Wednesday, March 31, 2010

CREA and the Competition Bureau

This is the letter that our VP and regional director sent to us on March 25, 2010. It's in response to the CREA and competition bureau controversy.

RE/MAX, CREA and most realtors do not have a problem that people can put their homes on the mls for a flat fee. CREA still wants us realtors to give client service to these sellers and if so, then we must provide many services that we currently do. If this is the case, then a small flat fee may not suffice for the amount of responsibility and work that we must continue to put forth, even for a flat fee listing.

The competition bureau still believes that since CREA is mandating that we realtors continue to provide services to the client, they are still 'restricting' the openness of the mls.

In my opinion the competition bureau is a government organization that by definition must argue any restrictions, thus the reason for the problem.

If you want a realtor to list properties and give agency, then there are restrictions. If you don't want to use an agent but still want to list on the mls, why, it's CREA's system and they can make the rules.

Ultimately, as Michael states below, the public in Canada will have one more option to list their home on the mls with a flat fee. Not many will utilize this option. Not many agents will offer this option at a low price.

Everything will even out and reach an equilibrium based upon our free economy.

Sellers will have another option when selling.

Life will go on.

All the best!
Mark

This was the letter we received on March 25th, 2010:


_____

From: Michael Polzler
Sent: Thursday, March 25, 2010 5:21 PM
To: mark@mississauga4sale.com
Subject: CREA and the Competition Bureau


RE/MAX Ontario Atlantic Canada Inc. - Voice Of Real Estate
<http://www.remaxoa.com/10/Regional/REMAXVoiceOfRealEstate.jpg>

Dear RE/MAX Broker-Owners Managers and Sales Representatives:

CREA and the Competition Bureau

Confusion reigned across the country this week as the Canadian Real Estate
Association (CREA) announced anticipated amendments to the Multiple Listing
Service (MLS) in response to issues raised by the Competition Bureau.

My subsequent comments in the Globe and Mail didn't help. They were,
unfortunately, taken out of context and may have added fuel to the fire. Let
me assure you that I did not say that we should throw in the towel. However
I've also been in the business too long not to recognize the fact that our
industry is changing.

CREA was a little less than crystal clear in their communications, but in a
nutshell, under the new rules, clients can now choose a realtor for the sole
purpose of listing their property on MLS for a flat fee, but few will.

There is no doubt in my mind that the playing field is going to change in
the coming years. I do believe, however, that the impact on our industry
will be minimal and I speak from experience based on our US operations.
These rules have been in place south of the border for several years and
little has changed. In fact, the value of a great realtor has never been
more important.

Consumers are entitled to options and yes, there will be those that choose
to go it alone. But most people don't want to sell their own cars, let alone
their own homes. The fundamentals of this business are etched in stone and
will remain the same, no matter what happens between CREA and the
Competition Bureau. Those buyers and sellers who are making the largest
financial investment of a lifetime will still require the knowledge,
expertise and negotiation skills that a full-time, experienced real estate
professional brings to the table - and most, if not all, are willing to pay
for it.

There is more to what we do as realtors than place properties for sale on
the MLS. We should not define ourselves by MLS alone. MLS is just one of the
many tools that we use during the course of a transaction. The vast majority
of homes in this country are currently sold through a full-service realtor
and that trend will continue in the future. Let's not lose focus. We're
helping thousands of Canadians to buy and sell real estate annually. Our
role has not and will not be diminished.

I have no doubt that we will continue to thrive, as we always have. But more
important than ever before will be the value proposition you, as a realtor,
brings to a transaction. Knowledge, experience and professionalism are the
foundation on which our industry has been built. At the end of the day, it's
what the public expects of a professional realtor.

Don't underestimate your importance in the home-buying and selling
experience. The fact is, consumers need us. I welcome your thoughts at
mpolzler@remax-oa.com

Sincerely,
Michael Polzler Signature
<http://www.remaxoa.com/10/Regional/MikeSignature.jpg>
Michael Polzler
Executive Vice President and Regional Director
RE/MAX Ontario-Atlantic Canada Inc.

Tuesday, March 30, 2010

Fixed mortgage interest rates going up significantly today

Hello,

As you might notice today, TD and Rbc have raised their fixed rates as much as 0.6%.

If you prefer fixed rates, pre-approval is still available for 5 year fixed at 3.69%.

You must contact your bank ASAP to lock in the old rate.

Thank you,
Mark

Should you sell now while the market is high or wait for your price to increase more?

Should you sell now while the market is high or wait for your price to increase more?

To get an idea on the prices in Oakville and Mississauga or anywhere in the GTA, but you can always search anywhere in Canada using http://www.mls.ca/ and it's got a pretty cool map function to use so you can see where you are searching and the number of listings.

I've been suggesting to my clients who have been thinking of selling this year to "get your home on the market pronto"

I feel we are near the end of the current real estate cycle and possibly near the edge. I say this because I have noticed the there are clearly more listings on the market now compared to even a month ago.
Although we are currently at the 'historically speaking' height of the yearly cycle, this indicates to me that the market is softening a little.

I know from past experience it does not take much to slow our market and when it does, it can be sudden.

See annual cycles here:
<http://www.mississauga4sale.com/TREBavg1995date.htm and the large graph
here: <http://www.mississauga4sale.com/avgprice1995todate.jpg

I read an article yesterday that the Bank of Canada may consider raising the bank prime before the initially scheduled, if this happens it could create that 'sudden' feeling in the market and things could slow down.

As you know, perception not only becomes reality, but perception IS reality and if people "think" the HST and increased mortgage rates will slow our market - then when those two things happen, our market will likely slow.

Of course, the market may just continue to cycle each year as it has for the past 15 years, up in the spring, down in the summer, up in the fall, down in the winter BUT each year the market will creep up overall about 5%

So, on average, if you wait another year, the average price of a home in the GTA will likely rise about $25,000 increase year over year, all things being equal, but if the market softens your $500,000 house can easily drop to $425,000 and stay there for a while. We have seen this in hte past:
http://www.mississauga4sale.com/TREBprice.htm#last_recession

The decision is yours, enjoy!

Mark

Monday, March 29, 2010

Mortgage Interest Rates on the rise!

The longer term mortgage intrerest rates are on the rise here in Toronto and the GTA
Royal Bank and TD Canada Trust announced Monday they are increasing several fixed mortgage rates by up to 6/10ths of a percentage point.

The biggest jump is attached to the popular five-year fixed closed rate, which moves from 5.25 per cent to 5.85 per cent at both banks. That's the posted rate, which is routinely discounted by the big banks.

RBC's new discounted rate for the five-year term also rises 6/10ths of a percentage point to 4.59 per cent. TD's rises the same amount to 4.55 per cent.

Expect the other banks to follow.

Now is the time to lock in your rate if you want to go long term or if you are about to purchase, get that rate locked now!
Mark




Read more: http://www.cbc.ca/money/story/2010/03/29/mortgage-rates-up.html#ixzz0jaLDgz7Y

Toronto 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

RBC reporting that the Canadian Housing and US real estate Fundamentals Improve

This is the latest report from RBC on the housing market

Housing Fundamentals Improve

The pace of home sales picked up in the fourth quarter and, combined with
the low level of new housing starts, reduced the glut of homes for sale on
U.S. markets.

The result was that the measures of months' supply of homes available for
sale are down from recent peaks and are within striking distance of their
long-term averages.

Builder sentiment improved mildly in February, and we expect that sales
activity will increase in 2010 as labour market conditions improve.

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

Sunday, March 28, 2010

Housing Market Rally Raises Alarm Bells - Bank of Canada expected to boost its policy rate by 100 basis points to 1.25% by year end

RBC reports that the overheated market is signaling alarm bells and the Bank
of Canada will increase rates by about 1 to 1.25% by year end to slow the
growth of a real estate bubble.

Housing Market Rally Raises Alarm Bells

The sharp recovery in Canada's housing market that began in January 2009 is
raising concerns that a bubble is forming. With sales running more than 60%
faster than a year earlier in the latter part of 2009 and early 2010,
worries about a bubble cannot be dismissed.

Our take is that significant demand was built up during the early days of
the recession because uncertainty saw buyers step back, and the volume of
sales plunged 36% on a year-over-year basis. With the recession in full
swing, the Bank of Canada lowered its policy rate to just 25 basis points
and housing market activity ramped back up.

In early 2010, another catalyst for sales activity was the rush to purchase
new homes prior to the Harmonized Sales Tax (HST), which will increase taxes
for Ontario and British Columbia, and becomes effective on July 1, 2010.
These two provinces accounted for about 60% of home sales activity in 2009.

The supply and demand fundamentals supported the strong housing market
performance. On the supply side of the equation, uncertainty saw sellers
hanging back with the supply of new listings falling well short of demand
during the recession.

Housing starts weakened also dampening available housing stock. In the near
term, housing market conditions are likely to remain strong reflecting
support by a brightening labour market and low mortgages rates. RBC's
affordability measure showed that, despite the run-up in prices late last
year, conditions remain better than in early 2008.

The market, however, is likely to start to slow mid-year as the HST boosts
costs and the Bank of Canada begins the process of normalizing interest
rates.

We expect the Bank to boost its policy rate by 100 basis points to 1.25% by
year end, which will translate into higher rates across the spectrum of
interest-rate related products

More on Mortgage Interest Rates

There are some very good interest rates currently on the market if you are renewing, now may be the time to do it!
All the best,
Mark



Best Rates seen in the market place


TermsPosted RatesBest Rates
6 MONTHS4.60%3.85%
1 YEAR3.65%2.49%
2 YEARS3.95%2.95%
3 YEARS4.30%3.40%
4 YEARS5.04%3.69%
5 YEARS5.39%3.79%
7 YEARS6.30%4.95%
10 YEARS6.50%5.20%
Rates are subject to change without notice. *OAC E&OE

Prime Rate is 2.25%.*

*Prime rate may vary according to lender. Be sure to check with your mortgage professional for full variable-rate mortgage pricing details.

Rates are subject to change without notice. Fixed mortgage rates shown in table above and quoted variable mortgage rates are available nationally to qualified individuals. Lower rates may be available in certain regions, or to those with higher credit scores or higher net worth – check with your mortgage professional for full details.

Mortgage Market


Mortgage Market Changes

Effective in April – make sure you’re in the know

Home buyers and real estate investors need to keep up with some upcoming changes to mortgage rules that could affect their purchase, if they are applying for a mortgage with a down payment of less than 20% of the value of the property.

Qualifying for a Mortgage
Borrowers applying for a variable-rate mortgage or a fixed-rate mortgage with a term of less than 5 years must qualify based on the Bank of Canada’s five-year fixed posted mortgage rate.

Rental Properties
A minimum down payment of 20% will be needed for government-backed mortgage insurance on non-owner-occupied properties such as rental properties. There are also changes in how much of rental income can be used when qualifying for financing.

Self Employed?
Make sure you contact your mortgage professional about how to show proof of income to lenders, and access mortgage products tailored for your needs.

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, March 27, 2010

Number of sales to active listings ratio for the west districts in the GTA

This graph shows the number of sales to active listings ratio for the west
districts in the GTA
It clearly shows that about 50 to 55% of all active listings on the market
are selling, this is very high compared to the previous spring market.
It shows our market is very hot right now

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

<http://www.mississauga4sale.com/selling-process.htm> Thinking of Selling?
| Best Mortgage Rates
<http://www.mississauga4sale.com/mortgage-rates-mark.htm> | Current Home
<http://www.mississauga4sale.com/TREBprice.htm> Prices | Search MLS
<http://www.mississauga4sale.com/mls-ca-real-estate-mississauga.htm> |
Newsletter
<http://www.mississauga4sale.com/newsletter/latest_newsletter.htm>
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
* BUS 905-828-3434
* FAX 905-828-2829 *CELL 416-520-1577
* E-MAIL <mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request> : mark@mississauga4sale.com
<mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request>
Website <http://www.mississauga4sale.com/index.htm> :
<http://www.mississauga4sale.com/index.htm> Mississauga4Sale.com

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary
<http://www.mississauga4sale.com/internet-evaluation.htm> & Quick
Over-The-Net Home Evaluation ?
* Power of Sales and Foreclosures
<http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm>
* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line
<http://www.mississauga4sale.com/popupquestion.htm> Real Estate Newsletter
sign up
* See seasonal housing patterns
<http://www.mississauga4sale.com/TREBavg1995date.htm>
* Would you like me to send you a 2010 Calendar
<http://www.mississauga4sale.com/Calendar-Order-Form.htm> ?

Friday, March 26, 2010

Some think the Bank of Canada Prime rate will go up soon

There are rumours in the marketplace that the Bank of Canada may increase their prime rate sooner than expected. If this is the case, then you may wish to lock in your mortgage rate now if you are eventually considering this option.

If you are purchasing in the next few months, then definitely you want to lock in your rate today, that way you are safe.

Thank you,
Mark

This is what I just heard Due to inflation pressure, Bank of Canada might raise the prime rate sooner than originally expected. I have seen bond yield rates have gone up sharply.

That means fixed rates might go up very soon. So please do your clients a favor to lock fixed rates for 120 days.

Great rate offered for pre-approval: 3.69% for 5 year fixed. Once the application is sent in, the rate will be guaranteed for 120 days.

For clients who want to take advantage of lower variable rates, P-0.5% (1.75%) is still available.


Best regards,

Warren Z.

Average number of sales in GTA up significantly year over year

This graph shows the average number of sales over the past year. It clearly
indicates that the number of sale for February 2010 was about 1.5 times
higher than February of 2009
This indicates the market is much more active this time of year.

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

Thursday, March 25, 2010

Where can you get this return? Average and medium sale prices for last 10 years in GTA real estate

The graph below shows the average and median sales prices for the past 10
years. This graph clearly indicates that real estate is a great investment
over the long term.

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

<http://www.mississauga4sale.com/selling-process.htm> Thinking of Selling?
| Best Mortgage Rates
<http://www.mississauga4sale.com/mortgage-rates-mark.htm> | Current Home
<http://www.mississauga4sale.com/TREBprice.htm> Prices | Search MLS
<http://www.mississauga4sale.com/mls-ca-real-estate-mississauga.htm> |
Newsletter
<http://www.mississauga4sale.com/newsletter/latest_newsletter.htm>
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
* BUS 905-828-3434
* FAX 905-828-2829 *CELL 416-520-1577
* E-MAIL <mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request> : mark@mississauga4sale.com
<mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request>
Website <http://www.mississauga4sale.com/index.htm> :
<http://www.mississauga4sale.com/index.htm> Mississauga4Sale.com

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary
<http://www.mississauga4sale.com/internet-evaluation.htm> & Quick
Over-The-Net Home Evaluation ?
* Power of Sales and Foreclosures
<http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm>
* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line
<http://www.mississauga4sale.com/popupquestion.htm> Real Estate Newsletter
sign up
* See seasonal housing patterns
<http://www.mississauga4sale.com/TREBavg1995date.htm>
* Would you like me to send you a 2010 Calendar
<http://www.mississauga4sale.com/Calendar-Order-Form.htm> ?

Wednesday, March 24, 2010

index

Toronto 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

Down is the number of days on the market for Mississauga, Oakville, Etobicoke and west zones of the GTA

This graph shows the number of days on the market for Mississauga, Oakville,
Etobicoke and west zones of the GTA

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

<http://www.mississauga4sale.com/selling-process.htm> Thinking of Selling?
| Best Mortgage Rates
<http://www.mississauga4sale.com/mortgage-rates-mark.htm> | Current Home
<http://www.mississauga4sale.com/TREBprice.htm> Prices | Search MLS
<http://www.mississauga4sale.com/mls-ca-real-estate-mississauga.htm> |
Newsletter
<http://www.mississauga4sale.com/newsletter/latest_newsletter.htm>
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
* BUS 905-828-3434
* FAX 905-828-2829 *CELL 416-520-1577
* E-MAIL <mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request> : mark@mississauga4sale.com
<mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request>
Website <http://www.mississauga4sale.com/index.htm> :
<http://www.mississauga4sale.com/index.htm> Mississauga4Sale.com

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary
<http://www.mississauga4sale.com/internet-evaluation.htm> & Quick
Over-The-Net Home Evaluation ?
* Power of Sales and Foreclosures
<http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm>
* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line
<http://www.mississauga4sale.com/popupquestion.htm> Real Estate Newsletter
sign up
* See seasonal housing patterns
<http://www.mississauga4sale.com/TREBavg1995date.htm>
* Would you like me to send you a 2010 Calendar
<http://www.mississauga4sale.com/Calendar-Order-Form.htm> ?

Tuesday, March 23, 2010

CREA announces new rules to appease the Competition Bureau March 22 2010


In a nutshell, these are the changes announced by CREA regarding the MLS system and how they came about:

* the competition bureau thinks that CREA is restricting trade in real estate in Canada by not allowing private sellers or flat fee real estate brokers to upload listings on their mls (multiple listing service) system


* to answer and address this issue, CREA announced March 22, 2010 that flat fee real estate companies may list their properties on the mls.

CREA feels that this essentially allows sellers to list their homes for a small fee through a registered real estate broker on the mls and have the seller's name appear on the listing so other brokers and buyers may contact the owner directly for showings and negotiating the offer


* CREA thinks that the changes make it possible for homeowners to pay a one-time fee to list a property on the MLS -- which would ensure maximum exposure -- and have prospective buyers contact them directly by phone.


* The Competition bureau does not think this announcement opens the mls system, and they believe it actually goes in the wrong direction

Who is right?

I feel that the announcement will allow more open access to the mls system.

I don't think it will change the mls system and the way we do business overnight, but this is just another option that sellers have when it comes to selling their home. The vast majority will continue to sell their homes through agents through the mls.


There will always be sellers who want to sell privately and allowing a flat fee access to the mls facilitates these private sellers access to the mls system.


Most feel that there will continue to be the need for the middlemen between home buyers and home sellers: you will still need a place to advertise your property, a place to compile market information, and you may even want some well-compensated expert guidance.


This will continue to be a very high profile issue with no simple or easy final answer on the horizon.


Other thoughts and issues are as follows:

* the competition bureau does not think this is satisfactory because it still allows for limitations and not a completely 100% open mls system

CREA owns the Multiple Listing Service, which includes the public websites MLS.ca and Realtor.ca.

The menu of services offered by real estate brokers may even grow, but some prices will fall and customers will be able to choose what level of service they want.

CREA is an industry group that represents more than 98,000 real estate agents across the country.

* extreme discount brokers that offer low or nearly non existent services to clients to list properties on the mls

There are many issues regarding opening up the mls system to flat fee brokers and sellers who want little or no representation in a real estate transaction


* The Canadian Real Estate Association approved changes Monday that will give those who buy or sell their homes on its listing service more power to handle portions of the transaction on their own, but it was not enough to satisfy the Competition Commissioner.


* In a move to cut off a challenge by the Competition Bureau, which feels the current system is too restrictive because anyone listing on the Multiple Listing Service must employ an agent through the entire process, the association's members voted at its annual general meeting in Ottawa to loosen its own rules.


* Now, a consumer will be able to pay an agent a flat fee - zero is not an option - to list on the MLS, where about 90 per cent of all home sales are done. Agents must now pass along a seller's home phone number, if the seller chooses, directly to an interested buyer if asked.


* "Through the proactive clarifications of the existing rules, CREA believes the concerns raised by the Competition Bureau are fully addressed," the organization said in a news release. "At the same time, these amendments ensure the continued integrity of MLS systems and the accuracy of information on board MLS systems that Canadians have come to trust."


* The bureau disagreed, saying the change didn't go far enough because CREA could still change the rules at any point and place more restrictions on anyone who tried to offer innovative services.


* CREA wouldn't provide further comment, with its legal counsel stating it would rather wait for the case to go before the Competition Tribunal. The association's president, Dale Ripplinger, said the changes "wouldn't make sense to anyone who wasn't a real estate agent," before abruptly calling off a news conference.


* The vote was seen as a way for Canada's real estate sales industry to satisfy concerns raised by the Competition Bureau, which has filed charges with the Competition Tribunal alleging the real estate association makes it impossible for any of its members to offer consumers fee-based services for particular portions of a transaction, such as listing on the MLS or negotiating a sale price.


* This leads to higher prices for consumers, the Bureau says.


* The proposed changes were a key pillar in the real estate organization's defence before the Tribunal. The association must submit its response to the charges by March 25 and the organization hoped a strong vote from its members on the key issues troubling the Competition Bureau would be enough to have the charges set aside.


* The MLS has operated for more than 50 years and only registered agents are allowed to list homes on the service. The MLS trademark is owned by CREA, and each real estate board operates the service in its region.


While anyone can sell their home on their own, having a listing on the service is seen as an integral part of achieving the best sales price.


* A CREA spokesperson said the changes would be implemented "as soon as it is reasonable at each local board."



The Internet has changed the way prospective homebuyers shop for properties and has raised questions about whether real estate services in Canada are overvalued.

A 2007 court decision in the U.S. opened up similar data to Americans, leading to lower real estate fees as well as a wide range of innovative web-based real estate services.

Opening up the MLS would put downward pressure on real estate fees, the Bureau has said

It will be a very interesting few months ahead as these issues are addressed and solutions are reached.

If you have questions, please don't hesitate to contact me.

All the best!

Mark

Single family residential number of sales in Toronto and GTA

This graph shows that the number of sales over the past 12 months varies
considerably. February of 2010 was almost double of the previous year.
Market is fast and sale sales are up!

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

<http://www.mississauga4sale.com/selling-process.htm> Thinking of Selling?
| Best Mortgage Rates
<http://www.mississauga4sale.com/mortgage-rates-mark.htm> | Current Home
<http://www.mississauga4sale.com/TREBprice.htm> Prices | Search MLS
<http://www.mississauga4sale.com/mls-ca-real-estate-mississauga.htm> |
Newsletter
<http://www.mississauga4sale.com/newsletter/latest_newsletter.htm>
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
* BUS 905-828-3434
* FAX 905-828-2829 *CELL 416-520-1577
* E-MAIL <mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request> : mark@mississauga4sale.com
<mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request>
Website <http://www.mississauga4sale.com/index.htm> :
<http://www.mississauga4sale.com/index.htm> Mississauga4Sale.com

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary
<http://www.mississauga4sale.com/internet-evaluation.htm> & Quick
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* Power of Sales and Foreclosures
<http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm>
* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line
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* See seasonal housing patterns
<http://www.mississauga4sale.com/TREBavg1995date.htm>
* Would you like me to send you a 2010 Calendar
<http://www.mississauga4sale.com/Calendar-Order-Form.htm> ?

Monday, March 22, 2010

Type of property sales in the single family residential area of the GTA

This is a handy chart that shows the percentage of each type of property
sales in the single family residential area of the GTA

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

<http://www.mississauga4sale.com/selling-process.htm> Thinking of Selling?
| Best Mortgage Rates
<http://www.mississauga4sale.com/mortgage-rates-mark.htm> | Current Home
<http://www.mississauga4sale.com/TREBprice.htm> Prices | Search MLS
<http://www.mississauga4sale.com/mls-ca-real-estate-mississauga.htm> |
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RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
* BUS 905-828-3434
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<mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request>
Website <http://www.mississauga4sale.com/index.htm> :
<http://www.mississauga4sale.com/index.htm> Mississauga4Sale.com

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary
<http://www.mississauga4sale.com/internet-evaluation.htm> & Quick
Over-The-Net Home Evaluation ?
* Power of Sales and Foreclosures
<http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm>
* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line
<http://www.mississauga4sale.com/popupquestion.htm> Real Estate Newsletter
sign up
* See seasonal housing patterns
<http://www.mississauga4sale.com/TREBavg1995date.htm>
* Would you like me to send you a 2010 Calendar
<http://www.mississauga4sale.com/Calendar-Order-Form.htm> ?

Sunday, March 21, 2010

Real Estate Market stats in Toronto and GTA show activity is very hot right now!

This chart shows that the number of sales and new listings is up
considerably for February 2010 compared to February 2009
As well the number of active listings is down 32% and the days on the market
is half of what it was a year ago.
This all indicates that we are experiencing a very fast, hot market in
February 2010 compared to February of 2009

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

<http://www.mississauga4sale.com/selling-process.htm> Thinking of Selling?
| Best Mortgage Rates
<http://www.mississauga4sale.com/mortgage-rates-mark.htm> | Current Home
<http://www.mississauga4sale.com/TREBprice.htm> Prices | Search MLS
<http://www.mississauga4sale.com/mls-ca-real-estate-mississauga.htm> |
Newsletter
<http://www.mississauga4sale.com/newsletter/latest_newsletter.htm>
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
* BUS 905-828-3434
* FAX 905-828-2829 *CELL 416-520-1577
* E-MAIL <mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request> : mark@mississauga4sale.com
<mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request>
Website <http://www.mississauga4sale.com/index.htm> :
<http://www.mississauga4sale.com/index.htm> Mississauga4Sale.com

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary
<http://www.mississauga4sale.com/internet-evaluation.htm> & Quick
Over-The-Net Home Evaluation ?
* Power of Sales and Foreclosures
<http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm>
* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line
<http://www.mississauga4sale.com/popupquestion.htm> Real Estate Newsletter
sign up
* See seasonal housing patterns
<http://www.mississauga4sale.com/TREBavg1995date.htm>
* Would you like me to send you a 2010 Calendar
<http://www.mississauga4sale.com/Calendar-Order-Form.htm> ?

Friday, March 19, 2010

Mortgage Interest Rate update for Mississauga, Toronto and the GTA

The chart below shows you the current posted and attainable mortgage
interest rates in the Mississauga, Toronto and the GTA areas


TERM POSTED Attainable
RATES*
6 Month 4.60% 3.50%
1 Year 3.65% 2.35%
2 Year 3.95% 2.80%
3 Year 4.30% 3.25%
4 Year 5.04% 3.64%
5 Year 5.39% 3.64%
7 Year 6.30% 4.95%
10 Year 6.50% 5.20%
Variable Rate 1.75%
Prime Rate 2.25%





* Rates may vary and are subject to change without notice OAC.
Rates Last Updated: Thursday, March 18, 2010

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

<http://www.mississauga4sale.com/selling-process.htm> Thinking of Selling?
Best Mortgage Rates
<http://www.mississauga4sale.com/mortgage-rates-mark.htm> Current Home
<http://www.mississauga4sale.com/TREBprice.htm> Prices Search MLS
<http://www.mississauga4sale.com/mls-ca-real-estate-mississauga.htm>
Newsletter
<http://www.mississauga4sale.com/newsletter/latest_newsletter.htm>
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
* BUS 905-828-3434
* FAX 905-828-2829 *CELL 416-520-1577
* E-MAIL <mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request> : mark@mississauga4sale.com
<mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request>
Website <http://www.mississauga4sale.com/index.htm> :
<http://www.mississauga4sale.com/index.htm> Mississauga4Sale.com

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary
<http://www.mississauga4sale.com/internet-evaluation.htm> & Quick
Over-The-Net Home Evaluation ?
* Power of Sales and Foreclosures
<http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm>
* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line
<http://www.mississauga4sale.com/popupquestion.htm> Real Estate Newsletter
sign up
* See seasonal housing patterns
<http://www.mississauga4sale.com/TREBavg1995date.htm>
* Would you like me to send you a 2010 Calendar
<http://www.mississauga4sale.com/Calendar-Order-Form.htm> ?

Best Mortgage Rates in the Mississauga and Toronto areas


See the latest rates at this link

Best Mortgage Rates


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=MississaugaWebsite : Mississauga4Sale.com

Thursday, March 18, 2010

Is this a WISE decision? Choosing NOT to buy real estate!

I had a subscriber comment on our marketplace and decided not to purchase.

He said:

Despite the media hype, I am making a wise decision to not purchase a house at this time, the peak of the market.

Hi,

I saw your reason for unsubscribing below and thought I would comment. I
tend to agree with you in my mind and logical thinking would say it's a bad
time to buy. Certainly if you listen to Garth Turner, he thinks the end is
near.

Real estate prices are at an all time high and seem to have no end in sight.
My wife and I are looking to move and it's a more expensive house we want to
move to, so we too are afraid that the bottom may fall out. But, I've been
saying that since 2003 when the market began to take off like a rocket and
has not stopped (except for September 08 to January of 09) since that time.
I've been saying for 7 years that we must be at the peak and prices can't go
any higher, and they keep going higher.

Nobody knows what will really happen in the future, but many think the HST
and increased interest rates will only slow our market advance, not halt or
cause retreat. Only time will tell.

All the best!
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

Wednesday, March 17, 2010

Average prices in GTA Real Estate market over past 14 months

This chart shows the average single family residential prices since the beginning of January 2009. Average prices were at about rock bottom in January 2009 at $343k and 13 months later the average price was $431k an increase of $88,000, that is very significant!

Toronto 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

Tuesday, March 16, 2010

RBC is reporting a Bright Future Outlook for the Global Economy

RBC is reporting that the outlook for the global economy is looking very
positive. Only time will tell, but there are many indicators that are
showing the future looks bright indeed!

All the best,
Mark



A Brighter Outlook for the Global Economy

World GDP to increase by 3.9% in 2010.

Advanced economies are mainly out of recession and emerging economies to
post healthy gains.

U.S. economy to grow by 2.9% in 2010 and 3.4% in 2011.

Housing market fragile although worst has likely passed.

Inflation concerns on backburner; Fed watching for labour markets to
improve.

Early 2010 failed to deliver job increases although U.S. unemployment rate
fell from recent high.

Fed to unwind stimulus gradually with liquidity measures pared back first
and rate hikes coming later in the year.

Canada's economy surprised to the upside in fourth-quarter 2009 and
prospects brighten for 2010.

Domestic demand revives, and exports recover as global economy firms.

Inflation has been stickier than expected although the large output gap will
prevent significant price pressures from developing in the near term.

The Bank is already reducing liquidity support with rate increases likely
this summer.

investors appear to have more fully embraced the notion that the global
recession is a thing of the past. Growth reports remain mixed but by and
large indicate that most countries have cleared the hurdle needed to be in
full-fledged recovery mode.

The stronger than expected surge in U.S. GDP growth in the fourth quarter
and strengthening momentum in Canada's economy have made us more comfortable
with our forecasts of above trend growth in 2010 and 2011.

Similarly, the IMF revised up its 2010 world GDP growth forecast to 3.9%.
This was a solid upgrade to the 3.1% increase expected in October and about
double the pace projected in its April 2009 outlook. While investors can
breathe a sigh of relief on the state of the global economy

Sunday, March 14, 2010

Number of active real estate listings down about half in Toronto and GTA

This chart shows that the number of active listings is down considerably in
the past month or two compared to the previous 10 months.

With so little choice on the market, people are buying most properties
without having too many options.

This is a very good time to sell your home.

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

<http://www.mississauga4sale.com/selling-process.htm> Thinking of Selling?
| Best Mortgage Rates
<http://www.mississauga4sale.com/mortgage-rates-mark.htm> | Current Home
<http://www.mississauga4sale.com/TREBprice.htm> Prices | Search MLS
<http://www.mississauga4sale.com/mls-ca-real-estate-mississauga.htm> |
Newsletter
<http://www.mississauga4sale.com/newsletter/latest_newsletter.htm>
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
* BUS 905-828-3434
* FAX 905-828-2829 *CELL 416-520-1577
* E-MAIL <mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request> : mark@mississauga4sale.com
<mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request>
Website <http://www.mississauga4sale.com/index.htm> :
<http://www.mississauga4sale.com/index.htm> Mississauga4Sale.com

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary
<http://www.mississauga4sale.com/internet-evaluation.htm> & Quick
Over-The-Net Home Evaluation ?
* Power of Sales and Foreclosures
<http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm>
* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line
<http://www.mississauga4sale.com/popupquestion.htm> Real Estate Newsletter
sign up
* See seasonal housing patterns
<http://www.mississauga4sale.com/TREBavg1995date.htm>
* Would you like me to send you a 2010 Calendar
<http://www.mississauga4sale.com/Calendar-Order-Form.htm> ?

Saturday, March 13, 2010

Clarification of the new mortgage regulations when purchasing real estate in Ontario

Clarification of the new mortgage regulations when purchasing real estate in Ontario

The minimum down payment continues to be 5% for real estate purchases. There seems to be no plans to change this rule.
The new 10% equity rule applies to when you are refinancing your home, not on a purchaseonly.
The 20% minimum down payment rule applies to non-owner occupied (rental properties or investment properties) only.

All mortgages now need to be qualified on 5 year rates. This means that the rules have tightened somewhat.
In the past, 1,2,3 year, and variable rate mortgages were qualified based on the 3 year mortgage rate. This means that some homebuyers who have qualified in the past may not qualify under the new regulation if the debt service ratios were too close to the guidelines. It's a very slight change, but important for people who were very close to the maximum guidelines.
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

Friday, March 12, 2010

Curent spot and achievable mortgage interest rates in Toronto and the GTA

These are the current spot mortgage rates in Toronto and the GTA
TERMPOSTED Achievable RATES*
6 Month 4.60%3.50%
1 Year3.65%2.35%
2 Year3.95%2.90%
3 Year4.30%3.25%
4 Year5.04%3.64%
5 Year5.39%3.69%
7 Year6.30%4.95%
10 Year6.50%5.20%
Variable Rate1.85%
Prime Rate2.25%

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

Mortgage Belt Tightening New Qualifying Rate for Mortgage from Apr 19 will be 5.39% Post Rate

Good morning

For all variable-rate mortgages and fixed terms under five years, the new qualifying interest rate will be the greater of:

* the chartered bank 5-year posted rate (5.39% today), and
* the contract rate.

These changes take effect April 19, and are part of the new mortgage rules announced by the Finance Department on February 16.

The posted qualifying rate will be published by the Bank of Canada
http://www.bankofcanada.ca/en/index.html each Monday at approximately 12:01am Eastern Time.

Here’s the link: Posted Mortgage Rate http://www.bankofcanada.ca/en/rates/interest-look.html (Look for series V121764.)

Mortgages over five years will use the contract interest rate.

These changes only apply to mortgages over 80% LTV says CMHC, read their announcement here:
http://www.cmhc-schl.gc.ca/en/hoficlincl/ .

Currently lenders use qualifying rates at range from discounted 3-year fixed rates (like 3.29% today) to posted 5-year fixed rates (5.39% today).

For mortgages with multiple terms (e.g., hybrid mortgages), each term will be qualified using the applicable criteria above.

Based on recent inquiry levels from concerned borrowers, there may be a rush to get applications in under the old rules.

Please send this email to anyone you know who is thinking of purchasing in the next month or two!

I wish you 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


Thursday, March 11, 2010

Average Toronto single family real estate prices for past 10 years

This graph shows that the average price is up considerably over the past 10
years.
Although past performance is not an indication of future performance, real
estate appears to be an excellent long term investment.

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

<http://www.mississauga4sale.com/selling-process.htm> Thinking of Selling?
| Best Mortgage Rates
<http://www.mississauga4sale.com/mortgage-rates-mark.htm> | Current Home
<http://www.mississauga4sale.com/TREBprice.htm> Prices | Search MLS
<http://www.mississauga4sale.com/mls-ca-real-estate-mississauga.htm> |
Newsletter
<http://www.mississauga4sale.com/newsletter/latest_newsletter.htm>
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
* BUS 905-828-3434
* FAX 905-828-2829 *CELL 416-520-1577
* E-MAIL <mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request> : mark@mississauga4sale.com
<mailto:mark@mississauga4sale.com?subject=Mississauga Real Estate
Information Request>
Website <http://www.mississauga4sale.com/index.htm> :
<http://www.mississauga4sale.com/index.htm> Mississauga4Sale.com

* Thinking of selling your home in the next 3 to 6 months? Would you
like a Complimentary
<http://www.mississauga4sale.com/internet-evaluation.htm> & Quick
Over-The-Net Home Evaluation ?
* Power of Sales and Foreclosures
<http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm>
* If you have not already signed up to receive my monthly real estate
newsletter, you may do so here: On-Line
<http://www.mississauga4sale.com/popupquestion.htm> Real Estate Newsletter
sign up
* See seasonal housing patterns
<http://www.mississauga4sale.com/TREBavg1995date.htm>
* Would you like me to send you a 2010 Calendar
<http://www.mississauga4sale.com/Calendar-Order-Form.htm> ?