humber bay shore: Is the CONDO too small already? - 05/11/12 03:19 AM
Is your place just too small? Maybe you bought pre construction. The location may have been suitable to you four years ago when you started working there. Maybe you bought with a certain family size in mind.  Now you have plain outgrown it. I can do three things for you. I can help you release the equity you have in that beautiful loft or one bedroom plus den. I can help you find a more suitable property for you. I can help you with Bridge Financing to make sure you have the money going forward and that you don't have any problems with the … (1 comments)

humber bay shore: Yes you can raise the Rent! - 05/10/12 01:34 AM
Are you an investor? Do you want to Buy and Rent Condo Units in Toronto? Then you should be aware of a few things.   We have something here called the Landlord Tenant Tribunal.
Ontario’s annual Rent Increase Guideline is based on the Ontario Consumer Price Index (CPI), which is a measure of inflation calculated monthly by Statistics Canada.  The rate of allowable rent increases for 2012 will be 3.1 per cent.The guideline is the maximum amount that most landlords can increase a tenant’s rent during the year without making an application to the Landlord and Tenant Board.  It is based … (0 comments)

humber bay shore: Can you hang a Mezuzah on your Condo Door Frame? - 05/03/12 12:17 AM
There is a debate about whether you can install a Mezuzah on your door frame in a Condominium Building where you reside.  Does the same apply in Toronto as we become the condo capital of North America?  A debate has erupted lately in Stratford, ON, about a tenant claiming religious persecution over their right to install a religious icon on their door frame. This video from the local News station is furthering the debate. The door frame is clearly a Common Element of the building and NOT YOUR PROPERTY as described by the Condominium Act.   You own the INSIDE of … (4 comments)

humber bay shore: Did you claim an HST rebate on your Condo Purchase? - 04/28/12 08:22 AM
Yes,  the real estate condo market is HOT! Yes, You can flip your unit for immediate profit! Yes, You can rent your unit! Yes, Revenue Canada;  affectionately referred to as CRA  is made aware of the transaction. HOW you ask?   You pay Land Transfer Tax on your purchase; Tarion Warranties apply.  Even in a Flip there are disclosures. You can sell your unit and claim the [HST] tax on closing or if you rent your unit and provide a copy of the lease; preferably you will pay the tax and request a rebate a year later.  Personally, people try to slip … (1 comments)

humber bay shore: Condo is the Choice for Toronto Living - 04/24/12 11:55 AM
Recent survey by the TD Bank released Spring 2012 talks about the preferences that Toronto Condo Consumers have about condos vs single family homes.  Condos are less upkeep, more affordable and offer amenities.  This plus the proximity to public transit in the City (and PATH) could keep you indoors if you prefer.  The largest concern is Condominium Maintenance Fees. "The possibility of a fee increase can be a little unnerving," says Haque. "While there's no way to 'lock-in' to a monthly fee like you can with a mortgage, you can prepare for a fee increase by building a buffer into your monthly housing budget, … (1 comments)

humber bay shore: How you can avoid Buyer's Disappointments - 04/21/12 07:08 AM
With so much information available online IF a buyer takes a moment to inform themselves or Let's ask a few First Time Buyer Questions; Are you prequalified for a Mortgage   How much can we spend? Have you investigated a Home Inspector or will Uncle Bob suffice Do you have a lawyer to close your transaction? Have you selected a professional REALTOR who can answer your questions and guide you through all the steps in your transaction Yes. Buyers Agency Is Required Who is Responsible?   I am  There is no side step, no shuffle, no bouncing; No Mississippi Two Step; … (4 comments)

humber bay shore: Mere Listings Toronto MLS - 04/06/12 10:52 PM
How would you answer this question? 
Subject: MERE FSBO listing 
I have a commercial/retail/industrial property that I would like listed on the MLS and was wondering how much you charge to do that?
 
I said ---Depending on location, sale ability and pricing  I would be pleased to list the unit for you. Commissions are negotiable and competitive at 1.5 % to list, Commission to Selling broker is at 2.5% as a norm.
 
Today this response:
I am not looking for an agent to represent my property.  I am looking for a broker that will give me a MERE FSBO … (2 comments)

humber bay shore: New and Improved Toronto Islands - Sunnyside at Humber Bay - 04/04/12 12:40 AM
What a fabulous addition to the Toronto Humber Bay Shoreline! All the condos along Lake Shore Blvd ( Marine Parade ) will now have additional man made islands at the mouth of the Humber River Bridge towards Sunnyside! * View Larger Map The string of islands would go in at the mouth of the Humber River and extend about one kilometre from shore. The plan would take clean fill from construction jobs to build a solid earth barrier underwater that would deflect polluted Humber River water out into the lake and away from Sunnyside Beach.Above the water, the feature would look … (0 comments)

humber bay shore: Does HST Apply To A Seller Of A Condo Flip (Assignment)? - 03/28/12 11:35 PM
Inevitably, an offer to purchase an assignment property (often on an OREA form 140 or 141) by a buyer's sales representative will state that, if applicable, HST is included in the purchase price (as we typically see in any offer to buy resale residential properties).  The sales representative who represents a seller of an assignment (and who is advising the seller) MUST be aware that according to the Canada Revenue Agency, there are sometimes situations where HST will, in fact, be applicable and payable by the assignor/seller who is assigning a contract to buy a newly constructed unit/residence.
When applicable, HST will … (0 comments)

humber bay shore: How are Toronto condo Fees Calculated? - 03/25/12 11:23 PM
Q I do agree regarding the 20% of fee to be put into reserve fun, however, as a past condo owner, my question is where does the rest of money go? Our condo, new, started with $650.00 mon. fee and by third year was over $850.00, for 1100 sq. ft. No concierge full time, a party room you wouldn't want to place your pet in, small workout room topped with an obnoxious, bully of a pres. of the board. Boutique condos such as the one we owned are nice, but costly on the fees.
 
A Condo buildings are like a small business … (0 comments)

humber bay shore: Increase Reserve Fund Minimums to 20% Toronto Condos - 03/25/12 01:09 AM
Condo Boards try to keep maintenance fees the lowest possible to spend the least amount of money. Unfortunately although well meaning it is misguided when 8 - 12 or 15 years later money is required and the Reserve Fund is in adequate. This results in borrowing additional money for specific repairs (requires a vote by a majority of owners) or a Special Assessment. Lawyer Derrick Fulton, an expert in condo law, said one major problem area is the Act’s requirement on reserve funds; currently, 10% of common element fees must go into a reserve, but he believes that number should be … (1 comments)

humber bay shore: Lets compare Condo Maintenance Fees Toronto - 02/07/12 04:33 AM
Lets have a look at and compare what makes the maintenance fees in your building. First Lets establish a few things, Your furnace unit consumes electricity; usually through a heat exchange unit in a central part of the condo or maybe you are blessed with two. The heat exchange units take warmth (hot water heated from a boiler) from the coil and disperse it into your unit. The cost of operating the fan blower is yours, the costs of heating the water as to your maintenance fees. The unit is inside your unit and operates from the Common Expenses. The liability … (0 comments)

humber bay shore: Park Lake Residence - Experience Canada Day - 07/02/11 01:59 PM
What better way to Celebrate the 144th Canada Day than with the residents of our own Park Lake Condominium Community along Lake Shore Blvd., W in Toronto. A well attended event that have a new community joined to greet and enjoy a Canadian summer on the Toronto Waterfront. The fifth floor has a natural open air terrace that opens out onto the Lake Shore between Windermere and Ellis Avenue. Each tower has complete access to this terrace and made for an excellent opportunity to watch the Toronto firework display over Ontario Place later in the evening. Additional Pictures of the events … (2 comments)

humber bay shore: How to handle a Multiple Offer - 06/29/11 02:38 PM
This is an interesting topic from Mark Weisleder on Bidding up offers and multiple offer protocol. Simply put the ethics and logistics of how and why one offer is selected over another.
http://www.moneyville.ca/article/1013066--caught-in-a-bidding-war-know-the-rules Most sellers will instruct their agent to tell this anxious buyer to wait until the proper time period. However, if the seller wants to consider the offer, their agent will then change the information on the MLS listing immediately to notify every other agent that the rules have changed, and that offers can be submitted that evening. The agent will also likely call every other agent who … (1 comments)

humber bay shore: What is a Status Certificate? - 06/29/11 02:37 PM
Hello, David Pylyp with Re/Max, Its a beautiful day on the waterfront in Toronto at Humber Bay Shore, Down by Palace Place and Palace Pier. I'd like to talk to you about buying a condominium and actually obtaining a Status Certificate.So the question becomes; What is a Status Certificate?

If you bought a used car, you would find yourself asking for the safety certificate. Well, that's exactly what a status certificate is. Its a snap shot of the financial picture of your condominium unit and your building as at a particular date. This is usually provided to you by … (0 comments)

humber bay shore: You could be home already ... If you lived here... - 06/24/11 05:57 AM
Have you noticed that the traffic is backed up in both directions every morning. You could be home already if you lived along this strip You keep passing this high density Hi Rise cluster that encompasses Humber Bay Shore and starts with Park Lake Residence on the south and the Windermere by the Lake and NXT on the north. Which are the most noticeable? Of course the Twin sisters and Toronto Landmarks that are the Palace Place and Palace Pier towers along the banks of the Humber River. Living here along the Lake does have benefits; access to public transit, local … (0 comments)

humber bay shore: The call of the Drums on Lake Shore Toronto - 04/30/11 01:07 PM
The sounds of the live congo beat could be heard across the Lake Shore at Ellis avenue. We ventured out with the dog along the Martin Goodman Trail. The cyclists were out! A few on roller blades, best of all the kids - were all over the gym equipment at the parkette on the Lake Shore. There was a splash pad planned here. I'll ask... People smiled at each other and nodded Hello as we passed, enjoying a warm day to promenade along the walking path from the Humber Bridge to the Sunny Side Pavillion. The Humber Bay Shore Community is … (1 comments)

humber bay shore: Embracing your Opportunity in Toronto - 04/26/11 06:41 AM
I realized almost a decade ago that computerization in the Real Estate industry would always be cutting edge since we are perceived as market and marketing specialists. I found this post from Seth Godin that speaks to the need to find our own Value Proposition in our marketplace and that we really need to really shine. The opportunity is hereAt the same time that our economic engines are faltering, something else is happening. Like all revolutions, it happens in fits and starts, without perfection, but it's clearly happening.
The mass market is being replaced by multiple micro markets and the long tail … (0 comments)

humber bay shore: Will you Buy or Continue to rent? - 01/24/11 01:57 AM
Will you rent or will you buy? Interest rates on savings at your Bank? 1 - 1.5% annually Average rental on a two bedroom with den Two full bath? $1,800 With the interest rates hovering around 3.89 - 4.09 % five year fixed; yes we would all like to have the variable at 2.35% .
Expected rate of annual value increase? I would use 4%
Try it and tell me. How did your model work?
Lets get you started. … (0 comments)

humber bay shore: Park Lake Residence Pictures and Floorplans - 01/21/11 12:42 PM
Park Lake Residence  Just registered 2011  
1900 1910 Lake Shore Blvd., W, at Ellis Ave
Phase One West Tower  1910 Lake Shore
  18 floors 133 suites   Phase Two East Tower  1900 Lake Shore   19 floors 146 suites   Twin Towers with a individual recreation centers, share a fifth floor terrace that overlooks the magnificence of High Park and all the seasonal colours, and an unbridled views of Lake Ontario and Lake Shore Blvd., between, including entry foyer. Located as the last building site possible along Lake Shore Blvd., at Ellis Avenue with an unobstructed view for the … (0 comments)

 
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David Pylyp

Toronto, ON

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