Tag Archives: dream home
South Annex
The South Annex neighbourhood was subdivided in the early 1850′s, on land formerly owned by the Jarvis, Crookshank and Denison families; all of whom played a prominent role in the history of Toronto.
The South Annex is a vibrant and colourful downtown Toronto neighbourhood. Much of the South Annex’s vitality comes from being located right next door to the University of Toronto.
Naturally, many University students, faculty, and alumni rent or own houses in the South Annex. The University population mixes well with the young urban professionals who have been buying and fixing up South Annex houses, giving these old houses new life, and in the process revitalizing this historic Toronto neighbourhood.
South Annex Real Estate Map
The South Annex neighbourhood has long been overlooked by Toronto homebuyers. Those who had the foresight to buy homes here in the past are now been richly rewarded as this neighbourhood is now in big demand.
South Annex is appreciating at an alarming pace – some properties south of Bloor are now going for over $1 million. This would have been unheard of a few years ago. Being in the heart of the U of T district, this area will always maintain its value and continue to exceed most other neighbourhoods.
Sales in the South Annex tend to be few and far between, as inventory is tight. This lack of supply coupled with great demand is one reason why home prices in this neighbourhood are on the rise. An average of only 2 semi-detached and rowhomes sell in a given month – for just under $1 million. Maybe one detached house sells every two months – and such rare and premium properties sell for close to a million and a half.
Home buyers are flocking to the South Annex neighbourhood for many reasons. The area attracts people looking to be within walking distance of shops, cafes, Harbord Village, Chinatown, Kensington market, Korea Town, JCC, U of T, excellent schools, the ROM, book stores, fine dining etc. There are lots of large single family homes for those with big families looking for a sense of community, as well as professional couples looking to start a family in this vibrant neighbourhood. There are also many investment properties in the area, which makes sense given the large and ever expanding U of T student population.
Houses in the South Annex
South Annex homes tend to sell in two to three weeks. Since there is never much available, it does not stay on the market for long. Housing stock is mixed with single family, duplex and multi-unit homes. The South Annex has a strong appeal to buyers due to its strong resident’s association and community involvement.
If you love Victorian architecture you will love the South Annex – which is chalk full of character homes. Interior details include high ceilings, stained glass windows, beautiful fireplace mantels, plaster mouldings and ceiling medallions, tall baseboard trim, radiators with scroll designs and hardwood floors. Exteriors are defined by Victorian gables and some houses have front porches and maybe even an original slate roof.
Public transit is always close by so you don’t need a car. However, many homes come with some form of parking whether it be a driveway or parking pad, or even a laneway at the rear. There is also permit parking available with certain houses on specific streets, but this is best to check with the City first.
If you’re planning on buying a home in the South Annex, do your homework. Have your financing in place and be ready to go when your dream home comes on the market – you will not have long to make a decision and move on it. Be diligent about home & termite inspections, be aware of where the house is located (on a heritage designated street, next to student housing, near a main street or bar).
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Contact the Jeffrey Team for more information – 416−388−1960
Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
They did not write these articles, they just reproduce them here for people
who are interested in Toronto real estate. They do not work for any builders.
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Stop Toronto’s bidding wars
Rachel Sa – Canada.com
Here’s a lil’ tip for you, Toronto homebuyers: Want to stop bidding wars in this city? Don’t get into one.
Sure, that may be more easily said than done, especially when you’ve checked out a possible new home and gone all googly-eyed over the granite countertops or the original wood trim or, that rarest of all Toronto real estate finds, the backyard.
Comment: But that makes no sense. If you want – or need – a house, you have no choice. Listings are so low, supply is VERY low right now. Unless you buy a crappy house in a crappy neighbourhood, you are likely to have to compete for a house. It is just the way the market is. Unless we get 1,000 new sellers tomorrow, it is going to stay like this for a long time yet.
But the Real Estate Council of Ontario (RECO) tells The Star that about 30% of the 15,000 inquiries RECO received this year were from house hunters frustrated by bidding wars.
Comment: Because it is human nature to complain when we do not get what we want.
Not only do bidding wars drive up the cost of home ownership, they often force buyers to pay more for less. Sometimes, a LOT less. RECO has actually launched transit ads and a YouTube video warning people not to skip the ever-important home inspection just for the sake of winning a bidding war.
Comment: No, no one FORCES anyone to do anything. People make their own decisions. Sometimes they are not the best decisions. But no one forces them to do anything.
That’s right – Torontonians are actually signing on the dotted line for the biggest purchase of their lives without confirming that their “dream” home could use a new roof, a new furnace or be on the verge of collapse. ‘Cause you know that makes a tonne of sense, saying to the seller: I’ll pay you MORE for a house which could very well be worth less. I’m willing to take that gamble!
Comment: Blame that on listing agents, they want “clean” offers with no conditions. That benefits no one. Without a finance condition, the bank could say no to the buyer on closing – which means the seller has to put their house back on the market months after it first sold. If they have bought… ooh, not good. And without an inspection, an angry buyer could sell when defects are found later. Let it simply be about price and closing date, let’s leave the conditions in – the protect EVERYONE.
Stop gambling, Toronto, and think of the rest of us. When you allow yourself to be sucked into a bidding war, you keep the bidding wars alive. Don’t feed the beast.
Comment: But it is simply not that easy. Many people want to live in certain areas, more than the houses that are available. Thus, they have to compete for these houses. Do you really expect that many people to just stop looking for a house? What happens when they all start looking again? Same problem. Are you going to come with a time table, so only certain people are allowed to buy this month and others next month? It is all fine and dandy for you to tell everyone to stop, but it simply is not practical. And to be honest, a good half of my clients avoid bidding wars, they just stay away from them. I expect that is the same with other agents. So that means a ton of people are already staying out of the bidding frenzies! What you see are those who really really want those houses.
In the meantime, check out the cautionary video from RECO, complete a mournful piano soundtrack and a sad-eyed, pouty-mouthed child suffering the fallout of a hasty home purchase. Look at that kid’s face – and back down from the bidding war.
And, take a look at the stats on the hot Toronto housing market.
Comment: But what do the stats show? Only that prices rise, year over year. So buying now means your house will be worth more in the future. That does not really support your argument. People, list your homes! That is the only way to stop the madness. As much sense as that makes…
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Contact the Jeffrey Team for more information – 416−388−1960
Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
They did not write these articles, they just reproduce them here for people
who are interested in Toronto real estate. They do not work for any builders.
—————————————————————————————————–
Incoming search terms
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Toronto Real Estate — Bloor West Village
From New Dream Homes and Condos Magazine
In the 1850s, the area now known as Bloor West Village was the property of Lieutenant Colonel William Smith Durie, the first commanding officer of the Queens Own Rifles. The street that ran through his estate is now known as Durie Street. The present day neighbourhood began to be developed in 1909, when this district became part of the City of Toronto. Soon after amalgamation with Toronto, Bloor West‘s roads were paved and city services were made available.
Bloor West‘s first residents were immigrants of Eastern European background. These are the residents who helped found the Bloor West Village Business Improvement Area, the first of its kind in Canada. This shopping district has helped make Bloor West Village one of Toronto’s most popular neighbourhoods.
This is also a popular neighbourhood for families since it is home to many excellent schools and is within walking distance of High Park—Toronto’s biggest and best-known park. Covering 399-acres, this Toronto landmark contains picnic areas, flower gardens, animal paddocks, a restaurant, an outdoor amphitheatre, sports facilities, a trackless train, an adventure playground, and a large pond.
Other local attractions include the Annette Recreation Centre, which is attached to the Annette Street public school. This centre has an indoor pool, a small gymnasium, and a baseball diamond. A little bit east of the Annette Centre is the Annette Street Public Library, which offers programs for adults, children, and preschoolers.
Bloor West Village is also home to The Humber, a movie theatre that is conveniently located on Bloor Street, just west of Jane Street.
Homes in the area are all fairly similar in size and style—having been built in a relatively short period of time between 1912 and 1923. Most houses feature deep front porches that are well shaded by the majestic oak and maple trees that line the streets of this neighbourhood.
Although known for it’s great selection of stores, the Bloor West Village shopping district is as much about eating as it is about shopping. It’s a virtual smorgasbord of bakeries, delicatessens, specialty food shops, cafes, and restaurants.
Convenience stores, fruit and vegetable markets, dry cleaners, video stores, and other shops catering to everyday household needs, can also be found on Jane and Annette streets.
The Jane and Runnymede subway stations are part of the Bloor-Danforth subway line and are both within walking distance of the homes in Bloor West Village. The Annette Street bus connects passengers to the Dupont subway station on the Yonge-University-Spadina subway line and there are additional bus routes on Jane Street and Runnymede Road.
Commuters are only about ten minutes from the Gardiner Expressway and Lake Shore Boulevard—providing quick access into and out of the city.
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