Mississauga Real Estate Blog by Mark Argentino

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November 2006 Mississauga Real Estate Market, Prices UP and
2006-12-02 16:46:02
TORONTO - Friday, November 3, 2006 --The Toronto Residential market put in another solid performance in October, with 6,876 homes changing hands through the TMLS system, TREB President Dorothy Mason announced today. "This is up about four per cent over September's 6,622 figure. And, though it has moderated slightly from October of 2005, we are still looking at an annual total of well over 80,000 homes transacted. This is a very healthy, active market." Prices continued their upward trend in October, rising two per cent over September to $356,423. They were also up four per cent over the $342,450 recorded in October of 2005. This was the news release that was issued by the Toronto Real Estate Board. See the average prices graph and read more here For more information please contact A. Mark Argentino A. Mark Argentino Associate Broker, P.Eng.,Specializing in Residential & Investment Real Estate RE/MAX Realty Specialists Inc.2691 Credit Valley Road, Suite 101, Mississauga, Onta...
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BMO suggests that Students need a credit card and should cho
2006-12-02 16:46:02
Back to School: Choose your first credit card wisely (NC)?If you're one of the many Canadians attending college or university this fall, be prepared to face a lot of choices throughout your academic year, one of which is likely to be selecting your first credit card. It may seem daunting at first, but the trick is to keep it simple. "It's just a matter of understanding your own needs and finding the card that comes closest to meeting them," says Mike Kitchen, vice president, BMO Bank of Montreal Mosaik MasterCard . "Consider what you will be using your card for, how you plan on managing your finances and if you want to earn rewards for things such as travel, merchandise or entertainment." According to a recent BMO Mosaik MasterCard Student Survey, 72 per cent of post-secondary students with a credit card will carry a balance, so for many of these cardholders, a low interest rate credit card will minimize their monthly costs. Students should be sure to identify cards that ha...
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Reverse Mortgage - Is it right for you?
2006-12-02 16:46:02
What is a Reverse Mortgage ? First, what a reverse mortgage is NOT: A reverse mortgage is not ?a way for the bank to get your house? It is not a traditional home equity loan It is not based on income or credit levels It is not available to homeowners under the age of 62 It is not free money It is not a cure-all It is not a decision to be taken lightly What a reverse mortgage is: a good tool for financial planning and flexibility in the golden years. There are only a very few requirements for eligibility. The borrower must own and live in the home as a primary residence and be 62 years of age or older. If husband and wife are both on the title, both must be over the age of 62. However, visit the Reverse Mortgage Page to find out more information on this particular fact. In addition, the home itself must be of a type that qualifies for the reverse mortgage program. The vast majority of single family homes qualify, as do most condominiums, townhomes, 2-4 unit owner-occupied ...
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No doubt the 2006 Real Estate Market has cooled compared to
2006-12-02 16:46:02
Real Estate Market has become Steady There are concrete signs that the U.S. housing market is falling back to earth and there is widespread recognition that this will severely dampen the performance of the U.S. economy. This has led to concerns that Canada might have a similar experience. There is no disputing that Canadian housing markets have been booming in recent years with extremely high levels of starts, sales and price gains in many markets. This has periodically fuelled concerns that a housing bubble might have formed. However, TD Economics has consistently argued that Canada?s real estate markets have generally lacked the degree of speculation that dominated past boom-bust cycles and the excesses have been far less than those evident than in the United States. We still hold that overall view, but developments in a few Western cities are clearly flashing warning lights. There is no question that the recent dramatic price gains in Calgary and Vancouver are unsustainabl...
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TREB (Toronto Real Estate Board) reports August 2006 was a S
2006-12-02 16:46:02
August Shows Strong, Stable Results TORONTO - Wednesday, September 6, 2006 -- TREB President Dorothy Mason announced today that the Toronto resale homeowners continued its run of healthy showings in August, with 6,976 homes changing hands through the TorontoMLS system. "Last month was the second best August ever recorded, off moderately from the record 7,498 figure achieved in 2005. In addition, the year as a whole has seen 59,488 single-family dwelling sales, up marginally from 2005's January to August performance. As people return from their summer holidays, we are looking forward to an even more active autumn market." Prices remain stable in August, with the Average coming in at $338,192, less than one per cent lower than the July figure of $342,034. This figure is up five per cent over the $323,255 recorded during August of 2005. Breaking down the total, 2,627 sales were reported in TREB's 28 West districts and averaged $321,415; 1,181 sales were reported in the 14 Centra...
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Bank of Canada stays steady on Bank Rate at 4.5% - September
2006-12-02 16:46:02
Most recent interest rate announcement by the Bank of Cana da September 6, 2006 OTTAWA - (CP) - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/4 per cent. The operating band for the overnight rate will therefore remain unchanged at 4 1/2 per cent. The Bank of Canada sites continued strength in the global economy. In Canada, the economy continues to fall in line with the Banks expectations in terms of output and inflation. Going forward, the Bank continues to expect the Canadian economy to operate at about its production potential. The Bank of Canada's next scheduled date for announcing the overnight rate target is 17 October 2006. For more information please contact A. Mark Argentino A. Mark Argentino Associate Broker, P.Eng.,Specializing in Residential & Investment Real EstateRE/MAX Realty Specialists Inc.2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1 BUS 905-828-3434FAX 905-828-2829E-MAIL mark@mississauga...
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S&P rates Mississauga "AAA" for the third straight year!
2006-12-02 16:46:02
Mississauga gets 'AAA' for effortMISSISSAUGA BUSINESS TIMESAug 24, 2006Standard & Poor's Ratings Services assigned its 'AAA' credit rating on the City of Mississauga for the third straight year, based on the City's exceptional liquidity levels, debt-free position, and strategically located economy.According to S&P, "Mississauga's debt-free tradition continued into 2005; placing the City ahead of its domestic and international peers with respect to debt burden. This was largely made possible through the City's large cash and investment holdings, allowing it to finance its capital programs on a pay-as-you-go basis." "This rating further enhances the City's profile in the financial sector," said City manager Janice Baker. "We have been successful at keeping tax increases to a minimum for many years and we are fortunate to be debt-free."Outside the U.S., Mississauga is only the 9th municipality to earn the coveted 'AAA' rating. The stable outlook reflects the continuation...
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Mississauga City Centre Skyline and Central Core Area Develo
2006-12-02 16:46:02
This may be the future of Miss issauga - The future for the downtown core looks bright.Mississauga Business Times Where is our city's skyline? We might see a Mississauga core with real identity says U of T professor"You're never going to see an office tower in the city centre, unless Mississauga decides they will build parking in conjunction with the developers."Where is the Mississauga skyline?Having surpassed the 700,000 mark in population, Canada's sixth-largest city still lacks the downtown commercial skyscrapers traditionally equated with the world's great cities. While there are plenty of condos going up, the city centre hasn't seen a new high-rise office building in more than 20 years."There's a real easy reason for that," says Jim Wilson, vice-president of Cushman Wakefield & LePage's Mississauga office. "That's because we've got land, and it costs more to go up than it does to go out."Ray Wong, senior analyst with CB Richard Ellis agrees that, "in Mississauga, the l...
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Housing Starts were strong in July in the Toronto housing ma
2006-12-02 16:46:02
The Toronto housing market experienced stron housing starts in July 2006 July home construction in the Toronto Census Metropolitan Area (CMA) remained strong, but continued on a downward trend. The seasonally-adjusted annual rate of starts was 41,600 - down slightly from 43,800 in June. For the first seven months of 2006, on an unadjusted basis, new home starts declined by over 13 per cent compared to the same period last year. Over the past two years, the resale home market has become more balanced, meaning home buyers have benefited from more choice. Increased resale home listings coupled with high home prices have resulted in fewer pre-construction HOUSING STARTS STRONG IN JULY Sales of low-rise homes and lower housing starts. Condominium apartment starts, at 1,261 in July, remained strong, though not as exceptional as in July of last year when condominium apartment starts spiked to 3,387. Despite the decline, year-to-date building activity points to a second consecutive ...
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Toronto is the most active condo market in North America 2nd
2006-12-02 16:46:02
Toronto most active condo market in North America Toronto was the most active, and probably the largest condominium market in North America in the second quarter of 2006, according to a report published by Urbanation, an independent analysis company that has been doing in-depth studies of the Toronto condo market since 1981. The Urbanation report says the new condominium market now represents 39 per cent of total new home sales in the Toronto CMA. The Urbanation report says there were 255 new condominium projects representing more than 53,000 units in the Toronto CMA in the second quarter of this year. However more than 77 per cent of the units were already sold and more than 28,000 were under construction in the quarter. In the first six months of 2006, more than 8,300 buyers visited sales centres throughout the city and found what they were looking for -- the right product, for the right price, in the right location. This is similar to the sales performance in...
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What is an Accredited Buyer Representative?
2006-12-02 16:46:02
What is a Buyer Representative? A real estate buyer's representative represents the buyer who is purchasing property in a real estate transaction. Research by the National Association of REALTORS has shown that when a buyer's representative is used, the prospective buyer found a home one week faster and examined three more properties than consumers who did not use a buyer's representative. The buyer's representative works for, and owes fiduciary responsibilities to, the real estate buyer and has buyer's best interests in mind throughout the entire real estate process. A buyer's representative will: - Evaluate the specific needs and wants of the buyer and locate properties that fit those specifications. - Assist the buyer in determining the amount that they can afford (pre-qualify), and show properties in that price range and locale. - Assist in viewing properties -- accompany the buyer on the showings, or preview the properties on behalf of the buyer to insure ...
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How to Create the Ultimate Home Theater in Canada
2006-12-02 16:46:02
Creating the ultimate home theatre(NC)-A growing number of Canadians are installing home theatre systems in their homes, however homeowners aren't always satisfied with the results. Some Canadians find themselves being bothered by unwanted noise while trying to enjoy their new home theatre. "When creating a home theatre, homeowners need to consider more than the TV and speakers," says Mark LeBlanc, Insulation Expert, Owens Corning Canada . "To properly enjoy a home theatre, the room should be designed to control noise coming from other areas of the house. This can be achieved by installing acoustic wall systems." In order to properly control noise in the home, it is important to understand the four essential principles of noise control: block, break, absorb and isolate. Block - Drywall is the first line of defense against noise. It will help to block out unwanted sounds, and is particularly effective in blocking lower frequency, bass sounds. Break - Flexible fasteners, such as ...
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Bank of Canada Rates - "mid-cycle" slowdown and Dow Jones hi
2006-12-02 16:46:02
HIGHLIGHTS The BoC leaves rates unchanged at 4.25% Small cut in policy rates still in the cards for 2007 despite rising core prices Further evidence of U.S. mid-cycle slowdown Dow Jones hits the 12,000 mark Big week for Cana dian monetary policy There were a lot of new developments surrounding Canadian monetary policy this week. First, the Bank of Canada announced on Tuesday that it was maintaining the overnight rate at 4.25%. Since this decision was widely expected, it is the accompanying statement that caught financial markets? attention. Notably, the Bank revised down its real GDP growth forecasts for the remainder of 2006 and 2007. Everything else being equal, weaker economic growth would translate into less accumulation of slack in the economy, thereby increasing market expectations for eventual rate cuts. But, the Bank has also lowered its estimate of potential output growth ? i.e. the growth in production the Canadian economy can achieve with existing labour, capit...
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TD - Canada Trust - Ramifications of the US housing market d
2006-12-02 16:46:02
THE DECLINE AND FALL OF THE U.S. HOUSING MARKET: WILL THE BROADER ECONOMY FOLLOW? October 2, 2006 The U.S. housing sector directly contributed more than $2 trillion to the national economy in 2005 and accounted for one-quarter of real GDP growth. Don?t expect a repeat performance any time soon. Data over the past five months show that the housing market is in the midst of a correction. The supply of detached resale homes has hit a 13-year high, affordability has eroded to late-1980s levels, and all three major housing markets ? new, existing and construction ? have absorbed double-digit declines in activity relative to last year. The question is not whether the housing market correction will dampen U.S. economic growth over the next year. It will. The cliffhanger is whether it can single-handedly tip the economy into a recession. Indeed, the current housing cycle is already mirroring trends leading into past recession cycles. So why would it be different this time? To evalua...
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Energy Efficient Homes are Important to Home Buyers
2006-12-02 16:46:02
As costs rise, energy efficiency high on checklist of home buyerJANE GADD of the Globe and Mail The message of energy efficiency has got through to 90 per cent of home buyers in the Toronto and Ottawa areas, according to a survey released this week. EnerQuality Corp., which oversees the federal Energy Star for New Home s program in Ontario, says an independent survey found that 9 out of 10 people buying single-family homes in those markets this year were looking for increased energy efficiency. Their motivation was mostly financial -- more than six out of 10 gave energy bills as the main reason. Being environmentally friendly was rated second -- 15 per cent said that that was their goal. The rest mentioned greater comfort or better resale value. "I am not surprised to see that saving money is the No. 1 reason behind the growing demand for energy-efficient housing," said Corey McBurney, who heads EnerQuality in Ontario. "Builders have been telling us for some time that home buye...
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Retirement options when you have real estate owernship
2006-12-02 16:46:02
Home ownership leads to lifestyle optionsFor many retirees, that paid-off family residence can open doors for life after work, writes TERRENCE BELFORDTERRENCE BELFORD Special to The Globe and Mail September 2006A year from this December, Joan Kilgour, 76, gets to leave her daughter's Mississauga home and again have a place of her own. This time, however, it will be a 750-square-foot, one-bedroom (plus den) condominium in Hearthstone by the Bay, a new mature-adults-only building on Toronto's western waterfront.She says she can't wait to be on her own again.Jean Stechyshyn, 84, found what she thinks is the perfect home a year ago. She bought a large one-bedroom condominium at the Village by the Arboretum, just south of the University of Guelph.Like Mrs. Kilgour, Mrs. Stechyshyn has made what is known as an "age-in-place condominium" her choice of home. Hearthstone and the Village by the Arboretum are the first wave of a new form of real estate that not only provides home ownershi...
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RBC Royal Bank Report: "Economny Shifts Gears" September 200
2006-12-02 16:46:02
RBC Royal Bank "Leading indicator points to positive, but slower, growth ahead" Latest month available: August 2006 Release date: September 20, 2006 Fixed income and currency market reactionThe leading economic indicator rose by 0.2% in August. July's increase was revised up to show a 0.3% increase, (previously reported as 0.2%). ImplicationsThe rise in the leading indicator confirms that economy continued to exhibit decent momentum in the third quarter with seven of the 10 components recording increases in August. The biggest decline occurred in the housing index, which fell 2.5% as a result of a decline in housing starts and a levelling off of house sales. The slowing in housing market activity restrained growth in furniture and appliance sales to 0.5%, their slowest increase this year. Manufacturing new orders rose 0.1%, while the ratio of shipments-to-inventories remained relatively flat. Money supply growth increased while the U.S. Conference Board leading indicator fell...
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Rising rates cool hot housing market across most of the coun
2006-12-02 16:46:02
Rising rates cool hot housing marketSHIRLEY WON of the Globe and Mail Canada's buoyant housing market continued to cool off last month as sales fell 6.4 per cent in the wake of rising home prices and higher mortgage rates. It was the third consecutive month of year-over-year sales declines, although the average home price surged 11.6 per cent to $292,989, according to a report released yesterday by the Canadian Real Estate Association (CREA). "We have seen some cooling in Central and Atlantic Canada, but the housing market out West has been delivering extremely strong, and quite dramatic, price gains," said Toronto-Dominion Bank economist Craig Alexander. "Calgary home prices were up 50 per cent in August, and that is unbelievable." Seasonally adjusted, home sales in Canada's major markets fell to 27,657 units in August, as new listings rose 2.8 per cent to 47,117. "The average price growth will slow down" as new listings increase, even in the stronger markets, and home sales...
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US Housing Market may have overheated
2006-12-02 16:46:02
U.S. housing market overheatingROMA LUCIWGlobe and Mail UpdateMost of the U.S. housing market is now showing signs of overheating, with more than two-thirds of the country's biggest cities experiencing steamy, if not outright frothy conditions, according to Merrill Lynch & Co.In a June, 2005, report titled Mega Metro Bubbles, Merrill said half of the 52 major urban centres in the U.S. were showing signs of overheating. More than a year later, conditions have deteriorated further and that number has jumped to 70 per cent.Evidence of a slowdown is piling up. Sales of existing homes dropped 11 per cent from a year ago in July, while new home sales have tumbled 20 per cent. At the same time, inventory levels of new and existing unsold homes have grown by almost 40 per cent.''This suggests that several regional markets could experience material price corrections,? said the updated report.The team of economists said Monday it expects home price increases will slow to 5 per cent in 2006...
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Mississauga MLS Districts W12 - W20 average prices for Detac
2006-12-02 16:46:02
Miss issauga District average prices for Detached, semi detached, condo townhouses and condominium high-rises in graphical form The image/chart below shows the average prices in each district of Mississauga during the last period The prices shown in the image below will give you an idea of average prices in each district in Mississauga as provided by the Mississauga Real Estate Board using data from TREB (Toronto Real Estate Board) The latest month is shown on the image. Click the image to see large scale image. To see specific boundary locations for each district on the map, you may find the TREB maps here For more information please contact A. Mark Argentino A. Mark Argentino Associate Broker, P.Eng.,Specializing in Residential & Investment Real EstateRE/MAX Realty Specialists Inc.2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1 BUS 905-828-3434FAX 905-828-2829E-MAIL mark@mississauga4sale.com Website: Mississauga4Sale.com It was here: http://mississauga...
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