Katrina McHugh : Latest Blog Posts

New property listed in Toronto C01, Toronto

Tue, 17 Jan 2012 10:05:44 GMT

I have listed a new property at 87A Sussex AVE in TORONTO.

Stunning, Completely Renovated 2 Storey, 2 Bdrm W/ 1 Bath And Powder Room. This Unit Has 9Ft Ceilings, Lots Of Windows, French Drs & Loads Of Light. Appx. 1000Sqft. Incredible Location, 1 Blk S. Of Bloor & 2 West Of Spadina. 5 Min Walk To Subway, 4 Min To Bus/Street Car. U Of T Around The Corner & University Ave Is A 10 Min Walk Away. Great Restaurants, Cafes, Books Store And 24 Hr. Grocery.

I have sold a property at 19 Claude AVE in TORONTO

Fri, 11 Nov 2011 10:05:46 GMT

I have sold a property at 19 Claude AVE in TORONTO.

See details here

Run Don't Walk, 2 Storey, 2 Bedroom Super Wide Semi In Roncesvalles. A Creative Blend Of Old & New.Sunny Bedrooms With W/I Closets, Luxurious Spa Lke Bath.Private Dr. & Det. Garage! See The Lake From Front Porch.Prv Back Deck And Garden For Entertaining.Well Placed For Public Transit, Walking/Bike Path To High Park, Junction Shops/Restaurants, Good Schools & Easy Access To Major Hwys. St. Joseph Hospital

Open House. OPEN HOUSE:

Thu, 03 Nov 2011 09:05:45 GMT

Please visit our Open House at 19 Claude AVE in TORONTO.

See details here

OPEN HOUSE:

New property listed in Toronto W01, Toronto

Wed, 02 Nov 2011 09:05:01 GMT

I have listed a new property at 19 Claude AVE in TORONTO.

See details here

Open House. Open House on Saturday, November 5, 2011 2:00PM - 4:00PM

Wed, 02 Nov 2011 09:05:01 GMT

Please visit our Open House at 19 Claude AVE in TORONTO.

See details here

Open House on Saturday, November 5, 2011 2:00PM - 4:00PM

Exciting New Annex Condos…Great Investment

Sat, 24 Sep 2011 20:07:23 GMT

Check out the newest addition to the Annex!!

Great Location, exciting design, great opportunity!!

Not yet released to the public, please call me to set up an appointment

http://www.bstreetscondos.com/

I have sold a property at 833 Craven RD in TORONTO

Fri, 09 Sep 2011 09:07:18 GMT

I have sold a property at 833 Craven RD in TORONTO.

See details here

Satisfy Your Craven! Affordable Condo Alternative,On Quiet Dead End Street, Fully Renovated In 2008, Wiring, Plumbing, New Kit, & Bath W/ Skylight, Bamboo Fls., Hot Water On Demand. Minutes To Beach, Vibrant Little India. Perfect For Single Or Couple. Prv Backyard & Front Deck For Summer Entertaining! Steps To Ttc, Monarch Park Outdoor Pool And Skating Rink, Playground & Dog Park! Welcome Home!

Great Time For Sellers….Market Remains Strong

Fri, 02 Sep 2011 16:13:23 GMT

Canadian Housing Prices Continue to Climb

Written by Newsroom
Thursday, 01 September 2011 07:31

Despite some bumps recently in the economy, the housing market seems largely unaffected. According to the latest release of the Teranet-National Bank National Composite House Price Index report, Canadian Home Prices went up by 1.7% in June.

The index jumped to an all-time high in June, building on gains seen in the previous month- which was the biggest month-to-month gain since August 2009.

From a year ago, the index is up by 4.5%. This latest release marks the third month in a row that the index has risen over 1%, as well as the seventh consecutive rise.

In all six major metropolitan markets surveyed prices were up across the board, led by Toronto with a 2.0% increase. Vancouver and Ottawa registered in at +1.7%, while Calgary posted a 1.6% rise, Montreal +1.1% and Halifax +1.0%

This signals the ninth rise in a row for booming Vancouver.

The report says, “The 12-month gain of the composite index in June was 4.5%, barely more than the 4.4% of April and May. It may seem surprising that 12-month inflation has not been accelerating in step with the recent pace of monthly increases. The reason is that in May and June 2010 the composite index was gaining more than 1% monthly.”

“In June the largest 12-month rise was 7.2% in Vancouver, followed by 5.9% in Montreal, 4.6% in Ottawa, 4.4% in Halifax and 4.2% in Toronto. Vancouver stands out with three consecutive months of accelerating 12-month inflation. Though Montreal’s 12-month inflation was the second highest of the six markets, it decelerated in June for a third straight month. Twelve-month inflation decelerated for a sixth consecutive month in Halifax. Calgary prices were down 2.7% from a year earlier, for a ninth consecutive month of 12-month deflation.”

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Canadian Housing Prices Continue to Climb

Written by Newsroom
Thursday, 01 September 2011 07:31

“In July, according to seasonally adjusted data from the Canadian Real Estate Association, market conditions were balanced in the country as a whole while appearing tight in Toronto.”

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Open House. OPEN HOUSE: Sat, August 27 2-4pm

Mon, 29 Aug 2011 09:07:30 GMT

Please visit our Open House at 833 Craven RD in TORONTO.

See details here

OPEN HOUSE: Sat, August 27 2-4pm

Great Condo Alternative

Fri, 26 Aug 2011 16:49:40 GMT

https://gra001-extra.globalwolfweb.com/Docs/GRA001Docs/Submit/833CravenRoad.pdf

Open House. OPEN HOUSE: Sun, August 28 2-4pm

Fri, 26 Aug 2011 09:08:10 GMT

Please visit our Open House at 833 Craven RD in TORONTO.

See details here

OPEN HOUSE: Sun, August 28 2-4pm

New property listed in Toronto E01, Toronto

Thu, 25 Aug 2011 09:08:10 GMT

I have listed a new property at 833 Craven RD in TORONTO.

See details here

Open House. Open House on Saturday, August 27, 2011 2:00PM - 4:00PM

Thu, 25 Aug 2011 09:08:10 GMT

Please visit our Open House at 833 Craven RD in TORONTO.

See details here

Open House on Saturday, August 27, 2011 2:00PM - 4:00PM

Thinking of Investing In A Second Property?

Thu, 25 Aug 2011 03:43:10 GMT

If you're thinking about buying a piece of real estate as an investment property, market conditions are definitely in your favour. While the resale housing market has seen a tremendous amount of activity from first-time buyers in the past year, it's also a perfect time for existing homeowners to invest in secondary residential properties.

With record-low interest rates and significantly lower prices it's hard to go wrong - unless, of course you lack the financial means to make the investment. After all, you have to be ready to meet all the obligations that come with owning more than your principal property.

For instance, keep in mind that if you intend to rent out the second property, you'll also have to be prepared to deal with tenants and handle maintenance costs.

Leverage

Secondary home ownership is an attractive investment option because it gives you even more leverage than you have with your principal residence. Leverage is when a relatively small amount of your money controls a much larger asset - like a property.

The more leveraged you are, the greater the financial return on your down payment becomes if the value of your property increases. There are very few other investments which can be purchased with such a small percentage of your own money.

For instance, let's say you acquire a second property for $100,000, with a $15,000 down payment, and during the first year that you own it, the property increases by a value of three per cent for a $3,000 gain. As a result, the return on your down payment of $15,000 is 20 per cent - $3,000 divided by $15,000.

Other Investments

By comparison, let's say you were to buy a term investment of $100,000 (in cash) for one year and it increased by $8,000 over the course of the first year. Since it cost you $100,000 in cash to buy it, the return on your investment is only eight per cent before taxes. Obviously, leveraging is a powerful way to make your money work for you.

Getting Financing

You should be aware that many lenders place non-owner occupied deals in the high-risk category and it's not that unusual to find lenders who will not finance rental units at all - or those who will only finance them if they are insured.

Obviously, lenders will want to know whether the property will carry itself. (Is there sufficient rent to cover the mortgage payment?)

Don't make the mistake of assuming that a rental income of $500 per month will carry a mortgage payment of $500 per month. Only a portion of the rent is used to pay the mortgage; the remainder must cover taxes, maintenance, vacancy, bad debt and expenses.

(Many inexperienced purchasers think that owning rental properties will allow them to "get rich quickly" and when this does not happen, the owner becomes disillusioned and loses interest in the property.)

Costs

You should also be aware that the cost of obtaining a mortgage (for legal and appraisal fees) on a non-owner occupied property can be higher than the cost of obtaining a mortgage on an owner-occupied property, when more than one unit - such as a duplex or triplex is involved.

Interest rates charged on rental properties might also be higher because some lenders view these properties as being a higher risk.

As mentioned above, the main responsibility of having a second property is being able to carry it financially. And if you're like most people, you'll probably have to rent it to someone as a result.

This is also a great deal of responsibility because you will have to maintain the property in addition to your own principal residence, and you'll be responsible for finding tenants who you trust and feel comfortable with.

Some parents with grown children ready to go off to university or college choose to purchase secondary properties for their offspring to live in while they attend school. This gives them an excellent investment and they are assured that the occupants will take good care of the home.

If you'd like more information about purchasing a second property, consult a REALTOR® .

REALTOR® is a registered trademark of REALTOR Canada Inc., a company owned equally by The Canadian Real Estate Association and the National Association of REALTORS® and refers to registered real estate practitioners who are members of The Canadian Real Estate Association. Used under license.

Source: OREA

Market Forecast 2011/2012 -TREB

Tue, 19 Apr 2011 14:35:47 GMT

Market Forecast for 2011/2012

Think Spring, Think Green.....

Wed, 13 Apr 2011 19:01:03 GMT

APRIL 15-17, 2011

Direct Energy Centre

The Green Living Show is Canada’s largest green consumer show dedicated to educating the public about easy and workable solutions for leading a sustainable lifestyle. Visitors can shop the wide variety of exhibitor booths while gathering information and inspiration from a diverse selection of demonstrations, presentations, and activities.

http://www.greenlivingonline.com/torontoshow/

New property listed in C04: TORONTO, Toronto

Fri, 25 Mar 2011 09:14:34 GMT

I have listed a new property at 7 271 Ridley BLVD in Toronto.

See details here

Live & Work At Avenue Rd/401 In A Large 1 Bdrm Plus Solarium, (Approx. 925 Sq Ft.) With An Ensuite Laundry. Demand Neighbourhood With Easy Access To Bus, Subway, No Frills, & Prestigious Avenue Rd Shops, Cafes, & Restaurants! Minutes From Yonge St! Unit Very Well Maintained. Building Is Quiet & Safe With 24Hr Gated Security. Amenities Include Outdoor Pool, Exercise Room, & Visitor Parking.

Why Use A Buyer Agent?

Wed, 08 Dec 2010 03:13:10 GMT

Why a buyer's real estate agent matters even more

By Mark Weisleder | Fri Dec 3 2010

When you use an agent to sell your home, you may agree on a commission as high as 5 per cent with the proceeds split two ways. One half goes to the agent who works for you and the other half is paid to the agent who finds the buyer and helps negotiate the deal.

Now that the federal government has brought more competition to buying and selling a home, there are more ways for you to sell a home by yourself. That means the role of the real estate agent acting for the buyer will become even more important to you and the buyer.

Most people understand that when you sign a listing agreement to sell your home if you sell during the term of the agreement, you owe commission to that agent.

It’s a little different for when you’re buying a home. Here, you agree to work exclusively with one agent to find the property you want. The agent protects your interests and negotiates the best price for you. This becomes important if you are involved in a bidding war because you’ll need an objective third party to guide you, to make sure that you do not get too emotional and end up overpaying for the property.

In exchange, you agree to pay this agent a fee, typically a percentage of the sale price. For example, if the homer costs $200,000 and you agree to pay your buyer agent a 2 per cent commission, the cost is $4,000. Usually, the agent will get the commission from the seller. If the seller refuses to pay, then the offer will be readjusted to $196,000, and the buyer will pay the fee directly.

When interviewing buyer agents, be sure to ask for references and then follow up and call them. If you are nervous about signing the agency agreement, you might want to consider signing for a short term, let’s say 14 days, to get a feel for the kind of service your buyer agent will provide. You must understand though, that if your agent shows you a home during that 14 day period that you later buy, you will owe commission.

Sellers should make the effort to co-operate with buyer agents as well, even if they are trying to sell their home by themselves. One of the main reasons is that when a potential buyer approaches a seller directly, the seller has no idea whether this buyer is really looking for a home or even has the financial ability to afford the home. They may in the extreme case be a thief who is only looking to see whether they can come back to this property at a later time. When you work with a buyer agent, you know that they have already qualified any potential buyer so that you have the comfort of knowing that this buyer is in fact ready to buy and more importantly, can afford your home.

In addition, because the buyer agent will protect their buyer by conducting the appropriate due diligence on the property itself, there is less chance that the buyer will discover problems after closing. This means that the seller will not likely be sued by the buyer after closing. This means peace of mind for the seller after closing, as well.

There are advantages to both buyers and sellers in working with buyer agents. Understanding this will make your next home purchase or sale decision much easier.

Real estate lawyer Mark Weisleder is the author of Put the Pen Down! What homebuyers and sellers need to know before signing on the dotted line.

New property listed in C01: TORONTO, Toronto

Sun, 22 Aug 2010 09:03:25 GMT

I have listed a new property at 87B Sussex AVE in Toronto.

See details here

Stunning, Completely Renovated, 2 Stry, 2 Bed, W/ 1.5 Bath. 9.5 Ft Ceilings,Sun Filled (Not Kidding) Approx 1000 Spr. Ft. W/O To Balcony From Living Room.Balcony Off 2rd Master Bedroom. Solid Hardwood Fls Throughout, Stone Counter Tops, Excellent Water Pressure, Central Vac. Incredible Location, Just 1 Blk South Of Bloor St. & 2 Blks West Of Spadina. 5 Min. Walk To The Subway Or A 4 Min Walk To The Bus/Street Car. U Of T Is Right Around The Corner, 24 Grocery

New property listed in Toronto

Sun, 15 Aug 2010 09:02:49 GMT

I have listed a new property at 87 sussex AVE in Toronto.

See details here