Housing Market Conditions Improve on the South Coast

Vancouver, BC – May 15, 2013. The British Columbia Real Estate Association (BCREA) reports that a total of 6,904 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during April, up 1.9 per cent from March on a seasonally adjusted basis, but down 2.2 per cent compared to April 2012. Total sales dollar volume declined 3 per cent to $3.65 billion. The average MLS® residential price in the province was $528,507, down 0.8 per cent from a year ago.

"BC home sales trended higher again in April, with seasonally adjusted unit sales now 8 per cent higher since the beginning of the year," said Cameron Muir, BCREA Chief Economist. "Market conditions were at or near balanced conditions in Victoria, Vancouver, the Fraser Valley and the North last month, leading to a firming up of home prices." The MLS® Home Price Index edged up 0.7 per cent over the past month in the Lower Mainland, and 1.5 per cent over the past three months.

Year-to-date, BC residential sales dollar volume was down 16.6 per cent to $10.8 billion, compared to the same period last year. Residential unit sales dipped 13.9 per cent to 20,476 units, while the average MLS® residential price was down 3.1 per cent at $529,785.
What does this mean for those looking to buy or sell a home??
With the current market heading into a balanced market the prices with trend upwards slightly as there will be more demand for the current inventory. Those looking for great deals will still be able to find them with the current home inventory high. Those looking to sell a home will be able to get a slightly better price for their home as the demand heats up.
If you are looking to know what the current market value of your home is then please call me. I can do your home evaluation quickly and effectivly so you will get the most money from the sale of your home! ... 250.884.3980
PS... Do you know someone who is thinking about buying or selling? Want to earn up to $1000? Call me and I would love to help you earn some extra cash for helping your family or friends find their dream home! 

Summer is just around the corner and it is time to focus on healthy eating, getting out daily for a sweat and enjoy your family and all the joys it brings!
The question most people are asking: How is the real estate market doing?
The market is heating up and that you may have noticed the number of for sale signs that you see popping up on the directional arrows and the lawn signs has risen dramatically.
If you are unsure of the value of your home and would like a free home evaluation, I can help!
GST Rebates!
The FULL gst rebate on the sale of NEW homes applies to homes worth up to $350,000. There is a gradual phasing out of the rebate between $350,000 and $450,000. The Full rebate is $6300 on a $350,000 home. This rebate is = to 36% of the GST paid.
Fit Tips!
The most important tip I can give you is to sweat once or more a day... I don't mean from getting out of the seat. It is important for the body to engage in daily activity which will aid in maintaining a healthy weight.
If you are not sure what to do, do something you enjoy! Walk, jog, swim, hike etc...
If you are like me and are limited due to a disability(ruptured disc), buy yourself a pedometer and track how many steps you are getting each day!
Healthy Recipes!
I am a huge believer in trying new foods and enjoying the flavour of food!
Teriyaki Turkey Meatballs!

  • 1lb extra lean ground turkey
  • 6 green onions, chopped fine
  • 1 lrg Carrot
  • 1 egg, beaten
  • 1/4 cup teriyaki sauce, or sprinkle on(that's what I do, eye it out)
  • 1 cup Bread Crumbs
  • 1/4 cup Sesame Seeds

In Large bowl, combine the ingredients, except the sesame seeds. Blend well. Using 2 ounce scoop or a spoon, form the meatballs.
Place on aluminium foil on a baking pan.
Sprinkle meatballs with sesame seeds.

Roast in oven at 375'F for 20mins.

Enjoy the recipe and if you have any recipes or tips etc...Please email me and I will include it in the next newsletter!
PS.... Any real estate questions?? Send me an email or call me! 250.884.3980

Transition Year Expected for BC Housing Market
BCREA 2013 Second Quarter Housing Forecast

Vancouver, BC – May 9, 2013. The British Columbia Real Estate Association (BCREA) released its 2013 Second Quarter Housing Forecast today.

BC Multiple Listing Service® (MLS®) residential sales are forecast to edge up 1.9 per cent to 68,900 units this year, before increasing a further 6.5 per cent to 73,400 units in 2014. The five-year average is 74,600 unit sales, while the ten-year average is 86,800 unit sales. A record 106,300 MLS® residential sales were recorded in 2005.

"Stricter mortgage credit regulation combined with slower economic growth has kept BC home sales at a cyclical low over the past three quarters," said Cameron Muir, BCREA Chief Economist. "However, a faster growing economy is expected during the second half of the year and through 2014 which will support a growth trend in provincial housing demand."

"The BC average home price forecast is revised upward for 2013, from a decline of 1 per cent to remaining unchanged, as a result of stronger than expected market conditions in Vancouver," added Muir. The average MLS® residential price in BC is forecast at $515,800 this year, before rising 1.7 per cent to $524,500 in 2014.


Depreciation Reports...

These reports look at the current systems and structures of the building and advise on the life expectancy of each.

Who does the report?
The regulations allow almost anyone to produce a report. This will take time to change but it is needed as the person providing the report needs to be qualified and competent.

Go for the Money!
What you will want to look at is to see if there is going to be any Special Levies. When? How Much? There will need to be a minimum of 3 financial plans for the Strata as this is a regulatory requirement. This may show an indication of a Strata Fee increase possibly.

Recommendations/Executive Summary.
What are the important aspects of the plan that you want to look for? The recommendations area of the plan will give you an idea of the issues that may need to be addressed in the near future. This is where you will get an idea of how much money you will possibly need to come up with and timelines for this.

The depreciation report is going to be the gold standard once it is fully phased in. It will be important for you to pay attention to the report so you get an indication of the overall life expectancy of the various systems and when they will need to be replaced and if there will need to be special levies imposed due to a shortfall in funds. 


Greater Victoria Residential Real Estate Transitions to a Balanced Market

May 1, 2013

VICTORIA BC - Weighing in on the best April since 2010, Shelley Mann, President of the Victoria Real Estate Board, is cautiously optimistic that the Greater Victoria is back into a balanced market.

"Consumer confidence is increasing," Mann says. "Our total number of sales for April is 615, a 5% increase compared to April 2012 with 586 sales. On the residential side, more properties are selling, and slightly fewer are entering the market, so we are moving from a buyers' market to more balanced market conditions."

Mann's cautions that one month doesn't indicate a market trend, but is encouraged by increased showings by REALTORS®, the number of sales, and comments from other REALTORS® about multiple offers on properties.

Prices remained relatively flat, as predicted by Cameron Muir, Chief Economist of the BC Real Estate Association. There were 367 single family homes sold in April at a median price of $540,000, a 16% increase of homes sold over April 2012. Condominium sales were 149 at a median price of $265,000 and with 62 townhomes sold at a median price of $415,450. There are 4,585 active listings.

Total Waterfront Single Family Dwellings sold: 15, up 2 over April 2012
Total Non-waterfront Single Family Dwellings sold: 352, up 36 over April 2012
Single Family Dwellings sold over $1 million: 30 (5 over $2 million)


Graphical representation of recent sale counts and average prices

Stats Quick Reference

Tablular representation of sales statistics from the last two months and from last year

Total Single Family All Areas includes Shawnigan Lake/Malahat, Gulf Islands and Up Island
How can you benefit from the market conditions? I provide a FREE home market evaluation which will give you an idea on the price you can realize from the sale of your home...
This evaluation only takes a few minutes and will benefit you! Call me to find out more! 250.884.3980
PS..... Want to earn up to $1000? Let me know if you have a family member or friend who is looking to buy or sell and I will provide professional service to them. This offer expires within 2 weeks!!! 
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.