Properties InStyle

PropertiesInStyle goes High Tech, again

2010-11-24T13:56:00.000-08:00

For all you "techno geeks" out there, and I mean that in the nicest way possible, the QR code for my new listing is here.

For those of you who may not how this new trend of the future works, please don't hesitate to contact me and Ill show you how.

Properties InStyle has a QR Code

2010-11-23T19:42:00.000-08:00

Are you a techie, or are you up on the latest digital barcoding?
I attended a seminar the other day and learned about a new coding (see left) called QR Coding.
This will be the next "thing" that will transform the way we advertise, scan and read articles in the future.
So I thought I'd give it a try and I transformed my website URL into the new coding.

If you have and iphone, you can download the application from the app store (its free) and start scanning the QR codes you find in the workplace!

Try this one!!

Condos lead new-home sales in GTA

2010-11-22T14:45:00.000-08:00

STEVE LADURANTAYE
REAL ESTATE REPORTER— Globe and Mail Update
Published Monday, Nov. 22, 2010 11:15AM EST

Seventy per cent of the new homes sold in the Greater Toronto Area in the second busiest October on record were high-rise condo units, according to stats released Monday by the Building Industry & Land Development Association.

High-rise condo sales were 27 per cent higher than last October, BILD said. Of the 30,914 new homes sold this year, 56 per cent have been high-rise condos.

More related to this storyNew house prices advance
New house prices sidebar
Canadian mortgage debt tops $1-trillion for first time
Sales of single-detached, semi-detached and town homes have fallen 32 per cent compared to last October, as more people opt for suburban condos rather than a more traditional home.

“Although the City of Toronto continues to account for the bulk of all condo sales, the biggest spikes in activity were in the Regions of Peel and York,” said BILD chief executive officer Stephen Dupuis. “The high-rise housing craze has started to spread to the suburbs and it's a trend which will continue to grow.”

He attributed the slowdown in new low-rise housing to price differences, with a high-rise condo costing about $75,000 less for a similar sized property.

“The high-cost of low-rise living is a reflection of the low levels of inventory available,” he said.

A regional breakdown:

Low rise sales

Durham -43%

Halton -29%

Peel -64.2%

Toronto -2.5%

York -1.5%

GTA -32%

High rise

Durham 11%

Halton 40%

Peel 164%

Toronto 14.2%

York 138%

GTA 27.2%

Dont forget to go to Propertiesinstyle.com for all your real estate information and the latest new listings entering the market. Call Geon van der Wyst today.

View my profile on LinkedIn

2010-11-21T12:41:00.000-08:00

View Geon Van Der Wyst's profile

Click on the link to view my profile and connect with me.

Follow Me On Twitter!!!

2010-11-21T12:21:00.000-08:00

by Twit Background

Click the icon and sign up to follow me on my daily schedule and routine and learn first hand when the hottest listings enter the market.

New listing

2010-11-21T11:31:00.001-08:00

For Rent; at Yonge and Bloor
$1675/mnth including parking and locker and hydro
One bedroom, One bathroom with large kitchen. Sunny south view with Juliette balcony.
Great amenities include, guest suites, exercise room, 24hr concierge, ample visitors parking.
Directly across from Sherbourne Subway. Building overlooks Rosedale Valley Ravine.
Occupancy; Immediately.

Go to www.propertiesinstyle.com to see more information and photos

Housing Set To Find Even Keel in Spring

2010-11-16T06:41:00.000-08:00

By STEVE LADURANTAYE From Tuesday's Globe and Mail

Low rates, inventories should bring equilibrium to market; October prices flat from year ago, but sales make third monthly gai
Record low interest rates and a lack of houses on the market have rekindled demand for Canadian real estate, helping to pull the industry out of its sales slump and setting the stage for the most balanced spring market in years.
The Canadian Real Estate Association said Monday that although prices were flat in October and sales slid more than 20 per cent compared with a year earlier, the market posted its third straight month of increased sales.
In a sign of stabilization after two years of wild fluctuations, CREA said October sales were halfway between the lows of December, 2008, and the record high of December, 2009.
Economists said October's data likely means the market bottomed out in July; while prices won't rocket to previous highs any time soon, it's unlikely they have much farther to fall.
"It seems to me the Canadian housing market has been either feast or famine," said BMO Nesbitt Burns economist Douglas Porter. "But now buyers are facing low rates on one hand, and daily volleys about how bad the market is on the other. That should keep things from getting overly hot, and gives me reason to believe we could have a balanced market in the year ahead."
After slowing in the recession of 2008, sales activity reached a fevered peak in December, 2009, as buyers rushed back into the market.
Average resale prices peaked at an all-time high $346,881 last May, causing concern that cheap money was driving prices to unsustainable levels. The average resale price in October was $337,842, CREA said.
The market came to an abrupt halt last July, with major regions such as Vancouver and Calgary posting sales drops of nearly 45 per cent and prices pulling back from May's high. Several factors were cited for the decline: The federal government introduced rules that made it more difficult to qualify for a mortgage, and Ontario and Quebec introduced harmonized sales taxes that made the services associated with buying a home more expensive.
Would-be buyers also faced a barrage of warnings from organizations such as the Bank of Canada, the OECD and International Monetary Fund, all of which have cautioned that as interest rates rise, many Canadians might not be able to make their mortgage payments.
But mortgage rates have actually dropped in the past three months and now sit at all-time lows. A survey by the Canadian Association of Mortgage Professionals released last week showed that Canadians are confident they could shoulder higher mortgage payments without too much difficulty, with 84 per cent saying a $300 monthly increase was no problem.
"There are many reasons to now be optimistic," said TD Bank senior economist Pascal Gauthier, who called for prices to fall 10 per cent from peak to trough but now expects to issue a more upbeat forecast later this week. "I think there are now limits to both the upside and the downside - things may have firmed up quicker than we expected."
With the number of houses listed for sale sharply lower than in July, prices are expected to stay firm as buyers compete the few homes available. The months of inventory - the amount of time it would take to sell everything that is for sale, at the current rate of sales - sat at 6.2 months in October, down a full month compared with the July figure.
That doesn't mean prices are likely to catch fire again in the spring, when activity traditionally accelerates, but it should help keep prices from dropping as buyers and sellers hit the market in equal numbers.
"Affordability drives sales and record low mortgage rates are driving affordability," said Phil Soper, the chief executive officer of Brookfield Real Estate Services. "I think next year should look a lot like the recent market - with relatively flat prices and fewer overall transactions."

Go to www.propertiesibstyle.com for new hot properties entering the market and call Geon van der Wyst today for your private showing.

All signs point to a healthy market

2010-11-12T08:40:00.000-08:00

November 5, 2010 -- The Greater Toronto Area resale housing market remained in step with recent months’ activity in October. With 6,681 homes changing hands last month, activity declined 21 per cent from October 2009 when there were 8,476 sales.
The market’s year-to-date performance meanwhile, remains quite positive. Sales to the end of October reached 75,582, an increase of one per cent compared to the same point in 2009.
Taking a closer look at last month’s numbers, there were 3,930 transactions in the 905 Region and 2,751 sales in the 416 Area. In the 905 Region sales activity was marginally stronger than in the 416 Area. As compared to October 2009, when there were 4,922 sales in the 905 Region, activity decreased by 20 per cent. In the 416 Area transactions decreased by nearly 23 per cent compared to the 3,554 homes that changed hands in October 2009.
As the market has reached balanced conditions following a particularly lively period that occurred in the latter half of last year and the first several months of 2010, year-over-year changes with respect to both sales activity and average prices have been consistent throughout the GTA across all housing types.
In contrast to the moderate number of transactions in October, there continue to be very strong results with respect to selling prices achieved. The average price of a GTA home last month was $443,729, a nearly five per cent increase over the October 2009 average of $423,559. In the 416 Area price growth was marginally stronger than in the 905 Region. The 416 Area’s average price of $491,157 climbed five per cent, from $464,212 a year ago. In the 905 Region, the average price of $410,529 increased nearly four per cent from October 2009’s average price of $394,205.
Although a number of factors have contributed to healthy prices, chief among them is the fact that interest rates have remained very low, making the cost of carrying a mortgage affordable. Further, market conditions have tightened compared to the previous month. With 18,305 homes available for sale throughout the GTA last month, October’s active listings decreased by nearly 10 per cent compared to 20,334 in September. Perhaps as a result of more limited choice, the pace of activity has increased moderately. The number of days that homes are currently on the market before being sold decreased to 31 days last month from the September average of 33 days.
Today’s balanced market conditions present an excellent opportunity to achieve favourable results regardless of whether you are planning to sell or buy your next home. To help weigh the odds in your favour, talk to a REALTOR® who can offer insight into market conditions in your specific neighbourhood, share sophisticated marketing know-how and bring top-notch negotiating skills to the table.To learn more about the benefits of working with a Greater Toronto REALTOR® visit www.TorontoRealEstateBoard where you will find market updates, GTA open house listings, neighbourhood profiles, plain language explanations of commonly used real estate forms and more.
Bill Johnston is President of the Toronto Real Estate Board, a professional association that represents 30,000 REALTORS® in the Greater Toronto Area.

Go to PropertiesInStyle.com to view the latest hot listings entering the market!

Tweet Tweet!!

2010-11-11T11:35:00.000-08:00

You can now follow me on the "Twitterverse"!!

search geonvanderwyst and find me and follow me!! Come join the ride!

October Price Growth Reflects Healthy Housing Market Conditions

2010-11-11T11:22:00.000-08:00

November 3, 2010 -- Greater Toronto REALTORS® reported 6,681 sales through the Multiple Listing Service® (MLS®) in October 2010. This represented a 21 per cent decrease compared to the 8,476 sales recorded in October 2009. Through the first ten months of the year, sales amounted to 75,582 – up one per cent compared to the January through October period in 2009."The annual change in sales and average selling prices has been quite uniform across the GTA and by property type as the market has balanced out from record levels of sales in the second half of 2009 and first few months of 2010," said Toronto Real Estate Board (TREB) President Bill Johnston."The composition of GTA home sales does differ depending on location. Condominium apartments accounted for 42 per cent of total sales in the City of Toronto and almost 60 per cent of sales in TREB's central districts," Johnston continued. "In regions surrounding the City of Toronto, in contrast, low rise home types accounted for almost 90 per cent of transactions."The average price for October transactions was $443,729 – up five per cent compared to the average of $423,559 reported in October 2009. The average selling price through the first nine months of the year was $430,802."The average selling price in the GTA has continued to grow relative to 2009 because home ownership has remained affordable," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis. "A household earning the average income in the GTA can comfortably afford the mortgage payments associated with the purchase of an average priced home.""The outlook for mortgage rates and income growth over the next year is favorable. The average home selling price could increase moderately next year and remain affordable for the average GTA household," continued Mercer.Median PriceIn October, the median price was $366,000, from the $357,000 recorded during October of 2009.

Have Properties InStyle will Travel

2010-11-09T06:21:00.000-08:00

You may get burnt if you dont have the latest in 'cover style' seen here in the Galapagos Islands recently.

Grab a Properties InStyle sun cap and protect yourself from the sun.

Call Geon van der Wyst to protect yourself through the process of buying and selling your home!

Look After Your Body!! You Only Get One!

2010-11-05T11:43:00.000-07:00

Friday afternnoon; and as promised Im writing in my blog, though this time Im writing to vent, nothing to do with real estate.
As part of keeping my self healthy since my retiring from my professional dance career, Ive been working out at a gym across the street from my work. Stretching, cardio, some weights, then some more stretching. I thought Id go a little harder on the weight the last few weeks. Slowly I notice a bit of pain shooting from my shoulder-blade the next day. I ignore the pain as I always have throughout my career, and push through. After a couple of weeks, I notice a little numbing of my right hand and I lose strength in my hand. Ok, I think I better speak to someone....
I call one of my old favourite physios, Marla, and ask, "I can't use my arm, do you think there is something wrong"? She calls me into her clinic straight away and checks me out and commences treatment. Ive compressed a nerve in my C5/C6 spine.
After a week of intense physio and massage, there is no noticeable improvement so Marla sets me up to see the head physician of the clinic, someone Ive seen a few times before during my dancing days.
After seeing him, Marla came into the consultation room with me, the doc orders immediate x-rays. I get them done across the hall and they scoot right back to him on his computer screen. He calls me over. He showed me my rays, asking if I'd ever had a major trauma to my neck. Not that I can remember I say. We as dancers dealt with lots of pain everyday, just another pain I suspect. He shows me that there is little to no disc between my vertebrae and is compressing my nerve. Also the vertebrae where the injury is looks quite different to the others. OI VAY! No wonder. So he has ordered an MRI asap to see whats going on.
And that's where we stand right now.
You probably don't realise that this has just taken me about an hour to type this blog, most of which is to correct all the mistake I made fumbling around with my right hand. So frustrating.
Ill keep you posted of what happens next, though one day I will realise that I only have one body and need to look after it.
I guess I should call my parents before they read this before I tell them!!..

Look after your body!

Introducing Saturday Tour of Homes

2010-10-26T07:08:00.000-07:00

Introducing Saturday Tour of Homes…

If you or someone you know is interested in wanting to know a little more about certain neighbourhoods you have had your eyes on in Toronto, or would just like to investigate certain areas of the real estate market, I am pleased to announce that I will be introducing weekend tours.

This tour is not intended for those wishing to purchase in the immediate future, but an initial investigative exercise to learn more about the Toronto real estate market and certain areas they may be interested in knowing about.

The tour will take approximately two hours. May I suggest choosing one particular area at any one time, so that we are able to focus on providing you detailed information for that particular location, and show you a number of homes currently available in that area, outside and in!

To schedule a Tour of Homes, please go to my website PropertiesInStyle.com and click on the Saturday Tour of Homes and complete the requested information fields. We will contact you to confirm our tour.

If you think that someone you know may be interested in this informative opportunity, please don’t hesitate to pass this informationonto them, or have them contact my office at (416) 921 1112.

Cohen Praises Canada's Banks

2010-10-20T06:08:00.000-07:00

Globe and Mail- 20th October, 2010
By Jeff Page
The man widely regarded as Wall Street’s No. 1 lawyer has nothing but praise for Canada’s banks and financial watchdogs for their deft avoidance of the meltdown that hit the United States. And he says the United States, as it seeks to reform its ailing mortgage institutions – Fannie Mae and Freddie Mac – should look north for advice.
“Luck always plays a role, but you also make your luck,” Rodgin Cohen said Tuesday at a Toronto breakfast speech of Canada’s performance. “I think there was good management. There was a good regulatory system.”
It was of course the collapse of the U.S. housing market that started the financial crisis. But if Canada’s mortgage regime had been in place in the U.S., much of the 2008 financial meltdown would have been avoided, Mr. Cohen said, praising the prudence of Canada’s shorter mortgages, and other stricter rules.
“Had we had the Canadian mortgage system, we never would have a had a serious problem,” he said during a question and answer session at a private breakfast with mostly Bay Street lawyers.
Mr. Cohen also said that U.S. financial reforms could diminish Wall Street and push some risky behaviour – such as trading in hard-to-understand derivatives – into Canada and other financial centres or worse, back into the United States’ unregulated “shadow banking system” of hedge funds and investment banks.
“If they can’t engage in transactions in the United States, they’re going to engage in transactions elsewhere,” he said. “And notwithstanding the penchant of the U.S. [financial regulators] for extra-territorial reach, it’s going to be hard to reach in to London, Singapore or for that matter, Toronto.”
Asked by a reporter if the constant refrain by Canadian officials that the country avoided the mistakes of Wall Street sounded smug, Mr. Cohen said Canada shouldn’t be shy about boasting of its success: “Smugness is never a good idea. But I don’t think pride is always a bad idea. And I think the Canadian banks and Canadian regulators have a right to be proud of what they avoided.”

Dont forget to visit http://www.propertiesinstyle.com/ to view the latest listings entering the market and call Geon van der Wyst today.

CREA : The Canadian Real Estate Association - A special article

2010-10-19T12:09:00.000-07:00

National Resale Housing Market Further Stabilizes

National resale housing activity edged higher for a second consecutive month in September 2010, according to statistics released by The Canadian Real Estate Association (CREA). Combined with a falling supply of homes on the market, the number of months of inventory also declined for the second consecutive month.Seasonally adjusted national home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards was up three per cent month-over-month in September 2010. Building on a monthly increase in sales activity in August, sales in September reached their highest level since last May. Two-thirds of local markets posted monthly increases in seasonally adjusted activity, led by Winnipeg, Calgary, and Montreal.Actual (not seasonally adjusted) national sales activity in September 2010 came in 19.8 per cent below last year's record for the month, but stands only slightly below September sales in the previous three years. Record level sales activity late last year and earlier this year is expected to further stretch year-over-year comparisons in the months ahead.The number of new residential listings on Canadian MLS® Systems was little changed from August levels, edging up seven tenths of one per cent on a seasonally adjusted basis. New listings remain 15 per cent below the recent peak reached last April."Supply and demand are rebalancing, and that's keeping prices steady in many markets," said Georges Pahud, CREA's President. "Local and national housing market conditions often differ, so home buyers and sellers should consult their REALTOR® to understand how sales, inventory and pricing trends are shaping up in their market."The national price trend continues to stabilize. At $331,089, the national average price remained on par with where it stood one year ago. September marks the second consecutive month in which average price remained even with year-ago levels.Weighted average price trends are also moderating. The national weighted average price climbed three per cent on a year-over-year basis in September 2010, marking the sixth month of diminishing gains. Similarly, the residential average price in Canada's major markets rose 1.3 per cent year-over-year, while the weighted major market average price rose 5.7 per cent. The national (or major market) weighted average price compensates for changes in provincial (or major market) sales activity by taking into account provincial (or major market) proportions of privately owned housing stock.The number of months of inventory represents the number of months it would take to sell current inventories at the current rate of sales activity, and measures the balance between housing supply and demand. The seasonally adjusted number of months of inventory stood at 6.6 months at the end of September on a national basis. This is down from 6.9 months in August, and 7.2 months in July."Mortgage lending rates eased in the third quarter, which helped support sales activity over the past couple of months," said Gregory Klump, CREA's Chief Economist. "Interest rates are going nowhere fast, so home ownership will remain within reach for many homebuyers.""Since Canada's interest rate outlook is tied to a weakening outlook for economic and job growth, consumer sentiment will remain under pressure until economic prospects improve next year. In the meantime, many Canadians will be focused on paying down their debts in anticipation of interest increases next year. That means the continuation of low and stable interest rates is unlikely to cause housing demand or prices to take off, especially since the hangover from accelerated home purchases earlier this year is expected to persist for some time."PLEASE NOTE: The information contained in this news release combines both major market and national MLS® sales information from the previous month. CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighborhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.MLS® is a co-operative marketing system used only by Canada's real estate Boards to ensure maximum exposure of properties listed for sale.The Canadian Real Estate Association (CREA) is one of Canada's largest single-industry trade associations, representing more than 100,000 REALTORS® working through more than 100 real estate Boards and Associations.

Bank of Canada keeps interest rate at one per cent

2010-10-19T12:02:00.000-07:00

OTTAWA - The Bank of Canada is keeping its trend-setting policy rate at one per cent and radically reducing its expectations for the economic recovery.The central bank had raised rates three consecutive times since June, but now said the economy is too feeble for more tightening.It said the recovery is much weaker than it had thought last July, both domestically and around the world.Canada's economy will likely grow by only three per cent this year, it said, mostly due to the fast start.And instead of a solid 2.9 per cent advance next year, growth will average only 2.3 per cent.Even more surprising, the bank said the economy will take a full year longer than it had previously projected to return to full capacity. The so-called output gap won't be closed until the end of 2012, it now said.The bank also revised its language about when to expect future rate hikes, a signal it may stay put for some time.

Dont forget to go to http://www.propertiesinstyle.com/ to see the latest hot listings and call Geon van der Wyst for an appointment today.

Picture above right; The Bank of Canada building in Ottawa, courtesy of Bank of Canada

Economic Forecast Shows Federal Government Is on the Right Track

2010-10-19T11:58:00.001-07:00

The Honourable Jim Flaherty, Minister of Finance, today released an update of the Government's economic and fiscal projections. The update clearly demonstrates that Canada remains on track to return to a balanced budget over the medium term.
"The fiscal projections set out in today's update show the Government's plan is on track," said Minister Flaherty. "For the first time since the global financial crisis, we are forecasting a balanced budget."
Canada's Economic Action Plan has underpinned a solid and enviable economic recovery, and Canada has recouped virtually all of the output lost during the recession. As a result of this solid economic performance, nearly 423,000 jobs have been created in Canada since July 2009.
The International Monetary Fund continues to expect that Canada will have the strongest average economic growth among Group of Seven countries over 2010 and 2011. According to the average forecast of private sector economists, real GDP growth is expected to be 1.8 per cent in the third quarter of 2010 followed by growth of about 2.5 per cent over the next three quarters. While economic growth will continue, the private sector forecasters believe the economic recovery remains fragile due to current global challenges, including uncertainty in the United States economy.
"The uncertainty in the global economy means we must continue to keep our primary focus on jobs and growth," continued Minister Flaherty. "This year, our Government's top priority will continue to be the economy and the implementation of Canada's Economic Action Plan."
For over a decade, the Government's fiscal projections have been based on the average of private sector economic forecasts. The update maintains this approach. However, in light of the uncertainty surrounding the global economic outlook, the average private sector forecast has been adjusted downward for fiscal planning purposes.

Dont forget to go to www.PropertiesInStyle.com to view the latest hot listings to enter Toronto and Call Geon van der Wyst to arrange your viewing.

Six suggestions on how to avoid Mortgage Fraud

2010-10-18T07:23:00.000-07:00

Globe and Mail- Monday 18th of October 2010
Good Morning!
This is an excellent, simple read, written by Dianne Nice on the important topic that is getting a lot of exposure in the market today. As Geon van der Wyst and PropertiesInStyle suggests to their clients, obtaining 'title insurance' at the closing of a real estate purchase is a great way to avoid any potential issues such as mortgage fraud. You lawyer can also provide you with information on the benefits of title insurance.

Whenever the housing market starts to heat up, so does mortgage and real estate fraud. Buyers rush through deals to avoid losing out, but can end up being scammed if they’re not careful.
While there are no statistics on these types of fraud in Canada, in the United States, it is estimated to cost victims between $4-billion and $6-billion (U.S.) a year.
“Mortgage scams are carried out in all different forms and involve a multitude of people, some who don't even know they're being taken advantage of,” says Diane Scott, president of the Calgary Real Estate Board.
Ms. Scott says at least two types of mortgage fraud have occurred in Calgary this year. One is property flipping, in which a dishonest seller artificially inflates the value of a property using a phony appraisal and then sells it for a large profit. The phony appraisal often remains with the property through multiple transactions, making it difficult to determine the property's true worth, and the end buyer is left paying for a mortgage that is much higher than the home's value.
The other involves “straw buyers,” who are offered money to lend their identity and good credit record for use on fraudulent mortgage applications. The fraudster uses the information to apply for a loan, then disappears with the money, leaving the straw buyer on the hook for the mortgage payments.
Other types of real estate scams include title fraud, where your identity is stolen and used to assume the title of your property, which can then be used to sell your home or get a new mortgage. The criminal takes the mortgage money and runs. You may not even find out about the fraud until the lender contacts you or someone pulls up in a moving van, claiming to be the new owner of the house.
And there’s also foreclosure fraud, in which a homeowner having trouble paying a mortgage is offered a loan in exchange for up-front fees and an agreement to transfer the property title to the scammer, who is then able to take the victim’s loan payments, sell the house or remortgage it and leave with the money.
While a lawyer, realtor or licensed mortgage broker can help ensure all legal precautions are taken, it’s still important to do your homework before you buy, Ms. Scott says. Here’s her advice on how to avoid becoming a victim of fraud:
1. Beware of unusual offers. Never lend your identity to anyone or sign documents you do not fully understand. “If it sounds too good to be true, then it probably is,” Ms. Scott says.
2. Do the math. Look at the listing history on the property and do a comparative market analysis. Check the number of sales and price ranges for the community. If the home’s listing price is much higher than the average value of neighbouring homes, it could mean someone is flipping the property or has had it fraudulently appraised.
3. Don’t assume the seller is honest. Get your own realtor or independent representation for your purchase. If the seller objects, something is wrong.
4. Do a land title search. This will show the name of the property owner, any mortgages or liens registered on the title, as well as previous sales and transfers. You can also buy title insurance to protect against title fraud.
5. Get your own appraisal. You may want to include, as part of your offer to purchase, the option to have the property appraised by a member of the Appraisal Institute of Canada.
6. Secure your deposit. Make sure your money is being held in a real estate trust account by a realtor or lawyer. This will ensure your money is safe until the deal closes.

Dont forget to go to http://www.propertiesinstyle.com/ to see the latest hot listings available. Should you have any real estate questions, please contact Geon van der Wyst at 416 921 1112.

Pimlico Design Gallery- Gift Heaven!

2010-10-12T12:33:00.000-07:00

After going to the gallery opening of Aleksandar Antonijevic’c amazing nearly sold out photographic exhibition last week at Pimlico Design Gallery, I drove past the gallery and stopped the car. I noticed very colourful and interesting objects in the window. I was intrigued.

I walked in and was greeted by the gallery owner, Tanya Velasevic. Now I understand why it I called a ‘design’ gallery. The space was filled with the most interesting functional art pieces that one can use for everyday life. For example, glass oil and vinegar bottles, hand blown by French/Canadian artist, Julien Mongeau, hand made mortar and pestle in many shapes, colours and configurations, by a local artist, Tahir Mahmood and salad tongs made in the shape of two swimmers for the handles by french, Pylones! There are hand painted tea towels, serving trays, amazing steel furnishings designed by the upcoming local artist, Pierre Pousin. These are only a few of the exceptionally unique pieces that are available.

Velasevic explained she is only interested in finding unique products that are made by the artists, both Canadian and now international talent. “You want something fun and unique, you will find it here. I have a constant flow of new designers that makes a good reason to return to the gallery regularly”.

This gallery is a great destination for seasonal and house warming gifts, and I want to share this with all of you. The gallery is warm and inviting without any pretense of an art gallery. You are met with friendly arms with wonderful gift ideas.

Velasevic also has a catalogue of other great photographic works by Antonijevic including landscapes and human interest portraits available.

As the holiday season is just around the corner, make this your destination for those interesting and original gifts ideas for your colleagues, friends and family.

The address of the gallery is 789 Dupont Street, Toronto, Ontario. Ph.416 538 0909

Web; http://www.pimlicogallery.com/

Don't forget to visit my website, http://www.propertiesinstyle.com/ to view the latest hot listings to enter Toronto and call Geon today!

No News is Good News!

2010-10-07T15:13:00.000-07:00

Hello all;
Im finalising some business early evening before I head out fo the office for my evening appointment, and ithought Id share that there was little news relative tot he real estate market today. Shock horror I hear you say? Finally there is other news to sell papers today.
Im sure there will be more news shortly for me to write about.
Off to meet my client!

H.S.T. and Real Estate- The Misconceptions

2010-10-06T14:44:00.000-07:00

It is my duty to report important information regarding the real estate market and this next topic is definitely one of them.
Since the introduction of the Harmonized Sales Tax on the 1st of July this year, many consumers have not been aware of what is and what is not affected by this implementation.
Toronto Realtors are emphasising to their clients and the public that HST does not apply to resale homes.
Although the HST applies to newly constructed homes and professional services associated with real estate transactions, the purchase price of a resale home is exempt from this tax. Since resale housing was never subject to the Provincial Sales Tax or the federal Goods and Service Tax (GST), it continues to be exempt from the new HST.

In correlation, new construction of homes was previously subject to GST, meaning it now is subject to HST. The provincial government does however, provide a rebate of 75% of the PST on the first $400,ooo on new homes to a maximum of $24,000.

I, Geon van der Wyst and Properties InStyle will continue to drive home this message to all GTA home buyers. Don't forget to go to www.propertiesinstyle.com to find new listings for sale and schedule your private appointment.

Canada Housing Market Has Strong Foundation

2010-10-06T13:36:00.000-07:00

Below is a market synopsis prepared by Don Kottick, one of our Royal LePage Real Estate Services Ltd. J&D managers which is a very good read to show Canada's housing market shows some fundamental strength:

It now appears that more pessimistic news will be flowing out of the U.S. shortly, as American banks take action to remove what many hope are the final round of sub-prime foreclosures from their books before the end of the year. It has become abundantly clear that Canada is distinctly different from the U.S. Our national differences stem from variations in our economies, our distinctive real estate markets, dissimilar banking and lending practices in each country, and the cultural differences. Canada, once the forgotten cousin within the G20 group of countries, has recently catapulted to the forefront of these global powerhouses. Once considered too conservative for the global banking industry, the lending policies practiced by Canadian banks are now considered worthy of benchmarking and role model status for other global banks. The litmus test for Canadian banks occurred when the tumultuous U.S. sub-prime mortgage meltdown barely scratched the surface of the Canadian sub-prime mortgage market. Some of the most significant differentiators between the Canadian financial/banking system and the U.S. system include the following:
· Canada does not have mortgage interest deductibility for income tax; therefore, Canadians want to pay down their mortgages as quickly as possible, which is not the case in the U.S.
· Canadian banks distribute their assets and liabilities across Canada, spreading the risks and rewards across the country, mitigating against local real estate market fluctuations or outright collapses. In the U.S. banking industry, there are restrictions on interstate trade and banking. The grandest example of this difference occurred during the Great Depression, when over 10,000 U.S. banks failed, while Canada did not have any bank failures.
· In Canadian provinces, with the possible exception of Alberta, mortgages are fully recoverable, if the financial means are present. Any shortfall resulting from a bank sale is still the responsibility of the homeowner, who (in most situations) remains fully accountable for the debt.
· Mortgage insurance is compulsory for all federally regulated financial institutions in Canada when the loan-to-value ratios exceed 80%, which is not the case in the U.S.
· In Canada, approximately 30% of mortgages are securitized, so most lenders have ongoing exposures to the mortgages they originate, thus providing an incentive for more prudent lending practices. In the U.S. the majority of mortgages are securitized and sold to third parties, who are much quicker to write off debt, in the event of default.
Canadian real estate markets are very different on both the local, provincial and national levels. For an extended period of time, the media has prophesized that Canada would eventually follow in the tracks of our neighbourhoods to the south. The media’s long standing predictions have not come to fruition for the following reasons:
· From the mid-2006, at the peak, housing prices in the U.S., have subsequently fallen by approximately 30% through to February 2009 (Case-Shiller Composite Index). While in the Canadian market, from the mid-2008 peak, prices have fallen by only 7.4% through to February 2009 (Teranet/National Bank of Canada Composite Index).
· Buyers are still in abundant supply, which is representative of a balanced fall market.
· Central Toronto is still one of Canada’s primary destinations for new migrants. According to the Ministry of Finance, the Greater Toronto Area is projected to be the fastest growing region of the province, with its population increasing by 3 million or 49.5% to the year 2036.
· With Canadian interest rates remaining at historic lows, more buyers are able to enter the real estate market fuelling the ‘move-up’ market.
· Even though the Toronto Real Estate Board reported a 22% drop in sales in August 2010 compared to sales in August 2009, the average price of homes in the GTA actually increased 6% from the previous year. The cyclical summer slowdown was further enhanced due to the introduction of the Harmonized Sales Tax on July 1st, which skewed the typical sales cycle.
Although no one has an economic model or a crystal ball that accurately predicts where the economy is going, our research and data show that the Central Toronto real estate market is still a thriving market place. Notwithstanding an unforeseen global event, taking into account the typical seasonal cycles, in addition to a gradual increase in interest rates over the coming years, Toronto should continue to have a reasonably balanced real estate market as its prominence as a world class global destination increases.

Don't forget to go to my website: www.propertiesinstyle.com to see the latest hot listings for sale. If you have any questions about the market, please don't hesitate to contact Geon van der Wyst today.

New city bylaw affects driveway parking for newly constructed homes

2010-10-06T11:05:00.000-07:00

I was hearing on the news radio this morning about the current confusion about the parking new zoning by-law that came into effect October 1st this year.
Here is the clarification;
restriction on the number of cars parked in a driveway only applies to new construction, NOT older style homes. The new by-law states that one car is allowed to park in front of a single garage and two cars for a garage for two vehicles. The fines can be up to $5,000
As we head into the Mayoral race in Toronto, a couple of candidates, Rob Ford and George Smitherman have vowed to repeal the by-law if elected.

Geon van der Wyst is consistantly updating his web blog to keep you informed of real estate and other inportant matters. Please go to www.propertiesinstyle.com for hot new listings

Human or Dancer Exhibition- EXTENDED!

2010-10-04T09:19:00.000-07:00

I thought I would let you all know; the gallery owner of Pimlico Design Gallery ( 789 Dupont Street, Toronto), Tanya Velasevic, just contacted me to announce the exhibition of Aleks Antonijevic has been extended due to increased interest.
Also, you will be able to meet The Artist and discuss his work this Saterday 9th October from 1-4pm.

I was lucky enough to get in the door on opening night and squeeze through to view the works and was very impressed with his work. Velasevic explained that many of Antonijevic's works have already been purchased, and limited editions are still available.

Looks like Antonijevic's work has wide appeal. Well worth a visit!

The Gallery now has extended the exhibition to October 10th, 2010

Don't forget to go to propertiesinstyle.com to checkout my new hot listings for sale!

2010-09-30T07:40:00.000-07:00

Buying Pre- Construction Condos - Beware!

I recently attended a seminar about buying a pre-construction condominium. It was a refresher course for me and it reinforced that there is much more involved in buying a condo ‘off the plan’ than just signing on the dotted line - so I’m writing this because I strongly suggest that before you enter any sales centre of a new development, enlist my assistance to guide you through the intricate details of buying new.

First are the sales centres, all dressed up in luxury surroundings appealing to a lifestyle everyone wants to live. Cool music to satisfy the auditory senses, coffee machines brewing that golden shot of espresso for the olfactory, stunningly upgraded model suites designed to entice us. But buyers beware! They are there to stir up the emotions and make for a quicker sale and for you to sign on without looking at the finer details.

Being able to read and interpret a floor plan is crucial. To know and understand spacial awareness of a layout that is functional and provides enough space for each and every use. Most Realtors understand what works and what does not and why. I have come across many buyers who have purchased without any guidance, only to be very disappointed that the unit they bought lacked space and functionality, hence affecting its value and quality. We at PropertiesInStyle know which floor plans work and what will be very sellable in the future.

And it’s not only buying the right floor plan that is important. There’s also understanding the purchase documents which are written on the builder’s forms, NOT the standard purchase and sale agreements you see in the resale sector. These forms can be very complex and one should know what questions to ask and where to drill down for the details.
For example;
What other closings costs are involved? Are the closing costs capped? Is the building covered by Tarion warranty? Is the parking and locker separately deeded or ‘Exclusive Use’? What are the developer’s rights to extend the closing date?
These questions and many, many more, affect the value and enjoyment of the property.

Of Course GST and HST are involved with the purchase of a new condominium. As this issue is another complex issue during the process, a Realtor is able to ask the right questions that are applicable to your situation such as your eligibility for a rebate as an owner occupier, or an investor.

It is the job of the developer’s sales representative to sell as many units as possible. They may not always be there to discuss the intricacies of the purchase. Also, they are there to promote and sell the units that are less desirable. That’s what we in the real estate world call the ‘dog suites’. These are the units that have more than a few compromises so it is important to ‘get in first’ and have the best choices available. Typically Realtors get priority invitations to new building sites so their clients have first dibs on the sales release at a preview event. This event takes place prior to the building going public and is where the ‘premium suites’ get snapped up.

There is much more I could say about new construction so please feel free to contact me anytime as I would be happy to discuss the whole process with you, and if you are thinking of buying a new condominium at a pre construction site, make sure you take me, Geon van der Wyst of PropertiesInStyle along as your consultant and get the premium unit for your investment.

A Brand New Day!

2010-09-28T12:09:00.000-07:00

Hello followers!

As you may have noticed the last year or so, that my blog has taken a back seat to other parts of my business of assisting clients buy and/or sell their homes. Alongside providing first class service to these people, I was still in a phase whereby building a solid foundation to my business model was an area I needed to focus on.

Now that I feel Im at a comfortable stage where my business has proven systems in place, and no stone left unturned, I am able to devote some of my time to write, inform and advise on real estate matters that people may find interesting.

It will not only provide information about current market conditions, I will also comment on some of the daily accounts of interesting events I see around our great city.

So.... I promise that whe you regularly come back to this blog, there will be a consistant flow of fun and informative comments, that you can also participate and get some action happening!

Dont forget to go to my website; http://www.propertiesinstyle.com/ for new hot listings, and excellent tips on how to navigate the real estate market. Keep in mind you can always contact me at any time if you have any questions, or if you are ready to make a move!

Have a great day!

Geon van der Wyst

2010-09-27T14:03:00.000-07:00

Human or Dancer

Photography Exhibition by Aleksandar Antonijevic.

I thought I would share this with you all. A former colleague and principal dancer of the National Ballet of Canada is presenting his first photographic exhibition in Toronto.

He is a very talented individual and Im sure you would find this exhibition very interesting.

The owner/curator of Pimlico Design Gallery has followed some of Antonijevic's work in recent publications and had offered him her gallery for his first solo exhibition.

His work would make a great addition to your wall in any home or office!

Go to Pimlico Design Gallery October 1-7th

789 Dupont Street, Toronto. ON

www.pimlicogallery.com
www.propertiesinstyle.com

Geon in the News- Globe and Mail Article

2009-03-06T14:39:00.000-08:00

Optimism returning to housing market, RBC survey finds

VIRGINIA GALT

Globe and Mail Update
March 4, 2009 at 4:04 PM EST

Confidence appears to be seeping back into the housing market, with young Canadians the most optimistic that now is a good time to buy, according to the Royal Bank of Canada's annual homeownership survey.
Thirty-year-old David Morris, who owns a condominium in downtown Vancouver, is among those actively planning to purchase a home. He's looking to sell his condo and trade up to a house in Vancouver's trendy Kitsilano or North Shore districts – a move that would have been out of his reach in the overheated real estate market of recent years.
Falling prices, low interest rates – and the fact that he is getting married at the end of this year – have factored into Mr. Morris' decision to buy.
“We have made the decision to move forward. It's not a situation where we're going to force it, but if we can find the right house for the right price, we have made the decision to get serious about it,” said Mr. Morris, a commercial real estate broker.
“From a buyer's perspective, it's encouraging …Now is a good time to come in and find a home that you love, that isn't going to break the bank.”
In a survey of 2,026 Canadian consumers, conducted in the second week of January, the Royal Bank found that 65 per cent of respondents believe it is a buyers' market now.
Of those surveyed, 9 per cent said it is “very likely” they will purchase a home or condominium in 2009 or 2010, and another 18 per cent rated the prospect of purchasing a new home as “somewhat” likely.
“Additionally, almost half indicate it makes sense to buy a home now versus waiting until next year.”
Young adults and renters are most likely to spark an upsurge in home sales, Royal Bank said in releasing its survey results.
“In the under-35 group, 48 per cent said they plan to buy, which is up sharply from 36 per cent last year. Renters also appear to be saying they are tired of paying someone else's mortgage payment, with 38 per cent planning to become homeowners in the next two years.”
Although this optimism is not reflected in the most recent sales statistics – the volume of sales in the Toronto area, for instance, was down 47 per cent year-over-year in January – Royal Bank predicts that lower prices will lure a growing percentage of Canadians back into the housing market in the next two years.
Toronto real estate agent Geon van der Wyst noted that consumers do not always follow through on their intentions – although it is encouraging that more Canadians appear to be thinking about buying homes.
“Intention is the step prior to making an educated decision… and I'm sure a lot of those people with intentions will move forward with purchases, it's just a matter of finding the right time,” Mr. van der Wyst said.
Karen Leggett, the Royal Bank's head of home equity financing, said low mortgage rates “and favourable housing prices are influencing home purchase intentions this year and may be the reason why more Canadians are poised to purchase over the next two years.”
Ms. Leggett said the poll, conducted for the Royal Bank by Ipsos Reid, found that the vast majority of Canadians believe that the purchase of a home is a good investment. “The current economic environment does not appear to have dampened Canadians' overall confidence in the housing market,” she said.
Mr. van der Wyst said there are good deals to be had, from the buyers' standpoint.
However, he added, many prospective buyers – particularly first-time buyers – are still uncertain about the best time to plunge into the market.
“We tend to hand-hold these first time-buyers, nervous first-time buyers, especially around here where they know the prices are starting to dip – and who knows where they will continue to dip before the recovery starts?”
Mr. van der Wyst said that, especially in the current economic environment, he screens prospective buyers carefully before taking them to look at properties. He noted that the banks are also “pretty stringent” in qualifying consumers for mortgages.
“Interest rates are at historic lows and borrowing money is very, very affordable. If you have steady employment and you have some financial responsibility along with a good interest rate, now is a really, really good time to purchase a property,” said Mr. van der Wyst, an agent with Royal LePage.
“At this time, employment stability is very important. It would be really unfortunate to see someone lose their job just as they were about to close on a property,” he said.
A number of leading Canadian economists have observed that Canada's rising unemployment rate has eroded consumer confidence, and other recent housing forecasts have been less upbeat than the Royal Bank survey.
Canada Mortgage and Housing Corp. projects that, in spite of falling prices, the volume of existing home sales is expected to drop by 14.6 per cent in 2009, and then rise by 9.3 per cent in 2010.
Average home prices are forecast to fall 5.2 per cent to $287,900 in 2009. Next year, prices are expected to remain flat, according to the federal housing agency's forecast.
Ms. Leggett said Royal Bank is not forecasting “a huge housing rebound, by any stretch,” but there are reasons for cautious optimism that the market will start to recover later this year and next year.
Following the overheated market and bidding wars of the past few years, housing is once again becoming more affordable and there are good buying opportunities for consumers “who have good solid certitude around their job prospects and have the financial picture to be able to get into the market,” Ms. Leggett said.
“Buying intentions are one thing. Whether they translate into actual purchases, obviously time will tell,” she said. “But, anecdotally, we are hearing that there is heightened activity …and interest in the marketplace overall.”

For those interested in learning more about the real estate market and how it affects your situation and decisions, please dont hesitate to contact me.

VIP Clients Enjoy a Night at the Theatre

2008-12-17T11:13:00.000-08:00

There were tears before bedtime last Friday evening at the Elgin Theatre. Not your average tears, but tears of laughter as VIP Clients were tickled with humour during the performance of Ross Petty’s Cinderella.
With a stellar cast who were immersed in their characters from start to finish, the audience were filled with song, dance and many witty moments. Although it is a show that is geared to appeal to children, the dialogue certainly provided the adult component of the audience with vaudevillian humour. At times during the show there was no time to take a breath between jokes!

It gives me great pleasure to have invited many special clients who have been so kind in supporting my business through consistent referrals throughout the year. I believe in looking after my clients long after they have concluded their real estate transactions. That is what we call the Properties InStyle Lifetime Experience.
As referrals are an integral part of my business, it pleases me to give back to those who have supported me throughout the year. You too can become a VIP client!

Movie Morning Madness 2008- A Great Success!

2008-04-18T09:30:00.000-07:00

It gives me great pleasure to thank those who attended the Movie Morning Madness 2008 last Saturday April 12th. Starting with breakfast provided by the famous Bonjour Brioche, guests had time to mingle, enjoy some delicious pastries, coffee and juice then grab a bag of popcorn, and select their seats in the comfortable theatre of the Regent on Mt. Pleasant Road. The pre-screen presentation included the current listings I have in my inventory and other properties that are "Coming Soon" to PropertiesInStyle. My clients love this kind of marketing as it increases the exposure of their property and I can connect more possible buyers to their home.

There were lots of great door prizes including Ballet tickets, Restaurant dinners, Platinum Raptors tickets kindly donated by my mortgage team from The Mortgage Centre, My Fair Lady Tickets kindly donated by Cleanol and Centre Stage home staging, Flat Screen T.V, Family Pass donated by the Loraine Kimsa Theatre for Young People.

This year we asked our guests to bring along an unwrapped toy in suppport of the Children's Aid Foundation and had a very good response. We accumulated a LOT of toys to donate on my clients behalf. There will be many smiles on the faces of children less fortunate this year.

As the rain trickled down, it made perfect sense to come indoors and watch a movie- this year the Academy Award winning, "Ratatouille". Suprisingly, it was the men who came out with tears in their eyes!

My sincere thanks to all of my clients who made the event such a sucess, and a special thanks to those who have referred me to their friends and family looking to make a move. Your thoughts are always appreciated as my business depends on you.

Movie Morning Madness 2008

2008-03-11T10:39:00.000-07:00

Hi there!

It's that time of the year and I'm always excited to organise and host our annual client appreciation event; Movie Morning Madness 2008. It will be a fun morning for the whole family including food, fun, great prizes, and of course a great movie!

This year we support the Children's Aid Foundation. We hope to be able to give a load of new toys for kids that are less fortunate than ours.

It always gives me great pleasure to be able to give back to my clients and offer what I call: the "Properties InStyle Lifetime Experience". Look out for your invitation in the mail and I look forward to seeing you all there!