September 29, 2012
Feng shui a mystic force in Vancouver real estate
Special to The Globe and Mail
Published Saturday, Sep. 08 2012, 8:20 PM EDT
Last updated Wednesday, Sep. 12 2012, 12:46 PM EDT
For a realtor trying to survive the currently sluggish market, there might be no sight as disheartening as that of the unyielding feng shui master who shows up with the buyer to assess the property.
The master, is, after all, probably going to get the last word.
The ancient Chinese practice of feng shui, which is, roughly, about creating a harmonious environment, can have a major impact on a sale in the Lower Mainland. Feng shui master Johnson Li knows all about that, having shot down many a potential purchase.
Mr. Li has been a feng shui master since arriving in Vancouver 20 years ago. He...
September 28, 2012
Canada’s housing market expects slower growth as global sales continue decline
By Susan PiggBusiness Reporter
Housing markets continue to hurt in much of the world with the list of countries seeing price declines outnumbering those with price increases by two to one, according to the latest Scotiabank Global Real Estate Trends report released Friday.
“Weak consumer confidence, high unemployment and tight credit conditions continue to weigh heavily on housing demand and pricing,” says Adrienne Warren, senior economist at Scotiabank.
The Canadian housing market remains “relatively buoyant,” the report notes, although it’s “shifted to a slower growth trajectory.”
Canadian house prices fell two per cent in the second quarter of 2012 over the same period a year ago, the report says....
September 28, 2012
New property listed in Citadel PQ, Port Coquitlam
I have listed a new property at 1040 FRASERVIEW ST in Port Coquitlam.
Virtual Tour!! http://www.imagemaker360.com/121576
Spacious elegantly fin ranch style home w/ full bsmt & S/C or 2 bdrm ste, exceptionally clean & well maint, nothing to do but move in. Bright open floor plan w/ brand new Brazilian Cherry H/W flrs thru-out the kit, E/A & sep formal diningrm. Lots of updating incl fresh paint, new light fixtures, hardware & 6" baseboards & refin cabinets throughout. Beautiful big master w/ vaulted ceilings & an elegant 5 pce ensuite w/ soaker tub & raised white cabinets. Big bright kit w/ tons of cupboards & counter space & lots of windows to take advantage of the gorgeous view of the valley...
September 27, 2012
4 Big Design Turn-offs of Home Buyers
By Melissa Dittmann Tracey, REALTOR® Magazine
Certain dated design features in a home can really make some home buyers cringe. Could your listing have one of them?
A recent article at AOL Real Estate spotlights a few pet peeves of home buyers when touring homes today. Among the items making their list:
1. Popcorn ceilings: The speckled ceilings can attract dirt and be impossible to paint. Plus, if the home was built prior to 1980, the ceiling may contain asbestos and need to be tested by an inspector. Fix it: Unfortunately, there’s no quick fix for removing popcorn ceilings; it can get messy. It’ll have to be scraped off and the ceiling then will need to be repaired. Plus, you’ll want to have it...
September 26, 2012
Canada's housing crash begins
By Joe Castaldo | September 24, 2012
Last spring, Keith Roy noticed his phone wasn’t ringing so often. The Vancouver real estate agent typically booked at least 10 showings a week for the properties he sells in the city. But requests gradually slowed to a trickle. Something was up. His suspicions were confirmed as he watched the market data roll in. On the desirable west side of Vancouver, which Roy considers a bellwether for the region, home sales fell and listings rose. This continued for four straight months. In July, Roy took to his blog to issue an unusual proclamation for a real estate agent: anyone thinking about selling should cash out now. By then, Roy had even sold his own home, convinced it was about to decrease...
September 25, 2012
Rate Hikes May Be Needed, But Do Canadians Have Enough Wiggle Room?
Sept 6 2012 by By Nirmala Menon
Canadian Finance Minister Jim Flaherty’s recent move to tighten mortgage rules may have taken some froth off the housing market and tempered demand for credit, but Bank of Canada Governor Mark Carney will still have to hike rates to deal with financial excesses in the household sector, economists at Toronto-Dominion Bank sa TD.T -0.07%id Thursday.
The government tightened mortgage insurance rules this summer for the fourth time since 2008. Before Mr. Flaherty announced the measures, TD had expected house sales and prices to correct around 10% starting in mid-2013,...
September 25, 2012
A Black Dot Problem
Posted by Ryan Alty
One person quickly replied, "I see a black dot."
"Okay, what else do you see?"
Others joined in agreement : "A black dot."
"Don't you see anything besides the dot?" she asked.
A resounding "No" came from the audience.
"What about the sheet of paper?" asked the speaker. "I am sure you have...
September 21, 2012
More mortgage changes, this isn’t good
If the changes from July didn’t cripple the market enough, wait, there’s more! This week more Federal changes took effect but some lenders are taking it even further.
I have spoken with a number of realtor friends in the industry recently and not even one has said they have seen it this bad before, ever. This Summer’s changes literally placed a huge wall in front of the road of home sales required to keep the market from crashing. Don’t get me wrong, Vancouver is way too over-priced and prices do need to come down but this seems a bit much.
The following are a number of changes implemented by some major lenders this week:
- LOC’s (line of credits) were lowered to a maximum of 65% LTV (loan to value)
- Stated income (when...
September 20, 2012
Big City Soul At The Admiral Pub This Fri & Sat !
Big City Soul is getting ready to lay down the grooves at the Admiral Pub on Friday & Saturday nights, September 21, & 22 from 8pm - 12am. No cover, dancing required! Hope to see you all there! 4125 E. Hastings St., Burnaby, BC V5C 2J3
There Ain't No Party Like a Big City Party!!
Become a Big City Sould FB Friend http://www.facebook.com/BigCitySoul , if you get a chance, check out the New BIG CITY SOUL Web Site. www.bigcitysoul.ca Lots to look @ & Listen to.
September 20, 2012
I have sold a property at 19095 MITCHELL RD in Pitt Meadows
I have sold a property at 19095 MITCHELL RD in Pitt Meadows.
Nice flat piece of Development Property in the heart of Pitt Meadows just around the corner from elementary school, City Hall, the new Public Library. Value in the Land Only. OCP indicates multi-family, 30 to 100 Units per Net Hectare. Vendor to retain a 65 x 125 lot in the front south west corner of the ppty, leaving 1.43 acres or .5803 ha. for development.
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