Housing Prices Update, A Lego Contest, and a Pizza Promo 🍕🥗😋!

February 2021

Dear ,

In this month’s newsletter, we’re bringing you:

  • Housing Prices through the Roof. When will it slow down?
  • Wanted: Homes Like These For Our Buyers
  • Lego Home Building Contest! We supply the Lego, you build the house!
  • Pizza on us! Dine at this local Pizzeria and we’ll buy you pizza!
  • Great New Properties for Sale & Rent

Housing Prices through the Roof!

At this point, you’d have to be living under a rock if you haven’t heard that housing prices are going through the roof (no pun intended) here in the Greater Toronto Area.

By end of December 2020, Re/Max was suggesting housing prices in the GTA would increase by 6% by end of 2021. Then the Canadian Real Estate Association forecast that there would be a 16% increase in Ontario prices by end of 2021. In January, The Toronto Regional Real Estate Board reported that prices of detached homes in the “905” suburbs had increased by 35% year over year. This growth is simply not sustainable. “Bubble territory” is a term that’s being bounced around a lot these days.

What’s triggered this growth? The lockdowns have caused a huge change in how we use our houses, which has triggered many Toronto home owners or renters to move to the ‘burbs where they can get more house for their dollar. Longer commute times aren’t an issue if there is no commute to be made! Plus, mortgage interest rates are super low.

What will calm these prices down? With a federal election in the works in the next year or so, and other areas of the economy not doing as well as housing, the Feds will be reluctant to raise our currently low-interest rates. So government intervention - which is what triggered the housing market cool-down in 2017 - is unlikely this time around.

The City of Toronto recently voted against raising land transfer taxes for homes priced over $2 million. LTTs in Toronto are already higher than taxes in any other city in Ontario, so that will be a relief to people looking to stay within the 416 and will do nothing to temper current home-buying enthusiasm.

Some analysts predict that the market will eventually experience “buyer fatigue”, meaning that some potential home buyers may simply get tired of competing and decide to put their home purchase plans on pause for a while. But when this will happen will be anybody’s guess. Further, while buyer fatigue may stabilize prices, it's unlikely to lower prices in the new future.

Toronto Condos are the only housing types that got “affordable” in 2020, but analysts anticipate these prices will increase by 5%-7% in 2021. When this pandemic is over, the rental market will improve which will get investment condo buyers excited.

Want to know what your home is worth? Click here!

WANTED: Homes for our Buyers!

Thinking of selling your home? You’re in luck! We have Buyers! Here are descriptions of homes that a few of our buyers are looking for right now. If you are thinking of selling in the next year, please let us know!

Susan Taylor Group Supports Dining Locally

 

Promotion Extended!!! Please support our local shops and restaurants. Pick up dinner from Station Pizza Parlour & Spaghetti House in Markham Village and get a free small pizza, appetizer, or regular-sized salad courtesy of Susan Taylor Group! 🍕🥗😋 Valid on weekdays until March 31.

 

 

There’s a housing shortage in Markham & Stouffville and we NEED YOUR HELP!


Susan Taylor Real Estate Group and Olivia Waye of CIBC will supply the building materials, YOU supply the engineering genius!

We’ll be supplying boxes of Lego to families that are ready to build. It’ll be a 484-piece set of assorted Lego, so you’ll have ample materials to let your creativity flow! Build the BEST HOUSE EVER by Thursday, March 18th (using only the Lego blocks from the box provided!).

Post pictures of your family’s Lego house on your social media page and tag it #legohouseSTG by end of March 18th. Our executive judges panel will decide on the best houses. The top two builders will be awarded gift cards for the LEGO Store.

How to participate? Start by following us on Facebook, Instagram, LinkedIn (or all three)!

Then message us by Wednesday, February 24 that you’d like to participate. We’ll reach out to coordinate the delivery of the box of Lego to your home the first week of March.

This contest is open to families situated in York Region, Durham Region, and East Toronto. We encourage only families with children to participate. 😊

 

Managing an Executive Transfer in One Week and During a Lockdown? We Got This!

Susan and Jessica were a pleasure to work with in my search for a new home in the GTA. My family was moving to Ontario from out of province, and due to quick occupancy dates for my old home, we were only left with a period of 1 week to find a new home in the middle of a pandemic. Finding the perfect home was no easy task, especially with my wife’s high standards! However, Jessica was up to the task, as she showed us over 30 homes in a 1-week time span. On the last day, we eventually found a beautiful detached house in Newmarket that my family now calls home. We have to thank Jessica for putting in the extra hard work and research for us throughout the search and negotiation process. We also appreciate the trips she made to the property on our behalf for the inspection, since we were not in town.

If you are looking to purchase a new home in the GTA, I would highly recommend Susan and Jessica for your realtor needs. Jessica is friendly, professional, knowledgeable, prompt, and quite honestly, one of the hardest working people I’ve met. In fact, I personally referred Jessica to my parents in their most recent search for a new home, where Jessica repeated her efforts. After just a few days, my parents’ impressions and sentiments towards the Susan Taylor Real Estate Group mirrored mine.

----Jonathan Tung, Newmarket

 

 

 

Homes for Sale and Rent

14 Somer Rumm Court - For Sale

Luxurious estate home built on 1/2 acre premium lot in a prestigious Ballantrae Community. Open concept main floor, gourmet kitchen with centre island, built-in appliances, stone counters and backsplash. Dining room with coffered ceiling open to above makes it truly feel very special. All furniture and decors included! Just Move-In!

Asking: $2,188,800

116 Sandfield Drive, Aurora - For Sale

Fantastic 3 bedroom, 3 bathroom freehold townhome in prestigious Aurora highlands. This well maintained open main floor layout has hardwood in the living room which overlooks the eat-In kitchen featuring newer appliances including gas range! Walkout to patio and fully fenced yard. This house is beautifully renovated.

Asking: $875,000

9560 Markham Road, Suite 509 - For Lease

Spacious 1+1 bedroom open concept apartment, featuring wide plank floors throughout, kitchen with quartz countertops, glass backsplash, stainless steel appliances, and ensuite laundry. Master bedroom with large double closet. Den can be used as a private office. Unobstructed east-facing balcony, great place to see the sunrise!

Asking: $1850/month

 

12 Sage Brush Street, Coach house - For Lease

 

Open concept studio apartment for lease in Cornell Rouge, Markham (16th Avenue & Donald Cousens Pkwy). New hardwood floor, kitchen with fridge, stove, and microwave, breakfast bar and counter with double sink. Laundry closet washer & dryer.

Rent includes utilities, basic cable tv, and 1 outdoor parking spot. (Part Furnished or Unfurnished).

Asking: $1475/month

 


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Susan Taylor Real Estate Group, 72 Copper Creek Drive, Unit 101B, Markham, Ontario L6B 0P2 Canada

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