Tennille Jacobs

2007 Home Sales in the M5M Postal Code (Yonge/Lawrence/Avenue/Bedford Park) Area

2008-01-16T03:29:00Z

I have updated the information about Real Estate sales in the Bedford Park Neighbourhood (expanded it to postal code M5M) for 2007 - as a neighbourhood expert for several North Toronto neighbourhoods, expect more of this sort of information for each of my other neighbourhoods in the next little while. Please let me know what you think, what kind of information you think I should also include. I have further breakdowns available for anyone interested in finding out what the sales statistics for properties similar to your own are, so please do not hesitate to contact me for a more detailed comparative market analysis of your home.

For my basic stats visit: Property Statistics for the M5M Postal Code.

HAPPY NEW YEAR!!!! ~~ Housing starts expected to dip in 2008.

2008-01-03T13:46:00Z

New home construction will drop in 2008 in part due to higher housing prices and mortgage carrying costs. That’s the word from Canada Mortgage and Housing Corporation’s (CMHC) fourth quarter Housing Market Outlook, Canada Edition report.

Housing starts will reach 227,530 units in 2007, an increase of 0.1 per cent from the 227,395 units in 2006, according to the report. However, in 2008, residential construction will decline to about 214,000 units. Despite this drop, 2008 will mark the seventh consecutive year in which housing starts exceed 200,000 units.

“Continuing high employment levels, income gains and low mortgage rates have been a boon to Canada’s housing markets. Despite this, however, housing starts are expected to decrease in 2008,” said Bob Dugan, Chief Economist at CMHC. “The pull back in housing starts next year will be mainly due to the increases in house prices in recent years, which have pushed mortgage carrying costs higher.”

Existing home sales, as measured by the Multiple Listing Service (MLS^®), are poised to experience their best year on record with just over 521,000 units in 2007, a 7.8 per cent increase over 2006. The high level of MLS^® sales will be led by activity in the Prairies. With respect to 2008, the level of MLS^® sales will fall by 3.9 per cent, but will still be slightly over 500,000 units, the second highest on record. Growth in the average MLS^® price will remain high at 10.1 percent in 2007, mainly because of continued strong price pressures in Canada’s western provinces. As most resale markets move toward more balanced conditions, growth in average MLS^® price is forecast to slow to 4.2 percent in 2008.

The Ontario economy is expected to improve slightly heading into 2008. Accordingly, this will help sustain a high level of housing demand across the province. New home construction activity will be moderate between now and the end of 2008. Housing starts are expected to decline from 73,417 units in 2006 to 67,700 units in 2007. For 2008, a slight up-tick to 68,175 units is expected. The average MLS^® price in Ontario will rise by 6.2 per cent in 2007, while 2008 should see a more modest increase of 3.3 percent.

As Canada’s national housing agency, Canada Mortgage and Housing Corporation (CMHC) draws on over 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

Source: OREA

75 Acre Property for Sale McCowan Road in Stouffville

2007-12-29T19:53:00Z

McCowan Road, Stouffville - Amazing property with great potential. 75 Acre lot on the greenbelt - Zoned RC - perfect for a dream home mansion - or as an equestrian facility. To find out more visit: Property information

Make a big splash this summer

2007-05-30T12:59:00Z

A backyard swimming pool can be a joy to own – especially on those really hot and humid days. By keeping to a consistent maintenance schedule and following strict safety guidelines, your pool will provide hours of enjoyment cool relief from summer’s heat.

To keep your pool at its best and your family safe this summer, the Ontario Real Estate Association offers the following tips.

Safety first
Although a pool is fun, fun, fun, it can also be dangerous. Each year a number of children drown in backyard swimming pools so attention to safety is critical. Before beginning your swimming season, review the importance of strict safety guidelines with every member of the family. Be sure everyone knows the rules and informs any guests of those rules too. You may even want to consider taking a pool safety course from your local Red Cross. Here are some pool safety guidelines from Health Canada.

Check with your municipality to find out the rules for putting up a fence around your pool.
Build a fence and a gate that will keep children away from your pool.
Keep the gate locked at all times.
ALWAYS have an adult watching children in and around the pool.
Children under the age of 3 and children who cannot swim must wear a life jacket or PFD (personal floatation device).
Send children to swimming and water safety lessons.
Make sure lifesaving equipment and a first aid kit are handy.
Take a course on pool safety, first aid and lifesaving skills (such as CPR).
Have emergency phone numbers listed at the telephone closest to the pool.
Make sure toys, garden furniture and tools are not near the pool fence. Children can climb up on these things to get into the pool.

To learn more about water safety and learn to swim programs, please call your local Canadian Red Cross Society, or the local Branch Office of the Lifesaving Society.

Sparkling water
Keeping your pool crystal clear and sparkling does not need to be a challenge. A proper maintenance schedule can make the chore of pool maintenance a breeze.

Use a pool leaf skimmer to remove any floating debris.
Frequently check and clear the drainer baskets in the skimmer and pump for excess debris.
Vacuum the pool at least once a week or more especially following a heavy rainstorm. Some pool owners prefer to use an automatic pool vacuum that remains in the pools at all times. With this device, manual vacuuming is rarely required.

If you are vacuuming the pool yourself, begin by brushing down the walls from top to bottom. If your pool surface is vinyl, you can clean the “bathtub ring” with a vinyl pool cleaner and a sponge.

Keep your filter clean by rinsing it with a garden hose. A clean filter will ensure proper circulation and flow of water through the pool jets.
Clean your deck area by using a garden hose and direct the water away from the pool to keep dirt from getting into your clean pool.
Depending on your type of pool, you will need to test your water and add the correct balance of chemicals to keep your water safe, hygienic and clear. Your local pool store will test your water free of charge and recommend the proper chemicals you will need.
Many pool owners prefer to hire a professional pool maintenance company to provide weekly cleaning and inspections. Prices vary depending on your service contract.
Although it is relatively easy for a homeowner to open up the pool for the season as well as close it in fall, pool maintenance companies will take care of it for you for a fairly reasonable price.

Take the time to learn about pool safety and maintenance and you will make a big, safe splash this summer.

Source: Ontario Real Estate Association

Highest midmonth total ever - May 2007

2007-05-30T12:50:00Z

The resale housing market got off to a roaring start in May, with 5,003 sales reported during the first 15 days of the month. This is an 11 per cent increase over the first half of May 2006 and the highest midmonth sales total in TREB’s history.

“All signs point to a very healthy market for the remainder of the spring,” Mrs. Mason said. “In terms of activity, this year is about six per cent ahead of last year’s pace, and that’s an indication that there’s a lot of confidence in this market. Now is an excellent time to get started in the market or make a move.” The average price in the first half of May was up two per cent to $377,612 from the $369,543 recorded during the first half of May 2006.

Yeartodate prices were nearly five per cent ahead of the same time last year. Meanwhile average timeonmarket
for a listed home fell to 28 days, and the average listtosale price ratio rose to 99 per cent of the asking price.

In Scarborough’s West Agincourt neighbourhood (E05), condominium transactions more than doubled as the area saw a 39 per cent overall increase compared to midMay of 2006.

Strong condominium activity also pushed Mississauga’s City Centre (W15) to a 49 per cent overall increase compared to the same timeframe a year ago.

In the Downtown Toronto / Harbourfront area (C01), 34 per cent more homes changed hands compared to midMay of last year, fueled mostly by highrise condominiums.

In central Vaughan (N08), detached homes and town homes were the most active types as overall transactions increased from midMay of last year by 59 per cent."

Source: Toronto Real Estate Board

Creating more closet space in your home

2007-05-17T18:51:00Z

For most people the ideal closet is the size of a room with ample space to hang clothing, lots of shelves to tuck and stash away things -- a place where you can walk around and assess all your personal belongings.

In reality, most people's closets fall well short of this ideal. And few of us stop to consider the full potential of the closets we do have -- tiny as they may be. To understand their true potential, take a good objective look inside the closets you already have -- and the empty spaces that could be turned into closets or cupboards.

Closets are not the sort of thing most of us like to face. By their very nature, they invite us to avoid them. As long as the living space looks good, what's inside the closets doesn't really matter. It is said that both home and self improvement often start with your closets. The more effective and organized your closets are, the more effective and organized you feel.

The main things to consider when organizing your closets are budget, space and lifestyle. Even the tiniest closet can be maximized, and not necessarily at a high price.

Also, the contents of a closet don't necessarily have to fit the contents of a room. A hall broom closet can be turned into a pantry; a kitchen nook can be turned into a place to hang a wardrobe.

And you don't have to just hang things in closets. You can add shelf units, baskets, bins, or whatever fits, to store things in. Consider an air plane, a boat or a mobile home, where space is at a premium. Storage spaces are found above, below and to all sides of furnishings.

Here are a few more ideas to consider:

Make your closets serve a variety of purposes. Try adding a shelving unit to a clothes closet where you can store pantry goods and other items.
Always try to incorporate a variety of shelving units in a closet. These give you space to store small items such as shoes, scarves, handbags and even books.
The ceiling space in closets is seldom used. Consider adding a shelve or a compartment to store bulkier items such as luggage or blankets.
Before re-organizing a closet, take everything out. Set aside anything you haven't worn or used in a year. Consider donating these items to charity. Those you no longer use but want to keep should be stored separately in the attic or some place out of the way. Clearing out a closet is the first step in creating more space.
Invest in a shoe rack that can be incorporated into your closet. Whether it sits on the floor or hangs from the door or is part of a shelve unit, a rack will not only keep your shoes together it will give the whole closet a more organized appearance.
Plan to store your out-of-season clothes out of the way in boxes or elsewhere. Use the closet only to keep those items you wear regularly during a season.
If you dislike the smell of mothballs but want to ensure your closets smell nice and don't attract moths, try hanging a sachet of dried rosemary flowers or a mixture of cinnamon and cloves. There are many fresh-smelling deodorizers and perfumed papers to choose from on the market as well.
If closet space is still tight and there are few open spaces in your home that can be turned into closets, try adding an armoire or wardrobe. This was the furniture piece used for storing clothes back when there weren't built-in closets. It's still a popular and practical item in many homes today.
Try turning an entire wall in a room into a storage area. There are many systems available that can be easily installed. You can close them up by adding doors, or keep them open and airy.
Kitchens are where you can be most creative in finding extra storage space. To get the best use of kitchen closet space, store as much as possible outside the closets. That means hanging anything that can hang from the ceilings and the walls. Custom-design closets and cupboards for the specific goods each will hold. This may include drawers for knives, shelves for different size cans, jars, etc.
Adding a shelving rack to the inside of a closet door can make even the shallowest closet seem deeper.
In a child's room, don't limit yourself to the space inside the closet. Use lots of bins, stacking baskets and shelving units throughout the room to store and toss things in.

Source: Ontario Real Estate Association

Open House in Sandalwood/Ching on Saturday

2007-05-09T00:02:00Z

Sandalwood/Ching, Brampton - We invite everyone to visit our open house at 4 Irene Cres. on May 12 from 1:00 PM to 4:00 PM.

Property information

Open House in Sandalwood/Ching on Sunday

2007-05-09T00:02:00Z

Sandalwood/Ching, Brampton - We invite everyone to visit our open house at 4 Irene Cres. on May 13 from 1:00 PM to 4:00 PM.

Property information

Buying or selling a home? Start with free OREA tip books

2007-04-13T03:55:00Z

Buying or selling a home is a complex and often very emotional process. Just casually mention to family, friends and colleagues that you plan to buy or sell a property, and watch the advice pour in. Everyone has a story to tell: a great deal made and lost, a bargain that wasn’t, the frustration of a price war, and so on.

Truth is that buying or selling a home is a major business transaction -- one of the biggest most of us ever make. It requires tremendous knowledge and experience and a clear understanding of the legal issues and potential pitfalls.

That’s why it helps to use the services of a real estate professional who is a member of a real estate board. REALTORS have the training, knowledge and experience to help you every step of the way -- from the moment you think about buying or selling, to the time when the business transaction has been finalized.

Whether you are just thinking about buying or selling, or have already enlisted the services of a real estate professional, the Ontario Real Estate Association’s (OREA) has “tip” books that will help take the mystery out of a process often viewed as complicated and confusing. You can order free copies of How to Buy Your Home and How to Sell Your Home by calling OREA at 1-800-563-HOME.

Many of the books available on real estate buying and selling can be complex and confusing, assuming a lot more knowledge on the subject than most buyers or sellers, especially first-timers, possess.

But not these two handy and manageable guidebooks. Each is an easy-to-use, step-by-step guide that takes you through the process of buying or selling a home without a lot of confusion. The many terms used in real estate are explained in simple, easy-to-understand language.

Make no mistake, though. These two handy books can’t replace the knowledge, skills and expertise of a REALTOR. They will show you how to find and work with one, as well as with a lawyer and other professionals who will generally be part of your real estate team.

Both books take you through the real estate process step-by-step. You can read them cover-to-cover or just zero on certain topics. With their check lists, work sheets, loads of tips, hints and advice, these books can help ease the stress of buying or selling real estate.

Buying a home?
How to Buy Your Home offers a lot of great advice for both first-time and repeat home buyers. You’ll learn how to hire a REALTOR, a lawyer and other professionals, how to shop for a mortgage and compare mortgage options after meeting with various bankers, and how to select a home inspector to thoroughly check out the home you plan to buy.

This book can help you estimate the price range that’s right for you, especially if you are uncertain about how much you can afford to spend. If you are selling your current home to buy another, it discusses the advantages and disadvantages of buying or selling first.

You’ll also learn how to work with a REALTOR and other professionals, what additional costs to watch out for, how to close a deal and make a smooth move to your new home.

Selling a home?
Whether you are selling a home for the first time or have done it before, How to Sell Your Home helps you assess your reasons for selling and discusses alternatives to consider such as refinancing and renovation.

You’ll also learn about the cycles in the real estate market and the “seasonality” of home sales that may affect your decision on “when” to sell. For example, changing interest rates can affect market cycles; chilly winter weather may draw out fewer buyers, but you’ll also be competing with fewer homes on the market.

If you’re pondering whether to buy first or sell first, this book will help you understand the advantages and disadvantages of both and the various options. For example, how to get bridge financing (borrow funds for the purchase of your next home when the sale of your current home is not yet complete) if needed.

The book provides tips on how to find and work with a REALTOR, how to determine a realistic asking price and how to enhance your home’s appearance. It also explains how a REALTOR will help you market your home effectively, what to do when you receive an offer and how to complete a sale.

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Source: Ontario Real Estate Association

Arranging your mortgage doesn't have to be a baffling experience

2007-04-12T02:02:00Z

Buying a home today is an extremely attractive proposition. Interest rates are at their lowest in decades and the housing market is full of homes to suit just about any budget or family requirement. Still, you'll inevitably have to deal with financing and this will mean taking on a mortgage.

Sorting through the numerous mortgage options available to today's home buyers can be intimidating for everyone from first-time purchasers to long-time owners. The rules seem to change constantly and there's a smorgasbord of terminologies to learn.

Fear not--the basics are fairly simple and there are a host of real estate professionals more than willing to help, with your REALTOR and bank's mortgage specialist at the top of the list.

Nonetheless, you'll want to at least familiarize yourself with the mortgage process, how to arrange one and the different financing strategies involved.

First, it's necessary to know exactly which kinds of institutions will lend you money. Banks and trust companies lead the pack, but credit unions and private lenders also offer funds.

There's also an option to consult a mortgage broker. Brokers have access to a wide variety of lending sources, including domestic banks and trust companies, but they can also employ other alternatives such as pension funds, real estate syndicates and foreign banks.

You may also find yourself in a situation where you can 'assume' an existing mortgage held by the seller. Advantages of assuming a mortgage are that you can speed the buying process due to reduced paperwork and save money in lower legal fees and closing costs. A disadvantage is that the current lending rate may be less than that of the assumed mortgage.

Now that you have an idea who will lend you money, you'll need to know the different kinds of mortgages that are offered. The most common by far is the 'conventional mortgage.' Lenders will loan you up to 75 per cent of the appraised value or purchase price of the property (whichever is lower), and you must come up with the remaining 25 per cent yourself. Many people save specifically for this purpose, but in some cases, alternate or 'secondary' financing maybe available.

A 'high-ratio' mortgage is one alternative if you don't have the 25 per cent down payment. These are available for up to 95 per cent of the appraised value or purchase price of the property (whichever is lower) to a maximum set by government regulation. The proviso is that high-ratio mortgages must be insured, and the cost, from one to three percent of the mortgage amount, falls to you.

'Variable-rate' mortgages are usually offered for both conventional and high-ratio mortgages. Typically, your monthly payments remain fixed for the term, while the interest rate fluctuates with economic conditions. This means that if interest rates climb, you'll be paying more per month in interest. If rates drop, you'll then be paying more off your principal. Conversely, 'fixed rate' mortgages maintain the same rate of interest over the entire negotiated term.

There are some other concepts to become familiar with that will impact your mortgage and financial well-being.

Amortization refers to the time period in which the mortgage is assumed to be paid. A common amortization period is 25 years. This means interest and principal payments are set as if you were paying the amount borrowed over a 25 year payment schedule. Obviously, the shorter the amortization period, the less interest you will pay.

Prepayment privileges are very important for borrowers to consider. These arrangements allow you to pay money against the principal, reducing the total amount of interest you'll ultimately pay.

Open mortgages generally denote those that allow prepayment with few restrictions, while closed mortgages carry no prepayment options.

Don't be daunted by the many concepts and terms regarding mortgages. Arranging one isn't that difficult--all it takes is a little brushing up on your part and the experience and advice of a good REALTOR or mortgage professional.

For more information on buying or selling a home, contact the Ontario Real Estate Association at 1-800-563-HOME for a free copy of the How to Buy Your Home or How to Sell Your Home book.

source: Ontario Real Estate Association

IS REMODELLING A GOOD INVESTMENT?

2007-04-10T17:30:00Z

In 2005, the average return on a remodelling project was in the high 90 per cent. At the same time the average cost of a kitchen remodel nationwide was $108,000. Last year, housing sales and remodelling slowed. Returns on remodelling investment in 2006 had plummeted from the 90s to the 70s, a whopping 20 per cent drop.

Remodelling is still going strong, but with the slowdown in new home sales, most consumers have become reluctant to invest in higher-end products — expensive finishes such as fancy faucets and flooring, for example.

The word among those in the industry is: Don’t expect customers to pay US$700 to $900 for a faucet, because the ones most desired now are closer to the middle in price, $200 to $300. We have trouble believing that anyone would spend more than $200 on a faucet anyway. Nonetheless, now you know the industry buzz.

Keep in mind that our faucet example also applies to finish choices folks are making as they remodel. Other features and finishes offered at the upper end of the price scale included expensive tile and custom hardwood floors, and bathrooms with fireplaces.

But is remodelling still a good investment?

You bet, as good as ever. However, you may want to think out exactly what you want to spend on your remodel before making the final decision. Currently, more modest investments in finish items are getting the best return. Our recommendations:

- Before tackling any major remodelling project, first invest in safety upgrades. Make sure that your electrical and gas systems are in premium condition and that they comply with the most current electrical and plumbing codes. Ask your local building department to inspect your home and advise you on what repairs will make your home safest for you and your family. You may have to pay a small fee, but nothing like the cost of losing your home to a fire or an explosion.

- Don’t forget smoke alarms and carbon monoxide detectors. If you don’t have them, add them. If you do have them, bring them up to date — smoke detectors stop detecting after 10 years.

- Next, comes energy efficiency: Invest in compact fluorescent light bulbs, furnace cleaning and maintenance, and appliance replacement — new ones are a great deal less expensive to operate.

- Finally, don’t forget general home maintenance. A roof leak may cost $450 dollars to have repaired, but if left unchecked it could end up doing thousands of dollars in damage.

Remember that safety, energy and maintenance repairs are not considered remodels. A remodel is not tax -deductible against a home’s capital gain. A repair is deductible. That’s because a remodel is considered (by the government) as an improvement to conditions where a repair, even if it is an upgrade, brings the home back to its normal condition.

Once your home is safe, energy- efficient and properly maintained, remodel the master bath and kitchen. Of all possible remodels, they have always been top of the list. You’ll never want to leave once those two areas of your home are up to snuff.

Source: Canoe Home & Garden

Toronto Real Estate Market Watch - Prices Rise in March

2007-04-09T19:50:00Z

APRIL 2007. Prices increased moderately in March, with the average up three per cent over 2006 to $365,285. "Prices are rising above the rate of inflation (currently about two per cent), but not so rapidly that first-time buyers will be pushed out of the market," said TREB President Dorothy Mason.

During last month, TREB Members reported 8,518 sales of single-family dwellings across the GTA. "While down modestly (two per cent) over last year's total of 8,707, any result over 8,000 must be considered a strong performance," noted the President, "We expect a similarly robust showing from the remainder of the spring market."

Breaking down the total, 3,233 sales were reported in TREB's 28 West districts and averaged $343,475; 1,521 sales were reported in the 14 Central districts and averaged $471,804; 1,706 sales were reported in the 23 North districts and averaged $400,392; and 2,058 sales were reported in TREB's 21 East districts and averaged $291 ,721.

(Source: TREB)

Open House in Jane/Wilson on Saturday April 14th, 2007

2007-04-06T00:53:00Z

Jane/Wilson, North York - We invite everyone to visit our open house at 76 Foxrun Ave on April 14 from 1 PM to 4 PM.

Property information

Open House in Jane/Wilson on Sunday April 15th, 2007

2007-04-06T00:53:00Z

Jane/Wilson, North York - We invite everyone to visit our open house at 76 Foxrun Ave on April 15 from 10 PM to 4 PM.

Property information

New 55-year mortgage aimed at self-employed

2007-04-04T02:05:00Z

Reliant Home Warranty Corporation's Canadian subsidiary, Reliant Home Mortgage Canada Inc. (RHMC), recently announced plans to re-launch its mortgage programs including sub-prime residential mortgages and high-ratio mortgages specifically designed for self-employed consumers and those with difficult credit. RHMC said it plans to offer a 55-year sub-prime amortization program and a one of a kind Job Loss Protection Program. Reliant’s Job Loss Program will pick up the slack as long as the borrower’s mortgage is in good standing and they meet minimum working requirements. For more information, visit http://www.relianthomemortgage.com/.

Source: Ontario Real Estate Association