Best January Ever!

TORONTO - Tuesday, February 6, 2007 -- The new year got off to a fast start, with 5,173 sales of existing homes in January, TREB President Dorothy Mason announced today. "This figure is up 13 per cent over last January, and up six per cent over the 4,869 sales recorded in January of 2002, which was the previous record for the month."

Meanwhile, average prices climbed in January to $353,724, up five per cent over December and up six per cent over the $332,687 recorded in January 2006. "While one shouldn't read too much into a single month's result," the President said. "January's record breaking performance is an encouraging sign for the year ahead."

Breaking down the total, 1,975 sales were reported in TREB’s 28 West districts and averaged $335,116; 878 sales were reported in the 14 Central districts and averaged $462,211; 1,082 sales were reported in the 23 North districts and averaged $383,806; and 1,238 sales were reported in TREB’s 21 East districts and averaged $280,178.

Neighbourhood Corner

Mississauga
In January, Mississauga (W12-W20) recorded 667 sales, a 10 per cent increase over the 2006 total for the same month. The average price was $335,252, up 10 per cent over the $305,464 recorded during January of 2006. In addition, there were 219 sales of detached homes in Mississauga , which averaged $478,889, a seven per cent increase over the same time period last year ($448,889).

Source: Toronto Real Estate Board

Neighbourhoods to Watch

Over the years we see different neighbourhoods moving into favour as high prices push people to look beyond the ultra-popular areas. For example, the St. Clair & Dufferin neighbourhood (W02 District), offering a variety of house styles and sizes, is emerging right now as a “hot” area for new buyers.

One of my current favourites is Don Mills (C13), located in the area from the 401 south to Eglinton, between Victoria Park and Leslie. For value it is hard to beat, with solid, primarily detached homes, good-sized lots, mature trees, good schools and easy access to highways and downtown. Average ytd price for a detached home is $544,673 compared to the next district to the west (C12) with a ytd average of over $1 million! Note: we just opened a new RE/MAX Hallmark at 69 Underhill in C13!

Riverdale, The Beach, Bloor West, Yonge & Lawrence and others will remain exceptional neighbourhoods and will stay strong - but don’t rule out exploring a bit. Toronto is a huge and rich city with hundreds of neighbourhoods to offer – some of them hidden gems. If you’re curious, call me – I love to explore!

The Starbucks Factor

Whether or not you enjoy a latte, Starbucks moving into your neighbourhood is generally a good thing. Besides helping property values, it often gives other merchants encouragement to invest in developing the surrounding storefronts. Take, for example, the buzz around the new Starbucks at the corner of Queen and Logan. That area (Leslieville, Riverside/South Riverdale), though long loved by those who live there, is still eclectic for some. But enter Starbucks, and there is almost simultaneous development with The Leslieville Cheese Shop, a new organic food market, Mercury Espresso Bar, plus many others to add to the growing list of restaurants and shops. Established stores like Here & Now clothing (closer to Broadview on Queen) can now benefit from being ahead of their time. The “latte factor” is good for business.

One room at a time.

If you want to update your house, it is best to take it one room at a time. For example, begin with the bathroom. The bathroom is a very important part of the house, not only for selling, but for your everyday living. It requires ongoing refreshing and updating. Here is a list of things for you to consider:

• Towels – If your towels are getting worn and faded, treat yourself! You don’t have to replace them all at once - even a few new ones in complementary colours can work wonders. Check out the new bamboo blends (really).
• Light Fixtures – If your light fixture(s) have been there for a while, replacing them with a more current style is a relatively inexpensive way to get a fresh new look.  And if you don’t have a dimmer switch yet, put one in – you’ll wonder what you did without it.
• Other Fixtures – Depending on what you have now, toilets, sinks, taps can be replaced relatively easily to give a more rich and current look. If you do not yet have a water-efficient toilet, the City of Toronto has a rebate program to help with the cost of the new one – City of Toronto: Toronto Water - Water efficiency - Residential Toilet Replacement Program.
• Walls – Look at your paint or wallpaper and see what you might want to update. If you are repainting be sure to find out what kind of paint was used before, and re-cover accordingly. If you have tile see if the grout needs to be cleaned or re-done.
• Clearing Clutter – The bathroom should be peaceful, and that’s hard if the counter and tub are covered with different grooming and body care products. Streamline what you use (and save money!) and put the rest in the cupboard. Be sure to put toothbrushes away – toothbrushes should never be in view. Also, every so often, take everything out of the drawers and cupboards and put back only what you currently use. You will be amazed at what you can toss.
• Shower Curtain – Check your shower curtain to see if it needs to be laundered or replaced. Most often, a simple light-coloured style will look best. Linens ‘n Things has a good selection at reasonable prices.
• Decorative Elements – Look at your toilet brush holder, toilet paper holder, tissue box holder, mirror, candles and see where you might upgrade or refresh. Art can make a big difference in a bathroom, and don’t rule out original art - just choose the medium and any framing to be able to withstand humidity.
• Music – if you don’t have one in there already, get a sleek, compact radio/cd player for your bathroom. It will help create a spa experience – and give you the morning news!

Reminder: If you go away, have your house checked.

If you are heading to a sandy beach or to the ski hills this season, arrange to have your house checked regularly by a friend or neighbour while you are away. Not only is it wise, it is a requirement of most insurance policies, so check with your insurer before you leave. Among other things, if your furnace goes off, pipes can freeze quickly and cause damage.  

February is a short month, and we’re already well into it, but there are still lots of exciting things to do if you’re willing to brave the cold:

Danny, King of the Basement  to February 25

Lorraine Kimsa Theatre for Young People

Danny, King of the Basement is a window into a young boy’s hidden life, and the secrets he’s been hiding. The result is a riveting tale of homelessness, poverty and the remarkable resilience of youth. For tickets: www.lktyp.ca

Food for the Mood – 7 p.m. to 9 pm., February 9
Royal Ontario Museum -- 100 Queen's Park Rd. ( Bloor St. West at Avenue Rd.)
Take a romantic tour of the world to understand how aphrodisiacs were used in different cultures and time periods. Evening includes a hands on display of naughty ROM artifacts. www.rom.on.ca

Canadian International Auto Show - February 16 to 25
Metro Toronto Convention Centre and Rogers Centre
www.autoshow.ca

Interior Design Show 2007 - February 22 to 25
Direct Energy Centre
See the cutting edge in interior design trends, imaginative urban design and industry news with more than 300 innovative exhibitors showcasing their latest products.
www.interiordesignshow.com

Oscar Nominees – Last Call before the Academy Awards Broadcast on February 25^th
Various theatres
Whether or not you are a movie fan, the Oscars are good entertainment. This year the popular Ellen DeGeneres is hosting. If you like to see the nominees in action before the big night, you still have time. Check show times at toronto.com, Toronto Restaurants, Events, Hotels, Attractions, Shopping, Movies, Bars, Clubs, Guides & more.