Although sales in April were down about 5% from last year, listings were up approximately 20% from the same time last year, increasing choices for consumers. This has increased the excitement in the market.
Prices remain high, and the best way to ensure that you keep more money in your pockets is to hire a REALTOR® that you trust to protect your best interests. A trained REALTOR® is knowledgeable about market value and can negotiate you the most favourable price and terms for your sale or purchase. If you don't have a trusted real estate professional in your speed dial, Trust Cyndi to give you the VIP Treatment that you deserve and to ensure your happy and successful real estate transaction! Call me today!
Thursday, May 3, 2007
Tuesday, April 24, 2007
Spring into Action!
If you are thinking about selling your home this year, there is no time like the present. This is the time many home-owners start considering the sale of their home, and there is good reason for that. The average sale has completion dates about two months out from the contract date, and, in our market right now, it can take over a month to get a contract in place. Homeowners with children in school need to list now in order to sell their home in time to search for, and move into their new home, before the new school year starts in September. Even if you, personally, don't need to worry about kids changing schools, consider your potential buyers!
Consider this timeline: Late April listing = mid-to-late May offer placed and accepted = late August completion. Yikes! Better get moving...
Let me Spring into action for you to get your home sold quickly and for top dollar. I just sold two Mission homes for top dollar in only eleven days (far under the Mission days on market average for March of 77 days). I would like to do the same for you. Call me.
You won't regret it!
Consider this timeline: Late April listing = mid-to-late May offer placed and accepted = late August completion. Yikes! Better get moving...
Let me Spring into action for you to get your home sold quickly and for top dollar. I just sold two Mission homes for top dollar in only eleven days (far under the Mission days on market average for March of 77 days). I would like to do the same for you. Call me.
You won't regret it!
Saturday, April 7, 2007
Happy Easter!
Wishing you and your families a very Happy Easter.
I have been hopping along making sure that my clients are well taken care of, so I haven't had time to post much lately. If anyone has a suggestion for a post topic, please let me know.
Respectfully,
Cyndi Polovina
I have been hopping along making sure that my clients are well taken care of, so I haven't had time to post much lately. If anyone has a suggestion for a post topic, please let me know.
Respectfully,
Cyndi Polovina
Monday, March 26, 2007
Market Still Going Strong
Prices are continuing to climb and there does not seem to be any shortage of people wanting to buy homes in the beautiful Fraser Valley. The market is still very active, albeit slightly slower than the last two years, which had incredible numbers of homes flying off the market.
All in all, we will see a more balanced market this year. Houses will take a bit longer to sell than they would have last year, and there will be much fewer bidding wars. This will allow Buyers to take their time to look at a fair number of homes before making their decision. What a relief!
Last year if Buyers thought a home was close to meeting their needs, they had to rush to put in an offer before it got snatched up by someone else. Bidding wars were not uncommon, when homes were priced well, and it was a very strong Sellers market indeed, with a shortage of inventory compared to the number of people looking to buy.
Working with a REALTOR® is still your best bet of getting the best price for a home you have to sell, or getting the best price and terms on the home you want to buy. REALTORS® are knowledgeable about market value, so they can price your home correctly and ensure that they use their marketing expertise to gain the maximum exposure of your property. They also will put their negotiation and contract skills to work for you, to ensure that your best interests are served.
If I can be of any help to you, please do not hesitate to give me a call.
604-820-7733.
Cyndi Polovina
All in all, we will see a more balanced market this year. Houses will take a bit longer to sell than they would have last year, and there will be much fewer bidding wars. This will allow Buyers to take their time to look at a fair number of homes before making their decision. What a relief!
Last year if Buyers thought a home was close to meeting their needs, they had to rush to put in an offer before it got snatched up by someone else. Bidding wars were not uncommon, when homes were priced well, and it was a very strong Sellers market indeed, with a shortage of inventory compared to the number of people looking to buy.
Working with a REALTOR® is still your best bet of getting the best price for a home you have to sell, or getting the best price and terms on the home you want to buy. REALTORS® are knowledgeable about market value, so they can price your home correctly and ensure that they use their marketing expertise to gain the maximum exposure of your property. They also will put their negotiation and contract skills to work for you, to ensure that your best interests are served.
If I can be of any help to you, please do not hesitate to give me a call.
604-820-7733.
Cyndi Polovina
Thursday, March 1, 2007
Great News for First-Time Buyers!
New Threshold for Property Transfer Tax Increases Housing Affordability
The Property Transfer Tax (PTT), a B.C. government tax collected on the purchase of a home sale, can add thousands of dollars to what buyers need to pull out of their pockets to complete on their purchase.
The government recognized the burden this put on first-time buyers, who already needed to save a significant amount of money for a down-payment and closing fees. Therefore there was an exemption available to first-time buyers, who would be exempt from the PTT if they bought a home with a value equal to, or less than, the threshold.
Immediately prior to February 21, 2007, the exemption thresholds for first-time buyers was $325,000 in the Capital, Greater Vancouver and Fraser Valley Regional Districts and $265,000 for the rest of the province.
Last September, the B.C. Real Estate Association recommended the government develop a phased three-year plan leading to elimination of the Property Transfer Tax (PTT) by 2009, beginning with an update of the tax exemption thresholds for first-time buyers to $375,000, province wide.
The government has adopted the latter part of that recommendation word for word, and the new $375,000 PTT exemption threshold for first-time buyers came into effect on February 21, 2007. The amount applies to all areas of the province, replacing the former threshold.
This is an important change since home prices have been steadily rising, and $325,000.00 doesn't buy what it used to. With the threshold now at $375,000.00, first-time buyers have a much greater selection of properties to choose from that still allow them this important tax-saving exemption. Great news for first-time buyers!
The Property Transfer Tax (PTT), a B.C. government tax collected on the purchase of a home sale, can add thousands of dollars to what buyers need to pull out of their pockets to complete on their purchase.
The government recognized the burden this put on first-time buyers, who already needed to save a significant amount of money for a down-payment and closing fees. Therefore there was an exemption available to first-time buyers, who would be exempt from the PTT if they bought a home with a value equal to, or less than, the threshold.
Immediately prior to February 21, 2007, the exemption thresholds for first-time buyers was $325,000 in the Capital, Greater Vancouver and Fraser Valley Regional Districts and $265,000 for the rest of the province.
Last September, the B.C. Real Estate Association recommended the government develop a phased three-year plan leading to elimination of the Property Transfer Tax (PTT) by 2009, beginning with an update of the tax exemption thresholds for first-time buyers to $375,000, province wide.
The government has adopted the latter part of that recommendation word for word, and the new $375,000 PTT exemption threshold for first-time buyers came into effect on February 21, 2007. The amount applies to all areas of the province, replacing the former threshold.
This is an important change since home prices have been steadily rising, and $325,000.00 doesn't buy what it used to. With the threshold now at $375,000.00, first-time buyers have a much greater selection of properties to choose from that still allow them this important tax-saving exemption. Great news for first-time buyers!
Thursday, February 8, 2007
Home Ownership has Some Advantages
Recently a member of our Fraser Valley Real Estate Board shared an excerpt from the December 25, 2006, issue of Maclean’s magazine, and I would like to share some of the details with you:
Apparently a recent study by Statistics Canada was full of good tidings about the wealth of Canadians. The article says that the total value of Canadians’ assets is up 42 per cent since 1999, to a staggering $5.6 trillion. And the net worth of the median Canadian family now stands at $148,400.
Although most of the published reports on the study focused on the increase in household debt, which also rose substantially to $760 billion, a closer look at the study reveals not a dangerous predilection for careless spending, but rather an astute investment in both personal wealth and social stability.
It turns out that about three-quarters of total household debt is mortgages. Credit card debt is a mere 3.4 per cent. This great emphasis on mortgage debt has pushed the rate of home ownership in Canada from 59.6 per cent to 61.9 per cent over the past six years.
The article goes on to explain that not only are the financial benefits of owning your own home substantial to families and individuals, (since the home represents the bulk of Canadian families’ personal assets as well as a kind of retirement savings program), but the country as a whole also gains from broad-based home ownership. Homeowners tend to be regular voters, are more engaged in their local institutions, and contribute to their neighbourhoods in ways that renters do not.
Rising home ownership rates reflect a general sense of optimism in Canada. Even higher levels of debt would thus be welcome, if it meant more Canadian families were getting their own bit of land.
I have helped first-time buyers and repeat buyers to get the best possible value in their real estate transactions and I would like to help you do the same. If you are in need of a REALTOR® you can trust to take care of your best interests in your home purchase or sale, please contact me at your convenience. I look forward to helping you!
Apparently a recent study by Statistics Canada was full of good tidings about the wealth of Canadians. The article says that the total value of Canadians’ assets is up 42 per cent since 1999, to a staggering $5.6 trillion. And the net worth of the median Canadian family now stands at $148,400.
Although most of the published reports on the study focused on the increase in household debt, which also rose substantially to $760 billion, a closer look at the study reveals not a dangerous predilection for careless spending, but rather an astute investment in both personal wealth and social stability.
It turns out that about three-quarters of total household debt is mortgages. Credit card debt is a mere 3.4 per cent. This great emphasis on mortgage debt has pushed the rate of home ownership in Canada from 59.6 per cent to 61.9 per cent over the past six years.
The article goes on to explain that not only are the financial benefits of owning your own home substantial to families and individuals, (since the home represents the bulk of Canadian families’ personal assets as well as a kind of retirement savings program), but the country as a whole also gains from broad-based home ownership. Homeowners tend to be regular voters, are more engaged in their local institutions, and contribute to their neighbourhoods in ways that renters do not.
Rising home ownership rates reflect a general sense of optimism in Canada. Even higher levels of debt would thus be welcome, if it meant more Canadian families were getting their own bit of land.
I have helped first-time buyers and repeat buyers to get the best possible value in their real estate transactions and I would like to help you do the same. If you are in need of a REALTOR® you can trust to take care of your best interests in your home purchase or sale, please contact me at your convenience. I look forward to helping you!
Saturday, February 3, 2007
PROVINCE WILL INCREASE HOMEOWNER GRANT THRESHOLD
British Columbia will raise the home owner grant threshold in response to significant increases in property values, Finance Minister Carole Taylor announced today.
“British Columbia enjoyed another year with a booming construction sector, strong real estate market and increased investment in our economy,” said Taylor. “We also recognize property values continue to rise across the province and that’s why, for the fourth consecutive year, we will increase the threshold to assist B.C. homeowners with their property taxes.
”The new threshold at which homeowners may be eligible to receive the full grant will be $950,000 in assessed property value, up from $780,000.
“Higher property value assessments are certainly a mark of our economic strength in British Columbia and demonstrate that this is a truly desirable place to live,” Taylor said. “On the other hand, higher values don’t always translate into more money in people’s pockets. Through this increase to the homeowner grant threshold, we can continue to make a real difference for B.C. homeowners today.
”Consistent with adjustments made over the previous three years, the new threshold ensures more than 95 per cent of B.C. homeowners receive the full grant.
The Home Owner Grant Program reduces the burden of residential property taxes for eligible homeowners. The basic grant entitles a homeowner to a maximum reduction in residential property taxes of $570. An additional grant of $275 is available if the owner is over 65, or permanently disabled, or eligible to receive certain war-veteran allowances.
Over the past year, assessed residential property values in British Columbia, including new construction, increased by 24 per cent. The new threshold will allow up to 41,000 homeowners, who would otherwise face a reduced benefit, to receive the full grant.
In Budget 2006, government also increased the basic grant from $470 to $570.
More information on the Home Owner Grant Program is available online at www.sbr.gov.bc.ca/hog.
“British Columbia enjoyed another year with a booming construction sector, strong real estate market and increased investment in our economy,” said Taylor. “We also recognize property values continue to rise across the province and that’s why, for the fourth consecutive year, we will increase the threshold to assist B.C. homeowners with their property taxes.
”The new threshold at which homeowners may be eligible to receive the full grant will be $950,000 in assessed property value, up from $780,000.
“Higher property value assessments are certainly a mark of our economic strength in British Columbia and demonstrate that this is a truly desirable place to live,” Taylor said. “On the other hand, higher values don’t always translate into more money in people’s pockets. Through this increase to the homeowner grant threshold, we can continue to make a real difference for B.C. homeowners today.
”Consistent with adjustments made over the previous three years, the new threshold ensures more than 95 per cent of B.C. homeowners receive the full grant.
The Home Owner Grant Program reduces the burden of residential property taxes for eligible homeowners. The basic grant entitles a homeowner to a maximum reduction in residential property taxes of $570. An additional grant of $275 is available if the owner is over 65, or permanently disabled, or eligible to receive certain war-veteran allowances.
Over the past year, assessed residential property values in British Columbia, including new construction, increased by 24 per cent. The new threshold will allow up to 41,000 homeowners, who would otherwise face a reduced benefit, to receive the full grant.
In Budget 2006, government also increased the basic grant from $470 to $570.
More information on the Home Owner Grant Program is available online at www.sbr.gov.bc.ca/hog.
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