I have another fantastic listing in Brampton available for purchase.  This is a Daniel’s built freehold townhouse, which means there are no monthly maintenance fees.  The townhouses were built in approximately 1995, and this particular property is being sold by the original owners.  The house has been maintained in absolutely perfect condition – it’s never been subjected to any abuse, any pets, any kids, or any parties.  It’s a 3 bedroom, 3 bathroom beauty that has seen a number of recent renovations to keep it brand new.

A new high quality roof was installed in 2009 by Home Depot with a 10 year warranty.  The air conditioner has been upgraded to a Carrier, the central vacuum is a Beam.  The kitchen cabinets have been upgraded and a new HVAC furnace was installed in 2006 with a 10 year warranty.  A ventilator unit sits in the basement to constantly pump fresh air into the house.  A new washer and dryer was installed in 2008 along with a new fridge in the kitchen.  A brand new aluminum garage door was installed in 2005 with a 10 year warranty.

The best part about this property is the backyard, where the owners planted a tree when they first occupied the house.  15 years later, the backyard is the only one in the neighbourhood to enjoy the ample shade of the mature tree in the backyard, providing lots of shade during hot summer days.

The home is super close to Highway 410, the new Brampton hospital, a fitness and wellness centre, plazas, shopping, and public transportation.

If you’re interested in this home or one similar to this, please leave me a comment or give me a call.

Brampton real estate market: June 2010

The average time it takes to sell a home in Brampton currently sits at 24 days.  Most homes are selling anywhere between 97% – 98% of the asking price. There has been a substantial amount of new Brampton listings, resulting in increased choice and selection for prospective home buyers.

In June of 2010, Brampton had 1859 active listings on the market and 1358 new listings. There were 701 recorded sales in this month. Here is the break down according to areas in Brampton.

W0uld you like a full copy of this report?  It’s available for download right here.

Brampton Real Estate Market Report
W23 (Any area in Brampton west of Highway 410)

Overall
Average sale price: $345,682
Median sale price: $335,000
Average number of days it took to sell a property: 24 days
Average % of listing price a property sold for: 98% of asking price

Detached Homes
Number of properties sold: 222
Average sale price: $391,330
Median sale price: $370,750
Average % of listing price a home sold for: 98% of asking price

Semi-Detached Homes
Number of properties sold: 84
Average sale price: $309,711
Median sale price: $315,000
Average % of listing price a home sold for: 98% of asking price

Condo Apartment
Number of properties sold: 12
Average sale price: $225,875
Median sale price: $212,000
Average % of listing price a condo sold for: 97% of asking price

Condo Townhouse
Number of properties sold: 35
Average sale price: $238,326
Median sale price: $235,000
Average % of listing price a home sold for: 97% of asking price

Attached/Row/Townhouse
Number of properties sold: 34
Average sale price: $289,297
Median sale price: $290,050
Average % of listing price a home sold for: 98% of asking price

Brampton Real Estate Market Report
W24 (Any area in Brampton east of Highway 410)

Overall
Average sale price: $347,153
Median sale price: $338,000
Average number of days it took to sell a property: 24 days
Average % of listing price a property sold for: 97% of asking price

Detached Homes
Number of properties sold: 164
Average sale price: $430,521
Median sale price: $430,500
Average % of listing price a home sold for: 97% of asking price

Semi-Detached Homes
Number of properties sold: 58
Average sale price: $321,081
Median sale price: $323,500
Average % of listing price a home sold for: 98% of asking price

Condo Apartment
Number of properties sold: 33
Average sale price: $171,224
Median sale price: $159,900
Average % of listing price a condo sold for: 97% of asking price

Condo Townhouse
Number of properties sold: 29
Average sale price: $189,607
Median sale price: $187,200
Average % of listing price a home sold for: 97% of asking price

Attached/Row/Townhouse
Number of properties sold: 28
Average sale price: $287,382
Median sale price: $301,500
Average % of listing price a home sold for: 98% of asking price

If you are looking for specific Brampton real estate sales numbers for your neighbourhood or street, please contact me!

Welcome to Solstice Condos, a new luxury condo building directly across the street from Square One Shopping Centre in the heart of Mississauga. This particular listing is an amazing corner unit, and boasts the largest 1 bedroom + den floor plan in the building. The entire condo features dark hardwood laminate flooring that leads you into a trendy designer kitchen that includes a high-end stainless steel fridge with a bottom freezer drawer, stainless steel stove, stainless steel dishwasher, and stainless steel microwave/hood combination. The kitchen also comes with gorgeous granite counter tops and dark kitchen cabinets.

As this is a corner unit, you’re granted a fantastic view of Square One to the northeast and a breathtaking view of the Toronto skyline and sparkling Lake Ontario to the Southeast.

The condo also features 2 bathrooms (one of which is an ensuite in the bedroom), stackable washer and dryer, and all the latest building amenities you’d typically find in a new luxury condo. The building is directly across the street from the YMCA, the Mississauga Central Library, the Living Arts Centre, Square One Shopping Centre, Tim Horton’s, Famous Players Coliseum, Mississauga Transit, and much more.

The current list price for this property is $279,000.

If you’re interested in obtaining more information on this listing or would like to see it in person, please leave me a comment here or contact me.

THIS HOUSE HAS NOW BEEN SOLD.

Click here to view the Virtual Tour (Remember to view it in Full Screen mode for optimal viewing!)

This beautiful Mattamy-built home is located in the Northwest corner of Brampton by Chinguacousy and Bovaird.  It’s a very sunny and comfortable detached 4 bedroom home that is on a very popular street.  It’s a quick walk to Mount Pleasant GO Station and a plaza that has all the conveniences.  The main level of the home features lovely hardwood laminate flooring and a very spacious and open-concept kitchen with a large eat-in area and a walkout to the newly laid stone patio.

The family room features a gas fireplace and large windows to let the sun pour through.  The front of the house features a very comfortable veranda that provides a cool, shady escape from hot summer days.  The master bedroom includes a 4-piece ensuite bathroom and a large walk-in closet.  Again, this property is on a very popular street and most likely won’t last long.  All the appliances, window coverings, and electrical light fixtures come with the sale.

This house is listed at $377,000.

If you’re interested in this Brampton home or would like to look at other real estate in Brampton, please leave me a comment here or email me directly!

* This listing has now been sold. *

I’ve just listed a property this weekend in Brampton.  It’s a condo townhouse in a popular condo complex by Clark Blvd. and Torbram.  The 3 bedroom home has been completely renovated and features a combined living/dining room with new laminate floors, an oak banister, remote light switch, and a unique video intercom system that allows you to see who’s at the door.  There are new carpets throughout the rest of the house.

Both bathrooms have been updated and the kitchen boasts new ceramic tiles and a ceramic backsplash.  There is plenty of updated lighting throughout the house, making this unit a very bright and inviting place.  The sellers have created a rare entrance to the garage from within the home.  A brand new deck has been built in the backyard, providing plenty of room for family entertainment outdoors.  There are new windows and doors that have been added, and the property includes all the appliances, electrical light fixtures and window coverings.

To see the virtual tour for this property, click here!

If you’d like more information on this property, please leave me a comment here!

Hi everyone

Although I do most of my real estate work in Brampton, I also get many listings in the surrounding areas such as Mississauga, Milton, and Toronto.  I’ve been contemplating over the last few weeks on whether or not it would be appropriate to market these listings on this site.  And although this site is known as the Brampton Real Estate Blog, I think it would be a disservice to my clients outside of Brampton if I didn’t utilize every tool at my disposal to help them get their homes sold.  So I’m going to start introducing other listings I have on this site, and hopefully it won’t cause too much confusion.

So without further delay, I’d like to present a lovely detached home in Mississauga in the well-sought after Applewood neighbourhood.  This home has been completely renovated and boasts a brand new kitchen, new flooring throughout, a new roof, new and updated bathrooms, and fresh coats of new paint.  The home is a 4 level backsplit with 4 bedrooms.  It also has a 1 bedroom basement apartment with it’s own separate entrance.

The great thing about this house is the location.  It’s simply steps to several nearby schools and public transit.  You’re also going to enjoy the convenience of shopping and retail outlets that are close by, as well as city parks to enjoy.  If you’re interested in seeing this property or obtaining more information, just leave me a comment here!

Brampton real estate market: March 2010

March of this year was extremely busy on the Toronto Real Estate Board and helped contribute to the best first quarter on record.  Compared to March of last year, inventory grew by a whopping 42%.

The average time it took to sell a home has dropped considerably to an astounding 18 days! The Brampton real estate market still remains very strong, and most listings that appear on the market have no problems selling for a great price.

In March of 2010, Brampton had 1568 active listings on the market and 1811 new listings. There were 1062 recorded sales in this month. Here is the break down according to areas in Brampton.

Brampton Real Estate Market Report
W23 (Any area in Brampton west of Highway 410)

Overall
Average sale price: $340,199
Median sale price: $330,000
Average number of days it took to sell a property: 17 days
Average % of listing price a property sold for: 99% of asking price

Detached Homes
Number of properties sold: 344
Average sale price: $384,566
Median sale price: $377,550
Average % of listing price a home sold for: 99% of asking price

Semi-Detached Homes
Number of properties sold: 144
Average sale price: $304,303
Median sale price: $307,750
Average % of listing price a home sold for: 99% of asking price

Condo Apartment
Number of properties sold: 17
Average sale price: $199,206
Median sale price: $207,000
Average % of listing price a condo sold for: 97% of asking price

Condo Townhouse
Number of properties sold: 41
Average sale price: $225,851
Median sale price: $225,000
Average % of listing price a home sold for: 98% of asking price

Attached/Row/Townhouse
Number of properties sold: 55
Average sale price: $286,031
Median sale price: $289,500
Average % of listing price a home sold for: 99% of asking price

Brampton Real Estate Market Report
W24 (Any area in Brampton east of Highway 410)

Overall
Average sale price: $356,044
Median sale price: $337,500
Average number of days it took to sell a property: 19 days
Average % of listing price a property sold for: 98% of asking price

Detached Homes
Number of properties sold: 237
Average sale price: $433,386
Median sale price: $432,000
Average % of listing price a home sold for: 98% of asking price

Semi-Detached Homes
Number of properties sold: 115
Average sale price: $314,995
Median sale price: $317,0000
Average % of listing price a home sold for: 99% of asking price

Condo Apartment
Number of properties sold: 32
Average sale price: $171,144
Median sale price: $163,000
Average % of listing price a condo sold for: 97% of asking price

Condo Townhouse
Number of properties sold: 34
Average sale price: $206,872
Median sale price: $195,125
Average % of listing price a home sold for: 98% of asking price

Attached/Row/Townhouse
Number of properties sold: 39
Average sale price: $287,871
Median sale price: $294,500
Average % of listing price a home sold for: 99% of asking price

If you are looking for specific Brampton real estate sales numbers for your neighbourhood or street, please contact me!

Hi everyone

I will be starting a new weekly segment on my blog called the Brampton Real Estate Recap, where I will be summarizing some of the most common questions I received from my buyers, sellers, or readers from this blog.  Most of these questions are quite relevant to how the Brampton real estate market is doing and the common issues that clients are facing when buying or selling.

If any of you have any questions you’d like to have answered and possibly featured here in an upcoming article, I invite you to join my Brampton Real Estate Message Board.  It’s free to sign up, and you’re encouraged to post your thoughts, questions, or suggestions about anything.  I’ll post any helpful or interesting questions here every week.

And now, without further delay, here are my top real estate questions of the week:

What does “sold conditionally” mean?  Can I still see the house?

When an offer is accepted between a buyer and a seller, the offer is considered only sold conditional.  Typically, in the sale of a home, the buyers will have 5 business days to arrange financing with their bank and have a home inspector visit the home to ensure that there are no major defects with the house.  If the sale involves a condo apartment or townhouse, the buyers will have 5 business days to arrange financing with their bank and typically 2 business days to have their lawyers review the status certificate from the condo corporation.  Whether it’s a house or a condo, if both of these conditions are fulfilled, the deal is then able to go firm.

During the conditional period, sellers have the option of continuing to allow prospective buyers to view the property or suspending showings altogether.

What is a status certificate?

I’ve written a previous article about this here, but in summary, a status certificate is a report that is ordered by the seller upon acceptance of an offer and provided to the buyer for review.  This report outlines important information, such as the condo corporation by-laws, how much money is in the reserve fund, the current budget, how much maintenance fees are and whether they are predicted to increase or remain the same, potential claims against the corporation, and other financial information.  The buyer’s lawyer will review this status certificate and determine whether or not the condo corporation is healthy or not, and if it is, the buyer will be advised to proceed with the purchase.

What should I expect if I’m a buyer in this market?

Despite the fact that Brampton is one of the busiest real estate areas in the GTA, inventory of good homes are still low.  This has created a hot sellers market, and buyers who eventually find a suitable home find themselves competing in a multiple offer scenario with other buyers.  Many homes are selling close to listing price, and a handful are selling above listing price.  If you are in the market of buying a home, be prepared to submit an offer on the same day you find the right home, provided the sellers are accepting offers.  If you wait even a day or two, it may be too late.

I heard I’ll need a 10% down payment after April.  Is this true?

If you’re purchasing a resale home to live in, you will still be able to purchase with just 5% down.  The only change in mortgage rules is for buyers who will be purchasing rental income properties that they won’t be occupying, and if that is the case, they’ll be required to put 20% down.

Will I have to pay HST on the purchase of my home?

If you’re buying a new home, read my article here.  If you’re buying a resale home, all taxes are already included in the purchase price!  You will, however, be paying HST on such services as your legal fees, home inspection, and other real estate related services.

** July 18, 2010 – UPDATE: This community has now been SOLD OUT**

Brampton Real Estate Update

As the Brampton real estate market grows, new subdivisions continue to pop up around the city.  By now, you’ve probably heard that Daniels is set to introduce a new townhouse community in Brampton.  Here is a brief overview of what to expect for this new corner of Brampton and how you can register for the preview.

Where will it be located?
You’ll find this new neighbourhood on Bramalea Rd., just north of Sandalwood Parkway.

What kind of homes will be available for purchase?
150 townhouses will be available in 1 bedroom, 2 bedroom, and 3 bedroom layouts.  The square footage will range from 529 – 1305 square feet.

How much will these homes cost?
Pricing will start at $159,900.  More pricing will be determined soon.  If you would like to be updated on pricing, please leave me a comment at the end of this article.

How much deposit will be required?

1. $2,500 upon signing the Agreement of Purchase and Sale
2. An additional $2,500 10 days after purchasing the home
3. $1,000 each month until you reach 5% of the purchase price

What about HST?
The HST will be included in the price already.

How soon can you move into your home?
Anywhere between 30-90 days of the purchase.

I’m interested in registering, what do I do?
Visit the Daniel’s Registration site.

I’ve heard that lining up for registration is insane!  What’s it like?

If you’re interested in purchasing one of these homes, contact me first to find out more about the process and what it entails!  Always be informed and have sound real estate advice.  In the meantime, check out this video from the recent registrations for Daniel’s FirstHome in Mississauga.

Brampton real estate market: January 2010

(Click for December 2009 Brampton market report)

There was a dramatic difference between January of this year compared to last year when we were emerging from our real estate downturn.  The average sale price increased by 19% compared to the same month last year.

The average time it took to sell a home continues to hover around 27 – 28 days, which is great for the winter months.  The Brampton real estate market has done considerably well.

In January of 2010, Brampton had only 967 active listings on the market, 917 of which were new listings. There were 499 recorded sales in this month. Here is the break down according to areas in Brampton.

Brampton Real Estate Market Report
W23 (Any area in Brampton west of Highway 410)

Overall
Average sale price: $335,417
Median sale price: $327,625
Average number of days it took to sell a property: 28 days
Average % of listing price a property sold for: 98% of asking price

Detached Homes
Number of properties sold: 170
Average sale price: $379,195
Median sale price: $370,000
Average % of listing price a home sold for: 98% of asking price

Semi-Detached Homes
Number of properties sold: 71
Average sale price: $294,357
Median sale price: $289,000
Average % of listing price a home sold for: 98% of asking price

Condo Apartment
Number of properties sold: 8
Average sale price: $190,244
Median sale price: $186,000
Average % of listing price a condo sold for: 96% of asking price

Condo Townhouse
Number of properties sold: 14
Average sale price: $228,507
Median sale price: $239,000
Average % of listing price a home sold for: 98% of asking price

Attached/Row/Townhouse
Number of properties sold: 35
Average sale price: $280,671
Median sale price: $279,900
Average % of listing price a home sold for: 98% of asking price

Brampton Real Estate Market Report
W24 (Any area in Brampton east of Highway 410)

Overall
Average sale price: $367,424
Median sale price: $349,900
Average number of days it took to sell a property: 27 days
Average % of listing price a property sold for: 98% of asking price

Detached Homes
Number of properties sold: 115
Average sale price: $455,193
Median sale price: $451,000
Average % of listing price a home sold for: 98% of asking price

Semi-Detached Homes
Number of properties sold: 28
Average sale price: $303,214
Median sale price: $295,250
Average % of listing price a home sold for: 98% of asking price

Condo Apartment
Number of properties sold: 20
Average sale price: $167,185
Median sale price: $171,000
Average % of listing price a condo sold for: 97% of asking price

Condo Townhouse
Number of properties sold: 15
Average sale price: $197,633
Median sale price: $194,000
Average % of listing price a home sold for: 97% of asking price

Attached/Row/Townhouse
Number of properties sold: 20
Average sale price: $285,195
Median sale price: $289,000
Average % of listing price a home sold for: 98% of asking price

If you are looking for specific Brampton real estate sales numbers for your neighbourhood or street, please contact me!

New Mortgage Rules You Need To Know

Hi everyone

By now you’ve probably heard or read in the news that the federal government is making changes to mortgage rules to ensure that Canadians don’t take on more debt.  There is a lot of confusion regarding whether or not buyers will be required to provide a larger down payment or have to meet stricter qualifications.  So what are these changes and how do they affect you?

There are 3 major changes you’ll need to know about:

1. Qualifying at a 5 year rate
   All borrowers will be required to meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter terms.
   
   
2. Refinancing limited to 90% of the loan-to-value ratio
   Currently, borrowers are able to refinance their mortgage up to 95% of the property value.  This amount has now been reduced to 90%, in order to help homeowners maintain equity in their home.
3. Minimum 20% down payment required on non-owner-occupied properties
   A 20% down payment will now be required for small (ex. 1 – 4 unit) residential rental properties if the owner does not occupy the property.  If the owner intends to live on the property (ie. a rental property), they will still be able to purchase the property with only 5% down.

These changes will go into effect on April 19, 2010.

For more details, visit my thread on my message board.

Buying a home in Brampton with no money down

If you’re thinking of buying a home in Brampton soon and are worried about coming up with a down payment, there is still a zero down mortgage program available for you to explore. Essentially, what you would be getting is a cash back from the lender that you would apply as your down payment.

This mortgage program is a lifesaver for those who want to take advantage of the low interest rates and brisk real estate market in Brampton, but don’t have enough cash in the bank as a down payment.  The interest rate will not be as low as a regular mortgage with 5% down, but it does get home buyers into a position where they can own their own home at an affordable monthly mortgage payment.

Here are some quick details:

• A minimum of 650 credit score is required
• Maximum cash back from this program is $25,000
• Amortization is 35 years
• Mortgage is calculated on a 5 year at the posted rate (currently 5.39%)

If you’re currently renting and am considering owning a home, but don’t have the cash for a down payment, this program may be for you.  Don’t let this strong Brampton real estate market pass you by!

For more details, visit my thread on my message board.  If you would like to see if you can qualify for this mortgage program, leave me a comment here or email me!

Hi everyone

I just wanted to update everyone on another house I have available in Brampton for sale.  This beautiful semi-detached home is only 1.5 years old and is located in the northwest corner of Brampton, in a very popular neighbourhood.  The house is sunny and inviting, and is in move-in condition.  The great room is spacious and perfect for entertaining the family, while the kitchen features gleaming ceramic tiles and new appliances.  The breakfast area is very sunny and walks out onto the patio in the backyard.  The entire house has brand new carpeting.

The master bedroom features an ensuite bathroom with a glass shower door and a walk-in closet.

If you’d like more information about this property or would like to see it, please leave a comment after this post.

Video Walk Through Tour

Hi everyone!

In a previous post, I covered Park Place Condos.  Here’s a quick start guide to the other big condo development that is coming up in Brampton. Blade Condos is currently under construction. Read ahead to find out more details on this condo project!

Where is it located?

The official address of this building will be 45 Railroad St., and it will be located in the heart of Brampton, directly across from the GO Station and will be occupying the former Dominion Skate Factory.  Below is a picture of the site before contruction:

Who’s the builder?

Preston Group.

How tall will it be?

26 storeys.

What kind of suites will they have available?

• One bedroom
• One bedroom + den
• Two bedroom
• Two bedroom + den

What are square footages on these units?

The one bedroom units range anywhere between 571 – 831 square feet. The two bedroom units range anywhere between 900 – 1116 square feet.

What amenities will the building feature?

1. Security
2. Skating oval that converts into a walking track in the summer
3. Fitness room
4. Swimming pool
5. Whirlpool
6. Al Fresco Dining Area
7. Yoga room

Are there prices or floor plans available?

Prices start at $179,900.  Please contact me and I’ll be happy to provide them for you.

Well, here’s the first of many videos to come.  I’ve been meaning to start video blogging for a long time now, but I’ve always preferred text for many reasons.  Some future topics will include buying and selling strategies, Brampton related stories, and other community information.

I welcome any comments, good or bad!  In the meantime, if anyone has any real estate topics they’d like covered, I’ll be glad to throw together a video.  And I promise to shave for the next video.

As promised, here are the final selling prices for homes in the W24 district of Brampton (anywhere East of Highway 410) for 2009.

I’ve just finished compiling the final selling prices for all homes in the W23 district of Brampton (that’s anywhere West of Highway 410) for 2009. I’ll be working on the numbers for W24 and have them posted shortly.

Hope this chart will provide useful for some of you!

Hi everyone!

Here’s a quick start guide to one of the new condos that are coming up in Brampton.  Park Place is currently under construction.  Read ahead to find out more details on this condo project!

Where is it located?

The official address of this building will be 4 James St., and it will be located in the heart of Brampton close to City Hall and Rose Theatre.

Who’s the builder?

Inzola.

How tall will it be?

27 storeys with a beautiful 2 storey lobby.

What kind of suites will they have available?

• One bedroom + terrace
• One bedroom + den + terrace
• Two bedroom + terrace
• Two bedroom + den + terrace

What are square footages on these units?

The one bedroom units range anywhere between 612 – 743 square feet.  The two bedroom units range anywhere between 887 – 1764 square feet.

What amenities will the building feature?

1. Security
2. Library
3. Yoga Studio
4. Fitness Room
5. Home Theatre
6. Party Room
7. Dining Room
8. Billiards Room
9. Boardroom
10. Cards Room
11. BBQ Patio
12. Guest Suite

Are there prices or floor plans available?

Please contact me and I’ll be happy to provide them for you.

Can I see what the building looks like?

You can access a live webcam that shows the construction of the building.

One of the most frequent questions I get from clients is about the upcoming Harmonized Sales Tax (HST) and how it will affect the purchase of a home.  Here is the breakdown of the rules:

When does the HST take effect?

July 1, 2010.

How much tax will I be paying in total?

13% (That’s 5% GST + 8% PST).

I’m buying a resale home, so will I have to pay this HST?

Good news!  The answer is NO!  If you’re buying a resale home, you simply pay the purchase price as usual.

I’m thinking of buying a new home from the builder, so will I have to pay this HST?

Ouch, yes you do!

But wait, I heard there is some sort of rebate program in place if I bought a brand new home?

The Province is proposing a rebate so that new homes across all price ranges would receive a 75 per cent rebate of the provincial portion of the single sales tax on the first $400,000. For new homes under $400,000, this would mean, on average, no additional tax amount compared to the current system.

Is there anything else that I would have to pay HST on?

Unfortunately, they’re hitting you everywhere.  You’ll be paying HST on legal fees, moving costs, home inspection fees, and real estate commissions.

Where can I find out the full details of this tax and how it works?

You can read all the exciting details right here.