Thursday, December 29, 2011

Minto 775

Minto 775 is an incredible project that is going up just steps away from the corner of King and Bathurst. In terms of location, in the King West area, this site is hard to beat!  In terms of availability, there are still some wonderful larger suites still available. As it is hard to find condos that are over 1000s/f in this location, take advantage! Condos in Toronto are only getting smaller and smaller! For more information on this project that is under construction, click on King West Condos.

Friday, December 23, 2011

DNA3 Construction Update

Good news! Construction for DNA3 Condos has begun! Keep checking in with us for updates! Happy Holidays! For more information on DNA Condos and King West Condos click on King West Condos.

Thursday, December 8, 2011

DNA3 Construction Starting Soon!

DNA3 Condos is set to start construction in just a few weeks! It is hard to believe that this project that launched just last year is almost sold out. There are only a few units left which are available for purchase at pre construction pricing. The unique thing about these units are they are penthouse units with unobstructed views! Don't miss out on purchasing in the fastest selling project in King West!

Click on DNA3 Condos for more information!

Wednesday, November 30, 2011

DNA3 Condos Update

Well, it looks like DNA3 Condos is almost sold out! There are still a few units available for sale. If you're looking for a studio unit or a small one bedroom plus den, there are a few still left on the lower penthouse and upper penthouse floors. With that being said, construction is just around the corner! With the sales centre being taken down at the end of December, construction for DNA3 condos will be well underway in the New Year.

For more information on availability, click on DNA3 Condos.

Friday, November 4, 2011

Only a few units left at DNA3 Condos!

With construction of DNA3 Condos right around the corner, there are only a handful of units still available for purchase at pre construction pricing. From a small west facing studio unit to a stunning two bedroom two bathroom unit with a 260s/f wrap around balcony, there is something for everyone!

Click on DNA3 Condos for more information!

Wednesday, October 26, 2011

DNA3 Condos Construction and Incentives

With DNA3 Condos being one of the fastest selling new condos in King west, it is no surprise that construction is set to start in the next couple months. With that being said, this is your last opportunity to purchase before excavation on the site begins.

Remaining units vary from studios to stunning two bedroom layouts that boast wrap around balconies. Not only can you purchase two parking spots with these two bedroom units, but you only have to put 10% down. Don't miss out on this opportunity!

Click on DNA3 Condos for more information.

Tuesday, October 11, 2011

Studio Units at DNA3 Condos

A quick look at all the new condos being built in Toronto demonstrates that downtown Toronto condos are definitely getting smaller and smaller. It is no surprise that DNA3 Condos in King West will also be home to some smaller studio units. With one bedroom condo units with square footages averaging under 500s/f, it is no surprise that studio units are coming out in the 200-400s/f range. The question is, are these unit a good investment? In our opinion the answer is yes, for a few different reasons.

1. Studio condo units are great rental investment units. With their lower prices and smaller square footages, your carrying costs as an investor are significantly lower. Take for example in the King West area which is a tad west, just out of the core. Studio condo units in that area are renting out for an average of $1100 a month. As an investor, there is no question as to whether your cash flow will indeed be positive.

2. Studio condo  units are also great units for the first time home buyer. With Toronto Real Estate prices getting higher and higher, these smaller condo units are still entry level for first time home buyers who are looking to get into the market with a small amount of funds. You know the old saying about purchasing the smallest house on the street? Apply that same correlation to studio units which are located amongst higher priced Toronto condos.

3. Studio condos units are great for the individual who works full time in the city however have a home in the suburbs. Instead of fighting traffic on a daily basis, or worrying about catching the last train after a business dinner, studio condos provide the perfect option of staying downtown Toronto.

4. Studio condo units can also be used as short term furnished units. For example if a business executive needs to spend a few weeks in downtown Toronto, a furnished studio rental may be a more attractive option then a hotel room. Furnished condo rentals can command as much as $1800 a month.

For more information on the studios available at DNA3, click on DNA3 Condos.

Thursday, September 29, 2011

DNA 3 Condos Standard Finishes Can't be Beat!

With Toronto Condo builders getting more and more competitive with higher end standard finishes, it is no surprise that the standard condo suite finishes at Canderel Stoneridge's DNA3 Condos can compete with the best of them.

When purchasing Pre-construction Toronto condos, it is always important to clarify with your Realtor what features and finishes are standard in the unit model suite. From there, you can get a pretty good idea of how much you would need to budget for upgrades if the standard finished do not meet your approval. It is for this reason, we take our hats off to the standard finishes that will be found at DNA3 condos. They are as follows:

DNA3 Condo Kitchen- model suite

-9 foot ceilings

-Baseboards to be over 4 inches thick with 2 inch trim to match

-Ceilings to be smooth or exposed concrete

-European stainless steel appliances including a microwave

-Breakfast island

-Washer and Dryer

-Engineered wood flooring throughout except for in bathrooms and laundry room

-Ceaserstone counter tops in kitchen

-Undermount sink in kitchen

-Glass backsplash in kitchen

-Porcelain tiles on floor and walls in washrooms

-Modern vanity in washrooms

-Deep soaker tub in all suites

-Frameless glass shower in suites with two full washrooms

-Dual flush toilet

DNA3 Condo Bedroom - Model Suite

DNA3 Bathroom - Model Suite

As you can see from the extensive list, the standard finishes at DNA3 condos are hard to beat.
DNA3 Condo Living Room - Mode Suite

For more information on DNA3 Condos and other condos, visit our site all about Toronto Condos: DNA3 Condos.

Monday, September 19, 2011

Why invest at DNA3 Condos?

With an abundance of new condo projects launching in the downtown Toronto, there is no question that there is a lot more new condos for investors to choose from. The majority of these new condos that will be built in three to four years are located within the entertainment district. More specifically, east of Spadina, north of Queen, south of Front Street and west of University. It appears as though the entertainment district is slowly being turned into a condo community. With new condo towers being approved for over 40 storeys, this location of the city will soon be congested with new residents. Our question is:  "Are there too many people investing in these condos?" We feel that the answer is yes.

Even though the downtown Toronto location is centrally located, one has to question if buying in a condo with over 70% of investors is a smart choice. The problem with purchasing in these condo developments is that with such a large number of investors, one will be faced with the challenges of competing with multiple units when trying to sell, and secondly if a lot of the units are rented out, there is the risk of the condo building turning into a highly tenanted building. Unfortunately when this arises, the quality of the building has a tendency to diminish as end users naturally take more care in maintaining the unit and building it it's entirety. It is for these reasons that we have found that if investors look into purchasing in the east end of the city (west of Parliament) as well as the west end (west of Bathurst but east of Dufferin,) the potential of a greater return on their investment is stronger.

One condo project in particular that will be a great investment is DNA3 condos which will be located right at the corner of King and Shaw on the north west corner. The first two phases of DNA Condos which are DNA1 and DNA2 respectively,  which are already built on the opposite side of the street are a huge success in the King West neighbourhood. With many end users in these buildings, the resale values and rental values have been renowned to be some of the highest in the city. The key to achieving such high numbers is not only the high ratio of end users, but also the quality of the product used to build these two buildings. With the recent launch of DNA3 condos which will be the third and final phase, there is no doubt that this building will also achieve some of the highest resale values in the city. With superior finishes and amenities then it's prior two phases, DNA3 condos is set to be a landmark in the King West location. The occupancy is set for 2013 and construction is looking to start in the next couple of months. With this mind, investors still have the opportunity to purchase before construction has started as well as to buy into a building where there will be a large percentage of end users; thus setting them apart from other investors.

For more information on good locations to invest, and/or specifically DNA Condos, contact us at our site all about Toronto Condos: DNA Condos.

Monday, September 12, 2011

DNA3 Condo Update

With approval granted for the upper floors of DNA3 condos, it is no surprise that this condo will be a landmark in King West. Both condo towers will now be 14 storeys in total giving these upper floor units unobstructed views in all directions. This alone is rare to find in the King West area as zoning laws have proven to be quite rigid in the past. Considered one of the fastest selling projects in King West, there is no doubt that these upcoming new releases at DNA3 Condos will sell out just as quickly.

For more information on availability at DNA3, floor plans and assignment, click on DNA Condos.

Tuesday, August 16, 2011

Selling my DNA Condo :How much will I get?

We recently met up with a client who was looking to sell her DNA condo.  During our meeting it became very evident that her main concern was knowing what percentage of the asking price we expected to deliver to her.  Many Realtors use these statistics as a marketing tool for themselves by saying “Sold for 110% of the asking price!” As Realtors we know these statistics don’t carry much weight. However, from the perspective of a potential seller the listing agent looks like a superstar, right?

Pricing your DNA condo for sale is one of the most important parts of the selling process. Determining the listing price depends on a few factors, such as market conditions, comparable sales and of course the unit itself- taking into consideration layout, location and condition. There are few pricing strategies that can be considered once a seller is ready to go to market.

1. A common pricing strategy in a strong buyer’s market is to under price the property and hold off offers until a certain date. It is the seller’s home to generate a multiple offer situation which will in return push the selling price above the asking price. Although the selling price is above the asking price, it does not necessarily reflect that the seller got any more for the property than true market value. It is by using this strategy that you will see agents marketing themselves by stating they sold over the asking price. Keep in mind that a major concern with this strategy is that the buyer can’t actually afford the price of the property generated by the multiple offer situation. More times then none, their original budget was the listing price- not the selling price which can at times go as much as $50 000 over the original asking price.

2. Another strategy is to price the property at market value. This strategy is a safer strategy as it targets the right buyers. If a buyer has been financially pre approved for a mortgage, they know exactly how much they can afford.  An offer received that is conditional on financing approval will not be such an issue as the buyer’s have likely already been pre approved at the listing price.

3. A final strategy that is not as common as others is overpricing the property. This option works at it’s best when sellers have no urgency to vacate or don’t have any financial pressure to sell. A seller must carefully consider this option before listing their property as the buyer will most likely be someone who has been waiting specifically for that unit to come onto the market. In other words, the buyer pool will be much smaller for an overpriced unit, however an end user, who has been waiting for the unit will always pay a premium for their primary residence.

In short, don’t be fooled by marketing material that suggests that properties have been sold for well over 100% of asking. As you can see there are many different stratgies that can be carried out when deciding to list and sell your DNA condo. Take the time to carefully consider which option best suits you.

Click on DNA  to contact the Condo Chicks about listing your DNA condo for sale.

Friday, August 5, 2011

Condo TV Interview

The Condo Chicks were recently interviewed on their knowledge of the Toronto condo world. 

Click on DNA Condos to hire the Condo Chicks to sell or buy your next Toronto condo.

Tuesday, August 2, 2011

DNA 1&2 Condos or DNA3 Condos?

When it comes to purchasing a condo unit, many of our buyer clients ask us which is the better choice, buying a resale or pre-construction unit. The difference between the two being that one already physically exists and the other one does not. Deciding which route to take depends on a few factors such as timeline, motive and capital. In the case of DNA Condos on King Street West, buyers currently have the choice to go either way.  DNA Condos 1&2 are finished and can be moved in at anytime while DNA3 Condos will not be ready until 2013.

When purchasing a resale condo unit, such as DNA1 or DNA2 Condos, there are no surprises; what you see is what you get. You know exactly what you are getting into as you can physically visit the unit, see what finishes have been used, know how the management is running the building, etc. Generally speaking, items such as window coverings, light fixtures and built-ins are left behind by the sellers which are a bonus. Another positive aspect of buying resale is that a buyer is able to visit multiple units in different locations before making a decision to see which one best suits their needs. The down side of resale is that you are not the first owner of the unit and some prep work of the unit may be required before move in.

On the other hand, when purchasing a pre-construction condo unit, such as DNA3 Condos, you are essentially buying an idea and not a tangible item as the condo doesn’t physically exist yet. Instead of visiting the unit, you visit the sales center where you purchase off of a floor plan where you must visualize the space you are purchasing. The nice thing about buying pre-construction is that you are the first owner and everything is brand new. Like at DNA3 Condos, when color selection comes around, you can even pick the colors that you like best for your unit. Think custom made!  By the time the builder has sold enough units to start construction and construction has been completed, it isn’t until years later that you are actually able to move in. If you are looking to move into a condo unit immediately or within a short time period, then resale is the way to go but if you are able to wait a few years and have a flexible timeline then pre-construction may just be what you are looking for, such as DNA3 Condos.

The next thing to consider is motive. What is your reason for buying a condo unit? Is it to reside in or to flip? When buying a resale condo unit, you can potentially move in immediately whereas if you buy pre-construction you must be patient and flexible as the original occupancy date will most likely fluctuate. If it’s an investment that you are looking for, and the price is right, then pre-construction may just earn you that extra cash you are looking for. When buying pre-construction, you buy at today’s market price with the anticipation of the future market price being significantly higher.

Finally one of the most important elements of buying a condo unit is the cost and if you can afford the financial obligation. In either situation, a down payment must be made. In resale, on average a 5% down payment is given as a deposit with the offer. Depending on what has been arranged with the bank, a further deposit is paid to the bank upon unit closing. This deposit amount can vary from 5% down to 100% down, in which case a mortgage would not be required. When you purchase a pre-construction unit however this flexibility is not allowed. The builder has strict deadlines when deposits must be made. Usually a deposit is made with the initial signing of the documents, another one upon closing and then a few others in between which usually totals about 25% down.

A condo can be a great investment and a great place to live whether you purchase resale or pre-construction. Choosing which route to take depends mostly on your urgency to move but also on your financial situation and your reason for buying. In either case take the time to determine which route makes the most sense for you.

Click on DNA Condos for more information!

Tuesday, July 26, 2011

Tuesday, July 19, 2011

Units Available at DNA Condos

Currently there are a few units for sale in King West's renowned DNA Condos. They are as follows:

1. Two story one bedroom unit with parking listed for under $320 000

2. A one bedroom plus den unit with a locker but no parking listed for under $335 000

3. A two bedroom loft with two washrooms with both parking and locker listed for under $420 000

For a full list of available units for sale, contact us at DNA Condos.

June Market Update

The GTA saw 10,230 sales in June, up 21% from last June making it the 3rd best June on record.  This is quite the turnaround from the first half of 2011 -  down by 4.5% compared to the first half of 2010.

Average prices for June was $476,371, up by about 9.5% from June 2010 and up by about 8% from the average selling price for the first half of the year at $467,169.

Listing supply is down this year which is why we are seeing the average price increase. Buyer demand has pushed this price up in the second quarter of the year.

* Toronto Real Estate Board, New Release, July, 2011.

Tuesday, July 12, 2011

Pets at DNA

It's becoming a new trend for pets to be allowed in Toronto condos. It wasn't too long ago, that there were restrictions on having pets in your condo. This was inevitably a hard decision for downsizers with pets! The Condo Chicks are happy to share that DNA condos is indeed a pet friendly condo!

For more info on selling or buying in these King West condo buildings, contact us at DNA CONDOS.

Saturday, April 30, 2011

Builder of DNA Condos

For a lot of you that don't know, the builder of DNA Condos is Canderel Stoneridge. They were essentially the first builder to start development in King West with their first phase of DNA. After it's initial success, it was only natural for the builder to continue the DNA brand with it's second phase, and now selling it's third and final phase which is still in the pre construction phase.

Canderel Stoneridge has an excellent reputation for building good quality product. They simply put forth an effort to build their DNA condos with the highest quality finishes and features. It's this type of quality that maintains the high demand and resale values in these buildings.

For more information on buying or selling your DNA condo, click on DNA Condos for more information.

Sunday, April 17, 2011

TV Interview: April 18, 2011

We are excited to share with all of you that we will be interviewed this Monday, April 18th, 2011 at 9pm on the TV show “In Tune with Real Estate.” From what we have been told, it will be on channels 10 and 63.  We will be asked questions regarding the condo market as well as other elements that come into play when buying or selling a condo. Make sure you “tune in” to see what we have to say!

Saturday, March 12, 2011

Top Ten Real Estate Deals

The Condo Chicks are happy to announce that they are the Toronto Representatives for Top Then Real Estate Deals.  Check it out!

Click on DNA for more information on any of these deals!

Tuesday, March 8, 2011

Last chance to buy a unit at DNA3

 Here’s what is available:

1 bedroom +den, 1 bathroom   – 622 sq ft with a wrap around terrace
1 bedroom + den, 1 bathroom  – 564 sq ft with balcony (furnished unit)
2 bedrooms, 2bathrooms – 754 sq ft with wrap around balcony
2 bedrooms, 2 bathrooms  – 754 sq ft with terrace (BBQ hook up)

Click on DNA3 Condos for floor plans and pricing.

Thursday, March 3, 2011

Tips on Selling your DNA Condo

The current real estate market condition in Toronto is starting to pick up for sellers. The  market early last year proved to be a strong seller's market with condos sitting on the market for only a few days before selling. The  market today is definitely starting to pick up just in time for spring.  In the meantime, it's more important than ever to put the extra effort in when selling your Toronto Condo.
Here are a few tips when selling your condo in Toronto:
1. If the unit is vacant, staging can have a positive effect as it can help potential purchases visualize how space can be utilized.
2. If the unit is occupied it is extremely important to keep the space tidy. Surfaces should be clear, washrooms should be clean and dishes should not be in the sink.
3.It is to the sellers benefit to remove any paintings or objects with religious meaning. A simple religious object can limit potential buyers.
4. Be flexible with showings. If people can't get into see your unit, how can you expect it to sell?
5. If you are home when a showing is booked, step out of your home. Potential buyers will feel like they can't talk freely with their agent and will feel pressure to look quickly. You want showings to be a pleasant and comfortable experience.
6. Restrain pets. Even though Snoopy may be really friendly, a lot of people are scared of dogs.
A few little changes can make a huge difference when it comes to selling your home. A little more effort can set you apart from your competition during these market conditions.

Click on Dna Condos for more information!

Thursday, February 24, 2011

New Listing at Electra Lofts Located Beside DNA Condos

The Condo Chicks are listing a beautiful unit located in the heart of King West, located beside DNA Condos. With outstanding finishes and it’s boutique feel, this condo is a must see! Some more information:Originally built as 1+ Den, entire second floor  is a master suite, with walk-in closet.
Penthouse suite, south facing, view of lake.
Private rooftop terrace.
Main floor balcony.
1.5 bathrooms.
Large pantry closet and in-unit storage.
TTC at door step. Easy access to Liberty Village and Ossington / Queen West shops & Restaurants.
Locker storage included.
Parking Space included.
Brand new granite kitchen counters and sink. New carpeting on stairs.
Click on DNA Condos for more information!

To Barbecue or Not to Barbecue – That is the Question!

One of the things that people overlook when purchasing a Toronto condo is whether their new condo will permit them to barbecue. With more and more people choosing the condo lifestyle in Toronto, it can sometimes be very difficult to find a condo building that will accommodate aspects of a freehold home into your condo such as barbecuing. This alone makes your condo search a more challenging and frustrating task.
Many buyers are under the impression that condo policies on barbecues can be taken lightly. After all you do own the unit so why shouldn’t you be allowed to barbecue freely on your balcony or terrace? Unless you want a lawsuit on your hands, abide by the condo corporations rules.
According to The Ontario Fire Code, there are no restrictions on where barbecues can be located. The city of Toronto does allow balcony cooking however your condo corporation may prohibit these actions. An interesting fact is that it is the transportation of the BBQ on the elevator and the storage of the propane tank that is illegal not the actual barbecuing. By law, charcoal and wood fires used for cooking are legal however it is the condo corporation that will prohibit barbecue usage. To date, there have been many legal battles concerning barbecues on condos balconies; therefore it is best to do your research and due diligence prior to purchasing a condo in Toronto if barbecuing is an important aspect of your condo lifestyle.
With builders now realizing the demand for barbecuing privileges, the installation of natural gas lines on balconies and terraces in Toronto is becoming more and more common. Such units can be found in the DNA Condos, including the newest of the buildings, DNA3. Where natural gas lines are not present, the majority of Toronto condo buildings are attempting to accommodate barbecue lovers with a rooftop terrace if they are prohibited on individual balconies.
When searching for a condo in Toronto, it is important to ask your Realtor to only show you units where barbecuing on balconies is permitted. Once you’ve chosen the condo you would like to reside in and you’ve decided to put in an offer, make sure that your Realtor makes the offer conditional on your lawyer’s review of the status certificate. A portion of this document deals specifically with the barbecue rules and regulations of the condo building.
If you are interested in knowing which condo buildings in Toronto will permit you to barbecue on your balcony, or if you have a particular building in mind but are not sure about whether barbecuing is permitted, please feel free to click on DNA Condos for more information.

Friday, February 11, 2011

DNA3 Lofts

Incredible lofts have been released at DNA3 Condos. These two storey units boast 18 feet ceilings with floor to glass windows. With outstanding finishes and in what is anticipated to be an award winning building, these few units will not last. Don't miss out!

Click on DNA Condos for more information.

The Truth about Open Houses

The process of selling your condo can be somewhat stressful and as Realtors, it is our job to market and sell your property to the best of our ability with the least cost and disruption to you and your family. There are many tools that we use to help in the sale of your home but one common misconception is that open houses and advertising it in the newspaper sell your condo. While these marketing tools may seem like a good opportunity for you as the seller, the truth is, open houses generally don’t sell a home.
According to The National Associations of Realtors, only 1% of homes are sold by conducting public open houses. Realtors use open houses as more of a prospecting tool then a way to sell the home. It is not uncommon for a listing agent to pass on the job of hosting an open house to a newbie agent as there is a very low chance of the home selling through this avenue. For newbie Realtors, open houses present a great opportunity to meet prospects who are in the market for a condo. When parties come through the open house, the Realtor has them put down their information on a sign in sheet. In addition to being a security measure, this list allows the Realtor to follow up with them and help them in their home search.
Another type of open house is what is called an "agent open house." This type of open house allows Realtors in the neighbourhood to have the opportunity to visit the property before it is exposed to the public. What is commonly forgotten is that Realtors have access to the most important tool for selling your home and that is the MLS system. If an agent has a client for your home, they will book a showing for their client through the MLS system. Not only is the property advertised freely to all the Realtors on MLS, but is also published on the public MLS site. From the public MLS site, buyers can search for your home and contact the listing agent if they want to view the property.
Another common misconception that sellers have is that newspaper and magazine advertising increases the odds of selling your home. Again, according to The National Associations of Realtors, only 3% of homes are sold by advertisement inquiries. Also keep in mind that these advertisements can be very expensive.
Realtors understand that sellers want everything possible done to sell their home however, Realtors also know that conducting open houses and newspaper advertising generally will not sell a home. In reality, Realtors bring the most serious and qualified buyers so focus on the types of marketing that attract the Realtors; having a well put together home that shows well and pricing right and then the qualified buyers will follow.
If you are looking to sell your toronto condo or home, click on Condo Chicks for more information.

Monday, February 7, 2011

Future Site of DNA3 Condos

The site of DNA3 Condos! Anticipated to be finished in 2013. Great units still available! Contact The Condo Chicks for more information.

Friday, February 4, 2011

DNA3 Standard Finishes

DNA3 is a new construction condo going up at in the King West Neighbourhood at the corner of King and Shaw St.
Below is the the kitchen in the model suite so you can get an idea of the finishes. The nice thing about this project (and this model suite) is that all the finishes are standard – meaning no upgrades. There will be three different colour palettes to choose from – so what you see is what you get!
All DNA3 suites will have ( as a standard!) :
- Engineered hardwood floors
-9 ft ceilings
-In the kitchen : Caesar Stone countertops, glass backsplash, Italian cabinetry, a  kitchen island with colour-through high pressure laminate counter, halogen track lighting, stainless steel sink with chrome faucet, stainless steel appliances and an integrated fridge.

Click on DNA3 if you would like more information.

Tuesday, February 1, 2011

How high for a view?

One of the most common questions posed by Toronto condo purchasers is whether views are important. With the City of Toronto developing at such a rapid rate, it makes purchasing condos with unobstructed views a challenge. With builders understanding how views can be important to prospective purchasers, Toronto condos with unobstructed views definitely have purchasers paying a premium.
The first question you must ask yourself is if having a view from your balcony or windows is important to you. When you begin looking at Toronto condos, it is important for you to know that unobstructed views are very difficult to come by, especially on the lower floors. Even if you find a condo that has a great view from a higher level, always make sure to see if there is a parking lot below. If there is, keep in mind that the chance of a builder developing a condo on that lot is highly probable.
Once you have decided that an unobstructed view is important to you in your Toronto condo purchase, you must figure out what type of view is important to you. In the City of Toronto, the south view is considered the premium view. Depending which Toronto condo you are looking in, the south view can have both city and water views, which makes for an incredible sight. Builders have started to capitalize on this exposure by charging purchasers more per square foot when purchasing a south facing condo unit. If you move more south of the city down to the lake, south views are directly facing the lake. The views from these condominiums will never change and will always maintain their waterfront views. If you don't want to purchase on a high floor, but do want an unobstructed view, there are many condos on Toronto's waterfront that offer purchasers this option.
Buildings located in the centre of downtown Toronto can have stunning unobstructed views. The key is to be on a high floor. Developers have started constructing condos higher than ever in order to achieve these views from all directions. With south views being the most sought after, east and west views also have their advantages. For people who enjoy waking up early to sunlight, east exposure is ideal for them. On the other hand for those who enjoy to watch the sun set and to have longer afternoon light, it is the west exposure that is best suited for you. Ideally Toronto condos that are corner units, can provide double exposure of views. Corner units usually mean having windows in all bedrooms which can be a huge advantage when it comes time to sell your Toronto condo.
It is not only penthouse units in Toronto nowadays that have incredible views. In fact many high rise condominiums are offering unobstructed views from their normal suites- not only their penthouse units. A good view is important to many people, therefore purchasing a Toronto condo with a view can help increase the value of your unit when you go to sell.

Click on Dna Condos for more information!

Monday, January 31, 2011

Buying a DNA Condo

Purchasers, first-time home buyers especially, generally lack the knowledge to determine what they can afford when it comes to buying real estate and how the purchasing process actually works. Here is a step by step list on how the condo purchase process works:
1) Start by getting pre-approved by your bank or a mortgage broker. Knowing what you can truly afford gives you a starting point and a price point to search within. After all, it would be very disappointing to find a home you love only to find out it is not within your financial means.
2) Find a Realtor (Real Estate Sales Representative) you trust! This is very important as you will be sharing personal information about yourself with them. Talk to your Realtor about what you are and are not looking for in a property.
3) Now the fun begins. Once you’ve been pre-approved for a mortgage and you’ve found your trusty realtor, your realtor will then begin showing you properties of interest.
4) While on the showings, scrutinize each unit. Think about the location, building amenities, the potential future value, the unit layout and of course the price.
5) Once you’ve found the unit you would like to purchase have you Realtor research what the unit is actually worth and carry out their due diligence.
6) Now its time to make up the offer. Have your Realtor go through the offer with you. You may also want to have a lawyer review it.
7) Your Realtor will then submit the offer to the Listing (Selling) Realtor who will then contact the seller to review the offer. The other party has a set time period, called the irrevocable date, to either sign back or accept the offer. Within this irrevocable time, the buyer is held to the agreement. If the irrevocable date passes without contact from the seller, the deal dies and neither party is held to the agreement.
8) Once the buyer and seller have come to an agreement regarding the price and conditions the deal is now either sold firm ( no conditions) or sold conditionally ( usually conditional upon arranging financing or lawyers review of the status certificate). If sold conditionally, the buyer then has a certain time frame, as set out in the agreement of purchase and sale to waive the conditions. Once the conditions have been met, the buyer signs a waiver which then makes the deal firm.
9) On occupancy is when the buyer and seller meet with their respective lawyers to exchange the property keys for payment. The title of the property is then switched over from the seller to the buyer and the buyer is then given entry and ownership to the property.
Buying real estate is an exciting process. It can also a stressful and complicated process so it’s important to hire a Realtor you trust. After all, buying real estate is one of the largest investments you will make!

Click on Dna Condos for more information.

Saturday, January 29, 2011

DNA Condos are Pet Friendly

One of the things that people overlook when purchasing a condo in Toronto is whether their beloved pet will be allowed to accompany them to their new home. With more and more people choosing the condo lifestyle in Toronto, it can sometimes be very difficult to find a building that will accommodate your pet which in turn makes your condo search a more challenging and more frustrating task.
Many buyers are under the impression that condo policies on pets can be taken lightly because after all you do own the unit, why shouldn’t you be allowed to bring your pet? Unless you want a lawsuit on your hands, abide by the condo corporations rules. To date, there have been many legal battles concerning the pets in condos; therefore it is best to do your research and due diligence prior to purchasing a condo in Toronto if you plan on moving with your pet.
Many condo buildings have rules and regulations that do not allow pets at all or have put restrictions on the size of your pet. Here’s what you can do to ensure you pet can move along with you:
Ask your real estate sales representative to only show you units where pets are permitted. Once you’ve chosen the condo you would like to reside in and you’ve decided to put in an offer, make sure that your real estate sales representative makes the offer conditional on your lawyer’s review of the status certificate. A portion of this document deals specifically with the pet rules and regulations in the condo building, outlining the number, size and type of pets. Even if pets are permitted, any animal that is considered to be a nuisance or dangerous to the health, safety or welfare of the community is prohibited.

Click on DNA CONDOS for more information.

Friday, January 28, 2011

The Condo Chicks win an Award

The Condo Chicks recently won an award from Buzz Buzz Homes!

Lower Maintenance Fees at DNA Condos

Buying a condo essentially means buying into a low maintenance way of living. Condos can be an affordable and stress free way to live as each month the owner pays a maintenance fee to cover certain common costs of the building. While having a low maintenance fee is ideal there are other factors to consider such as what is included in the monthly maintenance fee and the financial health of the buildings condo corporation.
Maintenance fees are paid to the condo corporation each month to cover common expenses in the building such as pool maintenance, security guards, grounds maintenance, etc. Maintenance fees are usually based on the size of the condo unit (square feet) therefore the larger the unit, the more the owner is contributing towards paying the common building expenses. Each year maintenance fees usually increase, as features of the building begin to wear out and need to be replaced and service contracts increase. This is why older condo buildings usually have a higher maintenance fee than newer ones. In addition, the more amenities a condo building offers its residents, such as a swimming pool, also contributes to a higher maintenance fee.
Many times I have buyer clients asking me to find them a condo with low maintenance fees. It’s not so black and white. You have to ask yourself a few other questions like what expenses do the monthly maintenance fee include? Does it include Heat, Hydro, Water, central air and building insurance? Each condo is different so make sure to find out exactly what is included. One condo may offer a low maintenance fee but utilities are not included whereas another condo may have a higher fee but you don’t have to worry about added utility bills.
Another thing to consider is the financial health of the condo building. Check with the property management to see if the monthly maintenance fees have been increased lately or if there is an increase scheduled for the near future. Special assessments are also important to take into account. Large repairs such as replacing the roof, are big ticket items. Depending on the situation of the condo corporation, they may choose to bill each unit owner their portion of the cost of the repair. The owner maybe required to pay in one lump sum or may be able to pay for it monthly for a certain time period. This cost is in addition to the monthly maintenance fee.
So next time you are looking for a condo with low maintenance fees make sure you take these other factors into consideration. Have your lawyer review the financial situation of the condo and only then you can decide if the maintenance fees are truly ideal.

Click on DNA CONDOS for more information.

Thursday, January 27, 2011

Tips on Selling your DNA Condo

When selling your condo, it is extremely important to show it at its potential. Here are a few simple things you can do to increase the attractiveness of your condo unit to potential buyers while still keeping within a budget. Some of these items are do-it yourself projects and some require the help of a professional. Either way these changes will help you get top dollar for your condo unit and also have a great return on investment.
In cost ascending order, here is what you can do to better present your condo unit for sale:
1) De-clutter and de-personalize– This is probably the most cost effective yet easy improvement you can choose to do. When it comes to showing your condo, less is more. Remove religious items, family photos, gadgets and knickknacks. Keep in mind you want the buyer to remember the condo unit and not your extensive collection of DVD’s.
2) Clean – I know you are busy, but grab the vacuum and the glass cleaner and get rid of those dust mites and smudgy windows. People can not envision themselves living in a dirty home.
3) Upgrade hardware – Are those handles on your kitchen and bathroom cabinet doors still from the 90’s? Changing the hardware is a simple and cost effective way to give a new, modern look to an old cupboard door.
4) Upgrade light fixtures- Change old, outdated light fixtures and electrical cover plates. These are cheap to replace yet make a huge difference in the appearance of a room. Don’t forget to make sure to replace burnt out light bulbs as well.
5) Paint – Freshen up the interior of your condo unit with a new coat of paint. Use a neutral colour to make the space appear larger than it is and also to allow the buyer to envision their own furniture in the space.
6) Upgrade flooring – If it’s in your budget, replace old broadloom with simple, neutral broadloom or hardwood floors. If hardwood is way out of your budget, opt for laminate.
7) Kitchen Upgrades – One of the first areas in a condo a woman looks at is the kitchen. If it’s not in your budget to re-model the kitchen then consider replacing those old appliances with stainless steel. Stainless steel appliances are sleek and will give your home that modern touch.
In today’s buyers market it is more important than ever to make your condo unit more attractive to potential buyers. After all, you only get one chance at a first impression so why not make it a good one!

Click on DNA CONDOS for more information.

Selecting a Realtor to Buy or Sell Your DNA Condo

In the City of Toronto, it seems that everyone is in real estate, is getting into real estate or knows someone in real estate. It is definitely an industry that has seen an over saturation of real estate agents. Currently there is over 30 000 real estate agents registered with the Toronto Real Estate Board. That is a lot of agents to choose from when looking for representation for your condo sale or a condo purchase. Therefore how do you make the choice? The following tips will help you find the best agent for you.
1. Find an agent in the area or building you are looking to sell or buy. This is an important part of the selection process. Agents become “experts” in certain areas therefore they have the inside scoop of buyers and sellers in the area. A lot of the time they will know when someone is looking to list prior to which can essentially give you an edge when looking to buy into the condo building. On the flip side, if you are looking to sell your condo, an agent that is working in the building, will also have a pool of buyers looking to get into the building thus giving you an advantage.
2. If you are looking to buy a pre construction condo, it is an advantage to be represented by a seasoned pre construction agent in Toronto. A lot of developers open their doors first to what is called VIP real estate agents. These agents are allowed to purchase condos prior to the building being opened to regular brokers as well as to the public. The price per square foot will be at the lowest point, thus making your investment a lot more beneficial. Ask your VIP agent if he has sold for that particular builder before and if he has special VIP access.
3. Referrals are also an indication that a real estate agent has done a good job in the past. Ask your friends and family if they were particularly happy with the services provided by an agent in the past. It is always re assuring to know they have done a good job with other clients. A referral is essentially a real estate agent’s resume.
4. Communication while selecting a real estate agent is key. Don’t be shy to sit down with a few potential agents and tell them what you are looking for in services. Real estate agents work in different ways, therefore you have to find the one the works best for you. You are essentially interviewing for a job. You must be comfortable with the agent and be prepared to establish a working relationship that makes everyone happy.
As there are many reputable and established real estate agents in the City of Toronto, the selection process can be somewhat tiresome. By taking into the consideration the above mentioned tips, you should be able to find yourself an agent that will be able to sell your condo, find you a condo to live in or invest with no problems. It is quite the norm to have a few different agents to help you out in the different aspects of Toronto Condo Market.

Click on DNA CONDOS for more information.

Friday, January 21, 2011

New Mortgage Rules when Buying a DNA Condo

Finance Minister Jim Flaherty has just released some info on new rules for CMHC insured mortgages, which will be implemented as of March 18th. A CMHC insured mortgage occurs when less than 20% is put down on a purchase of a property.
For home buyers with a CMHC insured mortgage, the new rules will effect mortgage amortization. Amortization will be changed from 35 years to 30 years.  On average this change will increase monthly payments by around $40 for every $100K borrowed. Down payments for purchases can still be 5%.
In terms of refinancing, the max mortgage advance will be 85% of the appraised value. This loan to value number used to be 90%.
Good news is that these new mortgage rules will help to keep interest rates low. The Bank of Canada has announced no prime rate change, leaving variable rate mortgages and credit lines as is. Flaherty hopes these new rules will help to keep Canadians spending in check.
We have about 2 months before the new rules come into play (March 18th). If you are looking to purchase a Toronto condo, make sure to visit the bank or your mortgage broker soon to arrange financing. Contact the Condo Chicks below in you are looking to purchase or sell a Toronto Condo.

Saturday, January 15, 2011

DNA Condos Availabilty

Currently there are some great  units remaining at what will be one of the most superior Toronto Condos in King West, DNA3 Condos. Units range from  500s/f to over 700s/f.  These units will all have outstanding finishes.

Contact The Condo Chicks for availability.

Thursday, January 13, 2011

DNA Condos For Rent

Currently there are some 1 and two bedroom units for rent at Dna Condos. For a viewing, contact
The Condo Chicks.

Sunday, January 9, 2011

DNA1 and DNA2 Condos Market Update

In the last 30 days in Toronto Condos DNA located in King West:

1. There is a 1 bedroom plus den unit with both parking and locker available for just under $320,000.00
2. There is a 2 bedroom unit with both parking and locker available for just under $400,00.00
3. A 1 bedroom plus den unit with both parking and locker sold for just under $350,00.00

If you're interested in buying or selling in DNA Condos, contact The Condo Chicks

Saturday, January 8, 2011

DNA Condos 1005 King Street West & 1 Shaw Street

In the heart of King West are the DNA Condos and Lofts (Downtown’s Next Address). 2 towers make up this complex (Phase 2 at 1005 King). Ultra modern suites feature polished concrete or hardwood floors, stainless steel appliances, and granite counter tops.Walk to Queen and King St W and Liberty Village shops, restaurants and 24 hour Metro. Java lovers can get their morning coffee at the Starbucks on the main level of the building.

LOCATION: 1005 King Street West & 1 Shaw St (South side of King and east of Shaw)

FEATURES: Gym, meeting rooms, security guard and system.

DEVELOPER: Canderel Stoneridge

A third tower, DNA3 is going to be built on the North side of King St. Sales at the 3rd tower was launched in the Spring of 2010.

Contact the Condo Chicks if you interested in buying or selling a unit at DNA.

Friday, January 7, 2011

King West is the Place to Be!

 The Toronto Condo Market has demonstrated it’s strength in the past six months. With interest rates at an all time low, there is not enough inventory to satisfy buyer demand. The high demand areas in the City of Toronto such as the Bay Street Corridor, CityPlace and the Entertainment District are experiencing dramatic increases in the prices per square foot due to the increasing demand of buyers wanting to be in these locations. Just a year ago, some condos in these areas were selling for $450 s/f. You can’t find anything in these locations at that price point anymore. It is for that reason, that locations  such as King West are gaining momentum.
Many may argue that King West extends as far as Liberty Village, which is not the case. “True” King West technically ends at King and Strachen. Over the past few years, King West has become recognized as a prime location for condo buyers. Even though it may not be as centrally located as condos east of Spadina, it is for this reason this location is grabbing the attention of buyers and investors. With buildings being zoned as low rises and an abundance of greenery, these aspects alone are very appealing to buyers.
Another factor that is appealing to buyers and especially investors, is the price per square foot. With buildings selling in the $300.00 s/f range just five years ago, owners in King West have made a great investment. With the average price per square foot now being well over $500.00, investors are flocking to the area hoping that only in a short time, prices will catch up to the $600.00s/f as condos in “prime locations.”
A lot of developers have started to jump on the King West opportunity. Recently, projects such as Art Condos and Minto at 775 King West have launched hoping to take advantage of the King West intrigue. Canderel Stoneridge, who is responsible for condo buildings DNA1 and DNA2 has successfully launched their third and final phase of their DNA series. Having essentially being one of the first to make it’s mark in King West, their third and final phase, DNA3 is expected to be one of the most sought out buildings in the City. This final phase will be built in the old Chrysler parking lot, which is the last prime location in King West.
For information on any other condos in the King West area, contact the Condo Chicks!