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Posted on: 30-12-06 18:38:54
Quote:
Originally posted by jayaram
It all depends upon the Situation the seller is. Most of the seller are they have moved jobs, got divorced and other kinds of situations and they need to get out of the property. In Ontario Sellers are not selling to make profit.
SO are you saying seller dont sell below market value. You are real estate agent . You have all information about the listed price and the sold price of all property. On average the property sells for 97% of listed price. This is average. No buyer will buy property for the listed price unless it seller market like in ALberta. Are you kidding Seller will not bring the price down for seller will not sell below their listed price?
Jayaram,
It's true it all depends on the seller's situation and their personal circumstances for selling their home. A lot of sellers like to upgrade or downgrade their living standards as well according to age, income etc. Not all are "forced" to sell their property.
You say Ontario sellers are not selling to make profit. Just take a look at some areas out in Markham/Richmond Hill areas especially near the new Downtown Markham project. Also Bloor West Village. If you're telling me that they're not selling to make a profit, you are sadly mistaken. It all depends on a particular area and even down to specific neighbourhoods and streets. Buyers still do purchase properties for the listed price, due to high demand in those respective areas. I’m not saying all areas of the GTA are like this, but there are certain areas where demand certainly outstretches supply.
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Vimal Patel, Realtor
Homelife Royalcorp Real Estate Inc., Brokerage
Cell: 416-887-3745
Office: 905-856-6611
Fax: 905-856-6232
vimal.patel@gmail.com
http://www.vimalpatel.ca" rel="nofollow">LINK
Rajeev,Amit,Vimal,
Could you throw some light on Humber area near hwy7,albion and nearby. How's the location in terms of schools, neighbourhood and appreciation..
If also ,could anyone give some idea on the value of the houses in these location it will be really appreciated....
Thanks in advance....
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PKS
Quote:
Originally posted by pksatpathy
Rajeev,Amit,Vimal,
Could you throw some light on Humber area near hwy7,albion and nearby. How's the location in terms of schools, neighbourhood and appreciation..
If also ,could anyone give some idea on the value of the houses in these location it will be really appreciated....
Thanks in advance....
I frequent the area quite often due to my temple being in the area and know for a fact that it is generally considered a lower income area therefore there is a bit of crime in the area. I remember an article from the Toronto Star about a year ago and they highlighted several "hot spots" for crime and this area was one of them that was mentioned.
In terms of appreciation of properties, the prospects aren't that great. A lot of the homes in this area are older especially between Hwy 27 to Islington between Albion, Finch and Rexdale Blvd and are pretty much at their peak value or below.
That being said, the properties further west on Finch between Hwy 427 and Hwy 27 are not too bad. The homes are newer especially the ones closer to the 427. There are 2 new condo buildings as well if you are interested in them built by Tridel just east of the 427 bewteen Rexdale and Finch. There are also some newer townhomes near Woodbine Centre at the intersection of Hwy 27 and Rexdale. A lot of these homes are 2 unit properties as well so home buyers will ease the burden of their mortgage through the rental of the 2nd unit/basement.
In terms of price, for an older semi or detached home (3 Bedrooms) in the area you're looking anywhere between $250,000 to $300,000. In the area closer to the 427/Finch, you're looking at about $300,000 - $340,000 for a newer semi and for a detached 4 Bedroom in the same area with a finished basement, you're looking at upwards of $430,000+
Hope this helps.
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Vimal Patel, Realtor
Homelife Royalcorp Real Estate Inc., Brokerage
Cell: 416-887-3745
Office: 905-856-6611
Fax: 905-856-6232
vimal.patel@gmail.com
http://www.vimalpatel.ca" rel="nofollow">LINK
Quote:
Originally posted by vimpatel
Quote:
Originally posted by pksatpathy
Rajeev,Amit,Vimal,
Could you throw some light on Humber area near hwy7,albion and nearby. How's the location in terms of schools, neighbourhood and appreciation..
If also ,could anyone give some idea on the value of the houses in these location it will be really appreciated....
Thanks in advance....
I frequent the area quite often due to my temple being in the area and know for a fact that it is generally considered a lower income area therefore there is a bit of crime in the area. I remember an article from the Toronto Star about a year ago and they highlighted several "hot spots" for crime and this area was one of them that was mentioned.
In terms of appreciation of properties, the prospects aren't that great. A lot of the homes in this area are older especially between Hwy 27 to Islington between Albion, Finch and Rexdale Blvd and are pretty much at their peak value or below.
That being said, the properties further west on Finch between Hwy 427 and Hwy 27 are not too bad. The homes are newer especially the ones closer to the 427. There are 2 new condo buildings as well if you are interested in them built by Tridel just east of the 427 bewteen Rexdale and Finch. There are also some newer townhomes near Woodbine Centre at the intersection of Hwy 27 and Rexdale. A lot of these homes are 2 unit properties as well so home buyers will ease the burden of their mortgage through the rental of the 2nd unit/basement.
In terms of price, for an older semi or detached home (3 Bedrooms) in the area you're looking anywhere between $250,000 to $300,000. In the area closer to the 427/Finch, you're looking at about $300,000 - $340,000 for a newer semi and for a detached 4 Bedroom in the same area with a finished basement, you're looking at upwards of $430,000+
Hope this helps.
Thanks Vimal for your reply...
Now there is a bit confusing statement. Is the area between finch and albion from hwy27 to islington is not good or recommendable because of one or two case crimes or lower income group or older homes ???
If there was a one or two crime there, then please let me know which is the area where small incident doesn't happen...
If lower income group people are there , then salute to those who are buying properties worth $300,000 in these area . may be their heart is too big..
If older homes is an issue, it can always be renovated and sold as new or sell as it is.. It's upto the individual..
Vimal I may be wrong in my assumption, but the things you have mentioned is very common in every area. One cannot generalise the area with these critirea..
May be the things which you have mentioned is the pre-notion with lot of buyers too..I can understand the real estate market is also driven by these type of pre-notion mentalities...
What's your take.....
I do appreciate your reply's and serious discussion can lead to a better conclusion.
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PKS
Quote:
Thanks Vimal for your reply...
Now there is a bit confusing statement. Is the area between finch and albion from hwy27 to islington is not good or recommendable because of one or two case crimes or lower income group or older homes ???
If there was a one or two crime there, then please let me know which is the area where small incident doesn't happen...
If lower income group people are there , then salute to those who are buying properties worth $300,000 in these area . may be their heart is too big..
If older homes is an issue, it can always be renovated and sold as new or sell as it is.. It's upto the individual..
Vimal I may be wrong in my assumption, but the things you have mentioned is very common in every area. One cannot generalise the area with these critirea..
May be the things which you have mentioned is the pre-notion with lot of buyers too..I can understand the real estate market is also driven by these type of pre-notion mentalities...
What's your take.....
I do appreciate your reply's and serious discussion can lead to a better conclusion.
Thanks for your reply. There have been quite a few crimes about a year ago, not just one or two crimes. If I can find the article I can send that to you. I'm just informing you on this fact and of what has happened in the area over the past little while. Again there are pockets of areas that are better in this area and vary from particular neighbourhood to neighbourhood. I'm not saying the entire area is affected by this, but there are some areas which are and I thought you would like to know.
In terms of appreciation of older homes in the area it is true that some renovation can lead to the appreciation of the property. In the eyes of a first time buyer, some people cannot afford to make all these updates right away after purchasing (e.g. replacement of outdated knob-tube wiring, updated breaker panels, furnace equipment etc.) Of course as a property is updated and renovated, it will bring up the value of the home. As always the choice to renovate/update the home before selling is up to the individual.
The things that I’ve mentioned are just my opinions of the area from what I’ve observed over the years. I'm not trying to generalize the entire area as I’ve mentioned earlier there are some neighbourhoods which are quite nice and suitable for families. (e.g. Northwest area of Islington/Rexdale, and areas closer to the 427)
-----------------------------------------------------------------
Vimal Patel, Realtor
Homelife Royalcorp Real Estate Inc., Brokerage
Cell: 416-887-3745
Office: 905-856-6611
Fax: 905-856-6232
vimal.patel@gmail.com
http://www.vimalpatel.ca" rel="nofollow">LINK
HI
If anybody is looking for price appreciation (next 2-3 years) these are the areas in GTA to invest.
Vaughan - The new city center being developed & upcoming TTC station - Buy around it
Around Queen Street E (Near DVP) (regeneration) buy around it
The Junction - (regeneration) - A very good deal is now selling by builder- Very affordable for middle class (see http://www.thestar.com/Athome/article/165671 , http://www.optionsforhomes.ca/
Thanks
Jay
Quote:
Originally posted by pksatpathy
Could you throw some light on Humber area near hwy7,albion and nearby. How's the location in terms of schools, neighbourhood and appreciation..
If also ,could anyone give some idea on the value of the houses in these location it will be really appreciated....
Thanks in advance....
Is the area between finch and albion from hwy27 to islington is not good or recommendable because of one or two case crimes or lower income group or older homes ???
If there was a one or two crime there, then please let me know which is the area where small incident doesn't happen...
If lower income group people are there , then salute to those who are buying properties worth $300,000 in these area . may be their heart is too big..
If older homes is an issue, it can always be renovated and sold as new or sell as it is.. It's upto the individual..
Vimal I may be wrong in my assumption, but the things you have mentioned is very common in every area. One cannot generalise the area with these critirea..
May be the things which you have mentioned is the pre-notion with lot of buyers too..I can understand the real estate market is also driven by these type of pre-notion mentalities...
Hi PKS,
I have been living in Etobicoke since April 2003. That was the time when I bought my first home in North Etobicoke, in the area of Kipling and West Humber. My house, when I bought it was 37 years old but it was well maintained and solid old construction....all brick. I would say buying a old home does not mean that you are inviting troubles for ever. I know almost all neighbourhoods and I have clients whom I helped to find good houses in Etobicoke.
No doubt, there are few pockets in North Etobicoke which have got a very bad reputation and they are like 'crime hubs' e.g. John Garland, Martin Grove/Finch, some parts near Albion/Finch etc. BUT we can not generalize that the whole area is bad. If it were so, then the houses which are selling over $300,000 in W10 district wouldn't be selling (and the fact is that most of the houses are above $300,000). As a matter of fact, locationwise, Etobicoke is one of the most convenient place and as they say in real estate: Location Sells.
Etobicoke is divided into:
- South Etobicoke
- Centre Etobicoke
- North Etobicoke
Many houses are Bunglow style, detached, big lot sizes, beautiful huge back yards, established and matured neighbourhoods. Like my house: Detached Bunglow, 45 feetX125 feet lot, 4 cars drive way, separate entrance to basement, treed street and very good neighbours. There are two storey houses too: freehold Semis/Townhouses as well as Condo Townhouses.
It all depends on your requirements , budget and wish list. There are many positives in the North Etobicoke area (Hwy 27/Finch, Kipling/West Humber, Hwy 27/Rexdale, Islington/Albion etc.):
- Centrally Located
- Close to Hwy 401/427/407
- close to Brampton/Mississauga
- 24 hr. TTC service in many areas
- Subway
-Good community centres such as The Elms and Humber College etc.
and many more....
There are good schools too like Rivercrest, Mississaugs Private, Highfield etc. My daughter goes to Highfield and we are very much satisfied with the staff and teachers. There are also Gujarati/Hindi/Punjabi classes in the school, conducted by Toronto School Board.
Anyway, if you want some more detailed information, feel free to get in touch with me and I'll be more than glad to assist.
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Sanjeev Manocha, MBA
Real Estate Sales Representative
Accredited Buyer Representative (ABR)
Re/Max West Realty Inc, Brokerage
96, Rexdale Blvd., Toronto
Mobile: 416-843-7600
Office: 416-745-2300
http://www.manocharealty.com" rel="nofollow">LINK
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