Real Estate Tour August 30th

Bloor West Village


Monday morning started off again in the Bloor West Village neighbourhood of West Toronto. I met with a client in High park and viewed a nice townhome. Also, over the weekend, I visited the neighbourhoods of Mimico, Longbranch, Humber bay and New Toronto all in South Etobicoke.
To see all active real estate in South Etobicoke click here.

CLIFF LUMSDON PARK- SOUTH LAKESHORE

Today I took a mid day break at Cliff Lumsdon Park in the South Lakeshore area to plan my week and take in the beautiful views of the city. This park is truly a great place to relax and gather your thoughts.

You won't find playgrounds, swings or sandboxes, just pure green open space to walk, think and listen to your ipod. If your in the New Toronto, Lakeshore Village area why not make your way down to Cliff Lumsdon Park for a mid day stroll.

Youtube Video:http://www.derekcardona.com/4a_custpage_76046.html

Website: http://www.newtorontohistorical.com/Cliff%20Lumsdon%20Park.htm

Summer Market Commentary 2010

As consumers become bombarded with news headlines, with stories of an economic downturn in the market. We are faced to provide clarity to our clients and consumers in the market place. As the usual slower summer months start to unfold, the constant fear of interest rate hikes and the HST with be a constant struggle for people to over come.

People need to be aware of consumer confidence in the market place and how this fundamental plays a curcial role in our market. I believe the over night lending rate which affects the variable mortgage rate is going to stay put given the current forcast on inflation in 2010 and 2011. This should provide confidence in the market going forward as home affordability remains strong.

Great Townhouses In South Etobicoke

Derek showcases a great townhome subdivision in the heart of South Etobicoke, at Evans and QEW. If you're seeking the action of a city but the living space of a suburb, then consider taking a look at these gorgeous townhomes ... You can expect to find beautiful brick and stone exteriors, lush landscaping, stunning open concept living, upgraded kitchens and baths, grand master suites with juilet balconies and much much more. Check out the video for more details:

August Mid-Month Resale Housing Figures

Greater Toronto REALTORS® reported 2,732 sales
through the Multiple Listing Service® (MLS®) during the first two weeks of
August 2010.
This represented a 29 per cent decrease compared to the 3,832 sales
recorded during the same period in 2009. New listings, at 4,770 were down
eight per cent compared to the first two weeks of August 2009.
“Throughout the better part of the last year, the number of monthly sales
was well above the expected long-term trend. Accordingly, it makes sense
that the number of transactions has dipped over the past few months in
comparison to last year’s record results,” said Toronto Real Estate Board
President Bill Johnston.
The average price for August mid-month transactions was $412,934 – up
eight per cent compared to the average of $383,796 recorded during the
first 14 days of August 2009.
“We have seen a sufficient number of buyers relative to sellers over the
summer months to support continued year-over-year price growth in the
GTA,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Sherway Framer's Market

Like any other Friday morning, today I made my usual trek down to the Sherway Farmer's Market. As one of the best market's in South Etobicoke you should mark your calendars and plan to visit the Sherway Farmers' Market as part of your Friday morning outing. Operating from 8am until 2pm (rain or shine) every Friday from May 7th through October 29th. The selection of items varies as the local crops become available - starting with greenhouse veggies and bedding plants - as well as breads, meats, eggs and more, available throughout the season.
Website: http://www.sherwaymarket.com/

Rennie Park- Swansea

Ah, beautiful day in the park. If you live in the Swansea neighbourhood you most likely know about Rennie Park. If you don't, allow me to introduce you. Rennie Park is a desceptive little park. Nestled amongst the beautiful homes off Morningside and Runnymede in the Swansea area. Your greeted by the usual family-freindly park affair, a play ground, kiddie pool, tennis courts and plently of open grassy areas to play in. In the winter months enjoy Rennie Rink and a great hill near Swansea school for some great tobogganing in West Toronto. So come down, walk and explore your community.

Villa Restaurant- Bloor West

Are you in Bloor West and craving some great pizza or pasta? Why not stop into Villa Restaurant for some gourmet Pizza. The menu is filled with great choices that should satisfiy your taste buds. Villa is the perfect spot for lunch, dinner or weekend brunch with family or friends.
Villa specializes in gourmet pizzas, pepared in wood burning ovens and great pastas, main courses and salads, all complimented by a fabulous wine list selected to perfectly enchance the menu.

Villa is chic yet casual, family appropriate yet contemporary in design. Light coloured floors and creamy walls contrast beautifully with modern ultra suede tan banquets and dark expresso wood furniture.


Website: http://www.villarestaurant.ca/main2.html
Location: 2277 Bloor Street West

7th Annual Lakeshore Mardi Gras

The 7th Annual Lakeshore Mardi Gras celebration takes place this weekend in Colonel Samuel Smith Park. Entertained by the local community, this party is fit for singles, couples and families who enjoy the refreshing open-air ambience of a natural park setting in the heart of the beautiful Lakeshore community. Taking place over a three-day period from August 13th to 15th, the community-based event draws its inspiration from the world famous Mardi Gras held annually in New Orleans.

Last year the event was a huge success and this year promises to be bigger and better with a few surprises.

Participants will be able to sample a wide variety of cuisines, while enjoying Dixie, Jazz and Blues bands in one of the largest most beautiful parks in Toronto, Colonel Samuel Smith Park, on the historic Lakeshore Grounds.

Live music will play on the main stage and buskers will perform dazzling displays of entertainment.

There will also be a kid's zone, interactive games, and food vendors, a midway, and market vendors offering arts and crafts. Come on down and explore our commuinty.

Website: http://www.lakeshoremardigras.ca

Toronto Area REALTORS® Report Monthly Resale Housing Figures for July 2010

Sales and New Listings Down, Average Price up in JulyAugust 5, 2010

Greater Toronto REALTORS® reported 6,564 sales in July – a 34 per cent dip from the record 9,967 sales reported in July 2009. New listings, at 10,825, dropped to the lowest level for the month of July since 2002."The level of July sales remained below the expected long-term trend. The market has become more balanced following record monthly sales through most of the winter and early spring," said Toronto Real Estate Board (TREB) President Bill Johnston.Total sales through the first seven months of 2010 were up 12 per cent compared to the same period in 2009.Notwithstanding the fact that price trends vary at the neighbourhood level in GTA, the average price for July transactions was $420,482, representing a six per cent increase over July 2009. Over the first seven months of 2010, the average selling price was up 12 per cent annually to $432,253."Market conditions promoting growth in the average selling price have remained in place. While July sales were down compared to last year, the number of new listings in the marketplace also fell. This means there was enough competition between buyers to exert upward pressure on price," said Jason Mercer, TREB's Senior Manager of Market Analysis.Median PriceIn July, the median price was $361,000, from the $339,900 recorded during July of 2009.

INTEREST RATES EXPECTED TO HOLD THROUGH JULY: EXPERTS

A panel of financial experts believes that variable mortgage rates will stay level while fixed mortgage rates could fluctuate slightly through july.

RateSupermarket.ca an independent mortgage rate comparison website, says in the Mortgage Rate Outlook Panel for July 2010 that global economic uncertainty may dampen consumer confidence and cause Canadians additional stress during the summer months, but is also means the Bank of Canada likely would not increase mortgage rates on July 20.
(At press time, on July 20, the Bank of Canada announced it was to raise it's benchmark poilcy rate by 25 basis points to .75 per cent)

FIXED MORTGAGE RATES: UNCHANGED
The panel believes fixed mortgage rates could fluctuate by +/-.10 per cent in July but will effectively stay where they are for the time being.
The Bank of Canada's next Monetary Policy Report is due on July 22, and this should give a better indication of the level of uncertainly in the market. A strong demand for residential mortgages by lenders is also stated as a key driver for keeping fixed rates level.

VARIABLE MORTGAGE RATES: UNCHANGED
The panels also expects the Bank of Canada to sit right at the next interest rate meeting at the end of July. Given an expected dip in Canadian consumer spending, widespread unemployment in the US and Europe, global fears of deflation and debt levels that are threatening to put whole countries out of business, there's just too much going on to justify a rate increae.
In this environment, panel members say, the Bank of Canada would be unlikely to increase interest rates in July, so variable mortgage rates should remain unchanged.

Source: www.hometrader.ca

Toronto Real Estate Board Housing Market Charts For July 2010

Treb housing market_charts_july_2010

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