Provenance and pedigree meet comfort and contemporary conveniences on this breathtaking and very private 4.5-acre grand Montecito estate, currently being showcased in the Wall Street Journal “Behind the Listing” section. The Mediterranean home, lovely guesthouse and vintage pool house rest on the grounds of historic El Mirador. There is a special, rarefied quality here, yet the ambiance evokes a sort of joie de vivre. Impeccably landscaped gardens, expansive manicured lawns and hedges, a pond, pergolas, terraces, and a large pool provide space and amenities for extensive entertaining and celebrations.
The primary residence, though substantial, offers an air of intimacy, warmth, and calm abiding, thanks to liberal use of warm woods in floors, masterfully crafted cabinetry and paneling. Those accoutrements are complemented by vast open-beam and truss, barrel- and groin-vaulted ceilings and an abundance of French doors and windows. The result is a singular home imbued with a profusion of spaciousness and light.
Rooms are large yet somehow intimate. The formal living room, for example, at over 1,000 square feet, feels friendly and comfortable thanks to its substantial fireplace, large cove windows, and its French doors opening to one of several terraces, and beyond to impeccably maintained grounds. The family room, library, office, loggia and grand foyer grace the home’s entrance level as well. The formal dining room — comfortably seating a dozen or more in style — as well as the large chef’s kitchen and adjacent informal dining area, create a culinary center perfect for entertaining friends or large and extended family.
The home’s four bedrooms all host baths en suite. The nearly 600 square-foot master suite could uphold the title “regal” with its impressive fireplace, arched French doors to its private balcony, pair of large walk-in closets, and two luxurious bathrooms. A second primary bedroom suite also has a fireplace, as well as a pair of intimate balconies.
Even the most discerning guests at this grand Montecito estate will feel at home in the substantial 3-bedroom, 2-bath guest house. Its upper level hosts a large living room, bedroom and bath, while the entry level features a den, kitchen and dining area, two bedrooms and an additional bath.
The Adobe, a structure well-preserved from the original El Mirador estate, has been expertly restored to maintain the ambiance of yesteryear while incorporating today’s comforts and amenities. It provides 2 bedrooms, 2 baths, a kitchen, and a wonderful over 40-foot-long living room. On one side it opens to an expansive vine-covered veranda, running the entire length of the adobe and overlooking the lighted tennis court. On the other side, the living room opens to the estate’s glistening swimming pool.
It is to be expected of any grand Montecito estate of this stature that its grounds would be as magnificent as its structures. Palmyra is no exception. Elegant entry gates open to a serpentine driveway lined with tall hedges and mature trees. There are rolling lawns, impeccably-trimmed privets, tropical and native flora, citrus trees, flower gardens, a lagoon, pergolas and fountains.
Adjacent to acclaimed Lotusland, this magical Montecito estate represents the epitome of class, prestige, and the comfortable luxury and sophistication for which Montecito is world-renowned.
Introducing Regent’s Crescent, a London real estate redevelopment that’s an amalgamation of the city’s rich history and modern conveniences officially launched sales earlier this week. Designed in the 1800s by a Famed Architect John Nash and known as Regent’s Crescent, the development comprises an entire terrace row on Park Crescent, right on the edge of the capital’s leafy Regent’s Park.
The terrace is Grade I-listed—the rarest historic architectural designation in England—and was designed by John Nash in 1820. Following the completion of its redevelopment next year by CIT Group, it will be home to 67 new apartments and nine villas, according to a news release.
Sales have quietly been taking place off market for around a year with 25% of inventory sold, according to a spokeswoman for CIT. The remaining homes are now fully on the market.
Despite the addition of brand new residences, the development remains listed due to its retention of the original listed Nash-designed facade. The construction work has also repaired wartime bomb damage to restore “the truest version” of Nash’s work, the release said.
The famed British architect of the Regency and Georgian eras is responsible for some of the U.K.’s grandest designs, such as Buckingham Palace, Marble Arch and Brighton’s Royal Pavilion.
In Nash style, the building will have Regency-inspired features such as fanlights, chimney stacks and an 18th century ice well that was discovered on site and has been preserved.
In the residences, which will be priced from £2.9 million (US$3.7 million), materials such as herringbone timber flooring, marble and plaster mouldings feature throughout.
“Regent’s Crescent is a remarkable scheme that we are proud to be working on,” Its unique combination of enchanting and historical importance, outstanding original design, unsurpassed new build quality and remarkable location make it a very rare and special offering for the capital.”
Residents will also have access to amenities including a spa, a swimming pool, a private cinema, underground parking, 24-hour concierge and security and access to private residents’ gardens.
In Ontario, a couple we’ll call Matt, 54, and Hillary, 50, make a good living, Matt in financial services, Hillary in a large service organization. They have a daughter in her 20s who is financially independent. Matt and Hillary bring home $9,892 per month and have prospered by trading up in the prolonged real-estate boom. A semi-detached house purchased a decade-and-a-half ago tripled in value in their downtown market. They now have a $1 million home, a $560,000 investment property, $204,000 of RRSPs, $4,800 in TFSAs and two cars, with an estimated total value of $21,800. For a couple who came to Canada 18 years ago, prosperity is a sign of their achievements.
But their financial picture is not all perfect. They owe $689,000 in mortgages, $25,000 on an investment loan for a poorly performing mutual fund, $17,827 for a car loan and $6,000 on a line of credit. This leaves them with a net worth of $1,057,273, about 82 per cent of which is tied up in real estate.
Berkshire Hathaway HomeServices, one of the largest, global, real estate brokerage franchise networks, with more than 50,000 agents and nearly 1,500 offices throughout the U.S., Canada, Europe and the Middle East today announced the addition of the independently owned and operated Les Entreprises Sacha Brosseau Inc. to the network. The franchise will operate as Berkshire Hathaway HomeServices Québec.
This new firm is led by Sacha Brosseau, the former Chief Brokerage Officer for Sotheby’s International Realty Canada. Sacha was inspired to go into real estate by his father. He started in the real estate industry in 2005 working in partnership with his mother, a 30 plus year real estate veteran. Fourteen years later, as he imagined what step to take next and hearing how highly his colleagues spoke of Berkshire Hathaway HomeServices, his father again provided inspiration. His father who has an “affinity for investment” had been closely following Berkshire Hathaway, Inc. and hearing great things about Berkshire Hathaway HomeServices.
Brosseau reached out to Berkshire Hathaway HomeServices to see if the network would be a fit for his vision and met soon after with Michael Jalbert, Executive Vice President of Global Business Development for Berkshire Hathaway HomeServices. As they toured the city of Montreal and discussed plans and goals, they found themselves aligned in vision and core values. Brosseau described the application process as thorough, “we each conducted our own due diligence.”
Berkshire Hathaway HomeServices saw the value that Brosseau had already created in the province of Québec, while Brosseau knew his aspirations would be strongly complemented by such a trusted brand. As a result of their meeting of the minds, Brosseau is set to launch Berkshire Hathaway HomeServices Québec on June 1st 2020 — an office in Montreal with a vision for the network across the province.
In addition to the new physical presence, Sacha is building a team from his vision. “I want to be the firm that brokers aspire to join,” said Brosseau, “I won’t bring on brokers who are starting their careers, and I also won’t hire brokers who don’t play well with others. I am assembling a team of well-respected realtors who know the value of collaboration and will provide the highest level of professionalism and ethical standards to all of their clients”.
Brosseau’s vision benefits from the strength of the Berkshire Hathaway HomeServices network. He recognizes that the best people want to work for the best network.
“You can always have a great brand,” Brosseau added. “You can always have a great broker. But success in residential real estate is when you’re able to combine the two. The greatest brand cannot flourish to what its possibilities are without the best brokers being part of it. At the same time, the greatest brokers can’t flourish unless they are part of a great brand which gives them the tools they need to reach the next level in their careers.”
The brand strength goes beyond the bottom line for Brosseau. Throughout his negotiations with the network, he could see that they cared about his philosophy and success. “I do not feel like I’m part of a large corporate structure that is concerned solely with the numbers. Whatever is good for them, they want to make sure it is good for me as well.”
The addition of the Montreal location furthers Berkshire Hathaway HomeServices’ global reach, who over the past three years has added franchisees in London (Kay & Co.); Dubai (Gulf Properties); Madrid and Barcelona (LARVIA); Lisbon (Portugal Property); Milan (MAGGI Properties); and Berlin and Frankfurt (Rubina Real Estate). Berkshire Hathaway HomeServices Québec joins Toronto Living Realty to become the second network member in Canada.
When asked about Québec’s real estate future, Brosseau gave a positive but realistic assessment, “I feel very strongly about Québec. The Province of Québec has always been stable. The reality is that we always maintain a good stability. In this province, real estate is the best investment you can make for your future.”
“We are excited to work with Sacha Brosseau to bring his vision of a brokerage to the province of Québec,” said Chris Stuart, CEO of Berkshire Hathaway HomeServices. “Sacha’s singular vision along with the reputation of Berkshire Hathaway HomeServices creates a major player in the real estate market in Québec. We cannot wait to see where Sacha takes his brokerage.”
The company also gains access to Berkshire Hathaway HomeServices’ ‘FOREVER Cloud’ technology suite powered by Salesforce including lead generation, marketing support, social media content, video production/distribution support and more. In addition, Berkshire Hathaway HomeServices provides global listing syndication, professional training and the exclusive Luxury Collection marketing program for premier listings.
About Berkshire Hathaway HomeServices
Berkshire Hathaway HomeServices is one of the world’s fastest-growing residential real estate brokerage franchise networks, with more than 50,000 real estate professionals, nearly 1,500 offices throughout the U.S., Europe and the Middle East, and more than $119 billion in real estate sales volume. The network, among the few organizations entrusted to use the world-renowned Berkshire Hathaway name, brings to the real estate market a definitive mark of trust, integrity, stability and longevity. Visit www.berkshirehathawayhs.com.
Sidewalk Labs, a Google-affiliated company, is abandoning its plan to build a high-tech neighbourhood on Toronto’s waterfront, citing what it calls unprecedented economic uncertainty.
The project, dubbed Quayside, still didn’t have all of the government approvals it needed to go ahead. Toronto citizens and civic leaders had raised concerns about the privacy implications of the project and how much of the city’s developing waterfront Sidewalk Labs wanted to control.
The so-called “smart city” was set to feature a range of cutting edge technology, from residential towers made of timber to the use of autonomous cars and heated sidewalks. The company had initially claimed the project would create 44,000 jobs, generate $4.3 billion in annual tax revenues and add $14.2 billion annually in gross domestic product for Canada.
“As unprecedented economic uncertainty has set in around the world and in the Toronto real estate market, it has become too difficult to make the 12-acre project financially viable without sacrificing core parts of the plan we had developed,” company CEO Dan Doctoroff said in a statement.
Toronto Mayor John Tory was quick to issue a statement saying he regrets the company’s decision, but anticipates others will step in to develop the area.
“Toronto’s economy will come back strong after COVID-19 and we will continue to be a magnet for smart people and smart companies,” he said in an email.
If, like most people in the Toronto region, your personal financial outlook depends largely on real estate, Tuesday was probably a bad day.
The Toronto Regional Real Estate Board reported a 67 per cent year-over-year drop in home sales in April. Average home prices remained at April 2019 levels, but they still trailed March’s GTA average price by about $80,000.
Also on Tuesday, senior officials at Canada Mortgage and Housing Corp. suggested that Canada’s real estate prices likely wouldn’t return to prerecession levels until the end of 2022.
But national outlooks don’t necessarily reveal regional, municipal or even neighbourhood distinctions, and some experts say Toronto’s prospects may not be entirely bleak.
In its housing report Tuesday, RBC Economics suggested that the worst may have passed with April being the low point for housing resales now that the economy shows signs of starting back up. Health and job prospects will remain top of mind. But the risk of a sharp price decline is low in the near term, “except in Calgary and other harder-hit markets where property values were already depreciating before COVID-19,” said RBC.
The City of Toronto has been working with homeowners to help delay payments for Toronto property taxes and utilities as well as suspend late payment fees. Below you will find more information on this program as well as the remaining due dates/options for payment for the rest of 2020.
The original deferral plan covered the dates from March 16 to May 15.
As May 15 approaches, the City is making home owners aware of the new interim bill due dates, which will be mailed to all customers.
Below is a chart of the installment options and due dates available for the remainder of the year.
Customers on the 11-installment plan will have their deferred payments spread evenly over their remaining payments for the year.
For customers who are on pre-authorized payments or have sent post dated checks to the city, your payments will just resume as usual following the conclusion of the deferral period.
If you pay your taxes together with your mortgage please contact your mortgage professional for more information.
If you would like more information on your property taxes, please refer to the online Property Tax Lookup tool.
For utility bill customers, billing due dates have simply been pushed back on all of your utility bills.
There’s nothing like a global pandemic to cool down a boiling hot real estate market, it seems, as anyone buying or selling a home in Toronto right now can tell you.
Just a month after posting a staggering year-over-year sales increase of 45.6 per cent in February of 2020, home sales have fallen off a cliff across the GTA due to what most experts believe to be the ongoing public health crisis.
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