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Hi All,

Your advice would be greatly appreciated. I have the opportunity to buy a 2bed, 2bath unit @ Murano privately. Here are the details:

Aprrox 750 sq ft. Pezzati Model

20th floor, north facing.
2 bed
2 full bathroom
Stainless steel appliances
Granite counter in kitchen
Laminate in living/dining
Carpet in bedroom
Balcony
Parking + Locker


Here is a link to the same model unit.

http://urbanrealtytoronto.com/wordpr...murano-condos/

My question is...how much is this unit worth? Tough to gauge as the building is yet to be registered. I'm guessing something in the 410k range.
What do you all think?

Greetings everyone,

Looking forward to doing a couple of assignments w/Cresford at BSN and Casa. We've successfully completed multiple assignments before with builders such as Lanterra and Concord with no problems.

Had anyone has had specifc Cresofrd experience? if so let me know their process and how it went.

With Lanterra it's a simple streamlined process that could not have been made easier and the service and personal attention was worth every penny charged.

Thanks,

Yossi

I saw a 1 bedroom condo(loft style 12 feet ceilings) unit today with a bedroom that was really just like a nook, open space shape

It was shaped in between to other walls. The area had a closet, but had no real door, door frame etc.

The unit is considerd a 1 bedroom , do I need anything special to essentially just finish the wallks and build a door and doorway?

Im assuming some kind of permits are needed, where does someone learn about this?

Do people just not do it and dont tell anyone?

I am looking at spending 300-400k tops.

Looking for a 2 bedroom,. Yonge/401 - sheppard or bayview/401 - sheppard.


I am looking at brand new, 1-2 year wait time is fine with me. Can anybody refer me to anything nice?

Thanks

Toronto home prices to keep rising

November 3, 2009

Tony Wong

BUSINESS REPORTER

Toronto housing prices will continue to rise next year by as much as 5 per cent, according to a forecast by the Canada Mortgage and Housing Corporation.

Although price growth will slow, buyers looking for relief from the tight markets of 2009 will face another year of rising home values. The forecast said the average price of an existing home at the end of 2010 will be $412,000, compared with $392,540 by the end of this year.

The 5 per cent growth forecast is in line with the average annual increase for the decade.


The growth, the federal housing corporation said, will be fuelled by the sales of more single-detached housing. For the first time since 2006, low-rise homes will account for the majority of sales in the GTA this year and next, according to the forecast.

"With low interest rates people are buying more house or going to nicer neighbourhoods, which is helping average prices move upward," said Shaun Hildebrand, senior market analyst at the CMHC.

Even though prices and listings will move higher, sales for 2010 are actually expected to be down by 4.9 per cent as the market cools.

Sales this year are expected to surpass 2008 figures by 7.3 per cent.

"As the stimulative increases in demand becomes satisfied and market conditions begin to reflect underlying economic fundamentals, sales will slow in 2010," says Hildebrand.

"Affordability will moderate slightly next year, but will remain in check due to slow price growth and incremental interest rate increases."

This year the market has been characterized by a lack of listings, down by 17 per cent overall for the year compared with 2008, which has placed upward pressure on prices.

"A sense of uncertainty remains amongst sellers who will wait for the market to show signs of stability before putting their home on the market," the forecast said.

That should change next year when listings are forecast to go higher by 11 per cent as move-up buyers gain confidence in an economic recovery.

"This will bring the market into balanced territory next year," says Hildebrand.

While sales of single-detached homes have done well, the popular condo market seems to have fallen out of favour, at least in the short term.

A tougher selling environment for high-rise homes is expected to see a sales decline of 23 per cent this year, the lowest level since 2003.

"Construction delays and a heightened sense of uncertainty regarding new condominium projects this year has turned buyers away from pre-construction projects," says the CMHC.

"At the same time, less project launches have created fewer new options for buyers."

Improving youth employment and a shift toward lower-cost housing should see high-rise sales increase by 17 per cent by the end of 2010, according to the CMHC forecast.

The forecast also said weak employment within the key 25-44 age group of first-time home buyers will have an impact on the overall demand for Toronto home purchases next year.

However, continuing low mortgage rates should help keep the market going.

Posted rates should gradually increase in 2010 with a one-year rate expected to be in the 3.5 to 4.25 per cent range. A five-year mortgage rate should be in the 4.5 to 6 per cent range.

http://www.yourhome.ca/homes/realest...to-keep-rising

I hear a lot of talk about people using flat-fee listings in these forums but can't seem to find a reliable one for myself.

Does anyone know of such a service in Ontario?

I've been gung ho on the housing and especially the condo market in Toronto for about the last 6 years, but in the past few months I've seen some alarming trends that seriously suggest a massive bubble is being created that'll explode as soon as interest rates increase and/or the supply of condos goes through the roof in the next 17 months. The article below deals with some of the problem, but the 8% increase in home debt during a recession is also worrisome. What's your take?

http://www.movesmartly.com/2009/11/t...nths.html#more

If you had up to $5 million to spend on one unit within Toronto, which building (constructed or under construction) whould you buy into and why? Please be as detailed as possible as to why you have made your choice (e.g. location, unit size, exposure, amenities, property management, maintenance fees, etc.)

If you hate condos, please refrain from responding.

This is an interesting article I found this morning. It looks like the Competition Bureau doesn't like the way CREA is conducting some business. Should be interesting to see the results in time.


http://www.yourhome.ca/homes/newsfea...r-realty-costs



Watchdog opens door to lower realty costs
November 2, 2009
Tony Wong

Canadians in the housing market will pay less in realty commissions and fees if the federal Competition Bureau has its way.

In a landmark investigation, the bureau has concluded the Canadian Real Estate Association has anti-competitive rules and must change its ways, according to documents obtained by the Star.

Details of a settlement have yet to be decided, but the bureau's findings are expected to have a profound impact on the real estate industry – by permitting more innovative discount brokers into the market while allowing sellers to list their properties less expensively on the Multiple Listing Service.


See link for the rest of the article.