Montreal Real Estate Blog » Condo

Video Blog, Episode Four: BANK Project in Old Montreal

Deya Bautista — Thu, 22 Dec 2011 12:34:08 +0000

This is something I have been looking forward to shooting since the summer time, when I was first told about the development!
I present to you a video tour of one of the hottest projects in Old Montreal at this moment.

BANK Condo Project offers us 43 units of high-end design, a graceful mix of the historic and the modern.
I had a small interview with Mickael Chaput, Real Estate Broker with McGill Immobilier and he gives us the insights of the projects architecture, features, sizes and prices.

Here is the video…

http://www.youtube.com/watch?v=05R7mYeglo8

{Special thanks to Mickael Chaput for giving us the tour and to Patrice Groleaux for the video editing job. Merci!}

If you’re not able to view it from your inbox, here is the permalink.

More information on this project, visit McGill Immobilier website.

Posted By: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 http://montrealrealestateblog.com/

Market Update: September Condo Sales Stayed Strong

Deya Bautista — Mon, 24 Oct 2011 11:35:27 +0000

The Greater Montreal Real Estate Board (GMREB) released the latest numbers, comparing last’s years market performance and price increases to this year’s.
September 2011 had 1% more sales than September last year. Condos had 8% more sales, but the single family homes and plexes were down in sales.

They also mentioned that sales were down on the North and South Shore respectively. With all the traffic and problems with infrastructure happening, it was expected to hear the south shore isn’t doing so well in sales.

But back to the main topic, and as it has been for the past few months. The condo market it’s still on the lead:

“Once again, the increase in sales in the Montréal Metropolitan Area can be attributed to the performance of condominiums. Sales of condominiums were particularly vibrant in Laval (+40 per cent) and on the Island of Montréal (+10 per cent).

Now, let’s talk prices….

The median prices have increased (of course) and here are the numbers:

Single Family homes: $266,750 – 6% more than last year.
Condos: $220,000 – an increase of 2%
Plexes; $400,000 – a 6% increase.

Now, if you see the condo’s increase it is only by 2%- price wise, but the sales were up for a lot more than that.

Looking to sell your condo? Contact me for a free appraisal!

Click here to view the complete article from GMREB

Comment savoir si un condominium a une bonne situation financière?

Deya Bautista — Wed, 08 Jul 2009 12:00:34 +0000

Le bien être financier d’un syndicat de condominium est très important. Acheter un condo dans un condominium, dont le syndicat de copropriété n’a pas les fonds nécéssaires pour fonctionner et payer les frais courants, est un risque majeur.

Des frais de condo peu élevés peuvent rendre un achat plus attractif, mais ils peuvent aussi être signe que le syndicat de copropriété n’est pas prêt pour des travaux urgents ou d’éventuels travaux de rénovation. Donc une fois installé vous vous exposez à des augmentations des charges au fur et à mesure du vieillissement du bâtiment.

Heureusement il y a moyen de connaître les états financiers du syndicat de copropriété. Les syndicats sont obligés de conserver les budgets annuels qui sont alloués à l’entretien de l’immeuble ainsi que les états financiers. Le plus important est de savoir quel est le montant de la réserve du fonds de prévoyance.

Le Fonds de Prévoyance

Le but d’un fonds de prévoyance est d’avoir suffisamment d’argent (réparations majeures et rénovations) pour toute le durée de vie de l’immeuble. Le fonds s’assure essentiellement de la maintenance des parties communes de l’immeuble pendant toute l’existence du condominium.
La somme requise pour le fonds de prévoyance dépend de la condition et de l’espérance de vie de toutes les parties communes et le coût estimé pour l’entretien et les réparations pour les années à venir.
Le montant que chaque propriétaire d’unité contribue au fonds de réserve, habituellement par virement mensuel, est déterminé par l’estimation faite de ce qu’il faudra prévoir mensuellement pour couvrir les coûts à long terme.

Les fonds de réserve sont mis à jour régulièrement, dépendant des règlements provinciaux et des besoins du syndicat des copropriétaires. Des études sont conduites par des professionnels capables de déterminés les conditions des parties communes de l’immeuble. Ils estiment la durée moyenne de vie des éléments et le coût des réparations et/ou remplacements de ceux-ci. Basés sur leurs observations, ces professionnels estiment la contribution mensuelle ou annuelle nécessaire pour provisionner à long terme les rénovations des parties communes. Après avoir reçu ces études, le conseil d’administration propose un plan de durabilité du fonds de prévoyance, incluant la contribution mensuelle des propriétaires pour les frais de condo.

Déménager dans un nouveau foyer où le fonds de prévoyance est insuffisant et où il est nécessaire de faire des réparations urgentes, signifie une augmentation des frais de condos et des estimations spéciales prévues par le syndicat des copropriétaires. Le fonds de réserves spéciales peut-être élevé dépendamment des travaux requis. Assurez-vous d’obtenir les renseignements nécessaires et les statuts pour déterminer l’état du fonds de réserve.

Sources: CMHC

New addition: Open House Tour March 29-2009

Deya Bautista — Sat, 28 Mar 2009 18:16:58 +0000

I just got word from Leonard Rosen that this lovely condo will also have a visite libre tomorrow (Sunday Mar29,2009). So instead of re-writing the already published article, we’re making a new entry with more information. You can find the complete listing by click the details link.

Côte-des-Neiges

6111 Av. du Boisé, apt. 5L
$475,000
02:00 pm to 04:00 pm
Sutton | Details

The scoop: Le Sanctuaire du Mont Royal, Phase IV. Superb condo with large balcony , interior access to Sporting Club( with a membership) and Mediclub, 24 hour security, semi-private elevator, 2 garage spaces and locker. 1,460 sqft!!

Weekend Open House Tour: March 29-2009

Deya Bautista — Sat, 28 Mar 2009 13:30:22 +0000

Our first post from the new section: Weekend Open House Tour, features the best presented properties available to visit in the selected areas of Montreal. We’ve decided to include only three at a time for each category- in this case; Condos and Single Family Homes. While we are not too picky about the price (as everything is negotiable in real estate), the properties are chosen based on presentation (first impressions): images, layout and interior design.
For further info, a link to the detailed listing is included; you can find the specs, more images, the exact location and the broker’s contact info.

Condos

Note: the two projects listed below have information spaces. In the case of M9 and Benny, they are also open during the week from 2pm to 7pm. So if you miss the weekend visit, you can always go back during the week. And..Square Benny has now a BEAUTIFUL condo-model, finished and furnished.


Old Montreal M9 Evolution (Project) 90 Rue Prince From $239,000 + Sat & Sun. 12:00 to 5:00 pm McGill immobilier \| Details	NDG Square Benny (Project) 4100 Av. Benny From $138,900 + Sat & Sun. 12:00 to 5:00 pm McGill immobilier \| Details	Le Sud Ouest 01223 Rue Charlevoix, apt. 104 $164,500 + GST/QST 01:00 pm to 04:00 pm Sutton \| Details

Houses

Something we noticed at the last minute: all the houses listed below have 3 bedrooms. Interesting? I think so. The interior spaces (even the empty ones) are photographed beautifully. It’s good to see listing exhibited in a professional manner.


NDG 5354 Av. Doherty $369,000 02:00 pm to 04:00 pm Sutton Details	Rosemont 4977 Boul. Rosemont $389,000 02:00 pm to 04:00 pm Re/max Details	Le Plateau 365 Av. des Pins E. $449,000 02:00 pm to 04:00 pm Sutton Details

We’ll be back with new properties next week. If you would like to suggest an open house link, drop me a comment!

Undivided Co-ownership: Formalities involved

Deya Bautista — Fri, 09 Jan 2009 13:30:05 +0000

In previous articles we discussed what undivided co-ownership means, as well as the financing required for these types of properties. Today we will take a brief look at the formalities involved in creating a undivided co-ownership.

How is it formed?

To create an undivided co-ownership you, and the other co-owners, will need to draft a formal “Indivision agreement”, (with the help of a notary, of course) Then this document must be registered and published to be enforceable against third persons.

The agreement may cover the following:

The term of the agreement (maximum term is 30 years, but can be renewed)
Rights and obligations of the co-owners, regarding the use of the premises
The sharing of maintenance and renovation
The sharing of expenses
Rules for administering the property
Rules governing division on termination of the indivision agreement.
Restrictions on selling.

Restrictions on Selling

When reselling your undivided unit, it’s crucial to know that in some instances, and depending on the indivision agreement, the remaining co-owners have the right to exclude a potential buyer:

“It is important first to take a look at the indivision agreement that governs the relationship between co-owners. These agreements often require that a co-owner offer his share to the other co-owners before offering it to a third party, or provide for the other co-owners to be able to match the third party’s offer for this share, following the terms of the agreement. A seller who decides to ignore these terms exposes himself to legal action and potential liability for damages”. (Source: ACAIQ)

What if a co-owner defaults on their mortgage payments?

This is a question that has been asked many times. We looked into this at 1 800 notaries.ca website and found the following answer:

“The Civil Code of Québec provides that each undivided co-owner may hypothecate his or her share of the property alone. The other co-owners are thus in no way liable should the hypothecary debtor default. The law even gives them special rights”.

That’s it for the undivided co-ownership series. Opinions, corrections and amplifications are encouraged in the comments. If you have questions, need help or simply want an agent to represent you in your purchase, contact us

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Square Benny: Green Condo Development in NDG.

Deya Bautista — Fri, 19 Dec 2008 13:00:12 +0000

An Environmentally friendly construction.

Photo Source: McGill Immobilier

When we think about green, we imagine trees, open air and nature. The words green development will make us envision a home community surrounded by gardens and trees, but we also think about eco-friendly housing: energy efficiency, recovered (recycled} construction materials, and all this we thought to be the way that our future homes will be built.

The Square Benny Condo Community was created by a private developer named McGill Development, the same who created the 777 Gosford, Orleans and M9 in Old Montreal.

Located in NDG, the Square Benny consist on two small buildings; 3 to 4 floor high, surrounded with, you guessed it, a lot of green spaces. Something that not many new condo projects are doing now-days.

Unlike other mid-rise buildings, this project is made with a concrete structure, and with 8 inches of concrete slab in between each floor, the neighbours downstairs won’t hear you drop the spoon on the kitchen floor. Superb soundproofing.

Let’s talk about the heating and cooling system.

The first time I read the term “Hybrid Condos”, I thought: “What the heck? Another publicity stunt?”
Maybe some alien technology only available at this particular project. Then I heard: 55% of savings on your heating/cooling (energy) consumption. Now we’re talking…

The use of Geothermal System to cool and heat the condo units, promises an energy reduction from 55 to 60% if you’re using electric heating. Savings on my heating and cooling bills I can live with. Of course, if you’re heating with oil, then the savings are much more than that.

Back to the Hybrid Condo concept: The Geothermal system is used along with electrical baseboards for extra heating. Hence the term “Hybrid”. There, mystery solved.

We talked about the quality of construction, a heating system that saves money, an eco-friendly development and lots of green spaces. Also there are 30 different condo layouts to choose from. Check out the floor plans. No cookie-cutter models to get stuck with.

Garage, any one?

Something important to mention: All condos have an indoor garage space included in the price.
I don’t know about you, but I sure love NOT to shovel snow and defrost my car in the winter mornings. We all now that interior parking comes as an extra in most projects, and they’re not exactly cheap either.

Delivery Date: Summer 2009.

Location: 4100 Benny (corner of Monkland). ?If you are familiar with NDG, you know by now what’s available around: Restaurants, Boutiques and Cafes of the Monkland Village. Steps to Rue Sherbrooke and all it’s amenities. Access to highway, downtown takes 12 minutes to reach.

Opening Hours: Monday to Thursday 2pm – 7pm. Weekends: Noon – 5pm

Special Offers: “Free stainless steel appliances (value of $6,800) if you purchase between the 27,28 & 29 of December 2009″. See details here

Website: www.habiter.com

What’s coming up in the neighbourhood…
The NDG Sport Center – PDF Link
NDG Library

For more news and updates on Square Benny: Subscribe to the blog