Wednesday, January 29, 2014

Ontario Apartment Vacancy Rates are up slightly according to CMHC

The Ontario Apartment Vacancy Rates are up slightly according to CMHC from early 2013

According to Canada Mortgage and Housing Corporation’s (CMHC) Spring 2013 Rental Market Survey, Ontario vacancy rates edged higher to 2.6 per cent in April 2013, up from 2.3 per cent in the spring of 2012.

With the universe of purpose-built rental units remaining unchanged, demand factors were entirely at play impacting vacancy rates this spring. Vacancy rates moved higher for bachelor (2.7%), 1-bedroom (2.7%) and 2- bedroom (2.5%) apartment units while remaining stable for three bedroom (2.2%) units.

See the image below for vacancy rates across the province

Mark


 


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 23, 2014

Predictions for Toronto GTA and Mississauga Real Estate market in 2014

Predicting the future is not for everyone.

I only like to predict about 2 to 3 weeks into the future with any certainty. Anything beyond that becomes speculation based upon trends, current conditions and human sentiment. Thus, I can speculate for you for 2014.

It would appear that our real estate market is poised to have another positive year regarding prices and sales volumes.

Interest rates are low, inventories are generally low (except the condo market) and there continues to be pent-up demand for real estate in the GTA

I don't see our condo market softening too much more than it currently is. I believe we are in for another 'normal' year for real estate this year.

With that said, unless we see an improvement in the condo market around Square One, our local condominium marketplace could sag in the first quarter. We won't know the direction until about March or April.

The December results are not out and it was a 'normal' December, slow, but typical.

January 2014 (now) is not beginning with a boom, but it could also be the ice cold temperatures - we are all hoping for some improvement in the weather and the real estate market in the coming weeks!

See a graph of how the market performs throughout the year, up in spring, down in summer, up in fall, down in winter, but always on the upslope:

http://www.mississauga4sale.com/TREBavg1995date.htm

See this graph on how steep the increase has been of late:

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

or view only the graph:

http://www.mississauga4sale.com/avgprices.JPG

I wish you all the best in 2014!

Thank you,

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
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
mark@mississauga4sale.com
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 ?
www.mississauga4sale.com/internet-evaluation.htm
* Power of Sales and Foreclosures
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 Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm
* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm
* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

Wednesday, January 22, 2014

Bank of Canada Keeps Prime rate at 1% again!

The Bank of Canada announced today that they are keeping the prime lending
rate at 1%

The Bank said that the reasons for this are:



* inflation is below 2%

* global growth is expected to rise in the next 2 years

* growth in Canada has been improved, but slower than anticipated

* economy is expected to gradually grow towards capacity over next two years

* inflation is expected to remain below target for some time, thus downside risks to inflation have grown in importance and keeping the rate as is will help keep inflation low

The Bank of Canada Prime rate has been at 1% since late 2010, over 3 years

I hope this finds you well,

Mark





This is the full release:



Highlights from the bank of Canada Rate announcement:



Ottawa -

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

Inflation in Canada has moved further below the 2 per cent target, owing largely to significant excess supply in the economy and heightened competition in the retail sector. The path for inflation is now expected to be lower than previously anticipated for most of the projection period. The Bank expects inflation to return to the 2 per cent target in about two years, as the effects of retail competition issipate and excess capacity is absorbed.

Global growth is expected to strengthen over the next two years, rising from 2.9 per cent in 2013 to 3.4 per cent in 2014 and 3.7 per cent in 2015. The United States will lead this acceleration, aided by diminishing fiscal drag, accommodative monetary policy and stronger household balance sheets. The improving U.S. outlook is affecting global bond, equity, and currency markets. Growth in other regions is evolving largely as projected in the Bank's October Monetary Policy Report (MPR). Global trade growth plunged after 2011, but is poised to recover as global demand strengthens.

In Canada, growth improved in the second half of 2013. However, there have been few signs of the anticipated rebalancing towards exports and business investment. Stronger U.S. demand, as well as the recent depreciation of the Canadian dollar, should help to boost exports and, in turn, business
confidence and investment. Meanwhile, recent data have been consistent with the Bank's expectation of a soft landing in the housing market and a stabilization of household indebtedness relative to income.

Real GDP growth is projected to pick up from 1.8 per cent in 2013 to 2.5 per cent in both 2014 and 2015. This implies that the economy will return gradually to capacity over the next two years.

Although the fundamental drivers of growth and future inflation appear to be strengthening, inflation is expected to remain well below target for some time, and therefore the downside risks to inflation have grown in importance. At the same time, risks associated with elevated household imbalances have not materially changed. Weighing these considerations, the Bank judges that the balance of risks remains within the zone articulated in October, and therefore has decided to maintain the target for the overnight rate at 1 per cent. The timing and direction of the next change to the policy rate will depend on how new information influences this balance of risks.



This is from the papers.....

The Bank of Canada kept its benchmark interest rate steady at one per cent today, continuing its longest stretch of inaction on record.

Canada's central bank last changed its target for the overnight rate in late 2010, when it was raised to its current level. The bank announces its latest policy decision on interest rates every six weeks, and the bank has now stood pat for 26 consecutive policy meetings.

In a statement accompanying Wednesday's decision, the bank said it expects inflation to remain lower than previously anticipated for the next little while. It also said it expects a soft landing in the housing market.

The bank wasn't expected to raise or lower rates on Wednesday, but watchers are closely parsing the statement to gauge which direction the bank is heading in - a rate hike to cool inflation, or a rate cut to stimulate the economy.

Wednesday's statement suggests the bank is leaning toward the former.

The loonie plunged in the immediate aftermath of the news, shedding about a third of a cent to trade at 90.70 cents US.





I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
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
mark@mississauga4sale.com
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 ?
www.mississauga4sale.com/internet-evaluation.htm
* Power of Sales and Foreclosures
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 Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm
* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm
* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

Tuesday, January 21, 2014

The Rest Is Just Sand - great way of thinking to become Inspired

This is a very good article and puts things into perspective - it's very true and inspirational!

This was a re-tweet that I just read and copied here for you to read and enjoy!

To your success!
Mark

So here is the article.....


"A professor stood before his philosophy class and had some items in front of him. When the class began, he wordlessly picked up a very large and empty mayonnaise jar and proceeded to fill it with golf balls. He then asked the students if the jar was full. They agreed that it was.

The professor then picked up a box of pebbles and poured them into the jar. He shook the jar lightly. The pebbles rolled into the open areas between the golf balls. He then asked the students again if the jar was full. They agreed it was.

The professor next picked up a box of sand and poured it into the jar. Of course, the sand filled up everything else. He asked once more if the jar was full.. The students responded with a unanimous 'yes.'

The professor then produced two Beers from under the table and poured the entire contents into the jar effectively filling the empty space between the sand.The students laughed..

'Now,' said the professor as the laughter subsided, 'I want you to recognize that this jar represents your life. The golf balls are the important things--your family, your children, your health, your friends and your favorite passions--and if everything else was lost and only they remained,
your life would still be full. The pebbles are the other things that matter like your job, your house and your car.. The sand is everything else--the small stuff.

'If you put the sand into the jar first,' he continued, 'there is no room for the pebbles or the golf balls. The same goes for life.

If you spend all your time and energy on the small stuff you will never have room for the things that are important to you.

Pay attention to the things that are critical to your happiness.

Spend time with your children. Spend time with your parents. Visit with grandparents. Take your spouse out to dinner. Play another 18. There will always be time to clean the house and mow the lawn.

Take care of the golf balls first--the things that really matter. Set your priorities. The rest is just sand.

One of the students raised her hand and inquired what the Beer represented. The professor smiled and said, 'I'm glad you asked.'

'If you fill your life with only beer, you wont find room for anything else.'

__________________
My son Evan read this and responded to me and said " The fortunate part is that you can definitely empty out the jar and fill it again in a different way."

.... and I never thought of this, but it's so true, you can start over at anytime in your life with new goals and aspirations, love it!
Have a great day!
Mark

Monday, January 20, 2014

Mid January 2014 sales figures report from the Toronto Real Estate Board

This is the mid-month report from the Toronto Real Estate board with regards
to sales figures



In summary:

* transactions for first two weeks of 2014 are down approximately 8% compared to first two weeks of 2013

* new listings were down about 20%

* average selling price was up by about 12% compared to same period 1 year ago

See full report and statistics below.

Mark


GTA REALTORS(r) RELEASE MID-MONTH RESALE HOUSING FIGURES

TORONTO, January 17, 2014 -



Greater Toronto Area REALTORS(r) reported 1,287 transactions through the TorontoMLS system during the first two weeks of 2014. This result was down by approximately eight per cent compared to 1,396 sales reported during the same period in 2013.

New listings entered into the system were down by a greater 20 per cent year-over-year.

"The expectation is that home sales through the TorontoMLS System will be up in 2014. This is because the cost of purchasing an average priced home, including mortgage payments, property taxes and utilities, will remain affordable for a household earning the average income in the GTA," said Toronto Real Estate Board President Dianne Usher.

"Aside from the fact that January sales from year-to-year tend to be volatile, the dip in sales during the first two weeks in January was likely due in large part to a lack of new listings. Quite simply, some would be home buyers could not find a home that met their needs," continued Ms. Usher.

The average selling price for the first 14 days of January 2014 was $515,990 - up by 12 per cent compared to the average price reported for the same timeframe in 2013.

"The average selling price in the GTA will continue to trend upward in 2014.

Listings will remain below the pre-recession peak and sales are expected to increase over 2013. This means that we will continue to see substantial competition between buyers for some home types and in some areas of the GTA," said Jason Mercer, TREB's Senior Manager of Market Analysis.

I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
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
mark@mississauga4sale.com
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 ?
www.mississauga4sale.com/internet-evaluation.htm
* Power of Sales and Foreclosures
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 Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm
* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm
* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

Monday, January 06, 2014

TREB Real Estate Report for 2013 Final Figures

Below is the latest release of figures for December 2013 and finalizes the figures for averages for 2013


Our market was off to a slow start last year due to an uneasy economic outlook and the fiscal cliff drama in the USA.

We recovered from the slow start and 2013 ended up being a good year for sales and prices in the GTA.

See more at this page about average prices and read the press release below.

Thanks!

Mark


GTA REALTORS(r) Report Monthly Resale Housing Market Figures


TORONTO, January 6, 2014 - Greater Toronto Area REALTORS(r) reported 4,078 residential transactions through the TorontoMLS system in December 2013 - up by almost 14 per cent compared to 3,582 sales reported in December 2012. New listings entered into the TorontoMLS system were down by almost four per cent over the same period.

Total sales for calendar year 2013, at 87,111, were up by approximately two per cent compared to 85,496 transactions in calendar year 2012.

"After a slow start to the year, sales growth accelerated to a brisk pace in the second half of 2013. Despite the inclement weather in December, we finished the year with a respectable gain in transactions compared to 2012.

Looking forward, I believe that home ownership in the GTA will remain affordable as borrowing costs stay low. The result could be a further increase in sales in 2014," said Toronto Real Estate Board President Dianne Usher.

"The average selling price will be up again in 2014 and by more than the rate of inflation. The seller's market conditions that drove price growth in the second half of 2013 will remain in place in many parts of the GTA. Some neighbourhoods, especially those characterized by low-rise home types like singles, semis and townhomes, will continue to have less than two months of inventory," said Jason Mercer, TREB's Senior Manager of Market Analysis.

The average selling price for December 2013 sales was $520,398 - up by 8.9 per cent compared to the average of $477,756 in December 2012.

The average selling price for 2013 as a whole was $523,036, which represented an increase of 5.2 per cent compared to the calendar year 2012 average of $497,130.


I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
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
mark@mississauga4sale.com
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 ?
www.mississauga4sale.com/internet-evaluation.htm
* Power of Sales and Foreclosures
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 Real Estate Newsletter sign up
www.mississauga4sale.com/popupquestion.htm
* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm
* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

House Price Trends in Mississauga and Toronto GTA

Hello from beautiful Mississauga!

House prices will very likely increase in the next 12 months.  All things being equal and similar to previous years in real estate, the market should increase between March and June by about 3% to 7%

You can see the seasonal increases at this link:

http://www.mississauga4sale.com/TREBavg1995date.htm

We expect this spring market to increase by about the same as previous year increases.

We do not see mortgage interest rates increasing for at least a year, maybe another 18 months, the mortgage market is soft and the economy would not be able to absorb a sudden increase in rates.

I don't think you should ever delay your house purchase decision, unless you have a very good reason to do so. The sooner you get into the real estate market, the more money you will be putting towards your mortgage principal and paying down your mortgage, you will be increasing your equity and the less money you will waste spending on rent.

Benefits to home ownership:

http://www.mississauga4sale.com/psychology-ownership.htm

I hope this helps.

Please let me know if you have any other questions or require further information.

Thank you,

Mark

Saturday, January 04, 2014

Toronto Mississauga and GTA Real Estate Market in 2014

This is what we are anticipating and what I'm seeing for the real estate market in 2014















The December results are not out yet, but many are speculating it was a 'normal' December, the slowest month of the year, but typical. January 2014 (now) is not beginning with a boom, but it could also be the ice cold temperatures - we are all hoping for some improvement in the weather and the real estate market in the coming weeks and look for February to be one of the strongest months of the year to sell!

Our fall market did not perform as well as everyone expected. TREB and many financial people are predicting that prices will rise again in 2014, anywhere from 3 to 6% - only time will tell on this.

See a graph of how the market performs throughout the year, up in spring, down in summer, up in fall, down in winter, but always on the upslope:

http://www.mississauga4sale.com/TREBavg1995date.htm

See this graph on how steep the increase has been of late:

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

or just the graph:

http://www.mississauga4sale.com/avgprices.JPG

We anticipate that late January into February will be a very good time to sell as there will be low supply and higher demand, this should work well for sellers.

We will be working feverishly to market and promote your property as best as we can to take advantage of the marketplace and get it sold at the best price and terms possible.

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

Thank you,

Mark

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

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