Financial assistance can help make homes safer for seniors and the disabled.  Would a new ramp, handrails or walk in shower help you to maintain your independence in your own home?

BC Housing's new Home Adaptations for Independence program helps low-income seniors and people with disabilities, make home modifications, to allow them to continue living at home.

Through the program, homeowners and landlords with eligible tenants can apply for financial assistance of up to $20,000, for improvements to make their home moer accessible and safe.

Types of eligible projects include:

     Handrails in hallways or stairways

     Ramps for ease of access

     Easy to reach work or storage areas in the kitchen

     Lever handles on doors

     Walk in showeres with grab bars

     Bathub grab bars and seats.

The projects must be permanent and fixed to the home, although exceptions can be made for equipment that gives access to an existing part of the home (such as a bath lift)

The program will not cover supportive care, portable aids such as walkers, household appliances, emergency repairs to roofs and furnaces, or maintenance work.

To qualify, recipients must be a low income senior or person with a disability, a Canadian citizen or landed immigrant, and a B.C. resident.  As well, the total household income and assets must be below a certain limit.  BC housing can tell you the income and house value limits for you area when you apply.

The program is open to both homeowners, and those living in market rental accommodation where rents are at the low end of market levels.  Landlords must apply on behalf of eligible tenants.

Eligibility requirements, application guides and application forms are available at www.bchousing.org/HAFI, by calling BC Housing at 604-646-7055, by emailing hafi@bchousing.org, or visiting any BC Housing office.

For outside the lower mainland, you can also call BC Housing toll free at 1-800-407-7757

The ancient Chinese practice of Feug Shui has become popular in the West in recent years.  Many homeowners seek out the wisdom of its teachings, in order to create balance and harmony in their homes.

Feng Shui is about taking control of how our enviroment affects us, by using different objects, arrangements of these objects, and color, that make the difference for receiving positive energy.

Qi (pronounced chee), is another word for life energy.  Homes are divided into 9 sections where this Qi flows.  Start by mentally standing at your front door and then visualizing a 3 by 3 grid laying over the whole house.

The top layer of the grid from upper left to upper right is as follows:  Wealth and Prosperity, Fame and Recognition, Marriage and Relationships.

The middle layer of the grid from left to right is:  Health and Family, Life Force, Children and Creativity.

Finally, the lower level of the grid from bottom left to bottom right is: Knowledge and Self-Cultivation, Life Purpose and Career, People and Travel.

If you feel your life is lacking in one of these areas, or needs some help, then be sure to pay careful attention to these particular zones.

If your bathroom is in your wealth corner, for example, then be sure you are not "flushing away" opportunity.  To balance this effect, you can introduce eight stalks of bamboo, to foster wealth and abundance, and always keep the toilet seat closed!

Your kitchen is an intregal part of your home.  Consider what colors you use, since they have strong affects on Qi.  In kitchens, you should refrain from using red, black, or greens as your dominant color.  Instead, choose shades of yellow, which is said to aid digestion.  Kitchens are the source of our literal nourishment as people, so it's doubly important that this room be well balanced.  Does your stove face you toward a wall?  Consider hanging a mirror behind the stove, so that you can see behind you.

Finally, to bring in extra life to this important room, introduce bowls of fresh fruit or some flowering house plants.

Another important room is the bedroom.  This is not a room to house a TV or exercise equipment, instead make it a relaxing and inviting space.  Choose appropriate lighting for this space, such as lights on a dimmer, or candles, and pick soothing earthy colors as beige or taupe.

Feng Shui is a complicated study that includes many more intricacies, than what were discussed here.  If you are interested in creating more balance in your home, be sure to extend your study by checking out books and informative websites.  Your home will thank you.

It's a tool used by house flippers all across the nation.  Stagers know its power, and real estate agents push its importance.  What is this not so well kept secret of real estate?  A kitchen can sell a home.

A kitchen is the heart of a home.  Kitchens are where we spend much of our time and most of that is with our families.  It is the room where we nourish our bodies and our spirits.

Kitchens are integral to entertaining and in today's age of open floor plans, they are a focal piece of many family rooms.  It's because of this, that kitchens play such an important role in the buying and selling process.

This one room is the showpiece of the house.  You'll see it every day and your guests will see it during most visits.  This means buyers want homes with up to date kitchens.

Kitchens, however, can be one of the most expensive rooms to revovate.  These projects can also be the most labour and time intensive of all home renovations.  It's just not a new layer of paint.

Instead, you find a complicated array of flooring, tiling, cabinest, and counters.  This means buyers may want a home with an up to date kitchen, but they aren't willing to tackle this problem themselves.  Most buyers want a kitchen that is ready to use, the day they move in.

What do buyers look for in up to date kitchens?  A lot of this depends on what price range your home is in.

The main thing to remember as a seller, is to not price yourself out of your market.  If homes in your neighbourhood are selling 400,000, with tidy, but not luxury kitchens, then this is no time to upgrade to granite, travertine and marble, at the price tag of $40,000 plus.  You simply won't find a buyer.

Scope out the competition.  Use open houses in your area or MLS listings to find out what your competitions' kitchens look like.

Do area homes have new solid wood cabinets and granit counters in todays designer colors?  You'll be wise to consider making the same move.  Are they including new stainless steel appliances and add ons like dishwashers, wine coolers and trash compactors?

Are you in a higher end neighbourhood?  It's time to think  high end.  Your older home may have a highly functional kitchen, but a buyer will take one look at your formica counters and white appliances and become lost in the stress of how much money and time it would take to remodel.  If you don't want to put in the time yourself, to make upgrades, then you'll have to make concessions in the price.

Don't become overwhelmed though.  Sometimes a kitchen update can mean doing just a few minor changes.  Change the paint color to a warm, neutral tone.  Get rid of any clutter.  Update your appliances, paint your cabinets, change the pulls, or get a high end looking counter for a fraction of the cost (faux granite or lower end granite).

The bottom line is a kitchen can sell a home.  Do a little research and find out what your kitchen needs to make it competitive with area listings.

If you are wondering what you can do, I can also have a look at your kitchen and give you some pointers on how to spruce it up.

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Many of you will be considering placing your home on the market in the months to come.   The Spring market is typically a busy one, as buyers want to get settled into their new homes before the start of summer, and sellers want to showcase their properties as best they can, by waiting until flowers, shrubs etc. are in bloom.

While the curb appeal of your home is very important, (as this is the first view of a home a potential buyer will see, and will base their decision as to whether they want to go further), what buyers see on the inside is also important. 

I will be blogging about ways to get your home in tip top condition, so that yours will stand out from the others in your neighbourhood.  That means more money in your pocket, with less time on the market. 

We will start off with the 1st question a seller will likely ask, and that is "How Does My Home Compare to Others on the Market"?

Real estate agents use comparable sales, which are properties which have recently sold in the area, to see what the market bears for a listing price. What makes a home a good comparable?  There are several things to consider when justifying the list price.  The same neighbourhood, school district, similar street, and, of course, similar home features and size.

Ideally, using a home from the same subdivision that is of similar size, both in square footage of house and lot is ideal.  Even better if that home sold recently.  The state of the real estate market will dictate how far back a comparable can be used.

The expertise of a highly knowledgeable real estate agent can save you many hours of research and headaches.  Most people don't really know how to compare real estate properties, which is why they hire an agent.  Good agents take the work out of selling your home and give you solid reason to understand why the agent is pricing the home at a particular price.

Location, upgrades, amenities, time of year listed, all affect the listing price and how your home compares to another.

Taking a closer look at each of these shows exactly what people in your area might be looking for when it comes to buing a home.  For instance, a higher price on a home that has a pool can indicate that this is a family neighbourhood, and buers put an increased value on amenities that create family/social fun.  Your home may not have a pool, but it might have another type of amenity, such as a tennis court, gym or putting green.

Agents look at both what is similar, and what makes your home stand out.  They search for the best characteristics to showcase and, when comparing your home to others that have sold, they look to see how yours stacks up from a buyer's perspective.

Agents can add value to a home that might not have, say, for instance, the pool.  Instead, your home might have an extra bedroom or den, complete with floor-to-ceiling, high quality bookcases.

Reviewing the comparables can provide a lot of insight about sales in your neighbourhood. Physically viewing the properties can be even more eye-opening.  Agents who routinely work in the neighbourhood may have an excellent grasp of which homes will sell fastest.  It's not a lucky guess.

They've been inside these homes and have seen the notable upgrades or the tragic flaws of a home.  They also know which homes were foreclosed, had grow ops, or have been rented out.  If a comparable is used from one of these types of sales, your agent will take careful consideration to evaluate the distinct differences that may increase the value, and ultimately, the listing price of your home.

Sellers were more active than buyers in January, as prices stabilized and sales dropped, according to a monthly report released Monday by the Real Estate board of B.C.

"We're seeing trends emerge in our market that favour buyers, such as increased selection and more stability in pricing, compared to this time last year," REBGV president Rosario Setticasi said.

According to the report, sales reached 1,577 in January 2012, a 4.9% decrease, compared to the 1,658 sales in December 2011, a 13.3% drop from the 1,819 sales in January 2011, and an 18% decline from the 1,923 home sales in January 2010.

January sales were also the second lowest January total in the region since 2002, although just 146 sales below the 10 year average, according to the report.

The benchmark price (the price of a typical property) for all residential properties in Metro Vancouver, was $660,600 in January, up 5.7% from January 2011, and down 0.1% from December 2011.

If you are considering buying, it might be a good time to get serious about it.  We will be heading into our Spring market in the next month or so, and you might save yourself some considerable money, making a purchase while there is still good inventory levels, and prices are relatively stable.  Drop me a line at 604-308-7884

If you are thinking of doing some renovations in the year to come, here is some information that you might find helpful, when you are trying to decide where to start.

The top renovation projects in 2011 were:

1.   Kitchens                                48%

2.   Bathrooms                            46%

3.   Landscaping                        39%

4.   Basements                           38%

5.   Exteriors (roof, windows)   36%

6.   Bedrooms                             25%

7.   Family Rooms                      21%

8.   Dining Rooms                      11%

9.   Additions on the home           7%

10. In ground pools                       2%

It is important to understand that not all renovations will deliver the same return on a homeowner's investment.

According to the AIC (Appraisal Institute of Canada), the renovation projects that resulted in the greatest return on investment (ROI) were as follows:

1.   Kitchen and Bathrooms                   ROI = 75-100%

2.   Interior Painting                                 ROI = 50-100%

2.   Finished Basements                       ROI = 50-75%

4.   In ground pool and skylights          ROI = 0-25%

Clearly, an interior paint job, based on the cost of such a renovation, is going to give you the best return on investment, especially if you are able to tackle this project yourself!   Although every woman loves a nice new kitchen...and face it guys...it is the woman who buys the house (unless you are a chef), it is a good idea for a seller to think seriously about overhauling an old and tired kitchen.  This doesn't always have to cost an arm and a leg to do.  Check out some DIY books, as there are many things you can do to make your kitchen "fresh", without breaking the bank.

I can also help you with some suggestions.  Drop me a line, if you are thinking of selling your home in the near future.

604-308-7884.

A small article in today's Vancouver Sun, tells of a former grow operation in a home in the 1200 block of Mellis Drive in Richmond.  The said home has now been sold under the Controlled Drugs and Substances Act, with a $266,000 profit!!

While I agree, these homes should be seized, I do not agree that they should subsequently be resold, whether it has been remediated or not!  I feel they should be bulldozed, and resold as vacant lots.

As a realtor, I have never advocated the purchase of a former grow op, for several reasons:

1)  A certificate of remediation from the city does not guarantee there are no longer issues in the home.  There could very well still be mold issues that no one caught, or it was at a stage where it couldn't be found at the time of remediation.

2)  Any person(s) who purchase these kinds of homes, now have to disclose the fact that is was a former grow op. This does not stop at the first sale after remediation.  It continues for the life of the home.  That disclosure must be passed along no matter how many times it changes ownership!

3)  This reason is the absolute #1 reason that I will not sell former grow ops.  SAFETY OF SUBSEQUENT OWNERS!!. We have heard horror stories about new owners experiencing home invasions and drive by shootings by former clients of the previous "business", when these so called clients were not aware of the change of ownership. 

The fact that these homes are being resold (and for a profit to boot!) is very concerning to me.  The fact that it is the government that is doing this is even more concerning.  This practice needs to STOP.   There will be people who will get injured, or worse, killed by this practice. 

Lets get this viral if you agree with me.  

Please leave your comments.

Thank you.

Did you buy a home last year?  Have you owned your home for a decade?  Do you have an accurate idea of how much equity you really have in your home?  If you were to sell today, do you know how much cash you'd have available moving forward?

Understanding the true equity you have in your home is a vital part of understanding your complete financial picture.  You may have a vague idea of what you think your home is worth, but do you really know?  And if you're not sure, can you really be sure of your equity?

I often help clients get an accurate picture of their home equity through a 3 step process:

First, I use a comparative market analysis to establish a probable range of sale prices for your home.  This takes into account recent closings, as well as the unique features that your home has to offer a potential buyer.

Second, we look at your current loan and any other outstanding obligations which must be settled from the proceeds of the sale.

Third, I take into account any other fees or expenses incurred during the sales process, which would impact the free equity in your home.

Whether the actual equity turns out to be $1,000 or $100,000, my clients find a certain peace of mind knowing exactly where they stand.  The facts can help them plan for the future and make decisions about whether or not now is a good time to make any changes.

Are you curious about your home equity position?  Contact me if you'd like to learn more.

Sharon Hollas

604-308-7884

shollas@shaw.ca

Bite of the Rock Returns to Celebrate its 6th Year

White Rock, BC:  Residents and visitors are invited to come out and 'Taste the Flavors' of White Rock, January 16 to February 7th, 2012.

Bite of the Rock returns for its 6th year, showcasing local restaurants and dining experiences.  This year includes special waterfront hotel offers and live entertainment at most of the participating restaurants.

The 6th annual restaurant festival presented by the White Rock Business Improvment Association, features three course menus from $15.00, $25.00, $35.00 and $45.00, at eateries located throughout White Rock.  This is a fantastic event to encourage to 'Eat Down the Street' for White Rock residents and nearby locals, or anyone else for that matter,  to venture from home for an affordable evening out!  Diners have the opportunity to sample menus from over 20 White Rock restaurants.  From fine dining to international cuisine, to meals for the whole family, there is something for everyone to choose from.  Many of the participating restaurants also include live entertainment on select evenings.

Why not make a night of it and stay at the Ocean Promenade Hotel, with the Bite of the Rock promotional offer of $99.00!

For a list of participating restaurants, menus and further details, please visit www.inwhiterock.com

Parking on the strip is now at 1 dollar per hour for the winter months!

Please tell us about your favorite restaurant in White Rock or South Surrey, and why you like it.

Thanks

This is an article by Deb Abbey, contributing writer - January 16, 2010

2012 brings long awaited reform to the Strata Property Act that will provide greater security for more than one million strata property owners in the province.

But the biggest beneficiaries of the new regulations will be prospective buyers.  Buying a condominium is a complex process in B.C., with buyers and their real estate agents playing the role of real estate detectives, trying to suss out information about the state of the building envelope, or running down maintenance and engineering reports, trying to assess the true value of the property given any potential liabilities.

Until now, there haven't been many, if any, safeguards for purchasers of condos that have been badly built or managed by their owners.  Poor maintenance, inadequate or no budgeting for future repairs and replacements, and little or no transparency in terms of liabilities are issues with many strata corporations in Vancouver. That is about to change.

Among the changes, strata corporations will be required to prepare a depreciation report.  The report will include a physical inventory of the stratas common property, including building systems such as the building envelope, roof, pipes and boilers.  The report will also include an estimate of the cost of anticipated maintenance, repair and replacement of those common property items, projected over 30 years.

And most important to prospective buyers, the strata corporations will be required to prepare financial forecasts of how the strata will fund those expenses from the contingency reserve fund or special levies.  The report will have to be updated every three years and include an onsite inspection.  The new regulations will be effective immediately, but stratas will have two years to comply.

As a potential buyer, you'll be provided with a copy of the most recent version of this report, along with the Form B.  Unfortunately, there's a catch.  Short sighted stratas will be able to exempt themselves from this requirement with an annual 3/4 vote.

"As a real estate agent, I hope that our industry widely adopts this report as a tool to assess risk and attribute value to the quality of management in strata corporations.  Given the opportunity to buy or own a property that has future risk quantified and accounted for this way, I know that I'd recommend those properties that have depreciation reports, to my clients".  The old adage, "if you don't measure it, you can't manage it" has never been more appropriate.

Contingency reserve funds (CRF) have also gotten a boost from the new regulations.  In the past, a 3/4 vote was required to make contributions to the CRF, if it already exceeded 100% of the annual operating expenses.  The new regulations will allow strata corporations to make additional contributions to the CRF, once it reaches 25% of the annual operating expenses, with a simple majority vote, as part of the budget at the AGM.

This may sound like an insignificant bit of regulation, but many stratas with looming expenses, such as new roofs, windows or re-piping, do not contribute enough to their CRF's to cover those costs and then have to levy signifiant special assessements that have condo owners rushing out to secure second mortgages.

And, finally, there will be regulations requiring Form B to provide better disclosure to new strata owners.  As of March 1, the rules and current budget of the strata corporations, Form J (the Rental Disclosure Statement) and the most recent Depreciation Report, will have to be attached to the Form B.  The amendments will also require disclosure of how parking stalls and storage lockers are allocated to strata lots.

The changes fall short of the recommendations put forward by the British Columbia Real Estate Association and others.  They don't go nearly far enough in insulating prospective buyers from badly build or managed condos, but they will increase accountability and transparency for owners and potential buyers.

There's bound to be some fallout from these regulations.  The requirement to provide the depreciation report will be financially onerous for some strata corporations, especially those with owners who qualified for mortgages with a minimum down payment and are just barely able to pay their strata fees as it is.

In terms of the market, I expect mortgage insurers and lenders will quickly adopt guidelines that give preferences to strata corporations that are measuring and managing their risks.  Over time, this will mean strata buildings that provide more disclosure will sell at a premium to those that don't, and they'll be worth it.

(Deb Abbey is a real estate agent at Royal LePage City Centre in Vancouver.  She is the author of two best-selling books on Sustainable Investment.  You can contact Abbey through her website: www.abbeypartners.ca, or email any questions or comments to deb@abbeypartners.ca.

Please leave your comments on this article here as well, and if I can help you with your real estate needs in White Rock, Langley, or Surrey, please contact me direct at 604-308-7884

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%, compared to 2010, pushing prices down slightly, while in South Surrey/White Rock, sales increased year over year by 45%, resulting in double digit price increases".

The Board's Mulitiple Listing Service processed 15,529 sales in 2011, compared to 14,891 the previous year, an increase of 4%, while the number of new listings remained about the same at 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%, going from 8,139 properties in December 2010, to 7,399 in December 2011.

Although 2011 ranks the third slowest year for sales in the Fraser Valley since 2002, it was only 10% less than the 10 year average of 17,210 sales.  The volume of new listings received in 2011 was 6% 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%, compared to $506,145, in December 2010, and a decrease of 1.7% compared to November.

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

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

Well folks...it's time for that little piece of paper to arrive in your mailbox, to tell you if your property value has gone up or down!  Some folks will be happy, some not so much.  Sellers in the lower mainland will be happy to hear that everything has gone up!  Buyers will not be happy to pay more. 

To give you some information as to what's gone up, and what's gone down, there is little to report in the way of what has gone down, unless you are looking to purchase in Whistler or Squamish, and maybe Kelowna.

Following are some of the areas, and the percentage of increase.  These numbers are not indicitive of the whole city.  I'm guessing they have chosen the neighbourhood with the highest increases.

West Vancouver - Ambleside                    Increase of 27%

North Van. Dist. - Delbrook                                             15.88%

Vancouver - East Side                                                       26.35%

Burnaby - Westridge                                                          9.6%

Coquitlam - Central Coquitlam                                       4%

Port Moody - North Shore                                                  5.2%

Port Coquitlam - Citadel Heights                                    3.7%

Richmond - Shellmont                                                      18.5%   

Delta - East Ladner                                                             3.3%

New Westminster - Glenbrooke                                       5.16%

Pitt Meadows                                                                        1%

Maple Ridge                                                                         1%

Langley Township                                                               1.6%

Langley City                                                                           1%

Surrey - Guildford                                                                  5.8%

White Rock                                                                             10%

There is no doubt that the areas with the highest increases, also saw the influence of of Mainland Chinese buyers, who helped fuel the markets in these areas.  

Whether you are happy or not happy about your upcoming assessment, please bear in mind that the value of the assessment is based on what your property may have been worth, had it been on the market in July of 2011.   The market has changed since.  We are seeing many more price reductions, at least in some areas outside of Vancouver Proper.   What we also see though, is that there  were a lot of new listings coming on the market in the fall, which put a downward pressure on pricing, also known as more supply, less demand.   Over the holidays, there were much fewer listings coming on stream, and we are now seeing homes that have been sitting on the market for 90 days or more selling presently.  That tells me that we are "eating" through the fall inventory, and with fewer homes coming on the market (because many people like their yards looking pretty before putting it on the market), this will put an upward pressure on pricing once again.  Then come spring, when the push on listings start again, we see a jump in inventory.  If there are not enough buyers for these homes, it will once again put downward pressure on pricing.  It truly is all about supply and demand, as to which way home prices will go.

If you are looking to buy or sell, give me a call....It's free!      

On Sunday, December 18th from noon until 4pm, the White Rock Business Improvement Association and the merchants of West Beach are preparing for its free holiday celebration "Christmas at the Beach", which includes Christmas Carolers and a horse drawn carriage.  In partnership with Sources Community Resources, we will be hosting a hot chocolate and goodies tent.  For every donation or non perishable item given, visitors will get a free hot chocolate and treat.  Alll donations received will be given to the White Rock Food Bank.

There is also a Christmas Craft for all kids young and old to take home.  The Craft Station wil be at Seaside Scoops, 14893 Marine Drive.

Don't forget to visit Santa!  Santa and his Elf have arrived at the White Rock Museum & Archives!  Photos with Santa and White Rock's original fire truck are available from noon to 4pm.  Cost of the photo is $10.00, with all the proceeds benefiting the Museum.

The Fraser Valley Real Estate Board, which includes Langley, Surrey, White Rock, Delta, Abbotsford and Mission reports steady demand for homes heading into the holidays.

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 Mulitiple Listing Service, an increase of 3%, compared to the 1,084 sales during the same month last year, and a decrease of 2% compared to 1,139 sales in October.  In the last decade, sales decreased on average, 9% 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% in one month and in Langley by 43%". 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, which is typical for this time of year. The board posted 1,926 new listings in November, and increase of 9%, compared to November of last year, and a decrease of 23%, compared to October.  November finished with 9,471 active listings in the Fraser Valley, 5% more than the same month last year, and 5% less than October's 10,005 llistings.

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 condo are down year-over-year and month-over-month, while both single family detached and townhomes are still showing positive price gains compard 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%, compared to $504,848 in November 2010, and an increase of 0.3% compared to October.

For townhouses, the benchmark price in November was $327,764, an increase of 2.5%, compared to the same month last year when it was 319,623, and up 0.7% compared to October.  The benchmark price of condos in November was $238,461, a decrease of 1.6% compared to November 2010, and a decrease of 2.2% 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 it's 90 year anniversary this year.

HAVE QUESTIONS?  CONTACT ME FOR FREE REAL ESTATE ADVICE WITH NO OBLIGATION.

If you are a resident of White Rock, and own a dog, I'm sure you share the frustration in the fact that White Rock has no place to walk and exercise our furry friends.  With the closure of Semiahmoo Park last year, along with the city doubling our dog licence fees,  dog owners feel that it is unfair for us residents of White Rock, who pay high taxes to live here, to be forced to drive our pooches to Surrey to let them off leash.

A fellow by the name of Mike Armstrong is on a crusade to change that.  He has started a website, where residents can sign up as members for free, so that we can all voice our opinions and share pictures of our pets.  Please visit Mikes website at www.dogwhiterock.com, and join the fight to make White Rock dog friendly!

Did you ever think that it was pointless or a lot of hassle to list your home over the holidays?

You may want to rethink that.  Here are 11 reasons to list now.

1.  People who are out shopping for a home during the holidays are more serious buyers!

2.  Serious buyers have less homes to choose from during this time. Less competition means more money for you.

3.  Many people from overseas come to visit family and friends during the holidays. Some of these visitors will buy real estate. Why miss these buyers by not being on the market?

4.  Houses show better when decorated for the holidays!

5.  Buyers are more emotional during the holidays, so they are more likely to pay your price!

6.  Buyers have more time to look for a home furing the holidays than they do during a working week.

7.  January is traditionally the month for employees to begin new jobs.  Since transferees cannot wait until Spring to buy, you must be on the market now to capture that market.

8.  You can still be on the market, but you have the option to restrict showings during the six or seven days during the holidays.

9.  You can sell now for more money and provide for a delayed closing or extended occupancy until early in the next year.

10. Since the supply of listings will dramatically increase in the New Year, there will be less demand for your particular home!  Less demand means less money for you!

11. By selling now, you may have an opportunity to be an "all cash, no subjects" buyer, whereas during the Spring, when many more homes are on the market, this is less likely to happen and more product either stabilizes prices or drives them down!  This will allow you to sell high and buy low!

HOME SALES IN FRASER VALLEY HOLD STEADY IN AUGUST

(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.

Information and photos of all Fraser Valley Real Estate Board listings can be found on the national, public web site www.REALTOR.ca. Further market statistics can be found on the Board’s web page at www.fvreb.bc.ca. The Fraser Valley Real Estate Board is an association of 2,916 real estate professionals who live and work in the communities of North Delta, Surrey, White Rock, Langley, Abbotsford, and Mission.

Fraser Valley’s industrial real estate market is about to get a very big boost. The Omni Company is building what will eventually be the second largest industrial park in British Columbia. The Kingswood Industrial Park in Richmond tops that list. Called the Golden Ears Business Centre, the first building, offering 75,000 square feet of space, just opened. The second, larger building, measuring 110,000 square feet is already under construction and set to open sometime late in the summer of 2011.

The industrial real estate picture has been flat in this area for at least a couple of years. John Middleton, who is a senior manager with Omni, notes that his firm bought up the land about 18 months ago, during this slow period. It was a good move, since their buildings are coming up for lease just as businesses gain confidence in the economy. Landlords are still offering incentives on leases, but as the inventory tightens the price of industrial space will inevitably go up.

More leases are being signed in the Fraser Valley area and the vacancy levels are dropping. In 2009 there were 146 lease transactions valued at $191 million. The following year, 2010, saw 155 transactions for a total of $194 million. These figures are from Citing RealNet Canada, and come with a disclaimer stating that in 2010 the lease activity was affected by a lack of inventory. The report predicted an even better 2011, but had no specific figures.

Vancouver natives Jonathan and Drew Scott are generating a lot of excitement on television.  One reason is that the identical twins are major eye candy.  The other is that they just launched a TV show called “Property Brothers.” 

The show premiered on the W Network in early January.  It features how the brothers work with couples on finding homes that are candidates for great renovations.  Many people want spectacular houses, but do not have the budget to buy them.  The Scotts show how some sweat equity and capital infusion can transform an ugly duckling with “good bones” into a dream home.

The 32-year-old brothers say they are amazed at how little it takes to improve the appearance and resale value of a home.  In many cases, simple projects such as de-cluttering, removing old wallpaper and a coat of paint can make a huge difference.

Participants in the reality show receive $10,000 toward their home’s renovation as well as $10,000 worth of consultation from the twins.  Companies, eager to have their brands seen and used on the show, donate around $25,000 worth of free products. 

The show’s first 13 episodes were filmed in and around Toronto.  However, the Scotts are hoping to film more shows in other areas.  They are especially interested in working on houses in Vancouver, where the pair owns several properties.  

Drew, a realtor, and Jonathan, a contractor, moved from Calgary to Las Vegas.  Before that, they graduated from Maple Ridge High School, received their industry licences and began working in the then-hot Calgary real estate market.

The Edgewater Casino that currently sits on False Creek is smaller and may not be able to renew its lease past 2013. Employees also attended the council meetings, but they were in support of the proposal. The new casino would mean that they would keep their jobs. But the landlords of the current casino advised that Edgewater may be able to get their lease extended for at least a short term contract, or move the operation elsewhere.