Showing posts with label first-time-buyers. Show all posts
Showing posts with label first-time-buyers. Show all posts

Wednesday, June 01, 2022

Bank of Canada increases prime rate 0.5% on June 1, 2022 Prime now 1.5%

The Bank of Canada raised its key interest rate by half a percentage point to 1.5% on Wednesday June 1, 2022

Bank Prime lending rates are now 3.7%

It's the 3rd half-point hike this calendar year in an attempt to slow our soaring inflation. 


This is a great article about the future of real estate in the GTA and how interest rates may be one of the factors that affect the 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

Monday, March 07, 2022

The Bank of Canada increased the prime rate by 1/4% in March 2022 and now is 0.50%

The Bank of Canada increased the prime rate by 1/4% in March 2022 and now is 0.50%

The Bank Prime rate for most lenders now stands at 2.70%  

This is the first change in the prime rate since April of 2020


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: Info@mississauga4sale.com
Website: Mississauga4Sale.com

Monday, September 03, 2018

Bank of Canada Raised the prime lending rate to 1.5% on July 12, 2018

As of July 12, 2018 the Bank of Canada Raised the prime lending rate to 1.5%

The major banks and lenders in Canada soon followed and increased their prime rate charged to their customers by 25 basis points to 3.70 per cent from 3.45 per cent, effective July 12, 2018



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


Saturday, June 06, 2015

Graph of the Latest Real Estate prices in Toronto and GTA

Hello from Beautiful Mississauga!

See the latest news at this page:




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


Thursday, October 23, 2014

Location, Location, Location what does it mean when purchasing real estate?

You will find the information very helpful when you are purchasing your real estate

You have heard about the importance of location, but what really does that mean?  The article below will explain what location, location, location in real estate is all about.

Enjoy,
Mark

Location, Location, Location

You've probably heard this adage many times, but what does it mean?

Location of the property you are contemplating to purchase is one of the most important aspects of consideration when establishing the value of a property.  

For example, two identical homes can be priced and valued very far apart the only difference in many cases is the location of each home.  How can this be?

The following information about location would affect both how much you pay for a home and subsequent resale value of the home, so buyer beware of these items.


  • Distance to work. How long will the rush hour commute take? House prices generally decrease as the distance for the hub-of-activity increases.
  • Recreational facilities. Parks. playgrounds, baseball diamonds, community centres, arenas, swimming pools and soccer fields help establish ambience and a community-based neighbourhood.
  • Schools. Which schools service an area is often a high priority.
  • Shopping. Large malls serve an entire community. Intermediate sized plazas are accessed by commuters and pedestrians.
  • Support services. Everyone needs a doctor. dentist and a pharmacy. Day care cent res and religious facilities also rank high.
  • Transportation. Public transit and mature road networks are more readily available in built up and established area. Projected start dates for transit routes or road construction are only educated guesses.
  • Lot size. Street frontage is important but don't overlook depth.
  • Parking and garage.
  • Corner lots. To avoid creating a tunnel like appearance, corner lots are wider than normal, meaning more grass to cut, more sidewalk to clear of snow and ice, more fencing to erect without a neighbour to share the cost.
  • Side of the street. Homes on the west side receive morning sun at the front and afternoon sun in the back. South side homes bask in the sun at the rear, ideal for backyard enthusiasts.
  • Other factors. What street hardware (sidewalk, fire hydrant, overhead street lamp, traffic signs, hydro transformer box, super mailbox, etc.) is located on or near the lot?


Potential deterrents

Negative factors can include gas stations. railways tracks, airports, commercial developments, cemeteries, industrial parks and major highways.

Positive attributes in close proximity can sometimes become drawbacks. For example being near a school is important but would you want a school next door or across the street?

Other considerations

After narrowing your choice of community and neighbourhood, focus on these factors:

I hope these points help you with your next purchase.

 I wish you all the best with your purchase,
Mark

Friday, April 11, 2014

5 year closed mortgage or 5 year open, what's best?

Question and answer from an avid blog reader of mine.
 
Hi Mark,
 
I have been researching real estate and mortgages. Found your site and its is very informative.
In your professional opinion is 5 yr. closed mortgage better over 5 yr closed variable ?
 
It seems that banks are pushing for closed variable, why is that. I was offered a 2.7% 5 yr closed variables, after I requested a closed at 3.49%.
After some persuading I took closed variables, did I make mistake? My renewal is in June.
Your input an help will be appreciated
Best regards,
S.
 
Hi S.,
 
Thanks for your kind comments, glad you have found it helpful.
 
There is no simple or quick answer to your question.  It's completely up to your personal risk tolerance.  If you took closed variable at 2.7 this rate will likely stay about where it is for many months and possibly a year or more.  What bank are you with?
 
If you chose the 5 year variable rate, doesn't that mean you are locked in with lender and your rate will fluctuate based upon the prime rate?  If this is the case and prime stays at 3% for at least another year or possibly longer, your rate will remain fixed at 2.7%  You are .3% less than prime, so this is a reasonable discount.  When you say renewal in June, do you mean that's when you can lock in at a fixed mortgage rate?  2.7% is a reasonable rate for a 5 year variable.
 
Mortgage rates are very competitive these days and the banks are slashing rates to get your business. 
 
BMO announced today that the 5yr fixed rates just dropped to 2.99%
 
I too agonized over a renewal for our mortgage last month and was pushing for an additional .1% off the rate.  After TD agreed to the final discount, I did the calculation and it made a difference of less than $2 per month on our payments, so it was minimal.  Depending upon the size of your mortgage, small discounts in the rate have little effect on your payment.
 
The most important aspect of mortgage payments, in my opinion, is to make sure your payments are accelerated bi-weekly.  This is most critical and will allow you to pay off a 25year mortgage in less than 18 years, you save huge on interest and can start saving for retirement 7+ years sooner than you otherwise would have been able to.
 
I hope this helps.
 
Please let me know if you have more questions.
 
Thank you,
Mark
 

Thursday, April 10, 2014

Investment property purchase and rental considerations

It is great to hear that you have decided to become active in the rental investment market.

First you need to decide if you want a single family residential or a multi-residential.

In a single family residential you are likely to break even on monthly cash flow (all your expenses - mortgage, property tax etc) paid but you will not make cash flow. The money here is made on resale value and equity that the tenant pays into your home.

I would consider the best investment for this type a townhouse - they are low maintenance and easy to rent. If this is your decision, let me know and I will narrow down some good options to send.

In a multi-residential, resale value increase is not as high (depending on area) unless you somehow increase the profit of the operation (renovate to create higher rents, add in coin-op washer and dryers, implement paid parking, etc). These are great to create monthly cash flow and can often be fully paid off within ten years if you put 100% of the rents into your mortgage payments; which would leave you with net incomes ranging from $30,000-$100,000, depending what and where you invest.

The value of these are based on CAP rates. Places like Toronto and Port Credit in Mississauga will have a lower cap rate, around 3-6% max; as the resale is higher. Places like Hamilton and Brampton have lower resales, but are very hot rental markets with cap rates ranging into the 8-11% range.

Hamilton is a good area right now for investment property for a multi-res. It is the number one investment spot in Ontario for multi-family and due to low income, renters are very active.

If you want 20% or less down, we would need to stick with 5 units or under ( I believe most banks are 4 and under, but either RBC or CIBC is 5 and under

Once you review the above information to help you decide which investment strategy you would like to pursue and then we can go from there into more detailed info.

All the best!
Mark

Tuesday, March 11, 2014

CMHC Premiums for home purchase will rise as of May 1

Hello!
 
Part of my job as your realtor is to keep you informed and help you make the best decisions for yourself.
 
Of course, saving money is paramount, so….
 
I wanted you to know about changes that will make it more expensive for anyone buying a home with less than 20% down payment.
In Canada, lenders typically require Buyers with less than a 20% downpayment to pay for mortgage insurance, offered by the Canada Mortgage and Housing Corporation (CMHC).  
The size of the premium is calculated as a percentage of the mortgage and based on the amount of the downpayment - the higher the downpayment, the lower the premium.
On Friday February 28th, CMHC announced that they are increasing CMHC premiums as of May 1st, 2014.
Since most people add the cost of CMHC insurance to their mortgage and pay it over 25 years, the net impact of this increase is estimated to be $5 a month for the average Buyer, however it is important to look at the real-dollar impact of the CMHC increase:
  • For a $250,000 mortgage, a Buyer with 5% down will now be paying an additional $1,000.
  • For a $450,000 mortgage, a Buyer with 5% down will now be paying an additional $$1,800.
  • For a $250,000 mortgage, a Buyer with 15% down will be paying an additional $125.
If you like math, here's the formula for how CMHC Insurance premiums are calculated:

What the Premium Increase Means to the Average Toronto Buyer:

  • The higher your downpayment, the less CMHC insurance premium you will have to pay.
  • To avoid the increased fee, make sure that your lender submits a request for CMHC insurance for you prior to May 1, 2014.
  • The closing date on your new home is irrelevant, but you'll need to have an Agreement of Purchase and Sale in place and have your mortgage in process by May 1, 2014.
What am I really saying?  If you have a 5% downpayment and want to save a couple of thousand dollars, buy a home before May 1st. 
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, January 07, 2013

What are Special Assessments on condominium properties?

What are Special Assessments on condominium properties?

A special assessment is an additional payment or a levy that a condo board  has to impose when unexpected shortfalls or unexpected expenditures occur in  the budget, or when an expensive system has to be replaced (i.e., windows,  mechanicals) and there is not enough money in the reserve fund to cover for  it.

Special assessments often occur in condos that were built before 2001, when  reserve fund studies were not mandated by the previous Condo Act. As a  result, developers and boards failed to build up sufficient  reserve funds  for future replacements.

The fact that the owners have paid this already means that you will not have  to assume the additional payments when purchasing this condo, which is  great.

Buying a condo townhome is the same risk as buying a condo apartment -  anytime you buy a condo you are becoming responsible for the debt of the  condo (shared with the other owners). Condo townhomes are less likely to  have special assessments as there are not as many expenses due to less  amenities in the building.

As an agent, we ensure to request a status certificate that your lawyer  would review to make sure the  reserve fund of the condo is in good standing and has sufficient money.

As for the increase in condo fees, they usually increase each year, but the amount varies and it is stated in the status certificate for each particular building. It is usually a small amount (under $20.00) but again, each
situation varies.

If you have any further questions or would like to view this condo please let me know.

Thank you!
Mark Argentino
Mississauga Real Estate

Monday, March 19, 2012

Is it time to lock in your mortgage rate?

I was asked by Harry

"Hi Mark,

Hope all is well.

I have been on variable rate since I spoke with you last. I have an opportunity to lock in my mortgages at 2.99% for 4 years. Is it a wise move under today's conditions?

Thanks in advance.
Harry"

Hello Harry,

Yes, I saw this rate and blogged about it last week! Not sure if you saw it or not:

Long term mortgage rates

It's a judgment call on your part, there are some severe restrictions that you must be aware of. There are discounts on these 'posted' rates, so ask for a discount.

We may find that the variable rates drop again to prime minus, maybe they will go to prime minus .9% again and that's 2.1% and you may regret the 2.99%

Funny thing is, when rates were 10 to 14% for about 15 years in the late 80's to early 2000's you would have jumped at 2.99% and thought you won the lottery.

Our mortgages are all variable, prime minus, so I'm still staying where we are for at least the next 6 to 12 months or most likely longer.

Again, it's how much risk you are willing to take.

I wish you the best and let me know what you decide!
Mark

Tuesday, February 07, 2012

Basement Apartments are now legal in Ontario due to Bill 140

Another huge change in Ontario that was just announced is in Bill 140 which has one change in housing.

From now onwards, if a property meets building code and Fire Safety standards, you can legalize any second dwelling in a single family home.

This means that basement apartments have become legal again and this will allow many people who can't afford to purchase a home to get into the market because they can earn income from a basement apartment, legally.

This means the banks will give a mortgage partly based upon current or expected income from the basement apartment and this means that demand will increase and prices will likely follow!


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, April 21, 2011

Lunacy - Is the Real Estate market heated up in Mississauga?

Currently, Real estate sales in Mississauga are very heated

Daniel's is opening their phase 3 stacked townhome complex at Winston Churchill and Eglinton. I've been told that people began lining up on Monday April 18th for a chance to purchase one of these new townhomes.

There are many similar type stacked townhomes currently on the resale market, but these are for brand new units.

These units don't go on sale until Saturday morning May 5th, so people will be standing in line almost 3 weeks and will begin living in a tent for about 2 weeks starting April 25th for the opportunity to buy a townhouse - lunacy!


Or maybe I'm wrong and standing in line for 2 to 3 weeks is the norm.

All the best!
Mark


PS: Are you worried about what option you should choose for your mortgage, read which is best here:
http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm

Sunday, March 06, 2011

Latest Economic News from TD Canada Trust

Hello, I thought you might find this an interesting read from TD's
perspective on the economy.
Enjoy!
Mark

March 1, 2011

Data Release: Tax Cuts Boost Personal Income in January, But Spending
Disappoints

* Personal income bettered market expectations in January jumping 1.0%,
driven largely by payroll tax cuts.

Personal disposable income (PDI) was up 0.7% on the month; however, were it
not for the impact of the tax

changes PDI growth would have been up only a scant 0.1%, after a 0.4% gain
in December.

* Personal consumption expenditures disappointed markets, posting only a
0.2% increase in January. That muted

spending growth pushed the savings rate up a few ticks to 5.8%. The savings
rate had averaged 5.4% in the fourth

quarter of last year.

* Spending was even softer in real terms, down 0.1% on the month - the first
contraction since last April. That

reflected real declines in nondurables (-0.2%) and services (-0.1%), with
spending on durables managing to

register a 0.3% gain.

* Inflation as measured by the personal consumption deflator rose to 1.2%
unchanged from December, while core

PCE inflation (ex food & energy) is running at a 0.8% pace year-on-year, the
same reading for four months now.

Key Implications

* Today's disappointing showing for real consumer spending means that we
will likely have to revise down our target

for first quarter consumer spending. We see consumer spending posting a
closer to 2.5% pace in Q1, down from

our previous expectations of 2.9%. And in turn will likely result in
slightly lower real GDP growth than we had been

expecting for Q1.

* That said, the US saw some pretty significant storms in January, and we
could see a comeback in the months

ahead, particularly given the healthy headline income gain, although not
soon enough to save real spending in Q1.

* January's poor spending performance also stands in stark contrast to the
more positive mood consumers have

been reporting in recent confidence surveys, suggesting that the healthy
income gains should lead to decent

consumer spending growth in 2011. Friday's payrolls reading for February
will be eagerly awaited to see if jobs

growth will pick up to further underpin sustained spending growth ahead.

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

Thursday, January 20, 2011

TREB Real Estate comparison of average and median prices since 2000

Bar graph showing the TREB Real Estate comparison of average and median prices since 2000


Toronto Real Estate Board (TREB) Average Prices and GraphFor more information please contact A. Mark ArgentinoA. Mark Argentino, Broker, P.Eng.,Specializing in Residential & Investment Real EstateRE/MAX Realty Specialists Inc., Brokerage2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1BUS. 905-828-3434FAX. 905-828-2829E-MAIL: mark@mississauga4sale.comWebsite: Mississauga4Sale.com

Thursday, September 23, 2010

TD Canada Trust Economic News comments

This is the latest news from TD Canada Trust


Provincial Retail Monitor


September 22, 2010

HIGHLIGHTS

* Canadian retail sales retreated by 0.1 per cent in July relative to a
month prior. This is in stark contrast with analyst expectations calling for
a M/M gain of 0.6 per cent.

July's performance comes on the heels of a slightly downwardly revised
growth of 0.0 per cent in June (from an initial estimate of 0.1 per cent).

* The weakness was not broad-based at the regional level, with 3 provinces,
namely British Columbia, Ontario and Nova Scotia, reporting declining sales.
The implementation

of the Harmonized Sales Tax (HST) in the former two provinces on July 1st
2010 as well as the 2 percentage point increase in the prevailing HST regime
in the latter province in

July served as major impediments to growth in retail sales.

* Nova Scotia recorded the largest decline at 5.3 per cent. This performance
follows the largest M/M gain recorded in June at 3.3 per cent. British
Columbia and Ontario

experienced M/M declines in sales of 0.4 and 0.3 per cent, respectively in
July.

* On the flipside, Canadian sales excluding British Columbia, Ontario and
Nova Scotia increased by 0.5 per cent. The most significant gain in sales
was observed in Manitoba

at 1.6 per cent, representing this province's third consecutive increase in
the indicator. Quebec experienced a gain in sales of 0.5 per cent after a
string of three consecutive

monthly decreases.

* Relative to July 2009, above-national gains in retail sales were recorded
in the provinces of British Columbia, Alberta and Manitoba. Sales gains in
British Columbia and Alberta come, however, on the heels of earlier
weakness. Sales remain 2.9 per cent and 8.6 per cent, respectively below the
level reached in September 2008 (i.e. the month during which retail sales
peaked at the national level).

* The regional concentration of retail sales declines suggests that HST
played an outsized role in this indicator's performance in July. Data for
provinces not impacted by the implementation or increase in the HST point a
better picture for retail sales at the onset of Q3.

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, September 08, 2010

HST and Real Estate

This article below explains HST for real estate transactions in great detail and I thought you would find it of interest.
All the best!
Mark

September 2010

THE HST AND ITS AFFECT ON ONTARIO REAL ESTATE TRANSACTIONS

The Harmonized Sales Tax (HST) came into effect on July 1, 2010 and as I am sure everyone knows, replaces the federal goods and services tax (GST) and the provincial sales tax (PST). The good news from a real estate perspective is that the sale of used residential property (i.e. your home), which was exempt previously from both GST and PST, is also exempt from HST. The bad news is that a number of other services associated with or incidental to real estate transactions are now subject to the 13% HST whereas before they were only subject to the 5% GST. These services include realtor`s commission, legal fees, moving fees and home inspection fees.

The rules for new homes are little more complicated. However an Agreement for the purchase of new home which was signed before June 18, 2009 will not be subject for HST even if the transaction closes after July 1, 2010. A purchaser may also be entitled to receive a transitional rebate of part of the 8% provincial component of the HST where the construction of the home straddles the July 1, 2010 implementation date. For new homes where less than 10% of the house was complete before July 1, 2010, there will be a rebate available equal to 36% of the federal component of the HST and 75% of the provincial component of the HST. However the rebate of the provincial component of the HST is only available for the first $400,000.00 of the purchase price. If you are paying more than this, there will be no rebate on the amount of the purchase price which exceeds $400,000.00.

Typically new homes in Ontario were priced with the GST included. The builder would pay the GST on closing. The purchaser would assign the right to receive the rebate to the builder in the Agreement of Purchase and Sale. It is unclear whether this practice will continue under the HST regime especially for homes valued at more than $400,000.00. As such you should make sure that the price you agree to pay does include the HST. If not, tax of 13% will be added on closing and you will have to apply to receive the rebate from each of the federal and provincial governments. In addition there will be no rebate available for the provincial component of the tax payable on the portion of the purchase price exceeding $400,000.00.

Commercial real estate will be subject to HST. However provided the purchaser and seller are HST registrants, the purchaser will be able to claim the HST paid as an input tax credit. As such it is very important that the Agreement of Purchase and Sale addresses this issue.

Residential lease payments were exempt from GST and remain exempt from HST. Commercial rental payments however will be subject to the full 13% HST, and the payer will be entitled to claim an input tax credit for the full amount of the payment.

No matter how you look at it, the HST is another flagrant tax grab for the already highly taxed Canadian consumer. Because it is an end-user tax, businesses will now be able to claim the provincial portion of the HST on goods they buy in the course of carrying on their business as an input tax credit whereas before PST could not be recovered unless a business qualified for a specific exemption. It remains to be seen however how much of the increased cost of an Ontario real estate transaction can be passed on to consumers. It is a safe bet that the slowing of the real estate market since the HST came into effect is not a coincidence. Courtesy of Michael Woods

Any questions, please let me know, thank you, Mark

Friday, May 21, 2010

GTA residential real estate breakdown of detached, semi detached, townhomes, condos etc and their percentage of the market sales

Pie chart showing the breakdown of detached, semi detached, townhomes, condos etc and their percentage of the market sales




Toronto Real Estate Board (TREB) Average Prices and GraphFor more information please contact A. Mark ArgentinoA. Mark Argentino, Broker, P.Eng.,Specializing in Residential & Investment Real EstateRE/MAX Realty Specialists Inc., Brokerage2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1BUS. 905-828-3434FAX. 905-828-2829E-MAIL: mark@mississauga4sale.comWebsite: Mississauga4Sale.com

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.

Friday, February 12, 2010

Comparison of Toronto versus GTA average January sales and prices

This graph shows the average prices and number of sales for the City of Toronto and the GTA and clearly shows that prices in the 416 area are significantly higher than the surrounding 905 regions in the GTA. There are more sales in the 905 area compared to Toronto, this makes intuitive sense since the 905 area is far larger than the city of Toronto


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, December 13, 2009

RBC reports that Canadian Investors still have the jitters

RBC reports that Canadian Investors still have the jitters

RBC reports that investors in Canada still have the jitters. I am one of those, moved all of our rsp's out of the markets into a market linked GIC, now we are guananteed to get our money back in the event that the markets tank and we will get 40% of any improvement in the markets. I guess I'm just getting too close to retirement to take chances with my rsp's
Mark

Investors still have the jitters

Investors appear to be buying into the thesis that the global recession is a thing of the past.

However, they remain very cautious because the economic rebound is proving to be less vigorous than previous recoveries. Any dose of poor financial market news invariably leads investors to scale back their risk positions. As a result, global government bond markets continue to perform well.

Yields on short-term U.S. Treasury bonds stand near record lows, while 10-year rates have fallen back after rising this summer. This pattern was mirrored in the other major markets that we monitor, with central banks expected to hold policy rates low until a durable economic recovery is under way.

We expect rates will remain at extraordinarily low levels for the first half of 2010 and then gradually increase as central banks begin the long process of returning monetary policy to a neutral stance.

I hope this finds you Happy and Healthy!

All the Best!

Mark

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


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