Remember to recycle it the right way, following is a list of locations and organizations who are going to help you recycle your Christmas tree with ease. & HAPPY NEW YEAR EVERYONE!!!!
Monday, December 31, 2012
Saturday, December 29, 2012
BC property owners receive their annual assessment notice in early January from BC Assessment (BCA).
BC property owners receive their annual assessment notice in early January from BC Assessment (BCA).
This is the valuation on which your property taxes are based. You will receive your local tax notice in June each year. Property owners take note: you have until January 31 of each year to appeal your current assessment.
SOURCE: For this and more information visit www.bcassessment.bc.ca
Thursday, December 27, 2012
Greater Vancouver residential property sale and listing activity below 10-year averages in November
Greater Vancouver residential property sale and listing activity below 10-year averages in November
Over the past six months, the Greater Vancouver housing market has seen a reduction in the number of homes listed for sale, a gradual moderation in home prices and a decrease in property sales compared to historical averages.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,686 on the region’s Multiple Listing Service® (MLS®) in November, a 28.6 per cent decline compared to the 2,360 sales in November 2011 and a 12.7 per cent decline compared to the 1,931 home sales in October 2012.
November sales were 30.3 per cent below the 10-year November sales average of 2,420.
“Home sellers appear more inclined to remove their properties from the market today rather than lower prices to sell their properties. On the other hand, buyers appear to be expecting prices to moderate,” Eugen Klein, REBGV president said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 2,758 in November. This represents a 14.4 per cent decline compared to November 2011 when 3,222 properties were listed for sale on the MLS® and a 36.2 per cent decline compared to the 4,323 new listings in October 2012.
New listings were 12.9 per cent below the 10-year November average of 3,168.
At 15,689, the total number of residential property listings on the MLS® increased 13 per cent from this time last year and declined 9.7 per cent compared to October 2012. Total listings in the region have declined by nearly 3,000 properties since reaching a peak of 18,493 in June.
The region’s sales-to-active-listings ratio was unchanged from October at 11 per cent.“Home prices in Greater Vancouver have generally declined between three and five and a half per cent, depending on property type, since reaching a peak six months ago,” Klein said. “Changes in home prices vary per municipality and neighbourhood. It’s good to check local market statistics with your REALTOR®.”
Since reaching a peak in May of $625,100, the MLS® Home Price Index composite benchmark price for all residential properties in Greater Vancouver has declined 4.5 per cent to $596,900. This represents a 1.7 per cent decline when we compared to this time last year.
Sales of detached properties in Greater Vancouver reached 629 in November, a decrease of 31.3 per cent from the 916 detached sales recorded in November 2011, and a 40.1 per cent decrease from the 1,050 units sold in November 2010. Since reaching a peak in May, the benchmark price for a detached property in Greater Vancouver has declined 5.5 per cent to $914,500.
Sales of apartment properties reached 750 in November 2012, a 25 per cent decrease compared to the 1,000 sales in November 2011, and a decrease of 28.7 per cent compared to the 1,052 sales in November 2010. Since reaching a peak in May, the benchmark price for an apartment property in Greater Vancouver has declined 3.9 per cent to $364,900.
Attached property sales in November 2012 totaled 307, a 30.9 per cent decrease compared to the 444 sales in November 2011, and a 24.6 per cent decrease from the 407 attached properties sold in November 2010. Since reaching a peak in April, the benchmark price for an attached property in Greater Vancouver has declined 3.6 per cent to $454,300.
Wednesday, December 26, 2012
Sold #102 4160 SARDIS Street, Burnaby South, British Columbia
BOXING DAY SALE!
Well my clients did not buy this apartment today. However less than a week ago they bought a great foreclosure sale for a large 1-bedroom apartment in Burnaby in a great complexe.... almost a boxing day steal-of-a-deal!
Call me and let me help you find the perfect investment home for you in 2013.
Saturday, December 22, 2012
DID Know...Realtors come and go.....
The Real Estate is an industry with a high turnover rate (statistics flying around range from between 50 and 70 per cent dropout rate within the first few years). In Vancouver, REALTORS in the industry replaces itself every 5 years, mind you the top 10% remain fairly constant. I have just completed my third calendar year in the business, with over 100 successful transactions to date, I have firmly established myself in the top 10%.
Tuesday, December 18, 2012
DID you know...
New rules reduce the amortization period to 25 years from 30 years, raising monthly payment costs and the amount of income needed to buy a home. As a result, the number of first-time buyers requesting mortgages has declined by 15% over the summer, according to the Mortgage Brokers Association of BC.
Sunday, December 16, 2012
Follow me on Facebook and receive valuable Real Estate information
Follow me on Facebook and receive valuable Real Estate information, market updates, investment spotlights, helpful articles, jokes and access to contests.
All at the same time, while helping us reach our goal of donating 2,500 items of food to the Vancouver Food Bank!
Thank you,
Roland Kym
2011 Medallion Club Member ~ Re/max Executive Club & 100% Club Member
Remax Select Properties
Cell : 604 970-0393
Office: 604-737-8865
Fax : 604-737-8512
Friday, December 14, 2012
Bank of Canada unlikely to change interest rates in 2013: Scotiabank
The Bank of Canada is unlikely to change interest rates in 2013, particularly with inflation so low, according to Scotiabank’s head economist.
“Under the current forecast, we don’t see interest rates in this country changing at all over the next year or so,” said Warren Jestin, chief economist at Scotiabank.
“Inflation is going nowhere fast. We may see some inflation in food prices or other areas but by and large the economy is too soft to generate inflation. There is no cost push in place.”
Jestin’s remarks came at the bank’s annual outlook event, held Wednesday in Toronto.
Scotiabank’s economists and experts offered their forecasts for the Canadian economy, the dollar, and stock markets in 2013 and 2014.
Consumers will benefit if interest rates remain at record lows, though economists are concerned about sky-high levels of household debt.
The global economy faces big challenges from the European sovereign debt crisis and the U.S. fiscal cliff, the slate of automatic spending cuts and tax hikes that will take effect at the end of this year unless lawmakers come up with a better plan.
At the same time, the global economy is changing, Jestin explained.
China’s economy may grow at 7.5 per cent for the next several years, rather than the 10-percent rate that it averaged over the last 25 years.
Growth is also likely to slow in India, Russia and Brazil.
“All these countries are expected to grow at a multiple of what we are going to expect in good years and bad in Canada, the U.S. Europe and Japan,” Jestin said.
China, for instance, is now the biggest automotive market in the world.
“The old paradigm was countries like china were low cost supplies of exports into the North American space. The new paradigm is they are the markets and the market opportunities and that is a very profound change.”
Global growth is likely to come in at about 3 per cent in the coming year, and “an increasing percentage of that growth will come from the emerging world.”
Still, “We’re reasonably optimistic about North America as we go through 2013 and 2014 and for all the challenges that we’re reading about, the opportunities are fairly substantial,” Jestin said.
Among the countries that use the common euro currency, many are in recession, or on the brink, with the exception of Germany.
“We will be talking about Europe as a debt problem five years from now. We will be morphing into different scenarios but the math doesn’t work,” Jestin said. “And if growth isn’t there, it’s not helping the revenue side of the equation.”
Though Canada’s economy has performed very well since the 2008 recession, it will now begin to slow as consumer spending and the housing gear down.
Housing markets in Vancouver and Toronto will see “a bit of a correction,” not a bubble bursting, Jestin said, adding that the economy and households in Canada are in far better shape than in the U.S. prior to the country’s housing bubble.
“We would only be more concerned about the housing market in Canada if we were to see a fracturing of job opportunities and declining employment. The fundamentals there remain pretty solid.”
The U.S. economy is likely to grow at a higher rate than Canada’s in the coming year or two, Jestin said.
The Canadian dollar is likely to remain close to par in the coming year, chief currency strategist Camilla Sutton said.
A soft landing for the Chinese economy, high oil prices, and Canada’s sound fiscal plan will help strengthen the loonie.
On the investing side, stock markets will remain volatile, though the improving U.S. economy should help boost equities, investment strategist Vincent Delisle said.
Tuesday, December 11, 2012
Fixed or variable rate mortgages?? Which do you choose?
The main argument today against going variable is that the usual cost advantage over fixed-rate mortgages has declined to a small fraction of what it once was. Given all the financial uncertainties of today, many borrowers are happy to pay a nominal premium for the certainty of knowing they have locked in payments that would be unaffected if interest rates rise.
Will rates actually rise any time soon? “I just don’t see it, no,” said David Larock, a mortgage broker and ex-banker who recently did some hard thinking about his preference for fixed-rate mortgages in today’s environment.
What he decided was that global economic weakness will keep rates low for years, and that means variable-rate mortgages are still a viable choice. Mr. Larock said he’s able to offer his clients five-year variable-rate mortgages at prime minus 0.4 percentage points, or 2.6 per cent, while banks and some other mortgage brokers are in the range of 2.8 to 2.9 per cent. Five-year fixed-rate mortgages can be had for 2.99 per cent, including discounts.
Historically speaking, today’s spread between fixed and variable rates is a joke. The gap between variable-rate and fixed-rate mortgages in 2010 and 2011 averaged about 1.7 points, the Canadian Association of Accredited Mortgage Professionals said in its recently released annual consumer study. Mr. Larock said variable-rate mortgages have been cheaper than five-year fixed-rate mortgages 90 per cent of the time over the past 25 years.
“There’s always a chance that now might be one of those rare, exceptional times when a fixed rate saves you money, but you’re taking one-in-ten odds that you’re right,” he wrote in a recent blog post.
The big game changer for variable-rate mortgages was a pricing change introduced by the banks a couple of years ago. Where once they offered discounts of as much as 0.75 to 0.9 of a point off prime, the banks began to sell these mortgages at prime plus or minus a bit.
Mr. Larock said the vanished discount is a big reason why people have stopped favouring the variable-rate mortgage. “But if you look at it just in comparison to other options, it’s still the cheapest way to borrow money.”
CAAMP’s consumer study shows that the percentage of mortgages with a fixed rate rose to 65 per cent this year from 60 per cent last year, while variable-rate mortgages fell to 28 per cent from 31 per cent (hybrid mortgages make up the difference).
The move away from variable has been strongest among people buying homes this year; some people have also been converting variable-rate mortgages to a fixed rate, known as locking in.
The variable-rate skeptic will say that interest rates are at absurdly low levels by historical standards, and that rates can move sharply higher and still be in line with historical averages. This view is supported by all the stimulus injected into the global economy by central banks in the past several years. Eventually, it could cause inflation to snap back from today’s moribund levels.
Mr. Larock does see inflation making a comeback, but not any time soon. The bond market certainly isn’t suggesting higher rates.
The yield on the five-year Government of Canada bond, benchmark for fixed five-year mortgage rates, is pretty much where it was 12 months ago and well down from the 12-month high reached in March.
Another angle on this variable-versus-fixed-rate debate is something we’ll call financial uncertainty fatigue. It may just be that people are more open to five years of interest rate certainty than they were before as a result of all the financial and economic ups and downs of recent years.
The premium for mortgage rate certainty is minimal right now, and thus a good buy for many borrowers. But for the cheapest mortgage, go variable.
Sunday, December 9, 2012
Thank you Debbie for the great vote of support and your kind words!
Roland Kym helped me through the purchase of my first home. He began by putting together various reading packages to introduce me to the world of real estate and was able to turn a very overwhelming experience into something much more manageable. By breaking down the process into a few easy steps, he relieved several anxieties and helped me stay focused making the journey a much more enjoyable one. As a first time buyer, I was looking for someone who could hold my hand through the various rollercoaster of emotions associated with purchasing a home, and Roland was that person. He was always available to answer my questions or direct me to the right people when he did not have the answer. I was also always amazed at how flexible and accommodating Roland was to make himself available around my hectic schedule. I felt supported and actively involved throughout the process but most importantly felt that I could trust him as someone who had my best interest at heart and was actively working behind the scenes to ensure that I was properly informed at all times.
His method of marketing and advertising (water bottles, gum packages and candy packages) were unique but quite effective, allowing me to easily introduce him to others. Despite his openness with me as a client, he always maintained an adequate level of professionalism making him not only easy to work with him but also easy to refer him with confidence to all my friends and family.
My experience working with him is that he takes the initiative to ensure an effortless process and thus I would highly recommend him to anyone who is looking to buy or sell a home.
Debbie F.
Friday, December 7, 2012
Open House this Saturday 2pm to 4pm... sexy, large 1bedroom for $374,800
This is a spacious & recently renovated 1 bdrm apartment on the 2nd floor of popular Arbutus Village, with park-styled views. This apartment offers great value in a location that is just a few minutes to public transportation, shops, schools, recreation & so much more. The unit is on the quiet side of the building & features 760+ sf, large storage locker, PRIME shared laundry time slot, new hardwood flooring, a full bathroom reno, new light fixtures, blinds, moulding, paint & rejuvenated kitchen w a new hood range, fridge & refurbished cabinets. Complex amenities include recreation center, indoor & outdoor pool & more. Enjoy this beautiful home, close to shopping, schools, parks & much more
Thursday, December 6, 2012
7360 CORONADO Drive, Burnaby North.... Recently Listed at $309,000
This is an upper unit, bright & spacious, 3 bedroom + den, 2 level townhouse overlooking tranquil greenery, in popular Villa montecito complex. Featming new carpets, paint, trim & doors upstairs with lot of storage, in suite laundry,parking, 2 bathrooms and an open floor plan. Enjoy the community and amenities, including outdoor entertaining areas, outdoor pool, children's play area and just steps of golf courses, schools, shopping, parks and much more!
Wednesday, December 5, 2012
Fast Fact on Vancouver Real Estate
Fast Fact on Vancouver Real Estate
- Of the 15,689 homes currently for sale on the MLS® in Greater Vancouver, 49.6 per cent are listed for $600,000 or less. Of those, 1,321 are detached properties, 5,039 are condominiums and 1,419 are townhomes.
- Of the 1,686 homes that sold in Greater Vancouver in November, 273 (16%) sold for $1 million or more.
Subscribe to:
Posts (Atom)
