My city Toronto and me as A REALTOR

From dinner gatherings to doctor visits, at virtually every point in our daily lives, we as REALTORS® find ourselves engaged in casual conversation about whether now is a good time to buy or sell a home.

My response to this question is an unequivocal, “Yes!”

Our city’s cultural and economic diversity are key factors that attract people from around the world, newcomers are also drawn by Toronto’s outstanding international reputation. According to a study released recently by the international research firm GfK, Toronto ranks eighth on an index that measures the image of cities around the world.

A recent report by National Bank Financial noted that as a result of immigration, our country’s population of 22- to 44-year-olds grew in 2012 at its fastest rate in more than two decades, increasing by 1.1 per cent. This demographic decreased everywhere else in the developed world. Representing 55 per cent of all immigrants to Canada, it is a very significant age group, as it includes individuals who, in their prime home buying years, contribute to the demand for housing throughout the Greater Toronto Area.

Based on more than 5,000 interviews with adults around the world, the study gauges such factors as a city’s international status, physical aspects, amenities, affordable accommodations, people, attractions, and economic and educational opportunities.

Toronto’s eighth place finish also represents the most significant move within the report’s top 10 cities, climbing from the 13th spot when the study was previously conducted in 2011. 

As Torontonians, we should be extremely proud that our city’s image ranks amongst such world centres as London; Sydney; Paris; New York; Rome; Washington, D.C.; and Los Angeles.

Toronto scored highest with respect to friendliness and safety in this study, ranking second and fourth in the world respectively. I believe that Greater Toronto REALTORS® are an excellent representation of these attributes, as we strive to be our most congenial and courteous while interacting with people from all walks of life on a daily basis.

As REALTORS®, I gain great fulfillment from working cooperatively with  other Realtors and from helping our clients realize the dream of home ownership.

Courtsey from President -Toronto Real estate Board

Convenience And Variety Store for sale in Prime Location

Excellent Established Convenience And Dollar Store Business In Busy Area Near Schools And High Rise Buildings,Lots Of Walk-In Customers. High Profit Margin Business

. If You Are Feeling Creative You Have Possibility To Add More Such As Lotto, Western Union Money Transfer.

This Business Has Monthly Income Of $ 28000 Appx And Expenses Are Only Around $ 4000-5000.

Rent Is $ 3,160/Month. Heat &

Hydro Separate

Full Training Will Be Provided,Buyer Can Verify Sale By Working In Store.

Canadian Mortgage and You.

Being a Realtor, I am always facinated by the articles on Finance. I read this article in Toronto Star showing us how to save on your  Mortgage and  few other facts on Mortgage.

If you are First time buyer , buying your next house or buying a real estate as investment is always good know that how you can save on your mortgage.

Do you know that when it comes to find the best rate First time buyer gets the best rate and option as they shopped around, have tight budgets and so fight for every basis point.

The economists found that people who switch banks get a better deal than existing customers, because new customers offer the banks an opportunity to sell more products. So when it comes to mortgage loyalty does not pay well.

The best way to figure out  about your choices are: to compare prices and features, read the fine print on contracts and keep an eye on developments in the news. In this respect, the Internet has been a great leveler. The study also found that mortgage brokers find the best rates . Mortgage brokers are paid by the lender so they aren’t confined to one lender’s products. Their business is very competitive, so the pressure to find the very best rates is high. The study noted that brokers “are a significant factor driving discounts,” reducing the cost of a mortgage on average by 17.5 basis points.

When it comes to saving on your mortgage, there are lots of ways to cut your interest costs, such as
1. Making pre-payments 2. Shopping around at renewal time. 3. Borrowing as little as you can
4. Making as large a down payment as possible.

For instance, say you’re purchasing a home for $200,000.
With a down payment of 20%, or $40,000,
your monthly mortgage payment would be $930.57,
Your interest cost will be $119,170, at an average interest rate of 5 %, amortized over 25 years.

But, if you can put down 25 %, or $50,000, your monthly payment would be $872.41 and your total interest cost would be $111,722 — a savings of about $7,400.

Most mortgages offer pre-payment privileges that let you pay an extra 10 to 25%, per payment or per year. Those payments go directly to the principal and can take years off your
mortgage.

Simply changing from monthly payments to accelerated bi-weekly payments will pay off the mortgage about four years sooner, with an overall savings of more than $25,000 in interest.

If your mortgage is up for renewal ,get the current lower rate, but don’t  change your payment.
For example, if you’re renewing a mortgage from five years ago and your rate is 5.75% and your payment on a $200,000 mortgage was around $1,200, at today’s rates, it would drop to about $900. So If you can keep making the $1,200 payment, every payment, you’ll be whacking an extra $300 off your mortgage balance. You could literally pay off yr mortagage earlier than u imagine.

 Financial planning experts say that, when it comes to saving for retirement, it’s best to start early and save often, even in small amounts.The same principle applies to money that you owe for 25 or 30 years,That extra payment goes to the principal ,that extra dollar gets applied to it’s the last dollar.
What happens when you have closed fix rate mortgage and you wants early exit from your mortgage.

There are few things we should know about Mortgage penalty.

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.

But if interest rates go down, you have to pay a penalty that is much higher than three months’ interest. It is based on the interest rate differential (IRD) between your initial rate and the current rate until the end of the term.

An IRD penalty can be a shocker, since your lender wants compensation for having to break your higher-rate mortgage and sign up a new borrower at a lower rate. Lenders calculate these penalties as they wish. There isn’t a formula that everyone has to follow. If you received any rate discounts or cashback rewards when you took out the mortgage, you may have to pay them back on your way out the door. This, too, inflates your penalty.

It is best to find out if the lender is giving you a discount that will be thrown into the IRD calculation when you get out of a mortgage prematurely and  how the penalty is calculated. If
you see anything that says you must pay for the discount or some other extra cost. then you must choose what is best for you.

So choosing the  low rates is not the only criterion when choosing a lender but also to keep in mind what is the option for early payment  of mortgage or exit prematurely should be
also the question you should be asking your lender.

Choose wisely and live happily after that..

Pushpa Dhawan as your Neighbouhood Realtor

2011 Canada census: Young professionals, baby boomers fuelling Canada’s condo boom

Experts say fundamental shifts in population and lifestyle — couples putting off marriage and children, workers rebelling against tiresome, traffic-clogged commutes — are pairing with a growing backlash against urban sprawl to spur one of the most pronounced and sustained real-estate booms in recent history.

That explosion is, in turn, changing the shape and culture of Canada’s cities.

“It’s a combination of economic and demographic factors,” Condos present a more affordable option for first-time home buyers such as young adults and new immigrants. Empty-nesters looking to downsize to a smaller home are also driving the condo craze, but for lifestyle reasons more than financial ones.

Immigrants are our bread and butter and the census proves it -There are more of us — 33.47 million, according to the census. We need more young people in the workforce. We need them for our collective prosperity and, especially, to pay for our pensions, old age security and health care.  It is they who are primarily fuelling the boom in population and real estate in Toronto, Montreal and Vancouver, the three metropolitan areas that account for 35 per cent of our total population.

Toronto's suburbs are still booming- The city on Toronto’s outskirts grew by a whopping 56.5 per cent to 84,362 residents between 2006 and 2011, according to new Statistics Canada figures released Wednesday. Whitchurch-Stouffville: rank in at number three with a 54.3 per cent jump to 37,628 residents. Milton: is the fastest growing municipality in Canada grown 71.4%. Brampton also grew significantly, up 20.8 per cent to 523,911. Mississauga was up 6.7 per cent to 713,443. Toronto stood at 2,615,060 residents, up 4.5 per cent, with growth focused along the waterfront, the downtown core and several pockets across the city.

Young professionals, baby boomers fuelling Canada’s condo boom - the retired couples are part of the condo craze — lured by the promise of a life free of clearing snow and scooping out eavestroughs, drawn to the gleaming glass-and-steel towers and newly scrubbed factory conversions that are reshaping Canada’s urban lifestyle.

Condos present a more affordable option for first-time home buyers such as young adults and new immigrants, Empty-nesters looking to downsize to a smaller home are also driving the condo craze, but for lifestyle reasons more than financial ones.

GTA condo sales climb 24% to record in 2011 - A record 28,190 condos were sold across the GTA last year, up 24 per cent from the previous high set in 2007, says condo research firm Urbanation. The final quarter of 2011, at a record 7,226 units. Speculative buying, over-leveraging and “herd behaviour” as three risk factors that are hard to assess but could lead to a correction in Toronto condo prices.

The inventory of unsold suites has been creeping up. As of the end of last year, it stood at just under 15,000 units — about 18 per cent of existing condos — up from 12,272 in the first quarter of 2011. That’s still below the five-year 21 per cent average for unsold suites.

The most powerful attraction of downtown is after-hours nightlife that there wasn’t before, which attracts more people.

As more condos crop up and more people move in, the challenge will be to foster diversity within those fledgling communities, said David Gordon, an urban development expert at Queen’s University in Kingston. Otherwise, some areas could become enclaves for young professionals and affluent retirees, shutting out families and lower-income residents.

Planners in Edmonton are looking for developments with larger condos to draw families away from the suburbs.

The challenge at this point ... is to provide the park spaces and the schools and the infrastructure that’s necessary. If the schools aren’t open, Families aren’t going to move downtown.

Real Estate: 10 things you need to know

By Tony Wong - Business Reporter

Wed Mar 9 2011

Next to public speaking, buying or selling a home is at the top of many people’s fear and loathing list. A home is the biggest investment you’ll ever make and while exciting, the potential for things to go wrong is pretty big.

Here are 10 things to consider when buying a home.

1. The housing market isn’t really a market

At least not in the way you might think. While housing analysts like to compare real estate returns to stock market returns, it is a misleading comparison.

The first big difference is that a stock market is a place where you can by and sell immediately. In the real estate market you can wait months for the home you want to come on the market and just as long to find someone who wants to buy yours. The price you expect may not bear any resemblance to the one you get.

The long run return on stocks is also a lot better. The average stock in the Standard & Poors 500 index, a basket of blue chip U.S. stocks, has returned about 6.3 per cent a year after inflation in each of the last 25 years. The average increase in the value of a Canadian home over the same period petty much tracks the rate of inflation which during the same period was 2.5 per cent.

A home is also more than an investment. It has all kinds of intangible qualities, including a neighbourhood you want to live in, a spot with a particular view or landscape, a type of architecture that you enjoy. So, while it’s tempting to think of your primary home as a profit centre ripe for a flip, that shouldn’t be the main purpose.

Besides, your Microsoft stock can’t keep you warm at night. (Unless you bought it when Bill Gates was still working out of his garage. In which case, you probably have your own heating company.)

2. It’s always a good time to buy

No it isn’t. People who bought at the height of the market in the 1989 real estate bubble, didn’t break even until prices bounced back in 2002. That’s 13 years. And even then they didn’t make their money back. Factoring in inflation, they actually lost money. House prices don’t go up forever. Buy when your circumstances dictate, not because your neighbor the agent says it’s a good time to.

3. Location, Location, Location.

Yah, they’re right. You’ll pay more initially, but investing in a property in the good neighborhood close to transit will pay dividends down the road when it comes time to sell

4. Buy the cheapest house on the street

Some people argue you shouldn’t, because the home will compare poorly to the other homes when you sell.

I say go for it. It may already be discounted because it looks like a shack compared with other properties and provides far more upside if you spruce it up in the future. A rising tide can also help to lift all boats. As the street gentrifies, infill housing will continue to keep property values high. Getting your foot in the right address is half the battle. Hello Park Place!

5. Do I need an agent?

Yes, a good realtor can be a huge asset, everyone needs professional advice.

6. If you want an agent…

If you don’t have the time, or would rather use professional advice, a good realtor can be a boon, because they know the neighborhood and can potentially get you top dollar. But like any other service, the results will vary. So make sure you interview several before choosing.

7. Renovating will give me huge return

Stop watching all those television shows where some fancy designer redos the entire house in a week with faucets that cost more than your BMW. Okay, I like them too, but that doesn’t mean you have to gut your kitchen to sell your home.

Most experts say you’ll get the best bang for your buck by redoing the kitchen and washrooms. But even for the most sought after features by homebuyers, the return on investment is anywhere from 75 per cent to at best 100 per cent. That means in many cases if you spend $10,000 you’ll only add that much vale at best and maybe far less.

8. It just needs a coat of paint

When it comes times to sell, you may have been living in your home for so long that you don’t notice the coffee stains on the couch and the Sponge Bob wallpaper in the washroom. Get a second pair of eyes to have a look around. This could be friend, relative or your agent and hopefully they’ll tell it like it is.

You may want professional help in the form of a home stager who can arrange your furniture and make your place look showroom ready. But you don’t need to pay big bucks. Start by asking a friend. She’ll tell you why Sponge Bob must go.

9. Don’t try to time the market

I know people who sold their home at the peak of the market, and rented a condo while riding out the crash.

After the crash, they repurchased near the same neighborhood for substantially less. This is the dream of every home investor. I also have friends who thought the market was going to crash, so they waited for four years to buy a home. Prices kept going up and they finally threw in the towel and bought at a higher price than they expected. Then the market crashed. Housing is a long term investment, and sometimes you just have to commit.

10. Keep your perspective

My friends think think their 1,500 square foot semi is worth a bundle, because they spent hours building the deck and hand painting the cute gold cherubs on the walls.

Being emotionally attached to your home means that when it comes time to sell, your objectivity is compromised. In a down market, with more competing listings, your home is going to be difficult to sell and the price less than you expect. Can you accept that?



Toronto Star business reporter Tony Wong has been writing about real estate for the past 10 years.

27 Braydon Blvd - $559900

• 5 Bedroom with 3.5 Bath

• Living combined with Dining Boast High quality engineed finish Hardwood

• Open concept Kitchen and family walk out to backyard

• Huge backyard backs into Ravine adding summertime serenity.

• Approximately 3000 sq/ft of building area.

• Lot size is 104 x 100 ft

• Sale price includes Fridge,Stove, Washer, Dryer

• Full unfinished basement with seperate Entrance.

• Call me for further information



Living and Dining