(Surrey, BC) – There were 1,435 property sales processed on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) in April, reflecting a 5 per cent decrease compared to the 1,516 sales in April of last year, and a slight increase over the 1,412 sales in March.

In April, the Board added 7 per cent more new listings compared to one year ago, 3,134 in contrast to 2,918 in April 2011, pushing the number of properties for sale in the Fraser Valley to 10,312, the highest level since July 2010.

Scott Olson, President of the Board, says “To put it in perspective, in the last decade, April 2012 ranked second lowest for sales during that month, while new listings came in at the third highest, meaning it’s a good time to be shopping for a home in the Fraser Valley because selection has only been this extensive twice.

“When you combine modest sales with normal, seasonal increases in listings it helps keep house prices in check, which is what we’re seeing. Benchmark prices for all property types remain essentially unchanged from March and for townhomes and apartments, they’re on par with what they were one year ago.”

The benchmark price or value of a ‘typical’ Fraser Valley detached home as determined by the MLS® Home Price Index (MLS®HPI), increased 5.3 per cent in one year. It went from $547,800 in April 2011 to $576,600 last month.

In April, the MLS®HPI benchmark price of a Fraser Valley townhouse was $318,400, an increase of 1.9 per cent compared to $312,600 in 2011. The benchmark price of an apartment increased by 0.8 per cent year-over-year; going from $204,100 in April of last year to $205,800 in April 2012.

Olson adds, “There are a lot of different dynamics to our market right now – all depending on location, property type and price point. For example, some areas are seeing increases in sales and decreases in prices; while others are experiencing the reverse, so if you are thinking of buying or selling ask your REALTOR® to show you how your property type is fairing in the market overall and more importantly in your community.

“In particular, ask about the ratio of sales compared to the number of active listings for your home type. This is one tool we use to help our clients understand if the market for their home is tilted in favour of buyers or sellers or is in balance. Currently, Fraser Valley’s overall market is balanced leaning towards buyers, however each sub-market is different.”

—30 —

The Fraser Valley Real Estate Board is an association of 2,887 real estate professionals who live and work in the BC communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission. The FVREB marked its 90-year anniversary in 2011.

Full package:
http://www.fvreb.bc.ca/statistics/Package%20201204.pdf

(Surrey, BC) – The The Fraser Valley Real Estate Board (FVREB) processed 1,412 sales on its Multiple Listing Service® (MLS®) in March, a decrease of 22 per cent compared to March of last year, however only 13 per cent less than the 10-year average of 1,626 sales for same month.

Scott Olson, president of FVREB, says, “It was quieter than usual for March, but still steady with an increase in demand for more affordable properties, in particular detached homes for less than $500,000 and townhomes.

“Compared to last March, every community in Fraser Valley experienced a decrease in the sales of single family detached homes especially those priced at the higher-end; however Abbotsford, Langley and North Surrey all saw increases in the sale of townhomes.”

Olson adds, “Last year, single family homes represented 63 per cent of our residential market. This March, it dropped to 56 per cent, so we’re seeing demand for more affordable options. This is in contrast to last year when we saw elevated sales of higher-end homes in areas such as North Delta, South Surrey and White Rock.”

In March 2012 in Fraser Valley, the sale of detached homes with a value greater than half a million dollars decreased by 33 per cent compared to last year, explaining why average prices, which can be skewed by the dollar volume of high or low end sales*, are showing decreases year-over-year, while benchmark prices – homes with typical characteristics for the neighbourhood – are showing increases compared to 2011.

The MLS® Home Price Index (MLS® HPI) benchmark price of a detached home in March was $572,700, an increase of 6.8 per cent compared to $536,200 last year. The benchmark price of Fraser Valley townhouses increased by 1.5 per cent in one year, going from $310,300 in March 2011 to $315,000 in March 2012, while the benchmark price of apartments also increased by 1.5 per cent going from $210,600 in March of last year to $204,700 in March 2012.

The number of Fraser Valley properties on the market in March finished at 9,643, an increase of 5 per cent compared to the same month last year although the number of new listings received – 3,066 – represents a 9 per cent decrease compared to March 2011.

The average number of days to sell a detached home was 46 in March 2012, one day faster than last year. It took 49 days on average to sell a townhouse and under two months or 58 days to sell an apartment.

The Fraser Valley Real Estate Board is an association of 2,903 real estate professionals who live and work in the BC communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission. The FVREB marked its 90-year anniversary in 2011.

*For more information about the MLS® Home Price Index and how it compares to average and median prices, visit the FAQs tab atwww.homepriceindex.ca.

Full package:
http://www.fvreb.bc.ca/statistics/Package%20201203.pdf

That may be true. However, there are other factors to consider in your decision to list.For example, will you be buying a new home as well? If so, then the higher selling price will probably be offset by the higher cost of the new property.

In addition, there may be characteristics of your home that will help sell it quickly and for a good price – today – regardless of the market conditions.

A good REALTOR® will help you make the right decision. Call today

One of the most prominent features of any home is the windows. When they are well maintained they have a positive impact on the impression people (such as potential buyers) will have of your property. The opposite occurs, of course, when your windows look old and worn.

So does that mean you should replace your windows? That depends on a number of factors. Window replacement can be an expensive renovation.

Here are a few things to consider before making your decision.

• Do your windows get frost or condensation build-up on the interior side? This could be a sign that the windows are not keeping out the cold as well as they should.

• Do you see water infiltration or mildew on the interior sides of any of the window sills? This means that moisture is creeping in from the outside, and you need to get those windows repaired or replaced as soon as possible.

• If your windows are double-paned – (two panes of glass) – check for any signs of moisture in between the glass panes. Moisture indicates that the thermal seal is broken and at a minimum, the glass will need to be replaced.

• Take a look at your windows from the outside. Is the trim rotted or cracked anywhere? Are there dark spots or any signs of rotting on the wood frames? Repairs or replacement may be required.

• Check the operation of your windows. Do they open and close easily? This is important because some windows, such as those in bedrooms, are often designed to be big enough to use as an exit in case of a fire.

• Finally, are you happy with how your windows look? Do you feel that your property will look significantly better with new windows?

Although they are expensive, replacing windows has a lot of advantages. Depending on the efficiency of your current windows, replacing them could cut your energy costs by 10-20%. In addition, new windows block out more exterior noise, making your home quieter.Want more tips on increasing the value, and enjoyment, of your property? Call today.

Hiring the right home inspector is important. After all, you want
the inspection to leave no stone unturned when determining
the condition of the house you are considering purchasing.

Unfortunately, the professionalism and range of services vary widely in the home inspection industry. So it pays to ask the right questions before you choose. Here are a few suggestions:

“What does your inspection cover?”

A home inspector should be able to present you with a detailed list of what is covered in the inspection. Don’t settle for a vague verbal promise like, “We check everything top to bottom.” Get it in writing.

In addition, you should get an assurance that the inspection complies with all Local and State or
Provincial regulations.

“What are your qualifications?”

As with most professions, experience counts.You want to check how long the inspector has been in the business, and how many homes like yours he has inspected.

Also ask about his credentials.What professional training programs has he completed? Does he belong to a recognized home inspection association?

“Do you also offer to do home repairs or renovations?”

If he does, it’s a conflict of interest.You want an inspector to give you an unbiased report as to the condition of the house, without any expectation of getting some contracting work on the side.

“How long will the inspection take?”

You’ll want to find out if the inspector takes his time and does a thorough job, or rushes things so he can get as many homes done in a day as possible. On average, a typical single family home should take two to three hours to inspect properly.

“May I contact some references?”

Ask for references from people in the neighborhood you are considering. Then, make sure you call them.

“Curb appeal”. You’ve probably heard that term used before. It refers to how valuable and enticing your house looks from the outside, typically from the perspective of a potential buyer “standing on the curb”.

Many people focus on preparing the inside of their house for sale, and neglect preparing the outside.This is a mistake. Studies confirm that curb appeal has a huge influence over how quickly your house will sell, and for how much.

How do you improve curb appeal?

You don’t need to do a major landscaping renovation! In fact, small improvements often make the biggest difference… improvements you can easily do over a weekend.
Here are some suggestions:

• Clean the outside of front windows. Make them sparkle!
• Remove grass,weeds and other unwanted growth between driveway and walkway stones.
• Prune shrubs and trim trees.
• Re-sod bare spots on the lawn.
• Edge the lawn. (A simple task that can have a dramatic visual impact.)
• Water the flowerbed. (Flowers look brighter and more healthy within one hour of watering.)
• Sweep the walkway and driveway. Rake the leaves.
• Remove signs such as “Beware of dog” and “No solicitations”.
• Check the welcome mat. If it’s worn or dirty, replace it.

Also, consider buying some attractive potted flowers to put near the entranceway. They are worth
the investment.

As you can see, it doesn’t take much to boost the curb appeal of your house. Just a little work and a few added details will make a big difference.

Need more ideas for increasing the “sales appeal” of your house? Call 604-764-1380 or use the contact form below.

You see a home on the market that you like. Should you buy it? Before you make an offer, it’s a good idea to get a sense of the property’s long-term potential. After all, a property is not just a potential home, it’s also an important investment.

Here are some things to look for when viewing homes on the market:

Is the area’s average income increasing? The more affluent a neighborhood becomes, the higher the property values.

Are employment opportunities growing nearby? If jobs are leaving the area, housing prices will likely decline.

Are there any nearby housing or community developments that will enhance the quality of life in the area? If a park with a quiet walking trail, or a prestigious golf course, is being built nearby, the value of the neighborhood will increase.

Is the crime rate on the rise or decline? This can have a significant impact on future property values.

Are there public transit lines located nearby? Studies show that housing prices increase in areas where public transit is close and convenient.

Is the property located in a neighborhood dominated by higher priced homes?

Does the property have features that will always be valued by home buyers, such as a large kitchen or spacious backyard.

Are there short-term negatives about the area that will eventually disappear, such as loud construction projects? Once those negatives are gone, house prices will often jump.

Need help finding the right home for you? Call (604)764-1380 or use the contact form below and we’ll get started!

The initial reports about the First Time Buyers Bonus were misunderstood due what the Ministry of Finance call a “Poor choice of words” in the initial press release. It is not a Tax Credit!
The First Time Home Buyer Bonus will be introduced in the legislature and is expected to obtain “Royal Ascent” sometime in May 2012.

Once given Royal Ascent, applicants will apply through the BC Ministry of Finance for the Bonus. The Ministry expects the Application Forms to be ready by June or July.

For further info visit: www.fin.gov.bc.ca or call; 1-877-387-3332

BC Finance Minister, Mr. Kevin Falcon, has announced the reinstatement of the BC PST, to take effect on April 1, 2013 (subject to approval by the BC Legislature). In simple terms, home buyers will continue to pay HST until April 1, 2013 and will be eligible for additional rebates. After April 1, 2013 only 5% GST will apply. For properties under construction at April 1, 2013, specific transitional rules will apply.
Mr. Falcon also announced that the full PST Legislation will be introduced in the legislature this spring, including the transitional rules.

Full information on the B.C. Home Buyers Bonus is below:
2012 First Time Home Buyers Fact Sheet

 

(Surrey, BC) – The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) recorded 1,269 sales in February, an increase of 59 per cent compared to January and a 1 per cent decrease compared to the 1,279 sales during February of last year.

In terms of new listings, the Board received 2,846 in February, an increase of 3 per cent compared to January and a 6 per cent decrease compared to the 3,038 listings received last February, taking the total number of active listings to 9,037, an increase of 4 per cent compared to those available in February 2011.

As Board President Scott Olson explains, a seasonal increase in sales is typical for February; however this increase was not as robust as in years past. February’s sales finished at 4 per cent fewer than the 10-year average for that month.

“Although our market has picked up, it’s still favouring buyers. In terms of our clients, we’re seeing more caution and deliberation when house hunting.

“This could mean using a home inspection as part of negotiations, or asking for extras to be thrown in, or the client walking away if terms are not met. The other side is that selection at certain price points is limited depending on location, so if the buyer finds the right home, they act, which is keeping prices stable.”

The MLS® HPI benchmark price of a ‘typical’ detached home in Fraser Valley in February was, $569,200, an increase of 8.3 per cent compared to $525,400 last year. The benchmark price of Fraser Valley townhouses increased by 2.0 per cent in one year, going from $305,700 in February 2011 to $311,900 in February 2012, while the benchmark price of apartments increased by 0.6 per cent going from $200,200 in February of last year to $201,500 in February 2012.

Olson adds, “We anticipate the new HST transition rules will generate more buying activity of new homes over the coming months and will have a spill-over effect on the resale market. The majority of new homes in the Fraser Valley fall under the new $850,000 HST rebate threshold and first-time buyers will be taking advantage of the refundable tax credit bonus of up to $10,000 available until March 31, 2013.

“These changes will improve accessibility in the Fraser Valley, a region already recognized for its affordability.”

–30 –

The Fraser Valley Real Estate Board is an association of 2,898 real estate professionals who live and work in the BC communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission. The FVREB marked its 90-year anniversary in 2011.

Full package:

http://www.fvreb.bc.ca/statistics/Package%20201202.pdf

1. A $10,000 temporary, one-time refundable income tax credit for first-time home buyers who purchase a newly constructed home, effective today, February 21, 2012 through to March 31, 2013.

Details are available here:http://www.bcbudget.gov.bc.ca/2012/homebuyers/2012_First_Time_Home_Buyers_Fact_Sheet.pdf

2. A $1,000 Seniors’ Home Renovation Tax Credit, a refundable personal income tax credit for the cost of permanent renovations that provide individuals age 65 and over with increased independence. This is an annual $1,000 credit based on 10% of eligible expenditures.

Details are available here:http://www.bcbudget.gov.bc.ca/2012/backgrounders/2012_Backgrounder_2.pdf

Combined with the HST-to-PST transition rules and HST tax-relief measures announced last week for new homes, this should help to stimulate the new-homes industry throughout BC. However, the budget did not include measures to mitigate the HST impact on home renovations.

(Surrey, BC) – The Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) processed 799 sales in January, a decrease of 4 per cent compared to the 834 sales in January last year and 10 per cent fewer than were processed in December. In the last decade, January 2012 was second only to 2009 for lowest volume.

On the flip side, compared to other starts during the last 10 years, the Board received one of its highest influxes of new listings for January – 2,753 – 5 per cent more than January 2011 and 143 per cent more than December the month before. The increase in new inventory raised the volume of active properties in Fraser Valley to 8,320 by the end of January.

Sukh Sidhu is the Board’s president. “For spring house hunters this is great news. For buying power you can’t beat the combination of greater selection, the continuation of extremely low interest rates and stable prices.”

The Board’s new MLS® Home Price Index (MLS® HPI), launched today, reveals that residential home prices in Fraser Valley have decreased gradually over the last six months, while still showing increases year-over-year.

In January, the benchmark price of a detached home in the Fraser Valley was $567,700, an increase of 7.6 per cent compared to $527,500 in January 2011 and an increase of 0.1 per cent compared to December.

For townhouses, the benchmark price in January was $314,200, an increase of 2.4 per cent compared to the same month last year when it was $306,800 and down 1.1 per cent compared to December. The benchmark price of apartments in January was $199,600, a decrease of 0.1 per cent compared to January 2011 when it was $199,800 and an increase of 0.3 per cent compared to December.

The MLS® Home Price Index (HPI), replacing the Lower Mainland’s MLSLink® Housing Price Index, is a new measure of price for residential properties in five major markets across Canada. It includes Greater Vancouver, Fraser Valley, Calgary, Toronto, and Montreal, with more markets to be added. It was pioneered by six founding partners: the real estate boards of Calgary, Fraser Valley, Greater Montreal, Greater Vancouver, and Greater Toronto and the Canadian Real Estate Association.

Sukh Sidhu says the new MLS® HPI will be very helpful to REALTORS® in guiding homeowners. “It’s a bigger, better tool to measure the change in home prices in the Fraser Valley and now we can more accurately compare our market to other major cities in Canada.” Learn more atwww.homepriceindex.ca.

The Fraser Valley Real Estate Board is an association of 2,894 real estate professionals who live and work in the BC communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission. The FVREB marked its 90-year anniversary in 2011.

Full package:
http://www.fvreb.bc.ca/statistics/Package%20201201.pdf

SURREY, BC – According to the president of the Fraser Valley Real Estate Board (FVREB), international affordability studies regarding Vancouver are misleading because they don’t reflect the reality that homebuyers purchase more affordable homes every day in neighbouring communities.

Sukh Sidhu is a REALTOR® who lives and works in Abbotsford. “So far this month, over 50 homebuyers in the Fraser Valley have purchased a condo for $199,000 or less and over 100 families are now proud owners of townhomes valued at $399,000 or less.

“About one-third of our buyers are first-timers and two-thirds are using equity from an existing home to either buy up or down size and they’re thrilled with the value and benefits home ownership provides.”

According to a recent Demographia International Housing Affordability Survey, Vancouver ranks the second most unaffordable major housing market in the world based on median household income and a median home price of $678,000.

Based on January sales to date, the median home price in Fraser Valley is $405,000. Sidhu says, “To buy that home, you would need about $80,000 as a household income, however to buy a typical condo or townhome in Surrey or Abbotsford for example, you need less than $60,000 as a household income.

“We’re not suggesting that affordability isn’t an issue in Greater Vancouver. In fact, REALTORS® in BC are amongst the most active proponents of strategies to make home ownership more accessible. What we are saying is that these broad, general studies don’t reflect what’s really happening within the local housing market.”

The FVREB is scheduled to release its final January month-end sales statistics from its Multiple Listing Service® during the first week of February.

2011 REAL ESTATE MARKET SHOWCASES REGIONAL VARIATION

(Surrey, BC) – Overall, Fraser Valley’s real estate market in 2011 was below the 10-year average in property sales and above average in the number of new listings received, however, according to the president of the Fraser Valley Real Estate Board, results varied widely depending on the community and property type.

Sukh Sidhu observes, “I can’t remember a year that illustrates better how local real estate is and the importance of talking to your REALTOR® before making a decision to buy or sell. For example, in my community of Abbotsford, sales of single family homes dropped by almost 7 per cent compared to 2010, pushing prices down slightly, while in South Surrey/White Rock sales increased year over year by 45 per cent resulting in double-digit price increases.”

The Board’s Multiple Listing Service® processed 15,529 sales in 2011 compared to 14,891 the previous year, an increase of 4 per cent, while the number of new listings remained about the same – 31,592 in 2011 compared to 31,437 in 2010. Over the year, the number of active listings for buyers to choose from dropped by 9 per cent going from 8,139 properties in December 2010 to 7,399 in December 2011.

Although 2011 ranks the third slowest year for sales in Fraser Valley since 2002, it was only 10 per cent less than the 10-year average of 17,210 sales. The volume of new listings received in 2011 was 6 per cent more than the 10-year average of 29,867 new listings, placing last year third in ranking since 2002.

Sidhu adds, “One trend from 2011 that is clear was the preference for single family homes. For the most part in our region, both sales and prices of townhomes and condos either stayed on par with 2010 or decreased.”

In December, the benchmark price of a detached home in the Fraser Valley was $522,998, an increase of 3.3 per cent compared to $506,145 in December 2010 and a decrease of 1.7 per cent compared to November.

For townhouses, the benchmark price in December was $315,330, a decrease of 2.1 per cent compared to the same month last year when it was $322,054 and down 3.8 per cent compared to November. The benchmark price of apartments in December was $237,285, a decrease of 1.2 per cent compared to December 2010 and a decrease of 0.5 per cent compared to November.

Average prices year over year show detached homes up 9.1 per cent – $610,269 in 2011 compared to $559,456 in 2010. The average price of townhomes increased by 2.6 per cent, going from $336,484 in 2010 to $345,138 in 2011 and the average price of apartments increased by 0.9 per cent going from $223,910 in 2010 to $225,976 in 2011.

The Fraser Valley Real Estate Board is an association of 2,893 real estate professionals who live and work in the BC communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission. The FVREB marked its 90-year anniversary in 2011.

Full statistic package: CLICK HERE

Balanced conditions set to return to most Canadian housing markets in 2012, while residential values expected to set new records

If your home will be for sale this winter, it is important to master certain seasonal issues that are less significant or even non-existent at other times of the year. Here are 10 bits of sage advice from RE/MAX agents that can help put a “Sold” sticker on that yard sign.

Let Those Lights Shine: The best way to combat winter’s short and frequently cloudy days is to turn on your house lights. For a showing, every single light in the house must be on, even in the closets and utility/mechanical rooms, according to Marlene Granacki of RE/MAX Exclusive Properties, Chicago.

“Make sure all the bulbs are working, and stock up on all the right bulbs for lamps and fixtures so burned out bulbs can be replaced immediately,” she advises. “Also, it’s a great idea to keep the lights on in the front of the house even if no showings are scheduled. People are always driving past the house, and keeping it lighted makes it look happy and welcoming.”

She also advises opening the drapes and blinds during the day to let in light and let visitors enjoy the view.
Provide Convenient Parking: It’s vital that buyers have a convenient place to park. They won’t want to walk very far in cold weather or be forced to climb over a snow bank to exit their vehicle. Because parking is often more restricted around condominiums, sellers should make sure their agent can pass along parking details to buyers.

Make It Easy to Enter: Winter showings can get off to an awkward start if prospective buyers arrive with snow or salt on their shoes.

“Make it easy for buyers to deal with their shoes when they arrive,” recommends Barbara Hibnick of RE/MAX Showcase, Long Grove, Ill. “Put a festive area rug at the front door for a great first impression and so visitors can wipe their feet. Have slippers or disposable booties available, along with a bench or chair, if there is room for one, where a visitor can sit and easily remove or put on their boots.”

Keep Odors Under Control: Any home tends to be stuffy in winter when windows are opened rarely. That can allow odors to build up, which can be a turn-off to buyers.

“Pet odors can be especially worrisome in winter,” says Mike Mondello of RE/MAX Synergy in Orland Park, Ill. “Use a room fragrance if needed, but nothing too strong, and I recommend that in winter sellers clean more often.” For example, change the cat litter daily, rather than every third or fourth day, or even consider using an air purifier.
If pets are in the house, consider setting the thermostat control so that the furnace fan runs constantly during the day to keep air moving through the house and dissipate odors. Also try to avoid strong cooking odors, especially if a showing is scheduled that day.

Cultivate a Festive Look: Appropriate decorations for Thanksgiving, Christmas and even St. Valentine’s Day help give a home a cheerful look during the winter months.

“I really believe that holiday decorations can help homes sell, but don’t go to excess,” suggests Starr Zook of RE/MAX On Track in Aledo, Ill. “Keeping small, decorative white lights on trees and bushes pretty much through the winter season is fine, but other decorations should be taken down quickly once the holiday passes.”
Don’t Ignore the Outdoors: Make a good first impression on buyers with a neatly maintained yard. Walks and steps should be kept clear, especially of snow and ice.

Look after Condo Common Areas: If the home you are selling is a condominium, your job as a seller may be relatively easy in winter, with no snow to shovel or yard work to worry about. However, that is only the case if your condominium association does its job well.

If the association isn’t doing it, the homeowner may have to take responsibility for keeping the entrance area and hallways clean. If the association isn’t getting snow shoveled promptly, consider buying some de-icing salt and sprinkling it judiciously around the building entry.

Don’t Roast Buyers: We all tend to prefer a specific temperature for our homes during the winter, but don’t blast buyers with hot air. Keep the temperature at a comfortable 65 degrees for all showings. Remember, buyers are likely to be wearing their coats even as they walk through the house.

Keep Seasonal Clothing under Control: “One major challenge of selling a home during the winter months is the overabundance of cold weather gear that must be stored,” says Mike Mondello. “A buyer doesn’t want to find the mudroom filled with boots or the hall closet overflowing with heavy coats. Shift some winter coats to another closet and put anything not needed in the closet into storage.”

To keep gloves and scarves from piling up in the front hall or mudroom, put a special container for them, such as a decorative chest, where the family typically enters the home.
Encourage Day Time Showings: A home shows to its best advantage during daylight hours, which are relatively scarce in winter.

“Encourage your agent to show your home before 3 p.m. and have it ready to show by 9 a.m. if you want the best results,” Granacki recommends.

Despite the special challenges of marketing a home during winter, there also are benefits, notes Laura Ortoleva, a spokesperson for the RE/MAX Northern Illinois real estate network.

“Buyers out looking at homes in December or January are, as a group, quite serious about buying. Therefore, sellers tend to benefit because each showing is more productive, and fewer showings are needed to sell the property,” she said.

(Surrey, BC) – The November property sales in the Fraser Valley are up slightly compared to last year and didn’t experience the usual month-over-month seasonal decline.

The Fraser Valley Real Estate Board processed 1,120 sales in November on its Multiple Listing Service® (MLS®), an increase of 3 per cent compared to the 1,084 sales during the same month last year and a decrease of 2 per cent compared to 1,139 sales in October. In the last decade, sales decreased on average 9 per cent from October to November.

Board president, Sukh Sidhu says, “Given the time of year, Fraser Valley is experiencing steady buying activity with notable month-over-month increases in the sale of homes with an attractive price point.

“For example, townhome sales in central Surrey increased by 20 per cent in one month and in Langley by 43 per cent.” Sidhu adds, “Fraser Valley offers buyers the key value of affordability. Currently, over half of our townhomes and condos are listed for $289,000 or less.”

While sales remained stable, MLS® inventory decreased from October to November, typical for the time of year. The board posted 1,926 new properties in November, an increase of 9 per cent compared to November of last year and a decrease of 23 per cent compared to October. November finished with 9,471 active listings in the Fraser Valley, 5 per cent more than the same month last year and 5 per cent less than October’s 10,005 listings.

Sidhu says, “Even with fewer listings coming on stream, buyers can still take advantage of almost nine months of inventory, which is putting downward pressure on prices in certain areas and property types.” Prices for a typical Fraser Valley apartment are down year-over-year and month-over-month, while both single family detached and townhomes are still showing positive price gains compared to November last year and remain stable compared to October.

In November, the benchmark price of a detached home in the Fraser Valley was $532,086, an increase of 5.4 per cent compared to $504,848 in November 2010 and an increase of 0.3 per cent compared to October.

For townhouses, the benchmark price in November was $327,764, an increase of 2.5 per cent compared to the same month last year when it was $319,623 and up 0.7 per cent compared to October. The benchmark price of apartments in November was $238,461, a decrease of 1.6 per cent compared to November 2010 and a decrease of 2.2 per cent compared to October.

The Fraser Valley Real Estate Board is an association of 2,897 real estate professionals who live and work in the BC communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission. The FVREB marks its 90-year anniversary this year.

Full package:
http://fvreb.bc.ca/statistics/Package%20201111.pdf

Below you’ll find details about the event.

SPACE IS LIMITED, so please RSVP as soon as possible to reserve your spot!

(Surrey, BC) – Below average home sales combined with a regular influx of new listings continue to give buyers the upper hand in communities south of the Fraser River, including Mission. However, according to the president of the Fraser Valley Real Estate Board, Sukh Sidhu, “There is action when the property is competitively priced.

“It is not a quiet market. Priced-right properties are selling thanks to the continuation of low interest rates.” Sidhu adds, “What’s happening is that there is a large amount of inventory available in the Fraser Valley, in particular with condos and townhomes, and that’s what’s holding prices in check.”

The Fraser Valley Real Estate Board processed 1,139 sales in October on its Multiple Listing Service® (MLS®), an increase of 12 per cent compared to the 1,014 sales during the same month last year and a decrease of 2 per cent compared to 1,165 sales in September.

In terms of listings, the board posted 2,511 new properties in October, an increase of 18 per cent compared to October of last year and a decrease of 5 per cent compared to September. The number of active listings in the Fraser Valley dipped in October, going from 10,096 in September to 10,005.

Sidhu says, “The good news for sellers is that although inventory is high, it’s not near record highs and sales remain steady. This is why the overall benchmark price for residential properties has remained unchanged for six months.”

The benchmark price (the price of homes with characteristics typical to that area) of a single family detached home in the Fraser Valley in October was $530,335, an increase of 4.9 per cent compared to $505,759 in October 2010 and on par with the price in September.

For townhouses, the benchmark price in October was $325,482, an increase of 2 per cent compared to the same month last year when it was $319,058 and down 0.6 per cent compared to September. The benchmark price of apartments in October was $243,725, an increase of 1.3 per cent compared to October 2010 and on par with the price in September.

The average number of days to sell a Fraser Valley home varies depending on the property type. Sidhu says the average of 45 days to sell a single family detached home has been constant for three months. In October, townhomes took on average 55 days to sell and apartments 75 days.

TO DOWNLOAD THE FULL STATISTICS PACKAGE, CLICK HERE.

MORE LISTINGS, FEWER SALES KEEPING LID ON HOME PRICES IN THE FRASER VALLEY
(Surrey, BC) – Property sales on the Fraser Valley Real Estate Board’s Multiple Listing Service® (MLS®) in September were the third lowest for that month in the last decade, while new listings for September ranked the second highest.

Sukh Sidhu is FVREB’s president. “This is the third month in a row based on the 10-year average where we’ve seen lower sales combined with a higher influx of new listings.”

The Fraser Valley Real Estate Board processed 1,165 sales in September, an increase of 12 per cent compared to the 1,044 sales during the same month last year and a decrease of 13 per cent compared to 1,341 sales in August.

The board posted 2,651 new properties on its MLS® in September, an increase of 10 per cent compared to September of last year and on par with the listings it received in August. The number of active listings in the Fraser Valley remained at 10,096 in September, at an annual high for the last three months.

Sidhu adds, “This trend is stabilizing home prices in the Fraser Valley resulting in the price of a typical detached home in September being only slightly higher than it was in May.

“Although average prices year-over-year are still showing strong increases or decreases for some communities, make sure to ask your local REALTOR® for the benchmark price as well. It’s the predicted sale price of a typical home in your neighbourhood and unlike the average price, isn’t sensitive to sales of high-end or low-end homes. It’s one of our most reliable pricing tools.”

The benchmark price of a single family detached home in the Fraser Valley in September was $530,321, an increase of 4.5 per cent compared to $507,429 in September 2010 and 0.3 per cent higher than the price in August.

For townhouses, the benchmark price in September was $327,546, an increase of 1.8 per cent compared to the same month last year and unchanged with the price in August. The benchmark price of apartments in September was $243,420, an increase of 1.6 per cent compared to September 2010 and down 0.9 per cent compared to August.

TO DOWNLOAD FULL STATISTIC PACKAGE, CLICK HERE.

Bad news alert: it might cost you a little time, effort and cash.  The good news, though, is that the best projects for quickly increasing your home’s resale value tend to be cosmetic and fairly simple and inexpensive to do. Here are five projects with big-time return on investment for home sellers-to-be, in terms of their power to attract buyers, and to attract dollars from those buyers.

1. Painting: Adding a fresh coat of paint to ceilings and walls is a tried and true way to increase your home’s appeal to buyers. Go for white or neutral tones that help lighten your rooms. (Now is not the time to show off your fascination with fuschia and lime green.) Buyers will have an easier time envisioning how they will infuse their own personalities into your home if they’re looking at a relatively blank slate.

Painting lightens and brightens rooms, instantly removes scuffs and dings and gives every room a fresh, polished feel.

Fresh exterior paint – even if your time or cash budget limits your efforts to accents like eaves, shutters, doors and trims – is also a quick, inexpensive way to polish the look of your home from the curb.

2. Landscaping: Everything you’ve heard about curb appeal is true. First impressions matter – especially if your house is one of eight or nine a buyer has seen in one day. Buyers will be more excited to look at the inside your home if the outside looks clean, charming and inviting. Mow the lawn, trim the hedges, pull the weeds and plant some flowers, bushes or shrubs for the biggest impact – and be diligent about keeping your landscaping very well-manicured throughout the time your home is on the market.

Be sure to keep it low-key, relatively low maintenance and neutral, though. This is not the time to indulge your personal fantasies of living in an exotic paradise, unless that matches the existing look and feel of your home, nor is it the time to install a time-intensive English garden that buyers will love, but not want to take on. Think clean, simple and elegant for the biggest boost in value.

3. Cleaning and de-cluttering: Start by removing all your family photos from the walls and all sorts of tchochkes and clutter from the tops of tables, desks, dressers and counters. Buyers want to be able to envision their lives in the house, not yours. Personal items – and the visual clutter they create – have been shown time and time again to block buyers’ ability to create this vision.

Also, remember that buyers are coming to see the house and evaluate its space, not to bear witness to all the fabulous furniture that means so much to you (no matter how amazing your personal taste). Remove furniture that takes up too much space and fills up rooms. Get rid of clutter such as clothes, boxes, piles of mail and other items.

And then clean – and keep cleaning obsessively, the entire time your place is on the market. Kitchens, bathrooms and bedrooms should look unlived in when they are shown.  And don’t forget to clean less obvious places like windows, walls, doors and  and floors, to dust off shelves and furniture, and to polish appliances.

4. Plumbing repairs and water stain/damage repair: Paying a plumber to make a few stops throughout your home can be well worth the investment. Leaky faucet in the master bathroom? Get it fixed. Does the space under your kitchen sink look like a science experiment? Leaks and water stains definitely provoke disgust and exasperation on the part of the buyers you want and need to impress.  And they can be pretty cost effective to fix – ask your agent for a referral, if you need one.

5. Staging: Staging your home can make a dramatic difference in the price for which your home sells. Good staging is equal parts:

(a)    removing your personal belongings and replacing it with more  artwork, decor and cleaner-looking furniture,

(b)    and tweaking the home’s paint, wall coverings and even landscaping to show the place in its very best light.

When done well, staging can convert your home from just another listing on a buyer’s list to the setting for a fresh, new start to the fresh, new life of their dreams. Professional stagers, in particular, have special skills and materials they use, from convincing you to get rid of a bunch of things you value (but read: junk to a buyer), to  items like mirrors, plants, art work, lamps, pillows and even furniture that tells a visual story of the life buyers can fantasize about living in your home.

Talk to your agent about staging – some agents have the skill to do this on their own, while others might have a professional stager they frequently work with.

In some cases, you might want to take on even larger projects. Before you go that route, talk with a local real estate agent; they are well-positioned to know what sort of updates and features will make the most impact on local buyers. Not all major, non-cosmetic upgrades to your home will create a significant difference in the price it commands, so take advantage of your agent’s expertise as you make decisions about which property preparation investments to make (and which to forego).

(Surrey, BC) – The Fraser Valley Real Estate Board processed 1,341 sales on the Multiple Listing Service® (MLS®) in August, an increase of 35 per cent compared to the 997 sales during the same month last year and slightly higher than the 1,322 sales in July.

Sukh Sidhu, president of the Fraser Valley Real Estate Board, says, “We typically see a summer dip in sales in August compared to July and that didn’t happen this year. We attribute the current steady market to interest rates remaining favourable, as well as buyers taking advantage of home prices softening slightly in certain markets and an influx of new inventory across all property types.”

The board posted 2,644 new properties on its MLS® in August, an increase of 26 per cent compared to August of last year and 10 per cent fewer than it received in July. The number of active listings in the Fraser Valley remained at 10,074 in August, on par with July’s volume.

“The number of homes on the market remains at a yearly high, which combined with a decrease in sales, can put downward pressure on pricing. We’re only seeing this in some communities for certain property types underlining the importance for both sellers and buyers to obtain local real estate expertise.

“Year over year, home prices in the Fraser Valley are either on par or showing increases; month over month, benchmark prices for the three main residential property types combined declined by 1.3 per cent.”

The benchmark price of a single family detached house in the Fraser Valley in August was $528,959, an increase of 3.7 per cent compared to $510,107 in August 2010.

For townhouses, the benchmark price in August was $327,317, an increase of 0.9 per cent compared to $324,485 during the same month last year. The benchmark price of apartments in Fraser Valley in August was $245,751, an increase of 2.5 per cent compared to $239,659 in August 2010.

CLICK HERE to get the full statistic package

Whether your home was built in the last year, or the last millennium, there are things you can do to enhance its space. Before you get started, it’s important to ask yourself what a redecorating or home improvement project will do to enhance the space in your home. Even if you’re not thinking of selling today, you may consider it in the future. Making decisions now to enhance the space in your home will pay off in a big way when you eventually do sell.

Moving is very stressful for a family, That stress is also experienced by the pets. They want to know that they’re part of the family and that they’ll be going, too.

Sadly, many pets will not be going with their families to new homes. According to research published in 1999 by the National Council on Pet Population Study and Policy, moving is identified as the most common of 71 reasons for relinquishing dogs and the third most common reason for relinquishing cats to shelters. In addition, when citing moving as the reason for giving up their pets, 38.8 percent of dog owners and 38.1 percent of cat owners cited the refusal of a landlord to allow the animal in an apartment or house.

But for most people, leaving their companion animals behind is out of the question. With the proper preparation, you can ensure that your next move will go more smoothly, for you and your pets.

Before the Move

Moving with a companion animal usually means moving with a cat or dog. While these animals may react similarly to changes within the home, cats and dogs will, for the most part, respond to a family relocation with different behaviors.

“We tend to socialize our dogs a lot more,” says Jacque Lynn Schultz, director of special projects for ASPCA Animal Sciences. “We take them more places and often stay overnight with them. We don’t do that with our cats.”

In general, cats are more focused on their surroundings and don’t adapt to change as readily as their canine counterparts. Felines thrive on constancy, and any disruption to their environment can foster stress-induced behavioral changes. An independent cat may become clingy and atypically affectionate. Conversely, a cat who’s normally demonstrative may become temporarily reclusive.

The most important thing any pet owner can do before moving with their pets is “plan, plan, plan,” says Steve Zawistowski, Ph.D., senior vice president of ASPCA Animal Sciences.

If your cat’s only exposure to a carrier was when she came home from the shelter, now’s the time to leave it where she can examine it daily. Place your cat’s favorite blanket or toy in the carrier, and praise her when she goes inside. “Set the carrier up well in advance, so your cat will get used to going in there and hiding out,” says Schultz. “This way, when she feels stressed, she’ll hide in the carrier instead of in a suitcase.”

Dogs are often easier to travel with, but if Fido’s only experience in a car has been a trip to the vet, you’ll want to acclimate him to riding in the car a few weeks before your move. Start with short trips, perhaps to the park. Positive association will reinforce the pleasurable aspect of car rides and help decrease anxiety.

On the day of the move, place your cats or other small animals in their carriers and confine your dogs to one room or the backyard. If your dog has any territorial protectiveness or gets stressed out easily, ask a neighbor to watch him for the afternoon until all of your belongings are packed away. Only after everything is out of the house should you retrieve your animal and place him in the car or moving truck.

Cats should always be confined to a hard-sided carrier, as should other small animals, such as rabbits, ferrets and birds. Allow enough room on either side of the carrier for proper ventilation. Arnold Plotnick, D.V.M., vice president of the ASPCA’s Bergh Memorial Animal Hospital, recommends covering the carrier with a sheet or light blanket for the first few hours of the trip. “Cats get a little freaked out when they see the world moving by,” he says. After a few hours, they should relax, and then you can remove the sheet.

Dogs should also be restrained. Safety harnesses, which attach to any seat belt, allow your dog to sit or stand comfortably, whereas safety gates, made of either mesh or metal, give him added mobility in a restricted area. An unrestrained, agitated dog can compromise your control of the car while driving. Moreover, there exists the risk of your already disoriented dog escaping from the vehicle at a roadside stop.

And don’t forget to pack a separate bag for your animal. Take some of his favorite food, as well as a gallon of water, because water characteristics change regionally. If you are traveling with cats, they can generally travel for eight to 10 hours without having to use a litterbox, but it never hurts to bring along a disposable litterbox for emergencies or overnight stops. You will also need to bring a pet first aid kit and some extra towels, in case of accidents. Place temporary ID tags with your new address and phone number, or a cell phone number, on your pet’s collar.

Keep a current health certificate for your pet handy during interstate travel, because many states require one. Highway patrolmen have the right to inspect your pet’s health certificate, should you be pulled over for another reason, and you can be fined for not having one.

If you cannot take your pet with you during the move, there are a variety of animal relocation companies that will transport your animal using either their own vehicles or by prearranging appropriate relocation methods and boarding. They also make sure that your pet’s paperwork is up to date. Leaving these details to someone else may be well worth the extra expense, says Denise Simmons. In 1998, Simmons accepted a job as a programmer at the ASPCA Animal Poison Control Center, which required her to relocate from Virginia to Illinois. This meant packing up a menagerie of pets, including two horses, one dachshund, one parrot, a rabbit, a squirrel and six cats. Simmons contracted with Spotsylvania, VA-based 4 Bar Transport, which she found through ads in Horse Illustrated, to ship her two horses. The company picked up the horses and transported them to a designated boarding facility, where they stayed until Simmons could retrieve them.

Many realty companies have also begun to realize how important pets are to prospective homeowners and renters. One such company, Washington, DC-based McEnearny Associates, designed a program called PAWsitive Experience, which debuted in 1999. Pet owners complete a questionnaire detailing their needs. Once a suitable home is found, clients are presented with a Pet Welcome Bag, which contains pet toys and treats, as well as a book that features local pet laws and directories of animal hospitals, dog parks and pet specialty shops.

Hidden Hazards

Not all moves can be made in one day. If you must stop for the night, call ahead to hotels that claim to be pet-friendly. “Don’t take a hotel chain’s word for it. Call the actual hotel and verify what their pet policies are,” says Hawk. Many pet-friendly hotels have a limited number of rooms available for people with pets, or will only allow small dogs and cats.

In the hotel room, look around for any dangers, such as open windows or holes in the wall, before letting your cat out of her carrier or your dog off his leash.

“At home you’re familiar with your cat’s favorite hiding places, but a strange environment has all sorts of possibilities,” cautions Moira Allen, a Virginia-based writer who has moved nine times in the past 16 years. During a 1991 move from Germany to California, Allen and her three cats spent several days in a Los Angeles hotel room while trying to find an apartment. Aware of the typical hiding places, Allen was terrified when she could not locate her tortoiseshell, Nani. After looking in every conceivable place, she noticed a slight movement on the bed. Nani was nestled in the hollow between the pillows, concealed beneath the bedspread. While Nani was not in any danger, the experience made Allen realize how easy it is for cats to hide.

Hotels also provide an opportunity for your pet to escape and become lost. Audio engineer Jon Picciano almost lost his cat George during a 1996 move from Michigan to New York City. Picciano confined George in the bathroom while he went out for dinner. But George managed to open the bathroom door, and when Picciano re-entered his room, George ran out into the parking lot. Says Picciano, “Luckily, he was as freaked out as I was and hesitated long enough for me to catch him. Now when I travel, I never leave the cats alone. Ever.”

Those Lovable Unhuggables

Dogs and cats aren’t the only animals who get new addresses. Each year, millions of families move with their favorite tarantula, iguana, fish, bird or other exotic pet. Moving exotics can require careful research and special handling.

When the Popolillos of New Jersey built a second home in Kentucky in 1998, it was important to them that they be able to bring part of their family of koi to the new house. The fish were transported in large plastic bags infused with concentrated oxygen, which can be provided by most major aquarium supply stores. These bags can support the fish for approximately 24 hours. Three of the fish were carried by a family member on a plane—they were in First Class, so they had ample space under the seat. The remaining four fish were driven to Kentucky.

“Fish can be difficult to move,” says Zawistowski. “If you’re not going to make the move in one day, it’s best to contact a professional animal moving company about overnight shipping. It’s not cheap, but if you’re talking about shipping very expensive fish, it’s worth it.”

Reptiles require meticulous planning because they are extremely susceptible to temperature fluctuations. Cathy Smith, director of business and quality management for the Impact Group, which specializes in corporate relocation, recalls helping a New Jersey family move to Louisiana with their iguana, Iggy. Several airlines refused to carry the cold-blooded animal on a passenger flight, so Smith investigated shipping Iggy as cargo. She found an approved carrier and advised the family to travel in June rather than December, as originally planned, eliminating climactic concerns. “This greatly relieved Iggy’s owner, making the relocation a happier event,” says Smith.

New Home Sweet Home

When you reach your final destination, immediately remove your animals from the car and segregate them in a single room. “Take a full inspection of the house before you let your animal out,” says Schultz. “If you haven’t lived here before, you won’t necessarily be aware of holes in the back of the cabinets, and you don’t know what kind of openings may be behind your larger appliances.”

“Check for open windows, chemicals in the water, mousetraps under the bed or dressers and even drapery cords, which cats can get tangled in,” adds Plotnick, who once handled an emergency case involving a dog who drank water from a toilet bowl filled with antifreeze. Only after all of your boxes and furniture have been moved in, and all of the movers have left, should you let your animals out to explore.

Placing familiar objects in relatively the same locations as in your previous home will help ease your animal’s anxiety, and now is not the time to change routines or schedules. If your cat’s litterbox was in the bathroom of your previous home, put it in the bathroom in the new location. If your dog has been accustomed to eating twice a day, don’t suddenly change his feeding schedule to once a day. “Any changes you make should be made slowly,” says Schultz. “You want the stresses of the new place to wear off before you start making additional changes. For some animals, it may take days or even weeks to become comfortable.”

“Let your animal’s behavior be your guide,” Schultz recommends. “To that end, it’s important for you to be as calm as possible. A lot of the stress that your animal feels comes from you. If you’re falling apart, your animal’s reaction is going to reflect that. If you have a relatively calm demeanor, that’s going to brush off on the animals, too.”

“It’s not easy to move with animals,” says Zawistowski, “but it’s part of the obligation we have to them.” With forethought and planning, there is no reason why moving to a new home cannot be accomplished with a minimum of stress—for both you and your companions.

Freelance writer Cynthia P. Gallagher resides in Crownsville, MD.

Relocating to White Rock / SoSu (South Surrey)? When moving long distance, you may want to consider having your vehicle transported professionally. For many families, a car is the second largest investment they have ever made. Getting that investment safely to a new home is an important component of a smooth move.

What are my options for transporting a vehicle?

A vehicle can be moved with your household goods or with a separate auto transport company. To ship your car most efficiently and cost-effectively, it’s important to know about the different shipping options, such as open and closed trailers.

What is an open trailer?
An open trailer is the more popular and frequently used trailer. It carries anywhere from 10-12 vehicles at a time.

Advantage: Open trailers are less expensive than closed trailers. The cost is determined by the weight of the vehicle.

Disadvantage: Open trailers are subject to the elements (i.e. rain, snow, wind, dirt and dust).

What is a closed trailer?
A closed trailer is a vehicle that has a covered freight area. It is commonly used for shipping expensive or classic cars. If you wish to protect your car from wind-blown sand and heat, this is your best option.

Advantage: The car is well protected from the elements of nature.

Disadvantage: Closed trailers cost more.

Is my car insured?
The company that transports your vehicle(s) should provide adequate insurance to protect against driver negligence. Ask for a copy of the “Certificate of Insurance” and familiarize yourself with the types of coverage provided. Consult with your current auto insurance agent to determine whether you need supplemental coverage.

Turning your vehicle over to the carrier.
Prior to handing over your car to a driver or transport company, be sure you receive an “Original Inspection Report.” This report provides: pick-up and delivery information, current mileage, and most importantly, shows the condition of your car at time of pick-up (pre-existing scratches and dents, cracked glass/mirrors, general paint condition, etc.).

Accepting your vehicle for delivery.
At the time of delivery, inspect your vehicle thoroughly and compare the condition and mileage against the “Original Inspection Report.” Many transport companies also provide a copy of this report at time of delivery. If there are discrepancies, note them as exceptions and be sure the driver signs it. NEVER accept your vehicle at night if you cannot verify the report condition and without being signed by the driver.

I have an energy efficiency checklist that I would be happy to share with you free of charge. That way, you’ll be ahead of the game when it comes to energy conservation.

Home Energy Checklist

What You Can Do Today…
- Turn down the temperature of your water heater to the warm setting (120F). You’ll not only save energy, you’ll avoid the risk of accidental scalding.

- Check if your water heater has an insulating blanket. An insulating blanket will pay for itself in one year or less!

- If you own a waterbed, make sure you make your bed today. The covers will insulate it and save up to one-third of the energy it uses.

- Begin using energy-saving settings on your refrigerator, dishwasher and clothes washer/dryer.

- Make sure you check the age and condition of your major appliances, especially the refrigerator. You may want to replace it with a more energy-efficient model before it expires.

- Examine your incandescent lights for opportunities to replace them with compact fluorescents. These new bulbs can save three-quarters of the electricity used by incandescents. The best targets are 60- to 100-watt bulbs used several hours a day. Measure the clearance in your fixtures to make sure they will accommodate compact fluorescents, which are slightly larger than incandescent bulbs.

- Clean or replace the filters in your furnace, air-conditioner and heat pump.

…This Week
- Visit the hardware store. Buy a water-heater blanket, low-flow showerheads, faucet aerators and compact florescent bulbs.

- Rope caulk your leaky windows.

- Assess your heating and cooling systems. Determine if replacements are required, or if there is a way to make them work more efficiently to provide the same comfort (or better!) for less energy.

…This Month
- Look over your electricity and fuel bills. Target the biggest bill for energy conservation remedies.

- Crawl into your attic or crawlspace and inspect for insulation. Is there any? How much?

- Insulate hot water pipes and ducts wherever they run through unheated areas.

- Seal up the most noticeable air leaks in your house – the ones that whistle on windy days or that feel drafty. This includes windows and doors, but also unnoticed culprits like utility cut-throughs for pipes (“plumbing penetrations”), gaps around chimneys and recessed lights in insulated ceilings, as well as unfinished spaces behind cupboards and closets. All the little, invisible cracks and holes may add up to as much as an open window or door, without you ever realizing it!

- Install a clock thermostat so you are able to set times for your house temperature to be lowered, such as when you are out during the day, and through the night.

- Schedule an energy audit (ask your utility company or local energy office) for more expert advice on your home as a whole.

…This Year
- Insulate. If your walls aren’t insulated, have an insulation contractor blow cellulose into the walls. Bring your attic insulation level up to snuff.

- Replace aging, inefficient appliances. Even if the appliance has a few useful years left, replacing it with a top-efficiency model is generally a good investment.

- Upgrade leaky windows. It may be time to replace them with energy-efficient models or to boost their efficiency with weather stripping and storm windows.

- Reduce your air conditioning costs by planting shade trees and shrubs around your house – especially on the west and south sides. Know that you are making a difference!

HOME SALES TAKE SUMMER DIP; PRICES REMAIN STABLE IN THE FRASER VALLEY

(Surrey, BC) – The Fraser Valley Real Estate Board processed 1,322 sales on the Multiple Listing Service® (MLS®) in July, an increase of 20 per cent compared to the 1,101 sales during the same month last year, however 17 per cent fewer than the 1,588 sales in June.

While sales decreased month-over-month, listings went up. The board posted 2,931 new properties on its MLS® in July – 6 per cent more than received in June and 24.5 per cent more than in July 2010 – pushing overall inventory to 10,073 active listings, the highest level in the Fraser Valley since last summer.

Sukh Sidhu, president of the Fraser Valley Real Estate Board, says, “Last month, we were busier listing rather than selling properties, which is good news for prospective buyers. A buyers’ market means REALTORS® will have more homes to show their clients and increased negotiating power on their behalf.

“For sellers in this market, expert guidance to determine your home’s list price is essential. Overall, we’re seeing home prices remain strong compared to a year ago, but not for every property type or every community. We’re still seeing tremendous regional variation in prices – some areas showing increases; others decreases – as well as local differences in the average number of days on the market.”

For example, in July, it took on average 18 days to sell a townhome in North Delta; 45 days on average to sell a single family home in White Rock/South Surrey; and, 65 days on average to sell an apartment in Abbotsford.

The benchmark price of a single family detached house in the Fraser Valley in July was $534,042, an increase of 4.6 per cent compared to $510,470 in July 2010.

For townhouses, the benchmark price in July was $328,318, an increase of 0.8 per cent compared to $325,856 during the same month last year. The benchmark price of apartments in Fraser Valley in July was $248,043, an increase of 1.5 per cent compared to $244,368 in July 2010.

GET THE FULL STATISTIC PACKAGE HERE

If you’ve noticed discoloration of wood in your attic, improper ventilation may be a problem in your home. A Realtor can put you in touch with some excellent resources that will help you determine if this is the case.

Before you start your big project, call me and let’s talk about it. As your real estate professional, I can give you a realistic estimate of the value that will be added to your home.

Think of a REALTOR as a professional who brings buyers and sellers together for the sale of a property. REALTORS are licensed real estate professionals who are members of the  Real Estate Board. REALTORS have access to the Multiple Listing Service® (MLS®) which is Canada’s most powerful real estate marketing system. This service provides REALTORS with listing information on a wide variety of properties for sale which in all likelihood includes your ‘dream home.’

Selecting a REALTOR

One of the best ways is to ask your friends, relatives and neighbours if they can recommend a REALTOR with whom they have worked in the past.

As a buyer, it is particularly important that you clearly understand the nature of your relationship with the REALTOR – whether the REALTOR will be acting in your best interests or on behalf of the seller, or, in some circumstances, for both the buyer and seller. The REALTOR will fully explain the different relationships before you start working together.

It’s a good idea to talk with two or three REALTORS to find out which one has the best combination of experience and knowledge in the type of home and area in which you are interested. Once you have selected a REALTOR, remain loyal to him or her. Keep in mind that he or she will be spending a lot of time and effort to help you find the right home.

Finding your new home

A REALTOR will help you zero in on specific locations for your new home and will help you differentiate between your needs, wants and what you can actually afford. A REALTOR can show you what is available on the market and will then accompany you as you view homes and help you assess whether or not the property is right for you. When you have found your ‘dream home’, a REALTOR can help you select the most appropriate mortgage and financing options. It’s often a good idea to get a mortgage pre-approved so that you know exactly what you can afford.

Signing the contract

A REALTOR understands the laws and regulations that govern real estate transactions and has been trained to ensure you have a legally binding, enforceable contract. That’s reassuring when you are relying on your REALTOR to help you with one of the biggest transactions you will make.

Attractive mortgage interest rates, government incentive programs and an excellent supply of homes for sale are making the dream of home ownership possible for more would-be buyers.

Consider Using Your RRSPs

You may want to take advantage of the RRSP Home Buyers’ Plan. The program allows you to use your Registered Retirement Savings Plan (RRSP) contributions (up to $20,000 per person, $40,000 per couple) to buy or build a home. You must be a first-time buyer or at least not have owned a principal residence for four consecutive years in order to qualify under the plan. Remember, no income tax is deducted from these funds as long as they are repaid to an RRSP according to the government’s repayment schedule.

Lower Down Payment Requirements

Canada Mortgage and Housing Corporation’s (CMHC) Home Loan Insurance Plan is designed to give buyers lacking a larger down payment the opportunity to get into the market sooner. Under the program the minimum down payment requirement for federally insured mortgages for buyers is just five per cent. The home can be new or resale.

Examine Your Needs

It is never too early to start considering where you would like to live and the type of house that best suits your needs. This is where a REALTOR’s services prove invaluable. REALTORS have access to the Multiple Listing Service® (MLS®) which is a co-operative listing system that offers maximum exposure of homes listed for sale. A REALTOR can help you zero in on the type of home you want with a quick search on the computer. Once you have defined a few key parameters like price, location and number of bathrooms, a REALTOR can provide you with a customized list to assist you in your search.

Defining your focus is important because there are plenty of housing options available in the Fraser Valley area. You will have to choose the property that is right for you from among new houses, resale homes, townhouses and condominiums. A REALTOR is a highly trained professional who can help you choose the one that best suits your current and projected
lifestyle.

A REALTOR will accompany you as you view homes and provide you with all the pertinent information to make an informed decision.

So, if you are ready for home ownership, now is a good time. Many Canadians would agree that owning a home is one of the best investments you can make and helps provide financial security for retirement.

You may be surprised to learn that the cost of moving up is within your means. The equity you have already built up in your current home can often be sufficient for the down payment for your next home. And, with today’s attractive mortgage rates, carrying charges need not be much larger than what you are paying now. A REALTOR can help you calculate the carrying costs on a ‘move up’ home.

Changing needs

The desire to move to a larger home is often the result of changing needs for you and your family. A new child is on the way and you need a nursery; the children are growing and need their own rooms and more space to play; you’re tired of scrambling for a place to park on the street and want your own driveway; you need more space to build a home office now that you are self-employed; or maybe you just need a change of scenery.

There are as many reasons as there are different lifestyles. Whatever your reasons, moving up to a new home can intensify the joys of home ownership.

There are both practical and emotional results of moving up to a better home. On the practical side, the equity in your home will continue to grow and the value of a bigger and better home will be ultimately greater over time. On the emotional side, the pride of ownership in a bigger house will probably be even greater than when you bought your first home.

Ask a REALTOR for help

As will every major decision, the key component is thoughtful planning. Your options can be confusing at times but a REALTOR can help you make the right choices.

Location, of course, will be one of the first choices you will need to make. There are almost as many individual choices on location as there are homes. If you want to move closer to the urban core you can be sure that there is somebody out there who is just as eager to move to the suburbs. If you want a house on a bigger lot to enjoy gardening, there’s someone looking for a smaller lot which requires less maintenance. With access to the Multiple Listing Service® (MLS® ), a REALTOR can not only help you sell your present home for the best price possible, but also provide you with a customized list of homes for sale that meet your needs, wants and budget. He or she can then arrange for you to view the homes that appeal to you the most.

If you are thinking of moving up to meet changes in circumstances and lifestyle, contact a REALTOR today for expert advice.

What kind of home do you need and want?

Buying a home is a balance of many requirements such as family size, location, income and lifestyle. REALTORS are excellent sources of advice and help in these matters. Not only do they have the experience and knowledge to make sure the choice you make will be the right one, but with access to the Multiple Listing Service® (MLS®), they can seek out suitable properties for you and provide you with a customized list of homes that meet your needs, wants and budget.

Ask yourself exactly what you need in a home. How many bedrooms?

How close to schools or shopping centres? Do you plan to have more children? Do you need a garage or a finished basement? New homes offer extensive warranties and pristine conditions but may not have mature trees or landscaping. Older homes often include improvements such as finished basements or rec rooms, decks and patios. Be sure to have any resale home inspected for needed repairs or upgrading.

decide on a preferred location

Living in the city means you will be close to amenities such as theatres and shopping. If you prefer a more rural lifestyle, make sure the extra time spent driving each day won’t detract from your enjoyment of the property.

Townhomes and condominiums are obviously suited to particular lifestyles or budgets. Townhome or condominium living offers convenience and often means sharing common areas such as parking, hallways and landscaping.

What can you afford?

Once you have determined what it is you want and need, you’ll have to find out what you can afford. The first tip is to set a maximum price range instead of just an upper price. It’s not always wise to buy the most expensive home you can afford but better to aim lower in anticipation of extra costs or fluctuations in your income.

A REALTOR or your financial institution can help you determine the amount of the mortgage you can carry by calculating your debt-service ratio. The rule of thumb is that the sum of all your current loan payments (car, personal, credit card, etc.) plus your mortgage should not exceed 40 per cent of your gross income. In addition, mortgage payments and property taxes should not be more than 30 per cent of gross income.

Buying your first home may seem intimidating in the beginning, but with careful planning, a clear idea of what you want and the help of a REALTOR, home ownership can be become a joyful reality for you and your family.

• Liens, encumbrances, or defects in the title to a property
• Tax arrears
• Defects that would have been revealed by an accurate, up-to-date survey
• Forced removal of an existing structure, other than a boundary wall or fence
• Work orders, zoning or set back non-compliance/deficiencey
• Another party claiming an interest in the property
• Fraud, forgery, duress, incometence, incapacity or impersonation
• Unmarketability, which allows another person to refuse to perform a contract to purchase, lease or make a mortgage

Title insurance can be purchased for a one-time fee, payable when the property is purchased. Depending on the premium you pay, it protects your lender only, or both you and your lender. A title insurance company issues the policy, and the policy remains in effect for as long as you own the property. Note that a new policy may be required if you change mortgage lenders. For more information go to www.firstcanadiantitle.com. If you would like to order title insurance, please call to obtain a quote.

This information is being provided to assist in the planning of a home purchase. It is not intended to be legal advice and the information set out may not be applicable in all cases. In some situations, a purchaser may be required to pay for other additional expenses such as a second mortgage, an assignment of rents, power of attorney, or independent legal advice.

It’s a big step. For most people, taking out a mortgage is the biggest financial commitment they will ever make. But buying your own home has always made sound financial sense. Here are some facts to think over when considering home ownership as opposed to renting.

• If you are 35 now and just buying your first home, you will likely be mortgage-free when you are 60 and sitting comfortably on a considerable asset.
• It’s highly likely your investment will appreciate considerably in 25 years. It’s important, however, not to buy with the intention of making a quick fortune. Think of home buying as a sound, long-term investment.
• Buying a home is a very effective way of saving regularly over many years. Even if you never buy into another retirement or investment plan, you are effectively putting money away for the future.
• Owning a home of your own means you and your family can set down roots, get to know your community and involve yourselves in it.
• Discover the pride of home ownership. You can fix the place to suit your particular needs. You can also have pets in your home.
• As your family grows and moves on to homes of their own, you will have the option of earning extra income by renting out spare rooms or floors, if local bylaws allow.
• If you are planning to borrow money from a bank or other financial institution, owning your own home is a definite plus when it comes time to negotiate.
• You may not need as much money as you think to get into the home market. Qualified buyers can buy a house with as little as five per cent down through the Canada Mortgage and Housing Corporation’s (CMHC) mortgage insurance scheme. You may also be able to use RRSP funds as part of your down payment.
• With many kinds of investments, you have to pay a capital gains tax on profit you make. If your home is your principal residence, this tax does not apply.

After you have carefully considered all of the aspects of home ownership and are ready to begin your search, it’s time to contact your REALTOR. He or she has access to the Multiple Listing Service® (MLS®), a co-operative marketing system through which properties are bought and sold. Using the MLS®, your REALTOR can prepare a customized list of properties for sale that best meet your needs, wants and budget. Your REALTOR will also provide valuable assistance and guidance to you throughout the buying process.

This is an excellent time to consider buying. Attractive mortgage rates, government incentive programs and a wide selection of housing options available through the Multiple Listing Service® (MLS®) make this a good time to buy.

Look and compare

As you start your search for a home, it is a good idea to enlist the services of a REALTOR. REALTORS have access to the MLS® system and can help narrow the search by providing you with a list of available properties in the price range and location that suits you.

Your selection, to a large extent, will be determined by your lifestyle and in most cases becomes a matter of compromise. For instance, you may find an older home that needs some renovation work, but this may not necessarily fit into your budget plans or your hectic schedule if you plan to do a lot of the work yourself. On the other hand, you may find a new home attractive but would have to spend extra money on landscaping and installing some of the amenities that may be a part of the package in an older home.

Advantages of an older home

Older homes have a number of advantages. You can see exactly what you are getting – structural faults are generally easier to see and can be or have been corrected. The character of the neighbourhood is established and a variety of local services is usually available. In addition, the landscaping around the home has already been completed. There are generally fewer move-in costs because basic features like drapery tracks (and sometimes window coverings) are already installed. Chattels, such as special lighting fixtures, are often included in the sale of an older home.

Advantages of a new home

A brand new home also has advantages. You have much more flexibility with a new home in customizing your decor and landscaping to suit your tastes. You get fresh, unblemished walls and you can usually choose the type of flooring, carpeting and cupboards that you want. You usually get much more storage space (such as closets) and larger rooms. In addition, today’s minimum standards for plumbing, electrical, insulation and heating systems are higher than ever before. Traditionally, land values tend to increase during the first few years as neighbourhood services develop and the subdivision nears completion.

Regardless of what type of home you choose, be sure to discuss your preferences with your REALTOR. With an in-depth knowledge of the local housing market, your REALTOR can help you find the home that best suits you and your family. Your REALTOR can also offer invaluable guidance and advice throughout the home buying process.

Location, Location, Location

Location is one of the most important factors in making any real estate purchase. For example, if you work downtown and you are comfortable with the idea of commuting, you might want to consider buying a home in one of the outlying communities where lots may be more picturesque and peaceful. On the other hand, living closer to the city centre often means a short commute to work and easy access to shops and entertainment facilities.

When focusing on location, you will likely want to consider other important factors like the proximity of schools, access to public transit and shopping facilities, etc.

Identify features you need and want

Once you have decided on the location you prefer, it is time to identify your needs so that you can zero in on the home of your choice. For instance, if your family is outgrowing its present apartment or home, you know you are going to require something bigger and more comfortable – possibly with more bedrooms and a second bath.

In addition to your needs, you should also consider your wants – things you would like to have if you can afford them and if they are available. Remember, the time you take to think about these things now will prove invaluable later during your discussions with a REALTOR.

Matching needs and wants with available properties
With access to the Multiple Listing Service® (MLS®), a co-operative listing system that offers maximum exposure of homes listed for sale, your REALTOR can draw up a customized list of homes that as closely as possible match your needs, wants and budget in the locations of your choice.

Take your lifestyle into account and the things that could enhance or detract from your daily enjoyment. Then add these preferences to your needs or wants shopping list. Your REALTOR will be pleased to arrange for you to see the homes for sale that appeal to you the most and will offer invaluable guidance throughout the home-buying process.

Remember also that all of the properties listed for sale on MLS® can be viewed on the Internet at www.mls.ca .

If you are serious about buying your dream home, contact a REALTOR – they are in the business of helping make the dream of home ownership a reality.

This lists only the major items. A more complete list applicable to your particular situation can be obtained by contacting a mortgage source consultant.

This information is being provided to assist in the planning of a home purchase. It is not intended to be legal advice and the information set out may not be applicable in all cases. In some situations, a purchaser may be required to pay for other additional expenses such as a second mortgage, an assignment of rents, power of attorney, or independent legal advice.

A house hunting checklist will help you keep track of the advantages and drawbacks of each home. Ensure the checklist includes the basic information regarding location, asking price, annual property taxes, mortgage terms and any applicable zoning restrictions.

Exterior

Jot down your impressions of the exterior of the home, noting the lot size and shape, position of the home on the lot (facing north, south, east or west). Note the condition of the landscaping and whether the yard is fenced. Check the condition of the siding and note whether the home has an attached or detached garage. Be sure to take a good look at the roof and note its general condition and age. It’s also important to examine the foundation of the home for any visible cracks or holes.

Interior

Note whether the home has a separate front hallway. Check the windows to ensure they open and close easily and note the general condition of the doors. The kitchen is an important room in any home, so pay attention to its size, the condition of the appliances, sink, cupboard space, counter tops, flooring, lighting and electrical outlets. Be sure to ask whether any or all of the appliances are included in the sale.

It may be that a separate dining room, a family room and fireplace is important to you. Note also the size of the bedrooms and closet space and whether there are any window coverings or adjoining bathrooms. Also make note of the flooring and room colours.

Make notes on the number and size of bathrooms and the conditions of the fixtures. Check all faucets and flush toilets to make sure they are in good working order and to see if there is adequate water pressure.

Basement

Check whether the basement is full or partial, finished or unfinished and whether there is adequate room for walking about. Note whether there is a utility area and whether the washer and dryer are being sold with the house. It is also very important to ask about the type of heating, water service, plumbing (copper or other), electrical amperage and insulation. Your REALTOR will be able to help you with questions you are unsure of. It is also a good idea to have a professional building inspector examine any home in which you are seriously interested.