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HOUSING - AN IN-DEPTH SERIES
This could be war GTA real estate a relatively safe investment gamble, experts say BY CHRIS SIMON
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f you’re planning to buy a house in the Greater Toronto Area, be prepared to go to war. As demand in the local housing market increases substantially on an almost monthly basis, so, too, does the number of bidding wars. Graham Jones, a Re/Max Hallmark agent who has worked in the industry for 25 years, just sold a house in a bidding war that netted his clients a substantial profit. Their Richmond Hill bungalow was listed for $899,000. There were nine bidders and the property sold for $1.43 million. He compares the sale to “winning the lottery” for his clients. “It was underpriced a little bit to set up the bidding war, but still, it set records all over the place,” Jones said. “We had three bidders that were just beating the living daylights out of each other. We didn’t know where they were going to stop. It’s a nice home, but it’s a 65-year-old, 900-square-foot bungalow on a 50-foot lot. They (sellers) are so happy. I can’t even begin to tell you. They’re retiring and going to buy a piece of property up north and build a house.
They got way more money in their pocket than they expected. They’re absolutely thrilled. Every deal I’ve done in the past two years has been multiple offers.” It seems this story is becoming commonplace. The Toronto Real Estate Board reported a 12.6-per-cent increase in home selling prices in April, when compared to the same period last year. The average home sold for $766,472 in Toronto in April, compared to $690,658 in April 2015. Throughout the rest of the GTA, average prices also increased from $605,336 in April 2015 to $724,235 this year. The increase is blamed on several factors. Interests rates are at or near record lows, the Canadian dollar lags behind other world currencies and, historically, GTA real estate is a relatively safe investment gamble.
BUSINESS
We’re renovating The York Region Media Group’s headquarters at 580B Steven Crt. in Newmarket, home to The Newmarket Era/Aurora Banner/ East Gwillimbury Express/Vaughan Citizen/ Markham Economist & Sun/Richmond Hill/ Thornhill Liberal and King Connection, is undergoing renovations. The office will be closed to the public while construction workers are on site, starting 9 a.m. tomorrow (June 3) and will re-open 9 a.m. Wednesday, June 15. To minimize disruption, and for your convenience, our phone lines will be operational during this time and staff will be working remotely and available via email. Deliveries can be sent to 250 Industrial Pkwy. N., Aurora. Advertising representatives will visit clients as usual and our reporters and photographers will be out in the community during this time. Please call the main office at 905-853-8888 for any inquires and we will be happy to assist you. We appreciate your patience and support during this time period and we look forward to returning to our fresh new office soon.
See page A3.
Staff photo/Steve Somerville
Rick Hansen Public School student Gisette Aimaq gets moving during Activate Aurora’s first Play Day for local elementary schools, designed to use skill-based play to build physical literacy skills in children from Grades 1-3. More than 300 children and their teachers visited the Aurora Family Leisure Complex and Lambert Willson Park in Aurora to participate in this unique experience. For the full story, see page A7.
COMMUNITY
Georgopoulos named 2016 Citizen of the Year Former Jonathan’s Restaurant owner wins award BY TERESA LATCHFORD
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tlatchford@yrmg.com
ary Georgopoulos has been chosen as Aurora’s 2016 Citizen of the Year. An emotionally overwhelmed Georgopoulos accepted the award in front of 150 guests at town hall this week during the 2016 Community Recognition Awards ceremony, an evening to honour residents and organizations for their outstanding community contributions. “Thank you everyone for the love,” a tearful Georgopoulos said as she
received a standing ovation from the audience. “I am just so grateful to live in a town that gives so much back.” Award presenter, Mayor Geoff Dawe, described Georgopoulos as a passionate volunteer who has supported the community by assisting local charities and participating in church activities and special fundraisers to help those in need for more than two decades. One of her greatest achievements is the annual Christmas day dinner she and her family host every year See page A10.
BUSINESS
BY TERESA LATCHFORD
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tlatchford@yrmg.com
BY TERESA LATCHFORD
Staff file photo
The Aurora Chamber of Commerce’s annual street festival brought 30,000 people to Yonge Street last year. The event returns Sunday. There are plenty of unique offerings at the festival every year. For example, the Queen’s York Rangers Army Cadets will not only be selling Jumbo Freezies, but will also offer ribbons in exchange for donations. Those who donate can put their names, a message or whatever they wish on the paper ribbon and attach it to a wreath that the cadets will bring to Vimy Ridge next year. “It’s just a great family event that allows people to get out and
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Great Big Sea’s Alan Doyle to headline at Magna Hoedown Talented musician, actor, author to perform Sept. 16
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Aurora Mayor Geoff Dawe presents the Citizen of the Year award to Mary Georgopoulos at the town hall Monday during an event intended to recognize the contributions of volunteers.
WHAT’S ON
Festival takes over Yonge Street Sunday he Aurora Chamber Street Festival is every food lover’s dream. Those who attend the 21st annual street festival held on Yonge Street in Aurora this Sunday won’t be hard pressed to find something of interest with 525 vendors set up at 700 booth spaces, according to event organizer Sandra Watson of the Aurora Chamber of Commerce. But those who love a good bite will especially enjoy the experience of sampling from the many food vendors who will be offering up savoury eats and sweet treats all day long. “There is definitely something for every palate,” Watson said. “Barbecue, Hawaiian, fries, poutine and the list goes on. With the warm weather, we are expecting the ice cream trucks will be a hit.” Last year, organizers estimate the event attracted 30,000 visitors and they hope to attract even more this year. The festival has two stages this year that will showcase local talent and buskers who will entertain crowds throughout the day.
Staff photo/Mike Barrett
enjoy their community and socialize with the neighbours they haven’t seen all winter,” Watson said. “It is also an opportunity for people to support the local businesses.” The event wouldn’t be possible without support from the community sponsors or the volunteers, many of whom return year after year, who are out early in the day marking the pavement with chalk so vendors know where to set up, she added.
lan Doyle of Great Big Sea is the Friday night headliner for the 28th annual Magna Hoedown. This year’s Hoedown will take place Sept. 16 and 17. Once again, 15 York Region charities and community groups have been selected as recipients of the Hoedown proceeds. On Sept. 16, Doyle will headline. The actor, producer, newlyminted best-selling author and best known as lead singer for Newfoundland’s Great Big Sea, has released his second solo album, So Let’s Go. “I always want people to have the greatest night of their life when the house lights go down,” Doyle writes in his bio. During the official Hoedown kickoff event last month, organizers
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ALAN DOYLE announced Paul Brandt at the Saturday night headliner. Described at the most awarded male Canadian country artist in history, his 1996 debut RIAA certified gold album Calm Before the Storm went on to sell one million albums internationally, propelled by the No. 1 single, I Do. See page A4.