TrueCondos.com – The Best Source for Toronto Condos

Zoocasa Launches Zoopraisals: The End of Realtors is Nigh?

Rogers-owned real estate  portal Zoocasa launched a new service this week called “Zoopraisals“. CTV News quoted me in a story they posted on their website which you can read here if you like. They offer anyone a free home appraisal instantly over the internet without any strings attached. This brings Zoocasa one step closer to becoming Canada’s version of Zillow.com which is an extremely powerful real estate search engine in the U.S. and they have been providing property owners “Zestimates” for several years now.

The big question always is, do services and innovations like this mean the end of Realtors as we know it? Will technology and the internet ultimately replace the traditional real estate agent model of buying and selling real estate? Will commissions soon be a thing of the past?

My answer to all these questions is obviously ‘no’. While I give kudos to Zoocasa for creating great tools for the consumer, these tools only serve to highlight the fact that any service professional who can’t prove themselves more useful than a computer model or add any more value to a transaction than an online classified ad will soon be out of business. However, those professionals who are experts in their market niches and understand the many complex variables to go into every single real estate transaction will continue to thrive for many many years. I think you know which group I plan on being a part of!

This is also a great time to plug my own condo evaluation service, which like Zoocasa’s is also free, however unlike Zoocasa it actually contains more than just a single number on a screen as it takes into account my extensive knowledge and experience working in the downtown condo market! If you’d like to know what your condo is worth, please contact me.

Continue reading...

CBC Radio “World at 6″ Interview

Yesterday I was featured on a CBC national radio program, “The World at 6″, talking once again about the small condo phenomenon in Toronto. Have a listen! Questions or comments? Contact me.

CBC Radio Interview from Andrew la Fleur on Vimeo.

Continue reading...

Charles Adler Interview About The Smallest Condo in Toronto

OK. This will be the last post on this subject-I hope! I just had to share an interview I did yesterday with Charles Adler on his nationally syndicated radio program (AM640 in Toronto) about “The Smallest Condo in Toronto”.

Charles and I talked for about 6 minutes about the “micro-condo” phenomenon in Toronto. I had a lot of fun doing it and I hope you enjoy the listen! Questions or comments? Please contact me.

CLICK TO LISTEN ->Charles Adler – Sep 29th 2011 – Interview

To download the podcast in iTunes, go here.

Continue reading...

Sympatico.ca Picks up the Smallest Condo in Toronto Story

Just 24 hours after TheStar.com wrote their article, Sympatico.ca and Yourmoney.ca picked up the story too. You can read it here.

While the articles were a fun read, what I found most interesting were the comments section of each article.

The article on TheStar.com framed me as a landlord and Realtor. The comments were mostly personal attacks on me, essentially calling me an evil, greedy slumlord and that I should be locked up for even thinking about renting out such a horrible, God-forsaken shoeb0x of a condo at such an exorbitant and oppressive monthly rate. “How dare you!”

The article on Sympatico.ca framed it as my own apartment that I would be living in (even though the author knew that it is an investment unit). The comments section on this article are full of praise for me as a smart and even ecologically sound home owner who is living within my means and not being wasteful. “Good for you for making it work!”

This contrast between the two comments’ sections provides a fascinating glimpse into the human physche, but the point I want to make is that it really underscores my belief that investing in real estate is not for everyone. Many people do not and will never understand real estate, and specifically how it can be a vehicle for wealth creation. Some of us ‘get it’. Some of us don’t. I wrote a couple blog posts last year about the difference between those who get it and those who don’t.

Questions or comments? Please contact me.

Continue reading...

What Does The Smallest Condo In Toronto Look Like?

I never envisioned my face would be plastered on the front page of TheStar.com right next to a picture of Rob Ford laughing diabolically, but here we are. Check out this cute little article-with video- that Susan Pigg (The Star’s new real estate reporter) wrote about my investment unit at One Park West. What is interesting or ‘newsworthy’ of this condo is that it is possibly the smallest condo in the entire city at 301 square feet.

I guess you could say I put my money where my mouth is when it comes to the Regent Park revitalization project. I first started blogging several years ago about One Cole, then last year it was One Park West, now this week it’s Paintbox. It’s no secret I am a believer in the redevelopment that is happening in Regent Park, and I’m happy to say my own piece of the puzzle has turned out fantastic.

I know that many people within the real estate industry in Toronto are still highly skeptical that Regent Park will overcome it’s stigma and reputation as a ‘bad’ area, built progressively over the last 50+ years, but I’m not one of them. I believe when the redevelopment is complete in around 5-7 years this area will be a great middle-class, family-type neighbourhood in the heart of downtown. Something unique and an affordable area that people will not only want to live in, but also spend their free time in.

Questions or comments? Please contact me.

Continue reading...

Wall Street Journal Chimes in on the Toronto Condo Market

I guess this makes it official: everyone is talking about the Toronto condo market. I was interviewed a couple weeks ago for an article on our condo market by a writer for the Wall Street Journal, and today that article hit wsj.com. Read the entire article here. See what people on Twitter are saying about the article here.

The article certainly has a bearish slant to it, with the basic thesis being: the market has been booming for so long it therefore must crash. Certainly not something we haven’t heard before many times over the last decade, but should this article give individual investors pause as to whether or not they should be buying a condo in Toronto right now?

I was asked my opinion on the market and the prospects for a ‘correction’. What I told the writer was the same thing I’ve been saying on this blog for a while now: the likelihood for a correction in the short term is very low, the fundamentals right now are strong. However, even the most bullish investor must admit that a key driver to this market has been the lower-than-low interest rates we have had over the last few years. If rates continue to stay low, demand will continue to be strong, prices will continue to rise, and thus, the potential for a correction will grow. In other words, no market can rise at 6-8% per year ad infinitum, but as long as money is cheap, the market will likely keep its momentum.

I would love to hear your comments. Leave one below or email me.

Graphic above taken from the wsj.com article.

Continue reading...

X2 Condos and River City Live Blog

Today is a rather exciting day in the life of the Toronto Condo market, so why not live blog it (watch for updates here all day and night)?

5:00am – Waking up at 5am. Ouch, that hurts. City is silent except for a couple hundred Realtors…

5:30am – I’m at the X2 Condo broker’s sales event lineup outside the Intercontinental Hotel on Bloor Street. I quickly discover 2 lines are formed – one on the south side of Bloor, one on the north

5:35am – After first thinking of joining the south side line, I decide to join the north side as word on the street was that was the line that Baker Real Estate had said was the true line. I feel bad for the people who apparently had been waiting as long as 10 days outside, but the police did not want people crossing the street during rush hour traffic so a line formed on the north side where the hotel is located.

6:30am – Media frenzy in full effect as CP24, CTV NEWS and 680 News all are filming and interview people on the scene. The Twitterverse is starting to buzz with reports of 2 or possibly 3 separate lines that have formed.

8:30am – after 3 hours of waiting I get my official number from Baker Real Estate. #45. Another 50 people across the street are now chanting slogans and shouting across Bloor street, holding up signs that read “UNFAIR”. Originally, numbers were to be given out at 12 noon, but they did it earlier due to the crowds and traffic chaos that would be caused on Bloor street from the crowds gathered.

9:30am – CTV news just called me to interview me about the event. See the article online here.

10:30am – off to River City sales centrer on Eastern Ave for the broker’s information session. Another line up to get in.

11:00am – doors open and about 200 agents are here. All the usual players from the downtown scene, and also plenty of ’905′ agents. Say hi and catch up with a few people. Biggest news: It’s going to be a LOTTERY BUYING SYSTEM.

12:30pm – Just got back to the office and am preparing an email for my clients with all the details about River City.

2:30pm – answering client inquiries about River City and getting prepped for X2 sales event tonight.

3:00pm – Old colleague just called and asked if I want to share my spot in line for X2 event tonight…

4:00pm – Media lining up their cameras for the sales event at X2. Obviously hoping for a fracas to break out tonight. If you are driving I recommend avoiding Bloor anywhere near avenue road!
http://pic.gd/70b3a0.

7:45pm – so cold… Fingers Falling off after 3 hours waiting to get inside the hotel. No protests or drama at sales event so far

8:40pm – still outside. Word from inside is only 2 beds still available.

10:44 – managed to get a 2 bedroom unit…I think. I’m outta here. Got to get some sleep and warm up

Continue reading...

Interview with CTV.ca

Check out my latest media interview, this time with CTV.ca talking about the slowdown in the US economy and whether or not the real estate market in Toronto will be affected.

Related Posts:

Interview with Eye Weekly

Interview with 680 News

Continue reading...

Interview in EYE WEEKLY

Check out this week’s edition of EYE WEEKLY for an article about the First Time Home Buying experience in Toronto. I was interviewed for the piece.

EYE WEEKLY is a free news magazine that is available just about everywhere in Toronto, or if you like, you can read the article here.

Continue reading...

My Interview with 680 News on Bidding Wars

Canada’s number one radio station, 680 News, recently interviewed me on my thoughts on how to survive bidding wars in this incredibly hot Real Estate Market we are currently experiencing in Toronto. To listen to the interview, click here.

Continue reading...