2. Monthly salesand average price by areaSeptember 2011Money mattersCentral ..........1,437$581,840East ...............1,780North ............1,624366,655531,718Home insurance How much is enough?West..............2,817 430,079LAugust 2011ooking at all of the severe weather in North America homeowners should insure their houses according toCentral ..........1,395 534,171this year, we have got another reason to bewhat it would cost to rebuild the house if it wasEast ...............1,633 352,186North ............1,653 522,629happy that we live in Toronto and surroundingdestroyed. This is called the replacement value, which isWest..............2,861 427,211 municipalities where hurricanes and heavy storms aredifferent from the real estate market value of your house.July 2011 relatively rare. However, you never know when you mayReplacement costs include all the costs of materialsCentral ..........1,439 555,051East ...............1,791 359,803 need to collect on your home insurance policy.to rebuild your home but there are some other costs youNorth ............1,707 524,803The Insurance Bureau of Canada (IBC) saysmight not have thought about. Some of these extra costsWest..............2,985 434,909could include finding skilled labour, especially if there isJune 2011Central ..........1,925 600,479 an availability problem. You could also run into problemsEast ...............2,214 373,309 with the building code, which has no doubt changed sinceNorth ............2,247 520,788West..............3,844 447,614 your original home was built. Your replacement costMay 2011should be enough to cover these aspects.Central ..........1,836 650,687You should also take a complete inventory of yourEast ...............2,182 365,942North ............2,288 529,906 possessions so you will know exactly what you have lostWest..............3,740 447,047 should disaster strike. You may also have purchasedApril 2011some expensive new furniture or electronics, forCentral ..........1,687 633,667East ...............1,973 370,053 example, that is not covered under your old policy.North ............2,039 517,333If you have made renovations to your home but didWest..............3,342 437,547March 2011not upgrade your insurance coverage, you may beCentral ..........1,799 585,706 under-insured, says the IBC. Visit www.ibc.ca to help youEast ...............2,013 352,226North ............1,974 506,929determine how much insurance you need. REUWest..............3,476 420,437February 2011Central ..........1,306 580,617Home safetyEast ...............1,342 349,940North ............1,285 500,728West..............2,333January 2011418,378 Happy safe holidays Minimizing the risk of hazardsCentral .............803530,176When the holidays arrive, safety issues are and wrapping paper. Make sure they are out of the reachEast ...............1,000 332,396North ...............919487,765 usually the last thing we want to think aboutof children and pets.West..............1,615 400,936as we celebrate the season. But the holidays If you have a real Christmas tree, water it daily. MakeDecember 2010Central .............896554,141 present some unique hazards that should not be ignored.sure it is in a secure stand and well away fromEast ..................992337,675 If you are decorating your home with holiday lights, radiators, heating vents, fireplaces and burning candles. ItNorth ...............873472,405make sure they have been certified by a recognized should not be near a doorway or a high traffic area.West..............1,634 405,935November 2010 organization such as CSA, ULC or C-UL. It seems obvious If you have small children, watch out for smallCentral ..........1,410 553,566 but remember to put outside lights outside and indoorobjects, such as holiday decorations, that you may notEast ...............1,399 339,238North ............1,359 470,799 lights inside. Make sure the light strings, cords andnormally have around the house. Make sure that batteries inWest..............2,342 408,470 extension cords dont have any frayed or exposed wires.toys are inserted properly and that they cannot be removedOctober 2010Do not run electrical cords under carpets or through easily. Do not let children take their battery-operated toys toCentral ..........1,308 589,786East ...............1,471 339,387 doorways where they are a tripping hazard. bed with them. After the gifts are opened, throw out packingNorth ............1,432 478,637 Be careful when using candles. Never leave burning materials such as Styrofoam, ties, plastic bags and wrappingWest..............2,470 408,286candles unattended and keep them away from decorations as soon as possible to keep the kids safe. REUSource: TREB 3. On theinternetInterestingCondo update websitesnationalballet.caMarket shows strength Future looks even more positive /TheNutcrackerThis seasonal classic is aThe GTA condominium market continues to hum per cent were over 75. perfect gem of a ballet. It isalong, driven by low interest rates and A recent report by the Conference Board of Canada traditional yet freshly attunedaffordability. In the City of Toronto, the average says that by 2030, more than 80 per cent of new housingto rhythms and accents of thecontemporary. (Dec 10 - Jan 3).condo apartment price is about 7 per cent higher than at demand will come from seniors. Seniors will be lookingthis time last year, while condo apartments have for smaller, less burdensome housing, boosting demand uknowa.comappreciated by about 14 per cent in the 905 areas. The for multiple housing units, especially condos andGet fast, online bids for youroverall average is about 9 per cent more than this time in apartments. Many seniors want to stay in their currenthome renovations fromcommunities, close to friends and family. That is why licensed qualified local2010, at just over $330,000.contractors.The largest percentage of sales is in the $200,000 to many condo developments are going up in suburban$300,000 price range. You can also get a condo for less areas.getsmarteraboutmoney.cathan $200,000 in a recent month This site promotes unbiased,there were 260 sales in the $100,000 GTA Condo Apartment Market independent financial 2011 vs 2010 Median Prices information. It providesto $200,000 range. Steadyprograms and tools to helpemployment numbers and great310 2011consumers make better2010Median Prices ($ 000s)interest rates are keeping buyers financial and investment300busy; sales are up by about 23 perdecisions.cent compared to this time in 2010. 290canadianwellness.comMore listings are coming on the 280 A comprehensive directory ofmarket and it is expected that pricefitness, diet, health, nutrition270appreciation will slow in the comingand other wellness-relatedmonths. professionals and theirJan Feb MarAprMay June JulyAugSeptWith all the new condos being Source: TREBservices.built, one often wonders where theThese sites are believed to bereliable but their accuracy cannotpeople are going to come from to live in these units. The report says exactly how fast the transition be guaranteed.We know that first-time buyers and investors are from single-family homes to condos occurs will dependresponsible for buying many of the condos, and foreign on how long the baby boomers want to stay in theirMortgagesbuyers are also making their mark. But you may be current homes. Savvy builders and condo boards willsurprised to learn that the latest statistics show that 57 ensure their buildings have amenities that cater to these2011 RatesMortgage rates areper cent of condo owners were over the age of 50 and 17 older buyers. REU negotiable with individ-ual lenders. Check to besure that you are gettingtodays best possible rate. At October 5, 2011Mortgage Rates6-month . . . . . . . .4.45%1-year . . . . . . . . .3.09%2-year . . . . . . . . .3.25%3-year . . . . . . . . . 3.29%4-year . . . . . . . . .3.49%5-year . . . . . . . . .3.64%Prime rate . . . . . . .3.00% 4. Ice dammingGTA 11 totalsBe damned Sales activityof single-familyA s winter approaches, the temperature starts topotential indicators of ice damming. drop. And to the delight of skiers everywhere, Keep the house warm and the attic cool homes snow will soon be accumulating. Snow on yourMost recent month, How can you prevent this from happening year after year?year to datedriveway is seldom more than a pain in the back; however, The obvious solution to ice damming is to keep the roofActive listingssnow on your roof can lead to leakage, even if your roof is cold enough to prevent the snow from melting.September ..........18,808new. The culprit is ice damming, the insidious snow- Insulation: In a house with little insulation, heat loss willYTD ..........................N/Amelting phenomenon that is all too familiar to many of us. cause snow to melt. Luckily, upgrading insulation in atticsNew listingsWhat causes ice damming? and roof spaces is often easily done. Attic doors also needSeptember ..........14,727Heat loss from inside the house causes accumulated snow to be insulated and weather-stripped. Foam board and YTD....................120,465on the roof to melt in spots. Then the water runs down the foam weather-stripping work well.roof until it encounters an unheated area at the edge of theSalesroof. The snow there stops the water and it re-freezes.Heat registers: Ductwork that travels through an attic September ............7,658 must not melt snow on the roof. Attic ductwork should be YTD......................70,588After a while, a dam of ice forms on the roof above exteriorwalls. The dam causes water to form a small pool that canair-sealed and insulated. For air vents in ceilings, the joint Average priceback up under the edges of the shingles. Once under thebetween the ducting and the ceiling should be caulked. September.......$465,369shingles, the water can leak into the ceiling and walls,YTD ..................$464,024 Ceiling fixtures: Ceiling mounted electrical devices likecausing damage to structure and interior finishes. lights and bathroom fans should be sealed at their boxes.Median price Inspectors,appraisers, andotherbuilding Be careful with this. Some electrical devices, like pot lights,September.......$395,000professionals can often get clues from the house about its generate lots of heat and you dont want to cause a fire.YTD ..................$390,000ice dam history. Efflorescence on brickwork below theThis one is a job for a specialist.Average dayseaves, water stains on ceilings or around windows in The cost of taking these preventative measures eitheron marketrooms below valleys or other vulnerable areas, and yourself or hiring a professional is relatively small in September ................27condensation stains or mould in the attic are allcomparison to the potential water damage YTD............................25Relationshipsrepair costs, especially if the problem recurs Average percentageWhen you refer your friends and family, I understand or results in a decrease in property value due of list pricethat you are placing your relationships in my care.to obvious water damage. September ................99These relationships are important to me and I look forward Once the warm air is kept inside the rooms YTD............................99 to meeting the people youSource: TREB where it belongs, the existing level of atticJOHN HELFRICHsend my way. ventilation will often be sufficient to keep theBroker I will always provide Housing market attic and roof spaces cold enough to prevent the same kind of reliability, indicators friendly service andice dams. Single-family dwellings professionalism to themNewSource: TREB SalesListings as I give to you. The above article is reprinted with the permission of Carson, Dunlop & AssociatesSept 10 6,13812,899 Your referrals are most Ltd., Consulting Engineers Expert Home Sept 11 7,65814,727 Direct: welcome, and I thank youInspections. % Change 25% 14%416-464-8920 for them.The intent of this newsletter is to inform you regarding real estate. Your personal details such as name and address are never shared without your consent. In accordance with the new PrivacyAct, your consent must be given (either explicitly or implicitly) to receive the newsletter. If you do not wish to receive this newsletter, please notify me. This publication is not intended tosolicit buyers or sellers currently under contract with a brokerage. The information and opinions contained in this newsletter are obtained from various sourcesbelieved to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors or omissions or for damages resulting from using the publishedinformation and opinions. This newsletter is provided with the understanding that it does not render legal, accounting or other professional advice. Whole or partial reproduction isforbidden without written permission from the publisher. Clear Communications 416-422-5754.
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