NOVEMBER & DECEMBER HEADLINES

REAL ESTATE RESULTS

AMERICAN INTEREST & INTEREST RATES

A SEASONAL TRADITION?

LISTINGS & SALES

October & November 2004 Vancouver Real Estate Results

The Real Estate Board of Greater Vancouver (REBGV) reports that year-to-date sales for October 2004 remained relatively unchanged with a less than one per cent decrease in units sold compared to 2003. Sales of detached, attached and apartment properties totalled 2735 in October 2004, a decrease of 27.4 per cent from the 3766 properties sold during the same period in 2003.

“What we’re seeing is a stable market,” says REBGV President Andrew Peck. “Sales numbers for October 2004 were unheard of between October 1993 and October 2001.

“There is a good balance between home buyers and sellers that has resulted in less pressure on home prices,” Peck says.

“While benchmark prices increased in comparison to last year, we’re seeing less of a change in comparison to last month. To get a better understanding of what’s happening in your local market, consult your realtor.”

Download the October press release: CLICK HERE 

November press release: COMING SOON 

American Interest and Interest Rates

As the American President visits Canada for the first time this week, it is perhaps appropriate to reflect on how the recent US election has affected (or will affect) the property market in Vancouver, British Columbia and the rest of Canada.

I have heard speculation that September and October’s slowdown in the real estate market was part of an overall concern about stability from the investment community. As many people know, the market hates nothing more than instability and the impending spectre of yet another election without a decisive result fuelled the fears.

After an undisputed electoral victory (and I make no political allegiances or affectations in any way), it appears that stability has been assured within the investment community. This will perhaps lead to confidence in purchases within our real estate market as people feel comfortable spending large amounts on long-term investments like houses.

What has also occurred over the last few months is a sharp rise in the Canadian Dollar when compared to the US greenback. This is causing a murmur in financial circles as pressure is building on the Bank of Canada to hold off its expected interest rate hike on December 7.

Finally, many news reports following the Nov 2 election paid great attention to the increased number of hits to the Canadian Immigration Web site from the USA. Now it is too early to tell if this will have an effect on any local real estate market in unto itself; however, I must confess that I have had a few more Internet requests for information on how Americans can purchase property in our part of the world this past month!

Come on up, eh!  

A Seasonal Tradition?

One of the great seasonal traditions for anyone in real estate is the holiday slowdown. This is the time of year when Vancouver Realtors decide to take their annual break and attempt to catch what little sun they can to make up for the winter darkness. Maui, Mexico and Cuba seem to be the favourites of many Realtors of late!

With this exodus of Realtors, you may think that no business is done; however, this time of year can be a great time to be a Buyer. Many Sellers do not want to go into the new year having not sold their homes and wondering what to do in the New Year. This can result in a greater flexibility in price, time and other negotiation points.

 If you are looking to make a move on a property, you may want to take advantage of this time of year. For more information on how this may benefit your position, please call Kevin on 604-340-1267 or e-mail kevin@findaproperty.ca

Listings & Sales

SOLD! 2 bedroom + 2 den, view apartment in the thriving Lower Lonsdale area. Featuring 2 ensuite bathrooms adjoining large bedrooms, this unit in The Metropolitan is over 1000 square feet, and is situated on the bright, South side of the building.

For more information on this and other properties, please keep visiting Kevin’s Feature Listings section www.findaproperty.ca/listings/.

Kevin is also looking to sell homes throughout the North Shore and Vancouver’s West Side after a number of recent sales in area. 

If you are looking to sell your property, contact Kevin now. 604 340 1267 or kevin@findaproperty.ca 

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