North Vancouver Real Estate

TURN YOUR HOME ‘GREEN’

November 19, 2008 – 4:40 pm
Eco-friendly. Carbon footprint. Global warming. Energy-efficient. These catch phrases have become part of our lexicon as we’ve become more aware of our impact on the environment and our role in protecting it. As a homeowner, there are some simple, inexpensive steps you can take to make your home energy-efficient. Get started on the road to being “green” with these five tips:   Change Your Light Bulbs By replacing just five incandescent light bulbs with compact fluorescent (CFL) bulbs, you can save $100 per year on electric bills while using up to 75 percent less energy and removing greenhouse gases from the environment.   Buy ENERGY STAR® Appliances ENERGY STAR-qualified appliances, such as refrigerators, washers and air conditioners, meet a higher level of energy efficiency set by the Environmental Protection Agency and U.S. Department of Energy than standard models. According to ENERGY STAR, if just one in 10 homes used ENERGY STAR-qualified appliances, the impact could be ...

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OCTOBER MARKET REPORT

November 6, 2008 – 3:52 pm
residential housing price decline    creates buying opportunities     VANCOUVER, B.C. – November 3, 2008 – Housing price reductions across Greater Vancouver over the last six months have eliminated price gains witnessed in the first quarter of 2008. The Real Estate Board of Greater Vancouver (REBGV) reports that residential benchmark prices, as calculated by the MLSLink Housing Price Index®, declined 8.8 per cent between May and October 2008, resulting in a 3.9 per cent year-to-date price reduction for detached, attached and apartment properties in Greater Vancouver between Octobers 2007 and 2008. In May 2008, the overall residential benchmark price was $568,411, compared to $518,668 in October 2008. "Home sales are not keeping pace with the positive economic conditions in BC," said REBGV president, Dave Watt. "That’s a direct result of a loss of consumer confidence in the overall market. Accordingly, today’s housing market is characterized by moderating home prices and wide selection. It’s definitely a buyer’s ...

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August Market Report

September 19, 2008 – 11:11 am
Summer lull sees properties stay on market VANCOUVER, B.C. – September 3, 2008 – The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 1,568 in August 2008, a decline of 53.7 per cent from the 3,384 sales in August 2007, and a 47.7 per cent reduction from the 2,998 sales recorded in August 2006. New listings for detached, attached and apartment properties declined 1.7 per cent to 4,331 in August 2008 compared to August 2007, when 4,408 new units were listed. “In August, properties on average remained on the market longer than we’ve seen in recent years,” REBGV president, Dave Watt said. “As the market heads into the traditionally more active fall season, we have begun to see property listings recede and prices moderate.” Sales of detached properties declined 58.5 per cent to 535 in August 2008 from the 1,288 detached sales recorded during the same ...

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August 28, 2008 – 12:21 pm
» In order that people may be happy in their work, these three things are needed: They must be fit for it. They must not do too much of it. And they must have a sense of success in it.

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New Law Requires Real Estate Agents to Collect and Verify ID of Buyers and Sellers

August 28, 2008 – 12:16 pm
New federal laws and regulations designed to prevent money laundering and anti-terrorist financing went into effect June 23, 2008. Realtors must obtain proof of identity from all parties in any real estate transaction, even if one of the parties is not represented by a real estate agent. Realtors must also track the source of funds received during the course of a real estate transaction, such as the deposit. If the client is a corporation, corporate documentation and the names of the corporation directors must be provided and the corporation must disclose if a third party is involved in the transaction. "Real estate agents have had legal obligations under the federal government's push to prevent criminal activity and terrorism since 2001, when Canada's first comprehensive laws to combat money laundering and terrorist financing were introduced," says RAHB President, Ann Cosens. “Real estate agents were required to report only suspicious transactions or transactions ...

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Real Estate Fraud - How to identify it and protect your property

August 13, 2008 – 2:45 pm
According to Statistics Canada, "At the end of 2003, individuals and unincorporated businesses held more than $1.6 trillion in residential structures and land– or about one-third of all assets held by individuals." By mid-2005, Canadians owed $617 billion in outstanding residential mortgages. Over the past 15 years, residential mortgage credit has grown by an average of 6.4% per year. That is an enormous amount money–and an enormous opportunity for organized crime and fraud. What is real estate fraud? Real estate fraud is a broad term used to describe the different types of fraud that the real estate industry faces. 1. Mortgage fraud Mortgage fraud most often affects financial institutions that lend money for purchasing property. The most common form of mortgage fraud involves fraudsters acquiring property and then artificially increasing the property’s value through a series of sales and resale transactions between the fraudster and someone in cooperation with them. A mortgage is then ...

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July Market Update

August 6, 2008 – 11:11 am
Month-over-month housing prices retreat from record highs VANCOUVER, B.C. – Aug 5, 2008 – As property listings continue to outpace sales, Greater Vancouver housing prices have drawn back, the last two months, from the record highs experienced in early 2008. Since May 2008, housing prices, as calculated by the MLSLink Housing Price Index®, across each residential category have declined. Detached properties in Greater Vancouver declined 2.3 per cent through June and July 2008, while attached were down 1 per cent and apartment properties 2 per cent over the same period. The overall benchmark price for all residential properties in Greater Vancouver has declined 2.1 per cent since the end of May 2008, from $568,411 to $556,605 in July 2008. “We’re seeing more price reductions in properties listed on the market, which is having a levelling impact on the housing price increases experienced at the end of last year and into ...

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MARKET REPORT FOR JUNE, 2008

August 6, 2008 – 10:51 am
VANCOUVER, B.C. – July 3, 2008 Increased property listings and moderating home prices have eased the Greater Vancouver housing market into a buyer’s phase. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 42.9 per cent in June 2008 to 2,425 from the 4,244 sales recorded in June 2007. New listings for detached, attached and apartment properties increased 18.3 per cent to 6,546 in June 2008 compared to June 2007, when 5,533 new units were listed. “Although housing prices, on a year-over-year comparison, continue to show single-digit percentage increases, we are beginning to see more price reductions in properties listed on the market today,” said REBGV president, Dave Watt. “Homes priced at a competitive level continue to sell quickly, but it is important for people to accurately identify their home’s value when putting it on the market." Sales of detached properties in June 2008 declined ...

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MARKET REPORT UPDATE

June 4, 2008 – 1:13 pm
Growing supply helps stabilize market conditions  VANCOUVER, B.C. – June 3, 2008 – The Greater Vancouver housing market continued its re-balance between sales and listings last month. The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 30.7 per cent in May 2008 to 3,002 from the 4,331 sales recorded in May 2007. New listings for detached, attached and apartment properties increased 20.2 per cent to 7,390 in May 2008 compared to May 2007, when 6,149 new units were listed. “With more property listings and a decline in the number of sales, prices are not increasing as rapidly, now down to single digits overall, which is good news from an affordability standpoint,” said REBGV president, Dave Watt.  “The housing market is at a balanced state, sellers have more competition and buyers have more selection to choose from." Sales of detached properties in May 2008 ...

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May 28, 2008 – 10:05 am
"Never believe that a few caring people can't change the world.  For, indeed, that is all who ever have." Margaret Mead "The answer is in thy heart.  Thee can always hear it, if thee listens for it." Elizabeth George Speare "Gratitude is not only the greatest of virtues, but the parent of all the others." Winston Churchill "Failure isn't in not reaching your goal, but in having no goal to reach." Benjamin Mays

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