Toronto Condo Hot List for the Week of May 19, 2014

David Stoddard Condo Tours

 

 

 

 

 

 

 

 

 

Here are my Top Picks for the Week:

 

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1171 Queen St #1310

Price: $499,900 Beds: 2 Baths: 2 Sq Ft: 940

Sun Filled Gorgeous Designer Condo.Floor To Ceiling Windows. South-West Corner Unit. Unobstructed Lake View With 9 Foot Ceilings. Hardwood. Great Layout. Custom Closets, Custom Blinds. Open Concept Kitchen. Inclusions:Stainless Steel: Fridge, Stove,…

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18 Merton St #311

Price: $375,000 Beds: 1 Baths: 2 Sq Ft: 750

Two-Level Loft In Midtown. Steps To Davisville Subway. Full Kitchen With Breakfast Bar. Two-Piece Powder Room On Main Floor. Large Master Bedroom Features Double Closets Furnished With Organizers. 2nd Floor Office Nook With Walkout To 2nd Balcony. F…

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215 Fort York Blvd #1810

Price: $419,900 Beds: 2 Baths: 2 Sq Ft: 850

Waterfront Corner Unit With Many Upgrades. Master Bedroom With 4-Piece Ensuite, Upgraded Kitchen With Extra Pantry,. Granite Counter,. Backsplash And Stainless Steel Appliances. Open Concept Living And Dining. Walk-Out To Balcony. Hardwood. Walking …

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201 Carlaw Ave #245

Price: $519,900 Beds: 2 Baths: 2 Sq Ft: 1100

Bright And Spacious 2-Storey Loft In The Printing Factory. Quartz Countertops, Custom Backsplash. Moulding In The Powder Room, Custom California Closet And Built-In Carrera Marble Counter In The Master. Polished Concrete And Hardwood Flooring. Vault…

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156 Rhodes Ave

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$648,800

MLS#: E2923566

This Stunning Home Has It All. Total Renovation Back To the Studs. Many, Many Upgrades Including A Sump Pump. A Functional Main Floor Open Concept Layout With A Powder Room. Natural Light From Front to Back. Stunning Chef’s Kitchen With A Gas Stove, Counter Space And Storage. The Rear Family Room Overlooks A Small “Al Fresco” Yard. The Master Bedroom Has A 3-Pc Ensuite. A Custom Closet System Has Been installed In The Middle Bedroom. A Well Designed Turnkey Basement Income Suite Or In-Law Suite. Convenient Two-Car Parking. A Beautiful Landscaped Front Yard.

This Home Includes All Electric Light Fixtures, All Window Coverings. Stainless Steel: Fridge, Stove, Dishwasher And Hood-fan. Washer And Dryer. Basement Bar Fridge. Alarm System. The Seller Is Willing To Include Select Items From The Turnkey Basement Income Suite.

Walk To Little India Or Leslieville. The Neighbourhood is Fantastic With Parks, Trails, Restaurants, Shops, Recreation and Schools Nearby. The TTC Is Within Walking Distance. The Walkscore is 92 and The Transit Score is 88.

Enjoy The “ Sense Of Community” On Rhodes Ave.

For more information please visit www.156Rhodes.com

 

Toronto Condo Hot List for the Week of May 12, 2014

David Stoddard Condo Tours

 

 

 

 

 

 

 

 

 

 

Here are my Top Picks for the Week:

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33 Charles St E #1908

Price: $468,800 Beds: 1 Baths: 1 Sq Ft: 635

Casa Condominiums.One Bed Plus Den With An Open Concept Kitchen. Walk Out To A West Facing Balcony. Hardwood Floors. Granite Counter-Top. Inclusions: Stainless Steel :Fridge,Stove,Dishwasher,Microwave. All Electric Light Fixtures. All Window Coverin…

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33 Mill St. #1003

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

Pure Spirit Condos In The Heart Of The Distillery District. A Large East Facing Balcony. Hardwood Floors. A Terrific Layout With Fantastic Natural Light. Inclusions:Stainless Steel : Fridge, Stove, Dishwasher, Microwave Range Hood. Stacked Washer/ D…

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1201 Dundas St E #604

Price: $303,300 Beds: 1 Baths: 1 Sq Ft: 550

Flat Iron Lofts. Industrial Feel. Freshly Painted. High Quality Finishes Throughout. Gas Stove, European Style Kitchen, Inclusions: stainless Steel: Fridge, Gas Stove, Dishwasher, Microwave. Stacked Washer/Dryer. Wire Shelving In Bedroom Closet. All…

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38 The Esplanade St #1107

Price: $599,900 Beds: 2 Baths: 2 Sq Ft: 950

London On The Esplanade. Fully Upgraded. North-East Facing Balcony. A Corner Unit With Floor To Ceiling Windows Giving An Abundance Of Natural Light. An Entertainers Delight With An Open Concept Kitchen, Centre Island, Quartz Caesar Stone Counters, …

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Six Things to Know About Real Estate Deposits

Great article in www.TheStar.com

Here are some answers to common questions about deposits when you are buying a house.

When must a deposit be paid?

In Ontario, the standard real estate contract gives the buyer two choices; you can pay the deposit immediately when you make an offer, or you can agree to pay it within twenty four hours after the seller accepts it. Most buyers prefer the second option. If you are in a bidding war, you will be encouraged to come up with the deposit immediately, to show good faith to the seller.

Can the buyer get out of a deal by refusing to pay the deposit?

No. Once the deal is accepted, you can’t change your mind. If you do, the seller can sell the property again and if he gets less money than you were going to pay the seller can sue you for the difference, plus legal fees.

What happens if the deposit is paid late?

The seller has the right to cancel the deal. This is because all time limits matter in a real estate contract and if you are late, even by a few minutes, the seller can try and cancel. I have seen this happen many times, especially when the seller knows that there is another buyer out there who will pay more money. If you need more time to come up with your deposit, say so in your offer.

How much should a buyer pay as a deposit?

This is a tough question, and will largely depend on where your home is located. In Toronto, deposits are now usually up to 5 per cent of the sale price. In Brampton, it is closer to 2 per cent. In some areas of Ontario, deposits can be as little as a few hundred dollars.

Why does the deposit go to the seller’s real estate agent and not the seller?

If the seller goes bankrupt or disappears with the deposit, the buyer is not protected. When the deposit is held by the real estate brokerage, it is in trust and is also protected by insurance so even if the brokerage goes bankrupt, the buyer can get their money back.

Click here for more.

Here is what you can do next:
David Stoddard Buyer Planning Sessions
Please contact me direct at 416-520-6746 or David@DavidStoddard.ca.

This is Our #1 Investment Pick for 2014

This is our #1 investment pick for 2014.

All of our other picks this year have had amazing platinum Sales (YC Condos, Core).

We have ABSOLUTE FIRST ACCESS with over 40 units exclusively on hold for our clients on FOUR different floors.

ANNOUNCING RC3  CONDOS (RIVER CITY PHASE 3) 

by URBAN CAPITAL

The Top 10 Reasons To Add RC3 Condos (River City Phase 3) To Your Portfolio

10) The Proposed Subway Station

The City of Toronto is about to entire an election for a new Mayor.  A few of the candidates are talking about pushing through the ‘Downtown Relief’ Subway line as part of their platforms.  Once this line begins construction, one of the first new subway stations on the plan will be called Bayview/River Station – located directly below the River City project!

We predict that the announcement of the station alone could drive prices at the River City project up immensely.

9) The Architecture

This building will definitely be one-of-a-kind and remarkable to say the least.  The developers spent years painstakingly designing a project that will stand out in the city, and is sure to win awards for best architecture (Phase 1 also won the ‘architecture of the year’ award).

8) The Neighbourhood

The River City project is the first residential community within the newly revitalized West Don Lands neighbourhood.  West Don Lands is also the site of the Pan Am Village – a massive community being developed to house the athletes for the 2015 Pan Am Games in Toronto.   This brings plenty of new amenities to the area, including retail along the new Front Street extension, fitness facilities, restaurants, and so much more.

7) The Park

Most Toronto residents don’t yet know that the city has just finished developing a huge 18 acre park called Corktown Common, where the entrance to the park is literally at the front door of River City 3.   Imagine being able to take a ‘walk in the park’ every morning and evening at your very own 18 acre park in front of your condominium!

6) The Access

One of the benefits of this unique location is incredible access to all modes of transportation.

BY CAR – you’re 30 seconds away from the entrance to the Don Valley Parkway, and you’re a 5 minute drive to the financial district.

BY STREETCAR/PUBLIC TRANSIT – You have the benefit of living right at the intersection of King Street and Queen Street – both with a streetcar that heads to the core of the city within minutes.  This is a huge benefit to tenants and residents who work in the financial district and can be at work within minutes.  You can also take the streetcar east to the Beaches within minutes as well.

BY FOOT OR BICYCLE – The city is building new paths that connect to the Martin Goodman Trail, so you can literally cycle your way across the lakefront from River City to Etobicoke.  You’re also walking distance to the Distillery District and to Lake Ontario.

5) The Residents

One unique aspect of this project, based on sales from Phases 1 and 2, is that there are many more ‘end users’ buying into the project versus investors.   A typical downtown condo tower will have the majority of suites purchased by investors.  At River City, many of the purchasers are residents who live in the building.  The benefit to investors is huge – more end users and less investors means less competition for tenants, and less turnover on the resale market (i.e. – less supply for leases and resales means higher demand for the project).

4) The Pricing and Floor Plans

While the pricing isn’t finalized, we’re expecting prices to be $100-$150 per square foot LESS than a typical downtown tower in the core of the city – resulting in potential savings of $50,000 to $100,000 or more.

We’ve seen rough architectural drawings for the floor plans and they are incredible – perfect for investors.  Register below to be first investors in the city to see them as well.

3) The First Gulf Commercial Development Next Door

This is one of the biggest benefits to investors.  First Gulf, a huge commercial developer in the city, has bought the land adjacent to the River City area – where they plan on developing a huge commercial center to rival Canary Wharf in London.

The developer is proposing to build 15 million square feet of office space, enough to house 70,000 workers.

The benefit to investors?  River City 3 will be one of the CLOSEST residential projects to this mega development.  With 70,000 NEW JOBS moving to the area, this creates MASSIVE DEMAND for housing.  Imagine owning an investment property closest to this area?

BUY WHERE PEOPLE ARE COMING!!!

2) Amazing Views In Any Direction

The building sits on an angle, with suites having great views in all directions.  You’re either looking at the lake, the park, the skyline, or the city.

1)  Guaranteed and Absolute First Access Before Any Other Agent or The Public

The absolute BEST pricing, incentives, suite selection, and at the LOWEST possible pricing.

THIS IS THE ABSOLUTE BEST DEAL WE’VE EVER OFFERED, 

AND WE EXPECT THESE 40 UNITS TO SELL OUT QUICKLY.

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HERE ARE THE DOWNLOADS: 

BROCHURE:

FLOOR-PLANS: 

INCENTIVES AND INFOSHEET:

EXCLUSIVE PRICE LIST: 

RESERVATION FORM (EXCEL): 

(If you have any issues with the downloads, please let us know and we will email them to you as attachments).

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This Is A Limited Time PLATINUM Release!

I AM INTERESTED IN PURCHASING….WHAT NEXT?

If you are interested in reserving a unit, you have two options:

a) REQUEST A CONSULTATION: We are booking meetings and phone consultations with clients to go over this project.  If you are interested in speaking or meeting with us to discuss this project, please reply to this email or call David at (416) 520-6746.

b) RESERVE IMMEDIATELY: If you know which unit you are interested in reserving, kindly download the Suite Reservation Form, and fill out the details (note, we take privacy very seriously and your information will only be shared with the developer).  You may e-mail the worksheet back to us or fax it to 1-866-248-2303.

We will be reserving suites for clients over the next 7 days, and will be signing agreements May 22-June 1 by appointment only.

Note this is a PLATINUM service….You will have First Access to suites and a personal appointment to sign your purchase agreement. The Best Prices. The Best Layouts. The Best Incentives. No line-ups at a sales centre. No crowds.

We look forward to hearing from you.

Guvernment and Kool Haus Closing

Great article in http://blog.newinhomes.com​

Earlier in May, we posted about the closing of the clubs Guvernment and Koolhaus, two Toronto staples in the East Bayfront area. We speculated about which developer (or developers) would jump on the site to add to the growing neighbourhood.

Well, we didn’t have to wait long. Just last week, Niall Haggart, Executive Vice President of The Daniels Corporation, announced that Daniels purchased the 2.8 acre site, and that we can all look forward to a new master-planned community, which he referred to as “Daniels Waterfront.”

“As the developer of TIFF Bell Lightbox, and with our continuing work in the Regent Park Revitalization, Daniels has created some of Toronto’s most important mixed-use communities, and we look forward to bringing our 30 years of experience in master planning and city building to the corner of Jarvis and Queens Quay,” says Haggart.

With Lakeshore Boulevard to the north, Richardson Street to the east, Queens Quay to the south, and Lower Jarvis at the west, Daniels’ new master-plan will have four very distinctive corners. We are very excited to learn more about the development!

“Daniels shares in Waterfront Toronto’s vision to ‘put people first and reconnect Toronto with the Waterfront’, and we continue to work together with the City of Toronto, Waterfront Toronto and area stakeholders to realize the collective vision of a revitalized waterfront and bring this incredible community to life,” Haggart continued

Click here for more.
Here is what you can do next:
David Stoddard Buyer Planning Sessions

Early Exit From Closed Mortgage Can Cost You Dearly

Great article in www.TheStar.com 

When you buy a house and sign up for a fixed-rate mortgage, you probably don’t ask about the cost of getting out early.

But life is full of surprises — and if you have to sell or refinance before the mortgage term ends, you can be hit with a monstrous penalty.

Take Douglas Clinton Govier Jr., who sold his house this year. He had just over six months left on a closed five-year mortgage with CIBC.

“I was charged over $12,000, which was more than one full year of interest,” he says. “I expected to pay a reasonable penalty, but not one as unreasonable as this.”

He asked on at least two occasions how the penalty was calculated and couldn’t get an answer. He was told that the amount could not be reduced unless he took out another mortgage with the bank.

Here’s the problem: Govier was selling because he couldn’t afford to live in his house any more. He had hoped to use the sale proceeds to pay off bills, but now he was still in debt.

I asked CIBC to review the complaint, but the penalty stayed the same.

“I am truly disappointed and frustrated,” Govier says.

I have a friend named Eric, who was selling his house in Toronto and retiring to Ecuador. He wanted a lower cost of living in retirement.

With 18 months left on his five-year mortgage, he figured he could make an early exit without too much pain. He was stunned to learn otherwise.

“I always knew that cancellation of a mortgage contract involved a penalty of a few months’ interest,” Eric said. “But I’m finding that Laurentian Bank is going to ding me for a $13,000 penalty on a $330,000 balance.”

If interest rates go up after you take out a closed mortgage, you can usually get out early by paying a penalty of three months’ interest. Your lender can sign up a new borrower at a higher rate.

Click here for more.
Here is what you can do next:
David Stoddard Buyer Planning Sessions

Toronto Condo Hot List for the Week of April 28, 2014

David Stoddard Condo Tours

 

 

 

 

 

 

 

 

 

 

Here are my Top Picks for the Week:

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70 Distillery Lane #210

Price: $324,900 Beds: 1 Baths: 1 Sq Ft: 650

Magnificent Distillery Lane Loft . Exposed 10Ft Concrete Ceilings, Upgraded Kitchen. Frosted Glass Sliding Barn Doors. Hardwood Floors, Upgraded Bathroom Cabinetry. Terrific Sunlight. Inclusions: Full Stainless Steel Kitchen With Corian Upgraded Cou…

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8 Dovercourt Rd. #907

Price: $304,900 Beds: 1 Baths: 1 Sq Ft: 480

Award Winning Loft-Condo Building Is Nestled On A Residential Street Yet Only Steps To Trendy Queen And King West. Location Is Ideal . This Excellent Jr. 1 Bedroom Layout Features 9Ft Exposed Concrete Ceilings, Engineered. Hardwood Throughout, Integ…

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165 Legion Rd #1031

Price: $269,000 Beds: 1 Baths: 1 Sq Ft: 550

New California Condos. Open Concept, Bright, South-West Exposure From The Balcony. Laminate Floors. Granite Kitchen Counter. Inclusions: Stainless Steel : Fridge,Stove, Dishwasher, Microwave. Stacked Washer & Dryer. Maintenance Fee $295.00 Per Month…

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90 Broadview Ave. L11

Price: $563,900 Beds: 2 Baths: 2 Sq Ft: 1100

Builders Model Suite. Fully Furnished. Thousands Spent On Designer Furniture, Art And Upgrades.Oversized 2-Bedroom With A Terrific Living/Dining Space. Designer European Kitchen,Stone Counters. Engineered Hardwood Floors Through-Out. Deep Soaker Tub…

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2191 Yonge St #3103

Price: $409,000 Beds: 1 Baths: 1 Sq Ft: 750

Minto “Quantum 2” Over 700sf, Unobstructed South View From The Balcony. Kitchen With Breakfast Bar And Granite Counter-tops. Master Bedroom With His And Hers Closets. Laminate Flooring. Inclusions: Fridge, Stove, Dishwasher, Microwave With Exhaust F…

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BuzzBuzzHome: The Top 10 Neighbourhoods For Condo Construction In Toronto

Great article in www.HuffingtonPost.ca 

The construction crane may as well be the de facto symbol of Toronto, with new buildings going up in just about every corner of the city. Although March data from Statistics Canada suggests that Ontario’s construction explosion is petering out after several big years for building, there’s still plenty of activity going on in Toronto’s condo market today. New projects are breaking ground in the upper reaches of North York all the way to the western waterfront.

As of May 5th, there were 44,589 units under construction in the city. Using our Market Snapshot tool, we’ve crunched the numbers to find out which 10 neighbourhoods are seeing the highest construction concentration in the city.

In first place, the Entertainment District has a staggering 5,565 condo units under construction. That’s roughly 12 per cent of all the units being built city-wide. This particular market won’t be letting up any time soon with 2,651 estimated completions scheduled for 2014 and 2,180 suites scheduled for 2015 so far.

There were two notable trends among the top five neighbourhoods: subway and waterfront access. In a city where residents spend an average of 65.6 minutes a day commuting, it’s no shock that builders are locating so many of their projects along major transit lines.

Whether it’s downtown or the west end, condo units are also popping up all over the waterfront. Humber Bay took second place, with a total of 3,489 units currently under construction while Harbourfront came in fifth with 2,328 units.

Click here for more.

Here is what you can do next:

David Stoddard Buyer Planning Sessions

 

 

 

 

 

 

 

 

 

 

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

Education and Guidance

” David helped my fiancée and I buy our first home this past winter. The entire experience was great because of David’s ability to educate and guide us through the purchasing process. He knew when to be detailed and when to keep it simple. I’ve already recommended David to other friends and would buy another home with David.”

– Josh and Chantal

Yard Sale For The Cure 2014-Davisville Village

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Each year thousands of individuals participate in the Yard Sale for the Cure.

Every dollar raised through Yard Sale for the Cure goes towards breast cancer research, health promotion, advocacy, education and awareness programs

Started in 2005 by Rachel Smith, a breast cancer survivor, who along with friends and family held the first yard sale in the Toronto Beach community. Yard Sale for the Cure, now in its fifth year as a signature fundraising event for the Canadian Breast Cancer Foundation, has raised over $1,500,000.

I am organizing my SECOND neighbourhood yard sale in Davisville Village to be held on May 24 from 8:00am-12:00pm.

Please come out and support a very, very good cause.

The first sale was a huge success with 11 homes participating and donations, both online and through the sale, totalling $2000.00.

If you cannot make it to the sale then please make a donation online.

To make a secure online donation please visit our Canadian Breast Cancer Foundation donation page:

http://my.e2rm.com/PersonalPage.aspx?registrationID=2317349&langPref=en-CA

The Canadian Breast Cancer Foundation is the leading community –driven organization in Canada dedicated to creating a future without breast cancer. Our investments in innovative and relevant research and education have led to progress in breast cancer prevention, diagnosis, treatment and care. Since 1986, we have been at the forefront of a nationwide movement supporting and advocating for the breast cancer community

Let’s make this an amazing event !!!

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Our 2014 sale raised $1000.00 for this great Cause. 

Click here for our Recognition letter.

 

 

Get Your Renovation Details in a Contract

Great article in www.TheStar.com  

I’m about to do a major renovation in my home. What kind of paperwork do I need?

Excellent answers to this question were provided by Toronto lawyer Roger Gillott, a partner with the firm Osler Hoskin & Harcourt, at the Law Society of Upper Canada’s annual Real Estate Law Summit.

Last month’s program is the largest annual gathering of Ontario lawyers and Gillott provided many practical tips about what homeowners should be aware of when planning a renovation — and how lawyers can help them in advising on the contracts.

A renovation contract can be simple or detailed. The final agreement should contain all relevant provisions, and properly balance the risks and obligations of all parties involved.

Gillott set out the essential elements of every contract between homeowners and contractors:

* The scope of the work. Clearly set out who is responsible for every aspect of the job, including providing labour and materials, and obtaining all necessary permits.

* The cost. It may be expressed as a fixed fee, or cost plus expenses and taxes.

* Details of the job. A schedule in the contract which clearly sets out start and completion dates, and what happens if the work is not finished on time.

* How to deal with change, including calculating responsibility for payment of extras outside the original contract.

* Payment milestones, with a timetable for progress payments.

* Construction lien holdbacks. Provision for the required 10 per cent holdback from all progress payments for a period of 45 days

* Provisions for health and safety, insurance, final acceptance of the work, warranties, dispute resolution, default, termination and other issues like limiting noise, debris and dust.

Click here for more.

Here is what you can do next:
David Stoddard Buyer Planning Sessions
Please contact me direct at 416-520-6746 or David@DavidStoddard.ca.

Sales and Average Price Up In March

Free Real Estate Tours: Come on a Free Condo Tour or Free Home Tour.

Free Real Estate Reports: Informative Buyer Reports and Seller Reports available on my website.

FaceBook:  Please join my Real Estate Page here for ongoing real estate news

Greater Toronto Realtors reported 8,081 residential sales through the MLS in March 2014. The number of transactions represented a 7.2% increase compared to 7,537 transactions reported in March 2013.

Home ownership in the Greater Toronto Area remains affordable and there are many people looking to purchase a home.

Sales in Q1 as a whole were up by 3% compared with the first three months of 2013.

The number of new listings reported in March was up 1.4% compared to the same period in 2013. Active listings were 16,543 in March-down 10.0% from March 2013.

“Sales activity in the GTA accelerated last month. Compared to last year, a greater number of buyers found affordable home ownership options, as evidenced by sales growth for all major home types. Against this backdrop, however, overall inventory at the end of March remained lower than last year. This means competition between buyers increased, which is why the average selling price continued to climb ,” said Toronto Real Estate Board President Dianne Usher.

The average selling price continued to grow in March up by 7.8% from the same time last year to $557,684.  Note, the average selling price for 2013 as a whole was up by almost 5.2% to $523,036!! The average price for the first quarter in 2014 was up 8.5% year-over-year.

“With borrowing costs remaining low, and in fact declining, strong home ownership demand will continue to butt up against a constrained supply of listings. Strong price growth will be the result for the remainder of 2014. If the pace of price growth experienced in the first quarter is sustained, TREB may revise its outlook for the average selling price,” said Jason Mercer, TREB’s Senior Manager of Market Analyses.

Sales of Toronto (416 area code) condominium apartments increased by 6.9% from March 2013. The average selling price of a Toronto condo increased  by 5.1% from the same time last year.

Condominium apartments accounted for 23.3% of total sales in the GTA for March 2014 while detached homes accounted for 48.7% of the total sales.

Other notable statistics include the average days on the market for March at 21 days, down 12.5% The sales-to-listings ratio for March was 48.8% which is classified as a seller’s market. A ratio from 24%-28% is considered a balanced market.  

Sellers are looking for market value for their property. I prepare a comparative market analysis (CMA) for all of my Buyer clients prior to submitting an offer to determine the property’s market value range.

Real estate is very neighbourhood specific, building specific  and even very street specific in some areas. The numbers as reported above are GTA averages. Results in one neighbourhood , on one street or in one building do not indicate that all other neighbourhoods, streets or buildings are experiencing the same results. We are still seeing multiple offers in some areas for the best homes and condos. 

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