CMHC comments on Ontario holds on despite manufacturing woes — Despite

Ontario holds on despite manufacturing woes

—

Despite concern of a recession, Ontario managed to pump out growth of 2.1% last year. The manufacturing sector remained in contraction mode as output declined for a third consecutive year. The role of manufacturing in the economy continued to fall as well. In 2002, manufacturing accounted for 22% of Ontario's GDP compared to 18% in 2007.

Widespread strength in other sectors — including a vibrant consumer and a healthy construction sector — helped offset the decline. Job markets are being watched closely for signs that cracks are emerging. Despite weakness concentrated in the manufacturing and finance-related sectors, most other sectors are still adding jobs. However, a lion's share of the offset is coming from public sector job gains.

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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

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CMHC reports that Growth in house prices will slow as housing market becomes more balanced

Growth in house prices will slow as housing market becomes more balanced

For 2008, the demand will moderate.
Existing home sales, as measured by
the Multiple Listing service (MLS®),
are expected to decrease by 8.5 per
cent to 475,900 units. In 2009, the
trend will be similar with another
decrease to 465,000 units (-2.3 per
cent). MLS® sales will step back given
a moderating demand due to rising
mortgage carrying costs.
Despite a slowdown of MLS® sales
and a general ease on the market,
demand remains strong by historical
standards. For 2008 and 2009,
growth in the MLS® average price will
remain above inflation. Prices will
reach $323,000 (+5.1 per cent) in
2008 and $333,500 (+3.3 per cent)
in 2009.

It will be interesting to see if this comes true!
Mark

New Anti-Money Laundering Regulations in Canada

New Anti-Money Laundering Regulations

The Issue

The Department of Finance and FINTRAC are currently proceeding with an aggressive plan to implement new anti-money

laundering and anti-terrorist financing (AML/ATF) regulations in mid 2008 and 2009. New regulations affecting the real

estate industry take effect on June 23rd, 2008.

REALTORS® have consistently supported the federal government's efforts to monitor, document and report known

suspicious and illegal activity since 2002, and have been meeting regularly with officials since 2005 to develop a clear

implementation protocol for the adoption of the new requirements. Despite this, licensees are being asked to perform

functions that they are simply unable to do.

We also believe that neither the federal government, our industry, nor the general public is adequately prepared for the

June implementation deadline.

Our Concerns

Among the major concerns that REALTORS® have are:

• The Federal Government is unprepared for the June 23rd, 2008 deadline – placing REALTORS® at risk of noncompliance.

The interpretations and guidelines for the new regulations remain incomplete.

• Huge loopholes in the legislation still remain. For example, the private sale market is not captured under the

regulations. As a result, criminal activity can and will continue to operate through these channels.

• Government will be forcing salespeople into a law-enforcement role.

• REALTORS® will be required to identify the client of a cooperating Broker. This will leave unsecured private

information in every real estate office.

• Under the new rules, REALTORS® will now be required to ask for and verify the identity of private buyers or sellers –

individuals with whom they have no legal or contractual obligation.

• REALTORS® do not have the tools to identify beneficial owners, third party participants, or assignees.

• The industry is not prepared, in terms of procedures or security resources, for the major increase in personal

information that will evolve with the new regulations.

Recommendation:

REALTORS® urge the government of Canada to

delay the enforcement

of the new anti-money laundering and

anti-terrorist financing regulations until such a time that guidelines are clear for all concerned. Industry must be given an

appropriate amount of time to properly prepare - and thus continue to function as a partner with government in combating

criminal activity.

REALTORS® urge the government to

rescind the requirement for identifying and recording the personal information

of any individuals with whom they have no legal relationship. They also call on the government to close major loopholes in

the regulations by regulating the private sale and For Sale By Owner Industries immediately.

REALTORS® call upon the Government of Canada to

initiate a public campaign to educate the general public

with

respect to the mandatory new client identification, record keeping, and reporting requirements as authorized under the

Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

Read more about:

• Interest Rates
• Power of Sale Properties
• Price Trends
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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

• 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
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CMHC reports Housing starts will begin to trend lower in 2008

Housing starts will begin to trend lower in 2008


Despite positive economic fundamentals,
housing activity will continue
to trend down over the next
year and a half. Most of the pent-up
demand that built up during the
1990s has now been fulfilled and
residential construction activity will
gradually move in line with Canadian
demographic fundamentals. Higher
home prices and the resulting
increase in mortgage carrying costs
will temper homeownership demand,
particularly in western provinces.
Competition from the existing
home market will increase as housing
markets move toward balanced
conditions, giving homebuyers more
choice. This, in turn, will dampen
spillover demand from the existing
market into the new home market.
These trends will dampen new
home construction. The number of
starts is expected to decrease to
214,650 units in 2008 and 199,900
units in 2009.

Interesting news from CMHC!
Mark

How to Get Rid of a Telemarketer

Excerpts from How to Get Rid of a Telemarketer

Identifying a Telemarketer

Each time the phone rings there is a chance that a telemarketer looms on the other end of the line. To successfully rid yourself of
an annoying sales call, you must remain prepared to act immediately. Therefore, identifying a telemarketer as soon as-or better
yet, before-you pick up the receiver is essential to implementing effective anti-telemarketer techniques. Follow the procedures
outlined on the following pages to prepare yourself to handle unwanted calls.

1. Recognize the Ring

Always consider the activity you are engaged in when the telephone first rings. There is at least a fifty percent chance that you
are about to have an encounter with a telemarketer if you are:

Watching your favorite TV show.
Taking a bath.
Changing a diaper.
Eating dinner.
Engaged in "marital relations."
Leaving the house, late for an engagement.
Reading in the bathroom.
Napping.
Painting the ceiling.
Burning cookies.

June Says: Hi there, readers! Do you have call waiting? If you're talking long-distance with an old friend and
someone "beeps in," chances increase to eighty percent that the new caller wants to sell you something!


2. Recognize the Greeting

To deflect a sales call effectively, you must be able to identify a telemarketer and hang up (or take charge of the call--your
choice) before he or she can squeeze off seven words. If a caller answers your greeting in any of the following ways...


Four Steps to Hanging Up

Let's cut to the chase: many of you bought this book simply because you want nothing more than to rid yourselves of phone
pests. Your compassion as a human being, however, may prevent you from simply hanging up. (This may also be a sign of
codependency: by speaking to telemarketers, you are also acting as their "enabler.") Whatever the case, you need to know
how to hang up quickly and effectively. Remember, to really help those on the other end of the line, we must discourage them
from pursuing their current careers. Once you've correctly identified a telemarketer, use the four steps on the following pages to
gain the confidence you need to free yourself from sales calls.

Step 1. Interrupt the Telemarketer.

This is perhaps the hardest step, most often because once a telemarketing pitch begins, it's hard for anyone to get a word in
edgewise. It is, however, one of the most important aspects of phone solicitation deterrence: confronting telemarketing calls
relies on actually speaking.
Beginners may wish to employ an "apologetic" approach: "I'm sorry, but I must hang up the phone now. This is very difficult for
me. I'm going through a four-step program to help me learn to hang up on telemarketers. I don't blame you for the call or your
unfortunate career choice-I hope you'll understand."

If you succeed with Step 1, proceed directly to Step 4. If not, go to Step 2.

Step 2. Walk Away.

If you can't bring yourself to interrupt a telemarketer, simply set the phone down and walk away. You can rest assured the
caller will keep right on talking and never know you've gone.
Were you able to lay down the phone for at least one minute? Congratulations! You're making progress.

Now go back to Step 1 and try again to interrupt the caller, but this time speak before listening to the caller's voice-this way
you give yourself the illusion that you're not actually interrupting.
If you couldn't set the phone down for at least one minute, proceed to Step 3...

Efficient Escape 1:
Confuse the Caller

If you're confident a telemarketer looms on the other end of your ringing phone, answer by saying: "Hi, I'd like to place an
order to go," and continue by reading your favorite Chinese restaurant take-out menu. If the telemarketer doesn't on his or her
own, HANG UP!

Efficient Escape 3:
Create a Technical Difficulty

Interrupt by ignoring the telemarketer and saying, "Hello? Hello?" Click the reset button twice quickly, without hanging up, and
repeat "Hello? Hello?" Follow by saying, "Well, whoever it was, they must have hung up." Then HANG UP! If they call back,
repeat. If they call back more than three times, tell them you were just kidding, compliment them on their persistence, and
HANG UP immediately!

Efficient Escape 7:
Rehearse Your Vegas Act

Interrupt by breaking into song during the telemarketer's pitch. Don't stop until they hang up. If they remain on the line, soften
your voice, creating a "fade away" effect and hang up after a few bars. Show tunes and anything by Ethel Merman tend to be
the most effective, but nothing clears your phone line faster than your own rendition of Whitney Houston's "I Will Always Love
You." Leave the hanging up to the telemarketer.

Elaborate Encounter 1:
The Old Codger/Old Crone

If the caller asks, "Is this the man [or woman] of the house?" Tell them, "Just a minute, please." and pretend to hand the phone
to "dad" or "grandpa" (or "mom" or "grandma") as the case may be. Then use your best "old codger" (or "old crone") voice and
bombard the caller by repeating "Huh?" and "Speak up!" If they persist, go into a pointless, meandering, story that begins:
"Why, back in my day we didn't " Add drool-laden "slurp" noises for effect. The phone salesperson will soon give up.

Elaborate Encounter 6:
Vacuum Sales

Is the telemarketer offering a "free," one-room carpet cleaning? Excellent! Don't pass this one up! Simply tell them to "Come
right over! Right now! Because, believe it or not--what timing! This is great! You see, I'm fleeing--er, moving out of
state--very, very soon. Everything is set to go, but this house is a rental and I'll never get the deposit back if I don't get this
carpet cleaned. How soon could you guys get here? It will get blood stains out, won't it? How about identifiable fibers, like hair
or that DNA stuff? You know, like in the O.J. trial? Say, you don't think he really did it, do you? You want to know my
theory?" Again, run with this one as long as you can.

Elaborate Encounter 15:
Veggiebabble

Based on the theory that you don't have to actually be psychotic to act crazy, this routine causes most telemarketers to question
their career choice. When a telemarketer begins a pitch, arbitrarily begin inserting the names of vegetables as they try to speak.
After the first or second "rutabaga" or "broccoli" they should respond by saying, "What?" Reply by naming another vegetable
("okra" and "Brussels sprouts" work particularly well). The salesperson will begin laughing uncomfortably and hang up. You
win.

How to Get Rid of a Telemarketer also features a dozen more escapes and encounters, Telecommunication Specialist Bob
Schuck's guide to the modern Touchtone phone, a profile of a typical telemarketer, and even other jobs that utilize
telemarketing skills.

Enjoy,
Mark

PROTECTION TIPS for preserving your Identity

PROTECTION TIPS

While the Identity Watch program is an excellent way to guard your identity and protect your credit, no one is completely safe. Take the following steps to further minimize the risk of identity theft.

• Get a shredder and destroy any unneeded charge receipts, copies of credit applications, insurance forms, cheques and bank statements
• Cut up expired charge cards that you're discarding, and credit offers you get in the mail
• Monitor your financial records and credit rating
• Don't share personal information on the Internet unless you've initiated the contact or know who you're dealing with
• Promptly remove mail from your mailbox
• If you're away from home and can't pick up your mail, call Canada Post to request a vacation hold
• Shield your computer from viruses and spies by updating firewall and virus protection software

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.com
8 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

Mortgage interest rate update

Fixed rates have dropped slightly, RBC started the trend on Wednesday and others are following.

Below are the latest posted and discounted mortgage interest rates in the GTA

	POSTED	OUR RATES*
6 Month	6.20%	6.20%
1 Year	6.15%	4.85%
2 Year	6.15%	4.90%
3 Year	6.15%	4.99%
4 Year	6.59%	5.25%
5 Year	6.65%	4.99%
7 Year	7.40%	5.80%
10 Year	7.75%	5.90%
Variable Rate		4.00%
Prime Rate		4.75%

* Rates may vary provincially and are subject to change without notice.
Rates Last Updated: Thursday, May 22, 2008

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.com
8 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

CMHC reports on economic outlook

At a glance:
Mortgage Rates
Employment
Income
Net Migration
Natural Population
Increase
Consumer Confidence
Resale Market
Vacancy Rates


Mortgage rates have moved slightly higher over the past year. This rise, in conjunction
with higher house prices, has and will continue to push mortgage carrying costs higher.

As a result, this will ease housing demand, particularly for first-time buyers.

A record share of Canadians continue to be employed, moving the economy close to
full-employment. Accordingly, job growth should slow to rates that are more in line
with overall population growth. Job creation will continue to stimulate housing
demand, but not as much as in the previous years.

Rising incomes will continue because of tight labour markets and a strong demand for
workers. This should partially offset the negative impact of higher mortgage carrying
costs on home ownership demand.

Net migration is expected to remain strong in 2008. Ontario, Quebec, and British
Columbia will continue to attract the bulk of the international immigrants. B.C.,
Alberta and Saskatchewan will attract a large number of inter-provincial migrants from
the rest of Canada.

Canada's population is aging, and as a result, a smaller proportion of people are in
their child bearing years and thus the birth rate is decreasing. High immigration levels
will slow the average aging of the population, however, the rate of increase in the
natural population (births - deaths) is slowing. This will eventually lessen the demand
for additional housing stock in the longer term.

Consumer confidence, as measured by the Conference Board of Canada, remains
positive. Furthermore, strong consumer sentiment is expected to prevail throughout
the forecast period. Confident consumers will continue to support demand for home
ownership.

Lower existing home sales, combined with a high level of new listings in 2008, will
move the resale market towards more balanced territory. As a result, the rate of
growth in the average MLS® price will moderate during 2008, especially in Canada's
western provinces.

Modest rental construction and increased competition from the condo market will be
offset by strong rental demand due to high immigration and a rising gap between the
cost of homeownership and renting. As a result, vacancy rates across Canada's
metropolitan centres should remain relatively stable, but slightly higher in 2008.

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.com
8 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

CREA report on Canadian existing home sales

Canadian existing home sales for April were released late this afternoon by the Canadian Real Estate Association, and were up a tad from March (+0.8% in seasonally adjusted terms).

That still left sales down 6.1% y/y versus a weather-pounded 18.7% y/y plunge in March. (In seasonally adjusted terms, sales were down 12% y/y in both months.) Average prices rose just 3.2% y/y, versus a Q1 pace of 5.5% and an 11% increase for all of 2007. That’s the slowest increase for prices since October 2001. Prices actually fell from a year ago in both Calgary and Edmonton, as well as in Windsor and St. Catharines. (Talk about the two extremes of the growth rainbow.)

Even Vancouver saw price increases dip into single-digit terrain, joining Toronto and Ottawa. However, Regina (at +64.6% y/y), Saskatoon (+31.2%) and Winnipeg (+19.9%) are still ripping along with double-digit price gains, joined by a few other smaller cities in central and eastern Canada.

So far this year, national home sales are down 11% y/y, and prices are up a moderate 4.8%.

The sales drop and the modest price gain are well down from years of double-digit increases, and further confirmation that the boom days are over. Notably, no city in the country has reported a price decline from year-ago levels over the first four months of the year, so the slowdown is still far from mimicking the U.S. experience.

However, we would point out that new listings have climbed more than 8% this year, even as sales have slid, pointing to “a more balanced market” according to CREA (i.e. much more of a buyer’s market), and even less upward pressure on prices looking ahead. In CREA’s words --- “presentation factors such as prudent pricing are necessary for a faster sale”. That’s a polite way of saying: If you’re looking for double-digit price gains, dream on

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.com
8 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

Holiday weekend rate update & more

Hello,

Hoping everyone has some free time to enjoy the first long weekend of the spring/summer season! If the weather guys are right....the yard work may need to be postponed!

Important information about variable rate mortgages:

Did you know:

• Lenders allow clients to switch their variable rate mortgage into a fixed rate product during the term;
• Only a few lenders will commit in writing, that the client will receive the best rate when they switch;
• Most lenders will offer the posted rate (approx. 1.5% higher than the best rate).
  

Of course, no one advertises the rate will be posted but when the decision is made to lock-in, it becomes a very shocking & expensive realty.

Working with a mortgage broker, you will receive unbiased advise & information.

Based on the comparison of all the features & terms, the mortgage broker can advise you on the best lender for the type of mortgage you want. Having choices is significant.

Interest rates have remained stable...the next Bank of Canada announcement is scheduled for June 10th.

Have a great weekend,
Mark