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$1.328 in Oakville, $940,000 in West Rouge: What these houses got

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OAKVILLE

Location: 1328 Stonecutter Dr.,

Heritage Way and Carpenters Circle

Asking price: $1,399,900

Selling price: $1,327,500

Previous selling price: $263,208 (1996)

Size: over 3,000 sq. ft.

Lot: 65-by-98 feet, built-in two car garage, private double drive, in-ground pool

Taxes: $6,985 (2018)

Bedrooms: 4

Bathrooms: 4

Sold: August 14/18. Closing: November 30/18.

This two-storey detached home sold in four days and features two bedrooms with ensuites as well as a main floor office and family room.

“This property has a landscaped yard which sides onto the wooded trails of Fourteen Mile Creek Lands. It also has an ionized in-ground pool,” says listing agent Sharon McAfee.

The home is a short walk to parks and schools, and close to a community centre, restaurants and shopping.

Main floor has: living room with laminate floor, crown moulding and bow window; dining room with laminate floor; kitchen with quartz counters, breakfast area and walkout to deck; family room with gas fireplace and laminate floor; office with French doors and laminate floor; laundry room with access to garage; powder room.

On the second floor are: master bedroom with hardwood floor and four-piece ensuite; second bedroom with hardwood floor, sitting room and three-piece ensuite; third and fourth bedrooms with hardwood floors; four-piece bathroom.

Basement is unfinished with bathroom rough-in.

Listing agent: Sharon McAfee, sales representative, Sutton Group Realty Systems Inc., Brokerage, 905-896-3333; www.suttonrealty.com

WEST ROUGE

Location: 323 Rouge Hills Drive,

Lawrence Ave. E. and Rouge Hills Dr.

Asking price: $988,800

Selling price: $940,000

Previous selling price: N/A

Size: about 1,522 sq. ft., plus about 1,072 sq. ft. finished basement

Lot: 49-by-274 feet, single-car attached garage, private drive

Taxes: $3,936 (2018)

Bedrooms: 3

Bathrooms: 3

Sold: August 01/18. Closed: September 28/18.

Selling in one week for 95 per cent of the listing price, this detached bungalow has a main floor family room and a basement office.

“This home is on a deep lot backing onto the Rouge River. It features a backyard with a fish pond and flower gardens, as well as a ravine view from the master bedroom with a walk-out to a covered porch,” says listing agent Jill Fewster-Yan.

This home is walking distance to the Rouge Beach, Rouge Hill GO Train, the TTC, schools and a community centre.

Main floor has: living room with hardwood floor and large picture window; dining room with hardwood floor; eat-in kitchen; family room with large picture window; master bedroom with four-piece ensuite, walk-in closet and walk-out to private porch; second and third bedrooms with broadloom on floors; four-piece bathroom.

Basement is finished with: recreation room with above-grade windows; office; storage room; two-piece bathroom.

Listing agents: Jill Fewster-Yan and Michelle Toon, Jill’s TEAM, Royal LePage Signature Realty, Brokerage, 416-443-0300; www.jillsteam.ca.

What They Got is compiled by freelance contributor Allison Harness, a Toronto-based real estate writer, from information that is publicly available. Send recent homes sales to soldhome@rogers.com. Not all submissions can be used.



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Affordability driving demand for condos in Toronto

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The Greater Toronto Area (GTA) saw higher sales and demand for condominium units due to increasingly affordable prices.

Data from RE/MAX revealed that the GTA accounted for nearly 37% of the total residential sales on the Toronto Real Estate Board (TREB). Market share for this segment has been tracking higher since 2013, when the transfer of condominiums covered 30% of total sales.

Seen as the only property segment that rose above the 2017 market correction, the average price of a condominium apartment hiked almost 8% to $551,761 between January and October 2018, up from $512,552 during the same period in the previous year. Townhomes prices were at $571,058, compared to $568,165 in 2017. Meanwhile, prices of freehold properties, including single-detached, semi-detached, attached/row/townhouse, and linked townhomes fell year-over-year.

Despite the rising values, these home types are well-received because most Canadians still found it affordable and a sound choice for investment.

On the other hand, it was pointed out that the increased demand for condo apartments and townhomes was driven by immigration, population growth, and lifestyle choices. 

“Aging infrastructure, combined with a lack of transportation alternatives, longer commute times and the environmental component — with efforts to reduce carbon footprint — have all played a role in buyers choosing condominiums in Toronto proper that are close to both work and play,” RE/MAX noted in a statement.

The most popular area for condominium sales was still the downtown core, with 21.9% sold in the area bordered by Bloor Street to the north, the Lakeshore to the south, the Don Valley Parkway to the east and just past Dovercourt Road in the west.

However, supply remained low, which pushes prices higher.

“Limited inventory continues to place substantial upward pressure on prices, with fewer affordable housing options available — and that includes condominium rentals,” said

Christopher Alexander, executive vice president and regional director at RE/MAX of the Ontario-Atlantic Canada Region.

As a result, buyers tend to avoid the higher prices in the core and turn to condominium communities farther afield instead.

Currently, almost 51% of condominium sales in the GTA are below the $500,000 price point, but it is worth noting that builders and developers are currently facing skyrocketing construction costs and a land crunch within the GTA.

 

Related stories:
Revival of investor immigrant program stirs academic discussion
BC enters $1B deal to provide affordable homes

 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate




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App matches you with the perfect real estate professional

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Real estate matchmaking platform Mortgage Sandbox recently beta launched a free web-based app called Match Finder in the Vancouver market. The app was conceived as a way for buyers to connect with suitable professionals that can help them find their perfect home.

“The beta program is dedicated to gathering feedback from users so that we can improve the product while rewarding participating home buyers and real estate professionals with better working relationships at no cost,” said David Stroud, founder and CEO of Mortgage Sandbox.

Similar to an eHarmony questionnaire, Match Maker asks 10 simple questions to match home buyers with three trusted, pre-screened real estate agents and mortgage brokers. Users can then make their selection to start their home-buying process.

The app was envisioned to provide a better home buying experience for all parties involved. Match Maker is a secure, cloud-based application that also provides real-time interest rates and property forecasts. It has advanced home buying calculators and can be used on a laptop or a smartphone.

“The tools are part of Mortgage Sandbox’s ongoing commitment to build the most complete home buying advice platform on the market,” said Stroud.

Stroud emphasized that Mortgage Sandbox tapped into the real experiences of Canadian homebuyers and real estate professionals to properly address issues that are encountered when purchasing homes.

“We’ve designed an easy to use, data-driven, matching tool that connects you with local, pre-screened real estate professionals who share your interests, values, and have a complementary work style,” said Stroud.

“We believe aligned values lead to better working relationships and a more successful home buying experience.”

 

Related stories:
Revival of investor immigrant program stirs academic discussion
BC enters $1B deal to provide affordable homes

 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate




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Headlines

App matches you with the perfect real estate professional

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Real estate matchmaking platform Mortgage Sandbox recently beta launched a free web-based app called Match Finder in the Vancouver market. The app was conceived as a way for buyers to connect with suitable professionals that can help them find their perfect home.

“The beta program is dedicated to gathering feedback from users so that we can improve the product while rewarding participating home buyers and real estate professionals with better working relationships at no cost,” said David Stroud, founder and CEO of Mortgage Sandbox.

Similar to an eHarmony questionnaire, Match Maker asks 10 simple questions to match home buyers with three trusted, pre-screened real estate agents and mortgage brokers. Users can then make their selection to start their home-buying process.

The app was envisioned to provide a better home buying experience for all parties involved. Match Maker is a secure, cloud-based application that also provides real-time interest rates and property forecasts. It has advanced home buying calculators and can be used on a laptop or a smartphone.

“The tools are part of Mortgage Sandbox’s ongoing commitment to build the most complete home buying advice platform on the market,” said Stroud.

Stroud emphasized that Mortgage Sandbox tapped into the real experiences of Canadian homebuyers and real estate professionals to properly address issues that are encountered when purchasing homes.

“We’ve designed an easy to use, data-driven, matching tool that connects you with local, pre-screened real estate professionals who share your interests, values, and have a complementary work style,” said Stroud.

“We believe aligned values lead to better working relationships and a more successful home buying experience.”

 

Related stories:
Revival of investor immigrant program stirs academic discussion
BC enters $1B deal to provide affordable homes

 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate




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