Scarborough Real Estate Agent Juvan Mariathasan can explain your options.
Reason why Toronto Real estate is expensive.
Foreign Investments, Access to goods and services ,
Public Transportation, Development / Construction.
Supply vs Demand;
The old city of Toronto is entirely surround by the “inner burbs” that are in tern completely surrounded by the “outer burbs” (with an exception for where Scarborough bumps up against the Rouge Valley). This means that there are no lands available for new development and instead old areas must be redeveloped. This has the effect of restricting the supply of housing while there is a high demand for houses. When more people want to buy homes than there are homes available, prices go up.
Move out of the city
Toronto is expensive, especially for first-time home buyers. But considering a move out of the city doesn’t mean trading in your downtown Toronto neighborhood for “boonies-style-living”.
Over the past two years, I have helped a considerable amount of people realize their home buying dreams in areas just outside and around the city.
Scarborough’s borders are Victoria Park Avenue (North York, East York, and Old Toronto) to the west, the Rouge River, the Little Rouge Creek and the Scarborough-Pickering Townline (Pickering) to the east, Steeles Avenue (Markham) to the north, and Lake Ontario to the south.
Some of these areas, including East Scarborough (Port Union Area), Pickering, Ajax and Whitby, and in great school districts. They have local festivals, beautiful parks, and amazing restaurants. In some more outlying areas, transit can even be faster and more reliable than in more central locations. Many of us don’t even considered moving out of the city until someone can show them how much further their money could go in the surrounding GTA.
At the end of the day, you need to figure out what’s most important to you and then consider what strategy is going to help you achieve your goals. Do you actually like the benefits of city living or are you just afraid of commuting? Are you planning on any major life changes in the coming years? Is owning a home important to you or just another societal expectation that you couldn’t care less about?
Buying a home in Toronto is a huge decision, make sure you are weighing all the pros, cons, and financial implications of your potential decisions. I can help you in every step to be your professional guide on acquiring your dream home.
A bit more about Scarborough
A train on Line 3 Scarborough leaving Kennedy Station
Scarborough is at the eastern terminus of Line 2 Bloor–Danforth of the Toronto subway system. There are three subway stations in Scarborough: Victoria Park, Warden, and Kennedy. Beginning at Kennedy station, Line 3 Scarborough, also known as the Scarborough RT, runs north and east toward Scarborough City Centre. It runs at grade for two stops until Ellesmere Road where it becomes elevated until it reaches its terminus at McCowan Road. Feeding the rapid transit stations are the extensive bus routes operated by the Toronto Transit Commission (TTC) in Scarborough. Metrolinx is planning an extension of Line 2 to Scarborough City Centre and the closure of Line 3 due to its aging infrastructure. Line 5 Eglinton is a light rail line under construction, which will have its eastern terminus at Kennedy station.
Two commuter rail lines operated by GO Transit run through Scarborough connected by seven stations. The Lakeshore East line runs across the south end of the district, while the Stouffville line runs north-south in the west end of Scarborough. GO Transit also has a few bus terminals and stops in Scarborough.
Roads and highways
The arterial roads of Scarborough were laid out on a grid system of north-south and east-west. Kingston Road and Danforth Road were laid out prior to the surveying of the township, and both run diagonally in a southwest-northeast direction across the south end of Scarborough. From north to south, the major east-west arterial roads are Steeles Avenue, Finch Avenue, Sheppard Avenue, Ellesmere Road, Lawrence Avenue, Eglinton Avenue and St. Clair Avenue. From west to east, the major north-south arterial roads are Victoria Park Avenue, Pharmacy Avenue, Warden Avenue, Birchmount Road, Kennedy Road, Midland Avenue, Brimley Road, McCowan Road, Bellamy Road North, Markham Road, Neilson Road, Morningside Avenue, Meadowvale Road and Port Union Road.
Kingston Road was formerly Ontario Highway 2, and was the main highway through Scarborough until the building of the Highway 401, which runs east-west across the middle of Scarborough, with six to eight lanes in each direction. The short, minor freeway Highway 2A runs parallel to Lake Ontario in the eastern part of Scarborough. In the 1960s, Metropolitan Toronto planned to build a second east-west highway across Scarborough. It was intended to link Highway 2A with an eastern extension of the Gardiner Expressway. The highway, known as the Scarborough Expressway, was cancelled due to public opposition.
Water, sewage and hydro
Scarborough’s drinking water is supplied by the R.C. Harris Filtration Plant at the foot of Victoria Park Avenue and the F.J. Horgan Filtration Plant. The F.J Horgan Filtration Plant was built in 1979 and was formerly known as the ‘Easterly Plant’. Upgrades completed in 2011 allows it to process up to 800 Megalitres/day and it will also be the first plant to replace chlorine with ozone as its primary cleansing method. Wastewater for Scarborough is treated at the Highland Creek Water Pollution Control Plant. This plant was constructed in 1954 and started processing in 1956. It has undergone continual expansion to meet ongoing demand. Electricity is mainly provided in Scarborough by Toronto Hydro.
Early garbage collection in Scarborough was performed by individual communities and dumped in local landfills which were located in nearby ravines. In 1967 waste collection was reorganized. Local landfills were closed and most of the garbage was directed to a new landfill on Beare Road in eastern Scarborough. This dump was eventually closed in 1981. A waste transfer site was constructed near Markham Road and Sheppard Avenue East. From there garbage was trucked to the Keele Valley dump in Vaughan and the Brock Road dump in Pickering. In 2002 the Keele Valley landfill was closed. As part of Toronto’s overall waste management, garbage was then trucked to Michigan. This arrangement lasted until 2010 when garbage was sent to the new Green Lane landfill site in Elgin County.
Parking: one owned underground space, one owned locker
Maintenance fees: $705.00 per month
Taxes: $8,709 (2018)
Bedrooms: 2 plus 1
This three-bedroom suite with a wraparound balcony and panoramic view is one of the largest in the iconic, 75-storey highrise One Bloor.
Yonge St. and Bloor St. E.
Asking price: $2,298,000
Size: about 1,410 sq. ft.
East Realtors are asking all of our previous clients to take advantage of these government GreenOn funds.
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Discover the greenhouse gas savings opportunities available to you at https://greenon.ca/
Whether buying or selling your home, you have several decisions to make.
Should you work with a REALTOR®? Which real estate company will provide the best value? Which REALTOR® within that company will be best suited to help you through the process?
We reached out to the RE/MAX Influencers: A panel consisting of RE/MAX Sales Associates from throughout Canada. We asked them: Why should a consumer work with RE/MAX when he/she has so many options out there?
Chances are, you would have a hard time finding someone who has never heard of “RE/MAX.” With 100,000 Sales Associates in nearly 100 countries worldwide, the RE/MAX name—along with the iconic balloon—represents a professional organization that has become an industry leader.
RE/MAX also advertises through many mediums, including: Television, print, online and physical signs such as NHL rink boards. This high level of exposure will go to work for you when listing your property. Many RE/MAX Sales Associates are also affiliated with the Children’s Miracle Network; therefore, the sale of a RE/MAX Miracle Home will help support your local children’s hospital. According to ComScore, RE/MAX Canada also leads other real estate brands with its significant traffic to remax.ca.
“In an uncertain market, consumers become less speculative. Instead, they rely on proven brands to reinforce their efforts to manage one of their most important investments. They rely on the experience and expertise that has made RE/MAX one of the most recognizable brands in the real estate world.”
RE/MAX Sales Associates have the experience to get the job done in today’s market.
The vast majority of our membership are full-time agents who are experts in their local communities. They work hard and are committed to help their clients through the home buying or selling process. *RE/MAX agents sell more real estate than any other Canadian brand.
“RE/MAX is often a collection of the top REALTORS® in any given marketplace. RE/MAX also has an international network: This type of network could be where the buyer of my client’s home comes from.”
Training and Support
RE/MAX supports all of its Sales Associates with comprehensive training and ongoing support.
Our affiliates are highly skilled and educated, and they have the latest tools and technology at their fingertips. They are motivated to put this knowledge and experience to work for you!
Subject to change without notice.
Please contact Juvan Mariathasan to get further details.
|Chestnut Hill Developments||SF3 Condominiums||Apartment||N/A||$2,000 in decor dollars; 1 year FREE maintenance fees; 10% paid in the first year.|
|Tribute Communities||Towns at Rouge Valley||Stacked||E10||$2,000 in decor dollars; 1 year FREE maintenance fees; 10% paid in the first year. Confirmed on 02/12/2018. Subject to change without notice.|
|Tribute Communities||Max Condos||Apartment||C8||
|Tribute Communities||Stanley Church + Carlton||Apartment||C8||Development Charges Capped at $6,900+HST for one bedroom plus den and smaller units; $8,900+HST for two bedroom and larger units. Meters Capped at $400 per (sub) meter; $1,500 +HST (capped) for all building utility connections
|Market Watch||All links are PDF files|
GTA REALTORS® Release December/Annual Stats
January 4, 2018 — Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 92,394 sales through TREB’s MLS® System in 2017. This total was down 18.3 per cent compared to the record set in 2016.
Record sales in Q1 were followed by a decline in Q2 and Q3 after the Ontario Fair Housing Plan (FHP) was announced. The pace of sales picked up in Q4, as the impact of the FHP started to wane, and some buyers arguably brought forward their home purchase in response to the new OSFI stress test guidelines effective January 1, 2018.
“Much of the sales volatility in 2017 was brought about by government policy decisions. Research from TREB, the provincial government and Statistics Canada showed that foreign home buying was not a major driver of sales in the GTA. However, the Ontario Fair Housing Plan, which included a foreign buyer tax, had a marked psychological impact on the marketplace. Looking forward, government policy could continue to influence consumer behavior in 2018, as changes to federal mortgage lending guidelines come into effect,” said Mr. Syrianos.
The average selling price for 2017 as a whole was $822,681 – up 12.7 per cent compared to 2016. This annual growth was driven more so by extremely tight market conditions during the first four months of the year. In the latter two-thirds of 2017, fewer sales combined with increased listings resulted in slower price growth. In December, the MLS® Home Price Index (HPI) Composite Benchmark was up by 7.2 per cent year over year, and the overall average selling price was up by 0.7 per cent year over year.
“It is interesting to note that home price growth in the second half of 2017 differed substantially depending on market segment. The detached market segment – the most expensive on average – experienced the slowest pace of growth as many buyers looked to less expensive options. Conversely, the condominium apartment segment experienced double-digit growth, as condos accounted for a growing share of transactions,” said Jason Mercer, TREB’s Director of Market Analysis.
|Click here for complete report||Click here for Historic report|
In conjunction with TREB’s redistricting project, historical data may be subject to revision moving forward. This could temporarily impact per cent change comparisons to data from previous years.
From the low $400’s**
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|at Vaughan Mills|
Charisma offers residents an impressive array of amenities including a Games Room, Theatre Room, Pet Grooming Room, Bocce Courts + Lounge, as well as a 7th Floor Outdoor Pool, Wellnes Centre and a Rooftop Skyview Lounge + Terrace.
416-273-4114 for further details.
1.795 new homes sold in the Greater Toronto Area in August, 681 were multi-family while 114 were low-rise single-family homes.
2. August was by far the lowest sales total for the year so far, but even with the slowdown, 2017 has still seen 31,749 homes sold in the first 8 months of the year.
3. That total is enough to put 2017 in contention for being a record year for new home sales, at least when it comes to multi-family. BILD says that the “overwhelming majority of the 31,749 new homes purchased so far this year were multi-family units, condo apartments in high-rise and mid-rise buildings and stacked town-homes.”
4. Year-to-date new home sales in 2017 are 28 per cent above the 10-year average. BILD and Altus Group point out that they’re also still ahead of where 2016 was at the same point.
5. Low-rise sales have continued to plummet in 2017, a trend that has been playing out over the last several years. “The longer-term decline in single-family’s share of new homes sales has now kicked into hyperdrive…” says Patricia Arsenault, Executive Vice President of Research Consulting Services at Altus Group.
6. The pronounced sales drop was accompanied by a small increase in builders’ inventories, with 6,608 multi-family homes and 1,880 single-family low-rise homes available. This is “far below what is considered a healthy level” according to BILD.
7. Prices continued to post significant annual gains, with the average new multi-family home price up 34 per cent to $644,327 and the average new single-family home price up 38 per cent to $1,289,298.
8. But when it came to month-over-month price comparisons, August prices fell short of July’s results. In July, average low-rise and high-rise home prices for the GTA were $1,316,693 and $665,041, respectively.
9. August’s average unit size for new condos was 859 square feet, down from 871 square feet in July, but up from 808 square feet a year earlier.
10. August’s average price per square foot for new condos was $750, down from $764 in July, but well above the $595 recorded a year earlier.
Toronto’s roller-coaster real estate market took a swoop lower in August, the fourth-straight month that the average sales price in Canada’s largest city declined from a dizzying record high set in April.
The Toronto Real Estate Board said Wednesday the average price for all home types in the Greater Toronto Area last month was $732,292, down 1.8 per cent from July and 20.3 per cent below April’s Greater Toronto Area average of $919,086.
The Ontario government introduced more than a dozen measures in April, including a 15 per cent tax on foreign buyers, following a price spike in the first months of the year, which started with an $768,301 average Greater Toronto Area price in January.
Sales in the Toronto area have cooled since the Ontario government’s move and August sales continued that trend with a 34.8 per cent plunge from the same month last year.
Premier Kathleen Wynne says April’s 16-point plan was responding to a “really overheated” market.
“It’s had a cooling effect. We don’t know exactly what all of the factors are there, but we’ll be working with the real estate board both in Toronto and beyond to make sure we got it right,” Wynne said Wednesday.
According to RBC economist Robert Hogue, Toronto is likely to follow Vancouver’s experience in the wake of market-cooling policy. Sales in that West Coast city increased 22.3 per cent in August from the same month last year, when the provincial government first introduced a 15 per cent foreign buyers tax.
“Our view is that the market has largely adjusted to Ontario’s Fair Housing Plan and should maintain balance between supply and demand,” Hogue wrote in a note Wednesday.
“Developments in Vancouver — which went through a similar policy-induced market correction last year, suggest that the bottom for prices may be near in the Toronto area.”
Despite August’s decline to the lowest average price reported by the Toronto Real Estate Board so far this year, it’s still up three per cent from the same month in 2016.
Condo apartments, which accounted for 31.4 per cent of the volume, had an average price of $507,841 — up 21.4 per cent from August 2016.
The real estate board number of new listings last month was 11,523, the lowest for an August since 2010. But the number of active listings was 16,419, up 65 per cent from August 2016, and the average days on market rose to 25 from 18.