Pat Bayly Square

underground work will commence on the highly anticipated Pat Bayly Square — a multi-faceted gathering space in the heart of downtown Ajax. This landmark project is an integral component of the new $300-million urban Vision development at the southwest corner of Bayly Street and Harwood Avenue.

The first of its kind in the Region of Durham, the public square, named after the first mayor of Ajax, will serve as an educational venue and also provide amenities for daily users, community functions and cultural activities year round.

The square will feature a prominent skating rink/reflective pool, an array of water fountains, cultural artwork, multi-functional spaces for public gatherings, a multi-purpose stage, seating areas, landscaping and a civic building. The contemporary design of the square will reflect the surrounding architecture and have a strong unified look.

The square will play homage to the Town’s history with a special monument to honour the thousands of women who worked at Defence Industry Limited during the Second World War, and a unique pavement design reminiscent of the coding pattern on a key stream tape found in a Rockex machine, a Pat Bayly innovation.

The development of Pat Bayly Square is key to the creation of a meaningful destination point in our downtown that will have lasting social and economic development benefits. Similar to Nathan Phillips Square and Yonge-Dundas Square, Pat Bayly Square is set to become one of the prime community and tourist attractions in the region.

The first Vision residential tower is expected to be complete by 2016 and will consist of 25 storeys, 272 residential units, two floors of office space, and ground-level commercial. Work will immediately follow on the second tower and Pat Bayly Square, which is expected to be completed in 2018.

Lately I have seen many properties with RENTED furnaces, the hot water tank is a norm around here, but not the the furnace. Buyers normally dislike the rented furnace because it means that they are not getting what most other properties have included. I have heard that the contracts of very expensive and difficult to get out of. So think twice before renting a Furnace for you property, it might cost you much more than what you thought when selling.

57 Tansley Crescent, in the Hamlet Community of Ajax. Beautifully upgraded home close to golf courses, parks, trails, schools and shopping.

19 Darley Street in the Town of Ajax in the Hamlet of Pickering Village

64 Westray Cres Ajax Listed by Cristian Vergara Realtor with Sutton Grou...

63 Dooley Cres Ajax Ontario listed for Sale by Cristian Vergara

2018 Market Update

Hi Everyone,

I have been getting lots of questions on how the current real estate market is doing and what some of the predictions are for this year. I have been to 3 economic meetings so far this year, and I wanted to just give people some insight.

Everyone this year was scared that with the new STRESS test being introduced in January would cause a major downturn in the real estate market.  I am happy to state that it did not.

It seems that people are still getting qualified, and purchasing close to what they had hoped for.  The changes that have taken place since last year, is that more people of purchasing with bigger downpayments, and the first time home buyer segment of the market is not as big as before.

The basic statements from these meetings was that:

Ø The condo market is be very hot, and prices are rising quickly

Ø Rental Rates will continue to rise

Ø The worst case scenario, of the market would be 3-5 % increase in prices over the end of last year.

Ø Interest rates will rise, but very slowly, not as fast as first predicted.

Ø Most people can easily with stand a 2 % increase in rates

Ø Last year still ended up being one of the busiest years in the Toronto Real Estate History with overall increase from 2016 and some of the top volume in sales

Ø This year’s volume,  will be less than the last few years.

Some of the current statistics from TREB are:

Ø Properties are taking an average of 25 Days to sell

Ø Properties are getting 99% of the list price

Ø We have 2.1 months of inventory on the market

Ø 50% of the houses are selling per month

Ø Overall market, Toronto is once again doing the best, followed by Durham Region and then Halton Region, no one is in double digit increases yet.

Ø The Condo market, especially downtown Toronto is in double digit increases, seeing multiple offers, bully offers, and condos selling over list.

Now what my team and I have seen, lately, face to face, while selling in a number of different Toronto GTA markets, is:

Ø People still qualifying to purchase a home

Ø An incredible Condo market in the Downtown Core

Ø All areas selling at different paces, yet all going up.

Ø Multiple offers in East Durham Region

Ø And homes selling higher than they were in January.

It is great time to make that move, call me if you are thinking of buying, selling or investing this year.

Cristian Vergara,  

Your AMIGO in Real Estate

https://youtu.be/-0oqBPY9iuA