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Eric Skicki

Breaking New Records In Square One

Written by Eric Skicki Thursday, April 14th, 2016
  • missisauga-market

    The first quarter has been a great start to the 2016 real estate market. With home prices once again at all-time highs, buyers found themselves scrambling in multiple offers trying to find the perfect home. Typically this only occurred with freeholds (houses, semi-detached, and townhouses), but for the first time this year, we saw this phenomenon carry out into the condo market.

    The following trends are now happening in downtown Mississauga.

    More Sales / Low Inventory

    The number of condo sales in City Centre in 2016 is up by 30% over the same time period last year.

     

    This spike is mainly the result from a few new condo projects that were completed since 2015. This includes Pinnacle Uptown’s Crystal condos and Mirage.

    We expect to have even more inventory later on this year as we get ready for the completion of PSV 1 and PSV2.

     

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    • This entry was posted on Thursday, April 14th, 2016 and is filed under ALL Articles, Market Statistics.

    Eric Skicki

    Condo Closing Costs

    Written by Eric Skicki Wednesday, February 24th, 2016
    • closing-costsClosing costs are the fees which are associated with finishing any real estate transaction. In Ontario, these are usually paid for by the buyer, and usually cannot be added to the mortgage. Buyers must have money set aside on top of their down-payment to ensure they can take smooth possession of their property.

      In this blog post, we will cover the different types of closing costs and how they apply to both resale and pre-construction condos.

       

      Resale Condos

      Resale condos (those we find on MLS or on MySquareOneCondo) typically have what is commonly referred to as “standard closing costs”. These usually include items like lawyer fees, disbursements, mortgage charge and land transfer tax.

       

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      • This entry was posted on Wednesday, February 24th, 2016 and is filed under ALL Articles, Articles for Buyers, First Time Home Buyer. Tags: , ,

      Eric Skicki

      8 Things to Know About Mississauga Condos in 2016

      Written by Eric Skicki Thursday, January 21st, 2016
      • mississauga-2016-8thingstoknow

         

        Prices Are Going Up

        As we welcome 2016, it’s no surprise that condo prices in Mississauga continue to increase at around 3% per year. The major drivers of this force are freehold homes, which have increased in some places by nearly 60% in the past decade. Condos have become the norm for all first-time home buyers and investors.

        Investors continue to enjoy the low 1.2% rental vacancy rates that Mississauga has to offer.

        First-time-buyers might be surprised to see certain buildings such as City Gate, list one bedroom + dens for around $300k and sell. Similar units 2-3 years ago were selling in the $270’s range.

        Local Buyers Compete Against International Buyers

        One of the key factors driving Mississauga Condo prices up; are international buyers. Although the exact number of foreign and overseas ownership is not available for public, experts estimate this number to be as high as 15-20%. With the falling Canadian dollar (around $0.68 at the time of writing this article), Mississauga real estate looks like a “good buy” for many people abroad.

         

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        • This entry was posted on Thursday, January 21st, 2016 and is filed under ALL Articles, Market Statistics.

        Eric Skicki

        The Falling Canadian Dollar Brings International Condo Buyers

        Written by Eric Skicki Tuesday, November 3rd, 2015
        • CANADIAN-DOLLAR

          Exactly 33 months ago the Canadian dollar was at par; even a little higher than the American counterpart. Cross-border shopping was cheap and Canadians took advantage by buying anything from clothing to cars, and even properties down south.

          Since then, the Canadian dollar went down by roughly 25%. What does that mean for us here in Canada hoping to buy real estate?

          Firstly, buying any property outside of Canada automatically costs 25% more than two and a half years ago. Those earning income in Canadian dollars prefer to keep their money in Canada as the conversion rate is too high if they were to invest in the United States.

           

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          • This entry was posted on Tuesday, November 3rd, 2015 and is filed under ALL Articles, Market Statistics.

          Eric Skicki

          Ontario Condo Act Changes

          Written by Eric Skicki Tuesday, October 6th, 2015
          • condo-act

             

            The Condominium Act in Ontario has been passed 17 years ago. Due to the new dynamic shift, and more and more condos being built, it is to no surprise that the number of condo units owned is estimated to be around 700,000. Over 300 of these condominiums are registered in Mississauga. It is also estimated that there are about 1.3 million condo owners and 10,000 condo corporations. It is inevitable that change comes about.

            The new proposed revisions to the act will be put in place to increase consumer protection for both buyers and owners. Improve how condos are managed and run and to strengthen the reserve fund for condos.

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            • This entry was posted on Tuesday, October 6th, 2015 and is filed under ALL Articles, Articles for Buyers, Articles for Sellers, First Time Home Buyer. Tags: , , ,

            Eric Skicki

            Sold My Condo – What’s Next?

            Written by Eric Skicki Tuesday, August 4th, 2015
            • sold condo

              Mississauga condos continue to be a great option for first-time home buyers, investors, couples or people who choose to live alone. With prices still below $500 a square foot in the downtown area, the market continues to favour buyers with prices increasing moderately year over year. 

              For anyone looking to sell a condo, the market dictates that on average condos in the City Centre (downtown Mississauga) area sell for 97% of asking price and within 39 days (Toronto Real Estate Board Stats for 1st quarter of 2015).  

              An interesting trend has emerged where those who sell their Mississauga condo move further out west; primary Oakville, Burlington or Milton. These three cities are not known for their high-rise condos, but rather seen as “great places to raise a family”.

               

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              • This entry was posted on Tuesday, August 4th, 2015 and is filed under ALL Articles, Articles for Sellers. Tags: ,

              Eric Skicki

              Pinnacle Uptown 3 Condo VIP Release – Amber

              Written by Eric Skicki Monday, June 8th, 2015
              • amber-condos

                 

                Great news folks! Today Pinnacle released their next condo project that will be located by Hurontario & Eglinton Ave W. Currently, Pinnacle has 2 towers, Crystal, at 55 Eglinton Ave W & 75 Eglinton Ave W. The 3rd and 4th proposed towers called “Amber” will be located behind the first two towers.  Standing at 23 and 26 storeys, the 1 Bedrooms will start as low as $260,900 & the 2 Bedrooms as low as $340,900. After the success of Crystal, this new set of condos will retain the same interior finishes and have a similar exterior glass look. Just as Crystal, Amber aims to have one large lobby connecting the two towers. Pinnacle is also famous for their other project close to Square One Mall; Pinnacle Grand Park 1 & Pinnacle Grand Park 2.

                The Community

                Amber will be situated close to Highway 10 and Eglinton Ave W. Currently, there are 3 Plazas surrounding the project that offer a variety of services such as Service Ontario, Post Office at Shoppers Drug Mart, Florists, LCBO, Convenience Stores & Scotiabank. Restaurants such as Montanas, Harvey’s, Swiss Chalet & Cora’s are within walking distance. As well as, Starbucks, Tim Hortons, & Oceans fresh food market are also within reach. 

                 

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                • This entry was posted on Monday, June 8th, 2015 and is filed under ALL Articles, Condo Features, Pre-Construction Condos. Tags: , ,

                Eric Skicki

                4 Reasons to buy a Pre-construction Condo in Mississauga

                Written by Eric Skicki Monday, June 1st, 2015
                • should-i-buy-a-condo

                  Prices are still low – Mississauga pre-construction condos are often below $500 a square foot, which is much cheaper than other major cities. By default, pretty much all pre-construction condos sold today in Mississauga come with one locker and one parking spot. In places like Toronto, parking spots are often reserved for only 2 bedroom units and buyers have to pay up to $50,000 (or more!) to actually get a parking spot.

                  With each new building coming up, prices set by the builder tend to increase slightly. Buying early at the VIP stage ensures that you get the first pick of a unit at the lowest possible price.

                  The downtown core is still growing – The number of condos in downtown Mississauga has almost doubled in the last 12 years.  Over the next decade, we can see as much as fifteen additional condos within the Square One area getting constructed. With the expanding downtown Mississauga core, we not only see more condos but also more roads, transportation and places to entertain. The recent opening of the Bier Markt has created a lot of buzz online.

                   

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                  • This entry was posted on Monday, June 1st, 2015 and is filed under ALL Articles, Investment. Tags: , , ,

                  Eric Skicki

                  Block NINE condo VIP sale in now on!

                  Written by Eric Skicki Saturday, April 18th, 2015
                  • banner-nine-condos

                    Exciting news today as the famous builder Amacon is once again presenting a brand new condo project in downtown Mississauga called “Block NINE“.  The project is not open to public or real estate agents yet, however as always we have VIP access for our clients and we can book up to two units per person starting today. At the moment they are releasing the first (south tower) only. 

                    Since this is a pre-release sale, all interested parties must contact us directly at 647-689-7517 and book an appointment to the sales center.

                    – There are one bedroom units ranging for 546 square feet up to two bedroom units with large terraces totalling over 1600 square feet

                    – The project is scheduled to be completed in June 2018

                     

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                    • This entry was posted on Saturday, April 18th, 2015 and is filed under ALL Articles, Pre-Construction Condos. Tags: , ,

                    Eric Skicki

                    An Open Letter To All Condo Property Management Companies

                    Written by Eric Skicki Tuesday, April 7th, 2015
                    • condo lobby

                      Over the years we have been blogging about Mississauga condos by mainly offering tips for buyers and sellers. This special blog is being dedicated to all condo property management companies in Mississauga. The purpose of this blog is to shine a different perspective on what Realtors and the public feel is the role of a condo property management company, and how to increase overall condo owner satisfaction within any given building.

                      As an active Realtor, I have seen it all; the good, the bad and the ugly when it comes to condos and the property management companies that run them.

                      The “good condos” are simple; the buildings are clean, the guidelines are strictly enforced, there are updates made in some of the older buildings, issues are addressed and fixed quickly.

                      The “bad condos” have a few problems, that can be fixed relatively easily. Minor things that need to be addressed, such as outdated gym equipment, burnt light bulbs and constantly broken elevators. There may also be a need to change a contract for landscaping or the window cleaners, but generally speaking, these condos still have hope.

                       

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                      • This entry was posted on Tuesday, April 7th, 2015 and is filed under ALL Articles, Other. Tags: , , , , ,

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