Bathurst/Centre, Thornhill - The apartment at 910-60 Disera dr has been sold.
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Great *2yrs* NEW Condo
• 710 sq. ft., 1 bath, 1 bdrm apartment - 
MLS® $234,900
Bathurst/Centre, Thornhill - Beautiful 2 years new condo in the heart of prestigious Thornhill. Desirable neighborhood, near the Promenade mall and BRAND NEW retail, including Wal-Mart. Directly on Transit, easy access to the city or York University.
Complete with Under mount sink, Granite countertops, Soaker Tub, Upgraded Flooring and Fixtures. Includes window covering, PARKING for 2 cars!!!! and a locker.
Take advantage of a great space for a low price with LOW MAINTNANCE FEES!!!!
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Many Canadians look upon the New Year as a good time to resolve to improve our condition, or give ourselves a new look, but what about your most important investment? The start of a new year can also be the right time to make a resolution to make your home safer, or more efficient. The good news is, these changes might even save you some money in the process. And what better way to start the year off right?
A good starting point is resolving to make your home more energy efficient. There are several low cost, easy to implement alternatives that can help make a difference in our environment, and your pocketbook. For example, for a very minimal investment in the $50 range, you can buy a thermostat timer. This will allow you to pre-set your thermostat to turn back a few degrees after you go to bed at night, and turn the temperature back up before you get up each morning. If you’re normally out of the house during the day, you’ll gain even more savings and still return to a comfortable environment after work each day. Many gas and heating oil providers, as well as various government bodies offer rebates on the purchase of programmable thermostats and other energy-saving equipment. Make sure you check out a few of their websites to familiarize yourself with the terms of their various offers before you buy.
Lighting is another simple yet effective energy and cost saving device. Timing switches for prompt shut-off of outdoor lights, or lights that are only activated by motion sensor can be very effective. Indoors, dimmer switches and the new longer-lasting energy efficient light bulbs are good money savers too.
Home safety is another important New Year’s resolution for Homeowners. Start off your new year by checking the function of all smoke alarms (and if it’s not wired into the house current, replace the batteries). There should be working smoke alarms installed on every floor of your house and outside all bedroom areas. You should also consider installing a Carbon Monoxide detector and have a furnace inspection each year to be sure it’s running safely and efficiently. You might even want to consider a Home Security system. While it can be a larger investment, you may find that your Home Insurance company will offer you a lower premium if you have a security system, which can help offset the cost.
Perhaps you’re also considering a major home improvement in the New Year. That’s where your local Coldwell Banker® professional can help. They know what improvements appeal most to home buyers and how various projects will impact the resale value of your home. Why not call to find out more and start your New Year off right!
For more information please feel free to contact me anytime via email at jepstein@terrequity.com or by contating me using the contact information on my website www.epsteinrealestate.com
There’s a lot to consider when choosing a mortgage to finance your home and as your Coldwell Banker® real estate professional will tell you, making the right choice can save you thousands of dollars over the life of your loan. Here are some Mortgage ABCs that you should consider, including some key factors in determining how quickly you can pay down your mortgage and at what cost.
A Amortization period – the term, or length, of the actual loan; the shorter the amortization period, the higher the payments, but the faster you pay off the loan.
B Buyer pre-approval – you can be pre-approved for a mortgage before you even start looking for your dream home; this takes away the guesswork of how much you qualify for and strengthens your negotiating position with the seller.
C Conventional or high-ratio –The amount of your down payment determines whether yours is a conventional or high ratio mortgage. High risk loans require that you buy mortgage insurance to protect the lender if you don’t make your payments, so you’ll have to allow for this added expense.
D Down Payment – You’ll need to have money available for a down payment when you ask your lender for a mortgage. The larger the down payment, the smaller the mortgage and the less interest you’ll pay in the long run. The CMHC says down payments generally range from 5 to 25% of the purchase price.
E Equity – The value that’s present in your home; this amount is generally represented by the current market value, less any outstanding loan amounts.
F Frequency – How often you pay your mortgage can have a significant impact on how fast you build equity and retire your loan.
G Government programs – Under certain conditions, first time home buyers can withdraw RSP funds to use as a home down payment; the money can be used without tax penalty if the funds are replaced within a specified time period.
H How repaid – the method of loan repayment can also have a significant impact on what a loan ultimately costs you; open mortgages have better pre-payment privileges, but a closed mortgage may offer a better interest rate.
I Interest rate – The interest rate is of vital importance and you’ll also need to establish whether that interest rate is fixed or variable
There are other factors to consider too, such as refinancing, repayment penalties and more. Why not talk to your local Coldwell Banker real estate professional to discuss some of the many mortgage options available to you? Through their many connections, Coldwell Banker professionals can offer creative financing solutions that you may not have ever considered. Why wait? It could be the best call you’ll ever make!
For more information please feel free to contact me anytime via email at jepstein@terrequity.com or by contating me using the contact information on my website www.epsteinrealestate.com
When you buy a home, there are two very distinct types of mortgage insurance that may come into play – one is Mortgage Loan Insurance and the other is Mortgage Life Insurance. Even the names sound similar, but these two types of coverage have completely different purposes and benefits. Unfortunately, consumers sometimes confuse the two. That confusion can result in the homebuyer not really understanding what they’ve bought or making the wrong choice when deciding on coverage. Either way, you need to know the difference.
Both types of mortgage insurance will typically be raised by your mortgage lender at the time of financing. Mortgage Loan Insurance is for what is considered a high risk loan and this is determined by the amount of your down payment. If you have what is called a high ratio mortgage (less than 20% down payment) and you’re financing through a major Canadian financial institution, you’ll be required by law to take out mortgage loan insurance and you’ll be required to pay the insurance premium. Mortgage insurance protects the lender if you don’t make your payments. It doesn’t protect you, the buyer, but you must pay the premium.
For most people the hardest part of buying a home, especially the first one, is saving the down payment. Many people won’t have 20% of the purchase price to put down. With mortgage loan insurance, buyers can put as little as 5% down. Then, if the borrower defaults (fails to pay) on the mortgage, the lender is paid back by the insurer. With Mortgage Loan Insurance, many buyers who might not otherwise qualify for a loan can still get the financing for their home purchase. This stimulates the Canadian economy, while at the same time protecting our lending institutions and the stability of our overall federal economy.
CMHC (Canada Mortgage and Housing Corporation), the federal government’s housing authority, is a major provider of this type of insurance in Canada. For that reason, Mortgage Loan Insurance is frequently referred to as CMHC insurance. For more information visit the CMHC web site www.cmhc-schl.gc.ca.
The second type of mortgage insurance -- Mortgage Life Insurance – is optional coverage you can elect to buy if you want to ensure that your mortgage will be paid in full if you or a co-owner dies. It is essentially term insurance with coverage that reduces with your mortgage principal. It can be set up as joint coverage for multiple owners, with the benefit falling to the survivor(s) if one owner dies before the mortgage is paid off. Mortgage Life Insurance is offered by a number of carriers and the rates and coverage will vary according to the insurance company offering the coverage and your own personal information.
Your Coldwell Banker® real estate professional can tell you more about mortgages, insurance and the entire home buying process. Why not call today, and take advantage of their helpful advice? You’ll be glad you did!
The demand for cottages has increased over the years, and what was once a relatively low cost alternative for a family getaway has now become a significant financial investment. One way to get good value for your money is to consider buying a cottage in the off season.
All things being equal in terms of lot size and square footage, its features and general state of repair, there are three important factors that will tend to determine a cottage’s value compared with other similar properties. These three factors should be given careful consideration when choosing a cottage:
- its commuting distance from a major urban center
- its proximity/convenience to leisure activities (either waterfront for summer, ski hills in winter or both), and
- its accessibility/ability to be used throughout the year.
A cottage that can be used in winter as well as summer will have the broadest appeal, and usually has more amenities to suit its many usages. That can also translate into a higher asking price. However, a year-round property also tends to offer a better potential to increase in value over time for the same reasons.
If you’re considering a year-round cottage, winter is an ideal time to view the property. It will give you a realistic idea of how accessible the roads are and how long it will take to get there under challenging road conditions. If the roads to the property are not plowed in winter, that may result in the property only being accessible by snowmobile or ATV. That will have a major impact on its selling price and future resale value. 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 just an open fireplace, but few people would find them adequate to meet all the demands of a cold Canadian winter. If there’s no back-up heating system in place -- either electric baseboards or a furnace -- you may 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 cottage wiring has the hydro capacity to handle the demand.
The best news about viewing a cottage in winter is that there are usually fewer buyers around to compete with your offer – especially if the cottage’s primary usage is just as a summer getaway. If the property is water access only, then the seller’s options are seriously limited. The seller may not be looking forward to carrying the expenses until next summer approaches, so an offer now could have a great deal of appeal. This could be just the right time to make your move.
Ask me how to turn the winter season into your buying advantage!
Did you know that on a per capita basis, Canadians are the second highest water consumers in the world? Although we're blessed with more fresh, clean water than any other country on the planet, it's in our best interest to use it wisely. And as many Canadian homeowners will attest, reducing household water use can also lower your utility bills.
Here are some tips to help you be both environmentally friendly and kind to your pocketbook in the process:
- Repair any leaking faucets; even a few drips add up over a whole month
- When running the tap while water heats or cools, capture the excess water for other tasks, such as watering plants
- Don't let tap water run continuously for simple tasks like brushing your teeth and shaving. A short burst is all that's needed to rinse clean.
- Wash only full loads of laundry and wait until the dishwasher is full before setting it to run; choose the minimum cycle necessary to do the job
- Replace your outdated bathroom fixtures with a low-flush toilet and/or a low-flow shower
- Consider growing water-efficient plants and grasses on your property
- Water your lawn in the evening, when most of the moisture will be absorbed by the grass and not evaporated away by direct sunlight
- Use sprinkler timers and rain gauges to promote deep root growth and healthier vegetation versus over-watering your lawn and garden
- Collect downspout water in a rain barrel and use this for watering indoor plants, outdoor planters and your garden
One of the most critical factors in selling a home quickly and for a good final sale price is choosing the right list price. There are several different approaches you can take to determine the right price for your property. Which one you choose depends on what strategy you want to use to attract buyers, and also how much risk you're prepared to take in order to attract offers.
Many homeowners simply want to list their property at the highest price they believe the market can bear. They've seen what a few properties are selling for in their neighbourhood and then add an arbitrary percentage to reflect where they think the market will be by the time they sell in a month or two. This rather optimistic approach is favoured by sellers who want to ‘test the waters' to see just how high the market might go. They think they can try the high end price first and adjust it downwards later if they don't get results. As any Coldwell Banker ® professional can tell you, this strategy can be a costly mistake. Overpricing your listing can have several potentially damaging repercussions. Salespeople will be less likely to recommend it to potential buyers, so you'll get fewer viewings. They may pass it by in favour of other, more competitively priced listings, and in very little time, they'll simply forget about it. Fewer viewers means fewer opportunities for your sales professional to convert those prospects into buyers.
Trying to solve the problem with later reductions in the list price simply doesn't have the same impact as pricing it right the first time. In fact, sometimes the opposite is true. Going through price reductions means your house is on the market for a longer time. And the longer it's on the market, the more suspicious buyers become that something must be wrong. It's human nature. This means you may have to lower your price even further to get action.
The ideal strategy to stimulate buyer interest is to set your initial price either at, or even slightly below market. In fact, in a very high demand area, it may even be preferable to list the most sought-after properties at an under-market price. This is done to encourage the seller's dream scenario – the multiple-offer bidding war.
How do you know what approach is right for you and your property? This is where the experienced Coldwell Banker sales professional proves their value. Your Coldwell Banker salesperson can prepare a comprehensive market analysis to help you arrive at the right list price. Not only will this report show you what comparable homes in the area recently sold for, it will also show you current listings now on the market. This is your direct competition – the properties you're competing against for buyers, so choose your price accordingly. And remember to look closely at those expired listings. This shows you what prices the market will not bear. I can help you make an informed choice that's right for your market.
During the hot days of summer, many Canadians open their energy bill with a sense of dread. While it may be tempting to run your air conditioning at full capacity for weeks on end, you can't do it without paying a price – in more ways than one. High energy consumption is not only a costly proposition for individual homeowners, it also carries a high cost in terms of pollution that's created as we generate power to meet today's high demands.
Here are a few tips to help you beat the heat as you save on your energy bill:
- Prevent direct sunlight from entering your windows, especially on your home's southern exposure, where the most solar heat will enter. This can be done in any number of ways, including shutters, blinds or draperies.
- If you have an outside area that you want to keep sunny for occasional use, consider a retractable awning that will create shade, as you need it.
- Heated swimming pools are a tremendous drain on energy and your pocketbook. If you're planning on installing a pool, take special care to choose the location that will receive the most hours of full sun. If you have a pool, invest in a solar blanket to prevent overnight heat loss.
- Shade trees can have a considerable impact on protecting your home from temperature extremes in both summer and winter. If you're thinking of planting a few trees on your property, consider a fast-growing, broadleaf tree such as poplar, to give you quick results in energy savings.
- Ensure that your attic area is well insulated. A relatively small investment in this fast and easy improvement will save in cooling and heating costs.
- Poorly insulated windows are major culprits in energy loss. When the time comes to replace them, make sure you in invest in a high R-value window.
- Turn your thermostat up a degree or two at bedtime, when the outside temperature begins to cool and you're not active.
- When you're away from home for more than two hours, raise the temperature on your thermostat and lower it again on your return. Even that small concession can save you energy and money.
The little things can add up to big savings over time. Want more ideas on how to reduce your home's operating costs? Or wondering what energy-saving home improvements will have the greatest impact on your home's resale value? Contact your local Coldwell Banker real estate professional and take advantage of their expert advice. You'll be glad you called us first!
In addition, if you have any general questions about buying or selling real estate in Ontario, please contact me at www.epsteinrealestate.com as I'm more than willing to help.
You may have heard that it's the little things that mean a lot, but did you know that it's especially true for selling houses? When you've listed your home for sale and are showing it off to potential buyers, little things can sometimes make a big difference in creating a good impression. Sometimes a ‘quick fix' of some very minor repairs, cleanup or maintenance can make the difference between receiving an offer or sending your prospective buyer on their way.
Here's a checklist of little things that help create a favourable impression:
- Make sure your front walk and steps are swept
- If there are oil spots on the driveway, power-wash them clean
- Ensure that door trim and window sills are clean; if your trim is wood, be sure they're scraped, puttied and repainted as required
- Don't let squeaky hinges turn off buyers; put that oilcan to work!
- Check all doors and cupboards to see that they open and close without sticking and tighten up any loose screws
- Wash the windows and your window sheers too for a bright, fresh look
- Replace washers on any taps that may be dripping
- Indoor house plants and your garden should be culled to remove any trace of dead or damaged foliage and kept watered
- Put fresh caulking around tubs or showers where needed
- Open windows to air out basements or other enclosed areas
Remember, seeing small repairs that have been left undone sends up a ‘red flag' to buyers. They may think that because the simple, surface maintenance has been left undone, there could be bigger – a more expensive – problems lurking beneath the surface. A well maintained property tells the buyer that your home has been cared for, both inside and out!
Want more ideas on how to help your home appeal to prospective buyers? contact me at www.epsteinrealestate.com
Canada 's astonishing real estate market continued in June, as MLS® sales shattered all previous records in the first half of 2007. According to The Canadian Real Estate Association (CREA), resale home sales activity remains on pace to set a new annual record this year. This news is particularly remarkable when you consider that we're surpassing the performance of another record-breaking year. And the forward momentum is expected to continue.
If you're thinking of selling, you'll be glad to know that according to CREA, the major market MLS® residential average price rose 10% year-over-year in the second quarter to set a new record. Average price also set a new monthly record in June, climbing 10.4% year-over-year to $335,180. That's right; the average national house price has now surpassed the one-third of a million dollar mark! The new record is all the more startling when you realize that just two short months ago it made news when the average Canadian house price broke through the $300,000 mark for the very first time.
Of course, that new national average price of over $335,000 encompasses many diverse markets across the country. As you'd expect with a new national record being set, prices have been climbing in local markets all across Canada . Average price reached the highest monthly level on record in Victoria , Regina , Saskatoon , Winnipeg , Kitchener , Ottawa and Halifax . On a quarterly basis, the MLS® residential average price set records in almost all major markets.
If you're a potential buyer, don't be discouraged. It's not too late to act! A recent CREA forecast says that we're not done yet! CREA predicts the annual national average price will rise by 9.5% in 2007 and by an additional 5.5% in 2008. There's still some room to grow and some equity to be built if you buy now.
Do you want to know what homes are selling for in your area? More importantly, would you like to know how to use this information to your best advantage? Then it's a good time to contact me at http://www.epsteinrealestate.com
In addition, if you have any general questions about buying or selling real estate in Ontario, please contact me as I'm more than willing to help.
It looks like a primary factor in determining a home's affordability is about to change. With the economy booming and our strong Canadian dollar moving ever skyward, the Bank of Canada has been warning for some weeks now that their next move could be to raise interest rates. The predicted rate hike materialized on July 10, when the Bank Rate increased by one-quarter of a percentage point to 4.75%. That means Canadian consumers can expect to see similar increases in other lending fees, including mortgage rates, in the near future. What's more, the Bank of Canada has indicated that another rate increase could be coming when rates are next posted on September 5, 2007 , just a few short weeks away. This week's increase is the first jump in the lending rate we've seen since May, 2006, over a year ago. It seems that we may be coming to the end of one of the longest periods of stable interest levels seen in this country since the 1970s.
So, what does all this mean to the Canadian consumer and today's booming real estate market? Well, according to the Canadian Real Estate Association (CREA) house prices will continue to rise this year, but the rate at which house values appreciate may start to slow towards the end of the year. For a time, we can expect that house sales activity will remain brisk even when the inevitable increases in mortgage rates are first announced. This activity will be due in part to the many prospective buyers out there with pre-approved mortgages. They'll be motivated to commit to a purchase so they can take advantage of their rates.
If you're a buyer, and you don't already have a pre-approved mortgage, this would be a good time to arrange one and lock in an attractive rate. Mortgage rates are due for a hike and if that happens, the result will be that housing becomes less affordable. The good news is, you may be able to beat the rate increase – and future increases -- if you act now. With an additional rate hike possible for the first week of September, and prices still on the rise, a few buyers – particularly first-time buyers with no equity behind them – may ultimately be ‘squeezed out' of the market if they don't move quickly. The remaining buyers can expect to be rewarded with more homes to choose from. And there should still be an opportunity to build equity as home prices continue their upward climb.
If you're a seller, you're still in a good position with values expected to continue to appreciate. However, while sales should remain strong for a while yet, you'll eventually start to see the signs of a moderating market. There will tend to be more inventory of listings, fewer buyers and homes will be staying on the market longer. The competition will become fiercer and you'll need to compete more effectively to attract buyers to your listing and win offers on your property.
There's a lot to consider in today's changing real estate market. Trends can vary from market to market, and even within the same neighbourhood. If you'd like some expert advice on competing in your local market, please contact me at http://www.epsteinrealestate.com
In addition, if you have any general questions about buying or selling real estate in Ontario, please contact me as I'm more than willing to help.
Average expenditure in 10 major markets grows says CMHC Survey The real estate market is booming these days, and the latest survey by the Canada Mortgage and Housing Corporation (CMHC) proves that renovations are an equally hot commodity for Canadian consumers. And there's a direct relationship between the two says CMHC. One of the primary reasons that Canadian homeowners renovated their property last year was to either add value or to get the home ready to sell. The real estate market is driving the home renovation market, as Canadians try to capture top dollar for their listings.
This renovation trend has been identified through an extensive survey of Canadian homeowners in major markets across Canada . Approximately 1.5 million households in 10 major centres surveyed indicated they completed renovations last year, costing an average of more than $11,000, according to the recent Renovation and Home Purchase Survey released by Canada Mortgage and Housing Corporation (CMHC). This trend to increased home renovations is also a driving factor for Canada 's overall economy. According to CMHC's Chief Economist, more than $17.3 billion was spent on renovations last year across the 10 major centres surveyed. As well, 46% of homeowners in the 10 centres surveyed said they intend to spend $1,000 or more on renovations this year.
Based on the results of the CMHC survey, it appears that one of the major challenges of a renovation project is planning – and staying within – a realistic budget. Less than half (47%) of households reported that the cost of renovations was in line with what they had budgeted. More than a third of households went over their planned budget for the renovation. Interestingly, of the households that undertook a renovation project, 24% were do-it-yourselfers who hired a contractor for a portion of the work. The majority of households conducting renovations contracted out the work to professionals (40% of respondents) as opposed to those doing the work themselves (34%).
Regardless of who ended up doing the work, the reasons behind it were often the same. The main reason given by households for renovating in 2006 was to update, add value or to prepare to sell the residence (61%). Less than a third (30%) of survey respondents stated that the main reason for renovating was that their home needed repairs. The top three renovations completed last year were:
- remodelling of rooms (34 per cent),
- painting or wallpapering (32 per cent)
- hard surface flooring and wall-to-wall carpeting (32 per cent).
If you'd like some professional advice on what home renovations are likely to give you the best return for your investment, contact your local Coldwell Banker real estate professional. They know what improvements buyers are looking for, and what will help sell your home for a great price and in a short amount of time.
In addition, if you have any general questions about buying or selling real estate in Ontario, please contact me as I'm more than willing to help. http://www.epsteinrealestate.com
- MLS® $649,000
Queen/Woodbine, Toronto - The Amazing 'Beach' - What A Location! Southern Exposure With Lake View. This 3 Bedroom Penthouse Has It All. Very Rare Find - Don't Miss Out. Parking And Locker Included!
Inclusions: Stainless Steel Fridge, Stainless Steel Stove, Stainless Steel Built-In Dishwasher, Washer, Dryer, And Electric Light Fixtures.
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• 1 bath, 1 bdrm apartment - MLS® $385,900
King/Spadina, Downtown - Quad Lofts 2! Outstanding South west Corner Unit.Amazing Unobstructed Lake/City Views,See Airshow & Fireworks From Your Unit. This Stunning 1 Bdrm+Oversized Den Has 10 Ft Ceilings,Concrete Floors Through out.Very Quiet Unit.Large Windows Great Unit For Entertaining.
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