November 2009 Edition: Toronto Real Estate Market Views


Published on

Published in: Real Estate
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

November 2009 Edition: Toronto Real Estate Market Views

  1. 1. Market Views Magda Mo’s PREFERRED CLIENT NEWSLETTER NOVEMBER 2009 Powerhouse market continues in October Magda Mo Sales Representative The exceptionally strong fall resale The average price for October resale home market continued in October transactions was $423,559 which 416-483-8000 with a total of 8,476 properties sold, was up by a whopping 20% versus an all-time high for the month of the October 2008 average price of October. This figure was up by 64% $352,974. More significantly, this versus a very weak October 2008 and price established a new all-time high brought year-to-date sales to 74,721 for the GTA resale market, easily units sold, up a full 9% versus the eclipsing the previous record of comparable year ago period. The $406,877 which had been set in resurgence in the market is occurring across all price ranges, from first-time September. The average price for the first ten months of the year now stands Mortgage buyer level properties to luxury homes selling in excess of one million dollars. at $392,264, which is up by 3% versus the comparable year ago period. Very Rate Watch Low interest rates, growing consumer low inventory (14,771 active listings, confidence and the pent-up demand down 46% versus October 2008) Posted Rates – Nov 5/09 following a very weak October 2008 - combined with the surging demand April 2009 period have been the major is driving prices upward at a very brisk Closed Mortgages factors in this astounding recovery. pace. 1 year 3.80% 2 year 3.95% 3 year 4.45% Units Sold GTA Resale Home Sales - October 4 year 5.29% 9,000 5 year 5.74% 8,000 Open Mortgages 7,000 6,000 6 month 6.45% 5,000 1 year 6.45% 4,000 The above rates are accurate at the specified date and 3,000 have been supplied by a major bank. There may be Avg Price $356,423 $394,646 $352,974 $423,559 variations in rates between different financial lending institutions, and rates are negotiable with individual lenders. To obtain up-to-date posted rates for all financial 2006 2007 2008 2009 institutions, please consult
  2. 2. Christmas safety tips House Smart Christmas Tree Safety • A real tree should not lose green needles when you tap it on the ground. • Cut 1 inch off the trunk to help absorb water. • Leave the tree outside until ready to decorate. • The stand should hold at least 1 gallon of water. • A 6 foot tree will use 1 gallon of water every two days. • When connecting light strands, wrap a plastic bag around • Mix a commercial preservative with the water. connections and tie ends with Teflon tape. • Check the water level every day. • Never use electric lights on a metallic tree, use coloured • Secure the tree with wire to keep it from tipping. spot lights. • Keep tree away from floor heaters, fireplaces, or other • Make sure trees hung with Christmas lights are not heat sources. touching power lines. • Use only UL-approved lights, and no more than 3 strands • When using candles, place them a safe distance from linked together. combustibles. • Use miniature lights - which have cool-burning bulbs. • Place candles in sturdy containers. Remember, hot wax • Turn off the Christmas lights when you sleep, or if you burns kids. leave your home for very long. • Extinguish candles prior to going to bed. • Never use candles, even on artificial trees. • Dispose of fireplace ashes into a metal container until • Clean the tree stand to improve the tree’s water intake, cold. use one capful bleach to a cup of water. • After parties, check around and under sofa and chair • Dispose of the tree properly. NEVER BURN IN THE cushions for smouldering cigarettes. (Provide lots of FIREPLACE. ash trays) • Finally, consider an artificial tree (they are much safer and • Install at least one carbon monoxide detector in your cleaner). home. • Have an operable fire extinguisher readily available. Christmas Home Safety “Safety” Gift Ideas • Install a smoke detector or new batteries in the one(s) you have and TEST it. Put together a gift basket containing one or more of the • Use only outdoor lights outside your home. following items: • Examine light strings each year, discard worn ones. • Three smoke detectors and batteries. • Fasten the bulbs securely and point the sockets down to • A quality fire extinguisher. avoid moisture build up. • A flashlight and batteries or light sticks. • Connect no more than three strands together. • A first-aid kit. • Never use indoor extension cords outside. • A carbon Monoxide detector. • Avoid overloading wall outlets and extension cords. • A mobile phone. • Keep outdoor electrical connectors above ground and out • A second floor escape ladder. of puddles and snow. • “Emergency kit” - energy bars, water, battery radio, • Unplug light string before replacing a bulb. Review the flashlight/light sticks and a first-aid kit packed in a original package to verify proper wattage and voltage. small travel bag.
  3. 3. Vintage fireplace accessories Trendy With the arrival of cold weather, it’s time to put on the Fenders Corner fireplace. Curling up near a cozy fire is a wonderful winter pastime but you’ll need the right tools to tend your fire. A fender is a three-sided rectangular shaped metal piece Vintage fireplace accessories can add just the right that keeps sparks from jumping into carpets and flooring. atmosphere to your décor. Here’s what you’ll need to keep They could be very ornamental. your fire aglow. Decorative Screens Fireplace Tool Sets There were several styles and purposes for screens – to In the 18th and early 19th centuries when a fire was the only combat draughts or shield from heat. Some were used to source of heating a home, a large fireplace was essential. hide the fireplace in summer months. These were called Tool sets for the fire – a shovel, poker, brush and a pair cheval screens. They could be decorative and were made of tongs were usually made of brass, bronze or wrought from mahogany, rosewood or satinwood with needlepoint, iron. Bronze tools are more valuable than brass or wrought tapestry or embroidery details. Mesh screens came along iron. Look for fireplace tool sets to match the décor of your later and served the same purpose as fenders. They held the home. Ornate Victorian tools suit more traditional homes. popping embers in. More modern décor lends itself to the simple linear tools reminiscent of the Arts and Crafts period. Value Andirons or Fire-Dogs A matching set consisting of a fireplace tool set, fender and andirons is more valuable than a mismatched set. It’s hard to Andirons are iron supports used to rest burning logs in find a complete fireplace set because over the years the sets the fireplace. They were utilitarian and not particularly were often broken up. If you have one, hang on to it. decorative. However, in the 18th century the French fancied up their andirons with ornate figures such as dogs, lions, Good News fish, mythological creatures or people. These were dubbed fire-dogs. Today, the terms andirons and firedogs are used There are lots of vintage fireplace tools out there. You’ll interchangeably. Now, we hold the burning logs in cast-iron often find vintage fireplace tool sets more affordable than grates. You’ll still see andirons in antique shops. Use them new sets. Plus, vintage sets will have that great patina that to add a striking panache to your hearth. new sets cannot duplicate.
  4. 4. To My Valued Clients Here are a few tips to get your home ready for the cold water, fertilizers and pesticides. weather that’s just around the corner that will also shrink Hot water heaters your carbon footprint at the same time. Many water heaters default to 60 degrees Celsius when Turn down the thermostat they are shipped from the manufacturer, but temps that When the weather starts to get cooler, we all tend to high, pose not only high energy costs but scalding risks to reach for the thermostat. Instead reach for a sweater, use your family. Most water heaters operate just as efficiently at draft stoppers in doorways and invest in a programmable 49 degrees Celsius and the lower temperature could help thermostat - just don’t turn up the heat, For each degree increase the lifespan of the heater. For every 10 degrees you turn down the thermostat, it is estimated you’ll save you lower the water temperature, you can save between about four per cent in monthly utility expenses. three and five per cent in utility costs. Start composting Until next time, take care and please remember that all of your real estate referrals are both highly valued and greatly Fall is the perfect time to start a compost pile or bin in your appreciated. Happy Holidays! backyard (or inside, with a special composting bin). Even if you don’t have a large garden or yard, you can still benefit from composting - it enriches soil and reduces the need for Magda Mo Your referrals are sincerely Sales Representative appreciated! 416-483-8000 Sutton Group Bayview Realty Inc., Brokerage 1820 Bayview Avenue, Toronto, ON M4G 4G7 “Pearls of Wisdom” The Four Stages of Life: 1. You believe in Santa Claus. 2. You don’t believe in Santa Claus. 3. You are Santa Claus. 4. You look like Santa Claus. In accordance with PIPEDA, to be removed from this mailing list please email or phone this request to the Realtor ®. Not intended to solicit buyers or sellers currently under contract with a brokerage. The information and opinions contained in this newsletter are obtained from sources believed to be reliable, but their accuracy can- not be guaranteed. The publishers assume no responsibility for errors and omissions or for damages resulting from using the published information. This newsletter is provided with the understanding that it does not render legal, accounting or other professional advice. Statistics are courtesy of the Toronto Real Estate Board. Copyright © 2008 Mission Response Inc. (416) 236-0543 All Rights Reserved. D114