The Walton Report

Ups and Downs

2011-09-28T07:05:00.000-07:00

Hello! It's been a while since my last post. Not too much has changed since my June posting. The latest report on the Toronto real estate market is very positive considering the European and US economic crisis. Luckily Canada, in general, has separated itself from these countries/unions with its own set of criteria for economic growth, spending and restrictions. Yes, there's been some downturn in the economy, but the real estate market continues to thrive. Low interest rates keep home buying affordable. The downside is that there hasn't been as many homes on the market in 2011 as in past years, creating some inflated pricing (homes which tend to sit without being sold) or the opposite, bidding wars on well-priced, structurally sound and well designed homes. This latest report from the President of the Toronto Real Estate Board reflects the current market conditions.
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'The Bank of Canada is expected to be on the sidelines until the second half of 2012 or even into 2013. However, home ownership affordability in the City of Toronto could be further improved with the removal of the City’s land transfer tax. This tax currently represents a substantial upfront cost for home buyers.

With market conditions remaining tight in the GTA, the average selling price continued to grow strongly in August – up by more than 10 per cent year-over-year to $451,663.
We remain on pace for the second best year on record for sales. Approximately 90,000 transactions are expected by the end of December," said TREB's Senior Manager of Market Analysis Jason Mercer.
Major home ownership costs, including the average monthly mortgage payment, remain affordable despite the strong price growth experienced so far this year.'

This report is positive and hopeful for the remainder of 2011. The downside is, with Toronto's recent woes re: service cuts and deficits, it's unlikely we will see the Land Transfer Tax abolished.

Strongest May Ever!

2011-06-12T19:11:00.000-07:00

The Toronto Real Estate Market reported only a 2% decrease in sales over last year at this time. Many would be suprised to read this statistic as 2010 was touted a ‘boom’ Spring Market. Selling prices have grown at a faster rate over the last few months of 2011 compared to 2010. This isn’t surprising given that the number of available homes for sale versus interested buyers is again, creating a seller’s marketplace.

Another reason for the strong sales reported this month is a reflection of a positive outlook on the economy of the GTA and the stable low interest rates. Many were doubtful what with a Federal election scheduled in the middle of the real estate market’s strongest season, but the outcome has only spurred activity. With growing earnings and the numbers of jobs increasing it makes sense that households remain confident in their ability to purchase and pay for a home over the long term.

The Bank of Canada is widely expected to leave its key benchmark interest rate unchanged next Tuesday — and may even sit on the sidelines until September, economists say. That’s good news for consumers who will continue to enjoy record low interest rates on mortgages and other borrowing. Even if the central bank leaves it’s overnight rate unchanged at 1 per cent next week, it’s likely that interest rates will be going up. Just when that is, is unknown. Late last year, and even at the beginning of 2011, economists were certain that the Bank of Canada would start increasing its overnight rate this spring. That was pushed to the summer amid continuing worries about the health of the U.S. economy. Now more economists are expecting that the central bank will take a pass at its July policy meeting as well, and begin raising rates in the fall.

2011-04-05T13:03:00.001-07:00

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Strength in Numbers

2011-03-20T10:52:00.000-07:00

Who knew? Even after the introduction of the new mortgage rules last Friday (see last blog for full details) homes are still attacting situations the likes of these 2 guys to the left. Many homes, priced well, not really below market value, as has been the strategy in the past, are garnering more than one, two or even 3+ interested parties! That to say, the Toronto real estate market is not following the predicted trend of slowing down. This was the general assumption that was anticipated after stricter rules were implemented last week. It's early days, but clearly the proof is in the pudding. In the last ten days alone, over 40 homes were sold in the Leslieville/Beach/East York area, half over the asking price, many of those $30K+ over the listed price. There is strength in numbers! Much of this we can put this down to a couple of factors; location, condition and price of the home. So, if you're interested in selling and want the best result, make sure your home is in tip top shape, sound and priced well. You're sure to get the attention of more than one interested buyer. And buyers, don't despair! Yes, bidding wars occur, but this is why this market is termed a 'goldilocks' market. It's not TOO hot and not TOO cold - it's just right. Meaning that while homes can sell quickly and over asking price, there are also many nice homes, well priced that are selling for asking or just under. No pressure there. So enjoy the coming months in either your search or sale of a new home. Everyone is bound to be happy with their result.

The Heat is On

2011-03-02T20:55:00.000-08:00

Well, officially Spring is almost here, although you wouldn't know it outside. It's a brisk -18C as I write this.

With winter so far being a steady diet of warm, cold, warmer, colder, our Toronto Real Estate Market is riding the same path it seems.

Typcially, early January is a very quiet time indeed for real estate activity, but it was soon followed by a bit of a surge in sales late into the month. Early February was again a little quieter, and it appears now, as I write (March 2nd) the Spring Market has definitely Sprung. While this is a little atypical so early in March, the Federal Finance Minister, Jim Flaherty's mortgage changes for 2011 have seen a surge in listings and hungry buyers out to purchase a home before the new rules come into affect March 18, 2011. Which are:

1. The maximum amortization period for a government-insured mortgage was lowered from 35 to 30 years.

2. The upper limit that Canadians can borrow against their home equity was lowered from 90 per cent to 85 per cent.
3. Government insurance backing on home equity lines of credit, or HELOCs, has been removed.
While these rules make sense and force Canadians to tighten their belts a bit, it does mean higher mortgage payments over a shorter amortization period (approx $96/mth more) and that's enough to get buyers out in the cold to shop.

However, the confidence in our economy seems to be bourgeoning and it's unlikely the market will come to a standstill after March 18th.
It looks like a healthy, steady market is here to stay; for a while at least. There is no plan to increase the low interest rates we've been enjoying, just yet
so if you're a seller or a buyer, this could be a fruitful time for you. Enjoy the experience and (the soon to come we hope) warmer weather!

Spring has Sprung! Brrrrr

2011-01-31T07:54:00.000-08:00

While most of us consider the Spring real estate market to coincide with bulbs blooming and crocuses popping their heads out, it should really be renamed the Winter Market. Once Christmas credit card bills and the indulgence of holiday time comes to an end, so does the resting brain. Every year buyers get a second wind around mid January and like to start their search for a new home. It's a great time for sellers to put their homes up for sale as traditionally there isn't much 'product' (ie; homes) on the market. With a burgeoning group of buyers this can lead to disappointment and not much variety. Having said that, each year more and more sellers are seeing this trend and 2011 is one of the better winter markets that continues to grow. By 'Spring' there will be more competition (ie; more homes for sale) and buyers will have more options. So, here's a tip. Don't worry that your garden isn't in full bloom for prospective buyers in February/early March. Pull out some pictures from last year's garden party and put them together in a binder for potential buyers to see just how lovely the garden WILL look when the thaw arrives. Because once the weather warms up, homes will be popping up like tulips and you may have more competition for a buyer.

For buyers, your time is 2011. As predicted late in 2010, come Spring, the market trend is predicted to be more stable and without the huge discrepancy in terms of supply/demand seen in the last 6-7 years. So, it looks like a win/win for sellers and buyers in 2011. The government has curbed its lending strategies, but for those who were able to afford a home prior to this new legislation, they will probably still be able to now. After all, you don't want to be buying a home when you only have the bare minimum eligibility anyway. It's risky and when buying a home, you want to feel safe and 'sound'.

Jingle Bells, Houses Sell

2010-12-19T08:36:00.000-08:00

Happy Holidays! It's been too long since I blogged last - October I see. Well, things have changed quite a bit since then. The shock of the HST has warn off, then the landslide win of underdog (?) Rob Ford took our breath away for awhile, and now....we are in the midst of holiday time. This has not stopped homes from being sold or bought in this traditionally slow season. However, this year has seen some changes of heart. While the summer/fall season was slow, confidence in the market re-established itself late in October and continues to stay steady. This is great news of course, despite the resurgence of grumblings by the Bank of Canada and its publication of Canadian household debtloads. Yes, we all carry debt - too much perhaps - but the low interest rates keep us confident that we can afford what we take on. The warning bells are real and we need to heed them as rates, the likes of which we may not see again, are going to climb - eventually. However, home prices are staying on the higher end price-wise, which can cancel out the term 'buyer's market' even as the interest rates are low. So be careful, and don't consume too much this holiday season! Instead, save for that new home in 2011. It'll be worth every saved penny to put towards a new home. In the meantime, enjoy time together with friends, family and share the gift of togetherness. It's free!

Competition Bureau vs Toronto Real Estate Board

2010-10-05T13:34:00.001-07:00

Note: These are the personal thoughts of a respected colleague whose October newsletter has summed up this issue perfectly. I am sharing them with you to inform you about the pending case of the Toronto Real Estate Board and the Competition Bureau.

At the end of the month (Oct 29th) the Canadian Real Estate Association will be voting to resolve a battle with the Competition Bureau. The big question that everyone wants to know is how this will change the landscape of Real Estate in Canada.The answer is not very much…there have always been options for sellers whether it has been to sell privately, or to list with REALTORS® or Brokers who provide a multitude of services. I think that a lot of Sellers who would have previously chosen the “private for Sale” option will now be placing their properties on the MLS system with brokerage models who only offer that option.The misconceptions are out there: some consumers think that full service companies will now be forced to list properties on the MLS with little or no service or a schedule of services. This is not the case. It is up to the Owner/Broker to decide what offerings they will make as part of their business model.The BIGGEST misconception is that the Seller is the one paying the commission…think about the transaction. It is the Seller who writes the cheque but the price of the house is paid by the Buyer and the commission is deducted from that price. The Seller wrongly thinks that they are benefiting, but the benefit really goes to the Buyer….it is the Buyer who gets the lesser price to be paid and the Seller may be disadvantaged by not having a full marketing program.As a REALTOR®, I see myself as a marketer and negotiator providing services for a fee. If some Sellers feel that they can manage that part on their own, then I wish them all the best. It has taken years to develop a successful marketing plan. Good REALTORS® make it look easy, we act as a buffer and try to keep a very difficult process as calm as possible.Like any service well done it has lead consumers to think that the process is easy. Some consumers see the transaction as the only time we work; They don’t see the hours of preparing the house for sale, research to get the proper asking price, months of showings with buyers to educate them, licensing, ongoing education and insurance; one of our biggest jobs these days is to make sure that Bona Fide clients are exposed to the property and that clients do not lose proper perspective when negotiating.Unrepresentated Sellers would be well advised to hire a lawyer and use their services. However they should be prepared that Lawyers charge whether the Property sells or not whereas REALTORS® fees, for the most part, are charged on a successful completion of the transaction.There will be some confusion for a while as Sellers, REALTORS® and Buyers get used to some of these changes and some behaviours will have to change. Buyer Representation which involves a service contract between the Buyer and their agent, will become more and more important as it solidifies the fiduciary duty of the agent to the Buyer.Good agents will continue to offer many services to their sellers and Buyers. At the end of the day, competition allows great service providers to shine and this discussion is all about service.

Lazy Daze of Summer

2010-08-23T09:15:00.000-07:00

Who would have thought that in three short months the booming Toronto real estate market would change so dramatically? It wasn't really a shock, but the HST put fear into the hearts and minds of buyers and sellers. And justly. While there was no dramatic financial concerns dealing with resale homes (no HST on a resale home purchase) the commissions and other services that come with a transaction had yet, another tax. At the same time as the introduction of the HST came a slight crackdown by the banks on mortgage qualification and the dissolution of 0% down for home buyers. Clearly, these are deterrents and the market has shown that. While sales are still constant, prices remain as they did in the earlier part of 2010 slowing the number of sales by roughly 30+% from the same time last year. On a positive note, interest rates remain low and for buyers, this is an opportunity to get into the real estate market sans bidding wars and stressful competition from 7 or 8 buyers for one property. With a 5% down payment (minimum) and a good credit rating and steady income, you are a good candidate for buying a home a good price. Without bidding wars and competition the process can be a more relaxing and thought out one. Sellers can expect to have their homes on the market a little longer than the traditional 'week' when the market is driven by supply and demand, but if you price well and your home shows its value you will be a satisfied seller. Let's hope the market wakes up this fall (traditionally a busier time than summer) and that both buyers and sellers find that perfect match! Until then, enjoy the rest of summer and have a great Labour Day weekend. Stay tuned for more updates in September.

Has Spring Sprung?

2010-05-11T06:17:00.000-07:00

I'm looking out the window sitting next to my cozy fireplace and can't believe it's May 11th.
While the weather is not cooperating much with its seasonal forebears, the real estate market seems to be acting out in its usual way this time of year. For buyers, this is bringing some much needed relief. Up until a few weeks ago, buyers were left out in the cold (literally and figuratively) throughout this very hot sellers market of the last 6 months.
What is causing this you may ask. In my opinion, a number of things. Traditionally sellers like to list their home in the Spring. It shows the home in its colourful (and usually warmer) habitat and after a good 'Spring Clean' homes do show their best. Equal attribution must go to the impending HST which will come into affect July 1, 2010. While the increases in the costs to both buyers and sellers will not be huge, it is yet, another cost from the taxman and I know when buying a home every dollar counts. And there is that little thing we call 'interest rates'. Yes, they are going up - not by much mind you, but an increase is an increase.
So, fair to say that the recent spate in the multitude of listings and the presence of many buyers are these combined factors. I would also say with confidence that the market is healthy. There is no sign of a 'bubble about to burst' or any other such rumour. The situation in Greece is not helping with the fluctuations in currency, but the dollar is hovering where it always has - just below the greenback.
So, have no fear! This is a great time to sell and buy and perhaps for the first time in several years we can say that this is indeed how the market should be. Not an advantage for either side (buyer or seller) but a healthy market which is 'just right'...where the price of a home is not averaging $60K over the asking price or $40K under the asking but selling at or near the posted and realistic value. So here's hoping this trend continues into the summer and keeps the market on a steady and confident road.

It's the Year of the Tiger

2010-01-07T16:47:00.000-08:00

Happy New Year! In Chinese astrology, 2010 is the year of the tiger, signifying 'good fortune'. With all the economic doom and gloom of 2009, we could all use some good fortune. Here's to a year of prosperity, safety and happiness! We were told the recession was over in late 2009, but we will have to contend with yet another new tax (HST) in July. This will create an unknown in terms of the Toronto Real Estate Market. The Toronto Real Estate Board was against such a tax but it was passed by our government and so we will have to live around it. Because of that, it looks like the early quarter of 2010 may see a lot of activity in both resale and new homes (as they will be the hardest hit with the Harmonized Sales Tax). Like the introduction of the Toronto Land Transfer Tax in 2007, any new tax sees a peak in real estate buyer activity. Buyers and Sellers want to avoid having to pay any additional taxes for services rendered so it's likely we will see a flurry of activity in this period. As well, the interest rates remain very attractive. A bonus for Buyers. Hopefully we will see more homes listed in this early part of 2010. If not, low supply and high demand may see the continuation of the 'Seller's Market' for the next few months. Food for thought for anyone thinking of selling! Speaking of food, I hope you enjoyed a festive holiday season and I'll see you at the gym!
Until Spring...

Toronto Real Estate Market Sept/October

2009-10-25T07:23:00.000-07:00

I could pretty much cut and paste my entry for July/August! Nothing has changed. In fact, the market is hotting up even more if that's possible. The condo market has seen a big rise in buyer interest and multiple offers and over asking prices abound. For houses, we expect it in a hot market, but not SO much for condos. This is a great time for sellers, a little tougher for buyers. While there is a lot of product on the market, the buyers still exceed the supply.
So...if you're thinking of selling, the time is nigh.
No one can predict how long this boom will continue, but as long as interest rates are low and Premier McGuinty still plans to implement the HST taxes in April, 2010 then there is probably no end to the busy market.

July/August 2009 Market Report

2009-08-29T03:25:00.000-07:00

Well, who would've thought? July 2009 was a record setting month for sales in the GTA. In less than 1 year, the market has completely bounced back from one of the worst recessions it's seen to the best summer month in history.
This was due largely in part to the interest rates and rumours of a recovering economy. Overall though, this is a sign of consumer confidence, which rules all markets. For Sellers, you are currently in the hotseat as there is a huge demand for properties and limited homes on the market. Bidding wars abound and many homes are fetching $50-$100K over the asking price! Don't despair Buyers! Come fall (a few weeks from now) you will see more and more properties on the market in what is traditionally a peak period for homes being listed in the GTA.
Things will soon balance out and we we can again see happy Sellers and Buyers participating in a great Toronto Real Estate year.

Toronto Real Estate Market June/July

2009-07-14T07:53:00.000-07:00

Some said we would not see another '2007' for a long while. They were wrong! June and July of this year has been astounding for real estate sales in the GTA. Both homes and condos have exceeded sales and prices since last year and part of 2007. Despite the government outlook on our economy (gloomy) nothing seems to be stopping buyers from buying - and some paying top dollar (over asking) and entering bidding wars once again. Some people are puzzled and say 'If our economic outlook is so bleak, why the real estate frenzy?'. It's a good question. The current interest rates have a lot to do with booming sales. Today you can get a mortgage for under 3% and a 5 year fixed for just over 4%. It's incredible. Even though we've seen low interest rates in the past few years, these are definitely the lowest. On top of this, some people feel that with their past investments losing up to 45% of their growth on paper, they want something to invest in that's 'tangible'; bricks and mortar, a piece of land, a home. Other aspects helping the bourgeoning market is that in the latter part of last year (when sales came to a standstill) buyers were scared. They were uncertain of where they stood in their workplace. Would they be let go? Was their company downsizing? Would they be retired? Now, those buyers know and are more secure in their job futures. So these are a few answers to the rise in sales. Mainly, buyer confidence is back. And ultimately when the public has confidence, the economy improves.
Hopefully you'll be next!

The 'Darker' Side of Real Estate

2009-05-29T21:39:00.000-07:00

Real Estate Market - Hot or Not?

2009-05-29T08:27:00.000-07:00

The month of May has seen a surge in real estate activity in the GTA. People are asking me on a daily basis 'What's happening? It doesn't FEEL like we are in a recession.' People are buying; homes and condos are selling fast and many of them over the asking price in a short period of time. Despite the gloomy economic forecast by every media outlet and newscast, there is a rational explanation.
For the first time in history, the interest rates for borrowing are at a record low.
Also, many people who feared the looming crisis back in October/November and into the new year may feel a sense of relief in terms of their job security now and when people feel a sense of security it manifests as confidence. Public confidence plays a huge role in any market, and right now it is showing in the real estate market.
So to answer my own question, yes, the market it HOT! How long it will stay that way is anyone's guess but as the old adage goes...strike while the iron is hot. This is especially true for Sellers right now.

Make Your Home 'Appeal' ing

2009-05-29T07:20:00.000-07:00

Creating curb appeal!
They say you can’t judge a book by its cover. But when it comes to houses, the exterior can be just as important as the interior if selling or buying.
When selling, it is the outside, or the home’s curb appeal that often determines whether the inside is ever seen. How a house 'shows’ from the street can tell a potential buyer a lot about what it may be like inside. Even if the inside is the sparkling, charming, structurally sound dream home they’ve been searching for, a buyer is not going to forget a cracked driveway, fallen shutters, overgrown grass and flower beds.
That’s why most REALTORS recommend a house not be seen for the first time at night. If you have no choice but to view homes at night, always be sure to drive past them during the daytime before making any final decisions.
For sellers, there are many ways to enhance the exterior of a home to achieve the curb appeal necessary to attract prospective buyers. Start by taking a close, objective look at your home from the curb. Be sure to view it from different angles. Ask friends and neighbors for their unbiased opinions. What are the appealing features? What’s not so appealing? What can you do to improve its appearance?
Are the shrubs untrimmed? Are there broken doors and windows, loose screens and railings? Does the exterior trim, or entire surface, need a paint job?
The interior may be clean, without a leaky faucet, cracked floor or loose door hinge in sight. But if the exterior roof, gutter, walls, driveway, garage and yard look dirty and untidy, chances are you’re not going to get a lot of potential buyers knocking at the door.
Creating curb appeal is making your home inviting from the outside -- where first impressions begin. This doesn’t mean spending a great deal of money remodeling and renovating. Adding a new front verandah might add a lot of curb appeal, but so will a couple of wicker chairs and potted flowers by the front door - at a lot less cost.
Here are some more tips for making the outside of your home attractive and inviting:
Clean up the yard Mow the lawn, trim the hedges, weed the flower beds, get rid of dead trees and shrubs; get rid of any broken lawn furniture; shovel the walk and driveway in winter; rake the yard in the fall.
Repair any problems If the roof is damaged, repair it. Also repair any doors and windows that have loose hinges or other damage; fix storm doors and window screens; caulk window exteriors; clean and repair sidings and other structural flaws.
Eliminate clutter If you have yard and construction debris piled up along the side of the house, or elsewhere, get rid of it. The exterior of your home should be as uncluttered in appearance as the interior. This includes cleaning out the garage - a major breeder of clutter. Be ruthless. If you haven’t used something in a year, give it to charity or recycle it.
Give siding a fresh new look Cleaning the exterior surface is all your home may need for a fresh new face. Before rushing to paint siding, try washing it. For painted wood siding and aluminum siding, use a solution of one cup strong detergent and one quart chlorine bleach in three gallons of water. Be sure to wear rubber gloves, goggles and other protective garments. Work from the bottom up and rinse thoroughly.
To spruce up vinyl siding, hose it down, sponge it with a mild liquid detergent and rinse.
Use paint to brighten, re-proportion exterior A paint job can do wonders for the exterior of a home. A low house can look more graceful and tall from the curb by emphasizing its vertical features. Paint elements such as doors, shutters and corner trim in a color that contrasts with the siding material or color. On a high home, emphasize horizontal by using a contrasting paint color on window sills and fascia boards. You can also make a tall house look lower by painting it a dark color, provided that the roof is dark too. Conversely, a light color will make a home look larger.
Co-ordinate the exterior 'look’ The more co-ordinated your house looks from the outside, the more appealing it will be. Co-ordinate the 'look’ of your home by painting the garage, tool shed, playhouse and other outdoor structures with the same color schemes as the house. If your house is a mixture of conflicting textures - vertical siding, shingles and brick, for instance - try painting them all the same color, or in two related shades of the same color, to create a harmonious look. Dark tones work best when working with conflicting textures.
Use flower power Well-placed flowers, trees and shrubs can really make the outside of a home look inviting. Not only does attractive landscaping invite buyers, it can increase the value of a home. Even without major landscaping, flowers can make a yard look colorful and pleasant. Plant them in garden beds, hang them from railings and porch ceilings, add flower boxes to window sills. There is no limit to the power of flowers.
At night, highlight garden features with spotlights and floodlights. Well-lit paths and entrances promote safety, discourage burglars and are an added feature to any home. A pretty wreath on the door and a welcome mat will finish things off.

Thinking of hosting a Yard Sale? Some tips...

2009-05-29T06:45:00.000-07:00

If your annual spring cleaning ritual has produced a mountain of unused and unwanted items, you may want to think twice before you simply toss them out. How about a yard sale to turn some of that “junk” into someone else’s “treasure?”

Each weekend in spring and summer you’ll find yard sales popping up in neighbourhoods everywhere. And, where there are yard sales, there are yard sale “junkies.” For many people, scouring yard sales for a bargain on a Saturday morning is an art.

First, settle on a date and time for your sale. Weekends are virtually universal for yard sales, and most run from 8 or 9 a.m. until 4 or 5 p.m. You'll also need to set a rain date, usually the next day if your sale is on a Saturday, or the following weekend if your date is Sunday. Most sellers advertise by posting signs on lamp posts and hydro poles.

Running out of change is also a problem that plagues many sales.

Think like a yard sale buyer
The ability to deliver the kind of goods and service that buyers want is perhaps the most important factor in the success of your sale.

There are a number of items that are always in high demand: art, antiques (even distressed pieces), furniture, appliances, electronic equipment, tools, and lately, computer games and accessories. If you have goods in any of these categories, mention them in your flyer or ad.

Surprisingly, many veteran yard salers are not interested in old clothing. Unless you've got something special to offer, you can expect to turn much of your old wardrobe over to charity.

As to pricing your goods, nothing turns away a potential buyer more than a price that is too high. You can always expect haggling, but most won't even bother if you price an old lamp at $20, when similar items can be had for $5.

Don't clutter up your yard, and make sure your items are separated by category.

A friendly face and a free cup of java can do wonders.

Finally, the success of a yard sale is measured by the amount of additional space you have in your house after the yard sale is over, and the amount of money you make. Now you may be tempted to run out and purchase more items that will likely end up in your next yard sale. But, why not celebrate your success by spending the money on dinner at a nice restaurant for the family and whoever helped at the sale. Source: OREA

Top Reasons to Move to Leslieville

2009-05-29T06:34:00.000-07:00

Leslieville, once a little known east end suburb of Toronto, is now one of the most sought after stretches of east Toronto to live in. In the past 8 or so years, Leslieville has seen dramatic changes in its retail business, the type of homeowners and residents its attracting and its popularity.
Why? Not only is the area close to Toronto Beaches (Ashbridges Bay, Kew Beach, Woodbine Park) it is very close to the downtown core and all the major highways to/from the City - the Gardiner Expwy, The DVP and the Lakeshore. Every week a new and exciting shop seems to open up on this ecectic strip of Queen St. East between Pape and Greenwood Avenues.
In just a few years, stores like Lowe's Farms Organic Foods, the Leslieville Cheese Shoppe, Nathalie Roze & Co. (clothing), The Curzon (bar), The Roy(pub), The Purple Purl (wool shop), Any Direct Flight (clothing), The Red Rocket (coffee bar), & The Film Buff (movie rentals) have sprung up - just to name a few. Not to mention numerous small and successful restaurants, butchers, vintage shops and baby supply stores. There's even a website devoted to residents of the 'hood called The Leslieviller.
The community's recent protest against a Walmart in the area shows the people of Toronto and this small community that local goods and independent shopkeepers are making a comeback.
The only 'corporatization' of Leslieville is one Starbucks at the corner of Logan/Queen St. Despite that, it hasn't seemed to take any business from the smaller, successful coffee parlours in the neighbourhood like The Mercury Bar or Tango Palace. There is something for everyone is Leslieville.