TREB Average and median single family residential prices from 2000 to 2010, showing a regular increase for each year

Average and median single family residential prices from 2000 to 2010, showing a regular increase for each year

For 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

West zones real estate marketplace sales to active listings ratio, showing that the ratio is falling

West zones sales to active listings ratio, showing that the ratio is falling, meaning that the market is tightening and there are less listings compared to sales

For 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

Number of days on the market is low for the past 3 months compared to previous 9 months for the west zones in the GTA real estate marketplace

Graph showing the number of days on the market is low for the past 3 months compared to previous 9 months for the west zones in the GTA real estate marketplace

For 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

GTA residential real estate breakdown of detached, semi detached, townhomes, condos etc and their percentage of the market sales

Pie chart showing the breakdown of detached, semi detached, townhomes, condos etc and their percentage of the market sales




For 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

GTA average number of single family residential real estate sales is stabilizing

This graph shows that the number of sales over the past year is leveling out.

For 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

Residential real estate market in GTA shows volume of sales is up, new listings are up more, so the market is softening

Chart below shows current housing market indicators, showing that the number of sales is up 35% in April 2010 compared to April of 2009, New listgs are also up 58% and Active listings down 2% for the same periods. This indicates that although the market volume of sales is up, new listings are up more, so the market is softening.

For 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

GTA real estate marketplace number of active listings on the market

This graph shows the number of active listings on the market and indicates that there are significantly more listings on the market now compared to Decmeber and January, more choice for buyers


For 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

mortgage rate advice

Harry has written me a few times about how happy he is since he followed my advice about taking the variable rate mortgage, he's saved plenty of money.

Mark,

I keep referring to this letter from time to time and when I discuss mortgages with friends. I have never ever gotten a more elegant, lucid, well-informed explanation and advice on mortgages since nobody has ever indicated how much I stand to gain if I stay on a floating rate as opposed to keeping it locked. It is a complicated matter which most real estate/mortgage agents are not competent or knowledgeable enough to answer.
I am glad I asked you!!!

Thanks again. Have a wonderful day!
--
Harry, Calgary, Alberta, Canada



Hi Harry,

Thanks again for your kind words. Just yesterday, I had another discussion with a colleague of mine who has his MBA and he too agrees completely with my logic. After crunching through the numbers based upon current 5 year variable rate mortgages that are about prime minus .5% and this is still far superior compared to locking in at 4.5 or 5% or even higher.

The prime rate would have to reach about 7 or 8% before one would break even, not something
that seems likely to happen for many years to come, maybe not for at least 5 to 10 years. Variable is the way to go, for now.

The banks may eventually 'flip' on the current philosophy. Meaning that once prime gets to 4 or 5% they may change their short term rates to prime plus .5% or 1% but you will still be far ahead of the game by that point.

If this happens, maybe then you would consider locking in. Again, that's many years down the road based upon the economic forecasts over the next few years.

All the best!
Mark

Opportunity abounds - long term versus short term mortgage interest rates

See the graph above shows you that the gap between long and short term rates is widening. This means that there is much more opportunity for saving money when you go variable rate on your mortgage. Of course there is always the risk that short term rates will rise, but they would have to rise considerably higher than they are today for this to have an effect.

I'm not telling you what to do with your mortgage, just that there is opportunity for those that like to play the mortgage game and put tens of thousands in their pockets versus their lender over the term of the mortgage. :-))

For 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

Average single family residential price changes from January 2009 to April 2010

This chart shows the average single family residential price changes from January 2009 to April 2010

For 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