DNA3 Condos Construction Update: March 2013

It's been awhile since we last checked in at the DNA3 Condos construction site. We were quite surprised to see that it has progressed quite quickly. With colour selection well underway, it is quite apparent that completing DNA3 Condos is on everyone's agenda. Keep checking in with us for more DNA3 Condos construction updates.

 

For more information on DNA3 Condos click on DNA3 Condos

DNA1 and DNA2 Condos Market Update

With the standard slow down of the real estate market in Toronto, there is no evidence of a slow down of sales at both DNA1 and DNA2 condos.  Here are a few recent sales in both 1 Shaw Street and 1005 King Street:

1. 1 bedroom unit with both parking and locker sold just under $320 000
2. 1 bedroom plus den unit with both parking and locker sold in the $335 000 range
3. 2 bedroom with 2 bathroom with parking or locker sold under $430 000


Currently there are a few units up for sale in both DNA1 and DNA2 Condos:

1. 1 bedroom unit with parking priced just under $340 000
2. 2 bedroom unit with 2 washrooms with NO parking or locker priced at around $425000

For more information on buying and selling in DNA1, DNA2 and DNA3 Condos, click on
DNA Condos

DNA3 Condos Construction Update: July 2012

A visit to the DNA Condos site in King West showed us some new activity on the site! Not only is excavation coming to a finish but the anticipated crane is now up making it's statement in the neighbourhood.

With DNA3 Condos being one of The Condo Chick's favourite sites in the city, stayed tuned for more picture and video updates coming soon!

For more information on the status of DNA3 Condos and for upcoming assignments, click on
DNA3 Condos.

DNA3 Condos Construction Update June, 2012

A quick visit to the DNA3 construction site showed that they are still digging! We promise that construction updates will be more exciting once the condo starts going up!

Check back with us for more information on DNA3 Condos construction updates, DNA3 Condos for sale and upcoming DNA3 Assignments.

DNA3 Condos Update

With the New Year well underway, it's safe to say that DNA Condos in King West has surpassed the industry's expectations. Being the fastest selling project in King West, it is no surprise that construction has started. DNA Condos launched the two 12 storey buildings about a year and half ago. The demand was so intense that the builder went to the city to acquire two more floors for both towers. After being approved, these penthouse floors sold just as quickly as the original towers. With only 3 units left out of the 600 or so units, this is your last chance to invest in DNA Condos which will be a landmark in the King West neighbourhood. For more information on DNA Condos and upcoming assignments, click on DNA Condos.

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.

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!

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.

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!

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.

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.

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.

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.

World of Condos Interview

The Condo Chicks are happy to share their recent TV interview regarding all about condos!
Click on Toronto Condos and enjoy!

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.

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.

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.

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!

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.