In yesterday’s “Listing of The Day,” I featured a unit at The Rio @ 253 Merton Street, which is one of three identical buildings on the street.
Prices have risen dramatically at virtually every building on the street, which begs the simple question: Why?
There are three reasons: Location, Location, and…..well….you know how the saying goes…
For years, the “Dominion Coal” towers stood five stories in the air at the corner of Merton & Mount Pleasant, and were a recognized landmark for anybody who grew up in the area.
When I was a kid, I used to get the sand for my sandbox at a lumber yard on Merton Street. My school teacher got his car fixed at an automotive shop on the same block.
Today, those landmark Dominion Coal towers are gone, with a brand-new condominium in their place, and the rest of Merton Street has gone from being an industrial park to one of the hottest real estate pockets in Midtown…
“Yeah this building is great, but does it have a POOL?”
“Well, would you actually use the pool?”
“Maybe…maybe not….but I still want this building to have a pool….”
No, seriously….this property is listed for LEASE at $25,000 per month.
With 6000 square feet of luxury living, this is starting to sound more and more like a STEAL!
I’m rolling my coin tray as we speak…
“INTEREST RATES!”
Do those two words send a shiver up your spine?
Most people fall into one of two categories: 1) Those that have a mortgage, 2) Those that don’t….yet.
After yesterday’s modest 260-point decline in the S&P/TSX Composite Index (that’s pennies compared to Tuesday’s 400-point decline!), it gets people thinking about the economy, the Canadian Dollar, and of course, Interest Rates…
Remember when you were a kid, eating Rockets & Fizzies everyday at recess for weeks after Halloween?
“The Candy Factory Lofts” at 993 Queen Street West got its name because this century old building was once the Cede Candy Co. Factory!
With the “Chocolate Lofts” just down the street at 955 Queen Street West, surely this is the yummiest section of real estate in all of Toronto…
“David, is everything alright?” asked two concerned agents as I shouted “Bwwaaaah!”
“Uhhhh…..huh….” I replied as I could barely muster out any words.
Here are some words:
Shocked.
Amazed.
Dumbfounded.
As I logged on to www.torontomls.net this morning and checked the previous day’s solds, I absolutely GASPED aloud for everybody in the office to hear, as I saw what 144 Barker Avenue sold for…
What is the definition of a “bidding war?”
How does it start? What series of events has to take place for a bidding war to break out?
As I write this at 8:30PM on Tuesday evening, a bidding war is taking place.
Let me tell you how it started, and how I expect it to finish…
Imagine years ago, telling people that one day you would pay almost a half-million dollars to live in a semi-detached house near Eastern Avenue & Carlaw Avenue.
It might not have made sense back then, but today, bidding wars are breaking out on a regular basis, and homes are scarce.
Welcome to Leslieville, one of the hottest real estate pockets in Toronto!
Here’s a statement a friend made to me the other day: “$600,000 for a semi-detached house in East York? That’s insane!”
I informed him that Victor Avenue may be east of the D.V.P., and may be in the Metro East real estate district, but certainly there is a difference between East York and Riverdale!
“Riverdale,” he questioned. “It sounds like something out of a movie!”
Well, perhaps it is…
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