New mortgage interest rate promotion P-0.05%

I just received an email from a mortgage broker I know who has a great promotion on rates.

It's for the 4-year variable @ Prime -0.05% (2.20%) or Prime-0.20% first year and Prime for the next 3 years.

The sale must be closed within 45 days.

Great fixed rate option is: 3-year fixed @3.39%.

Please let me know if you are interested and I will put you in contact with this mortgage broker.

Thank you,
Mark

I hope this finds you Happy and Healthy!

All the Best!

Mark

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

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
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• Would you like me to send you a 2009 Calendar?

Does GST apply with the sale of a Power of Sale Property?

I received the following question about GST and POS properties

Hi Mark,
I cam across your website with information about Power of Sale homes.
I was wondering if GST gets charged on a house that is listed as power of sale if it is a resale home (not from the builder).
Thanks!

S.

Hello S,

Thank you for your real estate inquiry. Generally, no GST is applicable. If the owner of the house selling under POS has performed extensive renovations and alterations, GST may apply, otherwise in 99% of the cases it does not apply

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?

Current mortgage interest rates in Toronto area plus incentives offered by CMHC

These are the current mortgage rates in the GTA and some incentives offered by CMHC

Here are some of our current promotions and rate sheet:

CIBC's up to 7% Cashback: can be use as a down payment up to 100% financing.
CIBC $500 Cashback for First time home buyer

And more...

Rate sheet:
Variable closed 2.35% prime + .10%
Fixed:
1 Year/ 2.70%
2 Year/ 3.60%
3 Year/ 3.70%
4 Year/ 3.69%
5 Year/ 3.84%

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?

20 Offers on a property in Mississauga - September Toronto and Mississauga Real Estate News

September News: Greetings from Fabulous Mississauga!

If there is any doubt whether real estate prices are rising, you don't have to look far to find evidence of this fact. Over the long weekend a semi detached property in Mississauga that was listed for $369,900 had 20 offers on it and it sold for $401,000! Sounds more like Toronto than Mississauga :-))

The statistics for last month are out and average GTA sale price and volumes are at or near all time highs, see this page for latest market stats and results from this record month

Mortgage interest rates have fallen slightly or have been stable over the past month or so, even though the bank rate has remained steady.

Any way you look at it, interest rates are at or near all time lows with bank prime at 2.25% , read more.

Our market continues to do very well, prices are up and so are sales volumes.

My observations for the Mississauga marketplace is that we continue to see that prices continue to be strong and rising in many areas. Moderately of course, but still, they are rising.

It will be interesting to see what the next quarter brings as the fall market is typically a strong period in our market.

You are reading the latest newsletter

September Report

September Resale Housing Results Brings More Positive News

GTA REALTORS® report high sales volumes last month

TORONTO, September 2, 2009 -

In August 2009, Greater Toronto REALTORS® reported 8,035 sales, up 27% per cent from August 2008. The average price for August transactions was $387,921 – up by six per cent compared to the same month last year.

"The increase in demand for existing homes has been widespread across different housing types and price ranges," said TREB President Tom Lebour. "This suggests many categories of home buyers have chosen to make a long-term investment in housing, from first-time buyers to move-up buyers or buyers who are seeking a lifestyle change."

Year-to-date sales, at 58,421 were up two per cent compared to the first eight months of 2008.

Average price, at $385,978 was up by less than one-half of one per cent.

"We have heard more positive economic news lately. The improved housing market has played a key role,” explained Jason Mercer, TREB's Senior Manager of Market Analysis. "Home sales have helped other sectors of the economy through home buyers’ spending on things like financial and legal services, moving, renovations and home furnishings."

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?

August Residential Real Estate Resale Market Figures show strength

The statistics are out for August and it was another very good month for real estate in the Toronto and GTA

GTA REALTORS® Report August Resale Market Figures

TORONTO, September 2, 2009

- In August 2009, Greater Toronto REALTORS® reported 8,035 sales, up 27% per cent from August 2008. The average price for August transactions was $387,921 – up by six per cent compared to the same month last year.

"The increase in demand for existing homes has been widespread across different housing types and price ranges," said TREB President Tom Lebour. "This suggests many categories of home buyers have chosen to make a long-term investment in housing, from first-time buyers to move-up buyers or buyers who are seeking a lifestyle change."

Year-to-date sales, at 58,421 were up two per cent compared to the first eight months of 2008.

Average price, at $385,978 was up by less than one-half of one per cent.

"We have heard more positive economic news lately. The improved housing market has played a key role," explained Jason Mercer, TREB's Senior Manager of Market Analysis. "Home sales have helped other sectors of the economy through home buyers’ spending on things like financial and legal services, moving, renovations and home furnishings."

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 interest rates continue to decline

Good afternoon,

With the GTA real estate market as hot as it is, it is hard to imagine mortgage rates dropping, yet they have been slowly moving back downward since the spike we saw in the springtime. The regular 5 year fixed rate has now reached 4.19%

We can now find 5 year rate special s available for 3.99% for any of your mortgages closing by October 30th.

The 5 year variable rate has now dropped to prime +0.20%. (4.45%).


So how far will the rates continue to drop? That still remains to be seen. It really is hard to imagine them dropping much further with the market where it is and with the economy now starting to show signs of improvement.

While I don't think rates are going to start skyrocketing any time soon, we need to continue using the low rates we are experiencing to continue fueling the real estate frenzy we are now experiencing.


Today's lowest rates:


1 year fixed 2.55%
2 year fixed 3.05%
3 year fixed 3.39%
4 year fixed 3.85%
5 year fixed 3.99%


5 year variable 2.45% (prime +0.2)


Quote of the week: "The person who gets the farthest is generally the one who is willing to do and dare. The sure-thing boat never gets far from shore" Dale Carnegie

All the Best!
Mark

GTA mortgage interest rate update

Today's current interest rates

TERM	POSTED	OUR RATES*
6 Month	4.60%	3.75%
1 Year	3.75%	2.65%
2 Year	4.05%	2.85%
3 Year	4.65%	3.34%
4 Year	5.14%	3.89%
5 Year	5.85%	4.02%
7 Year	6.80%	5.15%
10 Year	6.90%	5.25%
Variable Rate		2.55%
Prime Rate		2.25%

* Rates may vary and are subject to change without notice OAC.
Rates Last Updated: Thursday, August 27, 2009

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?

GTA Real estate market boom

Hello,

I thought I would share this email with you, positive news and good advice for all from a mortgage broker that I know.

As you are of course aware, July was yet another record month for real estate sales in the GTA with an increase of 28% over July 2008. This hot streak continues into August with sales up 27% to date compared with the first two weeks of August 2008.

The only problem now is the lack of market inventory, however with such a strong sellers market, the time is perfect to present the market facts to potential sellers.

It can be very easy to become busy during a real estate boom, but it is important to keep prospecting. One mistake that many salespeople (and small businesses alike) tend to make is that when things get busy, they become complacent believing that the business will just keep coming in. They cut back on (or even eliminate) their promotional efforts. Busy streaks of course do not last for ever. The best way to keep a busy streak going is to set aside a period of time each day (or even each week) to focus on prospecting and lead generation.


We have seen some decreases in mortgage rates over the past few days, particularly in the 5 year fixed quick close at 4.09%, three year at 3.39% and the ARM has dropped 5 basis points to 2.55%.


Today's lowest rates:


1 year 2.75%
2 year 3.05%
3 year 3.39%
4 year 3.85%
5 year 4.09%
5 year ARM 2.55% (prime + 0.30)

Quote of the week: Do a little more each day than you think you possibly can. Lowell Thomas, author

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?

3,393 sales reported to the Toronto Real Estate Board so far in the first 13 days of August.

We have a very strong number of 3,393 sales reported to the Toronto Real
Estate Board so far in the first 13 days of August.

WE can estimate we'll come in around 7,500 to 8,000 sales for this month
which easily beats last August (6,318) by about 22%. The best August on
record was 2007 with 8,059 so there's a small chance we'll beat that.

I'm confident the sales numbers would be much higher if there were a little
bit more inventory available. Currently we have only 16,400 homes for sale.
This is approx 3,000 or 14% fewer than that crazy August in 2007. Inventory
numbers are critically low.

As we all know the "real inventory" (fairly priced homes in a decent area in
decent condition) is turning over immediately with multiple offers. There
has been no summer lull this year. The fall is going to be very interesting!

Another interesting tidbit: We have 8,600 or 35% fewer homes for sale now
than 2008.

Moral of the story: Better get out there and buy a house!
All the best,
Mark

GTA REALTORS Sales and Sales volumes Report August Mid-Month Resale Market Figures

August is starting out with a surge, prices are up as are sales. Good indication of start of fall market.

GTA REALTORS® Report August Mid-Month Resale Market Figures

TORONTO, August 18, 2009 - In the first two weeks of August, Greater Toronto REALTORS® reported 3,832 sales – up 27 per cent compared to the first two weeks of August 2008. The average price for these transactions was up three per cent year-over-year to $383,796.

"The results for the first half of August indicate that many households in the GTA remain confident in their ability to purchase and pay for a home over the long term," said TREB President Tom Lebour.

Year-to-date sales, at 54,303 are up slightly compared to 54,138 in 2008. Average price, at $385,603 is down by less than one half of one per cent.

"Strong resale housing demand will contribute to broader economic recovery as each transaction results in substantial spin-off benefits to other sectors of the economy," explained Jason Mercer, TREB's Senior Manager of Market Analysis.