N o v e m b e r I s s u e
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D e c e m b e r V o l u m e
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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 november - December 2018 volume 05 issue 12 OCTOBER REAL ESTATE INDEX
GTA DETACH AVG PRICES (2018 • $ 807,340 | 2017 • $ 780,400 | +3.45%) SALES (2018 • 7,492 | 2017 • 7,069 | +5.98%) 1 YR MORTGAGE (2018 • 3.64% | 2017 • 3.24% | +12.35%)
04 ................... Toronto’s Home Sales Climb In October and New Listings Fall, Tightening Market 05 ................... October 2018 GTA REALTORS® Release Monthly Resale Housing Figures 06 ................... Tougher Mortgage Rules Fuel Private Lending Surge In Toronto 07 ................... CA2018 This Coming Saturday, November 24, 2018! 08-09 ................... 2018 Fall-Winter - November-December TanTeam Listings 10 ................... Why We Love - and Hate - The World’s Top White Grape 11 ................... What is Carbonic Maceration in Winemaking? 11 ................... 26 New Grape Varieties Identified In Bío Bío, Chile
Opportunities don't happen. You create them
-Chris Grosser
Toronto’s Home Sales Climb In October and New Listings Fall, Tightening Market TORONTO HOME SALES CLIMBED IN OCTOBER AS NEW LISTINGS FELL, PUSHING PRICES HIGHER AND SIGNALLING THE CITY'S REAL ESTATE MARKET IS TIGHTENING.
JANET MCFARLAND NOVEMBER 5TH, 2018
The Toronto Real Estate Board said 7,492 homes sold in the Greater Toronto Area last month, a 6 per cent increase over October last year. The average sale price for all types of homes climbed 3.5 per cent on a year-over-year basis to $807, 340, TREB said. The price gains came as the number of homes newly listed for sale fell 2.7 per cent in October compared to a year ago, which means market conditions tightened somewhat last month. “Annual sales growth has outstripped annual growth in new listings for the
last five months, underpinning the fact that listings supply remains an issue in the Greater Toronto Area,” Jason Mercer, TREB’s director of market analysis, said in a statement. The number of homes sold in the GTA has been climbing on a year-over-year basis since the late spring. TREB said tougher mortgage qualification rules and rising interest rates may have kept sales below 2016’s record pace, but many people in the region are still keen to buy. “A strong regional economy and steady population growth will continue to support the demand for housing ownership as we move into 2019,” TREB president Garry Bhaura said.
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Sales of detached homes improved in October after lagging in the second half of 2017 and early 2018. TREB said the number of detached houses sold in the GTA in October climbed 7.1 per cent compared to last year, but the average price grew just 1 per cent to $1,019,416. The volume of detached home sales
climbed 10.1 per cent in the City of Toronto and 6 per cent in the suburban 905 region surrounding Toronto. While the detached home market is showing signs of slow improvement, the less expensive housing categories are continuing to drive most of the price increase in the GTA. The average sale price for condominiums, for example, climbed 7.5 per cent to $562,523 in October compared to a year ago. Semi-detached home prices rose 6.6 per cent to an average of $816,657 in October, while townhouse prices were up 4.1 per cent to an average of $655,777.
October 2018 GTA REALTORS® Release Monthly Resale Housing Figures TORONTO REAL ESTATE BOARD NOVEMBER 05, 2018 Toronto Real Estate Board President Garry Bhaura announced year-over-year increases in home sales and average sale prices reported through TREB's MLS® System in October 2018.
spring. While the OSFI stress test and higher borrowing costs have kept sales below 2016's record pace, many households in the Greater Toronto Area remain upbeat on home ownership as a quality long-term investment. A strong regional economy and steady population growth will continue to support the demand for housing ownership as we move into 2019," said Mr. Bhaura.
Greater Toronto Area REALTORS® reported 7,492 sales through TREB's MLS® System in October 2018 – a six per cent increase compared to October 2017. On a preliminary seasonally adjusted basis, sales were down by one per cent compared to September 2018.
There were 14,431 new Listings entered into TREB's MLS® System in October 2018 – down 2.7 per cent compared to October 2017. The fact that sales were up and new listings were down year-over-year in October suggests that market conditions became tighter.
The average sale price for October 2018 was up 3.5 per cent on a year-over-year basis to $807,340. After preliminary seasonal adjustment, the average selling price was up one per cent compared to September 2018. The MLS® Home Price Index (HPI) Composite Benchmark was up by 2.6 per cent compared to October 2017. Price growth continued to be driven be the condominium apartment and higher density low-rise market segments. "Annual sales growth has been positive since the late
"Annual sales growth has outstripped annual growth in new listings for the last five months, underpinning the fact that listings supply remains an issue in the Greater Toronto Area. With municipal elections in the rear view mirror, all levels of government need to concentrate on policies that could remove impediments to a better-supplied housing market, including facilitating the development of a broader array of medium density housing choices," said Jason Mercer, TREB's Director of Market Analysis.
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Tougher Mortgage Rules Fuel Private
Lending Surge In Toronto NATALIE WONG BLOOMBERG NEWS SEPTEMBER 6, 2018
Higher interest rates and tougher lending standards are driving a surge in private lending to homeowners in the Toronto area. Twenty per cent of refinancing for mortgage deals in the second quarter were funded by private lenders, a 67 per cent jump from the first quarter of 2016, according to a report this week by Toronto brokerage Realosophy and property data provider Teranet.
Purchasing homes and paying off mortgages are getting harder in Canada’s biggest city due to a
combination of rising interest rates, higher home prices and tougher standards to qualify for a mortgage. The new rules require borrowers to prove they can make payments at higher rates and apply to new mortgages as well as refinancings or transfers to a new bank. The changes are a boost to private lenders, which are willing to take on riskier financing arrangements than traditional lenders. In turn, they charge higher interest rates, the report said. The share of mortgages financed by private lenders has increased from a low of 12 per cent in 2016 to 20 per cent in the second quarter of 2018.
Most of these lenders are mortgage brokers who have set up mortgage investment corporations to raise money for lending, John Pasalis, president of Realosophy said in an email. Total private mortgage volume jumped to $1.5 billion in the second quarter, from $920 million in the first quarter of 2016, the report said. Almost half of private lending activity during that period was on detached homes that were refinanced; the next highest segment was for condo refinancing. Generation Xers, or people in their 30s and 40s, were the largest group of
consumers turning to private lenders, accounting for 42 per cent of all transactions, according to the report. A portion of this increase may be driven by owners who prefer to do major renovations to existing homes rather than moving to a bigger house, the report said. Private lenders are often more willing than banks to provide construction financing.
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Why We Love - and Hate - The World’s Top White Grape BEPPI CROSARIOL SEPTEMBER 28, 2018
Do you have a favourite white grape? I’d love to declare that mine is one of those hipster-friendly oddities rescued from the brink of extinction. Something obscure and hard to pronounce from, say, the Canary Islands, Croatia or Moldova. (Feteasca regala, anyone?) Alas, it’s not. It’s chardonnay, the world’s most popular white, the Taylor Swift of wine. But not just any chardonnay. Like most self-respecting devotees of that grape, I consider the benchmark to be white Burgundy. As in the tightly wound, briny beauties of Chablis and the broader-shouldered but still kinetic luxuries of Puligny-Montrachet, even a more affordable PouillyFuissé or Rully. Care to guess my least-favourite white grape? Chardonnay. In the wrong hands, chardonnay is the best argument I can think of to drink beer. Many
examples represent most of what’s wrong with wine today: flabby, overoaked and overmanipulated or underripe and confected. Worst of all, they can be stunningly overpriced. You could level similar grievances against many other varieties, but I’d argue chardonnay is uniquely vulnerable to such crimes. Flavour-wise, it’s pretty neutral, taking much of its shape in the winery with varying degrees of oak contact (hello, vanilla) and the optional softening process of malolactic fermentation (butter, anyone?). Riesling and sauvignon blanc, by contrast, come with much less playbook latitude; once you’ve harvested good grapes, it’s largely a matter of crush, ferment and bottle. Yes, there are white varieties with less to recommend them, per se, than chardonnay. Trebbiano, for example? But they generally come
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with an all-important virtue: the humility of affordability. Clumsy, cloying, badly made chardonnays from California, meanwhile, can drain a bank account faster than a Nigerian e-mail scam. It’s nuts. Increasingly, I’ve been enthused by the fountain of delectable chardonnays pouring out of British Columbia. Producers there seem to be finding their stride in applying oak judiciously, more so than too many of their lumber-loving counterparts in California. Take that as a gross generalization, if you will, as well as the opinion of someone raised on a broader stylistic range of chardonnay than the average drinker in the United States, where California wine still represents almost three out of every four bottles sold. Not that I don’t appreciate great California chardonnay, of which there is plenty. Besides British Columbia, Ontario shares a cool-climate profile that keeps chardonnay’s acids high and permits the early-ripening grape to hang longer on the vine to develop deep and complex flavours. When you’re graced with juice like that, you see it as your job to try hard not to mask it with cloying oak.
What is Carbonic Maceration in Winemaking? BEPPI CROSARIOL OCTOBER 18, 2018
It’s a special fermentation technique practised most commonly in the French region of Beaujolais, where it helps enhance fruitiness and softens tannins in red wines designed to be consumed young. Standard fermentation requires grapes to be crushed so that the sugars in the juice come in contact with yeast on the skins and in the air, producing alcohol and carbon dioxide. The alcohol remains in the
finished wine while the carbon dioxide is permitted to escape in gaseous form from the tank. In the case of carbonic maceration, berries are left intact and placed in a sealed vat. Carbon dioxide is then pumped into the vat, causing fermentation to take place inside the cells of each intact grape. Because the tannin-bearing skins don’t steep in the juice during this period, there’s less astringency in the finished wine. Other reactions associated with the process also contribute different sorts of flavours than those
under conventional skincontact fermentation. The most noteworthy pioneer of carbonic maceration was Jules Chauvet, a Beaujolais winemaker and chemist who is also considered the father of the natural-wine movement. And without him, it’s unlikely Beaujolais nouveau would have been the global phenomenon it became. Which, depending on your perspective, could be a good or a bad thing. w carafe meadowvale EVENTS
Exclusive Food & Wine Pairing Event January 2018 (TBA) @ 6:30PM - 9:30PM
We are happy to announce another exclusive food and wine pairing event backed by popular demand! It’s an RSVP event only - contact Tina in store for more details.
Just in time for the holidays, our decadent Cru Speciality seasonal releases are available for a limited time only - Reserve yours today!
In-store TV Throwback Series Classic Screening (From 60's-70's) -
January, 2018 (TBA) @ 6:30PM - 9:30PM
26 New Grape Varieties Identified In Bío Bío
Remembering some of the worlds most memorable classic TV series like "I Dream of Jeannie" (1965-1970) to "Mind Your Language" (1977-1986) and much more! We'll provide the popcorn, you just need to come! For more information, contact Tina!
A research project into old vines in southern Chile has identified 26 new varieties, previously unknown in the world, and over 60 ‘uncommon’ varieties growing in Bío Bío. AMANDA BARNES OCTOBER 25, 2018
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vineyards of unknown varieties next year.
The project has been spearheaded by Viñas Inéditas-Terroir Sonoro winemaker Juan José Ledesma who has been researching the hundreds of unidentified vines in Southern Chile, Bío Bío since 2011. Over the last year, in collaboration with FIA and DNA-analysis by INEA, over 120 varieties have been identified growing in Bío Bío, 26 of which are not recorded anywhere else in the world. “Most of the varieties have been planted in at least three different vineyards, which means they have been intentionally chosen as wine grape varieties rather than just being a local mutation,” explains Ledesma, who plans to make wines from these small
In the 2018 vintage Viñas Ineditas already vinified several of the ‘uncommon’ varieties, including Moscatel Negra, Isabella and San Francisco which will be released next year. Other grape varieties discovered include Palomino Fino, Hondarrabi Beltza, Mollar and Iona. Making wines from these exotic varieties is part of the current research phase, however Ledesma hopes the discovery will have a much greater impact on the industry. “We’ve found varieties that are naturally well adapted to climate change and different soil salinities, and have probably survived over 300 years as dryfarmed varieties in Bío Bío,”
Ledesma told Decanter.com. “We believe the genetic diversity found here is a base for sustainable viticulture for the future.” Following the identification of the varieties, for which they used SSR molecular markers analysis, work with local growers (who are protected under a confidentiality agreement) will continue in
order to preserve the varieties, investigate their history further and assess their application for the future. Ledesma believes this may only be the tip of the iceberg. “Bío Bío is immense and has been growing vines for almost 500 years, there’s much more for us to discover. It is a Tower of Babel on the shores of Bío Bío!”
- GET READY FOR CHRISTMAS Order Ahead So You Don’t Wait For Christmas! Christmas is just around the corner! 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!
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