Toronto and GTA Real Estate Auctions are not that common, WHY?

If you search Google for Toronto and GTA real estate auctions, most of the results talk about auctions, but really don't give you much information about upcoming real estate auctions in the GTA. This is probably because there are not too many real estate auctions that occur in the GTA.

In my experience, most property in and around Toronto is sold through traditional methods, such as the mls, private for sales, exclusive listings and other similar methods.

You will find that there are many auctions in the US. Their system works differently.

In a similar fashion, there is rarely a foreclosure sale in Ontario, most properties sell under Power of Sale in Ontario, read more here:
http://www.mississauga4sale.com/Power-of-Sale-Articles-1-Overview.htm

I've seen and received in my email, information similar to what is shown below for US auctions.

Please email if you have more questions.
Mark

Read more about estate sale auctions:
http://www.mississauga4sale.com/Power-of-Sale-Bank-Foreclosure-FAQ.htm#EstateSales

Some people have highlighted the advantages of an auction sale as follows:


*Auctions are the fast way to convert property, they are efficient, and effective or assets into cash No other sales method works as well
* What can be sold at Auction? Real Estate, Equipment, Businesses Inventory, , etc Any asset or property that can be sold at discount
* cut your losses or Cash in on your equity
* Convenient, no hassle, we handle everything
* Quick Sale property usually sells in 7 days or less when speed is of the essence,
* A specific date is set creating a sense of urgency to buy
* Intense and accelerated marketing
* Property sells at or near the true real estate market value or more
* Property often achieves more than the anticipated selling price
* Auction environment encourages a sense competitive bidding urgency
* Get aggressive marketing strategy to buyers local and maximum exposure, , regional, national and international
* Telemarketing, direct solicitation Targeted advertising, publicity, , proprietary database of prospects and investors
* Marketing through the World Wide Web www
* Directional signage and On-site property
* Auction conveys a "fast and sales-friendly" real estate competitive atmosphere


These are the typical types of auctions found in the US

* Regularly scheduled live public real estate auctions & investor forums
* Your property Property marketed on website for USA & International viewing
* Included in regularly scheduled Live bidding and Online bidding Auctions until sold
* Your property Email Broadcast to Brokers & Investors USA & International
* Aggressive Newspaper & Magazine Advertising
* Free MLS Listing
*

These are the types of auctions found on the internet

Foreign Property
Single Family Residential
Multi Family Residential
Condominium
Business
Foreclosure
Intellectual Property
New Construction
Apartment Buildings
For Sale By Owner
Time Share
Mobile Home
REO
Commercial
Manufactured Homes
Farms & Ranches
Raw Land
Trust Deeds
Industrial
Business
Historical Buildings
Water Craft
Air Craft
Marinas & Ship Yards
R1 Sub divisions
Intellectual Property
Hotels
Motels
Parks
Bankruptcy
Trusts
Vacation Homes

Toronto Mortgage Interest Rate Update

this is a snapshot of the current rates

TERM	POSTED	Obtainable RATES*
6 Month	6.2%	6.2%
1 Year	6.35%	4.8%
2 Year	6.7%	5.35%
3 Year	7.05%	5.49%
4 Year	7.04%	5.69%
5 Year	7.2%	5.59%
7 Year	7.65%	6.2%
10 Year	8%	6.4%
Variable Rate		4.75%
Prime Rate		4%

* Rates may vary and are subject to change without notice.
Rates Last Updated: Thursday, November 13, 2008

Check out current mortgage interest rates
http://www.mississauga4sale.com/rates.htm

Have a nice weekend!

Enjoy,
Mark

Mississauga Townhomes, names and locations

Townhomes and Townhouse complexes in Erin Mills, Churchill Meadows and Streetsville, Mississauga - photos and lists showing the names, addresses and locations

http://www.mississauga4sale.com/Mississauga-Townhomes-Townhouse-Complexes.htm


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

Mississauga Condos for sale, building names and locations

Search any Condo building in Mississauga or surrounding areas. The pictures and list below shows the names and addresses of most of the highrise Condominium Buildings in Mississauga

http://www.mississauga4sale.com/Mississauga-Condominium-Building-Names.htm

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

Mississauga Condominium purchase advantages of buying and owning

I thought I would share this article with you. It covers some of the advantages of buying and owning a condominium in Mississauga and surrounding areas

Condos have become an increasingly attractive home ownership option for many people. Whether you’re a young couple looking for affordable housing, or a retired couple wanting to downsize because their kids have moved out, there is likely a condo for sale to fit your needs. A condo is a viable option for anyone who wants to own a home without the worry of repairs, maintenance and dreaded chores like snow shovelling. Condos require little work, and are maintained by the association, so the condo owner does not have to be concerned with certain maintenance activities.

As well, many people are turning away from the single-family home market and becoming more interested in the condominium market. There are three main reasons why condos are gaining such popularity: they are economical, convenient, and easy to maintain.

1. Economical. In general, condos cost less than traditional single-family homes. Some experts estimate condos are as much as 20 percent cheaper than their single-family home counterparts. Within recent years, such value has given a real boost to condominium sales.

Condominiums will increase your buying power. Condos usually sell for 20 to 30 percent less than similar detached homes, so it is an ideal option for a first time buyer with a limited budget. You will have all the luxury of owning your own home, but will be able to share the cost of upkeep on the building. For most buyers the choice is to buy a condo that meets their living needs or continue to rent.

Condominiums usually cost less to maintain than detached homes. The replacement cost of a high rise roof may be more in absolute terms than replacing the roof of a detached single-family home, but the cost per owner should be less. Depending on the cost of the repair, there should be enough money from the association fees that can cover the repair without any additional cost.

2. Convenience. Condo living can be extremely convenient. Typically, condos are strategically built near the heart of a city, where most business and entertainment establishments are located. People are choosing to forego the commute required by suburban living, opting instead to centre themselves in the city. By avoiding a long drive or train ride into work, condo owners enjoy more leisure time and a reduced-stress lifestyle.

Condominiums have amenities that some people could not otherwise afford, such as swimming pools or tennis courts, their own community centre with exercise rooms and much more.

3. Easy to maintain. Condos are also popular because they require little effort toward maintenance. Homeowners know that they are responsible for all of the upkeep and repairs that are associated with keeping a house in good shape. On the other hand, condo owners typically don’t have to worry so much about matters of upkeep or liability. Condos are typically managed by a board that makes decisions regarding repairs and other maintenance issues. With condos, taking care of your property is a very hands-off experience that usually involves the periodic paying of fees and the choice to participate, if desired, in regularly-scheduled, condominium board meetings.

Condominiums are ideal homes for first-time buyers, small families or people without children, retired couples and vacationers. While a condo can be the first step on the ownership ladder, it is often a good stand-alone investment in real estate. If the above qualities are appealing to you, you should learn more about the Condo market in your area.

See Mississauga Condos at this link: http://www.mississauga4sale.com/Mississauga-Condominium-Building-Names.htm

I wish you all the best!
Mark

Toronto and Mississauga Open House Listings

You will find open houses for all types of properties in Toronto and Mississauga and surrounding areas at this link:
http://www.mississauga4sale.com/Open-Houses-Public.htm

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

Average single family residential selling prices in Missisauga and Toronto

Read about the current state of the market in the GTA and what is the average prices for residential homes in Mississauga and Toronto:
http://www.mississauga4sale.com/TREBprice.htm


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

Mississauga and GTA Real Estate Market Update

Hello Everyone,

I hope all is well with you and your family. I thought I would give you an update as to our local Mississauga and GTA Real Estate Market.

I will use an example of a current listing that I have in the Burnhamthorpe and Highway 10 area of Mississauga to illustrate how our current market is performing.

Some of the listings that I am trying to sell have been on the market for 3 to 4 weeks. As an example of how our market currently is, there have been only 3 or 4 showings during this time period. There have been 5 sales in same immediate area over the past month or so. Normally, this same area would have over 30 sales per month and my listing would have received about 20 to 25 showings.

How times have changed.

There are 31 homes for sale in and around the immediate area of this listing, this is a large amount of properties.

The local and US and global economic problems have certainly affected our marketplace. Average prices for October were down about 4% but more importantly, the number of sale is down about 35% You can read more about this and see price graphs at this page:

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

Our marketplace is obviously soft and only properties that are now priced well are selling.

In this market we are in it seems that a seller has to reduce their price about 5% every 2 to 3 weeks on the market to get sold. This is not what people or you want to hear but this is the reality of our current marketplace, the economy.

We may not see strength back into our real estate marketplace until late spring, next fall or spring of 2010, difficult to predict. The Bank of Canada does not think that our Canadian economy will grow at all until 2010 and that is allowing for zero growth for most of 2009 with the exception of 1st quarter 2009 where the Bank of Canada thinks our economy will grow 0.1%, not a large figure.

On this particular listing my website continues to obtain many hits, inquires and views of the listing and on my site only there have been 279 views in October which was only for 11 days and so far there have been 290 views this month and I am only referring to one single listing page for this listing. Views from mls.ca are higher than these figures.

The other issue is that there are 367 homes for sale in W16 and W19. That's a staggering amount of properties for sale in only two districts and shows the competition is fierce.

Also in W16 and W19, there are 128 detached homes that are currently listed between $350,000 and $450,000

This listing has many positive aspects, but the reality is that there is huge choice out in the marketplace and we have to be a price leader to compete.

Point I am trying to make is that with all of these views and activity, we should have received more showings than we've had. The public and buyers are very particular these days and can be!

The analysis above is just a tiny slice of one small particular market region of Mississauga, but is probably indicative of most areas of Mississauga and the 905 regions. Areas of Toronto and the GTA are still performing well from what I have read over the past month.

I wish you and your family all the best!

Mark

CMHC Reports that Toronto Housing Starts Remain Strong in October

CHMC (Canada Mortgage and Housing) reported that Toronto Housing Starts Remain Strong in October

TORONTO’S HOUSING STARTS REMAIN STRONG IN OCTOBER

TORONTO, NOVEMBER 10,

2008 –

The seasonally adjusted annual rate (SAAR) of total housing starts fell by 11 per cent to 46,200 in October from the previous month, according to preliminary housing starts data released today by the Canada Mortgage and Housing Corporation (CMHC) for the Toronto Census Metropolitan Area (CMA).

After edging lower, the annual rate of home starts still remained well above the average for the past three years.

Total housing construction on an unadjusted basis remains strong so far this year with starts up by 31per cent compared to the same time period a year earlier. Condominium apartment starts continue to drive new home construction.

"Condominium apartment starts continued to be much higher than last year’s levels through October," says Jason Mercer, CMHC’s Senior Market Analyst for the GTA.

"This strongest level of condominium apartment construction on record has resulted in a substantial jump in total new home construction this year.’’

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
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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