Tuesday, April 29, 2008

REMAX reports Rising housing values and lack of inventory challenge first-time buyers

Rising housing values and lack of inventory challenge first-time buyers, says RE/MAX

"Homeownership continues to be primary objective" KELOWNA, BC, April 22 /CNW/ -
While higher housing values and tight inventory levels have hampered home-buying activity so far this year, longer amortization periods and alternative housing types have offset the impact on most major markets across the country, according to a report released today by RE/MAX

Despite a higher degree of frustration in the marketplace than in previous years, the RE/MAX Affordability Report found that first-time buyers, in particular, remain steadfast in their determination to purchase a home

In fact, entry-level purchasers are adjusting their expectations by sacrificing size, location, and even long-term financial freedom, to overcome challenges such as rising prices and serious supply issues
Innovative financing has become key to homeownership in today's environment - with longer amortization periods gaining favour in 62 per cent of the major centres surveyed
Low or no down payments were popular with first-time buyers in 38 per cent of markets
"First-time purchasers continue to play a pivotal role at both a local and national level," says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada
"The impact they have on the housing market is significant, as they are the impetus for sales in the mid-to-upper price ranges
As long as this segment of the market remains healthy, the real estate outlook will continue to be favourable
" Inventory levels, however, remain one of the foremost concerns facing purchasers across the country
A shortage of available entry-level product was identified as a major obstacle impeding buyer intentions in three-quarters of markets surveyed in the report, including St
John's, Moncton, Fredericton, Halifax-Dartmouth, Ottawa, Greater Toronto Area, Hamilton-Burlington, Niagara Falls, Winnipeg, Regina, Saskatoon, Greater Vancouver, Victoria and Kelowna
"Doom and gloom reports coming from south of the border have yet to hinder overall momentum," says Michael Polzler, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada
"First-time buyers are still leading the charge, taking advantage of every resource available to achieve homeownership
They're determined to get into the market sooner rather than later
If suburban locations, smaller condominiums and town homes, or a little sweat equity is what it takes to get into the market, these purchasers are game
" Although average price is the barometer for housing values in most major centres, first-time buyers looking to achieve homeownership consider starting prices a more meaningful gauge of affordability
Starting prices can be substantially lower than the market average
For example, average price has surpassed the $600,000 benchmark in Greater Vancouver, while the starting price for a detached home can hover as low as $237,500 in the peripheral areas
The best value for the dollar continues to be found in the suburbs
For those unwilling to sacrifice on location, small condominium units in new developments and condominium conversions of rental buildings offer up the next best alternative
Condominium conversions in some of the country's major centres can be picked up as low as $150,000 to $175,000
To view the full RE/MAX Affordability Report 2008, click here: http://filesnewswireca/348/REMAXAfford2008pdf

Read more about: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
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Homes for Sale

Monday, April 28, 2008

Detached home in city of Toronto for $169,900

I would not have believed it unless I had seen the listing myself.
There is a detached home in Toronto for $169,900 It's a power of sale and needs work, but hey, $169,900 in Toronto, what did you expect. See the listing below and let me know if you would like to see inside this home.
Thanks
Mark
MLS# W1354625
Prepared by A. MARK ARGENTINO, Broker
RE/MAX REALTY SPECIALISTS INC., BROKERAGE
2691 Credit Valley Road, Mississauga, ON L5M7A1
905-828-3434
4/28/2008 1:15:47 PM

13A Denarda St $169,900
Toronto, Ontario M6M4T2 W04 108-11-K
SPIS: N Taxes: $0/2008

Detached Fronting On: S Rooms: 6
2-Storey Acreage: Bedrooms: 3
Dir/Cross St: Eglinton/Weston Washrooms: 1
Lot: 21X110 Feet 1x3
Lot Irreg:

MLS#: W1354625 DOM: 7 Possession: Immed/Tba
PIN#: Contract Date: 4/21/2008

Kitchens: 1
Fam Rm: N
Basement: Full

Fireplace/Stv: N
Heat: Gas
Forced Air
CAC: N Central Vac:
Apx Age:
Apx Sqft:
Assessment:

Elevator: Laundry Lev:
Exterior: Stucco/Plaster

Drive: Other
GarType/Spaces: None/0
Parking Spaces: 1
UFFI:
Pool: None
Zoning:
Cable TV: Hydro:
Gas: Phone:
Water: Municipal
Water Supply:
Sewers: Sewers
Spec Desig: Unknown
Farm/Agr:
Waterfront:
Retirement:



# Room Level Dimensions (m)
1 Living Main 3.75 x 2.93
2 Dining Main 2.99 x 2.98 2 Pc Ensuite
3 Kitchen Main 3.22 x 2.79 W/O To Yard Family Size Kitchen
4 Master 2nd 3.57 x 3.29 Hardwood Floor
5 2nd Br 2nd 2.97 x 2.13 Hardwood Floor
6 3rd Br 2nd 2.13 x 3.05 Hardwood Floor

Power Of Sale;Ready For Drywall And Flooring;Detached 2 Storey 3 Bedrooms;Eat-In Kitchen;Walk Out To Yard;Side Door To Basement;Walk To Public Transit;Schools And Shopping.
Power Of Sale;Being Sold 'As Is,Where Is'.Newer Alumunium Windows;Newer Furnance;Upgraded Electrical.

Toronto Real Estate Board (TREB) assumes no responsibility for the accuracy of any information shown. Copyright TREB 2008
Read more about: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
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Homes for Sale

20 Questions to ask your agent before you hire him!

Important Questions to Ask an Agent Before Listing Your Home for Sale





  • Do you have an active real estate license in good standing?

  • How long have you been licensed as an agent?

  • Why do you think I should list with you?

  • What professional designations do you hold?

  • What party will you represent -- the buyer or the seller?

  • What services do you offer?

  • Do you belong to an online homebuyer's search service?

  • Have you listed or sold in my neighborhood lately?

  • How will you price my home?

  • How will you market my home?

  • How will you keep in contact with me during the selling process, and how often?

  • What is your fee?

  • Will you cooperate with buyers' brokers?

  • What share of commission will you offer a cooperating broker who finds the buyer?

  • What awards have you won?


Important Questions to Ask Yourself About the Agent





  • Is the agent a good listener?

  • Is the agent accessible?

  • Is the agent part-time or full-time?

  • Is the agent cooperative and enthusiastic, or rude and arrogant?

  • Do you think you can have a good working relationship with the agent?
    answers_to your_questions

answers to your questions : http://www.mississauga4sale.com/twenty.htm

Friday, April 25, 2008

Current Ontario Canada Mortage Interest Rates

The table below shows current posted and possible mortgage interest rates in Ontario. You will note that most lenders are offering .5% off the Bank Prime Rate for Variable Rate mortgages.
The rate drop game continues. Although the prime rate has dropped about 1.5% over the past 6 to 8 months, the 1-10 year mortgage rates have barely budged, maybe about .3% The best rates are the variable these days.

TERMPOSTED OUR RATES*
6 Month 6.40%6.40%
1 Year6.95%4.90%
2 Year7.00%5.14%
3 Year7.00%5.05%
4 Year6.85%5.44%
5 Year6.99%5.34%
7 Year7.40%6.00%
10 Year7.75%6.25%
Variable Rate4.15%
Prime Rate4.75%










* Rates may vary provincially and are subject to change without notice.
Rates Last Updated: Thursday, April 24, 2008

Read more about: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
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Homes for Sale

Wednesday, April 23, 2008

What does the recent drop in mortgage interest rates mean to you?


What do the recent drop in interest rates mean to you?


As everyone is by now aware, the Bank of Canada lowered their prime lending rate by 50 basis points yesterday bringing the rate down to 4.75%. This means that we are now seeing variable rates as low as 4.15%!


While they have lowered the rate by 1.5% since December, it is unlikely that we have seen the last of the cuts. The next Bank of Canada meeting is scheduled for June 10 where we can expect the rate to come down by another 25 basis points, which experts believe to be the last adjustment of the year. This would mean anyone with a variable rate at 0.6 below prime would be paying 3.90%!



As of right now, the variable rate is at 0.6 below prime as mentioned. With the rates coming down, we may end up seeing an upward adjustment to this figure in the near future. The lowest available rate right now on a five year fixed remains at about 5.35%, but I expect to see fixed rates dropping over the next few weeks. I will keep you posted.



If you are contemplating renewing or a purchase, I can help you with putting you in contact with excellent mortgage people.


Please email me and see for yourself the strong commitment I have to you, as well as to the superior customer service you can expect from me.


Thank you,
Mark

http://www.mississauga4sale.com/Rates-Current-Posted-Mortage-Interest-Rate.htm

Read more about: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
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com


Homes for Sale

Tuesday, April 22, 2008

Interest Rates Bank of Canada cuts 50 points


Bank of Canada Slashes Interest Rate Again!
This could be the final cut for some time to come as the Bank of Canada cuts another 50 points off the key rate
In a widely expected move, the Bank of Canada cut its key interest rate by 50 basis points, or half a percentage point, on Tuesday। The cut brings the key rate to just 3 per cent.

The latest reduction brings the number of consecutive cuts to four since last summer, totalling 150 basis points, as the central bank attempts to deliver some stimulus to the slowing economy।
Inflation, however, does not appear to be a big concern thanks largely to the offsetting impact of the strong Canadian dollar. In the latest report from Statistics Canada, year-over-year inflation as measure by the consumer price index rose just 1.4 per cent in March, well within the central bank's target. The bank believe inflation will rise to about 2 per cent by 2010


In its accompanying statement, the Bank of Canada noted that the economic slowdown in the United States is expected to be deeper and more protracted, causing the Canadian economy to expand at a 1.4 per cent pace.

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

Read more about: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
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com


Homes for Sale

RE/MAX report Rising housing values and lack of inventory challenge first-time buyers

Rising housing values and lack of inventory challenge first-time buyers, says RE/MAX

"Homeownership continues to be primary objective"

Mississauga, ON (April 22, 2008) -- While higher housing values and tight inventory levels have hampered home-buying activity so far this year, longer amortization periods and alternative housing types have offset the impact on most major markets across the country, according to a
report released today by RE/MAX.


Despite a higher degree of frustration in the marketplace than in previous years, the RE/MAX Affordability Report found that first-time buyers, in particular, remain steadfast in their determination to purchase a home. In fact, entry-level purchasers are adjusting their expectations by sacrificing size, location, and even long-term financial freedom, to overcome challenges such as rising prices and serious supply issues. Innovative financing has become key to homeownership in today's environment – with longer amortization periods gaining favour in 62 per cent of the major centres surveyed. Low or no down payments were popular with first-time buyers in 38 per cent of markets.


"Doom and gloom reports coming from south of the border have yet to hinder overall momentum," says Michael Polzler, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada. "First-time buyers are still leading the charge, taking advantage of every resource available to achieve homeownership. They're determined to get into the market sooner rather than later. If suburban locations, smaller condominiums and town homes, or a little sweat equity is what it takes to get into the market, these purchasers are game."

Inventory levels, however, remain one of the foremost concerns facing purchasers across the country. A shortage of available entry-level product was identified as a major obstacle impeding buyer intentions in three-quarters of markets surveyed in the report, including St. John's, Moncton, Fredericton, Halifax-Dartmouth, Ottawa, Greater Toronto Area, Hamilton-Burlington, Niagara Falls, Winnipeg, Regina, Saskatoon, Greater Vancouver, Victoria and Kelowna.

RE/MAX Affordability Report 2008

"First-time purchasers continue to play a pivotal role at both a local and national level," says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. "The impact they have on the housing market is significant, as they are the impetus for sales in the mid-to-upper price ranges. As long as this segment of the market remains healthy, the real estate outlook will continue to be favourable."

Although average price is the barometer for housing values in most major centres, first-time buyers looking to achieve homeownership consider starting prices a more meaningful gauge of affordability. Starting prices can be substantially lower than the market average. For example, average price now approaches $400,000 in the Greater Toronto Area, while the starting price for a detached home can be as low as $300,000 in areas east and west of the city.

The best value for the dollar continues to be found in the suburbs. For those unwilling to sacrifice on location, small condominium units in new developments and condominium conversions of rental buildings offer up the next best alternative. Condominium conversions in some of the country's major centres can be picked up as low as $150,000 to $175,000.

Read more about: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
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Homes for Sale

Friday, April 18, 2008

Lawyer check-up just as important as doctor visit

When was your last check-up. with your lawyer?

Most of us see a regular check-up with our doctor as preventative medicine. Similarly, a simple visit with your lawyer could prevent or minimize legal problems for you in your future. Too often we don't take the time to consider if our current financial or legal situation is right for us, or whether our arrangements will work in our best interest in the event that something should happen to us or our families.


A good time for a legal check-up is when you are meeting with your lawyer anyway, such as when you refinance your mortgage.


"A mortgage is a large financial commitment and getting professional advice when you are refinancing can be invaluable to protecting your interests and saving money," says Kathleen Waters, a specialist in real estate law and vice president of TitlePLUS title insurance. "Having a lawyer involved helps borrowers understand the transaction and know their legal options."


You may not even be aware of some potential problems. For example, your mortgage may prevent you from renting out part of your house, as planned. Your lawyer can help negotiate more suitable mortgage terms or suggest other options.


If you did not buy title insurance when you bought the property, your lawyer can discuss its benefits and help you obtain a policy, if appropriate. For example title insurance may protect you if your property is the target of a fraud scheme.


Meeting with your lawyer when you are refinancing is also the perfect time for a tune-up of other legal matters. Do you have a will and is it up-to-date? Getting married, separated, divorced or having a child are just some of the reasons for updating your will.


Have you signed powers of attorney for property and/or health care? These are very important documents that can allow others to manage your assets (such as paying your bills) or make decisions about your health care when you are incapacitated. Having these documents and keeping them up-to-date can help to avoid costly court applications by family members who need to manage your assets.


A useful resource is the TitlePLUS Real Simple Real Estate Guide, a website that provides information on what lawyers do and how to avoid fraud, as well as mortgage calculators, a locate-a-lawyer feature and other tools. It is available for free at www.titleplus.ca. www.newscanada.com


See my list of lawyers that I recommend


Read more about: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
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com



Homes for Sale

Wednesday, April 16, 2008

Variable rate versus fixed rate mortgages, what is the way to go?

Variable rate mortgages currently make up only about 20% of the Canadian market. We've seen a significant shift towards fixed in the past year or so, but now consumers are going back to variable because Prime is falling. I suspect this move to variable will continue for the next few months, but it will be short-lived.

If the Bank of Canada rate is going to fall by another 50 bp, it will happen within the next few months. But that doesn't mean the 5 year rate will also fall by that much.

Remember, the bond market is already expecting this much of a cut in Prime and is discounting the 5 year rate based on that expectation. So while Prime may drop in the next few months, the 5 year rate will likely be relatively stable or slightly lower.

"aT Some PoinT, We'LL See a SiTuaTion in WhiCh going variaBLe may no Longer Be The BeST aPProaCh."

At some point—and it's getting closer—we'll see a situation in which going variable may no longer be the best approach. By cutting rates very aggressively now, the Bank of Canada is planting the seeds for inflation down the road. By the end of the year, it's possible that we'll see a
significant correction in the bond market as the economy improves and inflation rises. If this happens, spreads will go back to normal and the 5 year rate will actually rise.


Paying close attention to developments at this point is much more critical than at any time in recent history. A few years ago we could predict that short term rates were falling, so taking a variable rate mortgage was the right thing to do.

Now, we know that inflation may start rising and therefore the 5 year rate will start rising at some point. But that can happen even earlier than we expect.

Clients need to be aware that while the 5 year rate is currently attractive, it can change quickly. Rates could rise by as much as 75-100 bp in 2009. It's very difficult to predict. But clients need to understand this risk. This indicated the importance of inTereST raTeS and STreSSeS The
imPorTanCe oF STaying CurrenT on raPidLy Changing evenTS.

http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm

Read more about: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
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Homes for Sale

Tuesday, April 15, 2008

RBC reports that City labour markets keep on outperforming

RBC reports that City labour markets keep on outperforming



Canada's job market generated 358,000 new jobs last year, pushing the unemployment rate down to its lowest level in 33 years.



January job numbers signalled that the momentum is carrying into 2008 with labour markets outperforming expectations yet again. The strong acceleration in wage gains evident late last year is also carrying through into 2008.



The 27 census metropolitan areas (CMAs) we track in this report account for roughly 70% of jobs nationwide and, therefore, are a good gauge of the key trends in Canadian cities. The service sector in these CMAs supported overall job gains during the last year with 279,000 new jobs created, while the goodsproducing sector added 5,700 new jobs. Goods-sector employment is typically more volatile (chart 1) compared to service-sector employment.


Goods-sector employment in the CMAs has been on a generally slowing trend since 2002 in line with a strengthening currency and rising commodity prices, but not without some choppiness on the way down.



In the last five years, the average annual rate of growth in the goods sector was nearly flat at 0.4%, while service sector employment has moved along at a solid 2.4% pace.




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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
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com


Homes for Sale

Saturday, April 12, 2008

Current posted and Attainable Mortgage Interest Rates in the GTA

Current posted and attainable mortgage interest rates from various mortgage brokers
TERMPOSTED OUR RATES*
6 Month 6.95%6.50%
1 Year7.15%5.04%
2 Year7.20%5.49%
3 Year7.20%5.25%
4 Year7.04%5.59%
5 Year7.19%5.37%
7 Year7.60%6.20%
10 Year7.95%6.25%
Variable Rate4.65%
Prime Rate5.25%

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

Read more about: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
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Homes for Sale

Friday, April 11, 2008

CMHC Report on the New Home Market

CMHC Report on the New Home Market

Strong January Apartment Starts

On the strength of condominium apartment construction, total Greater Toronto Area (GTA) housing starts for January were five per cent higher than experienced one year earlier, reaching 2,730.

January results were in line with expectations for 2008. Condominium apartment starts will increase this year, while low-rise starts will edge lower. Strong condominium apartment starts will be based on record pre-construction sales over the past three years.

As an increased number of condominium apartments reach the completion stage this year, builders will be able to shift resources to new projects in the development pipeline.

On the whole, demand for existing and new ownership housing has remained strong in the GTA, based on solid underlying fundamentals. A combination of steady job and income growth and low borrowing costs has kept home buyers confident in their ability to purchase and pay for a home over the long term.

Read more about: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
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Homes for Sale

Thursday, April 10, 2008

RBC reports that U.S. economy should skirt recession and expect second half of 2008 to rebound!

This is what the RBC is saying about the US economy

U.S. economy skirting recession; expected to rebound by the second half of 2008

The U.S. economy is slowing sharply on the back of the sustained deterioration in both the housing and financial markets, with the latter raising the cost of borrowing for both households and businesses. As a result, we are projecting flat growth in the first quarter followed by a small decline in the second, thus implying an economy on the brink of a recession.

However, growth will be much stronger by the second half, with the gains concentrated in the third quarter as the government's fiscal stimulus package boosts consumer spending and sends overall GDP up an annualized 2.9%. The expansion will continue in the fourth quarter, albeit at a slower pace than in the third quarter, with the effects of earlier interest rate reductions contributing to a 1.2% rise in output.

We are projecting real growth of 1.2% for 2008 as a whole. The easing in credit conditions will allow for stronger growth in 2009, with the economy forecast to expand by 2.0%. In the near-term, the economy will remain in a slow patch, weighed down by the persistent deterioration in the housing market and attendant rise in mortgage defaults and delinquencies. The fallout from the financial market volatility will be that companies will write-down the value of mortgage-related debt and, in turn, reduce the amount of credit available for loans to households and businesses.

This reduction in credit availability will temper consumer and business spending activity. We forecast average annual growth under 1% for consumption in the first six months of the year, with business spending likely to contract mildly during the period.

see our local trends and market Price Trends

Read more about: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
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Homes for Sale