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So far Ford & Chris has created 131 blog entries.
13 03, 2018

JUST LISTED! 225 Wellesley St E Suite 1207 – Cabbagetown Condo

2018-03-13T15:59:16+00:00

Welcome to Suite 1207 at The Star Of Downtown Condominiums!

Upon entering the suite you are immediately impressed by the open and airy floor plan, the attention to detail and the quality of finishes.

225 Wellesley Street East 1207 Cabbagetown Toronto

The open concept kitchen features beautiful wood cabinets, granite counter tops, stainless steel appliances, and a breakfast bar.

The living room is filled with natural light with large windows and a walk out to a private balcony. The living space, kitchen, master bedroom and den feature brand new engineered hardwood flooring for a seamless look.

The spacious den is ideal for a home office and could also be used as a media or guest room to suit your needs.

The 5 piece ensuite washroom is lovely featuring a full size bathtub and a separate shower. There is an additional powder room which is perfect for guests! Both washrooms feature brand new vanities for a fresh and modern look.

The master bedroom is absolutely stunning with ample natural light! Dual closets enhance this space perfectly.

The outdoor space is incredible. The private balcony provides enough space for a patio set to enjoy your morning coffee or a nice dinner on a warm summer evening.

Suite 1207 also includes ensuite laundry, a handy front hall closet for additional storage, a locker and parking!

Take a quick trip up one floor to the sprawling roof top terrace to enjoy barbequing while taking in impressive views of the downtown skyline!

Move in and enjoy this sensational space!

list price: $389,000
further info & photos: 225WellesleyStE.com

JUST LISTED! 225 Wellesley St E Suite 1207 – Cabbagetown Condo 2018-03-13T15:59:16+00:00
6 03, 2018

Toronto home prices continue to climb

2018-03-06T15:27:52+00:00

Average home prices in the Toronto region climbed more than 4 per cent last month as buyers began to absorb the impact of tougher new mortgage qualification rules introduced in January.

Toronto home prices climb

Data from the Toronto Real Estate Board showed home prices rose 4.2 per cent in February compared to January to an average of $767,818, marking the strongest month-over-month price gain since September.

Detached home prices rose 3.1 per cent across the Greater Toronto Area in February compared to the prior month, averaging $1,000,736, while condo prices climbed 4.4 per cent over January to an average of $529,782.

Despite the increases, average prices were down 12.4 per cent in February compared to the same month last year, when sales were booming prior to a price correction that began in May last year, TREB said.

TREB said 5,175 homes sold in February across the GTA , a 35-per-cent drop compared to the record 7,955 sales in February last year, but an increase of almost 29 per cent compared to 4,019 homes sold in January this year.

There were 10,520 new listings of homes for sale in February, an increase of 7.3 per cent from the same month last year, and a jump of 23 per cent from January. Despite the increase, however, TREB said the level of new listings still remained below the February average for the previous 10 years.

Jason Mercer, TREB’s director of market analysis, said he expects sales to pick up further as the year progresses.

“As we move further into the spring and summer months, growth in sales and selling prices is expected to pick up relative to last year,” he said in a statement, predicting price growth will come in the comparatively more affordable townhouse and condominium markets.

“That being said, listings supply will likely remain below average in many neighbourhoods in the GTA, which, over the long-term, could further hamper affordability,” Mr. Mercer said.

TREB president Tim Syrianos said his association anticipated sales would be slow in the opening months of 2018 compared to historic highs in early 2017.

He said prospective buyers “are still coming to terms with the psychological impact” of housing reforms introduced last April by the Ontario government, which included a new foreign buyer’s tax, as well as new mortgage qualification rules introduced Jan. 1 that require buyers to prove they can still afford their mortgages even if interest rates rise.

While sale prices are lower than they were at their peak a year ago, TREB said they are still up 12 per cent compared to the average sale price in February, 2016, “which represents an annualized increase well above the rate of inflation for the past two years.”

Scott Ingram, a Century 21 real estate agent in Toronto, said most home owners in Toronto have made money on their property despite last year’s downturn, calculating fewer than 9,500 buyers who purchased homes in the City of Toronto last year may still be unhappy because the benchmark price in January was at least $10,000 below the price they paid last year. He said they represent about 1.3 per cent of all homeowners in Toronto.

In a new analysis for his blog, Mr. Ingram said the benchmark prices for detached houses, semi-detached houses and townhouses in the City of Toronto in January were still below the peak levels they hit last year, but said prices for all housing types are higher than they were two years ago. The benchmark condominium price has increased compared to all months last year, so buyers in that category are not under water.

Even buyers who may feel “burned” by purchasing at the peak last year will be fine in the long run, Mr. Ingram said, as long as they do not plan to flip their home quickly.

For those who bought at the peak and planned to flip quickly, Mr. Ingram said the experience is a lesson that “real estate isn’t a guaranteed investment vehicle.”

Source: toronto home prices climb
Photo: Thurston Olsen Real Estate Team

Toronto home prices continue to climb 2018-03-06T15:27:52+00:00
5 03, 2018

SOLD! 110 Jones Avenue – Leslieville

2018-03-05T14:35:58+00:00

Sold within three days! 110 Jones Avenue, Toronto

Congratulations to our clients of 110 Jones Avenue on the quick sale of their two unit semi-detached home in Leslieville.

110 Jones Avenue Leslieville Toronto

This wonderful home is situated in the heart of Leslieville and features 2 separate units with amazing income potential! Steps to great restaurants, transit, parks, and everything that Leslieville has to offer, this home has it all.

The impressive 3 bedroom, 2 bathroom main unit is well appointed and has plenty of functional space to live and entertain. The main floor provides an open concept layout as well as an eat-in kitchen and a walk out to a newly built back deck to enjoy the afternoon sun. The second floor features 3 bright and spacious bedrooms, including a large master with a bay window and ample closet space. This floor also has a lovely 4 piece bathroom. Plenty of windows and a hallway skylight provide an open and airy feel.

The charming 1 bedroom, 1 bathroom lower unit features a practical living space and offers sizable rooms and a walk out to the back yard to enjoy year round.

This functional turn-key property is perfect for any investor or for anyone looking to supplement their mortgage payments. Live in one unit and rent out the other or rent them both out to maximize your cash flow.

SOLD! 110 Jones Avenue – Leslieville 2018-03-05T14:35:58+00:00
27 02, 2018

JUST LISTED! 110 Jones Avenue – Leslieville

2018-02-26T11:55:53+00:00

Just Listed for Sale!
Welcome to 110 Jones Avenue, Toronto, Ontario M4M 2Z8

110 Jones Avenue Leslieville Toronto

This wonderful home is situated in the heart of Leslieville and features 2 separate units with amazing income potential! Steps to great restaurants, transit, parks, and everything that Leslieville has to offer. This home has it all, and is only a short trip to downtown Toronto.

The impressive 3 bedroom, 2 bathroom main unit is well appointed and has plenty of functional space to live and entertain. The main floor provides an open concept layout as well as an eat-in kitchen and a walk out to a newly built back deck to enjoy the afternoon sun. The second floor features 3 bright and spacious bedrooms, including a large master with a bay window and ample closet space. This floor also has a lovely 4 piece bathroom. Plenty of windows and a hallway skylight provide an open and airy feel.

The charming 1 bedroom, 1 bathroom lower unit features a practical living space and offers sizable rooms and a walk out to the back yard to enjoy year round.

This functional turn-key property is perfect for any investor or for anyone looking to supplement their mortgage payments. Live in one unit and rent out the other or rent them both out to maximize your cash flow.

Offered at: $749,000
More info & photos: 110jones.com

JUST LISTED! 110 Jones Avenue – Leslieville 2018-02-26T11:55:53+00:00
21 02, 2018

We support SickKids and their new hospital campaign

2018-02-22T15:53:28+00:00

We donate a portion of every one of our transactions to the Children’s Miracle Network, which directly supports SickKids hospital in Toronto.

 

Late last year, SickKids Foundation announced the SickKids VS Limits campaign with a fundraising goal of $1.3 billion, the largest in Canadian health care history.

In anticipation of the public launch, $570 million in donations and pledges had been secured through philanthropy. This includes support from corporate partners, community organizations, events, individuals and families, reflecting the full breadth of the donor community.

The VS Limits fundraising campaign supports three key elements: re-imagining the campus, including building a new patient care centre on University Avenue ($600 million); continuing breakthrough paediatric health research ($600 million); and establishing partnerships for better, coordinated patient care ($100 million). The campaign period is anticipated to run through to March 31, 2022, just shy of five years from now.

When The Hospital for Sick Children (SickKids) was built at 555 University Avenue in 1949, it was the largest children’s hospital in the world. Some 87,000 donors contributed to the capital campaign and 85,000 Torontonians lined up for pre-opening tours – that’s more than four times the capacity of the Air Canada Centre. The hospital expanded in 1993, nearly 25 years ago, with the opening of the Atrium building at 170 Elizabeth Street.

Medical treatments and technology have come a long way since the 1940s or even the 1990s, making it more important than ever before for the hospital to evolve to fully realize the possibilities in children’s health. The vision for a hospital of the future includes state-of-the-art technology, facilities designed to enable the latest advances in clinical procedures, optimal patient safety and infection control, and best practices in family-centred care. In short, in order for SickKids to remain a world-leader in paediatric health, the time to realize a fully redeveloped campus is now.

“This is a once in a lifetime opportunity to change the future of children’s health. The people of Toronto and beyond have done it before and we are poised to do it again.”

A Campaign Cabinet, comprised of 68 individual business and community leaders, will serve in a volunteer capacity to help lead the charge on achieving the ambitious fundraising goal. The Cabinet is led by three volunteer Co-Chairs – Katie Taylor, current Chair of the SickKids Foundation Board of Directors; and John Francis and Patsy Anderson, the Foundation’s two immediate past Board Chairs.

To date, 110 Catalyst Donors have pledged their commitment of $1 million or more in support of the campaign to help build momentum for the bold undertaking. These include individuals and families, corporations, community organizations and events held on behalf of SickKids, all of whom were celebrated at the campaign launch event held today.

SickKids VS: All In

SickKids VS: All In video, a 2-minute rallying cry to the community asking everyone to join in and support the campaign to build a new hospital. The spot features 200 SickKids patient ambassadors and their siblings and was filmed in various locations throughout the city.

Its broadcast debut is on Saturday, October 28 during the Toronto Maple Leafs home game. The fully integrated marketing campaign is supported with a media buy, including TV, print, out-of-home, digital and social media. Out-of-home includes branded TTC streetcars, wild postings, murals, projections and stencils on 75 outdoor walls throughout the Greater Toronto Area, most of which have been donated to SickKids by the building owners.

Credit for the concept goes to Cossette, the agency of record for SickKids. The TV spot was directed by Mark Zibert of Skin and Bones, with music handled by SNDWRx. Media planning and buying was managed by OMD.

Click here to donate. Join us.

Source: campaign build new hospital

We support SickKids and their new hospital campaign 2018-02-22T15:53:28+00:00
15 02, 2018

Toronto real estate market off to a good start in 2018

2018-02-15T14:42:23+00:00

The Canadian real estate market got off to a good start this year with house prices rising in January, as Toronto saw its first gain in six months, according to a bank measurement.

Toronto real estate market off to a good start in 2018

The Teranet-National Bank composite house price index, rose 0.3 per cent last month from December and gained 8.7 per cent in January from a year ago.

That’s up from a 0.2 per cent monthly gain in December, but down from the 9.1 per cent yearly rise that month.

The index measures changes in resales of single-family homes, and each month’s reading is a rolling three-month average to smooth out monthly fluctuations in price.

While the national gauge rose for the second time since a monthly decline in November, only four of the 11 major cities measured on the index saw price increases last month.

Toronto was one of them — rising 0.2 per cent from December — marking its first gain since the middle of last year.

But National Bank economist Marc Pinsonneault warned that it was premature to conclude that home prices in Canada’s largest city have “turned the corner.”

“This firming of home prices in Toronto might reflect a rush to buy with pre-approved mortgages granted before more stringent rules on qualification for uninsured mortgages were applied starting Jan. 1,” he said.

Further increases to mortgage rates could still impact prices in the city, he added.

Toronto’s housing market pulled back last year after Ontario implemented a series of measures such as restricting foreign buyers to cool the once red-hot market.

Last week, data from the Toronto Real Estate Board showed the average selling price of a detached home in Toronto fell almost four per cent in January from a year ago.

The National Bank index reading of an 8.4 per cent gain in Toronto from a year ago is still below the national average.

source: toronto sees first gain

Toronto real estate market off to a good start in 2018 2018-02-15T14:42:23+00:00
8 02, 2018

Toronto home average price forecast to climb in 2018

2018-02-08T13:06:50+00:00

The Toronto Real Estate Board expects fewer home sales this year compared with 2017, but the average selling price to climb.

The board is forecasting total sales between 85,000 and 95,000 in 2018.

It says the midpoint of the range suggests total annual sales slightly lower than 2017 when there were 92,394 sales reported through the board’s MLS system.

Meanwhile, the forecast range for the average selling price in 2018 is between $800,000 and $850,000 with the midpoint suggesting a slight increase in the average selling price this year compared with $822,681 in 2017.

Detached Home Prices January 2017 vs 2018

Toronto home sales started last year on a hot streak, but slowed after the Ontario government introduced several measures to cool the market.

The real estate board says it expects year-over-year declines in transactions will be more pronounced in the first four months of this year, but sales are expected to be up compared with last year through the late spring and summer.

Detached Home Price Change January 2017 vs 2018

Source: average prices forecast to climb
All stats from Toronto Real Estate Board.

Toronto home average price forecast to climb in 2018 2018-02-08T13:06:50+00:00
3 02, 2018

JUST SOLD! 222 Old Weston Road

2018-02-02T15:07:11+00:00

Congratulations to our awesome clients on their first venture into Toronto real estate. We hope you’ll be happy in your new home for years to come.

222 Old Weston Road Toronto Real Estate

This home search was quite the hunt, our clients were determined to find a freehold property within Toronto and within their budget. They stayed true to their desire and we’re happy to say that we found exactly what they were looking for.

222 Old Weston Road is a great condo alternative with two bedrooms and two washrooms. The backyard deck will be calling to our clients to relax throughout the evenings.

JUST SOLD! 222 Old Weston Road 2018-02-02T15:07:11+00:00
24 01, 2018

Thurston Olsen Toronto Real Estate Update

2018-01-24T12:34:13+00:00

We’re all curious to know about real estate in our own neighbourhoods. Keeping up to date helps you to better understand the real estate market and have an idea of what your home might be worth. This is where we come in, here is your Toronto update for 2017!

Do you have a question about a specific sale in your neighbourhood, or on your street? Reach out and we’ll give you all of the info, info@thurstonolsen.com

Are you curious to know what your home is worth? Give us call at 416.465.7850 and we will be happy to provide you with an opinion of value.

Toronto Real Estate Update

That’s a wrap for 2017!
Stay tuned for quarterly updates throughout 2018.

Follow us: thurstonolsen

Thurston Olsen Toronto Real Estate Update 2018-01-24T12:34:13+00:00
22 01, 2018

What to expect from rising interest rates

2018-01-22T12:15:05+00:00

Is now the time to lock in your mortgage? Here’s what to look for when it comes to debt and saving.

Detached home living room

Consumers who locked in their mortgage last fall or summer might be feeling smug following Wednesday’s increase in flexible loan rates.

But for first-time buyers and home owners looking to renew there is nowhere to hide from a rising interest rate environment.

The big Canadian banks increased their fixed-rate mortgages to 5.14 per cent from 4.99 per cent last week, even before the Bank of Canada announced the quarter per cent increase that triggered the rise in variable loan costs.

“The fact is, (people) have been incredibly lucky in terms of mortgage rates for the last eight years,” said Laurence Booth, professor of finance at the University of Toronto’s Rotman School of Management.

He reminds his students of his own experience, which included a variable rate mortgage of 24 per cent in 1981, during a period of volatile interest rates.

“We’re definitely in an increasing interest rate environment. We’ve seen that with the three Bank of Canada hikes over the last year,” he said.

More increases to the benchmark rate, which stands at 1.25 per cent, are expected this year.

But Booth said the central bank is moving carefully because, while Canadians seldom default on their mortgages, it doesn’t want to drag down the overall economy by reducing Canadians’ spending on groceries and other consumer goods to meet those home payments.

“There’s no intelligent way to beat the system,” says mortgage broker James Laird, a co-founder of the Ratehub.ca.

It put the cost of the quarter of a percentage point increase in the bank rate this week at an additional $52 a month or $624 per year for someone holding a $400,000, 5-year variable rate loan amortized over 25 years.

“Variable rates are now up by a quarter of a point. Fixed rates have all adjusted to the current market,” he said.

That brings consumers back to the “classic variable-versus-fixed-rate decision.” In other words: Is now the time to lock in?

Laird said he believes that variable rate loans tend to be cheaper in the long run. But he acknowledged the increased risk makes that a highly individual decision.

“It’s only appropriate for a household to take a variable rate if they have a lot of wiggle room in their finances. If the rate moves 3/4 of a point and beyond — let’s say something unforeseen happens and rates rise quicker than anyone is expecting — they should be able to handle that risk,” said Laird, president of Canwise Financial.

“Any household that is tighter for cash — typically the first-time home buyer — we try to influence them towards a fixed rate. Yes, it’s going to cost a little bit more off the bat but we do know they can afford it and that is locked in, usually for five years,” he said.

New stress testing launched by the Office of the Superintendent of Financial Institutions means most borrowers already have to qualify at higher than the posted rates — either the 5-year benchmark rate or 2 per cent above the mortgage rate they qualify for, whichever is higher.

But Laird says consumers need to remember that interest rates historically have far exceeded today’s relatively low numbers — even if you add another 2 per cent.

The good news is that savers should start to see more for their money, he said, citing a 0.35 per cent increase in Tangerine’s 5-year GIC rate.

“It would be nice if savers were treated to this rising interest rate environment instead of borrowers simply paying,” said Laird. “It’s difficult to support your retirement at 2 per cent GIC rates.”

He doesn’t expect the central rate to rise again in March, but he thinks there will be at least one more increase this year based on the language in Wednesday’s announcement.

The bank acknowledged that the uncertainty around the North American Free Trade Agreement clouds an otherwise robust economy, including the high employment and economic factors such as high employment and near-target inflation that prompted this week’s increase.

The Bank of Canada’s overnight rate is the basis for flexible mortgages. But fixed-rate loans are based on the five-year government bond rate, said Booth.

source: what to expect

What to expect from rising interest rates 2018-01-22T12:15:05+00:00