Toronto Condo and Real Estate Blog

CBC News

Stronger exports in February helped push Canada’s trade surplus up by more than $2 billion to $4.9 billion, Statistics Canada said Thursday.

February’s surplus was the largest since May and exceeded analysts’ expectations by a wide margin. The market had been anticipating the surplus would widen to $3.4 billion.

Canadian companies exported $39.3 billion worth of merchandise in February, up 3.8% from January.

Merchandise imports fell two per cent for February to $34.4 billion, the first decrease since October.

Despite the run-up in the Canadian dollar to hover around par with the U.S. dollar, Canada’s trade surplus with the United States soared to $8.1 billion, the biggest surplus in more than one year. Exports to the U.S. rose by 3.6%, while imports retreated 3.4 per cent.

Canada’s trade deficit with countries other than the United States fell to $3.2 billion on higher exports to Japan and the European Union, particularly the Netherlands and Italy.

Analysts said it shouldn’t be expected that Canada’s surplus will keep growing.

“With the U.S. economy showing all the signs of a protracted economic slowdown, results like February’s should be greeted with celebration, because it may be some time before we see them again,” said TD Bank economist James Marple in a commentary.

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Contact the Jeffrey Team for more information - 416-388-1960

Preview sales events have been announced for the following sales centres. As always, with these types of events, you must register with us and accompany us to the sales centre to be able to purchase. Some are even offering discounts to our clients. If any of these projects interest you, just let us know and we can give you all the information.

The King East
Coming Soon to King and Parliament from the Sher Corporation, Lamb Developments and Hyde Park Homes: The King East Designer Condominium. Register with me now for your chance to buy before the public at an exclusive VIP sales event.

The King East will be a 14 storey tower located at King and Parliament in the heart of the design district that dominates King St. East. Just steps away from great neighbourhoods like the St. Lawrence Market, Corktown, and the ultra-hip Distillery District, The King East will offer suites from the $200’s to $1.7 million.

Designed by the award winning Core Architects, The King East is partly intended to be something of an homage to the greatest designers of the modern era of design.

The Mansions on Jarvis
Fully restored. Fully revitalized. Each of the 34 condo and town home units promise graceful designs, stone countertops, hardwood floors, balconies, patios and rooftop terraces. The Mansions at Jarvis is almost complete and the legacy of the Jarvis Mansion District Lives On.

Located on Jarvis, South of Bloor and North of Wellesley. Builder: Penterra Federated Properties Corp. 13 condominium units in a 100-year-old renovated mansion, 10 new construction stucco garden condominium townhouses with 11 penthouse units above. Prices: (parking and included): from $469,990 for 1,263 sq. ft. to $599,990 for 1,792 sq. ft. Fees: from $349 or $378 per month, plus heat and hydro.

Aura at College Park (College Park Phase 3)
The Long Anticipated public Launch of AURA At College Park Has Arrived. This 75 storey tower of glass will soon emerge at the vibrant corner of Yonge and Gerrard and is destined to be the landmark condominium building in all of Canada.

We are pleased to offer you an opportunity to purchase in this landmark building before the general public.

A wealth of superior finishes adorn each suite.  Standard finishes include sophisticated wood flooring, gourmet kitchens with the finest quartz countertops, stainless steel appliances and even a wine fridge to chill your favorite vintages.

A great selection of terrace suites, lofts, 2 bedroom, 2 bedroom + den and 3 bedroom suites are available starting from the $400,000’s to $900,000’s.

Couture by Monarch
Monarch will introduce a fashionable, exclusive condominium at Bloor and Jarvis – one of Toronto’s hottest locales. Couture - The Condominium will be within walking distance to the haute couture of the Bloor-Yorkville area, and the exciting clubs and restaurants along Church Street.

Couture will rise to a stunning 44 storeys. Suites at Couture will range in size from 557 to 977 sq. ft.

The impressive design team for Couture includes renowned Mike Niven Interior Design Inc. The condominium’s 459 suites will provide the “in crowd” with fabulous surroundings, beginning with the chic, modern lobby, where 24/7 concierge service and a variety of peace-of-mind features will be based. Two designer-decorated guest suites will be available for overnight guests.

Monarch is a member of the Canada Green Building Council, and exhibits a sincere sensibility to all things Green. Energy-efficient features at Couture will include ENERGY STAR-rated appliances; low-VOC, washable and non-yellowing paint; low-emission laminate flooring; individual suite metering of hydro consumption; a Carbon Monoxide detection system designed to minimize the operation of the exhaust fans in the parking garage; Indoor Air Quality certification for suite carpets by the Canadian Carpet Institute under the Carpet Testing Program; water-saver low-flow showerheads and lavatory faucets; energy-saving compact fluorescent lamps; an automated recycling collection system; and much more.

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Contact the Jeffrey Team for more information - 416-388-1960

Canadian Real Estate Association addresses recession fears

The Canadian real estate market is not on the brink of collapse and is expected to have balanced conditions in 2008, and real estate agents need to get that message out.

Analysts continue to suggest the Canadian real estate market will follow the same path as the United States. Recent events including use of the word “recession” in the U.S. and record swings on the stock market, have generated media speculation about a similar downturn in the Canadian market. In February, the Canadian Real Estate Association issued a news release to try to counteract the negative press with a dose of “economic reality,” in the form of market numbers and facts.

In a letter to boards and associations, Canadian Real Estate Association President Ann Bosley said the statistics show the future of the residential real estate market in Canada is solid. “However, the problem is that the analysts views could become self-fulfilling and the greater the predictions of gloom, the greater the impact on the Canadian real estate market.” Bosley encouraged boards to get the message out to brokers in order that they may in turn share the information with clients.

In addition, the interest rate cut announced in March by the Bank of Canada will help Canadian home owners and buyers, though it is an acknowledgement that the U.S. economic slowdown was likely to be deeper and more prolonged than the Bank had projected six weeks earlier, said Canadian Real Estate Association President Ann Bosley.

“When the Bank decided to lower interest rates, the advertised five-year conventional mortgage rate stood at 7.29 per cent. This is less than one per cent above where it stood at the beginning of last year. Competition among mortgage lenders remains stiff, which continues to help many borrowers negotiate discounts from advertised rates.”

Declining interest rates and a rebound in economic growth are factored into the Canadian Real Estate Association MLS 2008 market forecast. “MLS sales activity will stay strong and reach the second highest level on record this year. Residential MLS prices are also expected to continue rising. Additional cuts to mortgage interest rates are good news for housing affordability and Canadian housing demand,” the Canadian Real Estate Association’s chief economist Gregory Klump added.

Other key players in the real estate market are painting a positive picture for the economy in 2008 with Scotia Bank expecting “balanced conditions will prevail throughout 2008, which will mark a return to a more ‘normal’ environment than the highly skewed seller’s market that we have experienced over the better part of this decade.”

The Canadian Real Estate Association maintains “domestic economy and the housing market will weather the sub-prime fallout with the help of lower interest rates,” Klump said.

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Contact the Jeffrey Team for more information - 416-388-1960