Newsletter – June 16-2016

Just Back from Moscow!

Night view of street and Kremlin in Moscow. RussiaWe heard from many people who recently visited Moscow: how beautiful this city has become, how great and affordable the hotels and restaurants are and, of course, the museums and theatres. We needed to meet with our clients, so we decided to go.

We booked Peter’s Palace, a hotel for $120 Canadian dollars per night including breakfast for 2 people with unlimited champagne every morning. Unfortunately, we didn’t take advantage of that: we do not drink in the morning, but if that’s your thing, this is the hotel for you. Our flight to Moscow, with one stop in London, was a reasonable $1200 per person.

We arrived to a beautiful weather, blooming lilac bushes and chestnut trees everywhere; kilometres of blooming tulips and stunningly decorated streets.

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Huge Disappointment Regarding the L Tower Condo Complex

Toronto’s highly anticipated building that won’t be.

A few days ago, I walked by the newly constructed 58 storey condo complex at Front and Yonge Street and saw a very unusual picture. An almost fully occupied building is missing walls of windows, on a few floors. Despite almost 7 years of construction, this highly anticipated iconic building is already falling apart.

The exterior of the building still is not finished, the lobby is not rushing to please the residents, nor are the amenities. Most Toronto real estate agents will tell you that they are not happy with units finishes, either.

Thanks to our professionalism, we did not sell a single unit in this condominium. It looks like Fernbrook Homes cut all possible corners on the materials, compromising the quality of the construction.

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Does Living in a High Rise Condominium Protect Us from Bugs and Cockroaches?

What I learned two weeks ago, even after 17 years invested in my Real Estate career, surprised me

My client moved to Paris and decided not to come back to Toronto. She asked me to sell her condominium apartment, located in very good neighbourhood of Toronto. A beautiful suite in a prestigious building that is only a few years old. The unit is on a lower floor (not a ground floor) with stunning 12 ft ceilings. The condo was tenanted at the time. When I met with the tenants and asked why the kitchen utensils were all out of the cupboards, they informed me that the apartment was full of cockroaches, even after being recently treated. The condominium has a program to compost organic waste and this is why this building was infested with bugs.

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You have a friend in the real estate business: should you always sell or buy with them?

I have been selling and buying real estate since 1999 and, from time to time, my best clients or even friends use someone else when they sell or buy a house or condo.

Every time, my friends are disappointed.

Why this is happening and how to solve this issue, if your friend is a Real Estate broker.

Friendship is like family, sometimes even stronger. Sometimes people change wives or husbands a few times over lifetime, but they can have friends from kindergarten until  the end of their life.

Friendship is a blessing; it is a gift that not everyone will have in their lives. Loyalty is a great quality to have and is always beneficial for people. But when money,  particularly big money, is involved, everything changes. Some people feel that they would rather lose the relationship with a friend than lose some money.

Let’s look at this situation from both party’s point of view and I’ll tell you how I see this situation being resolved, without damaging good relationships between friends.

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Market Watch June 2016 – Strong Sales Growth Continues in May

As the weather warmed, the Canadian resale market continued its steady pace upwards, continuing an above average trend for the month of May. Consumer confidence amongst home buyers remains strong and is reflected by increased unit sales in all housing categories. The tighter market conditions have resulted in price growth well above the rate of inflation in most market segments.

  • Ontario –  Strong Sales Growth Continues in May
  • British Columbia – Demand remains elevated across the Metro Vancouver housing market
  • Alberta – Single family home sales are on the rise

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