Our Newest Feature - Jenny Shops!

Welcome to our new feature - Jenny Shops!

As our resident designer, Jenny helps our clients maximize the value of the homes when they are selling and helps make the most of the homes they buy through her design expertise.

That means a lot of shopping!

Clients often ask where they can find great furniture, accessories, and the best deals for home improvement supplies.

Now, each month we're going to feature Jenny's favorite sources, suppliers and stores.

Want to know where to find what you're looking for?

Just ask!

jenny@markrichards.ca


BIG DEALS:

Located in the Beach, a great garden and outdoor accesory store Cool, Green and Shady is having a 40% off sale as they are moving to Kingston Road in a few weeks. Check them out for stunning laterns, gardening supplies and great planters.


Cool, Green and Shady
2012 Queen Street East (Across from Kew Park)
416.699.4004


THIS MONTH: Patio Season

With summer and the hot weather just around the corner, everyone is thinking outside the house. After scouring the city for quality, value and style I found Southport Home.

Whether you are looking for a contemporary look or a more traditional feel, this store offers a lot of options at either end of the spectrum.

Here is why they are different from a lot of other patio furniture stores.

Value
They offer all-season wicker with Sunbrella fabric for half the cost of other designer stores with the same look and quality. They also don't charge extra for removable fabric with zippers!

Speed
Many other suppliers will take 4-8 weeks on average because they have their cushions made off-site. Southport Home has an in-house seamstress and a massive on-site warehouse so you can get most items within 1-2 weeks.

Customer Service
The staff are great...friendly and knowledgable. They deliver when they say they are going to deliver and offer full assembly and placement.

Check out their site for products and contact info at http://www.southporthome.ca/

Yard Sale for the Cure - May 30th!

On Saturday May 30th, founding partner RE/MAX is sponsoring ‘Yard Sale for the Cure, a one-day event that brings neighbourhoods across the country together for a massive yard sale in support of breast cancer research and patient care.

The event, which provides homeowners a unique opportunity to clear clutter and unload items no longer in use while simultaneously raising finds for breast cancer, is the natural evolution of RE/MAX’ involvement with the Canadian Breast Cancer Foundation -- Ontario Chapter.

RE/MAX has been instrumental in programs such as Primary Prevention Research and Breast Care and Health in Ontario since 2004.

Please join us in our fight against breast cancer by holding a yard sale or shopping for bargains and treasures on May 30th, 2009.

Interested homeowners can register on line at http://www.yardsaleforthecure.com/ to get a Yard Sale for the Cure kit.

Kits are available for $20.00 and includes a lawn sale sign, hat, posters, pink balloons and information package. One hundred per cent of funds donated will support breast cancer research and patient care.

Only by working together will we find a cure for breast cancer.

Casting Call for Pure Design Room Makeover!

Do you have a room in your home that could use a makeover while being eco-conscious?

Pure Design is hosted by the fabulously creative Samantha Pynn, design editor for "Style at Home" magazine.

Hip and stylish with a passion for eco-friendly design, Samantha creates the ultimate in living spaces that both reflect and stimulate your life, while being mindful of reducing our carbon footprint when possible.

Samantha and her design team combine style with sustainability, while using innovative designs to transform a room from dated to divine, into a space that is livable, functional and purely beautiful.

If you are a home dweller who…

- Owns your own home (no renters please)
- Is upbeat, outgoing and between 25-49 years of age
- Has a space that could use Samantha’s help (space should be at least 15 x 15 square feet)
- Is interested in renovating the space between May-August 2009
- Lives inside Toronto’s core (not the outlying GTA)
- Can contribute a minimum of $5000 toward the makeover

...they’d love to hear from you.

Please email the following information to puredesign@omnifilm.com:

- A brief description about yourself, other members of your household, and your lifestyle
- Tell us about your home and its character (Please include photos)
- How would you describe your style?
- Describe the room that could use improvement (please include photos).

- Why has this particular room caused you design grief?
- What is the size of the room? (This room should have two entrances for filming purposes and be at least 15 x 15 feet).
- Contact info (phone and email)

Markets & Mortgage

In April 2009, Greater Toronto REALTORS® reported 8,107 sales – down seven per cent from April 2008.

While April sales remained lower than last year, the housing market gained momentum on a month-over-month basis.

The seasonally adjusted annual rate of sales in April, at 80,900, was up 26 per cent from March and up two-thirds compared to January’s ten-year low.

“Conditions in the resale housing market have improved markedly this Spring,” according to TREB President Maureen O’Neill.

“Home purchases have increased as households have taken advantage of low interest rates and
slightly lower home prices.”

The average price for April transactions was $385,641 – down three per cent from last year.

“The rate of average price decline continued to diminish last month. This is due in large part to a tightening in the resale market,” stated Jason Mercer, TREB’s Senior Manager of Market Analysis. “The level of sales relative to
new listings increased in April.”

For the full April Toronto Real Estate Market Watch click here.

From the Desk of Peter Majthenyi - My Mortgage Planner...

Building wealth using a re-advanceable mortgage

Re-advanceable mortgages with home equity lines of credit continue to gain in popularity.

What makes this mortgage such a great fit for many Canadians is that those of us in our homebuying years are always juggling to find a balance between paying off our homes and investing for the future.

Using a re-advanceable mortgage that includes a line of credit (LOC), we can actually do both.

Click here to read more.

Signs of an Early Rebound

Check out this link for the full Globe and Mail Real Estate feature to find out what homes are selling for where you live...

http://beta.theglobeandmail.com/globe-investor/early-signs-of-a-rebound/article1061236/

Cheap & Hot....Today's Market & Mortgages

It's been a crazy week. I sold a multi-million dollar home in 12 hours. 2 out of 10 homes my buyers want to see have already sold conditionally. I've also been in several multiple offers.

The number of homes sales is only down 7% from the same time last year according to TREB. Considering the insanity of last year that is really saying something.

And the current average price is only down 4% from $399,117 to $383,161. If everyone considered early last year to be an inflated market, it would appear that the current market is not in a downturn, but closer to a happy medium.

That is not to say that once spring fever is passed this momentum will continue trending upward. I still believe we have yet to see the trickle-down effect of job losses and the US economy and summer may cool off considerably.

Part of the activity is being spurned on by unbelievably cheap money.
As noted by Peter Majthenyi from My Mortgage Planner, "...the Fed lowered the overnight lending rate to .25% ... that's right .25% ... it has never been this low since Canada started recording interest rates at the beginning of the century."

On top of that, the Central Bank is assuring us that will not change until 2010!
For the first time, Peter is is recommending that working with a variable rate is not necessarily the way to go.

He says, "...variable mortgages performed better 88% of the time over the long term, but now we are experiencing that small 12% period when fixed may be better. If a 5-year fixed mortgage can be had for 3.75%, or a 10-year fixed for 4.99%...take a break from variable for now and revisit it upon the renewal when fixed rates may be higher."

Even if you are currently locked, it may make financial sense to break it. No matter what you current situation, you may be able to benefit.


Check out Peter's recommendations below as well as the mid-month TREB report.

Mortgages & Markets

The Bank of Canada now has no room to further lower interest rates. On Tuesday April 21st the Fed lowered the overnight lending rate to .25% … that's right .25% … it has never been this low since Canada started recording interest rates at the beginning of the century.

So what's next? To everyone's surprise, our Government has assured us that interest rates will be kept low until June 2010 unless inflation becomes an issue, which seems unlikely given that our current recession is now predicted to be deeper and longer than expected. Not all of the news is bad though … if you have job security, this is your year to buy your home or adjust your mortgage financing at rates not even your parents had!

Now that variable mortgages will be reduced another .25%, many are attracted to the new rates of about 3%, but please remember that a mortgage is far more than a great rate.

Most of my past clients are enjoying variable mortgages at prime less .75%, which gives them a rate of 1.5% … some even lower. These lucky homeowners should NOT change their mortgages because rates cannot go up fast enough to merit locking into a fixed term of about 4%. The new pricing for variable mortgages has changed to prime plus .75%, which means a rate of 3%, a premium we have never experienced before.

If you choose a variable contract at prime plus .75% for the next 5 years, you will not be happy you locked into this product when normal discounts return to variable mortgages. If variable is what you prefer, then wait until discounting returns to the marketplace.

Until now, very few of my clients chose a 5-year fixed mortgage … it just didn't make sense. All data showed that variable mortgages performed better 88% of the time over the long term, but now we are experiencing that small 12% period when fixed may be better.

If a 5-year fixed mortgage can be had for 3.75%, or a 10-year fixed for 4.99% … I say new borrowers do not pay a premium for today's variable mortgages, but rather take a break from variable for now and revisit it upon the renewal when fixed rates may be higher.

Now is also the time to ensure your current "mortgage plan" is sound! If your rate is 5% or higher and does not renew in the next year, you may want to consider breaking your mortgage. Your discharge penalty may be justified by your annual savings at today's lower rates, which can also provide long term rate protection for the next 5 to 10 years.

Also remember that the future is a mortgage and line of credit combination, and the sooner you can transition to a financing package like this, the sooner you will start saving money. These types of mortgages provide access to your home equity in the form of a growing line of credit.

This is a free credit facility that provides cheap financing for tax-deductible investing, renovations, or for emergency cash requirements … if done right, it could be the last financing you'll ever need!

There have been more innovations in mortgage products in the last 3 years than in the last 30, and our responsibility is to put your choices into perspective. Let us help you with a "mortgage plan" that addresses your expectations … together we'll ensure you pay less interest for your home, and prosper financially sooner.

Anytime you're ready to learn more …

Peter & Team

416) 410-3298

peter@mymortgageplanner.ca

http://www.mymortgageplanner.ca/

Toronto Real Estate Board April Mid-Month Market Report

3,681 TRANSACTIONS IN FIRST HALF OF APRIL

TORONTO, April 17, 2009 - Greater Toronto REALTORS® reported 3,681 transactions in the
first half of April, down seven per cent compared to 3,955 during the same period last year.

“In lock-step with the favorable March results, resale housing market conditions in the first half of April were markedly improved compared to the winter time,” said TREB President Maureen
O’Neill.

“Households that were on the sidelines at the beginning of the year are now taking advantage of
lower interest rates and lower home prices.”

The average price for MLS® sales was $383,161, down four per cent from $399,117 last year.

“The average home price in the GTA stabilized as resale market conditions tightened over the
past two months,” according to Jason Mercer, TREB’s Senior Manager of Market Analysis.
“Existing home sales increased relative to new listings.”

Source: Toronto Real Estate Board 2009