Thursday, March 09, 2006

Toronto Real Estate Average Prices up 6% and Sales up 9% in February


Greetings from Fabulous Mississauga!


The real estate market in Mississauga and the GTA is off to another roaring first two months!

You may notice this is a significantly shorter version of my newsletter. You may read a much more detailed version at this online link

I hope that everything is going well for you and that you receive this in good health.

Mark


Graph of Average Sales Prices in the GTA



If you would like more information or have any questions or suggestions, please email me at mailto:mark@mississauga4sale.com

I wish you and your family All the Best!

Click here to see Mark's Overview Page!


This Month's Statistics This Month's Stats Read More about Prices...

Friday, March 03, 2006

Two articles about mls.ca and it's positive and negative impact on our industry.


Two articles about mls.ca and it's positive and negative impact on our industry.

This article talks about how mls.ca continues to help the public

This article talks about how mls.ca confuses the public

The two articles above are interesting comments from 'both sides of the fence' regarding mls.ca I believe that we agents have to always think about what is in the best interests of the public and our clients. Isn't this our job anyway?

The current shift of having all (or most) of the information available on the internet is inevitable because of many factors. The most important factor is control. When the public feel they have control over their searches and that they are not "missing out" on any possible properties, then they will use and like the system. The second important factor is anonymity. If you can search the mls on your own without the intrusion or 'closing' of a real estate agent, then the public wins again.

Agents who list properties certainly win with mls.ca and why shouldn't they? We were all taught, 'list to last' and this still holds true in 2006

The comment about the used car purchase is right on the mark. Think about your last 'nightmare' search and purchase of a used (or even new) car. If there was some organized public system that allowed you to search for all the current vehicles in your area using online methods from the privacy of your own home before you stepped into a car dealership you would be ecstatic. This is exactly why mls.ca works so well!

We have to embrace technology and use it to our advantage. This holds true in almost any industry in the marketplace today.

I wish you all the best in your real estate career and most important in your family life!
A. Mark Argentino P. Eng. Associate Broker
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
BUS 905-828-3434
Website:
Mississauga4Sale.com



Real Estate observations and predictions by RE/MAX Ontario Atlantic for our local Mississauga, GTA and Canadian Real Estate market for 2006


Real Estate observations and predictions by RE/MAX Ontario Atlantic for our local Mississauga, GTA and Canadian Real Estate market for 2006
Specifically, if you are thinking of selling and/or buying a home in the next few months, this article will apply to you.
Affordability to hold steady in 2006 as listing inventory improves in most major markets, says RE/MAX

Mississauga, ON. - After shattering existing records from coast-to-coast in 2005, housing values are expected to moderate in most major centers in 2006. More balanced conditions should emerge in the year ahead, characterized by healthy inventory levels and less urgency in the marketplace, according to a report released today by RE/MAX.


The RE/MAX Housing Market Outlook 2006 found that the vast majority of major Canadian markets surveyed are expecting modest price appreciation ranging from two to five per cent in 2006. The only exceptions are Vancouver, Kelowna, and Calgary, all of which are forecast to experience price increases in the area of 10 per cent next year. Projections for average prices range from a low of zero in London-St. Thomas (Ontario) to a high of 10 per cent in the heated Western Canada markets. Unit sales are forecast to demonstrate solid momentum again in 2006, with all but seven markets (Victoria, Kelowna, Toronto, London-St. Thomas, Kitchener- Waterloo, Montreal and Halifax) expecting activity to either exceed or remain on par with record 2005 levels.

Nationally, home sales are forecast to climb two per cent by year-end 2005 to 472,100 units—the best year ever for housing in Canada. Average price appreciation will post a nine per cent gain, bringing the value of a Canadian home closer to the $250,000 threshold at $246,600. “Canada’s economic engine continues to fire on all cylinders, outperforming expectations at every level,” says Michael Polzler, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada. “Consumer confidence levels are strong.

Even the Bank of Canada’s effort to put the brakes on the economy – boosting interest rates one half of one percentage point in a two-month period -- only served to bolster home-buying activity. Interest rates could climb as much as two percentage points before we see any real impact on the housing market.”

Strong economic fundamentals will contribute to healthy residential real estate activity yet again in 2006. Western Canada, Newfoundland, New Brunswick and Nova Scotia, in particular, are expected to benefit from thriving oil and gas-related industries. Nationwide, billions of dollars have been earmarked for non-residential construction. Immigration is also forecast to play a greater role in housing markets across the country. Canada is opening its door to as many as 255,000 new immigrants in 2006 and that figure may be ramped up in the future. Typically, household formation among new immigrants takes place within five years of arrival.

The highest percentage increases in unit sales are expected to occur in Western Canadian markets next year. Edmonton and Regina are predicted to lead the country with a five per cent increase over 2005 levels. Sixty-one per cent of all markets forecast activity in 2006 to be on par the previous year’s figures.

“Affordability has certainly been a major concern, particularly in markets in British Columbia and Alberta, where average price has experienced strong upward momentum throughout 2005 due to tight inventory levels,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “An influx of new listings in the marketplace should ease some of the upward pressure on housing values and allow purchasers the luxury of time when buying a home.” Highlights:

First-time buyers are expected to play an integral role in housing markets from coast to coast.
Move-up purchasers will continue to take advantage of equity gains in recent years to trade-up to bigger and better properties.
The upper-end of the market is predicted to post impressive gains in several major markets.
Singles, baby boomers, and retirees are forecast to fuel demand for the increasingly coveted condominium lifestyle.
Adult communities are growing in popularity with empty nesters and retirees.
RE/MAX is Canada’s leading real estate organization with over 15,500 sales associates situated throughout its more than 605 independently owned and operated offices across the country. The RE/MAX franchise network, now in its 32nd year of consecutive growth, is a global real estate system operating in over 58 countries. More than 5,800 independently owned offices engage 113,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, relocation and asset management. For more information visit: www.remax.ca

I help clients with many of their rentals per year and I am finding it much more difficult to find good quality tenants over the past few years. You may read the latest TREB (Toronto Real Estate Board) rental property report in pdf format.

Even if we have a correction in our market, I don't think it will be too significant. We are not in a boom similar to the investor fueled boom of the mid to late 80's so I think (and hope) that we will not ever see the bottom fall out of the market the way we did in '89 to '95.

So there you have it from RE/MAX and a few other sources. I am sorry I cannot predict the market more accurately for you. When push comes to shove, you will have to make the final decision.

Many in GTA are house hunting - cmhc-schl.gc.ca - More than 220,000 households in the Greater Toronto Area, or GTA, are thinking of buying a home this year, according to a survey by Canada Mortgage and Housing Corp., or CMHC CMHC's survey, conducted this past fall, indicates Toronto's housing market will remain hot this year. The survey found 13 per cent of the GTA's 1.7 million households plan to take the home-buying plunge this year. Toronto Star article


Toronto Housing Market Outlook for 2005 courtesy of CMHC - pdf document

Conclusion that I draw from this and other sources
It is interesting that many of the experts are predicting prices to rise only slightly for 2006, but nearly as not as much as they did in 2005. I would agree with this line of thinking. The last 4 months of 2005 showed signs of a more "normal" market. The market so far in 2006, up to the end of February has been normal, but nowhere near the sales volume or price increases that were experienced in early spring of 2005.

As long as rates stay about where they are we should see another year with a healthy real estate market for 2006 with modest price increases.

So, if you are thinking of selling and buying a homes this year, should you buy or sell first? I've had many clients purchase before they sell. I just want you to have all the information so you can make the best decision for yourself and your family. You may read more about buying or selling first here

Read about what happened in real estate last month.

I wish you much success, good health and happiness in 2006 and always!

Past Issues of TREB Market Watch for Toronto Real Estate


If you would like to discuss issues like this or other questions you may have, please email me at anytime .

Mark

Thursday, March 02, 2006

What is mls.ca in Canada and how does it work?


What is mls.ca? MLs.ca is the official site of the Canadian Real Estate Association. It is the gateway to all the listings across Canada.

As stated at the mls.ca website "This web site is an advertising vehicle provided by REALTORS® across Canada to help market properties. This web site is not an MLS® system. Please contact a REALTOR® for complete details about all properties listed here."

Almost all local board mls systems provide data to mls.ca to facilitate the publics search of mls listings in particularclular areas.

Most real estate boards in Canada (the Toronto Real Estate Board - TREB - being one of them), upload partial listing information to MLS.ca on a regular basis.

It is important to know that mls.ca is for the public and only provides limited information about the particular listings. Realtors utilize their local mls system to search and find mls listings and they have access to far more details and information about a particular listing than what is shown on mls.ca There are many reasons for this. One is the privacy act. Realtors have access on mls listings to the sellers names, financing incentives and other relevant information that is also necessary to draft an agreement of purchase and sale.

The information that agents use at their local board level (such as TREB)is much more current and we also have access to many years of historical price and listing information. As well, this is our current, 'real time' mls system for all the local listings.

You may notice that some listings show the address of the property and others do not. This is not a error or glitch in the system. It is the listing agent along with the sellers consent that decides if the address of a property should be made available on mls.ca

One reason that an agent may not want to show an address of a listing is so the potential purchaser would contact the listing agent for further information. Once the listing agent has the customer's email or name or address, the agent may attempts to convince that buyer into working with the listing agent for this and other potential properties. As long as my sellers give consent, all of my listings show the municipal address of the property. I feel that it's important that the potential buyer knows exactly where the property is located before they make further inquiries.

This way, the buyer does not waste their time following up on properties in areas that they are not interested in purchasing. This also means that any inquires that I receive on a property that you would have listed with me are more serious and qualified compared to other inquiries.

You may wish to navigate to mls.ca and you may use this link to go to mls.ca



Housing will be affordable in 2006


Housing will be affordable in 2006

(NC)-After shattering existing records from coast-to-coast in 2005, housing values are expected to moderate in most major centers in 2006. More balanced conditions should emerge in the year ahead, characterized by healthy inventory levels and less urgency in the marketplace, according to a report released by Re/Max.


The Re/Max Housing Market Outlook 2006 found that the vast majority of major Canadian markets surveyed are expecting modest price appreciation ranging from two to five per cent in 2006. The only exceptions are the Western Canadian markets of Vancouver, Kelowna, and Calgary, all of which are forecast to experience price increases in the area of 10 per cent next year. Moncton will lead in terms of price appreciation in Eastern Canada, projected to record a six per cent gain. Unit sales are forecast to demonstrate solid momentum again in 2006, with all but five eastern markets (Toronto, London-St. Thomas, Kitchener-Waterloo, Montreal and Halifax) expecting activity to either exceed or remain on par with record 2005 levels.


Nationally, home sales are forecast to climb two per cent by year-end 2005 to 472,100 units-the best year ever for housing in Canada. Average price appreciation will post a nine per cent gain, bringing the value of a Canadian home closer to the $250,000 threshold at $246,600.


Canada's economic engine continues to fire on all cylinders, outperforming expectations at every level. Consumer confidence levels are strong. Even the Bank of Canada's effort to put the brakes on the economy-boosting interest rates one half of one percentage point in a two-month period-only served to bolster home-buying activity. Interest rates could climb as much as two percentage points before we see any real impact on the housing market.


Strong economic fundamentals will contribute to healthy residential real estate activity yet again in 2006. In Eastern Canada, Newfoundland, New Brunswick and Nova Scotia, in particular, are expected to benefit from thriving oil and gas-related industries. Nationwide, billions of dollars have been earmarked for non-residential construction. Immigration is also forecast to play a greater role in housing markets across the country. Canada is opening its door to as many as 255,000 new immigrants in 2006 and that figure may be ramped up in the future. Typically, household formation among new immigrants takes place within five years of arrival.


The brisk momentum in unit sales is expected to hold steady next year, with 58 per cent of markets in the east forecasting activity in 2006 to be on par with the previous year's figures.


Affordability has certainly been a major concern, with significant price increases recorded year-after-year. An influx of new listings in the marketplace should ease some of the upward pressure on housing values and allow purchasers the luxury of time when buying a home.


Highlights:


. First-time buyers are expected to play an integral role in housing markets from coast-to-coast.


. Move-up purchasers will continue to take advantage of equity gains in recent years to trade-up to bigger and better properties.


. The upper-end of the market is predicted to post impressive gains in several major markets.


. Singles, baby boomers, and retirees are forecast to fuel demand for the increasingly coveted condominium lifestyle.


. Adult communities are growing in popularity with empty nesters and retirees.


Overall, the country is poised for another strong year of real estate activity in 2006. Seller's market conditions will persist across the board, although in the majority of eastern markets, an improvement in inventory will translate into better selection and more time to make housing decisions. The sense of urgency is expected to ease, as multiple offers become the exception. Properties that are priced at fair market value should continue to realize close to full list price. Overpriced listings are expected to stagnate in 2006, much as they did in 2005.


- News Canada



Wednesday, February 22, 2006

Mississauga Real Estate Newsletter- January 2006 started strong

Greetings from Fabulous Mississauga! Graph of Average Sales Prices in the GTA


Please see my current listings on the right, you have many to choose from!


See my MLS listings on Google Maps here


2006 off to a great start, read more


January 2006 has started strong and many are predicting another good year in real estate in the GTA. Most seem to think average GTA prices will escalate about 5 to 6% this year. Read some predictions here.


It is difficult to predict where the prices will go, (can they go any higher?) but, if patterns over the past years are any indication, prices will likely improve over the next few months.


Now that the January sales numbers are in the record books, you can read more about sales volumes and prices from last month in this article.


I hope that everything is going well for you and that you receive this
in good health.


I hope this finds you and yours happy and healthy!

Mark


Average Residential Resale Home Price Trends Graph since 1995 Average Residential Resale Home Price Trends Graph since 1985




I hope this finds you happy and healthy!

Mark

Monday, February 06, 2006

New home listing in Erin Mills, Mississauga


Excellent family home located in a central Erin Mills quiet area
Outstanding Cul de Sac location, very quiet and great for children
Close to Greenbelt and Walkways
Main floor family room with brick fireplace and sliding glass door walkout to yard
Galley kitchen with some modernizing, ceramic flooring
Quality broadloom flooring in living, dining and family rooms and all bedrooms
Partially finished basement with sectioned off rooms and laundry/furnace/storage room areas

Main floor family room, large corner brick fireplace with sliding glass door walkout to large rear patio and private patio and yard with gardens - all backing southerly
Master Bedroom features a large walk in closet with a door from closet to semi ensuite 4 piece bathroom
This home is located on a very quiet dead end court!
Appliances included - Existing Built in dishwasher, the Fridge and Stove and washer and dryer stored in the garage and owned by the vendor are included
Central Air Conditioning
Blinds on sliding glass doors are included
All Electric light fixtures are included
Hot water tank is a rental, purchaser to assume rental
All Built in shelving and some free standing shelving are owned by the tenant and will be removed prior to closing
Bright Open Concept home
Features from the MLS listing: This Is A Fantastic Central Erin Mills Location,Close To Schools (Loyola And Pheasant Run+Others),Parks,Some Recent Improvements & Renovations,Near Bike Paths And Walkways,All Situated On A Private Cul De Sac In The Heart Of Erin Mills,Backs South-Sunshine, Perfect Family Home On A Safe Quiet Court In Heart Of Erin Mills
Extras and Inclusions: Fridge,Stove,Washer,Dryer-Now Stored In Garage,B/I Dw,Cac,Mirr Clst Drs,,Blinds On Slider,All Elfs,Set Back Thermostat,Humid,Single Garage,Excl.All Wooden Shelves&Wndw Cov'gs Owned By Tenant,Broadloom Where Laid,Door To Garage From House
Other Comments: Well Cared For, Excellent Family Area,Close To Schls&Shp'g&Library&Transit&South Common Mall,Mins To Go,Great Price&Area&Home!Needs Some Tlc,Priced To Sell,Tenant Would Like To Stay-Call La For Details,**Show&Sell** Private Gardens and Greenbelt nearby, Walk To Schools & Shopping - Excellent Central Erin Mills Home
Fantastic central Erin Mills location, minutes to parks, bike paths, ravine, South Common Mall and community centre and Library and The Erin Mills Town Centre with ultra modern library and community centre with indoor pool, Michael-Angelo's strip plaza in Sawmill Valley, only minutes to highway 403 or QEW and good access to Clarkson GO Station and all amenities!

Thursday, January 19, 2006

Rental Properties and market rents in Mississauga Ontario

I added content to my site today about average rental rates in Mississauga, Oakville, Toronto and surrounding areas. It's very interesting data. Also, vacany rates are shown. Read more about rental rates

Neil Armstrong and Mr. Gorsky - a true story

Many of you may know I am a Professional Engineer in Ontario. I've always been interested in the Apollo missions, as were many other millions of people around the world, and was certainly memorized when I watched the first man walk on the moon in July of 1969. The short story below is humourus and I thought I would share it with you.

Guaranteed to make you smile... especially since it's a true story.

When Apollo Mission Astronaut Neil Armstrong first walked on the moon, he not only gave his famous "One small step for man; one giant leap for mankind" statement, but followed it by several remarks, including the usual COM traffic between him, the other astronauts, and Mission Control. Before he

re-entered the lander, he made the enigmatic remark "Good luck, Mr. Gorsky." Many people at NASA thought it was a casual remark concerning some rival Soviet Cosmonaut. However, upon checking, [they found] there was no Gorsky in either the Russian or American space programs.

Over the years, many people have questioned him as to what the "Good luck, Mr. Gorsky" statement meant. On July 5, in Tampa Bay, FL, while answering questions following a speech, a reporter brought up the 26- year-old question to Armstrong. He finally responded. It seems that Mr. Gorsky had died and so Armstrong felt he could answer the question. When he was a kid, Neil was playing baseball with his brother in the backyard. His brother hit a fly ball which landed in front of his neighbors' bedroom window. The neighbors were Mr. and Mrs. Gorksy. As he leaned down to pick up the ball, he heard Mrs. Gorsky shouting at Mr. Gorsky, "sex? Sex you want? You'll get sex when the kid next door walks on the moon!"

True Story.



Now, wasn't that a good story? I first read this story in the Professional Engineers of Ontario Mississauga Chapter Winter 2006 newsletter.  The editorial content about the story in the newsletter made reference to the fact that this is a true story. Not just once, but twice! Being the (slightly) skeptical person that I am, I just had to do a google search of Neil Armstrong Mr. Gorsky and wow, wasn't I surprised. There were thousands of references to this story, but I could not find one that said it was true. Try it yourself, search google for Neil Armstrong Mr. Gorsky

This was fun and I enjoyed the story... even if it is an urban legend!

Wednesday, January 11, 2006