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Archive for the 'Consumer Best Interests' Category

GREEN Inspiration!

401 Richmond Street roof top gardenHave you been searching for some green to incorporate into your city lifestyle? It may be hard to believe but there are a number of green initiatives taking place right in downtown Toronto. From government buildings to historic sites more and more builders and planners are realizing the importance of green buildings. With the help of a publication from the Canada Green Building Council and www.greenroofs.com, Our Home Toronto has put together a list  of five of  the  great green building projects happening all around the city.

1) The Fairmont Royal York: The Fairmont Royal York boasts a well known rooftop garden which started in 1998. According to greenroofs.com the 4000 sq. foot space grows herbs and tomatoes that are used in 6000 meals per day. Tours of the rooftop garden can be arranged for visitors and residents of Toronto when they attend afternoon tea at the Fairmont Royal York.

2) 401 Richmond: Home to “140 artists, cultural producers and micro-enterprises” (Toronto Focus: Canada Green Building Council), 401 Richmond Street offers visitors and tenants use of there 6,500 sq. foot green roof free of charge. The space offers not only a multitude of plants but also a “downtown view that includes the CN Tower.” (401richmond.net/gardens)

3) Toronto City Hall: Toronto City Hall’s Green Roof is part of the revitalization of Nathan Phillips Square. In order for the green roof to be green roof 401 Richmond constructed “3,250m sq of concrete was converted to vegetation” (Toronto Focus: Canada Green Building Council).

4) Minto Roehampton: According to the Canada Green Building Council,  this is Canada’s first LEED Gold multi-unit residential building. Highlights of the green initiatives the building offers residents include: automatic turnoff of overhead lights and ventilation systems, dual flush toilets which reduce water consumption and individually monitored heat and electricity.

5) The Evergreen Brickworks: The green projects taking place at the Evergreen Brick Works are quite extensive. According to The Canadian Green Building Council just a few of the improvements to the well-known event space include: a computerized network that controls lighting, ventilation, heating and A/C. Other major projects include a green roof as well as attainment of LEED status.

As you can see, Toronto has many green projects. Whether you are already a Toronto resident, moving to Toronto, or just visiting be sure to visit some of these great green projects in the heart of the city.

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Spectacular Views, Floor Plan, Building, Location

3209-219 Fort York Blvd in Water Park City offers phenomenal views and spacious floor plan that allows residents to take full advantage of living in the sky. Featuring two West view bedrooms, two full baths, floor to ceiling windows and bamboo style floors; this exquisite suite offers remarkable quality of life in a premium location. Visit www.OurHomeToronto.com for many more great condo listings for sale or contact me directly at 416-931-4161.

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James Metcalfe’s Real Estate Update August 2012…In Our Home Toronto

Although a bit delayed here is our August 2012 Real Estate Update in Our Home Toronto. It is important to note that the average price of a resale home in the GTA in July was $476,947 which was a +4% increase from the average price of $458,646 in July 2011. Also, this month we feature an interesting article on Basement Apartment Legalities and the five areas that must be considered to establish a legal basement apartment. And finally, an important article on mold…what it is, where you can find it and how to combat it. Pearls of wisdom also returns… here’s a preview…”A vegetarian is a person who won’t eat anything that can have children.”-David Brenner

James Metcalfe’s Real Estate Update August 2012 from James Metcalfe

Urgent Mortgage Update

Dear friends, clients and interested home purchasers;

The Federal Government Finance Minister announced today there will be some significant changes made to mortgage regulations and these changes will start being enforced as of July 9th.

1. The maximum amortization for government insured mortgages will be lowered to 25 years from 30 years. There might still be some lenders offering higher amortizations on non-insured mortgages.

2. The maximum loan to value allowed for insured mortgages will now be 80% and not 85%. Again, there might be some lenders who will go to the higher loan to value and not insure the mortgage, but you will be paying a higher interest rate for this privilege.

3. The maximum mortgage amount that can be insured is now set at $1,000,000. Currently there is no limit put in place by the government. but some lenders already have their own rules on the maximum size of mortgage they will lend.

4. Maximum Gross Debt Service Ratio (GDS) will be set at 39% and the Total Debt Servicing ratio (TDS) will be set at a max of 44% for insured mortgages. The TDS is basically unchanged, but some lenders currently allow a GDS of 44% as well.

These new regulations are meant to curb Canadians borrowing and force them to build more equity in their homes. Gone are the days of no money down and 40 year amortizations which made it very difficult for Canadians to build equity in their homes and lead to irresponsible borrowing.

If you are anybody you know is considering purchasing a new home or refinancing their mortgage, these regulations could impact them. Although the official date these regulations will come into effect is July 9th, lenders and CMHC may start to enforce them unofficially earlier.

If you have any questions please do not hesitate to contact me!

Many thanks;

James @

… OurHomeToronto.com


Direct: 416-931-4161


Thank you also to Brad Compton – Mortgage Agent / Invis Mortgages

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James Metcalfe’s Real Estate Update June 2012 … In Our Home Toronto

Here’s our June Real Estate Update for Our Home Toronto: You’ll note Toronto home sales volumes (+11% vs LY) and prices (+6% vs LY) remain strong in May; an interesting article on Fixtures vs Chattels … what constitutes each and why you should be specific when preparing your listing or offer; an article on simplifying Mortgage Speak;  and the ever popular Pearls of Wisdom … here’s a teaser “I used to be Snow White, but I drifted.” – Mae West

Enjoy and do let us know if you would like to receive this update by email.

For loads of Listings and free information on buying or selling Visit OurHomeToronto

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James Metcalfe’s Real Estate Update May 2012 … In Our Home Toronto

Here is our May Real Estate Update for Our Home Toronto: You’ll note average April prices are up 9% vs 2011 for a new all time high average GTA price of  $517,556 & volumes are up 18% vs 2011 for April sales of  10,350 homes sold, an interesting article on How To Optimize Curb Appeal, Personal Finance … HST and your Real Estate investment, a MUST read … How and Why it’s less expensive to buy a home today than it was 20 years ago! and the ever popular Pearls of Wisdom … Enjoy and do let us know if you would like to receive this update by email.

For loads of Listings and free information on buying or selling  Visit OurHomeToronto

View more documents from James Metcalfe.

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