Single family residential overall sales numbers in Toronto Mississauga and GTA Real Estate Marketplace

This graph shows the number of single family residential sales numbers overall in Toronto Mississauga and GTA Real Estate Marketplace for the entire 2009 year




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

Predictions for Mississauga GTA Real Estate Marketplace in 2010

Hi

So here we are again, at the end of another year, actually the end of a
decade and the beginning of a new year. Every year at this time we can look
back and reflect on what has happened in the past year with certainty. Also
at this time of year this is the time that we try and peer into the future
and predict what will happen with far less certainty. In real estate it's
very critical to try and predict the future because so much is relying on
it.

It takes quite a bit of time to condense my thoughts and observations into
this section of predictions for 2010. Part of the reason is that I want to
be as accurate as possible. As well, I know that many people will read this
page and rely on some of the predictions contained herein. Therefore, I
want to give as good advice as possible, advice that is realistic and yet
insightful.

Real estate is one of the few things in our lives that tends to increase in
value year after year after year. There is no certainty with this increase,
but it sure has seemed certain over the past 15 years. Our year over year
average single family residential price has increased every year since 1985,
except the fall of 2008, including this year. Don't believe me, see the
graph here:
http://www.mississauga4sale.com/TREBavg1995date.htm

There are some, many in fact that are predicting that we in the GTA and
especially BC are sitting at the peak and prices are about to crash. Garth
Turner is one person who is predicting that prices are almost guaranteed to
fall in 2010 I don't agree with him and don't feel that our area,
Mississauga and the GTA will fall in the next year.

What do we know with certainty for the future? We know the following is
almost guaranteed to happen in the Mississauga and GTA real estate
marketplace:

* Interest rates will increase in 2010, the Bank of Canada is
currently stating rates will increase in mid 2010 - this will put downward
pressure on prices after rates increase, but will cause many buyers to buy
before the rates increase and anticipation of the increase in rates
* there will be a shortage of listings for at least January and maybe
into February, this is a near certainty based upon the past 22 years for
January and early February, not many people list their homes at these times
- this will cause upward pressure on prices in the fist quarter of 2010
* HST will come into effect July 1, 2010 and this will increase the
cost when selling your home and to a lesser extent increase the cost to the
buyers, this will put slight downward pressure on prices

This is what we know with less certainty:

* the US real estate recovery seems to be happening
* the US and global economy will improve in 2010
* people may perceive that the HST will causes prices to increase once
it comes into effect and try to save some money before July 1st and this
could cause a mini boom in our market in the late spring of 2010

Due to the fall in late 2008, the average price in 2009 compared to 2008 is
up about 12%. We are up about the same percentage comparing 2007 to 2009
This is what I predicted in January for 2009
http://www.mississauga4sale.com/Toronto-GTA-Real-Estate-Market-Predictions-2
009.htm#2009 When I read the predictions I made back in January for 2009 it
makes me think that maybe I should go into the prediction business, more
than 3/4 of the things I predicted came true! I was wrong on Gold and wrong
on Gasoline prices, otherwise my predictions were quite close.

* These are my predictions for 2010 below and also online at this
link:
http://www.mississauga4sale.com/Toronto-GTA-Real-Estate-Market-Predictions-2
010.htm#2010
* I predict that our prices will increase about 4 to 6% in 2010 with
some softening in our market when the Bank of Canada increases rates in the
middle of 2010, once the Olympics end in the first quarter of 2010 and the
'dreaded' HST comes into affect July 1st of 2010
* Mortgage rates will increase beginning about July of this year, the
bank prime rate as of January 1, 2010 is 0.25% and I predict by year end it
will be at 1.00% to 1.50% This means that current mortgage interest rates
will increase by about 1.25% to 2% over what they currently are. This may
sound excessive, but I firmly believe that our economy will bustle this year
and increased rates will be necessary to calm things down a little, plus the
banks will want to gouge a little in light of increasing prime rates. They
often do this when rates are increasing as they can get away with it with
little backlash.
* I still believe you should go short term on your mortgage, read more
here about why I feel this way:
http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm
* We live in a very vibrant, growth oriented area of North America
with a very diverse economy and culture. People seem to want to work hard
and improve upon their personal and financial situation and almost everyone
I meet is employed and optimistic about the future. This is good for the
local economy and our future.
* No matter what happens, as long as you continue to work hard, save
10% of your gross income, watch what you spend, don't get into too much debt
that you can't handle it should you find yourself with a a job for a few
months, then you should be able to slowly and surely achieve financial
independence.
* The condo market will continue to surge, it's affordable and
desirable
* Bungalow style homes will become more desirable, (they currently are
very desirable), as our population age increases
* Barrel of oil will be $100 at end of year and gasoline will be $1.10
and gold will be $1100 per ounce at end of 2010
* Once again, beware the emotions of
<http://www.mississauga4sale.com/Market-Emotions-Cycle.htm> the marketplace
and stick to your long range goals , currently I believe we are in the
optimism/excitement phase so things may get really hot this spring in the
market.
* I still subscribe to all the values and principles that I've written
about in the past on this page below.
* I am a very optimistic person and always believe that I can do
better by reading and doing things every day that contributes to my long
term goals. I always set high but attainable goals and often come close to
reaching my goals and even if I fall short, I've surpassed what I have done
in the past. I subscribe to many newsletters that preach optimism and
growth and these help me stay sharp and continue to learn. Every day I seem
to learn something new, so at least I'm growing. You can read some of the
ideas that I subscribe to and believe at this page:
http://www.mississauga4sale.com/Motivation-Success-Ten-Scrolls.htm

That's about it for now, keep to your plan invest in real estate for the
long term, you cannot go wrong.

I wish you a very Happy New Year and all the best to you and your family in
2010
Mark

Popeye I'll Gladly Pay you Tuesday for a Hamburger Today!

This is one of those classic moments from the old Popeye cartoons. Often I recall this phrase uttered by Wimpey "I would gladly pay you Tuesday for a Hamburger Today" seems that this is much of what we are about 50 years later! Many people want to buy now and pay later, let's hope that they can handle future payments and keep their budget under control.

All the best!

Mark

Real Estate has helped Canada out of the recession

This is another good summary from REMAX regarding why Canada has rebounded from the recession with such quickness and apparent ease.

Enjoy!
Mark

Amid one of the worst recessions since the Great Depression, the one safe harbour proved to be housing. Not stocks. Not bonds. Real estate.

Why? The answer is really quite simple. Canadians believe in real estate.

Housing has proven itself a resilient and tangible investment that provides both a hedge against inflation and long-term appreciation. Buyers demonstrated their commitment en masse in 2009-taking advantage of rock-bottom interest rates and greater affordability levels-to drive housing sales and/or average prices to new heights. This year's real estate performance has been nothing short of remarkable.

The surge in sales has allowed residential real estate markets to play a key role in leading Canada out of the downturn. It is estimated that a total of $46,400 in ancillary spending are generated by the average housing transaction in Canada. With 465,000 resale homes expected to change hands by year-end 2009, that represents a $21.5 billion boost to the economy-not to mention the countless jobs and tax revenue housing supports. Going forward, the real estate sector is expected to have an even greater impact.

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

• 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 2010 Calendar?

RBC reports Canada at the end of the great recession

RBC reports Canada at the end of the great recession

This is the latest from the RBC on our recession, or at least the end of it. This should come as good news. It's been about 14 months since our market entered the recession

The end of the great recession


Through the ups and downs in the economic numbers, one point is becoming increasingly clear — the great recession of 2008-2009 has come to an end. Most major economies we track have posted at least one positive quarterly growth rate with the lone holdout — the United Kingdom — posting another decline in the third quarter but on course to post a decent-sized gain in the final quarter.

However, the recovery so far has come in on the soft side as the unravelling of financial market leverage continues and economies grapple with high levels of unemployment. The enormous amount of stimulus coming from low interest rates and government spending will support an increase in momentum in 2010 but untillabour market conditions improve, central banks are likely to keep
conditions very accommodative.

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

• 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 2010 Calendar?

Canadian Mortgage Interest rates are still expected to stay low well into 2010

Canadian Mortgage Interest rates are still expected to stay low well into 2010

The interest rates in Canada are expected to stay low at least for the first half of 2010

Bank of Canada expects to increase rates in the second half of 2010

Good news for prime linked mortgages and loans!
Mark


Interest rates “lower for longer”

Our forecast that both Canada and the United States will experience sub-par recoveries means that interest rates will remain relatively low. We forecast that short-term interest rates will start to rise in the second half of next year as central bank rate increases become imminent.

In 2011, our expectation that the Bank of Canada and Fed will kick up the pace of rate increases will see two-year rates move back to their average for this decade.

In the absence of inflation concerns, 10-year rates will also remain low in 2010, however they are forecast to rise in 2011 with the return of above-trend growth and rising inflation rates.

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

• 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 2010 Calendar?

Interest rate announcement and variable rates

Hello, this is an interesting discussion about the current interest rate environment.

The Bank of Canada announced this morning that it will maintain its key policy rate at 0.25 (the rate the determines prime rate), therefore, the prime rate remains unchanged at 2.25%, as expected. They also reiterated their commitment to maintain this rate through to the end of June, 2010 after some previous talk that they may look at raising the rate earlier.

When they do start raising the prime rate at start of the third quarter 2010, they are anticipating a 1.75% hike by the end of 2010 which would set the prime rate at 4.00%, and that is just the beginning as we can expect to see further rate increases throughout 2011.


With the inevitable prime rate hikes just around the corner, locking into a 5 year fixed rate makes more sense then ever. While there are stats indicating that the vast majority of the time, home owners have always come out ahead with a variable rate, we are now in an unprecedented time. That being said, history cannot be and should not be considered when making the decision between fixed and variable.

One thing that is certain, is the direction that rates are heading and the precipitous increases that are expected. While most variable rate mortgages can be converted to a fixed rate at any time without penalty, you may be given posted rates in place of discounted rates, should the switch take place.

If you still think a variable rate is for you, then it is important to check with your mortgage professional to find out what the lenders policy is on this. Secondly, fixed rates are determined by different factors then prime rate, so while we know exactly where the prime rate is headed over the next few years, fixed rates are much harder to predict and may start increasing much sooner, and can do so at any time.


With today's lowest available 5 year fixed being 3.68%, it can be difficult to recommend for anyone go with a variable rate, even if they expect to switch to a fixed before the mid-year increases. If you did plan on switching, you would only be able to reap savings for a few months before switching and the fixed rate they would be locking into will almost certainly be quite a bit higher then what is available to you today.

From Paul Meredith www.citycan.com

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 : mark@mississauga4sale.com
Website : Mississauga4Sale.com

• 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 2010 Calendar?

Last 2 years sales prices and volumes in Toronto Real Estate marketplace

This graph shows the average single family residential sales prices and volumes in Toronto Real Estate marketplace for the past 2 years

Enjoy!

Mark

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

• 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 2010 Calendar?

November 2009 Sales volumes in GTA up compared to last year

Sales of single family homes in the GTA are about double what they were back in November of 2008, a refreshing feeling for anyone selling this fall.

Enjoy!

Mark

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

• 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 2010 Calendar?

Fixtures and chattels Agreement of Purchase and Sale Residential Real Estate

This is another good real estate tip regarding fixtures and chattels for your agreement of purchase and sale.

Enjoy!

Mark

Traditionally buyers get five basic chattels and all the home fixtures when buying residential homes. Lately we have noticed a shift from this trend as sellers now either sell with less or sell with a different set from that with which they staged.

Accordingly we must now pay great attention to what is included or excluded in the chattels and fixtures on the agreement of purchase and sale.

When acting for either party, to ensure clarity of the agreement, it is prudent to not only exclude any fixtures that have been agreed to be excluded but to do so in as much detail as reasonably possible and to also include in as much detail as can be gathered the chattels that are included.

For example using Schedule A of the OREA form of Agreement of Purchase and Sale the chattels and fixtures clause would be phrased as follows:

“Chattels included: The refrigerator in the wet bar being a white Kenmore serial # ______________, the refrigerator in the kitchen being a black Frigidaire serial # ___________, the dishwasher in the kitchen being a black Whirlpool serial #______________, the washer and dryer in the laundry room being stacked white Kenmore series with serial #’s ____________ and _________ respectively and the stove in the kitchen being a black Kenmore serial #_____________.

Fixtures Excluded: the dining room chandelier described as a tear drops crystal glass design, the green Alde shrub outside the master bedroom window aged approximately ___________ , and the glass on the family room fire place”

At first glance this clause may appear overloaded with information but as staging is becoming more and more popular buyers are becoming more wary and prone to assume substations in agreed inclusions. This detailed description gives the buyer comfort that he/she got what was bargained for and the detailed exclusion ensures that the buyer is aware of fixtures that do not form part of the agreement.

Remember to reinforce the golden rule to both parties always:

Fixtures stay unless you exclude them and chattels go unless you include them!

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

• 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?

CMHC on the New Home Market

This is the latest news from CMHC on the New Home Market

Housing Starts Continue to Rise in October

Total housing starts in the Greater Toronto Area (GTA) reached 3,606 in October, the highest level so far this year. Despite the rise in October, year-to-date housing starts are off 42 per cent compared to the same period last year.

Housing starts spiked in 2008 thanks to strong demand for condominium apartments in the 2005- 2007 period, which dampens annual growth comparisons for total starts this year.

Semi-detached homes have proved most resilient in 2009, with year-to-date starts down by a much more moderate 14 per cent.

Housing starts have risen for the third consecutive month in the GTA.

Gains in the apartment segment – both condominium and rental – have led the increase in recent months.

Rental apartment starts this year are nearly twice the level reached in 2008. On the condominium side, improving economic and credit market conditions are beginning to help larger projects get off the ground.

Strong sales levels in the new home market over the past few months will add momentum to housing starts in the GTA going forward.

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

• 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 Residential Real Estate Tip

This is another residential real estate tip that I'm sure you will find interesting

Enjoy!
Mark


Most clients are not aware of the reach of the Planning Act and as sellers only find out when the realtor explains the effect of the Planning Act clause of the OREA agreement of purchase and sale to them.

The OREA form of agreement of purchase and sale contains a standard Planning Act clause that provides for the seller’s compliance with Planning Act control. What that clause omits is the need for the buyer to comply in order to complete the transaction.

The effect is that a buyer may contemplate the purchase of a property that will result in non-compliance on the part of the buyer without the buyer even realizing this at the time of executing the agreement of purchase and sale.

As the deal will not be conditional on the buyer complying with the Planning Act the question then becomes does the buyer close and breach Planning Act or does the buyer breach the agreement and refuse to close?

Neither of these answers is very favourable to the buyer. The best avenue would be for the buyer to spend the money, get an extension, where possible and necessary, cure the Planning Act issue, and then close the deal.

Perhaps the easiest way to avoid this contractual nightmare would be to amend the Planning Act clause of the OREA form agreement of purchase and sale to include the words “or Buyer, where applicable”, everywhere Seller appears.

I hope you find our hints helpful!

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

• 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?

Residential Real Estate Tips

Hello

This is another great tip that I thought you may be interested in reading about

Enjoy!

Mark

In residential real estate matters we often find the sellers having to deal with buyers who enter into an offer and use the conditional clauses to back out even where the buyer never sought to fulfill the condition.

This of course leads to delay in the seller’s ability to dispose of the property and may cause the seller some monetary loss.

One way to avoid this scenario is to phrase the conditions in such a way that the buyer needs to show evidence of the non-fulfillment of the condition or waiver of same by a certain date otherwise the agreement will be considered firm and binding as of that date.

Needless to say buyers will not be happy with such clauses but at least the seller can then decide if he/she/they would risk the deal by insisting on that wording.

I hope you find our hints helpful!

from Burhana Bello-Ayorinde

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

• 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?

Lowest Inventory of Townhomes in Erin Mills in 22 years!

There is a real lack of inventory out in our marketplace. In 22 years in real estate, all working and living in Erin Mills I've never seen so few townhouse listings in the area.

In the Thomas and Glen Erin areas, "normally", there are about 15 to 25 townhomes to choose from, currently there are only 3!

In the Churchill Meadows area, typically there are about 20 to 30 townhomes for sale, currently there are 10!

Talk about low inventories. I realize this time of year people tend to not put their properties on the market, but this is the lowest I have ever seen.

Should be very interesting to see what happens in January as we head into the winter market.

See townhomes in Erin Mills and Churchill Meadows at this page: http://www.mississauga4sale.com/Mississauga-Townhomes-Townhouse-Complexes.htm

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

• 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?

Bank of Canada maintains interest rates Reiterates commitment to hold until end of second quarter of 2010

These are the latest trends, analysis and discussion about interest rates
from CREA

Enjoy!
Mark

Bank of Canada maintains interest rates

Reiterates commitment to hold until end of second quarter of 2010

The Bank of Canada held its benchmark overnight lending rate steady at 0.25
per cent at its setting on October 20th, 2009. The trend-setting Bank rate,
which is set 0.25 percentage points above the overnight lending rate,
remains at 0.5 per cent.

The Bank acknowledged that recent indicators point to the start of a global
recovery, and that economic and financial developments have turned more
favourable than it had previously expected. While recognizing that the
Canadian economy is rebounding, it expects the recovery to be weak by
historical standards.

The Bank downgraded its forecast for Canadian economic growth this year,
while keeping its forecast unchanged for 2010. It also lowered its forecast
for economic growth in 2011.

In its September announcement to hold interest rates steady, the Bank
forecast that inflation would return to its two per cent target in the
second quarter of 2011. The Bank has now moved that date out to the third
quarter of 2011.

The Bank's commitment to keep interest rates on hold until the second half
of next year is conditional on the outlook for inflation. Since inflation is
not expected to pick up sooner than it previously expected, the Bank
repeated its commitment to keep interest rates on hold. "Conditional on the
outlook for inflation, the target overnight rate can be expected to remain
at its current level until the end of the second quarter of 2010 in order to
achieve the inflation target."

The Bank pointed to the rapid rise in the Canadian dollar in recent weeks as
a risk to the Canadian economic recovery, saying "Heightened volatility and
persistent strength in the Canadian dollar are working to slow growth and
subdue inflation pressures." The Bank now expects that the domestic economy
will be a greater source for economic growth, at the expense of weaker net
exports.

The Bank expects the output gap to close in the third quarter of 2011, one
quarter later than it had projected in July when it said production would
reach capacity in mid-2011.

"The Bank threw cold water on recent speculation that it may raise interest
sooner rather than later," said CREA Chief Economist Gregory Klump. "By
highlighting the recent rapid rise in the Canadian dollar while
intentionally failing to mention the rebound in the Canadian housing market
as sources for concern, the Bank aimed to end recent speculation that it
will hike rates before its repeated pledge of not doing so until at least
July 2010."

As of October 20th, the advertised five-year conventional mortgage rate
stood at 5.84 per cent. This is down 1.36 per cent from one year earlier,
but stands 0.35 per cent above where it stood when the Bank made its
previous interest rate announcement on September 10th.

Improving credit market conditions have enabled lenders to reintroduce
discounts off posted mortgage interest rates. Discounts of up to a
percentage point can be negotiated, depending on lender-client relationship.

(CREA 10/20/2009)

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

Current Trends in the economy many sectors improving

RBC is reporting the economy and current trends are that sales are up in many sectors

Current trends…

Economy stumbles for second month in a row

p GDP output slid by 0.1% in August, defying expectations for a move into the plus column. Slumping manufacturing, wholesale trade and oil and gas activity weighed down output in the month.

p The economy pared back the number of employed by 43,200 in October — the first decline in employment in three months. However, because of job gains in August and September, there was a net gain of 14,500 positions during the three-month period.

p Retail sales recorded a second monthly increase of 1% in September; sales were up an even stronger 1.2% on a volumes basis following a 0.5% rise in volumes in August. This augurs well for a positive GDP report for September.

p Housing starts rose 5.4% in October to an annualized level of 157,300 . The rise re-established the upward trend that had prevailed through August, with starts steadily rising from a cyclical trough in April of 118,500.

p The merchandise trade deficit was cut in half in September to C$0.9 billion from C$2 billion in August. The improvement was almost solely the result of a 3.5% jump in exports; imports were relatively steady, dropping a marginal 0.1%.

p The headline inflation rate emerged from a four-month period of negative readings in October as the deflationary pressures coming from movements in the energy component of the CPI dissipated.

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

• 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?

RBC latest report Economy has turned the corner

RBC reports that we have turned the corner and are out of the recession.

This will come as good news to most, let's hope it continues!

All the best,
Mark

The turning point

The tide has turned for the global economy with U.S. real GDP posting a stronger-than-expected increase and China recording a breathtaking 8.9% jump in output, both in the third-quarter. Canada, the United Kingdom and the Eurozone have yet to produce clear indications that their economies are out of recession, but conditions are improving and we expect reports of positive growth soon.

United States bounds out of recession

· The U.S. economy grew at a 3.5% annualized pace in the third quarter backed by a rebound in consumer spending and surging residential investment, which ended 14 consecutive quarters of decline.

· Early reports on fourth-quarter activity point to another increase in output, with the ISM manufacturing index driving solidly into expansionary territory in October and housing indicators pointing to firming sales against a shrinking inventory overhang.

· However, consumer confidence reports showed that households became less optimistic early in the fourth quarter, thus raising alarm bells that they could retreat again.

· Emerging from the deepest recession since the Great Depression, the U.S. economy remains fraught with uncertainty about the health of the financial system and pockets of weakness outside of housing.

· Real U.S. GDP is forecast to expand by just 2.5% in 2010, a modest recovery by historical standards, and then to pick up pace, growing by 3.4% in 2011.

· Our forecast is that the first rate increase will come late next year with the funds target ending 2010 at 75 basis points and then rising to 2.75% by year-end 2011.

A mixed bag of Canadian data

· Unlike the United States where the data point to the end of recession, Canada’s numbers are less clear-cut. The economy shrank by 0.1% in August after posting no growth in July. We think that the economy will skate back into positive territory in September, but the risks are that the rebound will fall short of the consensus forecast for a 2% annualized gain. Our reckoning is that on an expenditure basis, real GDP growth was 0.5% to 1% at an annual rate in the third quarter.

· We expect economic momentum to build, spurred by a strengthening U.S. economy, low interest rates and a steady influx of government spending. We forecast that the economy will grow by 2.6% in 2010 with the unemployment rate peaking early in the year and then drifting lower.

· Against a backdrop of firming global growth and rising commodity prices, Canada’s economy will pick up pace with real GDP growth of 3.9% in 2011even as both fiscal and monetary policy stimulus starts to dissipate as long as credit conditions continue to improve.

· For the Bank of Canada, the road to the normalization of interest rates will be long. Our forecast is that the Bank will boost the overnight rate to 1.25% by the end of 2010 with further increases in 2011, yielding a policy rate of 3.5% by year-end.

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

• 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?

Number of Active listings is down

The fact that the Number of Active listings is down puts pressure on the market and prices strictly from a supply and demand point of view, less listings, more interest and prices go up. This is what we have experienced in the past few months. Notice the number of active listings was high from about October 2008 to March 2009 and we did experience a softening of prices during the same period.


Thanks!


Mark

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

• 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?

I hit the SELL Button last Friday, and I'm elated!

Last Friday, November 6 2009 I hit the 'sell' button. Not on our real estate holdings but on our RSP's and RESP's After the 'financial crisis' and market meltdown in the stock markets last September 2008 our RESP's and RSP's plummeted (as did most people) who were exposed to the stock market because their RSP's and RESP's were made up primarily of stocks.

Our entire stock portfolio dropped about 40% from a high in September of 2008 to a low in about April of 2009 I made a promise to my wife that when our RESP's and RSP's were back to or even close to or near pre-September highs, I would hit the sell signal.

I had set an arbitrary figure that if they reached that figure, we would sell. That figure was about 20% higher than our total contributions over the past 20 years or so in RESP's and RSP's, pretty sad return indeed in my opinion.

For anyone following the stock market's of late, the TSX and the DJIA are almost back to the high's of September, about 10% or so off the absolute high reached in late September 2009.

I set a fictitious figure that I would sell at and be comfortable and that figure "arrived" last Friday November 6, 2009. I called my financial planner Friday morning and said, "today is the day" and I called it ''freedom day', and sent in the sell signal.

The reason that I pulled all our RSP's and RESP's out of market linked mutual funds was because I was actually losing sleep over the ups and downs of the financial markets. Crazy isn't it?! I'm not fully retiring for about 14 years and probably won't need to use one cent of our RSP's for about 19 years from today, when I'm 70. That's plenty of time for the stock markets to rise back to historic high levels and likely surpass today's levels by 20 to 50 to 100% or more over the next 19 years. But, I just can't stomach the ups and downs of the financial and stock market's anymore.

We will begin withdrawing some of the RESP's beginning in about September of 2011 when our son begins university. These funds we just don't want to "gamble" with anymore. As you may know with RESP's in Canada, for every dollar we contribute the Federal Government contributes 20% It's almost a no brainer and a 20% return is guaranteed (almost). So for every thousand dollars we contributed that $1000 you would think in our RESP's would be worth $1000 plus 20% or $1200 plus the rise in the markets over the last 10 years or so which would make it about $1500 Not even close. We invested our RESP's into mostly US and global funds and we're sitting at about a total overall 10% increase over our personal contributions. Bleak, very bleak. Crappy investments, crappy market returns, crappy funds and crappy investment advice. Heck, if we only put the RESP's into GIC's over the same 10 to 15 years, every $1000 would be worth about $2000 today. But I was not wanting to be a wimp or a weak investor or a conservative investor because we had time on our side and I put it all of it into the markets to get that expected 10 to 15% per year. Again, not even close.

Hindsigh is 20/20 with everything, but with our RESP's we really blew it. If we were a conservative investor and only put them in GIC's we would have more than doubled our money. As of last Friday, when I cashed the RESP's we're up about 20%, not bad if you don't take into consideration the government 20% contributions, at least not a loss, but certainly not great.
You must be joking, that is crap, really crap, not a single % increase over 19 years of contributing, absolutely brutal when you think of it like that.

Financial planners and financial planners all say, that's good for the short term and besides, investing in the markets is a long term solution and you have to be aware and ready for sharp increases and decreases in your portfolio. What a crock. I'm done with that crap.

For example, with the RESP's Had we taken the same $1000 19 years ago when we began the RESP's or even 10 years ago and invested it in real estate, that same $1000 would be at least $2500 or $3000. It would have been leveraged investing and if we took, say $10,000 RESP and bought a $200,000 townhouse with it in 1999, that same townhouse would be worth about $275,000 today, so the initial $10,000 would have gone up by about $75,000 - significantly better than inside the RESP plan don't you think?

This same analysis can be found with our RSP's It's very depressing to think that we contributed all those funds over all those years and now it's not worth much more than 10 or 20% over all the contributions during the same period of time. Again, had we bought real estate 10 years ago with our RSP contributions rather than piled it into the markets we'd be up at least 200 to 300% because of the increase in real estate over the same period and the fact that it was leveraged investing.

Again, the pundits and financial planners will say that the RSP's gave a tax refund every year. That's true, but for self employed people like me, that only means we pay less tax in April, we don't get refunds. Regardless, for every $10000 I would have contributed in RSP's over the past 10 years, I would pay about $3500 less tax so for round figures contributions of 100k over the past 10 years contributions of $10,000 per year, that netted us $35000 in less tax paid, but I did not invest that 35000 that I gained, I just didn't have to pay it, and it got absorbed into our finances and spending.

Again, had I taken that $10,000 per year in RSP's contributions over the past 10 years and contributed it towards, for example, two townhomes, one townhouse purchase in year 3 (after 3 years of 10k per year equaling 30k in RSP's savings) which would have been 7 years ago or 2002 and another after 6 years of contributions, ( again, another 30k after 3 years of savings), that would have been a second purchase of a townhouse in 2005, the increase in value is absolutely astounding. The first townhouse purchase in 2002 would have cost us about 210,000 ( I just checked and that's what townhomes were selling for, for example, at 5305 Glen Erin Drive during 2002) and it would sell for about 275000 today, a gain of about 60,000 and the second purchase at, say the same complex, would have cost about $245000 in 2005 and selling
today, our gain would have been about $30000 so our total gain of our two investments totaling $60,000 investment would have been $90,000 (60,000+30,000) or about 1.5 times the initial value investment or 150% return, plus we would have the $40,000 in cash for the last 4 years that we did not invest and saved to buy a third townhouse.

Now, and here is the real kicker to why buying real estate is a great investment, during the 6 years that we owned the first townhouse and the 4 years we owned the second townhouse in the analysis above, the tenant helped pay off our mortgages in the amounts of about 40,000 for the first townhouse and 20,000 in the second townhouse. So our equity position increased by about 60,000 for a grand total increase to about $250,000 versus the $150,000 in the stock market RESP's This is the truth what people and financial planners don't tell you.

To summarize the analysis in the paragraph above:

- for the RSP option, over the same 10 year period of investing the same $10k per year for a total of $100,000 plus $30,000 less tax paid, plus a gain of $20,000 we would have a grand total of $150,000

- over the past 10 years we invested $60,000 with a net gain of $90,000 plus the $40,000 we continued to save from year 6 to 10 plus the $60k in equity increase we would have a grand total of $250,000

The above analysis is 'real life' no BS, just the facts.

The downside to real estate investing is that there would have been tenants to deal with and maintenance and other issues, but this analysis is very real and very accurate. Some of my clients will say, just buy REIT's and get the best of both worlds, how many of you did that?

Now, back to the RESP's and RSP's that I sold last Friday, the main reason I did it was to be able to sleep at night and to stop having to listen every hour to 680 for financial market updates etc. and reduce my stress level.

The other reason I had the nerve to do it was that I finally found a solution of where to put our investments. RBC has a market linked GIC where the initial contribution is guaranteed and the teturn is equal to 40% of the value that the TSX 60 index increases over the same period. RBC get's 60% of the gain (big surprise! LOL). So, if the TSX 60 index increases 100% over the next 10 years then our RSP increased 40% At least we can't lose any more than our initial investment and I can now sleep!

This was a very long post, but I wanted you to get a general idea of our thinking and why we sold our RSP's and RESP's and got out of the stock markets with our retirement funds. This may only be a temporary solution while we live in such turmoil and I may go back into the market's with our RSP's in the future, but this is what we are doing now.

As an aside, we've opened up an account at TD/CT that will allow our future RSP's to be in mortgages, we will give this a try and see how it goes, just another option that many don't know exists.

My plan is now to contribute future RSP's to bond funds and save enough every year to purchase a townhouse and hold for 10 years until retirement.

Only time will tell!

I wish you all the best!
Mark

Average single family residential home prices increase for past decade

This graph illustrates the average single family residential prices in the GTA over the past 10 years. There has been a clear trend for the past decade that prices have increased every year.
Enjoy
Mark

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

• 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?

CRA and Moving expenses

I hope that you find that this article is interesting and will give you some insight into some of the items to consider when moving. This will also give you some of the expenses that are deductible.

This is another in a series of articles meant to help and educate you with regards to real estate.

It’s important to know that not all moves will qualify for such tax relief. The tax rules provide that, where a taxpayer moves to be at least 40 kilometers closer to his or her place or work (for example, a taxpayer who moves from Toronto to take a job in Regina), most moving costs will be deductible from employment or business income earned at the new location. The 40- kilometer distance is measured using the shortest route normally available to the traveling public, which inmost cases would mean the distance by road. Also,moving to be closer to work doesn't have to mean moving to a new company; a job transfer to another city while continuing to work for the same employer will qualify, assuming the 40- kilometer criterion is met.

Spring is typically the busiest season for real estate sales and, consequently, the time when most moves take place. Selling one’s home and moving qualifies as one of life’s more stressful experiences, but it’s an experience that most families will go through at least once. In addition to the upheaval of leaving behind a home, a school, and a neighbourhood, the financial outlay associated with moving can be considerable. While our tax system can’t do anything to help with the non-financial costs of moving, it does, in some circumstances, minimize the financial hit by providing a deduction from income for moving expenses incurred

The list of expenses that may be deducted is fairly comprehensive, but not all moving related costs are deductible. Under the Canada Revenue Agency' administrative policies, as outlined in its Form T1-M, Moving Expenses Deduction (available on the

CRA Web site at http://www.craarc.

gc.ca/E/pbg/tf/t1-m/t1-m-08e.pdf), the

following are considered eligible moving expenses:

• traveling expenses, including vehicle expenses,meals, and accommodation, to move the tax payer and members of his or her family to their new residence (note that not all members of the household have to travel together or at the same time);

• transportation and storage costs (such as packing,hauling, in-transit storage, and insurance) for household effects, including items such as boat sand trailers;• costs for up to 15 days for meals and temporary accommodation near either the old or the new residence for the members of the household;• lease-cancellation charges (but not rent) on the old residence;• legal fees incurred for the purchase of the new residence, together with any taxes paid for the transfer or registration of title to the new residence;• the cost of selling the old residence, including advertising, notarial or legal fees, real estate commissions, and any mortgage penalties paid when a mortgage is paid off before maturity; and• the cost of changing an address on legal documents, replacing driving licenses and noncommercial vehicle permits (except insurance), and utility hook-ups and disconnections.It sometimes happens, especially where, as is now the case, the real estate market is slow, that a move to the new home has to take place before the old residence is sold. In such circumstances, the taxpayer is entitled to deduct up to $5,000 in costs incurred related to the maintenance of that residence while it is vacant and efforts are being made to sell it. Specifically, costs including interest, property taxes, insurance premiums, and heat and utility expenses paid in relation to that residence may be deducted.It may seem from the foregoing that virtually all moving-related costs will be deductible; however,there are some costs that the CRA will not allow to

be deducted, as follows:

• expenses for work done to make the old residence more saleable (i.e., home-staging costs, furniture or art rental charges, cleaning costs, etc.); deduct them from income earned in subsequent years.• any loss incurred on the sale of the old residence;• expenses for job- or house-hunting trips to another city (for example, costs to travel to job interviews or meet with real estate agents);• expenses incurred to clean or repair a rental residence to meet the landlord’s standards;• costs to replace such personal-use items as drapery and carpets; and• mail-forwarding costs.To claim a deduction for any eligible costs incurred,supporting receipts must be obtained. While the receipts do not have to be filed with the return on which the related deduction is claimed, they must be kept in case the CRA wants to review them .Anyone who has ever moved knows that there are an endless number of details to be dealt with. In some cases, the administrative burden of claiming moving-related expenses can be minimized by choosing to claim a standardized amount for certain types of expenses. Specifically, the CRA allows taxpayers to claim a fixed amount, without the need

for detailed receipts, for travel and meal expenses

related to a move. Using that standardized, or flat rate,

method, taxpayers may claim up to $17 per meal, to a maximum of $51 per day, for each person in the household. Similarly, the taxpayer can claim set per-kilometer amount for kilometers driven in connection with the move. The per-kilometer amount ranges from 49.5 cents for Saskatchewan to 66 cents for the Yukon Territory. In all cases, it is the province or territory in which the travel begins that determines the applicable rate. These rates were in effect for the 2008 taxation year – the CRA will be posting the rates for 2009 on its Website early in 2010, in time for the tax-filing season.



Any moving-related expenses can be deducted from employment or self-employment income (but not investment income or employment insurance benefits) earned at the new location. Where a move takes place late in the year, it’s possible, especially where the move is a long-distance one, that such expenses will exceed income earned at the new location during the calendar year. In such cases, it's possible to carry forward the excess expenses and deduct them from income earned in subsequent years. Generally, these rules apply to moves made from one location to another within Canada. While it’s possible to deduct expenses arising from moves

from Canada to another country, from another

country to Canada, or between two locations outside of Canada, the rules governing deduction sin such situations are far more restrictive.

The rules governing the deduction of moving expenses are outlined in some detail on the CRA’sT1-M form, and any questions not answered by that form can be directed to the CRA’s individual enquiries line at 1-800-959-8281.

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

• 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?

Residential real estate Tips for the week

This is a good tip from a lawyer, Bello Lagoudis

He states:

When acting on a residential property being used as a multiple family dwelling always insist on a buyer condition regarding the retrofit status of such property. This includes tenanted basements as buyers are depending more and more on this source of income generation, cities and towns are getting tougher on violators, and lenders are increasingly insisting on retrofit status.

Should the seller refuse the condition it would at least alert the buyer that the property is, in all likelihood, zoned for single family use.

I hope you find our hints helpful!

Please feel free to email any question you may have on residential real estate,

Mark

How can Fixed rate mortgages increase when variable rate drop?

Hello

This was a great article that I received and thought I would pass along to you. It discusses why the short and fixed rates can be going in opposite directions at the same time.

Intuitively, this does not make sense, but once you read the article below, you will understand.

If you don't know whether to go long or short term, read this article:

http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm

All the best,

Mark

How can fixed mortgage rates be going up when variable rate is coming down?
And how do you choose whether to go short or long term on your mortgage when it comes up for renewal?


Now just imagine the family dinner conversation where your brother or sister declares utter confusion at how the prime rate could drop on the same day that rates went up for fixed mortgages. This just doesn't make sense... or does it? Let's clarify how fixed-rate and variable-rate mortgages are priced and you'll see the difference.


Variable rates are tied to your bank's prime rate, which is based directly on the Bank of Canada rate. The Bank of Canada is our central bank, operating at arm's length from the federal government. The central bank uses its rate as a tool to achieve the goals of "Low and stable inflation, a safe and secure currency, financial stability, and the efficient management of government funds and public debt." Our central bank sets the trend for short-term interest rates and has a direct impact on short-term rates for mortgages and lines of credit, as well as rates paid on deposits and investment certificates.


Fixed-term rates, such as long-term mortgage rates, by contrast, are based on the bond market. Generally, a bond is a debt with a promise to repay the principal of that debt, along with interest. Bonds are issued by governments and large businesses. We've all heard of Canada Savings Bonds, right? And they are just one type of bond. The "yield" of the bond is the annual rate of return, expressed as a percentage. Bond yields can be volatile and fluctuate in response to various political and economic factors, such as inflation and unemployment figures, and developments in the stock markets. They are increasingly affected by global forces.

Long-term mortgage rates (3 years and longer) are based on bond yields, but are less volatile because financial institutions absorb the daily market fluctuations in order to create a more stable rate environment for their customers. Generally speaking, higher bond yields increase funding costs for banks, which in turn leads to increased long-term fixed rates.

Conversely, lower bond yields lower banks' funding costs and lead to lower long-term mortgage rates.

So, short-term rates move with the Bank of Canada's needs, while longer-term rates are tied to the bond market. The Bank of Canada can influence long-term rates, but it has no direct control over them. This difference in how rates are set is the reason we sometimes see short-term and long-term rates moving in unison, while at other times they diverge.


If it seems difficult to choose between a fixed and variable or long and short mortgage, you don't necessarily have to choose. Perhaps the easiest and best solution is to break your mortgage into pieces and diversify your borrowing across short and long terms. This is mortgage "laddering," a concept Canadians know and use to stagger their GIC maturities for diversification, but which surprisingly few of us use for our mortgages.

Diversification is an important principal that applies as much for borrowing as it does for investing. By blending different types of mortgages and staggering maturities, you can diversify your interest rate risk, and perhaps minimize your interest costs.

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

• 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?

bank of Canada hold the line on the current interest rates

The Bank of Canada continues to say they will hold the line on the current interest rates. Thsi is very good news for buyers and investors, real estate should continue to do well in this climate of low interest rates.

Entire press release is below

All the best,
Mark

Bank of Canada repeats pledge on rates

OTTAWA (Reuters) - The Bank of Canada repeated on Tuesday a conditional pledge to keep interest rates steady through mid-2010, saying the Canadian dollar's strength would more than fully offset favorable developments since July.

Governor Mark Carney, in opening remarks to the House of Commons finance committee, said recent indicators point to the start of a global recovery and that a recovery is under way in Canada following three consecutive quarters of sharp contraction.

He also repeated that the central bank has "considerable flexibility in the conduct of monetary policy at low interest rates," language that means that the bank could, if necessary, engage in quantitative easing, essentially printing money.


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

Matrimonial Separations and selling Real Estate for residential transactions

The information below was forwarded to me and I thought you may find it of interest.

Thank you,

Mark

When acting for separating spouses on the sale of a matrimonial home where only one of the spouses is on title be sure to confirm the status of the marriage before the agreement is executed.

In the event the spouses have been living separately before the agreement, and a formally executed Separation Agreement is not in place, the consenting spouse (i.e. the non-titled spouse) must sign the consent clause. This is because he/she still retains a right in the property as it was a matrimonial home.

By ensuring that the spouse signs consent you potentially eliminate contention or backlash from unresolved family law matters to the real estate transaction.

Generally speaking always remember to ask if your client has a spouse who will be consenting to the agreement as supposedly “happy” families have been known to contend a sale on the grounds of non-execution of the consent clause.

The OREA form of Agreement of Purchase and Sale contains the Family Law Act Warranty. Once you become aware that consent is required remember to have the Spousal Consent section at the end of the agreement executed by the spouse before an eligible witness.

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

• 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?

What is best? The stock market versus real estate investing

Hello,

The bull market has been running up the high Dow Jones and TSX and other markets for some time now and many people feel they need some pessimism in order to cool it down a little since the rise in the markets was too high and over a short period of time too fast for most of the market to absorb the huge influx of money.

Maybe it's time to sell your stocks or mutual funds and sit on the sidelines for a while.

Only time will tell.

I continue to feel that real estate is a very good long term leveraged investment, tenant pays off the property, you get a tax write off.

Here is a good "real life" example of how you can be financially secure when you are 60 years old.

Imagine you bought just one townhouse investment property when you were 40 years old for $250,000

You put $25,000 downpayment and your mortgage and tax payments were $1500 per month for 20 years and the rent payments were $1400 per month for 20 years

It may cost you $100 per month out of your pocket plus another $100 per month for regular maintenance and incidentals, thus $200 per month or $2400 per year but you got $1000 of that back on your taxes so it really cost you $1400 per year or $28,000 over the 20 years and ...

Imagine you are now 60 years old and you say, honey, we need some money to travel and buy things for our children and ourselves and enjoy life since we are now 60 and you sell that investment property for at the least $300,000

Your adjusted cost base, (your total cost of your investment property) is initial cost plus additions which is about $284,000 (250000+28000+4000 land transfer tax and legal fees to buy and sell it) less costs when you sell equals a capital gain of $16000 which you would pay about $2000 income tax so now you have $288,000 EXTRA cash to spend on you and your family for 20 years of owning that investment property, piece of cake!

This is assuming that the property value increases only 20% over 20 years. If history repeats itself, then the property should at least double if not triple in value in 20 years, but let's be super-conservative with our estimates and say it doubles, even with capital gains tax on half the profit you would still end up with about $455,000 (250000+250000 less about $45000 capital gains tax)

Now, and here is the kicker, if you bought two properties at 40 and did the same thing you would end up with $910,000 in your bank account at age 60

Almost $1MILLION

It does not matter how much inflation we have over the period from now until 20 years from now, $910,000 in your bank account is still almost a million dollars no matter how you look at it

If I had $910,000 today versus $910,000 back in 1989 I would still have a heck of a pile of money and freedom to do the things I want to do, inflation or not.

1989 was not that long ago, so 2029 is not as far in the future as it seems, it will be here for you sooner than you think and if you don't start doing something about it now, you won't have the $910,000 in your bank account or anything for that matter in 20 years from now

You must take some action, get off your butt and do something about it today. Beg or borrow that $25,000 today, buy that townhouse today for $250,000 and sit on it for a measly 20 years, only 240 months and you are done. If you can do it and surely if you can purchase two investment properties now, you'll be set for the balance of your life

I'll even make it easier for you, buy one or two properties as I have outlined above and then let me manage them for you for a small fee and you can literally sit back and enjoy the benefits of your long term investment without lifting a finger for the next 20 years. Want to know more about property management?

Sound like a plan for you? Then let's just do it!

http://www.mississauga4sale.com/property_management.htm

I wish you All the Best to you and your family!
Mark

Rental Properties in Mississauga and the GTA

I was asked:

Hi there,

Do you update your rental list regularly on your website? I have been back many times to check but everything listed says it is already rented. Please advise how often this is updated so that I know when to check

Thanks

L.

Hi L.

Yes, I update it all the time. You must be going to an older page.

You need to browse to this page http://www.mississauga4sale.com/listings.htm and near the bottom are the rentals

or you can click the link near the top that says

Are you looking for Rental Listings?

and this will automatically take you to the bottom of the page referenced at

http://www.mississauga4sale.com/listings.htm#rentals

I hope this helps.

What are you looking for, I have 4 rental properties right now available

Thank you,
Mark

Leasing and new to the country, how can you secure a tenancy?

I have many requests for rental properties from people who are new to the country. They are new immigrants and want to lease for one year, and people ask me how I would handle this because they have no Canadian credit check (none), employment (none), but they have enough money to rent for the next for year

My answer is in these cases tell these people that they will probably have to put up first and maybe last 3 or 4 months upfront to secure a rental

I've had some pay for the entire year upfront

You could also have a Guarantor , someone who lives here now

Hope this helps
Mark

Mississauga perspective on Real Estate Finance and Mortgages

This was an interesting article about mortgages and real estate financing,
Enjoy! Mark

Subject: Mortgage and Real Estate Finance

I enclose details of our report on mortgage and real estate financing.

US Mortgages, the largest fixed income market in the world, have recently
turned into the latest distressed sector, in the midst of declining house
prices, deteriorating fundamentals, and limited liquidity.

Understanding the nature of this complex structured market, and appreciating
its subtleties, is a prerequisite for taking advantage of the current
dislocation, while avoiding its pitfalls.

Although the difficult environment is likely to continue, everyone who has
been in the market through its gyrations knows that times of trouble can
often spell opportunity for the smart investor.

There are Mortgage and Real Estate Finance books on the market that can give
you an in-depth overview of both the primary and secondary mortgage market.

They will provide a much-needed analysis of the latest innovations in the
market, and serve as a crucial guide to taking advantage of the current
environment.

These books cover areas such as:

- History of the Market from the Great Depression till today
- Loan Origination and Underwriting
- Structures used in Securitisation and Arbitrage
- Agency Mortgage Market and CMOs
- Alt-A and Sub-prime Market
- Non-traditional Mortgage Products
- Real Estate Indexes and Trading
- Modelling of Prepayments and Credit
- New Resources for Mortgage Analytics
- Risk Management of Mortgage Securities
- Investing and Opportunities in Mortgages
- Rating Agencies' Perspective
- Servicing in a Distressed Environment
- Regulatory and Policy Issues

If you want more information on this or other books like this, please send
me an email.

Thank you,
Mark

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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RBC feels our economy is on the rebound

This is another good news story from one of the major banks in Canada. RBC feels that our economy is on the rebound and should be moving at a very good pace in the next few quarters.

This is good news for a change!

Enjoy!
Mark

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

• 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?

Canada’s economy set for rebound

Special factors took the steam out of Canada’s GDP in July, but the stage is set for a decent rise in August. The special factors limiting July’s output were the tepid rebound in motor vehicles and parts output, temporary closures in the mining sector, unseasonably cool weather that cut into utilities output and a strike by municipal workers.

In 2010, we forecast growth of 2.6% with consumer spending growing by 2%. While Canadian household balance sheets are sounder than in the United States, the sharp drop in asset values and continued debt growth during the recession produced a rise in the debt-to-asset ratio and contributed to debt as a percentage of disposable income hitting an all-time high. Rising financial asset prices and a rebound in real estate values suggest that these ratios headed back down in the third quarter but will still limit spending growth in the near-term.

Another solid gain in manufacturing sales combined with a return to more normal conditions in other industries will provide support to August GDP and will be sufficient to see Canada’s economy record a modest increase in the third quarter.

The Bank of Canada has made a "conditional commitment" of a 1/4 per cent overnight rate "at least through the end of June of next year". In a recent speech, Governor Carney reiterated that this commitment was conditional on the performance of inflation relative to the Bank’s target. Based on our economic

forecast, we expect that the Bank will follow the prescribed policy route, with 50 basis point hikes likely in both the third and fourth quarters of next year.

Dow Jones Closed at highest level in a year

Dow Jones closed highest in a year!
Things are looking up!

GTA "Hot" housing market expected to cool by November

This is an interesting perspective. Our local GTA marketplace is very hot right now, not too many listings on the market compared to previous months.

Below is an article summing up our real estate market that I thought was definitely worth passing along:

Hot housing market expected to cool by November

Reuters
TORONTO -- Low financing costs and pent-up demand helped restore Canadian existing home sales to pre-recession levels, but the red-hot pace will likely peter out before the year is out, a report showed on Wednesday.

The Bank of Canada lowered rates to an all-time low with an aim to cushion the Canadian economy from external shocks. Instead, this aggressive easing has "proved to be more of a trampoline for resale housing markets," Toronto-Dominion Bank economist Pascal Gauthier said.

As of August, 50-60% of pent-up demand has been absorbed, and if the current pace persists, the demand will dry up by November, TD estimated in its Resale Housing Market Outlook. A sharp shift in consumer confidence has contributed to the rebound, combining with low and favourable interest rates that made home ownership affordable for many Canadians.

Between 45,000 and 53,000 potential sales late last year failed to materialize because consumer confidence froze up during the worst of the global financial crisis, TD estimated.

No other Canadian economic indicator in the past few months has recovered as strongly, and in fact, home sales have now exceeded pre-recession levels and matched the lofty volumes of 2007, TD said.

"After plummeting by nearly a third in the second half of last year, the seasonally-adjusted level of sales had climbed back by 61% as of August," the report said.

Overall, TD estimates national existing home sales will rise 2.4% to 445,000 units in 2009 from a year earlier, with the average price climbing 2.1% to $310,000. In 2010, sales are seen rising 2.2% to 455,000 units, while prices jump 5%. But in 2011, TD projects eroding affordability will dampen sales but the average price will still add a modest 2%.

TD also looked at nine Canadian cities and their prospects for existing home sales. All cities coast-to-coast were forecast to show gains from this year to 2010, but then retreat the following year.

On Tuesday, TD released a report that suggested the Bank of Canada could raise interest rates sooner and more aggressively than forecast if real estate strength did not cool.

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

• 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?

The Tide has Turned AGAIN for variable rate mortgages

The Tide has turned - again. As it "normally" and eventually does. All things seem to go in cycles, if you are my age or older, 51+ you will agree with me.... Read more about cycles here

Variable rate mortgages have been at Prime Rate plus about .5% to .75% now for about 2 years or so. Just this week, some lenders have changed their price variance on variable rate mortgages and we are now back to Prime MINUS mortgages. This is great news for people like me who have mortgages that are prime minus and may be renewing in the next few months.

I've written about this in the past

http://www.mississauga4sale.com/blog/2008/04/variable-rate-versus-fixed-rate.html

and

http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm

I have seen mortgage companies offer offer clients a 3 yr term at Prime less .10% and I have 4 & 5 yr terms at Prime.

Many predict the pricing variance may drop further but most don't think it will go as low as last year's Prime less .60%.

Current "BEST" Oct 1st 2009*

Prime...........2.25%

Fixed rates:
1 yr...............2.45%
2 yr...............2.90%
3 yr...............3.34%
4 yr...............3.74%
5 yr...............3.84%
7 yr...............5.30%
10 yr.............5.40%

Variable rates:
3 yr................Prime less .10%
4 yr................Prime
5 yr................Prime
*rates subject to change without notice

Let me know if you have any questions...enjoy the weekend!
Mark

Good news: Both fixed rates and variable rates dropped again

Good morning,

The lowest 5-year fixed rate is 3.65%. The 5-year variable rate is at Prime. 3-year variable rate is also at Prime (2.25%) now.

4-year variable @P-0.05% (2.20%) or P-0.20% first year and P for the next 3 years. Your sale must be closed within 45 days.

Great fixed rate option is: 3-year fixed @3.39%.

Not sure about fixed or variable, why not try 50/50 wise mortgage. That means 50% of mortgage is fixed rate and the other 50% is variable rate. The effective 5-year rate is 3.22% right now.

Please let me know if you need more information.

Have a great weekend!
Mark

Which is better for you - Fixed versus variable rate mortgages?

The graph below shows the fixed versus variable rate differences for the past 25 years. You will note that the variable rate is often lower than the fixed rate. This implies that in the long run, you may be better off going with a variable rate mortgage as opposed to a fixed rate mortgage.

I've written about the benefits and risk associated with this decision on my website: http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm

September 09 has been kind to most....a welcome relief from last year's fears. Thankfully - the financial markets are improving and confidence is growing.

Mortgage interest rates are low, lenders are competing for business, and we've seen slight decreases in both fixed and variable rates.

I am often asked for historical mortgage interest rate data. The graph below is for data from January 1985 for both fixed and variable rates.

In reviewing the graph you will immediately see how expensive rates were back in the mid 80's compared to today

It's great to be able to obtain the current rates.

Please let me know if you have any other questions or if there is anything else I can help you with.

Thank you again for contacting me and I will do my best to help you with your real estate needs,

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

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


• 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?

REMAX reports that Canadian housing markets are back!

This is the most recent report from RE/MAX about the Canadian Housing Market

Canadian housing markets buck recession and trend upwards, says RE/MAX

Mississauga, Ontario (September 24, 2009) - With the worst of the recession over, residential real estate markets in major Canadian centres are poised for growth in the final quarter of 2009, according to a report released today by RE/MAX.

The RE/MAX Bricks and Mortar Report found the bounce back that began in early Spring has made this recession one of the shortest on record for real estate. Low interest rates, pent-up demand, and improved affordability levels have all played a role in the recovery now well-underway. Percentage increases in sales from January to August 2009 were led by Vancouver, (up a substantial 14 per cent to 23,158), Victoria (up 7.4 per cent to 5,266), Edmonton (up 6.2 per cent to 13,691), Regina (up five per cent to 2,597), Ottawa (up 2.4 per cent to 10,830) and Toronto (up 1.8 per cent to 58,421). Housing values are already ahead of record-breaking 2008 levels in seven of the 11 markets surveyed, including Newfoundland-Labrador (18.1 per cent year to $203,584), Regina (6.4 per cent to $244,088), Halifax-Dartmouth (3.5 per cent to $239,633), Winnipeg (3.5 per cent to $207,006), Ottawa (3.3 per cent to $301,684), and Toronto (up 0.3 per cent to $385,978). Nationally, average price hovers at $312,585, up 0.5 per cent over one year ago.

"Markets are heating up across the country," says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. "Purchasers are clearly taking advantage of affordable prices and rock bottom interest rates. Those who missed the boat in years past have found that sitting on the sidelines can be a costly move. Prices are on the upswing and inventory levels are tightening, so the push toward homeownership is expected to continue throughout the Fall and possibly into early 2010."

This is the most recent report from RE/MAX about the Canadian Housing Market

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

• 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?

How important is price when it comes to selling real estate in Mississauga?

This is provided from a newsletter I just received, enjoy! Mark

REAL ESTATE NEWSLETTER
October 2009

How Important Is PRICE?
Most of us instinctively know that price is important. It’s important in every kind of market, but it gets more important as market activity slows.

In the current market, it’s almost impossible to exaggerate the importance of price from the prospective of buyers and sellers.

Buyers who successfully buy make offers that are at or near market price. Sellers who successfully sell price their properties at or near market price. Simple?

You’d think so. But there are so many would-be buyers out there who are trying to “steal” properties for way less than they’re worth (yes, even in this market). There are also a good many sellers who are still overpricing homes they’re futilely wishing they could sell (yes, even in this market).

There are also buyers who are getting good deals and sellers who are making reasonable sales. Their secret?

SUCCESS SECRET

Successful buyers and sellers make it a point to KNOW what market price is for the property they’re seeking to buy or sell. There are many ways to do this. Each involves work and/or money.

You can check with your agent or the public records for what SIMILAR homes nearby have actually SOLD for RECENTLY. Make adjustments for any obvious differences such as lot size, curb appeal, condition, etc.

You can pay an appraiser to do this for you. In my neck of the woods, one would expect to pay about $350 for an appraisal. It might be more or less in your area.

There are also home value report services on the internet. We have a link to one on our site. Some of them are very good, especially if you have enough knowledge to interpret them (ignore homes nearby that are included, but aren’t really comparable, for example). Some of these services are free. The better ones tend to charge for their reports.

There is also a service that’s probably available that buyers and sellers don’t typically use. What am I talking about?

Experienced real estate agents are very good at doing a “market analysis” and coming up with a market price using data available to them through their local, realtor multiple listing service. They typically provide this service without a separate charge to their listing and buying clients.

Bankers who don’t necessarily want to pay the full price to have an appraisal done will often offer to pay a real estate agent a smaller fee to do a market analysis on a property and provide an “opinion letter” as to the current market value of the property. Experienced agents are often very good at this, so the bank saves money, and the agent has an additional source of income.

I think buyers and sellers could probably make similar arrangements with real estate agents. The cost could be expected to be less than the cost of a full blown appraisal which is particularly important when one considers the fact that possible changes in value should be evaluated at least every six weeks under current market conditions.

If I were a buyer or seller approaching an agent, I’d tell them this frankly when I asked for their help. If I were a seller, I’d probably “sweeten the pot,” and incidentally broaden my marketing options by telling them I’d also be willing to pay them the listor’s typical commission (about half the going rate) if they brought me a buyer for my property.

No matter what approach one uses, successful buyers and sellers begin with and maintain a good knowledge about the market value of the property which is the subject of their interest.

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

• 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?

Do you think we should purchase our home now or wait for the real estate market to stop fluctuating?

This is a question that many ask in today's market, Should I Purchase My Home Now or Wait for the Market to Stabilize?


This is an important question that is difficult to answer but the following will give you an idea of what to do from once perspective


Many people are debating whether they want to buy a property now or whether they should wait. They are getting mixed messages from the media about the market conditions and the state of the economy. Reports are indicating that the real estate market is rebounding. However, we are still hearing negative news about businesses folding and job losses. So is now a good time to buy?

On the other hand, there is still the question whether housing market prices will hold or drop further. Potential buyers are wary about taking on such a huge borrowing to find that the dream house they have just bought may be worth appreciatively less in six months’ time.

The decision whether to buy a home now or wait is very tricky at the moment. On the one hand you have very low mortgage rates as the Bank of Canada had cut the interest rate several times in the last few months to try and get the banks lending again. Deals as low as 2.75% are being advertised to entice new customers into the market and get the chain moving again. Also, property prices have dropped in the last year and there are many good deals to be made.

House prices are cyclical. A low market is always a good time to buy even though it may be several years before the market rebounds. The property market will rebound. If you are in a position to buy a house and can afford the repayments, buy now. Waiting to buy could result in paying much higher prices in a rising market.

Are you really ready?
It is also important to consider how long you will be in the home that you are about to purchase. Once you buy the home, it may be very difficult to resell right now. If the market continues to drop and you end up moving and selling in a year, you may have been wiser to wait a bit longer. So that is something that you want to make sure that you consider when making the decision to purchase a home.

Another thing that you need to think about is if you can afford the home that you are considering buying. While prices have dropped recently, you want to make sure that you find a home that is going to fit your budget. As a precautionary measure you should also budget for the fact that the cost of living might rise even further, and that being able to afford these increases will be important.

Of course, if you have a long-term plan to be in the home, the fluctuations and potential decrease in value in the near term doesn’t need to get you down, as the only price that matters is the price you are able to sell for when you need or want to move.

If you have the funds available for a down payment and you are eligible for a mortgage, and feel comfortable about your job security, and currently meeting the rising costs of living fairly easily; then the time is probably right for purchasing property. It is still a buyer’s market, so find your dream home, negotiate your best deal and jump in. Buying property now is one of the best times in the last hundred years to get a bargain.

I hope this finds you happy and healthy!

Mark

New mortgage interest rate promotion P-0.05%

I just received an email from a mortgage broker I know who has a great promotion on rates.

It's for the 4-year variable @ Prime -0.05% (2.20%) or Prime-0.20% first year and Prime for the next 3 years.

The sale must be closed within 45 days.

Great fixed rate option is: 3-year fixed @3.39%.

Please let me know if you are interested and I will put you in contact with this mortgage broker.

Thank you,
Mark

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

• 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?

GTA Real estate market boom

Hello,

I thought I would share this email with you, positive news and good advice for all from a mortgage broker that I know.

As you are of course aware, July was yet another record month for real estate sales in the GTA with an increase of 28% over July 2008. This hot streak continues into August with sales up 27% to date compared with the first two weeks of August 2008.

The only problem now is the lack of market inventory, however with such a strong sellers market, the time is perfect to present the market facts to potential sellers.

It can be very easy to become busy during a real estate boom, but it is important to keep prospecting. One mistake that many salespeople (and small businesses alike) tend to make is that when things get busy, they become complacent believing that the business will just keep coming in. They cut back on (or even eliminate) their promotional efforts. Busy streaks of course do not last for ever. The best way to keep a busy streak going is to set aside a period of time each day (or even each week) to focus on prospecting and lead generation.


We have seen some decreases in mortgage rates over the past few days, particularly in the 5 year fixed quick close at 4.09%, three year at 3.39% and the ARM has dropped 5 basis points to 2.55%.


Today's lowest rates:


1 year 2.75%
2 year 3.05%
3 year 3.39%
4 year 3.85%
5 year 4.09%
5 year ARM 2.55% (prime + 0.30)

Quote of the week: Do a little more each day than you think you possibly can. Lowell Thomas, author

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

• 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?

Gen X is flexing their new real estate purchasing muscle

Gen X is flexing their new purchasing muscle

Our internal survey of RE/MAX offices across the country have reported that Generation X purchasers are poised to replace aging baby boomers as the major force in recreational property markets across the country.

This demographic shift was originally noted in our 2009 RE/MAX Recreational Property Report highlighting sales, pricing, trends and developments in 50 Canadian markets. Our report found demand from Gen X (those born between 1965 and 1980) has nearly doubled over one year ago. Seventy-four per cent of markets surveyed this year reported a marked trend toward thirty-something buyers snapping up affordably-priced product, ranging from waterfront cottages to resort condominiums, compared to just 40 per cent in 2008.

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

• 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 Commission Rates and Information Request

Here is a typical question that I receive about commission rates

Dear Mark,

Can you tell me who sets the commission rates for selling residential homes?

Thanks,

DF

Hi D.F.,

There is no set commission, setting commission rates is against the law and the Anti Combines Act and a few other laws in Canada.

There are typical rates and regional variations in rates, but they are never fixed. Commission can be zero to 10% or higher.

I hope this helps.

You can read more about commissions at this page of my site: http://www.mississauga4sale.com/commission.htm

Thank you,

Mark

Longevity and long range planning

Hello:

This article just came through my email and I thought I would share it with you. It's very interesting. Makes you think that you had better make a "longer' range plan than first anticipated. I still feel real estate investment is the way to go, but many will not agree.

Only time will tell and by the looks of it, we'll have lot's of it!

All the best,

Mark

---

Tomoji Tanabe died in his sleep this past June 19th. A resident of Japan, he was the world's oldest man at 113. He drank milk every day, avoided alcohol, and did not smoke.

His successor as the world's oldest man was Henry Allingham, a resident of England who was also 113. Henry attributed his longevity to "cigarettes, whiskey and wild, wild women".

I'm pretty sure the secret to a long life is a large measure of luck.

When we are young we tend to think of life as a long journey with no end in sight. It is something we look forward to and we don't worry about it. As we approach retirement we still look forward to a long life but we start to worry about just how long it might be.

You are going to hear the word "centenarian" more and more in the future. It refers to those who have reached the age of 100 - a milestone we think of as being quite rare. In the 1950s there were only a few thousand people over the age of 100 in the world.

Some experts are predicting that there will be one million (1,000,000) centenarians in the US by 2050. This means that one million people in the US in their early 60s are looking at another 40 or more years of life. On a global basis it is expected that there will be more than five million centenarians by 2040.

While luck definitely plays a role in longevity so do advances in medicine, technology, food supply and physical fitness. The one element that may impact longevity the most is that of nano technology - literally microscopic intelligent machines that may be injected into our bodies to address a myriad of health issues.

All of this begs the question: just how much life can I afford to live?

It looks like Spock had it right when he said "Live long and prosper".

---

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

• 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?

2009 and 2010 Real Estate Market Predictions and general economic predictions

For the past 4 years I have looked into my crystal ball and given my predictions ahead for the Mississauga and GTA real estate marketplace and the general economy.

This year I have waited until July to write my predictions for the next 12 to 18 months and you can find them here:

http://www.mississauga4sale.com/Toronto-GTA-Real-Estate-Market-Predictions-2009.htm#2009

Enjoy!

I would love to hear your comments or predictions for our future.

All the Best!

Mark

Be careful when using and quoting TREB stats and press releases

I was asked:

Is this information, that is in the News and on the 'net, abound house prices
and multiple offers, true?
If so, could my house value really have gone up
more than 16% this year. If so, what was the benchmark to start from.
16% on
top of zero is still only 16%, however, 16% on top of 1 Mill. is a lot.
OR.....is this a bunch of "feel good BS" from the likes of Stats-Can.

Good question:

Yes, be careful about the reported real estate prices, the stats are often mis-quoted

When TREB reports 16% they are usually reporting that sales VOLUMES have increased 16% compared to the same month last year

Prices are currently UP about 4 to 5% since the low of January of this year after falling about $50,000 (from about $398k in April of 2008 to just under $350k in January of 2009) which is a drop of about 12% so we are still down compared to the zenith in spring of '08

http://www.mississauga4sale.com/TREBprice.htm#graph

TREB often reports that real estate is up, say 10%, but they are often referring to the sales volumes, not the prices. The average price is really only that, an average price, and areas can vary widely from the average. As well, you only need a few million plus dollar sales in one area to increase the average price in an area substantially, so again, be careful when using averages for your immeditate area.

Average prices are useful to watch trends over time.

Enjoy!
Mark


again, sent with mark@mississauga4sale.com and not the hotmail crap



--------------------------------------------------------------------------------







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

Has the Toronto Real Estate Market prices reached their Zenith? No way!

These are my 2 cents worth in response to Garth Turner's comments and predictions on our Canadian real estate bubble that is about to burst and that "This is because the housing market is at its zenith" as stated at his blog post here:

I don't agree that the housing market is at it's zenith. There is much room for the Mississauga Real Estate Market and the GTA real estate market to increase.

First things first.

Negative articles, press, blogs and news sells. Negative press has always sold newspapers and negative press is most sensational. You can read the negative press, but don't always follow the predictions, often they are wrong.

If you want to get noticed, write something very negative or go against the grain and many will notice. Other negative people will tell their negative stories, because negative people need validation of their negative experiences and observations, so they can say "I told you so" and sit on the sidelines and stay safe. (just read the majority of responses in this blog, it's the negative herd mentality).

I'm not saying negative people are wrong or that negative analysis is not necessary, but don't let it affect your psyche or your personality. Always be positive, even in negative situations and you will survive. Even some of the negative people who have written above are sometimes positive because they see opportunity in negative situations (what an upside world we live in)

If you say something positive or predict positive news about the future and it does not happen, people will point at you and put you down for being wrong. If negative press comes to be, the writer can say I told you so. If negative press does not occur, everyone forgets about the negative news and moves on, waiting for the next negative news.

Thus, negative news cannot lose.

I do not agree with Garths comments that he states our Canadian real estate bubble that is about to burst and that "This is because the housing market is at its zenith" We are no closer to the peak of real estate prices in the GTA or Canada than we were each spring and fall peak experienced during each year from 1995 to 2008

Some have commented about the 'emotional' aspects of the real estate market and the financial markets.

We all make decisions based upon emotion and then attempt to validate our 'emotional' decision with facts.

I would like to know where you think we currently are on the market emotions cycle as pictured here:

http://www.mississauga4sale.com/Market-Emotions-Cycle.htm#graph

Do you think we are at the point of Hope, Relief or maybe even optimism? If you asked any realtor back in October 2008 up to about January 2009 they would have said that we were in the area of Despondency. Our GTA marketplace was so depressed, sales were down incredibly, agents were getting out the business by the truckload and the future looked grim. Our 'price' bottom was January 2009 and since then prices have only increased in the GTA. This gives many of us reason for hope and even optimism, some in the downtown areas of Toronto are feeling euphoric of late with multiple offers and 100%+ selling prices. Could this real estate bubble last much longer? Will this real estate mini bubble last much longer? Your guess is as good as mine.

I've been a residential real estate agent in Mississauga since 1987 and I've watched people suffer from real estate losses and even lose their homes in the period from March 14, 1989 to about 1994 when the market began to increase again. Our real estate market has enjoyed unprecedented growth from 1995 to September of 2008. 14 years, incredible. During this period I had clients who were buying a new home in say 2001, closing 15 months later and making $100,000 profit and did it again from '03 to '05 or '07 and made a ton of money in real estate. I warned them that our market had already peaked at whatever it was at the time, $250,000 GTA average price, $300,000 average price and then $380,000 average price in '07, how high could it go and when would it burst. Well, I was wrong that the prices had 'maxed out' every time the TREB (Toronto Real Estate Board) price hit a new maximum each spring and fall from 1995 to the spring of 2008.

I carry two articles in my portfolio, one written in 1987 which talks about Toronto average real estate prices predicted to rise to over $200,000 in 1988 and another article that appeared in the Toronto Sun written by the Business Editor, who was none other than Garth Turner, dated January 7, 1988 where I have highlighted one paragraph that sums up why real estate in the GTA was undervalued, Garth states "This is the result of simple market forces - of supply and demand. As long as people are willing to sacrifice other aspects of their lives to liver where the action is, then prices will rise" Reasons for the huge increase in real estate values in the 80's were that women came into the work force during this decade and investors fueled the market from the mid 80's until '89. It was just a simple case of what Garth states, supply and demand. Many blamed the reason for the 'bust' back in '89 due to double digit inflation, double digit unemployment and investor greed. It took about 5 years to recover from that bubble. I feel that supply and demand was the fundamental reason why real estate continued it's unprecedented growth from 1995 to 2008 The differences in this last cycle of increase was that we had relatively low interest rates (actually an all time low in 03 and 04), low inflation and low unemployment. Again, supply and demand reared it ugly head and prices kept increasing. Only when the "financial crisis" peaked in September of 2008 did our local GTA real estate market pause. And this pause was only for about 4 months. Since January of 2009 prices have increased again.

So what's my point? Garth preaches doom and gloom for our future real estate market. I certainly hope he is wrong. I've read through all the comments on this post and while most bring up very important and factual points, these don't address the old adage of supply and demand. If there is demand and the demand continues, prices will stay about where they are or increase. If the US and the global economy improve over the next year, then we are in for another round of positive real estate markets in Canada. As long as people around the globe see Canada as 'the land of the free' they will continue to migrate here and as long as our Canadian economy does not run out of control, demand will exceed supply.

If you bought a home back in 1989 at the very peak of the TREB market and held that same home for the past 20 years you would still have 5 years left on your mortgage that was originally about $180,000 (assuming you put 10% down payment) and you would still owe about $50,000 on this mortgage assuming 8% average interest rate since 1989. You would now have a property worth about $400,000 and equity of about $350,000 If you are thinking of buying a home today, don't buy anything that takes up more than 35% of your gross income, make your amortization 20 years if you can handle the payment, or 25 years at the most. If you rented for $1375 (the mortgage payment for the preceding analysis) you would be paying about $2000 per month or more for the same house and you would have ZERO to show for it. Also, don't go for the 30 or 35 year mortgage. Go as short as you can to pay off that mortgage as quick as you can while the rates are low. I do believe what Garth predicts that rates will rise again to double digits by the year 2020, but if you pay down as much of your mortgage as you can in the next 10 years, you will be ok by the time the interest rates hit double digit again. My point is that if you sit on the sideline and hope for real estate values to drop 10 to 50% over the next year or two, you'll be out of luck (again) here in Canada. Our economy is not the same as the US anymore, our banking system is not the same and our mentality is not the same, certainly not similar to what SF Banker writes about.

So, what's my second point? Read the negative press, articles, blogs and such, but DON'T be negative and follow their advice in the long run. Buy real estate for the long run, buy real estate that is within your family budget and pay it off as quick as you can. So when the next 'drop' in the market occurs and the nay sayers say they are right, then you can buy another property at a good price! :-))

Just my 2 cents worth.

I wish you all the best!
Mark




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

Stock Market outlook to end of 2009 and beyond - postive!

this is the outlook from investors and customers of RBC on the stock market and financial markets in general, thought I would share the postive mood!

Mark

Your views on the stock Market:

1. One in every two direct investors surveyed on this panel are holding their investments steady for now and see no reason to panic about current stock market conditions.
2. Four in ten have added or are planning to add more money into the stock market in the near future.
3. The majority (seven in ten) believe the stock market, as measured by S&P/TSX Composite Index, will be higher by the end of 2009 and a third believe it will be higher in three months’ time.
4. Those who have a positive outlook on the stock market (22%) are seeing opportunities in current stock price volatility; they believe it presents trading opportunities. These investors believe that current stock market valuations have reached the bottom, that the bear market is now over and that the financial sector has begun to stabilize .
5. Those who have a negative outlook on the stock market (8%) believe that current stock market valuations have not reached the bottom and that the bear market is not over. They believe that the current economic conditions will have a serious negative impact on GDP and that unemployment rates will rise.
6. Those who have a neutral outlook on the stock market (70%) need to see stabilization/lowering of unemployment rates and positive news from corporate announcements to feel more positive.

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

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

• 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?

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

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

REMAX reports residential real estate is now in recovery mode

This is what REMAX Ontario Atlantic reported about the real estate market in Ontario and Canada, all good news!
Mark

Mississauga, ON. (July 13, 2009) - Pent-up demand for residential housing has bolstered sales in Canada's major markets-a clear signal that the housing sector has shifted into recovery mode, says RE/MAX.

More balanced market conditions have emerged, effectively ending the stronghold that buyers had on the market over the past six to eight months. Canada's largest markets, Toronto and Vancouver, led the charge-with June sales among the highest in history for both local real estate boards. Close to 11,000 properties changed hands in Toronto, up 27 per cent over one year ago, setting a new record for sales in the month of June. The figure was just slightly off the all-time peak of 11,146 units. Residential sales in Greater Vancouver increased 75.6 per cent over one year ago, to 4,259 units, just short of the record breaking 4,333 sales, which occurred in June 2005. Overall, major markets began to recover in March, posting escalating sales in April, May and June. The impetus is expected to continue throughout the remainder of 2009, with most centres now forecasting year-end sales on par or ahead of 2008 levels.

"The strength of the market, amid the most significant global recession in recent history once again underscores its relevance to the nation's economic engine," says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. Canadians believe in homeownership -- a fact best illustrated by the purchasers who ventured forward in recent months and snapped up some of the best real estate deals this market has seen in years. Those who chose to sit it out on the sidelines are now facing a market in transition, characterized by the threat of rising interest rates, low inventory levels, and upward pressure on housing values."

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

• 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?

RBC reports that Ontario's economy and real estate market improving

RBC reports that Ontario's economy is no longer in a negative period and
average prices have started to rise again


Ontario - Not so bleak anymore

Although persisting economic uncertainty is still hampering many Ontario's
communities, recent developments have provided encouraging signs that the
province's housing market, overall, has seen the worst of the cyclical
correction.

Spring resale figures have shown a surprising gush of activity in the
province, retracing much of the sharp declines during the fall and early
winter. Average prices for existing homes have started to rise again in
recent months, climbing back to where they were mid 2008. Much of this
resurgence in the overall Ontario market is owed to greater affordability
following a year-long period of repair.

By the first quarter of this year, some of RBC's affordability measures
(e.g., for detached bungalows and condominiums) had even dropped below
long-term averages. Nonetheless, for some of the hard hit areas of the
province, such as Windsor, St. Catharines and London the healing process
might be long and difficult.

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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CMHC predictions on the New Home Real Estate Market

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

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

• 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?

CMHC reports on Resale Market Resale Home Buying

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

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

• 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?

REMAX Ontario Atlantic reports on the New Reality for real estate agents and the real estate market

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

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

• 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?

Public Open houses - are they still effective?

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?

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

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

Correction in stock market predictions!

This is an update/correction to my investment guru's recommendations, Enjoy!

Mark

C$, oil and $spx are holding very well (weekly chart).
It is very likely that they will try to destroy the US$ (to create inflation).
Remember last time?

However, for some reason, gold/silver do not show much upside.
But, oil does.
Things change.

What would I do now?
Hold C$.
Hold some oil.
Hold some financials.
For now - eventually you got to sell.
But, the charts don't show it yet.

Very confusing situation: the weekly charts (long-term) show more upside,
but the daily charts (short-term) show a sell.

It could be another trap - too early to tell.

With stocks it is easier - some you can short now, some you hold,
some you buy, some you sell, some you avoid.

Mutual funds are different - because of 1-10 stocks you can lose all gains.

Whatever you do be careful.
Usually the signal you use is: if analysts recommend a stock that has gone up significantly get out!

Great advice!

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

• 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?

Recession is having impact on housing market in Ontario reports RBC

RBC is reporting that the recession is affecting the real estate market in Ontario. They are stating that the areas most effected by the slowdown in the economy, such as the auto manufacturing is hardest hit. This is also having a negative effect on the Toronto real estate marketplace.

We are seeing a very active and healthy real estate market in Mississauga. Properties are still selling in one to four weeks when they are priced right and show well. Time will tell if this buyout market continues, let's hope!
Mark


Ontario — Recession taking a toll

With the recession pounding many communities, housing market conditions have deteriorated notably across Ontario since mid-year last year. Areas particularly exposed to the woes in the manufacturing sector, such as Windsor, St. Catharines and Kitchener, have ranked high on the injured list with plummeting resale activity and dwindling prices.

Even the Toronto area has clearly entered a corrective phase.

The recession will continue to be the dominant factor weighing on the province’s housing markets in coming months. However, the impact is unlikely to develop into a rout similar to that of the early 1990s.

Affordability, while still causing some stress, is quickly being restored to levels closer to long-term averages thanks in large part to lower mortgage rates. This suggests that there is generally little excess currently for markets to clear.

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

• 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?