What’s The Difference Between A CMA And An Appraisal?

Great article in http://realtytimes.com  ​

How do you find out the value of your home? There are two ways – a comparative market analyses or CMA, and a professional appraisal.

The CMA is used to determine current market value so that you can choose the listing price where your home will sell quickly and for the highest amount possible.

Your real estate professional gets the information for the CMA from the multiple listing service, or MLS, where brokers and their agents pool information on listed properties for sale. The MLS also contains sold data, historical trends and property tax roll data.

The CMA includes recently sold homes and homes for sale in your immediate neighborhood that are most similar to your home in appearance, features, and general price range. Establishing a home’s fair market value is equally important to buyers and their lenders. When your buyer applies for a loan, the bank will order an appraisal.

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Here is what you can do next?

Free Tour of any Condo or Home

Let’s Meet for a Coffee: Free Buyer Planning Session.

Free Buyer and Seller Reports:

Please contact me direct at 416-520-6746 or by email, David@DavidStoddard.ca

2014 Could Be Turnaround Year For Toronto House Market

Great article in http://www.thestar.com 

The coming year could be turnaround time for Toronto’s housing and rental markets.

With a surprisingly unpredictable 2013 coming to an end, economists are weighing in on what the future could hold. While opinions vary somewhat, there seems general agreement that house price gains will slow — if not slip by the end of 2014 — and the rental vacancy rate should edge up slightly as a record number of new condos come on the market.

But forget all those fears about a housing bubble that’s about to burst, says Helmut Pastrick, chief economist of Central 1 Credit Union.

Click here for more.

Here is what you can do next?

Free Tour of any Condo or Home

Let’s Meet for a Coffee: Free Buyer Planning Session.

Free Buyer and Seller Reports:

Please contact me direct at 416-520-6746 or by email, David@DavidStoddard.ca

Toronto Condo Hot List for the Week of Dec.16,2013

Happy Holidays!!

Free Condo Tours: The Tour is not designed to find the condo of your dreams. Rather, the Tour provides an opportunity for you to learn about what condos look like in the neighbourhoods and price ranges of your choice. Register Here.

Here are my Top Picks for the Week:

300 Manitoba St. #328

Price: $409,000 Beds: 2 Baths: 1 ½ Baths: 1 Sq Ft: 1260

Chic And Modern Corner Loft In   “Mystic Point”. Fully Renovated. Stunning Chef’s Kitchen Perfect   For Entertaining. Centre Island, Marble Counters With Stainless Steel   Finishes. Open Concept With 17 Ft. Ceilings, Walnut Flooring, Gas Fireplace.   Cu…

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705 King St. W #607

Price: $239,900 Beds: 0 Baths: 1 Sq Ft: 550

Prime King West. Open Concept,   Studio Condo With Great Views And A South-West Exposure. Large Windows Make   This Studio Warm And Bright. Inclusions: Stove, Dishwasher, Fridge,   Microwave, Hood Range. All Electrical Light Fixtures. All Window Coverings…

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10 Navy Wharf Crt #3608

Price: $368,000 Beds: 1 Baths: 1 Sq Ft: 750

Gorgeous , Renovated And Spacious   Condo! Tasteful New Kitchen And Bathroom. Den Big Enough To Be Used As A 2nd   Bedroom. Sun-Filled With A South-East Exposure and Fantastic 36th Floor Views   Including the Rogers Centre. Inclusions: All Electric Light …

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1 King St. W #2112

Price: $274,900 Beds: 1 Baths: 1 Sq Ft: 550

Best Location In The Heart Of The   Financial And Entertainment District Located In The King Edward Hotel.   Residentially Zoned. Fully Furnished Pier-A-Terre. Move In Ready. South West   With Lake View. One Bedroom With One Office Area. High Ceiling. Upg…

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Please contact me direct at 416-520-6746 or by email, David@DavidStoddard.ca

Investors Own Less Than A Quarter Of Toronto Condominiums: CMHC

Great article in http://www.thestar.com 

Investors are a “strong presence” in both Toronto’s and Vancouver’s condominium markets, but to far less a degree than widely thought, according to an annual review of the housing market by the Canada Mortgage and Housing Corporation.

About 23 per cent of Toronto’s condo stock was being rented out by investor-owners in 2012, says the federal housing watchdog in its annual Canadian Housing Observer review which places a special focus on the national condo market this year, revealing some interesting details.

The fact less than a quarter of Toronto’s condo units have become rental apartments, rather than home ownership suites, is likely to surprise local housing experts, economists and realtors who have come to believe that investors make up at least 40 per cent of the condo market and own up to 90 per cent of the units in some downtown skyscrapers close to transit lines.

Click here for more.

Here is what you can do next?

Free Tour of any Condo or Home

Let’s Meet for a Coffee: Free Buyer Planning Session.

Free Buyer and Seller Reports:

Please contact me direct at 416-520-6746 or by email, David@DavidStoddard.ca

Toronto Condo Hot List for the Week of Dec.9,2013

Free Condo Tours: The Tour is not designed to find the condo of your dreams. Rather, the Tour provides an opportunity for you to learn about what condos look like in the neighbourhoods and price ranges of your choice. Register Here.

Here are my Top Picks for the Week:

155 Legion Rd. #907

Price: $319,900 Beds: 1 Baths: 1 ½ Baths: 1 Sq Ft: 750

Bright And Sunny 2-Level Condo With Floor To Ceiling Windows. Kitchen Island. Master Ensuite Bath With Separate Shower And Double Closet. Balcony With West Exposure. Inclusions: Stainless Steel : Fridge, Dishwasher, Hood Range. Front Load Washer And…

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215 Ft. York Blvd #904

Price: $475,000 Beds: 2 Baths: 1 ½ Baths: 1 Sq Ft: 972

‘The Neptune’ Most Desirable 2-Bedroom Floor Plan In The Entire Building! Fantastic South/West Balcony View Of The Lake And Toronto Island. Spacious Open Concept Living/Dining Area, Fabulous Chef’s Kitchen, 2 Baths. Recently #1904 Sold F…

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85 East Liberty St. #2203

Price: $258,900 Beds: 0 Baths: 1 Sq Ft: 496

New Building. Bright Studio Unit With A West Facing Balcony. Modern 4Pc Bathroom, Ensuite Laundry & Large Closet. 496 Square Feet As Per Builder’s Plan, Top-Of-The-Line Modern Finishes. Engineered Hardwood Flooring. Excellent Floor Plan. Great V…

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33 Charles St. E. #1302

Price: $339,000 Beds: 1 Baths: 1 Sq Ft: 470

Location!! Open Concept Junior One Bedroom Condo With An East Facing Large Balcony. Modern Finishes Including Hardwood Floors, Granite Counter-tops and 9 Ft Ceilings. Inclusions: Stainless Steel: Fridge ,Stove ,Microwave ,Dishwasher. Stacked Washer/…

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88 Broadway Ave. #608

Price: $388,888 Beds: 1 Baths: 1 Sq Ft: 762

Functional 1 Bedroom Plus Den Condo . 762 Sqft + 39 Sqft East Facing Balcony. Dark Wide Plank Laminate Flooring Throughout, Under Cabinet Lighting, Built-In Wine Rack, Granite Counter-Tops, 9′ Ceilings, Inclusions: Stainless Steel: Stove, Fridge…

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Please contact me direct at 416-520-6746 or by email, David@DavidStoddard.ca

 

Toronto Condo Hot List for the Week of Dec.2,2013

Free Condo Tours: The Tour is not designed to find the condo of your dreams. Rather, the Tour provides an opportunity for you to learn about what condos look like in the neighbourhoods and price ranges of your choice. Register Here.

Here are my Top Picks for the Week:

1 Market St. #1102

Price: $349,000 Beds: 1 Baths: 1 Sq Ft: 550

New Building. Bright 1 Bedroom With Walk-In Closet . Move In Ready. Ample Storage . Open concept. Large Balcony With Fabulous Views Of The CN Tower And Downtown. 9 Ft Ceilings Inclusions: Stainless Steel: Fridge, Stove, Microwave, Dishwasher. White …

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140 Bathurst St. #608

Price: $319,900 Beds: 0 Baths: 1 ½ Baths: 1 Sq Ft: 550

Bright, Spacious & Well-Laid Out Condo In King West. Boasts Unobstructed Views Of The City Skyline. Updated Modern Washroom & Flooring, Spacious Open Concept Living Space, Breakfast Bar, Ample Storage Space. Open Balcony. Inclusions: All Stainless S…

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165 Legion Rd #729

Price: $319,900 Beds: 1 Baths: 1 Sq Ft: 635

Brand New One Bedroom Plus Den Unit. Open Concept. Functional Layout, Great Location & Fantastic Lake View. Corona Model, Quartz Counter Top In Kitchen, Fully Upgraded. . Inclusions: All Stainless Steel Appliances (Fridge, Smooth Top Stove, Built-In…

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34 Western Battery Rd. #443

Price: $ Beds: 1 Baths: 1 Sq Ft: 780

Spacious Multi Level Corner Townhome In A Low Traffic Nook Of Liberty Village. Rare Rooftop Patio With Full City Views And Perfect For Entertaining! Main Floor Boasts Hardwood Floors And Built In Organizers. Kitchen Has Been Updated With Granite Cou…

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2191 Yonge St. #1708

Price: $639,800 Beds: 2 Baths: 2 Sq Ft: 1090

Minto ‘The Quantum 2’ Condo . $80K In Upgrades(Smooth Ceilings, Undermount Sink, Hardwood Thru-Out, Custom Island Drawers, Frameless Glass Shower) . Approximate 1090 Sf + 56 Sf Balcony. 2 Bright Bedrooms + Den(Clear Forest Hill View). 2 Full…

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Please contact me direct at 416-520-6746 or by email, David@DavidStoddard.ca

 

Free Downtown Toronto Condo Listings

Following the Neighbourhood Condo Lists is Market Education!

Our Clients have found that our Realtor condo lists are an invaluable resource tool to casually learn about the downtown Toronto condo market.

Sellers fear educated buyers.

Even if you are 6-12 months away from purchasing your condo, the condo lists will show you what sellers are asking for the units now listed on the Toronto Real Estate Board.

Each Realtor listing, including foreclosures,  will include important information such as : address, unit number, list price, number of days on the market, approximate square footage, bedrooms, washrooms , exposure, parking , locker and more.

I have included the lists for the most popular downtown Toronto neighbourhoods.

If you would like a list from a neighbourhood not listed please us an email to David@DavidStoddard.ca

Click on any link below to review the most recent Toronto Real Estate Board listings.

Bay St

Cityplace

East of Yonge-North

East of Yonge-South

Entertainment District

Fort York

Harbourfront

King West

Liberty Village

Distillery District

St.Lawrence Market

Yonge Eglinton 

Yonge Sheppard

Mimico

The lists are FREE and NO OBLIGATION.

Your next step is to register for a FREE Condo Tour. Our clients love this no pressure market experience .

Please contact me direct at 416-520-6746 or by email, David@DavidStoddard.ca

Keeping Your Home Safe And Festive This Holiday Season

Great article from www.CarsonDunlop.com

One of the many joys of the holiday season is decorating your home. Religious celebrations aside, December is about spending time with loved ones and toasting the successes and achievements of the past year. Making your space warm and inviting for family, friends, and colleagues is an integral part of this process – and beyond that, it’s really fun.

We know that it’s easy to get wrapped up in wreaths, lighting, and ornaments, so we want to take this moment to encourage homeowners to practice safe decorating this season. (And no, we’re not just talking about making sure you’ve got mints by your mistletoe). So what exactly do we mean? We’ve found that atmosphere can trump electrical and fire safety, and that between visiting and being visited by others, basic maintenance can get overlooked. Outlined below are our top five December Décor Dos & Don’ts.

1. Don’t leave your candles unattended

It may seem like common sense, but with what feels like a million things on your “To Do” list, it doesn’t take a lot to get distracted. So when your hot cocoa break gets interrupted by a frantic call from your mother-in-law, remember to extinguish your candles before you answer the phone. This is a pretty serious fire hazard that doesn’t take much to avoid, so make sure to blow out your candles before leaving a room.

2. Don’t keep your holiday lights near paper and plush materials

Whether they be on your tree, around your windows, or on your banisters, it’s important to keep your indoor lights clear from debris that can catch fire. When left on for several hours the tiny bulbs on your holiday lights can create a lot more heat than you’d expect, so keeping them away from flammable objects is important. Although modern holiday lights are definitely safer than their predecessors, taking this extra precaution is still a good idea.

3. Do put your outside lights on timers

If they aren’t already, neighborhoods will soon be aglow with lights framing homes and twinkling in trees, real and inflatable snowmen, and other festive creatures wishing passers-by happy holidays. Turning your front yard into a winter wonderland can be a blast, but the majority of modern decorations require electricity to function, and keeping the juice flowing all night is less than ideal. Save money and the environment by using a timer for your outdoor electronics. Plug your decorations into the timer, and set it to turn on and off at specific times. We usually set ours to turn on just after sunset, and off around 10 or 11pm. Timers can help to deter burglars by making them think you’re home when you aren’t, and they save you the trouble of fumbling with plugs late at night in your pajamas. They typically cost around $30 and are available at most hardware stores.

4. Do check and test your smoke and carbon monoxide detectors

With all the seasonal cooking and baking your kitchen will see this month it’s important to make sure you’re prepared for an emergency. You wear oven mitts to protect your hands, do the same for your house by properly maintaining your smoke and carbon monoxide detectors. You should test your detectors on a monthly basis to see whether they have working batteries. You must have at least one smoke detector on each floor, but we recommend more. While there aren’t standard rules for carbon monoxide detectors, and you might not even have one, we treat them similarly to smoke detectors and do encourage homeowners to have at least one in their homes.

5. Do shovel your driveway and salt your walkway

It’s no wonder “Let It Snow” will be playing in stores, at school concerts, and in living rooms all season long; snow is one of the quintessential pieces of the holiday puzzle. Unfortunately, it can be more than festive, it presents a hazard too. Winter weather is wonderful, but it’s also dangerous. Avoid getting stuck in your driveway, or slipping down your walkway, by shoveling and salting regularly. These chores are a bit of a pain in the neck, but they are far superior to you or others falling due to prolonged snow and ice accumulation.

Home maintenance and safety is valuable year-round, but as this is one of the traditionally busiest times for many, we felt it pertinent to reinforce these concerns.

For more homeowner advice and maintenance tips, make sure to check out the Carson Dunlop blog.

There are a lot of do’s and don’ts this season, but perhaps this biggest is don’t drink and drive. Please stay safe and responsible.

Please contact me direct at 416-520-6746 or by email, David@DavidStoddard.ca

What to Do Now to Avoid Tax in January

Great article in http://www.thestar.com 

Your holiday to-do list likely involves plans around decorating, baking, buying presents and visiting family and friends. But don’t forget to add year-end tax planning. Why bother sifting through a year of paperwork now instead of the New Year? Because some savings are only available by month’s end.

“Bottom line, year-end tax planning can be your ticket to extra cash,” says tax expert Evelyn Jacks, president of Winnipeg-based Knowledge Bureau. “Who couldn’t use more money to pay bills, especially after Christmas?”

With that in mind, here are 12 things to do now to save money in the New Year.

Click here for more.

Here is what you can do next?

Free Tour of any Condo or Home

Let’s Meet for a Coffee: Free Buyer Planning Session.

Free Buyer and Seller Reports:

Please contact me direct at 416-520-6746 or by email, David@DavidStoddard.ca

Toronto Condo Rental Market Continues to Hit New Highs

Urbanation Inc.(www.Urbanation.ca ), the leading source of information and analysis on the Toronto condominium market since 1981, released its Q3-2013 rental market results today.

For the second straight quarter, the number of condominium apartments rented through the MLS system reached a new record, soaring by 39% from last year to 6,451 units. The total number of transactions for 2013 is set to surpass 20,000 units, which follows 15,355 units in 2012 and 13,674 units in 2011.

Rental demand has been able to keep pace with the strong rise in listings, which were 47% higher than the same time last year. Supply has been driven up by a rising number of completed projects. Over the past four quarters, nearly 16,000 units were registered. Of the 4,609 units registered in Q3-2013, 24% were rented out during the quarter.

On a per square foot basis, average rents grew by 4.2% year-over-year to $2.41. However, a strong inflow of smaller units to the market held annual growth in overall rents to 1.6%, with an average monthly rate of $1,875 in the third quarter.

“We’re seeing some positive early impacts on the market from the increased level of investor-purchased pre-construction condos in recent years. The rapid growth in activity indicates a significant amount of pent-up demand for new rentals, which has allowed rents to move higher and further encourage investors to hold onto their properties” said Shaun Hildebrand, Urbanation’s Senior Vice President.”

“While there are several key drivers that are expected to keep rental transactions in the condo market steady going forward, supply growth is expected to be relatively stronger over the next few years, creating more balanced market conditions and a flatter profile for rents” added Hildebrand.

Please contact me direct at 416-520-6746 or by email, David@DavidStoddard.ca

Toronto Condo Hot List for the Week of Nov.25,2013

Free Condo Tours: The Tour is not designed to find the condo of your dreams. Rather, the Tour provides an opportunity for you to learn about what condos look like in the neighbourhoods and price ranges of your choice. Register Here.

Here are my Top Picks for the Week:

 

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55 East Liberty St. #702

Price: $349,900 Beds: 1 Baths: 0 Sq Ft: 650

Stunning Bright Corner Unit With Totally Unobstructed Views . Spacious Balcony. Many Custom Finishes And Upgrades Such As Built-In Storage Units In The Living Room ,Bedroom And Frameless Shower In The Bathroom Just To Mention A Few. Spacious Laundry…

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58 Marine Pararde Dr. #514

Price: $389,900 Beds: 1 Baths: 1 Sq Ft: 650

Absolutely Gorgeous! Welcome To This Spacious Waterfront Unit With A Rare Over-Sized Terrace. This Designer Suite Has Over 1000 SF Of Indoor/Outdoor Space And Is Move-In Ready. Features Include Beautiful Hardwood Floors Throughout Living Areas, Prof…

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900 Mt. Pleasant Rd. #1003

Price: $568,900 Beds: 2 Baths: 2 Sq Ft: 950

Elegant 900 Mt Pleasant Exclusive Condominiums. Enjoy This Exquisite Sun Filled 2 Bedroom + Den Open Concept Corner Suite With A Spacious Northwest View Open Balcony. Stainless Steel Kitchen With Granite Counter Top, Floor To Ceiling Windows, Endles…

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10 Morrison St. #403

Price: $679,990 Beds: 2 Baths: 2 Sq Ft: 1100

Fashion District Lofts In Trendy King West! Stunning Spacious 2-Bedroom Corner Unit! This Showpiece Suite Features: Hardwood Floors Throughout, 10′ Ceilings With Exposed Concrete, Stainless Steel Appliances, Centre Island With Granite Counters, …

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170 Sudbury St. #413

Price: $329,000 Beds: 2 Baths: 2 Sq Ft: 750

New York Style 2 Bed & 2 Bath Split Layout Loft Is Nestled In Trendy Queen West Village. Sun-drenched Open Concept With Soaring 10Ft Exposed Concrete Ceilings, Ductwork & Floor To Ceiling Windows. Chef’s Kitchen Featuring Stainless Steel Applian…

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Please contact me direct at 416-520-6746 or by email, David@DavidStoddard.ca

The Perils of Helping Kids Buy a Home

Great article in http://www.thestar.com 

With the high price of real estate in the Toronto area, some parents are helping their children buy a first home. It’s always great to help your kids if you can, but you have to think carefully about what you’re doing. This will ensure everyone knows whether it’s a loan or a gift and their obligations going forward.

If it’s a gift, there are no strings attached, but if it’s a loan, there will likely be a second mortgage registered on title to protect the parents. The bank will have to know about it and approve.

In some cases, where the kids cannot meet bank debt-service thresholds because their income is too low, parents are offering to include their own income and then to guarantee the mortgage. This is one solution, but many lenders then want parents on title to the property and to sign the mortgage. This is even if they may hold as little as a 1 per cent interest in the property.

Click here for more.

Here is what you can do next?

Free Tour of any Condo or Home

Let’s Meet for a Coffee: Free Buyer Planning Session.

Free Buyer and Seller Reports:

Please contact me direct at 416-520-6746 or by email, David@DavidStoddard.ca