Mississauga Real Estate, Homes, TREB & MLS Blog by Mark Argentino: February 2009

Friday, February 27, 2009

Bottom line in Mississauga residential real estate

The bottom line is that you want an agent who will:

do a great job for you at all times
represent your best interests
create excellent marketing materials for the sale
deal fairly with the other agents which correlates to your benefit and n
negotiate very hard to get you the best price and terms.

I will do an excellent job for you at every step of your sale!

Thank you and have a nice day,
Mark

Mississauga realtor provides valuable home selling information

When you're selling your home I will prepare comparative marketing analysis and advise you on your Home's market value

I will list your house to the multiple listing service in the Toronto area which is the database of property for sale that all the other realtor is on the front real estate board can find and see information about your home

I will negotiate all offers on your behalf

I will ensure that you get the best pricing terms for your home in this difficult market

The reason you want to use me as your agent in Mississauga and Churhcill Meadows or Erin mills is because I understand all the economic trends in the current realestate market

I know the local marketplace and can sell Homes at the highest price in the shortest period of time with the best terms and conditions for you the seller

I've sold two homes in Churchill Meadows in January and early February of 2009 and can certainly service your real estate needs as well

Have a great evening

Good evneing

from Mark Argentino

I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
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 : mailto:mark@mississauga4sale.com?subject=Mississauga
Website : Mississauga4Sale.com

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

Power of Sales and Foreclosures

If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up

See seasonal housing patterns

Would you like me to send you a 2009 Calendar?

Thursday, February 26, 2009

Power of Sales Percentage Increase in past 2 years

I received another great email question and I thought I would share my answer with you.

Hi Mark,

Out of curiosity, what is your best estimate as to the % increase in foreclosures/powers of sale in the Oakville and GTA area over the last ~2 years?

I am 26 yrs old and in the market for a house (I will be getting married this summer). I first started searching for homes in 2007 realizing that prices were massively inflated. I've been waiting for these days of crumbling home values, and like you, I follow TREB statistics and plot them on a monthly basis to get a good indication of where the housing market is going. Hence, I was just wondering (as another 'indicator') what the approx. increase in foreclosures has been. I'll also mention that I am currently working as a mechanical engineer (in training), so as you can understand I do have a "technical" interest in the housing market :)

Any response would be helpful. Thanks.

Regards

Hello MC,

Thank you for your real estate inquiry. Nice to hear you are getting a good education, nothing will replace that in your life !

POS properties have increased in Mississauga from about 40 to 43 at any one time to 50 to 55 at any given time, thus about 20%, on average.

Yes, average prices have fallen, but a great part of the drop is due to the upper valued homes dropping by 100k or more. The lower end of the market is still 'tight' so I don't see those prices falling much further than existing levels. Mortgage rates are at or near all time lows. You will only know that prices have bottomed about 2 to 4 months after they have bottomed, and that will be too late. Prices will have possibly escalated 5% or more by that time.

I can't predict more than 2 to 4 weeks in the future, but nobody knows the direction of our marketplace for sure, nobody. I think we may see a small increase this spring, then another drop in the summer and another rise in the fall. Where the absolute average price is in the fall is anybody's guess. Many are predicting another 5 to 10 drop, so hold on!

Please let me know if you have any other questions or if there is anything else I can help you with.

Thank you again for contacting me and I will do my best to help you with your real estate needs,

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Wednesday, February 25, 2009

Falling market, moving up to larger home, should I sell?

I received another good question about whether to buy a larger home since the price of the home they are selling is falling. The full question and answer are below.

Mark

From: mc
Subject: Re: Selling my townhouse and moving up to a larger home

Hello,
thank you for getting back to me, I was looking to put my townhouse up for sale some time this summer.

I was looking to get 300,000 for my home so that I could have some money to put down on another home since I would like to move to a bigger home.

Thanks
mc

Mark's answer:

Hello MC,

It's possible that your townhome may sell for $300,000 it depends upon how the market is at the time that you list it for sale. As well as condition, extras and upgrades of course. But the market conditions are most important.

As you probably have read and heard, our real estate market is softer than it has been for the past 12 years or so. This means that it may take a little longer to sell your townhouse.

Plus, people are predicting prices may drop more this year, most likely this is the case. Although this will affect your selling price, the larger homes will drop more than townhomes, so in the final analysis, the difference between the sale price of your townhouse and the purchase price of the larger home will be less and you will benefit!

At any rate, keep me posted regarding your plans and please let me know if you have any other questions at this point in the process.

Thank you,
Mark

Tuesday, February 24, 2009

Condo versus Freehold Townhouse- what about maintenance fees?

One common question that I see is regarding the maintenance fees on a condo townhouse. Many buyers ask for freehold townhomes, but condo townhomes can have low maintenance fees and there are other benefits too.

I hope this finds you Happy and Healthy!

All the Best!

Mark

This is the question I received from: GR
Subject: RE: townhomes

Thank you for getting back to me.

My only trepidation with condo townhomes is the arbitrary increase in maintenance fees that can happen. What range would you say the low maintenance fees are in?

thanks,

__________________________

This is my answer to her question:

__________________________

Hi GR,

I understand your hesitation and have had other purchasers feel the same way. What I have found is that maintenance fees must be voted on by the board of directors and then the owners must ratify any increase. Normally, maintenance fees would only go up by 1 to 5% at about the most.

With the newer complexes they are fixed for the first 3 years and then escalate very slowly. The status certificate is a document that shows current and future budgets and will indicate any potential increase in maintenance fees over the next year and sometimes longer. Just depends on the range of the future budget.

Low maintenance fees would be in the range of about $90 to $175. I would think that higher maintenance fees are in the range of $250 and up. There are many complexes in Mississauga and surrounding areas that have low maintenance fees.

Also, the maintenance fee covers grass cutting, snow shoveling, garbage removal, common area lighting etc. Most important it covers your building insurance. Thus, you require less property insurance as you only need to insure your contents. I would say that you would save about $200 from your insurance premium in a condo townhouse versus a freehold townhouse, maybe more.

We will email you some listings with lower maintenance fees so you can see what you are getting into.

Thank you,

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Friday, February 20, 2009

5 year mortgage interest rate just dropped again to 4.34%

The 5 year rate just dropped again to 4.34%...more to come.. We may see prime drop another 1/4% in the next March

See the table below for current rates, bank prime is currently 3.0%

Variable rates are being posted at prime plus .8% so this means 3.80% on variable

Term	6 Month	1 Year	2 Year	3 Year	4 Year	5 Year
Posted Rates*	6.20%	6.75%	7.05%	7.05%	7.05%	7.45%
Best Rates*	5.90%	3.99%	4.75%	4.74%	4.39%	4.34%

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Thursday, February 19, 2009

Fit to Sell New Program by RE/MAX helps Canadian homeowners

This is an interesting new program that RE/MAX has just launched. It will allow home owners to see what areas of the home the owner can prepare to help them attain the highest price in the least amount of time.

I hope this finds you Happy and Healthy!

All the Best!

Mark

New RE/MAX program helps Canadian homeowners
secure the value of their biggest investment

Mississauga, Ontario (February 19, 2009) – As home sellers across the country adjust to new market
realities, RE/MAX is set to launch Fit to Sell, an innovative new program designed to secure home
equity in uncertain times.

“The stark reality is that more than 2,000 properties are listed for sale every day in Canada,”
explains Michael Polzler, Executive Vice President, Regional Director, RE/MAX Ontario-Atlantic
Canada, “yet only a quarter of them will be sold. With the creation of Fit to Sell, RE/MAX is
intent on helping Canadians get the most out of their biggest investment – their home.”

RE/MAX has enlisted the help of popular staging expert Carla Woolnough, host of the DVD series
‘How to Stage your own Home’ and owner of Nex-Step Design, to develop Fit to Sell. The program
encourages existing homeowners to increase their stake in the home-selling process by working with
their real estate professional to bring their home to the market. Fit to Sell ultimately rewards their
participation by maximizing sale price and minimizing on-market time.

“Sellers are no longer in the driver’s seat but there’s also no reason for them to take a back seat,”
explains Polzler. “We know that location, price, and condition are the three major factors that come
into play when selling a home – and while location and price are clearly choices made by the buyer at
the onset, condition is the one factor that a seller can influence. Sellers who make the right moves in
preparing their home for sale can maximize their housing potential and ultimately improve their bottom
line. After all, there are still buyers in the market and they are looking for quality product.”

RE/MAX and Carla Woolnough, the national spokesperson for RE/MAX Fit to Sell, have created a
checklist of the top 10 priorities for preparing a property for sale, ranging from air quality to furniture
placement and lighting. The checklist and tips can also be found on www.fittosell.ca

“By following these simple and inexpensive tips, homeowners across the country can secure top dollar
for their properties,’ says Carla. “All it takes is a little upfront planning and some advice from your
RE/MAX sales professional.”

The official launch of RE/MAX Fit to Sell will coincide with the opening of the National Home Show,
presented by RE/MAX, at the Direct Energy Centre on February 20 through to March 1. RE/MAX will
be presenting tips for consumers, with four scheduled appearances by Carla during the 10-day event.

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Tuesday, February 17, 2009

RBC reports good news for Real Estate

RBC is reporting that they feel although our real estate market is soft and could soften, it will be nowhere near what has/is happening in the US

Interesting reading, to say the least!
Mark

The good and bad news for Canada’s housing market

The good and bad news for Canada’s housing market Canada’s housing market sagged in late 2008.

The number of units sold fell steadily from May 2007’s record pace and that the pace of decline picked up significantly in the fourth quarter of last year.

Prices peaked in December 2007 and were off 13% from that peak a year later.

Activity was slower in all regions; however, British Columbia stands out as the market that has come under the most significant downward pressure and Ontario’s housing market has also slowing
significantly, with sales running at 37% below the July 2007 peak July 2007 and prices off 11.7% from their December 2007 high.

Is Canada headed for a U.S. or U.K. housing market slump? While we expect Canada’s housing market to soften some more, we see limited scope for the correction to mirror the record-breaking housing slump in these other economies.

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Monday, February 16, 2009

current trends in the economy as reported by RBC

These are the current trends in the economy as reported by RBC today. Not the greatest news, but there is hope in the future.

Economy falters badly

GDP dropped 0.7% in November following a 0.1% drop in October. The big decline is consistent with our current forecast of an annualized 2.5% decline in the fourth quarter overall. This is expected to mark the first of two quarters of declines and thus flag that the Canadian economy has fallen into recession.
Employment fell by a record-smashing 129,000 in January and the unemployment rate jumped to 7.2%. The decline was concentrated in full-time jobs (-113,900) and hit Ontario, Quebec and British Columbia the hardest.
With new motor vehicle sales tumbling and gasoline prices coming down rapidly, nominal retail sales fell by 2.4% in November, their biggest one-month decline since January 1998, thus painting a weak picture of the Canadian economy.
Housing starts fell 10.9% in January to an annualized 153,500 from 172,200 in December. Urban singles plunged 20.2%, while the multiples component dropped 12.2%. This weakness is increasingly a reflection of the macroeconomic impact of the credit tightening on employment growth.
The merchandise trade balance posted a deficit of C$0.5 billion in December, the first since March 1976. Exports fell C$3.8 billion (9.7%) — the largest monthly decline since October 1982 — but imports fell by C$2.2 billion (5.7%), which tempered the deterioration in the trade balance.
Consumer prices fell 0.7% in December and the year-over-year rate slipped to 1.2% from 2% in November. Canada's inflation rate averaged 2.3% in 2008 — the fastest increase since 2003. RBC forecasts that Canada's inflation rate will dip into negative territory mid-year and average just 0.5% this year

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Sunday, February 15, 2009

Canada's economy slips badly - Bank of Canada to ease more

More information as deemed from RBC about what the bank of Canada will do in the future, interesting statements!
Mark

Canada’s economy slips badly — Bank of Canada to ease more

The sizeable 0.7% decline in November GDP highlighted that Canada’s economy faltered badly in the fourth quarter consistent
with our call for an annualized 3.1% decline in the quarter. We are now also looking for a hefty 2.8% drop in first-quarter GDP,
almost double the 1.5% decline we had previously expected.
The bleak near-term outlook supported the Bank’s decision to cut the overnight rate by 50 basis points to 1.00% in mid-January
and early 2009 data confirmed that the recession is building momentum.
January’s employment report showing a massive 129,000 job loss and a spike in the unemployment rate to 7.2% put the icing on
the cake for the case for the Bank of Canada to cut the policy rate. The beleaguered manufacturing sector bore the brunt of the
weakness and cut 100,900 positions. We now look for the Bank to ease the policy rate to just 0.5% in March.

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Saturday, February 14, 2009

Mississauga and Toronto Residents are blessed to have the CN Tower

This was a very interesting article about the CN Tower that was forwarded to me from a friend. I thought I would share it with you as millions of people from Mississauga and Toronto drive by the CN Tower and probably don't give it a moments thought anymore.

It's a fabulous achievement in engineering and construction and should always be looked upon as a great achievement for the GTA.

Enjoy!

Mark

THE WORLD'S TALLEST STRUCTURES

The reason for them dates back to what was probably emerging man's first intelligent perception - that the sun gives life. Through the entire span of known and unknown history, man has been driven by a primal urge to reach ever higher for the sky above. We build upward, reaching for the heavens when erecting a place to worship or building monuments to our prophets or, more recently, celebrating our mastery over the environment.

Man's upward reach has been limited by the materials he has available and the techniques he uses to manipulate them. Thus, the oldest surviving tall structures in the world are the pyramids of the Pharaohs of Egypt, who were revered as gods, or at least prophets on speaking terms with the gods. How these edifices were built remains a mystery locked forever in the past, but one thing seems clear: the Pharaohs played a stupendous status game, each one trying to build higher than the other as proof of his greater importance. (Much the same game, in fact, as several Canadian banks have played in downtown Toronto; each one is trying to top the other with a taller skyscraper.) At the time of its completion, each of the buildings and structures illustrated above was the tallest in the world.

THE BUILDING OF A LANDMARK

Building the tallest tower in the world produced unique construction and engineering problems, revolutionary solutions and a seemingly inexhaustible list of "the most..the biggest...the highest...the first..." But perhaps the most significant "first" was the technique devised to actually put up the concrete section of the tower. A 400-ton mould of the structure was built of wood and steel and in a round-the-clock operation, concrete mixed on the site was poured inside the mould as it moved, slowly but continuously, skyward. The tapering shape of the tower was created by reducing the size of the mould as it moved upwards. Tower construction began in the fall of 1972 when a drill rig trundled onto the John Street site and bored 300 feet down into the gray Dundas shale that supports most of Toronto. In February 1973, the earth moving behemoths of the modern construction industry arrived. More than 62,000 tons of earth and rock were removed in digging the main, 50-foot deep hole. Then, 18,000 tons of concrete and 500 tons of reinforcing steel were used to build the 22-foot thick foundation.

SKY POD

The seven-story building 1,100 feet above ground houses the microwave equipment on the lower floor, while the next three floors are open to the public, including an enclosed observation deck, a partially opened one, and the revolving restaurant. The top three floors are devoted to television transmitters, FM transmitters and, on the seventh floor, the monstrous pieces of mechanical equipment needed to power everything.

THE REVOLVING RESTAURANT

The 420-seat revolving restaurant is the world's tallest, with a diameter of 150 feet (the one at Australia square in Sydney, which is in second place, has a diameter of 122 feet) and that part of the floor that rotates has a top speed of eight feet a minute. That's so fast you might get indigestion, so it is slowed to five feet a minute for dinner, which means you can orbit the 450-foot circumference in 90 minutes. The 16-foot-wide moving platform runs on bearings so precisely designed that it is driven by one 2 hp electric motor, with a second as a spare. And if both break down, two strong men can push it.

COMMUNICATIONS

Originally, there were supposed to be a cluster of three separate antennas on top of the concrete tower. Had this plan been adopted, it is possible that the total height of the structure would not have topped that of the 1,761.89-foot-high Ostankino Tower in Moscow. Ultimately, however, communications engineers decided the most efficient design was one which stacked one kind of antenna atop another to make a single antenna 350 feet high. That slender five-sided needle atop the concrete shaft has finally rid the Toronto area of the worst television and FM-radio reception of any North American city. One part of the problem was that the fairly flat countryside is dotted with high-rise apartments and offices, so TV sets usually received two signals: a strong one from the transmitters and a weaker one "bounced" from those high-rise buildings. It was this "bounce" that caused TV screen ghosting.

ELEVATORS

Four elevators zip up the sides of the tower at 1,200 feet per minute, which means you go higher quicker than when taking off in a jet plane. Each elevator has a glass wall. Each elevator could hold 22 people, but the elevators are never quite full, partly because not everyone could see and partly because passengers might feel too confined. The speed was determined by an elaborate formula for "acceleration realization threshold" (the speed at which you know you're moving), so that it's fast enough to be fun and not too fast to be frightening or to cause heart attacks, nausea or fainting fits. However, it gives just about everyone an attack of Otitis-media, or ear popping, because of pressure changes. To alleviate this, swallow at least five times in the 70-second trip.

The tower also has a stairway, used in an emergency. A physically fit person would take 20 minutes to get down the 2,570 stairs in the hexagonal core, and at least 40 minutes to climb up. When the stairway - the world's tallest made of concrete - was finished, one construction worker shucked his clothes and "streaked" the tower from top to bottom. Yet another tower record.

LIGHTNING

Lightning strikes the tower between 150 and 200 times a year, which means it is also the world's tallest free-standing lightning rod. Lightning conductors atop the tower are linked to three copper strips that run down the tower and are grounded to forty-two rods, each 20 feet long and buried 20 feet below ground.The stairs, elevator rails, window frames, sewage, water pipes and anything else that could attract lightning are linked to the copper strips. ICING Anywhere ice is likely to form - at any change in the tower contour line, or places like the roof edges of the Sky Pod - has been ice-proofed, either with heated de-icing cables or sheathed in shiny plastic to which ice cannot cling. The fiberglass surface and the shape of the transmission mast means that ice will never build up to a dangerous thickness and fall to the ground in chunks but will, instead, slide off and break itself into powder-like snow almost as soon as it's formed.

FIREPROOFING

Don't expect to get a steak flambéed at table side at the revolving restaurant. The fire department has forbidden open flame cooking up in the tower. In fact, the planners and the fire marshal have gone to extraordinary lengths to make the tower fireproof. Each steel floor has a coating of a fire-resistant mineral fibre, and all furnishings are as fireproof as any furniture can be. The main kitchens, where open-flame cooking is permitted, are in the basement. Also located there are the emergency fire pumps than can each squirt water to the top of the tower at the rate of 500 gallons a minute. A sprinkler system is located everywhere. Since electrical transformers have been known to explode into flames, the seven installed in the tower are immersed in a non-flammable fluid instead of the customary oil.

STABILITY

Unlike a jumbo jet that moves mostly through the upper "smooth" layers of air and is grounded in bad weather, the CN Tower must survive turbulent, treacherous winds and was built to withstand twice as strong a wind as Toronto will ever see. Weather records show 114 mph as the top wind speed in the last century. The tower was built to withstand a wind of 160 mph. At 110 mph, a wind exerts 60 pounds of pressure where it hits windows in the accommodation pod. At the sides, it exerts a 60-pound negative pressure. So experts designed windows that can withstand 120 pounds of either kind of stress. The outside pane is three-eighths of an inch thick tempered glass, the inside pane is half an inch thick. The main concrete tower - 53,000 cubic yards of concrete "tied" together with 80 miles of steel cable - would only wobble 10 inches from side to side, and the movement would be so slow you wouldn't even notice a change in the level of the champagne in your glass (that is, presuming you'd been stupid enough to go out to dinner in such weather in the first place).

TOWER ATTRACTIONS

CN Tower Limited decided it was vital that the $52 million tower be an ultimate tourist attraction in order to ensure it was self-supporting financially, as well as structurally. The tower has become a North American landmark and a tourist attraction unrivaled in Ontario, perhaps even Canada, other than Niagara Falls. At the base of the tower, past the gardens and the fountains and pools, is a unique shop specializing in CN Tower souvenirs and Canadiana which, at one time, included the souvenir medals and medals used for keychains and necklaces struck by Interbranch International Mint. The elevator ride is in itself super-spectacular. Short of piloting a jet fighter, there's nowhere else in the world you can climb so high so fast, and the main observation decks in the Sky Pod are so high you have the uncanny feeling you're looking down on the world from a plane. On those decks are six telescopes with 20.1 zoom lenses, which means that by operating the controls you can magnify what you see with the naked eye from 10 to 200 times. But for many, the greatest attraction is the view from The Space Deck observation platform. There's nothing further up but the antenna and the sky. The observation deck has floor-to-ceiling windows that lean outwards so that you feel as though you are perched on the edge of..well, nothing.

IF ANYONE ASKS

The tower weighs 130,000 tons, which is twice as heavy as the world's biggest luxury liner and about the same weight as 23,214 large elephants.

Fifty-three thousand cubic yards of concrete were poured to build the tower - and that's enough to build a concrete curb along the 401 from Toronto to Kingston, 150 miles away.

The tower has the longest concrete staircase in the world. It has 2,570 steps.

Even the lower observation platforms are so high that you can see south to Rochester, New York and the far shore of Lake Simcoe to the north.

You can also see the eternal cloud of spray that looms over Niagara Falls.

The elevators up to the Sky Pod are capable of carrying 30,000 people a day, or 10,950,000 a year, counting Sundays and Christmas Day. At that rate, however, the place gets a bit crowded.

Between the Sky Pod and the uppermost observation platform there is a special shuttle elevator.

It takes you up to the 1,450 foot level, which makes it the highest elevator ride in the world.

There is a fee charged to take the elevator to the observation decks, except when you are going up to the revolving restaurant for dinner and you have made an advance reservation.

The CN Tower's souvenir shop ran out of the souvenir medals ordered from Interbranch International Mint at least 20 years ago.

Friday, February 13, 2009

Many people are talking about mortgage refinancing

Hello and I hope you are enjoying your day

Mortgage refinancing is a hot topic at the water cooler these days. Most mortgage holders in a fixed rate mortgage have been comparing their contract rate to the current interest rates.

In many cases, borrowers would benefit by renegotiating their current mortgage. The interest saving with the lower rate is often significantly greater than the penalty charged for an early payout.

I know brokers who would be happy to 'do the math' and determine whether it makes sense to renegotiate a mortgage. Lender rules regarding penalties vary; the only way to know the payout penalty is by directly contacting the lender for this figure.

Some lenders may offer relief regarding the penalty if the mortgage remains with them, others won't. Also, beware of the 'Blend & Extend' rates, they usually have the penalty fee worked into the new rate calculation.

Yesterday's Globe and Mail had an interesting article regarding mortgage renegotiations. This is a link to Rob Carrick's article, The Art of Mortgage Renegotiation.

see here

Happy Friday the 13th! Enjoy your looooonnnnnggggg weekend !

I hope this finds you Happy and Healthy!

All the Best!

Mark

Thinking of selling your home in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
Power of Sales and Foreclosures
If you have not already signed up to receive my monthly real estate newsletter, you may do so here: On-Line Real Estate Newsletter sign up
See seasonal housing patterns
Would you like me to send you a 2009 Calendar?

Current Mortgage Interest Rates

See the table below to view the most current mortgage interest rates in the GTA and Mississauga

Rates are holding steady for about the past two weeks, next Bank of Canada Rate announcement is early March, stay tuned!

All the best,
Mark

TERM	POSTED	"BEST" RATES*
6 Month	5.2%	5%
1 Year	5%	3.89%
2 Year	5.75%	4.34%
3 Year	5.75%	3.75%
4 Year	5.69%	4.19%
5 Year	5.79%	4.22%
7 Year	7%	5.9%
10 Year	7.35%	6.05%
Variable Rate		3.75%
Prime Rate		3%

* Rates may vary and are subject to change without notice.
Rates Last Updated: Thursday, February 12, 2009

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

Friday, February 27, 2009

Bottom line in Mississauga residential real estate

Mississauga realtor provides valuable home selling information

Thursday, February 26, 2009

Power of Sales Percentage Increase in past 2 years

Wednesday, February 25, 2009

Falling market, moving up to larger home, should I sell?

Tuesday, February 24, 2009

Condo versus Freehold Townhouse- what about maintenance fees?

Friday, February 20, 2009

5 year mortgage interest rate just dropped again to 4.34%

Thursday, February 19, 2009

Fit to Sell New Program by RE/MAX helps Canadian homeowners

Tuesday, February 17, 2009

RBC reports good news for Real Estate

Monday, February 16, 2009

current trends in the economy as reported by RBC

Sunday, February 15, 2009

Canada's economy slips badly - Bank of Canada to ease more

Saturday, February 14, 2009

Mississauga and Toronto Residents are blessed to have the CN Tower

Friday, February 13, 2009

Many people are talking about mortgage refinancing

Current Mortgage Interest Rates

Sponsored Sites

Blog Topics

Blog Archive

Resources

About Me

Canadian | RE | Alliance

Resource Section

"How to" on Mississauga4Sale.com

Blog Feeds

Pages

Who's Among Us

Followers