Weekend GoTrain Service to Newmarket/Aurora!

If you didn't know, it is now possible to catch the GoTrain to and From Toronto in Newmarket/Aurora on weekends and Holidays.
Between June 23, 2012 and September 3, 2012, GoTransit (Government of Ontario Transit) is doing a pilot GoTrain schedule along the Barrie line.
My guess is that they will continue if they see the usage, but it appears to be here just for the Summer (for now).

Here is some details on the Service:

It appears that there will be 2 trains that will do the entire route from Barrie to Toronto and run up and down all day, 6 times. However, will only run all the way to Barrie twice, stopping and turning around at the East Gwillimbury Station on Green Lane 4 of the 6 times.

This train line services: Allandale go Station (Barrie) -> Barrie South Go station -> Bradford Go Station -> East Gwillimbury (EG) Go Station -> Newmarket GoTrain Station -> Aurora Go Station -> King City Go Station -> Maple Go Station -> Rutherford Go Station -> York University Go Station -> Union Station (Toronto)

South Bound Service:

10:20am departure - Barrie (Allandale Go Station) -> Toronto (union Station) - 11:58am arrival

1:20pm departure - EG Station (Green Lane/Main St North) -> Toronto - 2:21pm arrival

4:12pm departure - EG Station -> Toronto - 5:13pm Arrival

5:00pm departure - Barrie Allandale Station -> Toronto - 6:38pm arrival

8:00pm departure - EG Station -> Toronto - 9:01pm Arrival

10:22pm departure - EG Station -> Toronto - 11:56pm arrival

Northbound Service

12:10pm departure - Toronto (Union) -> EG Station - 1:09pm arrival

3:01pm departure - Toronto -> EG Station - 4pm arrival

5:25pm departure - Toronto -> Barrie Allandale Station - 7:02pm arrival

6:50pm departure - Toronto -> EG Station - 7:49pm arrival

9:41pm departure - Toronto -> EG Station - 10:40pm arrival

12:10am departure - Toronto -> Barrie Allandale Station - 1:45am arrival

to view the complete schedule, click on the following link:
http://www.gotransit.com/publicroot/en/PDF/Timetables/CurrentBoard/Table65.pdf

Newmarket Southbound trains (GoTrain station @ Davis Drive/Superior [Tannery Mall]):

11:00am; 1:23pm; 4:15pm; 5:40pm; 8:03pm; 10:58pm

Aurora Southbound Trains (Aurora GoTrain Station on Wellington):

11:06am; 1:29pm; 4:21pm; 5:46pm; 8:09pm; 11:04pm

I'll be sure to follow how well this pilot program goes as I believe better train service to Newmarket/Aurora will be well used in the coming years.
Lets see a few more trains during the work week too!

Increasing your payment by a small amount can yield huge savings.

As you know, you're paying interest every day you have a mortgage. So the sooner you reduce the amount you owe, the less interest you pay. One relatively painless way to do this is by increasing your payment by a small amount. Then all you have to do is sit back and let time work it's magic—before you know it, you'll have chipped thousands of dollars off your mortgage! 

Let's say you have a $200,000 mortgage at 4.5% with a 30 year amortization, and you're in year 3. If you increase your monthly payment by $100—roughly the cost of one premium coffee per day—that reduces your amortization by 51 months and saves you $24,622 in interest over the life of the mortgage! Now, I'm not suggesting you give up all of life's pleasures to pay off your mortgage faster. But it's obvious that doing something small can make a BIG difference. 


Information is compliments of:
Mike Havery AMP, Mortgage Planner
http://www.themortgagearchitect.ca/

Demand for Luxury homes on the rise across Canada

Sales of luxury homes have started out at a record-setting pace for 2012, up almost 50 per cent over the first quarter of last year, according to a new ReMax report.
While the luxury market only accounts for about 2 per cent of the total GTA housing market, the unexpectedly strong demand, coupled with a
“severe shortage” of prime properties in higher-end neighbourhoods, is only further fuelling bidding wars and price escalations, it says.
That, in turn, is driving more properties into the “luxury” price range. Even suburban communities such as Vaughan, Markham and Richmond Hill have seen a 54 per cent jump in demand for $1.5 million-plus homes in the first quarter of 2012 over 2011.
But that translates into just 54 luxury homes changing hands in those communities, it’s important to note, up from 35 sales in the first quarter of last year.
The annual report, Upper-End Market Trends 2012, examines prices and trends across Canada, prime neighbourhood by prime neighbourhood.
Luxury sales records were set in 10 of the 16 urban markets the report tracks, although the definition of luxury can vary from $500,000 (in mid-sized markets such as Regina and Halifax) up to $2 million (Greater Vancouver.)
Some 412 homes sold for over $1.5 million from January to the end of March across the GTA, up from 277 during the same time last year, the report says.
While high-end demand in Toronto was hot — especially in neighbourhoods within walking distance of transit — things have cooled in Vancouver where last year a frenzy of foreign buyers not only drove up sales numbers, but skewed average house prices upward right across the country before the buying frenzy eased later in 2011.
Low interest rates, improving consumer confidence and “tremendous confidence in the city’s residential housing market” in the face of stock market and global economic turmoil, are all being cited as factors. But, even then, the sales figures came as a surprise, says Michael Polzler, executive vice president for ReMax Ontario-Atlantic Canada.
“We didn’t expect (luxury sales) to be up nearly this much. This is significant.
“I think there is a lot of momentum out there in the market and people want to buy. If anything, in many cases, there is a shortage of product.”
That shortage is being felt even in the condo sector, Polzler said.
Seven per cent of luxury sales were condos in Toronto’s pricey core, the report notes, most of them in Yorkville.
The highest-priced condo sold in Toronto so far this year went for $5.3 million — a far cry from the record $28 million spent by an international buyer last year for a penthouse, due to be completed this summer, in the new Four Seasons Private Residences and hotel towers.
Regina, where luxury comes in at $500,000 or more, saw the biggest increase in luxury sales this year, up 56 per cent over the first quarter of 2011.
More: New home prices continue to rise
More: Things to watch for when flipping a condo
]]> http://www.moneyville.ca/article/1179107--demand-for-high-priced-homes-up-across-canada http://www.moneyville.ca/article/1179107 Thu, 17 May 2012 11:38:00 -0400

How to Avoid renting to a Problem Tenant!

http://www.moneyville.ca (C) 2009 thestar.com All rights Reserved. en-us [moneyville logo] http://www.moneyville.ca
A recent Toronto Star story exposed a problem tenant successful in abusing the Ontario landlord and tenant process to avoid paying rent. It can take landlords up to nine months to evict these types of ‘professional’ tenants.
However, it would be wrong to paint all tenants with the same brush. Over 95 per cent of Ontario tenants pay their rent on time and take care of their rental units. For every problem tenant, there are also problem landlords who do not properly maintain their buildings.
Here is how landlords and tenants can avoid problems:
Qualify your tenant in advance
When you advertise for a tenant, make it clear that you will be doing a credit check and checking personal references. This will assist in discouraging potential scammers.
Related: Why month to month may be better than a lease
Ask for a pay stub or banking information. Make sure that the proposed tenant makes regular deposits into their bank account, to prove steady employment.
Call references to make sure they check out
Google the tenant’s name to see if their social media information is the same as that on your rental application
Make sure the address on their driver’s license matches where they say they live now.
Join a service such as tenantverification.com to check a tenant’s credit
Have the tenant pay for utilities, if separately metered. They will have to pass the credit check of the utility company as well.
Treat tenants with respect
Successful investors understand that tenants are your silent partners. They are a source of income and are looking after your investment. When you treat them with respect, and show appreciation, they will also take better care of your building.

Something as simple as agift card can go a long way. When the tenants leave, if they have been a model tenant, why not award them with a certificate of superior tenancy, to show your appreciation. This might help them find another unit, especially if they have other credit problems.
Related: When can you evict a tenant for a family member?
If things go wrong, it is better to make a deal
Sometimes bad things happen. A tenant loses their job and even though they would like to pay the rent, they can’t. Instead of rushing to the landlord and tenant board, which takes time and results in hard feelings, try to work it out.

Perhaps offer to help the tenant move back with relatives and forgive part or all of the back rent owed, in exchange for the tenant leaving early. Let the tenant know that if they agree, you will also not notify the credit bureau about this and ruin their credit rating.

The landlord can then write off the amount owing and find another tenant to take over the unit. Also, when a deal is made, the tenant is likely not to damage the unit when they leave, which is what usually happens when things end badly.
Tenants, also show appreciation to those landlords who do properly look after your buildings. Don’t change the locks without permission, or permit visitors to damage anything on the property.
When landlords and tenants work together, everyone wins.
Mark Weisleder is a Toronto real estate lawyer. Contact Mark at mark@markweisleder.com
]]> http://www.moneyville.ca/article/1179318--how-to-avoid-renting-to-a-tenant-from-hell http://www.moneyville.ca/article/1179318 Fri, 18 May 2012 18:00:00 -0400

YorkRegion Article: Newmarket condo shorter, same amount of units

YorkRegion Article: Newmarket condo shorter, same amount of units

Closing on June 29??? Might want to try another date

I got this email today and wanted to share it with everyone!

REALTOR WARNING RE: CLOSINGS ON JUNE 29, 2012
All realtors are aware that the end of June (after schools close for the summer) is the busiest closing time of the year.

Typically, at a month’s end, real estate closings are spread between the last FRIDAY of a month and the last business day of a month PLUS the first business day of the following month. In 2012, at the end of June, the last FRIDAY is the SAME day (June 29) as the last business day of the month being before a long weekend. Therefore, few buyers and sellers closing in the end of June will want a month’s end closing day to be prior to June 29 or after the long weekend (Monday, July 3 will be the holiday and the land registry system will be closed).

THE PROBLEM is that with most buyers and sellers wanting to close at end of June on one day, FRIDAY, June 29, 2012 (being the last business day of June and being the last FRIDAY before a long weekend), the possibility of many closing failing to occur on such a date increases due to delays in getting mortgage advances for buyers which will have a chain reaction causing delays to other closings. Inevitably, many closings will occur very late in the day on June 29, if they do close.

•          If people are trying to move using elevators in condo buildings (or moving out of a rental unit)...
GOOD LUCK!
•          Moving vans will all be fully booked... WATCH OUT!
•          Mortgage lenders will NOT be able to process mortgage advances adequately due to the heavy month’s end volume.
•          Lawyers will be scrambling for late deliveries of closing packages to get deals closed and roads will be clogged (delaying deliveries of closing packages) as people try to escape the big city for the long weekend after school is out.
SUGGESTION:         Recommend to your buyers and sellers NOT to select June 29, 2012 as the closing date.
Selecting any other date would be much more reliable as a closing day.


My website www.home-legal-cost.com allows anyone to print out legal fees and disbursements by clicking on QUOTATION for any purchase or sale price under $1.5 million. See our 8 Toronto area law office locations specializing in residential real estate closings at www.home-legal-cost.com. For questions, call me to 11pm 7 days at (416) 520-6120.
Regards,


STEPHEN SHUB


Stephen H. Shub Professional Corporation
Barrister, Solicitor, Notary

8 Toronto Area Law Offices with
34 staff serving you in many languages
www.home-legal-cost.com
Cell 416-520-6120
(to 11pm 7 days)

Aurora/Richmond Hill Stats (3/31/2012 - 4/06/2012)

To show why Newmarket's market seems to be so hot, we need to look to the south to see whats been going on there.

Aurora:

Average Sale Price: $530,483
Avg. % of List: 102.11%
# of sales: 18
Avg. Day's on Market (DOM): 18

Richmond Hill:

Average Sale Price: $724,484

Avg. % of List: 101.96%
# of sales: 68
Avg. Day's on Market (DOM): 11

As you can see, the markets to the South make Newmarket look affordable for most, which is why we are seeing many of the buyers coming from the south and driving up the prices.
I have said it before, and Ill say it again, I do not forsee a dramatic crash in the market, simply due to the population growth and the demand for housing. Restrictions, such as Oak Ridges Moraine and the Ontario Greenbelt has meant that Urban Sprawl is coming to an end and intensification and infill development is the next move.

* All data from the Toronto Real estate Board