Mississauga Real Estate, Homes, TREB & MLS Blog by Mark Argentino

Wednesday, December 12, 2007

Current Mortgage Interest Rates for Canada

Current Mortgage Interest Rates for Canada

Below are spot rates from First Line Mortgages

***Prime rate is currently 6.00%

***First Line Mortgages is offering a rate of 5.90% for a fixed term with a special renewal date of Nov.2012 in order to coincide the American Presidential election.

Historically, Canada's fixed rates drop around the election time and this affords clients the possibility of renewing at a time when rates will be low.

5 Year Variable	5. 40 % (. 60 % below prime for the entire term)
5 Year Fully Open Variable	. 75 % below prime
3 Year Closed	5. 70%
5 year Closed	5. 83 %
7 Year Closed	5. 88 %
10 Year Closed	5. 95 %

Example purchase at $450,000

Purchase price	$450000	$450000	$450000	$450000
Down payment	$22500	$45000	$67500	$112500
Payments per week	$465.27	$440.78	$416.29	$367.32
Household income required	$83400	$79500	$75500	$67500

See current Mortgage Interest nterest Rates,

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

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

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
› E-MAIL : mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

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Alberta Prices are changing - Canadian Housing Market Commentary

Housing Market Commentary

CANADIAN HOME PRICES NO LONGER AN ALBERTA STORY

According to the latest MLS / CREA existing home market data for October, year-to-date national resale home prices are up 10.5%. They will average close to $305,000 in 2007 compared to around $275,000 last year. This will mark the third consecutive year of 10% appreciation or more in the average Canadian existing home, a remarkable performance. But much of the price gains in recent years have been driven by markets west of Ontario, most notably in Alberta — where gains were outsized. National housing market statistics had lost much significance over the last three years due a marked divergence in performance between "the West and the rest". In particular, along with 30%+ sustained price gains over the last two years and because of their significant and growing market size, Calgary and Edmonton were skewing the national figures.

Yet as we crunch the numbers and look forward to 2008-09, we can state with some assurance that this particular chapter in Canadian housing market history is soon coming to an end, if not already behind us. Alberta's home price growth is cooling rapidly. The pickup in national average prices since January is mostly an Eastern markets story. After bottoming out in terms of home appreciation during the tail-end of 2006, Quebec and Ontario (and the Atlantic region to a lesser extent) continue to pick up enough steam to push up the national trend despite a massive cool down out West. This is particularly notable in Ontario where an uptrend since April has contributed heavily to a bounce-back in overall Canadian prices. We expect Alberta's home prices to grow close to par with the national average in 2008 and to underperform in 2009. And while Saskatchewan is currently on fire, it will likely follow a similar path in about 12 months time. Furthermore, Saskatchewan would not on its own skew the national numbers given its smaller market size.

With much less regional dispersion around the Canadian mean, national numbers start to have meaning again. This is reflective of underlying market (demand/supply) conditions: Calgary and Edmonton have become much more balanced with more listings coming on tap and sales slowing, whereas most large urban markets in Ontario and Quebec have seen the reverse, with their markets tightening.

Under a reasonable scenario of a continued cool down in Alberta (and in British Columbia to a lesser extent) and that Ontario and Quebec hold in around 7-9% or higher for a few months, then resale price growth performances should converge sometime in the second quarter of 2008.

Read more about Price Trends

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
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Tuesday, December 11, 2007

Canadian Housing Starts still high -- November 2007

Canadian Housing Starts Steady

New housing construction showed no signs of letting up in November. Housing starts, at an annualized rate of 227,900, were virtually unchanged from October and roughly in line with both market expectations and the pace in the last 12 months. Activity on the single-detached side bounced to its strongest level since March 2006, more than retracing some softness in October. The multi-units side continued to digest a 29-year-high spike in September and fell for the second straight month.

On a provincial basis, activity cooled in six provinces in November with the biggest declines in Quebec, Nova Scotia and Manitoba. Hefty gains in Ontario and B.C., however, heated things just enough to keep the overall temperature steady. In recent months, momentum has shifted from Alberta to B.C. as Western Canada's housing construction hotspot. In Central Canada, Ontario has regained leadership (notwithstanding a multi-unit surge in September), while Newfoundland & Labrador is the key engine in Atlantic Canada.

The Bottom Line: Despite earlier concerns about the potential impact of the financial market storm on Canadian housing demand, home building remains a pillar of strength in the Canadian economy. With strong job creation and favourable interest rates still providing support, residential construction is carrying good momentum into 2008.

Monday, December 10, 2007

Power of sale listings and prices that they sell for compared to average listing to sale price percentages in Mississauga

The table below shows the average, mean, mode, low and high figures for power of sale properties in Mississauga only over the past 90 days. This will give you a general idea of what power of sale properties sell for. Typcially, for comparison, regular non power of sale properties sell for about 98% of asking. Thus POS properties sell for about 1% less than the average.

The table and info below is for Mississauga over the past 90 days, and you can see in the table below one can see that pos properties sell, on average for 96.99% of asking price, would this information be helpful?

Statistics

Field	#	Mean (Average)	Median	Low	High
List Price	92	$276,555	$258,700	$105,000	$849,900
Original Price	88	$280,806	$267,250	$119,000	$849,900
Sold Price	84	$259,345	$247,400	$102,000	$608,000
% List	80	96.99	97	88	110
Taxes	53	$2,527	$2,406	$1,293.25	$4,772
Bedrooms	92	3	3	1	5
Washrooms	92	2.4	2	1	5
Days On Market	87	35	29	2	112

Counts

Field	Value	Count
Area	West TREB Districts	92
District	W12	9
	W13	2
	W14	7
	W15	19
	W16	10
	W18	13
	W19	14
	W20	18
Municipality	Mississauga	92
Last Status	Exp	2
	Sld	84
	Sus	1
	Ter	5
Type	Att/Row/Twnhouse	4
	Condo Apt	27
	Condo Townhouse	13
	Detached	21
	Semi-Detached	27
Style	2-Storey	36
	3-Storey	3
	Apartment	25
	Backsplit 3	2
	Backsplit 4	7
	Backsplit 5	2
	Bungalow	7
	Bungalow-Raised	5
	Loft	2
	Other	1
	Stacked Townhse	2

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
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See seasonal housing patterns

RBC report that Canadian Economy continues on a solid growth path

RBC Report that our Canadian Economy stays on a solid growth path

Canada's economy grew at a 0.2% pace in August and has expanded at a 2% annualized pace in the July-August period compared to the 3.4% average of the second quarter, setting up for a more moderate third-quarter following six months of very robust expansion. However, the downside risks to the growth outlook have been mounting as the U.S. housing market correction continues in full swing and the Canadian dollar treks to higher levels.

Canadian payrolls rose 63,000 in October. The unemployment rate ticked down to 5.8%. Average hourly earnings for permanent workers accelerated to 4.2% yearover- year from 4.1% in September, marking the fastest pace since May 2001.

After two back-to-back declines, retail sales picked up pace in August, rising by 0.7%. Retail sales slowed in the first two months of the third quarter but remained in positive territory in real terms, supported by the strong labour market and a pickup in wage growth.

Housing starts slipped back in October to a 219,500 annualized pace from the exceptionally high 281,300 pace in September, the highest level since 1978. Our forecast assumes that starts will generally trend lower, eventually averaging a little above 200,000 in 2008.

The merchandise trade surplus narrowed to $2.65 billion in September, the smallest surplus since December 1998. Exports fell by 2.3%, while imports rebounded by 2.2%. The strong rally in the Canadian dollar into November and robust domestic demand set up for import growth to remain firm, while the slowing in U.S. demand is likely to keep export growth limited, meaning that the trade sector will restrain the pace of GDP growth in the months ahead.

The 12.7% surge in gasoline prices and the huge 17.5% drop in gasoline prices last September pushed the year-over-year all-items inflation rate to 2.5%, the highest level since May 2006 and solidly above the Bank of Canada's 2% inflation target. Courtesy of RBC Economics

read more about Current Mortgage Interest Rates,

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?

On-Line Real Estate Newsletter sign up

See seasonal housing patterns

Sunday, December 09, 2007

FURNACE EFFICIENCY, SAFETY & MAINTENANCE

FURNACE EFFICIENCY, SAFETY & MAINTENANCE

Furnaces in homes throughout North America are cranking up for a long winter season. It is especially important to have furnaces inspected and maintained to ensure that they run efficiently and safely as we head into the colder months.

SIMPLE WAYS TO IMPROVE EFFICIENCY

By some accounts, home heating, especially gas furnaces, can represent half of a typical home's winter utilities bill. Efficient operation can mean lower energy bills and a more comfortable home. For example, programmable thermostats can be used to automatically turn heat up or down at specified times, so that the temperature is lowered overnight or while no one is at home. Thermostats should be calibrated occasionally to avoid "off cycle" heat loss; a properly calibrated thermostat will result in more even heating between the on/off cycles, which is both more efficient and comfortable.

SAFETY AND MAINTENANCE

Safety is also an important factor in furnace operation. Gas furnaces can be a source of carbon monoxide if there are leaks or cracks that go unnoticed or unrepaired. The furnace flame should be steady and burn blue; if not, this should be addressed immediately. A qualified contractor or inspector can detect these types of problems and recommend needed action.

Simple furnace maintenance includes checking and replacing disposable air filters and cleaning permanent-type filters, as well as keeping dust, hair, and lint away from the burner compartment and air intake. No matter what type it is, a well-maintained furnace will not only last longer, but can save energy, money, and help a home's overall air quality and comfort.

CONSIDERING A NEW FURNACE?

If a new furnace is necessary, it is a good opportunity to evaluate the various types of furnaces now available and how well they might meet a home's specific situation. Furnaces are defined as conventional efficiency, mid efficiency, and high efficiency. There are advantages and drawbacks to each type, some are better suited to older homes, for example, and cost may be a factor in considering various types of systems. However, the ability of some new furnaces to reduce off cycle heat loss, eliminate the need for an always-on pilot light, etc. make replacing a furnace worth considering if a current system is in bad repair or functioning poorly. Your local Pillar To Post office can provide you with additional information on various types of furnaces.
Courtesy of Glenn Blight, Pillar to Post inspections

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
› E-MAIL : mark@mississauga4sale.com8 Website : Mississauga4Sale.com

Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
On-Line Real Estate Newsletter sign up
See seasonal housing patterns

Friday, December 07, 2007

Remember Real Estate Guru Tom Vu? Here are some quotes that someone sent me - you will laugh - what a character!

Someone emailed me these quotes from Tom Vu, not sure where they came from, but anyone who is over 35 (or younger real estate investors!) will appreciate these quotes.

Quotes from Tom Vu

"Are you man enough to get off your lazy American ass and go to Vu's seminars?"
"A lot of your friends will tell you, 'Don't come to the seminar. It's a get-rich-quick plan.' Well, tell them, it is a get-rich-quick plan because life is too short to get rich slow."
"Tom Vu says his system is different than other experts'."
"Okay. You've seen me make a lot of money. You've seen my students who are average people make a lot of money. Isn't is about time for you to go out and make a lot of money?"
"There's two kinds of work in America: hard work and smart work. Which one are you doing now?"
"This is not a country club! This is my house!"
"Today I'm gonna show you how to drive a sports car. First, you need a lot of money!"
"Don't listen to your friends. They're losers!"
"Do you think these girls like me? NO, they like my money!"
"At first I got lots of discouragement from friends and stranger who are loser! You know what these people kept telling me? They kept saying, 'Well Tom Vu, you a crazy nut, here you are, a poor immigrant, poor minority, speak no English, no contact, on and on, and you trying to be rich in America! You crazy, man! Look at people out there! They smarter than you are, they not even rich! Who are you to try?' And you know what? I have to keep telling these people every time, I kept saying, 'You are loser! Get out of my way! I make it somehow!'"

You can watch part of his cheesy TV commercials and read more about Tom Vu at this page Tom Vu page

Here is some insight from a seminar attendee:

Vu's main strategy was to "control," rather than own, real estate. So you would go out looking for distressed properties, (foreclosures and such) and offer to buy these houses at incredible discounts. He claimed to never offer more than 50% of market value, but said it would depend on whether it was a buyer's or a seller's market how much your discounted offer would be.

The desperate owner would be happy to just get out of the property without ruining his credit, so he takes your offer happily. In your offer, you write that the agreement is between the seller and you "or assigns". Then you offer ten bucks as a down payment to make the contract legal ("exchange of consideration"). Your closing date is a couple of months hence. In addition, you tack on a whole pile of whim-and-fancy clauses, such as "this deal is subject to the final inspection and approval of the buyer before closing."

During the time before closing, you find a buyer to assign your interest in the contract to. Selling the place will be easy, since after all, you got it at a huge discount in the first place. You walk away at closing with a hefty profit. Unlike the vast majority of seminar attendees, I actually tried for a long time to do this in my neck of the woods, British Columbia, Canada. I failed miserably. I encountered the following realities:

1. Even with distressed properties, offering to buy a property that far below market value was a joke (I was trying 80%). I was laughed out of most negotiations…

2. Many of these properties were over financed, and even if they weren't, there was no desperate bank mandate to unload these non performing assets at all costs. Generally, even in foreclosure sales, the owner or later, the bank, wanted fair market value.

3. Whim-and-fancy clauses were not acceptable to anyone I dealt with.

This site is found at this page

Enjoy!

Mark

Read about Real Estate Foreclosures Investing

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

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

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS
RE/MAX Realty Specialists Inc.

Providing Full-Time Professional Real Estate Services since 1987
( BUS 905-828-3434
2 FAX 905-828-2829 ÈCELL 416-520-1577
› E-MAIL : mark@mississauga4sale.com8 Website : Mississauga4Sale.com

Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
On-Line Real Estate Newsletter sign up
See seasonal housing patterns

Thursday, December 06, 2007

Toronto Real Estate Board reports that GTA is on Track for a Record-Breaking Year!

Toronto Real Estate Board on Track for a Record-Breaking Year!

December 5, 2007 -- Last month became the best November on record with 7,313 resale home transactions in the Greater Toronto Area, Toronto Real Estate Board President Maureen O'Neill announced today.

"I recently reported that 2007 became the best year ever for resale transactions in the Greater Toronto Area with six weeks left to go," said Ms. O'Neill. Even more astonishing though, is the fact that eight of the 11 months so far this year set new monthly records. No other year has shown as many record-breaking monthly performances."

Sales were up 16 per cent in November compared to the same timeframe last year.

At $393,757, November's average price increased 11 per cent as compared to a year ago and remained in line with the previous month.

Some of the most significant activity in November took place in the 416 area code.

Based on strong sales in all housing types, Riverdale (E01) saw a 56 per cent increase in transactions compared to November 2006.

In the Islington/Kingsway (W08), sales rose 55 per cent over last November, driven primarily by an increase in detached home sales.

In Willowdale (C07), transactions nearly doubled compared to the same timeframe a year ago, driven by strong condominium apartment and detached home sales.

In the West part of Markham (N01), strong detached home sales led to an overall increase of 86 per cent compared to November 2006.

"We expect 2007 to be the first year ever to exceed 90,000 transactions, said Ms O'Neill. These numbers reflect the fact that people who live in the Greater Toronto Area see real estate as an excellent long-term investment."

Read more about Toronto Real Estate Board on Track for a Record-Breaking Year!

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
On-Line Real Estate Newsletter sign up
See seasonal housing patterns

Wednesday, December 05, 2007

TREB Toronto Real Estate Board reports that November was BestEver, Best Year Ever!

TREB Reports that this was the Best November Ever, Best Year Ever!

December 5, 2007 -- A record-breaking November saw 7,313 sales, driving year-to-date totals to 88,695 sales, TREB President Maureen O'Neill announced today. "We have already exceeded the 84,145 sales recorded during 2005, which was our previous record," said the President. "By the end of December we will have crossed the 90,000 sales mark for the very first time. As 2007 winds down, the GTA resale home market is looking as healthy as it has ever been."

Prices were almost unchanged in November, with the average at $393,747, down marginally from the $394,646 recorded in the previous month. It was up 11 per cent over the $355,727 recorded during November 2006. Meanwhile, days-on-market came in at 32, and the list-to-sale price ratio was 98 per cent.

Breaking down the total, 2,725 sales were reported in TREB's 28 West districts and averaged $362,272; 1,529 sales were reported in the 14 Central districts and averaged $519,841; 1,354 sales were reported in the 23 North districts and averaged $417,967; and 1,705 sales were reported in TREB's 21 East districts and averaged $311,738.

Read more about sales and stats and see a price graph

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
On-Line Real Estate Newsletter sign up
See seasonal housing patterns

Rags to riches to real estate

(NC)-Being wealthy is no longer a matter of being born into the right family but hard work stemming from a desire to do well. The 2007 Royal LePage Carriage Trade Luxury Properties Report - (conducted by (Ipsos Reid) - suggests that almost half (46%) of high net worth Canadians cite hard work as the main driver to attaining wealth, followed by the drive to succeed (27%) and a higher education (18%). Only four per cent (4%) of respondents chalk their success and their financial stability to being born into the right family, while one per cent (1%) attributes it to plain old luck.

A significant increase in the unit sales of high-end homes across Canada indicates that more and more Canadians are reaping from the rewards of their hard labour.

"Luxury living is no longer the exclusive domain of a few. Buoyant economic conditions and confidence in the market going forward have ignited a growing passion for investing in luxury property among an increasing number of Canadian families," said Phil Soper, president and CEO, Royal LePage Real Estate Services.

It is no wonder that the sales of high-end homes are booming; half (47%) of high net worth Canadians live in properties valued from $600,000 to $999,000, while 12 per cent live in homes with price tags starting at $1 million. In addition, demand for well-appointed properties remains strong with a trend of affluent Canadians owning more than one home.

More information on trends in your neighbourhood is available online at http://www.royallepage.ca/. Credit: http://www.newscanada.com/

Read more about our current marketplace statistics

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website.

Thank you for reading my blog and if there is anything else I can help you with please don't hesitate to contact me,

Mark

Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?
On-Line Real Estate Newsletter sign up
See seasonal housing patterns

Mississauga Real Estate, Homes, TREB & MLS Blog by Mark Argentino

Wednesday, December 12, 2007

Current Mortgage Interest Rates for Canada

Alberta Prices are changing - Canadian Housing Market Commentary

Tuesday, December 11, 2007

Canadian Housing Starts still high -- November 2007

Monday, December 10, 2007

Power of sale listings and prices that they sell for compared to average listing to sale price percentages in Mississauga

The table and info below is for Mississauga over the past 90 days, and you can see in the table below one can see that pos properties sell, on average for 96.99% of asking price, would this information be helpful?

Statistics

Counts

RBC report that Canadian Economy continues on a solid growth path

Sunday, December 09, 2007

FURNACE EFFICIENCY, SAFETY & MAINTENANCE

Friday, December 07, 2007

Remember Real Estate Guru Tom Vu? Here are some quotes that someone sent me - you will laugh - what a character!

Thursday, December 06, 2007

Toronto Real Estate Board reports that GTA is on Track for a Record-Breaking Year!

Wednesday, December 05, 2007

TREB Toronto Real Estate Board reports that November was BestEver, Best Year Ever!

Rags to riches to real estate

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