May 2012 Newsletter

If you're thinking about buying a condo, there are various personal and financial factors you'll want to consider. This month we examine some of the condos and condon'ts. We also discuss a few security precautions to help make sure your Facebook account never gets hacked as well as some tips on how to keep fresh cut flowers strong and healthy. Thanks so much for checking out this month's newsletter. Please let us know if you have any questions or comments regarding the articles or real estate in general -- it'd be great to hear from you! Armand

Toronto Market Remains Tight with Sales Up in April Condo Conundrum -- Freedom vs. Freedom Friends, Foes and Facebook Woes Fresh Cut Flowers Forever

Toronto Market Remains Tight with Sales Up in April

Greater Toronto REALTORS® reported 10,350 transactions through the TorontoMLS System in April 2012. This level of sales was 18% higher than the 8,778 firm deals reported in April 2011. The strongest sales growth was reported in the single-detached market segment with transactions of this home type up by 22% compared to a year ago. “Interest in single-detached homes has been very high, both in the City of Toronto and surrounding regions. Growth in single-detached listings has not kept up with demand, which means competition between buyers in this market segment increased. With this in mind, it was no surprise that the strongest annual price increase was also experienced in the single-detached segment,” said Toronto Real Estate Board President, Richard Silver. The average price for April 2012 transactions was $517,556 – up 8.5% compared to April 2011. While price growth was strongest for single-detached homes, the better-supplied condominium apartment segment experienced a more moderate annual rate of price growth, at 4%. “Monthly mortgage payments remain affordable for home buyers in the Greater Toronto Area. While interest rates are generally expected to increase over the next two years, the extent and timing of rate hikes has been thrown into question by slower than expected economic growth in the first quarter of this year. On net, borrowing costs are expected to remain a positive factor influencing home sales through 2012,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Condo Conundrum -- Freedom vs. Freedom

Condos appeal to virtually everyone from young urbanites who want to be in the heart of the action to seniors who just want to relax and enjoy their golden years playing tennis and relaxing by the pool. Condos are very low maintenance which means you don't have to spend your weekends cutting the grass and cleaning the gutters. They also offer enhanced security features which is perfect for those who like to travel. Living in a condo is a lot like living on a resort. Some condos even offer room service! Convenience comes at a price though in the form of condos fees which can be costly depending on the amenities offered by the complex. That said, condos are often very affordable compared to single family homes. When you buy a condo, you don't own the land beneath you. You instead share a common interest with others in the complex which means you'll be subject to rules and regulations which can dictate anything from the type of planters you’re allowed to display to the kinds of blinds you can hang. Joint ownership also means you'll be in close contact with your fellow condo owners. Some people love the sense of community condos offer but for those who value their privacy, condo living can be a difficult adjustment. Pets are another key consideration as Fido may not be welcome in some buildings. If your real estate vision includes extensive renovations, condo living may not be for you as your options may be limited. If however you'd rather spend your time chilling by the pool instead of painting shutters, the low maintenance factor may be just what you're after. It's really a choice of freedom vs. freedom.

Friends, Foes and Facebook Woes

Imagine if someone hacked into your Facebook account, changed your password and started posting inappropriate comments and obscene images. You'd be forced to sit and watch your reputation go down the drain. Here are a few ways to avoid social media suicide: ix38wqPc - Make sure you have a really strong password that's at least 8 characters long with a mix of numbers and letters that are both upper and lower case. https: - It's important to encrypt your connection if you access your account via public Wi-Fi hotspots. Just click on "Account Settings", "Security" and then enable "Secure Browsing". Play Hard to Get - Information such as your date of birth and your mother's maiden name make it easy for thieves to steal your identity. Select "Privacy Settings" to limit who's able to view your details. Trust Your Gut - Phishing scams that reveal your personal details to hackers are rife on Facebook so always be aware of what you're clicking on no matter how tempting it is. If in doubt, Google it! Social media sites are virtual candy stores for hackers and thieves. It's easy to let your guard down when you're in the company of "Friends" who are eager to share their personal details but if you use common sense (and a strong password) you'll avoid what could be a very socially awkward experience.

Fresh Cut Flowers Forever

If you're fortunate enough to be on the receiving end of fresh cut flowers, you'll want to make sure they stay healthy for as long as possible. Here are a few tips that will extend their life expectancy: don’t display them in direct sunlight or near drafts move them to a cool spot when you’re not around cut the stems on an angle and remove excess foliage change the water each day and add a splash of lemon juice These are just a few ideas to help keep your flowers strong and healthy. There are other more controversial methods such as adding bleach, vodka, and aspirin to the water but if you follow the tips above, your flowers will enjoy an extended lease on life.