Real Estate Market

Vancouver Real Estate - State of The Market for June, 2010

Is the real estate market slowing down now that higher interest rates are here?

You may have seen the latest home sales and prices and wondered - what is going on in my neighbourhood? Are we up? Are we down?I have compliled this data using MLS data and documented it in a easy to view format.

Have a look at my latest statistical data on your neighbourhood to find out if you are in a buyer or seller's market.

The number of properties listed for sale in Greater Vancouver continued to rise in May, while the number of sales showed a year-over-year decrease.In terms of number of property listings, last month marked the third consecutive month during which more than 7,000 homes were listed for sale on the Multiple Listing Service (MLS®) in Greater Vancouver.
New listings for detached, attached and apartment properties totalled 7,014 in May 2010, a 48.2 per cent increase compared to May 2009 when 4,733 new units were listed, and an 8.3 per cent decline compared to April 2010 when 7,648 properties were added to the MLS®. For more info, click here for more details.

Please note: Current monthly supply of homes on the market is defined as the ratio of the current inventory of active listings compared to sales. If 12 homes sold in the last 12 months in a given market that means that the market will absorb 1 house per month on average. If there are 10 homes currently on the market there is a 10 month supply. A 6 month supply is a balanced market, less is a sellers market and more is a buyers market.

Sale activities by neighbourhoods
Want to know what's happening with the real estate market in your neighbourhood? I have also compiled data for each neighbourhoods for Vancouver Westside and Eastside including price ranges for each area.
TO VIEW, CLICK HERE

Are You A “Fan” Of Saving Money?

How did homes used to stay cool? Ceiling fans.

Today, ceiling fans have become an important “energy-efficient” addition to your home. All year round, they are spinning comfort.

In the Summer:

Set your ceiling fan to spin counter-clockwise. This “wind chill” effect cools a room by several degrees. Also, air blowing over the body increases evaporation of skin perspiration and makes us feel cooler.

In the Winter:

Set your ceiling fan to spin clockwise. This draws the cold air up and pushes the warm ceiling air back down to the lower areas of the room. This can also help reduce condensation on windows.

Installing ceiling fans just makes good sense. You can save up to 40% in the summer and 10% in the winter, on your energy bills. According to statistics, they cost about 1 cent an hour to run.

Ceiling fans come in a wide variety and can be used in every room of your home – even outside rooms such as verandahs and sun porches.

What Sellers Need to Know About Home Inspections!

According to home inspectors, there are up to 100 physical items that come under scrutiny during a home inspection.

Whether you own an older home or a brand new one, there are a number of things that can fall short of requirements during a home inspection. If not identified and dealt with, any of these items could cost you dearly in terms of a sale that fails to complete! That's why it's critical that you know what they are. If you wait until the building inspector flags these issues, you will almost certainly experience costly delays in the close of your home sale, or worse, turn prospective buyers away altogether.

In most cases, you can make a reasonable pre-inspection yourself if you know what you're looking for. And knowing what you're looking for can help you prevent little problems from growing into costly and unmanageable ones.

To help home sellers deal with passing a home inspection, I provide this extensive list of items as part of my marketing plan for you to review to ensure a home inspection doesn’t cost you the sale of your home.

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