Room of the Week: What’s Not to Love?

A little background: I recently sold a big old great house to a young family and we spent a lot of time together making the deal happen. During our many meetings I couldn’t resist some design talk with the wife. She happened to be a very stylish gal with equally stylish visions of the entire house,  particularly the third floor.  It was the ideal ‘blank slate’ to which great things are about to happen, notably incorporating an ensuite bathroom in what is now just a small bedroom off the master. I have to admit I was envious of the potential of this place, so much room and so much fun to be had. 

Anyway — I sent the wife over several inspiration shots of great bathrooms, and came across this one. It’s not at all what she is thinking of doing, but it is something I want to do someday. I am a bath person, and the idea of reading in the tub in front of a fire on a cold wintry night, then hopping right into a warm bed — well, it’s about as luxe as it gets for me. -EN

Harvest Homecoming fun at the Whole Child School

Three of my four kids attend the new, alternative Whole Child School, so it was with great pleasure that Team DeClute helped sponsor the first ever Harvest Homecoming fall festival at the school.  Although these events are often fundraisers for schools in support of classroom supplies, field trips and other fun stuff, this one was mostly about getting the new community together for a good time.  The weather was great – perfectly cool and damp, like a fall day should be!  Parent volunteers ran the barbeques and sold the treats (Starbucks coffee and hot chocolate, plus loads of neat homemade treats donated by the community), so we all had plenty of ways in which to stuff ourselves!  Hay bales, pumpkins, a clown show and live music (fiddle and guitar) made for a really festive and fun atmosphere. 

As with all such events, the credit goes to the parent and staff organizers and their volunteer workers – and to all of the attendees, who validated that hard work by having so much fun.   We at Team DeClute were honoured to play our small part, and look forward to contributing to (and attending!) many more such events over the years! – SM

Our Reno: Progress Report

When I started this main floor addition, I knew that I wanted a very simple box shaped design. No irregular dips and dives, no nooks and crannies, just a staightforward box that would give us an additional 300 square feet of living space.

But I also knew that if I was going so simple, I needed a few WOW factors — enter my window and door. Their design is inspired by the infamous Frank Lloyd Wright Falling Water home in Pennsylvania, designed and built between 1934-1937 for the Kaufmann family, and a place I have plans to visit sometime soon with my friend GG. They are an example of the “organic architecture” that Lloyd Wright is known for, and they frame my little backyard green space perfectly. The doors are made of steel, and if I’ve heard it once, I’ve heard it a hundred times how G#$@#!mn heavy they are from my crew. Made by Bliss Nor Am here in Toronto, they are simply stunning. About 8 feet in height and width, they lend that architectural/industrial look that will offset all my traditional and vintage stuff that will soon be injected into the space. They will also go well with my concrete floor that’s to come in the following weeks.

The other WOW factor will be my powder room. But you’ll have to wait for that one just yet. -EN

How’s this for a “bounce”?

You might be surprised to hear this, but I have at times been accused of “wishful thinking” when it came to my predictions about the Toronto real estate market.  It should definitely not surprise you to hear that I am thoroughly enjoying the satisfaction that comes from being correct about said “wishful thinking”.  To wit, this week’s Market Watch from the Toronto Real Estate Board, in which it was reported that sales volume in September was up 28% year-over-year and the average price was up 10% year-over-year.  Yep, you read that right: ten percent. 

Last October I did a 2008-over-2007 sample analysis of several districts across Toronto.  I found that in most of those districts prices were either flat or up.  Prices were down in only a few.  Basically, by this time last year the market had started to slow, but we hadn’t yet hit the dip in prices that terrified so many people.  Based on that, and a local market that is powering ahead, expect to see bigger percentage gains in the next few months as we see real 2009/2010 gains over slight late-2008/early-2009 declines.  In short, I expect that the trend will appear even more exaggerated over the next few months.   Although it will be a bit of an illusion (things will probably normalize next year), it should be fun to watch!

Naturally, you want to know what this means for you.  If you own a home, it means that it is now officially ‘safe’ for you to put your house on the market.  It’s a seller’s market, period.  Honestly, the market needs more home owners to get off the fence and into this market!  The lack of supply is killing me. 

If you are a buyer, get out there and buy something before prices get too much higher and before interest rates start to creep up.  Go get your mortgage pre-approval (they’ll hold it for 3 or 4 months; call me if you need help with that) and hit the pavement.  Affordability is still great (incomes have improved over the last year, and rates are still relatively very low); you’re not going to ‘miss out’ for life if you don’t buy this week.  However, these rates won’t last forever.  If you are thinking of waiting ‘til next year, reconsider. – SM

Room of the Week: Gimme something different

Sometimes I get hung up on “rules” in decorating. Matchy matchy stuff: Can you do a dark wood floor in one room and a concrete floor in another? Or can you can do a vintage light fixture in the hallway and a modern one in the dining room? I get almost frantic with insecurity even though my instincts are screaming at me to relax. Often, in these times of decorating distress, I dial my friend GG’s number and ask her for her thoughts, to which she replies “Emily, you know I don’t believe in rules. If you love it, it will work.” Then I feel more secure to go off the beaten path and try new things.

This week I have seen many homes for sale that have taken a fresh direction in their decor. No rules for them. I have also seen many homes that have followed all the rules and hey, they look great too. I know the ones who went off the beaten path probably had to fight their Realtors and Home Stagers on removing lots of the flashy fun stuff, so I can’t wait to see which properties sell first.

This image above, a loft in NYC (from Marthastewart.com) is one that I greatly admire. Certainly there are some rules being followed, but in a super fun way. Colour and pattern, a mix of furniture eras and materials make for a comfortable looking, attainable yet somehow contemporary room. -EN

Wordless Wednesday

First attempt at apple pie. “Rustic” would be apropos. -EN

Our Reno: Well Looky Here, We Have Walls!

Okay so I’m back to being excited about my new room, after a short bout of house envy.

My guys (as I affectionately call them) have done an incredible job this week, working long hours to get the floor and walls up. Last night the kids, J and I climbed up onto the plywood platform, the footprint of the room, and just stood around watching the sunset. I never thought about the fact that we’ll be able to see that pretty view each night with our glass wall of windows and doors. What an added bonus.

My Kohler bathroom fixtures arrived as well (the tall Purist tap in Moderne Gold is stunning). And the Nor Am windows and doors will arrive on site next week most likely. What progress!

Have I told you how much I respect my contractors? Prolific Contracting. They are just great. I am so tired of the usual reno disaster stories, and have made special effort to be as respectful, communicative and curtious as I can to my crew in order to lay the groundwork for a great working relationship. But with them it’s a piece of cake, they are simply fantastic and have gone above and beyond the scope of the job to make us happy.

Now if only my 6 month old baby would sleep for more than an hour at a time at night, this week would be almost pefect! -EN

Reno Remorse?

I have had a really busy week with listings and buyers, and it’s been an emotional rollercoaster. Two of my buyers missed out on houses in competition and, well, they are bummed. It’s a very turbulent ride when you find a house, fall in love with it, make an offer on it, then lose it to another more aggressive offer. It can be discouraging to say the least. I’m very sympathetic to the ups and downs of this process because I’ve been there, and remember well trying to get into the housing market years ago and losing out on not 1, not 2, not 3, but about 5 houses! I didn’t give up, and I’m so glad.

This same week I walked into a house that I really fell in love with. I felt an intense connection to it immediately. It needed work but I mapped out what I’d do so quickly and easily as if it was the most natural thing in the world.  I couldn’t stop thinking about it well into the night, and again the next day. I tried to forget about it but I couldn’t. I even dragged my family there and, well, THEY loved it too. Even my husband was feeling it although I know he tried not too.

But guess what? We are in the middle of our reno so we ain’t going nowhere.

Am I feeling reno remorse? Yes.

Will I get over it and keep on trucking? Yes.

Will there be other houses like it when I am ready to sell? Yes.

Will I love my new room when it’s done? Yes.

Do I want the rollercoaster to stop so I can get off? No! That’s what makes the business and the reno so much fun! -EN

Fall Update: Interest Rates and Mortgage Options – by Georgia Stamatakos

It’s been a full year since the global economy nearly collapsed, sending stock and real estate markets into a tailspin. In that time governments, companies, families and individuals have all made changes to how they approach financial decisions and how they plan for their financial future.

Despite conflicting and ever-changing economic news, one thing is certain – any recovery that is being seen in the Canadian economy is minor and tenuous. While real estate in the Toronto area has proven resilient, the same cannot be said of Vancouver, Calgary, or other major real estate areas. Unemployment is high, inflation remains low, all levels of government are running deficits, and consumer spending remains cautious.

In this continuing uncertainty only one thing has remained consistent – record low interest rates. The Canadian federal government has committed to leaving the overnight rate at an historic low of 0.25% until June of 2010, and the resurgent stock market has resulted in low or decreasing bond yields leading to consistently low mortgage rates. These low rates will likely continue for the next six to eighteen months as the Canadian and American economies struggle to regain a sense of confidence and realize consistent and tangible growth.

Record low rates make it an ideal time to enter or move up in the real estate market. The first step for any potential buyer is to get pre-approved by an experienced mortgage specialist. A pre-approval will guarantee a rate for up to 120 days, allowing buyers to take their time shopping, secure in the knowledge that they will not be paying more than a certain amount of interest.

Locking in a low rate does NOT, however, mean locking in for a long term. Only a small portion of homeowners stay in the same property more than three years, and many homeowners who locked in over the previous two years – when rates were at another very low level – ran into expensive penalties trying to modify or break their 5-year terms.

Mortgage products should be tailored to an individual buyer and their resources, needs, long term plans and tolerance for risk. For most homeowners, variable products and shorter terms offer flexibility that allows them to not only pay the least amount of interest possible, but also create more equity while allowing owners to adjust to unforeseen changes, both positive and negative, that can influence where you live, what you can afford, and what you plan to do there. If a homeowner prefers security, they can always pay a premium to lock in for a longer term, but a good mortgage specialist will advise them of both the benefits and the risks that approach can involve.

Ultimately, the best way to take advantage of these record low rates is to get an honest and thorough perspective on your financial situation, then develop a plan that best suits your goals and needs. Don’t simply fall into a long-term mortgage, or spend more than you can afford, because ‘you’ll never have this opportunity again’.  Take some time in advance to determine what you can do, why you want to do it, and what it will really cost over the next several years. Yes, rates will go up again, but by how much, or for how long, nobody can say. Take advantage of what you know now to better prepare yourself for when rates do eventually rise, and you will be in the best position possible to make your plans come through!  -GS

Our Reno: Pits and Pit Falls

 

I posted a Status Update on my Facebook page last night, it said “lots of true colours coming out now that the reno is in full swing. Sometimes makes me wish we just moved.” A friend replied “time to update the blog so we can live through it with you.” Which was good advice (thanks ATM).

So here’s what went down. The day day started off beautifully, everyone up and at it before 8 am, and we made amazing progress all day long. Finally we are seeing some major changes instead of the endless prep work that’s so necessary. We had our ‘pit’ dug out by my guys and their diggers in preparation for the foundation, supports made, inspectors called, the works. Hard hard work. I rewarded them with some great pasta and lots of encouragement.

But just when you think all is going well, the neighbours start poking around. Neighbours we’ve never had any problems with, neighbours we’ve always had problems with, and everyone in between.

Backing up, we are PERMITTED to the nines. Part of the endless prep was meetings upon meetings with our architect and city planning departments. Plus site visits and drawings to get it all perfect. We know the setbacks required by the city, we know the building areas allowable, we know everything and stayed well within the “rules” so that we wouldn’t bug any neighbours and could Fast Track the permit. To show for it,  we have our little square permit in our window so all can see that we aren’t trying to hide anything. It’s a room people.

I knew that I needed a permit not only because of city requirments,  because of this: Reno’s make people crazy!! Not just homeowners but neighbours. Friendships can be ruined by them, people move because of them, and on and on. I think it’s very weird only because I have a real fondness for home improvements. I believe they increase the value of not only ones property, but those around them too. It shows you care about your home and think it’s worth making a bit better. I have never ever faulted anyone for building onto their home, unless it’s totally infringing on someone elses property.

And so it goes that last night one of our neighbours got a bit too aggressive and called the old “friend who’s a contractor who told me blah blah blah” and tried to shut us down. But it didn’t work, and it was handled beautifully by my little team. But lets just say it’s going to put a strain on the neighbourly relations.

Because of what I do for a living, I am temped to move all the time. Just the other day I saw a great house with a fab pool in the background and not 1 but 2 sheds for my husband and I thought WOW, I would have totally bought this sucker. But no, I’m renoing!

Good fences make good neighbours. Our new fences are next on the list. -EN