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Norman Hathaway

  • Toronto Real Estate and the "Savvy" Buyer

     

    As I've exclaimed before, with historically low interest rates, strong buyer demand and short supply of listings, prices will continue to rise, especially in demand areas of the GTA.

     NOW continues to be the operative word in Toronto real estate for both Buyer and Seller. Buyers with the necessary funds are anxious to purchase as soon as possible. They are also more savvy than ever before. Today's buyers know the market and are aware that in this environment of competition they may have to pay more than the other guy. In other words we are still in a strong seller's market and will continue to be for some time.

     Well, that's true but I must add that if you are preparing to sell, you must anticipate the strength of the savvy buyer. I believe nowadays if a property is not priced well, the savvy buyer will under bid or ignore the property that is overpriced. That means that sellers who are wooed by the tide of increased average prices year after year and who think they can push the market unrealistically, are in for a potential disappointment.

     My philosophy is always to interpret the market potential of a home and to price it appropriately in order to facilitate a sale that reflects current market conditions in a timely manner. This is the best outcome for any seller as it avoids the potential stress and disappointment of a stale listing that could prompt a lower price. It is common today to see properties that have been listed with an offer date - trying to create a bidding war- where the offers were not satisfactory and the property had to be re-listed at a higher price. This can be shock to the seller who was hoping for multiple offers well above the asking price and creates more stress and worry for both the seller and the listing agent. Sometimes the new higher (realistic) price is met and all ends well. But not always. Why take the risk!

     Today is actually no different than the past. The same principles always apply. Prepare your house to the best you can afford, determine a fair and attractive market value and don't try to push the market and be the lucky one who got that vast amount over ask!

     I work with homeowners to improve the marketability of their homes in the most cost effective ways. Intelligent and experienced evaluation of the current market coupled with simple improvements will result in a strong sale price. My efforts help you the seller maximize the full market potential of your home. Also, I will stage your home for free!

     Feel free to contact me at 416-885-0535 or email: norman.hathaway4@gmail.com for a discrete and confidential appointment. 

  • 2 Story For Sale in Queen/Woodbine

    02_exteriorfront2

    • 2 bath, 3 bdrm 2 story - MLS® $789,000 CAD

     -  Gorgeous, Over Size, Fully Renovated 3 + 1 Bdrm Semi In Prime Beach! Fabulous Open Concept Main Floor W/Large Skylit Family Rm Addition Off Kitchen. W/O To Large Deck & Yard. Full Bsmt W 4 Pc Bath, Clawfoot Tub, Laundry Rm & Additional 4th Bdrm/Studio. Hi-Eff Furn 2013. Nanny Suite Potential. Exposed Brick, Main Fl Hardwd, Freshly Painted. New Broadloom In Bsmt. Great Schools. Rec Ctr. Walk To Queen Shops, Beach, Ttc, Permit Prkng. *The Perfect Family Home.*

    Property information

  • 2 Story For Sale in Parliament/Carlton

    04_exteriorfront4

    • 4 bath, 3 bdrm 2 story - MLS® $1,259,000 CAD

     -  Gorgeous Victorian On Coveted Sword St. Stunningly Beautiful Total Restoreno, This 3+1 Bdrm, 4 Bath Gem Has Everything You Expect: Elegant Ceiling Details, Pillars, Crown Mldngs, Hi-Ceilings, Drk Hrdwd Flrs Thruout. Grand Staircase To Beautiful Master Bdrm W 3 Pc Ens & W/O To Sunny Deck. Fab Fullbsmnt W Office, 4th Bdrm & Wine Storage. Lrg Kit W Custm Cabs, Stone Cntrs Flows To Stunning Fam Rm Addition W Palacial Windows & W/O To Landscaped Grdn & 2 Car Gar.

    Property information

  • Single Story For Sale in Cornell

    • 3 bath, 3 bdrm single story - $499,900 CAD

     -  Gorgeous, South-West Facing, Sun Filled 3 Storey * End Unit Wide Lot * By Aspen Ridge. Freehold Townhome In Desireable Upper Cornell. Ensuites Off Both Bdrms! 2 Pc On Main. Office Could Be 3rd Bdrm. Fam Rm W/ Dir Access To Garage. Up-Graded Hrdwd Flrs In 2nd Fl Dining/Living Rms. Gorgeous Kitchen W/ Mobile Island And W/O To Deck W/ Nat Gas Bbq Hook Up. Full Basement. Prkg For 3 Cars. Close To All Amenities, Schools, Shops, Transit. 1 Blk To Swan Lake.

    Property information

  • Bungalows, High Prices and Seniors

    Ever wonder why bungalows (detached and semi-detached) are so expensive in Toronto?

    Well, here's the thing. Land in TO continues to become more valuable by the day and if you haven't noticed, they're not making any more of it. The limits to Toronto's urban expansion outward or "urban sprawl" has also been very effective in driving upward value on existing land in TO.

    So, property lots with small single storey dwellings called bungalows are underutilized in the eyes of developers and consumers. This is why we see so many smaller homes being knocked down in favour of the ever popular miniature Versaille mansions. I'll hold off on my disdain for those structures to stay on topic.

    These smaller homes are often sold by seniors who have raised their families in them and are now passing on or moving to retirement homes etc. Builders and speculators snap them up and build multi-storey dwellings on the lot, selling them off for well into the 7 figures.

    The irony here is that many seniors are looking to downsize into these single storey dwellings precisely for the reasons that there are fewer if any stairs, usually 2 bedrooms, max 3 bedrooms and used to be affordable!

    Toronto has seen its stock of affordable bungalows, especially close to downtown or easy TTC access, virtually disappear. Easy access to TTC means a very short walk- ideally to the subway. Those that remain are coveted and consequently moving higher in value all the time.

    Seniors who are looking to get out of their multi-storey family home, who are not interested in the condo option yet, are looking for the very thing that is becoming harder to get.

    Ah, the fun of supply and demand!!

     

     

     

  • Home prices up 7.5% and The Educated Buyer.

    Toronto home prices continue to rise!!  

    As outlined in the press today - National Post Aug 8/2014- the average home sale price was up 7.5% in the GTA over the past year. Up to $550,700 average price for a house in Toronto!! "Strong demand for ownership housing will underpin robust average price increases for the remainder of 2014." National Post August 8, 2014.

    As I've exclaimed before, with these historically low interest rates, strong buyer demand with short supply of listings, prices will continue to increase especially in demand areas of the GTA.

    NOW continues to be the operative word in Toronto real estate for both Buyer and Seller. Buyers with the necessary funds are anxious to purchase as soon as possible. They are also more savvy than ever before. Today's buyers know the market and are aware that in this environment of competition they may have to pay more than the other guy. In other words we are still in a strong seller's market and will continue to be for some time.

    So that means we are in a Sellers market.

    Well, that's true but I must add that if you are preparing to sell, you must anticipate the strength of the educated buyer. I believe nowadays if a property is not priced well, the savvy buyer will under bid or ignore the property that is overpriced. That means that sellers who are wooed by the tide of increased average prices year after year and who think they can push the market unrealistically, are in for a potential disappointment.

    My philosophy is always to interpret the market potential of a home and to price it appropriately in order to facilitate a sale that reflects current market conditions in a timely manner. This is the best outcome for a seller who is intelligent and fair minded. It avoids the potential stress and disappointment of a stale listing that could prompt a lower price. It is common today to see properties that have been listed with an offer date - trying to create a bidding war- where the offer(s) were not satisfactory and the property has to be re-listed at a higher price. This can be shock to the seller who was hoping for multiple offers well above the asking price and creates more stress and worry for both the seller and the listing agent. Sometimes the new higher (realistic) price is met and all ends well. But not always. Why take the risk!

    Today is actually no different than the past. The same principles always apply. Prepare your house to the best you can afford, determine a fair and attractive market value and don't try to push the market and be the lucky one who got that vast amount over ask!

    I work with homeowners to improve the marketability of their homes in the most cost effective ways. Intelligent and experienced evaluation of the current market coupled with these simple improvements will result in a strong sale price. My efforts help you the seller maximize the full market potential of your home. 

    Feel free to contact me at 416-885-0535 or email: norman.hathaway4@gmail.com for an appointment. 

     

     

     

  • Update on River City July 31, 2014

    It's been a few years now since I reported on River City (see my blog post of Jan 30/2012), the Urban Capital development at the foot of River St. where King St. and Queen St. join and cross the Don River. This area of land sits between the Pan Am games Athletes Village to the west and the Don River to the east. I last reported on this development back in late January 2012 and I was very excited and impressed with what I saw. The actual condo buildings are well documented online, either through my site: www.normanhathaway.ca or at the River City site: www.rivercity.com.

    Today I was invited to tour the development as part of a special incentive program offered to sales agents in my brokerage, Sutton Group Associates. We have been given very attractive and exclusive sales incentives that we can pass on to our clients. The tour took us through the floor plans, demo models of suites and a beautiful walk of the River City environment lead by the sales manager of the project.

    Back in 2012 I took my own tour of the site which had just broken ground. Phase One was being dug and Corktown Common, Toronto's largest downtown park, was starting to take shape. Now the park is complete and mature (for it's age) and Phase One and Two are complete with construction about to begin on Phase Three.

    My feelings back then were confirmed today in spades. This is a fantastic project that is unique to Toronto and perhaps the world. Here we have a development that is architecturally innovative and strong in character within an environment that will promote and establish long term community. 

    Working with Waterfront Toronto, the developers have created cutting edge structures with good sized multiple bedroom units and coupled them with an unprecedented array of public amenities and infrastructure which include retail, TTC, highway access, a new large YMCA, the new campus for George Brown College, the innovative Underpass Park, Lawren Harris Square and the magnificent Corktown Common! 

    Residents will enjoy quick access to streetcar service along King St. or Queen St.(est. 10 mins to Yonge St.), or walk directly downtown (est. 25 mins) along Front St. which is being extended virtually to the front doors of River City. By the way, Front St. will extend through the Pan Am Games Village with a tree lined pedestrian promenade.

    Innovative brilliance such as Underpass Park and Corktown Common are now in full use and residents of Phase One  are taking full advantage this extraordinary environment. Phase Two will be ready for occupancy this fall. Phase Three is expected to be completed in 2017. By the way, the front doors of Phase Three will open directly in front of Corktown Common Park!!  Imagine living within a 25 minute walk to the core of Toronto and having the largest downtown park at your doorstep.

    If you haven't explored this area of downtown east Toronto called the West Don Lands, you should. By the time the Pan Am Games depart Toronto in 2015, one will find the old no man's land that stretches east from Parliament St. and the edge of the distillery extending east to the Don River completely transformed in a brilliant way- perhaps nothing short of miraculous.

    I believe that this is a tremendous investment opportunity. Unlike many condo developments that have been built to satisfy the demand for investment/rental stock in Toronto - where a high percentage of the units are rentals, River City is sustaining a balance of investor owners and owner occupied at 50%. This translates into less transient population and stronger resale value down the road. 

    I could go on and on.. instead why not take an afternoon and wander around the area. You will quickly see what I mean.

    When I remember how to insert photos I'll get some up...

    Feel free to contact me for more info regarding investing in River City, Canary District or anywhere in this great city of Toronto.

     

     

     

  • Now Is The Time To Prepare For The Sale Of Your Home

    If you are considering selling your home, now is a fantastic time to list it!

    Currently there is a very short supply of inventory on the market. Couple ultra-low interest rates and strong buyer demand with short supply and the result is higher prices in demand areas of Toronto. 

    The fall market is just around the corner. Those who are going to put their homes on the market are preparing now (July/August - the quieter months) for listing in the fall.

    All indications demonstrate a strong upcoming fall market - so be ready for it.

    I am presently working with homeowners in downtown Toronto to improve the marketability of their homes. With the implementation of these improvements, sales have resulted in significant gains well above previously quoted evaluations. My efforts help you the seller maximize the full potential that the market has to yield for your particular property. 

    The vast majority of home buyers express their desire for "move in condition". Now, more than ever, my marketing strategy can help you realize a substantial profit when you sell.

    Knowledge of neighbourhoods is essential to any successful realtor. Having lived and worked in Cabbagetown, Rosedale, Riverdale, The Beach and the Annex for decades, I know the Toronto market intimately. Concentrating my energy and expertise in only those areas, I deliver the knowledge, professional integrity and personal service you expect.

    I would be pleased to view and evaluate your property and discuss current market conditions and help to demystify the financial process that effects both buyer and seller and how this ultimately will affect the sale of your property.

    Feel free to contact me at 416-885-0535.

    Have a great summer and an even better fall!!

     

     

  • Great Bachelor Condo For Sale at Maitland St. (Wellesley) and Jarvis St. in Toronto

    This listing of mine, 135 Maitland St. in downtown Toronto is a great investment play for anyone interested in getting in on the action in Toronto but cant afford the high prices.

    This condo is at the corner of Maitland St. and Jarvis St. just south of Wellesley and a hop, skip and a jump from Bloor St. and Yonge St. With a Walk Score of 97!! this neighbourhood has everything anyone needs!!

    It is large for a bachelor, is on the ground floor and boasts a terrific 150 sq ft enclosed, private patio. Facing east, the unit is flooded with morning sun. Here's a perfect way to get a foothold in the HOT Toronto market.

    This unit is easy to rent and in the best light,  your tenant pays down your mortgage while the Toronto market continues to increase the value of your investment!! This scenario is bound to continue to play out for some time to come. In a less bright light the unit would perhaps not increase in value - due to unforseen economic factors- at the present rate. However, because condos are the rental stock of Toronto, your unit will continue to rent. So, you're equity will continue to increase regardless.  

    This particular building is interesting as it used to belong to the CBC housing its radio broadcast offices. It was then sold off and converted to The Marquis Condominium.  

    135 Maitland St.

    Ground floor bachelor condo.

    150 sq ft enclosed patio

    Great investment! Check it out... click here

     

  • Stocks vs Real Estate

    Saturday's National Post (Gary Marr) says: "Stocks always trump Real Estate". Tell that the those who lost big time in the stock market over the last brilliant financial meltdown!!

    Read:http://business.financialpost.com/2013/05/18/if-there-was-a-battle-between-stocks-and-real-estate-stocks-win/?__lsa=960f-c4fc

  • Canadian Inflation Rate continues to fall!!

    Hey, have you noticed?! They say say Gas and Food prices have fallen. Have you noticed?! According to Stats Can, our annual inflation rates fell "an astonishing six tenths of a point to 0.4% last month", according to reporter Julian Beltrame of the The Chronicle Herald- May 17,2013. Read:

    http://thechronicleherald.ca/author/by-julian-beltrame-the-canadian-press

  • Interesting news on Interest rates and inflation in today's National Post

    If interest rates are of interest to you -pardon the pun- you might be interested in these 2 articles in the National Post today. They shed some provocative light on interest rates and inflation both here in Canada and internationally.

     http://business.financialpost.com/2013/05/16/monetary-stimulus-may-leave-damage-in-its-wake-as-countries-withdraw-measures-boc/

     http://business.financialpost.com/2013/05/17/canadas-inflation-rate-tumbles-to-its-slowest-since-2009/

    ...and this one earlier:

      http://opinion.financialpost.com/2013/05/15/canada-interest-rates-debt-cd-howe/

  • Update from Waterfront Toronto;Blue Edge re;West Donlands;River City;Pan/Am Village;Canary Warf;Canary District Condominiums;YMCA;George Brown College Student Residence;The Distillery;Fred Victor Buiding;Old Eastern Ave;Sumach St.;River St;Pan/ParapanAm

     The West Donlands Development has surely come a long way in a very short time. I live in the area the of the Pan/Am Athlete's Village, RiverCity, West Donlands and the transformation has been truly spectacular. If you haven't been down to have a look at what's happening, this spring will be a perfect time to take it all in. The Distillery District immediately west of this huge area of transformation will be in full swing. Come and enjoy all that the Distillery has to offer and then take a look at the West Donlands.

    Here is an update:  http://us1.campaign-archive2.com/?u=4c69743fe945bfd319e7e85cd&id=7b5e8bbe36&e=d09a263925

    People are already occupying River City. For more info on River City visit my website:http://www.normanhathaway.ca/HomesAuthenticated.aspx? 

    Don River Park will be renamed soon, in fact you can place your suggestion for a new name for the park at:http://www.thegridto.com/name-that-park/

  • Spring Is Here!!

    If you are considering selling your home or condo, now is a fantastic time to list it!

    Here's why...

    We are in a Seller's Market right now. Currently there is a very short supply of inventory on the market. Couple ultra-low interest rates and strong buyer demand with short supply and the result is a particularly strong Seller's Market. We continue to see higher prices and in demand areas- bidding wars!

    Now is the time to prepare as the Spring Market is already here. Demand and Prices continue to be strong!

    Knowledge of neighbourhoods is essential to how well a salesperson can represent you in a purchase or sale. Having lived and worked in Cabbagetown, Rosedale, Riverdale and the Annex for decades, I know your market intimately. Concentrating my energy and expertise in only these areas, I deliver the knowledge, professional integrity and personal service you deserve. I will take you to a complete and successful transaction.

    The heart of real estate is Skilled Personalized Service - one person who makes your real estate needs their priority.

    Feel free to contact me at 416-885-0535 or email norman.hathaway4@gmail.com

  • River City in West Don Lands

    An article in the Toronto Star over the weekend (January 28, 2012) makes the case for buying into the West Don Lands- specifically River City. As I have stated before, with all the added value that is is being developed "down there", it absolutely will be the most impressive, most desirable new development in Toronto ever!

    I said "down there". I mean the area that is called the West Don Lands. This area of Toronto is immediately east of the Distillery District, south of King St./Eastern Ave., bordered by the Don River to the east and the Gardiner to the south.This is Value Added like nowhere else: the Brand New 18 Acre Don River Park, Underpass Park, extensions of River St., Front St., Mill St. and Bayview Ave., along with new TTC street car lines connecting Cherry St. Queen and King St. to the Waterfront. Honourable mention goes to the inclusion of a new 82,000 sq. ft. YMCA facility with swimming pool, a dormitory for George Brown College to go with their new waterfront campus, and a new Front St. Promenade connecting the West Don Lands to Union Station. The area will be the site of the 2015 PanAm Games Athletes Village.

    River City is the first Canadian residential development built to LEED Gold  Standards. The list is very impressive and as the article states "buyers understand the importance of getting in while the real estate is relatively affordable. At present- although my website schickhathawayhomes.com has been singing the praises of this development for months now, the area is little known to most people and for that reason prices are discounted. My advice to anyone looking to invest in a New Toronto Development is to contact us and we'll take you for a tour around the area and you will see for yourself the astounding transformation happening "down there". 

    Not only will we show you every detail of the development, we can offer you the lowest VIP discount prices available for units in River City! Go to www.schickhathawayhomes.com for more information.

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