666 Euclid is Perfect for Discerning Tenants & or Owner Occupied Investment Home in Prime Annex. Four Suites, Numerous Upgrades Throughout, Three Tandem Car Parking, Great Revenue to Value CAP Rate, Expertly Maintained, Steps to Bloor Shops, Restaurants, Transit and Parks.
See “Tools” Section “Documents” for Floor Plans, Revenue Expense Summary, Features List by Suite.
Call me for a viewing or for more information … Buying or Selling James Metcalfe 416-931-4161
Investment Opportunities
SOLD in 3 Days / Contemporary Elegance with Iconic Views “The Berczy” 1009-55 Front St E. Toronto
Spectacular Light-Filled Corner Terrace Suite. 1350sf + 188sf Terrace. Contemporary Luxury, “The Berczy by Concert”, St Lawrence Market, 2 Spacious Bedrooms; 2 Full Bathrooms; Den and a Large, South-West Facing Terrace. Great Entertaining Space, Ample Wall Space to Feature Art. Numerous Premium Upgrades; Quartz Counters, 7 New Premium Appliances, Hardwood Flooring, Profile Millwork, Custom Sunshade Roller Blinds & Closet Organizers, 45 Feet of
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Jim
SOLD Detached Cabbagetown Condo Townhome in … Owl House Lane
One of Only Two Detached Owl House Lane Townhomes. 2+1 Bedrooms, 2 Baths, 2 Walk-Outs to Patios. Large Eat-In Kitchen, Custom Renovated Master Bath, Hardwood throughout, 1 Indoor Parking. An Outstanding Value; Based on 1881 sq ft = $371.61 per sf.
A Lovely Small Enclave of Townhomes in the Heart of Historic Victorian Cabbagetown. Steps to Restaurants, Shops, Transit and Parks.
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Why 2013 has been a Good Year for Toronto Housing
By: Mark Weisleder
A year ago many pundits were predicting a real estate collapse in 2013. My view was different. I expected the market to stay strong and prices to hold up, which is what has happened.
By the end of September, 68,909 total homes had changed hands in the GTA, 1,000 units less than the same period last year. But the first half of October was strong – about 20 per cent higher than a year ago. So, it seems that sales for the year will exceed 2012’s 82,200 units. Average prices are also almost 5 per cent higher than a year ago and there are still bidding wars in many areas, because there are more buyers than listings.
Here’s why this is happening:
Low interest rates
Events like the U.S. fiscal cliff, civil war in Syria and instability in the Middle East, have had little impact here. Canada remains an island of stability. Things will only improve as economies in the US and European Union continue to improve. Interest rates may rise a little over the coming year, but the moves are unlikely to have a serious impact on the market..
Canada’s appeal to immigrants
We continue to be the envy of the world when it comes to quality of life and the fact that so many cultures and communities can live in harmony. That is why over 150,000 people come to Ontario each year, with the majority in the GTA. They have to live somewhere.
Low rental vacancy rates
The Toronto condo market has slowed somewhat, but prices haven’t crashed. The reason is that the vacancy rate for rental condominium units in downtown Toronto is 1.7 per cent. As a result, the average rent for a two bedroom condominium is about $2,500, which is also the amount an investor needs to carry an average two bedroom condominium, even if it costs $500,000. If you can carry your condo, you are in no rush to sell or lower your asking price.
People have been predicting the real estate market crash in the GTA for the past 13 years. It hasn’t happened yet and won’t happen next year either.
James Metcalfe’s Toronto Real Estate Update October 2013
VOLUME, PRICES SURGE IN SEPTEMBEROCTOBER
2013Greater Toronto REALTORS® reported 7,411 residential sales through the Toronto MLS system in September – a whopping 30% increase versus September 2012 sales of 5,687 units. Double digit volume increases occurred across all four key market segments: single-detached (+34%), semi-detached (+20%), townhomes (+31%) and condo apartments (+29%). This is the third consecutive month of double digit volume growth and demonstrates that the pent-up demand which had built up over a one year period following the July 2012 introduction of stricter mortgage lending criteria is now being satisfied in earnest. The bottom line is that home ownership remains highly affordable given the current mix of prices, interest rates, incomes and lending criteria guidelines. The average price of a GTA resale home in September was $533,797 – a healthy 6% increase versus the September 2012 average price of $501,326. Price growth varied by market segment: single-detached (+8%), semi-detached (+2%), townhomes (+10%) and condo apartments (-2%).
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Best Regards;
Jim Metcalfe 416-931-4161