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2900 Yonge Street, Suite no. 202, is an exceptionally well designed apartment in "The Muir Park". It combines condominium living with the feel of a perfect bungalow. At 2,667 square feet, as per floor plan, there is ample room for entertaining. There are 2 bedrooms and a library. The split bedroom plan ensures privacy for you and your guests. A sunroom captures the north west light.
The Residences of Muir Park were completed in 1987. From the beginning, this condominium development has been a destination address for empty nesters in Lawrence Park and Lytton Park. The building's location, design excellence and proximity to public transit and shopping of all kinds will ensure it remains top of mind for neighbourhood homeowners ready to embrace the convenience of condominium apartment living.
• 2 bedroom (split plan), library and sunroom
• 2,667 square feet as per Accuplan Inc. floor plan
• 2 parking spots and a locker on the same level as the apartment
• Close to Lawrence subway station and Yonge Street shopping
• Across the street from Alexander Muir Gardens and George Locke library
3rd quarter 2014 sales in North Toronto continued to be strong, as compared to the same quarter in 2013. The number of new houses for sale decreased, as did the number of homes that were active in the market place. The scarcity of inventory was reflected in the average sale price, which went up by 6% to $1.2 million. Buyer eagerness was also seen in the number of days on market, which went down from 26 to 23. It should be noted that the $1 million milestone, formerly a hallmark of luxury real estate, is now emerging as the "price of admission" for a home in North Toronto.
If you already own a condominium property in Toronto, think back to when you bought it. Chances are your Agent drafted an Offer that contained a condition on your being satisfied with the Status Package and related documents. Typically this clause gave you and your advisors 10 business days to requisition this paperwork from the Condominium Corporation. You and your advisors then had 48 hours from receipt of same to be satisfied with the contents. If you were happy, you signed a Waiver document and the deal became firm and binding. If for any reason you were not satisfied, you would not have executed a Waiver document, walked away from the deal and the Seller would have had to re-market his property. This process worked well for you as a Buyer and not so well for the Seller.
Now that you are a Seller, let us consider how to modify the traditional selling protocol to benefit you:
1) Have the Status Package in hand before the first prospect sees your property.
2) Set a date and time for review of offers (4 or 5 business days from the start of showings).
3) Instruct prospects to submit unconditional offers only.
4) Insist that the deposit in the Offer be a bank draft for 10% of the purchase price.
The impact for you the Seller of the above modifications to traditional process are:
1) Anyone planning on making an Offer can be given the Status Package ahead of your offer date, thereby enabling them to be satisfied with same, making their Offer unconditional.
2) In addition to facilitating the creation of unconditional offers, a tender date gives Buyers the luxury of time to consider and plan other aspects of their potential purchase.
3) If you have more than one Offer to consider, you will be able to accept the best one without worrying it may fall apart later if your Buyer does not waive his condition.
4) 10% of purchase price bank draft deposits are excellent insurance that the Agreement will close as scheduled.
These simple changes to the selling process will give you as a Seller more comfort and security. Ask your Agent how best to incorporate them into a marketing plan.
Best Wishes for Success,
University-South Annex Real Estate, Toronto
Unique University-South Annex
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In 1827, the newly formed council of King’s College University bought 150 acres of undeveloped forest land south of Bloor Street and west of Avenue Road. The purchase price was 3,750 pounds. What would eventually become the University of Toronto Campus was originally acquired for 25 pounds per acre!
Today, the University-South Annex area is a mix of single family homes, student housing, condominiums and retail development. Next to the University of Toronto’s St. George Campus, the neighbourhood has everything from museums to live music venues to a movie theatre. This eclectic blend is what makes the area unique.
The University neighbourhood is also referred to as the South Annex by its residents and merchants. Those working and living east of Grace Street and north of College think of themselves as part of the South Annex. The area is served by the Spadina and Bathurst subway stations. Drivers will find Harbord Street an easier route than Bloor Street West when traveling east and west.
A typical University-South Annex house is a 2-storey semi-detached on a 20’ wide lot. In 2014, detached house prices averaged at just above $1.2 million rising to a high of nearly $1.9 million. Semi-detached homes sold for an average of $1.1 million. Some of the houses have undergone interior renovations and retain their original exteriors. Others have modified exteriors that express the tastes and traditions of their current owners. There are a few high rise condominium projects, most of which are located along Spadina Avenue. 2014 condominium sales ranged from $300,000 to over $1 million, with an average price of $500,000.
The neighbourhood’s main shopping areas are located along Bloor Street West and along Harbord Street. Harbord Street between Spadina Avenue and Bathurst Street has specialty bookstores, restaurants and a ceramics studio. Mirvish Village offers stores specializing in the arts - or just with an artistic attitude. Bloor Street between Avenue Road and Bathurst Street features food shops, yoga studios and restaurants offering a wide variety of national cuisines. There are plenty of sidewalk cafes which make strolling Bloor Street in clement weather a delight.
University-South Annex caters to students, families, theatergoers, music lovers and foodies. Its residents can walk to museums, restaurants and yoga classes. Fine housing stock and an excellent location make the neighbourhood a value proposition for Buyers. Its cultural scene and services make it highly desirable.
The Toronto neighbourhood map displayed on this website was published in “Your Guide to Toronto Neighbourhoods”, is copyright Maple Tree Publishing and has been reproduced by the Toronto Real Estate Board under license.
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