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Tuesday, March 31, 2009

I sold a property at 22964 DEWDNEY TRUNK RD in Maple Ridge

by Telf Maynard on Tue, Mar, 31, 2009 05:56 AM

I just sold a property at 22964 DEWDNEY TRUNK RD in Maple Ridge.

See details here

Escape is just a fenced backyard away! Entertain on a spacious deck overlooking evergreens. Freshly painted. Main floor updated baths. Plenty of parking for bigger toys (boat/rv). Fully finished downstairs. One year old roof. Two laundries.

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Monday, March 30, 2009

New property listed in Vancouver, BC

by Telf Maynard on Mon, Mar, 30, 2009 07:00 AM

Categories:Vancouver, BC Real Estate

I just listed a new property at Vancouver, BC.

See details here

This gorgeous travel trailer is perfect for your family's next vacation, and will comfortably sleep 4-6 people. The spacious Master Bedroom at the front of the trailer has a queen-sized bed, but would easily accommodate a king-sized bed. The kitchen table and living room sofa easily convert in seconds into two separate double beds.

Many features in the trailer can be powered by either propane or electricity, making it easier to "live off the grid". The forced-air furnace has vents at floor-level throughout the trailer and easily heats all rooms evenly. The ice-cold and quiet air conditioner has vents in the ceiling throughout the trailer and makes for very pleasant living on hot summer nights. The time to buy is now, before summer arrives and camper prices go up with the mercury. Start your new camping adventure today!

Features

· Double-Sink in Kitchen
· 4-Element Stove (Gas)
· Large Oven (Gas)
· Fridge with separate Freezer (Elec/Gas)
· Microwave (Elec)
· A/C (Elec)
· Forced-Air Furnace (Gas)
· 6-Gallon Hot Water Heater (Gas/Elec)
· Rouged-in Outside Shower
· Electronic Monitor for Fresh/Grey/Black Tank Levels
· LP Gas Detector/Alarm
· Kids bath (2' x 3')
· Shower
· Queen-Sized Bed in Master Bedroom
· Retractable TV antenna
Two ceiling vents and bathroom fan

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Friday, March 13, 2009

Surrey, Maple Ridge called best spots to buy property

by Telf Maynard on Fri, Mar, 13, 2009 09:25 PM

Categories:investors,news stories,Southwest Maple Ridge

Surrey, Maple Ridge called best spots to buy property

Access to transportation is a key to top picks, real estate consultant says

By Gordon Hamilton, Vancouver Sun - March 12, 2009

Despite a recession, declining home prices and slowing real estate sales, there are still towns in British Columbia that have the fundamentals in place for future growth, according to a survey released Wednesday by a real estate investing network.

The survey, called Top B.C. Investment Towns, names Surrey as the best place to invest, based on its rapid growth, high renter population and easy access to transportation corridors.

Maple Ridge/Pitt Meadows takes the No. 2 spot. It is expected to be "the place to live for lifestyle" once TransLink and Gateway infrastructure projects are completed.

Abbotsford is in third place for its rapid growth and diversifying regional economy.

The survey is by the Real Estate Investment Network, a trademark-protected organization headed by real estate consultant Don Campbell.

The survey forecasts that the recession will last until mid-2010 and "will provide an excellent buying opportunity for property buyers who focus their research on the economic fundamentals of key regions of the province."

In an interview, Campbell said he is taking a five- to nine-year perspective in his look at the best regions in the province to buy real estate. The survey examines all major B.C. towns based on 12 factors -- from economic development to demographics -- and measures them against provincial averages.

"We try to identify regions that are going to have long-term stability, even during what we are going through right now, and where the short-term problems are," Campbell said.

For the top three towns, "the big impact is going to be the Gateway Program," he said.

The survey lists fundamentals considered key in each town in the top-10 list. For the top three, Surrey, Maple Ridge and Abbotsford, it is growth, transportation links and diversity.

The remaining seven are:

4. Kamloops: A vacation destination and transportation hub, Kamloops is attracting new business and industry. A decline in housing starts coupled with a low vacancy rate "will drive up demand for all types of properties in town."

5. Dawson Creek and Fort St. John: Oil and gas exploration will have "dramatic effects" on the local economy. Dawson Creek's fundamentals are its proximity to Alberta and natural gas resources. In Fort St. John, oil and gas will drive growth as long as prices remain profitable. However, energy price cycles will put pressure on housing, calling for an understanding of smaller markets and energy demand cycles.

6. Kelowna: Serving a trading area of 450,000 people, Kelowna is attracting business and recreation investment. Despite a slower real estate market, rental revenues are high, providing opportunities for investors.

7. Comox Valley: An armed forces base provides economic stability and an airport providing service to Calgary and Edmonton is attracting buyers who choose the region for its lifestyle. The slow real estate market means cash flow will be difficult to achieve, so choosing the right property counts.

8. Penticton: Tourism and agriculture are expected to continue growing. Strong population growth will drive demand for both rentals and home purchases.

9. Vancouver: The Olympics will increase the city's business profile. The focus for investors should be on cash flow; speculators may wait a long time for prices to go up.

10. Prince George: Its diversity makes it better suited to weather the economic storm in the forest industry. Rail links through Prince Rupert to the Pacific ensure future growth.

Campbell said he is not advising investors try to buy at the bottom of the market; it's too difficult to predict.

Further, he said other factors, such as interest rates, need to be taken into account. As prices bottom out and start up, interest rates are also likely to go up, making monthly payments higher.

The validity of such surveys depends heavily on the different expectations people have about what is going to happen to the economy as a whole, said Tsur Somerville, director of the centre for urban economics and real estate at the University of B.C.'s Sauder School of Business.

He also said that small markets are not as liquid an investment as larger markets and can be more volatile.

"It's not necessarily going to be the best thing for everybody and that's a separate question from whether now is the best time to buy."

"When you are investing in these towns you are investing in their future and in their growth," he said.

According to its website, the Real Estate Investment Network is an exclusive membership program "dedicated to educating its members about how, where and when to buy Canadian real estate."

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Thursday, March 12, 2009

The Financial Crisis Finally Explained To The Lay Person

by Telf Maynard on Thu, Mar, 12, 2009 05:30 PM

Categories:comedy,news stories

Heidi is the proprietor of a bar in Norfolk. In order to increase sales, she decides to allow her loyal customers - most of whom are unemployed alcoholics - to drink now but pay later. She keeps track of the drinks consumed on a ledger (thereby granting the customers loans). Word gets around and as a result increasing numbers of customers flood into Heidi's bar. Taking advantage of her customers' freedom from immediate payment constraints, Heidi increases her prices for wine and beer, the most-consumed beverages. Her sales volume increases ... massively.

A young and dynamic customer service consultant at the local bank recognizes these customer debts as valuable future assets and increases Heidi's borrowing limit. He sees no reason for undue concern since he has the debts of the alcoholics as collateral.

At the bank's corporate headquarters, expert bankers transform these customer assets into DRINKBONDS, ALKBONDS and PUKEBONDS. These securities are then traded on markets worldwide. No one really understands what these abbreviations mean and how the securities are guaranteed.

Nevertheless, as their prices continuously climb, the securities become top-selling items.

One day, although the prices are still climbing, a risk manager of the bank, (subsequently of course fired due to his negativity), decides that slowly the time has come to demand payment of the debts incurred by the drinkers at Heidi's bar.

However, they cannot pay back the debts and Heidi cannot fulfill her loan obligations and claims bankruptcy. DRINKBOND and ALKBOND drop in price by 95%.

PUKEBOND performs better, stabilizing in price after dropping by 80%.

The suppliers of Heidi's bar, having granted her generous payment due dates and having invested in the securities are faced with a new situation. Her wine supplier claims bankruptcy, her beer supplier is taken over by a competitor.

The bank is saved by the Government following dramatic round-the-clock consultations by leaders from the governing political parties.

The funds required for this purpose are obtained by a tax levied on the non-drinkers.

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Monday, March 9, 2009

Vancouver West - Detached Houses - February 2009 Stats

by Telf on Mon, Mar, 9, 2009 07:33 PM

Categories:stats,Vancouver West

The following is a summary of stats released by the Real Estate Board of Greater Vancouver. Most of it is specific to detached houses on the Westside of Vancouver.

Housing Price Index

September: $1,315,517

October: $1,279,528

November: $1,116,267

December: $1,165,007

January: $1,134.773

February: $1,170,866

3-Month Average: $1,156,889

1-Year Change: -19.4%

3-Year Change: +11.1%

5-Year Change: +58.1%

Number of Sales

September: 46

October: 52

November: 25

December: 56

January: 46

February: 100

Number of New Listings

September: 314

October: 232

November: 128

December: 74

January: 195

February: 203

Total Active Listings (includes condos)

September: 4314

October: 4241

November: 4112

December: 3424

January: 3230

February: 3332

Total Sales (Includes condos)

September: 323

October: 285

November: 185

December: 211

January: 189

February: 399

Summary

Prices are up significantly since November (but still down 20% from the height of the market), sales volume has more than doubled since last month, and the number of listings on the market is staying fairly steady. Sales haven't been this busy since March of last year!

Interest rates went down AGAIN last week -- don't count on them getting much lower!!! The bank's overnight lending rate is now 0.5%. Mortgages are now available on a 5-year term at less than 4%. A 10-year term is now available at 5.25%!!! A year ago, at the height of the market, interest rates were closer to 7%. So what difference does a few percentage points make, you ask?

Last year, payments of $5000 a month would have bought you a $980,000 property. Today, payments of $5000 a month will get you a 1.4 million dollar property. And given that prices are down at least 20% since a year ago, your 1.4 million dollar house would have cost you almost 1.8 million a year ago. So today you can afford to buy a house that's almost TWICE as nice as you could have purchased a year ago. With this information, it's easy to see why, despite the recession we're still in, people are now buying like crazy.

Also, for investors, many condos (and even some houses!) now cash-flow! If you have, or can borrow, at least $50,000 you can now likely get 25-35% annual return on that money (AFTER tax!) by investing in a rental condo. Don't believe me? Give me a call and I'll send you the spreadsheets!

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Tuesday, March 3, 2009

Real Estate Board - Press Release

by Telf on Tue, Mar, 3, 2009 04:02 PM

Categories:press release,rebgv,stats

Property listings decrease, as February sales improve

VANCOUVER, B.C. – March 3, 2008

Residential housing sales in Greater Vancouver rose 94 per cent in February compared to the month before, with 1,480 sales registered in February compared to 762 sales in January, which was the slowest month for housing sales in 25 years. Over the past 10 years, February sales have typically surpassed January by an average increase of 53 per cent.

At the same time, new MLS® listings for residential properties continued to decrease for the fourth month in a row. New listings decreased 25.6 per cent in February compared to the previous year; 20 percent in January; 8.6 per cent in December; and 10 per cent in November.

“There are terrific opportunities out there right now, but with property listings continuing to decrease, those opportunities may be available only for a brief window of time,” said Dave Watt, president of the Real Estate Board of Greater Vancouver (REBGV).

REBGV reports that year-over-year property sales in Greater Vancouver declined 44.7 per cent in February 2009 from the 2,676 sales recorded in February 2008. Year-over-year, those are the lowest sales figures for February since the mid-1980s.

“REALTORS® are reporting more activity compared to recent months as people begin to see whether their position in the housing market has strengthened as a result of falling interest rates and improved affordability,” Watt says. “It took, on average, 67 days to sell a home in Greater Vancouver in February, seven days less than last month, but behind the seller’s market of last February when the average stood at 33 days.

Sales of detached properties in February 2009 declined 41 per cent to 587 from the 995 units sold during the same period in 2008. The benchmark price, as calculated by the MLSLink Housing Price Index®, for detached properties declined 14.2 per cent from February 2008 to $653,452.

Sales of apartment properties declined 45.6 per cent last month to 650, compared to the 1,197 sales in February 2008. The benchmark price of an apartment property declined 13.9 per cent from February 2008 to $333,143.

Attached property sales in February 2009 decreased 49.8 per cent to 243, compared with the 484 sales during the same month in 2008. The benchmark price of an attached unit declined 9.7 per cent between Februarys 2008 and 2009 to $426,268.

New listings for detached, attached and apartment properties declined 25.6 per cent to 3,916 in February 2009 compared to February 2008, when 5,260 new units were listed.

The Real Estate Board of Greater Vancouver is an association representing more than 9,500 REALTORS®. The Real Estate Board provides a variety of membership services, including the Multiple Listing Service®. For more information on real estate, statistics and buying or selling a home contact a local REALTOR® or visit www.rebgv.org.

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Telf Maynard | 604.264.8353