11.15.2011

Monthly Newsletter: November

Photobucket

The Toronto real estate market continued its brisk pace with 7,642 single family homes sold in October, bringing the total number of sales in 2011 up to 78,012. 2011 is projected to end with over 90,000 homes sold, marking it as the second best year (after 2007) in the 80+-year history of the Toronto Real Estate Board.

While the market is extremely active, it’s important to realize that all homes do not sell! As of the end of October, 132,785 new listings were taken in 2011 with 78,012 sold or 59%. While this % sold is amongst the highest ever, it also means that 41% or 4 out of 10 listed homes did not sell. Of the homes sold, the average list to sale price was 99%, taking 25 days to sell.

As we continue into the Fall market, the supply of homes for sale stands at 17,794, giving ready buyers an opportunity to see several homes in their search criteria before having to make a decision.

New condominiums continue to be a promising long-term investment as builders offer good values on pre construction prices. At Realty Royalty, we are amongst the first to get great new projects. The next “hot” property which just launched to the public is Kingsclub Condominiums in between Liberty Village and King West Village. These units are selling very quickly so let me know if you have any interest!

Have a great remaining November, and please keep me in mind if you know or hear of someone thinking of buying or selling. I do appreciate your help!

Your Friend In Real Estate,
Aleks
P.S. I'm never too busy for your referrals

11.14.2011

3rd Project

Here is my 3rd and most recent project. I was really excited about this house for a few reasons, to start off, I saw a lot of potential here and I knew I could get creative, 2nd, it's on a street and neighbourhood that I was dying to move into, the Junction Triangle and lastly because I had some time in between my last project and this one and I found some great furniture and pieces from scouring antique markets as well as purchasing some items from Salvage Interiors and Renee Elliott from Eat.Live.Shop. I couldn't wait to put everything together.

Upon first glance this project intimated me as I was about to embark on the biggest project I have ever done. It was basically a total gut job and I wasn't sure at first if I wanted to take it on, but I figured I had good experience under my belt and I also wanted to challenge myself. But before I show you the house, I want to share some things I learned along the way:
Aleksandra's Tips:
  • Buffer your budget-whatever your reno budget is, always leave room for the unexpected, when working with old homes, like we have here in Toronto, there is always something you will either have to fix or replace, in my case it was the furnace and AC, which were not cheap!
  • Ugly things always lurk behind walls-when you are gutting a house and/or taking down walls, you're most likely to find problems you did not expect or budget for, most common, but not limited to, is plumbing not done to code or interfering with your current design plan and knob and tube wiring. Once found, you cannot just leave it, you MUST fix it! This is what happened to me, I didn't budget to re-wire my whole house, but when my electrician found knob and tube wiring all over the house, it had to be ripped out and replaced, even though when I first looked at the house I saw an electrical panel and not a fuse box, oh well, c'est la vie!
  • Hire specialists-although general contractors are jack of all trades and may give you a better quote because they are doing all the work, throughout the project this may back fire on you for several reasons. If your contractor gets sick, the project comes to a hault and may not meet your deadline, the project will not move as fast as you anticipated as one person can only do so much and contractors can become overwhelmed, which further delays you. Lastly I'm a strong believer of being great at one thing and not mediocre at several things
  • Communication is key-don't be afraid to speak up and let your contractors know when they are doing something wrong or something you don't like, remember this is your money, risk and investment. Also make a list of everything that needs to be done in your home and set realistic deadlines for each task so that everyone is on the same page. If the contractor is consistently not meeting your deadlines then have a sit down and find out why, are your deadlines unrealistic or are the contractors not fully committed to the tasks at hand? Remember communication is key with any relationship, whether it's personal or business
  • Supervision is a must-giving your contractor free rein on YOUR project is not advisable. Make sure either yourself or someone you know, is always dropping by the home to note progress and to let your contractors know someone is always watching. If you have extra time, find an excuse to be at the home for extended periods of time each day, as from my experience people tend to work harder and take less breaks when you are there working too
  • Shop around-this is only if you really have extra time on your hands, shop around for materials, I'm not referring to dry wall or nails, but the major stuff, like tiles, toilets, sinks, finishes like faucets, light fixtures, etc. There are so many discount or "end of the line places" and a lot of the big box stores also do price matches
I'm figuring by now that you are sick of reading, so here are the before and afters of my home.  This home is a semi detached featuring 3 bedrooms and 2 washrooms, one legal front pad parking and a finished basement. Let me know what you think!

Before...exterior
Photobucket
After...exterior
Photobucket
Once again, curb appeal is very important and this house was suffering, I've been seeing a lot of cedar on the front of homes, so I wanted to try it out here. This home got a new cedar porch, trim painted black and cedar accents. Also cedar gives off a nice smell. Lastly some landscaping, done by moi, did this home justice.

Before...living room
Photobucket
After...living room
Photobucket
Love the exposed brick that was uncovered! New oak hardwood floors, light fixture, dry wall, paint and window coverings

Before...dining room
Photobucket
After...dining room
Photobucket
Here I had some walls knocked down to make it an open concept main floor from the living room right through to the kitchen. New oak hardwood floors, dry wall, paint and light fixture from Homesav (love that website)

Before...main floor/staircase
Photobucket
After...main floor/staircase
Photobucket
Since the home is only 15.31 feet wide, I wanted to give the illusion of a bigger, airy space, this was accomplished by making the main floor open concept as well as knocking out the wall separating the stairs from the dining room and building a custom banister. Since this wall was load bearing we also added a beam where the wall used to be to keep the house sturdy...I think this was a success and one of my favourite things I did in this home

Before...kitchen
Photobucket
After...kitchen
Photobucket
Since the kitchen was narrow and dark, I decided to add a window above the kitchen sink to bring in some more light. New oak hardwood floors, pot lights, tile backsplash, custom built kitchen with pantry, stainless steel appliances and granite counter top with undermount sink completed the look of a modern kitchen

Before...3rd bedroom
Photobucket
After...3rd bedroom
Photobucket
I had the kitchen ripped out and turned this room into my home office, it could also double as a nursery if needed. New oak hardwood floors, light fixture, drywall and paint is what this room needed

Before...main washroom
Photobucket
After...main washroom
Photobucket
This washroom was a big eye sore and a challenge for me as it was very tiny and not functional at all! I had the bathroom completely gutted so I could start from scratch. It took days of sitting on that bathroom floor and drawing out different scenarios of how to put it back together until I finally came up with this design. I bought a brand new mini tub, toilet, sink and mirror with extra storage space. I used white subway tiles in the shower area and porcelain tiles on the floor. Some new paint and light fixture completed this space.

Before...2nd bedroom
Photobucket
After...2nd bedroom
Photobucket
Here, there was not much to do, new oak hardwood floors, dry wall, paint and light fixture

Before...master bedroom
Photobucket
After...master bedroom
Photobucket
Like I said before, I love accent walls in the bedroom and here is no different. Since I did a light grey (grey is so in right now) colour throughout the house, I decided to do the accent wall in a very dark grey colour. In this project I was trying to weed out my Ikea furniture but had to stick to a budget. I wanted to get a new bed frame and headboard and the one I wanted was $1000, yikes! So Renee from Eat.Live.Shop gave me a great idea, she told me to find a cool door, paint it and hang it on my wall as a headboard and that's exactly what I did here, it turned out a lot better then I expected! Also since this is a master bedroom and I have a serious shopping problem, the dinky closet space was not cutting it, so I had a big closet built and used mirrored doors to make the room seem bigger. New oak hardwood floors, dry wall, paint and a chandelier, which I'm seeing everywhere in bedrooms, completed my bedroom oasis.

Before...basement
Photobucket
After...basement
Photobucket
The basement was pretty scary! It was chopped up into 2 bedrooms, I decided to tear down all the walls and make it all open concept. By the time new dry wall was put up and pot lights and carpet were installed, it turned into a cozy place to hang out

Before...extension
Photobucket.
After...in progress
Photobucket
I don't have a true "after" picture of the extension, but this will give you some sort of idea of what I did. Once again, to bring more light into the house I had the door torn out and replaced with a sliding glass door, also I reduced the extension to half it's size because it was in rough shape and it would have cost more money to fix versus tearing down the rough part and working with the rest. The extension got new oak hardwood floors, drywall, paint and a light fixture and is used as a breakfast area.

Before...backyard
Photobucket
After...backyard

Photobucket
The backyard was a jungle and was not a true extension of the indoor space. In order to turn it into an oasis, I had the whole backyard cleaned up, sodded, added new plant life and a new fence on one side...what a difference.

In the end the project was a success. I received multiple offers and sold 115% over asking price, what more could I ask for. I'm sure the buyers will love raising their new family here in this great neighbourhood. I already bought my next house and will be closing on it very soon. Can't wait to share the whole project, step by step.
Aleks

Great Find: All Things Metal

 Are you looking to add some new decorative pieces to your home? How about some metal? Well, look no further, check out some of these cool items from Debbie's Curious Sofa online shop. All I have to say is....I want!!!! These would make great Christmas gifts, wink, wink!

Triple Clip Hanger- $13.50
Photobucket

Hotel Silver Teapot- $48.00
Photobucket
Mini Photo Album- $42.00
Photobucket
Italian Florentine Wall Shelf- $42.00
Photobucket
Pedestal Column- $18.95
Photobucket
Aged Florentine Tray- $42.00
Photobucket
For more metal goodies, check out Debbie's online shop
***All images via Curious Sofa***

  Aleks

11.11.2011

Myth: HST and Resale Homes

Tax by definition

Since the implementation of HST back in July 2010 and numerous efforts by the Ontario government and OREA to explain how it applies to Real Estate transactions, 58% of Ontarians still believe that HST is applied to the purchase of a resale home, as per a survey conducted by Ipso-Reid . Furthermore, 60% of people living in the GTA find this to be true.

Well, if you're part of that 58% or 60% of people, it's time to finally dispel that myth. HST DOES NOT apply to resale homes in any part of Ontario. If you are buying a home, HST only applies to the following:
  • Realtor commission, which is paid by the seller
  • Lawyer fees
  • Moving Companys
  • And any other service associated with buying and moving into your home
So let's do an example to further clarify things, let's say you are thinking about buying a home listed for $400,000, the price you will pay for that home remains unchanged, it's still $400,000 and NOT $452,000 ($400,000 + HST), it's that simple!

The only time you will have to pay HST on a home, is if you buy it straight from the builder. The purchase price you see on the price lists handed out, usually does not include the HST that you will have to pay on closing. So if you're looking to avoid paying HST on a home, then buy a resale home instead.

Ontarians needs to grasp this concept, as too many of them believe the opposite, which is deterring potential buyers in purchasing homes at all. This may cause buyers to miss out on great opportunities and even not achieve the dream of home ownership.

Here is a video produced by the Ontario government and OREA, that further explains HST and real estate:


If you're still confused after reading this, then don't be afraid to give me a call as I'm always here to help!

Have a great weekend!
Aleks
***image via Flickr***

Guest Post: A Happy Home = A Safe Home

Today's post is a guest post from one my clients. Danielle is an aspiring writer and currently working on her first fiction novel. Here, Danielle talks about finding a home for her and her daughter, where they can both feel safe, a place they can finally call home.  Let me know what you think!
Photobucket
Home
Running, heart thumping, reverberating in my ears, hot, intense breathing, cool slickly sweat - beading on my forehead, pooling across the back of my shoulders and then dripping, slowly -down my back, my body’s way of attempting to handle this, this fear. How did I find myself here? The events leading up to this point cascading into each other, catapulting me to this pivotal point. The playing field is far from level. Its him against me, I have tried other avenues, I know the law, I believed in the force, the slogan “to serve and protect”, except that I am not protected. I don’t feel a service has been provided, I am overcome by fear, each and every time I leave my home. When you live your life in fear, never knowing when the threat will materialize, show its ugly face, turn you into someone you never thought you had the ability to become. Security, safety, are words we use, but their meaning, what they really represent are beyond reach. The past is all we know of the future, and our mistakes tend to repeat themselves, until you really learn. Until you can no longer walk down that path, until the fear becomes too much, in my case, my fear was compounded with strong feelings of hatred, hatred simmering beneath the surface, threatening to overtake me.
With the help of my real estate agent, Aleksandra, I moved here to get a fresh start, a place where my daughter and I could call our own, that wasn’t tainted with his touch, his knowledge of its existence. On moving in, it was pale and uncharacteristic, surrounded by stairs, a non-descript fortress on a hill. I claimed the top floor, became knowledgeable with the sounds the walls make, the stairs, the various creaks and groans in the floor. I began to decorate. I put up photographs – smiles frozen in time, an expression of love between a mother and a daughter, a moment, caught by a lens, forever on display, and it feels right, these small little expressions of happiness. I hung window dressings, began to make memories, to put the past behind me, to take control of my future, to really truly know what it means to feel safe. These four walls that I have slowly come to love, they are stable, safe, and strong, they provide me with a sense of security. I created a..... home.
-Danielle

Have a great weekend!
Aleks

11.10.2011

Cool Homes: I Love Rustic!

I came across this rustic home, which belongs to and is decorated by Debbie Dusenberry, a Kansas City native. Debbie also use to own a boutique retail store called Curious Sofa. After 10 years, Debbie decided to close her store and start an online shop instead. I checked it out and it's filled with tons of goodness for your home, I want everything!!!! My only salvation is that all her pieces will not break my bank account, so make sure to check it out. You can also visit Debbie's online store on Etsy. I know that as soon as I'm done this post, I will be heading over there :)

Here's Debbie's home, let me know what you think:

Love that light fixture!!!
curioussofa eclectic kitchen
eclectic kitchen design by kansas city interior designer Debbie Dusenberry, DBA Curious Sofa

I can't think of one thing I don't like about this kitchen!!!
Cottage Kitchen eclectic kitchen
curioussofa eclectic dining room
curioussofa eclectic living room
curioussofa eclectic
eclectic spaces design by kansas city interior designer Debbie Dusenberry, DBA Curious Sofa

That headboard has me drooling and I'm totally loving the side table too!
curioussofa eclectic bedroom
***all images via Houzz***

Do you have any cool finds? If so, please feel free to share them with me, I'm always looking to get inspired.
Aleks

11.09.2011

More Info: Howard Pk Urban Condos

Photobucket

As mentioned in one of my previous blog posts, I attended the VIP broker event this afternoon for Howard Park condos in the heart of Roncesvalles Village and I'm excited to share more information with all of you.

Before I do, please note that the project opens to the public tomorrow and units are on a first come first serve basis and with only 92 units in total, inventory is low for such a HOT area. Realty Queen and Realty King have done our due diligence and narrowed down the units which will be the most profitable. Reservations are by appointment only, contact us by email realtyroyalty@gmail.com or through our website at http://www.realtyroyalty.com/

So, without further ado, here is the information you have been waiting for:
Video of the event including some floorplans


Here Are The Details:
  • Over 40 different floorplans to choose from, contact us to see them
  • Sales centre located at 60 Howard Park Ave, where the project will be built
Deposit Structure:
  • $5,000 on signing
  • Balance to 5% in 30 days
  • 5% in 120 days
  • 5% in 180 days
  • 5% in 540 days
Photobucket
Building Facts:
  • Tentative Occupancy is January 2014
  • Maintenance fees estimated at $0.44/sq ft
  • Parking $25,000 available for suites above $325,900
  • Locker $3,000
  • First tower is 10 storeys
  • 92 modern residences with oversized terraces and private gardens
  • Balconies with contemporary glass railing systems
  • Steps to TTC streetcars and subway
  • Located in Roncesvalles Village, seconds away from trendy shops, restaurants like Barque and bars
  • 1 bedroom all the way to 3 bedroom units available and everything in between
  • 487 sq ft-1,173 sq ft units
  • Contemporary urban architecture by RAW
  • Urban courtyard designed by award winning Ferris & Associates
  • Concierge services
  • Expansive and intensive green roof system
  • Party, media and fitness room
  • Bicycle storage
  • Stacked washer dryer
  • 9 ft smooth ceilings in living spaces on levels 2-8
  • 10 ft smooth ceilings in living spaces on levels 9-10
  • Wood or glass sliding doors
  • Engineered hardwood flooring
Photobucket
VIP Incentives:
  • longer deposit structure as stated above
  • free assignment at 90% sold with builder approval
  • Capped development/education levies...$4,500 1 bdrm & 1bdrm+den and $6,500 2bdrm & larger
Photobucket
Inspired Kitchens:
  • Stone counter tops
  • Two-toned European inspired flat slab kitchen cabinets with lacquered uppers and wood veneer lowers
  • Single under-mount stainless steel sink
  • Single lever deck mounted faucet
  • Premium appliance package that includes canopy style stainless steel hood fan, fully integrated dishwasher, frost-free fridge/freezer, a gas cooktop and built in ovens
Photobucket
Luxurious Bathrooms:
  • European style bathroom vanity
  • Stone counter top
  • Contemporary rectangular vessel sink
  • Tiled floors, tub and shower
  • 5 ft deep soaker tub or frameless shower
  • Frameless mirror over vanity
  • Single lever faucet for vanities



Additional Photos:
Views
Photobucket

Photobucket
***For more information or to set up an appointment, please contact me at 416.707.1209***
Aleks
Related Posts Plugin for WordPress, Blogger...