Canada's economy being much more stable than US

Hello,

I thought I would share this excellent article with you below about Canada's economy being much more stable than US

It must have been written by a Canadian or at least a Canadian sympathizer!

Here is a Great quote from the article...

" "Look what's not happening in Canada. There is no real estate crisis. There is no banking crisis. There is no unemployment crisis. There is no sovereign debt crisis. Recent reports suggest that consumers are loading up too much debt, but Canada shares that problem with nearly every other country in the industrialized world."

"

and so true, there is no real estate crisis in Canada. And if there is or was a recession in the GTA over the past couple of years, it sure didn't affect real estate prices.

Have a great day,
Mark

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 Market results for January 2011

This is the latest report from the Toronto Real Estate Board on prices for January 2011

GTA REALTORS® Report Monthly Resale Housing Market Figures TORONTO, February 4, 2011

Greater Toronto REALTORS® reported 4,337 transactions through the TorontoMLS® system in January 2011.

This result was 13 per cent lower than the record result reported in January 2010.

“While off the record pace experienced a year ago, the GTA resale market has started the year on a solid footing. Home buyers in Toronto and surrounding areas continue to benefit from a diversity of housing types for sale at many different price points,” said TREB President Bill Johnston.

The average selling price for January 2011 sales was $427,037, representing an increase of over four per cent compared to the average of $409,058 reported in January 2010.

“The average selling price is expected to grow at a moderate pace in 2011. Growth rates in the three to five per cent range will be sustainable from an affordability perspective,” said Jason Mercer, TREB’s Senior Manager of Market Analysis

I hope this finds you happy and healthy!
Mark


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

TD Canada Trust Economic News - February 1

Good morning,

This is the latest news from TD Canada trust. They think there will be some
cooling in the real estate market and expect real estate growth to be
moderate, at best!

Enjoy the snow today!
Mark

TD Economics

Data Release: Canadian Real GDP surprises on the upside in November
* Canadian real GDP rose 0.4% in November, almost double the pace markets were expecting, and the strongest growth rate in almost nine months. The headline number likely masked underlying trends, as plant reopening in the mining and oil and gas (+1.3%) industry bolstered real GDP growth, while restructuring in the auto industry (-15.6%) weighed heavily on growth in the month. Looking beyond temporary factors, on a year-over-year basis, real GDP growth cooled to 3.0%, from 3.4% in the prior month, continuing a 9-month moderating trend.

* Outside of temporary factors, signs of strength emanated from the service sector (+0.5%), with strong gains in retail trade (+1.4%), and finance insurance, and real estate (0.6%). Both have come roaring back, following a 9-month breather following the robust strength seen in late 2009, and early 2010. The gains in finance, insurance and real estate can likely be linked to the renewed strength in the existing home market experienced in late 2010. Gains in other services were much more muted in the month.

* Excluding the temporary drop in motor vehicle production, the goods producing sector weighed heavily on growth in the month. Construction (-0.4%) fell for a second consecutive month, driven by weakness in new home building. Manufacturing excluding auto production (-0.2%) was lackluster in the month. Manufacturing output has fallen in four of the last five months, as this sector struggles to pull its way out of the rubble caused by the 2008/2009 recession.

Key Implications

* November's gain puts real GDP growth on track for 2.3% in the fourth quarter of 2010, in line with our and the Bank of Canada's expectations. This underscores our view that the drop in real GDP growth to 1.0% was temporary, and the Canadian economy should continue at a slightly faster, but still gradual pace over the next year.

* We anticipate that the strength in the service sector may be short-lived. The service sectors continued to benefit from strong domestic demand, and extremely low interest rates, led by the Canadian existing housing market. Since, we have seen signs of cooling on that front, and going forward we expect housing activity to be moderate at best. In addition, the most recent changes to mortgage insurance rules should work to dampen demand in the existing home market. A cooling housing market, coupled with high household debt levels is likely to slow growth in the service sector and construction output through 2011.

* Meanwhile, the goods sector should continue to benefit from strong global demand for Canadian resources, such oil and gas. But excluding the resource sector, manufacturing will continue to face significant challenges, particularly in the wake of a strong Canadian dollar, and increased competition from low-cost global players.

I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
BUS 905-828-3434
FAX 905-828-2829 CELL 416-520-1577
mark@mississauga4sale.com
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 ?
www.mississauga4sale.com/internet-evaluation.htm

* Power of Sales and Foreclosures
www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm

* 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
www.mississauga4sale.com/popupquestion.htm

* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm

* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

Canadian Real Estate Predictions for 2011

Below are the real estate predictions from Canada Realty News for 2011 in Canada. They are quite optimistic, probably the reason I like their predictions. They are predicting that prices will hold steady in light of a 7% decline in home sales. The complete release is below.

I believe that for the GTA real estate marketplace we will see a 4 to 6% increase in prices. Sales will be down because people just don't seem to be moving as frequently as there were a few years ago.

I wish you all the best!
Mark



2011 Canadian Real Estate Market Forecast and Prediction

According to many real estate experts, the Canadian housing market is expected to stabilize in 2011 returning to more normal long-term growth patterns after a decade-long bull run.

The housing sector has avoided two extreme bubble-and-crash scenarios over the past three years when resale prices dropped sharply in 2008, then quickly rebounded as low mortgage rates and lower prices supported the turnaround.

Record low interest rates fuelled a home buying spree in 2009 that helped pull the Canadian economy out of recession and pushed home sales back to record levels. The market cooled rapidly over the summer of 2010 as the Bank of Canada began hiking interest rates, though recent data have indicated the market may be stabilizing.

In 2011, interest rates are expected to hike further as the economy improves. While still at historical lows, any hike in interest rates have big effects on mortgage rates. If interest rates are raised too quickly, this will further dampen real estate prices. On the other hand, if the
government decides to lower the rates once again, as unlikely as this may seem, then home sales might surge slightly.

Government and institutional lending policies will also affect real estate prices. As banks and governmental policies become increasingly strict, more people will be turned down for mortgages. At the very least these potential home buyers will need to choose from more modest homes if their mortgage is declined.

In 2011, Canada will experience an overall decline of 0.9% in home prices.

Not all provinces will feel the effects of fluctuating real estate prices equally. Some provinces will have a more profound move in housing prices than others.

While real estate prices might remain fairly stable, buying activity is expected to slow down significantly. The Canadian Real Estate Association expects a 7.3% decline in home sales. This means that homeowners in a panic to sell may have to drop their prices substantially in order to liquidate.

Others may need to wait longer than in previous years to sell.

The drop-off in home sales comes from an anticipated slowing of economic growth along with a reduction in consumer spending. Less free floating capital means fewer large purchases. Ample inventory levels, steady demand, and moderate growth, both in terms of sales and prices, will characterize the market in 2011.

Is it a Good Time to Buy a Home in Canada?

Timing the market perfectly is a difficult task. Often it is easier to look at one's income and decide if the stability of personal finances are adequate to acquire a house for the long term. If not, there is no shame in renting or leasing until circumstances permit such a purchase. But trying to perfectly time a house purchase with the market is like trying to buy a stock at its lowest point before a rebound - very difficult indeed.


Copyright (c) 2010 Canada Realty News(tm). All Rights Reserved.
The material in this publication is provided for your informational purpose only and is not intended to substitute professional advice. If your property is currently listed with a Real Estate Broker, this publication is not intended as a solicitation

I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
BUS 905-828-3434
FAX 905-828-2829 CELL 416-520-1577
mark@mississauga4sale.com
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 ?
www.mississauga4sale.com/internet-evaluation.htm

* Power of Sales and Foreclosures
www.mississauga4sale.com/Power-Sales-Bank-Sales-Alert-Request.htm

* 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
www.mississauga4sale.com/popupquestion.htm

* See seasonal housing patterns
www.mississauga4sale.com/TREBprice.htm

* Would you like me to send you a desk or wall Calendar?
www.mississauga4sale.com/Calendar-Order-Form.htm

Condominium Insurance Policy on Your Real Estate Investment Properties - Do you need it?

Hello,

Do you have your own insurance policy on your investment property that is a condominium townhouse or condominium high-rise? If not, you better think about adding your own policy.

I am not able to give legal advice or any expert advice on issues that don't relate to real estate, but please consider what I am saying below and consult with your own insurance company and condominium corporation. This advice below could prove to be very important or costly to you in the event of a problem in the future.

My thinking in the past was that since a condominium corporation has building insurance and since a tenant has contents insurance, then I don't need to buy insurance on my investment properties.

This is incorrect!

I just put insurance on all our investment properties There are many reasons for me to have an insurance policy on these rental investment properties.

Some reasons for me having insurance on our investment properties are as follows.

• I am now covered if the condominium insurance does not cover water damage or roof damage or any other damage such as water, ice, snow or sleet damage on the interior or exterior of the unit
• If the condominium insurance company attempts to claim money from me for damage caused by our tenant then I am covered.
• If the condominium insurance does not cover the entire loss and comes after me to pay for part or all of their loss then I am covered
• If a tenant causes a problem, such as plugging a drain line, that causes damage outside of the unit and the condominium corporation comes after the tenant or me to pay for those repairs, I am now covered.
• If the tenants insurance does not cover damage that the tenant causes inside the unit, my insurance may now cover that damage.
• If the tenant lets their insurance policy lapse, then at least I am covered in the event of a loss caused by the tenant.
• In the event that the tenant has to leave the unit for some reason and I'm losing rent, such as repairs after a major fire or flood inside the unit, then I am now covered for up to 1 year rental loss while the unit is being repaired.
• There are other endorsements in the insurance policy that I now have that cover us for many other situations, but these items above seem to be the major potential problem issues.

The annual cost to me is about $100 per property.

These are some of the major reasons for me to have insurance on all our investment properties and I would recommend that you look into obtaining insurance on all of your investment properties too.

I wish you all the best!
Mark

2011 Summary of December 2010 sales and average prices

The chart below shows the 2011 Summary of December 2010 sales and average prices


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

Humour about Why teachers drink

Our administrator sent me this email below, it's very funny.

These are answers to questions that people have given when they are stumped or don't know the real answer, some are exceptionally witty, enjoy!

Mark

Don't give up on this one it is so funny.................

Some of it is anyways!

2011 TREB Affordability Indicator Share of Average Household Income Used for Mortgage Principal and Interest, Property Taxes and Utilities

2011 TREB Affordability Indicator Share of Average Household Income Used for Mortgage Principal and Interest, Property Taxes and Utilities


Explanation: This chart plots the share of average household income that goes toward mortgage principal and interest, property taxes and utilities for the average priced home in the GTA subject to the following assumptions:
1.Average annual or year-to-date home price as reported by TREB
2.20 per cent down payment
3.Average 5-year fixed mortgage rate (Statistics Canada); 25-year amortization
4.Average property tax rate reported by/estimated from the Statistics Canada Survey of Household Spending
5.Average utilities cost reported by/estimated from the Statistics Canada Survey of Household Spending and components of the Consumer Price Index
6.Average household income reported by the Census of Canada. Years in between Censuses estimated using interpolation (years upto2005) or annual growth in average weekly earnings reported by Statistics Canada in the LabourForce Survey (2006 onward).

Source: Toronto Real Estate Board Data and Calculation; Statistics Canada
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

TREB Real Estate West Zones Sales to active listings ratio over time

TREB Real Estate West Zones Sales to active listings ratio over time


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

TREB Real Estate West Zones days on the market over time

TREB Real Estate West Zones days on the market over time


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