Dear Subscriber,
Welcome to our September newsletter. We hope that you enjoy our timely articles depending on the season and the real estate market conditions. This month the buzz is all about the Harmonized Sales Tax (HST) that the BC Liberal government will legislate into effect July 1,2010. Read how this affects all of the services related to a real estate transaction, including sales commissions, appraisal fees, home inspection fees and legal fees. If you are thinking about purchasing property in BC you should consider doing so before July next year. Whether you are selling your property or you are intending to buy recreational or retirement property here, we know that you are always interested in the latest real estate market statistics for "the Valley". We will also show you the trends for the average selling prices and the "days on market" since January 2007. We have some great concepts for future issues, but if you have any ideas that you feel would be a valuable contribution to our newsletter please forward them to us by email. If this newsletter was forwarded to you, you can receive your personal copy each month. Stay tuned and we will bring you all of the latest real estate news from the Columbia Valley. Sincerely,
Your Professional REALTORS®
Royal LePage Rockies West Realty
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Sales Statistics for 2009
Based on MLS® Sales Data
(information is deemed correct but not guaranteed)
Each month we will extract the sales data from the Multiple Listing Service® and compile it. We will provide you with charts showing the raw numbers, the percentage (%) change from previous years, and a graph showing the long term trend. These values will show the number of properties sold, the number of "days on market" and the average selling price.
Since we cannot properly display these in this newsletter (and to minimize the size of this email) you can click on the following links;
You may also request a more detailed breakdown of the numbers by a specific area and/or type of property** by email.
** property types are; attached (condos, townhomes, duplexes), detached (standalone houses), and vacant land.
** areas are; Invermere, Radium Hot Springs, Canal Flats, Invermere Rural (includes all rural, Panorama, Wilmer, Lakeview, Timber Ridge, Windermere, Fairmont Hot Springs, Columere Park)
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What The HST Means For BC Home Buyers
Vancouver, BC - August 24, 2009. The British Columbia Real
Estate Association (BCREA) today launched a new section of its website to
provide the public and REALTORS® with information about the impact of the
proposed Harmonized Sales Tax (HST) and an opportunity to voice their concerns
about the tax. This new resource, which can be found at www.bcrea.bc.ca/hst/hstaction.htm,
encourages concerned citizens and REALTORS® to proactively communicate their
dissatisfaction with the HST by sending letters to their local MLAs, Premier
Gordon Campbell, Minister of Finance Colin Hansen and Carole James, Leader of
the Official Opposition. Read more about how this affects you!
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August Home Sales Continue at Brisk Pace in BC
Vancouver, BC - September 11, 2009. TheBritish Columbia Real Estate Association (BCREA) reports that Multiple
Listing Service® (MLS®) residential sales in the province climbed 66 per cent to
8,565 units in August compared to the same month last year. The average MLS®
residential sales price in the province climbed 12 per cent to $471,078 from
$421,685 in August 2008.
"Homes sales continued at a rapid pace in August," said Cameron Muir, BCREA
Chief Economist. "Attractive home prices and low mortgage rates were key drivers
in the market."
The number of active residential listings declined 20 per cent over the past
year, with August posting 26 per cent fewer active listings than the peak in
December 2008 (seasonally adjusted). "Home prices edged higher in many markets
over the summer months as declining inventories created competition among
homebuyers for the best properties." Read more about this month's market conditions ...
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BC Home Sales Brightest Light in Economy
Vancouver, BC - August 27, 2009. The
British Columbia Real Estate Association (BCREA) released its Forecast Update
for the third quarter of 2009 today.
BC Multiple Listing Service® (MLS®) residential sales are forecast
to climb 15 per cent from 68,923 units in 2008 to 79,400 units this year, just
below the ten-year average of 82,800 units. Residential sales in 2010 are
forecast to rise an additional 6 per cent to 84,200 units. For comparison, a
record 106,310 units were sold in 2005.
"After 12 months of significant volatility in BC's housing markets, greater
stability is expected through 2010," said Cameron Muir, BCREA Chief Economist.
"Robust housing demand is a strong signal that the economy is coming out of the
recession, with a recovery in the broader economy expected to develop over the
next three quarters." Read more about this forecast ...
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About Royal LePage Rockies West Realty
Rockies
West Realty is your professional real estate services company in the
Columbia Valley. Since 1996, our caring professional representatives
have helped people like you find a beautiful home, acreage, or condo
here in the towns and hamlets that make up the Columbia Valley. Call us
today and let us take care of your real estate needs ... "Helping YOU is what we do".
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| Featured Properties
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Check out the best values with
Our REALTORS® Top Picks |
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Mountainside Home
4960 Mountain Top Drive
Fairmont Hot Springs
list price $849,900
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View the Real Estate Guide
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and Royal LePage
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