March #'s are in The Toronto Real Estate Board (TREB) has released the housing figures for March, and with 7,187 sales reported across the region, volume was unchanged from the same time last year. The average sales price of all transactions rose to $788,335, representing a year-over-year gain of 0.5%. The average days on market for sold properties was 21. While March sales and pricing remained flat, the number of new listings fell 5.1% to 13,996. Active listings were also down 2.5%, leaving the current supply at approximately 2.2 months of inventory. Such low inventory would typically suggest seller’s market conditions, however, the OSFI stress test continues to impact buyers’ ability to qualify for a mortgage, which has largely kept prices and sales volume in check. As buyers look for more affordable housing options, it’s interesting to note the jump in March’s townhouse sales. Last month, 1,253 townhouses sold in the GTA, representing a 12.1% annual increase. In the 416, where housing is priced at a premium, the increase is even more pronounced, rising 15.2%. We expect to see increasing interest in similar property types until a point where pricing becomes less attractive. At an average price of $741,881, townhomes in the 416 were more than $500,000 less than the average single detached home, and only $140,000 above the average condominium, which went over the $600,000 mark. While at an average sales price of $603,969, the price of condominium apartments continues to appreciate, sales volume was down notably, as a result. In the 416, the 1,349 condo sales represent a 14.1% drop in sales from last year. As the price gap between condo apartments and high density low-rise continues to narrow in the 416, expect to see increasing demand for multi-unit low- and mid-rise housing or increased sales activity in the 905.
What does “sibling rivalry” have to do with the sale of a family home?
As it turns out, quite a bit.
In fact, in our experience, this has proven to be a key part of our work with families who hire us to sell their elderly parents’ home.
In the last 10 years, we have experienced a significant rise in the number of adult children who have consulted and then retained us to list, stage, sell and close on their parents’ home, either after they have moved into a senior’s residence or, G-d forbid, passed away.
The sort of work that we have done with families is highly specialized. Often times, there are many different emotions at play which can influence and sometimes hinder the sale process. Luckily, as a mother/daughter team, we have decades of experience helping adult children and their elderly parents manage the sale of their home - successfully, speedily and with the least amount of stress.
We have faced the presence of sibling rivalry play out in our work, which has caused us to become sensitive, skilled and capable in managing the family dynamics.
As we know, siblings generally spend more time together during their childhood than they do as adults. The sibling bond is often complicated and is influenced by factors such as birth order, gender, personality and the relationship that each child had with the parents. We have witnessed particularly intense family dynamics surrounding the sale of the family home. At times, this is influenced by financial issues such as inheritances. At other times, the intense emotions stem from unresolved past issues, the loss of the family home or, even worse, the unexpected loss of the parents.
Whatever the underlying issues may be, an experienced realtor who is skilled in family dynamics, diplomacy and estate sales is critical to ensuring that all members of the family are treated equally, fairly and respectfully, whatever the outcome of the home sale is.
If you are facing the prospect of selling your parents’ family home and/or moving them to a smaller residence such as a condominium, The Graff Girls would be pleased to assist you in transitioning your parents to their new home.
Is there an advantage to buying a new condo from the builder versus using my own realtor?
Purchasing a new condo is different from buying a resale condo. Realtors with expertise in condos make a huge difference in protecting buyers, maximizing their purchase and minimizing their cost.
As one of Toronto's top realtor teams since 1995, clients regularly have Cheryl and Samantha Graff represent them from the early stages of investigating all of the different condo options, to viewing the different sites and floor plans, to studying the historical reputation of the builder and their ability to complete construction on time and to the level of satisfaction of buyers, and then track the progress until closing and occupancy permit. Their expertise is so widely known that they have strong working relationships with the GTA’s builder's agents.
It's a good idea to have your own real estate agent accompany you on your first visit to the new condo sales office. There’s no cost to you. Why? Because the builder (aka the seller) will be responsible for paying the commission. This commission is built into the sale price and the buyer does not save when there is no realtor.
As experts in condos, Cheryl and Samantha will help you as follows:
Negotiating extras: Want upgraded counter-tops or appliances in that new condo? Need a wall removed or added? What about preferred paint colours?
Recommending financing: Cheryl and Samantha can assist you with a wider roster of mortgage lenders than from the builder.
Overseeing a home inspection: Tempted to forgo ahome inspection in a new construction? Don't do it! The number and severity of new-home defects often rival resale home problems.
Cheryl and Samantha are available to assist you and protect your interests when buying a new condo. They are knowledgeable about the neighbourhood, construction quality, industry standards, prices and available amenities. Allow Cheryl and Samantha to give you peace of mind and be in your corner.
Thinking of buying a home at Bayview and York Mills?
The Graff Girls are your local experts and can guide you to the right streets and the best home for your family.
Did you know this about Bayview and York Mills?
Bayview and York Mills encompasses the area between Yonge Street and Leslie Street, running south from Highway 401 to Lawrence Avenue.
Cheryl and Samantha know it extremely well and therefore understand why you are interested in this area. It is one of Toronto's most affluent neighbourhoods. The Graff Girls explain that the name “York Mills” stems from the former Town of “York” and the many saw “Mills” that operated in this valley from 1804 until 1926.York Mills had a distillery, a tannery ,a blacksmith shop, 3 churches, a school, a post office, a toll gate and the Jolly Miller Tavern, built in 1857, which still operates today as The Miller Tavern.
The Graff Girls explain that the transition of York Mills from a rural village to a prosperous neighbourhood started in the 1930's on the hill near St. John's Church and Hedgewood Road area, just south of York Mills Road. The highly respected St. Andrew's College owned the land East of Yonge Street to Bayview Avenue in the early 1920's before moving to Aurora. The property was purchased by St. Andrew's Estates which used the land as a championship golf course until the 1950's.
This neighbourhood really began to take off as a suburb of Toronto in the 1950’s. In 1952, E.P. Taylor, the wealthy business man and horse breeder, owned a large property which is now the Canadian Film Centre.
So The Graff Girls understand why you are thinking of buying a house here. Today, York Mills is a flourishing area. Streets are lined with mature trees and large lots. Many of the original homes built, when the area was first developed after the first World War, were in the Tudor and English Cottage design. Then mid-century, many sprawling split-level and ranch bungalows were built.
Today, these homes are being re-developed with larger, custom-built executive homes with a Classical or Georgian style. The infill housing reflects designs mimicking homes in The Bridle Path, one of Toronto’s most exclusive neighbourhoods, located directly south of York Mills. There are also many luxury condominium apartments and townhouses in the area.
Dining in Bayview and York Mills?
As for fine dining, Samantha and Cheryl are very familiar with the exquisite Auberge du Pommier restaurant located on the site of what were originally two woodcutter’s homes from the 1860’s. The area now boasts many other family style and finer restaurants.
How are the schools in Bayview and York Mills?
Feel free to ask Cheryl and Samantha about the local schools. There are several schools, public, secondary, Catholic and private, in the area, including Harrison and Owen Public Schools, St. Andrew’s Junior High, York Mills Collegiate, Loretto Abbey, The Crescent School, The Toronto French School, Bayview Glen and Crestwood School.
What about medical care in Bayview and York Mills?
The Graff Girls explain that medical care is excellent at North York Hospital, located at Sheppard Avenue and Leslie Street. World renowned Sunnybrook Hospital is located just south of York Mills on Bayview Avenue. The area now is home to dozens of healthcare providers from western medicine to naturopaths to energy practitioners and many more.
Are there nice parks in Bayview and York Mills?
Samantha and Cheryl will tell you that no area in Toronto has better parks than Bayview and York Mills. The area is known for Edwards Gardens, Wilket Creek and their many walking trails. Plus, the community boasts a hockey arena, baseball diamond, tennis courts, and the Don Valley Golf Course.
You like to shop?
The Graff Girls say that Bayview Village is the most upscale mall in the GTA. Then there’s The Shops of Don Mills and Fairview Mall within minutes of driving. You will not have to drive far to get the best shopping that Toronto has to offer.
READY TO VIEW ONE OF OUR LISTINGS IN BAYVIEW AND YORK MILLS?
Divorce raises many emotional, financial, legal and housing questions. At a time of separation, the spouses have many questions swirling around. It is at this very difficult time that homeowners need neutral, objective and expert advice.
Do I stay in our home?
Can I afford to buy out my spouse?
What can I get if I sell?
THE GRAFF GIRLS are real estate experts who have helped hundreds of divorcing couples make the right decisions.
Some of their clients decided to stay put. Samantha and Cheryl have helped them set the buy-out price and helped the other spouse relocate nearby.
Some of their clients decided to sell. In which case, Samantha and Cheryl have helped them maximize their sale price and found them new homes close by.
THE GRAFF GIRLS have a preferred list of professionals that we trust and regularly rely upon for our valued clients. Samantha and Cheryl work closely with other experts such as stagers, mortgage lenders, financial planners, family lawyers, divorce mediators, therapists and movers.
But the most valuable advice that Samantha and Cheryl give their clients is a careful and balanced review of the emotional, lifestyle, financial and legal considerations for each options.
Do I stay in our home?
THE GRAFF GIRLS have advised divorcing spouses for decades and have helped them navigate this change of lifestyle with ease, speed and integrity. The decision to remain or vacate the family home is a heavy question to answer. Cheryl and Samantha will help you consider all of the reasons to stay, and all of the reasons to sell, so that you have carefully considered all your options. Most importantly, Samantha and Cheryl are familiar with the schools, programs and services in the different parts of Toronto to assist you in considering the consequences on the children.
Can I afford to buy out my spouse?
THE GRAFF GIRLS are award winning realtors who have established their reputation at securing sellers the maximum sale price, but also the very best terms of sale (eg. closing date). This is no small matter. Samantha and Cheryl encourage and are happy to introduce you to well respected, experienced financial advisors and/or accountant sto help determine your situation.
What can I get if I sell?
THE GRAFF GIRLS will study the sale prices of all nearby properties sold and then analyze the differences to arrive at the fair market value of your home. They will also help you understand what your net proceeds will be after the sale of the property. That way, you make an educated decision to buyout your spouse.
Before you make any decision regarding the sale of your home, be sure to speak with THE GRAFF GIRLS. Cheryl and Samantha will ensure you consider all your options, and understand the ramifications of each choice. With this information, you are sure to make the right decision that is in your (and your children’s) best interests.
Since 1995, THE GRAFF GIRLS have helped over 1,000 families buy and sell their homes in the GTA. Year after year, they have maintained a high standing across the board of TREB. They were recognized in 2017 as being in the top 1.2% in sales. Source: IMS
The Graff Girls have consistently been Award Winning realtors in Toronto for over 35 years. Their achievements are a reflection of their expertise, diligence, discretion and strong negotiation skills.
Both Cheryl and Samantha are greatly respected by their clients and peers alike, as is evident by their high level of repeat business and ongoing referrals.
The Graff Girls marketing strategy goes beyond the local market of Toronto via online and print advertising through exclusive Harvey Kalles affiliations.
Toronto's real estate market has had some recent interesting comparable statistics between April 2018 and May 2018.
*Sales are up
*Active listings are up
*Average price is up
*Days on market are down
The Graff Girls have well qualified clients to purchase homes in a variety of neighbourhoods. They would appreciate the opportunity to meet with you in the strictest of confidence to provide a free market evaluation of your home.
- THE GRAFF GIRLS were in the top 6 percentile of units sold
& top .5% of value
- THE GRAFF GIRLS sold their homes in an average of 6.5 DAYS compared to the overall average of 33.2 days it took to sell a home.
- THE GRAFF GIRLS average sale was $1,794,750
- 262% higher than the TREB $495,391 average price
- THE GRAFF GIRLS sold their listings at 98.5% of asking price
*stats are from TREB (Toronto Real Estate Board)
A referral is the highest compliment our friends, family or clients can ever give to us. Thank you to all who have continued to pass our names on to their own family, friends, colleagues and/or clients. Your confidence and support is greatly appreciated.
Cheryl and I look forward to meeting your nearest and dearest in 2013 or when the time is right!
Happy April! May SPRING get its groove on sooner than later!