Palace Place, 1 Palace Pier Court, Suite 3407 – Just Sold in 3-days!
(Represented Seller and Buyer)
In these times of market uncertainty, it takes experience to get the deal done.
Luke Dalinda has almost 3-decades of encyclopedic knowledge in selling at Palace Place. Let him be your guide.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Palace Place, 1 Palace Pier Court, Suite 3501 – Just Sold for $2,650,000 (Buyer and Seller Representative)
In a world dominated by media doom and gloom over the state of the condo market, Luke Dalinda continues to demonstrate that he has the contacts, market insight, and experience to get the deal done. So, when condos take longer to sell, Luke Dalinda will not sit idle like most. Instead, he will go out and find the buyers himself. This is why he continues to be the #1 Top Selling Realtor at Palace Place and in Humber Bay Shores.
Call, text, or email me today to learn exactly what I bring to the table to help you to achieve the best price possible.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Today, the Bank of Canada has announced its second consecutive policy rate drop to 4.5%.
Condo buyers, who have remained on the sidelines for all of 2024, should take great comfort from this announcement, as it cements the path to lower rates.
Because of what we call “herd mentality”, it typically takes 1.5 weeks for the buyer market to react to rate announcements. This news bodes very well for Palace Place going forward, and it demonstrates that the time to buy is now as prices should increase as activity increases.
Best rates that we have seen so far:
5 year fixed at 4.69%
The next scheduled date for announcing the overnight rate target is September 4, 2024.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Due to the ongoing work to the Gardiner Expressway, the Palace Place and Palace Pier Private Shuttle Service schedule has been updated to reflect that change in traffic patterns.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Palace Place, 1 Palace Pier Court, Suite 3302 – Just Sold for $1,020,000 (Represented Seller)
In these times of market uncertainty, it takes experience to get the deal done.
Luke Dalinda has over 27-years of experience selling at Palace Place. Let him be your guide.
Be sure that you SUBSCRIBE to this blog to be the first to know of new listingseven before they hit MLS! Stay tuned. The Subscribe link is to the left of this post.
Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
While this drop is minor, it more importantly signals an end to the high rate uncertainty that had been experienced since the Bank of Canada began raising rates in March 2022. Buyers should take great comfort in this announcement.
This news bodes very well for Palace Place going forward and demonstrates that the time to buy is now as prices should increase as activity increases.
UPDATE:
In response, the banks have already followed with 5-year mortgage rates as low as 4.89%.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
The Toronto real estate market in 2024 has proven most challenging for key segments, such as homes in the $2M to $4M range and condos above the $1M mark. Many buyers have been waiting for reduced mortgage rates that for the market are well overdue now.
In their April 10 decision not to lower rates, the Bank of Canada had stated, “We are seeing what we need to see, but we need to see it for longer”.
This decision put a freeze on the spring real estate market, which is traditionally the busiest time of the year.
It has long been forecast that the first rate reduction would only be a drop of 0.25%. Many have argued that such a drop would be insignificant.
However, it is not about the amount of the rate drop but the signalling of the end of this high rate uncertainty.
That is what is needed to start the cycle of buying again in many slow markets, like condos.
What will happen on June 5?
In a May 30 report by The Globe and Mail, a poll had shown that 75% of some of the top economists have predicted a June 5 cut in the key interest rate by 25 basis points to 4.75%. Here is a link to that report.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
From Ph.D. Design and Kingsway Village Custom Homes comes 43 Kingsway Crescent, a brand new, European-inspired 3-storey, 7,101 total square foot, 4+1-bedroom, 7-bath trophy luxury residence that offers an enchanting backyard, with an award winning salt water Solda Pool, with waterfalls, nestled over the Humber River and its parklands on a massive 74 x 213 foot ravine lot in prestigious Kingsway. Impeccable design, the finest aesthetics, and its Beaux Arts detailing are hallmarks of this masterpiece residence.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
With the release of the new Palace Place Budget, Crossbridge Condominium Services, which now manages over 800 condos in Ontario, has taken the time to comment on the success at Palace Place.
“Any one of the projects that Palace Place has undertaken in the last year, any corporation would be proud to say they were successful in that, but when you start stacking all of these projects that you’ve undertaken over the past year on top of each other it is, I think, certainly from my seat looking at over 800 condominium corporations, it’s unprecedented.
And I’ll say that again, it’s unprecedented. The leadership that you have, the community that supports you is, by far, I think one of the most engaged and one of the most successful that I’ve seen from where I sit, and I wanted to share that with everyone and I wanted to congratulate the board, the staff, and certainly the management team that we’ve put in place there on so many successes. It is, again I use that word and I don’t use it very often, unprecedented.”
Crossbridge Condominium Services Ltd., the biggest property management firm in Canada, with a portfolio of now over 800 condos.
I am really proud of this because my team and I work exceptionally hard to ensure that Palace Place remains the best managed condominium residence in Ontario.
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
Palace Place, 1 Palace Pier Court, Suite 1505 – $3,950 per month
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Palace Place, 1 Palace Pier Court, and Palace Pier, 2045 Lake Shore Boulevard West, in Humber Bay Shores.
