St Laurent Blvd: Under the knife again.

Oh yes, once again Boulevard St. Laurent is going through major repairs. This time though, the city has put up a sign with the details of the work. Thanks, that helps a lot.

Not having enough repairs done last year, the digging up started once again, this time it’s Gaz Métro turn. The city intends to add a few “cosmetic changes” to the boulevard by enlarging the sidewalks (aren’t those sidewalks brand spanking-new?): addition of lamps and trees, insertion of historic indicators (if this continues, there will be no one who’d care to read them!), taxi stands, bus stops and even the installation of parking for bicycles on the sidewalk.(Uh?). The good news, the bicycle parking is already done, at least on this side of the street:

Expect nothing but dust, noise and traffic jams in Blvd St Laurent between Sherbrooke and Mont-Royal. Hopefully, the local merchants will not go out of business. One more year of construction hell, then (crossing fingers) back to normal. Unless, of course, someone else decides to install a baby-stroller path, or something similar to it.

Media Coverage [Montreal Gazette]:

Pain on the Main: Work plans raise a stink
How city hall is killing St. Laurent Blvd. - one construction barrier at a time

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Montreal Real Estate Board Report: February 2008

Residential Resales Pick Up in February Thanks to the Condominium

The Greater Montreal Real Estate Board (GMREB) indicated that property sales for all categories recorded a 3% increase in February 2008, according to MLS® system data, compared to the same period in 2007. Condominiums set the tone with an 18% increase in transactions.

MLS® Residential Statistics Montréal Metropolitan Area - February 2008
		Variation
Active listings New listings Total sales Single-family Condominiums Plex (2 to 5 dwellings) Volume of sales Median price Single-family Condominiums Plex (2 to 5 dwellings)	25,177 7,913 4,500 2,783 1,269 409 $1,102,172,663 $220,000 $177,000 $330,000	-3 % +6 % +3 % -2 % +18 % -6 % +8 % +8 % +4 % +6 %

“After being put to the test in January, the confidence of consumers in Quebec in February reached a level almost equivalent to the one recorded in 2007. The short term decrease of interest rates definitely encouraged this renewal of confidence and is excellent news for the real estate market,” says Michel Beausejour, FCA, Chief Executive Officer of the GMREB. Read more

Montreal Cultural Properties Advantages & Obligations

Montreal has the highest concentration of historic monuments in Canada and more than 40,000 buildings are protected under provincial or municipal legislation. These buildings represent an exceptional collective heritage that the city’s administration is dedicated to protecting and promoting in various ways.

Photography: Caribb

Owners of classified buildings that are recognized as cultural property or located on a historic site, in the Mount Royal Historic and Natural District or in the Old Montreal historical district, must obtain authorization from the ministère de la Culture, des Communications et de la Condition feminine before carrying out alterations.

Owners who wish to modify the exterior of a designated monument or an immovable that is part of a heritage site must comply with the conditions applicable to the preservation of the specific elements of the building, as well as with the municipal by-laws. They must also first apply for a permit from the city.

These heritage buildings may benefit from financial assistance under a joint program of the city of Montreal, the ministère de la Culture, , des Communications et de la Condition feminine and the Société d’habitation du Québec. The by-laws concerning subsidies for the restoration and renovation of heritage buildings and for archaeological excavations was adopted for this purpose.

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Making an Offer to Purchase

Once you have found the home you would like to purchase, you need to present the vendor with an Offer to Purchase or an Agreement of Purchase and Sale. As your home is probably your biggest investment, it would be wise to work with your real estate agent and/or a lawyer/notary in preparing your offer. Remember that the Offer to Purchase or Agreement of Purchase and Sale is a legal document and should be carefully prepared.

Any offer or agreement will typically include:

• Your legal name, the name of the vendor and the legal civic address of the property.
• The purchase price offered.
• The chattels that will be included in the purchase price (e.g.: window coverings, appliances or a satellite dish). Whatever items in or around the home that you think are included in the sale should be specifically stated in your offer.
• The amount of deposit.
• The closing day (date you take possession of the home)–usually 30 to 60 days from the date of agreement. It can also be 90 days or longer.
• Request for a current land survey of the property.
• Date when the offer becomes null and void.
• Any other conditions that go with the offer, including property inspection and approval of mortgage financing.

The process of making an offer, receiving a counteroffer and then revising it again is not uncommon. The whole process can seem like a roller coaster ride – exciting, but stressful. It’s all part of making the deal work best for you and the vendor.

Source: CMHC. Subscribe to the Montreal Real Estate Blog