Some very good and true points about the market.

FROM THE GLOBE AND MAIL REAL ESTATE SECTION TODAY

While this article  reflects the Toronto and BC market, there area many points that are true about going to market in any city.

Myself and Stephanie  had an incredibly busy Nov and Dec with sales and listings .

We are well into our way into the early spring market that looks like it is approaching

fast and as experienced agents in the core areas we can advise you about how to best

market and sell your home.

 

Homes along Brunswick Avenue in Toronto.

Real estate observers in the Toronto area will be watching the market in January with special interest as they try to predict the movement of sales and prices in 2019.

January may be a barometer for how the rest of 2019 will go after a sputtering performance in 2018.

By the third week of January, agents say, the early spring sales will begin.

“The spring market starts much sooner than anyone expects,” says Jimmy Molloy, an agent with Chestnut Park Real Estate Ltd.

Mr. Molloy says listings are scarce in Toronto these days and supply is especially thin at the beginning of the year. Many homeowners don’t like to list in the winter because they believe their homes and gardens are at their best in the spring.

They may be right, he says, but sellers also face more competition when buds appear on the trees. He encourages sellers to list in late winter when buyers don’t have many properties to choose from.

“I won’t wait until May.”

Mr. Molloy says he becomes an amateur weather man in January and February, because he doesn’t want to bring a house onto the market in the middle of a blizzard. When he sees a clear stretch of weather, he encourages sellers to hang out a “for sale” sign.

“The market is always front-end loaded at the beginning of the year,” he says. “There’s a little bit of snow and you only have pictures of last summer – but you’re the only house.”

Mr. Molloy, who does most of his business in luxury neighbourhoods such as Yorkville, Forest Hill and Rosedale, says sellers seem to be optimistic – but they often are because homeowners tend to see the best in their own property.

“They feel very optimistic about the performance of their own home, as they should be.”

Looking ahead, Mr. Molloy believes 2019 will be a solid year for Toronto real estate, but growth will be moderate compared with the high-octane run-ups of 2017 and other recent years.

“Price appreciation will be closer to inflation,” Mr. Molloy says.

After a long stretch with interest rates barely above zero, higher borrowing costs are a drag on the market – in every segment of the market.

“Money was virtually free – it’s not free anymore.”

In December, sales in the Greater Toronto Area tumbled 22.5 per cent from the same month last year, according to the latest data from the Toronto Real Estate Board.

That number can be somewhat deceptive, as the market dynamics in December, 2017, were very different. Many buyers rushed to secure a deal in the last month of 2017 before new, tougher mortgage regulations came into effect in January of 2018.

Patrick Rocca, an agent with Bosley Real Estate Ltd., says house hunters hoping to snag a bargain were roaming around in December.

He was shocked to receive an offer $700,000 below asking for a property listed with an asking price of $2.9-million.

“It was ridiculous. It’s a buyer who’s thinking they’re going to get a steal,” he says.

Mr. Rocca says he normally signs back a counteroffer but in this case, it wasn’t worth doing even that.

New listings last month fell 31.5 per cent from December, 2017, when listings surged as some sellers tried to cash in.

The average price in the GTA crept up 2.1 per cent to $750,180 in December from $734,847 in the same month in 2017.

Mr. Rocca says his phone began buzzing with calls and e-mails on Jan. 2 as homeowners contacted him to say they were ready to list toward the end of January.

“I’m hoping it will be a good start to the year.”

He adds, however, that the sellers are moving now because of a change in lifestyle – not because they are trying to reap profits.

“I don’t see us going through any kind of craziness like 2017.”

He says some homeowners are reluctant to list because they are hoping for another surge in prices, but he says he believes the market has returned to a more normal, long-term rhythm.

“If you’re hanging on waiting for it to pop again, I don’t know when that’s going to happen.”

As for the psychology of buyers, some fear interest rates will continue to rise in early 2019. Others are holding out to see if prices will falter this year after last year’s slowdown in Toronto, Vancouver and other previously hot markets.

Mr. Rocca says some buyers are so anxious they are passing up properties that he considers good deals.

“It’s trying to convince buyers to buy. There are good opportunities right now and they aren’t seeing that.”

Looking further into the year, Mr. Rocca expects the biggest factor in the market will be the coming federal election. Since the election will likely take place in the fall, he expects the spring market to be much stronger.

“People tend to pause during an election year. The earlier part of the year will be better.”

So far Toronto-area real estate has remained relatively stable, without following the dramatic fall in the Vancouver area, where real estate sales plummeted 47 per cent in December from the same month in 2017.

Vancouver sales have been hammered partly because of a speculation and vacancy tax imposed by the provincial government. In 2018, the B.C. government raised the foreign-buyers tax to 20 per cent from 15 per cent and broadened the areas where it applies.

While Ontario doesn’t have a tax on vacant properties, other factors – including rising interest rates, tougher mortgage regulations and weaker demand from foreign buyers – weigh on both markets.

The Bank of Canada lifted rates three times in 2018, Bank of Montreal chief economist Douglas Porter points out, who is forecasting two more hikes of 25 basis points each in 2019.

Mr. Porter says the central bank’s previous rate increases are already having an outsized impact.

With the two big economic engines of housing and consumer spending “cooling before our eyes,” the economy is now heavily dependent on exports, business investment and infrastructure spending for growth in 2019, he adds.

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West Centretown Semi Detached SOLD

SOLD 

Hidden Gem of an area that is being discovered for its very affordability and its proximity to a multitude of urban neighbourhoods.

Nestled on top of historic Nanny Goat  Hill , this area is close  to transit, parks and work. You will not need your car!. Literally steps to the thriving areas of Centertown, Little Italy, Chinatown. Lebreton Flats and Hintonberg areas and easy access over to the Quebec side. West Centertown north of Somerset is starting to take off- NOW is the time to buy in to this diverse area of professionals, families , artists and entrepreneurs.

This charming half double provides lovely light and well-proportioned rooms that include a separate formal dining room, an updated kitchen large enough for a café table for your morning coffee and a sunny large living room. Door to large deck and garden. There is a 2 pc bathroom on this level.

The second floor provides two good sized bedrooms and a smaller room that is ideal as a den/nursery or sewing room. The main bathroom is also updated.Parking at rear and potential to expand. Lovely deep lot 99.38 .ft.

Downtown Living – Uptown Style!

Nanny Goat Hill:

Nanny Goat Hill is a rise of rock/escarpment that cuts through a section of Centretown, separating Chinatown from LeBreton Flats.  A foot staircase joins the upper and lower sections of   Primrose

Great schools, enriched head start Nanny Goat Hill Nursery and Nanny Goat Hill Community Garden steps away.

 

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GLEBE -182 FOURTH AVE. SOLD IN DEC

A wonderful Glebe Home on the Avenues. J

Asking $1.299,000.00

A Tudor and Arts and Craft exterior make this a handsome home both inside and out and understates the space that awaits inside.

A beautifully kept home. Sensitively to preserving the original homes charm and elegance as well as providing a modern lifestyle where needed is prevalent.

The main rooms are elegant and charming accented by high ceilings, wood floors. beautiful wood panelling and beamed ceilings as well the original fireplaces. All add the allure of this home.

Lovely main rooms and a fully redone kitchen that is spacious and bright with easy access to the rear mud room and to the lower level. The kitchen is done in tones of white and brushed steel accents.

The second-floor music room or study provides a lovely space accented by an original fireplace mantle and built in shelving.

The other 3 bedrooms (including the master) on this floor are charming and bright. The main bathroom is redone in keeping with the era of the house using a claw foot tub, Harlequin tile and a pedestal style sink as features to the space. There is also a large shower stall.

The third floor continues the lovely natural light and spacious bedrooms. Three more bedrooms or /dens plus a redone full bathroom done in a black and white motif with a large shower stall. This floor could be a master suite or children’s floor.

The lower level is fully finished. Great TV/Media room or children’s Playroom/Family room. There is a full bathroom with a walk-in shower stall plus a huge laundry room and an organized storage room.

The rear yard and garden is private and landscaped with a rockery and pond. Large storage shed for all your tools. Parking can be expanded.

 

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INTRODUCING PATRICIA CARISSE

After running a successful Photography Gallery/Café business with her husband Jean Marc Carisse and as a media strategist prior to that, Patricia is bringing those business skills and connections to a long held passion of hers- Real Estate. Patricia has strong business management and negotiation talents, cultivated from her previous careers that are perfectly suited for Ottawa’s real estate industry. Professionalism and business acumen are more necessary than ever in the complex Ottawa real estate market. She has a renowned reputation for communication, of listening to her clients needs and a desire to provide quality service and advice.

We are delighted to have her as part of our team.

Julie Teskey and Stephanie Cartwright

Patricia Carisse                                                                                                            Real Estate Sales Representative w/TESKEY/CARTWRIGHT Team                        REMAX Hallmark Realty Group, Brokerage independently owned and operated      344 O’connor St. Ottawa, ON.                                                                      613.878.1757                                                                                                                      613.563.1155

 

 

 

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MODERN WESTBORO -Rented

NEW LISTING COMING TO WESTBORO

In the fashionable Westboro neighbourhood, this half double shines with style and modern design. Award winning architect Christopher Simmons has designed a modern home that captures the natural light and provides an exceptional lifestyle for families and executives alike.

View Video :https://vimeo.com/287703103  email or call for Private viewing

julie@teskey.com

The lines and design are crisp and clean capturing the wonderful nature light through the cleverly designed open ceiling wells.

How perfect is this space for entertaining and family enjoyment!

The perfect master get-a way with 2 walk in closets and a huge spa bathroom .

 

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NOW SOLD – OLD OTTAWA SOUTH

OLD OTTAWA SOUTH -$639,000.00

Coming to MLS Friday Aug 10th

Perfect for a young family or single couple this home is in a lovely location close to schools , the Canal, shopping and Lansdowne Park

.Bank St bridge connecting the Glebe shops and Old Ottawa South.- stepes away from this home

8 Willard

A charming front veranda overlooks the front garden.

Generous Foyer opens to the good sized Living room and Dining room graced with hardwood floors and large windows that provide lovely natural light. The galley kitchen opens to the rear yard and expansive deck. Fully fenced yard.

The second floor has 4 bedrooms and an updated main bathroom. The rooms are all charming and have lovely natural light and hardwood floors.Basement provides good storage and could be developed further.

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Fabulous Independent Adult Living

Luxurious condo living in The Heart of The Glebe. Enjoy a carefree luxurious lifestyle in this lovely adult condominium with 2 bedrooms,2 full bathrooms, bright, clean and airy. Soon to retire? Or simply planning for the future – this unique condominium offers amazing options for you and your loved ones. Not only is the apartment beautiful it offers a lifestyle next to none. 

 For private viewing please call Patricia Carisse 613.878.1757

All main rooms enjoy floor to ceiling windows emitting natural light throughout the day.  

The kitchen is open to the living and dining rooms, has light wood cabinetry, white appliances and granite counters. The breakfast bar is warm and inviting – great for entertaining!

The two large bedrooms are at opposite ends of the suite allowing for privacy. The master bedroom has an en-suite with a walk-in closet. The second bedroom has a full bathroom next to it.

Enjoy life and skip the hassles of maintaining a large home. However, this suite is large enough to bring your treasures and enjoy them. The basic care package purchased separately from Villagio in The Glebe provides full access to countless amenities such as chef prepared meals, a nurse on staff as well as 24/7 emergency care, housekeeping to name a few. Other amenities include, cocktails, indoor pool, movie theatre, gym, games and concierge.

SOME FABULOUS AMENITIES INCLUDE

 

 

100 Isabella is next door Loblaws, LCBO, Banking and a close walk to the YMCA.

This truly feels like a home in a great neighbourhood by the Rideau Canal in the Heart of Ottawa.

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SOLD

sold above asking

215 FIFTH AVE; $899,000.00

Within walking distance to all the best shops, Lansdowne park Development, kiddie parks and not to mention 2 great schools steps away and of course the Canal, this house is ideal for a growing family from a start of a family till University. Kids galore on street and streets near by. Good neighbours.


Fully renovated home that has a wonderful continuous feel to the interior that is both stylish and warmly accented. Much larger than it appears, with 3 beautiful floors of living space. A large kitchen accented by an oversized eating island and banks of cupboards accented by quartz counters, this kitchen will be a gathering spot for family and friends. Gas stove, stainless steel country style double sink, detailed tile back splash and stainless steel pulls on the white cupboards make the space shine.

A gas fireplace with wood beam mantle warms the main living areas. Lovely high ceilings and wood floors accent the rooms. Indirect lighting sets the mood.
A convenient powder room is just by the rear door that opens to the large yard.

The second floor has a sunny master suite with walk in closet and a huge ensuite bathroom that is luxurious and tastefully done with a Zen style tub and separate shower stall.

The fixtures are top quality and the tiling and use of colour and texture is outstanding. Another bedroom with good closet space, luxurious bathroom with impressive shower stall complete the floor. Loft doors cleverly disguise the full sized laundry area. Wood floors, high ceilings and lots of natural light.

The third floor has two large bedrooms both with lots of closets, lovely natural light and there is a 4pc bathroom that is also completely renovated. A great floor for visitors or the teenagers in the family- Or use one as a family room /office.

Move in and enjoy!!

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SOLD Glebe – affordable and room to improve

Get your Foot in the Door of the Glebe: Great opportunity to get into a great area at a good price and make the house your own with upgrades over time. perfectly fine the way it is but you can do your own thing without paying for someone else’s taste and redo..$679,000.00

 

Pretty and charming home just off Bank Street and close to all the amenities that the Glebe and Landsdowne have to offer. Lovely front porch with a beautiful garden surround and gingerbread trim welcomes you. The main rooms are of good size and provide nice family space. The kitchen is country style and large enough to accommodate a table.

 

The rear room has access to the deck and spacious rear yard and makes a great mud room area. Main floor powder room and laundry complete the space. Three bedrooms and a den on the second floor.

The home has wood floors, high baseboards and trim and ceiling molding. An ideal home to start out in and redo as time and money allows. Good solid home.

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SOLD Grand Old Home In the Glebe-295 First Ave

SOLD  in bidding war. 

With its handsome exterior located in the heart of the Glebe and just steps to schools and shopping, this grand residence is brimming with possibilities.
Filled with the homespun warmth of an earlier era, with exposed wood floors and trim, original fireplace and mantle, original glass and stained glass windows, built-in, period cushioned benches, sliding pocket doors, high ceilings, maid’s staircase and other classical architectural details, all contribute to this home’s historic charm.


A single home and boasting 3 large floors of living space on a 50’ x 103’ lot, this property offers a multitude of possibilities. The home is mostly intact with original charm and could be further restored to its splendor or renovated/modernized to your own taste in a modern flare

.Significant sized rooms provide a wonderfully spacious home to raise a family in and to provide formal entertaining. Stunning entrance foyer and staircase with oversized stained-glass window acting as a backdrop to the room.

The charm flows through to the second and third floor bedrooms with high ceilings, wood floors, unfilled bedrooms ( 5 ), a pretty sunroom also with wood floors, for bedrooms and office spaces. The third floor could be redone to provide a huge master suite with lovely treetop views.


The lot is private and large with a brick garage / carriage house that is in very good condition. There is also a loft in the garage. Lovely home, private lane way and yard just minutes from all that the Glebe has to offer but on a beautifully tree lined street that offers a family lifestyle in an urban setting.

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