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

GTA Resale Market Shows Record Sales from CMHC

Mark Argentino — Tue, 19 Feb 2008 03:45:00 +0000

CMHC reports GTA Resale Market Shows Record Sales

Demand for existing homes in 2007 reached record levels in the GTA. Existing home sales exceeded previous records and ended the year at 95,164 – an increase of almost 11 per cent over 2006. A resurgence in first-time buyer activity was a key factor leading to the jump in sales.

According to CMHC’s 2007 Renovation and Home Purchase Survey undertaken in the Spring, 60 per cent of people who had already purchased or were intending on purchasing a home last year were first-time buyers. These households were confident in their ability to purchase and pay for a home over the long-term, due to continued job and income growth, low mortgage rates and a greater diversity of mortgage products.

Similar to the new home market, condominium apartments accounted for a growing proportion of total existing home sales, with sales above the 20,000 mark for the first time. On average, existing condominium apartments have the lowest price point in the GTA, making this housing type a popular entry point into the ownership market for first-time buyers.

While resales jumped to a new record, new listings remained relatively flat. This meant that choice diminished and stronger seller’s market conditions resulted. Less choice translated into more aggressive offers on some homes, pushing the average price up seven per cent to $377,000.

This growth rate was well above the average of 4.8 per cent experienced in 2006. Condominium apartments led the way in terms of price growth, with the average price growing 10.6 per cent to $265,940 – further testament to the growing popularity of this housing type among first-time buyers.

Read more about prices in the GTA

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 2008 Forecast and last year summary

Mark Argentino — Mon, 18 Feb 2008 13:41:00 +0000

Mortgage Interest Rates 2008 Forecast and last year summary

Mortgage rates increased by about 100 basis points between the start and the end of 2007. The sub-prime mortgage loan crisis in the U.S. has continued to rock financial markets resulting in liquidity issues which have increased the costs of funding mortgages.

Equity and financial markets have experienced additional upheaval as many analysts and investors speculate on the possibility of the U.S. slipping into a recession. The ensuing flight to quality in financial markets has resulted in lower yields on government bonds, but has not had a large impact on posted mortgage rates.

The potential drag on Canadian GDP growth due to a potential U.S. economic slowdown, coupled with the tightening on Canadian credit conditions, and the high value of the Canadian dollar will cause minor fluctuations in mortgage rates through 2008.

Mortgage rates are expected to remain within 25-75 basis points of their current levels in 2008 and then stabilize throughout 2009.

The one year posted mortgage rate is forecast to be in the 6.75-7.50 per cent range, while three and five year posted mortgage rates are forecast to be in the 7.00-7.75 per cent range in 2008.
Source: CMHC 2008 Canadian Housing Observer First Quarter

Friendly Ponds
Building a network is not just about business. New acquaintances can often become friends for life, even though you initially connected because of a business association. The best way to build a network of depth, breadth and reach comes from Dale Carnegie: "You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you." So, how many new friends did you make this year?
Source: Darcy Rezac's Tip of the Week at workthepond.com

Did you know that in 2005, 1.1 million households in Canada owned second homes, vacation homes or cottages? This represents a growth of approximately 200,000 households since 1999. Baby boomers were responsible for much of the increase; households with maintainers aged 45 to 64 accounted for almost three quarters of the total increase in households owning secondary homes. Source: 2008 Canadian Housing Observer

Knowing your Markets
One of the more difficult challenges in growing your business is knowing where your next sale is coming from. That is why it is very important to have an in-depth understanding of the resale market in which you work. The following summary table provides you with a quick overview of resale activity in Canada's largest markets
(you can also visit http://www.cmhc.ca/en/inpr/homain/index.cfm for more information):

MLS® Statistics for Select Canadian Markets
	Sales			Average Price
	2006	2007	up/dwn	2006	2007	up/dwn
Calgary	33,027	32,176	-2.6%	$348,004	$413,139	18.7%
Edmonton	21,984	20,427	-7.1%	$251,169	$337,428	34.3%
Vancouver	36,479	38,978	6.9%	$509,802	$568,588	11.5%
Ottawa-Crltn	14,003	14,739	5.3%	$256,447	$272,395	6.2%
Toronto	84,842	95,164	12.2%	$350,616	$376,873	7.5%
Montréal	50,106	56,151	12.1%	$216,100	$230,147	6.5%
Halifax	6,462	7,261	12.4%	$202,565	$215,055	6.2%
Source: Canadian Real Estate Association (CREA), CMHC

Current Mortgage Interest Rates

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 ?
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Housing Choices when Selling One home and Buying Another - which to to first?

Mark Argentino — Sun, 17 Feb 2008 22:45:00 +0000

Housing Choices of Buying Another and Selling One

In a perfect world, you sell your old home and buy the new one on the same day. Given that things rarely turn out perfectly, here are some things to keep in mind as you negotiate the sale of one house with the purchase of another.

Time it right

Fall and spring are the best times for homes to move and you want to consider the season of the year when buying and selling. And if the closing dates aren't going to coincide, a gap rather than two mortgages is the better. It's easier and usually cheaper to find temporary housing than juggle two mortgages.

Selling First

Selling your home before buying a new one minimizes financial hazards. Even if you have to find temporary housing, it's generally cheaper than two mortgages.
Get an appraisal first thing off the bat. That way you'll have a good idea how the sale of your home will effect your purchasing power on the new one. This will help keep you from over extending your mortgage abilities.
Get pre-approved on a loan for the new home.
Until most of your contingencies have been met, wait to put an offer on a new house. You don't want to be left holding the bag, or in this case, the house.
If you're ready to accept an offer on your home, but haven't found the right new home, negotiate a long escrow or a sale/lease back. This will give you more time to look for the new home. Otherwise, look for temporary housing.

Buying First
It happens. You're only thinking of buying, and suddenly the right home shows up. Now you have to sell your old home quickly. Here are some tips on making things work in your favor:

Negotiating a long escrow on this side of the sale works, too. You can also make the purchase contingent on your house selling. This will work better in a slow market, but it's worth a try in any market. You never know what may also work best for the seller of your new home.
Try and schedule the closing date of your current home prior to the closing on your new home. Temporary housing is generally a better situation than two mortgages.
Take a close look at what price you're going to ask for your home. Make sure it's realistic in the current market.
When you get an acceptable offer, check the buyer's credit history. You don't want any surprises that are going to delay things. If you've closed on the new home, but haven't sold the old one, consider renting it out, or taking it off the market until the next season (or until the market improves).

Same Market or Across Country

Generally, if you're buying and selling in the same market, you can negotiate closing dates to work for you. But when you're dealing with a cross country move, it's a lot harder. A real estate professional really comes in handy at this point. Legal documents can be faxed or sent via overnight courier and your focus won't be stretched to the limit. You may end up renting one home or the other, or have to consider a bridge loan. But with someone local in the market on your side, it will hopefully be less stressful.

Show Me the Money

Make sure you have a tight hold on, and a clear understanding of, your financial situation. Cash reserves are always helpful, but never more so than during the purchase of a home. Two to three months is the recommended reserve, but if you don't have it, this is where the bridge loan comes in handy. Some lenders are more inclined to make a loan if it's for the purchase of a home. If you're a smart shopper/seller, you'll accept an offer from someone who's flexible about move-in dates. It can save you money in the long run. Too many moves with storage costs can quickly eat up any profit you may have made in the transaction

Should you buy or sell first?

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends 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
2 FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : 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 ?
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See seasonal housing patterns

Toronto Cleaning Company Commercial and Residential

Mark Argentino — Sun, 17 Feb 2008 16:54:00 +0000

I've been in the real-estate industry for a while. And when you've been around as long as I have, you begin to notice patterns in people.

It's strange. Sometimes, 90% of your income is the result of 10% of your effort. And despite this, there are so many people who will do 90% of the work, but won't push hard for that extra 10% that will net them the biggest returns.

Here's something I keep seeing in the commercial real-estate market, as well as residential.

Property owners will put their homes or offices up for sale, but they won't make the effort of getting professional commercial cleaners to provide them with a detailed office cleaning. Well trained office cleaners can really add to the value of a property with a simple commercial cleaning.

If you've gone through all the trouble of maintaining the property all these years, I'd strongly advise that you make an effort to get top dollar for it. After all, this is an investment. And you need to maximize returns.

And you don't have to take a day off work or even get your hands dirty. There are plenty of Toronto cleaning companies that offer great prices on Toronto janitorial services. To go search the web for Toronto cleaners, and discover how spending a small amount of money can drastically improve the resale value of your property.

Please let me know if you have any other questions or require further information.

Thank you,

Mark

Ontario Land Transfer Tax Refund Program

Mark Argentino — Sun, 17 Feb 2008 16:09:00 +0000

ONTARIO EXPANDS LAND TRANSFER TAX REFUND PROGRAM
First-time buyers of resale homes to benefit from new tax measure

TORONTO – The McGuinty government is giving all first-time homebuyers a break on land transfer tax by proposing to expand the Land Transfer Tax Refund Program to include purchases of resale homes, Finance Minister Dwight Duncan announced today.

"Expanding this Land Transfer Tax refund is an important part of our government's commitment to helping Ontarians buying their first home," Duncan said.

Effective midnight tonight, first-time buyers of resale homes, as well as newly constructed homes, would be eligible for a refund from the provincial government of up to $2,000 of the Land Transfer Tax paid.

The expanded Land Transfer Tax Refund Program for First-time Homebuyers is part of a package of new tax initiatives announced in the 2007 Fall Economic Outlook and Fiscal Review that would provide $1.4 billion in provincial tax relief for business and people over three years. The government is making strategic investments in people, communities and infrastructure to strengthen Ontario's economic advantage and help manufacturers and other sectors challenged by current economic conditions.

To find out more details about the refund program, how it works and how to claima refund visit: http://www.rev.gov.on.ca/english/notices/ltt/0207.html

Calculate your land transfer tax online at this page

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

This is from our OREA Newsltter: Buyers should have asked about mice

Mark Argentino — Sat, 16 Feb 2008 17:28:00 +0000

The Buyers should have asked about mice

The buyers viewed a home for sale with a REALTOR^® and while other potential purchasers were present, they did not observe any evidence of mice. They acted relatively promptly and bought the home very soon after they saw it. They did not give the house a close inspection nor did they have the house inspected by an independent inspector. They made no inquiries of whether there were or were not mice in the house. They did not look in cupboards or closets and there was no apparent concern about mice at the time. The sellers made no reference to the presence of mice in the house.

There was in fact a serious mouse problem but, absent any warranty or fraudulent representation, the buyers' claim would fail based on the doctrine of Caveat Emptor. The seller testified that there were no mice and any droppings that did show up after vacating the home were caused by her pet hamster that was allowed to run free throughout the house. However prior to the acceptance of the offer a report indicated that virtually the entire house was treated with Blox in closed bait stations with open bait stations under the sink, in the kitchen, along with bait stations under the fridge. The report indicated that the seller had removed the poison.

The judge said that a hamster could not have left the droppings. But, was the failure to disclose the presence of mice a positive misrepresentation that warranted a finding of fraudulent misrepresentation? Was there a misrepresentation in the Manitoba Seller's Property Condition Statement when the seller answered 'no' to the Question: "To your knowledge, during your ownership of the property, has there ever been any damage to the buildings due to wind, fire, water, moisture, insects or rodents?" The evidence did not disclose any structural damage as that expression is commonly understood. The judge also referred to the lengthy warning contained in the SPCS. The buyers lost.

Interesting article from the OREA bulletin that is circulated to us real estate agents that are members of OREA

Read more about home inspections

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

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

Weekly Bottom Line in Economics TD Canada Trust

Mark Argentino — Fri, 15 Feb 2008 16:44:00 +0000

The Weekly Bottom Line in economics courtesy of TD/Canada Trust

HIGHLIGHTS

Non-manufacturing ISM spurs more recession talk in the U.S.
TD Economics revises U.S. growth projections
Canadian jobs data a shocker

This week, investors continued to seek the relative safety of bonds at the expense of equities. Notably, U.S. 2-year government bond yields fell below 2% for the first time since April of 2004. Canadian 2-year government bond yields declined as well, though they still remain above 3%. Despite the 125 basis points in interest rate cuts by the Fed over the past 3 weeks, equity markets recorded losses across the board, led by the tech-heavy Nasdaq (-5%). Declines in the S&P 500 and Toronto's S&P/TSX were 4% and 3%, respectively.

U.S. economic news disappoints

In addition to being served up with a number of disappointing fourth quarter earnings reports, investors continued to fret about the rising risks of a U.S. recession. Following poor January employment numbers last week, the ISM non-manufacturing reading for the same month was even worse, plummeting from 53.2 to 44.6. The sizable drop in January was not only the largest monthly decline on record, but also the lowest level since the series was created in 1997. The culprits behind the weak performance were substantial losses in the business activity, new orders and employment sub-indices. While these figures certainly paint a dismal picture for the U.S. economy, they can be quite volatile on a month-to-month basis. Still, even if February records a moderate reversal, these data build the case that no growth was being recorded in the U.S. economy as the year kicked off.

Adding to concerns was Thursday's report on initial jobless claims, which came in above expectations at 356,000. On a 4-week moving average basis, jobless claims continued to edge higher. This report has proven to be a good leading indicator of recessions in the past. At this stage, the trend is not sounding off alarm bells, even though the January payrolls report increases the risks that the trend in claims could continue to worsen.

Worries about economic growth were also echoed in Fed speeches this week. Richmond Fed President Lacker acknowledged the possibility of a mild recession, similar to the last one experienced in 2001. He noted that business investment will likely slow this year, but still remain in positive territory, and that job growth will likely be lethargic for the better part of the year. Lacker also signaled upside risks to inflation, thereby making rate decisions even more difficult. Philadelphia Fed President Plosser also raised concerns about economic growth, but he too sounded a word of caution about inflation, arguing that "ignoring price stability during times of economic weakness risks undermining our ability to achieve economic growth over the long run."

In light of the latest signs as to the direction of the U.S. economy, we have downgraded our U.S. economic growth forecast. We are now projecting Q4/Q4 growth of 1.4% in 2008 (previously 1.9%) and 2.5% in 2009 (3.1%). For details, see TD Economics Special Report: Economic Stimulus and the U.S. Outlook available on our website. The volatility in equity markets, weakness in employment, and continued erosion of the housing market are likely to curb consumer spending during the first half of 2008, leading to virtually no growth during each of the first two quarters. The fiscal stimulus package expected to be implemented by the U.S. government will support growth during the second half of this year. However, this will provide only a temporary boost, and as such, a sub-par expansion is likely to carry into 2009 (see chart). The prominence of downside risks to growth has prompted us to revise our Fed rate call as well, from a cut of 25 bps to 50 bps in March. However, due to the inflationary pressures weighing on the economy, we expect the next cut to be the last.

Canada's job market remarkable

As signs of U.S. weakness were further manifested, the Canadian economy continued to show remarkable resilience. Employment numbers released this morning showed that 46,000 jobs were created in January, bouncing back with a vengeance from December's revised 3,000 loss. The gain boosted the employment rate to a new record of 63.8%, and drove the unemployment rate back down to the 33-year low of 5.8% reached last October. January saw a reversal in recent trends, as growth in the private sector far outweighed declines in both the public sector and the self-employed, and the goods-producing sector outperformed the service-producing sector, which was relatively flat for the month. Perhaps the biggest surprise was the 18,000 jump in export-oriented manufacturing jobs. Still, employment in the sector over the past year is down 5.4%, dampened in part by the slowing U.S. economy. Elsewhere, job creation in other areas continued to be supported by domestic strength, with particularly large gains in professional, scientific and technical services as well as financial services.

Another key job generator in Canada was the construction sector. Today, we received news that Canadian housing starts also beat expectations in January, rising 21% from December to 223,000. While single-unit housing starts recorded a modest decline, multi-unit housing starts rose by a whopping 64% month-over-month. The largest gains stemmed from Ontario (44%) and Quebec (22%), while the Atlantic region (-17%) was the only area to weigh down the total number of starts.

While this week's data are likely to spur further talk of decoupling between Canada and U.S., our view is that January's surge in Canadian economic activity represents more of a blip than a sign of renewed strength. Hence, look for both indicators to cool in the coming months. With the risks of knock-on effects from the deteriorating U.S. economy growing since the Bank of Canada's last fixed announcement data and Canadian core inflation remaining below trend, we expect that the central bank will remain forward looking and cut interest rates by 50 bps points in March and 25 bps in April.

BOE cuts rates, ECB to follow

Similarly, the U.S. is not alone in its economic woes, as the Bank of England cut rates by 25 basis points this week, and the Eurpoean central bank has signaled that it may cut rates going forward. The increasing recognition that central banks around the world will be required to jump on the rate-cutting bandwagon is likely to be instrumental in spurring a moderate recovery in the U.S. dollar later this year.

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

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

Should you buy a High-rise Condominium Or Detached Home? Which one Is Right and the Best For You?

Mark Argentino — Fri, 15 Feb 2008 14:49:00 +0000

Should you buy a High-rise Condominium Or Detached Home? Which one Is Right and the Best For You?

The Toronto, Mississauga and GTA condominium market is flourishing, with modern towers and low mortgage rates luring would-be home buyers with the possibility of building equity at rent-like prices.

Due to the advantages of home ownership compared to renting your property, many people like you will soon be reaching a point where you want to buy a detached home. However, you may not be sure whether you should actually buy a house or if you should look in to buying a condo instead. This is especially true for younger home buyers who might want the benefits of living in the more communal situation of the condo.

Thus, you have a decision to make. Should you purchase a condo or go for a more traditional detached home or semi or townhouse? You should consider many factors such as your lifestyle and then consider the pros and cons of each choice before deciding which to buy.

Of course you decision is not life long as you can always sell the property and switch, but it's best to consider some major factors before diving into your purchase!

You may wish to purchase a detached home, semi or townhouse when the following items hold true:

You don't mind the occasional maintenance item and actually enjoy spending time and money and investing into your home
You currently have or plan to have a large family.
You are a very private person who does not like living close to your neighbours or having your home choices regulated by an association.
You are investing in home ownership primarily for the purpose of resale of the home in the future (since property values are usually higher than condo values).
You are seeking to purchase a large home and / or you need outdoor grounds areas for things like large pets.
You enjoy maintaining your own yard or garden.
You may live in a rural area or in a location where there are not many condos on the market.

A high-rise condominium may be the better choice for you if:

You are a single individual or a couple or an empty nester that is looking for a small home rather than a large property.
You don't have a lot of money to spend but still want to invest in home ownership.
You are interested in being part of a small community living in the same building or complex.
You are comfortable living in close proximity to your neighbours.
You don't mind having certain aspects of your property ownership regulated by a group of elected people who form the condo association
You live in an urban area where condos are very common, affordable and gives you much choice
You run a busy lifestyle and prefer to enjoy amenities like a pool or a shaded grounds area but aren't able to maintain such amenities yourself either because of the time that it takes or the cost.

A high-rise condominium may be best for single individuals or couples who have neither the money to invest in a house nor the time to maintain the upkeep of the larger home. These tend to be young people enjoy the benefits of apartment style living in close quarters with their neighbours, who are comfortable having some regulation by the home owner's association and who enjoy sharing common areas with others. Often, condo buyers are first time home buyers. If, in contrast, you are an older adult who has (or may soon have) a family and would like the freedom and privacy of a home with its own property, then a house is probably the right choice for you."

There are many items to consider when choosing between a high-rise condo and home purchase. Regardless of whether you buy a house or a high-rise condo, it's important to do your research and consider the future of the neighbourhood you're buying into. Whether it's a condo or home, the old saying of "location, location, location" remains true for either choice. Either choice is a significant investment for you and you need to find a vibrant and safe neighbourhood that will ensure a good return on your real estate purchase and investment into the future.

Read more tips about buying a home

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

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

Here are some Bathroom Renovations you can do on the weekend!

Mark Argentino — Fri, 15 Feb 2008 03:19:00 +0000

Weekend Bathroom Renovation Projects

(ARA) – When giving someone a tour of your home, do you conveniently skip over the bathroom? If your bathroom is outdated, it might be time for a makeover. Small changes can make a big improvement and can be done on a small budget.

Here are some easy and affordable ideas from Faucet.com:

1) The Faucet
The faucet is the focal point of the entire bathroom and should be one of the main considerations when remodeling. You might also consider replacing the sink to really freshen up the look. Pedestal bathroom sinks and countertop sinks are easy to replace.

2) Bathroom Accessories
Updating the hardware and other bathroom accessories can be a fast and affordable way to give the room an instant facelift. Towel rings, vanity shelves and even drawer handles can all make or date a room.

3) Lighting
Remember, because you use the bathroom for your daily preparations, you want to have adequate lighting. Choose from two, three or four bulb fixtures to adequately light the mirror area.

4) Showerhead
When updating your bathroom, add something you can enjoy. New showerheads can be handheld, adjustable or even massaging.

5) Paint
The walls of bathrooms get abused with steam, hairspray, and perfume. A fresh coat of paint will add a new, clean element that will update any room.

Read about your return on renovations

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

Historical Central Bank Rate for US and Canada Watch Predictions

Mark Argentino — Thu, 14 Feb 2008 14:09:00 +0000

Historical Central Bank Rate for US and Canada Watch Predictions

These are the predictions of the US versus Canadian Bank Rates over the next 12 months and historical bank rates graphed over the past 8 years.

Weaker U.S. growth and the strong Canadian
dollar are posing downside risk to Canada's economy
and have prompted the Bank to cut interest
rates by a cumulative 50 basis points in December-
January.

Another 100 basis points in rate cuts are expected
by mid-year to offset the downside risks and
help the economy weather the market turmoil.
Bank of Canada

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

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 to help sell your home in our GTA marketplace

Mark Argentino — Wed, 13 Feb 2008 20:11:00 +0000

Home Staging

When selling your home, the first impression is crucial to prospective buyers-it can make or break the sale. Buyers in today's real estate market are smart consumers and lead busy lives. They are looking for a home that is ready to be moved in to. Does your home make a great first impression?

Staging a home for the real estate market is not a statement on your personal decorating style. The way we live in our homes is very different than how we sell our homes.

Get the advantage
When selling your home, the first impression is crucial to prospective buyers-it can make or break the sale. Buyers in today's real estate market are smart consumers and lead busy lives. They are looking for a home that is ready to be moved in to. Does your home make a great first impression?

Staging a home for the real estate market is not a statement on your personal decorating style. The way we live in our homes is very different than how we sell our homes.

About Home Staging
Home staging is different from interior redesign. Home staging strategically arranges and edits your existing furnishings and accessories to showcase your home to potential buyers.

By redesigning an interior and creating exterior curb appeal you will be able to sell your home for more money in less time

By redesigning an interior and creating 'curb appeal' that stands out, you will not only see an increase in the value of the property, but you will also see a shorter time on the market.

It is seen that lot of sellers in Toronto, GTA area as Mississauga, Oakville, Brampton, Oakville are doing home staging for quicker sale at a better price.

Staging is the very best proven way to get top dollar for your home as you prepare it for sale. This is because Staging sets the scene throughout the house to create immediate buyer interest in your property. This will then lead to your home selling for the highest possible price in today's market. Remember, "The way you live in your home, and the way you market and sell your house are two different things."

http://www.mississauga4sale.com/selling-process.htm

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

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

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Where are the World's Most Expensive Real Estate Rental Markets?

Mark Argentino — Tue, 12 Feb 2008 20:14:00 +0000

World's Most Expensive Rental Markets

Homes in Tokyo and Lndon have always been expensive, but the dollar's recent plunge has made these and other pricey markets particularly daunting for American expatriates, businesses and anyone unlucky enough to receive a salary in greenbacks.

That's what's happening in Hong Kong. There, in dollar-adjusted terms, a two-bedroom, unfurnished apartment runs $6,398 a month. By comparison, $4,000 a month for Moscow and $4,102 for Tokyo look cheap.

_________
Hong Kong$6,398 a monthPrices on the Peak and in central Hong Kong, home to much of the city's financial centers, are among the highest in the city. Due in large part to its friendly tax rates, Hong Kong attracts businesses from all over the world, with a large sector of its Class-A rental market catering to expatriates and corporate relocation. In 2006, rents were $4,898, according to Mercer.
_________

To find these and other such markets, we used data from Mercer Human Resource Consulting, which based its numbers on 2007 data for rental properties in the Class-A market. Though it means different things in different places, a Class-A designation roughly equates to a unit in high-end, unfurnished building in a good part of town. The measures are taken at the median level, so as to exclude the ridiculous costs of premium apartments in neighborhoods like London's Belgravia or on Central Park in New York.

In Depth: World's Most Expensive Rental Markets

Rents were adjusted from local currencies to dollars. In 2007, the dollar hit a record low against the euro after falling 11% in 2006. Against the pound, the dollar was at a 25-year low in 2007. Against both currencies, the greenback remains in the doldrums.

Business Burden
American companies with offices in London feel an especially painful pinch. While rental prices there increased at a modest rate, when you combine subtle rate increases with the dollar's decline, you're left with a 30% jump in rent from 2006 to 2007. Given that Americans can't seem to afford 3%-6% increases in mortgage payments, many expatriates are going to have to move into slightly cheaper digs, or perhaps consider a move to Leeds.

But the mighty London market isn't even the fastest growing. Moscow rents have jumped by 33% when adjusted for the dollar. And in a market that's still relatively cheap, such as Bangalore, India, rents have increased 87% from last year. This is the result of the dollar's position against the Indian rupee and the rapid economic growth and sophistication of the Bangalore rental market, which, like the sales market, has surged along with the overall Indian economy.

This spells trouble for businesses dealing in dollars. That's because, unlike individual international buyers who are snapping up properties in New York and Los Angeles based on the cheap exchange rate, businesses don't quickly shift countries of operation based on the home currency's purchasing power. Instead, they have to absorb inflated housing costs for executives and temporarily relocate employees.

Large, multinational companies feel the pinch less than small businesses, for whom anywhere from a few hundred to a thousand a month is a lot to fret over.

Since 2006, monthly rents in Hong Kong, as measured by Mercer, grew from 4,898 to $6,398. In Moscow, they rose $1,000, and in London they jumped about $900.

What's the rental market like where you live? Weigh in. Add your thoughts in the Reader Comments section below.

Of course, American companies that pay their overseas employees in local currencies are relatively immune. This is the case with Coca-Cola's overseas facilities, which are locally run and operated. If foreign subsidiaries are making money, the exchange rate doesn't hurt them.

"We make our money locally," says Crystal Walker, a company spokeswoman, explaining that Coke employees affected by currency swings represent "a drop in the bucket," as a small proportion of the company's 71,000 employees are based overseas.

For a company with less static international operations, like Exxon Mobil, the problems associated with currency rates can prove difficult, whether it's the yen, the dollar or the next decade's slumping currency.

"Our business is such that foreign exchange is always an issue," says spokesman Alan Jeffers. "Sometimes you win, and sometimes you lose."

Rental Properties in Mississauga and the GTA

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

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

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RSP deadline reminder - contribution deadline is February 29th!

Mark Argentino — Tue, 12 Feb 2008 14:42:00 +0000

RRSP Deadline reminder and information

With the deadline for making your 2007 RSP contribution fast approaching, we want to remind you to contribute and I have contacts for everything you need to invest with confidence.

Were here to provide you with a direct, secure and convenient way to invest. And we re constantly working to add value to your investing experience.

Remember, the 2007 RSP contribution deadline is February 29. Contribute today and take advantage of the outstanding pricing, tools and research available to help you manage your RSP with confidence.

If you bank with RBC, contributing to your RSP from your online investing site is easy:

1. Simply click on Transfer Funds from the Self Service menu on any page of your online investing site.
2. Follow the instructions for moving funds to your RSP from the RBC Royal Bank® account you have on file, your RBC Direct Investing investment account or both.

If you need contact information or any assistance with RSP's please let me know and I will put you in contact with the appropriate person.

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 ?
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Financing Hurdles - Self employed, needing a second home, low downpayment

Mark Argentino — Tue, 12 Feb 2008 14:20:00 +0000

In order to help you when you have financing difficulties, some lenders can offer creative financing in many different situations. Below is one of those lenders. Some lenders feel that they can offer alternatives and help you with their financing, if you need a contact with Scotia, please let me know and I will forward you contact information.

Not everybody is in the same boat.

That's why Scotiabank's mortgages are not all the same.

Down Payment Hurdles

If you haven't been able to save funds for a down payment:

Scotia Free Down Payment Mortgage - Coming up with a 5% down payment isn't always easy, especially with closing costs, moving expenses, and all the other costs associated with buying a home. With this mortgage, Scotiabank pays a 5% down payment for you.

Scotia^®100% Mortgage Program - This program allows you to borrow the full amount of the property value of the home you want to buy.

Self-Employed

If you're having difficulty getting a mortgage because you are self-employed or a commissioned sales person:

Scotia^®Mortgage for Self-Employed - Scotiabank offers a simplified credit approval process and the ability to select almost any Scotiabank home ownership solution. You can qualify for hassle-free home financing with as little as 5% down.

Second Homes

If you're looking for a second home as a vacation property or a home for a family member:

The Scotia Secondary Home Financing Program offers first mortgage financing secured on all types of Secondary Homes, including Type A and Type B vacation properties.

Or, with the Scotia Total Equity^® Plan, you could use the equity in your principal residence to finance virtually any type of property from a four-season home to something more remote.

Flexibility

If you're looking for savings and flexibility with a variable rate mortgage:

Scotia Flex Value^® Mortgage - Flexibility means greater mortgage value: a low rate less than Scotiabank Prime Rate, low payments, and a guaranteed rate discount when locked into Scotiabank's 5-year fixed rate.

Scotia Ultimate Variable Rate^® Mortgage - All the benefits of lower interest rates with the security of a capped rate and fixed payments for the full 3-year term.

Consistency

If you're looking for consistency in mortgage payments:

Fixed Rate Mortgages - No matter what rates are doing, you can lock in at a rate that makes you comfortable. From 6 months to 10 year terms, all at very competitive rates.

Power of Sale Maintenance Fees shown on the MLS listing information

Mark Argentino — Mon, 11 Feb 2008 21:58:00 +0000

Another question I get asked quite often about Power of Sale properties is if the maintenance fee of $0 per month is correct as shown on the MLS listing. Same with the property taxes, often the amount shown for the property taxes on the listing for a POS property is often $0

My answer to this common question is as follows:

It's not a misprint, it's done on purpose by the listing agent and/or the bank who is selling the property. Many banks want the agents to put zero for maintenance fees and taxes on the listings.

The reason is so the bank is not responsible for any amount that may have been stated on the mls listing. If the bank showed $400 per month and it ended up being $450 per month, normally a purchaser could go after the bank/seller for the difference. If it's shwon as zero dollars and in the fine print of the offer, it states that the purchaser must investigate and satisfy themselves of the monthly maintenance and taxes, so the bank is off the hook in showing the correct amount.

In Mississauga, all of the 'normal' condo maintenance items, such as heat, hydro, water, common element maintenance, building insurance and common element parking is usually included in a condo maintenance fee. Usually the property taxes and cable TV are not included in the maintenance fees. In some of the newer condos hydro is NOT included, so you have to be careful when assuming that the listing agent has entered the correct information or not. Always best to confirm through me.

I hope this helps. Please let me know if you have other questions.

Thank you,
Mark

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

Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
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Here are some very innovative mortgage products for those in need

Mark Argentino — Mon, 11 Feb 2008 16:30:00 +0000

This is just a reminder of some the innovative mortgage products that are available for my clients.

- up to 100% financing... even on rental properties!
- up to 95% financing for self-employed individuals on STATED INCOME!
- money for renovations CAN be included in mortgage
- amortization of up to 40 years

Not to mention the absolute BEST customer service in the business!

*ask me about how I can offer you a FREE one-year warranty on their new home!

I have mortgage broker contacts that will also find the lowest available rate for you if you are in any of the following situations:

-weak credit
-self-employed
-new immigrant
-power of sale
-past bankruptcies
-non-qualifying income
-debt consolidation
-refinancing
-renovations

These mortgage people that I deal with would love the opportunity to show you what they can do.

FEBRUARY GTA Real Estate Report - Strength in central Toronto drives the market to a healthy start!

Mark Argentino — Thu, 07 Feb 2008 16:12:00 +0000

FEBRUARY GTA Real Estate Report - Strong performance in central Toronto drives the market to a healthy start!

New Year Off To Good Start

February 5, 2008 -- A strong performance within TREB's Central districts drove the Toronto area real estate market to a healthy 5,073 sales in January, off just two per cent from last year's record performance, President Maureen O'Neill announced today.

"While sales were strong, price increases remained modest, with the average rising six per cent to $374,449," said Ms. O'Neill. "There is clearly still a place for the first-time buyer in today's resale market."

NEIGHBOURHOOD CORNER Mississauga

There were 647 sales in Mississauga this January, a decline of three per cent over the first month of 2007. The average price came in at $339,655, a one per cent increase over the same time-frame last year. Of these sales, 196 were of detached homes which averaged $516,190, up eight per cent over January '07.

Read more about Price Trends

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends 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
2 FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : 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 ?

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GTA Strong performance for Resale Housing Market Solid January!

Mark Argentino — Wed, 06 Feb 2008 16:08:00 +0000

TREB just announced:

February 5, 2008 -- January's Greater Toronto Area resale housing market came within two per cent of a record performance for the month, Toronto Real Estate Board President Maureen O'Neill announced today.

A total of 5,073 properties changed hands last month, compared to the record 5,173 sales that took place in January 2007.

"This is a very positive start to the year but we will be watching closely to see how the City of Toronto's new land transfer tax and a proposed property tax increase affect the market," said Ms. O'Neill.

The average price, which currently stands at $374,449, rose six per cent compared to January 2007.

The strongest activity last month took place in Toronto's Central and East districts.

The Danforth (E03) experienced a 30 per cent increase in transactions compared to last January, driven by strong sales in all housing types.

In West Agincourt (E05) 32 per cent more homes changed hands, primarily as a result of a surge in condominium apartment sales.

Strong condominium apartment sales also lead the Downtown Core (C01) to a 19 per cent overall increase in transactions compared to a year ago.

North York Willowdale (C07) also saw a 19 per cent increase in sales, due in large part to condominium apartment transactions as well.

"While we are optimistic that the market will remain healthy throughout 2008, we recognize there are threats such as a U.S. economic slowdown and a land transfer tax in the City Toronto," said Ms. O'Neill. "Like other levels of government, municipalities should be considering options to help off-set these risks. TREB plans to be a strong voice for REALTORS® and homebuyers as GTA municipalities, particularly the City of Toronto, debate their budgets."

Toronto REALTORS® are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service designed exclusively for REALTORS®. Serving more than 24,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board.

See all Price Trends

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends 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
2 FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : 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 ?
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RRSP withdrawal qualifications under the Federal Home Buyers Program (HBP)

Mark Argentino — Wed, 06 Feb 2008 03:40:00 +0000

Did you know....Home buyers who qualify for a RRSP withdrawal under the Home Buyers Program (HBP):

have up to 30 days after closing to withdraw funds from their RSP;
don't need to use all the funds towards the down payment (money can be used for closing costs, home renos etc);
are allowed a maximum withdrawal of $20,000/ qualified home buyer;
have 15 years to repay their RSP; & Revenue Canada helps keep accounting straight by providing a statement on the annual Notice of Assessment outlining repayment requirements.

Of course, when there is a tax implication, it's always prudent for the client to review the regulations with Revenue Canada.... http://www.cra-arc.gc.ca/tax/individuals/topics/rrsp/hbp/menu-e.html

Let me know how I can help. The following list are some of the current 'best' mortgage interest rates you can find.

Mortgage Interest Rate Update
February 1st, 2008

Prime Rate .5.75%
Variable Rate .Prime less .60%
1 year closed .5.65%
3 year closed .5.95%
5 year closed .5.84%
7 year closed .5.98%
10 year closed ...6.05%
25 year closed ...7.10%

See the current online Interest Rates

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends 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
2 FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : 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
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RE/MAX Real Estate Agents Children's Miracle Network raise over $4 million

Mark Argentino — Tue, 05 Feb 2008 21:25:00 +0000

This is a press release from REMAX Ontario Atlantic

RE/MAX Realtors raise over $4 million for Children's miracle Network

Mississauga, ON (February 5, 2008) -Housing sales and average price weren't the only records being shattered across Canada in 2007. RE/MAX realtors also set a new benchmark in charitable giving, raising over $4 million for Children's Miracle Network.

The donation surpasses the realtors' 2006 contribution by more than 14 per cent. Since 1992, RE/MAX sales associates nationwide have contributed close to $30 million to the cause.

"It's amazing what can be accomplished when people work toward a meaningful cause," says Christine Martysiewicz, Director of Internal and Public Relations, RE/MAX Ontario-Atlantic Canada. "The synergy, commitment and enthusiasm of the RE/MAX network are truly phenomenal. However, what's more amazing is that the charitable efforts undertaken by our realtors are 100 per cent voluntary. Supporting Children's Miracle Network is a chance to make a real difference in the lives of local children and families in their own communities. That type of involvement is something that's been woven into the fabric of the RE/MAX organization since its inception. The way we see it, we don't just serve and work in these communities, we truly are a part of them, and we care-it's that simple."

RE/MAX realtors generate donations through the RE/MAX Miracle Home Program®, whereby a portion of their commission earned on the purchase or sale of each home is given to Children's Miracle Network affiliated hospitals. Children's Miracle Network supports 14 children's hospitals and foundations across Canada. Donations are often maximized through additional fundraising events including golf tournaments, gala evenings with silent auctions, casual Fridays and much more. Funds raised in each community stay in that community to be invested in the local Children's Miracle Network hospital.

'What many don't realize is that the corporate and private sectors play a vital role in making miracles possible," says Marie Sheppy, Senior Coordinator, Corporate Affairs, RE/MAX of Western Canada. "With public coffers stretched to the limit, it's a fact that organizations like RE/MAX fund a significant portion of the required cost to treat sick and injured children in pediatric facilities across Canada. We work so hard because we know our donations mean more than dollars and cents-it's an opportunity for healthy, happy childhoods and hope for promising futures. There really is nothing more rewarding than watching kids just be kids."

In Canada, the funds raised on behalf of Children's Miracle Network help support outreach programs and fund advancements in critical research, as well as upgrades to medical facilities and equipment.

"The outstanding generosity of RE/MAX Associates has helped more than 2.5 million Canadian children in 2007 alone - that's 1 in 4 kids nationally," says John Hartman, Chief Operating Officer - Canada, Children's Miracle Network. "RE/MAX has made Children's Miracle Network hospitals a vital part of what they do and continue to put giving back at the top of their agenda. Since 1992, RE/MAX has been a strong supporter of Children's Miracle Network. Their dedication, passion and enthusiasm for the kids and families in their communities across Canada is outstanding. They continue to give and give more. We are very proud to be affiliated with RE/MAX. The progress being made thanks to contributions like RE/MAX's has been nothing short of astonishing. While care and outcomes have improved significantly, it also remains a reality that the need has never been greater."

In Canada, the children's hospitals/foundations receiving funding from Children's Miracle Network are: BC Children's Hospital Foundation in Vancouver, Alberta Children's Hospital Foundation in Calgary, Stollery Children's Hospital Foundation in Edmonton, Children's Health and Hospital Foundation of Saskatchewan in Saskatoon, The Children's Hospital Foundation of Manitoba in Winnipeg, SickKids Foundation in Toronto, Children's Health Foundation in London, McMaster Children's Hospital in Hamilton, Children's Hospital of Eastern Ontario Foundation in Ottawa, Operation Enfant Soleil (St. Justine's Children's Hospital, Montreal Children's Hospital, Centre hospitalier universitaire de Québec (CHUQ) , IWK Health Centre in Halifax, and Janeway Children's Hospital Foundation in St. John's. For more information, visit: www.childrensmiraclenetwork.ca.

RE/MAX is Canada's leading real estate organization with over 17,600 sales associates in more than 650 independently-owned and operated offices. The RE/MAX franchise network is a global real estate system
operating in over 65 countries. More than 7,000 independently-owned offices engage nearly 115,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral and asset management. For more information, visit: www.remax.ca.

Read more about RE/MAX at my site

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends 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
2 FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : 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 ?
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Condo prices on the rise in Toronto and GTA

Mark Argentino — Mon, 04 Feb 2008 14:43:00 +0000

Condo Prices outpace Detached homes in parts of the GTA in 2007

For the first time, the average price of a condominium in some GTA districts last year rose at a higher rate than single-detached houses.

In the GTA's central core district, the average condo price in 2007 jumped by 12.2 per cent (to $327,559 from $292,064), according to Re/Max Ontario-Atlantic Canada. In the same year, the average price for single-detached homes in the same district went up by 11.5 per cent (to $910, 906 from $816,938).

In the west end, condo prices increased by 7.3 per cent, single-detached prices by 6.6 per cent.

"Condominiums are clearly a viable and now financially feasible alternative to single-detached housing," says Michael Polzler, executive vice-president of Re/Max Ontario-Atlantic Canada.

Condo prices rose by double-digit amounts in 12 of 63 Toronto Real Estate Board districts in the GTA last year, Re/Max said in a statement. The best-performing district was Bayview Village, where average condo prices jumped by 40.8 per cent (to $340,113 from $241,611).

As for single-detached homes, their average prices increased by double-digit amounts in 13 of those 63 TREB districts, led by Forest Hill, where the average price climbed by 21.1 per cent (to $1,028,960 from $849,697).

Pricing your home to sell and the "High Price Tactic"

Mark Argentino — Fri, 01 Feb 2008 15:19:00 +0000

Pricing your home to sell can be tricky business, lookout for the "high price tactic" from some agents.

Listing a home at too high a price is the biggest mistake home sellers make. A high price will discourage buyers from even looking at a home they might otherwise be able to afford. In addition, realistically priced homes in the same neighbourhood will look better by comparison.

Of course, you don't want to set your sales price too low, either. The idea is to net the most money possible from the home sale. The price you set should reflect what other comparable homes in the area have recently sold for. It should leave some space for making concessions in order to close the deal. And it should take into consideration current trends--whether it's a buyer's or seller's market.

Read about the "High Price Tactic"

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends 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
2 FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : 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
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Ice Dams cause damage and methods to prevent ice dams in the winter

Mark Argentino — Thu, 31 Jan 2008 17:49:00 +0000

Ice Dams on your roof will create Ice Damage

An ice dam is a ridge of ice that builds up along the edge of a roof. The ice creates a dam that backs water up and under the roof shingles. Once the water is deep enough, it penetrates the roofing system and creates water damage inside the home.

Beneath the ice dam, undetectable damage is occurring in the attic and wall cavities. The wood framing is wet and may be rotting , insulation is soaked which makes it inefficient and mildew and mould can grow in hidden spots causing odours and other problem inside the home.
Soaked framing and insulation will take a long time to dry out and will continue to contribute to wall damage and interior moisture problems. Uncorrected, the water can cause serious structural damage.

Once the ice dam is high enough to overcome the pitch of the roof, water seeps under asphalt shingles. The alternate freezing and thawing that occurs under these conditions can increase the magnitude of roof leaks. Once the water has penetrated the singles, it flows under the siding and eaves and leaks through the framing into your home.

To prevent ice dams, eliminate heat build-up in the attic space below the roof deck by:

Improving insulation - Add insulation to improve the thermal envelope and slow heat transfer to the attic. Surfaces between the attic and the heated living space should be insulated to R-38 or more. As a homebuyer, you have recently been crunching the numbers, negotiating offers, adding up closing costs, shopping for mortgages and trying to get the best deals. Do not stop now. Do not let your real estate agent, a patty-cake inspector or anyone else talk you into skimping here.

Stopping air "bypass" - Seal any opening that allows heated air to "bypass" the insulation and rise into the attic. The warm air in your home will always try to rise and will push through any small opening. The attic door should be weather-stripped even better than an exterior door. Exhaust fans should not empty into the attic and the area between the frame of the fan and the ceiling should be tightly sealed.

Increasing attic ventilation will cool the space and remove unwanted moisture. The temperature in the attic space should be nearly the same as the outside temperature. When fixing attic insulation, avoid blocking any vents with insulation. The best ventilation system is balanced between low in-take from the overhangs and high-exhaust vents on the attic roof.

Read home maintenance tips

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends 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
2 FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : 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
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Mortgage Rates and Factors to calculate payments

Mark Argentino — Wed, 30 Jan 2008 14:54:00 +0000

Mortgage Rates and Factors to calculate payments

The table below shows current rates and their factors.

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends 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.

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Outlook for Housing Starts Continues to Look good!

Mark Argentino — Mon, 28 Jan 2008 14:27:00 +0000

The outlook for the housing market continues to be very upbeat for the near term.

Housing Starts:
2007: 227,500
2008: 214,300
Resales:
2007: 521,100
2008: 500,800

Housing starts will remain above the 200,000 unit threshold for a seventh consecutive year in 2008, a feat last accomplished in the 1971-1978 period.

Over the long term it is expected that residential construction will gradually decline as factors that drive housing become less stimulative reaching approximately 198,425 units by 2011. Despite this downward movement, the level of activity will remain well above the average annual level of about 150,000 housing starts observed during the 1990s.

The outlook for Canadian GDP growth remains positive over the medium term. The economy will continue to operate close to its capacity and expand at about 3 per cent from 2008 to 2011.

Employment growth is expected to be constrained over this time frame since a record number of Canadians are presently employed. Employment growth will average 1.3 per cent annually over the 2008 to 2011 period. At this pace, the unemployment rate is expected to creep up toward 6.5 per cent range by 2011.

Inflation will remain modest at about 2 per cent per year over the medium term. As a result, both short and long term interest rates will be fairly stable going forward. Longer term mortgage rates, such as the 5 year fixed rate, will stay low and should increase by 50 to 75 basis points between 2008 and 2011.

Population growth is a key driver of housing demand over the longer term and a major contributor to population growth is immigration. More than 216,000 immigrants arrived in Canada in 2006. Looking ahead, continuing tight labour market conditions will provide an attractive environment that will continue to draw large numbers of immigrants to Canada. As a result, net migration is forecast to rise steadily through 2011.

This rise will boost population growth and household formation, which in turn will support strong levels of housing starts through 2011.

Ontario, Quebec and British Columbia will continue to attract most of the new immigrants settling in Canada.
Source: CMHC Housing Market Outlook Canada Edition 4Q2007

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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
2 FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : 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