Toronto real estate review

In today's post, some useful information from realtor Patti Zane:

Looking for the Diamond in the Rough

Every single one of us would love to buy a property that suddenly shoots up in value after our purchase. At the very least we would like to know that our investment is a solid one. But many neighborhoods are experiencing sellers’ markets currently and those diamonds are becoming harder to find. I can offer four pieces of advice:

1) Look at neighborhood first. Identify long range factors that will attract buyers.

2) Reward is related to risk. If you are willing to take a gamble on a neighborhood which others see as undesirable, you just might be rewarded sometime in the future.

3) Don’t be silly. If your desired neighborhood is experiencing a sellers’ market and you need a home within a specific timeframe, be willing to accept a compromise. Very few homes will meet all your needs initially but with a little work and patience, any property can be improved.

4) Opt out of multiple offer situations. Many buyers have had success looking for homes that have been on the market for a while, possibly stigmatized as a result. They may offer other clues that could translate into savings in your pocket.

Toronto real estate will continue to be a good investment. Read on to find out more.

Everybody’s Talking about Public Transit
Source: Toronto Star, July 13, 2007 by Tess Kalinowski

On June 15, Premier Dalton McGuinty introduced Move Ontario 2020 to greatly improve public transit in Ontario. That’s very good news! On a smaller more local scale the TTC plans a $100 million modernization process for nine (9) subway stations, beginning with Pape. Pape leads the way because it is “destined to become the south terminus on the Don Mills line of the Transit City streetcar plan”. The streetcar plan was announced just prior to Move Ontario 2020 by the TTC. Museum will be given an Egyptian theme in keeping with recent renovations to the ROM, Osgoode and St. Patrick will be tied in with the new opera house and Art Gallery renovations respectively. Dufferin and Bloor-Yonge stations will also be affected, Islington will be demolished and rebuilt and Kipling is slated for major changes (see story to follow). I’m excited!

New Transit Hub at Kipling Station
Source: Canadian Business Online, August 14, 2007

“The Kipling station on the Bloor-Danforth subway line will be redeveloped into a flagship transit hub” announced Transportation Minister Donna Cansfield, Environment Minister Laurel Broten and GO Transit Chairman Peter Smith on August 12, 2007.

A $30 million investment over three (3) years, commencing 2008
Owned and operated by GO Transit
LEED certified building, fully accessible for persons with disabilities
Better connection between Mississauga Transit, TTC and GO Transit systems.

Parks -They’re a good thing
Christopher Hume, in an article appearing in the Toronto Star on July 13 tells us the many ways in which parks are important, particularly if we live in the city.

“Parks are not civic frills but urban necessities” he says. With 80% of Canadians now living in cities, and interior spaces getting ever smaller, parks are to many, an extension of their home. In the same way that coffee shops are considered the living rooms of condo dwellers, parks are essential as an extension of space, for activities and socializing.

“Despite having been financially starved for more than a decade, Toronto’s park system could be on the verge of a renaissance. If the proposed waterfront parks are built as designed, this city will be an international leader,” he says.

While in Toronto, you might want to visit some of these parks, before the weather gets too cold:
Harbourfront (including the brand new HTO) and the waterfront trail (with an extensive westerly line), High Park, and the Beach. If you are traveling outside of Toronto, look for High Line Park in Manhattan (due to be completed summer 2008), the Millennium Park in Chicago and the Olympic Sculpture Garden in Seattle.

If you’re considering a move into Toronto, have faith that work on waterfront parks, the Don River Park and the Lower Don Lands will enhance property values in surrounding neighborhoods. And as older neighborhoods go through the gentrification process local parks are used more and maintenance of them by the City improves.

Toronto Life’s the Next Hot Neighborhoods
Source: Toronto Life, September 2007

1. Beaconsfield Village (area bounded by Dundas Street West, Dovercourt Road, Queen Street West, Dufferin Street)
2. Hillcrest (St. Clair Avenue West, Bathurst Street, Davenport Road, Oakwood Avenue)
3. The Junction (Dundas Street West including north to railway lines, Keele Street, Woodside/Glendonwynne/Humberside Avenue, Runnymede Road)
4. Leslieville (Gerrard Street East, Coxwell Avenue, Eastern Avenue, Carlaw Avenue)
5. Mimico (Lakeshore railway lines, Park Lawn Road, Lakeshore Boulevard West including streets to south of Lakeshore, Dwight Avenue)

Trinity Bellwoods – What they said then
Source: Toronto Life Real Estate Guide 2001

“This is the sort of neighborhood would-be renovators dream about. The geographical focus is the huge and well-used Trinity Bellwoods Park (appropriately, the 1998 movie Dog Park was filmed here). There are pockets where the housing stock is far from promising. Many buyers are willing to bet on its future: last year the average selling price reached almost $280,000, up $50,000 from the year before.”

Trinity Bellwoods – What they say now
Source: Toronto Life Real Estate Guide 2007

“The epicenter of Toronto cool. The area exudes an invigorating sense of calm and community. Average 2006 sale price: $385,000”.

Patti Zane, Sales Representative

No comments:

Post a Comment