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Eau Du Soleil Waterfront Condominiums

One of Canada’s TALLEST and MOST ICONIC Waterfront Condominium Communities.

AWE Inspiring Design, Phenomenal Views and Unparalleled Destination of the next generation Waterfront Living in Toronto. Eau Du Soleil Condos will have an awe-inspiring design and grand presence on Toronto’s waterfront, with phenomenal unobstructed water views and spectacular amenities. It’s quite simply, the next generation of waterfront living, with incredible suites starting from the low $200’s.

Eau Du Soleil Condos community is the last site located along the Etobicoke Humber Shores Development area. This area has been supporting high density growth for the Greater Toronto Area, attracting residents with skyline views, access to waterfront bike trails and parks, proximity to Lake Ontario, and minimal commute to downtown Toronto.

Eau Du Soleil Condos contain two slender 50 (or 70) storey towers and three small 10 to 12 storey low rise buildings house 1000 residential units. Along Lake Shore Boulevard a 3 storey Amenity Building with a pool and fitness area will accommodate the recreation activities for residents and potentially members of the community. A large open park space, adjacent to the open green space which abuts the property line, brings the waterfront landscape into the site for the residents. Public pathways are provided through the site to connect to the open green space and the path system beyond. All of the building Lobbies and Entrances are located along the central spine of the site and are connected to walkways to the water, the Amenity Building and the streets beyond.

Toronto’s Humber Bay community has been an area that has been ripe for developments over the past few years. In years prior, Humber Bay was home to empty plots of lands and low rise underused commercial developments. It has now become one of the hottest spots for development in the city of Toronto, with iLoft and California Condos by Camrost Felcorp, Lago Condos by Monarch Group, Ocean Club by Graywood Developments and Beaverhall Homes. You can also add Onni’s Westlake communities and others to the list. Located at 2183 Lakeshore Road West, Eau Du Soleil will be built on one of the final empty plots of land at Humber Bay, the site of the former Beach Motel.

Empire Communities is an award winning builder who brings a high reputation to everything that they build.  They focus on producing a quality product while serving the needs of their customers. Some of their landmark developments include FLY Condos on Front St. Schoolhouse in the Annex and The Modern on Richmond.

Eau Du Soleil Features and Finishes
Tower A (Sky Tower)

Building Amenities

  • Arrival Porte Cochere
  • Gracious Lobby with double-sided fireplace and seating area
  • 24-hour Concierge
  • Guest Suites for visiting family and friends
  • Superintendent Suite
  • Wi-fi enabled amenity areas
  • Pet Wash area
  • Car Wash area

Health and Wellness

  • Indoor salt-water pool with whirlpool
  • Men’s and women’s change rooms with showers and dry saunas
  • Professionally equipped exercise room with weight training and cardio areas
  • Cross Fit Training Zone
  • Yoga & Pilates studio equipped with mats and stability balls
  • Spin Room equipped with bikes
  • Mixed Martial Arts Room
  • Relaxing Lounge area
  • Treatment Rooms
  • Kids Play Area
  • Outdoor Terrace with seating area

Entertainment Area

  • Party Room complete with kitchen, wet bar and lounge area
  • Private Dining Rooms complete with kitchens
  • Billiards / Games Room equipped with card tables and pool table
  • Meeting Room
  • Theatre Rooms
  • Outdoor landscaped Terrace complete with BBQ’s, fire pit, cabanas and seating areas
  • Outdoor Bar area

Suite Features

  • Private balcony, terrace or patio as per plan*
  • 9′ ceilings on all floors (10′ ceilings on 60Ul floor and up)
  • Secure, solid core suite entry door with dead-bolt and guest viewer
  • Stylish white interior doors with modern hardware (contemporary sliders where applicable)
  • Mirrored sliding doors on foyer entrance closet as per plan*
  • Plank laminate engineered flooring in living room, dining room, kitchen, bedrooms, den, foyer and hallways as per plan
  • Choice of glazed porcelain or ceramic tiles for bathrooms
  • White ceramic floor tile for laundry room
  • Walk-in closets as per plan*
  • Vinyl-coated wire closet shelving as per plan*
  • Front-load stacked washer and dryer in white
  • Cultured marble window sills where applicable
  • Walls painted with white latex paint; semi-gloss white in bathrooms and all trim work
  • Individual climate control centralized air conditioning and heating
  • Separately metered suites for personal control of suite hydro, water and heating & cooling consumption

Kitchens

  • Stainless steel appliance package including slide-in stove, fridge, dishwasher, hood fan and microwave
  • Custom-designed contemporary kitchen cabinets
  • Polished granite countertop
  • Glass tile backsplash
  • Stainless steel kitchen sink with single lever pull-out faucet

Bathrooms

  • One-piece custom-designed cultured marble integrated sink with single lever faucet
  • Designer vanity mirror including light fixture
  • Soaker tub as per plan*
  • Framed glass shower enclosure as per plan*
  • Pressure balanced valves for tub & shower
  • Choice of ceramic or glazed porcelain tile for floor, tub and shower enclosures
  • Rain shower heads
  • Privacy locks on all bathroom doors
  • Exhaust fans vented to the outside

Electrical & Communications

  • Phone and data cable wired in all suites
  • Conveniently located phone outlets in kitchen, living room, bedrooms, and den as per plan
  • Light fixtures in foyer, halls, kitchen, den and walk-in closets
  • Capped ceiling outlet in bedrooms
  • White “Decora” style switches and receptacles throughout

Building Security, Safety & Sprinklers

  • Personally-encoded security system, with keypad and door contacts
  • Heat/smoke and carbon monoxide detectors connected to building alarm as required by code
  • Entrances, exits, elevators and selected exterior areas monitored by closed circuit television system
  • Key fob allows effortless access at selected secure building entrance points
  • Main garage doors operated by key fob or transmitter
  • Main front entrance cameras allow you to view your visitors on a special channel on your own TV
  • Underground parking with security cameras in the garage area along with parabolic mirrors for greater visibility of pedestrians and vehicles
  • Well lit underground garage and exit stairwells painted white
  • Garage is ventilated and protected by a fire sprinkler system for added safety and protection
  • Heated parking ramp for added vehicle traction

(Note: all kitchen appliances are stainless steel. Washer and dryer are in white.) All of the above specifications are from Vendor’s standard samples and as per plan. Variations from Vendor’s samples may occur in finishing materials, kitchen and vanity cabinets, floor and wall finishes due to normal production. The Vendor reserves the right to substitute materials and/or suppliers of equal or greater quality at any time at their sole discretion. Engineered and laminate flooring may react to normal fluctuating humidity levels producing gapping or cupping, both considered to be within acceptable industry standards. The buyer acknowledges that failure to maintain standard humidity levels may result in excessive gapping or cupping and that the Vendor will not be held liable. The ceiling height of any suite is approximate and is measured from the upper surface of the concrete floor slab to the undersurface of the concrete ceiling slab. Where ceiling bulkheads are installed, the ceiling heights will be less than the stated ceiling height for that floor. Where dropped ceilings are required, (in areas such as foyers, closets, kitchens, bedrooms, dining rooms, bathrooms, laundry rooms, and hallways), the ceiling height will also be less than the stated ceiling height for that floor. All ceilings are white stippled excluding bathrooms. Prices, specifications and terms are subject to change without notice. Refer to E. & O.E. April 2012. ‘Availability determined by suite design.

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10 Staging Secrets From the Pros for a Quick Home Sale at Top Dollar

According to the National Association of Realtors, staging a home prior to listing it can result in a faster and more profitable sale.In fact, the Real Estate Staging Association estimates that professionally staged properties spend 73 percent less time on the market, receive more foot traffic, and typically sell for more money.2

Source: National Association of Realtors

Following are 10 tips you can use to get your home “show ready” prior to hitting the market. These easy and cost-effective ideas will help your house look its best—and help buyers visualize themselves living there. Even if you’re not currently in the market to sell, you can use these tactics to breathe new life into your existing home decor.

To get a plan customized for your particular property, give us a call to schedule a free consultation. We’d be happy to share our insider knowledge of the buyer preferences in your neighborhood … so you’ll know where to focus your time, money and energy to maximize your results.

  1. REMOVE CLUTTER

Decluttering is typically the first thing we tell clients to do to prepare their home for sale. And according to the National Association of Realtors, a whopping 93 percent of agents agree.1 Decluttering is the act of removing excess “stuff” from your home to make it appear clean and spacious.

Overflowing closets and cluttered countertops can make your house feel small and cramped. In contrast, sparsely-filled closets and clear countertops will make your home appear larger and assure buyers that there will be plenty of room to store their belongings.

Don’t neglect drawers, cupboards and even your refrigerator in your decluttering efforts. Serious buyers will check out every nook and cranny of your home, so pack up anything you don’t use on a daily basis and store it off site. The same goes for jewelry, sensitive documents, prescription medication, firearms and other items of value. Store them in a locked safe or storage unit before opening your property to buyers.

Make sure any items that remain are clean, tidy and well organized. The good news is, when it comes time to move, a large portion of your packing will be done!

  1. DEEP CLEAN AND DEODORIZE

From carpets to bathrooms to appliances, having a clean home is a MUST. If you’ve ever checked into a dirty hotel room, you can imagine how buyers can be turned off by a home that hasn’t been thoroughly cleaned.

If you have a large home, or are short on time, you may want to invest in a professional cleaning service. And if you have carpet, we generally recommend you rent a steam cleaner or hire a company to clean your carpets for you.

In addition to cleaning, it’s equally important to neutralize odors in your home that can be off-putting to buyers, especially pet smells and cigarette smoke. If the weather allows, open your windows and let in fresh air. Empty the trash frequently, and especially before a showing. Avoid cooking any strong-smelling food such as fish or heavy spices. You may need to clean (or remove) drapes and upholstery if odors are particularly strong.

Try to keep your home in clean, show-ready condition while it’s on the market. You never know when a potential buyer will want to drop by for a viewing.

  1. DEPERSONALIZE

Your family photos and personal mementos are often your most treasured possessions. For many of us, they are what make a house a home. However, buyers will have a hard time envisioning themselves living in a place if it feels like YOUR home.

Pack up any items that are personal to you and your family, such as photos, books, children’s artwork, travel souvenirs and religious items. Collectibles and excessive knickknacks can be distracting to buyers. Instead, keep your decor items minimal and generic to appeal to the largest number of buyers.

  1. NEUTRALIZE YOUR COLOR PALETTE

Along those same lines, bold color choices may not appeal to all buyers. By incorporating a neutral color palette throughout your home, buyers can better visualize the addition of their own furniture and decor, which may contrast with your current color scheme.

But don’t limit yourself to white and beige. Incorporating earth tones and midtone neutrals—like mocha and “greige” (grey-beige)—can add a touch of modern sophistication to your decor.3

 

One of the quickest and most cost-effective ways to neutralize your home’s decor is with paint. Walls painted in dark, bold or bright colors can turn off buyers. A fresh coat of paint in a neutral color like greige (try Benjamin Moore’s Revere Pewter) or warm white (such as Kelly-Moore’s Rotunda White) offers a clean palette upon which buyers can visualize adding their own personal touches.4

If your sofa is worn, stained or has a bold pattern, consider purchasing a neutral-colored slipcover. Dated or overly busy window coverings should be taken down or replaced. Instead, bring in tasteful pops of color with throw pillows and accessories.

  1. INCREASE YOUR CURB APPEAL

 You only get one chance to make a first impression. According to a 2017 report by the National Association of Realtors, 44 percent of home buyers drove by a property after viewing it online but did NOT go inside for a walkthrough.5 That means if your curb appeal is lacking, buyers may never make it through the door.

Walk around your home and look for any neglected areas that might seem like “red flags” to buyers, such as missing roof shingles or rotted siding. Trim trees and shrubs if needed, and make sure your lawn and flower beds are well maintained. Add some colorful flowers to your front beds and/or flower boxes to brighten up your landscaping.

Make sure the exterior of your home is as clean as the interior. This can often be accomplished with a simple garden hose. But if your siding, walkway, or driveway are stained or dingy, you may want to rent a pressure washer.

Thoroughly wash windows and screens, and remove and store dark solar screens if you have them. Open shutters, curtains and blinds, which will not only make your house look more inviting from the outside, it will brighten the inside.

Consider a fresh coat of paint on your front door, trim and shutters. And small, cosmetic improvements like new house numbers, a colorful wreath and a clean front doormat can have a big impact.6

  1. FRESHEN KITCHENS AND BATHS

 Kitchens and bathrooms will show better and appear larger if all items are cleared from the countertops, except for one or two decorative pieces.7 You should have already packed up non-essentials during your decluttering process, and the remaining items should be neatly stored in pantries and cupboards.

If your cabinets are dingy or outdated, adding a fresh coat of paint and new hardware is an easy and inexpensive way to make them modern and bright. Consider purchasing new shower curtains, bath mats and towels for the bathrooms and new dish towels for the kitchen.

Before each showing, make sure kitchens and baths are spotless and trash cans are empty and out of sight. To add a comforting aroma, try baking cookies, or in the fall, simmer some cinnamon sticks and cloves in a pot of water before you leave the house. In the spring, try a vase of fresh cut lilacs.7

  1. SET THE TABLE

Buyers often imagine hosting family gatherings in their new home, and the dining room plays a large role in that vision. If your dining room chairs are stained or outdated, you may want to recover them or use slipcovers. In most cases, an imperfect table can be camouflaged with a neutral and stylish tablecloth.

Be sure the table is centered underneath the chandelier and on the area rug if you’re using one. If your dining room is small, remove all other furniture and leave only four chairs.8

Dress up the table using nice tableware and cloth napkins or a table runner and centerpiece. For a long table, try lining up a series of small vessels down the middle.

 

  1. REARRANGE FURNITURE

Start in your living room and think about what you want to emphasize (and de-emphasize) about the space. For example, do you have a beautiful fireplace or a stunning view? If so, arrange the furniture with that focal point in mind. Use a symmetrical seating arrangement to create a cozy conversation area adjacent to the focal point.

If the room is small, consider removing some of the furniture to make it feel larger, especially oversized pieces. That includes oversized television sets, unless it’s a designated media room. Pulling furniture away from the wall can make the room feel more spacious, and placing your largest furniture piece in the far-left corner (as opposed to near the entry) can create the illusion of a larger space.9

For small bedrooms, remove all the furniture except the bed, bedside tables and a dresser. If it’s a large room, add one or two chairs and a table to create a seating area. Place lamps on the bedside tables and seating area if you have one.10

Make sure each space in your home has a clearly defined purpose. For example, if you’ve been using an extra bedroom as a catch-all storage space, stage it as a guest room or office instead. Turn an awkward alcove into a workstation or a reading corner. Help buyers imagine how they could use the space themselves.3

  1. LIGHTEN UP

Lighting can have a drastic impact on the look and feel of a home. Few buyers seek out a dark house; most prefer one that’s light and bright. Make sure windows are clean, and open curtains and blinds to let in the maximum amount of daylight.

Each room should have three types of lighting: ambient (general or overhead), task (such as a reading lamp or under-cabinet light), and accent (such as a floor or table lamp). Aim for a goal of 100 total watts per 50 square feet.11 If your mounted light fixtures are dated, replacing them with something more modern is an easy and inexpensive upgrade that can have a big impact.
Strategically placed landscape lighting can add a dramatic effect to your home’s exterior. Welcome evening visitors with a lighted walkway, or use a spotlight to accentuate trees or other landscaping features. Solar lights require no wiring; simply place them in a sunny spot and they will turn on automatically at dusk.

  1. HIGHLIGHT YOUR BACKYARD’S BEST FEATURES

 While your home’s interior often takes center stage, don’t forget about staging your home’s outdoor areas to help buyers imagine how they could utilize the space.

Even a small patio can become a selling feature with the addition of a cafe table and chairs. Add a tray of plates and coffee cups to help buyers envision a peaceful breakfast on the back porch. Place chairs and wine glasses around an outdoor firepit or hang a hammock with a book in your favorite shady spot.3 These small, simple additions can help buyers visualize the possibilities your backyard has to offer.

BEFORE YOU GET STARTED

If you’re in the market to sell your home, this list provides a great starting point for your preparations. But nothing beats the trained eye and expertise of a real estate agent. Before you do any work, we recommend consulting a professional for advice about your particular property.

We offer free, no-commitment seller consultations and will walk through your home with you to help you assess which projects and upgrades are worth your time and money, and which ones you can skip.

As local market experts, we are intimately familiar with buyer preferences in your area. We’ll run a comparative market analysis to find out how your home compares to others currently on the market, as well as those that have recently sold. Then we’ll tailor a custom plan to suit your particular property, budget and needs.

Please call or email us today with questions or to schedule a free consultation!

Sources:

  1. National Association of Realtors –
    https://www.nar.realtor/sites/default/files/migration_files/reports/2017/2017-profile-of-home-staging-07-06-2017.pdf
  2. Real Estate Staging Association –
    http://www.realestatestagingassociation.com/content.aspx?page_id=22&club_id=304550&module_id=164548
  3. Houzz –
    https://www.houzz.com/ideabooks/2661221/list/sell-your-home-fast-21-staging-tips
  4. HGTV –
    https://www.hgtv.com/design/outdoor-design/landscaping-and-hardscaping/10-curb-appeal-tips-from-the-pros-pictures
  5. National Association of Realtors –
    https://www.nar.realtor/sites/default/files/reports/2017/2017-home-buyer-and-seller-generational-trends-03-07-2017.pdf
  6. The Spruce –
    https://www.thespruce.com/must-try-neutral-paint-colors-797983
  7. HouseLogic –
    https://www.houselogic.com/sell/preparing-your-home-to-sell/home-staging-checklist/
  8. com –
    http://www.stagemyownhome.com/staging-the-dining-room.html
  9. com –
    https://www.realtor.com/advice/sell/small-living-room-staging-tricks/
  10. SFGATE –
    http://homeguides.sfgate.com/stage-master-bedroom-34573.html
  11. HGTV –
    https://www.hgtv.com/shows/designed-to-sell/15-secrets-of-home-staging-pictures
 
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Posted by on May 3, 2018 in Condominiums

 

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RBC Chief Sounds Alarm on Flood of Foreign Cash in Canadian Real Estate

Many Canadian Residents can’t qualify for mortgage to buy a home while the foreign investors enjoy profit in Canadian Real Estate Market. Full story below:

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  • ‘No thank you,’ McKay says to unproductive capital in homes
  • Intensive bidding is beginning to ease as prices stabilize

Foreign inflows are distorting Canada’s already constrained housing market and aren’t the kind of investment the country needs, the chief executive officer of Royal Bank of Canada said.

 “We do not need foreign capital using Canadian real estate as a piggy bank,”  David McKay, said Tuesday at a bank conference in New York hosted by the Toronto-based lender. “If capital is coming in to sit in a home, unproductively, and is distorting your marketplace and the livelihood of your residents — no thank you.”

McKay, whose bank is Canada’s largest mortgage lender, says he’s supportive of government taxes and other measures targeting foreign buyers, as well as other regulatory efforts to cool the country’s housing market. He’s seeing some impacts from these rule changes, with “a little bit more healthy dynamics.”

 “Demand is down and house prices have been stable,” McKay said. “There’s still intensive bidding, but to a lesser degree.”
Toronto, Canada’s biggest housing market, has been correcting over the past few months amid a slew of regulations put in place to steady booming prices and increasing debt. Toronto home sales fell 35 percent in February from a year earlier, marking the weakest month of sales in nine years, though benchmark prices were up 3.2 percent on the year, according to data released Tuesday by the Toronto Real Estate Board.

Added Gasoline

Canada’s housing market has been on edge this year as mortgage guidelines came into effect, making it harder for prospective buyers to qualify for loans.

A surge of foreign money into Canadian housing had been adding “gasoline” to markets in Vancouver and Toronto, McKay said. He identified a “cocktail of factors” that led to unconstrained growth of Toronto and Vancouver home prices, including a growing population, land constraints, lack of supply and highly stimulative interest rates that caused people to funnel more disposable income into their homes in addition foreign money.

Source: Bloomberg.com

 
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Posted by on April 15, 2018 in City of Toronto, Commercial Real Estate, Condominiums, New Announcement, New Condominiums, New Condos, New Construction, New Development, New Homes, Toronto Housing, Toronto New Condos

 

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A sold-out high-rise condominium project in the new Vaughan Metropolitan Centre is cancelled.

A sold-out high-rise condominium project that promised to deliver units to the new Vaughan Metropolitan Centre is the latest in a string of cancelled condo projects, leaving more than 1,100 hopeful buyers in limbo.

Vaughan condo cancelled

Cosmos Condominiums was announced by Liberty Development Corporation in 2013, began pre-selling condo contracts in 2016 and was supposed to start delivering units in 2019. This week, buyers received letters from Liberty saying the project was “challenged” by “unsatisfactory financing terms” and cited early cancellation language in the contracts and said it would return buyer’s deposits.

At the time of its pre-sale offering period, Liberty sold 780 units in the first two towers in 25 days, according to real estate analysts at Altus Group. The project was later described as “sold out” of its 1,153 units on the company’s web pages, which have since been taken down.

 It’s at least the ninth condo project to cancel in the last year in the Greater Toronto Area, well above the typical yearly average, according to condominium analysts at Urbanation. It’s also one of the largest developments in the region to vanish, compared with the 68-unit Kennedy Gardens in Scarborough (cancelled in January) or the 168-unit Museum Flats building (cancelled in October, 2017) in Toronto.

Still, it represents a tiny fraction of the total development plans in the region: at least 600 new residential projects are in various selling and planning stages across the GTA.

 Developer pre-sale agreements are strong contracts that typically allow them to cancel projects with few penalties and no obligations to former buyers if a project restarts later.

“We have recently learned that because of circumstances beyond our control and Liberty’s best intention, our project, Cosmos Condominiums, has been challenged,” reads the letter, signed by Liberty director of sales and marketing Shawn Richardson. “At this time, financing for the project on terms satisfactory to the Vendor cannot be arranged … It will force the project vendor to now cancel all Agreements of Purchase and Sale.”

The “vendor” in this case is the owner of the land, which is a numbered company: 1945086 Ontario Inc. Liberty spokespeople would not confirm the owner of 1945086 Ontario Inc., but the company is registered at the same 1 Steelcase Rd. address as Liberty Development Corp. and lists Feyedoon (Fred) Darvish as its president. Mr. Darvish is also the president and founder of Liberty.

Mr. Richardson, Mr. Darvish and CEO Latif Fazel did not respond to interview requests. In a statement, the company repeated its explanation from buyer’s letters.

The company didn’t explain what went wrong with the financing, but conditions for builders have changed significantly in the last 24 months.

When Cosmos launched in 2016, it was selling units for about $540 per square foot,according to Urbanation. More recent projects launched in Vaughan were able to fetch more than $700 per square foot, close to a 30-per-cent increase.

Construction costs have also been rising rapidly in the last 18 months, particularly among critical concrete-forming and window suppliers in the region, who are charging 30 to 50 per cent more than they were asking in 2016.

The buildings were to be erected on the corner of Highway 7 and Maplecrete Road, and units were priced between the mid-$200,000s and just under a million dollars.

“When my clients received this shocking news in the mail from builder they got heart broken, because this builder has their deposit and they didn’t invest in any other projects that launched in this area after Cosmos condos. They all planned out to move there in few short years in their first home. The dream that didn’t come true for them at this time. It literally kicked them out of the market due to higher condo prices and they will remain as rental tenant.”

 

Source: The Globe and Mail Inc., + nasim yusufi

 
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Posted by on April 7, 2018 in Condominiums, cosmo condos

 

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Urban Townhomes

Rouge Townhome

It is a new townhouse development currently under construction. The development is scheduled for completion in 2018. Sales for available units range in price from $504,990 to over $674,990 and the unit sizes range from 841 to 1300 square feet.

Click Here To Register To Get Pricing & Floor Plans

All information, prices, terms and conditions subject to change without notice. E. and O.E.

 

 

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Real Estate Forecast for 2018: What to Expect!

Real Estate Forecast for 2018: What to Expect!

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Real Estate Forecast for 2018: What to Expect

As we head into a new year, the most common question we receive is, “What’s the outlook for GTA’s real estate in 2018?”

 

It’s not just potential buyers and sellers who care; current homeowners also want reassurance about the value of their investment. No one knows exactly what 2018 will bring, but we’ve outlined expert predictions on where the market is headed and how government interventions are expected to impact the Canadian housing market in the year ahead.

HOUSING PRICES WILL REMAIN HIGH IN URBAN CENTRES

Although the Toronto real estate market did experience a slowdown in 2017, housing affordability will remain a major issue in both Toronto and Vancouver in 2018. According to the Royal Bank of Canada’s most recent Housing Trends and Affordability Report, as of Q2 2017 it cost more than 75 percent (Toronto) and 80 percent (Vancouver) of median household income to cover the average cost of owning a home.1

In an effort to stabilize prices, both the Ontario and British Columbia governments enacted a 15 percent tax on foreign investments in housing. However, according to the PricewaterhouseCoopers report on Emerging Trends in Real Estate: Canada and the United States 2018, “Industry players are skeptical that recent tax moves … to curtail foreign investment will have a long term cooling impact on housing affordability in Toronto and Vancouver.”2

In its Canadian Regional Housing Outlook, TD Economics predicts ”The decline in sales activity in both Vancouver and Toronto has helped to redistribute the balance of power from a pure seller’s market, back towards buyers, as evidenced by the sales-to-listing ratios. But, first-time homebuyers sitting on the sidelines waiting for higher interest rates to trigger a market crash may be holding their breath for a while. Prices are likely to only reset back to levels that existed prior to a year of exorbitant gains.”3

The high cost of living has forced a growing number of millennials to seek alternatives to traditional housing. The 2016 census found 47.4 percent of young adults in Toronto and 38.6 percent in Vancouver live with a parent. PricewaterhouseCoopers predicts a rise in multi-generational and multi-family homes, a move towards larger condominiums to suit growing families, and a flight from urban cores as new public transit projects make commuting more feasible.2

What does it mean for you? If you’re a current homeowner, you can expect your investment to hold its value and continue to appreciate over the long term. And if you’re considering selling this year, contact us to request a free Comparative Market Analysis to find out how much you can expect your home to sell for under current market conditions.

If you’re a potential buyer who has been waiting for real estate prices to drop, don’t expect a fallout any time soon. Governmental bodies have taken steps to slow down skyrocketing prices, which has helped to balance the market. Now is a great time to buy. And if traditional housing options don’t fit your budget, we can help you find alternatives to meet your needs.

GOVERNMENT INTERVENTIONS WILL HELP TO STABILIZE THE MARKET

Skyrocketing real estate prices have caused Canadians to take on a growing amount of debt. The federal Parliamentary Budget Office (PBO) reports that the average household indebtedness is up to 174 percent of disposable income, and they predict it will reach 180 percent by the end of 2018. Coupled with rising interest rates, the share of income that will go towards debt payments is expected to reach historic proportions.4

Regulators at the Office of the Superintendent of Financial Institutions (OSFI) have attempted to curb the potential fallout with interventions, the latest of which went into effect on January 1. These new regulations raise the requirements for mortgage borrowers with down payments of 20 percent or more. They are now required to qualify for a mortgage at an interest rate two percentage points higher than their current rate to ensure they can manage payments when interest rates do inevitably rise.

A similar “stress test” was enacted in 2016 for borrowers who put down less than 20 percent, but that regulation impacted a much smaller percentage of buyers.

According to Jeremy Rudin, the head of OSFI, “We clearly see the potential risks caused by high household indebtedness across Canada, and by high real estate prices in some markets. We are not waiting to see those risks crystallize in rising arrears and defaults before we act.”5

All federally regulated financial institutions will be obligated to utilize these requirements for both new mortgages and mortgage renewal applications of borrowers applying to switch lenders. It is not mandatory to apply the test at mortgage renewal for existing borrowers. Since credit unions are regulated provincially, they are not required to follow the new OSFI rules, although some may choose to out of prudency.

What does it mean for you? With new rules in effect, if you’re a buyer, your purchasing power may be impacted. If you’re concerned you may not be able to meet these requirements, securing your mortgage through a credit union may be an option. We are following this issue closely. Give us a call so we can discuss how these new rules will affect your home search.

If you’re considering selling your home this year, these regulations could alter the type of buyer who will be willing and able to purchase your home. We have expertise in this area and know how to market your home to a changing demographic.

5 YEAR MORTGAGES WILL MAKE A COMEBACK

Expect interest rates to rise in 2018. Bank of Canada has indicated that borrowers should expect to see rate increases this year … and notably, nearly half of Canadian mortgage holders are set to renew their mortgages in the next 12 months. Combined with the new, more stringent “stress test” requirements, a greater number of homeowners will be opting for five-year-fixed rate mortgages over the historically popular variable rate mortgages.6

According to LowerRates.ca, “Since January 2014, 56% of Canadian borrowers who applied for a mortgage through LowestRates.ca have gone variable, compared with 43% of those who got a five-year fixed. But this past August, there was a shift, where the five-year-fixed rate mortgage saw a sharp increase in applicants, with 59% of users on the LowestRates.ca site opting for this option versus only 39% opting for the variable mortgage.”7

What does it mean for you? If you’re in the market to buy, act now. Rising interest rates will decrease your purchasing power, so act quickly before interest rates go up. Give us a call today to get your home search started.

And if you’re a current homeowner who is set to renew your mortgage, you may want to consider locking in a five-year-fixed rate. Contact us if you would like assistance navigating your options.

 

 

2018 ACTION PLAN

If you plan to BUY this year:

 

1.    Get pre-approved for a mortgage. If you plan to finance part of your home purchase, getting pre-approved for a mortgage will give you a jump-start on the paperwork and provide an advantage over other buyers in a competitive market. The added bonus: you will find out how much you can afford to borrow and budget accordingly.

2.    Create your wish list. How many bedrooms and bathrooms do you need? How far are you willing to commute to work? What’s most important to you in a home? We can set up a customized search that meets your criteria to help you find the perfect home for you.

3.    Come to our office. The buying process can be tricky. We’d love to guide you through it. We can help you find a home that fits your needs and budget, all at no cost to you. Give us a call to schedule an appointment today!

 

If you plan to SELL this year:

 

1.    Call us for a FREE Comparative Market Analysis. A CMA not only gives you the current market value of your home, it’ll also show how your home compares to others in the area. This will help us determine which repairs and upgrades may be required to get top dollar for your property … and it will help us price your home correctly once you’re ready to list.

2.    Prep your home for the market. Most buyers want a home they can move into right away, without having to make extensive repairs and upgrades. We can help you determine which ones are worth the time and expense to deliver maximum results.

3.    Start decluttering. Help your buyers see themselves in your home by packing up personal items and things you don’t use regularly and storing them in an attic or storage locker. This will make your home appear larger, make it easier to stage … and get you one step closer to moving when the time comes!

 

WE’RE HERE TO HELP

 

While national real estate numbers and predictions can provide a “big-picture” outlook for the year, real estate is local. And as local market experts, we can guide you through the ins and outs of our market, and the local issues that are likely to drive home values in your particular neighbourhood. If you have specific questions, or would like more information about where we see real estate headed in our area, please give us a call! We’d love to discuss how issues here at home are likely to impact your desire to buy or a sell a home this year. Please visit our website SnapHomes.ca for latest MLS listing and pre-construction Homes & Condos.

Can’t find what you are looking for? Contact us for Exclusive list of Pre construction Homes and Condos and our pocket listings for Land!
Sources:

1.     Royal Bank of Canada’s Housing Trends and Affordability Report –
http://www.rbc.com/newsroom/_assets-custom/pdf/20170929-ha.pdf

2.     PricewaterhouseCoopers Emerging Trends in Real Estate 2018  –
https://www.pwc.com/ca/en/real-estate/assets/Real_Estate_ETRE_2018_PDF.pdf

3.     TD Economics Canadian Regional Housing Outlook –
https://economics.td.com/canadian-regional-housing-outlook-aug-2017

4.     Office of the Parliamentary Budget Officer –
http://www.pbo-dpb.gc.ca/en/blog/news/HH_Vulnerability

5.     Financial Post
http://business.financialpost.com/personal-finance/stricter-osfi-rules-on-mortgage-lending-will-do-more-harm-than-good-fraser-institute

6.     Bank of Canada Financial System Review November 2018  –
https://www.bankofcanada.ca/wp-content/uploads/2017/11/fsr-november2017.pdf

7.     Maclean’s  –
http://www.macleans.ca/economy/money-economy/canadians-rushing-to-lock-down-five-year-fixed-rate-mortgages/

 

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Lakeside Residences

Lakeside Residences is a new condo development by Greenland Group (Canada) currently in pre construction at 215 Lake Shore Boulevard East, Toronto. Lakeside Residences has a total of 1148 units.

Click Here To Register To Get Pricing & Floor Plans

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Lakeside Condos is a new condominium development by Greenland Group currently in pre-construction located at 215 Lake Shore Boulevard East, Toronto in the Waterfront neighbourhood with a 93/100 walk score and a 100/100 transit score. Lakeside Condos is designed by Hariri Pontarini Architects. The project is 49 storeys tall and has a total of 1148 suites.

LAKESIDE Condos Highlights:

Has a walkscore of 93/100: walkable EVERYWHERE
Located in the Waterfront Communities-The Island neighbourhood in Toronto
16 minute walk to Union Station
Walking distance to Billy Bishop Airport and The Financial District
8 minute walk to St. Lawrence Market and Toronto Island Ferry Terminal
Steps from Lake Ontario and Sugar Beach
Close access to University of Toronto St George Campus and Ryerson University
Close to shops, restaurants and entertainment
Has a transit score of 100/100: World class public transportation
Nearby parks include St. James Park, Berczy Park and Sculpture Gardens
✔ Excellent WalkScore of 93/100, perfect TransitScore of 100/100, and great BikeScore of 86/100
✔ Local and nearby attractions and things to do include the Hockey Hall of Fame, Berczy Park, the Distillery Historic District, the CN Tower, Rogers Centre, Ripley’s Aquarium of Canada, Toronto Railway Museum, Harbourfront Centre, Princess of Wales Theatre, Simcoe Wavedeck, Royal Alexandra Theatre, the Air Canada Centre, HTO Park, Glenn Gould Studio, TIFF Bell Lightbox, Toronto Music Garden, Roy Thomson Hall, National Ballet of Canada, Cynthia Findlay Antiques, Nathan Phillips Square, New City Hall (architecture), York Quay Centre, Bay of Spirits Gallery, and the Four Seasons Centre for the Performing Arts
✔ Restaurants located near the area include Belle Restaurant, Marche, Oliver & Bonacini Café Grill, Ki Modern Japanese & Bar, Over Easy, Biff’s Bistro, The Irish Embassy Pub & Grill, Wildfire Steakhouse, Jump Restaurant, IQ Restaurant, Fran’s Restaurant & Bar, Druxy’s Famous Deli, Movenpick Café, Bottom Line Restaurant, Manchu Wok, Edo Japan, Beer Bistro, Tamarind, Old Spaghetti Factory, Canoe Restaurant & Bar, Carisma, East Thirty-Six, P.J. O’Brien Irish Pub & Restaurant, Teller’s Bar & Lounge, and Uncle Tony’s Restaurant
✔ Local schools to the area include Downtown Alternative School, DreamShare Learning, Centre Des Pionniers, Market Lane Junior and Senior School, Saint Michael School, and EV Charging Station

All information, prices, terms and conditions subject to change without notice. E. and O.E.

 

 

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Guildwood Condominiums

Guildwood Condominiums is a new condo development by Scollard Development Corporation currently in preconstruction. The development is scheduled for completion in 2018. Sales for available units range in price from $299,900 to $699,900. Guildwood Condominiums has a total of 112 units, sizes range from 511 to 1432 square feet.

Click Here To Register To Get Pricing & Floor Plans

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BUILDING FEATURES Smooth ceilings throughout with 9’ ceiling heights on floors 2-6 and 10’ ceiling heights on ground and 7th Floor Low E double pane windows Selected suites feature balconies and terraces as per plan Virtual concierge service In suite sprinkler system Smoke and carbon monoxide detectors in each unit where required by Ontario Building Code. Closed circuit security cameras throughout parking garage and at access doors for added safety. Enterphone system in lobby vestibule for visitors to contact residences directly to gain admittance. Controlled door access throughout common areas with computer access key fobs. Personal remote transmitter for parking garage access provided with each parking space. Underground parking and locker storage with security cameras in the garage area along with parabolic mirrors in the underground parking areas. Heated parking ramp to prevent icing. Underground garage is ventilated and protected by a fire sprinkler system for added safety and protection. Fire safety system in accordance with the current Ontario Building Code for safety. Underground garage lit with fluorescent lighting and light painted walls. Wall mounted “panic” button installed in various locations throughout the underground garage. Waste management and recycling system with garbage tri-sorter chute access on each floor. Professional landscaped grounds on site property. Move-in area with direct access to elevator for convenience. 2 elevators servicing all parking and residential levels. UNIQUE SUITE FEATURES Solid core suite entry door with lever handle lockset, dead-bolt lock and guest viewer with metal frame and wood casings and paint finish. Contemporary laminate flooring in foyers, hallways, living room, dining room, kitchen, den and bedrooms from Vendor’s finish packages, including transitional strips in doorways as per plan. Interior doors with brushed nickel-finish lever hardware as per plan. 4’ baseboards with corresponding 2’3/4 casings painted with Vendor’s semi-gloss latex white paint. Interior walls and ceilings primed with off-white paint. Semi-gloss off white paint on all trims. Bathrooms, Kitchen and Laundry areas are painted with latex white semi-gloss paint. White painted smooth ceilings in all areas with Vendor’s standard white paint. White decora style switches and receptacles where applicable as per plan. Ceiling light fixtures in foyer and/or hallways, kitchen and dining room as per plan. Sliding closet doors or slab swing door in bedrooms and foyer as per plan. Poured concrete finish to all balconies; terraced units to receive patio pavers. Painted underside to all balconies. Outdoor balcony or terrace with one electrical outlet as per plan. Sliding glass doors or swing door to outside balcony or terrace as per plan. Aluminum awning windows as per plan. CHEF-INSPIRED KITCHENS Choice of contemporary style cabinets and quartz countertops from Vendor’s finish packages. Glass tile backsplash. Oversized single stainless steel undermounted kitchen sink. with single lever chrome pull down faucet with pull out spray. Exhaust fan in kitchen over the stove. Overhead lighting in kitchen. APPLIANCE PACKAGE Counter depth stainless steel bottom freezer fridge. Slide in stainless steel self-clean range. Built-in stainless steel dishwasher Full size stackable washer/dryer including heavy duty wiring and receptacle for dryer. Stainless steel microwave oven with exhaust over the range. *Size details to be added based on plan. BATHROOM FEATURES Custom designed cabinets from Vendor’s finish packages. Porcelain tiles for bathroom floors with ceramic tiles for bathtub and shower enclosures from Vendor’s finish packages. Acrylic soaker tub as per plan. Shower stalls completed with full height ceramic tile surround and semi frameless glazed shower door as per plan. Vapour proof ceiling mounted pot light over tubs and showers. White bathroom fixtures throughout. Single lever chrome faucets in vanity sink. Quartz vanity tops with undermount basins Vanity mirror and decorative light fixture. 2 Pot lights. Dual-flush, white ceramic water closet. Exhaust fan in all bathrooms vented to the outside. Privacy locks on all bathroom doors. Temperature balance valves for tub and shower. MULTI-MEDIA Pre-wired outlets for cable TV in living room, bedrooms, and den as per plan. Hi-speed internet connectivity in every suite. Telephone outlets in living room, kitchen, bedrooms, and den. Wi-Fi connectivity in selected amenity areas. MECHANICAL / ELECTRICAL / WASTE MANAGEMENT Dedicated heat pump unit(s) as per plan with a dedicated heated/cooling thermostat. Individual climate control suite heating and air-conditioning. Individual metering of in-suite electrical consumption. Domestic water meters dedicated for hot and cold water. Dedicated electrical meter. Pre-wired for personal encoded stand-alone intrusion alarm system. Suite equipped with emergency voice communication system. Switch controlled split outlets in living room and bedroom as per plan.* Electrical copper wiring with circuit breaker service panel. HOMEOWNERS LEVELS OF PROTECTION One year warranty on the workmanship and materials. Tarion Warranty Corporation New Home Warranty Protection, as per Tarion Guidelines. Manufacturer’s warranty on appliances.

All information, prices, terms and conditions subject to change without notice. E. and O.E.

 

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