Will this be the Sexiest Development in Etobicoke?


The Hive: Lofts on the Queensway




Symmetery Developments is a boutique real estate development company who develops unique and innovative real estate in the Greater Toronto Area. They are planning a 6 storey condo project on the Queensway in Etobicoke close to the IQ Condos.



The Hive Lofts will consist of 20 units ranging from 523sqft to 1,075sqft. This project will be the first of its kind in the South Etobicoke area along the stretch of Queensway.


The designs of the interior are truly off the charts jaw dropping. You will notice floor to ceiling windows, exposed concrete ceilings, pre-finished wide plank hardwood floors, glass back splash and much much more.


The Hive Lofts looks to continue Symmetries' reputation for developing unique and innovative designs like Linea at Bayview and Sheppard.

I love the design, and welcome it as an addition to Etobicoke's core. We need more developments like this.

What do you think?






 


Humber College 'driving force' behind South Etobicoke revitalization


Humber has invested tens of millions of dollars to purchase or lease and "repurpose" the historic lives of some Lakeshore buildings. How will these projects change the face of real estate in Etobcioke!



FASHIONING A FUTURE

"Fashion victims. People who blindly and stupidly follow a brand without any discernment and without any analysis. As long as it's the latest rage, they buy it without thinking about adopting it for themselves." - Jean-Paul Gauthier.

So begins a Monday morning fashion management class in the new Humber Fashion Institute.

Since November, 175 students take classes in the brightly lit, street-level classroom at the northwest corner of Kipling Avenue and Lake Shore Boulevard West.

Humber converted the two-storey building from its former lives as many different bars and more recently, a swingers club.

Originally, it was the Almont Hotel circa 1890.

"It is the business side of fashion. They're not going to design the product, but they're going to sell it," explained Norma Ouellette, Humber College professor and program coordinator of fashion degrees.

"Coming from the industry, something we always encountered was getting business grads with no fashion background or we'd get fashion grads with no business background."

Humber gives students a foundation in both in its Bachelor of Applied Business - Fashion Management degree.

"It's one of the only degrees built this way," Ouellette said. "Ryerson offers fashion design and fashion journalism, but they're not four years with intensive business study. Our program is fairly unique in the province."

Humber also offers a two-year fashion arts diploma.

Third-year student Mary Amanda Russell won a contest to design the institute's interior display case. A black-and-white photo of Yonge Street in 1950 is the backdrop to a display of fashion memorabilia from the era.

Much of that area of the building is painted in a vibrant raspberry or one of the hottest interior colours of the moment - grey.

"Just walking in here every day, that raspberry colour gives you a lively feeling," said student Jessica Ferrera, who hopes to combine her love of travel with a career as a fashion buyer.

"It's really exciting. We love our new building," said Julia Heming, who wants to become a buyer or go into public relations in the fashion industry.

Read the whole article

Canadian Real Estate Market Update: March 2011

“Education mitigates risk” – Warren Buffett

The foundation of successful real estate investing is education. Without knowing what is happening in your market, it’s tough to make a good investment descision to move forward.

Monthly Real Estate Houseing Figures

Locally the real estate market in Etobicoke is very healthy, in the first two weeks of March Realtors have reported 4,138 sales, this is a 5% decrease compared to the first two weeks in March 2010. New listings have also dipped down 15% compared to the same period in 2010.

These decreases have not affected the Etobicoke real estate market at all. As jobs and incomes keep on a growing, households still have the confidence in thier ability to pay for a home.

Due to very tight inventory in Etobicoke, . Buyers have had to deal with upward pressure on the average selling price. Jason Mercer TREB's Senior Manager of Market Analysis expects growth to be in the 3% to 5% range for 2011.

Read the whole article



Attracting business and residents to Lakeshore in South Etobicoke

Mark Grimes councillour for ward 6 in South Lakeshore just wrote a great article on the planned change for the Lakeshore area. He discusses Mimico 20/20: A Perfect Vision for Our Community and how the community needs to particpate with the change.

Attracting business, residents key to Lakeshore revival

Special to The Etobicoke Guardian

If you live in Ward 6, Etobicoke-Lakeshore, you have no doubt noticed the amazing changes taking place over the last few years.
 
Few wards can boast of a beautiful waterfront as part of their community, but this asset has also posed some of our biggest challenges. For years, a lack of clear vision brought conflicting projects and reduced public access to the waterfront. Over the last 8 years, I have worked with residents, businesses and city staff to revitalize the Lakeshore as a vibrant waterfront community.

One of the first, and most important, steps in this revitalization was to lay the foundation for new growth and investment. I have worked to achieve this through the city's planning process, with the New Toronto Employment District Improvement Plan, the Long Branch Avenue Study, and updates to the Humber Bay Shores design guidelines and precinct plan.

We are also currently beginning phase two of my personal initiative, Mimico 20/20: A Perfect Vision for Our Community. This action plan will implement the local community's vision for the revitalization of their community.

A key component in all of these plans is an increase in business investment. Shortly after I was elected I organized a tour of our area for over 250 successful companies.

Since then I have continually showcased our neighbourhood to businesses, politicians, media and other stakeholders. The result has been over $4 billion in improvements by large corporations, developers, the city and the province. Large scale commercial businesses as well as the Toronto Police College and MasterCard Centre for Hockey Excellence have built state-of-the-art facilities on our brownfields, previously vacant and contaminated sites, and brought employment and prosperity back to our area. Now, Ward 6 is the city's leader in brownfield remediation.

Read the rest of the article

Inside Toronto Reports Young families Buying Real Estate in South Etobicoke

Great little article featured in Insidetoronto.com talking about how young families are buying real estate in the South Etobicoke area. It's proximity to the lake, trails and downtown Toronto are the keys reasons they love this area so much.


AT ISSUE: Lakeshore's new generation moves in.

New to the Lakeshore neighborhood is Jimmie Lee and family, wife Melissa, children six-month old Rianne and three-year old Ava. Little Ava Lee is busy making snake soup from her plastic coloured balls.

It's heady Saturday afternoon fun for the talkative three-year-old.

Ava and her then-unborn, now six-month-old baby sister, Rianne, moved with their parents Melissa, 31 and Jimmie, 36, into their New Toronto red brick two-storey home eight months ago.

Their family poised to grow last summer, the Lees started house-hunting in lakefront Etobicoke. It was familiar territory. Years earlier, the young couple had hunted real estate on the very same streets. They loved its proximity to the lake, nature trails and downtown Toronto where they both work.

At the time, they'd happened to find their first home in a Danforth-Woodbine avenues' neighbourhood.

But they never forgot the tidy homes on large lots on quiet, leafy residential streets less than a 10-minute walk to the lake in Etobicoke.

"We knew this is exactly where we wanted to be," Jimmie says of their Eleventh Street neighbourhood. "We knew we wanted to live on a numbered street south of the Lakeshore...It was very, very important to us that our girls experience the wonder of living so close to the lake."

Their well-maintained New Toronto home had one owner for the past 60 years. It's the story of many Lakeshore-area families. They live in their homes for decades, often for generations.

"We've only been here six months and we know we want to be here for 20 years," Jimmie says. "We recognize the area's potential."

Future transformation of The Lakeshore excites the young couple.

Their thoughts instinctively turn to their two young daughters and the life they envision living as a young family in the neighbourhood.

Once a week, a High Park friend of Melissa's visits with her baby. The moms tote their tots in strollers to Sweet Olenka's chocolate and ice cream shop for a cup of locally renowned Birds and Beans organic coffee.

It's one of few stroller-friendly coffee shops in the area, Melissa reports.
She is keen to see a Starbucks or Second Cup open in the neighbourhood.

"I think there's a lot of potential for the area. I research a lot online for groups and things to do," she says.

Most parks in the area are large, but their play structures small and old, the couple reports.

While lakefront Rotary Park and Rotary Pool is at the foot of their street, it doesn't boast the play groups and parent-supplied sandbox toys of the couple's former east-end neighbourhood park.

"It doesn't even have a park bench, which I found out when I was pregnant last summer and needed to sit down," she says. "It's sad to see the park not being used. The splash pad operated once last year, then it was closed all summer."

Melissa and Ava had a similarly discouraging experience when they visited New Toronto Public Library up the street.

There is no children's centre in the library. Twice, its baby program was cancelled although she recently enrolled Rianne, Melissa reports.

"When we went up to the library, Ava asked: 'Where are all the toys? I want to go home.'"

"Maybe they hide," Ava tells her Mom.

The Lees laud City of Toronto's programs as "excellent value for the cost." They'd just like to see more children and family-focused programs in the area.

The couple regularly heads to Lake Shore Boulevard West for meat from The Village Butcher and dinner at Lee's Thai Spring Roll. Recently, Melissa ordered loot bags online for Ava's third birthday party from The Loot Lady just up the street.

They envision grocers, florists, cheerful boutique restaurants, furnishing stores, family service retailers and athletic stores along the stretch of Lake Shore Boulevard West from Kipling Avenue to Royal York Road.

"Think of Bayview Avenue between Moore and Eglinton; Yonge Street from Eglinton to Lawrence or even closer to home, Bloor Street West between Islington and Royal York as a couple of goals to aspire to," Jimmie says.

Rianne down for a nap, Jimmie readies Ava for her first Leafs' game that night.

"I'm going to the hockey game!" Ava gushes, running upstairs to her bedroom to fetch her tiny grey T-shirt emblazoned with a bright pink maple leaf and the words Toronto Maple Leafs.

"What do we say at the game?" Jimmie asks his toddler.

"Go, Leafs, go!" Ava squeals.





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WANT TO SELL? FOCUS ON THE BIG 4...

Spring is a few weeks away and if you're looking to sell, which in this market you should be, there are some important areas of your home that need to be addressed. Buyers carefully look at these key deciding factors when searching for a home.

So here are the big four items that when in need of repair and when replaced could make the difference between who is sold first and who is left standing:

1) Furnace
2) Air Conditioner
3) Water Heater
4) Roof

Be proactive as buyers undoubtably will be searching for all these four areas to be replaced and in good repair.  The best time to tackle this is when preparing your home for sale. It usually costs more when the buyer's home inspector finds problems than it would cost if replaced before you list your home on the market. These big four items will set you apart from your competition along with the Realtor's marketing strategy.

Until next time, happy house hunting! 

FREE SERVICE FOR BUYERS!! WELL USUALLY...

I wanted to talk about what First Time Home Buyers can expect to pay their Realtor for commission. This is a topic that comes up very often and most First Time Home Buyers think that when they get started in the home buying process that they need to pay someone, but that's not necessarily the case, well usually...

The majority of the time, and I mean 99.9% of the time, sellers pay both ends of the transaction. By both ends I'm referring to (a) the listing brokerage who is selling the property and (b) the buyer brokerage who is bringing the buyer. From the proceeds of the sale the sellers will compensate both brokerages for their service.

So essentially what this means is that the buyer is enlisting the service of a Professional for months, sometimes years at a time for absolutely FREE, yes you heard right FREE! FREE! FREE!  Now where in the world does a service like this exist!

Now a word of caution ... when you finally find a home that you would like to purchase your Realtor will have you sign what is called a (BRA), which stands for Buyer Representation Agreement. This agreement is used to establish a representation or agency relationship so that your Realtor has an obligation to you as the client.  In this agreement it states that if you the buyer purchase a home within a certain time frame and within a geographical location, the Realtor is to be compensated for their service. Here is a word of caution ... if the agreement states that the Realtor is to be compensated 2.5% of the purchase price (which in the GTA is the norm), and the seller only pays a 2.0% commission, you as the buyer may be on the hook to come up with the additional 0.5%.
 
So please make sure that you read everything you sign!  Ask many questions and keep the lines of communication open and upfront.

Until next time, happy house hunting.

Good Time To Buy?

This is a question that is asked by everyone I meet, wherever I go. The current market environment has everyone guessing whether now is the right time to buy...

I've noticed an increase of pressure for home buyers in the last year or so telling them that now is a good time to buy real estate. Is this message universal for everyone?

Here are some of the frustrations current buyers face when pressured by pushy Realtors: Do you know my situation? Do you know how much money I have in the bank? Do you know how long I plan to be in this house? What if I can’t find the right house in the right neighborhood for what I feel is the right price? What if I think I may lose my job, have no savings, or plan to move in 6 months anyway? Is it still a good time to buy?

Here are my thoughts ... First look at your individual situation and focus on the key drivers: affordability, location, mortgage rates, housing prices and market conditions.  Secondly, entrust a Realtor that can easily breakdown the complexity involved in Real Estate.  Thirdly, if you feel comfortable with your financial situation and find a house that you love and that you can afford, then go for it!

I’m obviously an advocate of homeownership, or else I wouldn’t do what I do! However real estate is individual, not national. 

If you need a step in the right direction and would like to determine a balanced plan of action, feel free to contact me at 416.602.9909.

Until next time, happy house hunting!

IQ CONDOS- ISLINGTON & QUEENSWAY

I was at the launch of the IQ Condos March 2,2011. The sales center was completely full with no walking room. We were told that today's launch was for the West Building with offers starting on March 3rd. If you looking for a investment in South Etobicoke, these exclusive V.I.P prices are a great start. Prices start at $190,000 and go as high as $381,900. Units range in size from 465sqft to 901sqft. Suite features include 9ft ceilings, engineered hardwood floors, granite countertops, marble countertops with undermount sinks in master ensuite, under cabinet task lighting, four stainless steel appliances. This is a great opportunity to buy phase 1 of a 7 condo project.



IQ Condos- ISLINGTON AND QUEENSWAY

















Video of the Block that The Remington Group purchased to built a 7 condo project.

Etobicoke Real Estate Week in Review- Feb 13-19 2011

February has seen cold weather and lots of snow which hasn't slowed the pace of real estate in Etobicoke. There were 100 new listings of homes and condos that hit the market for the week of Feb 13-19 2011, which is another record for the year. There were only 13 price reductions and a record 52 sales for the week.

As talks of the variable rate creeping up next month, buyers are eating up all the good inventory that comes on the market.
Now is the time to be thinking about speaking to your Realtor about preparing your home for the spring market. This prep time might take a couple of weeks, maybe even months. If your thinking about selling your home for the great spring market ahead, what you do in the next couple weeks will set you apart from your competition. We can help you determine which improvements not to make and show you how to sell your house in less than 24 hours!

New Listings: 100
Price Changes: 13
Home and Condo Sales: 52
Total Sales for the Year: 218

Consider the 'Bank of You' for your first mortgage

Rahim Jiwani started saving for retirement as a teen, when his father got him started with an RRSP and, initially, helped to make regular deposits into it.

Seven years ago, when Mr. Jiwani, now 37, decided it was time to buy a condominium in downtown Hamilton, Ont., he took advantage of the Home Buyer’s Plan to withdraw money from his RRSP to put toward the down payment.

“It was a good thing to do,” says Mr. Jiwani, a financial adviser with Investors Group in Mississauga, Ont. “You have 15 years to pay it back, and you can use money you would have borrowed (from the bank) for the down payment or to buy furniture or to set up a household emergency fund.”

The plan allows an eligible individual to remove up to $25,000 from their RRSP on a tax-free basis to buy or build a first home. A person’s spouse can also withdraw up to $25,000 to put toward the purchase. That combined $50,000 can help couples cobble together a large enough down payment to avoid having to pay Canada Mortgage and Housing Corporation insurance, and is one of the attractions of going this route to finance a first home.

To be eligible for the plan, you must have a written agreement to buy or build a home that will be your primary place of residence, according to the Canada Revenue Agency website. Disabled people and those who support them (such as their parents) can participate in the plan without having to qualify as a first-time buyer.

The money must be fully repaid into your RRSP within 15 years, with the repayment period starting the second year following the year you made the withdrawal. Each year you would pay back at least 1/15th of the total amount you withdrew until it is repaid in full. Accelerated repayments are allowed, so you can replenish your RRSP faster than that if you wish.

The Tax Hit

Beware: If you don’t repay the amount that is due for a given year, the government counts it as part of your income that year and taxes it accordingly.

Some people opt not to repay the money and take the tax hit. Financial planner Sharon Rizzuto, with Burgeonvest Bick Securities Ltd. in Grimsby, Ont., says this sometimes happens in situations where, for example, one partner withdraws money from the RRSP to help finance a home purchase knowing that he or she is going to be a stay-at-home parent with little or no income. So the tax consequences of not repaying it in a given year are going to be minimal.

One other rule is that the money you withdraw must have been paid into your RRSP at least 90 days before you can withdraw it. Mr. Jiwani says this feature makes it an attractive option for anyone who knows they’re going to be buying a home in the near future. “If you’re going to be using that money for a down payment anyway, you can put it in an RRSP and get a tax deduction for the amount,” and then take it out again after 90 days to put toward the down payment. Then you can use the money you get back from the tax refund to pay down your mortgage or to repay the RRSP withdrawal, he says.

Read more: http://www.theglobeandmail.com/globe-investor/personal-finance/rrsp/consider-the-bank-of-you-for-your-first-mortgage/article1916362/print/

GTA home prices rise as sales fall: TREB


GTA home prices rise as sales fall: TREB

While the number of transactions declined compared to last year, home prices in the Greater Toronto Area actually increased slightly.

The Toronto Real Estate Board (TREB) reported 3,084 sales during the first two weeks of February 2011 – a 13 per cent decrease compared to the first two weeks of February 2010.

“We are on pace for a strong sales result in February, but transactions will come in lower than the record result reported last February. Sales remain strong because the GTA resale market contains a diversity of housing types catering to a wide array of home ownership needs,” said TREB president Bill Johnston.

The average price for transactions during the first 14 days of February was $451,257, representing a five per cent increase compared to the first two weeks of February 2010.

“Average selling price growth for existing homes is expected to range between three and five per cent this year. Tighter market conditions over the last four months have pushed price growth to the top end of this range,” said Jason Mercer, TREB’s senior manager of market analysis.

Deepak Bansal, mortgage broker with The Mortgage Practice (Verico) in Mississauga, ON said February is usually one of the slowest months for purchase transactions, but this year has been the busiest one for him in nearly two years.

“From what I am seeing, homes are selling quickly in my area. February has been a busy month for me, primarily with mortgage closings for resale home purchases. With recent news of mortgage interest rates on the rise, I feel people are rushing to purchase while rates are low.”

Sales of detached homes in the GTA fell 17 per cent, while average prices climbed seven per cent. Semi-detached home sales dropped by 11 per cent, with prices going up by six per cent, and condo sales saw a drop of five per cent and a price increase of five per cent. Townhomes sales fell 16 per cent, while the average price was unchanged from a year ago.

Read more:
http://www.mortgagebrokernews.ca/news/gta-home-prices-rise-as-sales-fall-treb/76128

GTA Mid-Month February Resale Housing Market Figures


TORONTO, February 17, 2011 -- Greater Toronto REALTORS® reported 3,084 sales during the first two
weeks of February 2011 – a 13 per cent decrease compared to the first two weeks of February 2010.
"We are on pace for a strong sales result in February, but transactions will come in lower than the record
result reported last February. Sales remain strong because the GTA resale market contains a diversity of
housing types catering to a wide array of home ownership needs," said Toronto Real Estate Board
(TREB) President Bill Johnston.
The average price for transactions during the first 14 days of February was $451,257, representing a five
per cent increase compared to the first two weeks of February 2010.
"Average selling price growth for existing homes is expected to range between three and five per cent this
year. Tighter market conditions over the last four months have pushed price growth to the top end of this
range," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Read more: http://communications3.torontomls.net/newstand/news/2011/mn1102/pdf/nr_mid_month_0211.pdf

House prices to match inflation: CMHC

Canadian house prices will move in line with inflation for the next two years, Canada Mortgage and Housing Corp. said in its first quarter market outlook.

The report is the third from a major market forecaster in the last week. The Canadian Real Estate Association and Royal Bank of Canada also predicted small gains through 2011 and 2012.

Read more: http://www.theglobeandmail.com/report-on-business/economy/housing/house-prices-to-match-inflation-cmhc/article1911146/

Though I'd post an email about home buying

After you get an offer acceptance…I will probably send you an email that looks kinda like this… Not so bad, right??


Mutual acceptance was yesterday. Today is day one.


1. You have Five business days to get your inspection response back, which would end up being next Monday, the 10th. You should set that up for one day next week. I have to be there, and you should be there. I can probably block out any time M-F next week that you can do it. During daylight is better, but if it has to be after you get off work, that’s fine too. Tom is my favorite inspector and I’ve used him many times now. I’m giving you 3 names (in a separate email), and you can use whoever you want, on the list or not.

2. Be ready to have your Deposit Chque by Monday. Of course that will go towards your down payment at closing, and you will get it back if you decide based on your inspection, financing, whatever that you don’t want it anymore.

3. You have Five days to go see your mortgage broker and complete the last details of your mortgage approval by Monday the 10th, I've already sent him the offer. He should have everything complete when you meet on Thursday.

After all that stuff is out of the way, it’s just gonna be getting your financing figured out, the appraisal, and waiting. Again, congrats!

Save save save!!!!! And do NOT open any credit cards!!

your experience as a first time homebuyer

Being a first time home buyer is challenging. One of my favorite things to do is help a nervous, excited, and not knowing what to expect first time home buyer become a homeowner. It can be a stressful process, but it’s worth it in the end.

I’m proud of this couple who moved into their South Etobicoke Condo almost a year ago and have loved their first year. I was notified of this little tid bit from one of them the other day on my my webpage:

"We have already recommended Derek to a few of our friends. He was extremely helpful to us (first time home buyers). All of the condos he showed us, we loved and we had decided on ‘the one’ after a year of looking. He has a knack for knowing what the customer wants. Derek was extremely helpful and I was very pleased with his work. Highly recommended!”


Thanks for taking the time to write that Rae!!

Living in Etobicoke: Woody's Burgers bar and grill

If you in South Etobicoke and looking for a great place to find the juciest burger in town, then I recommed coming to Woody's Burgers bar and grill in Longbranch. Located at 3795 Lakeshore Blvd this burger place is impossible to miss. Keep your windows down and let your nose to the navigation. The wood burning grill can be smelled from miles away. This is one of my favorite places to eat in Longbranch, try my favorite: the Greek Beef Burger, topped with feta cheese, red pepper, fresh cucumber, tomato and tzatziki. You will also find great pulled pork sandwitches and a all day breakfeast.

Menu
Website




One Sherway Condo: My Favorite Pictures

One Sherway Condo is one of my favorites residential buildings in South Etobicoke. I thought I would give you a peak of some of my favorite snapshots that I took on one of my viewings earlier this week.

The three photos below are of the front lobby which is infused with marble and wood accents. The lobby , in my opinion is one of the nicest in the area, with modern clean lines and a cool lux feel. The designer was able to produce a water style affect with the use of glass and plastic materials. The lobby breaks into two parts, on the east side you will find tower 225 and on the west tower 335.

One Sherway Condo Lobby






























One Sherway Condos


I love South Etobiocke Condos – especially One Sherway Condos located by Sherway Gardens. In each building you find a little taste of great design and a great use of cool finishs.

Built by Great Gullf Homes in partnership with Menkes Developments, One Sherway is rapidly changing the area of Alderwood. Designed by Page + Steele Architects and Planners the four scheduled towers will be a great addition to this part of South Etobicoke. Mike Niven from Mike Niven Interior Design created a contemporary lobby complete with 24 hour concierge.

Just steps away from Sherway Gardens Mall and the QEW, One Sherway is definatly a condo building you should think about if your looking to buy a condo in South Etobicoke.

Colonel Sam Smith Park- Leash Free Dog Park


Did you know that Colonel Samuel Smith Park has a leash free dog park located next to the new ice rink trail. This leash free dog park is located on Kipling and South Lakeshore. Fully fenced this dog park is open from 6:00 am to 11:59pm every day. There's plenty of open space to run and play with your dog and get to know some cool dog breeds . Many people make their way here from other neighbourhoods but most of the local residents here love to chat and Pawty. So get out and enjoy living in Etobicoke.




Samuel Smith Park Ice Rink Trail

Etobicoke's Newest Skating Trail



Samuel Smith Park Ice Trail is located just south of Kipling and Lakeshore the newest gift that the city has given the residents of Etobicoke. This Trail is next to the Power House Recreational Centre. There is absolutely no cost to skate here and it's open from 7am to 10pm. The park is wonderfully configured as a figure eight ice park, not your conventional rectangle. This is a great place to take your kids or your significant other, enjoy and listen to some good music.

TOUGHER MORTGAGE RULES

How does this affect you?
So we all woke up Monday morning in January to discover that Jim Flaherty added three new mortgage rules to the way that Canadians can borrow money. These changes came as concern issed by the Bank of Canada that Canadian household debt levels were reaching all time highs.
These are the 3 changes that will affect every Canadian from March 18, 2011 going forward.

1)Reduce amortization period from 35 to 30 years. yes it will become more expensive to finance your home purchase, but in perspective if you have a $300,000 mortgage at a 5yr fixed rate the difference in payment will only be $100. If $100 is enough of a difference for you to no longer afford your home, then maybe you are buying something you can't afford. This rule won't have a overall impact on the market.

2) Maximize amount Canadians can refinance from 90% down to 85% of the value of the house. Directed at preventing homeowners from using their homes as ATM. No impact on the real estate market.

3) No longer insuring Home Equity Lines of credit(HELOC). Canadians were using these credit lines as ATM which is the biggest concern for the government. No impact on the real estate market, direct to current homeowners.

With talks of a rate hike in February and March and the new change in the mortgage rules me may see a surge in activity that should of been a very slow time in the year for real estate.
The best thing do to going forward is to call your Realtor or bank and have then lock in a rate if you're looking to purchase in the next 120 days.

Etobicoke Real Estate Week in Review Jan 16-22 2011



Derek Cardona video blogs about the week of January 16 to January 22, 2011 in the Etobicoke real estate including the area of The kingsway, The queensway, Humber Bay, Mimico, Longbranch, New Toronto, Alderwood, Sunnylea, Islington Village, Humber Valley Village, Princess Anne Manor, West Deane Park. If you want to voice your opinion please email Derek Cardona at dcardona@derekcardona.com visit http://www.derekcardona.com for all the Derek Cardona videos.

Etobicoke Real Estate Market Week in Review Jan 9, 2011

Derek Cardona video blogs about the week january 9 to january 15 2011 in Etobicoke Real Estate Market including areas of kingsway, The queensway-stonegate, Humber bay, Sunnylea, Mimico, Longbranch, New Toronto, Alderwood, Humbervalley village, Islington Village, Eatonville, Princess Anne Manor. If you have any questions please email dcardona@derekcardona.com and visit www.derekcardona.com for all of Derek Cardona Real Estate Video Blogs.