Wednesday, March 18, 2015

Bank of Montreal BMO announced a reduction to their interest rates yesterday and cut the 5 year rate to 2.79% from 2.99%

Good morning from Beautiful Mississauga!

The Bank of Montreal announced a reduction to their interest rates yesterday, they cut the 5 year rate to 2.79% from 2.99% TD Bank followed this rate cut

The Bank of Montreal announced a ‘special’ rate for its five-year fixed-rate loan and was quickly followed by Toronto-Dominion.


This is typical of the banks to do this just before the prime lending season!

The BMO deal cuts its standard rate of 2.99 per cent to 2.79 per cent. TD Bank followed by cutting its 3.09 per cent rate to match BMO.

Although mortgage brokers can frequently do better than the advertised rate from the banks, the BMO move is seen as a headline-grabber to steal a lead on competitors, including the smaller lenders and non-bank sector


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

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.comMississauga4Sale.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 Foreclosureswww.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 patternswww.mississauga4sale.com/TREBprice.htm
  • Would you like me to send you a desk or wall Calendar?
    www.mississauga4sale.com/Calendar-Order-Form.htm
 

First time in Toronto the Average Detached Sold Price above $1 million dollars

Hello from Beautiful Mississauga!

This is breaking news: First time in Toronto the Average Detached Sold Price above $1 million dollars!

This is for detached homes in Toronto, not the GTA, but this represents a milestone in the Toronto Real Estate Market

See the full press release below.

Please refer to this page to see a graph of Average prices and More

All the Best!
Mark



TORONTO, March 4, 2015 – Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 6,338 home sales through the TorontoMLS system in February 2015.

This result represented a substantial 11.3 per cent year-over-year increase compared to February 2014. Large annual increases in transactions were noted for most major home types, in the City of Toronto and surrounding GTA regions.

“Even with the record low temperatures last month, we still saw an increase in the number of people purchasing homes in the GTA. This speaks to the importance households place on home ownership and the fact that buyers continue to view ownership housing as a quality long-term investment in which they can live,” said Mr. Etherington.

The overall supply of homes for sale, as measured by the count of active listings at the end of February 2015, was down by 8.7 per cent compared to the same count in February 2014. This means that market conditions became tighter, leading to more competition between buyers.

The overall average selling price for February 2015 home sales was $596,163 – up by 7.8 per cent compared to the average for February 2014. Driving this increase was the detached market segment.

In the City of Toronto, the average detached selling price moved above $1 million dollars for the first time in a calendar month.

“The strong year-over-year price growth we experienced in February points to the robust demand for ownership housing in the GTA, coupled with a constrained supply of homes for sale in some market segments, especially where low-rise home types like singles, semis and townhouses are concerned,” said Jason Mercer, TREB’s Director 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.comMississauga4Sale.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 Foreclosureswww.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 patternswww.mississauga4sale.com/TREBprice.htm
  • Would you like me to send you a desk or wall Calendar?
    www.mississauga4sale.com/Calendar-Order-Form.htm
 

Monday, March 02, 2015

When is the best time to sell your home in the GTA?

Hello,

I just read this article below that was sent to me by a client.

It contains great information about when to sell your home.

I've written about this in the past and you can read my thoughts about this subject at this link:


Enjoy!
Mark

Like everything in life, there are always exceptions to the rules.


Personally, I like these exceptions, as nothing is predictable – especially selling a house.

Still, it's good to know the basics, do your homework and factor in the required timelines.

Statistics show that spring is the best time to sell a house. You may read conflicting reports that will say March to May, or they may lump in April and July in to those calculations. However, with the recent real estate climate in the GTA, there really isn't a bad time. What you're selling can influence the time of year you choose to sell.

If you're listing a resale home, in order to buy a new home, you have to realistically factor in the closing date and, perhaps, add-on a bit of wiggle room. If you're listing a condominium or have to give the appropriate two-month notice to a landlord, you may not have to worry about the time of year as it relates to children starting school- unless the children are yours.

Starting a new school year at the beginning of September, and ensuring that kids can finish up the year at their old school, is one of the most important concerns for parents of school-age children. In this scenario, the family would prefer to move during the summer months, so count back and consider the following.

If your home is located in a family-friendly area, close to schools, shopping, etc., a new family will want to relocate during July or August.

Count back three months, as most offers ask for a 90-day closing. With this in mind, you'll want to have signed a deal by April. Again, if you're situated in the GTA, chances are that your home won't be on the market for long. But if you live in a rural area, or have a character property that’s quite different from the norm, you'll need to build in more selling time.

There are some advantages to listing your house earlier in the calendar year, rather than waiting for spring. Because the summer scenario is so popular, most people list their homes around April, which means there’s more competition. If you list your home in February, you may have other advantages.

During the winter months there's a lower supply of houses on the market. Also, maintaining your property requires less work on the outside at this time of year, since you don't have to tend gardens and keep the grass cut. Many of my clients have experienced a successful rate of return when they list in February.

Those people who are looking to buy in September or October may be looking for a better deal after the peak months have passed. Some agents will tell you that your house will sell quicker and closer to the asking price, if you list between Halloween and the New-year.

Homes look their best in the late summer and early fall. Gardens are mature, lawns (depending upon the weather) may be lush, and with a hint of autumn tingeing the air and the leaves, fireplaces can be lit and the ambiance created by indoor, and outdoor, lighting - all help to enhance the curbside appeal. Still, there are no hard and fast rules.

If you're selling and buying, it's always a juggle, so try not to have all your balls in the air at once.

Have a plan, and choose the timing that's right for you and your family.


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.comMississauga4Sale.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 Foreclosureswww.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 patternswww.mississauga4sale.com/TREBprice.htm
  • Would you like me to send you a desk or wall Calendar?
    www.mississauga4sale.com/Calendar-Order-Form.htm