Calgary is in a buyer's market
Sellers need to pay attention to the current market
Calgary's MLS listings are taking twice as long to sell over last year, according to figures released by the Calgary Real Estate Board (CREB). Calgary's MLS listings remain elevated for April indicating two things: Calgary is in a buyer's market, and secondly, sellers need to pay attention and price their homes appropriately for today's market and ensure that their homes are well presented to encourage buyers.
Single family Calgary metro new listings added for the month of April totaled 3,377, an increase of 8.9 per cent from April 2007 when new listing added totaled 3,100 and a decrease of 3.3 per cent from last month, when new listings coming to the market were 3,493. Calgary metro condominium new listings added in April 2008 were 1,493, showing an increase of 29 per cent from the 1,157 new condominium listings added in April 2007 and a decrease of 4.4 per cent from last month's condominium listings of 1,561.
Single family Calgary metro sales for the month of April came in at 1,363, showing a decrease of 34.7 per cent from the 2,086 sales in April 2007 and showing a decrease of 3.9 per cent from last month's sales of 1,418. Condominium sales for the month of April were 581, a decrease of 30.8 per cent from the 839 condominium sales recorded in April 2007 and showing a slight increase of 2.8 percent over the 565 condominiums changing hands in March 2008.
"Given the hectic pace of the resale market in the last few years, many buyers are breathing a sigh of relief. There are more listings on the market, which means more choice for the buyers, with more inventory, buyers are taking their time to find the home that is right for them at the price that is right for them. What that means however, for a seller; you now need to pay more attention to how you price your home. The market is no longer bearing the prices that it did a year ago. A professional Realtor who understands what is going on in the market can help the seller with all of these issues in order to more effectively sell a home", said Calgary Real Estate Board President, Ed Jensen.
The median price of a single family Calgary metro home in April 2008 was $420,000 showing a decrease of 2.8 percent over April 2007, when the median price was $432,000 and showing no change from last month when the median price was also $420,000. All Calgary Metro MLS(R) statistics include properties listed and sold only within Calgary's City limits. The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.
The average price of a single family Calgary metro home in April 2008 was $474,564, showing almost no change from last year, up just 0.1 per cent from April 2007, when the average price was $474,250. The average price of a Calgary metro condominium was $312,586, showing a 5.1 per cent decrease from April 2007 when the average price was $329,429. Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differentials between geographical areas.
May 2, 2008 in Location, location, location | Permalink | Comments (1) | TrackBack
Canada's best places to live
Toronto ranks as number 51
The third annual list of Canada's Best Places to Live has just been published by Canadianbusiness.com. The list is designed to help measure as many different aspects of a community living as possible. You can use their findings in several ways. Perhaps you're planning to relocate. Perhaps you're looking to invest in real estate. Maybe you simply want to know how your community stacks up against its neighbours. Whatever your situation, there are some interesting facts here.
They've taken weather into account, of course. Jobs and home prices, too. They've also looked at crime, the availability of doctors, how easy it is to walk or bike to work, and more than a dozen other factors.
Unlike most listings of best cities, their ratings aren't about who has the best scenery, or the best restaurants, or the best beaches. Instead, they've tried to suss out the factors — many of them quiet and unobtrusive — that make a community a good place to live. Where a city ends up on their list is not based upon judges' opinions or popularity polls. It's based on hard numbers. That means their Best Places to Live rankings are a relatively unbiased guide to Canadian communities.
This year, they provide you with information on 154 communities, up from 123 last year. Thanks to improved sources of data, they are now able to break out metropolitan areas into separate listings for communities of 100,000 or more. So while they previously ranked all the various communities within the Greater Toronto Area as one unit, they can now separately rate locales such as Mississauga, Markham and Oakville that used to be lumped together under the Toronto label. Similarly, they can break Vancouver down into separate entries for the City of Vancouver, Burnaby, Surrey and other surrounding communities.
To make their listings as useful as possible, they included factors such as air quality, in their 16 indicators for each community. The maximum number of points a community could earn was 104.
Here's this year's ranking of Canada's best places to live »
April 29, 2008 in Location, location, location | Permalink | Comments (3) | TrackBack
Ontario's Top Ten Towns
Real estate expert Don Campbell and the Real Estate Investment Network have just released the top ten Ontario towns for real estate investors. Compiled from the research conducted by REIN, the top towns for real estate investment are:
1. Kitchener, Waterloo and Cambridge - Comprising Canada's Technology Triangle, the region is quickly becoming known worldwide as a competitive area in which to build a high-tech business. The area is so strong economically that the Real Estate Investment NetworkTM research team has dubbed it the "Economic Alberta of Ontario".
2. Barrie and Orillia (tie) - Barrie is an attractive community for people seeking the nearness and vitality of Toronto but with a slower pace of life. Orillia, with a rising population and expansion of post-secondary institutions, has tremendous opportunities for investors to provide student housing.
3. Whitby, Ajax and Pickering -The ripple outward from the Toronto toward this region has been picking up steam over the previous decade. However, until quite recently much of this demand increase has been from commuters wishing to locate in a lower housing-cost region of the GTA. Now, the area is attracting an increasingly diverse list of local employers.
4. Markham - Markham is known as the high-tech capital of Canada, with over 900 advanced technology and life science companies. This influx has led to the area outperforming many other areas of the province, in terms of both economy and real estate.
5. Hamilton and Brantford (tie) - Hamilton is transforming itself into a more diversified economy. A revitalization of key areas, a soon-to-be-opened new transportation route, and a stock of older, quality homes, will help keep Hamilton on the top ten list for many years to come. Brantford is strategically located and offers affordable housing. The multiple satellite secondary education campuses already located in the city provide a vibrant and younger population base.
6. Brampton - The city has a diverse and growing economy that, if anything, is growing a little faster than the infrastructure. Revitalization and densification of existing older areas will be a real key to Brampton living up to its ultimate potential.
7. Ottawa - Higher home-ownership costs, immigration and youth employment lifted rental demand in Ottawa. It is forecast that the city will pass from a very hot resale market with solid price augmentation to a more balanced market that will be more sustainable in the long-term.
8. Toronto - Taken as a whole, Toronto's real estate market will under-perform many of the surrounding regions, yet key neighbourhoods will have breakout years. Older condo units and ground oriented units in the areas such as Bathurst Manor, Armour Heights, and The Junction will do well in both average price increase percentage and potential cash flow. New high-rise condos located downtown and along the waterfront will still see demand. Other great transition areas include the Danforth, Palmerston-Little Italy, Woodbine, Gerrard and Jones.
9. Oshawa - The re-development of the downtown and many other developments about to be announced for the area will put the spotlight on a previously underperforming area of the city.
10. Whitchurch-Stouffville - This continues to be a town with tremendous potential. With low vacancy rates, no substantial increase in the number of rental units planned for the future, and a rising demand for the "country in the city" lifestyle, the town's biggest problem will be dealing with its growth.
April 13, 2008 in Location, location, location | Permalink | Comments (3) | TrackBack
Is this the future of real estate search?
Rotten Neighbor: it might just be the next best thing to the MLS when selecting a home to buy ... or not.
What is Rotten Neighbor? According to their press release: Rotten Neighbor is the first real estate search engine of its kind allowing you to rate and review good and bad neighbours before and after you move so you can make a smart real estate decision. How? By user contributed information on neighbours and neighbourhoods in Toronto as well as helping you understand Toronto neighbourhood trends. No matter if you are looking for townhouses, condominiums, single-family homes, or apartments Rotten Neighbor can help you find your dream neighborhood. See local neighborhood trends in Toronto and compare your neighbours to other neighbours in Toronto. Join the Rotten Neighbor community to get in touch with your Toronto neighbours and discover the best neighborhoods for you.
February 24, 2008 in Location, location, location | Permalink | Comments (2) | TrackBack
Toronto Neighbourhood Profiles
Toronto is known for its diversity and culture and this is reflected in its many neighbourhoods. The City of Toronto publishes detailed demographic information about each neighbourhood, prepared by the Toronto's Social Policy Analysis & Research Unit. Reports and links to other studies about Toronto's neighbourhoods are also included.
See Toronto neighbourhood profiles »
February 11, 2008 in Location, location, location | Permalink | Comments (1) | TrackBack
Toronto's Monopoly Play
Canadians vote like mad for Monopoly real estate
It may sound like fun and games, but some people are taking getting their cities into Monopoly's upcoming World Edition rather seriously. Campaigns on the social site Facebook and other Internet sites have boosted the fortunes of Canada's three candidate cities vying for spots on the game board.
Montreal, Vancouver and Toronto are among 68 world cities being considered for inclusion in the international version of Monopoly to be launched this fall, competing for spots otherwise occupied by the likes of Illinois or Pacific avenues.
The 20 world cities with the most votes as of Feb. 28 will earn a spot on the board known for making Marvin Gardens a household name. And while Canadian cities were at first slow getting out of the gate, all three are currently in the Top 20.
As of now, Canada is the only country with three cities in the Top 20. Montreal was ranked No. 1, Vancouver was No. 9 and Toronto No. 14. See the Leader Board.
Montreal #1? Come on Toronto!
A little bit of online campaigning may be responsible for that as Internet sites such as smartcanucks.ca and specialized groups on Facebook have been calling for Canadians to cast their votes in favour of the three cities.
But Canada isn't alone — virtually every city from Athens to Zurich has an online campaign to shore up votes.
"Last year, we voted to make Rome's Colosseum one of the new seven wonders of the world. Now you can vote to include Rome in the Monopoly," wrote Martha Bakerjian, on her travel blog.
You may cast votes for up to 10 of the "candidate cities" each day at www.monopoly.com.
February 9, 2008 in Location, location, location | Permalink | Comments (7) | TrackBack
Toronto welcomes the world
Toronto has become a city built in the image of its own people, fed by the many influences of its ever-changing human fabric, one that is constantly unfolding and alive with potential and energy. Torontonians display a level of openness unlikely in any city, let alone a city of Toronto’s size and magnitude.
Toronto is metropolitan, yet it feels as intimate as a village. Its welcoming spirit has attracted millions of people from all corners of the world, making up a deep and culturally rich human mosaic. Toronto doesn’t have a Chinatown, it has three of them. It doesn’t just have a Caribbean festival, it has the largest one outside of the Caribbean. Toronto isn’t just diverse, it’s the most diverse city in the world. Toronto is a culture of cultures, a place of infinite opportunities where everybody is appreciated for how they stand out, not for how they fit in. Torontonians don’t look to settle their differences, they are inspired by them. Torontonians celebrate humanity.
What makes Toronto such a uniquely interesting place is answered by a constantly growing list: its innovative architecture, its theatre district, the hundreds of ethnic restaurants, the character of its neighborhoods, its accepting legislation, a multi-talented workforce, museums that are themselves works of art, the stories of its street corners, its cleanliness, the International Film Festival, the parks, the lake, the celebration of humanity. In short, Toronto is a city built with and for the limitless imaginations of the people that come here. And it is these people that make Toronto the city of imagination.
A City of Tourism, Toronto is the perfect place for the traveler seeking a unique urban experience. With so much to offer the imagination, Toronto has become the City of Business, a place where the diversity of the population creates possibility. This also makes it the perfect City of Meetings as the city has always been an ideal gathering place.
For many years Toronto has been a best kept secret tourist destination; a result of its people’s modest character. But the media and demanding travelers have discovered this cultural Mecca and are beginning to spread the word.
The city’s unique diversity has quietly exploded into a variety of attractions that are unmatched elsewhere. A long weekend in Toronto will scarcely give you a flavor of what can be experienced in the city. And flavors, there are many: Greek, Chinese, Portuguese, Jamaican, Italian ... and these flavours go well beyond cuisine. From the one-of-a-kind Libeskind renovation of the Royal Ontario Museum to Gehry’s design for the Art Gallery of Ontario, from the height of the CN Tower to the endless lake view, from the new Four Seasons Centre for the Performing Arts to the world premiere theatrical production of Lord of the Rings, from the bohemian Distillery District to the multitude of ethnic neighborhoods, from the International Film Festival to Caribana, Toronto is a city constantly changing and evolving, enriched by an unlimited imagination.
Toronto, the city of imagination, is a destination that appeals to the demanding traveler’s curiosity for the new, the different, the interesting. For the traveler, Toronto is the perfect destination.
For more information on discovering Toronto, see torontotourism.com.
February 4, 2008 in Location, location, location | Permalink | Comments (1) | TrackBack
Sugar Beach
Jarvis Slip to become 'Sugar Beach'
A new urban beach is coming to downtown Toronto. Waterfront Toronto announced today it has chosen a playful beach design to revivify the Jarvis slip, a one-acre parcel of waterfront property between the Redpath sugar refinery and an office building for Corus Entertainment.
The winning design, Sugar Beach, weaves together a public plaza, a promenade and a new sand beach along a dock wall at the foot of Lower Jarvis Street. The plan’s signature feature is several rows of candy-coloured beach umbrellas. However, immediately after lavishing praise on the winning designers from Montreal-based Claude Cormier Architects, the chairman of the jury that selected Sugar Beach suggested the umbrellas be scrubbed from the design.
February 1, 2008 in Location, location, location | Permalink | Comments (0) | TrackBack
Sky's the limit for Bloor and Yonge
In a city afraid of heights, the advent of an 80-storey condo tower can be counted on to set off howls of outrage. Yet if history is any indication, once the screaming has subsided, Torontonians will be lining up to buy units in One Bloor East.
The $450 million project on the southeast corner of Bloor and Yonge will get underway at the end of the year when the leases in existing buildings expire. Demolition will start and after that, by next September, construction.
If all goes according to plan, the first residents will arrive in late 2011.
The developer, Bazis International of Kazakhstan – yes, that's right, Kazakhstan – has no qualms about investing in the Toronto condo market.
"We believe prices of real estate are still undervalued compared to world cities," says Bazis president Michael Gold. "Yonge and Bloor is the most important corner in Toronto. We wanted to address it and do something for Toronto. The city has been tough, but supportive. We believe real estate prices have a long way to go."
See story by Christopher Hume in today's Toronto Star »
October 30, 2007 in Location, location, location | Permalink | Comments (2) | TrackBack
Not Toronto's bedroom
Durham Region moves beyond its reputation as Toronto's bedroom community
A commuter town. A sleeper community. Suburbia. Call it what you will, but the term no longer applies to the lakeshore communities that make up Durham Region. “This area used to be a bedroom community for Toronto, but not anymore,” says Don Campbell, president of the Real Estate Investment Network (REIN). “It’s really come into its own.”
The Alberta-based real estate market guru says he was pleased to find a growing community when he visited Durham for a tour in late August.“It is an area going through a positive transition,” he said.
In the last 10 years, Durham’s population has exploded, reaching close to 600,000 at the last census count in 2006. Much of the growth has pushed out of Toronto, as people opted for affordable housing at the cost of a longer commute to the office.
But Mr. Campbell says recent economic indicators point to the fact that Durham is moving away from being just a bedroom community for Toronto employees. In fact, the economics are so strong that REIN listed Durham Region among the top 10 places in which to invest in property in Ontario in its 2007 publication, distributed to real estate investors across Canada.
REIN toured the region several years ago to make predictions about potential growth and as they retraced their steps this year, Mr. Campbell says Durham has managed to live up to most of those expectations.
“This region, in fact, has outperformed what we predicted the last time we were here,” he said, adding that the area would not have climbed its way into the top 10 if it was just a bedroom community.
“Bedroom communities typically are cyclical in nature. They go up and down,” he said. “People can leave any time to new towns with equal access to their jobs in the main economic centre.”
Commuter towns are usually defined as those having no economic base of its own to speak of -- jobs typically centre around the service-based industry, such as grocery stores and restaurants.
But a thriving community is one that has its own economic centre that offers jobs in a variety of industries -- making it a solid choice for a real estate investor looking to capitalize on a property by holding on to it over time.
“If your job is in Durham Region, then living in Durham Region makes more sense,” Mr. Campbell said.
So what are the economic indicators that make REIN so confident in endorsing Durham as a place to invest?
“The lifestyle it offers, local job growth, the transportation links,” he says, rhyming off just a few of what he believes are Durham’s greatest assets.
REIN’s report on top investment areas gives Durham a thumbs-up for being an area where the average income and the average job growth are increasing above the provincial average. Another thumbs-up goes towards local political leadership that has “created an economic growth atmosphere,” the report states.
For investors, it seems to be good news all around.
Speaking to investors at the recent REIN real estate tour -- which took 240 investors from across the country on a trip through Pickering, Ajax, Whitby and Oshawa -- Mr. Nevin listed the neighbourhoods ripe with potential for investors.
“The potential is certainly there,” he said. “There are some good transitional areas that have all this development happening around them. They will eventually be influenced by that development.”
September 9, 2007 in Location, location, location | Permalink | Comments (0) | TrackBack
Condo Living in Downtown Toronto
Downtown Toronto offers some of the best in condo living.
The Toronto core boasts a growing abundance of gorgeous city condominiums that offer such features as fourteen foot ceilings and sunny south east exposures, some so open and spacious you feel like you are living in a house. Well-designed condos with contemporary comfort are providing ready access to a fantastic downtown lifestyle in the residential quadrants of the Toronto core.
Owning a condominium provides all of the benefits of owning a home without the responsibility of maintenance and repair such as snow shoveling, grass cutting and gardening. In many condominium complexes you will enjoy the added benefits of 24-hour security, fitness facilities, and recreation & entertainment centres.
Downtown Toronto features a large selection of residential options that offer accessibility to the many cultural, historic, educational, leisure, retail and employment opportunities that Toronto holds. The Bloor Yorkville area alone offers 700 designer boutiques, restaurants, hotels, and world-class galleries. Other well known districts offering compatible fare are The Annex, Cabbagetown, and Chinatown, to name a few.
Residing in the Kensington Market area and the closely located Little Italy District brings you within easy reach of some of the freshest produce and best selection of cheese vendors in the City of Toronto.
Forest Hill offers homes of distinction that reflect individuality in architecture, landscaping and personalized residential uniqueness. Within the vastly growing city of Toronto and the greater Toronto area, Forest Hill maintains its unique existence as a quiet, charming, cozy village with a flair for offering an extensive and interesting assortment of restaurants, cafes, and bakeries.
Toronto’s historic west neighbourhood of High Park proudly presents homes located on tree lined residential streets. Like Forest Hill, quiet, intimate areas can be found with some homes being located on streets that reflect a mews style appearance. High Park is known for its 399 acres of green space and sport facilities for swimming, tennis, soccer, cycling and trails.
Families are moving back from suburbia and relocating in downtown Toronto. Spending years commuting on the freeway and stuck in traffic rather than time at home, parents are looking for opportunities to spend more time at home with family in their own community, downtown Toronto.
August 26, 2007 in Location, location, location | Permalink | Comments (2) | TrackBack
Putting jobs close to home
Forget long commute to downtown Toronto. The 'new urbanism' will allow suburban residents to walk or bike to work and retail stores in a 'compact lifestyle'.
A new live-work development planned for Whitby is part of an evolution in urban planning that will see more of us walking to work, riding our bikes and parking the car, say architects, planners and politicians.
"My sense is that we're at the beginning of what is going to be a profound transition to a more healthy, balanced and sustainable way of building our communities," prominent architect and urban designer Ken Greenberg said yesterday.
A planned development in Whitby that grabbed attention this week may provide homes for 14,000 and jobs for 10,000 when it's completed in a decade. Residents will be able to live and work in the same community rather than spending hours commuting to jobs in downtown Toronto.
It's the latest in a string of such developments planned or under construction in the Greater Toronto Area.
"It's the new urbanism. It's all about sustainable communities," said Dave Ryan, mayor of Pickering, where the largest of such projects is now in the works.
Construction of the Seaton community in North Pickering is to begin in about two years. When it's complete, about 20 years from now, it will be home to 70,000 people and 35,000 jobs.
The high-density developments will include more condominiums, more mixed-use buildings and more "green" components.
"It's about a more compact lifestyle where people are taking up less space in their living environment. The complete community provides jobs as well as places to live. It brings the amenities that contribute to the quality of life closer so that people don't have to get in their cars to go shopping and go to schools," Ryan said.
The province is pushing for more developments like this through its Places to Grow Act. Passed two years ago, it requires that at least 40 per cent of any new development in the Greater Golden Horseshoe be in areas that are already built up.
August 25, 2007 in Location, location, location | Permalink | Comments (0) | TrackBack
Toronto ranks 5th most livable city
Vancouver takes top ranking for fifth year in a row in Economist magazine survey
Vancouver has been ranked the best place to live in the world for the fifth year in a row in a survey by the Economist magazine, while Toronto took fifth place out of 132 cities. The two Canadian cities rank among the top five because they have low crime rates, little threat from instability or terrorism, and a highly developed transport and communications infrastructure, says the survey by the Economist Intelligence Unit (EIU).
Vancouver scored a livability index of 1.3 per cent, with zero indicating exceptional quality of living and 100 indicating life there is intolerable or severely restricted.
A good transportation system helped Vancouver top the Economist's list of the world's most livable cities, again.
Australia also fared well in the survey, securing four spots among the top 10 cities.
Algiers came in at the bottom of the ranking. Nine cities, including Algiers, present the worst-case scenario in which most aspects of living quality are severely restricted, according to the survey.
The EIU's livability ranking is part of the magazine's Worldwide Cost of Living Survey.
The survey considered 40 individual factors in categories such as stability, health care, culture, environment, education and infrastructure.
Top 10 cities Livability index
- 1. Vancouver - 1.3
- 2. Melbourne - 1.8
- 3. Vienna - 2.3
- 4. Perth - 2.5
- 5. Toronto - 3.0
- 6. Adelaide - 3.0
- 7. Sydney - 3.2
- 8. Copenhagen - 3.7
- 9. Geneva - 3.9
- 10. Zurich - 3.9
(0 indicates exceptional quality of living and 100, an intolerable one)
Source: eiu.com
August 24, 2007 in Location, location, location | Permalink | Comments (2) | TrackBack
Celebrity-owned home for sale
Paris Hilton lists Hollywood Hills home for at US$4.25 million
Paris Hilton is selling her Hollywood Hills, California, home. The 1926 Spanish-style house went on the market last Friday for US$4.25 million. "This is a very special celebrity-owned home," said a description on MLS, the multiple listing service brokers and customers rely on for a first look at available properties.
The house boasts four bedrooms and 3-1/2 bathrooms and includes a separate guest quarter and office. One bedroom was converted into the "ultimate closet." Hilton's publicist, Elliot Mintz, confirmed the house was put up for sale but declined further comment.
The move comes a month after the 26-year-old Hilton walked out of jail following a bizarre, three-week stay in which she was briefly released to home confinement and then sent back screaming to a lockup. Hilton had been sentenced to a 45-day jail sentence for a probation violation.
A throng of reporters and paparazzi staked out the residence above Sunset Boulevard last month, capturing the celebutante's move from jail to home and back. The onslaught caused some residents to circulate a letter advising neighbours to call police about the noise and traffic.
August 3, 2007 in Location, location, location | Permalink | Comments (1) | TrackBack
O Canada!
On this 140th anniversary of confederation, we can't help noting that direct translation of the French version of our national anthem is far more historically evocative than is the wording in English.
O Canada! Land of our forefathers
Thy brow is wreathed with a glorious garland of flowers.
As in thy arm ready to wield the sword,
So also is it ready to carry the cross.
Thy history is an epic of the most brilliant exploits.
No sword or cross in the English.
Happy Canada Day!
July 1, 2007 in Location, location, location | Permalink | Comments (1) | TrackBack
The Cottage dream persist
Despite rising cottage and gas prices, the number of Canadians committed to owning their own getaway retreat has increased since last summer, with 12 per cent of Canadians planning to or considering buying a recreational property in the next three years, according to the 2007 Royal LePage Recreational Property Report.
However, the rising prices at the pumps may trump the passions of some, as almost one quarter (23%) of Canadian cottage owners will reduce the number of trips they make to their cottages this summer, while 12 per cent of owners may consider selling their property if gas prices continue to rise.
The 2007 Royal LePage Recreational Property report comprises a nationwide research poll of Canadian cottage owner and buyer attitudes and actions (conducted by Maritz Research) and an extensive 51-market analysis of recreational property prices, trends and activity in selected leisure markets across Canada.
Those looking to buy recreational properties will find more affordable properties in the east, as balanced markets and anticipated new developments characterize the majority of Atlantic Canada, while stronger demand and cottage prices that commonly inch up toward $500,000 typify Ontario's market. Looking west to Alberta and British Columbia, cottage seekers will find some of the country's most expensive cottage real estate, accompanied by very tight inventory levels.
"Our research reveals that the demand for recreational property continues to far exceed supply across Canada, causing cottage prices to rise at a much quicker rate than the overall housing market. A standard waterfront, land access property increased by 13 per cent over the past year, with properties ranging from under $100,000 to over $1 million," said Phil Soper, president and CEO, Royal LePage Real Estate Services. "Families are managing the affordability challenge with creativity and personal flexibility. Prospective purchasers on a budget can still find a cottage or cabin, but they may have to accept a longer weekend commute, seek alternate ownership options or subsidize ownership through rental income."
Just how far will Canadians go to buy into cottage life?
The poll findings reveal that of those who are planning to or would consider purchasing a cottage, 49 per cent are willing to move into a smaller more affordable house in order to afford a cottage and 32 per cent are willing to take on a second job in return for lakeside living.
Other sacrifices to afford a cottage include making the cottage one's primary residence (49%), driving as far as necessary to get to the cottage (50%) and using the cottage to generate rental income during the year (53%).
For some, cottage ownership will come down to the luck of the draw. When Canadians who intend to buy were asked, "Does the prize of a cottage entice you to play hospital or foundation fundraising lotteries?" 16 per cent answered yes.
Why the urge to purge city life?
Even with the possibility of a more costly fill up at the gas station and more time in the car, Canadians who plan to or would consider purchasing a cottage cite that enjoying the outdoors (31%), escaping from the hustle of city life (30%) and spending quality time with their friends and family (29%) keep them heading to cottage country.
Wired at the beach
With the booming trend of satellite offices and instant messaging capabilities, being 'wired' at the cottage is of utmost importance to some cottage owners and purchasers. Poll findings show that 22 per cent of respondents consider having Internet access a deal breaker in terms of importance, as they work from the cottage. The poll revealed that 20 per cent of parents who are cottage owners said that the Internet is not important to them while at the cottage, but it is to their children. Interestingly, the poll found that 69 per cent of parents who own cottages cite that part of the reason they go to the cottage is to 'unplug' their kids and have them spend time outdoors.
For other Canadians, escaping to the cottage can be a form of rehab, if only temporary, allowing them to kick their 'Crackberry' habits. When cottage owners were asked, "Do you check your Blackberry device when on vacation at the cottage?" 33 per cent of respondents claimed they take a complete break from using the gadget. However, for seven per cent (7%), the addiction is too strong and they admit to checking their handheld device while indulging in some rest and relaxation.
ADDITIONAL POLL FINDINGS
It seems that the cottage experiences of childhood have a profound impact on many Canadians as the poll finds that 59 per cent of Canadians who own or may soon own a recreational property grew up spending time at a cottage. Half of Canadian cottage owners and intenders (50%) spent summers at family or friends' cottages, while 11 per cent enjoyed time at rental properties.
When it comes to matters of the heart, negotiations could become trickier for divorce lawyers. When asked, "In the instance of a divorce settlement would you choose to receive the primary residence or the cottage?" the properties were almost equally favoured, with 39 per cent of current cottage owners and those likely to or planning to purchase a cottage choosing the primary residence, and 33 per cent opting for the cottage.
Gas allowances aside, among Canadians planning to purchase or among those who would consider purchasing a cottage, 15 per cent have budgeted to spend between $200,000 and $500,000, while one per cent plan to spend between $500,000 and $1 million, and two per cent of respondents have budgeted $1 million or more for their lavish slice of heaven. The majority of Canadians who intend to purchase a recreational property have budgeted less than $200,000.
June 8, 2007 in Location, location, location | Permalink | Comments (0) | TrackBack
Boomers boost recreational market
Luxury recreational property sales will increase in coming months as affluent baby boomers drive demand for upscale product from coast-to-coast, according to a report released by RE/MAX. The report says the top-end of the recreational market stands to gain most from the aging baby boom demographic as many prepare for their retirement years. Teardowns, custom-builds, and renovation are the result, changing the shoreline of lakes and rivers in 34 of the 39 markets surveyed from Newfoundland/Labrador to British Columbia.
Upper-end sales have also affected recreational property values across the board, placing upward pressure on prices, particularly in Western Canada. Starting prices have topped $500,000 in 31 per cent of recreational property markets. Only seven offer waterfront properties under the $250,000 price point.
“Baby boomers are investing in the future from both a lifestyle perspective and an economic standpoint,” says Elton Ash, Regional Director, RE/MAX of Western Canada. “Tremendous equity gains have been realized in recent years as demand for recreational properties across the country swells. Given the aging of the population, this trend is expected to continue for at least the next five to 10 years as baby boomers move through the cycle.”
While building the dream clearly appeals to a broad range of purchasers, realizing ownership is becoming increasingly difficult. Affordability is top-of-mind in many markets. Buyers without the financial wherewithal to ante up are considering smaller lakes and riverfront properties, as well as timeshares and fractional ownership. Even land-leased properties are garnering attention.
Atlantic Canada continues to offer up the best bang for the buck, with the Eastern Coastline, NL at $75,000, Greater Moncton Area, NB at $80,000, and South Shore, Lunenburg County, NS at $225,000. In Ontario, Parry Sound, Elliot Lake, and Combermere attract price-conscious buyers staring from $200,000, $150,000 and $190,000 respectively.
In the West, great value can be found at Lake Winnipeg, MB from $200,000 as well as the Central South Cariboo in BC from $275,000. The most expensive markets in the country, located in British Columbia, Alberta and Ontario, include Invermere starting at $2.5 million; Kelowna at $2 million; Salt Spring Island at $1.5 million; Whistler at $1.1 million; Sylvan Lake and Penticton at $1 million; North Okanagan/Shuswap at $900,000; Comox Valley – Mt. Washington and Fraser Valley (Cultus Lake, Harrison Lake) at $800,000; Wasaga Beachfront at $700,000; Midland at $550,000; Bala, Port Carling at $500,000 to $550,000; and Honey Harbour/Port Severn, Orillia/Lake Couchiching and Port Elgin/Kincardine/Goderich at $400,000.
“Limited inventory levels have contributed to the upswing in starting prices in 54 per cent of recreational property markets this year,” says Ash. “Despite upward pressure, purchasers remain grounded when it comes to buying recreational properties. Very few purchasers are willing to spend more than fair market value.”
May 11, 2007 in Location, location, location | Permalink | Comments (1) | TrackBack
Next GTA boom communities
Durham set to become next GTA growth area
Brace yourself, Ajax and Seaton. Hold on to your hat, Pickering. The train is steaming out of the station and you are in for the ride of your life. According to those in the know – Greater Toronto's home builders – these municipalities are poised to be Greater Toronto's next big, well, Milton. (Population-wise, that is.)
Last week, Statistics Canada released new figures showing that sleepy little Milton's population had burgeoned by 71.4 per cent over five years. In 2001, the bucolic burb had some 31,500 residents. By 2005, the population had spiralled to 54,000, making Milton Canada's fastest-growing community. What makes Milton such an attractive place for homeowners to set down roots is its easy access to jobs in Mississauga, Brampton and Toronto.
Now, which Greater Toronto suburb will become the newest boomtown in the next Canadian census, Greater Toronto's housing experts were asked? Come on down Ajax, East Gwillimbury and Seaton in North Pickering. Oshawa and Clarington – indeed, much of Durham – are also on the verge of a housing boom, they said.
See article in the Toronto Star »
March 24, 2007 in Location, location, location | Permalink | Comments (0) | TrackBack
Anybody here from 'TRONNA'?
You know you're from Toronto when ...
A really good parking spot can move you to tears.
You make well over $100,000 and you still can't find a nice place to live.
When the temperature rises above zero degrees, you yell "Woohooo! Patio weather!"
You enjoy watching multicultural TV on channel 47 .
You know at least one person on every episode of Speaker's Corner.
You haven't been to the CN Tower since you were six, but still have nightmares about that elevator.
You've had 3 bicycles stolen in the past 5 years.
At least 4 of your friends have moved to Calgary.
You turn your nose up at Scarborough or Mississauga.
You never, never, never swim in the lake.
You know "The Beaches" neighhourhood is really called "The Beach", but say "The Beaches" anyway just to annoy the snobs who live there.
You can say "world's tallest freestanding structure" ten times fast.
You know the correct answer to "Where do shopping carts go to die?" is "The Don River".
You speak better Chinese than French.
The word "cabbagetown" doesn't strike you as particularily amusing.
The Castle Frank subway station remains one of the great mysteries of the universe.
You don't know where Fort York is, but have a vague recollection of being there in a past life.
You know the song "I Wanna Go To New York City" was intended as sarcasm, not a weekend getaway suggestion.
You know where to find Dim Sum, Sushi, Curry, and Pad Thai at 3 am on a weeknight.
You consider eye contact a sign of hostility and an invasion of your privacy.
It takes you half an hour to get to work by TTC and you are the envy of all your friends.
You mourned the death of the Spadina Bus.
You know someone who went to high school with at least one member of The Barenaked Ladies.
You know the difference between souvlaki, moussaka and spanakoptia.
You can name at least three locations of The Beer Store that are open till 11 pm.
You actually get these jokes and pass them on to other friends from 'TRONNA'.
March 21, 2007 in Location, location, location | Permalink | Comments (1) | TrackBack
Locations: Kensington Market
Toronto, Canada
In the 1920's, it was know as the Jewish Market. Today, you can sense the city's funky, multicultural mix in shops packed with goods from Europe, the Caribbean, the Middle East, South America and Asia.
See video on the delights of the Kensington Market:
Filmmaker: Eric Tao
February 10, 2007 in Location, location, location | Permalink | Comments (0) | TrackBack
Success in Urban Planning
Community Profile: Don Mills
The neighbourhood of Don Mills is centred at the intersection of Don Mills Road and Lawrence Avenue. It stretches north to York Mills Road and south to Eglinton Avenue, while Leslie Street forms its western boundary and the Don Valley Parkway its eastern limit.
Though at first glance Don Mills appears to be a typical suburban neighbourhood like many others surrounding large North American cities, when it first emerged it was anything but typical. While the neighborhood’s early history dates back to the 1800s when several mills operated along the Don River, its reincarnation in the 1950s as the first planned community in Canada put Don Mills on the map, and still defines it today.
As the Ontario historical plaque on the northeast corner of Don Mills Road and Lawrence Avenue indicates, Don Mills was planned as a model town that would humanize urban life in an age of industry and the automobile. Initiated and financed by businessman E.P. Taylor and designed by Macklin Hancock, a young urban planner, it was built between 1952 and 1965 on 835 hectares of land.
Hancock’s planning team envisioned a selfcontained community distinguished by consistent design principles and modernist style. Industry, commerce and major roads were arranged to be accessible but insulated from residential areas. Green spaces preserved natural watercourses and provided pedestrian routes between different neighbourhoods. The design was an immediate critical and commercial success, and Don Mills has since been imitated in suburban developments across Canada.
Part of the plan was to make the community home to a cross-section of residents that could live and work in the area and prevent it from becoming simply a bedroom community. High density rental townhouses and low-rise apartments co-exist with the spacious detached homes that populate winding, wooded streets.While immigration levels in the neighbourhood are slightly lower than Toronto’s average, residents still reflect the multicultural makeup of Toronto. A significant Chinese community is present, along with somewhat smaller Persian, Eastern European and Southeast Asian communities.
Some of the area’s top employers are major corporations that have large offices in the area, including Bell ExpressVu, Rogers Communications, Celestica and the Global Television Network. The Toronto Real Estate Board office is also located in the heart of Don Mills.
Housing stock consists primarily of detached homes, which carry an average price of $581,421. This figure is well above the average price in the GTA, and has increased by 14 per cent in the past year. One of the most common types of detached homes is a ranch-style bungalow with simple, shallow rooflines and carports instead of garages. There are also many attached homes in the area, averaging $422,101, an increase of five per cent from a year ago. Condominium apartments in Don Mills average $309,786, up 16 per cent in the past year. The vast majority of dwellings in Don Mills are part of the cohesive Modernist aesthetic that was mandated by the developer for all of the original structures.
At the geographic centre of the neighbourhood is a large construction site that was once Don Mills Centre, a shopping mall that had been a key part of the community since its inception. Located on the southwest corner of Don Mills Road and Lawrence Avenue, it was originally designed as an open-air shopping centre and later covered to form an indoor mall. It was recently bulldozed to make way for a new multi-use development including retail, residential and public space. Redevelopment plans were met with some opposition, especially by residents of seniors’ rental apartments surrounding the mall, many of whom used the mall as a meeting place. Until construction of the new Don Mills Centre is complete, York Mills Gardens at York Mills Road and Leslie Street, as well as Fairview Mall at Don Mills Road and Sheppard Avenue provide good alternatives. The new Centre is set to open in 2008, and plans indicate that it will be a spectacular centrepiece for the community.
Incorporated into connected green spaces that snake through the area are several schools, small parks and a variety of sports and recreational facilities. At Don Mills Road and Eglinton, just south of the core neighbourhood, the internationally-recognized Ontario Science Centre showcases fascinating educational exhibits enjoyed by adults and students alike.The Donalda Golf and Country Club hugs the Don River as it flows southeast through the eastern portion of the area, while Wilket Creek Park, Edward Gardens and enormous Sunnybrook Park lie just west of Don Mills on the other side of Leslie Street.
Easy access to the Don Valley Parkway and Highway 401 make Don Mills convenient for motorists, while a short bus ride connects travelers to the Sheppard subway line just to the north. One indication of the success of Don Mills as a planned community is the strong sense of neighbourhood identity felt by residents.Though officially part of Toronto, many residents refer to themselves as being specifically from Don Mills.While this strong identity reflects a thriving neighbourhood, it’s also a testament to the enduring quality of the original design.
January 31, 2007 in Location, location, location | Permalink | Comments (0) | TrackBack
The Town of Whitby
Established in 1855, The Town of Whitby is situated on the north shore of Lake Ontario and is the fastest growing municipality in the Region of Durham. The estimated December 2005 population for the Town of Whitby is 116,000.
Whitby has just introduce an excellent new website »
January 30, 2007 in Location, location, location | Permalink | Comments (0) | TrackBack
When good real estate goes bad ...
In 2005, Naples, a once-sleepy retirement haven on Florida's west coast was arguably the hottest housing market in America. Builders held lotteries to determine who could purchase homes in new gated communities. In the older neighborhoods, buyers were snapping up modest ranch houses and cottages soon after they were listed for sale. The median home price more than doubled between 2000 and 2005, to about $482,400.
The frenzied run-up prompted economists at banking concern National City Corp. and the economic consulting firm Global Insight Inc. to label Naples "the most overvalued" housing market in the U.S. in the second quarter of 2005, a dubious honor it retains. Today, prices are dropping, the number of unsold homes on the market has swelled to more than twice the national average and investors are scrambling to unload their properties.
Such a crescendo of activity might have prompted some to pull back. But plenty of investors, who purchased homes to rent or flip, continued to buy and sell through the height of the boom. One of them was Marjorie Dresner. The Canadian native believed that Naples, with its laid-back, balmy atmosphere, would long be an attractive market. A prolific investor, she purchased dozens of houses in recent years, many of them with a partner. One of them cost her $1.7 million.
The early run-up in real-estate prices in Naples was based on strong economic fundamentals. Low interest rates, the creation of new mortgage products and a strong economy triggered a wave of home buying by making ownership affordable for the masses. And Naples was especially desirable, with its chic restaurants, impeccably landscaped streets, stretches of pristine beaches and influx of baby boomers.
But it's increasingly evident that investors and speculators here and elsewhere played a greater role than previously thought in pumping up the real-estate bubble -- especially near the end of the run.
In late October, Ms. Dresner tried auctioning off 28 of her properties, but some bids were as much as 40 percent lower than what she paid. One three-bedroom ranch house she purchased in July 2005 in the middle-class Lake Park neighborhood fetched a high bid of $400,000; Ms. Dresner and a partner paid $690,000 for the house, according to county records.
January 19, 2007 in Location, location, location | Permalink | Comments (0) | TrackBack
Edmonton real estate predictions
Resale home prices will rise 15 per cent in 2007, Edmonton Real Estate Board president Carolyn Pratt predicted Wednesday at the board's annual forecast seminar. This would bring the average price of single-detached homes to $393,223 -- and beyond the reach of many buyers -- by year-end. "While the suburban dream of a single-family home still dominates in Edmonton, condominiums are being considered by a full range of demographic groups who are seeking both lower entry costs and a simplified lifestyle," Pratt said.
In 2006, 62 per cent of sales were of single-family homes, with condos capturing 31 per cent of the market. The balance was divided among row houses and duplexes.
Richard Goatcher, senior market analyst for Canada Mortgage and Housing Corp., was slightly less bullish.
"I'm hoping that we'll see (increases) closer to 10 per cent," he said.
"Supply will be higher in March and April than it is now," Goatcher said, because many new houses that now are being built will be completed -- causing buyers to sell their current houses.
Goatcher predicted that rents, after rising 10 per cent in 2006, will climb another 12 per cent in 2007 because of low vacancies. "It's pretty disappointing. The number of starts has dropped off because of costs."
Pratt pointed out that "increases in price have made housing unaffordable to a large group of people."
This problem has been compounded by redevelopment, she said.
"In some cases the value of the land under rooming houses and slum housing has increased to the point where the owner can redevelop," she said.
"This removes housing stock for the socially disadvantaged and chronically poor portion of our population."
Realtors cannot fix that problem -- which is forcing more Edmonton residents to live on the streets or in shelters, Pratt said -- but they can "influence the various levels of government to provide assistance" in delivering the basic necessity of housing.
The board's forecast seminar, in the Westin Hotel, was sold out. It attracted more than 500 of Edmonton's 3,100 realtors.
January 18, 2007 in Location, location, location | Permalink | Comments (0) | TrackBack
Winnipeg real estate market
Homebuyers in Winnipeg snapped up more upper-end homes than ever before in 2006 -- a year in which the Winnipeg Real Estate Board also recorded its first ever $2-million-plus house sale, according to year-end figures released Friday. The Winnipeg Real Estate Board (WREB) said 529 homes valued at more than $300,000 sold last year through its Multiple Listing Service. That's a whopping 60 per cent increase over the 335 homes that sold in that price range in 2005. And 2005's total was double that of 2004.
This year's total also included seven homes that sold for more than $1 million, and one property -- CanWest Global Communications CEO Leonard Asper's former mansion on Wellington Crescent -- which sold for more than $2 million ($2.025 million, to be exact).
WREB's outgoing president, Walter Boni, said he was surprised to see that many upper-end homes sell in a single year. He also didn't expect to see seven homes sell for more than $1 million.
"There are not a huge number of people that can deal in that ($1-millon-plus) market," Boni said. "But people look at these (homes) as an investment."
"That's a lot of million-dollar homes," said Peter Squire, the WREB's residential market analyst. "But that's a vote of confidence in Winnipeg. When people are willing to shell out those kinds of dollars, they are confident in the value of Winnipeg real estate in general."
The high number of upper-end-home sales helped propel the WREB to another record-setting year in 2006. The board set new benchmarks for both the number of units sold in a single year -- 12,304 -- and the dollar volume of sales for a single year -- $1.87 billion.
It was only the second time in the board's 103-year history that MLS sales topped the 12,000-unit mark. Last year's dollar volume total also easily surpassed the previous record of $1.62 billion set in 2005.
Boni and Squire said it's anyone's guess whether this year's numbers can be topped in 2007.
"I think what we've learned is that we should not be surprised," Squire said, noting a 10 per cent increase in the dollar volume of sales next year would push the dollar total above the $2-billion mark for the first time ever.
"Who would have thought that, when we were feeling fortunate to have reached the $1-billion mark five years ago," he said.
Now that the psychological barrier of a home in Winnipeg selling for more than $1 million has been shattered, Squire said there's no reason to think there won't be more of those big-ticket purchases in 2007.
As for the chances of the board recording another $2-million-plus sale, Squire said CanWest vice-president David Asper has his Wellington Crescent home listed for sale for $2.75 million.
Boni said a number of factors are helping to fuel the demand for high-end homes in Winnipeg. They include a high employment rate in the province, strong consumer confidence and low mortgage rates. He and Squire said the kinds of people buying these higher-priced homes include successful entrepreneurs, high-salaried business executives, dual-income families, and people moving here from more expensive markets like Calgary and Toronto, where $300,000 would be considered a bargain for an upper-end home.
The WREB figures also show the Winnipeg resale-homes market finished 2006 the same way it began -- with another record-breaking month.
Last month was the best December ever in terms of the dollar volume of sales, with $94.7 million worth of properties selling through the board's MLS. It was also the third best December for unit sales, with 593 properties changing hands during the month.
Boni said he expects 2007 to be another strong year for Winnipeg's resale-homes market, although maybe not quite as robust as 2006.
"It will just be a return to more balanced conditions."
He said his one concern is with the small number of homes that are for sale at the moment, even though there was a seven per cent increase in MLS listings in 2006.
Squire confirmed there were only 734 detached residential properties listed on the board's MLS as of the end of December. That's the lowest year-end inventory of listings since December, 2003, when there were 659 such homes for sale.
While that's good news for sellers, Boni said it makes it tough for homebuyers, because they'll have fewer homes to choose from and the nicer properties will likely attract multiple offers and bidding wars among prospective buyers.
"That's exactly what's been going on for the last two years and we had hoped with the increase in new listings (in 2006) that that would subside," he said.
Source: The Winnipeg Real Estate Board
January 7, 2007 in Location, location, location | Permalink | Comments (0) | TrackBack
Calgary real estate: 2006
In the eight years Robyn Moser has been a realtor in Calgary, nothing compares to what she witnessed and experienced in 2006. "It's been a fairly unique year and not typical of the Calgary real estate market from my experience. It's been fun, though, in regards to just the challenges that have come up in the real estate market," says Moser with Maxwell South Star Realty.
"I would say in the first six months of the year the market peaked in May and then it slowly did a correction in June, July, August, September, October, November. "But what we found at the end of November and in December, sales increased quite a bit." Moser says buyers "had to be on the ball" early in the year. "They had to know the house and be willing to move as soon as they were ready. There was a lot of what I would consider risk-taking that buyers did, but they did it because they had no choice," she explains.
Offers with no conditions, for example. The market was also characterized by bidding wars on hot properties with offers much higher than list prices. Average house prices in Calgary rose at a fast and furious pace, with eye-popping increases compared to the previous year.
At the end of December 2005, the average combined residential MLS property sold for $273,716. That rose to a high of $374,067 in October 2006 and dropped to $360,674 in November, according to the latest Calgary Real Estate Board statistics.
While experts don't believe the real estate market will experience those same phenomenal increases in 2007, they do forecast healthy increases in average prices. For example, the 2007 Royal LePage Market Survey Forecast predicts the average price of a Calgary home will rise by 10.1 per cent in 2007, compared to the national average of 6.5 per cent.
"The huge leap in Alberta house prices during 2006, and particularly those experienced in Calgary, was simply unsustainable for any extended length of time," said Phil Soper, president and chief executive of Royal LePage Real Estate Services.
"In a single year, Calgarians moved from enjoying some of the most affordable housing in metropolitan Canada to membership in the most costly club, previously the exclusive domain of Toronto and Vancouver. Those stratospheric price increases should return to earth in 2007."
Canada Mortgage and Housing Corporation, in a housing outlook report in the fall, said an "anticipated higher level of listings and modestly weaker demand should moderate price growth moving forward." It forecasts average price growth to ease to about nine per cent in 2007.
It also says existing home sales are expected to remain at high levels in 2007, reaching about 30,500 -- the third best on record.
Richard Corriveau, regional economist for the Prairies and Territories for Canada Mortgage and Housing Corporation in Calgary, says there are not enough superlatives to describe Calgary's resale market in 2006.
"It was certainly fantastic, record-breaking," says Corriveau. "What's interesting is that when we saw a lower level of active listings, that's when we saw the strongest gains in sales, whereas when more active listings came on stream, more selection to prospective buyers, that's when sales actually began to taper off.
January 6, 2007 in Location, location, location | Permalink | Comments (0) | TrackBack
Toronto Atractions
Toronto is a dynamic, cultured and prosperous city situated on the Northwest shore of Lake Ontario. It is the largest urban centre in Canada and the economic engine of the country. According to the United Nations, Toronto is the world's most ethnically diverse city. It is home to people from 169 countries and 80 ethnic groups who speak more than 100 different languages. Despite the challenges that accompany any big city, Toronto is known for being remarkably safe and liveable for people from all walks of life. The city is made up of many distinct neighbourhoods that offer a very strong sense of community to residents and visitors alike. A diverse economy and a flourishing arts scene mean that there is something for everyone in Toronto.
Canada's National Tower (CN Tower)
Defining the Toronto skyline, the CN Tower is Canada's most recognizable and celebrated icon. At a height of 553.33m (1,815 ft., 5 inches), it is the World's Tallest Building, an important telecommunications hub, and the centre of tourism in Toronto. Each year, approximately 2 million people visit the CN Tower to take in the breathtaking view and enjoy all the attractions it has to offer.
Rogers Centre
Rogers Centre (formerly SkyDome) was the world's first multi-purpose retractable domed stadium. Crouched beside the soaring CN Tower, its round silhouette forms an unmistakable part of the Toronto skyline. Located minutes from Union Station in downtown Toronto, Rogers Centre is home to the Toronto Blue Jays baseball team and the CFL's Toronto Argonauts. The popular venue also plays host to large concerts, trade shows and other major events.
Air Canada Centre (ACC)
Toronto's Air Canada Centre is a state-of-the-art sports and entertainment facility. The ACC, as it is commonly known, is the home to the NHL's Toronto Maple Leafs, the NBA's Toronto Raptors and the Toronto Rock of the National Lacrosse League. In addition to housing professional sports teams, the ACC hosts some of the biggest events that happen in the city, including major concerts and shows. It is located in the heart of downtown Toronto, just steps from Union Station.
Art Gallery of Ontario (AGO)
Founded in 1900 by a group of private citizens, the Art Gallery of Ontario is now one of the ten largest art museums in North America. The AGO currently has more than 40,000 works in its collection, documenting over 2100 years of human creativity. It also houses major traveling exhibits from around the world. A complete transformation of the gallery has begun, designed by renowned Canadian architect Frank Gehry, which will thrust the AGO into the world spotlight when it opens in 2008.
Royal Ontario Museum (ROM )
The ROM contains Canada's largest museum collections with more than five million objects. The collections grow by approximately 67,000 items each year, reflecting the Museum's diverse interests. The collections are extraordinary in their scientific value, territorial and disciplinary range, containing matchless artifacts of importance. A major expansion and renovation of the ROM is underway, set to be completed in mid-2006, that will dramatically transform the museum into an architectural marvel in the heart of the city.
Theatres
Toronto has a diverse and lively performing arts scene, with some 75 productions on stage each month. There is truly something for every taste - glittering Broadway musicals, mid-size dramas, stand-up and sketch comedy, opera, dance, symphonies and festivals to satisfy even the most devoted theatre-goer. Toronto is the third-largest theatre centre in the English-speaking world, after London and New York City.
The Toronto Zoo
The Toronto Zoo is one of largest zoos in the world, covering over 287 hectares (710 acres). The zoo has over 5,000 animals, representing more than 460 different species. In addition to many children's exhibits and activities, there are over 10 km of walking trails for visitors to navigate through.
Paramount Canada's Wonderland
Paramount Canada's Wonderland Paramount Canada's Wonderland is Canada's premier theme park. It features over 200 attractions, including 65 rides, exciting live events, a 20-acre water park and North America's greatest variety of coasters. Located off Highway 400 north of Toronto, it offers plenty of options for thrill-seekers and families alike.
Centreville Amusement Park
Centreville Amusement Park is located on the islands that jut out into Lake Ontario just south of Toronto's city centre. Ferries from the mainland shuttle visitors across Toronto Harbour to the islands every 15 minutes. Stroll around and admire the view from over 600 acres of parkland, or take advantage of over 30 rides and attractions and a variety of food outlets.
Ontario Place
Ontario Place is an internationally acclaimed cultural, leisure and entertainment complex located on three man-made islands along the Lake Ontario waterfront. It features a large concert venue, as well as a wide array of rides, exhibits and activities for children and adults. Cool down at the water park, test yourself in mini-putt golf or thrill your senses with a legendary IMAX¨ screening at the famous Cinesphere.
Ontario Science Centre
The Ontario Science Centre pioneered the concept of interactive science museums, and has attracted 37 million visitors since opening on September 27, 1969. A favourite of students of all ages, it has displayed a wide variety of fascinating exhibits covering all branches of science as well as explorations of behavior, technology and the universe. While also playing host to many international exhibits, the Centre is a leading developer of interactive exhibitions for science centres around the world. It is currently undergoing a $40 million renovation and expansion.
Canadian National Exhibition (CNE)
The CNE is the largest annual fair in Canada and one of the most cherished Toronto traditions since 1879. Every summer during the second half of August it takes place by the shores of Lake Ontario just west of the downtown core. Always a favourite family activity, it features all kinds of games, rides, shows, special events, demonstrations, performances, food and shopping.
Fort York
Historic Fort York was the location of the Battle of York during the War of 1812. It is very well-preserved and now offers a fascinating re-creation of what a soldier’s life would have been like 200 years ago. It is designated as a National Historical site, and offers tours and full-costume demonstrations that take visitors back to a time when Toronto was in its infancy.
December 28, 2006 in Location, location, location | Permalink | Comments (3) | TrackBack
Playter Estates - Danforth
Location
A bit of a secret to most Torontonians, Playter Estates-Danforth is a leafy, prosperous, delightful, out-of-the-way community between the Don River and Pape Avenue, just north of the bustling Danforth.
The area’s name comes from Captain George Playter, a United Empire Loyalist who fled to Canada rather than fight against the British in the American Revolution. George and his sons acquired land in this sector, and in the 1870s George’s great-grandson, John Lea Playter, built the commodious brick house that still stands at 28 Playter Crescent, the architectural centrepiece of the district. The land around the estate was farmed until 1912, when the Edwardian houses started to go up. The original Playter mansion is impressive enough to have played a role in several feature films, and local residents are no longer surprised when they find production-company trailers cluttering the neighbourhood.
Selling Features
It’s been called a smallish Rosedale, and some of the mansions have been turned into apartments. In general, the Edwardian houses are older, larger and more expensive than those in surrounding districts—they almost justify the word estates.
December 12, 2006 in Location, location, location | Permalink | Comments (0) | TrackBack
10 Toronto Street Sold
A Canadian business landmark is about to change hands after a boutique investment firm agreed to buy the historic office building at 10 Toronto St., once Conrad Black's headquarters. Morgan Meighen & Associates bought the 153-year-old building for $14 million from Hollinger Inc., the holding company once controlled by Black.
See full story in the Toronto Star:
December 9, 2006 in Location, location, location | Permalink | Comments (0) | TrackBack
About Toronto, Ontario
Toronto is a great city to live and work in, or just to visit. We have a high quality of life and reliable services, in one of the safest urban environments in the world. We have a lot more going for us too. Just check out the facts! Toronto is also in the midst of restructuring its municipal government, in one of the most ambitious undertakings of its kind anywhere. 2.4 million people in seven local governments have been merged into one city.
At the same time, the city's responsibilities, revenues and property tax base have been reformed. Despite all of this, there has been no disruption of city services to residents and businesses. While the new Toronto government is centralizing its administration, it is maintaining services from 2,600 access points. Libraries, homes for the aged, community centres, child care centres, fire halls, police stations, recreation facilities and social services remain in local communities within the city. The six area municipal civic centres (former city halls) will continue as well to supply most basic local services.
Visit the official City of Toronto Web site.
October 28, 2006 in Location, location, location | Permalink | Comments (0) | TrackBack
The Town of Markham
T
he largest of nine municipalities in York Region and covering over 200 square kilometres, the Town of Markham is home to a growing population of over 250,000.
The Iroquois, who lived along the Katabokakonk River (now the Rouge River), first settled the area around AD 1000. The modern history of Markham dates to 1791, when John Graves Simcoe was appointed the first lieutenant-governor of Upper Canada. His concern for improving military security led to the clearing of Yonge Street and a system of free land grants, both of which greatly influenced the growth of Markham. Simcoe was also responsible for naming the township after his friend William Markham, who was then the Archbishop of York.
Up until the 1830s, Markham was characterized by the development of agricultural industries. Its many rivers and streams supported water-powered saw, grist, and woollen mills, spurring the growth of hamlets. With improved transportation routes and a growing population, urbanization increased. By 1857 most of the township had been cleared of timber and the land was under cultivation. Markham expanded and new specialized industries, such as wagon works, tanneries, farm implement manufacturers, and furniture factories, sprang up.
The development of railways in neighbouring townships threatened the prosperity of Markham, so local business owners lobbied for its own railway. In September 1871 the Toronto and Nipissing Railway Company, with stations in Unionville and Markham, officially opened its Scarborough-Uxbridge line.
After World War II, Markham felt the effects of urban encroachment from Toronto. Heavily industrialized by the war effort and experiencing a post-war baby boom, the town became a magnet for new immigrants from all over the world. The Province of Ontario established the Municipality of York in 1971 and a large portion was incorporated into Markham. The opening of Highway 404 in the mid-1970s further accelerated urban development.
Markham today is a multicultural community of over 65 cultures and languages. The town has a rich legacy, which it’s dedicated to protecting. In 2000 it won the prestigious Prince of Wales Heritage award, honouring the local government for preserving its heritage buildings.
Attractions include the Markham Museum, the Markham Theatre for Performing Arts, and the Varley Art Gallery, which boasts an extensive collection of paintings by one of Canada’s famous Group of Seven artists, F. V. Varley.
Known as the High-Tech Capital of Canada, Markham is home to over 900 high-tech companies including IBM, Sun Microsystems, Apple, ATI Technologies, Hewlett-Packard, and AT&T.
Sports enthusiasts will find 214 sports fields, 125 soccer fields, 89 baseball diamonds, plus numerous tennis courts, skating facilities, cricket pitches, rugby fields, bocce courts, bowling greens, and golf courses. One of Markham’s best new courses, Angus Glen Golf Club, will host The Bell Canadian Open Championships in 2007.
For nature lovers, Milne Dam Conservation Park on the Rouge River is alive with diverse wildlife and plants and is a popular migratory destination for birds.
Markham offers luxury hospitality, shopping and fine dining, music and theatre productions, galleries, a historic museum, recreational activities, and cultural and heritage festivals.
Community Resources
York Region District School Board
York Catholic District School Board
October 13, 2006 in Location, location, location | Permalink | Comments (1) | TrackBack
TD long-term real estate forecast
Prices to rise 4% annually for 25 years - with variations
H
ome prices in Canada should rise four per cent annually on average over the next 25 years, although that won't hold for all houses in all markets, according to a report released Thursday by the economics wing of TD Bank. "Our report confirms the old adage that real estate is all about location, location, location," Craig Alexander, deputy chief economist of TD Bank Financial Group, said in a release.
"There are hundreds of local markets, each with their own characteristics and prospects that will determine the value of a home."
Larger cities where land is scarce and demand the strongest will likely see price gains above the national average, the report said, identifying Victoria, Vancouver, Toronto and Montreal as cities likely to continue to see higher prices than the average.
While Calgary and Edmonton have seen flat average annual price gains but the "stars are aligned" for them to experience "above average price gains in large part due to favourable economic prospects, stronger projected population growth and younger population than many other provinces."
"There is no question that the recent dramatic price growth in Vancouver, Calgary and Edmonton is unsustainable, and this poses risks in the near-term," said Alexander. "Nevertheless, over the long haul, property values in these urban centres should do well, but the average annual price increase should be at a mid-single digit rate."
Markets such as Halifax, the Ontario cities of Kitchener and Waterloo, London, the national capital area of Ottawa and Gatineau and Quebec City will experience average growth for resale prices over the next 25 years, the report said.
"Conversely, a number of Canadian cities will experience slower than average home price growth for the same period of time, particularly reflecting less supportive demographic conditions." " "Fears that baby boomers will severely depress housing markets as they sell their properties are overblown," Alexander said. "Support for entry level homes could come from the immigration front. Unless immigrants are better integrated into the labour force, a trend we deeply hope will take place, their demand for homes will be greatest for more modest dwellings." See full report:
September 14, 2006 in Location, location, location | Permalink | Comments (2) | TrackBack