Happy Birthday Canada!

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

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

For more information please contact A. Mark Argentino

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

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

Power of Sales and Bank Foreclosure Question

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

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

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

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

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The Power of Persistence as learned from Rocky Balboa

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

Enjoy

Mark

This was passed along to me this morning

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

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

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

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

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

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

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

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

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

click here

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

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

• 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?

Latest Mortgage Interest Rates in Mississauga and Toronto

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

Have a great weekend!
Mark

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

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

I hope this finds you Happy and Healthy!

All the Best!

Mark

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?

Motivational quotes for real estate agents and everyone!

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

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

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

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

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

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

1. working on Growth

2. Administration and

3. working On your business.

1. Growth

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

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

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

2. Administration

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

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

3. On your business

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

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

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

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

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

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

Current Market Observations and what to do with your investment dollars

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

My observations are this:

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

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


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

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

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

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

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

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

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

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

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


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

When selling should you list furniture items for sale?

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



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



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

Sent from my BlackBerry device on the Rogers Wireless Network

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

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

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

Investment Guru explanation - "So you understand"

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

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

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

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

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

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

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

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

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

I hope this finds you Happy and Healthy!

All the Best!

Mark

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?

More investment advice, if you like the stock markets!

I certainly prefer real estate for our long term investment strategies, but the stock markets also have opportunities. Here are more thoughts from my investment guru. As you can see, he's a little negative on the US economy, but has some interesting points!

Enjoy!

Mark

US$?

Let's see if the US government will be able to destroy the US$ -
once and for all.

Inflation destroys the currency.
Welkommen Weimer Deutschland.

Actually, I don't know.
The weekly (long-term) charts show this,
but the daily (monthly) do not.
But I can hope.
We've all been hoping for years -
we even have the Bush billion banknotes printed.

The good news:
You don't need to do anything to benefit from this,
just don't live in USA.
However, it does look that Canada and Switzerland are best positioned to benefit from this.
Caution: Don't buy gold/silver.
If you got it good - don't buy more.

It looks like the final attempt of the US administration -
now or never. Now is the best time ever.

I am sure nobody would be surprised.
Not even the Americans - they will have to welcome it as a necessary evil.

The FDPIX (Falling US$) is very strong here at the bottom.
Remember 2007?
Well, this could get better:
http://www.321gold.com/editorials/schiff/schiff051109.html

If this fails, the next attempt will not come until this Fall.
If that one fails the next will be in January 2010.
and the next...
Let's just get it over with - no point postponing the inevitable.

My investment Guru updated thoughts

My investment Guru updated his prognosis from the other day and I thought I would share it with you. Enjoy!
Mark

Hope this helps:

Rule No. 1: If you don't know what to do - do nothing.

This is what I would do:

short DNDN, efut, calm - stay short itmn...

wait for these to drop more: soap, sks, m, jwn, spls, jcp, drl...

wait for a correction in these: lvs, byd, mgm, wynn (the Vegas play)

wait for a correction in airlines (direction is not clear)

many techs...

get out of financials...

But then, as you can tell, I do not care much about mutual funds -

and I can easily adjust whenever necessary.

This is the problem: March 9, 2009 was a fantastic buying opportunity -

however some are starting to fall....

but you can't get in (too high).

Most stocks you can play both ways - up or down.

However, many you can NEVER buy: GM, ASYT...Bombay, SharperImage, NT...

ers, peix, desc...etc...etc...ENRON, WCOMM...and other scams...

Actually, it is really simple:

If there is a market correction - buy.

If it goes much higher - short with options.

Wouldn't you like to have shorted everything in October 2007?

Or 2000?

Guess who usually wins in the LONG-RUN.

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?

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?

Do you need a degree to sell real estate in Ontario?

I receive questions from people who are thinking of becoming a real estate agent. Here is one below with my answer.

Hello my name is AC and I live in Prince Edward County. I was googleing and I came across your web page and I have a few questions as I am considering real estate a career. First, do you need a degree in order to legally sell in Ontario? Second, what do you think is the most legitimate way to receive your license?

If you can find the time to reply I would really appreciate it.

Thanks

AC

Hi AC,

You live in a beautiful part of the Province, just gorgeous!

You do not need any degree obtain your license, but you must have your real estate license to sell real estate in Ontario unless you are working for a builder or a corporation that buys or sells real estate.

The best place to begin is http://www.orea.com/index.cfm/ci_id/10346/la_id/1.htm and this will show you all the necessary steps on becoming a real estate license.

I wish you the best in all your endeavors!

Mark

Financial Markets, Real Estate and the Dollar

This is a snapshot by my investment guru, let's see how much of this comes to pass.

Do you agree with anything below? Disagree?

Mark

Synopsis of the Financial Markets, Real Estate and the Canadian and US Dollar

As the markets go down,
so does OIL and C$.
Just watch the charts.

Same old, same old...
US$ up, everything down,
and then the reverse...

US$ down - to create inflation (that's why OIL goes up)
to get out of the housing mess created by US banks.
However, China comes and doesn't allow US$ to go down by much.
The stock market comes to a halt.

US$ up - recession continues.

Today is the turning point - as bank stress tests come...
Chart shows TOP ($spx - 500 leading US companies).
Closely mimicked by $tsx (but not the same - due to the weighting of gold stocks).

Canadian mutual funds are down (and will stay down in the long-term) due to the heavy weighting in energy.
Canadian mutual fund managers bet against the US$ - they will NEVER recover.
Some have already left the industry.
However, if you go for swing trading you will not only recoup all your loses but pretty much make more.
With the right stocks - in the US (in US$).
Not mutual funds.
NO "investing for the long-term".

If you want to invest for the long-term just hold C$ (nothing else).
I don't see 1:1 again, nor gold to $1000 nor OIL $100 - remember that - that was inflation.
There is no US$ devaluation and except for these 1-2 month bounces there is nothing else the US Federal Reserve can do (they are bankrupt).
They have no money - have to print or borrow from China.
And when they print $ they don't create jobs - they just give it to Wall Street.
The FED can't lower rates any more (they are zero).
32 US banks have gone bankrupt in 2009. (regardless of the stock market games).
Unemployment will be even higher this summer (the official one) -
not it is at 26 year high.
That's when you buy - on OFFICIAL BAD news.
You sell on good (are there any?).

Follow GM the next couple od days - don't be a collector
(the price should go up to $138: 100-1
reverse stock split - like NT).
Most likely GM will not be around in a month from now - the best scenario is a government-run company.

I can't take the credit for writing the above synopsis, but it's very interesting read.

So, what do you think of the above synopsis, agree, disagree, or something else?

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 report on GTA resale residential marketplace

CMHC has come out with their GTA housing report and has reported the following for the GTA marketplace in residential real estate.

Enjoy,
Mark


Resale Market Demand for Existing Homes Slows

Greater Toronto area (GTA) resale home purchase activity slowed considerably in 2009. During the first quarter of 2009, a total of 12,957 sales transactions were recorded through the Toronto Real Estate Board, down 27 per cent from the same period a year ago.

Despite reduced average selling prices, record low borrowing costs and continued income growth, households were hesitant in their home buying decisions. Increased choice in the market, along with a rising rate of unemployment and a less positive outlook for job and wage growth is leading to much less aggressive home buying activity.

The level of new listings, an indicator of resale market supply, edged lower by eight per cent in the first three months of 2009. More sellers have arguably realized that they could not get the anticipated values for their properties and were challenged by the larger number of competitors
on the market.

Despite a moderation in the pace of new home listings, the GTA resale market remained well supplied. New listings are coming off record-high levels in 2008 – a time when many homeowners capitalized on strong home equity gains accumulated over the previous years.


The relationship between demand and supply (measured by the sales to new listings ratio) dictates movements in price and measures the level of choice in the market. A Sales to New Listings Ratio (SNLR) below 40 per cent typically signifies a buyer’s market, where properties take longer to sell and the purchaser has the upper hand in terms of
negotiating terms and price.

In the first quarter of 2009, the SNLR moved down to 38 per cent while average resale prices in the GTA

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?

Mortgage Interest Rate update

The table below will show you the current posted and rates that are available from some lenders.

I hope this finds you happy and healthy!
Mark

TERM	POSTED	Achievable RATES*
6 Month	5.20%	5.00%
1 Year	4.50%	3.25%
2 Year	5.00%	3.79%
3 Year	5.20%	3.74%
4 Year	5.44%	3.94%
5 Year	5.55%	3.82%
7 Year	6.80%	4.95%
10 Year	5.80%	5.25%
Variable Rate		3.25%
Prime Rate		2.50%

* Rates may vary and are subject to change without notice.
Rates Last Updated: Friday, March 20, 2009

Read more about:

• Interest Rates
• Power of Sale Properties
• Price Trends
• or Search the MLS and more at my website

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

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

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
›mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

• Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
• On-Line Real Estate Newsletter sign up
• See seasonal housing patterns

Tim Horton's chances of winning a car!

I just heard on the radio with the Roll up the Rim to WIN with Tim's that they put more winning cups in BC compared to Ontario

The odds of winning a car in BC are about 1 in 5 million and in Ontario the odds are 1 in 10 million which is about the same odds as you becoming a professional athlete or dating a super model, good luck!

Lol

Mark

Clocks Change / Battery Replacement

This was forwarded to me, great advice.

Important reminder - when you are walking about your house changing the time on your clocks, coffemakers, microwaves, etc, take a moment to change the batteries in your smoke alarms.

After all, it doesn't matter if you know what time it is if you are having smoke inhalation "issues"!

Even electrically powered smoke alarms can have back-up batteries, and your CO detector may need a battery too.

You also want to suck the dust out of your detectors with a vacuum, and if the smoke alarm is older than 10 years, you should replace it (CO alarms should be replaced every 7 years).

Thanks,
Mark

Mortgage interest rates for longer terms are falling slightly

You will see the current posted and best mortgage rates available in the GTA in the table below.

Longer term rates are falling, this is good news for anyone thinking of buying in the next few months!

I hope this finds you Happy and Healthy!

All the Best!

Mark

TERM	POSTED	Best RATES*
6 Month	5.2%	5%
1 Year	5%	3.89%
2 Year	5.75%	4.34%
3 Year	5.75%	4%
4 Year	5.69%	4.19%
5 Year	5.79%	4.22%
7 Year	7%	5.9%
10 Year	7.35%	6.05%
Variable Rate		3.75%
Prime Rate		3%

* Rates are subject to change without notice.

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 drops Prime Rate .5%

The Bank of Canada dropped the prime rate today by 1/2% to .5% from 1%.

The major lenders followed suit and reduced their bank rates from 3% to 2.5% which means that variable rate mortgages instantly fall and most likely the major banks will be dropping short and long term mortgage rates over the next few days

Other news, the price of gold per ounce in USD was $913 today, down from just over USD1000 a week ago

This is the time to purchase real estate if you want a great mortgage rate

All the best
Mark
Sent from my BlackBerry device on the Rogers Wireless Network

Power of Sales Percentage Increase in past 2 years

I received another great email question and I thought I would share my answer with you.

Hi Mark,

Out of curiosity, what is your best estimate as to the % increase in foreclosures/powers of sale in the Oakville and GTA area over the last ~2 years?

I am 26 yrs old and in the market for a house (I will be getting married this summer). I first started searching for homes in 2007 realizing that prices were massively inflated. I've been waiting for these days of crumbling home values, and like you, I follow TREB statistics and plot them on a monthly basis to get a good indication of where the housing market is going. Hence, I was just wondering (as another 'indicator') what the approx. increase in foreclosures has been. I'll also mention that I am currently working as a mechanical engineer (in training), so as you can understand I do have a "technical" interest in the housing market :)

Any response would be helpful. Thanks.

Regards

MC

Hello MC,

Thank you for your real estate inquiry. Nice to hear you are getting a good education, nothing will replace that in your life !

POS properties have increased in Mississauga from about 40 to 43 at any one time to 50 to 55 at any given time, thus about 20%, on average.

Yes, average prices have fallen, but a great part of the drop is due to the upper valued homes dropping by 100k or more. The lower end of the market is still 'tight' so I don't see those prices falling much further than existing levels. Mortgage rates are at or near all time lows. You will only know that prices have bottomed about 2 to 4 months after they have bottomed, and that will be too late. Prices will have possibly escalated 5% or more by that time.

I can't predict more than 2 to 4 weeks in the future, but nobody knows the direction of our marketplace for sure, nobody. I think we may see a small increase this spring, then another drop in the summer and another rise in the fall. Where the absolute average price is in the fall is anybody's guess. Many are predicting another 5 to 10 drop, so hold on!

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?

Condo versus Freehold Townhouse- what about maintenance fees?

One common question that I see is regarding the maintenance fees on a condo townhouse. Many buyers ask for freehold townhomes, but condo townhomes can have low maintenance fees and there are other benefits too.

I hope this finds you Happy and Healthy!

All the Best!

Mark

---

This is the question I received from: GR
Subject: RE: townhomes

Thank you for getting back to me.

My only trepidation with condo townhomes is the arbitrary increase in maintenance fees that can happen. What range would you say the low maintenance fees are in?

thanks,

GR

__________________________

This is my answer to her question:

__________________________

Hi GR,

I understand your hesitation and have had other purchasers feel the same way. What I have found is that maintenance fees must be voted on by the board of directors and then the owners must ratify any increase. Normally, maintenance fees would only go up by 1 to 5% at about the most.

With the newer complexes they are fixed for the first 3 years and then escalate very slowly. The status certificate is a document that shows current and future budgets and will indicate any potential increase in maintenance fees over the next year and sometimes longer. Just depends on the range of the future budget.

Low maintenance fees would be in the range of about $90 to $175. I would think that higher maintenance fees are in the range of $250 and up. There are many complexes in Mississauga and surrounding areas that have low maintenance fees.

Also, the maintenance fee covers grass cutting, snow shoveling, garbage removal, common area lighting etc. Most important it covers your building insurance. Thus, you require less property insurance as you only need to insure your contents. I would say that you would save about $200 from your insurance premium in a condo townhouse versus a freehold townhouse, maybe more.

We will email you some listings with lower maintenance fees so you can see what you are getting into.

Thank you,

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 good news for Real Estate

RBC is reporting that they feel although our real estate market is soft and could soften, it will be nowhere near what has/is happening in the US

Interesting reading, to say the least!
Mark




The good and bad news for Canada’s housing market

The good and bad news for Canada’s housing market Canada’s housing market sagged in late 2008.

The number of units sold fell steadily from May 2007’s record pace and that the pace of decline picked up significantly in the fourth quarter of last year.

Prices peaked in December 2007 and were off 13% from that peak a year later.

Activity was slower in all regions; however, British Columbia stands out as the market that has come under the most significant downward pressure and Ontario’s housing market has also slowing
significantly, with sales running at 37% below the July 2007 peak July 2007 and prices off 11.7% from their December 2007 high.

Is Canada headed for a U.S. or U.K. housing market slump? While we expect Canada’s housing market to soften some more, we see limited scope for the correction to mirror the record-breaking housing slump in these other economies.

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 slips badly - Bank of Canada to ease more

More information as deemed from RBC about what the bank of Canada will do in the future, interesting statements!
Mark

Canada’s economy slips badly — Bank of Canada to ease more

• The sizeable 0.7% decline in November GDP highlighted that Canada’s economy faltered badly in the fourth quarter consistent
  with our call for an annualized 3.1% decline in the quarter. We are now also looking for a hefty 2.8% drop in first-quarter GDP,
  almost double the 1.5% decline we had previously expected.
• The bleak near-term outlook supported the Bank’s decision to cut the overnight rate by 50 basis points to 1.00% in mid-January
  and early 2009 data confirmed that the recession is building momentum.
• January’s employment report showing a massive 129,000 job loss and a spike in the unemployment rate to 7.2% put the icing on
  the cake for the case for the Bank of Canada to cut the policy rate. The beleaguered manufacturing sector bore the brunt of the
  weakness and cut 100,900 positions. We now look for the Bank to ease the policy rate to just 0.5% in March.

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 and Toronto Residents are blessed to have the CN Tower

This was a very interesting article about the CN Tower that was forwarded to me from a friend. I thought I would share it with you as millions of people from Mississauga and Toronto drive by the CN Tower and probably don't give it a moments thought anymore.



It's a fabulous achievement in engineering and construction and should always be looked upon as a great achievement for the GTA.



Enjoy!

Mark





THE WORLD'S TALLEST STRUCTURES



The reason for them dates back to what was probably emerging man's first intelligent perception - that the sun gives life. Through the entire span of known and unknown history, man has been driven by a primal urge to reach ever higher for the sky above. We build upward, reaching for the heavens when erecting a place to worship or building monuments to our prophets or, more recently, celebrating our mastery over the environment.



Man's upward reach has been limited by the materials he has available and the techniques he uses to manipulate them. Thus, the oldest surviving tall structures in the world are the pyramids of the Pharaohs of Egypt, who were revered as gods, or at least prophets on speaking terms with the gods. How these edifices were built remains a mystery locked forever in the past, but one thing seems clear: the Pharaohs played a stupendous status game, each one trying to build higher than the other as proof of his greater importance. (Much the same game, in fact, as several Canadian banks have played in downtown Toronto; each one is trying to top the other with a taller skyscraper.) At the time of its completion, each of the buildings and structures illustrated above was the tallest in the world.




THE BUILDING OF A LANDMARK



Building the tallest tower in the world produced unique construction and engineering problems, revolutionary solutions and a seemingly inexhaustible list of "the most..the biggest...the highest...the first..." But perhaps the most significant "first" was the technique devised to actually put up the concrete section of the tower. A 400-ton mould of the structure was built of wood and steel and in a round-the-clock operation, concrete mixed on the site was poured inside the mould as it moved, slowly but continuously, skyward. The tapering shape of the tower was created by reducing the size of the mould as it moved upwards. Tower construction began in the fall of 1972 when a drill rig trundled onto the John Street site and bored 300 feet down into the gray Dundas shale that supports most of Toronto. In February 1973, the earth moving behemoths of the modern construction industry arrived. More than 62,000 tons of earth and rock were removed in digging the main, 50-foot deep hole. Then, 18,000 tons of concrete and 500 tons of reinforcing steel were used to build the 22-foot thick foundation.



SKY POD



The seven-story building 1,100 feet above ground houses the microwave equipment on the lower floor, while the next three floors are open to the public, including an enclosed observation deck, a partially opened one, and the revolving restaurant. The top three floors are devoted to television transmitters, FM transmitters and, on the seventh floor, the monstrous pieces of mechanical equipment needed to power everything.











THE REVOLVING RESTAURANT



The 420-seat revolving restaurant is the world's tallest, with a diameter of 150 feet (the one at Australia square in Sydney, which is in second place, has a diameter of 122 feet) and that part of the floor that rotates has a top speed of eight feet a minute. That's so fast you might get indigestion, so it is slowed to five feet a minute for dinner, which means you can orbit the 450-foot circumference in 90 minutes. The 16-foot-wide moving platform runs on bearings so precisely designed that it is driven by one 2 hp electric motor, with a second as a spare. And if both break down, two strong men can push it.



COMMUNICATIONS



Originally, there were supposed to be a cluster of three separate antennas on top of the concrete tower. Had this plan been adopted, it is possible that the total height of the structure would not have topped that of the 1,761.89-foot-high Ostankino Tower in Moscow. Ultimately, however, communications engineers decided the most efficient design was one which stacked one kind of antenna atop another to make a single antenna 350 feet high. That slender five-sided needle atop the concrete shaft has finally rid the Toronto area of the worst television and FM-radio reception of any North American city. One part of the problem was that the fairly flat countryside is dotted with high-rise apartments and offices, so TV sets usually received two signals: a strong one from the transmitters and a weaker one "bounced" from those high-rise buildings. It was this "bounce" that caused TV screen ghosting.



ELEVATORS



Four elevators zip up the sides of the tower at 1,200 feet per minute, which means you go higher quicker than when taking off in a jet plane. Each elevator has a glass wall. Each elevator could hold 22 people, but the elevators are never quite full, partly because not everyone could see and partly because passengers might feel too confined. The speed was determined by an elaborate formula for "acceleration realization threshold" (the speed at which you know you're moving), so that it's fast enough to be fun and not too fast to be frightening or to cause heart attacks, nausea or fainting fits. However, it gives just about everyone an attack of Otitis-media, or ear popping, because of pressure changes. To alleviate this, swallow at least five times in the 70-second trip.



The tower also has a stairway, used in an emergency. A physically fit person would take 20 minutes to get down the 2,570 stairs in the hexagonal core, and at least 40 minutes to climb up. When the stairway - the world's tallest made of concrete - was finished, one construction worker shucked his clothes and "streaked" the tower from top to bottom. Yet another tower record.



LIGHTNING



Lightning strikes the tower between 150 and 200 times a year, which means it is also the world's tallest free-standing lightning rod. Lightning conductors atop the tower are linked to three copper strips that run down the tower and are grounded to forty-two rods, each 20 feet long and buried 20 feet below ground.The stairs, elevator rails, window frames, sewage, water pipes and anything else that could attract lightning are linked to the copper strips. ICING Anywhere ice is likely to form - at any change in the tower contour line, or places like the roof edges of the Sky Pod - has been ice-proofed, either with heated de-icing cables or sheathed in shiny plastic to which ice cannot cling. The fiberglass surface and the shape of the transmission mast means that ice will never build up to a dangerous thickness and fall to the ground in chunks but will, instead, slide off and break itself into powder-like snow almost as soon as it's formed.



FIREPROOFING



Don't expect to get a steak flambéed at table side at the revolving restaurant. The fire department has forbidden open flame cooking up in the tower. In fact, the planners and the fire marshal have gone to extraordinary lengths to make the tower fireproof. Each steel floor has a coating of a fire-resistant mineral fibre, and all furnishings are as fireproof as any furniture can be. The main kitchens, where open-flame cooking is permitted, are in the basement. Also located there are the emergency fire pumps than can each squirt water to the top of the tower at the rate of 500 gallons a minute. A sprinkler system is located everywhere. Since electrical transformers have been known to explode into flames, the seven installed in the tower are immersed in a non-flammable fluid instead of the customary oil.











STABILITY



Unlike a jumbo jet that moves mostly through the upper "smooth" layers of air and is grounded in bad weather, the CN Tower must survive turbulent, treacherous winds and was built to withstand twice as strong a wind as Toronto will ever see. Weather records show 114 mph as the top wind speed in the last century. The tower was built to withstand a wind of 160 mph. At 110 mph, a wind exerts 60 pounds of pressure where it hits windows in the accommodation pod. At the sides, it exerts a 60-pound negative pressure. So experts designed windows that can withstand 120 pounds of either kind of stress. The outside pane is three-eighths of an inch thick tempered glass, the inside pane is half an inch thick. The main concrete tower - 53,000 cubic yards of concrete "tied" together with 80 miles of steel cable - would only wobble 10 inches from side to side, and the movement would be so slow you wouldn't even notice a change in the level of the champagne in your glass (that is, presuming you'd been stupid enough to go out to dinner in such weather in the first place).



TOWER ATTRACTIONS



CN Tower Limited decided it was vital that the $52 million tower be an ultimate tourist attraction in order to ensure it was self-supporting financially, as well as structurally. The tower has become a North American landmark and a tourist attraction unrivaled in Ontario, perhaps even Canada, other than Niagara Falls. At the base of the tower, past the gardens and the fountains and pools, is a unique shop specializing in CN Tower souvenirs and Canadiana which, at one time, included the souvenir medals and medals used for keychains and necklaces struck by Interbranch International Mint. The elevator ride is in itself super-spectacular. Short of piloting a jet fighter, there's nowhere else in the world you can climb so high so fast, and the main observation decks in the Sky Pod are so high you have the uncanny feeling you're looking down on the world from a plane. On those decks are six telescopes with 20.1 zoom lenses, which means that by operating the controls you can magnify what you see with the naked eye from 10 to 200 times. But for many, the greatest attraction is the view from The Space Deck observation platform. There's nothing further up but the antenna and the sky. The observation deck has floor-to-ceiling windows that lean outwards so that you feel as though you are perched on the edge of..well, nothing.



IF ANYONE ASKS



The tower weighs 130,000 tons, which is twice as heavy as the world's biggest luxury liner and about the same weight as 23,214 large elephants.



Fifty-three thousand cubic yards of concrete were poured to build the tower - and that's enough to build a concrete curb along the 401 from Toronto to Kingston, 150 miles away.



The tower has the longest concrete staircase in the world. It has 2,570 steps.



Even the lower observation platforms are so high that you can see south to Rochester, New York and the far shore of Lake Simcoe to the north.



You can also see the eternal cloud of spray that looms over Niagara Falls.



The elevators up to the Sky Pod are capable of carrying 30,000 people a day, or 10,950,000 a year, counting Sundays and Christmas Day. At that rate, however, the place gets a bit crowded.



Between the Sky Pod and the uppermost observation platform there is a special shuttle elevator.



It takes you up to the 1,450 foot level, which makes it the highest elevator ride in the world.



There is a fee charged to take the elevator to the observation decks, except when you are going up to the revolving restaurant for dinner and you have made an advance reservation.



The CN Tower's souvenir shop ran out of the souvenir medals ordered from Interbranch International Mint at least 20 years ago.

What happens if a buyer does not close on a real estate sale?

This is a common question that I receive from sellers that I deal with, such as "what happens in the event when the purchaser does not have the funds upon closing and will not have the funds, regardless of any extensions"

Please understand that I am not a lawyer and cannot give legal advice to this question, this is a question for a lawyer to answer in full. I can shed some light on my experiences and teachings with such matters.

If the purchaser does not close on a sale on the agreed upon date, then it's incumbent upon the seller to put the property back on the market and try and resell at the best price and terms. In law, it's called, you have to "mitigate your damages". This means that you, the seller, has to try and reduce any potential loss you may incur when you resell. If there is a shortfall from the second sale compared to the first and you may incur extra costs, the seller would go after the first buyer for costs and additional out of pocket expenses.

Then there is the issue of the deposit that my real estate company is holding in trust for the buyer. It remains in our real estate trust account until one of the following occurs.

My teaching and experience regarding closings that fail is that there are 3 'typical' methods that a deposit comes out of trust.

1. If there is a successful sale
2. if there is a mutual release and
3. if there is a court order

There are others, but these are the main methods. Thus, if you sale does not close, you attempt to resell, any loss you incur you will attempt to go after the money in trust and attempt to negotiate with the first buyer to cover these costs.

On the mutual release you and the original buyer would agree to an amount of the deposit that comes to you and an amount that goes back to the buyer. If you cannot agree on the terms of the mutual release, you would have to go to court and sue the buyer for what is called 'specific performance' since the buyer did not consummate the sale.

Again, I am not a lawyer and you should ask your lawyer to further clarify what happens if a sale does not close.

Thankfully, this situation of a buyer not closing does not happen too frequently in real estate so we don't have to deal with it too often.

I've been in the real estate business for just over 21 years and this has never happened to any of my sales over the course of my career in real estate.

Thank you,

Mark

5 financial strategies to bolster your bottom line in uncertain times

I agree with all these 5 ideas, everyone should follow this philosophy!Problem is, when you are saddled with debt, it's difficult to do these things, but do what you can, you will be thankful in the future!All the Best!Mark
Scotiabank offers Canadians five financial strategies to bolster their bottom line in uncertain times

TORONTO, Dec. 29 /CNW/ - With holiday shopping and gift giving behind us and the New Year just ahead, now is the perfect time for people to take stock of their financial situation. While current economic conditions are challenging many Canadians to re-think their budget, Scotiabank has some practical suggestions to help households shore up their financial position.

1. Don't panic or make emotional decisions. One way to avoid the trap of leaping before you look and making financial or investment decisions you'll regret in the long run, is to manage stress by paying attention to your physical and emotional fitness. If you don't have a financial plan, now is the time to get one that emphasizes debt management andmap out your short and long term goals. Focusing on those goals will help you maintain perspective.

2. Pay down debt. Start by tackling consumer debt such as higher rate department store and other credit cards. Inform yourself about interest rates and options, such as a consolidation loan, that will help you free up cash for other priorities such as investing or paying down your mortgage.

3. Reduce your discretionary spending so you can redirect more money to debt repayment or savings. Review your household budget to track how much money is coming in, what your fixed expenses are and identify things you're spending money on that you could live without. For example, pack your lunch rather than eating out every day, cut back on magazine subscriptions or visit the library more often rather than buying books all the time. Then consider setting up an automatic savings plan so that the money you're saving comes straight out of your bank account. Before long, chances are you won't even miss it.

4. Make an RRSP contribution and then use your refund to help manage competing financial priorities. The refund could be used to pay down high cost debt, make an extra mortgage payment, open a new Tax-Free Savings Account (TFSA) or contribute to your child's Registered Education Savings Plan (RESP). Borrowing to make an RRSP contribution makes good fiscal sense if you are confident that you can pay the loanback relatively quickly.

5. Position your investment portfolio for recovery - but diversify to manage risk. Remember that when markets are down, there are investment opportunities that can potentially benefit your portfolio in the long term. Be diversified with an appropriate mix of asset classes (equity, bonds and cash equivalents) that fit your risk tolerance, investment time horizon and income requirements. Stay in regular contact withyour financial advisor to ensure your portfolio is appropriately balanced to meet your needs, manage risk, and to offset market fluctuations.

Scotiabank offers some finacial advice for Canadians

These are some of the items that Scotiabank has offered to Canadians in order to improve their financial situation. Some of these are fine ideas and I would agree that if you follow them, you will have a solid financial plan.

Enjoy

All the best in 2009!
Mark


Scotiabank offers Canadians five financial strategies to bolster their bottom line in uncertain times

TORONTO, Dec. 29 /CNW/ - With holiday shopping and gift giving behind us and the New Year just ahead, now is the perfect time for people to take stock of their financial situation. While current economic conditions are challenging many Canadians to re-think their budget, Scotiabank has some practical suggestions to help households shore up their financial position.

1. Don't panic or make emotional decisions. One way to avoid the trap of leaping before you look and making financial or investment decisions you'll regret in the long run, is to manage stress by paying attention to your physical and emotional fitness. If you don't have a financial plan, now is the time to get one that emphasizes debt management and
map out your short and long term goals. Focusing on those goals will help you maintain perspective.

2. Position your investment portfolio for recovery - but diversify to manage risk. Remember that when markets are down, there are investment opportunities that can potentially benefit your portfolio in the long term. Be diversified with an appropriate mix of asset classes (equity, bonds and cash equivalents) that fit your risk tolerance, investment time horizon and income requirements. Stay in regular contact with
your financial advisor to ensure your portfolio is appropriately balanced to meet your needs, manage risk, and to offset market fluctuations.


3. Pay down debt. Start by tackling consumer debt such as higher rate department store and other credit cards. Inform yourself about interest rates and options, such as a consolidation loan, that will help you free up cash for other priorities such as investing or paying down your mortgage.

4. Make an RRSP contribution and then use your refund to help manage competing financial priorities. The refund could be used to pay down high cost debt, make an extra mortgage payment, open a new Tax-Free Savings Account (TFSA) or contribute to your child's Registered Education Savings Plan (RESP). Borrowing to make an RRSP contribution makes good fiscal sense if you are confident that you can pay the loan
back relatively quickly.

5. Reduce your discretionary spending so you can redirect more money to debt repayment or savings. Review your household budget to track how much money is coming in, what your fixed expenses are and identify things you're spending money on that you could live without. For example, pack your lunch rather than eating out every day, cut back on magazine subscriptions or visit the library more often rather than buying books all the time. Then consider setting up an automatic savings plan so that the money you're saving comes straight out of your bank account. Before long, chances are you won't even miss it.

Read more about:

• Interest Rates
• Power of Sale Properties
• Price Trends
• or Search the MLS and more at my website

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

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

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
›mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

• Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
• On-Line Real Estate Newsletter sign up
• See seasonal housing patterns

RBC reports lower inflation equals lower interest rates

RBC is reporting that since the inflation figures are lower than expected, this gives the bank of Canada more room to lower interest rates to help the economy.

Should be interesting to see what the next rate announcement holds!

Lower inflation gives central banks room to manoeuvre

The slowing pace of growth in the world economy and falling commodity prices have led to a sharp reduction in inflation forecasts. Inflation rates in Canada, the United States, the United Kingdom and Eurozone countries are forecast to fall to 0.5% to 2% range after hovering between 3.5% to 5.5% this summer.

The prospect that inflation pressures will continue to abate has opened the door for central banks to skew policy to tackling the problem of a sustained slowing in economic growth by cutting interest rates.

After a co-ordinated 50 basis-point rate cut on October 8, central banks of all four countries continued to ease independently. While some central banks are near the end of the rate-cutting cycle, there is more scope for the ECB and the Bank of England to ease monetary policy further in an attempt to limit the downward pressure on their economies and temper the effect of tight credit conditions. Central banks have also continued

US economy is slipping further

RBC has reported that the US economy is slipping deeper into recession

U.S. economy slipping off the brink

The U.S. economy contracted by one-half of one percentage point in the third quarter with consumer spending declining at the steepest pace in 28 years and business spending softening. Export growth slowed and the widespread weakening in global economic activity sets up for a further deterioration in the fourth quarter of this year.

With these conditions persisting early in the fourth quarter, we expect an even heftier decline in real GDP in that quarter.

The tightening in lending standards that is making borrowing more difficult and expensive is setting the stage for consumer and business spending to contract further. Consumers are also facing deteriorating balance sheets and growing job losses.

This would mark two consecutive quarters of declining activity, although the National Bureau of Economic Research (NBER) did not bother to wait and has already indicated that the U.S. recession commenced December of last year on the basis of weakening labour markets since the start of 2008.

RBC reports Housing downturn — Canadian-style

This is a report from RBC about the housing slump that we are currently experiencing here in Canada.

It appears that our markets have softened considerably and it will be interesting to see what happens with our real estate markets over the next few months.

I hope this finds you healthy and happy,
Mark

Housing downturn — Canadian-style

Canadians have watched with amazement for nearly two years now at the collapse of the housing sector in the United States, the United Kingdom and other countries that experienced overvalued housing prices with the sense that markets in this country stand on much more solid ground. After all, the sub-prime business never represented more than a marginal phenomenon here;

Canadian households, while carrying heavier debt loads than in the past, were not financially overstretched; Canadian banks emerged islands of stability amid the global financial storm; incomes remained well supported by steady job creation and a strong domestic economy; and the influence of speculation — especially on new construction — was deemed to be subdued.

-Then, late in 2007, red-hot Alberta markets began to slide, followed earlier this year by British Columbia's markets. Most recently, Saskatchewan, last year's hotspot, and areas in Ontario joined the weakening trend.

All of a sudden, Canada no longer appeared immune to a generalized housing downturn. In fact, the souring of economic conditions, eroding consumer confidence and, in some instances, past excesses are creating a downdraft that the majority of Canada's housing markets will be hard-pressed to resist.

-However, high home ownership costs are not unique to western Canada. RBC's affordability measures lie above long-run averages in all provinces and across all housing segments, which suggests that the downdraft will be felt widely.

-Still, the extent of "unaffordability" varies substantially by province, with measures running as high as 48% above average in the B.C. standard townhouse segment and as low as 6% above average in the Quebec detached bungalow segment. Overall, British Columbia, Saskatchewan and Alberta remain the least affordable markets in Canada (relative to their respective historical norms).

-As a sluggish economy threatens income growth and makes households much more skittish about major financial commitments, issues of affordability are coming to the fore. Much of the market correction taking place in British Columbia, Alberta and, now, parts of Saskatchewan can be traced to very poor affordability levels in those provinces.

-While the Canadian housing sector is undoubtedly entering a cyclical downturn, the risk of experiencing a U.S.-style meltdown is remote. The supportive factors mentioned above are still mostly in play and should provide enough backing to prevent markets from spiraling down even as the Canadian economy slips into recession.

Canadians will not experience the same market meltdown that the US has experienced

This is a nice summary of why we will not experience the same market meltdown that the US has experienced.
Enjoy,
Mark

The Canadian economy continues to thrive with a high employment rate, a strong dollar and a relatively low cost of borrowing.

In fact,more first-time purchasers are expected to take advantage of the reasonably low mortgage rates, longer amortization periods and subsequently more affordable monthly mortgage payments.

If you've been holding off making a move, wondering if Canada will follow in the turmoil of the U.S. real estate market, rest assured that the problems stemming from the U.S. "subprime meltdown" do not necessarily apply to the Canadian real estate market.

For one thing, the mortgage products offered in Canada are different than those offered to our neighbours to the south. In addition, our subprime market is just a small part of our mortgage market, so the extent of any problems within that market do not affect our overall economy as in the United States.

Read more about:

• Interest Rates
• Power of Sale Properties
• Price Trends
• or Search the MLS and more at my website

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

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

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
›mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

• Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
• On-Line Real Estate Newsletter sign up
• See seasonal housing patterns

CMHC report on New Home Market

This is the latest report by CMHC regarding the new homes market, there is a dichotomy!

This is likely my final post for 2008. I wish you a Happy New Year and all the best to you and your family in 2009.

Thank you,

Mark

New Home Market

Housing Starts Moderate

The seasonally-adjusted annual rate (SAAR) of total housing starts dipped below trend in November for the Toronto Census Metropolitan Area (CMA).

In response to higher home prices, comparatively less expensive high-rise home types have been increasingly popular.

Total home starts on an unadjusted basis were almost 25 per cent above last year’s level for the January through November period. Condominium apartment starts remained the driver – up by over 130 per cent.

Starts for all low-rise housing types were down compared to the same period last year, while apartment starts were up.

The dichotomy between high-rise and low-rise home construction remained in place year to- date through November.

New Real Estate and World Economy

Some personal thoughts as we end a miserable econonic year for the stock markets and the economy in general.

We are into a new type of world economy

The US still leads but is no longer the force it once was, so not all follow US lead anymore

Greed will always prevail, so gold should be good for short run, there will be another disaster in the future that will cause a spike and that may be the time to unload

This is why the stock markets fluctuate 10% in a day and nobody blinks an eye anymore

Real estate does not follow 7 year cycles any longer, we just finished a 13 year cycle here in Toronto, interest rates are at historic lows, inflation is low, oil is low, wages are still too high

The future is indeed uncertain, the US will NOT go bankrupt and we will be out of this mess by mid 2010, the problem is that we have not hit bottom yet and there is $uch more pain to come

We've had these cycles before, we must hit despair before we can have hope

Obama will brighten things a little and give us hope

As for precious metals I think that zirconia looks just as nice as diamonds!

Enjoy the winter and all the best to you and your family in the New Year!
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

test post since having publishing problems

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

Gasoline Prices following the economy down!

Gasoline prices are reaching levels we have not seen in many years. The current price at the pump as of December 28 2008 is about 66.4 cents/litre in and around the GTA. This is exceptionally low compared to prices of late. We paid $1.49 per litre for gasoline at the pump located at the Port Credit Harbour Marina in mid August!

See the graph below to see how prices have fallen

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

Mortgage Interest Rates are still falling

You can see the rates below are slightly lower than the rates that I posted here on my blog a week ago, this is good news for those that are thinking of buying or refinancing their mortgage in the next while.

I hope this finds you happy and healthy!
Mark

TERM	POSTED	Best Obtainable RATES*
6 Month	5.90%	5.89%
1 Year	5.60%	4.00%
2 Year	6.25%	4.94%
3 Year	6.25%	4.84%
4 Year	6.09%	4.79%
5 Year	6.75%	4.72%
7 Year	7.20%	5.80%
10 Year	7.55%	5.95%
Variable Rate		4.10%
Prime Rate		3.50%

* Rates may vary and are subject to change without notice.
Rates Last Updated: Friday, December 26, 2008

Enjoy,

Mark

CONSUMER PROTECTION Act and Real Estate in Ontario

CONSUMER PROTECTION ACT

The Consumer Protection Act, like the previous legislation. the Business Practices Act. is designed to prohibit unfair practices in sales to consumers.

Although the Act does not affect representations made during the course of selling "real property,'' it does apply to real estate brokerages when representations are made during the course of selling goods and services'' to consumers.

A seller or buyer who complains, under this Act. that there has been an unfair practice in the selling of the registrant's
services, may cancel the contract sue for damages, and/or one a complaint with the Consumer Protection

Branch of the Ministry of Government Services. The type of contract that may be cancelled would therefore be a ''service'' or representations agreement.

Real property, as such, is not included in the definition of goods, however, registrants are affected when providing services: e.g.. listing, representing buyers, appraising, and arranging financing. For example. if a listing or buyer representation agreement is obtained through the use of an unfair practice as deamed by the Act the seller or buyer is entitled to rescind the contract.

An unconscionable consumer representation made in respect of a particular transaction is determined by various considerations. An unconscionable consumer representation occurs if the person making the representation or the employer knows or ought to know: ''

. that the proposed transaction involves or does not involve rights, remedies. or obligations if the indication is false or misleading;

that uses exaggeration. innuendo, or ambiguity as to a material fact or fails to state a material fact if such use or failure deceives or tends to deceive; or

* that misrepresents the purpose or intent of any solicitation of or any communication with a consumer.

Unfair Practices

Unfair practices are grouped under False and an unconscionable consumer representations. A false, mts fading, or deceptive consumer representation includes, but is not limited to, a representation: . that the goods or services have sponsorship, approval. performance characteristics, and benefits or quantities that they do not have; . that the person who is to supply the goods or services has sponsorship. approval, status, affiliation, or connection that he/she does not have;

* that a specific price advantage exists, if it does not;

. that misrepresents the authority of a salesperson,
representative, employee, or agent to negotiate the
final terms of the proposed transaction;

. that the consumer is not reasonably able to
protect his/her interests because of his/her
physical infirmity, ignorance, illiteracy , inability to
understand the language of an agreement, or
similar factors;

. that the price grossly exceeds that at which similar
goods or services are readily available to like
customers;

. that the consumer is unable to receive a
substantial benefit for the subject matter of the
consumer representation;

. that there is no reasonable probability of payment
of the obligation in full by the consumer;

. that the proposed transaction is excessively onesided
in favour of someone other than the
consumer;

. that the terms and conditions of the proposed
transaction are so adverse to the consumer as to
be inequitable;

* that he/she is making a misleading statement of
opinion that the consumer is likely to rely upon to
his/her detriment; or

that he/she is subjecting the consumer to undue
pressure to enter into the transaction.
Session .3 * Legislation & Current Issues

Complaint Procedures

The consumer may complain of unfair practices, for
example. in the case of a seller who claims to have
signed a listing because of undue pressure. Several
alternatives are available in such cases


The seller may rescind or cancel the contract which would terminate the listing upon giving a written notice to the agent, personally or by registered mail, within six months after the agreement was signed

The seller is also entitled to any remedy available
at law including damages that may be ordered by
a court for fraudulent or negligent
misrepresentation or for breach of the duties of
an agent.

If rescission is not possible (property is sold and a
selling agent may be entitled to payment under
the agreement), the seller can recover the amount
of commission paid that exceeds the fair value of
the service. or damages. or both. The court can
also award exemplary or punitive damages.

The seller has another avenue that involves filing a
complaint with the Consumer Protection Branch of
the Ministry of Government Services. An
investigation, search of business premises, removal of
records for copying, and other administrative
procedures may follow. Such a complaint may include
the issuance of an order by the Director of the

Consumer Protection Branch requiring compliance. A
breach of the Act or failure to comply with the
Director's order may result in prosecution. To access
the Consumer Protection Branch

I hope this finds you happy and healthy,
Mark

Current Canadian National Mortgage Interest Rates

See the current rates below

NATIONAL MORTGAGE RATES
Term	Posted Rates*	Best Rates*
6 Month	5.90%	5.90%
1 Year	5.60%	4.35%
2 Year	6.25%	4.99%
3 Year	6.25%	4.99%
4 Year	6.09%	4.85%
5 Year	6.75%	4.99%
7 Year	7.20%	5.80%
10 Year	7.55%	5.95%
Variable Rate		4.10%
Prime Rate		3.50%
* last updated: Dec 22, 2008

Enjoy,
Mark

Bullion prices and the real estate market

I had a question from a reader:

USD is weakening, the entire country is Bankrupt, lots of the major Banks, Auto Manufacturers, Insurers, Savings & Loans, Thrifts, and sub trade suppliers are all on the verge.
Therefore, why is it that Gold and Silver as well a most precious metals and Diamonds, which are usually the safe havens in these recessionary times, are also slipping in price.
Usually they will, as history has shown, increase by up to 20 times the price.
Now they are all going down the slope together.............what gives??.
N.

Dear N.

We are into a new type of world economy

US still leads but is no longer the force it once was, so not all follow US lead anymore

Greed will always prevail, so gold should be good for short run, there will be another disaster in the future that will cause a spike and that may be the time to unload

This is why the stock markets fluctuate 10% in a day and nobody blinks an eye anymore

Real estate does not follow 7 year cycles, interest rates are at historic lows, inflation is low, oil is low, wages are still too high

The future is indeed uncertain, the US will no t go bankrupt and we will be out of this mess by mid 2010, the problem is that we have not hit bottom yet and there is much more pain to come

We've had these cycles before, we must hit despair before we can have hope , see this graph:
http://www.mississauga4sale.com/Market-Emotions-Cycle.htm

Obama will brighten things a little and give us hope

As for precious metals I think that zirconia looks just as nice!

Enjoy the snow!

Mark

Real Estate Humour

More Real Estate Humour to laugh at, enjoy! Mark

• I have a temporary mortgage. What do you mean temporary? Until they foreclose.
• The sellers told me their house was near the water. It was in the basement.
• My buyers went through debt consolidation. Now they have only one bill they won't pay.
• If you think no one cares you're alive, miss a couple of house payments.
• I listed a maintenance free house. In the last 25 years there hasn't been any maintenance
• Did you hear about Robin Hood's house? It has a little John.
• My agent was always smiling. I didn't think anybody could have that many teeth without being a barracuda.
• If you want to know exactly where the property line is, just watch the neighbor cut the grass.
• A lot of homes have been spoiled by inferior desecrators.--Frank Lloyd Wright
• This country is great. It's the only place where you can borrow money for a downpayment, get a 1st and 2nd mortgage and call yourself a homeowner.
• A man's home is his castle. That's how it seems when he pays taxes on it.
• By the time you pay for a home in the suburbs, it isn't.
• A Modern home is a place where a switch controls everything but the kids, and it has gadgets to do everything except make the payments

• Realtor sign--We have "lots" to be thankful for.
  
• Realtor: first you folks tell me what you can afford, then we'll have a good laugh and go on from there.
  
• Trivia: The floors of buildings are called stories because early European builders used to paint picture stories on
  the sides of their houses. Each floor had a different story.
  
• I bought a two story house. One story before I bought, and another after.
  
• A housewarming is the final call for those who haven't sent a wedding present
  
• Sign next to FSBO-We shoot every third agent and the 2nd one just left.
  
• The trouble with owning a home is that no matter where you sit, you're looking at something you should be doing.
  
• Our new house has one down payment and 240 darn payments.
  
• Home inspector bringing a ladder into the house, can I help you carry something asks the agent? Yes, my mortgage.
  
  All the best!
  Mark
  

Banks are aggressively pricing their 1 and 5 year closed terms

The banks have been posting adjustments to their rates during the past few days. Many seem to be aggressively pricing the 1 & 5 year closed terms.

The next Bank of Canada rate announcement is scheduled for January 20th, 2009.

The lenders continue to offer rate holds, in many cases up to 120 days. If you are looking at properties, I strongly suggest that you arrange a preapproval / rate hold.

It's also a great opportunity for you to learn more about mortgage options - you'll have a chance to digest the information & it will simplify the process when you have an offer to purchase on the table.

You can become pre-approved with no cost or obligation.

Posted Interest "BEST" Rates
December 12, 2008

Prime................3.50%

Variable rate....Prime plus .60%

1 yr closed........4.35%

2 yr closed........5.05%

3 yr closed........5.15%

4 yr closed........4.89%

5 yr closed........4.99%

7 yr closed........5.80%

10 yr closed......6.10%

Read more about:

• Interest Rates
• Power of Sale Properties
• Price Trends
• or Search the MLS and more at my website

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

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

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
›mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

• Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
• On-Line Real Estate Newsletter sign up
• See seasonal housing patterns

More trivia fun!

Below are some interesting facts and fascinating trivia. We live in a very complex
world that is filled with nuances that one does not normally consider or
think of.

These items below will make you wonder who took the time to even think of them! Certainly, I am not taking the time to check the truth in any of these items!

Enjoy, Mark

Stewardesses" is the longest word typed with only the left hand And
"lollipop" is the longest word typed with your right hand.

No word in the English language rhymes with month, orange, silver, or
purple.

"Dreamt" is the only English word that ends in the letters "mt".

Our eyes are always the same size from birth, but our nose and ears never
stop growing.

The sentence: "The quick brown fox jumps over the lazy dog" uses every
letter of the alphabet.

The words 'race car,' 'kayak' and 'level' are the same whether they are read

left to right or right to left (palindromes).

There are only four words in the English language which end in "dous":
tremendous, horrendous, stupendous, and hazardous.

There are two words in the English language that have all five vowels in
order: "abstemious" and "facetious.

TYPEWRITER is the longest word that can be made using the letters only on
one row of the keyboard.

A cat has 32 muscles in each ear.

A goldfish has a memory span of three seconds.

A "jiffy" is an actual unit of time for 1/100th of a second.

A shark is the only fish that can blink with both eyes.

A snail can sleep for three years.

Almonds are a member of the peach family.

An ostrich's eye is bigger than its brain.

Babies are born without kneecaps. They don't appear until the child reaches
2 to 6 years of age.

February 1865 is the only month in recorded history not to have a full moon.

In the last 4,000 years, no new animals have been domesticated.

If the population of China walked past you, 8 abreast, the line would never
end because of the rate of reproduction.

Leonardo Da Vinci invented the scissors

Peanuts are one of the ingredients of dynamite!

Rubber bands last longer when refrigerated.

The average person's left hand does 56% of the typing.

The cruise liner, QE 2 moves only six inches for each gallon of diesel that
it burns.

The microwave was invented after a researcher walked by a radar tube and a
chocolate bar melted in his pocket.

The winter of 1932 was so cold that Niagara Falls froze completely solid.

There are more chickens than people in the world.

Winston Churchill was born in a ladies' room during a dance.

Women blink nearly twice as much as men.

If you live in Peel region you may qualify for downpayment assistance

Did you know that 1st time buyers who live in Peel may qualify for assistance from the government for their downpayment.

Did you know....1st time buyers, living in Peel may be eligible to receive down payment assistance from the Government of Ontario?

The program is designed to help provide low-to-moderate income residents (who currently rent) the opportunity to qualify for a down payment loan when buying a home in Peel Region.

Quick facts:

• Buyer must be currently renting;
• Annual household income can not exceed $75,800;
• Purchase price (resale property) not to exceed $247,000;
• Property being purchased must be used as principal residence;
• Qualifying applicants can receive up to $10,000;
• Client needs to qualify & arrange for a mortgage;
• Client required to cover all closing costs from own resources;
• Repayment terms depend on length of time home is owned etc. ..see website.

Please refer to: www.peelregion.ca/homeinpeel for full details.

This program will make first time buyer home buying more accessible.

Looking forward to assisting you in growing your business.

Please let me know how I can help.

Thanks

Mark

Last Recession in GTA lasted 12 years

The last time we had a recession in the GTA real estate market was 1990. The fall in prices began in the spring of 1990 and continued for many years.

The average prices in the GTA did not recover until 2002, 12 years later!
We are not predicting or even expecting such a price decline in the future, but this is a very chilling statistic.
I wish you and your family 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

Up or down? GTA homes on the market

I had another good question from a reader of my blog and I wanted to share my answer with you.

The question was:

Hello,

Just one question. It mentions in the article that the sales volume has decreased by 50%. Are the number of homes up for sale down as well this year, month?

Hi John,

Good questions. The number of homes currently on the market is higher than the previous month. The number of homes on the market in November of 2008 was 9,925 and was lower by 7% compared to November of 2007 which had 10,692 homes for sale.

The key figure in all this is that the average time on the market has increased dramatically year over year. In November of 2007 average days on the market was 32 and November of 2008 was 41. This is a significant increase in days on the market and also points to our slowing real estate marketplace.

The Bank of Canada dropped prime 3/4% today (December 9th, 2008) and of course the banks are following, except they are only dropping bank prime 1/2% so the new bank prime will be 3.5% rather than 3.25% Nice isn't it, they will make a 1/4% extra profit on billions of loans that they have.

I hope this helps.

Thanks,
Mark

Winterizing Outside Water Faucets Reminder

This is a reminder to make sure you have winterized your outside faucets!

Please make sure that the water line that runs to the faucet into the garage and the water line that runs to the faucet at the back of the house is turned off from inside the house. This is critical in the event of the outside pipe or outside faucet freezing.

The normal procedure for winterizing outdoor faucets is to close the valve on the inside of the house which is usually located a couple of feet from the wall where the water line runs outside to the faucet. Once this inside valve is closed, the faucet outside should be opened fully so any water remaining inside the pipe will drain to the outside. You can leave this faucet open all winter if you wish.

There is usually a small drain plug that is located on the side of the inside valve that leads to the outside faucet. This drain plug should be unscrewed and this will allow any trapped water to drain out. Make sure you have a bucket handy to catch the water that drains out. This picture below shows the inside valve with the drain plug.



If you have any questions, please let me know.

Thanks,
Mark

is a furnace and hot water tank a chattel or fixture?

I received another question that I thought I would post here:

Hi Mark,

I found your website interesting and very informative. As I read the first page I was wondering as a first time home owner, if I get an agent in our area to make an offer are the furnace and water tanks considered chattels?

Thank you for your time,
Regards,
H.

Hello H.,

That's a good question. Typically, hot water heaters are chattels and must be specified as such. Some lawyers say that water tanks and furnaces are chattels and must be specified in the agreement of P&S Always err on the side of caution and you will be fine!

Thank you,

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?

CMHC report GTA resale real estate market performance in 2009

Here are some highlights and thoughts taken out of the latest CMHC report on how our real estate market will perform in 2009

It's interesting to note that CMHC is still predicting growth for next year.

All the best,
Mark



From CMHC's perspective, how do they think the GTA resale residential home market perform in 2009?

• Increased resale market choice will result in less spill over demand in new home sales.
• GTA's resale home price in 2009 has been forecasted to moderately grow by 1.8%.
• GTA's MLS Sales are going to be strong from a historical standpoint.
• GTA's low rise sales trends will continue to lower according to RealNet Canada Inc. & CMHC forecasts.
• High rise sales will moderate but remain robust.
• Moderate growth in wages across the GTA has been forecasted by statistics Canada, Bank of Canada and CMHC to increase by 2.6%.
• Rising condominium completions will trigger more MLS listings.
• Homebuyer intentions for rental households will be lowered.
• Increasing choice in the resale home market will result in moderate price growth
• Price trend is flattening as average GTA existing home prices are going to stabilize.
• Resale market will be more balanced according to sales-to-new listings ratio.
• Condominium apartments will be popular as high rise sales. Share of high rise sales, as a percentage of total sales, has been forecasted to be 60% in 2009 compared to 58% in 2008.
• More supply in the condo market will result in more moderate price growth.

Drivers of Housing Demand, Economic Conditions & Interest Rate Outlook:

• Homeowners have accumulated equity in their homes across the country & the strongest accumulation of equity built was in Western Canada where homes appreciated more rapidly back in 2007.
• Immigration will continue to compensate for weaker growth from other sources & GTA will be the key beneficiary of immigration.
• Given the tight labour market, growth in disposable income will remain strong.
• Mortgage Rates will remain low, but will edge slightly higher late in 2009
• Foreign-born population as percentage of total population is 45.7% in Toronto.
• Home ownership is a key goal for immigrants & therefore rate of home ownership will increase.
• Tight labour market means job growth will moderate
• The share of mortgages in arrears is near its most moderate level since 1990
• Home owners in Ontario, Quebec, and the Atlantic Provinces have also built considerable equity in their homes.

Housing Outlook Summary

• MLS sales are expected to moderate from record levels in 2008 and 2009 and housing starts will move more in line with demographic fundamentals.
• Economic fundamentals will remain strong in Canada. High employment levels, rising incomes and low mortgage rates will provide a solid foundation for healthy housing markets. However, increased supply of existing homes listed for sale coupled with the rise in house prices in recent years will moderate the demand for housing in 2008 & 2009.

Read more about:

• Interest Rates
• Power of Sale Properties
• Price Trends
• or Search the MLS and more at my website

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

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

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
›mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

• Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
• On-Line Real Estate Newsletter sign up
• See seasonal housing patterns

Home Staging and open house Checklist items just before

Last Minute Home Staging Checklist for an Open House

1. Clean up your house! – make sure everything is clean and tidy, including windows and mirrors.
2. Wipe down all yoru main sinks and bathtubs. When they are dry, they will look cleaner. No dirty dishes in the sink.
3. Declutter – remove everything from counters, tables, floors, etc. except the items you are using to accessorize.
4. Put away any your valuables; money, jewelry, credit cards, personal information, medications.
5. Depersonalize the house as much as possible – remove all toiletries, grooming products, photographs, diplomas, awards, trophies, collections.
6. I don't necessarily agree with this one
   Also remove anything of a religious, ethnical or political nature.
7. Open all blinds and window coverings; you want the house to light and bright.
8. Turn on all the lights in the house, including lamps.
9. Check all beds are made and tidy up the bedrooms.
10. Open the windows and air out the house. Empty all garbage containers, diaper pails etc.
    You don’t want any offensive odors in the house.
11. Take pets with you and remove all signs of pet paraphernalia. (fish are the exception)
12. Make sure all toilets are flushed and toilet seats down and that they are clean!
13. Optional – easy listening music in the background.
14. Curb Appeal - check the yard; remove newspapers, garbage, toys or clutter.
    
    

    Read more about:

    • Interest Rates
    • Power of Sale Properties
    • Price Trends
    • or Search the MLS and more at my website

    Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

    Mark

    A. Mark Argentino
    P. Eng. Broker
    Specializing in Residential & Investment Real Estate
    
    Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
    RE/MAX Realty Specialists Inc.
    
    Providing Full-Time Professional Real Estate Services since 1987
    ( BUS 905-828-3434
    ›mark@mississauga4sale.com
    8 Website : Mississauga4Sale.com

    • Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
    • On-Line Real Estate Newsletter sign up
    • See seasonal housing patterns
    

Ready to buy a Mississauga Home?

Are you planning To Buy real estate before the winter?

Start your real estate education now by receiving all the newest Mississauga and Toronto house or condo MLS listings automatically for your favourite neighbourhoods!

Use this link to sign up to my neighbourhood watch program:

http://www.mississauga4sale.com/Neighbourhood-Watch.htm

After you provide us with some of your general home buying requirements, weekly or biweekly you will receive copies of those MLS listings that fit your criteria. It's that easy!

You'll discover what homes are selling for in the Mississauga neighbourhoods that you're interested in and you'll be able to more accurately plan for what size of down payment you'll need and what your monthly payments will be.

Just one more value added benefit to working with Mark Argentino of RE/MAX in Mississauga Ontario.

All the best!

Mark

What A Staging Consultant will do for your house

This page will give you ideas and tips when it comes to selling your home and staging it, this is one in a series of articles on staging your house

You will benefit by using the information contained within these articles.

Enjoy!
Mark

What A Staging Consultant will do for your house:

Ñ Look at your house through those highly critical eyes of the buyer

Ñ Highlighting selling features

Ñ Enhancing functionality and visual flow

Ñ Make your house appear bigger, brighter

Ñ Enhance the positive features and minimize the negative

Ñ Furniture layout, lighting, traffic flow, repairs, focal point

Ñ Appeal to more mainstream taste

Ñ Respect your individual situation, timeframe and budget

Ñ Make that all important first impression memorable

Ñ Critique and recommendations – a room by room, step by step, prioritized assessment of what needs to be done to get your house ready for sale

Ñ Maximize your return on investment, and protect your equity with an honest, unbiased and professional opinion.

In the end, it is you that will decide what recommendations you will implement.

Courtesy of:

Lydia Pollard

Owners Pride Home Staging & Design

http://www.ownerspride.ca/

Read more about:

• Interest Rates
• Power of Sale Properties
• Price Trends
• or Search the MLS and more at my website

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

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

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
›mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

• Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
• On-Line Real Estate Newsletter sign up
• See seasonal housing patterns

Mortgage interest rate update

Good Afternoon everyone,

At long last, mortgage interest rate decreases are being announced! It would be nice if I can be reporting on further decreases in the near future, but the announcements today are a good start to rates coming down now and in the future.

In summary:

• Variable rates: Prime less .60% (down from Prime less 1%);
• For clients who want a really competitive rate .... consider the 4 yr fixed @ 4.89%;
• Currently some of the best 5 yr fixed are priced at 5.10% (mortgage amount over $500K or 5.30% for lower amounts).

If you have any questions about financing options? Please contact me via email.

You may be aware or heard that that the licensing requirements for mortgage brokers changed on July 1st, 2008. As of January 2009, my new title is 'Mortgage Agent' and all mortgage agents are required to show their license number on business cards etc. The mortgage documentation that Mortgage agents present to clients will also be changing. Hopefully FSCO's new licensing requirements will help insure mortgage clients receive the information & guidance they require to make mortgage decisions.

Many of your know I am a real estate Broker. I am contemplating becoming a Mortgage Broker too, why not add another service to my current level of service. Do you have any thoughts on me becoming a mortgage broker? Postive or negative or neutral?

Hope your weekend is great! :-))
Mark

Current mortgage interest rates in Ontario

This table will show you the current mortgage interest rates that are posted and attainable in Ontario

Rates seem to be falling slightly over the past week or so
http://www.mississauga4sale.com/Rates-Current-Posted-Mortage-Interest-Rate.htm

Enjoy your weekend!
Mark

TERM	POSTED	Attainable RATES*
6 Month	6.1%	6.1%
1 Year	5.6%	4.45%
2 Year	6.45%	5.1%
3 Year	6.45%	5.3%
4 Year	6.29%	5.34%
5 Year	6.95%	5.54%
7 Year	7.4%	6.2%
10 Year	7.75%	6.4%
Variable Rate		4.6%
Prime Rate		4%

* Rates Last Updated: Thursday, November 27, 2008












http://www.mississauga4sale.com/Rates-Current-Posted-Mortage-Interest-Rate.htm

When you have two listings in the same area and same house, how can you get only one sale?

When there are Two Listings: Same House, Same Area - Only One Sale , what would have caused this?

This is an interesting analysis, let me know what you think.

You may have guessed that one listing was at a much higher price than the other. So, the question is … why does Owner B insist on a higher list price than Owner A?

In this case both owners:

¡ Are single, mid 60's, retired

¡ Own another home

¡ Will invest the full net proceeds of this house sale

¡ Want a gain of $40,000 in net annual income after this transaction

Both Owners will gain $18,000 annual net income from the elimination of house related expenses with the balance to come from investing the net sale proceeds. And that is where the problem lies.

Owner A listed his house for $499,900 and sold for that price in 30 days

¡ Net proceeds of $460,000 were invested in an Income Plus Plan

¡ Guaranteed minimum lifetime annual income of $23,000

¡ About $22,000 in net after-tax annual income (tax rate of 5%)

¡ Owner A achieves his objective of $40,000 net annual income – guaranteed for the rest of his life – and with the potential for future increases.

Owner B's home did not sell for 549,900

¡ After a number of price reductions it eventually sells for the same price as Owner A's

¡ Net proceeds of $460,000 were invested in a GIC at 4.5%

¡ Income of about $21,000 is generated

¡ About $14,500 in net annual income (tax rate of 30%)

¡ Total net income is $32,500 – some $7,500 less than Owner B's objective and subject to change based on interest rates in the future – and the risk that the income may not last.

Declining real estate values and low interest rates make it difficult for Owners looking to downsize. One way to help clients in this situation is to offer them a complimentary review and consultation on their income needs. As this case illustrates, there are options which deliver sustainable lifetime income – at a minimum guaranteed rate of 5% – with the potential for future increases – at preferred tax rates. Helping clients meet their needs in this way also helps them to list their house at a saleable price.

Please let me know if you have any questions,

Mark

Does "Buy and Hold" Work When the Market Goes Up and Down like a Yo-Yo?

This came in my inbox and was too interesting of an article to read.

We may benefit by following this advice!

Enjoy,

Mark

Does “Buy and Hold” Work When the

Market Goes Up and Down like a Yo-Yo?

I don’t know about you, but I’m a bit freaked out about the stock market. I know I’m relatively young, have a lot of time to recover, and that I don’t have a million dollars the market, but it’s very uneasy to think about the security of my invested assets in such a volatile market.

The day that I wrote this the S&P 500 index went up and down nearly 10%. To say that is volatile is an understatement.

You know what everyone says: If you are in the market for the “long-term” you don’t have to worry about the short-term volatility or losses.

I guess that sort of makes sense doesn’t it? Or does it?

This is a new very volatile world and I wrote this newsletter to give you something to think about and determine if buying and holding stocks right now is a good idea even when looking at the long term?

Ask yourself this question: If the stock market goes up and down and up and down over a ten year period with the average rate of return equalling ZERO, will the account balance be the same at the end of the ten-year period?

Put another way, if you invested $100,000 in the S&P 500 index where the index went up 10% the first year, then down 10%, then up 10%, then down 10%, and if this cycle continued for 10 years with the average rate of return equalling ZERO, would your initial investment still be $100,000?

The answer is NO!

Look at the following chart where I assumed a very volatile market that goes up and down 10% every other year and after ten-years the average return is ZERO. You’ll notice that the account value is $95,438.

Never go backwards and lock in gains

Most of you know that I’m a big fan of Fixed Indexed Annuities (FIAs) to hedge a client’s risk in the market and to earn decent returns when the stock market does well. FIAs are not a cure all. Not every penny of someone’s money should be in them, but as an asset allocation model, the older you get the more money you should have in a wealth building tool that will not go backwards.

What if the $100,000 invested in the above example instead went into FIAs? If I make a very conservative assumption that over time the cap on returns will be 8% annually, look at the results.

Initial Annual Return Acct. Initial Annual Return Acct. S&P 500 Investment Value Investment Balance Index FIA End Year 1 $100,000 10% $10,000 $110,000 $100,000 8.00% $8,000 $108,000 End Year 2 $110,000 -10% ($11,000) $99,000 $108,000 0.00% $0 $108,000 End Year 3 $99,000 10% $9,900 $108,900 $108,000 8.00% $8,640 $116,640 End Year 4 $108,900 -10% ($10,890) $98,010 $116,640 0.00% $0 $116,640 End Year 5 $98,010 10% $9,801 $107,811 $116,640 8.00% $9,331 $125,971 End Year 6 $107,811 -10% ($10,781) $97,030 $125,971 0.00% $0 $125,971 End Year 7 $97,030 10% $9,703 $106,733 $125,971 8.00% $10,078 $136,049 End Year 8 $106,733 -10% ($10,673) $96,060 $136,049 0.00% $0 $136,049 End Year 9 $96,060 10% $9,606 $105,666 $136,049 8.00% $10,884 $146,933 End Year 10 $105,666 -10% ($10,567) $95,099 $146,933 0.00% $0 $146,933 Ave.Return 0.00% 4.00%

Why did the FIA end up with an account balance of $146,933 instead of $95,099? Simple, in down years the FIA returned ZERO instead of -10% and in up years it returned 8%.

Are these examples real world? Prior to 1998 you would have said no way? Are these examples real world? Who knows, they could be. The question of the day is: are you doing everything you can to help educate and protect your client’s money in this uncertain world.

It’s one thing to have a conversation with your client where they are upset they only earned 8% when the market was up 10%+