Foster Leung Real Estate Broker
505 Highway 7 East, PH L6C Markham, ON, Canada

238 Bonis Ave #1221 Just list for $459,000 Luxurious Tridel "Legends At Tam O'shanter" One Bedroom + Den, Den Could Be Second Room. 9' Ceiling, Laminate Flr, Close To Transportations, All Amenities, School, Park, Golf Course. Pool, Sauna, Gym Room.

Dear Friend, Working throughout June, one could feel that the market was extremely active with multiple offers and activity at a high rate. But we were all quite surprised when the final numbers came in from the Toronto Real Estate Board showing that June’s sales (8,701) were only down 1.4% from June of 2020 (8,826). We knew that there has been a huge pent-up demand for homes and that demand exploded in June! I believe that that will continue in July and August. Prices were ...up 11.9 % on average over June 2019, with the year to date average price rising to $891,167, up 8.7% over 2019 year end average price $819,286. All segments of the market were very active with multi-million home dollar homes starting to move again with 365 homes selling over $2,000,000, including 323 detached homes as well as 16 condo apartments! The big news of the market is really twofold. One is that there is a small inventory of homes for sale (29% less than it was a year ago). The second factor is that interest rates have dropped to 2% for a five year term. This has brought new buyers into the market place because they can now qualify for mortgages and really brings down the cost of borrowing for those investing in rental properties. For example at 2% interest rate on a $700,000 mortgage represents $14,000 of Interest or roughly $1,166 per month. At 3% interest it represents $1,750 of Interest monthly, ($584 per month more). That really answers the question of, Should I wait for prices to come down before I buy?) The answer is you should buy before interest rates go up because that probably has a greater effect on your monthly payments then does price. Investors have realised that that $584 per month would go a long way to turning a break-even rental property to a profit-making rental property! If you have questions on the above, give me a call I'll be happy to help show you why the mortgage interest rate is just as important if not more important than price. While Covid cases are on the decline, let's not lower our guard! I am still selling homes in a secure and safe manner protecting myself and my customers. If you have any questions or have a friend who is thinking of buying or selling please remember me I'll be happy to be of service! Have a great July and stay safe! Your Friend in Real Estate.

Hopkins Cres $849,900 153 Hopkins Cres, Bradford Just listed for $849,900 Immaculate Detached Home With Open Concept Layout, 4 Bedrooms W/ 2 Ensuite Bedrooms, And Semi-Ensuite, Approx 2820Sf, 9' Ceiling On The Main Level, Hardwood Floor On The Main Level, Oak Staircase, Laminate Floor On 2nd Level, Lots Of Windows, Very Bright, 2nd Floor Laundry, Large Breakfast Area Overlooking Backyard, Custom Paint, Granite Countertop With Centre Island In Kit, No Sidewalk can park 4 cars.

50 Brian Harrison Way #2108 Asking for $ 429,900 One of a Kind unit, Luxury 1 Bedroom + Solarium by Monarch, Fully renovated, 4 months New: kitchen cabinet, Granite Countertop, Bathroom Vanity and Freshly painted. Steps to Scarb Town Centre, YMCA, LRT, TTC, Library and Civic Centre, mins to Hwy 401. Amenities: Indoor Pool, Sauna, Virtual Golf, Theatre, billiard room, Guest suites, Fitness...etc. 24hr concierge. Brand New SS Appliance.

29 Barrington Ave, Toronto - $749,900 3 Bedrooms Semi-Detached House Waiting For Your Magic Touch, Great Opportunity To Renovate Your Dream Home, Located Next To The Subway Station, New Laminate Floor On Ground Floor, New Roof, New Kit Cabinet, Upgrade Extra Thick Water Pipe From City To The Property, Detached Garage,