Etobicoke Condo Townhouse vs.Freehold Townhome

Here is the information you need to get an idea of what is happening in Condos and Townhomes in Etobicoke.

Etobicoke is divided into 5 districts starting at Lake Ontario all the way up to Steeles Avenue. They number as W6,7,8,9 and 10. I have maps on my newsletter at the home site to show you the borders of each district.

W6 stats from the Lake and goes north to the QEW.
The market is divided into three categories that are the types of Condos. Agents list them as Condo apartments, Condo Townhomes and Freeholds (not a Condo) but similar in concept. The difference between these Condos and freeholds lies in the Maintenance fees and the Insurance premiums primarily.

I have found is that maintenance fees must be voted on by the board of directors and then the owners must ratify any increase. Normally, maintenance fees would only go up by 1 to 5% at about the most.
With the newer complexes they are fixed for the first 3 years and then escalate very slowly. The status certificate is a document that shows current and future budgets and will indicate any potential increase in maintenance fees over the next year and sometimes longer. Just depends on the range of the future budget.
Low maintenance fees would be in the range of about $90 to $175. I would think that higher maintenance fees are in the range of $250 and up. There are many complexes in Etobicoke and surrounding areas that have low maintenance fees.
Also, the maintenance fee covers grass cutting, snow shoveling, garbage removal, common area lighting etc. Most important it covers your building insurance. Thus, you require less property insurance as you only need to insure your contents. I would say that you would save about $200 from your insurance premium in a condo townhouse versus a freehold townhouse, maybe more.

Now in W6 27 Condo Apartment sold , 18 1bed, 8 2bed and 1 3bed for an average sold price of $297,041. On average it took 50 days to sell them.
5 Condo Townhouses Sold 2 2 bed, 3 3bed for an average of $383,800 taking 44 DOM(days on market).
5 freeholds sold 1 2bed, 3 3bed and 1 4bed average $375,600 DOM 25.
It takes almost half the time to sell a Freehold than a townhome or apartment largely due to the number of units available.

Call me to find out the stats in your District. I will be happy to forward them to you.
For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

January 2009 Hot Properties in Etobicoke

Where are the hot properties in this crazed market?

Well if you decifer the December statistics and are looking for detached homes north of Eglinton to the 401, 11 of 37 sold with an average price of $434,000. That is the W09 district.

If looking to buy or sell a Condo Apartment in Etobicoke 15 sales out of 51 listings sold in the same area but this average price is in the $125,000 range.

For Condo Townhouses the hottest market was south of Eglinton to Burnhamthorpe(W08) where 4 out of 10 listings sold in the lower price ranges of $250-260,000.

The average length of time for a sale is in the 34 days on market range. In W07 QEW north to Bloor area it was the lowest at 27 days average.

Power of Sales listings have surged with all the Banks tightening their belts apparently. Last year at this time a random search of Bank sales would offer up 5-10 listings . Now that has jumped to four to five times that number currently. This includes condos, commercial and detached homes.

With the interest rates at all time lows this is the opportunity you've been waiting for. You can buy properties for 10 to 20% less than a year ago. If you intend to fix and flip quickly to keep carrying costs at a minimum and get on the Spring market any one of the above markets are showing good activity. In some cases due to the weather and this slower current market there is still a substantial yet smaller profit available.

This months websites to check out the best way to organize your emails, videos,social networking with your desktop, laptop, mobile device would be dimdim.com and zenbe.com. Google them if the link is not working.

Happy Hunting!


For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com

Getting ready to sell and move to a Condo.

Getting the home ready for selling is at best a long term project that should start when you move in.
Well if not then , thaen definitely shortly thereafter. It sure would save a lot of time. First you make a list of what has to go and whether you wish to face up to it or not DECLUTTER is the best. It is not the 60"s when your parents stretched the dollar so far to make room for more kids. Excess makes a mess. And this is not the time to do all the fun stuff like picking a realtor, pricing your home and cleaning up. http://www.etobicokehomes4sale.com/selling-process.htm It has to be ongoing, non-stop cause when your getting ready to downsize all that big stuff that used to fill your house has to go. Condos, if they have one main room or townhomes being 14 feet wide are not going to handle any of your stuff. The time is now . If you want a quick way to find a condo try out this new MLS tool that helps you break it down real fast. Good Luck
http://www.etobicokehomes4sale.com/mls-ca-real-estate-etobicoke.htm

For more information please contact:

Kathy Gordon
Sales Representative
RE/MAX Professionals Inc., Brokerage
270 The Kingsway Suite 200, Toronto, Ontario M9A 3T7

BUS (416) 236-1241
FAX (416) 231-0563
E-MAIL kathy@etobicokehomes4sale.com
Website: etobicokehomes4sale.com