5413 Woodland Cres. 3 bedroom 2 bath townhouse in Westporte Place now is priced at $209,900
401-4505 Victoria Quay 3 bedroom 2 bath condo is now priced at $225,000
Call me to have a look at either one. 250.723.1800
Monday, October 27, 2008
Friday, October 24, 2008
Canadian Vs. U.S. Economy
I recently read a report provided by the Canadian Association of Accredited Mortgage Professionals discussing the differences between the U.S. and Canadian Housing markets and economies. There are several aspects of the report that I found quite interesting. The first is that they regard the Canadian economy as being much stronger than the U.S. counterpart. They discuss first the overall employment to population ratios. They express the fact that over the last ten years Canada has raised the the percentage of employed population while the U.S. number has fallen. What I find interesting is that our 2008 percentage is still considerably lower than their 1998 percent in the U.S. And although we now have a higher employment rate than in the U.S. I don't believe that our economy is "stronger" it is just more resilient and flexible because of our smaller population and industries.
The second point they make is that since 1990 Canadian homeowners have maintained their level of equity in their homes while in the U.S., their share of equity has fallen from about 64% to around 56%. Obviously this is a reflection of the crisis in the U.S. housing market. The interesting point here is that the downward trend in the U.S. started round 2001 when the North American Housing market started to pick up some speed. Was this the first sign of the lending practices that first got the U.S. into their current housing crisis?
The third point I want to mention is that starting in early 2005, the U.S. average home sale price started to decline while the Canadian counterpart continued to rise. I don't find this surprising at all since the Canadian economy is closely tied to that of the U.S. but does seem to have a lag time in regards to the trends of the market. Our house prices are starting to see declines in most local markets in Canada now that the U.S. economy is likely very near the bottom.
Time will tell where we will be in the next six months or a year. If you are interested in receiving a copy of this report, email me at Trent@TrentSnikkers.com
Wednesday, October 22, 2008
Real Estate Words Defined: Tenancy in Common.
The form of ownership in which the Registered Owners of interests in the property declare that there shall be NO automatic right of survivorship. If one dies, his or her share is distributed in accordance with their Will or the Estate Administration Act, if Intestate. The property forms part of the deceased's estate and passes to the Personal Representative of the Deceased upon filing a Probate Order with the Land Title Office.
Tuesday, October 21, 2008
Motivational Quote
The important thing is this: to be able at any moment to sacrifice what we are for what we could become.
Charles Du Bos
Charles Du Bos
Trent's Tuesday Top Ten (Ways to Green your Home)
10. Check the insulation. Make sure that the insulation in your home is to current codes or better. Check that insulation is not compressed and that there are no gaps. Ceiling insulation is especially important but check walls and flooring as well if it accessible.
9. Buy ENERGY STAR appliances. These can provide a huge amount of savings over older models without and ENEGRY STAR certification. When you replace your fridge with one that is more efficient, don’t put it in the basement as a beer fridge. It still consumes power in the basement.
8. Stop air leaks. Check weather stripping and caulking around windows and doors and replace where needed. Don’t forget to place thermal gaskets around light switches and receptacles and close chimney flues when not in use.
7. Check your water heater. Set your water heater to 120 degrees Fahrenheit. Insulate hot water pipes from the tank to the taps, as for as you can, wherever you can. These small changes will save power and money.
6. Program thermostats. Get a programmable thermostat and throw away the old one. Set it to reduce the temperature by a few degrees when your not home and when you are asleep. In the winter, set your temperature down a few degrees and in the summer set it a bit higher to save on cooling costs.
5. Use CFLs. Compact fluorescent lights save energy and save in buying them because they last ten times as long. Even better, try using led lights. Yes, they are more expensive but they require even less power and you might only need to buy on once in you life time.
4. Plant trees. Plant coniferous trees on the north and east sides of your house to block cold winds from hitting your house, reducing heating costs by up to 20%. Plant deciduous trees on the west and south sides and in the winter they will let the sun into your house and in the summer they will block the light.
3. Use low Volatile Organic Compounds (VOC) in your home. Thinking of doing a renovation? Think about the chemicals in the laminate, vinyl, paint and other finishes in your home. Many of these materials can have up to 1000 times the healthy levels. Check the products and ask question from your supplier. If they don’t know what is in their product, look somewhere else.
2. Plant your own garden for fresh food. No matter how big or how small, grow something and eat it. Fruit trees, vegetable garden, herbs, etc.
1. Turn off electronics at night or when not in use. Computers, TV’s, DVD players, printers and so on all consume power even when they are turned off. Unplug them or get a power bar and switch them off there.
9. Buy ENERGY STAR appliances. These can provide a huge amount of savings over older models without and ENEGRY STAR certification. When you replace your fridge with one that is more efficient, don’t put it in the basement as a beer fridge. It still consumes power in the basement.
8. Stop air leaks. Check weather stripping and caulking around windows and doors and replace where needed. Don’t forget to place thermal gaskets around light switches and receptacles and close chimney flues when not in use.
7. Check your water heater. Set your water heater to 120 degrees Fahrenheit. Insulate hot water pipes from the tank to the taps, as for as you can, wherever you can. These small changes will save power and money.
6. Program thermostats. Get a programmable thermostat and throw away the old one. Set it to reduce the temperature by a few degrees when your not home and when you are asleep. In the winter, set your temperature down a few degrees and in the summer set it a bit higher to save on cooling costs.
5. Use CFLs. Compact fluorescent lights save energy and save in buying them because they last ten times as long. Even better, try using led lights. Yes, they are more expensive but they require even less power and you might only need to buy on once in you life time.
4. Plant trees. Plant coniferous trees on the north and east sides of your house to block cold winds from hitting your house, reducing heating costs by up to 20%. Plant deciduous trees on the west and south sides and in the winter they will let the sun into your house and in the summer they will block the light.
3. Use low Volatile Organic Compounds (VOC) in your home. Thinking of doing a renovation? Think about the chemicals in the laminate, vinyl, paint and other finishes in your home. Many of these materials can have up to 1000 times the healthy levels. Check the products and ask question from your supplier. If they don’t know what is in their product, look somewhere else.
2. Plant your own garden for fresh food. No matter how big or how small, grow something and eat it. Fruit trees, vegetable garden, herbs, etc.
1. Turn off electronics at night or when not in use. Computers, TV’s, DVD players, printers and so on all consume power even when they are turned off. Unplug them or get a power bar and switch them off there.
Thursday, October 16, 2008
3535 12th Avenue Great New Price!!!
Attention Home Buyers!!! Price Reduction!
3535 12th Avenue has a great new price!
$192,900.00
3 Bedroom, 2 bathroom, Nicely update.
Let me know if you want to check it out!
3535 12th Avenue has a great new price!
$192,900.00
3 Bedroom, 2 bathroom, Nicely update.
Let me know if you want to check it out!
2598 3rd Avenue, Port Alberni, BC
Vacant building lot
33' X 125'
Corner of Bruce and 3rd Avenue
Call Trent @ 888.723.1800 for more details.
Canada Mortgage and Housing Corporation Supports Canadian Credit Markets
OTTAWA, October 10, 2008 — Canada Mortgage and Housing Corporation (CMHC) will purchase up to $25 billion in insured mortgage pools as part of the Government of Canada’s plan, announced today, to maintain the availability of longer-term credit in Canada.
The first purchase of $5 billion will be made October 16, 2008 through a competitive auction process. The mortgages involved are high-quality assets that are already guaranteed through government-backed mortgage insurance. The Government will announce a schedule of future purchase dates to take place over the coming weeks.
Canada Mortgage and Housing Corporation (CMHC) has been Canada’s national housing agency for more than 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes, while making vibrant, healthy communities and cities a reality across the country.
The first purchase of $5 billion will be made October 16, 2008 through a competitive auction process. The mortgages involved are high-quality assets that are already guaranteed through government-backed mortgage insurance. The Government will announce a schedule of future purchase dates to take place over the coming weeks.
Canada Mortgage and Housing Corporation (CMHC) has been Canada’s national housing agency for more than 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes, while making vibrant, healthy communities and cities a reality across the country.
Tuesday, October 14, 2008
Trent's Tuesday Top Ten (Reasons to use a Mortgage Broker)
10. Access to over 75 different lenders, banks, trust companies, investors and financial institutions.
9. Fast credit and loan pre-approvals with no cost or obligation.
8. Up-to-date on all the mortgage rates, terms and re-payment options available on the market.
7. They only specialize in mortgages and are knowledgeable on current trends.
6. They are experts at matching you with the best-suited mortgage.
5. Get mortgage rates at wholesale, guaranteed up to 120 days.
4. They work for YOU, not the bank.
3. They increase competition in the market place, thus keeping rates low.
2. They save you time and money!
1. Brokers have vested interest in satisfying your needs since they rely on referrals and repeat business.
9. Fast credit and loan pre-approvals with no cost or obligation.
8. Up-to-date on all the mortgage rates, terms and re-payment options available on the market.
7. They only specialize in mortgages and are knowledgeable on current trends.
6. They are experts at matching you with the best-suited mortgage.
5. Get mortgage rates at wholesale, guaranteed up to 120 days.
4. They work for YOU, not the bank.
3. They increase competition in the market place, thus keeping rates low.
2. They save you time and money!
1. Brokers have vested interest in satisfying your needs since they rely on referrals and repeat business.
Monday, October 13, 2008
Housing Starts Remained Strong in September - CMHC
OTTAWA, October 8, 2008 — The seasonally adjusted annual rate1 of housing starts was 217,600 units in September, up slightly from 217,400 units in August, according to Canada Mortgage and Housing Corporation (CMHC).
“Housing starts remained at a high level in September, with construction activity again staying above the 200,000 unit threshold.” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Higher starts of multiple family homes were behind the rise in new home construction activity in September.”
The seasonally adjusted annual rate of urban starts rose 0.1 per cent in September, compared to August. Urban multiples rose in September by 5.5 per cent to 122,500 units. Urban single starts decreased 8.1 per cent to 70,000 units in September compared to August.
September’s seasonally adjusted annual rate of urban starts went up or remained unchanged in all regions of Canada, except Ontario, where housing starts decreased by 6.6 per cent to 80,900 units. Urban starts increased to 9,500 units in Atlantic Canada, 29,000 units in the Prairies, and 33,600 units in British Columbia. In the Quebec region, starts remained stable at 39,500 units. Multiple urban starts increased in all regions in September, with the exception of Ontario, where they decreased by 1.9 per cent.
Rural starts were estimated at a seasonally adjusted annual rate of 25,100 units in September2.
For the first nine months of 2008, actual starts in rural and urban areas combined were down an estimated 5.7 per cent, compared to the same period last year. Year-to-date actual starts in urban areas have decreased by an estimated 0.8 per cent over the same period in 2007. Actual urban single starts for the January to September period of this year were 15.6 per cent lower than they were a year earlier, while urban multiple starts were up by 12.2 per cent over the same period.
“Housing starts remained at a high level in September, with construction activity again staying above the 200,000 unit threshold.” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Higher starts of multiple family homes were behind the rise in new home construction activity in September.”
The seasonally adjusted annual rate of urban starts rose 0.1 per cent in September, compared to August. Urban multiples rose in September by 5.5 per cent to 122,500 units. Urban single starts decreased 8.1 per cent to 70,000 units in September compared to August.
September’s seasonally adjusted annual rate of urban starts went up or remained unchanged in all regions of Canada, except Ontario, where housing starts decreased by 6.6 per cent to 80,900 units. Urban starts increased to 9,500 units in Atlantic Canada, 29,000 units in the Prairies, and 33,600 units in British Columbia. In the Quebec region, starts remained stable at 39,500 units. Multiple urban starts increased in all regions in September, with the exception of Ontario, where they decreased by 1.9 per cent.
Rural starts were estimated at a seasonally adjusted annual rate of 25,100 units in September2.
For the first nine months of 2008, actual starts in rural and urban areas combined were down an estimated 5.7 per cent, compared to the same period last year. Year-to-date actual starts in urban areas have decreased by an estimated 0.8 per cent over the same period in 2007. Actual urban single starts for the January to September period of this year were 15.6 per cent lower than they were a year earlier, while urban multiple starts were up by 12.2 per cent over the same period.
Friday, October 10, 2008
Jim Carrey? You be the judge.
I was walking into the doctor's office yesterday for some routine maintenance. As I was approaching the building from the parking lot, three kids passed by me. One of them said to the other, "Hey, that's the guy from the signs. The one that looks like Jim Carrey." I started to laugh as I went into the doctor's office. By this point though, it didn't even shock me. I have had so many clients tell me the same thing. I guess it has something to do with the haircut. I'll let you decide.
Tuesday, October 7, 2008
Trent’s Tuesday Top Ten (Reasons to buy 5413 Woodland West Cres)
10. Because it is yellow and according to about.com yellow denotes happiness and joy.
9. Because you don't have to spend time cutting grass, cleaning gutters, and chopping wood, which leaves more time for...well anything else really.
8. Because in Westporte Place there is a higher than normal percentage of police in residence which is generally a good thing, unless you are a fugitive or are trying to start a grow-op.
7. Because no matter what the season you will be guaranteed to be blinded by lights (Christmas, Halloween, Etc...)
6. Because you have two parking spots, one for the Hummer and one for the Bentley.
5. Because you would be as close to Sproat Lake as anyone living within city limits could get.
4. Because it is the end unit the wild parties that you will throw will only make you enemies with one neighbour.
3. Because you could fit a small car in the master bedroom.
2. Because without too much trouble, you will be able to find neighbour that is willing to give you advise on how to make your lawn green...Greener than green...Spray paint green, even though you don't take care of your own lawn.
1. Because you probably can't give me ten good reasons not to.
Monday, October 6, 2008
Friday, October 3, 2008
Starbucks Card Winner!!!
Hello Everyone,
Congratulations to Belinda Zado for answering one of my questions in the discussion section of my Facebook Group. Belinda wins a Starbucks card. (Belinda, let me know how you want me to get that to you)
Make sure you check in at my facebook page or at
AlberniValleyRealEstate.blogspot.com to find out how you can win the next prize! It will be coming within the next week.
If you know anyone who might find real estate info useful or might just want to win something, let them know about my group. My Facebook group is the only place to win!
Trent
Congratulations to Belinda Zado for answering one of my questions in the discussion section of my Facebook Group. Belinda wins a Starbucks card. (Belinda, let me know how you want me to get that to you)
Make sure you check in at my facebook page or at
AlberniValleyRealEstate.blogspot.com to find out how you can win the next prize! It will be coming within the next week.
If you know anyone who might find real estate info useful or might just want to win something, let them know about my group. My Facebook group is the only place to win!
Trent
Pricing your home right. From the start
One common issue with many listings in the current is that they are overpriced. Not only will an over-priced listing take longer to sell (if it does sell at all), it may also lead to the seller receiving less money in the end. Let me explain.
As a home owner and seller, you want to get the most money out of your home when you sell. Typically, home owners will want to ask more than they know their house is worth just in case somebody wants to buy it at the inflated price. This never happens. Buyers are smart especially with the help of their Realtor.
When a house is first listed, their is a certain level of excitement in the new listing. All the Realtors in the area have clients that are currently looking for houses and the new listing might be the one they buy. If this house is overpriced in the initial offering, the buyer may discount it as a possibility.
Now you may think that the buyer may make an offer at the price that makes sense to them, the fact is that if there are other listings that are priced accurately at the same point in time, the buyer will more likely put an offer on one of those houses because they will believe that they will get a better price on the lower priced listings.
So the over priced listing sits on the market for a month or so. The seller, and the realtor decide its now time for a price reduction. At the reduced price the seller is confident that it will sell. However, now that it is an old listing it has lost some of its sparkle. The other Realtors, have moved it down a notch on their radar. Subsequently, this listings stays on the market for another month or two leading to yet another price drop.
The asking price is now listed just above the floor price that the seller is willing to accept. An offer comes in much lower because the listing has been on the market for so long. The seller is now forced to choose...take the lower price or risk leaving it on the market for another few months.
If this listing had been priced correctly in the first place. There would have been a much higher level of excitement and urgency from one or multiple buyers. In fact, depending on the market, their may be multiple-competing offers. The seller would end up with a higher price in the end.
The moral of this story...Listen to your Realtor, study the comparable sales (not the comparable listings)and list your house competitively right from the start and you will make more money from your sale.
As a home owner and seller, you want to get the most money out of your home when you sell. Typically, home owners will want to ask more than they know their house is worth just in case somebody wants to buy it at the inflated price. This never happens. Buyers are smart especially with the help of their Realtor.
When a house is first listed, their is a certain level of excitement in the new listing. All the Realtors in the area have clients that are currently looking for houses and the new listing might be the one they buy. If this house is overpriced in the initial offering, the buyer may discount it as a possibility.
Now you may think that the buyer may make an offer at the price that makes sense to them, the fact is that if there are other listings that are priced accurately at the same point in time, the buyer will more likely put an offer on one of those houses because they will believe that they will get a better price on the lower priced listings.
So the over priced listing sits on the market for a month or so. The seller, and the realtor decide its now time for a price reduction. At the reduced price the seller is confident that it will sell. However, now that it is an old listing it has lost some of its sparkle. The other Realtors, have moved it down a notch on their radar. Subsequently, this listings stays on the market for another month or two leading to yet another price drop.
The asking price is now listed just above the floor price that the seller is willing to accept. An offer comes in much lower because the listing has been on the market for so long. The seller is now forced to choose...take the lower price or risk leaving it on the market for another few months.
If this listing had been priced correctly in the first place. There would have been a much higher level of excitement and urgency from one or multiple buyers. In fact, depending on the market, their may be multiple-competing offers. The seller would end up with a higher price in the end.
The moral of this story...Listen to your Realtor, study the comparable sales (not the comparable listings)and list your house competitively right from the start and you will make more money from your sale.
2526 15th Ave is SOLD!!!
I would like congratulate the owners of 2526 15th Avenue on the succesful sale of their house! I would also like to thank them for allowing me the opportunity to represent them with this transaction. I hope the new owners will enjoy the home.
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