Highlights Latest Report from TREB Market Watch for the Residential Real Estate Market in the GTA March 2016

Highlights of the latest report from TREB for the Residential Real Estate Market in the GTA

• The Average price for last month was $685,278 (it was $631,092 the previous month) and this represents aver a 11.1% increase compared to the same month last year
  
  - see graph of prices here
  
• Sales volumes were 7,621 (it was 4,672 last month) and this an 21.1% increase from the same month last year  
• The Bank of Canada Prime Lending Rate now stands at 0.50% since July 2015 read more
  
  read more
  
• See more at this page about average prices and read the TREB full price and data report below.

This is the full price and data report from TREB for last month

Record February Sales

TORONTO, March 3, 2016 – Toronto Real Estate Board President Mark McLean announced Greater Toronto Area REALTORS® reported a record number of home sales through TREB’s MLS® System in February 2016. There were 7,621 transactions reported this past February – up 21.1 per cent compared to February 2015.

The number of new listings entered into TREB’s MLS® System was also up on a year-over-year basis, but by a lesser 8.2 per cent. The fact that the annual rate of sales growth outstripped the annual rate of price growth shows a tightening of market conditions compared to last year.

“Even after accounting for the leap year day, sales were above the previous record for February set back in 2010. Sales were up strongly from the 15th day of the month onward as well, despite the new federal mortgage lending guidelines coming into effect that require at least a 10 per cent down payment on the portion of purchase prices between $500,000 and $1,000,000,” said Mr. McLean.

Seller’s market conditions continued throughout the GTA in February. Strong competition between buyers resulted in a healthy growth in selling prices. The MLS® Home Price Index (HPI) Composite Benchmark was up by 11.3 per cent year-over year.

The average selling price was up by 14.9 per cent annually to $685,278.

“Recent polling conducted for TREB by Ipsos suggested that GTA households will remain upbeat about purchasing a home in 2016. Early sales results for January and February certainly support this view. 

With strong sales up against a constrained supply of listings, home prices continued to trend strongly upward,” said Jason Mercer, TREB’s Director of Market Analysis.

All the Best!

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
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 ?
  http://www.mississauga4sale.com/internet-evaluation.htm
• Power of Sales and Foreclosureshttp://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
  http://www.mississauga4sale.com/popupquestion.htm
• See seasonal housing patternshttp://www.mississauga4sale.com/TREBprice.htm

Bank of Canada leaves key interest rate unchanged at 1/2%

Greetings from Fabulous Mississauga!

The Bank of Canada leaves key interest rate unchanged at 1/2% most anticipated interest rate announcement was on January 20, 2016 and the decision was that the Bank of Canada will be maintaining its overnight rate at 0.5%.  This means there will be no changes to prime rate. 

What does this mean to you, the consumer?  It's likely the major banks in Canada will leave their prime rates that they charge you at 2.70%

The last increase of the prime rate was September 2010 and this the longest stretch of no increase in history. 

Economists have been predicting that the prime rate will remain unchanged until sometime in 2016 and some even longer than that.  There are others who are predicting no change for 5 years or longer.

Many have been predicting the prime rate will increase 'next year' every year for the past 5 years now.

Personally, I believe that the low interest rates that we are currently experiencing are generational.  What I mean is that I predict we will see rates at or near their current levels up to about 5% for the next 15 years.  It's already been 5 years of low interest rates and it will likely remain this way for the next 15, a total of 20 years, a full generation!  That's my prediction.

You can still find discounts on variable rate mortgages as low as prime -0.5% with most banks offering about prime -0.10%. 

You can find 5 year fixed mortgages as low as 2.6% and even slightly lower sometimes.

Read the entire release from the Bank of Canada Here 

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 ?
  http://www.mississauga4sale.com/internet-evaluation.htm
• Power of Sales and Foreclosureshttp://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
  http://www.mississauga4sale.com/popupquestion.htm
• See seasonal housing patternshttp://www.mississauga4sale.com/TREBprice.htm

Government of Canada Announcement changes to downpayment rules effective February 15, 2016

Greetings from Fabulous Mississauga!

The Government of Canada Announced a change to the downpayment rules effective February 15, 2016

The minimum down payment will remain 5% for any real estate purchase up to $500,000.  Once you are over $500,000, the downpayment must be 10%, but only on the amount exceeding $500,000. 

For example:  If you are purchasing a home for $800,000, you'll need 5% for the first $500,000 and 10% on the remaining $300,000 making the minimum down payment on this purchase $55,000. 

You will still be able to purchase a home up to $1,000,000 with 5% down until February 15th.  Purchases over $1,000,000 still require 20% down.

Read more about Interest Rates

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 ?
  http://www.mississauga4sale.com/internet-evaluation.htm
• Power of Sales and Foreclosureshttp://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
  http://www.mississauga4sale.com/popupquestion.htm
• See seasonal housing patternshttp://www.mississauga4sale.com/TREBprice.htm

Ontario Property Taxes - Estimations - Real Estate Humour

Everyone talks about Location, Location, Location when it comes to Real Estate

There is no doubt that the location of your house will determine it's market value for TAX ESTIMATION, the only EXCEPTION is that it also depends upon who is looking at the value of your home!


Your House As Seen By:

Yourself...



and this is how your house looks from the perspective of



Your Buyer...

and this is how your house looks from the perspective of

Your Lender...

and this is how your house looks from the perspective of

Your Appraiser...

and this is how your house looks from the perspective of

Your Ontario Tax Assessor...



Read more about:

• Interest Rates


• Power of Sale Properties


• Price Trends


• or Search the MLS and more at my website

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.com8 Website : Mississauga4Sale.com

• Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?


• On-Line Real Estate Newsletter sign up


• See seasonal housing patterns

Women as explained by Engineers

WOMEN AS EXPLAINED BY ENGINEERS

Part I




























Part II


Part III

Part IV

---

Part V

---

Read more about:

• Interest Rates








• Power of Sale Properties








• Price Trends








• or Search the MLS and more at my website

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.com8 Website : Mississauga4Sale.com

• Thinking of selling in the next 3 to 6 months? Would you like a Complimentary & Quick Over-The-Net Home Evaluation ?








• On-Line Real Estate Newsletter sign up








• See seasonal housing patterns

Skinniest house sells in NYC

This house sale caught my eye, if the square footage calculations are correct, the value for this slice of New York is $2753 per square foot.  

Average price for a 3 bedroom 1900 sqft home in Mississauga is about $400,000 or about $210 per square foot.  

Wow, that means it's 10 times more expensive to live in New York!

This is the full article:

The sale of 75 1/2 Bedford Street, NYC's skinniest house, has made it to public record.
The nine-and-half-foot-wide house of indeterminate mid-1800s construction date was asking $2.75 million when it hit the market   at the end of August, and it saw one chop to $2.499 million   before it found a buyer.
That buyer's identifying information is sadly obscured behind a corporation (with, clue, a P.O. Box in South Florida), but we do at least now know the 999-square-foot property's final sales price  : $2.175 million.
A profit for seller Stephen Balsamo, who paid $1.6 million for the house -- after a bidding war -- back in 2000. And a bit of a deal for the buyer, who got a roughly 13 percent discount off the most recent asking price. (More of a deal considering an early '08 estimate that pegged the value of the house at $2.5 million.)... read more...
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 | NewsletterRE/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.comWebsite : 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?

Spectacular Australian Natural Phenomenon

This power point presentation below is so incredibly beautiful and amazing
to view and read about. Nature is amazing!

Someone sent me this presentation as a large file, but it's easier to click
the link below to view it on your computer. When you click the link, choose
open, unless you want to save it.

The presentation is here for you to download:

http://www.pipistrel.si/file/download/232_aeb8eb940c98/gloriamatutina.pps

The file is 1,5 M large, but worthy of downloading because the photos are truly stunningly beautiful!

Enjoy
Mark

The "Tech Support" Scammers Called HTG (So We Had Fun with Them)

hi!

This may be old news, but read this if you want to see how intricate the scammers are, no wonder they
are successful

http://www.howtogeek.com/180514/the-%e2%80%9ctech-support%e2%80%9d-scammers-called-htg-so-we-had-fun-with-them/

Mark

Bank of Canada leaves prime rate at 0.5% on October 21 2015

Hello from fabulous Mississauga!

How about those Jays and their win today? It was so exciting to see them win the 5th game today against the Royals, let's hope they can continue!

Other positive today for the Toronto and Canadian people who have debt is that the Bank of Canada left the prime rate at 0.5%  

This means that the Bank Prime Rate stays at .75% and the borrowing rate that you and most Canadians receive stays the same before the announcement at 2.70%

If you want to read the entire press release from the Bank, please use the link below:

http://www.bankofcanada.ca/2015/10/fad-press-release-2015-10-21

Have a Great Day and GO JAYS GO

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 ?
  http://www.mississauga4sale.com/internet-evaluation.htm
• Power of Sales and Foreclosureshttp://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
  http://www.mississauga4sale.com/popupquestion.htm
• See seasonal housing patternshttp://www.mississauga4sale.com/TREBprice.htm

Record Setting Month in GTA for Average Prices and Sales of Single Family Residential Sales

Once again, last month was another very strong month for sales and prices in the GTA.

The Average price for last month was $602,607 (it was $609,236 the previous month) and this represents aver a 10.3% increase compared to the same month last year- see graph of prices here

Sales volumes were 7,568 (it was 9,880 last month) and this is UP 5.7% from the same month last year

The Bank of Canada Prime Lending Rate now stands at 2.70% steady (since July 2015) read more

Read more about what happened last month at see last month results and prices here





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