Donna Harper : Latest Blog Posts

Eliminating the home selling (and buying) jitters

Thu, 10 May 2012 23:48:00 GMT

Selling your property and buying a new home can be a potentially intimidating experience... so much so that these jitters may even prevent some people from making a move!

It doesn't have to be that way.

A big part of the stress of selling and buying comes from not understanding the process or having unanswered questions. You might worry about how the state of the market will affect the value of your purchase over the long term or what you would do if you found your dream home before receiving any offers on your current property.

That's where a good REALTOR® comes in. He or she can explain the process to you, answer all your questions, and show you how to make your move go smoothly.

Looking for a good REALTOR®? Call today.

Do You Know the Basics of Home Security?

Tue, 08 May 2012 23:49:00 GMT

Most people feel confident about the basics of home security. For example: Keep all doors locked. Have a light on in the house while away. Never hide a key outside in an obvious place, like under the mat.

Yet, almost a million and a half properties get burglarized in North America each year. So how can you prevent that from happening to your home? Here are a few less known home security basics:
Actually, never hide a key outside. Thieves know all the hiding places. Instead, make sure all family members have a key.
Two-thirds of home burglaries occur during the day. So be extra vigilant about making sure doors and windows are locked while you're away during the day.
Surprisingly, most thieves are not daring. They are 2.7 times more likely to target a home without an alarm system.
Thieves will attempt to force entry through sliding-style doors and windows first. So make sure these have a locking bar or extra bolt lock.
Surprising, 40% of household burglaries do not involve forced entry. The thief is able to slip in through an unlocked window or door.
Don't show off possessions! An imported racing bike parked next to the garage, or expensive audio equipment clearly seen through a window, is an invitation to burglars.
Take a look at the lighting and landscaping around your property. Are there spots where a thief could easily hide? If so, make some changes.
When planning a trip, have a trusted neighbour pick up newspapers, flyers and anything else that may accumulate at your door.

Your local police department may have more tips and special programs for keeping your home secure. Give them a call.

Fraser Valley housing market remains steady; while selection continues to improve

Mon, 07 May 2012 23:41:00 GMT

May, 02 2012 11:15:51 am, by FVREB

There were 1,435 property sales processed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) in April, reflecting a 5 per cent decrease compared to the 1,516 sales in April of last year, and a slight increase over the 1,412 sales in March.

In April, the Board added 7 per cent more new listings compared to one year ago, 3,134 in contrast to 2,918 in April 2011, pushing the number of properties for sale in the Fraser Valley to 10,312, the highest level since July 2010.

Scott Olson, President of the Board, says “To put it in perspective, in the last decade, April 2012 ranked second lowest for sales during that month, while new listings came in at the third highest, meaning it’s a good time to be shopping for a home in the Fraser Valley because selection has only been this extensive twice.

“When you combine modest sales with normal, seasonal increases in listings it helps keep house prices in check, which is what we’re seeing. Benchmark prices for all property types remain essentially unchanged from March and for townhomes and apartments, they’re on par with what they were one year ago.”

The benchmark price or value of a ‘typical’ Fraser Valley detached home as determined by the MLS® Home Price Index (MLS®HPI), increased 5.3 per cent in one year. It went from $547,800 in April 2011 to $576,600 last month.

In April, the MLS®HPI benchmark price of a Fraser Valley townhouse was $318,400, an increase of 1.9 per cent compared to $312,600 in 2011. The benchmark price of an apartment increased by 0.8 per cent year-over-year; going from $204,100 in April of last year to $205,800 in April 2012.

Olson adds, “There are a lot of different dynamics to our market right now – all depending on location, property type and price point. For example, some areas are seeing increases in sales and decreases in prices; while others are experiencing the reverse, so if you are thinking of buying or selling ask your REALTOR® to show you how your property type is fairing in the market overall and more importantly in your community.

“In particular, ask about the ratio of sales compared to the number of active listings for your home type. This is one tool we use to help our clients understand if the market for their home is tilted in favour of buyers or sellers or is in balance. Currently, Fraser Valley’s overall market is balanced leaning towards buyers, however each sub-market is different.”

Source: http://www.fvreb.bc.ca/blog/index.php/2012/05/02/fraser-valley-housing-market-remains-steady-while-selection-continues-to-improve

Greater Vancouver housing market maintains a steady spring pace

Mon, 07 May 2012 23:40:00 GMT

Wednesday, May 2, 2012

VANCOUVER, BC - Home sale and listing activity has maintained a consistent pace on the Multiple Listing Service® (MLS®) in Greater Vancouver in recent months, which has helped create balanced conditions for the region’s housing market.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,799 on the Multiple Listing Service® (MLS®) in April 2012. This represents a 13.2 per cent decline compared to the 3,225 sales recorded in April 2011 and a decline of 2.6 per cent compared to the 2,874 sales in March 2012.

April sales were the lowest total for the month in the region since 2001 and 16.9 per cent below the 10-year April sales average of 3,369.

“Although April sales were below what’s typical for the month, we continue to see, with a sales-to-active listing ratio of nearly 17 per cent, a balanced relationship between buyer demand and seller supply in our marketplace,” Eugen Klein, REBGV president said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 6,056 in April 2012. This represents a 3.6 per cent increase compared to both March 2012 when 5,843 homes were listed and April 2011 when 5,847 homes were listed for sale on the region’s MLS®.

Last month’s new listing total was 6.7 per cent above the 10-year average for listings in Greater Vancouver for April.

At 16,538, the total number of homes listed for sale on the region’s MLS® increased 8.5 per cent in April compared to last month and increased 16 per cent from this time last year.

“Recent activity has had a stabilizing effect on home prices at the regional level, although pricing can vary depending on area and property type,” Klein said “To best understand conditions within your area of interest, it’s important to do your homework and consult a local REALTOR®.”

The MLS® HPI benchmark price for all residential properties in Greater Vancouver currently sits at $683,800, up 3.7 per cent compared to April 2011 and an increase of 2.8 per cent over the last three months. The benchmark price for all residential properties in the Lower Mainland is $612,000, which is a 3.4 per cent increase compared to April 2011 and a 2.6 per cent increase compared to three months ago.

Sales of detached properties on the MLS® in April 2012 reached 1,126, a decline of 19.7 per cent from the 1,402 detached sales recorded in April 2011, and a 17.8 per cent decrease from the 1,370 units sold in April 2010. The benchmark price for detached properties increased 6.3 per cent from April 2011 to $1,064,800.

Sales of apartment properties reached 1,190 in April 2012, a decline of 0.9 per cent compared to the 1,201 sales in April 2011, and a decrease of 22 per cent compared to the 1,526 sales in April 2010.The benchmark price of an apartment property increased 1.1 per cent from April 2011 to $375,900.

Townhome property sales in April 2012 totalled 483, a decline of 22.3 per cent compared to the 622 sales in April 2011, and a 21.6 per cent decrease from the 616 townhome properties sold in April 2010. The benchmark price of a townhome unit increased 1.7 per cent between April 2011 and 2012 to $487,300.

The Real Estate Board of Greater Vancouver is an association representing more than 11,000 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®. For more information on real estate, statistics and buying or selling a home, contact a local REALTOR® or visit www.rebgv.org.

Source: http://www.rebgv.org/news-statistics/greater-vancouver-housing-market-maintains-steady-spring-pace

When is the best time to sell your home?

Thu, 12 Apr 2012 20:37:00 GMT

If you've been thinking about selling your home, you might be waiting until
the "market is right". After all, if the local market suddenly booms, your
property will likely sell for a higher price.

That may be true. However, there are other factors to consider in your
decision to list.

For example, will you be buying a new home as well? If so, then the higher
selling price will probably be offset by the higher cost of the new property.
In addition, there may be characteristics of your home that will help sell it
quickly and for a good price – today – regardless of the market conditions.

A good REALTOR® will help you make the right decision. Call me today.

How to decide if you should replace your windows

Sat, 07 Apr 2012 22:33:00 GMT

One of the most prominent features of any home is the windows. When they
are well maintained they have a positive impact on the impression people
(such as potential buyers) will have of your property. The opposite occurs,
of course, when your windows look old and worn.

So does that mean you should replace your windows?

That depends on a number of factors. Window replacement can be an
expensive renovation. Here are a few things to consider before making your
decision.

• Do your windows get frost or condensation build-up on the interior
side? This could be a sign that the windows are not keeping out the
cold as well as they should.

• Do you see water infiltration or mildew on the interior sides of any of
the window sills? This means that moisture is creeping in from the
outside, and you need to get those windows repaired or replaced as
soon as possible.

• If your windows are double-paned – (two panes of glass) – check for
any signs of moisture in between the glass panes. Moisture indicates
that the thermal seal is broken and at a minimum, the glass will need
to be replaced.

• Take a look at your windows from the outside. Is the trim rotted or
cracked anywhere? Are there dark spots or any signs of rotting on
the wood frames? Repairs or replacement may be required.

• Check the operation of your windows. Do they open and close
easily? This is important because some windows, such as those in
bedrooms, are often designed to be big enough to use as an exit in
case of a fire.

• Finally, are you happy with how your windows look? Do you feel that
your property will look significantly better with new windows?

Although they are expensive, replacing windows hasa lot of advantages.
Depending on the efficiency of your current windows, replacing them could
cut your energy costs by 10-20%. In addition, new windows block out more
exterior noise, making your home quieter.

Want more tips on increasing the value, and enjoyment, of your property?

Call me today.

Greater Vancouver housing market trends near long-term averages as spring market approaches

Sat, 17 Mar 2012 00:53:00 GMT

Friday, March 2, 2012

VANCOUVER, BC – Closer alignment between home buyer and seller activity helped bring greater balance to the Greater Vancouver housing market in February.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 2,545 on the MLS® system in February 2012. This represents a 61.4 per cent increase compared to the 1,577 sales recorded in January 2012, a decline of 17.8 per cent compared to the 3,097 sales in February 2011 and a 2.9 per cent increase from the 2,473 home sales in February 2010.

February sales in Greater Vancouver were the third lowest February total in the region since 2002, though only 151 sales below the 10-year average.

“With a sales-to-active-listings ratio of over 18 per cent, we see fairly balanced conditions in our marketplace as we move into the traditionally busier spring season,” Rosario Setticasi, REBGV president said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,552 in February 2012. This represents a 2.5 per cent decline compared to February 2011 when 5,693 properties were listed, and a 3.5 per cent decline compared to January 2012 when 5,756 homes were added to the MLS® in Greater Vancouver.

Last month’s new listing count was the second highest February total in Greater Vancouver since 1996.

At 14,055, the total number of residential property listings on the MLS® increased 12 per cent in February compared to last month and increased 17.9 per cent from this time last year.

“Region-wide we’ve seen relative stability in home prices over the last six months, but it’s important to do your homework and consult your REALTOR® because pricing can vary considerably depending on the neighbourhood and property type,” Setticasi said.

The MLS® HPI benchmark price for all residential properties in Greater Vancouver currently sits at $670,900, up 6 per cent compared to February 2011 and an increase of 0.9 per cent compared to January 2012. The benchmark price for all residential properties in the Lower Mainland is $601,300, an increase of 5.5 per cent compared to February 2011.

Sales of detached properties on the MLS® in February 2012 reached 1,101, a decline of 21.5 per cent from the 1,402 detached sales recorded in February 2011, and a 12 per cent increase from the 983 units sold in February 2010. The benchmark price for detached properties increased 10.5 per cent from February 2011 to $1,042,900.

Sales of apartment properties reached 1,020 in February 2012, a decline of 15.4 per cent compared to the 1,206 sales in February 2011, and a decrease of 5 per cent compared to the 1,074 sales in February 2010. The benchmark price of an apartment property increased 2.8 per cent from February 2011 to $373,300.

Townhome property sales in February 2012 totalled 424, a decline of 13.3 per cent compared to the 489 sales in February 2011, and a 1.9 per cent increase from the 416 townhome properties sold in February 2010. The benchmark price of a townhome unit increased 0.7 per cent between February 2011 and 2012 to $472,800.

Source: http://www.rebgv.org/news-statistics/greater-vancouver-housing-market-trends-near-long-term-averages-spring-market

Typical ‘pre-spring’ surge in home sales & new listings keeps market steady

Sat, 17 Mar 2012 00:47:00 GMT

March, 02 2012 03:10:32 pm, by FVREB

The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) recorded 1,269 sales in February, an increase of 59 per cent compared to January and a 1 per cent decrease compared to the 1,279 sales during February of last year.

In terms of new listings, the Board received 2,846 in February, an increase of 3 per cent compared to January and a 6 per cent decrease compared to the 3,038 listings received last February, taking the total number of active listings to 9,037, an increase of 4 per cent compared to those available in February 2011.

As Board President Scott Olson explains, a seasonal increase in sales is typical for February; however this increase was not as robust as in years past. February’s sales finished at 4 per cent fewer than the 10-year average for that month.

“Although our market has picked up, it’s still favouring buyers. In terms of our clients, we’re seeing more caution and deliberation when house hunting.

“This could mean using a home inspection as part of negotiations, or asking for extras to be thrown in, or the client walking away if terms are not met. The other side is that selection at certain price points is limited depending on location, so if the buyer finds the right home, they act, which is keeping prices stable.”

The MLS® HPI benchmark price of a ‘typical’ detached home in Fraser Valley in February was, $569,200, an increase of 8.3 per cent compared to $525,400 last year. The benchmark price of Fraser Valley townhouses increased by 2.0 per cent in one year, going from $305,700 in February 2011 to $311,900 in February 2012, while the benchmark price of apartments increased by 0.6 per cent going from $200,200 in February of last year to $201,500 in February 2012.

Olson adds, “We anticipate the new HST transition rules will generate more buying activity of new homes over the coming months and will have a spill-over effect on the resale market. The majority of new homes in the Fraser Valley fall under the new $850,000 HST rebate threshold and first-time buyers will be taking advantage of the refundable tax credit bonus of up to $10,000 available until March 31, 2013.

“These changes will improve accessibility in the Fraser Valley, a region already recognized for its affordability.”

Source: http://www.fvreb.bc.ca/blog/index.php/2012/03/02/typical-pre-spring-surge-in-home-sales-aamp-new-listings-keeps-market-steady

"Most Canadians don't bother shopping & just sign their renewal offer…that’s a shame because..."

Fri, 16 Mar 2012 21:59:00 GMT

Mortgage Broker, Mark Fidgett, shares some wisdom with us on his site:

"There is a perception that it’s difficult to switch banks, plus it costs you money to switch.

WRONG!

Question is, do you want to pay the banks more than you have to?

DON’T BE AFRAID TO LEAVE YOUR BANK"

Find out more here: http://bit.ly/lpEdVv

Polygon's Red Maple Releases More Homes For Sale Saturday at Noon!

Fri, 16 Mar 2012 03:01:00 GMT

Find out more at their site:

http://www.polyhomes.com/community/red-maple-park

Priced from $299,900

Overview

Centre yourself at Red Maple Park. Rooted in Langley's Willoughby neighbourhood, this vibrant community offers everything you need from nearby retail shopping, restaurants and cafés to recreation centres and local schools. Red Maple Park – the perfect place to let your dreams unfold and your family grow.

This collection of two and three bedroom townhomes ranging to over 1,500-square-feet features warm Arts-and-Crafts-style architecture. Contemporary interior design boasts open-plan layouts, gourmet kitchens with granite countertops, warm laminate flooring, and sleek stainless steel appliances.

Residents of Red Maple Park can come together in the true centre of the community at The Maples Club; an impressive 8,400-square-foot resort-style amenity building. This spectacular clubhouse features an outdoor terrace with a pool & whirlpool, kitchen, fitness studio, theatre room, indoor playground, great room with fireplace and much more. Also, nestled just beside the clubhouse is The Maples Park - an expansive outdoor park and playground with a collection of exciting play structures for children!

Features

Warm Arts & Crafts architecture designed by award-winning Formwerks Architectural Inc.
Thoughtful exteriors feature custom wood brackets and detailing, arched doorways and low-pitch roofs with signature dormers.
All two- and three-bedroom homes feature wood laminate flooring throughout the main level.
Natural light fills homes through bay windows while decorative window shelves add character.
Entertain in the warmer months on generous decks or patios and enjoy outdoor living in your own private, fenced yard.
Enjoy the elegant, airy ambience of nine-foot ceilings on the main floor.
Distinctive granite countertops and full-height imported ceramic tile backsplash make a bold statement.
Retreat to the luxurious ensuite bathroom featuring a spacious walk-in shower with glass door, dual porcelain sinks, dual-flush toilet by American Standard, full-length vanity mirror, and elegant light bar.

Call me if you wish to go view. I love to help you purchase your dream home!

Contact me here: http://donnaharper.com/contact.html

Clarification on the First Time Home Buyers Bonus

Fri, 16 Mar 2012 01:03:00 GMT

Here is some clarification on the First Time Home Buyers' Bonus by Tony Spagnuolo of Spagnuolo & Company Real Estate Lawyers:

FIRST TIME HOME BUYER BONUS

March 16, 2012

"We are frequently asked how this bonus will work. Is it an offset against income tax, is it treated like an expense to reduce taxable income, what is going on ?

As we posted to Facebook and Twitter yesterday, Tony called the Ministry of Finance and was told this has nothing to do with a home buyer's income tax return. The home buyer, assuming he or she meets the criteria, applies for the bonus. If they are eligible, the government approves the application and sends a cheque to the applicant for the amount claimed.

Of course all the criteria must be met but if this is correct, it sounds like a great program for First Time Home Buyers, as it is basically free money. You don't even need to insert information on your income tax return.

Final details will be out soon, and we will keep you posted.

Once again, if you want to receive these updates quicker please like us on Facebook or follow us on Twitter.

Thank you"

Tony Spagnuolo

Spagnuolo & Company Real Estate Lawyers

#300-906 Roderick Avenue

Coquitlam, BC V3K 1R1

Direct Phone: 604-777-7406

Fax: 604-527-8976

Our Website: www.bcrealestatelawyers.com

Check out the New Development Project: ELEMENTS!

Tue, 13 Mar 2012 21:21:00 GMT

Elements is Langley's best new master planned community. Backing onto a natural green space and trail system, these homes have high end designer finishes, an unbeatable neighbourhood close to parks and every amenity at your doorstep.

2 bedroom, 2 bathroom homes start at just $249,900. Best of all you can move-in this Fall! It's no wonder these homes are selling so fast!

New $10,000 Government Bonus!

As a result of the recent announcements by the provincial government, we want you to be aware of great buying opportunities for first time home buyers in new home sales.

The new first time home buyer bonus is worth up to $10,000. With the new HST transition rules and increased rebate threshold, now is one of the best times to purchase a newly constructed home.

Limited Opportunities Remain to Move-in this Fall!

PLAN	SIZE	STYLE	PRICE (incl. net HST)	MONTHLY PAYMENT
A	446 SQ.FT	Junior 1 Bed / 1 Bath	$149,900	$617.20
J	689 SQ.FT	1 Bed / 1 Bath + Flex	$229,900	$946.59
K	840 SQ.FT	2 Bed / 2 Bath	$249,900	$1,028.95
L	1050 SQ.FT	2 Bed / 2 Bath	$299,900	$1,234.80

Change your clocks tonight :)

Sat, 10 Mar 2012 06:42:00 GMT

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Donna's Fraser Valley Market Update for March 2012
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Reminder: This weekend is Daylight Savings. We "Spring Ahead" an hour!

The Spring Market is in full swing!

How many listings sold last month: 1,269
How many properties came on the market: 2,846
Total number of properties currently for sale: 9,037

Year-to-Date % change from last year
Sales: Down by -2.1%
New Listings: Down by -1.3%

Source: Fraser Valley Real Estate Board

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This Month's Tips for Buyers and Sellers:
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Things to know to select a reputable renovator:

You will find the article here:

http://www.morrisontheweb.com/member/documents/tihs/Informed%20Home%20Buyer%20Mar%2012.pdf

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Here are my most recent Video Chats:
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Do You Have a Will If You're Co-signing For a Mortgage?

http://www.youtube.com/watch?v=vQCrxD36E3w

How to get a mortgage after you have been through a bankruptcy

http://www.youtube.com/watch?v=PANVnVeWqP0

How to get a zero down mortgage when self employed

http://www.youtube.com/watch?v=70WViy0n5OE

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This Month's Featured Properties:
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Handyman Specials, Cheaper Than Rent, Below Assessed Value and more!

Can be found on the Home Page of my website: http://donnaharper.com/

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Mortgage Broker Mark's Tip for this Month:
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Mortgage Penalty Disclosure

Finally! The Finance Department has announced a "code" for Financial Institutions to follow in regards to mortgage penalties and how they disclose them or explain them to you, the consumer.

Right now many banks have very vague and convoluted descriptions and explanation on how the calculate their penalties and leave you mostly in the dark and at their mercy. This is a big win for consumers as these same banks will have to shape up and start to:

“…provide more information on how prepayment charges are calculated.”

“…explain the differences between mortgage products, including ways to pay off a mortgage faster without incurring penalties.”

All federally regulated lenders must be compliant to this by November 5, 2012.

Lenders Must Now Disclose:

The method they use to calculate the exact prepayment charge in a way that is clear, simple and not misleading.
When the penalty formula is complex, find a simple way to estimate penalties.
A description of all the numbers used in the penalty formula.
Information on how to obtain each of those numbers.
An example to help consumers figure out their own prepayment penalty.

Lenders Must Now Provide:

A summary of the consumer’s available prepayment privileges.
The dollar value of available prepayment options.
Explanation of factors that could cause your penalty to change.
Specific information needed for the borrower to calculate their own penalty.
A list of all other fees for early prepayment.
Contact information for the lenders staff that know how the penalty is calculated.

The full release can be seen here.

If you would like more information on this or any type of mortgage financing, please don't hesitate to contact me.

Mark Delleman

DLC Canadian Mortgage Experts

mark@mortgagesthatdontsuck.com

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Automatic Home Search Service:
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You might be interested to know that there is an automated email service that searches daily new listings in our MLS and then emails you a list of homes that match your search criteria.

Custom design your own home search. It is free, straight forward and easy to use. You will find it at: http://donnaharper.com/vow.html

Sign in, set it up, and save it. The system will automatically email you as soon as new places hit the market.

They will always include the latest Hot New Listings, Distress Sales, Bank Foreclosures, Vacant Homes, and Estate Sales on the Market.

You can pick any home criteria you desire and set up multiple searches. You can login and re-tweak your criteria anytime.

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Attention Sellers: Listings Wanted!
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The Market is Active! Now is a Great Time to Sell!

Would you like any additional information on the home market in your area? Are you thinking about selling your home?

I would be honored to interview for the job of selling your home if you are. I do things a little differently than most.

Please give me a call or email me at your convenience.

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Easy Mobile Access to Listings:
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My site is smartphone friendly. Just type in my domain name: donnaharper.com

I hope that you find this info useful. If you have any questions on what I have mentioned please email or call anytime.

I look forward to hearing from you and thanks for taking the time to read my blog. :)

Happy House Hunting!

Do You Have a Will If You're Co-signing For a Mortgage?

Wed, 07 Mar 2012 20:34:00 GMT

This just in! Call me to view! Central to everything in Downtown Langley.

Sat, 03 Mar 2012 00:14:00 GMT

Ascot Yorkson

Fri, 02 Mar 2012 22:09:00 GMT

I previewed the new Ascot development today. It will be a lovely addition to what Langley has to offer. It is designed for the Buyer who wants to live in a lower density area as suites in the homes are not allowed. Their homes can offer a fully finished basment and they are currently offering prices that include the HST.

Definitely worth looking at if that community plan appeals to you.

Visit their site for more details: http://ascotliving.ca/

Call me if you would like to know more and go and preview them.

A $10,000 tax credit for first-time home buyers

Thu, 23 Feb 2012 02:20:00 GMT

Jamie Moi: "This is HUGE. Just announced, a $10,000 temporary, one-time refundable income tax credit for first-time home buyers who purchase a newly constructed home, effective today, February 21, 2012 through to March 31, 2013. Details are available here:"

http://www.bcbudget.gov.bc.ca/2012/homebuyers/2012_First_Time_Home_Buyers_Fact_Sheet.pdf

If you have questions about purchasing, you can contact Jamie Moi here:

http://jamiemoi.com/

How to get a mortgage after you have been through a bankruptcy!

Wed, 22 Feb 2012 01:22:00 GMT

How to get a zero down mortgage when self employed!

Wed, 22 Feb 2012 01:22:00 GMT

2012 kicks off with new home price measurement; and, a sluggish start to sales

Wed, 08 Feb 2012 23:55:00 GMT

February, 06 2012 02:04:52 pm, by FVREB

The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) processed 799 sales in January, a decrease of 4 per cent compared to the 834 sales in January last year and 10 per cent fewer than were processed in December. In the last decade, January 2012 was second only to 2009 for lowest volume.

On the flip side, compared to other starts during the last 10 years, the Board received one of its highest influxes of new listings for January – 2,753 – 5 per cent more than January 2011 and 143 per cent more than December the month before. The increase in new inventory raised the volume of active properties in Fraser Valley to 8,320 by the end of January.

Sukh Sidhu is the Board’s president. “For spring house hunters this is great news. For buying power you can’t beat the combination of greater selection, the continuation of extremely low interest rates and stable prices.”

The Board’s new MLS® Home Price Index (MLS® HPI), launched today, reveals that residential home prices in Fraser Valley have decreased gradually over the last six months, while still showing increases year-over-year.

In January, the benchmark price of a detached home in the Fraser Valley was $567,700, an increase of 7.6 per cent compared to $527,500 in January 2011 and an increase of 0.1 per cent compared to December.

For townhouses, the benchmark price in January was $314,200, an increase of 2.4 per cent compared to the same month last year when it was $306,800 and down 1.1 per cent compared to December. The benchmark price of apartments in January was $199,600, a decrease of 0.1 per cent compared to January 2011 when it was $199,800 and an increase of 0.3 per cent compared to December.

The MLS® Home Price Index (HPI), replacing the Lower Mainland’s MLSLink® Housing Price Index, is a new measure of price for residential properties in five major markets across Canada. It includes Greater Vancouver, Fraser Valley, Calgary, Toronto, and Montreal, with more markets to be added. It was pioneered by six founding partners: the real estate boards of Calgary, Fraser Valley, Greater Montreal, Greater Vancouver, and Greater Toronto and the Canadian Real Estate Association.

Sukh Sidhu says the new MLS® HPI will be very helpful to REALTORS® in guiding homeowners. “It’s a bigger, better tool to measure the change in home prices in the Fraser Valley and now we can more accurately compare our market to other major cities in Canada.” Learn more at www.homepriceindex.ca.

Source: http://www.fvreb.bc.ca/blog/index.php/2012/02/06/2012-kicks-off-with-new-home-price-measurement-and-a-sluggish-start-to-sales