Friday, January 29, 2010

Power-of-sale, Foreclosure, Foreclosures and quit claim question

this was one of those feel good letters I just received from a person and
thought I would share the information with you
Enjoy!
Mark

Mark,
You have one of the best site for general information and quality for make a
house sold.

My name is A .G., I am the mortgage holder of this house that we sold in T .
Ontario about three years go'.

The people in the house have develop financial problems. They start running
too many charges where now start default in not making the payments.

My question is: should I execute Power of sale or in return to have the
house with list damage I should accept the quit claim. Read about Power of
Sale and quit claim on my site here:
http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm

They have zero equity in this house. They only put down $5000 on house price
of 220,000. The command price in the house is less now then when was sold.

I wish you were here and I would hire on the spot. Your luggage of
information is outstanding

Thanks,
A.

Thursday, January 28, 2010

step by step outline on how to become a real estate broker in Ontario

Hello Mark:



As a fellow engineer, I'm hoping you could provide me with a step by step
outline on how to become a real estate broker in Ontario. I would like to
start part time until I have enough experience to write the brokers exam.
Any assistance is appreciated.



Thank you.



Jim

My answer:


Hi Jim,

Thank you for your email. Licensing in Ontario is governed by the Ontario
Real Estate Organization.

I have a section just for people like you with questions about how to obtain
their real estate license:
http://www.mississauga4sale.com/how-to-become-a-real-estate-agent-realtor.ht
m

Their website has a step by step outline,
I wish you all the best!
Mark

Wednesday, January 27, 2010

Should I lock in at 5 year or variable mortgage interest rate?

Another great question from an interested reader, and my answer below

Hi Mark,

After looking through a whole bunch of Google results, I found yours the
most intelligent and sensible. So, if you don't mind, I would like to ask
you this at this point in time, as your posting is somewhat old:

I am being offered these two options before my March 2 renewal date on a
$202,000 mortgage with 23 yr. amortization:

1). 5 Year Closed @ 3.81% - 23 Year Amortization with Weekly Regular
Payments: $252.77

2). 5 Year Variable @ Prime Minus 0.35% (currently 1.90%) - 23 Year
Amortization with Weekly Regular Payments: $208.32

Which one would YOU choose?

Thanks.
--
H.S.A. Harry, Calgary, Alberta, Canada

Hi H .,

I am a firm believer in paying that mortgage off. We may never see today's'
rates again. I would go with option 2 and have your bank lower your
amortization on renewal until the payment is $250 per week. This should
reduce your amortization to about 18.2 years, see the calculator here:
http://www.mississauga4sale.com/mortgage-amortization-creator.htm

Then in 5 years when it comes time to renew, you will only have 13 years
left to go on your mortgage.

Even if the prime rate increases, which it is supposed to, the 5 year
variable has to climb to about 5.5% for you to be even compared to the 3.81%
mortgage for 5 years and you will still be ahead of the game. Reason is, it
may take 2 years to reach 5.5%, if ever, and then you have saved a pile in
interest in the first 2 years of your mortgage. You should be earning more
in 2 years from now and look at it as an investment in yourself.

Also, in 3 years, you can renew that 5 year mortgage and who knows, there
may be some good specials out there that you can take advantage of.

You should be better off in the long run going short term, read my
experience here:
http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm

All the best!
Mark

Tuesday, January 26, 2010

Current Mortgage Interest rates

Mortgage interest rates are changing almost weekly.

Please browse and
http://www.mississauga4sale.com/Rates-Current-Posted-Mortage-Interest-Rate.htmview the current mortgage interest rates and how they have changed over
the past few months.

You can view and compare Today's Low Canada and Ontario Current Mortgage
Interest rates from major lenders for discounted, variable, fixed and prime
rates in Canada and a mortgage calculator at this page:


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

Any time you have questions about interest rates, please let me know. As an
experienced RE/MAX(r) agent who has helped many people purchase homes, I
have every confidence that I'll be able to help you find what you're looking
for as long as we work together and keep in frequent contact.

I look forward to our next meeting. Please feel free to call or email me.

You may sign up to my monthly real estate newsletter using this link:
http://www.mississauga4sale.com/popupquestion.htm; On-Line Real Estate
Newsletter sign up

Or you may wish to receive new
http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm
Power of Sale Listings twice per week.

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

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

Monday, January 25, 2010

Number of days on market in west zones for Toronto Mississauga and GTA Real Estate Marketplace

This graph shows the number of days that it takes to sell a property in the west zones in Toronto Mississauga and GTA Real Estate Marketplace. This indicates that it takes about 30 days to sell the average home in the west. This too indicates that our market is fast and homes and condos are selling quite well right now


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

Friday, January 22, 2010

Could this be the home?

New listings at my site: http://www.mississauga4sale.com/listings.htm at
this link

If you'd like to view this home or any other home on the page please email
or call me anytime.

Maybe you are interested in POS (Power of Sale) listings, if so,
http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm
follow this link

Hope to hear from you soon!

Thanks again.

Ratio of Sales to active listings in west Toronto Mississauga and GTA Real Estate Marketplace

This graph shows you the past 12 months in the west zones only and shows the number of sales divided by the active listings ratio for the in Toronto Mississauga and GTA Real Estate Marketplace
This indicates that about 55% or so of homes on the market are selling, this is very high compared to historical data that shows about 40 to 45% of active listings sell. Again, another indicator that our housing market is quite hot in the west GTA


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

Thursday, January 21, 2010

Mortgage interest rate update for Toronto and Mississauga Real Estate Market

These are the current posted and attainable mortgage interest rates for Toronto and Mississauga Real Estate Market


TERMPOSTED BEST RATES*
6 Month 4.60%3.50%
1 Year3.65%2.30%
2 Year3.95%2.90%
3 Year4.50%3.25%
4 Year5.19%3.84%
5 Year5.59%3.79%
7 Year6.60%5.19%
10 Year6.70%5.30%
Variable Rate2.10%
Prime Rate2.25%












*Rates may vary provincially and are subject to change without notice OAC.
Rates Last Updated: Thursday, January 14, 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


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

Wednesday, January 20, 2010

Bank of Canada has decided to maintain the current prime overnight target interest rate at .25%

The Bank of Canada has decided to maintain the current prime overnight target interest rate at .25%

The next bank rate announcement is scheduled for March 2nd, 2010

This is the entire press release below.

Enjoy!
Mark



The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent.

The global economic recovery is under way, supported by continued improvements in financial conditions and stronger domestic demand growth in many emerging-market economies. While the outlook for global growth through 2010 and 2011 is somewhat stronger than the Bank had projected in its October Monetary Policy Report, the recovery continues to depend on exceptional monetary and fiscal stimulus, as well as extraordinary measures taken to support financial systems.

Economic growth in Canada resumed in the third quarter of 2009 and is expected to have picked up further in the fourth quarter. Total CPI inflation turned positive in the fourth quarter and the core rate of inflation has been slightly higher than expected in recent months. Nevertheless, considerable excess supply remains, and the Bank judges that the economy was operating about 3 1/4 per cent below its production capacity in the fourth quarter of 2009.

Canada's economic recovery is expected to evolve largely as anticipated in the October MPR, with the economy returning to full capacity and inflation to the 2 per cent target in the third quarter of 2011. The Bank projects that the economy will grow by 2.9 per cent in 2010 and 3.5 per cent in 2011, after contracting by 2.5 per cent in 2009.

The factors shaping the recovery are largely unchanged -- policy support, increased confidence, improving financial conditions, global growth, and higher terms of trade. At the same time, the persistent strength of the Canadian dollar and the low absolute level of U.S. demand continue to act as significant drags on economic activity in Canada. On balance, these factors have shifted the composition of aggregate demand towards growth in domestic demand and away from net exports. The private sector should become the sole driver of domestic demand growth in 2011.

Conditional on the outlook for inflation, the target overnight rate can be expected to remain at its current level until the end of the second quarter of 2010 in order to achieve the inflation target. Consistent with this conditional commitment, the Bank will continue to conduct term Purchase and Resale Agreements based on existing terms and conditions and according to the accompanying schedule:

In its conduct of monetary policy at low interest rates, the Bank retains considerable flexibility, consistent with the framework outlined in the April 2009 MPR.

The risks to the outlook for inflation continue to be those outlined in the October MPR. On the upside, the main risks are stronger-than-projected global and domestic demand. On the downside, the main risks are a more protracted global recovery and persistent strength of the Canadian dollar that could act as a significant further drag on growth and put additional downward pressure on inflation. While the underlying macroeconomic risks to the projection are roughly balanced, the Bank judges that, as a consequence of operating at the effective lower bound, the overall risks to its inflation projection are tilted slightly to the downside.

Information note:

A full update of the Bank's outlook for the economy and inflation, including risks to the projection, will be published in the Monetary Policy Report on 21 January 2010. The next scheduled date for announcing the overnight rate target is 2 March 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


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

Tuesday, January 19, 2010

Mid January 2010 Mississauga and GTA Residential Real Estate Report



This is the mid month report from TREB and shows that prices and sales are up considerably compared to the same period in 2009, Enjoy!


Mark










GTA REALTORS® REPORTING JANUARY MID-MONTH HOUSING STATISTICS



TORONTO, January 18, 2010 - Greater Toronto REALTORS® reported 1,749 existing home sales on the Multiple Listing Service (MLS®) during the first two weeks of January.



This result was almost double the 888 sales reported for the same period in 2009, when sales had dipped to a recessionary low.



“We have had a strong start to 2010,” said Toronto Real Estate Board President Tom Lebour.



“Widespread sales growth in terms of geography and housing type indicates that many households remain confident in their ability to purchase and pay for a home over the long-term.”



The average price for transactions in the first two weeks of January was $395,307, compared to an average of $332,495 for the same period in 2009.



“Double-digit average annual price growth will continue through the first quarter of 2010 as sales remain high relative to listings and we continue to make comparisons to last year’s



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





Single family residential overall sales numbers in Toronto Mississauga and GTA Real Estate Marketplace

This graph shows the number of single family residential sales numbers overall in Toronto Mississauga and GTA Real Estate Marketplace for the entire 2009 year


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

Monday, January 18, 2010

Single family residential snapshot for sales in Toronto Mississauga and GTA Real Estate Marketplace

Single family residential snapshot for sales in Toronto Mississauga and GTA Real Estate Marketplace
This graph shows you the percentage of each housing type that was sold last month


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

Sunday, January 17, 2010

Housing market indicators for real estate in Toronto Mississauga and GTA Real Estate Marketplace Marketplace

Housing market indicators for real estate in Toronto Mississauga and GTA Real Estate Marketplace
Sales are up 115% for last month compared to same month in 2008
New listings are up slightly 6% compared to same month in 2008
Days on the market is down 40% for December 2009 compared to same month in 2008, indicating a very fast market!


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

Saturday, January 16, 2010

Average single family residential real estate sales prices since 1999 in Toronto Mississauga and GTA Real Estate Marketplace

This graph shows the average prices for single family residential real estate in Toronto Mississauga and GTA Real Estate Marketplace since 1999 and shows that there is a clear trend.
As the RBC states, past performance is not an indication of future trends... no kidding... but let's hope that this continues for some time to come!

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

Friday, January 15, 2010

Chart showing 2009 and 2009 average price per month for Toronto Mississauga and GTA Real Estate Marketplace

This chart shows the average price for each month since January of 2008 and 2009 in Toronto Mississauga and GTA Real Estate Marketplace
Prices have increased year over year. you can see the fall in the prices in the fall of 2008 and then the rebound in 2009


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

Thursday, January 14, 2010

Average and median average prices since 1997 in Toronto Mississauga and GTA Real Estate Marketplace

This Chart shows the annual average and median prices since 1997 and shows that real estate is a good investment in Toronto Mississauga and GTA Real Estate Marketplace


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

Wednesday, January 13, 2010

Active Listings Down in Toronto Mississauga and GTA Real Estate Marketplace

This graph shows that the number of active listings in Toronto Mississauga and GTA Real Estate Marketplace is down, this is part of the reason that the market is so fast right now. Anything that comes on the market is sold quite quick if it shows well and is priced right.


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

Monday, January 11, 2010

Predictions for Mississauga GTA Real Estate Marketplace in 2010

Hi

So here we are again, at the end of another year, actually the end of a
decade and the beginning of a new year. Every year at this time we can look
back and reflect on what has happened in the past year with certainty. Also
at this time of year this is the time that we try and peer into the future
and predict what will happen with far less certainty. In real estate it's
very critical to try and predict the future because so much is relying on
it.

It takes quite a bit of time to condense my thoughts and observations into
this section of predictions for 2010. Part of the reason is that I want to
be as accurate as possible. As well, I know that many people will read this
page and rely on some of the predictions contained herein. Therefore, I
want to give as good advice as possible, advice that is realistic and yet
insightful.

Real estate is one of the few things in our lives that tends to increase in
value year after year after year. There is no certainty with this increase,
but it sure has seemed certain over the past 15 years. Our year over year
average single family residential price has increased every year since 1985,
except the fall of 2008, including this year. Don't believe me, see the
graph here:
http://www.mississauga4sale.com/TREBavg1995date.htm

There are some, many in fact that are predicting that we in the GTA and
especially BC are sitting at the peak and prices are about to crash. Garth
Turner is one person who is predicting that prices are almost guaranteed to
fall in 2010 I don't agree with him and don't feel that our area,
Mississauga and the GTA will fall in the next year.

What do we know with certainty for the future? We know the following is
almost guaranteed to happen in the Mississauga and GTA real estate
marketplace:

* Interest rates will increase in 2010, the Bank of Canada is
currently stating rates will increase in mid 2010 - this will put downward
pressure on prices after rates increase, but will cause many buyers to buy
before the rates increase and anticipation of the increase in rates
* there will be a shortage of listings for at least January and maybe
into February, this is a near certainty based upon the past 22 years for
January and early February, not many people list their homes at these times
- this will cause upward pressure on prices in the fist quarter of 2010
* HST will come into effect July 1, 2010 and this will increase the
cost when selling your home and to a lesser extent increase the cost to the
buyers, this will put slight downward pressure on prices

This is what we know with less certainty:

* the US real estate recovery seems to be happening
* the US and global economy will improve in 2010
* people may perceive that the HST will causes prices to increase once
it comes into effect and try to save some money before July 1st and this
could cause a mini boom in our market in the late spring of 2010

Due to the fall in late 2008, the average price in 2009 compared to 2008 is
up about 12%. We are up about the same percentage comparing 2007 to 2009
This is what I predicted in January for 2009
http://www.mississauga4sale.com/Toronto-GTA-Real-Estate-Market-Predictions-2
009.htm#2009
When I read the predictions I made back in January for 2009 it
makes me think that maybe I should go into the prediction business, more
than 3/4 of the things I predicted came true! I was wrong on Gold and wrong
on Gasoline prices, otherwise my predictions were quite close.

* These are my predictions for 2010 below and also online at this
link:
http://www.mississauga4sale.com/Toronto-GTA-Real-Estate-Market-Predictions-2
010.htm#2010

* I predict that our prices will increase about 4 to 6% in 2010 with
some softening in our market when the Bank of Canada increases rates in the
middle of 2010, once the Olympics end in the first quarter of 2010 and the
'dreaded' HST comes into affect July 1st of 2010
* Mortgage rates will increase beginning about July of this year, the
bank prime rate as of January 1, 2010 is 0.25% and I predict by year end it
will be at 1.00% to 1.50% This means that current mortgage interest rates
will increase by about 1.25% to 2% over what they currently are. This may
sound excessive, but I firmly believe that our economy will bustle this year
and increased rates will be necessary to calm things down a little, plus the
banks will want to gouge a little in light of increasing prime rates. They
often do this when rates are increasing as they can get away with it with
little backlash.
* I still believe you should go short term on your mortgage, read more
here about why I feel this way:
http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm
* We live in a very vibrant, growth oriented area of North America
with a very diverse economy and culture. People seem to want to work hard
and improve upon their personal and financial situation and almost everyone
I meet is employed and optimistic about the future. This is good for the
local economy and our future.
* No matter what happens, as long as you continue to work hard, save
10% of your gross income, watch what you spend, don't get into too much debt
that you can't handle it should you find yourself with a a job for a few
months, then you should be able to slowly and surely achieve financial
independence.
* The condo market will continue to surge, it's affordable and
desirable
* Bungalow style homes will become more desirable, (they currently are
very desirable), as our population age increases
* Barrel of oil will be $100 at end of year and gasoline will be $1.10
and gold will be $1100 per ounce at end of 2010
* Once again, beware the emotions of
<http://www.mississauga4sale.com/Market-Emotions-Cycle.htm> the marketplace
and stick to your long range goals , currently I believe we are in the
optimism/excitement phase so things may get really hot this spring in the
market.
* I still subscribe to all the values and principles that I've written
about in the past on this page below.
* I am a very optimistic person and always believe that I can do
better by reading and doing things every day that contributes to my long
term goals. I always set high but attainable goals and often come close to
reaching my goals and even if I fall short, I've surpassed what I have done
in the past. I subscribe to many newsletters that preach optimism and
growth and these help me stay sharp and continue to learn. Every day I seem
to learn something new, so at least I'm growing. You can read some of the
ideas that I subscribe to and believe at this page:
http://www.mississauga4sale.com/Motivation-Success-Ten-Scrolls.htm

That's about it for now, keep to your plan invest in real estate for the
long term, you cannot go wrong.

I wish you a very Happy New Year and all the best to you and your family in
2010
Mark

Sunday, January 10, 2010

Average annual income of a real estate agent

Some people think real estate agents earn huge money, millions per year! LOL

Too bad that is not the case.

If you take the total number of properties sold on the Toronto Real Estate Board (TREB) last year multiplied by the average selling price and then take 2% commission as the average per side in the transaction then the 'average' agent earned approximately $31,000 in 2009

87000 properties sold last year on TREB, 23000 realtors on TREB, average price $411,000 and 2.0% average commission per end equals $31000 average income on TREB
(87 000 / 23 000) * 411 000 * .020 = 31 093
In the US the average sales agent earns about $28,400 and the average for brokers and sales reps is about $36,700 (just another reason, besides the warm weather, to move to the US! LOL)

Median Gross Personal Income of REALTORS®

YEAR

Brokers/
Broker-Associates

Sales
Agents

ALL REALTORS®

2008

$49,300

$28,400

$36,700

2007

$65,200

$31,000

$42,600

2006

$73,300

$34,600

$47,700


All the best!
Mark

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

Saturday, January 09, 2010

You think Mississauga and Toronto condos are expensive, check out Manhattan, New York City prices!

check out these prices of Condominiums in Manhattan, unreal

these are for condos

The average price per square foot here in Mississauga is about $300 so for a 1000 sqft condominium it would cost about $300,000 - on average

In Manhattan, the cost is about $1176 per sq ft so the same condo would cost $1,176,000 - good grief!

Friday, January 08, 2010

TREB market watch for the Toronto and GTA real Estate Marketplace for 2009

This is the detailed report from TREB market watch for the Toronto and GTA real Estate Marketplace for 2009

2009 was a solid year, it began slowly, but the last half of the year was very active and overall prices increased 4% compared to the previous year.

GTA Resale Market Resilient in 2009

TORONTO - Wednesday, January 6, 2010

Greater Toronto REALTORS® reported 87,308 MLS® transactions in 2009 – a 17 per cent increase over 2008.

This result included 5,541 sales in December. The 2009 result was in line with the healthy levels of sales experienced between 2004 and 2006, but lower than the record of 93,193 set in 2007.

“After a slow start to the year, existing home sales rebounded during the second half of 2009,” said TREB President Tom Lebour.

“As consumer confidence improved, many households moved to take advantage of affordable home ownership opportunities in the GTA. The strong residential real estate sector was a key contributor to overall economic recovery in Canada.”

The average home price in 2009 climbed four per cent to $395,460.

The average price for December transactions was $411,931.

“Market conditions became very tight in the latter half of 2009.

Sales climbed strongly relative to the number of homes listed for sale, resulting in robust price growth that more than offset average price declines in the winter,” said Jason Mercer, TREB’s Senior Manager of

Market Analysis. “A greater supply of listings in 2010 will see home prices grow at a sustainable pace.”

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, January 07, 2010

2009 GTA TREB residential real estate resale home sales up and prices up for year

The figures for the 2009 are out for Toronto and GTA real estate market and they show that after a slow start in the spring, the real estate market rebounded nicely in the last 3/4 of the year. In fact, the number of sales year over year was up 17% and average prices were up to $411,931 for single family residential dwellings, an increase of 4% over the previous year.

GTA REALTORS® REPORT DECEMBER RESALE HOUSING MARKET FIGURES

TORONTO, January 6, 2010 -- Greater Toronto REALTORS® reported 87,308 MLS® transactions in 2009 – a 17 per cent increase over 2008. This result included 5,541 sales in December.

The 2009 result was in line with the healthy levels of sales experienced between 2004 and 2006, but lower than the record of 93,193 set in 2007.

“After a slow start to the year, existing home sales rebounded during the second half of 2009,” said TREB President Tom Lebour. “As consumer confidence improved, many households moved to take advantage of affordable home ownership opportunities in the GTA.

The strong residential real estate sector was a key contributor to overall economic recovery in Canada.”

The average home price in 2009 climbed four per cent to $395,460. The average price for December transactions was $411,931.

“Market conditions became very tight in the latter half of 2009. Sales climbed strongly relative to the number of homes listed for sale, resulting in robust price growth that more than offset average price declines in the winter,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “A greater supply of listings in 2010 will see home prices grow at a sustainable pace.”

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



MREB (Mississauga Real Estate Board) reports high number of sales in November

MREB (Mississauga Real Esate Board) reports high number of sales in November


November a record breaking month for MLS® home sales

MLS® home sales in the area served by the Mississauga Real Estate Board rose to the highest level on record for the month of November in 2009. The current strength of demand stands in sharp contrast to the weak activity levels of one year ago.

According to the Board’s statistics, MLS® home sales numbered 996 units in November 2009, more than double year-ago levels. The large year-over-year gain reflects the extent to which demand has recovered from one year ago, when news of the global financial crisis hammered consumer confidence.

“November was another record month for sales,” said Judi Lloyd, President of the Mississauga Real Estate Board. “The difference in the resale housing market now, compared to one year ago, is night and day.”

Seasonally adjusted sales also set another new record in November, jumping 15 per cent from October (seasonal adjustment removes normal seasonal fluctuations). Seasonally adjusted MLS® activity now stands 149 per cent above the low in January.

The total value of all MLS® residential sales was $376.3 million in November 2009, a new record for the month, and an increase of 142 per cent from year-ago levels.

The average price for MLS® home sales was $377,799 in November 2009, the highest level on record for the month. This represents an 11 per cent gain from a year earlier, the third consecutive double-digit increase in price.

The number of new listings on the Board’s MLS® system in November 2009 was on par with the same month last year. This stands in contrast to the double-digit declines in each of the past four months.

Strong demand continues to draw down inventories. The number of active listings declined on a year-over-year basis for the eighth time in as many months in November, and dropped by more than 50 per cent for the second consecutive month. Active residential listings on the Board’s MLS® system numbered 1,357 units at the end of November 2009, falling 55 per cent from a year earlier. This is the lowest the supply of homes on the market has been in eight years.

There were 1.4 months of inventory at the end of November, down slightly from the previous month. This is the lowest level in more than a decade. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

About the Mississauga Real Estate Board
Established in 1954, the Mississauga Real Estate Board represents approximately 1,600 real estate Brokers and salespersons from Mississauga and surrounding areas. Members of the Board use the REALTOR® trademark, which identifies them as real estate professionals who subscribe to a strict Code of Ethics. Advertisements of local MLS® property listings and information about the services provided by a REALTOR® can be found at mreb.ca

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


Wednesday, January 06, 2010

US existing home sales are UP


This report below summarizes the US resale home sales volumes and prices


US Existing Home Sales, November 2009 Results
Source: National Association of REALTORS
Link to Release:
http://www.realtor.org/press_room/news_releases/2009/12/another_respond

Summary: In November, U.S. existing home sales rose 7.4 percent to a seasonally adjusted annual rate of 6.54 million units from a revised 6.09 million in October.


Sales remain at their highest level since February 2007. First-time buyers accounted for over half of sales, as buyers rushed to take advantage of the first-time buyer tax credit which was ultimately extended.


Inventories continued to decline, edging down to 6.5 months of supply from the 7.0 months recorded in October.


At $172,600, median prices for homes remained below 2008 levels, down 4.3 per cent from November of last year. The large number of “distressed sales” (approximately one-third) has been a drag on annual price growth.


Analysis: The growth in existing home sales and shrinking supply is a positive sign for the US economy. Similar to Canada, each resale home transaction results in substantial spin-offs to other sectors of the economy related to housing (financial services, home improvement etc.). The combination of shrinking supply and increasing sales also bodes well for renewed home price growth moving through 2010, which will serve bolster US consumer confidence.


This is important, given that consumer spending accounts for over 70 per cent of US GDP and is also the driver of US trade with other countries like Canada.


Tighter resale market conditions have also benefitted the new home market in the US. Many home buyers have spilled over into the new home market, which has resulted in more starts in recent months compared to the outset 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


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