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Our first real estate workshop for women, held on Tuesday, October 27th at Trout Lake Community Centre in East Vancouver went well and provided attendees with some invaluable information on the current real estate market.
 
Laura Stein, of the Mortgage Centre, with 17 years experience as an independant mortgage broker, had tons of great advice for everyone and answered questions about qualifying for a mortgage in an informal and informational 90 minutes. She had so much info to share, she left me with a mere 30 minutes for my portion of the workshop! I spoke on the direction of the market, presented some of the perks for first time buyers, and answered questions on how to get started.
 
Laura and I have worked together for the last couple of years and she is one of the most honest, up front people I know. Together, we provide you with a powerful, trusted team for your home buying experience.
 
We plan on holding additional workshops to help empower women and build confidence for first time or experienced buyers. Contact me if you want to be notified of the next Real Estate Workshop for Women.
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Please visit our Open House at 110 KOOTENAY ST in Vancouver.
OPEN HOUSE: Sun. Oct. 18th 2-4
Vancouver Heights 1922 charmer oozing with character throughout, perched high on a corner lot with lovely NW views. 3 bedrooms, easily 4, featuring original fir floors, new main kitchen with granite counters & breakfast nook, new main bathroom with soaker tub & heated floors, all new electrical & plumbing, HE gas furnace, air filtration system, double glazed windows. Unfinished garden level basement with separate entrance, good height & fantastic suite potential. Open House: Sun, Oct 18, 2-4 PM.
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Please visit our Open House at 110 KOOTENAY ST in Vancouver.
OPEN HOUSE: Sun. Oct. 11th 2-4 pm
Vancouver Heights 1922 charmer oozing with character throughout, perched high on a corner lot with lovely NW views. 3 bedrooms, easily 4, featuring original fir floors, new main kitchen with granite counters & breakfast nook, new main bathroom with soaker tub & heated floors, all new electrical & plumbing, HE gas furnace, air filtration system, double glazed windows. Unfinished garden level basement with separate entrance, good height & fantastic suite potential. SNEAK PEAK Fri Oct 2nd, 6-7 pm. OPEN HOUSE Sat & Sun Oct 3rd & 4th, 2-4 pm.
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Buyer Demand Remains Strong While Home Listings Increase

Greater Vancouver home sales remained strong last month, with the second highest number of residential sales ever recorded for the month of September.

 
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver totalled 3,559 in September 2009, an increase of 3.4 per cent from the 3,441 sales recorded in August 2009, and an increase of 124.5 per cent compared to September 2008 when 1,585 sales were recorded.

 

“As homes sales in Greater Vancouver continued at an elevated pace in September it’s encouraging to see that more homes were listed on the MLS® in the month than any other so far this year,” Scott Russell, REBGV president said.

 
New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,764 in September 2009. This represents a 6.2 per cent decline compared to September 2008 when 6,142 new units were listed, but a 26.8 per cent increase compared to August 2009 when 4,544 properties were listed on the Multiple Listing Service® (MLS®) in Greater Vancouver.
 
At 12,596, the total number of property listings on the MLS® increased 5.5 per cent in September compared to last month and declined 36 per cent from the 19,852 homes listed for sale during the buyer’s market that was experienced at this time last year.

 

“During this period of renewed demand in our marketplace, home values have gradually recovered from the declines that occurred in 2008,” said Russell.

Since the beginning of the year, the MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver has increased 13 per cent to $547,092 from $484,211, while home prices compared to Septembers 2008 levels are up 1.6 per cent.

 
Sales of detached properties increased 160.6 per cent to 1,423 from the 546 detached sales recorded during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties increased 2.1 per cent from September 2008 to $741,632.
 
Sales of apartment properties in September 2009 increased 94.9 per cent to 1,489, compared to 764 sales in September 2008. The benchmark price of an apartment property increased 1.5 per cent from September 2008 to $374,686.
 
Attached property sales in September 2009 are up 135.3 per cent to 647, compared with the 275 sales in September 2008. The benchmark price of an attached unit increased 0.4 per cent between Septembers 2008 and 2009 to $466,276.
 
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Try to Keep Up...

Rates are all over the place, changing almost everyday while lenders offer specials and deals on mortgages that fund within 30 days. The Bank of Canada is steady, which means that floating rates are still a great way to go.
 
The Australian Central Bank raised their rate today. There is speculation that this is the beginning of rates going up. There is no inflation on the horizon and so no real pressure for rates to go up here in Canada while the local Real Estate market continues to be very strong. 
 
             Bank Prime Rate 2.25%
Term
Best
Bank Posted
1 year
2.55%
3.75%
3 year
3.35%
4.65%
5 year
3.69%*
5.85%
10 year
5.20%
7.15%
25 year
9.25%
9.75%
 
 
 
 
 
 
 
 
 
 
 
*Strings attached to this rate!
 Bold numbers denote change from last posted rates.  
 
Variable mortgage from Prime...TODAY at 2.25%!
 

Courtesy of

Laura Stein - The Mortgage Centre
Telephone: 604-657-6535 ext 22
2

www.mortgagecents.ca

 

Call Laura today and tell her Lyn sent you!

Read

Please visit our Open House at 110 KOOTENAY ST in Vancouver.
OPEN HOUSE: Sat/Sun. Oct. 3 & 4th 2-4pm
Vancouver Heights 1922 charmer oozing with character throughout, perched high on a corner lot with lovely NW views. 3 bedrooms, easily 4, featuring original fir floors, new main kitchen with granite counters & breakfast nook, new main bathroom with soaker tub & heated floors, all new electrical & plumbing, HE gas furnace, air filtration system, double glazed windows. Unfinished garden level basement with separate entrance, good height & fantastic suite potential. SNEAK PEAK Fri Oct 2nd, 6-7 pm. OPEN HOUSE Sat & Sun Oct 3rd & 4th, 2-4 pm.
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Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.