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who we are Peng Hock Tan
Kai Min Tan
Ola Akinyemi
When it comes to providing excellent real estate services, Peng Hock Tan always puts the interest of his client’s at heart first. Creativity and patience are the substance of his ability to provide the necessary guidance and clarity in assisting his clients during their crucial decision making process. Aside from real estate, Peng Hock Tan enjoys sharing his passion for food and love for gardening!
Being passionate about doing the things you enjoy is important, for Kai Min Tan, one of those things are real estate. His client’s are fond of his refreshing, insightful and positive demeanor which we are sure you will also appreciate. Outside of real estate, Kai Min Tan enjoys following up on the world of cutting edge technology and intriguing mixology.
Ola is looking forward to making customers and clients love Royal LePage Meadowtowne as their #1 Real Estate Brokerage. He brings a wealth of financial industry experience to the team having worked with Senior Executives at several leading Financial Institutions in Canada at various capacities in delivering value to customers for more than a decade.
Senior Real Estate Broker & Real Estate Advsior
Real Estate Sales Representative
enjoying what we love doing The TanTeam provides you with an unparalleled level of service and attention when it comes to an important decision such as buying and selling your home. Our passion and knowledge of the area and commitment to making a difference has helped us build a name for offering the highest level of customer service possible. Call The TAN Team now if you are planning to buy or sell your next home.
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Designer: Kai Min • Cover: Hozu River, Kyoto In Autumn • Source: Ikunl • Advertising: Kai Min | support@tanteam.com Royal LePage Meadowtowne Realty™ is a licensed franchise to Royal LePage and is Independently Owned and Operated. Whilst every care has been taken in preparing this magazine, Tan•gazine and all vendors, corporations, business’ and affilliates give no warranty for the information contained herein. Potential purchasers shall satisfy themselves as to all matters and seek independent advice, if necessary. The views expressed in the article(s) throughout Tan•gazine are those of the author and do not necessarily represent the views of The TAN Team and its affiliates. The information contained herein does not form any part of any contract, offer or representation. Additionally, this magazine is not intended to solicit properties currently contracted and/or already listed for sale.
table of
CONTENTS
october - november 2018 volume 05 issue 11 SEPTEMBER REAL ESTATE INDEX
GTA DETACH AVG PRICES (2018 • $ 796,786 | 2017 • $ 774,489 | +2.87%) SALES (2018 • 6,455 | 2017 • 6,334 | +1.90%) 1 YR MORTGAGE (2018 • 3.49% | 2017 • 3.09% | +12.94%)
04 ................... GTA Home Sales Shake off ‘Very Dark Period’ 05 ................... September 2018 GTA REALTORS® Release Monthly Resale Housing Figures 06 ................... Toronto's housing market stabilizes after turbulent year as sales rise, prices steady 07 ................... Annual Year End Event Just Around The Corner! 07 ................... Toronto's 'moment' in tech sector brings $500M investment by Shopify 08-09 ................... 2018 Summer-Fall - October-November TanTeam Listings 10-11 ................... Wine and Lifestyle Section - New!
Opportunities don't happen. You create them -Chris Grosser
GTA Home Sales Shake off ‘Very Dark Period’ TESS KALINOWSKI SEPTEMBER 26, 2018
The Toronto area’s high-priced housing market is climbing again, with double-digit sales gains this summer expected to continue through the fall, according to two real estate company reports. Sotheby’s International Realty Canada says the fall luxury market will run “at full throttle” now that the Toronto region has shaken off the malaise of “a very dark period” following the Ontario Fair Housing policy and new mortgage rules. “We expect the market is going to continue to get stronger. After we turn the clock to 2019 you’re going to see year-over-year comparisons continuing to be very strong,” said CEO Brad Henderson. He expects upward pressure on prices to continue in the Toronto area, gaining in the range of 3 to 4 per cent through the fall. The Toronto Real Estate Board reported yearover-year price increases of nearly 5 per cent across all re-sale home categories in July and August. The company defines luxury as homes more than $1 million, which is actually below the City of Toronto’s August average detached house price of $1.24 million. The number of single-family homes that sold for more than $1 million in the City of Toronto in July and August rose 12 per
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cent. Across the Toronto region, sales climbed 20 per cent. The number of sales may have been hampered by a shortage of listings, particularly in the $1 million to $2.5 million price range, said Sotheby’s. Henderson predicts high single-digit or low double-digit year-over-year growth in 2018, particularly in the more costly downtown areas where buyers are again competing for properties. “A lot of people are wishing they had bought towards the end of spring this year because now as the demand is continuing to rise and price pressure is continuing to rise with it, they’re finding prices are starting to move in the upward direction. It’s moving away from what people might have thought was a buyers’ market,” he said. It isn’t the kind of bidding frenzy common in early 2017. Back then five or 10 offers on a house was common compared to two or three offers now. But Henderson said it is enough to prompt the two or three people who didn’t win that bidding war to bid higher on the next one in order to try and secure the property. Even the relatively small super-luxury category — defined by Sotheby’s as homes $4 million and up — is gaining ground, with 72 sales in that range moving this summer. That is a 35 per cent increase in sales in the Toronto region and 50 per cent above last year in the City of Toronto. High-priced condos also saw significant sales gains in the summer as buyers favour urban lifestyles with a 28 per cent rise in sales over $1
million in the Toronto area and 21 per cent in the City of Toronto. Re/Max reported that entry-level detached houses priced between $600,000 and $900,000 also saw 22 per cent sales growth since June. It suggests that the shortage of inventory for those homes in the City of Toronto could push some buyers to expand their search to the 905area communities, where the housing recovery has been slower. Move-up buyers ready to cash in their equity are expected to take advantage of softer conditions at higher price points, says the report. The Toronto Real Estate Board warned earlier this month that tight market conditions could lead to accelerated price gains as there is a shortage of homes to buy in some Toronto neighbourhoods. A shortage of new construction homes in the Toronto area is contributing to the tight re-sale housing market, said Henderson. The Toronto activity is in direct contrast to Canada’s other high-priced housing market in Vancouver, he said. That city’s “fragile recovery... got knocked on its back,” by an expanded foreign buyers tax and a speculation tax, said Henderson. Vancouver sales in homes over $1 million dropped 24 per cent year-over-year this summer and $4 million-plus sales were down 33 per cent.
September 2018 GTA REALTORS® Release Monthly Resale Housing Figures TORONTO REAL ESTATE BOARD OCTOBER 03, 2018 Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 6,455 sales through TREB’s MLS® System in September 2018 – up 1.9 per cent compared to September 2017. The average selling price for September 2018 sales was up by 2.9 per cent over the same period to $796,786. The MLS® HPI composite benchmark price was up by two per cent year-over-year. New listings entered into TREB’s MLS® System in September 2018 amounted to 15,920 – down by 3.1 per cent compared to September 2017. With sales up year-over-year and new listings down, market conditions became tighter. Many buyers may have found it more difficult to find a home meeting their needs. “It is healthy to see sales and prices in many areas across the Greater Toronto Area up a bit, compared to last year’s lows. At the same, however, it is important to remember that TREB’s market area is made up of over 500 communities. Market conditions have obviously unfolded differently across these communities. This is why it’s important to work with a REALTOR® who is familiar with
local market conditions in your areas of interest,” said Mr. Bhaura. “While higher borrowing costs and tougher mortgage qualification rules have kept sales levels off the record pace set in 2016, many households remain positive about home ownership as a quality long-term investment. As the GTA population continues to grow, the real challenge in the housing market will be supply rather than demand. The Toronto Real Estate Board is especially concerned with issues affecting housing supply as we move towards municipal elections across the region,” added Mr. Bhaura. On a monthly basis, after preliminary seasonal adjustment, sales edged up by 0.2 per cent in September 2018 compared to August 2018. The average selling price, after preliminary seasonal adjustment, edged lower by 0.5 per cent month-over-month. “Generally speaking, annual rates of price growth have been stronger for higher density home types in 2018, including condominium apartments, townhouses and semi-detached houses. In many neighbourhoods, these home types provide more affordable home ownership options. This is why a policy focus on increasing middensity housing options throughout the GTA is important,” said Jason Mercer, TREB’s Director of Market Analysis.
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Toronto's housing market stabilizes after turbulent year as sales rise, prices steady NATALIE WONG BLOOMBERG NEWS SEPTEMBER 6, 2018
Toronto’s housing market kept its footing August as sales gained while prices were little changed, continuing to stabilize after a turbulent year. Sales jumped 8.5 per cent to 6,839 in August from the same period a year ago, the Toronto Real Estate Board reported Thursday and were up 2 per cent on a seasonally adjusted basis from July. Average prices rose 4.7 per cent from a year earlier to $765,270 but benchmark prices, which measure the value of a typical home, fell 0.5 per cent from July to $764,800. The housing market in Canada’s biggest city has been stabilizing over
the past few months, following a sharp plummet earlier in the year after various government regulations were implemented to rein in prices. The market began to crack in April last year after a foreign buyers tax was put in place but has recovered much of the decline over the past few months. “Many home buyers who had initially moved to the sidelines due to the Ontario Fair Housing Plan and new mortgage lending guidelines have renewed their search for a home and are getting deals done much more so than last year,” Garry Bhaura, president at the housing board, said in a statement. Detached homes lagged other housing segments in August, with the benchmark price dropping 1.9 per cent from a year ago to $914,900. Meanwhile, condo apartments led the
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price gains, jumping 9.9 per cent from last August to $505,500.
“Despite the fact the sales remain off the record highs from 2016 and 2017, many GTA neighbourhoods continue to suffer from a lack of inventory,” said Jason Mercer, TREB’s director of market analysis. “This could present a problem if demand continues to accelerate over the next year, which is expected.”
New listings were up 6 per cent from a year ago to 12,166. Active listings rose 8.8 per cent to 17,864, from 16,419 last year. CONTACT THE TANTEAM IF YOU HAVE ANY QUESTIONS ABOUT THE REAL ESTATE MARKET! 905-821-3200 • SUPPORT@TANTEAM.COM
Annual Year End Event Just Around The Corner! BY THE TANTEAM EDITORIAL OCTOBER 1, 2018
Our annual year end event is just around the corner!
Mark the calendars as we approach Saturday, November 24th, 2018. To ensure you are on the guest list, please contact The TanTeam for more information on the location and the event timing! We are hosting the event again somewhere familar...For more information contact us at support@tanteam.com!
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Toronto's 'moment' in tech sector brings $500M investment by Shopify CBC NEWS OCTOBER 1, 2018
Shopify Inc. says it's taking advantage of a unique moment in the Toronto tech sector by investing up to $500 million in a new development downtown. The investment will be used to buy real estate in the city's core and to hire hundreds of new employees. Satish Kanwar, vice-president and general manager of channels at Shopify, says the expansion is coming six years after the Ottawa-based e-commerce company first opened offices in Toronto. The company now has 700 employees here in three offices. "It's a big deal," Kanwar told CBC Radio's Metro Morning on Monday. "What we've seen is just such a rich, diverse and global talent base that we have access to in the city. And Toronto is having a special moment in technology.
We're a major global technology hub, and as a Canadian company, we want a long-term investment in making and seeing that through to its reality." Shopify is a e-commerce platform that helps people start, run and grow businesses, by enabling them to design online stores and websites. The investment will more than double the company's "footprint" in Toronto, the company said in a news release. Toronto has created more jobs in technology than San Francisco and New York City in recent years and the city is building on research from its universities and colleges, Kanwar said. There have also been major investments made in start-up companies, he added. "We're finally realizing and seeing what the Canadian talent pool can do in the space," Kanwar said. "It comes with time and it comes with investment, but it has also just come from many years of developing what is a strong community
here, people that care." The company says it will lease about 23,597 square metres of space at The Well complex, to be built at Front Street West and Spadina Avenue. Allied Properties REIT and RioCan REIT are behind the building, which Shopify will begin occupying in mid-2022.
The company's announcement also comes after it revealed it would expand its King Street West office in Toronto in early 2019 by leasing over 16,536 square metres of space.
CONTACT THE TANTEAM IF YOU HAVE ANY QUESTIONS ABOUT THE REAL ESTATE MARKET! 905-821-3200 • SUPPORT@TANTEAM.COM
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WINE & LIFESTYLE • CRAFT WINE • PRODUCT UPDATES • STORE PROMOTIONS • STORE EVENTS • WINE REVIEWS • LATEST WINES • CRAFTERS CHOICE •
THE HOLIDAY IS JUST AROUND THE CORNER WITH LESS THAN 12 WEEKS - DON’T BE THE ONE WITHOUT A GIFT! HAND MADE AGED CRAFT WINE READY IN 5-8 WEEKS! • OPTIONAL GIFT WRAPPING AVAILABLE!
Carafe Meadowvale 1st Client Appreciation! CRAFT WINE EDITORIAL TEAM
We are proud to announce that we will be working in conjunction with The TanTeam for our very first Carafe Meadowvale Client Appreciation event! The staff at The TanTeam have a solid 15+yrs of experience in delivering some of the most
engaging and remarkably entertaining events! Invitations will be going out by mail, its an RSVP event only so be sure to contact Tina right away if you have any questions! support@carafemeadowvale.com Phone: (905) 814-4585
SAVE THE DATE!
SATURDAY, NOVEMBER 24, 2018 TO RSVP VISIT WWW.CARAFEMEADOWVALE.COM
CUSTOMER’s CHOICE TOP PICK Of September EN PRIMEUR WINERY SERIES WINE MAKER’S TRIO WHITE $240 - READY IN 6-8 WEEKS
YIELDS 30 X 750ML BOTTLES
This easy to drink wine is the perfect companion for your fall get-together. The wine exudes floral aromas, with hints of tropical fruit and lychee. The finish is crisp and clean. Fast Fact: Did you know that Pinot Grigio aka. Pinot Gris is from Burgundy, France? The word “Pinot” is derived from the French word for pine cone, and refers to the shape of the grape cluster.
What does it mean for a wine to be ‘native yeast fermented?’ BEPPI CROSARIOL SEPTEMBER 20, 2018
You’ll find words to that effect increasingly applied to wine labels these days. It means the wine maker relied on yeasts naturally found on grape skins and in the local air to ferment the juice. Put another way, no commercial yeasts were added. That’s how wine was made for thousands of years, of course. In fact, invisible yeasts that normally reside on the skins of fruit were what permitted humans to discover fermentation in the first place. Fruit either rotted or was intentionally crushed. Then the surface yeasts made contact with and would begin feeding off sugars in the pulp of the fruit, producing alcohol and carbon dioxide.
But in modern times, most wine producers inoculate their juice with commercially isolated yeast mixtures. Analagous to the Fleischmann’s yeasts used by home bakers, these carefully selected fungal populations perform more reliably and predictably, minimizing the risk of, say, a stalled fermentation, which can spoil a wine’s quality. These fast-acting lab yeasts also come in various formulations that can enhance the desired flavour or aromatic profiles. For example, there are yeasts that contribute more of a pineapple note to a chardonnay and some that can amplify the natural passionfruit note in a sauvignon blanc. Increasingly, however, craftoriented producers have been turning to the old ways with “native” or “wild”
Food Pairings: Pork tenderloin with teriyaki vinaigrette salad, chicken pad thai, or Sole Almondine
or “indigenous” yeasts. (I should add that many producers have always relied on the natural method without ever advertising the fact.) Proponents, and I’m among them, argue that wild yeasts can often result in a more complex or nuanced flavour profile, much in the way wild-fermented sourdough bread compares to a plain sandwich loaf, sometimes even helping to contribute the “minerally” note that is so prized today by wine aficionados. At the very least, the use of native yeasts generally indicates that the wine maker cares enough to take risks in order to produce a wine that is arguably more locally authentic or idiosyncratic. Yeast, too, is part of terroir.
Body: Medium | Sweetness: Dry | Oak: Unoaked Varietals: Pinot Grigio, Sauvignon Blanc, Muscat
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October 2018 (TBA) @ 6:30PM - 9:30PM
We are happy to announce our 5th exclusive food and wine pairing event back by popular demand! It’s an RSVP event only - contact Tina in store for more details.
Grease 40th Anniversary Screening Saturday,
Can I use an old fridge for wine storage if I keep the temperature at the warmest setting? BEPPI CROSARIOL SEPTEMBER 28, 2018
Not in my opinion, but one could argue there was justification in the past for drawing that general conclusion. In a dry table wine, alcohol correlates to the degree of natural fruit sugar present in grapes prior to fermentation.
That’s because, during fermentation, yeast convert sugar into alcohol and carbon dioxide. Generally speaking, the riper the grapes the better the wine. This perception is reflected in many European appellation laws, where certain wines can be accorded more lofty status if they exceed a specified alcohol percentage. For example,
a wine labelled “Chianti Classico” must contain at least 12 per cent alcohol versus the more generic designation “Chianti,” which can qualify with just 11.5 per cent. A “Chianti Classico Riserva,” which tends to be even more expensive and esteemed, must have a minimum of 12.5 per-cent alcohol. But this sort of thinking has to a great extent become passé. Most producers of fine wine today, regardless of appellation laws, tend to pick their grapes much later in the season and employ creative pruning techniques to ensure riper (if fewer) grape clusters. They’re after quality
rather than quantity, because there’s more profit, or at least glory, in high-end wine. As a result, alcohol levels have been rising everywhere.
some grapes naturally produce more alcohol – grenache and viognier, for example. It’s a matter of genetics rather than quality.
Besides, the wine world is more diverse than it used to be back when France and northern Italy dominated much of our wine consciousness. Many growing regions naturally yield more sugar and higher alcohol. Vines that bask in the constant, fruit-ripening sunshine of Napa Valley or Australia’s Barossa Valley, for example, will almost always yield higheroctane fruit than those in, say, Ontario, Germany or France’s Loire Valley. Also,
If anything, the alcoholequals-quality mantra today has come full circle. Many producers are seeking to dial down the potency of their wines while still delivering ripe flavours in a more elegant style. They’re doing so in various ways, including with smarter pruning, by planting on cooler sites and even, more questionably, by artificially removing alcohol after fermentation.
October
13,
2018
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6:00
PM
Celebrating 40 years of one of the world’s most iconic movies ever made! Relive the 60’s and sing/groove along to the musical adventure that has been loved by people all over the world and put smiles on critics since 1978!
Let’s Join The GO-TO Club!
The premier social club for all wine loving patrons! Take a day trip on a private coach to visit all of Niagara’s vineayards, or enlighten yourself with learning a new language, or host your own private events in store! Contact Tina for more information! - GET READY FOR CHRISTMAS Order Ahead So You Don’t Wait For Christmas! Christmas is just around the corner, thats just less than 12 weeks away! Order now so you don’t have to wait to enjoy your craft wine! Also don’t forget, they make great gifts and stocking stuffers! Don’t be that person without a gift this holiday season! Check for in-store promotions!
Custom Wine Label & Gift Wrapping
Available in store, Talk To Tina Today For Info! Looking to get that perfect label on bottled wine to perhaps mark a special event or occassion? Perhaps even a label made especially for the recipient? We can also help with putting the perfect touch on the finishing bits such as the gift wrapping and maybe even a box of chocolates? Yes, we have partnered with Lindt! Contact Tina for more information!
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