Real Estate Vancouver

Monthly Statistical Report SeptemberThe Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties on the region’s Multiple Listing Service® (MLS®) reached 2,246 in September, a 1.2 per cent increase compared to the 2,220 sales in September 2010.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,680 in September, the third highest volume for September in 17 years. This represents a 20.1 per cent increase compared to September 2010 when 4,731 properties were listed for sale on the MLS® and a 21.2 per cent increase compared to the 4,685 new listings reported in August 2011.The number of properties listed for sale on the Greater Vancouver MLS® system has increased each month since the beginning of the year. At 16,085, the total number of residential property listings on the MLS® increased 4.6 per cent in September compared to August 2011 and rose 4.4 per cent compared to this time last year.

The MLSLink® Housing Price Index (HPI) benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 8.8 per cent to $627,994 in September 2011 from $577,174 in September 2010.Since reaching a peak in June of $630,921, the benchmark price for all residential properties in the region has declined 0.5 per cent.Sales of detached properties on the MLS® in September 2011 reached 957, an increase of 10.5 per cent from the 866 detached sales recorded in September 2010, and a 32.8 per cent decrease from the 1,423 units sold in September 2009. The benchmark price for detached properties increased 13.4 per cent from September 2010 to $896,701.

Welcome to the monthly newsletter for Karen Carter!I’m excited to provide a monthly insight into the ever-

changing real estate market of Greater Vancouver. Enjoy!

Issue # 1 October 04, 2011

September 2011 Statistical Report

Issue # 1 October, ##, 2011Issue # 1 October, 04, 2011

Is history repeating itself?As September 2011 comes to a close 24,634 Active Listings can be found across the lower

mainland’s three real estate boards. This number is up from the 24,457 Active Listings that were reported around this time last year

in October 2010.What does this mean for the market?Realtors are now speculating that current statistics match the direction last year’s market took and homes owners will be

requesting prices above and beyond what keen buyers are prepared to offer.

Issue # 1 October, 04, 2011

Will HST removal slow sales of New Homes?was the upper limit

for a rebate program intended to add no additional tax on homes.

According to Bryan Yu at Central 1 Credit Union “"People looking at new homes priced over $525,000 may very well wait until the tax changes lower the 12 per cent hit they face."The HST added provincial tax to new housing on top of GST and $525,000

10 ways to ‘green’ your home1. Get an energy audit. LiveSmart BC will cover $150 of the cost.2. Insulate your hot water heater. Buy a pre-cut jacket or blanket for

$10-$20 and you will save 10% o heating costs.3. Fix leaks/leaking taps. One drop per second equals 7,000 litres of

water wasted per year.4. Change your light bulbs. Lighting accounts for 15% of your energy

bill. Replace old bulbs with ENERGY STAR rated bulbs. Check for rebates.

5. Clean your furnace filter to optimize performance.6. Install a water filter and stop buying expensive bottled water that

ends up in a landfill.7. Get the most from your fireplace. Here is how to make it efficient.8. Use ‘smart strips’ also known as power bars that allow you to power

off all equipment at the same time.9. Utilize drip irrigation, which uses less water than sprinklers.10. Buy energy smart electronics and don’t forget to check out the available rebates.

Issue # 1 October, 04, 2011

For more information on

how to give your children options

call:

Richard KnowlerHelping to Give

Children a Future604-683-1794

rik.knowler@kff.ca

Provide options for your children’s future

After almost 20 years helping families save for their children and grandchildren’s future education, I am now

helping those students that gain access to the

savings that their parents have provided

for them.However, as in life,

things do not always go smoothly. I recently

received a phone call from a mother with

three young boys, who told me that she was

going to have to cancel her savings plan

because she could not afford it anymore as

her husband has passed away 6 months

previously.Now our plans have safeguards built into them, so that if the

unexpected happens, we are able to help the families. I informed her that all our plans have completion insurance included so that if a tragic event like this

occurs, (death or long term disability), we will

carry on making the deposits for the family.

I called our Customer Service to stop the

automatic withdrawal, took the claim form to

her, helped her complete it and

forwarded it to the insurance company.Jennifer (not her real

name) was so grateful, as her sons’

future is very important to her, and in light of the tragedy that occurred this was

one less thing to worry about.

All three of her boys’ post secondary

education funding is now secured, and they

along with Jennifer and can start to dream again and

move forward to a brighter future.

KNOWLEDGE

GUARANTEES

POSSIBILITIES

Richard Knowler

Helping to Give Children

a Future604-683-1794rik.knowler@kff.

ca

Issue # 1 October, 04, 2011

Flood damage info for Lower Mainland BC

Flood insuranceIn Canada, flood insurance isn’t available to home owners. Other water damage is covered, such as sewer backup and burst pipes, but for overland flooding, home owners are out of luck.

Why isn’t overland flooding as a result of a natural disaster covered by home insurance?“Insurance is designed to spread risk among many policy holders. Generally, flooding is a risk for only a small percentage of the population – those who live on flood plains or in floodprone areas. As a result, the price of flood coverage would be very high for the small number of people who would need it.”

Source: Insurance Bureau of Canada

What can home buyers and home owners do to protect themselves?While a flood can happen anywhere it rains, home buyers should assess flood risks in the area where they plan to buy. Home buyers can:

1. Review floodplain maps for specific areas, at http://www.env.gov.bc.ca/wsd/data_searches/fpm/reports/index.html. Select Region 2 - Lower Mainland.

2. Talk to the local municipality about the risk and the history of flooding in the area.  

Issue # 1 October, 04, 2011

Home owners can reduce their chances of flood damage by:1. Reading material about flood reduction supplied by the local municipality.

2. Walking around the home after heavy rainfall to see where water is pooling. If water flows toward the home, the owner should get professional advice about directing water away from the home.

3. Cleaning gutters and downspouts.

4. Making sure the home’s drain tiles work. The basement will flood if tiles are old or plugged and need replacing.

5. Flood proofing the basement or ground floor, which involves sealing the foundation.

6. Installing backflow valves on basement floor drains, washing machine drains, toilets and sink drains.

7. Locating the storm sewer on the road. It will look like a large grate and is designed to carry storm related water runoff. If it’s plugged with leaves, the owner should phone the local municipal public works department and they will clean it.

8. Buying a sump pump and testing it so it’s ready to be used if needed during heavy rain storms.

9. Contacting the municipality to find out where sand and bags are available should a flood occur.

If there is a floodDocument damage to the property. Take photos or videos, and keep detailed records.

Government help for flood victimsHome owners, tenants, small business owners and farm owners who are victims of a flood, may be eligible for assistance through the Provincial Emergency Program’s Disaster Financial Assistance Program.

For information on applying for financial help after a disaster, disaster financial assistance guidelines, and compensation, visit www.pep.bc.ca/dfa_claims/dfa.html. There is also information about how to clean up after a flood, available in English, Punjabi and Chinese.

For more information• The BC Ministry of Environment has updated their floodplain maps by community at www.env.gov.bc.ca/wsd/public_safety/flood/maps.html (Scroll down for the maps).

• BC Ministry of Environment, Water Stewardship Division at www.env.gov.bc.ca/wsd

• BC Emergency Preparedness at www.pep.bc.ca