Jordan Epstein Toronto Real Estate

2Br Condo For Sale In Toronto!!!

Jordan Epstein — Wed, 14 Sep 2011 21:50:00 GMT

• 2 bath, 2 bdrm apartment - MLS® $394,800 - REDUCED!!!

Sheppard/Yorkland, Toronto - Remarks For Clients: Brand New Luxury Condo By Monarch, Rarely Offered 2 Bedroom And 2 Bathrooms Plus Den Corner Unit, More Than 1000 Sqft With Two Balcony's. Unobstructed Panoramic View Of City, Extra Long Wrap-Around Balcony, Den Has Window Could Be 3rd Bedroom, Close To Subway, Fairview Mall, Grocery, Easy Access To Hwy404, Building Features Incl Gym, Sauna, Pool, 24Hr Concierge, Party Room & Much Much More!! Kitchen Upgrade - Back splash Tile.
Extras: Brand New 6 Appliances. Fridge, Stove, Dishwasher, Microwave, Washer, Dryer, One Parking And One Locker

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Apartment For Sale in King West

Jordan Epstein — Tue, 13 Sep 2011 22:40:00 GMT

Stunning Penthouse!!!

• 3,500 sq. ft., 3 bath, 4 bdrm apartment - MLS® $2,499,000

King West, Toronto - Remarks For Clients: Introducing An Extraordinary Rare Penthouse In Toronto's King West Neighbourhood! Amazing For Entertaining With A Post Card City View. Approx 3500 Sqft, With Two Magnificent Terraces Approx 2800 Sqft Combined. 4 Bedrooms,3 Bathrooms, Parking & Huge Locker. Gorgeous Engineered Hardwood Floors, Custom Italian Scavollini Kitchen,10 Ft Exposed Concrete Ceilings,Spa Like Bathrooms, Large W/I Closet.Two Way Gas Fireplace, Gas Bbq Hook Up
Extras: Private Double Elevator Access Directly To The Unit.Includes Stainless Steel Appliances: Subzero Fridge, Fisher Paykel Dishwasher, Three Meile Ovens, Meile Induction Cook Top, Liebherr Wine Cooler,All Elfs

MUST SEE VIRTUAL TOUR!!!

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Condominium For Sale in Mississauga

Jordan Epstein — Wed, 27 Jul 2011 19:23:00 GMT

• 1 bath, 2 bdrm apartment - MLS® $229,000

Burnhamthorpe/Living Arts, Mississauga - Remarks For Clients: Chic, Urban, Hot. The Premiere Location In Mississauga's New Downtown City Centre. Across From Liv Arts Centre, Future Sheridan College, Ymca, Library, City Centre Square. Steps To Summer Concerts, Events, Ribfest, And One Block From Sq.One. Cool 1Bedrm W/Hardwood, Appliances, Private Balcony O/Looking Rooftop Garden & New 'Signature Park'. Fantastic Amenities Incl; Private Theatre, Fitness Facilities, Pool, Simulated Golf, Guest Suites, Games Rm, & Bbq's.
Extras: Street Level Offers An Ultra-Convenient Retail Component Featuring Hasty Market, Second Cup, Pharmacy, Salon, & Walk-In Clinic. Great Spot To Call Your 1st Home, Scale Back A Bit, Or Hang Your Hat Between Trips.

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2 Story For Sale in Sheppard/Brian

Jordan Epstein — Thu, 02 Jun 2011 20:59:00 GMT

• 2 bath, 3 bdrm 2 story - MLS®$439,000

Sheppard/Brian, Toronto

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Buying recreational property in winter

Jordan Epstein — Tue, 08 Feb 2011 17:31:00 GMT

As more and more Canadians reach the point in their lives where they have paid off their mortgage, or have greater financial resources, their thoughts may turn to buying a vacation property. Demand for summer cottages or year-round vacation homes has increased over the years. What was once a relatively low cost alternative to an annual family vacation has now become a significant financial investment.

Generally, there are three primary factors that drive the demand – and price – for a recreational property:
The commute time / distance from a major urban center
Proximity to leisure activities (either waterfront for summer, or ski hills in winter, or both!)
Accessibility to the property throughout the year.

As you would expect, the cottage that can be used in winter as well as summer has the greatest usage and appeal, and that usually translates into a higher asking price. However, although the price may be higher, a year-round property usually offers the best opportunity to increase in value over time, as well as offer more potential for rental income.

If you’re considering a year-round property versus a summer cottage, winter can be an ideal time to view the property. It will give you a realistic idea of how long it will take to get there, and how accessible the roads are in challenging weather. If the roads to the property are not plowed, it may actually be accessible only by snowmobile or ATV, and that will have a major impact on its selling price and future resale appeal. Viewing the cottage in winter also lets you see the heating system in action. Wood stoves and fireplace inserts do a far better job of heating a space than an open fireplace, but only the hardiest individuals would find them adequate to meet all the demands of a cold Canadian winter. If there is no back-up heating system, either electric baseboards or a furnace, you will want to allow for the expense of installing one as part of your budget. Remember that if you plan to add baseboard heaters, they draw a lot of power, and you’ll need to be sure the existing wiring has the capacity to run them.

One area of caution for winter viewings: If outside improvements such as docks, decks and building features such as the roof are obscured by snow, you should be prepared to clear them if possible, and/or add an appropriate condition to your offer to assure that they are in serviceable condition.

The best news about viewing a recreational property in winter is that there are usually less buyers on the scene to compete with your offer. So don’t sit back and wait for summer to roll around again! Ask me how to turn the winter season into your buying advantage.

Are U.S. properties a good investment for Canadians?

Jordan Epstein — Tue, 08 Feb 2011 15:07:00 GMT

There’s been a lot of media attention about the U.S. real estate market recently, leaving some Canadians uncertain about buying vacation or retirement property south of the border. While every transaction is different, Canadians should be aware that overall prospects for long-term appreciation in U.S. property values are good, provided you’re prepared to stay with the home for a while. In today’s challenging market, this is generally not a good time for ‘quick flip’ strategies.

Some markets in the U.S. have experienced significant depreciation in home values in last few years. This market adjustment – combined with a strong Canadian dollar at near, or even surpassing, par with the U.S. dollar – have resulted in prices not seen by Canadian homebuyers in many years.

‘Snowbird’ destinations such as Florida or Arizona represent huge markets, so every type of property, house style and price range is available to choose from. There are numerous examples of 3-bedroom single family homes in sunshine destinations selling at close to $100,000. Here in Canada, people are paying 3 times that for a summer cottage.
Unlike the Canadian market, foreclosures are readily available in many U.S. markets. Foreclosures can offer great prices, but buyers should be cautious about these properties. Sales are typically ‘as is’ and not warranted against hidden defects and sometimes such homes have not been well maintained. Also, since property values have declined significantly in some markets, the fact that a property is a foreclosure does not necessarily translate into a below market price.

Under the current market conditions, it’s very important to rely on the services of local real estate professional – Coldwell Banker has close to 100,000 throughout the U.S. and Canada.

Why not talk to me, your local Coldwell Banker professional about buying foreign property. I can put you in touch with an experienced realtor who can work with you to find a home that fits all your personal needs.

Jordan Epstein

jepstein@terrequity.com

http://www.epsteinrealestate.com

416 495 2208

Western Canada home prices outpace surprisingly affordable Ontario

Jordan Epstein — Sat, 30 Oct 2010 15:21:00 GMT

When it comes to moving up to a bigger home, Western Canada continues to be a price leader, while Ontario offers a range of surprisingly affordable four-bedroom, two-bath homes. Those are just two of the findings of a new study released by Coldwell Banker, the Home Listing Report (HLR), a snapshot survey of four-bedroom, two-bathroom home – the size of home many buyers would aspire to own. The survey studied listings in 320 markets across North America, including 30 Canadian markets.

Here are some highlights of the recent study’s findings:

Western Canada in price forefront: Of the Canadian markets included in the report, Western Canada continues to be a price leader. In British Columbia, the average price of a four-bedroom, two-bathroom listing in Kelowna and Burnaby reached $916,697 and $705,746 CDN respectively.

Fort McMurray outpaces other Alberta leaders: A booming job market in Fort McMurray kept four-bedroom, two-bathroom homes at the forefront of Alberta prices at $593,390 CDN, outdistancing Calgary* and Edmonton at $551,920 CDN and $452,628 CDN respectively.

Vancouver in North American top ten: Established Canadian home price leader, Vancouver* reported an average price of $1,324,000 CDN ($1,289,179 U.S.) for a four-bedroom, two-bath ‘aspirational’ home. Vancouver was the only Canadian city to make the North American top ten rankings.

Diverse housing options in Ontario: In Ontario, four-bedroom, two-bathroom homes showed surprisingly affordable pricing in some of the province’s more densely populated urban centers such as Toronto ($495,398 CDN ) and Mississauga ($393,691 CDN), where condo units provide an appealing option for buyers wanting a four-bedroom home in the city, without the price of a large lot.

Canada’s most affordable seeks out-of-market buyers: The most affordable studied market in Canada for a four-bedroom, two-bathroom home was Windsor, Ontario ($158,242 CDN), across the river from North America’s most affordable market, Detroit, MI. Both markets have been affected by the recent auto industry woes. Windsor presents an affordable alternative for out-of-market buyers, such as retirees and individuals who have the freedom to work from home. The market combines one of Canada’s warmer climates, proximity to Ontario’s fruit land and wine country, and features such as cross-border shopping.

Affordable U.S. property a ‘bargain’ for Canadians: Canadians thinking of buying property in the U.S. will be pleased to find a large number of markets where homeownership is at very affordable levels. In total, there are 85 U.S. markets in the HLR with average reported listing prices less than $200,000 US for a four-bedroom, two-bathroom home. There are 183 U.S. markets that are less than $300,000 US. These markets include many ‘sunshine state’ destinations sought after by Canadian ‘snowbirds’.

For further information about ‘aspirational’ home pricing in Canada, or your local market, visit contact your Jordan Epstein at jepstein@terrequity.com.

Italian Restaurant For Sale in Davisville/Mount Pleasant

Jordan Epstein — Fri, 29 Oct 2010 15:51:00 GMT

Great Family Restaurant Opportunity

• 1,175 sq. ft., 3 bath commercial - MLS®$215,000

Davisville/Mount Pleasant, Toronto - Fantastic Italian Restaurant/Bar Business In A Prime Mt.Pleasant Location. Established Over 30 Years. Great Client Loyalty. Besides Regular Food/Bar Services, Many Regular Catering Contracts. Approximately 500K In Sales. Good Return On Investment.
Extras:

Net Rent With Tmi And Hst 5476.08/Month. Newer Rooftop A/C Unit Is Owned. All Equipment In Excellent Condition. Very Well Managed, Clean Establishment. Full Dry Basement Houses Three Washrooms, Storage Area.

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Luxury Condos soar to new heights!!!

Jordan Epstein — Fri, 03 Sep 2010 22:49:00 GMT

Condominiums have long been perceived in the real estate market as one of the more affordable alternatives to home ownership. And while that is still true in many cases, in recent years, there has also been a noticeable increase in luxury Condos in major Canadian urban centres. With some of these high end condos, it seems that the sky is the limit when it comes to luxurious appointments and upscale amenities.

The growing trend toward luxury market condos makes perfect sense when you consider the demographics in play. The Canadian market has seen increasing numbers of ‘empty nesters’ cashing out of their larger homes and moving back to the city to enjoy the condo lifestyle. These affluent buyers don’t want to compromise on the luxurious appointments they were accustomed to in their previous home. Condos aren’t just for first time buyers wanting to get their foot on the first rung of the property ladder any more. These luxury condo buyers are looking for homes that can be 3,000 or even 4,000 square feet or more. Luxury condo sales in major markets show such features as designer interiors, fireplaces, private elevators, a chandelier in the bathroom, his and her private dressing rooms, wine cellars and much more. Some of the more upscale condos sold in recent months boast up to 5 bathrooms and 3 parking spots, and offer impressive amenities such as a massage room and dining room with catering.

So if you’re planning a luxury home sometime in your future, or just dreaming about what could be, don’t rule out the freedom and independence of the condo lifestyle just because you want the features that would only be found in a luxury home.

Today, you can have the best of both worlds. Want to know more about the condo market and pricing within your own community? Contact me anytime !

Jordan Epstein

jepstein@terrequity.com

416.495.2208

Prices still edge up, despite July’s slower sales pace

Jordan Epstein — Sun, 22 Aug 2010 21:35:00 GMT

What’s new on the national housing scene? According to the Canadian Real Estate Association (CREA), the number of MLS® transactions continued to trend downward in July, but inventory of homes for sale remains tight and sale prices are inching upward. As expected, the decline in the number of July transactions was almost entirely the result of fewer sales in BC and Ontario. A slowdown in demand in these two provinces had been widely anticipated, as many home purchases were pushed through in the first half of the year to avoid the new HST Tax which took effect on July 1st.
According to CREA, seasonally adjusted home sales activity via the MLS® was down 6.8% on a month-over-month basis in July. However, this national decline in the number of transactions was smaller than the previous two months. Declines in British Columbia (-14%) and Ontario (-8%) accounted for 85% of July's decline in transactions.
While the number of national sales is below our previous record-breaking totals, the Canadian market remains tight in terms of supply. Fewer new listings are coming on the market. In fact, CREA reports that the number of new residential listings declined by 7.2% in July 2010 compared to the previous month. This is the third consecutive month-over-month decrease, and the steepest in more than a decade. New listings have fallen 17.5% since April's peak. This declining trend in new listings will help to support strong home prices.
In fact, CREA reports that the national average MLS price edged another 1% higher in July to surpass $330,350, even in a month when the most expensive markets of BC and Ontario were experiencing fewer sales.
Of course, these are just national trends. Real estate market conditions and sales data can vary from neighbourhood to neighbourhood and sometimes even on the same street. For a more detailed picture of what’s going on in your own community, contact me anytime at jepstein@terrequity.com or at http://www.epsteinrealestate.com

Sales pace cools, but prices still rising

Jordan Epstein — Mon, 09 Aug 2010 18:32:00 GMT

As predicted in previous industry forecasts, the sizzling sales pace of Canada’s housing market has begun to cool and move at a more moderate pace. However, according to recent statistics released by the Canadian Real Estate Association (CREA), prices are continuing their upward climb. As expected, there was a decline in the number of transactions in most markets across the country in June, due in part to a modest rise in interest rates, and the coming HST in Ontario and BC. Although sales declines were greatest in Toronto and Calgary, it should be remembered that these declines are being compared against record or near record performances in these markets.

Although the pace of sales has cooled, the supply of homes for sale remains tight. According to CREA, the total inventory of listings now represents 5.7 months on the market. New listings are in decline, which is keeping the market balanced. The only thing still on the upswing is the average price for homes listed on the MLS, which is now approaching $343,000 nationally. As the market continues to moderate, buyers are expected to take their time reviewing properties and weighing their options. CREA forecasts that this trend will take some of the upward pressure off prices moving forward. While the days of double-digit price increases may be winding down, real estate remains a solid investment, with carrying costs still at very affordable levels due to relatively low interest rates.

Moving forward, CREA predicts that as the Canadian market continues to moderate, a recovering economy and job market will provide support for housing activity and prices. Of course, this is just a national overview. Market conditions can vary dramatically between communities, and sometimes even on the same stree

Five Tips for Single Home Buyers

Jordan Epstein — Tue, 06 Jul 2010 21:08:00 GMT

Canada’s housing environment has more single home buyers entering the market than ever before. With inventory levels improving in many markets, and interest rates near record lows many people across the country who may have never considered buying a home in the past are recognizing that a mortgage payment on a house can actually be the same or less than what they would spend on renting.

For most Canadians, buying a home is the most significant financial investment they will ever make, and perhaps even more so for singles who are making the transition on their own. With that in mind, Coldwell Banker has come up with five tips to help single home buyers navigate the home buying process:

Keep an eye on the future. A family of one is much more likely to upsize rather than downsize. Some day someone who is single may add a significant other to their family and possibly even children. Though additional space may not be needed immediately, it’s important to consider potential future plans for a home. Keep in mind that there is no such thing as the "perfect" house. Instead, determine what is essential – number of bedrooms, approximate square footage, neighbourhood, etc. And when you do move up, your first home can provide you with equity to purchase your next home or it can be kept as an investment.

Get pre-approved for a mortgage. A pre-approval will let single home buyers know where they stand financially while informing the mortgage company that they are ready to buy. Additionally, this step will demonstrate to everyone involved in the purchase that the home buyer is serious and well qualified.

Location, location, location. The golden rule of real estate applies to single home buyers as well. Factors such as proximity to work, family and nightlife often play a role in the decision of where to purchase a home. Speaking with a Coldwell Banker sales representative can help narrow the search to find the location that best suits a home buyer’s needs and lifestyle.

Plan ahead for maintenance fees. Owning a home is a rewarding experience. However, being the only person with a set of house keys also means being the only person responsible for maintenance. A leaky faucet and unkempt lawn won’t take care of themselves, so be sure to include future repairs and maintenance in the budget. Also keep in mind that certain properties such as condominiums and townhomes require less exterior maintenance and might be a good option for those single home buyers who find the idea of maintaining a yard a bit daunting.
Consider resale value and longevity. Purchasing a home has historically been a great long-term investment. However, there are many reasons single home buyers may need to move, such as relocating for a job or a lifestyle change. Therefore, it is important to think about the length of time that the home will be owned and also consider the resale value of prospective properties during the search. Your local Coldwell Banker real estate representative can share the average home price of properties in the area, how long each property has been on the market and what features increase a home’s value and appeal.

Jordan Epstein , Sales Representative

jepstein@terrequity.com

416 417 7579

Avoid these pitfalls when buying home

Jordan Epstein — Wed, 09 Jun 2010 17:52:00 GMT

Buying a home can be a very complex, and sometimes emotional experience. Some buyers find themselves getting caught up in the emotional side, and let their heart take over their head. Here are a few tips from Coldwell Banker on how would-be buyers can stay grounded and avoid some common pitfalls during the home buying process:

DON’T fall in love with the first house or neighbourhood you see. That Victorian home with the white-picket fence may win your heart at first glance, but don’t fall in love too fast. You need to keep an open mind to make sure you find the right fit for all your needs. At the end of your search, it may turn out that the riverfront ranch that’s closer for your commute is a better bet all-around.

DON’T buy beyond what you can afford. It’s easy to fall into that all-you-can-eat attitude, especially if this is your first home purchase. You “want it all” when it comes to size, amenities, location, etc. But remember that your eyes may have a larger appetite than your wallet. Make sure that the down payment, closing costs, monthly expenses and taxes are truly within your income and savings range before you sign on the dotted line. Your Coldwell Banker sales representative can help you ‘crunch the numbers’ ahead of time, to help you determine what you can comfortably afford.

DON’T treat your home the way you treat your stock portfolio. It’s unrealistic and unwise to expect your housing investment will always appreciate as quickly as high-risk stocks or bonds. Buying for lifestyle reasons, as opposed to trying to turn a quick profit, will help ensure that you are viewing home purchasing and ownership in the right context.

DON’T try to time the market. By the time most consumers sense a major real estate or financial market shift, the tables have typically already turned. Instead of waiting for a slim and unreliable window of time – and potentially missing out on the perfect home – buyers should focus on their own lifestyles and buy when the time is truly right for them.

DON’T jump into an overly tempting or confusing mortgage. When it comes to down payments and mortgages, if it sounds too good to be true, it probably is, especially if financing outside of major financial institutions. Be sure to read carefully through every aspect of the proposed agreements to fully understand your end of the bargain. Consider getting independent financial advice if you’re unsure of your options. For instance, what seems like an attractive rate now may increase dramatically a few years down the road.

DON’T underestimate the value of a trustworthy real estate agent’s on-the-ground expertise. While being a savvy buyer and doing one’s homework will help on the road to homeownership, a local expert with years of negotiating experience is invaluable when it comes to scouting out the perfect home – and closing the deal.

Want more tips on how to make a smart and savvy real estate purchase? Contact me at jepstein@terrequity.com or at 416 495 2208

Tips for First-Time Home Buyers

Jordan Epstein — Mon, 07 Jun 2010 20:26:00 GMT

For most people, buying a home is the most significant investment they will ever make. Today, with an abundance of homes for sale and interest rates at near historic lows, it may also be the smartest time to buy a home. While the prospect of owning a home is an exciting one, it can often times seem overwhelming, especially for those who are new to the real estate process. With that in mind, Coldwell Banker® has come up with some tips for first-time buyers dreaming of homeownership.

Utilize free online tools to arm you with as much knowledge as possible. For example, the Coldwell Banker YouTube channel, On Location, offers consumers a new way to search for and interact with real estate information and listings. The channel showcases the power of video to bring real estate more vividly to life – offering behind-the-scenes looks at towns and neighbourhoods, smart tips and timely news on real estate topics, and video listings of homes for sale. Additionally, the Coldwell Banker Home Price Comparison Index available at http://hpci.coldwellbanker.com offers buyers a way to compare average housing costs in more than 325 U.S. and Canadian markets.

Take time to access and closely review your credit score. A sound financial track record and solid credit score can help lock in a loan and lower interest rates. Checking your records with a fine-tooth comb in advance will also ensure that you catch any errors ahead of time, as well as help you better understand how lenders may perceive you.

Explore mortgage pre-approval. A pre-approval will let home buyers know where they fall financially while informing the mortgage company that they are ready to buy. Additionally, getting this early go-ahead will help others involved with your purchase know that you are serious about home ownership – and well-qualified.

Line up your “all-star” team of professionals before game day. A team of experienced professionals is essential to making the home buying process simple and seamless. Start by interviewing and selecting an agent who you “connect” with. That agent may also be able to help you indentify suitable lawyers, mortgage lenders, home inspectors and others who play a role in the process. 
Anticipate your future needs and buy for lifestyle. Try to anticipate how long you’ll live in your next home and plan for major lifestyle changes when possible. What may make a perfect starter home for a couple might not work as well when children come into the picture. Remember, people move for lifestyle reasons and your first home will likely not be your last.

Hone in on your housing priorities. Your ideal home may have a porch, a pool and five full baths. But before you start looking, make sure to separate your “must-haves” from your “nice to haves,” so you know where you can compromise to meet your budget.

Know your options for mortgage interest

Jordan Epstein — Mon, 07 Jun 2010 18:36:00 GMT

With the Canadian resale housing market booming, and indications that the Bank of Canada will increase interest rates on June 1st, there’s been a lot of attention lately regarding the various options available for mortgage loans. Whether you’re applying for a new mortgage, or thinking about refinancing before the predicted rate increases hit, it’s important that you know your options so you can make an informed decision.

When you choose a mortgage, you have to decide whether you want the interest rate to be fixed, variable or adjustable. There’s no one right choice. Each of these three options offers various advantages. Your task is to choose the one that’s right for your specific needs.
According to the Canada Mortgage and Housing Corporation (CMHC):
A fixed rate mortgage is locked-in for the entire term of the mortgage.

With a variable rate, the payments remain the same each month, but the interest rate fluctuates based on market conditions.
For adjustable rate mortgages, both the interest rate and the mortgage payments vary based on market conditions.
When making your mortgage choice, be sure to evaluate the impact of an increasing interest rate on your monthly payment.

Want to know more about mortgage options and which one is right for you? Contact me to learn more. When you’re ready to finance, I can also help you connect with an experienced lender to assist you. Remember, this could be your best time to explore your options, before any anticipated rate increases kick in.

Jordan Epstein, Sales Representative

416 495 2208

jepstein@terrequity.com

Price Reduced on 705-18 Concorde place in Wynford

Jordan Epstein — Thu, 24 Sep 2009 02:16:00 GMT

Wynford, Toronto - Announcing a price reduction on 705-18 Concorde place, a 1,245 sq. ft., 4 bath, 2 bdrm apartment. Now MLS® $364,900 - Priced to Sell!!!.

Property information

Apartment For Sale in Yonge/Sheppard

Jordan Epstein — Wed, 05 Aug 2009 16:55:00 GMT

• 1 bath, 2 bdrm apartment - MLS® $309,900

Yonge/Sheppard, North York - Rare Corner Unit Penthouse With Unobstructed Views! This Luxury Menkes Suite Boasts 9' Ceilings, Split Bedroom Layout For Privacy, Large Open Balcony, And Direct Subway Access In A Building With Great Amenities And An Unparalleled Yonge/Sheppard Location! Just A Stones Throw Away From Shopping. Restaurants, Parks And Entertainment! This Suite Is In Pristine Condition! Just Move In And Enjoy!
Extras: Stainless Steel (Fridge,Stove,B/I Dw)Washer/Dryer, Window Coverings,All Elf's,Cabinetry And Frosted Glass Shelving In Bath.Indoor Pool,Jacuzzi,Sauna,Exercise Room,Billiards,Party Room,Visitor Parking,24Hr.Concierge,Parking And Locker Incl.!

Property information

Canadian real estate market on the upswing

Jordan Epstein — Sun, 26 Jul 2009 01:45:00 GMT

Despite a slow start to the year, the Canadian market has certainly bounced back since the low of last January. Resale housing in particular is again surging forward, and in May reached new heights. According to the Canadian Real Estate Association (CREA), strengthening consumer confidence, low interest rates, and improved affordability are all drawing buyers to the housing market.

In fact, CREA reports that Canada’s resale housing market activity has returned to pre-recession levels. Actual home sales via the Multiple Listing Service® (MLS®) of Canadian real estate boards totaled almost 50,000 units in May 2009.

The national MLS® residential average sale price in May 2009 neared $320,000, and reached the highest monthly level on record. In just four short months, the national MLS® residential average price recovered 16.4% from January’s low.

According to CREA, the supply of new listings coming onto the MLS® continued to decelerate in May, to just over 65,000 units, the lowest level since December 2005. This tightening supply will keep upward pressure on home values.

In the meantime, Canadian consumers are starting to feel positive about the real estate market again. According to statistics compiled by the Conference Board of Canada, national consumer confidence improved for the second consecutive quarter in the second quarter of 2009, and the balance of sentiment about making major purchases, such as a home, continues to improve.

Interestingly, new construction doesn’t reflect the current demand. Canada Mortgage and Housing Corporation (CMHC) reports that new housing starts in 2009 have fallen sharply from the record pace of recent years. The annual rate of new residential construction was 128,400 units in May, a marked decline from over 200,000 housing starts in each of the last seven consecutive years. Housing starts are expected to improve throughout 2009 and over the next several years to gradually become more closely aligned to demographic demand, which is currently estimated at about 175,000 units per year. In the meantime, there will be less inventory for homebuyers to choose from.

So, what’s the bottom line? Increased affordability due to historically low interest rates, government housing stimulus programs and rising consumer confidence have all contributed to the demand for homes. Meanwhile, supply is dwindling, due to a decreasing number of resale homes coming on the market, strong sales activity, and a marked decrease in new home construction. Continued demand and reducing supply will place more upward pressure on Canadian house prices.

Now that you know the highlights of the national picture, want to know more about what’s happening in your own community? Contact me, your local Coldwell Banker® real estate representative and get the benefit of some expert advice.

First time buyers want ‘turnkey’ ready homes, not ‘fixer uppers’

Jordan Epstein — Sun, 26 Jul 2009 01:38:00 GMT

As a home seller, you may be thinking that a ‘fixer-upper’ property would appeal to most first time buyers trying to put their first step on the property ladder. However, according to the results of a recent Coldwell Banker® survey on the preferences of first-time buyers, you’d better think again!

Coldwell Banker recently conducted a survey of real estate brokers and sales professionals across Canada and the U.S. to determine the preferences of first time buyers. The survey findings clearly show that First Time Buyers want a ‘turn key’ property where they can simply move in and start to enjoy living in their new home. These individuals have typically put the majority of their financial power into the down payment. They don’t have large reserves of cash available to start putting more money back into the property on major upgrades and renovations.

In addition, first time buyers are typically just starting out in their career and --especially in the case of single buyers -- have little free time available for house repairs. Bottom line? The less there is to do on your property in the way of repairs or updates, the more appealing it’s going to be to those buyers. In most cases, it’s well worth the investment to do the necessary repairs and finishing before putting your home on the market.

Of course, if you’d like to discuss how any planned repair, upgrade or renovation may affect the potential resale value of your home, your first step should be contacting me, your local Coldwell Banker® sales representative. They’re just a phone call away and always ready to talk real estate!

Jordan Epstein

416.495.2208

jepstein@terrequity.com

http://www.epsteinrealestate.com

A smart real estate buy can help with college expenses

Jordan Epstein — Sun, 26 Jul 2009 01:33:00 GMT

It’s already July and another school year is approaching. Many Canadians with a son or daughter who will be going away to college this fall are already thinking about all the expenses this will involve. There may not be much you can do about the high cost of tuition, books or travel, but there’s one major college expense that you may be able to turn to your advantage. Rather than paying rent at a student residence for three or four years, why not consider buying a property and turning that expense into a source of income? If you buy a property near the campus, you could rent rooms to other students and your child could potentially live there rent free. With homes for sale at very attractive prices, and financing rates at near historic lows, it’s a great time to invest in real estate. If you buy smart, you may be able to recover the cost of your child’s housing expense. You might even be able to generate enough positive revenue to offset some of the other expenses of a college education. Best of all, if house prices go higher in a few years – and industry forecasts say that they will – you could potentially realize a profit on the equity you have built up in the property.

If you’re interested in exploring this option, l can counsel you on what to look for and what to avoid. Through my connections in the financial sector, I can even help you pre-qualify for a mortgage, so you’ll know in advance exactly how much house you can afford. And when you’re ready to start looking, I can personally show you properties near at hand, or if you’re looking for a property out of town, put you in touch with an experienced real estate professional who’ll show you suitable properties in your target area.

Why not take advantage of this great market and use it to help offset the high cost of a college education? Call your local Coldwell Banker representative and starting talking real estate. You’ll be glad you called me first!

Jordan Epstein

416 495.2208

jepstein@terrequity.com

http://www.epsteinrealestate.com

Knowing the first-time buyer

Jordan Epstein — Sun, 24 May 2009 02:51:00 GMT

In today’s competitive real estate market, more and more sellers are looking to target the increasingly important consumer group of the first-time buyer. The first step in reaching this target group is in knowing who this customer is, and then understanding their specialized wants and needs.

Just who is the first time buyer in terms of age, income, marital status, house price range? There’s no one right answer to that question, especially these days. First time buyers come from all ages and all walks of life. Also, their demographic profile can vary dramatically from market to market, and even between different communities in the same major market area. However, there are some interesting trends in the first time buyer demographics:

· As home prices rose, it resulted in young people staying at home with their parents longer in order to save the necessary money for a down payment. Not surprisingly then, the age of first time buyers has risen in recent years.

· There’s been a major shift in first time buyers in terms of marital status. Ten years ago, the vast majority were young married couples starting out their life together, with a hope for a growing family. Today, while couples still represent the majority, we’re also seeing a far greater percentage of young professionals, especially single women, entering the home buying market. These career-oriented people no longer want to wait for marriage before taking their first step on the property ladder. They want to build equity and achieve the dream of home ownership without waiting for the right life partner to come along. This group is a major force in low upkeep urban housing that is seen in the condo market.

· Canada enjoys a very strong positive in-migration population, and these individuals will continue to fuel the first time buyer market.

One trend that we’re now starting to see is an increase in the percentage of first time buyers in the market. With the escalating prices in recent years, some of these individuals were previously ‘locked out’ of the housing market. Now with adjusting prices, historically low interest rates, and help from government initiatives such as the recent increase in the Home Buyers Plan withdrawal plan from $20,000 to $25,000, have resulted in some of the most affordable housing seen in most markets in years. This is bringing a new buyer back into the market, as they are now seeing homeownership come back within their reach.

Want to know more about the first-time buyers market, and the special incentives that are now available to attract and win these buyers? Contact me your local Coldwell Banker® real estate representative to learn more.

jepstein@terrequity.com

416 495 2208

Signs for optimism as spring real estate market shapes up

Jordan Epstein — Sun, 17 May 2009 16:33:00 GMT

Real estate professionals across the country are feeling optimistic about the positive signs they’re seeing in the market this spring. Existing MLS® home sales activity increased for the second month in a row in March 2009, according to statistics released by The Canadian Real Estate Association (CREA). The number of new listings also continued trending lower in March. This is an important statistic, since the lower supply of listings coming onto the market will continue to keep the demand up for active listings.

Over 31,000 homes traded hands nationally via the MLS® in March 2009. This is an increase of 7% from the previous month, and builds on the 10.3% activity gain in February. The largest sales gains were in BC and Ontario. The number of transactions in March 2009 stands 18% above levels reported in January 2009. It’s a clear indication that buyers are seeing value in today’s market, and are taking advantage of this great opportunity.

Looking ahead, there has been a rapid drop in new construction, which should also help to support the demand for resale properties in the months ahead. The seasonally adjusted annual rate of housing starts decreased to 117,400 units in April from 146,500 units in March, according to Canada Mortgage and Housing Corporation (CMHC). According to CMHC's Market Analysis Centre, most of the decline has occurred in the condominium segment in Ontario. While some improvement is expected as the year progresses, new home construction is not expected to approach the pace set over the past seven years, which exceeded 200,000 units per year.

This decline in new home construction combined with a drop in new listings coming onto the market should combine to keep up demand for resale properties. As the balance of supply to demand continues has firmed up, and demand for resale properties continues, this also helps support prices and maintain home values.

Want to know more about what’s happening in real estate in your local community? Feel free to contact me anytime and find out what great opportunities are available in today’s market.

http://www.epsteinrealestate.com

jepstein@terrequity.com

416 495 2208

Jordan Epstein

What’s selling and what’s not?

Jordan Epstein — Tue, 28 Apr 2009 14:47:00 GMT

In today’s challenging real estate market, people are full of questions about the real estate market. As your local Coldwell Banker sales representative will tell you, one of the first questions most consumers ask is ‘What’s selling these days?’

If you’re thinking of selling, you’ll be pleased to know that homes are selling when they’re well-prepared for sale and priced right. The reason is because people buy and sell homes for lifestyle reasons. Births, marriages, new jobs, retirement and other demographic factors all drive the market, even in times of economic downturn. However, in today’s increasingly competitive market, you need the advice of a full-service professional, who knows market conditions and a home’s competition and can use this critical information in readying your home for sale.

In today’s market, successful sellers are those who have become more realistic in setting their asking price. They understand that a home isn’t a winning lottery ticket; it’s a place to raise a family and build equity over time. Your local Coldwell Banker representative can give you the straight facts on what comparable homes are selling for right now in your market. They can show you actual sales activity so you know what prices the market will bear. They can also talk to you about time on market, and let you see for yourself what’s not moving. They can also answer the all-important question of why it’s not moving.

Make no mistake, prospective buyers are out there. They’re recognizing that there is tremendous value in today’s market as lowered mortgage rates and adjusting prices have resulted in some of the best home affordability we’ve seen in many years. It’s just a matter of knowing how to create a pricing and marketing strategy that will maximize your chances to attract buyers and win offers.

If you’re thinking of selling, why not give me a call? Together, you can develop a strategy to get you a great result. Then the next time someone asks what’s selling in your neighbourhood, the answer will be – your house!

http://www.epsteinrealestate.com

Why it’s smart time to buy

Jordan Epstein — Mon, 27 Apr 2009 03:41:00 GMT

As your local Coldwell Banker® real estate professional can tell you, there’s a lot that’s good about today’s housing market. And it’s all because of the three cornerstones known in the industry as I.I.P. – Inventory, Interest rates and Price.

In most markets across Canada, these three fundamentals are creating some of the most affordable housing seen in many years. The inventory of listings is strong, giving buyers a lot to choose from. That increases the likelihood of finding the home that’s just right for you and your family. The Bank of Canada reduced interest rates again in March, and mortgage rates are now sitting at near historic lows. At the same time, home prices have adjusted to more affordable levels in most major markets across Canada.

Those three fundamentals of I.I.P. are having an impact in almost every local market. Without question, there will be many great opportunities that are ready and waiting for a savvy home buyer to take advantage of right now. In February, CREA reported an 8.6% increase in transactions over the previous month, the first monthly increase in national sales activity since September 2008. February activity also surpassed levels reported in November and December of 2008. This is a clear indication that buyers are seeing value and are coming back into the market.

Consumers need to focus on these strong fundamentals and gain confidence in housing. Some buyers still think they can time the market and are ‘sitting on the fence’ waiting for exactly the right time. This can be a costly mistake. While you’re sitting back with a ‘wait and see’ approach, the right house at the right price and the right terms may be snapped up by another buyer who recognizes the opportunity. Reading isolated news headlines is not a great way to gain balanced information about the housing market. Such news stories often focus on very short-term events. They don’t tell the ‘big picture’ of how the vast majority of Canadian homeowners have achieved solid appreciation in value within just the last few years. To make an informed decision, you need to know a great deal more information that’s specific to your target neighbourhood. Your local Coldwell Banker sales representative can tell you the whole story about your community, including such issues as historical appreciation in value, current inventory of listings, future development plans and time on market.

Why not talk to me, and get a balanced perspective on some of the opportunities in today’s market. You have nothing to lose, and it just may be the most important call you’ll ever make!

Jordan Epstein

Office:416 495 2208

Http://www.epsteinrealestate.com

jepstein@terrequity.com

Coldwell Banker Terrequity Realty, Brokerage

Magazine Featured Loft - King West - Reduced $300k!!!

Jordan Epstein — Tue, 14 Apr 2009 20:00:00 GMT

Magazine Featured Loft!!!

• 2 bath, 2 bdrm apartment - MLS® $1,188,888 - REDUCED 300K!!!

King West, Toronto - Best Downtown Toronto Panoramic Views! Corner Unit, Designer Fixtures W/Upgrades Galore. Hardwood Flooring, Limestone Sills, Automated Blinds, 3 Sided Fireplace, Solid Walnut 200 Bottle Wine Cellar, Solid Core Doors, Colombo Italian Hardware, Rainhead Shower, Jacuzzi Tub, Starck Toilets, Custom Formed Exposed Concrete Ceilings, $150K+Kitchen - Poliform Solid Wood Kitchen, Liebherr, Miele, Viking Appliances. Magazine Featured Loft. 600Sf+Se Wrap Around Terrace

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