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31Oct
Tags: CREA, MLS, Real estate, Squamish
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31Oct
Vancouver has the hottest real estate market in the country, according to figures released Thursday by the Canadian Real Estate Association.
Quarterly sales increases of 11 per cent in Toronto and 19 per cent in Calgary were topped by a 34-per-cent jump in Vancouver.
It’s the biggest year-over-year increase since early 2002, the association said.
Prices and demand are also on the way up in some sectors of the Vancouver market.
One home up for re-sale on the city’s east side tells the story.
The home — on Prince Edward Street near East 21st Avenue — isn’t officially showing until this weekend, but is already generating strong buyer interest.
It will list for $1.27 million, but three buyers have already offered to pay full-price without having stepped inside the building.
“Nobody’s seen it. I’m very shocked at that [response],” said owner Leland Burridge.
The average price for a home in Greater Vancouver in September was $610,576, according to the B.C. Real Estate Association.
That’s $100,000 — or nearly 20 per cent — higher than the bottom of the market in November 2008, and not far from the highest prices ever.
The Vancouver market peaked in May 2008, when the average home price hit $624,639.
B.C. average price also climbing
“Low interest rates have really had an impact on the marketplace,” said Scott Russell of the Greater Vancouver Real Estate Board.
Some parts of the city have been seeing unprecedented prices, such as the Grandview and Mount Pleasant area in East Vancouver, where prices are six per cent above the 2008 peak.
“We’ve had 36 houses sell for over a million [dollars], and 19 have done that in the last six months,” said realtor Darryl Sjerven.
The average price across the province has also jumped.
The B.C. average price of a home has climbed from its low in November 2008 of $395,687 to $474,169 in September 2009 — an increase of 20 per cent.
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30Oct
$369,000
SOLD. Virescence – Custom End Unit with walk out backyard, 3 bedroom, 3 bath townhouse. Updates include flooring, architectural glass shower door, extra skylight. Easy to show, and within walking distance to trails and shopping. Huge garage workbench.
Tags: CREA, MLS, Real estate, Squamish
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21Oct
On July 23, 2009, the provincial government announced plans to implement a Harmonized Sales Tax (HST). If approved this tax will come into effect July 1, 2010.
How does the HST impact our daily lives? Here’s a link to the province’s website which explains the tax and its impact.
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18Oct
Home market ‘balanced’ despite dip in August
By Bill Mah, Edmonton JournalSeptember 3, 2009Home resales in the Edmonton region slowed in August from a record-breaking pace in June and July, but realtors are still smiling at what they call a “steady and stable” market.
“Although sales numbers cooled a bit after record sales in June and July, we are still experiencing the strength of the market in Edmonton,” said Charlie Ponde, president of the Realtors Association of Edmonton.
Multiple Listing Service figures released by the realtors group Wednesday show residential sales fell to 1,673 sales in August from 2,277 in July.
But compared to a year earlier, sales were up 8.6 per cent — the fourth straight month of year-over-year sales increases.
Edmonton realtor and real estate blogger Sheldon Johnston said the market has a balanced, steady feel– unlike the boom of two years ago.
“Talking to sellers, they don’t feel panicked, and buyers don’t feel like tomorrow they’re going to get it for $50,000 less,” said Johnston, a realtor with Coldwell Banker Johnston and a writer of the Edmonton Real Estate Blog.
Low mortgage rates and prices off their peaks from two years ago have helped fuel activity.
“I was a little surprised that we had the strength in sales that we did,” he said. “But buyers sensed there was improved affordability, and with lower interest rates they were willing to come forward.”
After climbing steadily all year, single-family home prices peaked in July at $372,741 and slipped 1.6 per cent in August to$366,788.
That’s 0.65 per cent, or $2,402, less than a year earlier.
Condo prices also fell slightly–less than one per cent–to$242,035 on average in August compared with $244,265 in July and 3.59 per cent less than the $251,048 in August 2008.
Duplex and row-house properties sold on average for $294,007 in August.
Ponde said the price changes were part of a healthy market.
“Our market is operating normally,” he said.
“There is a balance between buyers’ and sellers’ expectations, and while prices fluctuate seasonally, there are no major price swings. The strong inventory and activity levels result in moderation and stability.”
Homes spent an average of 48 days on the market in August, up two days from July. At the end of August, there were 6,445 residential listings compared to 6,592 a month earlier.
Private-sale real estate company Comfree has also seen business turn around to a “pretty strong summer” after the doldrums of last year, said Travis Holowach, vice-president of sales and marketing.
“Sales have been up, new listings have been up and there’s been a lot of traffic. The banks are lending again, and that definitely helps with first-time homebuyers.”
When the economy nosedived in 2008, consumer confidence also tanked, Holowach said. “When that happens, people tend to go back to what they’re comfortable with, and an agent was that thing.”
According to Comfree’s monthly statistics, also released Wednesday, the average house price in August was just over $380,00 and the average condo price a little under $250,000.
The Calgary and Edmonton real estate markets are both enjoying price stability, said ATB Financial senior economist Todd Hirsch.
“You don’t want more signs that the housing market is still correcting itself, but you also don’t want prices climbing another 60 per cent, leading to all sorts of speculation,” Hirsch said.
“We’re seeing now about six or eight months of pretty stable movement in price. Both buyers and sellers have some opportunities to negotiate.”
Hirsch said the real estate market is being kept in balance by a tug of war between “an economy that’s still pretty weak with natural gas prices that are weak and unemployment rising,” and “really low interest rates and…pretty good incomes.
“Those two things are pulling back and forth on the housing market, keeping it relatively stable.”
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14Oct
Globe and Mail Update and The Associated Press Published on Thursday, Oct. 01, 2009 7:21AM EDT Last updated on Thursday, Oct. 01, 2009 5:41PM EDT
Real estate markets around the world are showing tentative signs of stability and this, in turn, will boost broader economic activity, Bank of Nova Scotia said Thursday.
“Home ownership is a crucial sector of national economies and an important source of wealth for many households, influencing spending, saving and borrowing decisions,” Adrienne Warren, the bank’s senior economist, said in a report on global real estate trends.
“It also has significant spillovers to other domestic industries, including retail sales, finance and insurance, and a range of professional services (legal, engineering) and household services (landscaping, moving, cleaners),” she wrote.
The report came as fresh numbers released Thursday in the United States provided yet more evidence that the U.S. real estate market is healing.
The volume of signed contracts to buy previously occupied homes in the United States rose for the seventh straight month in August as buyers rushed to take advantage of a tax credit for first-time owners that expires at the end of November.
The National Association of Realtors said its seasonally adjusted index of sales agreements rose 6.4 per cent from July to 103.8. It was the highest since March 2007 and 12 per cent above a year ago. Economists surveyed by Thomson Reuters expected the index would rise to 98.6.
Typically there is a one- to two-month lag between a contract and a done deal, so the index is a barometer of future sales. However, new rules for home appraisals and rigid lending standards have scuttled many sales agreements recently.
A separate U.S. government report Thursday showed construction spending rose in August as housing leaped at the fastest pace since 1993.
Scotiabank said it believes the improving sentiment in global real estate markets is sustainable. “The firming in pricing is evidence of growing confidence in the sustainability of the fledgling global economic recovery.”
Historically low borrowing costs, increased affordability and home-buyer tax incentives in a number of countries have underpinned this “modest revival” in housing demand, the bank said.
“Indeed, signs of a bottoming in home prices are likely now bringing some fence-sitters off the sidelines,” Ms. Warren said in her report.
“Real home prices increased in a number of major developed economies in the second quarter of 2009, including Canada, Australia and the United States,” Ms. Warren said.
“Prices were still falling in many other markets, including the U.K., France and Spain, but generally at a slowing rate. For the most part, however, real home prices are still lower relative to a year ago.”
Scotiabank added that, while not as strong as the resale housing revival, new home building in Canada is improving.
“On a trend basis, housing starts are running just over 140,000 annualized units, up from a spring low of around 120,000,” the report said. “Most regions are showing gains, with the largest improvement in Canada’s four western-most provinces.”
Still, Scotiabank cautioned, the recovery will be gradual.
“The rebound in housing activity will be constrained, in part, by a generally more cautious borrow and spend mentality, with weakened household finances leading to a renewed focus on reducing debt and rebuilding savings,” Ms. Warren said.
“Labour market conditions are beginning to stabilize, but unemployment rates remain high and are expected to be slow to decline. A more cautious lending environment is expected to persist as financial institutions around the world recapitalize their balance sheets.”
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12Oct
Honey Lane half duplex, located in Brackendale. Brand new and custom built with Timber accents on exterior set this home apart from others. Bamboo floors, custom kitchen, great in-law suite included in this large 4 bedroom, 4 bath family home.
- $599,000
Map powered by MapPressTags: MLS, Real estate, Squamish
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07Oct
Macdonald Realty, in conjunction with Offsetters Carbon Neutral Society, offers our clients the ability to make all of their real estate transactions Earth friendly. Greenhouse gas emissions are an unfortunate by-product of many of today’s commercial activities. A real estate deal is no exception. Through our partnership with Environment Canada accredited Offsetters, we give you the opportunity to ensure your transaction is ‘Carbon Neutral’.
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03Oct
Highway 99 and Depot
1.36 Acres of highway frontage. This property is very unique. Included is a 2400 sq ft house with a double garage fronting the Sea to Sky Highway. Click here to view more photos.
Perfect for a home based business. Currently leased as a furnished rental. Great investment and holding property. Located north of Squamish, South of Whistler. Zoned RES 2.
- 1700 Depot Road
Map powered by MapPressTags: Commercial, MLS, Real estate, Squamish
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01Oct
Glacier Valley Farms is located 20 minutes from Squamish, turning on the Squamish Valley Rd, from HWY 99. THis property consists of 43 acres with a large 3500 sq ft main house, and a guest house. There is a large barn with, 9 stalls.Swimming pond and amazing views of the Rumbling Glacier, on Mt Tantalus. This is a signiture property in The Upper Squamish Valley. Great for a retreat, with permit application approved for cabins and a conference centre. Call Gena for your personal tour and more information. Click here to view the photo gallery.
Glacier Valley Farms
Tags: CREA, MLS, Real estate, Squamish
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