Each month, the Toronto Real Estate Board (TREB) releases a MarketWatch Report. The following statistics were obtained from the April 2012 Report and make comparisons to the same period one year ago. As of April 30, 2012 in York Mills (C12), there were 144 active market listings, an increase of 38.5% from the previous year’s statistics. Unit sales for April (year over year) held steady with only a slight decrease of nearly 3% to 43 units. The total volume sold for the month of April increased by 8.5% while the median price increased by 23.7%. In April, the average number of days on the market for each home was 23 days, compared to 22 days as reported a year ago, with homes selling for 99% of listing price. What do these facts mean to you? Property value in the York Mills (C12) area continues to rise, even as volume increases. Homes continue to sell very fast. It’s time to call Barry for firsthand real estate information and insight into soon-to-be launched homes. Source: Toronto Real Estate Board – MarketWatch April 2012 and 2011

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The Spring market has barely begun and already 12 out of 15 Canadian cities report real estate sales activity up in January and February over the same period last year. More than half of those cities report double-digit increases in months that are usually considered the calm before the storm. The GTA saw a 12 percent jump in sales in the first two months of 2012, and housing prices jumped 10% to an average of $487,254, over the same period in 2011. Bidding wars are already the norm this year in high demand areas like Lytton Park, Riverdale, and The Beaches. Sales have been exceptionally brisk, in fact up over 50%, in luxury properties selling for over $1 million, and half of the homes in the coveted $600K to $900K price range are selling over asking price, and the “busy season” hasn’t officially begun. Record low interest rates are no doubt a driving force in this housing frenzy, with lending rates so low, it is tempting to up-grade, without ever giving thought to paying off the mortgage. We all know that interest rates have bottomed out and have only got one way to go. If you are over 40, you will remember interest rates in the 10% range as normal, and some of you might remember the early 80’s when they went upward of 18%. This is a great time to take advantage of low rates and buy or invest in real estate, but you have to buy smart. The market in the GTA definitely favours vendors, as demand far exceeds the current inventory. I’ve spoken with people who really want to sell their home, but fear they won’t be able to find another place to live in the area. Buyers often feel pressured to snap up whatever they can, before they are squeezed into a bidding war or lose the house completely. I always look forward to the Spring Market, and this year is no exception. 2012 promises to be another interesting year in Toronto Real Estate, perhaps even one for the record books.

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Lucky for us, spring has come early this year in the Greater Toronto Area. Snow and cold can wreak havoc on many aspects of your exterior. If you're planning on selling your house in April or May, that could mean a bit more work to eliminate any dreary winter feelings from your domicile. Consider this to be an expedited 'spring cleaning', staging a youthful vitality for prospective buyers. And if you’re not selling, then the other chief advantage is that all the work will pay off come summertime when every plant is in full bloom. Essentially, what we are discussing here is curb appeal. You want to give people a flavor of what they can expect come June, July and August. And that, of course, begins with the maintenance and repairs of your facades and yard. Starting with the cub itself, early spring is the ideal time to review your landscaping, both in terms of cleanup and flora health as well as any modifications or new plantings. First, do an initial cleanup of fallen leaves and debris, then trim shrubs, prune dead branches, pull out weeds and layer some mulch. We all know that strategically placed foliage conceals the less attractive aspects of your exterior. Consult a professional gardener to figure out what works best for your front and back yards, both in terms of pots, statues and hanging baskets as well as hedges or flower beds. Lastly, be careful what you plant at this stage as many plants won’t grow before the real heat comes in mid-May. From there, we move from the frondescent elements of your exterior to the actual structural components. Starting again from the curb and moving inward, your walkway is the first priority. Do an assessment for any loose stones, sinking interlock sections or patchwork that need fixing. Next, the ‘tooth brushing’ per se. Rent or purchase a power washer and scrub off that blackened layer of soot that has embedded itself on your tiles and cement for a brighter sheen all round. Your windows will also need a polish, both on the outside and the inside. I definitely suggest you hire a professional for this task as getting on a ladder for that second-story glass can be dangerous. While you are assessing your windows, be sure to replace worn weather stripping, which will not only look better but also prevent unwanted air seepage and save you on your energy bill. At this point, evaluate your doors, roof, siding and fences. Is the paint chipping away? Have any of your wood components experienced rot or winter erosion? Special paints can be perfect for covering rust and minor damage. You’ll also want to polish the knobs and hinges on your doors and windows to bring out their luster. Next come the eaves troughs and gutters, which you should flush before any heavy spring rains shove your downspouts full of leaves and debris. The last major issue for the outside deals with your aesthetics. Have you checked your outdoor electronics, light fixtures, doorbells and utilities to see if they are all fully functional? This is a good opportunity to replace your light bulbs with newer, more energy efficient models. Although it is a tad early for use, open the pool. Again, it’s about presentation value, and a covered pool is another unnecessary question mark. And once all the routine maintenance is complete, reassess what colors you are going to add to your yard for the summer. What outdoor furniture are you going to add? Perhaps this is the year for a vegetable garden? For the interior, this can be more of an ongoing process, but it’s crucial that a few key spring cleanup tasks are completed. First are your carpets, which have accrued most of the winter dirt. Have them cleaned. Next, de-clutter your main rooms, which should clue you into all the secluded areas that need vacuuming and dusting. Two spaces that deserve particular attention are your garage and furnace room. Although the garage might be a day or so of your own time to get tidy, leave the furnace room to a professional as they’ll be able to properly replace old filters and junk that a home inspector might discover. And lastly, once the air is slightly warmer, open all your windows to circulate some fresh air throughout your house, making sure to see if the air conditioning is in working order. There’s a lot that requires your attention prior to a spring sale, but if you cover all the basics, then it makes the sales process go that much smoother. If you need additional advice, consult my previous articles on curb appeal and home staging, or give me a call to see how I can help.

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Each month, the Toronto Real Estate Board (TREB) releases a MarketWatch Report. The following statistics were obtained from the March 2012 Report and make comparisons to the same period one year ago. As of March 31, in York Mills (C12), there were 134 active market listings, an increase of 34% from the previous year’s statistics. Unit sales for March (year over year) also increased by 21.3% to 57 units. The total volume sold for the month of March increased by nearly 31.2% while the median price increased by 4.5%. In March, the average number of days on the market for each home was 27 days, compared to 32 days as reported a year ago, with homes selling for 99% of listing price. What do these facts mean to you? Property value and market activity in the York Mills (C12) area continues to increase. Homes are selling faster. It’s time to call Barry for firsthand real estate information and insight into soon-to-be launched homes. Source: Toronto Real Estate Board – MarketWatch March 2012 and 2011

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Each month, the Toronto Real Estate Board (TREB) releases a MarketWatch Report. The following statistics were obtained from the February 2012 Report and make comparisons to the same period one year ago. As of February 29, in York Mills (C12), there were 130 active market listings, an increase of almost 40% from the previous year’s statistics. Unit sales for February (year over year) also increased by 74.1% to 47 units. Likewise, the total volume sold for the month of February increased by nearly 86.4% with the median price increasing by 18.2%. In February, the average number of days on the market for each home was 25 days, compared to 33 days as reported a year ago, with homes selling for 98% of listing price. What do these facts mean to you? February was a very active month for York Mills (C12). Property value in the York Mills (C12) area continues to increase. Homes are selling faster. It’s time to call Barry for firsthand real estate information and insight into soon-to-be launched homes. Source: Toronto Real Estate Board – MarketWatch February 2012 and 2011

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Some of you might think it's trivial to discuss home safety instead of perhaps current market conditions in Toronto, but don’t underestimate the importance of security systems. Just two months ago a personal friend in York Mills (C12) was broken into. The robbers had smashed the window pane on the back entrance, setting off the alarm, and then scurried about the main floor snapping digital pictures of furniture and paintings. These sorts of ‘scout outs’ are one of the techniques robbers might use. In this case, they review the plethora of digital photography to decide if your house is worth a full break-in.    Just as thieves have adapted to the norms of modern day security systems, so too must you evolve to stay ahead of the curve. One of the largest issues is that most the criteria and standards for home security systems are often outdated, especially when juxtaposed to multitude of Toronto’s upscale neighborhoods. Instead, you have to astutely seek out an alarm configuration that fits your particular needs as well as other enhancements to deter potential incidents.    Let’s start with the alarm system itself.  Studies have shown that possessing and routinely activating a multi-layered security system significantly decreases chances of burglary. First and foremost, you must find a service that offers you a quality installation, a clearly defined payment structure, a solid money-back guarantee and 24-hour interactive monitoring.    The best way to go about your research is to cross-reference customer reviews online. As the technology used in the industry is fairly standardized amongst all the chief manufacturers, look more so towards how each company responds to security threats with a fully outlined and proper course of action. Additionally, monitoring services have many veritable safeguards against power failures in your house, but what if the outage occurs at their station? Note if the service in question is insured against such possibilities and also if it is using Underwriters Laboratory (UL) certified equipment.    State-of-the-art systems are now fully capitalizing on the advantages of wireless internet and cell phone connectivity. That is, the days of grounded wires for thieves to sever are over.  What you need is a two-way cellular network-based system with quality backup batteries. This class of home alarm is independent of your internet connection and grounded phone lines to provide virtually no polling interruptions with the monitoring station.    The other contemporary feature worth the extra cost is interactivity, granting you the ability to check-in on your house remotely from the internet or your cell phone.  This is particularly useful for confirming whether a person arrived safely to your house, or if you need to let a serviceperson into your house while you’re at work and you don’t feel comfortable giving them your access code.  Furthermore, you can extend this web-based control to other family members so they can keep an eye out while you are unavailable.   As for the alarm unit itself, its placement within your house is critical along with its additive security and emergency functions. Your all-in-one main keypad, preferably wireless, should be centrally located yet difficult to access and out of sight from any exterior windows.  Hiding your interfaces and all security measures in these ways is very important so robbers can’t anticipate them. The control panel should also contain buttons for police, fire and medical emergencies as well as a two-way voice system to relay information directly to a dispatcher. Lastly, be wary of any fobs which allow you to remotely disable your alarm without any sort of code or password entry as these can leave you open to malicious interceptors.   In terms of detection or trip trigger devices around the house, most of the state-of-the-art gadgets have gone the way of the wireless as well. New body heat and motion sensors can also be programmed to distinguish human from animal.  The optimal place to install these devices is in a partially concealed corner area to maximize their coverage arc. Either place them up high and angle them down on the room or put them close to the floor so they can detect ground movement. You can get trip triggers that detect when a door or window is opened, but you should also consider glass break sensors.   Home protection doesn’t stop with internal measures. Research has shown that most break-ins will occur via the back door or a similarly hidden-from-the-street entrance. Two of the simplest measures to deter potential robbers are to first ensure that your entranceways are well lit and never concealed under darkness, and then, put a security sticker on your doors.    Beyond this, consider augmenting the physical barriers into your house. That is, install metal bars across basement windows or reinforce main floor glass with plastic veneers that resist blunt forces. The next level above this is to investigate camera systems and gates. Keep in mind that although these features are expensive, they will increase your property value.   My last suggestion is to harness the power of your neighbourhood. Just as professional thieves will scout your routines prior to attempting an entry, your neighbours can thwart their attempts by keeping a lookout while you’re away. If you are in the habit of going to the cottage or going skiing over the weekends, tell a neighbour to shovel the snow off your driveway, hold your mail and put your garbage bins away, giving the appearance that you’re still there.  Maybe have them park a car in the driveway.  Be smart about your routines and use your alarm system when you leave for work every day, or any other extended period of time. 

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As rare as these are nowadays, even in fully modernized houses, the unthinkable can still happen. That's why it's important you still take all the necessary precautions to avoid any hazardous accidents. A lot of these suggestions are simple, but let's review them nonetheless, especially given that its winter and all your furnaces, fireplaces and supplemental heaters are operating full bore. One of the most common types of unintentional fires is caused by a simple candle. These are very preventable if you use sturdy, metal or glass candleholders. Never leave a lit candle unattended while it’s over other flammable objects like paper, magazines, tablecloths and carpeting. Make sure to buy quality candles that aren’t too thin or flimsy either. Lastly, consider placing candles inside a glass, so if they do happen to topple over, they’ll be contained by the jar. Another typical fire is that originating from worn-out or overloaded electricity outlets. An electrical system short is much more common in an older house (or one that has been renovated), but that doesn’t rule it out completely for newer dwellings. Starting with thorough home inspection and follow-up check at least once a year, you should inspect all your appliances’ cords and power outlets, looking for any cracked or frayed plugs. If anything isn’t a snug fit or if there’s a slight burning tinge, then consider having the cords replaced. Never overload an outlet with too many extension cords and consult an electrician before tampering with your circuit breaker panel. A third area to take special precautions is the kitchen. It sounds obvious, but stay in the kitchen while cooking. Keeping a clean workspace is very important, as it will give you the room you need to prepare cuisine while keeping flammable materials like papers, dishtowels or bags away from such machines as stovetops (gas or electric), ovens or toasters. An often overlooked kitchen essential is a handy fire extinguisher. Look for one that is rated A, B, C and locate it close to your stove top and oven. Outdoor grills and barbecues can be especially cantankerous if positioned near dry scrubs or in windy areas. It’s critical here that you maintain your barbecuing unit by cleaning it, shielding it from weathering and making sure the gas line or propane tank is fully connected. As well, never bring these outdoor-designed appliances indoors. Outside of the kitchen, attentiveness towards fire prevention is principally vital when it comes to space heaters, fireplaces and furnaces. Space heaters should always be kept in open areas with all flammable materials moved out from within a three-foot radius. Be sure to keep a protective screen in front of your fireplace and take the same radial precautions as with space heaters. Have your fireplaces, chimneys and furnaces inspected regularly so that any malfunctions can be promptly taken care of. If you use your fireplace often, have it cleaned each year to eliminate creosote build up. Much like when cooking, be sure to turn your space heater off or put out the fireplace before leaving the house. Next, you must take heed with certain chemicals, gasoline in particular. Volatile fluids like gasoline can fill a garage full of vapors and should not be stored inside the house. Also note any specific chemicals with cautionary labels. It’s preferable to store all these in containers in an outdoor shed away from your home. Moving on from preventions to more general safety precautions, smoke alarms as you well know are a necessity on every floor and above every bedroom in your house. What you’re looking for here is a mixture of ionization and photoelectric sensors to give you optimal detection. As well, go for battery-powered alarms as they won’t be rendered useless during a power outage. Just be sure to test them regularly. Replacing batteries each New Year makes good common sense. Although in this day and age this might not seem like a very crucial topic, it’s nonetheless better to be safe than sorry. Fire prevention is a definite consideration when purchasing or moving into a new home, and I’m always on hand to offer some more advice specific to your own dwelling.

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Each month, the Toronto Real Estate Board (TREB) releases a MarketWatch Report. The following statistics were obtained from the January 2012 Report and make comparisons to the same period one year ago. As of January 2012, in York Mills (C12), there were 97 active market listings, an increase of 14% from the previous year’s statistics. Unit sales for January (year over year) increased by 30% to 17 units. The total volume sold for the month of January increased by nearly 55% while the median price also increased by 15%. In January, the average number of days on the market for each home was 46 days, compared to 55 days as reported a year ago, with homes selling for 98% of listing price. What do these facts mean to you? Property value in the York Mills (C12) area continues to increase, even with a huge swell in transactions. Homes are selling faster. It’s time to call Barry for firsthand real estate information and insight into soon-to-be launched homes. Source: Toronto Real Estate Board – MarketWatch January 2012 and 2011

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Now that we're officially into the New Year, it's time to take one final look at the fascinating real estate market that was Toronto in 2011. While many major markets in North American continued to stagnate, Toronto's year-over-year results were very optimistic. In fact, the December results capped off the second best year on record under the current Toronto Real Estate Board (TREB) boundaries. Here are the actual year-over-year numbers. For 2011, the average selling price was $465,412, an increase of 8% compared to the average of $431,276 in 2010. Total sales for 2011 amounted to 89,347 – up 4% in comparison to 2010. Even though both these figures are for GTA as a whole and not just for the York Mills (C12) area, they do boast well for the luxury housing niches in Central Toronto. According to TREB’s Senior Manager of Market Analysis, tight market conditions and reduced inventory (dipping by 27% under 2010’s stock in the month of May) were key contributors towards keeping prices higher. As well, low borrowing costs helped keep buyers confident in the face of such things as mortgage risk. Looking back at the monthly figures for the York Mills (C12) area, the general idea of these trends holds true. On the whole, I’ve noticed that the region is growing up and becoming more multicultural. More and more of the older bungalows and 70s style houses have been replaced by far larger and more glamorous dwellings, most of which are taken by families who intend to stay in the neighborhood for a long time. It’s a natural maturation process given that the lot sizes in York Mills are unmatched by other nearby districts. If this continues, it means progressively fewer houses coming on the market and steadily increasing house value. So, will the good times continue for 2012? It’s a tough call, especially given the continued instability of the global economy. Furthermore, many analysts are predicting some sort of correction for the Toronto Condominium Market which has experienced momentous growth over the past decade. Although this is intrinsically linked to the luxury housing market, it’s important to distinguish the primary demographics for both markets. With many of the luxury housing sales already coming from overseas in addition to the already superior investments in home renewal and renovation, I wouldn’t expect any ‘Condominium Blip’ to significantly impact the York Mills region. Have a great New Year everyone! For reference, here are the featured 2011 articles from each month on select real estate topics. February – Energy Efficiency March - Staging April – Curb Appeal May – Moving In and Moving Out June – Home Inspections July – 10 Tips to Get the Most for Your Home August – Your Garage September – Mortgage Brokers October – Moving Insurance November – Zoocasa and Zoopraisals December – Title Insurance

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Each month, the Toronto Real Estate Board (TREB) releases a MarketWatch Report. The following statistics were obtained from the December 2011 Report and make comparisons to the same period one year ago. As of December 31st, in York Mills (C12), there were 105 active market listings, an increase of 28% from the previous year’s statistics. Unit sales for December (year over year) decreased by 15% to 20 units. The total volume sold for the month of December decreased by just over 13% while the median price increased by just over 5%. In December, the average number of days on the market for each home was 43 days, compared to 27 days as reported a year ago, with homes selling for 98% of listing price. What do these facts mean to you? Property value in the York Mills (C12) area continues to increase. It’s time to call Barry for firsthand real estate information and insight into soon-to-be launched homes. Source: Toronto Real Estate Board – MarketWatch December 2011 and 2010

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