If the last year has taught us anything, it’s the 𝘪𝘮𝘱𝘰𝘳𝘵𝘢𝘯𝘤𝘦 𝘰𝘧 𝘱𝘦𝘳𝘴𝘰𝘯𝘢𝘭 𝘤𝘰𝘯𝘯𝘦𝘤𝘵𝘪𝘰𝘯. With so many meetings, gatherings and even family holidays turned into virtual events, we’ve missed out on the sights, the smells, the noise, and the handshakes and hugs. We’ve missed out on these experiences. Technology just can’t replace personal connection.

Similarly, in real estate, so much about a home has to do with the “experience.” The views, the impact of noise from a busy road, the neighbourhood, the smells – all have an effect on the way a house feels. This just doesn’t translate into data and algorithms. 𝗢𝗻𝗹𝗶𝗻𝗲 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝘃𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻𝘀 𝗰𝗮𝗻 𝗲𝗮𝘀𝗶𝗹𝘆 𝗯𝗲 𝘂𝗽 𝘁𝗼 𝟭𝟬% 𝗼𝗳𝗳, 𝗮𝗻𝗱 𝘀𝗼𝗺𝗲𝘁𝗶𝗺𝗲𝘀 𝗺𝗼𝗿𝗲! which could cost you a lot of money should you decide to work off of the estimate provided.

For accurate information, you need an in-person valuation with someone who knows the local market. You need someone who will actually walk through your home with you, and take the time to understand what you love about your home, updates that you have done over the years, how your home compares to other recently sold homes in your area as well as other details that make it a wonderful place to live. Although technology has taken off over the last decade with video and 3D virtual tours, there is still no better way to get the true feeling of a home without seeing, smelling, and touching it in person. If you’re wondering what your home may be worth in today’s market, don’t hesitate to reach out, even if you are just thinking about making a move. I would love to give you all of the information you need to help you make an educated and smart decision that will help you get top dollar when you decide to sell.



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Upper Beaches Real Estate

Also known as “off-market” listings, these homes may be for sale but are not listed on the multiple listing services (MLS) or REALTOR.ca. Yes, you read that correctly, the MLS does not account for every property on the market.

Off-market property sales happen more frequently than many people realize. Sellers most commonly choose to list off-market for privacy reasons, or because they want to test their home on the market without any history showing up on MLS should they not sell for the amount they are hoping for. The last thing you want as a seller is for there to be a history of your home not successfully selling as this will give buyers the impression that you are either an unrealistic seller or that there is something wrong with your home which will negatively effect your ability to get top dollar. In this case you could find yourself fighting an uphill battle with not many options other than to accept an offer that is substantially less than you may have obtained had you taken a different listing approach in the first place.

Real estate agents who sell off-market listings must do the legwork and get the word out to find buyers on their own, typically through their network of clientele and other real estate agents as well as making use of other marketing methods that don’t leave behind a long-lasting history of your property being listed.

If you are considering listing your property off market, make sure you discuss with your agent the different marketing methods they will make use of in order to ensure your off-market listing receives maximum exposure. Some of these methods may include various forms of print marketing, open houses, signage and other methods that don’t leave a long lasting history online.

As previously mentioned, many off-market listings are listed in this manner for privacy reasons which is why it is a common listing method for high end homes in neighbourhoods such as the Bridle Path, Rosedale, Forest Hill, Hoggs Hollow etc.

If you are currently house hunting for a new home or plan on doing so in the near future, you may want to ask your agent if they are aware of anoff-market listings that may meet your criteria. You could be missing out on your dream home by not doing so.

The Beaches Real Estate

Are you planning on making a move now or in the near future and have questions about the selling and buying process or the market in general?

Send me a message, I’m happy to answer all of your questions for you.

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7 Steps to buying a house in Toronto

Have you been thinking about possibly buying a home in Toronto and aren’t quite sure what the process looks like?

The thought of buying a home can be daunting and sometimes scary when you don’t know what to expect. With very little supply and currently record low inventory of available properties in Toronto, it may seem that you have zero chance of successfully securing a home. The good news is that many homebuyers are securing themselves a home even in our current competitive market.

Buying a home in Toronto

How are they managing to do this? Based on my experience as a full time Toronto real estate agent, I can pretty much guarantee that these successful buyers have had all of their ducks in a row and were properly prepared to submit a strong offer at any moment. Like most things in life, the more prepared you are, the better the chance of you successfully achieving your objective.

Buying a home in Toronto

In order to help you understand the buying process, I have included 7 steps to buying a Toronto home below.


STEP 1 (Determine Your Downpayment)

$500K purchase or Less

5% for purchase of $500K or less

$500K – $1M purchase 

5% of the first $500,000 of the purchase price

10% for the portion of the purchase price over $500,000

$1M or higher

20% of the purchase price


STEP 2 (Get Pre-Approved)

Speak with your lender to find out what amount, rate and term you can be approved for. Never submit an offer on a property before knowing your numbers and your limits.


STEP 3 (Interview Toronto Real Estate Agents)

What To Look For In An Agent:

  • They are a full time agent
  • There are no bad reports on RECO’s site about them
  • They have good reviews
  • They know your neighbourhoods of interest well
  • They are readily available to answer your questions and concerns at any time


STEP 4 (Start House Hunting!)

Some Things To Consider During Your Search:

  • See if there is a pre-listing home inspection and property survey available to review 
  • Review the status certificate if available (condos)
  • Look at recent comparable sales with your agent to determine what is a reasonable sale price
  • Determine if there is an offer date
  • Ensure your deposit is accessible


STEP 5 (Submit & Negotiate an Offer)

Discuss the recently sold comparable properties in the area with your agent and determine what the best initial offer price is. If there is an offer date, it is likely that there will be other offers so you should know your maximum limit before submitting an offer. Your agent will put together your offer according to the total number of offers. Make sure your deposit is available in case your offer wins.


STEP 6 (Schedule Home Inspection)

This could potentially save you money and headaches.

If there isn’t a pre-listing home inspection available, it is always a good idea to arrange to have your own home inspection completed. When not competing against other offers, you have a better chance of having an offer conditional on a home inspection accepted. Discuss this with your agent before submitting your offer.


STEP 7 (Closing Day!)

Once the lawyers have completed the closing and the funds have been transferred, the keys to your new home will be provided to you and it will be time to celebrate.

Congratulations, you are now a new home owner!


Are you thinking about buying a home and have questions about the process or the market?

Contact me any time with any questions or concerns you may have. I’m happy to answer all of your questions or concerns for you.

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The Beaches Real Estate

It’s now the time of year when we can enjoy warm cozy fires while we escape the cooling outdoor temperatures on a brisk autumn evening. You know, one of those nights that you pour yourself a drink, sit back and watch a movie or the Leafs as the fire crackles.

The Beaches Real Estate

Many of the homes in Toronto were built approximately 100 years ago and in some cases before that time. A large number of these older homes in Toronto include wood burning fireplaces, I see them on a daily basis while showing homes throughout the city to my buyer clients.

One important thing to consider when viewing homes which have wood burning fireplaces is whether or not the fireplace and chimney are in good working order and are safe to use. Many of the fireplaces that you see during showings look inviting and you likely take a moment during your showing to visualize yourself sitting back with your feet up enjoying a nice warm fire on a cold Toronto evening once you’ve moved in. However, the reality is that many of these charming old wood burning fireplaces are not in good working order and could pose a threat to the safety and health of you and your family. The last thing you want is to start your first fire in your new home to have a back draft of smoke blowing into your home or even worse, a chimney fire due to build up of creosote over the years.

The Beaches Real Estate

When considering the purchase of a home with any type of fireplace, ask the sellers and their agent the following questions:

Is the fireplace and chimney functional and in good working order?

When was the fireplace and chimney last cleaned?

Are you able to provide a copy of the receipt for the most recent chimney cleaning?

When was the fireplace and chimney last inspected by a WETT certified inspector and do you have a copy of the inspection?

When possible, have a home inspection completed, including an inspection of the fireplace and interior and exterior of the chimney completed by a WETT certified inspector prior to submitting an offer. You may want to ask your agent about including a representation and warranty clause in your offer which essentially requires the seller to provide a declaration that the fireplace and chimney are in good working order. Including such a clause will support your cause at a later date should the seller provide a misrepresentation about the fireplace and chimney to you during the buying process and you then find out that the fireplace and chimney are not in good working order on closing.

The Beaches Real Estate

By asking questions and having the proper inspections completed, you can avoid headaches and unwanted expensive repairs associated with fixing a fireplace and chimney that are not in good working order.

Are you thinking about making a move or do you have questions about the Toronto real estate market?

Contact me any time with any questions you may have. I am always here to help and to answer your questions.

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Toronto Real Estate

In the September Market Report, five themes that were driving the Toronto and area marketplace were identified. These themes have become prominent during the course of 2021 and it is becoming evident that they will be the key features of the residential resale market for the remainder of 2021 and into the early months of 2022. These themes, with slight variation, were prominent in the October market data.


Prior to October, it appeared that the average sale price for all properties sold had plateaued around $1.1 Million, including condominium apartments. In October the average sale price popped up to $1,155,345 (also including condominium apartments), into record territory, and substantially higher than the $968,535 achieved last year, a 19.3 percent increase year-over-year. What drove this unexpected increase? Another key theme, the tension between market demand and supply.


The demand-supply problem moved beyond critical into a danger zone in October. In October 11,740 properties came to market. That was 34 percent fewer than the 17,806 that came to market last year. Couple that with the 9,783 properties that were reported sold in October, by month-end there were only 7,750 properties in the entire greater Toronto area for sale. Compare that to the 17,313 that were available last year, and it becomes abundantly clear that we are in a dangerously imbalanced zone.

This imbalance will become even clearer when we discuss what’s happening to sale prices as compared to asking prices. With so little supply, and record levels of demand, the problem of lack of supply and affordability becomes acute. Multiple offers are the norm, no longer the exception, and based on the average sale price for October of $1,155,345, buyers competing for the limited number of properties on the market are driving Toronto and area into one of the most expensive cities on the globe.


As 2021 winds down to a close, the disparity between the City of Toronto and the 905 region has been dissipating. Beginning in the late spring of 2020, during the height of the pandemic, more and more buyers have been flocking to the 905 region (and to many secondary markets throughout southern Ontario). As 2021 has unfolded, prices in the 905 region have increased dramatically, proportionally faster than those in the City of Toronto, and more recently, the availability of properties for sale has declined to the point where there are now more properties for sale in the City of Toronto than in all the 905 region.

At the end of October, as mentioned above, there were only 7,750 properties available for sale in the entire Toronto and area region. A closer look indicates that 4,247, or almost 55 percent of those properties were in the City of Toronto. That leaves only 3,503 available properties for sale from Burlington to the west, to Innisfil in the north and to Clarington in the east. This is a vast region. The lack of supply in the 905 region is a product of the pandemic, and buyers’ need and desire to have more space, safety and to satisfy their need for security. The ability to work remotely has fuelled and enabled this diaspora, but now the 905 region is without supply and with startlingly higher average sale prices.

At this pace the difference in price, for all housing types, will evaporate. It’s particularly interesting to note the dramatic increase in suburban condominium apartment prices.  *October year-over-year increases.


In October every trading area saw sale prices come in substantially higher than list prices. For the entire greater Toronto area the average sale prices was 107 percent of the asking prices. This includes all reported sales in Halton, Peel, York, Durham, Dufferin, and Simcoe Counties. Effectively the asking price is a point of commencement, and that’s all. Scarcity, location, demand, and auction style sales, will determine the end price. In various locations the percentage of sale price over ask was even higher. For example, all semi-detached properties in Toronto’s eastern trading areas sold for 115 percent of asking price and in an eye- popping 7 days!

It is not surprising that entering the month of November there were fewer active listings of every type of property, except condominium apartments, than were sold in October. In some trading areas the situation is dire. In the greater Toronto area 878 semi-detached properties were reported sold in October. November begins with only 347 available semi-detached listings. Not much choice for buyers, putting further pressure on both availability and affordability.


Condominium apartment sales continued their resurgence in October. In the City of Toronto, sales were up by almost 34 percent compared to a year ago. Similarly in the 905 condominium apartment sales were up by almost 21 percent to 986 units. Prices followed the rise in sales, increasing by almost 11 percent in the City of Toronto and by 17 percent in the 905 region. Clearly, buyers have overcome their weariness of living in high-rise towers in more dense conditions, or this simply may be due to the fact that compared to ground level opportunities, condominium apartments remain the most affordable housing type and choice.

Like all other housing types, the supply of condominium apartments is declining. At the end of September, there were 3,882 active condominium listings in the greater Toronto area, and 2,918 in the City of Toronto. At the end of October the supply of condominium apartments throughout the entire region had declined by more than 11 percent to 3,440, and by 7.5 percent to only 2,700 in the City of Toronto. The last bastion of affordability and supply is quickly disappearing.

These five themes will sum up the Toronto and area marketplace for months to come. The now more real, looming threat of mortgage interest rates may cause a disruption to these themes. Based on the Bank of Canada’s recent pronouncements we may see rate hikes within the next few months. Rate hikes will have no positive impact on supply, although they will no doubt curb the rising prices that we witnessed in October.

Prepared by Chris Kapches, LLB, President and CEO, Broker, Chestnut Park® Real Estate Limited, Brokerage.

Have questions about the market, selling or buying?

Contact me any time. I’m happy to answer any questions you may have.

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