JULY MARKET STATISTICS. As the value of money plummets the value of real estate continues to climb.

2014 OCTOBER REAL ESTATE MARKET STATISTICS

Are you looking to sell your current home ?  Are you in the market trying to find a new place to call your own.  Trust a professional who puts people before profit. 

Call Jimmy Vlachos today and put your next move in the hands of a Realtor you can trust.

Jimmy Vlachos

Royal LePage Signature
416-443-0300

5 UNITS LEASED - 1 Bedroom $1550 Monthly

Prime Danforth Location. Contemporary Styled, Brand New Building, Never Occupied, First Time Offered For Lease.
Large 1 Bedroom apartment with En suite Laundry, Individually Metered Gas, Water, Electricity.  Minutes To TTC, DVP, Gardiner Exp, Pharmacies, Supermarkets, Shopping and World Class Restaurants.  Within Frankland, Earl Grey, & Riverdale School District. Units Insulated Using Resilient Channeling & Roxul Insulation. Ready To Move In & Enjoy.
2 Bachelor & 3 One Bedroom Units Available.
Hardwood floors throughout, Granite Counters, Carrera Marble backsplash, Built-In Stainless Steel Fridge, Stove, Dish Washer. All with Ensuit Laundry, Modern 4 Piece Baths, Large Closets, Pot Lights. Intercom Connects to Cell Phone.



LEASED - Stunning Apartment, Prime Danforth/Riverdale - $1325/Month

Prime Danforth Location. Contemporary Styled, High Ceiling, Large, Brand New Apartment, Brand New Built-In Stainless Steel Appliances, Chopper Block Counter, En Suite Laundry, Modern Marble Bathroom, Utilities & Parking Included. Large Bedroom & Closet. Minutes To Ttc, Dvp, Gardiner Exp, Pharmacies, Supermarkets, Shopping & World Class Restaurants. Within Frankland, Earl Grey, & Riverdale School District. No Pets No Smoking. Parking available 100/month. Parking and Property monitored by video camera.

 

SOLD 98% OF ASKING PRICE. Beautiful Reno, 3+1 Bedrooms, 3 Baths, 2000 Square Feet $499900 - Yonge St & Clark Ave

Beautiful, Fully Renovated 2000 Sf, 3 Plus Br, Gated Community Townhome. 24 Hrs Security. 30K Professional Renovation, New Hardwood & Broadloom Throughout, New Elfs, Entire Home Freshly Painted, Main Floor Total Reno From Baseboards To Kitchen - No Detail Overlooked. Finished Basement Perfect For Theater Or Additional Br. Close To Top Rated Thornhill Secondary Sch, Yonge Transit, Library, Rec Center & Places Of Worship All Just Steps From Yonge St.

Improvements Include Brand New Hardwood Floors & Broadloom. Freshly Painted. Brand New Stainless Steel General Electric Fridge & Electric Range, Hood, Bosch D/W, Double S.S Sink, Granite Counter Top, Glass B/S, Refinished Kitchen Cabinets. Existing Maytag W/D. 1 Underground Parking Space.

 

 

 

 

 

 

 

 

 

 

 

 

Fore more information or to book a showing contact

Jimmy Vlachos at Core Realty Group Inc., Brokerge 416-406-0000

SOLD (Buyers Agent) - $416/SF Penthouse unit at 155 Beecroft Rd

A friend of mine from grade school posted a grievance on facebook regarding her obnoxious neighbors, patio smoking habits.  Noise, mess, and smoke were a constant problem. The condo unit beside her was an improperly managed rental unit. 

Finally the trouble tenants moved out...only to be replaces by worse tenants.  At that point I suggested we go house shopping.

With a baby on the way, the need for a larger home, and a desire to stay in the Yonge & Sheppard area I set up a search which included the building they were currently living in. 

After visiting Donna & Ben's home and completing some minor renovations we listed the property for $279900.  I hired a professional photographer to shoot the place and make feature sheets.  I had projected a listing period of 30 to 40 days and a selling price of 269k to 275k based on recently sold, comparable listings. 

We sold the unit in 6 days for $277000 which at $462/square foot not only set a record regarding days on market but also sale price. 

Just a few days after Donna's unit sold an apartment in the same building came on the market.  A beautiful Penthouse unit with Southwest views, stainless steel appliances, and a granite counter top.



We took our time and did not rush into anything.  We looked at several other buildings close by but couldn't find anything as nice as the PH.  The Penthouse unit spent 25 days on the market and after a little negotiating we settled on a price of $416/square foot! 

All in all a deal well done.  Nothing beats a move that does not require you go outside during the winter months!

If you need help listing or purchasing a property call me, I'd be happy to help you and protect your interests.

Jimmy Vlachos Income Properties 416-953-0781 

BUYING THE FIRST HOUSE YOU SEE - how its done properly without buyers remorse. SOLD FIRM 15 Drexel Rd

I received a call last week from previous client of mine letting me know they had referred me to a family member looking to buy a home.  I would be working as the co-operating agent representing the buyers. 

After a brief discussion and a few emails I set up a property search and by the weekend we had a short list of places to see. 

 

I booked 5 showings all within $30000 of each other.  The showings were going well,  then we walked into the 4th home on the list.  The property was stunning, miles above any of the others we had seen that day.  There was a busy open house and the listing was only 2 days old.

 

My clients were talking offer the moment we walked out the door and wanted to know what to do next...

 

Have you ever been shopping for a pair of shoes, jeans, maybe a TV and find what your looking for in the first store you go into to?  For some reason any time I buy the first thing I see I end up seeing it or something better on sale for a wicked price 2 days later and feel sick to my stomach.  When I don't buy that perfect item and hunt the rest of the day to be sure nothing better is out there it's always gone by the time I return. 

 

Now that's just a pair of jeans or shoes... making that mistake with a home hurts a lot more. 

 

Prior to going out with my clients that day I told them that even if they find the perfect home on our first time out I would insist on showing them several more homes just to be sure and avoid buyers remorse.

 

If you fall in love with the first home you see (and it's not set up for multiple offers) this is what you or your agent should do:

 

1. Register an offer on the property immediately (especially if its a new listing with a very busy open house)

2. Include at least one condition (3 day financing or inspection clause will work)  

3. Submit the offer with a certified check/money draft and book appointments to view other comparable listings within the conditional period.

 

The aim is to get the property off the market by binding the sellers to an agreement you can walk away from within 2 to 3 days should something else be found.  Don't go looking at more houses without first tying down the one that feels right.  The premise is you've fallen in love with a home but want to protect yourself from your own ignorance, it's the first home you've seen not the 15th. 

 

Make sure your deposit is certified because if you choose to walk away certified funds are released sooner than non certified funds and most people don't have two deposits sitting around.

 

Now that everything is tied up and you've secured the property go have a look at similarly priced properties currently listed.

 

In my opinion an agents job is to protect and advise his/her clients and provide the proper strategy for each deal.  The general paper work, the showings etc...  not exactly rocket science, protecting people even when it may come at a financial expense is how an agent is supposed to earn their keep.

 

I booked 6 showings in the immediate area, all comparable in size, style, and age, within $30000 of the desired property.  It took us 2 hours and in the end my clients were 100% sure they made the right decision.  Every home we visited made the property they conditionally purchase look better.

 

We waived our conditions and the deal will close at the end of the month. 

 

When it comes to Real Estate you want to avoid surprises, disappointment,  and excitement.  Always do your due diligence.  Strategies exist to make sure your making the right move you just need someone with the knowledge to employ the proper strategy at the proper time.

 

Oh, regarding shoe shopping, ask the store to hold your desired item for a few hours and take a business card...  My girlfriend Samantha taught me that. 

 

Jimmy Vlachos - Core Realty Group Inc., Brokerage - 416-953-0781

 

 

SOLD FIRM - PRIME EAST SIDE BAKERY/COMMERCIAL RETAIL 10 YEAR LEASE

Beautifully Finished 1780 Square Foot Commercial/Retail Space Available In The Heart Of Riverdale/Leslieville. Perfect For A Bakery, Restaurant, Or Food Related Business With All The Necessary Chattels Included In The Sale Price. Excellent Location With Many Possibilities.

Everything Is In Mint Condition. Wheelchair Accessible And Univerdal Bathrooms. 10 Year Lease In Place - Below Market Rent. Net Rent And TMI Rent Information Available For Serious Buyers. All Existing Chattels Included. 400 Amp Service. 1 Car Parking.

Contact:

Jimmy Vlachos

Core Realty Group Inc., Brokerage

416-406-0000
Jimmy@incomepropertiesto.com

SOLD 99.25% of asking price - Beautiful 4 Bedroom/4 Bathroom Home

Stunning 4+1 bedroom/4 bath  home in desirable Barton Farms, Uxbridge ON. Fully renovated by a true professional.

Stainless steel  kitchen appliances, granite counter tops, stainless steel  tile back splash, with  breakfast area over looking the yard.



Premium wide plank  hardwood floor throughout.

Master bedroom features W/O to private deck with Hot Tub, W/I Closet and ensuite master bath straight out of a magazine.

4th bedroom was converted into a open concept dressing room combined with master bedroom. Built-in cabinetry  and vanity included.
The owner is willing to convert the dressing room back into the 4th bedroom if so desired by the purchaser.

Brand new, high end, finished basement with Theater room wired for surround sound with French door leading to office space, large games/family room,  bedroom with double closet sliding doors, 2 piece powder room, and a work shop.
Theater room can easily be used as an additional bedroom with a large walk in closet if desired.
The basement is finished in premium laminate flooring, pot lights, wall sconces,  a dark stain French doors.   

44 Barton Lane is walking distance to area schools, downtown shops and eateries and snowmobile trails.

For a list of chattels included with the sale of the property, room dimensions and general information contact:

Jimmy Vlachos
Core Realty Group Inc., Brokerage
416-953-0781   

Banksy Piece To Become Part Of Toronto Condo Development

"The thought was it would be natural to put that back there and let the public enjoy it," said Mark Karam, Menkes vice president. "The idea that's being talked about would be to put it somewhere where it's accessible to the public." 

 

The original 2010 Banksy mural as it appeared on a wall at 90 Harbour Street (Photo: AP)

 

Click below for the full article:

http://www.cbc.ca/strombo/alt-news/banksy-piece-to-become-part-of-toronto-condo-development.html

Rent-to-own works, but beware of the pitfalls.

Renting to own a house can be a very effective way for a buyer without enough of a down payment to buy a home. But do your homework.

Following the link to the Toronto Star for the article:
http://www.thestar.com/business/personal_finance/2013/07/30/renttoown_works_but_beware_the_pitfalls.html

ADDING VALUE AND DEMAND THROUGH RENOVATIONS - SOLD 97% of asking price,110% OF PRE RENO EVALUATION

This deal was a doozy.  When I first saw this unit it was in desperate need of renovation in order to freshen the space after years of operating as a rental unit.  It is important keep a little rental income aside to handle renovation costs when it comes time to sell. 

Unfortunately due to all the new developments in Toronto, condos that were built only 5 or 10 years ago look old and dated.  Each new condo development uses the latest finishing materials and color trends.  Every new development sales center is styled with the latest and greatest to attract new buyers in a very competitive market.  Not all trends stand the test of time and materials that were once sought after become tacky or look cheap. 

It is important to repair the wear and tear an income property goes through and replace old and dated materials with something new and fresh.  When my clients budget allows I like to focus on using classic materials like Carrera marble, flat panel or shaker door fronts, clean, sleek hardware, and good'ole white paint.  Classic materials stand the test of time and while premium martials cost more upfront they also add to the desirability and inevitably the sale price of your property.

The renovation cost $9000.00 including labor and material.  My clients had budgeted for renovations  but even had they not we easily could have secured an equity loan from their mortgage to do the work.  Prior to the renovation I estimated the value  of  the 2 bedroom, 2 bathroom, 1 parking space waterfront condo between $429 to 439000.00  After the Reno we decided to list the unit at $489900.  

After a few weeks on the MLS I was able to secure a purchase price of $475000.00 which is $35-45000 above the initial valuation.

For every dollar my clients spent on renovations they received $4.45 in return, that's a 225% return on investment. A little paint, new carpet, new cabinet doors and hardware, and less than 100 Square Feet of premium finishing materials added 10% to the overall sale price.

It was not easy, and it didn't happen overnight but most Canadians work a lot longer than 3 weeks to earn $310000.

The moral of the story is income properties can fatten your pockets not only while you hold them but while they're on the way out of your portfolio as well.  Every penny counts and with the proper agent by your side even a little can go a long way. 

Before:   

                                              

            

        

Jimmy Vlachos - Core Realty Group Inc., Brokerage - 416 953 0781

Five Reasons Why You Still Need A Real Estate Agent

Forbes Magazine

"Doing the work yourself can save money, but it could end up being more costly than a realtor's commission in the long run."

http://www.forbes.com/2010/05/25/why-you-need-real-estate-agent-personal-finance-commission.html

Definitely an article worth reading if your considering buying or selling real estate!

Pressure mounts for Ontario to extend rent controls to all tenants.

A complex problem for any city.  How do you provide affordable housing and at who's expense.  I can tell you from a Landlords perspective the rent roll increases allowed by the city are not realistic and penalize Landlords.  I am also aware that incomes do not increase in line with general inflation.  I do find it interesting that while rents are controlled our insurance premiums are some of the highest in the country.  What about cell phone premium controls or heating/electrical controls? 

I would really love to hear peoples perspective on this article - landlords and tenants.

"Toronto city councillor Anthony Perruzza is so concerned about similar complaints from tenants in his renter-heavy North York ward, that this week he introduced a motion before executive committee  urging the province to make all rental units — including investor-owned condos — subject to rent controls “to level the playing field” in the city’s tight rental market"

CHECK THE LINK BELOW FOR FULL ARTICLE.

http://www.thestar.com/business/real_estate/2013/05/31/pressure_mounts_for_ontario_to_extend_rent_controls_to_all_tenants.html

FOR SALE Prime South Riverdale 3 Bedroom 1 Bath $469900

Attached/Row House That Feels Like A Semi Waiting For Your Personal Touch. Spacious 3 Bedroom Home, Bright And Airy. Private Back Yard. Original Oak Hardwood Floors Throughout. Great Bones, Solid, High, Dry Basement With 2 Sep Entrances. Ttc At The Bottom Of The Street. Minutes To Pet Friendly Monarch Park & Greenwood Park, Elementary School, Goodlife Fitness, Lcbo, Summer Farmers Market, 15 Min Walk To Beaches. Enjoy Queen East & Danforth. Make It Yours.

Stainless Steel Lg Gas Range & Large Double Door Lg Fridge With Bottom Freezer. Washer Dryer. Front Patio. Breakfast Area Would Make A Beautiful Sliding Door Walk Out To Custom Deck. Back Yard Seeded For New Grass. Clean Pallet Unfinished Basement.