Toronto Real Estate

Golden autumn

evavitkovska — Thu, 02 Sep 2010 14:46:25 +0000

Golden autumn by Zoedan

Golden autumn in Craigleigh Gardens situated inside Rosedale neighbourhoods. Thank you Zoedan for such an colourful photo!

Budget Deficit Narrowed

livia — Thu, 02 Sep 2010 01:27:55 +0000

Photo by Ian Muttoo

The Canadian budget deficit narrowed in June, the government finance department reported. If you compare the $2.8 billion deficit which was recorded in June 2010, with the same month last year, at $4.98 it was almost double.

Looking at the cumulative deficit of 2009 and 2010 in the April to June period, 2010 seems to be much better. The shortfall for Canada fell from $12.5 billion to $7.2 billion over the year. This conforms to the plans of the government, who lowered program spending in order to achieve the planned $49.2 billion deficit for 2010. In June, program spending declined by 13 percent, to $18 billion and in the April to June period, program spending fell by 5.5 percent to $54.4 billion from 2009 to 2010.

Currently it looks like such a deficit can indeed be achieved, and thus the government policies seem to have been quite effective so far. It still is early to speak about it as a definite thing, though.

Rise of Payrolls

livia — Mon, 30 Aug 2010 16:13:00 +0000

Go Straight by Wlodi

Good news from the employment sector! Payrolls in Canada increased in June, Statistics Canada reported last week. If June is included in the figures, the number of payroll workers in our country rose by 172,300, which is 1.2 percent, since August of last year. If compared to June 2009, weekly wages increased by 4 percent to $853.50.

From May to June, non-farm payrolls grew by 0.1 percent, which equates to 20,400 payrolls. A noticeable rise was also seen in administrative and support, waste management and remediation services, where the payrolls were 1.3 percent, which is an increase of 9,200. Average weekly hours worked in June was 32.9, the same as May. But total hours worked by hourly and salaried workers increased by 0.1 percent in June.

Finally we have some positive news, which is always good to hear. It makes me believe that our economy is not too bad in some areas.

Home Prices Rising

livia — Sun, 29 Aug 2010 22:29:19 +0000

Way Up!
Photo by Keno

Home prices in Canada keep on increasing! According to the newest Teranet National Bank Composite House price index report, released earlier this week, the June 2010 increase of housing prices in the country was the most significant one in ten months. Prices rose by as much as 1.5 percent from May of this year.

The prices grew in all six surveyed cities, for the third month in a row. The biggest increase, of 2.7 percent, was recorded in the capital, Ottawa, followed by Toronto with a 2.4 percent growth. Toronto, again and Vancouver were the leading cities when compared to the rise in home prices since June 2009. They increased by 13.6 percent, the same amount as the May 2009 to May 2010 comparison figures.

Over the last couple of months it feels like the only noticeably increase seen in Canadian housing, is the prices, doesn’t it? For Canadians this news is very disappointing.

Composite Leading Index Slowed Down

livia — Sat, 28 Aug 2010 14:38:22 +0000

Thumbs down by Desi

Here we have another sign that our economy is not in such a great state as it was just a couple of months ago! The composite leading index of Statistics Canada has slowed down from 0.7 percent rise in June to only 0.4 percent increase in July, the agency reported.

Unfortunately, this decline, for the most part, has been caused by the unsatisfactory housing situation, which saw poor housing starts and sales last month. The housing component on its own fell by 4.1 percent, which is quite a large drop. Retail sales indicators fell too, by 0.6 percent. On the contrary, the demand for manufacturing sector goods increased for the sixth time in a row, by 2.2 percent this time.

I am quite disappointed in the results for the housing sector, which play a significant role in our economic growth. I know the situation could be much worse but that doesn’t make the news any more palatable, does it?

Loft Apartments

livia — Fri, 27 Aug 2010 20:07:12 +0000

Loft atmosphere by Tudor

Loft apartments are becoming increasingly popular nowadays. How do we define and recognize them? It is very simple. A loft apartment can, for instance, be defined as a place transformed from former industrial buildings. Such apartments are usually located in an urban environment. Interestingly, people like this type of home, so much so, that if there is a shortage of these types of properties; developers either create them from old buildings or build new homes with typical loft apartment features. Therefore, there are two basic types of loft. The first is the former industrial building transformed into living or working accommodation which are called hard lofts. Soft lofts, on the other hand, are those which are built completely from new.

What are the common signs of loft apartments? Most of the time, they do not have a clearly visible division of specific rooms; just a lot of open space, where you can move around completely freely. Sometimes it is very nice to have a kitchen and the living room undivided and even in regular apartments, this has become quite of a trend. These spacious places are a dream of many individuals who have to deal with living in a tiny apartment with absolutely no space. High ceilings, huge windows and concrete floors are easy recognizable features which belong to loft apartments.

Loft apartments look quite artistic, and that is one of the reasons why they became so popular. Many artists use them as their ateliers and because they spend so much time there, they fall in love with the place and move all their stuff in. These apartments still, even today, are often considered as places for bohemians. For a typical family with kids and a dog, such a flat would probably not be the best choice of living space. It is amazing; just imagine decorating a loft with modern, stylish furniture from your favorite designer or store, the mixture of styles might be fabulous. Nevertheless, I do not think they are quite right for big families.

Be careful if you are planning to buy such an apartment. Sometimes studio apartments are mistaken for loft apartments just because they do not have walls dividing specific rooms either. Studio apartments are typically very small, thus it should not be a problem to make a distinction between them and lofts, since those are, as mentioned very spacious. One of the reasons studios are, from time to time, listed as lofts is that lofts sell for more. So do not be fooled!

Extraordinary view at Yonge Street

evavitkovska — Fri, 27 Aug 2010 10:53:36 +0000

Photo by Rick McGrath

Yonge Street is home or close to many neighbourhoods in Toronto. As a major arterial street it is running from Yorkville through Chaplin Estates to Teddington Park. Yonge Street was formerly listed as the longest street in the world. This is why there is no lack of great architectural views that we can see in this beautiful photo taken by Rick McGrath.

Moon Sets Behind Yonge Street

Inflation Rate Rose in July

livia — Thu, 26 Aug 2010 14:55:30 +0000

Photo by Daniel Hsia

The annual inflation rate, in Canada, increased again in July, Statistics Canada announced earlier this week. Its pace was actually the fastest one since April with the consumer price index increasing by 1.8 percent since July 2009. Electricity prices have been increasing the most during the year.

Surprisingly, though, the core inflation rate which excludes the eight volatile items and changes to indirect taxes, decelerated slightly last month. It slowed down from 1.7 percent to 1.6 percent. Back to the biggest rise; electricity prices were 9.8 percent up from a year ago, followed by homeowner replacement costs with a 5.5 percent increase. Gasoline prices rose by 4.8 percent over the year. On the opposite side, mortgage interest costs fell, as well as items such as air transport.

I have mixed feeling from this, more on the positive side than the negative, though. After introducing harmonized sales taxes in Ontario and British Columbia, the results we saw could have been predicted. We should be pleased that the core rate slowed down.

Shenfeld about Economy

livia — Wed, 25 Aug 2010 19:50:05 +0000

Photo by Woodley

There is to be no further increase, in interest rates, by the Bank of Canada after September. This news is what Avery Shenfeld, a CIBC economist, predicts. After seeing an extremely low level of the key lending rate for such a long period of time, 0.25 percent, the bank has raised the rate twice in past two months. In June the rate increased to 0.5 and then a further increase, to 0.75 percent, was seen in July.

However, Shenfeld now forecasts that the central bank will not raise its benchmark rate anytime soon after next month. The main factor influencing this possible happening ought to be the weakness of the US economy, the economist claims. In spite of the fact Canada is doing quite well economically, “it cannot move all the way to normalized rates while the US Federal Reserve is still on hold,” he says.

I would not be surprised if Shenfeld was right, his arguments are pretty logical. Therefore 2010 and perhaps 2011 should be quite good years for buyers. Let’s see whether it will affect the sales anytime soon.

RLP Shelter Foundation Report

livia — Wed, 25 Aug 2010 00:31:11 +0000

The Royal LePage Shelter Foundation has just released its 2009 report and an outstanding 1.5 million dollars was raised last year! A portion of each transaction I complete is donated to this worthwhile cause, and I feel honoured to have been named in the Top 1% of donors. (see pg 21 of report)

The report highlights the fundraising that has been accomplished, the top donors, a list of agencies who received financial aid, a brief overview of what the shelter has been involved in over the years, and what the future has in store. Also on the report are quotes from the board, donors and even some of the women who have been helped by the Shelter Foundation.

Royal LePage Shelter Foundation 2009 Report