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Real Estate
November 2008
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
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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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In this Issue
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Feature Homes
Great Value
See them all Here
Feature Homes
Excellent Homes
Erin Centre End Unit Townhouse $318,900
Two Kitchens, separate entrance, Square One Detached HOme $399,900
Penthouse Unit, Hurontario and QEW $184,900
Dixie and Dundas, Penthouse Unit, $119,900
Burnhamthorpe and Winston Churchill, Completely renovated, $569,900
Mavis and Highway 407 Nearly New!, $489,900
Lowest price 4 bedroom home in the area, $324,900 Winston Churchill south of Derry, excellent Family area!
Great townhome at Dundas and Erindale Station Road for $219,900! Now Sold!
Large Townhome at Eglinton and Creditview, must be sold $289,900! now sold!
Excellent Erin Mills Townhome and backs inside park area of complex, low fees! now sold
Huge Corner private lot for this semi at $349,900 in Meadowvale
Beautiful Home backing Pond! $519,900
Excellent Family Home on a child safe Court with Inground Swimming Pool! located at Erin Mills Pkwy. & Battleford now sold!
Power of Sale Condo! now reduced to $180,000 now sold
Three Bedroom plus finished basement, gorgeous Semi Detached home located at Eglinton and Hurontario!
Power of Sale Brampton!
Needed, more condos to rent at One Park Tower
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!
Outstanding Condo walk to Square One and Mississauga City Centre for $184,900 now sold
Churchill Meadows beauty, $1425 per month sorry rented
Outstanding Square One 2 bedroom, 2 full baths Condo for $199,900 sorry sold
Excellent 2 bedroom executive condo near 10 and Eglinton $219,900 sorry sold
Semi Detached with an inground pool in the Homelands area asking $319,900 sold
Excellent URBAN style Townhouse near Dundas and Hurontario, close to Cooksville GO Station $269,888 sold!
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!
Outstanding Freehold home at Mavis and 401 Heartland Centre $299,900 sold!
Beautiful Semi Detached home in LISGAR area $299,900 now sold
Outstanding Freehold home at Mavis and 401 Heartland area $315,500 Sold!
Beautiful Home walk to "The Pond" at Britannia and Winston Churchill $349,900
Sorry  Sawmill Valley Beauty $599,900
| Term |
Royal Bank Posted Rates |
| 6 Month |
6.35% |
| 1 Year |
6.35% |
| 2 Year |
6.70% |
| 3 Year |
6.70% |
| 4 Year |
7.04% |
| 5 Year |
7.20% |
| 7 Year |
7.65% |
| 10 Year |
7.80% |
| 25 Year |
8.70% |
| 5 Yr Closed Variable |
Bank Prime + 1% |
| Bank Prime 4.00% |
NOTE: You can often negotiate a discount of 1% or more off posted rates.
"Best" Mortgage Rates
BANK PRIME RATE
As of
November 7, 2008
the Bank Prime Rate was
4.00%
The Bank of Canada prime rate as of November 6th was 2.25%
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:
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Greetings from Fabulous Mississauga! 
What a ride it's been for the financial markets since I last wrote you last month. The Canadian and US stock markets are down about 40% The US Federal Election is over and Obama was the decisive winner. America and the world seems to have hope for the economic and global future.
Average October price is down about 4% compared to September price
October 2008 Sales volume down about 35% compared to October 2007
Last months real estate sales figures are extremely soft, as you can see by the headlines below.
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
November Report
This is what the Toronto Real Estate Board reported for the October sales
More Than 5,000 Sales In October
November 5, 2008 -- TREB Members reported 5,155 sales in October, down 35 per cent from the 7,915 sales reported in October of 2007, and also down 25 per cent from the 6,876 sales reported during October 2006.
Within the City of Toronto, 2,136 sales were recorded. This was down 38 per cent from the 3,455 sales recorded in October of last year. In the 905 suburbs, however, the 3,019 sales recorded were down 32 per cent from October 2007's figure of 4,460.
GTA-wide, prices declined 10 per cent to $352,974 from last October's average of $394,646. They were down one per cent over the average recorded in October 2006 of $356,423. As with sales, price declines differed according to region.The City of Toronto average was $376,896, down 13 per cent from the $434,022 recorded during the same month in 2007, and down about three per cent from the $386,807 recorded in October 2006. Meanwhile, the average for the City's 905 suburbs was $336,049.This is down eight per cent from the $364,142 recorded last October, and up one per cent from the $333,166 recorded in October 2006.
Breaking down the total, 2,064 sales were reported in TREB's 28 West districts and averaged $335,329; 892 sales were reported in the 14 Central districts and averaged $450,437; 946 sales were reported in the 23 North districts and averaged $382,032; and 1,253 sales were reported in TREB's 21 East districts and averaged $290,719.
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GTA Resale Housing Market Continues to Reflect Economic Times
TORONTO, November 5, 2008 -- The Greater Toronto Area resale housing market reported 5,155 sales in October, Toronto Real Estate Board President Maureen O’Neill announced today.
This represents a 35 per cent decline from the 7,915 sales reported in October 2007 and a 25 per cent decrease from the 6,876 transactions that took place during the same period two years ago.
In the City of Toronto, there were 2,136 sales, with sales activity down 38 per cent from the 3,455 transactions recorded last October.
In the 905 Region 3,019 sales were recorded, with sales activity down 32 per cent from a year ago when 4,460 homes changed hands.
With 68,570 transactions to date this year, sales are within 16 per cent of the 81,563 transactions noted a year ago. The 2007 market referred to was a record breaking year with each month breaking records for the entire year. Putting into perspective 2008 figures are indicative of a return to a more balanced market.
In the City of Toronto 27,324 sales year-to-date are within 18 per cent of the 33,441 transactions recorded last year at this time.
In the 905 Region the 41,246 sales to date are within 14 per cent of the 48,122 homes that changed hands up to this point a year ago.
In the City of Toronto, the current average price of a home is $376,896, down 13 per cent from last October’s average of $434,022 and within three per cent of the October 2006 average of $386,807.
In the 905 Region homes are selling for an average price of $336,049, a decline of eight per cent from October 2007’s average of $364,142. Prices in this area however, remain one per cent higher than the October 2006 average of $332,822.
“Earlier this year the International Monetary Fund undertook a study of housing markets in 17 countries and found that Canada was one of only two nations in which house prices are supported by the economy,” said Ms. O’Neill. “There’s no doubt that real estate will continue to be a solid long-term investment in our country.”
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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!
This
Month's Stats 
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News and Real Estate
Links and Other Goodies ...
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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
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information.
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