Morrison Sells Real Estate – Toronto Real Estate Agents

Author name: Davelle Morrison

The Morrison Report

How to utilize your laneway

Listen to “How to utilize your laneways?” on Spreaker. Michelle Senayah, Co-Founder and Director at The Laneway Project walks us through some of the ways laneways could be utilized. What technically is a laneway? What city rules or by laws do you need established for the laneway projects? What are some of the things that could be done in the laneway? When it comes to doing something like a murals, how do you determine what kind of artwork suits the community and all the neighbours for that particular laneway? Who foots the bill for some of these special projects? What kinds of events would have been done in the past? What is done in the greening front? How did The Laneway Project get started? Where did that come from? How many people are working at The Laneway Project? How has the support been in the city? Has other cities been utilizing their laneways? Are their considered to be high profile laneways in Toronto? Is there an ultimate laneway you would really love to do a big project with? Do you have a couple of ideas that you have in regards to the laneways you would love to see enacted and any one of laneways you have not done yet or you would like to do? What are your big dream or ideas you really want to do in a laneway? Do people donate to help fund some of these projects? Do you fundraise? When it comes to your corporate donors who would want some exposure on the other end. How do you give them the exposure without compromising what you are doing in the specific laneway? When someone’s got a laneway in mind in their neighbourhood and they really want to get their laneway involved. How do they apply? Do they go to your website? Do they fill out an application? How does it work?

The Morrison Report

What you should know about the Condo market

Listen to “What you should know about the Condo market” on Spreaker. Shaun Hildebrand, Senior Vice President of Urban Nation walks us through some of the trends in the condo market. What does Urban Nation do? What has been the trend in the market over the years in terms of the size of the condos? What kind of price points are the larger units coming in at? Why are more developers going with rental buildings now? Why it is not a big concern that there are so many condo building going up in a particular area? Why we are not over building condos? Why the volume of completions have gone down this year? Why will investors not be impacted at all by the number of purpose built rental buildings that are coming up? In terms of the preconstruction condos, what are the percentage in the preconstruction market who are end users, foreign investors and local Canadian investors?

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245 Davisville Ave. 317

Sought After Davisville Village, This Spacious 2 Bedroom Condo Faces West With A Sweet Balcony, Ready For Sunset Viewing With Wine. The Open Concept Kitchen, Living & Dining Space Is Ideal For Entertaining. Hardwood Floors Throughout. Steps Away From Davisville Subway Station, Starbucks, Tim Horton’s, Grocery Stores, Restaurants, Boutiques, Summer Farmer’s Market, Beltline, Ravine Trails & Parks. Extras Include: Stove, Fridge, Dishwasher, Washer, Dryer, *Locker & Parking + Bike Rack For 2 Bikes. Visit 317-245Davisville.com

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455 Rosewell Ave. 209

Sought After Lawrence Park, This Spacious 1 Bedroom + 1 Den Condo With West Facing Ravine View From A Sweet Balcony. Large Open Concept Kitchen, Living & Dining Space Is Ideal For Entertaining. Large Master w/Closet & Den. Hardwood Floors Throughout. Close to Shopper’s, Starbucks, Grocery Stores, Restaurants, Boutiques, Ravine Trails & Parks. Extras include: Stove, Fridge, Dishwasher, Washer, Dryer, California Shutters, Locker & Parking. Visit 209-455rosewell.com

The Morrison Report

How Seniors Choosing to Downsize Could Improve Their Health

Listen to “How seniors choosing to downsize could improve their health” on Spreaker. Guest Speaker: Karen Shinn Cofounder of Downsizing Diva walks us through the services that are available to seniors looking to downsize. What services does Downsizing Diva provide? How is Downsizing Diva different from a traditional moving company? What are some of the age groups that have used Downsizing Diva services? How is an objective viewpoint important when deciding which items to take with you and leave behind? How does a floor plan assist you in deciding which furniture’s to take with you? If thinking of downsizing, why is it important to make the move sooner rather than later? How does residences like condos, senior apartments and retirement residences have a higher appeal for people with reducing mobility? What signs should you be aware of for you to seriously consider downsizing? Why is social isolations common in seniors who lost a spouse? Why is there an increase in the phone calls for downsizing in September, October or before winter? How does neighbourhoods play a factor in choosing to downsize? How have the notion of retirement homes changed over the years? How does retirement homes help prevent social isolation and increase enthusiasm for life?

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How the new mortgage rules are changing the market?

On October 3, 2016, the Federal Government announced a few changes to mortgage rules As of October 17th, if you are putting a down payment of less than 20%, they will give you a “stress test” to make sure that you can qualify for the mortgage based on 5-year Bank of Canada rate. The Bank of Canada rate is currently 4.64% and a competitive rate at one of the major banks would be 2.39%. Based on the new “stress test”, you will only qualify for the mortgage as long as you have a minimum credit score of 600 and if no more than 39% of your household income goes toward your mortgage, heat, or property taxes. The net result could be that you now qualify for 20% less than you would have qualified for in the past. If you are coming up for a mortgage renewal with the same lender, you should be fine however if you move to a new lender, you would have to requalify under the new rules. If you have over 20% to put down on a home, the big banks are contemplating more changes after Nov. 30th so stay tuned. The government has now made it harder for first-time buyers to buy a home. It has reduced their spending power. If a first-time home buyer was once considering a house in the city, their only option, now that the new rules have come into play is a condo, given the price of houses in the city right now. I do believe that this regulation will force more buyers into the condo market. This is great if you own a condo that you’d like to sell. Not so great if you have dreamed of owning a house. So what do I recommend, if you are or will be a first-time buyer with less than 20% down payment? Step 1) Go to www.equifax.ca, pull your credit report. Make sure your score is higher than 600. Step 2) If you’d like to learn more on how to improve your score and make sure your score stays above 600, then listen to my MORRISON REPORT PODCAST with Mortgage Broker, Joe Sammut where we discuss what goes into your credit score and what you can do to improve it. Visit www.morrisontalksrealestate.com and listen.

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36 Charlotte St. PH8

Rarely available 2-storey 1 bed loft penthouse in the heart of King West.  This bright loft has an open concept Kitchen, dining & living area w/ 16ft high ceilings is ideal for those who wish to entertain, a sweet balcony, and a large master with a w/i closet and ensuite.  The financial district, subway, streetcar, ACC, Rogers Centre, coffee shops, stores, restaurants, gym are all w/i 4 blocks. You never need to go anywhere else. Visit www.ph8-36charlotte.com Extras include: Stainless Steel Appliances: Stove, Fridge, Dishwasher*Washer, Dryer*Granite Counter tops* 1 Locker*1 parking spot*

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