Posted on
October 23, 2012
by
Leo LeBlanc
It has been an interesting summer - fabulous weather and a softer real estate market that we are used to in British Columbia. There is a correction taking place which is affecting the market. Certain areas that have seen astronomical increases are feeling a bigger percentage drop.
Examples of increases & decreases are as follows:
Area Benchmark Price 5 Year Change 1 Year Change 3 Month Change Burnaby South $1,003,700 37.8% 4.2% -1.0% Richmond $962,900 36.7% -4.2% -3.6% Van. West Side $33.6% 33.6% -6.25% -5.2%
Only 3 areas in the single family home category in the REBGV saw increases in the last 3 months:
Other Stats for September:
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32.5% decline in residential property sales compared to September 2011
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September sales were 41.6 below the 10 year September average
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The major factor is the federal government elimination of availability fo the 30 year amortization on government - insured mortgages
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The total # of residential property listings on the MLS increased 14.1% from this time last year.
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Prices do remain relatively stable overall - with the exception of a few areas.
Benchmark Prices:
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Detached = $935,600 / decrease .5% from September 2011 / (37.9% decrease in number of sales)
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Attached = $458,600 / decrease 2.7% from September 2011 / (33% decrease in number of sales)
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Condo's = $368,000 / decrease of .7% from September 2011 / (26.7% decrease in number of sales)
Now that you know the stats - it is obviously a great time to be a buyer. If you are a seller it is the perfect time to buy a more expensive property (the higher the price the more dollars you save). It is always a good time to buy or sell if it fits in with your personal goals - whether you are moving for your career, to be closer to your family, downsizing or wanting a different kind of property.
Check out this month's Item of Value - "Can you Live Without your Smart Phone or Tablet?"
Posted on
October 20, 2012
by
Leo LeBlanc
I have listed a new property at 2661 FORTRESS DR in Port Coquitlam.
5 Bedroooms up/huge flat fenced lot/incredible views of Colony Farm & beyond! Lovely family home w/great layout. Main level:Lge lvgrm w/valulted ceiling & gas f/p. Diningrm has hutch inset & french drs leading to a grand size deck -perfectfor parties & star gazing! Kitchen: pantry/ ample cupboards & counter space/ eating area w/bay windows flows into the sunken fam rm w/gas f/p & siders to the deck. Bonus den/office & 2pce bath on main. Upper Level: 5 bdrms(5th could be games rm) master has 5 pce ensuite w/soaker tub/separate shower. 2nd bath up is 4pce. Lower: Easily suiteable(220 wiring)2 bdrms, family room. 3pce bath, laundry & sliders onto the patio/lge yard. Enjoy parks/trails/schools/bus & transportation routes close by.
Posted on
October 17, 2012
by
Leo LeBlanc
I have listed a new property at 3435 30TH AVE W in Vancouver.
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