Ajax Pickering Real Estate Blog

By Lori Mcleod, Real Estate Reporter, Globe and Mail

The Bank of Canada’s decision to cut its key lending rate has paid off the way home buyer David Barbuto hoped, even before he takes possession of his townhouse in Pickering later this month.

Mr. Barbuto, a 39-year-old self-employed associate creative director, decided to go with a variable mortgage despite his girlfriend urging him to opt for the security of a fixed rate.

Variable mortgage rates are moving lower in tandem with the central bank’s quarter-percentage-point rate cut yesterday. For Mr. Barbuto that reinforces his mortgage decision; one that has gone against where much of the crowd has been heading as of late.

“I felt comfortable going for the lower rate of a variable mortgage. I don’t have a crystal ball, but whichever way things go I can look at my mortgage again in six months and decide whether to keep going with variable or lock-in if the posted rates drop,” he said.

The quarter-point rate cut to 4.25% will likely put some confidence back into the market, and that should attract more customers to variable mortgages in the near term, said John Schipper, president of Mortgage Intelligence Inc.

“Unfortunately, people have been worried by all of the headlines. In the next 30 to 60 days I think more people will realize that variable-rate mortgages are a reasonably safe investment and that market will pick up a bit,” Mr. Schipper said.

While the rate cut isn’t really material, it’s a move in the right direction for the mortgage industry, he added. Many of the attendees at a large mortgage conference in Toronto this week expected that rates would go up and were happy that didn’t happen, Mr. Schipper said.

Bank of Nova Scotia was first out of the gates following the Bank of Canada cut, lowering the rate on some of its variable mortgages by a quarter of a percentage point to 6%. The posted rate on a five-year fixed mortgage at the big banks is 7.44%, and a mortgage customer with good credit can likely get that discounted to 6.75%, Mr. Schipper said.

Home buyers have been worried about the turmoil in the U.S. housing market, and have been more willing to pay a little more for the security of locking in, he said. But Mr. Schipper said he does not expect any of the banks to lower the rates on fixed mortgages in the near term.

The Bank of Canada’s overnight rate, or the amount of interest it charges financial institutions for short-term loans, affects the cost of variable mortgages. Fixed-rate mortgages are based on bond yields, and then have a premium added on.

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Serenade and Mariposa offer the choice of superb Pickering and Ajax locations

Talking townhome? Then talk to The Rockport Group. They’ve got a fine selection to offer, in two excellent Durham Region locations.

Serenade will have you living right in the heart of downtown Pickering, conveniently close to parks, schools, restaurants, a full recreation centre, a great shopping mall, major highways, just to mention some of the great area features.

Mariposa offers an ideal south Ajax location, right by Pickering Beach. Bordering conservation lands, the community is convenient to every amenity, in an established neighbourhood, offering excellent schools, shopping, parks and recreation facilities. Both locations offer great highway and GO Transit access, making either an excellent option for an easy commute. Both communities also offer the esteemed reputation, high quality craftsmanship and an excellent after sales service program that is a part of everything built by The Rockport Group.

Serenade is a collection of beautiful townhomes, ranging from 986 to 1,365 sq. ft. These townhomes offer living space spread over three and four floors, maximizing on available floor space and allowing you to organize your space to your best advantage.

The garage has a direct entrance into the basement floor of the home. A number of designs offer a finished area of the basement. This space is quite advantageously used for a family room or computer room. Offering plenty of privacy as it is separate and out of the way of the main traffic of the house. It’s also the perfect place for those doing homework; alternately, the kids can have friends over, you can set up the home theatre system or enjoy the stereo, and the rest of family doesn’t have to listen in.

Main floors have been designed in a semi-open concept. Some designs have the kitchen partially closed off from the living/dining room, but utilize a pass through, making easy work of serving and clearing the table. Other designs have a breakfast bar finishing at a ledge that borders the living/dining room.

Walk-outs from the main floor include a front patio and rear terrace so that you can always enjoy stepping into the outdoors and some sunshine or a sunset. End units also include a covered porch at the side. The option of an electric fireplace in the living/dining room will be a family favourite as the weather cools.

Second floors feature two bedrooms. Three storey homes feature a loft that takes up the top floor. Some homes utilize the loft space as a master suite, creating quite a spacious retreat, including a Juliette balcony, a luxurious ensuite, large walk-in closet and even the option of having an electric fireplace in the bedroom.

Homes include an excellent selection of features and finishes that include secured lock boxes hidden away, central air conditioning, and a variety of optional features that allow you to customize your home to your needs and personal comfort.

Perhaps you’d prefer a community in Ajax, where The Rockport Group is building Mariposa. Mariposa offers wide body freehold townhomes that range from 1,320 sq. ft. up to 1,918 sq. ft. These three bedroom homes offer ample living space, spread over three floors in most plans. Lower floor designs are different in each home. Many offer a walk-out to a back patio. Lower floor family rooms make a great teen retreat. Lower floor communication corners offer a great out-of-the-way space for the computer so that users can enjoy privacy while they work without the computer taking over an entire room. For families that need a fourth bedroom, the lower floor bedroom with its own ensuite is a great choice.

Spacious main floors are further enhanced by nine foot ceilings. Main floors offer some interesting layouts. Some are open concept, laid out with the kitchen opening onto the Great Room. Others offer a more formal arrangement, with a big country kitchen at the rear and the living/dining room to the front. A pass through between the two is an innovation that is also used in these townhomes. Walkouts to a back deck have steps where the grade permits, offering access to the rear patio and yard. Gas and electric fireplaces are optional as per plan.

Upper floors offer three generous bedrooms. Master suites include an ensuite, most include a walk-in closet. One plan has a den and laundry on the upper floor. Other designs include main floor laundry or a finished basement laundry room. These homes also include a hidden secured lock box and a great variety of additional features like a bay window, an enclosed main floor communication corner, a hall linen closet and direct entry from the garage, as per plan.

To find out more about the home that would best suit your needs, visit these communities and take a closer look. Both of these desirable Durham locations offer gorgeous townhomes and the wonderful guarantee of Rockport Group quality and craftsmanship built into each.

Project Name: Serenade
Location: Pickering
Housing Type: Townhomes ranging from 986 to 1,365 sq. ft.
Starting Price: $199,900

Project Name: Mariposa
Location: Ajax
Housing Type: Extra-wide freehold towns up to 1,918 sq. ft.
Starting Price: $227,900

New Homes & Condos Magazine is an excellent source of housing information for those looking for information on new homes in Ontario, Canada. We offer the most up-to-date information on new communities across the Greater Toronto Area.

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Contact the Jeffrey Team for more information - 416-388-1960

Chestnut Hill Homes offers a limited-time sports equipment gift package with each purchase at San Francisco By The Bay

San Francisco By The Bay is making a big splash on the shores of Frenchman’s Bay in Pickering. The community offers an appealing selection of condominium suites and townhomes from an award-winning builder, value-packed prices, innovative designs, fabulous features, parkland and greenspace, along with an incredible location. For the next few weeks, there are six more reasons to choose San Francisco By The Bay as your home – a raft of toys to help you start enjoying life here right away. Chestnut Hill Homes invites buyers to “Live Where You Play” by offering a special sports equipment gift package. With each purchase (upon occupancy), receive his’ and hers’ pairs of inline skates, two mountain bikes, a kayak for two, plus the opportunity to enter to win a Sea-Doo.

The package celebrates the recreational opportunities in this outdoor-lover’s haven, which is handy to walking and biking trails and is just steps from the bay. Master-planned, pedestrian-friendly San Francisco By The Bay is located at Bayly Street, just east of Whites Road, close to the Pickering Town Centre, Pickering GO station and Hwy. 401. The prices are so reasonable, that in many cases it would cost more to rent an equivalent space elsewhere – a fact that is attracting everyone from first-timers to young families and empty-nesters.

A great selection remains in the 16- and 18-ft. condominium towers, which share a two-storey podium that will include 25,500 sq. ft. of retail-commercial suites including live-work units. Active residents will appreciate the 12,500-sq.-ft. amenity area, where they can work out in a fabulous fitness room, take a dip in the indoor pool, entertain friends in the party room that opens onto a deck, host gatherings in the multi-purpose room, or just unwind with the latest best-seller in the quiet reading lounge.

In the suites themselves, owners will reap the benefits of individually controlled heating and air conditioning, a stacked washer and dryer, four kitchen appliances, ceramics, engineered laminate hardwood flooring and much more. These one- and two-bedroom designs, many with dens, start from the $160’s.

Those who choose a townhome will enjoy luxurious interiors framed by brick, stone and/or stucco exteriors, most with a rooftop garden. Each townhome includes two parking spots, vinyl casement windows, engineered floor systems, nine-ft. main-floor ceilings, designer-imported ceramics, custom-styled kitchen cabinetry, and more. Prices start from the mid-$200’s.

If you’d like to Live Where You Play, act soon to take advantage of the limited-time gift package. (Qualified purchasers will have the option of accepting the cash equivalent of any of these prizes if they wish. Some restrictions apply.

San Francisco By The Bay buyers come out for a specialized banking seminar

For a first-time purchaser, buying a condominium suite or townhome means an exciting new lifestyle – and possibly some financial questions.

Recognizing that, developer Chestnut Hill Homes recently hosted an event for their San Francisco By The Bay community in Pickering, popular with a range of buyers, including those making their first home purchase. With a selection of tasty summer refreshments on offer, the team at Chestnut Hill welcomed some VIP guests, as well as their VIP buyers, to discuss the banking aspects behind buying a suite or townhouse in the community.

The Condo Guide Magazine is an excellent source of housing information for those looking for information on new condos in Ontario, Canada. We offer the most up-to-date information on new condominiums across the greater Toronto area.

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Contact the Jeffrey Team for more information - 416-388-1960