Steven Maislin Broker

Steven  Maislin

Steven Maislin Broker

Office:
416-782-8882
Mobile:
416-518-7701
Email Me
Find Your Dream Home, Steven Maislin REALTORFree Real Estate Reports, Steven Maislin REALTOR

Condominium Guide



Condo of the Week: $1.4 million for a Mimico townhouse with the view of the lake


    

Address: 5 Marine Parade Drive, Unit 121

Neighbourhood: Mimico

Agent: Steven Maislin, Re/Max Realtron Realty Inc., Brokerage

Price: $1,450,000.00

The Place: A large townhouse near the lake in south Etobicoke.


July 2015

Dear Friend,

I am constantly asked whether the media is correct, that there will be a market correction. A market correction has been predicted since 1998 but so far it has not occurred. The reality is that at some point there will be a lack of demand for real estate brought about by fear or perhaps large increases in interest rates. This fear will create a temporary drop/correction in the value of real estate. Unfortunately no one knows when that will occur. However, once that fear disappears and people get used to the new interest rates (we had a very strong market in Toronto in the early eighties with a 20%+ interest rate), prices will continue to increase again.

Why do prices continue to increase? Two major factors: One is the fact that there is constant inflation in the cost of building a new home. It starts with the cities charging more for supplying services such as water and sewage and more for building permits. The price of building supplies and workmen also increases, so as it costs more to buy a new home, existing homes increase in value. The second factor is population. As the city continues to grow through immigration and births, there is a shortage of living space and prices increase due to demand. Toronto is in its infancy of growth. We have 3,000,000 people compared to cities like New York and London, with populations of over 8,000,000.

Here's the real question; do you really care about a price adjustment? If you're planning to buy today and sell tomorrow for profit, yes you should be concerned about a price adjustment. However if you're buying your home today and plan to live in it for the next 5 to 10 years, chances are that if there is price adjustment it will miss you and prices will continue to go up. If you're buying an investment property and you buy it and you rent it out and you have a good tenant paying your rent, if the value of the property goes down by 15%, it does not impact your rental rate. And even if you decide to sell your home five years from now and the value of your property has dropped by 15% don't forget that the home that you're going to be buying will also have dropped by 15% so it really does not impact your ability to buy and sell.

My recommendation is to ignore the media that is trying to sell advertising. Prices may at some point in time be temporarily depressed, but eventually due to demand, home prices will always increase.

Have a great July!

Your Friend in Real Estate

Steven Maislin, R.E.B.B., I.R.E.S.
Broker


PS. Another record month of sales in June, with the average price of a home on the Toronto Real Estate Board increasing to $624,938.

PSS. I am never too busy for your referrals!




Real Estate News

  • Pie And The Environment - Mondaq News Alerts (registration) 5 hours 8 min old

    Pie And The EnvironmentMondaq News Alerts (registration)When leasing commercial property in Ontario, one of the most significant risks faced by both landlords and tenants relates to potential liabilit...y for environmental contamination on the property. There are a number of Ontario statutes that, directly or ...and more »

  • Betting against the Canadian real estate market: is a bubble about to burst? - CBC.ca 2 days 16 hours old

    CBC.caBetting against the Canadian real estate market: is a bubble about to burst?CBC.caSpeculation about the Canadian housing market right now is wild, with private investors and even the Bank of Can...ada warning that housing in this country could be overvalued by as much as 30 percent. This week, a Toronto-based mortgage brokerage called ...

  • Sneer all you want, Vancouver and Toronto: Windsor, Ontario's recession ... - Financial Post 2 days 18 hours old

    Financial PostSneer all you want, Vancouver and Toronto: Windsor, Ontario's recession ...Financial PostBut being a real estate professional from Western Canada, Rho-Orion's White says he's... more comfortable with the vagaries of boom-and-bust towns than many Ontario investors. He's confident that a major urban centre with more than 300,000 people isn't ...



HOT Properties

5 Marine Parade Dr, Toronto Real Estate
  • Toronto: $1,450,000
  • Type: Condo Townhouse
  • Bedrooms: 2
  • Bathrooms: 3

Unique Lifestyle Living. Toronto Life's "Condo Of The Week" - Designers Own Townhouse Fronting On Lake Ontario With Unobstructed Views Of The Lake And Downtown. Adj Humber Bay Sanctuary. Beautifully Appointed With Hardwood Floors, Granite, Marble, Large Rooms, Bronze Custom Staircase, Landscaped Gardens And Terrace, Private Large 2 Car Garage. Motorized Blinds, Skylight, In-House Gym And Sauna, Laundry Chute And Much More.

View Complete Listing
© RE/MAX Realtron Realty Inc, Brokerage **Independently Owned & Operated416-782-88822815 Bathurst Avenue, Toronto, Ontario, M6B 3A4
REALTOR website by InCom Real Estate
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association