Today’s Quote: ” No one cares how much you know until they know how much you care.
I just finished reading Gary Vanerchuk’s book Crush It. Gary has an amazing story and writes about cashing in on your passion…whatever it is. Gary will be speaking at our Remax Hallmark annual meeting.
Check out this video. Can you imagine if this happened in Toronto?
Did you know.. …
* Average prices in the new condo market rose by 4.3% in July year over year to $529 per sq. foot in the GTA. Resale condo prices also increased by 5.7% to $391 per sq. foot.
* Here is an interesting chart showing prices per sq. foot in various neighbourhoods in downtown Toronto in 2010:
* According to Urbanation condo rents have been increasing, up 5.5% in the last quarter from a year earlier. This should help some investors stay in the market . Urbanation places the average rental price at $2.11 per sq. foot.
* Buyers originally from Pakistan, India, Iran, China , Korea and Russia are the biggest investors in the Toronto condo market.
* According to Tridel Corp, a large condo Builder in the Toronto area ,the average size of new condo units are getting smaller during the last 5 years, a trend that is expected to continue. Tridel says the most common layout is a one bedroom plus den followed by a one bedroom.
* According to Tim Bailey, general manager of Avid Canada a research and consulting firm: While many consumers are willing to forgo space they are not willing to forgo functionality, storage is extremely important to home buyers with walk-in closets as the No.1 must have feature, multipurpose rooms are in while formal living and dining rooms are out, open concept designs that connect the kitchen to family and dining areas attract buyers and outdoor cooking areas and outdoor fireplaces are an emerging trend.
* There are typically four levels of pricing in any new construction project:
a) Friends and Family
b) VIP Brokers/Agents
c) Lesser known Brokers/Agents
By the time sales get to the general public 70% of the project is sold.
* Using the full amount of financing the bank preapproves you for can be financial suicide. The bank will preapprove you based on gross income. You live day to day based on your net income. A personal budget is a MUST as part of your home buying plan.
* There is no cost for a Buyer under a Buyer Representation Agreement to use a Realtor to represent their best interests to purchase a home. The Seller pays the commission which is typically 5%. Remember, the listing agent is representing the Seller’s best interests not the Buyer’s.
* It is crucial to have a plan in place before you can begin the buying process. Every goal requires a plan. Your Realtor should help you put together a systematic plan which will ultimately save you time , effort and money. Are you ready for your Buyer Planning Session ?
Please contact me direct at 416-520-6746 or David@TorontoRealEstate.ca