January 29, 2014
Simon Fraser University 2013 A Year in Review
Happy New Year! I wish you and your families a healthy and prosperous 2014.
Another year has come and gone and what a year it is has been. There was significant media attention given to the real estate market in the Lower Mainland. It felt like not a day went by that some news outlet was reporting something about real estate. And it was not just about homes prices.
We have and continue to be told that Canadian household debt levels are at stratosphere highs and the government is concerned. New reports are suggesting that Canadians are deciding to save more...
January 26, 2014
The Bank of Canada keeps its trend-setting overnight lending rate
The Bank of Canada announced on January 22nd 2014 that it was keeping its trend-setting overnight lending rate at 1 per cent, where it has been held since September 2010.
Since the Bank’s last announcement in early December, inflation in Canada has moved even further below the Bank’s 2 per cent target. Moreover, the Bank indicated it is now expected to remain lower for even longer and not return to target for “about two years.”
The rising risk of lower inflation has been a theme since last fall. Since then, the Bank’s warnings about how rates will eventually rise have...
January 26, 2014
Bank of Canada maintains overnight rate target at 1 per cent
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.
Inflation in Canada has moved further below the 2 per cent target, owing largely to significant excess supply in the economy and heightened competition in the retail sector. The path for inflation is now expected to be lower than previously anticipated for most of the projection period. The Bank expects inflation to return to the 2 per cent target in about two years, as the effects of retail competition dissipate...
January 22, 2014
Hafez Panju: #1 Agent in 2013 at Office of 120+ Agents
As realtor we frequently say: you are only as good as your last deal. Meaning, ultimately it does not matter how well you do personally but that your clients received the service they deserved.
Once in a while there are certain accomplishments that one needs to take a moment to appreciate. If for no other reason but to reflect on how one was able to achieve it.
#1 realtor for 2013 at Royal LePage West Real Estate Services out of 120+ agents!...
A special thanks to my wife and kids, my assistant Debra and the rest of my family and friends for their support.
More importantly my...
January 22, 2014
Just Listed: 214 9339 University, Cr., Burnaby, SFU
Bright and Spacious
Show Suite Condition
3 Bed, 2 Bath, 1,196 SqFt
Prices at $418,800
214 9339 University
Harmony at the Highlands
Simon Fraser University, UniverCity
Bright, spacious & open layout are just a few ways to describe this home. This 1196sqft/3bed/2bath, corner unit is one of the larger plans in the Harmony complex. Your wait is over. Features: open living & dining rms, engineered floors,fresh paint, excellent room separation, spacious kitchen with eating area, SS apps & access to covered balcony. The large master has ensuite w/soaker tub & walk-in...
January 17, 2014
Canadian home sales moderate further in December
According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity posted its third consecutive month-over-month decline in December 2013.
- National home sales fell 1.8% from November to December.
- Actual (not seasonally adjusted) activity stood 12.9% above weak December 2012 levels.
- The number of newly listed homes dropped 4.3% from November to December.
- The Canadian housing market remains in balanced territory.
- The national average sale price rose 10.4% on a year-over-year basis in December.
- The MLS® Home Price Index (HPI) rose 4.3%...
January 13, 2014
BC Home Sales Bounce Back in 2013
The British Columbia Real Estate Association (BCREA) reports that a total of 72,936 residential sales were recorded by the Multiple Listing Service® (MLS®) in BC during 2013, up 7.8 per cent from 2012. The five-year average is 75,400 units, while the ten-year average is 84,800 units. Total sales dollar volume was $39.2 billion, an increase of 12.6 per cent compared to 2012. The average annual MLS® residential price in the province rose to $537,414 last year, up 4.4 per cent from 2012.
“After declining nearly 12 per cent in 2012, home sales...
January 10, 2014
December 2013 Housing Starts in Canada
Housing starts in Canada were trending at 195,760 units in December compared to 196,430 in November, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.
“The trend in housing starts has remained essentially stable since October 2013. Housing demand continues to be healthy in Canada. The trend in existing home sales has been increasing since April 2013, while the trend in inventories of newly completed and unabsorbed homes has...
January 6, 2014
Metro Vancouver housing market characterized by modest home sale and price increases in 2013
The Greater Vancouver housing market maintained a consistent balance between demand and supply throughout 2013.
The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2013 reached 28,524, a 14 per cent increase from the 25,032 sales recorded in 2012, and an 11.9 per cent decrease from the 32,390 residential sales in 2011.
“Home sales quietly improved last year compared to 2012, although the volume of activity didn’t compare to some of the record-breaking years we experienced over the last decade,” Sandra Wyant,...