Monday Morning Cartoon…
Smile, giggle and get your Monday off to a great start.
Our experience with having Roland Kym as our realtor was a great feeling of ‘trust’. When one has been in the same home for over
25 years, it is a huge decision to move especially when we have been out of the real estate market for so many years. With Roland as our realtor the transition went very smooth. We were at peace of mind knowing Roland was there for our best interest. His method of introducing our home to the real estate market was fabulous on paper and the internet. Even with a few hiccups we had on the way everything was handled very professionally. Not only did Roland sell our home, he is also responsible for finding our present home we now live in. Roland goes above the rest by giving us these wonderful black binders with loads of information that we found very helpful. We do recommend Roland to others who are selling their home or looking to buy.
Thank you Roland for all your help in selling our home.
Mae and Bill Haight
A very unique 1 bedroom at the Omega with open kitchen, large living room and recently renovated. Suite has a 200 SqFt Patio, completely fenced for your privacy,an extension of your living space, perfect for pets, gardening, bbq's or anything else you want to do outdoors. Use the entrance from your patio and this home feels like a townhouse with it's own external door. Very bright and airy unit in an amazing building and located in Fairview, one of the most sought after neighborhoods on the Westside, close to the new Cambie corridor. Steps to the seawall, skytrain, shopping, restaurants and coffee shops.
Bank of Canada Governor Mark Carney held the key overnight interest rate steady at 1 per cent on Wednesday, and lowered growth expectations for 2013 citing global and domestic economic challenges.
Carney said Canada's economy experienced more of a slowdown than expected in the second half of 2012, and going forward "economic activity is expected to be more restrained."
"The Bank now expects the economy to reach full capacity in the second half of 2014, later than anticipated in October," Carney said, reading from the bank's quarterly Monetary Policy Report.
"We'll adjust monetary policy, including guidance, as appropriate in order to meet our (2 per cent) inflation target," Carney told reporters.
The bank's statement said global economic winds continue to buffet the Canadian economy. Growth in the U.S. has been restrained by uncertainty around fiscal cliff negotiations, while Europe remains in recession and economic recovery there appears further off than it did in October.
China's economic growth remains a bright spot, the bank said, though some other major emerging economies are experiencing further slowdowns.
Domestically, the bank said weaker business investment and exports resulted in slower-than-forecast growth in the second half of 2012.
High debt levels -- which Carney has warned Canadians to be wary of in recent months -- also resulted in restrained household spending, the statement said.
The bank expects Canada's economic growth to pick up in 2013, though exports will remain below pre-recession levels until 2014, largely due to faltering international demand and the ongoing strength of the Canadian dollar.
"Business investment and exports are projected to rebound as foreign demand strengthens, uncertainty diminishes and the temporary factors that have weighed on resource sector activity are unwound," the statement said.
The central bank said core inflation in Canada has softened more than expected, sitting at around 1 per cent, where it is expected to remain for the "near term" before rising to the target rate of 2 per cent in the second half of 2014.
In winter driving conditions, it takes all vehicles longer to stop on snow-covered roads. Below, the winter tire and all-season stopping distance comparison graphic is based on stopping in a straight line from a speed of 50 km/h.
The stopping distances of studded tires are comparable to those of winter tires, under most winter conditions. Vehicles equipped with studded tires have a slightly shorter stopping distance on wet ice. On bare pavement the stopping distance of studded tires is longer.
You should not use your cruise control on wet, snowy or icy pavement. If your vehicle skids or hydroplanes, cruise control will causes your vehicle to continue to accelerate, reducing your reaction time and the ability to control your vehicle.
Jagdish & Pooja Ruprell
Prices hold firm as home buyers and sellers conclude 2012 from the sidelines
The Greater Vancouver housing market experienced below average home sale totals, typical home listing activity and modest declines in home prices in 2012.
The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2012 reached 25,032, a 22.7 per cent decline from the 32,387 sales recorded in 2011, and an 18.2 per cent decrease from the 30,595 residential sales in 2010. Last year’s home sale total was 25.7 per cent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.
The number of residential properties listed for sale on the MLS® in Greater Vancouver declined 2 per cent in 2012 to 58,379 compared to the 59,539 properties listed in 2011. Looking back further, last year’s total represents a 0.6 per cent increase compared to the 58,009 residential properties listed in 2010. Last year’s listing total was 6.1 per cent above the ten-year average for annual MLS® property listings in the region.
"For much of 2012 we saw a collective hesitation on the part of buyers and sellers in the Greater Vancouver housing market. This behavior was reflected in lower than average home sale activity and modest fluctuations in home prices,” Eugen Klein, REBGV president said.
Residential property sales in Greater Vancouver totalled 1,142 in December 2012, a decrease of 31.1 per cent from the 1,658 sales recorded in December 2011 and a 32.3 per cent decline compared to November 2012 when 1,686 home sales occurred.
December sales were 38.4 per cent below the 10-year December sales average of 1,855.
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 5.8 per cent to $590,800. This represents a 2.3 per cent decline when compared to this time last year.
“We saw home prices come down a bit during the latter half of the year. During the same period, we saw fewer home sales and listings,” Klein said.
New listings for detached, attached and apartment properties in Greater Vancouver totalled 1,380 in December 2012. This represents a 15.3 per cent decline compared to the 1,629 units listed in December 2011 and a 50 per cent decline compared to November 2012 when 2,758 properties were listed.
Sales of detached properties in December 2012 reached 425, a decrease of 32.5 per cent from the 630 detached sales recorded in December 2011, and a 44.7 per cent decrease from the 769 units sold in December 2010. The benchmark price for detached properties decreased 2.7 per cent from December 2011 to $904,200. Since reaching a peak in May, the benchmark price of a detached property has declined 6.5%.
Sales of apartment properties reached 504 in December 2012, a decline of 34.9 per cent compared to the 774 sales in December 2011, and a decrease of 37.9 per cent compared to the 811 sales in December 2010.The benchmark price of an apartment property decreased 1.9 per cent from December 2011 to $361,200. Since reaching a peak in May, the benchmark price of an apartment property has declined 12.8%.
Attached property sales in December 2012 totalled 213, a decline of 16.1 per cent compared to the 254 sales in December 2011, and a 33.2 per cent decrease from the 319 attached properties sold in December 2010. The benchmark price of an attached unit decreased 2.6 per cent between December 2011 and 2012 to $450,900. Since reaching a peak in April, the benchmark price of an attached property has declined 4.4%.
“Activity continues to vary depending on area so it’s important to work with your REALTOR® and other professionals to understand the trends in your area of interest,” Klein said.
