The 5 year mortgage interest rate has dropped again - now 4.19%

and we should see more rate drops over the next couple of months.

These are the current

Residential Mortgage Rates

Effective August 11, 2009

Term	6 Month	1 Year	2 Year			5 Year			Variable Rate
Posted Rates	5.10%	4.10%	4.25%			5.85%
Best Rates	4.60%	2.75%	3.05%			4.19%			2.65%

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
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 : mailto:mark@mississauga4sale.com?subject=Mississauga
Website : 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 ?
• Power of Sales and Foreclosures
• 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
• See seasonal housing patterns
• Would you like me to send you a 2009 Calendar?

Gen X is flexing their new real estate purchasing muscle

Gen X is flexing their new purchasing muscle

Our internal survey of RE/MAX offices across the country have reported that Generation X purchasers are poised to replace aging baby boomers as the major force in recreational property markets across the country.

This demographic shift was originally noted in our 2009 RE/MAX Recreational Property Report highlighting sales, pricing, trends and developments in 50 Canadian markets. Our report found demand from Gen X (those born between 1965 and 1980) has nearly doubled over one year ago. Seventy-four per cent of markets surveyed this year reported a marked trend toward thirty-something buyers snapping up affordably-priced product, ranging from waterfront cottages to resort condominiums, compared to just 40 per cent in 2008.

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
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 : mailto:mark@mississauga4sale.com?subject=Mississauga
Website : 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 ?
• Power of Sales and Foreclosures
• 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
• See seasonal housing patterns
• Would you like me to send you a 2009 Calendar?

Mortgage rate update - Rates drop again

Hello,

The mortgage interest rates just dropped again. Please see below.

1. Limited time: Variable rate @ P+0.25%, with the term less than 3 years.
This is great if you would like to take advantage of low variable rate, but
don't want to lock in 5 years term.
2. 5-year variable rate @ Prime +0.2%
3. 1-year fixed rate @ 2.70%
4. 2-year fixed rate @3.05%
5. 3-year fixed rate @ 3.55%
6. 4-year fixed rate @3.99%
7. 5-year fixed rate @3.89%


Please don't hesitate to contact me if you need any assistance with
mortgage financing .

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

<http://www.mississauga4sale.com/selling-process.htm> Thinking of Selling?
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<http://www.mississauga4sale.com/mortgage-rates-mark.htm> Current Home
<http://www.mississauga4sale.com/TREBprice.htm> Prices Search MLS
<http://www.mississauga4sale.com/mls-ca-real-estate-mississauga.htm>
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<http://www.mississauga4sale.com/internet-evaluation.htm> & Quick
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Mississauga Real Estate Commission Rates and Information Request

Here is a typical question that I receive about commission rates

Dear Mark,

Can you tell me who sets the commission rates for selling residential homes?

Thanks,

DF

Hi D.F.,

There is no set commission, setting commission rates is against the law and the Anti Combines Act and a few other laws in Canada.

There are typical rates and regional variations in rates, but they are never fixed. Commission can be zero to 10% or higher.

I hope this helps.

You can read more about commissions at this page of my site: http://www.mississauga4sale.com/commission.htm

Thank you,

Mark

Toronto and Mississauga Mortgage Rate Update

Hi there,

Hope you are doing well in this hot market. The followings are the
up-to-date rates.

1. Limited time: Variable rate @ P+0.25%, with the term less than 3 years.
This is great if you like to take advantage of low variable rate, but don't
want to lock in 5 years term.
2. 5-year variable rate @ P+0.25%
3. 1-year fixed rate @ 2.70%
4. 2-year fixed rate @3.05%
5. 3-year fixed rate @ 3.55%
6. 4-year fixed rate @3.99%
7. 5-year fixed rate @4.10%

All the best!
Mark

Longevity and long range planning

Hello:

This article just came through my email and I thought I would share it with you. It's very interesting. Makes you think that you had better make a "longer' range plan than first anticipated. I still feel real estate investment is the way to go, but many will not agree.

Only time will tell and by the looks of it, we'll have lot's of it!

All the best,

Mark

---

Tomoji Tanabe died in his sleep this past June 19th. A resident of Japan, he was the world's oldest man at 113. He drank milk every day, avoided alcohol, and did not smoke.

His successor as the world's oldest man was Henry Allingham, a resident of England who was also 113. Henry attributed his longevity to "cigarettes, whiskey and wild, wild women".

I'm pretty sure the secret to a long life is a large measure of luck.

When we are young we tend to think of life as a long journey with no end in sight. It is something we look forward to and we don't worry about it. As we approach retirement we still look forward to a long life but we start to worry about just how long it might be.

You are going to hear the word "centenarian" more and more in the future. It refers to those who have reached the age of 100 - a milestone we think of as being quite rare. In the 1950s there were only a few thousand people over the age of 100 in the world.

Some experts are predicting that there will be one million (1,000,000) centenarians in the US by 2050. This means that one million people in the US in their early 60s are looking at another 40 or more years of life. On a global basis it is expected that there will be more than five million centenarians by 2040.

While luck definitely plays a role in longevity so do advances in medicine, technology, food supply and physical fitness. The one element that may impact longevity the most is that of nano technology - literally microscopic intelligent machines that may be injected into our bodies to address a myriad of health issues.

All of this begs the question: just how much life can I afford to live?

It looks like Spock had it right when he said "Live long and prosper".

---

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
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 : mailto:mark@mississauga4sale.com?subject=Mississauga
Website : 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 ?
• Power of Sales and Foreclosures
• 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
• See seasonal housing patterns
• Would you like me to send you a 2009 Calendar?

Bank of Canada Announcement on Interest Rates

This is the latest news

The Bank of Canada announced this morning that they are maintaining the overnight rate target at .25%; and have confirmed their conditional commitment to hold the current rate policy until June 2010. The full announcement can be viewed at:

http://www.bank-banque-canada.ca/en/fixed-dates/2009/rate_210709.html

Several lenders have made adjustments on their variable rate pricing. We've seen the pricing variance change from prime 'less' to prime 'plus' in the last year.

Currently the movement has been to reduce the variance from Prime plus .60% to rates as low as Prime plus .30%.

Did you know.....for large mortgages most of the schedule A banks have limits on maximum mortgage amounts, especially if the mortgage is not insured?

Typically, a sliding scale is used to determine the maximum lending amount. For example: 80% of first $750,000 and 50% of balance (the scale varies by lender).

In the case of a $1Million purchase price - the maximum mortgage allowed would be $725,000 versus $800,000 financing available with a 20% down payment (conventional mortgage)

There are lenders, offering very competitive interest rates, who will allow up to 80% financing with a maximum mortgage amount of $1.5 million (on purchase of $1,875,000). This is available, to qualified borrowers, without requiring CMHC insurance. These are unique situations - if you require this type of financing, please contact me.

Thanks and have a great day!

Mark

2009 and 2010 Real Estate Market Predictions and general economic predictions

For the past 4 years I have looked into my crystal ball and given my predictions ahead for the Mississauga and GTA real estate marketplace and the general economy.

This year I have waited until July to write my predictions for the next 12 to 18 months and you can find them here:

http://www.mississauga4sale.com/Toronto-GTA-Real-Estate-Market-Predictions-2009.htm#2009

Enjoy!

I would love to hear your comments or predictions for our future.

All the Best!

Mark

Be careful when using and quoting TREB stats and press releases

I was asked:

Is this information, that is in the News and on the 'net, abound house prices
and multiple offers, true?
If so, could my house value really have gone up
more than 16% this year. If so, what was the benchmark to start from.
16% on
top of zero is still only 16%, however, 16% on top of 1 Mill. is a lot.
OR.....is this a bunch of "feel good BS" from the likes of Stats-Can.

Good question:

Yes, be careful about the reported real estate prices, the stats are often mis-quoted

When TREB reports 16% they are usually reporting that sales VOLUMES have increased 16% compared to the same month last year

Prices are currently UP about 4 to 5% since the low of January of this year after falling about $50,000 (from about $398k in April of 2008 to just under $350k in January of 2009) which is a drop of about 12% so we are still down compared to the zenith in spring of '08

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

TREB often reports that real estate is up, say 10%, but they are often referring to the sales volumes, not the prices. The average price is really only that, an average price, and areas can vary widely from the average. As well, you only need a few million plus dollar sales in one area to increase the average price in an area substantially, so again, be careful when using averages for your immeditate area.

Average prices are useful to watch trends over time.

Enjoy!
Mark


again, sent with mark@mississauga4sale.com and not the hotmail crap



--------------------------------------------------------------------------------







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

RE: Power of Sale Listing

This is another power of sale question that I thought I would share the answer with you.

Dear Mark
I found your information on Power of Sale are excellent.
Just wonder if purchaser needs to pay GST when buying a property from Power of Sale.
Kindly advise.
Best Regards
L.C.

Question was:

Hello L.C.,

Thank you for your real estate inquiry. You do not have to pay GST on a POS property purchase, similar to most resale purchases.

Please let me know if you have any other questions or if there is anything else I can help you with.

Thank you again for contacting me and I will do my best to help you with your real estate needs,

Mark

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

Thinking of Selling? Best Mortgage Rates Current Home Prices Search MLS Newsletter
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 : mailto:mark@mississauga4sale.com?subject=Mississauga
Website : 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 ?
• 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
• See seasonal housing patterns
• Would you like me to send you a 2009 Calendar?