October 19, 2010 Leave a comment

Another sunny day, bank of Canada kept the interest rates at 1% which is great news and looking forward to White Sensation in Copenhagen…

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October 18, 2010 Leave a comment

Would like to extend my thanks and regards to lawyers at Lando, especially Robyn Miles for all the legal work done on my deals… Thank you!

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Want to know what is selling and sold in your building every month?

October 16, 2010 Leave a comment

Building Snapshot report

Building Snapshot report

Sign up for a FREE Building Snapshot report. See a demo report here.

Building Snapshot is a FREE monthly report on real estate activity in your condominium building.
It is emailed to you every month, with option to unsubscribe, and it lists all the current active listings for sale and the recent sales for the previous month.

Part of the report is also your unit basic information, such as: assessment, tax info, size, sold price and date, etc, and building statistical data. Building stats data shows the average asking and sold price for all active and sold listings, also average price per square foot for both active and solds. Furthemore, this data is broken down by number of bedrooms.

Future reports will incorporate graphs for both active and sold units for the past 6 months, which will give you a visaul representation of the activity your in building.

Building Snapshot is still in the beta phase and improving daily. It is brought to you by Sanjin Cvetkovic, a Realtor with Century 21 In Town Realty office in downtown Vancouver, and also http://www.vancouver-proeprties.ca.

You can check a demo report here, and also sign up for FREE report here.

Your comments are appreciated and welcome!
If you would like to see some other features in this report please do not hesitate to contact Sanjin Cvetkovic at 604-771-6415 or by email at sanjin.cvetkovic@century21.ca.

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Market Conditions Beginning to Improve

October 15, 2010 Leave a comment

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 36 per cent to 5,511 units in September compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province increased 2 per cent in September from August 2010. The average MLS® residential price climbed 4 per cent to $493,846 in September compared to the same month last year.

“BC home sales increased for the second consecutive month in September,” said Cameron Muir, BCREA Chief Economist. “However, consumer demand is still noticeably lower than last fall’s frenetic pace.”

“Market conditions have improved, with the months of supply declining from 11.1 in June to 8.9 in September,” added Muir. A balanced market typically exhibits five to seven months of supply.

“The current downward pressure on mortgage rates is expected to bolster housing demand this fall as consumers take advantage of a second opportunity to secure near record low interest rates,” noted Muir.

Year-to-date, BC residential sales dollar volume increased 2 per cent to $29.6 billion, compared to the same period last year. Residential unit sales declined 7 per cent to 59,228 year-to-date, while the average MLS® residential price climbed 9 per cent to $500,539 over the same period.

For the complete news release, including detailed statistics, follow this link: www.bcrea.bc.ca/news_room/2010-09.pdf

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Hello world!

October 15, 2010 1 comment

Welcome to WordPress.com. This is your first post. Edit or delete it and start blogging!

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Housing market factors indicate stability in recent months

October 5, 2010 Leave a comment

September home sales in Greater Vancouver were consistent with activity experienced in the preceding two 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.

Download the complete stats package by clicking here.

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Low Mortgage Rates Boost August Home Sales

September 15, 2010 1 comment

The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 35 per cent to 5,590 units in August compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province increased 7 per cent in August from July 2010. The average MLS® residential price climbed 4 per cent to $487,804 in August compared to the same month last year.

“August home sales posted the first month-to-month increase since March of this year,” said Cameron Muir, BCREA Chief Economist. “Lower mortgage interest rates and an improving labour market are inducing additional consumer demand.”

“The number of new residential listings in the province has fallen 30 per cent since April,” added Muir. “With fewer new listings, total active listings are now on the decline, signaling that an end to the buyer’s market may be on the horizon.”

Year-to-date, BC residential sales dollar volume increased 8 per cent to $26.9 billion, compared to the same period last year. Residential unit sales rose 2 per cent to 53,717 year-to-date, while the average MLS® residential price climbed 10 per cent to $501,226 over the same period.

For the complete news release, including detailed statistics, follow this link:
www.bcrea.bc.ca/news_room/2010-08.pdf.

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