See the latest newsletter at this link:
Latest Newsletter
or see price graphs at this page:
see graph of prices here
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
Tuesday, November 06, 2012
Monday, November 05, 2012
GTA Real Estate Sales volumes down between 7 and 15% for monthly figures for November 2012
This is the latest report from the Toronto Real Estate Board on monthly sales figures from November.
I'll publish the complete report shortly and provide a link for you.
Mark
GTA REALTORS® RELEASE MONTHLY RESALE HOUSING FIGURES
TORONTO, November 3, 2012 – Greater Toronto Area REALTORS® reported 6,896 transactions through the TorontoMLS system in October 2012 – a decrease of 7.1 per cent compared to October 2011. There were two more business days in October 2012 versus October 2011. On a per business day basis, transactions were down by 15.6 per cent.*“Sales have decreased in the second half of this year compared to 2011, especially since the onset of stricter mortgage lending guidelines at the beginning of July. The prospect of higher monthly mortgage payments due to the reduced maximum amortization period has prompted some households to delay their home purchase,” said Toronto Real Estate Board (TREB) President Ann Hannah.
The average selling price for October transactions was $503,479 – up 6.2 per cent compared to October 2011. The MLS® Home Price Index composite benchmark price, which allows for an apples-to-apples comparison in terms of home attributes, was up by 5.1 per cent.
“We continue to see price increases well above the rate of inflation. Active listings have remained low from a historic perspective, so substantial competition between buyers still exists, especially for low-rise homes,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
“It should be noted, however, that the annual rate of price increase has been edging lower over the past few months as the market has gradually become better supplied,” continued Mercer.
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
Friday, October 26, 2012
David Attenborough - BBC - 2 minute video on what a wonderful world that we live in!! :-)
this is a great 2 minute video on what a wonderful world we live in!! :-)
http://www.youtube.com/watch?v=B8WHKRzkCOY
http://www.youtube.com/watch?v=B8WHKRzkCOY
Wednesday, October 24, 2012
Question about GTA market following the drop in Vancouver's real estate marketplace
I had a couple of questions from a reader.
She asked:
Thanks Mark for the statistics. My concern is although the price rise, sales volume drop by 21%. Does this signal that indicate GTA follow Vancouver style?
Media guys says Vancouver also showed high price increase st year with significant drop in sales volume and eventually ended up in falling prices.
and I responded: Yes, I understand your concern. Many feel that this may spill over to the GTA marketplace. Nobody can predict the future. Our GTA marketplace has slowed slightly over the past few months but it's too early to tell if this is a seasonal slowdown or the beginning of an overall slowdown. Our prices have not skyrocketed at the same pace as Vancouver over the past 5 or 10 years, so personally, I don't think our market will drop as it has in Vancouver.
and she responded:
Thanks Mark for the clarification. I agree no one can predict the future with 100% certainty.
I too believe sales drop may be seasonal based on the sales trends
2010 -1st half sales were up but 2nd half sales were down.
2011 1st 4 month sales were down but 2nd half was up
2012 First half sales were up but the 2nd half were slow.
and I responded:
Yes, your analysis and observations are correct, but, as the Royal Bank always tells me when I read about their mutual funds performance, they say, "past results are no indication of future performance" so we must always exercise caution..... and this is the unsolicited advice I offer you today, 'exercise caution" in our real estate market over the next few months...... All the best! Mark
She asked:
Thanks Mark for the statistics. My concern is although the price rise, sales volume drop by 21%. Does this signal that indicate GTA follow Vancouver style?
Media guys says Vancouver also showed high price increase st year with significant drop in sales volume and eventually ended up in falling prices.
and I responded: Yes, I understand your concern. Many feel that this may spill over to the GTA marketplace. Nobody can predict the future. Our GTA marketplace has slowed slightly over the past few months but it's too early to tell if this is a seasonal slowdown or the beginning of an overall slowdown. Our prices have not skyrocketed at the same pace as Vancouver over the past 5 or 10 years, so personally, I don't think our market will drop as it has in Vancouver.
and she responded:
Thanks Mark for the clarification. I agree no one can predict the future with 100% certainty.
I too believe sales drop may be seasonal based on the sales trends
2010 -1st half sales were up but 2nd half sales were down.
2011 1st 4 month sales were down but 2nd half was up
2012 First half sales were up but the 2nd half were slow.
and I responded:
Yes, your analysis and observations are correct, but, as the Royal Bank always tells me when I read about their mutual funds performance, they say, "past results are no indication of future performance" so we must always exercise caution..... and this is the unsolicited advice I offer you today, 'exercise caution" in our real estate market over the next few months...... All the best! Mark
Tuesday, October 23, 2012
The price of real estate depends upon.....
This is an interesting article
interest rates and mortgages:
http://www.theglobeandmail.com/report-on-business/economy/housing/higher-mor
tgage-rates-would-hit-households-hard-bmo/article4629849/?cmpid=rss1
What happened in 2008?
After the 2007 inflation?
What happened in 1988-1996?
After the 1970s stagflation?
And what will happen in the future?
Interest rates will stay low FOREVER and EVER?
Live long enough and find out.
The article states: "with signs the real estate market could now be turning
a corner after years of strong growth" and this is true, our market has been
soft since about Labour Day with no reason to rebound between now and
December, this indicates a downturn in prices, it's coming
The Fed's have a bid problem on their hands, with low rates people are
borrowing and increasing their debt but if they increased the bank rate it
would cause panic - what to do?!
I don't feel we are at the precipice of a giant slide in prices, more of a
small adjustment, maybe 10% drop or so and then a leveling out
As long as there are jobs and people are working, the economy should
survive, otherwise.......
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
interest rates and mortgages:
http://www.theglobeandmail.com/report-on-business/economy/housing/higher-mor
tgage-rates-would-hit-households-hard-bmo/article4629849/?cmpid=rss1
What happened in 2008?
After the 2007 inflation?
What happened in 1988-1996?
After the 1970s stagflation?
And what will happen in the future?
Interest rates will stay low FOREVER and EVER?
Live long enough and find out.
The article states: "with signs the real estate market could now be turning
a corner after years of strong growth" and this is true, our market has been
soft since about Labour Day with no reason to rebound between now and
December, this indicates a downturn in prices, it's coming
The Fed's have a bid problem on their hands, with low rates people are
borrowing and increasing their debt but if they increased the bank rate it
would cause panic - what to do?!
I don't feel we are at the precipice of a giant slide in prices, more of a
small adjustment, maybe 10% drop or so and then a leveling out
As long as there are jobs and people are working, the economy should
survive, otherwise.......
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
Thursday, October 04, 2012
GTA REALTORSR RELEASE MONTHLY RESALE HOUSING FIGURES
this is the latest report from TREB on the sales and average prices for
September
GTA REALTORS(r) RELEASE MONTHLY RESALE HOUSING FIGURES
TORONTO, October 3, 2012 - Greater Toronto Area (GTA) REALTORS(r) reported
5,879 transactions through the TorontoMLS system in September 2012. The
average selling price for these transactions was $503,662, representing an
increase of more than 8.5 per cent compared to last year.
The number of transactions was down by 21 per cent in comparison to
September 2011. However, it is important to note that there were two fewer
working days in September 2012 compared to September 2011. The majority of
transactions are entered on working days. On a per working day basis, sales
were down by 12.5 per cent year-over-year.
"While sales have been lower due to stricter mortgage lending guidelines, we
continue to see substantial competition between buyers. The months of
inventory trend remains low from a historic perspective, which explains the
strong price increases we are experiencing," said Toronto Real Estate Board
President Ann Hannah.
September average selling prices were up compared to last year for all major
home types. Price growth was strongest in the City of Toronto, including
condominium apartments with eight per cent year-over-year growth. All
benchmark home types included in the MLS(r) Home Price Index (MLS(r) HPI)
experienced year-over-year price increases, with substantially stronger
increases for low-rise home types.
"Barring a major change to the consensus economic outlook, home price growth
is expected to continue through 2013. Based on inventory levels, price
growth will be strongest for low-rise home types, including single-detached
and semi-detached houses and town homes," said TREB's Senior Manager of
Market Analysis, Jason Mercer.
Mark
September
GTA REALTORS(r) RELEASE MONTHLY RESALE HOUSING FIGURES
TORONTO, October 3, 2012 - Greater Toronto Area (GTA) REALTORS(r) reported
5,879 transactions through the TorontoMLS system in September 2012. The
average selling price for these transactions was $503,662, representing an
increase of more than 8.5 per cent compared to last year.
The number of transactions was down by 21 per cent in comparison to
September 2011. However, it is important to note that there were two fewer
working days in September 2012 compared to September 2011. The majority of
transactions are entered on working days. On a per working day basis, sales
were down by 12.5 per cent year-over-year.
"While sales have been lower due to stricter mortgage lending guidelines, we
continue to see substantial competition between buyers. The months of
inventory trend remains low from a historic perspective, which explains the
strong price increases we are experiencing," said Toronto Real Estate Board
President Ann Hannah.
September average selling prices were up compared to last year for all major
home types. Price growth was strongest in the City of Toronto, including
condominium apartments with eight per cent year-over-year growth. All
benchmark home types included in the MLS(r) Home Price Index (MLS(r) HPI)
experienced year-over-year price increases, with substantially stronger
increases for low-rise home types.
"Barring a major change to the consensus economic outlook, home price growth
is expected to continue through 2013. Based on inventory levels, price
growth will be strongest for low-rise home types, including single-detached
and semi-detached houses and town homes," said TREB's Senior Manager of
Market Analysis, Jason Mercer.
Mark
Saturday, September 08, 2012
September 2012 latest figures from the Toronto Real Estate Board
These are the latest figures from the Toronto Real Estate Board
http://www.mississauga4sale.com/TREBprice.htm
GTA REALTORS(r) RELEASE MONTHLY RESALE MARKET FIGURES
TORONTO, September 6, 2012 - Greater Toronto Area (GTA) REALTORS(r) reported
6,418 sales through the TorontoMLS system in August 2012, representing a
year-over-decline of almost 12.5 per cent compared to 7,330 sales reported
in August 2011. The number of new listings reported in August was down by
5.5 per cent compared to the same period in 2011.
"Residential transactions were down in August compared to last year.
Stricter mortgage lending guidelines, which came into effect in July,
arguably played a role. In the City of Toronto, the additional impact of
relatively higher home prices coupled with the upfront cost associated with
the City's Land Transfer Tax led to a stronger annual decline in sales
compared to the rest of the GTA," said Toronto Real Estate Board (TREB)
President Ann Hannah.
The average selling price for August 2012 transactions was $479,095 - up by
almost 6.5 per cent compared to August 2011. The annual rate of price growth
was driven by the low-rise home segment in the City of Toronto, including
single-detached homes with an average annual price increase of 15 per cent.
The MLS(r) Home Price Index (MLS(r) HPI)* composite index, which allows for
an apples-to-apples comparison of benchmark home prices from one year to the
next, was up by 6.3 per cent year-over-year.
"While sales were down year-over-year in the GTA, so too were new listings.
As a result, market conditions remained quite tight with substantial
competition between buyers in the low-rise market segment," said Jason
Mercer, TREB's Senior Manager of Market Analysis. "The trends for sales and
new listings are moving somewhat in synch, suggesting that the relationship
between sales and listings will continue to promote price growth moving
forward."
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
http://www.mississauga4sale.com/TREBprice.htm
GTA REALTORS(r) RELEASE MONTHLY RESALE MARKET FIGURES
TORONTO, September 6, 2012 - Greater Toronto Area (GTA) REALTORS(r) reported
6,418 sales through the TorontoMLS system in August 2012, representing a
year-over-decline of almost 12.5 per cent compared to 7,330 sales reported
in August 2011. The number of new listings reported in August was down by
5.5 per cent compared to the same period in 2011.
"Residential transactions were down in August compared to last year.
Stricter mortgage lending guidelines, which came into effect in July,
arguably played a role. In the City of Toronto, the additional impact of
relatively higher home prices coupled with the upfront cost associated with
the City's Land Transfer Tax led to a stronger annual decline in sales
compared to the rest of the GTA," said Toronto Real Estate Board (TREB)
President Ann Hannah.
The average selling price for August 2012 transactions was $479,095 - up by
almost 6.5 per cent compared to August 2011. The annual rate of price growth
was driven by the low-rise home segment in the City of Toronto, including
single-detached homes with an average annual price increase of 15 per cent.
The MLS(r) Home Price Index (MLS(r) HPI)* composite index, which allows for
an apples-to-apples comparison of benchmark home prices from one year to the
next, was up by 6.3 per cent year-over-year.
"While sales were down year-over-year in the GTA, so too were new listings.
As a result, market conditions remained quite tight with substantial
competition between buyers in the low-rise market segment," said Jason
Mercer, TREB's Senior Manager of Market Analysis. "The trends for sales and
new listings are moving somewhat in synch, suggesting that the relationship
between sales and listings will continue to promote price growth moving
forward."
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
Friday, June 22, 2012
New Mortgage Guidelines in Canada as per Finance Minister Jim Flaherty June 21 2012
Hello, This is a Summary of changes to mortgage guidelines as per Finance
Minister Jim Flaherty...(effective July 9th, 2012)
1) The maximum amortization period for purchases with less than a 20% down
payment will be 25 years (down from 30 years)
2) Home owners will only be able to refinance their homes up to 80% of the
home's value (down from 85%)
3) The government is also resetting the maximum Gross Debt Servicing ratio
(GDS) to 39% and the Total Debt Servicing ratio (TDS) to 44% (Currently, GDS
does not apply to qualified borrowers with credit scores of 680+) ***see
below for info GDS and TDS
4) Mortgage Insurance will no longer be available of homes over $1 million
(you will need to have at least 20% down payment)
OSFI (The Office of the Superintendent of Financial Institutions Canada is
the primary regulator and supervisor of federally regulated deposit-taking
institutions
Also announced the following changes...
1) The maximum loan to value on home equity lines of credit (HELOCs) is
cut to 65% from 80%
2) The loan to value will be re-calculated upon any refinancing and
whenever the lender deems prudent
3) HELOCs will continue to serve as revolving lines of credit with no
specific amortization period. However, OSFI says lenders must now expect
borrowers to have the ability to fully repay HELOCs over time.
Debt Ratios (GDS / TDS Ratios)
Lenders have long relied on two standard measures of one's "ability to pay"
their mortgage:
Gross Debt Service (GDS): The percentage of the borrower's income that is
needed to pay all required monthly housing costs (mortgage payments,
property taxes, heat and 50% of condo fees).
Total Debt Service (TDS): The percentage of the borrower's income that is
needed to cover housing costs (GDS) plus any other monthly obligations that
an individual has, such as credit card payments and car payments.
The acceptable ratios for both have generally been 32% and 40% respectively.
For people with very high credit scores, GDS requirements are often waived
and the TDS maximum is slightly higher (44% as of January 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
Minister Jim Flaherty...(effective July 9th, 2012)
1) The maximum amortization period for purchases with less than a 20% down
payment will be 25 years (down from 30 years)
2) Home owners will only be able to refinance their homes up to 80% of the
home's value (down from 85%)
3) The government is also resetting the maximum Gross Debt Servicing ratio
(GDS) to 39% and the Total Debt Servicing ratio (TDS) to 44% (Currently, GDS
does not apply to qualified borrowers with credit scores of 680+) ***see
below for info GDS and TDS
4) Mortgage Insurance will no longer be available of homes over $1 million
(you will need to have at least 20% down payment)
OSFI (The Office of the Superintendent of Financial Institutions Canada is
the primary regulator and supervisor of federally regulated deposit-taking
institutions
Also announced the following changes...
1) The maximum loan to value on home equity lines of credit (HELOCs) is
cut to 65% from 80%
2) The loan to value will be re-calculated upon any refinancing and
whenever the lender deems prudent
3) HELOCs will continue to serve as revolving lines of credit with no
specific amortization period. However, OSFI says lenders must now expect
borrowers to have the ability to fully repay HELOCs over time.
Debt Ratios (GDS / TDS Ratios)
Lenders have long relied on two standard measures of one's "ability to pay"
their mortgage:
Gross Debt Service (GDS): The percentage of the borrower's income that is
needed to pay all required monthly housing costs (mortgage payments,
property taxes, heat and 50% of condo fees).
Total Debt Service (TDS): The percentage of the borrower's income that is
needed to cover housing costs (GDS) plus any other monthly obligations that
an individual has, such as credit card payments and car payments.
The acceptable ratios for both have generally been 32% and 40% respectively.
For people with very high credit scores, GDS requirements are often waived
and the TDS maximum is slightly higher (44% as of January 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
Thursday, June 21, 2012
GTA REALTORSR Report Mid-Month Resale Housing Market Figures
Below is the mid month report from the Toronto Real Estate board regarding
sales in the GTA
Summary
* Sales activity is flat compared to June of last year
* Sales price was up over 8% from last year
This is the entire report below
GTA REALTORS(r) Report Mid-Month Resale Housing Market Figures
TORONTO, June 18, 2012 - Greater Toronto REALTORS(r) reported 4,597 sales
through the first 14 days of June - a result that was on par with the strong
sales activity reported in the June 2011 mid-month release. While sales were
flat on a year-over-year basis, the total number of new listings entered
into the TorontoMLS system was up by 16 per cent to 8,382.
"Sales growth continued to be much stronger outside of the City of Toronto
in the first half of June. While higher average home prices and slower
listings growth in the City of Toronto likely explain some of the disparity
in sales growth, recent polling suggests that the City of Toronto's Land
Transfer Tax is having a substantial impact on where many households are
looking to buy," said Toronto Real Estate Board President Richard Silver.
"Recent polling indicated that three-quarters of people in Toronto and
surrounding 905 regions who are planning to move over the next two years
said that they are more likely to move outside of Toronto specifically
because of the added upfront costs associated with the Toronto Land Transfer
Tax," continued Silver.
The average selling price for transactions during the first two weeks of
June was $516,834 - up by over eight per cent compared to the average of
$477,025 reported for the first two weeks of June 2011.
"The annual rate of price growth remains very high in the GTA. Increased
listings will result in more balanced market conditions over the next year,
but it will take some time before price growth will moderate to a more
sustainable pace. Right now, months of inventory remains very low from a
historic perspective and will likely not climb back to the pre-recession
norm until 2013," 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
sales in the GTA
Summary
* Sales activity is flat compared to June of last year
* Sales price was up over 8% from last year
This is the entire report below
GTA REALTORS(r) Report Mid-Month Resale Housing Market Figures
TORONTO, June 18, 2012 - Greater Toronto REALTORS(r) reported 4,597 sales
through the first 14 days of June - a result that was on par with the strong
sales activity reported in the June 2011 mid-month release. While sales were
flat on a year-over-year basis, the total number of new listings entered
into the TorontoMLS system was up by 16 per cent to 8,382.
"Sales growth continued to be much stronger outside of the City of Toronto
in the first half of June. While higher average home prices and slower
listings growth in the City of Toronto likely explain some of the disparity
in sales growth, recent polling suggests that the City of Toronto's Land
Transfer Tax is having a substantial impact on where many households are
looking to buy," said Toronto Real Estate Board President Richard Silver.
"Recent polling indicated that three-quarters of people in Toronto and
surrounding 905 regions who are planning to move over the next two years
said that they are more likely to move outside of Toronto specifically
because of the added upfront costs associated with the Toronto Land Transfer
Tax," continued Silver.
The average selling price for transactions during the first two weeks of
June was $516,834 - up by over eight per cent compared to the average of
$477,025 reported for the first two weeks of June 2011.
"The annual rate of price growth remains very high in the GTA. Increased
listings will result in more balanced market conditions over the next year,
but it will take some time before price growth will moderate to a more
sustainable pace. Right now, months of inventory remains very low from a
historic perspective and will likely not climb back to the pre-recession
norm until 2013," 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
Monday, June 11, 2012
Current mortgage interest rates in the GTA!
Current mortgage interest rates are excellent in the GTA!
See the rates below for samples of what is posted and what you can obtain,
not much better time than now to get a mortgage!
Mark
Best Rates
Terms Posted Rates Our Rates
6 MONTHS 4.45% 4.40%
1 YEAR 3.20% 2.75%
2 YEARS 3.55% 3.09%
3 YEARS 3.95% 3.19%
4 YEARS 4.64% 3.19%
5 YEARS 5.34% 3.14%
7 YEARS 6.35% 3.99%
10 YEARS 6.75% 3.99%
Rates are subject to change without notice. OAC E&OE
CURRENT PRIME RATE IS 3.00%
PRODUCT RATE
Variable Rate Mortgage: 2.90%
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
See the rates below for samples of what is posted and what you can obtain,
not much better time than now to get a mortgage!
Mark
Best Rates
Terms Posted Rates Our Rates
6 MONTHS 4.45% 4.40%
1 YEAR 3.20% 2.75%
2 YEARS 3.55% 3.09%
3 YEARS 3.95% 3.19%
4 YEARS 4.64% 3.19%
5 YEARS 5.34% 3.14%
7 YEARS 6.35% 3.99%
10 YEARS 6.75% 3.99%
Rates are subject to change without notice. OAC E&OE
CURRENT PRIME RATE IS 3.00%
PRODUCT RATE
Variable Rate Mortgage: 2.90%
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
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