The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver reached 1,351 on the Multiple Listing Service® (MLS®) in January 2013. This represents a 14.3 per cent decrease compared to the 1,577 sales recorded in January 2012, and an 18.3 per cent increase compared to the 1,142 sales in December 2012.
Last month’s sales were the second lowest January total in the region since 2001 and 18.7 per cent below the 10-year sales average for the month.
“Home sale activity has been below historical averages in Greater Vancouver for about seven months. This has caused a gradual decline in home prices of about 6 per cent since reaching a peak last spring,” Klein said.
Since reaching a peak in May of $625,100, the MLS® Home Price Index composite benchmark price for...
Home sales slow to near historic levels in Fraser Valley as buyers watch and wait from the sidelines
SURREY, BC – A total of 617 sales were processed through the Fraser Valley Real Estate Board’s Multiple Listing Service (MLS®) in January, a decrease of 23 per cent compared to 799 sales during the same month last year. January 2013 ranks as the second slowest for that month in the last thirteen years, second only to January 2009 during the global recession.
Scott Olson, president of the board, says there is a distinction between what REALTORS® saw four years ago compared to today. “People want to buy. We’re already seeing early signs of a typical spring market with more foot traffic at open houses and an increase in calls.
“Buyers have been holding off in hopes that prices...
Open House on Saturday, February 2, 2013 2:00 pm - 4:00 pm
Best location in all of Clayton! This sought after INDIGO townhome backs onto a 9 acre park and manmade pond. Corner unit with a wraparound covered veranda and fully fenced, sunny backyard, 3 bedrooms, 2.5 baths, 1725 finished sq.ft. and double tandem garage. Kitchen has granite countertops and stainless appliances. Main level features 2 pce powder room, laminate flooring, cozy fireplace and walk out backyard. The spacious master bedroom features a walk-in closet, ensuite bathroom and private views of the pond, park and Mountains. Garage has a total of 756 sf plenty of room for storage. Showhome condition with new paint throughout. ONE OF A KIND. This home won't last! Visit Realtor Website for additional pictures.
"Orangewood" in Murrayville. Lovingly cared for 2 storey townhome in Murrayville. The main level features the living room, dining room, kitchen, nook & powder room, at ground level entry. Upstairs has 2 bedrooms & a den. The master bdrm canfit oversized furniture, has a private patio & ensuite with an extra large soaker tub & separate shower. Living room has a vaulted ceiling, cozy gas fireplace & sliding glass doors that open onto a private, sunny patio. Extra features newer kitchen appliances, neutral paint & central vacuum system. Laundry room has plenty of storage with a side by side washer/dryer. Single garage with additional open parking spots. The clubhouse has a workshop, full kitchen & pool table. Pets ok. Call to view.
Should you appeal your BC Assessment? Well, the numbers are out and some are up and some are down with no shortage of conflicting opinion as to what the latest property assessments all mean. As REALTORS® we know that an assessed value determined in July of the previous year may reflect little on the current market value of a property for any number of reasons, including the property was not personally inspected by an assessor, conditions either deteriorated or improved in recent months or market conditions changed.
The Assessment Authority estimates the majority of homeowners will see a change of less than five per cent either up or down. The public can compare their assessment to others in their neighbourhood free of charge by accessing BCA’s websitewww.bcassessment.caand its easy-to-use e-valueBC&...
Ottawa - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
The global economic outlook is slightly weaker than the Bank had projected in its October Monetary Policy Report (MPR). At the same time, global tail risks have diminished. The economic expansion in the United States is continuing at a gradual pace, restrained by ongoing public and private deleveraging, global weakness and uncertainty related to fiscal negotiations. Despite a marked improvement in peripheral sovereign debt markets, Europe remains in recession, with a somewhat more protracted downturn now expected than in October. Growth in China is improving, though economic activity has slowed further in some other major emerging economies. Supported by central bank...
Best location in all of Clayton! This sought after INDIGO townhome backs onto a 9 acre park and manmade lake. Corner unit with a wraparound covered veranda and fully fenced, sunny backyard, 3 bedrooms, 2.5 baths, 1725 finished sq.ft. and double tandem garage. Kitchen has granite countertops and stainless appliances. Main level features 2 pce powder room, laminate flooring, cozy fireplace and walk out backyard. The spacious master bedroom features a walk-in closet, ensuite bathroom and private views of the pond, park and Mountains. Garage has a total of 756 sf plenty of room for storage. Showhome condition with new paint throughout. ONE OF A KIND. This home won't last! Visit Realtor Website for additional pictures.
PENTHOUSE at "Parkview Gardens" in the heart of YALETOWN. 2 levels. The main living area is on the first level and features 3 bedrooms, 3 full baths, 3 balconies, and unobstructed False Creek and city views. Above is a solarium that leads onto a rooftop terrace with 270 degree north, west and southern views. There is approximately 2000 sq ft of outdoor space. Strata fee includes heat and hot water, and use of the recreation facilities: indoor pool & gym. Urban Fare, Roundhouse Community, Seawall, Restaurants, and Canada Line within steps of the front door. BONUS: 3 owned parking stalls and 1 storage locker included. Court Ordered Sale.
Two bedroom plus den south facing end unit in Sunny White Rock. Features 866 sqft and an extra large private PATIO with a view of Mt.Baker. Tastefully renovated with gleaming HARDWOOD floors. Modern updates to the kitchen include: stainlesssteel appliances, double sinks, extra cabinets & stovetop with separate oven. Also features: a walk-in closet in the master bedroom, insuite laundry, custom designer doors, storage locker and 1 parking stall. New roof in 2007. Walking distance to grocery shopping, Semiahmoo Mall, transportation and restaurants. Building is concrete construction with some rainscreen technology and has been updated with new windows and exterior paint. Visit website for more pictures and virtual tour.
Depreciation Reports, Contingency Reserve Funds and Special Levies
Depreciation Reports
Strata corporations are required to obtain depreciation reports by December 14, 2013 (two years from the effective date of the new requirement) or hold a ¾ vote to waive the requirement.
A depreciation report helps strata corporations plan for the repair, maintenance and replacement of common property, limited common property and common assets. The report must contain:
▪ A physical inventory of the common property including building systems.
▪ Anticipated maintenance, repair and replacement costs for common expenses projected over 30 years.
▪ A financial forecasting section that contains at least three cash flow funding models for the contingency reserve fund (CRF).
Depreciation reports provide useful information to strata lot owners and can help prospective purchasers,...
Prices hold firm as home buyers and sellers conclude 2012 from the sidelines
According to the Greater Vancouver Real Estate Board:
The Greater Vancouver housing market experienced below average home sale totals, typical home listing activity and modest declines in home prices in 2012.
The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2012 reached 25,032, a 22.7 per cent decline from the 32,387 sales recorded in 2011, and an 18.2 per cent decrease from the 30,595 residential sales in 2010. Last year’s home sale total was 25.7 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.
The number of residential properties listed for sale on the MLS® in Greater Vancouver declined 2 per cent in 2012 to 58,379 compared to the 59,539 properties listed in 2011. Looking...
Fraser Valley real estate sales at lower levels in 2012
According to the Fraser Valley Real Estate Board:
Fraser Valley’s real estate market in 2012 will be remembered as the year buyers and sellers took a breather reflecting quieter sales, an average number of new listings and prices overall remaining flat.
The president of Fraser Valley’s Real Estate Board, Scott Olson, says, “The last half of 2012 was like a Mexican stand-off. Buyers kept hoping for greater price drops while sellers who didn’t have to sell just took their home off the market rather than lower their price.
“With the economy so stable, we’re not in a situation where people have to sell their home, so they’re not. It’s a very different market than in 2008 when listings were at an all-time high and sales were at historical lows.”
Single Family Home on 3 legal city lots! Each lot has its own PID and have already been subdivided. This home has 3 one bedroom suites AND 1 three bedroom suite. Also features 4 garages, workshop & loft. Some are rented. Corner lot on 1st Ave and Birch St. Features coin shared laundry, views from upper floor, fully fenced yards and lane access. Loft area above the garage is approx 500 sqft. Excellent holding property with huge potential. Developing residential area only 1 block away from local businesses and a few blocks to West Coast Express. Excellent investment Opportunity. Call today to view!
One of a kind beautiful home in Morgan Crossing neighborhood. Breathtaking and fully landscaped property on more than 30,000 sqft lot. This 2582 sqft, 5 bedroom home is immaculately maintained inside and out. New exterior paint, vaulted living and dining room ceiling, skylight, open kitchen with plenty of cabinets and an island. Master ensuite bathroom features large soaker tub, separate shower & double sinks. Family room and kitchen overlook the private and serene backyard with river rock walkways, waterfalls, ponds, water fountain & Mediterranean garden. Nothing to do but move in!
“Guildford Greens”. 3 bedroom, 2 ½ Bathroom townhome backing onto greenbelt. Top of the line finishings include granite counters throughout, crown mouldings on the main level and Master Bedroom. Double garage, electric fireplace, rough-in alarm system. Brand new, never lived in. Net Hst included in the price.
Francisco Lane by Polygon. Private and gated townhouse complex located close to the Skytrain and Schools. 3 large bedrooms and 2 1/2 baths. 1,452 sq ft of living space features tiled vaulted foyer, spacious living and dining room, large eating area with walk out backyard, gas fireplace, single garage and additional storage. Master bedroom has a 4 pce ensuite bathroom and walk-in closet. Worry free property, roof and balconies replaced in 2010. Outdoor pool, hot tub, gym and clubhouse facilities. Short walk to Ron McLean Park. Visit website for additional photos and virtual tour.
Greater Vancouver residential property sale and listing activity below 10-year averages in November
Over the past six months, the Greater Vancouver housing market has seen a reduction in the number of homes listed for sale, a gradual moderation in home prices and a decrease in property sales compared to historical averages.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,686 on the region’s Multiple Listing Service® (MLS®) in November, a 28.6 per cent decline compared to the 2,360 sales in November 2011 and a 12.7 per cent decline compared to the 1,931 home sales in October 2012.
November sales were 30.3 per cent below the 10-year November sales average of 2,420.
“Home sellers appear more inclined to remove their properties from the market today rather...
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.