Real Estate
Mississauga Real Estate Market Watch - Mark Argentino
February 2009
From the desk of: A. Mark Argentino
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Subscribe to Mark's valuable RE/MAX Real Estate newsletter  You will receive useful Real Estate information for Mississauga and surrounding areas.  Plus you will learn many tips and secrets when selling or buying your home, I will show you where to find the 'best' mortgage interest rates as well as provide you with timely information and a comprehensive overview of GTA price trends.

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What's Happening in Real Estate?

In this Issue

Greetings from Fabulous Mississauga! The statistics for January have been published, see this page for latest market stats.

Graph of Average Sales Prices in the GTA

Our market continues it's rocky ride.  It appears that Obama is having a positive impact on the economy, but he alone is not enough to get us through this right away. 

Should be interesting to see what the next 3 or 4 months brings in our economy and local real estate marketplace

February report GTA REALTORS® Report 2,670 Resale Housing Transactions in January

January 2009 Sales volume down about 53% compared to January 2008

Our prices are soft, sales are down, but our local Mississauga and surrounding area marketplace is still moving along at a fairly good rate.  Not time to panic by any means.  I've blogged about this if you want to read more

Update on interest rates, Bank Prime rates are holding at 4.00%, read more, Bank Rate

January 2009 Report - 2,500 GTA Housing Resales in December, 74,000 in 2008

TREB just reported the January sales figures

Summary:

  • Average sales prices dropped to 343,632 compared to 361,415 down about 5% compared to previous month
  • Number of transactions in January were 2670 compared to 5075 for January of 2008, down about 53%


This is the complete press release from TREB today

I hope this finds you happy and healthy,
Mark

GTA REALTORS® Report 2,670 Resale Housing Transactions in January

TORONTO - February 5, 2009 -- TREB Members reported 2,670 sales in January from the 5,075 sales reported in the first month of 2008. Of these, 1,106 transactions took place in the City of Toronto compared to 2,128 in January 2008. In the surrounding “905” area, 1,564 sales were recorded, from 2,947 last year.

The GTA housing market has not been immune to the economic slowdown in Canada. Some potential home buyers were less-certain about their positioning in the economy over the past year. Until the economy rebounds, and along with it consumer confidence, the number of existing home sales will be more moderate in comparison to the average over the last ten years.

Home prices also moderated in January. The average MLS selling price dipped to $343,632. The average price was $364,415 in the City of Toronto, from $404,202 in 2008. In the surrounding regions (“905” area code), the average price was $328,935 from $352,965 last year. Buyers have experienced more choice in the existing home marketplace. Lower selling prices have resulted.

It should be noted that the GTA housing market has followed the broader economic slowdown, but was not a cause of the downturn. Home prices remained affordable throughout the new millennium. The average family can still qualify for a mortgage on the average priced home. This remains the case today. Given that we are not facing an early-1990s-style affordability crisis, the rebound in the housing market will likely be quick once economic recovery takes hold.

Median Price

The median price in January was $303,000 from the $319,000 recorded during January of 2008.

 

December report, Over 3,600 Greater Toronto Area Resale Housing Sales in November

TORONTO, December 04, 2008 -- Greater Toronto REALTORS® recorded 3,640 transactions last month, from 7,313 sales in November 2007, Toronto Real Estate Board President Maureen O’Neill announced today.

Year-to-date sales figures for the Greater Toronto Area show 72,086 transactions in 2008, from 88,695 sales recorded in the same January to November period a year ago. By contrast, the 2008 year-to-date average price in the GTA is $379,489, from $375,445 in 2007.

“Its important for the public to understand that while sales activity has moderated in 2008, due to current economic conditions, the average price of homes has increased from 2006 still making real estate a solid long term investment,” said O’Neill.

In the 416 area, 1,523 transactions took place last month, from 3,426 sales recorded in November 2007. From a year-to-date perspective, there have been 28,806 sales in the 416 area this year, from 36,804 transactions a year ago.

In the 905 Region 2,117 homes changed hands last month, from November 2007’s 3,887 sales. The 905 Region’s year-to-date figures show 43,280 transactions this year, from 51,891 sales recorded during the same period in 2007.

“Homeownership in the Greater Toronto Area continues to be an affordable, stable and secure investment,” said Ms. O’Neill. “Home buyers and sellers should be confident about their bricks and mortar investment which provides shelter and a place to raise a family.”

“Home prices are affordable, interest rates are at historical low levels and the supply of homes for sale is good providing additional reasons for buyers thinking of entering the market,” added O’Neill.

The average price of a home in the GTA last month was $368,582, from $393,747 noted in November 2007. In November 2006 the average price was recorded at $355,727.

In the 416 area, last month’s average price was $390,225, from $433,859 noted in November 2007. The average price recorded in November 2006 was $381,188. From a year-to-date perspective the 2008 average price in the 416 area is $411,155, from last year’s $411,640.

In the 905 Region, the average price recorded last month was $353,012, from $358,391 recorded in November of 2007. In November 2006 the average price was $335,522. The year-to-date average price in the 905 Region this year is $359,245, from $349,774 in 2007.

The average number of days a home currently remains on the market in the GTA is 41, from an average of 32 days last November. There are currently 27,037 homes listed on the TorontoMLS system compared to 18,309 available properties in November 2007.

“While homeownership offers immediate benefits and long term value by way of equity, it also provides tax benefits over time,” said Ms. O’Neill. “If you bought a house five years ago, it would be worth more than 20 per cent more today.”

2008 Real Estate Market Predicitons for the GTA

Bank Prime Interest Rate is steady!

You may wish to read about the Power of Sale section at my website that will show you the pitfalls to avoid and the clauses to put into your offer when you buy a Power of Sale property in Ontario.  This new section will also explain Power of Sale and Foreclosure in detail.  Read more here.

Foreclosure and, Power of Sale Properties FAQ's  You may sign up for Bank Sales and Power of Sales, Bank Sales and Foreclosure email notices.

See a map showing Townhouse Complexes in Mississauga

See a map showing Condos in Mississauga

Map of Townhouses in Erin Mills ONLY

Map of Townhouses in Churchill Meadows

See a complete list of names of Condominium buildings in the GTA

Read more about Sub-Prime Mortgages

Read about the controversial Toronto Land Transfer Tax which is now Law

Read more about our record breaking sales.  Average prices decreased, typical for this time of year

Last month was another strong month for sales.  Prices and sales volumes were high, read more

I have a few 2008 calendars left in hand.  If you would like to receive one of my calendars, please fill in your information at this form and I would be happy to send you a calendar once they arrive!

I found this very interesting mortgage rate website on the internet where they survey mortgage experts to gauge the state of mortgage rates over the next 30 to 45 days: Will rates rise, fall or remain relatively unchanged?

You may read about Sold Stats for W16, W19 and W20.  If you want the stats for your area, just email me and I will send them to you.

May Report for real estate sales figures are now out.  Last month statistics are now in the books and the bottom line is Market Remains Strong!

Listing inventories are low, so if you are thinking of selling, this is a good time to list your home.  The market has been 'very good' for the past month or so and new listings are need.  Would you like a Complimentary & Quick Over-The-Net Home Evaluation of your property?

Price trends over the past 13 years indicate that prices will likely increase over the next month or so. 

It appears as if rates may hold steady for the short term.  Many feel The Bank of Canada may hold the course in the near future on their current level of 4.75% prime, (Current Bank prime is shown here), so this should keep mortgage interest rates at their current levels. 

Average single family residential prices were UP compared to the previous month.  This is typical for this time of year.  Price trends over the past 12 years indicate that prices will likely increase over the next month or so. 

Last month was another very solid month to add to another banner year in real estate in the GTA.  See graphs of the sales figures, read more

See my MLS listings on Google Maps here

I regularly add new articles to my blog, 3 - 5 times per week.

First time ever, the Average Price in Canada tops $300,000

I hope this finds you and yours happy and healthy! 

I wish you and your family all the best!
Mark

Ontario Tax Sale Properties

Average Residential Resale Home Price Trends Graph since 1995 Average Residential Resale Home Price Trends Graph since 1985


If you would like more information or have any questions or suggestions, please email me at info@mississauga4sale.com

I wish you and your family All the Best!

Click here to see Mark's Overview Page!

This Month's Statistics This Month's Stats Read More about Prices...

Feature Homes
Great Value

See them all Here

Feature Homes
Excellent Homes

Click here to see inside photos for this property
Erin Mills Townhouse for rent $1399 located at Erin Centre and Glen Erin Drive

Click here to see inside photos for this property
Churchill Meadows Freehold Townhouse for $299,999

Click here to see inside photos for this property
Churchill Meadows, Outstanding Home, Great Price, Finished Basement $459,900

Click here to see inside photos for this property
Absolute Buildings, two high floor units for lease in beautiufl building

Click here to see inside photos for this property
Churchill Meadows Great Price finished basement $499,900

Click here to see inside photos for this property
Excellent Corner Lot Semi loaded with extras $365,900

Click here to see inside photos for this property
Side by Side semi's live attached to your family members! $344,900

Click here to see inside photos for this property
SKYMARK West Condo $239,500

Click here to see inside photos for this property
Eglinton and Winston Churchill Townhouse $219,900

MUST be sold!

 

Click here to see inside photos for this property
Penthouse Unit, Hurontario and QEW $184,900

Click here to see inside photos for this property
Churchill Meadows Great Price finished basement $499,900
SOLD!

Click here to see inside photos for this property
Two Kitchens, separate entrance, Square One Detached HOme $379,900

Click here to see inside photos for this property
Mavis and Matheson beautiful end unit townhouse for rent, available immedigately, $1600

Click here to see inside photos for this property
Great detached home with finished basement and second kitchen for rent $1600 per month!
 

Click here to see inside photos for this property
Burnhamthorpe and Winston Churchill, Completely renovated, $569,900

Click here to see inside photos for this property
Erin Centre End Unit Townhouse $308,900
now sold!

Click here to see inside photos for this property
Lowest price 4 bedroom home in the area, $324,900 Winston Churchill south of Derry, excellent Family area!

Click here to see inside photos for this property
Large Townhome at Eglinton and Creditview, must be sold $289,900!
  now sold!

Click here to see inside photos for this property
Excellent Erin Mills Townhome and backs inside park area of complex, low fees!
  now sold

Click here for all the pictures and details of this home
Huge Corner private lot for this semi at $349,900 in Meadowvale

Click here for all the pictures and details of this home
Beautiful Home backing Pond! $519,900

Click here to see inside photos for this property
Excellent Family Home on a child safe Court with Inground Swimming Pool! located at Erin Mills Pkwy. & Battleford
now sold!

Click here to see inside photos for this property
Power of Sale Condo! now reduced to $180,000
now sold

Real Estate Listings and Homes for sale in Mississauga
Three Bedroom plus finished basement, gorgeous Semi Detached home located at Eglinton and Hurontario!

Click here to see inside photos for this property
Power of Sale Brampton!

Click here to see inside photos for this property
Needed, more condos to rent at One Park Tower

Churchill Meadows! 5880 Chessman Court
Reduced to $539,900 Excellent Development Opportunity 21.14 Acres Of Opportunity, Searching Of Exceptional Value In Cottage Country; 21.14 Acres Of Opportunity; Scenic 3rd Row Property W/ Some Lake view & A Deeded Right Of Way To A Sandy Beach; Future Development Site For Any Age Group; Proposed Plan Of Subdivision in Goderich Area

 

 

 


These properties are all recently sold!

Real Estate Listings and Homes for sale in Mississauga
Outstanding Condo walk to Square One and Mississauga City Centre for $184,900
now sold

Power of Sales Properties

Churchill Meadows! 5880 Chessman Court
Churchill Meadows beauty, $1425 per month
sorry rented

Real Estate Listings and Homes for sale in Mississauga
Outstanding Square One 2 bedroom, 2 full baths Condo for $199,900
sorry sold

Real Estate Listings and Homes for sale in Mississauga
Excellent 2 bedroom executive condo near 10 and Eglinton $219,900
sorry sold

35 Kingsbridge Garden Circle High Rise Condo Building
Semi Detached with an inground pool in the Homelands area asking $319,900
sold

Power of Sales Properties

Real Estate Listings and Homes for sale in Mississauga
Excellent URBAN style Townhouse near Dundas and Hurontario, close to Cooksville GO Station $269,888
sold!

Real Estate Listings and Homes for sale in Mississauga
The Absolute Complex, Townhouse for rent, all utilities included!  Ultra Luxury for lease $2100/month available immediately
no longer available, another coming up in the fall, please email me for details!

Real Estate Listings and Homes for sale in Mississauga
Outstanding Freehold home at Mavis and 401 Heartland Centre $299,900
sold!

Real Estate Listings and Homes for sale in Mississauga
Beautiful Semi Detached home in LISGAR area $299,900
now sold

Real Estate Listings and Homes for sale in Mississauga
Outstanding Freehold home at Mavis and 401 Heartland area $315,500
Sold!

Real Estate Listings and Homes for sale in Mississauga
Beautiful Home walk to "The Pond" at Britannia and Winston Churchill $349,900

Click here for all the pictures and details of this home
Sorry   Sawmill Valley Beauty $599,900

Find me a home!


Term Royal Bank Posted Rates
6 Month 5.90%
1 Year 5.60%
2 Year 6.25%
3 Year 6.25%
4 Year 6.09%
5 Year 6.75%
7 Year 7.20%
10 Year 7.35%
25 Year 8.25%
5 Yr Closed Variable Bank Prime + 1%
Bank Prime 3.00%

NOTE: You can often negotiate a discount of 0.5 - .8% or more off posted rates.
"Best" Mortgage Rates

BANK PRIME RATE

As of September 13, 2015 the Bank Prime Rate was

3.00
%

The Bank of Canada prime rate as of February 8th, 2009 was 1.00% 

Bank Prime Rate means "best" and this is the rate that banks charge their absolute best customers for loans.

Changes in the Bank of Canada prime rate influence changes in other interest rates, including variable interest rate mortgages. This "bank rate" rate fluctuates based on economic conditions.

Some mortgage companies offer interest rates starting at Prime less .75% as an incentive to borrow from them!  These are known as "SUB PRIME" Mortgages and we know what happened in the US when too many sub-prime mortgages were given out in the mid 2000's   Read more about Sub-Prime Mortgages

For example, see the
Royal Bank Prime Rates

Bank of Canada Prime rates found here

 


Benefits of this timely newsletter:

15 KEYS to Selling in Mississauga 8 Mistakes to Avoid When Selling in Mississauga 

Toronto Star Report Flooring Trends

Free offer "just for looking" at this newsletter, use one of my FIVE Financial Calculators

FAQ - Real Estate FAQ's
This months feature is: Are Commission Rates Negotiable?

Mississauga Real Estate Newsletter Back Issues

2009
January
February

2008
December
November
October
September
August
July
June
May
April
March
February
January

2007
December
November
October
September
August
July
June
May
April
March
February
January

2006
December
November
October
September
August
July
June
May
April
March
February
January

2005
December
November
October

September
June
May
April
March
February
January

2004
December
November
October
September
August
July
June
May
April
March
February
January

2003
December
November
October
September
July
June
May
April
March
February
January

2002
December
November
October
September
August
July
June
May
April
mid
March

 

Strategies for selling your home

Mississauga's Strategic Plan - Amazing! Read about it
Web Tips for Kids


Look up any Phone number in Canada
City of Toronto Fire Prevention Website

More Internet Fun:
Optical Illusions
&

Free Link Checker
another link checker
Ultimate TOP TEN
Another Link checker
Excellent Link Checker
newsletter location

Internet Links Top Ten Internet Links




News and Real Estate Links and Other Goodies ...

News Services:
ABC | AP | AltaVista | BBC | Bloomberg | CBC | CBS | CNN | FOX | Google | MSNBC NPR | Reuters | UPI | Yahoo 


This week in the News

Resolutions for Housing Consumers


Weather Facts and Records:
More Weather Facts and Record


www.Refdesk.com - A very thorough reference site

www.eduref.org - Especially helpful for parents

www.news.google.com - Current new stories

www.thescannery.com - You'll get the scoop on 11,000 companies

 


Do you like to read the papers and keep up to date on facts?

Mountains of Facts on Canada
Mississauga News Online
Baby boomers and their impact on Real Estate in Canada

Real Estate Predictions for next 10 yrs (excellent article in PDF format)

In the News:
• This is an excellent link to current news and information

• Google News Canada

USA/World Newspapers
• Today's Front Pages
• Today's Papers: Summary
• Political Cartoons
• More Headlines
• News Photos

Canada News Sources:
• Canada News wire
• Canadian Press
• Toronto Star  
• The National Post
• The Globe and Mail
•  The Toronto Sun

 

Today's Pictures: Astronomy - Earth's Current Temps/Clouds - Earth Images - Earth Science - Kodak - Nat. Geographic - NOAA Image of the Day - Top News Photos - Wash. Post Day in Photos - More Weather Pics 

MoneySense Latest Market News


Toronto area attractions

Casa Loma: Toronto's famous castle
Centreville Amusement Park: CN Tower
Harbourfront Centre
Ontario Place
Ontario Science Centre
Paramount Canada's Wonderland
Toronto Zoo
Wild Water Kingdom

Excellent City of Toronto Links
City of Mississauga

Museums
Canadian Warplane Heritage Museum:
Children's Own Museum
The Gardiner Museum of Ceramic Art
Hockey Hall of Fame
Museum for Textiles
MZTV Museum
Ontario Museum Association
Royal Ontario Museum
Toronto Aerospace Museum
 

 

 

 

 

 

 

 

 

 

 

 

 

 

How can Mark Help You?

" As a professional real estate agent, my job is to give you all the information so you can make the best decision for yourself and your family ©" - and that is what this newsletter is all about - supplying you with timely and valuable information.
Your email address will never be shared with anyone.

Real Estate Home


Real Estate Secrets - You found it! - Click Here to Read Now!A. Mark Argentino, P.Eng.
Broker (since 1987)


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Average GTA Price Graph |
Thinking of Selling? The Selling Process Explained
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P.Eng. Broker (since 1987)

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