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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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table of
CONTENTS February - march 2019 volume 06 issue 01 JANUARY REAL ESTATE INDEX
GTA DETACH AVG PRICES (2019 • $748,328 | 2018 • $735,874 | +1.69%) SALES (2019 • 4,009 | 2018 • 3,987 | -0.05%) 1 YR MORTGAGE (2019 • 3.64% | 2018 • 3.34% | +8.98%)
04 ................... First-Time Toronto Real Estate Buyers To Use “Current Home” To Fund Down Payments 05 ................... January 2019 GTA REALTORS® Release Monthly Resale Housing Figures 06 ................... Toronto Real Estate Board urges OSFI to 'revisit' stress tests 07 ................... Unaffordable Housing Is Hurting Canada's Job Market 08-09 ................... 2019 February-March Winter TanTeam Listings 10 ................... The Best Italian Red Wines for Beginners 10 ................... Does Champagne Keep Its Fizz Longer If You Dangle A Spoon Inside The Neck Of An Open bottle? 11 ................... What is Orange Wine?
There is nothing permanent except change
-Heraclitus
First-Time Toronto Real Estate Buyers To Use “Current Home” To Fund Down Payments EVERYONE KNOWS THE EASIEST WAY FOR A FIRST-TIME BUYER TO BUY A HOME, IS TO ALREADY OWN A HOME. THE TORONTO REAL ESTATE BOARD (TREB) PUBLISHED RESULTS FROM ITS ANNUAL BUYER SURVEY
STEPHEN PUNWASI FEBRUARY 08, 2019
Everyone knows the easiest way for a first-time buyer to buy a home, is to already own a home. The Toronto Real Estate Board (TREB) published results from its annual buyer survey. The survey asks recent and intending buyers about their experience, and gives the industry insights into their behavior. Most of it was not all that surprising, except for the sources of down payment. Turns out, 1 in 10 dollars used for down payments from first-time buyers will come from equity in their current home. Uh… what? First-Time Buyer Down Payments First-time buyers are using a variety of down payment tools, all similar to existing homeowner. Survey respondents said 35% of down payment funds will come from savings outside of their RRSP. The second largest single source will be savings from within their RRSPs. That was followed by 17% of
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funds coming from gifts from generous family and friends. The last identifiable source is 10% from equity in their “current home.” The remaining 20% is a mystery meat assortment, categorized as “other.”
an interest only payment plan. More important, there’s less equity in a firsttime buyer’s house than previously thought. It doesn’t exactly reflect the prudential lending environment narrative told.
First-Time Buyers Have Home Equity? Let’s ignore the mystery meat, gloss over generous friends, and jump into “equity from current home.” One in ten dollars used for a first-time buyer’s down payments is from equity in their current home? That’s weird because first-time buyers don’t have their own home to draw equity from. This implies they’ll be using equity from family or friends, or it’s not their first home.
Not Actually First-Time Buyers? The second most likely scenario is lying about being a first-time buyer. There’s a few reasons people do this, but most likely is to get first-time homeowner credit. Buying and flipping in a child or friend’s name, and claiming it’s their
Borrowing a down payment from friends and family isn’t against the rules, it’s just not very smart. Heck, some mortgage brokers even suggest it, while casually mentioning interest only sources of loans. The first problem is home equity is usually borrowed at a higher interest rate than mortgages. That can add up, especially if you’re on
primary home is common. If they aren’t caught, they save a few bucks. Only problem is a whole lot of people actually do get caught. The Canada Revenue Agency (CRA) has begun cracking down on real estate tax evasion. From April 2015 to September 2016, the agency recovered over $210 million in Ontario alone. Those funds came from people lying about sources, flipping, capital gains, HST, and improper declaration of rebates… like the first-time buyer credit. It’s common to lie about real estate to save some taxes, but it’s expensive and not very smart. When the incentive to buy real estate is high, people take risks that aren’t necessarily logical. Sometimes those risks pay off, and sometimes they don’t. Either way, a very small number of people are making risky moves in this market. The question risk experts need to ask is how much longer can people continue to take these risks.
January 2019 GTA REALTORS® Release Monthly Resale Housing Figures TORONTO REAL ESTATE BOARD FEBRUARY 6, 2019
TREB President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 4,009 home sales through TREB's MLS® in January 2019 – up by 0.6 per cent compared to January 2018. On a preliminary seasonally adjusted basis, sales were up by 3.4 per cent compared to December 2018. "It is encouraging to see the slight increase in January transactions on
a year-overyear basis, even with the inclement weather experienced in the GTA region during the last week of the month. The fact that the number of transactions edged upwards is in line with TREB's forecast for higher sales in calendar year 2019," said Mr. Bhaura. The MLS® HPI Composite Benchmark price was up by 2.7 per cent compared to January 2018. The condominium apartment market segment continued to lead the way in terms of price growth.
The average selling price was up by 1.7 per cent on a year-over-year basis. After preliminary seasonal adjustment, the average selling price edged lower compared to December 2018. "Market conditions in January, as represented by the relationship between sales and listings, continued to support moderate year-over-year price increases, regardless of the price measure considered. Given housing affordability concerns in the GTA,
especially as it relates to mortgage qualification standards, we have seen tighter market conditions and stronger price growth associated with higher density low-rise home types and condominium apartments, which have lower average selling prices compared to single detached homes," said Jason Mercer, TREB's Director of Market Analysis and Service Channels.
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Toronto Real Estate Board
urges OSFI to 'revisit' stress tests NOAH ZIVITZ BNN BLOOMBERG FEBRUARY 06, 2019
The head of Toronto's real estate board is calling on the country's top banking regulator to "revisit" the mortgage stress test rules that took effect last year.
whether or not today’s home buyers are being stress tested against rates that are realistic," he added.
“Even though we’re seeing positive government action on a number of key housing files, one area that needs to be revisited is the imposition of the OSFI-mandated two-percentage-point mortgage stress test," TREB CEO John DiMichele said in a release Wednesday.
The real estate industry was set on its heels in late 2017 when the Office of the Superintendent of Financial Institutions confirmed it was going ahead with its so-called B-20 guidelines, which included a tough new stress test for uninsured mortgages. The intent was to ensure homebuyers who put down at least 20 per cent could cover their payments at the Bank of Canada's fiveyear benchmark rate or two per cent above their actual mortgage rate.
"While we saw buyers return to the market in the second half of 2018, we have to have an honest discussion on
Amid recent criticism about the impact of those stress test rules, a top OSFI official defended B-20 as a safeguard
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for the economy during a speech in Toronto on Tuesday. "The stress test is, quite simply, a safety buffer that ensures a borrower doesn’t stretch their borrowing capacity to its maximum, leaving no room to absorb unforeseen events," OSFI Assistant Superintendent Carolyn Rogers said. "This is simply prudent. It’s prudent for the bank and it’s prudent for the borrower too." Despite Rogers' defence of B-20, TREB's CEO urged policymakers on Wednesday to consider the economic implications of the rules. "Home sales in the GTA, and Canada more broadly, play a huge role in economic growth, job creation and
government revenues every year. Looking through this lens, policymakers need to be aware of unintended consequences the stress test could have on the housing market and broader economy." The Toronto Real Estate Board also released new forecasts on Wednesday, calling for sales across the country's largest housing market to reach 83,000 this year from 77,375 in 2018. Meanwhile, the average selling price is expected to hit $820,000 compared to 2018's average of $787,195.
CONTACT THE TANTEAM IF YOU HAVE ANY QUESTIONS ABOUT THE REAL ESTATE MARKET! 905-821-3200 • SUPPORT@TANTEAM.COM
Unaffordable Housing Is Hurting Canada's Job Market
A LACK OF AFFORDABLE HOUSING IS HOLDING BACK WORKER MOBILITY, THE BANK OF CANADA SAYS.
JOSH SHERMAN HUFFINGTON POST FEBRUARY 08, 2019
A top-ranking official with Canada's central bank suggests high housing costs are holding the country's labour market back. Bank of Canada senior deputy governor Carolyn A. Wilkins says investing in employees through training and education, for example, is one way to boost the labour market — but it isn't the only approach needed. The availability of affordable housing plays an important part, too. "What is less prominent in discussions on how to improve the job market is supporting worker mobility —this would help businesses attract the right people for the job," reads the official text of a speech Wilkins delivered before the Toronto Region Board of Trade late last month. "Affordable housing is front and centre. It is to a large extent an issue of supply," Wilkins continues. In major employment centres such as Toronto and Vancouver, housing costs have soared out of reach for many Canadians.
According to a recent RBC Economics study, a typical Toronto household would have to save 102 months for a down payment on an average home. In Vancouver, the path to a down payment is even more daunting: a median-earning household would require 340 months — that's 28 years — for a 20-percent down payment. Beyond addressing these dire affordability issues, more open trade between the provinces would also boost employment, Wilkins says. Another issue for the job market is transportation infrastructure in the country's major job markets. Experts have long noted how improved transit can ease housing affordability woes as it allows workers to live farther from employment centres, easing at least some demand for more centrally located housing. When in 2017 the then-Liberal government of Ontario announced it was moving ahead with plans for high-speed rail connecting Toronto and Windsor, one economist noted it would improve housing affordability once complete.
transit to areas beyond the very supply constrained area within the Green Belt, then it would take some pressure off for sure," BMO senior economist Robert Kavcic said in an interview at the time. While the Canadian Press reported this past November that the environmental assessment for the rail project was ongoing, the Progressive Conservative government did say it was mulling alternatives. While employment statistics have been under the microscope lately as both the housing market and energy sector — two of Canada's main economic drivers — are struggling, Wilkins says "the labour market in Canada is in good shape." The senior deputy governor highlights the fact that net Canadian employment gains numbered 163,000 jobs last year, and the unemployment rate was 5.6 percent, "a historic low." 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 •
HAND MADE CRAFT WINE FOR ALL OF LIFE’S SPECIAL MOMENTS AND OCASSIONS • UNBEATABLE VALENTINE’S SPECIAL ON SELECT 2 SWEET WINES @ 10 BOTTLES FOR $79.99 WITH FREE GIFTS UNTIL FEB-15!
The Best Italian Red Wines for Beginners STACY SLINKARD
WINE FOLLY
With estimates of between 500 and 600 grape varieties grown in Italy, it’s tricky to distill this iconic wine-soaked peninsula into basic baby sips. If you start at the Italian boot and drill down, you’ll find a land of incredible wine growing diversity. From the Alps in the north to the Apennine mountain range, functioning as Italy’s backbone running north to south, and the Mediterranean Sea cheerfully surrounding the country with its
buffering influence on weather patterns, Italy is a grape grower’s dream. Italy’s best red wines for beginners tend to share three common characteristics: 1) they are bold in flavor intensity 2) they lean heavily into familiar fruit flavors and aromas 3) they can typically be found for under $20 a bottle We’ve rounded up a short starter guide of Italian wines you must try – top to bottom, and east to west. Nero d’Avola - If Italy is the boot, Sicily is the soccer ball about to be launched. Sitting on the tip of Italy’s toe, Sicily is the largest of the Mediterranean islands. As Sicily’s rockstar red grape, Nero d’Avola’s fruity nature brings plenty of bright red cherry, tart blackberry, and peppery spice to the glass. A heady combination of fruit meets structure, showing zippy acidity and moderate alcohol levels. Nero
d’Avola promises to mellow out with a bit of time in the glass (or decanter) and partner up incredibly well with juicy bison burgers, Mom’s lasagna, or your local meat lover’s pizza. Easy to drink, and even easier on the wallet – expect to shell out $10-20 for a bottle of snappy Sicilian adventure. Montepulciano - Montepulciano reigns as the second most planted grape in Italy (after Chianti’s Sangiovese). In terms of label lingo, typically the wines based on the Montepulciano grape tag the regional name on the end of the grape (i.e. “Montepulciano d’Abruzzo” – is literally the Montepulciano grape from the region of Abruzzo). Smooth, silky textures surround dense layers of black fruit flavor. Expect this wine to run completely dry with a medium- to full-bodied profile and plenty of palate pep to handle grilled game, Italy’s best salumi, regional pastas with tomato sauce, and local cheese finds. You can enter the Montepulciano scene with as little as $8. That said, we recommend turning it up a quality notch for around $20 bottle – promising more body, complexity, and more overall balance. Negroamaro - Negroamaro is grown in the hotter climes of Puglia, on the heel of Italy’s proverbial boot. A tannic beast, Negroamaro can come off as rich or rustic, smooth or sassy, depending on the vintage, proximity to the Ionian Sea’s cooling effects and, in all honesty, the winemaker’s prowess.
Often blended with Primitivo to tone down the tannins and amp up the sweet red fruit factor, Negroamaro promises to play well with all sorts of zesty barbecue digs: pulled pork, sweet chicken, tangy Texas ribs, and more.
and red wine pairings sommeliers recommend). Flavors include red fruits, candied flowers, and cream. Expect to pay close to $20 for Brachetto – after all, fun and festive comes at a price.
Primitivo - Primitivo (aka Zinfandel) is also grown in Puglia often as a complementary blending force to tame the tightly wound tannins of Negroamaro.
Dolcetto - Cleverly translated as “little sweet one,” though don’t expect gobs of sweetness to welcome your taste buds. Dolcetto is usually dry, with blueberry and cherry fruit-driven notes.
However, Primitivo is one of Italy’s lush and plush red wine divas sought as a solo bottling for its generous fruit and sultry spice along with elevated alcohol, and the instantly approachable tandem of low acidity and modest tannins give it a bold, but smooth mouthfeel.
This is an easy sipper, happily ready to roll right out of the bottle, and shows soft fruit character with a little less zippy acidity upfront. Not overly picky, when it comes to food pairing, Dolcetto is a flexible friend to antipasto plates, cured Italian meats, and plenty of red-sauced pasta themes.
A natural with cured meat, tangy grilled veggies, brats or burgers, Primitivo is a flavor force to be reckoned with. Expect to part with 15-25 bucks for a full-throttle bottle of Puglia Primitivo. Brachetto - Playing to the sweettooth, Brachetto is Piedmont’s light-bodied, sweet, and fizzy semi-sparkling dessert wine. Brachetto grown anywhere in Piedmont is labeled simply as “Brachetto” on the bottle, while Brachetto d’Acqui, a classified DOCG, carries the classic Old World naming protocol: “Brachetto” is the grape and “Acqui” is the hilly growing district in southern Piedmont. This particular style of bubbly begs for dessert partnerships, with all things chocolate high on the love list (it’s one of the few chocolate
Barbera - Barbera is Piedmont’s everyday wine that’s perfectly poised to rock the red fruit flavors sans the mouth-drying tannins. While the ruby red color pigments are dark and dense, the actual palate profile is light and bright with the consistent lively background zing of food-friendly acidity. Barbera comes loaded with ripe cherry, blackberry, and earthy herbal tones to dominate the nose and ready to rumble on the palate as well. Given the silky textures, soaring acids, and laid-back tannins, consider partnering Barbera up with sausage risotto, prosciutto and smoked cheese, beef stew, and the classic Napolitano pizza. No need to pay a lot to snag a tasty bottle of Barbera – many run under $15. You’re welcome.
CUSTOMER’s CHOICE
TOP PICK Of
FEBRUARY ORCHARD BREEZIN' CRANBERRY CRAZE $144 - READY IN 4-6 WEEKS YIELDS 30 X 750ML BOTTLES
This sweet Breezer style wine opens with flavors of fresh cranberries and red berries. On its own or mixed with soda water to make it a spritzer, this wine cooler is the perfect backyard refresher. Fun Fact: During the growing season cranberry beds are not flooded, but our every gated regularly to maintain soil moisture. beds are flooded in the Autumn to facilitate harvest and again during the winter to protect against low temperatures Body: Light | Sweetness: Sweet | Oak: None
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Does Champagne Keep Its Fizz Longer If You Dangle A Spoon Inside The Neck Of An Open bottle? BEPPI CROSARIOL DECEMBER 13, 2018 GLOBE AND MAIL
Ah, you’ve drummed up the Energizer Bunny of wine myths; this one never gets tired. Short answer: no. Spoons do not preserve bubbles, not for you, not for me, not for Uri Geller. Especially popular in Europe, where a silver, rather than stainless steel, spoon is often recommended, the technique involves inserting the handle into the neck of a half-finished bottle, with the spoon’s wide bowl of course preventing the utensil from falling in.
I believe last time I addressed the claim was six years ago, when I cited an experiment by Stanford University chemistry professor Richard Zare and food-science writer Harold McGee. For me, that work pretty much laid the myth to rest. The following year, Scientific American also weighed in on the topic, citing not only the Zare-McGee research but also a test by the Comité Interprofessionnel du Vin de Champagne (CIVC), the trade association of Champagne producers in France. With plenty of local bubbles at its disposal to perform an authoritative debunking, the
CIVC found no difference, fizz-wise, between spooned and unspooned bottles that had been left open.
Did you hear the story about
If you want your sparkle to stay bright, store the wine in the fridge, even assuming you can’t reseal it. Lower temperatures help keep carbon dioxide dissolved longer as a liquid versus letting it escape as a gas. Or you can do as I do and plug the top before placing the bottle in the fridge – with a proper Champagne stopper.
posted a video on Instagram
But I won’t sign off without bringing you fully up to date in spoon-and-sparkle news.
Madonna that made the wine-publication
rounds?
The
recently
pop
icon
in which she’s up late in the studio “eating” what appears to be Champagne by repeatedly dipping a tablespoon into her wine glass. Her own caption for the video: “Soup du Jour … #midnightsnack.” And that’s why she gets to be Madonna and we don’t.
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Fine Wine & Paint Night Thur-Feb-21st-2019 @ 6:00PM Sat-Mar-23rd-2019 @ 5:00PM
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Valentine’s In Around The Corner! Special Promotional Offer To Sweet To Pass Up Until February 15th, 2019 - Choose between 2 of our luscious sweet wines and receive 2 wine glasses, 1 stainless steel wine opener and Valentine themed labels for only $79.99! No limit, restrictions apply, see store for more details!
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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What is Orange Wine?
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Orange wine is a bit of a misnomer. It is not wine made with oranges, nor is it a Mimosa cocktail (a blend of 1 part orange juice to 2 parts sparkling wine.) Orange wine is something entirely different. MADELINE PUCKETTE WINE FOLLY
Orange wine is a type of white wine made by leaving the grape skins and seeds in contact with the juice, creating a deep orange-hued finished product. To make an orange wine, you first take white grapes, mash them up, and then put them in a large vessel (often cement or ceramic). Then, you typically leave the fermenting grapes alone for four days to sometimes over a year with the skins and seeds still attached. Orange winemaking is a very natural process that uses little to no additives, sometimes not even yeast. Because of all this, they taste very different from regular white wines and have a sour taste and nuttiness from oxidation. Let’s thank Simon Woolf over at Decanter, who found out that the term “Orange Wine” was coined by
British wine importer David Harvey at Raeburn Fine Wine . He used it to describe this non-interventionist style of white winemaking. You may also hear the term “Ramato,” which means “auburn,” in Italian and typically refers to Italian Pinot Grigio made in an orange wine style. Orange wines have been described as robust and bold, with honeyed aromas of jackfruit (a fleshy tropical fruit), hazelnut, brazil nut, bruised apple, wood varnish, linseed oil, juniper, sourdough, and dried orange rind. On the palate, they’re big, dry, and even have tannin like a red wine with a sourness similar to fruit beer. Often they’re so intense that you might want to make sure you’re sitting down when you taste your first orange wine.
Because of their boldness, orange wines pair excellently well with equally bold foods, including curry dishes, Moroccan cuisine, Ethiopian cuisine (like those spongelike pancakes called Injera), Korean dishes with fermented kimchi (bibim bap), and traditional Japanese cuisine, and fermented soybeans (Natto). Due to the high phenolic content (tannin and bitterness) and the nutty tartness they exhibit, orange wines pair with a wide variety of meats,
ranging from beef to fish. The process of making orange wine is very old, but the reinvigoration of this ancient process has only resurfaced in the last 20 odd years. Many modernday orange winemakers look as far back as 5000 years in Caucasus (modern-day Georgia,–not the state) where wines were fermented in large subterranean vessels called Qvevri (“Kev-ree”) that were originally closed with stones and sealed with beeswax.
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