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

Opportunities Exist with short term mortgages

See the graph below.  The wider the gap between the 1 year mortgage interest rate and the 5 year
rate the more opportunity there is to save money!

You may wish to consider choosing a short term variable rate for your mortgage for at
least the next while since the current gap is quite large.

All the best!
Mark

For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,

Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc., Brokerage

2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1
BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com

Real Estate fluctuations Cyclical and Seasonal Price Trends and Graphs in Toronto and Mississauga

Question from a reader:
One question regarding the cyclical pricing.. it looks from your graph http://www.mississauga4sale.com/avgprice1995todate.jpg that the peak is typically in the April or May months. Can you tell me whether that represents closing date, conditional sale date, listing date or something else? Trying to strategize our sale timing since we're a bit flexible.

Answer:

The peak of the market price is typically between the months of April and May of each year. This represents the sale price reported on TREB for that particular month. It does not account for conditional sales or the closing date, only the firm sale price that occurred during that particular month.

If, for example, a conditional sale was put together on April 5 and firmed up April 12th, the sale price would go towards April average.

 If a conditional sale was put together on April 25 and firmed up May 3rd, the sale price would go towards May average.

Best time to list is typically a week or two after the March break, then it takes 1-3 weeks to sell and you would sell at or near maximum and close typically about 3 months later. Most people like to close end of June or end of July due to children finishing school, and since most closings are between 60-90 days, this is another major reason that contributes to the March, April and May peak selling period.

Beware of the current cycle and where we currently are:

http://www.mississauga4sale.com/Market-Emotions-Cycle.htm

See more at:

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

Please let me know if you have other questions.

Thank you,

Mark

GTA and Mississauga real estate market Toronto Real Estate Board for sale figures from last month

Hello from Beautiful Mississauga!

 

Below is the latest report from the Toronto Real Estate Board for sale figures from last month

 

Summary:

 

• prices in February 2014 were up 8.6% to $553,193 compared to same month last year
• volume of sales were up 2.1% compared to the same period last year

 

See the full report below and more figures and graphs at this page of my site:

 

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

 

All the best!
Mark

 

 

 

GREATER TORONTO REALTORS® REPORT LATEST MONTLY RESALE HOUSING MARKET FIGURES

 

TORONTO, March 5, 2014 – Toronto Real Estate Board President Dianne Usher announced that February 2014 home sales reported by Greater Toronto Area REALTORS® were up by 2.1 per cent compared to the same period last year. Total February sales amounted to 5,731 compared to 5,613 last year.

 

“Despite the continuation of inclement weather in February, we did see a moderate uptick in sales activity last month. The sales increase was largely driven by resale condominium apartments. New listings of resale condominium apartments were up on a year-over-year basis, giving buyers ample choice. This is in contrast to the listings situation for singles, semis and townhomes, where supply continued to be constrained. Some would-be buyers had difficulty finding a home that met their needs,” said Ms. Usher.

 

“If we see renewed growth in listings for low-rise home types, the pace of sales growth will accelerate as we move through the year,” Ms. Usher continued.

 

The average selling price for February 2014 sales was up by 8.6 per cent to $553,193, compared to the average of $509,396 reported for February 2013. The MLS® Home Price Index (HPI) Composite Benchmark was up by 7.3 per cent year-over-year.

 

“While the strong price growth experienced over the last year should prompt an improvement in the supply of listings, sellers’ market conditions will continue to prevail this year. Home prices, on average, will trend upwards at a pace well-above the rate of inflation. The impact of strong price growth on affordability will be mitigated by low borrowing costs,” 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.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

 

 

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

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

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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Basement Apartments in Mississauga ADU's will be legally licensed starting January 1, 2014

Basement Apartments will be legal in Mississauga shortly.

Secondary Units Licensing Program Bylaw Effective January 1, 2014

City Council approved a bylaw on September 18 to license second units in Mississauga. The bylaw will be effective on January 1, 2014~ Ontario laws now require municipalities to allow second units in homes. These units are also known as basement apartments, in-law suites and secondary units .

Starting January 15t,a City licence is required for second unit in Mississauga to be legal. A unit will only be licensed if it complies with Official Plan zoning regulations, as well as Ontario fire and building code requirements.

The City held public meetings in 2012 to gather the public's thoughts and ideas about how second units should be permit them in Mississauga.

Comments were also received by email and through an online survey. A statutory public meeting required by the Planning Act was held in early 2013.

The City's Second Unit Implementation Strategy is part of Housing Choices: Mississauga's Affordable Housing Stragey. The City's goals for legalizing second units included ensuring safety, preserving neighbourhood character and maintaining public services.

See the article below too.

Read more at mississauga.ca






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

Housing Choices -- Second Unit Information

Recent changes to provincial legislation require all municipalities in
Ontario to permit second units.

Second units are self-contained units in single-family homes. They are often
called basement apartments or in-law suites.

Second units can expand housing opportunities within established communities
and provide much needed safe, healthy, housing choices. They can offer
accommodation for people with affordability issues such as youth, older
adults and new immigrants. They can also provide additional income for young
couples looking to buy their first home or older adults wanting to stay in
their neighbourhood

Bank of Canada Interest Rate - latest announcement

As of November 30, 2013 the Bank Prime remains at 1%

Typical lending rates for the public is Bank Prime Rate which is 3%

see current best interest rates

This is an excerpt from the latest announcement from the Bank of Canada

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.
The global economy is expected to expand modestly in 2013, although its near-term dynamic has changed and the composition of growth is now slightly less favourable for Canada. The U.S. economy is softer than expected but as fiscal headwinds dissipate and household deleveraging ends, growth should accelerate through 2014 and 2015. The nascent recovery in Europe, while modest, has surprised on the upside. China’s economy is showing renewed momentum, while growth in a number of other emerging market economies has slowed as their financial conditions have tightened. Overall, the global economy is projected to grow by 2.8 per cent in 2013 and accelerate to 3.4 per cent in 2014 and 3.6 per cent in 2015.
In Canada, uncertain global and domestic economic conditions are delaying the pick-up in exports and business investment, leaving the level of economic activity lower than the Bank had been expecting. While household spending remains solid, slower growth of household credit and higher mortgage interest rates point to a gradual unwinding of household imbalances. The Bank expects that a better balance between domestic and foreign demand will be achieved over time and that growth will become more self-sustaining. Real GDP growth is projected to increase from 1.6 per cent in 2013 to 2.3 per cent in 2014 and 2.6 per cent in 2015. The Bank expects that the economy will return gradually to full production capacity, around the end of 2015.

read more: http://www.bankofcanada.ca/monetary-policy-introduction/key-interest-rate/schedule/



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

Real estate Investment Strategies & Thoughts in Mississauga and surrounding areas

There are many different methods to invest in real estate in the Mississauga and surrounding areas.

Let's look at investing in real estate rental properties.

I am ruling out the option of a flip. With this out of the picture you would be looking at a rental property.

The options below are as follows:

1. You can buy a property for short term investment where the resale is very good so you will get maximum return when you resell in 4 years. Best bet is probably a town home in Churchill Meadows or Erin Mills of Mississauga or near Square One. These are great rentals as well!

2. You can purchase a maintenance free condo. For this I would recommend one Mississauga, Mimico or Toronto. For new-5yr old condos in Square one and Mimico - the rent would depend on the unit and area, but for an idea, sq one 1 beds go around 1350-1400 per month and 2 bedrooms $1600+.

3. You can buy a home in a high rental area, such as Mississauga or Brampton, where it is split into two units (ie: upper and basement) rented separately and get maximum rent and make a monthly profit.

Email me and I'll send you a list of Properties of Interest for you to view in this style

(As you will not make a profit on the above 2 options - you will just break even)

With a down payment of $90,000 you are looking to purchase in the $400k or below range.

The area is dependent on which of the investment goals you choose to purchase in as for

(1) you need a high resale area like certain Mississauga pockets,

(2) would be good by square one or downtown (although the downtown condo market is pretty saturated right now and prices are decreasing - great to buy but risky cause it is unknown if they will inflate again), and

(3) would be best in Brampton. I personally am not a fan of "student" rentals as the turnover is frequent and the wear and tear is sometimes high.

Please let me know if you have other questions or need more information.

Thank you,
Mark 

BIG DECISIONS when buying a home in Mississauga Real Estate

BIG DECISIONS

In life one of the most important decisions we ever make is about buying or selling your home.

It's a big step that's filled with excitement and anxiety.

You want to be sure that the choices you make are the right ones. That's where we make all the difference - a professional with the insight and experience to help make the most of your options.

When it comes to life's big decisions it's reassuring to have an expert on your side
Please send me an email if you are interested in "teaming up"

Mark









For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1
BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com

Bank of Canada Interest Rate announcement March 6, 2013

The Bank of Canada just announced they are keeping the prime rate at 1% meaning that the prime lending rate stays at 3%

This is historic news, this is the longest stretch that the Bank of Canada has kept it's rate this low.  It's been at 1% since the fall of 2010!

Read more at this link

See current rates at this link

Full aannouncement is below




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.




The global economic outlook is broadly consistent with the Bank’s projection in its January Monetary Policy Report (MPR). Global financial conditions remain stimulative, despite recent volatility. In the United States, the economic expansion is continuing at a gradual pace and private sector demand is gaining momentum. Fiscal drag in the United States over the next two years remains consistent with the Bank’s January projection, although it is likely to be more front-loaded as a result of sequestration cuts. The recession in Europe continues. Growth in China has improved, while economic activity in some other major emerging economies is expected to benefit from policy stimulus. Commodity prices have remained at historically elevated levels, although persistent transportation bottlenecks are leading to continued discounts for Canadian heavy crude oil.



Canada’s economy grew by 0.6 per cent at annual rates in the fourth quarter of 2012, with solid growth across most domestic components of GDP offset by a sharp reduction in the pace of inventory investment. The Bank expects growth in Canada to pick up through 2013, supported by modest growth in household spending combined with a recovery in exports and solid business investment. With a more constructive evolution of imbalances in the household sector, residential investment is expected to decline further from historically high levels. The Bank expects trend growth in household credit to moderate further, with the debt-to-income ratio stabilizing near current levels. Despite the expected recovery in exports, they are likely to remain below their pre-recession peak until the second half of 2014 owing to restrained foreign demand and ongoing competitiveness challenges, including the persistent strength of the Canadian dollar.



Total CPI inflation has been somewhat more subdued than projected in the January MPR as a result of weaker core inflation and lower mortgage interest costs, which were only partially offset by higher gasoline prices. Low core inflation reflects muted price pressures across a wide range of goods and services, consistent with material excess capacity in the economy. Core and total CPI inflation are expected to remain low in the near term before rising gradually to reach 2 per cent over the projection horizon as the economy returns to full capacity and inflation expectations remain well-anchored.



Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate at 1 per cent. With continued slack in the Canadian economy, the muted outlook for inflation, and the more constructive evolution of imbalances in the household sector, the considerable monetary policy stimulus currently in place will likely remain appropriate for a period of time, after which some modest withdrawal will likely be required, consistent with achieving the 2 per cent inflation target.


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

The price of real estate depends upon.....

This is an interesting article

interest rates and mortgages:
http://www.theglobeandmail.com/report-on-business/economy/housing/higher-mor
tgage-rates-would-hit-households-hard-bmo/article4629849/?cmpid=rss1

What happened in 2008?
After the 2007 inflation?

What happened in 1988-1996?
After the 1970s stagflation?

And what will happen in the future?

Interest rates will stay low FOREVER and EVER?

Live long enough and find out.

The article states: "with signs the real estate market could now be turning
a corner after years of strong growth" and this is true, our market has been
soft since about Labour Day with no reason to rebound between now and
December, this indicates a downturn in prices, it's coming

The Fed's have a bid problem on their hands, with low rates people are
borrowing and increasing their debt but if they increased the bank rate it
would cause panic - what to do?!

I don't feel we are at the precipice of a giant slide in prices, more of a
small adjustment, maybe 10% drop or so and then a leveling out

As long as there are jobs and people are working, the economy should
survive, otherwise.......


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

New Mortgage Guidelines in Canada as per Finance Minister Jim Flaherty June 21 2012

Hello, This is a Summary of changes to mortgage guidelines as per Finance
Minister Jim Flaherty...(effective July 9th, 2012)



1) The maximum amortization period for purchases with less than a 20% down
payment will be 25 years (down from 30 years)

2) Home owners will only be able to refinance their homes up to 80% of the
home's value (down from 85%)

3) The government is also resetting the maximum Gross Debt Servicing ratio
(GDS) to 39% and the Total Debt Servicing ratio (TDS) to 44% (Currently, GDS
does not apply to qualified borrowers with credit scores of 680+) ***see
below for info GDS and TDS

4) Mortgage Insurance will no longer be available of homes over $1 million
(you will need to have at least 20% down payment)



OSFI (The Office of the Superintendent of Financial Institutions Canada is
the primary regulator and supervisor of federally regulated deposit-taking
institutions



Also announced the following changes...

1) The maximum loan to value on home equity lines of credit (HELOCs) is
cut to 65% from 80%

2) The loan to value will be re-calculated upon any refinancing and
whenever the lender deems prudent

3) HELOCs will continue to serve as revolving lines of credit with no
specific amortization period. However, OSFI says lenders must now expect
borrowers to have the ability to fully repay HELOCs over time.



Debt Ratios (GDS / TDS Ratios)

Lenders have long relied on two standard measures of one's "ability to pay"
their mortgage:



Gross Debt Service (GDS): The percentage of the borrower's income that is
needed to pay all required monthly housing costs (mortgage payments,
property taxes, heat and 50% of condo fees).



Total Debt Service (TDS): The percentage of the borrower's income that is
needed to cover housing costs (GDS) plus any other monthly obligations that
an individual has, such as credit card payments and car payments.

The acceptable ratios for both have generally been 32% and 40% respectively.

For people with very high credit scores, GDS requirements are often waived
and the TDS maximum is slightly higher (44% as of January 2011).

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

This is the latest Economic News from TD Canada Trust

Below is the latest report from TD Canada Trust with regards to the economy and decided to keep the federal funds interest rate unchanged at 0% to 0.25% until at least the end of 2014

This is good news if you are borrowing money over the next 2 years! See the press release below
Please let me know if you have any other questions or require further information.

Thank you,

Mark

Data Release: FOMC maintains the status quo, provides no sign of further
stimulus discussion

The Federal Open Market Committee decided today to keep the target range for
the federal funds rate unchanged at 0.0% to 0.25% at least through
late-2014. The Committee also decided to continue its program to extend the
average maturity of its holdings of securities - "operation twist".

Supporting their decision, FOMC members noted that, despite the recent
decline in the unemployment rate, unemployment remains high and they still
expect it to gradually decline towards levels consistent with the Fed's dual
mandate.

They also characterized the economic outlook as one of "moderate" economic
growth and "temporary" higher inflation caused by the recent spike in crude
oil and gasoline prices.

Moreover, committee members acknowledged the easing of global financial
markets strains, but reaffirmed their concern that those strains continue to
pose significant downside risks to the economic outlook.

Jeffrey Lacker once again expressed his disagreement with the after-meeting
communiqué. In particular, Mr. Lacker does not share the view that economic
conditions are likely to warrant exceptionally low levels of the federal
funds rate through late-2014.

Key Implications

At its previous meeting in late-January, FOMC members had decided to extend
the conditional commitment to low interest rates from mid-2013 to the
current late-2014 stated date. In addition, they had provided clarification
on how the FOMC interprets its dual mandate of price stability and maximum
employment. Lastly, to further enhance the Fed's communication strategy,
they had released interest rate projections from all committee participants.
Given this precedent, there was very little expectation heading into today's
meeting that the after-meeting communiqué would deliver anything more than
what it actually did.

Recently there has been some speculation about the possibility that the Fed
could engage in "sterilized" bond purchases as a way to keep a lid on
interest rates while avoiding a potential inflationary expansion in money
supply. The recent improvement in labor market data, combined with the rise
in gasoline prices observed since the FOMC last met certainly did not set
the ground for any mention of further monetary stimulus in today's
statement.

o see if that discussion actually occurred at today's meeting, we will have
to wait until the Fed releases the minutes on April 4th.

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

Donald Trump unveils new Trump Towers in Toronto Ontario Miss California would be proud!

This is the latest information about the Trump Towers in Toronto

on their website, they state "You have just arrived at an incredible new standard of luxurious living. You are met by an exquisitely designed stone, steel and glass façade that rises 60-stories above an impressively redefined Toronto skyline. The lobby doors open and the attentive and friendly five-star staff welcome you inside. A grand piano’s gentle melody transforms your state of mind."

The $500-million Trump tower is the first of three luxury hotel-condominium projects opening this year in Toronto, after The Ritz-Carlton opened last year. The Four Seasons Hotel and Private Residences and the 66-storey Shangri-La Toronto are also set to open this year.
Toronto’s rise of luxury hotel residences follows a record year for tourism, with more than 9 million hotel-room nights sold in 2011, according to Tourism Toronto. The industry association said the availability of luxury hotel options attracts “high-value visitors” to the city.


Luxury Hotel Condominiums & Residences in the Heart of Downtown Toronto
Trump International Hotel & Tower Toronto, Canada’s tallest residential building, opens Tuesday, capping a seven-year effort to bring the brand of billionaire Donald Trump to the country’s largest city.

Trump International Hotel & Tower® invites you to create your own unique oasis within the heart of this magnificent city. From its coveted vantage at the intersection of Bay and Adelaide, residents and guests will enjoy first class access to all Toronto has to offer.

Situated on the northwestern shore of Lake Ontario, Toronto boasts lush parks and historical neighborhoods. The financial hub of Canada, major banks, financial institutions and insurance companies all call Toronto home.

A true international, multi-cultural city, Toronto has earned global recognition as a leader in not just the financial world, but also the performing arts, museums, art galleries, international cuisine and a thriving nightlife scene. Culture cravers love it. International travelers feel welcome. The discerning identify with its sophistication. Business executives appreciate its efficiency.


other comments by buyers:
The tower’s distinctive design and unique spire of light soaring 277 metres up the side of the building into the sky where it inscribes a signature on the city’s skyline was another deal maker.

“Several of these kinds of towers have gone up in Toronto, but the colour and design of this one really appealed to us




Security and privacy are paramount.

Owners and their guests access via a separate entrance and are whisked to an exclusive residents-only lobby on the 32nd floor staffed by a full-time concierge.

Building setback allows for spectacular views from units with 11-foot ceilings and luxurious appointments where “no detail has been left to chance.”

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

Economy is humming in Canada, will it last?

This article below summarizes what has been happening in Canada recently and the outlook for the economy from the view point of TD Canada Trust They are optimistic on some points and pessimistic on others, enjoy the read! Mark

HOPE BOLSTERS MARKETS, BUT CAN IT LAST?

Highlights

• Financial market sentiment has proven far more upbeat than expected in early 2012, supported by reduced risks of a systemic banking crisis in Europe and better-than-anticipated U.S. economic data.

• This improved sentiment and market trends have led to an upward revision to our long-term govern­ment bond yield forecasts, with Canadian 10-year bond yield to reach 2.85% by year-end. We have also increased our near-term commodity price forecasts.

• Given all of the positive news factored into the current strength of the Canadian dollar, there is risk of a near-term pullback. Nevertheless, the loonie should trade broadly in a 5 cent range above and below parity over the medium term.

• The positive financial sentiment belies the continued risk-filled environment. We continue to see risks from the European fiscal crisis, the slowdown in emerging market economies, and now from high oil prices. Volatility is likely to increase in the coming months.

With two months of 2012 now under our belts, the mood on global financial markets is decidedly calmer than we had anticipated. The S&P/TSX has rallied so far this year, and measures of market volatility have returned to more normal levels (see chart). Markets seem far more confident that Eu­ropean leaders will be able to manage their sovereign debt crisis without triggering global contagion. Particularly, the European Central Bank's (ECB) first injection of liquidity to the banking sector back in December helped to dramatically ease liquidity pressures in the financial system. Expectations are high for the take-up on the next opportunity for financial institutions to tap cheap three-year loans from the ECB, on February 28th. Consensus expectations are for around €470 billion Euros of loans to be extended, which is just shy of the amount loaned in December. While the increased liquidity to the banking system is unquestion­ably positive, it does not address the fiscal challenges facing European governments.

Last week, leaders also managed to agree on a sec­ond bailout package for Greece, hopefully averting a disorderly default in March. Now Greece must solicit participation from private sector bond holders for a debt swap at less than half of the par value of current Greek bonds. Unfortunately, we suspect that the current bail out package will ultimately prove insufficient to put Greek debt on a sustainable path. The Greek economy is in a rapid downward spiral that will deeply impair fiscal improvement. So, while markets are calm for now, the Greece crisis is bound to cause renewed financial market volatility in the future.

U.S. economy: hope, with a side of caution

Apart from markets stepping back from the precipice of impeding euro-driven doom, the rally seen in equities also has its roots in the more upbeat U.S. economic data so far in 2012. Both businesses and consumer confidence has improved from the lows seen last fall. And greater optimism in manufacturing is being born out in the hard production data, which continues to grow at a steady pace. Durable goods orders also point to continued strength ahead and corporate balance sheets also remain very healthy.

Perhaps the best news is that U.S. job growth has been accelerating out of its mid-2011 soft patch. Maintaining the current pace of 200,000 new jobs per month is just what is needed to sustain spending growth and help repair household balance sheets. The other good news is that the housing market is showing some signs of improvement; existing home sales and housing starts are rising, and residential investment is starting to contribute to economic growth. Auto sales also got off to a very strong start to the year.

However, just as the European risks decline, a new threat in the form of rising oil prices is rearing its head once again. Resurgent gasoline prices are making it feel like 2011 all over again. Just when just as the U.S. seems to be picking up steam, rising gasoline prices – already above $4 per gallon in California – start to bite at consumers' purchasing power. Moreover, recent increases in crude prices suggest gasoline is headed higher in the coming weeks (see chart). Tensions surrounding Iran have built a large risk premium into the price of oil, and if crude prices come down somewhat (see forecast pages 3), consumers should get some relief. But considering rising gas prices have preceded every major U.S. economic slowdown in the past 40 years, it is a risk that bears close watching.

Bottom Line

So what does all this mean for our outlook for markets? With the ECB backstopping the European banking system with cheap liquidity, a lower chance now that Greece will imminently default on its debt, and a stronger economic picture emerging from the U.S., we no longer expect a third round of quantitative easing (QE3) by the Federal Reserve. That scenario is now a risk to our outlook in the event of a worse-case outcome in Europe, or more signs the U.S. growth is faltering.

That has led us to raise our forecasts for longer-dated bond yield forecasts both in the U.S. and Canada (see table page 3). However, unlike the U.S., there has been little to cheer about in the Canadian economic data of late. That has led us to raise our year-end Canadian bond yield targets relatively less than Treasuries. Rosier market sentiment has meant commodity prices have remained firmer, and oil prices continue to rise, so we have raised our near-term crude price target accordingly, but our longer-term targets unchanged.

Our forecast for the Canadian dollar, however, has remained unchanged. With the price of oil vulnerable to a giveback if geopolitical tensions don't play out as feared, and the potential for a deterioration in market sentiment if all does not go smoothly in Europe, we still see near-term weakness in the Canadian dollar (Strong Canadian Dollar Ahead, But Mind The Potholes). Moreover, removing QE3 from our base-case outlook is a plus for the U.S. dollar, and another headwind for the loonie. But beyond that we continue to expect relatively strong macroeconomic funda­mentals to support a Canadian dollar in a 5-cent range above or below parity with the U.S. dollar over the medium term.

While our pessimism of late 2011 has not been borne out, the changes to the forecast are generally positive, so they are ones we are happy to make. Now we all have to keep our fingers crossed that these new hopes aren't dashed by a continued spike in oil prices, renewed problems in Europe or a hard-landing by emerging market economies.

Bank of Canada interest rate announcement maintains overnight rate target at 1 per cent

The Bank of Canada is keeping the overnight internet rate fixed today at 1%

This is good news, the interests rates will remain steady for at least the next while!

See the full release below.
Mark

Bank of Canada maintains overnight rate target at 1 per cent

OTTAWA, Jan. 17, 2012 /CNW/ - 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.

The outlook for the global economy has deteriorated and uncertainty has increased since the Bank released its October Monetary Policy Report (MPR).

The sovereign debt crisis in Europe has intensified, conditions in international financial markets have tightened and risk aversion has risen.

The recession in Europe is now expected to be deeper and longer than the Bank had anticipated in October. The Bank continues to assume that European authorities will implement sufficient measures to contain the crisis, although this assumption is clearly subject to downside risks. In the United States, while the rebound in real GDP during the second half of 2011 was stronger than anticipated, the Bank expects the U.S. recovery will proceed at a more modest pace going forward, owing to ongoing household deleveraging, fiscal consolidation and the spillovers from Europe. Chinese growth is decelerating as expected towards a more sustainable pace.

Commodity prices-with the exception of oil-are expected to be below the levels anticipated in the October MPR through 2013.

The Bank's overall outlook for the Canadian economy is little changed from the October MPR. While the economy had more momentum than anticipated in the second half of 2011, the pace of growth going forward is expected to be more modest than previously envisaged, largely due to the external environment.

Prolonged uncertainty about the global economic and financial environment is likely to dampen the rate of growth of business investment, albeit to a still-solid pace. Net exports are expected to contribute little to growth, reflecting moderate foreign demand and ongoing competitiveness challenges, including the persistent strength of the Canadian dollar.

In contrast, very favourable financing conditions are expected to buttress consumer spending and housing activity. Household expenditures are expected to remain high relative to GDP and the ratio of household debt to income is projected to rise further.

The Bank estimates that the economy grew by 2.4 per cent in 2011 and projects that it will grow by 2.0 per cent in 2012 and 2.8 per cent in 2013.

While the economy appears to be operating with less slack than previously assumed, given the more modest growth profile, the economy is only anticipated to return to full capacity by the third quarter of 2013, one quarter earlier than was expected in October.

The dynamics for inflation are similar to those anticipated in the October MPR, although the profile for inflation is marginally firmer.

Both total and core inflation are expected to moderate in 2012 and subsequently rise, reaching 2 per cent by the third quarter of 2013 as excess supply is slowly absorbed, labour compensation grows modestly and inflation expectations remain well-anchored.

Several significant upside and downside risks are present in the inflation outlook for Canada. Overall, the Bank judges that these risks are roughly balanced over the projection horizon.

Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate at 1 per cent.

With the target interest rate near historic lows and the financial system functioning well, there is considerable monetary policy stimulus in Canada. The Bank will continue to monitor carefully economic and financial developments in the Canadian and global economies, together with the evolution of risks, and set monetary policy consistent with achieving the 2 per cent inflation target over the medium term.

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 MPR on 18 January 2012.

The next scheduled date for announcing the overnight rate target is 8 March 2012.

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

Discounted commission rates and the buyer agent commission

I had an interesting question from a buyer. Below is the question and my answer.
Mark

Hi Mark,

Thanks a lot for the very informative email. The house I am considering selling our house, if the buyer's agent gets 2.5% commission isn't the buyer then responsible to pay the HST on behalf of their real estate agent?

Thanks,

MA

Hello MA

Even though the buyer's agent represents the buyer, 99.9% of the time (I'm guessing that maybe 1 in 1000 transactions the buyer may pay the commission to the buyer's agent) the agreement is that the listing agent pays the buyer the buyer's side of the commission and this is why the total commission to the seller is 5% or at least the buyer's agent side comes out of the total commission that the seller pays.

This is the way that it's set up in Ontario and it continues to work well.

In the US and other parts of the world the buyer's agent does get paid through the buyer, but in those cases or areas the lenders and banks need to be 'on board' and assess the property 2.5% (plus HST) higher than the price that the buyer pays in order for the buyer to pay the buyer's agent side of the commission, and it can become complicated.

This is the main reason why the commission split is similar to the way we have always done it even though the buyer's agent represents the buyer, the seller still pays the total commission.

Some Ontario lawyers have a problem with this, but let's not get into that!
:-)

All the best!
Mark

REMAX Report for Greater Toronto Area since year 2000

This is directly from the RE/MAX report on the GTA sales since 200, very interesting trends!

While a surge in new home construction and renovation has buoyed residential housing values across the Greater Toronto Area since 2000, single-detached homes in core neighbourhoods have experienced the greatest pressure on pricing in the past decade.

Overall average price in the GTA climbed from $243,255 in 2000 to $431,463 in 2010-an increase of just over 77 per cent (despite an expanded trading area).

Price appreciation has been more pronounced in Toronto district's C01 through 15,E1 through 3, and W1 through 10-where a single-detached home has appreciated by as much as 111 per cent(C11 - Leaside). From 2000 to 2010, residential building permits rose to just over $77 billion-more than doubling values posted in the previous decade.

Close to $6 billion was spent on building permits for renovation purposes during the same period, just a fraction of what is actually attributed to renovation spending in the GTA over the past decade. Infill ll has been a major driver. As such,the landscape of entire communities has changed over"From 2000 to 2010, the value of residential building permits rose to just over $77 billion."

the last decade, as larger homes and townhouse developments replace bungalows, storey-and-a-halves, and two storey properties. The trend is evident throughout the Greater Toronto Area-from Oakville to the Beach and all points north. Even the most prestigious addresses can present redevelopment opportunities-the Bridle Path is case in point where many of the smaller ranch-style bungalows sitting on two and three acres lots have been demolished to make way for 18,000 sq. ft. mansions.

With a disposal bin on what seems like every second driveway, homeowners have also been on a renovation tear in recent years. Approximately 35 per cent of the city's owned housing stock (Statistics Canada) was constructed prior to 1970. While maintenance and repair are a given for many, some buyers are taking their homes to the studs.The Greater Toronto Area is growing-and nowhere is that more evident than in the core. Sales of single-family dwellings have increased 54 per cent in the last 10 years,rising from 18,405 sales in 2000 to 28,387 in 2010.Condominiums have been in large part responsible for the upswing in sales - with renewed focus on higher density development in downtown Toronto.

Sales in C01 alone-the vast majority of which are condominium apartments and townhomes-have experienced a 212 per cent increase in the number of units sold between 2000 and 2010. With prices of single-detached product rising across the Greater Toronto Area, condominiums now represent the first - step to homeownership.

Trendy new condo enclaves have resurrected tired, older communities and given them a new lease on life. King St.West is leading the way, with Queen St. in hot pursuit.While affordability has driven the condominium lifestyle to a large extent-affluent empty nesters and retirees have been drawn to prestige developments in the city, including but not limited to the Ritz Carlton Residences, the Four Seasons Residences, the Hazelton,Shangri-La and the Trump Tower.

The most expensive sale - condo or single-family-has been the penthouse of the Four Seasons, with a sale price of $28 million-shattering all existing records to date. And while there are thousands of units coming on-stream in the year's ahead, absorption is not expected to be an issue.

Apartments that are not occupied by end users will likely end up in a rental pool. Vacancy rates in the city are trending lower, population is on the upswing in the GTA-rising almost 10 per cent from 2001 to 2006 and climbing,and new rental apartments are few and far between.

The future is bright for residential real estate in Canada's largest centre.

Economic fundamentals remain sound,with GDP growth expected to improve, and employment numbers on the upswing. Interest rates are forecast to remain stable, which should also serve to bolster homebuying activity in the months ahead. With inventory levels tighter than usual, continued upward pressure on pricing is a given.

Who says we are in a bubble? It appears to be real growth and the trend is continuing into this decade too!


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