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My Real Estate observations and predictions for our local Mississauga, GTA and Canadian Real Estate market for 2009 and 20102007 Real Estate Market Predicitons for the GTA


Specifically, if you are thinking of selling and/or buying a home in the next few months, this article will apply to you.

Blogging is defined as a website where postings about commentary or news are shown in reverse chronological order.  It's supposed to be personal writings that compel you to continue reading the story.  All too often my blog has contained plenty of facts and information and been short on my personal views, observations and opinions.  Part of this is due to time constraints, part to the fact that I am a logical engineer thinker and mostly because I am not much of a creative writer.  So here goes my shot at wowing you with my words of wisdom.

My current market thoughts and observations :

 
This is what I predicted that would happen in 2007
Read my entire post from 2007 predictions at this link:
http://www.mississauga4sale.com/newsletter/Toronto-GTA-Real-Estate-Market-Predictions-2007.htm
 

Historically, our real estate market in the Mississauga, Brampton and GTA peaks beginning about the end of the March break and ending about the end of April.  See the historical seasonal trends here.  Given the pent-up demand in our marketplace, the fact that listing inventories are down, we could see a shift of the spring market and our market may be very strong in early 2008.  I can see this happening, so if you are thinking of selling in the spring, you may be wise to get on the market earlier rather than later to capitalize on the early market strength.

This is what I predicted in 2008 for 2008

Mark's Predictions for 2007

Conclusion that I draw from this and other sources and my predictions for 2009 and 2010

Mark's Crystal Ball for 2009 and 2010

This is what I predict for 2009 - 2010 in real estate, interest rates and more!
  • I see that our marketplace in the GTA will see price increases of about 8 to 10% this year.
  • I believe that mortgage interest rates will be about the same as they are now, see current rates here, and they will stay this way until about September of 2010, maybe be .5% higher, just so the banks can make money! lol
  • Rental vacancy rates will increase slightly, thus rental rates will stay about the same as they are or slightly decrease by December of 2009.  A 'typical' 10 year old 3 bedroom townhome in Erin Mills currently rents for about $1400 to $1550 per month and this will be about the same in 2009 to 2010
  • With interest rates at an all time low, this will only continue to make real estate investment properties more desirable and lucrative, it's time to buy another property if you can afford it!
  • The condo market will soften due to oversupply and many buildings coming on the market
  • I believe that the US will be just begin to see the light at the end of the tunnel by the end of 2009, and they will be on the road to recovery
  • A barrel of oil will have reached $90 per barrel sometime in 2009, mostly due to an international crisis and absurd speculation fueled by the pundits and the press
  • Along a similar vein to the last prediction, gasoline prices will peak at $1.20 per litre sometime in late 2009 but will be $1.09 by year end.
  • Gold will be soft and less than $900 by end of 2009
  • If the experts are now stating that 82% of all buyers begin their real estate search on the internet, I believe that it will be 90% by the end of 2008 and by 2010 well over 90% of everyone buying real estate will use the internet
  • Watch out for following the emotions of the marketplace and stick to your long range goals
  • I believe that Mississauga will continue to be one of the top cities in Canada and the world to live in and that people will continue to choose Mississauga as one of their top choices of places to live in the GTA  Read about the psychology of ownership.  Real estate will always be an excellent investment especially if you get a firm hold on your finances and will continue to be the best long term investments in your future and your children's future that you can make!

    Update on July 21st, 2009: this is still true!

All the Best!

Mark

So, if you are thinking of selling and buying a homes this year, should you buy or sell first?  I've had many clients purchase before they sell.  I just want you to have all the information so you can make the best decision for yourself and your family.  You may read more about buying or selling first here

I wish you much success, good health and happiness in 2008 and always!  Powered by MarkArgentino

Read more about my 2008 predictions at my blog

Past Issues of TREB Market Watch for Toronto Real Estate

If you would like to discuss issues like this or other questions you may have, please email me at anytime .

Read what I predicted last year at this time!

I hope this helps a little to answer your questions and give you a little insight into my thoughts on 2008.  I will post this on my blog for others to see.  Any comments from you would be appreciated.

Mark's signature

 

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