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.

 

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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.
 

MFR Newsletter – January 2017

Toronto Real Estate News by Paul Chan

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Hi there,

Please welcome Ellen Li to the Modern Family Realtor team as our new Marketing Manager. Feel free to reach out this month to get your free marketing and listing consultations if you are planning to sell or buy a home in 2017.

If you’re planning on a renovation, you’ll want to make sure to prepare in advance at it’ll likely get a bit messy and chaotic. This month’s article offers some advice on how to plan your renovation so that things will go as smoothly as possible.

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!

The Modern Family Team is Growing!

803734224_8128082251109758508Modern Family Realtor is proud to announce the addition of Ellen Li as our new Marketing Manager.  Ellen has a strong background in marketing from Rotman Commerce at the University of Toronto.

She has assisted many organizations grow their marketing and social media platform with strong results.  Feel free to connect with Ellen if you are interested in getting your own customized marketing plan for your property in 2017!

Continue reading “MFR Newsletter – January 2017”

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.

MFR December Newsletter – $2,500 to 50+ local Charities!

unnamedModern Family Realtor is proud and privileged to announce that we donated $2,500 to over 50 local charities!  We would like to thank all of the charities, volunteers and clients who participated in this year’s Modern Family Realtor Charity Gives Back Campaign!

If you’re planning on selling your home, it’s important to be aware of some common mistakes that sellers often fall victim to.  This month’s feature article discusses what not to do when selling your home.

There’s also some advice on how to spot online scams that are so popular during the holiday season as well as a few tips on how to avoid the flu.

Thanks so much for checking out this month’s newsletter.  Please get in touch if you ever have any questions or comments.  In the meantime, here’s wishing you all the best during the holiday season!

Paul Chan


A special acknowledgement to Save Me Rescue who generated the most votes.  Here are the top 5 charities that you voted for.

1. Save Me Rescue
2. Speaking of Dogs
3. TLC Animal Aid
4. Lotsadogs Rescue
5. Make a Wish


 

The Toronto Real Estate Market Report

Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 8,547 home sales through TREB’s MLS® System in November 2016.  This result represented a 16.5 per cent increase compared to November 2015.

For the TREB market area as a whole, sales were up on a year-over-year basis for all major home types.  The strongest annual rates of sales growth were experienced for the townhouse and condominium apartment segments.

“Home buying activity remained strong across all market segments in November.  However, many would-be home buyers continued to be frustrated by the lack of listings, as annual sales growth once again outstripped growth in new listings.  Seller’s market conditions translated into robust rates of price growth,” said Mr. Cerqua.

The MLS® Home Price Index (HPI) Composite Benchmark was up by 20.3 per cent compared to November 2015.  The average selling price at $776,684 was up by 22.7 per cent on a year-over-year basis.

“Recent policy initiatives seeking to address strong home price growth have focused on demand.  Going forward, more emphasis needs to be placed on solutions to alleviate the lack of inventory for all home types, especially in the low-rise market segments,” said Jason Mercer, TREB’s Director of Market Analysis.


Skate by the Lake this New Years Eve! 

The Harbourfront Centre’s family-friendly New Year’s Eve Skating Party is a great place to ring in 2017!

New Year’s Eve on the Natrel Rink will be a musical cornucopia of skate friendly tunes served by DJ P-Plus including R&B, old school hip hop, soul, top 40 and much more!

Details are still being announced but Nathan Philip’s Square is another fun place to head to as there will be skating and then later on live entertainment on the main stage.  The entertainment will likely then be followed by a dazzling fireworks display.

Whatever you decide to do this New Year’s Eve, here’s wishing you a very happy and healthy 2017!


Sellers Behaving Badly

There are various emotional side effects to selling your home.

Mistakes mean your home will sit on the market longer and eventually sell for less.  Try and get it right the first time by avoiding the following:

  1. Overpricing – Home sellers are often tempted to price their home way above market value but this tactic usually backfires.  The longer a home sits on the market, the more of a stigma it’ll develop.
  2. Restricted Access – It’s easy for buyers to skip your home if it’s not easily accessible.  The goal is to show your home to as many people as possible so using a lockbox is key, pardon the pun 🙂
  3. Hanging Around – Owners should always leave before a showing so buyers can browse without distractions.  If a buyer can make themselves feel at home, they’ll be better able to envision themselves living there.
  4. Poor Staging – You may love the statement your pink bathroom makes but odds are others won’t so consider a more neutral shade.  Also, make sure to get rid of excess clutter and take care of any outstanding repairs to portray pride of ownership.
  5. Going It Alone – Selling your home can be an overwhelming experience.  A real estate agent’s job is not only to expose your home to the masses but also to act as a 3rd party negotiator to help you get the highest price in the shortest amount of time.

Your home is most likely your biggest asset so when you decide to sell, it’s important that you do it right. Viewing the sale of your home as a business transaction and putting aside any emotional ties you may have is a great start to ensuring you sell your home quickly, easily and for top dollar!


Shopping Scams are Coming To Town

Make sure to be on high alert for online scams this holiday season.

It’s convenient to shop online from the comfort of your home during this busy time of year but the hectic holiday season is also a popular time for cybercriminals.  Here are a few scams to be aware of:

  1. Delivery Details – Be wary of emails claiming “you have a parcel delivery but your address needs to be verified” as it’s likely a scam.
  2. The Hot Ticket – Desperate shoppers eager to score hot holiday gifts are easy prey for cybercrooks who set up legitimate looking websites that show the popular item in stock.
  3. Fake Shopping Apps – Fake retail and product apps designed to steal your personal or financial details are increasingly common and hard to recognize as they closely resemble popular brands.
  4. Holiday eCards – Don’t open eCards if you’re not sure who they’re from.  Instead of a warm holiday greeting, it could be a cyber scammer whose gift comes in the form of a virus or spyware.

Unfortunately, there are many people out there who aren’t thinking about holiday cheer and goodwill to all.  Keep yourself safe by updating your antivirus software, visit only trusted, secure sites and never open messages from people you don’t know.


Forgotten Flu Spots

Your home could be a breeding ground for the flu.

It’s no fun having the flu, especially during the holidays, so it’s important to clean shared spaces and frequently touched surfaces.  Here are a few spots to focus on:

  • smartphones & tablets
  • computer keyboard & mouse
  • light switches and remote controls
  • door knobs and handles on appliances and cupboards
  • car steering wheel, seat belts and shifter

Washing your hands with soap and water is the best way to fight germs but regularly sanitizing common germ infested hot spots is also key.  Remember to keep the hand sanitizer on hand (pardon the pun 🙂) and hopefully you’ll be able to avoid the flu this year!

 

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