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        <title>Vancouver Real Estate News Blog</title>
        <link>http://www.realestatevalley.ca/blog/</link>
        <description>Offering insight into the residential and commercial Vancouver real estate market for home buyers, investors and businesses</description>
        <item>
            <guid>http://www.realestatevalley.ca/blog/live-in-vancouver-and-walk-to-the-vancouver-sun-run.html</guid>
            <link>http://www.realestatevalley.ca/blog/live-in-vancouver-and-walk-to-the-vancouver-sun-run.html</link>
            <author>lead-coordinator-396964-1@leads.followupboss.com (LEAD  COORDINATOR)</author>
            <title> Live in Vancouver and Walk to The Vancouver Sun Run</title>
            <description> <![CDATA[ 
Vancouver is more than just a great place to
live -- it's a fantastic place to stay in shape with mountain and ocean views.


This years Vancouver Sun Run is almost
here!&nbsp; The beloved event is scheduled to
take place on Sunday, April 21, 2013.&nbsp;
The Vancouver Sun Run is Canadas largest 10K road race 
the 2012 race boasted an impressive 48,904 registered participants.&nbsp; 


The annual event was established in 1985 with
the goal of promoting health and encouraging an active lifestyle.&nbsp; 


With this years early spring and in the
spirit of The Vancouver Sun Runs mission, now is the ideal time to take full
advantage of the countless lively outdoor activities the city of Vancouver has to
offer.&nbsp; 


A
great way to stay active is to become a frequent visitor of the Stanley Park
Seawall.&nbsp; This scenic trail bordering the
water is ideal for casual strollers as well as serious sprinters, and everyone
in between.&nbsp; The Stanley Park Seawall path is also
suitable for bike riding, rollerblading, skateboarding and jogging.&nbsp; 


Fitness
for Fido, Too


If
you want to enjoy sand as well as water, visit one of the many beautiful beaches in
Greater Vancouver.&nbsp; But instead of just lounging around and
working on your tan, try incorporating fitness into your next trip to the
beach.&nbsp; For instance, the dog-friendly
Spanish Banks is perfect for walking your canine companion, while Jericho Beach is the place to be if you want to
compete in a friendly volleyball match.&nbsp; The
beach is also an ideal setting for practicing yoga, so the next time youre
visiting Kitsiliano Beach or English Bay Beach take a minute to break out into
an impromptu Downward Dog or Goddess position. 


A
great weekend activity is to plan a hiking adventure at the North Shore.&nbsp; Hiking is a fantastic form of exercise
because it offers a rigorous workout without the high impact of running,
jogging or jumping rope.&nbsp; And you cant
beat the gorgeous scenery  the trail is surrounded by majestic forests.&nbsp; Fill up a backpack with bottled water, trail
mix, apples and peanut butter sandwiches and make a day of it.&nbsp; A trip to the North Shore
is the perfect family outing.&nbsp; 


Take a Hike


Alternate
trails for hiking include those found at Cypress
Provincial Park,
Pacific Spirit
Regional Park,
and Lighthouse Park.&nbsp;
Cypress Provincial Park
is only open for hiking during the summer and autumn months  during the winter
season, this park offers exciting downhill and cross-country skiing.&nbsp; In addition to hiking, the 35km of trails at Pacific Spirit Regional
Park
are ideal for mountain biking.&nbsp;&nbsp; 


For less rugged  but equally fun  outdoor
activities, visit Queen Elizabeth Park.&nbsp;
This park features designated areas for sports such as tennis, lawn
bowling, and pitch-and-putt golf.&nbsp; And
while you are there, stroll through the rose gardens and visit the 100-plus
plant species and tropical birds that inhabit the conservatory.&nbsp; 


Sun Run
Sign Up


Vancouvers annual Sun Run is
a terrific reminder of the importance of physical activity.&nbsp; Fortunately, Vancouver is a city offering numerous
opportunities for outdoor fitness year-round.&nbsp;
If you havent already done so, be sure to register for The
Vancouver Sun Run
online before April 16, 2013.&nbsp; You can
also register by mail  mailed entries must be postmarked by April 12,
2013.&nbsp; After April 16, you must register
in-person at BC Place Stadium.&nbsp; 
 ]]> </description>
            <pubDate>Tue, 02 Apr 2013 13:31:02 -0500</pubDate>
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            <guid>http://www.realestatevalley.ca/blog/mass-transit-fuels-vancouver-home-sales.html</guid>
            <link>http://www.realestatevalley.ca/blog/mass-transit-fuels-vancouver-home-sales.html</link>
            <author>lead-coordinator-396964-1@leads.followupboss.com (LEAD  COORDINATOR)</author>
            <title>Mass Transit Fuels Vancouver Home Sales</title>
            <description> <![CDATA[ 
If
you're planning to sell your Greater Vancouver home this year, it pays to live
near public transportation.&nbsp; As more and
more people shift their home buying dreams to places outside the city's
boundaries, a top question on their minds is, "How close is it to the
SkyTrain?"


When
you list your Burnaby, New Westminster or Chilliwack home for sale, don't be
surprised if potential buyers are more interested in commuting times than they
are in square footage and bathrooms.


Every
minute -- and every step -- counts when it calculating daily commute
times.&nbsp;&nbsp; If you don't regularly use
public transportation yourself, get a primer from your neighbors or real estate
agent so you can answer buyers' questions with confidence.


Strong Demand for
Homes in Greater Vancouver


Interest
in Vancouver housing in close proximity to public transit remains high, according
to a February 26 article published in The Vancouver Sun. Scott
Brown, senior vice president of Colliers International Residential Marketing
predicts that the demand for homes near public transportation is expected to
stay strong throughout the year.


The
fourth-quarter Marketshare report on multi-family residential real estate
conducted by Colliers states that transit-oriented housing in Vancouver is
appealing to consumers in large part due to cost-efficiency.&nbsp; In the report, Brown points to the
affordability factor as the driving force behind the housing market demand,
noting that &ldquo;the first-time buyer in select areas in Metropolitan Vancouver
will continue to be challenged by affordability.&rdquo; 


Live in Surrey, Work
in Downtown Vancouver


Housing
in the Vancouver suburbs is far more affordable than that of its city
counterpart.&nbsp; For this reason, Brown
predicts a growing trend of people moving to the suburbs, as opposed to urban
populations.&nbsp; Furthermore, residents of
suburban communities demand close, convenient access to public transportation
that will carry them to the city, where most of the jobs exist, not to mention
entertainment and recreational activities.


Buyers
want to know:&nbsp; "If I work late or have
dinner in the city with friends, how do I get home at night?"


And
with Vancouvers current dismal affordability status  Demographia ranks it the second
to least affordable city in the world, after Hong Kong  consumers are more
likely than ever to gravitate toward the more moderately-priced suburbs.


New Housing
Developments, New Subway Projects


Real
estate investors and developers may be interested in a proposed $2.8 billion subway along Vancouvers
Broadway Corridor.&nbsp; On March 11,
Vancouver Mayor Gregor Robertson announced his interest in building the subway
in order to help relieve Broadways heavy traffic congestion.&nbsp; Robertsons proposal was met with mixed
reviews  opponents are fearful of the subways potential negative impact on
small businesses.&nbsp; Skeptics are quick to
cite the devastating effect the Canada Line construction project
had on Cambie Street independent shop owners.


Baby-Boomers and Helpful
Parents


According
to the Colliers report, the consumers who are most interested in cost-effective
transit-oriented housing include baby boom generation individuals seeking to
downsize, and parents who are contributing to fund the purchase of their
childrens first homes.&nbsp; Real estate
investors, particularly new immigrant Chinese buyers, are also among those
groups demanding housing in close proximity to public transportation.&nbsp; According to Brown Chinese investors &ldquo;have
become very selective&rdquo; and are focusing their attention on purchasing homes
&ldquo;concentrated in a couple of select areas, especially around transit.&rdquo;&nbsp; 
 ]]> </description>
            <pubDate>Mon, 25 Mar 2013 21:11:09 -0500</pubDate>
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            <guid>http://www.realestatevalley.ca/blog/vancouver-invites-children-to-play-outside.html</guid>
            <link>http://www.realestatevalley.ca/blog/vancouver-invites-children-to-play-outside.html</link>
            <author>lead-coordinator-396964-1@leads.followupboss.com (LEAD  COORDINATOR)</author>
            <title>Vancouver Invites Children to Play Outside</title>
            <description> <![CDATA[ 
Vancouver
holds the honorable title of being one of the worlds most walkable cities
around the globe, according to the City of Vancouver official website. But
despite the citys unique and admirable quality, many children living in
Vancouver are forgoing their pedestrian potential in favor of a less active
mode of transportation.&nbsp; 


According
to a recent article published in the Vancouver Sun, there is an increase in the number of
children utilizing the car as their primary form of transportation.&nbsp; Kids who travel by car instead of by foot 
or similarly active means such as cycling, skateboarding or rollerblading  are
at an increased risk of suffering the negative effects of not getting an
adequate amount of daily physical activity.&nbsp;



Jumpin' Math:&nbsp; Preventing Childhood Obesity


Children
who primarily use sedentary means of getting from place to place are more
likely to suffer from childhood obesity  along with the numerous health
ailments that are associated with the medical condition  and are at an
increased risk of doing poorly in school.&nbsp;
In fact, it is the latter concern that prompted First Lady Michelle
Obama to help instigate &ldquo;Lets Move Active
Schools&rdquo;,
an expansion of her three-year-old &ldquo;Lets Move&rdquo; campaign to combat childhood
obesity.&nbsp; 


On
February 28, 2013 Mrs. Obama announced the
launch of &ldquo;Lets Move Active Schools&rdquo; and explained that the program
will focus on schools engaging in imaginative tactics to help children fulfill
their daily recommended amount of physical exercise. The program supports the
fusion of educational instruction with physical activity  for instance,
students reciting their multiplication tables while doing jumping jacks.&nbsp; 


The
ongoing trend of the automobile as the primary form of transportation for
children has an obvious impact on the kids themselves.&nbsp; But its not just the physical and mental health
of the individuals that is at stake  the entire community is affected.


Fewer Cars Better for
Kids and Parents


Modes
of transportation utilized by children help shape the entire institution of the
city of Vancouver.&nbsp; A higher prevalence of cars means more
traffic which may damage the citys reputation for boasting safe,
family-friendly neighborhoods.&nbsp; Heavy
traffic may make it dangerous for children to play outside and may deter
families from engaging in community social gatherings, such as front yard BBQs,
picnics and childrens birthday parties.&nbsp;
Increased traffic may also prevent families from feeling free to safely
explore the city and enjoy all of the parks, beaches and recreation facilities
it has to offer.


Furthermore,
a study found in the European Commissions
handbook,
&ldquo;Kids on the Move&rdquo; found that higher levels of traffic lead to isolated, and
therefore, less safe communities.&nbsp; 


Amenities to Justify
Price


Safety
and incidence of crime play a vital role in shaping the Vancouver real estate market and the property
value of homes in the Greater Vancouver area.&nbsp;



And
because Vancouvers
housing affordability continues to decline, it is essential that the city
maintain the favorable characteristics that support its high livability rankings.&nbsp; According to a March 8, 2013 article
published in the Huffington Post, both average
monthly rent and average cost of detached homes in Vancouver have increased
dramatically since 2007, making it the most expensive city in North America
with the second-least affordable housing in the world, after Hong Kong.&nbsp; 


Walking Opportunities


Whether
you're new to the city or a lifelong resident who's forgotten some of
Vancouver's great walking and cycling places, here are a few to help you and
your family get moving:




Stanley
Park in downtown Vancouver boasts 1,000 acres of gardens, trails, beaches and
wildlife.&nbsp; You can take a 2-hour walk
around the park via the seawall, visit the geese and swans to Lost Lagoon or play tennis
during the day and walk to a nearby restaurant at night.


Granville
Island on Vancouver's West side may tempt you into overeating at its public
markets and bakeries, you you can walk off the calories without ever feeling
bored by walking along the water, browsing book stores and art exhibits or
checking out the waterfront condos (your new home?)


On
the North Shore, you can traverse the West Vancouver Seawall from Ambleside
Park to downtown, hike the trails on Seymour, Cypress and Grouse Mountains or check
out the Seymour Conservation Reserve.


Spend
summer weekends walking around downtown.&nbsp;
A number of normally high-traffic downtown streets are closed to cars in
June, July and August.&nbsp; You and your
family can explore the city's vibrant offerings at your own pace, knowing that
great food and entertainment are never more than a block away.


 ]]> </description>
            <pubDate>Mon, 25 Mar 2013 00:41:10 -0500</pubDate>
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            <guid>http://www.realestatevalley.ca/blog/vancouver-housing-market-set-to-improve-in-spring-analysts-say.html</guid>
            <link>http://www.realestatevalley.ca/blog/vancouver-housing-market-set-to-improve-in-spring-analysts-say.html</link>
            <author>lead-coordinator-396964-1@leads.followupboss.com (LEAD  COORDINATOR)</author>
            <title>Vancouver Housing Market Set to Improve in Spring, Analysts Say</title>
            <description> <![CDATA[ 
A
stagnant real estate market is never a good thing -- not for home buyers, home
sellers, investors or the general economy.&nbsp;
It is almost always possible to take advantage of market trends and come
out ahead.&nbsp; But there's a big difference
between taking a smart approach and a dishonest one, as a recent example
demonstrates.


Recent
trends in the Greater Vancouver real estate market have some worried.&nbsp; In large part, this fear has prompted
inaction -- what chef economist at the B.C. Real Estate Association, Cameron Muir, described as &ldquo;a
wait-and-see approach.&rdquo; . 


In
fact, the fear-derived lull in the housing market due to a showdown between
consumers and sellers has caused a 14.3 percent decrease in the number of homes
sold in Greater Vancouver in January compared to sales for the same month of
the previous year, according to The Globe and Mail.&nbsp;



And,
although the Fraser Valley real estate market remains strong, overall sales in
the Greater Vancouver area fell again in February -- a decline of 29.4 percent
compared to February 2012, according to the Vancouver Sun.


Market Anxiety Fuels
Scam


However,
not everyone has chosen to participate in wait-it-out approach to real
estate.&nbsp; For some, anxiety over the
housing market has prompted action.&nbsp;
Unfortunately, the particular action taken by Vancouver-based real
estate marketing firm, MAC Marketing
Solutions,
was deceitful and fraudulent.&nbsp; 


Two
female employees of MAC Marketing Solutions posed as sisters interested in
purchasing a condo in Vancouver.&nbsp; The ruse was captured on a televised newscast
that aired February 19.&nbsp; MAC Marketing
Solutions instigated the newscast as promotional material in order to help market
the condo development, according to a February 21 article in The Globe and Mail. 


The
company has admitted to masquerading its employees as real estate investors.&nbsp; Presumably, the goal of the guise was to
elevate the closing price of the companys property. &nbsp;MAC Marketing Solutions is currently being
investigated by The Real Estate Council of B.C. for using &ldquo;dishonest tactics&rdquo;. CBS News reports that
the head of MAC Marketing Solutions himself, Cameron McNeill, is also being
investigated by the Council and is facing up to $25,000 in fines for engaging
in misleading marketing ploys.&nbsp; 


McNeill
has issued a public apology for the incident, telling The Globe and Mail, &ldquo;it was wrong and I take full
responsibility&rdquo;.&nbsp; 


Posing
employees as prospective home buyers appears to be a desperation tactic fueled
by panic over the state of the housing market.&nbsp;



Vancouver Real Estate
Prices Expected to Increase in Spring


But
experts predict that the Greater Vancouver
real estate market will experience ongoing relief in the near future.&nbsp; Even though the year-over-year sale of Vancouver homes has
decreased  about 5.2 percent in January and 29 percent in February prices
remain high and are expected to slowly increase, according to a February 15,
2013 statement by the Canadian Real Estate Association.&nbsp; 


Additionally,
Mr. Muir says that the dwindling number of new listings for home sales in
Greater Vancouver is positive indication
of the areas impending recovery. &nbsp;There
is more of a drought than glut of homes.&nbsp;
The number of new listings in the Greater Vancouver area has been
steadily declining since June.&nbsp; And the year-over-year
report for January was an impressive drop by 10.9 percent compared to
2012.&nbsp; 



Canada's housing market will flourish come springtime,
says CIBC World Markets economist Benjamin Tal.&nbsp;
Tal says that &ldquo;the spring will surprise on the upside&rdquo; in part due to a decrease in mortgage
rates  in fact, just over the weekend, Bank of
Montreal lowered the cost of its five-year, fixed rate from 3.09 percent to
2.99 percent.
 ]]> </description>
            <pubDate>Sun, 17 Mar 2013 23:09:47 -0500</pubDate>
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            <guid>http://www.realestatevalley.ca/blog/its-time-to-buy-bambi.html</guid>
            <link>http://www.realestatevalley.ca/blog/its-time-to-buy-bambi.html</link>
            <author>lead-coordinator-396964-1@leads.followupboss.com (LEAD  COORDINATOR)</author>
            <title>It's Time to Buy, Bambi!</title>
            <description> <![CDATA[ 
It
is a common saying that fear can stop you in your tracks.&nbsp; This statement, while not usually associated
with real estate, seems strangely fitting given recent trends in the Vancouver housing
market.&nbsp; 


Like
frightened forest critters caught in the headlights, some prospective home buyers,
fearful that the drop in home prices in the Greater Vancouver area over the
past year is solid indication of a more substantial price decline in the near
future, are postponing purchases.&nbsp; 


Consumers
are reluctant to take the plunge and finally buy the house of their dreams because
they are fearful that they would be buying on the high end of the market.&nbsp; 


No Bargain Bin Finds


According
to a February 18th, 2013 statement by Cameron Muir, chief economist
at the B.C. Real Estate
Association,
some prospective consumers in the Greater Vancouver area are &ldquo;taking a wait-and-see
approach in anticipation of a deflationary spiral&rdquo;.&nbsp; 


Like
the trend-seeking shopper who purchases the seasons must-have shoes, only to
see that they have been marked down and tossed in the clearance bin a mere few
weeks later, housing consumers are concerned that if they buy now, they will be
disappointed by the amount of money they could have potentially saved, had they
waited.&nbsp; 


These
fears are, for the most part, unfounded.&nbsp;
Mr. Muir told The Globe and Mail
in February that he doesn't expect a substantial drop in Greater Vancouver home
prices will not occur.&nbsp; He says that this
years market prices may, on average, be slightly lower than they were in 2012
and that in the year 2014, the cost of homes will experience a moderate
increase


Amid
panic that the real estate market in the Greater Vancouver area is taking a
detrimental hit is the reality of the situation: &nbsp;Greater Vancouver housing prices have only
dropped about 2 to 3 percent over the past year, according to data collected by
the B.C. Real Estate Association.&nbsp; 


Fewer Sales Mean
Greater Opportunities for Buyers


This
being said, even the small drop is creating major hesitation among
well-informed prospective buyers looking to get the best deal possible given
the climate.&nbsp; In fact, even Mr. Muir
himself admits that &ldquo;sales levels in 2012 were quite low from a historical
perspective.&rdquo;&nbsp; The Real Estate Board of
Greater Vancouver announced that Greater Vancouver had 1,351 property sales in January of this
year, compared to 1,577 in the same month last year.&nbsp; 


A
February 10, 2013 report by Canadian Mortgage Trends is quick to
admit that Real estate mortgage forecasts are largely based on
speculation.&nbsp; Canadian Mortgage Trends
reports what is perhaps the obvious -- that even with expert analysis, &ldquo;no one
knows how consumer psychology and external events will shape Canadian inflation
and mortgage rates through year-end&rdquo;.&nbsp; 


Recovery and Higher
Home Prices Predicted


It
is this very uncertainty about the future of the housing market that is
prompting fearful consumers to delay their plans to buy.&nbsp; But while the fear factor is most definitely
real, so is the strong evidence that the Greater Vancouver area is heading toward
a gradual recovery, according to the
B.C. Real Estate Association.&nbsp; 


Just
as Wiarton Willie, Canadas hedgehog forecaster, has predicted an
early spring this year, Mr. Muir expects a swift housing market recovery in
Greater Vancouver.&nbsp; Mr. Muir predicts
that &ldquo;once consumers in this springs market realize that prices have not
dropped substantially, they will likely get into the market and get on with
their lives.&rdquo;&nbsp; 


Get
ready to trek forward, Bambi.
 ]]> </description>
            <pubDate>Tue, 05 Mar 2013 13:33:45 -0600</pubDate>
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            <guid>http://www.realestatevalley.ca/blog/is-now-the-time-to-buy-a-home-in-vancouver.html</guid>
            <link>http://www.realestatevalley.ca/blog/is-now-the-time-to-buy-a-home-in-vancouver.html</link>
            <author>lead-coordinator-396964-1@leads.followupboss.com (LEAD  COORDINATOR)</author>
            <title>Is Now the Time to Buy a Home in Vancouver?</title>
            <description> <![CDATA[ 
The decision to buy a house is a
little like the decision to have a baby -- there's no such thing as the perfect
time.&nbsp; But it helps to make an informed
decision, to weigh need against desire and facts against speculation.


So, if you're considering buying
Vancouver real estate&nbsp; in 2013, here are
6 things to think about:




1.&nbsp;&nbsp;&nbsp;
Home Sale Prices




Home prices in the Vancouver area
declined 2.3 percent over the course of the past year, according to the MSL
Home Price Index, as reported by the Real Estate Board of Greater Vancouver
(REBGV).&nbsp; The average price of a home in
Greater Vancouver was $590,800 in December.&nbsp;
This is a decline of 5.8 percent from the peak reached in May when the
average selling price was $625,100.


Averages and fluctuations in home sale
prices are not consistent across all markets.&nbsp;
Contact Rick Clarke, a experienced and friendly Realtor on staff, to find out the current selling
prices of homes in your desired municipality and neighborhood.




2.&nbsp;&nbsp;&nbsp;
House Availability




Home sales are down in the Vancouver
area. December sales were 38.4 percent below the 10-year sales average,
according to REBGV.&nbsp; December 2012 sales
totaled 1,142, compared to 1,658 in December 2011.


Slow sales tend to favor the buyer
but, again, not all neighborhoods are equally affected by sales trends.&nbsp; A Vancouver real estate agent knowledgeable
about your desired location can help you make the buy now/buy later decision
based on detailed figures for the neighborhood and properties that interest
you.




3.&nbsp;&nbsp;&nbsp;
Mortgage Rates




Mortgage rates, particularly 5-year
rates, held steady at low rates throughout 2012.&nbsp; There's a modest risk of a rate increase this
year, according to Canada Mortgage Trends.&nbsp;
Geoff Lee, a Vancouver mortgage broker, posts these rates for the first week
of January:


6 months:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%


1 year:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.74%


2 years&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.69%


3 years:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%


5 years:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.99%


7 years:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.69%


10 years:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.79%




4.&nbsp;&nbsp;&nbsp;
First-Time Homebuyer Benefits




If you're buying a new home in
Vancouver or anywhere in British Columbia and it will be your first home, you
qualify for a $10,000 rebate from the provincial government.&nbsp; This offer only applies to newly constructed homes
and is set to expire in April.




5.&nbsp;&nbsp;&nbsp;
Sales Tax




If you buy a new home before April,
your purchase will be subject to 12 percent HST.&nbsp; The sales tax on new Vancouver properties
will lower to 7 percent GST in April.&nbsp; If
you're a first-time home buyer, you can determine whether it makes sense to
wait a few months to purchase by calculating the 5 percent difference in sales
tax savings against the $10,000 rebate.




6.&nbsp;&nbsp;&nbsp;
Home Loans




Qualifying for a conventional mortgage
became harder in November when the government imposed new rules on federal government
institutions.


The rules do not directly affect
credit unions and private mortgage companies, but all lenders may follow the
government's lead.


If you have limited funds to make a
down payment or less than perfect credit, the sooner you apply for a home mortgage
in Vancouver the more likely are to find a non-federal lender who had not adopted the
government's rules, which include these:




Consideration of your ability to make monthly mortgage payments when you
renew your mortgage as well as your ability to pay at the time of application.


Greater proof of income required for persons who are self-employed.


Tougher debt ratio requirements for obtaining sub-prime loans.


Inclusion of home heating costs in determining qualification for a
mortgage.




History and Future


Spend some time studying the history
of the Vancouver real estate market in which you wish to buy a home.&nbsp; But don't depend too much on it when making
your buying decision.


As billionaire Warren Buffet says,
"If past history was all there was to the game, the richest people would be librarians." 
 ]]> </description>
            <pubDate>Mon, 07 Jan 2013 00:29:09 -0600</pubDate>
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            <guid>http://www.realestatevalley.ca/blog/annual-trends-in-vancouver-real-estate-2012.html</guid>
            <link>http://www.realestatevalley.ca/blog/annual-trends-in-vancouver-real-estate-2012.html</link>
            <author>lead-coordinator-396964-1@leads.followupboss.com (LEAD  COORDINATOR)</author>
            <title>Annual Trends in Vancouver Real Estate 2012</title>
            <description> <![CDATA[ 
Here, we will cover just some of
the emergent trends for the Vancouver real estate market during 2012. The year
was a key one for buyers as for the first time in several years, the tides
shifted in their favor. But swirling through real data were also reports in the
media about shifts in the market that werent truly validated by the real
situation, which distorted buyer and sentiments alike and may have actually
altered the mood in favor of one over the other.


General Trends


As a general trend, Vancouver real
estate sales showed a definite lean towards the buyers market. For example,
Vancouver West showed a near-consistent drop in sales by about mid-year 14% to
18%, depending on which 12-month period youre looking at. While this was not
by any means a definitive indication of the trend for the rest of the year, the
third quarter data for Vancouver West showed a 27% drop in year-to-date sales
against only 16% for Vancouver East. Again, definitely trending towards a
buyers market but spread out unevenly across Vancouver. Linked sale prices,
however showed that by the end of Q3, housing was cheaper in on the west side
by 7% against 9% for the east.


Pricing Trends


The peak sale prices was around
the beginning of 2012, so a relative dip in subsequent months may be an
indication of the market gaining stability rather than sellers losing ground.
During that time, the average home price in Vancouver East ricocheted between
the $600,000 and $700,000 marks, and in Vancouver West, the price spiked past
the $1.25 million mark  a trend that was nearly matched only twice in the
preceding 12-month period, and that too by a $100,000 margin. The dramatic dip
since then took prices once again below the $1 million benchmark, but it has
since recuperated to more stable levels. The price spikes are likely
responsible for the sudden media panic around the middle of 2012.


Sales Trends


According to the Canadian
Mortgage and Housing Corporation (CMHC), Q4 is expected to follow the general
trend maintained so far  a nominal increase in homes sold and number of
housing starts, and a similar magnitude of decrease in average price. The MLS
HPI (Home Price Index) also corroborates this data; for example, for Greater
Vancouver, all types of residences (detached, townhouse and condo) show a
greater 6-month dip than a 1-year dip  inference: the sluggishness has mostly
been in Q2 and Q3 of this year. The main culprit was the month of June, which
is normally the busiest in the year for the industry: figures show that there
was a drastic 17% drop from May 2012 and nearly 30% drop from June 2012. With
very few major deviations  such as North Vancouver, Squamish and Whistler -
this has been the trend across most of Vancouver.


Trends in Housing Starts


Inventories in the market showed
a fair amount of stability across the whole of Vancouver, averaging about +0.5%
overall for the first three quarters against 2011 figures. Again, this is
validated by CMHC forecasts on the housing starts, which are expected to be
stable for multiple-housing properties and on a growth path for single-family
detached and townhouses. But even though projections for the latter are
positive, they are expected to stay well below the 10-year average. The resale
market on the other hand, which has been relatively unstable during the year,
as seen, is expected move to a more balanced scenario around mid-2013. The
positive outlook is based on both current and forecasted economy and employment
trends in the area.


So what were seeing is the nexus
between price drops and stability at this time, with positive forecasts all
around and a steady market in 2013. But the race isnt over yet, and anything
could happen between now and then. Q4 data is still being collected so more
comprehensive hindsight should be available by the beginning of the New Year
2013.


Sources:


http://www.vancouversun.com/business/real-estate/Housing+construction+sales+price+forecasts+stable/7501895/story.html


http://www.realtylink.org/statistics/buyers_market.cfm


http://www.rebgv.org/home-price-index?region=all&amp;type=all&amp;date=2012-10-01


http://www.theglobeandmail.com/report-on-business/economy/housing/in-vancouver-the-sellers-market-recedes/article4389244/


http://www.cbc.ca/news/business/story/2012/10/02/vancouver-housing-plunge.html
 ]]> </description>
            <pubDate>Tue, 13 Nov 2012 17:25:53 -0600</pubDate>
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            <guid>http://www.realestatevalley.ca/blog/why-real-estate-is-a-good-investment.html</guid>
            <link>http://www.realestatevalley.ca/blog/why-real-estate-is-a-good-investment.html</link>
            <author>lead-coordinator-396964-1@leads.followupboss.com (LEAD  COORDINATOR)</author>
            <title>Why Real Estate is a Good Investment</title>
            <description> <![CDATA[ 
Real estate has proven to be a good investment for
owners.&nbsp; Over the years, Real Estate
experts and professionals alike have studied the benefits of investing in Real
Estate.&nbsp; Let's look at some of the
benefits that were cited.


Ownership


This is the more obvious one.&nbsp; Owning a property instead of renting, in the
long run pays off.&nbsp; Just think, instead
of giving money each month to a landlord that is either using it to pay the
mortgage or pocketing it because the property is paid off, you can pay your own
mortgage on a property that you own.&nbsp;
Sure that means you don't have anyone to call if something needs to be
fixed, though whatever it is you are fixing is also an asset you own.


Return on Investment


Generally speaking, history has proved that property
appreciates in value over the years.&nbsp;
Certain fluctuations in the market&nbsp;
and other variables determine how much, though it is said real estate
appreciates at a rate of around 4% each year.&nbsp;
This may not seem like a lot, though multiplied over many years, it
really adds up.


Equity


The longer you own your property and make your monthly
mortgage payments, the more equity you will build.&nbsp; Your lender will be able to tell you how much
equity you currently have in your home.&nbsp;
Once you know how much equity you have, you can apply for a home equity
line of credit.&nbsp; Now say you that that
money you got from your home equity line of credit and used it to make home
improvements.&nbsp; You are in turn, adding
more value to your home.&nbsp; This takes us
to our next category.


Renovations


Making improvements to the property you buy can also be a
great return on investment.&nbsp; Investors
that flip houses know this first hand.&nbsp;
For example, a kitchen renovation may have return $10,000 to $20,000
more on what you paid to do it.&nbsp; This is
just an example.&nbsp; It's a good idea to
check with a Property Appraiser regarding specific renovations and how much
value they add.


Taxes


If your real estate is in the form of a rental, the interest you pay on the loan is tax deductible int he US.
This provides a great savings on your tax return each year.


Rental



If you buy a piece of
property for the purpose of renting it, you will make a monthly return on the
investment.&nbsp; This requires proper
research and planning.&nbsp; You want to make
sure that what you are buying property for this purpose, that if need be, you
can carry the mortgage until the property is rented.&nbsp; You will also need to research comparable
rentals in the area to see how it compares to your mortgage and taxes.&nbsp; The goal is to cover your expenses and have
extra pocket money each month.&nbsp; In
addition, you own it, so you can then sell this property at a later date and
make a profit off of the sale.
 ]]> </description>
            <pubDate>Fri, 25 May 2012 12:45:46 -0500</pubDate>
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        <item>
            <guid>http://www.realestatevalley.ca/blog/mortgage-101-basics-of-mortgages-in-canada.html</guid>
            <link>http://www.realestatevalley.ca/blog/mortgage-101-basics-of-mortgages-in-canada.html</link>
            <author>lead-coordinator-396964-1@leads.followupboss.com (LEAD  COORDINATOR)</author>
            <title>Mortgage 101 - Basics of  Mortgages in Canada</title>
            <description> <![CDATA[ 
So you've decided to buy some property,
congratulations!&nbsp; This is both an
exciting and rewarding experience.&nbsp; Now
all you need is the money to actually purchase it.&nbsp; Don't fret, it's not as overwhelming as it
may seem.&nbsp; There are a few basics to get
you started on the right track and into the home of your dreams.


The first step in the mortgage process is finding out how
much you can afford.&nbsp; Contacting a
mortgage associate and filling out an application is how you do this.&nbsp; You will be asked to supply a few pieces of
key information such as your social security number to run a credit report, and
employment information revealing how much you make and how long you have been
at your job.&nbsp; You may also need to supply
the last 2 years of tax returns.&nbsp; 


Your information will then be verified and the application
reviewed for approval. Your mortgage associate will find the best rate available
for you . The amount of money you are approved for, or the amount of your
mortgage loan, will be a starting basis for your home search. Now you know how
much house you can afford&nbsp; Though, the
details of the mortgage loan itself can vary.&nbsp;



In Canada, there are a few different types of loans you can choose.&nbsp; Here are the basics:


Fixed Rate Mortgage


A Fixed Rate Mortgage is typically a loan with terms between
5 to 25 years.&nbsp; This is a stable loan in
which the rate will not increase, nor decrease during its term.&nbsp; This is a good idea if you plan to have a
steady income during the term.


Adjustable Rate
Mortgage


Adjustable Rate Mortgage is typically a loan with terms
between 3 to 5 years.&nbsp; This is a variable
loan in which the rate will either increase or decrease, depending on bank
rates.&nbsp; This is a good idea if you plan
on staying in your house less than 5 years and do not have a problem with
possible increases to your monthly loan.


Combination Rate
Mortgage


Combination Rate Mortgages combine both Fixed and Adjustable
Rate Mortgages.&nbsp; This is a good idea if
you want to take advantage of both loans within your term.&nbsp; You can manage the risk of increasing
interest rates and also have the stability of a fixed rate.


These are the most common loans.&nbsp; There are other options you may be qualified
for.&nbsp; Speak to your mortgage associate to
get the details on all loans available to you.&nbsp;



Once you choose the type of Mortgage that is best for you
and your long term goals, you will review all the paperwork and sign a mortgage
approval form .&nbsp; If additional documents
are required by the lender, you will have 10 days from the time of the received
mortgage approval to send them&nbsp; The
mortgage lender will send all the documents to your lawyer.&nbsp; You will then meet with your lawyer to sign
all the documents for the loan. 
 ]]> </description>
            <pubDate>Fri, 25 May 2012 12:45:02 -0500</pubDate>
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            <guid>http://www.realestatevalley.ca/blog/how-to-find-a-trustworthy-realtor.html</guid>
            <link>http://www.realestatevalley.ca/blog/how-to-find-a-trustworthy-realtor.html</link>
            <author>lead-coordinator-396964-1@leads.followupboss.com (LEAD  COORDINATOR)</author>
            <title>How to Find a Trustworthy Realtor</title>
            <description> <![CDATA[ 
Buying a home is one of the most important decisions you and
your family will make in life.&nbsp; So it
goes without saying, the Realtor you choose to help with such an important
decision needs to be someone you can trust.&nbsp;
Though how do you determine this?&nbsp;
Below are some guidelines to help you choose a Realtor with confidence.


Check Out Their
Credentials


First and foremost, check out your Realtor's
credentials.&nbsp; Most professional Realtors
have websites which make it easy for you to get information on the their
background, experience, areas of coverage, and even specific listings. Do your
research and pick out a couple you are interested in speaking to further


Make Contact and Ask
Questions


This part is like interviewing. &nbsp;You have already checked out your Realtor's
resume online and now it's time to call them.&nbsp;&nbsp;
You want to ask more questions on their experience and how they can help
you find your dream home.&nbsp; Come up with a
list of questions you have beforehand as if to not miss certain things that are
important to you in the process.&nbsp; Do this
for each Realtor and take notes if necessary.&nbsp;



Relay Your Needs
Clearly


This is another good situation for you to take notes.&nbsp; Before making the calls, make a list of what
is important for you in the purchase of your new home.&nbsp; Are certain neighborhoods or schools at the
top of your list?&nbsp; Or is a big backyard
something you just can't live without?&nbsp; 


It's important to prioritize your list in a way so there are
certain features you wish you can get, though you can live without as long as
you have something else.&nbsp; Keep in mind,
it may be nice to have the beautiful home on an oversized lot, in the best
school district that is only 5 minutes away from your work, though many times
this is not a reality.&nbsp; There is usually
some give and take.&nbsp; So, figure out what
are your must-haves and what you can do without.&nbsp; Also consider the possibility of renovations.&nbsp; A certain home you are interested in could be
missing something you are able to alter in the future.


Is Your Realtor
Really Listening?


This is where trust really starts to come into the
picture.&nbsp; You have chosen a Realtor with
a background you are impressed with.&nbsp; You
spoken with him or her at length regarding your needs.&nbsp; Now the question to ask yourself is, "Does
this Realtor truly understand what I'm looking for in the purchase of my new
home?"&nbsp; The answer to this will
determine how effective they will be in providing you quality listings based on
your own personal needs.


Finding a trustworthy Realtor does not have to be stressful.&nbsp; Do your research, interview and express your
needs clearly. Then, make sure you feel comfortable with this person. &nbsp;After all, in this highly important decision,
you want your comfort level of this Realtor to be second to none as you do with
the decision to purchase your new home.
 ]]> </description>
            <pubDate>Fri, 25 May 2012 12:43:47 -0500</pubDate>
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