Thursday, 13 April 2017

Recent Toronto Skyscraper and Condo Construction

Here are a few condo projects, I've seen while walking around Toronto well start in southcore and move around the city in the next few posts.

Beginning in Southcore here are a few projects that are underway. 

This threeway shot includes - Ten York, Ice Condos and the new constructed One York Office tower the new head office of Sun Life Financial. Cool shot, let me know what you think in the comment section.
















This shot is looking down York Street, in the heart of Southcore, the crossing street is Bremner Blvd which was built through the redevelopment of the rail lands south of the main financial core of the city. . Ten York under construction in this shot, with Ice Condos in the foreground.








































Continuing through the Southcore District we can take a stop and a glance at Harbourplaza Condos by the Menkes development firm.























Moving north we arrive at Front and Yonge Street. Here we can see the 88 Scott project which is nearing completion. By the looks of things this tower should be finished at the end of this year (2017) its possible it may go into early 2018. We'll see.




















One bloor a massive condo in the Yorkville district of Toronto - Walking here at the corner of Yonge and Bloor Street.





















One Bloor from Bay and Bloor - Condo Alley




















Even further north at Yonge and Eglinton - we will run into E Condos a massive joint project between Plaza-Corp/Bazis and RioCan

















I'll put in another update shortly. - Hope you guys enjoyed.

Wednesday, 22 February 2017

Toronto Condo Bidding Wars Make Appraisals Difficult Says Condo Specialist Casey Ragan

TORONTO, ON--(Marketwired - December 12, 2016) - Toronto condo and loft specialist Casey Ragan, a sales representative with RE/MAX Hallmark Realty Ltd., Brokerage, and owner of the Toronto condominium real estate website (www.TheCondoLife.com), says that bidding wars are making it hard for realtors to appraise Toronto condo and loft properties with accuracy. According to Ragan, condo bidding wars, now commonplace in the frenzied Toronto loft and condominium market, are driving up prices across the city. And, rapidly escalating condo prices are making it difficult to place a precise value when appraising lofts and condominiums for sale. "Toronto continues to be a strong buyer's market, with condo prices hitting new highs each month. With prices reaching new levels monthly, setting a condo's value using the most recent comparable sales (units sold within the last 90 days), no longer gives an accurate picture, and a price that is in-line with current price offers," states Ragan.
"The Toronto loft and condominium market has been going strong for several years now, with no sign of slowing down. This year has been the busiest ever, with units selling almost as fast as I can show. With more buyers in the market than there are listings, increased demand for Toronto condos and lofts is pushing prices ever higher. Major factors that are contributing to the buying frenzy include immigration, low inventory, a weak Canadian dollar, and people buying before new mortgage rules make it more difficult for many Canadians to purchase a home," reports Ragan.
"The new mortgage rules, which come into effect on Oct 17, 2016, will require all high-ratio mortgages to qualify for 5-year mortgages using the Bank of Canada's qualifying rate (currently set at 4.64%), instead of the actual (much lower) mortgage rate. This means that buyers with a down payment of less than 20% must now qualify for a more expensive loan, even if they don't have to make higher payments. The new rule will prevent some buyers with low down payments from qualifying for the home they want and delay some first-time buyers from entering the market. There are some who predict that the new rules will cause Toronto housing prices to tumble. While, initially it may cause a few ripples, there are just too many other factors at play to slow the market. If anything, Toronto condominiums will be more popular than ever, with the average price of a single detached home in Toronto is 1.2M, Toronto condos are still a relative bargain and much more affordable for first-time buyers who want a home in the city," claims Ragan.





Monday, 20 February 2017

Ten York

Update


ronto realtors Franco Dinatale & Alex Moloney, condo specialists with Right At Home Realty Brokerage Inc.'s Toronto Condo Team, explain why, in spite of recent and upcoming government interventions, the Toronto condominium market is still going strong, and GTA condos remain an affordable option for most first-time home buyers
TORONTO, ON--(Marketwired - November 28, 2016) - According to Franco Dinatale & Alex Moloney, Toronto condo and loft specialists with Right at Home Realty Brokerage Inc.'s Toronto Condo Team (www.TorontoCondoTeam.ca, recent government tax and mortgage measures that were introduced to take pressure off Toronto's red-hot housing market have had little effect on Toronto condominium sales. "To date, we have seen little to indicate that recent government interventions have caused condo sales to slow or prices to drop. If anything, there has been a jump in Toronto condominium sales, as many non-residents condo buyers are now investing in Toronto instead of Vancouver due to B.C.'s 15% foreign buyers tax. While there may be some first time buyers who will be turned down for a mortgage or only receive approval for a lesser amount because of more stringent stress testing, there are plenty of other buyers out there to fill the gap. Toronto condos are still an affordable option for first-time home buyers," reports Dinatale.
In addition to the new mortgage rules, which came into effect on Oct 17, 2016, the Federal government has also closed a tax loophole that some non-resident buyers had been using to avoid paying capital gains on properties they had sold in Canada by claiming that the property was their primary residence. The last measure to be introduced by the government to help slow down the housing market comes into effect on November 30, 2016. On that date, eligibility requirements for low and high ratio insured mortgages will be streamlined. Mortgage loans that lenders insure using portfolio insurance and other discretionary low loan-to-value ratio mortgage insurance must meet stricter criteria previously only applied to high-ratio insured mortgages. Both high and low-ratio insured mortgages now must have a minimum qualifying credit score of 600 and a maximum amortization period of 25 years. The new rules will also apply to mortgage renewals.
"Canada's Finance Minister Bill Morneau has stated that the federal government will continue to monitor the housing market but has no plans to introduce any further measures. We'll just have to wait and see whether the new stricter mortgage requirements coming in at the end of the month will have any effect on the Toronto condominium market. Personally, I don't think we will see any downward pressure on condo sales because of these measures. There are just too many buyers in the city, and I don't see that changing in the foreseeable future. Every month, thousands of new people move into Toronto needing a place to live, and there is a shortage of all types of housing. And, although interest rates are low, the average price of a detached home in Toronto is now well over $1M and out of reach for many buyers. As detached home prices continue to rise, Toronto condominiums will remain an affordable alternative for those who want to own a home in the city and a sound investment," explains Dinatale.
About Right at Home Realty Brokerage Inc. Toronto Condo Team: Find the ideal condo, loft, or townhouse in Toronto with the Right Home Realty Brokerage's Toronto Condo Team. Specializing exclusively in marketing and selling Toronto condominium properties, the Toronto Condo Team know the Toronto condominium market inside and out. They are knowledgeable real estate professionals with years of experience helping buyers find the GTA condo that best suits their needs, and working with sellers to get top dollar for their condo sale. Browse through hundreds of condo listing on their website www.TorontoCondoTeam.ca, with a powerful database that matches buyers with condos for sale and condos for rent through refined search. Whether you are buying, renting, or selling, you can trust the Toronto Condo Team for all your Toronto real estate needs. For more information call 416-800-0767, or email info@torontocondoteam.ca.

CONTACT INFORMATION

Sunday, 19 February 2017

Ten York

Update

Wellesley on the Park

Update


Toronto Condo Realtor Reports Demand is Outweighing Supply

Casey Ragan, a Toronto realtor and owner of The Condo Life.com, reports that, throughout 2016, the demand for Toronto condos in every price range has far outweighed supply
TORONTO, ON--(Marketwired - November 28, 2016) - Casey Ragan, Toronto's Condo Authority and owner of www.thecondolife.com, notes that Toronto's condo market shows no signs of slowing down anytime soon. The condo and loft market in Toronto have been going strong for several years, and 2016 is shaping up to be the most active year yet.
"In 2016, units are selling almost faster than I can show them," states Casey Ragan, "Sometimes condominiums and lofts in some of the most popular locations are shown the same day as they are listed, or they are sold before the following day."
Next to Vancouver, Toronto has the hottest real estate market in Canada, with no signs of cooling down. Condos and lofts have proven to be one of the city's fastest rising commodities. With a limited supply and growing demand, these units are moving quicker than most realtors had been expecting.
"There are so many buyers in the market and not all that much inventory," adds Ragan, "We see this across all price ranges too - the demand isn't just in the price sensitive market, but also for luxury condos in Toronto."
The largest city in Canada, Toronto is also the country's major business and cultural centre. There has always been a high demand for residential real estate in Toronto and prices reflect this. The rising cost of residential homes in Toronto has led more people to consider townhome, and especially high-rise condos and lofts, which have quickly become the fastest growing residential real estate segment in Toronto.
Will the rising demand for Toronto condos and lofts continue to push the price of condos higher, or will it begin to subside? For now, Toronto condo realtors see no indication that the market will slow down anytime soon, and predict only growth for the months to come.
About Casey Ragan and TheCondoLife.com: Toronto's Condo Authority, Casey Ragan, is a sales representative with RE/MAX Hallmark Realty Ltd., Brokerage, and one of the most sought-after condo and loft specialists in Toronto. With years of experience working with buyers and sellers ranging from entry level units to million dollar luxury suites in some of Toronto's most exclusive neighbourhoods, Ragan's objective is to ensure that each client gets his personal attention and the benefit of his experience, honesty, and commitment to detail. Always on top of market conditions, Ragan has an eye for finding great value in very heated market conditions. TheCondoLife.com offers the latest in condominium and loft market intelligence and trends that are the underpinnings in determining value equation as it relates to resale and new condo purchases. For more information about Casey Ragan and the Toronto condominium and loft market, visit www.TheCondoLife.com or call 416-486-5588.

CONTACT INFORMATION

Saturday, 18 February 2017

88 Scott

Update

Teahouse Condo Excavation

Update


Toronto Condo Realtor Reports Demand is Outweighing Supply

Casey Ragan, a Toronto realtor and owner of The Condo Life.com, reports that, throughout 2016, the demand for Toronto condos in every price range has far outweighed supply
TORONTO, ON--(Marketwired - August 30, 2016) - Casey Ragan, Toronto's Condo Authority and owner of www.thecondolife.com, notes that Toronto's condo market shows no signs of slowing down anytime soon. The condo and loft market in Toronto have been going strong for several years, and 2016 is shaping up to be the most active year yet.
"In 2016, units are selling almost faster than I can show them," states Casey Ragan, "Sometimes condominiums and lofts in some of the most popular locations are shown the same day as they are listed, or they are sold before the following day."
Next to Vancouver, Toronto has the hottest real estate market in Canada, with no signs of cooling down. Condos and lofts have proven to be one of the city's fastest rising commodities. With a limited supply and growing demand, these units are moving quicker than most realtors had been expecting.
"There are so many buyers in the market and not all that much inventory," adds Ragan, "We see this across all price ranges too - the demand isn't just in the price sensitive market, but also for luxury condos in Toronto."
The largest city in Canada, Toronto is also the country's major business and cultural centre. There has always been a high demand for residential real estate in Toronto and prices reflect this. The rising cost of residential homes in Toronto has led more people to consider townhome, and especially high-rise condos and lofts, which have quickly become the fastest growing residential real estate segment in Toronto.
Will the rising demand for Toronto condos and lofts continue to push the price of condos higher, or will it begin to subside? For now, Toronto condo realtors see no indication that the market will slow down anytime soon, and predict only growth for the months to come.
About Casey Ragan and TheCondoLife.com: Toronto's Condo Authority, Casey Ragan, is a sales representative with RE/MAX Hallmark Realty Ltd., Brokerage, and one of the most sought-after condo and loft specialists in Toronto. With years of experience working with buyers and sellers ranging from entry level units to million dollar luxury suites in some of Toronto's most exclusive neighbourhoods, Ragan's objective is to ensure that each client gets his personal attention and the benefit of his experience, honesty, and commitment to detail. Always on top of market conditions, Ragan has an eye for finding great value in very heated market conditions. TheCondoLife.com offers the latest in condominium and loft market intelligence and trends that are the underpinnings in determining value equation as it relates to resale and new condo purchases. For more information about Casey Ragan and the Toronto condominium and loft market, visit www.TheCondoLife.com or call 416-486-5588.

CONTACT INFORMATION