Toronto Real Estate Newsletter January 2019

Meditation for the New Year - Get Your Kids at Play sign - Toronto Homes Price Changes 2018 vs. 2017 - Perks of Having a Nexus Pass

Vol. 27, Issue 1, January 2019

Julie's Scoop

Happy New Year! Hope 2019 brings you much joy and serenity and all kinds of happy adventures!

How wonderful it is to wipe the slate clean, feel refreshed and ready to tackle all of our own exciting plans and goals. Personally, I have learned a few things from places like Headspace, which I am a huge fan of (meditation app just in case you weren't sure!):

One idea is to take time to just be. It is admirable to work on projects and improve our lives and selves, yet sometimes we need to take time out to be present in the moment, and who / how we are is just perfect right here and now.

Another idea is that when you reflect on the past year, or months or trips and experiences in your life, one thing all these memories have in common is that they all started in your mind. Take the time to think about what you want and start the planning process. All trips you have taken, parties and weddings planned, teams you have played on, or courses you have completed or presents you have bought, homes or rental properties you have invested in all started with an idea in your head. What an exciting and easy first step! Start visualizing today!

Our JKTeam has been busy planning for this year, and yes we have all kinds of stimulating strategies that we plan to implement. We have started the year off with our new Kids At Play neighbourhood signs to remind drivers to Slow Down! If you are interested in having one in your yard, please let us know. We are happy to deliver and we will all be helping to protect our fabulous Toronto neighbourhoods.

Our website and social media guru team met with us in Toronto, to plan 2019, and we put together even more ways to reach a wider audience for our sellers and stay focussed on our mission to guide and protect the families we work with through their real estate purchases and sales.


Team planning event with our online marketing guru

The JKT had lots of fun with a bunch of clients who pitched in too, volunteering at the Daily Bread Food Bank in December helping prepare for their annual Christmas event.

I personally had wonderful 50th birthday celebrations in late November with many friends and family. My Mom & Jay came from Vancouver and my 3.5 year old nephew, Constantin came with my brother and his partner Lucia, from Kittsee, Austria, which made it that much more festive!


Julie with her nephew Constantin

The real estate market ended on a strong note. We had buyer clients finding themselves in bidding wars right up the end of the year. As you will see from the Market Watch section, it is hard to use the overall statistics as a benchmark, as each special pocket of Toronto is unique and has its own micro-economy of supply and demand. The condo market had the biggest gain this year, and the smaller/lesser priced homes experienced the largest price increases.

I was very happy to see that the Bank of Canada maintained its overnight rate again of 1.75%. This will benefit borrowers which in turn aids people selling homes. In the grand scheme, interest rates are still very reasonable and much lower than historical trends. The stress test is not the actual interest rate, and the discounted rates out there from quality mortgage brokers demonstrates that you can lock into a a low long term mortgage rate. The stress test has certainly put some buyers who were on cusp on the sidelines for the time being, yet many homeowners have plenty of equity in their properties to be able to move up or down if desired.

guiding you home,
Julie

P.S. Email us today for your own Kids At Play neighbourhood signs to remind drivers to Slow Down on your street!

QUOTE OF THE DAY:

Chit Chat....

Our talented clients Tony Coleman & Margaret Meagher are pleased to announce the premiere of their new documentary, MINIATURE. MINIATURE is an international road trip into tiny worlds. Premiere is at the HOT DOCS CINEMA in Toronto, Sunday Feb 3 at 2:00 pm.

Thank you to our wise & astute friend/client Stuart Hatcher & his wife Stef who recently went through a major renovation/addition on their home in Davisville and wanted to share some financial rebates of benefit that you may qualify for too:

  1. Application for refund of property tax: If a client moves out of their primary residence for more than three months, they can apply for a refund on some of their property taxes paid during this period. There is a very clear deadline for making this application. It is end of February for the year following the tax year i.e. Feb 28, 2018 deadline, for refund of taxes paid in 2017.
  2. Rebates for basement flooding prevention: These include installation of back flow valve, and sump pump. Total is up to $3,400. Deadline is within one year of date of installation of sump pump and backflow valve.

Babies...

Joe & Bronwen Keyes Bevan are happy and proud new parents to Leo born on December 18th, 2018 weighing 7lbs. 5ozs. Congrats to you all and Grandma Trisha!

Market Watch - December and 2018 Annual Statistics Released

January 4, 2019 - Toronto Real Estate Board President Garry Bhaura announced that GTA REALTORS® reported a total of 77,426 residential transactions through TREB's MLS® System in 2018. This result represented a 16.1% decline compared to 92,263 sales reported in 2017. Total new listings entered into TREB's MLS® System were down by 12.7% over the same period to 155,823.

The overall average selling price for 2018 transactions, at $787,300, was down by 4.3% year-over-year for all home types combined across the TREB market area.

Home prices were up very slightly in the City of Toronto and down in the surrounding GTA regions. This dichotomy reflects the fact that the condominium apartment segment, which accounted for a large proportion of sales in the City of Toronto, performed better from a pricing perspective than the detached market segment. The average price for condominium apartment sales across the TREB market area was up by 7.8% year-over-year.

"Higher borrowing costs coupled with the new mortgage stress test certainly prompted some households to temporarily move to the sidelines to reassess their housing options. With this said, it is important to note that market conditions were improved in the second half of the year, both from a sales and pricing standpoint," said Garry Bhaura.

"After spiking in 2017, new listings receded markedly in 2018. In many neighbourhoods, despite fewer sales from a historic perspective, some buyers still struggled to find a home meeting their needs. The result was a resumption of a moderate year-over-year pace of home price growth in the second half of the year. Price growth was strongest for less expensive home types, as many home buyers sought more affordable home ownership options," said Jason Mercer, TREB's Director of Market Analysis and Service Channels.

Feeling like giving back? THE REDWOOD SHELTER

The JKT has been a big fan of the Redwood Shelter for many years. The Redwood offers safety, healing and opportunities for growth for women and their children fleeing abuse. Families receive case management and counselling services from Resident Services Counselors, access to empowering and life-changing programs, and transitional support when they are ready to take the steps toward a new life. Free from fear. Free from threat. To donate visit: www.theredwood.com

The Julie Kinnear Team's GEMs (Genuine Evidence of Merit)

I would absolutely recommend Tyler to anyone looking to buy a house. He was always incredibly responsive, and gave detailed thoughtful answers to all of our questions. He is incredibly well informed about the market. Every house that we asked him to peg a price to - he would always give a window that was correct. He was incredibly thorough in visiting homes with us, pointing out details we would have otherwise missed. He never wasted our time with houses that were a stretch for our price range or dumps. He is measured and thoughtful and had incredible flexibility and patience, even with toddlers screaming at four house visits in a row. And definitely best of all, he helped us find a house that we are incredibly happy in, and expect to continue to be happy in for years to come.

Ryan

What They Got - More of our happy buyers & sellers!

A continuing column of the Julie Kinnear Team's sales...

34 Glendonwynne Road ~ Bloor West Village

List Price: $1,498,000

Sold Over Asking

66 Wallace Avenue ~ Wallace Emerson

List Price: $1,249,000

Sold Over Asking

19 Glengarry Avenue ~ North Toronto

List Price: $1,098,000

Sold Over Asking

37 Allanhurst Drive ~ Edenbridge/Humber Valley

List Price: $1,049,000

Sold Under Asking

30 Elsie Lane #104 ~ Junction Triangle

List Price: $699,000

Sold Over Asking

33 Mill Street #905 ~ Distillery District

List Price: $569,000

Sold Over Asking

Our Purpose

Our purpose is for you to be so outrageously happy with the service we provide that you gladly refer us to your friends and family before you've even bought or sold with us.


The JKT - A few of our Favourite Things:

Tyler

  • My Niece, Laila! – My niece turns 1 year old this month and I can't believe how fast she's growing. She even got her "two front teef" for Christmas! It was so cute seeing her having more fun tearing off the wrapping paper from her gifts than with anything she found inside. Oh, my heart!
     

Claire

  • My dog’s new Handmaid’s disguise – A perfect present to Teddy for Christmas from my sister. You never know when you will have to protect the ones you love from the insanity that is the world today.
     

Jen

  • Dyson V7 animal stick – It is so amazing!!! Incredibly light weight easy to use, empty and store on the wall. It has changed my life!

Holly

  • My Nexus pass – I used it for the first time when I went to Mexico in December. Not only is there a security check at Pearson specifically for Nexus pass holders (aka "Trusted Travellers"), there is also one at the airport in Cancun. When I returned to Toronto, there were only about 10 Nexus pass holders at Immigration and Customs. I probably saved myself around 3hrs of waiting in line and avoided a lot of stress because I had the pass.
  • "Green Porno" – A one-woman short video series written and directed by famed model and actress Isabella Rossellini who is also its star. It is soooo bizarre and funny, and very educational (catchy title too). It's a series about the sexual/mating behaviour of animals which first aired in 2008 on Sundance TV. I heard about it on CBC radio and found episodes on YouTube. I also checked out a subsequent series called "Mammas" which takes a hilarious look at animal parenting; a fitting follow-up to "Green Porno."
  • Poutine at Apiecalypse Now – I mentioned this Christie Pits vegan pizza place in a previous newsletter because of it's amazing pizza. I recently tried the vegan poutine when my brother was in town. We both agreed it was the best poutine we'd ever had. Poutine challenge anyone?
  • Fika – A cozy and friendly coffee shop in Kensington market with a Scandinavian aesthetic. The Swedish word Fika refers to the ritual of a coffee/tea break. I had a delightful cardamom latte with Minor Figures brand oatmilk (another favourite thing of mine) and a delicious house-made pastry.
     

Lisa T.

  • Bata Shoe Museum – Located on Bloor and near the St George station. A quick exhibit of shoes, modern and historical. There’s a few different exhibits including fashion and designer shoes and also shoes specific to Indigenous and Ancient cultures. Shoes from every era of the 20th Century.
  • Hazel’s Diner – Popular diner, 3 locations, Lawrence Village, Davisville Village and Yonge St. Affordable and reasonably priced comfort and diner food. It is busy and a smaller space so best to be prepared to show up early and a small wait in line at peak hours. I enjoyed their TPA Benny which is delicious.

Julie

  • Smart home devices for lights and plugs and thermostats – it is kinda fun going into a room and using a voice command instead of the old fashioned way to turn on a lamp (particularly awesome to use instead of that that awkward plug on a Christmas tree). Think of it as a useful safety measure when you’re not home, as well as a bonus to be able to turn up the heat up or down the heat if away to save energy. Of course you also won’t have to leave the animals in the dark if you get home late!

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