3 + 1 bedroom family home in John Ross Robertson School district. The open concept living and dining rooms lend themselves to entertaining. White kitchen has brand new stainless steel stove and dishwasher, walk-out to garden. The bright master bedroom features generous closet space. Front pad parking for 1 car included.
It's easy to find the Thornwood condominiums. The buildings are located on Scrivener Square, east of the old North Toronto Railway Station. Built in 1915, the station is recognizable by its 140' clock tower.
The Thornwood condominiums were designed by Young and Wright Architects and built in 2002 and 2003. Owners enjoy...
122 Church Street, Warkworth, is a beautifully proportioned house that has been thoughtfully restored by its current owners. Built in 1850, “Humphrey House” was given a thorough updating between 2008 and 2010. Among the improvements made were new wiring, drywall, plumbing, and 7 new bathrooms. The kitchen was treated to new cabinetry and 4 new stainless steel Energy Star appliances.
The house is situated on just under one acre of land and backs onto Warkworth’s Millennium Park. It has mixed use zoning, which presents Buyers with a range of opportunities: bed-and breakfast; gift-shop; tea room; spa; inn; gallery and restaurant. Perhaps the most compelling option is to enjoy it as is!
The property’s original features have been lovingly restored. The front and side porch doors are wood with “cranberry” glass inserts. The living room, dining room and den have ceiling medallions. The wood floors in the principal rooms and bedrooms have been refinished.
Warkworth, Ontario, is a ”Designated Arts Community” and home to a variety of studios, shops and restaurants. Local events include the Lilac Festival and the annual Perfect Pie Contest. There are three golf courses in the area.
122 Church Street, Warkworth, blends period grandeur with modern conveniences. Suitable as a family home or a thriving business, it represents a unique opportunity for the Buyer in search of country peace and village advantages.
To book an appointment to view 122 Church Street, click here.
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John T. Moore was a man with a vision. More than a land developer, he built not only a subdivision, but a railway line connecting it to the city. He spoke of a community "wheron taste and wealth may rear palatial mansions beautiful in their immediate surroundings, and commanding vistas over valley, hill and lake (that) will yield perpetual pleasure.” In 1889, Moore and a group of Toronto businessmen incorporated the Toronto Belt Land Corporation and the Toronto Belt Line Railway Company. They planned to develop and sell properties made accessible by the Belt Line Railway. Moore named the new subdivision after himself, and Moore Park was born.
In 1890, the bottom fell out of Toronto’s land boom. Both the Belt Land Corporation and the Railway Company declared bankruptcy. The new development was stalled for a decade, and would not be complete until the 1930s.
Today’s Moore Park is a community of two storey detached houses set on 25 to 50 foot wide lots. Tall trees and light auto traffic make for a peaceful atmosphere. Condominium development near Yonge and St. Clair and the rebuilding of some of the homes have not disturbed the neighbourhood’s “establishment” flavour. Recent house prices ranged from above $900,000 to over $3,500,000, with the majority of properties selling in the $2,000,000 range. Condo prices spread from over $300,000 to nearly $3,000,000, averaging at under $1,000,000.
Moore Park is bordered on three sides by green space; Mount Pleasant Cemetery to the north, Moore Park Ravine to the east and the Vale of Avoca Ravine to the west. The Canadian Pacific Railway tracks make up its southern border. St. Clair Avenue East takes local residents to Yonge Street and the St. Clair subway station. Mount Pleasant Road serves as a conduit to downtown.
The Belt Line Railway is now a nature trail encircling Moore Park and north Rosedale. It is popular with joggers, cyclists and families out for a stroll. Rosehill Reservoir Park features children’s playgrounds and a formal garden. The Badminton and Racquet Club, at 25 St. Clair Avenue West, is a private club offering racquet sports facilities. Moorevale Park, at 175 Moore Avenue, is the home of the Moore Park Tennis Club. Locals can catch up with community news at the Moore Park Resident’s Association website.
The area’s two shopping hubs are at Yonge and St Clair and Mount Pleasant Road between Davisville and Eglinton. The Yonge and St Clair Centre has a supermarket, a pharmacy and a gym. The shops of Mount Pleasant Village offer everything from home décor to yoga.
From a distant suburb accessible only by rail, Moore Park has become an established mid-town neighbourhood. Its convenient location, well-built homes and quiet charm ensure its continuing value.
Click here to search for detached houses in Moore Park.
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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Buying Toronto Real Estate - How Big a Deposit Cheque do I Write?
When buying Toronto real estate, Buyers typically make offers by signing an Agreement of Purchase and Sale. Most standard forms have a place for deposit details immediately below the lines dedicated to the Purchase Price. What percentage of the offering price should you give as a deposit for your dream house or condominium?
There are potentially as many perspectives on this question as there are real estate agents and Buyers. Customs vary widely. In many parts of Ontario, it is not uncommon to see deposits ranging in size between $1,000.00 and $5,000.00 regardless of the size of the purchase. I recently heard of a transaction in excess of $2,000,000.00 that was accompanied by a $5,000.00 deposit.
Toronto and Muskoka are the two markets in Ontario where deposits in the range of 5% to 10% of the offering price are the norm. My personal preference is for deposits at 10% of the offer price.
A Buyer may ask, “Why should I liquidate investments to come up with such a big deposit? Size doesn’t matter – I am still bound by an accepted Agreement. Besides, the Seller doesn’t get it – it goes into the Listing Broker’s Trust Account!”
Precisely. Let us now examine a possible impact of accepting an Agreement of Purchase and sale at $2,000,000.00 that came with a $5,000.00 deposit.
Early in June, Dr. John Doe offers to buy Jim Smith’s house for $2,000,000.00. He includes a deposit of $5,000.00 with his offer. Jim Smith accepts the offer with a closing date of October 30th. On September 5th, Dr. John Doe is offered a prestigious position in London, England at several times his current salary – housing included. He accepts the job offer immediately.
Dr. Doe now feels conflicted. He knows he is obligated to close his purchase with Jim Smith on October 30th. However, he will be in England at that time. How does he close and then go about re-selling a house he no longer wants when he won’t even be in the country? Maybe it would be better to just walk away from the problem. After all, his exposure is only $5,000.00. “Jim can re-sell the place no problem” he tells himself. “He might even get more money!”
Let us now look at this transaction with a $200,000.00 deposit:
Dr. Doe: “OMG. What am I going to do? I have to come up with $1,800,000.00 on October 30th to close a house I no longer want. They’ll never give me my $200,000.00 back.”
Whatever other thoughts run through Dr. Doe’s mind, it is highly likely that he will realize that his best option is to close the deal with Smith on October 30th and make arrangements to re-sell the house as soon as possible.
While large deposits are a harmless form of insurance for Sellers, they can also benefit the Buyer.
“The purpose of making an offer is to have it accepted.” With this time-honoured maxim in mind, imagine the impact of the following:
Jim Smith has been trying to sell his house for over 2 months. He has been asking $2,000,000.00 and has not received any offers. His listing agent has been advising him to lower the asking price to $1,895,000.00 for several weeks. He refuses saying “They can always make me an offer.”
Dr. Doe has been looking for the right place for 6 months. When he is taken through Jim’s house he knows immediately his search is over. He contains his excitement. Once outside, he asks his Agent “How long has it been on the market?”
After lengthy discussions with his Agent, he decides to make an offer at $1,750,000.00. He includes with his offer a bank draft payable to the Listing brokerage for $175,000.00.
Jim Smith is not happy with the Dr.’s offer and wants to reject it. However, he finds his eyes returning more than once to the bank draft on the table. “He’s obviously got the money but the price is ridiculous.”
After much thought he decides to sign Dr. Doe’s offer back at $1,875,000.00. 5 days later Doe and Smith strike a deal at $1,835,000.00.
What do you think the odds would be of this Agreement getting arrived at with a $5,000.00 deposit?
Best wishes for success,
If you have any questions or comments about this article, please contact me.
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