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The MLSLink HPI® is an alternative measure of real estate prices that provides a clearer picture of market trends over traditional tools such as mean or median average prices.
A mean average is the average price obtained by dividing the total dollar volume of sales by the number of sales.
To get a median price, all of the sales prices are arrayed in numeric order. In the case of an even number of sales, the median is the highest price in the lower half of the group. If there is an odd number of sales, the midpoint sale is taken as the median. |
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The MLSLink HPI® concept is modeled after the Consumer Price Index, which measures the rate of price change for a basket of goods and services. A basket is the combination of goods and services that Canadians buy most such as food, clothing, transportation, etc.
Instead of measuring goods and services, the MLSLink HPI® measures the change in price for a basket of housing features that we buy most often such as lot size, number of rooms, age of the home, the neighbourhood, etc. |
Monday, March 26, 2012 Greater Vancouver housing market trends near long term averages as spring market approachesCloser 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 5.8 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 5.3 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 declined 0.8 per cent between February 2011 and 2012 to $472,800. Friday, January 13, 2012 2012 Property Assessment NoticesAssessment notices – a wake-up call for property ownersProperty owners throughout BC received their 2012 assessment notice the first week of January from BC Assessment (BCA).
This notice is BC Assessment’s estimate of a property’s value as of July 1, 2011, and for new construction or substantially renovated homes, the physical condition as of October 31, 2011.
BCA is the government agency responsible for determining and reporting property value estimates for the 1,917,394 properties in its database, a 0.75% increase in the number of properties since 2011. BC Assessment and a REALTOR® assessment. Why the difference?BCA’s assessment and the market value determined by a REALTOR® may be different. Why? Both BCA assessors and REALTORS® calculate market value by analyzing sales of comparable homes within a local market, and look at factors that affect value such as size of home, view, location – on a busy or quiet street, number of bedrooms, construction quality, floor level, and garage or parking stalls.
Where every lot and every home on a street are typically the same, both BCA’s value and a REALTOR’s® value will be similar during stable market conditions.
Differences occur in neighbourhoods where lots have been rezoned or are different shapes and sizes, where architecture and views are unique, and where owners have made changes that BCA hasn’t yet taken into account.
Differences also occur during market instability when prices rise or fall during the six-month period between July 1 and January 1 the following year. Wake-up call – how to appeal an assessmentSince July 1, 2011 home owners may have seen prices stalling in some neighbourhoods and rising in others. Assessments may reflect these changes.
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Area assessors’ phone numbers
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| Location | Phone number |
| Vancouver, the North Shore, Squamish, Whistler, Pemberton, Sunshine Coast |
604-739-8588 Local 450 |
| Richmond, South Delta | 604-241-1364 Local 254 |
| Pitt Meadows, Maple Ridge | 604-850-5900 Local 261 |
| Anmore, Belcarra, Burnaby, Coquitlam, New Westminster, Port Coquitlam, Port Moody |
604-294-6441 Local 256 |
Property owners who decide to appeal must file a written request by January 31, 2012. For information, visit www.bcassessment.ca and select Learn more about the Notice of Complaint (Appeal) process and the Property Assessment Review Panel.
What can an appeal mean for a property owner?
The formula for calculating taxes on property is:
Tax Rate x Assessed Value / 1,000
If the tax rate is 4.000 and the property assessment is $1 million, then the taxes payable are $4,000.
No notice
If a property owner has concerns about their local taxes, they should contact their local government office. Taxes aren’t appealable.
New feature - save assessment data
Visit www.bcassessment.ca and select e-valueBC to view and compare the assessed value of any BC property. A new feature this year lets you download and save assessment data as a PDF or an Excel file.
Balanced real estate market prevailed through much of 2011
Balanced real estate market prevailed through much of 2011
Attached property sales in December 2011 totalled 254, a decline of 20.4 per cent compared to the 319 sales in December 2010, and a 44.7 per cent decrease from the 459 attached properties sold in December 2009. The benchmark price of an attached unit increased 4.2 per cent between December 2010 and 2011 to $511,499.
Download the complete stats package by clicking here.
MLSLink HPI® explained
Before the MLSLink HPI® was introduced in 1997, REALTORS® and the public relied on monthly average pricing statistics to understand trends in housing prices. Averages, however, can be very misleading since the quantity and quality of the properties sold in any given area change over time for any number of reasons. As a result, average prices can fluctuate dramatically, making the housing market appear unstable.
To demonstrate this point, let’s look a couple of examples of how average prices are affected by various changes in sales patterns.
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Year 1 ($) |
Year 2 ($) |
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1. 139,000 |
1. 139,000 |
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2. 145,000 |
2. 145,000 |
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3. 230,000 |
3. 230,000 |
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4. 265,000 |
4. 265,000 |
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5. 290,000 median average |
5. 290,000 median average |
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6. 320,000 |
6. 320,000 |
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7. 365,000 |
7. 365,000 |
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8. 425,000 |
8. *545,000 |
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9. 480,000 |
9. *580,000 |
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Total $2,659,000 ÷ 9 sales = $295,444, which is the mean average |
Total $2,879,000 ÷ 9 sales = $319,888, which is the mean average |
In this example, the mean average increased by 7.7 percent while the median average stayed the same. This shows that price changes at either end of the price scale affect the mean average, but can leave the median average virtually unchanged.
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Year 1 ($) |
Year 2 ($) |
|---|---|
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1. 139,000 |
1. 139,000 |
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2. 145,000 |
2. 145,000 |
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3. 230,000 |
3. 230,000 |
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4. 265,000 |
4. *290,000 |
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5. 290,000 median average |
5. *320,000 median average |
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6. 320,000 |
6. *335,000 |
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7. 365,000 |
7. *395,000 |
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8. 425,000 |
8. *400,000 |
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9. 480,000 |
9. *405,000 |
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Total$2,659,000 ÷ 9 sales = $295,444, which is the mean average |
Total$2,659,000 ÷ 9 sales = $295,444, which is the mean average |
In this example, the mean average stayed the same while the median average increased by 9.4 percent. This shows that price changes in the mid-range section of the price scale affect the median average, but can leave the mean average virtually unchanged.
Neither of these price measurements take into account the changes in buying pattern — In year one luxury homes in the region are popular; the following year more modestly priced homes are popular. Both methods of price tracking can have the effect of overestimating the market price that home buyers are actually paying for their homes.
Defining the typical home
The MLSLink HPI®is a more stable price indicator than average prices, because it tracks movement of "middle-of-the-range" or "typical" homes and excludes the extreme high-end and low-end properties. Typical homes are defined by the average home features sold in Greater Vancouver communities.
These features together become the "benchmark" house, townhouse or apartment in a given area. A benchmark property is designed to represent a typical residential property in a particular MLSLink HPI® housing market, such as Richmond or North Vancouver.
For example, perhaps the basket of features for a typical home in a given community includes a 10-year-old, 3-bedroom house on a 7,200 sq. ft. lot, with 8 rooms, 2 bathrooms, a fireplace and a 1-car garage. A benchmark price for this home can be created from the individual dollar values given to each of the above features.
The breakdown of each month’s real estate sales in a given area are estimates of current prices paid for bedrooms, bathrooms, fireplaces, etc. Prices for these features are then applied to the typical house model and an index price is estimated for that month.
This type of pricing model involves estimating the price of a property’s features rather than the property itself.Note: The MLSLink HPI® offers only a benchmark in which to track price trends and consumers should be careful not to misinterpret index figures as actual prices. Benchmark properties are considered average properties in a given community and do not reflect any one particular property.
© 2008-2011 Real Estate Board of Greater Vancouver
For all your premium real estate services, please contact Maria Mak and her team at Sutton Centre Realty at 604-839-6368 or visit her websites at www.mariamak.com, You'll be smiling too!
The popularity of combination mortgages
The popularity of combination mortgages
In fact, 40% of Canadians who are likely to purchase a home within the next two years plan to take out a combination mortgage, compared to 32% in 2009.
The surging popularity of combination mortgages indicates that Canadians are trying to maximize low interest rates while at the same time retaining the security of a fixed mortgage. The poll also revealed a marked gender split with more women (46%) than men (35%) preferring a combination mortgage.
While combination mortgages are gaining in popularity, fixed-rate mortgages continue to be the most common choice for potential buyers and are preferred by 44% of Canadians likely to buy a home within the next two years. Atlantic Canadians are most likely (54%) to opt for a fixed rate, with Ontarians (41%) least likely to do so.
"Although interest rates are expected to rise, our study shows that not all Canadians intend to automatically opt for a fixed mortgage with a longer term," said Marcia Moffat, Head, Home Equity Financing, RBC Royal Bank. "As consumers begin to learn about the benefits of mortgage diversification, we're seeing more homebuyers gain a better comfort level with adding floating-rate mortgage options."
For all your creative financing, please contact Maria Mak at 604-839-6368 and her team at Sutton Centre Realty or visit her website www.mariamak.com, you'll be smiling too!
Home energy efficiency upgrades made easy
Home energy efficeincey upgrades made easy
Lower your engery bills, access government rebates, improve the comfort of your home and reduce its environmental footprint with the City of Vancouver's Greenest City 2020 Home Energy Loan Program.
The program offers loasn ranging from $4,000 to $16,000 to cover the cost of select engery efficiency upgrades. The loans, administered by Vancity, will be offered at a low, fixed interest rate over a 10 - year amortization period, allowing affordable, predictable payments over the life of the loan.
In addition to the fianancing, the HOme Engergy Loan Program helps simplify the process by connecting you to experts, helping you access up to $9,300 in rebates, and offering guidance and support.
Eligible upgrades include high - efficiency furnaces, and hot water tanks, air - to air heat pumps, insulation , and weatherization.
Buildings in Vancouver, including homes, contribute an estimated 55 per cent of Vancouver's greenhouse gas(GHG) emissions ( gases that trap heat in the atmosphere and contribue to climate change). The City is aming to reduce GHG imissions city wide by one third by 2020.
Making energy efficiency upgrades to single family homes and duplexes could save approximately 90,000 tons fo GHGs by 2020. That wuld be like permanently removing 2,000 cars from Vancouver's roads. Homeowners like you can help Vancouver reach its goal by becoming the world's greenest city by 2020 by making your home more energy efficient.
Lear more :
www.vancouver.ca/greenestcity/energyloan
Historically normal activity keeps ...
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copyright© real estate board of greater vancouver. all rights reserved. |
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Will the future for Canada's housing market look similar to its recent past?
Maria Mak - Burnaby Realtor - Greater Vancouver at lower end of balanced housing market
Greater Vancouver at lower end of balanced housing market
With a sales-to-active property listings ratio of 15 per cent, the Greater Vancouver housing market continues to hover at the lower end of a balanced market and has been trending in that direction over the past five months
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The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) system reached 2,317 in October, a 1 per cent decrease compared to the 2,337 sales in October 2010 and a 3.2 per cent increase compared to the previous month. Those sales rank as the second lowest total for October over the last 10 years.
“Right now, prospective home buyers have a good selection of properties to choose from and more time to make decisions,” Rosario Setticasi, REBGV president said. “Home sellers should be mindful of local market conditions to ensure they are pricing their properties competitively.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,374 in October, which is on par with the 10-year average. This represents an 18.3 per cent increase compared to October 2010, when 3,698 properties were listed for sale on the MLS®, and a 23 per cent decrease compared to the 5,680 new listings reported in September 2011
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The total number of properties listed for sale on the Greater Vancouver MLS® system currently sits at 15,377, which is 9.3 per cent higher than the 14,075 properties listed for sale during the same period last year. October was the first month that the total number of property listings showed a decrease this year.
The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 7.5 per cent to $622,955 in October 2011 from $579,349 in October 2010. However, since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 1.3 per cent.
Sales of detached properties in October reached 974, which represents virtually no change from the 976 detached sales recorded in October 2010, and a 34.5 per cent decrease from the 1,487 units sold in October 2009. The benchmark price for detached properties increased 11 per cent from October 2010 to $884,778, but decreased 1.3 per cent compared to the previous month.
Sales of apartment properties reached 958 in October, a 2.6 per cent decrease compared to the 984 sales in October 2010, and a decrease of 40.4 per cent compared to the 1,607 sales in October 2009. The benchmark price of an apartment property increased 3.2 per cent from October 2010 to $402,702, but decreased 0.7 per cent compared to the previous month.
Attached property sales in October totalled 382, a 1.3 per cent increase compared to the 377 sales in October 2010, and a 37.4 per cent decrease from the 610 attached properties sold in October 2009. The benchmark price of an attached unit increased 6.5 per cent between October 2010 and 2011 to $519,455, and increased half a per cent compared to the previous month.
Understanding your credit score when borrowing
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Understanding your credit score when borrowing | |
Each year thousands of prospective homeowners are shocked to discover their credit history will hinder their ability to own their dream home.
The very first thing that your loan officer checks when you apply for a mortgage or any kind of credit is your credit score. You are rated in terms of the score which in most cases influences the amount you can borrow. Understanding your credit score in a better way enhances your chances to develop a higher score and thus benefit from loans at better terms and conditions.
A credit score consists of many factors: your payment history, your credit card balances, bank accounts, including savings and checking accounts, and any other form of credit including all outstanding personal loans, mortgage loans, store credit cards, etc.
Credit scores are calculated from many different forms of credit data in your credit report. Each credit reporting bureau has their own standards and formulas that they use for the purpose of calculating a consumer’s credit score. The following is a generalized classification of a credit score rating:
 Excellent credit rating - No late payments, no collection notices, no bankruptcies or repossessions.Good credit rating - May contain a late payment within the last two years.
Fair credit rating - More than one late payment. May or may not have a bankruptcy or repossession in the last two to three years.
Poor credit rating - Recent collection attempts, late payments within the last year, bankruptcies and/or repossessions within the last two to three years. The reason why a credit score is important is that it will determi
 ne your eligibility for a loan. A low credit score may hinder approval, and it will also impact the interest rate you will have to pay for the money that you borrow.Since individuals with less than perfect credit traditionally present more of a risk of defaulting on a loan. Lenders are able to justify charging more interest to those consumers. The extra interest the lender earns on the loan is intended to compensate the lending agency in the event the consumer defaults on the loan. Over the course of a 15 or 30 year mortgage, those extra interest points can add up to an astounding amount of money.
Your credit score is the indication of your financial health. You should do your best to avoid damaging your credit history with late or missing payments, too many outstanding loans or too many loan requests. Watching your credit score closely especially before you make any major purchases will help you avoid unwanted surprises.
For all your premium real estate services, pleae contact Maria Mak and her team at 604-839-6368 or visit her website at www.mariamak.com, or www.mariamak.ca, You'll be smiling too! |
Home listings continue to rise in Greater Vancouver housing market
Home listings continue to rise in GreaterVancouver housing market
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Marihuana Grow Operations - British Columbia
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Marihuana Grow Operations - British Columbia
| Address | City | Prov | Location Type | Quantity & Type | Date |
|---|---|---|---|---|---|
| 18974 92 St | Surrey | BC | Residence | 730 marihuana plants | 2010-10-05 |
| 8945 Harvie Rd | Surrey | BC | Residence | 317 marihuana plants | 2010-10-19 |
| 8577 165 St | Surrey | BC | Residence | 544 marihuana plants | 2010-10-26 |
| 5993 Holstein St | Surrey | BC | Residence | 1145 marihuana plants | 2010-10-28 |
| 7677 Berkeley Pl | Surrey | BC | Residence | 502 marihuana plants | 2010-11-03 |
| 9409 132 St | Surrey | BC | Outbuilding | 294 marihuana plants | 2010-12-09 |
| 213491 16 Ave | Langley | BC | Outbuilding | 546 marihuana plants | 2011-01-06 |
| 12422 53 Ave | Surrey | BC | Residence | 1010 marihuana plants | 2011-01-19 |
| 13079 109 Ave | Surrey | BC | Residence | 315 marihuana plants | 2011-02-01 |
| 12079 99 Ave | Surrey | BC | Residence | 2446 marihuana plants | 2011-02-10 |
| 16426 85 Ave | Surrey | BC | Residence | 759 marihuana plants | 2011-02-24 |
| 105-9488 189 St | Surrey | BC | Business | 145 marihuana plants | 2011-03-15 |
| 5904 144 St | Surrey | BC | Residence | 2431 marihuana plants | 2011-03-23 |
| 11309 Lansdowne Dr | Surrey | BC | Residence | 334 marihuana plants | 2011-03-30 |
| 11337 Lansdowne Dr | Surrey | BC | Residence | 629 marihuana plants | 2011-03-30 |
| 8976 187 St | Surrey | BC | Residence | 651 marihuana plants | 2011-03-31 |
| 7976 170A St | Surrey | BC | Residence | 30 marihuana plants | 2011-04-05 |
| 13720 111 Ave | Surrey | BC | Residence | 822 marihuana plants | 2011-04-09 |
| 14996 91A Ave | Surrey | BC | Residence | 1286 marihuana plants | 2011-05-05 |
| 12501 53 Ave | Surrey | BC | Residence | 559 marihuana plants | 2011-05-11 |
| 12458 53 Ave | Surrey | BC | Residence | 264 marihuana plants | 2011-05-11 |
| 20035 97 Hwy | Prince George | BC | Residence | 1708 marihuana plants | 2011-05-24 |
| 13839 58 Ave | Surrey | BC | Residence | 720 marihuana plants | 2011-05-26 |
| 10124 156 St | Surrey | BC | Residence | 233 marihuana plants | 2011-06-08 |
| 12255 102A Ave | Surrey | BC | Residence | 212 marihuana plants | 2011-07-21 |
| 18274 60 Ave | Surrey | BC | Residence | 982 marihuana plants | 2011-07-27 |
| 1417 194 St | Surrey | BC | Outbuilding | 939 marihuana plants | 2011-08-09 |
| 1668 Eagle Rock Rd | Spallumcheen | BC | Residence | 1600 marihuana plants | 2011-03-09 |
| 20 Bigg Rd | Lumby | BC | Outbuilding | 1544 marihuana plants | 2011-07-26 |
| 2095 Eagle Creek Rd | 100 Mile House | BC | Outbuilding | 2451 marihuana plants | 2011-09-08 |
| 3475 Muermann Rd | Prince George | BC | Outbuilding | 704 marihuana plants | 2011-08-18 |
| 6204 Garrett Rd | 100 Mile House | BC | Residence | 871 marihuana plants | 2011-07-20 |
| 6136 Likely Rd | Likely | BC | Outbuilding | 2632 marihuana plants | 2011-07-13 |
| 22770 Chamberlain Rd | Prince George | BC | Residence | 321 marihuana plants | 2011-06-20 |
| 39690 Chief Lake Rd | Prince George | BC | Residence | 1185 marihuana plants | 2011-07-06 |
| 8336 Christina Rd | Prince George | BC | Outbuilding | 1039 marihuana plants | 2011-06-28 |
| 38139 Lucas Rd | Prince George | BC | Residence | 1456 marihuana plants | 2011-06-17 |
| 4608 Crocus Rd | Prince George | BC | Residence | 113 marihuana plants | 2011-05-31 |
| 6211 Keithley Creek Rd | Likely | BC | Residence | 1336 marihuana plants | 2011-05-20 |
| Block A, Sec 21, Township 26 | Lac La Hache | BC | Outbuilding | 1336 marihuana plants | 2011-08-25 |
| 5017 Anderson Rd | Kelowna | BC | Residence | 768 marihuana plants | 2011-07-28 |
| 6084 Marine Dr | Burnaby | BC | Residence | 140 marihuana plants | 2010-12-02 |
| 128 Glynde Ave | Burnaby | BC | Residence | 38 marihuana plants | 2011-05-06 |
| 3765 Wakefield Crt | Burnaby | BC | Residence | 633 marihuana plants | 2011-05-31 |
| 6875 Burlington Ave | Burnaby | BC | Residence | 18 marihuana plants | 2011-08-31 |
| 7033 MacPherson Ave | Burnaby | BC | Business | 1298 marihuana plants | 2011-01-11 |
| 3063 Astor Dr | Burnaby | BC | Residence | 476 marihuana plants | 2011-04-14 |
| 6537 Portland St | Burnaby | BC | Residence | 592 marihuana plants | 2011-05-26 |
| 1633 Taralawn Crt | Burnaby | BC | Residence | 538 marihuana plants | 2011-07-20 |
| 4330 Charles St | Burnaby | BC | Residence | 152 marihuana plants | 2011-01-19 |
| 3356 Garibaldi Dr | North Vancouver | BC | Residence | 883 marihuana plants | 2011-06-30 |
| 529 Linton St | Coquitlam | BC | Residence | 951 marihuana plants | 2011-08-20 |
| 160-12588 Clarke Pl | Richmond | BC | Business | 378 marihuana plants | 2011-08-31 |
| 13882 Dome Creek Rd | Dome Creek | BC | Residence | 884 marihuana plants | 2011-08-03 |
| 236 Murtle Rd | Clearwater | BC | Residence | 860 marihuana plants | 2011-06-30 |
| 1370 North Rd | Gibsons | BC | Residence | 500 marihuana plants | 2010-11-17 |
| 20280 Kettle Valley Rd | Hope | BC | Residence & Outbuildings | 6496 marihuana plants | 2011-06-08 |
| 26781 112 Ave | Maple Ridge | BC | Outbuilding | 1490 marihuana plants | 2011-05-26 |
| 2483 97 Hwy | Princeton | BC | Quonset | 1100 marihuana plants | 2011-05-17 |
| 6251 Gibbons Dr | Richmond | BC | Residence | Methamphetamine Lab | 2011-07-21 |
| 5105 Erie Ross Spur Rd | Salmo | BC | Residence | 239 marihuana plants | 2011-06-02 |
| 5396 Burnett Rd | Sechelt | BC | Outbuilding | 445 marihuana plants | 2011-06-15 |
| 5814 Marine Way | Sechelt | BC | Residence | 860 marihuana plants | 2010-11-26 |
| 12458 53 Ave | Surrey | BC | Residence | 264 marihuana plants | 2011-05-11 |
| 14996 91A Ave | Surrey | BC | Residence | 1286 marihuana plants | 2011-05-05 |
| 1417 194 St | Surrey | BC | Outbuilding | 939 marihuana plants | 2011-08-09 |
| 12501 53 Ave | Surrey | BC | Residence | 559 marihuana plants | 2011-05-11 |
| 14246 Hyland Rd | Surrey | BC | Residence | 1223 marihuana plants | 2011-05-04 |
| 3214 Vimy Crescent | Vancouver | BC | Residence | Chemicals and unknown substances | 2011-04-04 |
| 3414 Mcginnis Rd | West Kelowna | BC | Residence | 770 marihuana plants | 2011-04-27 |
| 4324 3A Hwy | Wynndel | BC | Residence | 438 marihuana plants | 2011-06-10 |
| 1533 Elinor Crescent | Port Coquitlam | BC | Residence | 268 marihuana plants | 2011-08-25 |
Greater Vancouver home sales trends toward buyers' market over summer
Attached property sales in August 2011 totalled 403, a 7.8 per cent increase compared to the 374 sales in August 2010, and a 33.9 per cent decrease from the 610 attached properties sold in August 2009. The benchmark price of an attached unit increased 4.5 per cent between August 2010 and 2011 to $511,433.
Active home sellers bring greater selection to the Greater Vancouver housing market
| Active home sellers bring greater selection to the Greater Vancouver housing market While the balance between home buyer and seller activity remains in an equilibrium range in the Greater Vancouver housing market, last month’s home sale total was below the 10-year average for July.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,571 in July, a 14 per cent increase compared to the 2,255 sales in July 2010 and a 21.2 per cent decline compared to the 3,262 sales in June 2011.
“We’re seeing less multiple offer situations in the market today compared to the last few months, but our members tell us that homes priced competitively continue to sell at a relatively swift pace,” Rosario Setticasi, REBGV president said. “It’s taking, on average, 41 days to sell a property in the region, which is unchanged from June of this year.”
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,097 in July. This represents a 23.2 per cent increase compared to July 2010 when 4,138 properties were listed for sale on the MLS® and a 12 per cent decline compared to the 5,793 new listings reported in June 2011.
Last month’s new listing total was 8.6 per cent higher than the 10-year average for July, while residential sales were 17.3 per cent below the ten-year average for sales in July.
At 15,226, the total number of residential property listings on the MLS® increased 0.8 per cent in July compared to last month and declined 7.3 per cent from this time last year.
“The number of homes listed for sale in the region has increased each month since the start of the year, which is giving buyers more selection to choose from and more time to make decisions,” Rosario Setticasi, REBGV president said.
The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 9.2 per cent to $630,251 in July 2011 from $577,074 in July 2010.
Sales of detached properties on the MLS® in July 2011 reached 1,099, an increase of 21 per cent from the 908 detached sales recorded in July 2010, and an 31.9 per cent decrease from the 1,614 units sold in July 2009. The benchmark price for detached properties increased 13.3 per cent from July 2010 to $898,886.
Sales of apartment properties reached 1,040 in July 2011, a 6.2 per cent increase compared to the 979 sales in July 2010, and a decrease of 39.1 per cent compared to the 1,708 sales in July 2009. The benchmark price of an apartment property increased 4.5 per cent from July 2010 to $405,306.
Attached property sales in July 2011 totalled 432, a 17.4 per cent increase compared to the 368 sales in July 2010, and a 45.5 per cent decrease from the 792 attached properties sold in July 2009. The benchmark price of an attached unit increased 6.9 per cent between July 2010 and 2011 to $524,909. |
Summer housing market trends toward balance after an active spring season
“With sales below the 10-year average and home listings above what’s typical for the month, activity in June brought closer alignment between supply and demand in our marketplace,” Rosario Setticasi, REBGV president said. “With a sales-to-active-listings ratio of nearly 22 per cent, it looks like we’re in the upper end of a balanced market.”
Sales of apartment properties reached 1,266 in June 2011, a 0.6 per cent increase compared to the 1,258 sales in June 2010, and a decrease of 29.3 per cent compared to the 1,790 sales in June 2009. The benchmark price of an apartment property increased 3.5 per cent from June 2010 to $405,200.
Maria Mak - Burnaby Realtor - Latest Real Estate News-The Home Buyer's Plan
Maria Mak - Burnaby Reaaltor - Latest Real Estate News
The Home Buyers' Plan (HBP)
The Home Buyers' Planallows eligible individuals to withdraw up to $25,000 tax free from their Registered Retirement Savings Plan (RRSP)to purchase or build a qualifying home.
Delivered by: Canada Revenue Agency (CRA)
Eligibility Information
The Canada Revenue Agency considers the following persons first-time home buyers:
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persons, including former homeowners, who have not owned a home they occupied as a principal place of residence at any time during the four-year period before the date of withdrawal of funds
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disabled persons acquiring a more accessible home
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persons acquiring a more accessible home for a disabled person related to them by blood, marriage, common-law partnership or adoption
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persons providing funds to a disabled person related to them by blood, marriage, common-law partnership or adoption, to build or purchase a more accessible home
Other criteria may apply.
Dates and Deadlines
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Participants must begin repayment two years after withdrawing the funds.
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Amounts withdrawn under the Plan must be repaid over a period of no more than 15 years.
For all your premium real estate services, please contact Maria Mak and her team at Sutton Centre Realty at 604-839-6368 or visit her websites at www.mariamak.ca, www.mariamak.com, You'll be smiling too!
The average price of a home in British Columbia rose 15%from March of last year to March 2011
Home buyers and sellers enter the housing market at near record pace in March 2011
Attached property sales in March 2011 totalled 663, a 20.8 per cent increase compared to the 549 sales in March 2010, and a 69.1 per cent increase from the 392 attached properties sold in March 2009. The benchmark price of an attached unit increased 3.6 per cent between March 2010 and 2011 to $511,039.
Metro Vancouver property value jumps...
Elsewhere in the region, B.C. Assessment estimates the residential market value increased 12.17 per cent in Vancouver, 7.58 per cent in Surrey, 6.02 per cent in White Rock, 9.22 per cent in Delta, 12.07 per cent in Burnaby, 9.12 per cent in Coquitlam, 9.11 per cent in New Westminster, 8.84 per cent in North Vancouver district, Langley township 6.55 per cent, and 13.03 per cent in West Vancouver.
"That has made some difference -- the transportation," Kirkpatrick said in a phone interview.
"I had people say, "Oh, that's where I want to be, I want to use the RAV line."
Owners of the 1.9 million properties in B.C. can check online for the latest figures. Notices with expanded information were given to Canada Post on Dec. 31 and will be arriving in the mail this week.
Provincially, the assessment roll reached $969 billion in January 2010.
Housing market factors indicate stability in recent months
Attached property sales in September 2010 totalled 383, a decline of 40.1 per cent compared to the 647 sales in September 2009, and a 39.3 per cent increase from the 275 attached properties sold in September 2008. The benchmark price of an attached unit increased 5.2 per cent between September 2009 and 2010 to $490,385.
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- Sutton Centre Realty
- 3010 Boundary Road
- Burnaby, BC
- V5M 4A1 CA
