The difference between mortgage term, mortgage amortization and your interest rate

Hello, I've written quite a bit about mortgage rates and believing that most people should choose short term variable on their mortage and the reasons why. I've just created another page outlining the differences between your mortgage term, mortgage amortization and how this results in your interest rate. Read more about mortgage term, mortgage amortization and your interest rate. I wish you all the best! Mark 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

HST and how it applies in the Resale housing market in Toronto and the GTA

This is another video from TREB (Toronto Real Estate Board) and it talks about HST and how it applies to the real estate transaction in the GTA and Toronto areas, enjoy! 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

Mortgages difference between the term, amortization and the rate of a mortgage

People sometimes are confused between the term, amortization and the rate of a mortgage. I was asked the following question: Are the rates on your website based on a 5 yr/25 yr amortization?

Thank you

M.

My answer was

Hi M ., Thank you for your real estate inquiry.

Rates vary depending upon whether they are open, variable or 1 to 5 year rates - and this is what affects the actual rate that you will receive .

The amortization, whether it's 25 year or 20 or 30 will determine the payment based upon the rate you have with your mortgage.

Read more about mortgages at this page of my site:

http://www.mississauga4sale.com/Mortgage-Payment-Options.htm

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

GTA Toronto real estate market forcast for 2011 and 2012

This is the latest video from TREB that talks about the real estate market forcast for 2011 and 2012 in the GTA, Toronto and area, enjoy! 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

TREB MLS® Average Price Monthly Time Series with Trend Line Actual March 2011

Explanation: This chart plots monthly MLS® average price since January 1995. The blue line shows the actual average price. The brown line is the trend computed using a 12-month moving average, which exhibits no seasonal variations or other irregular fluctuations. A substantial change in actual average price must occur to change the direction of the trend.


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

Can you solve this mystery about which sign is correct?

How cool is this, a friend of mine sent me the image below
The caption read:
"This was taken in Calgary."

check it out, look where he says it's from, it's exactly the same sign as
the one below and the one below states that it's from
"On the Yellowhead Highway #16 in northern British Columbia"

...with all the exact wording below the gasoline prices

So someone in the one of the images has done a cut and paste job!

I'll believe the one from Esso in Canada before I believe the image from
Exxon form the US

I could be wrong, but it would be just like an American to take a Canadian
sign, cut and paste it onto an American Icon (EXXON) and take the credit....
the internet and people are amazing in how they manipulate things

Does anyone know for sure which one is the correct sign?

The other Joke here is that we in Toronto and most of Canada are paying just over $1.20 per litre of gasoline, whereas most of the USA is paying about $3.50 per USGallon, when you do the conversion we are paying about $4.54 per USGallon or converting the other way Americans are paying about 92.6 Cents/Litre - we are getting overcharged for gasoline in Canada!

If the price in the USA were $4.54 per gallon, US citizens would revolt!

The other point that I am trying to make is that we can't forget that what
we are viewing and reading could be dis-information or even worse, complete
fraud!

Be careful out there

All the best
Mark

March 2011 TREB Affordability Indicator Share of Average Household Income Used for Mortgage Principal Interest, Property Taxes, Utilities on the Avg

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.



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

March 2011 TREB MLS® Sales-to-New Listings Ratio Compared to Average Annual Per Cent Change in Home Price Sales

Explanation: This chart plots the monthly sales-to-new listings ratio (blue line) with year-over-year average annual per cent price change (brown line). When the sales-to-new listings ratio moves higher, average annual per cent change in home prices generally trends higher. When the sales-to-new listings ratio moves lower, average annual per cent change in home prices generally trends lower.


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 Home Sales Mid month report from the Toronto Real Estate Board

This is the mid-month report from the Toronto Real Estate Board for home sales in the GTA

Compared to first two weeks of March 2010 sales and new listings are down, but average prices are up by nearly 5%



GTA REALTORS(r) Report Monthly Resale Housing Market Figures

TORONTO, March 16, 2011 -- Greater Toronto REALTORS(r) reported 4,138 sales during the first two weeks of March 2011 - a five per cent decrease compared to the first two weeks of March 2010. The number of new listings also dipped - down by 15 per cent compared to the same period last year.

"A positive economic outlook for the Greater Toronto Area, including steady growth in jobs and incomes, has kept households confident in their ability to purchase and pay for a home over the long term," said Toronto Real Estate Board (TREB) President Bill Johnston.

The average price for transactions during the first 14 days of March was $460,196, representing a 4.6 per cent increase compared to the first two weeks of March 2010.

"Market conditions are tighter compared to this time last year, resulting in more competition between buyers and sustained upward pressure on the average selling price. The annual rate of price growth is expected to range between three and five per cent in 2011," said Jason Mercer, TREB's Senior Manager of Market Analysis.

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

TREB MLS® New Listings Monthly Time Series with Trend Line Actual March 2011

Explanation: This chart plots monthly MLS® new listings since January 1995. The blue line shows actual new listings. The brown line is the trend computed using a 12-month moving average, which exhibits no seasonal variations or other irregular fluctuations. A substantial change in actual new listings must occur to change the direction of the trend.


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 MLS® Sales Monthly Time Series with Trend Line Actual

Explanation: This chart plots monthly MLS® sales since January 1995. The blue line shows actual sales. The brown line is the trend computed using a 12-month moving average, which exhibits no seasonal variations or other irregular fluctuations. A substantial change in actual sales must occur to change the direction of the trend.


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 MLS® Average Resale Home Price Monthly with Three Previous Years for Comparison

Explanation: This chart plots the monthly MLS® average home price for the current year and the previous three years. The recurring seasonal trend can be examined along with comparisons to previous years for each month.


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 MLS® Sales-to-New Listings Ratio Compared to Average Annual Per Cent Change in Home Price Sales

TREB MLS® Sales-to-New Listings Ratio Monthly with Three Previous Years for Comparison

Explanation: This chart plots the monthly MLS® sales-to-new listings ratio (SNLR) for the current year and the previous three years. The recurring seasonal trend can be examined along with comparisons to previous years for each month. When the SNLR moves higher, annual average price growth generally increases –often at a rate well above inflation. When the SNLR moves lower, annual average price growth generally declines and can become negative.


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 MLS® New Listings Monthly with Three Previous Years for Comparison

TREB MLS® New Listings Monthly with Three Previous Years for Comparison


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 Affordability Indicator Share of Average Household Income Used for Mortgage Principal and Interest, Property Taxes and Utilities on the Avg

TREB MLS® Sales Monthly with Three Previous Years for Comparison


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

Do prices increase the same percentage in all price ranges?

I had another question from a client that I thought I would share with you
along with my answer

The question was:

Hi Mark,

Thanks for the great web site - I am trying to determine the price appreciation of a particular home that was sold in 2004

Your graphs at http://www.mississauga4sale.com/TREBprice.htm#graph suggest a 25-35% increase from 2004 levels for average home prices $300k -$400k range.

I was wondering if you thought the relationship would hold for houses higher than the average i.e. can the 25%-35% be applied to the higher price ranges??

Or is there data that indicates that more expensive homes appreciated at slower rate?

Thanks for you help

F.

This is my answer:

Hi F .,

Thank you for your real estate inquiry and kind comments.

The data that I have looked at over the past couple of decades indicates that the more expensive homes tend to increase at a higher percentage than the average.

If the purpose of your study is for a truly important purpose, it may be prudent to have an appraisal performed on the property. The cost would only be about $250 to $300 or so, but as I said, if it's important, it well worth the investment.

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

10 Rules of the Universe

When I was researching the internet yesterday I came across the follow 10
Universal principals, these are all pretty good!

Rules of the Universe

1. Light travels faster than sound. This is why some people appear bright until you hear them speak.

2. Change is inevitable, except from a vending machine.

3. Those who live by the sword get shot by those who don't.

4. Nothing is foolproof to a sufficiently talented fool.

5. The 50-50-90 rule: Anytime you have a 50-50 chance of getting something right, there's a 90% probability you'll get it wrong.

6. If you lined up all the cars in the world end to end, someone would be stupid enough to try to pass them, five or six at a time, on a hill, in the fog.

7. The things that come to those who wait will be the scraggly junk left by those who got there first.

8. The shin bone is a device for finding furniture in a dark room.

9. A fine is a tax for doing wrong. A tax is a fine for doing well.

10. When you go into court, you are putting yourself into the hands of 12 people who weren't smart enough to get out of jury duty.

All the Best!

Mark

Should I buy my larger home this year or wait??

The question that a client just asked me was "Dear Mark, Should I buy my larger home this year or wait??"

My answer was:

Hi C,

Thank you for your real estate email inquiry. This is not an easy question to answer. Nobody knows 100% but if the past 16 years are any indication and if the last 2 months are any indication, then you should be trading up now rather than waiting.

The real estate companies have almost all increased their predictions on price increases for this year. Initially many were saying that they expect a 2 to 4% increase in prices, now it's more like 4 to 7% and even higher.

Prices are currently escalating.

When the market prices increase the larger homes always increase more. For example, if you currently live in a $300,000 townhouse and prices increase from March 1 to June 1 by 5% then the townhouse will increase by about $15,000. But, a home that is currently $400,000 will increase by at least $25,000 to maybe even $40,000 or more. This is always the case. The larger priced properties increase more.

I've been watching the market very closely since the last drop in the market prices, which was January of 2008. Since that time prices have only escalated each quarter and this is quite unnerving. If you read Garth Turner, he preaches doom and gloom all the time and the fact that the bubble is about to burst. I have followed Garth Turner since I got in the business in 1987 and he was often right back in the late 80's and early 90's but since 1995 prices have only gone up every year, year after year. See here:
http://www.mississauga4sale.com/TREBavg1995date.htm

Again, nobody can know for certain what will happen in the future, but it appears prices in the GTA will continue their steady upward slope for the foreseeable future.

If prices only increase 4% per year, the average will be well over $638,000 in a few short years! See the graph here:

http://www.mississauga4sale.com/TREBprice.htm#prediction

When you trade up it's better to buy first and then sell, but this is a tough decision and requires much thought, read more about this here:

http://www.mississauga4sale.com/sell-first-or-buy-first.htm

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

Benefits of signing a Buyer Representation Agreement TREB video

Benefits of signing a Buyer Representation Agreement TREB video




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

Latest Economic News from TD Canada Trust

Hello, I thought you might find this an interesting read from TD's
perspective on the economy.
Enjoy!
Mark

March 1, 2011

Data Release: Tax Cuts Boost Personal Income in January, But Spending
Disappoints

* Personal income bettered market expectations in January jumping 1.0%,
driven largely by payroll tax cuts.

Personal disposable income (PDI) was up 0.7% on the month; however, were it
not for the impact of the tax

changes PDI growth would have been up only a scant 0.1%, after a 0.4% gain
in December.

* Personal consumption expenditures disappointed markets, posting only a
0.2% increase in January. That muted

spending growth pushed the savings rate up a few ticks to 5.8%. The savings
rate had averaged 5.4% in the fourth

quarter of last year.

* Spending was even softer in real terms, down 0.1% on the month - the first
contraction since last April. That

reflected real declines in nondurables (-0.2%) and services (-0.1%), with
spending on durables managing to

register a 0.3% gain.

* Inflation as measured by the personal consumption deflator rose to 1.2%
unchanged from December, while core

PCE inflation (ex food & energy) is running at a 0.8% pace year-on-year, the
same reading for four months now.

Key Implications

* Today's disappointing showing for real consumer spending means that we
will likely have to revise down our target

for first quarter consumer spending. We see consumer spending posting a
closer to 2.5% pace in Q1, down from

our previous expectations of 2.9%. And in turn will likely result in
slightly lower real GDP growth than we had been

expecting for Q1.

* That said, the US saw some pretty significant storms in January, and we
could see a comeback in the months

ahead, particularly given the healthy headline income gain, although not
soon enough to save real spending in Q1.

* January's poor spending performance also stands in stark contrast to the
more positive mood consumers have

been reporting in recent confidence surveys, suggesting that the healthy
income gains should lead to decent

consumer spending growth in 2011. Friday's payrolls reading for February
will be eagerly awaited to see if jobs

growth will pick up to further underpin sustained spending growth ahead.

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

Current mortgage interest rates in the GTA

This table shows the current posted and attainable mortgage interest rates
in the GTA

TERM POSTED Attainable RATES*
6 Month 4.45% 3.75%
1 Year 3.5% 2.7%
2 Year 3.75% 3.25%
3 Year 4.35% 3.3%
4 Year 5.14% 3.79%
5 Year 5.44% 3.84%
7 Year 6.34% 5.05%
10 Year 6.65% 5.3%
Variable Rate 2.2%
Prime Rate 3%














* Rates may vary and are subject to change without notice OAC, EO&E.
Rates Last Updated: Thursday, March 03, 2011

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

Economic and Commercial Update Video from TREB

Economic and Commercial Update Video from TREB 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 Prices UP Sales DOWN in February 2011

GTA Real Estate Market Prices UP Sales DOWN in February 2011

TORONTO, March 3, 2011 -- Greater Toronto REALTORS® reported 6,266 transactions through the TorontoMLS® system in February 2011.

This result was 14 per cent lower than the record sales reported in February 2010.

While not representing a record, February 2011 sales were 50 per cent higher than the number reported in February 2009 during the recession and slightly higher than the average February sales over the previous ten years.

“Continued improvement in the GTA economy, including growth in jobs and incomes and a declining unemployment rate, has kept the demand for ownership housing strong,” said Toronto Real Estate Board (TREB) President Bill Johnston.

The average selling price for February 2011 transactions was $454,423, which was more than five per cent higher than the average selling price reported in February 2010.

“Market conditions remain quite tight in the GTA. There is enough competition between home buyers to promote continued price growth,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

I hope this finds you Happy and Healthy!

All the Best!

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

CREA is now bullish on 2011 resale real estate market

This is the latest press release from CREA and indicates that they are
becoming bullish on the Canadian real estate market for the upcoming year!
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

CREA Boosts Annual Resale Housing Forecast

OTTAWA - February 8, 2011 - The Canadian Real Estate Association (CREA) has

revised its 2011 forecast for home sales activity via the Multiple Listing
Service(r) (MLS(r))

Systems of Canadian real estate Boards and Associations, and extended it to
2012.

Sales in the second half of 2010 rebounded faster than CREA had previously
expected.

"The hand-off going into 2011, together with the highs and lows for sales
activity posted

in 2010, provided guidance for CREA's revised forecast," said Gregory Klump,
CREA

Chief Economist.

"Home buyers recognize that low mortgage interest rates represent a once in
a lifetime

opportunity. At the same time, they expect that rates will rise, so they're
doing their

homework in order to understand what it could mean in terms of higher
mortgage

payments down the road before they make an offer," said Georges Pahud, CREA

President. "The housing market and buyer psychology is different now than it
was at the

beginning of last year, so buyers and sellers would do well to consult their
REALTOR(r)

to understand local market trends."

The upward revision to CREA's forecast for 2011 reflects recent improvements
in the

consensus economic outlook and a further expected improvement in consumer

confidence. National sales activity is now expected to reach 439,900 units
in 2011,

representing an annual decline of 1.6 per cent. In 2012, CREA forecasts that
national

sales activity will rebound by three per cent to 453,300 units, which is
roughly on par

with the ten year average.

"Recent additional changes to mortgage regulations will further ensure that
buyers don't

buy more home than they can afford when interest rates inevitably rise,"
said Klump.

"The announcement of the new changes to mortgage regulations will likely
bring forward

some sales into the first quarter that would have otherwise occurred later
in the year,

particularly in some of Canada's more expensive housing markets. This is
expected to

produce a milder version of the volatility in sales activity that we saw
last year which

resulted from additional transitory factors."

Three transitory factors contributed to volatility in sales activity last
year: changes in

mortgage regulations announced last February, the early withdrawal by the
Bank of

Canada of its conditional commitment to keep interest rates on hold until
the second half

of 2010, and the introduction of the HST in BC and Ontario during the summer
of 2010.

CREA expects that home sales activity will gain traction after dipping in
the second

quarter as the economic recovery and job growth continue, incomes grow, and

consumer confidence further improves. "Even though mortgage interest rates
are

expected to rise later this year, they will still be within short reach of
current levels and

remain supportive for housing market activity. Strengthening economic
fundamentals will

keep the housing market in balance, which will keep home prices stable,"
said Klump.

Page 2

The national average home price is forecast to rise 1.3 per cent in 2011 and
2012, to

$343,300 and $347,900 respectively. Average price is expected to rise
modestly in most

provinces, reflecting the continuation of a healthy balance between supply
of, and

demand for, homes listed for sale. Although the supply of new listings is
expected to

trend higher, the expected continuation of sellers' market conditions in
Manitoba is

forecast to result in a bigger percentage increase in average price in 2011
and 2012

compared to other provinces.

Month to Month Leases Advantage or Disadvantage?

Sometimes landlords feel that they are in a disadvantaged situation when a tenant decides to change their lease from an annual term to a month to month term.

The only way that a landlord is 'disadvantaged' is that the tenant could give notice at any time during this year or the next 5 years and you have no recourse but to let them out of the lease.

Tenants do these types of things because they sometimes 'perceive' that this is a better deal for them in the event that they want to move or find something to purchase during the year, they are no longer locked into a 1 year term.

A Month to Month lease can often be a far better situation for the landlord because should you ever wish to move back into the property you do not have to wait until the end of the lease and only have to give 90 days notice and then tenant has to leave, by law. Or, at anytime you can now put the property up for sale and sell with a 90 day closing and again you do not have to wait until the end of the lease and the tenant has to move out, by law.

You are also in the same position as increasing the rent.

The Residential Tenancy Act is more in favour of the tenant and the tenants rights and security of tenancy is one of the key's to the Act. This means that when a tenant has a lease, they are secure in that lease, no matter what (except for major renovations and a few other unusual situations) and can stay in the property at least until the agreed to end of lease.

I have some information on my site:

http://www.mississauga4sale.com/Landlord-Tenant-Residental-Tenancy-Act.htm

and

http://www.mississauga4sale.com/Landlord-Tenant-Board-FAQ-2007.htm

You may browse to the government site to find http://www.ltb.gov.on.ca/

and shows all the forms and information regarding the law for landlords and tenants

Please let me know if you have any other questions or require further information.

Thank you,

Mark

Video GTA Resale Market Video by the Toronto Real Estate Board (TREB)

This is a video by the Toronto Real Estate Board (TREB) about statistics and comments on the general state of the resale real estate market in the GTA. It's less than 3 minutes long, but a very informative video, enjoy!

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

Bank of Canada keeping the prime rate fixed at 1%

The Bank of Canada announced today that they are keeping the prime rate fixed at 1%

This means that consumers can still expect to get 3% prime rate at their major banks.

This is good news for those with loans and mortgages and indicates that our economy continues to be healthy.


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