ensure a clear understanding on all sides when communicating and building your vision. Renovations can be a complicated matter, and the language can seem so sometimes as well. Here’s some basic reno lingo to help you along the way:

Apron: the trim below a window sill or table top.

Batt: a section of fibreglass or rock-wool insulation.

Beam: the main, load-bearing horizontal supports for everything from decks to houses.

Bearing Wall: a structural wall that supports the load above it (such as a roof or floor system).

Brown Coat: coat of stucco that’s troweled over the primary or scratch coat. Its primary purpose is to provide a smooth surface for the finish coat.

Cantilever: a beam or beams that projects beyond its support.

Casing: the frame which surrounds a door.

Caulking: a seal for seams and joints against weather and insects. Caulking can also be used to fill gaps before painting.

Centre Bearing Wall: a structural wall that is normally built along the centre of a building. It supports the weight of the above floor system.

Chase: to allow for pipes and ducts, a chase is a grove cut into a wall or floor.

Corner Bead: used to protect the corners of external plastered walls, a corner bead is a strip of metal or wood.

Cornice: horizontal trim where the roof and wall meet. A cornice is strictly decorative and made of stucco, plastic, metal or wood.

Crown Molding: trim placed over the corner formed where the wall meets the ceiling.

Drywall: used for interior walls, drywall is made of plasterboard or gypsum board and used in place of wet plaster.

Finish Coat: the third and final coat of stucco. The finish coat may or may not contain pigment. If it doesn’t, it will need to be painted. The term if also used generically for any final coat placed on a surface.

Floor Trusses: unlike joists, floor trusses allow heating, plumbing and electrical material to run inside them rather than below. Trusses are generally deeper and more expensive then joists.

Footing: sits on soil and is the base for the structure and supports all of its weight.

Foundation: usually made of block, concrete or treated lumber, the foundation sits on the footing and supports the floor system.

Grade Beam: unlike a footing, a grade beam is supported by columns underneath it rather than sit directly on the soil.

Header: horizontal pieces (usually two nailed together) laid on their edge to provide support over a window or door.

Joist: parallel lumber that constitutes the bulk of the framing for a floor or ceiling.

Load-Bearing Wall: a support wall capable of bearing weight.

Moisture Barrier: treated paper that is used to keep moisture from seeping into floors or walls.

Molding: decorative strip often used to mask gaps where walls meet.

Mortar: mixture of cement, sand and water that is used to bond bricks together.

Non-Bearing Wall: a wall that is used to section off rooms or for privacy and does not support any load above it.

Plan: usually provided by an architect, a plan is a series of diagrams that depict a particular project from different views. There are five main views.

1. A floor plan gives you a bird’s eye view assuming the roof has been taken off. It shows walls and fixtures such as stairs and doorways. The floor plan may also give you dimensions.

2. A section view is basically a dissection of the building. If you imagine a home sliced in half vertically so that you can see what’s inside, you have a section view.

3. A detail view is a blow-up of a particular part of a section view and gives a better idea of how pieces fit. If you’ve ever assembled furniture using instructions, the detail view shows you what screw to use and how to insert it.

4. A plot plan shows the structure and the entire lot that surrounds it.

5. The elevation view is just that: the building from the outside at eye-level.

Plaster: made from concrete, water and sand.

Plate: a support structure used to hold studs in place.

Plywood: is made up of an odd-number of layers (each layer is called a “ply”) that are glued together.

Post-And-Beam Construction: foundation or wall that are constructed from posts and beams rather than smaller studs. To keep the posts vertical, diagonal supports are used.

Pressure-Treated Lumber: chemically treated wood to make it more moisture resistant.

Rough-In: construction done for any electrical/plumbing work needed. Rough-ins are hidden by a wall, floor or ceiling.

Scratch Coat: the first coat applied when applying stucco and adheres to a mesh covering placed on an outside wall. It’s followed by a brown coat and then the finish coat.

Shingles: overlapping outer covering of roofs or an external wall.

Sill: the boards at the base of a window or door opening.

Struts: beam or piece of wood used to keep two others apart at equal distance; thereby giving them more strength.

Stucco: an exterior finish that is hard and concrete-like.

Studs: vertical beams placed 16 or 24 inches apart to which horizontal pieces are nailed. Studs give strength to the wall and provide a solid background for nailing in other pieces.

Vapour Barrier: waterproof material that blocks the transfer of moisture in a wall, floor or ceiling.

Veneer: thin sheets of wood applied to the surface of furniture

Tongue-And-Groove: type of joint or edge where one piece has a long “tongue” that fits in the “groove” of an adjoining piece. Its main purpose is for strength.

Wainscoting: decorative wood panelling that only covers the lower section or a wall.

Weep Holes: small holes that allow water to drain to the outside of a foundation wall.

Myles Slocombe is a Sales Representative with Royal LePage R.E.S./Johnston & Daniel Division. Myles is also a regular contributor to the Muddy York Blog.  Myles’ web site is located at www.keystoneconnect.ca