Vol. 25, Issue 2, March 2017
It’s March Break time! Have FUN! Life is meant to enjoy! What a funny weird winter we have experienced. Not the kind of nearly snowless winter that I personally prefer - snow is so much better for the plants, skiing and snowshoeing! This year in February we actually had some plants peeking through the earth. I suppose it is better than an ice storm and such though - ! I wrote too soon! Apparently a big winter storm is approaching Toronto!
The big talk of the town these days continues to be the immense selling prices on some of the properties sold recently. City of Toronto is definitely setting new records… AGAIN. It sounds a bit like a broken record saying that though, don’t you think? People have been wondering if it will continue for YEARS now. Seriously! If you know of anyone thinking of selling in the near future, NOW is a good time :) No one knows if this is a "bubble" or the new normal of prices. They are going for so much more than historical market values, it is very hard to predict. And it will be curious to see how the banks handle this next jump in prices. All that is obvious, and one of the drivers of the supply and demand is that anyone who bought last year has already made a lot of money.
Another supply and demand driver is that we don’t have a lot of options for downsizing singles and couples. If your kids have left “the nest” and you are looking to “cash out” of your big asset, and don’t want to leave the city what do you do? That is a question for many of our clients and one of the reasons why there are not enough listings out there. Where to move to in Toronto? There is a lot of action and prices driven up for condos for this reason - and for smaller 1st time buyer style home. It’s quite fascinating to tell you the truth. One good tip would be for downsizers to consider living in a multi unit home, and rent out the rest. It is more maintenance than some want to do, but freehold is always a good investment. We can help you discover your best opportunity.
One of my questions for the future of our market: Are we the world class city financially that our prices seem to indicate? Part of the hot market is that we haven’t had much of a winter, so it has actually felt more like March for a while now instead of the deep freeze and home bound lifestyle of a typical of Jan/Feb. This has been a trend for the past couple of years. Check out the stats though in the Market Watch Report - Sales up by 5.7% and listings down by 12.5%!
Our team is working overtime trying to help our buyers navigate the whole process and be successful in the multiple offers. One of our team’s strengths is helping you understand all the ramifications and help you handle issues that come up, like bank appraisals for example. No, all realtors are not the same, so if you have any friends or family, looking to get in before the market goes up AGAIN, we will help you make the best decision for that particular situation. The JKT is also helping our sellers navigate the same treacherous waters. When you are in this market, we are working together and making ALOT of decisions. There are key strategies to employ and hire us to guide you through to a successful result.
On a personal note - Mary & I were fortunate to experience Palm Springs, California for our first time.
We loved the active lifestyle - hike/exercise in the morning and pool time in the afternoon and of course the beautiful mountains and dry climate (warm days, cool nights). We hiked the canyons, trekked through Joshua Tree National Park, and Mary golfed. A highlight of our trip was reaching the Grand Canyon South Rim and hiking down parts. WOW. MUST see! Bucket list item!
Part of the plan around that location was heading to Vegas for the annual Keller Williams National Conference - called Family Reunion. Tyler and I enjoyed a lot of amazing speakers and learning. We received our awards - another banner year for the JKT, ranked 6th Nationally for teams with more than 2 agents. Thank you for all of you who continue to trust and support us.
Tyler has enjoyed Jamaica for a week of fun in the sun, and Jen was off in Costa Rica for a couple of weeks on a cool bike trip. Claire and Holly have been focussed more in Toronto and all it has to offer!
P.S. If you haven’t seen the awesome new video to attract tourism to Toronto check it out here:
guiding you home™
Quote of the day:
- JKT friends & client Jennifer Tassie and Julie Carter opened a helpful new business in the past year called Home In Transition - They are helping people transition into new spaces. "We declutter & downsize, prepare for a move or simply re-work your home to improve functionality and quality of life. Whether moving, downsizing or decluttering - facing the beast alone can be a daunting task. Home In Transition provides the guidance, resources and brute force to accomplish what may seem impossible. Our goal is to create a new environment that reflects who you are and lose the clutter and noise. 416-465-3913
- Thank you to Ashley Diaczyk for your help organizing our GRAND PRIZE for the Krazy Kontest this month. Enter today to win a catered dinner at your own home - chef and food from Yorkshire Pudding.
- Maria Mourtzis is excited about the launch of her new business venture - Project Coordinator for Pinnacle General Contracting. Offering a wide variety of services from painting, drywall, flooring, tiling, power washing & line painting etc. for both residential and commercial properties. Whatever scope of work you are looking for Maria’s experience in property management will help you get the job done whether big or small. Phone: 416-574-6280 or email:
- Kim and Adrian Andrews are over the moon about their bundle of joy Jack Richard Andrew, born on January 17th, 2017 weighing 3.5kgs and 51cm long. Our lovely friends/international clients are in Perth Australia - hence the kgs!! Welcome Jack!
Sales Up and Listings Down in February
March 3, 2017 - Toronto Real Estate Board President Larry Cerqua announced that GTA REALTORS® reported through TREB's MLS® System in February 2017 a 5.7% increase year-over-year despite the fact that February 2016 had one more day due to the leap year day.
"The February statistics tell me that many Greater Toronto Area households continue to view home ownership as a great long-term investment. The high demand for ownership housing we're seeing is broad-based, with strong sales growth for most low-rise home types and condominium apartments. This makes sense given the results of a recent consumer survey undertaken for TREB by Ipsos, which found an even split between intending first-time buyers and existing homeowners who indicated that they were planning on purchasing a home in 2017," said Cerqua.
While the demand for ownership housing grew over the past year, new listings entered into TREB's MLS® System in February were down on a year-over-year basis by 12.5%.
The MLS® HPI Composite Benchmark Price was up by 23.8% compared to February 2016. Similarly, the average selling price was up by 27.7% year-over-year to $875,983. Annual rates of price growth continued to be strongest for low-rise home types, particularly detached houses. Growth rates for condominium apartment prices were also in the double digits, likely a result of strong demand from first-time buyers.
"The listing supply crunch we are experiencing in the GTA has undoubtedly led to the double digit home price increases we are now experiencing on a sustained basis, both in the low-rise and high-rise market segments. Until we see a marked increase in the number of homes available for sale, expect very strong annual rates of price growth to continue," said Jason Mercer, TREB's Director of Market Analysis.
Many of our clients have had their personal experiences with The JKT caught on video instead of the regular written word – they're even posted on YouTube! We so appreciate your kind testimonials. Our YouTube channel is growing exponentially and JUST HIT over 320,990 views!
Feeling like Giving Back?
Habitat for Humanity Indigenous Housing Program
Habitat Canada's Indigenous Housing Program partners with Indigenous families and communities to create a safe and decent place to live through affordable homeownership. They also provide skills and training opportunities to Indigenous youth and women to equip them with trade skills they use to maintain and/or create new homes in their communities. With the help of 24 local Habitats across Canada, they have built over 150 Indigenous family homes between 2007 and 2015, including 35 homes on First Nations and Métis settlements and reserves.
By 2020, their goal is to partner with more than 250 Indigenous families under the Indigenous Housing Program and annually provide 200 Indigenous youth and women with skills training opportunities.
To Donate go to: www.habitat.ca/aboriginal-housing-program
The JKT Recipe of the Month
Holly’s Red Cabbage Soup (Simple, cheap and satisfying)
Things You'll Need:
- Large cooking pot
- 2 tbsp. butter
- 1 large onion –finely chopped
- 1 red apple – peeled, cored and chopped
- 1 chopped green pepper – deseeded and ribs removed
- 1 head red cabbage - shredded–core removed
- 2 red tomatoes (or canned plum tomatoes)
- 4 cups vegetable broth
- 1 tbsp. soy sauce or tamari
- 2 tbsp. tomato paste
- 1 tsp. salt
- 1 tsp. ground black pepper
- Melt the butter, onion, apple and the green pepper and cook until soft.
- Add the cabbage and cook until caramelized
- Add the tomato (I've used canned plum tomatoes instead of fresh and it's just as good – Utopia brand is the best – I think it's safe to omit the tomato paste in this case)
- Add the soy sauce, tomato paste, and vegetable broth to the pot. Cook for 20 mins over high heat
- Use a food processor or blender and blend until smooth.
Season with salt and pepper to taste.
For a garnish, try toasted pumpkin seeds, green onion, shredded carrots, croutons etc.
The Julie Kinnear Team's GEMs
(Genuine Evidence of Merit)
We liked what we saw on your website. No one else seemed to be doing what you guys do.
Pat & Alan
What they got! More of our happy buyers!
A continuing column of the Julie Kinnear Team's sales...
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.
Courtesy of Carrie Davidson
Dominion Lending Centres Service First Mortgages
#12089 License #M08003121
www.carriedavidson.com | Phone: 416-693-6946 |
The JKT – A few of our Favourite things:
The Grand Canyon - it looks almost surreal, like a painting. And the weather was cold and snowy, in the high desert after travelling from the low desert of Palm Springs (Along Historical Route 66).
Joshua Tree National Park - totally different feel than other hikes - it features these oversized boulders and rock formations and has a very zen, almost sacred ground feel.