Sunday, August 19, 2007

Buyer Agency in the GTA

“Working with a buyer's agent is like having a real estate advisor, a home finder and a financial consultant--all for free!”

Until recently, real estate agents were legally bound to represent the seller's interests in a real estate transaction, whether they were the "listing agent" or the agent who helped the buyer find the home.

That's all changed. Today, buyer's agents not only help buyers find homes, they can help negotiate price and contract terms on the buyer's behalf; provide information about a home, the sellers, previous offers and counteroffers; and help arrange for financing, among other services. In almost all cases in our area the buyer's agents are paid from the sales commissions offered by sellers.

Read more about Buyer Agency

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

Saturday, August 18, 2007

Child Safety Around the Home

Child Safety Around the Home

Your Child's Safety is #1

Ensuring safety for your child is a parent's utmost concern and responsibility. In these high-tech times of fast-paced lifestyles, paying extra attention to your child's well-being may sometimes prove challenging, yet never-the-less crucial. From babies and toddlers to the teenage years, here are some important tips to help you maintain peace of mind for your child's welfare.

Childproofing Your Home

Use Safety Latches and Locks for cabinets and drawers in kitchens, bathrooms, and other areas to help prevent poisonings and other injuries.

Use Safety Gates to help prevent falls down stairs and to keep children away from dangerous areas.

Use Door Knob Covers and Door Locks to help prevent children from entering rooms and other areas with possible dangers. Door knob covers and door locks can help keep children away from places with hazards, including swimming pools.

Use Anti-Scald Devices for faucets and shower heads and set your water heater temperature to 120 degrees Fahrenheit to help prevent burns from hot water.

Use Smoke Detectors on every level of your home and near bedrooms to alert you to fires.

Use Window Guards and Safety Netting to help prevent falls from windows, balconies, decks, and landings.

Use Corner and Edge Bumpers to help prevent injuries from falls against sharp edges of furniture and fireplaces.

Use Outlet Covers and Outlet Plates to help prevent electrocution.

Use a Carbon Monoxide (CO) Detector outside bedrooms to help prevent help prevent CO poisoning.

Cut Window Blind Cords.

Use Safety Tassels and Inner Cord Stops to help prevent children from strangling in blind cord loops.

Use Door Stops and Door Holders to help prevent injuries to fingers and hands.

Use a Cordless Phone to make it easier to continuously watch young children, especially when they're in bathtubs, swimming pools, or other potentially dangerous areas.

On-line Safety for Children

Be aware of your child's online activities and be sure to maintain rules of usage, especially if they frequent chatrooms. It is important to instruct your children:

to never arrange a face-to-face meeting with someone they met online
to never upload (post) pictures of themselves onto the Internet or online service to people they do not personally know
to never give out identifying information such as their name, home address, school name or telephone number
to never download pictures from an unknown source, as there is a good chance there could be sexually explicit images
to never respond to messages or bulletin board postings that are suggestive, obscene, belligerent or harassing
that whatever they are told on-line may or may not be true

Child Safety Trips

Make sure your child learns his or her address and phone number at an early age.
Teach your child how to call 911 in case of an emergency.
Do not leave a child unattended while shopping, visiting with neighbors or friends, or running errands. Under no circumstances should you leave a child alone in a vehicle.
When home alone, children should never open the door for strangers.
On the telephone, your child should never let anyone know they are home alone. Discuss responses such as : "Mom/Dad is busy right now."
A child should never leave school or daycare with anyone except a parent or guardian.
When shopping or in a crowd, children should be taught who to go to if separated from you.
Make sure your child knows to scream and run if approached in an alarming way by anyone.
Your child should know to make you aware anytime he or she feels uncomfortable with anyone.
Make sure your child always checks with you before going anywhere with anyone. Have them inform you of where they are going, whom they are going with and when they will be home.
Keep a record of your child's personal and medical information on hand in case of an emergency. Always include a recent photograph.
Remember to teach children that police officers are their friends, and that they are there to help them.
If children find a gun or bullets - do not touch it! Tell an adult.
Never leave children unattended near operating stoves or burning candles, even for a short time.
Teach children not to touch matches or lighters they may find. Instead, they should tell an adult immediately.
Choose babysitters with care. Obtain references from family, friends, and neighbors. Ask your children how the experience with the caregiver was, and listen carefully to their responses.
Be careful when you put your child's name on clothing, backpacks, lunch boxes or bicycle license plates. If a child's name is visible, it may put them on a "first name" basis with an abductor.

Read more about water safety
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

Friday, August 17, 2007

Recent mortgage interest rates

Current mortgage interest rates in the GTA

This is a table showing the current posted mortage interest rates in the GTA and the rates available from mortgage brokers.

TERMPOSTED Best RATES
6 Month 6.65%6.25%
1 Year7.15%5.6%
2 Year7.3%5.65%
3 Year7.3%5.7%
4 Year7.3%5.84%
5 Year7.24%5.79%
7 Year7.55%6%
10 Year7.9%6.15%
Variable Rate3.05%
Prime Rate6.25%


If you are interested in obtaining good rates, please send me an email and I will put you in touch with these mortgage brokers.

See graph of recent mortgage interest rates



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, August 16, 2007

Canadian Resale market is still sizzling

Resale home transactions still sizzling
Hit fourth straight monthly record in July, but construction of new units tailing off

Sales of existing homes in Canada set a blistering pace again last month, and show few signs of letting up for the rest of the year.

Resale home transactions hit a fourth straight monthly record in July, with the average price rising to $332,442, a 13.1-per-cent increase from the previous July, according to statistics released yesterday by the Canadian Real Estate Association.

Sales are expected to reach 514,450 units for the year, the highest level on record and a 6.5-per-cent increase over last year.

Before the U.S. subprime mortgage crisis and its impact on the credit markets, this strength may have tipped the scales in favour of an interest rate increase when the Bank of Canada meets next month, said Douglas Porter, managing director and deputy chief economist at BMO Nesbitt Burns Inc. Now, it will probably lessen the likelihood of an interest rate cut if the credit trauma worsens, he added.


"The latest resale data again show precisely zero signs of a let up. Absent the credit market turmoil, the bank would surely be tightening again in September ... but that's like saying absent John Wilkes Booth, Abe would surely have enjoyed the play," Mr. Porter said in a research note.

The average price of a resale home in 2007 is expected to rise 9.9 per cent over last year, primarily due to strength in Western Canadian markets, according to a report yesterday from Canada Mortgage and Housing Corp.

Higher house prices, however, along with mortgage rates that have risen about three quarters of a percentage point since the start of the year have started to put a damper on new home construction.

The number of new homes built this year will drop in every province except Manitoba, Quebec and Saskatchewan, all of which are being bolstered by steady economic growth and job creation, according to the CMHC's third-quarter outlook.

"Despite high employment levels, income gains and low mortgage rates, housing starts will trend downwards in 2007. The slight pull back in housing starts this year and next will be mainly due to the continued growth in house prices coupled with modest increases in mortgage rates," CMHC chief economist Bob Dugan said.

A total of 220,000 new housing units are expected to be completed this year, a 3.2-per-cent decrease from 2006. This is seen declining to 207,200 new units in 2008.

Mr. Porter said anything in the range of 200,000 housing starts a year still indicates a "very strong" real estate market. Existing home sales provide a better gauge of consumer confidence and discretionary spending on items including furniture and appliances than new construction does, Mr. Porter said.

Existing home sales and prices are expected to increase next year at a more moderate pace, with sales seen hitting 494,750 units in 2008 and prices rising 5.2 per cent, CMHC said.

Spending on home renovations is expected to increase by 9.8 per cent to $49.9-billion in 2007 compared with 2006, and by 6.8 per cent in 2008 to $53.3-billion.



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

Wednesday, August 15, 2007

Where is the market heading? In light of increased mortgage interest rates.


I received another email question today and thought I would post my long-winded answer below and share my thoughts with you too.


Enjoy! Mark

The question was:


Just wondering what is happening in the market after interest rates went
up.

Is there a lot of Townhomes on the market and are prices coming down.
Just wandering if is a good time to invest again.

Thanks

A.

Here's my answer:


Hi A.,

The market is quite fast these days. Normally, it slows down in the summer, but this summer has been quite active. Average prices are down a couple of percent which is typical for this time of year, but the volume of sales is hitting records. See the link below. Normally there are about 40-50 townhomes in Erin Mills for sale at any one time, but there are only 34 right now and many of them are conditionally sold.

Yes, this is a very good time to invest.


I realize the rates have increased but only marginally and it will likely only be short term. We are going short on all of our mortgages, time proves short term is by far the better option, see here, of course probably until I follow that method! :-))

There are not too many major scenarios that will cause real estate market to tank. One scenario is major global catastrophe or war or terrorist act. All could cause sudden and major drop in market, but the stock market would take a huge hit too. So would our entire economy, so all things being equal, anything major will affect everything, so real estate should still be a good long term investment. Time has proven real estate will recover and then some, so I am not worried, besides, it would just mean we get less rent, if we don't have to sell, all is fine, but more properties!

Another thing that could happen is that interest rates continue to climb. Once they reach 7 or 8 percent the economy will slow and then rates will stabilize and/or come down again. This may only last a year or two and then the economy will settle down again. Increasing rates certainly cut out the very bottom entry level buyers, but there seems to be enough buyers out there to sustain and continue to cause prices to rise and record sales month after month.

Another possibility is the US economy continues to be bad or gets worse. Although it used to be that "if the US got a sniffle Canada would get a cold or the flu", no longer seems to be the case. Our marketplace in the GTA, Ontario and Canada seems to have been insulated from events in the US since about 911 and seems to be able to sustain itself regardless of what happens to our friends south of the border.

Oil prices rise to $100 or more per barrel. Again, yes, this will have an impact on our marketplace, but maybe only short term. The demand for gasoline seems to be completely inelastic, regardless of how high gasoline and oil prices rise, we still drive large vehicles and conserve very little. We may complain like hell about the price at the pumps, but we pay it and keep driving.

US election years have almost always caused our market to slow, EXCEPT in 2004. Thus, it's your guess whether our market and economy slows next year or not.

Un-Employment rates rise, due to dollar, economy or overseas markets could cause our market to slow, people spend less money and the economy stalls, again, this would affect all markets, not just real estate.

Another scenario is that the baby boomers all get old in the next ten years and sell off their real estate and/or give it to their kids who cash out. Either way, if a flood of listings were to come on the market it could affect our prices in the short and long term. Personally, this does not worry me. There seems to be enough people out there to absorb any increase in inventory, but only time will tell on this one. I believe it will be much more gradual than people think. Fractional ownership worries me more than the boomers cashing out. I may be wrong on this and I've not researched the success or failure of fractional ownership in other parts of Canada or the world, but if time shares are any indication, I think that this may hurt more people than help them in the long run.

At any rate, these are some of the scenarios that the doomsayers are predicting and hopefully none of them will come to fruition and even if they do, I feel they will have less impact on our real estate market than some think.

There are other possible scenarios, I would like to hear your feelings and ideas, but these are some of the major reasons for large price swings in the market in the past and could be for the future too.

If history repeats itself again this fall, prices will likely escalate again in mid to late September until middle of November, see the graph here, so make your purchase soon or wait until December 10th to purchase and hope there are some listings on the market at that time that you like!

In summary, and I know it sounds corny, I still go by the old adage that the best time to buy real estate is yesterday.

Thanks,
Mark




Toronto Real Estate Board (TREB) Average Prices and Graph

For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1

BUS. 905-828-3434
FAX. 905-828-2829
E-MAIL: mark@mississauga4sale.com
Website: Mississauga4Sale.com

Tuesday, August 14, 2007

Canada’s Economy on Fire - From RBC


Canada’s economy on fire


The economic news from Canada during the past month has been unambiguously strong, with retail sales posting the largest one-month gain in almost 10 years in May and employers adding 35,000 more workers to their June payrolls.

Even manufacturers, who have to contend with the Canadian dollar trading at its highest level against the U.S. dollar in 30 years and rising input prices, remain optimistic. Statistics Canada’s quarterly survey of manufacturers, released in late July, reported continued optimism on production and employment with only a modest deterioration in the outlook for orders.

This upbeat assessment is likely to alleviate worries at the Bank of Canada that the currency has risen to levels inconsistent with economic fundamentals. The strong data reports support our forecast that the economy grew at an above-potential 3% annual rate in the second quarter and moved deeper into a state of excess demand.

In the July Monetary Policy Report Update, the Bank acknowledged that the economy “is operating further above its potential than was projected in the April report,” justifying their decision to raise the policy rate to 4.5% on July 10. Courtesy of RBC

Toronto Real Estate Board (TREB) Average Prices and Graph Read more about real estate prices

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

Saturday, August 11, 2007

Canada’s economy still has solid momentum

Canada’s economy still has solid momentum
Canada’s economy enjoyed strong momentum going into the second quarter, but mixed
data for April and May resulted in a downward revision to the market’s forecast for the degree of monetary policy tightening in the pipeline.

The pace of job creation paused in April and May, although the unemployment rate held at its 33-year low and wage growth firmed, signalling that labour market conditions are tight. April’s headline numbers in the manufacturing, retail and wholesale reports were disappointing, although manufacturing and retail activity actually firmed in the month after adjusting for price changes; only wholesalers saw a big dip in sales.

Real GDP growth flattened out in April compared to the rapid gains in February and
March, but even with only a modest pick-up in May and June the economy is on track to grow at close to its potential rate in the second quarter. After the strong increase in the first quarter and with the economy already operating in a state of excess demand, a trend like increase in the second quarter spells no relief from the upward pressure being exerted on prices. This means that the Bank will have to raise the overnight rate if the mediumterm
inflation target is to be met.

See how the TREB Average Prices have escalated over the past 10 years

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

Wednesday, August 08, 2007

Scottsdale Fine Properties located in Scottsdale Arizona

Toronto Real Estate Board (TREB) Average Prices and Graph
Scottsdale Fine Properties located in Scottsdale Arizona
Sponsored Post by Mark Argentino

Recently I had the opportunity to review a real estate site located in Scottsdale Arizona. The website is named Scottsdale Fine Properties and is a diamond when it comes to Arizona real estate services. The owner of this real estate company is Lesley Martinson and her team understand the fine art of managing transactions at the high end of the market. Their exclusive focus on the Scottsdale luxury home, investment, vacation and condominium segment, and delivering an extraordinary level of service, have earned them both success and a sparkling reputation nationwide.

This site would compare quite nicely to this Mississauga site due to the fact that it appeals to the high end of the marketplace and the agents offer top level service to their clients.

Lesley Martinson's company offers complete buyer and seller real estate services for estates, luxury homes, executive homes, golf properties, condos, seasonal property, and land. Mississauga4sale.com offers similar types of properties and opportunities.

They also have a unique focus on new home sales in affluent North Scottsdale. Lesley brings 17 years of personal real estate experience to the business, with career personal sales in excess of half-billion dollars. Mark Argentino brings nearly 20 years of real estate sales experience.

Scottsdale Fine Properties marketing and advertising targets high-income clients both nationally and internationally through their exclusive membership in Who's Who in Luxury Real Estate and other professional affiliations. They advertise in numerous publications including Fortune, The Robb Report, The Wall Street Journal, Dupont Registry, Who’s Who in Luxury Real Estate, Dream Homes, Luxury Homes and Investor's Business Daily. They also reach the local market with ads in Scottsdale Magazine, Camelback and 85255 as well as selected special publications. Mississauga4sale.com advertises exclusively on the internet.

In Summary, if you are interested in working with a complete and full service real estate company that deals with all types of properties and appeals to people who want their transactions managed from beginning to end, then Scottsdale Fine Properties is the realtor to use in Scottsdale Arizona. http://www.scottsdalefineproperties.com/


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

TREB Real Estate Market Continues to set Fast Pace

Toronto Real Estate Board (TREB) Average Prices and Graph
August Report - More Records Broken
August 2, 2007 -- TREB Members reported 8,912 total sales in July, 26 percent ahead of the 7,082 sales recorded in July of 2006, and an all time record for the month.

Furthermore, July makes the fourth month in a row that sales have broken monthly records. "The local resale market is as healthy as it has ever been," said TREB President Donald Bentley. "Not only are we running 13 per cent ahead of last year's January - July total of 52,682, we are running 14 per cent ahead of the seven month total for 2005, which became our best year ever."

While sales have set a blistering pace, prices eased in July, down two per cent to $366,012 from June's average of $373,719. "This decline is seasonal in nature," said the President. "Prices tend to ease in July/August as potential homebuyers and sellers go on holiday." He went on to note that the year-to-date average, at $373,326, was up five per cent over the same time-frame in 2006.
See graphs of the average historic TREB prices

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, August 06, 2007

Condo's continue to be very HOT in Canada


It's Still Condo Mania in Canada

Nearly half of all new home sales in Toronto in April were high-rise condominium suites, lofts and stacked townhouses. Across Canada, from 2001 to 2005, condo starts have posted an annual increase of more than 16 per cent, accounting for almost one-third of new home construction. Despite the amount of new product available, in most parts of the country, it's still a sellers' market.

A recent survey by Ipsos-Reid for TD Canada Trust, and a follow-up report by TD Economics, says both the short and long-term outlook for condos in Canada is good. It says Canada's healthy labour market, low interest rates and an aging population will contribute to brisk condo sales.

"The hottest markets, notably Calgary and Vancouver, will see some cooling off from dramatic and unsustainable highs last year, but overall conditions will remain healthy and activity will be high," says Craig Alexander, VP and deputy chief economist for TD Economics, and author of the study.

He predicts that during the next 18 months, the pace of condo starts will decline by about six per cent and resale prices will "cool out, while still remaining quite elevated." He expects Calgary will see price growth drop from 26.6 per cent last year, to 10.5 per cent in 2007/08. He forecasts Edmonton prices to drop from 16.6 per cent to 12.5 per cent, and Vancouver prices to go from a 16.3 per cent increase last year, to 10.5 per cent this year.

In the more stable central and eastern markets, Alexander calls for Toronto condo prices to increase by 4.2 per cent this year, while Ottawa price gains rise from 3.6 per cent last year to 4.5 per cent. Montreal price increases are expected to drop to 3.5 per cent from 6.4 per cent.

The survey found the top two reasons for preferring condos were lower maintenance costs and greater affordability. Alexander says that condo prices are almost half of the average price of detached bungalows in Vancouver, and roughly one-third less than the average price in Calgary and Toronto. "Given the rapid price increases in detached dwellings sustained over the last few years, condos may be the only option for some potential homeowners -- and many first-time buyers -- in selected markets," he says.

Other reasons for preferring condos are good building security, attractive design and environmentally friendly design/energy efficiency. Proximity to public transit, retail outlets and entertainment are also important factors for those looking for a condo.

The survey found that 39 per cent of Canadians would consider buying a new or resale condo, an increase of four per cent from a similar survey taken in June 2006.

"Looking beyond the near-term outlook, there is fundamental support for condos in the major Canadian markets from structural economic trends, including the aging population and the continued urbanization of the country," says Alexander in the report.

Older Canadians are attracted to condos as they downsize and look for less maintenance in their homes. The median age in Canada was 37 in 2001 and is expected to be between 45 and 50 by 2056. "This could create headwinds for real estate, which is influenced by demographic demand for housing, but the aging population could prove positive for condos," Alexander says.

While the demographic trend suggests slower population growth, Alexander says it is evident that cities will continue to grow faster than rural communities. In 1901, 37 per cent of Canadians lived in urban centres. By 1951 it was 62 per cent, and by 2006, 80 per cent of the population was living in an urban centre.

Rising traffic densities has led to urban renewal in the cities, which is expected to intensify in the years to come, Alexander says. "While condos are not solely located in cities, as evidenced by their presence in some resort settings, the bulk of condos are concentrated in urban centres, making them highly likely to benefit from the urbanization trend."

Despite the generally rosy outlook, Alexander says there are some risks for the condo market.

"The explosive price growth and the presence of speculation in the west have been sending off warning signals," he says. "But, if price growth moderates as new supply comes on the market and as eroding affordability dampens demand, a boom-bust cycle can be avoided.

"Meanwhile there is significant additional supply in the pipeline for Toronto from projects that are already underway, but are not yet completed. This could impact price growth, but so long as employment remains solid and interest rates do not rise significantly from current levels, there should be no problem absorbing the additional units," Alexander says.

Read more about Mississauga and GTA Condos

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