Mississauga Real Estate, Homes, TREB & MLS Blog by Mark Argentino

Mortgage interest rate update in the GTA and Mississauga

2009-07-02T21:56:00.001-04:00

The table below shows the current posted and best achievable rates in
Mississauga Real Estate and Toronto real estate marketplace

All the best!
Mark

TERM POSTED BEST Achievable RATES*
6 Month 4.60% 3.75%
1 Year 3.75% 2.75%
2 Year 4.05% 2.95%
3 Year 4.65% 3.55%
4 Year 5.14% 4.09%
5 Year 5.85% 4.22%
7 Year 6.80% 5.45%
10 Year 6.90% 5.50%
Variable Rate 2.65%
Prime Rate 2.25%

* Rates may vary and are subject to change without notice OAC.
Rates Last Updated: Thursday, July 02, 2009

I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

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Happy Birthday Canada!

2009-07-01T09:13:00.001-04:00

Today is Canada's Birthday celebrating 142 years since Confederation.

I have a client from Buffalo who is an American and they sent me a Happy Birthday note along with an image, showing that how close we are as countries.

For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1

BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com

Power of Sales and Bank Foreclosure Question

2009-07-01T08:46:00.002-04:00

I had a question from a reader and thought I would share my answer:

Question: My understanding is that the bank must list the property for what is owed,
including any seconds and thirds. Is this true?

Answer: The mortgagee processing the POS is under no obligation and owes no duty to
subsequent mortgagees. This is why you will occasionally see a 2nd or 3rd
mortgagee bring the first mortgage into good standing and stall or stop the
POS to protect their interests.

I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

The Power of Persistence as learned from Rocky Balboa

2009-06-27T03:29:00.002-04:00

I thought that this was pretty good advice so I will share it with you. Although Rocky is a little corny, there were some great scenes and lines from the movie that have to motivate you. Geez, I remember jogging all around the McMaster campus after Rocky was released with grey sweats and a white towel stuffed into the collar, just like Rocky! LOL

Enjoy

Mark

This was passed along to me this morning

After years of extensive study into the key determining success factors of self made millionaires, Brian Tracy concluded that amongst the most important were the twin characteristics of persistence and determination.He quotes, “Persistence is to the character of man as carbon is to steel. The quality of persistence is the absolutely indispensable quality that goes hand in hand with all great success in life. The courage to persist in the face of adversity and disappointment is the one quality that more than anything, will guarantee your success.”

As we all know, the one thing that is inevitable in our lives is the recurring crisis. If you are living a busy life, it is highly likely you will have a crisis of some kind every few months. In between these unavoidable crises will be a continuous succession of problems and difficulties. And the more things that you attempt, the bigger your goals, the more determined you are to become successful in your life the more problems and crises you will experience.

The good news however is that you can control is how you respond to those difficulties and setbacks, and your greatest personal asset can be your willingness to stay at it longer than anyone else.

Now although it is easy to grasp this intellectually, and rationally, it is another thing altogether to live this mantra or creed on an emotional level, when we are in the midst of crisis, or when we feel at our most vulnerable. This is where it can be useful to have an analogy to draw on - something which inspires and motivates us in times of difficulty.

Perhaps one of the best and most stirring analogies I have seen In this context comes from the 2006 movie, Rocky Balboa starring Sylvester Stallone. In one particular scene he is dispensing the above advice to his son, only in his own inimitable style of course! He says,

“Then the time came for you to be your own man and take on the world, and you did. But somewhere along the line, you changed. You stopped being you. You let people stick a finger in your face and tell you you’re no good. And when things got hard, you started looking for someone to blame.”

“Let me tell you something you already know; the world ain’t all sunshine and rainbows. It’s a very mean and nasty place, and I don’t care how tough you are, it will beat you to your knees and keep you there if you let it. You, me, or nobody is gonna hit as hard as life.”

“But it ain’t about how hard you hit. It’s about how hard you can get hit and keep moving forward - how much you can take and keep moving forward. That’s how winning is done! You gotta be willing to take the hits and not point fingers, saying you ain’t where you wanna be because of him or her or anybody! Cowards do that, and that’s not you!”

Click on the link to watch this scene from the film…

click here

I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
› E-MAIL : mailto:mark@mississauga4sale.com?subject=Mississauga
Website : Mississauga4Sale.com

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CMHC predictions on the New Home Real Estate Market

2009-06-26T01:58:00.000-04:00

These are the comments made by CMHC on the New home real estate market.
New Home Market Sales Will Decline

The Greater Toronto Area (GTA) new home market will experience a slower pace in activity during 2009. Total new home sales are expected to drop to 15,500 units this year from 28,000 sales reached in 2008.

Pre-construction high-rise sales will reach 7,000 units while low rise sales are expected to hit 8,500 units in 2009, resulting in an increased share of new home sales in the low-rise segment for the first time in six years.

Softening resale market conditions have resulted in an increased supply of lower priced resale homes in many GTA neighbourhoods. Discerning buyers will be able to purchase homes at significantly lower prices in the resale market than in the new home market. Reduced pre-construction sales centre traffic will be the result. This substitution effect will slow price growth in the new home market in 2009 — the average price for a new single detached home will slip by about two per cent to $512,000.

Sales of high rise units will account for about 45 per cent of total sales this year, down from 55 per cent in 2008. While fewer projects are likely to open this year, reducing the total number of condominium units available for sale, project launches and sales are expected to pick up during the latter part of 2009.

Improved financing conditions and lower construction costs passed on by builders will bring more competitively- priced units to the market.

Steady immigration to Toronto and favourable demographic shifts will continue to play a major role in increasing demand for new condominium apartments. Lower prices for condominium apartments are especially attractive to newcomers to Canada looking for an entry point into homeownership.

An aging baby boomer population gearing up for retirement will also look towards this housing sector as they look to downsize and minimize housing maintenance.

A compositional shift in Toronto’s employment landscape will further add to demand for more affordable housing. Job losses in the goods-producing sector will mean GTA housing demand will rely more heavily on employment in the lower paying services industry.

I hope this finds you Happy and Healthy!

All the Best!

Mark

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CMHC reports on Resale Market Resale Home Buying

2009-06-25T03:58:00.001-04:00

This CMHC's predictions on the residential Resale Market Resale Home Buying

Activity Will Ease

Strong economic fundamentals have been a driving force for the GTA housing market over the past decade.

Now faced with a rising unemployment rate and declining labour income growth, households are scaling back expenditures on big ticket items, particularly related to housing. As a result, resale home purchase activity will slow down in 2009. This year, GTA home sales will decline by 21.5 per cent to 60,000 units - the lowest level of existing sales since late 90’s. 2010 should bring signs of recovery and is forecast to be a turning point for the area’s resale housing market. Improving housing affordability, combined with more favorable employment and household wealth situations will gradually entice homebuyers back into the market.

First-time buyers will continue to be a key driver of housing demand this year and next. However, this segment will demonstrate a greater degree of caution while making their home-buying decisions. A deepening economic downturn especially impacts first-time buyers, who tend to have less job security and an inadequate savings cushion to deal with temporary periods of unemployment or underemployment.

Sales of existing homes peaked in 2007 — around the same time the cost of home ownership hit a new high in the GTA. Over the 2003- 2008 period, the accelerated rise in average resale prices caused the gap between actual household income and the income required to purchase a home in the GTA to narrow. Buyers responded with a much lower level of sales in 2008.
Over the next two years, the expected home price depreciation, stable household earnings growth

and record low mortgage rates should result in more comfortable homeownership conditions. As economic conditions begin to improve next year, buyers are expected to respond to the much improved affordability conditions.

The number of existing home sales in the area is forecast to increase in 2010.

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
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REMAX Ontario Atlantic reports on the New Reality for real estate agents and the real estate market

2009-06-24T11:33:00.002-04:00

This article is published by RE/MAX Ontario Atlantic by the regional director of our area. It's an interesting perspective on what our housing market is currently doing and what is predicted for the short term and what us real estate agents need to do to survive in this business. It's somewhat of a refresher, but I've always been positive on the real estate market here in the GTA and blogged in January that January of 2009 was the bottom of the market ... and it turns out that it was!

Real estate - The new market reality

As stability returns to residential real estate markets across the country, realtors and their customers are breathing a sigh of relief. The carnage south of the border has failed to materialize in Canada and all indicators - economic and otherwise -- point to a housing market on the upswing.

These have been trying times for our industry. Realtors that bought into the negativity in the marketplace from September 2008 to March 2009 now find themselves in a precarious position. No listings, no clients, no money. The 'paralysis by analysis' approach of letting fear limit progress has few benefits.

Those that stayed the course over the period-pressing forward despite obvious challenges, adjusting to conditions, employing new strategies, creating solid business plans, farming entire neighbourhoods, and aggressively listing properties--are now ideally positioned. Realtors, who stepped up, instead of standing back, are now reaping the rewards.

The same held true for purchasers. Buyers who moved in the midst of uncertainty, ignoring warnings from doom and gloom forecasters, economists and naysayers, snapped up some of the best real estate deals this market has seen in years. By contrast, those who panicked and chose to sit it out on the sidelines are now facing rising interest rates and-in some markets-limited inventory levels.

With national resale housing market activity returning to pre-recession levels in May, it would seem that we've come through the worst of the financial meltdown, with the real estate correction nearing an end. The number of positive indicators is very encouraging. However, recovery is still underway, and there may still be some bumps along the road.

Nevertheless, the buoyancy in the marketplace took economists by surprise. Just over half of all major markets reported an increase in unit sales in May over year-ago levels.

Consumer confidence continues to strengthen across the board. While the summer months are approaching, it is important to remember that there is still much work to be done. This is not the time to take your eye off the ball.

Ours is a market-a business-that must, by necessity, continually evolve. We know by experience that the real estate climate can change quickly, as evidenced by events such as 9-11 and the current financial crisis.

However, a smart realtor is one that is always prepared-never taking a good market for granted, always employing strong business fundamentals to ensure that, while markets may suffer, his/her career will not. To that end, going forward, we may all have to go a bit further, work a bit harder, and persevere to maintain a competitive edge. While some may view this a time to survive, there's no question that, for those who are savvy, it can very well be a time to thrive.

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Mississauga and GTA Mortgage rate update

2009-06-22T10:58:00.001-04:00

Good morning,

I hope you are doing well and enjoying our fabulous weather and looking forward to our upcoming summer season.

As you might be aware that in the past two weeks, fixed rates have increased dramatically.

Right now, 3-year fixed rate is 3.65%, 4-year fixed rate is 4.05%, 5-year fixed rate is 4.49%.

If you are thinking of a mortgage move and you did not lock into low fixed rates, don't worry. I know mortgage people who have solutions for you .

1. 5-year variable at P+0.25% (currently 2.5%). with ongoing sagging economy, the Bank of Canada will keep the Prime rate low for at least 1 year.
Although fixed rates have gone up a lot, we can expect they come back down in near future, because recession doesn't support high interest rates.
The benefit of Variable rate is that you can convert it into fixed rate any time with no cost. So you would have another chance to lock into lower fixed rate later while taking advantage of the current low variable rate.

2. If you don't want to commit to long term mortgage, you can opt for 1 year fixed rate at 2.75%.

With big short-term savings, the above two are good alternatives to long term fixed mortgage.

Please don't hesitate to contact me if you need any assistance and I will put you in touch with mortgage people who will take care of your needs!.

Mark

Latest Mortgage Interest Rates in Mississauga and Toronto

2009-06-19T09:56:00.000-04:00

These are the latest mortgage interest rates that are posted and attainable

Have a great weekend!
Mark

TERM	POSTED	Attainable RATES*
6 Month	4.60%	3.75%
1 Year	3.75%	2.75%
2 Year	4.05%	3.05%
3 Year	4.65%	3.55%
4 Year	5.14%	4.09%
5 Year	5.85%	4.32%
7 Year	6.80%	5.25%
10 Year	6.90%	5.35%
Variable Rate		2.65%
Prime Rate		2.25%

* Rates may vary and are subject to change without notice OAC.
Rates Last Updated: Thursday, June 18, 2009

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
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Would you like me to send you a 2009 Calendar?

TREB reports that the May 2009 sales figures were higher than last year

2009-06-19T01:02:00.000-04:00

TREB reports that the May 2009 sales figures were higher than last year

Toronto, June 2, 2009 - In May 2009, Greater Toronto ReAlToRs® reported 9,589 sales, up almost two per cent from May 2008 – the first annual increase since December 2007. The seasonally adjusted annual rate of sales in May was 81,300.

The average price for May transactions was $395,609 – down less than one per cent compared to the same month last year.

The resale housing market in the GTA has remained resilient in the face of challenging times globally,” according to TReB President Maureen o’neill. “Many home buyers have taken advantage of extremely low mortgage rates.

West » Active listings decreased by 7.1 per cent, while new listings fell by 31 per cent in April 2009 over April 2008. Sales were down by 9.41 per cent with 3,078 homes sold in April 2009 compared to 3,398 one year ago. In April 2009, the average price paid in the West Toronto district dipped .9 per cent to $368,945 from $372,575 the previous April. Homes
were on the market for 37 days, an additional nine days or 32 per cent longer than in April 2008.

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
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GTA and Toronto real estate market shows strength

2009-06-18T19:32:00.001-04:00

The Toronto and GTA real estate market is moving along at a very good pace. May 2009 sales outpaced May of 2008, this is a good sign!

Toronto, June 2, 2009 – Greater Toronto REALTORS® reported 9,589 sales in May which is almost 2% up from May 2008—the first annual increase since December 2007.

“The resale housing market in the GTA has remained resilient in the face of challenging times globally,” according to TREB President Maureen O’Neill. “Many home buyers have taken advantage of extremely low mortgage rates.”

We are all hoping for this excellent activity to continue

“The average resale home price has moved in line with last year’s level because of tighter market conditions experienced this Spring,” stated Jason Mercer, TREB’s Senior Manager of Market Analysis. “Home sales have increased strongly relative to new listings, bolstering home prices.”

The average price for May transactions was $395,609—down less than 1% compared to the same month last year.

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Mississauga Real Estate and GTA mortgage Interest rates on the rise

2009-06-11T10:00:00.001-04:00

As many have been predicting in past few weeks, interest rates are now on the rise.

While it is still possible to get a 5 year fixed rate at 3.99, it's days (or even hours) are numbered. The 3.99 rate is for firm purchases only and there are no rate holds or pre-approvals.

The lowest rate I have seen for pre-approval at right now is 4.09%, and as with the 3.99 rate, it's time is very limited and very well may be gone by the end of the day today.

With rates on the rise, this creates a tremendous opportunity for buyers sitting on the fence to make that purchase.

With rates going up, you will want to purchase now before the rates get any higher.

Many lenders have already put their five year rates up to 4.49%, and I expect the rest to follow. Some are hanging on to the lower rates for a little longer to gain the extra business by sacrificing profit margin, but they will be putting their rates up soon.

Today's lowest rates:

1 year fixed 2.80

2 year fixed 2.95

3 year fixed 3.15

4 year fixed 3.79

5 year fixed 3.99 (30 day quick close)

5 year fixed 4.09 (standard)

5 year variable 2.65% (prime + 0.40%)

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Motivational quotes for real estate agents and everyone!

2009-06-05T02:05:00.000-04:00

http://www.mississauga4sale.com/Motivation-Success-Ten-Scrolls.htm

This article came from some of my internet reading, and I have changed it a little, cannot even recall from where, but I’ve put it into my blackberry and have it remind me once a month that this is the way to succeed in real estate

You have to Create Daily Success in Real Estate and in your personal life to succeed in life

The journey to a successful life should be enjoyed. True success comes from accomplishing the daily activities that will lead you to your ultimate goals in life. Failing or neglecting to accomplish the daily disciplines will lead you down the path of lost opportunities and lost income.

If the penalty for not accomplishing your daily activities or disciplines was implemented or assessed today, we would look at neglecting them differently. The truth is the penalty for neglect is more visible in the future than it is today. The person who eats fried foods does not pay the penalty at 35, he pays at 55. The person who fails to save 10% of his income for retirement is not penalized at 40, but at 60.

If we were zapped today from neglecting the daily disciplines rather than in the future, our daily disciplines would change. We have to make the neglect more painful than the activity. There are three disciplines that must be done daily in real estate for success;

1. working on Growth

2. Administration and

3. working On your business.

1. Growth

Growth is the part of the business that brings in the revenue for your business. The more time you spend of your day in growth, the more income you will make. Most Agents work on growth activities at the last minute, when they are running short on funds. The problem is that is too late. To have a steady business income you need a steady approach to growth.

Growth is the prospecting that you do daily. It is the listing appointments that you have for the day. It is the lead follow-up that you are doing on the people who want to buy or sell. It is the meeting with your lender to work on your competitive advantage in the marketplace.

Growth is the critical part to any business. Without growth a business will fail. I know a lot of Agents who are highly skilled in growth and poorly skilled in administration and working on their business, who earn large amounts of money. I know of very few successful Agents who are not highly skilled at growth. You can have huge deficiencies in administration and working on your business but still win the game. You cannot be deficient in growth and win.

2. Administration

There is a huge amount of daily activities that complete with your income stream, such as processing the listing so Agents can find it in the MLS, completing trade record sheets, communicating with your clients on a regular basis, dripping on your clients with emails or paper campaigns, etc.

These activities, done well, will enable you to turn clients into fans who will look for new business for you. You will need one to two hours daily for administration. If you create a good system or purchase good software or have a highly trained and skilled staff, your time spent in this area will be reduced. In the perfect system, administration gets done well, but the Agents spend little personal time on it.

3. On your business

This is the time that most people neglect. This working on your business really separates long-term success and growth from just running faster on the treadmill of life. Long-term financial success lies in this section of your day. The ability to earn more profit is also located here.

We are all really employees of our own little real estate business. We are the ones who bring in the business and make the system go. The more time we plan, read, strategize, practice, role-play, and implement our ideas, the more ownership we gain. Becoming the owner of your real estate business only happens through diligent work on your business. Instead of being the employee who works to draw a salary and pay the bills, why not become the one who orchestrates the company? Be the one who has something to sell when he wants to try something else and/or retire.

What do you think your business would look like in 90 days or even six months if you were to implement an effective daily routine? ……

A dream written down with a date becomes a goal.
A goal broken down becomes a plan.
A plan backed by action makes your dream come true. It’s as simple as that!

Do you want to read more motivation like this: http://www.mississauga4sale.com/Motivation-Success-Ten-Scrolls.htm

I wish you all the best! Mark Argentino mark@mississauga4sale.com

Municipal Tax Sale Properties in GTA, Mississauga and Ontario

2009-06-04T10:09:00.002-04:00

I received a question from a reader and thought I would share my answer with you.

Subject: Question/Your article on taxes

Hello Mark;

I found your web page http://www.mississauga4sale.com/Power-Sales-TAX-Sales.htm and found your article fairly interesting. I am wondering if you could let me know how I can get a list of properties in default of taxes in Ontario/Canada before they appear on MLS? Is there a web site/Government web site that maintains such records? Or do I have to visit each municipality web site or directly call the municipality?

Sincerely
A.

Hi A.,

Thanks for your comments. Yes, you have to do the work.

I do not know of such a list, it's mostly hard work to seek out tax sales, each municipality publishes their own lists, so you have to scour local newspapers to find them.

No government site that I know of, again, it's a municipal sale, so it tends to be very local.

Thank you

Mark

May 2009 GTA and Mississauga resale housing stats report more sales

2009-06-03T09:44:00.002-04:00

GTA May Resale Housing Sales Higher Than Last Year

TORONTO, June 3, 2009 - In May 2009, Greater Toronto REALTORS® reported 9,589 sales, up almost two per cent from May 2008 – the first annual increase since December 2007. The seasonally adjusted annual rate of sales in May was 81,3001.

"The resale housing market in the GTA has remained resilient in the face of challenging times globally," according to TREB President Maureen O’Neill. "Many home buyers have taken advantage of extremely low mortgage rates."

The average price for May transactions was $395,609 – down less than one per cent compared to the same month last year.

"The average resale home price has moved in line with last year’s level because of tighter market conditions experienced this Spring," stated Jason Mercer, TREB’s Senior Manager of Market Analysis. "Home sales have increased strongly relative to new listings, bolstering home prices."

Current Market Observations and what to do with your investment dollars

2009-06-01T04:30:00.002-04:00

These are my personal observations regarding where things may be heading in the next few months.

My observations are this:

Many are saying gasoline will be $1.09 in the summer-this means it will go to at least $1.15 or $1.20

Everyone said 8 months ago we'll be out of recession in 1st QTR 2010 - we will be out of recession in 1st QTR 2010

Many are saying CDN$ will go to parity in a while- this means it will be at or near parity in a few months

We are just leaving the trough of an ugly recession, there is great opportunity for those with vision and big nerve - where to put your spare $$ is a difficult decision

Many are cash rich-they too are looking to invest and double their money

Hindsight is everything- by the time you know where to invest it's too late - so take out the dice and you'll probably be right - or wrong - you have a 50/50 chance

Maybe it's time to buy Magna shares, again you need large nerve and excess cash to possibly lose

No matter what you invest in, pick something where a bank or a broker that does not make most of the money-good luck again

I like real estate for investment, but only on a 5+ year horizon as you are at least guaranteed the tenant will pay it off for you, but that takes plenty of time

In these record low interest times, it's almost idiotic to not do leveraged investing, such as real estate or even in the financial markets

Another thing in my mind is another similar event to 911 as this would give the pundits another reason the pound the financial markets and take out more cash and profits from the marketplace

So, what to do with your spare cash, there sure are many options!
All the best!
Mark

When selling should you list furniture items for sale?

2009-05-31T03:07:00.000-04:00

Some of my sellers want to tell the buyers that they wish to sell furniture in the house when they list their house for sale.

‬‪The issue of the furniture is one we come across from time to time. It is my belief that we sell the house first and then give the buyer an itemized list of furniture etc. with prices and then the buyer can decide what they may or may not want.

Again, a 'normal' buyer most likely would look negatively upon a seller who offers their furniture upfront as this may again indicate desperation, marital problems, lack of funds by the seller or some other negative consequence to your sale or price.‬‪

Sent from my BlackBerry device on the Rogers Wireless Network

When Selling should you tell people you are moving out of town?

2009-05-30T02:08:00.000-04:00

This is a question that I receive from some of my sellers

There are mostly negative aspects of stating you are moving out of town after your closing or out of the province or even worse overseas.

In my experience, it is very negative to mention that you are moving far away on the listing or to even tell the buyer this fact. The buyer would most likely become very nervous knowing you are moving out of the country and would worry about the condition of the unit and removal of any items and how they would possibly remedy any unforeseen problems after the closing date if you left the country. ‬‪ ‬‪

Also, moving out of the country can be interpreted as 'the owner is desperate and must sell" and this could negatively impact your sale price. Thus, I can only see a negative impact on your sale if you mention this anywhere or anytime.‬‪

I hope this helps.‬‪ ‬‪

Thank you,‬‪ Mark‬‪

mortgage rates may be increasing shortly.

2009-05-29T01:51:00.000-04:00

Recent bond market shows that fixed rates might be on rise soon. Thus you
may wish to get a pre-approval to lock the rate.

The followings are the best rates I have recently seen.

5-year variable at P+0.4% (2.65% right now.) This is a new promotion,
available for pre-approval.

3-year fixed at 3.15%, Available for pre-approval (might be lower to 3.05%
when finalized dpending upon variables in transaction)

5-year fixed at 3.41%, not available for pre-approval.

My suggestion: Get a pre-approval for 3 year fixed or 5 year variable right
away.

I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Public Open houses - are they still effective?

2009-05-22T09:45:00.001-04:00

Back in the 80's and 90's Public Open houses in the Mississauga and GTA were a very hot commodity. Agents loved to sit at an open house on a Saturday or Sunday because quite frequently the property would sell from a purchaser who walked into the open house. The odds of selling the property from the open house were about 1 in 20. This has dramatically changed lately.

Open houses are not necessarily the best method to sell a property in our current marketplace. Agents like to do open houses in an attempt to try and pick up a buyer client, and occasionally the property sells from the open house.

Statistics show about 1 in 100 to 1 in 50 properties may sell through open house, but you never know, so they do work sometimes. The reason they are not as effective as they used to be is that most buyers are working with an agent and are being emailed all new listings or the buyer can find all the listings on the internet, so the buyers, just like you with your house search, have most if not all the listings to see already on their computer including address, price, closing date and inclusions. The buyer of today is nearly completely empowered and have most of the information ahead of time compared to the buyers of the 80's.

Of course, you have to see inside a property before you can buy it, but my point is that people often prefer open houses when they are casually looking or far in advance of a purchase or for curiosity, when they are ready to purchase, they call their agent and go see the narrowed down list.

The other reason that agents do open houses is to market themselves and their services to potential listing clients. If you are a potential seller in the area of the open house, you may go to the open house to see the property and meet the agent. When that agent sells the property, you may call them to list your property with them.

These are the facts in our Mississauga real estate market regarding open houses.

Have a great weekend!

Mark

What is the lowest possible interest rates on a 5 year mortgage?

2009-05-21T23:33:00.001-04:00

This is a question that I often receive. Here is the full question and my
answer.
Thanks
Mark

Hello,
What is the lowest possible interest rates on a 5 year mortgage?
Before I go ahead, is there any pointers you might have?
Would you consider giving me a couple pointers?
Thank you for your help.
Susan

Hi Susan,

Thank you for your email. The interest rates that I've seen on the 5 year
rate seem to vary almost daily. The best option for you to is contact my
mortgage contact with TD Canada Trust, they are often the least expensive or
will at least match the least expensive rate on the market.

Normally, I would recommend going short on your mortgage, but the 5 year
rates (and the 3 year rates) are very good these days and almost too hard to
pass up on. This decision is one for you to make as it really depends upon
your personal situation, your ability to withstand the unknown if you go
short term and your ability to withstand and deal with the risks involved
with going short versus long term.\

My mortgage is still short term because there is still some savings between
the prime plus .8% and the fixed rates, but as soon as the prime rates
increase I will likely lock in for the long term.

Please let me know if you have other questions.

Thank you,
Mark

How to become a real estate agent in Ontairo

2009-05-19T07:13:00.001-04:00

I receive many questions about how to become a real estate agent and what
are the courses required and can you take the real estate course online,
etc. I made up a few pages on my site so that this would help people.

Below is a common question that I receive.
Thanks
Mark

Hello,

My name is K and I am interested in becoming a real estate agent. I
wondered if you could help me and let me know the steps you took in order to
get to where you are?

I currently work full-time and wondered if you knew of any correspondent
courses I could take as I would have a conflicting schedule?

Thank you for your time,
K

Here is my answer:

Hello K,

Thank you for contacting me. I am guessing you have read some of the pages
on my site related to becoming a real estate agent, such as:
http://www.mississauga4sale.com/how-to-become-a-real-estate-agent-realtor.htm

Yes, you can take course 1 and 2 online, but not course 3.

You can read all about the courses from the main educator for real estate
and the organization that the governing body that certifies you to become a
Real Estate Agent OREA http://www.orea.com/

I hope this helps. If you need more information, please don't hesitate to
contact me.

Thank you,
Mark

More Interest Rate reductions -just in time for long weekend!

2009-05-15T09:52:00.000-04:00

You will see from the chart below that the 3 and 4 year rates have dropped slightly, just .05% but at least they are going down!

As well, I have a contact with a mortgage broker who is offering 100 % FINANCING WITH 40 YEAR AMORTIZATION IS NOW AVAILABLE, IF YOU NEED IT.....(O.A.C. of course!)

I hope this finds you well.

Have a great long weekend!

Mark

TERM	POSTED	BEST Found RATES*
6 Month	4.75%	4.25%
1 Year	3.90%	2.90%
2 Year	4.05%	3.05%
3 Year	4.15%	3.15%
4 Year	4.84%	3.69%
5 Year	5.25%	3.54%
7 Year	6.60%	4.95%
10 Year	6.70%	5.25%
Variable Rate		2.95%
Prime Rate		2.25%

* Rates may vary and are subject to change without notice OAC.
Rates Last Updated: Thursday, May 14, 2009

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
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Recent Incredible News In GTA Real Estate Market

2009-05-14T10:02:00.000-04:00

Hello,

We've recently received some Incredible News In GTA Real Estate

The average sale price for home and condos sales in the Greater Toronto Area increased approximately 2% in April This is incredible news.

After falling approx 8% in January 2009 compared to last January, we leveled off approx 5% below February and March 2008. Now, we have climbed to a mere 3% below last year's average sale price for April which were some of the strongest numbers ever recorded by TREB.

The volume of sales increased considerably from March 2009 to 8107 sales recorded in April in the GTA.

Interest rates are at a historical low.

In many cases it's cheaper to buy than to rent.

It's a great time for move-up buyers.

It's an excellent time for first time buyers.

Click on the links to the left of this article to Homes For Sale or register for our complimentary Neighbourhood Watch Program which will instantly notify you of new listings that match your home search criteria including Bank and Distress Sales.

You may want to receive a report on what is for sale and what has sold in your area, if so, click on the Area Neighbourhood Watch Reports link and we'll send that off to you promptly.

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Investment Guru explanation - "So you understand"

2009-05-14T01:13:00.000-04:00

more of my investment guru advice and comments, Enjoy, Mark

The markets are still going up.
Or are they?
Look at these:
INTC, MSFT, DELL...
IMMR, IDTI, SKS, M, JWN...
CIEN, ADCT, JBL, EFUT...
sw.to, cls.to...
DRYS, EGLE...
Basically, many are topping,
and some are still going down.
Some never even went up for more than a 20% gain -
off their multi-year bottoms.
Some you can NEVER buy, like NT, GM and ASYT.

For some you're too late,
for others you're not.
However, at this stage it is
too risky.
Now, imagine if they were in a mutual fund.
You would never sell.

In your case I would suggest not to do anything.
Yet.

I wouldn't - and I know how to get in and out during the same day.

You want a clear up or a clear down.
When it is I will let you know.
This is neither.

Basically, at this stage you are too late to buy
and many you can't short yet (because you want them to go down -
and not hold the same level - which many still are).
Just like buying - you don't want to hold the same price forever.

It just looks like another Wall Street setup.
You should ask a financial adviser -
tell them the exact stocks and see what they tell you.
I bet it will be: Buy for the long-term.
Then ask: When do I sell?
For Intel, Microsoft and Dell I can tell you right now:
If you have not yet sold you never will.

Whatever you buy you have to sell.
What if you can't sell?

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?