MFR Newsletter – February 2017

This month Modern Family Realtor had the privilege to be the keynote speaker at the KPMG Diversity Conference.  We want to thank you for supporting a LGBTQ business and feel lucky to live and work in such a multicultural, diverse and accepting city.

It’s always good to be aware of the latest home and garden trends, especially if you’re looking for ways to make your home more appealing to buyers.  This month’s article highlights a few of the latest trends.

Thanks so much for checking out this month’s newsletter.  Please get in touch if you have any questions or comments regarding the articles, or real estate in general — it’d be great to hear from you!

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Keynote Speech at KPMG Diversity Conference 

The Modern Family Realtor team had the opportunity to speak to over 150 people at the KPMG head office.  It was an honour to be selected as a diversity leader and share our message of acceptance and love below.

The world is changing for the good and bad. Even with Trump in power it is even more important to stay united, not divided. We want Jasmine to grow up in a world that is inclusive of everyone no matter your gender, race, sexual orientation, religious belief and political affiliation. Love is love and we believe the world just needs more acceptance and less hate.

If I could leave you with one lesson it is that being who you are and accepting yourself first will make it easier for others to accept you.  Be with who you want to be with, do what you want to do and life will be your oyster.

If Trump has taught us anything it is that anybody, I mean ANYBODY can be president of the United States so what is stopping you from following your dreams and reaching for the sky!

Stay tuned for a video of the entire speech.

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The Toronto Real Estate Market Report

Toronto real estate market off to a strong start!

Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 5,188 residential transactions through TREB’s MLS® System in January 2017.

This result was up by 11.8 per cent compared to 4,640 sales reported in January 2016.  Annual rates of sales growth were higher for condominium apartments than for low-rise home types.

January 2017 picked up where 2016 left off: sales were up on a year-over-year basis while the number of new listings was down by double-digit annual rates for most major home types.

“Home ownership continues to be a great investment and remains very important to the majority of GTA households.  As we move through 2017, we expect the demand for ownership housing to remain strong, including demand from first-time buyers who, according to a recent Ipsos survey, could account for more than half of transactions this year.  However, many of these would-be buyers will have problems finding a home that meets their needs in a market with very little inventory,” said Cerqua.

The MLS® Home Price Index (HPI) Composite Benchmark price was up by 21.8 per cent on a year-over-year basis in January.  Similarly, over the same period, the average selling price was up by 22.3 per cent to $770,745, with double-digit gains in the average prices for all major home types.

The National Home Show and Canada Blooms

Get inspired at North America’s largest home and garden event!

The annual National Home Show and Canada Blooms must mean that spring is right around the corner!

North America’s largest home and garden event is coming to downtown Toronto this March 10th – 19th at The Enercare Centre, Exhibition Place.2canadablooms

The National Home Show is a great place to visit if you’re looking for home improvement ideas.  Canada Blooms on the other hand offers inspiring and engaging fantasy feature gardens with some of the world’s top designers competing to win coveted awards for their unique creations.

Enjoy the co-location of two world class events — Canada Blooms, North America’s largest flower and garden festival and the National Home Show.  Hope to see you there!

Home Trends for 2017

The new year is a great time to update your living space!

It’s fun to follow the latest home and garden trends, especially if you’re hoping to make your home more attractive to buyers.  Here are a few of the latest trends to look out for:

  1. Shedquarters – A “shedquarter” is a private, backyard spot that can be used as an office, artist workspace or party area.
  2. Docking Stations – Small, pull down desks can be added almost anywhere as wireless technology enables us to shift away from traditional home offices.
  3. Vintage Vanities – Putting your bathroom sink on just about anything is huge this year!  Old dressers, filing cabinets and even tree trunks can be converted into unique vanities.
  4. Laundry Love – Homeowners are giving their laundry rooms some serious love with innovative storage solutions, bright lighting and even stylish wallpaper!
  5. Foodscaping – Instead of traditional vegetable patches, backyards are now being transformed into edible landscapes that include vegetables, berries, fruits and herbs.
  6. Smart Windows – Cutting edge window technology now allows our windows to be programmed according to the weather outside as well as the air quality inside.

Just like fashion, home trends can come and go so it’s important not to overcommit.  Hopefully these ideas have given you some inspiration as to what’s coming next, whether you’re thinking of selling or just simply looking to update your home.

Clean Up Your Digital Clutter

Get a jump on spring cleaning by clearing out your digital clutter.

_8s9nemczk0-oliur-rahmanPaper files are often the first items we purge during a spring clean but many times we neglect our digital files.  Kick off your spring clean this year with a deep, digital cleanse:

  1. Get a Pass – Use a password manager to encrypt one master password that can be used on all websites.
  2. Address Your Apps – Uninstall apps you no longer use to clear up space and keep your phone running smoothly.
  3. Manage Mail – Unsubscribe from emails you no longer read and delete old emails or organize them into folders.
  4. Clear Cache – Regularly clear your browser history, cache and cookies in order to create more storage and speed up your browser.
  5. Back it Up – Make sure all of your important files and photos are automatically backed up to the cloud to increase storage space.

This digital cleanse applies to your computer, smartphone and all your social media accounts.  While you’re at it, you should also review your privacy settings on apps and social media platforms to make sure you’re sharing information with the right audiences.

 

What Toronto’s Tallest Penthouse Condo Looks Like

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Posted by Derek Flack

The soaring Aura condo tower at Yonge and Gerrard – Canada’s tallest – is a place of extremes. While the mall at the base of the building is already half abandoned, the penthouse units at the top of the building, sitting some 80 storeys high, are the very definition of prestige and luxury.

There are three penthouse units at the top of Aura, and though none of them will compete for the most expensive in the city – that distinction goes to the Four Seasons in Yorkville – the largest of the condos (#7910) runs at over $3 million for roughly 3,000 square feet of space.

Photos by Matt Forsythe.

Toronto Real Estate Heading for Another Hot Year

803735609_7327665447160937715(Article via Trevor Dunn for CBC News “http://www.cbc.ca/beta/news/canada/toronto/toronto-real-estate-prices-1.3959671”)

The Toronto Real Estate Board (TREB) forecasts that Toronto real estate will get a lot more expensive in 2017, with the average price of a home hitting $825,000.

TREB is predicting another year of double digit growth in Toronto real estate prices, with the average selling price rising between 10% and 16%.

More than 100,000 home sales are forecast with the third straight year.

To read more, click here.
 

Sharp Rise in American Interest in Canadian Real Estate

Article via CTV News <http://toronto.ctvnews.ca/mobile/royal-lepage-reports-sharp-rise-in-american-interest-in-canadian-real-estate-1.3249450&gt;

483208412-real-estate-tycoon-donald-trump-flashes-the-thumbs-up-jpg-crop-promo-xlarge2New reports from Royal LePage suggest that many Americans who oppose Donald Trump are showing an increasing interest in purchasing property in Canada, as shown by a report on their website showing that Royal LePage’s web traffic surged 329% the day after the U.S. election (Nov. 8) and has grown 210.1% year-over-year the week after Trump’s victory.

To read more, click here.

Looking to Buy or Sell a Home in 2017?

Book a free consult with Modern Family Realtor and receive a free $25 Tim’s card. Looking to buy a home in 2017? Read below to see what industry experts are predicting for Toronto.

(Article via Tess Kalinowski, thestar.com)
zu-emj22x0o-nadine-shaabanaInterest rates

The inching up of interest rates and more stringent mortgage rules are among the factors that could play a role in tempering sales in the hot Toronto region market, says Jason Mercer, director of market analysis for the Toronto Real Estate Board (TREB).

Those influences could be enough for some households to put a home purchase on hold. But Mercer says most consumers will look for other choices in order to pursue their home ownership dreams.

“If you were thinking of buying a single detached home in Toronto, maybe now you’re looking at purchasing in one of the surrounding regions or you’re going to change both your home type and the geography you’re looking for,” he said.

The Trump effect

Bond yields have already risen, leading to those marginally higher mortgage rates.

But whether the inauguration of Donald Trump will ripple into the housing market is all part and parcel of the global economy, said Mercer.

“Obviously any factor that could affect the economy from a positive or negative perspective has to be taken into account,” he said.

Tim Hudak, CEO of the Ontario Real Estate Association (OREA), which represents 40 real estate boards across the province, is optimistic.

“There certainly seems to be a view that the American economy will grow faster now,” he said.

But that puts pressure on U.S. interest rates, which will force a decision around our own interest rates or letting our currency drop.

“Particularly in the GTA, real estate is a great investment. As the expression goes, we’re not making any more of it,” said Hudak.

To read more about supply and demand, condos, competition for homes, and first time buyers, click here for the full article.

Modern Family Realtor Goes Canada-Wide

MFR Real Estate Update – September 2016

Home Prices Continue to Surge on Weak Inventory

Toronto continues to grow even though the rest of Canada is experiencing some new challenges. The biggest change is the lack of inventory in the Toronto market.  We are 31.9% fewer listings when compared to a year ago which is pushing prices higher.  Vancouver is experiencing difficulties with the new 15% foreign tax which resulted in a large drop in volume of sales recently.  The Brexit vote looks like it will actually positively impact Toronto as foreign buyers in the U.K, Russia, China and India look for a safe place to invest in real estate in Canada with now Toronto being the most popular choice.  The Canadian economy on a whole is still under achieving which may also push interest rates lower or keep them stable for the long term which will help boost the residential market.   The average selling price was up to $709,825 up 16.6% year over year compared to July 2016.  All four major type of properties witnessed strong annual price gains as follows: (as per the Toronto Real Estate Board)

  1. Detached homes +21.1%
  2. Semi-detached homes +17.1%
  3. Townhomes +13.9%
  4. Condos +9.2%

If you are thinking of buying, selling or investing please contact me for a free consultation and receive a $25 Tim’s Card courtesy of Modern Family Realtor.

Modern Family Realtor Goes Canada Wide in “In Magazine”

Modern Family Realtor is growing and we want to make an impact not only in Toronto but across our great nation. The tremendous support we have got from Canadians is incredible.  This concept would not work in any other country in the world.  Canadians are multicultural, diverse and accepting people and are clientele reflect that.  We support the LGBTQ community but are allies are the ones who keep us growing so fast! Check out our new advertisement in the September/October issue of In Magazine in new stands across Canada.

Modern Family Realtor Gives Back Campaign Update

We are excited to announce the 3 winners of the Modern Family Realtor Contest.  First place Patricia Monteiro, second place Shane Das and third place Elsie Yeung taking home over $1,500 in prizes.  Thank you to the over 75 entrants and for sharing the love for Modern Family Realtor!  As announced in our Facebook Live video we will be continuing the Give Back Campaign with our Charity Donation and Leadership Scholarship initiatives coming up in the next few months. Stay tuned for more details!

As your real estate sales representative and former accountant I can assist you with any of your financial and real estate questions including creating a budget, RRSP Home Buyer’s Plan, Listing presentation, CMA, Buyer/Listing presentation and Income Taxes. Please contact me at 416-705-2444 to book a free consultation or visit our website for more information and listings at www.modernfamilyrealtor.ca.

From Your Modern Family Realtor Team – Paul, Ewan and Jasmine

Real Estate Board Predicts ‘Policy Ceiling’ Will Curb Toronto Homes Prices

The Globe and Mail