August 29, 2014 35

Opinion

In The News: Interest Rates, Manhattanization, & Pensions

Three stories in the newspapers really stuck in my craw this week, and while each is not enough to necessitate an entire blog post, I figure the three together can.

The Bank of Canada announced they would not follow the “lead” of the Federal Reserve when it comes to raising interest rates, Toronto city council is going ahead full steam with the “Manhattanization” of the downtown core, and the Liberals are forcing us into a pension plan we didn’t ask for.

Okay, so the last story was described with my own bias and opinion in tact.

But that’s the point of today’s blog post: let’s discuss the pros and cons of each, as I’m dying to see where people stand on these subjects…

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August 27, 2014 19

Business

Top Three Ways To Ensure Nobody Sees Your Listing

Do you know that old adage, “This property will sell itself,” that people desperately cling to in a red-hot market?

Well I’m here to tell you that isn’t always the case.

In fact, some listings are dead as soon as the brokerage administrator hits “SUBMIT” on MLS.

Here are three ways to absolutely, positively, ensure that no active buyer views your listing…

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August 25, 2014 6

Houses

Would You Pay MORE For A Celebrity’s House?

Celebrity, famous person, infamous person – whatever you want to call it, and however you want to phrase it, would you consider adding a premium if you knew that the house or condo listed for sale belonged to somebody special?

Personally, I wouldn’t.  I don’t really believe in the idea of “celebrity,” especially when you consider what passes for a “celebrity” these days is some unemployed housewife who spends money all day and gets her own TV show.  Oh yeah – I want to read about that person in a magazine!

But my own bias aside, the way some properties are marketed, it seems that buyers really do add a premium based on the owner.  Take Michael Jordan’s house, for example…

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August 22, 2014 20

Business

Did A Toronto Developer Steal Buyers’ Deposits And Flee To Korea?

It looks like he did.

This story is just starting to break, and even though not all the facts are in yet, it’s looking like a lot of pre-construction condo buyers are going to lose their deposits, and a Toronto lawyer is going to be in major trouble for allowing a developer to access funds that were in trust.

I’m not going to pat myself on the back here and suggest that this is yet another reason why you shouldn’t purchase pre-construction condos, since this is the first I’ve heard of this happening.

But if it can happen once, perhaps it can happen again…

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August 20, 2014 5

Business

What “Rules” Prohibit Realtors From Speaking Their Minds?

A blog reader and I have been emailing back and forth for the past week about a house for sale in the west end that is on an “auction site.”

The both of us can’t believe that somebody would put their largest asset up for sale via this medium, and I told him that I’d love to blog about the site, the property, and the process, but I can’t, since the property is listed with a registered brokerage.

There are certain rules I cannot break, as real estate is a regulated industry.  I talk a lot about things I can’t do, and things I can’t say, but let me show you exactly where these rules are, and what they detail…

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August 18, 2014 8

Condos

Combining Multiple Condo Units

I’ve seen this done countless times, but I have never seen it done effectively.

I’m sure there’s an old adage, or a saying, that explains something to the effect of, “It’s best use is for that which it was intended.”

Well, when it comes to condominiums, they’re usually most functional when they’re stand-alone, and not when a buyer decides to combine multiple units into one.

Why?  Well, because in the end, they always feel like they’re multiple units combined into one!

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