November 2009 Edition: Toronto Real Estate Market Views
PREFERRED CLIENT NEWSLETTER NOVEMBER 2009
Powerhouse market continues in October Magda Mo
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
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
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%
6,000 6 month 6.45%
5,000 1 year 6.45%
The above rates are accurate at the specified date and
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 www.cannex.com.
Christmas safety tips
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
• 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.
Vintage fireplace accessories
With the arrival of cold weather, it’s time to put on the Fenders
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.
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.