Toronto Lofts: Comprehensive Information In Free 3D Digital Magazine

For many Torontonians, moving to an urban apartment is about tapping into the excitement and cultural opportunities of the big city and can also mean a shorter commute to work. But finding a place in the city can mean sacrificing the larger living spaces found in the suburbs. Increasingly, urban dwellers are finding that loft apartments offer the location and opportunities of city life with far more space than average condos or apartment homes.

What's the idea behind lofts, and why are they so popular? In The Online Guide To Toronto Lofts you will find comprehensive information about the history of lofts, types of lofts, living in a loft, decorating a loft and buying a loft, plus an overview of over 65 loft buildings in Toronto.

Lofts have a certain allure. With high ceilings, open floor plans, rough-hewn floors, and brick walls, they are a hip housing alternative for many urban professionals. Today's loft dwellers embrace new-age metropolitan living in all its glory. Those who buy these unique dwellings have shaken off long daily commutes, granting them more personal time, more cultural and entertainment possibilities and an active, city lifestyle. If you crave something eclectic, out of the ordinary and convenient to all the city has to offer, a loft may be for you! Select from newly constructed (soft) lofts, or restored historical building loft conversions (hard lofts).

There are many existing and up-and-coming loft projects in Toronto from which to choose. The best way to start searching for a loft is by completing the AvailAbility Form at this page. Based on your requirements we will do a search on the Toronto MLS System and send you an overview of all lofts currently listed for sale in Toronto that meet your main criteria. After the initial search you will receive an e-mail alert as soon as a new loft is listed for sale. This way you don't have to search the MLS yourself each day and, best of all, our daily prospect match is more up-to-date than the public MLS, giving you one, two or even three days advantage over other home buyers searching for lofts without this service and that is important in a competitive market. The AvailAbility Loft Search Program is FREE and without any obligation.

Are you interested in a new loft project or do you wish to see a particular loft listed for sale?
Call us now at 416-696-5100 for up-to-the-minute information on all properties currently on the market or for arranging a showing time at your convenience!

© 2006, Aad's WebServices
www.househuntingintoronto.com/lofts

February challenges record

The 3,301 resale home transactions through the first half of the month put February 2006 slightly ahead of record-setting first half of February 2002, when 3,286 transactions were recorded, Toronto Real Estate Board President John Meehan announced today. He also noted that the current month is up almost 13 per cent over last year’s mid-month figure of 2,924.
“The market is off to a solid start, though it’s obviously still very early in the season. The mild winter has likely contributed to higher activity, but nevertheless a strong performance like this is evidence of the overall health of the market,” Mr. Meehan said.

The average price of a home in mid-February was $348,804, up 12 per cent from the $311,065 recorded at the same point in January, and up four per cent over the $334,968 recorded a year ago.

According to Jason Mercer, Senior Market Analyst for the Canada Mortgage and Housing Corporation, strong results through the first half of the month reflect the strong fundamentals that continue to underlie the Toronto area housing market.
“While rising slightly over the past few months, mortgage rates have remained very low by historical standards. Low borrowing costs coupled with respectable job growth have kept home purchases near record levels,” Mr. Mercer said.

At mid-month, some of the most active areas compared to mid-February 2005 were found in the west end of the city of Toronto, outside the downtown core:
One large area east of the Humber river, stretching from High Park in the south up to Downsview, showed an average of 68 per cent more overall transactions compared to mid-February of last year. Detached homes are the most common housing type in this area.
In the east, the Guildwood / Scarborough Village area of Toronto saw 44 per cent more overall transactions than a year ago, led by sales of detached homes.

Outside Toronto, sales activity to mid-month in the town of Whitby was 43 per cent higher than during the same time frame a year ago.

Mr. Meehan added that a strong start to the year is good for consumer confidence.
“Consumers see the strong foundations that are in place and it reassures them that it is a good time to get into the market for the first time or make a lifestyle change by switching homes.”

CMHC to Insure 30 Year Mortgages on a Pilot Basis

Canada Mortgage and Housing Corporation (CMHC), working with FirstLine Mortgages, will be offering homeowner mortgage loans amortized up to 30 years as part of a pilot project to improve access to home ownership and choice for Canadians.

“The availability of extended amortization periods will improve access to home ownership for Canadians by lowering monthly principal and interest costs,” said Karen Kinsley, President of CMHC.

“It is part of our ongoing commitment to ensure that Canadians have access to quality, affordable homes. We are constantly working to extend home ownership eligibility to a larger number of Canadians.”

The four-month pilot, which begins March 3 and runs until the end of June 2006, will also be available through any other lenders who wish to participate in the pilot. CMHC will assess the pilot results and then determine whether this will be a permanent program.
Generally, 25 years has been the maximum amortization period permitted for CMHC-insured mortgages.

CMHC Mortgage Loan Insurance allows Canadians to purchase a home with as little as a five per cent down payment and benefit from interest rates that are comparable to someone buying with a 25% down payment. This allows them to purchase a home sooner and grow their equity faster.
Under the program, a premium surcharge of 0.25% will apply to homeowner mortgages with 30-year extended amortizations.

As well, extended amortization applications will be assessed on the same basis as applications with standard amortization periods and borrowers will have to meet the current eligibility requirements.

A borrower buying a $190,000 home with a 25-year amortization period and 5% interest rate would pay $1,100 monthly. By extending the amortization to 30 years, that same borrower would only have to pay approximately $1,010 monthly.

Prior to this pilot, extended amortization flexibility beyond 25 years was only available to homeowners under CMHC’s affordable housing partnerships and through its Energy Efficient Mortgages product.