MARCH E-NEWS. SPRING EDITION
With only a few days left until the April Air Miles Bonus offers kick in, you can imagine that my sellers are busy cleaning, de-cluttering and getting ready to join my 50,000 Air Miles Challenge to help Easter Seals Send a kid to camp. Courtesy of paul Indrigo, Sales representative
H o m e o f U n i q u e T o r o n t o . c o m L o f t S e l l e r s . c a
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Welcome to Spring 2010.
Now here’s the latest news... March 3, 2010 -- Greater Toronto REALTORS® reported 7,291 sales through the Multiple Listing Service® (MLS®) in February, representing a 77 per cent increase over February 2009. The average price for these transactions was up 19 per cent year-over-year to $431,509. Sales and average price increases represent both increased demand for ownership housing and the base year effect, which involves a comparison of economic recovery this year to a period of economic decline last year. See details. Click here for complete Market Watch.
March 2010 e-news
In this issue: March update
1
My Top ten ‘hoods to watch out for in 2010
2
The Pre-Approved Mortgage Myth
3
Current Promotions./Air Miles Offers/Hot Spaces
4
TOO LATE..THIS ONE IS SOLD @ http://www.99ASixteenthSt.com Your Dream Space Awaits! Amazing Opportunity To Own A 5Yr Old Home In An Established Area For Under $500K. Approx 1800 Sqft Of Space Including Full Height Basement Level & Huge Garage/Workspace. All The Benefits Of A Freehold Townhome Along With The Outdoor Space. Hardwood Floors, Pot Lights & Much More. Extras: Fridge, Stove (As Is), Dishwasher, Microwave, Washer & Dryer. All Electric Light Fixtures. All Window Coverings. Roughed In Central Vacuum. Taxes To Be Assessed.
Top 10 Toronto ‘hoods to keep an eye on! Paul Indrigo, Sales Representative
Century 21 Regal Realty, Inc. Brokerage. Independently owned & operated. 1291 Queen St West Toronto, ON Tel: 416-849-5360 Mobile: 416-823-2705 Fax: 416-981-7884 E-mail: paul.indrigo@century21.ca
Has anything changed in Toronto real estate over the last 10 yrs? Some say yes and some say no. What has changed is the perception of many areas of our beloved city. I still tell the story about how when I started in the early 2000s, my then girlfriend (now wife) urged me to call her if I was doing showings in Parkdale as it was known for being a bit seedy. Flash forward to now, my office is in the heart of this ever changing area and I wouldn’t change it for anything. My point is that many areas that I take clients to are NOT polished or clean...but offer a great chance to get into the next East York or Leslieville. More than likely if you have funds to do so, you will want to buy in these amazing areas NOW. Although this is NOT a guide on the only areas to look into, these are my picks for where many changes are going to occur over the next decade. Some you know, some you may not. If you are in your 20s or 30s and want to possibly have a six figure account by 2020, this may be one way to get there. Tours of these areas are going on regularly..sign up with me TODAY to get in on them. 1. East York (much of the East of Woodbine area /S of Danforth area is on the upswing) 2.Gerrard St E (Main St to Victoria Park) 3. Etobicoke (old industrial pockets mostly) 4. Studio District/Leslieville (lofts are becoming huge here. New York city huge!) 5.Scarborough. (Mark my words, its on a rebound!) 6. The Junction Triangle. (New name aside, this area is improving every few yrs by leaps & bounds). 7. Waterfront. (If you want great views & have under $500k to spend, this is still a great starter) 8. Parkdale/Liberty Village. (Although many parts are established, some are not). 9. Corktown. (the next few years will be huge here) 10. Distillery District/Portlands area (be there before the Pan Am games!)
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RT @BuzzBuzzHome: Old Toronto neighbourhood gets a new name... The Junction Triangle http://bit.ly/c9r54M.
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Hot off the press: 6 Million AIR MILES Collectors Reached (via Century21.ca) April=bonus miles for buyers/sellers! My latest blog post..."Tenants from Hell OR Tenants from Heaven, I know who I'd pick." http://ow.ly/1p3Ra
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Stunning unit in the 550 Wellington St W complex/ Thomson Residences
The Pre Approved Mortgage Myth by Marcy Berg. Once upon a time in a country far far away anyone who was planning on buying house went to great intuitions of commerce to discuss the possibility with a wise and sage guardian of funds. Armed with their pre-approval people went out a looked for a house and when they found the perfect home they returned to the sage guardian and were given the funds to close the transaction. There was a thing called loyalty and relationships and once established these bonds were tough to beat. Then things got better, much better. As people have become more savvy about borrowing and are exploring more options the pre-approval is one of those services that has diminished over the years. Many years ago when I was working in the bank we would handle a pre-approval as if it were a true mortgage application. We would subject it to the same scrutiny as any other type of loan and collect all our documentation. Once a client bought a house all they had to do was have the realtor send us the completed offer and the MLS listing. The next thing the client had to do was pick the paint and show up at the lawyers. Most lenders are not pre-pared to invest that amount of time in pre approvals anymore because so few of them actually close. Clients shop around and often take the pre-approval and negotiate something better. Basically today’s preapprovals often don’t even include a credit check. They are a brief conversation and calculations are done without clarification of income or down payment. Clients are given ball-park numbers and their rate is help for up to 4 months. Even actual commitments mean little but I will save that for another article. If you are seeking a pre-approved mortgage and planning on using as an absolute guide to purchase then heads up! You need to make sure you have in depth conversation with someone with complete knowledge of the industry. If you find yourself shopping around for a person who finally tells you what you want to hear then you may have a problem at closing. The rules for mortgages are very black and white and especially insured mortgages really level the playing field. Make sure the person you talk to takes a good look at your income documentation and your source of down-payment. It should be clear in your mind what you have to bring to the table in order to make the process as smooth as possible. If friends tell you stories about running around at the last minute to gather information to close their mortgages then you need to stay clear of those recommendations. Even after a full investigative interview your pre-approval is no guarantee. The lender has still not nailed down the true cost of your transaction. For example if you are pre-approved to buy a house at $450,000 you come back with a condo for the same amount I can almost guarantee you the condo fees are not factored into your ability to borrow . If you got a preapproval that holds the rate till after April 19th the new rules will apply to your application once you find the home you want. Experience is the key to success. There are lot of great mortgage products on the market that make homeownership attractive. It’s your job to make sure you are sitting in front of someone who really knows and understands the rules. Marcy Berg, AMP Mortgage Agent ON Lic # M08005526. Partner & Owner Mortgages4Women Inc. The Mortgage Diversity Group , Lic # 10316 Head Office: 261 George St, Cobourg, ON, K9A 3L7 Toronto Office: 1600‐401 Bay St, Toronto, ON, M5H 2Y4Office: (905) 372‐7367 or (416) 646‐5165 ext 5165. Toll Free: 1‐800‐562‐7922 ext 992 or 1 (888) 372‐7367 Smartphone: (905) 373 5104. Fax: 1 (888) 483‐3050 Email: mberg@mortgages4women.ca http://www.mortgages4women.ca Proudly Serving you in French, Spanish or English!
DISCLAIMER: Paul Indrigo, Sales Representative & Century 21 Regal Realty Inc, Brokerage recommend you speak with at least 3 professional and experienced contacts before making an informed decision.
CURRENT PROMOTIONS (click for current links)
SOME HOT NEW LISTINGS TO CONSIDER... The Merchandise Lofts is easily in the top 5 hard lofts in Toronto. Imagine yourself living in this amazing 1 bed with parking in the low $300s. Book your tour of this space today! Stunning 1 bed loft at the Garment Factory Lofts with parking, locker and awesome terrace space. Priced in the mid $300s. Virtual Tour link here. Finally...your chance to own a piece of the Network Lofts in the West end. 2+1 layout customized for a unique custom made loft space in this former Bell Telephone warehouse. Must move quickly on this one...Priced at $374,900.
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