TERB Average Annual and Median Prices back to 2001

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

Housing Market Indicators, Sales, new listings, active listings and days on the market

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

Toronto Real Estate Board TREB MLS® Average Resale Home Price Monthly with Three Previous Years for Comparison

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

Prices up Number of sales down in GTA real estate marketplace for mid February 2011

The volume of sales is down in the GTA because inventories are down. There is high demand, this is why prices are increasing, but low inventories of good homes for sale. If you are interested in selling this year, now is the time to do it!

Bottom line: We need more listings on the market!

See the mid month report from TREB below.

All the best,
Mark



GTA REALTORS(r) Report Mid-Month Resale Housing Market Figures

TORONTO, February 17, 2011 -- Greater Toronto REALTORS(r) reported 3,084
sales during the first two weeks of February 2011 - a 13 per cent decrease
compared to the first two weeks of February 2010.

"We are on pace for a strong sales result in February, but transactions will
come in lower than the record result reported last February. Sales remain
strong because the GTA resale market contains a diversity of housing types
catering to a wide array of home ownership needs," said Toronto Real Estate
Board (TREB) President Bill Johnston.

The average price for transactions during the first 14 days of February was
$451,257, representing a five per cent increase compared to the first two
weeks of February 2010.

"Average selling price growth for existing homes is expected to range
between three and five per cent this year. Tighter market conditions over
the last four months have pushed price growth to the top end of this range,"
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

By 2020 Average GTA house prices could be $638,000!

This graph shows the actual increase in residential sale prices in the GTA and the estimated prices based upon a 4% annual increase.

Current Average price for a single family home in the GTA is $427,000

Estimated average price by year 2015 is $525,000!

By 2020 average price estimate is $638,000!

Of course these are only estimates, but it shows that if the current trend continues prices will be well over $600,000 by 2020

Read more about this

Enjoy,
Mark

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

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

Toronto Real Estate BoardTREB MLS® New ListingsMonthly with Three Previous Years for Comparison

This chart plots monthly MLS® new listings 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

Canadian Real Estate Association has increased their predictions on the housing markets across Canada for 2011

The Canadian Real Estate Association has increased their predictions on the housing markets across Canada for 2011

I hope this finds you Happy and Healthy!

All the Best!

Mark

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® (MLS®) 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® 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.

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

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

Assignment of Agreements of Purchase and Sale

This article below talks about assignment of an agreement and is much more
common with condominiums in our current marketplace.
Enjoy!
Mark



Assignment of Agreements of Purchase and Sale

An Assignment of an agreement of purchase and sale is not the transfer or
assignment of real property but rather an assignment or transfer of rights
arising out of the agreement or contract relating to
real property.

Assignments have become increasingly more common in the condominium sector.
However, in all builder contracts there is a restriction on the right of the
initial buyer to assign the agreement
of purchase or sale or contract without the builder's consent. Builders will
charge the buyer a fee for the consent to assign the contract to a new or
subsequent buyer.

When the agreement is assigned to the second buyer, this buyer will be
subject to both the benefits and obligations arising under the agreement
unless otherwise provided in the assignment agreement between the initial
buyer (the assignor) and the second/subsequent buyer (the assignee). As an
example, unless otherwise agreed to between the assignor and the assignee in
their assignment agreement, the assignee will receive the benefit of the
interest the builder credits the buyer on the deposits paid to the builder
as well as incur the expense of paying builder's closing costs such as the
Tarion Warranty premium, utility meters and connections and development
charges and educational levies.

We have provided the following checklist of issues to be considered when
preparing an assignment of agreement of purchase and sale:

1. Obtain a copy of the builder's agreement of purchase and sale;

2. What form of assignment agreement to be used;

3. What is the original purchase price;

4. What is the new purchase price

5. The amount of builder deposits already paid by the assignor; are
these deposits included in new purchase price or in addition to the purchase
price as a reimbursement to the assignor (the builder will provide a credit
for these deposits to the assignee on the final statement of adjustments)

6. What is the deposit amount on the assignment transaction and who
will hold the deposit - the agent/broker, the assignor's lawyer etc.

7. status of construction and closing dates - interim occupancy and
final closing dates;

8. the anticipated possession by the assignee - pre/post interim
closing date

9. the amount of the occupancy payment

10. postdated cheques for occupancy payments and other adjustments

11. the cost to obtain builder's consent and status of obtaining such
consent

12. who pays for the consent

13. builder's form of assumption/assignment agreement

14. who is paying the builder's closing costs

15. who is receiving credit for interest on the assignor's deposits
already paid to the builder

16. How is payment of purchase price made - amount down, any amount paid
prior to possession, amount paid upon the builder's consent being obtained;
amount paid on final closing etc.

17. Other Issues - Non-residency/withholding taxes - Assignor; GST/HST;
Tarion registration by Assignor; Capital Gains Tax - Assignor

For a copy of our pro forma assignment agreement and our annotated
assignment agreement, please email us at service@shapirocho.com or go to our
website at www.shapirocho.com.

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 R Sales Monthly with Three Previous Years for Comparison

This chart plots monthly MLS(r) sales 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.