Tuesday, April 27, 2010

Mortgage interest rates in the GTA - 5 year closed rate at 3.79%

As part of my obligation to provide you with excellent service, today I have received notification from 2 major banks, Royal Bank and TD Canada Trust that further increases in mortgage rates are occurring.

Over the past 4 weeks rates have moved from the upper 3% range to the mid to upper 4% range. These changes are significant.

As of equal significance is one company that I work with called AstrumStar and their rates are still excellent with the AstrumStar 5 year closed rate at 3.79% and the AstrumStar 3 year variable rate at prime minus 0.9% - yes 1.35%.

Yes these rates are available to those who transact through me. Let me know if you are interested and I will send you details.

Thank you,
Mark




Toronto Real Estate Board (TREB) Average Prices and GraphFor more information please contact A. Mark ArgentinoA. Mark Argentino, Broker, P.Eng.,Specializing in Residential & Investment Real EstateRE/MAX Realty Specialists Inc., Brokerage2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1BUS. 905-828-3434FAX. 905-828-2829E-MAIL: mark@mississauga4sale.comWebsite: Mississauga4Sale.com

Thursday, April 22, 2010

Mortgage interest rates, The Bank of Canada and our current GTA real estate marketplace

Hello,

Houses sales will slow down when interest rates increase.

Many people are hoping that the real estate market slows down, they feel things are too fast and hot and the recent increases in real estate prices have caused more inflation in Canada than the Bank of Canada wanted or anticipated.

The Bank of Canada announced on Tuesday that although they promised to not increase the prime interest rate until July 1 of this year, they said that they may "break that promise" and increase the bank prime rate at the beginning of June. Their reason is that the economy is too hot and the inflation rate is currently too high, above their target inflation rate.

By increasing interest rates, this will increase mortgage interest rates and less people will be able to afford to buy a home so the real estate market will slow down. This is what the Bank of Canada wants to happen and many others want to happen. They feel the inflation rate is getting too high.

When interest rates go up, this always means that people who are barely able to afford a home will not be able to afford a home ( or at least afford less), they will not be able to purchase or will have to purchase at a lower price and this will have a negative ripple effect on the entire marketplace and the real estate market will slow down. Prices may not fall right away, but they will stop increasing and the demand will decrease.

Also, July and August are typically the two slowest months in real estate (next to December) so the seasonal real estate slowdown along with increased interest rates plus the HST coming into effect July 1 will most likely slow our real estate marketplace.

I hope this helps explain things to you! :-))

Thank you,
Mark

Wednesday, April 21, 2010

Number of sales in the GTA is dramatically increased compared to the same period last year

This chart below clearly shows that the number of sales in the GTA is dramatically increased compared to the same period last year. New listings are also up, but active listings are down, meaning that there is much more demand than supply and this is why prices are rising.

You will also note that the average days on the market is half of what it was a year ago, again, this indicates that the market is very fast right now.
All the best!
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, April 20, 2010

New CMHC Rules for Self-Employed

Dear Reader,

New CMHC Rules for Self-Employed Borrowers in effect TODAY

New rules for self-employed borrowers are effective today Friday, April 9th,
2010 for all mortgages insured by by Canada Mortgage and Housing Corporation
(CMHC) and pose new challenges for this category of clients.

*Purchases are only available up to 90% (previously 95%)

*Refinances are only available up to 85% (previously 90%)

*Commissioned sales borrowers are no longer eligible under this program

*A minimum of 2 years consecutive self-employment will no longer be required

*Borrowers must have a minimum of 2 years work experience in the same field

Now, self-employed and commissioned-income borrowers with more than three years in the same business applying for a mortgage, are required to provide traditional proof of income (or "third party validation") through documents like financial statements, T1 Generals, Notice of Assessments and T4s etc.

PLEASE NOTE: Genworth Financial Canada's (GNW) policies remain unchanged and self-employed applicants who have been in business for 2 years or longer continue to be eligible BUSINESS FOR SELF (ALT. A) program that means more Choice & Convenience for your potential clients.

TROUBLE GETTING FINANCING??? Have you been turned down lately?

We Can Help You!

6 mon 3.85

1 year 2.49

2 year 2.95

3 year 3.29

4 year 4.09

5 year 4.19

7 year 4.95

10 year4.99

Prime Rate 2.25% prime -.50% = 1.75%

* No charge for qualified applicants

* 1st & 2nd Mortgages

* Up to 120 days rate guarantee

* 24Hour Mortgage Approval

* Mortgages on all types of Property (Industrial, Commercial
Residential).

* Up to 7% Cash back for qualified applicants

* Secured Lines

Mark

Monday, April 19, 2010

5 year mortgage interest rates on the rise again

Royal Bank and Scotia bank have increased their 5 year fixed mortgage
interest rate by 1.4% - the slow but steady rise in rates is in progress,
within a few months you can expect posted 5 year rates over 6%

The table below shows what is posted and what is attainable in the
marketplace, OAC of course! :-)

All the best,
Mark


Term 6 Month 1 Year 2 Year 3 Year 4 Year 5 Year 7 Year 10
Year Variable
Rate Prime
Rate
Posted Rates* 5.10% 4.10% 4.25% 5.05% 5.25% 5.85% 6.80%
6.90%
Best Rates* 4.59% 2.65% 2.95% 3.69% 4.09% 4.39% 4.95%
5.19% 1.85% 2.25%

Sunday, April 18, 2010

How to Pay down your mortgage faster

How to Pay down your mortgage faster


Buying a home is probably the best investment you will ever make. That's because you can pay off your mortgage and build equity in your home over time. Renters on the other hand will continue to pay rent and will likely see their rent payments increase significantly as time goes by.


From the moment you make that first mortgage payment, you will probably be dreaming of the day when you can make your last one and be "mortgage-free." For most people that day is pretty far off in the future, but it is possible to speed up the process.


Your REALTOR® will be able to advise you on ways you can pay down your mortgage as quickly as possible. This information will be helpful when you are arranging financing on your home. Be sure to discuss various options with your financial institution before choosing a mortgage.


Amortization schedule
One of the best ways to pay off your mortgage faster is to shorten the "amortization period." By choosing a shorter amortization, you will not only pay for your home in less time, but you will make substantial savings in interest too.


For example, the most common mortgage amortization is 25 years. By shortening that period to 15 years, you will erode the amount of money you owe much more quickly and make fewer interest payments. Shortening the amortization period is not for everyone as it does mean larger payments, but for many people the benefit of long term savings is worth it.


Usually each mortgage payment is blended and applied to both the principal and interest so at the beginning, the interest portion of the payment is extremely high. However, with each payment, more and more of is applied to the principal. Ask your REALTOR® to give you examples of what your payments would be at the current interest rate amortized over 25 years as compared to 15 years.


Payment options
It used to be that most people made monthly mortgage payments, but weekly, bi-weekly and semi-monthly payments are more popular today. With these types of payment options you will reduce the amount of principal you owe faster because you make payments on a much more frequent basis and less interest is accrued. Many mortgages also offer homeowners the option of making an additional payment each year or increasing your payment each month. Making the equivalent of one extra payment a year can save you a considerable amount over time.


Anniversary date
Many mortgages allow you to make a lump sum payment on the anniversary date of your mortgage. Again this reduces the amount of money you pay interest on resulting in long term savings. It's wise to find out what "pre-payment" privileges are available on the mortgage you choose.


Your REALTOR® along with either your bank, trust company or mortgage broker can help you look at all the possibilities for financing your home and can tailor a mortgage that fits your income and your goals.


Shop around
Look for a mortgage that has as much flexibility as possible. Be sure you can make at least one extra payment a year and can choose the payment plan that works best for you. Your REALTOR® is experienced and knowledgeable about the many mortgage options and the types of payment plans available and can act as your guide to help you become mortgage free sooner.


Read more about how to pay down your mortgage faster


Read more about:Homes for Sale



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
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com



Homes for Sale

Saturday, April 17, 2010

Landlord Services Property Management Tenant Matters

You may require Landlord Services for Property Management of your investment property here in Mississauga. I can help you collect rent from Tenants, manage the property, pay bills, and legal action on your behalf against bad tenants

You may want to read about

Read more about:Homes for Sale

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
mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Homes for Sale

Friday, April 16, 2010

Do you receive these types of junk emails?

Do you ever receive emails such as this one below?


Hello My Good Friend,

Season Greeting from Mr. Williams who contacted you long ago, i'm happy to inform you that I have succeeded in moving those funds out with a new helper from South Korea, whom based on agreement received %30 of the entire money for his financial involvement and efforts. I have since embarked on an Electronic Company projects with my share of the money. Meanwhile, I did appreciate your efforts and attempts to help move the funds even though we couldn't realize it together, meanwhile I kept total of $800.000 bank draft for your compensation. Go ahead and write to my Secretary in Benin Repuplic. his name is Mr Edwin on (edy_y2k32007@yahoo.dk) Fone number as follows: + 229 93 48 40 64. Contact him with the following informations:

Your full name:

Your delivery address:

Your phone number:

Please accept it in good faith. Let me know when you get it for us to share the joy.I'm busy here with the investment projects, I had forwarded instruction to him concerning your bank draft, So he will send the amount to you.

I remain your friend,
Mr. Williams

_____________

If you receive emails like this or similar to this, do not respond! Do not email the person to go away or that it's a fraud. This will only indcite the person and they will send you more of these types of emails.



All the best,

Mark



A. Mark Argentino
P. Eng. Associate 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

Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?



P. S. 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

Thursday, April 15, 2010

Mississauga is a Great Place to Live!

This is from the Mississauga city website, but only in pdf format, so I thought I would add it to my blog, enjoy!

Mark

Mississauga is A Great Place To Live

This profile contains an Overview of Mississauga, information on Tourism, Downtown Mississauga, Education, Health Care, Housing,

Public Safety and, Police and Fire Protection.

Overview

· The City of Mississauga is Canada's 6th largest city and one of its most successful communities.

· What factors go into building a successful community? Business-friendly local government, competitive tax and utility rates, an

extensive telecommunications infrastructure, exceptional City services, quality housing options, natural local settings, great

community amenities, and excellent transportation links including Canada's largest international airport - that's why Mississauga is

the location of choice for families and for growing companies.

· Mississauga is a great place to live with strong communities, a wide selection of excellent housing, shopping and great schools.

· There is an active cultural life with galleries, theatres, art centres, concert halls and museums.

· The beautiful Credit River valley provides scenic recreational parkland and its clean waters are excellent for fishing. Two marinas

along the shores of Lake Ontario provide outdoor leisure opportunities.

· There are more than 480 parks and 23 major trail systems. Mississauga is part of an extensive 280 mile waterfront trail that passes

through lakefront parks and marinas.

· 11 Community Centres are located throughout the city, along with city run facilities such as arenas, swimming pools, fitness

centres, golf courses, tennis courts, baseball diamonds, soccer pitches and much much more. For a complete list of city facilities,

go to www.mississauga.ca >residents>recreation and parks

· The Mississauga Library System is one of the largest public library systems in Canada with over 300,000 users, 16 branch libraries

and a multi-floor central library. For further information, visit www.mississauga.ca/library

· We are also Canada's safest city for the 7

th

year in a row, as documented in a national study based on crime statistics from major

cities across the country.

· The City of Mississauga won the 2006 World Leadership Award for its Healthy City Stewardship Centre initiative aimed at bettering

the health of Mississauga residents. In collaboration with the University of Toronto, 14 key organizations came together to work

toward improvements in local health and developed the Healthy Mississauga 2010 Plan. The plan will help the City of Mississauga

measure health and quality of life improvements over time and act as a model for success. For further information, visit

www.mississauga.ca/stewardshipcentre

Discover Mississauga

· Diversity and innate beauty make Mississauga a preferred destination. Take in a round of golf, or relax with a treatment at one of

its many spas.

· Come to Mississauga as a couple, for a business meeting, or with your family and friends. Mississauga has superb accommodation

options for every taste and budget.

· Explore its quaint historic villages, visit the bustling waterfront, or inspire yourself with Mississauga's world-class art and theatre at

the Living Arts Centre. Visit the Rhododendron Gardens, watch the salmon migration, or shop at Square One - Ontario's largest retail

shopping centre. Whether you choose an activity-packed weekend or a relaxing getaway, your stay will be memorable here.

· From stunning architecture and museums to lakefront parks and vibrant ethnic neighbourhoods, Mississauga offers a range of

experiences that keeps visitors coming back again and again.

· For Mississauga tourism information, visit: www.mississauga.ca/tourism

Published April-07

Page 2 of 4

Downtown Mississauga

· Mississauga's City Centre is located in the heart of Canada's sixth largest city, which has a mix of commercial and high density

residential uses. More than 6,000 building permits have been issued for residential high-rise condominium and/or retirement units

since 2000.

· The area includes attractive Class A office buildings that accommodate close to 450 corporate businesses, among them include

major employers such as Baxter Corporation, Deloitte & Touche, E D S Canada, Edulinx Canada Corp., Pepsi QTG Canada, Personal

Insurance Co. of Canada, Praxair Canada, Quantum Managements Services, Reynolds and Reynolds (Canada) and Symcor Inc..

· City Centre amenities include the Living Arts Centre, an art gallery, a central library, the YMCA, Mississauga's transit terminal and

Square One shopping centre.

· Mississauga's City Centre has over 3.7 million square feet of office space and prime real estate opportunities.

Education

· Educational opportunities and the quality of education are high priorities in Mississauga.

· There are 10 universities and 11 technical colleges within commuting distance of Mississauga.

· Mississauga is served by two school boards - the Peel Board of Education and the Dufferin-Peel Catholic District School Board

responsible for elementary and secondary schools within the Region.

Peel Board of Education

· The Peel Board of Education, one of Canada's largest school boards serves over 225 schools with 140,000 full time elementary and

secondary students. The Board offers full time French Immersion, English As a Second Language, Technical Education Programs,

Co-operative Education, Enhanced Learning and Special Needs programs to mention a few. In addition, they run an extensive

Adult and Continuing Education Program.

· For more information, visit www.peel.edu.on.ca

Dufferin-Peel Catholic District School Board

· The Dufferin-Peel District School Board is one of the largest and most diverse school districts in Ontario which operates 141

catholic schools with a student enrolment of close to 90,000 full time students at the elementary and secondary levels. In addition

to the religion and family life education, as well as other programs specified by the Ministry of Education, the board offers an Adult

and Continuing Education Program.

· For more information, visit www.dpcdsb.org

Centre for Education & Training

· In support of the Peel Board the centre offers customized education, career planning, skills upgrading, training and language

services, computer training, career & employment assistance, and international programs. It is the largest on-site trainer in

Ontario serving Greater Toronto, Canada and worldwide.

· For more information, visit www.tcet.com

Published April-07

Page 3 of 4

Private Schools & Alternative Education

· Mississauga offers more than 30 private schools ranging from pre-school to Grade 12 and offering programs such as Advanced

Learning, English as a Second Language (ESL), Montessori, technical and vocational skills, and religion.

· For a list of these private schools, call the City of Mississauga, Economic Development Office at 905-896-5016.

University of Toronto Mississauga (UTM)

· UTM is part of Canada's largest university, the University of Toronto, which is also one of the most highly respected research

institutions in North America. The university offers one of the few Masters of Biotechnology in Canada and the new Masters of

Management of Innovation this year. It will soon become home of the new Academy of Medicine which is being developed in

partnership with our hospitals.

· For more information, visit: www.utm.utoronto.ca

Health Care

· Canada's Health Care System

Canada has a predominantly publicly financed health care system. The national health insurance program is achieved through

health insurance plans administered by the Province of Ontario and linked through adherence to national principles set at the

federal level.

· For more information, visit:

www.hc-sc.gc.ca/english

· As part of the Greater Toronto Area, Mississauga residents have quick access to hospitals and health care facilities providing a

broad range of health services. Within the Mississauga community alone, there are two well-renowned hospitals both offering

comprehensive primary services to residents and regional health programs to its residents.

· Credit Valley Hospital

The hospital, a regional centre for cancer treatment, provides a broad spectrum of clinical services involving ten programs: general

medicine, surgery, renal, oncology, emergency, mental health, continuing care/rehabilitation, obstetrics and gynaecology,

paediatrics and cardiac services and a network of support departments. The hospital has recently opened the Carlo Fidani Peel

Regional Cancer Centre.

· For more information, visit: www.cvh.on.ca

· Trillium Health Centre

Trillium Health Centre provides primary, secondary and tertiary services to a community of approximately one million residents.

Operating across two sites - the Mississauga Site and the Queensway Site – Trillium, is a regional centre for Stroke, Neurosurgery

and Sexual Assault, Domestic Violence, and a provincial centre for Cardiac Services. The hospital is home to the busiest Emergency

department in Canada and the largest free-standing day surgery facility in North America.

· For more information, visit: www.trilliumhealthcentre.org

Housing

· Mississauga has an excellent selection of quality housing including townhouses, high-rise condominiums, semi-detached, detached

and executive homes to satisfy every income level. Mississauga's residential communities are set in a variety of environments from

urban to waterfront to greenbelts.

· For more information, refer to the Population & Demographics Profile available online at www.mississauga.ca > Business > Profiles,

Facts & Maps or, refer to the Housing Matters document available online at www.mississauga.ca > Residents > Planning & Building >

Publications > Brochures & Newsletters.

Published April-07

Page 4 of 4

Public Safety

· City of Mississauga is recognized as the safest city in Canada for the seventh year in a row as documented in a national study based

on crime statistics from major cities across the country.

Police Protection

· Mississauga is protected by the Peel Regional Police. It is the 2nd largest municipal police service in Ontario and the 3rd largest in

Canada. Peel Regional Police, which provides one police officer per 669 residents, is acknowledged as one of Canada's most

progressive police services.

· For more information, visit: www.peelpolice.on.ca

The Mississauga Crime Prevention Association (MCPA)

· The MCPA is a community driven not-for-profit charitable association that works with residents, businesses, schools and the Peel

Regional Police to deliver pro-active crime prevention programs aimed at making Mississauga a crime free city.

· For more information, visit: www.mcpa.on.ca

Fire Protection

· The City of Mississauga has a professional Fire Service with one firefighter per 1,100 residents, staffing 20 fire halls across the city.

· Emergencies are handled through the department's communication centre by dialing the emergency number 911.

· For more information, visit: www.mississauga.ca/fire


Toronto Real Estate Board (TREB) Average Prices and Graph Read more about our Toronto and GTA Real Estate Marketplace and Average Price Trends

For more information please contact me.

Thank you,
Mark

A. Mark Argentino
P. Eng. Associate 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 : mark@mississauga4sale.com
Website : Mississauga4Sale.com

Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?

P. S. 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

Wednesday, April 14, 2010

Should I buy an extended warranty or service warranty for items in my investment property?

Should you purchase an extended warranty on appliances or items that are
located in your investment property. This is a question I receive from
people who have investment properties.

You may feel more conformable with warranties in place, especially when it's
a tenant using the items and not you. Tenants tend to be harder on
appliances and tend to not maintain systems the way you the owner would, and
appliances may break down more often or quicker than they normally would.
Thus extended warranties may pay off in the long run.

Many of my clients with rental properties purchase extended warranties on
their appliances and get furnace and air conditioner regular maintenance
packages to keep them in good running order.

For my personal items that I use and enjoy, our appliances, furnace and air
conditioners, computers, electronics and my vehicles, I never purchase an
extended warranty. My opinion is to never purchase an extended warranty on
anything, anytime ever. It's really up to you and your comfort level.

A friend of mine told me back in the early 80's that the amount of "money
that you save" by not spending any money on extended warranties over a 10,
20 or 30 year period is far greater than the amount you may end up spending
on the occasional repair of an item once it's past it's warranty period. If
an item does not break during it's warranty period then it's more likely
'not to break' once it's past the period. If it does break or fail after
the warranty has expired the cost of repair is usually far less than you
would have paid for the extended warranty, OR you will replace the item with
a new one since the cost has come down so much OR that it may be time to
purchase a new one and upgrade or update to current technology. This is
especially true with electronics. Of course, this is only my personal
opinion, but many will argue the other way.

We also believe that it's those little costs throughout the week and the
month that add up to huge savings every year for us.

I wish you all the best!
Mark