The Power To Move You June 2022 Issue by tbrealtygroup

Happy Father’s Day

KELLER WILLIAMS REAL ESTATE ASSOCIATES, BROKERAGE

INDEPENDENTLY OWNED AND OPERATED

Our Team wishes everyone a very Happy Father’s Day and hopes that this year you will be able to enjoy spending the day together with those you love! tbaird.com

REALTY GROUP

elcome to the start of summer!

While the summer temperatures are heating up, the housing market is shifting from the highs experienced earlier this year to a more balanced market. Housing market conditions continue to evolve despite the rate hikes in interest rates. Very similar to April results, May 2022 sales are down on a monthly and annual basis. We are forecasting a strong balanced market ahead with 2-3 months of inventory becoming the norm, which is actually very typical. To put this in context, in February/ March of this year we had half of a month of inventory compared to the 1.8 months of inventory that we have now. This means that it would take about 1.8 months to sell all the homes currently listed on the market, at the current rate of sales. TREB President Kevin Crigger said, “The demand for housing will be supported by extremely low unemployment, high job vacancies, rising incomes, and immigration.” In May 2022 sales were down 38.8% compared to May 2021 and down 9% compared to April 2022. The number of new listings is up 26% over last year which has contributed to a more balanced market. Although Sales are down on a monthly basis, the average price continues to rise annually across Mississauga, Oakville, Burlington, and Toronto. This shows that despite the fact that we are heading towards a balanced market, Sellers continue to be making strong return on their investments. What this means for Buyers: Buyers have more options to choose from and will find themselves with less competition when it comes time to put forth an offer and will have more negotiating power. What this means for Sellers: Sellers, now is the time to sell. With the interest rates continuing to rise, buyers who already have a locked-in rate will be looking to buy now. You can still take advantage of the tail end of the Seller’s market. In this ever-changing market it is important to price your home accurately for sale. We are happy to provide you with market stats for your neighbourhood and a complimentary home evaluation at any time. We wish you all a very happy beginning of summer, Theresa, Lindsay, Samantha, Julia, Carolina, and Dereck. The

Realty Group

CONTENTS JUN E I SS UE 2022

14 18

4 8 10 12 14 17

CAN A BANK DENY A MORTGAGE RENEWAL? What you need to know

LIVING IN THE SUNNY SOUTH Homes available in Florida

FOR LEASE 262 Timothy Court in Mississauga

FOR SALE 306 O’Hara Point Road in Port Severn

TEN BLOOMING TREES Beautiful flowing trees for your garden

COMMON REASONS CLOSINGS GET DELAYED What can happen and why

18 20 22 24 26 28 29

FOR SALE

385 Prince of Wales Drive in Mississauga

NEARLY HALF OF HOMEOWNERS WOULD RATHER RENOVATE THERESA RECOMMENDS Garlic Lime Shrimp

SUMMER SOUR A perfect drink to take the edge off the heat

FOR SALE 68 Broadview Avenue in Toronto

OUR CLIENTS SAY IT BEST... Testimonials from our wonderful clients

MEET THE TEAM A brief bio of the members of the TB Realty Group

CAN A BANK

DENY A MORTGAGE RENEWAL?

Written by Corben Grant on June 9 2021 Text and photos seen on https://www.canadianrealestatemagazine.ca/expert-advice/can-a-bank-deny-mortgage-renewal-in-canada-335143.aspx

hen your mortgage reaches its term, even if you haven’t paid it off yet, you’re going to have to renew your mortgage. This is a pretty standard part of having a mortgage, but it isn’t something that should be taken for granted. In fact, did you know that just because you were approved for a mortgage in the past, that doesn’t automatically qualify you to renew your mortgage?

This is important to know as a lot can change between when you first started your mortgage and when it’s time to renew. And, if you are surprised by a denied renewal, it can be a pretty shocking experience. You may not even realize that being denied a mortgage renewal is possible or even understand why you were denied in the first place. Even worse, you may now be scrambling to figure out what to do after a mortgage renewal denial. There are a number of options available to mortgage borrowers who have had their renewal denied. Some may be easy to do

while others may require you to take more drastic measures. Continue reading to help you understand the options available to you and what you should do when your mortgage renewal is denied.

money on interest, they can’t collect repayment or interest from someone who is unable to pay them back at all. For this reason, banks must carefully vet their borrowers and continue to do so on a regular basis, explaining the need for mortgage terms.

WHY WAS MY RENEWAL DENIED? One of the most shocking aspects of being denied a mortgage renewal is that many borrowers don’t even realize it’s a possibility. The truth is that, yes, your lender can deny your renewal and you will be forced to take action to keep your mortgage intact.

Breaking a mortgage up into multiple terms over a single amortization period allows both lenders and borrowers to react to changing conditions. Change is to be expected and it’s a good thing not to be locked into any agreement for a full 25 years or more.

The important thing to know is that banks take on risk by lending to you and though they make

The issue for borrowers is that with your mortgage renewal, the bank wants to reconfirm that you

are a creditworthy borrower. That means they are going to want to recheck your financial situation. If things have changed enough between when you first took your mortgage and now, your lender may not see you as a safe borrower anymore. There are many things that can lead a borrower to deny a mortgage renewal and they will be similar to the factors you had to reach to qualify in the first place. For example, if your income has decreased substantially or you have taken on a large amount of debt, your debt ratios may be over acceptable limits. Another factor may be your credit score. If you have allowed your score to fall too far, you may be below the point that a lender is willing to approve you for a mortgage. HOW TO MAKE SURE YOUR MORTGAGE RENEWAL IS APPROVED With the aforementioned factors in mind that can lead to a lender denying your mortgage renewal, it might occur to you that there are things you can do before it comes time to renew that can help you in making sure you don’t get denied. If you observe these tips, you should be able to avoid any issues with your mortgage renewal. Obviously, whenever possible, you need to make sure you are in good financial shape. There are a number of things you can do to help make yourself look good in the eyes of lenders. One major consideration is your income. The banks will expect you to be able to pay your monthly mortgage payments so they need to know you have a reasonable

income. Keeping a steady job or even improving your income is a great way to make sure your mortgage renewal proceeds without a hitch. As well as your income, you should consider your debts. Any debts you take on are going to tighten the debt ratios that banks use to qualify you for a mortgage. If you plan on taking on significant debt, even one that you think you can afford, be sure to check beforehand if it will affect your mortgage renewal down the line. Finally, your credit score is going to be very important when trying to get your mortgage renewed. Your credit score will be an important indicator to the bank of how well you are able to pay back debts. If your credit score has seen a drastic decrease since your last mortgage contract, this is going to make your bank nervous about lending to you. Whenever possible, you should try to keep your credit score up or take action to help increase a damaged credit score. You should also be careful to avoid any missed mortgage payments, especially if you are at risk of being denied. A good relationship with your lender will be very important

when it comes to negotiating a new mortgage contract. You may also be able to see the problem coming ahead of time and try to stop it before it becomes dire. This may mean speaking to your lender about modifying your mortgage. For example, you may be able to switch from fixed to variable interest rates or vice versa to make your mortgage more affordable. Generally, your lender will always be more willing to work with you before a problem has come up rather than after. You may even be able to refinance your mortgage mid-term to take advantage of better rates that may be available. You might need to pay a fee to do so, but a lower monthly payment and a better interest rate can save you money in the long run and make your mortgage easier to service. You should also consider what lender you want to go with when you are renewing. Though you have the option to switch for a better rate, you may find that your new lender has to do a lot more due diligence to approve you, increasing your chances of rejection. Generally,

if you are in good standing with your current lender and have made your mortgage payments on time, they will be the easiest to get renewed under. WHAT ARE YOUR OPTIONS AFTER A DENIAL? After your mortgage has been denied not all hope is lost, in fact, there are a lot of options you still have to help maintain your mortgage. CONSIDER SWITCHING LENDERS First of all, if you tried to renew with a new lender and were denied, you should consider trying to renew under your current lender. As mentioned previously, they may be more lenient on their approval which can help if you just need that extra push to get approved. The opposite is possible if you were denied by your current lender as well. It may be worth considering switching lenders, but unless they have significantly different or lower qualifying criteria, you may be denied there as well. If both your current and new lender are not willing to renew your mortgage, you will need to start looking at other options. OTHER OPTIONS BEYOND TRADITIONAL LENDERS Your next best option after you have been denied by the major ‘A’ lenders is to look to alternative ‘B’ lenders. These types of financial institutions have a wide range of offerings and qualifying criteria so there may be something here for you. These lenders often work with borrowers who are otherwise unable to borrow from major lenders due to financial issues or low credit scores, so are, in general, more accommodating and less strict. The downside is that you may

pay a price for these concessions, and often, alternative lenders will have less favourable mortgage options including higher mortgage rates which will leave you with an increased mortgage payment. This will not always be the case, but the worse your financial situation is, the less appealing your options will be. This can be an issue if you have been denied for financial reasons as taking a more expensive mortgage may only serve to exacerbate your money problems. PRIVATE MORTGAGE LENDERS If B lenders aren’t willing to lend to you, you could look for a private lender. Because these lenders are private, they do not have to follow the same regulations as other lenders and can reach deals in any way they like. Again, these may come with higher rates. Mortgages from these lenders will vary a lot so it’s hard to say exactly if they are right for you, but it’s worth considering if other options have fallen through. SELLING YOUR HOME Unfortunately, there are only so many options available when it comes to mortgage lending. Fortunately, there is one worst-case scenario option that is always available and that is to sell your home. This is not an appealing option understandably, but it’s to your benefit to recognize when it’s time to cut your losses. Defaulting on your mortgage is generally bad for your credit score and can affect future borrowing options. At the very least, selling allows you to take control of the situation for yourself. Hopefully, if your home has generated some equity, you will be able to sell and pay off what you owe and potentially even have some money left

over. This can help to tide you over while you get yourself resettled somewhere, but you may still need to get another loan to help cover closing costs and moving fees if your financial situation is very bad. WORK WITH A MORTGAGE BROKER If you have had your mortgage renewal denied or think it will be denied, you are going to need to find another option and you may not have a lot of time to do it yourself or understand where to look in the first place. Whether you decide to switch to a new lender or go the route of alternative or private lenders, you should highly consider working with a mortgage broker. They can help you find all of the options available to you and can help you compare to find the best rates. In many cases, you will not need to pay them for their services. Mortgage brokers are trained professionals who work exclusively with mortgages and they will be your number one point of reference when navigating a denied mortgage renewal. CONCLUSION It can be a scary experience when you are denied a mortgage renewal, especially if you didn’t realize it was coming. Luckily, there are still options for homeowners after this has happened and there is help to be found in the form of a mortgage broker. Overall, being proactive about your financial situation as much as possible to avoid rejection is your best option. Beyond that, you should make sure you understand your options after a denial as you may need to act quickly to make sure you can continue your mortgage.

Living in the Sunny South Thinking of moving to Florida? Here are several homes that the Realty Group has available.

Property Listings Courtesy of John R Wood Properties and Berkshire Hathaway Home Services

Toscana Way in Bonita Springs - What a home! The Lorenzo model is the largest (2, 387 sq ft) carriage home with 3 bedrooms, den, 2 baths, screened lanai and a garage. Beautifully furnished and being sold turnkey, with lots of upgrades. The view is spectacular overlooking the 12th and 13th fairways. The gourmet kitchen features white cabinets, newer appliances, a separate sunny breakfast room. Crown molding, Plantation shutters, vaulted ceilings, recessed lights, a Jacuzzi tub and seamless master shower, and beautiful built in cabinets in den. Close to the neighborhood pool and a short walk to the clubhouse, with both indoor and outdoor dining venues, golf, tennis, fitness center and bocce. Vasari is conveniently located in South Bonita Springs just minutes to Mercato and Coconut Point. The beaches, airport and expressway are all close by. Vasari was a twice winner of Community of the Year Award. The recently completed multi - million clubhouse expansion is something to experience. All owners receive automatic membership in the Club including the 18 hole golf course that is challenging for all levels of play. Stop by and see what makes this so special.

Corsia Trieste Way in Bonita Springs - Vasari Country Club is the #1 Bundled Golf Community in the North Naples / South Bonita Springs area. It is also the best value in Country Club Living. Live close to the neighborhood pool for a quick splash or a day of relaxing on the chaise and catching up with your favorite book. This 2 bedroom, den, breakfast room and a screened lanai overlooking the 3rd fairway is being sold turnkey and was hardly lived in. Stainless Steel appliances, Crown molding, granite countertops, 9’2 ceilings in living / dining room, kitchen pass thru for breakfast or light meal, and a split plan with a private guest room and bath. But that’s not all. All owners in Vasari Country Club have full club membership which includes an exceptionally maintained 18 hole golf course challenging for all levels of play, 6 tennis courts with competing league competition, 3 bocce courts with over 700 active players, a fitness center and your choice of two restaurants. The casual Taverna with both covered and uncovered seating is open for lunch, an afternoon drink after playing golf or a casual dinner with friends. The upstairs restaurant features award winning food that is as good as any upscale area restuarant.

FOR

LEASE

262 Timothy Court in Mississauga FULLY FURNISHED 4 BEDROOM FOR LEASE This beautiful home is ideally located on a prime court location in the Mineola community of Mississauga is exclusively listed for lease. Wonderfully renovated with stainless steel appliances and granite countertops in the kitchen, the kitchen provides access to the covered patio with a generous area for outdoor dining and a play area for children. An open concept living room and dining room that is conveniently located close to the kitchen. A spacious and bright family room provides room for family fun or office area. The four bedrooms are all spacious and well appointed; while the primary bedroom features a walk-in closet and a 4 piece bath with a large soaker tub. The basement is fully finished with another family room that provides space for another office area should you require it.

FOR

SALE

This luxurious listing is courtesy of RE/MAX By The Bay Brokerage.

306 O’Hara Point Road in Port Severn SPECTACULAR PROPERTY ON GLOUCESTER POOL/TRENT SEVEN Only a short drive from Highway 400 North of Port Severn...you will drive through a well maintained private road surrounded by a maple sugar bush highlighted by tall white pines, to a south-west facing waterfront retreat! The beautiful four season cottage/home sits atop an amazing bedrock escarpment overlooking the pristine waters of Gloucester Pool, wrapped in a wonderful 400 ft of sandy/ rocky shoreline. Sunsets and glistening clear water views from the outdoor kitchen and gardens will make you the envy of your friends and neighbors. The 3,369 square foot 3 bedroom home plus accessible suite on main floor, has 4 bathrooms, infloor heating and a massive stone fireplace reaching up to soaring ceilings with natural wood finishes. On the lower level there is a 3 car garage with its own accessible elevator to the main floor accommodation. The home also has a generator with auto transfer switch. The outdoor grounds and waterfront are also easily accessible with level waterside concrete retaining walls, a fire pit with kayak and canoe racks. For more information on this and other luxury homes, contact the visit www.tbaird.com

Realty Group at 647-298-0997 or

Ten Blooming Trees FOR YOUR GARDEN Written by Ronda Swaney. Photos by Marcus Lindstrom/iStock/Getty Images Plus.

We’re used to the green shades and textures of evergreens and the seasonal leaf changes of deciduous trees. But blooming trees expand beyond typical green to add a range of colors to your yard. Turn to these ten popular flowering trees to brighten your shade with color. DOGWOOD

MAGNOLIA

Dogwoods produce white or pink blooms in early spring. They thrive near water, either along streams or creeks or in areas with regular rainfall. Height depends on variety and can range from shrub height up to forty feet. Varieties also cover several growing zones. Pacific dogwood thrives from Southern British Columbia to Southern California. Flowering dogwood thrives mostly in the eastern US in USDA growing zones 5 to 8 but may appear in the wild in Southern Ontario.

Magnolias sport leathery leaves and large showy flowers in pink, white, or purple. These are among the oldest known flowering plants, with fossil records dating back more than 100 million years. Southern magnolia is a common variety. The saucer magnolia is hardy and can be grown in Canada. Depending on the cultivar, magnolia tree height ranges from fifteen to eighty feet.

ORNAMENTAL CHERRY These trees bloom spectacularly in spring, loaded with copious white and pink blossoms. This

showy display is short-lived, lasting about a month. Spring isn’t the only season of interest for these trees; many varieties boast brilliant red and golden leaves in the fall. They grow to twenty to thirty feet and some varieties produce fruit mostly eaten by wildlife. Yoshino, Kwanzan, and weeping cherry trees are popular North American varieties.

CRABAPPLE The springtime blooms of crabapples range from deep red to pink to white and last only about four to five weeks. Fruit appears from fall to winter and may be

gold, orange, pink, or red. Wildlife feasts on fruits that can also be harvested to make jelly. Mature height depends on variety and may range from ten to forty feet. Cultivars of this tree can be found throughout North America.

SERVICEBERRY Serviceberry trees offer yearround interest with white blossoms in the spring, edible summer fruit, red or gold leaves in the fall, and showy gray bark during winter. These adaptable plants grow well in full sun to partial shade and reach ten to twenty feet tall. They are robust and thrive in

most North American growing zones. Downy serviceberry and Canadian serviceberry are popular varieties.

HAWTHORN Hawthorns are hardy trees, requiring little maintenance once established. They tolerate sun or shade and most soil types. Their springtime white flowers look like apple blossoms, but some varieties have pink to dark-red blooms. Fruits appear in fall and winter and are mostly eaten by wildlife. Most varieties grow no larger than twenty-five feet. Native varieties of this tree are found in both

the US and Canada.

SMOKE TREE These sun-loving trees come with green or purple leaves and produce puffy flowers in the spring, inspiring the name. Flowers may be creamy white, pink, or purple. They offer fall interest with deep-hued red, yellow, or purple leaves. Smoke trees reach ten to fifteen feet at maturity. This adaptable tree tolerates most soil types; it is drought tolerant but can also manage in wet environments. Smoke tree grows well in US and Canadian growing zones 4 to 8.

OLEANDER Oleanders love sun and bloom in the height of summer. Varieties flower with pink, red, yellow, or white blooms. These trees cannot survive in locales with temperatures below 20 degrees Fahrenheit, so they are best suited for the southern US and other temperate zones. These drought-tolerant plants range from ten to twenty feet tall. Oleander is salt tolerant, so they excel in coastal settings. Hardy Pink is a popular pink variety and Algiers is a popular red-bloomed option. (It is also poisonous, so deer will leave it alone.)

REDBUD Redbuds prefer well-drained soil and partial shade. These trees feature early to mid-spring blooms that last about two to three weeks. Blooms are pink, red, or purple. Most sport green leaves during the summer that turn brilliant orange or red in fall. Redbuds grow between twenty to thirty feet tall and require minimal care once established. Redbuds are native to the eastern US and parts of Ontario. The Eastern redbud is a popular variety.

CRAPE MYRTLE Crape myrtles prefer sun and tend to grow best in the southern US. They bloom for months in the height of summer and come in a wide range of both leaf and bloom colors. Leaves range from dark purple that appears almost black to bright green, while flowers may be white, red, salmon, pink, or purple. Crape myrtles provide winter interest with peeling bark that adds texture to a late-season garden. Varieties range from ten to thirty feet tall. Arapaho is a popular variety that blooms red, while Natchez is a popular white-blooming option.

Buying a home can be one of the most heart-wrenching and nauseating adventures of your life. But once closing is scheduled, that’s it, right? The stomach -in-your-throat feeling should go away and all is smooth sailing. Well, not always. There are many reasons closings may get delayed. Don’t let this list get you down, but it’s a great bit of knowledge to tuck away just in case. Try to remember that sometimes delayed closings do actually happen. REPAIRS WERE DELAYED In this age of short labor and uncertain supply chains, repair delays are inevitable. It happens in ideal times, too. Maybe it happens because a part didn’t come in for that water heater that was on your repair sheet, or there was no one available to fix the siding where someone’s grill got a little overly excited and left a mark. Sometimes you have no choice but to wait to close, especially if you’re using a loan type that requires the requested repairs be made prior to closing. But, in other cases, your real estate agent can create an addendum to your contract that allows the closing company to hold the cost of repairs in an escrow account for you, so that they are made on your behalf once the labor and materials are available. NEED A PROFESSIONAL? HomeKeepr is the only platform where

homeowners can discover home service pros powered entirely by real referrals from real people – not reviews. FINANCING ISSUES Many homebuyers, especially first-timers, don’t realize that their financial information will be verified again prior to closing. It has to match, more or less, what it was when you applied. So, same job, same amount of money in the bank, same amount of debt (or less, less is ok), same everything. Usually that’s possible within the narrow window between loan approval and closing. Unfortunately, sometimes things go wrong, and that second verification reveals a new credit line that’s been opened (for new house stuff, of course), or a change in employment, or some other problem. In these cases, closing will be delayed until those issues can be resolved. Moral of the story? Don’t do anything financially interesting between approval and closing, and all will be well. ARE YOU MOVING Moving is hard, but I’m here to help! Use my FREE concierge service to help you get up and running faster in your new home. It’s quick and easy. APPRAISAL WAS TOO LOW In the current real estate atmosphere, with prices changing radically at the drop of a hat in some

markets, it’s not unusual to hear of a closing that’s been delayed due to an issue with the appraisal. Of course, the issue isn’t with the appraisal, so much as it is with the market data no longer supporting the seller’s asking price for their home. The appraisal is just numbers on a page, based on what’s already been sold. A too-low appraisal can delay closing, since sometimes a second appraisal will be needed to verify that there were no errors in the first appraisal, or the seller and buyer will have to go back to the table and renegotiate the terms of the contract. If you have to renegotiate your contract, it’s likely going to be due to your bank’s unwillingness to loan more than the house will appraise for at that moment. In that case, the contract will need to be reduced to the appraisal price. Sometimes this is possible, sometimes it’s not if the seller owes a fair amount on their house or needs the difference to make their next purchase. There’s not a lot you can do if you can’t come to terms, but most of the time, your real estate agent and closing agents will find a way. NEEDING HELP TO KEEP CLOSING ON TRACK? Just drop in to your HomeKeepr community and ask for help finding the kinds of services you need to get your closing back on track. You’ll find any kind of home pro you could possibly imagine within our digital neighborhood, from general home repair professionals to specialists like HVAC experts. You can even get recommendations for insurance agents, bankers, and escrow services from HomeKeepr! Why not sign up today? It’s free, and meeting your next roofer, gardener, or interior designer could be just a few clicks away. the US and Canada.

FOR

SALE

701 - 385 Prince of Wales Drive, Mississauga CALLING ALL INVESTORS! Do you have a student entering Sheridan College in the Fall and you’re looking for somewhere for them to live? Or are you looking for an investment property with amazing rental potential due to its outstanding location and proximity to businesses, schools, retail, and transit? This bright and spacious unit in the highly sought-after Chicago Towers, in the heart of Mississauga may be just what you’re looking for! With award-winning amenities and just steps away from the Living Arts Centre, City Hall, and amazing restaurants, this 1 bedroom, 1 bathroom condo has it all. Call us today for more information.

NEARLY HALF OF HOMEOWNERS WOULD RATHER RENOVATE

Story and photos published on June 8th, 2022 on www.storeys.com

ousing prices in the Greater Toronto Area are so astronomic that a growing number of homeowners would much rather stay put and renovate than incur exorbitant charges when buying and moving to a new home.

A survey by Potloc commissioned by digital home renovation platform Billdr revealed that 39% of respondents — 93% of whom are homeowners and the remainder soon-to-be homeowners — chose to renovate instead of move because housing prices were prohibitive. Moreover, 22% of homeowners used existing equity as the primary means

of financing their renovations. Additionally, 58% intended to invest in a fixer-upper with the goal of turning it into their dream homes, while 23% cited stress as their primary motivation for renovating instead of moving, and 11% reported the dearth of available supply as the reason for choosing to renovate in lieu of purchasing.

By the third quarter of 2020, housing prices in the GTA grew so high that many prospective homebuyers had already become priced out, a trend that has hitherto continued unabated. “More and more people in Toronto, especially, are looking to renovations because they’re doing the simple math. If hous-

ing prices are 1,000-1,500 per sq. ft and construction is 300500 per sq. ft, right off the bat it’s way cheaper in this day and age to renovate and build additional space than to go and buy that space, so that is definitely driving more demand,” said Raphael Sammut, Billdr’s General Manager of the Toronto market. OLD HOUSING STOCK IN NEED OF REPAIR Still, purchasers, especially those in Toronto proper, often have nary a choice but to undertake renovations because of how old the city’s housing stock is. While buyers were frequently renovating before the pandemic in preparation for listing their homes, white-hot market conditions of the past couple of years spurred an obverse trend, Sammut says. “Before the pandemic, a lot of existing homeowners were renovating to try to entice demand, and they had an easier time selling, but now we’re seeing the opposite with renovations linked to the purchaser who’s taking it on because buyers don’t feel the need to entice people,” he said. “Anybody buying a house in Toronto is usually buying a place that’s in pretty rough shape and they will need to do renovations.” But there’s also the additional cost of moving that isn’t reflected in listing prices, says Tom Storey, a broker with Royal LePage Signature Realty in Toronto. Moving is extremely expensive. Not only do you pay a land transfer tax, real estate fees, lawyers, all that god stuff, it’s stressful and to make that happen, you have to really want it,” he said. “A lot

of people who bought have a lot of equity in their properties, so maybe they have cash on hand to do these renovations, or maybe they do a refinance or take out a HELOC [home equity line of credit] at today’s interest rates and still make it work for them.” The most common renovations occur in kitchens. To modernize them, and also to optimize the liveable space inside old Toronto homes — many of which are over half a century old — kitchens now commonly adopt open concepts, which Sammut says are remarkably successful at elongating interiors despite narrow lots. “There’s usually a very strong focus on the kitchen as the centrepiece, and there are lots of variations of kitchen renovations, but commonly we’re seeing a move towards open concept design. When a lot of these homes were built in the last 50 years, the kitchen was always tucked away in the corner of the house,” he said. “I’ve seen many, many, many people trying to do a full refresh of their house and investing a lot of money and energy into designing a kitchen space and a main floor, and tying it all together.” EXPANDING EXISTING SPACE Basement renovations are also common in Toronto. Again, because the houses are old, basement ceiling heights can top out at six feet, so the underpinning is usually lowered by a few feet to create that liveable space. “People look at adding a second floor to a bungalow or more space to the house [through an extension]. People try to

add more space to their house knowing they can’t afford to move somewhere else in the city and buy a bigger house,” Sammut said. There are also people who renovate their houses to add secondary suites, usually in the basement, although triplexing, even fourplexing, a house isn’t out of the question for many people, he added. “There are more people looking at how they can generate revenue from their property,” Sammut said, “[but] I haven’t seen a ton of people go the laneway suite route or the garden suite route, which is building a separate structure, but people are definitely looking to partition their homes and create rental space to offset higher mortgage costs.” The best home renovations are the ones undertaken by end users rather than investors because, Storey says, the attention to detail is writ large. He added that the best returns on investments are kitchen and bathroom renovations. “What’s nice too is when you do a renovation for yourself, you care more about the quality than if you did a renovation to sell a property,” he said. “If you find yourself in a position where something happens and you have to sell, you’re selling something you put a lot of time and effort into, and that alone with help raise the resale value because it’s the small details and qualities in finishes that you notice. It might be hard to tell in pictures, but when you see it for yourself you can always tell.”

THERESA RECOMMENDS FOOD AND DRINKS

Garlic Lime Shrimp

By Katie Bandurski Text and photos from tasteofhome.com

“Our son, a restaurant owner, showed me how to make this Garlic Lime Shrimp dish. I take advantage of this area’s ample shrimp supply and make this special entree often. It’s also tasty served over rice.” Gertraud Casbarro, Summerville, South Carolina

INGREDIENTS 1 pound uncooked shrimp peeled and deveined, 31-40 per pound 5 garlic cloves minced 1/2 teaspoon salt 1/4 to 1/2 teaspoon cayenne pepper 1/2 cup butter 3 tablespoons lime juice 1 tablespoon minced fresh parsley Hot cooked pasta

METHOD In a large skillet, saute the shrimp, garlic, salt and cayenne in butter until the shrimp turn pink, about 5 minutes. Stir in lime juice and parsley. Serve with pasta. Prepeation time: 20 minues total Serves 4.

Summer Sour

By John Debary. Photo and text posted on May 24th, 2022 on bonappetit.com

We love the simplicity and flexibility of sours, the family of cocktails that combines a base spirit (literally anything) with fresh citrus like lemon and/or lime, and a sweet element, often simple syrup. In this case, we use John deBary’s Super Summer Fruit Syrup, a bright and glorious combination of peak summer fruit like peaches and mangoes, infused with chamomile, ginger, and turmeric. It provides the sweetness that works alongside a base spirit and citrus juice to create a wonderfully balanced summer sipper.

INGREDIENTS Makes 1 2 oz. gin, tequila, rum, or your favorite liquor 1½ oz. Super Summer Fruit Syrup (see recipe) ¼ oz. fresh lime or lemon juice Lime twist (for serving; optional)

METHOD

Combine gin, syrup, and lime juice in a cocktail shaker. Add ice, cover, and shake vigorously 15 seconds. Strain into a chilled coupe or old-fashioned glass. Garnish with a lime twist if desired.

FOR

SALE

68 Broadview Avenue, Toronto Architectural Enthusiasts & Loft Aficionados Rejoice! Astonishing hard-loft conversion in the heart of South Riverdale. The finest in contemporary living. Impressive and sophisticated space with urban appeal. Enjoy open concept living space with soaring 10.5 ft preserved original wood ceilings, exposed brick, large industrial windows and concrete floors complete with serene courtyard views. Ideally situated steps to trendy shops, dining and retail, plus parks, TTC and so much more! Included extras: 1 parking. Extra large locker. Fridge, stove, dishwasher, washer/dryer, microwave, custom Ipax wardrobes in master, custom window blinds, all elf’s. Original factory fire door and interior faux factory window. New hvac, and visitor parking. Fantastic opportunity to own this incredible unit, call 647-298-0997 today.

Our Clients Say It Best... Just a few words to say how much Elaine and I appreciated what you did for us for the sale of our condo. We found your staging to be thoughtful, speedy and thorough and the photos and walkthrough on your website were excellent. You were available at all times and knowledgeable about any concerns we may have had, thus taking a lot of our worries away. Having sold in a couple of days and at considerably higher than asking, we couldn’t have asked for more! Know that we shall be highly recommending you to any of our friends who require real estate services. With grateful thanks. - Elaine & Stuart We just wanted to send a huge thank you to Theresa and her team, with a special shoutout to Lindsay. We were guided through the sale process every step of the way. Our condo looked unbelievably great once it was staged and when it hit the market it sold in under a week for an amazing price. We were totally wowed. After looking after us through the sale, they then found us the ideal rental property and helped us with all the mountains of paperwork involved, something we didn’t even realize they could help with. We couldn’t have done it without them, they definitely went above and beyond, and they will be the team we call for our next home purchase. With their dedication to helping us and making sure we were ok during this stressful time, we would highly recommend the TB Realty Group to buy, sell or rent. - Sarah and Jim Knowledgeable, current, and quick to respond - what more do you want when hiring a real estate agent and broker? Collectively they have years of experience and the right connections to boot. Every step of the process was enjoyable, collaborative and transparent. Bonus points for the Matterport edge which makes virtual viewings easy! Two houses sold and one bought with the help of their solid guidance. We are thankful for Lindsay and Theresa and look forward to moving into our new home and community in June. - Rob and Jen

MEET THE TEAM Theresa Baird - Broker Theresa is an award winning professional real estate agent. She has been in the industry for over 20 years, and prides herself on being able to communicate with her clients. Theresa’s aim is to make every client feel like they are the only client – even though she is typically working with 10 or more at a time. Theresa loves meeting new people and getting to know them, which makes her job perfect for her! Theresa enjoys the diversity of her business. She is able to provide clients with excellent service due to her extensive knowledge and experience in the Real Estate market. Theresa is committed to delivering what her clients need. She is a Master Certified Negotiation Expert and works hard to put the most amount of money in her client’s pockets. Theresa will work with you from beginning to end, ensuring that your closing is as stress-free as possible.

Lindsay Meadwell Real Estate Agent Since receiving her license, Lindsay has utilized her knowledge of the industry, along with her hard-working attitude and passion for providing excellent customer service to help several families meet their real estate goals. Lindsay believes in the importance of developing strong client relationships that will last a lifetime.

Samantha McGrath Real Estate Agent Samantha has worked in the Real Estate world for the past 6 years. She began at our Keller Williams Brokerage on-boarding new agents and teaching them our systems and technology. She has acquired her Real Estate license and is now working with the TB Realty Group. She enjoys working with both sellers and buyers.

Carolina Mauti Administrative Assistant After years of working as a successful real estate agent, Carolina is the TB Realty Groups administrative assistant.

Julia Baird-Oryschak Real Estate Agent Julia has worked and trained across the globe and brings her go-to-market strategies, campaigns and domestic expansion skills to the TB Realty Group. After completing her BSc and BBA she has joined the TB Realty Group where she brings her great customer skills and resourcefulness into play.

Dereck Addie Graphics/Photography Dereck has been working in the graphic design field for over 20 years and enjoys the challenges of working with the TB Realty Group.

luxury (noun) The pleasure and comfort derived from expensive and beautiful things. A condition of abundance - having the time and money to do the things you would otherwise be unable to do. To feel lavished upon or spoiled. Think royalty; Think opulence; Think extreme extravagance. At the end of the day, luxury is a state of mind...

KW Luxury is a force in the luxury space. Our vast and exclusive network of 10,000 designated Luxury agents helped sell and purchase $5.9 billion of real estate YTD through agent-to-agent referrals alone. No matter where you are in the world or what your real estate needs are, we’ve got you covered.

Real Estate Associates, Brokerage

647-298-0997

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