Building Wealth With Toronto Real Estate

I have received many calls recently from existing clients and referral clients asking me how to invest in the Toronto new condominium market and if an investment can be made under a partnership agreement with a Family member, Friend or Colleague. (My Team Lawyer has prepared such an agreement for my Clients)

Some of my clients who are parents are worried about the price of housing stock when their children finish university. It may be far down the road for some parents but the reality is certain. The average price of a Toronto condominium today is $466,000. Can you imagine 10 years from now?

Many of my clients have a strong equity position in their home so the thought of building their wealth through Toronto real estate is top of their mind.

Some of my clients have Family, Friends and Colleagues who would like to invest with them as partners.

As the affordability of freehold properties is becoming out of reach to many buyers and investors alike, the Toronto new and resale condominium market is becoming the home type of choice. In the last six months I have seen an extreme tightening in this housing sector in resale transactions, rental transactions and new construction sales. The condo rental vacancy rate in Toronto is hovering around 1.8%.

There are many pricing stages of a new condo launch.  At each stage of the sales process there is typically a price increase.  I have seen price increases up to 25%. A typical condo launch will have SIX stages of pricing. So if you are thinking you are getting a sweet deal on the best layouts by walking into the sales office, you are wrong. Once the sale office opens it is at the end of the pricing cycle.

I have relationships with high volume Platinum Brokers in the City who have the best relationships with condo developers. Buying at the platinum pricing level is like buying wholesale. We all like wholesale pricing!

To learn more about opportunities in the Toronto new condominium market please give me a call (4165206746), email me (David@DavidStoddard.ca) or text me (4165206746). We can meet for a coffee.

If you would like to speak with existing clients who have ventured into this area of investing I can certainly provide their contact information.

There are many terrific projects scheduled for release in the coming weeks and months.

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.

RE/MAX 2017 Housing Market Outlook Report

HIGH DEMAND AND LOW SUPPLY CONTINUED TO CHARACTERIZE VANCOUVER’S AND TORONTO’S HOUSING MARKETS THROUGHOUT 2016 AS COMPETITION FROM BUYERS FOR LIMITED INVENTORY OF SINGLE-FAMILY HOMES PUSHED PRICES HIGHER.

The average residential sale price increased 13 per cent in Greater Vancouver to approximately $1,020,300 and rose 17 per cent in the Greater Toronto Area (GTA) to an estimated $725,857. Although demand remains high in both urban centres, limited inventory in the freehold market, the new 15 per cent foreign-buyer tax in Vancouver and the recent tightening of mortgage rules by the federal government are expected to soften market activity in the short term. In 2017, RE/MAX estimates average residential sale price will increase by two and eight per cent in Greater Vancouver and the GTA respectively.

Regional markets in close proximity to Canada’s highest-price cities continued to experience steady interest from local move-up buyers and buyers from these cities (“move-over” buyers) who are looking to find a balance between affordability and square footage. This year there were considerable year-over-year average price increases in Barrie (16 per cent), Hamilton-Burlington (20 per cent), the Fraser Valley (20 per cent) and Kelowna (14 per cent).

For the full report click HERE.

For all of your real estate questions please contact me direct (416-520-6746) or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.

GTA Real Estate Market Report November 2016

Tighter Market Conditions in November

Greater Toronto Realtors reported 8,547 residential sales through the Toronto MLS system in November 2016. The number of transactions in November represented a 16.5% increase compared to 7,337 transactions reported in November 2015.

For the region as a whole, strong annual rates of sales growth were experienced for all major home types. The pace of semi-detached sales growth was slower in the City of Toronto. The year-over-year dip in new listings was likely the issue.

Condo apartments in the GTA had the highest sales increase year-over-year at 25.8%.

The number of new listings reported in November was down 10.3% compared to the same period in 2015. Active listings were 8,639 in November-down 35.8% from November 2015.

“Home buying activity remained strong across all market segments in November. However, many would-be home buyers continued to be frustrated by the lack of listings, as annual sales growth once again outstripped growth in new listings. Seller’s market conditions translated into robust rates of price growth,” said Larry Cerqua, TREB’s President.

The average price in November was up by 22.7% from the same time last year to $776,684. Detached homes in the GTA led the way in terms of an average price increase at 27.6% compared to the same time last year.

“Recent policy initiatives seeking to address strong home price growth have focused on demand. Going forward, more emphasis needs to be placed on solutions to alleviate the lack of inventory for all home types, especially in the low-rise market segments,” said Jason Mercer, TREB’s Director of Market Analysis.

Sales of Toronto (416 area code) condominium apartments increased by 27.9% in November 2016. The average selling price of a Toronto condo increased by 13.5% in November 2016 from the same time last year to $471,256.

Condominium apartments accounted for 28.2% of total GTA sales in November while detached homes accounted for 45.5% of the total sales.

Other notable statistics include the average days on the market for November at 17 days, down 34.6%. The sales-to-listings ratio for November 2016 was 98.9% which is classified as a very big 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.

For all of your real estate questions please contact me direct (416-520-6746) or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.

GTA Real Estate Market Report October 2016

October Home Sales Up Year-Over-Year

 

Greater Toronto Realtors reported 9,768 residential sales through the Toronto MLS system in October 2016. The number of transactions in October represented a 11.5% increase compared to 8,759 transactions reported in October 2015.

For the region as a whole, strong annual rates of sales growth were experienced for all major home types. The pace of detached and semi-detached sales growth was slower in the City of Toronto. In both cases, the year-over-year dip in new listings was likely the issue.

Condo apartments in the GTA had the highest sales increase year-over-year at 22.2%

The number of new listings reported in October was down 0.9% compared to the same period in 2015. Active listings were 10,563 in October-down 34.7% from October 2015.

“The record pace of GTA home sales continued in October, with strong growth observed throughout the month. As we move through November and December, we will be watching the sales and listings trends closely, in light of the recent policy changes announced by the Federal Minister of Finance,” said Larry Cerqua, TREB’s President.

The average price in October was up by 21.1% from the same time last year to $762,975. Detached homes in the GTA led the way in terms of an average price increase at 25.8% compared to the same time last year.

“New listings were up slightly in October compared to last year, but not nearly enough to offset strong sales growth. This meant that seller’s conditions continued to prevail as buyers of all home types experienced intense competition in the marketplace. Until we experience sustained relief in the supply of listings, the potential for strong annual rates of price growth will persist, especially in the low-rise market segments,” said Jason Mercer, TREB’s Director of Market Analysis.

Sales of Toronto (416 area code) condominium apartments increased by 19.8% in October 2016. The average selling price of a Toronto condo increased by 12.9% in October2016 from the same time last year to $459,199.

Condominium apartments accounted for 27.7% of total sales in the GTA for October 2016 while detached homes accounted for 46.1% of the total sales.

Other notable statistics include the average days on the market for October at 16 days, down 27.3%. The sales-to-listings ratio for October 2016 was 92.5% which is classified as a very big 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.

For all of your real estate questions please contact me direct (416-520-6746) or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.

Amazing Clients! Amazing Results!

” Real estate agents are a dime dozen, but quality realtors are very hard to come by. As a first time home buyer I was very skeptical about the process and very weary of all the traps that are set out by agents and brokers to swindle uninformed consumers of their hard earned money. With David Stoddard I was able to be very transparent with all my concerns for which he had great answers every time. I learned a great deal about the market and the process and was able to confidently land an amazing property in the Distillery District in November this year. If you are a first time home buyer who wants to make an educated choice I highly recommend David and his team. No surprise fees, no unexpected scenarios, my purchase and experience was very smooth. He knows the market very well and is very realistic about what worked for me and what didn’t. He suggested a mortgage broker who got me into a very good mortgage with a boutique lender. I had an accountant friend of mine look over the deal and he was surprised by the conditions and flexibility of the mortgage. I am very satisfied with his services and highly recommend him as an agent!

Thanks David.”

– Clinton B.

 

Please contact me direct at or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.

 

9 Reasons You Need an Agent to Help You with the Real Estate Process

The January E-Report offers 9 reasons why it is a MUST to have a reputable real estate agent in your corner whether you are selling a home or buying a home.

Click HERE for my client testimonials.

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

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page.

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them