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REAL ESTATE NEWSLETTER
Exceptional Real Estate ... Exceptional Realtor
THE BEST IN THE WEST
Top 10 Neighbourhood Gems
LYNN TRIBBLING 416 252-2221
Hello again friends, clients and neighbours,
This issue is a little love letter to my “hood”, Humber Bay Shores. I don’t want to sound too Kumbaya, but my affection for this community is genuine and borders on rhapsodic. I have lived in South Etobicoke for more than 15 years and watched the area transform from derelict waterfront motels to a shimmering village of luxury condos.
When I first moved to the area , there were no stores or amenities. The area was a commercial wasteland. I would drive all the way to the Super Loblaws and the Vintages LCBO on Queens Quay downtown for supplies.
Times changed. Today there are some 20 glass and steel residential towers, a population of 6000 and a projected growth to 20,000 in the near future. Now, dozens of new services, outlets and retailers are springing up in the area to meet the needs of the dramatically expanding community. Humber Bay has become a bustling new commercial hub, a small vibrant satellite city, where you can find all the necessities and luxuries of life.
This Newsletter features my personal picks for the best businesses, best dining and best shopping. I invite you to learn about these unique commercial gems. These pioneering entrepreneurs, stores, shops, businesses and restaurants make Humber Bay a wonderful place to live.
I am not alone in my praise for the area. Toronto Life named our area one of Toronto’s top neighbourhoods. Humber Bay has it all. Mimico rocks!
Please join me in saluting these hard-working, ingenious, local business people who make the neighbourhood special. They inspire me to ask proudly and rhetorically, “Why would you want to live a anyplace else?”
Your leading neighbourhood enthusiast
TOP 10 BUSINESSES
SERVING HUMBER BAY SHORES
Here are my personal picks for the Best in the West. Let me know if you agree or would like to add your own favorite business to the honour list. If there were a special awards night, in my view, the trophies should go to these ten local stars. Ta-da! Drum roll please...the winners are:
(CLICK LOGO TO VISIT BUSINESS WEBSITE)
3. BEST FINE DINING: LAVINIA RESTURANT
Authentic Spanish cuisine, fab wines and service. Charming owner.
Classy, 5-Star dining experience. 2350 Lake Shore Blvd W.
4. BEST SUMMER PATIO: EDEN TRATTORIA
Popular lakeside gathering place for families and date nights. Great food, stunning lake views, high-voltage vibe. 58 Marine Parade Drive
5. BEST PUB: FIRKIN ON THE BAY
Lively, happy spot, casual sports bar with tasty pub-grub.Nightly specials, wide selection of beer and ale. 68 Marine Parade Drive
7. BEST BUFFET: SPOON & FORK
Endless sushi, tempura, Thai curries, perfect for parties/special celebrations. Something for everyone. Excellent value! 1233 The Queensway
8. BEST SAILING CLUB: MIMICO YACHT CLUB
Great bar and resturant, inexpensive social memberships. No boat required.
Year-round events and social activities.200 Humber Bay Park Road West
THE BEST CONDO IN THE WEST:
THE WATERFORD, 2095 LAKE SHORE
There are many superb luxury buildings in the neighbourhood, like Palace Pier, Palace Place, Newport and Grand Harbour, but The Waterford stands out. It is my personal pick for the top waterfront condo in the area. Why?
Built in 2005, The Waterford is a small, boutique building which is rare in an area dominated by massive, high rise structures. It is only10 stories with 50 spectacular suites. This mid-size configuration appeals to many, is unique to the area, and adds to its exclusivity.
Unlike other buildings where their is a mixed demographic, there is a homogeneity of ownership in Waterford. Residents are generally mature, affluent and accomplished. VIP owners include business notables, professionals, sports stars and media luminaries. Buyers take comfort in knowing who their neighbours will be.
Waterford is distinguished architecturally by large units, the average size is 2000 s.f., and some suites are over 4000 s.f. There are no small suites and very few rentals in the building. New buildings rarely offer such spacious residences.
Waterford enjoys a stellar reputation as the uber-lux address. A unit which sold for just under $3,000,000. (happily, my listing) set the benchmark for top price in W06. This record-breaking sale helped solidify Waterford's cache as the creme-de-la-creme address.
Structurally, 2095 Lake Shore is unique. The building has private elevators and huge open terraces with gas hook-ups for BBQ's. Some patios exceed 3000 s.f. which are the largest in the area.
Standard Interior finishes in the Waterford are top quality. There is no need for buyers to upgrade. Features include: solid hardwood, 7-ft. doors, gas fireplaces, built-in sound systems, smooth ceilings, steam showers, designer kitchens top appliances, double wall ovens, wine fridges and stainless steel pantries. Waterford is posh plus!
ADDRESS: 2083, 2087, 2095 Lake Shore Blvd W
BUILDER: Canderel Stoneridge
AMENITIES: indoor lap pool, saunas, change rooms, fully equipped gym, yoga room, billiards, 2 rooftop party rooms, shops and popular Italian restaurant in building. T.T.C. at door with direct buss to subway.
HOTTEST NEW REAL ESTATE TECHNOLOGIES:
VIRTUAL STAGING AND DRONE PHOTOGRAPHY
The results are breathtaking and help sell your home faster and for more $$$. I offer both services in my listing package. I love learning new things to help my clients. These innovative marketing tools are a revolution in property promotion!
Transform an empty room into a stylish showcase with computer technology!
Capture thrilling arial images of your home to dazzle potential buyers with amazing new drone technology!
THE BEST REAL ESTATE ADVICE:
TIPS FOR BUYERS: Realities of Pre-Construction Condos
TIPS FOR REAL ESTATE INVESTORS: Strategies for Success
TIPS FOR SELLERS: How to Prepare Your Home for Market
480 Queen's Quay
Harbourfront $9500. P/M
RARE EXECUTIVE LEASE
Posh Penthouse, Iconic V.I.P. Building
Spacious 3000 sq.ft., 2 Terraces, Stunning Views!
So far, 2016 has broken all real estate records. Average prices have increased more than $100,000, since 2015. Homes are selling quickly and in many areas, for as much as 20% over list price. The average sales price has skyrocketed to nearly $800,000! Consider that just 10 years ago, the average home in the GTA sold for approximately $350,000. (SEE CHART)
There seems no end in sight for wildly escalating values, but some pundits are predicting this explosive trend may not be sustainable. They point to the fragility of an over-heated market in Vancouver where a recent government introduction of a 15% foreign "spec tax" triggered a dramatic 26% decline in sales.
AFFORDABILITY CRUNCH FOR BUYERS:
Historically, there has never been a better time to be a seller. Clearly, now is the peak moment to capture the momentum of this crazy-hot real estate market in Toronto.
For buyers, however, prospects are dismal. Many purchasers are being priced out of the market. Incomes are simply not keeping up with inflated house prices. The income required to buy an average home at $800,000 is $150,000 per year, plus a hefty deposit of at least $200,000, which is out of reach for most, especially young buyers.
Currently, buyers need to dedicate nearly half of their monthly income to support their home. Interestingly, in 1988 when prices jumped so high it took 55% of monthly income to afford a home, it created a tipping point. The real estate market collapsed.
Bubble? No bubble? Only time will tell.
Best advice: Sellers, act fast! Buyers: proceed with caution!
DEEP THOUGHTS ABOUT HIGH PLACES
By Lynn Tribbling, Ardent of Purveyor Penthouses.
I have had a long-time love affair with Penthouses. Over the years, I have always lived in penthouses and sold hundreds of them in some of the best buildings in the city. Recently, I sold for the same spectacular Penthouse in Kings Landing, for the third time!
A prudent person might ask, what motivates us to snap up expensive Penthouses when comparable suites on a lower floor costs 25% less? Equally intriguing, is why someone would pay hundreds of thousands of dollars extra for the thrill of pressing the P.H. button on the elevator? Sounds irrational, but I think the reasons are soundly rooted in sociology, psychology and logic. Life at the top, in a palatial Penthouse, offers three seductive advantages: Prestige, Privacy, and Privilege.
Social psychologists tell us that height and elevation, in every culture, are associated with superiority. Listen to the suggestive nuances in our language implying upper is better: “pinnacle of success”, “peak performance”, “top of the heap”, and “high society ”. Being close to the ground connotes the opposite, diminished rank: “down and out”, “low life”, “bottom of the barrel”, and “over the hill”.
Status is as real a need as food, and shelter. Ask Maslow. Conspicuous social standing is a deep-seated drive, hardwired in our brains since primordial times. This subliminal urge compels the rich and super-achievers to aspire penthouses. Ask Trump.
Condo developers recognize this symbolic linkage between height and prestige. In new projects, they demand, and get tens of thousands in premiums for high floors. Also, limited availability of Penthouse suites, due to simple economics of supply and demand, adds to the prestige and pride of ownership. Exclusivity creates desire. This striving for standing is reflected in our preference for exclusive cars, fine jewelry, exotic trips, and haute couture. A $50 watch tells the time as well as a $50K limited-edition time piece, but it does not communicate that you have arrived.
Another magnet of penthouses is, privacy. Typically, Penthouses are larger than other suites, with only two suites per floor, or sometimes the Penthouse occupies the entire top floor. This means that there is no neighbour beside you to blast the stereo; no one above you to flick cigarette butts on your terrace; and no one across from you to catch you disheveled at 6:00 a.m. groping for the paper! Some buildings have individually keyed elevators, so that the top floor is accessible only to Penthouse residents. Not only is privacy assured, but also security. The penthouse is a modern-day fortress insulating you the clamor and calamity of the masses.
Penthouse owners enjoy perks which are not available to residents on lower floors. namely, structural upgrades only possible on the top floor. These alluring architectural features which add pizzazz to penthouse living, include: high ceilings, skylights, domes, vented wood-burning fireplaces, spacious rooftop terraces, hot tubs, private gardens, B.B.Q. and entertaining areas. The finishes are custom, the layouts unique and the amenities bespoke. Everything is one-of-a-kind.
Probably the most irresistible appeal of penthouse living is the jaw-dropping, heart-stopping, panoramic view from the top floor. In real estate, the 3 most important factors in buying are: Location. Location. Location! Within a specific condominium, the same principle prevails. Top is best.
It seems fair to conclude that the three magic words in selecting a condominium are: Views. Views. Views!
Penthouse View From
Lynn's Recent Sale:
THE LIGHTER SIDE
WATCH THIS ...
PROBABLY, THE WORST REALTOR PROMO VIDEO EVER!
Sales Representative, Right at Home Realty Brokerage
DIRECT: 416 252-2221 OFFICE: 416 391-3232
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(**DISCLAIMER: Not intended to solicit listed properties or buyers under contract. All information is approximate and subject to change. Cover letter photo source North Cape Furniture Collections, Non-proprietary photos courtesy of Googe images.E.& O.E. )