Saturday, January 7, 2012

Coca Cola to leave Thorncliffe Park

Coca Cola is slated to depart its long-time premises at 42 Overlea Blvd later this year or early next. A decision has been taken to house the company in a three-storey addition to the Toronto Sun building on King Street East. The Thorncliffe neighbourhood will no doubt be sorry to see Coke leave. The future of its present home, built by the company is 1965, is unknown. The operation there consists of sales and administration only, as the bottling side of the operation migrated to Brampton a decade ago. Coke is calling this change a “Live Positively” move. It apparently thinks life will be more vibrant downtown. It will, says Coke, permit employees to walk, bicycle or take public transportation to work.

Thursday, November 10, 2011

Downtown Condo Development Drives Demand for Office Space

Toronto Star, Thursday November 10, 2011, Byline: Susan Pigg

http://www.metronews.ca/toronto/local/article/1020386--condos-send-demand-for-office-space-soaring

All those new downtown condos that are now home to bright young workers are helping drive demand for office space away from the suburbs and back into Toronto's core, a new report says.

Also fuelling the increasing demand - so strong that the vacancy rate for downtown office space fell to 5.1 per cent in Q3 - is interest in new environmentally sound office towers, redevelopment of the waterfront and frustration with long commutes.

Toronto isn't alone, according to commercial real estate brokerage Cushman &Wakefield's Occupier Insight Report released Wednesday. Major U.S. cities such as San Francisco, Chicago, New York, Boston and even downtown Los Angeles are also seeing a significant shift from the suburbs, although their office vacancy rates are still more than double that of Toronto's.

"Major downtown office markets in North America are thriving in the face of turbulent global economic conditions thanks to smart urban planning which has opened the doors to a younger, educated and plugged-in population that prefers to live, work and play close to home," says the report.

But compounding that demand in Toronto is an unprecedented condo boom, with some 70,000 new units built in or close to the downtown core in the last five years, notes the report. Another 17,000 are under construction or due to open by year's end.

That's provided an instant workforce for the 4.5 million square feet of office space has been added to the downtown core in the last two years alone, with more coming especially in the waterfront area.

While many commercial real estate experts had expected the 2008 recession to slow demand and push office vacancy levels well beyond the 2001 highs of 11.9 per cent, Toronto showed remarkable resilience, the report notes.
Only Vancouver has a lower office vacancy rate than Toronto, at 3.7 per cent, but largely because of limited building activity, said Stuart Barron, national director research for Cushman &Wakefield.

Much of the demand for downtown Toronto space has come from the financial sector, which is increasingly expanding into the Railway Lands south of Front St., the report notes. But Barron said it's increasingly coming from a raft of companies opting for the core, such as Coca-Cola, Google, SNC-Lavalin, as a way to be close to the workforce of the future.

Sunday, October 30, 2011

Toronto Third Quarter condo sales hot!

Greater Toronto REALTORS® reported 5,770 condominium apartment transactions through the TorontoMLS® system in the third quarter of 2011, representing a 24 per cent increase over the same period in 2010 released its new quarterly condo market report. The average selling price increased by almost nine per cent to $333,352.

"Condominium apartments have accounted for about one-quarter of total existing home sales in the GTA this year. This share is expected to increase moving forward, as new home sales and construction has become increasingly driven by high-rise construction," said Toronto Real Estate Board President Richard Silver.

Monday, October 17, 2011

Grant Program to Make Your Home More Energy Efficient Extended

The Government of Canada has renewed the popular ecoENERGY Retrofit – Homes program. From June 6, 2011, until March 31, 2012, homeowners are eligible to receive grants of up to $5,000 to make their homes more energy-efficient. Homeowners who participated in the program to date have saved 20 percent on their energy bills.

There are two important changes to the program. First, there is a requirement for participants to register directly with the program before booking their evaluation. Second, homeowners will now be required to provide receipts to their energy advisor at the time of the post-retrofit evaluation to confirm eligibility for the grant.

How to apply
The first step in the renewed ecoENERGY Retrofit – Homes program is to register:
* New participants - If you or a previous owner have not obtained an energy evaluation of the property between April 1, 2007 and June 5, 2011.
* Past participants - Homeowners who participated in the program between April 1, 2007 and June 5, 2011, and who did not receive the maximum amount of $5,000 can submit another application for improvements purchased and installed on or after June 6, 2011.
If you plan to apply for multiple properties, a form must be completed for each one.

Only products purchased on or after June 6, 2011, and installed after a pre-retrofit evaluation are eligible for an ecoENERGY grant. Funds are limited and all energy retrofits and post-retrofit evaluations must be completed by March 31, 2012. The homeowner must also sign the grant application by this date.

For more information:
The Grant Table for ecoENERGY Retrofit – Homes offers an overview of the program and a breakdown of eligible upgrades.
http://www.ecoaction.gc.ca/ecoenergy-ecoenergie/retrofithomes-renovationmaisons-eng.cfm

Friday, October 7, 2011

Preparing your Home for Winter

As the cold weather approaches and the first snowflakes begin to fall, it is important to ensure your home is winter-ready. There are plenty of simple ways to winterize your home without breaking the bank, with a positive effect on lowering your heating bills.

INTERIOR: First, inspect your furnace and replace the filter. Stock up on furnace filters and be sure to change them every month.

Next, have your fireplace cleaned so it will be ready for use. Screen the top of your chimney to keep out rodents and birds and store firewood in a dry place away from the outside of your home. Inspect the mortar between bricks to make sure that your fires remain contained within the hearth. And, ensure all smoke and carbon monoxide detectors have had the battery replaced.

EXTERIOR: Examine the exterior of your home for cracks and crevices, which could allow cold air to seep inside. Apply weather-stripping around doors and caulk windows. Homes with basements and attics are prone to cold drafts.

In basements, consider covering window wells with plastic wrap. When the warm weather returns, you can remove the wrap. Warm air rises, so adding extra insulation to your attic will ensure the warmth stays where it's needed. "These small, but important steps can make a huge difference on your heating bill," says Yvonne Ratigan, a senior executive with Royal LePage Canada. "Time and a little money spent in the fall, can pay big dividends in the winter."

GARDEN: Prune trees and shrubs to minimize potential for damage by snow, particularly those that hang close to the home. Clear out planters and store for spring and dust plant bulbs with bone meal. Drain all garden hoses and shut off outside water. If we enjoy a warm day, it may be a good time to seal the driveway or deck.

Wednesday, October 5, 2011

What's The Real Story of the Canadian Housing Market

Nationalpost.com, Wednesday October 5, 2011
Byline: Financial Post

Home prices rose during the third quarter of 2011, but the raw numbers may not be telling the whole story of the Canadian housing market, a new survey says.

The Royal LePage House Price Survey released Wednesday found that the average price of a home in Canada increased between 5.7 and 7.8 per cent in the third quarter of 2011 compared to the same period last year.

The average price of a detached bungalow was $349,974, a standard two-storey home was $388,218 and a standard condominium was $239,300, according to the survey.

Royal LePage said that the rise in price defied expectations and suggested that record-low interest rates and a fairly stable Canadian economy have bolstered consumer confidence.

However, the third quarter of 2010 was a relatively weak period for housing prices, which makes the increase this year appear rosier than they are and may mask a decline in prices in the months ahead, it said.

"The strength in Canada's national housing market conceals signs of predictable softening in some regions," Phil Soper, president and chief executive of Royal LePage Real Estate Services, said in a statement.

"A broader slowdown is expected in the months ahead, but fears of a U.S.-style correction are completely unfounded."

Vancouver had the highest priced homes in the country during the third quarter of 2011 and was the only city in the survey where the average bungalow or two-storey home cost more than $1 million.

Halifax, Montreal, Toronto, Saint John, N.B., and Ottawa all saw prices increase between 4.4 and 10.4 per cent.

In Alberta, the volume of homes trading hands increased, but prices stayed soft, the survey found: Detached bungalows in Calgary fell one per cent in the third quarter.

Victoria was similarly weak, with detached bungalows and standard two-storey homes falling two and 1.1 per cent respectively.

Friday, September 30, 2011

Housing Market Should Remain Stable in 2012

Byline: Kim Covert, Edmonton Journal

Housing sales and prices should remain fairly steady into next year as a slowing economy is balanced by low mortgage rates and relatively low unemployment, a report from BMO Capital Markets suggests.

"Low interest rates have fuelled Canada's housing market in the past decade, pushing prices to new highs in most regions," senior economist Sal Guatieri said Thursday. "However, a weaker economy and new mortgage rules have dimmed activity recently."

Resales have slowed to their past-decade norm under tougher mortgage rules introduced by the federal government in March, and prices have flattened in the last six months on a seasonally adjusted basis, Guatieri said in the report.

The slowing global economy should hold the Bank of Canada from raising its benchmark interest rate - now a near-record low of one per cent - before 2013. As well, an unemployment rate expected to remain around 7.3 per cent through next year should mean continued confidence on the part of homebuyers.

Just as the economies in resource-rich provinces such as Alberta and Saskatchewan are expected to out-perform other regions next year, so too is the housing market in those provinces, Guatieri said.

Thursday, September 29, 2011

Home Safety Tips for Seniors

More than half of all injuries experienced by Canadian seniors are due to falls. According to the Public Health Agency of Canada, nearly half of all injuries among seniors occur in the home, and 15 per cent of falls occur in the bathroom or stairs.

Since the likelihood of serious injury, or even death, increases as you age, take steps to increase safety in the home. Many seniors limit their daily activities and, ultimately, their quality of life to avoid getting injured," says Kelly McCain, a senior director at Royal LePage Canada, "However, a few safety measures at home can improve life all around for Canadian seniors."

To stay safe while maintaining your independence, McCain offers these suggestions:

Ensure all rooms and hallways in your home are well lit and clear of obstacles.

Reduce slipping hazards by removing non-rubber-backed throw rugs and mats on hard flooring surfaces, such as hardwood or ceramic floors.

Install nightlights near stairs and eliminate all clutter.

Make sure that there are solid handrails on both sides of the stairway.

If you have wood stairs, consider installing a carpet runner down the middle or adding traction strips to provide steadier footing.

In the bathroom, make sure that your tub and shower surfaces are non-slip. Install grab bars in your bathtub or shower and purchase rubberized or non-skid bath mats.

Increase safety in the shower by purchasing or renting a bath seat. Some are designed specifically to make your entrance and exit from the tub easier. If you require the use of a bath seat, a hand-held shower head will work best.

Consider purchasing a wireless phone set that allows for a phone on each floor of the home, and populate the digital phone book on all telephones with emergency contact numbers.

Follow these simple safety tips and spend less time worrying, and more time enjoying your home. More information is available at www.royallepage.ca.

Monday, September 19, 2011

GTA REALTORS® September Mid-Month Resale Housing Figures

Greater Toronto REALTORS® reported 3,149 transactions during the first 14 days of September, representing an increase of more than 25 per cent in comparison to the first two weeks of September 2010.

New listings over the same period, at 6,890, were up by 14 per cent compared to last year.

The average selling price in the first half of September was $454,194 – an increase of 11 per cent compared to the same period in September 2010.

“Strong price growth in the GTA continues to be mitigated by a solid affordability picture. Mortgage rates will remain at or near current levels until the second half of 2012 if not into 2013,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.

“In response to strong price growth, more households chose to list their homes for sale in comparison to last August. Growth in listings is expected to continue. Increased choice will result in more sustainable rates of price growth,” continued Mercer.

Thursday, September 8, 2011

Hot Toronto Real Estate market continues

TREB released its August resale market figures today. The report shows that Greater Toronto REALTORS® reported 7,542 sales through the TorontoMLS® system in August – a 24 per cent increase over 6,083 sales in August 2010. New listings, at 12,509, were up by 20 per cent compared to August 2010. Market conditions remained tight as sales growth outstripped growth in new listings.

"Home sales in the GTA have stood up well despite a less certain economic outlook," said Toronto Real Estate Board President Richard Silver. "Home sales will be bolstered by low mortgage rates moving forward. The Bank of Canada is expected to be on the sidelines until the second half of 2012 or even into 2013. However, home ownership affordability in the City of Toronto could be further improved with the removal of the City’s land transfer tax. This tax currently represents a substantial upfront cost for home buyers.”

Wednesday, August 24, 2011

Roof repair: How to stop the sky from falling

by Shelley White from Tuesday's Globe and Mail
Published Tuesday, Aug. 23, 2011 6:18AM EDT

When Toronto lawyer and property manager Sheila Collin first hired a roofer to repair two of her properties, she felt she had done her due diligence.

“The roofer had done work for someone that I have known for many years who said they’d done a spectacularly good job for a reasonable price, and they recommended them wholeheartedly,” she said.

Ms. Collin spent close to $75,000 in total roofing costs on an 8,000-square-foot mixed commercial/residential building and another 10,000-square-foot commercial property. After a particularly harsh winter, however, both buildings were suffering significant water leakage. When she attempted to get the roofer to remedy the continuing leak problems, it initially did a mediocre patch job (which didn’t hold), then stopped answering her calls. Finally, the company representatives just seemed to disappear.

“What I learned is you might be dealing with someone who was recommended by a previous customer, but by the time you get them they may not even [have] the same crew of people,” she said. “They change their company names and phone numbers. You can report them to the Better Business Bureau, but it doesn’t do any good.”

In the end, Ms. Collin had to employ another roofing company to tear out everything that had been previously done and reroof the buildings, which ended up costing her as much as she’d spent in the first place.

It’s the kind of calamity that strikes fear in the hearts of homeowners.

The spectre of leaks and water damage is nerve-racking enough, but with costs that can start at $5,000 and rise to $20,000 or more, a new roof can be a crippling expense.

But there are ways to minimize your risk and keep the roof over your head intact.

The first step in roof maintenance is determining whether you need work done well before you spring a leak. Craig Bennett, deputy executive director of Avenue Road Roofing in Toronto, says that there are some red flags to watch for.

“Observe the appearance of your shingles,” he says. “Specifically, look for curling or clawed shingle tabs, look for areas of excessive ‘granule’ loss [on the surface of the shingles]. In terms of age, a roof that is 15 years old should be inspected.”

Homeowners can also check to see if any of the metal flashing on the roof has pulled away or the caulking has dried out. If you have attic access, look for water marks or the appearance of mould (black marks).

Once you’ve determined that your roof needs work, it’s time to find a contractor. Mark Benerowski, a Toronto building inspector for the past 10 years, says that references from friends and family are a good way to start, but it’s important to get at least three quotes – he suggests getting 10 – before deciding on a contractor.

“Sometimes the larger companies can be good to go with, but a company is only as good as its installer. Ask if they’ve expanded a lot in the last couple years. How much experience do your installers have? How many installers can I expect to be on the job?”

Because a roofing job should last 15 years or more, look for a roofer who is going to stay in business. Mr. Bennett says that although many consumers won’t require it, it’s wise to look for companies that are bonded, which demonstrates that the contractor has had to withstand stringent business scrutiny.

“Also, look for roofing contractors who have been certified by the product manufacturer to install their products,” he says. “Ask to view a job in progress and speak with several past clients, particularly those who required warranty service.”

Other essential elements to watch for are safety and insurance, Mr. Bennett says. Consumers should ask to see a company’s health and safety policy, and ensure they have adequate insurance for the job at hand.

To further protect yourself, Mr. Benerowski advises that specifications be included in any contract or quote. “Don’t let them just put down three-tab shingle installation,” he says. “You want specifications as to flashing, the brand name and warranty of your shingle, the underlayment that will be used, how much ice shield, how high the ice shield is going to be.” (If the terms and details of roofing seems daunting to a layperson, you can get consumer info on the Canada Mortgage and Housing Corp.’s website.) “If you can specify in the contract, that’s half the battle.”

As for the cost, Mr. Bennett says his company’s statistics have shown that the average price for a complete shingle replacement within the Greater Toronto Area is about 2 per cent of the property value. But prices can vary widely depending on how complicated the job is and where it is located.

As well, your choice of materials will affect your final price. At the low end of the scale, there’s paper asphalt or fibreglass shingle (increasingly the most popular choice, according to Mr. Bennett). Metal is typically double the price, cedar triple and slate, three to four times the cost.

Once the job begins, if you’re concerned about the work being done, you can hire a building inspector to assess it, both during the project and after completion. For a one-time inspection, Mr. Benerowski charges between $200 and $300. For a more thorough, phased inspection report, it can cost between $500 and $600, based on 2,000-square-foot home.

If you do your homework before hiring your contractor, Mr. Bennett says, you should end up with a roof job that will stand the test of time.

Building inspector Mark Benerowski identifies common mistakes to watch for.

Roofers trying to work too fast: Ensure your roofing company will be providing you with an experienced installer and enough manpower to do the job properly (at least two or three workers). “It’s a seasonal type of business, so roofers can get very busy in the summers,” Mr. Benerowski says. “If a roofer is working too fast and hasn’t set his pneumatic gun properly, that nail head could be driven too hard with too much pressure. You’ve cracked the shingle and now you have a potential for leakage.”

Laying new shingles over old: Specify the full removal of the old shingles – if you don’t, the roofers may lay new ones over the old ones, which can trap moisture and lead to premature deterioration of the new surface.

Not removing old nails from the roof: Leaving old nails is like trapping “a bunch of needles underneath the new shingles. When you strip a roof, it has to be fully stripped.”

Poor ventilation: Be sure your roofing contractor will be addressing ventilation issues and is up-to-date on current ventilation techniques and products. “If you don’t have any ventilation at all, in the summer the attic gets very hot and you end up baking your shingles and they don’t last as long.”

Monday, August 22, 2011

www.TorontoRealEstateBoard.com: New TREB consumer website

Offering immediate access to key information, the website’s landing page hosts a video widget, and four large clickable boxes: Market Update, Hot Consumer Topics, President’s Columns and video blog and Housing Charts.

Under the Market Update icon, consumers will find current and archived issues of news releases and TREB’s flagship publication Market Watch. Hot Consumer Topics includes information on how factors like the Harmonized Sales Tax (HST), the Land Transfer Tax (LTT), and Money Laundering / Terrorist Financing legislation affect real estate transactions.

The President’s Columns icon features a collection of articles on a range of topics for homebuyers and sellers. The Housing Charts section outlines the latest market conditions in graphic form.

Directly below the site’s four main sections, a selection of videos is displayed as a clickable reel. Consumers can choose from a monthly market updates, economic and commercial market analyses and information pieces on various aspects of a transaction.

“Real estate can be a very fast moving business in which interpreting detailed information is critical to a successful outcome, and while Greater Toronto REALTORS can offer invaluable professional guidance, an informed consumer can also contribute to a smooth transaction,” said Toronto Real Estate Board President Richard Silver. “To make information as accessible as possible, the new website offers updates via text, graphic and video formats, which cater to consumers’ diverse preferences.”

Information geared to buyers’ and sellers’ needs such as plain language forms, quick links to allow consumers to search local listings directly through the Canadian Real Estate Association’s website www.REALTOR.ca and the ability to search open houses scheduled throughout the Greater Toronto Area is available. Directly below, a continuously refreshing information box offers tips on tax rebates and more. Consumers will be able to use the search tool to obtain the contact information of individual Greater Toronto REALTORSR®. An overview of the association’s activities and the REALTOR® community including charitable efforts are also highlights.

Also included are direct links to subscribe to TREB’s RSS feed and the association’s social media profiles found on Facebook, Twitter and TREB’s YouTube channel.

“Social media offers an ideal opportunity for us to share information with our REALTOR® Members and the consumers they serve, and most importantly, to hear from them so that tools and information can be tailored to their needs,” said Mr. Silver. “Since the new design was based on their feedback, we anticipate that it will become a key bookmark for buyers and sellers throughout the GTA.”

Visit TREB’s consumer website at www.TorontoRealEstateBoard.com
Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics

Wednesday, August 17, 2011

Housing Market Defies Expectations: Prices, Sales Rise

National Post, Wednesday August 17, 2011, Byline: Garry Marr

July proved to be a another strong month for Canadian home sales with the Canadian Real Estate Association now predicting 2011 will see an increase in sales as opposed to a previous forecast for a drop. Actual sales last month were up 12.3% from a year ago while year-to-date sales are 1.6% lower than the same period for 2010.

Prices also continue to have some upward movement,albeit some of the increase year over year being attributed to the introduction of the HST in British Columbia and Ontario, and tighter mortgage regulations in 2010.
The national average price for homes sold in July 2011 was $361,181 - the lowest level since January - but represented a 9.3% increase from a year ago.

Greg Klump, chief economist at CREA, cautioned not to read too much into the average price statistics."Changes in the national average home price are open to being misinterpreted," Mr. Klump said. "They often signify changes in the mix of sales activity across and within local markets, rather than a rising or falling price trend for typical homes in a specific market."

However, CREA, the Ottawa-based group which represents 100 boards across the country, says the scales have now tipped modestly in favour of 2011 outpacing 2010. CREA is predicting 450,800 sales in 2011, just under a 1% increase from a year ago. The group had been forecasting a decline of 1%. Sales are expected to drop less than 1% in 2012.

Prices in Vancouver continue to affect the country, as they helped push CREA's forecast for the average sale price in 2011 to $363,500, a 7.2% increase from a year ago. This was also an increase from a previous forecast. Next year, prices are expected to be flat. The group noted longtalked-about increases in interest rates have failed to materialize in the market. "While there had been some talk of potential interest-rate increases, that hasn't happened," said Gary Morse, president of CREA. "In fact, rates have actually come down, and are now expected to remain low for the remainder of this year and into 2012."

Douglas Porter, deputy chief economist at Bank of Montreal, said the housing market just seems to keep surprising everybody."In a world seemingly awash in negative economic surprises in 2011, one positive surprise has been the resiliency of Canada's housing market," said Mr. Porter, adding few analysts were predicting the kind of price increases the market has seen. "Canadian housing remains surprisingly robust, thanks to still-low interest rates and solid job growth. While the recent financial market turmoil may temporarily weigh on activity, sales should ultimately find support from continued exceptionally low borrowing costs."

Phil Soper, chief executive of Royal LePage Real Estate Services
, said his company's recent forecast was for a 2% decline in sales and 3% increase in price for 2011. He doesn't anticipate that changing."I think we're going to start to see it's not so much the strength of the market but the weakness last year. The market had run out of steam at this point last year," Mr. Soper said. "I think we are seeing a more normal curve to the market, with the exception of the Vancouver market."

Tuesday, August 16, 2011

Summer Housing Market Stable


CREA reports that national resale housing activity was stable on a month-to-month basis in July following an uptick in June, according to statistics released by the association today.

“The continued stability in national sales activity shows that homebuyers remain confident about the soundness of investing in a home,” said Gary Morse, CREA’s President. “Mortgage interest rates are low and keeping home affordability within reach, making it an excellent time for buyers to take advantage of very favourable financing. Prices and affordability evolve differently among local markets, so buyers and sellers should consult their local REALTOR® to better understand how the outlook for housing supply, demand, and prices is shaping up in their housing market.”

Friday, August 5, 2011

Toronto real estate sales up in July 23% over 2010

TORONTO, ONTARIO–(Marketwire – Aug. 4, 2011) – Greater Toronto REALTORS® reported 7,922 transactions through the TorontoMLS® system in July 2011, representing a 23 per cent increase over July 2010. Total sales through the first seven months of this year amounted to 55,863 – down by 1.3 per cent compared to the same period in 2010. After adjusting for seasonal fluctuations, the July figure continued to point to an annual sales result close to 90,000 – in line with results from the previous six months.

“Strong home sales continued in July, with a substantial rebound over last summer’s slow-down brought about by higher mortgage rates, new lending guidelines and misconceptions about the HST. The greatest rebound was seen in the condominium apartment segment in the City of Toronto,” said Toronto Real Estate Board President Richard Silver. “If the current pace of sales holds up, we could see the second best year on record under the current TREB market area.”

The average selling price in July was $459,122 – up by almost ten per cent compared to the July 2010 average of $418,675.

“Tight market conditions have boosted the annual rate of price growth this year. However, the listings situation is starting to improve. A better supplied market later this year and into 2012 would lead to a more sustainable rate of price growth,” said Jason Mercer, TREB’s Senior Manager of Market Analysis

Thursday, August 4, 2011

Urbanation Reports Record Breaking Condo Sales in Toronto for Q2

The 9,455 new condominium apartment sales in the second quarter topped the previous record high of 6,997 in Q2-2007 by 35%. There were also records set in Q2-2011 for the number of active projects, active units, sold index price, unsold index price, new condominium launches (units and projects), units and projects under construction, and quarterly unit registrations. In addition, only 16% of the active units in the market are unsold, a record low, quarters supply is at its lowest level since 1989, unsold units per project is at its lowest level since 1996, sales per project is at its highest level since 1988.

Over the past 12 months there were 24,731 new condominium sales, topping the previous record high of 22,654 from Q4-2007 by 9%. These results are a far cry from Q2-2009 when less than 10,000 sales were realized over the previous 12 months.

Wednesday, July 27, 2011

Non-smoking condos- a sign of things to come?

Non-smokers can change strata bylaws; Nine out of 10 condo owners don't smoke
Vancouver Courier
Wednesday July 27, 2011
Byline: Deb Abbey

In a recent column I featured Dr. Stuart Kreisman and his wife. They're a young couple who discovered that it's impossible to find a smoke-free condo in Vancouver--at any price. There simply aren't any for sale. Fortunately, there are other options.

Sharon Hammond, Manager of the Smoke-Free Housing Initiative for the Heart and Stroke Foundation, receives "tons of calls from people in condos wanting to know how to adopt non-smoking bylaws."
"One in three people have experienced second-hand smoke from neighbouring units," she says.

Any strata council can implement non-smoking bylaws if three-quarters of the voting members of the strata vote in favour of the change at an Annual General Meeting or Special Meeting.

Of the 29,000 strata developments in B.C. (over 900,000 condo units), only a handful have gone down this path. Given that nine out of 10 condo owners are non-smokers, the numbers are surprising. So why haven't more stratas voted to make their developments non-smoking?

It could be that condo owners are concerned about the legality of non-smoking bylaws. When the issue is raised at strata meetings, opponents often suggest the owners will be sued if they ban smoking. The Heart and Stroke Foundation has solicited a number of legal opinions and it's clear that non-smoking bylaws are legal. Others are afraid that their condos will be worth less in the marketplace if they restrict the number of potential buyers. With smokers making up less than 10 per cent of owners that's an unlikely scenario. This isn't just a health issue, it's a lifestyle issue and healthy lifestyle buildings attract buyers, plain and simple.

There's some groundwork to do if your strata plans to adopt non-smoking bylaws. Be prepared. Smokefreehousingbc.ca has all the information to build support for the change. Begin by doing a survey to determine how many owners and residents are smokers and how many want to live in a smoke-free environment. Address any concerns expressed by residents and have your proposed bylaw vetted by a third-party advocacy group such as the Condominium Home Owners Association of B.C.

Put in a grandfather clause for existing owners. The Verdant bylaw had a grandfather clause with a caveat that made exempted owners from the bylaw subject to the common law of nuisance, which simply meant they could smoke but not disturb others with migrating second-hand smoke. When the grandfathered owners sell their units, the new owners will have to conform the new bylaw. Over time, the development will become smoke-free.

Sharon Hammond has been working with the City Social Planning Department to look for opportunities to pilot smoke-free housing options in Vancouver. "While it won't apply to condos, it is encouraging for those living in social housing developments in the city."

This is part of an emerging trend to provide smoke-free rental housing in North America. Property managers of smoke-free buildings are reporting that in addition to less health and safety concerns, management costs are significantly reduced with lower cleaning, painting, damage and insurance costs. And they have waiting lists of people wanting to live in the buildings.

If these properties are any indication, non-smoking regulations will be good for the bottom line. Lower maintenance costs translate into lower monthly fees and everyone loves lower strata fees. That's good news for the many Vancouver investors who own and rent out their condos. It's also good news for buyers.

These developments will attract a premium in the market place. And as more strata developments become smoke-free, it will become the standard and more developers will build smoke-free buildings. And so on. It's legal, it's easy, you'll save money on maintenance and insurance costs and the demand for smoke-free housing will add a premium to the value of your condo. No-brainer. If your strata council is considering non-smoking bylaws, visit smokefreehousingbc.ca If you've already passed non-smoking bylaws in your Vancouver condo development, I'd love to hear your story.

Deb Abbey is a Vancouver real estate agent at Royal LePage City Centre. She is the author of two best-selling books on Sustainable Investment. You can contact Abbey at abbeypartners.ca or email any questions and comments to deb@abbeypartners.ca

Wednesday, June 29, 2011

Thoughts on the City by Naheed Nenshi

His Worship Naheed Nenshi, Mayor of Calgary, spoke to the Toronto Real Estate Board Civic Connections event last week via Skype. Unfortuately the technology didn't work as well as hoped but what we did hear was very interesting.

He said that people choose where they live by city, not by country- e.g. people choose to live in London, not England; in New York, not USA; in Toronto, not Canada. The choose a place where they can make a great life and a great living- a lifestyle and the means to support it. However, the constitution of Canada doesn't recognize the importance of cities. He points out that if the federal government closed down, you wouldn't notice for several weeks; if the provincial government closed down, you wouldn't notice for a few days; but if the city governement closed down you would notice immediately. The city provides the services that people value the most but have the least ability to raise funds.

He is very big on civic engagement, giving people the power to use their own hands, hearts, and voice to accomplish things, and have real dialogue. He mentioned the example of the City of Calgary making parking at transit stations free. He asked people to give input to this by email or twitter. Surprising to him, the biggest response wasn't for or against the proposal but a thankyou for asking.

He was also a big proponent of mixed income neighbourhoods. He says poorer people moving to the suburbs for cheaper housing isn't really good for the public because it requires a need to build more schools, while other schools go lacking for students.

He mentioned that the City Council in Calgary is not ideology driven and that there are really no political parties there, compared to Toronto, where there are de-facto civic political parties.

Also, at the event several Royal LePage realtors were recognized for their civic or TREB volunteer service, including Cailey Heaps Estrin of the Ryal LePage Bayview Branch.

Tuesday, June 21, 2011

Leaside Garden Tour Sat. June 15, 11-4

This year's self-guided tour includes eight very special private gardens and provides the opportunity to meet the homeowner gardeners, ask questions and learn how these beautiful spaces were created.

A mix of mature and newer gardens in a variety of styles from English country to woodland shade will be featured. Of special interest are a knot garden, water feature, unusual flowering shrubs and vines and several examples of successful shade gardens.

Passports, which include garden addresses and a tour map, are $10.00 each (adults and children) and are available from sevral local merchants including our office, Royal LePage at 1391 Bayview Avenue (at McRae). The tour will proceed rain or shine.I have participated before and it is a great way to pass a lovely June afternoon.

Wednesday, June 1, 2011

John Stanton of the Running Room on the 3-Way Win

Tuesday May 31, Royal LePage Real Estate Services 2010 Award winners heard John Stanton, President of the highly successful Running Room, speak at the “By Invitation” lunch at the new Allstream building (formerly the Automotive Building as the CNE). His message is that we are always looking for a 3-Way win, where the Client (customer), Company, and Community all win.

He emphasized how Community involvement has really helped him build his company. This is true of Royal LePage as well- the best example being our involvement with women and children’s shelters through the Shelter Foundation. Yesterday, I sent a cheque for $3592.38 to the Shelter Foundation, proceeds from our Garage Sale. We split the proceeds with 75% to be for Interval House and 25% to be used for programs for violence prevention through education (treat the cause, not just the symptoms). Another cheque for $1700 was sent to Interval House, raised through automatic commission deductions by Bayview agents.

This coming Monday a graduation ceremony is being held for graduates of the BESS program at Interval House. It is program that helps retrain the women at the Shelter for employment, helping to them break free of financial dependence on an abusive partner. Catherine deVries will be attending. Together with RLP on Yonge and at 55 St. Clair, we have placed a congratulatory ad in the program for the evening.

Royal LePage Bayview realtors interact with the community in other ways too through sponsoring events- e.g. the Gardens of Leaside Tour on June 25 (Heaps Estrin team), a series of women’s runs (John MacEwen), family skates (Susan Gucci).