# Thoughts?



## Dmoney (Apr 28, 2011)

Both close to Bloor subway line, both $599K, both have potential for a basement apartment. 
Monarch has potential for an *insane* back yard (169 ft deep lot, 35 feet wide for 60+ feet of it) can be fenced in, put in nice patio, outdoor kitchen, pool, whatever.
East Lynn has fantastic back yard already.

Both about 35 minutes away from work, so a little worse than the 10-15 right now. Also need to subway instead of walk/bike so an extra $130/month.
Bidding war likely on the East Lynn property, Monarch offers whenever which I like.
Both have pretty fantastic interiors. 



http://www.realtor.ca/propertyDetails.aspx?propertyId=12394020&PidKey=1163281828

http://www.realtor.ca/propertyDetails.aspx?propertyId=12393234&PidKey=-956846384


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## marina628 (Dec 14, 2010)

For me I would not go into any bidding war ,Monarch has the extra bathroom and you can really make what you wish of that backyard so I vote for Monarch of the 2.


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## Dopplegangerr (Sep 3, 2011)

Wow the pictures in the second one are stunning, Love the patio and backyard space. Kitchen looks nice too


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## Dmoney (Apr 28, 2011)

Yes, the second one is extremely nice, but likely to be a bidding war and to go for 650K plus in bidding war. The backyard is amazing (huge deck, two other great levels for entertaining) and the house is 20 ft wide which is and extra 2-5 ft over many that I've looked at. 

Love the potential in the first one, and the fact that offers are open anytime, so not likely a bidding war scenario. Can easily see an amazing backyard oasis down the road with the space available. Could also rent basement for ~$800-1,000/month which would cover a ton of the mortgage. Possibly under asking price as well. Was bought for $530K in 2010, agent thinks $580K might be a good offer. 

Need to familiarize myself with the neighbourhood before I think any further on it.


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## Mall Guy (Sep 14, 2011)

I think I shall never move back to Toronto ! Get to know the neighbourhood, spend time on the street at different times of the day . . . East Lynn looks great from the pictures . . . . never moving back to Toronto !!!


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## Berubeland (Sep 6, 2009)

I like the Monark Park home better for neighborhood, the other is too close to Woodbine.


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## Four Pillars (Apr 5, 2009)

They both look pretty good. It says the lot size for the Monarch house is 17.65x169.66, but in the description it says 35 feet wide? The front sure doesn't look 35 ft, so is it an irregular shaped lot? 

I wouldn't worry about the neighbourhoods. They are not as prime as say the Withrow Park area and the Danforth is not as nice along there, but you also don't have to pay $900k for the house.

In general, heading east is not so good, but the East Lynn area is nice. We've been to the park there quite a few times and there are a million kids in that area - very up & coming. Again - you have to look at what you can afford.

Monarch Park Ave is a very nice street. Monarch park (the actual park) is also really nice, with a great community centre - outdoor pool with neat slides.

Both locations would be good for renters as they are close to the subway.

I would have no concerns about living in either area.


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## MoneyGal (Apr 24, 2009)

What FP said. Monarch Park is a lovely street in a great neighbourhood. I cycle through there EVERY day and my kids are at Monarch Park many evenings (one kid is there tonight as part of some "eco club" her school set up). 

I also know the East Lynn neighbourhood and I don't like it quite as much (I'm there with my kids often, too - there is a good farmer's market; this past weekend there was a big craft fair there, etc.). There are fewer trees and overall the neighbourhood is more East York-y.


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## Dmoney (Apr 28, 2011)

Thanks for the input!

I think the Monarch Park is better value, which also seems to be the consensus here. 

FP: The lot is 17.65 wide for the first 100 ft, then in the back it is 35x70 (so the 17.65 continues for the full 170 ft, but the last 69 ft includes an additional 17.65 ft)

I wandered around the area for a few hours and the immediate vicinity seemed pretty great, though the Danforth area isn't as nice and a few of the other larger streets look rough around the edges. The pocket around the house seemed full of youngish families and the people were really friendly.

Not much in the way of grocery stores or restaurants etc., even along the nearby parts of Danforth.

Demographics (from 2006 census) look fairly average for Toronto, it's not the Rosedale or the Bridle Path, but it's a little better than Regent Park. 

Price is in my range so we'll see...


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## Four Pillars (Apr 5, 2009)

The East Lynn house sold for $632,500.


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## Dmoney (Apr 28, 2011)

Four Pillars said:


> The East Lynn house sold for $632,500.


How do you know that? Do you have access to past transactions? If so how? Teach me your ways!!!


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## Four Pillars (Apr 5, 2009)

Dmoney said:


> How do you know that? Do you have access to past transactions? If so how? Teach me your ways!!!


There's a newsletter that shows sold prices. Not sure if it includes every single house, but there are a lot. That East Lynn house was in today's email.

Go to http://tosolds.ca/ and signup. It's pretty good.


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## Dmoney (Apr 28, 2011)

Wow... Signed up, might not get it until tomorrow but it sounds awesome. Thanks for the link.


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## marina628 (Dec 14, 2010)

Loots like you better grab the other house


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## Dmoney (Apr 28, 2011)

That or back to the drawing board. One of the ones I was looking at was listed $499K, sold OVER $600K. And it wasn't underpriced to begin with, it was much less impressive than the other two. Despite all the doom and gloom articles, the market is not slowing as much as people seem to fear.

I'm still getting familiar with Toronto, so I'm taking my time, but the area around Dieppe Park seems pretty nice from what I saw of it. Will broaden my horizons as time goes on and make a more educated decision. 
The input here has been great, as always.


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## marina628 (Dec 14, 2010)

Better to take your time than to rush and regret it later.


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## NotMe (Jan 10, 2011)

Dmoney said:


> That or back to the drawing board. One of the ones I was looking at was listed $499K, sold OVER $600K. And it wasn't underpriced to begin with, it was much less impressive than the other two. Despite all the doom and gloom articles, the market is not slowing as much as people seem to fear.


I have to agree; in my own hood (Don mills/lawrence) houses that are reasonably well priced are selling firm in the 'usual' length of time. I'm also a little amused every year when it's announced that July/August sales are down from May/June and people think that's a trend; you need to give it more time (in other words, I'm going to predict that the last two weeks of December are also going to be slow). I really would have thought that the much heralded pricing correction would have come, but so far demand seems so constant that a low inventory seems to be keeping it going. It must level out, but as they say the market can be irrational longer than we can be solvent.


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