Vol. 20, Issue 5, September 2012
Happy back to school! It is funny how the whole world seems to follow the school year whether you have kids or not, must be from being ingrained for all those years. It is certainly valid in the real estate world. The day after Labour Day the listings started flooding the market, it was like the first day of school again!
What a beautiful summer we were blessed with. It definitely made for cottage time amazing especially for guests who came to visit. Mary & I personally got some good time up north, as well I went to visit my family in Vancouver. Jen is just returning from a wonderful experience in Ireland, where she travelled with her Mom & a friend and they rode horses for a week. Holly was thrilled to have her neice & nephew visit from BC, as well as get down to Massachusetts for a friends wedding. Holly is extremely excited about the renovation she is working on on her house – she will no doubt be giving all our clients lots of crazy tales and great tips on what to do and avoid on their reno projects as well. Tyler & Ashley moved into their new home in August, and after fixing up the place their tenant has moved into the basement as of Sept. 1st. Not only a first time home owner- a land lord to boot! Steph loved her holidays this summer – lots of extra long weekends cottaging, Claire enjoyed plenty of time with Addison, and is a heat and sun goddess, so loved the warm weather.
We are all looking forward to many of the fun activities that our team participates in in the Fall – including our great Pumpkin give away – on the last Saturday before Hallowe'en – Oct 27.
The real estate climate is humming along – not as frenzied in the summer time as the spring. Thankfully the interest rates remain low for the next while, which is allowing buyers to lock into great rates. Definitely recommended to get a long low rate, to avoid any mortgage shock when rates rise.
The talk in the news seems to be around the condo market. Certainly not great #'s overall, but we have had good success buying and selling a number of condos this summer. I believe there is a need and a place for the amount of condos in the city – and there are a lot of keen buyers and sellers out there. The big change has been that the supply has been going up, so the prices are softening, and sellers have to be serious about selling and settling on a price that is fair to both buyer & sellers. Just like the rest of the real estate market, sellers have enjoyed increasing prices for quite a while now, so most sellers have made a decent profit anyway.
If you want to discuss this further, feel free to call me or any of the other team members to get more pinpoint pricing information.
Guiding you home,
P.S. Save the October 27th date for our great Pumpkin give away!
QUOTE of the day: "Education is not preparation for life; education is life itself" ~John Dewey
- Susan Wood has started a new business helping people to declutter, downsize, pack/unpack & organize their home, business & life. If you are planning on listing your property and need help getting organized Susan would love to help take the stress out of it for you. Please contact her at or 647-926-4765.
- Congratulations Catherine Chamberlain & Rich Goode who were excited to be married on September 8, 2012.
- Congratulations to our client Sarah Trimble who successfully defended her doctoral thesis and can now call herself Dr. Trimble.
Babies! Sincere Congratulations!!
- Sincere Congratulations to Anna and Dieter Dijkstra who had a beautiful baby boy named Luke in July.
MARKET WATCH excerpts from Toronto Real Estate Board
Low-Rise Home Sales Drive August Price Growth
The average selling price for August 2012 transactions was $479,095 – up by almost 6.5 per cent compared to August 2011. The annual rate of price growth was driven by the low-rise home segment in the City of Toronto, including single-detached homes with an average annual price increase of 15 per cent.
The MLS® Home Price Index (MLS® HPI)* composite index, which allows for an apples-to-apples comparison of benchmark home prices from one year to the next, was up by 6.3 per cent year-over-year.
Greater Toronto Area (GTA) REALTORS® reported 6,418 sales through the Toronto MLS system in August 2012, representing a year-over-decline of almost 12.5 per cent compared to 7,330 sales reported in August 2011. The number of new listings reported in August was down by 5.5 per cent compared to the same period in 2011.
"Residential transactions were down in August compared to last year. Stricter mortgage lending guidelines, which came into effect in July, arguably played a role. In the City of Toronto, the additional impact of relatively higher home prices coupled with the upfront cost associated with the City's Land Transfer Tax led to a stronger annual decline in sales compared to the rest of the GTA," said Toronto Real Estate Board (TREB) President Ann Hannah.
"While sales were down year-over-year in the GTA, so too were new listings. As a result, market conditions remained quite tight with substantial competition between buyers in the low-rise market segment," said Jason Mercer, TREB's Senior Manager of Market Analysis. "The trends for sales and new listings are moving somewhat in synch, suggesting that the relationship between sales and listings will continue to promote price growth moving forward."
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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 104,352! Thank you for helping us hit our 100,000 hits!
What they got!
A continuing column of the Julie Kinnear Team's sales…
349 Sunnyside Ave ~ High Park
Asking Price: $1,049,000
Selling Price: $1,085,000
84 Constance Street ~ Roncesvalles Village
Asking Price: $997,000
Selling Price: $985,000
572 Roehampton Ave ~ North Toronto
Asking Price: $849,000
Selling Price: $861,000
22 Jedburgh Rd ~ Bedford Park
Asking Price: $699,000
Selling Price: $710,500
139 Merton St #631 ~ Davisville Village
Asking Price: $479,000
Selling Price: $479,000
180 Heward Ave ~ Leslieville
Asking Price: $699,888
Selling Price: $806,000
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!
Location, location, location – is that what it's all about?
Editorial by JKT member Jen Palacios
You've heard the phrase enough times when discussing real estate, but what does it mean? Is that what it's all about?
Essentially it means is that identical homes can increase or decrease in value due to location. No, it is not an old wives tale, it is true! It's repeated three times to emphasis the point, and so you will remember the importance of location. Yes, location location location is the big rule in real estate, and it sometimes gets overlooked as buyers get blinded by snazzy renovations.
Here are some quick points to keep in mind. The best locations are those in prime spots with the following criteria:
- Quiet streets
- Top-rated School Districts
- Near public transit
- In the middle of the block
- In economically stable neighbourhoods
- Close to outdoor recreation and parks
- Near shops and entertainment
- A house with a view
- The south side usually gets the most sun, the west facing can get sunsets – even the location of the house on the street matters
Bottom line - you can change a house, but you can't change the location!!
Next issue: Winter, Spring, Summer or Fall - what time of year is the best time to buy?
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 JKT – A few of our Favourite things:
- St.Lawrence Market - I haven't been to the actual St. Lawrence Market in years. I was showing condos in the area on a Saturday morning and it was fantastic. What a great vibe - beautiful fruits and vegetable stands lining the street. There were people buzzing around shopping, and tourists strolling through the crowd enjoying the scene. I love it!!
- Wilson Five BLX tennis racquet - I am in need of a new racquet, so I decided to demo some racquets from The Merchant of Tennis on Bayview. I have always played with Head racquets, so was a bit hesitant to try a Wilson. As soon as I started hitting with the Wilson, it was amazing! The transition was seamless - I had power and control. It is also supposed to be easier on the elbow. Game, set, match!
- Creme Fraiche on the corner of Annette and Durie. It took forever to open with only a tease of a sign promising interesting things to come. Creme Fraiche has quickly become a very popular little food emporium with very friendly and helpful staff. On Wednesday afternoons they have a small farmers market. I've been buying tons of peaches, tomatoes, sweet corn and gorgeous little purple fingerling potatoes. Perfect with Mont Forte cultured butter that they ordered in for me. There is a very good selection of bread (also some gluten free), cheese and delicious pickles made by Chris who works there. There is also some take- out food available which you can enjoy on the small patio at the side of the building. The grilled cheese sandwiches are amazing I've also tried the popsicles (spiced red plum, mojito). I could go on but might run out of space!
- Jodi Picoults latest book, Lone Wolf! She is one my favorite writers and this book has taught me so much about wolves and how they form their packs, it's been educational and a great read!
- My friend Trae! She is a very thoughtful and caring person and my life is a wonderful and funnier place because of her.
- Volunteering with the UN Human Rights Committee – Joining such a great group of tireless volunteers that all have one common goal to bring a voice & change to those who can't! October 11th marks the first universal day dedicated to celebrating girls and awareness to genderside around the world.
- Secret Daughter – My favourite summer read written by Shilpi Somaya Gowda
- My New Neighbourhood Mimico - Ashley and I have just moved into our new house in Mimico and it feels so GOOD! Love the wide lots, suburban feel, local mom- and-pop-shops and the proximity to downtown!
- At-Home Veggie Gardens - Our new neighbours are a sweet older first- generation Italian couple with their own amazing vegetable garden in the back yard. They share their delicious crop with us all the time. I might just have to start one next year!
- The Rogers Cup – had a great time at the big tennis tournament this year. Mary & I were fortunate to be invited into a private box and got to see the Canadian phenom Milos Raonic win his match too!
- Puzzles at the cottage! It was so much fun, especially when my sister and everyone joined in. I learned that it is a real passion for more than just me, and feels like such a treat to while away the time that way.