Toronto Real Estate, Ontario, Canada

Town Home for Sale Lakeshore/Parklawn

Maureen Reed — Tue, 14 Feb 2012 20:18:00 GMT

• 4 bath, 3 bdrm 3 story - MLS® $789,000

Lakeshore/Parklawn, Etobicoke - Spacious Luxury Newport Beach Townhouse Lifestyle. Picturesque Lake Views Setting. Larger Sunlight Corner Unit, Many Windows, Open Concept Living/Dining W/9Ft Ceilings, Crown Moulding, Gas Fireplace, Circular Oak Staircase & Balcony. Family Room Walk-Outs To Patio & Park. Has Access To Private Underground Garage. Master Bedroom Boats Marble Ensuite W/Oval Jacuzzi Bath, 2 W/I Closets, Gas Fireplace & Juliette Balcony Overlooking Lake.

Fridge, Stove, Washer, Dryer, B/I Dishwasher, Microwave, Security System, B.I In Sound System, Cavac, High Efficiency Furnace, California Shutters Thru-Out, Lighting, Pot Lights

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Great Value - One Bed plus Den - close to subway

Maureen Reed — Tue, 14 Feb 2012 13:20:00 GMT

• 795 sq. ft., 2 bath, 1 bdrm single story - MLS® $275,000

Islington Village, Etobicoke - Large South Facing 795 Sq Ft 1 Bedroom + Den At Port Royal Place In The Heart Of Islington Village. Spacious Open Concept Living & Dining Area, Plus Large Den. Open Balcony. Ideally Located Steps From Islington Subway, Islington Village & The Kingsway Shops & Restaurants. Minutes To All Major Routes, Downtown & Airport. Amenities

Include: 24 Hr Concierge, Billiards, Party Room, Bbq Area, Virtual Golf, Underground Visitor Parking

Extras: Stove, Fridge, Built-In Dishwasher & Microwave, Washer & Dryer, All Elfs

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Dalesford Condo - Located Stonegate Queensway

Maureen Reed — Mon, 13 Feb 2012 19:32:00 GMT

• 1 bath, 1 bdrm single story - MLS® $324,900

The Queensway, Etobicoke - Elegant Boutique Condo Building 'The Dalesford'. Stylish 1 Bedrm Plus Den,9Ft Ceilings,735 Sq.Ft,Kitchen With Upgraded Cabinets& Granite,Impressive Roof Top Terrace,Gardens With Skyline Views, Gym With T V's,Party Rm,1 Parking Space And Storage Owned,Great Location,10 Mins To Downtown,Close To Hwy's,T T C,5 Min Drive To Bloor W Village,Shops And More!

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Condo For Sale in High Park-Swansea - close to the Lake

Maureen Reed — Wed, 08 Feb 2012 12:55:00 GMT

• 2 bath, 2 bdrm apartment - MLS® $448,000

High Parkdale, Toronto - Sweeping Panoramic Views Of Lake, City And High Park From Floor To Ceiling Windows In This Corner Unit. Open Concept Principal Rooms with Hardwood Floors And Walk-Outs To Wrap Around Balcony. Privacy Offered By A Split Bedroom Layout, With With Ensuite; Master Has Walk-Out To Balcony. New Never Lived In Unit; Modern Building With Great Amenities. Best Value In The Building

Staineless Steel Fridge, Flat-Top Stove And Dishwasher; Stacking Washer/Dryer. Amenities Include Indoor/Outdoor Pool, Fitness Centre Completewith Tennis Court And Basketball Hoop; Guest Suites, Party/Meeting Rooms; 24 Hr Security And Visitor Parking.

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TWO Story LOFT For Sale in South Etobicoke

Maureen Reed — Fri, 03 Feb 2012 17:47:00 GMT

• 2 bath, 2 bdrm single story - MLS® $483,900

South Etobicoke, Etobicoke - Luxurious 2 Bedroom 2 Story Loft In Desirable South Etobicoke. South West Exposure, Beautiful View Of The Lake. Professional Upgraded Brick Feature Wall. Upgrades Include: Granite Counter Tops, Undermounted Sink, Cupboards/Handles Throughout. Rare Unit, Only 5 Like It. 2 Car Tandem Parking Spot, Private Storage Locker. Washroom On Each Floor. Stainless Steel Appliances. Close To Hwy, Ttc, Mimico Go. Priced

Extras: Extras Included: Fridge, Stove, Bi Dishwasher, Washer/Dryer. Over 1000+ Sq Ft Living Space! All Furniture Negotiable. **Thousands Of $$$ In Upgrades!**

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Investor Paul Hecht on buying Canadian foreclosures for 50 cents on the dollar.

Maureen Reed — Mon, 30 Jan 2012 21:03:00 GMT

"Foreclosures are all across the country as banks need to liquidate these non-performing assets off their books. Take advantage of these amazing bargains and buy them at 50 cents on the dollar. Most banks will take what is owed on the mortgage or less. Find out how through our foreclosure subscription."

Sounds great doesn't it? This is actually a headline from a database subscription company offering to show you how to buy foreclosures for 50 cents on the dollar. Unfortunately it is a U.S.- based service. You won't see those kinds of headlines in Canada since the foreclosure process here is much different than in the U.S.

I've purchased homes directly from owners who are facing foreclosure as well as represented major Canadian lenders as a Realtor selling their foreclosures (otherwise known in the lending world as "non-performing assets"). I can tell you first-hand that once a lender has taken control of a property through foreclosure in Canada, buying a Canadian foreclosure is not as lucrative as in the U.S. This is mainly due to the way Canadian lenders are regulated on how they are allowed to dispose of their "non-performing assets." Understanding the foreclosure process and lender regulations will help you realize why.

Foreclosure is the legal right of a mortgage lender or other third-party lien holder to gain ownership or the right to sell the property and use the proceeds to pay off the mortgage, legal fees, commissions, court costs, utilities, etc., when the mortgage or lien is in default. The process is different in Canada because the laws in Canada are different.

The way a mortgage or lien holder gains ownership after default varies from state to state in the U.S. as well as province to province in Canada. In Canada, there are two main methods that a lender can use. Without getting too far into the technical details, the first involves the lender taking title to the property and then selling it. The other allows the lender to control the sale of the property through a court order without having title.

Generally speaking, U.S. and Canadian banks want their "non-performing mortgages" off their books so that they can lend out their money again and collect interest from performing loans. They are not interested in becoming landlords or flipping property.

The lender's goal is to get back what they have lent out on the mortgage plus legal fees, commission, court costs and expenses. The objective is the same whether in the U.S. or Canada - to get their money earning interest again.

However in Canada, a lender must protect the homeowner's equity. Therefore, the lender must attempt to obtain fair market value. Herein lies the major difference. Regardless of how the lender goes about selling the property or what is owed on the property, under the Canadian Securities Act a lender is mandated to achieve fair market value. Therefore, buying direct through the lender's backdoor at a huge discount from residential lenders in Canada is unheard of.

The typical process a lender takes is to initially phone the borrower if a mortgage payment has been missed. If after 30 days, the lender still does not receive the mortgage payment, the lender's lawyer will send a Demand Letter stating that because the borrower is in default and has not made payment, they must now pay off the entire mortgage balance.

If the mortgage is not paid off immediately, the lender's lawyer will start the foreclosure process. At this point, the homeowner has a redemption period in which they can either refinance or sell the property to pay off the outstanding mortgage plus legal fees and interest, even though the foreclosure process has already started. The redemption period is typically six months during which the owner still retains control of the property.

Once the initial redemption period is over and depending upon the province, the homeowner or any other lien holder may request an extension of the redemption period of up to six additional months. If the homeowner has ample equity and acting cooperatively, the court will often grant the extension. If the homeowner has very little or no equity then the redemption period is not extended and the lender takes control through either a Final Order (becomes the owner) or by Conduct of Sale (takes control of the sale).

Once the lender has control either way, they hire a Realtor who provides the lender with a comparable market analysis. The lender also obtains an independent appraisal. The lender will often use the appraisal and set the asking price at or close to the appraised value.

Since the lender is mandated to get fair market value, they must prove in court that the home was properly marketed and seen by enough potential buyers to achieve a final accepted offer. A lender cannot accept an offer that is substantially lower, especially in the beginning, as there will not be enough proof that the lender attempted to obtain fair market value. As time passes and based on showing and market activity, the lender may lower the asking price every two to six weeks.

As the lender reduces the price, many buyers wait for the price to go even lower. Unlike many sellers, a lender will continue to reduce the price on a foreclosure until they get an offer. However, eventually the price is ripe enough that someone will make an offer. Depending whether the lender is the title holder or conducting the sale through a court order determines whether the offer requires court approval, or not.

If the lender has title, then no court approval is required. Therefore, once an offer is accepted and the buyer removes their conditions, the sale is final. If the lender is conducting the sale through a court order, an offer is accepted, the buyer's conditions are removed and then a court date is set for final court approval. The major difference is that other buyers can make unconditional offers at court and outbid the initial buyer. Therefore, understanding the way the lender has foreclosed is important when making an offer.

Since Canadian lenders have to ask fair market value and use a Realtor to sell the property, paying for a subscription to Canadian foreclosures in your area is a complete waste of money as you can get that information from any local Realtor for free.

If you want more information about buying Canadian foreclosures in your area, start by Googling the Canadian Bar Association for the correct legal facts about your provincial foreclosure laws. For foreclosure listings, ask a local Realtor to set you up on an automated email list of new foreclosed homes as they come onto the market.

As an investor, some of the best deals in Canada are made during the redemption period when the seller still has control. That's not to say that you cannot get a great property at a great price once the bank controls the sale either. However, foreclosures at 50 cents on the dollar are not likely in Canada anytime soon.

Condo For Sale in Humber Bay - Voyager

Maureen Reed — Mon, 30 Jan 2012 17:04:00 GMT

• 2 bath, 2 bdrm single story - MLS® $564,800

Humber Bay, Etobicoke - Welcome To The Voyager On Lake Shore! Views Of The Toronto Skyline And The Lake From 3 Separate Balconies; Pure Enjoyment! All The Comforts You Are Searching For; Granite Countertops, Hardwood Flooring, Custom Cabinetry In The Closets, Ceramic Tile Entranceway, Crown Moulding And 9Ft Ceilings. A Must See! ...Steps To Walking Trails, Minutes To Downtown With An Amazing Restaurant Just Steps Away. A Must See!

Extras: All Beautiful Light Fixtures, S/S Fridge, Stove, B/I Dishwasher, Custom Closet Organizers, Separate Tub/Shower In Master And Semi-Ensuite To 2nd Bedroom, Grand Spacious Entranceway Into The Condo, 2 Walkouts To 3 Balconies

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Bungalow For Sale in Rexdale

Maureen Reed — Mon, 23 Jan 2012 20:39:00 GMT

• 1 bath, 3 bdrm single story - MLS® $379,900

Rexdale, Etobicoke - Large,Sunny 3-Level Backsplt On Quiet Street Lined With Flowering Crabapple Trees.Family-Oriented Kipling Heights. Spacious House Features An Addition(1968), Prof Landscaped Grdns,Newly Refinished Hdwd Flrs Thruout(2011),Kit W/Tons Of Cupbrds,W/O To Huge Backyard,Breakfast Rm..Updated Bthrm(2011).3 Bdrms.Spacious Rec Rm(Now Being Used As A Sewing Rm.Just Move In&Add Your Personal Touches) Close To Shopping,Schools,Ttc,Maj Hwys Dishwasher(2012),Fridge,Stove,Washer&Dryer,Grdn Shed.Excl:Freezer,Wine Bottle Holders In Wine Cellar/Cantina,Small Maple Leafs Fridge&Wdw Coverings In Mstr&2nd Bdrms.Landscaping(2010),Water Tank Owned.Other Rm Is Crawl Space.

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Home Renovation Bedroom design ideas to create a Beautiful Master Bedroom

Maureen Reed — Mon, 23 Jan 2012 19:34:00 GMT

The lack of a master bedroom can be a sticking point for both buying and selling a home. Many older style homes do not have a master bedroom and as a result many home owners are looking for bedroom ideas for home renovation projects to give their home a new look and feel.

Adding a master bedroom or expanding your current bedroom will give you the luxurious and spacious bedroom that you have always wanted. There is no shortage of bedroom ideas that homeowners can implement.

The following are a list of home renovation bedroom ideas and designs homeowners can and have implemented in their homes. These will not only give you the bedroom you have always dreamed of, it will also be a great selling feature and increase the value of your home if you choose to sell in the future.

Walk-in closets: Adding a walk in closet is a very attractive feature for any bedroom. Having that extra closet space makes a huge difference, especially for those that have a large wardrobe.

Additions: To add a master bedroom to your home, many homeowners are expanding their homes through construction additions. This way they can control the exact construction and size of the master bedroom and can customize it anyway they want.

Add a fireplace: Enhance the overall look and feel by adding a fireplace to your bedroom. This will give your bedroom a unique look and will definitely come in handy during the winter months.

Sliding doors: Depending on the set up of your home, you may have the ability to add a sliding door off your master bedroom that can access your back deck or patio.

Ensuite bathrooms: Probably the most popular bedroom idea is adding an ensuite bathroom. This renovation project is very flexible. His and hers sinks and vanities are popular, as are separate tubs or showers. Incorporate some fun by adding things like a jetted tub or heated towel racks. If you have the space to spare, the possibilities are endless.

Create a nook: Master bedrooms with extra space allow homeowners to create a unique space within their bedroom. Turning a corner of your bedroom into a reading area can be great to help you relax, especially if you don’t have the room for an attached living room.

Homeowners can do a lot with a little expendable income, sometime for a home renovation project, and the space to do it.

5 Home Security and Safety Tips for Seniors

Maureen Reed — Mon, 23 Jan 2012 19:33:00 GMT

As of last year, the average lifespan of Canadians hit 80.4 years of age. That’s almost 10 years longer than 20 years ago, when the average lifespan of a Canadian in 1991 was 70.9 years of age. Unfortunately, the state of elder care in Canada isn’t the greatest - with long wait times for care. Older Canadians may not always have nearby family or friends who are able to check on them, so increasing the security for your home is key to home safety.

Be aware. Scams that prey on seniors are extremely popular with crooks. Some ways to increase your home safety is to check the identification of anyone you let into your home who isn’t a friend or family member - whether they are a repairman or door-to-door canvasser. Never give your SIN number or any personal information to these people, even if they’re offering prizes or money. If they say you’ve won a contest, check with their employer to be sure.

Lighting. Increasing your outdoor home lighting can instantly increase your house security. Motion detector lights are easy and inexpensive to install outdoors for dark, hard-to-see locations such as driveways, and your outdoor porch lights should be left on at night to deter burglars.

Security systems. Many house security systems are available complete with great features specifically for seniors. These features include calling for help in case of a fall, allowing you to remotely arm the system from anywhere in the home and keeping you safe by arming your doors and windows while you’re sleeping. Choose a house security system that covers fire, floods and burglary so that the proper authorities are alerted during any problems.

Schedule check-ins. Scheduling regular check-ins is a vital component of home safety for independent seniors - ensuring someone checks on you regularly to make sure you’re okay. A check-in can be as simple as having a friend or family member call you once a day to chat.

Lock your doors. Always keep your windows and doors locked when not in use, even doors leading from the basement and garage, to increase your house security. Make sure your locks are in good condition and can be opened from the inside in case of an emergency

The Top Renovation Projects That Yield Most Return on Investment

Maureen Reed — Mon, 23 Jan 2012 19:30:00 GMT

There is no doubt that homeowners want to get the biggest return on their investment (ROI) when they decide to sell their home. You can easily increase your home’s value by performing a few renovations.

These renovations can vary widely depending on the type of home that you have and the amount of money you are willing to spend to boost the appeal and value of your home.

Even the slightest amount of change to your home will help. It is a consensus among real estate agents that renovations prior to selling your home absolutely impacts your return on investment. However, there are definitely some renovation projects that will be more fruitful than others.

Focus on the outside first

Over the past few years there has been a growing trend in the housing market. Homeowners, who invest in exterior renovation projects have seen a greater return that interior renovations.

Therefore, homeowners need to take a careful look at the exterior of their home and seriously consider some of the options they have. What can you do to improve the overall look of your home?

Does your driveway need to be redone?

Do you need to do some landscaping?

Does the deck need to be refinished?

Does the house need to be painted?

Does the roof need to be replaced?

Surprisingly, one of the best things homeowners can do to improve the exterior of their home and experience a good return on their investment is to replace their doors.

In particular, many homeowners are replacing their front door with a steel entry door. This alone will recoup more money than homeowners paid for the renovation project.

There are also a number of other outdoor renovation projects that are definitely worth their while. They include:

Replacing or painting your garage door

Replacing aged siding

Replacing old wood windows with more modern and efficient windows

Interior investments that will provide ROI

When it comes to interior renovations that will help improve your home value, creating additional space is one of the most popular. Potential buyers want homes that are finished. They want finished basements and attics so they can maximize the amount of space they have in their home.

But beyond this, there are a number of renovation projects that will all have a positive impact on your ability to sell your home:

Painting: One of the least expensive renovation ideas, painting will yield probably the most significant return on the investment. Painting your home with fresh and vibrant colors will completely transform its look.

Adding a fireplace: A fireplace is one of the most sought after entities in homes today. And, for a reasonable price, you can easily add one to your home and increase its overall value.

Bathroom upgrade: Modern and sleek looking bathrooms are a great selling feature. While the project will be fairly expensive, it is definitely worth the investment.

Kitchen upgrade: Kitchens sell homes. Therefore, if you either have an older style kitchen or really want to give your home that wow factor, consider a kitchen renovation. While it will be costly, it has one of the best ROI in terms of renovation projects. And, you can do as little or as much as you want. Kitchen renovation projects have many options.

Window replacement: Replacing your windows is a practical project because of the amount of money they can save in terms of energy costs.

These are only a few of the many renovations projects that can be done to improve your home’s value. However, before embarking on any project, it’s always a great idea to check with your real estate agent to see if the renovation will yield a good return on investment in your housing market.

Condos For Sale in Islington Village

Maureen Reed — Wed, 18 Jan 2012 16:33:00 GMT

• 795 sq. ft., 2 bath, 1 bdrm apartment - MLS® $284,900

Islington Village, Etobicoke - Large South Facing 795 Sq Ft 1 Bedroom + Den At Port Royal Place In The Heart Of Islington Village. Spacious Open Concept Living & Dining Area, Plus Large Den. Open Balcony. Ideally Located Steps From Islington Subway, Islington Village & The Kingsway Shops & Restaurants. Minutes To All Major Routes, Downtown & Airport. Amenities Include: 24 Hr Concierge, Billiards, Party Room, Bbq Area, Virtual Golf, Underground Visitor Parking

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Staging your Home for a Virtual Tour

Maureen Reed — Tue, 10 Jan 2012 14:14:00 GMT

Selling your home has changed substantially over the past decade. The internet has changed not only the real estate market but also how people buy and sell homes.

More and more people are turning to the internet as the primary means to look for homes. While many people still rely on traditional real estate methods such as listing their home and open houses, they are also using new technologies to help sell their home.

In additional to posting photos of your home online, many people are now using virtual tours. A virtual tour shows buyers a 360-degree view of the interior of a home. Buyers can get a better sense of what a home looks like without having to actually go see the home.

This is a great benefit for buyers that are looking to buy a home from a remote location. Buyers can narrow their home search conveniently from their personal computer before going in person to see a home.

With a new approach to selling your home, homeowners have to take a new approach to staging their home and preparing it for potential buyers. Potential buyers sort through hundreds of photos and now virtual tours add another element to the process. Therefore, it is important to understand how your home looks in photos online.

Tips for staging your home for a virtual tour

Staging your home is very similar to preparing for an open house. You want to have your home looking its best and in prime condition. Follow these tips and you will definitely garner some interned for buyers once they take the virtual tour of your home:

Get rid of clutter: Nothing will prevent people from coming to see your home more than removing excess stuff in your home. Donate anything you don't want.

Have proper lighting: Lighting will impact the quality of images you post online. Make sure your lighting is right so people can get a clear view of your home.

Focus on quality: High quality digital photos are a must. Use a digital camera to take your photos and set up your virtual tour

Highlight main selling features: Don't waste photos on things that will not help sell your home. For on taking photos of rooms and items that buyers are looking for in a home.

Have a unique perspective: Try and take photos from a unique point of view. Avoid cookie cutter photos. Spice things up and get buyers excited to come and see your home.

FREEHOLD Townhouse For Sale in Altona - SOLD

Maureen Reed — Fri, 25 Nov 2011 13:03:00 GMT

• 2 bath, 3 bdrm townhouse "2 storey" - MLS® $299,900

Altona, Pickering - Beautiful maintained FREEHOLD townhome with 3 bedrooms & two washrooms. Gas fireplace in living room. Eat-in kitchen with walk-out to deck. Skylight above stairs. Second walk-out to beautifully landscaped garden with shed. Loads of upgrades including New Enclosed Porch 2010, New Deck 2011, New Shingles 2011, Kitchen updated with new stainless steel appliances 2009. Walk to Altona Forest Trails, Rouge Park Trails & Chickadee Park. Close to highway 401.

Includes: fridge, stove, microwave, washer, dryer, all electric light fixtures, garage door opener, all broadloom where laid, furnace & equipment & central air.

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2 Story Loft For Sale in South Etobicoke - SOLD

Maureen Reed — Wed, 09 Nov 2011 21:47:00 GMT

• 785 sq. ft., 2 bath, 1 bdrm 2 story - MLS® $329,900

South Etobicoke, Etobicoke - Two storey condo that’s seldom available with one bedroom and large den. $20,000K in upgrades. From the top of the ceiling right down to the beautiful hardwood maple floors this home has been upgraded beyond belief with the Eurostyle kitchen cabinetry from Scavolini, Italy’s leading name in kitchens. All the details have been covered with the quartz countertops, pull-out spray faucet, glass backsplash, stainless steel range hood, rainfall shower head and two body spray fixtures, upgraded doors and handles and floor tiles, frontloading washing machine and electric dryer just to name a few. WALK TO SUBWAY. Includes: one parking space and locker.

On the seventh floor of the building awaits the Kingswood Club, a private and thoughtfully designed exercise room featuring men’s and women’s showers and change rooms, and a full range of state-of-the-art fitness equipment. Also available is the party room, games room, concierge and a 7,000 sq ft landscaped terrace.

This eleven storey condominium sits along Bloor with its fashionable shops & restaurants. Conveniently located within walking distance to subway and major highways are easily accessible with Downtown Toronto just minutes away.

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