Author: Kirsten Mason

B.C. Home Sales Edge Higher in September

B.C. Real Estate News

Vancouver, BC – September 14, 2011. The British Columbia Real Estate Association (BCREA) reports that Multiple Listing Service® (MLS®) residential unit sales in the province rose 8.8 per cent to 5995 units in September compared to the same month last year. The average MLS® residential price increased 6 per cent to $523,568 last month compared to September 2010.

MLS Residential Sales BC September 2011

Click to Enlarge

“MLS® home sales edged up 3 per cent in September compared to August on a seasonally adjusted basis,” said Cameron Muir, BCREA Chief Economist. “Housing demand last month was bolstered by persistent low mortgage interest rates and a surge in employment.”

“Despite a modest gain in unit sales, total active residential listings in the province remained elevated in September,” added Muir. A total of 55,616 homes were listed on the MLS® in the province at the end of September.

Year-to-date, BC residential sales dollar volume increased 17.5 per cent to $34.8 billion, compared to the same period last year. Residential unit sales increased 3.2 per cent to 61,127 units, while the average MLS® residential price rose 13.9 per cent to $569,922 over the same period.

Link

Kamloops and District Real Estate Associations Statistics For September 2011

Kamloops Real Estate Statistics

The Kamloops and District Real Estate Association has released the statistics for September 2011 and the third quarter. Click image to enlarge.

Comparative analysis by property type September 2011

Kamloops Real Estate Comparative Analysis by Property Type September 2011

Sales by subarea September 2011 Kamloops Real Estate Statistics

Kamloops Real Estate Sales By Subarea September 2011

MLS Activity September 2011 Kamloops Real Estate Statistics

Kamloops Real Estate MLS Activity September 2011

Sales by subarea Third Quarter Kamloops Real Estate Statistics

Kamloops Real Estate Sales By Subarea Third Quarter 2011

Canadian Home Prices Rose in Quarter, Slowdown Seen

National Real Estate News

This article appeared on Reuters.com on October 5th, 2011 and was written by Andrea Hopkins.

* Low rates fuel Q3 price gains * Slowdown forecast in some regions * U.S.-style correction seen as unlikely

TORONTO, Oct 5 (Reuters) – Canadian house prices rose in the third quarter as very low interest rates supported consumer confidence even as signs of softening in some regions point to a broader slowdown in the months ahead.

The country’s leading real estate broker said on Wednesday the average price of a home in Canada increased between 5.7 percent and 7.8 percent from July through September compared with the same period the previous year, a deceptively big gain because the third quarter of 2010 had been weak.

“The strength in Canada’s national housing market conceals signs of predictable softening in some regions,” said Phil Soper, president and chief executive of Royal LePage Real Estate Services.

“The third quarter saw a return to a normal seasonal business cycle as price appreciation slowed in many areas — with some average values even receding — after the busy spring trading season.”

Soper said a broader slowdown is expected as the economy struggles to gain traction as global growth falters. Even so, he said, “fears of a U.S.-style correction are completely unfounded.”

The average price of a detached bungalow rose 7.8 percent in the third quarter to C$349,974 from a year earlier. Over the same period, the price of a standard two-storey home rose 7.7 per cent to C$388,218, while the price of a standard condominium rose 5.7 per cent to C$239,300.

“Canadian home owners have turned a deaf ear to the negative economic situation shaking housing markets in Europe and the United States,” Soper said.

“A resilient domestic economy coupled with the stimulative effect of ultra low interest rates has extended the post-recession bounce in house prices, but there is evidence of over-shooting in some markets.”

Royal LePage said prices climbed in Toronto across all three housing types in part because of a supply shortage, while Vancouver prices also rose again. Montreal, Ottawa and Winnipeg showed strong price gains as well, while both Calgary and Edmonton remained little changed for condominiums and notched small gains in house prices.

Link

Kamloops Mortgage Information: Quick Tips for Boosting Credit

Mortgage Information

Deb Fehr Dominion Lending Mortgage BrokerThis article came from The Real Estate Centre and was written on October 4th, 2011.

Planning ahead to ensure your credit is healthy before applying for a mortgage can translate into a better mortgage rate and product – which can save you significant money throughout the term of your mortgage.

Following are five steps you can use to help attain a speedy credit score boost:

1) Pay down credit cards. The number one way to increase your credit score is to pay down your credit cards. Revolving credit like credit cards seems to have a more significant impact on credit scores than car loans, lines of credit, and so on.

2) Limit the use of credit cards. Racking up a large amount and then paying it off in monthly instalments can hurt your credit score. If there is a balance at the end of the month, this affects your score – credit formulas don’t take into account the fact that you may have paid the balance off the next month.

3) Check credit limits. If your lender is slower at reporting monthly transactions, this can have a significant impact on how other lenders may view your file. Ensure everything’s up to date as old bills that have been paid can come back to haunt you. Your best bet is to pay your balances down or off before your statement periods close.

4) Keep old cards. Older credit is better credit. If you stop using older credit cards, the issuers may stop updating your accounts. As such, the cards can lose their weight in the credit formula and, therefore, may not be as valuable – even though you have had the cards for a long time. You should use these cards periodically and then pay them off.

5) Don’t let mistakes build up. You should always dispute any mistakes or situations that may harm your score. If, for instance, a cell phone bill is incorrect and the company will not amend it, you can dispute this by making the credit bureau aware of the situation.

If you have repeatedly missed payments on your credit cards, you may not be in a situation where refinancing or quickly boosting your credit score will be possible. Depending on the severity of your situation – and the reasons behind the delinquencies, including job loss, divorce, illness, and so on – I can help you address the concerns through a variety of means and even refer you to other professionals to help get your credit situation in check.

As always, if you have any questions about you credit situation or your mortgage in general, I’m here to help!

Deborah Fehr, Mortgage Consultant, Dominion Lending
P. 250-571-2472 E. ac.gnidnelnoinimod@rhefd W. www.dfehr.ca

Link

1 … 678 679 680 681 682 … 778