Toronto Real Estate and Neighbourhoods Blog | Move Smartly

Amend code to protect innocent neighbours

Bob Aaron in Legal

Last week's column told the story of the illegal chimney on a north Toronto bungalow owned by Ruta Benjamin and her husband.

When the house next door to the Benjamins' was torn down in 2007 and a monster home erected in its place, the couple discovered that their chimney was now lower than the roofline of the new house next door and too close to it.

Suddenly their chimney became illegal.

The column brought some interesting email responses.

Bernadette Celis, communications advisor with the Technical Standards and Safety Authority (TSSA), explained why the Benjamin chimney became illegal: as a result of the construction of the new house, the chimney on their bungalow was in violation of the Natural Gas and Propane Installation Code and Ontario regulation 212/0 – Gaseous Fuels.

The code requires a fuel distributor to report to the TSSA when it finds a contravention or hazard. In this case, since the Benjamin chimney was less than two feet higher than the roof next door and less than 10 feet closer to the new house, it became a code contravention.

The code required the Benjamins to make their chimney comply at their own expense.

Move Smartly Blogger John Pasalis on SunTV

Realosophy Team in Realosophy News

Join Move Smartly blogger John Pasalis on the SunTV show Canoe Live today, December 21st at 5:30.  John will be discussing finance minister Jim Flaherty's recent comments regarding potential changes in mortgage rules that would make it more difficult for Canadians to qualify for a mortgage.  What impact is this going to have on Toronto's real estate market?  Watch the show to find out!

About the Show:

Canoe Live is a one hour Live innovative, revolutionary daily presentation of current affairs, news, entertainment and sports. Both a ‘re-active’ and host driven show Canoe Live will un-cover the pulse of the city , nation and globe using technology and viewer participation.

The goal is to connect the viewers emotionally and give them a sense of ownership and participation. To this end, the key will be to enlist and solicit Citizen Journalism and technology aided “rich media”. Through the use and presentation of email, cell phone photos and video, participation in on-line polls, chats and forums, the viewer will take a role in the show by acting as the catalyst for discussion and presentation of issues.

Feds May Change Mortgage Rules to Cool Down Real Estate Market

John Pasalis in Toronto Real Estate News

CTV News reports that finance minister Jim Flaherty is considering raising the minimum down payment required for a mortgage in Canada and possibly reducing the maximum amortization period allowed in an effort to cool down Canada's hot real estate market.

Flaherty warns "If we see further evidence that there is excessive demand in the housing market or that there's an indication that people are taking on obligations that they will not be able to handle in the future when interest rates rise, then we will take some action,"

"The likely action we will take is to increase the size of the down payment from 5 per cent to a higher number, reduce the amortization -- bring it down from 35 years to something less," he said.

Low interest rates have been one of the key drivers behind the quick turnaround in Canada's real estate market.  The federal government is looking for ways to cool the demand in the real estate market without raising interest rates.  Increasing interest rates would have a negative effect on the other sectors of Canada's recovering economy.

John Pasalis is the Broker owner of Realosophy Realty Inc in Toronto. Realosophy Realty focuses on researching Toronto neighbourhoods to help their clients make smarter real estate decisions.

Subscribe to the Move Smartly

Couple's chimney suddenly "illegal"

Bob Aaron in Legal

Ruta Benjamin and her husband were sitting in their house, minding their own business, when they suddenly found themselves in violation of regulations of the Technical Standards and Safety Authority without doing anything wrong.

They live near Avenue Rd. and Highway 401, where many of the older bungalows have been torn down and replaced with what she calls "monster homes."

The bungalow next to the Benjamin home was torn down 18 months ago and replaced with a large two-storey home. The City of Toronto Committee of Adjustment had approved some minor zoning variances for the new house, and the city issued a building permit for it.

Last month, when an inspector from Enbridge Gas Distribution came to complete the final safety check of the new house, the Benjamins were served with a notice of infraction. It stated that their chimney no longer complied with the fire safety regulations of the Technical Standards & Safety Authority (TSSA) because it suddenly wasn't tall enough.

They were given a deadline to raise the chimney at their own expense or have their gas supply cut off.

Media Roundup December 18th, 2009

Media Roundup

Real Estate News

Canadian housing market boom spurs bubble fears (Forbes)

The real estate gamble (Macleans)

A tricky dance of debt for home buyers (Globe and Mail)

Housing market has big cracks (Globe and Mail)

Fears of Canadian housing bubble dwindle (Globe and Mail)

Housing set to really juice economy in spring (CBC)

Toronto homebuilder fined $240K (CBC)

$24M pledged for arts centre in Toronto's Regent Park (CBC)

Future Rate Predictions (Canadian Mortgage Trends)

Inside CMHC (Canadian Mortgage Trends)

Safdie wants Parkside to soar (Toronto Star)

Housing market in bubble territory? (Toronto Star)

Apartment vacancy rates climbing (Toronto Star)

TREB: Home sales jingling along (National Post)

A modernist Charles Street condo is king (National Post)

Toronto Real Estate Sales Up Mid December

John Pasalis in Toronto Real Estate News

From the Toronto Real Estate Board:

Greater Toronto REALTORS reported 3,079 existing home transactions in the first two weeks of December compared to 1,487 in 2008. The strong growth represents both increased home ownership demand and the fact that we are comparing the recovery phase of the sales cycle this December with the contraction phase experienced last winter.

Year-to-date sales, at 84,888, were up 16 per cent compared to the same period last year and have moved in line with the healthy levels experienced in the 2004 through 2006 period.

"We experienced a very strong and broad based recovery in the second half of 2009," said Toronto Real Estate Board President Tom Lebour. "The rebound in the housing sector speaks to the confidence that ouseholds have in overall economic recovery.”

The average resale home price during the first two weeks of December rose 17 per cent to $423,103. The year-to-date average was $395,411, up four per cent compared to the same period in 2008.

“The double-digit price growth we have experienced since September will continue through the first quarter of 2010. Average price growth will move to a sustainable pace in the spring as listings increase," according to Jason Mercer, TREB's Senior Manager of Market Analysis.

John Pasalis is the Broker owner of Realosophy Realty Inc in Toronto. Realosophy Realty focuses on researching Toronto neighbourhoods to help their clients make smarter real estate decisions.

Subscribe to the Move Smartly

Will cheaper access to justice mean more litigation?

Bob Aaron in Legal

With less than a month to go, the Ontario court system is in for one of its biggest shake-ups in recent memory.

Effective Jan. 1, 2010, the monetary jurisdiction of the Ontario Small Claims Court jumps from $10,000 to $25,000, and new streamlined rules will apply in Superior Court to all claims over that amount. The changes were recommended in 2007 by Justice Coulter Osborne, who was asked by the Ontario government to suggest improvements to the civil justice system.

The net result will be to provide wider and cheaper access to justice for all Ontarians. In the real estate field, I anticipate that unhappy parties to a transaction will be less hesitant to sue for damages. Lawyers will not be necessary for claims under $25,000, and the cost of litigation for damages exceeding that amount should be much less expensive in future.

Whether the changes will result in a litigation explosion remains to be seen.

Some time ago, a Toronto Star series reported that the average three-day civil trial in Ontario Superior Court costs approximately $60,000. Figuring in preparation, discoveries, and time in court, legal fees can easily reach $10,000 per day of trial for each side. For most Ontarians, those costs are prohibitive and represent a significant incentive to refrain from suing.

Media Roundup December 11th 2009

Media Roundup

Real Estate News

Why Didn’t Canada’s Housing Market Go Bust? (Federal Reserve Bank of Cleveland)

Housing News Flash (Scotiabank Economics)

Bank of Canada holds rate steady, defends outlook (Reuters)

Lenders Want A Billion For Subprime Rescue (Canadian Mortgage Trends)

‘Orphaned' homeowners face foreclosure (Globe and Mail)

Housing starts hit 2009 high (Globe and Mail)

Pent-up demand rejuvenating home builders (Globe and Mail)

How Canadian wealth rebounded (Globe and Mail)

Carney urges prudence on debt (Globe and Mail)

Floating high on a delicate housing bubble (Globe and Mail)

Websites barred from repackaging MLS data (Globe and Mail)

Realtor's lawsuit dismissed (Toronto Star)

GTA housing starts fall sharply (Toronto Star)

It's a renter's market as condo building booms (Toronto Star)

Interest hikes could shock mortgage holders (CBC)

Police make arrests in alleged real estate scam (CTV)

Interest rates may rise despite BOC deadline (National Post)

Urban Planning and Neighbourhoods

Moshe Safdie's Toronto (Globe and Mail)

Fort York Visitor Centre renderings (Spacing)

Subway stations and underground creativity (Spacing)

Gentrification and diversity (All About Cities)

Media Roundup December 4th 2009

Media Roundup

Real Estate News

Young buyers drive Toronto condo boom (CBC)

Housing sales across Canada are set to reach new highs (CBC)

TD says Canada's housing boom overblown (CBC)

A buyer’s quandary: Jump in or get out? (Globe and Mail)

Real estate surge no 'blip,' TD Bank report says (Globe and Mail)

GTA home sales double in November (Globe and Mail)

Average Toronto home price hits $450,000 (National Post)

If 2009 was a hot seller, will 2010 be the same? (National Post)

Need real estate information pronto? This online destination is now mobile (National Post)

Recovery in GTA housing market gaining ground (Toronto Star)

Bond Yields Up Big (Canadian Mortgage Trends)

Canadian Housing: First In, First Out, But Where To From Here? (TD Economics)

Neighbourhoods and Urban Planning

Time to re-think the way we build cities (Globe and Mail)

City orders condo developers to buy annual metropass for every unit (National Post)

Sherbourne: Toronto's 'city in one street' (Toronto Star)

James: Mondo condo's saving graces (Toronto Star)

Famed architect unveils plan for Queens Quay jewel (Toronto Star)

Waterfront Toronto selects Great Gulf to be first East Bayfront developer (Daily Commercial News)

A Glimmer of Hope for Toronto Home Buyers

John Pasalis in Toronto Real Estate News

The Toronto Real Estate Board’s November Market Watch report showed the first sign that some relief might be on the way for Toronto home buyers.

Every month this year prior to November experienced a decline in the number of new listings coming on the market.   In some months the decline in new listings was as high as 30% over the previous year.  This decline is one of the factors driving the imbalance we are seeing between the demand and supply for homes in the Toronto market.  November marked the first month this year where we did not see a decline in the number of properties coming on the market.  The number of new listings remained flat when compared to the same month last year.

 

But the overall inventory (total number of homes available for sale) for the market continues to be well below historical levels.