Tuesday, October 4, 2011

Home listings continue to rise in Greater Vancouver housing market

by Maria Mak on Tue, Oct, 4, 2011 06:52 PM

Home listings continue to rise in GreaterVancouver housing market

Consistent increases in property listings and fewer home sales over the summer months has helped move the Greater Vancouver housing market into the upper end of a buyers’ market.

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 2,246 in September, a 1.2 per cent increase compared to the 2,220 sales in September 2010. Those sales also rank as the third lowest total for September over the last 10 years.

“There's more competition amongst home sellers in today's market, providing more options for prospective buyers," Rosario Setticasi, REBGV president said."Buyers now have more properties to choose from and more time to make decisions compared to the spring season.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,680 in September, the third highest volume for September in 17 years. This represents a 20.1 per cent increase compared to September 2010 when 4,731 properties were listed for sale on the MLS® and a 21.2 per cent increase compared to the 4,685 new listings reported in August 2011.

The number of properties listed for sale on the Greater Vancouver MLS® system has increased each month since the beginning of the year. At 16,085, the total number of residential property listings on the MLS® increased 4.6 per cent in September compared to August 2011 and rose 4.4 per cent compared to this time last year.

“Our sales-to-active-listing ratio currently sits at 14 per cent, which is the lowest it’s been this year. Generally analysts say that a buyer’s market takes shape when the ratio dips to about 12 to 14%, or lower, for a sustained period of time,” Setticasi said.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.8 per cent to $627,994 in September 2011 from $577,174 in September 2010.

Since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 0.5 per cent.

Sales of detached properties on the MLS® in September 2011 reached 957, an increase of 10.5 per cent from the 866 detached sales recorded in September 2010, and a 32.8 per cent decrease from the 1,423 units sold in September 2009. The benchmark price for detached properties increased 13.4 per cent from September 2010 to $896,701.

Sales of apartment properties reached 922 in September 2011, a 5 per cent decrease compared to the 971 sales in September 2010, and a decrease of 38.1 per cent compared to the 1,489 sales in September 2009. The benchmark price of an apartment property increased 4.4 per cent from September 2010 to $405,569.

Attached property sales in September 2011 totalled 367, a 4.2 per cent decrease compared to the 383 sales in September 2010, and a 43.3 per cent decrease from the 647 attached properties sold in September 2009. The benchmark price of an attached unit increased 5.4 per cent between September 2010 and 2011 to $516,697.

Download the complete stats package by clicking here.

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Thursday, September 22, 2011

Marihuana Grow Operations - British Columbia

by Maria Mak on Thu, Sep, 22, 2011 03:16 PM

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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

TO BE USED FOR INFORMATION PURPOSES ONLY

The addresses posted may have, at one time, been the address at which a marijuana grow operation and/or a clandestine laboratory may have been located. While the RCMP has made all reasonable efforts to be accurate, this information is not warrantied. Some addresses may have been erroneously included in this list. If there is an address which has been erroneously included on this list, please advise the site administrator as soon as possible so that the issue may be addressed.

This is also not intended to be an exhaustive list of all addresses at which the RCMP is aware that marijuana grow operations and/or clandestine laboratories have been located. This list should not be relied upon for such purposes. It is always best to independently verify the accuracy of such information and to not rely on the information provided.

It is important to be aware that the linking of an address to a possible marijuana grow operation and/or a clandestine laboratory does not necessarily impute knowledge by either the occupants or the owner of the dwelling.

This list is for information purposes only and is not intended to be relied upon by any individuals. The RCMP will accept neither liability nor damages by any person who rely upon this information to their detriment.

Please send comments, concerns, questions to MGO-ICM@rcmp-grc.gc.ca

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Friday, September 2, 2011

Greater Vancouver home sales trends toward buyers' market over summer

by Maria Mak on Fri, Sep, 2, 2011 09:49 PM

Greater Vancouver home sales trends toward buyer's market over summer

August marked the third consecutive month that home sale activity in Greater Vancouver was below the 10-year average for the month. In contrast, home listing activity in the region has exceeded the 10-year norm every month since the beginning of the year.

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 2,378 in August. This total represents an eight per cent increase compared to the 2,202 sales in August 2010, but also ranks as the third lowest total for August in the last 10 years.

“MLS® statistics continue to indicate that we’re in a balanced market,” Rosario Setticasi, REBGV president said. “However, with a sales-to-actives listings ratio of 15 per cent, Greater Vancouver is in the lower end of a balanced market and has been trending toward a buyers’ market over the past three months.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,685 in August. This represents a 24.9 per cent increase compared to August 2010 when 3,750 properties were listed for sale on the MLS® and an eight per cent decline compared to the 5,097 new listings reported in July 2011. Last month’s new listing total was the highest volume recorded for August in 16 years.

At 15,437, the total number of residential property listings on the MLS® increased 1.4 per cent in August compared to July 2011 and rose 0.1 per cent compared to this time last year.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.5 per cent to $625,578 in August 2011 from $576,597 in August 2010.

“Year over year, prices are up. However, in the detached home category, benchmark prices have come down slightly in each of the past two months,” Setticasi said. “It’s important for people entering the market to understand that activity can differ significantly depending on the area and property type.”

Sales of detached properties on the MLS® in August 2011 reached 1,020, an increase of 14.2 per cent from the 893 detached sales recorded in August 2010, and a 25.4 per cent decrease from the 1,367 units sold in August 2009. The benchmark price for detached properties increased 11.7 per cent from August 2010 to $888,243.

Sales of apartment properties reached 955 in August 2011, a 2.1 per cent increase compared to the 935 sales in August 2010, and a decrease of 34.8 per cent compared to the 1,464 sales in August 2009. The benchmark price of an apartment property increased 5.6 per cent from August 2010 to $407,457.

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.

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Thursday, August 4, 2011

Active home sellers bring greater selection to the Greater Vancouver housing market

by Maria Mak on Thu, Aug, 4, 2011 07:25 PM

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.

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Tuesday, July 5, 2011

Summer housing market trends toward balance after an active spring season

by Maria Mak on Tue, Jul, 5, 2011 07:36 PM

Summer housing market trends towards balance after an active spring season

VANCOUVER, BC – Home sellers outpaced buyers on Greater Vancouver’s Multiple Listings Service® (MLS®) in June, drawing the market back toward balance this summer.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 3,262 in June, a 9.8 per cent increase compared to the 2,972 sales in June 2010 and a 3.4 per cent decline compared to the 3,377 sales in May 2011.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,793 in June. This represents a 4.5 per cent increase compared to June 2010 when 5,544 properties were listed for sale on the MLS® and a 2.3 per cent decline compared to the 5,931 new listings reported in May 2011.

Last month’s new listing total was 9.8 per cent higher than the 10-year average for June, while residential sales were 7.3 per cent below the ten-year average for sales in June.

“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.”

At 15,106, the total number of residential property listings on the MLS® increased 3.1 per cent in June compared to last month and declined 14 per cent from this time last year.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.7 per cent to $630,921 in June 2011 from $580,237 in June 2010.

“The largest price increases continue to be in the detached home market on the westside of Vancouver and in West Vancouver,” Setticasi said. “Since the end of May, the benchmark price of a detached home rose more than $147,000 on the westside of Vancouver and over $80,000 in West Vancouver. Detached home prices in Richmond, however, levelled off slightly, declining $25,000 in June.”

Sales of detached properties on the MLS® in June 2011 reached 1,471, an increase of 29.1 per cent from the 1,139 detached sales recorded in June 2010, and an 11.8 per cent decrease from the 1,667 units sold in June 2009. The benchmark price for detached properties increased 13.4 per cent from June 2010 to $901,680.

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.

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Monday, May 2, 2011

Maria Mak - Burnaby Realtor - Latest Real Estate News-The Home Buyer's Plan

by Maria Mak on Mon, May, 2, 2011 09:45 PM

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:

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
disabled persons acquiring a more accessible home
persons acquiring a more accessible home for a disabled person related to them by blood, marriage, common-law partnership or adoption
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

Participants must begin repayment two years after withdrawing the funds.
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!

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Monday, April 18, 2011

The average price of a home in British Columbia rose 15%from March of last year to March 2011

by Maria Mak on Mon, Apr, 18, 2011 09:47 PM

The average price of a home in British Columbia rose 15 per cent from March of last year to March 2011, the B.C. Real Estate Association reported in a news release today.

The BCREA release said Multiple Listing Service residential sales in the province were up 11.5 per cent compared to March of 2010.

Sales in March amounted to 8,600 units. The average price in March was $594,157.

"We continue to observe a two-speed market in BC, with surging consumer demand in Metro Vancouver overshadowing more moderate demand in other regions," Cameron Muir, BCREA chief ecconomist, said in the release.

"Vigorous consumer demand drove Greater Vancouver to its most active March since 2004, while the Fraser Valley had its strongest March in four years.

"Conversely, sales activity in other B.C. markets is expanding at a pace more inline with overall economic growth."

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Saturday, April 9, 2011

Home buyers and sellers enter the housing market at near record pace in March 2011

by Maria Mak on Sat, Apr, 9, 2011 09:52 PM

Home buyers and sellers enter the housing market at near record pace in March 2011

Vancouver, BC - Activity in the Greater Vancouver housing market continued to strengthen in March with both the number of homes sold and added to the region’s Multiple Listing Service® (MLS®) reaching near record levels.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties in Greater Vancouver reached 4,080 in March 2011. This represents a 31.7 per cent increase compared to the 3,097 sales recorded in February 2011, an increase of 30.1 per cent compared to the 3,137 sales in March 2010 and an 80.1 per cent increase from the 2,265 home sales in March 2009. The all-time sales record for March occurred in 2004 when 4,371 transactions were recorded.

“Our market has had a very strong start to the spring season,” Rosario Setticasi, REBGV president said. “With home sales above 4,000 and nearly 7,000 home listings added to the MLS® in March, it’s clear that home buyers and sellers view this as a good time to be active in their local housing market.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 6,797 in March 2011. This represents a 3 per cent decline compared to March 2010 when 7,004 properties were listed for sale on the MLS®, an all-time record for March. Compared to February 2011, last month’s new listings total registered a 19.4 per cent increase.

At, 13,110, the total number of residential property listings on the MLS® increased 9.9 per cent in March compared to last month and declined 3 per cent from this time last year.

“Conditions favour sellers at the moment, but we’re seeing differences in home-price trends and overall activity depending on the region and property type,” Setticasi said.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5.4 per cent to $615,810 in March 2011 from $584,435 in March 2010.

Sales of detached properties on the MLS® in March 2011 reached 1,795, an increase of 34.4 per cent from the 1,336 detached sales recorded in March 2010, and a 100.1 per cent increase from the 897 units sold in March 2009. The benchmark price for detached properties increased 8.3 per cent from March 2010 to $866,806.

Sales of apartment properties reached 1,622 in March 2011, a 29.6 per cent increase compared to the 1,252 sales in March 2010, and an increase of 66.2 per cent compared to the 976 sales in March 2009. The benchmark price of an apartment property increased 2.1 per cent from March 2010 to $403,885.

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.

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Monday, January 3, 2011

Metro Vancouver property value jumps...

by Vancouver Sun on Mon, Jan, 3, 2011 09:54 PM

Metro Vancouver property value jumps

Market values for residential property in Richmond jumped 17.14 per cent over the past year, largest of any B.C. municipality with a population greater than 5,000, according to B.C. Assessment estimates posted on its website.

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.

Even the winter Olympics, however, couldn't stop residential values in Whistler from sliding an estimated 2.06 per cent.

If a property's assessment goes up, that does not always mean municipal taxes will increase. What typically makes the difference is if an assessment rises or falls beyond the average.

Re/Max Westcoast realtor Anne Marie Kirkpatrick, a lifelong Richmond resident, suggested Monday that the commencement of service of the Canada Line rapid transit route to downtown Vancouver was a factor -- along with the community's ongoing popularity with buyers from Asia.

"That has made some difference -- the transportation," Kirkpatrick said in a phone interview.

"It seems that there is a lot of mainland China buyers and a lot of immigration from Asia, and Richmond seems to be one of their favorite spots. Other than that, it's great place to live. It's close to Vancouver, and the airport is here."

Kirkpatrick said she noticed a jump in demand for property in Richmond that coincided with the opening of the Richmond-Airport-Vancouver transit line.

Lower-priced, "investment"-type condos in the Lansdowne Mall area "were normally lower than similar condos more over in the Brighouse- Richmond Centre area. As soon as that line came in they increased [in price] instantly and it became the hot area.

"I had people say, "Oh, that's where I want to be, I want to use the RAV line."

Kelowna Century 21 realtor Jason Neumann said it's no surprise that Kelowna's assessments remained flat -- barely an average of one per cent, based on the B.C. Assessment estimate of the residential market value.

"The Alberta market has dried up for us," said Neumann, who noted that the number of residential units sold in the central Okanagan are off six per cent so far this year to the end of November compared to last year, from 3,687 to 3,463.

"It's a lot slower than what we're used to. That [the latest assessments] doesn't surprise me in the least."

Neumann said unit sales in the month of November totaled 210, 36 per cent lower than the 326 units sold in November 2009.

He also noted that the average residential price in November was $440,123, compared to $451,311 in November 2009.

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.

Online users can go to www.bcassessment.bc.caand click on the box for "e-valueBC" to see the new figure for their own and neighbouring properties. B.C. Assessment's website will also show the value of sales in the surrounding area in 2010.

For most properties, B.C. Assessment shows the assessed value as of July 1 of the previous year. Their actual value depends on the market at a particular time.

B.C. Assessment appraisers takes into account criteria such as size, age, quality, condition and location of individual properties.

This year's deadline to appeal assessments is Jan. 31. If you don't agree with the assessment, B.C. Assessment encourages you to call or visit their office to try to resolve the matter.

The Crown corporation's office was closed Monday and reopens Tuesday.

While individual property values are now online, further details on regional and provincial statistics and graphs will be coming out Tuesday. That information will include the total value of the provincial assessment roll, year-over-year changes in assessment values in municipalities, and new construction.

Provincially, the assessment roll reached $969 billion in January 2010.

with files from the Victoria Times-Colonist

For all your real estate services, please contact Maria Mak at Sutton Centre Realty at 604-839-6368 or visit my websites www.mariamak.com, www.mariamak.ca, You'll be smiling too!

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Tuesday, October 5, 2010

Housing market factors indicate stability in recent months

by Maria Mak on Tue, Oct, 5, 2010 09:58 PM

Housing market factors indicate stability in recent months

September home sales in Greater Vancouver were consistent with activity experienced in the preceding tow months across most categories.

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,220 in September 2010. This represents a 0.8 per cent increase compared to August 2010 and 37.6 per cent decline from the 3,559 sales in September 2009.

In comparison, last month’s residential sales represent a 40.1 per cent increase over the 1,585 residential sales in September 2008, a 20 per cent decline compared to September 2007’s 2,776 sales, and an 11.9 per cent decline compared to September 2006’s 2,519 sales.

“We’ve seen fewer properties coming on to the market over the last three months. This trend, combined with the continued attraction of low interest rates, is likely having the effect of less downward pressure on home prices,” Jake Moldowan, REBGV president said.

Since spring, housing prices in the region have trended slightly downward, with a decrease of 2.7 per cent compared to the all-time high reached in April when the MLSLink® Housing Price Index (HPI) residential benchmark price was $593,419. The overall benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 5.5 per cent to $577,174 in September 2010 from $547,092 in September 2009. The current price remains consistent with last month, rising just 0.1 per cent between August and September 2010.

Total active property listings posted on the Multiple Listing Service® (MLS®) in Greater Vancouver currently sit at 15,401, basically unchanged compared to last month and a 22 per cent increase from September 2009. Over the last three months, active listings in the region have declined12.3 per cent.

New residential property listings posted in September declined 17.6 per cent to 4,731 compared to September 2009 when 5,746 new units were listed.

“We saw signs of more stability in our marketplace last month than we have seen since spring based on a variety of indicators that we look at each month,” Moldowan said. “At 56 days, it took, on average, three days less to sell a home in our region compared to August. This is the first month-over-month decline we’ve seen in this category since April.”

Sales of detached properties in September 2010 reached 866, a decrease of 39.1 per cent from the 1,423 detached sales recorded in September 2009, and a 58.6 per cent increase from the 546 units sold in September 2008. The benchmark price for detached properties increased 6.7 per cent from September 2009 to $790,992.

Sales of apartment properties reached 971 in September 2010, a decline of 34.7 per cent compared to the 1,489 sales in September 2009, and an increase of 27.1 per cent compared to the 764 sales in September 2008.The benchmark price of an apartment property increased 3.7 per cent from September 2009 to $388,373.

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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Friday, September 3, 2010

Buyer’s market conditions continue in Greater Vancouver

by Maria Mak on Fri, Sep, 3, 2010 10:06 PM

Maria Mak - Vancouver Real Estate Agents-Burnaby Realtors

Buyer's market conditions continue in Greater Vancouver

Conditions in the Greater Vancouver housing market continued to favour buyers in August. Since April, prices have edged down slightly as the number of sales and the number of properties coming on to the market have been declining.

The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,202 in August 2010. This represents a 36 per cent decline from the 3,441 sales in August 2009, the second highest selling August ever recorded, and a 2.4 per cent decline compared to July 2010.

From a wider perspective, last month’s residential sales represent a 40.4 per cent increase over the 1,568 residential sales in August 2008, a 34.9 per cent decline compared to August 2007’s 3,384 sales, and a 26.6 per cent decline compared to August 2006’s 2,998 sales.

New listings for detached, attached and apartment properties declined 17.5 per cent to 3,750 in August 2010 compared to August 2009 when 4,544 new units were listed. Total active listings in Greater Vancouver currently sit at 15,421, a 6.1 per cent decline from last month and a 29 per cent increase from August 2009.

“We’re seeing moderate demand, low interest rates and a healthy but slowing stream of supply in our marketplace, all variables that favour those looking to purchase a home,” Jake Moldowan, REBGV president said. “The last few months have also shown some stability when it comes to price fluctuations in the region, which is a welcome trend after reaching record highs in April.” Since spring, housing prices have decreased 2.8 per cent compared to the all-time high reached in April when the residential benchmark price was $593,419. Over the last 12 months, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver increased 6.9 per cent to $576,597 in August 2010 from $539,600 in August 2009.

“Canada remains an attractive destination for foreign buyers, a fact that continues to affect activity in the Greater Vancouver housing market,” Moldowan said. Sales of detached properties in August 2010 reached 893, a decrease of 34.7 per cent from the 1,367 detached sales recorded in August 2009 and a 66.9 per cent increase from the 535 units sold in August 2008.

The benchmark price for detached properties increased 8.5 per cent from August 2009 to $795,076. Sales of apartment properties reached 935 in August 2010, a decline of 36.1 per cent compared to the 1,464 sales in August 2009 and an increase of 26.4 per cent compared to the 740 sales in August 2008.

The benchmark price of an apartment property increased 4.5 per cent from August 2009 to $385,968. Attached property sales in August 2010 totalled 374, a decline of 38.7 per cent compared to the 610 sales in August 2009 and a 27.6 per cent increase from the 293 attached properties sold in August 2008.

The benchmark price of an attached unit increased 6.6 per cent between August 2009 and 2010 to $489,511.

For all your premium real estate services, please contact Maria Mak and her team at 604-839-6368, You'll be smiling too.

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Tuesday, August 31, 2010

Top 21 grants and rebates for property buyers and owners

by Maria Mak on Tue, Aug, 31, 2010 10:03 PM

Top 21 grants and rebates for property buyers and owners

1. Home Buyers’ Plan

Qualifying home buyers can withdraw up to $25,000 (couples can withdraw up to $50,000) from their RRSPs for a down payment. Home buyers who have repaid their RRSP may be eligible to use the program a second time.
Canada Revenue Agency www.cra.gc.ca. Enter ‘Home Buyers’ Plan’ in the search box. 1.800.959.8287

2. GST Rebate on New Homes

New home buyers can apply for a rebate of the federal portion of the HST (the 5% GST) if the purchase price is less than $350,000. The rebate is up to 36% of the GST to a maximum rebate of $6,300. There is a proportional GST rebate for new homes costing between $350,000 and $450,000.
Canada Revenue Agency
www.cra-arc.gc.ca. Enter ‘RC4028’ in the search box. 1.800.959.8287

3. BC New Housing Rebate (HST)

Buyers of new or substantially renovated homes priced up to $525,000 are eligible for a rebate of 71.43% of the provincial portion (7% of the 12% HST) paid to a maximum rebate of $26,250. Homes priced at $525,000+ are eligible for a flat rebate of $26,250.

http://hst.blog.gov. bc.ca/faqs/new-housing-rebate1.800.959.8287

4. BC New Rental Housing Rebate (HST)

Landlords buying new or substantially renovated homes are eligible for a rebate of 71.43% of the provincial portion of the HST, up to $26,250 per unit.

http://hst.blog.gov.bc.ca/faqs/new-housing-rebate1.800.959.8287

5. Property Transfer Tax (PTT) First Time Home Buyers’ Program

Qualifying first-time buyers may be exempt from paying the PTT of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home priced up to $425,000. There is a proportional exemption for homes priced up to $450,000.

BC Ministry of Small Business and Revenue.www.rev.gov.bc.ca/rpt250.387.0604

6. First-time Home Buyers Tax Credit (HBTC)

This is a non-refundable income tax credit for qualifying buyers of detached, attached, apartment condominiums, mobile homes or shares in a cooperative housing corporation. It’s calculated by multiplying the lowest personal income tax rate for the year (15% in 2009) by $5,000. For 2009, the maximum credit was $750.

Canada Revenue Agency www.cra.gc.ca/hbtc1.800.959.8281

7. BC Home Owner Grant

Reduces school property taxes by up to $570 on properties with an assessed value up to $1,050,000. For 2010, the basic grant is reduced by $5 for each $1,000 of value over $1,050,000, and eliminated on homes assessed at $1,164,000+. An additional grant reduces property tax by a further $275 for a total of $845 for seniors, veterans and the disabled. This is reduced by $5 for each $1,000 of assessed value over $1,050,000 and eliminated on homes assessed at $1,219,000+.

BC Ministry of Small Business and Revenue www.rev.gov.bc.ca/hogor contact your municipal tax office.

8. BC Property Tax Deferment Programs

Property Tax Deferment Program for Seniors. Qualifying home owners aged 55+ may be eligible to defer property taxes.
Financial Hardship Property Tax Deferment Program. Qualifying low-income home owners may be eligible to defer property taxes.
Property Tax Deferment Program for Families with Children. Qualifying low-income home owners who financially support children under age 18 may be eligible to defer property taxes.

BC Ministry of Small Business and Revenue www.sbr.gov.bc.ca and enter ‘Property tax deferment’ in the search box or contact your municipal tax office.

9. Canada Mortgage and Housing (CMHC) Residential Rehabilitation Assistance Program (RRAP) Grants.

This federal program provides financial aid to qualifying low-income home owners to repair substandard housing. Eligible repairs include heating, structural, electrical, plumbing and fire safety. Grants are available for seniors, persons with disabilities, owners of rental properties and for the creation of secondary and garden suites.

www.cmhc-schl.gc.ca/en/co/prfinas/prfinas_001.cfm1.800.668.2642 | 604.873.7408

10. CMHC Mortgage Loan Insurance Premium Refund

Provides home buyers with CMHC mortgage insurance, a 10% premium refund and possible extended amortization without surcharge when buyers purchase an energy efficient home or make energy savings renovations.

www.cmhc.ca/en/co/moloin/moloin_008.cfm#reno604.731.5733

11. LiveSmart BC: Efficiency Incentive Program

Home owners improving the energy efficiency of their homes who hire a certified energy advisor may qualify for cash incentives through this provincial program provided in partnership with Terasen Gas, BC Hydro, and FortisBC.

www.livesmartbc.ca/rebates1.866.430.8765

12. BC Residential Energy Credit

Home owners and residential landlords buying heating fuel receive a BC government point-of-sale rebate on utility bills equal to the provincial component of the HST.

http://hst.blog.gov.bc.ca/faqs/energy-credit604.660.4524

13. BC Hydro Appliance Rebates

Mail-in rebates of $25 – $50 for purchasers of ENERGY STAR clothes washers, refrigerators, dishwashers, or freezers between June 1, 2010 and March 31, 2011, or when funding for the program is exhausted.

www.bchydro.com/rebates_savings/appliance_rebates.html1.800.224.9376

14. BC Hydro Fridge Buy-Back Program (different from Appliance rebates)

This ongoing program rebates BC Hydro customers $30 to turn in spare fridges measuring 10 – 24 cubic feet in working condition.

www.bchydro.com/rebates_savings/fridge_buy_back.html 604.881.4357

15. BC Hydro Windows Rebate Program

Customers can save $100 per window on BC made ENERGY STAR windows until August 18, 2010.

www.bchydro.com/rebates_savings/current_offers.html

16. BC Hydro Mail-in Rebates/Savings Coupons

To save energy, BC Hydro offers rebates including 10% off an ENERGY STAR cordless phone; 50% off an E2™dual-flush toilet; $15 off a clothes drying rack; and 50% off Earth Massage showerheads. Check for deadlines.

http://www.bchydro.com/rebates_savings/coupons.html1.800.224.9376

17. Terasen Gas Rebate program

A range of rebates for home owners include a $25 gift cards for furnace servicing; $50 rebates for upgrading a water heater; $150 rebate on an EnerChoice fireplace; $1,000 rebate for switching to natural gas and installing an ENERGY STAR heating system.

www.terasengas.com/homes/Offers/LowerMainlandSquamish.html1.888.224.2710

18. SolarBC Incentives

Contractors will provide home owners buying a solar hot water system with a $2,000 discount at the point of sale until December 31, 2010.

www.solarbc.ca/learn/incentives-costs 1.866.650.6527

19. City of Vancouver Solar Homes Pilot

Offers $3,500 (about 50% of the cost) towards the cost of a solar hot water system for anyone building new homes in Vancouver. Offered by the City of Vancouver, SolarBC, Terasen Gas and Offsetters to 50 new homes on a first come, first served basis, January 2010 – March 2011, with building permits issued in 2010.

http://vancouver.ca/sustainability/SolarHomes.htm604.873.7748

20. RBC Energy-Saver Mortgage

Home owners who have a home energy efficient audit within 90 days of receiving an RBC Energy Saver™ Mortgage may qualify for a $300 rebate credited to their RBC account.

www.rbcroyalbank.com/products/mortgages/energy-saver-mortgage.html 1.800.769.2511

21. Vancity Green Building Grant

In partnership with the Real Estate Foundation of BC, Vancity provides grants up to $50,000 each to qualifying charities, not-for-profit organizations and co-operatives for building renovations/retrofits, regulatory changes that advance green building development, and education to increase the use of practical green building strategies.

https://www.vancity.com/MyCommunity/NotForProfit/Grants/ActingOnClimateChange
/GreenBuildingGrant
604.877.7000

Source: Real Estate Board of Greater Vancouver, August 2010

For all your premium real estate services, please contact Maria Mak and her team at 604-839-6368 , You'll be smiling too!

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Friday, July 23, 2010

Bank of Canada increases overnight rate target to 3/4 percent

by Maria Mak on Fri, Jul, 23, 2010 10:09 PM

Bank of Canada increases overnight rate target to 3/4 percent

Ottawa - Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent.

The global economic recovery is proceeding but is not yet self-sustaining. Greater emphasis on balance sheet repair by households, banks, and governments in a number of advanced economies is expected to temper the pace of global growth relative to the Bank's outlook in its April Monetary Policy Report (MPR). While the policy response to the European sovereign debt crisis has reduced the risk of an adverse outcome and increased the prospect of sustainable long term growth, it is expected to slow the global recovery over the projection horizon. In the United States, private demand is picking up but remains uneven.

Economic activity in Canada is unfolding largely as expected, led by government and consumer spending. Housing activity is declining markedly from high levels, consistent with the Bank's view that policy stimulus resulted in household expenditures being brought forward into late 2009 and early 2010. While employment growth has resumed, business investment appears to be held back by global uncertainties and has yet to recover from its sharp contraction during the recession.

The Bank expects the economic recovery in Canada to be more gradual than it had projected in its April MPR, with growth of 3.5 per cent in 2010, 2.9 per cent in 2011, and 2.2 per cent in 2012. This revision reflects a slightly weaker profile for global economic growth and more modest consumption growth in Canada. The Bank anticipates that business investment and net exports will make a relatively larger contribution to growth.

Inflation in Canada has been broadly in line with the Bank's April projection. While the Bank now expects the economy to return to full capacity at the end of 2011, two quarters later than had been anticipated in April, the underlying dynamics for inflation are little changed. Both total CPI and core inflation are expected to remain near 2 per cent throughout the projection period. The Bank will look through the transitory effects on inflation of changes to provincial indirect taxes.

Reflecting all of these factors, the Bank has decided to raise the target for the overnight rate to 3/4 per cent. This decision leaves considerable monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.

Given the considerable uncertainty surrounding the outlook, any further reduction of monetary stimulus would have to be weighed carefully against domestic and global economic developments.

Information note:
A full update of the Bank's outlook for the economy and inflation, including risks to the projection, will be published in the MPR on 22 July 2010. The next scheduled date for announcing the overnight rate target is 8 September 2010.

For all your mortgage financing, please contact Maria Mak and her team at Sutton Centre Realty at 604-839-6368 or visit her website www.mariamak.comor www.mariamak.ca, You will be smiling too!

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Maria Mak | 604-839-6368

Home listings continue to rise in Greater Vancouver housing market

Home listings continue to rise in GreaterVancouver housing market

Marihuana Grow Operations - British Columbia

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Marihuana Grow Operations - British Columbia

Greater Vancouver home sales trends toward buyers' market over summer

Active home sellers bring greater selection to the Greater Vancouver housing market

Summer housing market trends toward balance after an active spring season

Maria Mak - Burnaby Realtor - Latest Real Estate News-The Home Buyer's Plan

The Home Buyers' Plan (HBP)

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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

Metro Vancouver property value jumps...

Housing market factors indicate stability in recent months

Buyer’s market conditions continue in Greater Vancouver

Top 21 grants and rebates for property buyers and owners

1. Home Buyers’ Plan

2. GST Rebate on New Homes

3. BC New Housing Rebate (HST)

4. BC New Rental Housing Rebate (HST)

5. Property Transfer Tax (PTT) First Time Home Buyers’ Program

6. First-time Home Buyers Tax Credit (HBTC)

7. BC Home Owner Grant

8. BC Property Tax Deferment Programs

9. Canada Mortgage and Housing (CMHC) Residential Rehabilitation Assistance Program (RRAP) Grants.

10. CMHC Mortgage Loan Insurance Premium Refund

11. LiveSmart BC: Efficiency Incentive Program

12. BC Residential Energy Credit

13. BC Hydro Appliance Rebates

14. BC Hydro Fridge Buy-Back Program (different from Appliance rebates)

15. BC Hydro Windows Rebate Program

16. BC Hydro Mail-in Rebates/Savings Coupons

17. Terasen Gas Rebate program

18. SolarBC Incentives

19. City of Vancouver Solar Homes Pilot

20. RBC Energy-Saver Mortgage

21. Vancity Green Building Grant

Source: Real Estate Board of Greater Vancouver, August 2010

For all your premium real estate services, please contact Maria Mak and her team at 604-839-6368 , You'll be smiling too!

Bank of Canada increases overnight rate target to 3/4 percent

Bank of Canada increases overnight rate target to 3/4 percent

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