Archive for July 2018

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Cottage Dreams: Soyers Lake, Haliburton

 

Soyers Lake – Located on Soyers Lake, part of Haliburton’s 5 lake chain & only minutes to town w/ hospitals, restaurants, & plenty of shopping. 138 feet of frontage w/ sunny south exposure, incredible big lake views, & deep clean water. The landscaping takes advantage of the lot creating different spots to enjoy; the permanent waterfront deck, watch the kids play on the flat usable space, or sit in the shade on the stone patio. The lot is very private w/ matured trees on either side & both easy access from the road and from the home to the waterfront. This spacious 3 bedroom, 3 bathroom home’s main level has a bright kitchen, formal dining room, large sun room w/ walkout to large deck & a spacious living room w/ wood burning fireplace. Main level master w/ view of the lake, walk in closet, and large ensuite w/ Jacuzzi tub, guest bedroom, 3 piece, and laundry. The lower level has a games room, media room, guest bedroom, 3 piece bath, bedroom & office. Tons of storage & 3 bay garage.

July is National Ice Cream Month

July 15, 2018

President Ronald Reagan signed the proclamation making July National Ice Cream month in July 1984. Ice cream brings up many childhood memories for me. I had the great fortune of being born to a Mother and Father who both loved ice cream. Many Friday nights found us at a family favorite Matlack’s, restaurant style ice cream parlor near my hometown that served baskets of pretzel sticks with their bowls of ice cream, or a summertime drive down to Dredge Harbour

Soft Serve ice cream near the river in my hometown, or my Mother bringing home a quart of her favorite hand-dipped Butter Almond or Chocolate or Mint Chocolate Chip for us to share.

 

One adult memory of ice cream surrounds my friend and former boss, Kris Weston. Kris was in palliative care and actively dying at a hospital near Yonge and Bloor. She was a real-life “Sex in the City” character. She also was surrounded by a coterie of single professional women of a certain age who were her support team. They were all there visiting one evening and when leaving to have dinner nearby, someone asked her if she wanted anything.

“Häagen-Dazs Dulce de Leche Ice Cream”, was the response.

When they returned, they told us that Pusateri’s in Yorkville didn’t have that flavour, so they were sending a pint down from the Pustateri’s on Avenue Road north of Lawrence in a taxi. (“Who does that?”, I thought.)

Sure enough, after they left the cab driver arrived at the hospital room door with the pint of ice cream. I paid him $20 or $25 + tip for delivering it.

Kris savoured her ice cream, enjoying every spoonful. She died three days later.

Toronto has many ice cream choices waiting for you to make your own summertime memories. I’ve sampled all of them. All highly recommended.

– Chip Barkel, MCNE, SRES, REDM, Toronto Real Estate. Extraordinary Service. Top Results. 

June 2018 Toronto Real Estate Market Report

June 2018 Toronto Real Estate Market Report

Nasty year-over-year comparisons came to an end in June. For the first time in more than a year, we saw positive variances in the number of sales and average sale prices. It was unrealistic to compare the first few months of 2017 to any period. Those months represented the most frenetic period in the history of the Toronto residential resale market, even more dramatic than Toronto’s last frenetic increase in real estate prices in the late 1980’s. Last year’s collective market psychosis was fueled by historically low-interest rates, demand that exceeded supply, and an unrealistic belief that house prices would never stop rising. When the Ontario Fair Housing Plan measures were introduced in late April, it was the electric shock that woke up the psychotic market. What the government’s measure couldn’t impact was demand. With the large number of people migrating to the greater Toronto area annually and the limited amount of new supply available to buyers, demand will always remain strong. It’s not surprising therefore that the residential resale market produced such strong numbers in June.

During the month of June 8,082 properties were reported sold. This compares favourbly with the 7,893 properties sold last year. It was not surprising that the average sale price also popped in June. In June the average sale price came in at $807,871 a 2 percent increase compared to the $791,929 average sale price last year. As the chart below indicates, the average sale price for all properties sold in the greater Toronto area has been making a steady recovery since the beginning of this year.

Demand and supply will continue to play significant roles going forward. It is troubling that only 15,922 properties came to market in June. Last year 19,561 properties came to market, a decline of almost 19 percent. Although active listings at the end of June were on par with the number available to consumers last year, most of that inventory represents the residue of the market build-up following the implementation of the Ontario Fair Housing Plan.

What the average sale price belies is the fact that it was achieved notwithstanding that the high-end of the market continues to lag. In June 237 properties were reported sold having a sale price of $2 Million or more. Last year 264 properties were reported sold over the same period. On a year to date basis, 1,067 properties in this price category have been reported sold, a stunning reversal from the 2,483 that sold last year. June’s results are, however, encouraging, and as continued positive variances are produced through the balance of 2018, the higher-end will begin participating equally with the rest of the residential resale market.

The long-term problem will become affordability. Average sale prices are starting to inch towards the numbers that prompted the Liberal government to implement the 15 percent foreign buyers tax. In the city of Toronto, the average sale price for all properties sold was $870,559, approximately 9 times the average household annual income. The resilience of the Toronto and area market makes it clear that if there is insufficient supply, and growing demand, no amount of government engineering will make housing more affordable. It will take a collective political will at the municipal, provincial and federal levels to address the supply issue. Unfortunately, we have seen no collective initiative in this regard.

Prepared by: 
Chris Kapches, LLB, President, and CEO, Broker