Client Testimonial

Great video testimonial from our client Marcel Kars.

Click on Icon Condo to view!

Icon Condo Availability

Currently there is a great 2 bedroom unit on a high floor with both parking and locker. This is a corner unit, just under 1400s/f with a terrace. Priced at just under $730 000, this unit is great for a young family or the young professional looking for some more space at home.

Click on Icon Condo for more information or to book a showing.

One Bedroom plus Den Unit Available

Currently there is a one bedroom plus den unit without parking and locker located for sale in The Icon.

Click on Icon Condo for more information and pricing or to view the unit.

June Market Update

The GTA saw 10,230 sales in June, up 21% from last June making it the 3rd best June on record. This is quite the turnaround from the first half of 2011 - down by 4.5% compared to the first half of 2010.




Average prices for June was $476,371, up by about 9.5% from June 2010 and up by about 8% from the average selling price for the first half of the year at $467,169.



Listing supply is down this year which is why we are seeing the average price increase. Buyer demand has pushed this price up in the second quarter of the year.







* Toronto Real Estate Board, New Release, July, 2011.

World of Condos Interview

The Condo Chicks were recently interviewed on our condo knowledge.

Check it out and enjoy!

Click on Icon Condo for more information on The Icon Condo on Wellington

Testimonial for Listing Sold at Icon

“Joy and Erica have been so incredible to work with.  They are very professional, knowledgeable about the market, ever so helpful, and have gone out of their way to assist us.  They made the process of selling our home seamless and even, dare I say, easy which was greatly appreciated since we are currently living in Dubai.  They were able to secure an offer for us within two days of listing and when that fell through due to buyer financing, they immediately found us another offer the same day!  However, what most impressed us was their responsiveness, proactive nature and simply dazzling niceness.  The Condo Chicks are definitely something to chirp about!”  – Mike and Jeanette

TV Interview

Click on TV Interview to see the Condo Chicks being interviewed!

SOLD

Our listing at the Icon listed at $315000 with both parking and locker is now sold and we got 100% of asking price!
Contact us for more information on buying or selling your Icon condo!

TV Interview

We are pleased to announce that we will be interviewed this Monday, April 18th, 2011 at 9pm on the TV show “In Tune with Real Estate.” From what we understand, it will be on channels 10 and 63.  We will be asked about the condo market in general as well as other aspects that come into play when buying or selling a condo. Make sure you “tune in” to see what we have to say!

New Listing in The Icon: $315 000

We have a great new one bedroom with both parking and locker in 250 Wellington Street West. Parking spot has a prime location close to the elevators!  Click on Icon Condo for more details and pictures.

New Listing in The Icon

The Condo Chicks will be listing an incredible one bedroom unit in 250 Wellington Street in the next couple of days. Located on a high floor, it also has both parking and locker. Click on Icon Condos for a showing.

Enter our Contest and Win a GREAT Prize!

Tips on Selling your Icon Condo

The current real estate market condition in Toronto is starting to pick up for sellers. The market early last year proved to be a strong seller's market with condos sitting on the market for only a few days before selling. The market today is definitely starting to pick up just in time for spring. In the meantime, it's more important than ever to put the extra effort in when selling your Toronto Condo.


Here are a few tips when selling your condo in Toronto:



1. If the unit is vacant, staging can have a positive effect as it can help potential purchases visualize how space can be utilized.



2. If the unit is occupied it is extremely important to keep the space tidy. Surfaces should be clear, washrooms should be clean and dishes should not be in the sink.



3.It is to the sellers benefit to remove any paintings or objects with religious meaning. A simple religious object can limit potential buyers.



4. Be flexible with showings. If people can't get into see your unit, how can you expect it to sell?



5. If you are home when a showing is booked, step out of your home. Potential buyers will feel like they can't talk freely with their agent and will feel pressure to look quickly. You want showings to be a pleasant and comfortable experience.



6. Restrain pets. Even though Snoopy may be really friendly, a lot of people are scared of dogs.



A few little changes can make a huge difference when it comes to selling your home. A little more effort can set you apart from your competition during these market conditions.

Click on Icon Condos for more information!

Condo Chicks with an Award

BuzzBuzz Home presented The Condo Chicks with an award for being the most active in their forums!

New Mortgage Rules when Buying an Icon Condo

Finance Minister Jim Flaherty has just released some info on new rules for CMHC insured mortgages, which will be implemented as of March 18th. A CMHC insured mortgage occurs when less than 20% is put down on a purchase of a property.


For home buyers with a CMHC insured mortgage, the new rules will effect mortgage amortization. Amortization will be changed from 35 years to 30 years. On average this change will increase monthly payments by around $40 for every $100K borrowed. Down payments for purchases can still be 5%.

In terms of refinancing, the max mortgage advance will be 85% of the appraised value. This loan to value number used to be 90%.

Good news is that these new mortgage rules will help to keep interest rates low. The Bank of Canada has announced no prime rate change, leaving variable rate mortgages and credit lines as is. Flaherty hopes these new rules will help to keep Canadians spending in check.

We have about 2 months before the new rules come into play (March 18th). If you are looking to purchase a Toronto condo, make sure to visit the bank or your mortgage broker soon to arrange financing. Contact the Condo Chicks below in you are looking to purchase or sell a Toronto Condo.

Process of Buying a Condo

Purchasers, first-time home buyers especially, generally lack the knowledge to determine what they can afford when it comes to buying real estate and how the purchasing process actually works. Here is a step by step list on how the condo purchase process works:

1) Start by getting pre-approved by your bank or a mortgage broker. Knowing what you can truly afford gives you a starting point and a price point to search within. After all, it would be very disappointing to find a home you love only to find out it is not within your financial means.

2) Find a Realtor (Real Estate Sales Representative) you trust! This is very important as you will be sharing personal information about yourself with them. Talk to your Realtor about what you are and are not looking for in a property.

3) Now the fun begins. Once you’ve been pre-approved for a mortgage and you’ve found your trusty realtor, your realtor will then begin showing you properties of interest.

4) While on the showings, scrutinize each unit. Think about the location, building amenities, the potential future value, the unit layout and of course the price.

5) Once you’ve found the unit you would like to purchase have you Realtor research what the unit is actually worth and carry out their due diligence.

6) Now its time to make up the offer. Have your Realtor go through the offer with you. You may also want to have a lawyer review it.

7) Your Realtor will then submit the offer to the Listing (Selling) Realtor who will then contact the seller to review the offer. The other party has a set time period, called the irrevocable date, to either sign back or accept the offer. Within this irrevocable time, the buyer is held to the agreement. If the irrevocable date passes without contact from the seller, the deal dies and neither party is held to the agreement.

8) Once the buyer and seller have come to an agreement regarding the price and conditions the deal is now either sold firm ( no conditions) or sold conditionally ( usually conditional upon arranging financing or lawyers review of the status certificate). If sold conditionally, the buyer then has a certain time frame, as set out in the agreement of purchase and sale to waive the conditions. Once the conditions have been met, the buyer signs a waiver which then makes the deal firm.

9) On occupancy is when the buyer and seller meet with their respective lawyers to exchange the property keys for payment. The title of the property is then switched over from the seller to the buyer and the buyer is then given entry and ownership to the property.

Buying real estate is an exciting process. It can also a stressful and complicated process so it’s important to hire a Realtor you trust. After all, buying real estate is one of the largest investments you will make. For all your real estate needs, contact The Condo Chicks!

SOLD: 270 Wellington: $334,500

The Condo Chicks recently sold their 1 bedroom plus den listing with both parking and locker in The Icon. As the market is softer, it took a bit more "creative selling" to get this unit sold for our client. At the end of the day, our client is very happy! Listed at $334,500, The Condo Chicks got just shy of asking! 

If you are looking to sell or to buy a unit in The Icon, contact The Condo Chicks!

Multiple Offers

With the current real estate market in Toronto steady, the presence of multiple offer situations is still common. Sellers are looking to generate multiple offers in order to sell their property at very high numbers. When entering a multiple offer situation buyers have to remember that looking at comparable properties is a very important step when determining what number to go into. A lot of listing agents are holding off offers in order to hopefully generate multiple offers. We always make sure to tell our buyers to choose a number that they are comfortable with and stick to it when entering into a bidding war. Too many times, we have seen buyers represented by other agents end up paying way too much for a property which is generally attributed to emotions, not facts. In the long run, it is not worth it.




Recently we were in a situation where the listing agent had listed a property above market value, hoping to create a multiple offer situation. After reviewing the comparables with our clients, we came up with a number that we felt was fair for the property. Unfortunately, we did not win the property, nor did any of the other offers that were submitted. Ironically, the listing was terminated the following day due to the fact that nobody was willing to over pay for the property. It will be interesting to see if the property comes back on the market at a more reasonable price.



Our advice to you when entering a multiple offer situation is to review all the comparable properties, and determine what the property is worth to you.

1+1 with Parking and Locker now $334 500

Furniture is negotiable! Contact the Condo Chicks for a showing! http://www.condochicks.com/

Annual General Meeting

Don't forget the Annual General Meeting being held Tuesday, November 16, 2010 at 7:30pm.