The Bower Blog

Harbourfront-What a Beautiful Place we live in!

This past weekend, we decided on a whim to toddle down to Harbourfront (www.HarbourfrontCentre.com) and have a bite to eat.  You see, there is a place called "World Food" and it's like an open air food court.  Latin America, Carribbean, Eastern European, South-East Asia, to name a few.  There are so many choices, you could eat in a different land about 10 times!  And then of course, there is ONE LOVE CORN...a place where you can buy a cob fresh off the grill or for the more elite, corn soup.  Lovely...corn's not quite there yet, of course, but they were lined up for it.

There is nothing more beautiful than this area in the summer; a marketplace of vendors selling their wares.  I bought knitted finger puppets as a homewarming for my small person friend, Scotty.  I picture him "talking to the hand" for hours on end.  Love Scotty.  The day was perfect; we decided to take a boat cruise around the Toronto Islands.  Touristy yes; breathtaking...also yes, even for this native Torontonian.  And you learn stuff about our city.  Did you know the Redpath Sugar Factory is green?  They pride themselves on being totally non-polluting and they are right on the water.  There are 14 grams of pure gold in each window of the Royal Bank of Canada.  That's probably why it's the smallest tower downtown; they ran out of gold.

When we got off the boat, we went over to the open air area where they had a DJ mixing tunes.  www.MakeItFunky.ca was rocking the afternoon away.  People were just lounging about in the fake grass, kids were breakdancing, young and older.  It reminded me of the beach in Italy; every Sunday, families would go to the beach and make it a day with food and family.  This had the same feeling and it was right here, right now in our great city.  Check it out!

Cheryl Bower

www.CherylBower.com

RE/MAX Hallmark Realty Ltd.

Flying Off the Shelf

This posting was from my broker, Ken McLachlan the other day.  Thought it appropriate to what is happening in our marketplace in July.

Another beautiful morning here in our City and our real estate market is still humming along well into July. Many would of predicted for our market to have adjusted to a slower summer market by now, but by all accounts, nothing could be further from the truth.

As they say in retail, product is just flying off the shelf.

Here is a list of possible reasons for the strong activity, in no particular order of relevance:

• low low interest rates
• abundance of mortgage money available
• not many quality homes on the market at one time
• still a pent up demand from the late fall and early winter slowdown
• renewed confidence in our national and global financial systems
• realtors are working long hours with a sense of confidence in our economy
• Toronto is a fantastic city to live in and raise a family in, people are moving here
• in spite of what many predictors have said, the sky didn't fall and won't fall
• real estate is the investment of choice over everything else

Summer in the city, no better place.

 

Ken McLachlan

Broker/Owner

RE/MAX Hallmark Realty Ltd.

 

 

Cheryl Bower

www.CherylBower.com

RE/MAX Hallmark Realty Ltd.

Another beautiful morning here in our City and our real estate market is still humming along well into July. Many would of predicted for our market to have adjusted to a slower summer market by now, but by all accounts, nothing could be further from the truth.

As they say in retail, product is just flying off the shelf.

Here is a list of possible reasons for the strong activity, in no particular order of relevance:

• low low interest rates
• abundance of mortgage money available
• not many quality homes on the market at one time
• still a pent up demand from the late fall and early winter slowdown
• renewed confidence in our national and global financial systems
• realtors are working long hours with a sense of confidence in our economy
• Toronto is a fantastic city to live in and raise a family in, people are moving here
• in spite of what many predictors have said, the sky didn't fall and won't fall
• real estate is the investment of choice over everything else

Summer in the city, no better place.

 

Ken McLachlan

Broker/Owner

RE/MAX Hallmark Realty Ltd.

 

 

Cheryl Bower

www.CherylBower.com

RE/MAX Hallmark Realty Ltd.

Happy People...What makes them Tick?

 

I've been looking around me lately and realize there are truly not too many really happy people.  I guess to understand Happy Folks, you have to understand Unhappy Ones.  Years ago, I remember hearing a woman describe a study of happy people.  The study determined that the happiest people in the world are those with a cause outside of themselves.  What does that mean, a cause outside of themselves?

Well, simply put, it means that you are dedicated to something, anything outside of your own self thinking.  To fully understand this, take a look at some unhappy people you know.  What is their focus?  In my estimation, their focus is almost always themselves, their health, their love life, their weight, their hair or lack thereof....etc.  Unhappy people are self absorbed with anything to do about....you guessed it....themselves.  We all know these people; sometimes, we are even these people.  Whining, complaining, blaming, being persecuted by, you name it, they have it.

Happy people on the other hand are usually too busy to consider whining or complaining because they are dedicated to something or someone else.  Say for example, working with various charities, or feeding kids breakfast, or reading to the blind or even emersing yourself in a great book.  For a moment, for a lifetime, you are happy because the focus of your existance is not selfish...it is self-less, a very noble and HAPPY way to be.

I've been looking around me lately and realize there are truly not too many really happy people.  I guess to understand Happy Folks, you have to understand Unhappy Ones.  Years ago, I remember hearing a woman describe a study of happy people.  The study determined that the happiest people in the world are those with a cause outside of themselves.  What does that mean, a cause outside of themselves?

Well, simply put, it means that you are dedicated to something, anything outside of your own self thinking.  To fully understand this, take a look at some unhappy people you know.  What is their focus?  In my estimation, their focus is almost always themselves, their health, their love life, their weight, their hair or lack thereof....etc.  Unhappy people are self absorbed with anything to do about....you guessed it....themselves.  We all know these people; sometimes, we are even these people.  Whining, complaining, blaming, being persecuted by, you name it, they have it.

Happy people on the other hand are usually too busy to consider whining or complaining because they are dedicated to something or someone else.  Say for example, working with various charities, or feeding kids breakfast, or reading to the blind or even emersing yourself in a great book.  For a moment, for a lifetime, you are happy because the focus of your existance is not selfish...it is self-less, a very noble and HAPPY way to be.

Real Estate Madness

I don't know what has promted the insanity that is going on in our marketplace, but it is difficult to explain to buyers that the principal of supply and demand in our city is alive and flourishing.  I showed a very mediocre home 4 days ago; the seller's agent was reviewing offers July 7 at 4 p.m.  We had registered our offer on July 6 and at that time, there were two others.  The property is in a desireable location, however needed approximately $50,000.00 worth of work, plus there were two (count 'em) separate apartments in the basement.  Doesn't sound like dream home, does it?  Anway, what ensued afterwards was pandemonium.  There ended up being 7 offers, including ours and I had suggested to my purchaser he be with me in the event our offer was accepted and changes were necessary.  My client got to see first hand the "game" of real estate.  People going in and out of the home (in this case, in no particular order or organization), home inspection(s) going on....madness.  Anyway, we decided to retract our offer and keep looking.  It will be interesting to see the end result of this deal today.

I can only explain what is happening as follows:

1.  We have and continue to have, record low interest rates.  Call up your bank today and you can still secure a 5 year rate below 4%.  Unbelievable.  The variable rate continues to hold and we in the industry anticipate this will remain very low (right now 2.65%) until well into 2010.

2.  There is a severe shortage of homes on the market.  Go down any street...no signs!!!  Come on people, help us out here.  Isn't it time for a move?  ;-D

3.  There are tons, I mean tons, of first time buyers on the market.  They all qualify for government incentives that give rebates on land transfer costs and closing costs.  Very affordable!

Finally, we just live in a great city!  Beautiful, clean (except for right now with the garbage thing going on) and for a big city, quite safe.  On a whim this past weekend, we were at Ontario Place and decided to take a helipcopter ride which they offer there.  It cost about 60$ a person and flies over the city centre and harbour.  I can tell you, we live in a first class city-it was breathtaking.  Try it one day.  I'm not a good flyer, but I loved this experience.

Cheryl Bower

www.CherylBower.com

RE/MAX Hallmark Realty Ltd.

Toronto: A Wonderful Mosaic of People

I like to use the word "mosaic" in my conversations.  Reason?

1.  My sister Michele and I are mosaic artists; we have sold hundred of our pieces at various art shows like the Distillery District and Queen West Art Crawl, to name a few.  We have taught (been paid and or for free, because we love it) at various schools in and around Toronto.  Glass and tile mosaic projects are so simple, we've had children as young as 4 and hosted  older adult gatherings, over lychee martinis, in a backyard.

2.  Mosaics are why I'm travelling with my son and nephew to Italy this summer; they don't know it yet, but I'm making side trips to ancient sites to view the mosaics.  Tee hee....they'll love it...not!

3.  We live in a town with a plethora, or mosaic of people.  This week a number of people that were sworn in as citizens stated why they loved Toronto (www.thestar.com).

Several hundred people take their citizenship oaths today at nine spots around the GTA. We asked eight to tell us their favourite things about Toronto.

1.
"The signs that say 'squeeze over' when the lanes are narrowing – I think that's so cute. We have strawberries in California but I like the Ontario ones grown here better."
– Suzan Gibbs, over 60, Sacramento, Calif.

2.
"I love to go to the Rogers Centre to watch baseball when I have the chance and the money."
– Gregory Wickramasinghe, 44, Kegalle, Sri Lanka

3.
"I live 500 metres to the beach from Woodbine Ave. and it is beautiful. On my days off, I can play soccer with my friends."
– Ivaylo Miladenov, 37, Sofia, Bulgaria

4.
"The multiculturalism. I have a Japanese friend married to a Bangladeshi guy. When I want to talk to Filipinos, I can have my own language and food to ease up the loneliness."
– Alma Balcena, 36, Negros Occidental, Philippines.

5.
"The festivals, I love all of the different festivals: the Greek festival coming up, the Beaches jazz festival."
– Taimour Ashfaq Malik, 38, Pakistan

6.
"I'm originally from the south of Russia, by the Caspian Sea, and I used to live close to the sea, so we try to go to Harbourfront and be there frequently."
– Alexander Shteiman, 38, Russia

 

Cheryl Bower

www.CherylBower.com

RE/MAX Hallmark Realty Ltd.

Busy, Busy in the City!

Well, it almost rhymes!  Our Real Estate Market continues to kick butt here in Toronto.  Lots of sales, lots of multiple bids and happiness for sellers and buyers.  The sellers are benefiting because, despite the downturn in the U.S. we are still brisk in sales here; so much so, there is a shortage (again) of great homes on the market.  Case in point:  looking for 3 bedroom bungalow in the west end for 4 different people, between 350-550K.  By the time you have booked your appointment, the offers are already being registered on the property.  And the condo resale market?  Exploding (between 240-340K)

The buyers I have, although sometimes paying over the asking price are in a key position because of the attractive interest rates, still below 4% for 3 year mortgages.  The variables' last post, 2.65%.  Love it.  Low rates create affordability for our key investors, first time buyers. 

Now that the kids are out of school, we should start to see a bit of a slow down, simply because agents as well as sellers/buyers go on holidays and put their plans on hold.  However, it has been a really, really late spring market and I suspect we'll see brisk sales well into July, slowing down a bit in August.  The key is to find the product and pounce on it once it appears.  That's why we're hired, to be on top of the game for our people. 

On another entirely different note, I heard some great things today.  The fundraiser we had on May 7 for the Children's Breakfast Program as well as the Teresa Group, exceeded $18,000.00.  WOW, thank you Toronto, for feeding our kids and taking care of our AIDS babies.

Finally, a guy in my office did a great thing today.  He rented a bin, called his cause the "2 BUCK CHUCK" and encouraged neighbours to bring over their (ever growing and stinky) garbage, chuck it in and donate $2.00 to the Children's Miracle Network, supporting the Hospital for Sick Children.  What a stand up guy; what a great idea...I'm jealous I didn't think of it.  Out of the box thinking...way to go, Dana!

Cheryl Bower

www.CherylBower.com

RE/MAX Hallmark Realty ltd.

Something about Us Real Estate Agents and Our Market

Words from Michael Polzler

Real estate - The new market reality

As stability returns to residential real estate markets across the country, realtors and their customers are breathing a sigh of relief. The carnage south of the border has failed to materialize in Canada and all indicators - economic and otherwise -- point to a housing market on the upswing.

These have been trying times for our industry. Realtors that bought into the negativity in the marketplace from September 2008 to March 2009 now find themselves in a precarious position. No listings, no clients, no money. The 'paralysis by analysis' approach of letting fear limit progress has few benefits. Those that stayed the course over the period-pressing forward despite obvious challenges, adjusting to conditions, employing new strategies, creating solid business plans, farming entire neighbourhoods, and aggressively listing properties--are now ideally positioned. Realtors, who stepped up, instead of standing back, are now reaping the rewards.

The same held true for purchasers. Buyers who moved in the midst of uncertainty, ignoring warnings from doom and gloom forecasters, economists and naysayers, snapped up some of the best real estate deals this market has seen in years. By contrast, those who panicked and chose to sit it out on the sidelines are now facing rising interest rates and-in some markets-limited inventory levels.

With national resale housing market activity returning to pre-recession levels in May, it would seem that we've come through the worst of the financial meltdown, with the real estate correction nearing an end. The number of positive indicators is very encouraging. However, recovery is still underway, and there may still be some bumps along the road. Nevertheless, the buoyancy in the marketplace took economists by surprise. Just over half of all major markets reported an increase in unit sales in May over year-ago levels. Consumer confidence continues to strengthen across the board. While the summer months are approaching, it is important to remember that there is still much work to be done. This is not the time to take your eye off the ball.

Ours is a market and a  business that must, by necessity, continually evolve. We know by experience that the real estate climate can change quickly, as evidenced by events such as 9-11 and the current financial crisis. However, a smart realtor is one that is always prepared-never taking a good market for granted, always employing strong business fundamentals to ensure that, while markets may suffer, his/her career will not. To that end, going forward, we may all have to go a bit further, work a bit harder, and persevere to maintain a competitive edge. While some may view this a time to survive, there's no question that, for those who are savvy, it can very well be a time to thrive.
Sincerely,

Michael Polzler
Executive Vice President and Regional Director
RE/MAX Ontario-Atlantic Canada

Real estate - The new market reality

As stability returns to residential real estate markets across the country, realtors and their customers are breathing a sigh of relief. The carnage south of the border has failed to materialize in Canada and all indicators - economic and otherwise -- point to a housing market on the upswing.

These have been trying times for our industry. Realtors that bought into the negativity in the marketplace from September 2008 to March 2009 now find themselves in a precarious position. No listings, no clients, no money. The 'paralysis by analysis' approach of letting fear limit progress has few benefits. Those that stayed the course over the period-pressing forward despite obvious challenges, adjusting to conditions, employing new strategies, creating solid business plans, farming entire neighbourhoods, and aggressively listing properties--are now ideally positioned. Realtors, who stepped up, instead of standing back, are now reaping the rewards.

The same held true for purchasers. Buyers who moved in the midst of uncertainty, ignoring warnings from doom and gloom forecasters, economists and naysayers, snapped up some of the best real estate deals this market has seen in years. By contrast, those who panicked and chose to sit it out on the sidelines are now facing rising interest rates and-in some markets-limited inventory levels.

With national resale housing market activity returning to pre-recession levels in May, it would seem that we've come through the worst of the financial meltdown, with the real estate correction nearing an end. The number of positive indicators is very encouraging. However, recovery is still underway, and there may still be some bumps along the road. Nevertheless, the buoyancy in the marketplace took economists by surprise. Just over half of all major markets reported an increase in unit sales in May over year-ago levels. Consumer confidence continues to strengthen across the board. While the summer months are approaching, it is important to remember that there is still much work to be done. This is not the time to take your eye off the ball.

Ours is a market and a  business that must, by necessity, continually evolve. We know by experience that the real estate climate can change quickly, as evidenced by events such as 9-11 and the current financial crisis. However, a smart realtor is one that is always prepared-never taking a good market for granted, always employing strong business fundamentals to ensure that, while markets may suffer, his/her career will not. To that end, going forward, we may all have to go a bit further, work a bit harder, and persevere to maintain a competitive edge. While some may view this a time to survive, there's no question that, for those who are savvy, it can very well be a time to thrive.
Sincerely,

Michael Polzler
Executive Vice President and Regional Director
RE/MAX Ontario-Atlantic Canada

Gal Pals

The importance of friends, priceless, as they say in the Mastercard commercials.

The girls and I went out on Thursday to celebrate one of our birthdays.  It's been a long time since we've been able to sit down and just chat without listening to a band or having our significant ones with us.  For a good part of the evening, we relived Italy, a trip 11 of us took in 2007 to celebrate 4 50-year-olds milestone.  In 2010, there are plans in the works for Paris and the France countryside.  Again, another milestone for 4 50-year-olds.  As my friend and sister Ruth said, "at this stage in our lives, we have worked hard, damn hard and we should be enjoying life....to live life deliberately is the key!"  I am not sure why that resonated with all of us so much, but suddenly the next day, there were emails flying around saying we'd all used that phrase the following day, sprinkling it in different conversations.  Ruth had indicated that in the past few months, two associates, women in their early 50's, had passed from various cancers.  Early 50's.....like us.  Hence, Live Life Deliberately.

We shared things we were embarking on:  Ruth was heading to the Pokonos, I am taking my boys to Italy in August...stories about all of our kids and their adventures...the transplanting of our children into young adults that had turned into alien beings.  Their trials. 

I'm sure the neighbouring tables in the restaurant were baffled by our loudness and exuberance, but we were there to enjoy, embrace and LIVE LIFE DELIBERATELY.  Just lovely.

Cheryl Bower

www.CherylBower.com

RE/MAX Hallmark Realty Ltd.

Different Day, different Mood

To laugh often and much;

To win the respect of intelligent people and the affection of children;

To earn the appreciation of honest critics and endure the betrayal of false friends;

To appreciate beauty, to find the best in others;

To leave the world a bit better, whether by a healthy child, a garden patch or a redeemed social condition;

To know even one life has breathed easier because you have lived.

This is to have succeeded.

Toronto-neat things to do, support or just plain kick back

I love summer in Toronto; always look forward to long weekends because a lot of people clear out leaving me to my city, kind of by myself.  Well, not really, but......

Here are some things I think are neat and worthy of participation.

The Toronto Outdoor Art Exhibition (www.torontooutdoorart.org) is being held this year on July 10, 11 and 12.  I love to just take a day and wander around; sometime, I take the next day too if I am particularly fond of something and it is still available for purchase.  You will find some of the best talent our city and actually, other provinces has to offer.  Check it out!

Ontario Place is absolutely beautiful, peacful and you can just wander for hours by the water.  We purchased a 2009 Play All Summer Pass (for 4/$49.00 each)  This lets you in (also to the exhibition when it's in town) and for your fee you get 3 X 5$ parking passes.  The restaurants are fun, lively and good and there is nothing like being by the water. Often we wonder over to the boats and pretend we own a yacht.  Good for about 6 seconds of laughs.  Ditto goes for Centre Island, although more of an ordeal with those crushing crowds going on the ferry.  Info:  www.ontarioplace.com

The Furniture Bank (www.furniturebank.org)  Not something to do, but if you're clearing out stuff from your home, go on-line here.  Here's their mission statement.  "the fact is, furniture is more important than you may think.  And it's even more so to disadvantaged families, women, children and refugees that are leaving a shelter or setting up home for the first time."  This is a great place to unload stuff.  If they pick up from you, it costs for delivery but not much.  Love this idea.

Finally and the recipient of the Toronto Community Foundation's 2009 Vital People winners, Rhonda Teitel-Payne has been growing organic food at Earlscourt Park for marginalized and underserviced neighbourhoods.  What a great gal!  Fresh veggies, fruit all cultivated in a community garden.  Google "Community Gardens, Toronto" to volunteer or money support these worthy causes.

Cheryl Bower

www.CherylBower

RE/MAX Hallmark Realty ltd.