68 Broadview Avenue Loft 222 Sold in 3 days over asking!
Congratulations to our awesome client on the sale of their Riverside loft!
Congratulations to our awesome client on the sale of their Riverside loft!
Once home to a Rexall Pharmacy warehouse, in 2006 The Sobara Group completed repurposing this iconic building into the most coveted loft conversion in Riverside. From the brick exterior with classic black trimmed warehouse windows, to the cage style elevators, to the historic décor in the front lobby, everything about 68 Broadview pays tribute to its history.
Loft 222 is absolutely incredible. Upon entry you are immediately impressed by the expansive open concept living and its spacious, airy feel. With over 1000 square feet of interior living space and a walk out balcony featuring double sliding doors, the outdoor space truly acts as an extension of the unit. The generous square footage and customizable floor plan allows for numerous potential options to meet many different needs.
True to the definition of a hard loft, this home features polished concrete floors, exposed ducts, and towering 10’5” ceilings. The floor to ceiling windows offer impressive westward city skyline and courtyard views and allow for plenty of natural sunlight to flood this residence throughout the day.
The building offers security/concierge, a beautiful roof level amenities room, and a spacious common rooftop deck with unbelievable city views. Located just minutes from the DVP, Gardiner Expressway, and 24 hour TTC, this loft conversion is perfect for any commuter. Move in and enjoy all of the shops, restaurants, and bars that trendy Riverside and Leslieville have to offer!
List price: $929,900
MLS #: E4597058
Congratulations to our clients on the quick sale of their beautiful home!
Situated on a corner lot in a lovely community, this detached home has so much to offer! Upon arrival, you are immediately impressed by the wonderful curb appeal including the large front porch and the private drive that can fit two cars.
The main floor is bright and spacious with upgraded light fixtures and California Shutters throughout. The living room features hardwood floors, a gas fireplace, plenty of room for seating and large windows. The kitchen has a fantastic layout with upgraded stainless steel appliances, modern cabinetry and a convenient breakfast bar. It overlooks the dining area which includes a walkout to the backyard – ideal for summer barbeques! This level also has a powder room as well as direct access to the built-in garage.
The impressive staircase leads up to the second level which features three large bedrooms all with good-sized closets and windows with the same California Shutters as the main level. The master bedroom is a wonderful space with a walk-in closet and a beautiful master ensuite featuring a separate shower and a soaker tub. This level includes a second full washroom as well!
The lower level is perfect for storage and with its impressive ceiling height, it could easily be finished to accommodate a media room if desired.
The backyard is fully fenced in and includes a patio area with a gas barbeque line and tons of space for kids to play!
With so many upgrades in a home that’s only 7 years old, you can move in and enjoy with ease!
List price: $724,900
MLS #: E4581097
Stunning in every way, this corner suite with a southeast exposure features impressive large windows and the day long ambiance of natural light in every room. Not often found in condo living, the 1420 square feet of living space seems even larger given its exceptional floor plan with 3 bedrooms and 3 washrooms.
The spacious foyer of 1100 Kingston Road, Suite 216 is delightful for welcoming guests and includes a large closet to tuck away every coat, shoe and accessory. There is also an oversize laundry/storage room and a separate locker so that everything has a spot when not in use!
With engineered natural hardwood floors, the open concept main living space is warm and bright. The impressive kitchen features abundant white matte parma shaker cabinets, an eight-foot-long centre island with tons of space for prep and room to enjoy casual meals too! There is a separate pantry, pull out pot drawers, stainless steel appliances, an upgraded gas stove and a classic white subway tile backsplash. Finished with style and just right for the gourmet chef!
The dining area is spacious with enough room to easily seat six people. The adjacent living room has lots of space so everyone can stretch out while watching a movie and it’s a great spot for entertaining. There’s even an office nook which is a perfect for a home office or a spot for the kids to do homework.
All three of the bedrooms are generous in size with large windows and closets. The master bedroom is truly remarkable with enough space for a king size bed and a sitting area. It also includes a separate walk-in closet and spa-like master ensuite.
The south facing balcony is a great spot to finish a good read and is outfitted with a gas line for barbequing in any season!
Kingston & Co is a recently built condo in the heart of Kingston Road Village and just minutes from Queen Street East and the beach! It overlooks Blantyre Park and has a roof top terrace with panoramic lake and city views and a large barbeque area. On this level there is also a private indoor dining room that can be booked for entertaining.
On the second level of 1100 Kingston Road, very conveniently located is a guest suite, a well-equipped gym, a yoga studio and large lounge with a pool table. So incredible to have all of this at your fingertips!
Perfect for a family looking for carefree living or for anyone looking to “right size” with space to accommodate guests. Suite 216 checks all of the boxes, move in and enjoy this gorgeous residence!
List price: $1,039,000
MLS #: E4588608
Our buyer clients will soon be calling 241 Strathmore Boulevard home!
On a fabulous tree-lined street just off Danforth Avenue you’ll find this semi-detached home with a solid 2 car garage accessed via lane way. The home features 3 bedrooms, 2 full washrooms, and an over-sized master bedroom. The private backyard is shaded by a custom pergola and has access to the garage.
Danforth Village and its neighbourhood shops, parks and schools are all nearby, along with Greenwood Subway Station one minute away.
Congratulations to our wonderful clients, you picked a great home!
The price of detached houses in Toronto surpassed the $1 million mark for the first time in 2015. Since then prices have hovered at a consistent high and according to a new report by RE/MAX, they’re again on the rise. RE/MAX examined the Toronto Real Estate Board‘s 65 districts and found that detached housing values rose in 57 per cent of neighbourhoods in the 416. While this is welcome news for those who already own a piece of this lucrative property pie, those trying to buy houses in Toronto find themselves wondering if and when affordability will return to this hot market.
Despite the affordability woes, detached home sales in the GTA were way up in the first half of the year. Year-to-date transactions are up 17 per cent over 2018 figures – 20,067 versus 17,202 – and double-digit sales increases happened in over 70 per cent of TREB districts, which includes areas in the 416 and 905.
The market correction – especially over the past 18 months – has been the major catalyst for the increase in detached housing sales. It’s all about price,” says Christopher Alexander, Executive Vice President and Regional Director at RE/MAX of Ontario-Atlantic Canada. “The overall average price for detached housing in the GTA is still down marginally (-1.2 per cent), compared to year-ago levels. Year-to-date average price (January to June) was $1,008,177 in 2019 versus $1,020,136 in 2018.
While balanced and seller’s market conditions are evident in the 416, an estimated 45 per cent of Toronto neighbourhoods were in clear buyer’s market territory in June. The tightest area of the city is the East End, where eight out of 11 districts are in balanced/seller’s territory.
If you’re in the market to buy and you have your heart set on the 416, but don’t have a bottomless bank account, here are 12 areas where you can still buy detached houses in Toronto for less than $1 million.
We helped our client successfully rent out his shiny new condo at 875 Queen Street East in Leslieville.
The south east facing corner suite has one bedroom, plus a den. Ample natural light floods the open living room and sleek designer kitchen with lofty concrete ceilings. Steps to parks, restaurants, shops, TTC, easy access to the highways, and all that Leslieville has to offer – plus a parking space!
174 Campbell Avenue in the Junction Triangle was recently scooped up by our buyer clients.
The 2 storey brick semi was beautifully renovated, has three bedrooms, two washrooms, a finished basement, and a 2 car garage! The main floor opens into a modern white kitchen with a timeless, stylish backsplash, loads of cupboards and plenty of counter space. They can walk out from the kitchen to spend sunny evenings in the west facing backyard. Congratulations to our clients, we’re excited for you to make this house your home.
For the first time since the government implemented new stress test rules on Canadian home loans, the bar has been lowered — meaning a would-be homebuyer could be approved for a bigger mortgage today than they would have yesterday.
The so-called stress test, formally in place since January 2018, is a financial bar that any Canadian looking to take out a mortgage must pass to be approved for one. Regardless of what deals they may have been offered by a lender in the real world, for regulators to sign off on the loan, the borrower’s finances must be tested as though their mortgage rate is at a higher level. The idea is to save borrowers from biting off more debt than they can chew and ensure they have some financial wiggle room if rates rise.
The stress-test level is set at either two percentage points above the actual mortgage rate or whatever the average five-year posted rate is at Canada’s big banks, as calculated by the Bank of Canada — whichever is higher.
That bank rate hasn’t changed since May 2018, when it rose to 5.34 per cent. But this week, it inched down to 5.19 per cent, the first time it has decreased in almost three years.
The impact of the slight lowering of that bar is to let people qualify for a bigger mortgage than they could before, even if everything else in their finances has stayed the same. It has the effect of giving them slightly more purchasing power, allowing them to fish in a slightly more expensive pond full of homes.
It’s not a huge move, by any stretch.
Rate comparison website Ratehub.ca calculates the typical borrower can now afford about 1.4 per cent more home than they could previously. Assuming a borrower had a down payment of at least 20 per cent, no other debts to speak of, and earned $100,000 a year, under the previous test level, they would have qualified for a home valued at $589,000. Today that same family can buy a house worth $597,000.
It doesn’t make their mortgage any easier to pay off. It just allows them to theoretically buy a slightly more expensive home than they would have previously been allowed to.
Samantha Brookes, CEO of broker Mortgages of Canada, says overall, the stress test has put a chill on the market, but she doubts that this week’s move will make a major dent in its impact.
“It allows someone purchasing to buy a little bit more but it’s not that significant,” she said. “Consumers are in this wait-and-see pattern — it’s still difficult to get into the market because that stress test is there.”
And the tiny amount of extra wiggle room that this week’s move may make the dollars and cents add up a little better on paper, but the real impact may be all in our heads, says Nick Kyprianou, president of RiverRock Mortgage Investment Corporation, a Toronto-based alternative mortgage lender.
Kyprianou is somewhat of a rarity in that he makes his money in real estate, but isn’t among those who blame the implementation of the stress test in 2018 for taking away the punch bowl and ending a real estate party in full swing.
He may have a bias in that the stress test made his business busier, as people shut out of traditional lenders by the new rules flocked to alternative lenders. “But it was a reasonable thing to do,” he says. “As a homeowner and a citizen it wasn’t the wrong decision — things were irrational.”
Kyprianou says the stress testing level moving almost imperceptibly lower is likely to help the market just by instilling confidence, because it’s not just the theoretical testing level that’s lower — actual mortgage rates are falling too.
Fixed mortgage rates are priced on what’s happening in the bond market, which has been signalling for months that it expects cheaper lending rates to come.
The U.S. central bank could cut its benchmark interest rate as soon as the end of this month, and while Canada is expected to stand pat for a while, the Bank of Canada is not immune to the global forces that may push rates down even lower.
As long as house prices don’t crater, rates in the real world moving lower will have a much bigger impact than this week’s tiny wobble in the stress test, Kyprianou says.
“This is a psychological game. If people feel confident they’ll get back in the market.”