We came across a great article recently, talking about the most expensive home currently on the Toronto market – listed at $26.8 million! This “mega mansion” is located in the Bridle Path neighbourhood area of Toronto, owned by Margaret and Lee Ka Lau (who made their money in technology).
The living space of this breathtaking home is more than 40,000 square feet and covers almost 4 acres of land (on a double Bridle Path lot). The home itself is 22,935 square feet and it has a sports complex that is about 17,645 square feet (including an indoor tennis court, bowling alley and indoor pool). The mansion also has a cinema, an indoor putting green and a tunnel from the main house to the sports complex. The home boasts 19 foot ceilings, a 46 foot arboretum and has 13 bathrooms!
To read more about this amazing house and to see beautiful photos, click here. It is truly a magnificent home!
This house is surely a big investment as you not only need to shell out a huge amount for the property itself but the property taxes are $115,341 per year (that works out to $316 per day in taxes alone) – oh it’s fun to dream!
Until next time,
The Jamie Dann Team
Tuesday, January 25, 2011
Friday, January 21, 2011
The Canadian Real Estate Industry: Wish List for 2011
2010 was a pretty good year for the Canadian Real Estate market. Although there may still be some improvements needed in terms of the process of buying and selling homes, overall Canada is still one of the most preferred destination of immigrants. I found an interesting article outlining some of one writer’s (a Real Estate lawyer) wishes for improvements that could be made to the buying and selling process to make it less stressful for all involved. A few of his wishes are:
1. Accessibility of information – It could be helpful if insurance companies provided a 20 year history of any claims made on any home.
2. Home Appraisals – It could be helpful if banks conducted home appraisals within 5 days of receiving a home loan application, once an agreement has been signed.
3. Insurance policies – It could be helpful if buyers and sellers were required to have a 5-year insurance policy for structural defects, basement moisture issues, leaks in the roof and mold - perhaps also a 1-year policy to include electrical, plumbing, heating and air-conditioning systems in the home.
To read how these wishes could make the home buying and selling process less stressful and other improvements that could be made, click here. I think he has some good ideas!
Until next time,
Jamie
1. Accessibility of information – It could be helpful if insurance companies provided a 20 year history of any claims made on any home.
2. Home Appraisals – It could be helpful if banks conducted home appraisals within 5 days of receiving a home loan application, once an agreement has been signed.
3. Insurance policies – It could be helpful if buyers and sellers were required to have a 5-year insurance policy for structural defects, basement moisture issues, leaks in the roof and mold - perhaps also a 1-year policy to include electrical, plumbing, heating and air-conditioning systems in the home.
To read how these wishes could make the home buying and selling process less stressful and other improvements that could be made, click here. I think he has some good ideas!
Until next time,
Jamie
Friday, January 14, 2011
Mistakes Home Sellers Can Make
Have you ever tried to sell your house and it seemed to take forever for it to sell? Is your house currently listed for sale and has been sitting on the market for quite some time without any interest? Are the offers you are receiving for you home far below your set price? If your answer is “yes” to any of these questions, then you may be interested in reading an interesting article I recently came across outlining five mistakes sellers can make when trying to sell their homes.
A couple of common mistakes sellers can make are:
1. Setting The Price Too High – There is no hard and fast rule in determining the price of a home, however some sellers overestimate the value of improvements made to their home. A REALTOR® will help you assist in assessing the market value of your home in comparison to other similar house listings.
2. Not Presenting The Home in It’s Best Condition – Before deciding to put your home on the market, consider hiring a professional cleaner to make your home show it’s best. De-cluttering the home should also be part of preparing your home for sale as a cluttered home may be perceived by buyers that it does not have enough storage space.
The article discusses other mistakes sellers can make as well. I hope you find this article interesting and helpful! To view the article, click here.
Until next time,
Jamie
A couple of common mistakes sellers can make are:
1. Setting The Price Too High – There is no hard and fast rule in determining the price of a home, however some sellers overestimate the value of improvements made to their home. A REALTOR® will help you assist in assessing the market value of your home in comparison to other similar house listings.
2. Not Presenting The Home in It’s Best Condition – Before deciding to put your home on the market, consider hiring a professional cleaner to make your home show it’s best. De-cluttering the home should also be part of preparing your home for sale as a cluttered home may be perceived by buyers that it does not have enough storage space.
The article discusses other mistakes sellers can make as well. I hope you find this article interesting and helpful! To view the article, click here.
Until next time,
Jamie
Tuesday, January 11, 2011
Real Estate Sales for December
Happy New Year! 2010 saw a stabilization of the real estate market in Canada. It may be not have been the best year and did fall short of the previous year, however, overall the market was stable.
Based on the residential sales report from The MLS® System of the Barrie & District Association of REALTORS® Inc., last months sales were above a five-year average for the month. There were 193 units sold in December alone, a distinct increase as compared to the last 7 months. However, compared to December 2009, this data fell seven percent short.
The report also shows a pattern of annual sales. There were 4,105 units sold last year, one percent above 2008 but seven percent below 2009.
According to the President of Barrie and District Association of REALTORS®, Catherine Garbe, 2010 was a solid and stable year for home sales and December was the strongest month. To see more figures and data on December sales click here.
In conclusion, real estate sales in 2010 were satisfactory. Sales may have fallen short in comparison to previous years but there was no drastic decrease in percentage sales. In addition, sales performance for 2010 became stable, maintaining average sales and even increasing sales based on a month to month comparison. With good residential sales activity in 2010, we’re hoping 2011 will be great!
Until next time,
Jamie
Based on the residential sales report from The MLS® System of the Barrie & District Association of REALTORS® Inc., last months sales were above a five-year average for the month. There were 193 units sold in December alone, a distinct increase as compared to the last 7 months. However, compared to December 2009, this data fell seven percent short.
The report also shows a pattern of annual sales. There were 4,105 units sold last year, one percent above 2008 but seven percent below 2009.
According to the President of Barrie and District Association of REALTORS®, Catherine Garbe, 2010 was a solid and stable year for home sales and December was the strongest month. To see more figures and data on December sales click here.
In conclusion, real estate sales in 2010 were satisfactory. Sales may have fallen short in comparison to previous years but there was no drastic decrease in percentage sales. In addition, sales performance for 2010 became stable, maintaining average sales and even increasing sales based on a month to month comparison. With good residential sales activity in 2010, we’re hoping 2011 will be great!
Until next time,
Jamie
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