June Stats

Today is a scorcher of a day.  32 degrees celsius. 

Perfect day to be in the air conditioned office going over the June stats!

Here is a quote from the June edition of Market Watch regarding Etobicoke Real Estate.

“Etobicoke has seen 2,356 sales thus far in 2008, down 14% from the 2,734 recorded during the first six months of last year.  The average price was $406,197, up two per cent from the $399,525 recorded during the earlier timeframe.”

So…less sales than last year, however prices of Etobicoke real estate have gone up.

Here are the June statistics for detached homes in districts W06, W07 and W08

W06
Detached homes sold for June                 42
Average days to sell                                 24
Average Sold Price                           $ 374,373

Heres a sample of a W06 sale for June /08
                                                               
                                                                                     39 Eighth St
This bungalow sold for $370,000
2 Bedrooms
1 Washroom
Sold in 21 days for 99% of asking price.

W07 stats:
Detached homes sold       48
Average Days to Sell         20
Average Sold Price      $584, 900Heres a W07 sample for June /08
                                                              96 Meadowvale Dr.

 

                                  

This home sold for $585,000, had 2 bedrooms and was on the market for 8 days.

W08 June Stats
Detached homes sold          80   
Average days to sell            22   
Average Sale Price           $831,293   W08 June /08 Sample

 

                                                    4 Belvedere Blvd

                              

4 Belvedere sold for $ 899,000 in 44 days. 3 Bedrooms, 3 Washrooms.

Thats the stats for June!

 

And now for my own personal amusment, I’m going to include one of the highest priced sold houses in Etobicoke for June, 2008.

                                            3 Woodmere Crt

                          
This home sold for $ 2,900,000
Here are some pictures to save me thousands of words…..

    

Have a nice day !

Today I went to the variety store with the intention of buying a snickers. 
I plucked the candy bar from the rack and the guy behind the counter said ” Buck thirteen”. 
After that sparkling banter he thrust out his open palm.  
No hello. 
No ‘thank you’.
No ‘goodbye’.
No ‘have a nice day’.

After that I drove home and realized I needed fuel.  I pumped my own gas.  I checked my oil.  I gave my windshield a wash with some complimentary dirt water.  When I was done, I paid the man. 
No hello. 
No ‘thank you’.
No ‘goodbye’.
No ‘have a nice day’.

George Carlin did a comedy bit where he complained about everyone telling him to have a nice day. 

I remember being a kid and ……… actually never mind that.  I’m not going to reminsce about the good ol’ days of yesteryear.  Instead I’m going to ask where customer service has disappeared to?

Ya ya ya…maybe the variety store guy had a bad day.  Maybe I had a bad day.  Maybe its no longer efficient for a gas station to have an attendant who tended to customers.  Maybe I’m just a jerk who finds fault with trivialities.  All that is possible.

Could it also be possible that customer service is taking a huge nose dive?

Perhaps. 
What keeps me optimistic are these two examples of customer service that really make my day. 

Example Uno:
Super duper high profile real estate agent who specializes in etobicoke real estate.  For sure you know her!  I wont mention her name because its not important.  Anyways, this veteran was early for a showing appointment for a house.  In the kitchen sink there was a pile of dirty dishes. 
Yup. 
She washed the dishes. 
By hand. 
She literally got her hands dirty and used some elbow grease.  Cool.

Example Two ( i dont know the spanish word for two, although I think its ‘dos’ ?? )

Another example of an etobicoke realtor giving good customer service is……my partner Jackieeeee!  This might seem a trifle self-serving but my partner Jackie is a champ at going the extra mile.  This is what she’s done in the course of obtaining this weeks listing. Jackie has helped the seller donate some items to charity, has paid to have her clients home professionally staged, has made arrangements to obtain storage for some furniture and has had Waddingtons pick up the furniture that is going to be auctioned off.    She as also had a couple rooms repainted, had floor plans made and even posted some of her clients items on craigslist.  Whats going on here? 
Customer service.  
 
Cool.   

Have a nice day.

Sudbury? Who knew?

I’ve just finished reading an article in Money Sense magazine about its opinion on the top 35 cities for Canadian Real estate investing http://www.canadianbusiness.com/my_money/investing/article.jsp?content=20080610_134740_6864. 

 

LOCATION		VALUE		MOMENTUM		ECONOMY		OVERALL
City	Prov.	Score	Grade	Score	Grade	Score	Grade	Score	Grade
Regina	Sask.	82	A-	87	A	83	A-	84	A-
Saskatoon	Sask.	70	B-	90	A+	88	A	81	A-
Winnipeg	Man.	83	A-	82	A-	79	B+	81	A-
Barrie	Ont.	77	B+	65	C	94	A+	80	A-
Greater Sudbury	Ont.	81	A-	89	A	73	B	80	A-
Fredericton	N.B.	82	A-	70	B-	85	A	80	A-
Moncton	N.B.	77	B+	74	B	87	A	80	A-
Edmonton	Alta.	78	B+	84	A-	75	B	78	B+
Guelph	Ont.	77	B+	67	C+	85	A	78	B+
St. John	N.B.	74	B	82	A-	79	B+	78	B+
Vancouver	B.C.	73	B	80	A-	80	A-	77	B+
Kitchener	Ont.	76	B	79	B+	77	B+	77	B+
Ottawa	Ont.	82	A-	76	B	73	B	77	B+
Calgary	Alta.	76	B	81	A-	75	B	77	B+
London	Ont.	78	B+	72	B-	76	B	76	B
Kingston	Ont.	80	A-	76	B	71	B	76	B
Kelowna	B.C.	64	C	79	B+	84	A-	75	B
Halifax	N.S.	71	B-	75	B	79	B+	75	B
Toronto	Ont.	74	B	74	B	76	B	75	B
St. John’s	Nfld.	75	B	72	B-	76	B	75	B
Brantford	Ont.	72	B-	75	B	75	B	74	B
Victoria	B.C.	67	C+	74	B	80	A-	74	B
Abbotsford	B.C.	66	C	79	B+	78	B+	73	B
Hamilton	Ont.	69	C+	74	B	78	B+	73	B
Windsor	Ont.	84	A-	63	C	69	C+	73	B
Gatineau	Que.	78	B+	60	C-	75	B	72	B-
Peterborough	Ont.	72	B-	67	C+	76	B	72	B-
Thunder Bay	Ont.	80	B+	67	C+	65	C	71	B-
Charlottetown	P.E.I.	76	B	75	B	61	C-	70	B-
Quebec	Que.	74	B	72	B-	64	C	69	C+
Sherbrooke	Que.	68	C+	71	B-	68	C+	68	C+
Trois-Rivières	Que.	78	B+	71	B-	56	D	68	C+
Saguenay	Que.	70	B-	77	B+	59	D+	68	C+
Montreal	Que.	63	C	70	B-	63	C	65	C
St. Catherines- Niagara	Ont.	71	B-	62	C-	59	D+	64	C

       

This chart won’t really help you buy any etobicoke real estate but you may find it worth a perusal.  

no messages

 

Want to talk about etobicoke real estate?

Not tonight. 

I’ve got a headache.

Instead I’m going to reminisce about an agent I worked with ten years ago.  Him and I worked in Toronto in an area known as Cabbagetown.  At that time (circa 1998), our office on Parliament st had a couple hot shot agents.  You know the ones.  Suits, pagers, cell phones and perfect hair. 

In other words, boring. 

 There was one  agent there that I really liked.  Him and I became fast friends despite our 50 year age difference.  We would stay up late at night in the office playing backgammon, laughing and talking.  I didn’t mind losing to him.  It was a small price to pay for the entertainment of being with this brilliant codger. This guy was super cool.  A deep thinker with a highly analytical mind and a gift for understanding people.

When I first met him, he was an old guy in his mid 70’s.  Highly reminscent of Peter Falk from the Columbo series of yesteryear.  For this blog I’ll call him Willy.  

Willy would come in every business day wearing a frumpled up sweater and stained khaki pants.   He usually arrived at the office around noon.  His entry was always the same.  He would walk in with a twinkle in his eye and grin on his face like he just finished your bag of cookies.  After he meandered through the foyer he would ask the ‘girls’ if there were any messages.  Since he didnt have a pager or cell phone or an answering machine, the only way to contact him was to leave a message with the secretary.   Sometimes he had a couple messages.  Sometimes none.  Either way, he was a busy guy who never, ever looked busy.  Ever.  This was the most laid back high producing agent I had ever known.

  Every month he’d have a couple million dollars worth of transactions on the board. 

I would watch and study him to figure out his game.  All I ever saw him do was sit at his desk for a couple hours doing what appeared to be doodling on his pad of papers.   In between doodles he would stop and think while cracking open his peanuts and letting the carcassed shells freely land all over his static cling sweater.  What he was doing was thinking.   Thinking of ways to help his clients lives easier through the medium of real estate.  Thats basically what every successful person does.  Make life easier. 

When his doodling was done, he would take a break from his peanuts and make a call on his rotary dial phone. 

“Harry….its me, Willy……….yea…..yea…………….come by anytime before 3, after that I’m going to play with my nephew.”

That was his day.  Doodle, eat peanuts, make one phone call, have one meeting.

It wouldn’t be long before his client would come in.   Willy would greet them when they arrived while half heartedly brushing some of the peanut shells from his sweater.  There was no point to brush them off.  The evidence of his peanut preference was all over his chest, lap, desk , chair and hair.  If that wasn’t enough of a clue, he also had a decent pile of peanut detritus sprinkled in a semi circle in front of his eat zone!

Certainly not your stereotypical image of a high producing realtor. 

The next day I would look up at the deal board to see who sold what, and more interestingly, for how much.  

As usual, Peanut Willy had his name up there.  

Another building sold. 

Building. 

Downtown Toronto. 

Building. 

Sold.  

At that time I didnt know what his secret was. 
I was too busy trying to figure out how to pay for my cell phone.

It had been a few years since I’d seen him. 
I moved out of town and joined another company. 

After recently moving back to Toronto I was curious as to how good ol’ Willy was doing!  

Last week I touched base with Linda, our mutual boss/broker from the past. 

She gave me an update about good ol’ Willy !

He’s now in his mid 80’s
He had a heart attack
He had open heart surgery

 

 

 

I miss him.

Time or money?

     Its not always about the money.
 I was in a bidding war a while back.  My buyers liked the house.  Another buyer also liked the house.  Ugh.  As an agent and a buyer its NEVER fun to be competing with someone else.  Especially when you know the house is very much ‘the one’.  The sad part is that the attractive house can be ‘the one’ for someone else as well.  Unfortunately, the problem is that only one party can buy that one …. blah.

In the majority of circumstances, the way this sort of dilemma is solved, is with money.  Cash.  The green stuff.  Whoever comes up with the highest purchase price, gets the house.  That may seem a little cold but its a fact of life.  Money talks.

Sometimes it doesnt come down to the money.  This is one of those times.  The home that my buyers were interested in was owned by a widow who had lived in her house for over 40 years.  Her plan was to sell her home and move into a nursing home.  She had been on the waiting list for that nursing home for over 2 years.  She had just recently found out that there would be an opening for her within the next couple months.  Exactly what day the opening would be, was at present, indeterminable. 

That made putting an offer on her house a challenge. 

We didnt know what closing date to put.
The other interested party also didnt know what closing date to put.

Now it was time for the offer.

Realizing that creativity was needed, I suggested a game plan for my buyers and they went with it.

The other buyers made a very good offer to the widow.  Ours, according to the listing agent, was lower.  Exactly how much better the other offer was, we’ll never know. 

Why? 

Because the widow took our offer, even though it was for less money.

The reason we got the deal is because we realized that to the seller, time was more important than the money.  She was more concerned with having a closing date that matched the nursing homes date, even though that date was unknown.  She would have preferred to have the timing issue solved rather than being given a few thousand dollars more.

We solved this by putting a clause in the offer that basically stated that the seller has the right to change the closing date.  We let her have the right to move the closing date forward or backwards provided we had 2 weeks notice.  The widow totally loved that idea because it meant she could live in her house right up until her other place was ready.  My buyers didnt mind giving her that right because they were renting on a month-to-month basis.

After our offer was accepted, my clients were completely delighted.  Two months later they moved in and lived happily ever after.

Its not always about the money.

Spring Sprang

    Wow! June is here already and the hot weather has arrived even faster. Its like we went from a record breaking winter storm in the first week of March to having a June weekend with 30 degree plus weather!   Where was spring???  I especially want to know because I have a couple clients who wanted to sell their house in spring!  They’ve recently told me that they’ll postpone their moving plans til Autumn since summer has now unofficially arrived! 
How can I disagree? As I am writing this I have both the air conditioner on and a pair of shorts.  Thats summer!  In case any of you are wondering what did happen in the month of May, here are the stats for detached homes in central and south Etobicoke.

W06
 The detached home stats for the month of May 08 are as follows:

Homes Sold         =  37
Average Price       =  $467,126
Median Price        =  $386,250  
Average sale time =  30 days

Below is a photo of a typical W06 home sold in May 08
                                                                                                                             5 Thirty-Second St.
This house sold for $384,500 and was on the market for 51 days. 
Its a 3 bedroom with a finished basement
It sold on May 28th.

W07
Next we’ll check out the detached home stats in W07 for May 2008:
Detached Homes sold = 37
Average Price             = $576,816
Median Price              =  $520,000
Average days to sell    =  21

Here is a photo of a typical transaction for May 08
In   
                                                  18 Stockbridge Ave.
 18 Stockbridge sold for $502,375 in 45 days.  Its a 3 bedroom home with a finished basement and located in the area of Norseman heights.  This house sold on May 15, 08.
W08
Next up are the stats for detached homes in W08 for May 2008
Detached homes sold =  81
Average days to sell  =  26
Average Sold Price    =  $ 816,817
I picked this house because I liked the photos and because of the pool. 
 
                                                                    38 Dorlen
This home was on the market for 41 days and sold May 15.
Sold for $ 1,070,000.
4 bedrooms, finished basement and a pool to make me jealous.
  
      So thats a quick peek into some sales that occurred in May.  We’ll see how the market shapes up during the summer.  I have a feeling that homes with pools will sell faster than usual.  Especially with the days this hot in the early part of june.

 

Improving Credit Scores?

     Today I received an email from a local mortgage expert, Edward Ricciardi.  The email contained helpful information about credit ratings so, with his permission, I’m  doing a copy and paste of it.

Take it away Edward!

If you have ever taken out a loan, used a credit card or participated in a “buy now, pay later” offer, you will have a credit history.  Your credit report contains personal information, credit information, banking information, public records (bankruptcies or credit related judgments against you), collection information, consumer statements and credit report inquiries.  Before 1970 there were about 150 regional credit bureaus that divided up the country, today there are really just 3 major bureaus: Equifax Canada Inc. www.equifax.ca Transunion of Canada Inc. www.tuc.ca Northern Credit Bureaus www.creditbureau.ca Credit bureaus make money by selling your information to potential lenders and have been known to make mistakes as is inevitable when dealing with millions of consumers.  It is important to know what your credit report says about you and to make sure that your credit report is actually accurate and reflects your history.  Mistaken identity has been known to occur in instances where individuals have similar names or birthdays. You can receive your credit report in the mail for free, or online for a small fee.  It is a good idea to review your reports annually even if you’re not looking for financing, just to ensure everything is in check.  If you do find discrepancies, make changes promptly but be warned it can sometimes take a month for the changes to be made and to show up on your reports.  The top factors that make your score lower: 1.    There are too many consumer finance company accounts on your credit report.  Having too much available credit can hurt your score. If you have several consumer accounts try to consolidate those balances and close the accounts. 2.    Your account balances are too high. As a rule of thumb keep your credit card balances below 35% of the available limit. High balances ongoing will negatively affect your credit score. 3.    There is not enough recent revolving account information on your credit report. Using your credit cards regularly is an important part of building healthy credit. 4.    There have been multiple lending institutions pulling credit reports on you.  This is part of the advantage of using a Mortgage Broker; we pull one credit report and then go to several lenders vs. having several lenders each pulling your credit bureau. Tips to improve your credit rating: 1.    Always pay your bills on time.  (The payment of utility bills such as phone, cable and electricity are not recoded in your credit report, however some cell phone companies may report late payments.) 2.    Pay Debts as quickly as possible. 3.    Don’t go over the credit limit on your credit cards. 4.    Don’t make too many credit applications (use a Mortgage broker!).  Your score doesn’t change if you personally make credit inquiries. 5.    Contact creditors if you’re having trouble making payments and work out solutions. 6.    Read the statements you receive from your credit card company carefully.  Keep yourself up-to-date with any changes or fee increases. Get a copy of your credit report from all three credit-reporting agencies at least once a year and make sure they’re in order.

       ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Thanks Edward!  

Etobicoke Alchemists

    I’ve always enjoyed driving through affluent neighourhoods to look at dream homes.   I’ve gleefully  serpentined up the hot Hollywood hills of California to gawk at the celebrity mansions, and have bumped along dried dusty roads through the coarse terrains of Malta to view the ancient castles carved of cragged rock. 
      As with almost everything, sometimes you have to travel the world to appreciate and discover the treasures in your own backyard.
Here, in no particular order, are some dream homes in Etobicoke. 

                                  15 Edgehill Rd.

    

15 Edgehill sold for $ 3.7 million on November 10, 2006
Lot 150 ft x 426 ft.

                                    55 Valecrest Dr.

    

55 Valecrest dr. sold for $ 3, 675,000 on February 21st, 2006
Lot size 81 x 207 feet.

                                      18 Edenbridge Dr.

     

18 Edenbridge Sold price =  $ 4,350,000, January 11th, 2008.
Lot size= 100 x 200 feet

                              57 Edenbrook Hill

        

57 Edenbrook Hill dr. sold for $ 5.6 million, February 14, 2006
Lot = 1.4 acres (50 x 412 ft)

 

                                  55 Edgehill Rd.

     

55 Edgehill Dr.
Purchased for $5,500,000 on May 18th, 2007
Lot size 117 x 706 ft (over 2 acres)

 

      Here ends our sneak peek into some of Etobicokes dream homes.

                          

“It’s the possibility of having a dream come true that makes life interesting.”
-quote from ‘The Alchemist’ by Paulo Coelho

Sheldons Lookout.

   After a showing a house on 8th street and completely exhilarated by its lukewarm conclusion, I decided to take advantage of the warm May weather with a relaxing stroll by the lake.  The most suitable location for my mid-day jaunt was one of my new found faves, Sheldons lookout. 
I dont know who Sheldon was but he did know where to look out.

     In case you haven’t been or seen, you really should go check out the waterfront area by Palace Pier.  At Sheldons look out you can take in the view of the Toronto skyline, lake Ontario and walk along the Palace Pier bridge.  

 

                                     

 

In addition to gazing at the scenery, you can share the paths along the water with other walkers, cyclers, rollerbladers, photographers, ugly ducklings and my personal favourite, the ice cream vendors.

     With my ice cream sammy in hand, the wind at my back and the warm sun on my face, this really is a nice place to visit.  What’s even nicer is that you can actually live here!  Theres almost always several stylish condominiums available.  Prices start around $220,000 and go all the way up to several millions of dollars.  You may want to book a showing if you’re thinking about moving on up.  Actually I think the Jeffersons once had one of those deluxe apartments in the sky.   

Whether you decide to visit or live here, you’ll always have the Sheldons Lookout to enjoy the simple pleasure of a lake side stroll.
And an ice cream.

Victoria Day in Bloordale Gardens

      Happy Victoria day! 

     It was on May 24, 1819 that Queen Victoria was born.   I dont really know her history but from what I can imagine, she was a serious party girl. I say that because supposedly she’s the woman who invented the term ‘two four weekend’, bar bq’s and sparklers. She also gave Canada a holiday and us Canucks are glad she did.  No wonder she has the record for longest reigning monarch!

     For me, the weekend started by doing a couple open houses, making some phone calls and then a meeting with my business partner Jackie.

After going over the details of world domination, she as usual, got quickly bored and left to check out a small party that was brewing next door.

     She asked me to join the party, relax and not be so uptight.  Unbeknowst to her, being uptight was merely a cover for being anti-party.  I told her no thanks, not for me.  I had a lack of plans to attend to.

     Immediately upon our arrival at her neighbors’ backyard party, the customary light round of casual introductions were made. Ron and Diane, the party’s hosts, effervescent and generously accommodating, instantly offered me a comfy chair on their sun filled deck along with a choice of chilled beers.
      Upon surveying the geography of my new surroundings, my nimble fingers soon realized they were within an arms’ reach of freshly baked crab dip, a silver trayed assortment of crackers along with a cream cheese log ceremoniously adorned with a tossed jumble of voluptuously ripe raspberries.  Neighbouring this royal spread of decadent munchables was a t.v. which beckoned us to watch the Preakness stakes race in Pimlico.  As expected, Big Brown won by several lengths and I was down a shiny toonie.  Something about underdogs always causes my optimism to spill over, along with my petty cash.   Rooting for the little guy is most likely due to my multiple late night viewings of Rocky movies, no doubt.

Not to be disheartened, after the race and bar-bq feast, we all gathered around the blazing roar of their outdoor fireplace.  Night had fallen and had brought with it a drop in temperature.  The evening chill caused me and my frosty beer to opt for a better plan to keep warm.
 I switched to wine. 
And wow…what a selection!  
Queen Victoria never had it this good!

     Once we were gathered around the campfire, the stars came out as did the fullish moon.  The surprising addition to the already perfect evening was that Jackies sister, Laurie, had brought her guitar.  Not only could she strum a melody but she could sing as well.  It didn’t take long for us to pave paradise, and put up a parking lot.   Our combined vocal efforts were also good enough for me and my Bobby Mcgee!  Hey, hey, hey, Bobby Mcgeeeee! 

     The party kept going and my energizer batteries were running low.  I tried to recharge them with some carrot cake and freshly brewed coffee but alas, the long weekend lasted longer than me.

The fantastic festivities continued and our energizer bunny hosts were still going strong with their steady offerings of royal treatment. They certainly would have made Queen Victoria proud.

Heres some info real estate info about a recently sold home in the Bloordale gardens area close to Ron and Dianes.

Neighbourhood= Bloordale Gardens

Address = 27 Mayland                 2007 Property taxes=$3155
Sold price = $452,500                  Lot Size 50 x 102 feet

Schools= Bloordale Public Elementary
             = Silverthorn Collegiate Secondary school