Markham Condo Leasing - Tridel Circa 23 & 33 Cox (Markham & Hwy7)

CIRCA. Warden and Hwy 7. The gateway to the new Markham Centre. Moments from historic Main Street and the Go Station in Unionville, Circa is minutes from shopping, entertainment, Hwys 404 & 407 and all the modern conveniences and luxuries you need. 

 A indoor swimming pool and Whirlpool are finished in a mix of rich aquatic colours and warm sunlight. Put the state-of-the-art Fitness Centre to the test. Give yourself the upper hand in the virtual reality Golf Centre or the stylish Games Room. Call it "eight ball, corner pocket" in the Billards Lounge. Finally, retreat to the chic Party Room- outfitted with designer appointed furnishings, a stylish bar, professional kitchen and formal dining room. There are also four guest suites - ideal for visiting family and friends. 

Many types of models ranging from 1 bed 600 + Sq feet to 2 bedrooms + den unit that are over 1000 sq foot. 
1 bedroom unit lease price from $1400 and up. 

Contact me for more info on current available rental units. 

Richmond Hill Luxury Home - Yonge & 19th

A custom home builder has a number of 60 foot lot available at Yonge & 19th to build your next custom house. All homes includes High End Line Accessories, Kit Cabinets, Toilets, Water Fixtures, Sinks, Elf, Doors, Hardware, Trims. Hardwood Flrs Thru-Out. 9Ft Bsmt, 10Ft Main, 9Ft 2nd Level. Wrought Iron Stairs, 30 Pot Lights, His/Her Custom Organizers

Central Air, Central Vac, Granite Counter-Tops. Glass Tub & Shower Enclosures. 9' Crn Mldgs Price range from 1.5 million to 2.5 million. Completion April - August 2013 Contact kevinyip@realtyagent.com for price, feature list and floor plans.

Landlord Checklist

Renting out your condo isn't as simple as placing an ad, says leading mortgage broker David O'Gorman, of the GTA's MortgageLand Inc. There are very real liability and insurance considerations that can and often do crop up. Here are the top nine ways to protect yourself.

1) Do you have tenant insurance? If the tenant leaves the tub running and it overflows and causes damage to the unit below/beside your unit, who pays for the damages? Did your tenant start the fire that damaged other units and common areas? Who pays for it? Sure the tenant may be legally responsible, but who will the other unit owners or the condo corp. turn to sue or write the cheque? You, the unit owner. If a tenant had significant financial resources, would they be a tenant? Don’t be cheap, protect yourself, talk to your insurance broker.

2) Don't lien on me. Are you aware that if a tenant causes any damage to common elements, or other units, the condo corporation can register a lien against your unit for payment of any amount? Are you aware that the condo lien takes priority over everything except property taxes? Are you aware the lien registered by the condo corporation can be considered a default by a mortgagee and the mortgagee may then commence legal action against you?

3) Check condo by-laws before doing any rental. Some condo by-laws do not allow for short term rentals (one week to 51 weeks).

4 )Did you do a credit check on your tenant or have them print a copy of their own to give you? Did you ask for and check out current and past employment? Did you ask, get and verify two /three personal references? At least one relative and one long term “friend.” Get their names, addresses, phone numbers and email addresses and verify them before you agree to rent the unit. Google tenants 1) name 2) former address 3) employment. What comes up?

5) Get the tenant’s e-mail address(es) & then agree in writing that they will keep you advised of changes of their email address and that you may communicate with them via email.

6) Did you give the tenant a copy of the condo by-laws & have them sign an acknowledgement of receipt? In Ontario this is a requirement under the Condominium Act. Did you advise them in writing that you would advise them by email of any changes to the by-laws? Did you follow up, by sending the changes in a reasonable time? Tenants must follow the condo rules the same as an occupying owner.

7) Do not rent out individually key-locked bedrooms rooms, like in a boarding house. It is probably a violation of the condo by-laws, municipal zoning and the fire code. Do not allow your tenants to sublet rooms in this manner. Well-run condo corps will inspect units once a year, or find a reason to inspect suspicious units (building/fire inspection).

8) Putting good tenants in your condo rental units is a good long-term investment. Tenants who cause excess wear & tear/damages to a building are a cause of increased condo maintenance fees. Higher condo fees impact the marketability of units & impact the value of the unit.

9) Could this be your tenant?

In this case charges have been laid by police. All individuals are presumed innocent until found guilty in a court of law. Conviction on any charge is not required to register or enforce condo liens.

It is alleged:

“The tenant of a unit in a large condo complex, more than 250 units, went out on “a night on the town”. When the bars closed the tenant invited a number of “new friends” met in the bars, back to the condo unit to continue to party. When they got to the vestibule of the building the tenant noticed he/she forgot/lost the keys to the unit. One of the “new friends” suggested that they break into the red “fire box” in the vestibule (in full view of a security camera) to get a key ( it’s a master key for the whole building intended only for the use of the fire dept.). The next morning the property manager discovers damage to the “fire box” & missing keys, he reviews security tape & calls police. The police investigate & lay a number of charges against the tenant. Tenant cannot remember names or identify any of the “new friends”. Police recover the master key but have no way of knowing if the key was copied. The condo corp. is considering registering a $70,000.00 condo lien against the unit, to recover the cost of re-keying the whole building.”

We will have to wait to see what comes out of this case.

A significant number of condo corps/boards and their law firms are taking very strong stands with condo landlords over damages that can be traced to a specific tenant.

Article above is provided by Canadian Real Estate Wealth Written by David O'Gorman.

Kettle Lakes Club by Aspen Ridge Home (Bayview & Bethesda)

Kettle Lakes Club is a new townhouse project by Aspen Ridge Homes currently in preconstruction at Bayview Ave & Bethesda Side Rd in Richmond Hill. The project is scheduled for completion in 2012. 

Surrounded by an abudance of rollings hills, forests, fields, wetlands and lakes, there are so many outdoor activities to enjoy. Scenic hiking and biking trails snake throug the wooded terrain, enhanced with walkways and lookout points. The town of Richmond Hill offers a wealth of recreation with large parks, public swimming pools, skating and hockey arenas, a 300-person ampitheatre and a skateboard park. schools for children of all ages are also within easy reach from Kettle Lakes Club.

KETTLE LAKES CLUB ON BAYVIEW (ASPEN RIDGE HOMES)

 

Deposit Structure: $ 15,000 with offer; $ 15,000 in 60 days; $ 15,000 in 120 days

 

Bonus Package: $ 5,000 in upgrades; OR 5 Appliances

 

Model Type / Size: TH1  -  1640 SF. ; TH2  -  1717 SF.; TH3  -  1752 SF.; TH4  -  2057 SF.; TH5  -  2066 SF.; TH6  -  1860 SF.; TH7  -  2027 / 2017 SF.; TH8  -  2033 / 2020 SF.

 

Flooring: Ceramic tile flooring in foyer, powder room and first or second floor laundry room and all bathrooms. Choice of Satin Finish Pre-finshed 3/4" x 3-5/8" Stained Oak engineered flooring.

 

Tentative closing date: Nov 2013.

 

Price herein already include HST; Buyer will have THREE days' condition period;

 

Roof: Slope roofing; Main floor: 9 floor ceiling; second floor: front part will be 9 feet ceiling, back part will be 8 feet ceiling;

 

Utility Connection fee will be included in the price, All levies will be capped at $1500;

Contact me for Price list and floor plans

The Britt Condo by Lanterra (Bay & Wellesley)

The Britt Condos is a new condo project by Lanterra Developmentscurrently in preconstruction at 955 Bay St in Toronto. The project is scheduled for completion in 2016. Available condos start at $274,900. The project has a total of 729 units.


41 Storeys
Estimated Completion - 2016

1)      1% Off the Purchase price

2)      $2000 Off the Purchase price

3)      $2000 In Upgrades

4)      Free Assignments ($5000 Reg)

5)      15% Deposit Payable over 270 Days. 5% on Occupancy

Contact me for price list and floor plans. 

Gross Debt Service Ratio

Housing costs versus gross income: Typically, your monthly housing expense, including monthly payments for taxes and insurance, should not exceed about 28 percent of your gross monthly income. This can be expressed in the formula below:

HC < or = I x .28

where:

I = gross monthly Income

HC = monthly Housing Cost including tax and insurance

If you don't know what your tax and insurance expense will be, you can estimate that about 15 percent of your payment will go toward this expense. The remainder can be used for principal and interest repayment.

Housing and debt costs versus gross income: This is sometimes referred to as Gross Debt Service Ratio or GDSR. In addition to having housing costs be no more than a certain percent of your gross income, your proposed monthly housing expense and your total monthly debt service combined cannot exceed about 36 percent of your gross monthly income. If it does, your application may exceed the lender's underwriting guidelines and your loan may not be approved. This can be expressed in the formula below:

HC + D < or = I x .36

where:

I = gross monthly Income

HC = monthly Housing Cost including tax and insurance

D = gross monthly Debt

Example Calculations

The percentage amounts used below are given for example only.Note that actual percentage amounts will depend on several factors such as a FICO score as well as each lenders suggested GDSR for the type of mortgage.

Calculating maximum monthly allowable housing cost: for a monthly income I = $4000, housing costs should not exceed $1120

I x .28 > or = HC

$4000 x .28 = $1120

Calculating maximum monthly allowable housing and debt load: for a monthly income = $4000, monthly housing costs + monthly debt load should not exceed $1440

I x .36 > or = HC + D

$4000 x .36 = $1440

Calculating maximum monthly allowable housing cost based on income and debt load: for a monthly income = $4000 and a monthly debt of $400, monthly housing costs should not exceed $1040

In the example above, we calculated above that the maximum monthly housing and debt load should not exceed $1440

now we subtract the known monthly debt

$1440- $400 = $1040

This is how much Housing Cost (Tax + Mortgage + Maintenance + Insurance + Hydro) you can afford per month.

101 Erskine ( Yonge & Eglington)

Tridel now introduces 101 Erskine. This smartly tailored 32 storey glass condo residence with a contrasting tonal profile Views is strategically tucked away, mere steps from the energy of midtown Yonge and Eglinton in Toronto. Yet this venerable neighbourhood is also just moments from the subway, prestigious shops and superb dining.


9' Ceilings
Parking $45000


Deposit Structure
5% due on signing
5% due 90 days
5% due 180 days
5% due 270 days


Tentative occupancy - Summer 2015


Studio starts at $254 000
1 Bedroom at $289 000
2 Bedrooms at $477 000


Contact me for price list and floor plans. 

New Mortgage Rules from Government of Canada

The Government of Canada announced today that it was tightening mortgage insurance rules

for the fourth time in four years. In total, four new measures were announced for new government-backed

insured mortgages.

1.       The maximum amortization period was lowered from 30 years to 25 years.

2.       The maximum amount that Canadians can borrow when refinancing their homes was lowered to 80% from 85% of the value of their homes.

3.       Households are now being constrained to a maximum gross debt service ratio and maximum total debt service ratios of 39% and 44%, respectively.

4.       Government-backed insured mortgages will now be only available on homes with a purchase price of less than $1 million.

These new rules will take effect on July 9, 2012.

Uptown Markham RiverWalk East (Warden & Hwy 7)

River Walk East - Uptown Markham 

"River Walk” is phase 2 of Uptown Markham, a unique residential community at Hwy 7 & Warden featuring mid and

high rise condos set in the Rouge River Valley. It will be surrounded by almost 50 acres of natural and landscaped

parkland, bike trails and of course the river.  River Walk will have quick access to Highway 7, which is currently being

re-developed into a European style Boulevard with tree-lined Esplanades and pedestrian sidewalks.  

Uptown Markham programs to have ready, prior to completion of the 1st residential phase, a great European style

Commercial Plaza comprising of 120,000 square feet of shops, services, supermarkets and other retail facilities,

as well as endless resort style amenities to promote a balanced lifestyle.

You can take advantage of a spacious pool, his and hers sauna, a state of- the- art exercise facility,

a party room, a yoga/tai chi room, an indoor/outdoor 

Toddlers Play Centre and a library /study centre.

Available suite prices start at $236,000. 

80% of suites are 1B and 1B+ and 20% are 2B from about 500 to 1,000 sf. 

Contact me for Price list and floor plans

FAD Condo ( Richmond & Spadina)

Introducing FAD Condos, located at 170 Spadina Ave. Presented by Tri-win International, FAD will be a contemporary tower that will add some cool yet respectful architecture to the corner of Spadina and Queen Street West. Designed by Wallman Architects, FAD Condos will do something we love: take a small pocket of underused land and transform it into something of which the city can be proud.
FAD, named after the Fashion District in which it is located, will rise 19 storeys on what was once a low-rise commercial building. The project will include 210 units, with just 44 parking spots in an underground garage. The big question right away is, “Why only 44 parking spots?”, but based on the demographics of condo purchasers in the downtown core, limited parking isn’t that surprising, especially when the residence sits on two major transit lines (like FAD).


Contact me for price list and floor plans. 

Keys to Selling your Home

Keys to Selling Your Home

1. Price your home aggressively. When mortgage rates are low and buyers are chasing too few houses for sale, sellers can ask high prices and get them. Even when houses are overpriced for the market, sellers are likely to receive some offers, as buyers are often desperate to find a home that meets their needs. When things are slow, pricing is absolutely critical. But instead of pricing your home aggressively high, you should consider pricing your home no higher than the middle of the range for homes comparable to yours. And if you need to sell your home quickly, you should consider pricing your home among in the bottom 25 percent of comparable homes. Why? With few buyers chasing many homes, you need to quickly get the attention of those who are serious about buying, If your home is priced too high, you many never get buyers to even consider looking at your home.
2. Curb appeal. After pricing, nothing will bring more potential buyers into your home than a house with outstanding curb appeal. Take a walk down your street with a critical eye. How does your home stack up from the outside? If it doesn’t stand out from the rest then it’s time to get to work.
3. Consider home staging. The quickest way to add home value to a home for sale is a fresh coat of paint. But after you do that, you may want to consider home staging. Either do it yourself or hire an outside firm to do so. A home staging professional will come in and take away some furnishings and rearrange others to make your home show better. When home sales were going gangbusters this was a technique used mostly by those selling high-end homes. When things get slow and homeowners need to sell, more people find home staging professionals to help them prepare their home to make it more appealing to prospective buyers.
4. Fix stuff. The loose railing. The broken pane of glass. The closet door off of its track. The leaky faucet. They all need fixing. If you don’t have the time or skill, find a handyman to go through your home and make repairs. Also, consider replacing the old roof that looks like it might leak, the antique furnace, and the stained rug. When there are few homes on the market, sellers sometimes offer cash at closing to repair the roof or for the stained rug. With so many homes on the market, buyers can afford to only bid on those that are in move-in condition. Fix what needs repair before listing your house.
5. Offer flexible terms. Flexibility is the key now. You’d like to close in two months, but the buyers might be in a hurry and need to close sooner. Find a way to make it happen. You were planning to take the appliances to your new home, but the buyers make a bid near the asking price – including the appliances. Leave the washer and dryer behind (and then go find a store that offers no payments on appliance purchases for a year). And for those items that have deep sentimental value, make sure they are removed prior to any showings. Competition between home sellers is high – you don’t want to lose the only buyer who has looked at your home in a month.

E Condo ( Yonge & Eglington)

Here are some highlights on the E condo:

 

There will be two towers;

South tower - Address will be 8 Eglinton Avenue East, 64 storey, may go up to 66 storey,12 per floor,

North tower - 15 Roehampton Avenue, it will be 38 storey, may increase to 40, 9 Suites per floor.

 

North tower and south tower WILL NOT block each other.

 

Both tower - direct access to Subway; 9 foot ceiling

capped levy $5000 for one bedroom or under; $7000 for two bedroom or larger;

 

Assignment fee: $5000;

HST Included.

 

Deposit structure: total 25% over Two Years

$10,000 on signing;

balance of 5% due on 30 days;

5% due on 90 days;

5% due on 270 days;

5% due on 540 days;

5% due on 720 days.

 

Price roughly at $630-675PSF; VIP Price will be released on Monday June 4, signing on June 6 and 7.

 

Due to the design and size, there will be lots of units around $300,000 range.

 

Parking - only available to units larger than 739SF;

 

For North Tower 6-12 floor, there will be 9 units, with 4 units of one bedroom, one suite of One bedroom + Den, Four Suites of 2 bedrooms.

For North Tower above 12th floor, there will be 5 units only.

 

All suites have  9 feet ceiling, both towers have its own separate facilities;

Swimming pool will be at 31 floor at both tower, can see through the outside

Contact me for floor plans and price list

How to Set a List Price for Your Home?

How to Set a List Price for Your Home?

Setting the list price for your home involves evaluating various market conditions and financial factors. During this phase of the home selling process, your REALTOR^® will help you set your list price based on:

• pricing considerations
• comparable sales
• market conditions
• estimated net proceeds

Pricing Considerations – Find a Balance Between Too High and Too Low

When setting a list price for your home, you should be aware of a buyer’s frame of mind. Consider the following pricing factors:

If you set the price too high, your house won’t be picked for viewing, even though it may be much nicer than other homes on the street. You may have told your REALTOR^® to "Bring me any offer. Frankly, I’d take less." But compared to other houses for sale, your home simply looks too expensive to be considered.

If you price too low, you'll short-change yourself. Your house will sell promptly, yes, but you may make less on the sale than if you had set a higher price and waited for a buyer who was willing to pay it.

Price Against Comparable Sales in Your Neighborhood

No matter how attractive and polished your house, buyers will be comparing its price with everything else on the market.

Xpression Condos in Richmond Hill (Yonge & 16)

Xpression Condos on Yonge

Launching in Richmond Hill, on Yonge St just north of 16^th Ave., is the highly anticipated

Xpression Condos by Zancor Homes! 

This great new development will be conveniently located across from the Hillcrest Mall,

in an area where you can find variety types of restaurants and shops. 

Xpression condos will be 21 storeys high with 450 units in total. 

Amenities for residents include: rooftop patio, swimming pool, fitness studio, and much more!

Prices start from the $200’s. One parking included

Tentative Occupancy - June 2015

Contact me for price list and floor plans. 

Special Deposit Structure  

PLUS Cap Closing Costs, Development Charges and Levies $5,000 on all suites

PLUS Option to Assign for $2,000  

PLUS FREE Storage Unit (Till June 14, 2012)

Click below for feature and finishes

Waterways Condos By The Conservatory Group (2163 Lake Shore Blvd W)

Limited Time Exclusive Conservatory Club Purchase Incentive:

$5000 off all One Bedroom  Suites

$7500 off all One Bedroom plus Den Suites

$15,000 off all Two Bedroom Suites

 

$5000 on signing pf Purchase Agreement

Balance to 5% in 30 days

5% in 180 days

5% in 365 days

5% on Occupancy

Includes one parking and one locker

Tentative Occupancy - June 30, 2016

Email kevinyip@realtyagent.com for price list and floor plans

Click below for Features and finishes