UNIT #202 $668K INTERIOR PICTURES

These are some interior pictures of one of the smaller units. They may be interesting for decorating ideas. click on the thumbnails for a larger image.

Cheers

Doug Izon P.Eng. Broker, Century 21 Dreams Inc. www.EyesOnOakville.com 1-800-605-5909  doug@eyesonoakville.com
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Foyer Entrance to Suite

Inside Foyer

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111 Forsythe Location

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Compelling Reasons to Buy at 111 Forsythe

There are several facts that point to the observation that it is a great time to buy at 111 Forsythe.  Looking at  supply and demand it is important to note that in Dec 2009 there were 15 units for sale and in Dec 2010 there were 9 units for sale and in Dec 2011 there are 4 for sale. It is pretty safe to state that supply is down. On the demand side in 2009 4 units sold, in 2010 5 units sold, in 2011 7 units have sold so it is pretty safe to say that demand has increased .  So with supply down and demand up one should expect prices to be up at 111 Forsythe. Even without the supply and demand imbalance given the price increases in the condo market you would expect that 111 Forsythe would be selling for more than in 2009. Asking prices/sq ft are lower on average at 111 Forsythe than they were in 2009. I forcast  that 111 Forsythe is at the lowest price/sq ft now and that average price/sq ft is headed up. Economics 101 and Real Estate 101 tell us so. Are the buyers and investors listening?

Cheers…Doug Izon P. Eng. Real Estate Broker, Century 21 Dreams 905-599-1265, www.IzonHomeTeam.com; Mortgage Broker, AMP, Centum Total Mortgage Services Inc. Lic # 10646 www.TotalMortgageServices.com

For Sales 111 Forsythe Oakville Condos Dec 6,2011

For Sales 111 Forsythe Oakville Condos Sept 10,2011

There are 4 suites remaining for sale at 111 Forsythe in Downtown Oakville on the waterfront. This is down 1 since the last report. This is the lowest number of units for sale EVER! Supply and demand will soon kick in and I believe prices at 111 Forsythe are on the way up from here. The average asking price per square foot of the 4 remaining units is $810/ sq ft. Prices start at $629K and then jump to 1489K  (Over double) and go up from there. Please consider the value and unique opportunity in this waterfront downtown Oakville luxury condo. The units presently for sale are:

MLS #	Suite #	Sq FT	Price	$/sq Ft
2032884	202	810	629888	778
2031647	707	1670	1489000	892
2027550	607	2320	1675000	722
2035050	401	2335	1980000	848
Average				810

Cheers…Doug Izon P. Eng. Real Estate Broker, Century 21 Dreams 905-599-1265, www.IzonHomeTeam.com; Mortgage Broker, AMP, Centum Total Mortgage Services Inc. Lic # 10646 www.TotalMortgageServices.com

For Sales 111 Forsythe Oakville Condos Sept 10,2011

There are 5 suites remaining for sale at 111 Forsythe in Downtown Oakville on the waterfront. This is down 2 since the last report 3 weeks ago. This is the lowest number of units for sale EVER! Supply and demand will soon kick in and I believe prices at 111 Forsythe are on the way up from here. Daniels (the builder) continues the  sale on its remaining 2 units and have dropped the price on these units around 12% during the sale. They are now pricing their inventory at $780/sq ft which is a great opportunity. The average asking price per square foot of the 5 remaining units to is $797/ sq ft. Prices start at $629K and then jump to 1489K  (Over double) and go up from there. Please consider the value and unique opportunity in this waterfront downtown Oakville luxury condo. New Condo Projects in the Oakville area such as Rain Condominiums are advertising heavily and if they bring the Toronto investment community out to Oakville and this community looks at the alternatives in Oakville then 111 Forsythe will benefit. The units presently for sale are:

Builder	MLS #	Suite #	Sq FT	Price	$/sq Ft
	2029976	202	810	629888	778
	2027550	607	2320	1750000	754
	2031647	707	1670	1489000	892
Belmont		802	2070	1614900	780
Belmont		702	2070	1614900	780
	Average				797

Doug Izon P. Eng. Real Estate Broker, Century 21 Dreams 905-599-1265, www.IzonHomeTeam.com; Mortgage Broker, AMP, Centum Total Mortgage Services Inc. Lic # 10646 www.TotalMortgageServices.com

Size Matters! Small is Sensible in Condos.

One of the ways of measuring value in a condominium is the concept of price per square foot. if you’re condominium is 1000 sq ft and the price is $500,000.  then the price is $500/Sq Ft. This concept is frequently used and has great value in objectively comparing properties. I believe that this method is inappropriate for units whose size is much smaller than the average in the condo. I will give you an example of a condo or that I am selling at 111 Forsythe in Oakville. This is an update of a post I made in 2010.

Details:
111 Forsythe is a  67 unit condominium.
The average unit is approximately 1900 sq ft (very large by today’s standards)
There are currently 7 units for sale.
For Sales Size ranges between 810 sq ft up to 2320 sq ft.
Most occupied units have two people, 1 car parking, 1 locker
There are tremendous amenities as part of this building. There is a lobby, library, lounge/media room, outside gardens by the rivers, gym, boardroom,  concierge, guest suite and a large party/dining/gathering room with fully outfitted kitchen.

I would estimate that the common areas of 111 Forsythe would account for at least 20% of the total value of the building. If the value of the building is 67 units times 1900 sq ft  avg. per unit times $800 per Sq Ft, which comes out to a little over $100 million. If we say that 20% of the value of the building is common elements then there is $20 million of value that should be split equally amongst 67 units.

This works out to approximately $300,000 per unit.   The relative value of each of the 67 units now has 2 components being the common elements (in this case $300000/unit) plus the unit specific component.

The table below shows all 7 for sales using the traditional $/sq ft method and the modified method described above.
Looking at the traditional method and assuming all other factors being equal, one may conclude that the unit at 754 $/sq ft provides the best value.Unit 202 offers the second best value at $778/sq ft.

Looking at the method of removing the common element value tilts the value proposition to the smaller unit.
For Unit 202 the asking price is $630000 which would break down to $300000 for the common elements and $330000 for the unit specific component. The unit specific component divided by the number of square feet in the unit comes up with (arguably) a more accurate measure of value. In this case Unit 202 appears to be the best value in the building.  Not only is it the lowest price, but it has the lowest price on dollars per square foot (35% cheaper than the next lowest price/sq ft ) if you remove the base, common elements from the price analysis of the unit.

Another point to consider is that condo fees are based strictly on square footage of the unit. At 111 Forsythe the average unit pays 235% more per month than unit 202 although the usage of the common facilities is probably the same.

So if you are looking at a condo consider being the smallest in the family. If it suite your needs it may be the best value in future capital appreciation and ongoing costs.

Builder	MLS #	Suite #	Sq FT	Price	$/sq Ft	PRICE -Common Elements (300,000)	New $/sq ft
	2029976	202	810	629888	778	329888	407
	2027550	607	2320	1750000	754	1450000	625
	2031647	707	1670	1489000	892	1189000	712
Belmont		802	2070	1614900	780	1314900	635
Belmont		702	2070	1614900	780	1314900	635
Balmoral	W2065962	706	2160	1684900	780	1384900	641
Ambassador		1202	2306	1798900	780	1498900	650
	Average				792		615

Cheers..Doug Izon P. Eng. Real Estate Broker,  Century 21 Dreams 905-599-1265, www.IzonHomeTeam.com; Mortgage Broker, AMP, Centum Total Mortgage Services Inc. Lic # 10646 www.TotalMortgageServices.com

For Sales 111 Forsythe Oakville Condos Aug 24,2011

There are 7 suites remaining for sale at 111 Forsythe in Downtown Oakville on the waterfront. This is down 1 since the last report 1 months ago. Daniels (the builder) continues the  sale on its remaining 4 units and have dropped the price on these units around 12% during the sale. They are now pricing their inventory at $780/sq ft which is a great opportunity. This has lowered the average asking price per square foot of the 7 remaining units to is $794/ sq ft. Prices start at $628K and then jump to 1489K  (Over double) and go up from there. Please consider the value and unique opportunity in this waterfront downtown Oakville luxury condo. The units presently for sale are:

Builder	MLS #	Suite #	Sq FT	Price	$/sq Ft
	2029976	202	810	629888	778
	2027550	607	2320	1750000	754
	2031647	707	1670	1489000	892
Belmont		802	2070	1614900	780
Belmont		702	2070	1614900	780
Balmoral	W2065962	706	2160	1684900	780
Ambassador		1202	2306	1798900	780
	Average				792

..Doug Izon P. Eng. Real Estate Broker, Century 21 Dreams 905-599-1265, www.IzonHomeTeam.com; Mortgage Broker, AMP, Centum Total Mortgage Services Inc. Lic # 10646 www.TotalMortgageServices.com

For Sales 111 Forsythe Oakville Condos July 22,2011

There are 8 suites remaining for sale at 111 Forsythe. This is up 2 since the last report 2 months ago. Daniels (the builder) has a sale on its remaining 4 units and have dropped the price on these units around 12% during the sale. They are now pricing their inventory at $780/sq ft which is a great opportunity. This has lowered the average asking price per square foot of the 8 remaining units to is $784/ sq ft. Prices start at $649K and then jump to 1395K  (Over double) and go up from there. Please consider the value and unique opportunity in this waterfront downtown Oakville luxury condo. The units presently for sale are:

Builder	MLS #	Suite #	Sq FT	Price	$/sq Ft
	2029976	202	810	649888	802
	2031937	506	1980	1395000	705
	2027550	607	2320	1750000	754
	2031647	707	1670	1489000	892
Belmont		802	2070	1614900	780
Belmont		702	2070	1614900	780
Balmoral	W2065962	706	2160	1684900	780
Ambassador		1202	2306	1798900	780
	Average				784

Cheers..Doug Izon P. Eng. Real Estate Broker, Century 21 Dreams 905-599-1265, www.IzonHomeTeam.com; Mortgage Broker, AMP, Centum Total Mortgage Services Inc. Lic # 10646 www.TotalMortgageServices.com

Watermark Condos in Downtown Oakville

I was driving by the old sales office for 111 Forsythe at Navy and Robinson and noticed a pre registration sign for Watermark Condos. www.watermarkcondos.ca  This is directly across from the Granery. I looked under the Town of Oakville and found some information about the project http://www.oakville.ca/ca-oldoak-80navy.htm . I do not know if the final project will be the same as the planning documents but I imagine it will be close.. It appears to be 13 units sized from 2085 to 5710 sq ft. It will be interesting to see the price point for this premium development.

Cheers..Doug Izon P. Eng. Real Estate Broker, Century 21 Dreams 905-599-1265, www.IzonHomeTeam.com; Mortgage Broker, AMP, Centum Total Mortgage Services Inc. Lic # 10646 www.TotalMortgageServices.com

For Sales 111 Forsythe Oakville Condos May 17,2011

There are 6 suites remaining for sale at 111 Forsythe. This is down 1 since the last report less than a month ago.  The average asking price per square foot is $855. The market is  recognizing the value and unique opportunity in this waterfront downtown Oakville luxury condo. The units presently for sale are:

Builder	MLS #	Suite #	Sq FT	Price	$/sq Ft
	2026288	202	810	649888	802
	2027550	607	2320	1750000	754
Belmont		802	2070	1886900	912
Belmont		702	2070	1886900	912
Balmoral	W2065962	706	2160	1913900	886
Ambassador		1202	2306	1990000	863
	Average				855

Cheers..Doug Izon P. Eng. Real Estate Broker, Century 21 Dreams 905-599-1265, www.IzonHomeTeam.com; Mortgage Broker, AMP, Centum Total Mortgage Services Inc. Lic # 10646 www.TotalMortgageServices.com

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For Sales 111 Forsythe Oakville Condos April 30,2011

There are 7 suites remaining for sale at 111 Forsythe.  This is down 1 since the last report less than a month ago.  The market is starting to recognize the value and opportunity in a waterfront downtown Oakville luxury condo. The units presently for sale are:

Builder	MLS #	Suite #	Sq FT	Price	$/sq Ft
	2027867	503	1030	599900	582
	2026288	202	810	649888	802
	2027550	607	2320	1750000	754
Belmont		802	2070	1886900	912
Belmont		702	2070	1886900	912
Balmoral	W2065962	706	2160	1913900	886
Ambassador		1202	2306	1990000	863
	Average				816

Cheers..Doug Izon P. Eng. Real Estate Broker, Century21 Dreams 905-599-1265, www.IzonHomeTeam.com; Mortgage Broker, AMP, Centum Total Mortgage Services Inc. Lic # 10646 www.TotalMortgageServices.com