October 28, 2010
Origin Update & First Time Buyer Incentive
Hafez Panju on Oct 28, 2010 1:46 PM
The Sales Team for Origin, one of two new projects at UniverCity reports that sales continued to be strong through fall with almost 50% of the building now sold out.
They have also recently announced a new First Time Buyer Incentive program:
- 10% deposit only (the typically deposit is 20% over an extended period of time)
- $6500 discount off the purchase price
- The program is on a limited number of homes so one must act fast
- ...
October 28, 2010
Canadian House Prices Record "Normal" Year-Over-Year Growth According to Royal LePage
Hafez Panju on Oct 28, 2010 1:31 PM
Third-quarter results show Canadian house prices appreciating at close to the longterm annual norm of five per cent per year.
Canada’s residential real estate market saw year-over-year growth in the third quarter as fears of a double dip recession or a housing bubble faded. According to the Royal LePage House Price Survey released today, house price appreciation slowed to a more modest five per cent in the quarter, which is historically typical of balanced real estate markets.
“Most Canadian housing markets cooled in the third quarter. In fact, the year is unfolding much as we...
October 20, 2010
Just SOLD for 98% of Asking in 15 Days!
Hafez Panju on Oct 20, 2010 11:15 PM
UniverCity at Simon Fraser
601 9188 University Cr. Burnaby, BC, V5A 0A5
Gorgeous like-new unit, offers breath-taking views of Burrard Inlet & privacy from adjacent green space. This exceptionally bright 2bed/2bath/1039sqft home features a spacious layout, fireplace, floor to ceiling windows, a large balcony, granite counters, stainless apps & so much more. The large master has walk-in & ensuite w/dual sinks, soaker & shower. Bonus custom closet organizers & cabinets add plenty storage. Altaire, Polygon built, offers balance of 2-5-10 warranty & fully equipped...
October 20, 2010
Bank of Canada maintains overnight rate target at 1 per cent
Hafez Panju on Oct 20, 2010 10:53 PM
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
The global economic recovery is entering a new phase. In advanced economies, temporary factors supporting growth in 2010 - such as the inventory cycle and pent-up demand - have largely run their course and fiscal stimulus will shift to fiscal consolidation over the projection horizon. While the Bank expects that private demand in advanced economies will become sufficiently entrenched to sustain the...
October 13, 2010
Market Conditions Beginning to Improve
Hafez Panju on Oct 13, 2010 10:54 AM
The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential sales in the province declined 36 per cent to 5,511 units in September compared to the same month last year. On a seasonally adjusted basis, MLS® residential unit sales in the province increased 2 per cent in September from August 2010. The average MLS® residential price climbed 4 per cent to $493,846 in September compared to the same month last year.
"BC home sales increased for the second consecutive month in September," said Cameron Muir, BCREA Chief Economist. "However,...
October 12, 2010
September Housing Starts
Hafez Panju on Oct 12, 2010 11:59 AM
The seasonally adjusted annual rate 1 of housing starts was 186,400 units in September, according to Canada Mortgage and Housing Corporation (CMHC). This is down from 189,300 units in August.
“Housing starts moved lower in September due to a decrease in urban single starts in Atlantic Canada and Ontario,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Multiple starts were unchanged.”
The seasonally adjusted annual rate of urban starts decreased by 3.3 per cent to 163,200 units in September. Urban multiple starts were unchanged in September at 99,600 units, while...
October 4, 2010
Housing market factors indicate stability in recent months
Hafez Panju on Oct 4, 2010 12:01 PM
September home sales in Greater Vancouver were consistent with activity experienced in the preceding two months across most categories.
The Real Estate Board of Greater Vancouver (REBGV) reports that the number of residential property sales in Greater Vancouver totalled 2,220 in September 2010. This represents a 0.8 per cent increase compared to August 2010 and 37.6 per cent decline from the 3,559 sales in September 2009.
In comparison, last month’s residential sales represent a 40.1 per cent increase over the 1,585 residential sales in September 2008, a 20 per cent decline compared...
