Yes, yes … I know that it’s formally known as Canada’s Sugar Beach, no doubt due to the federal government’s hefty infusion of $13 million of the $14.3 million cost. (Yet doesn’t that just smack of the wealthy uncle finally, FINALLY, picking up a cheque and never letting you forget it, if you know what I mean??)

Be that as it may …

Amazing things are happening along Toronto’s East Bayfront. For so many years this was an area remarkable only for its squandered potential. That’s all changing, and this pretty, pretty little beach is an important project for a waterfront in transition.

Pink umbrellas stuck in sugary white sand at the Jarvis Slip. How sweet is that? 

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What?? How can that be? Well, it’s not that Toronto real estate agents don’t want to double-end their deals. Because if the opportunity presents, agents will go for it. And if it’s done correctly (read: in adherence to the Code of Ethics) both the buyer and seller are properly represented. A successful offer is written, accepted and the deal closes.

What Are These
Toronto Buyers Thinking?

So what’s the issue? It’s simple: When speaking with buyers about your listing, chances are pretty good that it isn’t the one for them (for the usual reasons: too much money, too small/too big, too much work, etc.). However, if you’re speaking with buyers who’ve truly bought into the “I’ll only work with the listing agent” mindset, they’re not interested in seeing if you’re able to work effectively for them in the capacity of a buyer’s agent. Because they believe they will do much, much better dealing directly with the listing agent. Which is their choice to make. Sometimes this is crystal clear from the first conversation; sometimes, it takes a few rounds of calls and emails. My preference: crystal clear from the first moment (it just saves so much time!).

I never take this preference personally, as I strongly believe that buyers and sellers should work with whomever they wish. And although my door is always open to these buyers, I’m not sitting beside it having second thoughts about our conversations and waiting to see if they return to moi.

Wishful Thinking Buyer Strategy
For Toronto Real Estate Market

But what I have been giving second thoughts to is the strategy itself. Because strategy is always so very interesting. Is the “only work with the listing agent” strategy effective for buyers in today’s real estate market? Do these buyers have a better success rate than those who choose to work with buyer agents? They seem so confident, so self-assured. If it’s a winning strategy, shouldn’t all buyers adopt this approach?

Why don’t we take a look at just what’s going on out there?

I’ve been working extensively in Toronto’s District E01 the last few months so I’m very familiar with recent market activity (scorching hot! unbelievable prices! bidding wars galore!). So I number crunched in this area in order to get an idea of how much double-ending is actually going on. Which would give some indication of whether the “only work with the listing agent” strategy is a viable one.

I looked only at freehold sales for the past 90 days (12/01/09 to 03/01/10). During that period, there were 148 sales. Of those sales, 27 were multiple representation deals (definition: the same brokerage represented both buyer and seller). However, of those deals, only 13 were written by the same agent representing both ends (which is what the market typically considers to be the double-ended deal). That’s less than nine percent of total sales.

Numbers Don’t Support
Double-End Strategy Advantage

Numbers-wise, that’s not all that significant/impressive. Buyers who work that strategy aren’t dominating the market. In fact, they’re barely registering. I also took a quick scan of the condo market in E01 during the same period (though no actual calculations were done) and it seems to play out pretty much the same. And if I were to take a look at other Toronto districts, I doubt there would be any that would skew significantly in favour of double-ended deals.

For this strategy to be successful, both parties have to buy into it. And here’s where this one falls down: sellers aren’t buying into it. It’s just not enough for the buyer to believe working with the listing agent is their best shot at writing a beneficial (to them) deal. The sellers also have to believe that the double-ended deal will be the best-ever deal (and that would be because …?), and be willing to turn away all other offers until that deal arrives. Clearly they don’t. Time and again, buyer agents wrote the boffo offers that were accepted.

So “listing agent only” buyers, I ask: When a strategy is just wishful thinking, is it time to adopt a new one?

Toronto buyers and sellers! Are you looking for a Toronto real estate agent who can handle today’s challenging market? Call Lauren at 416–550–6991, or send me an email.

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Defining Hot Toronto Neighbourhoods

I’m always interested to see what search terms bring people to my site as they can be a great source of inspiration for future articles. But sometimes, the information people seek can be SO subjective. For example, how do you define “hot” or “best” in a way that’s meaningful to everyone? It’s simply not possible as one person’s “must have” is another person’s “meh”, and not just in the Toronto real estate market. In life, actually.

How.Ever …

Is Price Appreciation The Constant?

If there’s one variable in the Toronto real estate “hot” equation that I think everyone can agree on it would be price appreciation. It’s the dream: to buy just before a particular neighbourhood takes off, to buy in one that never looks back price-wise (or so it would seem), to see your neighbourhood described in the media as sought-after (which translates into chased-after), to be dazzled by the stories of the multiple offers your neighbours entertain when the time comes to sell.

Toronto Real Estate Dream Analysis

If you’d like to know how your neighbourhood has performed (read: resale prices and percentage changes) the last two years, check out this informative article in the Toronto Star.

A couple of things to note:

• Big gains in some outlying areas. No surprise as affordability issues force buyers to look outside the City of Toronto.
• Price appreciation can pull back in upscale neighbourhoods.
• Modest neighbourhoods can out-perform upscale ones.

Whether you experienced a bump or a slump, here’s to numbers that work for you in 2010!

Toronto buyers and sellers! Are you looking for a Toronto real estate agent who can handle today’s challenging market? Call Lauren at 416–550–6991, or send me an email.

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Let’s get started!

Toronto MLS
Real Estate Statistics

In the City of Toronto (defined as the 416 area code), sales increased 117% compared to a year ago, with 1,343 transactions written.

Also in the City of Toronto, the average price was $460,828, representing a 20% increase from the $382,759 average recorded in mid-December 2008.

The Greater Toronto Area (GTA) reported 3,079 transactions in the first half of December, up 107% from the same period last year. The average price was $423,103, representing a 17% increase from the $360,652 recorded last year at this time.

Numbers related to inventory and Days On Market (DOM) will be available after month-end in my December 2009 Market Report.

Toronto Real Estate
Market Activity Summary

Once again, big jumps in both sales and average price year-over-year. Once again, no surprises. As reported by TREB, “we are comparing the recovery phase of the sales cycle this December with the contraction phase experienced last winter”.

So what’s ahead? Look for price growth relief in the spring as listings increase. However, a few new jolts to the market may be ahead as the Canadian government, concerned about increasing debt levels and the possibility of an over-heated housing market, MAY require higher mortgage downpayments as well as shorten the amortization period.

First-time home buyers, move-up sellers: It’s all about strategy and informed decisions in the Toronto real estate market. And, if it works for you, taking advantage of a favourable market that might, just might, be slipping away.

Thinking of buying or selling? Numbers are helpful, but a knowledgeable Toronto real estate agent is invaluable. Call Lauren at 416–550–6991, or send me an email.

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To the whiteboard!

Toronto MLS
Real Estate Statistics

The City of Toronto (defined as the 416 area code) reported 3,212 sales, an increase of 111% compared to the 1,523 sales written last year at this time.

Also in the City of Toronto, the average price in November 2009 was $450,079, a 15% increase from the $390,225 average recorded during the same period last year.

The GTA (including the City of Toronto) reported 7,446 transactions for November 2009, up 105% from the 3,640 transactions written in the same period last year. The average price was $418,460, representing a 14% increase from the $368,582 recorded last year at this time.

For the GTA, inventory was down 51% compared to a year ago, from 27,037 to 13,827 properties listed for sale. The sales-to-inventory ratio for the month was approximately 54%, compared to 13% recorded this time last year.

Days On Market (DOM) was reported as 26, compared to 41 days the same time last year. Keep in mind that DOM is specific to the contract, as a property can be re-listed (with a unique MLS number for each re-list) several times before the property is sold.

Toronto Real Estate
Market Observations

So, sales growth more than doubled this November (year-over-year), and average price recorded a significant increase. And that’s NO surprise as we’re comparing this month’s performance to last year’s oh-so-dismal market. What a difference a year makes!

But we all know the market recovered and as such, it won’t continue to post these double-digit numbers. As we move through the first quarter of 2010, growth rates will cool as comparisons will no longer be made to a declining market. As inventory builds (read: more sellers come into the market), the brakes will go on.

But until then: Sellers, the market is yours. Lack of inventory drives sales and price!

Should buyers stay on the sidelines? Is it possible for motivated buyers to successfully navigate the Toronto real estate market maze? Is it a good time to buy? Click here to read all about it!

Thinking of buying or selling? Numbers are helpful, but a knowledgeable Toronto real estate agent is invaluable. Call Lauren at 416–550–6991, or send me an email.

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My question: How do you load up a bevy of swans into boats? Not that I’m going to be doing that any time soon. Unless I didn’t get the memo.

So I Googled and found a video of the annual “loading up” event. Given their graceful reputation, it’s amusing to see their resistance. A little bit of a tussle, it would seem. Although given the special protection the City of Hamburg affords the swans, no worries about their safety.

Toronto’s Palace Pier Condo
And The Swans

Which reminded me that I have some photographs of swans taken this summer just across from Toronto’s Palace Pier and Palace Place condos, close to the QEW monument. The “pond” comes and goes; the last time I spun by it was drained and no swans in sight. But they’ll be back, and so will I!

[Show as slideshow]

[View with PicLens]

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What the what??

I’ve given the matter lots of thought, talked to colleagues, Googled galore, but I’m not sure where this unrealistic figure comes from. It’s not like there’s a lack of market reports and statistics. If anything, there’s an abundance of information.

Toronto Real Estate Market’s
$250,000 Buyer Myth

So for curiosity’s sake, what does $250,000 get you in Toronto? Depending on the neighbourhood: land value, lots of options if you’re looking for a condominium or townhouse, possibilities if you’re open to a semi-detached that might need some work, but if you’re determined to buy that detached house, you’ve circled right back to land value. In other words, you’re buying a tear-down or a house that needs a tremendous amount of work and cash.

Or perhaps this detached house:

Solid, detached bird house in a sought-after Toronto neighbourhood. Great views of the lake and the Toronto skyline. Lots of bedrooms. Open concept main floor. Lots of parking. Professional landscaping. Close to all amenities.

Except this beauty isn’t for sale. Who gives away prime waterfront properties?

Are You A Serious Toronto Buyer?

When serious buyers with a $250,000 maximum price range take this information to heart, one of two things happens:

1. The dream lives on but with a location other than Toronto (yes, it’s possible to get a GREAT detached house within commuting distance). 
2. The dream gets re-drawn with the detached house being swapped out for a condominium or townhouse. Something affordable, practical yet still in the city. An equity-builder.

It becomes a “house versus location” issue that only the buyer can decide. And that’s true for any price range.

As for the other buyers, the dream lives on, unchanged, and the same conversation takes place with yet another real estate agent, and then another, and another …

You can be the buyer that buys OR the buyer that dreams of buying. Get Serious!! Call Lauren at
416–550–6991, or send me an email.

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One of my Toronto favourites is the Humber Bay Bridge. It’s intended for pedestrian traffic and, in fact, forms part of the Martin Goodman Trail. Scroll to the bottom of this page and you’ll see an image of the bridge.

I’ve spun across this bridge on my bike many, many times. When approaching from the eastern edge of the Western Beaches you can see the arches shimmering from across the bay; when you’re spinning east along the trail you almost sneak up on it.

It’s always a happy moment when I see it: I’m either on a leisurely ride with no worries other than grabbing a cup of coffee before heading back … or  … I’m taking a much-needed rest on the boulders on Sheldon Lookout because I’ve got another 20 km to go at the end of a long ride (yes, that would be the Oakville Odyssey) and my legs have failed. Which means I’m digging deep to finish the ride.

A View From Toronto’s
Windermere By The Lake

I recently had a buyer revisit for clients who purchased a condo at Windermere by the Lake. They’ve got a great view (and a great condo!) overlooking Humber Bay and the bridge. It occurred to me that not many people get to see it from such a lofty vantage point, so I made sure to bring my camera.

It was an unusually warm, sunny November day and I wasn’t quite sure what I was capturing, image-wise, as it was impossible to see what was actually in the monitor. The sun was SO intense and the images were being bleached out and all. I took my shots and hoped for the best. This is my favourite photograph from the day.

Is a new or resale condo with a great lake view in your future? I can help! Call Lauren at 416–550–6991 or send me an email.

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Why the surprise at such a pretty door? It’s just a little … unexpected. Eastern Avenue runs through what was once a very industrial area and although many of the factories (and sadly, the jobs) have long departed, the vibe is still somewhat hardscrabble.

I love how that particular shade of blue works so well with the yellow bricks. And especially that the planters are done up in the same shade of blue rather than trying to introduce a third colour. The old “less is more” notion. It just works! On second thought, it’s very Eastern Avenue.

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Let’s get started!

Toronto MLS
Real Estate Statistics

In the City of Toronto (defined as the 416 area code), sales increased 88% compared to a year ago, with 1,560 transactions written.

Also in the City of Toronto, the average price was $441,893, representing a 10% increase from the $400,305 average recorded in mid-November 2008.

The Greater Toronto Area (GTA) reported 3,666 transactions in the first half of November, up 84% from the same period last year. The average price was $415,066, representing a 10% increase from the $375,712 recorded last year at this time.

Numbers related to inventory and Days On Market (DOM) will be available after month-end in my November 2009 Market Report.

Toronto Real Estate
Market Activity Summary

Once again, big jumps in both sales and average price year-over-year. And that’s no surprise as we continue to make comparisons to market activity that occurred during a time when sales and average price experienced significant declines due to extreme market conditions.

Although TREB is projecting that sales and average price this winter will be above the numbers reported in the fourth quarter of 2008 and the first quarter of 2009, these increases can’t continue forever. Next year’s market is going to be very, very interesting.

Would-be sellers, today’s market is hot. Today’s. Don’t miss your market!

Thinking of buying or selling? Numbers are helpful, but a knowledgeable Toronto real estate agent is invaluable. Call Lauren at 416–550–6991, or send me an email.

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