Tuesday, February 12, 2008

RSP deadline reminder - contribution deadline is February 29th!

RRSP Deadline reminder and information

With the deadline for making your 2007 RSP contribution fast approaching, we want to remind you to contribute and I have contacts for everything you need to invest with confidence.

Were here to provide you with a direct, secure and convenient way to invest. And we re constantly working to add value to your investing experience.

Remember, the 2007 RSP contribution deadline is February 29. Contribute today and take advantage of the outstanding pricing, tools and research available to help you manage your RSP with confidence.

If you bank with RBC, contributing to your RSP from your online investing site is easy:

1. Simply click on Transfer Funds from the Self Service menu on any page of your online investing site.
2. Follow the instructions for moving funds to your RSP from the RBC Royal Bank® account you have on file, your RBC Direct Investing investment account or both.

If you need contact information or any assistance with RSP's please let me know and I will put you in contact with the appropriate person.

Read more about:Homes for Sale

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.com
8 Website : Mississauga4Sale.com

Homes for Sale

Financing Hurdles - Self employed, needing a second home, low downpayment

In order to help you when you have financing difficulties, some lenders can offer creative financing in many different situations. Below is one of those lenders. Some lenders feel that they can offer alternatives and help you with their financing, if you need a contact with Scotia, please let me know and I will forward you contact information.

Not everybody is in the same boat.

That's why Scotiabank's mortgages are not all the same.

Down Payment Hurdles

If you haven't been able to save funds for a down payment:

Scotia Free Down Payment Mortgage - Coming up with a 5% down payment isn't always easy, especially with closing costs, moving expenses, and all the other costs associated with buying a home. With this mortgage, Scotiabank pays a 5% down payment for you.

Scotia® 100% Mortgage Program - This program allows you to borrow the full amount of the property value of the home you want to buy.

Self-Employed

If you're having difficulty getting a mortgage because you are self-employed or a commissioned sales person:

Scotia® Mortgage for Self-Employed - Scotiabank offers a simplified credit approval process and the ability to select almost any Scotiabank home ownership solution. You can qualify for hassle-free home financing with as little as 5% down.

Second Homes

If you're looking for a second home as a vacation property or a home for a family member:

The Scotia Secondary Home Financing Program offers first mortgage financing secured on all types of Secondary Homes, including Type A and Type B vacation properties.

Or, with the Scotia Total Equity® Plan, you could use the equity in your principal residence to finance virtually any type of property from a four-season home to something more remote.

Flexibility

If you're looking for savings and flexibility with a variable rate mortgage:

Scotia Flex Value® Mortgage - Flexibility means greater mortgage value: a low rate less than Scotiabank Prime Rate, low payments, and a guaranteed rate discount when locked into Scotiabank's 5-year fixed rate.

Scotia Ultimate Variable Rate® Mortgage - All the benefits of lower interest rates with the security of a capped rate and fixed payments for the full 3-year term.

Consistency

If you're looking for consistency in mortgage payments:

Fixed Rate Mortgages - No matter what rates are doing, you can lock in at a rate that makes you comfortable. From 6 months to 10 year terms, all at very competitive rates.

read more about:Homes for Sale

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.com
8 Website : Mississauga4Sale.com

Homes for Sale

Monday, February 11, 2008

Power of Sale Maintenance Fees shown on the MLS listing information

Another question I get asked quite often about Power of Sale properties is if the maintenance fee of $0 per month is correct as shown on the MLS listing. Same with the property taxes, often the amount shown for the property taxes on the listing for a POS property is often $0

My answer to this common question is as follows:

It's not a misprint, it's done on purpose by the listing agent and/or the bank who is selling the property. Many banks want the agents to put zero for maintenance fees and taxes on the listings.

The reason is so the bank is not responsible for any amount that may have been stated on the mls listing. If the bank showed $400 per month and it ended up being $450 per month, normally a purchaser could go after the bank/seller for the difference. If it's shwon as zero dollars and in the fine print of the offer, it states that the purchaser must investigate and satisfy themselves of the monthly maintenance and taxes, so the bank is off the hook in showing the correct amount.

In Mississauga, all of the 'normal' condo maintenance items, such as heat, hydro, water, common element maintenance, building insurance and common element parking is usually included in a condo maintenance fee. Usually the property taxes and cable TV are not included in the maintenance fees. In some of the newer condos hydro is NOT included, so you have to be careful when assuming that the listing agent has entered the correct information or not. Always best to confirm through me.

I hope this helps. Please let me know if you have other questions.

Thank you,
Mark

Read more about:Homes for Sale

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.com
8 Website : Mississauga4Sale.com

Homes for Sale

Here are some very innovative mortgage products for those in need

This is just a reminder of some the innovative mortgage products that are available for my clients.

- up to 100% financing... even on rental properties!
- up to 95% financing for self-employed individuals on STATED INCOME!
- money for renovations CAN be included in mortgage
- amortization of up to 40 years

Not to mention the absolute BEST customer service in the business!

*ask me about how I can offer you a FREE one-year warranty on their new home!

I have mortgage broker contacts that will also find the lowest available rate for you if you are in any of the following situations:

-weak credit
-self-employed
-new immigrant
-power of sale
-past bankruptcies
-non-qualifying income
-debt consolidation
-refinancing
-renovations


These mortgage people that I deal with would love the opportunity to show you what they can do.

read more about:Homes for Sale

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.com
8 Website : Mississauga4Sale.com

Homes for Sale

Thursday, February 07, 2008

FEBRUARY GTA Real Estate Report - Strength in central Toronto drives the market to a healthy start!

Toronto Real Estate Board (TREB) Average Prices and GraphFEBRUARY GTA Real Estate Report - Strong performance in central Toronto drives the market to a healthy start!

New Year Off To Good Start

February 5, 2008 -- A strong performance within TREB's Central districts drove the Toronto area real estate market to a healthy 5,073 sales in January, off just two per cent from last year's record performance, President Maureen O'Neill announced today.

"While sales were strong, price increases remained modest, with the average rising six per cent to $374,449," said Ms. O'Neill. "There is clearly still a place for the first-time buyer in today's resale market."

NEIGHBOURHOOD CORNER Mississauga

There were 647 sales in Mississauga this January, a decline of three per cent over the first month of 2007. The average price came in at $339,655, a one per cent increase over the same time-frame last year. Of these sales, 196 were of detached homes which averaged $516,190, up eight per cent over January '07.

Read more about Price Trends

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale


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
2
FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : mark@mississauga4sale.com
8 Website : Mississauga4Sale.com



Wednesday, February 06, 2008

GTA Strong performance for Resale Housing Market Solid January!

Toronto Real Estate Board (TREB) Average Prices and GraphTREB just announced:

February 5, 2008 -- January's Greater Toronto Area resale housing market came within two per cent of a record performance for the month, Toronto Real Estate Board President Maureen O'Neill announced today.

A total of 5,073 properties changed hands last month, compared to the record 5,173 sales that took place in January 2007.

"This is a very positive start to the year but we will be watching closely to see how the City of Toronto's new land transfer tax and a proposed property tax increase affect the market," said Ms. O'Neill.

The average price, which currently stands at $374,449, rose six per cent compared to January 2007.

The strongest activity last month took place in Toronto's Central and East districts.

The Danforth (E03) experienced a 30 per cent increase in transactions compared to last January, driven by strong sales in all housing types.

In West Agincourt (E05) 32 per cent more homes changed hands, primarily as a result of a surge in condominium apartment sales.

Strong condominium apartment sales also lead the Downtown Core (C01) to a 19 per cent overall increase in transactions compared to a year ago.

North York Willowdale (C07) also saw a 19 per cent increase in sales, due in large part to condominium apartment transactions as well.

"While we are optimistic that the market will remain healthy throughout 2008, we recognize there are threats such as a U.S. economic slowdown and a land transfer tax in the City Toronto," said Ms. O'Neill. "Like other levels of government, municipalities should be considering options to help off-set these risks. TREB plans to be a strong voice for REALTORS® and homebuyers as GTA municipalities, particularly the City of Toronto, debate their budgets."

Toronto REALTORS® are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service designed exclusively for REALTORS®. Serving more than 24,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board.

See all Price Trends

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale

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
2
FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : mark@mississauga4sale.com
8 Website : Mississauga4Sale.com


Tuesday, February 05, 2008

RRSP withdrawal qualifications under the Federal Home Buyers Program (HBP)

Did you know....Home buyers who qualify for a RRSP withdrawal under the Home Buyers Program (HBP):
  • have up to 30 days after closing to withdraw funds from their RSP;
  • don't need to use all the funds towards the down payment (money can be used for closing costs, home renos etc);
  • are allowed a maximum withdrawal of $20,000/ qualified home buyer;
  • have 15 years to repay their RSP; & Revenue Canada helps keep accounting straight by providing a statement on the annual Notice of Assessment outlining repayment requirements.

Of course, when there is a tax implication, it's always prudent for the client to review the regulations with Revenue Canada.... http://www.cra-arc.gc.ca/tax/individuals/topics/rrsp/hbp/menu-e.html

Let me know how I can help. The following list are some of the current 'best' mortgage interest rates you can find.


Mortgage Interest Rate Update
February 1st, 2008

Prime Rate .5.75%
Variable Rate .Prime less .60%
1 year closed .5.65%
3 year closed .5.95%
5 year closed .5.84%
7 year closed .5.98%
10 year closed ...6.05%
25 year closed ...7.10%

See the current online Interest Rates

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale

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
2
FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

RE/MAX Real Estate Agents Children's Miracle Network raise over $4 million

This is a press release from REMAX Ontario Atlantic

RE/MAX Realtors raise over $4 million for Children's miracle Network

Mississauga, ON (February 5, 2008) -Housing sales and average price weren't the only records being shattered across Canada in 2007. RE/MAX realtors also set a new benchmark in charitable giving, raising over $4 million for Children's Miracle Network.

The donation surpasses the realtors' 2006 contribution by more than 14 per cent. Since 1992, RE/MAX sales associates nationwide have contributed close to $30 million to the cause.

"It's amazing what can be accomplished when people work toward a meaningful cause," says Christine Martysiewicz, Director of Internal and Public Relations, RE/MAX Ontario-Atlantic Canada. "The synergy, commitment and enthusiasm of the RE/MAX network are truly phenomenal. However, what's more amazing is that the charitable efforts undertaken by our realtors are 100 per cent voluntary. Supporting Children's Miracle Network is a chance to make a real difference in the lives of local children and families in their own communities. That type of involvement is something that's been woven into the fabric of the RE/MAX organization since its inception. The way we see it, we don't just serve and work in these communities, we truly are a part of them, and we care-it's that simple."

RE/MAX realtors generate donations through the RE/MAX Miracle Home Program®, whereby a portion of their commission earned on the purchase or sale of each home is given to Children's Miracle Network affiliated hospitals. Children's Miracle Network supports 14 children's hospitals and foundations across Canada. Donations are often maximized through additional fundraising events including golf tournaments, gala evenings with silent auctions, casual Fridays and much more. Funds raised in each community stay in that community to be invested in the local Children's Miracle Network hospital.

'What many don't realize is that the corporate and private sectors play a vital role in making miracles possible," says Marie Sheppy, Senior Coordinator, Corporate Affairs, RE/MAX of Western Canada. "With public coffers stretched to the limit, it's a fact that organizations like RE/MAX fund a significant portion of the required cost to treat sick and injured children in pediatric facilities across Canada. We work so hard because we know our donations mean more than dollars and cents-it's an opportunity for healthy, happy childhoods and hope for promising futures. There really is nothing more rewarding than watching kids just be kids."

In Canada, the funds raised on behalf of Children's Miracle Network help support outreach programs and fund advancements in critical research, as well as upgrades to medical facilities and equipment.

"The outstanding generosity of RE/MAX Associates has helped more than 2.5 million Canadian children in 2007 alone - that's 1 in 4 kids nationally," says John Hartman, Chief Operating Officer - Canada, Children's Miracle Network. "RE/MAX has made Children's Miracle Network hospitals a vital part of what they do and continue to put giving back at the top of their agenda. Since 1992, RE/MAX has been a strong supporter of Children's Miracle Network. Their dedication, passion and enthusiasm for the kids and families in their communities across Canada is outstanding. They continue to give and give more. We are very proud to be affiliated with RE/MAX. The progress being made thanks to contributions like RE/MAX's has been nothing short of astonishing. While care and outcomes have improved significantly, it also remains a reality that the need has never been greater."

In Canada, the children's hospitals/foundations receiving funding from Children's Miracle Network are: BC Children's Hospital Foundation in Vancouver, Alberta Children's Hospital Foundation in Calgary, Stollery Children's Hospital Foundation in Edmonton, Children's Health and Hospital Foundation of Saskatchewan in Saskatoon, The Children's Hospital Foundation of Manitoba in Winnipeg, SickKids Foundation in Toronto, Children's Health Foundation in London, McMaster Children's Hospital in Hamilton, Children's Hospital of Eastern Ontario Foundation in Ottawa, Operation Enfant Soleil (St. Justine's Children's Hospital, Montreal Children's Hospital, Centre hospitalier universitaire de Québec (CHUQ) , IWK Health Centre in Halifax, and Janeway Children's Hospital Foundation in St. John's. For more information, visit:
www.childrensmiraclenetwork.ca.

RE/MAX is Canada's leading real estate organization with over 17,600 sales associates in more than 650 independently-owned and operated offices. The RE/MAX franchise network is a global real estate system
operating in over 65 countries. More than 7,000 independently-owned offices engage nearly 115,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral and asset management. For more information, visit:
www.remax.ca.

Read more about RE/MAX at my site

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale

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
2
FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : mark@mississauga4sale.com
8 Website : Mississauga4Sale.com

Monday, February 04, 2008

Condo prices on the rise in Toronto and GTA

Condo Prices outpace Detached homes in parts of the GTA in 2007

For the first time, the average price of a condominium in some GTA districts last year rose at a higher rate than single-detached houses.


In the GTA's central core district, the average condo price in 2007 jumped by 12.2 per cent (to $327,559 from $292,064), according to Re/Max Ontario-Atlantic Canada. In the same year, the average price for single-detached homes in the same district went up by 11.5 per cent (to $910, 906 from $816,938).


In the west end, condo prices increased by 7.3 per cent, single-detached prices by 6.6 per cent.


"Condominiums are clearly a viable – and now financially feasible – alternative to single-detached housing," says Michael Polzler, executive vice-president of Re/Max Ontario-Atlantic Canada.


Condo prices rose by double-digit amounts in 12 of 63 Toronto Real Estate Board districts in the GTA last year, Re/Max said in a statement. The best-performing district was Bayview Village, where average condo prices jumped by 40.8 per cent (to $340,113 from $241,611).


As for single-detached homes, their average prices increased by double-digit amounts in 13 of those 63 TREB districts, led by Forest Hill, where the average price climbed by 21.1 per cent (to $1,028,960 from $849,697).


Read more about Price Trends


Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale


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
2
FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : mark@mississauga4sale.com
8 Website : Mississauga4Sale.com




Friday, February 01, 2008

Pricing your home to sell and the "High Price Tactic"

Pricing your home to sell can be tricky business, lookout for the "high price tactic" from some agents.

Listing a home at too high a price is the biggest mistake home sellers make. A high price will discourage buyers from even looking at a home they might otherwise be able to afford. In addition, realistically priced homes in the same neighbourhood will look better by comparison.

Of course, you don't want to set your sales price too low, either. The idea is to net the most money possible from the home sale. The price you set should reflect what other comparable homes in the area have recently sold for. It should leave some space for making concessions in order to close the deal. And it should take into consideration current trends--whether it's a buyer's or seller's market.

Read about the "High Price Tactic"

Search the MLS or read more about Interest Rates, Power of Sale Properties, Price Trends and more at my website. Homes for Sale

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
2
FAX 905-828-2829 ÈCELL 416-520-1577
E-MAIL : mark@mississauga4sale.com
8 Website : Mississauga4Sale.com