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Transit Town Hall meeting Yonge and Eglinton

On Monday, October 22nd I attended the Transit Town Hall meeting arranged by Councillor Josh Matlow, located in North Toronto Memorial Community Centre. The meeting discussed the Eglinton Crosstown LRT, Yonge subway overcrowding, new transit funding tools, University-Spadina line expansion and a Downtown relief line.


Speakers and presenters included, Paul Bedford (former Chief Planner, City of Toronto), Richard Joy(Toronto Board of Trade), Steve Munro(Transit Expert), and representative from Metrolinx and the TTC. Below are some key notes from the meeting.


The Downtown relief line is becoming a first priority. The Yonge line is over congested, and new transit downtown needs to be developed to deal with a growing passenger congestion crisis. Proposed images for Downtown relief line.


The Eglinton-Scarborough LRT completion is set for 2020. During construction, Eglinton will be reduced to one lane both ways from Dufferin to Glen Cedar Road(just west of Bathurst). The cost for Eglinton-Scarborough project is estimated at $4.9Billion. You can access more details on the Eglinton-Scarborough Crosstown at www.thecrosstown.ca. Keep informed with community webpage Eglinton 2020.


The Yonge line is over capacity during peak hours. Expansion of the Yonge line to Hwy7 will not begin until there is congestion relief. The expansion of the University-Spadina line is suppose to give some relief to the Yonge line. Subway signal mechanism has not been updated since 1954.


New transit funding ideas include: driving tolls, congestion charges, sales or payroll or parking taxes, gas taxes, shunting property tax uplift to a dedicated fund, tax on Hamilton residence, and more.


There was a large attendance from the local community, and many people eager to ask questions.


Yonge & Eglinton Area Developments:


a>    Tentative Application for 39 story development Duplex & Eglinton

b>   Sammy’s Garage, Hillsdale & Yonge tentative 9 story development

c>    Davisville Jr. Public School proposed a 12 story point tower on property residential zoning

d>   Bazis International 64 and 38 story condominiums NE corner Yonge/Eglinton. Dispute no towers should be hirer than Minto Quantum 54 stories.

Alex Melconian
Sales Representative
RE/MAX Hallmark Realty LTD.
O: 416.494.7653 C: (647) 887-7995
W:
www.TorontoRealEstateGTA.com

Front Cover of National Post


Posted Monday, October 29, 2012 9:14 PM by Alex Melconian | 1 Comments


Attachment(s): LRT Meeting question line.jpg

Re/Max 100% Club Award

Posted Sunday, March 18, 2012 10:41 AM by Alex Melconian | 1 Comments

Minto Quantum North Tower Annual Christmas Gala Party - 2191 Yonge Street

At 7pm sharp on December 8th, the Winter Gala opened its doors to residents from the lofts, the low rise and high rise section of Minto Quantam North Tower. Festive decorations were streamed from wall to wall while residents were graciously welcomed into the party by Social Committee members, such as myself. While many residents enjoyed the bubbly music, compliments go to DJ Kasin, others scooted off to the bar, to indulge in a glass of wine and delightful hors d'oerves. One of my favorites included the fresh veggie spring rolls designed and delivered by Karen Quong. A night not to be missed, with friends mingling and conversations galore, I could not help but notice what a great gathering of people live under one roof.

Over the past year, I have made many friends and business clients in the North Tower, both of which have helped my business prosper tenfold. At this particular event, one of my clients and neighbouring residents, expressed their gratitude at the party, with a lovely housewarming gift for my wife and I. 

I am very grateful to be surrounded by such a great community of people and look forward to celebrating another amazing year!

Alex Melconian
Sales Representative
RE/MAX Hallmark Realty LTD.
O: 416.494.7653 C: (647) 887-7995
W:
www.TorontoRealEstateMLS.com

Front Cover of National Post

Linked-In profile

Posted Thursday, January 05, 2012 6:51 PM by Alex Melconian | 1 Comments

Tis' the Season to Give - The Salvation Army

On December 8th, Minto Quantam 2 North Tower held their second annual Winter Gala Christmas Party.
As a social committee member, I greeted residents at the door and informed them about the building's Christmas donation to the Salvation Army. While many residents mingled and enjoyed festive eats and cheery music, I was able to raise $120. I matched the amount and donated a total $240! Recalling last year's event we were able to raise a total $308.14.

Soon after the event, I hand delivered the cheque to the Salvation Army at Yonge and Eglinton. To say the least, they were extremely grateful for the donation, which will support their ongoing food program. Donating my time and raising money for a good cause was a very rewarding task, and I will continue to strive to make our community a better place.


Alex Melconian
Sales Representative
RE/MAX Hallmark Realty LTD.
O: 416.494.7653 C: (647) 887-7995
W: www.TorontoRealEstateMLS.com

Posted Thursday, December 29, 2011 3:58 PM by Alex Melconian | 1 Comments

Talk with Brian Persaud

I found this article to be interesting, so I wanted to share it with you.

 

BuzzBuzzHome: You seem to be all over the real estate scene, but you're not a realtor. What do you do?

Brian Persaud:
I'm a full time real estate investor. I started out by buying my first investment property while I was a student at the University of Toronto. That property turned out to be a home run, and the cash flow I generated allowed me to cover my expenses so that I didn't have to work a regular job.

As I started to get better at investing people kind of took notice and asked me to buy property with them. I turned this into a business whereby I tend to earn my partners extraordinarily high returns on our properties. Over time, my reputation as an expert in real estate started to grow and the right people started to find out. I was approached to audition to become the host of Inside Toronto Real Estate for Rogers TV. Somehow, without ever having being on TV, I won the job.

Since then, I've become a producer of the show, I've signed a book deal with the largest business book publisher in Canada to write a book on pre-construction condos and I regularly speak to groups on all things Toronto real estate.

BBH: What did you do before real estate?

BP: I was planning to become a doctor. The program I was in was very research-intensive and my professors taught me to think critically. As a result, I never take anything at face value. I apply this level of thinking to real estate and I think this is why I became successful at understanding what opportunities are.

BBH: How exactly did you get into the real estate game?

BP: While in university I saved up $15,000 to buy a 'suped-up' Honda Civic, but a friend of mine who was an expert on cars advised me not to buy it. After we had this conversation I began to ask myself 'What the heck should I do with all this cash?' That's when I picked up the book Rich Dad Poor Dad by Robert Kiyosaki. After reading that book I learned the value of investing money to earn income. The rest is history.

BBH: What do you look for in an investment property?

BP: Today I strictly focus on value in markets that I understand inside and out. What I mean by value is a property that is either below market value or that can be rezoned or repositioned, with some work, to be worth more.

BBH: As your education isn't directly related to real estate, did you find it a tough learning curve?

BP: Real estate is a practice. You gain your skills by actually doing deals and upgrading your education as you go. For the most part I learned what I know directly from successful real estate professionals. From realtors to private equity investors to lawyers and real estate analysts, I regularly bounce ideas off people as to how to do certain deals then try to apply that knowledge.

I owe a lot of my success to four people in particular. One is Don Campbell, the president of the Real Estate Investment Network; two are realtors with huge wealths of experience; and the final one was probably the best commercial/retail developer in the world, the late Paul Oberman.

BBH: You're known for your vast knowledge of real estate. Care to name your best information sources?

BP: At the broad level, the Canadian Mortgage and Housing Corporation, Statistics Canada, Genworth, the Canadian Association of Accredited Mortgage Professionals, the Canadian Bankers Association, Toronto Real Estate Board, Urbanation and Realnet.

For my local expertise I focus on getting first-hand knowledge from experts like realtors, lawyers and mortgage brokers. However, lately I've been relying heavily on social media and internet forums (of which BuzzBuzzHome is one of the best).

BBH: Aww thanks! You're also a TV personality. Do people recognize you on the street?

BP: Oh yeah, lots of times. The most funny experience was eating at Joon's, a Korean restaurant in the Annex. The owner of the store asked to take a picture of me and didn't want me to pay the bill. I was with a friend that I've known since kindergarten - she was in awe!

BBH: When not beating the streets, what do you do for fun?

BP: For fun, I love to read. I try to read two books a month. I really enjoy real estate and I want to become the best I can be so the books I focus on are mainly on negotiation, personal development, architecture, strategy, and economics. I learned the value of reading at a young age from my dad and as I got older from Paul Oberman. Both of them were great ideas people, and they developed their ideas by reading.

BBH: Any advice for young people wanting to get into the real estate game?

BP: I would suggest pledging your indentured servitude to a world-class professional in a chosen field (like say a developer, a real estate agent or a financier) and then work your ass off while doing your own deals on the side.

Posted Monday, May 16, 2011 4:27 PM by Alex Melconian | 1 Comments

Condos on the market in Toronto

1. THE ADDRESS AT HIGH PARK: Bloor St. W. and Indian Rd. Builder: Chestnut Hill Homes. A 12-storey, 108-unit glass and brick building. Prices: from $329,000 for 728 sq. ft. to $595,900 for 1,261 sq. ft. Fees: 49 cents per sq. ft., plus hydro. Amenities: party room with caterer’s kitchen, fitness room, theatre room, terrace, guest suite and individual lockers on each floor. Sales: 92 per cent sold. Status: under construction. Occupancy: N/A. Sales centre: by appointment, call In2ition Marketing, 905-286-5270, info@theaddressathighpark.com, www.theaddressathighpark.com

2. ART CONDOS: 40 Dovercourt Rd. south of Queen St. W. Builder: Triangle West Developments. An 11-storey glass building with 152 units on a four-storey glass and stone podium. Prices: from $238,990 for 460 sq. ft. to $696,990 for 1,302 sq. ft. Fees: 49 cents per sq. ft., plus hydro. Amenities: rooftop deck with outdoor fire pit, barbecue and hot tub, lounge with catering kitchen, exercise studio, boardroom, business centre and concierge. Sales: 82 per cent sold. Status: under construction. Occupancy: May 2012. Sales centre: by appointment, 416 535-7775, info@artcondos.ca, www.artcondos.ca

3. AZUL CONDO TOWNS & LOFTS: 1636 Dundas St. W. west of Brock St. Builder: We Care Community Living Ltd. A gated community of a lowrise condos and townhouses with 27 units in total. Prices: condo units from $289,900 for 895 sq. ft. to $409,000; townhouses from $556,000 for 1,230 sq. ft. plus $5,000 premium for an end unit. Fees: about 30 cents per sq. ft., plus utilities. Sales: 90 per cent sold. Status: under construction. Occupancy: units spring 2011; townhouses fall 2011. Sales centre: by appointment, 416-821-6964, www.azulcondos.ca

4. BLISS: 55 East Liberty St. west of Strachan Ave. A 20-storey building with a 10-storey podium and 276 units. Builder: CanAlfa. Prices: from $386,400 for 867 sq. ft. to $487,900 for 1,146 sq. ft. Fees: 45 cents per sq. ft., plus hydro. Amenities: indoor pool and hot tub, fitness centre, guest suites, party room, outdoor rooftop barbecue lounge, 24-hour concierge. Sales: two left. Status: built. Occupancy: immediate. Sales centre: 80 Lynn Williams St., 416-537-0047, www.liveinliberty.com

5. BOHEMIAN EMBASSY: 1169/1171 Queen St. W. west of Dovercourt Rd. Builder: Pemberton Group. Phase 1 will be a 19-storey south tower. Phase 2 will be an 8-storey north tower with a total of 375 units. Prices: from the $300,000s for 540 sq. ft. to a $971,000 penthouse with 1,640 sq. ft. Amenities: concierge, landscaped courtyard, rooftop lounge with a catering kitchen and barbecue areas, multi-media lounge, guest suite and fitness centre. Sales: undisclosed. Status: under construction. Occupancy: summer 2011. Sales centre: 1093 Queen St. W. , 416-516-1212, www.pembertongroup.com

6. BRIDGE: 38 Joe Shuster Way north of King S. W. Builder: Urbancorp. A 22-storey building with 517 units. Prices: from $186,990 for 415 sq. ft to $346,990 for 830 sq. ft. Fees: 50 cents per sq. ft. Amenities: indoor pool, whirlpool, sauna, fitness centre, game/lounge room, party room. Sales: two left. Status: under construction. Occupancy: December 2010. Sales center: 1100 King St. W., 416-516-1336, www.urbancorp.com

7. CURVE: 170 Sudbury St. south of Queen St. W. Builder: Landmark Building Group. An eight-storey building with 135 units. Prices: from $183,990 for 400 sq. ft to $335,990 for 700 sq. ft. Fees: 47 cents per sq. ft. Amenities: indoor pool, whirlpool, yoga studio, fitness centre and media lounge/party room. Sales: 80 per cent sold. Status: under construction. Occupancy: spring 2012. Sales center: 1151 Queen St. W., 416-516-5848, www.urbancorp.com

8. DNA3: 1030 King St. W. at Shaw St. Two 14-storey towers with 570 units. Builder: Canderel Stoneridge Equity Group Inc. Prices: from the $300,000s for 545 sq. ft. to over $400,000 for a 769 sq. ft. loft. Fees: about 55 cents per sq. ft. Amenities: outdoor rooftop terrace with barbecue, dining areas, , sun deck and misting station, fitness centre, yoga room, rain room, spa beds, party rooms with lounge and bar, business centre and theatre. Sales: over 90 per cent sold. Status: construction not started. Occupancy: March 2013. Sales centre: 1030 King St. W., 416-929-1030, www.dnacondos.com

9. EDGE ON TRIANGLE PARK: 2 Lisgar St. south of Queen St. W. Builder: Urbancorp and Plazacorp. A 16-storey building with 450 units. Prices: from $189,900 for 365 sq. ft. to $290,900 for 695 sq. ft. N/A. Fees: N/A. Amenities: fitness and exercise centre and party room. Sales: N/A. Status: construction not started. Occupancy: summer 2012. Sales centre: 1151 Queen St. W., 416-516-1336, www.urbancorp.com

10. EPIC ON TRIANGLE PARK: 68 Abell St. south of Queen St. W. Builder: Urbancorp and Plazacorp. A 15 storey building with 400 units. Prices: N/A. Fees: N/A. Amenities: N/A. Sales: coming soon. Status: construction not started. Occupancy: N/A. Sales centre: www.urbancorp.com

11. FUZION: 20 Joe Shuster Way north of King St. W. Builder: Urbancorp and First Capital Realty. A 15-storey building with 271 units. Prices: $180,990 for 415 sq. ft to $302,990 for 715 sq. ft. Fees: 50 cents per sq. ft. Amenities: fitness and exercise centre and party room. Sales: 70 per cent sold. Status: under construction. Occupancy: summer 2012. Sales centre: 1100 King St. W. 416-516-1336, www.urbancorp.com

12. JUNCTION TRIANGLE LOFTS: 229 Wallace Ave. at Bloor St. W. and Lansdowne Ave. Builder: Urban Works Developments. A collection of 10 exclusive two-floor clear span loft units designed for creative and professional uses. Prices: from $619,900 to $699,900 for 1,450 sq. ft. on ground floor and 1,250 sq. ft. on second floor, plus 180-sq.-ft. terraces. Fees: $150 per month. Amenities: N/A. Sales: 50 per cent sold. Status: built. Occupancy: move-ins for owners with flexible open space requirements are immediate. Sales centre: by appointment, call Michael Wacholtz at Freeman Real Estate Ltd., 416-535-3103, www.229wallace.com

13. KING WEST CONDOMINIUMS IN LIBERTY VILLAGE: East Liberty St. west of Strachan Ave. Builder: Plazacorp Urban Residential Communities. Three terraced towers rising from a common podium. Podium on the north side is 7 storeys and 3 storeys on the south side. The west tower is 23 storeys, the centre and east towers are 25 storeys with 1,172 units in total. Prices (parking and locker included): from $ 299,900 for 610 sq. ft. to $ 763,900 for 1,376 sq. ft with a 1,173-sq.-ft. terrace. Fees: 44.7 cents per sq. ft., plus hydro. Amenities: 24-hour concierge, indoor swimming pool, two hot tubs, his and hers change rooms with steam room, fitness area with yoga and stretching area, table tennis, two bowling lanes, arcade and concession area, movie theatre, sports simulation room with Wii compatibility, two billiard rooms, guest suites, a la carte spa facility, 25th-floor lake view club with lake view terrace. Sales: 87 per cent sold. Status: under construction. Occupancy: June 2013. Sales centre: 14 Strachan Ave., 647-341-1731, www.plazacorp.com; www.kingwestlife.com.

14. LIBERTY CENTRAL: 51 East Liberty St. west of Strachan Ave. Builder: Can Alfa. A 25-storey building with 384 units. Prices: N/A. Fees: N/A. Amenities: rooftop lounge with outdoor lap pool, hot tub, and misting station, fitness and yoga centre, and party room. Sales: opening March 2011. Status: construction not started. Occupancy: N/A. Sales centre: 80 Lynn Williams St., 416-537-0047, www.liveinliberty.com

15. LIBERTY MARKET LOFTS: East Liberty St. and Strachan Ave. Builders: Lifetime Developments and BLVD Developments. A 13-storey glass building with a private landscaped courtyard. Prices: from $437,990 for 715 sq. ft. to $494,990 for 733 sq. ft. A 760 sq. ft. penthouse is available for $454,990. Fees: 46 cents per sq. ft., plus hydro. Amenities: business centre with meeting rooms, social lounge, indoor basketball half-court, tool room, pet spa/grooming facility, fitness centre, laundry area for oversized loads, lobby with rotating art gallery and executive concierge service. Sales: five penthouses left. Status: under construction. Occupancy: spring 2012. Sales centre: by appointment, 416-849-3798, www.libertymarketlofts.com

16. LIBERTY ON THE PARK: 69 Lynn Williams St. west of Strachan Ave. Builder: CanAlfa. A 15-storey building with 201 units. Prices: from $319,900 for 635 sq. ft. to $659,900 for a 1,213-sq.-ft. penthouse. Fees: 49 cents per sq. ft. Amenities: party room and fitness centre. Sales: three left. Status: construction starting spring 2011. Occupancy: summer 2012. Sales centre: 80 Lynn Williams St., 416-537-0047, www.liveinliberty.com

17. LIBERTYPLACE: 150 East Liberty St. west of Strachan Ave. A 32-storey, 462-unit building. Builder: CanAlfa. Prices: from $259,900 for 508 sq. ft. to $621,900 for 1,260 sq. ft. Fees: 49 cents per sq. ft. Amenities: gallery, party room, fitness centre, guest suites, Internet lounge, and yoga studio. Sales: six left. Status: construction starting spring 2011. Occupancy: summer 2014. Sales centre: 80 Lynn Williams St., 416-537-0047, www.liveinliberty.com

18. LIBERTY TOWERS: 59 East Liberty St. west of Strachan Ave. A 25-storey, 266-unit building. Builder: CanAlfa. Prices: from $499,900 for 1,190 sq. ft. to $542,900 for 1,323 sq. ft. Fees: 41 cents per sq. ft., plus hydro. Amenities: indoor pool and hot tub, fitness centre, guest suites, party room, outdoor rooftop lounge, 24-hour concierge. Sales: three left. Status: built. Occupancy: immediate. Sales centre: 80 Lynn Williams St., 416-537-0047, www.liveinliberty.com

19. MOTIF LOFTS AND TOWNHOUSES: Ossington St. and Rebecca St. Builder: Reserve Properties. 19 lofts and six four-storey townhouse along Rebecca St. Five-storey loft structure is framed by charcoal brick and has large windows on the lower floors. The townhouses exterior is charcoal grey brick and trimmed with natural IPE wood. Prices: townhouses from $849,900 for 1,886 sq. ft., lofts from $299,900 for 550 sq. ft. to $619,000 for 1,120 sq. ft. Fees: townhouses $525 per month, plus hydro; lofts 52 cents per sq. ft. Amenities: N/A. Sales: just opened. Status: construction to start spring 2011. Occupancy: December 2012. Sales centre: 41 Ossington Ave., 647-352-4141, www.MotifLife.com

20. LTD CONDOMINIUMS: Bathurst St. and Fleet St. Builder: Malibu Investments Inc. A 15-storey, 199-unit mostly glass building. Prices: from $329,900 for 647 sq. ft. to $487,900 for 1,007 sq. ft. Fees: 48 cents per sq. ft., plus hydro. Amenities: concierge, fitness room, boardroom, party room with kitchen, espresso bar, billiard room, home theatre, guest suite, lounge opening onto outdoor terrace with kitchen and barbecue, sun terrace and outdoor theatre. Sales: 84 per cent sold. Status: under construction. Occupancy: September 2011. Sales centre: by appointment, 416-601-2223, www.ltdcondos.ca

21. MINTO775 KING WEST: King St. W. west of Bathurst St. Builder: Minto. Two towers with 350 units atop a five-storey brick podium. The west tower is 12 storeys with terraced residences, the east tower is 17 storeys. Prices: from $210,800 for 358 sq. ft. to over $1.2 million for 1,800 sq. ft. Fees: starting at 49 cents per sq. ft., plus utilities. Amenities: party/games room, fitness facility, media room, outdoor lounge with barbecues, outdoor fireplace and movie screen. Sales: over 80 per cent sold. Status: under construction. Occupancy: fall 2012. Sales centre: 780 King St. W., 416-367-5464, minto775@minto.com, www.minto.com

22. PARC LOFTS: 25 Stafford St. just south of King St. W. Builder: Lamb Development Corp. A 10-storey building with 103 units. Prices: $309,900 for 483 sq. ft. to $1,749,900 for 2,178 sq. ft. Fees: 49 cents per sq. ft., plus heat and hydro. Amenities: recreation room/meeting room. Sales: 75 per cent sold. Status: under construction. Occupancy: August 2011. Sales centre: 786 King St. W. (Brad J. Lamb Realty Inc.), 416-368-5262, www.parclofts.ca

23. PARK LAKE: Lake Shore Blvd. W. east of Ellis Ave. Builder: Pemberton Group. Two towers 18- and 19-storeys joined by a 4-storey podium. Prices: from $295,900 for 670 sq. ft. to $478,900 for 1,145 sq. ft. Amenities: an outdoor barbecue area, exercise room, aerobics/yoga studio, dining room with caterer’s kitchen, party room, cards and billiards room, 24-hour concierge. Sales: a few suites remain. Status: built. Occupancy: immediate. Sales centre: by appointment, call Brent Davey, 416-827-8888, www.pembertongroup.com

24. Q LOFT: 1205 Queen St. W. at Dufferin St. Builder: Royal Queen Development. An eight-storey, 70-unit brick and glass building. Prices: unknown; 490 sq. ft. to 1,085 sq. ft. Fees: unknown. Amenities: unknown. Sales: coming soon in April. Status: construction not started. Occupancy: unknown. Sales centre: by appointment, www.qloft.ca.

25. QUAY WEST AT TIP TOP CONDOMINIUMS: Stadium Rd. south of Lake Shore Blvd. W. Builder: Monarch Corp. A 23-storey tower with 364 units. Prices: from $911,990 for 1,567-sq.-ft. penthouse suites. Fees: 39 cents per sq. ft., plus hydro. Amenities: private landscaped courtyard, spa with rinsing showers, whirlpool and sauna, billiard room, theatre, cyber café, fitness centre, party room, car wash bay, guest suites, and 24-hour concierge. Sales: 99 per cent sold. Status: built. Occupancy: 30 to 90 days. Sales centre: 68 Marine Parade Dr., 416-495-3544, www.monarchgroup.net

26. RIVERHOUSE AT THE OLD MILL: Old Mill Rd. Builder: Lanterra Developments. A traditional exterior incorporating brick, precast stone and glass architectural details. Prices: from the $499,900s for 675 sq. ft. to over $1.7 million for 2,152 sq. ft. Fees: 51 cents per sq. ft., plus hydro and water. Amenities: 24-hour concierge, indoor pool and hot tub, steam room, exercise room, party room with caterer’s kitchen, library lounge, River Room with views of the Humber. Sales: about 30 per cent sold. Status: construction starting spring 2011. Occupancy: fall 2013. Sales centre: Old Mill Rd. across from The Old Mill Inn and Spa, 416-766-7343, www.riverhousecondos.ca

27. RONCESVALLES LOFTS: Dundas St. W. and Ritchie Ave. Builder: Triumph Developments. A six-storey building with one-, two-, and three-storey units, 56 units in total.. Prices: from $269,900 for 500 sq. ft. to $649,900 for 1,800 sq. ft. Fees: 37 cents per sq. ft. Amenities: garden courtyard with barbecue facilities, lounge with kitchen. Sales: 15 units left. Status: built, registration shortly. Occupancy: immediate. Sales centre: by appointment at Toronto LOFTS Realty Corp., 416-538-5638, www.torontolofts.ca

28. THE TOWER AT KING WEST LIBERTY VILLAGE: 125 Western Battery Rd. west of Strachan Ave. Builder: Plazacorp Urban Residential Communities. 27-storey building with 390 units. Prices (parking and locker included): from $ 322,900 for 594 sq. ft. to $568,900 for 987 sq. ft. Fees: 38 cents per sq. ft., plus hydro. Amenities: 24-hour concierge, fitness room, lounge, screening room, billiard room and party room. Sales: 87 per cent sold. Status: under construction. Occupancy: expected December 2012. Sales centre: 14 Strachan Ave, 647-341-1731, www.plazacorp.com or www.thetowercondominiums.com

29. WEST HARBOUR CITY PHASE 1: 628 Fleet St. west of Bathurst St. Builder: Plazacorp Urban Residential Communities. A 36-storey precast concrete and brick tower with an 11-storey podium and townhouses in the podium with total of 510 units. Prices: from $368,990 for 814 sq. ft. to $482,990 for 1,201 sq. ft. Fees: 43 cents per sq. ft., plus hydro. Amenities: indoor pool, hot tub, sauna, theatre room, fully equipped gym, piano lounge, outdoor promenade deck, yoga room, 24-hour concierge, personal services concierge and guest suites. Sales: 96 per cent sold. Status: built and registered. Occupancy: immediate. Sales centre: 628 Fleet St., 416-214-4517, www.westharbourcity.com

30. WEST HARBOUR CITY PHASE 2: Fleet St. west of Bathurst StBuilder: Plazacorp Urban Residential Communities. A 27-storey precast and brick tower with an 11-storey podium and townhouses in the podium with a total of 325 units. Prices (parking and locker included): from $349,990 for 737 sq. ft to $649,990 for 1,385 sq. ft. Fees: 41.7 cents per sq. ft., plus hydro. Amenities: indoor pool, hot tub, fully equipped gym, party room and lounge, outdoor promenade deck, 24-hour concierge and guest suites. Sales: seven left. Status: under construction. Occupancy: April, 2011. Sales centre: 628 Fleet St., 416-214-4517, www.westharbourcity.com

31. THE WESTMORELAND: 40 Westmoreland Ave. north of Bloor St. Builder: 40 Westmoreland Inc. A three-storey, 17-townhouse conversion of a 1910 church. Prices: from $499,000 for 1,024 sq. ft. to over $750,000 for 1,600 sq. ft. Fees: Minimal, plus heat and hydro. Sales: 60 per cent sold. Status: under construction. Occupancy: end of 2011. Sales centre: by appointment only, 416-743-2000, ask for Sam Diloreto.

32. WESTSIDE GALLERY LOFTS: 150 Sudbury St. south of Queen St. W. Builder: Landmark Building Group. A 20-storey building with 370 units. Price: $369,990 for 950 sq. ft. Fees: 47 cents per sq. ft. Amenities: indoor pool, whirlpool, yoga studio, fitness centre and media lounge/party room. Sales: one left. Status: under construction. Occupancy: September 2010. Sales centre: 1151 Queen St. W., 416-516-5848, www.urbancorp.com

Though we try to provide the most up-to-date information available, we cannot guarantee all buildings or features are listed. Contact us at 647.887.7995 for up to date information.

Condos in Toronto

Alex Melconian
Sales Representative
RE/MAX Hallmark Realty LTD.
O: 416.494.7653 C: (647) 887-7995
W: www.TorontoRealEstateGTA.com E: Sold@TorontoRealEstateGTA.com

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*References: TorontoStar, yourhome.ca

Posted Saturday, April 02, 2011 9:01 AM by Alex Melconian | 1 Comments

Front Page National Post Yonge & Eglinton Buzz

Yonge and Eglinton BuzzThis weekend’s paper of the National Post featured my wife and I on the front page of the Home Section. The photo was the full page of the paper. The National Post recently interviewed me about living at Yonge and Eglinton. They really liked the article and called back to do a photo shoot.

The article details about the Yonge/Eglinton neighbourhood, urban life-style, social environment and the “buzz”. If you missed the paper, below is a link to see the article.

http://www.nationalpost.com/homes/highs+midtown/4424822/story.html

By the way, I am never too busy for your referrals.

Regards,

Alex Melconian
Sales Representative
RE/MAX Hallmark Realty LTD.
O: 416.494.7653 C: (647) 887-7995
W: www.TorontoRealEstateGTA.com E: Sold@TorontoRealEstateGTA.com

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Posted Sunday, March 13, 2011 1:53 PM by Alex Melconian | 2 Comments

Social media, however you decide to define it, is constantly changing the way that people interact with friends, peers, and business.
Social media, however you decide to define it, is constantly changing the way that people interact with friends, peers, and business.Toronto Real Estate GTA - Social media

Over the last two years, BuzzBuzzHome have witnessed the change in the real-estate industry, but we have not been able to quantify the impact. However, a new study released by
Harris Interactive shows that one in ten purchasers found their new apartment or house using social media tools.

Wow! Impressive. The Harris Poll states the following:
"In fact, two in five Americans say that they have received a good suggestion for something to try as a result of their use of social media (40%), 15% say they have made a connection regarding a job opportunity, and one in ten say they have found a new apartment or house through their social media use (9%)."

Not only did 9% of respondents say that they found their new apartment or house via social media, but a whopping 40% said that they received a good suggestion for something to try as a result of their social media use.

Reference: BuzzBuzzHome Report

Alex Melconian
Sales Representative
RE/MAX Hallmark Realty LTD.
O: 416.494.7653 C: (647) 887-7995
W: www.TorontoRealEstateGTA.com E: Sold@TorontoRealEstateGTA.com

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Posted Monday, January 31, 2011 11:33 AM by Alex Melconian | 1 Comments

Today's Mortgage Regulation Changes

Three new mortgage qualification changes announced January 16th, 2011 by Finance Minister Jim Flaherty:

  1. A 30-year maximum amortization on insured mortgages over 80% LTV
  2. An 85% LTV limit on insured refinances
  3. Elimination of government insurance on secured lines of credit (aka., HELOCs)

Flaherty says these regulations are meant to “(encourage) hard-working Canadian families to save by investing in their homes and future.” Below is detailed outlook from the Ministry of Finance.

---------------------------------------------------------------------------------------------------------------

Mortgage Insurance

Mortgage insurance (which is sometimes called mortgage default insurance) is a credit risk management tool that protects lenders from losses on mortgage loans. If a borrower defaults on a mortgage, and the proceeds from the foreclosure of the property are insufficient to cover the resulting loss, the lender submits a claim to the mortgage insurer to recover its losses.

The law requires federally regulated lenders to obtain mortgage insurance on loans in which the homebuyer has made a down payment of less than 20 per cent of the purchase price (also called high loan-to-value loans). The homebuyer pays the premiums for this insurance, which protects the lender if the homebuyer defaults.

The Government backs insured mortgages in Canada. It is responsible for the obligations of Canada Mortgage and Housing Corporation (CMHC) as it is an agent Crown corporation. In order for private mortgage insurers to compete with CMHC, the Government backs private mortgage insurers’ obligations to lenders, subject to a deductible equal to 10 per cent of the original principal amount of the loan.

In October 2008, the Government adjusted its minimum standards for the mortgage insurance guarantee framework, including:

  • Fixing the maximum amortization period for new government-backed insured mortgages to 35 years.
  • Requiring a minimum down payment of five per cent for new government-backed insured mortgages.
  • Establishing a consistent minimum credit score requirement.
  • Requiring the lender to make a reasonable effort to verify that the borrower can afford the loan payment.
  • Introducing new loan documentation standards to ensure that there is evidence of reasonableness of property value and the borrower’s sources and level of income.

In April 2010, the Government took additional measured steps to support the long-term stability of Canada’s housing market and continue to encourage home ownership for Canadians. Adjustments to the mortgage insurance guarantee framework included:

  • Requiring that borrowers meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term.
  • Lowering the maximum amount Canadians can withdraw in refinancing their mortgages to 90 per cent from 95 per cent of the value of their homes.
  • Requiring a minimum down payment of 20 per cent on non-owner-occupied properties purchased for speculation.

Measures Announced Today

Today, the Government announced three changes to the standards governing government-backed insured mortgages.

Limit the Maximum Amortization Period to 30 Years

The amortization period is the length of time it will take to pay off the entire mortgage loan. It is usually much longer than the term of the mortgage. A typical mortgage in Canada may have a term of five years or less during which a specific fixed or variable interest rate will apply, and the mortgage can be renewed at the end of the term.

The measure announced today will reduce the maximum amortization period from 35 years to 30 years. For any given mortgage loan, a lower amortization period would result in a moderate increase in the monthly payment along with a significant reduction in the total interest paid over the amortization period. This measure is consistent with the principle of encouraging savings through home ownership. The following table illustrates the benefit of reducing the amortization period from 35 years to 30 years for a mortgage loan of $300,000.

Monthly Payments and Total Interest Savings Resulting From a Reduction in the Amortization Period to 30 Years for a Mortgage Loan of $300,000
Interest Rate35-Year Amortization—Monthly Payment30-Year Amortization—Monthly PaymentDifference in Monthly Payment—
30-Year vs. 35-Year Amortization
Interest Savings—30-Year vs. 35-Year Amortization
4 per cent$1,322$1,427$105$41,850
5 per cent$1,504$1,601$97$55,404
6 per cent$1,696$1,784$88$69,809

The mortgage loan amount used in the illustrative example represents approximately the size of the mortgage loan needed for an average house in Canada. According to the Canadian Real Estate Association, the national average price (based on Multiple Listing Service sales activity) for a home sold in November 2010 was $344,268.

Lower the Maximum Refinancing Amount to 85 Per Cent of the Loan-to-Value Ratio

Borrowers can refinance their mortgage and increase the amount of the loan secured against their home. The measure announced today will reduce the limit on refinancing from 90 per cent to 85 per cent of the value of the home. Refinancing lowers the borrower’s equity in their home. Reducing the maximum loan-to-value ratio on refinancing will encourage Canadians to keep equity in their home and save through home ownership.

As an illustration, for a home valued at $300,000, refinancing at 90 per cent would allow the homeowner to access up to $270,000, whereas refinancing at 85 per cent would allow the homeowner to access up to $255,000. The lower refinancing limit means homeowners will keep an additional $15,000 in the equity of their home.

Withdraw Government Insurance Backing on Non-Amortizing Lines of Credit Secured by Homes

Under the current rules, a line of credit secured by the borrower’s home, such as a home equity line of credit, is limited to a maximum of 80 per cent of the value of the home. There has been a substantial increase in the credit available to Canadians through this type of secured line of credit over the past several years, and it is an important factor in the rise in overall household debt. These loans are generally non-amortizing, which means that borrowers are not required to make regular payments on the principal amount of the loan. Moreover, these loans are almost exclusively variable rate products, which expose borrowers to the impact of rising interest rates. While regulated lenders are not required to obtain insurance on lines of credit secured by homes at the time of origination, they may choose to obtain insurance after origination through what is known as “portfolio insurance,” where secured lines of credit are pooled into a portfolio and then insured by a mortgage insurer. At the time of insurance, the benefit of the portfolio insurance is to the lender by facilitating funding, rather than to the individual borrower. Other options exist for lenders to fund their secured lines of credit.

Many lenders now offer multiple loans or a multi-segment loan secured against a borrower’s home. If a loan or a segment of a multi-segment loan is in the form of a revolving line of credit that does not amortize over time, it will no longer be eligible for government-backed insurance. However, with established scheduled principal and interest payments, a loan will continue to be eligible for government-backed insurance, provided it meets the underwriting standards set by the mortgage insurer.

Withdrawing government insurance backing on these non-amortizing products is consistent with the Government’s objective of supporting the long-term stability of Canada’s housing market.

Moving to the New Framework

The adjustments to the maximum amortization period and the maximum refinancing amount will come into force on March 18, 2011. The withdrawal of government insurance backing on lines of credit secured by homes will come into force on April 18, 2011. Exceptions would be allowed after the new measures come into force where they are needed to satisfy a binding purchase and sale, financing or refinancing agreement entered into before the corresponding coming into force dates.

Alex Melconian
Sales Representative
RE/MAX Hallmark Realty LTD.
O: 416.494.7653 C: (647) 887-7995
W: www.TorontoRealEstateGTA.com E: Sold@TorontoRealEstateGTA.com

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Posted Tuesday, January 18, 2011 4:13 PM by Alex Melconian | 1 Comments

Request Free 2011 Mini Calendar
Request Free 2011 Mini Calendar

Every year I send out a mini magnetic calendar to my clients/friends. I only send it to the people who find it useful. Some find it extremely useful. If this is something that may be useful to use, please contact me and I can mail you a copy.

Alex Melconian
Sales Representative
RE/MAX Hallmark Realty LTD.
O: 416.494.7653 C: (647) 887-7995
W: www.TorontoRealEstateGTA.com E: Sold@TorontoRealEstateGTA.com

Making Houses into Homes
Click here if you are Buying or Selling

 

Posted Wednesday, January 12, 2011 12:04 PM by Alex Melconian | 1 Comments

Holiday Season is the Time to Share - Salvation Army


Yesterday (December 9th, 2010), was my buildings annual holiday Christmas Party. Yonge and Eglinton 2191 Yonge Street Minto Quantum2 North Tower. I am currently a member of the social committee, and the we organized the event which we named Minto Winter Gala.

The event was a huge success. We had over 190 people attend. There was lots of food, drinks and we had a great dj KasonStone. The decor was beautiful. A number of staff took the time to prepare the gala, and it looked great!


Ofcourse, the holiday season is known as the time to give. Not just to family, friends, but the homeless. I took the liberty to make a donation box at the event, and make a commitment to match dollar for dollar that was donated. All proceeds go to the Salvation Army around the corner from us. I wanted to give back to a charity directly in our community.


In total, the funds raised for the Salvation Army from Winter Gala was $145.66! I got some additional donations from a few employees at Scotiabank, doubled the total and the grand total is $308.28! I gave the salvation army the cheque today and needless to say they were extremely thankful and gave me a salvation army Christmas songs CD Big Smile

Alex Melconian
Sales Representative
RE/MAX Hallmark Realty LTD.
 
O: 416.494.7653 C: (647) 887-7995
W: www.TorontoRealEstateGTA.com E: Sold@TorontoRealEstateGTA.com

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Posted Friday, December 10, 2010 6:34 PM by Alex Melconian | 1 Comments

Top10 Resons To Sell Your Home During Holiday Season!!!

It's that time of year and we receive the same question from a lot of people about whether or not to sell now. The answer is YES and here the top 10 reasons why:

  1. Inventory levels go down every year around the holidays because not everyone "needs" to sell so there is less competition.

  2. People will usually decorate their homes for the holidays putting them in a nicely staged condition and it can help attract buyers.

  3. We don't know who the competition will be after the holidays.

  4. We don't know how many properties will be for sale in the spring.

  5. We know where the competition is priced today and we don't know where they will be priced at later date.

  6. The buyers looking this time of the year are typically not tire kickers - they are real buyers.

  7. We see houses that are priced right, are in the right condition and are staged properly are attracting multiple offers recently.

  8. Interest rates are fantastic - near record lows make now an attractive time to buy.

  9. We are seeing many buyers in the market today and we don't know if they will be around after the New Year.

  10. If you are looking to buy - only serious sellers are on the market.

Alex Melconian
Sales Representative
RE/MAX Hallmark Realty LTD.
O: 416.494.7653 C: (647) 887-7995
W: www.TorontoRealEstateGTA.com E: Sold@TorontoRealEstateGTA.com

Making Houses into Homes
Click here if you are Buying or Selling

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Posted Friday, November 19, 2010 6:06 PM by Alex Melconian | 1 Comments

The Value of a Selling Agent

The Value of a Selling Agent


If I am going to sell my most valuable asset, it makes logical sense that I would want to hire a highly qualified real estate professional who can:

 

1)      Provide expert advice to maximize my equity through proper pricing models, home staging concepts and marketing strategies that create demand, increase showings and expose my home to the most amount of qualified buyers.

 

2)      Negotiate every detail on my behalf, and in my best interest, to net more money from a sale.

 

3)      Create peace of mind and the least amount of inconvenience by qualifying all potential buyers before they come through my home as well as ensure all buyers are escorted by a licensed real estate professional. (I have no interest in taking calls from deal-seeking buyers calling private for sale by owners and then allowing complete strangers into my house)

 

4)      Handle all details and provide professional advice until closing.

 

Alex Melconian
Sales Representative
RE/MAX Hallmark Realty LTD.
O: 416.494.7653 C: (647) 887-7995
W: www.TorontoRealEstateGTA.com E: Sold@TorontoRealEstateGTA.com

Making Houses into Homes
Click here if you are Buying or Selling

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Posted Tuesday, November 16, 2010 4:07 PM by Alex Melconian | 1 Comments

Street address with No. 4 is bad luck?

A Markham couple downsizing for retirement got a rude lesson recently in Chinese numerology.

 

Graham and Lucie Canning moved into a neighbourhood near Highway 7 and Woodbine Ave. in 1984, when it was “pretty much an Anglo community,” Graham Canning says.

 

Over the years Chinese restaurants opened, Cantonese lettering appeared on local business signs and the neighbourhood’s ethnic composition shifted to favour people of Hong Kong origin.

 

Such changes suited the Cannings, who continued to live happily in the area, where they raised a son and daughter. But when they recently prepared their house for sale, a real estate agent delivered a surprise.

 

In Cantonese, the word “four” is a homonym for “death” — different meanings, same sound — and the Cannings live at No. 4.

 

“Tetraphobia,” fear of 4, entered their vocabulary.

 

Having a 4 in the address can lower a home’s value — “Agents estimate anywhere between $25,000 and $35,000,” Graham Canning says.

 

“That’s about right,” says Derek Wu of Concept 100 Transcanada Realty in Markham, who is not the Cannings’ agent but knows of such sensitivities. “Sometimes people don’t mind but some people would never want to buy it.”

 

The Cannings want their house number changed.

 

Last Tuesday, they appeared before Markham’s development services committee, which rejected their request in a 7-4 vote. They are to appeal later this month to the town council.

 

Since the spring, in an apparently new phenomenon, more than a dozen homeowners have asked to change their address from No. 4, Markham development services commissioner Jim Baird said in an email interview.

 

Most asked to switch to No. 2 on streets where that number was not used, and those requests were approved, Baird said. Sometimes No. 2 is reserved for a corner lot that ends up using a number from the adjoining street.

 

The Canning case is different.

 

In British Commonwealth countries, north and west sides of streets generally carry even numbers, south and east sides odd ones — a logical numbering system that helps guide emergency responders, among others.

 

The Cannings live on the north side of a short street where houses are numbered evenly 2 to 20. The south side, with fewer houses, uses only Nos.15, 17 and 19. The Cannings are asking for either No. 3 or No. 5.

 

Such a request would be “a serious departure” from planning criteria, Baird told the committee hearing.

 

“In no case shall an existing address number be changed so as to conflict with the address-numbering criteria,” Baird’s committee also formally reiterated in September.

 

The Cannings cited a precedent: Markham council previously approved a change from a No. 4 to a No. 3 near Warden Ave. and Major MacKenzie Dr. E.

 

“It’s a different situation,” town data-management coordinator Robert Tadmore told the hearing. Only six houses line the street, not 13 as in the Canning’s case.

 

Not all Hong Kong Cantonese speakers agree that 4 is bad.

 

“I would never live in a house without the number 4,” says Paul Ng, an authority in the ancient Chinese practice of feng shui, whose Richmond Hill house number is 24.

 

“From the strict Feng Shui point of view, the number 4 means ‘scholarship,’” says Ng, who often helps developers with building orientation.

Alex Melconian
Sales Representative
RE/MAX Hallmark Realty LTD.
O: 416.494.7653 C: (647) 887-7995
W: www.TorontoRealEstateGTA.com E: Sold@TorontoRealEstateGTA.com

Making Houses into Homes
Click here if you are Buying or Selling

 

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**Reference The Toronto Star

Posted Monday, November 08, 2010 11:35 AM by Alex Melconian | 1 Comments

New winter Time-of-Use rates start November 1st

 get-nearly-twice

Take advantage of Time-of-Use rates - time shift to off-peak hours to manage your costs

November means a change to the winter Time-of-Use hours, so be sure you know when you can best take advantage of off-peak hours.

 off-mid-on

Make the move to savings. Shift the use of larger appliances such as your laundry and dishwasher to off-peak evenings and weekends - the more you can shift, the more you can save. If your appliances have timers, use them to make time-shifting even easier.

The first step - understand how and when you're using electricity

Register at Toronto Hydro's Time-of-Use site for your own dashboard where you can see your electricity usage by hour, day, week and month. This is really cool, check out the Time-of-Use site and understand how much you pay for your electricity use.

You'll see how much electricity you're using at the lowest rate off-peak hours versus the mid- and on-peak hours.

Get more time-shifting ideas at 10 Smart Meter Lane

Visit the interactive house at 10 Smart Meter Lane to dramatically see the effect of Time-of-Use rates as you're using appliances and lighting at different times of day. For example, you can insert the time you usually run your clothes dryer and learn not only how much it costs you to run it then, but how much you'd save if you shifted to a different time. You'll get many new ideas on how to take advantage of off-peak times. Go to 10 Smart Meter Lane today.

Direct link: http://www.ieso.ca/house/torontohydro/

Smart_Meter_Lane


Alex Melconian
Sales Representative
RE/MAX Hallmark Realty LTD.
O: 416.494.7653 C: (647) 887-7995
W: www.TorontoRealEstateGTA.com E: Sold@TorontoRealEstateGTA.com

Making Houses into Homes
Click here if you are Buying or Selling

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Our Blog

Posted Wednesday, November 03, 2010 9:54 AM by Alex Melconian | 1 Comments

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