Vol. 20, Issue 6, November 2012
Happy Remembrance Day! As I write this it is a warm sunny spring like day compared to this quite cool, wet and grey Fall. Listening to country music patriotic tribute songs...!
Things are going well – our team is going full throttle with work, the Fall market is keeping us very busy and active, showing homes, listing/marketing properties, and helping clients prepare their homes for selling in 2013.
I am finding that the media negative articles about the condo market is adding more pressure to the situation, although we have had a number of clients successfully buy and sell recently. It is most definitely a good opportunity to buy as the downtown core especially is such an exceptional quality of life, the demand will return sooner rather than later, and by then buyers will be wishing they had jumped in when they had so many options to choose from! There does seem to be a divide between the freehold market, overall continuing with strong sales it is more obvious than ever that, buyers are quite savvy and choosy and unless the property is pretty much perfect – particularly with location, and very competitively priced, they pass it by.
Hope everyone had a fun Halloween! The 4th annual JKT Pumpkin Patch was a wonderful 'Wizard of Oz' success! Awesome team costumes (if I do say so myself), although the weather was a bit of a washout we had a tent set up to keep us sort of dry and ended up selling a number of pumpkins to the public and donated food and $153 to the Daily Bread Food Bank. Thanks to all who showed up to see us and get their free pumpkin!
As far as team news goes, our family Thanksgiving at the cottage this year meant amazing glorious colours – seemingly better than ever (do we say that every year?!). Holly's major house renovation is really coming together, lots of exciting progress! Tyler is finishing up his next level of his real estate licence exams. Claire is busy with Addison prepping for High School next year! Steph closed up her family cottage for the year, has been reading voraciously, and loving her loft and doggies who were so cute on Hallowe'en. Jen loved the Horse Show at the Royal, and is loving the Fall in Belfountain.
Enjoy a safe and fun holiday season!
Guiding you home,
P.S. Thank you so much for your continued support and referrals! We will take good care of your friends, family and colleagues!
QUOTE of the day: " You must be the change you wish to see in the world" Mahatma Gandhi
- Allison Green has created this awesome blog for her daughter at university who is living on her own for the first time – feel free to share! Its amazing and EASY recipes check it out http://itcouldntbeeasier.wordpress.com/
- Mary Wiseman's daughter Joanna was recently married in the beautiful city of Rio de Janeiro, Brazil. What a lovely destination! Mary added a short trip to Buenos Aires, Argentina, afterwards and had an uunforgettable experience!!! Grand-daughter Saoirse was the sweetest flower girl ever.
- Rob and Nancy Dunford celebrated their 20 year wedding anniversary Nov 7!
Babies – Sincere Congratulations! All Girls this time!! Wow!
- Brian Courtney & Elinore Dawson had their second bundle of joy daughter, Nadia, born May 22, 2012.
- Liz & Kelvin Au are thrilled about the birth of their daughter Quinn, on July 14th, 2012!
- Linsey Zekulin & Mark Zekulin – are ecstatic about their first child Charlotte born in Ottawa in September.
- Tess Van Thielen & Iain Anderson excitedly welcomed their daughter Gabrielle on Sept 2nd, 2012. A little sister for Ethan!
MARKET WATCH excerpts from Toronto Real Estate Board
Average Price Up in October, Despite Fewer Sales
November 3, 2012 - Greater Toronto Area REALTORS® reported a decrease of 7.1 per cent transactions compared to October 2011.
"Sales have decreased in the second half of this year compared to 2011, especially since the onset of stricter mortgage lending guidelines at the beginning of July. The prospect of higher monthly mortgage payments due to the reduced maximum amortization period has prompted some households to delay their home purchase," said Toronto Real Estate Board (TREB) President Ann Hannah.
The average selling price for October transactions was $503,479 – up 6.2 per cent compared to October 2011. The MLS® Home Price Index composite benchmark price, which allows for an apples-to-apples comparison in terms of home attributes, was up by 5.1 per cent.
"We continue to see price increases well above the rate of inflation. Active listings have remained low from a historic perspective, so substantial competition between buyers still exists, especially for low-rise homes," said Jason Mercer, TREB's Senior Manager of Market Analysis.
"It should be noted, however, that the annual rate of price increase has been edging lower over the past few months as the market has gradually become better supplied," continued Mercer.
Feeling like Giving Back?
Charity of the Month – CHUM Christmas Wish
Tis the season to give the kids a special Christmas! Even the smallest contribution can make a difference! Financial donations in the form of cash or cheques and toy donations in the form of new, unwrapped toys for newborns to kids 18 years of age are so appreciated!
- CP24 CHUM Christmas Wish HQ - 299 Queen Street West
- Most RBC Royal Bank branches in the GTA
- CP24 CHUM Christmas Wish Warehouse – 1366 Blundell Road, Mississauga
- Or Online http://www.ctv.ca/TheWish/Donations.aspx
All financial donations of $20.00 or more are eligible for an income tax receipt.
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 113,096!
What they got!
A continuing column of the Julie Kinnear Team's sales…
291 Bessborough - Leaside
Asking Price: $928,000
Selling Price: $903,000
2855 Bloor St W #207 - The Kingsway
Asking Price: $699,000
Selling Price: $674,000
100 Smithwood Drive - Etobicoke
Asking Price: $649,000
Selling Price: $636,000
384 Sunnyside #203 - High Park
Asking Price: $649,900
Selling Price: $635,000
77 Margueretta St - Brockton Village
Asking Price: $489,000
Selling Price: $576,000
319 Merton St #801 - Davisville
Asking Price: $349,000
Selling Price: $349,000
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!
Winter, Spring, Summer or Fall, all you have to do is call… your Real Estate professional!!
Editorial by JKT member Jen Palacios
Many people ask me what time of year is the best time to buy their new home. It's a great question!
Historically, the Toronto market is the busiest in the Spring months. Buyers are often anxious to find a home and settle in by the summer and/or before the new school year begins. The market used to really pick-up in April -June, but in the last few years, the market has started heating up as early as February.
As you can see by the graph below:
The market tends to be "a bit" quieter during the summer. People go away on vacation, cottage on weekends, and can be in 'holiday' mode. This can be a good time for buyers, as they may not be competing with so many other buyers, however, there are often not as many listings on the market.
The Fall is historically the second strongest time of year for real estate. As expected, December and January are the slowest months for Real Estate. The seasonal Holidays and cold weather effect the market and the buyer's moods.
When the market is hot, there are more listings so more choice for Buyers. The downside is there are also a lot of other Buyers out there looking as well. During the slower times, there are not as many listings, but there may not be as many people wanting the same property.
The Bottom line: there are pros and cons to each season for home buying – just keep looking and you'll find 'the one'!!
Mortgage rates – Courtesy of Carrie Davidson - Dominion Lending Centres
Mortgage Connection Inc. www.carriedavidson.com
Phone: 416-693-6946 Fax: 416-693-4103
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.
The Julie Kinnear Team's GEMs (Genuine Evidence of Merit)
"We were looking for someone who specialized in the Bloor West area and came across a YouTube video of Julie walking through a unit in a building we were interested in. We found her to be very "real" and after looking online at the site felt that this would be a good fit for us. We were happy to meet Tyler and immediately felt very comfortable with him. The whole process was enjoyable. Meeting Tyler was key! He was very informative, patient and available to show us properties. Amanda & Ben Blaber"
The JKT – A few of our Favourite things:
- Random Acts of Kindness! My purse recently got stolen and a few days after I was Facebooked by a woman that found part of my wallet in her bike basket, she contacted me and I got my driver's license back! 1 less government office line up to stand in so that made me happy.
- Classics Hockey Hall of Fame game at the ACC! We had a great time seeing Mats Sundin being inducted into the hall of fame and enjoyed a great game with some of the best players all for a good cause. It was a humorous game to watch and my son enjoyed watching a good old game of hockey eh! He has been quite sad with the strike the season.
- Pumpkins! - This time of year is one of my favourites. Aside from the fun of dressing up (as the Tin Man this year), I love seeing people's creativity in their pumpkin carving design. There are photos of some really impressive pumpkin carvings online that put my crude jack-o-lantern faces to shame. And after you carve your pumpkin you get to feast on baked seeds and pumpkin pie!
- My reno finale! Knowing that my seemingly never ending renovation will actually end sometime soon. I see the light at the end of the tunnel! Just in time for the holidays. I've learnt so much during the process and have so many people to thank. Stay tuned...
- Referrals - I'm having some issues with my water in my place in Belfountain, and everyone is so helpful with referring their 'people' to me. It is a huge help. It is so much more comforting using someone that has been referred then pulling a name off the internet… hmmm - sounds familiar!!
- Mary and I had lots of fun seeing all the animals and booths at The Royal Winter Fair. If you missed it this year – be sure to bookmark it for next year – its a real treat!
- My Mom has been particularly interested in the US election this year, and I've learned alot in the process. Thank goodness Obama got re-elected!