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CedarvaleMarket Watch

Figures are based on all MLS® sales as reported by theToronto Real Estate Board. Market values depend on otherfactors not shown above.

CEDARVALE REPORT

Eglinton Avenue West

St. Clair Avenue West

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Maurice Gherson's

Your Neighbourhood Real Estate Newsletter August 2013

Recent Sales(April 2013 – June 2013)

#sold avg days onprice market

Detached3 Storey6 bedroom 1 2,760,000 4

2 Storey2 bedroom 1 539,000 73 bedroom 8 912,252 84 bedroom 4 1,278,255 215 bedroom 1 1,350,000 7

1½ Storey3 bedroom 1 865,000 3

Bungalow2 bedroom 4 530,875 8

Semi-Detached3 Storey3 bedroom 1 692,000 10

2½ Storey2 bedroom - - -

2 Storey2 bedroom 1 365,000 623 bedroom 3 522,500 26

MauriceGHERSONPrestigious Gairdner Award for Sales Achievement 23

TORONTO’S #1 REAL ESTATE BROKERAGE FOR THE ENTIRE GTA** based on 2004 to 2012 value of listings sold from the TREB MLS.

Direct: 416.418.3001 | Office/Pager: 416.489.2121

477 Mount Pleasant Road Toronto, Ontario M4S 2L9Royal LePage R.E.S. Ltd., Johnston and Daniel Divison, Brokerage

[email protected]

Sales Representative

M

“ASK YOUR NEIGHBOURS”

23 YEAR CEDARVALE RESIDENT

*

If you live in a semi-detached home and arethinking of moving up to a detached house,there’s never been a better time to list your

home for sale. Semis are hot – the average semi-detached homein the GTA sellsfor more thanthe asking price.In the City ofToronto, semisare selling for103 per cent ofthe list price,after an averageof 14 days onthe market.

The averageprice of a semi-detached home in the city is now more than$615,000, an increase of 9.5 per cent comparedto last year at this time. In the 905 regions,average price of a semi is up by 3.7 per cent, tojust over $410,000.

Detached homes are also selling well and ashortage of listings is driving up prices. Theaverage detached home in the GTA is now pricedat more than $665,000. In the City of Toronto,

the average detached house sells for more than$865,000. That¹s 99 per cent of the list price,selling after an average of 18 days on themarket. In the 905 regions, the average detached

home sells forjust under$ 6 0 0 , 0 0 0 .D e t a c h e dhome pricesare up by 8.1per cent in theCity of Torontoand by 4.9 percent in the905 regions.

Sales arealmost thesame as at this

time last year, but there are fewer new listings.Mortgage interest rates have crept up slightly

in recent weeks, and some observers believe homebuyers are rushing to lock in low ratesbefore there’s another increase. While a largerate hike is not anticipated, buyers shouldmake sure that when they buy a house theywill be able to afford an increase in mortgagepayments.

Semi-detached leads the marketListings drop & prices rise

Units Sold

8,442 9,959 9,129 9,061

Resale Home Prices – Junein the Greater Toronto Area

Source: TREB

2010

2011

2012

2013

$550,000

$525,000

$500,000

$475,000

$400,000

$450,000

$425,000

$375,000

$575,000

Ave

rage

Pric

e

Not intended to solicit buyers or sellers currently under contract with a brokerage. The information and opinions contained in this newsletter are obtained from various sources believed to be reliable, but the accuracy cannot be guaranteed. The Publisherassumes no responsibility for errors or omissions or for damages resulting from using the published information and opinions. This newsletter does not render legal, accounting or other professional advice.Whole or partial reproduction is forbidden withoutwritten permission from the publisher. © Clear Communications 416-422-5754

NOW’S THE TIME

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II hhaavvee ggeennuuiinnee BBuuyyeerrss sseeeekkiinngg hhoommeess iinn CCEEDDAARRVVAALLEE

PPlleeaassee ccaallll mmee iinn ssttrriicctteesstt ccoonnffiiddeennccee aatt441166..441188..33000011..

Maurice GHERSON Prestigious Gairdner Award for Sales Achievement






[email protected]



Direct: 416.418.3001

Royal LePage R.E.S. Ltd., Johnston and Daniel Divison, Brokerage

Office/Pager: [email protected]








[email protected]



Direct: 416.418.3001










[email protected]



Direct: 416.418.3001




MortgageRates

* Above rates are posted rates of amajor institution and subject tochange. Rates are negotiable with in-dividual lenders.

Featured ListingsRARELY AVAILABLE-LOWER CHILTERN HILL NEW LISTING – AVENUE RD/LAWRENCE

EXCLUSIVE, prime Cedarvale 60 x 120 Foot LevelLot!! Spacious 4+1 Bdrm Georgian, High Bsmnt.Renovate, Add On or Build Your Dream Home in Quietest, Prestige, Demand Location Amongst MultiMillion Dollar Properties.

July 14, 2013

Prime rate - 3.00%

1-year - 3.00%

2-year - 3.00%

3-year - 2.99%

4-year - 3.09%

5-year - 3.39%

The rainstorm in July was the biggest in Toronto’shistory and caused flooded basements throughoutthe GTA. Many homeowners reached for their

insurance policies to see if they were covered for damages,and many were probably disappointed.

According to the Insurance Bureau of Canada (IBC), mosthome insurance policies do not cover overland flooding.

If basement water damage was caused by a sewerbackup, it is covered only if you purchased specific sewerbackup coverage. This coverage is an add-on to your standard policy.

“Overland flooding usually occurs when bodies ofwater, such as rivers, dams and other watercourses, overflow on to dry land and cause damage,” says the IBC.“Since the purpose of insurance is to spread risk amongmany policyholders, flood insurance for those at risk wouldbe unaffordable.”

Sudden and accidental rupture of your plumbing pipesand appliances is covered in home insurance policies, butdamage caused if you allow the pipes to freeze is probably not covered.

The IBC states that damage to vehicles from water isusually covered if you have purchased all perils or comprehensive insurance. This is not mandatory coverageso you should check your policy to see if you have it.

If your basement has flooded, IBC encourages you todry the area within a few days to prevent mould growth.If you have had a flood because of a sewer backup, avoidcontact with the water and do not cross-contaminate unaffected areas by walking in and out of the contaminated areas, warns the IBC.

Take preventative action by moving your valuables fromthe basement to the upper floors of your home. For more information, visit ibc.ca or call 1-800-387-2880.

Water damage in homesWhat does your insurance cover?

EXPERIENCE, INTEGRITY, RESULTSWhat’s your home worth?

Call me today at 416.418.3001

Magnificent Builder’s Personal, Customized, Residence. State of the Art Upgrades Just InstalledThroughout. Rare, Prime 50’x115’ Richly Landscaped Lot. 3500 Sq Ft, 4+1 Bdrms, 11’ Ceilings, Gourmet Kitchen, Library, Home Theatre,Wine Cellar. Dbl Garage, 4-Car Drive.

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Exceptional Design & Quality. 5+1 Brm, 7500 sfSpacious Principal Rooms, Gourmet Kitchen, Family Room, Library - 11' Ceilings, IncredibleSpa/Pool Retreat, 190' Deep Landscaped Lot, Park 6Cars. BSS & UCC Schools.

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