Wednesday, December 26, 2007

Mississauga shows yearly growth in key areas

Mississauga shows yearly growth in key areas

Sales activity was down in the region served by the Mississauga Real Estate Board this September, according to MLS® statistics released by the Board.

Click Image below to see full size image



Click Image to see full size image

Home sales valuing a total of $309,279,301 were recorded in Mississauga this September. That's down 13 per cent from the August total, but up nine per cent from the total in September 2006. Over the course of the month, 886 residential properties traded hands in the area served by the Board. Although a decrease of 17 per cent from August, this represents a one per cent increase over September 2006.

The average price of homes sold this September through the local MLS® system in Mississauga was $349,074, which is five per cent higher than the average recorded in August 2007 and seven per cent above that recorded in September 2006. The Board cautions that the average residential price is a useful figure only for establishing trends and comparisons over a period of time. It does not indicate an actual price for a home due to the wide selection of housing available in the area


A total of 1,673 new residential listings were added to the local MLS® system in Mississauga this September, up 15 per cent from August. At the end of the month there were 2,452 active residential listings posted by Mississauga REALTORS® on the local MLS® system.


About the Mississauga Real Estate Board


Established in 1954, the Mississauga Real Estate Board represents more than 1500 real estate Brokers and salespersons from Mississauga and surrounding areas. Members of the Board may use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict Code of Ethics. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at

http://www.mreb.ca/

Read more about Mississauga Price Trends


Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale


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


Thursday, December 20, 2007

GST Reduction Information - Transition from 6% to 5% January 1st 2008



GST Reduction Information - Transition from 6% to 5% January 1st 2008

A reduction in the GST from 6 per cent to 5 per cent was announced by the federal government on October 30, 2007. With regard to the purchase price of residential properties, GST only applies to sales of newly constructed and substantially renovated homes.

GST is not applied to the purchase price of resale homes, but it does apply to REALTOR® commissions. The reduced rate will become effective on January 1, 2008; however, the reduced rate will apply to the purchase price of new homes immediately, subject to transitional rules.


GST Reduction Information

read all about it at this page

For more information, please contact the Canada Revenue Agency (GST Inquiries) at 1-800-959-8287

Read more about the GST reduction



Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale




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




Tuesday, December 18, 2007

Holiday Decorating Safety Tips



lHoliday Decorating Safety Tips:





Trees:



  • When purchasing an artificial tree, look for the label "Fire Resistant." Although this label does not mean the tree won't catch fire, it does indicate the tree is more resistant to burning.
  • When purchasing a live tree, check for freshness. A fresh tree is green, needles are hard to pull from branches and do not break when bent between your fingers. The trunk end of a fresh tree is sticky with resin, and when tapped on the ground, the tree should not lose many needles.
  • When setting up a tree at home, place it away from fireplaces and radiators. Because heated rooms dry live trees out rapidly, be sure to keep the stand filled with water. Place the tree out of the way of traffic and do not block doorways.

Lights:



  • Indoors or outside, use only lights that have been tested for safety by a recognized testing laboratory, such as UL or ETL. This indicates conformance with safety standards. Use only lights that have plugs containing fuses.
  • Check each set of lights, new or old, for broken or cracked sockets, frayed or bare wires, or loose connections. Throw out damaged sets. Always replace burned-out bulbs promptly with the same wattage bulbs.
  • If using an extension cord, make sure it is rated for the intended use.
  • Never use electric lights on a metallic tree. The tree can become charged with electricity from faulty lights, and a person touching a branch could be electrocuted.
    Before using lights outdoors, check labels to be sure they have been certified for outdoor use.
  • Stay away from power or feeder lines leading from utility poles into older homes.
  • Turn off all holiday lights when you go to bed or leave the house. The lights could short out and start a fire.
  • Use caution when removing outdoor holiday lights. Never pull or tug on lights – this could cause stress on the connections that could create a fire hazard.

Candles and Other Decorations:



  • Use only non-combustible or flame-resistant materials to trim a tree. Choose tinsel or artificial icicles of plastic or nonleaded metals. Leaded materials are hazardous if ingested by children.
  • Keep burning candles within sight.
  • Never use lighted candles on a tree or near other evergreens. Always use non-flammable holders, and place candles out of reach of children and pets.
  • In homes with small children, take special care to avoid sharp or breakable decorations, keep trimmings with small removable parts out of the reach of children who could swallow or inhale small pieces, and avoid trimmings that resemble candy or food that may tempt a child to eat them.
  • To avoid eye and skin irritation, wear gloves when decorating with spun glass "angel hair."
  • To avoid lung irritation, follow container directions carefully while decorating with artificial snow sprays.
Read more holiday tips

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale


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



Mississauga Real Estate Neighbourhood Watch ... Instant Email Notification - Did you know you can sign up for this service with no obligation

Buying Mississauga Real Estate Neighbourhood Watch ... Instant Email Notification

Sign up to Neighbourhood Watch



So what about those homes that were $10,000.00 too high, but you would have loved to purchase!?

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Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale

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

Monday, December 17, 2007

Canadian Resale Housing Market up 11.6% year over year - Good news for us all!


Canadian Housing: It is Legend

At least one Canadian economic train fully decoupled from the U.S. this yearthe housing market. Today's November existing home sales data from the Canadian Real Estate Association show that resale activity barely blinked in the face of the severe credit squalls in the Fall. Sales rose 3.2% from October, and were up a solid 7.6% from year-ago levels. While some of the sales strength may be attributed to a buying rush in Toronto ahead of a new land transfer tax in 2008, that city saw only the fourth strongest rise in the country, and no fewer than 10 of the 25 reporting cities posted double-digit y/y sales gains last month. Meantime, price increases just keep chugging along.


Average home prices were up 11.6% from year-ago levels in November, with 12 cities reporting double-digit increases.

All cities west of Lake Superior continued to report double-digit price increases last month, led by the 50% sprint in Saskatoon. (That was actually down a shade from the 57% spike seen earlier this year.) However, the price surge is not confined to Western Canada, as Toronto, Kitchener, Sudbury and Quebec City have also posted double-digit gains.


Meantime, the previously scorching Alberta markets continue to coolsales in both Calgary and Edmonton fell steeply from a year ago (Calgary down 18.4% y/y, Edmonton down 22.3% y/y), while new listings have posted double-digit gains. That's not a friendly combo for prices, looking ahead. Notably, only three cities reported sales declines in the first 11 months of the yearEdmonton, Calgary and Windsor. Elsewhere, however, markets still look tight, with rapid sales increases suggesting that prices could climb further in a number of cities.



The Bottom Line: Canadian home sales have hit a new annual high with one month left to go, an impressive performance in view of the traumatized U.S. market and the variety of risks facing the Canadian economy.


While there are plenty of questions surrounding the 2008 economic outlook, not many are from the domestic side of the equation. Housing may not manage to pack as strong a punch next year as it did in 2007 for the Canadian economy, but it's also highly unlikely to suffer a knockout blow either, a la the U.S. market over the past year.


Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale


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


Just announced, 1st time Buyers in Ontario will be eligable for Land Transfer Tax Refund!


Just in time for the holidays - First time homebuyers, in Ontario, will be eligible for a land transfer tax refund (up to $2000).


This was announced in yesterday's mini budget. Unfortunately, full details are not yet available on the government's website but I'm sure they will be soon: browse here.

Despite the drop in Bank Prime lending rates, fixed rate mortgages have remained unchanged.


The rate on variable rate mortgages fluctuates with prime, best I have seen is 5.40%.


I hope you find time to enjoy the lead up to the holidays,


Mark

Current mortage interest rates with some mortgage brokers I know

December 14, 2007


Prime Rate 6.00%
Variable Rate Prime less .60%
1 year closed 5.55%
3 year closed 5.70%
5 year closed 5.85%*
7 year closed 5.88%*
10 year closed 5.95%*
25 year closed 6.90%


* for mortgage of $500,000 or greater; slightly higher rates for lower mortgage amounts
Information subject to change without prior notice. APR.E.&O.E.


Read more about Land Transfer Tax in Ontario


Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale


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



Today's Current Posted and Discounted Mortgage Interest Rates in Ontario

Today's Current Posted and Discounted Mortgage Interest Rates in Ontario



read more about Mortage Interest Rates

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale



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



Friday, December 14, 2007

This weeks U.S. interest rate cut causes a stock sell-off

U.S. federal interest rate cut spurs stock sell-off

Fed lowers benchmark rate quarter-point to 4.25%, markets slump as hopes of bolder reduction dashed


Investors expecting an early Christmas present from the U.S. Federal Reserve saw their hopes dashed after the central bank announced a modest quarter-point cut to its benchmark interest rate and signalled it is keeping its options open on further cuts in 2008.

While yesterday's cut was in line with most economists' forecasts, Wall Street was hoping for a more aggressive half-point reduction to prevent America's housing and credit woes from pushing the world's largest economy into a full-blown recession. The federal funds rate, at 4.25 per cent, is now at a two-year low.

But that did little to placate nervous traders who punished stocks, taking square aim at financial issues.

Wall Street sustained the heaviest losses with the Dow Jones industrials plunging 294.26 points to 13,432.77. Bay Street was also swept up in the sell-off as the S&P/TSX composite index lost 216.65 points to 13,723.71. The Canadian dollar, meanwhile, shed 0.83 of a cent to 98.58 cents (U.S.).

"When the central bank cuts rates and financial stocks still sell off sharply, that gives you a sense that there is a lot of nervousness out there about the health of the financial sector," said Michael Gregory, senior economist with BMO Capital Markets.

Americans have been given plenty of reasons to worry in recent weeks. The Mortgage Bankers Association reported that U.S. home foreclosures hit an all-time high in the third quarter, suggesting the housing downturn is hurting a wide range of homeowners and not just those with subprime mortgages.

On that front, about $400 billion worth of subprime mortgages are scheduled for interest-rate resets beginning in 2008. Several big-name American banks have already disclosed hefty losses related to the subprime market, which targets clients with spotty credit histories. While the U.S. government recently announced a bail-out plan for some subprime borrowers, critics say the interest-rate freeze will only provide limited relief.

Meanwhile, the Fed announced it would hold a meeting next week to propose changes to mortgage regulations to address unfair and deceptive lending practices.

"You've got this outright home-price deflation in the U.S.," Gregory said. "It is affecting all homeowners and even those with very good credit, very good jobs are having a tougher time getting loans."

While lower interest rates may be the quick fix, the Fed is mindful that if it cuts rates too quickly it runs the risk of once again inflating asset prices, Gregory said. Yesterday's rate reduction follows a similar quarter-percentage point cut in late October and a bolder half-point cut in September.

"Incoming information suggests that economic growth is slowing, reflecting the intensification of the housing correction and some softening in business and consumer spending. Moreover, strains in financial markets have increased in recent weeks," the Fed said in its statement. "Today's action, combined with the policy actions taken earlier, should help promote moderate growth over time."

The Fed also noted core inflation readings have "improved modestly this year" but it's still concerned about higher commodity prices.

For their part, equity investors are fixated on lower rates because it makes it cheaper for businesses to borrow money, buttressing earnings and stock valuations.

The Fed also lowered its discount rate, the rate at which it lends to banks, by a quarter-point to 4.75 per cent. Traders were disappointed the spread between those two key rates was not narrowed more substantially.

"They maintained the discount rate spread of 50 basis points, which either indicates they don't regard the strains in the money market as a significant risk, or that an aggressive reduction won't do much good," Scotia Capital economists wrote in a commentary. "Neither explanation does much for the market's confidence."

Last week, the Bank of Canada cut a quarter-point from its key overnight rate to 4.25 per cent. Most economists expect the Fed to cut rates more aggressively than the Bank of Canada next year.

"We expect the Fed will be ready to cut policy rates again if economic and financial market conditions warrant and forecast another 50 basis points of rate cuts (in two 25 basis point increments) in early 2008," said Dawn Desjardins, senior economist with RBC.

That should stimulate the U.S. economy and stabilize American demand for Canadian-made goods, said Charmaine Buskas, senior economics strategist with TD Bank.

But not everyone is convinced the U.S. is teetering on the brink of a recession. Jeff Rubin, CIBC's chief economist, believes the American economy will "re-accelerate" in 2008, spurring North American stocks to new highs. He predicts the TSX composite index will hit 16,200 by the end of next year.

Read more about Current Mortage Interest Rates

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale

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


Thursday, December 13, 2007

Rental Market Outlook for 2008 - CHMC Rental Housing Market Report Highlights

CHMC Rental Housing Market Report Highlights

• The average apartment vacancy rate in the GTA was unchanged at 3.2 per cent in October 2007. Average same-sample two-bedroom apartment rents
increased by 1.2 per cent.
• Market conditions remained similar to 2006 because new renter household formation was offset by a movement of existing renter households into homeownership.
• The rental market will experience little change in 2008, with the average apartment vacancy rate at 3.5 per cent and average rents growing by less than the rate of inflation.


Market Conditions in Line With 2006

Rental market conditions in 2007 remained in line with those experienced in 2006. There was no change in the 3.2 per cent average apartment vacancy rate and same-sample
rents grew below the rate of inflation.

It is important to note that there was variation in rental market conditions across the different sub-markets of the GTA.
Market Several factors contributed to stability in vacancy rates in 2007. Increased home ownership demand, especially from the first-time buyer segment of the market, resulted in a substantial number of households vacating their rental accommodation


CMHC Rental Market Outlook for 2008

  • Demand for rental housing in 2008 will remain on par with what was experienced in 2007.

  • The overall apartment vacancy rate will be 3.5 per cent.

  • The average two-bedroom rent will increase by 1.5 per cent.

  • The movement to home ownership will continue to be a drag on the rental market, but in a different fashion.

  • While both existing and new home sales are forecast to edge slightly lower next year, first-time buyers will continue to vacate rental accommodation in favour of home ownership. This movement, however, will be based on a strong increase in condominium apartment completions in 2008. More than double the number of condominium apartment completions experienced in 2007 will occur next year.

  • In addition, investor-held condominium apartments in the secondary rental market will attract some renter households out of the primary rental market, due to a higher level of finishings and amenities.

  • Factors that will continue to influence the demand for rental include the following:
  • Growth in youth employment will continue due to tight labour market conditions;

  • Immigration will continue to trend upward; and

  • Rental affordability will continue to improve as household earnings outstrip growth in average
    rents.

Read more about rental properties and finding a rental property

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale


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



    Wednesday, December 12, 2007

    RE/MAX Commercial - Roll the Dice or Go with RE/MAX - Anything Less is Second Best!

    This is a video of a 30 second RE/MAX Commercial showing that you require a RE/MAX Agent to sell your home.

    video

    As the commercial states, 'do you think it's easy to sell your home?'

    Choose RE/MAX becuase we sell more, we know more, we advertise more.

    In reality real estate is no game, you can roll the dice or go with RE/MAX - Anything Less is Second Best!

    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

    Current Mortgage Interest Rates for Canada

    Current Mortgage Interest Rates for Canada

    Below are spot rates from First Line Mortgages

    ***Prime rate is currently 6.00%

    ***First Line Mortgages is offering a rate of 5.90% for a fixed term with a special renewal date of Nov.2012 in order to coincide the American Presidential election.

    Historically, Canada's fixed rates drop around the election time and this affords clients the possibility of renewing at a time when rates will be low.

    5 Year
    Variable
    5. 40 %
    (. 60 % below prime for the entire term)
    5 Year Fully Open
    Variable
    . 75 % below prime
    3 Year Closed 5. 70%
    5 year Closed 5. 83 %
    7 Year Closed 5. 88 %
    10 Year Closed 5. 95 %





















    Example purchase at $450,000
    Purchase price $450000 $450000 $450000 $450000
    Down payment $22500 $45000 $67500 $112500
    Payments per week $465.27 $440.78 $416.29 $367.32
    Household income required $83400 $79500 $75500 $67500



    See current Mortgage Interest nterest Rates,



    Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale

    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





    Alberta Prices are changing - Canadian Housing Market Commentary

    Housing Market Commentary

    CANADIAN HOME PRICES NO LONGER AN ALBERTA STORY

    According to the latest MLS / CREA existing home market data for October, year-to-date national resale home prices are up 10.5%. They will average close to $305,000 in 2007 compared to around $275,000 last year. This will mark the third consecutive year of 10% appreciation or more in the average Canadian existing home, a remarkable performance. But much of the price gains in recent years have been driven by markets west of Ontario, most notably in Alberta — where gains were outsized. National housing market statistics had lost much significance over the last three years due a marked divergence in performance between "the West and the rest". In particular, along with 30%+ sustained price gains over the last two years and because of their significant and growing market size, Calgary and Edmonton were skewing the national figures.

    Yet as we crunch the numbers and look forward to 2008-09, we can state with some assurance that this particular chapter in Canadian housing market history is soon coming to an end, if not already behind us. Alberta's home price growth is cooling rapidly. The pickup in national average prices since January is mostly an Eastern markets story. After bottoming out in terms of home appreciation during the tail-end of 2006, Quebec and Ontario (and the Atlantic region to a lesser extent) continue to pick up enough steam to push up the national trend despite a massive cool down out West. This is particularly notable in Ontario where an uptrend since April has contributed heavily to a bounce-back in overall Canadian prices. We expect Alberta's home prices to grow close to par with the national average in 2008 and to underperform in 2009. And while Saskatchewan is currently on fire, it will likely follow a similar path in about 12 months time. Furthermore, Saskatchewan would not on its own skew the national numbers given its smaller market size.

    With much less regional dispersion around the Canadian mean, national numbers start to have meaning again. This is reflective of underlying market (demand/supply) conditions: Calgary and Edmonton have become much more balanced with more listings coming on tap and sales slowing, whereas most large urban markets in Ontario and Quebec have seen the reverse, with their markets tightening.

    Under a reasonable scenario of a continued cool down in Alberta (and in British Columbia to a lesser extent) and that Ontario and Quebec hold in around 7-9% or higher for a few months, then resale price growth performances should converge sometime in the second quarter of 2008.

    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. Homes for Sale

    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

    Tuesday, December 11, 2007

    Canadian Housing Starts still high -- November 2007


    Canadian Housing Starts Steady


    New housing construction showed no signs of letting up in November. Housing starts, at an annualized rate of 227,900, were virtually unchanged from October and roughly in line with both market expectations and the pace in the last 12 months. Activity on the single-detached side bounced to its strongest level since March 2006, more than retracing some softness in October. The multi-units side continued to digest a 29-year-high spike in September and fell for the second straight month.


    On a provincial basis, activity cooled in six provinces in November with the biggest declines in Quebec, Nova Scotia and Manitoba. Hefty gains in Ontario and B.C., however, heated things just enough to keep the overall temperature steady. In recent months, momentum has shifted from Alberta to B.C. as Western Canada's housing construction hotspot. In Central Canada, Ontario has regained leadership (notwithstanding a multi-unit surge in September), while Newfoundland & Labrador is the key engine in Atlantic Canada.


    The Bottom Line: Despite earlier concerns about the potential impact of the financial market storm on Canadian housing demand, home building remains a pillar of strength in the Canadian economy. With strong job creation and favourable interest rates still providing support, residential construction is carrying good momentum into 2008.


    read more about GTA Property Trends


    Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale


    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



    Monday, December 10, 2007

    Power of sale listings and prices that they sell for compared to average listing to sale price percentages in Mississauga

    The table below shows the average, mean, mode, low and high figures for power of sale properties in Mississauga only over the past 90 days. This will give you a general idea of what power of sale properties sell for. Typcially, for comparison, regular non power of sale properties sell for about 98% of asking. Thus POS properties sell for about 1% less than the average.

    The table and info below is for Mississauga over the past 90 days, and you can see in the table below one can see that pos properties sell, on average for 96.99% of asking price, would this information be helpful?

    Statistics

    Field#Mean
    (Average)
    MedianLowHigh
    List Price92$276,555$258,700$105,000$849,900
    Original Price88$280,806$267,250$119,000$849,900
    Sold Price84$259,345$247,400$102,000$608,000
    % List8096.999788110
    Taxes53$2,527$2,406$1,293.25$4,772
    Bedrooms923315
    Washrooms922.4215
    Days On Market8735292112

    Counts

    FieldValueCount
    AreaWest TREB Districts92
    DistrictW129
    W132
    W147
    W1519
    W1610
    W1813
    W1914
    W2018
    MunicipalityMississauga92
    Last StatusExp2
    Sld84
    Sus1
    Ter5
    TypeAtt/Row/Twnhouse4
    Condo Apt27
    Condo Townhouse13
    Detached21
    Semi-Detached27
    Style2-Storey36
    3-Storey3
    Apartment25
    Backsplit 32
    Backsplit 47
    Backsplit 52
    Bungalow7
    Bungalow-Raised5
    Loft2
    Other1
    Stacked Townhse2

    Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale

    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