Mission Residents and REALTORS® Help Local Charities

The 13th Annual REALTORS® Care Blanket Drive runs from November 26 to December 3, 2007. Last year REALTORS® from Fraser Valley and Greater Vancouver collected over 3,300 bags of warm clothing and bedding and delivered them to over 30 local charities. Members take great pride in the fact that Blanket Drive contributions stay in the communities in which they are donated. Last year in Mission we collected 132 bags of clothing, blankets, etc. to go to the local charities, helping those in OUR community who needed it most. The importance of the Drive cannot be stressed enough. These are tough times for some individuals and families.

What is most needed are warm and waterproof clothes - mostly for men, but also for women and children. So please donate any socks, shoes and boots, pants, jeans, sweaters, jackets, hats, toques, scarves, and gloves that you are able to do without ... because someone else can't do without them. Also much needed are blankets and tarps. Your donations will be very much appreciated and will be accepted at any Mission Real Estate office between Nov. 26 and December 3rd, 2007. If you have donations and are unable to make it to a local real estate office, please call me and I will be happy to come and pick them up from you.

Photo: REALTORS® (L to R) Dean Tweedle, Jodi Kehler, Debbie Leighland, and Cyndi Polovina are some of the local volunteers of the 50 REALTORS® from Chilliwack to Squamish helping make the 13th Annual REALTORS® Care Blanket Drive happen.

Timing Your Listing

It was suggested by one local REALTOR® in a flyer delivered by Canada Post today that the

inventory in the fall and winter tends to be low, and therefore, the last quarter of the year is a great time to sell.

The statistics released from the Fraser Valley Real Estate Board for September, suggest otherwise. Inventory is quite high right now, and we are experiencing a Buyer's Market, (also according to the statistics package for September.)

That is not to say that this is not a good time to sell. Winter prices can be a few percentage points lower than the peak price in spring/summer of the same year, before climbing back up in February/March of the following year. If, as has happened historically at this time of year, we are in a temporary period of moderately declining prices, then a seller could sell as the downward swing begins, only to actually buy a month or two later as the prices have continued to follow the downward decline. (Sell at -1% and buy at -3%, for example). If selling a home whose peak value this year was $400,000.00 and prices have by that time dropped 1%, they could see it as a loss of $4,000.00. However, if they are then buying a home for $300,000.00 and prices have by that time dropped 3%, they will have saved $9000.00 on that purchase, for a net gain of $5,000.00. If they were trading up to a home of value of $580,000.00 and prices had dropped from the peak value by 3%, they would save $17,400.00 on their purchase and be $13,400.00 ahead. So, whether upsizing or downsizing your mortgage, you would be financially wise to sell at this time, and make your purchase before the price upswing.

There is also a huge benefit to buying in the winter, whether it is your first home purchase, or not. You will see the home as it shows in the winter months, and be able to tell much more about how well the home systems are performing (windows, roof, humidity control, etc.)

Your particular situation of circumstances must be considered before a decision regarding timing your listing can be made. There are also benefits to listing in the spring, for some sellers, depending on their personal set of circumstances. I would be more than happy to review the statistics with you and help you assess your best time to list, based on your situation. Please never hesistate to give me a call for a Free Market Evaluation, and/or advice regarding the best time to sell.

Wishing you and your families a happy, healthy fall and winter,

Cyndi Polovina

July Sales Climb in the Fraser Valley

Sales on the Fraser Valley Real Estate Board's Multiple Listing Service® (MLS ®) in July 2007 were the second highest on record for that month.

A total of 1,984 sales were processed through the MLS ® in July, an increase of 21% compared to 1,635 sales the same month in 2006, and only a 3% decrease compared to the strongest July on record, 2,051 sales in 2005.

Jim McCaughan, President of the Fraser Valley Real Estate Board, attributes July's near record sales to a number of factors. "BC's economy continues to hum along, Fraser Valley REALTORS® are receiving a strong influx of new listings and some of our clients are feeling a little uncertainty about where interest rates are going. It all adds up to a desire to invest in real estate now."

"Average annual price increases remain solid, however we are seeing price increases start to moderate on a month to month basis," says McCaughan.

In Mission, B.C, the average price of a single detached home went from $332,071 in July 2006 to $387,293 in July 2007, a change of $16.6%. For townhouses the change was 14.1%, with the average price going from $252,600 to $288,333. The largest gains were made on Mission apartments. The average price of the apartments sold in July 2006 was $185,750, compared to an average of $232,466 in July 2007, a whopping change of 25.1%!

If you are in need of a Free Market Evaluation to find out the value of your Mission, B.C. or Abbotsford, B.C. home, please give Cyndi a call at 604-820-7733.

Prices and Selection Still Strong

July 4, 2007 Mission and Abbotsford Statistics Update

Statistics released by the Fraser Valley Real Estate Board today show that June 2007 was one of the best Junes on record. There was only a 3% decrease in sales from June 2006, which was the second highest June on record. There was however a 39% increase in the number of active listings compared to June of last year, leaving more selection for buyers, and allowing them more time to make a decision on which home to buy.

The average price of a single-detached home in Mission climbed from $341,928 in June 2006 to $387,393 in June 2007, an increase of 13.3%. In Abbotsford the same average for those months went from $388,280 to $428,091, an increase of 10.3%.

The question on everyone's minds seems to be "can prices continue this upwards trend?" No one can tell for certain. However, based on the strength of the B.C. economy, the current consumer confidence level, and, of course, the landlock that we have in our region, there is no reason to expect any significant downturn in prices without an economically significant event occuring.

There is only so far east that people are willing to move and still commute to Vancouver. The mountains on the North shore and the border to the South, the water to the West, and of course, the Agricultural Land Reserves throughout the Lower Mainland and Fraser Valley, all leave a shortage of land to develop. Add to that the fact that B.C., and in particular, the southwest portion thereof, is a very desirable place to move for both immigrants and people from other parts of Canada, and we have significant housing demand. Supply and demand dictate that since supply is limited and demand is strong, there is no reason for a significant price decrease in the near future. So First-time Buyers take note: housing is not likely to become more affordable than it is now, so you may want to consider a "stepping stone" approach to home ownership and get into the real estate market now. Buy an apartment, townhome or condo, and plan to upgrade down the road when you can. Don't miss your chance of home ownership, it definitely has many rewards! Call me today.

Real Estate Market Offering Best of Both Worlds!

Buyers in the Fraser Valley have a much better home selection than this time last year and sellers continue to see strong return on their investment.

We are still in a sellers' market, but we are on the balanced end of that category. A more balanced market is good news for buyers because it gives them a wider selection and more time to think about a home before they make a decision. However, the news is still good for sellers since home prices have remained strong and stable in all catetories due to continued high demand.

The best way to get the highest return on your investment is to engage the services of a licensed, professional REALTOR® to help you market and negotiate the sale of your home.

Spring Market Heating Up!

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!

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!