2011 real estate

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We answer questions that have been on your mind and give you the inside on various resources you can use to empower yourself about the fast growing Toronto Condo Market.

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Toronto Condo Sales at Record High!

In Toronto last month, the Building Industry & Land Development Association revealed in their monthly report that condo sales rose 62%. Additionally, the sale of low rise homes increased significantly as well, creating a 53% total increase in sales.

Almost 65% of all new home sales in the Greater Toronto Area in June, and 61% from January to June were in high rise condominium spaces. To put the statistics into perspective, the past June is the second best June ever, for sales, the fourth best month ever for sales andThe second best first half since 2000 for total new home sales.

With a 62% rise in sales, the Toronto high-rise real estate market has never been hotter. Now is the time to invest in an urban home. CondoShow is known as the leader in condominium marketing. With a database of hundreds of Toronto condos and lofts for sale, you too may be part of the action and purchase a home today.

For more information, click HERE.

Analysis: Condo Crash Avoided Due to Demographics

The booming condominium market in Canada may well avoid the type of crash that has hobbled the industry in the past. Industry executives and analysts say demographics, immigration and limited land in the biggest markets all provide long-term support for the growing number of condominiums.

Analysts attribute part of the condo boom in Vancouver and Toronto to physical and regulatory land restraints, which have changed the mix of housing from the traditional single-family home to more stacked, and high-density communities.

In addition to first-time homebuyers, condos have also become popular for retiring baby boomers that prefer the simplicity of maintaining their condo to the upkeep of a single-family dwelling. Condos are also the only option for many Vancouver and Toronto homebuyers because even the fixer-upper homes cost around $500,000 are out of reach for many.

Data on Monday showed Canadian housing starts for June surged well past market expectations. The multiple-unit dwellings category -- mainly condominiums -- accounted for the majority of starts in urban areas and the supply is growing. BMO Capital Markets recently noted inventory of completed but unoccupied multi-dwelling units at 12,672 units in May, around historical highs, compared to 4,757 for single-family homes.

Banks and condo developers, particularly in Toronto, also appear to have learned some hard lessons from the 1980s, when many built with insufficient regard for demand and got slammed as interest rates climbed. Now, very few shovels these days will ever break ground until the developer has sold at least 70 percent of the project and has secured bank financing. Financing for individuals are also Since the Bank of Canada has been able to cut borrowing costs to a record low, bank loans continue to flow which allows home prices and sales to jump.

"It's a very well disciplined supply-side of the equation," said George Carras, president of RealNet Canada, which tracks commercial and new home projects.

Carras noted building high-density housing is a natural progression for a growing city with limited room to expand outward.


Summarized From: Analysis: Condo boom may avoid crash on demographics
Written By: Ka Yan Ng
See the original article.

The Muskoka Wharf: A $170 Million Project

Muskoka is one of Ontarios largest and most economically vibrant outdoor recreation areas. It has long served as a vacation destination for the more than 7.6 million people living in Southern Ontario, Western Quebec, New York State, Ohio and Western Michigan. Its pristine lakes, rugged landscape and charming communities are the foundation of the regions economy.

With a capital budget of about $170 million, Muskoka Wharf is the largest single development project undertaken in Muskokas history and it will only serve to strengthen the economic well-being of the district.

Muskoka Wharf is located on Highway 169, in the Town of Gravenhurst, gateway to the Muskoka and Ontarios Near North Region. Gravenhurst is a short 1 hour drive north of Toronto. Nearby communities include Barrie, Orillia, Bracebridge, Huntsville and Midland.

Over the past two decades, the Town of Gravenhurst has been acquiring lands surrounding Muskoka (or Sagamo) Bay on Lake Muskoka with the vision that one day this premier and historic site would be redeveloped as a major tourist attraction. The result is now the heritage-themed waterfront development known as the Muskoka Wharf.

As a public-private partnership, the project has brought together the common vision of the Town of Gravenhurst, Evanco Corporation, Forrec Ltd. and the Muskoka Steamship and Historical Society.

The goal of the partners was to create an exciting place for people to discover the heritage of Muskoka, shop, dine and live. We believe the master plan, prepared by world renowned Forrec Ltd., achieves that objective by providing a proper
mix of natural parkland, active recreation areas, an exciting interactive heritage centre, locations for restaurants and festive retailing, o������ces, a hotel, and luxurious residential condominium units.

The unique components and spectacular setting of the Muskoka Wharf will ensure the economic, cultural and social success of this initiative that has been designed to draw visitors to Muskoka and make the Wharf a focal point for the
community.

The heritage-based anchor attractions on the 87 acre site include: the historic Muskoka Fleet presently comprised of the RMS Segwun, the Wenonah II, and the Wanda III at one end of the property and a $5 million Heritage Centre at the opposite end.

In addition to the hotel, residential units and approximately 54,300 square feet of retail and restaurant space, the plans for Muskoka Wharf also include:

  • Marine facilities

  • An outdoor ice rink

  • Farmers Market/Square

  • Public pavillions

  • Natural parklands

  • Open spaces

  • A soccer pitch

  • A baseball diamond

  • A play court

  • Playgrounds

These facilities are all connected by trails and a pedestrian promenade around the Bay.

Total Space Per Category heigh="300" width="300"

Attractions - 24,600 sq. ft.
Retail- 35,200 sq. ft.
Foodservice - 19,100 sq. ft.
Hotel - 105,000 sq. ft.
Public Buildings - 27,150 sq. ft.
Residential Buildings - 178,000 sq. ft.

TONIGHT IS THE BIG MUSKOKA EVENT

Clean The Grille.
Find The BBQ Sauce.
Grab A Drink.
Slab On The Sunscreen.
Whip out your bathing suite.
Pack Those Picnic Baskets.

TONIGHT You Get To Learn How You Can Own A Condominium On Lake Muskoka From $149,900 At The Muskoka Wharf Real Estate Launch Event.

Date: Tuesday, June 28th, 2011
Time: Registration 6 PM, Event 7 - 9 PM
Location: The Royal LePage office at the Shops at Don Mills (above Starbucks)
Intersection: Don Mills & Lawrence

There will be a presentation about this opportunity including the investment details such as revenue sharing, maintenance costs, taxes etc. Attendees will also have exclusive access to the floor plans, views and prices before anyone else. You will also be able to reserve and purchase a unit right there and then!

If you still need to RSVP for this event click HERE. If you have any questions do not hesitate to call us at (647) 403-1832.

We look forward to meeting YOU!

SAVE THE DATE: Muskoka Wharf Launch Event

Date: Tuesday, June 28th, 2011
Time: Registration 6 PM, Event 7 - 9 PM
Location: The Royal LePage office at the Shops at Don Mills (above Starbucks)
Intersection: Don Mills & Lawrence

This is a reminder and invitation to our Muskoka Wharf Launch Event taking place TOMORROW, June 28th at the Royal LePage office at the Shops at Don Mills (just above the Starbucks).

Registration starts at 6 PM and the event starts at 7 PM and runs till 9 PM.

There will be a presentation about this opportunity including the investment details such as revenue sharing, maintenance costs, taxes etc. Attendees will also have exclusive access to the floor-plans, views and prices before anyone else. You will also be able to reserve and purchase a unit right there and then!

If you still need to RSVP for this event click HERE. If you have any questions do not hesitate to call us at (647) 403-1832.

We look forward to meeting you!

Toronto Condo Sales Reach a Record High

It appears that new condominium developments are springing up faster than the flowers these days, and those living in the GTA are snapping them up just as fast.

Sales of new condo units set a record in April after rising by 89% compared to the same time last year, making it the best April on record.

Condos make up six out of every 10 new homes sold in the GTA so far this year.

There were 37,041 new and resale units sold in 2010, enough to make it the second best year on record, and just 3% shy of the all-time record of 38,306 units sold in 2007, according to figures from Toronto-based Urbanation Inc.

Last years total condo sales represent a 20% gain over 2009 figures.

A Toronto record of 18,221 high-rise were started last year, more than twice as many as in 2009.

Resale condominium pricing was much more affordable, with existing units selling for $374 per square foot on average in the GTA. In the city of Toronto it was $487, and in the downtown core it hit $518.

Highrises accounted for more than half the new home sales in the GTA for the first time, according to a separate report by RealNet Canada Inc. Ten years ago, they made up about a quarter of all new home sales. But that has changed as single-detached homes become out of reach for many buyers.

The simple fact is that the condo has replaced the low-rise home as the starter home of choice. It is also anticipated that over the next 15 years, the population of Toronto will increase by approximately one million people, and this will ensure the demand for starter homes in the core, which today, increasingly means condo.

Read More:

Tridel: Built Green

Tridels outstanding new condominium project, Two Old Mill is currently under construction, located within the prestigious Bloor West neighbourhood at 2 Old Mill Drive. With completion scheduled for spring of 2013, the exciting project has already received a great buzz from prospective homeowners and real estate agents alike.

As the largest builder of sustainable condominiums, Tridel has assured that the new building will be environmentally responsible, energy efficient and a healthy atmosphere to live. As one of the most notorious real estate developers, Tridel is committed to promoting Tridel Built Green living spaces that create high performing communities and offer incomparable comfort.

Two Old Mill is a LEED candidate registered with the Canada Green Building Council to pursue certification by the LEED, Green Building Rating System, the most recognized system for high performance green buildings in North America.

To Register, please visit: http://www.condooutlet.com/two-old-mill-contact-us/

CondoShow.com The TV Show World Premiere

Tonight at Midnight CondoShow.com The TV Show will have its World Premiere.

CondoShow.com will be going up against Jay Leno and David Letterman for a battle for late night TV.

This is the first Condo TV Show ever about incredible condo values found both locally and internationally. The CondoShow.com TV Show will be on channel 21 (Shop TV) and run for 30 minutes.

CondoShow.com is Torontos #1 condominium marketplace for condo buyers and sellers. CondoShow.com integrates exclusive buying and selling strategies that provide buyers with up to 50%* savings on commissions and sellers with selling strategies such as state of the art virtual tours, virtual staging, and world-class websites.

Watch This Exclusive Screening!

Ontario Real Estate: A Secret Tax Shelter

ByJason Heath

TFSAs have been a welcome addition to the tax shelter landscape in Canada, but they leave something to be desired for those with substantial assets and maxed out RRSP and TFSA room.

Ontarios Real estate investment is often overlooked in the quest for tax reduction and deferral, let alone income generation and inflation protection. If real estate is all of these things, why doesnt everyone own a rental property? The answer is simple money.

Its not that investors dont have the money to get into the rental property market, because this can be easily accomplished with leverage and minimal monthly carrying costs. The problem is there is simply no money to be made by financial professionals when it comes to rental real estate. The result is that rental real estate is a secret tax shelter that few people ever consider.

What the game of Monopoly tells us, contrary to its inventors intentions, is that its smart to own property.

First, a lesson in rental real estate taxation. Rental income is taxable and rental expenses, including mortgage or line of credit interest, are tax-deductible. In many cases, if a property is financed, it will run at a loss for tax purposes creating a tax deduction against all other sources of income and therefore, a tax refund. In the meantime, real estate values grow tax-deferred until an eventual sale. Even if a property runs at positive cash flow for tax purposes, depreciation can be claimed to wipe out some or all of the taxable income inclusion.

Rental real estate has been described by some as the equivalent of a super-charged RRSP. What is a traditional RRSP? Its a tax-deferred savings vehicle; contributions are tax-deductible; it provides a future income stream; and its an investment asset. Rental real estate incorporates all of these features, plus theres no pre-determined maximum tax deduction limit like with RRSPs; withdrawals arent forced at age 71 like with RRIFs; contributions can be financed and the interest can be deducted, unlike RRSP loans; and the taxes paid on selling a rental property are at the 50% capital gains tax rate, unlike RRSP withdrawals which are fully taxable.

The Harvard and Yale endowment funds have more than 50% of their assets invested in non-traditional asset classes, like real estate. The Ontario Teachers Pension Plan, the largest single-profession pension plan in Canada, has 18% of their pension assets invested in real estate. Maybe Harvard, Yale and the OTTP know something the mainstream investment community doesnt know.

So lets do what they do and go have a drink and enjoy some prize Ontario real estate!

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