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

Basement Apartments are now legal in Ontario due to Bill 140

2012-02-07T06:58:00.000-05:00

Another huge change in Ontario that was just announced is in Bill 140 which has one change in housing.

From now onwards, if a property meets building code and Fire Safety standards, you can legalize any second dwelling in a single family home.

This means that basement apartments have become legal again and this will allow many people who can't afford to purchase a home to get into the market because they can earn income from a basement apartment, legally.

This means the banks will give a mortgage partly based upon current or expected income from the basement apartment and this means that demand will increase and prices will likely follow!

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

Prices up about 9% Toronto Real Estate Board January housing figures in the GTA

2012-02-06T06:51:00.000-05:00

This is the brief summary of the Toronto Real Estate Board on January housing figures in the GTA

Prices are up about 9% compared to January 2011

Read more below

For all the graphs and details see:

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

GTA REALTORS(r) RELEASE MONTHLY MARKET FIGURES

Greater Toronto REALTORS(r) reported 4,567 sales through the TorontoMLS(r) system in January 2012.

This number was 8.8 per cent higher than the 4,199 sales reported in January 2011.

Sales growth was strongest for low-rise home types in the regions surrounding the City of Toronto. "A favourable affordability picture bolstered by very low posted fixed mortgage rates has kept home buyers confident in their ability to achieve the Canadian goal of home ownership,"
said Toronto Real Estate Board President Richard Silver. "The buyer pool remains diverse in the GTA with strong interest in home types across the pricing spectrum," continued Silver.

The average selling price for January 2012 transactions was $463,534 - up by almost nine per cent compared to January 2011.

"Low inventory levels have kept competition between buyers strong, resulting in robust annual rates of price growth over the last year. Strong price growth is expected to attract more listings.

A better supplied market should result in a slower rate of price growth, especially in the second half of 2012," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis.

I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
BUS 905-828-3434
FAX 905-828-2829 CELL 416-520-1577
mark@mississauga4sale.com
Mississauga4Sale.com

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary & Quick Over-The-Net Home Evaluation ?
www.mississauga4sale.com/internet-evaluation.htm

* Power of Sales and Foreclosures
www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm

* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm

* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm

* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

Bank of Canada Prime Interest Rate latest announcement

2012-02-05T21:47:00.000-05:00

The Bank of Canada just announced to keep the prime interest rate at 1.0%

This means that the bank prime interest rate charged to customers will remain at 3.0%

The Bank of Canada has announced that the key interest rate will remain at 1.00%

On January 17th the Bank announced:

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

This comes as no surprise as no rate hikes or cuts were anticipated by the vast majority of analysts and financial writer

The next scheduled date for announcing the overnight rate target is 8 March 2012.

The full announcement was:

Ottawa -

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

The outlook for the global economy has deteriorated and uncertainty has increased since the Bank released its October Monetary Policy Report (MPR).

The sovereign debt crisis in Europe has intensified, conditions in international financial markets have tightened and risk aversion has risen.

The recession in Europe is now expected to be deeper and longer than the Bank had anticipated in October. The Bank continues to assume that European authorities will implement sufficient measures to contain the crisis, although this assumption is clearly subject to downside risks. In the United States, while the rebound in real GDP during the second half of 2011 was stronger than anticipated, the Bank expects the U.S. recovery will proceed at a more modest pace going forward, owing to ongoing household deleveraging, fiscal consolidation and the spillovers from Europe. Chinese growth is decelerating as expected towards a more sustainable pace. Commodity prices - with the exception of oil - are expected to be below the levels anticipated in the October MPR through 2013.

The Bank's overall outlook for the Canadian economy is little changed from the October MPR. While the economy had more momentum than anticipated in the second half of 2011, the pace of growth going forward is expected to be more modest than previously envisaged, largely due to the external environment. Prolonged uncertainty about the global economic and financial environment is likely to dampen the rate of growth of business investment, albeit to a still-solid pace. Net exports are expected to contribute little to growth, reflecting moderate foreign demand and ongoing competitiveness challenges, including the persistent strength of the Canadian dollar. In contrast, very favourable financing conditions are expected to buttress consumer spending and housing activity. Household expenditures are expected to remain high relative to GDP and the ratio of household debt to income is projected to rise further.

The Bank estimates that the economy grew by 2.4 per cent in 2011 and projects that it will grow by 2.0 per cent in 2012 and 2.8 per cent in 2013. While the economy appears to be operating with less slack than previously assumed, given the more modest growth profile, the economy is only anticipated to return to full capacity by the third quarter of 2013, one quarter earlier than was expected in October.

The dynamics for inflation are similar to those anticipated in the October MPR, although the profile for inflation is marginally firmer. Both total and core inflation are expected to moderate in 2012 and subsequently rise, reaching 2 per cent by the third quarter of 2013 as excess supply is slowly absorbed, labour compensation grows modestly and inflation expectations remain well-anchored.

Several significant upside and downside risks are present in the inflation outlook for Canada. Overall, the Bank judges that these risks are roughly balanced over the projection horizon.

Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate at 1 per cent. With the target interest rate near historic lows and the financial system functioning well, there is considerable monetary policy stimulus in Canada. The Bank will continue to monitor carefully economic and financial developments in the Canadian and global economies, together with the evolution of risks, and set monetary policy consistent with achieving the 2 per cent inflation target over the medium term.

Great GTA mortgage interest rates available

2012-01-31T08:47:00.001-05:00

Hello!

If you are interested, I have some lenders who are offering the following:

3yr fixed is 2.79

4yr fixed is 2.89

5yr fixed is 3.09

or see best rates here: http://www.mississauga4sale.com/bestrate.htm

Just email me and I'll send you their information

Thanks

Mark

I hope this finds you Happy and Healthy!

All the Best!

Mark

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary & Quick Over-The-Net Home Evaluation ?
www.mississauga4sale.com/internet-evaluation.htm

* Power of Sales and Foreclosures
www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm

* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm

* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm

* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

Bank of Canada interest rate announcement maintains overnight rate target at 1 per cent

2012-01-17T11:51:00.002-05:00

The Bank of Canada is keeping the overnight internet rate fixed today at 1%

This is good news, the interests rates will remain steady for at least the next while!

See the full release below.
Mark

Bank of Canada maintains overnight rate target at 1 per cent

OTTAWA, Jan. 17, 2012 /CNW/ - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

The outlook for the global economy has deteriorated and uncertainty has increased since the Bank released its October Monetary Policy Report (MPR).

The sovereign debt crisis in Europe has intensified, conditions in international financial markets have tightened and risk aversion has risen.

Commodity prices-with the exception of oil-are expected to be below the levels anticipated in the October MPR through 2013.

Prolonged uncertainty about the global economic and financial environment is likely to dampen the rate of growth of business investment, albeit to a still-solid pace. Net exports are expected to contribute little to growth, reflecting moderate foreign demand and ongoing competitiveness challenges, including the persistent strength of the Canadian dollar.

In contrast, very favourable financing conditions are expected to buttress consumer spending and housing activity. Household expenditures are expected to remain high relative to GDP and the ratio of household debt to income is projected to rise further.

The Bank estimates that the economy grew by 2.4 per cent in 2011 and projects that it will grow by 2.0 per cent in 2012 and 2.8 per cent in 2013.

While the economy appears to be operating with less slack than previously assumed, given the more modest growth profile, the economy is only anticipated to return to full capacity by the third quarter of 2013, one quarter earlier than was expected in October.

The dynamics for inflation are similar to those anticipated in the October MPR, although the profile for inflation is marginally firmer.

Both total and core inflation are expected to moderate in 2012 and subsequently rise, reaching 2 per cent by the third quarter of 2013 as excess supply is slowly absorbed, labour compensation grows modestly and inflation expectations remain well-anchored.

Several significant upside and downside risks are present in the inflation outlook for Canada. Overall, the Bank judges that these risks are roughly balanced over the projection horizon.

Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate at 1 per cent.

With the target interest rate near historic lows and the financial system functioning well, there is considerable monetary policy stimulus in Canada. The Bank will continue to monitor carefully economic and financial developments in the Canadian and global economies, together with the evolution of risks, and set monetary policy consistent with achieving the 2 per cent inflation target over the medium term.

Information note:

A full update of the Bank's outlook for the economy and inflation, including risks to the projection, will be published in the MPR on 18 January 2012.

The next scheduled date for announcing the overnight rate target is 8 March 2012.

I hope this finds you Happy and Healthy!

All the Best!

Mark

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary & Quick Over-The-Net Home Evaluation ?
www.mississauga4sale.com/internet-evaluation.htm

* Power of Sales and Foreclosures
www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm

* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm

* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm

* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

Months of Inventory (MOI) Indicator Toronto Real Estate Board now calculating and publishing

2012-01-12T10:54:00.003-05:00

The Toronto Real Estate Board has just released a new indicator of the market. It's called a Months of Inventory indicator. It's calculated by dividing the previous 12 month average # of active listings by the previous 12 month average number of sales. The result is the average time to sell an actively listed property!

TREB Publishing New Months of Inventory Indicator

January 9, 2012 -- Happy New Year! I hope all TREB Members had a restful holiday season after a very busy 2011. Just to recap, we had the second-best year on record in terms of sales (89,347) and the average selling price rose by eight per cent to $465,412. At the same time, total new listings for the year were down by almost four per cent.

The supply side of the market was the big story over the last 12 months. I am guessing that many TREB Members had clients who faced significant competition from other Buyers when trying to get a deal done on a home. On the flip side, I am guessing that many Members also had listings that attracted substantial interest and sold in short order for a good price.

What I am describing here is a typical Sellers' market: lots of Buyers, a shortage of listings and strong price growth.

TREB is now publishing a Months of Inventory (MOI) indicator to help Members and the public get a better handle on market conditions. MOI is also published at the national scale in Canada by CREA and in the United States by NAR. I want to briefly explain how this new indicator works and then give some examples of its use.

MOI is calculated by dividing the 12-month average for active listings by the 12-month average for sales. The result tells us how long it would have taken, on average, to sell all actively listed homes. As of the end of December, this number was 2.2 months. If, moving forward, we see the MOI trend upwards this would suggest that the market is becoming better supplied and we may see less upward pressure on price. If we see the indicator trend lower, this would suggest that market conditions are tightening and strong upward pressure will continue to be exerted on price.

In the post-recession period, MOI has hovered in the 2.0 to 2.5 month range.

This is substantially lower than the pre-recession norm of between 3.0 and 3.5 month range. When we look at market conditions in this context, it is easy to see why we have seen above average price growth over the last couple of years - eight per cent last year following nine per cent in 2010.

We can also use MOI to compare different municipalities in the GTA. A look at the MOI column on pages 3 and 4 of the December Market Watch shows us that the relationship between sales and listings varies quite a bit across the region - from a low of 1.2 months to a high of over nine months.

The MOI can also help us position the GTA within the national context.

According to CREA, MOI was 7.4 months for Canada and 4.8 months for Ontario in November versus 2.2 months for the GTA. This may suggest that the GTA market is tighter than the national and Ontario averages. With this in mind, it is not surprising that year-to-date average price growth for the GTA was in the upper third of Canadian metropolitan areas.

However, when making these types of comparisons it is important to bear in mind that each market area has evolved differently over time. So, while a more balanced market in Toronto may be associated with MOI of 3.5, other markets may be characterized by a MOI of six months.

As we move through 2012, we should expect to see the MOI start to increase.

The strong price growth we have seen over the last year should prompt more households to list. In fact, we have started to see year-over-year growth in new listings outstrip growth in sales in many parts of the GTA. If this trend continues, we will likely see the annual rate of price growth moderate into the mid-single-digits.

I hope this finds you Happy and Healthy!

All the Best!

Mark

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary & Quick Over-The-Net Home Evaluation ?
www.mississauga4sale.com/internet-evaluation.htm

* Power of Sales and Foreclosures
www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm

* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm

* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm

* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

This is the report for latest month in real estate sales from the Toronto real estate board and indicates a 'normal' amount of activity and price levels.

2012-01-11T20:16:00.001-05:00

You will find all the latest figures and graphs summarizing last years real
estate market at this page:

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

This is the report for latest month in real estate sales from the Toronto
real estate board and indicates a 'normal' amount of activity and price
levels.

All the best!
Mark

The year end figures for GTA residential home sales were just published.
2011 was the second best year on record with nearly 90,000 sales up about 4%
compared to 2010

Average price for 2011 was $465,412 up about 8% compared to the 2010 average
of $431,276

See the full press release below and I will update all my graphs and
information on my website at http://www.mississauga4sale.com/TREBprice.htm
in the next couple of days.

I wish you all the best in 2012!

Mark

What were they thinking? Actual Christmas Cards??

2012-01-11T20:11:00.004-05:00

What were they thinking? Actual Christmas Cards

WOW!

What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 0041 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 0071 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 048 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 041 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 0131 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 0081 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 0171 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 006 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 0101 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 025 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 0241 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 033 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 029 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 026 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 037 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 030 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 034 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 0011 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 0021 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 0051 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 0151 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 0161 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 0191 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 0201 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 0211 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 028 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 035 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 036 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 038 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 039 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 046 What was this family thinking when they decided to take this photo and send it to their friends?

Family Photo Number 050 What was this family thinking when they decided to take this photo and send it to their friends?

What was this family thinking when they decided to take this photo
and send it to their friends? famille

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

8 Per Cent Price Increase for Toronto and GTA residential home sales for 2011

2012-01-05T11:05:00.003-05:00

The year end figures for GTA residential home sales were just published.
2011 was the second best year on record with nearly 90,000 sales up about 4% compared to 2010

Average price for 2011 was $465,412 up about 8% compared to the 2010 average of $431,276

See the full press release below and I will update all my graphs and information on my website at http://www.mississauga4sale.com/TREBprice.htm in the next couple of days.

I wish you all the best in 2012!

Mark

GTA REALTORS(r) RELEASE MONTHLY RESALE MARKET FIGURES

TORONTO, January 5, 2012 - Greater Toronto REALTORS(r) reported 4,718
transactions through the TorontoMLS(r) system in December 2011. The December
result capped off the second-best year on record under the current Toronto
Real Estate Board (TREB) boundaries. Total sales for 2011 amounted to 89,347
- up four per cent in comparison to 2010.

"Low borrowing costs kept Buyers confident in their ability to comfortably
cover their mortgage payments along with other major housing costs," said
TREB President Richard Silver. "If Buyers had not been constrained by a
shortage of listings over the past 12 months, we would have been flirting
with a new sales record in the Greater Toronto Area," added Silver.

The average selling price in December was $451,436 - up four per cent
compared to December 2010. For all of 2011, the average selling price was
$465,412, an increase of eight per cent in comparison to the average of
$431,276 in 2010.

"Months of inventory remained below the pre-recession norm in 2011. Very
tight market conditions meant substantial competition between Buyers and
strong upward pressure on selling prices," said Jason Mercer, TREB's Senior
Manager of Market Analysis.

"TREB's baseline forecast for 2012 is for an average price of $485,000,
representing a more moderate four per cent annual rate of price growth. This
baseline view is subject to a heightened degree of risk given the uncertain
global economic outlook," continued Mercer. Summary of TorontoMLS(r) Sales
and Average Price

December 1-31

2011

2010

Sales

Ave. Price

Sales

Ave. Price

City of Toronto "416"

1,948

$474,270

1,818

$463,580

Rest of GTA "905"

2,770

$435,378

2,468

$411,383

GTA

4,718

$451,436

4,286

$433,523

TorontoMLS(r) Sales & Average Price By Home Type

December 1-31, 2011

Sales

Ave. Price

416

905

Total

416

905

Total

Detached

581

1,512

2,093

701,846

525,360

574,351

Yr./Yr. % Change

12%

10%

Semi-Detached

202

289

491

517,152

365,417

427,842

Yr./Yr. % Change

20%

12%

15%

10%

Townhouse

199

517

716

372,164

333,359

344,144

Yr./Yr. % Change

20%

15%

-7%

Condo Apartment

943

363

1,306

351,104

275,173

330,000

Yr./Yr. % Change

-3%

November GTA Real Estate Sales statistics from TREB

2011-12-06T10:23:00.001-05:00

this is the report from the Toronto Real Estate Board for last months sales figures in the GTA

The Average price was $480,421 up nearly 10% compared to November 2010
The total number of sales was 7,092 up 11% compared to November 2010

See the full report below,
Mark

Healthy Fall Market Continues in November

Toronto, December 6, 2011 - Greater Toronto REALTORS(r) reported 7,092 residential transactions through the TorontoMLS(r) system in November - up 11 per cent in comparison to November 2010. At the same time, the number of new listings was up by 14 per cent in comparison to last year.

"We have seen strong annual sales growth through the 2011 fall market. The increase in transactions has been broad-based, with strong growth across low-rise and high-rise home types throughout the Greater Toronto Area," said Toronto Real Estate Board (TREB) President Richard Silver.

"The market has also become better supplied, with annual new listings growth outstripping that of sales. As this trend continues into 2012, we will see more balanced
market conditions."

The average price for November transactions was $480,421, representing an increase of almost 10 per cent in comparison to $437,494 in November 2010.

"Despite strong price growth this year, the housing market remains affordable in the GTA," said Jason Mercer, TREB's Senior Manager of Market Analysis. "The correct method of assessing affordability is to consider the share of the average household's income that is dedicated to mortgage principal and interest, property taxes and utilities. Currently, this share remains in line with generally accepted lending guidelines. Given this positive affordability picture, average price growth is forecast to continue in 2012, albeit at a more moderate pace."

Are you thinking of becoming a real estate agent in Ontario?

2011-12-06T06:56:00.000-05:00

If you are thinking of becoming a real estate agent in the GTA or Ontari,
great news!

I hope that things work out for you.

Have you read about costs associated with getting your license, it's about
the same anywhere in Ontario.

Start here and read through the 10 pages or so about the costs associated
with obtaining your real estate license in Ontario:
http://www.mississauga4sale.com/costs-course-obtaining-my-real-estate-licens
e-Ontario.htm

These are the courses required to obtain your real estate license in
Ontario:

<http://www.mississauga4sale.com/courses-required-to-get-real-estate-license
-in-ontario.htm>
http://www.mississauga4sale.com/courses-required-to-get-real-estate-license-
in-ontario.htm

These are the
<http://www.mississauga4sale.com/Part-Bonus-7-Tips-long-term-success-real-es
tate-Ontario.htm> 7 Tips for long term success in the real estate business
in Ontario

These are the
<http://www.mississauga4sale.com/Part-1-General-ideas-suggestions-motivation
al-quotes.htm> Ten specific Tasks that leading real estate salespeople do to
succeed in real estate

Once you have read through these pages, I would be happy to answer any
questions you may have.

Here is some information on motivation and universal success secrets
<http://www.mississauga4sale.com/Motivation-Success-Ten-Scrolls.htm>

I wish you all the best in everything you do in life!
Mark

A. Mark Argentino, P.Eng., Broker
RE/MAX Realty Specialists Inc.

Bus: 905-828-3434
email: mark@mississauga4sale.com
web: www. <http://www.mississauga4sale.com/> Mississauga4Sale.com

GTA Mortgage Interest Rate Update

2011-12-05T16:16:00.002-05:00

I thought that I would forward you some information sent to me about
mortgage interest rates that are posted and attainable in the GTA

Rates have stayed fairly consistent over the last few weeks.

The best rates from this person are show below.

If you need more information, please don't hesitate to contact me!

Term Best Rate Bank Rate
3 Yr Fixed 2.89% 4.25%
5 Yr Fixed 3.19% 5.35%
Variable 2.60% 3.00%

I hope this finds you Happy and Healthy!

All the Best!

Mark

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary & Quick Over-The-Net Home Evaluation ?
www.mississauga4sale.com/internet-evaluation.htm

* Power of Sales and Foreclosures
www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm

* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm

* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm

* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

TREB and GTA REALTORS Mid-November 2011 Resale Housing Market Figures

2011-11-17T14:56:00.001-05:00

GTA REALTORS® Report Mid-Month Resale Housing Market Figures

TORONTO, November 16, 2011 -- Greater Toronto REALTORS® reported 3,379 transactions through the TorontoMLS® during the first two weeks of November. This result represented more than a 13 per cent increase compared to November 2010. New listings were up 16 per cent over the same period.

“The results for the first two weeks of November point to two important facts: First, despite global economic uncertainty, buyers have remained confident in the affordable housing market in the GTA. Second, stronger growth in new listings means that it is becoming easier for buyers to find a home that meets their needs,” said Toronto Real Estate Board President Richard Silver.

The average selling price through the first 14 days of November was $481,548 – up by 10 per cent compared to the average of $437,510 reported for the first two weeks of November 2010.

“Little or no movement is expected for mortgage rates through 2012. Low rates coupled with the consensus outlook for continued economic growth next year suggests that homes will remain affordable in the GTA and households will remain confident in doing deals. Look for the average selling price to advance to the $485,000 mark next year,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.

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

Discounted commission rates and the buyer agent commission

2011-11-14T06:11:00.001-05:00

I had an interesting question from a buyer. Below is the question and my answer.
Mark

Hi Mark,

Thanks a lot for the very informative email. The house I am considering selling our house, if the buyer's agent gets 2.5% commission isn't the buyer then responsible to pay the HST on behalf of their real estate agent?

Thanks,

Hello MA

Even though the buyer's agent represents the buyer, 99.9% of the time (I'm guessing that maybe 1 in 1000 transactions the buyer may pay the commission to the buyer's agent) the agreement is that the listing agent pays the buyer the buyer's side of the commission and this is why the total commission to the seller is 5% or at least the buyer's agent side comes out of the total commission that the seller pays.

This is the way that it's set up in Ontario and it continues to work well.

In the US and other parts of the world the buyer's agent does get paid through the buyer, but in those cases or areas the lenders and banks need to be 'on board' and assess the property 2.5% (plus HST) higher than the price that the buyer pays in order for the buyer to pay the buyer's agent side of the commission, and it can become complicated.

This is the main reason why the commission split is similar to the way we have always done it even though the buyer's agent represents the buyer, the seller still pays the total commission.

Some Ontario lawyers have a problem with this, but let's not get into that!
:-)

All the best!
Mark

What happens if I want to break my lease?

2011-11-11T06:27:00.000-05:00

I had a question from a tenant about breaking a lease and wanted to share my answer with you.

What happens if I want to break my lease?

The question was: I wanted to ask you what are the consequences to breaking the lease? I didn't see anything specific on the lease we have with the landlord and wanted to know.

Thanks

My answer was:
Hi J,

There are a few options available to you.

Typically, you can't break a lease, unless you and landlord agree to penalty which is typically 2 months rent. I've even seen more than this amount, but 2 months is typical. The reason for a penalty is that it causes much aggravation for the landlord plus the landlord needs to re-rent the unit and this typically costs the landlord one month rent plus 13% HST on the one month commission so the landlord needs to recover their costs to re-rent the unit.

The whole point of you signing a 1 year lease or longer is so that you have 'security of tenancy' meaning that you cannot be removed from the unit during the term of your lease (unless for something like a flood or fire or extreme emergency major renovation, but you still have first right to re-enter the unit once it's ready) AND your rent is fixed for the duration of the term. These are two very important points in your favour as a tenant.

There are many others, but these are the major reasons for a fixed term lease.

The other option to get out of your lease is to assign the lease to someone else who will live in the unit or for you to sublet the unit to someone else. If you find a tenant who wants to live in the unit for the balance of your lease and the landlord agrees to accept that new tenant (after a credit and reference check) then that person can move into your unit and the new tenant will pay the landlord, this is s sublet. You are still ultimately responsible for the rent payment if the person who sublets doesn't pay, but that doesn't happen too often.

If you assign your lease to another person and they move into your unit, then your lease is void and you are not responsible any time in the future.

If you leave in the middle of your lease, the landlord can easily take you to court, even if you don't attend court, they will obtain a judgment in favour of the rental amount and the landlord can serve that judgment on your place of work and garnish your wages. They can also lien your vehicle and other remedies, I'm not an expert, but these are some of the options available to the landlord.

If you absolutely must break your lease, the best course of action is to give plenty of notice, pay a penalty for breaking the lease early and move on OR stay to the end and give your proper notice.

I hope that this helps!

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

Thank you,

Mark

Greater Toronto REALTORS reported prices up 8 per cent year over year Toronto MLS in October 2011

2011-11-10T06:58:00.002-05:00

This is the latest news from the Toronto Real Estate Board on Average sales
volumes and prices, market is very healthy!

Pace of Home Sales Remains Brisk in October

November 3, 2011 -- Greater Toronto REALTORS(r) reported 7,642 home sales
through the TorontoMLS(r) in October 2011. This represented an increase of
17.5 per cent compared to the 6,504 transactions reported in October 2010.

Monthly sales data follow a recurring seasonal trend that should be removed
before comparing monthly results within the same year. After adjusting for
seasonality, the annualized rate of sales for October was 97,100, which was
above the average of 90,700 for the first three quarters of 2011.

"The pace of October resale home transactions remained brisk in the GTA.
This bodes well for a strong finish to 2011," said Toronto Real Estate Board
President Richard Silver. "Home buyers who found it difficult to make a deal
in the spring and summer due to a shortage of listings have benefitted from
increased supply in the fall."

The average selling price through the TorontoMLS(r) in October was $478,137
- up eight per cent compared to October 2010.

"Sellers' market conditions remain in place in many parts of the GTA. The
result has been above-average annual rates of price growth for most home
types," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of
Market Analysis.

"Thanks to low interest rates, strong price growth has not substantially
changed the positive affordability picture in the City of Toronto and
surrounding regions."

I hope this finds you Happy and Healthy!

All the Best!

Mark

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary & Quick Over-The-Net Home Evaluation ?
www.mississauga4sale.com/internet-evaluation.htm

* Power of Sales and Foreclosures
www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm

* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm

* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm

* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

FW: China's Rich

2011-11-09T07:08:00.000-05:00

Interesting trivia tid bit...

There is 960.000 people in China worth more than U$ 1.000.000.
(There are now approx. 272 Billionnaires).

Oddly enough, more than 46 % intend to immigrate.

Reason: There are worried about the security of their assets.

Immigration choices: # 1 - United States, # 2 - Canada.

Let's hope that they all want to invest in real estate in GTA!!

Mark

REMAX Report for Greater Toronto Area since year 2000

2011-11-08T06:57:00.001-05:00

This is directly from the RE/MAX report on the GTA sales since 200, very interesting trends!

While a surge in new home construction and renovation has buoyed residential housing values across the Greater Toronto Area since 2000, single-detached homes in core neighbourhoods have experienced the greatest pressure on pricing in the past decade.

Overall average price in the GTA climbed from $243,255 in 2000 to $431,463 in 2010-an increase of just over 77 per cent (despite an expanded trading area).

Price appreciation has been more pronounced in Toronto district's C01 through 15,E1 through 3, and W1 through 10-where a single-detached home has appreciated by as much as 111 per cent(C11 - Leaside). From 2000 to 2010, residential building permits rose to just over $77 billion-more than doubling values posted in the previous decade.

Close to $6 billion was spent on building permits for renovation purposes during the same period, just a fraction of what is actually attributed to renovation spending in the GTA over the past decade. Infill ll has been a major driver. As such,the landscape of entire communities has changed over"From 2000 to 2010, the value of residential building permits rose to just over $77 billion."

the last decade, as larger homes and townhouse developments replace bungalows, storey-and-a-halves, and two storey properties. The trend is evident throughout the Greater Toronto Area-from Oakville to the Beach and all points north. Even the most prestigious addresses can present redevelopment opportunities-the Bridle Path is case in point where many of the smaller ranch-style bungalows sitting on two and three acres lots have been demolished to make way for 18,000 sq. ft. mansions.

With a disposal bin on what seems like every second driveway, homeowners have also been on a renovation tear in recent years. Approximately 35 per cent of the city's owned housing stock (Statistics Canada) was constructed prior to 1970. While maintenance and repair are a given for many, some buyers are taking their homes to the studs.The Greater Toronto Area is growing-and nowhere is that more evident than in the core. Sales of single-family dwellings have increased 54 per cent in the last 10 years,rising from 18,405 sales in 2000 to 28,387 in 2010.Condominiums have been in large part responsible for the upswing in sales - with renewed focus on higher density development in downtown Toronto.

Sales in C01 alone-the vast majority of which are condominium apartments and townhomes-have experienced a 212 per cent increase in the number of units sold between 2000 and 2010. With prices of single-detached product rising across the Greater Toronto Area, condominiums now represent the first - step to homeownership.

Trendy new condo enclaves have resurrected tired, older communities and given them a new lease on life. King St.West is leading the way, with Queen St. in hot pursuit.While affordability has driven the condominium lifestyle to a large extent-affluent empty nesters and retirees have been drawn to prestige developments in the city, including but not limited to the Ritz Carlton Residences, the Four Seasons Residences, the Hazelton,Shangri-La and the Trump Tower.

The most expensive sale - condo or single-family-has been the penthouse of the Four Seasons, with a sale price of $28 million-shattering all existing records to date. And while there are thousands of units coming on-stream in the year's ahead, absorption is not expected to be an issue.

Apartments that are not occupied by end users will likely end up in a rental pool. Vacancy rates in the city are trending lower, population is on the upswing in the GTA-rising almost 10 per cent from 2001 to 2006 and climbing,and new rental apartments are few and far between.

The future is bright for residential real estate in Canada's largest centre.

Economic fundamentals remain sound,with GDP growth expected to improve, and employment numbers on the upswing. Interest rates are forecast to remain stable, which should also serve to bolster homebuying activity in the months ahead. With inventory levels tighter than usual, continued upward pressure on pricing is a given.

Who says we are in a bubble? It appears to be real growth and the trend is continuing into this decade too!

I hope this finds you Happy and Healthy!

All the Best!

Mark

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary & Quick Over-The-Net Home Evaluation ?
www.mississauga4sale.com/internet-evaluation.htm

* Power of Sales and Foreclosures
www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm

* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm

* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm

* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

I wish I would have taken his advice starting 25 years ago!

2011-11-07T09:06:00.002-05:00

Unfortunately, I began investing in the stock market with my RSP's beginning
in 1981 and have contributed as much as I could over the past 30 years into
my RSP's. I checked the value last week and my entire RSP portfolio and the
returns are bleak, absolutely terrible. And these are all 'quality' mutual
funds. Ya right.

Every time I had 20% downpayment I should have purchased an investment
property rather than putting money into my RSP's I too "bought in" to that
philosophy, too bad. You can bet my son's won't follow my footsteps on this
one!

Read below what RE/MAX is showing as increases of house prices very RSP's,
you will be shocked!

Housing evolution driving average price appreciation in Canada's major
centres

Mississauga, ON (November 7, 2011) -- Billions spent in new construction,
renovation, and infill over the past decade have contributed to a serious
upswing in the calibre of Canada's housing stock, propping up residential
average price in the country's major centres,
<pdf housing report> according to a report released today by RE/MAX (pdf).

Since 2000, the value of a Canadian home has doubled, rising from $163,951
to $339,030 in 2010. Nowhere has the upswing been better captured than in
both the value of residential building permits issued nationally between
2000 and 2010 - at $340 billion - and the estimated $450 billion spent in
renovation. The impact of these two forces alone has fuelled the Canadian
residential real estate market - as well as the construction industry - for
more than 10 years.

As a result, investment in Canada's housing stock is at an all-time high in
the 16 Canadian residential real estate markets examined in the RE/MAX
Housing Evolution Report. Higher quality housing translated into
extraordinary price appreciation across the country - with 62 per cent (10
markets) experiencing increases in excess of 100 per cent since 2000.

I hope this finds you Happy and Healthy!

All the Best!

Mark

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary & Quick Over-The-Net Home Evaluation ?
www.mississauga4sale.com/internet-evaluation.htm

* Power of Sales and Foreclosures
www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm

* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm

* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm

* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

Mortgage Interest rates in the GTA and Mississauga

2011-11-04T08:05:00.000-04:00

Best mortage interest rates on the market today:

Term Our Rate Bank Rate
3 Yr Fixed 2.69% 4.25%
5 Yr Fixed 3.19% 5.35%
Variable 2.60% 3.00%

I hope this finds you Happy and Healthy!

All the Best!

Mark

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary & Quick Over-The-Net Home Evaluation ?
www.mississauga4sale.com/internet-evaluation.htm

* Power of Sales and Foreclosures
www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm

* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm

* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm

* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

Sherriff sales do they sell for market value or a deep discount?

2011-11-03T06:53:00.000-04:00

I had a question about a Sherriff sale and thought I would share my answer
with you.

The question was:

Hi Mark

Can you tell me please if you are familiar with the properties that are sold
by the Sheriff when he home owners lose out to banks or credit card
companies in hard times.

Typically do such properties go for market value or is there a possibility
that they can be had for a steep discount.

Many Thanks

My answer was:

This is a good question. A Sherriff sale is almost always sealed bidding,
so not too many details are known, except final winning bidder price.
Typically a Sherriff's sale will attract people from all over the area or
province.

If it's in a city, my understanding from speaking with people who have
attended recent Sherriff sales is that the properties sell for about what
they are worth, meaning at or near market value. Sherriff sales are
typically properties that are inaccessible, have structural, mould, fire or
other major problems or that the land is unusable because it is swamp or
inaccessible by road or any other type of major impairment that affects
market value.

If the Sherriff sale is for a 'regular' city type of property, as long as it
does not have any major deficiencies, then it will likely sell for about
market value. I would recommend that you attend a Sherriff sale to see the
dynamics and familiarize yourself with the process and to get a feel for
what happens at the sale.

I hope this finds you Happy and Healthy!

All the Best!

Mark

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary & Quick Over-The-Net Home Evaluation ?
www.mississauga4sale.com/internet-evaluation.htm

* Power of Sales and Foreclosures
www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm

* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm

* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm

* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

Current posted and acheivable mortgage interest rates on the market in the GTA

2011-11-02T09:45:00.001-04:00

Below are the current posted and achievable mortgage interest rates on the
market in the GTA

TERM POSTED BEST RATES*
6 Month 4.45% 4.45%
1 Year 3.6% 2.75%
2 Year 3.95% 3.04%
3 Year 4.35% 3.09%
4 Year 5.04% 3.09%
5 Year 5.54% 3.29%
7 Year 6.44% 4.49%
10 Year 6.8% 4.79%
Variable Rate 2.8%
Prime Rate 3%
Cost per $1000 $4.88

I hope this finds you Happy and Healthy!

All the Best!

Mark

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary & Quick Over-The-Net Home Evaluation ?
www.mississauga4sale.com/internet-evaluation.htm

* Power of Sales and Foreclosures
www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm

* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm

* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm

* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

Bank of Canada Prime Interest Rate October 25, 2011

2011-10-25T11:54:00.002-04:00

The Bank of Canada announced earlier this morning that they will leave the bank prime rate set at 1.0% This is the prime rate given to banks, not the public.

The prime rate for consumers will remain at 3.0%

This is welcome news for people who hold mortgages or loans or are desiring to obtain a loan, rates will remain low for the foreseeable future.

I wish you all the best!
Mark

PS: The major banks in Canada charge their best customers 2% above the Bank of Canada Prime Rate, which means that the Bank Prime or Prime Rate that we see is now 2.75%

Bank Prime Rate means "best" and this is the rate that banks charge their absolute best customers for loans, which is usually only other lending institutions.

Current mortgage rates for Toronto and the GTA

2011-10-23T17:03:00.003-04:00

Current mortgage interest rates

Term	Best Rate	Bank Rate
3 Yr Fixed	2.69%	4.25%
5 Yr Fixed	3.19%	5.35%
Variable	2.60%	3.00%

Toronto and GTA Real Estate rental market figures September 2011

2011-09-20T09:05:00.002-04:00

GTA REALTORS® RELEASE RENTAL MARKET FIGURES

Toronto, September 19, 2011 — Greater Toronto REALTORS® reported 6,933 apartment lease transactions through the TorontoMLS® system in the May through August 2011 period. This represented an 11 per cent increase compared to the same period in 2010.

The number of units listed during the period was also up, but by a lesser rate of four per cent compared to 2010.

“Condominium apartments represent a very important component of the rental housing stock in the GTA. We have seen very little purpose-built rental apartment construction over the past few years. This means that people looking to rent an apartment with modern finishings and amenities have by and large turned to investor-held condominium apartments to meet their housing needs,” said Toronto Real Estate Board President Richard Silver.

Average condominium apartment rents increased for all bedroom types. Average rents for one-bedroom and two-bedroom apartments during the May through August period were up by four and five per cent respectively compared to 2010.

“Growth in apartment rental transactions outstripped growth in the number of units listed. This means that competition between prospective renters increased. The result was higher average rents in comparison to last year,” said Jason Mercer, TREB’s Senior Manager of Market Analysis

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