Toronto Central Real Estate

2012-01-18T07:23:00.001-08:00

Great article on sharpening knives including a video. The Star http://ping.fm/sTLYz

2012-01-08T04:35:00.001-08:00

If you buy a house this is worth a read. http://ping.fm/vHdEG

2011-09-19T15:32:00.001-07:00

Blending vintage and modern Toronto in Davisville Village,The Star http://ping.fm/lAojT

2011-06-19T07:32:00.001-07:00

The best insurance rates can be found on line. Lorraine Sommerfeld, The Star http://ping.fm/rPAww

2011-06-19T07:26:00.001-07:00

'Condo Law'. Board is required to update reserve fund studies every 3 tears. Gerry Hyman Toronto Star http://ping.fm/1VUlb

2011-06-19T07:23:00.001-07:00

New cordless power tool batteries are fantastic. Steve Maxwell, Toronto Star http://ping.fm/hknDA

2011-06-19T07:20:00.001-07:00

It may be time to reconsider exteneded warranties for large household appliances.'Trash Talk' Toronto Star http://ping.fm/QSOr7

2011-06-14T18:07:00.001-07:00

Team Bosley had another great ride for Heart and Stroke Foundation http://ping.fm/CmBaf

2011-05-30T18:36:00.001-07:00

Why renting cottages works for me. Ellen Roseman. Moneyville.ca http://ping.fm/2j7t6

2011-05-30T18:34:00.001-07:00

Drop in mortgage rates likely to last for a while. Moneyville.ca http://ping.fm/dYwrO

2011-05-30T18:32:00.001-07:00

CMHC ups Toronto real estate market forecast. Moneyville.ca http://ping.fm/zyBTd

2011-05-30T18:30:00.001-07:00

7 ways to stretch your cottage buying dollar. Moneyville.ca http://ping.fm/hRhIv

2011-05-16T06:41:00.001-07:00

Why I wouldn't sell my house myself. Moneyville.ca http://ping.fm/fHcLX

2011-05-16T06:40:00.001-07:00

How to Move Without Breaking The Bank. Moneyville.ca http://ping.fm/qKKU6

2011-05-09T05:38:00.001-07:00

Are gas station loyalty programs a waste of time? Moneyville.ca http://ping.fm/wRiYM

2011-05-09T05:37:00.001-07:00

Three things to know about loyalty cards. Ellen Roseman. Moneyville.ca http://ping.fm/NUlRp

2011-05-09T05:35:00.003-07:00

12 questions to ask when buying a GPS unit. Moneyville.ca http://ping.fm/UxNJL

2011-05-09T05:35:00.001-07:00

Home Buyers Beware When Going It Alone. Moneyville.ca http://ping.fm/z2jEG

2011-04-28T04:16:00.001-07:00

Ten Fees You Should Avoid - Moneyville.ca http://ping.fm/cOtCH

2011-04-27T08:05:00.001-07:00

Consumer confidence rests on the housing market. The Globe and Mail http://ping.fm/0YT3L

2011-04-27T08:03:00.001-07:00

Tips for Spring home buying. The Globe and Mail. http://ping.fm/ljxas

2011-04-27T05:54:00.001-07:00

Great news! Temporary parking permits being approved. The Star. http://ping.fm/5Y7U5

Metro Place 1070 Sheppard Ave W

2011-04-08T07:00:00.000-07:00

Metro Place 1070 Sheppard Ave W

225 Davenport Rd "The Dakota"

2011-04-08T06:59:00.000-07:00

225 Davenport Rd "The Dakota"

797 Lakekands Ave Innisfil ON

2011-04-08T06:58:00.000-07:00

797 Lakekands Ave Innisfil ON

2011-03-28T10:45:00.001-07:00

Ways to save that won't anger the taxman. The Globe and Mail. http://ping.fm/caLgM

2011-03-28T10:42:00.001-07:00

Nothing like a cancelled cheque to prove you paid. Moneyville.ca Also, Canada Revenue Agency still insists on cancelled cheques. http://ping.fm/XDUUP

2011-03-28T10:35:00.001-07:00

Securing your credit. Tips on how to avoid credit card fraud. Moneyville.ca http://ping.fm/hRqCQ

2011-03-28T10:31:00.001-07:00

Finessing escape from a mortgage. Some very helpful tips from Ellen Roseman at The Star. http://ping.fm/50XSa

2011-03-24T05:33:00.001-07:00

Basic Fixes to Help Sell Your House. Moneyville http://ping.fm/WNv3a

2011-02-17T15:11:00.001-08:00

TREB reports mid month Feb results for the GTA. Sales are below the record of last year but prices continue to show good increases http://ping.fm/1Z5jM

2011-01-25T09:14:00.000-08:00

Home Energy Retrofit Grants – Deadlines for Eligibility

January 24, 2011 -- The federal and provincial governments provide grants to homeowners who undertake renovations that improve the energy efficiency of their homes. These programs are coming to a close as of March 31, 2011. See deadlines for eligibility below.

Details

•Before undertaking any renovations, homeowners must first have an energy audit of their home performed by a licensed service organization (list of auditors provided at government web site address provided below). The evaluation report provides customized recommendations for renovations to improve the energy efficiency of the home. Once the homeowner has completed the renovations, a second audit must be undertaken within 18 months of the first one to determine the change in the home’s energy efficiency.

•Deadlines for eligibility: Home energy retrofit grants are provided by both the federal and provincial governments. Both programs are ending as of March 31, 2011. To be eligible for federal grants, homeowners must have booked a pre-retrofit audit BEFORE March 31, 2010 and have the post-retrofit audit completed by March 31, 2011, or within 18 months of the date of the pre-retrofit evaluation (whichever comes first). Homeowners who booked a pre-retrofit audit AFTER March 31, 2010 can only access grants from the provincial government, but must also complete their post-retrofit audit completed by March 31, 2011.

•For more information visit:◦http://www.mei.gov.on.ca/en/energy/conservation/ohesp2/
◦http://oee.nrcan.gc.ca/residential/personal/grants.cfm?attr=0

2011-01-18T07:44:00.001-08:00

What changes to mortgage rules mean for you - Ellen Roseman, The Star. http://ping.fm/Erv3y

2011-01-16T08:22:00.001-08:00

A fascinating look at projected population growth for Toronto GTA. There are 2 links http://ping.fm/bIF9v http://ping.fm/zU6Vr

2011-01-11T06:20:00.001-08:00

Businesses ready to start hiring - Central Bank likely to hold off on raising rates. http://ping.fm/FLnp1

2010-12-20T05:21:00.001-08:00

To park or not to park: Toronto driveway rules to be clarified http://ping.fm/P50dN

2010-12-19T07:57:00.001-08:00

Canada ranks 3rd in the world in educational well being, 4th in math and science literacy. The USA 19th, 13th and 24th. http://ping.fm/lHZkC

2010-12-18T08:34:00.001-08:00

E-books. Borrowing without visitng. One of the best things about my Sony Reader is downloading books from the library http://ping.fm/YbYCB

2010-11-22T14:26:00.001-08:00

Researching your house’s history is Robin Burgoyne’s business. Toronto Star
http://ping.fm/5a21r

2010-11-22T14:18:00.001-08:00

What will Toronto look like in 2034? A whimsical look at the future by Christopher Hume, Toronto Star http://ping.fm/FBSJI

2010-11-22T14:14:00.001-08:00

New home sales up in GTA - Condos account for 70% of new home sales http://www.moneyville.ca/article/894950--new-home-sales-up-in-gta?bn=1

November market commentary

2010-11-19T19:54:00.000-08:00

We are presently going through a correction phase in our Toronto and Canadian real estate markets that is spawning all types pf press and forecasts of a more moderate market ahead, and even more about doom and gloom. Even when there is a nugget of bright news, it often gets buried or written in such an obscure way that most people just miss it altogether.

In my opinion, there are a number of important items to be aware of today and for the coming markets.

*First, the current 'weakness' is comparing against a very strong post recession recovery last year. Total sales for this year will be the third highest level of sales ever recorded for the Toronto GTA market.

*September and October both followed the seasonal pattern of increasing from the previous month. Remember the hype about June and July sales decreasing? They have both decreased vs the previous month in 8 of the last 10 years. Doom and gloom, or a normal seasonal market? You decide.

*Average sales prices continue to grow at +5 to +6% above last year. Many neighborhoods (se below) are seeing wild swings in prices as the mix of homes shifts from month to month.

*Good quality, well prepared, properly priced and well marketed homes are selling quickly. As an example, I recently sold a home in one week for 17% more than my clients bought it for a year ago (they didn't do any major renovations). One of my colleagues sold her home and had 11 offers on it.

*The condo market is generally very strong. There are some exceptions where the market is mature and heavily built. Sales along the newer sections of the Sheppard subway are booming, as are most developments in the midtown core.

*We are starting to see more positive signs in the higher priced market, but that could be affected by any delay in the proposed repealing of the Toronto Land Transfer Tax.

*The affordability index is still very positive, showing that most people can afford to be in the market.

*Interest rates are continuing to drop, now as low as 3.39% for 5 year fixed, with some people predicting that they will go as low as 2.99% (don't hold your breath on that one).

Those are some of my thoughts on the current market and where things are headed. If you agree, or not, I'd like to hear you views. Email me at armand@armandgilks.com

In this issue of my newsletter we have a number of interesting articles in addition to the market stats.

To have a look at my current newsletter including detailed market stats click here.

2010-11-19T18:51:00.001-08:00

Pat Burns RIP http://ping.fm/pPtgb

2010-11-19T17:19:00.001-08:00

This is a must watch video from the Australian drinking and driving campaign. Please watch and pass it on. http://ping.fm/VPpyB

2010-11-09T07:27:00.001-08:00

Is your front pad parking licenced? Check here. http://ping.fm/XhnAc

2010-11-09T06:25:00.001-08:00

No housing bubble - BMO. Moneyville.ca http://ping.fm/PGRTY

2010-11-08T10:52:00.001-08:00

This has got to be the best real estate commercial ever. http://ping.fm/c0GMs

2010-11-08T07:28:00.001-08:00

Selling a Home on Your Own? 5 things to consider - Moneyville.ca http://ping.fm/J0UBG

2010-11-08T07:26:00.001-08:00

Home Inspection Conditions Must be Carefully Understood - Moneyville.ca http://ping.fm/EQG6k

2010-11-08T07:24:00.001-08:00

TREB. Resale housing Market Still Strong http://ping.fm/nvYGA

2010-11-08T07:21:00.001-08:00

Tips for Buying a Resale Condo - Moneyville.ca http://ping.fm/nQ45q

2010-11-02T09:40:00.001-07:00

Is the Strong GTA condo market starting to show signs of strain? http://ping.fm/pjz9Z

2010-10-26T08:14:00.001-07:00

When it's right to retn a home http://ping.fm/3Fb8k

2010-10-26T08:07:00.001-07:00

New condos at the King Eddie blend historical & architectural values http://ping.fm/E5KFp

2010-10-24T11:13:00.001-07:00

Food for thought. Economists are warning of 'Japanification" the deflationary trap that spirals down. NY Times. http://ping.fm/xy1SG

2010-10-24T11:06:00.001-07:00

How men and women differ in home-buying stress. Toronto Star. http://ping.fm/yDMni

2010-10-23T06:56:00.001-07:00

Condos in 416 will be in highest demand says industry leaders poll - Stephen Dupuis, Toronto Star. http://ping.fm/JvUJO

195 Church St 3BR, deep lot, private drive

2010-10-21T17:50:00.000-07:00

New listing!
195 Church St., Weston Village.
$379,000

2010-10-21T07:09:00.001-07:00

"Toronto Area new condominium market not top heavy with inventory...it could potentially be undersupplied." says Realnet. http://ping.fm/16Mlr

2010-10-16T07:26:00.001-07:00

Gerat open house in Old Weston Village. S/S 2-4. 195 Church St. http://ping.fm/hdlAf

2010-10-14T13:31:00.001-07:00

Just listed 195 Church St Old Weston Village. OH S/S 2-4. 3BR 1 1/2 stry Renoed. Pr drv. http://ping.fm/iquLU

2010-10-13T04:11:00.001-07:00

TD & BMO cut mortgage rates amid falling bond yields. Discounted 3.49% could go lower. http://www.moneyville.ca/article/874064--bmo-td-cut-mortgage-rates-amid-falling-bond-yields

2010-09-18T07:03:00.001-07:00

Thompson and Ford would abolish the Toronto Land Transfer tax. http://ping.fm/7pRme

2010-09-18T07:00:00.001-07:00

BUILD Toronto plans 3,000 homes near Sheppard and Allen's Downsview Park. http://ping.fm/eNRiN

2010-09-18T06:56:00.001-07:00

David Olive writes "Little foundation for housing burst fears" http://ping.fm/2xzVO

September 2010 Market Update

2010-09-13T18:29:00.000-07:00

Selling prices were seasonally lower from July to August, but generally continued to trend well above the average from August 2009. Sales volumes, however, continued to trend well below last year’s levels.

This was a reflection of a number of factors – comparing against a strong recovery period last year, many buyers moving their purchase earlier in the year and a very limited choice due to low inventory levels.

The outlook for this fall looks quite promising with a lot more buyers seeming to be active and a lot of new listings already hitting the market in anticipation of a good fall market. We are also seeing some positive news reports on the state of the economy and the real estate market which is helping to boost buyers confidence levels.

You can check out some of these articles on my blog at www.torontocentralhomes.blogspot.com

Greater Toronto REALTORS® reported 6,232 sales through the Multiple Listing Service® (MLS®) in August 2010. This represented a 22 per cent decrease compared to the 8,035 sales recorded duringthe same period in 2009. New listings decreased by one per cent year-over-year to10,488.

“The prospect of interest rate hikes and new mortgage lending rules prompted some households to purchase a home sooner than they otherwise would have this year. The result has been a larger than normal dip in sales over the summer months.

With this said, it is important to recognize that sales on the year were eight per cent higher than in 2009,” said Toronto Real Estate Board President Bill Johnston.

The average price for August transactions was $411,012 – up six per cent compared tothe average of $387,921 reported in August 2009.

“Market conditions have remained tight enough to support higher home prices in comparison to last year. Under current mortgage lending standards, a household earning the average income in the GTA can comfortably afford the mortgage payments on an average priced home. Market conditions and the affordability picture would have to change dramatically before a sustained drop in the average selling price would take place,” said Jason Mercer, TREB’s Senior Manager of Market Analysis..

How to Plan a Successful Open House
Having an open house is a lot of work so if you decide to do it, you’ll want to ensure it's a success. Here are some tips that'll have your home looking its best on the big day:

De-Clutter - Clearing out clutter makes your home appear much larger so remove personal items like photos and souvenirs. Also, put away small appliances to increase your counter space.

Deep Clean - Thoroughly clean your home from top to bottom. Serious buyers will look everywhere including under the kitchen sink so make sure everything's neat and tidy.

Lighten Up - Wash your windows and open up the drapes and blinds to let in as much natural light as possible. Turn on all the lights and put out some fresh flowers to brighten things up.

Blooming Beautiful - Buyers are looking for a tranquil outdoor setting to relax in so cut the grass and pick up the kid's toys. While you're at it, pull out some weeds and plant a few flowers.

The Nose Knows - Baking just before an open house will leave a pleasant aroma that'll remind people they’re in a home rather than a house. You can even leave some out for your visitors!

Seasonal Pics - If your open house occurs during the winter, showcase your garden by displaying some photos of what your yard looks like during the summer when it’s at its best.

Don't Delay - There’s always a buzz when a new property hits the market so the sooner you schedule your open house, the more traffic you'll generate.
The day of your open house should find your home sparkling! Potential buyers need to envision themselves living in your home so in order to make them feel more comfortable, you and your pets should leave ahead of time so your real estate agent can focus on selling your home.

Do You Know How Your Credit Score Works?
By Ellen Roseman - Toronto Star

Your credit score is a three-digit number that can determine whether or not you get a loan and at what rate.
Many insurance companies also use credit scores to decide what you pay to protect your home and belongings from damage.

So, what does your credit score say about you? How can you get it? And how can you improve it?

Credit scoring was developed by Fair Isaac & Co. in the United States to help credit bureaus assess the risk to lenders.
Equifax, one of Canada’s two major credit bureaus, is licensed to use the FICO score, known as the Beacon score here. Its rival, TransUnion, uses a slightly different score (called Empirica).

Your credit score is not the same as your credit report, which shows your payment history. The credit report is free for you to check, but you can’t get your credit score without paying $15 to $25 or so to check it online.

Ignore any offers of free credit scores. They’re only teasers to sell you something else, such as a monthly credit monitoring service.

Eric Putnam spent 26 years in consumer lending before starting a company, Debt Coach Canada. He charges a monthly fee to people who want help organizing their finances and improving their credit scores.

I asked him what goes into a credit score – a secret guarded carefully by the credit bureaus.
The biggest part of the score (35 per cent) is your payment history, he says. This shows if you pay bills on time, have any unpaid debts or have been through bankruptcies, consumer proposals or debt management plans.

Another big part (30 per cent) is based on how much you owe.
If you carry an $8,000 balance on a credit card with a $10,000 limit – even if you pay the minimum on time each month – your credit score will drop. So, it pays to keep your balances down and not get close to your credit limits.

Another 15 per cent of your credit score is based on how long your accounts have been open and used. You may be a newcomer to Canada with no record of loans or someone whose spouse takes care of all credit transactions.

To be seen as a good credit risk, it’s not enough to be approved for credit. You have to use the credit you’re given.
Another 10 per cent of your credit score depends on the balance between revolving credit (such as credit cards) and instalment loans (such as mortgages or car loans).

Lenders like to see both types of credit. Revolving credit can be maxed out since the rates are high enough to absorb losses, while instalment loans with fixed payments must be approved and supervised closely.

The remaining 10 per cent of your score is based on how much new credit you’ve obtained or applied for. This shouldn’t be too high a percentage of all the credit shown on your file.

If you’re shopping for credit, do it within a 15-day period, Putnam says, since that will show as one credit inquiry.
Otherwise, do your shopping with a copy of your credit score, which you can show to lenders to find out what they will offer you.

Banks may give the three-digit number if you ask, but they’re not supposed to give the context that goes with it.

For information, go to www.equifax.ca and www.transunion.ca. You can also read the Financial Consumer Agency of Canada’s publication, Understanding your Credit Report and Credit Score, at www.fcac.gc.ca.

Ellen Roseman writes about personal finance and consumer issues. You can reach her at eroseman@thestar.ca, 416-945-8687 or ellenroseman.com

Don’t Cry Over Split Blood
Have you ever had to throw away a piece of clothing because of a small blood stain? If you don't have immediate access to a washing machine before the stain sets, there's another option to consider.

A simple and effective way to remove blood from fabric is to immediately dab some of your own saliva directly onto the stain. Saliva contains certain digestive enzymes that help break down the proteins in blood. This method isn't practical for large stains but if it's just a few drops, it should do the trick.

2010-09-12T08:25:00.001-07:00

"Waiting game rarely pays off for Buyers... You can't go wrong if you are buying for the right reasons-shelter, security and long term growth." Stephen Dupuis, President BildGTA. http://ping.fm/UoMFH

2010-09-12T08:21:00.001-07:00

Business as usual. Developers and brokers are feeling bullish and pressing on with plans for fall launches. But some industry observers have raised the spectre that Torontoâ€™s condo-building frenzy could lead to an oversupply.
George Carras, president of RealNet Canada, maintains that such fears simply arenâ€™t borne out by the numbers.â€œThe market is fine in terms of both demand and supply,â€ he says. In fact, with the curbing of lowrise home construction around the GTA as a result of provincial policy â€” which has mandated intensification of existing residential areas â€” Carras thinks Toronto could be faced with the opposite predicament.
â€œInstead of oversupply, I think we may not be able to actually deliver enough highrise units,â€ Carras notes that approximately 80,000 newcomers move to Toronto each year, about 40,000 new units annually are required to have a â€œperfectly housed market.â€ http://ping.fm/15vlG

2010-09-09T06:06:00.001-07:00

Housing market not in â€˜free fall,â€™ says Conference Board. http://ping.fm/lEA2B

2010-09-06T07:22:00.001-07:00

Do you understand how your credit score works? Have a look at this by Ellen Roseman: Hereâ€™s the scoop on your credit score. http://ping.fm/j5jVb

2010-09-01T15:50:00.001-07:00

Good counsel from the Sage. John Heinzl talks about his favourite piece of investing advice. http://ping.fm/dYTQG

2010-09-01T15:46:00.001-07:00

The power of words. Consultant Patrick Oâ€™Neill says seven words can transform your relationships. http://ping.fm/O5BgL

2010-09-01T15:44:00.001-07:00

No housing bust here: CD Howe. Different Canadian regulations mean there will be no â€˜massive wave of defaults,â€™ think tank says. http://ping.fm/E8WBf

2010-08-29T12:23:00.000-07:00

Greetings!

We are continuing to see much slower sales than last year at this time and average prices, while still running above last year are showing much more moderate growth (+6% average increase). This varies widely by neighborhood.

In most neighborhoods, prices are lower than last month which is a normal occurrence for this time of year. Inventory levels are significantly reduced, giving buyers a poorer selection from which to choose.

The general expectation is that we will see a seasonal increase in market activity this fall, but that the general trend that we have been watching for the past few months will continue. There is no real consensus among the ‘experts’ who normally try to predict market trends as this is a very confusing time, not only in Toronto, but globally.

My personal observation is that there are still a lot of buyers out there, but they are as confused as anyone and are waiting to find the perfect house.

This actually a very good time to be buying if you do find a home that suits you, as there usually is not much competition and you may be able to negotiate a bit on price. Interest rates are up slightly but still very affordable. There should be no reason not to buy.

The details by type of home and area are shown below.

Greater Toronto REALTORS® reported 6,564 sales in July – a 34 per cent dip from the record 9,967 sales reported in July 2009. New listings, at 10,825, dropped to the lowest level for the month of July since 2002.“The level of July sales remained below the expected long-term trend.

The market has become more balanced following record monthly sales through most of the winter and early spring,” said Toronto Real Estate Board (TREB) President Bill Johnston. Total sales through the first seven months of 2010 were up by 12 per cent compared to the same period in 2009.

Notwithstanding the fact that price trends vary at the neighborhood level in GTA, the average price for July transactions was $420,482, representing a six per cent increase over July 2009.Over the first seven months of 2010, the average selling price was up 12 per cent annually to $432,253.

See Summary Of July Sales And Average Price Below:

Housing Market Price Trends by Type of Dwelling and Area – Total GTA

Detached Feb‘10 Mar’10 Apr’10 May’10 June’10 July’10
Average Price $453,000 $541,535 $542,348 $550,739 $543,884 $518,453
% chge vs Yr Ago +22% +24% +14% +13% +10% +6%

Semi-detached Feb‘10 Mar’10 Apr’10 May’10 June’10 July’10
Average Price $367,000 $396,825 $412,602 $411,002 $404,500 $389,296
% chge vs Yr Ago +22% +14 +19% +12% +9% +9%

Condos Feb‘10 Mar’10 Apr’10 May’10 June’10 July’10
Average Price $285,000 $304,930 $307,770 $315,775 $308.034 $308,562
% chge vs Yr Ago +12% +17% +13% +18 +8% +9%

In This Issue...
Neighborhood Trends
Give Yourself Some Credit
First Aid Kit Checklist
Grilled Portobello & Goat’s Cheese

Neighborhood Trends

District
Area Avge Selling Price June 2010 %chge June’10 vs June’09 Avge
Selling
Price
July 2010 %chge
July’10 vs July’09
Total GTA $435,034 +8% $420,482 +6%
C01 Downtown $412,104 +14% $403,022 +13%
C02 Annex/Bloor W, etc $735,240 -9% $791.388 +28%
C03 Midtown $945,079 +8% $645,686 -6%
C04 North Toronto $831,390 +9% $727,287 -7%
C06 Dublin Heights/Willowdale $586,538 +20% $538,595 +22%
C08 Cabbagetown/Downtown $395,070 +4% $383,533 +7%
C09 Rosedale $1,160,217 +39% $813,555 -17%
C10 Davisville/ L. Park $678,281 -1% $708,351 -5%
C11 Leaside/Old East York $499,350 -10% $715,228 +46%
C12 Bayview/York Mills $1,345,786 +12% $1,335,170 -6%
E01 Riverdale/Leslieville $476,635 -1% $442,875 -4%
E02 The Beach/Leslieville $584,738 +9% $651,635 +26%
E03 Danforth/East York $400,888 -3% $380,257 +/-0%
Condo Sales
C01 Downtown Core $378,489 +11% $381,045 +14%
C08 St Lawrence/Downtown $365,609 +6% $351,968 +6%
C07-14 Yonge Sheppard $342,506 +13% $334,916 +8%
C15 Bayview Sheppard $343,703 +8% $284,711 -3%
Source: Toronto MLS

Give Yourself Some Credit
The home of your dreams has finally hit the market! You figure it’ll be easy to get a mortgage but if your credit's not in great shape, your dream home may just remain a dream.

It's important to check your credit score in advance. A solid credit rating makes you more attractive to financial institutions which means you'll enjoy better rates and terms that over time can save you thousands. Here are a few things to consider:

Clean It Up - If there's a blemish or two on your report, try to sort it out before it's too late.

Consistency - Lenders look for a long track record of consistent payments. Time is the only thing that'll help you here so get started today!

Payment History - It may not be a big deal if you’ve missed the odd bill but if you’re consistently late with your payments, it’ll raise a red flag.

How Much You Owe - Lenders don’t want to give money to someone with a whack of financial obligations so the less you owe the better. Try to pay off your smaller debts.

Credit Balance - It’s important to show you’re responsible. If you carry a balance, it's best to not exceed half your limit. Don't continuously max out your cards.

Number of Applications - The number of times you’ve applied for credit can affect your rating. Don't apply for credit unless you plan on using it.
Knowledge is power so find out where you stand ahead of time, even if you think your score's perfect. If you know your credit's in need of repair, start fixing it right away. A good credit rating will entitle you to preferred rates which can amount to thousands in interest savings. For more advice on perfecting your credit, please don't hesitate to get in touch -- I'm here to help.

First Aid Kit Checklist
Having a well stocked first aid kit in your home and car could mean the difference between life and death. Keep it in a safe location that’s known to family members and babysitters but away from young children and replace missing items right away. Your first aid kit should include:

a first aid manual
an assortment of bandages
sterile roller bandages
sterile gauze pads
cleansing agent/soap
moistened towelettes
latex gloves
sunscreen
safety pins
an epipen
scissors
tweezers
needles
antiseptic
thermometer
aspirin, antacid, antihistamine, etc.
Make sure to review the first aid manual so you’ll know how to use the contents of your kit should the time come. It's also a great idea to take a first aid course so you’re prepared for emergencies. It's a good feeling to know you have the skills to help others in distress.

2010-08-28T07:05:00.001-07:00

How to weather the real-estate chill. http://ping.fm/Ai8b2

2010-08-28T06:47:00.001-07:00

Torontoâ€™s crown jewel needs polishingThe Beaches are a gem, but the infrastructure around them is falling apart. http://ping.fm/bdBHe

2010-08-28T06:43:00.001-07:00

Buyer vs. seller: Who's on top in GTA housing market? http://ping.fm/8KNHb

2010-08-28T06:40:00.001-07:00

He may show up looking official, but itâ€™s best to inspect your home inspector. http://ping.fm/zaEiK

2010-08-28T06:38:00.001-07:00

Hiding the Keys Under That Plant Pot Isn't Such a Good Idea After All. http://ping.fm/F9AvT

2010-08-21T08:04:00.001-07:00

We've certainly lost the art of creative cursing/insulting. Check this out for a creative chuckle http://ping.fm/H2chP

2010-08-21T07:45:00.001-07:00

Aspen Ridge's Studio on Richmond will include OCAD gallery and market for test 'family units'. http://ping.fm/Nv7mp

2010-08-21T07:41:00.001-07:00

An update on the status of new construction condos in the Central Toronto market. http://ping.fm/a7HTM

2010-08-21T07:38:00.001-07:00

Checks and balances ensure housing market stability. http://ping.fm/nBOzz

2010-08-21T07:35:00.001-07:00

Interest rate looks less likely. http://ping.fm/J2Rwt

2010-08-16T05:09:00.001-07:00

Toronto's 'Clubland' no longer booming as condos move in http://ping.fm/nxYFM

2010-08-16T05:04:00.001-07:00

Buyers quick to adjust to down market,sellers very slow. Sellers stubbornly hold onto perception of what home is worth,buyers turn on a dime http://ping.fm/rQaIY

2010-08-04T08:24:00.001-07:00

The heated Toronto condo market seems to be gearing down as sales start to slow. Despite the dip sales in the 2nd quarter were still the 7th best on record. http://ping.fm/gSEBQ

2010-07-27T07:11:00.001-07:00

Want to buy locally and organically? Here's a list of Toronto Farmers' Markets that you can visit: http://ping.fm/2XOqt

2010-07-25T04:44:00.001-07:00

Champagne tasting Monday July 26 at LCBO 1838 Avenue Rd (N of Lawrence) 7Pm. $5 register at 416 785 6389

2010-07-24T07:12:00.001-07:00

Safety recall due to an electrical fire hazard for Maytag Jenn-air Amana Admiral Magic Chef Performa & Crosley dishwashers. http://ping.fm/4NYl7

2010-07-20T11:58:00.001-07:00

Greater Toronto REALTORSÂ® reported 2,790 sales throughthe Multiple Listing ServiceÂ® (MLSÂ®) during the first two weeks of July 2010.
http://ping.fm/n9Cpt

2010-07-10T06:08:00.001-07:00

What do you do when your neighbor causes a leak? Mike Holmes, National Post: http://ping.fm/gpfVQ

2010-07-10T06:05:00.001-07:00

Canadian Real Estate market gets very high marks for transparency. National Post Homes: http://ping.fm/IJw7Y

2010-07-10T06:00:00.001-07:00

Streetcar Developments is making a big impact in the downtown east side. Tracy Hanes, Toronto Star http://ping.fm/rMeK4

2010-07-10T05:55:00.001-07:00

RECO setting new standards about disclosing legal status of basement aprtments: Bob Aaron The Star http://ping.fm/MvtzT

2010-07-08T10:36:00.001-07:00

Earlier this year we saw some very strong growth in real estate sales. We suggested at the time that some of this was partly due to many buyers bringing their purchases forward in anticipation of rising interest rates and the effect of the new provincial HST tax.

We are now seeing that this was actually the case and this has contributed somewhat to much softer numbers being reported for sales in the June period.

At the same time, the average selling price has continued to show fairly strong growth vs a year ago, but not to the degree that we saw earlier this year (see details below). It is expected that we will see prices moderate further, reflecting the high number of listings available and the normal summer slowdown that occurs every year at this time.

Greater Toronto REALTORSÂ® reported 8,442 sales through the Multiple Listing ServiceÂ® (MLSÂ®) in June. This represented a 23 per cent decrease compared to the record 10,955 sales reported in June 2009.

Sales for the second quarter of 2010 amounted to 28,810 â€“ up one percent annually. Year-to-date sales through June were up 23 per cent to 50,455 compared to the first six months of 2009.

â€œWe experienced a record number of existing home sales during the first half of 2010, but these sales were weighted more towards the beginning of the year,â€ said newly elected Toronto Real Estate Board President Bill Johnston.

â€œThe pace of home sales has moderated from record levels over the past two months with the prospect of higher mortgage rates.â€ The average price for June transactions was $435,034 â€“ up eight per cent compared to the average of $403,972 recorded for June 2009.

â€œWith more homes to choose from in the second quarter, many home buyers have been making less-aggressive offers. This has resulted in less upward pressure on the average selling price,â€ said Jason Mercer, TREBâ€™s Senior Manager of Market Analysis.

â€œThe annual rate of average price growth in the second half of 2010 will be in the single digits.â€

See Summary Of June Sales And Average Price Below.
Please contact me at armand@armandgilks.com if you would like an update on your own local neighborhood, or on the current value of your home.

Housing Market Price Trends by Type of Dwelling and Area â€“ Total GTA

Detached

Janâ€˜10 Febâ€˜10 Marâ€™10 Aprâ€™10 Mayâ€™10 Juneâ€™10
Average Price $445,000 $453,000 $541,535 $542,348 $550,739 $543,884
% chge vs Yr Ago +22% +22% +24% +14% +13% +10%
Semi-detached

Janâ€˜10 Febâ€˜10 Marâ€™10 Aprâ€™10 Mayâ€™10 Juneâ€™10
Average Price $345,500 $367,000 $396,825 $412,602 $411,002 $404,500
% chge vs Yr Ago +22% +22% +14 +19% +12% +9%
Condos

Janâ€˜10 Febâ€˜10 Marâ€™10 Aprâ€™10 Mayâ€™10 Juneâ€™10
Average Price $270,000 $285,000 $304,930 $307,770 $315,775 $308.034
% chge vs Yr Ago +19% +12% +17% +13% +18 +8%

District
Area Avge Selling Price June 2010 %chge Juneâ€™10 vs Juneâ€™09
Total GTA $435,034 +8%

C01
Downtown $412,104 +14%
C02 Annex/Bloor W, etc $735,240 -9%
C03 Midtown $945,079 +8%
C04 North Toronto $831,390 +9%
C06 Dublin Heights/Willowdale $586,538 +20%
C08 Cabbagetown/Downtown $395,070 +4%
C09 Rosedale $1,160,217 +39%
C10 Davisville/ L. Park $678,281 -1%
C11 Leaside/Old East York $499,350 -10%
C12 Bayview/York Mills $1,345,786 +12%
E01 Riverdale/Leslieville $476,635 -1%
E02 The Beach/Leslieville $584,738 +9%
E03 Danforth/East York $400,888 -3%

Condo Sales

C01 Downtown Core $378,489 +11%
C08 St Lawrence/Downtown $365,609 +6%
C07-14 Yonge Sheppard $342,506 +13%
C15 Bayview Sheppard $343,703 +8%
Source: Toronto MLS

The G20 fall out

2010-06-30T05:53:00.001-07:00

I'm reluctant to even talk about this as I'm sure you are as fed up with the whole thing as I am. But, I think it is important to speak up for our police and the way they handled a very difficult task.

It is amazing to me how ignorant and disrespectful some people are towards anything that does not fit into their very narrow and unrealistic view of the life and the world. The pictures that I saw of people scraming at police, throwing things at them and causing all kinds of damage to other peoples property was incredible.

How were these people raised? If I was one of their parents I would be so disappointed. But then, maybe that's what the parents were like.

This goes way beyond the G20 though. The general diregard and direspect for others is way to high in todays society. Road rage, lack of courtesy, bad cel phone manners - need I go on? Is there a solution or are we stuck with an age of disrespect? I sure hope not.

Anyway, the police have my support and respect in this situation. They may not have been perfect, but I don't think I would have had the patience that they showed.

Enough of my rant for today. Enjoy life and good luck out there.

2010-06-26T06:57:00.001-07:00

The importance of doing a home inspection.By Bob Aaron http://ping.fm/Q1cAC

2010-06-26T06:55:00.001-07:00

Then there are fabulous warrantees: Steve Maxwell write about Craftsman tools from Sears. http://ping.fm/C0gxH

2010-06-26T06:49:00.001-07:00

Another warning about the perils of extended waranties. Ellen Roseman: Some extended warranties promise more than they deliver http://ping.fm/dowXT