Vol. 20, Issue 4, July 2012
JULIE' S SCOOP
Heat wave after heat wave! Wow! Thank goodness we're not under a water alert yet, so we can continue to water our gardens a little! I know for certain our cat Scout who is a Cornish Rex with very short hair LOVES it.
Mary & I had a nice little extra long weekend in Washington a few weeks back – and what amazing sites & restaurants to experience. Feels like real history is celebrated there. They were in the midst of a huge heat wave too! We were awed by the soldiers marching protecting the Tomb of the Unknown Soldier.
Mary and I are taking time this summer to re-energize and focus on a little balance in our lives – health, family, and getting a little nature injection at the cottage and visiting Vancouver. I know Jen has some time booked up at her Hacienda, and riding up in Caledon. Holly is renovating her new home, has her family coming to visit and is looking forward to a friends wedding. Steph gets away to her family cottage on most weekend and loves it with the dogs there. Claire has many plans with her family this summer and special events for Addison. Tyler is most excited about finally moving into his new home that he bought with his partner Ashley this spring.
This is also the time that our team takes to continue to improve our systems, continue to learn and grow and be the best we can be in the business and serve our clients with the latest information and technology.
The market continues well here in the core of Toronto, although we had such a strong super hot early spring market, it made June a little more even keeled than years with a cold harsh winter. There was a noticeable dip coming from the downtown condo market. This means it is a great opportunity for buyers to check out the numerous options. The interest rates are key to keeping it strong, which is in everyone's best interest.
Our team hosted our annual Blue Jays event in June to thank all our recent clients for their support and meet their friends and kids. Really fun night!
The JKT also volunteered for the 3rd time at the end of June on the Acme Crescent project of Habitat for Humanity – we are committed to donating our time once per quarter. The weather cooperated for us, and it was so exciting seeing the progress from when we first worked on them last year. The families are moving in this summer!! Woohoo! So many dedicated volunteers.
Happy Summer! Viva Espana!
QUOTE of the day:
"A life without love is like a year without summer"
- Greg Douglas will be representing Canada at the Olympics this summer as a member of the sailing team. What an accomplishment let's send all of our positive vibes & cheers to Greg representing Canada visit his website for the countdown www.gregdouglassailing.com
- Ann & Rich Kinch have been tirelessly working with Our Children Africa and raising funds to build a primary school in Ghana, West Africa. Ann created a very special learning program please visit her site http://everychildspath.com. Every Child's Path is a way to improve children's processing skills, with applications to early mathematics and literacy. Congratulations for such progress and dedicating yourselves to such a worthy cause.
- Petra Kozel has opened Crazy Cuts, a children's hair salon located at 669 Mt Pleasant Road. Kids can get their hair cut in one of their specialty chairs - Thomas the Tank, a fire engine (that lights up and has sound like a real fire truck), a Barbie car or they can get their hair cut while playing their favourite video game in one of our regular chairs. Each chair has its own TV. They also have eco-friendly products available such as certified organic Green Beaver products, Hot Tot organic hair styling products (first in Canada to carry these products), Piggy Paint and more. Come check us out and enjoy a bag of popcorn and a balloon.
- Carolyn Acker was made a member of the Order of Canada for her contributions to increasing access to education for thousands of disadvantaged students across the country. She is the founder of Pathways to Education. What a true accomplishment Carolyn we are so proud of you! Here is one of the articles where it was announced http://www.thestar.com/news/canada/article/1219695--the-gta-s-new-order-of-canada-appointees-speak
Babies! Sincere Congratulations!!
- Carol & Brian Kim welcome their bundle of joy Tyler born on May 11th, 2012 weighing in a healthy 7lbs 2oz.
- Allan & Christine MacDonald are thrilled to announce the arrival of Angus Allan born June 7th, 2012 at Sunnybrook Hospital weighing in a healthy 7lbs.
- Tim & Vanessa Peterson have welcomed their first baby Julian Paul born June 9th, 2012
- Andrew & Clare Burnell are the overjoyed parents and welcome Harrison James born June 10th, 2012. Charlie is enjoying his role of big brother.
MARKET WATCH excerpts from Toronto Real Estate Board
Strong Sales & Price Growth in May, Low-Rise Home Types Drive June Price Growth
The number of transactions was down by 5.4 per cent in comparison to June 2011. The year-over-year decline was largest in the City of Toronto, where sales were down by 13 per cent compared to June 2011. Sales in the rest of the Toronto Real Estate Board (TREB) market area were comparable to a year ago.
In May, there was an 11 per cent increase over the sales in May 2011. Sales growth was strongest in the '905' regions surrounding the City of Toronto across all major home types. Lower average prices are certainly one factor that has contributed to this trend.
"Buyers continue to face the substantial upfront cost associated with the City of Toronto's unfair Land Transfer Tax," said TREB President Ann Hannah. "Recent polling by TREB suggests that many households are considering home purchases outside of the City of Toronto to avoid paying the Land Transfer Tax. This goes a long way in explaining the disproportionate decline in sales in the City versus surrounding regions."
The average selling price in June was $508,622 – up by 7.3 per cent compared to June 2011. The mortgage payment associated with the average priced home in June, assuming 5 per cent down and a 5-year fixed rate mortgage amortized over 25 years, would account for approximately 35 per cent of the average household's income in the GTA after adding property tax and utility payments.
"According to new mortgage lending guidelines set out by Finance Minister Jim Flaherty, the GTA housing market remains affordable. The share of the average household's income going toward major home ownership payments for the average priced home remains below the 39 per cent ceiling recently announced by Mr. Flaherty," said Jason Mercer, TREB's Senior Manager of Market Analysis.
"The average household in the GTA continues to benefit from a considerable amount of flexibility to account for higher interest rates moving forward," continued Mercer.
Feeling like Giving Back?
Charity of the Month – Pathways To Education
We are thrilled to support Pathways' innovative, community-based program that has been helping youth in low-income communities stay in school and graduate to post-secondary for more than ten years. Working in partnership with governments, social welfare agencies, and hundreds of diverse volunteers who share their talent and wisdom, Pathways is helping to break the cycle of poverty and enable strategic, long-term social change across Canada now.
To Donate Please Contact:
or call 416 646 0123
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 has had now over 98,521 hits! We're on the hunt for 100,000 hits!
What they got!
A continuing column of the Julie Kinnear Team's sales…
16 Hanley Street
16 Hanley Street – Bloor West Village
Asking Price: $589,000
Selling Price: $683,000
83 Coney Road
83 Coney Rd – Norseman
Asking Price: $589,000
Selling Price: $645,333
89 Lawrence Ave West
89 Lawrence Ave. - Lawrence Park
Asking Price: $589,000
Selling Price: $673,777
580 Coxwell Avenue
580 Coxwell Ave – Greenwood
Asking Price: $379,900
Selling Price: $440,580
468 Rhodes Avenue
468 Rhodes Ave – Greenwood/Coxwell
Asking Price: $399,900
Selling Price: $405,000
369 Sorauren Avenue
369 Sorauren Ave #207 – Roncesvalles
Asking Price: $339,000
Selling Price: $369,000
See a For Sale Sign/Sold you were wondering about? We are happy to let you know about houses in your neighbourhood - feel free to contact Steph at:
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!
Buyer Better Believe It!
Editorial by JKT member Jen Palacios
If you don't get a home inspection on a condo, what do you do?
When you buy a house, you typically have access to a recent home inspection by a professional, and sometimes you add a condition to the offer for a home inspection. But what if you're buying a condo? What then?
When you purchase a resale condo, you have the opportunity to make the offer conditional on your lawyer reviewing the Status Certificate and Attachments.
Status Certificate – what's that? The status certificate tells you the health and wealth of the building. It contains the condos budget and reserve fund amounts. The condo corporation is obligated to have a reserve fund study done every 3 years. This is to ensure that the building has enough funds for the daily expenses, as well as any emergency and future repairs. If there is going to be an increase in maintenance fees, or a one-time special assessment, the status certificate will give you the heads-up.
The status also contains a legal description of all properties owned including parking and locker if applicable with an up to date statement of the unit that you're purchasing, to indicate if there is any balance owing or issues arising. In addition, it contains the condo declaration, by-laws, insurance, management contract, rules, minutes of the last annual general meeting, and mention of any lawsuit involving the corporation.
The status certificate can be a lengthy and confusing document, so it's best to leave it to the lawyer's to interpret. Once the lawyer has reviewed everything, they will give a brief summary of all the important points, red flags, etc. and you can decide to remove your condition or not.
A status certificate is a very helpful type of rules/regs/financial inspection, and will be able to give you a lot of information on things a residential home inspector will not be able to. There is always the possibility to have an inspector come in to examine the property as well. It is not as common on high rises, especially newer ones, but certainly many buyers prefer to have an expert look at condo townhouses and older suites. There are inspectors who specialize in this area.
Next Topic: Location, location, location - is that what it's all about?
Mortgage rates – Courtesy of Carrie Davidson - Dominion Lending
CURRENT VARIABLE RATE IS 3.00%
CURRENT PRIME RATE IS 3.00%
Some conditions may apply. Rates subject to change without notice. *O.A.C. E. & O.E.
Centres Mortgage Connection Inc. www.carriedavidson.com
Phone: 416-693-6946 Fax: 416-693-4103
The Julie Kinnear Team's GEMs (Genuine Evidence of Merit)
We liked Julie's online offer to do a market assessment, which seemed broader than just giving an estimate on our house. When we met with her for that assessment we were really impressed with her pleasant, straight forward style and decided we didn't need to interview any other agents. Carol Hancock
The JKT – A few of our Favourite things:
- Potted flowers on the patio - in this heat they need to be watered a lot, but it's totally worth it. It just makes me smile to see the beautiful colours of the annuals on my back patio. I also planted Geraniums in my window box at the Hacienda. They are a hardy plant and can withstand the heat and dryness. Stop and smell the flowers!
- The Future Shop - I just purchased a Bosch dishwasher on sale on Friday. The sales people were very helpful and not pushy. They delivered it today - and they were here when they said they'd be here. Once it's installed and I've used it, maybe Bosch dishwashers will be my favourite thing next newsletter!
- IFAW's Northern Dog Project - on our trip in June, we went to 3 different James Bay Cree communities. The vet team spay/neutered 104 dogs/cats, and 225 were vaccinated. The vets were averaging about 20 surgeries a day set-up in firehalls, bungalow kitchens, and storage trailers - that's pretty impressive!!
- Sushi 67 in Roncesvalles – 67 Roncesvalles is one of my favourite places for quick take-out! Really friendly and efficient service with an authentically Japanese atmosphere. The sashimi, sushi and salads are little bundles of perfection.
- Facials by Janina at Janina's Esthetics 2212 Bloor St West. Janina gives the most thorough facial in town. Best part is that she is so genuinely welcoming, friendly and has a great sense of humour.
- Gurts Frozen Yogurt - 283 Roncesvalles - Serve yourself frozen yogurt bar. The owners are young, cool and extremely friendly! The keylime yogurt with some blueberries and aero bubbles has become an addiction.
- My 7th Annual Girls and Gays weekend on Riley Lake, Washago! Way too much food, way too much wine and laughs until your belly hurts, BEST WEEKEND EVER!!!!
- The end of the school year! I love not waking up to the morning rush & routine! The traffic is lighter; you can actually get a seat on the subway and who's kidding who that extra little sleep in time is my very favourite thing.
- Taboo Resort in Muskoka! The perfect little weekend retreat not too far from the city. The food is amazing the rooms are gorgeous and there's lot of things to do for everyone.
- My first experience with Habitat for Humanity – I really enjoyed getting my hands dirty and experiencing what it's like to build houses rather than sell them. I have the utmost respect for people in that industry. It's a great cause and everyone should try it!
- Reddit.com – This website is basically the hub of the internet! It's a forum where people can post pictures, stories, jokes, ask for help or just share their interests in any of hundreds of categories from Science to Home Improvement to Cat photos! It's addictive!
- Tour De France – July is a bit of heaven for me – 3 weeks, day after day, of the best cycling in the world – as they say these athletes are Gladiators. Special shout out to Ryder Hesjedel, the lone Canadian rider who won the Giro D'Italia which is an incredible feat! Unfortunately Ryder got injured in this year's tour – hopefully he'll be back for the Olympics!
- Song of the summer on our boat! Every year we pick a song to play every time we get in the boat and put a smile on everyone's faces! This year we're groovin' to "When We Were Young" by Fun.