Saturday, January 24, 2009

10 Questions to ask your realtor

These questions came across my desk the other day and I thought I would post them here.

I think that every buyer and seller should ask these questions to their prospective agent, you'd be surprised at the answers that you will get!

All the best!
Mark


10 Questions to Ask a Real Estate Agent - How to Interview an Agent

By Elizabeth Weintraub, About.com

Smart consumers interview potential real estate agents before deciding on whom to hire. Just as you are sizing up the potential for a good fit, rest assured that the real estate agent will likely be interviewing you, too. Be wary of agents who don't ask you questions and probe for your motivation. You wouldn't work with just any agent off the street, and good agents are just as selective about their clients, too. Caution: Don't interview agents from the same company! Ask your Scotiabank Mortgage Specialist to introduce you to a Scotiabank Key Partner Realtor.

1. How Long Have You Been in the Business? The standard joke is there's nothing wrong with a new agent that a little experience won't fix. But that's not to say that freshly licensed agents aren't valuable. Much depends on whether they have access to competent mentors and the level of their training. Newer agents tend to have more time to concentrate on you. Some agents with 20 years of experience repeat their first year over and over. Other 20-year agents learn something new every year.

2. What is Your Average List-Price-to-Sales-Price Ratio? Knowing the agent's average ratio speaks volumes. Excluding sizzling seller's markets, a good buyer's agent should be able to negotiate a sales price that is lower than list price for buyers. A competent listing agent should hold a track record for negotiating sales prices that are very close to list prices. Therefore, listing agents should have higher ratios closer to 100%. Buyer's agent ratios should fall below 99%.

3. What is Your Best Marketing Plan or Strategy for My Needs? As a buyer, you will need to know: How will you search for my new home?; How many homes will I likely see before I find a home I want to buy?; Will I be competing against other buyers?; How do you handle multiple offers?; Do you present offers yourself? As a seller, you will need to know: Specifically, how will you sell my home?; What is your direct mail campaign?; Where and how often do you advertise?; Will you show me a sample flyer?; How do you market online?

4. Will You Please Provide References? Everybody has references. Even new agents have references from previous employers. Ask to see them. Ask if any of the individuals providing references are related to the agent. Ask if you can call the references with additional questions.

5. What Are the Top Three Things That Separate You From Your Competition? A good agent won't hesitate to answer this question and will be ready to fire off why he/she is best suited for the job. Everyone has their own standards, but most consumers say they are looking for agents who say they are: Honest and trustworthy; Assertive; Excellent negotiators; Available by phone or e-mail; Good communicators; Friendly; Analytical; Able to maintain a good sense of humour under trying circumstances.

6. May I Review Documents Beforehand That I Will Be Asked to Sign? A sign of a good real estate agent is a professional who makes forms available to you for preview before you are required to sign them. If at all possible, ask for these documents upfront. As a buyer, ask for copies of the following: Buyer's Broker Agreement (is it exclusive or non-exclusive?); Agency Disclosures; Purchase Agreement; Buyer Disclosures. As a seller, ask to see: Agency Disclosure; Listing Agreement; Seller Disclosures.

7. How Will You Help Me Find Other Professionals? Let the real estate agent explain to you who he/she works with and why he/she chooses these professionals. Your agent should be able to supply you with a written list of referring vendors such as mortgage brokers, home inspectors and title companies. Ask for an explanation if you see the term "affiliated" because it could mean that the agent and his/her broker are receiving compensation from one or all of vendors, and you could be paying a premium for the service.

8. How Much Do You Charge? Don't ask if the fee is negotiable. All real estate fees are negotiable. Typically, real estate agents charge a percentage, from 1% to 4% to represent one side of a transaction: a seller or a buyer. A listing agent may charge, for example, 3.5% for him/herself and another 3.5% for the buyer's agent, for a total of 7%.

9. What Kind of Guarantee Do You Offer? If you sign a listing or buying agreement with the agent and later find that you are unhappy with the arrangement, will the agent let you cancel the agreement? Will the agent stand behind his/her service to you? What is his/her company's policy about cancelled agreements? Has anybody ever cancelled an agreement with him/her before?

10. What Haven't I Asked You That I Need to Know? Pay close attention to how the real estate agent answers this question because there is always something you need to know, always. You want an agent to take his/her time with you - to make sure you feel comfortable and secure with his/her knowledge and experience. He/She should know how to listen and how to counsel you, how to ask the right questions to find out what he/she needs to know to better serve you.

Friday, January 23, 2009

5 financial strategies to bolster your bottom line in uncertain times

I agree with all these 5 ideas, everyone should follow this philosophy!Problem is, when you are saddled with debt, it's difficult to do these things, but do what you can, you will be thankful in the future!All the Best!Mark
Scotiabank offers Canadians five financial strategies to bolster their bottom line in uncertain times

TORONTO, Dec. 29 /CNW/ - With holiday shopping and gift giving behind us and the New Year just ahead, now is the perfect time for people to take stock of their financial situation. While current economic conditions are challenging many Canadians to re-think their budget, Scotiabank has some practical suggestions to help households shore up their financial position.

1. Don't panic or make emotional decisions. One way to avoid the trap of leaping before you look and making financial or investment decisions you'll regret in the long run, is to manage stress by paying attention to your physical and emotional fitness. If you don't have a financial plan, now is the time to get one that emphasizes debt management andmap out your short and long term goals. Focusing on those goals will help you maintain perspective.

2. Pay down debt. Start by tackling consumer debt such as higher rate department store and other credit cards. Inform yourself about interest rates and options, such as a consolidation loan, that will help you free up cash for other priorities such as investing or paying down your mortgage.

3. Reduce your discretionary spending so you can redirect more money to debt repayment or savings. Review your household budget to track how much money is coming in, what your fixed expenses are and identify things you're spending money on that you could live without. For example, pack your lunch rather than eating out every day, cut back on magazine subscriptions or visit the library more often rather than buying books all the time. Then consider setting up an automatic savings plan so that the money you're saving comes straight out of your bank account. Before long, chances are you won't even miss it.

4. Make an RRSP contribution and then use your refund to help manage competing financial priorities. The refund could be used to pay down high cost debt, make an extra mortgage payment, open a new Tax-Free Savings Account (TFSA) or contribute to your child's Registered Education Savings Plan (RESP). Borrowing to make an RRSP contribution makes good fiscal sense if you are confident that you can pay the loanback relatively quickly.

5. Position your investment portfolio for recovery - but diversify to manage risk. Remember that when markets are down, there are investment opportunities that can potentially benefit your portfolio in the long term. Be diversified with an appropriate mix of asset classes (equity, bonds and cash equivalents) that fit your risk tolerance, investment time horizon and income requirements. Stay in regular contact withyour financial advisor to ensure your portfolio is appropriately balanced to meet your needs, manage risk, and to offset market fluctuations.

Thursday, January 22, 2009

Mortgage Rate inside information!

After the Bank of Canada's rate announcement Tuesday morning, the banks were unanimous in matching the rate drop.

The Prime lending rate, to consumers, has dropped to 3.00%.

Throughout the day yesterday, rate notices trickled in and below you'll find a recap of the best rates available this morning.....I'll keep you posted on any new changes.

There is aggressive pricing by some lenders - note the 1 yr rate of 3.99%.

Many clients anticipate further rate drops and are leaning towards variable rate mortgages.


Did you know....
  • Lenders will allow variable rate mortgage clients to switch into a fixed rate mortgage during the term BUT the majority of lenders don't commit to offering their lowest rates when the borrower decides to convert to a fixed rate. Out of the many lenders I know about, only a few state this promise in writing.
  • Mortgage interest is usually compounded on a semi-annual basis; however, several lenders use monthly compounding on their variable rate mortgage.....the interest cost is greater with monthly compounding. You need to know the difference in order to make an informed decision so make sure you ask!.

These are only 2 examples of the benefits clients get from working with an experienced mortgage specialists. I can put you in touch with a mortgage person who unlike a bank representative, is allowed to use many lenders which allows them to place you with the best mortgage solution. I sound like a mortgage broker, don't ?I! The bank rep won't point out the weaknesses in their product - it's the only one they have to sell. You will have choices and make sure you have all the information.

I'm always happy to hear from you, let me know if you have any questions or how I can help you!

All the Best!

Mark


MORTGAGE RATES
Best rates as of January 21, 2009

Prime Rate.........3.00%
Variable Rate......Prime plus .80%
1 yr fixed...........3.99%
3 yr fixed...........4.64%
4 yr fixed...........4.69%
5 yr fixed...........4.59% (over $500,000; otherwise 4.69%)
10 yr fixed..........6.45%

...other terms available; data subject to change without notice

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, January 20, 2009

Bank of Canada Prime Rate Reduced Again!

The Bank of Canada announced this morning another whopping rate cut, this time a 1/2 % rate reduction to an all time low of 1.0%

This time the central banks in Canada have followed suit or will follow the .5% reduction today.

Last time the Bank of Canada reduced the rate 3/4% and the banks only cut their interest rates by 1/2%, many were furious about this, myself included.

At least this time they reduced their lending rates the same amount, but they still are making billions in extra profits by not reducing the 1/4% last time. Not that I am feeling sour, just want you to know what's happening!

I hope this find you healthy and happy,
Mark

See current mortgage interest rates:
http://www.mississauga4sale.com/rates.htm

The official announcement and comments are below:
OTTAWA — The Bank of Canada has chopped its key interest rate by another half percentage point to its lowest level ever, and warned that the Canadian economy will contract by 1.2 per cent this year.

The central bank's target for the overnight lending rate now stands at 1 per cent – lower than in 1958, when the most-watched policy rate was 1.12 per cent.

“The outlook for the global economy has deteriorated since the bank's December interest rate announcement, with the intensifying financial crisis spilling over into real economic activity,” the bank said in its gloomiest statement yet.

Canada's major commercial banks, which came under fire in December when they passed on only 50 basis points of the 75-point rate cut made by the central bank, reacted swiftly to its latest move, passing along the full reduction. (There are 100 basis points in a percentage point.)

Toronto-Dominion Bank and Bank of Montreal responded by announcing they have cut their prime lending rates by 50 basis points to 3 per cent – and BMO also said it is cutting key mortgage rates by 30 to 50 basis points. Canadian Imperial Bank of Commerce, Royal Bank of Canada, Bank of Nova Scotia and Laurentian Bank of Canada said later in the morning that they, too, have cut their prime rate to 3 per cent from 3.5 per cent.

Last fall, the central bank had counted on the Canadian economy growing by 0.6 per cent this year. But since then, it has recognized that Canada is in recession, and now says the economy will shrink by 1.2 per cent in 2009, as the country succumbs to sagging global demand, lower energy prices and a collapse of confidence around the world.

“Canadian exports are down sharply, and domestic demand is shrinking as a result of declines in real income, household wealth, and consumer and business confidence,” the bank said.

The Canadian dollar fell sharply immediately following the bank's announcement, dropping as far as 78.76 cents U.S. As midday (ET) approached, however, it had edged up to 79.32 cents, down by 0.38 of a cent from Monday's official close.

Since slack is building up in Canada's economy and housing prices are coming down modestly, inflationary pressure should also ease, the bank explained.

Total inflation will likely fall below zero for much of 2009 because of lower energy prices. And even core inflation, which excludes energy and other volatile items, will drop to about 1.1 per cent at the end of this year, the bank said.

But the central bank sees a remarkably strong recovery in 2010, with the Canadian economy growing 3.8 per cent next year and inflation edging back up to hit the bank's two per cent target in early 2011.

In order for the recovery to take hold, the global financial system has to stabilize, the bank said, but added that that process has begun, “There are signs that these extraordinary measures [by governments and central banks] are starting to gain traction, although it will take some time for financial conditions to normalize,” the statement said.

Plus, the global economy should start to benefit from “considerable” monetary and fiscal stimulus, the bank said.

Canada's recovery should also be bolstered by the past depreciation of the Canadian dollar, the statement added.

The bank did not promise any further interest rates to follow. Instead, the bank pointed out that it had already reduced its key rate by three and a half percentage points since December 2007, and added that it would keep an eye on how the economy and markets develop, and decide accordingly what it should do with rates.

“Guided by Canada's inflation-targeting framework, the bank will continue to monitor carefully economic and financial developments in judging to what extent further monetary stimulus will be required,” it said.

Economists have warned that central banks need to be prepared to quickly reverse their aggressive interest rate cuts of the past year as soon as they see signs of recovery. Otherwise, there is so much monetary and fiscal stimulus floating around that today's disinflation could easily turn into an inflation problem when economies begin to grow again.

Economists have also been on the lookout for alternative forms of boosting the economy, aside from interest rates, with the U.S. Federal Reserve's key rate already hovering around zero, and the Bank of Canada at its lowest level too.

While Bank of Canada Governor Mark Carney has said previously that he is examining his options, there was no suggestion in Tuesday's statement that any non-conventional measure is imminent.

Still, with the federal budget just a week away, the government is expected to introduce several easing mechanisms, as well as a huge stimulus program to help ease the bite of the recession.

The Bank of Canada will issue a more complete economic outlook on Thursday.

Douglas Porter, deputy chief economist at BMO Nesbitt Burns said the commercial banks were able to lower their prime rates in tandem with the central bank cut because their own funding costs have edged down, and retail demand for the banks' own commercial paper is on the rise.

Mr. Porter also said in a note to clients that the central bank's “actions and words were almost exactly in line with expectations of the forecasting community,” while its near-term economic forecasts “closely mirror” BMO's.

“If global financial markets continue to stagger in the coming weeks, the [central bank] still has the room and the willingness to cut further as the need arises,” he added.

However, Erin Weir, economist for the Canadian arm of the United Steelworkers union, argued that the Bank of Canada did not cut rates enough.

“The [bank] should have matched the American Federal Reserve and cut to zero,” Mr. Weir said in a commentary – either to avert deflation or to stimulate the economy.

He added that the bank's “timidity reinforces the need for a substantial stimulus package in next week's federal budget.”




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

Saturday, January 17, 2009

Mortgage rate promotions in the GTA

Hello,

Hope you've have a good start in 2009.
I've seen some good news regarding rates in the marketplace: Fixed rates have dropped again.

I've seen some promotions as follows.

3 year fixed rate: 4.25%

1 year fixed rate: 3.99%

5 year fixed rate as low as 4.35%

5 year closed variable rate: Prime rate + 0.45% (3.95%)

Since the fixed rate is quite low, if you are locked into fixed rates at above 5%, you may consider to break the mortage, pay the penalty and save money in the long run.

For example, if you currently have a fixed rate 5% with 3 years left, by switching to 3 year fixed at 4.25%, you will save 0.75% per year, and 2.25% for 3 years.

The penalty for breaking your current mortage is 3-month interest, which is 5%/4 = 1.25% of your outstanding mortgage amount.

Thus you will save 1% of your outstanding mortgage amount for the remaining 3 years. If you have for example a $200,000 mortgage, that would be $2000 in savings.

Let me know if you any questions to ask about this plan and if you want to be put in touch with a mortgage person to help you with this.

Thank you,
Mark

Friday, January 16, 2009

Current Mortgage Interest Rates

This table below shows you the current mortgage interest rates here in the GTA

The Bank of Canada is meeting at the end of this month and it's likely that they will drop the prime rate again, mostly likely by .25% Most feel this may be the final cut in the prime rate.

I hope this finds you happy and healthy,
Mark



TERM
POSTED
"Best"
RATES*
6 Month 5.90%5.90%
1 Year5.60%4.00%
2 Year6.25%4.94%
3 Year6.25%4.75%
4 Year6.09%4.69%
5 Year6.75%4.79%
7 Year7.20%6.10%
10 Year7.55%6.25%
Variable Rate4.10%
Prime Rate3.50%
* Rates are subject to change without notice.
Rates Last Updated: Thursday, January 15, 2009
















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
\

Sunday, January 11, 2009

TREB January 2009 Report - 2,500 GTA Resale Home Sales in December, 74,000 total in 2008

January 2009 Report - 2,500 GTA Housing Resale's in December, 74,000 in 2008

December 2008 Sales volume down about 50% compared to November 2007

The average price increased about 2% in 2008 compared to 2007 average prices. This is a little less than most were predicting for 2008, but still, it was a fairly good year in real estate in Toronto and the GTA in 2008.

It appears the boom that has been going on since 1995 is over. We are clearly in a buyers market now and this could continue for at least the next 1 or 2 quarters, maybe longer. Only time will tell.

See the graph here: Toronto Real Estate Board (TREB) Average Prices and Graph

Or at this link:
http://www.mississauga4sale.com/TREBprice.htm#graph



This is the latest report from TREB on the past month and year.

The average price in December of 2008 came in at $361,415, compared to $394,931 in 2007, and $336,217 in December of 2006. For 2008 as a whole, prices averaged $379,347, compared to the $376,236 recorded in 2007, and the $351,941 average recorded in 2006.

TORONTO, January 9, 2009 –Toronto Real Estate Board Members reported 2,577 sales in December 2008, compared to the 4,646 recorded during the same month in 2007, and the 4,447 recorded in December 2006, TREB President Maureen O’Neill announced today. “Sales for the whole of 2008 were 74,552, compared to the 93,193 recorded in 2007, and the 83,084 recorded during 2006.”

The average price in the city was $387,482 compared to the $425,842 recorded in December of 2007 and the $350,139 recorded in December 2006. For all of 2008 the average was $410,271. In 2007 the comparable figure was $412,480, and in 2006 $378,776.

The 905 area saw 1,472 sales in December, from 2,344 in December of 2007 and 2,620 in December of 2006. For all of 2008, there were 44,674 sales in this region, versus 54,141 in 2007 and 48,680 in 2006.

The average price in the 905 was $341,847 in December, compared to $360,307 in 2007 and $326,509 in 2006. For all of 2008, the average was $358,665, as compared to $350,092 in 2007 and $332,976 in 2006.

The City of Toronto (416) recorded 1,105 sales in December, compared to 2,302 in December 2007 and 1,827 in December of 2006. For all of 2008, there were 29,878 sales, compared to 39,052 in 2007 and 34,404 in 2006.

Breaking down the total, 993 sales were reported in TREB’s 28 West districts and averaged $338,855; 473 sales were reported in the 14 Central districts and averaged $479,095; 491 sales were reported in the 23 North districts and averaged $381,975; and 620 sales were reported in TREB’s 21 East districts and averaged $291,488.

Median Price

The median price for December was $305,000, compared to $320,950 in 2007 and $290,000 in 2006.

The Median for the year as a whole was $325,000, as opposed to $318,200 in 2007 and $299,000 in 2006.

I wish you all the best!
Mark

Saturday, January 10, 2009

Have new MLS listings sent to your inbox

If you would like to receive new listings as they come on the market in the GTA, please sing up to my neighbourhood watch program. All you need to give me is your email and first name and I will send you listings that meet your pricing and area critiera. No charge for this service. Another valueable service for you brought to you by me with no strings attached!

Sign up here:
http://www.mississauga4sale.com/Neighbourhood-Watch.htmToronto Real Estate Board (TREB) Average Prices and Graph

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

Friday, January 09, 2009

TREB Real Estate results for December 2009 - Great Year

Toronto Real Estate Board (TREB) Average Prices and Graph You can see that 2009 was a good year for real estate. It began with a bang and ended with a wimper, but overall the prices and activity were very high. Most are anticipating that the average prices may fall about 3 to 5% in 2009. Of course, only time will tell, but our market is still quite strong and activiy during this first week of 2009 has been up compared to the past 2 months, from my perspective.



Read the full report and analysis of the results with graphs of prices and trends at this page:

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

This is what TREB reported today:

2,500 Sales in December, 74,000 in 2008

TORONTO - Friday, January 9, 2009 -- TREB Members reported 2,577 sales inDecember 2008, compared to the 4,646 recorded during the same month in 2007, andthe 4,447 recorded in December 2006, TREB President Maureen O’Neill announced today.“Sales for the whole of 2008 were 74,552, compared to the 93,193 recorded in 2007,and the 83,084 recorded during 2006.”


The average price in December of 2008 came in at $361,415, compared to $394,931 lastyear, and $336,217 in December of 2006. For 2008 as a whole, prices averaged $379,347,compared to the $376,236 recorded in 2007, and the $351,941 average recorded in 2006.

The City of Toronto (416) recorded 1,105 sales in December, compared to 2,302 in December 2007 and 1,827 in December of 2006. For all of 2008, there were 29,878 sales, compared to 39,052 in 2007 and 34,404 in 2006.

The average price in the city was $387,482 compared to the $425,842 recorded inDecember of 2007 and the $350,139 recorded in December 2006. For all of 2008 the average was $410,271. In 2007 the comparable figure was $412,480, and in 2006 $378,776.

The 905 area saw 1,472 sales in December, from 2,344 in December of 2007 and 2,620 inDecember of 2006. For all of 2008, there were 44,674 sales in this region, versus 54,141 in2007 and 48,680 in 2006.

The average price in the 905 was $341,847 in December, compared to $360,307 in 2007and $326,509 in 2006. For all of 2008, the average was $358,665, as compared to$350,092 in 2007 and $332,976 in 2006.

Breaking down the total, 993 sales were reported in TREB’s 28 West districts andaveraged $338,855; 473 sales were reported in the 14 Central districts and averaged$479,095; 491 sales were reported in the 23 North districts and averaged $381,975; and620 sales were reported in TREB’s 21 East districts and averaged $291,488.

Median Price

The median price for December was $305,000, compared to $320,950 in 2007 and $290,000 in 2006. For all of 2008, the Median was $325,000, as opposed to 320,950 in 2007 and $299,000 in 2006.


That's it, I will post more information and update my graphs shortly!

Thanks

Mark



I hope this finds you healthy and happy and I wish you and your family all the best in 2009!

Mark





For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1

BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com

Mortgage Interest Rate Update

Mortgage rates seem to be holding at about the same across the board over the past week or so.
It appears that there may be another Prime Rate drop on January 20th.T
here has been no change in Fixed Rates..but we may see some drop over in the next 3 weeks or so .
I wish you all the best!
Mark
TERMPOSTED OUR RATES*
6 Month 5.9%5.9%
1 Year5.6%4%
2 Year6.25%4.94%
3 Year6.25%4.84%
4 Year6.09%4.79%
5 Year6.75%4.72%
7 Year7.2%5.8%
10 Year7.55%5.95%
Variable Rate4.1%
Prime Rate3.5%
Rates Last Updated: Thursday, January 08, 2009

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

Scotiabank offers some finacial advice for Canadians

These are some of the items that Scotiabank has offered to Canadians in order to improve their financial situation. Some of these are fine ideas and I would agree that if you follow them, you will have a solid financial plan.

Enjoy

All the best in 2009!
Mark


Scotiabank offers Canadians five financial strategies to bolster their bottom line in uncertain times

TORONTO, Dec. 29 /CNW/ - With holiday shopping and gift giving behind us and the New Year just ahead, now is the perfect time for people to take stock of their financial situation. While current economic conditions are challenging many Canadians to re-think their budget, Scotiabank has some practical suggestions to help households shore up their financial position.

1. Don't panic or make emotional decisions. One way to avoid the trap of leaping before you look and making financial or investment decisions you'll regret in the long run, is to manage stress by paying attention to your physical and emotional fitness. If you don't have a financial plan, now is the time to get one that emphasizes debt management and
map out your short and long term goals. Focusing on those goals will help you maintain perspective.


2. Position your investment portfolio for recovery - but diversify to manage risk. Remember that when markets are down, there are investment opportunities that can potentially benefit your portfolio in the long term. Be diversified with an appropriate mix of asset classes (equity, bonds and cash equivalents) that fit your risk tolerance, investment time horizon and income requirements. Stay in regular contact with
your financial advisor to ensure your portfolio is appropriately balanced to meet your needs, manage risk, and to offset market fluctuations.


3. Pay down debt. Start by tackling consumer debt such as higher rate department store and other credit cards. Inform yourself about interest rates and options, such as a consolidation loan, that will help you free up cash for other priorities such as investing or paying down your mortgage.

4. Make an RRSP contribution and then use your refund to help manage competing financial priorities. The refund could be used to pay down high cost debt, make an extra mortgage payment, open a new Tax-Free Savings Account (TFSA) or contribute to your child's Registered Education Savings Plan (RESP). Borrowing to make an RRSP contribution makes good fiscal sense if you are confident that you can pay the loan
back relatively quickly.


5. Reduce your discretionary spending so you can redirect more money to debt repayment or savings. Review your household budget to track how much money is coming in, what your fixed expenses are and identify things you're spending money on that you could live without. For example, pack your lunch rather than eating out every day, cut back on magazine subscriptions or visit the library more often rather than buying books all the time. Then consider setting up an automatic savings plan so that the money you're saving comes straight out of your bank account. Before long, chances are you won't even miss it.

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, January 08, 2009

Toronto and GTA Mortgage Interest Rates 2009

the table below shows the current mortgage rates in the GTA. Most lenders have reduced their rates after the recent Bank of Canada prime rate drop


You can see the rates below are slightly lower than the rates that I posted here on my blog a week ago, this is good news for those that are thinking of buying or refinancing their mortgage in the next while.

Enjoy!
Mark

TERM

POSTED

Best Obtainable RATES*

6 Month

5.90%

5.89%

1 Year

5.60%

4.00%

2 Year

6.25%

4.94%

3 Year

6.25%

4.84%

4 Year

6.09%

4.79%

5 Year

6.75%

4.72%

7 Year

7.20%

5.80%

10 Year

7.55%

5.95%

Variable Rate

4.10%

Prime Rate

3.50%

* Rates may vary and are subject to change without notice.
Rates Last Updated: Friday, December 26, 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, January 07, 2009

housing styles in Toronto and the GTA

This will give you some information to help you when you are looking at homes in the GTA

Traditional

if your tastes run towards the elegant, luxurious and
formal, a Traditional style is for you. Colonial, Victorian and
French Provincial décors are examples of this style, of which
symmetric configurations and ornate details are hallmarks.
Traditional furniture is characterized by dark,
rich woods (mahogany, cherry, rosewood, walnut)
and features detailed carvings and exposed legs.
demonstrative of quality workmanship, Traditional
furniture is typically durable and pricey.
Jewel tones dominate the Traditional palette: deep red,
bottle green, sapphire blue. Fabrics are equally rich:
damask, jacquard, chintz, brocade, tapestry, velvet, silk,
satin. Fitting accessories, which should be minimal and
symmetrically balanced, include oil paintings, china
or silver collections, gilt mirrors and oriental rugs.

CaSual

if you feel that Contemporary décors are too
cold and impersonal for your taste, you may
feel more at home with a Casual décor. Casual
spaces are all about warmth and comfort.
To best facilitate that comfort, Casual furniture is
generally overstuffed for softness, and thus of a larger
scale. Slipcovers on sofas and chairs are typical. Woods
common to Casual pieces include oak, maple and pine.
earthy tones – olive, terra cotta, wine – comprise
the Casual color palette, as do neutrals like tan,
gray and beige. Fabrics are appropriately soft,
like cotton and linen. asymmetrically balanced
accessories, which suggest informality, are typically
very personal to the user(s) of the space.
ConTemPorary
Traditional too conservative for you? Consider a
Contemporary look. referring to a variety of styles developed
in the last half of the 20th century, a Contemporary décor
is defined by open, minimally furnished, efficient spaces.
more comfortable and affordable than Traditional
furniture, Contemporary pieces are simple and sleek:
low profiles, clean lines, smooth surfaces, exposed legs.
Shapes are geometric and materials include light woods
like birch and maple, stainless steel, chrome and glass.
Vinyl and leather are characteristic upholstering choices.
Palettes are typically monochromatic, often with bursts of vivid
color found in accessories like boldly patterned rugs. When
looking for accessories to complement your Contemporary
décor, you'll want to lean to less rather than more.

eCleCTiC

not a style unto itself, an eclectic décor is a
blending of distinct styles. Creating an eclectic
d̩cor that works isn't easy Рit takes planning and
an understanding of design principles. But the result
– an utterly unique space – is worth the effort.
The key to pulling off eclectic style lies in finding a
common denominator – color, pattern, shape, texture
– that serves to unite seemingly disparate pieces. The
result is a room where all the pieces feel like they belong,
though they may be from different styles or eras.
The amateur trying their hand at creating an
eclectic look might want to establish a décor that's
predominantly characterized by one style, then
introduce a second style by way of just one key item.