Corso Italia

Across Canada, Canadians are familiar with Corso Italia.  Its fame hit a high when Italy won the 1982 World Cup and in excess of 500,000 people celebrated on St Clair Avenue.  Its fervour for all things Italy comes naturally, as it is the first home for the largest influx of Italian immigrants to Canada around the turn of the 20^th century.

Corso Italia, also known by many Canadians as Toronto’s “Little Italy, is home to the first licensed outdoor cafe in Toronto – La Sem Pattiserie Cafe – licensed in 1963.  That first cafe can claim to be the grandfather of the myriad outdoor cafes that flourish during Canadian summers in every major town and city in every province, and the grandpa of the numerous “Little Italy” retail/restaurant collections in other Canadian centres.

While Italian still is spoken by many residents on the street, Portuguese people make up 26% of the population, with strong representation by Turks, African and  South American (Brazil) nationalities.  Like the original British and Scottish (and, then, Jewish business) settlers in the area, many Italian families, as they prospered, moved out of the area into more trendy, upscale communities.

Contrary to popular wisdom, the mobility of the ethnic populations, the varied mix, and the more modestly priced homes have not resulted in pockets of crime.  The area, indeed, boasts one of the lowest crime rates in the city, and is an inviting place day or night. Particularly during World Cup, Portugal, Italy and Brazil fans intermingle in a friendly rivalry that is uncommon in many soccer stadiums around the world.

In spite of being an eclectic mix of nationalities today, Corso Italia remains the “centre of the Canadian universe” for celebrating Italian culture, during its annual Fiesta street party.

No celebration of Italian (or any) culture would be complete without savouring ethnic foods.  There is no shortage of great Italian restaurants in the area (Big Ragu, Marcello’s, La Paloma’s Getali, Tre-Mar Bakery, Novocento), as well as a fine mix of Portuguese, Brazilian, Mexican & Vietnamese food outlets.

Corso Italia has developed a solid reputation as the place to find European fashions, unique food products, and innovative clothiers, housewares & unique retailers.

Transportation, education  & housing stock are positives for the area.

The St Clair streetcar project is set to open, both to the dismay and joy of proponents and opponents of the initiative.

Older homes in Regal Heights mingle with more modest two- and two-and-one-half detached homes.  Many are early 1900s homes, with brick fronts, verandas and bay windows.  Owners have commonly undertaken interior renovations, leaving the exterior character intact.

While Clinton Public School may celebrate its 125^th birthday in 2013, it is far from old in outlook and attitude.  In 2009, it received the Gold status in Eco-school Certification, offering a litterless lunch, recycling program, revitalized yard with newly planted trees and an outdoor classroom.  Notable alumni include Leo Timmins and hockey player, Connor Byrne.  Other local  schools include Dewsen Street Junior Public School and Harbord Collegiate Institute.

Corso Italia may be recognized Canada –wide, but locals know it, more intimately, as a welcoming and diverse community.

 

Brockton Village

Like many of the villages and small communities that have their origins in the early- and mid 1800s, Brockton Village was named after a well-known Loyalist  commander. The dispute, however, is whether it was named after Sir Isaac Brock or Captain James Brock, his first cousin.  The land, however, was owned by James Fitzgibbon’s widow, Lucy, and John Dunn just prior to being subdivided into village lots in 1860.  Colonels Dundas, Givens and O’Hara also held considerable land in the area. In 1884, it was annexed by the City of Toronto.

While land owners of some fame lend their names to the history of such communities, it is the influx of new residents that provide its flavour and character.  Brockton Village’s flavour derives from the early Portuguese, then Brazilian, and, today, even Vietnamese residents. Its earliest settlers, though, were Irish immigrants, arriving during the great potato famine of Ireland in the 1840s.

The old village town hall, erected in 1882, was converted, at the request of the village council at amalgamation by Toronto, to a fire hall, police headquarters, public hall and free library.  It still stands, converted to commercial use.

Today, home buyers can choose from a diverse array of housing.  A large number of the homes have older, brick exteriors, wrought iron railings and font porches.  These houses date back to 1880-1920.  Many served time as rooming houses, before finding their way back to individual homes. With narrow homes and lots, the houses rub shoulders with each other.  However, newer developments offer more contemporary looks.

Schools in the area include Brock Jr., Kent Sr., Shirley St. Jr., or City View Alternative School Sr.

Brockton Village residents choose from a wide variety of shopping experiences, and are close by many malls and different retail and restaurant options. High Park (a 399-acre park well-known in Ontario) is within easy walking distance.  The lakeshore is comfortably close, where a beach, outdoor pool, waterfront trail, and home of the Canadian National Exhibition beckon. The Ricoh Coliseum, Direct Energy Centre, Medieval Times Dinner Theatre, and other unique entertainment experiences are close at hand, as well.

Because of its key location, residents are moments away from downtown Toronto, and have easy access to Lakeshore Boulevard and the Gardiner Expressway.  Excellent bus and streetcar access is also available.

While Brockton Village lacks the local fame of other nearby communities, like Roncesvalles Village, or the distinctive cultural identity of Corso Italia, it provides a very welcoming, eclectic mix of experiences for residents that is helping to drive its reputation as an affordable, attractive community in which to live.

 

7 tips for successful real estate investing

Many people think being a landlord and investing in real estate is a way to make easy money. It can be financially rewarding if you do your homework and reduce your risks. But easy, it isn’t and it can lead to financial ruin if not done properly.

Moneyville columnist Alison Griffiths wrote about her adventure as a landlord

earlier this year. It’s a humorous look at what can go wrong and the lessons learned, but anybody thinking about an investment property might want to read: Why did I think being a landlord was easy money?

The trick is to end up with money in your pocket at the end of the month after paying your bills and collecting the rent as you slowly pay down the mortgage

and end up with a nest egg. Here are some tips:

• Research the area where you’d like to buy. Is it in decline or on the way up? A good indication is if chains like Wal-Mart, Tim Hortons and Home Depot are moving in. These companies do a lot of work on demographics and income before deciding where to locate. You can get a big picture look at vacancy rates at settlement.org, a federally funded site that helps immigrants with information and resources to settle in Canada.

• Use a real estate agent who also is an area investor. Ask them to show you their properties and the rents. Ask for the names of other investors they have helped. Call them. Make sure they have a team of professionals you can use, such as property managers, insurance advisers, mortgage brokers, home inspectors, accountants and lawyers.

• Once you own more than four rental units, find a reliable property manager. You don’t want to take a call in the middle of the night. A rule of thumb is that you should allocate up to 10 per cent of monthly rent to a property manager. They will make sure your building is properly maintained and can help find tenants.

• Do not be in a hurry to rent a vacant unit. Take your time to qualify any potential tenant, since it can take months to evict a problem tenant. Call all tenant references, ask for a current pay stub and speak to at least two prior landlords. Where possible, require the tenant to pay for utilities. The tenant will have to apply to the utility company for an account, which amounts to an extra credit check being done by the utility company.

• Be careful with basement apartments and homes rented to students. Although these units can provide additional income, you must make sure that they are legal, comply with the fire code and have any required licenses to operate.

• Buy and hold your property for the long term. This way, you have an income and slowly start to pay down your mortgage.

• If you are investing with others, have a partnership agreement. Problems may occur later if the friendship breaks down, especially if one partner loses their job and cannot pay their share of expenses, or if one partner wants to sell while the other does not. With a partnership agreement, you can provide what will happen in these situations in advance, without having to pay costly legal fees to figure it out later.

Investing in real estate is not easy. But by taking the proper precautions, it can be very rewarding.

 

Mark Weisleder  is a lawyer, author and speaker to the real estate industry.

Six ways to make sure you buy the right house

A year ago I wrote the most common mistake home buyers make is buying with their heart instead of their head — usually because they panic while involved in a stressful negotiation for which they are unprepared.

The result is that buyers pay more than they should, or are disappointed later when they find defects in the home or discover the neighbourhood isn’t quite what they thought.

So, here’s an updated list of six ways to prepare yourself:

1. Sell or buy first?

We are still in a seller’s market in the GTA, with the number of buyers exceeding the number of available homes. In this type of market, you should buy your new home first and then sell your existing home. If you sell first, you may find yourself running out of time, with no home to move into, as the closing date nears. This leads to panic buying.

In a buyer’s market, sell your home first as you won’t have as much trouble finding a new one.

2. Research, research, research

Check police websites for neighbourhood crime statistics. Ask at City Hall if new developments are planned or whether a new large employer is relocating to the area. Jobs mean demand.

Walk any neighbourhood you are interested in and talk to people. You will learn the demographics of the area and its facilities. What schools are in the area and is there a waiting list to get in? Are there activities nearby for children, including parks, libraries and community centres? You also get a sense of the friendliness of the community and whether there are surprises that no one is going to advertise — vandalism, former grow houses, or the neighbour from hell.

3. Find the right agent

Do not go into an open house alone, thinking you can save commission. The agent is working for the seller and their job is to get the seller the most money possible. While focusing on saving a few dollars negotiating commission, you will invariably give away important information about yourself, which will hurt you later.

Start by asking family and friends for a buyer agent referral. Then study the agent’s own website. Do they offer information that will assist you with your search? Do they have a team of professionals they can share with you? When you interview them, ask them about their knowledge of the area; in particular, is it known for sewage backups, termites, flooding or mould. Ask for their own success rate when working with buyers, especially in bidding wars, and then call those buyers yourself.

4. How much can you afford?

You should never live just to pay your mortgage, or else the rest of your life will suffer. Meet with a mortgage broker in advance to determine how much you can safely borrow, based on your income and family needs. Buyers should also realize the lender will do an appraisal and if the lender believes you paid more than the house is worth, they will not give you the full amount of the loan you expect. So, be very careful about stretching yourself to the limit when you make an offer.

5. Choose a home inspector carefully

The home inspection is becoming even more important, as it is one of the only ways for a buyer to check against unwanted surprises after closing.

Ask for references and call these references yourself, especially the ones who bought older homes, where problems are more likely to occur later. There are now additional inspections that test specifically for mould or termites. There are video cameras that can tell you the condition of your sewage system and scanners that can look behind walls. If it is an older home, it is worth this extra investment.

Remember, most inspection firms have a limitation of liability clause, which states that if they miss something that costs you money, they are not responsible. Ask the company if they have ever been sued by a buyer.

6. Title insurance is a mustTitle insurance can be arranged through your lawyer. You will be protected against unpaid taxes or water bills by the seller, as well as problems that are not known at closing. This includes problems where part of the home or swimming pool is in fact on your neighbour’s property.

However, it is a mistake to believe title insurance will protect you against everything. For example, it won’t compensate you if you thought your lot was 50 feet and a later survey showed it was only 48 feet. That is why you should always ask for an up-to-date survey on the property.

Mark Weisleder is a lawyer, author and speaker to the real estate industry. Contact Mark at mark@markweisleder.com

 

Where do YOU Want to Live? Choice Not Always Clear Cut

You want a home near elementary schools, because you have children ranging in age from 9-12. You want to be near a thoroughfare, because you want the fastest route to and from work. A community club or recreation centre is important, with all of your kids in sports. Shopping centres nearby means walking distance to get a few bags of groceries. And, of course, good medical facilities – even a hospital – in striking distance, is vital. Sounds like a utopian community, doesn’t it?

But there is also a downside to each of the amenities and advantages that you have listed as priorities, even if such a community was readily accessible. It is the negatives that we often fail to contemplate when purchasing a home.

This is particularly true for first-time buyers.

Yes, the elementary school is important. But, with the children reaching the point where they will move on to middle, and then high school, looking a few years into the future becomes of greater concern, as the kids are unlikely to want to give up established friendships quickly. So, a balance of advanced schooling and elementary facilities is the key.

A thoroughfare offers obvious disadvantages, with vehicle noise, exhaust fumes and more frequent construction headaches. Consider, as well, that one of the partners in the household is likely to change jobs in the next eight years, and that thoroughfare is less significant. To be sure it is an important factor, think about driving the route during peak hours, before buying. Or check on construction history and the city’s five-year capital project plans for the area.
Community clubs and recreation complexes offer few downsides, except for the increased traffic and parking issues, as well as a general increase in graffiti near many public venues, according to the Center for Problem-Oriented Policing.

Similarly, shopping centres provide the same downsides.

The hospital – a vital consideration – is more likely to be an annoyance than a benefit, with sirens and parking as issues. Most of us are aware, as well, that all but the most urgent health issues require a much longer wait than a clinic or doctor’s office, so, instead, seek out a mall with a physician or clinic in it.
While many realtors and home vendors promote their listings using these most popular demand items, resist the urge to “follow the herd.” Instead, assess what is important to you, in the short, near and long term. Resist the popular trends and “hot” communities as the utopian area or market. “Popular” and “hot” often equal “pricey.”
Look to patterns, dynamics and directions of a community, rather than what that community now may be. Some of the best deals may be available in emerging or revitalizing communities, rather than in “in” markets. Those emerging centres may also offer the greatest potential for property appreciation.

The cautions listed should not be interpreted to mean, however, that you should shy away from a property because it has all the amenities listed, or because it is in an established, vibrant and “hot” community. Rather, your focus should be on identifying items important to you, today. If it is your intention to remain in this new home for a longer period, consider future needs. However, if the house is a short-term stopover of a few years or less, consider its marketability at the end of that period.

In short, you are investing in your life, not an inanimate, impersonal building. Your home, like the turtle’s shell, is uniquely yours, and should reflect the wants and desires you harbour as much as your needs and priorities. Utopia, indeed, is personal!

Home In Converted Church Is Blessed With Five Levels

Home In Converted Church Is Blessed With Five Levels.