St Clair Artwalk and Studio Tour takes place all around the St Clair Ave W area. This is year 5. Artwalk features local area residents showcasing their art, music and literary talents.
Be sure to take in the Jazz concert on September 25th at St. Mathews Church, 611 St Clair Ave W. starting at 7:00 pm. You can get tickets at ticketweb.ca or at Ellington's cafe.
Artists will open their studios from 11 am to 4 pm on Saturday and Sunday.
There is an out door art market at the corner of Wychwood Ave and St Clair W. with 25+ artisits are displaying.
St Matthews United Church (on the south side) at 729 St Clair W will host the emerging artists.
St Michaels & All Angels Church (on the south side at Wychwood) at 611 St Clair Ave W. will be home to the outdoor main stage with great sounds of entertainment.
Business along St Clair West will become art galleries showcasing many community artisits.
Please visit Diane Plant's exhibit at 635 St Clair Ave W in the Maple Paints Store. I will be featuring my art "Mini Chairs on Canvas." This is a collection of whimsical, brightly painted mini chairs on canvas arranged in contemporary abstract designs.
Sunday, September 14, 2008
Saturday, September 13, 2008
Toronto Residential Real Estate - Do We Always Expect Multiple Offers?
Do homebuyers and sellers in the Toronto real estate market believe that real estate negotiations are all about multiple offers? It appears that way when I talk to clients. This, however, is not the real world of real estate negotiating. The historical way of trying to make a purchase or sale is by calm discussion between both parties to agree upon a price that is satisfactory to both.
The Toronto market, since the middle of the late 90's took a great upward turn, gathering momentum yearly and almost every home in the central core had a delayed offer date, creating a frenetic market for the sellers and buyers. Few homes had a transaction with only one offer.
When I speak with buyers now, they want to wait to make a purchase because they feel that prices are going down. They do not feel this pent up anxiety to have to make a purchase immediately because the market is too calm for them, something they are not used to. Many buyers today have had only one experience in making an offer, that of bidding on a home that has tough competition, boosting the price way over asking. This left one extremely happy seller, only one happy buyer and many who were disappointed.
This is a great time to make a purchase. Interest rates remain low and stable. You can get a home inspection in a timely manner and make a knowledgeable decision based on excellent information. Negotiations between the seller and buyer are more in tune with a conventional market and purchasing a home now is usually at or below the asking price.
Last year properties were under priced to attract enormous competition. The right asking price for a property is critical this year because most houses are no longer attracting multiple offers. Sellers are advised to list at a price they would be willing to accept or use a realistic starting point for negotiations with a prospective buyer.
The Toronto real estate market is still healthy. Buyers and sellers must not get the impression that we are suffering the same market conditions as our neighbours south of the border. One thing we can say for our Government - we don't allow a zero percent down payment. The federal government has announced reforms aimed at avoiding a U.S. style housing price bubble. Starting Oct. 15, the Finance Department will stop guaranteeing 40-year mortgages and mortgage loans with no down payment. Unconventional mortgages under 20% down are insured through CMHC (Central Mortgage and Housing) and all buyers must qualify for a mortgage based on their income and debt ratio (unless using private financing).
Maureen O'Neill of the Toronto Real Estate Board says "The Toronto Real estate market has experienced a slow down in actual numbers of 7,806 sales of single-family dwellings sold from that of July 2007 figure of 8,912 but the sales were up 10 per cent from July 2006 (7,082).
Furthermore, the sales decrease in July 2008 from July of 2007 was distributed unevenly across the GTA. Within the City of Toronto, the 3,132 sales recorded in July 2008 is down 14 per cent from last July's 3,640 figure but up 10 per cent from the 2,852 sales recorded in July 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
Overall, the GTA average price rose just over one per cent in July 2008 over July 2007 to $371,427 from $366,012, and a nine per cent increase from $342,034 recorded during July 2006.
Once again, price movements differed depending on the part of the GTA involved.
Within City of Toronto boundaries, the increase was marginal (under one per cent) to $395,342 in July 2008 from $395,044 in July 2007 and up 10 per cent from the $360,409 recorded during July 2006".
The Toronto real estate market is strong and now is a great time to buy.
Diane Plant is a Broker with Forest Hill Real Estate, serving the Greater Toronto Area since 1988. She is in partnership with her son, Jeremy Plant, forming Team Plant. Get FREE membership to Team Plant's Preferred Buyer's Club by visiting our website http://www.team-plant.com and click on Buyers.
I invite all comments at diane@team-plant.com
The Toronto market, since the middle of the late 90's took a great upward turn, gathering momentum yearly and almost every home in the central core had a delayed offer date, creating a frenetic market for the sellers and buyers. Few homes had a transaction with only one offer.
When I speak with buyers now, they want to wait to make a purchase because they feel that prices are going down. They do not feel this pent up anxiety to have to make a purchase immediately because the market is too calm for them, something they are not used to. Many buyers today have had only one experience in making an offer, that of bidding on a home that has tough competition, boosting the price way over asking. This left one extremely happy seller, only one happy buyer and many who were disappointed.
This is a great time to make a purchase. Interest rates remain low and stable. You can get a home inspection in a timely manner and make a knowledgeable decision based on excellent information. Negotiations between the seller and buyer are more in tune with a conventional market and purchasing a home now is usually at or below the asking price.
Last year properties were under priced to attract enormous competition. The right asking price for a property is critical this year because most houses are no longer attracting multiple offers. Sellers are advised to list at a price they would be willing to accept or use a realistic starting point for negotiations with a prospective buyer.
The Toronto real estate market is still healthy. Buyers and sellers must not get the impression that we are suffering the same market conditions as our neighbours south of the border. One thing we can say for our Government - we don't allow a zero percent down payment. The federal government has announced reforms aimed at avoiding a U.S. style housing price bubble. Starting Oct. 15, the Finance Department will stop guaranteeing 40-year mortgages and mortgage loans with no down payment. Unconventional mortgages under 20% down are insured through CMHC (Central Mortgage and Housing) and all buyers must qualify for a mortgage based on their income and debt ratio (unless using private financing).
Maureen O'Neill of the Toronto Real Estate Board says "The Toronto Real estate market has experienced a slow down in actual numbers of 7,806 sales of single-family dwellings sold from that of July 2007 figure of 8,912 but the sales were up 10 per cent from July 2006 (7,082).
Furthermore, the sales decrease in July 2008 from July of 2007 was distributed unevenly across the GTA. Within the City of Toronto, the 3,132 sales recorded in July 2008 is down 14 per cent from last July's 3,640 figure but up 10 per cent from the 2,852 sales recorded in July 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
Overall, the GTA average price rose just over one per cent in July 2008 over July 2007 to $371,427 from $366,012, and a nine per cent increase from $342,034 recorded during July 2006.
Once again, price movements differed depending on the part of the GTA involved.
Within City of Toronto boundaries, the increase was marginal (under one per cent) to $395,342 in July 2008 from $395,044 in July 2007 and up 10 per cent from the $360,409 recorded during July 2006".
The Toronto real estate market is strong and now is a great time to buy.
Diane Plant is a Broker with Forest Hill Real Estate, serving the Greater Toronto Area since 1988. She is in partnership with her son, Jeremy Plant, forming Team Plant. Get FREE membership to Team Plant's Preferred Buyer's Club by visiting our website http://www.team-plant.com and click on Buyers.
I invite all comments at diane@team-plant.com
Toronto Residential Sales for August 2008
GTA Resale Housing Remains Steady Throughout Summer Months
September 4, 2008 -- The Greater Toronto resale housing market closed out the last full month of summer at a steady pace, Toronto Real Estate Board President Maureen O’Neill reported today.
The Greater Toronto Area (GTA) average price increased one per cent, to $364,886 when compared to last August’s figure of $361,890. Compared to the $338,192 figure recorded two years ago though, the average GTA has increased eight per cent.
In the City of Toronto the average price declined one per cent to $377,990 from last August’s $381,681. Compared to the August 2006 figure of $344,419 however, the average price in the City of Toronto has increased 10 per cent.
In the 905 Region the average price increased two per cent to $356,657 from last August’s $348,563. Compared to the August 2006 figure of $334,245 the average price in the 905 Region has increased seven per cent.
“These healthy figures substantiate that when undertaken as a long term investment, buying a home is one of the smartest financial moves you can make,” said Ms. O’Neill.
With 6,318 transactions recorded last month, sales in the GTA declined 22 per cent compared to the record August 2007 figure of 8,059. Volumes were off just nine per cent however, from the 6,976 sales recorded in August 2006.
In the City of Toronto, there were 2,437 sales in August, a 25 per cent decline from the 3,243 transactions recorded a year ago.
Compared to the 2,706 sales recorded in August 2006 though, this represents a 10 per cent decline. Sales increased 20 per cent between August 2006 and August 2007
September 4, 2008 -- The Greater Toronto resale housing market closed out the last full month of summer at a steady pace, Toronto Real Estate Board President Maureen O’Neill reported today.
The Greater Toronto Area (GTA) average price increased one per cent, to $364,886 when compared to last August’s figure of $361,890. Compared to the $338,192 figure recorded two years ago though, the average GTA has increased eight per cent.
In the City of Toronto the average price declined one per cent to $377,990 from last August’s $381,681. Compared to the August 2006 figure of $344,419 however, the average price in the City of Toronto has increased 10 per cent.
In the 905 Region the average price increased two per cent to $356,657 from last August’s $348,563. Compared to the August 2006 figure of $334,245 the average price in the 905 Region has increased seven per cent.
“These healthy figures substantiate that when undertaken as a long term investment, buying a home is one of the smartest financial moves you can make,” said Ms. O’Neill.
With 6,318 transactions recorded last month, sales in the GTA declined 22 per cent compared to the record August 2007 figure of 8,059. Volumes were off just nine per cent however, from the 6,976 sales recorded in August 2006.
In the City of Toronto, there were 2,437 sales in August, a 25 per cent decline from the 3,243 transactions recorded a year ago.
Compared to the 2,706 sales recorded in August 2006 though, this represents a 10 per cent decline. Sales increased 20 per cent between August 2006 and August 2007
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