5-year Fixed mortgage rate as low as 3.53%

There are some great 'specials' out in the marketplace for mortgages in the
Toronto, Mississauga and GTA.

Good news,

Special 5-year fixed rate has dropped to 3.53%. Fully qualified quick
closing deal only (within 30 days).

Also variable rate P-0.40% (1.85%) with term around 2.5 years still
available. But it might ends soon.

To take advantage send me an email and I'll put you in touch with my
mortgage broker.

All the best,
Mark

Toronto and Mississauga Real Estate Market January 2010 is a far cry from January 2009

Homes sales in the GTA and Mississauga were slightly higher than the average number of home sales in the past 5 years. If you are a buyer looking for a property right now, you know that our marketplace is very fast right now and almost everything is selling very quick.

Average prices are up considerably when you compare January 2010 to January of 2009, but the period from October 2008 to January 2009 was dismal.

In fact January of 2009 was the bottom of the slump in our market, the outlook for real estate was dismal. One year later and the outlook is incredibly different, you won't find many people who are not optimistic on real estate in Mississauga and Toronto for 2010

All the best,
Mark

Greater Toronto REALTORS® reported 4,986 transactions through the Multiple Listing Service (MLS®) in January 2010.

This result represented a large increase over the 2,670 sales in January 2009 when the home sales were in a recessionary trough. Last month’s sales were slightly higher than the January average in the five years

preceding 2009.

“The GTA housing market has rebounded well from the lows in sales experienced at the beginning of 2009. Sales climbed back to healthy levels across the GTA because the cost of home ownership remained affordable in the Toronto area,” said TREB President Tom Lebour.

“Increasingly confident consumers moved to take advantage of affordable home ownership.”

The average home selling price in January 2010 climbed 19 per cent to $409,058, compared to 343,632 in the same month last year.

“Expect strong annual growth rates for existing home sales and average price through the first quarter as we continue to make comparisons to the weak market conditions at the beginning of 2009,” said Jason

Mercer, TREB’s Senior Manager of Market Analysis. “The rate of sales and price growth will be lower

Strong start to 2010 Residential Real Estate in Toronto and Mississauga

These are the stats for January 2010, the Toronto and Mississauga Real Estate Marketplace began with a very strong start. Prices are up compared to same month in 09 and so are number of sales. We expect 2010 to be a strong year in real estate sales.

All the best!
Mark

GTA REALTORS® REPORT JANUARY RESALE HOUSING MARKET FIGURES

TORONTO, February 3, 2010 -- Greater Toronto REALTORS® reported 4,986 transactions through the Multiple Listing Service (MLS®) in January 2010. This result represented a large

increase over the 2,670 sales in January 2009 when the home sales were in a recessionary trough.

Last month’s sales were slightly higher than the January average in the five years preceding 2009.

“The GTA housing market has rebounded well from the lows in sales experienced at the beginning of 2009. Sales climbed back to healthy levels across the GTA because the cost of home ownership remained affordable in the Toronto area,” said TREB President Tom Lebour.

“Increasingly confident consumers moved to take advantage of affordable home ownership.”

The average home selling price in January 2010 climbed 19 per cent to $409,058, compared to 343,632 in the same month last year.

“Expect strong annual growth rates for existing home sales and average price through the first quarter as we continue to make comparisons to the weak market conditions at the beginning of

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 2010 Calendar?

How to find Tax Sale Properties in your Municipality

In order to find tax sale properties in your area, you have to contact each municipality, this is not an easy task!

Read more about the process here:

http://www.mississauga4sale.com/Power-Sales-TAX-Sales.htm

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

Thank you,

Mark

Why does maintenance fee show $0 for many power of sale properties?

This is a common question that I receive about POS properties and zero maintenance fees on the mls listing.

Hello Mark,

Thanks for your daily information and sure helps...I have a question for you some of the listing says $0 maintenance fees what does that really mean? Is it that the POS includes the maintenance fees for one year?

My answer is:

Hi B.

Thank you for your real estate inquiry.

The maintenance fee shows $0 because the bank does not want to take any responsibility for any oversight or underestimate of the fee, so they put $0.

We/You have to find out from us what the average is for that type of unit.

When you submit your offer, we will receive a status certificate that shows the exact fee for that particular unit.

Mark

$1500 extra taxes due to HST in real estate transactions in Toronto and Mississauga

HST is coming to Ontario July 1st, 2010 whether we like it or not.

The HST effectively combines the 8% Provincial Sales Tax (PST) and the 5%
Federal Goods and Services Tax (GST) for a combined 13% sales tax rate known
as the Harmonized Sales Tax (HST).

The HST will apply to a number of goods and services that are currently
exempt.

For housing in Ontario, the HST will add 8% more tax on any services related
to real estate transactions, such as real estate commissions, legal fees,
home inspections and moving costs.

It is estimated by OREA that the HST will add about $1500 in additional
taxes to the cost of the average residential real estate transaction.

It is expected that there will be a surge in sales this spring to avoid the
HST that becomes law on July 1st.

All the best!
Mark

Power-of-sale, Foreclosure, Foreclosures and quit claim question

this was one of those feel good letters I just received from a person and
thought I would share the information with you
Enjoy!
Mark

Mark,
You have one of the best site for general information and quality for make a
house sold.

My name is A .G., I am the mortgage holder of this house that we sold in T .
Ontario about three years go'.

The people in the house have develop financial problems. They start running
too many charges where now start default in not making the payments.

My question is: should I execute Power of sale or in return to have the
house with list damage I should accept the quit claim. Read about Power of
Sale and quit claim on my site here:
http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm

They have zero equity in this house. They only put down $5000 on house price
of 220,000. The command price in the house is less now then when was sold.

I wish you were here and I would hire on the spot. Your luggage of
information is outstanding

Thanks,
A.

step by step outline on how to become a real estate broker in Ontario

Hello Mark:

As a fellow engineer, I'm hoping you could provide me with a step by step
outline on how to become a real estate broker in Ontario. I would like to
start part time until I have enough experience to write the brokers exam.
Any assistance is appreciated.

Thank you.

Jim

My answer:

Hi Jim,

Thank you for your email. Licensing in Ontario is governed by the Ontario
Real Estate Organization.

I have a section just for people like you with questions about how to obtain
their real estate license:
http://www.mississauga4sale.com/how-to-become-a-real-estate-agent-realtor.ht
m
Their website has a step by step outline,
I wish you all the best!
Mark

Should I lock in at 5 year or variable mortgage interest rate?

Another great question from an interested reader, and my answer below

Hi Mark,

After looking through a whole bunch of Google results, I found yours the
most intelligent and sensible. So, if you don't mind, I would like to ask
you this at this point in time, as your posting is somewhat old:

I am being offered these two options before my March 2 renewal date on a
$202,000 mortgage with 23 yr. amortization:

1). 5 Year Closed @ 3.81% - 23 Year Amortization with Weekly Regular
Payments: $252.77

2). 5 Year Variable @ Prime Minus 0.35% (currently 1.90%) - 23 Year
Amortization with Weekly Regular Payments: $208.32

Which one would YOU choose?

Thanks.
--
H.S.A. Harry, Calgary, Alberta, Canada

Hi H .,

I am a firm believer in paying that mortgage off. We may never see today's'
rates again. I would go with option 2 and have your bank lower your
amortization on renewal until the payment is $250 per week. This should
reduce your amortization to about 18.2 years, see the calculator here:
http://www.mississauga4sale.com/mortgage-amortization-creator.htm

Then in 5 years when it comes time to renew, you will only have 13 years
left to go on your mortgage.

Even if the prime rate increases, which it is supposed to, the 5 year
variable has to climb to about 5.5% for you to be even compared to the 3.81%
mortgage for 5 years and you will still be ahead of the game. Reason is, it
may take 2 years to reach 5.5%, if ever, and then you have saved a pile in
interest in the first 2 years of your mortgage. You should be earning more
in 2 years from now and look at it as an investment in yourself.

Also, in 3 years, you can renew that 5 year mortgage and who knows, there
may be some good specials out there that you can take advantage of.

You should be better off in the long run going short term, read my
experience here:
http://www.mississauga4sale.com/Lock-In-Short-Term-Long-Term-Mortgage.htm

All the best!
Mark

Current Mortgage Interest rates

Mortgage interest rates are changing almost weekly.

Please browse and
http://www.mississauga4sale.com/Rates-Current-Posted-Mortage-Interest-Rate.htmview the current mortgage interest rates and how they have changed over
the past few months.

You can view and compare Today's Low Canada and Ontario Current Mortgage
Interest rates from major lenders for discounted, variable, fixed and prime
rates in Canada and a mortgage calculator at this page:


http://www.mississauga4sale.com/Rates-Current-Posted-Mortage-Interest-Rate.htm

Any time you have questions about interest rates, please let me know. As an
experienced RE/MAX(r) agent who has helped many people purchase homes, I
have every confidence that I'll be able to help you find what you're looking
for as long as we work together and keep in frequent contact.

I look forward to our next meeting. Please feel free to call or email me.

You may sign up to my monthly real estate newsletter using this link:
http://www.mississauga4sale.com/popupquestion.htm; On-Line Real Estate
Newsletter sign up

Or you may wish to receive new
http://www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm
Power of Sale Listings twice per week.

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