Welcome to my blog on housing, culture and design in Toronto, with a particular focus on real estate.
Are you finding navigating every day challenging, like us? On the heels of an unprecedented 2020, many of us faced further hardship in 2021 as individuals and global citizens. Amidst mental, emotional, and physical exhaustion, and a recent regression into closures thanks to yet another Covid variant, we are doing our best to focus on the positive. We are still here, after all. And if there’s any time on the calendar when we should feel hopeful and embrace opportunity, it’s the start of a New Year!
An optimistic cheers to 2022!
I love January because the lens by which I view the year ahead is one for fresh, new beginnings. For the Urbaneer Team it’s an opportunity to refine and elevate how we execute a business that we love. Like many companies pivoting since the first lockdown in March 2020, we have adapted to the changing environment and created effective programs and Covid protocols to serve our clients amidst significant restrictions. Not only have we tackled the challenge of facilitating the trade of real estate within a culture of isolation and masks, but we’ve adapted our business to serve both the traditional model of in-person property sales and marketing and the growing pool of out-of-city Buyers who are purchasing Toronto real estate remotely and digitally. In fact, almost every listing we’ve sold recently included at least one offer from a Remote Buyer who offered sight unseen from a location other than Toronto. And one reason for this is because our comprehensive custom digital Sales Prospectus & Due Diligence Packages are so jam-packed with information we’re able to successfully convert Remote Buyers into Property Purchasers.
This past year we’ve maintained our commitment to service, to excellence, and to making the selling process as stress free for our clients as possible. Although it’s “easier than ever” to sell property in Toronto if you’re willing to accept the first offer from the first Buyer, how do you know if you are garnering its true market value in a city that has tremendous demand? Furthermore, what if it’s important to you – as the Seller – to find a Buyer who might accommodate other important factors, such as assuming your long-term tenant? Or perhaps you’d like to place a young family in the neighbourhood who will appreciate all the local amenities your own children enjoyed while you raised them in your home? Our approach doesn’t take longer, nor is it more difficult for our clients, but it involves a lot more time, energy and engagement by us to serve you real tangible results. How? We create a comprehensive listing program that allows Sellers to consider offers from several prospective Buyers so they can choose the bid that best aligns with their objectives. And we do this in a timely efficient manner with as little disruption to the quiet enjoyment of the Seller and/or the tenants while personally ensuring every individual who crosses the threshold is following our exacting Covid protocols.
There are multiple reasons why it’s more difficult than ever to pre-determine how much a dwelling might sell for. And it’s mostly because today’s pool of Buyers can be located anywhere in the world, and their reasons for purchasing can vary dramatically. Right now our market conditions include, but are not limited to, the flow of global capital, real and stress test interest rates, and the effects of quantitative easing as it’s fueled our asset-based economy; our current and anticipated government policies that foster and tax homeownership and capital gains, foreign buyer and local investment or speculation; the opportunities and constraints of the property type itself based on its location, size, condition, zoning and highest and best use within the current supply and demand framework; the expectations of the Seller based on necessity, motivation, and personal attachment; in addition to the desire of the informed prospective Buyer pool shaped by the limitations of their income, down payment, and potential future earnings or inheritance, in addition to their motivation to lock down a dwelling in the central core of Toronto, particularly if they live in a location impacted by political, environmental, social, and/or economic instability. And this is over and above the unique conditions wrought by a global pandemic with emerging variants that, both unexpected and unanticipated, present a heightened level of unpredictability.
In 2022, our goal is perfect our new strategies, tailor our marketing program a la minute to changing conditions, and continue tracking the unique real estate trends that are the result of the pandemic. And, in the spirit of optimism, we will execute this with our eyes on the future when we can celebrate in-person the gratitude we have for our liberal progressive distinctly-Canadian lives.
In our Urbaneer blog, we always endeavour to bring you informative and engaging housing, design, and culture content that is timely, easily digestible, and relevant to you. The pandemic continues to drag on – longer than anyone imagined – and, as a result, we’ve amassed a robust collection of blogs about the intersection of COVID-19 and Toronto Real Estate. It covers a myriad of subjects, including our percolating ideas and predictions on how the shelter industry will evolve in response to the pandemic.
Even though we currently live under the clouds of Covid and its shadow, we also create blog content that celebrates both the resilience of Torontonians, the amenities we can find solace in, and gratitude for how fortunate most of we Canadians are.
So, to kick-off 2022, we are sharing the Top 5 Most Popular Urbaneer Posts of the past year, which are truly a mixed bag!
Check out the top 5 below!
#1 The Affordability Conundrum For Toronto House Buyers: Location, Condition & Costs
Houses in such disrepair that they are rendered uninhabitable usually require an immediate cash injection of at least $300,000+. Given that, the ‘prize’ amongst Toronto Buyers isn’t the teardown or the immaculate manse; it’s the house that needs enough work to be discounted but is still sufficiently livable. That way, from Day One of moving in, whatever savings that are remaining after purchasing the house can attend to all the immediate and future scope of work. Unsurprisingly, finding a house that fits these criteria – and acquiring it – is truly rare. Let’s talk about Toronto’s aging housing stock, skyrocketing home prices, and the question of ‘value’.
#2 Dear Urbaneer: Why Are There Bidding Wars For Toronto Real Estate During The COVID-19 Pandemic?
From my view in the real estate trenches, I have been witnessing more and more bidding wars emerge, with prices escalating rapidly. However, bidding wars are nothing new in Toronto and have been a regular occurrence for over a decade in the freehold housing market which has long suffered from an imbalance between its limited supply and exploding demand. But within the context of a pandemic, this carries a slightly different storyline. So, what is it about COVID-19 and living through a pandemic that has created such momentum in the market to fuel bidding wars and precedent-setting prices?
#3 Toronto’s Terrific Trinity Bellwoods Park
Greenspace has always been important for mental and physical health, but during the pandemic, having access to green space is even more crucial! This is particularly true if you are a dog owner. Trinity Bellwoods is one of Toronto’s top 3 parks (according to me!) and offers great green space with tons of amenities for all ages, stages, and interests. This vast park expands over 14.6 hectares and has a plethora of areas for outdoor activities. Here’s why we love it!
#4 What Toronto Real Estate Buyers & Sellers Should Watch For In The 2021 Federal Election
I’ve had the opportunity to witness and participate actively in the fashion and trends of real estate development, while honing my expertise to specialize in niche areas of the market- in particular, the evolution of the Innovative Space market including the adaptive reuse of non-residential buildings into loft conversions. Both hard and soft lofts have distinct industrial and urban attributes – exposed brick, concrete floors/ceilings, exposed ductwork, large factory windows, etc. – that are extremely coveted by downtown dwellers, which is why units in loft conversions always garner a premium! In this blog we offer the history and composition of eight of Toronto’s largest, most sought-after buildings.
#5 Going East: A Toronto Real Estate Exodus To Atlantic Canada
As the K-shaped economy reveals the inequities that inherently exist within our economy, and the pandemic exacerbates these differences, those privileged to own Toronto real estate have been able to take advantage of low-interest rates, the freedoms associated with Working From Home and skyrocketing real estate values spurned by blind bidding wars, to reevaluate their priorities. The pandemic has invited those who can and choose to initiate the next chapter of their lives – however that might be defined – to make haste. The result? Over the past year, a lot of people have sold their existing dwelling and purchased a new one, often in a location that is different than they may have otherwise chosen pre-pandemic – in a new neighbourhood, outside the city, or even across the country! This is a story of one such exodus!
We are so grateful to be part of the Toronto real estate industry! Thank you for your continued trust and support!
At Urbaneer.com, we LOVE what we do, and consider ourselves most fortunate, both to be in the business that we are and to have the amazing clients that we do. The Urbaneer team makes it our mission to guide you from your first to final purchase, plus any property in between. Along with educating, advising and gently steering you, our mandate is to identify the best locations and properties within your budget and recommend the appropriate dwellings that offer the best opportunity, whether it’s as a personal residence or part of your investment portfolio.
Thinking of selling? At Urbaneer.com, we take great pride in offering you our insight and guidance to make your property the most ‘sellable’ it can be. Offering a comprehensive sales and marketing program including print ads, direct mail flyers, and a multi-faceted social media program, we also offer a design service, access to contractors, and a warehouse of home furnishings available as part of our competitive listing commission. We are your one-stop real estate boutique that will pull out all the stops to enhance your property and attain top dollar.
If you, or someone you love, is looking for real estate expertise with a commitment to service, please know we’re here to help!
With decades of experience navigating the ever-changing Toronto real estate market, a commitment to promote the sale of properties like yours with interesting and relevant information, and the ability to guide Buyers with credible insights and well-informed guidance, we are here to help without pressure or hassle.
Thanks for reading!
-The Urbaneer Team
Steven Fudge, Sales Representative
& The Innovative Urbaneer Team
Bosley Real Estate Ltd., Brokerage – (416) 322-800
– we’re here to earn your trust, then your business –
Celebrating Twenty-Eight Years As A Top-Producing Toronto Realtor
*Did you know we were recently listed as one of The Top 25 Toronto Real Estate Agents To Follow On Twitter! – The Top 50 Blogs On Toronto – and The Top 100 Real Estate Blogs In Canada? Consider signing up in the box below to receive our FREE monthly e-newsletter on housing, culture and design including our love for unique urban homes and other Toronto real estate!
*Love Canadian Housing? Check out Steve’s University Student Mentorship site called Houseporn.ca which focuses on architecture, landscape, design, products and real estate in Canada.