How Toronto home prices have escalated over the past 50 years

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Published on: November 17, 2016

Today’s million-dollar properties once housed Toronto’s working class. It’s almost impossible to overstate the enormity of the shift. Over the past 50 years, homes in some parts of the city have shot up in value by almost 6,000 per cent. How did we get here? Let’s review.

Nathalie Foy and Ted Betts bought their house in 2008 for $1.25 million. Similar homes now sell for $1.8 to $2 million. Nathalie Foy and Ted Betts bought their house in 2008 for $1.25 million
 

135 Walmer Road

Imre Gero, Hospital Worker
Purchase price: $31,000 in February 1966

Gero was an employee at the now-defunct Workmen’s Compensation Hospital in North York. He bought 135 Walmer with his wife, Ilona, and—like so many Annex homeowners of the time—operated the property as a rooming house.

Therafields, Therapeutic Commune
Purchase price: $76,000 in June 1974

Therafields was an experimental psychotherapeutic commune founded by Lea Hindley-Smith, a woman with no therapeutic training, whose philosophy attracted poets, professors, students and other seekers. The organization owned approximately 20 homes in the Annex, including 135 Walmer, which it used as a shared residence for therapy groups. At one point, there were roughly 900 members, some of whom paid rent to live in Therafields-owned homes and share meals with other members.

Donald Evans, Professor, and Frances smith, teacher
Purchase price: $135,000 in December 1980

By the early 1980s, depressed home prices had reduced the value of Therafields’ real estate portfolio, exacerbating the organization’s financial problems and forcing it to sell off its holdings, including 135 Walmer. Evans and Smith weren’t a married couple, and they didn’t live in the house. It’s likely that they bought the property as an investment. In January 1982, they listed it for $219,000, but they dropped their asking price to $165,000.

Issie Lyon, policy analyst, and Carole Yellin, school psychologist
Purchase price: $160,000 in January 1983

The Lyons bought the house just before the murder of nine-year-old Sharin’ Morningstar Keenan shocked the neighbourhood. Their friends thought the area was dangerous, but the Lyons were smitten. They loved the tight-knit community and the annual Walmer Road block parties. “People became friends who are still friends today,” Issie recalls. “There were a lot of young couples with kids who scraped together enough money to get onto the street. We moved in right before prices got crazy.” Once their sons, Joshua and Matthew, grew up, the couple decided to downsize. In 2006, Issie gave the house to the boys, who sold it two years later.

Ted Betts, Lawyer, and Nathalie Foy, writer
Purchase price: $1.25 million in January 2008

Betts and Foy were living in Cabbagetown, but they wanted a change for their children, Griffin, Rowan and Gavin—all of whom were under seven at the time. By 2008, the Annex was a popular choice for upper-middle-class families. “We thought the neighbourhood would be safer for our kids to wander around as they got older,” Betts says now. As soon as the couple saw 135 Walmer, they had to have it. It was listed at $990,000, and they beat eight other bids with an offer of $1.25 million. This year, Foy helped organize the 30th anniversary edition of the annual street party that the Lyon family always attended. Approximate present-day price: $1.8 to $2 million

Houses like Matt Faulknor and Kristen Blackwell's now sell for $800,000 Matt Faulknor and Kristen Blackwell, at 46 Rhyl
 
46 Rhyl Avenue

James Smith, warehouse worker
Purchase price: $11,800 in May 1956

Smith bought this two-storey, three-bedroom semi with his wife, Rita. They owned the house for the next 42 years.

Alan Redburn and Dale Forbes, real estate investors
Purchase price: $180,000 in August 1998

After James died in 1992, Rita stayed on for six more years. She sold the house to Redburn and Forbes, who renovated it for resale.

Darrell Cook, business executive
Purchase price: $242,000 in April 1999

Cook was renting another house in the area from Redburn when he opted to buy 46 Rhyl from him. “It was very quaint,” Cook says now, “and there were only four or five restaurants in the neighbourhood. It’s a lot busier now.” When he got married, he and his wife sold the place and left Toronto for Brooklin, Ontario.

Hollie shaw, journalist, and Matthew Syberg-Olsen, advertising executive
Purchase price: $331,000 in April 2003

Shaw and Syberg-Olsen bought the house, but they lived there for less than two years.

David Paton and Sherry Smeaton
Purchase price: $358,000 in December 2004

Eighteen months after the previous sale, when 46 Rhyl sold to Paton and Smeaton, the house had appreciated in value by $27,000.

Matt Faulknor, television producer, and Kristen Blackwell, artist
Purchase price: $385,000 in August 2006

Faulknor and Blackwell were outbid on several other properties before they found 46 Rhyl. The house is quite small, but they think living in a safe area where neighbours are friendly makes up for it. They have seen the once-secluded pocket become more lively in recent years as houses are sold and renovated into apartments. Approximate present-day price: $800,000

Homes like Claudia Molina's now sell for $900,000 Claudia Molina and her daughter, Melina, outside 33 Second Street
 
33 Second Street

Michael Gildea, streetcar driver, and Anne Gildea, phone operator
Purchase price: $26,500 in December 1968

The Gildeas were Irish immigrants. Their son, Kevin, remembers that the neighbourhood had a rough reputation when they lived there. What is now the Humber College Lakeshore campus was a psychiatric hospital, and most of the area’s residents were working-class immigrants. It was a big deal when a McDonald’s opened in the area. “We didn’t go for fast food before then,” Kevin says. “It was like we’d joined the 20th century.” When Kevin finished high school, he moved to Ottawa. In 1983, his parents sold the house and downsized to an apartment.

Manuel and Toni-Lynn De Medeiros
Purchase price: $92,800 in March 1983

The De Medeiroses owned the home for 13 years.

Daniel Piitz, printing company owner
Purchase price: $194,000 in March 1996

Piitz lived in the house for less than two years before moving into a condo closer to downtown. The neighbourhood was in a transitional phase. “There were nice places to walk the dog, but the area was a little rundown, and there were a lot of dollar stores. It was no Queen West,” he says.

Claudia Molina, Events manager
Purchase price: $220,000 in January 1998

Molina shares the home with her daughter, Melina, who is 15, and their two dogs, Buddy and Mia. She rents out the basement for $950 a month to help with her mortgage payments. “When I first moved here, my daughter was one of the only kids in the neighbourhood,” she says. “Now there are a lot more families, and there are always people using the park.” With Humber College nearby, Lake Shore Boulevard has gained foot traffic and restaurants, and home prices have risen—but not as dramatically as in some other parts of the city. Second Street’s newest buyers are among the few in Toronto who are still paying six figures for a detached house. “I’m here at least until my daughter finishes college,” Molina says. Approximate present-day price: $900,000

Article source: http://torontolife.com/real-estate/toronto-50-years-real-estate/

Saskatoon’s CENTURY 21 Fusion wins 2016 Franchisee of the Year

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Published on: November 17, 2016

CENTURY 21 Canada announces their 2016 Franchisee of the Year.

CENTURY 21 Canada is proud to announce the recipient of this year’s Franchisee of the Year Award: CENTURY 21 Fusion, from Saskatoon, Saskatchewan! The prestigious award was presented to owners Gary and Sharon Busch during the organization’s special 40th anniversary Canada Conference in Vancouver on October 28, 2016.

Candidates for Franchisee of the Year are selected by peer nomination and evaluated based on a variety of factors that include sales, growth, and their overall contribution to the System and local community.

This year’s winner, Gary Busch, started his career in real estate as a REALTOR® with CENTURY 21 in 1992 and hasn’t looked back since.

“After more than twenty-four years, I can honestly say that I have never even considered leaving the brand,” said Busch. “To this day, I still remember what a competitor said after failing to recruit me, despite a relentless pursuit: ‘You’re a tough one to crack, Gary; your blood runs gold,’ and that still rings true. I’m incredibly proud to be a part of the CENTURY 21 organization, and the business it has helped me build.”

Today, his thriving company supports the success of more than 90 sales representatives in the Saskatoon area.

“As a franchisee from a relatively small city, I’m humbled and honoured to receive this national recognition,” said Busch, owner, CENTURY 21 Fusion. “The Franchisee of the Year Award is extremely coveted and validates all of the initiatives and effort we have put into building a successful business. I’m grateful for the systems, mentors, and committed agents who have worked hard to make this happen for us.”

Continual coaching and onboarding programs like Passport for Success have helped more than seventy percent of their new agents last beyond the three-year mark; an impressive statistic in an industry where many sales representatives fail within that same timeframe.

“Whether it’s day one of an agent’s career or a seasoned veteran looking to take their business to the next level, Gary and his management team have always maintained a laser-like focus on growth and professional development,” said Brian Rushton, executive vice president, CENTURY 21 Canada. “We’re incredibly proud of what they have contributed to our organization, as well as the real estate industry in Saskatoon, and they couldn’t be more deserving of this significant award.”   

Drop by the CENTURY 21 Fusion office in Saskatoon at 210-310 Wellman Lane, or visit their website to discover the CENTURY 21 difference.

 

#  #  #

 

Media contact

Sandra Quek
Marketing Specialist
CENTURY 21 Canada™
sandra.quek@century21.ca 
604.606.2106

 

About CENTURY 21 Canada™

Century 21 Canada Limited Partnership (century21.ca) is a real estate master franchisor with complete rights to the CENTURY 21® brand in Canada.

The CENTURY 21 System is the world’s largest and most recognized residential real estate franchise sales organization with approximately 6,900 independently owned and operated franchised broker offices worldwide and over 101,000 sales professionals. CENTURY 21 provides comprehensive technology, marketing, training, management, and administrative support for its members in 78 countries and territories worldwide.

®/™ trademarks owned by Century 21 Real Estate LLC used under license or authorized sub-license. ©2016 Century 21 Canada Limited Partnership.

The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.

Article source: http://feedproxy.google.com/~r/Century21ca/~3/aG89UZlc00Y/Saskatoon_s_CENTURY_21_Fusion_wins_2016_Franchisee_of_the_Year

Kelowna’s Amanda Westrheim wins 2016 Sales Associate of the Year

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Published on: November 17, 2016

CENTURY 21 Canada announces their 2016 Sales Associate of the Year.

CENTURY 21 Canada is proud to announce the recipient of this year’s Sales Associate of the Year: Amanda Westrheim, from CENTURY 21 Assurance in Kelowna, British Columbia! The prestigious award was presented during the organization’s special 40th anniversary Canada Conference in Vancouver on October 28, 2016.

Candidates for Sales Associate of the Year are selected by peer nomination and evaluated based on a variety of factors that include sales, growth, and their overall contribution to the System and local community.

This year’s winner, Westrheim, jumpstarted her career in real estate as soon as she graduated high school, taking on administrative roles for CENTURY 21 Assurance until she was licensed in 2011. In her very first year as a REALTOR, she became the top producing agent in her office, and received the brand’s most iconic award for sales excellence, the CENTURION.

“I have always known that I wanted to be a REALTOR, so to receive this type of acknowledgement, so early on in my career, is surreal and beyond encouraging,” said Westrheim. “I truly believe that my discipline and background in the industry, prior to even being licensed, gave me an incredible head start as a REALTOR, and I want to thank everyone who has supported me from day one.”   

Last year alone, Westrheim became a DOUBLE CENTURION producer; an impressive achievement that requires a gross closed commission of at least $484,000 or 134 units!

“To be named Sales Associate of the Year is an incredible honour at any stage in a REALTOR’S career, but to receive this recognition just five years in is quite exceptional, and something that Amanda should be very proud of,” said Brian Rushton, executive vice president, CENTURY 21 Canada. “Her passion for real estate and obvious commitment to her clients and the CENTURY 21 brand is inspiring and I look forward to watching her continued success.”

Drop by the CENTURY 21 Assurance office at 251 Harvey Avenue in Kelowna, BC to meet Amanda, or visit her website to discover the CENTURY 21 difference.

 

#  #  #

 

Media contact

Sandra Quek
Marketing Specialist
CENTURY 21 Canada™
sandra.quek@century21.ca 
604.606.2106

 

About CENTURY 21 Canada™

Century 21 Canada Limited Partnership (century21.ca) is a real estate master franchisor with complete rights to the CENTURY 21® brand in Canada.

The CENTURY 21 System is the world’s largest and most recognized residential real estate franchise sales organization with approximately 6,900 independently owned and operated franchised broker offices worldwide and over 101,000 sales professionals. CENTURY 21 provides comprehensive technology, marketing, training, management, and administrative support for its members in 78 countries and territories worldwide.

®/™ trademarks owned by Century 21 Real Estate LLC used under license or authorized sub-license. ©2016 Century 21 Canada Limited Partnership.

The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.

Article source: http://feedproxy.google.com/~r/Century21ca/~3/nzJms8Y5R8A/Kelowna_s_Amanda_Westrheim_wins_2016_Sales_Associate_of_the_Year

Regina’s Carla Browne wins 2016 Brand Leadership Award

Categories: Real Estate News
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Published on: November 17, 2016

CENTURY 21 Canada announces their 2016 Brand Leadership Award winner

CENTURY 21 Canada is proud to announce the inaugural recipient of its Brand Leadership Award: Carla Browne, owner of CENTURY 21 Dome Realty Ltd., in Regina, Saskatchewan! The prestigious award was presented during the special 40th anniversary Canada Conference in Vancouver on October 28, 2016, in recognition of outstanding leadership and brand loyalty.

Browne started her career in real estate with CENTURY 21 in 1993, and having done every job in the office since then, knows the industry and brand inside out. It was in 2011, after successfully managing four offices as a provincial broker, that she took ownership of CENTURY 21 Dome along with her partners.

“Despite being licensed, my mission has never been to sell real estate myself. I love the operations side of the business and am dedicated to growing our office by supporting our sales representatives,” said Browne, owner, CENTURY 21 Dome Realty Ltd. “I know that supported agents are profitable, successful agents, and for me, that has always started with the brand and the people behind it. Between the incredible franchisees who have mentored me, our agents and staff who work hard every day, along with the C21 Leadership Team that is always willing to listen and eager for feedback, I couldn’t do what I do alone.” 

Her consistent leadership and commitment to her agents’ success has allowed CENTURY 21 Dome Realty Ltd. to capture the TOP market share in Regina.

“Carla’s contributions to her community, the CENTURY 21 brand in Canada, and the real estate industry in general, extend well beyond her beloved province of Saskatchewan,” said Martin Charlwood, CEO and vice chairman, CENTURY 21 Canada. “Her thoughtful and fearless leadership all but guarantees a strong and successful future for CENTURY 21 in the Prairies and across Canada.”

Drop by the CENTURY 21 Dome Realty Ltd. office in Regina at 4420 Albert Street, or visit their website to discover the CENTURY 21 difference.

 

#  #  #

 

Media contact

Sandra Quek
Marketing Specialist
CENTURY 21 Canada™
sandra.quek@century21.ca 
604.606.2106

 

About CENTURY 21 Canada™

Century 21 Canada Limited Partnership (century21.ca) is a real estate master franchisor with complete rights to the CENTURY 21® brand in Canada.

The CENTURY 21 System is the world’s largest and most recognized residential real estate franchise sales organization with approximately 6,900 independently owned and operated franchised broker offices worldwide and over 101,000 sales professionals. CENTURY 21 provides comprehensive technology, marketing, training, management, and administrative support for its members in 78 countries and territories worldwide.

®/™ trademarks owned by Century 21 Real Estate LLC used under license or authorized sub-license. ©2016 Century 21 Canada Limited Partnership.

The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.

Article source: http://feedproxy.google.com/~r/Century21ca/~3/B06x0GRpTdM/Regina_s_Carla_Browne_wins_2016_Brand_Leadership_Award

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