“Condo Critic” overly critical of Bellaria in Vaughan
In his recent Toronto Star article, Condo critic Christopher Hume reviews real estate development, Bellaria Condominium (Tower 1) in Maple, Vaughan.
His opening paragraph reads as follows:
The essential condition of suburbia is that of disconnection. Though this can be seen across the GTA, there’s no better example than the corner of Jane St. and Rutherford Rd.
Once I read the article, I drew a rather different conclusion, as follows:
The essential condition of misinformed editorials is that of poor research. Though this can be seen across many literary circles, there’s no better example than this particular critique.
Suburban disconnection? I think not. The real estate development connects the tower to its 25 acre parkland setting. It connects its residents to nearby shopping, entertainment and dining. It connects to the new public transportation system in Vaughan (Viva) and it adds to the support for increasing connection to Toronto’s transit system. Finally, residents are well-connected to major highway arterties such as the 400 and 401.
Mr. Hume cites that “you’d have to be crazy to try walking there” referring to the walk from the Condo Tower to nearby Vaughan Mills Mall and the implicit need to cross Jane street and Rutherford. I fail to understand why. Is crossing the streets of downtown Toronto’s Yonge or Bloor a far less dangerous endeavour? Are all of Toronto Condo’s privy to direct access routes to shopping and entertainment?
Mr. Hume points out the Condo as being an “isolated 16-storey condo tower that could be anywhere”. Isolated? That would tend to happen as Maple’s first high-rise Condominium. I’m no Columbo but, I would guess that Bellaria Towers 2 and 3 will help alleviate this isolation. Pardon Vaughan for not subscribing to Toronto’s ”Big Bang” theory of Condo development.
Finally, Mr. Hume closes by noting the “unpleaseant brown pre-cast concrete” finish of the building. Other than offering a subjective and shallow jab at the exterior finish of the building, does this do anything to empower the reader with an informative commentary?
One only wonders whether the research behind the review amounted to anything more than a Sunday afternoon drive-by…on his return from Christmas shopping at Vaughan Mills of course.
Is it time to “move up?”
Chances are when you bought your first home you were thinking of it as a “starter home” and dreamed of owning a larger and better home one day.
With today’s mortgage rates in the lowest range they’ve been for almost 30 years, you might be pleasantly surprised that you can afford that “move up” house now. Using the equity you’ve built up in your current home, your carrying charges may not be much larger than what you’ve been used to paying. If you’re curious to find out, ask a REALTOR to help you calculate carrying costs on a “move up” home. Read more
New condos selling like hotcakes
In a year of firsts for the new condominium market, another record was set last month as sales of new condos exceeded the 20,000 unit threshold for the first time ever, Bob Finnigan, president of the Building Industry and Land Development Association revealed today.
With another 2,243 high-rise condominium suites sold in November (up 35 per cent over November, 2006), new condo sales for the first 11 months of 2007 have reached 22,059 units and BILD is projecting approximately 23,000 sales to year end, smashing the previous record of 17,561 units sold in 2005.
Click here to view the rest of the article
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The Greater Toronto resale home market reached two new heights during the first half of this month Toronto Real Estate Board President Maureen O’Neill announced today.“The 2,868 transactions recorded during the first two weeks of December have made this the first year that sales have exceeded 90,000,” said Ms. O’Neill.
This activity also represents a 3 per cent increase over the 2,783 sales recorded during the first two weeks of December 2006. Read more
Land Transfer Tax Calculator
The recently announced Toronto Land Transfer Tax is only applicable to real estate purchased within the City boundaries of Toronto.
Although various municipalities seem to have springboarded on this news and enacted increases to municipal property taxes, no other GTA cities or municipalities have yet to implement a similar tax….YET.
If you are considering a purchase in the City of Toronto and would like to be able to calculate both the Ontario and Toronto land transfer taxes, please click the calculator below.
Keep in mind that as a first-time home buyer, you will be entitled to various rebates which are also explained by clicking on the link.
Buying a Home: What You Can Afford
If you’re thinking of purchasing your first home, you probably have a lot of great ideas about what you’d like - such as several thousand square feet of living space, a two-car garage, large fenced-in lot, one or two fireplaces and a panoramic view. But it may be time for a reality check.
Most first-time buyers want their dream home right away. However, that dream home likely sells for several hundred thousand dollars and the down payment is more than you earn in two years. Not to mention the mortgage payments - which are three times your monthly take-home salary!
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Update to the Toronto LTT Rebates
The City of Toronto has indicated that it has been able to make arrangements that will allow purchasers who are eligible for a FULL rebate of the Toronto Land Transfer Tax (TLTT) to close their transactions without paying the TLTT upfront (and then receiving a rebate at a later date). The City previously indicated that these arrangements would not be made until the “spring of 2008”, but has now indicated that changes will be made by February 1, 2008, when the Toronto land transfer tax takes effect. Toronto land transfer tax is not payable on transactions closing before the tax takes effect on February 1, 2008. Read more
Province Expands Land Transfer Tax Rebate
The provincial government has announced that it is expanding the PROVINCIAL land transfer tax rebate for first-time buyers to include re-sale housing, something which REALTORS® have lobbied for.
Details
- First-time buyers of BOTH re-sale, and newly constructed homes, will be eligible for a rebate of the provincial land transfer tax of up to $2,000.
- Effective for first-time buyers who enter into Agreements of Purchase and Sale AFTER December 13, 2007.
More Information
Further information is available by calling:
Ministry of Finance
Land Transfer Tax Section
905-433-6361
Or
Ministry of Finance
General Inquiry
1-800-263-7965
Record November Sales and Record Year
A record-breaking November saw 7,313 sales, driving year-to-date totals to 88,695 sales, TREB President Maureen O’Neill announced today. “We have already exceeded the 84,145 sales recorded during 2005, which was our previous record,” said the President. “By the end of December we will have crossed the 90,000 sales mark for the very first time. As 2007 winds down, the GTA resale home market is looking as healthy as it has ever been.”
Prices were almost unchanged in November, with the average at $393,747, down marginally from the $394,646 recorded in the previous month. It was up 11 per cent over the $355,727 recorded during November 2006. Meanwhile, days-on-market came in at 32, and the list-to-sale price ratio was 98 per cent. Read more
Local Vaughan Inspiration returns home
Vaughan resident Robert Bertolas has been living with Multiple Sclerosis for 20 years since he was diagnosed at 19 years of age.
The Woodbridge man, with the help of his colleague, Suzanne Couchman, biked, ran and inline-skated across Canada to raise money and awareness for multiple sclerosis.
To read more and to donate, please visit his website.
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